<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.</p>

<p>The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.</p>

<p>Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" /></p>

<p>It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.</p>

<p>The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." /></p>

<p>Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.</p>

<p>&nbsp;</p>

<p>At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" /></p>

<p>The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.</p>

<p>The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.</p>

<p>The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" /></p>

<p>Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.</p>

<p>At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" /></p>

<p>The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.</p>

<p>Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.</p>

<p>The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" /></p>

<p>The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.</p>

<p>Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.</p>


Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.</p>

<p>The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.</p>

<p>“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

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<p><span>Last week, the auction clearance rate across the combined capital cities was 71.2%, the lowest weekly clearance rate since February this year, however it was the fifth busiest week for auctions so far this year (2,654). </span></p>
<p><span>To put this into perspective based on reported results, last week an estimated 1,890 homes were sold as a result of an auction campaign across the nation’s capital cities. This week, CoreLogic RP Data is tracking just shy of 2,600 auctions, showing the number of homes being taken to auction remains relatively steady.</span></p>
<p><span>This week, Melbourne is expected to host 1,120 auctions, followed closely by Sydney with 1,068. Last week, across both cities the clearance rates fell on a week-on-week basis, down to 74.3% for Melbourne and 73.1% for Sydney. This result for Sydney was the lowest recorded so far this year; however, it still represented the second strongest result across any other capital city market.</span></p>
<p><span>Across Adelaide, auction volumes will rise this week, up from 89 last week to 101 this week. In Canberra, 124 auctions are scheduled this week, compared to a lower 79 last week. Meanwhile, auction volumes remain relatively steady in Perth, down slightly from 35 last week to 32 over<br> the current week.</span></p>
<p><span>Brisbane is expecting 149 auctions this week, compared to 179 last week and 154 at the same time last year.</span></p>
<p><span>The busiest suburb for auctions across Australia this week is located in Sydney, with 19 Mosman auctions to be held. Mount Waverley (Vic) and Reservoir (Vic) both have 18 residential auctions this week. </span></p>
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Combined capital cities record lowest clearance rate since February: CoreLogic RP Data's Shana Miller

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<p> </p>
<p><span>Over the 2014-15 financial year vacant land selling prices have continued to rise across the combined capital cities. Meanwhile, vacant land prices have actually fallen over the year in regional markets.</span></p>
<p> </p>
<div>
<p>Data based on settled sales over the 2014-15 financial years shows that vacant land selling prices have increased by 6.0% across the combined capital cities. While capital city land prices are increasing, across the combined regional markets land prices have fallen by -3.4% over the year.</p>
<p>As at June 2015, the median selling price of vacant land was recorded at $258,543 across the combined capital cities and $156,500 across the combined regional markets. Median land prices in regional areas of the country are now -39% lower than those in capital cities, the widest differential since August 1990. Over the 25 years to June 2015, median vacant land prices have increased by 417% (6.8%pa) across the combined capital cities and by 422% (6.8%pa) across the combined regional areas.</p>
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<p><span style="line-height: 1.3em;"> </span></p>
<div>
<p><a href="/images/2015/09/21/2015-09-21--median-vacant-land-prices.png" target="_blank">Click to enlarge</a></p>
<h3>Median vacant land prices over time</h3>
<p><img src="/images/2015/09/21/2015-09-21--median-vacant-land-prices.png" alt=""></p>
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<p>While prices have fairly consistently risen, there has been a consistent trend towards smaller lot sizes. Although you pay a lot more for land you get a lot less for your money. Of those vacant land lots sold over the year to June 2015, the median lot size was 452sqm across the combined capital cities and 810sqm across the combined regional markets.</p>
<p>The median lot size has been reasonably stable across the combined capital cities over the past twelve months, whereas it has actually risen by 8.3% over the past year across regional markets. The median lot size for capital city vacant land has seemingly hit a trough having been relatively stable over the past 2 years. Meanwhile lot sizes have trended higher over the past year in regional areas.</p>
<p><a href="/images/2015/09/21/2015-09-21--pp-median-vacant-lot-sizes.png" target="_blank">Click to enlarge</a></p>
<h3>Median vacant land lot sizes over time</h3>
<p><img src="/images/2015/09/21/2015-09-21--pp-median-vacant-lot-sizes.png" alt=""></p>
<p>With higher prices and fairly steady land areas, the rate per square metre of land has continued to rise over the past year across the combined capital cities while it has fallen in regional markets. At the end of June 2015 the rate per square metre was recorded at $557 across the combined capital cities and $170/sqm across the combined regional markets.</p>
<p>Chart 3 shows that the differential in the rate per square metre between capital city and regional residential vacant land is significant. This is a function of the high cost of vacant land in capital cities and the relatively small lot sizes. To put this in perspective, 25 years ago the rate/sqm for capital city vacant land was $66 and the typical lot size was 750sqm. Today capital city land costs $557/sqm and is only 450sqm on average. While a 750sqm lot in a capital city cost $50,000 25 years ago, today it would cost $417,800.</p>
<p><a href="/images/2015/09/21/2015-09-21--pp-median-rate-per-sqm.png" target="_blank">Click to enlarge</a></p>
<h3>Median rate per square metre for vacant land over time</h3>
<p><img src="/images/2015/09/21/2015-09-21--pp-median-rate-per-sqm.png" alt=""></p>
<p>When looking at individual capital cities, vacant land prices are much higher than all other capital cities in Sydney. The cost of vacant land has risen sharply over the past year in Sydney, Melbourne and Perth over the past year. Typical lot sizes have actually risen across most cities over the past year but have generally fallen over the past decade. On a rate per square metre basis, vacant land in Sydney and Perth is much more expensive than all other capital cities. The rate per square metre has generally risen over the past year.</p>
<p><a href="/images/2015/09/21/2015-09-21--pp-capital-city-vacant-land.png" target="_blank">Click to enlarge</a></p>
<h3>Capital city vacant land statistics - June 2015*</h3>
<p><img src="/images/2015/09/21/2015-09-21--pp-capital-city-vacant-land.png" alt=""></p>
<p><em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.</em></p>
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Capital city land prices just keep on rising: Cameron Kusher

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<p>The hardest sell in Australian real estate is convincing anyone they should invest in Tasmania.</p>
<p>It’s been many years since I wanted to try. But the time has arrived to put Tasmania back on the investor radar screen.</p>
<p>For years Tasmania has ranked last or second last among the states and territories on most economic and property indicators. It has a reputation, justified in many cases, as a place that lacks growth of any sort that matters, whether it be population, economic or housing prices.</p>
<p>It’s a cruel reality that it’s easy to get a bad reputation and very hard to lose it. Tasmania is emerging from the deep doldrums that had it ranked last on the list of investment possibilities for most Australians – but it will take time to convince anyone.</p>
<p>But, for the first time in many years, Tasmania’s main cities have been included in the Hotspotting reports that forecast of the growth markets of the future.</p>
<p>Slowly, but steadily the news is getting better. Economic indicators have improved and market dynamics are more positive.</p>
<p><span>A recent NAB report gave a generally optimistic outlook for the Tasmanian economy. It </span>found that the state’s economic outlook had improved over the past year, thanks in part to increased business investment and a domestic tourism renaissance.</p>
<p>“This trend is set to continue as the Australian dollar falls, making domestic holidays more attractive for Australians,” it said. “Meanwhile, a falling unemployment rate alongside a rising participation rate suggest that the fundamentals in the Tasmanian labour market are improving.<span style="line-height: 1.3em;"> </span></p>
<p>“This is further supported by a slowing rate of interstate migration, which points to a stabilising labour force.</p>
<p>“Stronger activity in dwelling construction is also expected to contribute positively to growth.”</p>
<p>The report forecast economic growth of 2.25% in 2015-16 and 2.0% in 2016-17. </p>
<p>The tourism revival is a big part of the brighter picture. A record 988,000 interstate travellers crossed Bass Strait in 2014-15, a 13% increase. With international visitors up 22%, overall visitors totaled 1.15 million.</p>
<p>With Qantaslink adding 11 return flights to Hobart per week, meaning an estimated 60,000 additional visitors per year, that record may be surpassed.</p>
<p>Visitor spending rose 9% (or $150 million) to $1.89 billion last financial year, so the industry packs some punch for the state’s economy.</p>
<p>Against that background, property markets have been slowly improving over the past 12-18 months. Sales volumes have grown in both Hobart and Launceston – in baby steps, but heading in the right direction.</p>
<p>Affordability is a big factor in favour of the Tasmanian market. Hobart’s median dwelling price of $320,000 looks attractive to mainland investors when placed alongside Melbourne’s $560,000 and Sydney’s $770,000.  </p>
<p>Hobart also looks good from the viewpoint of rental returns, particularly units which have a median rental yield around 5.5%, the best among the capital cities. The median house yield, 5.2%, is second only to Darwin.</p>
<p>It brings to mind the last time Tasmania had a genuine property boom, back in 2003/2004, when it caught the property invesetment wave from the mainland. With Melbourne prices now high after a couple of years of solid growth, we may see a similar pattern of behaviour this time around.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em><span style="line-height: 1.3em;"> </span></p>
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terryryder-YECXbqmri2

Tasmania the hardest sell in Australian real estate: Terry Ryder

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<div>Having recently listed on the securities exchange, Australian Finance Group (AFG) now opts to release its aggregate mortgage data on a quarterly basis, having previously released monthly figures.</div>
<div> </div>
<div>The figures for the September 2015 quarter, which are not seasonally adjusted, revealed a +16% year-on-year increase in mortgage volumes.</div>
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<div><a href="/images/2015/10/15/AFG1.jpg" target="_blank">Click to enlarge</a></div>
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<span>Mortgage volumes have increased by more than +68% over the past three years, which may be partly reflective of changes in market share. </span><br><br><strong><span style="text-decoration: underline;">Average mortgage size soars</span></strong><br><br><div>Significantly the average new mortgage size in Australia has soared further from $433,000 to $471,000 over the past year.</div>
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<div><a href="/images/2015/10/15/AFG2.jpg" target="_blank">Click to enlarge</a></div>
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<div>Unsurprisingly, the main driver of the gains has been the average size of mortgages sold in New South Wales which has jumped by more than $60,000 over the past year, and has soared from $454,000 to $584,000 over the past three years. </div>
<div> </div>
<div>Over the past year the average mortgage size also increased significantly in Victoria (+$34,000), Queensland (+$24,000), South Australia (+$30,000).</div>
<div> </div>
<div>There were also increases over the last year in Western Australia and the Northern Territory, but these resources states saw declines in their respective average mortgage sizes in Q3 2015.</div>
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<div><a href="/images/2015/10/15/AFG3.jpg" target="_blank">Click to enlarge</a></div>
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<div><strong><span style="text-decoration: underline;">Investor market share declines</span></strong></div>
<div> </div>
<div>Perhaps the most significant aspect of this release was the very sharp drop in investor market share.</div>
<div> </div>
<div>According to AFG the investor share appears to have stabilised in recent months at around 32 to 33% of the mortgage market.</div>
<div> </div>
<div>Notably investor market share for Q3 2015 of just 33% was well below the 3 year average of 38%.</div>
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<div><a href="/images/2015/10/15/AFG4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/15/AFG4.jpg" alt=""></div>
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<div class="separator">This once again implies that APRA's advisory speed limit of +10 per cent annualised credit growth in relation to invetsment loans will be comfortably met in due course, and the housing market story going forward will largely be one of to what extent owner-occupier loans pick up the slack.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Westpac taps the market with raising</span></strong></div>
<div class="separator"> </div>
<div class="separator">This morning Westpac went into a trading halt and announced that it would be tapping investors for a $3.5 billion renounceable entitlement offer in order to bolster its capital position, while noting in a separate announcement to the ASX that it will be whacking 20bps onto its home loan and investment loan rates, effective from November.</div>
<div class="separator"> </div>
<div class="separator">It is widely expected that the other retail banks will follow suit in due course in respect to mortgage rates.</div>
<div class="separator"> </div>
<div class="separator">This move seems likely to be a game changer for cash rate futures markets, with another interest rate cut from the Reserve Bank as soon as next month already considered by some to be an each way bet.</div>
<div class="separator"> </div>
<div class="separator">If Thursday's employment data is weaker than expected then a rate cut in November may become more likely than not.</div>
<div class="separator"> </div>
<div class="separator">AFG noted in its release that many borrowers consider further rate cuts to be increasingly likely, with fixed rate mortgages declining to just 11.3% of total loans processed for the quarter, which is the lowest level for more than three years. </div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Average mortgage size soars: Pete Wargent

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<p><span>'Tis an odd thing, by but the </span>Detailed Labour Force<span> figures are so often overlooked or ignored by market commentary, though fortunately not by everybody. Here's ex-Reserve Bank boffin and now ANZ market economist Justin Fabo.</span></p>
<p><a href="/images/2015/10/26/Fabo.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/Fabo.jpg" alt=""></span></p>
<p> </p>
<div>Indeed so, the employment data has improved significantly for Brisbane over the year to September 2015. Let's take a look at the latest figures in 3 short parts.</div>
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<p><strong><span style="text-decoration: underline;">Part 1 - Large states</span></strong></p>
<div> </div>
<div>Most employment growth over the last 12 months has taken place in Sydney (+68k) and Melbourne (+55k)...but lookee here, because hey presto, regional New South Wales is now creating jobs again (+55k)!<br><br>Regional New South Wales has seen jobs created particularly in Newcastle &amp; Lake Macquarie, the Hunter Valley and the Illawarra. On the other hand regional Victoria has seen total employment decline.</div>
<p><a href="/images/2015/10/26/LF1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/26/LF1.jpg" alt=""></p>
<p><span>Looking at employment growth cumulatively in the two most populous states, we can see that the outlook in regional New South Wales has certainly improved, although the most employment is still created in the Greater Metropolitan area. </span></p>
<p><a href="/images/2015/10/26/LF2.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/LF2.jpg" alt=""></span></p>
<p> </p>
<p><span>Better still, the total figures reported for regional unemployment now seems to be declining again after a worrying surge through 2014.</span><br><br><span>This represents evidence that at least some of the fallout from mining and construction contract layoffs is now in the rear view mirror, at least from an employment perspective. While aggregate demand may still be in declining in some mining regions, many of those contracted for the construction phase of mining projects have now returned to the capital cities. </span></p>
<p><a href="/images/2015/10/26/LF3.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/LF3.jpg" alt=""></span></p>
<p> </p>
<p><strong><span style="text-decoration: underline;">Part 2 - Brisbane bounce</span></strong><br><br></p>
<div>The other location which created a material number of jobs over the past year was Brisbane (+34k).<br><br>In fairness - while not charted here due to immateriality - Hobart's small labour market has also been picking up very nicely (+3k).<br><br>Not so much doing elsewhere.</div>
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<div><img src="/images/2015/10/26/LF4.jpg" alt=""></div>
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<div><span>Piecing the jobs growth data together, over the past year the growth in employment has been almost entirely accounted for by Greater Sydney (30 per cent), Greater Melbourne (25 per cent), Greater Brisbane (15 per cent), and regional New South Wales (24 per cent).</span></div>
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<div><span><img src="/images/2015/10/26/LF5.jpg" alt=""></span></div>
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<div>
<strong><span style="text-decoration: underline;">Part 3 - Unemployment dispersion</span></strong><br><br><div>The dispersion of unemployment rates across Australia continues.</div>
<div> </div>
<div>Amazingly enough Hobart recorded an unemployment rate of just 4.9 per cent in September, a remarkable turnaround as the Aussie dollar has depreciated, evidently boosting the local economy.<br><br>Unemployment has also declined steadily in Greater Brisbane (5.4 per cent) and Melbourne (6.3 per cent).<br><br>Meanwhile in Greater Sydney unemployment remains relatively low (5.3 per cent), though the Sydney result has been skewed higher by rising unemployment rates on the Central Coast, and in Blacktown.</div>
<div> </div>
<div>On the other hand, Perth (6.1 per cent) and Adelaide (7.6 per cent) have unemployment rates that remain in a clear uptrend.<br><br>Smoothing the original data on a rolling annual basis reveals the dispersion more clearly, with Hobart, Brisbane, and Melbourne showing the greatest improvement.</div>
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<div><img src="/images/2015/10/26/LF6.jpg" alt=""></div>
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<div>
<div>I've been concerned about unemployment rates in a number of regional centres of the last year or two, so it has been pleasing to see the reported unemployment rates falling sharply in cities such as Geelong (4.8 per cent), Newcastle (5.1 per cent), the Hunter (7.3 per cent), though unemployment rates remain too high for comfort in a number of Queensland regions.</div>
<br><div>Greater Brisbane's unemployment rate has ticked down to 5.9 per cent on a 12mMA basis after some elevated readings at the beginning of 2015, despite an unemployment rate of above 9 per cent in Logan-Beaudesert.</div>
<p><a href="/images/2015/10/26/LF7.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/26/LF7.jpg" alt=""></p>
<p> </p>
<p><span>On the other hand Greater Adelaide's unemployment rate is now tracking consistently at around 7.6 per cent or above, and has ticked up to 7.3 per cent on a 12mMA basis. </span></p>
<p><a href="/images/2015/10/26/LF8.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/LF8.jpg" alt=""></span></p>
<p><span> </span></p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Brisbane looking up: Pete Wargent

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<p><span>The number of homes taken to auction this week increased to 3,086, up from 2,858 over the previous week, while the preliminary clearance rate of 66.6% is down from 67.4% last week, making this week the second lowest clearance rate recorded all year. </span></p>
<p><span>The clearance rate has now been below the 70% mark for 6 weeks in a row. Over the corresponding week last year, the clearance rate was 69.3% and 3,231 auctions were held.</span></p>
<p><a href="/images/2015/10/26/20151026-capital-city.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/20151026-capital-city.jpg" alt="" width="743" height="558"></span></p>
<p> </p>
<p><span>Across </span><strong>Melbourne</strong><span>, auction volumes are the highest they have been all year with 1,663 properties taken to auction this week, while the clearance rate of 69.8% fell from 72.7 per cent across 1,398 auctions last week. This is the third lowest clearance rate for the year. At the same time last year, Melbourne was host to 1,837 auctions and a clearance rate of 71.0% was recorded. The busiest Melbourne sub-region this week was the Inner region where 341 auctions were held and a clearance rate of 73.7% was recorded.</span></p>
<p><a href="/images/2015/10/26/20151026-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/20151026-Melbourne.jpg" alt="" width="676" height="454"></span></p>
<p> </p>
<p><strong>Sydney’s</strong><span> preliminary auction clearance rate improved this week after the lowest clearance rate for the year was recorded last week. This week, 64.4% of the 995 auctions scheduled were successful, up from 63.7% across 1,105 auctions over the previous week. Although the clearance rate has improved this week, it is still well below the 74.8% recorded across 961 auctions at the same time last year. The Eastern suburbs sub-region of Sydney has shown the strongest performance so far this week, with 84.3% of the 109 reported results selling, with 20 remaining results yet to be collected.</span></p>
<p><a href="/images/2015/10/26/20151026-Sydney.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/20151026-Sydney.jpg" alt="" width="704" height="475"></span></p>
<p> </p>
<p><span>In </span><strong>Brisbane</strong><span>, 223 auctions were held this week and a clearance rate of 54.8 % was recorded. Looking at last week, volumes were lower with 145 properties taken to auction and a clearance rate of 47.6%. Over the same week last year, 46.3% of the 211 auctions were successful. The </span><strong>Gold Coast </strong><span>saw 71.4% of the 21 reported auctions sell this week.</span></p>
<p><a href="/images/2015/10/26/20151026-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/20151026-Brisbane.jpg" alt="" width="795" height="530"></span></p>
<p> </p>
<p><span>This week, </span><strong>Adelaide</strong><span> recorded a preliminary clearance rate of 74.6%; with 67 reported results across a total of 103 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 67.5% and 56.5% one year ago.</span></p>
<p><a href="/images/2015/10/26/20151026-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/26/20151026-Adelaide.jpg" alt="" width="814" height="552"></span></p>
<p> </p>
<p>There were 33 <strong>Perth</strong> auctions this week and so far 16 results have been reported, with just 31.3%selling. Last week there was a 46.2% clearance rate for Perth although only 16 auctions were held.</p>
<p><strong>Canberra’s</strong> preliminary auction clearance rate of 67.6% this week is similar to last week, when the final auction clearance rate was 68.0% and higher than the 58.3% recorded last year.</p>
<p>Of the 8 <strong>Tasmanian</strong> auction results reported so far this week, 4 sales have been recorded.</p>
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Melbourne’s clearance rate falls below 70%: CoreLogic RP Data's Shana Miller

<html><body>
<div>Now the construction sector is expanding again per AIG.</div>
<div> </div>
<div>Some good analysis from AIG that is well worth a read - apartment construction is an obvious strong point, which makes the drag on second quarter GDP by dwelling construction something of a mystery.</div>
<div> </div>
<div>Perhaps the residential construction industry is operating at or close to its full capacity?</div>
<div> </div>
<div>In any case, I expect dwelling construction to contribute to the economic growth in the third quarter.</div>
<p><a href="/images/2015/09/09/PCI.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/09/09/PCI.jpg" alt=""></p>
<p> </p>
<p><span>All three of </span>AIG's Performance Indices<span> are now in expansion territory - manufacturing, construction and services.</span></p>
<p><a href="/images/2015/09/09/AIG.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/09/09/AIG.jpg" alt=""></p>
<p>Source: AIG</p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Construction expands in August: Pete Wargent

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<div>The ABS released its Labour Force data for August 2015, which came in somewhat better than had been expected. </div>
<div> </div>
<div>The market had feared material downward revisions to employment figures following amendments to population growth assumptions, but happily in the event the impact was fairly benign.</div>
<div> </div>
<div>It is nevertheless worth looking at the revised data in the long run employment chart below to show the new shape of the chart...which is to say, essentially very similar.</div>
<div> </div>
<div>Total employment was revised down, but over the year total employment still increased by +235,000 or +2.0% (up from +1.8% in the year to July), an impressive headline figure and the strongest annual increase in the seasonally adjusted data series since April 2011.</div>
<div> </div>
<div>Handily this rate of employment growth is now far ahead of the rate of population growth, which following the latest Arrivals &amp; Departures (see link for more) figures I now estimate to be tracking at only around +1.3%.</div>
<div> </div>
<div><a href="/images/2015/09/11/A1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/11/A1.jpg" alt=""></div>
<div> </div>
<div><span>Employment rose by +17,400 in August following an upwardly revised gain in employment of +39,200 in August, which is a fine result in the circumstances and well ahead of market expectations of +5,000.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/09/11/LF3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/09/11/LF3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Full time jobs accounted for most of the monthly gains, and over the past year there have been more full time jobs created (+130,700) than part time positions (+104,200) - although as you can see below part time employment is taking a more significant role in the labour force than it once did. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/09/11/A4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/09/11/A4.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div class="separator"><strong><span style="text-decoration: underline;">State versus state...&amp; the unemployment rate</span></strong></div>
<div class="separator"> </div>
<div class="separator">The net employment gains in August were mainly accounted for by Queensland (+11,200) and New South Wales (+9,200), with the New South Wales economy adding a thunderous +118,800 jobs over the past year, more than half of the total for Australia, and overwhelmingly full time positions.</div>
<div class="separator"> </div>
<div class="separator">Victoria (+63,000), Western Australia (+22,100) and Queensland (+20,700) also added net employment over the past year, but South Australia has gone backwards over the same time period. </div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2015/09/11/A5.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2015/09/11/A5.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator">
<span>I have been warning here for at least a couple of years now that the longer this ugly dynamic continues and without a kickstart for the local economy the greater the fallout could be in terms of South Australian unemployment. </span><br><span><br></span><span>Amazingly there were more full time employed persons in Q4 2007 in South Australia than there are today. </span><br><span><br></span><span>The below graphic shows that while the New South Wales economy has added a stonking +267,200 jobs over the past five years, the two southern states combined have added essentially none. </span>
</div>
<div class="separator"><span> </span></div>
<div class="separator"><a href="/images/2015/09/11/A2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div class="separator"><span> </span></div>
<div class="separator"><span><img src="/images/2015/09/11/A2.jpg" alt=""></span></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div class="separator">
<div>That said, with the depreciating dollar the outlook for Tasmania has improved considerably over the past 18 months, and without sigificant population growth to be absorbed the trend unemployment rate in the Apple Isle has declined from a peak of 8.1 per cent in August 2013 to just 6.5 per cent today.<br><br>That's great to see.</div>
<div> </div>
<div>Unfortunately the same cannot be said for South Australia where the trend unemployment rate has spiked alarmingly from 6.6 per cent to 8.1 per cent and rising in less than a year. </div>
<div> </div>
<div>Concerningly it appears likely that there may yet be worse to come as the "Holden effect" takes its toll across the suburbs of Adelaide, with mining and manufacturing two of the worst hit sectors of the labour market.</div>
<div> </div>
<div>The unemployment rate in resources rich Western Australia has also continued to trend up to 6.1 per cent from just 3.7 per cent in June 2012. </div>
<div> </div>
<div><a href="/images/2015/09/11/a7.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/11/a7.jpg" alt=""></div>
<div> </div>
<div>
<div>New South Wales has been the clear standout despite soft regional employment growth, with low interest rates allowing the Sydney economy and housing market to fire on all cylinders. </div>
<div>
<br>At the national level despite some statistical noise along the way the trend unemployment rate has now been steady for the past 12 months at 6.2 per cent.</div>
<div> </div>
<div><a href="/images/2015/09/11/A6.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/11/A6.jpg" alt=""></div>
<div> </div>
<div>
<div>With the rate of employment growth comfortablt outpacing the rate of population growth, has the unemployment rate therefore peaked for this cycle? Perhaps, but the jury is still out on that one. </div>
<div class="separator"> </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>This was a robust result with the economy adding a sprightly +235,000 jobs over the past year and with corresponding important implications for monetary policy settings. </div>
<div> </div>
<div>Had the unemployment rate jumped higher as had been anticipated by some analysts prior to this release then the Reserve Bank may well have been inclined to pull the trigger on further interest rate cuts.</div>
<div> </div>
<div>Fortunately in the event the labour force figures were considerably better than had been feared and markets now appear fairly certain that interest rates will stay on hold at 2 per cent through October. </div>
</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
</div>
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Unemployment falls back to 6.2%: Pete Wargent

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<p><span>So far this week, 2,127 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 72.1% across the combined capital cities. </span></p>
<p><span>There were a total of 2,615 capital city auctions held this week. This week’s result indicates that clearance rates are no longer tracking higher than they were one year ago, when the final auction clearance rate over the week was 72.3% across 2,080 auctions. Over the previous week there were 2,297 auctions with a clearance rate of 73.2%.</span></p>
<p><a href="/images/2015/09/14/20150914-Capital-city.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Capital-city.jpg" alt="" width="840" height="635"></span></p>
<p> </p>
<p><span>In </span><strong>Melbourne</strong><span>, Australia’s largest auction market, a preliminary auction clearance rate of 73.7% was recorded across 1,181 auctions this week. Last week, Melbourne’s final clearance rate was recorded at 75.1% across 992 auctions, while this time last year, 1,018 properties were taken to auction across Melbourne and a clearance rate of 73.4% was recorded. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 248 and 210 auctions were held respectively. Across these two sub-regions, the preliminary clearance rates were 71.2% across the Inner region and 71.8 per cent across the Inner South.</span></p>
<p><a href="/images/2015/09/14/20150914-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Melbourne.jpg" alt="" width="817" height="545"></span></p>
<p> </p>
<p><strong>Sydney’s</strong><span> preliminary auction clearance rate was 75.1% this week, the 10th week in a row where Sydney has recorded a result below 80%. Last week, Sydney’s clearance rate was 76.9%, while one year ago, results show that 78.4% of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were higher, up to 1,046 from 1,023 last week. One year ago just 743 Sydney homes were taken to auction over the week. The Northern Beaches sub-region of Sydney has shown the strongest performance so far this week, with 84.4% of the 45 reported results selling, with 18 remaining results yet to be collected.</span></p>
<p><a href="/images/2015/09/14/20150914-Sydney.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Sydney.jpg" alt="" width="828" height="561"></span></p>
<p> </p>
<p><strong>Brisbane’s</strong><span> preliminary clearance rate this week was 54.9%, up from 42.9 per cent last week. There were 178 Brisbane auctions this week, compared to 130 last week. The </span><strong>Gold</strong><span> </span><strong>Coast</strong><span> was host to 73 auctions this week. Based on the results reported to CoreLogic RP Data so far, 46.5% have been sold.</span></p>
<p><a href="/images/2015/09/14/20150914-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Brisbane.jpg" alt="" width="808" height="548"></span></p>
<p> </p>
<p><span>This week, </span><strong>Adelaide</strong><span> saw a preliminary clearance rate of 62.0%, with 71 reported results across a total of 88 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 69.5% and 64.3% one year ago.</span></p>
<p><a href="/images/2015/09/14/20150914-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Adelaide.jpg" alt="" width="799" height="536"></span></p>
<p> </p>
<p>There were 35 <strong>Perth</strong> auctions this week and so far 13 results have been reported, with 61.5% selling. Last week there was a 36%clearance rate for Perth.</p>
<p>Across <strong>Canberra</strong> a total of 79 auctions were held this week, compared to 52 last week and 51 at the same time last year. Canberra’s preliminary clearance rate of 63.6% is lower than it was the previous week (71.7%).</p>
<p>In <strong>Tasmania</strong>, 5 auctions were reported to CoreLogic RP Data with 4 sales. Last week, 5 auctions were reported with only 1 sale.</p>
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Auction volumes rise to 2,615 across capital cities: CoreLogic RP Data's Shana Miller

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<p>Auction clearance rates fell for the third consecutive week across the combined capital cities, down to 61.0% last week across a total of 2,288 reported auction results.</p>
<p>The number of auctions due to be held across the capital cities this week rose to 3,068 from 2,547 last week when there were just 629 auctions held across Melbourne as the city prepared for Melbourne Cup.</p>
<p>This week, 1,262 auctions are scheduled for Melbourne and 1,297 across <strong>Sydney, </strong>accounting for over 80% of all capital city auctions. These figures also demonstrate just how much of an impact these two auction markets results can have on the weighted average clearance rate. Last week, Sydney’s final clearance rate fell to 60.2%, heightening the reality that the clearance rate could likely slip into the 50’s over the coming weeks to wrap up an otherwise strong year for the city.</p>
<p><strong>Brisbane</strong>, <strong>Canberra</strong>, <strong>Sydney</strong>, and <strong>Perth</strong> are all expecting fewer auctions than last week, while in <strong>Melbourne</strong> and <strong>Adelaide</strong>, the number of auctions this week relative to last week is higher.</p>
<p>Compared to last year when there were 2,942 auctions held across the combined capitals, auction activity will be busier in Adelaide, Melbourne and Sydney this year, while volumes are expected to be slightly lower in Brisbane, Canberra and Perth as per below</p>
<p><strong>Sydney</strong>: 1,297 this year, 1,261 last year<br><strong>Melbourne</strong>: 1,262 this year, 1,139 last year<br><strong>Adelaide</strong>: 151 this year, 131 last year<br><strong>Canberra</strong>: 127 this year, 141 last year<br><strong>Brisbane</strong>: 173 this year, 188 last year<br><strong>Perth</strong>: 45 this year, 65 last year</p>
<p>In terms of clearance rates, last week the best performing capital city auction market was Canberra, where 71.0% of the reported auctions were successful. Following this was Melbourne, where the final auction clearance rate for the week came in at 65.6%.</p>
<p>This week, the busiest individual suburbs for auctions nationally are Mount Waverley (Vic) with 23, Glen Waverley (Vic) with 18 and Mosman (NSW) with 17.</p>
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