One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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?

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An office building, currently owner-occupied by Netball Victoria, has come onto the market. 
The two-level building a is located 150 metres from Melbourne’s historic Flagstaff Gardens.
It features a 10-car basement. 
Following 23 years of occupation, Netball Victoria is relocating to the State Netball &amp; Hockey Centre in Parkville, which is expected to be completed early-mid 2021. 
Savills have listed the property, being sold via an expressions of interest closing April 1.
An anticipated sale price of at least $4.75 million is expected.
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wdavis-8cCN98p7xp

Netball Victoria's west-Melbourne office building listed for sale

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A Liverpool commercial office building has sold for $52.5 million to an investment group from China.
It's the highest every property sale in Liverpool.
The block at <a href="https://www.commercialrealestate.com.au/property/211-northumberland-street-liverpool-nsw-2170-2015756170" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/AHqZC81V1xhLWOxAH1SEax?domain%3Decomms.raywhite.com&amp;source=gmail&amp;ust=1582841778809000&amp;usg=AFQjCNH5OYxNT7pmwSwsJ8ZhzeH-0V16nw">211 Northumberland Street</a> was originally purchased by vendors ESR Australia as part of the Denison Portfolio, that also included a building in Campbelltown.
It was sold fully leased to the NSW Government Department – Family and Community Services – until 2022, with 7,645 sqm of net lettable area.
The building sold with an initial yield of 6.6 per cent, producing just over $3.45 million per annum.
Ray White Commercial Western Sydney agents Peter Vines and Victor Sheu secured the sale, in conjunction with Colliers International's James Barber, Frank Oliveri and John McCann.
Vines said the property was one of Centrelink’s most concentrated multi-service centres across Australia.   “We had a huge amount of interest throughout the campaign with more than 120 enquiries coming from multiple demographics,” he said. 
“With Parramatta currently booming, investors are seeking the next hot spot and given its proximity to the new airport and billions of dollars being invested in infrastructure in the South West, Liverpool is a very good option.”   Sheu said the property was an impressive commercial asset investment that came with value add potential.
“The property is a four-level commercial building that was completed in circa. 2000 and has two levels of security basement parking,” Sheu said.   “The asset offers large efficient floor plates that are light-filled and flexible. The plates are highly desirable to Government tenants with a strong retention history.   “Being in the Liverpool CBD, it provides easy access to the M5 motorway, Hume Highway and arterial roads. It’s also close to the Westfield shopping facilities.”
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Chinese investment group pays $52.5 million for Liverpool office building

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<h2>OPINION: </h2>

Australia’s housing market is a topic which I regularly encounter, whether with our customers, readers or even just friends. Whether you are a homeowner, investor or potential buyer, the housing market will impact you in one form or another.

Since the start of 2020, the market has been <a href="/guides/overwhelming-sales-statistics-last-week-reveal-reinstated-confidence-in-the-off-the-plan-market">performing strongly</a>, where we saw last week’s clearance rate around 80% in both Melbourne and Sydney. The number of properties going under the hammer was also the strongest since 2019, with 1000 and 800 respectively. This statistic was also reflected by the significant increase in listings in our weekly magazine.

While the signs look positive locally, how will the Coronavirus impact Australia’s property market? The main thing to look at is the impact on Australia’s economy. The Coronavirus is set to be declared a pandemic, due to the ease at which it appears to be spreading worldwide. If it can’t be contained quickly, then the impact on economic growth would look dire.

The way I see it, the impact of the virus on Chinese interests in Australian property will be both good and bad. <a href="https://firb.gov.au/">Foreign Investment Review Board (FIRB) reported</a> that foreign investment plunged by 58% year-on-year from $30 billion to $13 billion in the 2017/18 fiscal year – the lowest level in nearly a decade. This will be compounded by the uncertainty around the virus, so in the short term, we will definitely see a drop in demand.

The <a href="https://dfat.gov.au/news/news/Pages/continuing-travel-ban-to-protect-australians-from-the-coronavirus.aspx">current travel ban</a> has limited many Chinese nationals to enter Australia, especially the international students with many either buying for the short term or buying when they continue living in Australia after graduation. Also, if China continues to restrict the flow of funds out of their country to protect their own economy, it limits the ability of Chinese investors to <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">buy property in Australia</a>. 

On the other hand, in the long term, many more Chinese may want to migrate overseas, as the virus has made them feel vulnerable in China. If so, we will see a resurgence of strong demand from Chinese foreign buyers in the near future. But a lot is dependent on how the Chinese Government limits the flow of funds to overseas if the economy is doing poorly and also if any easing of Australia’s policy towards foreigner buyers. 

Unfortunately, no one has a crystal ball to be able to accurately predict the future. We can’t be sure how the Coronavirus health crisis will pan out globally. We also can’t be exactly sure how it will affect the Australian economy or our property market until we see an end to the crisis.

<div class="rtecenter">Read next: <a href="/news/first-home-buyers-snap-up-property-due-to-fear-of-missing-out">First home buyers snap up property due to ‘fear of missing out’</a>
</div>
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Olivia Round

How will the Coronavirus impact Australia’s property market?

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EXPERT OBSERVER
The Urban Taskforce CEO, Tom Forrest, today urged the NSW Government to be bold in their plans for reform of the NSW planning system as new ABS data on housing construction shows that NSW has fallen far behind Victoria and risks sleepwalking into a recession.
Across Australia, the value of construction work on new housing in 2019 declined in New South Wales (-15.5 per cent), Queensland (-10.1 per cent), South Australia (-7.4 per cent), and Western Australia (-14.0 per cent). By contrast, the value of work done on new housing increased: by 0.1 per cent in Victoria, 5.4 per cent in Tasmania and 9.6 per cent in the Australian Capital Territory
NSW has the slowest planning system in the country for every single type of development application according to the NSW Productivity Commissioner, Peter Achterstraat. 
Today’s ABS figures show that in the final three months of 2019, the dollars spent on the construction of new housing in NSW plummeted, and that is before the impact of the bushfires, subsequent floods and the Corona Virus are taken into account. This resulted in a dismal decline in NSW new home construction for the year of 2019.
Today’s ABS figures are a wake-up call for the NSW Government.  The NSW economy needs a stimulus now with new Commonwealth and State funds urgently needed for infrastructure to unlock private sector investment in housing. 
Only increased supply will create downward pressure on housing prices. Rather than increasing taxes on new housing, the NSW Government needs to boost its own spending to unlock private sector investment.
I welcome Premier Berejiklian’s calls for major reforms to the planning system. 
Planning reform is urgently needed because the current planning system is allowing NIMBYs to wreck our economy.  Local groups have successfully pressured Councils and the NSW Government into opposing new housing and apartment development across Sydney. This has slowed up the process, reduced the number of approvals and will result in a shortage in new housing supply.
This downward trend started prior to the State election in 2018 and has gotten worse. This is now having a direct impact on GST revenue, stamp duty revenue, employment and investment.  If urgent steps are not taken to reverse this trend, housing prices will skyrocket while the economy tanks – a worst case scenario.
TOM FORREST is the CEO of Urban Taskforce
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j.ballantyne1990-6AQqhLzZaK

Is NSW sleepwalking into recession? Urban Taskforce's Tom Forrest

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EXPERT OBSERVER
An extraordinary amount of construction work has occurred in Australia over the past five years. In fact work done in both NSW and Victoria soared by over 40 per cent from 2014 to 2019. But now work flows are adjusting to more balanced supply-demand metrics.
Residential work peaked around 18 months ago and is now down 15 per cent from the highs.
Commercial work hit record highs in the September quarter but eased in the December quarter. Still, on the work yet to be done, commercial work will test record highs in the next year while residential work softens – at least for the next six months. Bushfire reconstruction work will slowly pick up over 2020.
Construction-dependent firms won’t be short of work in 2020, but businesses may have to travel a bit further to tap into the opportunities. The good news is that price pressures are well contained. In fact building costs (residential and commercial) are rising at the slowest annual pace in around seven years.
The data hasn’t been updated since mid-January, but the latest reading showed $144 billion of construction work still to be completed. Engineering work totals $74 billion with around $38 billion of residential work and a record $32 billion of commercial work.
What do the figures show? Construction work done – December quarter
Construction work done fell by 3.0 per cent in the December quarter – the fifth fall in six quarters. The value of construction work done is down by 7.4 per cent on a year ago.
Public sector construction work rose by 0.7 per cent in the quarter after a 3.6 per cent lift in the September quarter.
Private sector activity fell by 4.2 per cent in the December quarter – the fourth successive quarterly fall.
Construction work fell across six states and territories in the December quarter: NSW (down 4.6 per cent); Victoria (down 2.8 per cent); Queensland (down 3.4 per cent); South Australia (down 5.4 per cent); Western Australia (down 2.9 per cent); Tasmania (down 6.6 per cent); Northern Territory (up 0.6 per cent); ACT (up 1.5 per cent).
Engineering work fell by 1.5 per cent in the December quarter – the sixth straight decline. Work done is down by 8.0 per cent over the year.
Commercial (non-residential) building fell by 3.4 per cent in the December quarter after rising 7.5 per cent in the September quarter. Work done is up 3.3 per cent on the year.
Residential building fell by 4.6 per cent in the December quarter – the sixth straight decline. Work done is down 12.8 per cent over the year – the biggest annual fall in 18 years.
Alterations &amp; additions fell by 1.3 per cent in the quarter to be down by 5.8 per cent over the year. And new residential work fell by 5.1 per cent over the quarter and by 13.7 per cent over the year to December
Construction costs rose by 0.2 per cent in the December quarter, with building costs up 0.1 per cent and engineering costs up by 0.3 per cent.
Over the year, construction costs rose by 1.2 per cent (slowest pace in three years) with building costs up 0.7 per cent (slowest pace in seven years) and engineering costs up by 1.9 per cent (slowest in 2½ years).
Bushfires
The ABS noted: “Bushfires resulted in minor disruption to data collection activities during the December 2019 quarter in New South Wales, Victoria and the Australian Capital Territory. Quality assurance undertaken by the ABS confirmed that these disruptions did not result in any impacts to Construction activity statistics. Whilst it is expected that bushfire rebuilding and recovery activity will have some impact on future Construction activity estimates this activity is not yet present in the December estimates.”
What are the implications for interest rates and investors?
There is still plenty of construction work to go around. In fact some firms like Monadelphous continue to highlight the difficulty in attracting and retaining good skilled workers for engineering projects.
In terms of the outlook for home building, the Housing Industry Association said “We estimate the industry commenced construction on 174,770 homes in 2019, and we are forecasting for activity to rise only marginally (by 0.6 per cent) in 2020.”
The fall in residential work in the December quarter means that dwelling investment will be drag on economic growth in the December quarter. We will get another piece of the ‘GDP puzzle’ tomorrow with business investment data. The data will likely show an easing of building/construction investment by Aussie businesses.
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cjames-5S2v74qSNK

Construction eases but theres still plenty of work: CommSec's Craig James

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>Plenty of people bemoaned the record low nominal growth in Australia's wage price index in calendar year 2019, myself included.</div>
<div> </div>
<div>Through a prolonged period of high levels of immigration the workforce has clearly become more casualised, and there's been widespread underutilisation as well as wage theft. </div>
<div> </div>
<div>On the other hand, the latest average weekly earnings figures show that there are still plenty of dollars sloshing around some parts of the economy. </div>
<div> </div>
<div>Over the year to November 2019 there was +3.3 per cent growth in average weekly earnings, driven by solid +3.4 per cent growth for full-time employees in the private sector.</div>
<div> </div>
<div>That's well ahead of the rate of inflation of about +1.8 per cent. </div>
<div> </div>
<div>Full-time ordinary time earnings for males increased by +3.2 per cent, which is plenty better than some of the numbers we've seen for men in recent years (while the equivalent figure for females was robust at +3.5 per cent):</div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-SyB2L8bRUVA/Xk-vRpxsMqI/AAAAAAAA0XE/Lrn-C_wEfMMYQdySez7wuAk_1sGGaTOBQCNcBGAsYHQ/s640/A1.jpg" width="640" height="368" data-original-height="809" data-original-width="1404"></div>
 
<div>For average total male earnings there was very solid growth in Victoria (+5.5 per cent) in particular, as well as in New South Wales (+3.8 per cent). </div>
<div> </div>
<div>In the mining boom glory years male workers drew in extremely strong rates of pay in the Top End - I even lived in Darwin myself for a short time - but those days have long gone, and many workers are leaving the Northern Territory as gravity and mean reversion take hold. </div>
<div> </div>
<div>You can click on the below chart to see how male full-time total earnings have progressed over time by state and territory, with the impact of the end of the mining construction boom in evidence for the resources state figures:</div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-LpcNpSshjJY/Xk-vRkHSG3I/AAAAAAAA0XI/zeb15JHAWVYEvQdg4c7c9SS3fPKL6JzKgCNcBGAsYHQ/s1600/A2.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-LpcNpSshjJY/Xk-vRkHSG3I/AAAAAAAA0XI/zeb15JHAWVYEvQdg4c7c9SS3fPKL6JzKgCNcBGAsYHQ/s640/A2.jpg" width="640" height="384" data-original-height="826" data-original-width="1371"></a></div>
Sector trends
<div>Overall, average weekly earnings increased by +3.2 per cent over the year to November 2019 to a new high of $1,659, which was a stronger result than the +2.5 per cent seen a year earlier.  </div>
<img src="https://1.bp.blogspot.com/-spjyzBpAnJg/Xk-vRtX1rBI/AAAAAAAA0XM/ri4qmweXsLQdjer9sPAvNXGfMAHXfkgXgCNcBGAsYHQ/s640/AWE.jpg" width="640" height="636" data-original-height="809" data-original-width="814">
<div>Thus while growth in the wage price index has been benign, it's clear that some earners and sectors have been faring reasonably well. </div>
<div> </div>
<div>Higher income earners may include healthcare specialists, construction workers and project managers, engineers, and some of those in tech roles...especially employees based in Melbourne and Sydney. </div>
<div> </div>
<div>Indeed, construction topped the industry sectors for adult ordinary time earnings in 2019, with major infrastructure projects seeing some big pay packets being offered, including in inner-city Brisbane. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
</div>
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pwargent-M4siyDbqQY

Important market trends investors should keep an eye on: Pete Wargent

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EXPERT OBSERVER
Australians as a whole expect prices to increase by only 3.9% annually over the next two years, according to Roy Morgan surveys conducted in January. This is a slight decrease of 0.1% on December, but down 0.3% on a year ago.
This is the lowest expectation of future price increases to start a year since the series began in 2010 and compares to price expectations of 6.6% annually over the next two years in January 2011.
Comparing price expectations by Federal voting intention shows the highest price expectations are held by those voting for Independents/Others at 4.4% annually over the next two years equal to those who can’t say who they would vote for – also 4.4%.
In terms of supporters of the major parties ALP supporters expect annual price increases of 4.1% over the next two years which is slightly higher than the national average of 3.9% and significantly higher than both L-NP supporters on 3.5% and also Greens supporters on 3.7%.
Roy Morgan’s Inflation Expectations Index measures what Australians believe the future trajectory of prices will be over the next two years. Every Australian brings a unique perspective to the anticipated movement in prices, including which prices are important to them in particular – whether that be food and drink prices, the price at the pump, prices for clothing and footwear, the cost of going to the footy, or prices for financial products, education, housing or transport.
Price expectations in January have dropped to only 3.9% and are now below the record low yearly average of 4% in 2019. Importantly, there are clear differences in perceptions of price increases between supporters of different parties. ALP supporters are the only major party supporters with price expectations above the national average at 4.1% whereas there are significantly lower price expectations for both Greens supporters (3.7%) and L-NP supporters (3.5%) that provide a significant drag on the overall index.
Inflation Expectations by Voting Intention: January 2020
<img src="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/57312c304f003481ed1f1231/image_4679910221582605124165_1582605127519.png" width="525" height="342" data-imagetype="External">
Source: Roy Morgan Single Source: January 2020, n=4,052. Base: Australians 14+.
Price expectations again highest in Queensland and Tasmania, lowest in WA and NSW
There are significant regional differences for price expectations over the next two years. Those in both Tasmania (5.4%) and Queensland (4.4%) continue to have far higher price expectations than anywhere else.
Price expectations in South Australia (4.0%) are marginally above the national average whilst they are slightly below the national average in Victoria (3.8%), NSW (3.7%) and WA (3.7%). 
Inflation Expectations Index long-term trend – Expected Annual Inflation in next 2 years
Click <a href="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/57312c304f003481ed1f1231/image_76785245631582605124167_1582605127842.png">here </a>to enlarge:
<img src="https://meltwater-apps-production.s3.amazonaws.com/uploads/images/57312c304f003481ed1f1231/image_76785245631582605124167_1582605127842.png" width="690" height="420" data-imagetype="External">
Source: Roy Morgan Single Source: Interviews an average of 4,000 Australians per month aged 14+ (Apr. 2010 – Jan. 2020).
January Inflation Expectations are based on personal interviews with a nationally representative sample of 4,052 Australians aged 14+. Price expectations in 2019 averaged a record low 4% across the year slightly beneath the previous low of 4.1% averaged throughout 2016 and the mark of 3.9% for January represents the lowest price expectations to start a year since the series began in April 2010.
MICHELE LEVINE is the CEO of Roy Morgan
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Inflation expectations much higher among ALP supporters than Liberal, National or Greens supporters: Michelle Levine

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EXPERT OBSERVER
We are continually being told that more of us are employed than ever before.
Reserve Bank Governor Philip Lowe points out (correctly) that a <a href="https://parlinfo.aph.gov.au/parlInfo/download/committees/commrep/cd2f4ebe-8e89-48fc-9d73-511ad37ff580/toc_pdf/Standing%20Committee%20on%20Economics_2020_02_07_7481.pdf;fileType=application%2Fpdf#search=%22committees/commrep/cd2f4ebe-8e89-48fc-9d73-511ad37ff580/0000%22">higher proportion</a> of us are in jobs than at any other time. Prime Minister Scott Morrison says an extra <a href="https://www.pm.gov.au/media/address-national-press-club">1.5 million</a> Australians have found jobs since the Coalition took office, 260,000 of them in the past year.
Yet in many ways the job market is weak, as unusually low wage growth and an uncommon reluctance to change jobs make clear.
A deeper look into the statistics provides clues as to why.
First, many of the extra jobs created have been part-time.
Part-time work, service industries
Over the life of the Coalition government between 2013 and 2019, total employment grew at an annual rate of 2% but the total hours worked increased at an annual rate of <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0">only 1.1%</a> – that’s about half the rate of 1.9% that hours grew during the Hawke/Keating Labor era.
It means the underemployment rate hasn’t come down as much as the unemployment rate.
In fact, it has risen. The proportion of workers who are underemployed – who would like to work more hours than they do – has climbed from 7.9% to 9.1% during the life of the Coalition government.
Over the same period the unemployment rate has fallen only a few points, from 5.7 to 5.3%.
The few industries in which hours worked have increased faster than the average have been <a href="https://cdn.theconversation.com/static_files/files/880/Employment_changing_patterns_table_1.pdf?1582611535">mainly service industries</a>, more likely than others to employ women.
The change in the distribution of industries has also been reflected in the a change in the distribution of occupations.
For both men and women, the proportion in blue collar, clerical and sales jobs has <a href="https://cdn.theconversation.com/static_files/files/881/Employment_changing_patterns_Table_2.pdf?1582611657">fallen over time</a>.
<hr>
Type of occupation by share of employment, men
<a href="https://images.theconversation.com/files/316995/original/file-20200225-24690-1uovak0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/316995/original/file-20200225-24690-1uovak0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Shares of community &amp; personal service and sales are each under 10%) <a href="https://www.mup.com.au/books/fair-share-hardback">Source: Bell &amp; Keating, Fair Share, ABS 6291.0.55.003</a>
<hr>
The share of jobs that do not require a university degree has consequently fallen. The share that require higher skills has risen.
By and large, these changes in the distribution of jobs by industry and occupation and the growth of part-time opportunities has tended to favour women.
<hr>
Type of occupation by share of employment, women
<a href="https://images.theconversation.com/files/316999/original/file-20200225-24701-1hwlv97.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/316999/original/file-20200225-24701-1hwlv97.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Blue collar includes technicians and trades, machinery operators and drivers and labourers. <a href="https://www.mup.com.au/books/fair-share-hardback">Source: Bell &amp; Keating, Fair Share, ABS 6291.0.55.003</a>
<hr>
Many men now find themselves in jobs that don’t have good growth prospects.
It means that their job security is less than in the past and their bargaining power for higher wages is less than in the past.
In sum, the skewed distribution in where the jobs are being created suggests that many Australians, particularly men, are missing out. Highly educated men (and women) can still get good jobs, but in most industries and occupations, prospects are stagnating.
Risk averse workers
A likely consequence is that workers, and perhaps especially male workers, have become less keen to take risks, including the risk of asking to be paid more.
Another risk is attempting to change jobs. Job-switching typically leads to higher pay – not only for those who switch, but also, to a lesser extent, for those who stay as higher pay flows through.
Recent treasury research found that job-switching rates fell by about <a href="https://treasury.gov.au/sites/default/files/2019-07/2019-04_wage_growth_in_australia_lessons_from_longitudinal_microdata.pdf">2 percentage points</a> between 2003 and 2015 (the end-date of its data). It is very likely to have fallen since.
The treasury research found that each 1 percentage point decline in job-switching was associated with a <a href="https://treasury.gov.au/speech/s2019-396067">½ percentage point decline</a> in average annual wage growth – meaning the decline of 2 percentage points or more would account for a substantial part of the recent decline.
<hr>
Wage growth, annual
<a href="https://images.theconversation.com/files/317041/original/file-20200225-24664-54xsfn.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/317041/original/file-20200225-24664-54xsfn.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Annual change in total hourly rates of pay excluding bonuses. <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6345.0">Source: ABS 6345.0</a>
<hr>
Broad implications
The less fluid and less dynamic labour market might also be impacting the transmission of technological change and productivity growth.
Adoption of new technologies accelerates when workers switch to the most productive firms.
The treasury finds that the difference in employment growth between high and low productivity firms has fallen by <a href="https://treasury.gov.au/sites/default/files/2019-07/2019-04_wage_growth_in_australia_lessons_from_longitudinal_microdata.pdf">1½ percentage points</a> since 2012, the point at which productivity growth began to slow.
And declining confidence about job prospects might also be affecting political attitudes.
Today, the Labor Party no longer has the exclusive loyalty of workers. Instead, ever since John Howard targeted and gained the support of “tradies”, the Coalition has increasingly sought support from workers who feel less secure, both about their own jobs and also about the future more broadly.
Often these people respond to what they see as a loss of security and status by attaching themselves to strong leaders. They can become loyal to inherited values, and can be hostile to outsiders or change, viewing them as challenges to inherited values. They can mistrust experts, especially when the advice of those experts clashes with their inherited beliefs and what they see as their traditional way of life.
It is possible that Morrison won the last election because (like Trump) he appealed to people who felt they have lost security and status, and opposed change. He offered reassurance, partly because of his style, but also because of his resistance to change.
If Labor is to become competitive, it needs to develop policies that will restore confidence among workers that they have a good future. It isn’t an impossible task.<img src="https://counter.theconversation.com/content/132249/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/michael-keating-528224">Michael Keating</a>, Visiting Fellow, College of Business &amp; Economics, <a href="https://theconversation.com/institutions/australian-national-university-877">Australian National University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-jobs-market-is-nowhere-near-as-good-as-youve-heard-and-its-changing-us-132249">original article</a>.
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The Australian jobs market is nowhere near as good as you've heard: Michael Keating

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GUEST OBSERVATION
Australia’s catastrophic bushfire season has done immense damage to Australia’s tourist industry. Then, just as heavy rain began to bring the situation under control, came the coronavirus outbreak in China – now the top source of international visitors to Australia. Tourism from China, already greatly reduced, ended with the ban on non-citizens travelling from China.
The general assumption has been that, once the immediate crises are over, Australia’s tourist numbers will bounce back.
Optimists point to examples such as Japan following the March 2011 earthquake and tsunami that killed more than 15,000 people, resulted in the <a href="https://www.iaea.org/newscenter/focus/fukushima" target="_blank">Fukushima Daiichi nuclear disaster</a> and forced more than 500,000 people to evacuate.
Tourism to Japan took a hit. International visits in 2011 fell 28%, to <a href="https://theconversation.com/making-it-safe-tourism-after-japans-earthquake-5691" target="_blank">6.2 million</a> from 8.6 million in 2010. By the end of 2012, however, numbers were back to more than 8.3 million. Tourism to the devastated Fukushima region took a little longer to bounce back, but by fiscal 2015 had recovered to nearly <a href="http://www.fukushimaminponews.com/news?id=709" target="_blank">90% of numbers in fiscal 2010</a>.
The same was true of the 2004 Boxing Day tsunami that wreaked catastrophic damage and killed an estimated 230,000 people in Indonesia, Sri Lanka, India, Thailand and other countries in the Indian Ocean region.
Terrorist attacks in major cities have a similar immediate impact on travel, but this soon dissipates.
There are, however, good reasons to think this time is different.
Unprecedented duration
First, most disasters of this kind have been single-day events. Relief efforts and damage assessments can dominate the news for a week or more, but other events soon take their place.
By contrast, Australia’s bushfire emergency ran for months, generating extensive worldwide coverage for much of this time. The COVID-19 outbreak epidemic is still front-page news and will probably remain so until it has been contained.
Second, the typical shock of this kind has no long-term effect on perceptions of the country where it takes place. The vulnerability of the Pacific Rim to earthquakes and tsunamis has long been known, and the occurrence of an earthquake in Japan does not make another one any more likely (if anything the opposite).
Similarly, terrorist attacks can and do happen anywhere. While there are countries where terrorism risks discourage most tourists – Afghanistan, Iraq, Nigeria and Syria being <a href="http://visionofhumanity.org/app/uploads/2019/11/GTI-2019web.pdf">the top four</a> – in most of the world no possible destination is more or less at risk than any other, and the risk remains even if you stay at home.
By contrast, the bushfire cataclysm has been unprecedented in terms of duration and the areas in southeast Australia destroyed. Sydney, Melbourne and Canberra were all cloaked in smoke.
The image of Australia as a clean, green destination for outdoor fun – promoted in an advertising campaign in Britain featuring Kylie Minogue even as the disaster raged – has been replaced by burnt-out landscapes where the next fire may be even worse than the last.
The Australian government’s handling of the issue has added to negative perceptions. International coverage of the bushfires has repeatedly mentioned the “<a href="https://www.washingtonpost.com/climate-environment/as-fires-devastate-australia-a-coal-loving-leader-faces-an-early-test/2020/01/08/a7827ebc-3178-11ea-91fd-82d4e04a3fac_story">coal-loving</a>” Australian government’s failure to deal with the fact its fossil fuel exports contribute to the conditions that make catastrophic fires more likely.
Washington Post <a href="https://www.bloomberg.com/opinion/articles/2020-01-06/bushfires-reap-what-australia-s-carbon-exports-have-sown">columnist David Ickling</a> put it like this:
"It’s a rude dose of reality for Prime Minister Scott Morrison, a former tourism-promotion bureaucrat whose lackadaisical, image-obsessed initial response to the fires has caused him to be lampooned on social media as #scottyfrommarketing."
"And yet a generation before Morrison came on the scene, Australia was already lying to itself and the world about its role in the climate change that has fuelled this disaster. If any goodness can sprout from the devastation of these fires, it will start with a more honest reckoning about how successive governments have sold off Australia’s future for a handful of coal."
Finally, the bushfires affected as many tourists as locals. The fires in southern New South Wales and eastern Victoria in particular trapped thousands of tourists taking Christmas-New Year holidays in normally pleasant seaside resorts.
This is not usually the case with disasters, with some exceptions. Most of the 202 people killed in the 2002 Bali bombings were tourists, for example, as were the majority of more than 4,000 people killed in Thailand by the Boxing Day tsunami.
Memories will fade over time, at least until they are rekindled by another disaster. But we should not expect this to happen quickly. The damage the bushfire catastrophe has caused to Australia’s position in the international tourism market is likely to last for years to come.<img src="https://counter.theconversation.com/content/131894/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/john-quiggin-2084">John Quiggin</a>, Professor, School of Economics, <a href="https://theconversation.com/institutions/the-university-of-queensland-805">The University of Queensland</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/this-time-is-different-australias-tourist-numbers-may-take-years-to-recover-131894">original article</a>.
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This time is different, Australia's tourist numbers may take years to recover

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When commenting on property price drivers such as infrastructure, the largest of the lot is the Badgerys Creek Airport and surrounding development, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their values to give an educated outlook on the residential market in their service areas.
"This area will be transformed from cow paddocks and market gardens into a bustling metropolis aptly named the Aerotropolis," the valuation firm said. 
The report suggests one market to keep an eye on is the new unit market in the Parramatta local government area. 
A significant amount of new units are expected to be completed in the first half of 2020 and this will continue with up to 21,100 dwellings forecast to be constructed by 2023, most of these being residential units. 
"What we do know is that there is a large difference between forecast numbers and actual construction numbers as developers may hold off on construction to ride out lulls in the market, so we will wait and see how things unfold," the valuation firm stated. 
Traditionally, a large number of completions leads to more stock entering the resale market. 
Given the negative market sentiment surrounding new units over the past year, vendors must be prepared to meet the market in order to facilitate a sale.
<a href="https://www.propertyobserver.com.au/images/2020/2/10/western%20syd.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/10/western%20syd.jpg" alt="">
Source: HTW
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Western Sydney has seen a boom in granny flat construction over the past decade, with property owners taking advantage of larger allotments to build granny flats to add value and create a second income. 
"With interest rates at historic lows and the potential for five percent plus returns, we believe granny flat construction will continue to be a popular choice for investors throughout 2020," the valuation firm said. 
A recent example is <a href="https://www.realestate.com.au/sold/property-house-nsw-blacktown-132604830" target="_blank">24 Duckmallois Avenue, Blacktown</a> (pictured below), an older three-bedroom dwelling with a new two-bedroom granny flat at the rear, which sold for $757,000 in December, returning $800 per week in rent. This equates to a gross yield of approximately 5.5 percent.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/10/blacktown.jpg" alt="">
"The high growth seen in the last quarter of 2019 is unlikely to continue throughout 2020. Affordability will be a key issue.
"As household incomes are still under significant pressure, buyers will need to look to the outer suburbs in order to find affordable property. This will benefit the western suburbs of Sydney where there is still property at an affordable price point, relatively speaking," the valuation firm stated. 
Investors will be prevalent throughout 2020 with yield a big driver.
Prudent purchasers should keep an eye out for any infrastructure being built and get in before prices shift again.
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