Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

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 number of total listings in Sydney has declined compared with this time last year, according to CoreLogic’s latest weekly report.
The property data firm says that the number of total listings in Sydney has declined by 10 percent to 21,470.
This is despite the number of new listings increasing by 5 percent over the past 12 months.
<a href="/images/2016/12/05/Capital%20city%20properties%20listed.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Capital%20city%20properties%20listed.jpg" alt="">
Brisbane has the highest increase of total listings having an increase of 14 percent compared to Hobart decline of 31 percent.
Canberra’s number of new listings over the past 12 months has increased by 19 percent, the highest out of all the capital cities.
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j.ballantyne1990-6AQqhLzZaK

Sydney's total listings decline by 12 percent from 12 months ago: CoreLogic

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<img src="https://counter.theconversation.edu.au/content/69868/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Peter Corrigan died last Thursday morning, the first day of summer.
He was 77. He had worked as an architect and theatre designer from the early 1960s, and from 1974 with his collaborator and life partner Maggie Edmond. Their partnership saw through a succession of major projects, each with the intensity of a last design, and often bringing storms of controversy. 
Corrigan’s maxim for his many students was simple. As Vivian Mitsogianni has written, it was: lead a life of integrity. For students and architects, the greatest compliment he could pay anyone was to say they had “a commitment to architecture”.
He supported younger musicians, artists, fashion designers, as well as mentoring a generation of architecture students: “these kids need support”.
He was famous for attending every exhibition at RMIT University’s gallery, and he was unswerving in his dedication to RMIT University, being a major factor in its current status as an architecture school. In his architecture history lectures, which often ran for three to four hours and were supported by hundreds of images, he would trace the principles and the lapses of one modern architect after another: they were architects and dramatic characters, with all hopes and disappointments embedded in them. 
Unlike so many Australian architects, who tended to see architecture generated in some overseas metropolis as a dependable standard of excellence, he saw such “centres” as contested and unstable environments. He placed architects like Frank Lloyd Wright and Louis Kahn in what was to us an unfamiliar context of American cultural anxiety. Correspondingly, he totally rejected the Australian cultural cringe.
He saw so much through a prism of integrity, and would pull most of us up short if he sensed any backsliding, glossing or easy options. He waged perpetual war on fuzzy thinking; for example challenging the general assumption of Australia’s “suburban wilderness”.
He would be thinking, all the time. In architecture at least, Corrigan did not make a customary intellectual’s progress: from a youthful enactment of someone else’s theory or passion, towards a fixed pattern of thought and certainties that defined their identity. 
He was never a real adherent of any school or movement. Integrity, and in building design a commitment to architecture, was really the only irreducible element.
<h2>Complexity and contradiction</h2>
Corrigan embraced architecture’s complexity and contradiction, rather than the widespread desire in architectural modernism to simplify tasks and to purify form. The modernist movement in the 50s and 60s embraced industrialism and scientism, demanding refined and replicable forms. This led to such absurdities as architects complaining that the Sydney Opera House was flawed because it didn’t offer an industrially reproducible model.
But Corrigan had already rejected this by the early- to mid-1960s, by the time he was producing his first built designs. He recognised, as did an increasing group of architects, that the complexity of modern living often defied refined form and absolute resolution; posing problems and demanding imagery that polished architectural beauty simply ignored.
He became fascinated by the haunted realms of Old Europe after collaborating with Australian director Barrie Kosky on the Dybbuk Trilogy plays in the early 1990s. His Building 8 at RMIT University, the Library and Humanities Building (1991-5) has winding corridors and internal “streets” that echoed Prague or Lviv, or the old Jewish quarters of the Vienna Neubau. 
The lift foyers spoke of the tiles, colours and raucous movement in the concourses of Berlin U-bahn stations, especially in Berlin’s doomed prewar theatre districts. Externally, Building 8 looms over Swanston Street as a great polychrome folly, tumultuously Gothic in bearing (though without explicitly Gothic detailing); capped by canted rooftop “faces” and quoifs in Colorbond steel, animated in colour and facial expression. 
The nearest counterparts are Antoni Gaudi’s houses and apartment blocks in Barcelona: triumphant follies confronting an often grim industrial city. 
Corrigan would constantly crash ideas and architectural themes together, often in oblique, smudged or “momentary” images and glimpses. If he faced an issue, as his friend and early champion Norman Day said, he would circle round it in a kind of spiral: I found this constantly, as he would draw getting closer to the point by telling anecdotes, parables, in a sense.
These stories were mostly of his own and other people’s incredible luck; he never ceased to be amazed by these tales when recounting them himself. During discussions in libraries, pubs or his little office he would associate an immediate issue with a broader point, and illustrate it with a vivid account of some miraculous occurrence.
Among these he would often recall being sacked from a succession of mighty American architectural firms for, as he put it, “inappropriate enthusiasm” and “asking too many questions!” In one instance he was so fired up he started sketching foliage over an exhibition drawing of one of legendary architect Paul Rudolph’s prize projects. Unfortunately, Rudolph was standing behind him at the time. 
This love of storytelling was reflected and supported by his huge library: 3,000 or more books, which which he was invariably generous. When he moved back to his house in his last year, as Maggie Edmond told me, he was reading constantly. 
<h2>Embracing Australia</h2>
Though he lectured on the greatest of modern architects overseas, Corrigan’s crucial guides were often major Australian architects: Frederick Romberg, to whose raw concrete buildings he eagerly took friends; Roy Grounds, long criticised for the monumental expression and the regional referencing in his Victorian Arts Centre. 
I recall how the McCartney house in Kew, 1981, reshaped my own assessment of 1900s Federation architecture. It brought out the diagonal force implicit or latent in so many of Australia’s suburban house plans, and in so doing became an absolutely precarious arrangement of shapes, which are almost quarrelling with each other.
A polygonal tower bumped against a living room wing that cranked round in facets. The hooded upper windows seemed to form a toothy mouth. The main hall was dominated by a massive crystal chandelier – and what was wrong with a bit of domestic aspiration? Were Australian buildings always to know their place in some divine order?
This sense of “movement and energy”, as Corrigan put it, was at the core of Corrigan’s design. Almost all of Edmond and Corrigan’s buildings expressed mobility and with a constant theatrical flourish.
The Athan House (1988), a v-shaped semi-rural residence with an open triangular courtyard in the centre, brought home to me many of these the dramatic possibilities in a completed building. Instead of a continuous veranda around the house, a series of ramps, walkways and bridges almost stutter out into the bush outside.
The house wings doubled back on themselves, and you would see another room through two windows with an external space in between, so the house interior becomes the compressed and half-viewed proximities of inner city apartments. 
Architecture could be loaded with one item after another – the sky was the limit, because good architecture did not always have to be perfected in simplification. 
When I took students to Edmond and Corrigan’s controversial Resurrection Parish, visited by architects and students from all over the world, the Parish school featured the bright 19th-century polychrome stripes of so many Melbourne railway stations or inner suburban terraces. 
He embraced the suburban bungalow and veranda; the Parish church featured bay windows and and a broad, Vatican II nave. A wide veranda is set in a blowsy, slouching curve. 
<h2>Inspiring a movement</h2>
This was now a realm in which Australian architects could now stay home and in Corrigan’s words “bite and fight”: you didn’t have to go overseas to do “proper” architecture. Your duty, he felt, was to stay in Australia, immersed in its particular complexity, and to sort it out here. 
His influence meant that throughout the 70s and 80s young architects would more often stay on in Melbourne and open offices. In contrast, Sydney absorbed bright young architects into established offices, tending to assimilate them into wider and less queried traditions.
Corrigan was a fulcrum in the 1970s to 1990s transformation in Australian architecture, arguably the most radical shift since the Federation period of 1890-1910, or the full surge of architectural modernism between 1930 and 1950. 
In so being, Peter Corrigan was also at the forefront of a new movement of recognisably Melburnian style that emerged in the 90s. Increasingly foreign architects, often bemused, gravitated to Melbourne, lured by the creativity and innovation of the moment.
Despite his strength of feeling for Australia, he spent significant time overseas. There was the United States itself: Corrigan sought out a Yale degree when the almost universal Australian path was toward British training. When he went to Asia it was in the totally unfavoured year of 1963, through Laos, then at war; through Vietnam, soon to be embroiled in war, to Japan – to study Noh theatre.
Despite Peter’s rejection of orthodoxy, he never relinquished one long-standing myth in architectural modernism: the reforming architect as hero. He gravitated to architects who were often isolated or marginalised, but used their designs to project their ideas into the world.
In many senses this idea looked creaky in the 1980s, in part through feminist critique of the notion of “heroes”, in part through the necessary scepticism and caution of historians and critics. 
He wanted so many of his own students to become heroes too, and this was part of the pursuit of integrity. 
From that broad base of intelligence and enthusiasm, it was natural that his great personal quality was generosity – even if it was sometimes alloyed with a lightning-sharp tongue. Those who really disappointed him dwelled in some eternal Coventry. 
As Jennifer Hocking wrote in 1995, there was scarcely a Melbourne architect coming through in the 1970s and 1980s who was not affected in some way by Corrigan’s example. Among overseas friends were Frank Gehry, Peter Eisenman, Daniel Libeskind, Patrick McCaughey and later, after a reconciliation of sorts, Paul Rudolph. 
All these people, and so many more, I sense will gather, and remember. Peter Corrigan was raised as an Irish (though half-German) Catholic, and into this others read all manner of Irishness and wayward madness. 
Architects in both Melbourne and in other cities, who did not see things as Corrigan did, would say, “well, that’s very Melbourne”, or “the Mad Irish were at it again”. 
But in a most surprising way, Corrigan’s constant search had a streak of the dissenting sternness of John Bunyan’s Pilgrim’s Progress:
"Then fancies fly away, He’ll fear not what men say, He’ll labour night and day, To be a pilgrim."
 
Conrad Hamann is associate professor of Architectural History, RMIT University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/conrad-hamann-320980" target="_blank">here</a>.
 
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jchancellor-FAypfDUnLy

Remembering Peter Corrigan: a life of movement, energy and integrity

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Step-by-step guidelines to help identify asbestos in domestic properties has been released by the Asbestos Education Committee in partnership with the Asbestos Diseases Research Institute.
The guides, ‘Asbestos Awareness Healthy House Checklist – A Homeowners Guide To Identifying Asbestos-Containing Materials’ and the ‘Residential Checklist For Tradies – A Tradespersons Guide To Asbestos Containing Materials In Domestic Properties’ is available from <a href="https://www.asbestosawareness.com.au" target="_blank">www.asbestosawareness.com.au</a>.
The checklists include product images and lists each possible location where asbestos-containing materials might be found both inside and outside homes as well as simple step-by-step instructions.
Cherie Barber, Asbestos Awareness Campaign Ambassador said the health risks to anyone working on domestic properties when asbestos materials are disturbed is something every Australian needs to take seriously because asbestos doesn’t discriminate.
“The Healthy House Checklist provides a practical guide for homeowners enabling them to conduct a simple step-by-step easy to follow visual inspection of their property," she said.
“In doing so, homeowners will improve their understanding of the sorts of products to look for, the locations where asbestos might be found and how to manage these products safely. 
"The checklist also enables homeowners to maintain a record of possible asbestos locations should work or renovations be anticipated in the future and monitor asbestos-containing materials to ensure they remain sealed,” she said.
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“Until now, the only information available to homeowners wishing to conduct visual inspections of residential properties has often been cumbersome, complex, extensive documents that can be difficult to access."
Peter Dunphy, Founding Chair of the Asbestos Education Committee said, tradespersons are particularly at risk because all too often they’ve come from a culture where asbestos risks have been ignored.” 
“While tradies may have worked with asbestos in the past and ignored the warnings, they need to be aware that the more a person is exposed to fibres, the greater the risk of developing asbestos-related diseases so it’s vital that they conduct visual inspections of properties to look for the potential dangers to ensure they’re managed safely," he said.
“The ‘Residential Checklist For Tradies – A Tradespersons Guide To Asbestos Containing Materials In Domestic Properties’ will increase Tradies’ understanding of the various products they need to be wary of when working on residential properties and ensure they engage suitably qualified professionals to conduct asbestos-related work or remove asbestos-containing materials safely."
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jonathanchancellor-7SQnKwU6yx

Property 101: Asbestos healthy house checklists for homeowners and tradies launched

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GUEST OBSERVER
As expected the Reserve Bank Board decided to leave the cash rate unchanged at 1.50 percent.
With tomorrow’s prospect of a negative print for GDP growth in the September quarter, we were interested in whether that issue would be addressed in the Governor’s statement. To his credit he has done that by referring to “some slowing in the year ended growth rate is likely” but notes that growth is expected to pick up again in 2017.
In November the Bank released its forecasts that the economy would grow at close to potential in 2017 (forecast growth midpoint of 3 percent). It does not appear to have revised that view in this statement.
Indeed whereas in November the Governor’s statement recognised that commodity prices had risen, in December that increase is now assessed to “provide a boost to national income”.
The key policy sensitive areas of the labour market and housing are given the usual relatively extensive attention.
Overall, the assessment of the labour market appears to be a little less comfortable – the fall in the unemployment rate since December is qualified by “some measures of labour underutilisation are little changed.” Labour market indicators are still described as mixed with employment growth slowing but forward-looking indicators pointing to expansion in employment.
On the other hand, the commentary around housing is more upbeat. Conditions in the housing market are assessed to have strengthened with prices rising briskly in some markets. However, the statement does note that conditions vary considerably with prices falling in other markets.
Internationally, there is a hint of more confidence with “the outlook for inflation is more balanced than it has been for some time.” Most importantly, whereas the near term performance of China is better than expected a few months ago (our assessment), “medium-term risks to growth remain.”
Not surprisingly, the closing paragraph signals the ongoing neutral bias with: “the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.”
Conclusion
Following the rate cut in May this year Westpac forecast that there would be a follow up cut in August and then rates would remain on hold throughout the remainder of 2016 and all of 2017. That was despite market pricing favouring more than one follow up cut in 2017.
Today’s statement further supports our long held view and given ongoing difficulties in the labour market the prospect of rate hikes in 2017, despite some developments in market pricing, seems remote.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>
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mick.cee-iDmgDDAmu8

Uncertainty remains around the labour, housing markets: Westpac's Bill Evans

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GUEST OBSERVER
No surprises from the RBA which left the official cash rate on hold yet again at 1.5 percent at its December Board meeting. 
The RBA appears to be a bit more confident in its views regarding global growth and inflation, sees rising commodity prices as reflective of both stronger demand and supply cutbacks and sees them boosting national income and doesn’t seem too concerned about the rise in bond yields.
By contrast, its comments on Australia are a bit more mixed seeing growth slowing in the short term, the labour market as mixed and inflation remaining low before turning back up. In terms of the housing sector it now seems a bit more concerned acknowledging that conditions have strengthened overall. 
But while the RBA sees year ended growth slowing in the short term – which is presumably a reference to the high risk of a negative September quarter GDP outcome – it  doesn’t appear to be too concerned and is expecting growth to pick up again as resources projects complete. 
Following a surprisingly correlated run of weaker than expected September quarter data for real retail sales, housing construction, private and public investment and trade volumes there is now a very high risk that GDP contracted in the September quarter with the consensus of economists now expecting -0.1 percent quarter on quarter or +2.2 percent year on year.
This would only be the fourth quarter of GDP contraction since the last recession ended in 1991 – the last three being in the December quarter 2000 (after the introduction of the GST), December quarter 2008 (the GFC) and March quarter 2011 (mainly due to a hiccup in exports). While a contraction will no doubt invite talk of a recession (usually defined as two consecutive quarters of falling GDP) we, like the RBA, see growth bouncing back again.
Weak September quarter GDP looks like payback for stronger than expected GDP growth over the year to the June quarter of 3.3 percent. And looking forward the ramp up in resource export volumes has further to go, there is still a huge pipeline of housing activity yet to be completed, strengthening approvals for non-dwelling construction are a positive sign, the drag from mining investment is fading as it reduces as a share of GDP and its likely to be close to a bottom in the next 12-18 months, recent retail sales data have improved suggesting a consumer bounce back in the December quarter and the rebound in commodity prices tells us that the income recession in Australia is over.
But despite this and although the tone of the RBA’s Statement remained basically neutral, absent a surprise bout of fiscal stimulus in Australia we remain of the view that its way too early to rule out further rate cuts next year.
The risks to growth are on the downside, inflation is likely to remain below target for longer than the RBA is forecasting as wages growth remains weak, the RBA may also need to offset increases in bank mortgage rates that are being driven by the rise in global bond yields and the $A remains too high. So we are allowing for one rate cut in the first half of next year. Regardless of whether there will be further cuts or not, a rate hike remains a 2018 story at the earliest.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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Still see another rate cut next year: AMP's Shane Oliver

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A warehouse and ex-gallery in inner-city Sydney recently changed hands for $2,200,000.
The <a href="https://www.domain.com.au/45-burton-street-darlinghurst-nsw-2010-2013226274" target="_blank">45 Burton Street, Darlinghurst</a> property has potential for further development or to 'create something unique', subject to council approval, according to its description,
The location benefits from its proximity to Oxford Street, Hyde Park and the CBD.
The place can be used for developing units or retail.
It has a land area of 86 square metres and internal area of 172 square metres and zoned R1.
Height restrictions of of 12 metres up to four levels apply.
The listing agents were BresicWhitney.
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prateek24-ezbwHMbNAk

Inner Sydney gallery space sells for $2.2 million 

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The latest research from Brisbane South Cityscope shows commercial property sale numbers have increased over the past three months, according to CoreLogic's latest weekly report.
The property investment firm says that the last three months to the end of November 2016 recorded 21 sales for a total of in excess of $81.9 million.
With $29.9 million for commercial, $2.7 million for commercial strata, $4.7 million retail strata and $44.7 million for other.
In comparison, the three months to the end of August 2016 recorded 13 sales for a total of over $90.1 million; with $77.2 million for commercial, $1.1 million for commercial strata, $3.2 million retail strata and $8.6 million for other.
The 12 months leading up to the end of November 2016 recorded 60 sales for a total of over $341.1 million, over $109 million lower than the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane South Cityscope:
<a href="/images/2016/12/05/Brisbane-01.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Brisbane-01.jpeg" alt="">
The most significant sales, all in South Brisbane, recorded this quarter together totalled over $50.3 million.
<ul>
<li>2 Cordelia Street, South Brisbane. A high-clearance warehouse with two levels of office space to the western end and lower ground car parking. Bought for $20 million by 2 Cordelia Street Pty Ltd. The site has approval for a 30-storey tower with 379 apartments and ground floor retail space. James Walsh of Deloitte Capland Real Estate Advisory negotiated the sale.</li>
<li>13, 15 and 17 Manning Street, South Brisbane. An 1,890 square metre development site with two office buildings and a warehouse. Metro Manning Street Pty Ltd bought the three properties separately for a combined total of $21.2 million. The site has approval for a 30-storey tower with ground floor retail space.</li>
<li>14 Hockings Street, South Brisbane (pictured above). A two-storey office building with rear warehouse space. Glasgow Constructions Pty Ltd sold the property for $10.1 million to the Swanland Estates Trust. Elliott O’Shea and Blake Goddard of JLL Brisbane negotiated the sale, which represented an initial yield of 3.7% on passing income of around $373,700.</li>
</ul>
<a href="/images/2016/12/05/Brisbane-02.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Brisbane-02.jpeg" alt="">
Properties listed for sale include:
<ul>
<li>15 Browning Street, South Brisbane. A two-storey short and long term accommodation building. For sale with offers over $1.9 million being considered; agent, First National Commercial (Hiep Nguyen).</li>
<li>20 Bank Street, West End. A two-storey office/warehouse. For sale with an asking price of $3.35 million; agent, C Property Qld (Carl Charalambous).</li>
<li>186 Vulture Street, South Brisbane. A single-storey building with a lower ground area. The building includes a shop to Tribune Street and a three-bedroom unit. For sale with an asking price of $2.2 million; agent, Colliers International Brisbane (Tony Huan Wing and Guy Stafford).</li>
</ul>
Currently under contract (conditional or unconditional):
<ul>
<li>427 Montague Road, West End. A two-level building with office space to Montague Road and warehouse space to Ferry Road. Due to the sloping nature of the site the building appears two-storey to Ferry Road. Under contract unconditionally for $2.73 million with settlement expected early December 2016.</li>
<li>Dialog House, 35 Boundary Street, South Brisbane. An eight-storey office building with two levels of basement car parking. Due diligence is currently being conducted; agents, Knight Frank (Justin Bond and Ben McGrath) and Savills (Peter Chapple and Anthony Ott). The property was advertised with an estimated fully leased income of $3,960,545 per annum net.</li>
</ul>
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Brisbane South's commercial property market rising: CoreLogic

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An Enmore office/retail building in Sydney's inner west has fetched $3,810,000 at recent auction.
The freehold corner property at <a href="https://www.realcommercial.com.au/property-land+development-nsw-enmore-502152678" target="_blank">164-166 Enmore Road</a> is adjacent to Newtown's "Eat Street".
The description said it would be suited to developers or investors and buyers of the property would join the likes of Merivale, Stanbuli, Cow and Moon and several other operators investing in Enmore Road.
The property's floor area is 349 square metres. The zoning is B2 Local centre.
The selling agents were Stefan Jones and Steffan Ippolito of Oxford Agency.
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Enmore office building fetches $3.81 million at auction

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A modern warehouse/office investment opportunity in the Knox Gateway Business Park in Melbourne’s south-east has been sold by Ray White Commercial Oakleigh.
The property at 13/1488 Ferntree Gully Road, Knoxfield was sold for $638,000 to a local investor at a yield of 5.6%.
The property which offered a net lettable area of approximately 340 square metres, comprised a building area of 225 square metres and 115 square metres of upstairs mezzanine.
It is currently returning rental income of $35,000 per annum.
The established tenant is on a long-term lease with a 3.0% annual rent review.
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Modern warehouse/office at Knoxfield sold for $638,000

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South Australia has the largest decline in listing market activity on a month to month basis, according to CoreLogic’s latest weekly report.
The property investment firm says that listing activity declined by 11.6% in the state.
However, seasonally adjusted, listing activity in the state represents a 2.3% increase month on month.
Listing activity often declines in the lead-up to the Christmas holiday season following the traditionally busy spring selling season.
<a href="/images/2016/12/05/Listing%20market%20activity.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Listing%20market%20activity.jpg" alt="">
New South Wales experienced a decline of 7.6% in listing market activity month on month, CoreLogic found.
Victoria was the only state to record a month on month increase, with listing activity rising 1.5% month on month.
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