<p>Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;</p>

<p>The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;</p>

<p>St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;</p>

<p>Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.</p>

<p>Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;</p>

<p>"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;</p>

<p>"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;</p>

<p>Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;</p>

<p>Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;</p>

<p>The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;</p>

<p>St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.</p>

<p>[smartcode_project_cta:default project_id=151826]</p>


Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.</p>

<p>Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.</p>

<p>The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.</p>

<p>The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.</p>

<p>Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.</p>

<p>[smartcode_project:default project_id=7574 project_image_fid=351654]</p>

<p>Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.</p>

<p>“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.</p>

<p>“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.</p>

<p>“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.</p>

<p>“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”</p>

<p>2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.</p>

<p>The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.</p>

<p>A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.</p>


Sherpa acquires new site for second Brisbane apartment tower

<p>One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.</p>

<p>Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.</p>

<p>The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.</p>

<p><img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" /></p>

<p>Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.</p>

<p>Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.</p>

<p>The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.</p>

<p>Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.</p>

<p>The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.</p>

<p>That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.</p>

<p>The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.</p>

<p>"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.</p>

<p><img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" /></p>

<p>Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.</p>

<p>The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.</p>

<p>The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.</p>

<p>According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.</p>

<p>The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.</p>

<p>A significant component of the proposal is the revitalisation of Blue Street Plaza.</p>

<p>The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.</p>

<p>Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.</p>

<p>Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.</p>

<p>Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.</p>

<p>Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.</p>

<p>The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.</p>

<p>Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.</p>

<p>&nbsp;</p>

<p>FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.</p>

<p>Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.</p>

<p>Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.</p>


First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

<p>Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.</p>

<p>The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.</p>

<p>The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.</p>

<p>The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.</p>

<p><img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" /></p>

<p>The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;</p>

<p>PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.</p>

<p>The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.</p>

<p>Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.</p>

<p>"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.</p>

<p>Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.</p>

<p>A major focus of the design has been the public domain.</p>

<p>The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.</p>

<p>The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.</p>

<p data-end="239" data-start="66">Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.</p>

<p data-end="442" data-start="241">Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.</p>

<p data-end="661" data-start="444">Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.</p>

<p data-end="909" data-start="663">Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a></em></p>

<p data-end="1339" data-start="1019">Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.</p>

<p data-end="1339" data-start="1019">[smartcode_project:default project_id=30959 project_image_fid=292863]</p>

<p data-end="1398" data-start="1341">It has since quietly assembled its next wave of projects.</p>

<p data-end="1805" data-start="1400">Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.</p>

<p data-end="1805" data-start="1400">[smartcode_project:default project_id=152095 project_image_fid=373685]</p>

<p data-end="1991" data-start="1807">The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.</p>

<p data-end="2303" data-is-last-node="" data-is-only-node="" data-start="1993">Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a></em></p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a></em><br />
&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

<p data-end="492" data-start="327">Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.</p>

<p data-end="843" data-start="497">At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.</p>

<p data-end="1109" data-start="848">The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.</p>

<p data-end="1109" data-start="848">[smartcode_project:default project_id=152022 project_image_fid=375528]</p>

<p>Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.</p>

<p>The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.</p>

<p>"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375531]</p>

<p>The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.</p>

<p>The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375524]</p>

<p>Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.</p>

<p>Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.</p>

<p>[smartcode_project:default project_id=152022 project_image_fid=375530]</p>

<p>The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.</p>

<p>The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.</p>

<p>The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.</p>

<p>"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.</p>

<p>"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."</p>

<p>Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.</p>

<p>[smartcode_project_cta:default project_id=152022]</p>


Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

<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?

<p>Not all apartment amenities are immediately visible.</p>

<p>Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.</p>

<p>Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe></p>

<p>Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.</p>

<p>The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.</p>

<p>It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.</p>


Parcel delivery is joining the apartment amenity checklist

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<p><span>A South Brisbane site with 304 apartments designed by the award-winning Cottee Parker have been launched.</span></p>
<p><span>Positioned on a 2,021sqm site at 15-19 Brereton Street, the DA approved elevated site is being marketed through Brendan Hogan and Pat George of Colliers International and Blake Goddard and Elliot O’Shea of JLL via an international expression of interest campaign closing April 20.</span></p>
<p><span>The development has mostly two-bedroom apartments, communal facilities as well as podium parking allowing for significant cost savings.</span></p>
<p><span>“We expect to receive significant interest from both offshore and onshore developers as currently there are very limited opportunities of DA approved sites available in the area that enable immediate commencement of pre-sales and construction of the development," said Hogan.</span></p>
<p><span>Goddard of JLL added that “south Brisbane is a transforming residential hub with entertainment venues, leisure precincts and over 275 restaurants, cafes and bars all within close proximity. It is just over 1km from the Brisbane CBD and well connected by rail, bus and ferry services".</span></p>
<p><span> </span></p>
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DA approved South Brisbane residential site comes to market

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<p><span>A major $50-million refurbishment of the existing Toowong Village Shopping Centre has put Toowong back on Brisbane’s retail map with the shopping centre offering 32,895 sqm of shopping space and a new Sherwood Road restaurant precinct. </span></p>
<p><span>The Toowong Village, prior to the transformation, had largely remained in its original condition since the centre opened in 1986. </span></p>
<p><span>Australasian design firm The Buchan Group was appointed by Retail First to provide architectural, interior and graphic design services to the project. This included new finishes throughout the complex, a reconfigured retail plan, new centre entry statements and an external restaurant precinct. </span></p>
<p><span>The reconfigured retail layout had improved sightlines and pedestrian circulation flow, said Buchan Group senior associate Anthony Tai.</span></p>
<p><span>“The team’s brief was to complete an internal revamp of the centre and to create a more lively ‘street presence’ for the centre externally,” he said.</span></p>
<p><span>“By activating the previously blank façade of the shopping centre with a new restaurant precinct, and by increasing the amount of casual dining options on offer for nearby apartment dwellers, the centre has been urbanised and integrated into the existing Sherwood Road streetscape."</span></p>
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Brisbane's Toowong Village shopping centre's $50-million makeover complete  

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<p><span style="line-height: 1.3em;">The top sale of the week was a five bedroom, four bathroom home in Rose Bay with harbour views which sold for $6.3 million, according to CoreLogic RP Data.</span></p>
<p>The home, <a href="https://www.domain.com.au/1-cecil-road-rose-bay-nsw-2029-9450545" target="_blank">1 Cecil Road, <span>Rose Bay</span></a> was sold through Laing + Simmons Double Bay/Novak Properties.</p>
<p> </p>
<p>Top ten sales</p>
<p>1 Cecil Road, <span style="line-height: 1.3em;">Rose Bay, NSW </span><span style="line-height: 1.3em;">5 bed, 4 bath, 6 car house, </span><span style="line-height: 1.3em;">$6,300,000 </span><span style="line-height: 1.3em;">Laing + Simmons Double Bay/Novak Properties </span></p>
<p>9 South Street, <span style="line-height: 1.3em;">Strathfield, NSW </span><span style="line-height: 1.3em;">7 bed, 6 bath, 4 car house, </span><span style="line-height: 1.3em;">$5,710,000 </span><span style="line-height: 1.3em;">Devine Real Estate </span></p>
<p>24 Eastbourne Avenue, C<span style="line-height: 1.3em;">lovelly, NSW </span><span style="line-height: 1.3em;">4 bed, 3 bath, 2 car house, $</span><span style="line-height: 1.3em;">5,100,000 </span><span style="line-height: 1.3em;">Phillips Pantzer Donnelley </span><span style="line-height: 1.3em;">Woollahra </span></p>
<p><span style="line-height: 1.3em;">244 Oberon Street, </span><span style="line-height: 1.3em;">Coogee, NSW </span><span style="line-height: 1.3em;">5 bed, 3 bath, 1 car house, </span><span style="line-height: 1.3em;">$4,650,000 </span><span style="line-height: 1.3em;">Phillips Pantzer Donnelley </span><span style="line-height: 1.3em;">Woollahra </span></p>
<p>14 Agnes Street, <span style="line-height: 1.3em;">Strathfield, NSW </span><span style="line-height: 1.3em;">5 bed, 5 bath, 2 car house, </span><span style="line-height: 1.3em;">$4,600,000 </span><span style="line-height: 1.3em;">Devine Real Estate </span></p>
<p>36 Chilton Parade, <span style="line-height: 1.3em;">Warrawee, NSW </span><span style="line-height: 1.3em;">5 bed, 4 bath, 2 car house, </span><span style="line-height: 1.3em;">$4,525,000 </span><span style="line-height: 1.3em;">LJ Hooker </span><span style="line-height: 1.3em;">Wahroonga </span></p>
<p>38 Billyard Avenue, <span style="line-height: 1.3em;">Wahroonga, NSW </span><span style="line-height: 1.3em;">5 bed, 3 bath, 3 car house, </span><span style="line-height: 1.3em;">$4,400,000 </span><span style="line-height: 1.3em;">LJ Hooker </span><span style="line-height: 1.3em;">Wahroonga </span></p>
<p>28 Lisbon Street, <span style="line-height: 1.3em;">Glen Waverley, Vic </span><span style="line-height: 1.3em;">6 bed, 6 bath, 3 car house, </span><span style="line-height: 1.3em;">$4,080,000 </span><span style="line-height: 1.3em;">Harcourts Judd White </span></p>
<p>49 Rosserdale Crescent, <span style="line-height: 1.3em;">Mount Eliza, Vic  </span><span style="line-height: 1.3em;">4 bed, 3 bath, 3 car house, </span><span style="line-height: 1.3em;">$4,000,000 </span><span style="line-height: 1.3em;">Aqua Real Estate </span><span style="line-height: 1.3em;">Mount Eliza </span></p>
<p>75 Argyle Road,  <span style="line-height: 1.3em;">Kew, Vic  </span><span style="line-height: 1.3em;">5 bed, 4 bath, 6 car house, </span><span style="line-height: 1.3em;">$3,850,000 </span><span style="line-height: 1.3em;">Kay &amp; Burton </span><span style="line-height: 1.3em;">Hawthorn</span></p>
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Rose Bay family home leads CoreLogic RP Data top ten sales

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<p><span style="line-height: 1.3em;">The preliminary clearance rate for the Gold Coast stands at 29.4 percent from 66 total auctions for the week ending March 20, according to CoreLogic RP Data.</span></p>
<p>Victoria's Geelong came in at 68.8 percent and NSW's Wollongong at 5.3 percent.</p>
<p><a href="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%201.04.44%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%201.04.44%20PM.png" alt=""></p>
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Gold Coast clearance rate stands at 29.4 percent: CoreLogic RP Data

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<p><span>Melbourne's Inner, North East and Inner East recorded the strongest preliminary clearance rates for the week ending 20 March, according to CoreLogic RP Data at 78.6 percent, 74.7 percent and 74.5 percent respectively.</span></p>
<p><span> Melbourne’s Inner region was also the busiest auction market this week (390 auctions), followed by Inner South (291 auctions) and Inner East (283).</span></p>
<p><a href="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%2012.52.34%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%2012.52.34%20PM.png" alt=""></p>
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Melbourne's Inner, North East and Inner East recorded the strongest clearance: CoreLogic RP Data

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<p>Childcare centres are much sought-after by investors, with a purpose-built childcare centre in Sydney's Dee Why selling for $6 million to a private investor at auction this week through Colliers International.</p>
<p>The two-storey centre at 63 Lynwood Avenue is approved for 86 childcare places.</p>
<p>It was custom built in 2009 on a 1672 sqm block, said selling agents Brian McInally and Corey Beauchamp of Colliers International.</p>
<p>The property earns a net rental of $358,537 plus GST per annum, and the sale translates to a yield of 5.97%.  </p>
<p>“While we’re seeing yields compress in this asset class, childcare properties are still highly lucrative for investors when compared to other property classes,” said McInally.</p>
<p>The centre is privately run, with the parties agreeing to a 10-year lease with a 10-year option.</p>
<p>It was bought by a private investor, who has a portfolio of petrol stations and was looking to diversify. </p>
<p>“Childcare is an appealing option for many investors,” said McInally. </p>
<p>“Demand for childcare places will continue to grow. Our population growth, combined with the strong diversity push to encourage more mothers to return to work means that childcare places are hotly contested. This demand will fuel further growth in childcare property.”</p>
<p>Recently, another childcare centre in Melbourne's Camberwellwas snapped up by a China-based investor for $6.82 million on a tight yield of 5.05 percent. </p>
<p>The buyer paid more than $400,000 over the reserve for the hotly contested property.</p>
<p>The sale follows a similar result late last year when a China-based investor paid $2.3 million on a 5.1 per cent yield for a childcare centre at Rowville.</p>
<p>Late last year, two childcare centres were sold at a Burgess Rawson portfolio auction in Melbourne for well above $3 million and yields of 5.6 percent.</p>
<p>The one in Hampton sold for $3.95 million and the other in Heatherton for $3.2 million.</p>
<p> </p>
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Childcare centre in Sydney's Dee Why sells for $6 million, reinforcing recent trend

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<p><span style="line-height: 1.3em;">Sydney had a preliminary</span><span style="line-height: 1.3em;"> </span><span style="line-height: 1.3em;">clearance rate of 75.7 percent for the week ending 20 March, according to CoreLogic RP Data.</span></p>
<p><span>North Sydney and Hornsby had 182 auctions held, 145 in the Eastern Suburbs. Clearance rates reached 84.7 percent in North Sydney and Hornsby 46.7 percent in the South West.</span></p>
<p> </p>
<p><a href="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%2012.45.29%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/21/Screen%20Shot%202016-03-21%20at%2012.45.29%20PM.png" alt=""> </p>
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North Sydney, Hornsby lead Sydney weekend clearance rates: CoreLogic RP Data

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<div>The Labor Party's Opposition Leader Bill Shorten and Shadow Treasurer Chris Bowen had pledged to limit negative gearing to new properties only from 1 July 2017 in order to save the federal budget a highly questionable $32.1 billion over a decade.<br><br>This always sounded suspect based upon my day-to-day experience in the market given that the overwhelming majority of property investors are only making at worst moderate net rental losses these days.<br><br>Yes, investors have been considerably more active recently due to prevailing low interest rates, but remember the ratio of stock versus flow, while new investors have been generally able to borrow money at around just 4 percent, or somewhere close to it.</div>
<div> </div>
<div>Unfortunately as I expected it transpires that the ALP have botched their numbers, and Labor will accordingly cop a good deal of heat on this point from the Coalition.<br><br><strong><span style="text-decoration: underline;">Net rental losses halved</span></strong>
</div>
<div> </div>
<div>The latest Australian Taxation Office (ATO) Taxation Statistics to 2013-14 show that the potential budget impact of negative gearing to taxpayers has crumbled by well over 50 per cent in only two years (and by considerably more from the peak), and of course there will be more declines to come for at least the next two tax years as well. </div>
<div> </div>
<div>It is no shock to me to discover that net rental deductions have fallen by <strong>more than half</strong> in the two tax years to 2013-14, from $7.9 billion to just $3.7 billion.<br><br>And recall that the cash rate has been cut several times further since 1 July 2013, from 2.75 per to only 2 percent, so there are yet further declines to net rental losses in the post.<br><br>The latest statistics for financial year 2013-14 show that just under 1 million or exactly 60 percent of those claiming net rental losses have a taxable income of less than $80,000 (thereby paying tax at a highest marginal rate of only 32.5 percent or lower), while only 133,307 or 8 percent of those claiming are paying tax at the highest marginal rate.<br><br>It is true to a point that middle aged and slightly older Aussies tend to negatively gear property around their peak earning years. This rings true from my experience and the experiences of my peers - none of us owned rental properties as students, or indeed for some time after that as we paid off student debts and saved initial deposits, but plenty do now we are in our late thirties. </div>
<div> </div>
<div>Given that taxpayers across all taxable income brackets use negative gearing, after tax-effecting net rental losses of only $3.7 billion in financial year 2014 it is clear that as things stand such a move to limit negative gearing to new dwellings prospectively could only save a fraction of the amount claimed from the federal budget.</div>
<p><a href="/images/2016/03/21/NG.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/21/NG.jpg" alt=""></p>
<div> </div>
<div>Remember that Labor is not<strong> </strong>proposing to scrap negative gearing, rather to grandfather existing arrangements and limit negative gearing to new dwellings.<br><br>With a record 776,672 earning a profit for their rental properities, the total cost of negatively geared properties only fell by 12.5 percent to a four year low of $10.9 billion.<br><br>And given that negative gearing losses are carried forward and taxes levied at a future date - or upon eventual sale in event of a capital gain - net rental losses are a timing difference only and the ALP projections are exposed as too optimistic.<br><br><strong><span style="text-decoration: underline;">Further declines in the post </span></strong><br><strong><span style="text-decoration: underline;"><br></span></strong>Realistically, then, the projected $32.1 billion of savings could only feasibly come from cranking up the rate of capital gains tax, itself a crappy tax - an inefficient tax insincerely marketed as a "discount", although in the case of property it is actually levied on top of fairly vicious stamp duties as well as rates/land taxes etc.<br><br>Total capital gains reported by taxpayaers increased by 37 percent to $34.4 billion, largely thanks to fewer loss making transacions as the financial crisis fades into the rear-view mirror. </div>
<div> </div>
<div>It is worth noting in passing that moves to restrict property investor activity and therefore lending would also result in lost levies from stamp duties and reduced company taxes on bank earnings, as well as putting downward pressure on superannuation balances via lower share prices.</div>
<div> </div>
<div>If this sounds harsh on Labor, recall that they were actually in government until 2013, so where were the sweeping policy changes then?<br><br>Ironically, the ALP was in power for a six year stretch when scrapping negative gearing might actually have made a material difference to the budget, but alas that particular ship has now well and truly sailed. </div>
<div> </div>
<div>Futures markets are pricing in a further 25 basis points cut to the cash rate by November 2016, suggesting that the ATO aggeregated statistics for net rental deductions could continue declining for at least another three tax years to come. </div>
<div> </div>
<div>A potent combination of the existing negative gearing rules and low interest rates have encouraged record dwelling investment - and in turn a surge residential construction jobs - and at the same time have done an an sterling job of keeping capital city rents down as new supply comes online apace, encouraged by strong aggregate demand for property and an uplift in prices. </div>
<div> </div>
<div>And all of this is before the potential distortions of encouraging investors to speculate on considerably riskier new properties are even touched upon, let alone the concerning impact of increased public housing costs on the budget.</div>
<div> </div>
<div>On the back of these slim pickings, and given that PM Turnbull has already batted changes to the capital gains tax to the fence, there is Buckley's chance of the Coalition proposing a similar move to the ALP in Opposition.<br><br>Presumably this is for similar reasons that Labor took no such action when they weren't in Opposition - pollies actively deflating a housing market in the midst of a once-in-a-century terms of trade and resources investment bust? It seems like a remote possibility to me, but you can choose to believe whatever you want.<br><br><strong><span style="text-decoration: underline;">The wrap</span></strong><br><br>All of this has been well known about for some time, of course: scrapping negative gearing was never going to be much of a boon for the budget.<br><br>If negative gearing is going to be binned then it should be so on intergenerational grounds or because it represents iniquitous tax legislation, not based upon bogus claims of "billions" to be saved in the budget.<br><br>Finally for today, spare a thought for the taxation figures above, the line items of which I have charted simply as the ATO present them, for they're doubtless set to once again be tortured mercilessly come Monday morning. </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>
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pwargent-M4siyDbqQY

Negative gearing set to stay: Pete Wargent

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<p>A retail property within one of Melbourne’s most iconic retail shopping villages is up for sale for the first time in more than 100 years.</p>
<p>The 930 sqm corner property within Maling Road Village in the Cantebury retail strip will go under the hammer on May 19 for an expected price of around $6 million.</p>
<p>The listing agents are Tom Noonan, Tim McIntosh and Ben Baines of Colliers International.<span style="font-size: 12.16px; line-height: 1.3em;"> </span></p>
<p>“The property is the epitome of a trophy asset, having been under the same ownership for over 100 years. Over that time it has provided a strong income with long-term security," <span>Noonan said.</span></p>
<p>He added that the property is expected to attract both local and offshore interest.</p>
<p>Sitting at the corner of Maling Road and Canterbury Road, the two-level freestanding building has a net lettable area of 790sqm and is fully leased to five local retail tenants, including The Maling Room café, Bendigo Bank, Tim’s Bookshop, Nourish on Maling and Micky Junior Shoes.  </p>
<p>Three of these have been occupants for more than a decade, while four have signed new leases in the last 12 months, added McIntosh.</p>
<p>Originally a post office until 1996, the property is close to Canterbury Train Station.</p>
<p>“The Maling Road retail strip is one of the most prestigious and iconic suburban retail strips in Victoria, with its history as a popular retail destination dating back over 100 years to its inception in the late 1800s," said McIntosh.</p>
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jonathanchancellor-7SQnKwU6yx

Investment property in Melbourne's iconic Maling Road Village up for auction

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<div>
<span>Contrary to what you might think, and despite recent upward pressures, bank funding costs fell in 2015. </span><br><span><br></span><span>The Reserve Bank of Australia (RBA) took a detailed look at this in its ever-enlightening Bulletin this week.</span><br><span><br></span><span>The funding composition of Aussie banks is made up of liabilities, comprised predominantly of domestic deposits which today make up a greater share of total funding than was the case prior to the financial crisis. </span>
</div>
<div><span> </span></div>
<div><span>The remainder of banks' funding composition comprises short term debt, long term debt, equity, plus now a small amount of securitisation. </span></div>
<div><span> </span></div>
<div><span>Domestic deposits, which are a more stable form of funding, made up close to a 60 per cent share of the total by 2014, but this allocation has declined a little lately as the cost of wholesale debt became cheaper, and as banks raised equity in response to forthcoming changes to prudential regulation. </span></div>
<div><span> </span></div>
<div><span>Here's that composition in a chart provided by the RBA:</span></div>
<div><span> </span></div>
<div><a href="/images/2016/03/21/f2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div class="x_separator"><img src="/images/2016/03/21/f2.jpg" alt=""></div>
<div><span> </span></div>
<div>
<strong><span style="text-decoration: underline;"><span>Debt funding costs</span></span></strong><br><span><br></span><span>While the official cash rate acts as an important "anchor" for bank funding costs, changes in the returns or compensation demanded by investors to hold debt can also influence banks' funding costs appreciably.</span>
</div>
<div><span> </span></div>
<div><span>Debt funding costs for major banks fell materially by 70 basis points ("bps") in 2015, in part driven by 25bps interest rate cuts delivered in February and May respectively. </span></div>
<div><span> </span></div>
<div>
<span>Most of the decline in funding costs relative to the cash rate took place in the first half of the last calendar year, with costs reasonably stable in the second half of 2015.</span><br><span><br></span><span>From yonder Bulletin, a chart of said debt funding costs once more, depicting the large decline in debt funding costs since 2008. </span>
</div>
<div><span> </span></div>
<div class="x_separator"><a href="/images/2016/03/21/f3.jpg" target="_blank">Click to enlarge</a></div>
<div class="x_separator"><img src="/images/2016/03/21/f3.jpg" alt=""></div>
<div><span> </span></div>
<div><span>Notably markets are pricing a relatively higher weighted average debt funding cost for the non-major Aussie banks, a dynamic which did not exist so clearly before the financial crisis.</span></div>
<div><span> </span></div>
<div>
<span><strong><span style="text-decoration: underline;">Wholesale funding</span></strong></span><br><span><span><br></span><span>In respect of wholesale funding, the volume of bank bond issuance in the last calendar year was pretty much in line with the year which preceded it, though banks issued a bit less in covered bonds and residential mortgage-backed securities (RMBS). </span></span>
</div>
<div><span> </span></div>
<div><span><span>In terms of the actual mix of wholesale funding, that didn't change all that much either through last year, though a</span> bit of shift from offshore long term to short term debt did see a slight reduction in funding costs for the majors, according to the RBA:</span></div>
<div><span> </span></div>
<div><span><strong>"Through 2015 declines in wholesale funding rates and the rolling over of existing higher-rate funding lowered the funding costs of major banks by 8 basis points more than the reductions in the cash rate".</strong></span></div>
<div><span> </span></div>
<div>
<span>Overall, then, the cost to banks of issuing new wholesale debt fell significantly at the beginning of 2015, and this lower level was sustained through most of the year. </span><br><span><br></span><span>This gradually flowed through to outstanding wholesale funding costs as the new cheaper debt replaced higher cost funding reaching maturity.</span>
</div>
<div><span> </span></div>
<div><span>Towards the end of 2015, the cost of issuing <strong><span style="text-decoration: underline;">new</span></strong> debt increased, which is angle that all the "bank funding costs are soaring" articles are coming from, although seen in context, funding costs remain a good deal lower than they have been over the years. </span></div>
<div><span> </span></div>
<div><span>Summarily, yields on new short term debt increased a bit to be higher than those on outstanding short term debt, but the cost of new long term debt was a little below the cost of corresponding outstanding debt.</span></div>
<p><a href="/images/2016/03/21/Funding.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/21/Funding.jpg" alt=""></p>
<div><span>Although equity tends to be a relatively small share of banks’ aggregate balance sheets (at about 6 to 7 per cent), equity is generally speaking more expensive than debt, thus relatively small shifts in equity funding can have proportionately large effects on total funding costs.</span></div>
<div><span> </span></div>
<div><span>The major banks raised a significant amount of equity in 2015, in anticipation of upcoming changes to prudential regulation, about $21 billion worth in total, according to the RBA.</span></div>
<div><span> </span></div>
<div><span><strong><span style="text-decoration: underline;">Lending rates</span></strong></span></div>
<div><span> </span></div>
<div><span>As for mortgage rates? Housing rates generally declined in line with the cash rate in the first half of last year, with the average outstanding interest rate on mortgages falling by about 50bps.</span></div>
<div><span> </span></div>
<div><span>As has been well covered in the financial media, in the second half of the year banks tweaked their lending rates such that the average outstanding housing interest rate for investor loans was only moderately lower over 2015, while rates for owner-occupiers declined by about 30bps. over the year. </span></div>
<div><span> </span></div>
<div><a href="/images/2016/03/21/F4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/03/21/F4.jpg" alt=""></span></div>
<div><span> </span></div>
<div><span> </span></div>
<div>
<span>The implied spread of major banks - that being the difference between average lending rates and debt funding costs - increased by around 20bps over 2015, this </span><span>change driven by a combination of the decline in average funding costs relative to the cash rate and an increase in the average lending rate. </span>
</div>
<div><span> </span></div>
<div>
<span>However, the Reserve Bank noted that lending rates and debt funding costs do tend to move in line with each other in the longer run.</span><br><span><span><br></span><span><strong><span style="text-decoration: underline;">The wrap</span></strong></span></span><br><span><span><br></span>Despite a moderate increase in debt funding costs recently and a range of equity raisings, funding costs are still lower than they were.</span><br><span><br></span><span>With global interest rates so low, futures markets still expect the cash rate in Australia to be cut again by November this year, although banks may elect to retain a portion of any 25bps cut delivered in order to shore up their balance sheets further. </span><br><span><br></span><span>Alternatively banks may looking at increasing mortgage rates a little via out of cycle hikes.</span>
</div>
<div><span> </span></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>
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