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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Centuria Property Services, the asset management arm of Centuria Capital Group, has signed an implementation agreement with parking technology startup BaseUp.
Vacant parking bays in and around commercial properties owned by Centuria’s listed and unlisted property funds will be made available via the BaseUp app, where tenants can participate and register for short-term parking solutions.
BaseUp is a provider of smart parking technology to large tenants and landlords in the commercial property market.
BaseUp provides solutions that solve one of commercial real estate’s biggest problems – underutilised parking and a lack of flexibility. 
Matthew McQueen, Portfolio Manager at Centuria, commented: "After a highly successful pilot period at two of our assets, we have now signed up for all our property residents. 
"Those at the forefront of the commercial property market – office properties in particular – are increasingly focusing on the well-being of a building’s users, a significant aspect of which is convenience of commuting and end-of-trip."
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j.ballantyne1990-6AQqhLzZaK

Centuria signs agreement with parking technology provider BaseUp

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EXPERT OBSERVER
The RBA remained on hold at a record low cash rate of 1% at its September board meeting as widely expected. This followed 0.25% rate cuts in June and July.
The Bank’s post meeting statement was little changed which was a bit surprising given the further escalation of the US-China trade war over the last month and the run of soft economic data in Australia. Nevertheless the statement remained dovish:
<ul type="disc">
<li>referring to the downside risks to global growth from the trade war and associated uncertainty;</li>
<li>although it still sees growth strengthening to around trend, this is only expected to occur “gradually”;</li>
<li>noting that the outlook for consumer spending remains the main domestic uncertainty;</li>
<li>noting that wages growth remains subdued with little upwards pressure; and</li>
<li>indicating that inflation will likely be subdued for some time yet.</li>
</ul>
The final paragraph repeated Governor Lowe’s recently used forward guidance to expect an “extended period of low interest rates” and noted that the Board stands ready to ease monetary policy again if needed, indicating that the Bank retains an easing bias.
The RBA is still waiting to see what sort of boost to growth the rate cuts of June and July and the Federal Government’s tax cuts for low and middle income earners provide.  However, while these will help avoid recession we doubt that they will be enough to generate decent growth and the evidence from July is not that encouraging!
While house prices in Sydney and Melbourne may be bouncing higher, growth looks to have been far weaker than the RBA expected in the June quarter with only trade and public spending keeping the economy from going backwards, the growth outlook remains weak with the housing construction downturn gathering pace and threat from Trump’s trade war increasing, and there is no sign of any pick up in wages growth and inflation with unemployment looking more likely to drift up than down.
So while the RBA is content to wait for now, we continue to see two more rate cuts this year taking the cash rate down to 0.5%, with the next cut likely coming next month.
While the rebound in the Sydney and Melbourne property markets could present a problem for the RBA in terms of cutting rates further, the RBA will likely do what it believes is right for the “average” of Australia rather two cities’ property markets. But it may have to resort to tighter regulatory controls again if it needs to cool the Sydney and Melbourne property markets once more for financial stability reasons.
SHANE OLIVER is the Head of Investment Strategy and Chief Economist for AMP Capital
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soliver-smf6LQXgW9

RBA still set to cut to 0.5% by years end: Shane Oliver

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<div>
<div class="rss-mr-content">
At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent.
The outlook for the global economy remains reasonable, although the risks are tilted to the downside. The trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans due to the increased 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 further steps to support the economy, while continuing to address risks in the financial system.
Global financial conditions remain accommodative. The persistent downside risks to the global economy combined with subdued inflation have led a number of central banks to reduce interest rates this year and further monetary easing is widely expected. Long-term government bond yields have declined and are at 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 its lowest level of recent times.
Economic growth in Australia over the first half of this year has been lower than earlier expected, with household consumption weighed down by a protracted period of low income growth and declining housing prices and turnover. Looking forward, growth in Australia is expected to strengthen gradually to be around trend over the next couple of years. The outlook is being supported by the low level of interest rates, recent tax cuts, ongoing spending on infrastructure, signs of stabilisation in some established housing markets and a brighter outlook for the resources sector. The main domestic uncertainty continues to be the outlook for consumption, although a pick-up in growth in household disposable income and a stabilisation of the housing market are expected to support spending.
Employment has grown strongly over recent years and labour force participation is at a record high. The unemployment rate has, however, remained steady at 5.2 per cent over recent months. Wages growth remains subdued and there is little upward pressure at present, with strong labour demand being met by more supply. Caps on wages growth are also affecting public-sector pay outcomes across the country. A further gradual lift in wages growth would be a welcome development. Taken together, recent labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.
Inflation pressures remain subdued and this is likely to be the case for some time yet. In both headline and underlying terms, inflation is expected to be a little under 2 per cent over 2020 and a little above 2 per cent over 2021.
There are further signs of a turnaround in established housing markets, especially in Sydney and Melbourne. In contrast, new dwelling activity has weakened. Growth in housing credit remains low. Demand for credit by investors continues to be 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.
It is reasonable to expect that an extended period of low interest rates will be required in Australia to make progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments, including in the labour market, and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time.
</div>
</div>
<div class="box-enquiries"> </div>
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jrobinson-rf4aSBido9

Further signs of property turnaround especially in Sydney and Melbourne: RBA September meeting

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The RBA have decided to hold the official cash rate at a record low one per cent at its September meeting today.
CoreLogic research director Tim Lawless said the <a href="/expert-insights/buying/sydney-and-melbourne-house-and-apartment-prices-power-ahead-in-august-corelogic">resurgence in Sydney and Melbourne housing values</a> was likely a key topic of conversation amongst the RBA Board at today’s meeting. 
"In line with rate cuts in June and July, housing values in Australia’s two largest cities have recorded a lift, with dwelling values rising 1.9% and 1.8% in Sydney and Melbourne over the past three months.  
"August data showed CoreLogic’s national index recorded its first month on month rise since October 2017 and five of the eight capital cities saw dwelling values increase.  
"Clearly housing market conditions are responding to lower interest rates as well as the recent loosening of loan serviceability rules from APRA and the positive influence of the stable federal election outcome.  
Lawless noted that the recovery trend is still very early and there is the potential for the pace of growth to slow as advertised stock levels rise in line with spring.
"If the recent acceleration in housing value growth is sustained over coming months, we could potentially see additional credit policy levers pulled, aimed at keeping a lid on household debt. 
"Limiting lending to borrowers on high debt to income ratios could be one option, or introducing hard limits on high LVR lending could be another mechanism that would reduce the risk of a further build up in household debt whilst at the same time allow borrowers to access housing credit and take advantage such low interest rates."
The Finder RBA Cash Rate Survey saw 95 per cent of their 41 experts and economists surveyed predict a cash rate hold in September.
Craig Emerson, of Craig Emerson Economics, said the RBA will save its last few bullets for now, but he predicts and October cut.
"The RBA will be reluctant to use up its little remaining ammunition," Emerson said.
Westpac's Bill Evans also recently suggested we <a href="/expert-insights/finance/rba-to-hold-next-week-but-expect-october-rate-cut-bill-evans">should be looking to October</a> for the cut.
Griffith University economics professor Tony Makin is one of 61 per cent of experts in the survey who believe the RBA will wait until November.
"Previous RBA research suggested it takes up to 18 months for the effects of official interest rate changes to feed through to the wider economy," Makin said.
“The RBA should therefore be waiting a little longer before cutting further, especially in light of the weaker dollar of recent weeks."
 
 
 
 
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RBA holds rates at September meeting

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A Fitzroy North landholding on Queens Parade with triple street frontages is being offered to market.
The 3,200 sqm development site is situated on a prime corner landholding at 81-89 Queens Parade, with triple street frontages to Alexandra Parade, Queens Parade, and George Street.
Savills Australia’s Clinton Baxter, Jesse Radisich and Benson Zhou have been appointed to manage the expressions of interest campaign with expectations of above $18 million.
“The upside potential of this site is profound, and we have already commenced fielding interest from major local and offshore developers keen to know more about this project,” said Mr Baxter.
“There is approved planning in place for an 8-level Cox Architecture mixed-use commercial project.”
“81-89 Queens Parade is arriving at a time and place that meets the strongest commercial office markets in decades,” added Mr Baxter.
Mr Zhou said that “whilst there has been talk of reducing Chinese capital in our market, Savills has sold more than half of our last 20 deals to buyers of Chinese background. Really there has been a flight to quality projects and investments, the money definitely is still there for the best projects like this one.”
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Savills marketing mixed-used Fitzroy North development site

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Houses and units are both in decline across the Byron Bay and Ballina regions, according to valuation firm Herron Todd White.
Their September national property clock for houses and units have suggested the northern NSW areas are starting to decline.
Herron Todd White suggest the downturn in Sydney and Melbourne has finally hit the Byron market.
"As these interstate markets have seen recent downturns, it is only in recent months (since the commencement of 2019) that the flow on effect into our market has seen a slight change in this price bracket [$850,000 to $2 million]," the report noted. 
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/9/3/National%20Property%20Clock%20Houses%20Sept.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/2019/9/3/National%20Property%20Clock%20Houses%20Sept.jpg" alt="">
"Time spent on market would be the first observation, while no significant change in price levels has occurred as stock levels have remained relatively low."
The Byron Bay decline cycle might not run for long, given the bounce back in markets in Sydney and Melbourne.
Herron Todd White, who had Sydney <a href="/expert-insights/buying/sydney-units-start-to-approach-the-bottom-htw">approaching the bottom of the market last month</a>, suggest the market, for both houses and units, has bottomed.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/9/3/National%20Property%20Clock%20Units%20Sept.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/2019/9/3/National%20Property%20Clock%20Units%20Sept.jpg" alt="">
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Byron Bay property markets starting to decline: HTW National Property Clock

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GUEST OBSERVATION 
“What we need to do is rebuild confidence in Australia’s building and construction sector,” said federal minister Karen Andrews after the July 2019 meeting of the Building Ministers’ Forum.
This has been a recurring theme since the federal, state and territory ministers commissioned Peter Shergold and Bronwyn Weir in mid-2017 to assess the effectiveness of building and construction industry regulation across Australia. They presented their <a href="https://www.industry.gov.au/sites/default/files/July%202018/document/pdf/building_ministers_forum_expert_assessment_-_building_confidence.pdf" target="_blank">Building Confidence report</a> to the ministers in February 2018.
In the 18 months since then, the combined might of nine governments has made scant progress towards implementing the report’s 24 simple recommendations. Confidence in building regulation and quality has clearly continued to deteriorate among the public and construction industry.
In last week’s Four Corners program, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/4corners/cracking-up/11431474" target="_blank">Cracking Up</a>, Weir was asked whether she would buy an apartment. She responded: “I wouldn’t buy a newly built apartment, no […] I’d buy an older one.” She went on to say:
"We have hundreds of thousands of apartments that have been built across the country over the last two, three decades. Probably the prevalence of noncompliance has been particularly bad, I would say in the last say 15 to 20 years […] And that means there’s a lot of existing building stock that has defects in it […] There’ll be legacy issues for some time and I suspect there’ll be legacy issues that we’re not even fully aware of yet."
These comments may not have delighted those developers trying to sell new apartments, or owners selling existing apartments, but they are fair and correct. Confidence will not be restored until all the governments act together to improve regulatory oversight and deal with existing defective buildings.
Residents of the <a href="https://theconversation.com/lacrosse-fire-ruling-sends-shudders-through-building-industry-consultants-and-governments-112777" target="_blank">Lacrosse</a>, <a href="https://www.theage.com.au/national/victoria/same-as-grenfell-tower-cladding-fears-as-fire-rips-through-melbourne-cbd-apartment-building-20190204-p50vgl" target="_blank">Neo200</a>, <a href="https://theconversation.com/the-big-lesson-from-opal-tower-is-that-badly-built-apartments-arent-only-an-issue-for-residents-109722" target="_blank">Opal</a> and <a href="https://theconversation.com/buck-passing-on-apartment-building-safety-leaves-residents-at-risk-119000" target="_blank">Mascot</a> towers and other buildings with serious defects are already living with the impact of “legacy” problems. Over the weekend, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-08-23/cladding-and-mould-forces-residents-out-of-apartment-block/11443976" target="_blank">another apartment building was evacuated</a> – this time in Mordialloc in southeast Melbourne. The building was deemed unsafe because it was clad with combustible material and had defects in its fire detection and warning system.
A costly but essential fix
Fixing such defects is a costly business. A Victorian Civil and Administrative Tribunal <a href="https://www.vcat.vic.gov.au/resources/owners-corporation-no1-of-ps613436t-owners-corporation-no-2-of-ps613436t-owners" target="_blank">decision</a> established that replacing the combustible cladding on the Lacrosse building in Melbourne would cost an average of A$36,000 per unit. At Mascot Towers, consultant engineers <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-08-23/mascot-towers-repair-bill-soars-to-20-million/11439856" target="_blank">estimated the cost</a> of structural repairs at up to A$150,000 per unit on average.
According to <a href="https://cityfutures.be.unsw.edu.au/research/projects/governing-the-compact-city-the-role-and-effectiveness-of-strata-management-in-higher-density-residential-developments/" target="_blank">UNSW</a> and <a href="https://www.afr.com/property/residential/cladding-just-the-tip-of-the-iceberg-20190612-p51wrw#logout" target="_blank">Deakin</a> research, between 70% and 97% of units in strata apartments have significant defects. Let’s assume 85% have such defects and the average cost of fixing these is only $25,000 per unit. That would mean total repair costs for the 500,000 or so tall apartments (four-storey and above) across Australia could exceed A$10 billion.
The Victorian government has taken the lead on combustible cladding, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-07-16/flammable-cladding-removal-fund-victorian-government/11311518" target="_blank">setting up and funding a A$600 million scheme</a> to replace it. It’s also replacing combustible cladding on low-rise school buildings even though these may comply with the letter of the National Construction Code.
No other state has yet followed this lead. This is concerning given the risk to life. No one viewing images of the <a href="https://www.theage.com.au/national/victoria/how-hundreds-of-lives-were-thrown-into-chaos-when-neo-200-caught-fire-20190429-p51i62" target="_blank">Neo200 fire</a> in the Melbourne CBD could doubt how dangerous combustible cladding can be.
The other states and territories should immediately copy the Victorian scheme. While not perfect, and probably underfunded, it is a positive step to improve public safety. The Andrews government should be congratulated for doing something practical while its counterparts in New South Wales and Queensland, which have many buildings with combustible cladding, fiddle about.
All governments share responsibility
The federal government’s response has been inadequate. When asked about contributing to the Victorian scheme, Karen Andrews said: "The Commonwealth is not an ATM for the states […] this problem is of the states’ making and they need to step up and fix the problem and dig into their own pockets."
This flies in the face of reality. All nine governments are responsible for building regulation and enforcement. All signed the <a href="https://www.abcb.gov.au/Resources/Publications/Corporate/2017-Inter-Governmental-Agreement" target="_blank">intergovernmental agreement</a> on building regulation.
The federal government, which chairs the Building Ministers’ Forum, leads building regulation in Australia. The <a href="https://www.abcb.gov.au/ABCB/The-Board" target="_blank">Australian Building Codes Board</a>, which produces the <a href="https://ncc.abcb.gov.au/ncc-online/About" target="_blank">National Construction Code</a>, is effectively a federal government agency. The precursor to the national code, the Building Code of Australia, was a federal initiative.
It is clear Australian governments have worked effectively together in the past to combat threats to life and safety, or to provide consumer protection nationwide. Examples include initiatives as diverse as the <a href="https://press-files.anu.edu.au/downloads/press/n5314/html/ch09.xhtml?referer=&amp;page=16" target="_blank">national gun buyback</a>, the <a href="https://asic.gov.au/about-asic/what-we-do/how-we-operate/history/" target="_blank">creation of the Australian Securities and Investment Commission</a> (<a href="https://asic.gov.au/about-asic/what-we-do/our-role/">ASIC</a>) and the <a href="https://www.choice.com.au/transport/cars/general/articles/takata-airbags-what-you-need-to-know-in-australia-230717" target="_blank">program to replace defective Takata airbags</a> in cars.
The crop of building defects we see today are a direct result of negligent regulation by all nine governments over the past two decades. Clearly, they all have a legal and moral duty to coordinate and contribute to a program to manage the risks and economic damage this has created.
All the evidence points to a <a href="https://www.afr.com/property/governments-failed-to-act-on-warnings-of-combustible-cladding-dangers-20190226-h1br6n" target="_blank">long-term failure to heed repeated warnings about the dangers</a>. Governments and regulators were captive to the interests of the development lobby, building industry and building materials supply industry.
The governments must stop playing a blame game. Effective programs are urgently needed to fix defects, including combustible cladding, incorrectly installed fire protection measures, structural noncompliance, structural failure and leaks.
The Australian Building Codes Board, which is directly responsible for the mess, should be reformed to ensure it becomes an effective regulator. The National Construction Code <a href="https://theconversation.com/australia-has-a-new-national-construction-code-but-its-still-not-good-enough-113729" target="_blank">should be changed</a> to make consumer protection an objective in the delivery of housing for sale.
All parties involved will have to take some pain: regulators, developers, builders, subcontractors, consultants, certifiers, insurers, aluminium panel manufacturers, suppliers and owners. Only governments can broker a solution as it will require legislation and an allocation of responsibility for fault.
The alternative will probably be a huge number of individual legal cases and a rash of owner bankruptcies, which may well leave the guilty parties untouched.<img src="https://counter.theconversation.com/content/122180/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
Geoff Hanmer, Adjunct Lecturer in Architecture, 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/would-you-buy-a-new-apartment-building-confidence-depends-on-ending-the-blame-game-122180" target="_blank">original article</a>.
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Would you buy a new apartment? Building confidence depends on ending the blame game

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EXPERT OBSERVER
Media places undue reliance on auction clearance rates as a barometer of all things real estate. Some commentators appear to regard them as the prime measure of the health of our markets. Even the Reserve Bank seems addicted to the weekly reports on clearance rates.
It’s a flawed policy for many reasons. The figures themselves are notoriously unreliable, if not bogus; they tell us nothing worthwhile about the vast majority of locations in the nation; and even in the two biggest cities where auctions are prevalent, they’re a snapshot of only narrow sectors of the overall market.
Auctions are big in Sydney and Melbourne but are not prominent elsewhere. Even in the two big cities, they tend to focus on the prestige end of the market, so don’t necessarily inform us about the wider scenario.
Until the recent revival, we had a year of poor clearance rates in Sydney and Melbourne, but this failed to reveal key elements of markets within those cities. In Melbourne, the top end suburbs were suffering big declines in their median prices, but pricing was holding up strongly in many of the outer-ring areas such as Melton and Cranbourne.
In Sydney, the ultra top end (suburbs with median house prices above $2 million) did not suffer price decline. Many of those suburbs have median prices higher than a year ago. The faltering auction clearance rates told us nothing about that or about the solid resistance to price decline (minor drops only in median prices) in many of the outer-ring areas. Meanwhile, prices in Sydney’s middle market dropped a lot.
Elsewhere in capital city Australia and throughout regional Australia, auctions are irrelevant as a market barometer. Brisbane, Perth, Hobart, Canberra, Darwin, Newcastle, Wollongong, Ballarat, Bendigo, the Sunshine Coast, the Gold Coast and elsewhere - despite the best efforts of real estate agents, auctions are not the prime choice for vendors across the broad sweep of the nation.
So auction clearance rates this week in Sydney and Melbourne tell as nothing about the health of markets nationwide. The media’s focus on this reflects the reality that most of our major media comes out of the two biggest cities and writers are obsessed with those markets, to the exclusion of all other locations.
So for several years we heard about a “national property boom” that never existed. Then for the past couple of year we’ve read about a “national market downturn” that also never happened. And now, god help us, media is spruiking a “national property market revival” which is also fundamentally about Sydney and Melbourne.
Brisbane isn’t “recovering” because it didn’t have a major downturn, nor Adelaide or Canberra - or most of the rest of the nation.
It’s worth noting that 16 million Australians - the vast majority - don’t live in either Sydney or Melbourne.
The biggest problem with clearance rates is that they’re the worst kind of dodgy data. Clearance rate figures abound with furphies - often sales that did not occur under the hammer at auction are claimed as auction sales. There’s also the reality that agents are more likely to report the results of auctions that are successful than those that are not.
A 75% clearance rate means that 75% of the auctions reported by the agents allegedly resulted in a sale under the hammer. But the figures take no account of the auctions that took place during the weekend for which the results were not reported.
Media generally reports the preliminary clearance rates. The final clearance rates, once more results are in, are always significantly lower but seldom are reported. 
In the past I have researched clearance rates and found that the published figures are always much higher than the true figure, because so many of the unsuccessful auctions were not reported. I estimated that a true clearance rate was usually 12 to 15 percentage points lower than the claims in the media.
More recently, Louis Christopher of SQM Research has researched this area and came to similar conclusions. So, if media reports an auction clearance rate of 75%, the true figure would be closer to 60%.
The research conducted by Christopher’s SQM Research team noted that, as the Sydney and Melbourne booms wound down over the past 1-2 years, the number of unreported auction results rose. Christopher said, based on his latest research and also analysis conducted in the past, that around 70-75% of unreported auctions were failed auctions. 
On one weekend in Sydney last year that was studied by Christopher, the reported clearance rate was 76%. But 239 of the scheduled 836 auctions were not reported. 
If we assume, as Christopher suggests, that 70% of the unreported auctions did not achieve a sale, then the true clearance rate was 63% - well below the reported 76%.
On the same weekend, media reported a 77% clearance rate for Melbourne. But 256 auctions went unreported and the true clearance rate was 65%.
So, while clearance rates have a part to play in analysing major markets, they need to be considered alongside other data. In isolation, they’re not particularly useful.
Terry Ryder is the founder of hotspotting.com.au
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How useful are auction clearance rates? Hotspotting's Terry Ryder

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EXPERT OBSERVER
If more of us were free to work from home, fewer of us would be stuck in traffic. 
<a href="https://www.sciencedirect.com/topics/social-sciences/traffic-congestion" target="_blank">Traffic congestion</a> is one of the most significant challenges facing our cities. Melbourne’s population is growing by around <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/PrimaryMainFeatures/3218.0?OpenDocument" target="_blank">325 people a day</a> and is <a href="https://www.smh.com.au/politics/federal/booming-melbourne-to-become-nation-s-largest-city-by-2026-20190327-p5186v" target="_blank">projected to overtake Sydney’s</a> within a decade.
<a href="https://www.aaa.asn.au/wp-content/uploads/2018/10/AAA-Congestion-Report-2018-FINAL.pdf">Identified as the most congested city in the country</a>, this was a factor in Melbourne <a href="https://www.theaustralian.com.au/nation/nation/melbourne-loses-title-of-most-liveable-city/news-story/f5145850143b5801db36c75ed7d73133" target="_blank">losing its seven-year grip on the “world’s most liveable city” title</a> last year.
One obvious solution to traffic congestion, caused mostly by workers commuting to jobs in the city centre during peak hours, might appear to be building more, or bigger, roads. But a less obvious answer, and potentially a more cost-effective one, might be to increase flexible working arrangements.
<a href="https://www.sciencedirect.com/science/article/pii/S0040162518301549" target="_blank">Our research</a> has looked into ways to ease congestion by reducing the need for travel in congested areas in the first place. It shows city workers definitely have an appetite for flexible work hours and practices.
However, many (36%) still can’t or don’t work remotely. Those who do work remotely do so for a small fraction of the week – 1.1 days on average – even though a high percentage of their work tasks can be done anywhere.
<h2>More roads don’t solve the problem</h2>
Traditionally, congestion has simply been accepted as the starting point, with infrastructure being built to accommodate it. However, as a report on <a href="https://www.nber.org/papers/w15376" target="_blank">US research</a> findings about so-called induced demand <a href="https://www.wired.com/2014/06/wuwt-traffic-induced-demand/" target="_blank">explains</a>:
If you expand people’s ability to travel, they will do it more. […] Making driving easier means that people take more trips in the car than they otherwise would.
This increase in travel uses up any extra capacity improved infrastructure might bring. As a result, <a href="https://www.nber.org/papers/w15376" target="_blank">traffic levels and congestion remain constant</a>.
A <a href="https://www.infrastructureaustralia.gov.au/sites/default/files/2019-08/Urban%20Transport%20Crowding%20and%20Congestion.pdf" target="_blank">2019 report</a> from Infrastructure Australia observes that the huge number of road and rail projects in Sydney and Melbourne, both current and planned, will not prevent crippling congestion by 2031.
<h2>What did the flexible working study find?</h2>
This issue was the motivation for our study into alternative ways to ease congestion. It identified flexible working as one possible solution.
The term <a href="https://www.fairwork.gov.au/employee-entitlements/flexibility-in-the-workplace/flexible-working-arrangements" target="_blank">flexible working</a> refers to arrangements that enable employees to adjust the number of hours they work, the pattern of those hours, or where they work. Flexible working has risen significantly in recent years, with many potential <a href="https://fortune.com/2019/02/20/four-day-work-week-research-benefits/" target="_blank">benefits</a> for both <a href="https://www.recruitment-international.com.au/blog/2018/06/73-percent-of-australian-employees-value-flexible-working-hays-reveals" target="_blank">employees</a> and <a href="https://employsure.com.au/blog/rewarding-retaining-employees-flexible-work-arrangements/" target="_blank">employers</a>. Yet few studies have examined its potential to reduce traffic congestion.
For our <a href="https://www.sciencedirect.com/science/article/pii/S0040162518301549" target="_blank">study</a>, we surveyed 263 city workers from ten of Melbourne’s biggest employers. We asked them about their commuting habits, existing flexible working arrangements, attitudes toward flexible working and the nature of their work tasks.
We found 64% of workers were already taking advantage of some sort of flexible working arrangements that allowed them to work from a remote location, usually at home, an average of 1.1 days a week. And 83% of them either “liked” or “loved” the ability to do this.
Only 2% said none of their work could be performed from an alternative location. A majority of participants, 58%, indicated they could do at least half their work duties out of the office. Some 30% of the workers indicated 80% or more of their work duties could be performed remotely.
<a href="https://images.theconversation.com/files/288868/original/file-20190821-170951-a5jci6.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/288868/original/file-20190821-170951-a5jci6.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Breakdown of participants in flexible working survey. <a class="source" href="https://www.sciencedirect.com/science/article/pii/S0040162518301549" target="_blank">Author's research</a>, Author provided
Technology enables these flexible working opportunities. Laptops, smartphones, high-speed internet and cloud access were highlighted as the must-haves for remote working.
Many of us no longer need to travel to a fixed location to work because the tools of our labour are located there. The tools of our labour are now in our back pockets or work satchels.
<h2>Finland shows what’s possible</h2>
Urban congestion is a growing problem worldwide. Today, <a href="/news">55% of people live in urban areas, a figure expected to reach 68% by 2050</a>. The use of motor vehicles is also growing rapidly.
But access to flexible working is growing around the world too.
Finland, a <a href="https://www.bbc.com/worklife/article/20190807-why-finland-leads-the-world-in-flexible-work" target="_blank">pioneer of flexible working practices</a>, recently adopted a new <a href="https://nordiclaw.fi/new-working-hours-act-of-finland-enters-into-force-1-january-2020/" target="_blank">Working Hours Act</a>. It will give a majority of full-time employees the right to decide when and where they work for at least half of their working hours.
A similar flexible working bill was introduced to the UK Parliament in July by Conservative MP Helen Whately. She <a href="https://www.bbc.com/news/business-49003413" target="_blank">said</a>:
The 40-hour, five-day working week made sense in an era of single-earner households and stay-at-home mums, but it no longer reflects the reality of how many modern families want to live their lives.
Our <a href="https://www.sciencedirect.com/science/article/pii/S0040162518301549" target="_blank">evidence from Melbourne suggests</a> the appetite for, and availability of, flexible working will continue to increase as more people do it and more millennials take up leadership roles.
<a href="https://images.theconversation.com/files/290005/original/file-20190829-184234-ircnwd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/290005/original/file-20190829-184234-ircnwd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
A small reduction in peak-hour commuter numbers could make the difference between being able to squeeze onto a train or not. <a class="source" href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/14027144@N00/94288580" target="_blank">Runs With Scissors/Flickr</a>, <a class="license" href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>
If the 64% of workers who now work remotely 1.1 days a week increased this to five days a fortnight, this could cut the number of daily commuters to Melbourne from <a href="https://www.bitre.gov.au/publications/2011/files/report_125.pdf" target="_blank">572,000</a> to 440,500 a day. If the remaining 36% of workers were also able to work remotely 50% of the time, daily commuter numbers would fall further to around 337,500, a total reduction of 41%.
Even much smaller reductions in commuter numbers could have significant impacts on congestion. An <a href="https://www.parliament.nsw.gov.au/committees/DBAssets/InquirySubmission/Summary/52831/Sub13%20NRMA.pdf" target="_blank">NRMA submission</a> that advocated flexible working hours and practices to a 2013 NSW parliamentary inquiry noted:
As a rule of thumb, when traffic on congested roads reduces by 5%, traffic speeds increase 50% (even if this only means going from 20 to 30km/h) […] A small reduction in the amount of passengers during peak hours can sometimes make the difference between being able to squeeze onto a bus or train, or not.
In this era of growing urban congestion, an increase in flexible working practices appears to have serious potential for easing the strain on our roads and transport networks. Isn’t it about time we asked ourselves if we could all be a bit more flexible?<img src="https://counter.theconversation.com/content/122130/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/john-l-hopkins-255434" target="_blank">John L Hopkins</a>, Theme Leader (Future Urban Mobility), Smart Cities Research Institute, <a href="http://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/flexible-working-the-neglected-congestion-busting-solution-for-our-cities-122130" target="_blank">original article</a>.
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Flexible working, the neglected congestion-busting solution for our cities

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GUEST OBSERVER
It’s easy to ask businesses to invest more, hard to get them to do it. 
You know the economy is in trouble when a clever and successful Liberal Party treasurer resorts to doing an <a href="https://en.wikipedia.org/wiki/Elizabeth_Warren" target="_blank">Elizabeth Warren</a> impersonation in front of the Business Council of Australia in hopes of boosting investment.
That’s what <a href="https://joshfrydenberg.com.au/latest-news/making-our-own-luck-australias-productivity-challenge/" target="_blank">Josh Frydenberg</a> did on Monday, saying:
Share buybacks and capital returns are becoming increasingly prominent and the default option for corporates. But is a buyback always the best option for the future growth of the company and therefore the economy?
Let’s set aside the fact that the recent uptick in buybacks was almost entirely due to a $15.4 billion capital return from BHP after selling off what was left of its ill-fated shale oil and gas investments in the United States.
Are buybacks bad?
A bunch of US Democratic presidential hopefuls sure think so. Self-proclaimed “Democratic Socialist” Bernie Sanders joined with the more centrist Senate Minority leader Chuck Schumer to <a href="https://www.nytimes.com/2019/02/03/opinion/chuck-schumer-bernie-sanders">propose legislation</a> that would require companies spending money to buy back their own shares to raise the minimum wage of their workers $15 an hour and provide seven days of paid annual sick leave.
A number of other prominent Democrats have similar ideas, including Warren, and fellow Senators Kamala Harris and Cory Booker.
There is a myth that share buybacks are some kind of “sure thing” benefit to shareholders that is worth dispelling.
The myth goes like this.
A company buys back some number of its outstanding shares from willing sellers. That reduces the number of shares, but future profits haven’t changed. So, earnings per share go up, and so does the stock price.
That’s said to be is a win for the remaining shareholders, but the business won’t invest as much in capital expenditures and workers might miss out on pay rises.
This logic is tantalising, but wrong. What is overlooked in that the business used cash on hand to buy back its stock. So the value of the company to the shareholders who didn’t sell isn’t the same – it’s been reduced by the amount of the buyback.
The key question is whether that cash can be used more productively inside the company than paid out. US firms like Apple and Boeing have recently undertaken significant buybacks and seen their share price rise relative to the broader stock market. That’s the market telling us that the money is better used outside of Apple and Boeing than in.
The correct term for buybacks like that that increase value is “good corporate governance”, not “short-sighted capitalism” or “theft”.
How to get business to invest more
Having said that, Frydenberg was spot on in his analysis of what is needed to boost wages in Australia:
If we are going to create new jobs and enable people to earn more for what they do, we need businesses to increase their capital expenditure and to adopt new technologies and business practices that effectively integrates capital with labour.“
The question is how to do that.
One thing’s for sure, trying to bully companies into doing it isn’t the answer.
Business invest earnings in plants and equipment when the economic environment is attractive.
Bureau of Statistics figures released Thursday made clear that business have a <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5625.0" target="_blank">negative view</a> of that environment.
Capital expenditures were down a seasonally-adjusted 0.5% in the June quarter – worse than market expectations – and down 1% over the year.
The problem with an investment allowance
One idea the treasurer is reportedly considering is a so-called ”<a href="https://www.bca.com.au/in_the_absence_of_tax_cuts_investment_allowance_is_key" target="_blank">investment allowance</a>“, much like the investment allowance the <a href="https://www.acra.com.au/government-investment-allowance-10-tax-rebate/" target="_blank">Rudd government</a> introduced during the global financial crisis between December 2008 to December 2009.
It would give businesses an immediate tax deduction of, say, 10% on spending on equipment and plant and machinery, in additional to the normal annual deduction for depreciation.
The problem with such allowances is that they don’t provide certainty. The fact that they have been brought in and quickly ended makes it look as if they will be taken away. So businesses use them to bring forward investments rather than make long term plans.
And it is hard to limit them to "additional investment” as Frydenberg said he wanted to on Monday.
By contrast, cutting the company tax rate would signal a permanent shift in policy. It’s politically difficult, which perversely would make it a credible signal about future conditions.
Cutting the rate right away, to 25%, would help move us away from one of the highest corporate tax rates in the developed world, and would boost investment.
The best <a href="https://www.aeaweb.org/articles?id=10.1257/aer.20130570" target="_blank">empirical evidence</a> is that about half the benefit of company tax cuts goes to workers. And as <a href="https://www.afr.com/opinion/the-evidence-is-in-cutting-australias-corporate-tax-will-cut-inequality-20180129-h0prje" target="_blank">I wrote early last year</a>, that evidence suggests that young, low-skilled, and female workers benefit the most.
We also need major government investments in physical and social infrastructure to deal with flagging demand and create an environment in which companies will find it worthwhile to invest.
In the low-growth, low-inflation, secular stagnation world we are in budget surpluses are neither prudent nor evidence of sound economic management. They are a death sentence for jobs and growth.<img src="https://counter.theconversation.com/content/122614/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/vital-signs-business-investment-is-flatlining-and-it-isnt-clear-that-suasion-or-a-special-allowance-will-help-122614" target="_blank">original article</a>.
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