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

Joel Robinson

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

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

Sherpa acquires new site for second Brisbane apartment tower

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

Parcel delivery is joining the apartment amenity checklist

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Sydney may have forgotten Natalie Jean Wood. But Real Estate Agents haven’t forgotten to underquote; when it comes to auctioning a property.
I definitely have something to say about what I perceived may well be, blatant underquoting strategies used in the marketing of the Surry Hills property: 139 Kippax Street, <a href="/expert-insights/buying/surry-hills-terrace-listing-of-the-woman-sydney-forgot">the home once owned by Natalie Wood</a>.
It will take more than a coffee to calm me down, particularly after my client spent $4,000 doing Due Diligence (DD) prior to the auction.
The price guide that was given to me and other interested parties I spoke with at the time, was: $550,000-$650,000.
First cab off the rank, and to immediately dispel any misconceptions you may have. Misconceptions about me being a disgruntled buyer’s agent and particularly since I didn’t purchase the property, on behalf of my client.
<ol start="1">
<li>Part of the DD we undertook revealed that land in the area was worth approximately $10,000-$11,000/sqm.</li>
<li>There was some value in the building regardless of what the refurbishment works would cost, and</li>
<li>We were under no illusion that we would obtain the home for the lower end of the price guide which was given.</li>
</ol>
It’s not rocket science
It’s not rocket science to work out property (price-guide) values that are closer to true market values. To ascertain these we look at the following:
<ol start="1">
<li>Land value as compared to other sales in the local area.</li>
<li>Value of existing structure/building (taking into account what is required or not required to be altered, changed or fixed) and integrity of existing structure.</li>
<li>Aesthetic values including but not limited to: visual appeal, location, heritage, charm or story behind the property, views and surrounding landscape and demographics.</li>
<li>Calculate costs to repair/refurbish/build and compare with current properties on the market and recent property sales. properties that would be of similar ilk.</li>
<li>If still in doubt? call a professional valuer for their opinion.</li>
</ol>
Therefore, for an agent or agency to hide behind the worn and dated argument of “no comparable sales” is just sheer ignorance or intentional use of sleight of hand tactics. I have written about these issues previously.
1) The what-if test. 
2) Dumb to underquote and dumber not to know property values.
Dialogue with agency
Correspondence and conversations with the agent, all led us to believe that the agent truly didn’t know the value of the property. On the alternative, we also thought that there may be an underlying driver to draw a crowd. We know the latter to be under-quoting.
If other buyers were going to be persuaded by either one of the above premises, we believed that this would work in our favor.
The low-ball price-guide may actually keep the value of the property low, this is what we presumed anyway. We felt that the low price-guide coupled with the added features of the home; the circumstance of the deceased owner and the dilapidated condition of the property, was a mix that would work in our favor.
Nonetheless, our limit was set at $900,000 and this took into account our estimated land value as well as the intrinsic and heritage value of the property. Yes, and the history that came with the home.
Again, we knew that the agent was off the mark completely. However, the agent insisted that the “buyer’s feedback” was $550,000-$650,000 and with the interest obtained, it may reach the $700,000 mark. I beg to differ.
A professional agent would have done and assessed the value more along the lines of $850,000-$900,000 and thus presenting a correct price-guide. A guide that is not reliant on; “buyer’s feedback” nor left to ignorance. But, I was not engaged to teach them how to do their job.
Don't you just hate it, when you call an agent and ask for the 'price-guide' and they respond with: don't know at this point in time, once we hold a few opens we will gauge the "buyer's feedback". Get real !!! and moving on...
The outcome
Well, my buyer was not successful; as much as I tried to slow things down, there were others that wanted the property at all costs. The home sold for $1,105,000.
One may well say, ‘market forces’ were at play once the auction reached and went beyond the $950,000 mark. 
Warning to agents
Now, if you really want to accept the argument that: any so called out-of-line sale price is influenced by the lack of comparable sales to go by and play the ignorance card, or even take ill advice from vendors? Perhaps it’s time a Professional Valuer was called in, to assist you.
Obtaining and contracting the services of a valuer, is a better option to support and protect you as you. After all, you are the professional real estate agent. Don't hang your hat on statements such as: "market forces" nor "the vendor made me do it" in the belief that these will protect you from prosecution.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Sydney may have forgotten Natalie Jean Wood, but real estate agents haven’t forgotten to underquote: Edwin Almeida 

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Two inactive walls spanning 100 metres in a highly visible corner of Melbourne's CBD. Is this really the best design outcome all parties involved could conjure? Maybe it is, but it is a blight on Melbourne's skyline.

Notwithstanding the likelihood that the project in question at 560 Flinders Street will receive a serious paint job, the blank edifices to north and west are ghastly and a reflection of a poor design outcome sanctioned by those vested in maintaining Melbourne's design standards. 560 Flinders Street isn't exactly alone either when it comes to creating vast blank spaces in Melbourne's skyline.

109 Clarendon Street on Southbank, for instance, maintains a precast eastern elevation set back from the podium, thus forever remaining exposed - this is sheer planning stupidity!

Granted certain development sites with common boundaries should maintain blank walls with an eye towards future adjoining development, but there are many which will remain exposed indefinitely. 560 Flinders Street, for example, is surrounded by the 1920's Markillies Hotel to both inactive elevations; the prospects of both blank walls remaining visible permanently is very real.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image5_4.jpg" rel="gallery-all" title="A blight on our fair city"><img alt="" class="image-article-full-width-580px" height="330" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image5_4.jpg?itok=fIkXm1mj" title="A blight on our fair city" width="580"></a>

<figcaption>A blight on our fair city; 560 Flinders and Marco currently under construction</figcaption></figure>Planning Minister Richard Wynne's move last year to tweak planning laws will go some way to eliminating these poor design outcomes, with minimum tower separations set in place which will encourage active elevations to all sides for future developments. Simultaneously these planning changes will also highly likely lead to existing blank walls remaining so.

So how should this blight be addressed? Logically no inactive precast walls/elevations above the podium levels is a no-brainer!

Yet how to address certain existing projects with retrospective design changes? Setting aside prohibitive cost and engineering issues for a moment and stepping into a utopian outcome, could green walls be fitted to precast elevations which have no prospect of being covered?

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/contemporary-eco-friendly-architecture-design-ideas-residential-buildings.jpg" rel="gallery-all" title="Contemporary and creative but not compulsory. Image courtesy Minimalisti"><img alt="" class="image-article-full-width-580px" height="873" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/contemporary-eco-friendly-architecture-design-ideas-residential-buildings.jpg?itok=Sbmtk_KT" title="Contemporary and creative but not compulsory. Image courtesy Minimalisti" width="580"></a>

<figcaption>Contemporary and creative but not compulsory. Image: Minimalisti</figcaption></figure>Seen above is a prime example of what can be achieved on a grand scale regarding greening a large elevation. Various examples exist around Melbourne on a smaller scale, with Triptych Southbank's south-facing podium a premier example; could this just not be extended to cover an entire elevation? The equivalent green wall applied to a Melbourne building would be stunning.

Perhaps this strategy could be jointly adopted by the City of Melbourne and the State Government by contributing to initial costs of implementation, with body corp to assume ongoing costs thereafter. City of Melbourne is <a href="http://www.melbourne.vic.gov.au/community/parks-open-spaces/greening-the-city/Pages/green-roofs-walls-facades.aspx">already encouraging greening existing roofs, walls or facades</a>. Why not take it a step further?

Like most problems, if enough money is thrown at it an outcome can be found. But can the outcome justify the expense?

Venturing back to the land of reality, such a scheme would be hamstrung by a variety of factors including structural integrity, safety, drainage, wind forces and of course cost. Yes, the logistics of implementing this idea of retrospective green walls to inactive high-rise elevations is verging on impossible, but it's a far more palatable outcome than some of the precast visual pollution Melbourne has and is being subjected to.

Lead image courtesy Minimalisti &amp; Oh-Yes-Melbourne
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silvermb

A green solution to an unsightly problem

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House price growth for the Gold Coast was strongest in Coombabah, Burleigh Heads and Mermaid Waters for the year to November, according to JLL.
JLL's Queensland Residential Market Report for February said other highly priced suburbs have shown less growth, with Palm Beach up 3.7 percent, Tugun up 0.7 percent, while Surfers, Bundall, Broadbeach and Tallai had minimal growth of 2.1 percent to 2.8 percent.
"Outside of the metropolitan area, median house price growth in the year to November (CoreLogic) was most evident in the Gold Coast, averaging $626,000, up 6.9 percent, and the Sunshine Coast, averaging $558,000, up 5.1 percent. Toowoomba median house prices were $420,000, up 4.2 percent," it said.
"Conditions in Cairns are improving and the median house price of $424,000 was up 4.9 percent in the year to November.
"Most areas have registered single digit growth in the past year but Mackay is down 11.5 percent to $361,000, Gladstone is down 5.7 percent to $396,000, and Rockhampton is down 2.0 percent to $319,000."
<a href="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%202.45.55%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
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po-LsXgBTHBmX

Gold Coast house price growth strongest in Coombabah, Burleigh Heads: JLL 

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GUEST OBSERVER
The dawn of Autumn brings a fresh round of listings to the residential market, as vendors who have been waiting patiently for the holiday season to conclude begin to put their property up for sale.
 Listings in February are up by 50% for houses, 9% for townhouses and 14% for apartments compared to last month, albeit coming from the lowest turnover month of the year.
Increased supply equates to more choice for buyers. While bidding at auctions was strong and nominal prices were higher than last year, many properties in the inner suburbs have seen a decrease in real values since February 2015.
Average house prices in the inner suburbs were down 2% over the rolling quarter. After adjusting for inflation, the worst performer was the inner North, with median prices consistently falling each month since October 2015. Brunswick, Brunswick East and North Melbourne are all on Secret Agent's bust list for three or more rolling quarters. At the other end of the market, real prices in the inner South are on par with the highest point reached in 2015. With only small sale volumes, this statistic might be exaggerated, but it is supported by the underlying trend of rising house prices in this region. 
South Melbourne and Port Melbourne are the best performers, each experiencing four and three consecutive rolling quarters of price growth, respectively.
<a href="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%201.56.15%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%201.56.15%20PM.png" alt="">
Townhouses saw the biggest drop in price of all property types, down 4.5% over the past three months. This is great news for buyers, who were able to obtain more value for their money. The median price per square metre was down 16.5% to $6,300. Despite being well above the median price per square meter for houses, which currently sits at approximately $5,000 per square metre, this is well below the usual premium charged for the convenience townhouses offer to homeowners.
Apartments are the only market that saw a price increase this quarter compared to last, by nearly 2%. With mortgage rates still at an all-time low, many potential buyers are able to enter the market at the bottom end. Fitzroy is again on our apartment boom list, with Collingwood also joining as a high growth suburb in recent months. On the other hand, CBD apartments continue to fall in value, down 11% in real terms since this time last year. 
This trend is likely to continue as the year progresses and more supply is released to the market. The Melbourne CBD and Southbank areas have both experienced three rolling quarters of price decline. Secret Agent notes that precedents are still being broken at the higher quality end of the market. Our data does not accurately represent this part of the market and it needs to be considered from an observational perspective. Quality has been in short supply in the early parts of 2016. As a result, quality offerings are snapped up quickly once discovered by the general public.
The next few months will help set the tone for the rest of the year. The property market is highly topical at the moment with the expectation of a slow down in the economy. This could bring the debate of a potential bubble burst back into the public arena. However, the latest GDP figures show an economy that is still proving to be resilient. Over the coming months, Secret Agent intends to delve deeper into the economy and look at current expectations for the short to medium term.
Quarterly Scorecard
DEC 2015 - FEB 2016
<a href="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%2012.56.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%2012.56.27%20PM.png" alt="" width="851" height="489">
For more information, <a href="https://secretagent.com.au" target="_blank">click here</a>.
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jchancellor-FAypfDUnLy

Melbourne February house listings up 50 percent from January: Secret Agent

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Following recent policy announcements by the Federal Opposition, housing related issues such as affordability have come onto the political agenda. 
Whether Labor’s policies would actually improve housing affordability, especially without supply and infrastructure reforms, remains to be seen. Nevertheless the following piece looks at affordability by analysing median house and unit values into bands across Australia’s suburbs in order to get a deeper look at the cost of housing.
House values tend to be more expensive in capital cities than in regional areas. This is highlighted by the fact that 51.2% of regional suburbs have a median value of between $200,000 and $400,000 compared to 15.4% of capital city suburbs. 
Similarly just 0.6% of capital city suburbs have a median house value of less than $200,000 compared to 13.1% of regional suburbs. There is no value band that shows a clear majority across the combined capital cities however, the 33.1% of suburbs with a median value of between $400,000 and $600,000 is the band with the greatest share of suburbs.
<div>
<h3>Suburb median house value bands, capital cities vs. regional areas, Dec-15</h3>
<a href="/images/2016/03/4/2016-02-29--image1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/4/2016-02-29--image1.jpg" alt="">
Across the unit markets, the greatest share of suburbs both across the capital cities and in regional areas have a median value between $200,000 and $400,000. There is a large difference between the two in that 71.4% of regional suburbs have a median unit value of between $200,000 and $400,000 compared to 41.2% of suburbs in the capital cities. Again when we look at the most affordable suburbs there is a large difference, just 1.7% of capital city suburbs have a median unit value of less than $200,000 compared to 13.3% across regional Australia. 
<h3>Suburb median unit value bands, capital cities vs. regional areas, Dec-15</h3>
<a href="/images/2016/03/4/2016-02-29--image2.jpg" target="_blank"> Click to enlarge</a>
<img src="/images/2016/03/4/2016-02-29--image2.jpg" alt="">
Focusing solely on the data across the capital cities really highlights just how expensive Sydney is relative to other cities.
For houses, 25.3% of Sydney suburbs have a median value of between $1 million and $1.5 million making it the largest single value band for the city. Across the other capital cities the value band with the greatest proportion of suburb median values is $400,000 to $600,000 with the only other exceptions Hobart ($200,000 to $400,000) and Darwin ($600,000 to $800,000).
Sydney, Melbourne and Darwin have no suburbs with a median house value of less than $200,000. In Sydney, 47.8% of suburbs have a median house value of more than $1 million compared to 20.5% in Melbourne, 2.6% in Brisbane, 3.8% in Adelaide and 12.9% in Perth.
<h3>Suburb median house value bands across capital cities, Dec-15</h3>
<a href="/images/2016/03/4/2016-02-29--image3.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/4/2016-02-29--image3.jpg" alt="">
It is a similar story for capital city unit markets with 33.1% of Sydney suburbs having a median unit value of between $600,000 and $800,000 making it the largest band for the city. In most other capitals, the highest proportion of suburbs have a median unit value of between $200,000 and $400,000 with the exception of Melbourne and Perth (both $400,000 to $600,000).
As with house values, no suburbs in Sydney, Melbourne and Darwin have a median unit value of less than $200,000. 8.8% of Sydney suburbs have a median unit value of more than $1 million compared to 0.3% in Melbourne, 0.4% in Brisbane, 0.0% in Adelaide and 0.9% in Perth.
<h3>Suburb median unit value bands across capital cities, Dec-15</h3>
<a href="/images/2016/03/4/2016-02-29-image4.jpg" target="_blank">Click to enlarge </a>
<img src="/images/2016/03/4/2016-02-29-image4.jpg" alt="">
The data shows that particularly in our larger capital cities there is a critical undersupply of affordable housing options (even in the unit market). As a result an increasing number of residents are being locked out of home ownership or are being forced to purchase outside of the cities. Remember that although job prospects are generally better in the larger capital cities the difference in average wages across the capital cities is nowhere near as large as the differences in home values.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

Limited capital city housing options under $200,000: CoreLogic RP Data's Cameron Kusher

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The regional city of Horsham in Victoria has slipped from the peak of market position to the start of the decline phase, according to the latest recent Herron Todd White housing clock. 
The valuation firm has issued its latest property clock - a simple broad brush means to suggest where property markets are as at February 2016 - and what direction prices are moving in.
<a href="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%2012.24.22%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%2012.24.22%20PM.png" alt="">
The Horsham residential property market has drawn an outside gate for the start of the 2016 race and will have to work hard to get around the subdued demand and lack of market confidence to get to the fence by the end of the financial year, according to HTW.
The track is likely to be slow, especially at the top end of the market with a limited buyer pool.
Unit values are likely to remain stable due to an oversupply of stock but modern homes in the centre field ($300,000 to $400,000 owner-occupier market) are expected to run a solid race due to maintained strong demand and limited rental stock, says the report.
The volatility of the rural residential market will be closely watched throughout 2016, adds HTW.
The tail end of the field ($100,000 to $200,000) represents longer odds but maintains affordability compared to the centre field.
The median house price in Horsham at the end of 2015 was $237,000 and for units $212,250, according to RP Data.
As an illustration, Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-121788406" target="_blank">52 Francis Street</a> on sale for $240,000 on realestate.com.au. 
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Victoria's Horsham comes off top of HTW's property clock

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The REIV has released details on the suburbs with the top growth in median unit prices in the December Quarter 2015. 
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<td data-sheets-value='[null,2,"Suburb"]'>Suburb</td>
<td data-sheets-value='[null,2,"Dec-15 Median"]'>Dec-15 Median</td>
<td data-sheets-value='[null,2,"Sep-15 Median"]'>Sep-15 Median</td>
<td data-sheets-value='[null,2,"Quarterly Change"]'>Quarterly Change</td>
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<td data-sheets-value='[null,2,"COBURG"]'>COBURG</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,540000]">$540,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,461000]">$461,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.171]">17.1%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA"]'>ST KILDA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,530000]">$530,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,455000]">$455,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.165]">16.5%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PRAHRAN"]'>PRAHRAN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,555000]">$555,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,483000]">$483,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.149]">14.9%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN"]'>BALWYN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,892500]">$892,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,781000]">$781,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.143]">14.3%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLAYTON"]'>CLAYTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,622500]">$622,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,547500]">$547,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.137]">13.7%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELSTERNWICK"]'>ELSTERNWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,589750]">$589,750</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,531000]">$531,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.111]">11.1%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOUNT WAVERLEY"]'>MOUNT WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,795000]">$795,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,727500]">$727,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.093]">9.3%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON EAST"]'>BRIGHTON EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1005000]">$1,005,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,925000]">$925,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.086]">8.6%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MELBOURNE"]'>MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,497500]">$497,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,460000]">$460,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.082]">8.2%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RINGWOOD"]'>RINGWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,502500]">$502,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,465000]">$465,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.081]">8.1%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FRANKSTON"]'>FRANKSTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,336000]">$336,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,312000]">$312,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.077]">7.7%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH"]'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,890000]">$890,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,828750]">$828,750</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.074]">7.4%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MENTONE"]'>MENTONE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,556000]">$556,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,520000]">$520,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.069]">6.9%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY"]'>FITZROY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,660000]">$660,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,617500]">$617,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.069]">6.9%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRUNSWICK"]'>BRUNSWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,504750]">$504,750</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,472500]">$472,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.068]">6.8%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLENROY"]'>GLENROY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,445000]">$445,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,418000]">$418,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.065]">6.5%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CHELTENHAM"]'>CHELTENHAM</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,605000]">$605,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,570000]">$570,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.061]">6.1%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTH MELBOURNE"]'>NORTH MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,548500]">$548,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,518500]">$518,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.058]">5.8%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA EAST"]'>ST KILDA EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,555000]">$555,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,526250]">$526,250</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.055]">5.5%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NOBLE PARK"]'>NOBLE PARK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,372500]">$372,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,353750]">$353,750</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.053]">5.3%</td>
</tr>
</tbody>
</table>
Only suburbs with at least 25 sales in the relevant quarter are included.
Property Observer went looking for recent unit sales in Victoria's Coburg around the median price and came up with a few:
<img src="/images/2016/03/3/image8.jpg" alt="" width="671" height="503">
1. A three-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-coburg-121309090" target="_blank">103C/41-43 Stockade Avenue</a> (above) sold in December for $514,750 
 <img src="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%204.45.12%20PM.png" alt="" width="609" height="370">
2. A two-bedroom unit at <a href="https://realestateview.com.au/real-estate/30-shaftsbury-street-coburg-vic/property-details-sold-residential-9411030" target="_blank">7/30 Shaftsbury Street</a> was sold for $553,000.
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Coburg apartments top median price growth: REIV

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A potential development site at a beachfront location at Main Beach on the Gold Coast has been sold at a Ray White auction for $6.5 million.
The nearly 617 sqm block at 3513 Main Beach Parade is currently occupied by a block of flats.
It was sold under the hammer to a local investor by Michael Willems of Ray White Commercial Gold Coast on behalf of an interstate owner.
“We had an extraordinary response to the marketing campaign with 76 enquiries from a wide range of potential purchasers including local and overseas based investors as well as developers,” Willems said.
 The property comprises 2 x 3 bedroom apartments and 2 x 2 bedroom apartments.
 “There is an option for the purchaser to continue to rent out the property or develop subject to obtaining approval (STCA),” he said. “This is absolute beachfront land at Main Beach so it was highly sought after.”
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Main Beach site sold at Ray White auction for $6.5 million

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GUEST OBSERVER
If you are looking for a home or property investment that is affordable, has great lifestyle appeal and a solid future, then look no further than 90 minutes south of Sydney to Wollongong. Our local buyer's agent has helped us pin point seven reasons why we believe this area is set to perform.
Wollongong is perhaps best known for its steel works at Port Kembla. Since the original furnace opened in 1930, Wollongong has burgeoned into a vibrant city (officially recognised in 1942) while retaining its relaxed coastal lifestyle.
Since the late 1970’s, Wollongong underwent dramatic change as its economy diversified and transitioned from predominately manufacturing to other industries such as tourism, information technology, hospitality, health services, education, construction, public administration and telecommunications.
This led to large investment in infrastructure, such as the electrification of the Sydney to Wollongong rail line in 1985. The population rapidly expanded as Sydney became within commuting distance and Greater Wollongong is now Australia’s 10th largest city with a population of almost 300,000 people. The Wollongong local government area (LGA) is forecast to grow by around 16.5% over the next 20 years while the CBD was predicted to double between the end of 2014 and mid 2017 thanks to the refurbishment of Crown Street Mall and a number of large apartment buildings due for completion during that time.
Wollongong has changed significantly over the last few decades and I believe real estate in the region is set to shine in 2016 and beyond. Here are the top reasons why:
1.  The ripple effect
The median Sydney house price has grown by around 50% since the start of the growth cycle in 2012. The growth cycle started in the inner ring suburbs and then gradually moved to the middle and outer ring suburbs. Many people are now priced out of the Sydney market and looking to buy in regional areas such as Wollongong, the Southern Highlands and Newcastle.
Wollongong has the unique benefit of being only 80km or 90 minutes via road or rail to Sydney, which allows residents to commute to Sydney. In fact, around 20,000 Wollongong residents do this, which allows them to access higher wages in Sydney while having the attractive lifestyle and lower living costs of Wollongong.
The commute time will be drastically reduced in the future as Stage 2 of the WestConnex project (opening in 2019) will have a ‘tunnel stub’ at Kogarah Golf Course near Sydney airport for the proposed ‘Southern Connector’ freeway linking the M5 in Sydney with the F6 in Wollongong. Once the exact route is announced, Wollongong prices will boom.
2.  Value for money
With a median price of $665,000, you can buy a house in Wollongong for around two-thirds of a Sydney house, which has a median price of $987,000. This is despite being a large city with all the associated amenities and enviable coastal position. However, growth has started to pick up as people realise the value and lifestyle on offer, so I don’t expect this large gap to remain for long.
The northern suburbs are the most expensive in Wollongong as there is a natural geographical boundary between the ocean and the escarpment which limits supply. They also have beautiful beaches, picturesque ocean pools, seaside restaurants and easy access to hiking trails in the Illawarra State Recreation Reserve. Properties located east of the train line are naturally more expensive than those on the western side. Houses in Fairy Meadow, Towradgi and Corrimal are relatively good value as they are priced around the Wollongong average, are relatively close to the CBD and have their own beaches and rail stations. Bellambi is also worth a look as it’s only one station past Corrimal but about $100,000 cheaper.
The Steelworks is located south of the CBD at Port Kembla, Southern suburbs with good prospects include Figtree and Unanderra which have yields for houses and apartments of around 5%. Further south, especially to the west of Lake Illawarra, many developers are offering house and land packages however some of these lack differentiation from their peers, hindering future capital growth. The $1.5 billion Shell Cove project is expected to be completed in 2019, which will include residential property from houses to high density apartments, a town square, shopping precinct, hotel and marina with 300 berths.
3.  Relaxed coastal lifestyle, beaches and entertainment options
Locals love the relaxed Wollongong lifestyle. Beaches and shops aren’t crowded and traffic is a breeze compared to Sydney. From cinemas to golf clubs, art galleries and museums including the interactive Science Centre and Planetarium, Wollongong has it all. The city is now a destination rather than just a cheaper alternative to Sydney and its tourism industry has flourished as a result.
4.  First-class university, hospital and excellent schools
Wollongong University was ranked in the top 10 universities in Australia in 2015 and has over 30,000 students enrolled with almost 500 degrees on offer.
Wollongong Hospital has over 500 beds and recently underwent at $106 million capital works program including the construction of the Illawarra Elective Surgical Services Centre which opened in December 2015. The state-of-the-art facility houses over 100 new beds and a larger intensive care unit (ICU). It can now offer more advanced services, especially in urology and vascular surgery, without referring patients to Sydney.
There are also many well regarded schools in Wollongong including Smiths Hill High School which ranked in the top 50 NSW schools in 2015.  Top class education and hospital facilities are good drivers of local property growth.
5.  Great family and community atmosphere
Wollongong has a fantastic community atmosphere. The area is popular with families and couples, which are the most common demographic of the city. The council also puts on regular free events for locals from community walks to live music performances and beach clean-ups, which help to create a sense of community spirit. The council also provides the free ‘Gong’ shuttle bus which loop in both directions every 10 to 20 minutes from Wollongong Station to Wollongong University via Wollongong Hospital, Burelli Street and the Innovation Campus.
Compared to regional NSW, Wollongong has a higher proportion of 18 to 49 year olds and a lower proportion of other age groups. This is a bright sign for the future because this includes parents in their child bearing years and the majority of the working population.  
6.  Heart of the Illawarra region
Wollongong is the central hub for the Illawarra region and benefits from both locals and tourists from the Royal National Park in the north to Kiama, Gerringong, Nowra and Jervis Bay in the south.
There are over 80,000 jobs in Wollongong and approximately one quarter of the people that work in the city live outside the area. As well as the university and hospital, Wollongong also has all the major stores including department stores Myer, David Jones, Target and Big W.
7.  Local attractions
You can easily spend a week hiking the trails around Wollongong and exploring the beaches, coves and ocean pools dotted along the coast.
The Sublime Point walking track winds though lush coastal rainforest and takes you deep into the Illawarra escarpment.
Wollongong's Blue Mile located along Cliff Road is the best vantage point from which to absorb the beauty of the South Pacific Ocean to the east and the magnificent of the Illawarra Escarpment to the west. The newly constructed boardwalk along the harbour and foreshore is perfect for a casual walk or jog. You can even stop for a coffee or delicious lunch at one of the many seaside dining options along the way. While you’re there, stop by the historic Belmore Basin Lighthouse for a trip back in time and stop to enjoy the view.
Alternatively, the Grand Pacific Drive between Wollongong and Sydney offers great views from the car and takes in breathtaking coastal views and passes over Sea Cliff Bridge – a beautiful road suspended out from the cliff.
There are too many attractions to list here so make sure to leave plenty of time when you visit, because when it comes time to leave you will wish you didn’t have to!
 Rich Harvey is managing director, <a href="https://www.propertybuyer.com.au" target="_blank">www.propertybuyer.com.au</a>
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The seven reasons Wollongong is set to shine: Rich Harvey

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Fixed-rate mortgages accounted for more than one in every five home loans in February, despite a small drop in demand, Mortgage Choice advised.
Fixed-rate home loans accounted for 22.28% of all loans written throughout February – just 1.34 percent down from the 23.62 percent from the previous month, according to the mortgage broker’s latest national home loan approval data. Mortgage Choice based its research on new borrowers who sourced a loan through it in February.
Chief executive John Flavell said while fixed rates saw a small drop in demand throughout February, they continue to prove a popular home loan product choice for many Australians.
“We are still seeing quite a bit of volatility in the interest rate market, causing many borrowers to opt for the security of a fixed rate home loan,” he said, while adding that going forward, he wouldn’t be surprised to see demand for fixed rate products taper off.
“Given the Reserve Bank of Australia has indicated that they won’t hesitate to cut rates again if the need arises, borrowers may be encouraged to take out variable rate home loans and take full advantage of the current low interest environment,” he said.
Across the country, demand for fixed rate products was highest in New South Wales, accounting for 28.42 percent of all home loans written in February.
Queensland and South Australia were not far behind, with fixed-rate demand at  23.64 percent and 17.29 percent respectively.
Meanwhile, Victoria and Western Australia saw lower demand for fixed rates, with only 16.92 percent and 13.23 percent of all loans written in each state respectively.
Overall, variable rate home loans remained the most popular with borrowers, with 77.72 percent opting for a variable rate mortgage in February.
“The property market may still be showing signs of volatility, but the reality is that interest rates continue to sit at all-time lows. So, regardless of whether a borrower takes on a variable or fixed rate mortgage they can rest assured that they’re securing a great deal,” Flavell said.
Property Observer looked up the best fixed rate products on <a href="https://mozo.com.au/home-loans/fixed-rate" target="_blank">www.mozo.com.au</a> and found interest rates ranging from 3.79% to 4.44% on a period of one to three years.
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