Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

Joel Robinson

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

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As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

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The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

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Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

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The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

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"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

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Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

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The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

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Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

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Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

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Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

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.

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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.

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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.

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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.

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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?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

<html><body>
The tiny Macarthur Credit Union has become only the third lender to pass on more than the RBA’s 25 basis point May cash rate cut to borrowers.
The credit union, which dates back to 1971 when it formed to service coal miners and truck drivers as the Clutha Employees Credit Union Ltd, cut its standard variable rate by 26 basis points to offer a new 5.99% standard variable rate.
As the Macarthur Credit Union, it services 17,000 members in Camden, Campbelltown and Wollondilly in the Macarthur region of NSW, south west of Sydney.
The other lenders to pass on more than the RBA's May cash rate reduction to date are ANZ (27 basis points) and the Greater Building Society (30 basis points).
“It’s great to see most lenders passing on the Reserve Bank’s 0.25 percentage points and even better to see some lenders going further. Macarthur Credit Union is the third lender so far to drop its standard variable rate by more than the Reserve Bank’s 0.25 percentage point cash rate drop, even if it’s only by an extra 0.01 percentage point,” said RateCity.com.au CEO Alex Parsons.
“We’re hoping that this latest round of rate cuts by the Reserve Bank will spark greater competition between lenders. The game has changed for Australia’s lending market and now is the time for borrowers to take advantage of what lenders are offering.
RateCity.com.au has counted 39 lenders announcing rate cuts since last week’s decision by the RBA to cut the cash rate by 25 basis points to a 53-year-low of 2.75%:
<div align="center">
<table align="left" style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="45%" nowrap>
Company
</td>
<td width="32%" nowrap>
Standard variable
rate movement
</td>
<td width="22%" nowrap>
New standard
variable rate
</td>
</tr>
<tr>
<td width="45%" nowrap>
Greater Building Society
</td>
<td width="32%" nowrap>
-0.30%
</td>
<td width="22%" nowrap>
5.75%
</td>
</tr>
<tr>
<td width="45%" nowrap>
ANZ
</td>
<td width="32%" nowrap>
-0.27%
</td>
<td width="22%" nowrap>
6.13%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Macarthur Credit Union
</td>
<td width="32%" nowrap>
-0.26%
</td>
<td width="22%" nowrap>
5.99%
</td>
</tr>
<tr>
<td width="45%" nowrap>
AMP Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.25%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Aussie Home Loans
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.24%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Bank MECU
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.74%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Bank of Melbourne
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.15%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Bank SA
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.22%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Bankwest
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.14%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Bendigo Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.26%
</td>
</tr>
<tr>
<td width="45%" nowrap>
BMC Mortgage
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.28%
</td>
</tr>
<tr>
<td width="45%" nowrap>
BOQ
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.26%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Coastline Credit Union
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.34%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Commonwealth Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.15%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Heritage Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.89%
</td>
</tr>
<tr>
<td width="45%" nowrap>
IMB
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.91%
</td>
</tr>
<tr>
<td width="45%" nowrap>
ING DIRECT
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.41%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Intech Credit Union
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.93%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Macquarie Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.24%
</td>
</tr>
<tr>
<td width="45%" nowrap>
MyRate
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.42%
</td>
</tr>
<tr>
<td width="45%" nowrap>
nab
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.13%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Newcastle Permanent
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.80%
</td>
</tr>
<tr>
<td width="45%" nowrap>
P&amp;N Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.95%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Pacific Mortgage Group
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.02%
</td>
</tr>
<tr>
<td width="45%" nowrap>
People's Choice Credit Union
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.12%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Police Credit
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.74%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Queenslanders CU
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.25%
</td>
</tr>
<tr>
<td width="45%" nowrap>
RAMS Home Loans
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.10%
</td>
</tr>
<tr>
<td width="45%" nowrap>
RESI Mortgage Corp
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.31%
</td>
</tr>
<tr>
<td width="45%" nowrap>
SGE Credit Union
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.82%
</td>
</tr>
<tr>
<td width="45%" nowrap>
St George Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.24%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Summerland CU
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
5.54%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Suncorp Bank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.24%
</td>
</tr>
<tr>
<td width="45%" nowrap>
UBank
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
4.87%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Westpac
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.26%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Yellow Brick Road
</td>
<td width="32%" nowrap>
-0.25%
</td>
<td width="22%" nowrap>
6.15%
</td>
</tr>
<tr>
<td width="45%" nowrap>
loans.com.au
</td>
<td width="32%" nowrap>
-0.24%
</td>
<td width="22%" nowrap>
4.75%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Community First Credit Union
</td>
<td width="32%" nowrap>
-0.22%
</td>
<td width="22%" nowrap>
6.12%
</td>
</tr>
<tr>
<td width="45%" nowrap>
Police Bank
</td>
<td width="32%" nowrap>
-0.20%
</td>
<td width="22%" nowrap>
5.84%
</td>
</tr>
</tbody></table>
</div>
Source: RateCity.com.au, ranked by biggest cuts then alphabetically, effective dates vary between lenders
</body></html>

lschlesinger-FZcF9M3vE6

Macarthur Credit Union beats RBA with 26 bps rate cut: RateCity guide of 39 lender rate cuts

<html><body>
Midland Brick heiress Marilyn New has finally secured the sale of her Perth hotel with the four star Esplanade River Suites serviced apartments in Como selling to the Chinese-based Narada Hotel Group for around $31 million.
A year ago, she sold the 4.5-star, 300-room Esplanade Hotel in Fremantle to <a href="https://www.propertyobserver.com.au/leisure/marilyn-new-sells-fremantles-esplanade-hotel-for-%2490-million/2012040454156">Singaporean property fund Ascendas</a> for $90 million.
Narada’s purchase, reported by The Australian Financial Review, continues a trend of Asian hotel groups buying prominent Australian hotels.
Recent noteworthy purchases include the Dong Run Group purchasing the <a href="https://www.propertyobserver.com.au/industry-news/palazzo-versace-hotel-sale-helps-lift-sunland-interim-profits-as-residential-sales-slow/2013021459356">Palazzo Versace hotel on the Gold Coast</a> for $68.5 million at the end of 2012, Hong Kong-listed Shangri-La Asia paying $352 million to fully own the Sydney’s Shangri-La Hotel in The Rocks and William Han, chairman of China-based White Horse Australia Holdings Pty Ltd and non-executive director of Western Australia's Padbury Mining buying Lindeman Island in the Whitsundays for around $12 million in April last year with plans to redevelop the island.
Narada bills itself as one of the Top 10 hotel groups in China and among the Top 100 in the world, managing 15,000 guestrooms in 11 provinces in China.
The group was established in 1995 and has assets comprising hotels, infrastructure and real estate development worth 5 billion yuan ($816 million).
The Esplanade River Suites on Melville Parade overlooks the Swan River, and features 101 guest rooms and apartments as well as the Pagoda Restaurant and Bar and conferencing facilities.
It opened in February 1998 on the site of the historic Pagoda Ballroom, which was built in 1922 as a dance hall and tearooms.
The hotel retains the distinctive red-roof Pagoda design.
The sale of Esplanade River Suites was negotiated by Aaron Desange of?Jones Lang LaSalle’s Hotels &amp; Hospitality Group.
It was sold as vacant possession.
</body></html>

Marilyn New exits Perth hotel scene with Esplanade River Suites sale to Chinese hotel group Narada 

<html><body>
First-home buyers continue to stay on the sidelines of the housing market with economists noting the flow-on effect this is having for the wider housing market recovery. In addition the <a href="/news">different incentives on offer in state and territory housing markets</a> and with different expiry dates, is distorting the picture, pulling forward demand in some cases, but with a vaccum likely to follow when incentives are withdrawn.
ABS housing finance figures show that first-home buyer activity retreated further in March with this segment accounting for 14.2% of total owner-occupied housing finance compared with 14.4% in February.
First-home buyer numbers, as a proportion of the total dwellings financed, are at their lowest level since May 2004 – a nine-year-low..
A year ago they made up 18.1% of the market with the first-home buyer market peaking at 31.4% in May 2009, with first-home buyers spurred on by the $7,000 first-home owner boost (FHOB) for existing homes and $14,000 bonus for new homes, which ran from October 2008 to December 2009 (halved in the final two months).
<img src="/images/stories/2013/05/fhbmay14twothumb.gif" width="470" height="328" alt="fhbmay14twothumb">
This decline in first-home buyers is against a backdrop of a stronger-then-expected rise in home lending, which lifted 5.2% in March led by strong gains in NSW and Victoria.
Westpac economist Matthew Hassan highlights a point made by other economists like <a href="/news">AMP Capital’s Shane Oliver</a> that the current housing market recovery has been weak by comparison to previous easing cycles
He told the Australian Financial Review it had taken “a very long time to generate any movement in the sector", but that prior to yesterday’s housing finance bounce, the recovery had been “sub-par”.
Hassan pointed to the lack of activity in the first-home buyer market as a key issue for a sustained recovery, as they typically purchase the homes of those looking to upgrade and move up the property ladder.
“Ultimately you need a new entrant to drive ongoing growth on the buyer side,” he said.
A similar point was made by Commonwealth Bank economist Michael Workman who called first-home buyers “still the missing link to the overall housing activity story”.
“Higher levels of first home buyers in the market are needed to make a solid impact on total housing activity,” he said.
ANZ property market analysts David Cannington and Paul Braddick said that “looking through the distortions from state and territory government first-home buyer policy changes in recent months” the March data indicates “the combined impact of improved housing affordability and low rental vacancy rates (putting upward pressure on rents) is supporting moderate growth in first-home buyer finance, albeit from low levels”.
"First-home buyer activity increased in March (on a trend basis), however its share of the total value of housing finance commitments (excluding refinancing) decreased to 10.9% - the lowest first-home owner share since April 2004," said Cannington and Braddick.
"Growth in the number of first home-buyer commitments in March was lowest in Tasmania, followed by the Northern Territory (-21.3% m/m and -17.5% m/m respectively).
"The withdrawal of the First Home Buyer Grant on established homes in NSW and Queensland and the unwinding of Northern Territory first-home buyer concessions have weighed on first- home buyer lending in these states.
"However, moderate growth in first home-buyer finance in many states in recent months indicates the combined impact of improved housing affordability and low rental vacancy rates (putting upward pressure on rents) issupporting first home buyer activity," the said.
ANZ prepared the following sets of graphs to show how the first-home buyer segment is tracking in each of the state and territory markets, with the five biggest markets – NSW, Victoria, Queensland, Western Australia and South Australia – showing mild improvements, but declining trends in the three smallest states.
Click to enlarge
<a href="/images/stories/2013/05/fhbmay14one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/05/fhbmay14onethumb.gif"></a>
</body></html>

Lack of first-home buyer recovery halting stronger housing market rebound: Matthew Hassan

<html><body>
Property Council of Australia chief executive Peter Verwer has warned the government not to introduce further changes to its withholding tax rules, which could create more uncertainty in the minds of institutional investors.
The withholding tax is charged on income paid to foreign investors who invest in managed schemes, many of which fund large infrastructure and property projects in Australia.
Last year, the government doubled the tax rate on distributions from 7.5% to 15% for all buildings in managed schemes, except those constructed after July 1 with a five-star energy rating, where a 10% tax rate has been implemented.
Verwer told Property Observer that the important thing was certainty amid concerns that government may tinker with the thin capitalisation regime – the debt side of institutional investments.
“There is the potential for them to make changes to the thin capitalisation regime, which would send a further negative signal to rest of the world and would complicate the ability of schemes to raise money internationally,” he said.
Currently, institutional investors can borrow up to 75% and take advantage of a favourable tax regime for this debt. The proposed changes would reduce the gearing threshold at which the thin-cap rules apply.
“International investors have been dismayed by the chopping and changing regime.
"They see Australia’s economic growth as attractive for long-term investment, but are dismayed at the ad hoc approach taken to taxing them,” he said.
Verwer said the PCA’s preference was for a single, low rate “that sends a clear message to the world”.
</body></html>

Property Council warns against further tinkering with offshore investment rules

<html><body>
The cash rate may be back to what it was in January 1960, but it was a different era for those seeking a home loan.
For those who missed it, the RBA’s <a target="_blank" href="/news">decision to cut the cash rate to 2.75% last week</a> meant that the benchmark borrowing rate fell to a 53-year-low below a 'cash rate' setting of 2.89% in January 1960.
This was not the official benchmark figure it is today, since the Reserve Bank did not publish a cash rate target until January 1990.
Rather the cash rate was a proxy measure of short-term interest rates at a time when the banking sector was highly regulated and getting a home loan meant making an appointment with your bank manager and wearing your best suit to an interview.
<img alt="commsecmay13one" height="333" width="470" src="/images/stories/2013/05/commsecmay13one.gif">
Source: CommSec
There were no foreign banks, no discount online mortgage offerings, nor the plethora of different mortgage products tailored for different types of borrowers and investors.
There were no honeymoon rates, low-doc loans, reverse mortgages, packaged home loans or off-set accounts with such product innovation only coming to the fore in the late 1990s and early 2000s.
Getting a good home loan rate meant having a good relationship with your bank manager.
The headline home loan rate was also lower at 5.00% through 1959 and 1960, according to <a target="_blank" href="https://www.propertyobserver.com.au/economy/a-return-to-the-1950s-glory-days-is-on-the-cards-commsec-s-craig-james/2013050861160?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=economy">CommSec chief economist Craig James</a> compared with an average standard variable rate of around 6.17%, according to RateCity.com.au following the 25 basis point reduction.
However, a standard variable rate would not even have been quoted in 1960s, with most home loans on fixed-rates with "flexible" mortgage rates only appearing more commonly in the mid-1960s. Certainly most of the Commonwealth Bank's lending would have been done on fixed-rates.
 
<hr class="system-pagebreak">
Assistant RBA governor Guy Debelle pointed out in a speech in 2010 the differences between mortgage lending today and forty and fifty years ago.
"In the 1960s and early 1970s, the Australian financial system was heavily regulated," Debelle said.
He highlighted a number of wide-ranging controls including that interest rates that banks could charge on their loans and pay on their deposits were controlled.
"Banks were subject to reserve ratios and liquidity ratios. There were directives on the overall quantity of loans banks should make, as well as moral suasion on who they should lend to.
"Institutions were specialised – trading banks lent to businesses, savings banks held large quantities of government debt and lent to households (almost entirely for housing), and finance companies lent for more risky property loans and consumer credit," he explained.
Finance companies likes of the Finance Corporation of Australia funded Alan Bond's first property speculations now subsumed into ANZ-owned Esanda.
However, this heavy regulation of the banks would later result in them losing market share as the unregulated financial sector, primarily building societies moved in.
The banks’ share of total financial intermediary assets declined from nearly 90% in the early 1950s to 70% in 1970.
"The banks’ share of housing credit was just below 60% in 1976 with much of the rest of the mortgage market being provided by credit unions and building societies. Finance companies, which were generally associated with the banks, often provided top-up funding to bank mortgages but were not a particularly large share of the overall market," explained Debelle.
Compare this with today's mortgage market where banks have 96% of outstanding home loans and credit unions and building societies just 4%.
And there are other differences.
It certainly was not possible as it is today to contact your mortgage broker if you felt you were paying too high an interest rate and ask them to source a better deal with another lender.
Or demand that your bank offer you a better rate.
In 1959/60 Australia's GDP growth was 4.4% compared with 3.1% through 2013.
The unemployment rate was under 2% compare with the current 5.5%, meaning decidely fewer borrowers were worrying about paying off their mortgages.
It certainly was not the market-driven banking and lending system we have today while a high Australian dollar - a key factor in the RBA's decision to cut the cash rate on Tuesday - was not a problem as the currency only floated in 1983.
The floating of the dollar coincided with federal treasurer Paul Keating deregulating the banking system between 1983 and 1985 granting 40 new foreign exchange licences in June 1984; and granting 16 banking licences to 16 foreign banks in February 1985.
Australia’s sixth biggest mortgage lender, ING Direct, only began offering its cheap online home loans and high-interest savings accounts in 1999.
Bear in mind that in 1960, the Reserve Bank of Australia had only just come into official being in under the Reserve Bank Act 1959, tasked with undertaking the central banking functions of the Commonwealth Bank.
The Commonwealth Bank as we know it today, originated from this date offering commercial banking and savings banking activities in the form of the newly created Commonwealth Banking Corporation.
Monetary policy was of course entirely different with no RBA imperative to maintain an inflation target of between 2% and 3%.
And it’s not just the nature of the banking system that was so different, house prices had yet to boom as they did in the 1990s and 2000s.
Housing was far more affordable meaning mothers did not have to go out into the workforce to help pay for the mortgage and buying your first home was not the financial commitment it is today.
The boom in property values prior to the GFC saw house price to income ratios of less than to two in the 1960s rise to above four to one currently.
As for household debt that's in a different stratosphere.
In 1960 household debt to Australia’s GDP was less than 20%.
Today it’s just under 150%.
 
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It's really not back to the 1960s for borrowers despite a 2.75% cash rate

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There was a “spectacular” recovering in home loan approvals to fund new home purchases, including apartments bought off-the-plan in March, says Westpac, quoting ABS figures.
Apart from noting that the upswing in housing finance approvals “clicked back into gear in March” Westpac noted a “spectacular 21% jump in approvals for the purchase of newly built dwellings”.
“With approvals for construction up 4.7% the combined gain in 'construction related' finance approvals is showing a strong upturn with a 10% rise in the March month the strongest reading since early 2009 and up 21% for the year,” said the Westpac economics team, led by Bill Evans.
Westpac also noted that when re-financing is stripped out of mortgage approvals to owner occupiers, the number of 'new' loans posted an even stronger 7.2% gain to be up 13.8% for the year. “The rest of the detail showed a more modest gain for approvals to first-home buyers - we estimate up 4% for the month in seasonally adjusted terms but coming from a record historical low.
“The value of loans to investors was also more sluggish, rising 2.1% for the month suggesting the March strength was dominated by 'upgraders',” said Westpac Economics.
Master Builders Australia chief economist was less exuberant in his response to the March figures, saying they were a “welcome improvement” and “good news for an industry going through the tenuous signs of recovery”.
“Residential building is at a ow ebb and the industry hopes that Reserve Bank’s decision to cut interest rates in again May will give new home buyers the boost in confidence to enter the market.
“The solid improvement in March comes off the back of a positive housing finance figure in February but the industry is not ready to count its chickens before they hatch.
“There needs to be a much longer run of positive figures to confirm a recovery. However, builders may be relieved to see these figures, which suggest that new housing activity may have finally found a trough,” he said.
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Mortgages approvals for new homes up a “spectacular” 21% in March: Westpac

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A creative brief might well be issued under varied circumstances.
The brief might be a part of a submission to help win a project appointment, it might come after a client has selected their marketing agent or it could be a new brief mid-way into a project.
It is more common that the creative brief will cover the anticipated life of the project and that can cover varied time frames, but during the life of the project circumstances are bound to change.
We know that the launch phase is a very different message from ongoing marketing several years along the timeline. What this means is that many advertising campaigns will kick off in the market well ahead of any product being available or yet under construction. Even where the campaign content is only focused on an ROI (registration of interest) phase, the creative must be relevant to the task.
An ROI campaign does not really offer product as such, it is more the promotion of a future opportunity. For many buyers the message can be all about getting an early place in the queue and for clients and often the financiers it’s all about securing those all important early sales off the plan.
Some time later when a project is partly sold and buyers have moved in, the project has a new life force of its own and that will usually require different creative content.  These are only two points in what can be a complex marketing setting. Given the importance attributed to creative and its impact on the advertising budget and the sales path let’s look at how a good brief can be structured and then reviewed.
Getting started
If we accept that the creative message must always help to drive sales, I think the first few steps in putting together a solid brief will usually involve the following well-established points:
<ol>
<li>Have a very clear map of the market you’re going to be selling into – not an industry – but a layman’s version.</li>
<li>Review the brief and the eventual submission with a consistent and if possible, diverse team.</li>
<li>Avoid industry jargon.</li>
<li>Agree internally and then set clear goals.</li>
<li>Be open-minded – experience is to be valued but just as much, new ideas.</li>
<li>Agree one final decision maker – committees never work.</li>
</ol>
With these key ideas in mind, and I don’t think I am suggesting anything revolutionary, let’s move onto how the formal brief is put together. While the process should not be made too complex, an investment in a solid brief will pay dividends.
I think that a formal brief can be prepared based around the points just discussed. Aim to include input from the entire project team, and this team should be as inclusive as necessary. I have also seen some benefit internally when preparing the brief because it brings into sharp focus many aspects of the project’s sales path.
This effort to prepare a brief, will also reflect how the client is structured and resourced, but in broad terms as I know from experience and from guidance issued by groups such as the APMA and the Marketers and The Communications Council, it is essential the brief should contain the following:
• Address all sales path issues of the project – revenue targets, timelines and all key financial matters
• Detail all competitors, market share, market dynamics, depth of the target market and all available demographics (and if necessary highlight any areas where more work is required)
• What are seen as the major marketing objectives – take a birds-eye view of this point
• Establish a clear vision for the project’s brand overview
• Agree the key messages
• Communicate yours and the clients objectives
• Detail the budget requirements – and this should cover a complete breakdown across all marketing related costs that the agency will be required to deliver – including all media rates and contracts
• Include an expanded competitive overview (that agencies invited to pitch can either supplement from their own research or not)
• Are there any Global branding requirements from the clients or your own internal brand guidelines
• Contract and payment terms and fee structure
• Outline in detail what you expect the pitch to deliver such as strategy, creative solutions, timelines, budget, the agency team
• Detail the time that will be available for the pitch and try to allow a reasonable timeframe– avoid rushing this important part of the project
• Detail how the pitch will be evaluated – this step can also help focus your own internal view of the project – have all points been covered
• Will any pitch fees be paid
As the project matures
Moving past the briefing process and the preparation of marketing assets, I feel it is important to help keep energy in the project with the project marketing group delivering a collaborative process.
As I have already suggested this is not a process of marketing or decision-making by a committee but a process that engages the experience of the team.
This involvement should have already started with the creative brief. If there is common ownership and consensus on the brief then this should help to short-circuit any potential problems, just the opposite in fact, creating enthusiasm and energy.
After the brief has been signed off the creative agency should respond with the required content and a creative presentation supported by a strategy and how their ideas will progress the marketing plans.
Then aided with feedback, the creative development would go ahead and between the project group, which now includes the agency, establish ‘ownership’ of the location and the marketing plans and I suggest that team ownership will always benefit the project and the client’s objectives.
It is however very difficult, even with detailed research, to understand exactly how people will see and react to a particular creative message or in fact the project itself.
What is clear however is the need for the creative message to change over time so that the message being sent to the market always has direct relevance. It is also possible that too much change can also create confusion in the market and damage the brand values of a project.
This is of particular relevance in project marketing where the time frame may well run over many years. The aim of the creative process is to get results, people on the telephone, people attending open for inspections, people registering their details, walking into the sales office or display home.
While creative is a subjective issue based upon individual opinion, there are a variety of tools to help manage this important area.  The brief and how the marketing is managed are key.
I feel that a team approach is important because when ownership of the creative and marketing is embraced and nourished by the entire project marketing team, a strong and successful sales path naturally follows. And that’s the result we all want.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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Getting the creative content right in project marketing: Peter Chittenden

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Sydney-based architect Joe Snell has been named as one of the judges on Channel 7’s new reality show House Rules.
From the makers of My Kitchen Rules, Channel 7’s take on the popular reality show The Block.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/house-rules-the-new-addictive-reality-television-show-on-the-block-renovates-for-keeps/2013051261200" target="_blank">House Rules will see six teams of complete strangers transform each others homes around the nation.</a>
Joe Snell (pictured below) first completed a Bachelor of Science with a major in architecture and moved to London to become a real estate agent for two years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/snellmay14one.jpg" alt="snellmay14one" width="400" height="803">
Upon returning, Snell completed his Bachelor of Architecture at The University of Sydney and joined his father's firm, Snell Architects.
Snell Architects was founded in 1978 and won the best retail design award at the Westfield National Awards 2012.
"Being a real estate agent made me a better architect, as I actually learnt what people really wanted in a house," Snell says.
Outside of his architectural interest, Snell recently created an exhibit for Vivid Sydney – an annual festival of light and music.
“Most people think that architecture is this massive thing, but hopefully by watching House Rules they will realise it is just about making your day a little better,” he says.
“I want to see how the contestants use the natural light of the house, how they manage the cross ventilation of air flow, how they use and interpret the space of the house and their employment of scale and proportion.
“I will tell the truth about the space as I see it, regardless of who renovated it, and I will not sugar coat it, but that doesn’t mean I will be a horrible judge.”
Snell currently lives in Sydney with his wife Laura and their two sons.
Snell will judge House Rules alongside Wendy Moore, who is the editor of Home Beautiful magazine and has been in the magazine industry for more than 20 years.
Moore (pictured below) became editor in 2006, having previously worked on Australian Women's Weekly, Woman's Day and Burke's Backyard magazine.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/mooremay14one.jpg" alt="mooremay14one" width="400" height="755">
"I am a pretty honest person," Moore says.
"If I do have something brutal to say, I will have a reason for saying it.
"My aim is to be constructive and truthful."
Moore's own home in Sydney's inner west has undergone its own renovation, including the add on of a home office and a kitchen makeover - all for under $2,500.
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Sydney architect Joe Snell headlines House Rules judging on Channel 7's reno series

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Most signs point north for real estate markets around Australia. Indicators consistently describe rising markets.  
The best thing about this generally positive outlook is that few of the indicators suggest we’re charging into a boom. The national figures for home loans, sales volumes, price movements, building approvals and affordability, among others, suggest a steady and sustainable recovery (with the exception of exceptional locations like Darwin, where the numbers of extraordinary).  
This week’s ABS data on housing finance reveals plenty that’s significant about real estate markets.  
The value of housing loans rose 4.5% in March, seasonally adjusted, continuing a generally upward trend since the middle of last year. But the trend graph shows a steady – rather than spectacular – improvement.
The ABS figures also reveal the steady increase in the number of investors active in property markets across Australia. A year ago investors were about 30% of buyers; in March 2013 they were 36%, following gradual increments over the past 12 months.  
The figures also confirm that buyers of all sorts overwhelmingly prefer second-hand homes over new. In March, 83% of loans were for established dwellings, with only 17% opting for new housing. Similar ratios apply to first-home buyers.  
This explains the general failure of government grants in the residential property market. The current trend by state politicians is to reward people who build or buy new homes, but they’re boosting a tiny minority of buyers only. Grants will never have the desired impact when they not only single out first-time buyers but also only those who build new homes.  
Nevertheless, the March figures do show a rise in loans for building or buying new homes. Loans for the construction of new homes rose 4.6% and those for the purchase of new dwellings increased 21%.  
It’s always a mistake to make too much of month-to-month figures. Monthly data can jump about. It’s the longer-term trends that are important.  
But the 21% rise, seasonally-adjusted, in the number of loans for buying new homes in March tends to make nonsense of claims this month by the Housing Industry Association that building and construction has fallen every month for the past 34 months.  
What these figures show, taken in conjunction with other data, is that real estate is on a consistent upward path. But, thankfully, it’s a measured progression.  
Long may that continue.  
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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The property market is on a consistent upward path

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Presented here is another comprehensive chart pack illustrating the 'Great Australian Land Bubble'.

This is the second part in a series exploring 150 years of Australian housing prices; the first part is <a href="https://www.propertyobserver.com.au/residential/how-150-years-of-australian-housing-prices-shows-that-the-bubble-will-likely-come-to-an-end-philip-soos/2013021759324/Page-1" target="_blank">here</a>.

<img alt="soosmay14one" height="266" src="/images/stories/2013/05/soosmay14one.gif" width="470">

The most obvious indicator of a housing bubble is the long-term trend in housing prices, adjusted for inflation and quality. Prices increased by 123% between the trough in 1996 and apparent peak in 2010.

<img alt="soosmay14two1" height="264" src="/images/stories/2013/05/soosmay14two1.gif" width="470">

Between 1996 and 2010, real prices increased by 77% and 178% for Sydney and Melbourne, respectively. The growth in housing values for the latter city has far outstripped the former, which may be the result of Melbourne’s lower housing prices at the outset, allowing for higher prices before the interest repayment burden hits a wage-financed ceiling.

<img alt="soosmay14three" height="267" src="/images/stories/2013/05/soosmay14three.gif" width="470">

This is the “recovery” the spruikers are foaming about: housing prices tracking the rate of inflation. Further, the ABS index does not control for increases in the quality of the housing stock which would result in a .5 – 1% downward adjustment on an annual basis and does not take into account townhouses, apartments, and units.

[smartcode_project:default project_id=4807]

<img alt="soosmay14four" height="263" src="/images/stories/2013/05/soosmay14four.gif" width="470">

<img alt="soosmay14five" height="266" src="/images/stories/2013/05/soosmay14five.gif" width="470">

<img alt="soosmay14six" height="214" src="/images/stories/2013/05/soosmay14six.gif" width="470">

 

All of Australia’s capital cities have experienced a boom in real housing prices beginning in the latter half of the 1990s. At the top of the table are Melbourne and Perth; although Perth’s boom was 2 per cent greater than Melbourne’s, quality adjustments would deflate the index, resulting in Melbourne as the top performer.

<img alt="soosmay14seven" height="265" src="/images/stories/2013/05/soosmay14seven.gif" width="470">

<hr class="system-pagebreak">
More specifically, the housing bubble is a land bubble.

<img alt="soosmay14eight" height="265" src="/images/stories/2013/05/soosmay14eight.gif" width="470">

Strong falls in nominal land values have proven to be extremely destructive, especially when growth turns negative. The worst on record was during the Great Depression, and the 1990s fall resulted in a recession and the worst financial fallout since the 1890s depression. It again dipped in 2009 due to the effects of the GFC, and is currently at the lowest point in history bar the 1930s.

<img alt="soosmay14nine" height="265" src="/images/stories/2013/05/soosmay14nine.gif" width="470">

The 1990s bust was centred in the commercial land market and the bubble today is within the residential land market.

<img alt="soosmay14ten" height="264" src="/images/stories/2013/05/soosmay14ten.gif" width="470">

 

The entire land market is now worth $3.7 trillion, with residential land at $2.8 trillion.

<img alt="soosmay14eleven" height="267" src="/images/stories/2013/05/soosmay14eleven.gif" width="470">

 

The residential land bubble has resulted in abysmal gross yields, falling to a record low in 2007.

<img alt="soosmay14twelve" height="264" src="/images/stories/2013/05/soosmay14twelve.gif" width="470">

 

The price to earnings ratio for residential property indicates severe overvaluation. Just as economists and the “experts” ignored this fundamental metric during the Dot-Com bubble in 2000, it is treated the same today.

<img alt="soosmay14thirteen" height="265" src="/images/stories/2013/05/soosmay14thirteen.gif" width="470">

 

ABS estimates of residential yields show negative returns, only made tolerable by gains in real housing prices.

<img alt="soosmay14fourteen" height="265" src="/images/stories/2013/05/soosmay14fourteen.gif" width="470">

 

 

<hr class="system-pagebreak">
The latest ATO taxation statistics shows property investors have made their second-largest loss in history in 2011.

<img alt="soosmay14fifteen" height="265" src="/images/stories/2013/05/soosmay14fifteen.gif" width="470">

 

In 2011, the estimated cost of negative gearing as a tax expenditure was $3.7 billion.

<img alt="soosmay14sixteen" height="160" src="/images/stories/2013/05/soosmay14sixteen.gif" width="470">

Much of the housing boom has been fuelled via absurd tax expenditures (nominal prices), with differing methodologies explaining the variance in estimates.

<img alt="soosmay14seventeen" height="264" src="/images/stories/2013/05/soosmay14seventeen.gif" width="470">

 

The level of interest-only loans demonstrates the speculative impulse of property owners.

<img alt="soosmay14eighteen" height="264" src="/images/stories/2013/05/soosmay14eighteen.gif" width="470">

 

That 26% of all loans on offer had a loan to value ratio of 100% and above in 2008 illustrates the reckless nature of the banking and non-banking financial lenders.

<img alt="soosmay14nineteen" height="267" src="/images/stories/2013/05/soosmay14nineteen.gif" width="470">

 

The average LVR has remained at around 65 to 70% while housing prices have boomed, explaining why the average loan value recently reached $400,000 across Australia.

<img alt="soosmay14twenty" height="264" src="/images/stories/2013/05/soosmay14twenty.gif" width="470">

Despite the utter drivel disseminated today about public debt blowing out of all proportion, it is easily sustainable.

<img alt="soosmay14twentyone" height="265" src="/images/stories/2013/05/soosmay14twentyone.gif" width="470">

Public foreign debt is likewise at low and manageable levels, unlike private debt.

Philip Soos is a research Masters candidate at the School of Management and Marketing, Faculty of Business and Law at <a href="https://www.deakin.edu.au/" target="_blank">Deakin University</a>, and is a researcher for the Land Values Research Group, Melbourne.

This article originally appeared on <a href="https://www.macrobusiness.com.au/" rel="nofollow" target="_blank">Macrobusiness</a>.
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