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 Australia</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 Australia'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 Australia 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 Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia 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 Australia 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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Cbus Property has received approval from the Department of Environment, Land, Water and Planning (DELWP) for a $1 billion office tower in Melbourne’s CBD.
The permit-approved Bates Smart-designed development, to be known as 435 Bourke Street, will comprise 59,000 square metres of office space across 49 storeys, encompassing four addresses on the corner of Bourke and Queen streets.
The commercial precinct will amalgamate the existing 140 and 150 Queen Street and 27 McKillop Street sites and is anticipated to serve as a vertical village for more than 5,500 city workers.
Cbus Property’s Chief Executive Officer, Adrian Pozzo said, “office vacancy rates in Melbourne’s CBD are at decade lows and there is little to no office space in the pipeline beyond 2023 so we are looking forward to sating some of this appetite with 435 Bourke Street.”
"The approved tower will form part of a new centre point in the Hoddle Grid and will feature multiple landscaped terraces providing an outlook across the Yarra River and iconic CBD landmarks, such as the MCG and Port Phillip Bay," he added
The diverse space will include a retail offering, double-height multi-function space for active wellness, flexible studio spaces and consulting rooms for passive wellness, as well as a rooftop garden retail offering. There will also be premium end-of-trip facilities, with accommodation for 600 bikes and associated amenities.
435 Bourke Street is targeting a 6-star Green Star rating, 5.5-star NABERS Energy rating and a Platinum WELL rating.
Demolition of the site’s existing infrastructure has commenced, with construction completion slated for 2023.
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j.ballantyne1990-6AQqhLzZaK

CBUS receives planning approval for $1 billion Melbourne office tower

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ANZ Bank has cut both its home loan and deposit rates in the lead up to the RBA's first meeting of the year.
They've cut the variable rate for new owner occupiers paying principal and interest with a 20 per cent deposit or more by 0.12 per cent. It is now at 3.12 per cent.
ANZ now offer the second lowest ongoing variable rate of the big four.
<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/2020/1/23/Big%20Four%20Variable.jpg" alt=""> Source: RateCity.
RateCity.com.au research director Sally Tindall said ANZ appeared to be doing some "spring cleaning" ahead of the RBA’s meeting next month.Note: the above rates are new customer variable rates for owner occupiers paying principal and interest.
“ANZ’s recalibration of their deposit rates ahead of the next Reserve Bank meeting suggests they are getting their house in order ahead of a potential cash rate cut", Tindall said.
“Today’s home loan cuts are testament to the ongoing competition in the mortgage market. Yesterday we saw <a href="/expert-insights/finance/westpac-makes-big-cuts-to-fixed-rate-loans">Westpac slash investor fixed rates by up to 0.50 per cent</a> and we expect others will follow in coming days,” she said.
Following <a href="/news/nab-slashes-saving-rates-again">NAB's saving rate cut earlier in the month</a>, ANZ have followed suit, cutting their Online Saver account base rate from 0.10 per cent to just 0.05 per cent, the worst of the big four.
The old introductory rate for the first three months has been trimmed from 1.6 per cent to 1.55 per cent also.
<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/2020/1/23/Big%20four%20savings%20rates.jpg" alt=""> Source: RateCity
“With a new ongoing rate of 0.05 per cent, ANZ’s online saver account is down there at the bottom of the barrel.“What’s disappointing is that while the home loan cuts are largely reserved for new customers, the savings cuts will hit everyone with an ANZ online saver account", Tindall added.
"A person with $10,000 in one of these accounts would be getting less than 50 cents in interest a month once the introductory rate expires. That’s not even enough for a litre of milk."
 
 
 
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jrobinson-rf4aSBido9

ANZ follow Westpac with interest rate cuts

<html><body>
The Westpac-Melbourne Institute Index of Consumer Sentiment declined 1.8% to 93.4 in January from 95.1 in December.
It is entirely reasonable to have expected that the Index would have fallen during this period of devastating bushfires. Perhaps it is somewhat surprising that the fall in the Index was not more severe particularly in light of the 5.8% fall we saw during the Queensland floods in 2011.
However the fall in the Index during the floods was from 111.0 to 104.6 – overall confidence levels during that period were very high – much higher than we are currently experiencing.
Indeed, since the lows of the Global Financial Crisis where the Index averaged only 89 over a 15 month period from March 2008 to May 2009 there have only been seven monthly readings where the Index has printed below 93.4.
In short, Confidence has been further eroded by the bushfires but because the Index was starting from such a modest level it was likely that the fall in Confidence would be less than some may have expected.
Arguably, because the survey occurred in a week where there was widespread rain the negative impact of the bushfires was somewhat reduced. If the survey had been conducted a few weeks earlier then the Index is likely to have fallen by even more, notwithstanding the very low starting point.
This low level of Confidence is consistent with the generally lack lustre reports on consumer spending. The surprising jump in retail sales which was reported for November is likely to have largely reflected the “Black Friday” effect. A more widespread boost to spending will be required before there are credible grounds to dispute the downbeat signals associated with the consistently low levels of the Index.
Apart from the fires, which would have been the dominant influence on Sentiment for this survey, other factors should have been somewhat supportive. Optimism around financial markets and the global economy has lifted, with the Australian share market up by 6% since the start of the year.
Furthermore, the housing related components of the survey also pointed to ongoing confidence in the housing market.
All the economic components of the Index recorded declines in January.
The ‘economy, next five years’ sub-index fell 3.7% in January and the ‘economy, next 12 months’ sub-index fell 5.4%. Both are down sharply on a year ago (–8.9% and –11.9% respectively).
The ‘time to buy a major household item’ sub-index fell 1.8% in January. At 113.4, the sub-index is well below its long run average of 127 and 4.1% down on last year, suggesting consumers are likely to be extra cautious, particularly in December and January.
Consistent with improved performance of financial markets and housing we saw the “own finances” components remain broadly steady.
The ‘finances vs a year ago’ sub-index rose 0.7% in January and the ‘finances, next 12 months’ sub-index increased by 0.9%.These components are down by 3.1% and 3.2% respectively on a year ago.
The Westpac-Melbourne Institute Unemployment Expectations Index fell 2.9% to 134 in January, up 8.4% on this time last year (recall that higher readings indicate that more consumers expect unemployment to rise in the year ahead). The readings are consistent with a slowdown in jobs growth and steady increases in the unemployment and underemployment rates over the year ahead. Note that Westpac is expecting the unemployment rate to lift to 5.6% from 5.2% over the course of the first half of 2020.
Housing-related sentiment was strong in January, with views on time to buy lifting while price expectations continued to surge.
The ‘time to buy a dwelling’ index rose 5.7% in January to 118.8, nearing the long run average of 120. Despite the increase in this index we expect that it has peaked in this cycle. The index is down by 6.4% from its peak in August, shortly after the low point for prices which occurred in June.
<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/2020/1/22/7_OBS%20graph.jpg" alt="" width="552" height="387">
Note that, similarly, the index bottomed out at 90.0 in May 2017 – coinciding with the peak in prices in the previous cycle.
On that basis (current level of 118.8 compared to low point of 90.0 in the previous cycle) it certainly appears that price gains have further to run. If, as we expect, this Index loses ground through 2020 then the pace of house price appreciation may slow. Sydney’s low point in the previous cycle was 74 in May 2017. Melbourne’s low point was 83 a little later in August 2017. Currently the Sydney index sits at 117.4 and Melbourne’s is at 105.8, off recent peaks of 130 and 133 respectively.
The Westpac-Melbourne Institute Index of House Price Expectations Index rose 8.1% in January to 151.48, up a staggering 58% over the year. While the Index has reached higher levels in previous price cycles the boost in optimism has not been as dramatic as we are witnessing in this cycle. Before, the previous peak (which had outstripped the current level of 151.48) the annual lift in the index was “only” 26.7%.
“The “Time to Buy” Index and the “House Price Expectations “Index are both likely to provide useful lead indicators of the shape of this current house price cycle. For now, the indexes are indicating that this current period of positive price action is unlikely to end in the near term.
The Reserve Bank Board next meets on February 4. Westpac expects that the Board will decide to cut the cash rate by 0.25% to 0.5%.
Markets are not convinced. Market probabilities for a rate cut are priced at around 50%.
 <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/2020/1/22/7_OBS%20Table.jpg" alt="" width="847" height="295">
The other complication around this meeting is that there has, understandably, been no public communication from the Reserve Bank for the weeks of the holiday period.
The minutes of the last Board meeting therefore take on considerable importance. From our perspective the key observations were that the Board would review the outlook in February (unusual to be so specific in minutes); the ongoing concern with weak wages growth; and the emphasis on the effectiveness of monetary policy.
In fact, the Governor has previously emphasised the boost to spending from a positive wealth effect of higher house prices and the direct impact of rising housing turnover on expenditure on household goods.
There has been recent media criticism about the effectiveness of monetary policy but the Reserve Bank Board is very clear in the minutes, “While members recognised the negative confidence effects for some parts of the community arising from lower interest rates, they judged that the impact of these effects was unlikely to outweigh the stimulus to the economy from lower interest rates”.
Finally, it is always reasonable to point to the limited further scope the Reserve Bank has with respect to easing rates. However the Board has also been clear on that point, arguing that it is the level rather than the change in rates that counts, so if lower rates are needed then best to move regardless of whether there is limited further scope.
The decision to cut the cash rate in February is also expected to be supported by a downgrade in the growth forecasts for 2020.
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bevans-rYk9SxEa4r

Consumer sentiment falls further: Bill Evans  

<html><body>
Big four bank standard savings accounts
These accounts have no ongoing terms and conditions. They typically include an introductory period which offers bonus interest for several months, before dropping to a low ongoing rate.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="81">
Bank
</td>
<td valign="bottom" nowrap width="110">
Product Name
</td>
<td valign="bottom" nowrap width="81">
Base Rate
</td>
<td valign="bottom" nowrap width="81">
Intro Rate 
</td>
<td valign="bottom" nowrap width="81">
Max Rate
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
CBA
</td>
<td valign="bottom" nowrap width="110">
Net Bank Saver
</td>
<td valign="bottom" nowrap width="81">
0.10%
</td>
<td valign="bottom" nowrap width="81">
1.55%
</td>
<td valign="bottom" nowrap width="81">
1.65%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
Westpac
</td>
<td valign="bottom" nowrap width="110">
eSaver
</td>
<td valign="bottom" nowrap width="81">
0.10%
</td>
<td valign="bottom" nowrap width="81">
1.56%
</td>
<td valign="bottom" nowrap width="81">
1.66%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
NAB
</td>
<td valign="bottom" nowrap width="110">
iSaver
</td>
<td valign="bottom" nowrap width="81">
0.11%
</td>
<td valign="bottom" nowrap width="81">
1.44%
</td>
<td valign="bottom" nowrap width="81">
1.55%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="81">
ANZ
</td>
<td valign="bottom" nowrap width="110">
Online Saver
</td>
<td valign="bottom" nowrap width="81">
0.10%
</td>
<td valign="bottom" nowrap width="81">
1.50%
</td>
<td valign="bottom" nowrap width="81">
1.60%
</td>
<td valign="bottom" nowrap width="83">
 
</td>
</tr>
</tbody></table>
Note: Max rate is the base and bonus added together 
Big four bank conditional savings accounts
These accounts require you to meet certain terms and conditions, such as one deposit a month and no withdrawals, in order to qualify for the bonus interest that month.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
Bank
</td>
<td valign="bottom" nowrap>
Product
</td>
<td valign="bottom" nowrap>
Base Rate 
</td>
<td valign="bottom" nowrap>
Bonus Rate 
</td>
<td valign="bottom" nowrap>
Max Rate
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
CBA
</td>
<td valign="bottom" nowrap>
Goal Saver
</td>
<td valign="bottom" nowrap>
0.01%
</td>
<td valign="bottom" nowrap>
0.89%
</td>
<td valign="bottom" nowrap>
0.90%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
Westpac
</td>
<td valign="bottom" nowrap>
Life
</td>
<td valign="bottom" nowrap>
0.45%
</td>
<td valign="bottom" nowrap>
1.20%
</td>
<td valign="bottom" nowrap>
1.65%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
NAB
</td>
<td valign="bottom" nowrap>
Reward Saver
</td>
<td valign="bottom" nowrap>
0.11%
</td>
<td valign="bottom" nowrap>
1.39%
</td>
<td valign="bottom" nowrap>
1.50%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
<tr>
<td valign="bottom" nowrap>
ANZ
</td>
<td valign="bottom" nowrap>
Progress Saver
</td>
<td valign="bottom" nowrap>
0.01%
</td>
<td valign="bottom" nowrap>
1.59%
</td>
<td valign="bottom" nowrap>
1.60%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="bottom" nowrap> </td>
</tr>
</tbody></table>
Note: Note: Max rate is base and bonus added together
Rates based on balances less than $50,000. The Commonwealth Bank of Australia offers higher rates for larger deposits.
Highest ongoing savings rates on <a href="http://ratecity.com.au/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">RateCity.com.au</a>
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="195">
Bank
</td>
<td nowrap width="91">
Max rate
</td>
<td nowrap width="251">
Conditions
</td>
</tr>
<tr>
<td nowrap width="195">
Xinja
</td>
<td valign="bottom" nowrap width="91">
2.25%
</td>
<td valign="bottom" nowrap width="251">
Must have linked bank account
</td>
</tr>
<tr>
<td nowrap width="195">
Up
</td>
<td valign="bottom" nowrap width="91">
2.25%
</td>
<td valign="bottom" nowrap width="251">
4 card purchases from everyday acct
</td>
</tr>
<tr>
<td nowrap width="195">
86 400
</td>
<td valign="bottom" nowrap width="91">
2.25%
</td>
<td valign="bottom" nowrap width="251">
Deposit of $1000 in everyday acct
</td>
</tr>
<tr>
<td nowrap width="195">
BOQ
</td>
<td valign="bottom" nowrap width="91">
2.15%
</td>
<td valign="bottom" nowrap width="251">
Deposit of $1000 in everyday acct
</td>
</tr>
<tr>
<td nowrap width="195">
UBank
</td>
<td valign="bottom" nowrap width="91">
2.10%
</td>
<td valign="bottom" nowrap width="251">
Deposit of $250 in transaction acct
</td>
</tr>
</tbody></table>
Note: excludes kids savers and introductory rates.
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Best saving rates amongst Australian banks, RateCity reveals 

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EXPERT OBSERVER
The Westpac/Melbourne Institute survey of consumer sentiment index fell by 1.8 per cent in January after falling by 1.9 per cent in December. The index stands at 93.4 points. Consumer sentiment is below the longer term average of 101.5 points. A reading below 100 points denotes pessimism.
The Westpac/Melbourne Institute survey of consumer sentiment includes a view on house prices. The house price index rose by 8.1 per cent in January to be up 58 per cent on the year.
In trend terms, the Internet Vacancy Index increased by 0.6 per cent in December – the biggest gain in 22 months. There are record vacancies for teachers ("Education Professionals").
<div title="Page 1">
The internet job vacancies data is a leading indicator of the job market and therefore important for consumer-focussed stocks and companies. The consumer confidence figures have implications for retailers, and other consumer-focussed businesses.
<h2>What does it all mean?</h2>
<ul>
<li>No surprises in the monthly consumer confidence report with findings in line with the more timely weekly reports. The bushfires and East Coast drought are occupying people's thoughts at present. The worry is that the economy will soften in response to the natural disasters. Aussie consumers are not yet focussed on the substantial recovery and rebuilding operations ahead. 
</li>
<li>Views on the economy are clearly more downbeat compared with consumer views on their own finances and the outlook for those finances. Overall conservatism may prevent people from engaging in retail therapy, preferring instead to save and reduce debt or help others through charity donations. 
</li>
<li>The one stand-out feature of the monthly consumer confidence report is the question on house prices. And it is clear that Aussie consumers expect house prices to soar over 2020. The house price expectations index lifted 8.1 per cent in January to be up a massive 58 per cent on the year. <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/2020/1/22/5_Graph%202.jpg" alt="" width="620" height="203"> 
</li>
<li>While positive for home owners and buyers, higher home prices are negative for budding first home buyers. The latest result is certainly something for Reserve Bank policymakers to think about. 
</li>
<li>The good news is that three indicators are pointing to better times for the job market – the skilled vacancy report, ABS job vacancies and the Westpac-Melbourne Institute unemployment expectations index. 
</li>
<li>Across Australia there is a record number of job vacancies for Education Professionals, Health and Welfare Support Workers and Health Diagnostic and Therapy Professionals. 
</li>
<li>Across states and territories, skilled job vacancies are at record highs in the ACT. And encouraging signs for Western Australia with vacancies lifting in the past seven months.</li>
</ul>
<h2>What do the figures show?</h2>
Consumer confidence
<ul>
<li>The Westpac/Melbourne Institute survey of consumer sentiment index fell by 1.8 per cent in January after falling by 1.9 per cent in December. The index stands at 93.4 points. Consumer sentiment is below the longer term average of 101.5 points. A reading below 100 points denotes pessimism. 
</li>
<li>The current conditions index fell by 0.7 per cent. And the expectations index fell by 2.6 per cent. 
</li>
<li>
Three of the five components of the index fell in January: 
</li>
<ul>
<li>The estimate of family finances compared with a year ago rose by 0.7 per cent to 82.0 points;</li>
<li>The estimate of family finances over the next year rose by 0.9 per cent to 99.0 points;</li>
<li>Economic conditions over the next 12 months fell by 5.4 per cent to 84.8 points;</li>
<li>Economic conditions over the next 5 years fell by 3.7 per cent to 87.9 points;</li>
<li>The measure on whether it was a good time to buy a major household item fell by 1.8 per cent to 113.4 points 
</li>
</ul>
<li>
Housing outlook: A good time to buy a dwelling? The index rose by 5.7 per cent to 118.8 points to be up by 3.4 per cent on the year. House price expectations rose by 8.1 per cent to 151.5 points to be up by 58 per cent on a year ago. 
</li>
<li>
Unemployment expectations fell by 2.9 per cent to 134.0 points (implying a firmer job market).</li>
</ul>
Skilled Job Vacancies - December <ul>
<li>
The Department of Employment Internet Vacancy Index rose by 0.6 per cent in December. The index is 7.9 per cent lower than a year ago, although it is up 9.6 per cent above the level recorded five years ago. 
</li>
<li>
Occupations: In December 2019 "Job advertisements increased in four of the eight occupational groups. The strongest gains were recorded for Professionals and Technicians and Trades Workers (both occupations up by 0.9 per cent), and Community and Personal Service Workers (0.6 per cent)." 
</li>
<li>Over the year to December 2019 "Job advertisements decreased in all occupational groups. The strongest declines were recorded for Machinery Operators and Drivers (down by 14.2 per cent), Sales Workers (12.3 per cent), Labourers (11.8 per cent), Clerical and Administrative Workers (11.2 per cent) and Managers (10.6 per cent)." <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/2020/1/22/6_GRAPH.jpg" alt="" width="609" height="209" style="caret-color: #000000; color: #000000; font-style: normal;"> 
</li>
<li>
Detailed occupations: Over the year to December 2019, "seven of the 48 detailed occupational groups recorded increases in job advertisements. The largest increase was recorded for Health Diagnostic and Therapy Professionals (up by 520 job advertisements), followed by Education Professions (360)". 
</li>
<li>"The largest decrease over the year was recorded for General-Inquiry Clerks, Call Centre Workers, and Receptionists (down by 1440 job advertisements)." </li>
<li>
States/Territories: Job vacancies increased in six states and territories in December: NSW (up by 0.4 per cent), Victoria (up by 1.0 per cent); Queensland (down by 0.1 per cent); South Australia (down by 0.4 per cent); Western Australia (up by 0.9 per cent); Tasmania (up by 0.5 per cent); Northern Territory (up by 1.6 per cent); and ACT (up by 0.6 per cent).</li>
<li>Over the year to December 2019, job vacancies rose in one state and one territory: NSW (down by 14.1 per cent), Victoria (down by 7.5 per cent); Queensland (down by 5.9 per cent); South Australia (down by 2.8 per cent); Western Australia (up by 2.6 per cent); Tasmania (down by 9.5 per cent); Northern Territory (down by 9.7 per cent); and ACT (up by 10.8 per cent). 
</li>
<li>
Regions: Over the year to December 2019, in three month moving average terms, job advertisements increased in 14 of the 37 IVI regions and remained steady in one. The strongest increases were recorded in Yorke Peninsula &amp; Clare Valley SA (up by 15.8 per cent), followed by Bendigo &amp; High Country VIC (9.4 per cent), South West Western Australia (8.8 per cent), Canberra &amp; ACT (8.4 per cent) and Blue Mountains, Bathurst &amp; Central West NSW (7.1 per cent). 
</li>
<li>The strongest decreases in job advertisements were recorded in Sydney (down by 16.6 per cent), followed by NSW North Coast (15.1 per cent), Darwin (13.8 per cent), Launceston and Northeast Tasmania (13.1 per cent), and Tamworth and North West NSW (12.9 per cent). 
</li>
<li>Canberra &amp; ACT (up by 8.4 per cent) and Perth (3.6 per cent) were the only capital city regions to record an increase in job advertisements over the year to December 2019."</li>
</ul>
<h2>What is the importance of the economic data?</h2>
<ul>
<li>Westpac and the Melbourne Institute release the Index of Consumer Sentiment each month. According to Melbourne Institute: "The survey of consumer sentiment was first undertaken in 1973 and was conducted on a quarterly basis until 1976, a six-weekly basis from 1976 to 1986, and has been conducted monthly ever since." Confident consumers may be more inclined to spend, especially on major items. 
</li>
<li>The Department of Employment releases a monthly Internet Vacancy Index. The index is based on a count of online job advertisements newly lodged on three main job boards (SEEK, CareerOne and Australian JobSearch) during the month. The index is the only publicly available source of detailed data for online vacancies, including around 350 occupations (at all skill levels), as well as for all states/territories and 37 regions.</li>
</ul>
<h2>What are the implications for interest rates and investors?</h2>
<ul>
<li>Consumers generally remain cautious. But where they are positive is in terms of the outlook for the housing market, expecting prices to rise in the months ahead. The hope is that rising home prices can boost wealth levels, confidence and consumer borrowing capacity and, in turn, boost spending – especially 'big ticket' items like cars. 
</li>
<li>The job market seems to be moving in the right direction. Indeed if the lift in vacancies leads to lower jobless rates, the Reserve Bank will be less inclined to cut rates. The December jobs data is out tomorrow and inflation data is released on January 29. </li>
</ul>
CRAIG JAMES is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>. 
 
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cjames-5S2v74qSNK

House prices expected to soar: CommSec's Craig James

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Westpac has made interest rate cuts of between 0.19% and 0.50% to its package fixed rate investment loans across all terms for both interest only and principal and interest repayments.
Westpac’s 0.50% interest rate cut puts its 5-year fixed rate loan for investment lending with principal and interest payments at 3.19%.
It is now the lowest rate of its kind, according to Canstar.com.au and Westpac has positioned itself in the lowest priced 10 loans in the market in all fixed investment loan categories.
<img src="https://www.urban.com.au/images/2020/1/22/Westpac%20rate%20cuts%201.JPG" alt="">
Canstar finance expert, Steve Mickenbecker said, "you know the home loan market has become competitive when a loan from a major bank has the top rate in its category."
“The investment lending market has remained sluggish, as lending to owner occupiers has shown recovery, and Westpac is clearly working to lift its share of that market.
“While Westpac’s new rates are competitive, the comparison rates are much higher, incorporating the $395 package fee and with a higher rate attaching when the loan moves to variable interest after the fixed rate period," he said.
<img src="https://www.urban.com.au/images/2020/1/22/Westpac%20rate%20cuts%202.JPG" alt="">
"Investors will have to be on their toes at the end of the fixed rate period to assure a competitive rate, he warned.
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Westpac makes big cuts to fixed rate loans

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GUEST OBSERVATION
Only a small fraction of engineers are women. Shutterstock <a href="https://theconversation.com/profiles/lisa-harvey-smith-6452" target="_blank">Lisa Harvey-Smith</a>, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
Engineering skills underpin the functioning of our societies and economies. As we face the global challenges presented by a changing climate, food and water scarcity, loss of biodiversity and globalisation, these skills will only become more important.
In Australia, we have a high demand for qualified engineers but we train <a href="https://data.oecd.org/students/tertiary-graduates-by-field.htm" target="_blank">relatively few</a> compared with similar industrialised nations.
As a consequence, about half of Australia’s engineers come from other countries. While skilled migration is an important and largely positive element of our economy, relying on skilled workers from overseas could leave us vulnerable to factors outside our control.
Extending the talent pool
One part of the engineering pipeline problem is the lack of diversity in those who engage with the subject.
Industry values diversity because it boosts innovation and improves financial performance. Despite numerous outreach and engagement programs and initiatives, however, only a small fraction of undergraduate engineering students are women.
In vocational training, the number is less than one in ten; at universities it’s around one in six.
This enormous disparity means women are missing out on designing the future. It also means that engineering challenges are being tackled from a narrow set of perspectives.
A search for new ideas
In 2019 the deans of engineering at Monash University, the Australian National University and the University of New South Wales created the Engineering for Australia Taskforce. The goal of the taskforce is to find ways to boost the numbers of women applying for university engineering programs.
The taskforce has two major concerns. First, engineering enrolments do not reflect the diversity of the Australian population, particularly gender diversity. Second, engineering has a low visibility in schools and society in general.
Today, the taskforce launched <a href="http://educationfutures.monash.edu/barriers-to-participation-in-engineering" target="_blank">a new report</a> that explores what factors affect girls’ participation in engineering.
The report is authored by Professor Deborah Corrigan and Dr Kathleen Aikens from Monash University. Based on a review of international peer-reviewed research, they argue that engineering urgently needs to rebrand itself.
What can be done
The report identifies three key actions:
1. Create an inclusive vision for STEM and engineering to address stereotypes. This vision will invite and welcome excluded groups to see engineering careers as a real possibility
2. Work with the education sector to create a STEM and engineering identity in schools, by making engineering activities prominent, positive and relevant
3. Evaluate engineering intervention programs to find out what works.
Potential interventions could involve changes to the school curriculum, adding extracurricular activities or through media campaigns, or something else.
Engineering identity
The lack of an “engineering identity” in schools is a persistent problem and one that resonates particularly strongly with me.
As Australia’s Women in STEM Ambassador, I have visited schools and observed science classes in every state and territory of Australia. I have seen students carrying out sophisticated engineering projects that tackle important societal and environmental challenges.
Often, students don’t recognise that what they are doing is engineering. Students either don’t understand what engineering is, or they don’t see engineering as an attractive career.
Ask a year 9 student if she wants to design a system for rare pygmy possums to safely cross a highway, and you will probably get an enthusiastic yes.
Ask the same student if she wants to be a mechanical engineer, and the response may be lukewarm at best.
So identifying engineering by name where it happens in schools, emphasising the social context of engineering and socialising female role models in engineering are all important steps.
Plan and evaluate
As with all educational interventions, it is vital to plan carefully based on specific desired outcomes and evaluate how effective the program has been.
This will ensure dollars are well spent, and also provide a framework for future educational programs. Evaluation lets us learn the best ways to engage target groups in strategically important areas of training or study for Australia’s economy.
The Engineering for Australia Taskforce report provides important engineering-specific information. Its recommendations are consistent with those of the Australian Academy of Science’s broader <a href="https://www.science.org.au/support/analysis/decadal-plans-science/women-in-stem-decadal-plan" target="_blank">Women in STEM Decadal Plan</a>, which aims to guide interventions to boost STEM engagement.
The taskforce, my office (the Office of the Women in STEM Ambassador) and the broader STEM sector will be working hard to implement these recommendations across Australia. Together, we can achieve a more inclusive, creative innovation sector and a more resilient economy.<img src="https://counter.theconversation.com/content/130282/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/lisa-harvey-smith-6452" target="_blank">Lisa Harvey-Smith</a>, Professor and Australian Government’s Women in STEM Ambassador, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australia-needs-more-engineers-and-more-of-them-need-to-be-women-130282" target="_blank">original article</a>.
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Australia needs more engineers, especially more female ones

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GUEST OBSERVATION
In public, the government is crab-walking away from its commitment to a budget surplus, saying since the bushfires that other things have become more important.
Asked directly on Tuesday whether he was prepared to sacrifice this year’s projected surplus to help the bushfire recovery effort, Treasurer Josh Frydenberg said:
Our focus is on delivering the services and support to people in need. That’s what we’ve been doing.
But less-publicly, and little noticed in the pre-Christmas release of the mid-year economic and fiscal outlook, the government has quietly buried long-standing targets for restraining spending.
Jettisoning these targets provides it with more wriggle room to increase spending to respond to things such as the bushfires and to boost the economy should it need to in 2020 and beyond.
Under the Charter of Budget Honesty Act 1998 every government must release a fiscal strategy statement alongside the Budget.
The statement is a list of the government’s budget targets. One long-standing target is “to achieve surpluses on average over the economic cycle”. Others relate to spending, tax collections, and public debt.
They are not binding but they provide a useful guide to the government’s thinking.
A looser straitjacket
Revisions to these targets can signal changes to the government’s approach.
In the pre-Christmas Mid-Year Economic and Fiscal Outlook (MYEFO), the government significantly scaled back its targets – both in number and ambition.
For example, the budget repair strategy it adopted in 2014 committed it to “deliver budget surpluses building to at least 1% of GDP by 2023-24”.
The strategy has been reproduced in every budget since then, although in 2017 the 2023-24 deadline was extended to “as soon as possible”.
In December’s MYEFO more wriggle room was added, with the surpluses of at least 1% of GDP to be reached only “when economic circumstances permit”.
<hr>
Spot the difference
<a href="https://images.theconversation.com/files/311051/original/file-20200121-187130-1h42ojy.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/311051/original/file-20200121-187130-1h42ojy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a href="https://budget.gov.au/2019-20/content/bp1/download/bp1_bs3.pdf">2019 Budget</a> <a href="https://images.theconversation.com/files/311072/original/file-20200121-117917-jev67o.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/311072/original/file-20200121-117917-jev67o.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a href="https://budget.gov.au/2019-20/content/myefo/download/MYEFO_2019-20.pdf">2019 MYEFO</a>
<hr>
Another component of the original repair strategy was that “new spending initiatives will be more than offset by reductions in spending elsewhere in the budget”.
In other words: if the government wanted to announce a new spending policy, it had to find savings elsewhere to cover the cost.
Targets missing
This target does not appear in MYEFO. A softer replacement says the government intends to “pursue budget savings to make room for spending priorities”.
This relaxing of the purse strings is already evident: the new spending measures in MYEFO on aged-care home packages, bringing forward infrastructure spending, and drought assistance are significant costs that were not paid for by spending reductions elsewhere.
Nor has the government provided any indication that its bushfire relief measures will be funded through savings.
<hr>
Gone: the commitment to cut the government’s share of the economy over time
<a href="https://images.theconversation.com/files/311074/original/file-20200121-117962-1swvsvs.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/311074/original/file-20200121-117962-1swvsvs.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a href="https://budget.gov.au/2019-20/content/bp1/download/bp1_bs3.pdf">2019 Budget</a>
<hr>
The budget repair strategy also required improvements in the budget position due to favourable economic circumstances to be “banked to the bottom line”. That target has now been removed all together.
The medium-term (10-year) fiscal strategy has also been amended to remove some of the more ambitious spending-control targets.
One was to reduce the government’s share of the economy over time.
That target has now gone, even though shrinking government spending as a share of the economy is crucial to the budget projections of growing surpluses and declining net debt over the decade.
The obvious question is – why?
The government is making big spending easier
The government might argue that it no longer needs a budget repair strategy because it expects to a deliver a surplus this year.
But its strategy was always more ambitious than a single surplus.
It wanted to reach continuing surpluses of 1% of GDP. Surplus forecasts of between 0.2% and 0.4% of GDP over the next four years indicate it is still well short of achieving them.
More likely is that it recognises that some of its targets were going to be difficult to meet.
It has already failed on <a href="https://theconversation.com/more-mirage-than-good-management-myefo-fails-to-hit-its-own-targets-108830" target="_blank">a number of occasions</a> to offset new spending with savings. Around <a href="https://theconversation.com/5-things-myefo-tells-us-about-the-economy-and-the-nations-finances-128843" target="_blank">half</a> of this year’s upside from stronger-than-expected commodity prices and employment growth was used to fund tax cuts and extra spending rather than banked to the budget bottom line.
As the <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Budget_Office/Publications/Research_reports/Medium-term_budget_projections" target="_blank">Parliamentary Budget Office</a> has pointed out, it becomes even harder to hold down spending as the budget improves.
This is all the truer amid the need for bushfire reconstruction.
It’s better to shift goal posts than repeatedly fail to score
Another possible explanation is that the government is clearing the way for fiscal stimulus. To date it has relied on the efforts of the Reserve Bank and state governments to boost lacklustre economic growth.
Reserve Bank governor Phil Lowe, <a href="https://theconversation.com/we-asked-13-economists-how-to-fix-things-all-back-the-rba-governor-over-the-treasurer-126283" target="_blank">along with many economists</a>, has argued that it should do more.
In taking off its self-imposed spending straitjacket, it is giving itself room to heed the governor’s call.
<a href="https://theconversation.com/profiles/danielle-wood-147710" target="_blank">Danielle Wood</a>, Program Director, Budget Policy and Institutional Reform, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>; <a href="https://theconversation.com/profiles/nathan-blane-934089" target="_blank">Nathan Blane</a>, Analyst, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/shelby-so-934091" target="_blank">Shelby So</a>, Researcher, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-year-new-strategy-unheralded-change-to-budget-targets-creates-space-for-stimulus-129690" target="_blank">original article</a>.
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New year, new strategy? Change to budget targets creates space for stimulus

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NAB data mapping suggests that the ABS retail trade measure will fall 0.1% m/m in December following a gain of 0.9% in November.
The ABS printed a 0.9% gain in November, while NAB forecast 0.6% (revised to 0.5%). The strong November print is likely a result of the relatively new Black Friday sales bringing forward Christmas spending into November. 
Beyond technical questions around seasonal factors, this points to ongoing weakness in the retail sector amid high consumer debt levels and sluggish wage growth.
It is unlikely that the sector will see a sustained lift any time soon. On the contrary, the catastrophic bushfire season may further damage consumer confidence in January and February.
Click <a href="https://www.propertyobserver.com.au/images/2020/1/22/NAB%20Retail%20Index%20DEC.JPG" target="_blank">here</a> to enlarge:
<img src="https://www.urban.com.au/images/2020/1/22/NAB%20Retail%20Index%20DEC.JPG" alt="">
NAB Group Chief Economist Alan Oster said, "the retail sector has numerous fundamental issues; unemployment is set to edge higher, sluggish wage growth and elevated consumer debt continue to dampen consumer sentiment, despite interest rate cuts and higher house and share prices."
"In parallel to our standard mapping equations, we are running an experimental methodology. This alternative methodology forecast a bigger rise in November and an even weaker result in December."
"If anything, our December forecast has downside risk."
"The current bushfire season – underway since September – is a national tragedy. The local economic impact in bushfire-affected areas has been extreme."
"While it is unlikely that the fires were a major influence on the national December retail data, there may be much more substantial second round impacts in January and February," he concluded.
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Weakness in the retail sector exacerbated by bushfires: NAB

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As bushfires escalate across Australia and the country falls significantly short of the targets set by other developed nations, <a href="/news/how-will-australians-live-over-the-next-decade-stockland-research">concerns about climate change</a> and the environment is undoubtedly <a href="https://www.savethechildren.org.au/media/media-releases/leading-agencies-address-climate-crisis" target="_blank">Australia's most pressing issue</a>. 
<h2>Rethinking the residential sector </h2>
The residential sector in Australia, as with other countries, is a significant contributor of overall environmental impact including greenhouse gas emissions and material consumption.
<a href="https://www.sciencedirect.com/science/article/pii/S0301421519303878?via%3Dihub" target="_blank">Recent research </a>has found that over 80 per cent of detached housing in Australia is only built to the minimum regulatory requirements which is currently 6.0 stars on the Nationwide House Energy Rating Scheme, with less than 15 per cent built to the economically and environmentally optimal 7.5 stars for the life of the dwelling. 
The way housing's deigned and constructed has a significant impact on households and society. For instance, a poorly designed and/or built home can add significant energy costs or be hard to keep cool during heatwaves in summertime and warm during winter. 
Across Australia we are seeing an increasing issue emerge in relation to energy poverty and negative health outcomes due to poor quality housing and rapidly increasing energy prices. 
<h2>Blueprint for a sustainable future</h2>
A 12-month independent study conducted by RMIT University and analysis by <a href="https://renew.org.au">Renew</a>, sustainable not-for-profit, aimed to provide evidence of qualitative and quantitative lived experience of a housing development which is attempting to deliver high quality housing. The purpose of this research is to guide other new housing developments and future revisions of minimum performance regulations for housing Australia. 
<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/2020/1/21/1_The%20Cape2.jpg" alt="">
Source: <a href="https://www.liveatthecape.com.au/images" target="_blank">The Cape Galleries </a>
 For this research, <a href="https://www.liveatthecape.com.au" target="_blank">The Cape</a> provided sustainable homes for participants. The Cape is a sustainable housing estate in Victoria's Bass Coast that demonstrates how Australian housing estates can build affordable energy efficient housing, carbon neutral homes that achieve a zero emissions, low, cost future. 
The Cape is the ideal controlled variable for this study with its combined passive solar design and construction techniques with affordable technologies such as heat pump heating, cooling and hot water systems, and solar power, to achieve carbon neutral, healthy homes that are comfortable, resilient and healthy in hot spells and heat waves, with super low running costs compared to conventional homes.
<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/2020/1/21/1_The%20Cape3.jpg" alt="">
Source:<a href="https://www.liveatthecape.com.au/images" target="_blank"> The Cape Galleries</a>
The Cape is also generating three to four times the energy it is using. It demonstrates how new “energy positive” estates can become power stations in suburbs, generating a surplus of clean energy for use on site, to help power electric vehicles, and to export to surrounding neighbourhoods and improving energy security.
<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/2020/1/21/1_The%20Cape4.jpg" alt="" style="caret-color: #000000; color: #000000;">
Source: <a href="https://www.liveatthecape.com.au/images" target="_blank">The Cape Galleries </a>
<h2>Research reveal a preference for a sustainable community</h2>
The report shows that most participating households aimed to live in The Cape permanently. 
There were a range of motivations from the households as to why they had bought land and planned to build a home at The Cape. Motivations ranged from wanting to reduce living costs and environmental impact through to being part of a like-minded community. 
Some households already lived in the area and were looking to move into sustainable and quality housing, while others were from Melbourne, or further afield, and were looking to transition living down at The Cape. 
In interviews with households after they moved, they reported that the housing was thermally comfortable, that they rarely had to use their heating and cooling systems and their energy and water bills had significantly fallen. 
The participants also spoke about how friendly the community was, even though it was still under development. Residents spoke about how the existing community welcomed new households and there were a number of community events starting to occur in the development. 
Some of the residents who were not yet living in the development would drive down from Melbourne to participate in some of the community activities such as the community gardening days.
<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/2020/1/21/1_The%20Cape5.jpg" alt="" width="677" height="425">
Source: <a href="https://www.liveatthecape.com.au/images" target="_blank">The Cape Galleries </a>
Overall the majority of households were extremely happy with the performance and quality of the homes.
The use of the development guidelines provided by the developer and the use of a design review panel helped to ensure improved outcomes from having inputs from sustainable housing experts.
<h2>Efficient energy </h2>
<div title="Page 4">
Data shows that energy imported from the grid ranged from 1,048kWh per year to 2,612 kWh per year or from 2.9-7.2 kWh/day with an average of 5.2kWh/day.
Excess renewable energy generation exports ranged from 2,625 kWh per year to 5,420 kWh per year or 7.2-14.8kWh per day and an average of 12.4kWh/day.
</div>
<img src="https://www.urban.com.au/images/2020/1/21/1%20Table.jpeg" alt="" width="614" height="308">
Analysis of the energy consumption and generation of renewable energy on 5 occupied homes in the study. Source: RMIT/ Renew 
<div class="page" title="Page 4">
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<div class="column">
Analysis from Damien Moyse shows a reduction in energy consumption of 88% compared to a typical new 6 star home of comparable size in Victoria.
In this context the house at The Cape are performing as expected and in line with data from other sustainable housing developments in Australia.
Some of the homes at The Cape have recently added battery storage to take further advantage of the energy their renewable energy systems are generating. 
</div>
</div>
</div>
<img src="https://www.urban.com.au/images/2020/1/21/1%20Table%202.jpeg" alt="" width="615" height="160">
Analysis from Damien Moyse (Renew). Source: RMIT/ Renew
<h2>A low cost future</h2>
<div class="page" title="Page 5">
<div class="section">
<div class="layoutArea">
<div class="column">
A reduction in energy consumption was noticed by the households who reported that their energy costs were significantly lower than their previous homes, estimating that they had now dropped to under $500 a year; a figure confirmed by their energy bills and the modelling we undertook which found economic savings of $2,307/year.
<img src="https://www.urban.com.au/images/2020/1/21/1%20Table%203.jpeg" alt="" width="621" height="70" style="caret-color: #000000; color: #000000;">
Source: Source: RMIT/ Renew
Some households were in credit on their energy bills. 
If the energy savings ($2,307/year) found at The Cape were replicated across all new housing in Victoria it would lead to economic savings for those households of almost $91 million per year and across Australia it would be almost $180 million per year. 
If all new housing, which is estimated at 118,300 houses per year, was built to the standard of The Cape across the next decade there could be accumulated economic savings for these households of more than $5 billion.
</div>
</div>
</div>
</div>
<img src="https://www.urban.com.au/images/2020/1/21/1%20Table%204.jpeg" alt="" width="622" height="292">
Source: RMIT/ Renew
 
 
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