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


Joel Robinson

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

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


Sherpa acquires new site for second Brisbane apartment tower

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


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

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


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

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


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

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


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

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

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

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


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

Staff Writer

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

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


alisonwarters@gmail.com

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

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


Ellen Walker

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

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


Parcel delivery is joining the apartment amenity checklist

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<p>Sydney had a preliminary<strong> </strong><span>clearance rate of 68.6 percent for the week ending 6 March, according to CoreLogic RP Data.</span></p>
<p><span>The City and Inner South regions held the strongest auctions with a preliminary clearance rate of 81.3 percent, Ryde 80.7 percent and the Northern Beaches 78 percent.</span></p>
<p><a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.48.00%20PM.png" target="_blank">Click to enlarge</a></p>
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po-LsXgBTHBmX

Sydney City, Inner South hit clearance rates of 81.3 percent: CoreLogic RP Data

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<p>The biggest sale of the week was a massive seven bedroom, seven bathroom <a href="https://www.realestate.com.au/property-house-nsw-cremorne-119896725" target="_blank">waterfront in Cremorne</a> which fetched a suburb record $16.5 million.</p>
<p>Sold through Simeon Manners Property Mosman, the home belonged to investment banker Campbell Lobb and wife Susie.</p>
<p>The 1113 sqm property last traded for $5.85 million in 2001 when Lobb bought with Napier Property Group's Peter McCormack and Meridan International Capital's Carl Peterson.</p>
<p>He bought the pair out in 2007 to become the sole owner of the home.</p>
<p>Spread over three levels, the home features a gym, sauna, steam room, temperature controlled wine cellar and customer fitted Len Wallis home theatre.</p>
<p>Of course a $16 million waterfront property wouldn't be complete without a gas heated infinity pool with spa and level lawns with adjoining jetty and pontoon.</p>
<p> </p>
<p>Top ten</p>
<p>1. 4 Shellbank Parade, Cremorne, NSW: Seven bed, seven bathroom, three bar house: Simeon Manners Property Mosman - $16.5 million</p>
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<p>2. 68 Avoca Street, South Yarra, VIC: Four bed, three bath, two car house: HockingStuart South Yarra - $7.15 million</p>
<p>3. 32 Newtown Road, Strathfield, NSW: Five bed, four bathroom, eight car house: Devine Real Estate Strathfield - $5.02 million</p>
<p>4. 3 Kulgoa Road, Bellevue Hill, NSW: Five bed, three bathroom, two car house: Biller Property Double Bay - $4.75 million</p>
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<p>5. 15 Waverton Avenue, Waverton, NSW: Four bed, three bathroom, two car house: BradfieldCleary Double Bay - $4.75 million </p>
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<p><span>6. 17 Gurney Crescent, Seaforth, NSW: Five</span><span> bed, four bathroom, three car house: </span>Clarke &amp; Humel Property Manly - $4.6 million</p>
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<p>7. 9 Olola Avenue, Vaucluse, NSW: Four bed, three bathroom, three car houseL: BradfieldCleary Double Bay - $4.53 million</p>
<p>8. 37 Roseville Avenue, Roseville, NSW: Five bed, three bathroom, three car house: McGrath - $4.12 million</p>
<p>9. 3/232 Campbell Parade, Bondi Beach, NSW: Three bed, two bathroom, two car unit: Laing + Simmons Double Bay - $4.1 million</p>
<p>10. 3 Scotney Place, Collaroy Plateau, NSW: Five bed, three bathroom, three car house: McGrath - $3.97 million</p>
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jrobinson-rf4aSBido9

Cremorne record sale by investment banker atop week's most expensive sales

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<p><span style="line-height: 1.3em;">First time buyers are reacting to the Australian house price boom by increasingly turning to investment property, apprehensive of missing out as a majority expect prices to rise, says a recent report by consulting firm Digital Finance Analytics.</span></p>
<p>According to the latest Property Imperative, a bi-annual report by DFA on the residential sector, the survey identified about 321,000 households as first time buyers with the majority seeking to purchase, or have recently buying an owner-occupied property (72%), while the rest preferring an investment property. </p>
<p>Only 9% of these households expect to transact within the next 12 months, despite 53% believing house prices are set to rise in the same term.</p>
<p><a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.04.38%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.04.38%20AM.png" alt=""></p>
<p>The Australian residential property market of 9.53 million dwellings is currently valued at over $5.86 trillion and includes houses, semi-detached dwellings, townhouses, terrace houses, flats, units and apartments with the value doubling in the past 10 years, says the report.</p>
<p><span>"It is one of the most significant elements driving the economy, and as a result it is influenced by state and federal policy makers, the Reserve Bank (RBA), banking competition and regulation and other factors. Indeed, the RBA is 'banking' on property as a critical element in the current economic transition," says Martin North, founder of DFA.</span></p>
<p><span>"Residential property remains in the cross-hairs of many players who wish to influence the economic, fiscal and social outcomes of Australia. In policy terms, debates around negative gearing and capital gains tax breaks for investment properties have hotted up."</span></p>
<p>Data from the CoreLogic RP Data Home Value Index shows dwelling values across Australia’s combined capital cities rose 0.5% in February, pushing home values 1.4% higher over the past three months.</p>
<p>Coming back to the survey, the biggest barrier for first timers to purchase include high house prices (52%), fear of unemployment (7%), finding the right property (24%) and rising costs of living (6%). In terms of financing, 60% of households will need to borrow more than they can currently obtain to transact, whilst 62% of households will consider using a mortgage broker to assist with the finance arrangements. </p>
<p>The barriers do vary by state. In NSW, first time buyers were finding it more difficult to find a suitable place to buy (31%), whereas costs of living were less significant here. In WA, fear of unemployment (24%) and high prices (52%) were the most significant barriers. </p>
<p><a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.06.40%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.06.40%20AM.png" alt=""></p>
<p>First time buyers are split between looking for a house or a unit (in Sydney more are looking for a unit). A greater proportion (21.5%) this time were simply not sure what to buy, or where to buy, a rise from 4% in 2013, the survey showed.</p>
<p>A greater proportion of first time buyers in Sydney are likely to buy, or have bought a unit, rather than a house. In the other states, the preference for a house is stronger, though in Melbourne and Brisbane, it continues to drop. In Perth, house preferences are stronger. </p>
<p>While comparing the elements influencing a buying decision, the report found a stronger focus on price in 2015. Schools are important, then access to transport, though almost all elements were traded away because of high prices. </p>
<p>Whilst the ABS tweaked their estimates of first-time buyers taking a mortgage to adjust for the decline in first owner grants, they still give an incomplete picture. </p>
<p>The traditional wisdom is that first time buyers are sitting out of the property markets, because prices are high, loans harder to get, and confidence is falling. However, one of the most significant developments surrounding first time buyers is that many more are now going direct to the investment sector. </p>
<p>The original data from the ABS, shows a small rise in the month to 15.1% in December 2015 from 14.9% in November 2015. The DFA data for investor FTB also rose. </p>
<p><a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.08.12%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.08.12%20AM.png" alt=""></p>
<p>Also included in the DFA survey are more than 1.35 million households aspiring to purchase property, with 83% looking for owner-occupied and 17% investment. At the moment 21% are actively saving, hoping to buy sometime in the future.</p>
<p>The number of first time buyers are still sitting at around 13,000 a month in total, still well below the peaks in 2009. Our surveys indicate strong FTB investor appetite. The changed underwriting requirements are, however, having an impact. </p>
<p>There are a number of drivers to this trend. </p>
<p>First, most first time buyers were unable to afford to purchase a property to occupy, in an area that made sense to them and were being priced out of the market. </p>
<p>Next, many were anxious they were missing out on recent property gains, so decided to buy a less expensive property (often a unit) as an investment, thanks to negative gearing, they could afford it. </p>
<p>These buyers are hoping the growth in capital could later be converted into a deposit for their own home – i.e. the investment property is an interim hedge into property. Some are also teaming up with friends to jointly purchase an investment, so spreading the costs. In fact, about one third who purchased were assisted by the bank of mum and dad, and would consider an investment property by accessing their superannuation for property investment purposes. </p>
<p>Given the heady state of property prices, the growth in investment property by prospective first time buyers is on one hand logical, on the other concerning. The report warns against increasing first-time buyer incentives. </p>
<p><span>A deeper look at the trend shows</span> the prospect of potential capital gains being the highest rated driver at 27%, whilst the desire for somewhere to live is just 27%. The prospect of tax savings is up to 12%, whilst the advantage of a First Home Owner Grant (FHOG) is falling away as these grants become less accessible (1%). Ten percent of buyers now expect to pay less than renting, whilst the prospect of greater security remains about the same. </p>
<p>In conclusion, the report says first time buyers are being infected by the notion that property is about wealth building, rather than somewhere to live. The idea may be tested if interest rates rise later, or property prices fall from their current levels, it warns. </p>
<p>The overriding result from the survey is the first time buyers are very fearful of missing out, and though recent changes to underwriting standards may cramp their style, but DFA still expects to see a continued rise in the number of first time investor buyers. <span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;">For the report, <a href="https://www.digitalfinanceanalytics.com/blog/latest-dfa-household-survey/" target="_blank">click here</a>.</span></p>
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prateek24-ezbwHMbNAk

First timers fearful of missing out, turning to investment property: DFA survey

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<p>Consumer Affairs Victoria is increasing efforts to educate international students about their rights as renters, to help combat the problems new arrivals face as they set up their lives in Australia.</p>
<p>Students will receive information on arrival, with rental advice included, in a free welcome pack and international student guide at Melbourne Airport’s Welcome Desk. </p>
<p>The information covers types of accommodation, general tenancy issues and rooming house standards. To support students in the early stages of their tenancy, further rental advice is available through their higher education providers’ online and social media channels, and educational presentations by Consumer Affairs Victoria.</p>
<p>Director of Consumer Affairs Victoria Simon Cohen said although most property managers and landlords do the right thing, it’s important that international students understand the terms of their rental agreement to protect themselves from any unscrupulous conduct.</p>
<p>International students report experiencing problems such as misleading advertising, landlords unlawfully keeping deposits and bonds, and unsafe or unhealthy conditions in rooming houses. </p>
<p>“International students unfamiliar with Victoria’s renting laws can sometimes be vulnerable to landlords and accommodation providers who don’t follow the rules,” Mr Cohen said.</p>
<p>“By helping newly arrived students understand their renting rights, we are giving them the tools to help ensure they can live in a harmonious environment while completing their studies in Australia.</p>
<p>“As an international student, you have the same renting rights as local residents. This includes the right to ask your landlord to meet their obligations, without any effect on your visa.”</p>
<p><span>International students are advised to:</span></p>
<div>
<ul>
<li><span>book temporary accommodation before arriving and look for longer-term accommodation once in Victoria</span></li>
<li><span>only sign a lease or contract after viewing a property in person</span></li>
<li><span>check the property is clean and safe. Ask the landlord or owner to fix any problems before paying money or signing any agreements</span></li>
<li><span>record any existing property damage in a condition report, and</span></li>
<li><span>check your landlord has lodged the bond with the Residential Tenancies Bond Authority.</span></li>
</ul>
<p>For more information, view the <a href="https://www.consumer.vic.gov.au/news-and-events/news-updates/international-student-renting-rights-news-alert" target="_blank">International student renting rights - News alert</a>. </p>
<p>The free RentRight app, available for iPhone and Android, contains information and tools to help tenants understand their rights and how to best manage their tenancies. Download it at the <a href="https://www.consumer.vic.gov.au/housing-and-accommodation/renting/rentright-app" target="_blank">RentRight smartphone app page</a>.</p>
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Property 101: Teaching international students how to RentRight

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<p>GUEST OBSERVER</p>
<p>Sydney loves to talk about food, and the housing market. But rarely do we talk about the threat that housing poses to the resilience of Sydney’s food system.</p>
<p>If we continue along the path we’re on, Sydney stands to lose more than 90% of its current fresh vegetable production. Total food production could drop by 60% and the city’s supply of food from within the basin could drop from 20% of total food demand to a mere 6%.</p>
<p>Like most Australian cities, Sydney is facing an influx of people – 1.6 million new residents are expected over the next 15 years.</p>
<p>Competing priorities for land are compounded by this growing population, as well as by planning laws that favour development over agriculture – not to mention a changing climate. Cities worldwide are facing the same issues as we try to feed a growing population with limited resources.<span style="line-height: 1.3em;"> </span></p>
<h2>Protecting farmers</h2>
<p>Sydney’s fertile soils are being paved over at a rapid rate. Large portions of areas that currently grow Sydney’s fresh produce are earmarked for release for housing development.</p>
<p>Currently, the planning system does not prioritise agriculture as a land use, meaning urban sprawl into potential farmland continues relatively unchecked. Instead, planning tends to focus on whichever use has the greatest economic value.</p>
<p>In an overheated housing market such as Sydney’s, this tends to mean agricultural land is allowed to be rezoned for houses or other higher-value land uses.</p>
<p>As city land prices rise, more people are moving further out for a “tree change”. Lower land prices on the city’s fringe allow families to purchase large homes and lots at a lower price than in the city.</p>
<p>But many of these new rural residents don’t like the early morning sound of tractors and the smell of manure on neighbouring farms, and make nuisance complaints to their local council. These complaints often result in tough operating restrictions being placed on farmers’ activities, such as limits on hours of operation and types of fertiliser that can be used.</p>
<p>These restrictions are introduced by councils to appease local residents and are in accordance with noise pollution laws designed for urban residential areas. But they can have significant impacts on farm viability. In several instances, such restrictions have pushed marginal farms into the red, eventually forcing farmers off their land and out of the basin.</p>
<p>The New South Wales government is interested in taking steps to ameliorate this problem, as demonstrated through its recently tabled Right to Farm policy. This seeks to ensure that farmers’ right to operate their business is protected against nuisance complaints.</p>
<h2>Why growing food in Sydney is important</h2>
<p>There are enormous benefits to growing fresh food in the Sydney basin – and, indeed, near any city. Perishable foods such as Asian greens and eggs can be grown close to market, reducing spoilage, waste and food miles, and buffering against spikes in fuel prices.</p>
<p>Agriculture and food processing are labour-intensive, providing significant local job opportunities. In fact, the benefit of Sydney’s agriculture to the economy is estimated at upwards of A$4.5 billion. This includes jobs in storage, processing, transport and retail.</p>
<p>A changing climate will mean many of Australia’s important foodbowls, such as the Murray-Darling Basin, are likely to be more vulnerable to droughts and floods. Sydney’s higher rainfall and fertile soils will become even more suitable for growing food, meaning their importance to Sydney’s food supply will grow.</p>
<p>Farms on the fringes of our city will help buffer the city against the impacts of climate change, by cooling the city and helping wildlife move between habitat.</p>
<p>Food produced in close proximity to the city can also be fertilised by nutrients and organics in urban food waste, garden waste and wastewater. Accounting for these sources, Sydney actually has 15 times more phosphorus supply than agricultural demand. That means local food systems can better buffer against the growing global threat of phosphorus fertiliser scarcity, a threat that could lead to further fertiliser price spikes and supply disruptions.</p>
<p>Sydney’s farms also help buffer the city against disruptions to food supply. For example, if a bushfire or fuel shortage cut transport routes into Sydney, the city would have only two days' stock of fresh produce.</p>
<p>Our research shows that in the face of dramatically increasing population, Sydney stands to lose these benefits.</p>
<p>A similar study in Melbourne found their city’s foodbowl could plummet from meeting 41% of Melburnians' food demand to 20%.</p>
<p>Unlike Melbourne, Sydney is geographically constrained by mountains on one side and ocean on the other, meaning there is nowhere for agricultural production in the basin to go. Our agricultural production is literally being chased to the hills – and this at a time when we face the challenge of feeding over a million extra mouths.</p>
<p>We’ve mapped Sydney’s current and future food production. The pink areas of the images below are areas where food is produced. As the maps indicate, the areas producing food in 2031 will dramatically decrease if we continue along the path we’re on.</p>
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112641/area14mp/image-20160223-29156-w73069.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112641/width668/image-20160223-29156-w73069.png" alt=""></a></h4>
<h4>
<span class="caption">Sydney’s peri-urban farms produce 20% of the city’s food supply.</span> <span class="attribution"><span class="source">Institute for Sustainable Futures UTS</span>, <span class="license">Author provided</span></span><span style="font-family: Tahoma, Helvetica, Arial, sans-serif; line-height: 1.3em;"> </span><span style="font-family: Tahoma, Helvetica, Arial, sans-serif; line-height: 1.3em;"> </span>
</h4>
<h4><a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112643/area14mp/image-20160223-16416-sbgwc5.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/112643/width668/image-20160223-16416-sbgwc5.png" alt=""></a></h4>
<h4>
<span class="caption">If we allowed unchecked urban sprawl, Sydney’s farms might produce only 6% of the city’s food supply.</span> <span class="attribution"><span class="source">Institute for Sustainable Futures UTS</span>, <span class="license">Author provided</span></span><span style="line-height: 1.3em; font-family: Tahoma, Helvetica, Arial, sans-serif;"> </span>
</h4>
<h2>A better food future</h2>
<p>Our city plans need to value and better protect agriculture from urban sprawl. Planners need to make decisions based on evidence to balance competing land uses.</p>
<p>These decisions need to take account of the full suite of values and benefits we gain from Sydney farmers, not just the economic gains we stand to achieve by converting the land to houses.</p>
<p>Farmers in the basin need better commercial conditions, a fair price for commodities, land security and support from other residents.</p>
<p>Sydneysiders need access to affordable housing, jobs and infrastructure.</p>
<p>But, equally, they need access to nutritious and affordable food, reversing the high rate of obesity and diabetes, and “food deserts” without access to groceries particularly prevalent in Western Sydney.</p>
<p>Through increased awareness and accessibility, food shoppers can also support local food producers, increasing the resilience of Sydney’s food system and simultaneously reducing the environmental footprint of food.</p>
<p>However, strategic policies and plans are needed to ensure that agriculture is valued and prioritised as an important land use and economic activity </p>
<p> </p>
<p class="x_author"><em><span class="fn author-name" style="line-height: 1.3em;"><span style="line-height: 1.3em;">Dana Cordell</span><a href="https://theconversation.com/profiles/dana-cordell-1041" rel="author"></a> is r</span><span style="line-height: 1.3em;">esearch principal, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/dana-cordell-1041" target="_blank">here</a>.</span></em></p>
<p class="x_author"><em><span class="fn author-name" style="line-height: 1.3em;"><span style="line-height: 1.3em;">Brent Jacobs</span> is r</span><span style="line-height: 1.3em;">esearch director, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/brent-jacobs-231004" target="_blank">here</a>.</span></em></p>
<p class="x_author"><em><span class="fn author-name" style="line-height: 1.3em;"><span style="line-height: 1.3em;">Laura Wynne</span> is s</span><span style="line-height: 1.3em;">enior research consultant, Institute for Sustainable Futures, University of Technology Sydney and can be contacted <a href="https://theconversation.com/profiles/laura-wynne-97854" target="_blank">here</a>.</span></em></p>
<p class="x_author"><em><span style="line-height: 1.3em;">All are authors for The Conversation.</span></em></p>
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jchancellor-FAypfDUnLy

Sydney's property development threatening foodbowl

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<p>A clearance rate of 74 percent was recorded this weekend compared to 76 percent last weekend and 70 percent this weekend last year, according to the REIV.</p>
<p>There were 1018 auctions reported to the REIV, with 754 selling and 264 being passed in, 138 of those on a vendor bid.</p>
<p>The overall clearance rate in the year to date for 2016 is 75 percent, up one per cent on the same period in 2015.</p>
<div class="detail-block">
<div class="week-ending-items">
<div class="row">
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">598 <span style="line-height: 1.3em;">Sold at Auction</span>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">155 <span style="line-height: 1.3em;">Sold before Auction</span>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">264 <span style="line-height: 1.3em;">Passed In</span>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">11 <span style="line-height: 1.3em;">Withdrawn</span>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">1 <span style="line-height: 1.3em;">Sold after auction</span>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">138 <span style="line-height: 1.3em;">Passed in on Vendor bid</span>
</div>
</div>
</div>
</div>
<div class="col-xs-12 col-sm-6 col-md-6">
<div class="event-item">
<div class="event">
<div class="number">10 <span style="line-height: 1.3em;">Postponed</span>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="house-sale-detail-setion">
<div class="clearfix"> </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">Top House Sales</h4>
<table class="table table-striped">
<thead><tr>
<th>Location</th>
<th>Price</th>
</tr></thead>
<tbody>
<tr>
<td>4 Kerferd St MALVERN EAST</td>
<td>$4,680,000</td>
</tr>
<tr>
<td>91 Woodland St ESSENDON</td>
<td>$3,400,000</td>
</tr>
<tr>
<td>80 Wellington St ST KILDA</td>
<td>$3,300,000</td>
</tr>
<tr>
<td>166 Finch St GLEN IRIS</td>
<td>$3,266,000</td>
</tr>
<tr>
<td>27 Union St ARMADALE</td>
<td>$3,110,000</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>20 Silver St MALVERN</td>
<td>$1,950,000</td>
</tr>
<tr>
<td>40A Ebden Av BLACK ROCK</td>
<td>$1,912,500</td>
</tr>
<tr>
<td>4/43 Faversham Rd CANTERBURY</td>
<td>$1,825,000</td>
</tr>
<tr>
<td>107/107 Beach St PORT MELBOURNE</td>
<td>$1,350,000</td>
</tr>
<tr>
<td>2/3 Bellett St CAMBERWELL</td>
<td>$1,350,000</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>29 Spruhan Av NORLANE</td>
<td>$245,000</td>
</tr>
<tr>
<td>21 Oxley St SUNBURY</td>
<td>$292,500</td>
</tr>
<tr>
<td>1 Howqua Ct EPPING</td>
<td>$319,000</td>
</tr>
<tr>
<td>29 Mulberry Pass CRAIGIEBURN</td>
<td>$330,000</td>
</tr>
<tr>
<td>28 Cassinia Cl DELAHEY</td>
<td>$350,500</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>11/25-27 Newton Cr LALOR</td>
<td>$256,000</td>
</tr>
<tr>
<td>30/23-25 Robe St ST KILDA</td>
<td>$277,000</td>
</tr>
<tr>
<td>6/8 Anzac St CARNEGIE</td>
<td>$290,000</td>
</tr>
<tr>
<td>506/52 Park St SOUTH MELBOURNE</td>
<td>$300,000</td>
</tr>
<tr>
<td>2/405 Dandenong Rd ARMADALE</td>
<td>$300,000</td>
</tr>
</tbody>
</table>
<p>Source REIV</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
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jonathanchancellor-7SQnKwU6yx

Still sitting in the 70s: Melbourne's auction clearance rate: REIV

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<p><span>Singer songwriter Missy Higgins, the ARIA award-winner, has secured a buyer for her Abbotsford red brick warehouse conversion, as her offering joined the 2016 early bird properties selling quickly and without disappointment.</span></p>
<p><span>Higgins paid $1.8 million in mid-2012 for the property (above) with ITN Architects refurb. It was listed by private treaty through Kay &amp; Burton with $2.1 million hopes. There's suggestions 21a Mollison Street, set a short walk to the Yarra River, Studley Park and Victoria Street shops, fetched $2.2 million.</span></p>
<p><span>"The market is rocking strong at all levels on almost all properties," said Melbourne buyers agent Mal James.</span></p>
<p><span>"Only C grade stock is failing and that is almost always a function of seller opinion versus market opinion on the price," he suggested.</span></p>
<p><span>Four sales above $6 million kept the trophy home markets turning over nicely, with agents in Sydney and Melbourne now complaining they don't have the prestige stock to match buyer demand.</span></p>
<p><span>Australian test cricketer vice captain David Warner and his wife Candice secured a bullish $7 million plus sale of their South Coogee home three weeks ahead of its intended weekend auction.</span></p>
<p><span>The sale was easily above the $6.25 million paid two years ago by the couple who listed following their $4 million purchase of a oceanfront building block in Maroubra. </span></p>
<p><span>The South Coogee home,</span><span> once rented by ealier owners to the cast of the <em>Geordie Shore</em> reality television show, sold through McGrath agent Bethwyn Richards.</span></p>
<p><span>There was also a $6.45 million Mosman pre-auction sale which the Simeon Manners agency declared for its 61a Muston Street offering.</span></p>
<p><span>In Armadale, the price of the under the hammer sale of 12 Barnato Grove through Kay &amp; Burton, was not released publicly.</span></p>
<p><span>But attendees said it was sold at $6.74 million with four bidders no doubt attracted to the cutting edge five bedroom home set in Nathan Burkett designed gardens that featured in '100 Australian Gardens &amp; Landscapes.'</span></p>
<p><span>There'd been initial $4.5 million-plus price guidance.</span></p>
<p><span>A pre-auction modern four bedroom Balwyn home sale presumably took third place on the sales' podium as it was listed with $6 million plus aspirations, selling at an undisclosed price well ahead of the weekend auction.</span></p>
<p><span>Piermont, at 4 Boston Road, was a newly completed Phillip Mannerheim-designed home, with eight car basement garage, in the suburb's omnipresent Chateau-style (below).</span></p>
<p><span><img src="/images/2016/03/7/main.jpg" alt="" width="660" height="495"></span></p>
<p> </p>
<p><img src="/images/2016/03/7/image11.jpg" alt=""></p>
<p><span>The nation's cheapest weekend result was a house in the Brisbane suburb of Marsden. The $267,000 sale at 10 Birch Street secured a three bedroom house which last sold at $90,000 in 1993. It fell short of the $285,000 asking price when listed by private treaty last November.</span></p>
<p><span>With less stock on the market there were more sales at higher than reserve than in previous weeks.</span></p>
<p><span>Wildly exceding expectations, in Sydney's Kingsford, an unrenovated, three-bedroom house attracted 27 bidders who forced the price to $3,065,000 – $1,065,000 over its reserve.</span></p>
<p><span>It traded in 2008 for just $1,015,000 with NG Farah selling agent Glenn Farah saying the weekend result at 6 Forsyth Street was “out of line” with other results in the area.</span></p>
<p><span>The auction of a classic Pettit and Sevitt house at West Pennant Hills, where seven parties lodge 68 bids before the hammer fell at $1,237,500 for the unrenovated house at 31 Eaton Road – $237,500 more than the reserve.</span></p>
<p><span>In St Kilda, the 1919 Aston Court, Spanish Mission apartment at 2/43 Acland Street had been listed with $900,000 plus hopes. Last traded at $635,000 in 2003, the two bedroom was knocked down at $1.24 million.</span></p>
<p><span>Not so lucky in St Kilda was entertainment industry talent manager Pete Sofo whose Santorini, 214/3-7 Alma Road investment apartment offering now comes with a private treaty price of $469,000. Sofo's McGrath agents had it initially listed expecting $400,000 to $440,000 for its March 5 auction. It last traded at $287,000 in 2006.</span></p>
<p><span>There were fewer auctions held this week across the capital cities - 2,253 compared to last week's 2,701, and the clearance rate fell from 71 percent last week to 68 percent this week, according to CoreLogic RP Data.</span></p>
<p><span>This week’s result marked the first time below the 70 percent mark this year.</span></p>
<p><span>Volumes will head lower next week due to the Labour Day public holiday in Melbourne where auction clearance rates sat at 70 percent, having fallen from 74 percent last week, with clearance rates ranging from 75.2 percent in North East Melbourne to 62.5 percent in Outer East Melbourne.</span></p>
<p><span>In Sydney, clearance rates fell to 68 percent this week from 72 percent last week. Over the week, 684 auctions were held across the city, down from 919 last week and also lower than the 944 that went under the hammer last year.</span></p>
<p><span>The inner regions of Sydney have maintained strength this week, with City and Inner South (81.3 percent), Ryde (80.7 percent) and Northern Beaches (78 percent) showing the strongest auction clearance rates for the week.</span></p>
<p><span>Brisbane’s preliminary results show 52.3 percent of auctions and across the Gold Coast, a preliminary clearance rate of 32.4 percent was recorded this week.</span></p>
<p><span>Canberra had the nation's best clearance rate at 71 percent this week with prices between $287,000 for a $380 a week, 1990s Kingston flat rental and a $2,585,000 four bedroom home in Forrest.</span></p>
<p><a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.28.58%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.28.58%20PM.png" alt=""></span></p>
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Few auctions missing the mark among early bird offerings 

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<p>Developer Toga Group said it sold 80 percent of its new 192-apartment residential tower "One Twenty Macquarie" in Macquarie Park in Sydney's north within four hours  of launching on Saturday morning. </p>
<p>More than 50 percent of the buyers were owner-occupiers.</p>
<p>Buyers at the launch exchanged $130 million in contracts for apartments after buyers queued from 8am.</p>
<p><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/2016/03/7/One20Twenty20Macquarie20Interior20Looking20Out_ma.jpg" alt=""></p>
<p><span id="0.33669214718975127">Toga</span> chief executive Fabrizio Perilli said One Twenty Macquarie’s prime location in Macquarie Park’s bourgeoning satellite city coupled with the exceptional views on offer, were among the reasons more than 150-apartments were snapped up within four hours of release.</p>
<p>“This is a strong result and highlights the underlying demand for quality apartments with superb views and lifestyle amenities in an attractive satellite city,” Mr Perilli said.</p>
<p>Buyers were provided the opportunity to nominate apartment preferences in the lead up to the March 5 sales launch; minimising disappointment.</p>
<p>“Two and three-bedroom apartments proved to be particularly popular with the turnout of buyers on the day,” Mr Perilli added.</p>
<p><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/2016/03/7/Macquarie.jpg" alt=""></p>
<p><span id="0.14105842309072614">Toga</span> is fast approaching its 1000<sup>th</sup> sale at Macquarie Park following the weekend result, given its sold out 618-apartment development Macquarie Central and Macquarie Green; a 164-apartment development now 90 per cent sold.</p>
<p>Prices of apartments started from $600,000 for a one-bedroom. For more information, <a href="https://www.onetwentymacquarie.com.au" target="_blank">click here</a>.</p>
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Toga sells 80 percent of One Twenty Macquarie

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<p><span>Hobart's Theatre Royal Hotel, one of the oldest pubs in Australia, has been bought by the University of Tasmania for $1.7 million.</span></p>
<p><span>The university snapped up the two-storey hotel, built in 1834 by Peter Degraves, founder of Cascade Brewery last week at Knight Frank auction.</span></p>
<p><span>The pub is next to the Theatre Royal and on the other side, the university has a $90 million arts hub.</span></p>
<p><span>In central Hobart is a 400-bed student accommodation facility on Melville Street, part of the development strategy by vice-chancellor Professor Peter Rathjen to immerse the university into the daily life of the city.</span></p>
<p><span>"In the great university cities of the world, the campus is right in the heart of city, providing life, energy and character," Professor Rathjen told <em>AFR Weekend</em>.</span></p>
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Hobart's Cascade Theatre Royal Hotel sells to Tasmania Uni

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<p>When you start to see politicians debating tax changes you should be afraid – very afraid. We know with the negative gearing debate that neither party has completed any costings preferring to work from the economic theory of guesstimates.</p>
<p>This is a very dangerous path as Australia does not have a Housing Minister and any changes are fraught with danger.</p>
<p>Just this week, the Australian Bureau of Statistics (ABS) revealed that for the first time rental, hiring and real estate service companies made $14 billion before tax in the second half of 2015 while mining companies made $9.8 billion. This is not the time to start meddling with property taxes as an excuse for economic reform policy.</p>
<p>I have no doubt that any changes to negative gearing will distort the market, and should there be an “investor run” prices will inevitably fall.</p>
<p>Australia is currently recording wage growth at a record low of 2.2 per cent a year. This is the lowest annual growth since the ABS started recording annual growth back in 1998. On top of that statistic in the September quarter, the ratio of household debt to income hit a new high of 184.6 per cent which translates to households’ debt now being at 1.85 times their total income.</p>
<p>This record growth in debt is a by-product from record low interest rates. But before we hit the panic button we need to investigate further and try and identify what is causing this.</p>
<p>On many occasions I have said “if there was a gold medal for real estate portfolios Australia would win hands down.” I see no use comparing Australia’s debt ratios with other countries when the Australian model has no tax payable on the principal place of residence and the overseas models do have tax payable on the principal place of residence. Australians work their principal place of residence as their main superannuation platform, which works very well when you have the cash rate at record lows.</p>
<p>If you were a betting person you would definitely be betting that the next cash rate movement will be down. Of course these high debt ratios will be challenged when the Reserve Bank of Australia (RBA) starts increasing the cash rate, but nobody really knows when that will be or in what decade even.</p>
<p>Prior to the Global Financial Crisis the average cash rate over a 25 year term came in at around 7.25 per cent, where based on what we are seeing today mortgage holders are going hard at 2.00 per cent.</p>
<p>Another statistic that is flying well off the radar are reverse mortgages which very few people discuss within the Australian property debate. In its annual Reverse Mortgage Report, Delloitte estimates more than $500 billion of home equity is held by Australians aged over 65, with the total reverse mortgage loan book worth $3.66bn as at the end of 2014.</p>
<p>This figure is naturally added to the Australian household debt figure so this would go part of the way to explaining why we are starting to see record debt levels. Back at the end of 2014 there were almost 40,000 reverse mortgages on issue in Australia with the average size being $92,000, up from $86,000 in 2013. It would then be reasonable to suggest that the number of reverse mortgages would have increased in 2015 as too the average mortgages – this is clearly a growth market.</p>
<p>To put this into further perspective the reverse mortgage market loan book was $3.66bn in 2014 and the Commonwealth Bank home loan portfolio currently sits around $393 billion. With many retirees opting for reverse mortgages this is another reason why we are seeing fewer properties on the market. Although this would change significantly once the cash rate starts increasing or a federal Government starts tampering with negative gearing in an adverse way.</p>
<p>What it does tell us is that Australia needs property investors as they play an integral part in Australian property machinations. If you want to have a rational debate about housing affordability in Australia firstly examine the delays by respective governments who forever and a day burden and choke the supply side of the property industry. It’s obvious to most that they fail to understand the Supply V demand equation.</p>
<p>Furthermore the Labor negative gearing proposal states that this will only apply to new properties. Well somebody should advise them that in December 2008 they lifted the number of properties that can be sold from new developments by foreign buyers from 50 per cent to 100 per cent. Property developers are selling all their new developments directly overseas as that way they can achieve higher prices so the local markets are blocked from buying these developments.</p>
<p>Nor is there any requirement nor legislation stipulating that foreign buyers must rent the property out to the local market – we do know that currently in Australia there are thousands of properties that have been land banked. Politicians are hopeless when it comes to the Australian property market.</p>
<p>The last thing the Australian economy needs is a domino effect with property prices because they are not pretty and should be avoided at all costs. If you want to bring property prices down do it organically by increasing supply which just so happens to be the greatest failure of local, state and federal Governments in the modern economy.</p>
<h4>MOSMAN – 2088</h4>
<p>• Number of houses on the market this time last year – 83</p>
<p>• Number of houses on the market last week – 64</p>
<p>• Number of houses on the market this week – 63</p>
<p>• Number of apartments on the market this time last year – 53</p>
<p>• Number of apartments on the market last week – 52<br>• Number of apartments on the market this week – 53</p>
<h4>CREMORNE – 2090</h4>
<p>• Number of houses on the market this time last year – 10</p>
<p>• Number of houses on the market last week – 18</p>
<p>• Number of houses on the market this week – 11</p>
<p>• Number of apartments on the market this time last year – 23</p>
<p>• Number of apartments on the market last week – 23</p>
<p>• Number of apartments on the market this week – 25</p>
<h4>NEUTRAL BAY – 2089</h4>
<p>• Number of houses on the market this time last year – 4</p>
<p>• Number of houses on the market last week – 8</p>
<p>•Number of houses on the market this week – 10</p>
<p>• Number of apartments on the market this time last year– 36</p>
<p>• Number of apartments on the market last week – 26</p>
<p>*Number of apartments on the market this week – 25</p>
<p><span> </span><em><span>ROBERT SIMEON</span> is a director of </em><em><a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> </em><em>and has been selling residential real estate in Sydney since 1985. <br>He has also been writing real estate blog </em><em><a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> </em><em>since 2000. </em></p>
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