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.

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<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>

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Ellen Walker

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

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GUEST OBSERVER
The minutes of the monetary policy meeting of the Reserve Bank Board provided no real surprises from the perspective of the policy outlook.
Consistent with the Governor’s statement which was released shortly after the July Board meeting the Board still points out that the Australian dollar had provided less assistance to the economy than would normally be expected and “further depreciation seemed both likely and necessary”.
The outlook for policy remains data dependent with the Board concluding that “information to be received over the period ahead on economic and financial conditions would continue to inform the Board’s assessment of the outlook and hence whether the current stance of policy remained appropriate”.
There was no real enthusiasm about the outlook for growth. Indeed, it was noted that: “early indications were that the strength in the March quarter had not carried through to the June quarter”. Investment intentions remain subdued despite non-mining business profits having increased over the past year and surveys of business conditions improving over recent months.
Of most interest was the discussion around the labour market. Recall that a key policy guideline for the Bank has been that if the economy grows below trend (generally assessed as 3%) then the unemployment rate can be expected to edge up. Over the last year or so, growth in the economy has been stuck around a sub-trend 2.5%yr yet the unemployment rate has remained steady. The Bank attributes that to slowing population growth (1.4% for the 2014 year compared to a peak 1.8% in 2012). It is argued that easing population growth is consistent with below average growth in output and a steady unemployment rate. That may mean that the Bank is reassessing its assessment of trend growth at 3-3.25%. However, the Board is not satisfied with the current level of unemployment arguing that spare capacity remains and that wages growth remains historically low (lowest year end outcomes since the early 1990s) and that unit labour costs have been little changed over four years. Such developments indicated that inflationary pressures were well contained and likely to remain so.
The discussion around housing provided no new insights. The outlook for dwelling investment remains strong while house prices continue to grow rapidly in Sydney and to a lesser extent Melbourne. At this stage there was no evidence that the regulators’ greater scrutiny of investor housing was affecting growth.
Consumption spending continues to disappoint although it has been growing at a faster pace than household income. We were surprised to note that the Banks’ liaison suggested that retail sales were likely to be flat in June, despite the expected lift from the generous tax concessions provided to small business in the Budget.
On the international front there was a slightly more positive take on the Chinese property market: “Chinese property markets had improved somewhat and residential property prices had risen for the first time in a year”. Overall growth in Australia’s major trading partners appeared to have been around average in the June quarter.
Westpac expects that the first tightening by the US Federal Reserve will occur in September. The minutes point out that market pricing suggests a later date although they also highlight commentary from Fed officials that suggests it could be a little sooner. This is far from definitive but it is not unreasonable to conclude from this commentary that the Board is also expecting an earlier move.
The Bank now provides helpful analysis of the impact of mortgage offset accounts on overall household debt. The Board points out that despite this adjustment the household debt to income ratio had increased over the year although there was no apparent discomfort with that observation.
The outlook
From my perspective the most significant insight from these minutes is the reconciliation of below trend growth and steady unemployment. On the one hand that may signal that any decision from the Bank to lower its growth forecast for 2016 below 3% (previously accepted trend) may not necessarily signal a need to cut rates if trend growth is in fact now lower due to weaker population growth. On the other hand the Board makes it clear that it is still uncomfortable with the level of the unemployment rate. Stability in that rate at a rate of growth below previously accepted trend is not enough to argue against further stimulus while spare capacity operates in the labour market.
Markets are giving only a limited chance to a rate cut in August but still persist with around a 70% chance of a move by November. We still believe that there will be insufficient evidence on the growth outlook in 2016 by then and, given a clear apparent high degree of uncertainty from the Bank, would not see the first window for a cut coming before early 2016.
From our perspective evidence around activity momentum in the second half of 2015 will not be apparent until the first half of 2016 and therefore any policy adjustment would need to wait until then.
We are currently looking for some modest improvement in growth in 2016 back towards around 3%, a level that would likely maintain steady rates. Accordingly we maintain our call that rates will remain on hold over the course of 2015 and 2016.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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RBA minutes indicate future policy will be data dependent: Bill Evans

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<img src="/images/2015/07/21/Holdencapital_banner.jpg" alt="" width="788" height="166">
 
SPONSORED POST
“A clear and concise marketing plan that will deliver the projected return”
Sounds simple…. yet we see so few doing it well and most don’t do it at all! For the most part, the key elements of a loan application are well understood by most developers and don’t vary much. Fundamentally they comprise: 
<ul>
<li>
Your financial position and credit worthiness: these are what they are and you can’t gild the lily trying to make them appear better than they are (although some try and fail);</li>
<li>
Gross realisation values and project expenses: completed product prices, land value and associated build costs are all fairly defined values. They will be determined by the market (via pre-sales and tenders on the build job) and certified by the relevant market experts (valuers and QS/engineers);</li>
<li>
The project team and past experience: again, these are relatively pre-defined components of your finance application and while you can enhance them with the introduction of appropriate expertise and testimonials, for the most part the key components have been locked in by the time the application is submitted;</li>
<li>
The capital structure and project feasibility: the combination of debt, junior debt and equity is generally driven by how much equity you have or choose to contribute to the transaction, and the project feasibility draws on the known elements of costs and end values and the time required to undertake the process. While many try and rush this part of the process, the one thing you can’t buy is time, but if you understand the market you are operating in, you can use it to your advantage!</li>
</ul>
As lenders/investors contemplating financing and/or investing in your next project, we would argue that the key element most often missing from applications we see, and the one that you should arguably have the most influence over, is explaining to us how and to whom you are going to sell the product. 
And it is not just your ability to sell the first 60% of the project in order to repay our funds that is critical, but how you will sell the last unit of stock, which represents your profit because that is what will convince us that you fully understand the deal you want us to invest in. So let’s look at what we actually want to hear/read about:
<ul>
<li>
Where will the demand for your product come from? Too many developers fail to understand the market dynamics of supply and demand and who will be the buyers; 
</li>
<li>
The second part to who, is “why” will they buy it? Why does your product meet the identified demand and how have you gone about satisfying yourself this is so? Again, too many developers follow the herd. What we as financiers/investors want to see is a considered approach based on an understanding of the market and economic factors driving the product decisions. This doesn’t have to be a costly exercise with massive reports. Quite simply, we want to see that the developer understands the markets dynamics at play in the area he is choosing to develop, and that he has created a product designed to meet the relevant drivers;
</li>
<li>
Why is yours better than the one down the road? Again, this is simply another way for you to demonstrate that you understand what the market wants and what the competition is doing. Frankly, if you don’t know the answer to these questions you should be seriously reconsidering why you are a developer.
</li>
<li>
What will they be willing to pay for it? And can you show evidence of similar product being purchased for that dollar value. Often the formal valuation report will be a precondition to settlement, and an approval will be required before it is produced. In its absence, we are looking for evidence to support the proposed Gross Realisation values in your feasibility. An ability to point to recent and relevant market sales in support of your assumptions is another way of demonstrating your professionalism;
</li>
<li>
How much will it cost to secure the sales and how will they be funded? In order to attract these buyers, marketing collateral, and an on-site sales office, sales agents salaries, marketeers fees up front and back end are all important considerations which many developers pay minimal consideration to, often because they do not fully understand the issues involved. We cannot stress enough just how important these elements of the deal are, and how your understanding of them influences credit and equity investment decisions. In particular, how you propose to fund them before and during the project construction phases are key to us fully understanding the real profitability of the project. 
</li>
</ul>
Simply put, more than anything else, if you can demonstrate a clear understanding of these marketing and sales related processes (and they are two very different beasts) you will get the attention of a lender or equity investor. Once you have our attention, it’s a much easier process to gain the approvals you are seeking. 
To find out more about which option best suits your next project, contact Dan Holden at HoldenCAPITAL on 0401 669 502 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au/" target="_blank">here</a>.
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The one simple trick to make your property project finance application stand out: Holden CAPITAL

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The retail section of the redeveloped beachside Wallis Building on Jetty Road, Glenelg has been fully leased with only three upstairs office and consulting spaces up for rent.
The retail space is split up between a tenanted ground floor of 811sqm and a first floor, 510sqm health club. 
Colliers International’s Ben Laycock said the three remaining upper level tenancies are suitable for offices and consulting rooms, range from 65sqm to 500sqm, and would suit a variety of uses including accountants, legal, corporate services, government departments and medical specialists.
 
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Redeveloped Wallis Building, Glenelg nearing full lease

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Melbourne's South East industrial property market is up nearly 60% on the previous 12 months to June, with key sales ranging between $63 million and $20 million.
According to figures released from Savills research, sales to June reached $616 million, up 75% on the five year average.
Savills’ Notting Hill office director, Lynton Williams said data for the research found 80 properties (over $2 million) sold in the 12 months to June, an 86% rise on the 43 properties sold across the South-East market in the previous 12 months and 70% up on the five year average of 47.
"The market had seen investment yields for prime industrial property in the South-East fall 50 to 100 basis points over the last twelve months to a current range of 6.75 to 7.75%," Mr Williams said.
<a href="/images/2015/07/21/Screen%20Shot%202015-07-21%20at%2012.25.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/Screen%20Shot%202015-07-21%20at%2012.25.28%20PM.png" alt="" width="981" height="632">
"Industrial yields are firming however they continue to offer some of the best returns of any asset class to investors while providing owner-occupiers with a premises with the potential to add to the business bottom line."
Savills’ Victorian Head of Research, Glenn Lampard said the 80 properties sold in the south-east comprised more than half of the 144 properties sold across Melbourne.
"The south-east was a significant contributor to the $1422 million in Victorian industrial sales in the year to June which was up from the $1305 million in the previous year and significantly up on the five year average of $950 million,’’ Mr Lampard said.
Key South-East sales included: (all agents deals) 
<ul>
<li>4 Kingsway Crt, Moorabbin - $22.6 million</li>
<li>13-15 Joel Crt, Moorabbin - $19 million </li>
<li>215 Browns Rd, Noble Park – $20.8 million</li>
<li>495 Blackburn Rd, Mt Waverley - $63 million</li>
<li>Estate One, Danendong South - $39.25 million</li>
<li>Kingston Distribution Centre, Braeside - $36.6 million </li>
</ul>
 
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Industrial sales up 60% in Melbourne's South-East

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Sydney’s three years of price growth has dragged the city up the capital city rankings for long-term capital growth, but only as high as fourth. 
Six months ago, it ranked sixth among the eight capital cities and still lags behind Perth, Melbourne and Darwin. This is for average annual growth in house prices over the past 10 years, which we survey regularly for the Capital Growth Superstars report.
Fourteen of Sydney’s Top 20 suburbs have long-term growth rates below 8% per year - not nearly good enough to make the Top 20 lists for Melbourne, Perth or Darwin.
No suburb in the vast Sydney metropolitan area has a double-digit growth rate. The best is Pemulwuy (median price $720,000) in the city’s western suburbs, with a long-term growth rate of 9.5% per year. Most of the suburbs in the Top 20 have growth rates in the 7.0% to 8.0% range.
At first glance, it appears that the Top End suburbs dominate Sydney’s Top 20 list, as 19 of the Top 20 (all except Pemulwuy) have median prices above $1 million. But, in fact, these are mostly suburbs a tier below the top end. 
In Sydney, the 15 most expensive suburbs all have median house prices above $2 million. None of the 20 most expensive suburbs (all with median prices above $1.9 million) make the Sydney’s Top 20 list for long-term capital growth. Most of them have growth rates below 5% per year.
Sydney’s Top 20 is dominated by 15 suburbs in the $1 million to $1.5 million range, which is Sydney’s second tier market.
This is a change from other surveys in the past three years, which have strongly featured the cheaper end of the Sydney metropolitan market. The growth of the past 2-3 years has elevated some of the more expensive areas.
The outstanding precinct is the Ryde LGA on the lower North Shore, which has four suburbs in the city Top 20. Ryde is the only municipality with more than two suburbs in the Top 20. Its four top suburbs are Eastwood, Ryde, Denistone East and West Ryde, all with median prices in the $1.1 million to $1.3 million range.
The prestige end of the market, suburbs with median house prices above $2 million, continues to deliver poor capital growth rates. Indeed, three of the most expensive suburbs of Sydney are included in the Bottom 20 list of suburbs with the worst growth rates in the city.
Vaucluse (median $3.4 million), Palm Beach (median $2.6 million) and Clontarf (median $2.5 million) all have growth rates of 2.1% per year or less. Clontarf’s 1.3% grow rate means it would take 55 years for property to double in value (compared to eight years for Pemulwuy, which has Sydney’s best growth rate).
There are four other million-dollar suburbs on the Bottom 20 list.
The worst precinct in Sydney for capital growth is the Sutherland LGA in the south of the metropolitan area – it has four suburbs (Burraneer, Bundeena, Lilli Pilli and Illawong) on the Bottom 20 list, all with growth rates below 2% per year.
Sydney’s Top 10 for long-term capital growth is:-
1 Pemulwuy 9.5%
2 Waitara 9.2%
3 Homebush 8.7%
4 Burwood 8.6%
5 Bondi 8.0%
6 Darlington 8.0%
7 Hurstville 7.8%
8 North Willoughby 7.8%
9 Haberfield 7.6%
10 Hurlstone Park 7.6%
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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Sydney's top 20 suburbs for growth rates: Terry Ryder

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The Reserve Bank of Australia (RBA) was invited to make a submission to the Inquiry into Home Ownership. It's well <a href="https://www.rba.gov.au/publications/submissions/inquiry-into-home-ownership/pdf/inquiry-into-home-ownership.pdf" target="_blank">worth a read</a>. A few of the key points are summarised below.
Home ownership rates
While the media headlines chose to focus almost exclusively on a brief reference to tax legislation reform towards the end of the report, generally the Reserve was fairly moderately positioned in its viewpoints.
Home ownership rates at the time of the last Census in 2011 sat at 68 per cent, which represents a moderate decline, yet also a fairly stable result over the past five decades. Before the 1970s, home ownership rates were considerably lower.
<a href="/images/2015/07/21/rba1.jpg">Click to enlarge</a>
<img src="/images/2015/07/21/rba1.jpg" alt=""> 
In particular, notes the RBA, home ownership rates in metropolitan regions were typically very low until the 1950s.
<a href="/images/2015/07/21/rba2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/rba2.jpg" alt=""> 
 
Home ownership rates in Australia today are fairly high compared to most of the world, and a little higher than those in several of the other most comparable countries.
<a href="/images/2015/07/21/rba3.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/rba3.jpg" alt=""> 
Age of home ownership
The data compiled by the RBA does show that the share of home-owning households in the 25-34 age bracket has declined over the past quarter of a century since 1980.
<a href="/images/2015/07/21/rba4.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/rba4.jpg" alt="">
In part, this has been due to higher house prices, although the RBA also notes that people are doing most things later than they used to. For example, the median age of first marriage for women in 1974 was just 20.9 years.
There have also been a number of other significant demographic shifts according to the RBA, including higher divorce rates and an increase in the number of single-parent households.
The submission spent some time musing over the complex relationship between housing affordability and home ownership, where all is not quite as clear as it initially might seem.
For example, as the above chart shows, much of the decline in home ownership rates between the ages of 25 and 34 took place in the early 1980s, before the run-up in house prices, rather than after it.
Furthermore, in a curiously reflexive manner home ownership rates can oftentimes be lower in more affordable locations, with Queensland and South Australia having the lowest home ownership rates of the Australian states. 
Another point raised by the RBA which is rarely discussed is that for some people renting makes more sense at certain points in their lives, particularly given the increased mobility of the modern labour force and the heavy transaction costs involved in buying and selling property.
The submission also spent some time looking at the composition of net immigration, including the projected surge in student arrivals. New South Wales and Victoria receive a disproportionate share of foreign students, with more than two-thirds of student migrants heading to those states (and to Sydney and Melbourne in particular).
<a href="/images/2015/07/21/students.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/students.jpg" alt="">
 
Mortgage serviceability and the deposit hurdle
Demand for housing was boosted for property in the 15 years or so to 2005 by financial deregulation and the structural shift to low interest rates, notes the RBA.
Thanks primarily low mortgage rates, initial repayments on new housing loans as a share of household disposable income are presently significantly lower than they have been, and are hovering well below the decade average.
<a href="/images/2015/07/21/rba5.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/rba5.jpg" alt=""> 
 
The flip side to this is that rising house prices may require a higher deposit. It's also worth noting that households with two incomes today clearly have a significant advantage over those with a solitary income earner.
<a href="/images/2015/07/21/rba6.jpg" target="_blank">Click to enlarge</a>
 <img src="/images/2015/07/21/rba6.jpg" alt="">
However, the RBA does point out that 20 per cent deposits are no longer a requirement for first time buyers, where a 5 or 10 per cent deposit can often suffice:
"The maximum loan-to-valuation ratio (LVR) available in the Australian mortgage market has increased noticeably over recent decades, from the 80 per cent typical in the pre-deregulation period to around 95 per cent at present. 
Equivalently, the deposit required of a first home buyer is no longer necessarily around 20 per cent of the purchase price, but rather, more often in the 5–10 per cent range.
This shift would have eased the accessibility constraint imposed by the deposit requirement more than would be apparent from a simple comparison of a fixed percentage of the median purchase price over time.”
In a discussion which is overwhelmingly dominated by generalisations it's inevitably tough to avoid generalising, but there's no doubt that housing markets close to the centre of Sydney have unsurprisingly become very expensive, with the population of the harbour city imminently set to surge past 5 million.
Though I don't follow the Melbourne market closely, I assume that inner city Melbourne presents similar dynamics.
The RBA submission implies that with a 5 per cent deposit requirement, areas further from the city are likely to present a more realistic entry point for first time buyers. 
Unfortunately many first-time buyers in Sydney are not so keen on living in the more affordable areas such as Blacktown or the Canterbury-Bankstown region.
Based on the limited sample of first-time buyers I come into contact with, many prefer to buy an investment property in a so-termed "secondary location" and rent somewhere closer to the city themselves.
"Be careful what you pray for..."
Probably the most significant part of the RBA submission for my money was the section noting that there are "no examples of large falls in nominal house prices" either in Australia or overseas without there being significant reduction in the capacity to pay (which generally means very high interest rates, a deep recession or high rates of unemployment):
"There are no examples internationally of large falls in nominal housing prices that have occurred other than through significant reduction in capacity to pay (e.g. recession and high unemployment). 
There is no mechanism to get a large and sustained level shift down in prices while a substantial fraction of the population can – safely and sustainably – service the obligations involved in paying the higher price.“
This echoes closely what housing economist Michael Oxley argued in London back in 2004. While an increase in the supply of dwellings is both necessary and desirable, this alone will not cause a material correction in house prices while the capacity for households to repay existing mortgage debt remains comfortable. 
In larger cities, where only a small percentage of the housing stock is new in any given year, this is even more so the case.
This suggests that the risks of a material housing market correction are considerably higher in smaller cities and towns where unemployment rates are elevated - or at risk of becoming so - and where the new supply of dwellings as a percentage of existing stock can be higher.
Tax legislation
While the Pavlovian response in the media headlines called for a review of "negative gearing" legislation, what the submission really appears to be hinting at is a review of the way in which tax deductions on interest repayment interact with the capital gains tax discount in order to encourage property investment.
The RBA notes that tax legislation also to some extent favours owner-occupiers since capital gains are tax free and there is no taxation on imputed rent - although there are no deduction on owner-occupier mortgage repayments in Australia.
Recent data suggests quite clearly that a greater number of Australians are leaning towards buying property as an investment rather than as a home.
<a href="/images/2015/07/21/HF3.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/HF3.jpg" alt="">
 
While unsurprisingly and perhaps reassuringly the greater share of household debt is held by those who can afford it - higher than average income earners - equally the evidence that wealthy Australians are "rorting" negative gearing through residential property as a tax shelter seems rather sketchy.
More than 90 per cent of those using negative gearing deductions are claiming deductions on only one or two investment properties - and nearly three quarters of them are claiming on just one.
As such, if the wealthy citizens of Australia are trying to rort this so-called "tax shelter" that is the prevailing tax legislation, they don't seem to be doing so very effectively.
Realistically, most genuinely wealthy Australians have better things to do with their money than rack up net rental losses through negatively gearing investments in the cottage industry that is property investment.
Noted the RBA:
"The ability to deduct legitimate expenses incurred in the course of earning income is an important principle in Australia’s taxation system, and interest payments are no exception to this. 
To the extent that negative gearing induces landlords to accept a lower rental yield than otherwise (at least while continued capital gains are expected), it may be helpful for housing affordability for tenants".
Sydney boom
Finally, the RBA submission somewhat unsuccessfully attempted to divert some attention away from the booming Sydney property market through suggesting that the ratio of house prices in Sydney to those in other capital cities is merely reverting to trend.
<a href="/images/2015/07/21/sydney.jpg" target="_blank"> Click to enlarge</a>
<img src="/images/2015/07/21/sydney.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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RBA submits on home ownership: Pete Wargent

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Putney Hill reached a big milestone earlier this month when the first stage of the Victoria Road precinct of the Frasers Property development was sold out.
Frasers Property secured some $349 million in sales, as stage 1 comprised 85 luxury freestanding houses and terraces and 448 apartments.
<img src="/images/2015/07/20/700_putney_exterior.jpg" alt="" width="580" height="352">
All were designed on the 14 hectare site by Cox Richardson Architects – "which have proven extremely popular with homebuyers," Frasers Property sales and marketing director, Paul Lowe said.
<img src="/images/2015/07/20/700_putney_bedroom.jpg" alt="" width="547" height="332">
Located 13 kilometres from the Sydney CBD, the sales results had taken place since its launch in 2011.
Each of the five apartment buildings and 85 houses within Stage 1 has sold out prior to construction completion.  
"The community’s luxury homes and apartments have been positioned within a natural bush land setting around Lardelli Park and its pond, with lifestyle benefits including the nearby recreation circle facilities,” said Mr Lowe.
“Over 50 per cent of Putney Hill is dedicated to green space – the built form integrates with the natural landscape to create a sense of harmony.
"We’ve found this unique point of difference is a very appealing prospect for homebuyers that have been looking to find something of an urban oasis, a retreat from the hustle and bustle but still within easy reach of the CBD,” Mr Lowe added.
“The sales success of Stage 1 is continuing now with the Stage 2, Morrison Road Precinct. We’ve had 15 homes sell out in EOI phase in August 2014 and our current apartment release, Canopy, is almost sold out with only 15 apartments remaining.
"As a result, we are fast tracking the next release to market – set to be another exceptional apartment development, situated at the highest point of Putney Hill commanding district, water and city views.”
<img src="/images/2015/07/20/700_putney_interior.jpg" alt="" width="550" height="334">
For more information on Putney Hill, visit <a href="https://www.putneyhill.com.au/" target="_blank">www.putneyhill.com.au</a>.
Buyers had been from first homebuyers, downsizers, young professionals families, to investors, said Mr Lowe.
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Frasers Property Putney Hill powers into stage two

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Cabarita, then Castlecrag tops the week's sales, according to CoreLogic RP Data.
The Cabarita sales <a href="/expert-insights/buying/stellar-25-price-growth-amid-see-sawing-sydney-auction-success-as-cooling-forecast-comes-for-late-winter-vendors">attracted weekend headlines</a> given its 25% annualised price growth.
The Castlecrag house, with views that stretch across Middle Harbour to the ocean, was <a href="https://www.realestateview.com.au/Real-Estate/9-the-high-tor-castlecrag/Property-Details-buy-residential-9052938" target="_blank">marketed with around $3.5 million hopes through First National</a> agent Robert Salisbury.
First National Real Estate chief executive <a href="https://firstnational.us3.list-manage.com/track/click?u=70b0db65a40ab801fb29de1fd&amp;id=a4df619b84&amp;e=77b1898574" target="_blank">Ray Ellis</a> says new research has revealed the overwhelming majority of vendors rate their experience selling their home as ‘excellent’ or ‘good’, overturning traditional perceptions about levels of satisfaction with real estate agents.   "The vast majority of real estate agents are high achievers, committed to getting the best outcome for their customers so it’s pleasing that independent research confirms the advances the industry has made’ said Mr Ellis.   ‘Within the First National Real Estate network, there’s a substantial commitment to professional development, quality assurance, and systems that improve efficiency, communication, and sales outcomes.’   The Consumer Perceptions of Real Estate Agents survey was conducted by CoreLogic and aimed to understand agents’ service standards in Australia.
 First National Real Estate was recently voted ‘Employer of Choice’ in an independent industry survey which also showed the network had the best culture as well as the happiest principals and staff throughout its 400+ office network in Australia.
Sydney sales dominated the weeklt CoreLogic RP Data sales list.
The sales ranged between three and seven bedroom houses.
 
53 Dorking Road, Cabarita, NSW, 2137, seven-bedroom house, sold at auction on July 18 by Devine Real Estate Drummoyne for $4.7 million
9 The High Tor, Castlecrag, NSW, 2068, six-bedroom house, sold at auction on July 18 by First National North Sydney for $4.05 million
52 Crows Nest Road, Waverton, NSW, 2060, five-bedroom house, sold on July 15 by Sullivan Real Estate Mosman for $3.75 million
46 Carrington Road, Waverley, NSW, 2024, five-bedroom house, sold on July 17 by Belle Property Surry Hills for $3.645 million
14 Key Court, Noosa Heads, QLD, 4567, five-bedroom house, sold on July 15 by Richardson &amp; Wrench Noosa Heads for $3.55 million
12 Monash Crescent, Clontarf, NSW, 2093, five-bedroom house, sold on July 17 by Guildea Residential for $3.305 million
27 Laburnum Street, Brighton, VIC, 3186, four-bedroom house, sold after auction on July 18 by Nick Johnstone Real Estate Brighton for $3.25 million
7 Cameron Street, Strathfield, NSW, 2135, five-bedroom house, sold at auction on July 18 by Strathfield Partners Real Estate Strathfield for $2.91 million
11 Livingstone Street, Ivanhoe, VIC, 3079, three-bedroom house, sold at auction on July 17 by Miles Real Estate Ivanhoe/Rosanna for $2.855 million
9 Hurlstone Avenue, Summer Hill, NSW, 2130, five-bedroom house, sold at auction on July 18 by Harris Tripp First National Summer Hill for $2.855 million
Source <a href="https://www.propertyvalue.com.au/" target="_blank">CoreLogic RP Data</a>
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Cabarita, then Castlecrag top the week's sales

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Omniwealth Services Pty Ltd has complied with an ASIC infringement notice, paying a $10,200 penalty after including potentially misleading claims on its website.
Omniwealth's website included a page on the advantages of investing in property within a self-managed super fund (SMSF).
<a href="https://download.asic.gov.au/media/3294769/a4463902.pdf" target="_blank">Their page</a> compared the performance of a geared property investment within a self-managed super fund to an ungeared equity investment within a self-managed super fund.
<a href="/images/2015/07/21/asic.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/asic.jpg" alt="">
The webpage was also promoted through the social media profile of Omniwealth's CEO with a statement that investing in property in a self-managed super fund has taxation, leverage and diversification advantages and included a link to the Omniwealth webpage's related article.
ASIC was concerned that the webpage did not give a balanced message about the returns, benefits and risks of investing in property in a self-managed super fund, and in particular that the uncertainty of forecasts was not made clear.
ASIC Deputy Chair Peter Kell said ASIC is determined that SMSF trustees get accurate information and are not misled by advertising, including on websites and through social media.'
As the use of social media for promoting financial products and advice services increases, it is important that financial consumers are not misled or misinformed.
ASIC encourages financial services providers using social media to regularly review their content and consider ASIC's guidance on promoting financial products and advice services in Regulatory Guide 234 Advertising financial products and advice services including credit: Good practice guidance. (<a href="https://www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-234-advertising-financial-products-and-advice-services-including-credit-good-practice-guidance/" target="_blank">RG 234</a>)
Omniwealth has removed the statements from its website and related social media profiles and has fully cooperated in responding to ASIC's concerns.
The payment of an infringement notice is not an admission of a contravention of the ASIC Act consumer protection provisions. ASIC can issue an infringement notice where it has reasonable grounds to believe a person has contravened certain consumer protection laws.
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ASIC warns on social media usage after Omniwealth SMSF infringement

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The latest capital city data relating to the average number of days it takes to sell a residential property shows that in May homes were selling at close to their fastest rate on record driven by record sales rates in Sydney and Melbourne.
Acacia Gardens in Sydney was the fastest sellling suburb for houses across Australia, according to CoreLogic RP Data's analyst Cameron Kusher.
Recent sales included a <a href="https://www.realestateview.com.au/Real-Estate/50-wilson-road-acacia-gardens/Property-Details-sold-residential-8548856" target="_blank">three bedroom brick home for $765,000</a>, set five minutes drive to Stanhope Village Centre and 10 minutes to Rouse Hill Town Centre.
<a href="/news">The median price is at a record $678,000</a> having been at $515,000 in early 2013.
The average time on market figure is measured by the difference between the initial listing date of a property for sale and the contract date.
CoreLogic RP Data notes if the days on market are short it is typically indicative of a seller’s market where homes are selling rapidly and buyers have little time to ponder a purchase decision.
When the average selling time starts to rise, buyers will typically have more scope to deliberate their decision and negotiate on the purchase price.
Short selling times will typically coincide with rising prices and long selling times will generally see less upwards price pressures.
The latest combined capital city data showed that homes were on average taking 37 days to sell. The rate of sale was close to a record low and across the two largest cities homes were selling at their fastest rate on record at 26 days in Sydney and 32 days in Melbourne. It is important to note that these figures are focussed solely on private treaty sales and don’t include properties sold at auction.
The suburb level data to April also highlights a rapid rate of sale across certain capital city suburbs.
"The chart highlights that the suburbs with the shortest days on market have much lower figures in Sydney and Melbourne relative to the remaining capital cities," he said.
'The other point to note is that in most cities it is either the more affordable of ‘middle’ priced suburbs where the rate of sale is quickest.
"It reflects the fact that those areas with the largest pool of buyers are typically going to achieve sales quicker," Cameron Kusher said.
<a href="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-07-20--01--houses-top5-capital-city-suburbs-shortest-days-on-market-April2015.jpg" target="_blank">Click to enlarge</a>
Houses | Top 5 capital city suburbs with the shortest days on market, April 2015
<img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-07-20--01--houses-top5-capital-city-suburbs-shortest-days-on-market-April2015.jpg">
 
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