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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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A 2.5 acre lot in Dalby, a town in the Darling Downs region of Queensland, which has been sold for a $145,000 loss six years on.
The property sold for $115,000, less than 45% of what it transacted for in 2013.
Peter Forbes of Property Centre held the listing.
Lot 12, Branch Creek Road is a full fenced lot on the outskirts of town.
All that currently resides on the property is a concrete base shed with electricity.
Last sold in Febrary 2013, the holding changed hands for $260,000.
The property has been listed for sale since December 2015, originally with an asking price of 180,000.
That asking price was first reduced to $150,000 in October 2018, and again in February 2019 to $120,000.
<img src="https://www.urban.com.au/images/2019/7/3/Dalby%202.JPG" alt="">
<div>
Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, and <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>.
</div>
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j.ballantyne1990-6AQqhLzZaK

Bargain property in Dalby? Residential lot sold for less than half previous sale price

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Although the RBA has cut the cash rate by 0.5 per cent over the last two months, the big four haven't passed on all of this cut to their variable rate home loan customers.
All four banks have decided to keep a portion of the cuts back ranging from Westpac's 0.10 per cent, to the 0.06 per cent from NAB and CBA. 
Finder compiled some key points of interest following the interest rate announcement.
The new standard variable rate for the Big Four is 4.94%, with the new average lowest variable rate for the Big Four being 3.42%.
NAB and CBA have the lowest variable rate of the Big Four.
What the big banks are passing on to their variable rate home loan customers:
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-1.JPG" alt="">
The typical Australian is with a big four bank on a discounted variable rate, according to RateCity.com.au who has calculated what the last two months of rate cuts means for them, based on a $400K loan.
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-2.JPG" alt="">
As a result of the latest round of announcements, CBA and NAB are set to have the lowest ongoing variable rates from the big four banks at 3.35 per cent.
<img src="https://www.urban.com.au/images/2019/7/3/July%20Big%204-3.JPG" alt="">
ANZ and NAB are passing on this round of rate cuts within the first two weeks while CBA is once more taking three weeks to pass the latest rate cut on to home loan customers.
<ul style="text-align: left;" type="disc">
<li>CBA rates effective 23 July 2019</li>
<li>Westpac rates effective 16 July 2019</li>
<li>NAB rates effective 12 July 2019</li>
<li>ANZ rates effective 12 July 2019</li>
</ul>
Some of the lowest ongoing variable rates following Tuesday’s cut:
<ul style="text-align: left;" type="disc">
<li>Reduce home loans: 2.89%</li>
<li>Homestar Finance: 2.99%</li>
<li>Athena home loans: 3.09%</li>
</ul>
RateCity.com.au research director Sally Tindall said, “The majority of variable rate home owners are set to save over $100 a month as a result of these two cash rate cuts." 
“Any cut to the cash rate is always a double-edge sword as savers brace for another round of deposit rate cuts."
“RateCity.com.au’s average savings rate is 1.51 per cent but this is set to drop below inflation in coming days as this most recent cash rate cut gets passed on,” she concluded.
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What the Big 4 cuts mean for mortgage holders: RateCity

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The Star Gold Coast, located on Broadbeach Island, is expanding with developers fast-tracking the residential sales launch of its second mixed-use tower.  
The 63-storey, $500 million development will feature 457 residential apartments, 210 five-star hotel rooms and an array of world-class amenities. 
The second tower is the highly anticipated next stage of The Star Gold Coast’s multi-billion-dollar transformation of Broadbeach Island, following the start of construction on the first mixed-use tower, featuring the Dorsett hotel and a residential component known as ‘The Star Residences Gold Coast’. 
The first tower, which began construction in November 2018, comprises 423 residential apartments and is now 92% sold out – making it the fastest-selling residential project in Queensland since launching 19 months ago.  
The two mixed-use towers are being delivered by the same partners building the $3.6 billion Queen’s Wharf Brisbane integrated resort development in Brisbane’s CBD. 
This consortium – comprised of The Star Entertainment Group, Far East Consortium, and Chow Tai Fook Enterprises Limited – has a combined portfolio of more than $6 billion in projects currently planned or underway within Australia. 
Far East Consortium is also spearheading the $2.4 billion West Side Place mixed-use development in Melbourne, delivering 2600 apartments across four towers with the first two towers almost sold out.
Construction of its first tower is underway with the second set to commence next month, following the recent award of its $660 million construction contract.  
Far East Consortium National Sales and Marketing Manager Lauren Sheldon said the decision to fast-track the sales launch of tower two is testament to the demand for real estate on Broadbeach Island, and a vote of confidence in the Gold Coast market. 
"Our consortium aims to invest – through The Star Gold Coast masterplan – an additional $2 billion-plus into embedding the complex and Broadbeach Island as one of the southern hemisphere's largest tourism, entertainment, and lifestyle precinct, and it is clear from the residential sales success of the first tower that buyers are on board with this vision," Sheldon said. 
"The Gold Coast is ripe for this type of development activity, supported by $13 billion in major infrastructure projects recently completed, planned, or underway in the city.  
"We're releasing the second tower to the market, with construction expected to commence in mid-2020 and completion anticipated about 2024.  
"We are confident its high-end residential appeal, premium amenity, and enviable location within the integrated resort development will be extremely attractive to prospective purchasers." 
The latest tower will feature one, two, and three-bedroom residential apartments across the upper 43 levels including an exclusive two-level resident-only recreation deck boasting a sun lounge and yoga deck; a 23.5 metre lap pool; barbeque areas; sauna and steam room; space for a kids’ club; a gymnasium; and private dining rooms. 
One-bedroom apartments, ranging in size from 55 square metres to 64 square metres, will be priced from $486,000.
Two-bedroom apartments, ranging from 71 square metres to 106 square metres, will be priced from $692,000.
Three-bedroom apartments, ranging from 112 square metres to 168 square metres, will be priced from $1,295,000.
Residents will be able to choose from two different apartment colour schemes and each residence is designed to maximise views and coastal breezes.  
The Star Entertainment Group Managing Director and CEO Matt Bekier said the new tower’s hotel and lifestyle offering will further underpin Broadbeach Island as a world-class tourism, leisure, and entertainment destination for visitors to the Gold Coast. 
"Through the latest tower, The Star Gold Coast will offer four hotels on Broadbeach Island – more hotels than any other integrated resort in Australia,” Bekier said. 
“The new five-star hotel will feature 210 rooms and will take the overall hotel accommodation supply on Broadbeach Island to almost 1200 rooms and suites across the four hotels.  
"Starting from level seven and spanning 12 levels, the new hotel will sit above a six-level podium featuring an active retail concourse, and will provide direct connectivity to The Star Gold Coast's other hotel and residential offerings. 
"The second tower’s retail offerings, when combined with tower one, will feature more than 12,050 square metres of retail and resort amenities.  
"These amenities include one of the southern hemisphere's most luxurious day spas and wellness centres; a cafe and wine bar with views to Broadbeach and Coolangatta; an exciting nightlife venue; and speciality lifestyle services including a boutique hair and nail salon, floral services, and a fine food market.”  
An additional sub-tropical recreation deck for use by residents and visitors will connect to The Star Gold Coast, and is designed to create a world-class rooftop experience. 
A large lagoon pool, sundecks, private cabanas, alfresco dining areas, plazas, waterplay, subtropical gardens, function lawns, and outdoor spaces will bring the iconic landmark to life. 
<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/2019/5/30/FAR1476_StarIRDGoldCoast_S010_EXT_Hero_Final.jpg" alt="">
Sheldon said while residents will be able to enjoy living within an integrated resort, the apartments are designed for privacy and seclusion. 
"Residents can choose to immerse themselves in the plentiful opportunities that come with living in an iconic lifestyle destination – or they can enjoy the quiet, private, and secluded environment also on offer. They really do get the best of both worlds," Sheldon said.  
"The residents-only recreation area has been carefully designed to provide seclusion, comfort, and functionality by combining intimate spaces within a lush, subtropical garden setting that offers 360-degree views of the Gold Coast skyline. The dedicated lobby and lifts will allow residents to feel like they have own private retreat in the sky. 
"The latest tower will be the pinnacle of luxury integrated resort living on the Gold Coast. With its enviable location and connectivity to the G:Link Light Rail, designer shopping at Pacific Fair, and proximity to all the action and major events at the adjacent Gold Coast Convention and Exhibition Centre, we are expecting solid interest from owner-occupiers and investors from the Gold Coast, interstate, and internationally."
The latest tower will be positioned south of the Dorsett hotel and The Star Residences Gold Coast apartments tower currently under construction, and will provide hundreds of car parks. Dedicated bicycle spaces will also be available for residents. 
In addition to the construction of the Dorsett hotel and The Star Residences Gold Coast apartments tower, The Star Gold Coast’s transformation to date includes a refurbishment of The Star Grand’s 596 hotel rooms; the opening of a new luxury 56-suite hotel, The Darling; 12 new food and beverage experiences; a new day spa and fitness centre, Azure Spa &amp; Fitness; and additional meeting room space and refreshed conference facilities in the Event Centre.  
A further three towers are planned as part of The Star Gold Coast’s approved $2-billion-plus masterplan for Broadbeach Island.
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The Star Gold Coast launches second residential tower

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EXPERT OBSERVATION
Australian capital city dwelling prices fell by just 0.1% in June, according to CoreLogic.
This marks 22 months of consecutive price declines since prices peaked in September 2017.
This has left prices down 8% from a year ago and they have fallen 10.2% from their September 2017, high which is worse than their GFC decline of 7.6%. 
The pace of monthly capital city average declines has slowed progressively from 1.3% in December to now just 0.1%, with Sydney and Melbourne actually seeing small price gains in June which along with Hobart helped offset quite steep price falls in all the other capital cities.              
Sydney dwelling prices rose 0.1% their first gain since July 2017 after a 14.9% top to bottom fall (which was their worst fall since the early 1980s recession) and Melbourne prices rose 0.2% which is their first gain since November 2017 after an 11.1% top to bottom fall (which was their worst fall in the period since 1980)
Perth prices fell another 0.7% and are now down 19.8% from their 2014 high and Darwin prices fell another 0.9% and are down 30.1% from their 2014 high.
Prices also fell in Brisbane (-0.6% in June and down 2.9% for their recent high), Adelaide (-0.5%) and Canberra (-0.9%). Hobart was the only capital city to see a gain (+0.2%). 
All capital cities have seen prices fall over the last three months.
 <img src="https://www.urban.com.au/images/2019/7/1/falling%20capital%20city%20home%20prices%20.png" alt="">
Source: CoreLogic, AMP Capital
The combination of the election result which removed the threats to negative gearing and the capital gains tax discount, RBA rate cuts, and the relaxation of the 7% mortgage rate serviceability test have helped provide a bounce in home buyer demand.
With Sydney and Melbourne likely to have suffered the most under Labor’s proposed tax changes – because they have a greater share of investors in their property markets - they have seen the biggest benefit from the election result.
This is also evident in a continuing improvement in auction clearance rates in those two cities where June was the best month since September 2017 in Sydney and the best since February last year in Melbourne.
 <img src="https://www.urban.com.au/images/2019/7/1/auction%20clearance%20rates.png" alt="">
Source: Domain, AMP Capital
This is consistent with revisions to our home price forecasts after the election which revised the expected top to bottom fall for national capital city average home prices to 12% (from 15%) mainly due to upwards revisions to price forecasts for Sydney and Melbourne.
However, while home prices may now be at or close to the bottom they are likely to remain constrained and downside risks remain.
The situation today is very different to 2011 when the RBA first started to cut rates in this interest rate cutting cycle which in turn helped unleash booming conditions in the NSW and Victorian economies and rapid debt growth made easy by somewhat lax bank lending standards against a backdrop of undersupplied property markets all of which fuelled rapid growth in Sydney and Melbourne property prices.
By contrast today, household debt to income ratios are much higher, bank lending standards are much tighter such that a return to rapid growth in interest only and investor loans is most unlikely, the supply of units has surged pushing Sydney’s rental vacancy rate well above normal levels and unemployment is likely to drift up as overall economic growth remains weak.  
So while capital city average prices are likely to bottom by year end, we don’t see a return to boom time conditions but rather expect broadly flat home prices through 2020.
 <img src="https://www.urban.com.au/images/2019/7/1/home%20prices%20.png" alt="">
Source: CoreLogic, AMP Capital
Rising unemployment will be the key to watch. We expect unemployment to drift up to around 5.5% by year end and then to around 6% through next year, but a sharper rise could result in forced property sales and another leg down in property prices.
This is not our base case but is the key risk in terms of the property outlook.
Much higher unemployment is something the RBA is keen to avoid – in fact it wants unemployment to fall to 4.5% or below – so our view remains for a rate cut tomorrow (or if not then in August) and further cash rate reductions in November and February next year taking the cash rate to 0.5%.
Shane Oliver is Head of Investment Strategy and Chief Economist at AMP Capital.
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soliver-smf6LQXgW9

Expect property prices to remain constrained: Shane Oliver 

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Victoria’s new stamp duty laws will create higher operating costs for unlisted property funds and is sending shockwaves through the property industry, an industry body has warned. 
The Property Funds Association (PFA), the peak industry body for the $125 billion Australian unlisted wholesale and retail property funds sector, said that changes to The State Taxation Acts Amendment Act 2019 received royal assent on 18 June 2019 and incorporated significant amendments to stamp duty.
“Victoria’s stamp duty changes have been introduced without consultation and will likely increase costs for unlisted property funds, which may then be passed on to unlisted property investors,” Paul Healy, CEO of Property Funds Association said. 
He said the new rules could impact any property transactions within a fund.
“There are particular concerns over how the new stamp duty rules will apply to property transactions, and how they will apply to fund performance fees, acquisition fees, and disposal fees,” Healy said. 
“PFA believes there needs to be more scope for exclusions or exemptions to ensure funds are able to carry out their business without being unreasonably taxed.” 
Most issues centre around changes to the ‘economic entitlement provisions’ under the Victorian Duties Act. Changes include removing the 50% threshold and moving most of the provisions from the ‘landholder duty’ regime into the ‘transfer duty’ regime. 
Prior to the new provisions taking effect, duty was only imposed under the economic entitlement provisions where the owner of the land was a private or wholesale unit trust, or a private company, and the economic interest acquired was 50% or more of the relevant economic entitlement (e.g. rent, profits, capital proceeds etc.).
PFA says removing this 50% threshold and removing the restrictions in the landholder regime means a much wider range of entities and activities will be caught in the stamp duty net. 
Victoria’s State Revenue Office has issued administrative guidance on these new provisions, but PFA says appropriate exclusions from these new provisions should be legislative, rather than administrative.
“This guidance has limited value to many unlisted property funds and does not provide adequate certainty for taxpayers as it does not have legislative force and only addresses ‘plain vanilla’ circumstances,” Healy concluded.
“In PFA’s view, further legislative amendments are warranted to provide clarification and certainty for taxpayers.”
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Victorian stamp duty changes have shocked unlisted property funds and investors: PFA

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Figures released by SQM Research reveal national residential property listings declined by 5.8% in June 2019 to 325,404 from 345,516 in May 2019. Year-on-year listings were also down by 1.8%.
All states experienced a decline in property sales listings over the month, with Melbourne and Sydney experiencing the highest decline at 10.8% and 10.7% respectively.
Hobart was not far behind with a 9.4% decline, followed by Canberra with a 9.0% decline. Darwin recorded the lowest decline at 1.3%. 
Year-on-year Sydney’s listings declined by 9.8%. Canberra’s year-on-year listings increased by 12.5%, the highest percentage increase in the nation, followed by Melbourne with an increase of 5.7% and Hobart with a 4.8% increase.
<a href="https://www.propertyobserver.com.au/images/2019/7/2/property%20listing%201.png" target="_blank">Click here</a> to enlarge:
 <img src="https://www.urban.com.au/images/2019/7/2/property%20listing%201.png" alt="">
Source: SQM Research
Christopher noted it was not unusual for listings to decrease in June, the start of the colder winter months.
"Also, with falling house prices in recent months, most vendors have preferred to wait and watch," he said. 
"The modest rise in asking prices in most cities could be a result of reduced stock levels and also increasing buyer confidence due to multiple factors including the Coalition victory, the RBA cash rate cut in June and the relaxation of mortgage lending rules by APRA."
With further RBA rate cuts expected, we could see increases in property listings in coming months, he suggested.
"Massive monthly falls in recorded listings usually spells higher absorption rates and vendors withdrawing for higher future prices," he added.
Asking Prices
Capital City asking prices increased marginally by 0.4% for houses and 0.8% for units, over the month to 2 July 2019. Unit asking prices are now $563,600 and houses $908,900. Compared to a year ago, the capital city asking prices posted declines of 5.4% for houses and 3.1% for units.
Darwin was the only capital city to record decreases over the month in both houses and units, at 1.5% and 0.2% respectively.
Sydney’s property prices appear to have made a modest turn around and have now posted increases of 1.0% for houses and 1.3% for units over the month, after two years of cooling prices. Sydney’s 12 month decline is 8.1% for houses and 4.8% for units. A house in Sydney is now priced at $1,236,200 and a unit is $692,900. 
Perth, Adelaide and Hobart’s house and unit prices have also increased marginally over the month.
Melbourne’s house prices have increased by 0.3% over the month, however unit prices show a minor decline of 0.3%.
<a href="https://www.propertyobserver.com.au/images/2019/7/2/sqm.png" target="_blank">Click here </a>to enlarge: 
<img src="https://www.urban.com.au/images/2019/7/2/sqm.png" alt="">
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Property listings declined in June 2019: SQM Research

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Just hours after the RBA announced they are further dropping the cash rate by 0.25% today, non-bank lenders are slashing rates ahead of the Big four.
 <a href="https://www.athena.com.au/?gclid=Cj0KCQjw5J_mBRDVARIsAGqGLZCKwKfQxKUvNT0g33wrh6Kg2oBRfwJBwNSWn4iuj0nJVqF2uEWWJ6EaAqxjEALw_wcB" target="_blank">Athena</a> home loans announced it will be passing on the full rate cut.
Another passing on the full rate cut with rates as low as 2.89% is Reduce Home Loans.
Both Reduce Home Loans and Athena's cuts are effective immediately.
Reduce Home Loans was awarded Australia’s Cheapest Home Loan by Money magazine in 2016, 2017, 2018 and 2019.
Resimac and subsidiary State Custodians have both announced they will be passing on the full July RBA rate cut, effective July 24.
So far <a href="/expert-insights/finance/anz-first-to-cut-rates-again-this-time-the-full-cut">ANZ is the only of the big four</a> to announce they are cutting rates, passing on the full July cut, unlike in June when they only passed on 0.18 basis points.
CBA will reduce its standard variable rate home loans by between 0.19% p.a. and 0.25% p.a.
<ul>
<li>Owner Occupied Principal and Interest Standard Variable Rate home loan reduced by 0.19% per annum (p.a) to a new record low rate of 4.93% p.a.</li>
<li>Investor Principal and Interest Standard Variable Rate home loans reduced by 0.19% p.a. to 5.51% p.a.</li>
<li>Owner Occupied Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.42% p.a.</li>
<li>Investor Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.89% p.a.</li>
</ul>
CBA will also introduce a new special term deposit offer, with an extra bonus offer for existing pensioner customers.
At 6.30pm NAB announced it will reduce its variable rate home loans by 0.19% per annum, effective 12 July. 
This is on top of the 0.25% reduction last month by NAB.
Around 6.30pm Westpac announced it was reducing its variable interest rates for home loan customers, including a reduction of 0.2% p.a for owner occupiers and a reduction of 0.3% p.a. for investors with interest only repayments.
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">With the same 0.2% last month</a>, Westpac's combined rate cuts of the past two months ranks as the lowest for home loan customers.
The following interest rate changes will come into effect on July 16 at Westpac:
<ul>
<li>Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 4.98% p.a. for customers with principal and interest repayments.</li>
<li>Variable residential investment property loan reduced by .20% p.a. to 5.53% p.a. for customers with principal and interest repayments.</li>
<li>Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.57% p.a. for customers with interest only repayments.</li>
<li>Variable residential investment property loan rate reduced by .30% p.a. to 5.79% p.a. for customers with interest only repayments.  </li>
</ul>
“Today’s announcement means our Standard Variable Rate (SVR) will be the lowest it has been in more than 45 years for owner occupier home loan customers with principal and interest repayments,” David Lindberg, Westpac Chief Executive, Consumer said.
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Big Four face non-bank lender rate cut blitz

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ANZ has announced it will decrease variable interest home loan rates in Australia by 0.25% pa, the full RBA rate cut, effective July 12.
They are <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">once again the first of the Big Four to cut rates</a>, unlike in June when they only passed on a 0.18 basis point reduction, they are passing on the full 0.25 basis points.
The first to call was <a href="/expert-insights/finance/athena-home-loans-match-the-full-rba-cut-again">once again Athena, a non-bank lender</a>, who passed on the whole July cut, reducing rates by 0.25 basis points, which they also did in June.
ANZ may have made this decision following the backlash last month which prompted the federal Treasurer Josh Frydenberg to say, “I think the ANZ has let down its customers.”
“This is deeply disappointing from the ANZ," he stated following ANZ's decision to not pass on the full June RBA rate cut.
ANZ Group Executive, Australia Retail &amp; Commercial, Mark Hand said: “Today we have decided we will reduce variable interest rates for our home loan customers by 0.25% pa. Importantly, we will apply this reduction across all our variable rate home loans.
“We looked at a number of factors before reaching this decision, including business performance, market conditions and the impact on our customers.
“On balance, we believe this is the right decision for our home loan customers and for our business,” Mr Hand said.
The ANZ changes are as follows: 
1. Decrease all variable interest rates for Australian home and residential investment loans by 0.25%pa. 2. For Standard Variable Rate Owner Occupiers paying principal and interest this reduces the Index Rate to 4.93%pa, from 5.18%pa. 3. For Standard Variable Rate Owner Occupiers paying interest only the Index Rate reduces to 5.48%pa, from 5.73% pa.
So far none of the Big Four have indicated as to whether they will reduce rates in line with ANZ.
But at around 6pm CBA announced it will reduce its standard variable rate home loans by between 0.19% p.a. and 0.25% p.a.
<ul>
<li>Owner Occupied Principal and Interest Standard Variable Rate home loan reduced by 0.19% per annum (p.a) to a new record low rate of 4.93% p.a.</li>
<li>Investor Principal and Interest Standard Variable Rate home loans reduced by 0.19% p.a. to 5.51% p.a.</li>
<li>Owner Occupied Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.42% p.a.</li>
<li>Investor Interest Only Standard Variable Rate home loans reduced by 0.25% p.a. to 5.89% p.a.</li>
</ul>
CBA will also introduce a new special term deposit offer, with an extra bonus offer for existing pensioner customers.
At 6.30 NAB announced it will reduce its variable rate home loans by 0.19% per annum, effective 12 July. 
This is on top of the 0.25% reduction last month by NAB.
Around 6.30pm Westpac announced it was reducing its variable interest rates for home loan customers, including a reduction of 0.20% p.a for owner occupiers and a reduction of 0.30% p.a. for investors with interest only repayments.
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">With the same 0.2% last month</a>, Westpac's combined rate cuts of the past two months ranks as the lowest for home loan customers.
The following interest rate changes will come into effect on Tuesday 16 July 2019 at Westpac.
<ul>
<li>Variable home loan (owner occupier) rate has been reduced by .20% p.a. to 4.98% p.a. for customers with principal and interest repayments.</li>
<li>Variable residential investment property loan reduced by .20% p.a. to 5.53% p.a. for customers with principal and interest repayments.</li>
<li>Variable home loan (owner occupier) rate reduced by .20% p.a. to 5.57% p.a. for customers with interest only repayments.</li>
<li>Variable residential investment property loan rate reduced by .30% p.a. to 5.79% p.a. for customers with interest only repayments.  </li>
</ul>
“Today’s announcement means our Standard Variable Rate (SVR) will be the lowest it has been in more than 45 years for owner occupier home loan customers with principal and interest repayments,” David Lindberg, Westpac Chief Executive, Consumer said.
 
 
 
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ANZ first to cut rates again, this time the full cut

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Just 10 minutes after the RBA announced they are further dropping the cash rate by 0.25% today, <a href="https://www.athena.com.au/?gclid=Cj0KCQjw5J_mBRDVARIsAGqGLZCKwKfQxKUvNT0g33wrh6Kg2oBRfwJBwNSWn4iuj0nJVqF2uEWWJ6EaAqxjEALw_wcB" target="_blank">Athena</a> home loans announced it will be passing on the full rate cut to both existing and new customers.
Effective immediately, the rate drop brings Athena’s rate down to one of the lowest on the market.
They're offering 3.09% for owner occupiers and 3.49% for investors.
Athena CEO and co-founder, Nathan Walsh said, “the big banks delayed passing on the June RBA rate cut by as much as 21 days, costing Aussie borrowers over $100M. Lenders who failed to pass on the full savings cost customers a further $280M."
Since launching in February this year, Athena claim the average customer switching to them from typical big bank rates is saving more than $50,000 over the life of the loan.
Athena was the first non-bank lender to reduce rates last month as well.
The Sydney based online lender announced a new headline variable rate for owner-occupiers paying principal and interest of 3.34 per cent p.a. within 15 minutes of the June RBA decision.
Athena only entered the home loan market this year.
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Athena home loans match the full RBA cut again 

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At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.00 per cent. This follows a similar reduction at the Board's June meeting. This easing of monetary policy will support employment growth and provide greater confidence that inflation will be consistent with the medium-term target.
The outlook for the global economy remains reasonable. However, the uncertainty generated by the trade and technology disputes is affecting investment and means that the risks to the global economy are tilted to the downside. In most advanced economies, inflation remains subdued, unemployment rates are low and wages growth has picked up. The slowdown in global trade has contributed to slower growth in Asia. In China, the authorities have taken steps to support the economy, while continuing to address risks in the financial system.
Global financial conditions remain accommodative. The persistent downside risks to the global economy combined with subdued inflation have led to expectations of easing of monetary policy by the major central banks. Long-term government bond yields have declined further and are at record lows in a number of countries, including Australia. Bank funding costs in Australia have also declined, with money-market spreads having fully reversed the increases that took place last year. Borrowing rates for both businesses and households are at historically low levels. The Australian dollar is at the low end of its narrow range of recent times.
Over the year to the March quarter, the Australian economy grew at a below-trend 1.8 per cent. Consumption growth has been subdued, weighed down by a protracted period of low income growth and declining housing prices. Increased investment in infrastructure is providing an offset and a pick-up in activity in the resources sector is expected, partly in response to an increase in the prices of Australia's exports. The central scenario for the Australian economy remains reasonable, with growth around trend expected. The main domestic uncertainty continues to be the outlook for consumption, although a pick-up in growth in household disposable income is expected to support spending.
Employment growth has continued to be strong. Labour force participation is at a record level, the vacancy rate remains high and there are reports of skills shortages in some areas. There has, however, been little inroad into the spare capacity in the labour market recently, with the unemployment rate having risen slightly to 5.2 per cent. The strong employment growth over the past year or so has led to a pick-up in wages growth in the private sector, although overall wages growth remains low. A further gradual lift in wages growth is still expected and this would be a welcome development. Taken together, these labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.
Inflation pressures remain subdued across much of the economy. Inflation is still, however, anticipated to pick up, and will be boosted in the June quarter by increases in petrol prices. The central scenario remains for underlying inflation to be around 2 per cent in 2020 and a little higher after that.
Conditions in most housing markets remain soft, although there are some tentative signs that prices are now stabilising in Sydney and Melbourne. Growth in housing credit has also stabilised recently. Demand for credit by investors continues to be subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.
Today's decision to lower the cash rate will help make further inroads into the spare capacity in the economy. It will assist with faster progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time.
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