Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

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]

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 

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>

&nbsp;

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?

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

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AMP Capital's Shane Oliver expects the RBA to act on its easing bias and cut the cash rate to 2% (from 2.25%) at its May meeting today.
"But it’s another very close call," he suggests.
"The case for another cut remains strong: the outlook for business investment remains weak, commodity prices are softer than expected, the Australian dollar remains too high and is at risk of rebounding further and inflation is benign. 
"However, the RBA may continue to fret about housing leverage and Sydney home price gains and the bounce in the iron ore price over the last few weeks has eased the pressure on the RBA a bit. 
"So while our base case is for a cut, another month on hold would not be surprising."
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AMP Capital's Shane Oliver won't be surprised if RBA holds off another cut in May

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Greville Pabst, CEO and director of <a href="https://www.wbpproperty.com/" target="_blank">WBP Property Group</a> and a judge on The Block Triple Threat, answered some of Property Observer's questions on the state of the current state of the market.
<ul>
<li>
How would you describe the auction market? The auction market is highly competitive. Today you can expect anywhere between four and six bidders at an auction in Melbourne, particularly in popular inner suburbs. This has meant strong growth for quality properties. This year we’ve also seen softening in the western suburbs with both auction volumes and clearance rates dropping slightly across the region. Standout areas for performance are the eastern and south-eastern suburbs. Total transaction volumes are down by about 10% when compared with this same time last year, however, as a percentage of overall transactions auctions have increased slightly, accompanied by an increase in clearance rates - Melbourne averaging 76% this year compared with 72% at the same time last year.</li>
</ul>
<ul>
<li>
Is the private treaty market likewise? Transaction volumes demonstrate there is greater confidence buying at auction this year, which may prompted by record low interest rates and strong competition among bidders. But, the key take away is that fewer properties are passing in at auction. At this time the clearance rate for auctions is at 76.3% - this time last year it was at 71.6%.</li>
</ul>
<ul>
<li>
What tips would you give home buyers? Given current levels of competition it’s important buyers don't make hasty decisions. The key to securing well-performing property is research, and, if needed, getting independent expert advice.  It’s also important to consider that whether buying a home or investment property, a sound selection now will have a significant impact on your personal wealth well into the future. Securing a property with high capital growth potential is crucial.</li>
</ul>
<ul>
<li>
What tips would you give investors about the timing of their buying in the 2015 market? When asked this question I always recall the proverb, “'The best time to plant a tree is 20 years ago, the second best time is now.” In truth, there’s no right or wrong time to buy a property. The best time is when you’re financially ready.  The crucial factor with any property investment is the amount of time in the market – that is, unlike with some shares, property growth is realised over time, not overnight. The high cost of transacting property means investment of this kind is typically a long-term commitment. </li>
</ul>
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Melbourne auction market highly competitive: Q&A with WBP's Greville Pabst

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GUEST OBSERVATION
<ol>
<li>Understand that in most industries and businesses, the 80/20 rule is alive and well in real estate. 20% of the agents do all the business and 80% just make up the numbers. After all, they all wear designer suits, drive European cars and speak in the same confident way, so how on earth do you work out which agent can actually deliver on the sales pitch? The answer will come as no surprise by now: research, research, research. 
</li>
<li>As a consumer you have to understand that eight out of every 10 real estate agents will be average. Scary, isn’t it? For most people, their home is their biggest asset and  therefore selling their property is the most important negotiation they will ever be involved with. The difference between a good agent, and someone just making up the numbers, will therefore have a huge impact on your bottom line. 
</li>
<li>Be very careful of the real estate agent that tells you the highest price and gives you the lowest commission! In almost all instances, the highest market opinion of value and the lowest commission rate = a recipe for disaster. Once again it’s a case of using your head, not your heart, when it comes to selecting an agent, although you shouldn’t ignore your intuition. You will have a much faster, better and less stressful selling experience if you select the right agent the first time around.</li>
</ol>
<img src="/images/2015/05/01/3dbook-smaller-again.png" alt="" style="float: right;">
Robert Klaric the CEO and founder of <a href="https://www.thepropertyexpert.com.au/" target="_blank">The Property Expert International</a>, a Property Advocate and Advisor.
This is an excerpt from Robert s book '<a href="https://www.thepropertyexpert.com.au/author/secrets-of-the-property-expert" target="_blank">Secrets of the Property Expert’</a>.
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Three tips to help choose the best real estate agent: Robert Klaric

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Channel 7's renovation reality TV show House Rules begins its latest season tonight.
House Rules and Better Homes and Gardens host Johanna Griggs doesn't just look at good renovations for the screen – she also runs a construction company with her husband, builder Todd Huggins. Griggs tells Property Observer about her top tips for DIY renovators:
<ol>
<li>
Ask yourself: How do you want your home to feel? Some people can get distracted by paint swatches, measurements and floor plans. But Griggs says it's important to understand what you want from your renovation before making any major decisions. "A lot of people can look at plans and not have an idea of how it's going to look", said Griggs. Although it may seem obvious, renovators should understand how they want to live in their home. "The first the we ask people is: How do they want their home to feel? "How are they going to use their home?" This includes considering how the house will work when it's full of people, if you intend to entertain. Griggs noted her own teenage boys, and the importance of designing a home where each family member has enough space and privacy. 
</li>
<li>
Think about how your home interacts with outside spaces Don't just get carried away with matching interiors – think about your entire property. "I find that one of the most important things when you design a home," said Griggs. "What do you want to see when you look out the windows, and what do you not want to see?" She encourages renovators and home builders to consider how their home will interact with its site and surrounding environment. 
</li>
<li>
Make a mood board "Most people have a thousands of photos of their kids on their phones," said Griggs. "I have lighting channels and toilet roll holder photos." To help clarify your ideas, Griggs recommends making a moodboard or creating another system to lay out your ideas visually. "I think it's really important that if you love something, you take a photo of it," she said. Cutting out images from magazines and laying them out in front of yourself can help you decide what you like and don't like, says Griggs. For those who prefer the digital route, there are plenty of sites like Instagram or Pinterest where you can collect ideas. The process of mood boarding is particularly useful for those who aren't used to making decisions about interior details, Griggs said.</li>
</ol>
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 House Rules: Johanna Griggs' top three renovation tips

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The Australian Bureau of Statistics (ABS) released building approvals data for March 2015 yesterday. 
The data showed that over the month there were 19,419 new dwelling approvals which was a record high and 2.8% higher than levels in February. The data highlights that approvals and subsequently new housing construction is continuing to surge across the country.
<img class="aligncenter size-full wp-image-4655" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-1.jpg" alt="Chart 1" width="500" height="158">
In March there were more units (9,767) approved for construction than there were houses (9,651). Although this may not sound like a big deal, this has only occurred on two previous occasions. 
House approvals were 0.5% higher over the month and are 1.3% higher year on year. In comparison, unit approvals rose 5.3% over the month and are 57.9% higher year on year. Keep in mind that the number of unit approvals tend to be more volatile than houses however, the surge coupled by the fact that there were more approvals for units than houses shows a growing tendency toward new unit construction.
<img class="aligncenter size-full wp-image-4656" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-2.jpg" alt="Chart 2" width="500" height="159">
Over the past 12 months, there have been a record high 210,484 dwellings approved for construction which is 11.2% higher than at the same time last year. Over the period, there have been 114,874 houses approved and 95,608 units. Although house approvals outnumber unit approvals on an annual basis, unit approvals accounted for a record high 45.4% of all dwelling approvals over the past year.
<img class="aligncenter size-full wp-image-4657" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-3.jpg" alt="Chart 3" width="500" height="180">
While there is a growing prominence of units approvals, so too is there a growing prominence of these approvals being for high density stock. Over the 12 months to March 2015, a record high 60.5% of all unit approvals were for units in a block of four or more storeys. To put this surge into perspective, 10 years ago just 39.7% of unit approvals were for units in these higher density buildings. You only have to drive through inner city areas of Sydney, Melbourne or Brisbane to see that there is a current shift towards much higher density living and today’s data shows there is plenty more in the pipeline.
<img class="aligncenter size-full wp-image-4658" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-4.jpg" alt="Chart 4" width="500" height="158">
The capital city data isn’t seasonally-adjusted so it doesn’t line-up with the national data however, over the month there were 15,349 dwellings approved for construction across the combined capital cities. Like the national figures, this was also a record high number of approvals following a 9.7% monthly increase and a 33.5% year on year increase.
<img class="aligncenter size-full wp-image-4659" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-5.jpg" alt="Chart 5" width="500" height="159">
Looking at the split between capital city house and unit approvals there were 6,709 houses and 8,640 units approved for construction over the month. House approvals were 7.5% higher over the month and 9.0% higher year on year. Unit approvals increased by 11.5% over the month and by 61.8% over the year. Although total approvals were at a record high neither houses or units recorded their highest month for approvals.
Across the capital cities, dwelling approvals increased over the month in all capital except for Melbourne and Darwin. year on year approvals are higher in each capital city except for Canberra.
<img class="aligncenter size-full wp-image-4660" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-6.jpg" alt="Chart 6" width="500" height="157">
Looking at annual approvals across the capital cities, annual approvals are at a record high in Sydney, Melbourne and Brisbane as well as being just shy of a record high in Perth. Hobart (40.4%), Melbourne (25.5%), Brisbane (25.1%) and Darwin (12.1%) have recorded the greatest increases in approvals over the year. Dwelling approvals have fallen -36.8% in Canberra over the year, while increases in Sydney (4.9%), Adelaide (10.3%) and Perth (11.4%) have been relatively moderate.
<img class="aligncenter size-full wp-image-4661" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-7.jpg" alt="Chart 7" width="500" height="156">
Annual house approvals were higher in March 2015 than a year earlier in all cities except for Adelaide (-1.3%) and Canberra (-9.0%). Across the remaining cities the annual increases in house approvals were recorded at: 16.5% in Sydney, 14.6% in Melbourne, 29.6% in Brisbane 6.1% in Perth, 54.0% in Hobart and 6.9% in Darwin. What is noticeable from the above chart is that Melbourne (the 2nd largest city) has approved substantially more houses (22,878) than Sydney (the largest city) (13,776). Similarly, Perth (the 4th largest city) has approved far more houses (19,783) than both Sydney and Brisbane (the 3rd largest city) (10,826).
<img class="aligncenter size-full wp-image-4662" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-8.jpg" alt="Chart 8" width="500" height="156">
While annual capital city unit approvals have risen by 15.2% over the year, across the capital cities unit approvals were lower over the year in Sydney (-0.2%), Hobart (-6.9%) and Canberra (-49.9%). Elsewhere the annual increases in unit approvals have been recorded at: 35.2% in Melbourne, 21.7% in Brisbane, 36.5% in Adelaide, 28.4% in Perth and 16.6% in Darwin.
<img class="aligncenter size-full wp-image-4663" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-9.jpg" alt="Chart 9" width="500" height="181">
When we look at the annual approvals picture, more than half of all approvals over the year were for units in Sydney (66.2%), Melbourne (56.9%), Brisbane (58.6%), Darwin (56.2%) and Canberra (53.9%). Over the past 12 months, a record high 52.7% of all capital city dwelling approvals were for units. Unit approvals have accounted for more than half of all approvals in Sydney, Darwin and Canberra for many years however, it is a relatively new phenomena in Melbourne and Brisbane. 
In our opinion this raises some concerns given the rapid ramp-up in unit approvals in these two cities. Although lifestyle preferences are changing we have some concerns about an oversupply of units in these markets. Especially when you consider that unit stock is generally favoured by investors and rents are already growing at their slowest pace in a decade. 
Furthermore, capital growth for units is lower than that for houses across four of the five cities in which there have been more unit approvals than house approvals over the past year, the exception is Darwin. Value growth for units over the year has been particularly sluggish in comparison to house value growth in Melbourne and Brisbane.
The data is encouraging; there remains a large volume of new house and unit developments being approved for construction. Much of the new unit stock is high density which by nature means most of it is taking place in inner city areas. 
Although there is a strong pipeline of construction we continue to have concerns of a new unit oversupply in certain areas, particularly in inner city Melbourne and Brisbane. There are some concerns a record-high level of approvals, should they ultimately end up constructed, should alleviate some of the housing shortages and contribute to a slowing of the escalation in home values. What is somewhat worrying is that the Sydney market, where home values are escalating rapidly on the back of low overall housing supply, is not experiencing as significant a ramp-up of approvals as we are experiencing across most other capital cities. 
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Dwelling approvals hit new record highs in March 2015: Cameron Kusher

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The universal distrust of politicians has been confirmed, yet again, by the Roy Morgan survey ranking the professions on ethics and honesty.
Only 13% give a positive rating to federal politicians, who are near the bottom of the poll with the people who sell real estate, advertising and cars.
Election outcomes increasingly reflect the degree to which the public is fed up with politicians. Few incumbents survive elections these days, with Victoria’s Denis Napthine dumped and Queensland’s Campbell Newman converting a record majority into a stunning defeat. The recent New South Wales poll was a rare exception.
Politicians provide examples daily of why people detest them: broken promises, relentless spin, refusal to give a plain answer to a straight question, the strident overblown language, the brattish behaviour in the Canberra kindergarten known as parliament.
To put it in pub terminology, they’re the people who p--- on us and tell us it’s raining.
Tony Abbott managed to encapsulate everything that’s despised about politicians with his recent pronouncement on foreign investors. The Prime Minister, if we can believe him, proposes to lock up people for buying houses. He says this will make homes cheaper and the Great Australian Dream more attainable.
Now, I know Abbott isn’t the sharpest tool in the political shed but even this dead-man-walking Prime Minister must know that persecuting foreigner investors won’t make housing more affordable.
Foreigners are allowed to buy Australian real estate provided they buy new. The issue is the degree to which some overseas buyers sidestep the rules to buy existing dwellings. But the research shows that overseas buyers of secondhand homes are a tiny share of the total market and stopping them won’t affect pricing levels.
But Abbott managed to keep a straight face while claiming this is why he’s threatening to jail foreign buyers for three years. He says they’re “unnecessarily driving up prices”.
If he really believes that, he’s an even bigger idiot than I think he is.
Firstly, Australian prices are not rising to any significant degree, outside of Sydney. According to Domain’s House Price Report, median prices in the past 12 months went backwards in two capital cities, were unchanged in another, and grew less than 5% in three others. In the unit market, prices dropped significantly in three cities, were unchanged in another and grew less than 4% in two others.
So we don’t have a pricing issue, apart from Sydney.
But if you genuinely wanted to stop real estate prices rising, you would target the sections of the market that have the greatest influence. According to the recent NAB survey, the largest market sector by far is next-time buyers (home buyers other than first home buyers), who comprise 42% of sales of existing dwellings.
Next most important are first time buyers, who are 26% of sales, and then Australian investors, who are 22% of the market. Foreign investors are 7% of sales.
We must have slipped into a parallel universe if 7% of buyers can have more influence over prices than the other 93%?
The reality is that the federal government is running a Yes Minister scenario. The ordained method of dealing with a thorny issue is to run an inquiry, hold lots of press conferences, threaten strong action, find an unpopular minority as a scapegoat and, in the end, do nothing.
They started last year with a long and expensive federal inquiry into affordability. This talkfest produced nothing of value to the public, but something of immense value to beleaguered politicians – the perfect scapegoat. Foreign investors are a godsend because they’re few in number and they don’t vote anyway.
A chest-thumping press conference with a touch of sabre-rattling makes the PM look tough – but what he’s suggesting is nonsensical.
Imagine a scenario in which a Shanghai businessman buys a mansion in Sydney. Is it proposed that Australian will extradite him and put him on trial here for the crime of real estate purchase? And then lock him up for three years?
That’ll go down well in China, the most important buyer of our resources and also the No.1 source of foreign investment in Australian real estate. Even a twit like Tony Abbott isn’t going down that path.
You get the feeling it’s all designed as a smokescreen ahead of the Budget in which the numbers will be embarrassing.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Abbott's foreign buyer sabre-rattling is nonsensical: Terry Ryder

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Michael Smith, Director of architecture firm Atelier Red + Black and Apartments.com.au Industry Hub member, has gone to extraordinary lengths to mark the occasion of his 100th article on his personal blog, <a href="https://theredandblackarchitect.wordpress.com/about/">The Red and Black Architect</a>.

No stranger to regular Apartments.com.au readers, Michael's commentary on all aspects of architecture provides valuable insights and adds another layer of depth to Apartments.com.au's content. So what better way to mark his 100th article on The Red and Black Architect then to glean insight from leading Melbourne figures and fellow industry participants.

Below is an excerpt taken from <a href="https://theredandblackarchitect.wordpress.com/2015/05/04/the-red-black-architect-post-100/">his recent post</a>. The responses below as to why good architecture is so important could not have been answered in a more telling and comprehensive manner.

<hr>
<h2>What is your favourite building or space in Melbourne? And why?</h2>

Peter Hitchener – Chanel Nine News Presenter, Melbourne Icon. <a href="https://twitter.com/phitchener9">@phitchener9</a>

It’s hard to decide on one favourite building or space – there are so many in Melbourne… The Royal Exhibition Building, Flinders Street Station and St Paul’s are obvious choices.. Fed Square continues to be hugely popular as a meeting place, but my favourite Melbourne building is the National Gallery in St Kilda Road designed by Sir Roy Grounds, as well as the Arts Centre theatre and concert hall. I find the art gallery in particular induces feelings of calm, reflection and creativity; and I love the famous stained glass ceiling. It’s always worth a visit and I am never disappointed.

Jeff Kennett – Former Premier of Victoria, (Via Twitter). <a href="http://twitter.com/jeff_kennett">@jeff_kennett</a>

The Treasury Gardens in Spring Street, outside my old office. The gardens are a restful place for clear thinking and contentment. There are also many other great open spaces in Melbourne and Victoria as well.

Alison Cleary – Chapter Manager, Victorian Chapter of the Australian Institute of Architects

My favourite place in Melbourne is both a place and a moment in time. Federation Square February 13th, 2008. Standing with 10,000 Melbourneites, black and white, watching the big screen as the Then Prime Minister Kevin Rudd apologised to the Stolen Generations. The feeling of connection and togetherness, standing shoulder to shoulder with 1000s of others who had longed for this moment – the opportunity to say we are sorry and this should not have happened. A quintessential Melbourne moment contained within a quintessential Melbourne space.

Sonia Sarangi – Co-Director Atelier Red + Black. <a href="https://twitter.com/TheSarangi">@TheSarangi</a>

Heide MOMA II (by McGlashan &amp; Everist) is simply magical and one of Melbourne’s hidden gems. Previously a home for the Museum founders, it is now a gallery. It demonstrates beautifully how art, architecture and landscape are intertwined. I cannot do justice to describing it; you have to go there! But it reaffirms my belief that great architecture doesn’t age – it is robust and continues to enrich lives for decades. Heide III by O’Connor &amp; Houle is a fitting addition to this building and a testament to the thriving architectural scene in Melbourne.

Cr Rohan Leppert – Melbourne City Councillor. <a href="https://twitter.com/RohanLeppert">@RohanLeppert</a>

I have so many favourite spaces in Melbourne, but up there would have to be the Meat Market on Blackwood Street, North Melbourne. As a performing arts space, it’s got to be one of the most unusual buildings around – which is one of the reasons why so many emerging and contemporary artists love it. Its long history, which is central to the story of Melbourne’s growth as a city and as a community, continues to evolve in ever more interesting ways, without one ever losing the sense of this building’s remarkable working past.

<h2>Why is good architecture so important?</h2>

Jill Garner – Associate Victorian Government Architect

Utilitas (function? commodity? utility?), firmitas (solidity? materiality?), and venustas (beauty? delight?). Design’s power to make ordinary objects desirable can confuse its (more? equally?) important capacity to make things and places safe, understandable, durable, functional, affordable and energy efficient. The true value of (good) architecture lies in its capacity to integrate a solution to the mundane problems of occupation, with the capacity to change our perception of place, and the very best architecture integrates use with space, material and light in such a way that our senses soar.

Bad architecture – or no architecture – costs so much.

Peter Malatt – Architect, President of the Victorian Chapter of the Australian institute of Architects

Good architecture enriches our lives in ways which make every day a better day

Good Architecture stimulates all the senses of touch, taste, smell, sight and sound.

Good Architecture lasts longer, looks better, smells better, is better for the public and uses less energy.

Good Architecture gets better as it gets older.

Stuart Harrison – Architect, Writer, Broadcaster, Director of Harrison and White Architects. <a href="https://twitter.com/stuartnharrison">@stuartnharrison</a>

Better designed cities, buildings and public spaces make life more productive, satisfying and enjoyable whilst fostering a sense of community. Architecture is central to this, it is a glue to bring together people, spaces and stories. Good architecture should be promoted, debated, tested and understood to become truly good, in the minds of all who use, see and experience it.

Leone Lorrimer – Architect, CEO DWP Suters. <a href="https://twitter.com/LeoneLorrimer">@LeoneLorrimer</a>

I often reflect on the power of good architecture to change behaviour. Historically, churches, town halls and court houses were symbols of civic power. The Sydney Opera House was the first public building to challenge the cultural status quo of an entire city – daring the city to re-evaluate its role on the world stage. The design of the Sydney Opera House was the equivalent of the moon landing; without it the boundaries of technology in design and construction would not have been pushed so hard and so fast. With the Sydney Opera House, innovative architecture took on a new role as the visual identity of a city. Today the Sydney Opera House still creates awe, raises aspirations and changes behaviour. Where else would you stage the Festival of Dangerous Ideas?

<h2>How would you like to see the architecture profession change?</h2>

Warrick Mihaly – Architect, director of Mihaly Slocombe Architects, Writer of Panfilocastaldi. <a href="https://twitter.com/MihalySlocombe">@MihalySlocombe</a>

The architecture profession has been in a sustained crisis for as long as I can remember. I’d like to see us respond to this by diversifying our contribution to society into new territory. This will mean accessing segments of the building industry currently closed to us (like volume built housing), as well as generalising our skills beyond it. Our education and training bestow upon us a unique and valuable worldview. We need to put this to use wherever there is need for complex thinking and sophisticated creativity. Politics, strategic planning, finance, the media and entrepreneurial start-ups would be a great start.

Tania Davidge – Architect, Writer, Director of OpenHAUS. <a href="https://twitter.com/taniadavidge">@taniadavidge</a>

The reality is that the profession is already changing. Globalisation and the ever increasing speed of communication have opened up new contexts for architects to practice in. New technologies and the outsourcing of architectural services are changing how architects go about their business. This change is double-edged – it opens up possibilities for architects and broadens the audience for architecture but at the same time it has the potential to decrease architectural agency and relegate architects to the position of spatial image makers if we don’t pay attention.

If we want the profession to change for the better we need to redefine the practice of architecture for ourselves rather than let external pressures shape architecture. Within this context, I would like to see the practice of architecture expand to encompass greater diversity and to make a shift from object-centric preoccupations to incorporate more strategic ways of thinking about the city and the people who inhabit it.

Kim Irons – Architect, Director of Irons McDuff Architecture, Principal Adviser, Architecture + Transport OVGA and Architectural Adviser to Public Transport Victoria. <a href="https://twitter.com/IronsMcDuff">@IronsMcDuff</a>

I would like to encourage the profession to work more collaboratively in all aspects of research, academia, advisory, advocacy, and practice to demonstrate the value of good design – not just as an outcome but as a process. If we measure and demonstrate the value of design both in economic and social terms, we could be better advocates for our contribution to the built environment. Evidence exists for value of design in schools and hospitals, but we need more evidence across other typologies, and the public realm. The evidence for good design could lever our capacity to advocate the role and worth of architects to drive innovation and reduce ‘design risk.’

Timothy Horton – Architect, Registrar Architects Registration Board, New South Wales. <a href="http://twitter.com/timhorton_">@timhorton_</a>

More than anything I’d like the profession to own its own data. Why? Succeeding in advocacy, engagement and change often means having numbers to hand to either give shape to a problem (look at the movement on gender equity that comes from being confronted by the facts), or to sketch out a model of the opportunities on offer. This might mean collecting the data to validate those early promises on how a project will increase workplace productivity, or to put some quantities around the supply chain implications of decisions on materials or assemblies. Without its own cache of data, architecture risks being viewed as unverifiable overspruik.

<h2>How would you like to see Melbourne evolve over the next 20 years?</h2>

Clay Lucas – City Editor at The Age newspaper. <a href="https://twitter.com/ClayLucas">@ClayLucas</a>

Two planners from NSW I had a meeting with this week remarked how, compared to Melbourne, Sydney’s CBD had too many wind tunnels and dark corridors where you felt over-powered by skyscrapers. Over the next 20 years, I hope Melbourne’s CBD can accommodate high-rise residential development without making the central city an unpleasant place to be. More widely, it would be great if affordable, quality housing was created in the middle-ring suburbs – the lack of it drives some of the city’s more serious planning problems. And major transport projects will hopefully henceforth be built based on facts, not propaganda or a vibe; both the East West Link and the Regional Rail Link were supported without a transparent and honest exploration of the city’s needs.

Monique Woodward – Architect, Director of WOWOWA Architecture. <a href="https://twitter.com/WOWOWA_Arch">@WOWOWA_Arch</a>

What if Architects fees were tax deductible? What if the polite but inevitable cocktail party conversation regarding real estate and tax breaks merged into contributing higher quality housing stock for wins at tax time? After all, financial planner fees can be taken from a client’s superannuation fund because the perception is their service contributes to overall wealth. For most, the Australian fiscal dream revolves around money made from renovation after renovation but so few use an architect. What is it about architecture that people have a problem with? I wager a fear of cost blowouts coupled with seemly exorbitant fees. Making our service seem more attractive and accessible starts to address at least part of this issue.

Alastair Taylor – Urbanist and an Editor of the Apartments.com.au website. <a href="https://twitter.com/tayser82">@tayser82</a>

Plain and simple: more urban growth, more walkable, less suburban growth and less auto-centric. We can now safely say the centre of Melbourne fits this bill however the challenge over the next 20 years will to replicate this success to areas further afield, and in an appropriate form. Smaller scale projects like those in the Anstey precinct of Brunswick are the type of development I’d like to see all over Melbourne – medium to high density, 5-7 levels high, right next to existing public transport infrastructure.

And speaking of Anstey, one thing to keep an eye on is how architects will have an impact on the development industry. The Nightingale project might just spawn a whole new direction for the way urban development is undertaken in this city.

Emma Appleton – Director of the Victorian Design Review Panel, Office of the Victorian Government Architect

To retain Melbourne’s cherished live-ability, our transition to a medium density future needs to be supported by sustained and deliberate investment in the green and blue infrastructure of our city.

We must transform the way we think about, design and manage our public realm, and protect and enhance the natural systems which sustain us, to meet the demands of more intensive use, increased consumption and pollution and to support our quality of life.

The streets, boulevards, parks, and public places, and our river corridors and natural landscapes are the lungs and connectors of our city, essential to our well-being and health, and central to the character and identity of Melbourne and who we are as citizens.

<hr>
Congratulations to Michael and as always architecture is for everyone! See the remainder of Michael Smith's <a href="https://theredandblackarchitect.wordpress.com/2015/05/04/the-red-black-architect-post-100/">milestone post</a> on the Red and Black Architect blog. You can also follow Michael on <a href="https://twitter.com/Red_Black_Archi">Twitter</a> and <a href="https://www.facebook.com/redblackarch">Facebook</a>.

Lead image courtesy <a href="http://melbournedaily.blogspot.com.au/">Melbourne Fresh Daily</a>.
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silvermb

Melbourne and architecture: prominent figures voice their opinion

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Sydney's cheapest auction offering sold a week before Saturday's scheduled auction at Cabramatta.
It went for $400,000 through Sam Tea at Richardson &amp; Wrench Cabramatta. There were just nine sales at weekend auction at $500,000 or below.
The 39/65 McBurney Road, Cabramatta apartment was a two bedroom with balcony.
It last sold at $260,000 in 2011 and $216,000 in 2004, and at $98,500 in 2001.
The late 1970s block's previous highest sale was $370,000 in late 2014 for a 68 square metre two bedroom. It was then put out for rent at $310 a week, reflecting around 4.3% rental yield.
It sold in 2001 at $103,000.
Sydney's other sub-$500,000 weekend auction sales were:
7/10 Betts Avenue, Blackhurst, one bedroom unit $460,000
8 Leonard Street, Colyton, three bedroom house $471,000
8/21 Mount Street, Constitution Hill two bedroom house $490,000
18/12 Enmore Road, Newtown studio $460,000
16/13-17 The Strand, Rockdale one bedroom unit $435,000
9/16-18 Roslyn Gardens, Rushcutters Bay studio $432,000
24/543-551 Elizabeth Street, Surry Hills studio $455,000
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Cabramatta had Sydney's cheapest auction offering - what you get for $400,000

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Measuring the cost of housing and housing affordability is such an abstract idea because it is not a one size fits all measure and there are so many factors which contribute to affordability or unaffordability.
Most of the common measures have one or a number of glowing weaknesses which I will cover.
<ul>
<li>Interest rates</li>
</ul>
What interest rate do you use when a typical mortgage is 25 to 30 years? Most measures utilise the current mortgage rate and while that may tell you what affordability is like now affordability is important to analyse throughout the life of the mortgage not just as you purchase. With generational low mortgage rates right now, affordability in many areas looks good but if rates were to normalise affordability would look very different.
<ul>
<li>Household income</li>
</ul>
What figure do you use for household income? Much like interest rates household incomes will fluctuate over the 25 to 30 year cycle of a mortgage. Given this, are household income measures appropriate or is it better to assume a single or dual income household? Furthermore, outside of the Census, which is conducted every five years, this data is only published semi-regularly and at a state level. Housing markets and income levels are very different across different regions of the country.
<ul>
<li>International comparisons</li>
</ul>
Is a home in Australia the same as a home anywhere else in the world? In the sense that it provides shelter it is, however, tax regimes, the cost and scarcity of developable land, the provision of infrastructure and the availability of jobs are all other factors that contribute to the cost of housing. Furthermore, most comparisons are not apples with apples. Australian housing markets are dominated by detached houses whereas markets like Tokyo, Singapore, Hong Kong and Manhattan are largely apartment markets while London for example is predominately attached housing types (what we would call terraces or townhouses). The fact that Australian homes are, at least for the large part, detached and the largest in the world will also contribute to a higher cost.
Ryan Fox and Richard Finlay from the RBA wrote an excellent paper back in 2012 which provides an overview of some of the challenges around blending household income data with housing prices which is available <a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/publications/bulletin/2012/dec/2" target="_blank">here</a>.
CoreLogic RP Data don’t regularly publish a measurement of housing affordability, however, a different perspective on housing affordability is to look at the cost of renting relative to the price of a home. Using our data on advertised median rental rates and median selling prices of homes we can determine how many years difference there is between the cost of renting and the cost of a home. This analysis focusses on the relative affordability between the two primary means of shelter; renting or owning a home. This analysis doesn’t factor in interest rates or household incomes and doesn’t compare internationally. What it does do is look at the difference between the two forms of housing residents have, to rent or to purchase.
With rental growth at its lowest level in more than a decade, we would expect that the number of years of rent required to purchase a home will rise over the coming year. As a result we may see more residents choosing not to purchase their own home despite the low mortgage rates available.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-1.jpg" alt="chart 1" width="500" height="181">
Across the combined capital cities, the annual rent for a house is $25,552, for a unit it is $24,013 and for combined houses and units (dwellings) it is $25,311. In comparison, the median house price is $559,000, the median unit price is $470,000 and the median dwelling price is $530,000.
Based on this data, to buy a house would take 21.9 years of rental payments, to buy a unit requires 19.6 years of rent and a dwelling would take 20.9 years of rental payments. As the chart shows, the differential has been greater at the end of 2007 and there has been little change over recent years. In saying this, in March 1997, the differential was much lower at 10.8 years for houses and 11.7 years for units.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-2.jpg" alt="chart 2" width="500" height="182">
In Sydney, the cost of a house is equivalent to 24.6 years of rents and the cost of a unit is 21.7 years of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-3.jpg" alt="chart 3" width="500" height="182">
Across Melbourne the median house price is equivalent to 23.8 years of rent while the cost of a unit equates to 21.3 years of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-4.jpg" alt="chart 4" width="500" height="181">
A typical Brisbane house costs 20.9 years’ worth of rent while the typical Brisbane unit costs 17.7 years of rent. Note that the 17.7 years is the lowest since July 2004.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-5.jpg" alt="chart 5" width="500" height="183">
The median house price in Adelaide is equivalent to 22.0 years of rent and the unit price amounts to 20.6 years of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-6.jpg" alt="chart 6" width="500" height="182">
The median Perth house costs 21.0 years’ worth of rent while the median unit costs 19.1 years’ worth of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-7.jpg" alt="chart 7" width="500" height="183">
A typical house in Hobart costs the equivalent of 18.9 years of rent while a unit costs 17.0 years of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-8.jpg" alt="chart 8" width="500" height="183">
A house in Darwin costs 18.4 years’ worth of rent while a unit costs 18.9 years’ worth of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-9.jpg" alt="chart 9" width="500" height="182">
The median house price in Canberra is equivalent to 22.6 years of rent while the median unit price is 19.7 years of rent.
<img src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/chart-10.jpg" alt="chart 10" width="500" height="232">
It is also interesting to look at the relativity between cities. The way to read this chart is if you use Sydney as an example, rents are on the left and purchase prices are at the top. Given this, if you rent in Sydney and want to purchase in Sydney it costs 22.4 years of rent, whereas if you live in Sydney but want to purchase in Melbourne it is equivalent to just 16.8 years of your Sydney rent.
The table shows that those renting in the more expensive cities would have a much easier time entering into home ownership outside of these cities. On the other hand, if you are thinking about buying in Sydney but are currently renting in another city you could be in for a nasty shock when you go to purchase.
By no means do I think this analysis is a perfect picture of housing affordability however, I do think it is a different way to measure it. It still has the weakness of using medians and of course, very few people purchase the median home and in particular first time buyers should be looking to purchase below the median price. Nevertheless it does show the difference in the cost of renting and housing and potentially provides some food for thought for those looking to enter into home ownership.
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Measuring the relativity of housing costs: Cameron Kusher

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<div>
A Lilyfield home with authentic 1950's kitchen with breakfast nook has been listed for 9 May auction.
The 1900 Federation home on 215 square metre block has three bedrooms, the main with window seat.
There are high patterned ceilings and cornices.
Its level back garden finishes off the package with lawn and Hills Hoist
All five minute walk to parks, supermarket and the light rail.
</div>
<div data-read-more-height="215">
The <a href="https://www.pilcher-residential.com/4948414/16-Starling-Street-Lilyfield" target="_blank">16 Starling Street offering</a> is being offered through Pilcher Residential with price guidance over $1.05 million. 
"Owned by the same family since 1946, the house is being sold with its vintage furniture included," listing agent Simon Pilcher said.
<div data-read-more-height="215">
On the Saturday, after bidding opened at $1.1 million, an original 1950s home at fetched $1.52 million for a classic 1950s family home in Eastwood.
Marketed as a "quintessential Aussie red-brick house," the three-bedroom home on a 778-square-metre block at <a href="https://www.domain.com.au/property/sold/house/nsw/eastwood/?adid=2011897191">205 North Road</a> had 18 registered bidders.
It last sold at 6400 pounds in the 1960s, reported the SMH's 50s aficionado, Anna Anderson. 
After the buyers - who were accompanied by parents visiting from China - indicated plans to keep and extend, the BresicWhitney agency <a href="https://www.propertyobserver.com.au/https://twitter.com/BresicWhitneyEA/status/595009767317188608" target="_blank">tweeted</a>: New Life: "Red Brick Survivor" passed to the next generation of Aussie families in #Eastwood.<a class="twitter-timeline-link" href="https://t.co/wgSmhR98oi" target="_blank" title="https://ow.ly/MsyTl" rel="nofollow" style="line-height: 1.3em;" data-expanded-url="https://ow.ly/MsyTl"> </a>
The last time interest rates were at current levels was in the 1950s and 1960s. In March 1960 the minimum interest rate applied on loans accepted by authorised dealers on the short term money market was 2.69% with the maximum rate of 3.38% and an implied weighted average rate of 2.70%.
Certainly very low interest rates were common through the 1940s, 1950s and most of the 1960s. For instance in 1952, the 3-month commercial bank deposit rate was just 0.71 per cent and even in 1956 it had lifted to only 1.25%. Housing loan rates held at 5.00% through 1959 and 1960. Trading bank overdraft rates were between 5.00-6.00% in the late 1950s/early 1960s, according to the Commonwealth Bank of Australia Statistical Bulletins.
A key reason why interest rates were low was because wages and prices were under control. In the 1958/59 year, wages rose by 2.5%, retail prices rose by 2.6% and the consumer price index rose by 1.9%, Craig James the chief economist at CommSec once noted. 
</div>
</div>
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