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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Five developers, including two well-known institutional entities, are behind the purchase of $136 million worth of Caltex service station properties across Australia with plans for a mix of residential and retail development. 
The sales of the 25 properties - 15 in NSW, eight in Victoria, and one each in Queensland and WA - were brokered by CBRE’s Mark Wizel and Julian White with Lincoln Blackledge of Stonebridge. 
The institutional buyers purchased several sites, while three other groups purchased single sites. 
Wizel said the marketing campaign had attracted more than 2000 enquiries and ultimately 160 offers.
He said developers had been attracted by strong locations, the lack of development site options, predictions of housing undersupply, and the license agreement that offered an income well above what they were currently returning on cash in the bank. 
“Given widely forecast predictions of a looming undersupply of apartments, purchasing one or more of these sites was an ideal way to build a pipeline to cater to pent up demand whilst generating an attractive income in the interim,’’ Wizel said. 
“The market’s response to the campaign was not surprising, indeed it was a clear indication that confidence is returning to the residential development sector on the back of what has been perhaps a surprisingly quick rebound in housing prices across key markets.’’
He said the fact that the bulk of the sites were extremely well located to transport, schools and town centres made them ideal for residential redevelopment. 
Caltex Chief Development Officer David Bridger said the success of the campaign had unambiguously vindicated the divestment strategy involving a portfolio of 50 well located properties. 
“These sites had been identified as having a higher and better, non-fuel related use and obviously the market is in accord with that rationale given the success of this first tranche of sites we are very confident in putting to market another 25 sites across Australia early next year,’’ Bridger said. 
White said the properties, located in prime suburban precincts, including Surfers Paradise, Bondi, Mascot, Box Hill, and Perth, were sold via an expressions of interest campaign with purchasers having options to buy individual sites, sites in any combination or the offering as a whole.
He said the currently trading petrol stations - the first in tranche of a 50 property divestment strategy - would soon cease trading with remediation to be undertaken under a license agreement.
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wdavis-8cCN98p7xp

CBRE and Stonebridge broker Caltex service stations sales across Australia

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Australian household electricity have risen exponentially in the last decade, however new data shows that they could drop by as much as 20% by 2022 in some areas. 
Modelling conducted by the Australian Energy Market Commission (AEMC) indicate that a wave of new renewable energy entering the electricity grid is pushing down retail prices. 
Retail electricity bills are projected to fall nationally at a 7.1% average between 2019 and 2022. 
In south-east Queensland, household bills are expected to fall by 20% in that time - an average annual saving of $278. Falls in other states are projected to be smaller. 
The National Electricity Market (NEM) is one of the largest interconnected electricity systems in the world.
It comprises approximately 40,000 kilometres of transmission lines and cables, supplying nine million customers in all states and territories other than Western Australia and the Northern Territory. 
Prices have risen since 2009, after more than half a century of consistently cheaper electricity year-on-year, due to a significant and largely unnecessary rise in spending on network infrastructure, uncertainty about climate policy, and a large increase in wholesale prices. 
The latter was triggered by both rising coal and gas prices and sudden exit of coal-fired power generators, and created a disorderly transition to firmed renewables. 
The recent modelling however showed that additional electricity supply is now putting significant downward pressure on wholesale prices. 
This is due to a very large quantity of new renewable projects coming online, adding much-needed supply. 
The sudden closure of coal-fired power stations such as Hazelwood in Victoria took a lot of electricity from the system, leading to higher wholesale prices.
This drove new investment in gas, wind and solar generation, which is projected to cause prices to fall. 
Modelling shows wholesale costs falling by 10-17% by 2022 across the NEM, which should flow on to the retail price paid by households.
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AEMC predicts power prices in Australia to fall significantly 

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GUEST OBSERVATION
Transport models are often singled out as a <a href="https://www.sciencedirect.com/science/article/abs/pii/S0967070X16306606" target="_blank">barrier</a> to providing more sustainable and equitable transport services. However, abandoning transport models would <a href="https://transportfutures.co/in-defence-of-predict-and-provide-1b990a6566fa" target="_blank">most likely weaken planning</a>, not enhance it. But getting the best out of such modelling requires transparency to overcome the increasing problem of its misuse to justify predetermined political decisions.
On the 50th anniversary of the Melbourne Transportation Plan, we review the role of transport modelling as a planning tool. What are models now telling us about the future of Australian cities?
From rational planning …
The 1969 Melbourne Transportation Plan was based on the <a href="https://journals.sagepub.com/doi/10.1177/0739456X9001000105" target="_blank">Chicago Area Transportation Plan</a>, an approach that other Australian cities then adopted. A feature was the extensive collection of travel data, often for the first time. Newly available computer models were then used to predict travel demand, which the plan sought to accommodate.
This is often referred to as the “rational” or “predict and provide” approach to transport planning.
By today’s standards, the goals of the ’69 plan sound like a utopian dream of free-flowing freeways and frequent, comfortable public transport services. It assumed a population living in detached housing on quarter-acre blocks.
Melbourne’s “solution”, and that of many other cities, was to build an extensive freeway network. The car took over from the rail system as the primary mode of travel.
Today’s reality shows this has been no solution to the seemingly intractable problems of congestion and overcrowding, coupled with inequitable access to services, jobs and other opportunities.
… to political mandates
In response, it seems Australian transport agencies have abandoned the preparation of comprehensive transport plans. Gone are the days of foreshadowing projects decades into the future, with land for these road and rail projects being reserved in the planning scheme.
We <a href="https://theconversation.com/we-hardly-ever-trust-big-transport-announcements-heres-how-politicians-get-it-right-101246" target="_blank">operate in an era where political mandates</a> have replaced comprehensive planning. Transport models are no longer used to plan for the future. Instead, they are used to justify the most recent announcement.
The nexus between transport models and the justification of controversial projects results in much critical commentary. The models become guilty by association.
It is true model outputs are far from infallible. One problem is that models depend on key input assumptions such as future population. The ’69 plan, for example, assumed Melbourne would reach a population of 3.7 million by 1985, but this didn’t occur until 20 years later.
The early models also <a href="https://www.audit.vic.gov.au/report/managing-traffic-congestion?section=" target="_blank">ignored the problem of induced demand</a> – the tendency of new transport infrastructure itself to generate additional demand.
Aside from the inherent challenge of predicting the future, models suffer from the problem of “strategic misrepresentation” – more simply, <a href="https://www.propertyobserver.com.au/https://repository.library.georgetown.edu/handle/10822/833099" target="_blank">lying</a>. This can occur when models are called upon to justify a predetermined political decision.
The best safeguard against such behaviour is transparency. This is achieved by making the detailed modelling results available for peer review. Under these conditions, models can provide useful planning intelligence.
More of the same is a poor plan
A recent Infrastructure Australia <a href="https://www.infrastructureaustralia.gov.au/publications/urban-transport-crowding-and-congestion" target="_blank">report</a> predicts worsening road congestion and public transport crowding over the coming decades in all Australian capitals. These predictions are the result of the lack of endorsed strategies to deal with population growth coupled with Australia’s dependence on the private motor vehicle. Indeed, the report highlights many examples where major new road projects will worsen congestion by encouraging more car use.
A lesson from the past 50 years is that Australia’s major capitals occupy large areas by world standards and are ill suited to a transport strategy based on <a href="https://chartingtransport.com/2011/08/20/whats-happening-with-car-occupancy/" target="_blank">low-occupancy vehicles</a>. It isn’t surprising “Europeanesque” inner suburbs based around walking, cycling and public transport are increasingly <a href="https://www.pwc.com.au/press-room/2018/citypulse-melbourne" target="_blank">valued</a> as preferred places to live.
Can modelling be blamed for our collective failure to devise a realistic plan to accommodate our cities’ growing populations? At what point does the reality of everlasting congestion trump predictions of incremental travel time savings?
US President Dwight Eisenhower once <a href="https://www.presidency.ucsb.edu/documents/remarks-the-national-defense-executive-reserve-conference" target="_blank">said</a>: “Plans are worthless, but planning is everything.” Intuitively we know the pressure of population growth and the climate emergency demand a considered response. The recent work of Infrastructure Australia provides a prediction of the scale of this challenge.
We urgently need a sensible discussion about developing a realistic plan to deal with this challenge. Doing more of the same, as we have done over the past 50 years, doesn’t sound like a solution to us.
A public event to mark the 50th anniversary of the Melbourne Transportation Plan will be held on December 12 2019, hosted by RMIT University and supported by Swinburne University, Monash University and the University of Melbourne – <a href="https://cur.org.au/events/looking-back-and-going-forward-the-melbourne-transport-plan-50-years-on/">details here</a>.<img src="https://counter.theconversation.com/content/127720/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;">
Eric Keys, PhD Researcher, Centre for Urban Research, RMIT University.
Chris De Gruyter, Vice-Chancellor's Research Fellow, RMIT University.
Graham Currie, Professor of Public Transport, Director Public Transport Research Group, Director Monash Infrastructure, Adjunct Professor, Monash Art Design and Architecture, Monash University.
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-problem-with-transport-models-is-political-abuse-not-their-use-in-planning-127720">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

The problem with transport models is political abuse, not their use in planning

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The personal insolvency regulator, the Australian Financial Security Authority (AFSA), has identified and proven over $4 million of fraud, according to a new report released today.  
The Personal Insolvency Compliance Report, available now on the AFSA website, outlines AFSA’s compliance, regulatory and enforcement activities across the 2018-19 financial year.  
Hamish McCormick, Chief Executive of AFSA and Inspector-General in Bankruptcy, said the annual Personal Insolvency Compliance Report provides insight into the regulation of Australia’s personal insolvency system.
“AFSA is working to be both a firm and a fair regulator,” McCormick said.
“We undertake regulatory and compliance work to ensure that the personal insolvency system is equitable, and that all participants are meeting their obligations.
“Overall, we aim to provide the community with a personal insolvency system that they can have confidence in.”
McCormick highlighted some of the report’s key findings – including complaints against registered trustees and criminal prosecutions.
“In 2018-19, we received nearly 2,000 referrals of alleged misconduct,” McCormick said.
“We analysed each referral and found that 744 warranted further investigation. We referred 115 of these matters to the Commonwealth Director of Public Prosecutions.
“In total, 96 individuals were prosecuted for offences under the Bankruptcy Act. Our prosecutions attracted wide-ranging penalties, from fines to imprisonment.
“Pleasingly the number of prosecutions decreased in 2018-19, down from 137 in the previous year. The overall value of proven fraud also dropped, down from $5.5 million in 2017-18 to $4.6 million.”
Complaints about registered trustees, and the Commonwealth Government’s Official Trustee, both increased in 2018-19.
“In 2018-19 we received 296 complaints about practitioners, up from 257 the year prior. Similarly, complaints about the Official Trustee also rose – we received 48 compared to 10 in 2017-18.
“However, only nine complaints about registered trustees were found to be justified. And only one complaint about the Official Trustee was justified.”
The report noted that the conduct of untrustworthy bankruptcy advisers remains a potential threat to community confidence in the personal insolvency system.
In 2018-19, AFSA made a concerted effort to disrupt the activities of untrustworthy advisers, who provide dodgy advice to people at a time when they are in financial difficulty and vulnerable.
“In 2018-19, we worked closely with registered trustees and industry bodies to identify and disrupt untrustworthy advisers,” McCormick said.
“During the year we finalised three prosecutions involving untrustworthy advisers, and one more is still in progress.
“We will continue to target untrustworthy advisers in an effort to protect the integrity of the personal insolvency system. And where appropriate, we will refer matters to the Commonwealth Director of Public Prosecutions for action.”
The full report is available now on the <a href="https://protect-au.mimecast.com/s/K-fmCvl1lzI0l6WRhQWS8P?domain=news.afsa.gov.au" target="_blank">AFSA website</a>.
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Bankruptcy fraud on AFSA agenda with more than $4 million of frauds identified 

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Wodonga has fallen from the peak of the market for houses in December, joining the Central Coast, according to Herron Todd White (HTW). 
The valuation firm suggests that the six other locations at their peak are Albury, Bathurst, Canberra, Dubbo, Tamworth and the Sunshine Coast. No other market analysed is approaching the peak.
Kalgoorlie remained as a declining market while South West WA, joined Broome and Geraldton as they approach the bottom of the market.
There were four additions to the markets who have been deemed as at their lowest point, Adelaide, Adelaide Hills, Barossa Valley and the Southern Highlands joined Darwin, Perth and Towoomba, among others.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20House%20Clock%20DEC%202019.JPG" target="_blank">Click here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/12/9/HTW%20House%20Clock%20DEC%202019.JPG" alt="">
Lismore, Ballina/Byron Bay, Coffs Harbour and Bundaberg have all begun their recovery, joining 13 other locations including capital cities like Brisbane and Sydney.
There were no additions to the rising house markets with all nine locations holding steady over the month.
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Wodonga has fallen from the peak of house market: HTW Clock

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GUEST OBSERVATION
Westpac can expect a bumper turnout of shareholders at its annual general meeting in Sydney on Thursday, many of them angry at its alleged role in <a href="https://www.austrac.gov.au/sites/default/files/2019-11/20191120%20Westpac%20Concise%20Statement%20FILED%2019008953.pdf" target="_blank">facilitating child exploitation</a> in the Philippines, its 23 million alleged breaches of anti-money-laundering laws, and its initial ritualistic response to the allegations.
This included donating <a href="https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/media_release_response_plan.pdf" target="_blank">A$18 million</a> to an anti sexual exploitation charity, followed by the <a href="https://www.asx.com.au/asxpdf/20191126/pdf/44by46ysjf6w06.pdf" target="_blank">departure of its chief executive</a> and the foreshadowed departure of its chairman later in the year.
Some of those shareholders will be clutching the bank’s <a href="https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/2019_Westpac_Group_Full_Year_Financials.pdf" target="_blank">154-page financial statement</a>. They’ll need to understand it to ask questions about Westpac’s financial performance.
Back at the start of the 2000s, Westpac’s financial statement was only <a href="https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/res0900.pdf" target="_blank">35 pages</a>.
<a href="https://images.theconversation.com/files/305578/original/file-20191206-183400-xd8mu6.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/305578/original/file-20191206-183400-xd8mu6.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
 ‘Help when it matters’. <a class="source" href="https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/2019_Westpac_Group_Full_Year_Financials.pdf" target="_blank">Westpac's 154 page statement of financial results.</a>
Much of what’s been added to statements such as Westpac’s has been in response to the threat of litigation. Companies making false or misleading disclosures risk class actions. It’s safer to include more rather than less, even if it makes the total hard to navigate.
Australia has just had its <a href="https://theconversation.com/why-australias-first-securities-class-action-judgment-sort-of-cleared-myer-125925" target="_blank">first class action judgement</a>, after earlier cases that had been settled out of court. The United States has had many.
My own research with colleagues in the United States finds that caution in the face of the threat of litigation has made financial reports <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3478994" target="_blank">increasingly less readable</a> over time.
How might litigation make reports harder to read?
Firms can be sued for making misleading disclosures. This happens most often where shareholders allege that the firm failed to disclose all relevant information, or where it has failed to meet projections.
After such class actions, firms can face increasing difficulties with customers, suppliers and lenders, being seen as less credible. Managers face <a href="https://doi.org/10.1016/j.jfi.2011.09.001" target="_blank">pay cuts and termination</a>.
One way to head off such class actions is to make disclosures more detailed.
Increasing detail enables firms to add caveats, footnotes and nuance, conveying uncertainty – the consequence of which is that their reports are less clear.
How we teased out the link
<a href="https://images.theconversation.com/files/305596/original/file-20191206-90609-eomrtx.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/305596/original/file-20191206-90609-eomrtx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
<a class="source" href="http://gunning-fog-index.com/" target="_blank">The Gunning Fog Index for this article</a>
My coauthors and I examined 96,000 US annual reports issued between 1993 to 2013.
We also collected data on class actions in relation to reports for those years.
One of the best readability metrics is the so-called <a href="http://gunning-fog-index.com/" target="_blank">fog index</a>, which measures the number of syllables per word and words per sentence in order to provide a measure of the number of years of education needed to read a statement.
It says this article needs the best part of 15 years.
We also used other indexes including the so-called <a href="http://stylewriter-usa.com/stylewriter-editing-readability.php" target="_blank">bog index</a> which scores documents on word choice and sentence structure.
We captured firms’ tendency to avoid declarative statements by calculating the proportion of words that were “<a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3478994" target="_blank">uncertain</a>”, and measured their tendency to address specific legal threats by calculating the proportion of words that were legal in nature, both of which were subjective exercises.
What we found
We found litigation risk encouraged firms to take steps that reduced the readability of their financial reports.
After firms had experienced a class action, their readability metrics worsened significantly. This was even the case several years after that class action, suggesting a long-lasting change.
We found if a chief executive had experienced a class action at one job, their reports were likely to be less readable in subsequent jobs, strongly suggesting that litigation drove hard to read reports rather than the other way round.
We also found:
<ul>
<li>
litigation experience increased the size and volume of firms’ disclosures. While worsening readability, this at least had the virtue of increasing thoroughness
</li>
<li>
litigation experience was associated with using more complex words and more words per sentence. This implies firms add more detail and nuance to their disclosures, potentially increasing their accuracy
</li>
<li>
after litigation, firms used more uncertain words in their reports. This suggests they avoid declaratory statements in an attempt to better reflect the risk and uncertainty associated with projections
</li>
<li>
following litigation, firms use more legalistic terms. This implies they attempt to preempt legal action by specifically addressing potential legal issues.
</li>
</ul>
The Australian Securities and Investments Commission (ASIC) has expressed concern over what it calls “<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-279mr-asic-calls-time-on-disclosure-reliance/" target="_blank">sludge</a>” in reports that covers bases but leaves readers uninformed.
It says over-reliance on disclosure “in some ways proved an enabler” of the poor conduct revealed by the banking royal commission.
Our work and the work of ASIC suggests much needs to happen to make reports both accurate and readable.<img src="https://counter.theconversation.com/content/127102/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;">
Mark Humphery-Jenner, Associate Professor of Finance, UNSW.
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/litigation-is-the-real-reason-financial-reports-are-becoming-harder-to-read-127102" target="_blank">original article</a>.
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Litigation is the real reason financial reports are becoming harder to read

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Unit markets across Australia saw no significant movement over the past month, according to property valuation firm Herron Todd White (HTW).
The valuation firm's national property clock for December found that five locations remained at the peak of the market cycle for units.
Unit markets in Albury, Sunshine Coast, Wodonga, Tamworth and Bathurst remained at the peak. Bathurst has sat at the peak the longest.
No other markets are approaching the peak while a number of markets including Hobart, Launceston and Mildura have continued rising.
Lismore, Mackay, Melbourne, Newcastle, Illawarra, Townsville, Cairns and Geelong, among others are still just in the beginnings of a recovery.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20Unit%20Clock%20DEC%202019.JPG" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/12/9/HTW%20Unit%20Clock%20DEC%202019.JPG" alt="">
Canberra, Perth, Kalgoorlie and the Southern Tablelands continued declining while the Central Coast remains at the start of a decline.
Broome, Geraldton and South West WA have still yet to hit rock bottom, unlike Darwin, Adelaide, Brisbane and Sydney, which according to HTW are all at the bottom of the unit market
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Unit markets held steady over the month with no movement: HTW Clock

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Nine markets, the most recent being Sydney, Lismore and the Gold Coast have all reached the peak of the office market, according to valuation firm Herron Todd White latest report.
In their December National Property Clock for the office market, Herron Todd White found Ballina/Byron Bay, Coffs Harbour, Dubbo, South East NSW and the Sunshine Coast have been at the peak of the office market at least a month now.
The Illawarra office market has begun approaching it's peak as well.
Brisbane is now classified as a rising market, joining Ballarat.
Office markets that are just beginning their recovery this month Geelong and Newcastle who have joined that likes of Adelaide and Canberra, markets where a recovery as already begun.
Three capital cities remained in a bottom of the market position, Darwin, Perth and Hobart.
They are joined by Cairns, Launceston, Mackay, and Townsville, among others.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20Office%20Clock%20Decembe%202019.JPG" target="_blank">Click here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/12/9/HTW%20Office%20Clock%20Decembe%202019.JPG" alt="">
Alice Springs and Ecucha have continued to decline while the Mid North Coast is still at the beginning of its fall.
Rockhampton has joined Gladstone and South West WA as they approach the bottom of the market.
"It should come as no surprise that there was a mixed bag of results for the office market in 2019," the HTW report noted.
"Many big-city investors were looking to shore up cash flow by concentrating on commercial stock, which led to incredibly strong prices, but in less-populated areas, the outcomes were a bit more subdued."
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Sydney joins Melbourne as a peak office property market: HTW December Office Clock

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<a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/March/er20190312BullAustralianBusinessConditionsFeb.pdf">E</a>XPERT OBSERVER
As the 2019 year draws towards a close, conditions in the Australian economy remain weak. Policy stimulus is struggling to gain traction. The NAB business survey for November reports that business conditions have stabilised at low levels.
The survey was conducted from November 19 to 29. Given this timing, the survey is unlikely to have fully captured the recent “sales” - with Black Friday falling on November 29 and Cyber Monday on December 2.
The business conditions index was unchanged at +4, a below average reading. The index has moved broadly sideways since April, after tumbling from +19 over the first half of 2018.
Business confidence fell by 2pts to 0, reversing the 2pt lift in October. Confidence rallied in May, after the Federal election, but the bounce was short-lived. The lack of confidence is understandable in this challenging environment - with weak domestic sales and a slowing global economy, with heightened uncertainty around international trade.
The private business surveys correctly foreshadowed the sharp loss of momentum in the Australian economy from mid-2018, a shift that was led by the home building cycle turning from boom-to-bust, as well as by consumers.
Australia’s September quarter economic report card was another disappointing one - confirming feeble and uneven growth, at 1.7% for the year. The private sector economy is in recession, with private demand contracting by 0.3% in the quarter and declining by 0.4% over the year.
The NAB survey suggests that weak conditions have extended into the December quarter and there is a lack of momentum heading into 2020.
As to business conditions detail for November: trading conditions fell by 1pt to +6; profitability improved but remained weak, up 3pts to +3; and employment conditions moved sideways, at +4.
The survey suggests that employment conditions at this level are consistent with job gains averaging 18k per month near-term (down a little from the 20k per month average for the 2019 year to date).
We note that recently the official jobs data has fallen into line with the more downbeat forward indicators from the private business surveys to be consistent with the sluggish output results. The six month annualised pace of jobs growth has slowed to 1.6%, down from 2.5% in March.
Forward orders are weak, after a one-off gain in October, falling by 5pts to -2.
By industry, while aggregate business conditions have stabilised there has been some shift in the mix. The goods sectors have tended to weaken further since April, while services have improved somewhat. The consumer sectors have lifted off their lows, but retail is still as weak levels.
By state, weakness in trend business conditions is broadly based. Of note, the survey reports that conditions have eased in recent months in WA, mirroring the trend in the mining sector, as commodity prices moderate. Over the past three months, conditions in Qld are reportedly the softest of any of the states.
Read full report <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/December/er20191210BullAustralianBusinessConditions2019Nov.pdf">'Australian business conditions November' (PDF 201kb)</a>
ANDREW HANLAN is a senior economist for Westpac 
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Australian business conditions & confidence stablise: Andrew Hanlan

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The sod has been turned and work has commenced on Merrifield City, a retail-led town centre for Victoria’s largest mixed-use master planned community, Merrifield. 
The joint venture between QIC GRE and Merrifield developers – MAB Corporation and Gibson Property Corporation sits at the heart of Merrifield.
It is a 900-hectare, master planned community located in Mickleham, Merrifield City where retail spending for the growth corridor is also projected to rise substantially to circa $2.7 billion by 2036.
Mr Stubbings said QIC GRE’s partnership with MAB Corporation and GPC was established in 2014 when QIC GRE acquired a 50% stake in the greenfield site, as well as development and management rights.
He said, “once complete, Merrifield will be home to over 8,000 dwellings and, with a dedicated business park, create more than 30,000 jobs.
“The first stage of the vision for Merrifield City will be dynamic and convenience-based, focused on food and essential offers that service people day and night, as well as introduce the region’s first supermarket, Coles.”
"It will incorporate 6,700 sqm of retail space comprising Coles, two mini-majors and 19 speciality retailers, as well as an at-grade car park for 350 vehicles and a kid’s play zone."
MAB Corporation Managing Director, Andrew Buxton, said with stage one works already underway, Merrifield City is expected to open its doors to the community in late-2020.
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