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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EXPERT OBSERVER
The national housing market has just experienced its largest downturn in dwelling values since at least the 1980s.
The fact that values nationally fell by less than 10% speaks to the ongoing strength of the housing market over the past 40 years which has culminated in Australia being one of the most expensive places in the world in which to buy property.
Since the federal election in May, there have been ongoing signs of improving market conditions.
This has been driven by a number of factors including: an unexpected win by the Coalition in the federal election which removed uncertainty about changes taxation policies relating to investment, two 25 basis point cuts to interest rates, tax cuts for low income earners and an easing of some of the previous lending restrictions that were in place.
While there are clear signs of improving conditions, many point to the fact that the very low volume of sales in the market indicate that the recovery is not real or unsustainable.
While that could very well prove to be true if/when stock levels rise, the truth of the matter is that in a downturn, sales volumes typically fall and subsequently, the early stages of a housing recovery are usually characterised by low volumes of sales.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Recovery%201.JPG" alt="">
The above chart shows the monthly volume of settled sales for dwellings nationally, together with the rolling three month change in dwelling values nationally. The dotted line represents 0% change, so anything below means that values are falling and anything above is indicative of growth. What becomes quite clear from the data is that when values are declining, sales volumes typically fall and increasing values typically leads to higher volumes.
What is also evident is that the market doesn’t respond immediately, when values start rising, initially at least, it isn’t necessarily occurring in concert with a rise in sales volumes. Even recent examples in the 2009 and 2011 market recoveries show this to be the case.
This is precisely what is occurring at the moment, specifically in Sydney and Melbourne where housing conditions are improving following a sharp downturn.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Recovery%202.JPG" alt="">
Another way to look at how a housing market recovery starts out with low sales volumes is the auction market.
Coming out of the Global Financial Crisis (GFC), values nationally started to lift in January 2009. Equally, the above chart shows how auction clearance rates bounced however, this bounce occurred with very low volumes of auctions taking place.
Equally, the housing recovery which started in early 2012 saw a relatively low number of auctions occurring right through until early 2013. It is a similar story right now with auction clearance rates having bounced higher since the middle of May, yet the volume of properties going to auction remaining quite low.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Recovery%203.JPG" alt="">
Finally, you can only really take to auction or purchase what is available for sale. One of the major reasons why transaction volumes remain so low is because there is very little actually available for sale. The number of new listings nationally (new listings are anything not previously advertised for sale over the past 6 months) are the lowest they’ve been at this time of year for many years and are -18.9% lower than they were last year.
Total listings are also lower than they’ve been at this time of year for many years and are -4.4% lower than they were a year ago.
Auction volumes have certainly fallen much more than volumes in the general market however, as housing market conditions have softened, vendors have become much more selective about which properties are appropriate to be taken to auction.
Notwithstanding that, as we have seen in the past you can’t say that an increase in dwelling values is not sustainable just because the volume of stock either selling or going to auction is low.
Ultimately, you can only transact that which is actually available for sale and at this point there is not a lot of stock available for sale. Of course as we enter spring that may change and a higher volume of stock for sale may prove to snuff out any increases in housing values but at this stage the improving trend is quite real.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
</body></html>

ckusher-ujnxiKuFQs

The signs of a market recovery: CoreLogic's Cameron Kusher

<html><body>
EXPERT OBSERVER
What Australians can learn from rising home insurance premiums in New Zealand?
Australia and New Zealand have experienced significant natural disasters in recent years.
The floods in Queensland, earthquakes in Christchurch and Kaikoura as well as bushfires in South Australia highlight just how vulnerable residents can be to these massive unforeseen events and how much they reply on insurance to protect themselves, their properties and their belongings.
When you’re at the whim of Mother Nature, having an appropriate level of home and contents insurance is an absolute necessity.
Nevertheless, living in a hazard capital means insurance comes at an ever-increasing price. We only have to look to Wellington as an example to see how recent regulatory change (following amends to the Earthquake Commission Act) and a more granular approach to risk management have seen insurers re-evaluate the risks they are taking on.
As a consequence, premiums have been steadily rising and this presents a raft of challenges for homeowners across the region. The following synopsis of the changing face of insurance in Wellington could be of interest to you as a fellow Tasman resident, and give an insight into what happens when a market moves from generalised to granular risk based pricing.
As well as being a participant in the sector in my role as insurance commentator for Australian and New Zealand, and leading the NZ insurance business, I’m also a home owner and therefore insurance customer, so I’ve seen firsthand the steady rise in premiums in the past few years. Whilst insurance has always been risk based, the level of granularity of the risk assessment is rapidly changing.
Go back a few years, and risk was assessed using Cresta Zones - large areas made up of adjacent postcodes. But this meant that your risk was assessed the same regardless of whether you were on the side of a hill in Wadestown or on the flat in Tawa.
Tower got the ball rolling with its per property risk-based pricing in April 2018, and last month IAG followed suit.
Whilst the effects of these changes won’t be felt fully for some time yet, until higher renewals start hitting the letterboxes or people move and seek new policies, the media were certainly quick to pick up on disgruntled Tower customers and report the odd extremes where premiums had shot up by tens of thousands for particularly "risky" properties. Whilst examples of $ 12,000, or greater, increases were thrown around, Tower were quick to respond that only 1% of their premiums were rising by more than $ 2,000 per annum.
However, according to Stats NZ household spending on property related insurance has risen from an average of $ 15 a week in 2008 to $ 34 a week in 2018. With the rises in the EQC and Fire Service Levy this year pushing this up this year, but there is no doubt that this will rise again as more risk based premiums come into effect Across other insurers.
In March, IAG hit the headlines, announcing that it would take a "conservative approach to writing new business in Wellington due to the high earthquake risk in that part of the country". This so alarmed Wellington Mayor, Justin Lester that he called for more regulation and an Insurance Forum, saying that insurers have a social responsibility to provide insurance cover that is affordable for all. He also referred to the ACC model and implied we should look at a state run insurance model for property. Maybe we could call it "State Insurance".
Oh. . . wait. I understand the Mayor's concerns, but do insurers have a social responsibility? New Zealand is unique in that it has EQC – a government backed insurer of the first $ 150K of natural hazard damage for any property that holds a domestic policy with Fire Cover.
EQC holds a socially responsible position - for example they decided to run the Canterbury Earthquake response as a centrally managed repair as they believed the social outcome would be better than making cash payouts with the associated risk of price gouging and a free for all for builders.
EQC also charges the same levy for any dwelling anywhere in the country. Private insurers are in a different boat, however. They aren’t subject to a government guarantee and have a corporate responsibility to be financially prudent in their risk appetite and the financial return on that risk.
Whilst insurers do want to provide cover to Kiwis, it's entirely logical to take account of the likely risk at an individual property level. They also have to buy reinsurance on the global market which certainly doesn’t view insurance as a social responsibility – they exist to price and cover risk in return for premiums.
That means that Wellingtonians will begin to pay higher premiums commensurate to the actual level of risk they face. A compounding effect is that insurers also have to hold additional capital reserves or reinsurance to cover the costs of a 1 in 1,000 year event for property within 50km of the Beehive.
Whilst not a new requirement, that's still very real cost of doing business in Wellington, especially with building costs rising by nearly 5% per annum according to the Cordell CHIP Report. It’s not just Wellington, though. It also means that other parts of the country that face risks such as regular flooding, with all indications that the severity and frequency are increasing with climate change, or are on the coast with the increased risk of erosion from storm surge, will also attract higher premiums. In order to retain cover, insurers may opt to provide higher excess for specific events, or exclude them altogether.
If your house has flooded three times in four years, why would any sane business continue to offer cover for future flood events? Even councils are stepping away from commitments to protect homes against the rising tide of climate change and coastal erosion.
Recently the Mayor of Kapiti indicated that they only had a limited responsibility to help over 1,800 coastal homeowners and ultimately they were on their own, commenting on the general costs of coastal protection: "How long can we mount a defence, how much will it cost and who pays? These are the challenging questions now and especially into the future."
 A similar story in the Taranaki where the council won't extend a seawall protecting several homes. Climate change is estimated to bring more severe storm surge events which will further cause issues over insurance cover for coastal properties and many coastal owners may find their stunning beachfront views uninsurable.
Whilst insurers try and operate with social responsibility, they also have financial responsibility as well. As I pointed out to a colleague – would you be happy if your bank was making poor lending decisions that might impact on the amount you pay for your mortgage and the stability of your lender should those loans go bad? Sure, insurers are in the business of covering risk, but like any business they have to ensure they have a sustainable balance between risk and reward.
Aucklanders, of course, may see the benefits of this southwards shift in risk pricing with improved premiums. A friend up there recently switched to a risk based insurer and saved over $ 1,500 in their annual premium for the same cover with the same excess.
So, what does this mean for Kiwis?
Firstly, premiums will continue to rise – that’s a certainty – especially in higher risk areas. Let’s stop trying to be King Canute against the rising tide of higher risk and climate change. Secondly, buyers should consider insurance early on in the home buying process. When you’ve been to an open home and have fallen in love with a house, check out how much insurance cover will be. Jump on an insurer’s website and use CoreLogic’s Cordell Sum Sure to estimate the rebuild cost and get a quote for cover.
Get two or three quotes for comparison. Look at the highest premium and assume that all premiums will rise to that level in the next few years, so factor that in to your budget, along with increasing interest rates. If a property is returning a high premium, but you still want to make it your home, maybe factor the future cost of insurance in to your offer? And definitely make that offer conditional on satisfactory insurance and don’t leave it to the last minute.
Another emerging effect of these changes is that lenders are beginning to consider how these changes might affect them and their risk. If they have a 25 year relationship with the home owner, but the insurer only has a 12 month commitment. Rising premiums and a possible retreat from cover in some areas could certainly affect lenders.
The other question is, how will these changes affect Australia?
Whilst there is certainly a level of risk based pricing here, climate change, which is likely to result in more storms further south, increased storm surge, resulting in more flooding will certainly affect how insurers price risk and what they are prepared to cover.
Added to that, many insurers and brokers operate trans-Tasman and so are clearly impacted by changes across the ditch. That aside, now is as good a time as any to review your cover whichever side of the Tasman you live on, and make sure you’re getting value for money across your home and contents insurance.  
RICHARD DEAKIN is the CoreLogic Head of Insurance
What Australians can learn from rising home insurance premiums in New Zealand? Richard Deakin, CoreLogic Head of Insurance comments: Australia and New Zealand have experienced significant natural disasters in recent years. The floods in Queensland, earthquakes in Christchurch and Kaikoura as well as bushfires in South Australia highlight just how vulnerable residents can be to these massive unforeseen events and how much they reply on insurance to protect themselves, their properties and their belongings. When you’re at the whim of Mother Nature, having an appropriate level of home and contents insurance is an absolute necessity. Nevertheless, living in a hazard capital means insurance comes at an ever-increasing price. We only have to look to Wellington as an example to see how recent regulatory change (following amends to the Earthquake Commission Act) and a more granular approach to risk management have seen insurers re-evaluate the risks they are taking on. As a consequence, premiums have been steadily rising and this presents a raft of challenges for homeowners across the region. The following synopsis of the changing face of insurance in Wellington could be of interest to you as a fellow Tasman resident, and give an insight into what happens when a market moves from generalised to granular risk based pricing. As well as being a participant in the sector in my role as insurance commentator for Australian and New Zealand, and leading the NZ insurance business, I’m also a home owner and therefore insurance customer, so I’ve seen firsthand the steady rise in premiums in the past few years. Whilst insurance has always been risk based, the level of granularity of the risk assessment is rapidly changing. Go back a few years, and risk was assessed using Cresta Zones - large areas made up of adjacent postcodes. But this meant that your risk was assessed the same regardless of whether you were on the side of a hill in Wadestown or on the flat in Tawa. Tower got the ball rolling with its per property risk-based pricing in April 2018, and last month IAG followed suit. Whilst the effects of these changes won’t be felt fully for some time yet, until higher renewals start hitting the letterboxes or people move and seek new policies, the media were certainly quick to pick up on disgruntled Tower customers and report the odd extremes where premiums had shot up by tens of thousands for particularly "risky" properties. Whilst examples of $ 12,000, or greater, increases were thrown around, Tower were quick to respond that only 1% of their premiums were rising by more than $ 2,000 per annum. However, according to Stats NZ household spending on property related insurance has risen from an average of $ 15 a week in 2008 to $ 34 a week in 2018. With the rises in the EQC and Fire Service Levy this year pushing this up this year, but there is no doubt that this will rise again as more risk based premiums come into effect Across other insurers. In March, IAG hit the headlines, announcing that it would take a "conservative approach to writing new business in Wellington due to the high earthquake risk in that part of the country". This so alarmed Wellington Mayor, Justin Lester that he called for more regulation and an Insurance Forum, saying that insurers have a social responsibility to provide insurance cover that is affordable for all. He also referred to the ACC model and implied we should look at a state run insurance model for property. Maybe we could call it "State Insurance". Oh. . . wait. I understand the Mayor's concerns, but do insurers have a social responsibility? New Zealand is unique in that it has EQC – a government backed insurer of the first $ 150K of natural hazard damage for any property that holds a domestic policy with Fire Cover. EQC holds a socially responsible position - for example they decided to run the Canterbury Earthquake response as a centrally managed repair as they believed the social outcome would be better than making cash payouts with the associated risk of price gouging and a free for all for builders. EQC also charges the same levy for any dwelling anywhere in the country. Private insurers are in a different boat, however. They aren’t subject to a government guarantee and have a corporate responsibility to be financially prudent in their risk appetite and the financial return on that risk. Whilst insurers do want to provide cover to Kiwis, it's entirely logical to take account of the likely risk at an individual property level. They also have to buy reinsurance on the global market which certainly doesn’t view insurance as a social responsibility – they exist to price and cover risk in return for premiums. That means that Wellingtonians will begin to pay higher premiums commensurate to the actual level of risk they face. A compounding effect is that insurers also have to hold additional capital reserves or reinsurance to cover the costs of a 1 in 1,000 year event for property within 50km of the Beehive. Whilst not a new requirement, that's still very real cost of doing business in Wellington, especially with building costs rising by nearly 5% per annum according to the Cordell CHIP Report. It’s not just Wellington, though. It also means that other parts of the country that face risks such as regular flooding, with all indications that the severity and frequency are increasing with climate change, or are on the coast with the increased risk of erosion from storm surge, will also attract higher premiums. In order to retain cover, insurers may opt to provide higher excess for specific events, or exclude them altogether. If your house has flooded three times in four years, why would any sane business continue to offer cover for future flood events? Even councils are stepping away from commitments to protect homes against the rising tide of climate change and coastal erosion. Recently the Mayor of Kapiti indicated that they only had a limited responsibility to help over 1,800 coastal homeowners and ultimately they were on their own, commenting on the general costs of coastal protection: "How long can we mount a defence, how much will it cost and who pays? These are the challenging questions now and especially into the future. " A similar story in the Taranaki where the council won't extend a seawall protecting several homes. Climate change is estimated to bring more severe storm surge events which will further cause issues over insurance cover for coastal properties and many coastal owners may find their stunning beachfront views uninsurable. Whilst insurers try and operate with social responsibility, they also have financial responsibility as well. As I pointed out to a colleague – would you be happy if your bank was making poor lending decisions that might impact on the amount you pay for your mortgage and the stability of your lender should those loans go bad? Sure, insurers are in the business of covering risk, but like any business they have to ensure they have a sustainable balance between risk and reward. Aucklanders, of course, may see the benefits of this southwards shift in risk pricing with improved premiums. A friend up there recently switched to a risk based insurer and saved over $ 1,500 in their annual premium for the same cover with the same excess. So, what does this mean for Kiwis? Firstly, premiums will continue to rise – that’s a certainty – especially in higher risk areas. Let’s stop trying to be King Canute against the rising tide of higher risk and climate change. Secondly, buyers should consider insurance early on in the home buying process. When you’ve been to an open home and have fallen in love with a house, check out how much insurance cover will be. Jump on an insurer’s website and use CoreLogic’s Cordell Sum Sure to estimate the rebuild cost and get a quote for cover. Get two or three quotes for comparison. Look at the highest premium and assume that all premiums will rise to that level in the next few years, so factor that in to your budget, along with increasing interest rates. If a property is returning a high premium, but you still want to make it your home, maybe factor the future cost of insurance in to your offer? And definitely make that offer conditional on satisfactory insurance and don’t leave it to the last minute. Another emerging effect of these changes is that lenders are beginning to consider how these changes might affect them and their risk. If they have a 25 year relationship with the home owner, but the insurer only has a 12 month commitment. Rising premiums and a possible retreat from cover in some areas could certainly affect lenders. The other question is, how will these changes affect Australia? Whilst there is certainly a level of risk based pricing here, climate change, which is likely to result in more storms further south, increased storm surge, resulting in more flooding will certainly affect how insurers price risk and what they are prepared to cover. Added to that, many insurers and brokers operate trans-Tasman and so are clearly impacted by changes across the ditch. That aside, now is as good a time as any to review your cover whichever side of the Tasman you live on, and make sure you’re getting value for money across your home and contents insurance.
</body></html>

j.ballantyne1990-6AQqhLzZaK

What can Australians learn from rising home insurance premiums in New Zealand? Richard Deakin

<html><body>
The residential market in Perth has tracked closely in line with Herron Todd White (HTW) February predictions for the year (so far), according to a recent HTW residential report. 
"Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes.
"Thankfully, the wider Perth area has seen some stability in its median price," the valuation firm said. 
The report notes that the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
REIWA data shows that there were 6,636 properties sold in the March quarter, proving Perth’s state of subdued activity.
REIWA reports that “although overall sales are down, 10% of suburbs experienced stable or increased volumes”.
"This is a positive sign as there are improvements in some sub markets, and it shows the differences between Perth’s inner and outer suburbs," the valuation firm notes. 
Figure 1 shows the distribution of wider Perth area house sales by price bracket.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%201.jpg" alt="">
In the December 2018 quarter, 64% of homes sold below $600,000.
This figure jumped to 70% in the recent March quarter, indicating that affordability is continually improving, but it is also a symptom of a decline in prestige activity.
President of REIWA Damian Collins states that this affordability “presents excellent opportunities for first home buyers, trade-up buyers, downsizers and investors to secure a good deal”.
Listings have increased 6% since the December 2018 quarter to 16,957 which isn’t helping selling periods. It took an average of 78 days for vendors to sell their properties last quarter.
This is a significant jump from the 68 days to sell in the December 2018 quarter. It can be attributed to new land releases as well as a softening in demand across the board.
Collins recently said “it’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations”.
"This is key to avoid the extended selling periods that we have been seeing far too often.
"Our valuers are seeing frequent evidence of properties becoming stale in the market place due to the initial asking price being out of kilter with the market and the eventual sale price of these properties is often below what market evidence suggests they should achieve,."
The rental sphere was once again increasingly active in the March 2019 quarter, favouring investors and shortening the Perth vacancy rate to 2.5%.
The median rental price remained stable at $350 per week for a ninth consecutive quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs increased over the past year.
"If the rental market continues in this direction we should inevitably see an increase in Perth’s median rent over the coming seasons," the valuation firm said. 
In terms of activity, 14,003 properties were leased during the March 2019 quarter, almost 9% more than the December 2018 quarter.
There were 6,738 properties listed for rent at the end of the March quarter 2019, which was 2% lower than the December quarter figure and 25% lower than the same time last year, showing that competition amongst tenants is ramping up.
It took two days less to find a tenant during the March quarter, decreasing to 42 days.
This figure has crept downwards since the peak of 57 days in June 2017 and shows that tenants need to be decisive and act fast to secure their preferred property.
The suburbs that recorded the best and worst median price growth over the March 2019 quarter are in Figure 2.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%202.jpg" alt="">
A North Lake resort style house at<a href="https://www.realestate.com.au/sold/property-house-wa-north+lake-129943614" target="_blank"> 3 Cheshunt Garden</a> (pictured below) has been recently sold for $820,000.
It was last traded for $581,000 in 2005. 
Set on 662 square metres, the house<a href="https://www.realestate.com.au/sold/property-house-wa-north+lake-129943614" target="_blank"> </a>comprises four bedrooms, three separate livings, swimming pool and large garden sheds. 
<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/2019/8/20/north%20lake.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%203.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%203.jpg" alt="">
Note that both Burswood and South Guildford are benefiting from the sale of properties in new developments.
The Peninsula development by Mirvac would be significantly affecting Burswood’s median as some of the properties are selling for over $1.7 million.
The report notes that a few lifestyle living areas have been active over the past six months including Mundaring, Glen Forrest, and Serpentine. Suburban North Lake has tracked well, jumping 8.5% quarter-on-quarter.
This was surprising to see as North Lake’s surroundings have been disrupted lately by the development of the Murdoch Drive Connection – adding extensions from the Kwinana Freeway and Roe Highway to the Murdoch Activity Centre and Health Precinct.
Peppermint Grove has surged over the past quarter taking its median house price from $3.45 million up to $4,025,000.
There has been a fair amount of activity in this region which is nice to see, as the prestige market (previously helping to stabilise the Perth median) faltered over the March 2019 quarter, showing signs of volatility.
Cottesloe, Swanbourne, Mosman Park, North Fremantle, Attadale, Bicton and Dalkeith all experienced decreases in their annual median house prices.
A three bedroom modern house at <a href="https://www.realestate.com.au/sold/property-house-wa-cottesloe-131272570" target="_blank">281 Marmion Street, Cottesloe</a> has recently been sold for $2.2 million (pictured below).
It was last sold at $2.328 million in 2016. 
It comes with three bedrooms, appointed open kitchen, living area, salt water pool and landscaped gardens.
It's within easy walking distance to parkland and shopping centre. 
<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/2019/8/20/cottesloe.jpg" alt="">
This is understandable however, as the March quarter usually experiences an increase in listings.
On top of this, consumer confidence has been low; the fallout from the Banking Royal Commission has created a challenging financial market, and with the distraction of a federal election, homeowners and investors would be hesitant to make any big moves.
"There has been a lot of media coverage around the declining Australian property market (mainly surrounding Sydney and Melbourne) and this isn’t helping confidence in the Western Australian market even though our property market is in a different stage of the cycle to the eastern states," the report stated. 
All of this has forced sales volumes to drop, selling periods to extend and top-end prices have fallen as a result.
"In the upgrader market, our valuers are still seeing a fair amount of activity, however home buyers are generally seeking to purchase at a discounted rate.
"This is pushing out selling periods and it seems that prices may continue to soften as a result, further improving affordability," the valuation firm said. 
Perth’s fringe is still being suffocated by chronic oversupply.
Baldivis is continuing its decline due to consistent land releases putting downward pressure on established dwelling sale prices.
As an example, a property on Avoca Chase had a summated cost of $285,000 in April 2018, being one of the cheapest we had seen at the time.
It was sold in March 2019 on completion for $225,000, declining 21% throughout its construction period.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-baldivis-130883546" target="_blank">20 Jitarning Brace</a>, Baldvis has been recently sold for $300,000 (pictured below). 
In 2011, it was traded for $430,000.
The house comprises of four bedrooms, separate theatre, large family and kitchen area and double garage. 
<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/2019/8/20/baldivis%20.jpg" alt="">
"This sales figure is actually considered to be fairly cheap, however it’s part of the unfortunate truth in the current market," the report said.
"Properties in oversupplied regions need to be priced very keenly in order to achieve a quick selling period and avoid them going stale on the market, so listen to the advice of agents about what is realistic and appropriate.
"Developing suburbs in the south-east are in a similar situation. Whitby and Byford have softened over the past six months and it is expected that these areas will stay flat for the remainder of 2019.
"Our predictions for the rest of the year are fairly simple for Perth’s outer regions.
"We expect to see no rebound in 2019 and assume that medians in these areas will continue their slow descent to wherever the median price floor holds, but we expect the overall median house price to remain relatively steady for the wider Perth area as upgraders take advantage of the buying opportunities that are available in many sought after areas." 
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Wider Perth area sees stable median price: HTW residential 

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The French Beauty Academy has opened their fourth Queensland based campus.
The beauty school agreed to a seven-year lease (with a five-year option) of a 651 square metre space, located at 300 Adelaide Street in the Brisbane CBD.
The academy joins seven other tenants who have relocated to the building since late last year.
“The French Beauty Academy strives to provide a premium experience for our students and staff,” said the organisation’s director of operations, David French.
“300 Adelaide represented an exciting opportunity for the Academy to design and build a state-of-the-art beauty focused training facility.”
Having been recently been renovated, the multipurpose complex provides a complimentary car share service for all of its tenants.
The building also features a Mercedes-Benz Brisbane boutique, Motorwagen café, a hair salon, dining options, and its own art gallery. 
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wdavis-8cCN98p7xp

French Beauty Academy opens new Brisbane campus

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The Reserve Bank governor Philip Lowe has acknowledged that lower interest rates had pushed up Sydney housing prices during the 2012 to 2017 boom.
"I think that’s pretty clear," he acknowledged when recently addressing our federal politicians.
But he went onto say there were other things that were "probably more important over the past decade".
"They go to population growth and the slow response to that on the supply side," he said. 
Lowe pinpointed that population growth picked up in Australia quite a lot and it took almost a decade for the rate of growth of the supply to respond to that.
He added he was raising the topic in the context of the next phase in the housing market.
"Because what we’re seeing at the moment is quite strong population growth, which I think is good, but the additions to supply of the housing stock are slowing right down.
"New development is slowing down, and one of the issues we’re going to keep a very close eye on over the next little while is what the supply of housing is doing.
"If developers cannot get financed, the supply of housing will slow a lot and we will be sowing the seeds for the next upswing."
The property market is a dynamic entity, always evolving.
One of the great marketing tools bandied about the market is that strong population growth is an indicator of future price growth.
But not just by itself as the governor advises this point fails to heed the impact of supply and demand.
Australia's population stands at around 25.4 million, up 404,000 in 2018.
The ABS calculates one birth every 1 minute and 40 seconds, one death every 3 minutes and 19 seconds, one person arriving to live in Australia every 56 seconds, one Australian resident leaving Australia to live overseas every 1 minute and 53 seconds, leading to an overall total population increase of one person every 1 minute and 13 seconds.
NSW's population sits at just over eight million, up 1.6% last year.
Victoria recorded the highest growth rate of all states and territories at 2.2%. The Northern Territory recorded the lowest growth rate at -0.4%.
Capital city growth accounted for 79% of Australia's total population growth. The capital city with the largest increase in population was Melbourne (119,400 people), followed by Sydney (up 93,400 to around 5.2 million) and Brisbane (50,100).
The fastest growing Sydney localities were around Riverstone, Marsden Park, Cobbitty, Leppington, Rouse Hill and Beaumont Hills.
Taking a look at dwelling approvals, which of course don't all get undertaken, Australia's new housing pipeline currently sits at a five-year low.
The rolling yearly total sits around 199,000, official figures show.
The peak was 232,000 approvals in 2015.
It hasn't been lower than 100,000 nationally since 2001.
There were 180,000 plus peaks in the mid-70s, late 80s, mid-90s, 2000 to 2004 and 2011.
It was running at around 70,000 in the 1950s. 
NSW's approvals peaked in 2017 at around 70,000.
Housing markets are not homogeneous across Australia’s states and territories, or even in neighbouring suburbs.
The relationships between housing markets and the broader demographic shifts are complex, although conventional wisdom does suggest house prices are primarily influenced by the factors headlined by interest rates, building activity and population growth.
When house prices move in an ‘abnormal’ way it is often because one or more of these drivers become distorted relative to their ‘normal’ settings.
This article was first published in the Saturday Telegraph.
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jchancellor-FAypfDUnLy

Low interest rates alone don't explain house price boom – demographics are also key

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Australia’s first luxury pet-friendly hotel is set to be built in Melbourne.
1 Hotel Melbourne will form part of private-developer Riverlee’s $450 million mixed-use​ Northbank project and is expected to feature 280 room five-star rooms, 130 luxury residences, and an ​800-seat function hall. 
1 Hotels has operates four hotels in the United States, including New York City’s Brooklyn Bridge and Central Park, South Beach, Miami and newly opened 1 Hotel West Hollywood.
Pets will be allowed to stay free of charge.
<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/2019/8/19/1%20Hotel%20pet%20friendly%20hotel.jpg" alt="">
"Dogs are part of the family and we would never ask you to leave a family member behind," they advise.
1 Hotel Melbourne will offer plush in-room dog beds, treats available to purchase from the minibar, ​doggy-​day-care ​and​ dog-walking services, inbuilt doggy-doors and food bowls, and a dog-friendly concierge team with knowledge of dog parks, grooming salons and pet stores.
<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/2019/8/22/Pet%20friendly%20hotel.jpg" alt="">
“1 Hotels is renowned across the US for its commitment to sustainability and offering guests a truly memorable experience; one that fuses luxury with nature. Further to this, they also invite guests to bring their four-legged friends along with them, which we felt was a missing piece in Melbourne’s luxury hotel market and one that we are proud to pioneer” said Riverlee Development director David Lee.
The complex will be designed by Melbourne-based interdisciplinary design firm ODO, who will aim to utilise recycled materials in the construction, including the salvaged timber from the wharf restoration works, as well as native greenery and industrial steel.
The hotel is expected to open in 2022.
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Australia's first luxury pet hotel set for Melbourne

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Property buyers are leaning towards variable rate home loans, given the recent interest rate cuts and proposed further cuts from the RBA.
New data from Mortgage Choice shows demand for fixed rate home loans fell in July.
Only 14 per cent of all home loans written were for fixed rate loans.
Mortgage Choice chief executive officer Susan Mitchell said demand for fixed rate loans is the lowest they've seen all year. 
"Despite some very attractive fixed-rate home loan pricing, borrowers across the country are reluctant to fix.    “Last year, a low fixed rate would have been under 4% p.a., but today we are seeing rates starting with a two, which is certainly the lowest fixed rates we have seen in recent history. 
The state by state breakdown of fixed and variable mortgage. 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/2019/8/22/Variable%20rate%20by%20state%20Mortgage%20Choice.jpg" alt=""> Source: Mortgage Choice
“It’s not entirely surprising that borrowers are choosing to keep their options open by opting for variable rate home loans. The reality is, the opportunity to save on repayments if the Reserve Bank cuts the cash rate is too good to pass up.
The RBA suggested at its August meeting, as they have done for a number of months, that they would consider a further easing if necessary to support sustainable growth in the economy.
Reacting to a dwindling in fixed home loan mortgages are the St George, Bank of Melbourne and BankSA, who have slashed their fixed rates by up to 1.40 per cent.
St George and Bank of Melbourne are offering up to five year fixed rates as low as 2.94 per cent, for customers with a deposit of 40 per cent or more, and 2.99 per cent for customers with a deposit of 20 per cent or more.
The two are now offering the lowest four and five year fixed rates, according to RateCity.com.au data.
A total of 75 lenders have cut fixed rates since the most recent RBA cut on 2 July 2019, the biggest being a cut of 1.60 per cent.
RateCity research director Sally Tindall said the banks were gearing up for long-term low rates.
“The banks are falling over each other to claim the title of having the lowest fixed rate on the market,” she said.
“Fixed rates as low as 2.94 per cent will prompt some customers to review their own rate and potentially switch lenders.
“It’s unusual to see some of the largest banks offering some of the lowest fixed rates in the country.
“The idea of fixing your rate under three per cent until August 2024 is a foreign concept to a lot of Australian mortgage holders. While these low fixed rates may seem like sensational deals, we’re likely to see more cuts. 
“The latest ABS data shows the percentage of people opting to fix has fallen to just 14.1 per cent, which suggests customers are holding out to see how low rates go,” she said.
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jrobinson-rf4aSBido9

Lenders cutting fixed rates to sub three per cent as demand wanes

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GUEST OBSERVATION 
Farming families and communities in Queensland’s remote north are being left behind by the digital economy, putting them at significant social and economic disadvantage.
Our <a href="https://www.cairnsinstitute.jcu.edu.au/connectivity-and-digital-inclusion/" target="_blank">report</a>, launched in Cairns today, details the impacts of low levels of “digital inclusion” among farmers in Far North Queensland (FNQ), for whom reliable internet connection is not a given.
People in rural and remote areas – including Indigenous communities – score much lower than urban Australians on the <a href="https://digitalinclusionindex.org.au/" target="_blank">Australian Digital Inclusion Index</a>. This index – which measures access to technology, affordability of connections, and digital ability – shows that North West Queensland (which includes FNQ grazing lands) is one of the least digitally included regions in Australia.
The index also shows that farmers have lower digital inclusion scores than others in similar socioeconomic circumstances. Farmers’ experiences of digital exclusion are therefore worthy of investigation.
While some Australian farmers are getting online and adopting various forms of agricultural technology such as drones, sensors and automated vehicles, many are being left behind. Given that a <a href="https://www.industry.gov.au/data-and-publications/australias-tech-future" target="_blank">2018 federal government report</a> on Australia’s tech future predicted that agriculture will be transformed by digital technologies, it is important to understand how best to help farmers in remote areas get on board.
<img src="https://images.theconversation.com/files/287675/original/file-20190812-71897-1024wxf.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Australian Digital Inclusion Index - Queensland (2018)
Our research revealed a range of findings about the impacts of low levels of digital inclusion for FNQ farmers. Here are four of the main insights from the report.
Farmers pay more for less
Challenges with unreliable services, network congestion, slow internet speeds, and data caps in rural and regional Australia are <a href="https://theconversation.com/regional-australia-is-crying-out-for-equitable-access-to-broadband-69711" target="_blank">well documented</a>. In rural FNQ, mobile, internet and landline connections are often intermittent or drop out altogether. Therefore, many farmers “layer up” on service plans and devices.
For example, a FNQ farming family may have several mobile phones and plans with different providers, a satellite phone and plan, a home landline, and a wireless or satellite connection to the National Broadband Network (NBN). An urban family, meanwhile, may have just one provider that guarantees access and unlimited data to all devices in the household. Farmers pay more for less.
Data is scarce in remote households
Data scarcity is also an issue for farming families, particularly in remote households with only satellite internet connection. Unlike the unlimited fixed-line NBN plans available in urban areas, plans using NBN’s <a href="https://www.nbnco.com.au/corporate-information/media-centre/media-statements/lift-off-for-first-nbn-satellite" target="_blank">Sky Muster</a> satellite are capped, and often more than half of the data is only available in off-peak times, such as between midnight and 7am.
This affects how remote families live, and limits people’s access to digital opportunities. Farming women in particular have to monitor the data consumption of adults, kids, workers, and visitors – often there is not enough to go around.
Deciding what digital activities (banking, homework, job-seeking, video-calling) to prioritise – and who misses out – can be stressful and contentious.
<img src="https://images.theconversation.com/files/288109/original/file-20190815-136208-1r32oob.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Data scarcity is also an issue for farming families on the Savannah Way, Far North Queensland. Amber Marshall
Farmers need to be online to comply with the law
To meet their <a href="https://www.mla.com.au/meat-safety-and-traceability/red-meat-integrity-system/about-the-livestock-production-assurance-program/lpa-accreditation/" target="_blank">accreditation requirements</a>, FNQ cattle producers must complete online modules on various topics including biosecurity, transport methods, and animal welfare. Complying with <a href="https://www.qld.gov.au/environment/land/management/vegetation/clearing" target="_blank">vegetation clearing laws</a> also involves accessing <a href="https://www.qld.gov.au/environment/land/management/vegetation/maps/map-request" target="_blank">maps</a> that are only readily available online. Many farmers struggle to gain access to the internet, log in on a suitable device, navigate the online platforms, and complete the mandatory training. Many therefore risk noncompliance.
For similar reasons, some graziers are resisting digitisation of the <a href="https://www.nlis.com.au/" target="_blank">National Livestock Identification System</a>, which is used to track the movement of cattle nationally. This system is essential for biosecurity, meat safety, product integrity, and market access. Breaches to the system could have catastrophic consequences for the beef industry, for instance in the event of a freeze on the wider movement of cattle.
<img src="https://images.theconversation.com/files/287676/original/file-20190812-71940-iww83c.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Farmers complete an online LPA animal welfare module at a Northern Gulf Resource Management Group toolbox talk, Almaden Pub. Amber Marshall
The network is essential
FNQ farmers rely on mobile and internet coverage across properties and between townships for all sorts of activities, from coordinating the everyday school run to responding to an emergency such as a bushfire. Although two-way radios still play an important role in emergency response, people can only respond if they are in range.
In many instances, FNQ farmers can only access reliable phone or internet from their house or the nearest township. While the national <a href="https://www.communications.gov.au/what-we-do/phone/mobile-services-and-coverage/mobile-black-spot-program" target="_blank">Mobile Black Spot Program</a> is helping to bridge gaps in mobile phone service along major road routes, affordable solutions are needed to beam wifi signals substantial distances from the house.
What can we do to help?
There are several things government and industry could do to help improve digital inclusion in FNQ agricultural communities:
<ul>
<li>Improve mainstream telecommunications and internet infrastructure, and embrace alternative hardware solutions in communities and on properties. For example, <a href="https://www.wi-sky.com.au/" target="_blank">Wi-Sky</a>, which began as a rural cooperative, has built its own towers to offer alternative internet plans to locals in several remote sites in Queensland and New South Wales.</li>
<li>Redefine affordability to take account of the “layering up” phenomenon when developing telecommunications policy at all levels. Current methods to determine affordability do not accurately reflect the true cost and value for money of digital connectivity in rural areas. Telecommunications companies could revise their plans to give their rural customers better value for money, for instance by offering tailored mobile plans for intermittently heavy data users who are out of range for long periods.</li>
<li>Boost farmers’ digital ability to help them do business in the digital economy. Targeted digital ability programs could foster specific skills that farmers want and need, such as using the livestock identification system. These programs could be delivered in partnership with industry organisations such as <a href="https://www.agforceqld.org.au/" target="_blank">AgForce</a> that already have people on the ground in rural and remote areas.</li>
<li>Finally, give farmers a voice. Our policy-focused report was accompanied by two other reports focusing on <a href="http://accan.org.au/grants/completed-grants/1432-connectivity-and-digital-inclusion-in-far-north-queensland-agricultural-communities" target="_blank">participants and particular case studies</a>. Farmers are telling us what they need to take part in the digital economy. It’s up to government and industry to listen, and to work with communities to devise solutions for improved access, affordability and digital ability.<img src="https://counter.theconversation.com/content/121743/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
</li>
</ul>
Amber Marshall, Research fellow, Queensland University of Technology.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/logged-out-farmers-in-far-north-queensland-are-being-left-behind-by-the-digital-economy-121743" target="_blank">original article</a>.
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Farmers in Far North Queensland are being left behind by the digital economy

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A retail investment on four lots with a pharmacy anchor tenant in Mooloolaba, Queensland has hit the market.
The property at <a href="https://www.propertyobserver.com.au/https://raywhitecommercialnoosasunshinecoastnorth.com/properties/commercial-for-sale/qld/mooloolaba-4557/retail/2155172" target="_blank">Ground Floor/77 Mooloolaba Esplanade</a> comes with 401 square metre of total building space,
Situated within the tightly-held retail strip, the sites can be purchased individually or in-one-line.
The properties have been listed for sale via expressions of interest by Ray White Property Consultants Matt Marenko and Louisa Blennerhassett.
The Mooloolaba Beach Pharmacy was a local institution and had operated on Mooloolaba Esplanade since the 1950s.
"The four separate titles provide the opportunity to split the space in the future, but currently, the asset produces $373,360 per annum net income with a fixed four per cent annual increase," Marenko said. 
"The building has also recently received an upgrade to the external façade and paving."
The Mooloolaba Beach Pharmacy comes with a lease until 2027, with options up until 2034.
Mooloolaba Osteopathy and Massage Clinic occupy the balance with a lease up until December 2021, which commenced in 2011, with an option until 2026.
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Tenanted Mooloolaba retail investment hits the market

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GUEST OBSERVATION 
Inheritances can have an enormous impact on finances and lives.
Yet in Australia we know surprisingly little about who gets them and how big they are.
New <a href="https://grattan.edu.au/report/generation-gap/" target="_blank">Grattan Institute research</a> provides some answers.
Inheritances are big and growing
A sample of estates from Victoria’s probate office suggests the median estate in Victoria is worth around A$500,000. That’s likely to be close to what it is Australia-wide.
But many are much larger. About 20% are worth more than A$1 million, and 7% are more than A$2 million. Property is the largest component, accounting for about half of the average value.
The main beneficiaries of “final” estates (estates without a surviving spouse) are children, who receive about three-quarters of all inheritance money.
Other family members, such as nieces, nephews and grandchildren, receive about 20%. Friends get about 4%, and charities 2%.
Average inheritances are growing about two percentage points faster than inflation each year, which is a good deal faster than wages or gross domestic product.
There are reasons to believe they will soon grow even faster.
Net wealth has grown strongly among older households. Households headed by people aged over 75 now have an average of A$1 million in assets, up from A$400,000 for a household headed by a person of the same age in 1994.
And most retirees <a href="https://grattan.edu.au/report/money-in-retirement/" target="_blank">don’t draw down</a> on their savings.
Indeed, many are net savers through much of their retirement, meaning there’s only one place their accumulated property and superannuation wealth can go: into bequests.
Inheritances are going to the already old…
These days, inheritances generally don’t arrive when people are saving for a house or trying to raise a young family.
More than 80% of money passed down from parents goes to people aged 50 and over.
The most common age bracket in which people to receive an inheritance from parents is 55-59.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/INHERTANCE%201.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/20/INHERTANCE%201.png" alt="">
It’s the result of good news – parents are living longer.
But as life expectancy grows still further, it will mean inheritances increasingly supplement the retirement savings of middle-aged Australians rather than help young people get into housing.
…and the already wealthy
The wealthiest 20% of Australians get 38% of inheritance money; the poorest 20% get only 8%.
It means the growing wealth of Baby Boomers is likely to end up concentrated in the hands of a select group relatively well-off Generation Xers and Millennials rather than being widely spread.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/INHERITANCE%202.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/8/20/INHERITANCE%202.png" alt="">
It will reinforce the advantages already enjoyed by people with well-off parents, including better schooling, better connections, and a greater ability to take financial risks because of a parental safety net.
If (as is possible) inheritances end up becoming the dominant route to wealth in Australia surpassing lifetime earnings, there will be less incentive for ordinary Australians to attempt to get ahead through individual endeavour.
We will have entered what French economist Thomas Piketty calls a “<a href="https://www.pbs.org/newshour/nation/how-pikettys-inequality-theory-explains-mr-darcys-wealth" target="_blank">Jane Austen world</a>”.
We don’t tax inheritances…
Calm debate on policy setting around inheritances is <a href="https://insidestory.org.au/death-and-taxes/" target="_blank">hard to come by</a> in Australia.
Inheritances and gifts have been tax-free since the 1970s.
Australia is one of only <a href="https://stats.oecd.org/index.aspx?DataSetCode=REV" target="_blank">seven</a> OECD countries without any inheritance, estate, or gift taxes. Despite the economic arguments for inheritance taxes, there seems to be little appetite to bring them back.
…if anything, we subsidise them
Not taxing inheritances is one thing, but actively subsidising them is another.
Superannuation tax breaks were intended to encourage people to save for their retirement and to take pressure off the age pension system.
But given that many retired Australians <a href="https://grattan.edu.au/report/money-in-retirement/" target="_blank">do not draw down on their capital</a>, a large part of the super tax concessions simply boosts the size of bequests.
Super death benefits tax is intended to claw back the superannuation tax breaks when the money is passed on, in order to ensure that the government doesn’t subsidise inheritances.
But, at 15%, the rate is too low to capture the value of the accumulated tax breaks. And it can easily be avoided by retirees withdrawing funds tax-free and then contributing them back as a post-tax contribution, which is tax-free when passed on.
The special treatment of the family home in the age pension means test also acts to boost inheritances at taxpayers’ expense. Without it there would less to pass on.
It’s time to claw some of them back
There is little justification for taxpayers subsidising inheritances. Policy changes could help.
We recommend a higher tax on super bequests paid to non-dependents to better capture the value of the super tax breaks that are passed on rather than used for retirement. The cap on post-tax super contributions should also be lowered, to limit the re-contribution strategies.
The age pension assets test should include part of the value of the family home, perhaps the part above A$500,000. Seniors with higher-value properties should be allowed to borrow against their home using the Pension Loans Scheme.
This would give them the ability to stay in their home but would mean that some of the wealth that would otherwise be passed to heirs (most likely in their 50s) would instead be used to fund them, taking pressure off the pension.
Owain Emslie, Associate, Grattan Institute 
Danielle Wood, Program Director, Budget Policy and Institutional Reform, Grattan Institute.
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/rethink-inheritances-these-days-they-no-longer-help-the-young-they-go-to-the-already-middle-aged-122029" target="_blank">original article</a>.
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