<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Joel Robinson

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

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 OBSERVER
The roar of the crowd at the stadium. Jostling to see the New Year fireworks in the public square. Captivated by the band at the pub. Meeting mates outside the train station. These experiences conjure sites of importance for each of us.
As a Melburnian, places that come to mind for me are the MCG, Federation Square, Flinders Street Station and Festival Hall. Sydneysiders could be thinking about the <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/223371661">Opera House</a>, Central Station, the Enmore Theatre and Homebush Stadium.
It’s people that make these places important. Without crowds, an idling Gabba in Brisbane or an empty Cottesloe Beach in Perth is a less exciting place.
Each of the above places possesses outstanding social value. It’s why state heritage laws and local planning schemes can protect places of community importance.
However, this <a href="https://researchoutput.csu.edu.au/en/publications/contested-space-social-value-and-the-assessment-of-cultural-signi">does not happen enough</a>. Of more than 2,300 items on the <a href="https://heritagecouncil.vic.gov.au/heritage-protection/levels-of-protection/">Victorian Heritage Register</a>, for instance, about 10% are listed for their social value.
Although data are scarce, the numbers are likely similar for heritage lists across Australia. This leaves treasured meeting places – <a href="https://theconversation.com/once-a-building-is-destroyed-can-the-loss-of-a-place-like-the-corkman-be-undone-112864">neighbourhood pubs are a prime example</a> – at risk.
With restrictions on public gatherings, urban heritage places of social significance have more allure than ever. Just as we are distanced from each other, we are separated from these places. Their temporary absence in our lives, and the sense of community and comforting memories we associate with them, only add to their cultural significance.
 
However, heritage typically gives more priority to the historic and aesthetic integrity of older fabric, buildings and structures than to ongoing social and cultural relationships <a href="https://www.researchgate.net/publication/342624259_Place_and_Heritage_Conservation">between people and built places</a>.
A lack of participatory methods to involve the public in heritage decisions is another problem with how authorities and the private sector manage the cultural values of historic places.
Two landmark cases
For more than a century, authorities <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/220585029">typically safeguarded</a> monumental architecture and places embodying the <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/version/44846813">apparent progress of the Australian nation</a>, such as public buildings and memorials.
Since the 1970s, <a href="https://australia.icomos.org/publications/charters/">additional cultural values</a> – social, scientific and spiritual – have been inscribed in heritage practice. Yet, as I explore in <a href="https://search.informit.com.au/documentSummary;dn=997484554716146;res=IELAPA">my research</a>, traditional ideas of aesthetic and historic value have been privileged in conservation. Other significant cultural values have not been treated as equally important.
The introduction of social value saved Flinders Street Station when it was threatened with demolition in 1972 for high-rise development.
<a href="https://images.theconversation.com/files/333975/original/file-20200511-49584-eahqrx.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/333975/original/file-20200511-49584-eahqrx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Model of Flinders Gate Project, 1974. Wolfgang Sievers/State Library of Victoria (reproduced with SLV permission)
The National Trust wanted to preserve the train station. But its <a href="https://search.informit.com.au/documentSummary;dn=997484554716146;res=IELAPA">committee of architects</a> perceived it as an “architectural monstrosity” because its Edwardian Baroque style was out of favour.
After long deliberations, the National Trust deemed the station a landmark […] a major focal point of Melbourne’s city life [with] the Clocks! section [sic] inextricably bound to the social fabric of Melbourne and Victoria.
<img src="https://images.theconversation.com/files/334232/original/file-20200512-66707-1yumqxu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
The famous clocks overlook the intersection of Flinders and Swanston streets, pictured here in the early 1970s. Rennie Ellis/State Library of Victoria (reproduced with SLV permission)
So Flinders Street Station was protected for its lasting importance to Melburnians. Only later would it be recognised for its architecture.
Despite its social value, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-11-10/science-of-flinders-street-station-new-look-paint/9135080">when the station was repainted</a> in original colours in 2017, there was little public engagement in this decision. <a href="https://www.sciencedirect.com/science/article/pii/S0272494412000424">Research</a> on people’s perceptions of historic places has shown they often prefer agedness and wornness over traditional conservation works that make places look new again: the <a href="https://books.google.com.au/books?id=0y9jCHHdKokC&amp;pg=PA119&amp;lpg=PA119&amp;dq=%22patina+of+age%22+ruskin&amp;source=bl&amp;ots=7C2jBgWES3&amp;sig=ACfU3U2AjpX-Zcee--19v8t1KMOfx76CIQ&amp;hl=en&amp;sa=X&amp;ved=2ahUKEwiZhe_zh67qAhWCyDgGHUEKAtQQ6AEwAnoECDAQAQ#v=onepage&amp;q=%22patina%20of%20age%22%20ruskin&amp;f=false">patina of age</a> has value. <a href="https://www.propertyobserver.com.au/https://www.taylorfrancis.com/books/e/9780429506352">Public participation</a> could have resulted in a different conservation decision based on Melburnians’ preferred colours and textures.
Another landmark case involves the MCG. Authorities rejected a comprehensive heritage listing for the stadium in the 1980s, when the Great Southern Stand was developed, because a listing might have prevented redevelopment.
The MCG designation was reconsidered, however, in the lead-up to the 2006 Commonwealth Games. It then met revised thresholds to be fully state-listed. It was “<a href="https://www.newspapers.com/newspage/126894666/">the matches and public not the buildings</a>” that created the heritage importance.
And to retain the cultural importance of the MCG in the future lives of Melburnians, flexibility on the stands was required. With the support of club members and heritage authorities, the <a href="https://www.propertyobserver.com.au/https://vhd.heritagecouncil.vic.gov.au/places/64493">1928 Members’ Pavilion</a> made way for the new Northern Stand.
<img src="https://images.theconversation.com/files/336626/original/file-20200521-102667-ajzwnp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
 Ian Harrison Hill, ‘Demolition of Members’ Stand [Melbourne Cricket Ground]’, photograph, 2004. State Library of Victoria, Pictures Collection, H2004.24/4 (reproduced with the permission of the State Library of Victoria and Ian Harrison Hill)
Social value in the past, present and future
At the MCG, social value was projected into the future, allowing for flexibility during redevelopment.
At Flinders Street Station, social value was perceived as developing in the past. The recent station works demonstrated that, even when public places are heritage-listed, their management often does not include participatory methods.
Neighbourhood pubs, which are being <a href="http://www.theage.com.au/interactive/2017/last-drinks/">rapidly redeveloped</a>, are another form of at-risk public place with great social value. Pubs become important to people for their longevity as gathering places, often more so than for their architecture, facades and interiors.
<img src="https://images.theconversation.com/files/345460/original/file-20200703-33926-1dxq2fv.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
 The now-demolished historic Greyhound Hotel in St Kilda had potential to inspire the public realm in future development works. National Trust of Australia (Victoria)
The National Trust is <a href="http://www.trustadvocate.org.au/national-trust-backs-city-of-port-phillip-call-to-protect-social-heritage/">seeking to conserve</a> some pubs. However, authorities have far more power to mandate the continuity of historic places’ built fabric rather than ensuring redevelopments <a href="https://doi.org/10.1080/13527258.2017.1399283">retain community spaces</a>.
Even when this does happen, opportunities can be missed <a href="https://www.heraldsun.com.au/leader/south-east/search-begins-for-venue-managers-for-reborn-london-hotel-in-port-melbourne/news-story/596d9585d7ee7d55c4d697c322a3d11f">to use historic elements of the demolished buildings</a>. Participatory and social approaches to heritage have unrealised potential to guide the design and use of the future public realm.
A major step towards placing people at the heart of heritage would be to mandate and fund a diversity of participatory methods in state and local heritage governance. It’s important, too, to embed community participation across private sector heritage practice. Only by working towards more holistically conserving the broader cultural values of historic places can heritage achieve cultural stewardship for people.<img src="https://counter.theconversation.com/content/138128/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/james-lesh-257650">James Lesh</a>, Postdoctoral Research Fellow, Australian Centre for Architectural History, Urban and Cultural Heritage, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</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/why-heritage-protection-is-about-how-people-use-places-not-just-their-architecture-and-history-138128">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Heritage protection is about how people use places, not just architecture and history

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GUEST OBSERVATION
 
Architecture suffers before building does.
A survey of more than 450 architecture practices conducted by the Association of Consulting Architects finds that <a href="https://aca.org.au/article/pulse-check-no-3-preliminary-findings">two thirds</a> have lost more than 30% of their revenue, and eight in ten have had projects cancelled or put on hold.
Six in ten are relying on JobKeeper. Half have cut pay or working hours. Three in ten have stood down or sacked staff. Only 15% believe they have enough work to see out the year.
In total, the survey finds more than A$10 billion of projects have either been cancelled or put on hold, just among those responding to the survey.
John Held, the National President of the Association of Consulting Architects says
"unless there is a more effective stimulus package for construction, the government will need to consider extending JobKeeper beyond its expiry in September to prevent the loss of many normally-viable architectural practices. Without a pipeline of projects, a substantial rise in unemployment across the whole construction sector will result"
Dr Peter Raisbeck, an expert in the building and construction industry at the University of Melbourne, says
"two thirds of architects in Australia are small businesses employing less than five people, operating on small profit margins. Widespread insolvencies amongst these vulnerable firms would be catastrophic"
The design professions – architecture and engineering – are the <a href="https://www.forbes.com/sites/kionasmith/2019/12/31/the-canary-in-the-coal-mine-isnt-ancient-history/#c6abbe843931">canary in the coalmine</a> for the wider construction industry. If those professions are in a slump now, construction itself will most probably be in big trouble in three to six months.
A window on the future
The findings are reinforced by forecasts prepared by the <a href="https://www.acif.com.au/acif-news/australian-construction-industry-forum-issues-coronavirus-recovery-proposal-constructions-bridge-to-recovery">Australian Construction Industry Forum</a>.
They show that while engineering construction on projects such as motorways and public transport is likely to hold up reasonably well, residential and non residential construction, already weak prior to COVID-19, is set to slump over this year and the next, with the brunt of the impact being felt in NSW and Victoria.
It will be very bad for employment.
The building and construction industry consists of nearly 400,000 businesses that directly employ more than 1.2 million Australians. Most of the supply chain for building materials is in Australia, particularly for low-rise residential buildings.
The immediate priority should be to ensure that projects continue to be designed and documented to avoid the “valley of death” caused by the need for drawings to be completed before construction can start.
We’ve had warning
If eight out of ten architectural practices have projects that have been cancelled or put on hold now, there will be a significant shortage of projects going to tender later in 2020 and in 2021.
Based on the numbers in the surveys, the loss of jobs in construction could add two percentage points to unemployment during 2021.
To overcome the valley of death, something needs to be done to restart projects that have been deferred or cancelled.
To their credit, state and territory governments have brought forward varying amounts of public works projects, including schools, hospitals and a small amount of social housing. In Victoria, the acceleration of the government’s <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186">combustible cladding replacement program</a> is also helping to prop up demand.
Unfortunately, the evidence from the Association of Consulting Architects survey suggests this won’t be enough.
HomeBuilder, the federal government’s $680 million program intended to “save the tradies”, appears <a href="https://www.afr.com/property/residential/frustrating-state-delays-hold-up-homebuilder-grants-20200615-p552na">to have stalled</a>.
So far, none of the states has finalised an implementation plan for the scheme, perhaps because it was so <a href="https://theconversation.com/homebuilder-might-be-the-most-complex-least-equitable-construction-jobs-program-ever-devised-140162">poorly designed</a>.
In Sydney, where a lot of houses may exceed the $1.5 million value cap, some builders are complaining that the scheme is actually delaying decisions while homeowners wait to see if it will apply to them.
And we know what to do
We can learn from history. The Rudd government’s $3 billion (in today’s money) <a href="https://www.anao.gov.au/work/performance-audit/building-education-revolution-primary-schools-21st-century">Building the Education Revolution</a> scheme was successful in stimulating construction and delivering jobs during the global financial crisis.
The $3 billion <a href="https://www.anao.gov.au/work/performance-audit/home-insulation-program">Home Insulation Program</a> (later known as the “pink batts” program) also created jobs.
Although there was widespread and justified criticism of how both programs were implemented, they were big enough and quick enough to make a difference to employment. And they delivered general benefits.
We should be able to learn from these ideas and the mistakes that were made in their implementation.
 
The Morrison government’s efforts to support the construction industry to date have been too small and too slow. The architects survey suggests the design professions will go over a cliff in September. The construction forecast suggests that the construction industry will follow them over in 2021.
State and local governments have a long list of useful school, health and community projects that could go ahead now if the federal government made the money available.
Many shovel-ready projects that have been cancelled are in the higher education sector, many of them meant to deliver the STEM graduates or STEM research that the government <a href="https://www.theguardian.com/australia-news/2020/jun/19/australian-university-fees-arts-stem-science-maths-nursing-teaching-humanities">says it is keen on</a>.
There is also a crying need for good <a href="https://theconversation.com/why-the-focus-of-stimulus-plans-has-to-be-construction-that-puts-social-housing-first-136519">social housing</a>, made more apparent by <a href="https://www.theage.com.au/national/victoria/covid-public-housing-wrap-20200705-p5596z">developments in Melbourne</a>.
If we learned anything from the global financial crisis, it was that going hard and early worked. It is not too late to do it now, but it will be soon.<img src="https://counter.theconversation.com/content/141367/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/geoff-hanmer-90647">Geoff Hanmer</a>, Adjunct Professor of Architecture, <a href="https://theconversation.com/institutions/university-of-adelaide-1119">University of Adelaide</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/if-architecture-is-the-canary-in-the-coalmine-the-outlook-for-construction-is-appalling-141367">original article</a>.
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If architecture is the canary in the coalmine, the outlook for construction is appalling

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Can you believe we are 20% into this new century? I can’t. Wow. Ok let’s go. I’ll keep this short and sharp with some dot points below and a little description next of each: 

Don’t overthink it. 

Yes you are going to be in debt for the majority of your life, but is it all really worth being on the market as a buyer for 2 years? Coming second place every weekend. Some of this will come down to the type of person you are and what you require to be ‘satisfied’. The average life span of most buyers is 2-3 months in my market (<a href="/news/opinion-the-best-time-in-the-near-future-to-buy-property">Inner Eastern Melbourne</a>). Some simple questions to ask yourself while focusing on your values: 

What do I want out of this? How long is this purchase/investment going to serve me? What is the intent? Ie A roof over my head? Or a pure <a href="/guides/how-to-navigate-buying-property-during-the-covid-19-crisis">investment strategy</a>? 

If it’s to be an investment, one theory that I subscribe to is: always buy where you would like to live. 

Back to basics. 

There are 100s of variables that can surmount to any <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">major buying decision</a>. 

Most markets in the southern hemisphere will pay more for a ‘northern aspect’ that shines natural light toward the rear of the home or the most used areas / entertaining areas. 

An entertaining area that is South facing is usually colder and may lack natural light. This orientation may not have as much buyer competition and therefore potentially a lower price. 

The same principal applies for the ‘high’ side and the ‘low’ side of the road. Even to the shape of the plot of land – ie irregular or regular. The latter may sound odd to some but believe me I’ve seen differences in the hundreds of thousands of dollars in selling similar homes on different sides of the road. 

Understand the numbers. 

Apartments – Calculate the dollar per square meter rate of the 3 most comparable sales using the internal m2. Apply that to the apartment you are interested in, taking into account the variables (i.e. orientation, fit out etc.) 

Older homes with land – What is the value of the replacement cos of the home? What is the dollar per m2 rate of the most comparable 3 sales? Add them together and voila – that is what we call market value. 

Outgoings – The first page most buyers look at on any vendor’s statement document. Understand the <a href="/guides/how-much-can-i-expect-to-pay-for-owners-corporation-fees">Owners Corporation notes</a>, the rates and the water bills. Look for anything that stands out and ask questions. 

EVERY family has at least one expert. 

The question goes: Is this expert helping you financially to purchase this property? 

If not, then the question goes,: Are you wanting to satisfy Aunt Karen’s insistence for a Japanese maple garden featuring a koi fish pond in your entertaining area, or would you prefer to do it your own way? 

Being comfortable with your own values and knowing what you like, is what is important here. 

Prepare for disappointment. 

It’s your first home, give yourself a break. Did you like your first car? No. But it served a purpose. 

Be diligent but open to making a booboo. Managing the anxiety of not being able to control the future, is key &amp; will be one less thing to worry about. 

If it doesn’t grow in capital value, the longer you leave it ‘as is’ the further behind you will be. 

Make the call and pull up stumps if you have to. It may be the best decision you will ever make.
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Nick Dante

Are you a First Home Buyer? Here are my 5 Tips to buying property in 2020 

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To maximise any increase in value when renovating, it is best to do a full kitchen or bathroom renovation, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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"We are now, at the time of writing this, almost two months into these tough social distancing rules, restrictions and temporary closures of many businesses across many industries.
"Although it feels like it has been a lot longer, it is still quite early into the influence this COVID-19 pandemic is likely to have on our lives, the (macro) economy and what was and will be considered the norm for many different things moving forward," the valuation firm said. 
When specifically looking at the residential property market, there were some obvious sudden impacts, such as the banning of on-site auctions and all open homes to be by appointment only. 
The report notes there were also sudden changes to levels of market sentiment, for instance how confident purchasers in the market felt buying a new property and committing to a mortgage in a time of current economic uncertainty or paying top dollar for a property in a desirable location.
"What has been less sudden and to be frank, what most of us are interested in, is the impact on property values," the valuation firm said. 
The property market (value speaking) is a lag indicator, so changes in value due to the COVID-19 pandemic are still too early to call, however to get some indication of where things are tracking, the best evidence to look at is: properties that have sold from April to now; how long properties are taking to sell; and whether there have been (and how many) downward price adjustments made to properties with an advertised price guide.
Speaking specifically of Canberra, the market has held its ground since late March with prices remaining consistent with pre-COVID-19 levels, but moving forward, it may be a case of groundhog day with prices remaining where they are and growth very much negated by the fact that confident market sentiment is no longer there.
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The topic of renovations and value-adding is a contentious one, the report noted. 
Generally speaking, the kitchen and bathroom areas of a property are where it is wise to invest capital, either through regular maintenance or upgrading, as these are focal communal points of a property where significant time is spent.
In current circumstances, it is those who bought five plus years ago who are in the best position to do this, drawing on the growth in their equity of their property from good capital growth to pay for renovations to invest back into their property.
A local example is a property in the south side suburb of Chisholm, which has a median house price of $607,500 (source: realestate.com.au pricing data as at 28 April 2020).
Comprising a small, 1990s built three-bedroom, one-bathroom dwelling with a dated fit-out located on a small block, it was purchased in 2001 for a figure in the vicinity of $150,000.
Valued as it was, a figure of $450,000 was adopted based on the valuation assessment method. This represented a tripling in its value over that time period just from capital growth.The client was able to tap into the increase in their equity to undertake an internal renovation, the report noted. 
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Those who purchased during the market peak (2018 to 2019) haven’t seen the previous levels of growth continue, so the growth in their equity may not be sufficient enough to use to undertake renovations.
"Day-to-day work volumes on a ground level haven’t shown any noticeable increase in the number of requests coming through for owner occupied or investor properties being renovated," the valuation firm said. 
The desire to undertake such a project may be there, as more people work from home and become aware of dated internal fit-outs or neglected maintenance, however home renovations are likely to be considered a luxury and non-necessity, therefore in a period of restrained consumer spending, there hasn’t been a sudden rise in the number of renovation jobs for established properties.
Those that are coming through tend to be owner- occupied properties, the report noted. 
Property owners in a position to invest back into their property are doing so for their primary place of residence and it tends to be suburbs where the majority of the residential stock was established in the mid-1980s and early 1990s, such as Isabella Plains, Calwell and Theodore. 
These properties are now 25 plus years old and are showing their age through dated internal fit-outs and worn appliances.
In the current circumstances, these properties also tend to be the most sensible to renovate, particularly three-bedroom properties, as their buy-in price point tends to be in the low to mid $500,000 range.
Their post-renovation buy-in price point usually ranges from high $500,000 to mid $600,000 depending on the level of finishes and if the property is a bathroom plus ensuite property.
Properties within this price range are sensible to renovate as they are consistently within an in-demand price range due to their relative affordability in the context of Canberra, where the median house price at the end of 2019 was $788,621 (source: domain.com.au - Domain House Price Report, December Quarter 2019).
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"When renovating your property it is also important to consider that a half-hearted approach, so to speak, won’t necessarily see an increase in value as opposed to a full renovation, for example, if your property has a dated internal fit-out, choosing to (just) update the vanity unit in the bathroom, or appliances only in the kitchen but leaving everything else as is," the valuation firm said. 
This is often because it is an expectation of the market that these high-use items are in good working order and merely updating them is bringing the property in line with what the market expects when paying for a habitable property.
To maximise any increase in value when renovating, it is best to do a full kitchen or bathroom renovation.
A three bedroom house with a renovated bathroom in Chifley has recently been sold for $702,500.
The family home at <a href="https://www.realestate.com.au/sold/property-house-act-chifley-133723218" target="_blank">5 Lamb Place</a> (pictured below) was offered for sale for the first time in 54 years. 
It comprises three bedrooms, separate lounge, meals area, double garage and covered storage area. 
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A current listing is a single level duplex with renovated kitchen in Holt, which is priced at over $498,000.
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-duplex+semi-detached-act-holt-133902570" target="_blank">2 Bushby Place</a> (pictured below).
It comes with open plan living and dining areas, master room with ensuite and backyard with vegetable gardens. 
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The report suggests another important thing to consider is price. It is important to source multiple quotes. 
One local example saw a client in the suburb of Richardson source two quotes for the renovation of their bathroom, which was a relatively small size, measuring 5.4 square metres.
The two quotes were $40,000 and $25,000. Richardson is one of Canberra’s most affordable suburbs and to outlay a significant sum for a small bathroom renovation did not make economic sense as buyer demand for high-end bathroom fit-outs in Richardson isn’t strong.
"Before undertaking any renovation work, consider what the market demands in a specific location in order to invest effectively and avoid overcapitalising," the valuation firm said. 
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Canberra renovation work volumes remain stable: HTW residential 

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A recently-refurbished 2,991 square metre industrial facility in Smithfield has been secured pre-auction for $3,230,000 (plus GST).
A multi-national portable equipment hirer purchased 71 Long Street, and will relocate its local headquarters from Sydney’s north-west.
Formerly home to a transport firm, the site features a large concrete yard and a 1,221 square metre building with warehouse and office space and an expansive awning.
The warehouse offers clearances of up to 5.5 metres with access via two roller doors, while the multi-level office area has been refreshed.
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Within Smithfield’s tightly-held industrial precinct, the property is in close proximity to arterial roads including the Cumberland Highway, Great Western Highway and M4 motorway.
CBRE’s Janet Joljian and Elijah Shakir managed the sale on behalf of the vendor, DSE Superannuation Fund, with an auction originally scheduled for mid-June.
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Smithfield warehouse snapped up pre-auction for  $3.23 million

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A local business has snapped up two joined strata units on one site for $1,850,000 in Perth’s Osborne Park.
Located at A and B/28 Sarich Court, the asset comprises a 1,506 square metre site, with a combined 882 square metres of warehouse and office space.
Tom Jones, of Ray White Commercial (WA), marketed and sold the listing.
Mr Jones said the street-front assets were in a sought-after commercial precinct surrounded by premium catchment areas.
“Osborne Park has always been an area in demand, however due to its ‘development’ zoning, has been quick to lose its industrial identity which is still highly sought-after,” Mr Jones said.
“Unit A offers 441square metres of office/warehouse space and boasts a reception area with seven offices, kitchenette, and storage room (dark room).
“It also provides ducted reverse cycle air-conditioning to the front office space, roller door access from the front of warehouse, and a 150 square metre mezzanine floor above the office area.
“Unit B offers 441 square metres of office/warehouse space including two offices and reception, 50 square metre mezzanine, and roller door access from the front of the warehouse.
“Generic for both units there's 624 square metres of front hardstand/parking, upgraded 160amps of power, double brick façade recently rendered with concrete tilt panel surrounding and tin roof, neon lighting throughout, and alarm system.”
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Two Osborne Park strata warehouse units sell for $1.85M

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Market activity in Darling Downs has slowed significantly over the past six to eight weeks as a result of COVID-19, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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The report notes many vendors withdrew their properties from the market during the initial shut down period and many selling agents are now reporting having limited stock on the market.
Selling agents are also reporting that genuine buyers are still active in the market (ie. those who had sold just prior to the COVID-19 shutdowns and need to buy elsewhere or government employees relocating) and cash buyers are beginning to emerge, seeking the opportunity for a good buy.
The restriction on open homes for several weeks resulted in selling agents receiving genuine buyer enquiry rather than sticky-beakers. Open homes have re-commenced in the past week and agents are reporting moderate attendance so far.
In the broader Darling Downs region, property managers are still reporting good demand for rental properties, the report noted. 
There is limited short-term rental accommodation homes in this region and accordingly, it has been somewhat insulated from an influx of short-term letting properties such as those listed on AirBNB coming back on to the long- term rental market.
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"Commentary has been made by both CoreLogic and realestate.com.au representatives regarding the potential for increased demand for properties within a two hour radius of capital cities after COVID-19, due to buyers seeking a lifestyle change to less crowded regional areas and with new work from home routines having been established.
"This applies to many areas within the Darling Downs region and is cause for optimism in our area," the valuation firm said. 
Renovate your way out
There has been a significant growth in property owners undertaking extensive renovation projects in recent years, possibly driven by television shows such as The Block.
In the Darling Downs region, this is particularly evident in the city of Toowoomba, the report suggested. 
"The well regarded and sought after suburb of East Toowoomba has seen a significant amount of home-owner renovations in recent times," the valuation firm said. 
A majority of properties in East Toowoomba are older, character timber dwellings and there has been a noticeable increase in the number of these properties being brought back to life. 
Some note-worthy renovations for this locality have maintained the original cottage style façade but have been extended to the rear with two level, contemporary style additions.
"There have only been a few renovations carried out in this style so far in East Toowoomba and they have generally been completed by owners of local, custom building groups as their own personal residence and then on-sold.
"Therefore, it is difficult to comment on the profitability of carrying out such an extensive renovation. In many cases, this has created a great deal of interest in those particular builders and resulted in additional renovation projects for them to complete for paying customers," the valuation firm said. 
An example provided by the valuation firm is a fully restored and renewed home in East Toowoomba. 
The four bedroom, two bathroom home at 31 Cavell Street (pictured below) was sold for $810,000 in 2019. 
The home comes with tiled bathrooms, covered alfresco area and terrace, private courtyard and rear studio space. 
The original features include high ceilings and black stained timber flooring. 
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Well-renovated character dwellings in East Toowoomba are generally in the $750,000 plus price bracket, depending on the size and features of the dwelling, ancillary improvements such as pools and particularly the land size.
Renovation costs are currently quite high and in many cases, the cost of completing an extensive renovation is not reflected as added value on a dollar for dollar basis, the report noted. 
Nearby suburbs such as Mount Lofty and North Toowoomba are also seeing some renovation of older timber homes, but to a lesser extent than that of East Toowoomba.
"There is significantly less home renovation being carried out in the lower price brackets and in other suburbs across Toowoomba. We also note that there is limited renovation activity in our regional areas such as Warwick, Stanthorpe, Gatton, Kingaroy and Dalby," the valuation firm said. 
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Extensive home renovation projects grow significantly in the Darling Downs region: HTW residential 

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To date, there are still no clear indications of the impact of COVID-19 on property values in the Mount Gambier region, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"Whilst the market has softened as a direct result of government enforced restrictions and general economic uncertainty, we are yet to see this reflected in any value correction.
"As restrictions begin to ease and some normality resumes, we remain positive that the impact will be limited, however we are not naive to the fact that there will be ramifications within the property market," the valuation firm said. 
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What about renovations?
Bunnings is certainly packed on the weekends and our DIYers are making the most of lock down time! However, from what we can see at the moment, it would appear as though the top priority on everyone’s renovation list is to complete small jobs that were already on the to do list," the valuation firm said. 
Larger renovations often take longer to plan and generally rely on the availability of tradies and they are not easy to grab in our region at short notice.
"In our region, major renovations need to be considered quite carefully. The cost of demolition, altering and reconfiguring existing improvements can quickly make any renovation very expensive, without necessarily seeing any improvement in the dwelling," the valuation firm said. 
"Prior to completing any major renovations we would recommend that home owners ascertain the current value of their home (have a valuation done), consider the cost of the proposed renovations and then add the two amounts together. 
"What can you buy in the current market for a similar price? Are you best to do the proposed renovations or perhaps consider buying a property at a similar total cost where someone has already done all the hard work? This is a simple way to have an informed opinion on the best way to tackle the question of whether to renovate or not." 
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<img src="blob:https://www.urban.com.au/4b0eba65-746c-4da6-b89f-1141fb1e0b52" alt="page31image3738448" width="0.500000" height="0.500000">A renovated three bedroom home in Mount Gambier has recently been sold for $297,000.
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<div class="section">Set on a 641 square metre block, the 10 Degaris Street home (pictured below) comes with lounge room, renovated kitchen, and paved pergola area. </div>
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<div class="section">The property was last sold in 2012 for $210,000.</div>
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<div class="section">A current listing is a renovated three bedroom home in Mount Gambier with a price guide between $175,000 to $185,000.</div>
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<div class="section">The 53 Boandik Terrace home (pictured below) comes with open plan lounge and dining, three carpeted bedrooms, tiled bathrooms and separate lounge. </div>
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<div class="section">It is located just a short walk to schools and shopping centre. </div>
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Major renovations in Mount Gambier need to considered carefully: HTW residential

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The COVID-19 restrictions have given homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes, according to the June Herron Todd White (HTW) residential report. 
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The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
Corelogic recorded a 0.2 per cent price increase in the Perth median house price to $477,000 throughout April, indicating that values remained steady in the initial impact stages of COVID-19.
The number of listings decreased five per cent compared to the previous month with 11,670 properties recorded for sale at the end of April, which is below historical numbers and indicates that the market is moving towards a period of undersupply – depending on where demand levels out.
When home open inspections were temporarily banned due to the Coronavirus restrictions, the Real Estate Institute of Western Australia (REIWA) recorded under 300 sales transactions per week during April compared to recording over 500 transactions per week over the same period last year. 
The week ending 10 May recorded a 32.7 per cent increase in sales activity with 527 sales recorded in the Perth region compared to the previous week. 
Confidence within the market is slowly beginning to recover which has been helped by home opens being reinstated with a maximum of 10 people allowed and a further maximum of 20 people allowed as of 18 May.
Within Perth, the REIWA recorded 5420 properties for rent as of 10 May, which is a four per cent decrease in comparison to four weeks before and 23 per cent lower than this time last year.Leasing activity has increased by 31.5 per cent from the end of April to the start of May.
Until recently, agents across south-west Western  Australia were experiencing very few enquiries and were frustrated by the inability to interact with potential purchasers due to restrictions on home opens.As a result of the lack of sales transactions, it has been difficult to get any firm idea as to the effect on values.
"The easing of Coronavirus restrictions has seen a flurry of new enquiries however it is not yet back to the pre- pandemic levels," the valuation firm said. 
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Prior to the world pandemic, Western Australia’s property market was improving consistently with consecutive levels of growth being recorded, the report noted. 
 Senior Research Analyst for Domain, Nicola Powell, said that houses in Perth were being discounted at an average rate of 7.85 per cent during April, compared to 11.9 per cent recorded last year.
One real estate agent reported that 60 per cent of their transactions were between one and three per cent of the original asking price.
"Many believe that Western Australia will perform stronger than other states given its stage of the property cycle before the impact of COVID-19, however many industry experts have stressed concern that the government incentives are only a short term solution and that we could be in for more pain in the long run," the valuation firm said. 
Renovations
The Coronavirus pandemic has produced very few upsides, however one positive outcome has been the increased time spent with our families, friends and loved ones, the report noted. 
The extended homestay period has brought boredom to a whole new level for some. The COVID-19 restrictions have given stir-crazy homeowners the chance to review their living spaces, with many people looking at ways to further improve their homes.
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"Renovating is well known for increasing the value of property as well as bringing new life to dated dwellings, however we do know that alterations almost never boost value at a one-to-one ratio with cost," the valuation firm said. 
With many experts tipping the Australian property market to plummet between one to twenty per cent over the coming year, renovating could look like a fine prospect to offset some of that damage for people with job security.
Though solid statistics are sparse, one article by 9 News suggests that Australian renovation jobs were down 15.55 per cent in April 2020 compared to March, however this is not in line with the anecdotal evidence we are seeing on the ground.
Commonwealth Bank of Australia economist, Gareth Aird, recently said that “there has been a 25 per cent increase in credit and debit spending on household furnishings and equipment compared to a year ago”.
Simon Bligh, Chief Executive Officer of credit bureau Illion, said the average Australian spent 38 per cent more per week on home improvement compared to before the lockdown (Sydney Morning Herald, 2020).
"Although renovation work generally drops when there’s a dip in consumer confidence, this has never been combined with residents having spare time around the house, so it will be interesting to see which way the pendulum swings over the June quarter, especially since restrictions appear to be changing almost weekly," the valuation firm said. 
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In the early stages of the pandemic, much of the expectation was for renovation work to slow down as the supply chain for home improvement parts and equipment was halted and product availability from China was lacking, the report noted. 
On top of this, looming social distancing restrictions posed a threat to tradespeople working in close quarters. Fortunately, as of 18 May, restrictions were relaxed to allow gatherings of up to 20 people. 
This should provide some relief to developers, builders and tradespeople alike, however applying the four square metre rule may still be tricky in some work sites.
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Many building and renovation businesses have had to change the way they operate alongside the rest of the country by adding services such as video call consultations, where consultants take a virtual tour through the home as the owner shows them around.
Small projects such as updating blinds and carpets, landscaping, gardening and painting have seen Bunnings and other outlets quickly run out of stock and many residents have become keen DIYers during long stretches at home.
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In terms of what we have experienced here in Western Australia, chatting with agents, property managers, investors and homeowners suggests that renovation work has in fact increased, particularly in the upper middle price bracket of circa $700,000 plus. 
This may be due to hierarchal employment and the fact that younger and older, lower income earners have (generally) been hit the hardest or are not in a financial position to be thinking of renovating.Historically low interest rates have clearly been enticing homeowners into refinancing to top up their borrowings.
Historically low prices provide fantastic opportunities for anyone willing to tackle a new renovation here in Western Australia.
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The Parkwood property at 23 Romney Way (pictured above) is under contract for $370,000.
The circa 1974 build comprises four bedrooms, one bathroom and a single garage with an attached carport, built on a 713 square metre allotment.
This shows exceptional value for money if you are willing to get your hands dirty and renovate, as the same block of land ten kilometres further from the CBD can cost substantially more – minus the hous
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This Piara Waters property at 7 Artisan Pass (pictured above) sold in February 2020 for $810,000.
The circa 2009 build comprises four bedrooms, two bathrooms and a double garage on a 713 square metre allotment.
Despite the glaringly obvious difference in the quality of improvements, it really does demonstrate the value for money in older suburbs where you can give properties a new life.
"If you spent $350,000 demolishing and rebuilding the Parkwood property, or less on a smaller scale renovation, then you could have a similar quality build on the same amount of land for cheaper and ten kilometres closer to the city," the valuation firm said.  
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The cost of renovating during the Coronavirus pandemic has seemingly remained stable (though it is hard to tell as prices fluctuate significantly from builder to builder), only increasing if time is a major factor or if products aren’t available from the usual suppliers.
"We have however heard of projects being quoted with extended completion times due to social distancing restrictions. This should ease up as restrictions are loosened over coming months."
Generally, the cost of a major kitchen renovation starts from circa $20,000 and can increase upwards of $50,000 depending on the size of the kitchen, whether you are removing walls or choosing high quality, unique fixtures and finishes. For bathrooms, major renovations start at circa $15,000 and can carry on upwards of $30,000 (again depending on several factors).
These costs can of course be lower if you are only completing minor works, spend wisely or assist in the works yourself.
As noted in previous editions, Houzz Australia’s 2016 Houzz and Home Report states that homeowners spent an average of $31,000 on major renovations of a large kitchen (more than 12 square metres) where all appliances and cabinetry were replaced and $21,840 for a small kitchen (less than 12 square metres).
The Houzz and Home Report also showed that the average spend on major bathroom renovations was $16,440 for a large bathroom (more than five square metres) and $14,770 for a small bathroom (less than five square metres) (Domain, 2017).
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"Entry prices for new dwellings come in at circa $190,000 plus for a completed product.If you add in the cost of a potential demolition ($15,000 to $25,000), then you’re looking at a minimum of $200,000 to $250,000 for a standard project style build.Consider renovating if your home is looking a little dated, but you love the area you live in.
"You can get a completely new look and fresh feel for easily under $100,000, or if you live in an older character home, finished renovations can look amazing and can be highly contested when put up on the market," the valuation firm said. 
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Suburbs such as Mount Hawthorn, Wembley, and Mount Lawley, all being within five kilometres of the CBD, have seen a flurry of action recently. 
Further out of central Perth, suburbs such as Canning Vale and Atwell are creeping towards the ripe renovation age of between 30 and 35 years old - this is the median dwelling age for renovations.
"Canning Vale was zoned rural under the Metropolitan Region Scheme until 1994, making the residential development’s age around 25 years old, so we should start to see an influx of renovation projects in these areas throughout the pandemic and beyond," the valuation firm said. 
The main areas ripe for renovation in the south- west tend to be older character homes in South Bunbury and East Bunbury, the report noted. 
A character home in need of renovation can be picked up for mid- $300,000s and once renovated, can sell for mid to high $500,000s, with higher values achievable after extensions or additions.
Other areas such as Busselton can see older homes renovated, usually as the front lot of a strata development however they are usually demolished to make way for modern units.
The cost of renovations and additions are such that it is often just as affordable to construct a project style home as is the case in many of the smaller country towns.
"In summary, there are many areas throughout Western Australia where renovation projects are a worthwhile exercise – however there are also areas that are ripe for gentrification, where the value add of a new dwelling easily outstrips the prospects of a renovation.
"Part of our service offering is the ability to offer before and after valuations based on your project plans. When weighing up where to spend your hard earned savings, it’s well worthwhile paying for some professional advice."
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Are renovation projects worthwhile in Perth? HTW renovation 

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EXPERT OBSERVER
As expected, the Reserve Bank board kept its policy settings unchanged at the Board meeting in July.
The assessment in July confirms the theme in the June Board meeting (“it is possible that the depth of the downturn will be less than earlier expected”) with, “Conditions have stabilised recently and the downturn has been less severe than earlier expected”.
However, as with June, the outlook is described as “highly uncertain”.
On August 7, the Bank will release its revised forecasts out to December 2022 (extended from June 2022 in May).
We will be interested in how this more positive assessment channels into the forecasts.
From a policy perspective the most interest will be in the assessment of the medium term outlook.
We assess that the Bank expects it is extraordinarily unlikely to see the need to adjust policy settings in 2021.
But recall that in its “upside scenario” in the May Statement on Monetary Policy the Bank assessed an unemployment rate of 5% by June 2022. Such an improvement in the unemployment rate would probably see it considering a move in its three year bond target at that time since it confirmed today ”the yield target will remain in place until progress is being made towards the goals of full employment and inflation”.
The unemployment rate in the base case is forecast to be six and a half per cent by June 2022 – down from nine per cent in December 2020.
That nine per cent  is likely to be reduced (Westpac is currently at eight per cent) reflecting the “less severe” near term conditions but I would be surprised if the Bank has seen enough evidence around the growth risks to lower the base  unemployment forecast in June 2022, particularly given the Governor’s understandable caution around the virus both domestically and internationally.
Growth through to December 2020 is also likely to be revised up from minus six per cent to nearer Westpac’s forecast of around minus four per cent.
But that will be largely offset by a considerable reduction in the 2021 growth forecast of six per cent (Westpac’s forecast is three per cent).
Evidence that the Bank may adjust its 2021 forecasts downwards comes through the Governor’s observation that “As some businesses rehire workers as demand returns, others are restructuring their operations”.
Of considerable interest will be the Bank’s assessment of the level of activity in the economy by end 2021 relative to the end of 2019. Current forecasts are for activity to be only around 0.4 percentage points below that level.
Westpac is more cautious at around 1.2 percentage points but both estimates will have activity more than five percentage points below trend over those two years.
And, of course, bear in mind that those forecasts in May assumed an AUD at USD 0.64 over the forecast period. Readers will be aware that Westpac expects the AUD to lift to USD 0.72 by December 2020 and to USD0.76 by end 2021.
Markets have been expecting that the Governor might comment on the AUD’s current level which is above USD 0.695.
However, while I am sure that he would like a lower AUD there is not much point in criticising its level if he has no intention of addressing the issue through policy. Policies such as negative interest rates and/or unsterilized intervention have been variously described as extraordinarily unlikely.
The Statement today clearly signalled steady policy except with respect to targeting the three year bond rate “will do whatever is necessary to ensure bond markets remain functional and to achieve the yield target for three year AGS”.
That statement implies that the Bank has adequate commitment to add to the AUD 40 billion it has already purchased, although only around a quarter was purchased in the two – three year maturity range.
Those purchases were in a year when the Budget deficit lifted from “balance” to a deficit of (we forecast) AUD 95 billion. This year (2020/2021) we expect the deficit to balloon to AUD 240 billion, making for a more active RBA, specifically if domestic and global growth surprise to the upside or market stability falters.
The Deputy Governor Guy Debelle seemed more flexible by ending his speech to the Economic Society last week with, “the Reserve Bank will maintain the current policies to keep borrowing costs low and credit available, and stands ready to do more as the circumstances warrant”.
Candidates for those “circumstances” range from a rampant AUD to another global crisis.
Bill Evans is the chief economist at Westpac
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