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

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Construction has commenced at QM Properties' luxury riverside project, Anthology New Farm, following $19 million in sales.
It includes the sale of all three penthouses, with the highest priced selling for $1.88 million.  
QM Properties has appointed McNab Constructions to build the Rothelowman designed building.
Located on tree-lined Moray Street, the building is expected to be complete by late 2020.
QM Properties Development Manager Glenn Rix said Anthology, which is six residential levels plus roof top facilities, comprises just 26 residences.
It is the first medium rise project to commence construction in New Farm this year.  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/Anthology_Interior_Penthouse_Living_R005.jpg" alt="">
"Anthology has appealed to owner occupiers looking to live in a boutique building in one of the most sought-after suburbs in Brisbane," Rix said.
"To achieve over 60% pre-sales before commencing construction is an excellent result."
Rix said QM has partnered with McNab Constructions because the company has an enviable reputation for delivery of high quality product across multiple market segments. 
A mix of three bedroom apartments remain for sale from $1,125,000.
<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/2019/10/30/Anthology_pool.jpg" alt=""> 
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Anthology New Farm commences construction with $19 million in sales

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EXPERT OBSERVER
As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 0.75% at its November Board meeting.
While this result was what was widely expected today, markets had given a 50% probability of a rate cut following the move in October. Westpac was never convinced of that prospect and had pointed to the fact that central banks usually make very strong cases for a decision and markets can over interpret that sentiment. We were also concerned that very low interest rates were likely to adversely affect sentiment, as we saw in the response to the June and July rate cuts where the Westpac-MI Consumer Sentiment Index fell by 4.1%. Readers will be aware that following the October rate cut, the index fell by 5.5%.
For us, the most important aspect of the Governor’s November Decision Statement was the signalling around prospects for a cut in December. It has always been our view that policy would be unchanged in November and December, but when market pricing reached 50% for November, December pricing was around 90%.
There are two key signals to suggest that the Board will take a break in December as well. Firstly, the term “the Board will continue to monitor developments” was included in the final paragraph, with the term “monitor” implying no urgency to move. Secondly, the final paragraph also notes “the easing of monetary policy since June”. It is our experience that when central banks refer back to previous decisions, it is also unlikely that they plan to move in the near future.
However, we are mindful that the Board does not want the market to believe that it has reached the end of the easing cycle. That would put unwelcome upward pressure on the AUD. Consequently, there remains a very clear easing bias: “the Board… is prepared to ease monetary policy further if needed”.
As indicated in our preview to today’s RBA decision, we pointed out that it was unlikely that the RBA would change its forecast for 2020. The Statement refers to growth in 2019 at 2¼ per cent and gradually picking up to 3 per cent in 2021. That indicates that the current growth forecast of 2.8% in 2020, which was adopted in August, is likely to be retained in Friday’s Statement on Monetary Policy.
The growth forecast for 2019 has been lowered from 2½ per cent to 2¼ per cent. When the 2½ per cent forecast was made, the RBA was unaware of the “softish” 0.5% GDP growth for the June quarter. With the first half of 2019 totalling 1 per cent, the 2¼ per cent forecast implies two quarters of around 0.6% growth in the second half of 2019. Westpac expects 0.5% in the September quarter.
Other key themes remain unchanged from the October statement: global economy risks are tilted to the downside; the main domestic uncertainty continues to be the outlook for consumption; the unemployment rate is expected to remain around 5 ¼ per cent for some time, before gradually declining to a little below 5% in 2021; wages growth is expected to remain around the current rate for some time; and there are further signs of a turnaround in established housing markets, especially in Sydney and Melbourne.
Some additional insights are: other sources of uncertainty include the drought and the housing construction cycle; and the recent inflation data were broadly as expected.
Conclusion
There is nothing in this Statement that prompts us to revise our current forecast that rates will be on hold in December with the next and final rate cut occurring in February next year.
Following that move, the state of the economy will be such that further stimulus will still be required, without which an unwelcome lift in the Australian Dollar would pose a significant headwind for the RBA’s current forecast of return to trend growth in 2020. Under those circumstances, it seems reasonable that the RBA might move towards some unconventional measures to boost demand and retain downward pressure on the Australian Dollar
BILL EVANS is the Chief Economist at Westpac
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RBA stays on hold, signals on hold in December as well: Bill Evans

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EXPERT OBSERVER
As widely expected the RBA left the cash rate on hold at 0.75% at its November board meeting.
While we thought a rate cut was justified, recent commentary from the RBA had suggested little urgency on its part so today’s on hold decision was not surprising. 
The post meeting Statement was a little bit more upbeat referring to: a scaling back in market expectations for interest rate cuts globally; a “gentle turning” point in the local economy; expectations for growth to pick up to 3% by 2021, recent inflation data being broadly as expected; and further signs of a turnaround in the established housing market.
However, while the RBA still sees growth picking up to around 3% in 2021, it has yet again downgraded its growth expectation for this year to “around 2.25%” from 2.5% in August. And don’t forget that a year ago it expected growth this year of 3.25%.
Apart from maybe feeling a bit more upbeat, the RBA probably also decided to pause in easing to give tax and rate cuts to date more time to work. But it’s interesting that it made no reference to September’s very weak retail sales report which along with continuing weak car sales suggests very little boost to consumer spending from the tax and rate cuts so far.
The final paragraph of the RBA’s post meeting Statement repeats that its “reasonable to expect that an extended period of low interest rates will be required” and that “The Board will continue to monitor developments, including in the labour market, and is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time.” Quite clearly the RBA retain an easing bias.
Based on the US experience which has required unemployment and underemployment to fall to 7% just to get wages growth of 3% year on year, full employment in Australia probably means unemployment around 3.5-4% and underemployment around the same level so we have a long way to go!
As a result, we remain of the view that further RBA monetary easing will be required and is likely. Growth is still likely to remain subdued and below trend for longer than the RBA is allowing. This will keep unemployment higher for longer and wages growth and inflation below target for longer. Consequently, more easing will be required to achieve full employment and clear progress to the inflation target. What’s more inflation has been running below target for more than four years now and the longer this is allowed to persist the more the inflation target will lose credibility and won’t be the “strong nominal anchor that people can rely on when making their decisions” that Governor Lowe has stated the Board is seeking to provide.
Ideally more fiscal stimulus is required (such as a bring forward of the stage 2 tax cuts, a boost to Newstart, inducements to large companies to investment more and increased infrastructure spending where possible) as this would give a bigger bang for the buck and could be more fairly targeted. But in the absence of more fiscal stimulus, pressure remains on the RBA for further easing. We continue to see the cash rate being cut to a low of 0.25% in December and February but this could also come with quantitative easing measures designed to lower bank funding costs and increase the banks’ pass through of rate cuts to borrowers.
The RBA’s forward guidance is also likely to be toughened in the next few months to say something along the lines that the RBA “doesn’t expect to consider raising interest rates until inflation is near the mid-point of the 2-3% inflation target.”
Meanwhile, Treasurer Josh Frydenberg’s decision to make no changes to the RBA’s inflation target and the broader Statement on the Conduct of Monetary Policy of which it is a part makes sense. 
The interpretation of meeting the inflation objective as being “on average” and “over time” has served Australia well and has contributed to the relative stability of the Australian economy. To lower the inflation target to 1-3% as some were arguing should occur would have blown its credibility, pushed the $A up sharply and boosted the risk of deflation and falling wages which is the last thing we want given high household debt levels. Making the target stricter – by requiring say a BoE style letter each time the target is breached – could force the RBA to become inflation nutters. So thankfully it remains unchanged.
The only thing now is to get inflation back to target “on average” and “over time.”
SHANE OLIVER is the Chief Economist for AMP Capital 
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More RBA easing may be necessary in the future: Shane Oliver

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EXPERT OBSERVER
Some positive signs for the economy and a push by the federal government for banks to relax lending standards for small business will allow the Reserve Bank of Australia (RBA) to take a break from cutting official interest rates.
With the cash rate reduced to a record low of 0.75 per cent, the RBA may have done enough for the time being to help boost consumer confidence despite disappointing September retail sales figures.
Having confident consumers is a major contributor to an economic turnaround and the domestic economy is still showing signs of improvement. 
It is good to see the Government talking to the banks about the way they have been applying the responsible lending guidelines to small and medium-sized enterprises. By supporting more lending and our SMEs we should see positive signs of further economic improvement.
In this environment there is no real need for the RBA to do much more until they get a better view of the economy into the first quarter of next year.
It will be good to see consumers break the shackles and start spending again in the lead up to Christmas. Hopefully the central bank’s rate reductions have helped give consumer confidence a boost.
I urge mortgage holders to regularly review their home loans to ensure they were getting the best possible deal.
Mortgage holders should never be complacent about their home loan.
While interest rates are at historic lows, lenders are willing to battle for your business. Contact a mortgage broker to make sure you are getting the best terms possible and, most importantly, save money.
John Kolenda is the managing director at <a href="https://www.finsure.com.au/" target="_blank">Finsure</a>.
 
 
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jrobinson-rf4aSBido9

RBA can take a summer holiday: Finsure's John Kolenda

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EXPERT OBSERVER
The Reserve Bank has left the cash rate at a record low of 0.75 per cent.
What has changed since the last meeting?
- The Consumer Price Index rose by 0.5 per cent in the September quarter; annual rate 1.7 per cent. - The Australian jobless rate fell from 5.3 per cent to 5.2 per cent in September. - The CoreLogic national home price index rose by 1.2 per cent in October. - Retail trade rose 0.2 per cent in September. - Real retail trade fell by 0.1 per cent in the September quarter. - The US Federal Reserve cut the federal funds from 2 per cent to 1.75 per cent. - Job ads fell by 1.0 per cent in October. - Tax refunds totalled $20 billion in the three months to September. - The Australian dollar has generally held around US67o 69 cents. - The US and China are reportedly progressing on a ‘Phase 1’ trade deal. - UK to face a December election; Brexit date now January 31. - US sharemarkets hit record highs.
The Assessment
The Reserve Bank has refreshed its views, commentary and forecasts. Overall, the tone of cautious optimism is maintained as is the easing bias. But the Reserve Bank doesn’t seem to be setting the stage to act on the easing bias by cutting rates again in December. The next opportunity to cut rates is February 2020 after the Reserve Bank assesses economic growth, inflation, unemployment and inflation data.
The Reserve Bank has given its customary ‘sneak peek’ at its latest forecasts. The jobless rate is tipped to remain near 5.25 per cent for some time. Similarly inflation is not expected to budge from near 2 per cent, actually through to 2021. Economic growth is tipped to lift to around 2.25 per cent this financial year and then to 3 per cent in 2021.
Inflation is edging slowly towards the Reserve Bank’s 2o 3 per cent target zone. The Reserve Bank Board believes this progress will continue. The Federal Treasurer has expressed his support for maintaining the target band and made no change to the Statement on the conduct of Monetary Policy.
Perspectives on interest rates
The Reserve Bank has left the cash rate at 0.75 per cent after cutting rates in June, July and October, each by 25 basis points. There have now been 15 rate cuts since November 2011 with the cash rate cut from 4.75 per cent.
Previously rates rose seven times from October 2009 to November 2010 from 3.00 per cent to 4.75 per cent.
What are the implications of today’s decision?
The Reserve Bank Governor continues to express optimism, saying that the economy has reached a ‘gentle turning point’. Home prices have certainly lifted since the election, especially in Sydney and Melbourne. Encouragingly employment continues to grow, lifting purchasing power in the economy.
The labour market and consumer spending will remain in the spotlight. Overseas, the US-China trade talks and Brexit will dominate attention. The Reserve Bank is expected to leave the cash rate unchanged until at least early 2020. 
CRAIG JAMES is the Chief Economist at CommSec
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RBA retains tone of cautious optimism for Australian Economy: CommSec's Craig James

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Three of the eight capital cities are now at the top of the retail market, with Melbourne and Brisbane joining Canberra, according to valuation firm Herron Todd White's (HTW) latest retail property clock.
The Central Coast, Gold Coast, Ipswich and Coffs Harbour also moved to the peak of market position.
Sydney remained at the approaching peak of market position this month, while Ballarat, Bendigo, Burnie-Devonport and Launceston are holding as rising markets.
Mackay joined Adelaide, among others, beginning their retail market recovery.
<a href="https://www.propertyobserver.com.au/images/2019/11/5/HTW%20Retail%20Clock%20NOV%202019.JPG" target="_blank">Click</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/11/5/HTW%20Retail%20Clock%20NOV%202019.JPG" alt="">
Geelong and Illawarra remain at the start of their decline.
There's not great news for Ballina, Newcastle, Lismore and Toowoomba, which are now declining markets, joining Echuca and Gippsland.
Hobart's retail market is still nearing the bottom of the market, as is Gladstone, South West WA and now Rockhampton.
Alice Springs joined Perth, Darwin, Cairns, Townsville, Wide Bay, and Emerald at the bottom of the market.
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Brisbane and Melbourne retail markets are peaking: HTW Retail Clock

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At its meeting today, the Board decided to keep the cash rate on hold at 0.75 per cent.
<div>
<div class="rss-mr-content">
While the outlook for the global economy remains reasonable, the risks are tilted to the downside. The US–China trade and technology disputes continue to affect international trade flows and investment as businesses scale back spending plans because of the uncertainty. At the same time, in most advanced economies, unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken steps to support the economy while continuing to address risks in the financial system.
Interest rates are very low around the world and a number of central banks have eased monetary policy in response to the persistent downside risks and subdued inflation. Expectations of further monetary easing have generally been scaled back over the past month and financial market sentiment has improved a little. Even so, long-term government bond yields are around record lows in many countries, including Australia. Borrowing rates for both businesses and households are also at historically low levels. The Australian dollar is at the lower end of its range over recent times.
The outlook for the Australian economy is little changed from three months ago. After a soft patch in the second half of last year, a gentle turning point appears to have been reached. The central scenario is for the Australian economy to grow by around 2¼ per cent this year and then for growth gradually to pick up to around 3 per cent in 2021. The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices in some markets and a brighter outlook for the resources sector should all support growth. The main domestic uncertainty continues to be the outlook for consumption, with the sustained period of only modest increases in household disposable income continuing to weigh on consumer spending. Other sources of uncertainty include the effects of the drought and the evolution of the housing construction cycle.
Employment has continued to grow strongly and has been matched by strong growth in labour supply, with labour force participation at a record high. The unemployment rate has remained steady at around 5¼ per cent over recent months. It is expected to remain around this level for some time, before gradually declining to a little below 5 per cent in 2021. Wages growth remains subdued and is expected to remain at around its current rate for some time yet. A further gradual lift in wages growth would be a welcome development and is needed for inflation to be sustainably within the 2–3 per cent target range. Taken together, recent outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.
The recent inflation data were broadly as expected, with headline inflation at 1.7 per cent over the year to the September quarter. The central scenario remains for inflation to pick up, but to do so only gradually. In both headline and underlying terms, inflation is expected to be close to 2 per cent in 2020 and 2021.
There are further signs of a turnaround in established housing markets, especially in Sydney and Melbourne. In contrast, new dwelling activity is still declining and growth in housing credit remains low. Demand for credit by investors is subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.
The easing of monetary policy since June is supporting employment and income growth in Australia and a return of inflation to the medium-term target range. Given global developments and the evidence of the spare capacity in the Australian economy, it is reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The Board will continue to monitor developments, including in the labour market, and is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time.
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<div class="box-enquiries"> </div>
 
 
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Established housing turnaround: RBA Governor Philip Lowe's November 2019 meeting statement

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The Reserve Bank have decided to leave the cash rate on hold at a historic low 0.75 per cent.
It <a href="/expert-insights/finance/established-housing-turnaround-rba-governor-philip-lowes-november-2019-meeting-statement">noted a further turnaround in established housing</a>, particularly in Sydney and Melbourne.
The decision comes after a month of some positive news for the Reserve Bank, namely in unemployment which <a href="/news/rba-breathe-sigh-of-relief-as-seasonally-adjusted-unemployment-nudges-lower">dropped back to 5.2 per cent</a>.
Last weeks slight inflation uptick was <a href="/expert-insights/investing/inflation-rate-creeps-towards-rba-target-zone-commsec">further good news for the RBA</a>.
CoreLogic's head of research Tim Lawless said the decision to hold rates was widely anticipated given the RBA is running out of conventional monetary policy ammunition.
"The decision to keep rates on hold was supported by the latest labour market and inflation readings, which saw the national unemployment rate nudge lower, while annual headline inflation edged slightly higher," Lawless said.
"Additionally, a rebound in housing values and a rise in buyer activity will hopefully begin to flow through to a gradual improvement in household wealth and spending. 
Lawless suggested the RBA will be carefully monitoring other indicators which have continued to lose momentum such as consumer confidence, residential construction activity and retail spending. 
"One of the negative side-effects of such historically low interest rates is that Australian households and businesses are reading through the low rate setting and becoming less confident about their household finances and the outlook for the economy, which is offsetting some of the stimulatory benefits of historically low interest rates. 
"Although the cash rate has remained on hold, lenders are becoming increasingly competitive, particularly for high quality borrowers – ie those with low debt relative to their incomes and a responsible track record of savings together with expenses that are in line with their incomes. 
"No doubt the lowest mortgage rates since at least the 1950’s and improved access to credit following APRA’s decision to adjust the interest rate serviceability floor are contributing to a rebound in housing market conditions. 
"While the improved housing market conditions are a positive for broader economic conditions, an increase in speculative activity from property investors or a slip in the quality of lending standards could be the trigger for a new round of macro-prudential policies aimed at maintaining prudent lending standards and keeping a lid on further accrual of housing related debt.
Finder.com.au's RBA Cash Rate Survey saw all of its 38 experts predict a rate hold at today's meeting, however two thirds of the experts surveyed believed the cash rate will drop to 0.5 per cent in February 2020.
Only 21 per cent think there will be a cut in December.
Sally Tindall, research director at RateCity, says that despite there being no movement this month, another rate cut is still very much on the cards for the future: 
"When you look at the big 4 banks, on average their 3-year fixed rates are a quarter of a percent lower than their lowest variable rates, which is a strong indication the cash rate will continue to fall," Tindall said.
"In fact, the market is expecting rates will remain low for very long time. Five year fixed rates have hit an all time low of 2.74% while variable rates are as low as 2.69%.
"But these rates are reserved for new customers so if you want to take advantage of this, you might have to turn yourself from an existing customer into a new one."
Shane Oliver, chief economist at AMP Capital, says the are still expecting an easing in December and February.
"With growth likely to remain subdued and the econ a long way from full employment further easing is needed," Oliver tweeted.
"So in the absence of significant fiscal stimulus soon we still expect another easing in Dec &amp; Feb."
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RBA holds interest rates at November Cup Day meeting

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EXPERT OBSERVER
The services sector dominates the Australian economy, representing around 70 per cent of gross domestic product (GDP) and employing four out of five Aussies. According to the AiGroup, activity in the services sector expanded at its fastest rate in 11 months in October.
The pace of expansion has picked up for three successive months with sales, new orders, employment and deliveries all up during October in positive signs that some ‘green shoots’ may finally be emerging for the Aussie economy.
Last week, the Aussie dollar rose in value by 1.2 per cent against the greenback – the best weekly gain since early September - hitting intra-day highs of US69.30 cents on October 31 due to US-China trade deal optimism. The Aussie dollar had been stuck in a tight US67-68 cent range since August.
While Reserve Bank policymakers would prefer a lower Aussie dollar to support economic growth, consumers on the other hand generally benefit from a cheapening in imported goods purchase costs and lower overseas travel costs, perhaps brightening shopper sentiment.
Lower unleaded petrol prices (down by 4.6-7.9 cents a litre in Sydney, Melbourne and Brisbane) and confirmation of a strengthening in October home prices (up by the most in 4½ years) could also be considered reasons for the biggest lift in consumer confidence in five weeks.
What do the figures show?
The Australian Industry Group (AiG) Performance of Services Index (PSI) rose from 51.5 points to an 11-month high of 54.2 points in October. But the ‘final’ CBA/IHS Markit Services Purchasing Managers’ Index (PMI) fell from 52.4 points in September to 50.1 points in October. A reading above 50 indicates an expansion of services sector activity.
According to the AiGroup: “Following two months of mildly positive results, October saw a substantial pickup in business conditions, and particularly sales, for services businesses. Some respondents reported strong demand from new customers and good domestic and international demand. Increased discretionary spending was evident across the consumer sectors.”
The CBA/IHS Markit October PMI data “showed little change in Australian services business activity at the start of the fourth quarter. This was accompanied by marginal sales growth, which was limited by a first decline in export demand for over two years. Business confidence subsequently dropped to the lowest since March whilst employment barely rose. Input price inflation remained solid, contributing to an accelerated rise in output charges.”
Consumer Sentiment
The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.8 per cent - the biggest lift in five weeks - to 113.5 points. Sentiment is still below the average of 114.4 points held since 2014, but above the longer term average of 113.1 points held since 1990.
All five of the major components of the index rose last week:
The estimate of family finances compared with a year ago was up from +12.5 points to +14.3 points;
The estimate of family finances over the next year was up from +24.5 points to +27.7 points;
Economic conditions over the next 12 months was up from -7.9 points to -5.5 points;
Economic conditions over the next 5 years was up from -1.0 point to +5.7 points;
The measure of whether it was a good time to buy a major household item was up from +23.9 points to +25.5 points.
The measure of inflation expectations was unchanged at 3.9 per cent.
What are the implications for interest rates and investors?
It appears that the all-important Aussie services sector growth engine could be reaching a ‘gentle turning point’ – as hoped for by the Reserve Bank. The AiGroup reported that “there are tentative signs that lower interest rates and recently paid tax rebates are (very mildly) boosting discretionary local retail spending.” The commentary will be ‘music to the ears’ of policymakers after the release of yesterday’s disappointing September retail trade report.
The Reserve Bank is expected to sit back for a few months before deciding the next move in interest rates with no policy change expected later today by CommBank Group economists. We’ve pencilled in a cut in February 2020.
Policymakers will be watching the recent upward movement in the Aussie dollar very closely. The currency is closely correlated to China’s offshore currency – the Yuan – which has been heading higher against the greenback on increasing trade optimism. The central bank will be concerned with the Aussie’s recent momentum - due to US rate cuts and improving risk sentiment - with any push-through the US70 cent ‘ceiling’ potentially constraining already weak economic activity.
CRAIG JAMES is the Chief Economist at CommSec
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Services sector activity hits 11 month high, consumer confidence up: CommSec's Craig James

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The housing market in Hobart is set to continue its long growth, according to the valuation firm Herron Todd White.
The last 16 months Herron Todd White suggested Hobart was approaching the peak of the market, but now they have deemed houses in the Tasmanian capital are still rising, suggesting they have longer left in the growth cycle than the valuation firm had initially thought.
To enlarge the national property clock for houses, <a href="https://www.propertyobserver.com.au/images/2019/11/5/HTW%20NOVEMBER%20CLOCK%20HOUSES.jpg" target="_blank">click here</a>.
<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/2019/11/5/HTW%20NOVEMBER%20CLOCK%20HOUSES.jpg" alt="">
Hotspotting's Terry Ryder says Tasmania was <a href="/expert-insights/investing/tasmania-real-estate-past-its-peak-but-still-australias-top-performer-hotspottings-terry-ryder">the best performing capital in the country</a> over the last 12 months.
There are only 12 locations across the whole state with median house prices less than they were a year ago.
The unit market in Hobart has been tracking the same course as houses over the last year and a half, it too now becoming a rising market as opposed to approaching its peak. 
To enlarge the national property clock for units, <a href="https://www.propertyobserver.com.au/images/2019/11/5/HTW%20NATIONAL%20CLOCK%20UNITS%20NOVEMBER.jpg" target="_blank">click here</a>.
<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/2019/11/5/HTW%20NATIONAL%20CLOCK%20UNITS%20NOVEMBER.jpg" alt="">
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"Tasmania continues to lead the country in many property indicators," Herron Todd White noted.
They suggested that in comparison to other parts of the country, the prestige sector remains 'affordable.'
There's a family home being built at Tinderbox, just south of Blackmans Bay, with an estimated $17 million build on the $3 million riverfront land.
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