Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

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?

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A three bedroom home on Sydney's Central Coast was the most affordable offering over the weekend, selling at auction for $308,000, according to the APM Price Finder weekly report.
The property, 70 Manoa Road, Halekulani is a stone's throw from the beach and features front and back yards.
It sold through Coastlink Real Estate.
The most expensive property was a four bedroom home on 1 Dangar St, Randwick. It sold for $5,150,000.
 
<a href="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%2010.53.27%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%2010.53.27%20AM.png" alt="">
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mick.cee-iDmgDDAmu8

Sydney cheapest weekend sale on Central Coast: APM

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The 117-square-metre high tech billboard sign on a wall in the heart of Melbourne's CBD sold at Burgess Rawson auction last week for $3.05 million.
Set on a wall on the corner of Flinders Street and Swanston Street above Melbourne's busiest pedestrian crossing, the digital billboard, worth $1 million, is currently rented out by an advertising company until 2039 for $375,000 a year.
The rent is set to increase ever year by CPI and every fifth year to match the market.
A rare Melbourne signage property at 7/238 Flinders Street is leased to Digital Outdoor Media (VIC) Pty Ltd, a leading Australian marketing company.
It comes with view and access agreement with adjoining property.
Burgess Rawson agent Graeme Watson was advising pre-auction of its high yield anticipation circa 10%.
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jchancellor-FAypfDUnLy

$3.05 million billboard sale at Flinders and Swanston

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On CoreLogic-RP Data's Index, prices in Melbourne and Sydney have accelerated over the past quarter to an astonishing pace, though this index probably lags. Prices are reported as up for the year, quarter...and even the day...for all capital cities in the index.
<a href="/images/2015/08/12/RPD%20Sea%20of%20GReen.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/12/RPD%20Sea%20of%20GReen.jpg" alt="">
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

A new high for Australian home values: Pete Wargent

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There was no surprise at the Reserve Bank meeting this month, with a decision of no change to the cash rate pointing to a continued period of content within the property market.
Experts, however are divided on whether the cash rate’s next movement will be up or down, and while no-one can be certain as to monetary policy, it’s pivotal that Aussies are certain they’re accessing the best <a href="https://www.finder.com.au/home-loans" target="_blank">home loan deal</a> on the market for their situation. Here are the lowest variable and three-year fixed rates on finder.com.au:
finder.com.au’s lowest variable rate home loans
<ul>
<li>
<a href="https://www.finder.com.au/mortgage-house-pure-and-simple" target="_blank">Mortgage House Pure and Simple</a>: 3.99%
</li>
</ul>
If you’ve saved up 20 percent of your loan and don’t need to borrow more than $500,000, this loan can offer you the lowest variable rate on <a href="https://www.finder.com.au" target="_blank">finder.com.au</a>. It also allows for unlimited redraws and no ongoing or application fees. Keep in mind though that the lending criteria is already relatively restrictive, and you also won’t have access to an offset account, so choose wisely.
<ul>
<li>
<a href="https://www.finder.com.au/state-custodians-mortgage-company-peak-performance-offset-home-loan" target="_blank">State Custodians Mortgage Company Peak Performance Offset</a>: 3.99%
</li>
</ul>
This low rate loan is not for those who’re already stretching their initial budget, as it comes with a $275 valuation and $299 service fee – the latter being an annual expense. If you’re okay with this, you’ll certainly be okay with the unlimited additional repayments and redraw options, 100% offset account and ability to borrow up to 95% LVR. 
<ul>
<li>
<a href="https://www.finder.com.au/loans-com-au-dream-essentials-home-loan" target="_blank">loans.com.au Dream Essentials</a>: 4.02%
</li>
</ul>
This is another loan that can accommodate up to 80 percent of the total property value, so again it’s important to have a decent financial reserve before you buy. You also won’t have access to a 100% offset, so money management in this scenario is essential. Should you choose to accept this mission, you’ll have no annual, application or legal fees to get through and will have access to a considerable contender in the low variable rates space.
finder.com.au’s lowest 3-year fixed rate home loans
<ul>
<li>
<a href="https://www.finder.com.au/mortgage-house-fixed-and-pure-home-loan" target="_blank">Mortgage House Fixed and Pure</a>: 3.94%
</li>
</ul>
If you like the idea of no application or ongoing service fees, a 95% loan-to-value ratio and up to $20,000 worth of additional repayments a year, this loan could be a suitable addition to your financial landscape. You would need to accommodate for not having a 100% offset account, and this loan will also has a $500 discharge fee.
<ul>
<li>
<a href="https://www.finder.com.au/bank-of-queensland-fixed-rate-home-loan#10118" target="_blank">Bank Of Queensland</a>: 3.99%
</li>
</ul>
You will need to be quick – this low rate is only applicable until the end of September. If you can jump into the property game before then, this loan can also offer you a 100% offset and up to 95% LVR, which will both give your budget room to move. Provided you’re fine with paying a $120 annual fee, and a once-off $300 application and $150 settlement fee, which may add up to be a considerable expense for some.
<ul>
<li>
<a href="https://www.finder.com.au/newcastle-permanent-fixed-rate-home-loan#9410" target="_blank">Newcastle Permanent</a>: 4.09%
</li>
</ul>
This loan offers both a low rate and no ongoing service fees or initial application fee, as well as extra repayment options – when paired together these can make for powerful savings. Don’t let the power go to your head, however, as you won’t be redrawing those funds during the fixed term of your loan and you won’t have access to a 100% offset account, so your money moves will definitely have to be strategic – because once you’ve locked it in, it’s going to be near impossible to access it again.
MICHELLE HUTCHISON is spokesperson for comparison website <a href="https://finder.com.au/" target="_blank">finder.com.au</a>.
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The lowest variable and three-year fixed rates on finder.com.au: Michelle Hutchison

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Property investors have enjoyed a remarkable period of generational lows for interest rates, Melbourne buyers advocate Richard Wakelin says.
"One that will not remain indefinitely," he told The Australian Financial Review.
He suggests the recent move to raise rates was delivered with plenty of guidance from regulators that investor growth must slow to avoid trouble later on.
"Yet some participants' sense of entitlement is so ingrained that even a small and well-explained tweak up in rates causes apoplexy.
"I'm not uncomfortable that rates are now higher for investors than for home buyers. 
"Traditionally, it was always the case that investors paid more than home owners because, all things being equal, an investor is the higher risk. 
"If you're in financial trouble you'll make more of an effort to hang on to the family home than your investment property."
Richard Wakelin says one of the biggest risks in a property market sitting atop strong sustained capital growth "was a loss of discernment."
"Good judgment is put to one side and every property looks like a winner.
"A rising tide lifts all boats, and all that. It is a time when we see the brazen spruikers and con artists emerge, pushing up prices for junk assets.
"It only takes a mild softening in the wider market for the value of these peripheral properties to collapse, causing financial havoc for many families."
RICHARD WAKELIN is the director and founder of <a href="https://wakelin.com.au/" target="_blank">Wakelin Property Advisory</a>.
Richard is hosting a webinar on how to prepare to sell your home or investment property this spring at 8pm Wednesday, August 12. You can sign up <a href="https://wakelin.com.au/webinar" target="_blank">here</a>.
 
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Investor growth must slow to avoid trouble later on: Richard Wakelin

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GUEST OBSERVATION
The current parliamentary inquiry into home ownership is in the midst of public hearings, questioning, among other things, the decline in home ownership among younger Australians.
This, however, is not a recent issue. For a long time young people have found it difficult to purchase their first home. Home ownership rates for households aged 25-34 began to decline close to 40 years ago; declines for those aged 35-44 followed a decade later.
Declines have been most dramatic among low to moderate income households; only younger households in the top quintile of the household income distribution have been (relatively) protected.
<a href="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%209.15.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%209.15.03%20AM.png" alt="" width="850" height="506">
Declines have been most dramatic among low to moderate income households; only younger households in the top quintile of the household income distribution have been (relatively) protected.
<a href="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%209.18.29%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/12/Screen%20Shot%202015-08-12%20at%209.18.29%20AM.png" alt=""> 
 
<h2>A 40-year problem</h2>
These declines date back to social, demographic and economic changes that began up to 40 years ago. Social change in the 1970s saw the number of both single adult and dual income households increase. This resulted in increasing disparities in household incomes. The increasing numbers of high income households increased housing demand and triggered pressures on the housing market that began to squeeze out lower income households.
These pressures have been maintained by ongoing household income inequality, which has been <a href="https://theconversation.com/senate-report-shows-why-australia-needs-to-talk-about-inequality-36121">increasing in Australia since the mid-1980s</a>, compounded by growing earnings inequality and the impacts of uneven economic growth.
The squeeze on lower income households was intensified during the 1980s by high inflation and high nominal interest rates that limited borrowing capacity and created significant deposit gaps for those already facing income constraints.
From the 1990s, younger households were additionally constrained by the burden of education debt and deterred from home ownership by the implementation of compulsory superannuation which slowed down earnings growth.
As inflation and nominal interest rates fell throughout the 1990s, financial liberalisation contributed to an increase in the availability and reduction in the cost of housing finance. This, along with associated changes in lending criteria, disproportionately benefited high income households, most of whom were already established home owners.
The willingness of established households to invest in both owner-occupied housing and investor housing was fuelled by changes in our tax system that made housing an extremely attractive investment. Tax benefits for owner-occupiers increased in 1985 when owner-occupied housing was exempted from the newly introduced capital gains tax. For housing investors (whether negatively or positively geared), benefits arose from the asymmetric treatment of income and expense. These tax benefits increased in 1999 for debt financed investors prepared to speculate on rising real house prices.
Demand pressures from established households in the past two decades (readily seen in <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5609.0">housing finance data</a>) have reinforced ongoing pressures on urban land markets from population growth.
Declines in agriculture and manufacturing and the rise of the services sector have led to an increasingly urbanised population with jobs being concentrated in the centres of our capital cities. Increased demand has contributed to an increase in, and a steepening of, land price gradients in these cities. This is partly a result of the innate shortage of centrally located land in areas where job concentration is greatest, partly in response to state government strategic policies encouraging infill development, and partly in response to the inadequate investment in, and cost of, transport infrastructure.
In other words, increasing land values in urban locations are an inevitable outcome of the combined impact of:
<ul>
<li>the pressure of income and population growth;</li>
<li>structural change which results in increasing urbanisation and concentration of (knowledge-based) employment in its central locations</li>
<li>a failure to invest in rapid-transit transport infrastructure that facilitates cost-effective access to employment and essential services.</li>
</ul>
Quick fix solutions to the housing affordability problems that have led to declining home ownership rates often look to land release and urban planning policies. These might ease supply shortages driven by a growing population, but they are less likely to work when price growth is coming from increasing demand for bigger and better located dwellings. This demand is driven both by economic growth and by increasing inequality.
Higher housing prices arising from demand and supply pressures have had a number of effects. They have increased the wealth of established home owners and provided a platform for further increases in demand for housing, reflected in upgrading of existing homes, and in demand for second homes and investment dwellings. In so doing, they have excluded a growing proportion of younger households, and particularly low to moderate income households, from home-ownership. Some of this group can’t afford to buy, others would rather rent in a higher cost location closer to job opportunities than live on the outskirts of our metropolitan regions where housing may be more affordable.
<h2>The underlying issues</h2>
Short term cyclical factors are not enough to explain declining rates of home ownership amongst younger households. Underlying structural factors and changing institutional arrangements have been critical.
These include:
<ul>
<li>our system of housing finance that makes it relatively easier for better-off households to accumulate housing assets through debt finance;</li>
<li>our income taxation system that provides these households with an incentive to treat property as a means of accumulating wealth ahead of its more essential role as providing shelter; and</li>
<li>our system of property rights that ensures those who do own land are able to act as rent-seekers by expropriating for their own the increase in land values not of their own making.</li>
</ul>
These institutional arrangements reinforce existing housing and wealth inequalities.
If the decline in home ownership among younger households is not reversed, then ultimately Australia’s aggregate home ownership rate will fall. Whether this matters is an entirely different question. But it does suggest it’s time policy makers recognise the underlying structural drivers of current housing outcomes and consider which households will benefit from new policies that support property ownership.
Judith Yates is honorary associate professor at the University of Sydney and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/judith-yates-148000" target="_blank">here</a>.
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What’s really keeping young and first home buyers out of the housing market? Judith Yates

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An Emerald Hill bluestone terrace built in 1859 has been listed for sale.
It was once owned by William Thistlethwaite, a former mayor of South Melbourne.
Just two bedrooms at <a href="https://www.realestate.com.au/property-house-vic-south+melbourne-120084013">7 Cecil Place, South Melbourne</a> plus sitting room and living room, and kitchen to the courtyard.
The property is listed at $950,000 through Marshall White’s Adrian Wood after failing to sell at recent auction.
It last sold at $160,000 in 1989.
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Emerald Hill bluestone terrace offering

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Compass Housing Services, a community-housing group currently managing 3,500 properties housing 5,700 tenants in NSW, as well as another 850 properties in Queensland, stated in its submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership in Australia, that home ownership will soon only be available for those in the top tax bracket. 
"In the case of Sydney, where already stretched prices have increased by 33% in the last three years alone and the median house prices is fast approaching the million dollar mark, it would be fair to say we are already there. 
"The percentage of Australians aged 25-34 who own their homes (either outright or with a mortgage) has dropped by 17% over the last 25 years. The 35-44 year age bracket has also seen a big fall with just 62% now counting themselves as home owners compared with more than 75% in the early 1980s."
Another change has been the amount of debt households are taking on in order to buy a property. 
"Between 1987 and 2013, Australia’s household debt per person has increased from under $20,000 per person to almost $80,000 per person with more than three quarters of that debt tied up in the domestic property market, an increase of 50% since 1990. 
"A lack of affordability for first home buyers can place additional strain on the rental market which in turn can increase demand on social housing or homelessness services. 
"To plug the affordability gap between social housing and the private rental market, most states offer alternative, less intensive forms of housing assistance. In most states, low-income households struggling to pull together the bond for a rental property can access interest free loans from the state government. 
"It is estimated around 20% of all households in Queensland’s rental market rely one of these loans in order to secure their tenancy."
Tax Policy Impact
"The Australian Council of Social Service has reported more than half of geared investors are in the top 10% of the income scale and 30% earn more than half a million dollars a year. 
"Similarly, the Australia Institute has reported that 55% of the benefits from capital gains tax (CGT) discounts and negative gearing flow to the top 10% of income earners while households in the lower half of the income range receive only about 20 per cent of negative gearing benefits and less than 8% of capital gains benefits.
"If this data is correct, it would seem that while advantageous to certain sections of the community, the current tax treatments have played a major role in concentrating home ownership in the hands of fewer Australians."
Compass Housing Services believes that the lack of affordability is partially a consequence of "well- intentioned tax concessions" and the current tax policies favour investors over first home buyers.
"Data from the Australian Bureau of Statistics indicates less than 10 per cent of home loans to investors are used to construct new housing with the overwhelming majority simply used to purchase established dwellings. 
"Compass urges that a due and proper independent assessment of the current tax system that enables access to benefits to more younger Australians, while boosting supply of new dwellings should be conducted and the government respond accordingly. 
"Compass recommends the reintroduction of a revamped National Rental Affordability Scheme with more stringent controls on eligibility to ensure the benefits flow to those for whom they’re intended. 
"Compass recommends the committee consider legislative options to encourage greater superannuation industry investment in new residential property or affordable housing schemes. 
Compass Housing Services named three key benefits of greater outsourcing of social housing provision.
Additional human services and tenant development opportunities 
"Would allow community housing providers like Compass to help the movement of some social housing tenants into the private rental sector and home ownership, thereby releasing old social housing stock for redevelopment or sale with monies raised reinvested in the provision of greater numbers of new and more appropriate dwellings."
Stock transfer 
"Secondly, following UK experience, we know that significant stock transfer creates the opportunity for organisations to become major agents in housing supply. As capacity and confidence develops, a wider range of human and support services emerge to support tenants. 
"Additionally, favourable borrowing conditions for social housing, not-for-profit organisations encourage entry into direct building of social housing as well as the supply of local infrastructure including schools and medical facilities." 
Innovative funding arrangements for community-housing providers 
"Finally, community-housing providers are able to enter innovative funding arrangements with private sector partners, often through the creation of special purpose vehicles (SPVs). 
"SPVs can bring important capital sources to the social housing market and involve major home building agents within a framework in which the community provider manages tenancies and provides human services and tenant support systems."
 
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Home ownership may be limited to the top tax bracket: Compass Housing Services

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GUEST OBSERVATION
The Submission to the Standing Committee on Economics Inquiry into Home Ownership by Judith Yates Honorary Associate Professor in Economics, University of Sydney, has documented the current rates of, and widespread declines in, home ownership by age and by household income. 
It explains the long-term decline in home ownership amongst younger households in terms of underlying structural trends in the Australian economy, arising from arise from social and demographic factors and from economic and institutional factors. 
In relation to the latter, it highlights the impact of demand from established households both as owner-occupiers and as investors in light of growing income inequality. 
It points, in particular, to the role of the system of housing finance that makes it relatively easier for better-off households to accumulate housing assets through debt finance; the income taxation system that provides them with an incentive to treat property as a means of accumulating wealth ahead of its more essential role as providing shelter; and the system of property rights in Australia that ensures that those who do own land are able to act as rent-seekers by expropriate for their own the increase in land values not of their own making. 
It suggests that increasing land values in urban locations are an inevitable outcome of the combined impact of the pressure of income and population growth; structural change which results in increasing urbanization and concentration of (knowledgebased) employment in its central locations a failure to invest in a rapid-transit transport infrastructure that facilitates cost-effective access to employment and essential services. 
It concludes that that attention needs to be paid to the underlying structural factors that have contributed to declining home ownership if trends over the past 50 years or so are to be reversed. Land-release and urban planning policies might ameliorate supply shortages when pressures on dwelling prices arise from increasing demand driven by population (or, more specifically, household) growth. 
They are less likely to be effective when pressures on dwelling prices arise from increasing demand for bigger and better located dwellings driven by economic growth and/or increasing inequality. In this instance, policies are needed to reduce demand from existing households. 
Although Australia’s home ownership rate has remained relatively stable at around 70% for half a century, much of this stability has arisen because of demographic change with an increase in the proportion of older households with a high incidence of home ownership offsetting a decline in the incidence of home ownership among households who have a reference person less than 45 years old. 
That this decline was already being observed in the late 1980s and has continued at a relatively steady rate since then suggests structural rather than cyclical drivers are critical.
This submission focuses on these trends and on the factors that explain declining rates amongst younger households. 
Home ownership in Australia expanded rapidly in the 1950s from a post-war level of 47% to reach its current level of around 70% by 1961, with much of its post war growth to economic and demographic drivers of the time.3 Home ownership was promoted as a means of solving housing shortages and substandard rental accommodation prior to the Second World War and has been underpinned by both explicit and implicit government policies in the post war period. 
These have included direct subsidies (such as grants to first time home purchasers and subsidized mortgage interest rates) and indirect subsidies (such as exemptions from federal income taxes and state land taxes and concessions on stamp duties). A long standing ideological commitment to home ownership added to these drivers.
Aggregate home ownership in Australia has been relatively stable for the past 50 years since reaching its current level of around 70 per cent in the 1960s. 
Home ownership rates for those in the 25-34 year old group peaked in the mid-1970s and have declined more or less steadily since then, falling by 9 percentage points from 60 per cent to 51 per cent between 1976 and 2001 and by a further 4 percentage points to 47 per cent to 2011 – in other words, by 13 percentage points in 35 years.
The decline for those in the 35-44 year old group followed in the mid-1980s as the earlier cohort aged, falling from 74 per cent in 1986 to 64 per cent in 2011. 
Many studies have shown that age, marital status and family composition are key demographic determinants of home ownership.6 They also have shown that home ownership is significantly constrained by economic factors, such as household income (both current and permanent) and wealth and affected by economic factors (such as housing subsidies and taxation) that affect the relative cost of owning vis a vis renting.
In broad terms, these tenure choice studies show that, for the past 50 years or so, home ownership rates in Australia have been higher for older than for younger households, higher for couples than for single person households and, for each of these household types in each age group, higher for households with children than without children. On an age specific basis, home ownership rates are higher for higher income and higher wealth households. At least since the 1990s, the declines in home ownership rates for younger households have been greatest for lower income households. 
Changes in these socio-demographic and economic drivers over time explain the relative stability of the aggregate home ownership rate in light of declining rates for younger households. In other words, it is the ageing of the population that has been the dominant factor that has kept Australia’s aggregate home ownership rate stable at around 70%.
More complex explanations are required to explain the declining rates for younger households. 
Explaining the decline in home ownership rates amongst younger households in Australia can be broadly categorised into demand factors driven by social and demographic or institutional and economic factors and supply factors that affect the structure of Australia’s urban housing markets.
Socio-demographic factors appear to be the primary drivers of decline from the mid-1970s through to the 1980s with economic and market structure factors and being the primary reasons for this decline being sustained through the 1990s and 2000s. 
Key socio-economic drivers that affected the home ownership rates of younger households from the 1970s arise through changes in household composition of these households and to a growth in single person and single parent households.
These include: An increase in the proportion of two income households 
A decline in marriage rates and an increase in divorce and separation 
A decline in fertility rates
An increasing share of migrants in population growth 
The combined effect of these changes contributed to a relative increase in the proportion of single person and childless couple households amongst those in the 25-44 year age group with lower home ownership propensities than other household types. 
These social changes had two significant but offsetting economic impacts. An increase in the number of two earner households resulted in a move away from the traditional model of a single (male) breadwinner family household and increased the number of potential first home buyers who were higher income households. 
Changes in social attitudes, however, also meant many younger people deferred partnering, and many who had been partnered, divorced or separated which increased the number of single adult households, many of whom had relatively low incomes. 
The combined effect of these changes contributed to changes in income distribution and to market pressures that impeded access for lower income households. Because of the social changes that were occurring, there was some disagreement over whether the decline in home ownership observed from the mid-1970s until the 1990s was simply a temporary deferral or whether it was a result of economic changes that increasingly constrained access so that the decline would more likely be permanent.
This is an edited transcript.
Judith Yates is honorary associate professor in economics, University of Sydney.
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Judith Yates' submission to the Standing Committee on Economics Inquiry into Home Ownership

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Two new properties have appeared on SQM Research's top ten most discounted properties nationwide list - one in South Australia and the other in Queensland.
A four bedroom with ocean views at 2 Joy Street in Encounter Bay, South Australia is currently on the market for between $425,000-$450,000and  was first listed with an asking price of between $650,000 and $695,000 in July 2014 (below).
<img src="/images/2015/08/11/sa.jpg" alt="">
 
The second property, a waterfront three bedroom unit overlooking Cylinder Beach at Point Lookout, Queensland, has been on the market since 2013 and, according to SQM, appears just above what potential investors will pay for the size and area.
3/118 Mooloomba Road (below) has been on the market for a total of 938 days and since first listed has had the price deducted by a total of 32%, or $565,000.
<img src="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%205.28.05%20PM.png" alt="" width="814" height="541">
The unit has a verandah with uninterrupted beachfront views, a master bedroom with ensuite and walk-in robe and is in a highly popular holiday rental area.
<a href="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%205.26.13%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%205.26.13%20PM.png" alt="">
 
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