The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

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?

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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GUEST OBSERVATION
Gone are the days when economic policy was adjusted once each year by the government in the budget and fine-tuned once each month at meetings of the Reserve Bank board.
The coroanvirus means we haven’t had a budget in <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/2020-21-budget-announcement">more than a year</a>. What the Reserve Bank has done to interest rates means its monthly board meetings matter less.
Governor Philip Lowe reaffirmed this week that monetary policy was <a href="https://www.rba.gov.au/speeches/2020/sp-gov-2020-07-21">on hold</a> for the foreseeable future. The bank’s cash rate is as low as it can go (actually well <a href="https://www.rba.gov.au/speeches/2020/images/sp-dg-2020-06-30-graph03.gif">below</a> its 0.25% target) and the bank will only intervene in the bond market if it has to in order to keep bond rates low (which it doesn’t — the demand for even the rush of new bond issues is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-17/record-australian-government-bond-auction-coronavirus-covid-19/12158390">much bigger</a> than the supply).
It has lobbed the ball to Frydenberg’s side of the court.
The only situation in which it might be brought back into play is if the government ran into funding problems, of which there is no sign whatsoever.
Holding the racket
The treasurer’s problem is sequencing, and we will are likely to get hints on how he’ll play it in the <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/update-economic-and-fiscal-outlook">economic statement</a> to be released today.
The first challenge was to limit the damage to the economy from the initial shock near the start of the year — to stop a vicious cycle of weaker spending, plummeting investment and soaring unemployment.
These self-reinforcing crises required a circuit breaker.
The emergency stimulus provided through Jobkeeper and Jobseeker has been a great success at putting a floor under incomes and demand.
The government ensured a basic income for people whose jobs were axed or at risk, kept hundreds of thousands attached to their jobs and bolstered household incomes despite a massive loss of activity. It gets a tick.
But these emergency measures will not get the economy going again once the crisis has eased.
Some argue they will stand in the way of a recovery if they keep people ensconced on benefits or attached to firms without futures.
A tricky transition
Phase two will require genuine fiscal stimulus: not a security blanket of the kind we have had, but a direct injection of money that will spark a new wave of investment and employment.
The trick is to sequence it properly.
The announced tapering of <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">JobKeeper</a> and <a href="https://theconversation.com/how-to-get-both-jobkeeper-and-jobseeker-143109">JobSeeker</a> will cut incomes and cut jobs as firms pay people less and realign staff levels in line with lower subsidies.
The government believes it has got it right, but it is forecasting an 80% drop in JobKeeper payments between September and the end of the year. It might not be a <a href="https://theconversation.com/whatll-happen-when-the-moneys-snatched-back-our-looming-coronavirus-support-cliff-138527">cliff</a> but it is still a very steep slope that will need to be matched by a sharp recovery in economic activity.
It needs to be ready to revise the timetable as needed. Its current projections look like a best case scenario.
An unknowable stage two
The second stage will involve a good deal of spending on infrastructure. But, especially without certainty about immigration, it is hard to tell what will be needed.
The pandemic will have changed the way we work and play. It is not yet clear whether people take advantage of remote working and move out of congested cities. it is not yet clear what it will mean for digital health, digital education and digital shopping.
An even-harder stage three
The final stage will involve structural reforms; alterations to tax settings, regulations and industrial relations. Which is where it gets really hard. It will require not only sequencing but getting agreement across the political divide.
No civil society can base its economic and social structures on the mere desire for efficiency. Fairness and social justice matter just as much, and they can best be guaranteed if the measures are pulled together as a package with trade-offs that protect the values that matter to Australians.
That’ll be Frydenberg’s biggest challenge. The future doesn’t need to be rushed out this week, or in the October Budget, but in the months to come it’ll have to take shape.
 
<a href="https://theconversation.com/profiles/warren-hogan-530397">Warren Hogan</a>, Industry Professor, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/frydenbergs-three-stage-economic-recovery-is-abominably-hard-to-get-right-142841">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Frydenberg's three-stage economic recovery is abominably hard to get right

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GUEST OBSERVER
What do <a href="https://bicyclensw.org.au/wp-content/uploads/2020/05/966-0320-Summary-of-Principles-for-Good-Bike-Infrastructure-070520.pdf">bike paths</a> and <a href="https://theconversation.com/city-temperatures-and-city-economics-a-hidden-relationship-between-sun-and-wind-and-profits-116064">walk-friendly streets</a> have to do with economic recovery from a pandemic-induced <a href="https://theconversation.com/how-will-the-coronavirus-recession-compare-with-the-worst-in-australias-history-136379">recession</a>? How could removing a car parking space <a href="https://www.bloomberg.com/news/articles/2015-03-13/every-study-ever-conducted-on-the-impact-converting-street-parking-into-bike-lanes-has-on-businesses">benefit a local business</a>? Instead of considering such questions, <a href="https://doi.org/10.1016/j.erss.2020.101486">building roads for cars</a> is often seen as the obvious answer to “kick-start” the economy.
In this article, we explain how cycling and walking infrastructure is a better investment for recovery. Every kilometre walked or cycled has an <a href="https://doi.org/10.1016/j.tranpol.2008.11.001">economic</a> <a href="https://www.atap.gov.au/mode-specific-guidance/active-travel/5-estimation-of-benefits">benefit</a> by reducing traffic congestion and vehicle operating costs, improving health and the environment, and saving on infrastructure spending. It’s <a href="https://www.euro.who.int/en/health-topics/disease-prevention/physical-activity/publications/2008/economic-analyses-of-transport-infrastructure-and-policies-including-health-effects-related-to-cycling-and-walking-a-systematic-review">estimated</a> every dollar invested in cycling infrastructure may reap up to five dollars’ worth of benefits.
In Australia, however, walking and cycling only receive between <a href="https://bicyclensw.org.au/lagging-behind-the-pack-correction/">0.1%</a> and <a href="https://theconversation.com/cycling-and-walking-are-short-changed-when-it-comes-to-transport-funding-in-australia-92574">2%</a> of transport budgets.
A sustained lack of investment is one reason only <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyReleaseDate/7DD5DC715B608612CA2581BF001F8404?OpenDocument">5% of trips to work</a> in Australia are by foot or bicycle. Yet the majority of city journeys are <a href="https://www.vichealth.vic.gov.au/-/media/ProgramsandProjects/PlanningHealthyEnvironments/Attachments/vhtransch3.pdf?la=en&amp;hash=BD49C15BA932B97CF11275C5EE7CEA85A17176F3">short enough to walk or cycle</a> for most people.
With <a href="https://theconversation.com/cars-rule-as-coronavirus-shakes-up-travel-trends-in-our-cities-142175">people now shunning public transport</a>, our roads are becoming even more congested. In a win-win scenario, walk-friendly and bike-friendly <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">design</a> can improve driving conditions, because fewer vehicles clog the roads. So instead of just building roads, is now not the time also to invest in <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">proper</a> walking and cycling infrastructure?
 
Road building versus path building
Road building is typically <a href="https://doi.org/10.1016/j.erss.2020.101486">depoliticised</a> and so is widely <a href="https://doi.org/10.1016/j.erss.2020.101486">seen as a legitimate way</a> to stimulate economic growth. But simply building more roads may not reduce traffic or speed up journey times in the long term.
Road building leads to more traffic through <a href="https://theconversation.com/do-more-roads-really-mean-less-congestion-for-commuters-39508">induced car use</a> and <a href="https://doi.org/10.1016/j.erss.2020.101486">car dependence</a>. If the default option for short journeys is driving, <a href="https://theconversation.com/rethinking-traffic-congestion-to-make-our-cities-more-like-the-places-we-want-them-to-be-111614">congestion ultimately gets worse</a> as the population grows.
Australians make <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyreleasedate/7DD5DC715B608612CA2581BF001F8404?OpenDocument">three-quarters</a> of all trips to work by car. Most have no passengers.
Yet more than half of car journeys in cities are <a href="https://www.vichealth.vic.gov.au/-/media/ProgramsandProjects/PlanningHealthyEnvironments/Attachments/vhtransch3.pdf?la=en&amp;hash=BD49C15BA932B97CF11275C5EE7CEA85A17176F3">shorter than 5km</a>. These trips would be <a href="https://www.atap.gov.au/mode-specific-guidance/active-travel/5-estimation-of-benefits">well suited to walking and cycling</a>. <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">Safe and enticing</a> walkable streets and cycling paths are key to inducing this swap.
Australia has already committed billions of dollars to <a href="https://www.smh.com.au/national/nsw/first-look-inside-sydney-s-3-billion-northconnex-tunnel-20200622-p554zh">road-building</a> projects as well as community infrastructure to “<a href="https://www.facebook.com/watch/live/?v=301290454378292&amp;ref=watch_permalink">grow out of the COVID-19 recession</a>”. Ultimately, though, if we want less traffic, we need to invest more of this money in walkable streetscapes and safe separated bike paths.
This investment will increase walking and cycling, leading to the many benefits that flow from these behaviours. And enticing people out of their <a href="https://theconversation.com/to-get-people-out-of-cars-we-need-to-know-why-they-drive-27279">comfy cars</a> for short journeys will result in fewer trips by car.
 
What transport budgets tell us
Comparing Australian budgets to other countries’ investment in active transport modes, we’re not doing well. Budgets would have to increase at least tenfold to achieve the United Nations recommendation that <a href="https://europa.eu/capacity4dev/file/31600/download?token=jJbDKsE3">20% of the transport budget</a> be invested in “non-motorised transport”.
And many countries have moved rapidly to commit major investments to cycling and walking since COVID-19. For example, <a href="https://static.rasset.ie/documents/news/2020/06/draft-programme-for-govt.pdf">Ireland</a> recently committed <a href="https://www.forbes.com/sites/carltonreid/2020/06/15/former-bike-shop-owner-soon-to-be-irelands-prime-minister-secures-1-million-a-day-for-5-years-boost-for-walking-and-cycling/#bd04c8a5c012">billions of euros</a> to walking and cycling infrastructure, equivalent to 20% of its transport budget.
Considering our lack of investment, it’s easy to see why Australia is car-dependent. This is despite Australia having both great <a href="https://www.sciencedirect.com/science/article/pii/S0966692314001951">weather</a> and <a href="https://bicyclensw.org.au/big-country-wider-car-lanes/">wide roads</a> to accommodate increased space for cycling and walking.
An equity issue
<a href="https://profile.id.com.au/australia/car-ownership">Many</a> Australians, for reasons of disadvantage, disability or age, may not have access to a car. The typical cost of owning a car is <a href="https://www.savings.com.au/car-loans/ongoing-car-costs">A$300 per week</a>. Increasing spending on walking and cycling infrastructure will therefore improve equity by helping low-income earners and others who need inexpensive mobility.
Poor active transport infrastructure disproportionately disadvantages women. They cycle less than men and report a need for the safety of separated cycleways among other infrastructure.
Poor infrastructure also <a href="https://aifs.gov.au/cfca/publications/relationship-between-transport-and-disadvantage-austr">limits</a> children, older adults and people living with a disability from accessing the services they need. Many older Australians depend on public transport and on the quality of the walking environment around their homes and their most common destinations.
On average, <a href="https://www.budgetdirect.com.au/car-insurance/research/car-accident-statistics">three people a day die</a> on Australian roads. Fewer car trips would help reduce the road toll. Similarly, increased investments in separated spaces for cycling and walking, as well as lower speeds on local streets, will reduce collisions between cars and bikes, as well as pedestrian-motorist conflicts.
COVID-19 provides a unique opportunity
COVID-19 has led to a <a href="https://www.theguardian.com/lifeandstyle/2020/apr/22/bicycles-are-the-new-toilet-paper-bike-sales-boom-as-coronavirus-lockdown-residents-crave-exercise">boom</a> in bicycle sales, <a href="https://t.co/uzUch4mVEH?amp=1">reduced</a> speed limits, wider footpaths, <a href="https://www.transport.nsw.gov.au/news-and-events/media-releases/new-pop-up-cycleways-to-help-us-get-back-to-work-and-school">pop-up</a> bicycle <a href="https://www.theage.com.au/national/victoria/car-parks-out-footpaths-and-cycling-lanes-in-as-city-prepares-for-post-covid-commuters-20200507-p54qrp">lanes</a>, increased walking and <a href="https://doi.org/10.32866/001c.13405">new cyclists</a>. Some of this has come about following <a href="https://www.newcastleherald.com.au/story/6736341/why-city-needs-to-be-put-on-a-road-diet/?cs=4464">calls</a> <a href="https://drive.google.com/file/d/1-dBhS2mhOX6y8aH6MWYfg1J483Bz8o8j/view">for</a> “<a href="https://www.spaceforhealth.org/">Space For Health</a>”.
We should “<a href="https://www.facebook.com/watch/live/?v=301290454378292&amp;ref=watch_permalink">grow out of the COVID-19 recession</a>” by building back better through investment to sustain this increase in walking and cycling. Our call to action is therefore:
<img src="https://images.theconversation.com/files/347548/original/file-20200715-27-3i49wz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="A call to action for COVID-19 Walking and Cycling Infrastructure Investment"> 
While Australia’s cities have invested in walking and cycling during the COVID-19 pandemic, it’s less than some <a href="https://www.forbes.com/sites/carltonreid/2020/02/10/prime-minister-boris-johnson-pledges-5-billion-in-new-cash-for-buses-and-bicycle-infrastructure/#8b1ff706df6f">other</a> countries have invested. For example, Paris has accelerated the installation of <a href="https://www.forbes.com/sites/carltonreid/2020/04/22/paris-to-create-650-kilometers-of-pop-up-corona-cycleways-for-post-lockdown-travel/#13d8daa654d4">650km</a> of cycleways by removing <a href="https://www.forbes.com/sites/carltonreid/2020/04/22/paris-to-create-650-kilometers-of-pop-up-corona-cycleways-for-post-lockdown-travel/#13d8daa654d4">72% of its on-street parking</a>. Scotland is proposing to “<a href="https://www.livingstreets.org.uk/media/5413/walk-back-better-national-walking-strategy-delivery-forum-statement.pdf">Walk Back Better</a>” from COVID-19
It is good to see investment in Australian cities increasing. But now is the time to help kick-start our COVID-19 recovery by investing more in walking and cycling, and to reap the many benefits for the Australian community.<img src="https://counter.theconversation.com/content/142176/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/matthew-mclaughlin-346591">Matthew Mclaughlin</a>, PhD Candidate, School of Medicine and Public Health, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a> and <a href="https://theconversation.com/profiles/trevor-shilton-306978">Trevor Shilton</a>, Adjunct Professor, School of Public Health, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cycling-and-walking-can-help-drive-australias-recovery-but-not-with-less-than-2-of-transport-budgets-142176">original article</a>.
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Cycling and walking can help drive Australia's recovery

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Not every Australian housing market has performed the same way since the onset of the COVID-19 pandemic.
The latest CoreLogic Home Value Index results revealed that since March, Melbourne property values fell 3.5%. Meanwhile, the ACT dwelling market reached a record high.
From June to July, the rate of decline eased across Perth from -1.1% to -0.6%, but deepened across Melbourne and Sydney.
<img src="https://www.urban.com.au/images/2020/8/6/Cumulative%20CL.JPG" alt="">
The chart above shows the varied trajectories of capital city markets from the end of March.
The end of March is a good place for dating the ‘start’ of the COVID-19 pandemic in Australia, because Australia recorded its 100th case of COVID-19 on the 14th of the month, and the 25th of March saw the national rollout of stage 2 restrictions, which created much of the economic shock as business activity slowed.
Melbourne has so far seen the largest cumulative declines in property values since March (3.5%). This was led by a 5.2% decline across the Inner East region.
As has been explored in recent weeks, the steeper decline across the Melbourne market is two-fold. Cyclically, Melbourne property is subject to more volatile growth rates, and is also presenting strong declines off the back of very high growth rates through the previous upswing.
Structurally, there has been an enormous demand shock to the Melbourne property market with the closure of international borders, where Melbourne previously had the highest level of net overseas migration of the capital city markets. This is similar to the Sydney housing market, which received the second highest volume of net interstate migrants over 2018-19.
Victoria has also seen the largest decline in payroll jobs of the states and territories, according to ABS data. Conversely, the ACT has seen property value increases of 1.3% since March. While the performance of the ACT market may seem like an anomaly, the ACT dwelling market is one of the few markets performing as may be expected amid the record low cash rate setting.
RBA research has noted that reductions in the cash rate typically increase property values over time, because debt becomes cheaper and purchasing capacity increases.
However, it is still striking that 70% of food and accommodation employers reported a reduction in staff hours. Food and accommodation employs about 8% of Australians, or about 1.2 million people. This is where a more granular view of employment data can highlight risks to the property market.
The detailed quarterly survey data provides insight into what industry residents work in, at the SA4 level. The February edition suggests that most food and accommodation workers are highly concentrated in Sydney’s Inner West, followed by the Sunshine Coast and the Coffs Harbour-Grafton region.
This market has likely been buoyed by the relative stability in employment across sectors where workers are on higher incomes, and are more likely to be home owners or prospective buyers. For example, ABS payroll data shows the number of jobs across the financial and insurance industry in the ACT has actually increased 0.7% since the start of the pandemic.
A ‘two tiered’ state of the labour market is highlighted by the fact the ACT accommodation and food services sector has seen the largest rate of decline of the states and territories. This industry is more likely to be comprised of renters, and rental values have fallen half a percent across the ACT since March, with larger falls across the unit sector (-1.0%). Smaller housing markets have seen better capital growth results since March.
Adelaide is a relatively steady market that has traditionally not seen volatile movements in response to negative economic shocks. This may be partly to do with the relatively low level of investment activity across the market. CoreLogic estimates that the portion of dwellings across Adelaide that were owned by investors as of July 2020 was 28.9%, compared with 34.5% nationally. While Adelaide has seen modest growth during the pandemic, this has not traditionally been a market with strong capital growth returns.
Annualised growth across Adelaide dwellings over the past 10 years was 1.3%, compared with 3.0% across the combined capital cities market. It is also worth noting that while cumulative price changes show 4 of the 8 capital city markets have not declined in value since March, almost all markets are showing a slowdown in growth rates. This suggests that, as with past downturns, most housing markets will be subject to a downswing phase.
 What to expect going forward
Looking forward, there are a variety of factors that will influence the outlook for home values. Of immediate concern is the steepening curve of the virus in Victoria.
Considering Victoria accounts for around one quarter of the nation’s economy, the stage four lockdown has already dampened both consumer and business sentiment nationally and the interruption to economic activity will deepen and lengthen Australia’s recession.
Cities where labour markets are more impacted are also likely to under-perform, as will those with more significant exposure to overseas migration as a source of housing demand.
As federal government fiscal support moves from around $18 billion per month to around $3 billion from October, housing market conditions will be tested more broadly; this is when we are likely to see a rise in the number of households facing financial distress and a lift in urgent sales.
The expiry of mortgage repayment holidays is another downside factor for the market. Pre-COVID, mortgage arrears remained around 1% of the mortgage book, but with unemployment expected to reach 10%, along with less fiscal support and an expectation that mortgagors taking a repayment holiday will need to face up to their debts by April next year, it’s reasonable to expect a sharp rise in mortgage arrears which could see a lift in distressed properties hitting the market. The RBA has previously noted for every 1 per cent rise in the unemployment rate, 90 day mortgage arrears generally increase by 80 basis points.
 
If unemployment rises to 10%, that implies a 90 day mortgage arrears rate around 5%. Arguably, this may be an overstatement, considering weak labour market conditions are skewed to more casualised workers who tend to be renters rather than home owners.
The outlook for both the economy and housing markets remains extremely uncertain, but risk remains skewed to the downside.
ELIZA OWEN is the Head of Research Australia at CoreLogic
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pchatterjee-seVgoiQgz5

Why capital cities performed differently amid COVID-19: CoreLogic's Eliza Owen

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GUEST OBSERVER
We’ve heard a lot about what the present crisis will do to <a href="https://propertyupdate.com.au/coronavirus-how-will-it-impact-australias-property-markets/">home</a> <a href="https://www.theguardian.com/australia-news/2020/mar/16/how-will-coronavirus-affect-australias-real-estate-market-and-house-prices">prices</a>, less about what it will do to <a href="https://www.commercialrealestate.com.au/news/office-property-now-in-covid-19-firing-line-969479/">commercial property</a> prices.
Commercial properties include office buildings, shopping centres, hotels and warehouses.
They account for <a href="https://www.superannuation.asn.au/ArticleDocuments/269/SuperStats-Jun2020.pdf.aspx?Embed=Y">8%</a> of the assets of Australian super funds.
<a href="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Melbourne’s Wesley Place commercial precinct is owned by a property trust.
If their values drop (and they are falling) it will affect all of us, especially those about to retire or already retired.
Until COVID-19, commercial properties were widely regarded as safe investments. They offered both reliable income streams and capital gains as population growth increased the value of scarce real estate.
With the return on government bonds falling <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598">below 1%</a> they ought to be becoming more attractive, but offices are empty, their future uncertain, high end shopping centres are receiving less traffic, and hotels have entire floors unused.
<a href="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In July the number of mobile phones active in Sydney’s central business district was down <a href="https://www.roymorgan.com/findings/8486-roy-morgan-ubermedia-covid-19-movement-sydney-june-27-2020-202008040143">52%</a> on January and February. In Melbourne’s CBD, before the stage 4 lockdown, mobile phone traffic was down <a href="https://www.roymorgan.com/findings/8476-roy-morgan-ubermedia-covid-19-movement-melbourne-july-28-2020-202007270623">65%</a>.
<a href="https://www.smh.com.au/business/companies/data-centres-in-hot-demand-with-remote-working-on-the-rise-20200804-p55ih6">Data centres</a> are among the few commercial property bright spots – we are moving more data – along with distribution centres and <a href="https://www.smh.com.au/business/companies/neighbourhood-malls-flourish-as-shoppers-stay-local-20200723-p55eto">regional shopping centres</a> – we are shopping online and closer to home.
Over the course of the year the values of commercial property trusts listed on the Australian Securities Exchange have slid <a href="https://www.asx.com.au/asx/share-price-research/company/DXS">29%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/GPT">32%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/MGR">34%</a>,<a href="https://www.asx.com.au/asx/share-price-research/company/SCG">48%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/VCX#company-top">52%</a>, and <a href="https://www.asx.com.au/asx/share-price-research/company/URW">69%</a>.
<a href="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Share price of GPT Group. GPT owns and manages retail, office and logistics properties. 
For super funds with 8% of their assets in commercial property, a decline of 25% in values knocks 2% off their assets — A$54 billion across the industry as a whole.
In the only other big downturn since the advent of Australia’s superannuation system, the global financial crisis, commercial property offered the funds stability while shares were volatile.
Not so this time. The value of the commercial property is diving along with the stock market with just as uncertain a future.<img src="https://counter.theconversation.com/content/143824/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/theodore-connell-variy-1142418">Theodore Connell-Variy</a>, Lecturer, School of Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/tony-mcgough-1142730">Tony McGough</a>, Senior Lecturer, Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/warning-what-covid-is-doing-to-commercial-property-it-is-about-to-do-to-super-funds-143824">original article</a>.
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What COVID is doing to commercial property it is about to do to super funds

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With a time cap on the <a href="/news/everything-you-need-to-know-about-australias-25-000-homebuilder-grant-how-much-off-the-plan-homebuyers-could-save">HomeBuilder Grant</a>, now is a great time to be searching for your dream home if you want to claim the government incentive before it expires. 

Here are five properties in Melbourne under $750,000, which <a href="/guides/buy-now-save-20-urban-listings-eligible-for-the-25-000-homebuilder-grant">may be eligible</a> for the HomeBuilder Grant. To find out about eligibility criteria, reach out to the sales agent via the project page. 

<h2>1. <a href="/buildings/haven-townhomes-42-homeleigh-road-keysborough">Haven Townhomes</a></h2>

What's available: 3 &amp; 4-bedroom homes 

Price: Starting at $675,000

Haven Townhomes are located at: 42 Homeleigh Road, Keysborough

<figure><a href="/buildings/haven-townhomes-42-homeleigh-road-keysborough"><img alt="" class="image-article_full_width_580px" height="350" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/haven-townhomes-42-homeleigh-road-keysborough-679e1b1f085589d55c014206f4f7e0e5.jpg?itok=Br7Iseg-" width="580"></a></figure><figure><a href="/buildings/haven-townhomes-42-homeleigh-road-keysborough"><img alt="" class="image-article_full_width_580px" height="387" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/haven-townhomes-42-homeleigh-road-keysborough-adca4feb47bd9a8644665d10b0156c74.jpg?itok=ZWCQpHM8" width="580"></a></figure>Situated surrounded by thriving wetlands and meandering walking trails, each of the 59 Haven Townhomes are in a prime position for stunning views, access to nature and world-class amenities. Each property features stunning oak timber flooring, stone benchtops, ILVE appliances and luxurious open-plan layouts.

<h2>2. <a href="/new-apartments/20-24-heathmere-crescent-endeavour-hills-vic">Heathmere on the Park</a></h2>

What's available: 3 &amp; 4-bedroom homes 

Price: Starting at $640,000

Heathmere on the Park is located at: 20-24 Heathmere Crescent, Endeavour Hills 

<figure><a href="/new-apartments/20-24-heathmere-crescent-endeavour-hills-vic"><img alt="" class="image-article_full_width_580px" height="348" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/heathmere-on-the-park-20-24-heathmere-crescent-endeavour-hills-34a64c06a79491d1030efd2fc827460f.png?itok=uhAD1AO8" width="580"></a></figure><figure><a href="/new-apartments/20-24-heathmere-crescent-endeavour-hills-vic"><img alt="" class="image-article_full_width_580px" height="387" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/heathmere-on-the-park-20-24-heathmere-crescent-endeavour-hills-d5f1e2bde9597798d3e887e70e68a3b3_0.jpg?itok=c5tm2es_" width="580"></a></figure>Tucked away in Melbourne's Endeavour Hills, is Heathmere on the Park, the latest development to be delivered by CasUrban. With a boutique collection of just eight homes, these homes aren't likely to be on the market long. Designed by Parallel Workshop Architecture, each property boasts modern liveability. Living areas are sun-drenched and spacious, creating a sanctuary for residents to return home to each day. 

<h2>3. <a href="/new-townhouses/carter-place-townhomes-cnr-barwon-heads-rd-central-blvd-armstrong-creek">Carter Place Townhomes</a></h2>

What's available: 3-bedroom homes 

Price: Starting at $432,000

Carter Place Townhomes are located at: Cnr Barwon Heads Rd &amp; Central Blvd, Armstrong Creek

<figure><a href="/new-townhouses/carter-place-townhomes-cnr-barwon-heads-rd-central-blvd-armstrong-creek"><img alt="" class="image-article_full_width_580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/carter-place-townhomes-48-central-boulevard-armstrong-creek-5cd8fc8cc5047f60feaf389e8bc4495b_0.jpg?itok=66TxYVUB" width="580"></a></figure><figure><a href="/new-townhouses/carter-place-townhomes-cnr-barwon-heads-rd-central-blvd-armstrong-creek"><img alt="" class="image-article_full_width_580px" height="435" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/carter-place-townhomes-48-central-boulevard-armstrong-creek-a5c8d89a8f4330a5d2ea1327523984da.jpg?itok=u7uSp1qn" width="580"></a></figure>Armstrong Creek is a tranquil and picturesque community where vibrant city living meets a relaxed beach lifestyle. Just moments from the water, Carter Place residents will love the relaxed vibe of the neighbourhood and will enjoy entertaining at their spacious, modern townhome.

<h2>4. <a href="/new-townhouses/st-a-1-griffiths-street-st-albans">St. A</a></h2>

What's available: 2, 3 &amp; 4-bedroom homes

Price: Starting at $549,000

St. A is located at: 10 McKechnie Street, St Albans

<figure><a href="/new-townhouses/st-a-1-griffiths-street-st-albans"><img alt="" class="image-article_full_width_580px" height="304" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/st-a-10-mckechnie-street-st-albans-42e8b87e5367c66d772c8261833858a6.png?itok=KkNK4f7A" width="580"></a></figure><figure><a href="/new-townhouses/st-a-1-griffiths-street-st-albans"><img alt="" class="image-article_full_width_580px" height="304" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/st-a-10-mckechnie-street-st-albans-517d07afc353822f0f540697c08c1a55.png?itok=B8mGSJiw" width="580"></a></figure>Setting a new benchmark for luxury living in St Albans is St. A – the new residential development to be delivered by Cedar Woods. Architecturally designed by DKO, St A. features 254 homes which have been crafted to give residents an elevated lifestyle, with all the modern luxuries and timeless style.

<h2>5. <a href="/new-townhouses/orion-at-braybrook-34-holzer-cres-braybrook-vic-3019">Orion at Baybrook</a></h2>

What's available: 2, 3 &amp; 4-bedroom homes 

Price: Starting at $589,000

Orion at Baybrook is located at: 2A Beachley Street, Braybrook

<figure><a href="/new-townhouses/orion-at-braybrook-34-holzer-cres-braybrook-vic-3019"><img alt="" class="image-article_full_width_580px" height="419" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/orion-at-braybrook-2a-beachley-street-braybrook-6232cb871e5cd1cad8ee5414e8c5df65.jpg?itok=i6DOOptC" width="580"></a></figure><figure><a href="/new-townhouses/orion-at-braybrook-34-holzer-cres-braybrook-vic-3019"><img alt="" class="image-article_full_width_580px" height="265" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/orion-at-braybrook-2a-beachley-street-braybrook-87368c84809de876ec5a0506fef683eb.jpg?itok=nzrJwGs3" width="580"></a></figure>Orion at Baybrook is an exclusive collection of premium three-bedroom townhomes. Each home offers expansive floorplans, elegant interior design and modern open-plan living. Bright and spacious kitchens are perfect for entertaining with generous stone benchtops, an abundance of storage, high-quality joinery and European appliances. 
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Olivia Round

5 Melbourne townhouse listings under $750,000

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At its meeting today, the Board decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
The global economy is experiencing a severe contraction as countries seek to contain the coronavirus. Even though the worst of this contraction has now passed, the outlook remains highly uncertain. The recovery is expected to be only gradual and its shape is dependent on containment of the virus. While infection rates have declined in some countries, they are still very high and rising in others. International trade remains weak, although there has been a strong recovery in industrial activity in China over recent months.
Globally, conditions in financial markets remain accommodative. Volatility has declined and there have been large raisings of both debt and equity. The prices of many assets have risen substantially despite the high level of uncertainty about the economic outlook. Bond yields remain at historically low levels.
The Bank's mid-March package of support for the Australian economy is working as expected. There is a very high level of liquidity in the Australian financial system and borrowing rates are at historical lows. Authorised deposit-taking institutions are continuing to draw on the Term Funding Facility, with total drawings to date of around $29 billion. Further use of this facility is expected over coming months.
Government bond markets are functioning normally alongside a significant increase in issuance. The yield on 3-year Australian Government Securities (AGS) has been consistent with the target of around 25 basis points. The yield has, however, been a little higher than 25 basis points over recent weeks. Given this, tomorrow the Bank will purchase AGS in the secondary market to ensure that the yield on 3-year bonds remains consistent with the target. Further purchases will be undertaken as necessary. The yield target will remain in place until progress is being made towards the goals for full employment and inflation.
The Australian economy is going through a very difficult period and is experiencing the biggest contraction since the 1930s. As difficult as this is, the downturn is not as severe as earlier expected and a recovery is now underway in most of Australia. This recovery is, however, likely to be both uneven and bumpy, with the coronavirus outbreak in Victoria having a major effect on the Victorian economy. Given the uncertainties about the overall outlook, the Board considered a range of scenarios at its meeting. In the baseline scenario, output falls by 6 per cent over 2020 and then grows by 5 per cent over the following year. In this scenario, the unemployment rate rises to around 10 per cent later in 2020 due to further job losses in Victoria and more people elsewhere in Australia looking for jobs. Over the following couple of years, the unemployment rate is expected to decline gradually to around 7 per cent.
The Board also considered other scenarios. A stronger recovery is possible if progress is made in containing the virus in the near future. This progress would support an improvement in confidence and a less cautious approach by households and businesses to their spending. On the other hand, if Australia and other countries were to experience further widespread lockdowns, the recovery in both output and the labour market would be delayed. Details on these scenarios will be provided in the <cite>Statement on Monetary Policy</cite> on 7 August.
In each of the scenarios considered by the Board, inflation remains below 2 per cent over the next couple of years. In the most recent quarter, CPI inflation fell to –0.3 per cent in year-ended terms, reflecting lower oil prices and the effects of various policy measures, including the decisions to make child care and some pre-school free for a period. Inflation is expected to return to positive territory in the current quarter. Beyond that, given the ongoing spare capacity in the economy, inflation is expected to average between 1 and 1½ per cent over the next couple of years.
As Australians deal with the coronavirus, the economy is being supported by the substantial, coordinated and unprecedented easing of fiscal and monetary policy. The Australian Government's recent announcement that various income support measures will be extended is a welcome development and will support aggregate demand. It is likely that fiscal and monetary stimulus will be required for some time given the outlook for the economy and the labour market.
The Board is committed to do what it can to support jobs, incomes and businesses in Australia. Its actions are keeping funding costs low and assisting with the supply of credit to households and businesses. This accommodative approach will be maintained as long as it is required. The Board will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2–3 per cent target band.
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jrobinson-rf4aSBido9

Australia's bumpy and uneven recovery: RBA Governor Philip Lowe's August 2020 statement

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The RBA kept interest rates at a record low 0.25 per cent at its August meeting, maintaining the current policy settings.
Experts in Finder.com.au's RBA Cash Rate Survey suggest the economy is yet to "turn a corner", despite RBA governor Philip Lowe's comments after the June ABS figures that it had done exactly that.
More than half of the 26 respondents disagree with Lowe's statement, saying that the total economic impact is impossible to forecast with a second outbreak unfolding across Victoria and NSW.
Graham Cooke, insights manager at Finder, said that Australia’s economic fate rests on how well authorities can limit the spread of the virus.
“The virus situation has rapidly deteriorated since June. 
“As Melbourne enters a Stage 4 lockdown, businesses are once again bracing for restrictions and closures that will no doubt send economic shock waves across the country", Cooke added.
Rebecca Cassells of Bankwest Curtin Economics Centre said that the recent surge in infections is threatening retail recovery.
"Thousands of jobs were recovered in June, retail sales improved and business and consumer confidence was up. But virus outbreaks in Victoria and NSW have very rapidly undone this trajectory", Cassells said.
“JobKeeper and JobSeeker offer some economic certainty, but getting the virus back under control will offer more,” she said.
Patrick Coghlan, chief executive at CreditorWatch, says the holding of the interest rates is sympathetic to the balancing act the Australian economy faces.
He does suggest however that there is concern that by extending the likes of the government’s business stimulus packages, we are simply kicking the can down the road.
"Once the likes of JobKeeper, JobSeeker, Mortgage Holidays and Safe Harbour do eventually come to an end, there will be a seismic shock to the economy as companies will have to either fend for themselves or admit defeat", Coghlan says.
“With ten per cent of all businesses in Australia in danger of failing because of lack of cash, we could potentially end up seeing ten years’ worth of administration in the next six months."
 
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RBA holds official cash rate at August meeting

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Some 43 per cent of mortgage holders are looking to refinance in light of COVID-19 and record low rates, according to a new survey from RateCity.com.au.
By comparison, a 2018 RateCity survey found just 19 per cent of borrowers were looking to refinance, following the Banking Royal Commission.
RateCity.com.au analysis of RBA data estimates that existing owner occupiers are paying over one per cent more than the lowest variable rate in market.
Sally Tindall, research director at RateCity.com.au, said the loyalty tax gets worse the longer you stick with your bank.
“It’s taken a pandemic to get people to shift their mindset, but hopefully we’ll come out of it more budget-conscious and less complacent towards our mortgages,” Tindall said.
“People won’t just tolerate overpaying anymore.
“The banks are pulling out all the stops too, putting some of the biggest cash back offers and rock-bottom rates on the table and adding more flexibility on fixed rate loans to attract new business – and it is working.
“The latest figures from the ABS for May showed refinancing increased 63 per cent compared to last year, and our research suggests it is not losing steam. 
“The best way you can get a rate cut is to turn yourself into a new customer and switch. If you aren’t in a position to refinance, pick up the phone and try some old-fashioned haggling with your bank,” she said.
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wdavis-8cCN98p7xp

Mortgage holders looking to refinance doubles in two years: RateCity

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EXPERT OBSERVER
The stubborn resistance of house prices to the negative forces on the pandemic, and the economic downturn it has created, is shown by the month by month data from CoreLogic – with the latest figures published today (3 August).
An analysis of the monthly figures for the past five months covering the pandemic period shows that - generally speaking - there has been a gradual deterioration in price outcomes. Looking at the average national result, house prices were up 0.7% in March, up by a smaller amount in April, down marginally in May, down by a larger amount in June and then a similar, though slightly better, result in July.
But looking at the figures at a more local level shows that some locations have been more resilient than others. The latest figures show that half the market jurisdictions managed to produce some level of growth in their house prices during July.
The “jurisdictions” are the eight capital cities and the seven state or territory regional markets. Of those 15 jurisdictions, seven produced some level of growth in house prices in July. Remarkable in the circumstances.
Those figures illustrate a point I have making regularly in recent months: that regional markets are generally doing better than capital city markets. 
In July, five of the seven regional jurisdictions produced house price growth, compared to two of the eight capital city markets.
The figures from the past five months deliver other important messages. One is that month-to-month figures can be highly erratic and we need to be careful about placing too much significance on one month’s results.
In Darwin, for example, house prices rose in April, fell in May, rose in June and fell in July (according to the CoreLogic data - other sources have different figures).
In Hobart, house prices rose in March, fell in April, rose in May and June, then fell in July. Again, if you believe the CoreLogic figures.
Another message in the data is that we don’t have a single market in Australia. We have many different markets with different outcomes from one market to the next. 
That’s an important point because media will report that Australian property prices fell in July, when in reality there were price rises in Canberra, Adelaide and five regional jurisdictions. Again, according to these figures.
Looking at the longer-term patterns, some markets stand out for their consistency and strong resistance to the national economic forces.
Canberra has delivered some level of growth in each of the past five months. This tends to confirm our view that the national capital is the most Covid-proof city in the nation.
Adelaide has also shown great consistency, with small rises in four of the past five months, including in July. This confirms my positive opinion about the solidity of this under-rated city.
Two of the regional markets, South Australia and Tasmania, have delivered price growth in all of the past five months. And two others - NSW and Queensland - have achieved growth in four of the past five months, including during July.
Central message: prices have not collapsed anywhere and some places continue to grow.
It’s a different message to one delivered by mainstream media. One major newspaper has reacted to the latest figures with the claim that they show that house prices are “plunging” right across Australia.
Nothing of the sort is happening. 
The CoreLogic figures indicate that house prices are higher than they were a year ago in 11 of the 15 market jurisdictions.
That simple truth demonstrates that the forecasts back in March-April of a dramatic and immediate collapse of house prices was sensationalist nonsense.
 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Australian house prices resilient in COVID-19 downturn: Hotspotting's Terry Ryder

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A mortgagee property in Queensland’s Worongary has come onto the market for August auction.
The 3,581 square metre block is conveniently located close-by Worongary shopping centre, schools and the motorway.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-07-30%20at%204.42.46%20pm.png" alt="">
The property, located at <a href="https://www.realestate.com.au/property-house-qld-worongary-134093498">101 Mudgeeraba Road</a>, offers dual living with a four-bedroom, three-bathroom main residence and a self-contained flat.
Positioned separately from the house, the two-bedroom, one-bathroom granny flat is perfect for family, guest accommodation or as a source of rental income.
Its features include an expansive property and hardwood flooring.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-07-30%20at%204.42.41%20pm.png" alt="">
The home last traded in 2014, selling for $570,000.
LJ Hooker agents Karl Grossman and Chantal Damiani hold the listing.
The auction will be held onsite on August 22 at 10am.
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Latest Expert Insights

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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Editor's Picks

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Guides

Developments

New apartments

New townhouses

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