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;

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;

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;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

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;

"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;

"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;

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;

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;

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;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

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

<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.

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.

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.

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.

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.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“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.

“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.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

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.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

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.

Sherpa acquires new site for second Brisbane apartment tower

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.

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.

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.

<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" />

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.

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.

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.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

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.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

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.

"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.

<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" />

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.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

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.

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.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

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.

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.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

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.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

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.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

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.

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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.

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.

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.

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

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.

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.

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.

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.

<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" />

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;

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.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"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.

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.

A major focus of the design has been the public domain.

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.

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.

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.

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.

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.

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.

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>

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.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

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.

[smartcode_project:default project_id=152095 project_image_fid=373685]

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.

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.

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>

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> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

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.

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.

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.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

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.

"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.

[smartcode_project:default project_id=152022 project_image_fid=375531]

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.

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.

[smartcode_project:default project_id=152022 project_image_fid=375524]

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.

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.

[smartcode_project:default project_id=152022 project_image_fid=375530]

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.

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.

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.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

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.

[smartcode_project_cta:default project_id=152022]

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

Not all apartment amenities are immediately visible.

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.

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.

Online shopping has been one of the biggest drivers of that shift.

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.

For apartment residents, however, receiving those deliveries isn't always straightforward.

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.

Australia Post's Parcel Locker network is one response to that shift.

<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>

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.

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.

That growing presence reflects a broader change in how apartment buildings are being planned.

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.

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.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

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.

Parcel delivery is joining the apartment amenity checklist

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GUEST OBSERVER
The minutes of the March monetary policy meeting of the Board of the RBA provided no real surprises. When we assessed the Governor’s statement following the March meeting we pointed out that the key sentence “Members noted that continued low inflation would provide scope to ease monetary policy further, should that be appropriate to lend support to demand” had been changed from the February statement to include the word “would” instead of “may”. We interpreted that as a clear strengthening of the easing bias.
That decision may have been prompted by a concern that the December quarter GDP report that was set to be released the following day was going to show a significant slowdown in growth. As it turned out the report showed growth in 2015 to be 3%, comfortably above trend growth of 2.75%. In the minutes it is noted that it was reported to the Board that based on data available “growth appeared to have been slightly below average in the December quarter and over 2015 as a whole”. Clearly this assessment proved to be more cautious than turned out to be the final result. It is reasonable to argue that knowledge of the stronger GDP may have allowed the Board to retain its earlier more modest easing bias.
Of course we were also interested in the assessment of the surprise rise in the unemployment rate from 5.8% to 6.0% in January. The minutes while recognising that development point out that “leading indicators of employment had increased further and were consistent with employment growth in the months ahead”.
The minutes also clarified the relevance of the Capex survey. While the particularly weak Capex survey pointed out further but not surprising large falls in mining investment the picture around non-mining investment from the survey seemed to be overly pessimistic. The minutes point out that roughly half of non-mining investment is not covered by the Capex survey and that it had on occasions proved to be unreliable. Further boosting the view around business is the observation that surveys continue to point to conditions and capacity utilisation remaining above average levels.
The minutes have qualified the assessment that low wage growth points to some spare capacity in the labour market. They speculate that weak wages growth may be due to increasing globalisation. 
There is a long discussion on China, particularly around longer run economic performance and risks to growth. The discussion covers potential financial problems in China but concludes that China’s low household debt and low level of foreign currency debt gave it much more protection from a crisis than in other emerging economies.
At the time of the last meeting the AUD was around USD0.715, little changed from the February meeting. With the currency subsequently rising to USD0.75 there may have been some temptation to use this document to signal any discomfort. This has not happened and the term “responded to the evolving economic outlook” has been maintained.
Conclusion
The minutes provide some insight into expectations around GDP; reaction to the surprise rise in the unemployment rate in January; and the weak Capex report. The ‘spin’ on all of these developments indicates a Bank that is comfortably on hold. However clearly considerable attention is being paid by the Bank to developments in China and sudden adverse developments in that region would undoubtedly prompt consideration for policy change.
We will have to await new communication from the Bank to assess its degree of unrest around the recent sharp jump in the AUD.
Westpac continues to expect that the Bank will remain on hold for the remainder of the course of 2016.
Bill Evans is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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No surprises in RBA minutes; positive spin on key data points to rates on hold: Westpac's Bill Evans

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<img src="/images/2016/03/15/Holdencapital_banner.jpg" alt="" width="494" height="104">
SPONSORED POST
I am often asked to how I would advise developers who are in the formative stages of building their businesses and over time I have listened to the war stories and reflections of many experienced players in the market so I thought I would compile the following ‘Dear Younger Me ‘ letter drawing on their input and my own observations.
1. UNDERSTAND THE DEMAND AND SUPPLY DEMANDS: The key to having your project succeed where perhaps others do not, lies with having an appropriately planned and executed marketing strategy that is built around an understanding of what the market wants and being positioned to deliver it. It is no use building a project that the market doesn’t want, can’t afford or is spoilt for choice when considering. This means doing your homework, having the right marketing delivery strategy and engaging with your marketing team early in the design process to ensure you are in line with what the market wants in terms of product size, amenity and price.
2. DEVELOPMENT IS NOT CONSTRUCTION: You do not have to be a builder to be a successful property developer. What you do have to have is a good relationship with builders/contractors who have the appropriate skills and capacity to deliver projects for you and who will work with you early in the projects formative stages to provide input and advice regarding their practicality and cost to deliver. This is important to ensure that the vision does not drive the project beyond what the market can sustain. Remember also that your builder needs to make a dollar as well as you and often the cheapest price for a construction project is not the best way to go – if your builder fails during the course of a project then the consequences for you can be catastrophic.
3. DON'T BE SCARED OF DEBT: Almost every property developer has to borrow to make their projects become a reality – and probably more than they have ever borrowed before. For various reasons, this is an area that many developers spend the least amount of effort into either because it frightens them or is too far removed from the actual development process but the reality it is a critical driver in the overall business success. But just like any other part of the development process, harnessing the skills of the right professional can save you a lot of angst and actually improve the outcome. Utilising the expertise of your Finance Consultant to correctly structure and negotiate your borrowings is the most efficient and productive step in the process of turning your project into a reality. There will be times that an increase in borrowing costs is far outweighed by other benefits in terms of less restrictive conditions precedent, and you need to know when this is the case. Borrowed money should always cheaper than your own capital, most developers should have their capital working at 60-200%IRR per annum, if it isn’t then you should review your business model and talk to an expert.
4. ASSEMBLE A GOOD TEAM AROUND YOU AND KEEP THEM: You will soon recognise that your time is best spent on strategic management and forward planning. To do this you need to assemble a good team and utilise their expertise to complement your own skill set and fill any critical gaps. The key here is to secure a team that can grow with you and that is capable of managing their areas of responsibility while understanding how that fits with your overall objectives. So the key is to take your time and be prepared to make changes. Friends and family are rarely a good mix.
You will also need to remunerate them appropriately to ensure they are motivated and see themselves as part of a united team that benefits from the individual as well as collective contributions. The structure is not important, what is that they all see it as appropriate to what they are contributing. Building a team takes time but is the critical platform on which you will build a successful business. Importantly you do not need all the issues that come with having a big payroll.
Also remember that consultants provide a wide range of expertise in their respective fields to supplement your team’s experience. Pay them on a project by project basis but be sure to develop strong and lasting relationships with each of them to ensure loyalty for when things don’t quite as they were planned. Typically this would include a good town planner, architect, QS, finance consultant, accountant and lawyer.
Summary
The common theme here is utilising the expertise and motivation of other like-minded people either by employing them or engaging them as professional consultants to fill the gaps in your own expertise but also because at the end of the day, you cant do it all and expect to get the best outcome. So, put simply, the key lesson learnt from these seasoned developers is that following this advice will give you more time to focus on the areas that you create significant value in as well as giving each individual project the best chance of succeeding.
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arrange construction finance and invest in projects through their equity fund, Queen Street INVEST. To discuss your project finance requirement please call (07) 3171 4200 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au/" target="_blank">here</a>.
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Dear Younger Me -- Four things I would have done differently as a young developer: HoldenCAPITAL's Dan Holden

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<h1>Minutes of the Monetary Policy Meeting of the Reserve Bank Board</h1>
Sydney – 1 March 2016
<h2>Members Present</h2>
Glenn Stevens (Governor and Chair), Philip Lowe (Deputy Governor), John Edwards, Kathryn Fagg, John Fraser (Secretary to the Treasury), Allan Moss AO, Heather Ridout AO, Catherine Tanna
Members granted leave of absence to John Akehurst in terms of section 18A of the Reserve Bank Act 1959.
<h2>Others Present</h2>
Guy Debelle (Assistant Governor, Financial Markets), Christopher Kent (Assistant Governor, Economic), Alexandra Heath (Head, Economic Analysis Department), Ivan Roberts (Senior Economist, Economic Analysis Department)
Anthony Dickman (Secretary)
<h2>Domestic Economic Conditions</h2>
Members began their discussion of the domestic economy by noting that the December quarter national accounts would be released the day after the meeting. Based on the data available and in line with earlier expectations, growth appeared to have been slightly below average in the December quarter and over 2015 as a whole. There had been further indications of a rebalancing of activity towards the non-mining sectors of the economy. More recent data had suggested that the economy had continued to grow at a moderate pace in early 2016.
As expected, mining investment had fallen further in the December quarter as more large projects reached completion. The latest ABS capital expenditure (capex) survey of firms' investment intentions had pointed to further large falls in mining investment in 2015/16 and again in 2016/17, in line with the forecasts presented in the February Statement on Monetary Policy. Members noted that non-mining investment appeared to have been little changed over 2015. Although the capex survey had pointed to declines in 2015/16 and 2016/17, roughly half of non-mining investment was not covered by the capex survey and in the past there had been differences between signals provided by the capex survey and what was measured in the national accounts data. At the same time, members noted that survey measures of business conditions and capacity utilisation had remained at above-average levels and business credit growth had increased a little further over recent months.
Members observed that there had been only modest growth in resource export volumes in the December quarter. They noted that more production capacity – particularly for liquefied natural gas, but also iron ore – was expected to come on line over 2016. Chinese iron ore imports had increased over the past year, although by less than earlier years, and Australia's share of that had remained at a high level. The volume of coal exports had fallen, partly because Chinese demand for coal had eased. Meanwhile, iron ore prices had increased over the past month, while coal prices had fallen slightly. Notwithstanding the recent increases in iron ore prices, bulk commodity prices were still about 20 per cent below levels of a year earlier. Oil prices had been volatile over recent months, rising somewhat since the previous meeting but still lower than late last year, which largely reflected the ongoing strength of supply.
Members noted that household demand had continued to be supported by low interest rates and above-average employment growth. Consumption growth was expected to have been close to its average over 2015 and in early 2016. Survey measures of households' perceptions of their own finances had remained at above-average levels into early 2016. Information from the Bank's retail liaison suggested that there had been an improvement in trading conditions around the Christmas–New Year period.
While growth in dwelling investment had been strong over 2015, there were indications that it would gradually moderate over the course of this year. The level of building approvals had declined over 2015, but remained high. Conditions in the established housing market had eased since late 2015. Housing price growth in Sydney and Melbourne was lower than in September last year. Meanwhile, housing credit growth overall had remained around 7½ per cent, after having risen through to the middle of 2015. Members noted that growth in lending to investors in housing had slowed significantly over that period and, more recently, housing loan approvals overall had declined a little.
The unemployment rate rose to 6 per cent in January, from around 5¾ per cent in November and December, and employment had declined slightly. Nevertheless, conditions in the labour market had clearly improved since early 2015. Employment growth had been above average, the unemployment rate had declined by a little more than ¼ percentage point and the participation rate had been on an upward trend. Members noted that there was some uncertainty around the future trajectory of the participation rate. This was partly because the degree to which people had been encouraged to enter the labour force over the course of the past year had been unexpected, and partly because it was difficult to assess the net effect on the participation rate of population ageing (which tends to reduce participation rates). The fact that each generation has tended to have a higher participation rate than the one preceding it also contributed to uncertainty around the trajectory of the participation rate. Meanwhile, leading indicators of employment had increased recently, consistent with employment growth in the months ahead.
Data from the wage price index had confirmed that wage growth was low across all industries over 2015. Although wage growth had continued to slow in a number of mining-exposed industries, it appeared to have stabilised in some industries where employment growth had been relatively strong over the course of the past year. Members observed that ongoing low wage growth was consistent with there being some spare capacity in the labour market, though they also noted that this was not unique to Australia, which suggested that a common global factor, such as the increasingly globalised nature of the labour force, could have been playing a role.
<h2>International Economic Conditions</h2>
Growth in Australia's major trading partners had eased in the December quarter, although it had been little changed over the past year at slightly below its decade average. Labour market conditions had improved in a number of economies, which was consistent with ongoing consumption growth, particularly in the United States and the euro area. Aggregate growth had also been supported by low oil prices. Although measures of core inflation had edged higher over the second half of 2015 in Japan and the euro area, they had shown some signs of declining in the early part of 2016. There had been a more noticeable increase in core inflation in the United States over this period. However, inflation remained below most central banks' targets and monetary policies had remained very expansionary.
Growth in the US economy had been close to trend over 2015, despite slowing late in the year. Employment had continued to grow more rapidly than the working-age population, and the unemployment rate was around its long-run average level. While nominal wage growth had remained relatively modest, growth in unit labour costs was above its long-run average. Measures of core inflation had picked up, but remained below the inflation objective of the Federal Reserve Board. The euro area economy had continued to expand at an above-trend rate over 2015, driven by domestic demand, although industrial activity had remained weak. There had been a further gradual decline in the unemployment rate, but there was considerable spare capacity and wage growth had drifted lower. Inflation had remained low relative to the European Central Bank's target.
GDP had contracted in Japan in the December quarter, driven by a decline in consumption. Despite recent weakness in economic activity, labour market conditions had remained tight and nominal wage growth had been positive. Core inflation had picked up to close to 1 per cent by the end of 2015, but had eased a little in early 2016. Headline inflation had been low, reflecting the effect of lower oil prices. In the rest of east Asia, GDP growth had been a bit below average, particularly for the economies with larger exposures to the slowing in China through their direct trade links. Recent exchange rate depreciations, low oil prices and monetary and fiscal stimulus measures had been providing some support for activity in the east Asian region.
Recent Chinese data had pointed to continued weakness in the industrial and real estate sectors, although members noted that the variable timing of the Chinese New Year holidays made it difficult to interpret data in the early part of the calendar year. Overall, housing prices had increased a little over the past year, but prices had still declined in the smaller cities. Total sales had declined since mid 2015 and the stock of unsold housing remained substantial. In February, the authorities took further steps to support the demand for housing, particularly in markets where housing prices had been weakest. The downward trend in both exports and imports had continued in January, while the trade surplus remained at a high level.
Members spent part of the meeting discussing some issues relevant to China's longer-run economic performance and the risks to growth. They observed that demographic changes and strong productivity growth had been key drivers of economic growth in China for some time, but these forces were now reversing and were likely to weigh on future growth as a result. In particular, China's growth had been supported by an increase in the size of the working-age population and the migration of many agricultural workers to urban areas, where they had been more productive. The working-age population had started to fall but the urban workforce was still growing because of continued urbanisation. China's urbanisation rate was still relatively low by international standards, which suggested that this process had further to run, with the pace of reform to the urban registration system (hukou) likely to have some effect on how rapidly the growth of the urban workforce would moderate. Structural reform was also important for the future trajectory of productivity growth, which had slowed over the past decade.
China's economic development had been characterised by very strong investment growth, which had been funded to a significant extent by high saving rates in the household sector. An element of the policy response to the global financial crisis had been to increase the credit available to the non-financial corporate and government sectors, which had led to sizeable increases in the debt held by these sectors. Slowing aggregate growth and excess capacity in some industries had raised the risk that some firms would find it more difficult to make repayments on their debt, which could, at some point, be associated with more widespread financial problems. Notwithstanding this, members noted that household debt-to-income ratios and the share of debt denominated in foreign currency were both low. The low level of foreign currency debt, in particular, differentiated China from other emerging economies that had previously experienced financial crises. While the overhang of residential housing inventory and excess capacity in the industrial sector would affect demand for Australia's resource exports and their prices, the scope for Chinese household incomes to rise over time created long-run potential for Australia to increase exports of rural produce and services, including tourism, to China.
<h2>Financial Markets</h2>
Members commenced their discussion of financial markets with a review of movements in a range of markets following the Bank of Japan's unexpected lowering of the interest rate for some deposits held at the central bank in order to provide further stimulus. This decision led to significant movements in fixed income and foreign exchange markets in particular, and had also highlighted concerns over bank profits in an environment of low or negative interest rates. Members noted that implementation of the policy decision had been designed to minimise the adverse effect on the Japanese banking system; although the negative rate is effectively the marginal rate on excess funds and therefore had pushed other short-term rates lower, most central bank deposits continued to be remunerated with a positive rate.
Expectations of further increases in the US federal funds rate had been pushed out over the past month, with markets now pricing in only a 70 per cent chance of a further rate rise in 2016 and some market participants expecting a reduction in the federal funds rate this year. In contrast, expectations for additional monetary easing by the European Central Bank this year had increased over the past month, including at the next policy meeting later in the month.
Recent policy developments had contributed to further falls in sovereign bond yields. Members noted that the Japanese government bond yield curve was very flat, with the 10-year bond yield below zero. Almost two-thirds of Japanese government bonds and one-third of short-term bonds issued by euro area governments were currently trading at yields below zero. Australian government bond yields had moved broadly in line with US sovereign bonds.
The sharp declines in global share prices in early February, led by financial sector shares, had, more recently, been partly retraced by price rises. Australian equity prices declined by 2 per cent over February, with movements in prices closely linked to changes in commodity prices. Members noted the generally solid profit reports of Australian listed companies and discussed recent developments in relation to dividend policies.
Share prices of banks in the advanced economies, including Australia, had fallen significantly since early January. The declines had been largest in Europe and Japan. Globally, there had been concerns about the effect of the prevailing low or negative interest rates on interest margins and yields on banks' high-quality liquid asset holdings and, ultimately, on bank profits and business models. These concerns had been compounded in the euro area by specific issues in particular countries as well as uncertainty about the operation of the new European bank resolution regime.
In foreign exchange markets, volatility increased over the previous month alongside the changing current and prospective stance of monetary policy in the major economies. The US dollar had depreciated slightly on a trade-weighted basis, while the euro was little changed. Since the policy announcement by the Bank of Japan, the yen had appreciated by 5 per cent on a trade-weighted basis. The Chinese authorities had emphasised their intention to preserve stability in the trade-weighted value of the renminbi, which had moved in only a narrow range over the past year. The People's Bank of China had continued to sell foreign currency reserves in January in response to net private capital outflow. The Australian dollar was little changed on a trade-weighted basis and against the US dollar since the previous meeting.
Bond issuance by Australian banks had been solid in the first quarter to date, despite volatility in global financial markets in the period. Wholesale funding costs for Australian banks had continued to edge higher, but for long-term funding the cost of issuing new paper was still below the average cost of the existing stock on issue. The rise in short-term wholesale bank funding costs had been passed through to some business lending rates.
Pricing in domestic financial markets indicated that there was no expectation of a change in the cash rate at the present meeting.
<h2>Considerations for Monetary Policy</h2>
In considering the stance of monetary policy, members noted that the recent data on the international and domestic economies had been largely consistent with the outlook presented at the previous meeting. Growth in Australia's major trading partners had remained a little below average in year-ended terms and commodity prices were still significantly lower than they had been a year earlier. Meanwhile, global financial markets had been volatile in the aftermath of the Bank of Japan's decision to implement negative interest rates and generally there appeared to be more uncertainty about the direction and potency of monetary policy in the major jurisdictions. However, given the usual lags in the data, it was still too early to assess whether the bout of financial market volatility since the turn of the year foreshadowed or would lead to a weakening in global economic conditions. Globally, monetary policy remained very accommodative.
The available data suggested that the domestic economy had continued to grow at a slightly below-trend pace. There had also been further signs of a rebalancing of activity towards non-mining sectors of the economy, aided by the low level of interest rates and the depreciation of the exchange rate over the past couple of years, which had responded to the evolving economic outlook. There was a small decline in employment in January and a modest rise in the unemployment rate, following a run of much better-than-expected outcomes in the December quarter. Leading indicators of employment had increased further and were consistent with employment growth in the months ahead. Wage growth had remained at quite low levels.
Conditions in the established housing market had eased somewhat since September 2015, in part reflecting the effect of supervisory measures implemented in that year. In addition, after rising for some time, the growth in aggregate housing credit had stabilised over the past six months or so, with a significant easing in growth in lending to investors.
Members judged that there were reasonable prospects for continued growth in the economy and that it was appropriate to leave the cash rate unchanged at an accommodative setting. Over the period ahead, new information should allow the Board to assess whether the improvement in labour market conditions was continuing and whether the recent financial turbulence presaged weaker global and domestic demand. Members noted that continued low inflation would provide scope to ease monetary policy further, should that be appropriate to lend support to demand.
<h2>The Decision</h2>
The Board decided to leave the cash rate unchanged at 2.0 percent.
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Dwelling price growth easing: Minutes of March 2016 Monetary Policy Meeting of the Reserve Bank Board

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GUEST OBSERVER
A clearance rate of 70 percent was recorded this weekend compared to 74 percent last weekend and 77 percent this weekend last year. 
There were 335 auctions reported to the REIV, with 233 selling and 102 being passed in, 44 of those on a vendor bid. This weekend has the highest number of auctions scheduled for Labour Day weekend since 2008 (more than 400 auctions). 
Auction Summary - Week ending Sunday 13 Mar 2016
335 Auctions Held 70% Clearance Rate 1089 auctions this weekend last year 77 percent clearance rate this weekend last year The Detail 185 sold at auction 48 sold before auction 102 passed in 6 withdrawn 0 sold after auction 44 passed in on vendor bid 9 postponed
Sales Highlights
<div class="detail-block">
<div class="house-sale-detail-setion">
<div class="row">
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="content-body">
<div class="row">
<div class="col-md-12 col-sm-12 col-xs-12">
<h4 class=" header-title text-center">Top House Sales</h4>
<table class="table table-striped">
<thead><tr>
<th>Location</th>
<th>Price</th>
</tr></thead>
<tbody>
<tr>
<td>100-102 David St PRESTON</td>
<td>$3,350,000</td>
</tr>
<tr>
<td>18 Hood St BALWYN NORTH</td>
<td>$1,990,000</td>
</tr>
<tr>
<td>43 Provost St NORTH MELBOURNE</td>
<td>$1,950,000</td>
</tr>
<tr>
<td>2 Harriett Cr MONT ALBERT</td>
<td>$1,760,000</td>
</tr>
<tr>
<td>175 Richardson St MIDDLE PARK</td>
<td>$1,755,000</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="content-body">
<div class="row">
<div class="col-md-12 col-sm-12 col-xs-12">
<h4 class=" header-title text-center">Top Apartment Sales</h4>
<table class="table table-striped">
<thead><tr>
<th>Location</th>
<th>Price</th>
</tr></thead>
<tbody>
<tr>
<td>14 Dwyer St BLACKBURN</td>
<td>$1,135,000</td>
</tr>
<tr>
<td>9/52-54 Young St FITZROY</td>
<td>$950,000</td>
</tr>
<tr>
<td>11/12-14 York St GLEN WAVERLEY</td>
<td>$898,000</td>
</tr>
<tr>
<td>1502/1 William St MELBOURNE</td>
<td>$860,000</td>
</tr>
<tr>
<td>506/185 Rose St FITZROY</td>
<td>$850,000</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div class="row">
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="content-body">
<div class="row">
<div class="col-md-12 col-sm-12 col-xs-12">
<h4 class=" header-title text-center">Bargain House Sales</h4>
<table class="table table-striped">
<thead><tr>
<th>Location</th>
<th>Price</th>
</tr></thead>
<tbody>
<tr>
<td>65 Walsgott St NORTH GEELONG</td>
<td>$300,000</td>
</tr>
<tr>
<td>50 Gateshead St CRAIGIEBURN</td>
<td>$301,000</td>
</tr>
<tr>
<td>23 Sages Rd BAXTER</td>
<td>$305,000</td>
</tr>
<tr>
<td>16 Plowman Ct EPPING</td>
<td>$352,500</td>
</tr>
<tr>
<td>32 Mimosa Av MILL PARK</td>
<td>$360,000</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="content-body">
<div class="row">
<div class="col-md-12 col-sm-12 col-xs-12">
<h4 class=" header-title text-center">Bargain Apartment Sales</h4>
<table class="table table-striped">
<thead><tr>
<th>Location</th>
<th>Price</th>
</tr></thead>
<tbody>
<tr>
<td>6/2-4 Gordon St TULLAMARINE</td>
<td>$280,000</td>
</tr>
<tr>
<td>17/275 Burnley St RICHMOND</td>
<td>$301,000</td>
</tr>
<tr>
<td>9/10 Hendry St SUNSHINE WEST</td>
<td>$310,000</td>
</tr>
<tr>
<td>12/46 Eucalyptus Dr MAIDSTONE</td>
<td>$335,000</td>
</tr>
<tr>
<td>1A Bent St WESTMEADOWS</td>
<td>$375,000</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

enzoraimond-7fvRFHPR52

Preston development site sells: REIV

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GUEST OBSERVER
Petrol: Last week the key Singapore gasoline price recorded the biggest percentage increase in a year, up by US$6.60 or 13.6 percent to US$55.20 a barrel. In Australian dollar terms the Singapore gasoline price rose by $7.73 a barrel or 11.7 percent to $73.72 a barrel.
MotorMouth records the following retail prices for capital cities today: Sydney 94.9c; Melbourne 114.40c; Brisbane 120.6c; Adelaide 97.7c; Perth 103.7c; Canberra 112.7c; Darwin 116.2c; Hobart 118.0c.
Credit cards: The average credit card balance fell by $77.10 (2.4 percent) to $3,114.30 in January. In smoothed terms (12 month average) the average balance was down by 1.5 percent – the biggest fall in 21 months.
Credit limits: Usage of credit card limits eased from 35.2 percent to 34.3 percent in January - a 14-year low.
ATM use: Withdrawals at automated teller machines in January were down by 7.2 percent on a year ago in smoothed terms, the biggest decline on record.
The petrol figures have implications for retailers, especially petrol marketing groups. The credit card figures have implications for finance providers, retailers, and companies dependent on consumer and business spending.
<a href="/images/2016/03/15/Screen%20Shot%202016-03-15%20at%2010.18.00%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/15/Screen%20Shot%202016-03-15%20at%2010.18.00%20AM.png" alt="">
What does it all mean?
Global oil prices have surged in the past week. In fact the almost 14 percent lift in the Singapore unleaded price was the strongest gain in over a year. Even the heavy lifting Australian dollar has not managed to buffer the price gains. In Australian dollar terms prices the Singapore unleaded price lifted by almost 12 percent. Importantly while petrol prices will lift from recent seven year lows they remains relatively depressed, providing households and businesses with additional spending power.
In addition the discounting cycle continues to pay dividends for motorists – provided you are filling up at the cheap end of the cycle. More capital cities are experiencing petrol below $1 a litre. But the key is to keep an eye on the discounting cycle. In Sydney and Adelaide, prices are holding between 94-98c; Perth 104c; while in Melbourne and Brisbane prices are around $1.15-$1.20 a litre. Clearly filling up at the cheaper days of the cycle can yield motorists substantial savings.
Consumers continue to be savvy about plastic card use. The average credit balance has gone backwards over the past year with the smoothed measure at a near two-year low. And given that the inflation rate is above 2 per cent, it would suggest that credit card debt is falling even further in real terms. Cardholders are frequently paying off credit card debt by the due date and using cards to maximise loyalty points. In addition usage of credit card limits is holding at a 14-year low.
Interestingly, average ATM withdrawals fell by 7.2 percent in the year to January – the biggest fall on record. And the average value of a debit card transaction was just $53.40 in smoothed terms – a record 12-year low. No doubt the changes technology with PayPass and Paywave are resulting in fewer Aussies carrying physical cash and also using their cards for smaller purchases.
The Reserve Bank will continue to remain on the interest rate sidelines – comfortable about the way the Australian economy is evolving. Importantly, activity levels are lifting, driven by stronger home construction. Policymakers are likely to focus on the labour market and Australian dollar in coming months.
What do the figures show?
Petrol prices
Today the national average wholesale (terminal gate) unleaded petrol price  stands at 101.9 cents per litre, up 3.1 cents per litre on a week ago. The terminal gate diesel price  stands at 96.5 cents a litre, up 2.2 cents over the week. (Data on pump or retail prices is released on Tuesday).
Last week the key Singapore gasoline price  rose by US$6.60 or 13.6 per cent to US$55.20 a barrel. In Australian dollar terms the Singapore gasoline price rose by $7.73 a barrel or 11.7 per cent to $73.72 a barrel or 46.36 cents a litre.
MotorMouth records the following retail prices for capital cities today: Sydney 94.9c; Melbourne 114.40c; Brisbane 120.6c; Adelaide 97.7c; Perth 103.7c; Canberra 112.7c; Darwin 116.2c; Hobart 118.0c.
Credit card lending:
The average credit card balance  fell by $77.10 (2.4 percent) to $3,114.30 in January. Compared with a year ago, the average credit card balance was down 1.7 percent. In smoothed terms (12 month average) the average balance was down by 1.5 percent – the biggest fall in 21 months.
Of credit cards attracting interest charges , the average outstanding balance rose by $11.10 in January to $1,981.50. The average balance accruing interest is down by 4.6 per cent on a year ago. In smoothed terms (12 month average) the average balance was down by 5.7 percent on a year ago – the biggest decline in 16 months.
The average credit card limit  rose by $11.80 to $9,075.90 in January. The average credit card limit in January was down 0.1 percent on a year ago. Usage of credit card limits eased from 35.2 percent to 34.3 percent in
January - a 14-year low.
On average, there were 11.3 transactions made per each credit card account  in January, up from 11.1 a year ago. The average value of purchases was $119.4 in January. The rolling annual average of purchases eased from $129.4 to $128.9 in January - an 11-year low.
The number of cash advances  recorded a 2.4 per cent annual fall in smoothed (12-month average) terms in December.
<a href="/images/2016/03/15/Screen%20Shot%202016-03-15%20at%2010.16.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/15/Screen%20Shot%202016-03-15%20at%2010.16.46%20AM.png" alt="">
Debit card lending &amp; ATMs
The number of debit card accounts rose by 3.2 percent in the year to January to 41.66 million.
The number of purchases and cash-out transactions  made with debit cards in January was up by 13.7 percent on a year ago. The annual growth rate has averaged 12.1 per cent over the past two years.
On average there were 8.8 transactions made per debit card  in January, up from 8.1 a year ago. The average value of a transaction was $52.02 with the rolling annual average at $53.40 – a record (12-year) low.
Transactions at automated teller machines  in January were down by 8.4 percent on a year ago. In smoothed terms, ATM transactions were 7.2 percent down on a year ago, the biggest decline on record.
What is the importance of the economic data?
The Reserve Bank releases data on credit and debit card  transactions each month. The credit card figures are useful in highlighting consumer borrowing and spending trends.
Weekly figures on petrol prices  are compiled by ORIMA Research on behalf of the Australian Institute of Petroleum (AIP). National average retail prices are calculated as the weighted average of each State/Territory's metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol vehicles in each of these regions. AIP data for retail petrol prices is based on available market data supplied by MotorMouth.
What are the implications for interest rates and investors?
The Reserve Bank will be comforted by the more stable conditions in financial markets and the broader economy. The Federal Reserve meeting will garner the most interest this week, particularly in terms of the impact on the Australian dollar. CommSec expects no change to interest rate settings for the foreseeable future.
<a href="/images/2016/03/15/Screen%20Shot%202016-03-15%20at%2010.15.02%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/15/Screen%20Shot%202016-03-15%20at%2010.15.02%20AM.png" alt="">
 Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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jchancellor-FAypfDUnLy

Usage of credit card limits at 14-year low: Savanth Sebastian

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GUEST OBSERVER
Proposals by the NSW Government to reopen Parramatta Gaol will stop the exciting urban renewal proposals for North Parramatta. 
The NSW Government seems to now have two contradictory approaches for the renewal of North Parramatta.
On one hand UrbanGrowth NSW proposes new residential towers around the old gaol and the proposed light rail will connect the precinct while on the other hand the government proposes to reopen the gaol which does not send a welcoming signal to incoming residents.
The NSW Government has given a positive focus to Parramatta as the second CBD for Sydney which is reflected in strategic planning and the announcement of the proposed light rail. This has led to strong market interest in developing residential and commercial buildings in the city centre and in the North Parramatta campus.
Their proposal to relocate the Power House museum to Parramatta adds to the build-up in confidence that the city is becoming a very desirable place to live and work in.
The confidence that is growing about Parramatta’s maturity as a cosmopolitan centre could be set back by the reopening of a gaol on the city’s doorstep. The reopening would certainly be a setback for the government’s recently announced plans to provide much needed housing on the land adjacent to the old gaol. The proposed urban renewal will reinforce the connection to jobs in the Westmead Medical Precinct and have all of this connected by light rail.
There must be other options for a new gaol that does not disrupt the exciting urban renewal of Parramatta and its surroundings.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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mick.cee-iDmgDDAmu8

Reopening Parramatta Gaol will stop the renewal of North Parramatta: Chris Johnson

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Melbourne will soon see work begin on another off-the-plan apartment building, with a slight twist as the city's legal history blends with inner-city living.
Located at <a href="https://www.qcresidences.com.au" target="_blank">472 Bourke Street</a>, QC Residences is a heritage-listed building and the site of the first purpose-built chambers for the Queen’s Council Barristers of Melbourne.
Developed by ZYTT, QC Residences will offer three distinct living experiences -- some featuring balconies, others offering New York style, three-metre high ceilings and still others retaining an individual element of the building’s history with original heritage windows and entrance doors. All feature floorboards throughout the living spaces.
The former Barrister’s Chambers will be transformed into the New York-style apartments with over three-metre high ceilings and original heritage windows.
In configurations of one, two, or three bedrooms and one or two bathrooms, these apartments range in size from 43 to 111 square metres. Priced start at $395,000 for the one-bedroom apartments.
Construction on QC Residences is set for the third quarter of 2016 with completion due in 18 months.
“Melbourne has always been likened to the streets of Paris, San Francisco, London and New York, where everything is within walking distance and with the arrival of the QC Residences, Melbourne will be a mecca for chic inner city living,” said Joseph Catanese, director of Savills Residential Projects, which is marketing the project.
QC Residences is located amongst some of Melbourne’s most historic buildings, close to trams, near cafés, restaurants, retail including Queen Vic Market and sporting venues. 
Also close by are Melbourne University and the Royal Melbourne Institute of Technology.
An on-site display suite is open between 10am and 1pm, Saturdays and Sundays and at other times by private appointment.
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jonathanchancellor-7SQnKwU6yx

Legal history and inner-city living blend in Melbourne's QC Residences

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Ballarat, Victoria’s largest inland city, figures in various positions from rising market to starting to decline in the HTW property clocks for February and March, and like the rest of the Australian economy, the residential market there will not be without its challenges in 2016.
Valuation firm Herron Todd White’s property clock is a simple broad brush means to suggest where property markets are as at February 2016 and what direction prices are moving in.
<a href="https://www.propertyobserver.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.42.52%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.42.52%20AM.png" alt="">
Macro economic factors such as the success of Australia’s transition from a resource driven to a service-driven economy, the mood of the various regulatory bodies and the ability of the elected elite to remain united behind one leader will play a major hand in its fortune, says the report.
Locally, the direction and pace with which the market door will swing will depend on the continued state governmental inclination to decentralise Victoria, in addition to the continued popularity and population growth of the area and the local economy’s success. 
<a href="https://www.propertyobserver.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.43.05%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/03/15/Screen%20Shot%202016-03-15%20at%209.43.05%20AM.png" alt="">
The good news for the area is that none of these drivers appear at present poised to pull the plug on the place. 
The bad news is, nor do they elicit an inclination to provide us with a path to the promised land, says HTW.
“And so the great unwashed are left to wake up, frock up and front up. The fundamentals of the residential market are sound if not strong, yet only the most bullish would foretell a 2016 Ballarat boom. So how will it play out? 
“The year will play out as tug of war between positive local sentiment and what will be on balance, at best, a macro economic climate,” says HTW. 
As usual, the property with the greatest chance to grow will be that with limited supply close to the CBD such as Ballarat Central, Lake Wendouree, Soldiers Hill, Black Hill and Golden Point. Areas with significant challenges will be those with oversupply issues such as the new estates in Delacombe and Lucas.
The strong history of Ballarat provides a sought after niche with period housing, particularly Victorian dwellings circa 1900. Areas likely to prosper from this niche market are Golden Point, Black Hill and Ballarat East. Period homes in these areas provide a stable investment outlook with driving factors that include affordability and proximity to the CBD, transport and sporting facilities as well as limited supply compared to the new estates on the city fringes with modern housing facing no limit in supply. These suburbs provide an inexpensive option for good quality period homes, close to the city centre and ripe for gentrification. Well-renovated period homes fetch a premium within the Ballarat residential market.
There is strong evidence of gentrification in Soldiers Hill with property quality and prices continually improving. With good quality renovations and the location of these suburbs, rising property values are likely in the future.
On the outer edges of Ballarat, Buninyong presents an opportunity with good local facilities and close proximity to Ballarat. Buninyong provides heritage properties with a rural township atmosphere and is becoming a sought after location because of these factors. 
At present, Ballarat has seen little development of reclaimed spaces, such as factory conversions, due to a limited demand for apartment living in regional areas. It is unlikely the apartment market in conversions of this type would have high demand in the foreseeable future, however, smaller scale buildings such as churches provide more of a lower density lifestyle choice for Ballarat.
The median price for houses in Ballarat at the end of 2015 was $308,750, according to CoreLogic RP Data. There was not data for units in the city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/03/15/ballarat2.jpg" alt=""> 
As an example of properties sold around the median, a four-bedroom house at <a href="https://realestateview.com.au/real-estate/8-leroy-street-ballarat-vic/property-details-sold-residential-8743834" target="_blank">8 Leroy Street</a> (above) was sold for $335,000 in Ballarat, as per realestateview.com.au. 
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prateek24-ezbwHMbNAk

Ballarat's tug of war between local positive sentiment and macro-climate: HTW

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GUEST OBSERVER
Bond yields are an important tool for making inferences about monetary policy. A yield curve is made by plotting the interest rates of bonds against their maturity dates. A normal yield curve occurs when long-term rates are higher than short- term rates. 
This is important for an economy’s liquidity, as banks can make a profit by borrowing at the (lower) short-term rates and lending at (higher) long-term rates.
Figure 1 shows the current yield curve on Australian Treasury bonds with maturities between 90 days and 10 years. Parts of the yield curve are inverted, meaning short-term rates (90 days) are higher than some long-term rates (2, 3 and 5 years). This creates a disincentive for banks to lend and if the entire curve is inverted, it can lead to a “credit crunch”. This happened in the US during the global financial crisis, when money suddenly dried up because banks could no longer profit from lending out money.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.25.52%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.25.52%20PM.png" alt="">
To avoid a credit crunch, either long-term rates need to rise, or short-term rates need to fall. The first option is tied to investor expectations, as the yield on 10 year bonds is usually an indicator of peoples’ outlook for the future of the economy. This is hard to change. The relatively easier option is lowering the short-term cash rate, otherwise known as Quantitative Easing.
Figure 2 compares movements in the yield curve (Figure 1) and the RBA’s cash rate target. The blue line shows the difference between 10-year Treasury bonds and 90-day Treasury notes for any given month. If the line is above zero, the yield curve slopes upward, while if it is below zero, the yield curve is fully inverted. The red line shows movements in the cash rate: if it is on zero, the cash rate stayed the same that month, while if it goes up or down, there was a change in the cash rate. Notice that for the whole timeline (Jan 2000 – Jan 2016) interest rate cuts always followed an inversion of the yield curve.
<a href="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.34.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/10/Screen%20Shot%202016-03-10%20at%204.34.08%20PM.png" alt="">
When the bond yield curve inverts, intervention is often necessary to keep the economy stable and allow banks to keep lending out money. However, cutting interest rates is a blunt tool as it has ripple effects on the economy including increased demand for housing loans, a devaluation in the Aussie dollar, which in turn changes trade balances and so on. With an already highly inflated housing market and worries about a bubble, the RBA is often reluctant to cut the cash rate if it is not absolutely required.
Will interest rates change in then ear future? With a positive yield curve it may seem unlikely there will be another cut. However, the difference between yields on 10-year bonds and short-term debt is at only 0.4 percent and has been falling since the last interest rate cuts in 2015.
Notice that when the bond yield curve is falling, the trend continues until interest rates are cut. It is often dangerous to use historical patterns to predict the future, and other economic factors always need to be considered.
For more information, <a href="https://secretagent.com.au" target="_blank">click here</a>.
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The yield curve and the RBA cash rate: Secret Agent Bulletin

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The One Agency Real Estate group, which helps agents set up their own agency for a fee without the traditional franchise model, is targeting 160 offices by end-June, placing it within the top 10 networks in Australia.
It has more than 120 offices across Australia and New Zealand since opening its doors in 2008, with another 20+ businesses scheduled to open their doors before the end of March.
Founder &amp; CEO Paul Davies launched the business model after more than 30 years as a real estate business owner, across both franchise and independent agencies.
“In the real estate industry it’s almost impossible, as an independent agency, to compete with the big franchises in your local marketplace,” said Davies. “But buying into an established franchise is both constraining and costly, so I set out to create a model that helped business owners to keep as much of their profit in their own back pocket and one that allows them to choose how they operate and grow.”
Members of the group have the flexibility to promote their brand with less restrictions than a traditional franchise. 
“The modern world of real estate is forever evolving and One Agency is at the forefront of that evolution which is why I chose to join the group,” says Grant Baker, from One Agency Noosa in QLD, member since 2013. “The business model is perfectly geared towards the self-motivated agent wanting to achieve personal success and retain all the profits of their labour.”
“The whole process, including the initial discussions, the changeover and the ongoing support, reinforces our thoughts that One Agency is the place to be,” says Stephen Johnston, ex-major franchisee, now an owner of One Agency Dunedin in NZ.
“I had a 23 year association with LJ Hooker brand and in April 2014 we made the leap to join One Agency after careful consideration and research into the One Agency Brand. We have saved a lot of money in franchise fees and have the ability to do business in a more flexible manner, no fees on the rent-roll is a great bonus,” says Andrew Johns, the owner of One Agency South. “The transition has been great and the support from the team at One Agency operations team has been efficient, friendly and impressive.”
“When we were setting up in business, we were approached by some big name franchises and the set up costs were horrific,” says Michael Lister from One Agency The Forest in the Sydney suburb of Frenchs Forest, operating since 2010. “We figured ‘why are we going to work so hard for somebody else’s benefit?’ and so we decided to go with the One Agency model which suited us much better and allowed us to steer our own ship.”
According to a recent REB Employer of Choice Report, 65.4 per cent of respondents identified culture as their main motivation for joining their current network or company.
“We attract very motivated agents, some are new to business ownership and others who are already experienced and bring their established franchise agency to us, often because the costs of a traditional franchise suck up their profits. Our members are also able to react far more autonomously and make changes to suit their business in a far more nimble way, without having to jump through the restrictive hoops that a traditional franchise demands.”
Davies says One Agency is growing organically, and not through acquisitions. 
“We don’t use our cheque book to buy members, like some franchises do, and have no financial interest or partnerships with any of our members businesses. They pay us a one off membership fee and then a low monthly fee, regardless of their commission and in return we offer great branding, marketing tools, systems and a supportive culture.”
Despite such rapid growth, the group retains a boutique feel, yet offers the strength of an international brand, he says. 
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