A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

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.

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

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?

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

<html><body>
<div class="_1pYHE" data-pb-type="st">
Hotel mogul Jerry Schwartz has bought the Paradise Resort for $43 million from the abandoned Ralan empire.
It is $32 million less than what the Ralan Group purchased it for in 2015.
Ralan paid $75 million for the hotel and had plans to bulldoze the resort for three towers of Ruby apartments, until they went into administration in August 2019.
Dr Schwartz indicated that a major refurbishment program would be introduced for the 360-room hotel (picture provided by Schwartz Family Company)
“I know that previous owners planned to knock down the resort and redevelop it for apartments, but we believe there is tremendous demand for quality family-friendly resorts, especially in such prime locations as Surfers Paradise,” he added.
The Schwartz Family Company also acquired the Hilton Surfers Paradise for $70 million earlier in the year.
</div>
<div class="_1pYHE" data-pb-type="st"><a class="_1rOIN _2MxLq" href="https://www.afr.com/property/residential/global-prestige-property-markets-slump-20191112-p539pk"><source media="(min-width: 1180px)" srcset="https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.291%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29, https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29 2x" data-pb-im-config='{"aspectRatio":1.5,"type":"landscape3x2","width":220,"urls":["https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.291%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29"," https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29 2x"]}'></source><source media="(min-width: 1020px)" srcset="https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.291%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29, https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29 2x" data-pb-im-config='{"aspectRatio":1.5,"type":"landscape3x2","width":220,"urls":["https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.291%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29"," https://static.ffx.io/images/$zoom_0.126%2C$multiply_0.582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_42%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29 2x"]}'></source><source media="(min-width: 768px)" srcset="https://static.ffx.io/images/$zoom_0.0945%2C$multiply_0.2116%2C$ratio_1%2C$width_378%2C$x_185%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29, https://static.ffx.io/images/$zoom_0.0945%2C$multiply_0.4233%2C$ratio_1%2C$width_378%2C$x_185%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_52%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29 2x" data-pb-im-config='{"aspectRatio":1,"type":"square1x1","width":80,"urls":["https://static.ffx.io/images/$zoom_0.0945%2C$multiply_0.2116%2C$ratio_1%2C$width_378%2C$x_185%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_85%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29"," https://static.ffx.io/images/$zoom_0.0945%2C$multiply_0.4233%2C$ratio_1%2C$width_378%2C$x_185%2C$y_0/t_crop_custom/e_sharpen:25%2Cq_52%2Cf_auto/ccbe1857e6c46fedd39a00540030238175f65e29 2x"]}'></source></a></div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Ralan's Paradise Resort at Surfers Paradise sold for $43 million to Jerry Schwartz

<html><body>
Sydney house prices could make their way back above their 2017 peak next year, according to a new report by SQM Research.
Christopher's Housing Boom and Bust Report 2020 forecasts Sydney prices to grow between 10 per cent and 14 per cent, if factors in the most likely scenario come to fruition.
Their base scenario forecasts are built on if there are no further rate cuts in 2020, that the economy recovers and there is no APRA intervention until at least late 2020.
<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/2019/11/14/SQM%20sceanrio%20forecasts.jpg" alt="">
Sydney house prices dropped peak to trough around 15 per cent since late 2017, with the slowdown coming to an end in June.
Since then, according to CoreLogic, there have been 5.3 per cent gains over the last four months. 
“The Sydney and Melbourne housing markets have recorded a sharp turnaround in the 2nd half of 2019 following on from the surprise result of the Federal Election, interest rate cuts, the loosening of credit restrictions and ongoing strong population growth rates," SQM Research boss Louis Christopher says.
"These factors are expected to drive the national housing market into 2020. In a close call, APRA is expected to not immediately intervene despite the strong price rises."
Christopher suggests however that long term, Sydney and Melbourne markets look vulnerable and forever reliant on cheap credit.
""Sydney and Melbourne are rising from an overvalued point," Christopher says.
"Housing debt, while falling compared to GDP over 2019, is still very high.
"Better value can definitely found elsewhere such as Perth and Brisbane”, Christopher added. 
Melbourne house prices are forecast to <a href="/expert-insights/buying/melbourne-house-prices-tipped-to-rise-by-up-to-15-per-cent-sqm-research">see up to 15 per cent growth</a>. 
</body></html>

jrobinson-rf4aSBido9

Sydney house prices could jump 14 per cent in 2020: SQM Research

<html><body>
EXPERT OBSERVER
We have pushed out our expected timing of the next cash rate cut by the RBA to February 2020, where we expect a further reduction of 25bps to a new low of 0.5%.
It is at this level of the cash rate where the RBA has previously stated it would outline a ‘package’ of unconventional policies if further monetary easing is required to support growth, full employment and the return of inflation to target.
The RBA Governor is speaking on “Unconventional Monetary Policy” on November 26th.
To be clear, we think that the RBA should actually provide a further interest rate cut next month with private sector growth remaining weak and little evidence to date that prior easing or the tax rebates has done enough to offset the weakness in the economy.
However, for now, the RBA appears to be in a holding pattern, while it assesses the impact of prior rate cuts and ‘the gentle turning point’.
We see an improvement in growth over time but not to a sufficiently strong rate of growth to prevent the unemployment rate beginning to rise.
At the same time, the Government does not seem to be inclined to provide material fiscal stimulus in the near term, which increases the need for the RBA to ease further (including a further rate cut and unconventional policy) should our forecast of a deteriorating labour market materialise.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">We now expect the RBA to cut the cash rate by 25bps to 0.5% in February 2020 – and potentially announce a package of unconventional policy should there be a need to provide further stimulus to the economy going forward.</div>
<div class="column"> </div>
<div class="column">Previously we had pencilled in a cut for December (the fourth this year) – and still consider this the best course of action – but the RBA has signalled it is in ‘wait and see’ mode.</div>
<div class="column">
 Growth looks to have remained weak in Q3, with our expectation for quarterly growth now 0.3% (1.5% y/y) – a small slowing from the previous two quarters. This deterioration comes despite the support provided by tax cuts which look to have provided little offset to the weakness in consumption with retail sales declining in Q3 – though it is likely too early to see the impact of recent rate cuts.</div>
<div class="column"> </div>
<div class="column">In addition, NAB’s internal modelling suggests that the services component of consumption was also weak in Q3.</div>
<div class="column"> </div>
<div class="column">In the business sector, both business confidence and conditions have remained below average in the first month of Q4 – though encouragingly have not deteriorated further.</div>
<div class="column"> </div>
<div class="column">The forward-looking indicators suggest little significant signs of a turnaround.</div>
<div class="column">
 Further out we have broadly maintained the shape of our growth forecasts.</div>
<div class="column"> </div>
<div class="column">We expect growth of 1.6% this year, before a small improvement to 2.1% in 2020 and 2.4% in 2021. These below average rates of growth lead to a small rise in the unemployment rate.</div>
<div class="column"> </div>
<div class="column">Inflation is expected to remain weak and only reach the bottom of the target band by the end of our forecast horizon.</div>
<div class="column"> </div>
<div class="column">The key dynamics behind our assessment of the economy continue to be headwinds from a weak consumer and a significant downturn in housing construction.</div>
<div class="column"> </div>
<div class="column">We have also lowered our business investment forecasts a touch. These weak outcomes in private domestic demand continue to be partly offset by strong public sector spending and growth in exports – preventing a more troublesome slowing of growth. Our global outlook remains broadly unchanged.</div>
<div class="column"> </div>
<div class="column">While we think that fiscal policy could be used to effectively support the economy and the recent easing in monetary policy – this increasingly appears unlikely to occur in the required time frame.</div>
<div class="column"> </div>
<div class="column">We think the government should act to bring forward infrastructure investment (where constraints allow) and that an earlier introduction of planned tax cuts could usefully bolster household income growth and spending.</div>
<div class="column"> </div>
<div class="column">In addition, investment allowances to support and bring forward investment may help, as would lifting Newstart payment rates.</div>
<div class="column"> </div>
<div class="column">The risk of fiscal policy remaining on the sidelines for too long, increases the chance that the RBA will ease further than otherwise (including both further rate cuts and the use of QE) though both of the latter see longer lags in boosting growth.</div>
<div class="column"> </div>
<div class="column">As previously outlined we see the risk of a move to unconventional policy by mid-next year without material support from fiscal policy.</div>
<div class="column"> </div>
<div class="column">We think that initially the RBA could flag a package of options at around a 0.5% cash rate and would begin to implement these as rates are cut further in this scenario.</div>
<div class="column"> </div>
<div class="column">Initially, we think it is highly likely the RBA would shift to an explicit form of forward guidance and purchase government bonds.</div>
<div class="column"> </div>
<div class="column">Other unconventional measures could include a broader range of asset purchases and increasing liquidity in the short-term money market.</div>
<div class="column"> </div>
<div class="column">Long-dated repurchase agreements to banks are another option.</div>
<div class="column"> </div>
<div class="column">The choice of instruments and size of the package is likely to reflect both economic conditions and financial market circumstances at the time of implementation.</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
ALAN OSTER is the NAB Group Chief Economist
</div>
</div>
</div>
</body></html>

NAB pushes next rate cut out to February 2020: NAB's Alan Oster 

<html><body>
Kylie Kwong will open a daytime workers' eatery late next year at Mirvac's South Eveleigh work and lifestyle precinct.
It is the precinct previously known as Australian Technology Park.
Kwong, a leading fixture of the Sydney dining scene for two decades, closed her Macleay Street, Potts Point restaurant earlier this year.
Her Sydney restaurant Billy Kwong closed in June.
Kylie Kwong has since taken on a new job as the ambassador of Mirvac's South Eveleigh work and lifestyle precinct, where the Commonwealth Bank is the major tenant.
Mirvac and its consortium partners, AMP Capital, Sunsuper and Centuria Property Funds recently opened the first two buildings completed at Sydney’s newest technology hub
The anchor tenant Commonwealth Bank are located in the building known as Axle.
CBA also leases Building 2, The Foundry, which is still under construction.
The bank will have 10,000 employees at the precinct when it is completed in 2020.
Kwong will open a "small, simple" eatery late next year, the Australian Financial Review reported.
She said she didn't want to manage 40 people in her next endeavour.
</body></html>

Kylie Kwong to open workers' eatery at Mirvac's South Eveleigh 

<html><body>
The quick turnaround in the housing market looks to be more prolonged than many forecast according to new research from SQM Research.
In the new 'Christopher's Housing Boom and Bust Report 2020', Melbourne house markets could climb up to 15 per cent.
The report offers four scenarios that could play out over 2020, with the base case the most likely.
Should the cash rate remain at 0.75 per cent and there be a recovery in the economy, as well as no intervention from APRA until late 2020, then house prices in Melbourne will return to the peaks of late 2017.
Sydney gains are likely to be slightly more modest, with <a href="/expert-insights/buying/sydney-house-prices-could-jump-14-per-cent-in-2020-sqm-research">gains forecast up to 14 per cent</a>.
<div><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/2019/11/14/SQM%20sceanrio%20forecasts.jpg" alt=""></div>
<div>
“The Sydney and Melbourne housing markets have recorded a sharp turnaround in the 2nd half of 2019 following on from the surprise result of the Federal Election, interest rate cuts, the loosening of credit restrictions and ongoing strong population growth rates," SQM Research boss Louis Christopher says.
"These factors are expected to drive the national housing market into 2020. In a close call, APRA is expected to not immediately intervene despite the strong price rises."
Christopher notes however he has some misgivings on the sustainability of the new recovery.
"Sydney and Melbourne are rising from an overvalued point. Long term, our two largest housing markets look vulnerable and forever reliant on cheap credit. Housing debt, while falling compared to GDP over 2019, is still very high.
"Better value can definitely found elsewhere such as Perth and Brisbane”, said Christopher.
Nationally SQM believe dwellings will rise between seven per cent and 11 per cent.
At the most unlikely end of the scale, scenario four, if rates were cut to 0 and quantitative easing begins, then house prices in Sydney and Melbourne could be flat, or see marginal gains.
</div>
</body></html>

Melbourne house prices tipped to rise by up to 15 per cent: SQM Research

<html><body>
Newcastle retail activity has been defined by an unusual dichotomy where yields are at or near all-time lows, meaning values remain high, while the number of sales transactions has been very low compared to activity in peak market conditions from 2015 to 2018, according to the latest retail report from valuation firm Herron Todd White.
The property valuation firm found that some further discussion on the state of yields is required at this point. Well tenanted property with tenants that show strong trading history and long lease terms is still very strong and recent interest rate reductions by the Reserve Bank have helped underpin this strong market.
The report authors said, "we have seen, however, a (small) number of sales that indicate we have come back from peak market conditions, especially for those non-core retail properties that may reflect a higher degree of risk for the investor."
"Factors such as a secondary location, short lease expiry profile or partial vacancies were not being factored into yields during the market boom and the yield differential between core and non-core retail investment properties was not being adequately built into sale prices."
"We have seen a number of retail sales of such properties where yields have increased somewhat to reflect these risks. We see further adjustment required in this space, which is happening, albeit at a slow pace given the limited number of retail sales this year"
"We also anticipate this sales rate to increase somewhat in 2020 with a further easing of lending policy from major lenders. Now that the light rail has been up and running for some time, we see that a number of retailers on Hunter Street have suffered. Not only during the construction phase, but now with no parking available where the light rail runs along Hunter Street, many retailers have been forced to shut up shop or landlords are now in a position where they either accept lower rental returns or face extended letting up periods."
"We see these areas being converted from retail to office in coming years," they concluded.
</body></html>

Newcastle retail property yields are at all time lows: HTW Retail

<html><body>
The retail market in Sydney has seen moderate growth over the past twelve months as a result of increased demand for good investment assets, growth in rental income and generally lower vacancy rates, according to the latest report from valuation firm Herron Todd White (HTW).
They found that some retail precincts and shopping centres are working hard to keep up the levels of foot traffic and as such are adapting to changes in the market and demand. This has helped to retain vacancy in some areas.
The HTW report authors said, "we are of the opinion that those landlords who adapt to the changes in the market may fare best."
"Food and beverage outlets have certainly been popular this year. This part of the market has been driving tenant demand."
"As a result of adaptation and increase in demand from food and beverage retailers, we have seen rental rates remain generally stable this year following a general increase in 2018."
Despite the continued threat of online shopping and generally negative perception of the retail market, The Sydney CBD remains strong, as infrastructure improvements and new development continue and speculation about the impact of these continues to drive areas of the market.
Within the CBD, tenant demand originates from high end and luxury goods as well as food and beverage, with retailers keen to secure their positions within the CBD as infrastructure improvements, mainly the light rail, get closer to being completed and the pedestrian shopping areas of the CBD are revitalised.
Retail assets with good lease covenants have seen capital growth over the past twelve months.
Demand from investors was the driving force in the market this year.
The valuers noted, "properties with well-established retail tenants and those with underlying future development potential were the most popular."
"We saw an increase in capital values in the early part of the year and some strong sales with relatively low capitalisation rates."
"We caution however that from around July this year we have started seeing a decline in the fringe and secondary markets, in particular a slight increase in capitalisation rates, indicating that demand is slowing and that capital values are declining," they concluded.
</body></html>

Sydney retail market continues to grow without peaking: HTW Retail

<html><body>
Saving up a house deposit can take years, and over those years property prices are likely to rise with inflation – making many first home buyers feel like they're chasing shifting goalposts. Do you buy with a smaller deposit and secure a cheaper property? Or do you grow your nest egg and buy your home a few years down the track? What if you could freeze time and buy at an agreed purchase price today, giving you a set goal to work towards?

Thanks to <a href="/news/introducing-the-assemble-model-a-new-pathway-to-apartment-buying-and-ownership">housing models like Assemble</a>, this concept is becoming a reality.

<h2 class="rtecenter">ASSEMBLE launches rent-with-an-option-to-buy model in Australia</h2>

<a href="/developers/assemble">Assemble</a> is a housing model that aims to <a href="/news/first-home-buyers-camp-overnight-to-secure-affordable-property-in-geelong">disrupt the property unaffordability cycle</a> by providing more attainable housing finance options, and essentially giving first home buyers the independence and <a href="/guides">confidence</a> needed to enter the property market. The Assemble team, led by managing director Kris Daff, identified a problem – out of reach house prices and insecure lease tenure. Four years ago, Assemble began researching North American and Western European co-operative development models and decided to launch their own rent-with-an-option-to-buy model in Australia.

<blockquote>
“We’ve all watched the housing market become out of reach for many Australians with no option other than the traditional rental market. It’s unusual for renters to be offered leases longer than 12 months; this means many renters are moving every 12 months, which is an incredibly disruptive and stressful living situation.”
</blockquote>

Kris Daff, Assemble Managing Director

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/macaulay_rd_slider_1-2_0.jpg" rel="gallery-all" title="Assemble's 393 Macaulay Road, Kensington"><img alt="" class="image-article-full-width-580px" height="383" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/macaulay_rd_slider_1-2_0.jpg?itok=MmzGEo10" title="Assemble's 393 Macaulay Road, Kensington" width="580"></a>

<figcaption>Assemble's <a href="/buildings/38-albermarle-st-393-macaulay-road-kensington">393 Macaulay Road, Kensington</a></figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/macaulay_rd_slider_10.png" rel="gallery-all" title="Assemble's 393 Macaulay Road, Kensington"><img alt="" class="image-article-full-width-580px" height="383" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/macaulay_rd_slider_10.png?itok=WGdCgyx8" title="Assemble's 393 Macaulay Road, Kensington" width="580"></a>

<figcaption>Assemble's <a href="/buildings/38-albermarle-st-393-macaulay-road-kensington">393 Macaulay Road, Kensington</a></figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-11-13_at_3.14.20_pm.png" rel="gallery-all" title="Assemble's 393 Macaulay Road, Kensington"><img alt="" class="image-article-full-width-580px" height="190" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-11-13_at_3.14.20_pm.png?itok=n2iZsfhX" title="Assemble's 393 Macaulay Road, Kensington" width="580"></a>

<figcaption>Assemble's <a href="/buildings/38-albermarle-st-393-macaulay-road-kensington">393 Macaulay Road, Kensington</a></figcaption></figure><h2 class="rtecenter">How does the Assemble model work?</h2>

Residents of an Assemble property will be given a secure grace period to decide whether they would like to purchase their home upon lease maturity. If the resident does not wish to buy, they can still get their bond back like a typical lease agreement. However, if they wish to proceed with the sale, then they can secure their home for the sale price agreed to at the beginning of the tenancy – meaning any value increase over the construction and lease period it the buyer’s own financial gain.

<blockquote>
“The purchase price is fixed today, so residents know what they can purchase the apartment for in seven years. Given inflation, construction cost increases and property history, we believe our prices are conservative. Even if the property market only increases 4% over that time, residents can expect to be paying 20% less than market averages at the time of purchase.”
</blockquote>

Kris Daff, Assemble Managing Director

<h2 class="rtecenter">Tenure certainty a key catalyst behind homeownership</h2>

One of the key drivers for owner-occupier buyers to secure property is for the sense of stability it provides. It can be difficult to secure a rental for longer than a 12-month period, making it especially difficult for families with children who attend the local school to constantly relocate, and sometimes property maintenance can suffer if neglected by an unattentive landlord, making the home unpleasant to live in.

<blockquote>
“We strongly believe that everyone deserves the opportunity to access stable housing. The stability and certainty of a long-term lease enables residents to stay in one place for a long period, to make connections and establish a network. Things some people take for granted like getting to know the local GP, getting children into schools and making long term friends are more possible when people are provided with tenure certainty.”
</blockquote>

Kris Daff, Assemble Managing Director

While buying a home is not an option for a lot of renters in Australia due to the high cost of living and financial stability, rent-to-own options can provide a smoother transition into homeownership even for those who have written off buying in the current property market completely.

<h2 class="rtecenter">Assemble enabled first home buyers Fenella and Lee to break into the property market</h2>

CASE STUDY

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ap_stories_323_web.jpg" rel="gallery-all" title="Lee Johnston and Fenella McGowan. Photo: Tom Ross."><img alt="" class="image-article-full-width-580px" height="870" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/ap_stories_323_web.jpg?itok=ZmLtRMNK" title="Lee Johnston and Fenella McGowan. Photo: Tom Ross." width="580"></a>

<figcaption>Lee Johnston and Fenella McGowan. Photo: Tom Ross.</figcaption></figure>First home buyers Fenella McGowan and her husband Lee Johnston had been encouraged to explore the option of 'rent-with-an-option-to-buy' by two friends who had already bought into the model. Fenella explained that unless they had looked into this opportunity, they couldn’t have afforded to buy into the current market.

<blockquote>
“[Assemble] seemed like the only way my husband could break in to the market to be honest! We were finding saving for an unknown really difficult, especially when you continually see the market prices rise. It can be really demotivating. This gave us the opportunity to lock in a space, in a suburb we love with the knowledge of how much exactly we need to save.”
</blockquote>

Fenella McGowan, Assemble property buyer

The couple already lives in <a href="/developments/kensington-vic-3031">Kensington</a> and wanted to remain in the area, so when they heard about Assemble’s new development, they decided to jump at the opportunity and were glad they did.

<blockquote>
“Both my husband and I are looking forward to finally owning a space of our own… I’m actually possibly most excited about having a bath! There’s also the added luxury of being able to build up close relationships with your neighbours – something of which can be a little harder when you’re in a stand-alone home. Especially considering we’re expecting our first child; we feel really positive about the added level of security in that sense.”
</blockquote>

Fenella McGowan, Assemble property buyer

<h2 class="rtecenter">What added benefits do Assemble homes offer buyers?</h2>

1. Financial security

Assemble has worked closely with ANZ to assess the mortgage serviceability of their homes, catering to a household income of $60,000 and upwards – and are also committed to providing at least 70% affordable housing to low- and moderate-income earners.

Buyers will also receive free financial coaching to buyers and explore the possibility of bulk buying discounts for expenses such as energy, data, and groceries with the goal of reducing household expenses by approximately 20%.

2. Ability to customise your home

Even during the rental period, residents will have the freedom to customise their home and won’t need permission for superficial improvements such as interior painting or installing a cat/dog door.

3. Outstanding sustainability credentials

Assemble projects have a goal to achieve a minimum 7-7.5 star NatHERs rating across all developments. Each project also adopts several passive design principles including orientation, shading, cross-flow ventilation and external circulation, green roofs and communal open space.

4. Emphasis on communal space

Assemble has practical community spaces such as workshops, a lending library, edible gardens, laundry and clotheslines, flexible communal rooms with a kitchen, dog washing facilities and kids play areas.

5. Assemble are planning for the future

Assemble Managing Director Kris Daff explains that the team is highly dedicated to future-proofing their properties by negotiating extended warranties and maintenance obligations with suppliers and contractors.

<blockquote>
“We ensure the materials we choose are not only beautiful in their design but are also durable, age well and are responsibly sourced.”
</blockquote>

Kris Daff, Assemble Managing Director

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fieldwork_roseneath_ctatjana-plitt_57a9392.jpg" rel="gallery-all" title="Assemble's 122 Roseneath Street, Clifton Hill"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fieldwork_roseneath_ctatjana-plitt_57a9392.jpg?itok=NbHQL9i3" title="Assemble's 122 Roseneath Street, Clifton Hill" width="580"></a>

<figcaption>Assemble's <a href="/buildings/122-roseneath-st-122-roseneath-street-clifton-hill">122 Roseneath Street, Clifton Hill</a></figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fieldwork_roseneath_ctatjana-plitt_57a8844.jpg" rel="gallery-all" title="Assemble's 122 Roseneath Street, Clifton Hill"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fieldwork_roseneath_ctatjana-plitt_57a8844.jpg?itok=FQzT2Qeo" title="Assemble's 122 Roseneath Street, Clifton Hill" width="580"></a>

<figcaption>Assemble's <a href="/buildings/122-roseneath-st-122-roseneath-street-clifton-hill">122 Roseneath Street, Clifton Hill</a></figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fieldwork_roseneath_ctatjana-plitt_57a9223-1_0.jpg" rel="gallery-all" title="Assemble's 122 Roseneath Street, Clifton Hill"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fieldwork_roseneath_ctatjana-plitt_57a9223-1_0.jpg?itok=Fav3tsKK" title="Assemble's 122 Roseneath Street, Clifton Hill" width="580"></a>

<figcaption>Assemble's <a href="/buildings/122-roseneath-st-122-roseneath-street-clifton-hill">122 Roseneath Street, Clifton Hill</a></figcaption></figure>Lead image: Assemble property buyers, Fenella McGowan and Lee Johnston. Photo: Tom Ross.
</body></html>

Olivia Round

Rent with an option to buy: The housing model helping first home buyers into the property market

<html><body>
GUEST OBSERVATION
The growth of the human population over the last 70 years has exploded from 2 billion to nearly 8 billion, with a compounding net growth of over 30,000 per day. We all breathe out carbon dioxide with every breath. That equates to about 140 billion CO₂ breaths every minute. Isn’t it logical that atmospheric carbon will continue to increase with the birth rate regardless of what we do about fossil fuel reduction?
This question touches on the core of our impact on planetary change. It highlights the exponential growth in the human population, but also homes in on the potential direct input of carbon dioxide from humans, through respiration.
As I explain in more detail below, our breathing does not contribute to the net accumulation of carbon dioxide in the atmosphere. But population growth, combined with an increase in consumption, is now seen as the <a href="https://www.stockholmresilience.org/research/research-news/2015-01-15-new-planetary-dashboard-shows-increasing-human-impact" target="_blank">main driver of change in the Earth system</a>.
Humans: a moment in geological time
Earth has been around for 4.56 billion years. The <a href="https://www.livescience.com/1804-greatest-mysteries-life-arise-earth" target="_blank">earliest evidence for life on Earth</a> comes from fossilised mats of cyanobacteria that are about 3.7 billion years old.
From around 700 million years ago, and certainly from 540 million years ago, life exploded into its present myriad forms, from molluscs to lung fish, reptiles, insects, plants, fishes and mammals – culminating in hominids and finally Homo sapiens. Genetic studies suggest <a href="https://www.nature.com/scitable/knowledge/library/overview-of-hominin-evolution-89010983/" target="_blank">hominids evolved from primates around 6 million years ago</a>, with the oldest hominid fossil dating from 4.4 million years ago in East Africa.
Our species appeared around 200,000 to 300,000 years ago, a blink of an eye in geological terms. From Africa, Homo sapiens migrated through Europe and Asia and spread across the world, at lightning speeds.
Part of the question is about a putative link between human biological functions and climate. Homo sapiens is <a href="https://journals.plos.org/plosbiology/article?id=10.1371/journal.pbio.1001127" target="_blank">one of more than 28 million living species today</a>, and some <a href="https://link.springer.com/chapter/10.1007/978-94-011-5874-9_7" target="_blank">35 billion species that have ever lived on Earth</a>. There has always been a link between life and Earth’s atmosphere, and perhaps the clearest indicator is oxygen.
Life, carbon and climate
Cyanobacteria were the first organisms to master photosynthesis and <a href="https://www.propertyobserver.com.au/https://www.pnas.org/content/96/20/10955" target="_blank">began adding oxygen to Earth’s early atmosphere</a>, producing levels of 2% by 1 billion years ago. Today oxygen levels are at 20%.
While people inhale oxygen and exhale carbon dioxide (billions of tonnes each year), this does <a href="https://slate.com/news-and-politics/2009/08/are-you-heating-the-planet-when-you-breathe" target="_blank">not represent new carbon in the atmosphere</a>, but rather recycled carbon that had been taken up by the animals and plants we eat. Furthermore, the hard parts of human skeletons are potential carbon stores, if buried sufficiently deep.
There is a constant cycling of carbon between geological, oceanographic and biological processes. Homo sapiens is part of this carbon cycle that plays out at the Earth’s surface. Like all living organisms, we derive the carbon we need from our immediate environment and give it up again through breathing, living and dying.
Carbon is only added to the atmosphere if it is taken out of long-term geological stores such as carbon-rich sediments, oil, natural gas and coal.
Planetary impact of humans
But the <a href="https://ourworldindata.org/world-population-growth" target="_blank">remarkable growth in human population</a> is surely the critical issue. Ten thousand years ago, there were 1 million people on Earth. By 1800, there were 1 billion, 3 billion by 1960 and almost 8 billion today.
When these figures are plotted on a graph, the growth line looks almost vertical from the 1800s onwards. <a href="https://www.pewresearch.org/fact-tank/2019/06/17/worlds-population-is-projected-to-nearly-stop-growing-by-the-end-of-the-century/" target="_blank">Population growth may eventually flatten out</a>, but only at around 10-11 billion.
Alongside the unprecedented population growth of humans has been the <a href="https://www.ipbes.net/news/million-threatened-species-thirteen-questions-answers" target="_blank">loss of many non-human species</a> (10,000 extinctions per million populations per year, or <a href="https://www.theguardian.com/environment/2018/oct/30/humanity-wiped-out-animals-since-1970-major-report-finds" target="_blank">60% of animal populations since 1970</a>), the rapid loss of wilderness habitat and consequent growth in farmed land, over-fishing (with up to <a href="http://blogs.edf.org/edfish/2012/07/11/fao-reports-87-of-the-worlds-fisheries-are-overexploited-or-fully-exploited/" target="_blank">87% of fisheries fully exploited</a>), and a staggering growth in global car numbers (from zero in the 1920s to 1 billion in 2013 and a projected <a href="https://www.weforum.org/agenda/2016/04/the-number-of-cars-worldwide-is-set-to-double-by-2040" target="_blank">2 billion by 2040</a>).
The <a href="https://www.usgs.gov/centers/nmic/copper-statistics-and-information" target="_blank">world production of copper</a> is an instructive proxy for human global impacts. As with many commodity curves, the trend from 1900, and particularly from the 1950s, is exponential. In 1900 around half-a-million tonnes of copper was produced worldwide. Today it is 18 million tonnes per year, with no sign of lowering consumption rates. Copper is the feedstock for much of modern-day and future green technologies.
Most parts of the world now experience material consumption as never before. But serious inequality remains, with over <a href="https://www.worldbank.org/en/news/press-release/2018/10/17/nearly-half-the-world-lives-on-less-than-550-a-day" target="_blank">3 billion living on less than US$5.50 a day</a>, and a <a href="https://www.oxfam.org/en/press-releases/just-8-men-own-same-wealth-half-world" target="_blank">tiny percentage who own so much</a>.
Some argue that it is not the numbers of people on Earth that count, but rather the way we consume and share. Whatever the politics and economics, the gross consumption level of billions of humans is, surely, the main cause of planetary change, especially since 1950. Present-day atmospheric levels of carbon dioxide are one of many symptoms of human impact.<img src="https://counter.theconversation.com/content/126671/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;">
Michael Petterson, Professor of Geology, Auckland University of Technology.
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/climate-explained-how-growth-in-population-and-consumption-drives-planetary-change-126671" target="_blank">original article</a>.
</body></html>

Climate explained: how growth in population and consumption drives planetary change

<html><body>
GUEST OBSERVATION 
Myer is the in the clear, sort of, after Australia’s first judicial ruling on a securities class action.
It centred around allegations that Myer misled the market about its projected earnings.
The court found Myer had been misleading, but that because shareholders didn’t believe it, it didn’t harm them.
The ruling established <a href="https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2019/2019fca1747" target="_blank">important principles</a> that will guide future judgments.
It isn’t enough for shareholders to show that there was a relevantly false or misleading statement or omission.
They need to also show it hurt them.
What Myer did
On September 11 2014, Myer’s chief executive Bernie Brookes indicated that he believed the net profit after tax for the 2015 financial year was likely to beat the previous year’s profit of A$98.5 million.
Five months later Brookes resigned, and on March 19 Myer cut the forecast to between $75 million and $80 million.
The class action alleged that Myer engaged in misleading conduct either because the initial September 11 2014 guidance was misleading or because - even if it was not misleading at the time - Myer allowed it to stand without correcting it.
It argued the statement inflated the share price, causing buyers to pay too much for the shares and to lose money when the true state of affairs became known.
Myer argued it had no obligation to update the market after Brooke’s statement.
It said the market had already realised the profit would be lower than what he said. And, in any event, what he said was not misleading.
What Myer was obliged to do
The <a href="http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s1041e" target="_blank">Corporations Act Section 1041E</a> states that people must not make a false or misleading statement that is likely to (among other things) influence trading activity or market prices when that person knows, or ought to know, that the statement is not correct, or does not care whether the statement is correct.
Similarly, <a href="http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s1041h" target="_blank">Section 1041H</a> asserts that a person must not engage in misleading or deceptive conduct, which could include failing to correct erroneous statements.
Indeed, <a href="http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s769c" target="_blank">Section 769C</a> says if a statement is made without reasonable grounds, it is deemed to be misleading.
<a href="http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s1041i" target="_blank">Corporations Act Section 1041I</a> says anyone who has suffered loss or damage by a contravention of the aforementioned rules can recover the amount of that loss or damage.
Also, <a href="http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s674" target="_blank">Corporations Act Section 674</a> says firms must comply with continuous disclosure requirements, which include disclosing material price-sensitive information. The provision gives legislative force to the Securities Exchange continuous disclosure guidelines.
There are two overarching elements involved in securities litigation, both of which were issues in the Myer case:
<ul>
<li>
the defendant makes a false or misleading statement
</li>
<li>
that false statement causes the plaintiff to suffer loss or damage.
</li>
</ul>
Each needs exploring.
False or misleading?
At first glance, a statement is false or misleading merely if it is incorrect, especially so if it is about something currently known. But things are less clear when the statement is about the future or a forecast.
Under <a href="http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s769c" target="_blank">Section 769C</a>, forecasts are held to be misleading if they are not based on reasonable grounds. Omitting information, or failing to correct information, can also be misleading if it creates or maintains a false impression.
Loss or damage?
Historically, in fraud type cases, the plaintiffs need to show that they “relied” on the false statement in making a decision. That is, they need to show they were directly misled.
Myer argued that the shareholders needed to show they actively “relied” on its statements when deciding to purchase shares.
The shareholders argued that the legislation does not require active reliance. They argued that it was enough to show that the false statement inflated the share price and that they bought at a price that was too high.
It was a win and a loss…
The court sided with the plaintiffs, finding that it was enough for them to show that the false statement (or misleading omission) inflated the share price, that they bought at a price that was too high, and they suffered a loss when the truth was revealed.
And it found Myer had been misleading by failing to correct a forecast it knew was erroneous. It had also violated the Exchange’s continuous disclosure standards.
But it found that Myer’s September 11 2014 forecast was not misleading at the time. It was in line with analysts’ forecasts, and in September 2014 Myer had reasonable grounds to make it.
Damages would normally reflect the difference between what the shareholders paid and what they would have paid if the true state of affairs had been known.
But given the market, notwithstanding the statement form the Myer chief executive, knew about Myer’s declining profitability and given that that information was reflected in the price, shareholders weren’t damaged.
…with implications for the future
The judgment will make future shareholder class actions easier. They will know what they have to prove.
An unanswered question is whether Myer will simply get away with having misled the market, given that it prevailed in the case.
It may not. Regulators - such as the Australian Securities and Investments Commission - still have penalty mechanisms they can use to punish officers and directors for misleading conduct, even if shareholders don’t prevail in court.<img src="https://counter.theconversation.com/content/125925/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/why-australias-first-securities-class-action-judgment-sort-of-cleared-myer-125925" target="_blank">original article</a>.
</body></html>

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News