<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

"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. ​

"We've lived here before… everything is here," Chris said.

"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."

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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.

<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.

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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.

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.

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.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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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.

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.

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.

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.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

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.

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.

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.

[smartcode_project:default project_id=151921 project_image_fid=370263]

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.

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.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

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.

[smartcode_project:default project_id=151921 project_image_fid=367810]

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.

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.

“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.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

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.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

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.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

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.

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.

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.

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.

<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" />

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.

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.

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.

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.

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.

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

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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An inner-city warehouse at South Yarra in Melbourne’s inner east, scheduled for April 4 auction, now has a $3.3 million asking price.
Located directly opposite the Como Centre and Vogue Plaza the 56 River Street property, comprises a single level, 235 square metre brick building on a 324 square metre site zoned Activity Centre 1.
It has street and laneway access as well as on-site parking.
According to marketing agents, Teska Carson’s Luke Bisset and Matthew Feld, the property offers an owner-occupier opportunity and/or office conversion or development opportunity.
"The purpose of Activity Centre zoning is to encourage a mixture of uses and the intensive development of the activity centre as a focus for business, shopping, working, housing, leisure, transport and community facilities, and to deliver a diversity of housing at higher densities to make optimum use of the facilities and services," the agents said.
The property will be sold subject to a short term lease at $50,000 per annum net. 
The warehouse sold for $3.75 million through Teska Carson in 2016 to an intending owner-occupier reflecting $10,135 a square metre.
It has been offered by the Williams family from South Yarra.
The family is headed by Lyn Williams, who has managed the estate of the artist Fred Williams, and is executive director of Maraquita Pty Ltd, the family company.
Opposite the Como Centre, the 56 River St property is a 250 square metre building on 371 square metres, with two frontages and on-site parking.
At the time the premises had a short-term tenant returning $44,950 a year.
It had sold at $82,000 in 1977.
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Loss likely on South Yarra warehouse 

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Hong Kong based, Compass Offices, a serviced office and co-working space provider, has announced the opening of it's new Barangaroo business centre.
The new business centre is at the 21st floor of the Symantec Building, located at 207 Kent Street.
A short walk from the Barangaroo Waterfront, this office building gives businesses a number options from open plan workstations to private offices in all sizes.
The Compass Offices Barangaroo site is located near King Street Wharf and Darling Harbour with many of the external offices providing views of Darling Harbour, the Barangaroo Waterfront, and the Sydney Harbour Bridge.
It is a three minute walk to Wynyard Train Station.
“To meet the ever-evolving needs of burgeoning businesses, our hybrid workspaces combine an open and inviting business-casual habitat within a professional and corporate environment,” says Hans Leijten, CEO of Compass Offices.
“We are very happy to see our sixth centre opening in the Australian market. We continue to expand this innovative concept to further locations, thus making it available to even more businesses,” he concluded.
 
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Compass Offices expands to Barangaroo

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A City of Sydney owned asset, located at 73-75 William Street Darlinghurst, has been offered to the market.
Located close to Hyde Park on the city fringe, the three level, 908 sqm building is currently unoccupied and zoned B4 mixed-use.
Miron Solomons, Matt Pontey and Nick Lumley of Colliers International are managing the sales campaign. 
 “This building is a complete blank canvas, which will undoubtedly attract interest from developers, investors, value-add specialists and owner-occupiers alike. We are likely to see interest from businesses such as restaurants, boutique hotels, co-working spaces or even a corporate HQ for a medium to large firm,” said Miron Solomons, National Director, Investment Services at Colliers International. 
Matt Pontey, Manager, Investment Services added “This is a value-add proposition; specialists will be attracted to this well-located, quality asset.” 
“There is strong demand for commercial property in the city fringe, evidenced by the sale of Watters Gallery which we sold at auction two weeks ago for $5.5 million.” 
73-75 William Street, Darlinghurst is for sale via and expressions of interest campaign closing May 13.
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City of Sydney selling Darlinghurst building

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Australian Unity has appointed Chris Burnell to the role of portfolio manager for its $1.57 billion healthcare property trust (HPT).
Mr Burnell (pictured below) joins Australian Unity from Vicinity Centres where he was the finance manager – planning and analysis and previously acting financial controller for its wholesale funds business.
Mr Chris Smith, head of healthcare property at Australian Unity said Chris’s proven track record in financial management for multi-billion dollar investment funds and his valuable contribution to the delivery of business strategy are both skills that will support HPT in its next phase of growth.
Mr Burnell said he was attracted to the role at Australian Unity because of the organisation’s mutual not shareholder structure, its long-term focus and HPT’s long and impressive track record.
<img src="https://www.urban.com.au/images/2019/4/8/CB_headshot.png" alt="">
Prior to Vicinity, Mr Burnell was fund accountant for Colonial First State Global Asset Management. He is a member of the Chartered Accountants Australia and New Zealand and holds a Bachelor of Business in Accounting and Finance from the University of Technology, Sydney.
Mr Burnell commenced in the role on 8 April 2019.
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Australian Unity appoints Chris Burnell to manage healthcare property trust

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The first business signed the lease to their new purpose-built facility in Aura Business Park.
Situated at 1/22 Hancock Way, the 295 sqm property, was leased to local business Auramotive Mechanical Solutions, and they signed a tenancy term of 3 + 3 years.   The asset was marketed and leased by Ray White Commercial Northern Corridor Group’s Sales and Leasing Executive Jordan Hayes and Commercial Principal Michael Shadforth.   Mr Hayes said the tenant had such confidence in the future growth of Aura and the business it will bring, that he changed his trading name to Auramotive Mechanical Solutions, a year before the park even opened.   “The functional layout and ability to customise certain inclusions were the key factors that made this the building of choice for the lessee,” he said.
<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/2019/3/19/180366-Lot1148-View01.jpg" alt="">
“Activity is evident across the business park with eight buildings now under construction. “This is set to increase considerably with 25 of the 30 lots in stage one sold and over half of stage two’s 33 lots already under contract.” 
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First lease signed at Aura business park

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A fully-tenanted standalone Coolum commercial asset has sold for $1.1 million.
Ray White Commercial Noosa and Sunshine Coast North Property Consultant Tracey Ryan, held the listing for the building.
Situated at 12 Williams Street, the purchaser was a local investor.
<img src="https://f.datasrvr.com/f1/419/45945/Coolum_22.JPG">
The property, which comes with a 358 sqm building area and 620 sqm site area, is currently occupied by Coolum Wellness Hub, Rory Williamson School of Dance and Evolve Fitness.
Ms Ryan said the exceptional standalone building was in the heart of Coolum Beach’s retail professional services area and was opposite the proposed new 43-townhouse Allura development.
“The asset was originally purpose-built for an owner-occupier and comes as two-levels, with off-street parking and a goods lift, with the possibility of being converted to passenger,” she said.
“The three offices include air-conditioning and individual amenities. The level one spaces could be reconfigured to suit a variety of businesses, including medical, if the lift was converted." “All businesses are long-standing, were sold with 3+3-year leases in place, and delivers $71,000* net return p.a." “The long-term owner was looking to liquidate the asset and relocate to Brisbane. The local investor was looking for a standalone with strong leases in place and an upside,” Ms Ryan concluded.
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Fully tenanted Coolum commercial building sold for $1.1 million

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Woolworths has increased its lead as Australia’s top grocery retailer increasing its share of Australia’s total grocery market to 34% in 2018, up 1.4ppts from a year ago according to Roy Morgan’s latest survey data.
Their data showed, while Woolworths increased its market share the newly independent Coles now has a share of 27.6% of the total grocery market down 1.6ppts on a year ago.
 German supermarket chain Aldi has grown its market share to 11.4%, up 0.5ppts from a year ago.
Other Supermarkets outside the ‘big four’ such as 2018 Foodland, Foodworks and others increased their share of the total grocery market to 9.1% (up 1.2ppts) while IGA’s grocery share was down 0.4ppts to 7.1%.
Total grocery market – % market share 2017 cf. 2018
<a href="https://www.propertyobserver.com.au/images/2019/4/8/MARKET%20SHARE%20.png" target="_blank">Click here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/4/8/MARKET%20SHARE%20.png" alt="">
 
Source: Roy Morgan Single Source. 
Michele Levine, Roy Morgan CEO, commented that the impressive performance of Woolworths over the last year has Australia’s leading grocery retailer in a strong position to deal with the entry of German ‘hypermarket’ Kaufland into Australia’s $100 billion+ grocery market:
“Australia’s leading supermarket chain Woolworths has increased its lead in Australia’s increasingly competitive grocery market in 2018 now capturing over a third of Australia’s total grocery spend in 2018 – up 1.4ppts to 34% from a year ago."
“The successful year for Woolworths has been built upon strong performances across the four key categories of fresh food. Woolworths has grown its market share in dollar terms for fresh meat, fresh deli, fresh bread and also fresh fruit and vegetables and is the market leader in all four categories ahead of main rival Coles."
“The demerger of Coles Group from industrial conglomerate Wesfarmers in the December quarter of 2018 means Australia’s second largest supermarket chain now has the opportunity to refocus on its core business ahead of the imminent arrival of German retailer Kaufland."
“Kaufland has already bought six industrial sites in Melbourne at which it plans to open its successful ‘hypermarkets’ over the next two years before rolling out stores Australia-wide following in the footsteps of fellow German retailer Aldi. Aldi also had a good year in 2018 and grew its share of the total grocery market by 0.5ppts to a new high of 11.4%."
“In addition to Kaufland the Australian grocery market is also anticipating a rollout of the ‘Amazon Fresh’ brand in the near future after the American Internet giant launched a food and grocery segment (although not yet fresh food) in the December quarter 2018."
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Woolworths grew grocery market share to 34% 2018: Roy Morgan

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Melbourne City Mission, Melbourne Melbourne’s oldest charity organisation, has continued to expand, leasing a whole floor in the Victory Tower.
Fitzroys agents Stephen Land and Sam Friend negotiated the five-year lease with a three year option over 393 sqm on Level 10 of Victory Tower, at $175,000 per annum plus GST on behalf of a private Melbourne-based landlord.
Melbourne City Mission said they intend to sub-lease part of the floor to Youth Law, another not-for-profit group they are co-locating with.
The lease comes just weeks before Melbourne City Mission opens its new $8 million crisis accommodation and homeless support centre on King Street in the CBD, which will be Victoria’s largest.
Stephen land said, “The premises contained existing workstations and chairs, and a recent upgrade that included new carpet, paint and kitchenette made the office desirable to prospective tenants that were looking to occupy an office with minimal work involved."
“Landlords are benefiting from the race to secure sub-500 sqm tenancies across the Melbourne CBD, as operators across a range of industries increasingly look to secure a city address.” 
“These major developments have prompted a broadening range of tenant enquiry in this part of the city. Operators want to be among the enhanced lifestyle, food and beverage offerings in the area that have been spurred by the booming worker population,” Land concluded.
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Melbourne City Mission begin lease in Victory Tower

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The weekly ANZ-Roy Morgan consumer confidence rating fell by 1.3 per cent after rising by 2.6 per cent in the previous week (the biggest increase in 7½ months). 
Number of home loans: The value of lending to households rose by 2.6 per cent in February after falling 2.4 per cent in January. 
First-home buyers: In seasonally-adjusted terms, the share of first-home buyers in the home lending market hit 6-year highs of 27.1 per cent in February.
The consumer confidence figures have implications for retailers, and other consumer-focussed businesses.
The lending figures have implications for builders, housing-reliant businesses, finance providers, retailers, and companies dependent on consumer and business spending.
 What does it all mean?
Consumer confidence can be over-analysed. Sentiment apparently fell last week after rising in the previous week. Overall, however, confidence is above the lows recorded a month ago and still above longer-term averages. Interest rates remain stable as does the Aussie dollar, and while tax cuts lie ahead, home prices are still falling in Sydney and Melbourne. So consumers remain cautiously optimistic. Generally people feel good about the economy and the outlook for their finances but aren’t feeling especially rich at present and thus in no mood to spend up big. 
After falling almost 9 per cent in the prior three months, loans to households rose 2.6 per cent in February. Owner-occupier home loans, investment home loans, refinancing and personal loans all bounced in the month. And topping the good news is that the share of first-home buyers in the market is holding near 6-year highs. Lower home prices are certainly being embraced by one group of Aussies. What do the figures show? Consumer Sentiment
The weekly ANZ-Roy Morgan consumer confidence rating fell by 1.3 per cent to 113.2 points after rising by 2.6 per cent in the previous week (the biggest increase in 7½ months). Consumer sentiment is above the longer term average of 113.1 points since 1990. 
 Three out of the five major components of the index rose last week: 
The estimate of family finances compared with a year ago was down from +5.0 points to +3.2 points; 
The estimate of family finances over the next year was up from +20.7 points to +22.8 points;  Economic conditions over the next 12 months was up from +7.0 points to +7.7 points; 
Economic conditions over the next 5 years was up April 9 2019 2 Economic Insights: First-home buyer activity at 6-year high from +10.7 points to +11.6 points; 
The measure of whether it was a good time to buy a major household item was down from +30.2 points to +20.6 points. 
The measure of inflation expectations rose from a record low of 3.6 per cent to 4.3 per cent. Lending 
The Australian Bureau of Statistics reported: “In seasonally adjusted terms, lending commitments to households rose 2.6 per cent in February 2019, driven by new lending for owner occupier dwellings (up 3.4 per cent). There were also rises for lending to households for refinancing (2.6 per cent), investment dwellings (0.9 per cent) and personal finance (0.4 per cent).The February rise in lending to households follows a 2.3 per cent fall in January 2019.
In seasonally adjusted terms, the value of new lending commitments for owner occupier dwellings is down 13.9 per cent from February 2018 and the value of new lending commitments for investment dwellings is down 29.1 per cent from February 2018. 
In trend terms, lending commitments for owner occupier dwellings fell 1.0 per cent and investment dwellings fell 2.2 per cent in February 2019. 
The number of lending commitments made to owner occupier first home buyers (seasonally adjusted) rose 1.8 per cent in February 2019. This outpaced the growth in the number of lending commitments made to non-first home buyers (up 1.6 per cent).
In trend terms, lending to businesses fell 2.4 per cent in February and is down 3.3 per cent from February 2018.” 
The share of first home buyers (excluding refinancing) rose from 26.8 per cent to 27.1 per cent in seasonally adjusted terms in February, a 6-year high.
Excluding refinancing, the number of owner-occupier home loans across States &amp; territories were: NSW (-8.2 per cent); Victoria (+1.5 per cent); Queensland (+4.1 per cent); South Australia -1.2 per cent); Western Australia (- 1.2 per cent); Tasmania (+6.2 per cent); NT (+14.2 per cent); ACT (+7.4 per cent). 
Fixed-rate home loans accounted for 16.2 per cent of all owner-occupier loans in February (5-month low), down from 16.6 per cent in December. 
 What are the implications for interest rates and investors?
 Retailers must provide a unique proposition in the current environment in order to get cautious consumers to part April 9 2019 3 Economic Insights: First-home buyer activity at 6-year high with cash. 
Is home lending starting to stabilise after recent weakness? It is early days, but the lift in lending in February is encouraging. The softer home prices are certainly bring more first home buyers into the market. Rising home prices aren’t unambiguously positive. Neither are falling prices unambiguously negative. Rather price changes reflect a rebalancing of supply and demand. And that rebalancing continues, especially in Sydney and Melbourne. The falling home prices certainly are being embraced by first home buyers. And lower home prices, give cashedup buyers more choice if loan size doesn’t change. 
Interestingly, while NSW home prices have retreated 9.5 per cent on a year ago, the average home loan is down only 1.6 per cent. Home buyers haven’t cut back on loan size, rather they have arguably access to a greater range of properties. 
CommSec expects interest rates to be unchanged for the foreseeable future. But the loss of momentum across global economies means central banks are skewed to more accommodative monetary policies.
CRAIG JAMES is the Chief Economist at CommSec
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First-home buyer activity at 6-year high: CommSec's Craig James

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EXPERT OBSERVER
The recent release of SQM’s research is the latest in a series of economic modelling critical of Labor’s housing tax policy to increase capital gains tax and restrict negative gearing.
Previous research commissioned by Master Builders Australia has shown that the ALP’s policies would result in an up to 42,000 reduction in new home building activity.
Given the indications of weaker than expected economic growth this is the exactly the wrong time to be discouraging investment in housing. All current incentives should be kept on the table.
Instead of just saying ‘No We Can’t’, Labor needs to stop fobbing off and ignoring legitimate questions about the impact of its housing tax policy and rethink their policies
Housing market conditions are already in sharp decline – unfavourable policy changes would make things even worse. Even in the absence of NG/CGT changes, new home building starts are likely to decline from over 230,000 to about 175,000 over the next couple of years.
Labor continues to argue that ‘grandfathering’ will neutralise any negative impact of their policies and protect against future shocks to the housing market but the evidence we do have from the Hawke-Keating era and Cadence Economics modelling is that there will be negative impacts on the housing market regardless.
For example, the investment potential of grandfathered assets will be undervalued because all subsequent owners will have a 50% tax increase on their investment.
Treasury analysis (FOI 1876) that Labor quotes in support of its policies suggests that Labor’s policies to increase capital gain tax could compound upon a cyclical downturn in the housing market that may be underway.
All this amounts to a compelling need for Labor to consider the impact of its policies to increase capital tax and restrict negative gearing before the next federal election.
Master Builders also restates that Labor conceived this policy in booming housing market – this is no longer the case. House prices have fallen by at least 15% in Sydney, Melbourne and Perth while new dwelling approvals and lending volumes are driving lower at some pace.
DENITA WAWN is the Chief Executive of Master Builders Australia
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The inflation result the property market was waiting for

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