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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GUEST OBSERVATION
Outgoing secretary of the Prime Minister’s Department Martin Parkinson has condemned “entrenched disadvantage” in Australia, in his valedictory address on leaving the public service.
Parkinson also warned it was imperative that Australia did not allow “the kind of retreat from openness and vilification of differences” that had happened in some other countries.
During his long career Parkinson headed the climate change department (now defunct) and treasury (from which he was sacked by Tony Abbott), as well as the prime minister’s department, where he will now be succeeded by Phil Gaetjens, formerly Scott Morrison’s chief of staff and most recently head of treasury.
In his Monday address Parkinson said Australia had not had “the rising income inequality at the top end” of the United States and much of western Europe, “although wealth has become more unequally distributed off the back of rising house prices”.
But this was a “low bar”, he said.
“Our history has bequeathed a degree of entrenched disadvantage that should be seen as a disgrace in any country, but particularly one as developed as Australia,” he said.
More than half of those in the bottom decile in 2000 were still in the lowest 20% 15 years later, he said.
Ideally, people should only be at the bottom of the income distribution spectrum temporarily due to life events, not whole families and communities sentenced to it for generations.
If you want a single thing to blame for the disadvantage we see in Australia, particularly in our remote areas, look no further than an understandable lack of hope. With those kind of odds, anything else would be irrational.
A key to evening people’s chances was to have the best education system that could be achieved and a culture valuing learning, Parkinson said.
He said Australia would need to use all its advantages to sustain its prosperity and security in the future. These included its multicultural society, a merit-based culture and a market-based approach.
There are really only two choices for this country. We can take pride in our diversity and use it as an advantage when interacting with the world, or we can hunker down behind borders and slowly gnaw at each other.
Parkinson said that “to their credit, our parliamentary leaders have maintained a remarkable commitment to an open economy and social cohesion, despite immense pressures the other way”.
On the international front, Parkinson said many regional and global institutions, including the International Monetary Fund and the World Bank, the G20 and APEC, were struggling.
It’s particularly hard for the WTO to enforce trade rules when the largest countries are openly flouting them.
The United States largely built this order in its own image, under-writing it with security guarantees. We benefit immensely from this order and must help support it wherever we can.
Parkinson reflected on his disappointment at his dismissal as treasury secretary. “I received the ‘wooden spoon’ as head of the treasury in 2013 – a job I enjoyed and in which I aspired to follow the nation-building work done by predecessors such as Chris Higgins, Ted Evans and Ken Henry.
"It was a drawn out departure, and I couldn’t even look forward to sitting on the couch to watch a care free game on the weekend as the Essendon Bombers also had a terrible season.”The Conversation

<a href="https://theconversation.com/profiles/michelle-grattan-20316" target="_blank">Michelle Grattan</a>, Professorial Fellow, <a href="http://theconversation.com/institutions/university-of-canberra-865" target="_blank">University of Canberra</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/martin-parkinson-declares-entrenched-disadvantage-in-australia-a-disgrace-122410" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Martin Parkinson declares 'entrenched disadvantage' in Australia a disgrace: Michelle Grattan

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A part of the historic Cyclops toy factory in Sydney inner west is up for sale. 
The warehouse at 40-76 William Street in Leichhardt is being marketed by Knight Frank agent Demi Carigliano.
The 6,931sqm property consists of a 10,060sqm commercial building spanning four levels that is rented to a self-storage facility.
It is the last part of the original warehouse, with the remainder having been converted into apartments.
The remaining part of the old toy factory will be offered to the market for the first time in 30 years.
“Investors can either keep it in its current use as a self-storage building, reposition or re-adapt the existing building into a commercial or food and beverage hub or undertake a residential or commercial redevelopment of the site, subject to council approval," Demi Carigliano said.
He suggested the site has the potential to become a precinct similar to The Grounds of Alexandria, Tramsheds in Glebe or the Cannery in Rosebery.
There are no heritage restrictions on the property to prohibit or restrict development.
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“This is one of the largest freestanding buildings in this area.
“The property has a three-street frontage, including 88 metres on William Street.
It’s also in close proximity to the Leichhardt light rail station.
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Historic Cyclops, Leichhardt toy factory listed with development potential 

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The cheapest auction offering across the capital cities at weekend auction was in Melbourne's West Footscray.
Buyers snapped it up the day prior at $210,000.
The sale was a spacious one bedroom apartment.
Having last sold in 2013 at $173,500, the price guidance for <a href="https://www.realestate.com.au/property/unit-18-436-geelong-rd-west-footscray-vic-3012" target="_blank">18/436 Geelong Road</a> (pictured) had been $196,000 to $215,000.
Its most recent rental had been a $220 weekly asking rental in 2017, but the selling agent Taylor Romao at Tas Stevens Real Estate had suggested it now potentially sat at around $250 a week, reflecting a six percent yield.
Melbourne's dearest sale was $4.67 million in Malvern East.
It was announced on the market at with three bidders competing for the 68 Central Park Road property after the announcement by the Jellis Craig auctioneer.
There was a sale, but no price disclosure when the retired AFL forward Jarrad Waite and his wife Jackie sold their Strathmore house.
The former North Melbourne and Carlton star was seeking $1.35 million to $1.46 million for their home of three years.
Situated at, <a href="https://www.realestate.com.au/property-house-vic-strathmore-131702750">2 Head Street</a> (pictured below), it last sold in 2016 for $1.4 million.
Alexkarbon director Charles Bongiovanni was marketing the post-war home.
<img src="https://www.urban.com.au/images/2019/9/2/West%20Footscray%20Auction%202.JPG" alt="">
Melbourne returned a preliminary auction clearance rate of 76.1 per cent on the last weekend of winter as volumes increased across the city.
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There were 769 homes taken to market across Melbourne, up on the 662 auctions held last week when a higher 77 per cent sold as at final figures.
There were 1,605 homes taken to auction across the combined capital cities this week, increasing on the week prior when 1,415 homes were auctioned. 
CoreLogic reported the higher volumes saw the preliminary clearance rate soften, coming in at 73.6 per cent after the week prior returned a final auction clearance rate of 74.2 per cent; the highest since April 2017.
In Sydney, 584 homes were taken to auction returning a preliminary auction clearance rate of 78.9 per cent, increasing on the 503 auctions held the week prior when it returned a final clearance rate of 78.1 per cent.
Across the smaller auction markets, Adelaide saw 62.5 per cent of homes sell at auction, making it the best performing of the smaller auction markets, 
Canberra wasn’t far behind with a preliminary clearance rate of 61.5 per cent, with a top sale of $2.25 million in Red Hill.
It was a five bedroom house at 16 Roebuck Street which Belle Property sold.
A pre-auction sale of a Woollahra trophy home topped the recorded weekend prices when Jacinta McDonell, the entrepreneurial co-founder of Anytime Fitness Australia, and her partner, Matthew Connolly, founder of Concept Projects, secured $7.35 million for their recently refurbished home.
The couple bought the home for $5.5 million.
The buyer emerged in under two weeks of marketing. It was listed with a $7 million price guidance. The couple installed a lift which Phillips Pantzer Donnelley agents David Tyrrell and Alexander Phillips suggest is was what you “would expect in a high end renovation’’.
Their renovation on View Street saw every tradie donate a percentage of their works contract to The Human Kind Project, a non-profit foundation that funds life-changing projects in Africa. 
The renovation raised more than $65,000 for the African community.
McDonnell set up the foundation in 2015.
A large top-floor one bedroom Punchbowl unit was Sydney's cheapest sale at $320,000.
The Matthew Street deceased estate was just 58 sqm space, plus an enclosed garage. 
The apartment last traded in 1976 the late factory hand paid $19,750.
One-bedroom apartments are few in Punchbowl, with less than 10 being sold in the last year, one fetching $310,000 in March.
Michael Ristevski and Simon Keremelevski of Professionals Punchbowl Real Estate secured the sale. 
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jchancellor-FAypfDUnLy

$210,000 West Footscray unit the weekend's cheapest sale

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Sydney and Melbourne property markets have continued their bounce back following the near two year decline.
Sydney dwelling values saw 1.6 per cent gains over August to be 1.9 per cent up over the quarter.
Melbourne's 1.8 per cent quarterly gains were driven by the 1.4 per cent growth in August.
Over July, Sydney and Melbourne both recorded <a href="/news/perth-downturn-continues-but-sydney-and-melbourne-carry-on-resurgence-corelogic">just 0.2 per cent dwelling value growth</a>.
It's the third consecutive month the two markets have seen dwelling value growth after the <a href="/news/sydney-and-melbourne-housing-downturn-weakening-to-a-halt">slowdown weakened to a halt over June</a>.
Corelogic research director Tim Lawless said that although the recovery trend in the nations two biggest capital city markets continues to strengthen, the expectation is that it will take some time for values to return back to their previous highs.
To enlarge, click here.
<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/2019/9/2/CoreLogic%20August%20Dwelling%20Index.jpg" alt="">
There was growth in five of the eight capital cities. Canberra was the third best performer with gains of 0.8 per cent, followed by Hobart (0.5 per cent) and Brisbane (0.2 per cent).
Declines were felt in Darwin (-1.2 per cent), Perth (-0.5 per cent) and Adelaide (-0.2 per cent.)
It was the second consecutive month national capital city values jumped, following from a <a href="/news/perth-downturn-continues-but-sydney-and-melbourne-carry-on-resurgence-corelogic">0.1 per cent gain over July</a>.
It was the unit markets in Sydney (+1.8 per cent) and Melbourne (+1.5 per cent) which drove the growth.
They were closely followed by houses, where Sydney saw 1.5 per cent gains and Melbourne 1.3 per cent.
To enlarge, click here.
<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/2019/9/2/CoreLogic%20capital%20index.jpg" alt="">
Lawless suggested while the ‘recovery trend’ is still early, it does appear that growth trends are gathering some pace, particularly in the largest capital cities.
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“The significant lift in values over the month aligns with a consistent increase in auction clearance rates and a deeper pool of buyers at a time when the volume of stock advertised for sale remains low.
“It’s likely that buyer demand &amp; confidence is responding to the positive effect of a stable federal government, as well lower interest rates, tax cuts and a subtle easing in credit policy.” 
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jrobinson-rf4aSBido9

Sydney and Melbourne house and apartment prices power ahead in August: CoreLogic

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A roofless three bedroom North Parramatta home, gutted by a fire, fetched $785,000 at auction at weekend auction.
The buyer of the Bourke Street had increased their bid from $780,000 to secure the 535 sqm property under the hammer.
It last traded for $597,500 in 2013.
The original 1960s owner, the Walter family were in attendance at the onsite auction.
<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/2019/8/19/house%20without%20roof.jpg" alt="">
Ray White Parramatta agent Rowan Thredgold had said before the auction he hoped it wouldn't rain given there was no roof, but the rain stayed away.
CoreLogic had estimated its value as somewhere between $785,000 and $1.06 million, owing to its proximity to the expanding Parramatta CBD, proposed light rail station, and the newly built Bankwest Stadium. 
 
<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/2019/8/19/house%20without%20roof%202.jpg" alt="">
 
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Roofless North Parramatta house sells at $785,000

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Aussie Home Loans founder John Symond said the government is putting too much pressure on lenders over stringent customer living expense checks.
He said the housing recovery may be at risk because lenders are "running scared" with about a fifth of customers who would previously have been given loans now being denied for fears if being pursued by regulators.
"I think regulators are going too hard. I think government's got to get involved and say that look we just want to have responsible lending, we don't want to make conditions so easy that anyone can get through," Mr Symond told the Sydney Morning Herald.
"It’s got to the point where lenders and credit people are running scared, you’ve just got to be a bit careful here. We’ve got a very brittle economy, we’re still travelling OK, housing has taken a hit, it’s getting off the ground. Lenders have all been in the firing line of the royal commission," he added.
The remarks come as the Australian Securities and Investments Commission (ASIC) is consulting with the banking industry on responsible lending laws.
The chief executive of the Australian Banking Association, Anna Bligh, said she thought ASIC was "going to a great deal of care to get it right" when she commented on responsible lending.
"We need to have strong customer protections, but we don’t want to lock down access to credit to the point where harms the economy,” Ms Bligh said.
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John Symond says the banks should ease the stringency of checks on home borrower expenses

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EXPERT OBSERVER
Home prices are expected to have increased by around 1.5 per cent in Sydney and Melbourne in August when the final data is released by CoreLogic on Monday. Property sentiment has improved. Better sentiment is evidenced by a jump in auction clearance rates to 2-year highs – pointing to a lift in demand on the back of lower mortgage rates.
And there is more policy certainty, together with an easing in lending criteria from the bank regulator.
That said, listings, turnover and volumes remain low with the Spring selling season a key catalyst for the outlook for the market.
While housing market conditions are improving, the broader residential property market remains challenging for home builders – especially the apartment markets in Sydney and Melbourne – which have seen double-digit annual declines in council consents.
The value of building approvals on an annual rolling basis is still above the decade average, but the number of new homes approved to be built has fallen to the lowest level since January 2013.
The continued slowdown in dwelling investment will continue to act as a drag on broader economic activity and hiring intentions for tradies and construction workers continue to weaken. And concerns about building defects could crimp investor demand for new apartments in Sydney and Melbourne, despite an improvement in lending conditions.
Solid population growth, location appeal of apartments near amenities and transport hubs, lower borrowing costs, improved access to credit for housing borrowers and rising home prices should help eventually stabilise building approvals. Approvals should level-out and modestly lift next year as property developers continue to acquire sites.
Private sector credit &amp; APRA data (July)  
<ul>
<li>Private sector credit (effectively outstanding loans) rose by 0.2 per cent in July after 0.1 per cent growth in June. </li>
<li>Annual credit growth fell from 3.3 per cent in June to an 8- year low of 3.1 per cent in July.</li>
<li> Housing credit grew by 0.3 per cent in July. And the annual growth fell from 3.5 per cent to 3.3 per cent – the slowest growth rate on record. </li>
<li>Owner occupier housing credit rose by 0.5 per cent in July to stand 4.9 per cent higher over the year – equalling the weakest annual growth rate in the past five years. </li>
<li>Investor housing finance fell in July with annual growth the slowest on record at 0.3 per cent. </li>
<li>Personal credit fell by 0.4 per cent in July after declining by 0.3 per cent in June. Lending fell by 3.7 per cent over the year – the biggest annual decline in almost a decade. </li>
<li>Business credit rose by 0.2 per cent in July after a flat result in June. The annual growth rate fell from 4.1 per cent to an 11-month low of 3.9 per cent. </li>
<li>The M3 money aggregate rose 0.4 per cent in July (strongest growth in four months) and Broad Money also lifted by 0.4 per cent. Annual growth of the M3 money aggregate rose from 3.9 per cent to 4.1 per cent with Broad Money annual growth rate up from 4.0 per cent to 4.2 per cent. </li>
<li>Loans and advances by banks grew by 4.0 per cent in the year to July, up from 3.4 per cent in the year to June (the slowest growth rate in 27 years). </li>
<li>Deposits at deposit-taking institutions rose by 1.2 per cent in July.</li>
<li>According to APRA, loans by deposit taking institutions to households via credit cards fell from $39.2 billion to a near 9-year low of $38.6 billion in July. Credit card lending is down by a record 5.0 per cent over the year (biggest fall in 14 years).</li>
</ul>
Building Approvals
<ul>
<li>Council approvals to build new homes fell by 9.7 per cent in July to 12,944 units – the weakest level in 6½ years. Approvals are down by 28.5 per cent over the year.</li>
<li>House approvals fell by 3.1 per cent in July and apartment approvals fell by 19.6 per cent. </li>
<li>In trend terms, overall approvals fell by 3.2 per cent in July, the 20th straight fall. </li>
<li>Over the past year 182,321 new homes were approved (decade average 195,365) – the lowest number of new approvals in 5½ years. </li>
<li>Dwelling approvals across states/territories in July: NSW (down 17.5 per cent); Victoria (down 24.3 per cent); Queensland (up 10.9 per cent); South Australia (up 34.8 per cent); Western Australia (up 5.8 per cent); Tasmania (up 21.5 per cent). Trend terms: Northern Territory (flat); ACT (down 22.4 per cent). </li>
<li>The value of all commercial and residential building approvals fell by 7.3 per cent in July to be down 19.9 per cent on the year. Residential approvals fell by 5.4 per cent in July; new building fell by 6.2 per cent; alterations &amp; additions rose by 0.4 per cent. Commercial building fell by 9.9 per cent.</li>
<li>Over the year to July, building approvals totalled $111.9 billion, up 13.6 per cent above the decade average</li>
</ul>
What are the implications for interest rates and investors?
<ul>
<li>The latest data provides little in terms of fresh direction. Demand for homes has lifted after the election, as shown by home price data. But few are rushing to architects to get new projects off the ground. Both new building and home prices should recover gently over the coming year. </li>
<li>Private sector credit (effectively outstanding loans) responds with a lag to activity in the economy. New loans are added to the stock of loans and old loans get paid down and paid out over time. But credit growth will lift modestly as owner-occupiers and investors respond to a firmer housing market and as more confident business start investing again following the election</li>
</ul>
The Commonwealth Bank Group expects two further rate cuts in November 2019 and February 2020.
CRAIG JAMES is CommSec's Chief Economist
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cjames-5S2v74qSNK

Housing to stabilise, Credit card debt slides: CommSec's Craig James

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A Port Pirie, South Australia mortgagee home has seen it's asking price slashed to $89,000.
The house is being offered for less than it sold for in 2004 when the home transacted at $102,500.
Since it was placed on the market 381 days ago, it has seen it's asking price slashed $46,000.
Sean Manfield of Wardle Real Estate is marketing the property.
Situated at <a href="https://www.realestate.com.au/property-house-sa-port+pirie-129080722" target="_blank">8 Swan Street</a>, the three bedroom one bathroom abode has one carport space and six garage spaces.
Set on 864 sqm, the home was built in 1954.
Following the 2004 sale a DA was submitted in 2007 for a garage/shed with a build value of $9,037.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
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Port Pirie, SA mortgagee listing slashed $45,000, now below previous sale price

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A 2017 built Blackburn, Victoria house has sold for $1.18 million under the mortgagee auction hammer.
The vendors previously listed the property in 2017 seeking $1.55 million but were unable to find a buyer at that price and took the home off the market.
Rupa and Patrick Mane of Raine&amp;Horne marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-blackburn-131626434" target="_blank">1/7 Langtree Court</a>, the two level abode contains four bedrooms and three bathrooms.
Set on 350 sqm, the house features two kind sized bedrooms, timber flooring and fully landscaped gardens on both sides of the home.
Located in a quiet cul-de-sac, it is only a short walk to Blackburn North Shopping Centre and Whitehorse's Golden mile shopping strip and within a 5 minutes' drive to the Eastern Freeway or Blackburn Railway station among other amenities.
Last sold in 2015 the home previously residing on the holding sold for $1.36 million, $180,000 more than what it sold for in August 2019.
Before that the home sold for $1.153 million in 2014.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for an apartment in <a href="/developments/blackburn-vic-3130">Blackburn</a> is $1.17 million according to CoreLogic data.
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Near new Blackburn, Victoria mortgagee home sold for $200,000 loss

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A nine bedroom Applecross, West Australia manse has been sold for $2.33 million dollars after an unsuccessful 2016/2017 marketing campaign.
Originally the vendors sought $4.8 million when they put the home on the market in December 2016 but by the end of the campaign the asking price had been reduced to $3.95 million before being taken off market in October 2017.
The home was relisted as a mortgagee sale through Monica Yeoh and Jan Radley of Acton in March 2019.
Situated at <a href="https://www.realestate.com.au/sold/property-house-wa-applecross-130686786" target="_blank">45 Matheson Road</a>, the home was unsuccessful at auction in April and the asking price was set at $2.6 million where it remained until the home sold in late August.
Set on 1,011 sqm, the nine bedroom, six bathroom home is just a block from Swan River.
The holding was previously purchased in 2004 for $890,000.
The home previously residing on the block was knocked down and rebuilt in 2014.
Featuring five separate living areas incorporating a tiered home theatre, the property has over 800 sqm of internal space.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for an apartment in <a href="/developments/applecross-wa-6153">Applecross</a> is $1,406,088 according to CoreLogic data.
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