For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

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

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

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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GUEST OBSERVER
The solution to Sydney’s affordable housing problems is contained in the existing legislation and recommendations of the Affordable Housing Taskforce as outlined on the Department of Planning’s website.
The Affordable Housing Taskforce report to the Coalition Government in 2012 clearly stated that the private sector will not enter the affordable housing market without incentives (Action 5).
The Affordable Housing Taskforce report said ‘These incentives have been particularly attractive where the bonus represents significant value’(Cl 4.12). 
The Taskforce report supported the principle of the Affordable Rental Housing State Environmental Planning Policy (SEPP) as a good way to generate affordable housing.
The Urban Taskforce, representing property developers, has presented to the NSW Government a clear strategy to produce 40,000 affordable homes over a 10 year period by slightly changing the NSW Government’s current incentive in the Affordable Rental Housing SEPP.
The current Affordable Rental Housing SEPP is based on rental housing being for a period of 10 years through ‘a restriction on the occupation certificate against the title of the property’ (Cl17) and the Urban Taskforce proposal uses exactly the same definition.
Since the Affordable Rental Housing SEPP was introduced a relatively small number of affordable homes have been produced because the incentives have been too low. With a lifting in the incentives thousands of affordable housing homes can be built in metropolitan Sydney.
The Coalition Government’s Taskforce raised concerns that inclusionary zoning would only work where land value was high. ‘Inclusionary zone policies have been shown to work most effectively in high value land locations and have limited application in lower cost markets.’ (Cl 4.14). The Urban Taskforce approach is an incentive that is adjusted to all suburbs irrespective of land value.
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It seems that the approach now preferred by the Greater Sydney Commission is to force inclusionary zoning as a tax on new housing development. While this may work where land value is high, like Vaucluse, it is unlikely that the suburbs that really need affordable housing will benefit.
The Urban Taskforce is keen to work with the NSW Government to generate thousands of new affordable homes across Sydney. To simply force a new tax on the development industry in Sydney will act as a disincentive on the private sector to provide homes. By default it will be the NSW Government who will need to provide massive numbers of affordable homes.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Affordable housing solution for Sydney is contained in Planning Department Policies: Chris Johnson

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The Northern Beaches takes the weekend's top spot as the Sydney region with the highest auction clearance rate, according to CoreLogic’s latest weekly report.
Out of the 83 reported auctions to CoreLogic about 94% resulted in a successful outcome.
<a href="/images/2016/10/31/Sydney%20weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Sydney%20weekly%20clearance%20rate.jpg" alt="">
This is followed by Sutherland with 93% and Blacktown with a clearance rate of 92%.
The region with the lowest auction clearance rate was Parramatta where only 67% of the 61 auctions known to CoreLogic resulted in a successful outcome.
<a href="/images/2016/10/31/Sydney%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
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j.ballantyne1990-6AQqhLzZaK

Northern Beaches's top spot as Sydney region with best clearance rate: CoreLogic

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The North West region takes the weekend's top spot as the Melbourne region with the highest auction clearance rate, according to CoreLogic’s latest weekly report.
Out of the 60 reported auctions to CoreLogic about 91% resulted in a successful outcome.
<a href="/images/2016/10/31/Melbourne%20weekly%20clearance%20rate.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Melbourne%20weekly%20clearance%20rate.jpg" alt="">
This was followed by the Outer East region with 87% and both the North East and South East taking equal third place with 82%.
The region with the lowest auction clearance rate was both the Inner region and the Inner East region with both regions having an auction clearance rate of 70%.
<a href="/images/2016/10/31/Melbourne%20sub%20regions.jpg" target="_blank">Click to enlarge</a>
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North West region's top spot as Melbourne region with best clearance rate: CoreLogic

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Geelong takes the weekend's top spot as the regional region with the highest auction clearance rate, according to CoreLogic’s latest weekly report.
Out of the 32 reported auctions to CoreLogic about 87% resulted in a successful outcome.
<a href="/images/2016/10/31/Regional%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Regional%20regions.jpg" alt="">
This was followed by Wollongong with 69% and the Hunter with 68%.
The region with the lowest auction clearance rate was the Sunshine Coast with only 39% of its 23 auctions known to CoreLogic resulted in a successful outcome.
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Geelong's top spot as regional region with best clearance rate: CoreLogic

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Some 43 apartments were sold in the first three hours of release at Sydney's Luxe on Eve development in the inner city suburb of Erskineville over the weekend.
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%2012.16.48%20PM.png" alt="">
When completed, Luxe on Eve will feature 71 apartments across two buildings reaching six levels in height.
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%2012.16.58%20PM.png" alt="">
A two bed apartment plus study and car space was sold to a local owner occupier for $1.35 (87 sqm internal, 75 sqm balcony). Total weekend sales were over $40 million.
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%2012.16.54%20PM.png" alt="">
Prices ranging from $595,000 to $1.35 million.
The $80 million residential development is designed by Smith &amp; Tzannes Architects.
For more information, <a href="https://www.luxeoneve.com" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

Luxe on Eve secures 43 weekend sales in Erskineville

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The most expensive house to sell at weekend auction in Melbourne was a derelict four bedroom heritage home in Hawthorn for $2.815 million.
It was roofless! Decaying over the past decade, then nearly <a href="https://www.realestate.com.au/sold/property-house-vic-hawthorn-123697414" target="_blank">destroyed by fire two years ago</a>.
Most Melbourne agents - and their vendors and buyers - took the weekend off for the spring racing carnival.
But Marshall White agent Duane Wolowiec saw the opportunity to run a lengthier five week marketing campaign for his tricky listing that gave prospective buyers extra time to become convinced it was a punt they'd be prepared to take on.
The top sale at Hawthorn was a 1000 sq m offering on the Lisson Grove estate which since the 1870s had been regarded as one Hawthorn's most fashionable avenues given the lovely Victorian homes set in large gardens.
Number 65 was one of four single storey villas built between 1884 and 1886 by the Troon family featuring a symmetrical façade with double bay windows.
"We have five young families bidding" Duane Wolowiec said. 
"There are strict heritage restoration conditions including the need to install slate roofing," he said.
Most buyers thought the restoration would cost at least $1.5 million, he added. Hawthorn's median house price currently sits at a record $1.85 million, according to CoreLogic.
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Roofless house fetches $2.8 million

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<img src="https://counter.theconversation.edu.au/content/67834/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In it’s latest report, the Australian Securities &amp; Investments Commission (ASIC) found the big four banks sold products to some customers through their adviser network, with a fee for ongoing advice, but the advice was never given. 
None of this came to light until the banks were asked by ASIC to look at adviser compensation, following the introduction of the Future of Financial Advice (FOFA) legislation in 2013. 
No wonder the banks were wary of their practices being investigated. Not only has it come to light that many customers (176,000 at the last count) were being charged for services they were not receiving but, in many cases, the banks didn’t have the data they needed to find out whether customers had been dudded or not. 
And ASIC is pretty sure why such systemic issues emerge at regular intervals, stating:
Cultural factors in the banking and financial services institutions covered by this report may have contributed to the systemic failures we observed. 
The ASIC report details the reason for the cultural failings it observed in the wealth management businesses of the major banks:
Some advice licensees prioritised advice revenue and fee generation over ensuring that they delivered the required services.
ASIC found that the IT systems in wealth management in the major banks were stone-aged at best. The banks appear to have no idea what they don’t know, but are all working to identify how many more customers need to be compensated. 
ASIC also found that some banks failed to keep complete or accurate records to enable compliance to be analysed. And in some cases, authorised representatives had taken customers’ files with them when they left the firms, making it impossible to check whether or not advice was given.
It appears that every time a question is asked of the big banks, another example of bad behaviour is unearthed.
In the recent questioning of bank CEOs by the House Economics Committee, questions were raised with all CEOs about systemic issues. The answers were generally evasive and short on specifics. 
For example, when talking about a different but related, financial planning scandal, Andrew Thorburn, NAB CEO, said:
“We did a review and we had an independent party come and do that review with us, and we concluded and we stand by that, that it was not a systemic issue.”
What Mr Thorburn and other CEOs neglected to mention was that the banks had, as revealed in ASIC’s report, all already been in the middle of deep discussions about so-called “fee-for-services failures” . The regulator wrote:
Of particular concern is that many of the banking and financial services institutions covered by this review publicly state that their core values include being customer focused, “doing what is right” for customers, and acting with integrity. We encourage the institutions reviewed in this report to consider how their culture may have supported these systemic failures, and why their stated commitment to providing excellent service to customers is not translating into good outcomes for customers in the many instances we identified in this report.
At long last, ASIC has highlighted cultural issues across the industry that the boards and management of the largest banks have long refused to acknowledge. 
The regulator has done its job and found compelling evidence that the culture of the banks is rotten. 
It’s over to the politicians now.
Pat McConnell is honorary fellow, Macquarie University Applied Finance Centre, Macquarie University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/pat-mcconnell-13137" target="_blank">here</a>.
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ASIC report highlights a deep culture problem in Australia’s banks

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Model simulations suggest that during private deleveraging, targeted fiscal interventions should be used to help unclog an economy’s credit system, as the cost of inaction is much higher including from a public debt sustainability perspective, according to IMF's latest report.
However, the optimal size of the intervention depends on the available fiscal space and the efficiency of intervention, under- scoring the importance of carefully designing these measures.
In the current global environment of low growth and private sector deleveraging—and with a strained financial system in some countries diminishing the effectiveness of monetary policy—there is a question of whether fiscal policy can play a role in facilitating the ongoing adjustment.
<a href="/images/2016/10/31/Impact%20of%20Targeted%20Interventions%20in%20a%20Deleveraging%20Phase.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/31/Impact%20of%20Targeted%20Interventions%20in%20a%20Deleveraging%20Phase.jpg" alt="">
The dynamic general equilibrium model developed by Batini, Melina, and Villa (2016) is used in this box to assess the benefits of alternative fiscal policy measures.
The simulations assume that there is a shock in house prices similar in size to that observed in the United States during the global financial crisis, pushing the private sector into deleveraging. Three types of stimuli are considered: (1) a targeted intervention in the form of a subsidized government loan to the private sector when the credit channel is not working, (2) government consumption, and (3) public investment. Figure 1.4.1 shows the relative benefits of these measures compared to a no-policy-action scenario.
Overall, targeted fiscal intervention can alleviate the recessionary impact of private sector deleveraging, with the output gap up to 41⁄2 percentage points higher relative to no action (panel 1). By relaxing the private sector’s borrowing constraints, this type of measure allows households and firms to spend while deleveraging, supporting aggregate demand.
In addition, public debt is slightly lower than under no intervention, despite the up-front fiscal cost as a result of the boost to growth (panel 2).  The benefits of intervention (in terms of minimizing output losses) for a given size of stimulus decrease with the inefficiency costs associated with poor targeting (red versus blue lines in panels 1 and 2).
The output benefits of targeted intervention are four times larger than those of more standard stimulus measures (panel 3). The main reason for this powerful result is that, by lending to credit-constrained house-holds and firms, the government can leverage a much larger amount of spending than through other policy stimuli of equal cost.
That is because the fiscal cost of targeted intervention is only a fraction of the total government loan.
The higher the initial public debt (a proxy of the available fiscal buffers), the lower the optimal level of intervention that minimizes output losses (panel 4). With higher public debt, the sovereign risk premium goes up, increasing the fiscal cost of intervention and thereby limiting the optimal amount of credit that the government can intermediate.
Still, intervening pays off as long as there are some buffers, suggesting that multipliers are very high.
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Property 101: The benefits of targeted fiscal intervention

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The final weekend of October had the clearance rate remain high across all the capital cities, recording above 70 percent for the 14th consecutive week.
There were 2,246 auctions held across the capital cities, with a preliminary auction clearance rate of 77 percent, slightly down decrease over last week’s final clearance rate of 78 percent across 2,680 auctions. 
But it was much higher than the corresponding week last year when there was a 61 percent success rate.
Sydney has been the proven spring stayer this year with its auction clearance rate remaining above 80 percent.
Three weeks ago there were four capitals in the picture, but they all dropped off a little. 
Prices ranged across the country from $246,500 in Adelaide to $5.65 million in Sydney, with two strong challenges from prestige Brisbane offerings.
The result comes days before the key Melbourne Cup day interest rate decision by the Reserve Bank of Australia. 
"The strong clearance rate continues to be supported by exceptionally strong auction market conditions in Sydney where the preliminary clearance rate was recorded at 84.4 percent across almost 1,100 auctions, while the preliminary clearance rate in Melbourne (78.6 percent), Canberra (71.1 percent) and Adelaide (75 percent) also tracked above 70 percent," Kevin Brogan said.
Across Sydney, 1,096 homes were taken to auction this week with a preliminary clearance rate of 84.4 percent across 906 reported results.
Last week, the final clearance rate for the city was 82.6 percent, across 897 auctions.
One year ago, 1,391 Sydney homes were taken to auction and the clearance rate was 60 percent. 
Clearance rates ranged fror 94 percent on the Northern Beaches to 67 percent in Parramatta. 
The most expensive house sold was a newly built six bedroom Strathfield home (above). 
The sale at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-123713270" target="_blank">115 Homebush Road</a> for $5.65 million was $300,000 over reserve through agents Joseph and Sam Georges of Georges Ellis &amp; Co. They said prices were up about 30 per cent in the last year.
The 1120 sq m building block had cost $1.7 million in 2014.
Sydney's Paddington had its own dilapidated terrace story too. 
The <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-123733818" target="_blank">45 Iris Street offering</a> sold for $1.19 million - $190,000 more than it was purchased for just eight months ago.
The uninhabitable two bedroom terrace had three bidders with it sold to an investor who will implement the recently obtained development approval.
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.29.45%20AM.png" alt="">
The terrace had been the home of the late artist Christina Coombes who had bought it in 1965 for £3200.
The distraction of the Spring Racing Carnival saw Melbourne listings down - and the preliminary clearance rate dipped from 80 percent to 78 per cent, though remaining well above the 65 percent clearance rate for the city one year ago.
Melbourne hosted around 629 auctions, lower than the 1,377 held last week and consistent with the same period last year.
The strongest performer was the North West region with a 91 percent of success rate. 
The top sale at Hawthorn was a 1000 sq m offering on the Lisson Grove estate which since the 1870s had been regarded as one Hawthorn's most fashionable avenues given the lovely Victorian homes set in large gardens.
Number 65 was one of four single storey villas built between 1884 and 1886 featuring a symmetrical façade with double bay windows.
"We have five young families bidding" Duane Wolowiec said.  
"There are strict heritage restoration conditions including the need to install slate roofing," he said.
Most buyers thought the restoration would cost at least $1.5 million, he added. Hawthorn's median house price currently sits at a record $1.85 million, according to CoreLogic.
There were 192 Brisbane homes taken to auction this week, with 114 results reported so far. The preliminary clearance rate for the city is 52 percent, up from 50 percent last week and also higher than one year ago, when 48 percent of the 188 properties taken to auction were successful.
Brisbane's top weekend result was $5.3 million in Paddington. 
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.31.51%20AM.png" alt="">
The tri-level 2009-built contemporary home at <a href="https://www.realestate.com.au/property-house-qld-paddington-123651270" target="_blank">171 Fernberg Rd</a> (above) sold to a Toowong family.
There was also the $5.25 million sale of the former six decade long home of the late Sir John Pidgeon, a respected leader in the construction and property industry. 
The home at <a href="https://www.realestate.com.au/property-house-qld-holland+park-123667174" target="_blank">14 Otway St, Holland Park</a> (below) on 5275 sq m was purchased for $5.225 million by a local buyer. 
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.32.52%20AM.png" alt="">
Sir John passed away in June.
The auction, through Dixon Family Estate Agents, attracted 36 registered buyers, according to the Courier Mail.
The living room fireplace is an authentic George III white marble inlaid chimney piece, the jamb centred with a relief of Diana and her Hound. 
Adelaide recorded a clearance rate of 75 percent across 166 auctions this week, up from 71 percent across 100 auctions last week. At the same time last year, 148 homes were taken to auction, with 57 percent recording a successful result.
Adelaide had the nation's cheapest sale at $246,500 in Elizabeth. 
<img src="/images/2016/10/31/Screen%20Shot%202016-10-31%20at%209.34.07%20AM.png" alt="">
The mid-1960s <a href="https://www.realestate.com.au/property-house-sa-elizabeth-123810514" target="_blank">three bedroom brick home</a> (above) had been listed with $210,000 hopes, having last sold for $92,500 in 2002.
Canberra’s preliminary auction clearance rate of 71 percent this week matched the 71 percent recorded last year. 
Perth and Hobart were the capitals with lower clearance rates than one year ago. 
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Sydney the proven spring auction stayer

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While Melbourne Cup day has traditionally been viewed as a popular day for the Reserve Bank to shift the cash rate, new research from comparison website finder.com.au suggests it’s unlikely to be the case this time around.
The majority (90 percent) of the 33 experts and economists from the monthly <a href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=e389997702&amp;e=58cd8ffd03" target="_blank">finder.com.au RBA survey</a> are betting on a cash rate hold at 1.5 percent at tomorrow’s board meeting (Tuesday 1 November, 2016). 
A finder.com.au analysis has found the Bank has cut rates on the first Tuesday of November just four times in the past 26 years.
The last two instances were on Melbourne Cup days in 2011 and 2008. However prior to this, it was more than 20 years ago in 1996. 
Graham Cooke, Insights Manager at finder.com.au, says that in recent times, Melbourne Cup Day has seen more rate rises than rate falls. 
“For many Australians, the first Tuesday of November is synonymous with the race that stops a nation. But for mortgage holders, it’s also a day of worry that the Bank may up the cash rate while the limelight is on the track.”
The RBA has increased rates on four out of the last 10 Melbourne Cup days. 
Interestingly, just three economists (Darryl Gobbett of Baillieu Holst Ltd, Janu Chan of St.George Bank and Stephen Koukoulas of Market Economics) are expecting the cash rate to plummet in November this year.
This follows inflation data released last week showing that inflation rose by 1.3% over the 12 months to the September quarter 2016. 
Only three economists (12 percent) who forecasted beyond this month’s decision are expecting a rate cut in December this year. Most experts (69 percent), however, predict a rate cut in the first half of next year. 
Four economists (15 percent) are now expecting the next rate movement to be in a positive direction, and are tipping an increase to occur next year.
However, when asked how low the rate will go before it starts to rise, only a third of the economists who responded (10, 34 percent) expect the rate to fall no lower than 1.5 percent.
Over half (14, 58 percent) believe at least one more cut is in the pipeline, forecasting the rate to bottom-out at either 1.25 percent or 1.00 percent. 
Following ASIC’s call for Australian banks to introduce tracker mortgages, economists were asked if these products could potentially benefit Australian borrowers.
The vast majority of experts said they didn’t believe tracker mortgages would benefit the consumer, while 35 percent believe they could be useful.
Mr Cooke says while tracker mortgages are widely available in the UK and Ireland, it’s unlikely that they will have a place in the Australian market.
“Tracker mortgages are a type of variable rate mortgage that follows or ‘tracks’ a base rate, such as the RBA rate, and similar to a variable rate product, borrowers can benefit from lower repayments when interest rates fall. 
“As they are tied to a central bank rate, they offer more predictable interest rates to consumers, so if there’s a rate change, borrowers don’t need to wait around to see when and if their lender will pass on a rate discount. 
“However, banks may struggle to make a profit on these types of products, so it’s unlikely that they’ll be offered widely within Australia,” he says. 
Interestingly, a separate survey by finder.com.au found that 30 percent of Australians would be interested in a tracker mortgage if they were offered locally.
In recent weeks, Auswide Bank introduced its RBA Rate Tracker Home Loan which is now available to borrowers. 
Here’s what our experts had to say:
Alan Oster, NAB: "Still looking to see impact of past cuts."
Alison Booth, Australian National University: "Now the inflation figures and other economic indicators are out, there is no need to change the cash rate."
Brian Parker, SUNSUPER: "The CPI data suggest that inflation may well have bottomed, and the RBA has signalled that it would very reluctant to cut rates at this point."
Christine Williams, Smarter Property Investing: "With the latest figures out I believe the rates for November will stay on hold. I am still of the belief there will be a drop in December." 
Darryl Gobbett, Baillieu Holst Ltd (Decrease): "Sept Qtr CPI and other information points to underlying continuing well under 1.5 percent well through 2017. $A also continues higher than the RBA would see as desirable.”
Dr Andrew Wilson, Domain Group: "Close call by the Bank - last real chance for the year to influence economic activity through a cut. Mixed news on economy with significant shedding of full time jobs, falling participation rates, record low and still falling underlying inflation, trend retail sales down and high dollar. But Sydney and Melbourne house prices booming with lower rates to add fuel to that inferno and intensify the political affordability debate."
Emily Dabbs, Moody's Analytics: "Inflation has stabilised slightly and employment growth remains robust. The recent rise in house prices across Sydney and Melbourne will also play a role as the RBA keeps an eye on financial stability. " 
Garry Shilson-Josling, Australian Associated Press: "The economy is doing enough to allow the RBA to stay on the fence, and there are hints that inflation is bottoming out." 
Grant Harrod, LJ Hooker: "Strong East Coast property markets, combined with the diminishing impact of cutting already record-low interest rates, should see the RBA hold the cash rate over the short term. " 
Janu Chan, St.George Bank (Decrease): "Low inflation and little prospect that it will return to the RBA's 2 to 3% target band over the medium term. This has been reinforced by softer labour market conditions which suggests that spare capacity remains within the economy. The RBA also appears more relaxed on housing. Nonetheless, we view next week's decision a very close call as recent comments by Lowe suggest flexibility around the RBA's inflation target. "
John Caelli, ME: "The CPI data remains weak but continued strength in house prices means the Bank can probably remain on hold for a while." 
John Hewson, ANU: "A safe bet on Cup Day. Vagueness on inflation, although core inflation consistent with RBA forecasts." 
Jonathan Chancellor, Property Observer: "All the economic stats lend themselves to a wait and see approach. The strong east coast spring housing market doesn't need any extra impetus." 
Jordan Eliseo, ABC Bullion: "The higher than expected CPI print guarantees a "hold" on Melbourne Cup Day, with the RBA happy to sit on the sidelines. But with core inflation still soft, the AUD far higher than they'd like to see it, and the employment picture deteriorating, it's still just a question of "when" not "if" they'll ease again "
Leanne Pilkington, Laing+Simmons: "Because to announce another rate cut with such a spotlight on the housing market would be risky from a public perspective and they would prefer to be cautious.  Therefore the safest move is to leave them on hold."
Lynne Jordan, Liberty: "“The odds are looking slim for a Melbourne Cup day rate cut, with the RBA set to hold the official cash rate again at 1.5 per cent. The latest inflation figures were always going to play a big part in the RBA’s decision, and with inflation creeping in a little stronger than expected, there is no need for any action yet. " 
Mark Brimble, Griffith Uni: "While headline inflation was slightly higher than expected, it is still outside the target band and underlying is weaker.  The AUD is stubbornly creeping up and housing is reasonably robust, despite emerging weakness in certain parts of the market.  Bias remains to further easing, but with November shaping up to be a big month (US elections for example) it likely they will hold for now." 
Matthew Peter, QIC: "With inflation within expectations, the RBA can afford to sit on 1.5% cash rate into 2017."
Matthew Pollock, Master Builders Australia: "The Q3 CPI result was low but showed signs of improvement. on top of that commodity prices are on the improve and should give a much need boost to national income growth, and in turn lift price growth." 
Michael Witts, ING Bank: "Given the solid GDP data and no further weakening in the inflation rate, together with ongoing focus on housing prices, the RBA will sit tight in November."
Michael Yardney, Metropole Property Strategists: "The RBA is looking for reasons not to cut rates further and the slight uptick in inflation, plus our generally softer property markets will allow the RBA to hold rates at the present level."
Nicholas Gruen, Lateral Economics: "Because it's flying by the seat of its pants and thinks things are OK right now - even if it forecasts continuing slack in the economy."
Noel Whittaker, QUT: "Inflation figures are OK  - no reason to move."
Paul Bloxham, HSBC: "The inflation targeting regime is 'flexible' and the RBA has already cut by 50bps this year." 
Paul Dales, Capital Economics: "The weakness of underlying inflation in the third quarter means there is a greater chance than widely believed that the RBA will cut rates to 1.25 percent in November. However, the focus on the medium-term nature of the inflation target, concerns over housing and the recent rises in commodity prices mean the RBA is more likely to put up with low underlying inflation and keep rates at 1.5 percent for now."
Peter Haller, Heritage Bank: "Quarter 3 inflation data was not sufficiently weak to justify a further cash rate cut at this time."
Richard Holden, UNSW Business School: "Inflation data was not terrible."
Robert Montgomery, Infrastructure Partnerships Australia: "Despite low underlying inflation recorded in the latest data release, the RBA will hold rates at 1.5 percent. However, continued low inflation could put pressure on the RBA to make a further cut in 2017."
Saul Eslake (Independent): "(1) Latest inflation numbers don't warrant taking interest rates down to a new record low; (2) Other economic data released since last meeting will have done little to alter the RBA's assessment of or outlook for the Australian economy (although maintenance of upward trend in coal and iron ore prices might have made them marginally more optimistic); (3) growing prospect of Fed raising US rates means there could be some (welcome) downward movement in the A$ by year end"
Savanth Sebastian, Commsec: "Modest lift in inflation is likely to result in policy makers holding off from cutting the cash rate. Debate on the benefit of further rate cuts will be a key reason for a no change decision." 
Scott Morgan, Greater Bank: "The economic data doesn’t support a cut at this time. Core Inflation is still  below target but in line with expectations. The US Fed decision on rates may be a key driver of any further Australian cash rate movements." 
Stephen Koukoulas, Market Economics (Decrease): "Inflation has been undershooting the RBA target for two years and shows no signs of lifting. The recent CPI saw the lowest quarterly and annual underlying inflation result on record. The RBA needs to cut rates to try to get inflation back to its target range."
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