<p>"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​</p>

<p>"We've lived here before… everything is here," Chris said.</p>

<p>"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe></p>

<p>Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.</p>

<p><a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=364553]</p>

<p>From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.</p>

<p>Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.</p>

<p>The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357510]</p>

<p>While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.</p>

<p>"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.</p>

<p>"We're just thrilled with our choice."</p>

<p>[smartcode_project:default project_id=342 project_image_fid=336455]</p>

<p>Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.</p>

<p>Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.</p>

<p>That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.</p>

<p>Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.</p>

<p>[smartcode_project_cta:default project_id=342]</p>


Joel Robinson

Location and lifestyle drive demand at Candela Ivanhoe

<p>As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.</p>

<p>In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.</p>

<p>That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=370263]</p>

<p>The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.</p>

<p>The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=367468]</p>

<p>Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.</p>

<p>Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=367810]</p>

<p>The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.</p>

<p>For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.</p>

<p>“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=367796]</p>

<p>AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.</p>

<p>Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=370253]</p>

<p>As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.</p>

<p>Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.</p>

<p>[smartcode_project_cta:default project_id=151921]</p>


AURA elevates amenity living at Melbourne Square

<p>Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.</p>

<p>Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.</p>

<p>Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.</p>

<p>The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.</p>

<p><img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" /></p>

<p>The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.</p>

<p>According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.</p>

<p>Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.</p>

<p>The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.</p>

<p>Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.</p>


First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>&nbsp;has unveiled its scaled-back plans for a pair of towers rising up to 49 storeys directly opposite Bella Vista Metro Station.</p>

<p>The builder-developer will deliver 674 apartments and a new mixed-use hub at the gateway to the station precinct.</p>

<p>The State Significant Development Application has been lodged under the Housing Delivery Authority pathway for the 6,979 sqm site at <a href="https://www.apartments.com.au/new-apartments/9-11-mawson-avenue-bella-vista-nsw-2153">9-11 Mawson Avenue</a>, with the apartments sitting above a mixed-use podium. Initial plans were for closer to 900 apartments across two 40-storey towers.</p>

<p>Located around 30 metres from the Bella Vista Metro Station entrance, the development is intended to act as a catalyst for the long-planned Bella Vista Station Precinct, transforming a vacant site into a transit-oriented residential and commercial destination.</p>

<p>Planning documents describe the project as delivering "a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting."</p>

<p><img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="21c08216-589e-490d-ad08-2d88b6fa62d9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20podium.png?VersionId=3TnwjjQCNwTsmyQRaWnFrLTSAF0CJeka" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, the project comprises 674 apartments, including 102 affordable housing dwellings representing 15 per cent of the residential floor space. The housing mix spans studios, one, two and three-bedroom apartments, alongside a collection of townhouse-style residences integrated into the podium levels. The development also includes specialist disability accommodation and an elevated provision of adaptable and liveable housing.</p>

<p>The mixed-use podium has been designed to create an active urban centre around the Metro station, incorporating a 1,423 sqm supermarket, a 3,029 sqm gym, specialty retail spaces, a 100-place childcare centre and a publicly accessible "city room" community space. A secondary laneway, active frontages and landscaped public areas are intended to improve pedestrian connectivity through the site and strengthen links between the station precinct and surrounding neighbourhood.</p>

<p>In the project's design report, Turner said the proposal responds to Bella Vista's emerging role as a higher-density centre within Sydney's north-west growth corridor.</p>

<p>"The project transforms a strategically located site into a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting," the report states.</p>

<p>"Active frontages, a publicly accessible city room, a secondary laneway and a mix of uses including a local supermarket, child care centre and gym create a more complete and socially useful urban environment for residents, workers and the wider community."</p>

<p><img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="0fde6220-82de-4f6a-9b63-d0fd8157acc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20da.png?VersionId=7hEmuSutH8plTd_RqqdmPu055F6qe554" /></p>

<p>Urban Property Group has been one of the busiest developers across Greater Sydney this year.</p>

<p>The developer is progressing around 1,000 apartments across <a href="https://www.apartments.com.au/news/nsw/first-look-urban-property-group-plans-next-major-wollongong-tower">two projects in Wollongong</a>, with several thousand more homes in the pipeline across Newcastle, Castle Hill, Little Bay and Penrith.</p>


First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station

<p>Burwood's southern town centre precinct is set for another major injection of housing, with <a href="https://www.apartments.com.au/developers/holdmark-property-group">Holdmark</a> unveiling plans for three mixed-use towers containing 900 apartments above new retail and commercial space.</p>

<p>The State Significant Development Application covers a consolidated 10,265 sqm site at 36-46 George Street and 16-26 Elsie Street, immediately south of Burwood's commercial core and within walking distance of Burwood Station, Westfield and Burwood Park.</p>

<p>The proposal comprises <a href="https://www.apartments.com.au/new-apartments/36-46-elsie-street-burwood-nsw-2134">three mixed-use towers</a> ranging between 32 and 43 storeys.</p>

<p><img alt="First look: Holdmark unveils 900-home mixed-use precinct for Burwood town centre" data-entity-type="file" data-entity-uuid="84b90b18-a54c-426d-885b-6f205bc2b883" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/burwood%20da1.png?VersionId=cJrb7Snn7qNpRzgXBOXK13PKF2CK021Z" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/studiosc">Studio.SC</a>, the scheme is positioned as a significant extension of Burwood's evolving high-density centre. The project would be delivered across two interconnected development parcels, replacing existing commercial buildings and creating a new pedestrian-focused precinct linking George Street, John Street, Elsie Street and Railway Crescent.&nbsp;</p>

<p>The design report describes the proposal as "a contemporary response to this evolving urban condition," adding that it seeks to "reinforce George Street's role as a human-scaled, active street while contributing to the broader rhythm and grain of the town centre."</p>

<p>The development features a mix of residential, commercial and retail uses, with activated ground-floor frontages intended to strengthen pedestrian connections between Burwood Station, Burwood Place, Westfield and the wider town centre.&nbsp;</p>

<p>The proposal also incorporates extensive communal facilities, landscaped open space and new through-site links designed to encourage public movement across the precinct.&nbsp;</p>

<p><img alt="First look: Holdmark unveils 900-home mixed-use precinct for Burwood town centre" data-entity-type="file" data-entity-uuid="89a6bccc-b78b-4a97-a49f-cac1761f34b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/burwood%20podium%20a.png?VersionId=6HBYg_pKxAc3yCND_wDKZmfMfzfneHmz" /></p>

<p>Studio.SC said the project draws inspiration from Burwood Park and the area's mature tree canopy, with "warm, earthy tones and robust materials such as brick and sculpted concrete" used to anchor the buildings within their urban context.</p>

<p>The scale of the proposal reflects Burwood's growing role as one of Sydney's key metropolitan centres. Planning documents note the suburb's strong population growth, high apartment living rates and increasing transport accessibility, particularly with the future Burwood North Metro station expected to further strengthen the area's connectivity. The development is designed to capitalise on those transport links while introducing a substantial amount of new housing stock into the town centre.</p>

<p>Burwood is expected to see a development boom, with the NSW Government rezoning the Burwood North Metro Precinct, a move expected to deliver around 15,000 new homes surrounding the new station.</p>

<p>Earlier this month, Nascon lodged plans for a <a href="https://www.apartments.com.au/news/nsw/first-look-nascon-targets-burwood-growth-corridor-with-112-unit-apartment-tower">100-apartment development on the edge of the town centre</a>.</p>

<p>Holdmark's broader portfolio includes plans for nearly 800 new homes at Macquarie Park, currently before the NSW Government's Housing Delivery Authority. The developer is also behind a significant portion of the Melrose Park masterplanned redevelopment, as well as the former Caddens Corner drive-in site, where around 500 homes are planned.</p>


First look: Holdmark unveils 900-apartment, mixed-use precinct for Burwood town centre

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>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.</p>

<p>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.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>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.</p>

<p>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".</p>

<p>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.</p>

<p>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.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


The inflation result the property market was waiting for

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<p>Nail and beauty distribution giant Hawley Products has inked a five-year lease on a brand-new industrial facility in Sydney’s north west.  </p>
<p>The 75 5sqm office/warehouse building, located at 14 Brumby Street, Seven Hills, features container height roller door access, internal clearances of up to 8.5 metres and modern office accommodation over two levels. </p>
<p>Completed in June, the property is ideally situated in proximity to the M2 Motorway, providing connection to Sydney’s major road distribution network. </p>
<p>CBRE’s Matthew Alessi and Brendan Wein negotiated the lease transaction on behalf of the private lessor at a rental rate of $160 per square metre (net).  </p>
<p>Mr Alessi said the property’s size and location were key factors underpinning the deal.  </p>
<p>“After identifying this site as being on the market with another agent for more than 12 months, we were able to achieve an excellent result for both parties – with the tenant being able to increase its footprint and racking capacity, and the owner securing a long-term tenant,” Mr Alessi said.</p>
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j.ballantyne1990-6AQqhLzZaK

Hawley Products lease new industrial facility in Sydney's Seven Hills

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<p><span>Woolworths Metro </span><span>will move into the purpose built 1700 sqm ground floor retail space of </span><span>Granville Place, according to SHOKAI Ausbao and Develotek</span><span>.</span></p>
<p>Granville Place is a $400 million mixed-use development in Sydney’s Central River City.</p>
<p>It is one of the Parramatta region’s largest developments.</p>
<p><span>The design for its ground floor space includes a supermarket, restaurants, café's, retail and speciality stores, childcare and a medical centre.</span></p>
<p><span>“We previously joined forces with Woolworths at our The Quay, Haymarket development, so we know the Australian supermarket industry giant is a perfect fit for Granville Place’s higher residential living standards and amenity requirements,” says Jason Gao, from Shokai Ausbao.</span></p>
<p><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/2019/6/20/AUS0853_Granville_S040_EXT_PodiumDay_Final.jpg" alt=""></p>
<p><span>Justin Nolan, General Manager, Metro Woolworths said, “w</span>e’re delighted to be apart of the new Granville development in Western Sydney and look forward to welcoming customers in 2020.”</p>
<p><span>Construction has already begun on site, with the completion of Stage 1 – Towers A, B and the retail precinct – expected by the end of 2020. </span></p>
<p><span>Stage 2 is expected to be complete in 2021.</span></p>
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Woolworths to open store at Granville Place in 2020

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<p>Lakeside Plaza, situated in the growing Perth suburb of Byford, has been listed for sale.</p>
<p>Opening in December 2017, Lakeside Plaza is a 4,710 sqm neighbourhood shopping centre, situated in the heart of The Glades.</p>
<p>The award-winning master-planned residential community The Glades will be home to 10,000 residents. </p>
<p>Located on the corner of Doley Road and Meade Street, on a 13,312 sqm site, the purpose-built centre is anchored by a 1,254sqm IGA supermarket with 19 specialty retailers, including a pharmacy, childcare centre, vet clinic and medical/dental centre. </p>
<p>CBRE’s Richard Cash and Anthony Del Borrello, conjunctionally with Knight Frank’s Todd Schaffer and Rick McIntosh-Whyte, have been appointed to steer the sale process via Expressions of Interest. </p>
<p>Mr Cash said Byford’s lifestyle appeal and population growth would underpin buyer interest. </p>
<p>“With planning underway to extend the Armadale train line south to Byford, connectivity and accessibility to Perth will improve significantly and ultimately underpin continued population growth, which is forecasted to increase by 4.29% per annum till 2036,” Mr Cash said. </p>
<p>Mr Schaffer added, “Investor demand for modern neighbourhood shopping centres remains robust, with four shopping centres having transacted and a further two currently under contract in the first half of 2019. Buyers continue to target convenience focused shopping centres in high growth catchment areas.” </p>
<p>Lakeside Plaza is being offered for sale via expressions of interest closing July 18.</p>
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Byford Lakeside Plaza in Perth hits the market 

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<p>The busiest suburbs for auctions this week are Bentleigh East and Reservoir in Victoria with 14 homes set to go under the hammer each.</p>
<p>Next up are Maroubra (NSW), Craigieburn (Vic) and Richmond (Vic) all with 9 scheduled auctions this week.</p>
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<p><strong>Upcoming auctions</strong></p>
<p><span>This </span>week, 1,394 capital city auctions are currently being tracked by CoreLogic, down from the 1,505 auctions held last week at final results. One year ago, a higher 1,849 auctions took place across the capital cities.</p>
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<p><span>Melbourne is expected to see a decrease in activity this week, with 600 homes scheduled for auction across the city, down from the 724 auctions held last week.</span></p>
<p><span>Activity is set to remain relatively steady across Sydney this week, with 525 scheduled auctions, down only slightly from the 534 homes taken to auction last week.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/auction%20corelogic%202.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p><span><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/2019/6/20/auction%20corelogic%202.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/auction%20corelogic%203.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><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/2019/6/20/auction%20corelogic%203.jpg" alt=""></p>
<p>Source: CoreLogic</p>
<p><span>The smaller auction markets will all see a higher volume of homes auctioned week-on-week with the exception of Perth and Canberra where fewer auctions are scheduled.</span></p>
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<p>One of the auctions is a four bedroom brick house situated on a 690 sqm corner allotment at Bentleigh East. </p>
<p>Located just two blocks from the Centre Road shopping strip, the family house at <a href="https://www.realestate.com.au/property-house-vic-bentleigh+east-131260334" target="_blank">64 Elizabeth Street</a> (pictured below) comprises four bedrooms, free-flowing living areas, Bosch-appliance kitchen and gardens.</p>
<p>Additional features include <span>ducted heating and air-conditioning, ceiling fans, built-in robes and open-fireplace.</span></p>
<p><span><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/2019/6/20/bentleigh%20east%201.jpg" alt=""> </span></p>
<p><span>Another weekend Auction in Bentleigh East is a two bedroom apartment priced between $480,000 and $520,000.</span></p>
<p>Situated in the heart of Bentleigh's lifestyle centre, the apartment at <a href="https://www.realestate.com.au/property-apartment-vic-bentleigh+east-129817498" target="_blank">302/663-667 Centre Road </a>(pictured below) comes with two bedrooms, kitchen with Ceaserstone bench tops, and living area featuring oak flooring. </p>
<p><span><span>It's within close proximity to the beach, Bentleigh station and schools. </span></span></p>
<p><span><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/2019/6/20/bentleigh%20east%202.jpg" alt=""> </span></p>
<p><strong>Summary of Last Week’s results</strong></p>
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<p><span>Last week, the combined capital city final auction clearance rate increased to 61.8 per cent, after the week prior saw the final clearance rate drop to 48.3 per</span><span>cent.</span></p>
<p><span> Last week’s improved clearance rate was across a higher volume of</span><span>auctions (1,505) and also happened to be the highest weighted average seen since 6 May 2018 (62.1 per cent). </span></p>
<p><span>While clearance rates have seen some improvement over the last few weeks, volumes are still tracking lower year-on- year with 2,002 homes taken to market over the same week last year when 52.4 per cent cleared.</span></p>
<p><span>Melbourne and Sydney saw clearance rates reach their highest level seen since April 2018 last week, both coming in at the mid 60 per cent mark.</span></p>
<p><span>There were 724 Melbourne homes taken to auction last week, returning a higher final clearance rate week-on-week, with 64.9 per cent of auctions successful, up on the 62.8 per cent over the week prior when there were only 215 homes taken to auction.</span></p>
<p><span>In Sydney, a final clearance rate of 66.4 per cent was recorded across a higher volume of auctions over the week, with 534 homes taken to market, up on the 313 auctions held over the previous week when fewer returned a successful result (56.2 per cent).</span></p>
<p><span>The smaller auction markets all saw an improvement in clearance rates over the week, with Canberra coming in with the highest final clearance rate of 48.7 per cent.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/auction%20corelogic%204.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><span><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/2019/6/20/auction%20corelogic%204.jpg" alt=""></span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/auction%20corelogic%205.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><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/2019/6/20/auction%20corelogic%205.jpg" alt=""> </p>
<p>Source: CoreLogic</p>
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Bentleigh East and Reservoir set to be busiest weekend auction hotspot's

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<p><span>EXPERT OBSERVER</span></p>
<p><span>National dwelling values are currently -8.2% lower than their peak, the largest decline in values any time over the past 30 years. </span></p>
<p><span>Throughout the period from May 1989 to May 2019, national dwelling values have been at an historic high for 56.8% of that time.</span></p>
<p>There is a significant difference in the figures throughout the capital cities and rest of state regions.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%201.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><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/2019/6/20/corelogic%201.jpg" alt=""></p>
<p>Source: CoreLogic</p>
<p>In fact, the national figures are at historic highs for a greater share of time than any of the individual regions have been.</p>
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<p><span>As at May 2019, dwelling values across the combined capital cities have fallen by -10.1% from their September 2017 peak. The -10.1% fall is the deepest correction throughout any period since May 1989. Since May 1989, the combined capital city index has been at an historic high for 51.0% of the months.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%202.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%202.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>The combined regional market index has seen a more </span>moderate decline than the capital cities with values currently -3.0% lower than their peak. Over the 30 years since May 1989, the combined regional market index has been recorded at a peak for just over half of the months (51.2%).</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%203.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><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/2019/6/20/corelogic%203.jpg" alt=""></p>
<p>Source: CoreLogic</p>
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<p><span>Between May 1989 and May 2019, Sydney dwelling values have sat at historic highs for 44.9% of the time. The current downturn in Sydney is the deepest of any over that period with values currently -14.9% lower than their peak. The current downturn is plotting unchartered territory with prior downturns generally shorter and not particularly deep.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20sydney%20.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20sydney%20.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>Regional NSW dwelling values, as at May 2019, were -4.9% </span>lower than their peak. The last time they were further away from their peak was January 2013. Over the 30 years from May 1989, regional NSW dwelling values have been recorded at historic highs for only 38.2% of the time. As the chart shows, there have been fairly regular periods in which values have fallen across the region.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20nsw.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><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/2019/6/20/corelogic%20regional%20nsw.jpg" alt=""></p>
<p>Source: CoreLogic</p>
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<p><span>Melbourne dwelling values are currently -11.1% lower than their previous peak which is their deepest correction any time since 1980. While the city has seen a number of corrections since May 1989, they have generally been shallow with a quick recovery, the exception was the 1989 downturn where dwelling </span>values didn’t recover until 1997. Over the past 30 years, values have been at an historic high for 44.9% of the time.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20mel%20.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><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/2019/6/20/corelogic%20mel%20.jpg" alt=""></p>
<p>Source: CoreLogic</p>
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<p><span>Over the past 30 years, dwelling values in regional Vic have been at historic highs for 47.4% of the time. Dwelling values are currently -1.1% lower than their previous peak with the falls occurring over recent months. Interestingly, values have been at historic highs over the past 30 years more regularly than those in Melbourne.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20vic.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20regional%20vic.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>Brisbane dwelling values are currently -2.4% lower than their April 2019 peak. The correction to-date is fairly moderate compared to the other downturns experienced over the past 30 years. </span>Over the 30 year period, dwelling values have been recorded at their peak for 49.3% of months.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20brisbane.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p> </p>
<p> </p>
<p><span><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/2019/6/20/corelogic%20brisbane.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Dwelling values in regional Qld have spent only 40.4% of their time at historic highs over the past 30 years. Although values have been at their peak fairly rarely, it is largely due to two corrections between 1994 and 1999 and the current correction which has been ongoing since 2008. Although values recorded a peak to trough fall of -12.6% by October 2012, values are yet to return to their 2008 peak and remain -5.3% lower as at May 2019.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20qld%20.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20regional%20qld%20.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>Adelaide dwelling values have begun falling over recent months and as at May 2019 they were slightly below their previous peak(-0.5%). Over the past 25years,dwelling values in Adelaide have been at historic highs for 53.8% of the time. Adelaide has seen some downturns over the past 25 years however, they have typically been fairly shallow and not taken particularly long to recover.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20adelaide.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20adelaide.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>In regional SA dwelling value have been below their previous peak since April 2015 and are currently -3.0% lower. The regional SA market has seen lots of short periods of value falls over the past 25 years resulting in values being at historic highs for just 32.2% of the time.</span></p>
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<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20sa.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20regional%20sa.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Over the past 30 years, dwelling values have been at their peak for 38.5% of the time. The current decline is the deepest </span>of any over the past 30 years, -19.2% lower. There have been a number of corrections over this timeframe however, they have mostly been quite small. The current downturn is showing no signs of ending as yet and has been ongoing since the middle of 2014.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20PERTH%20.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20PERTH%20.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>The current housing downturn in regional WA has seen values </span>fall by -32.5% from their peak in January 2008 (more than a decade ago). There is no evidence as yet that the declines are ending. As a result of the ongoing declining values, regional WA values have only been at historic highs for 32.1% of the time over the past three decades.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20REGIONAL%20WA.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20REGIONAL%20WA.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Following strong growth in values over recent years, Hobart </span>dwelling values have fallen by a cumulative -1.3% over the past two months. Throughout the past 30 years, Hobart dwelling values have been at an historic high for just 37.7% of the time. There have been many small downturns over the period and two quite large ones which ran for a number of years despite peak to trough falls during these downturns being less than 10%.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20HOBART%20.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20HOBART%20.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>Regional Tas is the only major region of the country in which </span>values are currently at their historic high. Until the past few years there had been an ongoing deep correction in values occurring. Over the past three decades, values have been at historic highs 35.7% of the time.</p>
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<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20REGIONAL%20TAS%20.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><span><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/2019/6/20/CORELOGIC%20REGIONAL%20TAS%20.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>Darwin dwelling values last peaked in 2014 and they are </span>currently 29.5% lower than this peak. This is the largest and deepest correction seen in Darwin although there isn’t a  particularly long data history. Over the past 18 years, values have been at record highs for just 25.3% of the time.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20DARWIN.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><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/2019/6/20/CORELOGIC%20DARWIN.jpg" alt=""></p>
<p>Source: CoreLogic</p>
<p>Values in regional NT are volatile due to few properties, as a result values have been at a peak just 28.6% of the time over the past 18 years. Regional NT values last peaked in 2010 and they are currently -8.1% lower.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20REGIONAL%20NT.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20REGIONAL%20NT.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Dwelling values in Canberra are currently slightly lower than their peak after a decline of -0.2% in May 2019. Over the past </span>25 years, dwelling values in Canberra have been at historic highs 38.2% of the time. Over the period there have been four major downturns with the 1994 downturn running until 1999 and the 2010 downturn running until 2015. The other two downturns were reasonably short and sharp.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20CANBERRA.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20CANBERRA.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>The results may well be viewed as somewhat surprising.<br></span></p>
<p><span>In that, there is a sense that property values seem to be rising more often than not yet across the individual regions the majority have seen values below their previous peak more often than not.</span></p>
<p><span>When downturns have occurred they are often small and</span><span>values return to previous peaks fairly quickly. The current downturn for a number of regions is unprecedented in terms of the magnitude and length of declines. Given this it could be a number of years after values begin to recover until they return</span><span>to their previous highs.</span></p>
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<p><em><span>CAMERON KUSHER </span> is the head of research for the Australian branch of CoreLogic</em></p>
<p><em>Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.</em></p>
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ckusher-ujnxiKuFQs

How often have values been at their peak? Cameron Kusher

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<p>The NAB have changed their forecast for the next official interest rate cut, bringing it forward from August to July</p>
<p>"We do not see a need for the Board to wait," NAB economists said.</p>
<p>They cited RBA Governor Philip Lowe's recent speech at CEDA where he said we're not making any in roads.</p>
<p>“The most recent data – including the GDP and labour market data – do not suggest we are making any inroads into the economy’s spare capacity ... [and] it is not unrealistic to expect a further reduction in the cash rate as the Board seeks to wind back spare capacity ... and deliver inflation outcomes in line with the medium-term target.”</p>
<p>The NAB say they see a strong case for the Reserve Bank to do even more on policy and expect another cut to 0.75% in November.</p>
<p>"The Governor is still making the case that lower rates are directed at reducing spare capacity in the labour market rather than responding to deterioration in the economy," NAB said.</p>
<p>"We disagree, believing there is a more pressing need to deliver stimulus given the economy has lost some momentum and reflecting our weaker economic outlook.</p>
<p>"In brief, the RBA is behind the curve and needs to catch up quickly."</p>
<p> </p>
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jrobinson-rf4aSBido9

NAB bring forecast forward, now predict RBA cut in July

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<p>The RBA Governor Philip Lowe has said the labour market is key to the three key objectives that the RBA has held for the last six decades.</p>
<p>Speaking at the Committee for Economic Development of Australia (CEDA) event, Lowe cited the three broad monetary policy objectives when the Reserver Bank Act was passed 60 years ago.</p>
<p>They were the stability of the currency, the maintenance of full employment and the economic prosperity and welfare of the Australian people.</p>
<p>"These objectives have remained unchanged since 1959," Lowe said.</p>
<p>He said that where other nation's will have focused solely on inflation, Australia have had a three aim approach.</p>
<p>He added however that from operational perspective the flexible inflation target is the centre piece of the monetary policy framework.</p>
<p>"The target – which has been agreed to with successive governments – is to deliver an average rate of inflation over time of 2–3 per cent.</p>
<p>"Our focus is on the average and on the medium term."</p>
<p>Lowe said it was obvious to see the labour markets connection with the second objective, full employment, however it was important in the other two objectives.</p>
<p><span>"Trends in the labour market have a major bearing on inflation outcomes, so they are important for the first element of our mandate [the stability of our currency] as well.</span></p>
<p>"The labour market is, of course, also central to the third objective in our mandate – our collective welfare," Lowe said.</p>
<p>"It is stating the obvious to say that for many Australians, having a good job at a decent rate of pay is central to their economic prosperity. </p>
<p>"The RBA is seeking to achieve the lowest rate of unemployment that can be sustained without inflation becoming an issue.</p>
<p>Lowe suggests there is still spare capacity in the labour market.</p>
<p>"Over recent times there has been a gradual accumulation of evidence which has led to lower estimates," Lowe said.</p>
<p>"While it is not possible to pin the number down exactly, the evidence is consistent with an estimate below five percent, perhaps around four and a half percent.</p>
<p>"Given that the current unemployment rate is 5.2 per cent, this suggests that there is still spare capacity in our labour market.</p>
<p>In the 1960s, less than one in ten workers worked part time (below). Today is it one in three.</p>
<div class="image-graph"><img src="https://www.rba.gov.au/speeches/2019/images/sp-gov-2019-06-20-graph1.gif" alt="Graph 1: Part-time Workers"></div>
<div class="image-graph">Around three million people work part time because they want to, not because they can't find a full-time job, according to the ABS.</div>
<div class="image-graph"> </div>
<div class="image-graph">"Most people who are working part time do so because they are studying or have caring responsibilities, or for other personal reasons," Lowe noted.</div>
<div class="image-graph"> </div>
<div class="image-graph">"So we should not think of part-time jobs as being <cite>bad</cite> jobs, and full-time jobs as being <cite>good</cite> jobs."</div>
<div class="image-graph"> </div>
<div class="image-graph">On the cash rate cut, Lowe said the decision was not in response to a deterioration in the economic outlook since the previous update was published in early May.</div>
<div class="image-graph"> </div>
<div class="image-graph">"Rather, it reflected a judgement that we could do better than the path we looked to be on."</div>
<div class="image-graph"> </div>
<div class="image-graph">To read Philip Lowe's full speech at CEDA, <a href="https://www.rba.gov.au/speeches/2019/sp-gov-2019-06-20" target="_blank">click here</a>.</div>
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The labour market is fundamental to the RBA's three key objectives: RBA Governor Philip Lowe

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<p>A large industrial infill development site in Brisbane’s south has changed hands in an off-market transaction. </p>
<p>The 91,776 sqm corner allotment at 425-479 Freeman Road in the heart of Richlands was bought by the Dexus Australian Logistics Trust (DALT) for $26.5 million. </p>
<p>Greg Russell of Knight Frank negotiated the sale on behalf of the property owner, fund manager Heathley Asset Management Limited. </p>
<p>He said major institutional owners were scouring the market for land opportunities, with the availability of sites currently scarce.  </p>
<p>“This particular site was attractive to developers due to the scarcity of such sites, as well as its location close to the Centenary Highway and Ipswich Motorway, which will be attractive to future and potential tenants."</p>
<p>“It also has significant road frontage in excess of 640 metres, providing future tenants with fantastic exposure.” </p>
<p>Mr Russell saidvthere is a shortage of A-grade opportunities within the precinct, with the adjacent Drive Industrial Estate, owned by Dexus Wholesale Property Fund, completed in 2015 and fully leased. </p>
<p>The Richlands property is comprised of five adjoining, separately titled lots, with areas ranging from around one hectare to just over four hectares. </p>
<p>DALT is a circa $2 billion unlisted trust that invests in Australian logistics properties. The trust plans to construct a 55,000 sqm facility on the site, with a flexible design to suit varying tenancy sizes. </p>
<p>Mr Russell said the sale of the Richlands property was a strong reflection of the appetite from major institutions for well-located infill sites to accommodate their development pipelines and ultimately lead to the growth of their industrial sector holdings. </p>
<p>“There is a dearth of core investment opportunities, hence development opportunities are filling the void and creating a new level of investment-grade product, including 14.7 metre internal clearances, solar power, LED lighting and super awnings inter alia,” he concluded.</p>
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Brisbane industrial infill site snapped up off market

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<p>A private investment group has listed one of the first premium grade healthcare offerings in Mornington in two years.  </p>
<p>Recently refurbished, the property sits within the centre of the Mornington healthcare hub. </p>
<p>CBRE agents Josh Twelftree, Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto have been exclusively appointed to negotiate the sale, following a generous track record of success along Melbourne’s coast. </p>
<p>Mr Twelftree noted, “The property’s Beleura Hill medical precinct location is a relatively tightly held pocket in the area.” </p>
<p>“Less than 1km from Beleura Private Hospital, Bays Hospital and Mornington Centre – Peninsula Health, it’s a real medical hotspot – benefiting from strong cross flow demand in the region.”  </p>
<p><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/2019/6/20/1050_Nepean_LifeStyle036.jpg" alt=""></p>
<p>The 635 sqm landholding features a medium-term lease to beauty clinician Jo Hannah of Hannah Aesthetics, former CEO of ASX listed Total Face Group, offering a passing income of $90,000 per annum. </p>
<p>1050 Nepean Highway will be sold via public auction on July 13.</p>
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Rare refurbished medical property offered in Mornington

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<p>A historic complex in the suburb of Riverstone has just been listed with $1.5 million hopes.  </p>
<p>Originally built in 1985, <a id="LPlnk313152" href="https://www.starrpartners.com.au/property-Commercial-NSW-Riverstone-20247803" target="_blank" data-auth="NotApplicable"><span lang="en-US">16 Wealtheasy Street, Riverstone</span></a><strong> </strong><span lang="en-US">is home to the Saint Mary of Cherso (SMOC) Association – a not-for-profit association and function centre.</span></p>
<p><span lang="en-US">SMOC was established in the 50’s to cater for the waves of European immigrants arriving in Australia, especially in Blacktown.</span> </p>
<p><span lang="en-US">As a cultural club and community icon, it was the decision of the SMOC Association to donate 100 per cent of the sale of the premises to charity, including</span> The Cancer Council, The Sydney Children’s Hospital, the Heart Foundation and St Vincent de Paul society, among other beneficiaries.  </p>
<p><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/2019/6/20/riverstone%202.jpg" alt=""></p>
<p><span lang="en-AU">A spokesperson for the community </span>said, “w<span lang="en-US">ith many of the original members having passed away, or now in their twilight years, it was the decision of the SMOC community that no member will personally benefit financially from the club. </span></p>
<p><span lang="en-US">As a result, the decision was made to sell the premises, with 100 per cent of the proceeds to be donated to worthwhile charities, to further benefit the community.”</span></p>
<p><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/2019/6/20/riverstone%203.jpg" alt=""></p>
<p>Starr Partners sales agent, John Kelly said, “as a fully licensed venue with two functioning commercial kitchens, a servery bar, a stage with a PA system, and a ‘Hall of fame’ board, it is the hope of the committee members that the club premises will remain a community centre in some form."</p>
<p>“Situated in the nascent Blacktown City region, wherein billions have been spent on master-planned developments and infrastructure projects, such as the nearby Marsden Park Business Hub, there’s great potential for future development of this land,” Kelly concluded. </p>
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