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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EXPERT OBSERVER
<div>Net permanent and long-term arrivals sat at +299,670 over the year to October 2019, pointing towards strong ongoing population growth. </div>
<img src="https://1.bp.blogspot.com/-EoVcdJyQ2XA/XfHkL_dhFYI/AAAAAAAAzVo/9GUyowwMG4A1DQCcZWrdwf39145Je7XWQCNcBGAsYHQ/s640/A1.jpg" width="640" height="374" data-original-height="824" data-original-width="1408">
Short-term visitors
Short-term visitors from China and India have resumed their upwards trend.
<div class="separator"><img src="https://1.bp.blogspot.com/-S7qFu0ddQ2o/XfHkL86i2nI/AAAAAAAAzVs/Cd8rwjftgcwYecBVKAWoeGc8RvnFiPRSwCNcBGAsYHQ/s640/A2.jpg" width="640" height="356" data-original-height="811" data-original-width="1450"></div>
And, as previously noted here, study is a big drawcard, with a record number of temporary visas on issue for international students. 
<img src="https://1.bp.blogspot.com/-tQvbHQFrvd8/XfHkMCCN9pI/AAAAAAAAzVw/4gdtFxjyrPgc0tzsu45ayYLUmnpJPj3igCNcBGAsYHQ/s640/A3.jpg" width="640" height="366" data-original-height="791" data-original-width="1378">
I've been watching with interest to see whether there's been more action from Hong Kong, but if there is it's not evident in short-term visitor figures. 
<img src="https://1.bp.blogspot.com/-wAXic8jXbrk/XfHlU0qq3yI/AAAAAAAAzWY/do9_wdhBCr0oYKVQ9c0e3cYfJ1ZQqTv-gCNcBGAsYHQ/s640/A4.jpg" width="640" height="370" data-original-height="813" data-original-width="1405">
The main beneficiary of the student trend looks likely to be Victoria.
<img src="https://1.bp.blogspot.com/-w2NjM3Jt9CA/XfHkMxuilpI/AAAAAAAAzV4/7Z__muzy-gIdr0OZQN5hIgUK2uoQwoSkACNcBGAsYHQ/s640/A5.jpg" width="640" height="368" data-original-height="807" data-original-width="1399">
Not much new here, except confirmation that more student visitors from Asia continue to come in record numbers, and that population growth looks likely to remain at around +1.6 per cent or thereabouts.
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>. 
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International student surge ramps up: Pete Wargent

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EXPERT OBSERVER
<div>Moves to slow permanent migration to Australia took some effect across recent quarters.</div>
<div> </div>
<div>The natural increase of the population was a bit higher over the 2019 financial year at +142,600.</div>
<div> </div>
<div>And net overseas migration of +238,800 was just +100 higher than it was in the prior year. </div>
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<div>Overall, population growth in FY 2019 was therefore only modestly higher year-on-year at +381,600 (FY 2018: +380,800).</div>
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<div class="separator">
<img src="https://1.bp.blogspot.com/-NZQIqWCq11A/XftAQbU_Y1I/AAAAAAAAzb0/pKAFo-0IVxYhmhH8RKtSPZO0ogHr0gFKgCNcBGAsYHQ/s640/C2.jpg" width="640" height="376" data-original-height="816" data-original-width="1387"> </div>
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<div>The rampant population growth of a few years ago has therefore eased a little, although levels of growth do remain very strong. </div>
<img src="https://1.bp.blogspot.com/-LHpqcnKfzS0/XftAQe19E8I/AAAAAAAAzbs/pcRC-Fl0cck2S3xeszxVlWjAz46wonGYgCNcBGAsYHQ/s640/C3.jpg" width="640" height="376" data-original-height="813" data-original-width="1377">
<div>South-east Queensland as a destination continued to dominate the interstate moves over the financial year, while net interstate migration to Victoria has now calmed down a little. People are less inclined to leave Western Australia now than they have been for some years. </div>
<div> </div>
<div class="separator">
<img src="https://1.bp.blogspot.com/-q-ez-aBzruE/XftAQY2YUhI/AAAAAAAAzbw/pyU_WjwI7iUnShI4BSw-JQbTTocrJCvPgCNcBGAsYHQ/s640/C1.jpg" width="640" height="382" data-original-height="830" data-original-width="1387"> </div>
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<div>Piecing it together, some 86 per cent of population growth in FY 2019 was accounted for by New South Wales (+109,400), Victoria (+132,800), and Queensland (+85,700).</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-7eTpm9BOtFE/XftARHsgOVI/AAAAAAAAzb4/jX74T6wiBOUhIwoD5DzWwvnsdgW0GStNgCNcBGAsYHQ/s640/C4.jpg" width="640" height="370" data-original-height="815" data-original-width="1407"></div>
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<div class="separator">The estimated resident population of the Northern Territory continues to shrink, to be down by -1,200 over the year to June 2019.</div>
Nerida Conisbee of REA Group has noted that the Darwin housing market is really struggling, with no positive indicators registered at all.a
Next up we can map these figures against dwelling completions.
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>. 
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Population growth of 381,600 in FY2019: Pete Wargent

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Stockland has spent about $105 million for a house and land site in the Donnybrook precinct in Melbourne’s north.
Stockland chief executive of communities, Andrew Whitson, said the acquisition extended the company’s long-term presence in the northern growth corridor of Melbourne, one of the fastest expanding in Australia.
“The northern corridor will play a key role in the future economic and employment growth of Melbourne, and is expected to be home to over 260,000 people over the next 30 years.”
<a href="https://www.bigginscottland.com.au/975-donnybrook-road-vic-donnybrook-4998958/" target="_blank">It is an 89.5 hectare land parcel </a>one kilometre east of the train station, some 30 kilometres from the Melbourne CBD.
Stockland could expect about 1400 new homes, along with a school.
It is within the approved Donnybrook Woodstock Precinct structure plan.
Some of Australia’s largest developers including Mirvac, Stockland, Satterley &amp; Dennis family have nearby holdings.
The 975 Donnybrook Road holding is about five kms from Stockland's 1100 hectare Lockerbie sheep station, Kalkallo purchase in 2010 which is now emerging as Cloverton, Melbourne’s largest master-planned community, set to have 11,000 dwellings.
 
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Stockland spend $105 million on Donnybrook house and land site

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EXPERT OBSERVER
<div>
The minutes of the December monetary policy meeting of the Reserve Bank Board have made it clear that the Board will be reassessing the economic outlook next February. Whilst it seems reasonable at the end of the year to note that a review will occur at the beginning of the next year, this has not been specifically noted in December minutes in previous years.
Further evidence of the importance of this signal is that the minutes note “economic growth and the unemployment rate remain broadly consistent with the forecasts, but members agreed that it will be concerning if there were a deterioration in the outlook”.
These two observations from the minutes strongly point to the unusual importance of the data flow over the next two months.
The Board has already noted that since the November economic forecasts were finalised “The Capex survey ( showed) … non-mining investment in 2019/20 was expected to be weaker than previously envisaged”.
We were not surprised that the Board did not repeat the comment in the November minutes that “a case could be made to ease monetary policy at this meeting”. Although that language strengthens the signal that the Board is open to cutting rates further, it loses its impact if repeated for every meeting.
The Board also resolved their views on the impact of lower rates on confidence. The November minutes noted that “they recognised the negative effects of lower interest rates on savers and confidence and… that a further reduction in interest rates could have a different effect on confidence than in the past”. However, in these minutes, the Board resolved that: “the impact of these effects [negative confidence] was unlikely to outweigh the stimulus to the economy of lower interest rates”.
Concerns about weak wages growth remain central to the Board: “it was noted that the current rate of wages growth was not consistent with inflation being sustainably within the target range… nor was it consistent with consumption growth returning to trend”. It was also observed that private sector wages growth “had levelled out in recent quarters, following its gentle upward trend of the previous couple of years”.
Last month, the RBA complimented its standard stated benefits of lower rates — the exchange rate and household and business cash flow — with the boost to house prices lifting wealth and expenditure on household goods. That theme is repeated, although while higher house prices are a benefit in the near-term, it “could be become a source of concern if borrowing were to run too quickly ahead of income growth”. Note that the emphasis is on the risk of higher debt rather than actual house prices, and given the current trend for borrowers to lift repayments to contain debt levels, it is unlikely that the Board will become concerned with rising house prices for some time yet.
With the unemployment rate being such an important source of attention for the Board, it is notable that “employment intentions among the Bank’s  liaison contacts had generally been moderate”. Westpac expects that the unemployment rate will drift higher to around 5.6% in the June quarter from the current 5.3%.
On the international front, there is an improved outlook with the noting that “some of the downside risks had receded”, although the Board remains quite cautious around the outlook for China.
Conclusion
These minutes strengthen our conviction that the Board would be comfortable easing rates further at the February meeting. The flow of economic data over the next six weeks will be critical to that decision, particularly the labour market; retail sales and confidence.
Given our forecasts, Westpac is comfortable with our current view that the RBA will reduce the cash rate from 0.75% to 0.50% at the February Board meeting. 
BILL EVANS is the Chief Economist at Westpac
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RBA highlight importance of February 2020 meeting: Bill Evans

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EXPERT OBSERVER
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As Christmas fast approaches, it will be great to see some signs of growing consumer confidence and Australians breaking the spending shackles for the festive season. 
Recently there have been some positive signs for the economy and a push by the federal government for banks to relax lending standards for small business. 
With official interest rates below one per cent for the first time in our history, the RBA can take a well-earned summer holiday as the rate cuts it has delivered this year have made an important contribution to boosting consumer confidence. 
Having upbeat consumers is the key to an economic turnaround and the domestic economy is still showing signs of improvement. It is good to see the government talking to the banks about the way they have been applying the responsible lending guidelines to small and medium-sized enterprises. By supporting more lending and our SMEs we should see positive signs of further economic improvement.
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<div class="column">
In this environment there is no real need for the RBA to do much more until they get a better view of the economy in the first quarter of next year. 
In the lead up to the summer break, I again urge mortgage holders to regularly review their home loans to ensure they are getting the best possible deal. Mortgage holders should never be complacent about their home loan. With interest rates at record lows, lenders are willing to battle for your business. Contact a mortgage broker to make sure you are getting the best terms and, most importantly, saving money.
John Kolenda is the chief executive of mortgage broking giant Finsure and is the top shareholder in the listed real estate group The Agency.
 
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jrobinson-rf4aSBido9

Upbeat consumers are the key to an economic turnaround: John Kolenda

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A retail site on Burke Road in Camberwell has sold for $4,415,000.
The 205 sqm building at 769-771 Burke Road was purchased by a South Australian investor following a competitive auction that attracted six bidders.
The shop is located between the intersection of Burke, Riverside and Camberwell Roads and Camberwell train station, and adjacent to the Camberwell Place Shopping Centre.
It is currently leased to apparel retailer Lululemon Athletica.
CBRE’s Mark Wizel, Rorey James, Nick Hage and JJ Heng managed the campaign, with the property attracting a mix of domestic and international interest.
The purchase price translates to a building rate of $21,536 sqm, and follows the sales of 755 Burke Road for $5.05 million and 509-513 Riverside Road for $4.65 million.
Mr Wizel said, "we are expecting similar levels of demand and confidence in CBRE’s remaining retail opportunities in the build-up to Christmas."
“The current low interest rates and reduced supply of quality retail opportunities through the first half of 2019 has resulted in a flight to quality from investors seeking an alternative to declining term deposit rates,” he concluded
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Burke Road, Camberwell shop sold for $4.4 million

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EXPERT OBSERVER
Australia’s public finances remain in good shape with the Federal Government on course to deliver its first Budget surplus in 12 years. But new spending measures since the April 2 Budget and the 2019 Pre-election Economic and Fiscal Outlook (PEFO) have been limited at a time when Australia’s annual economic growth rate has slowed to decade lows.
Prior to the release of today’s Mid-Year Economic and Fiscal Outlook (MYEFO), the Federal Government claimed that around $9.5 billion worth of stimulus had already been rolled out over the next two years - including income tax cuts, drought-relief and infrastructure spending. The MYEFO included new net spending of $8 billion over the next four years.
So what is driving Australia’s solid Budget position? Fiscal discipline. The Government claims real spending growth of just 1.3 per cent is around the lowest in 50 years and payments as a share of GDP at 24.5 per cent are below the 30-year historical average of 24.7 per cent. In fact, spending is $1.4 billion lower this fiscal year. The annualised deficit in the year to October (latest available) is just $78 million, suggesting that a surplus is tantalisingly close – even if the government doesn’t increase spending considerably.
Also, our exporters are going gangbusters. The weaker Aussie dollar, reduced seaborne supply out of Brazil and Chinese stimulus have boosted demand for steel-making ingredient iron ore, keeping ferrous prices elevated. And with most commodity prices higher, Australian miners - which account for around 40 per cent of total company profits - have lifted overall company tax revenue. In fact, company profits were up 10.2 per cent over the year to September to record highs. That said, overall company tax revenues are still expected to be down by $700 million this fiscal year and almost $8 billion over the forward estimates.
The estimated Budget surplus has been revised down from $7.1 billion to $5.0 billion this fiscal year; downgraded from $11 billion to $6.1 billion in 2020/21; and lower by $9.4 billion to $8.4 billion in 2021/22. Sluggish economic growth and tepid wages growth have weighed on GST receipts (down $1.8 billion in 2019/20) through lower consumer spending. And lower superannuation taxes paid and non-tax revenues have also lowered revenue by $32.6 billion over the 4-year forward estimates.
As expected, the Government has downgraded its near term forecasts for economic growth, inflation, wages growth and business investment in the near term. But the unemployment rate is expected to remain steady around current levels of 5.3 per cent. And Federal Treasurer Josh Frydenberg has stressed that “the outlook for the Australian economy is positive”, with economic activity expected to return to its long-run average growth of 3 per cent by 2021/22, supported by personal income tax cuts and infrastructure spending.
Petrol prices are irritatingly high across Australia at the moment. Unleaded retail petrol prices have hit peaks near $1.75 a litre in major capital cities in the past week – well above the national wholesale or Terminal Gate Price (TGP) of around $1.35 a litre. Prices are set to gradually ease by the weekend, but will remain elevated at $1.60-$1.70 a litre for most of this week. Of course, the timing couldn’t be worse. Most of us are about to hit the road for summer holidays and there is increased traffic on the road as the ‘mad dash’ for the shopping malls and Christmas parties continue. Airport drop-offs and pick-ups are also increasing too in the lead-up to New Year.
So why are petrol prices so high? Australia is a net importer of oil and the weaker Aussie dollar against the greenback has pushed up the cost of refined petroleum product from Singapore this year. Oil charges have also lifted at a time when crude oil prices are hovering near 3-month highs. Supply restraint by OPEC and Russia along with better demand sentiment associated with the US-China trade truce have pushed up crude oil prices.
What do the figures show?
Mid-Year Economic and Fiscal Outlook (MYEFO) 2019/20
The Federal Government is projecting a $5.0 billion underlying cash surplus (0.3 per cent of GDP) for the current financial year. The April 2019 Budget had forecast a surplus this fiscal year of $7.1 billion. A Budget surplus of $6.1 billion (0.3 per cent of GDP) is now expected in 2020/21. By 2021/22, the surplus is expected to be $8.4 billion or 0.4 per cent of GDP, before falling to a forecast surplus of $4.0 billion or 0.2 per cent of GDP in 2022/23.
The net operating balance is expected to be in surplus by $8.0 billion this fiscal year (2019/20). The April Budget had forecast a $12.9 billion surplus this year. The surplus is forecast to lift to $12.1 billion in 2020/21.
Debt: Net debt is projected to be $392.3 billion in 2019/20 or 19.5 per cent of GDP. Net debt is expected to fall to $379.2 billion (18.4 per cent of GDP) in 2020/21 then $360.8 billion (or 16.0 per cent of GDP) by 2022/23.
Gross debt, in per cent of GDP terms, is estimated to decline from 27.7 per cent of GDP in 2019/20 to 25.5 per cent of GDP by the end of the forward estimates.
Revenue: Since the 2019 Pre-election Economic &amp; Fiscal Outlook (PEFO), expected total receipts have been revised down by around $3.0 billion in 2019/20 and $32.6 billion over the four years to 2022-23. The near-term downward revisions are largely attributable to downgrades to superannuation fund taxes, GST and non-tax receipts. Downward revisions from 2020/21 to 2022/23 reflect falling individual taxes, company tax and GST receipts. Tax receipts are projected to remain below the Government’s tax-to-GDP cap of 23.9 per cent over the medium term.
Expenses: The payments-to-GDP ratio is expected to be 24.5 per cent in 2019/20, rising to 24.8 per cent by 2020/21, near the 30-year historical average of 24.7 per cent. Average annual real growth in payments is expected to be 1.3 per cent across the forward estimates.
Policy decisions: Since the 2019 PEFO, new policy decisions in the 2019/20 MYEFO have reduced payments by $1.3 billion over the four years to 2022/23. And the estimated impact over the forward estimates of remaining unlegislated Budget repair measures, announced prior to the 2019/20 MYEFO - after taking account of parameter changes - is now +$4.9 billion. This comprises around $2.3 billion of receipt increases and around $2.5 billion of payment savings.
Commodity assumptions: The iron ore spot price is assumed to remain at US$55 per tonne free-on-board (FOB) over the forecast period. The metallurgical coal price is assumed to remain around current levels of US$134 per tonne FOB over the forecast period, below the assumed by the 2019 PEFO of US$150 per tonne FOB. The thermal coal price is assumed to be US$64 per tonne FOB over the forecast period, below the 2019 PEFO assumption of US$91 per tonne FOB.
Economic outlook: Economic (real GDP) growth is forecast to be 2.25 per cent in 2019/20, down from 2.75 per cent estimated in the April Budget. Real GSP growth is forecast to lift to 2.75 per cent in 2020/21 and 3 per cent annually by 2021/22. Wage growth, which was forecast at 2.75 per cent in the April Budget, has been downgraded to a weaker 2.5 per cent for the next two years, with the government not forecasting a return to 3 per cent growth until 2022/23. Inflation forecasts have also been lowered by 25 basis points to 2.0 per cent this fiscal year (2019/20) and 2.25 per cent in 2020/21. The unemployment rate has been revised up to 5.25 per cent over the next couple of fiscal years before falling to 5 per cent in 2021/22 and 2022/23. Estimated business investment is now forecast to be 1.5 per cent this fiscal year, down from the 5 per cent projected in the 2019 PEFO.
Credit rating implications: S&amp;P Global Ratings has reiterated that it expects the Government to maintain strong fiscal discipline and policy settings in order to retain Australia’s prized sovereign AAA credit rating.
Petrol prices
According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 9.9 cents to 154.8 cents a litre last week. The metropolitan price rose by 14.5 cents to 157.8 cents a litre and the regional price lifted by 0.6 cents to 148.6 cents a litre.
Average unleaded petrol prices across states and territories over the past week were: Sydney (up 20.6 cents to 159.2 c/l), Melbourne (up 20.7 cents to 161.1 c/l), Brisbane (up 26.0 cents to 168.3 c/l), Adelaide (down 18.5 cents to 142.9 c/l), Perth (down 0.6 cents to 145.6 c/l), Darwin (down 0.6 cents to 142.1 c/l), Canberra (unchanged at 147.7 c/l) and Hobart (unchanged at 156.0 c/l).
The smoothed gross retail margin (2-month rolling average) for unleaded petrol rose from 13.51 cents a litre to 15.00 cents a litre (24-month average: 13.2 cents a litre).
The national average diesel petrol price was unchanged at 149.0 cents a litre over the week. The metropolitan price fell by 0.1 cent to 147.5 cents a litre and the regional price was flat at 150.2 cents a litre.
Today, the national average wholesale (terminal gate) unleaded petrol price stands at 134.6 cents a litre, down by 0.1 cent over the week. The terminal gate diesel price stands at 137.1 cents a litre, up by 1.0 cent over the past week.
MotorMouth records the following average retail prices for unleaded fuel in capital cities today: Sydney 163.3c; Melbourne 164.4c; Brisbane 167.4c; Adelaide 166.5c; Perth 135.0c; Canberra 147.6c; Darwin 142.1c; Hobart 156.0c.
The key Singapore gasoline price fell by US$2.58 or 3.4 per cent last week to US$73.65 a barrel. In Australian dollar terms, the Singapore gasoline price fell by $5.13 or 4.6 per cent to $106.34 a barrel or 66.88 cents a litre.
Purchasing managers’ survey - December
The Commonwealth Bank/IHS Markit ‘flash’ purchasing manager (PMI) survey for manufacturing fell from 49.9 points in November to a 3½-year low of 49.4 points in December. The services index fell from 49.7 points in November to 49.5 points in December. Any reading below 50 indicates a contraction of activity.
According to the Commonwealth Bank, “The PMI readings indicate that the Australian economy ended 2019 on a softish note. The RBA’s “gentle turning point” for the economy remains elusive. And the weakness in private spending evident in the Q3 GDP data looks to have continued in Q4, with a flow on to labour demand as well. There were also some early indications that the disruptions associated with the terrible bushfires around Sydney and elsewhere are having some impact”. New orders continue to rise, however, indicating a degree of resilience in the domestic economy. The rise in new export business also indicates a degree of resilience to the sluggish global backdrop”.
Chinese economic data - November
Retail sales rose at an 8.0 per cent annual rate in the year to November (consensus: +7.6 per cent), up from the 7.2 per cent annual rate in the year to October.
Industrial production rose at a 6.2 per cent annual rate in November (consensus: +5.0 per cent). Production had risen by 4.7 per cent in the year to October.
Fixed-asset investment rose by 5.2 per cent in the 11 months to November on a year earlier (consensus: +5.2 per cent), unchanged from the 5.2 per cent lift recorded over the 10 months to October - the weakest annual growth rate since records began in 1998.
Property investment rose by 10.2 per cent in the 11 months to November on a year earlier, down from the 10.3 per cent annual growth rate in October.
The unemployment rate (nationwide survey-based jobless rate) was steady at 5.1 per cent in November.
What are the implications for interest rates and investors?
Commonwealth Bank Group economists expect another interest rate cut by the Reserve Bank of Australia in February 2020. It appears that Governor Philip Lowe’s pleas for significant fiscal easing in today’s MYEFO have ‘fallen on deaf ears’.
Aussies are pessimistic at the moment with consumer and business confidence both in the doldrums. The export and government sectors are propping up the economy, but businesses and consumers remain on a spending strike. So an even greater fiscal response appears necessary - to complement record low interest rates - in order to cajole businesses to invest and hire with consumers currently banking tax cuts and paying down debt.
The Federal Government’s solid fiscal position gives it scope to lift spending to support economic growth when it hands down the May 2020 Budget. Aside from ‘big ticket’ public transport infrastructure projects, perhaps greater attention should be given to providing tax relief for small businesses? The asset write-off threshold could be lifted further (to above $30,000) and tax cuts (to 25 per cent) brought forward from 2021/22.
And with stamp duty money from the buoyant property market filling the coffers again, payroll tax exemptions should be a top priority for state governments – especially for agricultural and manufacturing-focused businesses. The drought continues to weigh on farm GDP and manufacturing activity is contracting by the most in 3½ years.
China’s economy appears to be stabilising into year-end. A big lift in industrial production and retail spending along with a bottoming in fixed asset investment suggests that stimulus may finally be working. The better-than-expected data dump comes after the US-China trade détente announced on Friday. While a roll-back in tariffs appears unlikely until at least February, the partial trade agreement at least provides greater certainty to businesses and may boost investment.
While Chinese authorities have maintained their desire to keep economic growth within a “reasonable range” at last week’s top level government meetings, the annual economic growth target is still expected to be adjusted lower to around 6 per cent in 2020. But in good news for Australia, it appears the policymakers plan to spend even more on infrastructure next year to stabilise growth.
CRAIG JAMES is the Chief Economist at CommSec
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cjames-5S2v74qSNK

Budget on path to surplus but no fiscal easing: CommSec's Craig James

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A three bedroom North Booval, Queensland townhouse has sold for $165,000.
It was listed with an asking price of $175,000.
The marketing material described it as a "perfect home base for travellers or downsizers or tenant ready investment opportunity."
Gai Flynn of First National Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/property-townhouse-qld-north+booval-129750514" target="_blank">90/50 Gledson Street, North Booval</a> the property is made up of three bedrooms two bathrooms and a single garage.
Set on 130 sqm, every bedroom has a ceiling fan, vertical blinds and built-in wardrobes.
Featuring a concreted alfresco outdoors plus shady shrubs for privacy.
Located within 'The Complex' which has a swimming pool and BBQ facilities available for residents, it is 1.2 kilometres from the Bundamba train station.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/north-booval-qld-4304">North Booval</a> is $279,500 according to CoreLogic.
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North Booval, Queensland mortgagee townhouse sold below asking price

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The Redcape Group has exchanged contracts to divest the Royal Hotel, Granville in Sydney for $51 mllion representing a 6.25% premium to book value.
Simultaneously Redcape announced that it has exchanged contracts to acquire the Kings Head Tavern, South Hurstville (pictured above) for $27 million.
Notably the vendor of of the Kings Head Tavern was also the purchaser of the Royal Hotel, Granville (pictured below).
Redcape CEO Dan Brady said, "these transactions are consistent with Redcape’s strategy of portfolio optimisation and demonstrates our continued focus on acquiring venues where we can increase value by enhancing their operations and applying our refurbishment capability."
"The net sale proceeds will reduce borrowings, strengthen our balance sheet and provide the Group with significant debt capacity to pursue other growth opportunities,” he added.
<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/2019/12/16/Redcape%20Royal%20Hotel%20Granville.jpg" alt="">
The completion of both transactions remain conditional to precedents including a financing condition with settlement anticipated to occur before March 2020.
Recent 2019 Redcape transactions include the divestment of St George Hotel, Belmore for $47.1 million which settleed on 16 December 2019 and the acquisition of the Eden Brewhouse in Redbank Plains for $11.5 million.
The Eden Brewhouse transaction settled on 2 December 2019.
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Redcape sells Royal Hotel, Granville and purchases Kings Head Tavern, South Hurstville

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A former hotel-turned-commercial office building in Carlton has sold for $6.8 million.
It is the first and only sale on the iconic Lygon Street strip for 2019
Colliers International’s Daniel Wolman, Oliver Hay and Dave Walker and MMJ Real Estate’s Joel Wald were appointed to auction the 659 sqm double storey corner freehold at 186-190 Lygon Street.
Their price expectations were around the $6 million mark.
“A land rate of over $16,000/sqm is exceptionally strong for this precinct and a recent record if you consider the undevelopable rear laneway which is on title,” Mr Wolman said.
Mr Walker said the prime location, directly opposite the leafy Argyle Square, and within walking distance from the University of Melbourne and RMIT, was a key selling point.
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