<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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Not too many surprises in the Treasurer's 2019 Federal Budget, then.
Tax cuts for households were effectively doubled from around $150 billion to about $300 billion, in rounded numbers. 
Quite a substantial saving of tax for households was mooted to be released in stages, and more Aussies eventually set to be paying tax at 30%.
There were some more immediate handouts, something of a boost to infrastructure spending, and a broadening of the scope for business asset write-offs.
Nothing too unexpected nor dramatic, but an expansionary Budget nonetheless. 
Rentals tightening ex-Sydney
Assuming the Opposition wins the election, as is widely expected, there may be changes to tax policy for housing. 
But although this hasn't showed up in official data yet, the squeeze on property investors is now quietly beginning to hurt some of the people Labor's policy is designed to help, most notably renters.
I'd suspected this might happen, but had no worthwhile evidence for it until this week.
I've been in Melbourne for a few days, and agents are now reporting queues and multiple applications on some rental properties, and offers being made above asking rents prior to settlement for entrant landlords.
This is mainly taking place in the landlocked inner- and middle ring suburbs of Melbourne.
And granted it's far more so the case for trendy terraces and family homes than it is for apartments. 
But it's the first hard evidence that a reduced supply of rental stock will eventually lead to an accommodation shortage and a spike in rents, with or without Labor's proposed changes. 
The construction pipeline is also now shrinking after a record cycle for housing starts. 
Fixed rates falling
Affordability in cities such as Sydney has improved over more than two years since the first quarter of 2017, with transactions taking place at a level about 15% lower than at the heady peak, on average, while incomes are also up modestly by about 5% over the past couple of years. 
Unemployment rates in the two most populous cities and states have fallen to multi-decade lows at about 4 to 5%. 
Funding costs have eased suddenly and sharply, globally the upwards pressure on interest rates has quickly reversed, and fixed mortgage rates in Australia are now falling. 
Yesterday the Reserve Bank took a "surprising and significant step" towards a formal or explicit easing bias after a couple of years in a more balanced position, through amending the closing sentence of its monetary policy decision to a more dovish stance. 
That paves the way for an interest rate cut some time between May and August, with another to follow later (markets are pricing about a three in 10 chance of a cut as soon as next month). 
We aren't quite there yet, but the end of the downturn in housing market sentiment appears to be closer.
An official cash rate heading towards 1% will do that, of course, even when banks don't pass on the full 50 basis points. 
Perhaps more important than all of the above is that there are some tentative signs of lending to investors picking up.
And if leading indicators are our thing, all industry participants I've spoken over the past week or two have reported a noticeable lift in activity of late...especially on the 'buy side'. 
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. 
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pwargent-M4siyDbqQY

End of housing downturn draws closer: Pete Wargent

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EXPERT OBSERVATION
White collar has driven employment gains but the surge in construction broke a 20yr downtrend for metal manufacturing employment.
<ul>
<li>In the year to February 2019, total employment grew 284k or 2.3% which is explained by the expansion of white collar employment and the lion share of this occurred in NSW and Victoria. Of the remaining sectors, the loss of employment in construction and manufacturing sectors was offset by modest gains in leisure &amp; hospitality with some help from smaller gains in retail, education and health.</li>
<li>White collar employment was boosted by solid gains in public administration &amp; safety (118.2k) and professional, scientific &amp; technical services (93.4k). The gains in leisure &amp; hospitality sectors was split between accommodation &amp; food services (+29.7k) and other household services (+43k).</li>
<li>Flat employment in education &amp; health hides losses of –36k in NSW and –31.5k in WA which were offset by growth in Victoria (44.5k) and Queensland (30.9k).</li>
<li>Goods production sector employment declined 41.6k due to a collapse in manufacturing employment (-63.7k) only partly offset by gains in mining (+16.7k) and agriculture (+10.5k).  </li>
<li>Construction had been a significant positive for employment with its share of total employment hitting a record high of 9.6% in 2018 Q1. But through the year it eased to 9.0% with the decline in construction employment making a –0.4ppt drag on annual total employment growth (total ex-construction was +2.7ppt contribution/total 2.3%yr).</li>
<li>The correction in construction has been focused in NSW and WA with most job losses occurring in construction services. At this stage, building and heavy engineering appear to be peaking, rather than correcting, but these sectors tend to lag the services involved with establishing a construction project.</li>
<li>Manufacturing dependent on construction expanded employment in 2018, breaking a longer-term down trend. While public infrastructure should support steel demand, at least for the near term, growth is likely to be somewhat less than it has been.</li>
</ul>
In the year to February, white collar employment explained just about all of the 282k growth in employment. We define white collar employment as those employees in finance, real estate &amp; hiring services, professional, scientific &amp; technical services, other business services and government services.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%201.jpg">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%201.jpg" alt="">
Source: Westpac
Household services (accommodation &amp; food services, education &amp; training, health care &amp; social assistance and arts &amp; recreation) has been the powerhouse of employment growth for some time (see chart over) but in the last year there has been a shift of focus with households services employment slowing to 1.7%yr contributing just 0.6ppt to the annual pace of total employment growth.
Meanwhile, business services (information, media and telecommunications, finance &amp; insurance services, rental, hiring &amp; real estate, professional, scientific &amp; technical and administrative support services) employment growth accelerated to 5.2%yr contributing 1.0ppt to annual total employment growth but the big surge came from the 23.5%yr lift in government employment contributing 1.3ppt to the 2.3%yr pace in total employment.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%202.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%202.jpg" alt="">
Source: Westpac 
Looking at the state data highlights where the big swings have occurred. In NSW employment gains were driven by leisure &amp; hospitality and white collar while education &amp; health plus construction were the main drags on employment. There was surge in employment from public administration &amp; safety (+83.5k in the year) and professional, scientific &amp; technical services added 58.9k; both of these are white collar and business services sectors.
Accommodation &amp; food services (household services) added a healthy 40.6k but from there it was a drop to +26.7k from agriculture, forestry &amp; fishing (production sector). Leading the decline in NSW employment was –33.5k from construction (production sector) and education &amp; training surprised with a 30.4k decline (household services) and manufacturing shed 19.9k (production sector).
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%203.jpg">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%203.jpg" alt="">
 
Source: Westpac
Contrast this with Victoria where education &amp; health plus white collar employment drove the gains. In the year to February total employment grew more in Victoria than NSW (132.7k vs. 120.3k in the year) and at the same time the distribution amongst the sectors was a bit more even. Public administration &amp; safety led the charge in Victoria but the 39.7k gain was somewhat smaller than the gain by this sector in NSW (+83.5k).
Victorian healthcare &amp; social assistance (household sector) added 35k employees where as it contracted –4.2k in NSW, professional, scientific &amp; technical employment lifted 23.1k in Victoria and while public administration surged in NSW it grew a more modest 21.8k in Victoria.
Leading the decline in Victoria was the –23.0k in accommodation &amp; food services employment while manufacturing shed 14.3k employees and retail trade (household sector) was not much better at –12.7k. Victorian construction employment was a bit better than NSW at –9.2k (vs. –33.5k in NSW) full-time construction employment rose 6.4k in Victoria compared to –31.8k in NSW suggesting NSW appears to have entered a more protracted construction downturn as hours worked there appear to be more tightly managed.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%204.jpg" target="_blank">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%204.jpg" alt="">
Source: Westpac
For Queensland, just about all of the gains in employment can be put down to household services and, in particular, government employment or sectors funded by governments. Education &amp; training made the largest contribution (+17.6k) but public administration &amp; safety almost matched its contribution (+17.2k) while healthcare &amp; social assistance was not far behind (+14.7k) and information, media &amp; telecommunications made a healthy contribution (12.8k). The key drag in the year was manufacturing (–35.0k), retail trade (–23.3k) and administration &amp; support services (–12.9k). All up white collar employment was positive (+19.5k) adding to the 30.9k gain in education &amp; health and a sound 17.4k contribution from leisure &amp; hospitality more than offsetting the contraction in production employment (–25.7k) and retail &amp; distribution (–26.8k).
WA saw a mix in the sectors driving employment with retail &amp; wholesale gaining 30.8k while white collar employment lifted 29.5k in the year (+16.9k professional, scientific &amp; technology, +15.3 public administration &amp; safety and +9.5k other services more than offsetting the 12.6k loss in arts &amp; recreation and –4.9k in financial services). Mining was also positive (+8.1k) but declines in manufacturing and agriculture (–1.8k and –7.7k respectively) led to a small decline in production manufacturing. In the year to February, education &amp; health swung to being a significant drag in WA shedding 31.5k employees while construction shed 18.2k workers over the same period of time. Manufacturing was basically flat printing +1.8k.
Looking deeper into the sectors sheds some light onto what has been driving employment growth and where the risk to the employment outlook lies.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%205.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%205.jpg" alt="">
Source: Westpac 
Construction was an important driver of employment through 2017 with gains peaking at +103.8k /9.8%yr in the year to November 2017. This represented a 0.9ppt contribution to the 3.3%yr pace in total employment growth at that time. Construction's share of total employment peaked a quarter later at 9.5% in February 2018 which was a record high for this series going back to the start of the data in late 1984.
Since then construction employment has fallen 49.2k in the year to February 2019 representing a drag of –0.4ppt on total employment growth (which printed 2.3%yr). The last time construction employment represented a meaningful drag on employment growth was back in 2012 when it contracted –61.6k in the year to August 2012 generating a drag of –0.6ppt on total employment (which printed 1.2%yr).
Given that the starting point of construction's share of total employment is now larger than it was in 2012 (the peak back then was 9.1% in August 2011) construction has the potential to have a larger drag on employment this time should the construction downturn continue to deepen and broaden out of NSW and WA where it is currently focused.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%206.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%206.jpg" alt="">
Source: Westpac 
Looking at the breakdown of the sub-sectors behind the correction in construction employment suggests the current correction could have further to run. In the year to February 2019, all of the decline in construction employment can be explained by the –66k decline in construction services. The level of employment in this sector peaked at +777.6k in February 2018 having grown 86.1k, or 12.5%, in the previous two years.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%207.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%207.jpg" alt="">
Source: Westpac
Construction services includes land development &amp; site preparation services, building structure services, building installation services, building completion services and other construction services (which we suspect includes construction contractors). A fair proportion of these services are involved with project and site preparation before construction activity starts. We would expect to see some lift from heavy, civil engineering as public works projects continue but the down turn in dwelling construction activity is going to weigh on building construction employment through 2019 and it is likely to be sometime before construction services find a base to grow from.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%208.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%208.jpg" alt="">
Source: Westpac
The impact of construction activity on employment is broader than direct construction employment. Westpac has long compiled an aggregate of sectors in manufacturing that would have a strong linkage with construction – wood products, non-metallic minerals, metal products and furniture – which represents a bit more than 30% of manufacturing employment.
Employment in these sectors had been in a trend decline since the late 1990s, as are most manufacturing sectors. During the downtrend there have been some short-run up cycles but from the August 2016 low in employment these sectors grew 29.9k to February 2019, the first sustained uptrend in employment in almost two decades. November 2016 was the recent low in construction employment share of total employment which then rose to a peak in February 2018. Manufacturing employment linked to construction activity peaked in November 2018.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/WESTPAC%209.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/WESTPAC%209.jpg" alt="">
Source: Westpac
In the last year all of the gains in manufacturing employment has been from metal products (+19.1k); all the other sectors were either flat or declining. Employment metal productions totalled 172.1k in February and if you exclude the recent run-up, employment in metal products is back to a level not seen since early 2014. Not even the mining investment boom produced a comparable lift in steel manufacturing employment indicative of just how significant the recent lift in construction activity has been for broader employment gains. By contrast transport &amp; machinery equipment employment declined 24.9k in the year to February while petroleum, chemical &amp; coal shed 21.0k workers and food, beverage &amp; tobacco has retrenched 16.7k.
Looking forward we don't expect public construction activity to peak until well into 2020 but nevertheless the pace of growth will be somewhat less than it has been. As such steel manufacturing employment should be supported but is very unlikely to be a significant contributor to employment growth going forward and as we head into 2020, it is likely to become a drag on employment.
Looking at the states, Queensland saw the biggest decline in manufacturing employment losing –18.8k employees in the year while NSW shed –7.2k, Vic lost –5.0k and WA lost –2.2k. SA added 9.6k and Tasmania gained 16.6k.
JUSTIN SMIRK is a ‎senior economist for Westpac Group
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j.ballantyne1990-6AQqhLzZaK

Australian employment gains have been in white collar industries: Justin Smirk

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A three bedroom North Booval, Qld townhouse has been listed with an asking price of $175,000.
It is described in the listing as a "perfect home base for travellers or downsizers or tenant ready investment opportunity."
Gai Flynn of First National Real Estate holds the listing.
Situated at <a href="https://www.realestate.com.au/property-townhouse-qld-north+booval-129750514" target="_blank">90/50 Gledson Street, North Booval</a> the property is made up of three bedrooms two bathrooms and a single garage.
Set on 130 sqm, every bedroom features a ceiling fans, vertical blinds and built-in robes.
Featuring a concreted alfresco outdoor plus shady shrubs for privacy.
Located withing 'The Complex' which has a swimming pool and BBQ facilities available for residents and is 1.2 kilometre to the Bundamba train station.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/north-booval-qld-4304">North Booval</a> is $279,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -3.1%.
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Three bedroom North Booval, Qld townhouse listed for mortgagee sale

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EXPERT OBSERVER
Falling property values dragging household wealth lower backed up by data from the Australian Bureau of Statistics (ABS) showed that overall household wealth fell over the final two quarters of 2018.
Total household assets were recorded at a value of $12.6 trillion at the end of 2018, while total household assets fell in value over both the September and December 2018 quarters taking household wealth -1.6% lower relative to June 2018.
<img src="https://www.urban.com.au/images/2019/4/4/CL%20PP%20Values%201.JPG" alt="">
While the value of household assets fell by -1.6% over the past two quarters, liabilities have increased by 1.5% over the same period to reach $2.4 trillion.
As a result, net household worth was recorded at $10.2 trillion; the lowest it has been since September 2017.
Based on the data from the ABS, the Reserve Bank (RBA) then calculates a number of household finance ratios.
The first metric detailed from the RBA are the ratios of household and housing debt to disposable income.
As at December 2018, household debt was 189.6% of disposable income, a record high and up from 188.7% the previous quarter.
Housing debt was also a record high 140.2% of disposable income and had risen from 139.5% the previous quarter.
While debt levels are quite high, the ratios of asset value to disposable income are much higher.
While that may be the case, it is important to understand that if asset values fall, the value of the debt typically doesn’t reduce at the same speed, which can lead to asset value erosion.
<img src="https://www.urban.com.au/images/2019/4/4/CL%20PP%20Values%202.JPG" alt="">
As at December 2018, household assets were 927.9% of disposable incomes.
This ratio has declined as property values have fallen, down from a peak of 962.1% in December 2017.
Similarly, the ratio of housing assets to disposable income is currently 495.3%, down from its peak of 529.7% in December 2017. The 495.3% figure is the lowest it has been since September 2016.
However because of a reduction in the ratio of assets to disposable income, the ratio of debt to assets is climbing.
Total household debt is now 20.4% of household assets, the highest it has been since March 2016.
Total housing debt is 28.3% of total housing assets, the highest it has been since September 2014.
Again, this reflects the fact that asset values are falling as debt increases.
<img src="https://www.urban.com.au/images/2019/4/4/CL%20PP%20Values%203.JPG" alt="">
Despite generational low official interest rates, the measures of interest payments to disposable income have risen over recent quarters and likely reflective of lenders lifting interest rates independently of any adjustment to the cash rate by the RBA.
Household interest payments represented 9.1% of household disposable income in December 2018, their highest share since September 2013.
Housing interest payments accounted for 7.6% of household disposable income in December 2018, their highest share since March 2013.
Despite the cash rate tracking at generational lows, households are paying a proportionally higher share of interest than they have in many years.
With housing values falling and expected to keep falling the ratio of assets to disposable incomes is likely to fall over the coming quarters.
<img src="https://www.urban.com.au/images/2019/4/4/CL%20PP%20Values%204.JPG" alt="">
Although most households will likely remain in a position whereby the value of their assets is significantly higher than their debt, no doubt an increasing number of recent property purchasers will have higher levels of debt than the value of their asset.
This is probably an area of most concern for the RBA. If this leads to reduced consumer expenditure an in-turn slower economic growth, it may be a trigger for either lower official interest rates or changes to mortgage lending policies (or both).
Furthermore, with household debt at record highs and households dedicating more of their income to servicing their debt at a time when interest rates are so low, and if household debt levels haven’t declined by the time interest rates rise, it could create more challenges for households.
In closing, the ABS/RBA data releases will be very important to focus on over the coming quarters.
CAMERON KUSHER is a Research Analyst for CoreLogic
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ckusher-ujnxiKuFQs

Falling property values drags household wealth lower: Cameron Kusher

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In February, the trade surplus climbed to a record high of $4.8bn, up from $4.35bn in January, eclipsing the previous record of $4.6bn in December 2016. The February result exceeded expectations (market median $3.7bn and Westpac $3.8bn).
Imports surprised to the low side, declining by 1.1%, whereas we anticipate a rise of 1.1%. A drop in fuels was the source of weakness.
Exports provided an upside surprise, increasing by 0.2% vs a forecast decline of 0.9%. Notably, the expected pull-back in gold failed to materialise.
More fundamentally, a key dynamic driving a widening of the trade surplus is the boost to export earnings from higher commodity prices, notably for iron ore and coal.  Total exports in February are 13.2% above the level of a year ago, outstripping a 4.4% rise in imports.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/TRADE%201.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/TRADE%201.jpg" alt="">
Metal ore exports (including iron ore) jumped in February, as anticipated, up by $1.0bn to $9.6bn - which is also a record high. Recall, the iron ore price leapt to US$85/t in the month as global supply was dented by the tailings dam disaster in Brazil. Iron ore is now trading close to US$90/t.
The trade surplus in the March quarter to date is running at $4.6bn a month, well up from $2.9bn per month in the December quarter. The bulk of this improvement likely reflects higher commodity prices.
The lift in commodity prices is boosting Australia's national income, which is flowing through to higher tax revenues - providing governments with additional fiscal flexibility, as evident in recent budget updates. However, despite this, wages growth remains sluggish.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/TRADE%202.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/TRADE%202.jpg" alt="">
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In February, the import bill declined by 1.1% to $35.0bn. Key to the fall was a drop in fuels, down $344mn. Imports ex fuel were broadly flat in the month, inching 0.1% lower. Similarly, for the March quarter to date relative to the December quarter, fuels are tracking sharply lower - likely a mix of lower prices and lower volumes.
<a href="https://www.propertyobserver.com.au/images/2019/4/3/TRADE%203.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/3/TRADE%203.jpg" alt="">
Export earnings inched 0.2% higher in the month of February. As noted above, metal ores (including iron ore) jumped by $1.0bn to $9.6bn, a record high - driven by rising prices. Coal fell by $0.8bn on lower volumes. For the quarter to date, export earnings are up by around 4% on the December quarter - led higher by metal ores and gold, as well as rural goods, more than offsetting a softening for coal.
ANDREW HANLAN is a senior economist for Westpac
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Australia's trade account, surplus hits record high on higher iron ore price: Andrew Hanlan

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A Port Lincoln, SA mortgagee house has been sold for $129,000.
This marks an $81,000 reduction on it's 2006 sale price of $210,000.
Luke Duncan of Kemp Real Estate held the listing.
Situated at <a href="https://www.domain.com.au/1-duncan-avenue-port-lincoln-sa-5606-2014967856" target="_blank">1 Duncan Avenue, Port Lincoln</a> the property is a three bedroom one bathroom house.
Set on 1,037 sqq, the house sold on March 21 2019.
Positioned on a corner allotment, the dwelling features "plenty of shedding" and a fully fenced yard.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/port-lincoln-sa-5606">Port Lincoln</a> is $303,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 1.1%.
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Port Lincoln, SA mortgagee house sold for $81,000 loss

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A Port Lincoln, SA mortgagee house has sold for $139,000.
This is a reduction of $94,000 on its 2008 sale price of $233,000.
Luke Duncan of Kemp Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-port+lincoln-130334538" target="_blank">12 Kinmont Avenue</a>, the property is a three bedroom one bathroom house.
Set on 803 sqm the house was built in 1972.
The house features a timber deck with views over the township and ocean, plus it has a fenced backyard.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/port-lincoln-sa-5606">Port Lincoln, SA</a> is $303,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 1.1%.
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Port Lincoln, SA mortgagee house sold for $94,000 loss

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EXPERT OBSERVATION
While the budget speech referenced housing a few times, in the sense that falling housing prices represent a downside risk to budget forecasts, there was in fact very little in the budget directly focussed on the housing sector. With the performance of the housing and household sector so critical to the Government achieving their forecasts and planned surplus, there is certainly an argument that more could have been provided in the budget to support these sectors.
<ul>
<li>The Government expects wages to rise only modestly, with growth forecast to rise from 2.1% to 2.5% in 2018/19 before ticking higher to 2.75% in 2019/20, supported by lower unemployment and jobs growth of around 2% per annum. Based on these forecasts, and their potential to undershoot as they have over previous years, we can’t rely on a material improvement in household incomes to boost spending and stave off a higher rate of saving.</li>
<li>On the positive side, household income and consumption should find some support from personal income tax cuts for low to middle income workers (those earning $126,000 or less) and cost of living relief to pensioners. With income growth slow additional cash in people’s pockets each week is positive and could be moderately stimulatory from a consumer expenditure perspective. For example, those that earn between $48,001 and $90,000 will gain an additional $1,080 over a year.</li>
<li>The Treasurer reiterated that housing affordability was a key priority for the Government, but it looks like the Government is content to see housing affordability improve ‘organically’ via lower housing prices that could act as a contagion to weaker household consumption and a sharper than expected fall in residential construction. While this may seems a bit passive, it’s clear that housing affordability has improved substantially since the last budget due to lower housing values in the most expensive cities as well as the lowest mortgage rates since the 1960s and a subtle rise in incomes. </li>
</ul>
Arguably, the state and local governments have more ability to tackle housing affordability than the federal government, with factors such as stamp duty payments, allocation of the first home buyers grant, land release, development charges and town planning all falling outside of the federal government arena. 
Perhaps the most substantial area of the budget related to housing is a reiteration of the strong infrastructure spend and the City Deals, which will provide stimulus for specific regions of the country and help to cushion the downturn in residential construction. 
Infrastructure spending is up 25% on last year, with a record level $100 billion spend over the next ten years. While the allocation of this spend is short on detail (likely to be trickle fed to the market via election announcements), it seems much will be dedicated to improving transport infrastructure in an effort to ease congestion and better manage population growth. Major projects included funding of $2 billion for the fast rail between Melbourne and Geelong, a quadrupling of the urban congestion fund to $4 billion and detailed assessments for additional fast rail corridors. These additional fast rail corridors are: Sydney to Wollongong, Sydney to Parkes, Melbourne to Albury/Wodonga, Melbourne to Traralgon and Brisbane to the Gold Coast. Sticking with a public transport theme, the Budget committed $500 million from the Urban Congestion Fund to provide better park and ride facilities.
The City Deals are nothing new, however the budget reaffirms commitment of $5.7 billion of funding delivered in Townsville, Launceston, Western Sydney, Darwin, Hobart, Geelong and Adelaide, as well as the announcement of a recent deal for South East Queensland. The Government has also announced a roll out of regional deals for Barkley NT, Hinkler Qld and Albury Wodonga NSW/Vic.
No doubt the strong infrastructure spend and investment in improving the key areas of Australia’s cities will be stimulatory for housing markets that benefit from the improvements. Tackling congestion and improving access to essential amenities should indirectly support housing affordability by making the most affordable regions of the cities more accessible and liveable. Questions remain as to whether $100 billion is actually enough to tackle the infrastructure deficit however, expenditure up materially which is encouraging.
Overall, the Budget didn’t really focus on housing however, some of the associated issues such as household incomes and infrastructure investment are being addressed which is positive to see.
TIM LAWLESS heads up the CoreLogic RP Data research and analytics team and can be contacted<a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank"> here.</a>
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What does the budget mean for Australia’s housing sector? CoreLogic's Tim Lawless

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GUEST OBSERVATION
There’s no shortage of talk about house prices. How much further will they fall? When will the market stabilise? Is it time to get in? 
What we know is national capital city dwelling prices have fallen 6.8% since peaking in October 2017, led by Sydney and Melbourne following strong prior price booms. 
But how much has affordability actually improved? 
It’s an important question, not just for potential buyers and nervous sellers. That’s because with the price adjustment in Sydney and Melbourne continuing and demand from property investors unlikely to return soon, an eventual stabilisation of the market depends heavily on the response of owner occupiers to improving affordability – and it seems there’s more to do to generate a lift in demand. 
There is little doubt that housing affordability and consumer sentiment towards housing are closely linked. Our previous research established a particularly close relationship between the “time to buy a dwelling” index and an affordability measure that incorporates both deposit requirements and mortgage repayments.<img src="https://www.westpac.com.au/content/dam/public/wbc/news/images/article/2019/03/TimetoBuy%20(002).png" style="font-size: 12.16px;">
<a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/February/WestpacHousingPulseFebruary2019.pdf" data-s-object-id="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/australia/2019/february/westpachous_1">Latest readings on both measures show</a> buyer sentiment lifting a little in response to some easing in affordability pressures, although the gap to long run averages indicates affordability is still not back to “normal”. After hitting a seven-year high of 23.3% in late 2017, the proportion of average household income required to finance the purchase of a median priced dwelling has declined to just below 22% in early 2019 to be near the levels seen in late 2016. 
That’s partly because many factors feed into affordability with price moves, mortgage rates and incomes key. 
In other periods of price corrections, namely the late 1980s and early 1990s, the GFC and the 2011–13 interest rate tightening cycle, falling rates and income growth helped restore affordability.
In contrast, this adjustment is expected to see much less assistance from rates and is occurring against a backdrop of weak income growth, implying that price declines will need to do most of the “heavy lifting” to generate an improvement in affordability. 
And there’s likely more lifting to do, even though Westpac now expects the RBA to cut rates help affordability too. 
<img src="https://www.westpac.com.au/content/dam/public/wbc/news/images/article/2019/03/AusdwellingPrices%20(002).png">
Using some indicative estimates of how much further prices may need to move by looking at the price change required to return affordability to its 20-year average points to about a further 5% decline required nationally. In NSW and Victoria, more substantive moves in the 5-10% range are likely to be required, while other states should require milder moves.
While the picture differs across cities, and between houses and units in most cases, price adjustments in the key Sydney and Melbourne markets still look to have some way to run. 
That will be disappointing for those hoping for stabilisation to emerge but will be encouraging for those looking to get into what were previously very expensive markets.
MATTHEW HASSAN is a Senior Economist for Westpac
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How much more affordable is housing now? Westpac's Matthew Hassan

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GUEST OBSERVATION
The budget just before an election seems to have a special quality: the transport infrastructure will surely be more plentiful than usual, and carefully chosen to shore up the electoral bulwarks. But don’t get too excited: this year the rhetoric may be big, but the scale of the numbers is nothing unusual. What is different is the pattern of spending over the budget’s four-year forward estimates.
The budget estimates a transport spend of A$7.4 billion for the coming year, 2019-20, and $33 billion over the forward estimates period. The 2019-20 expenditure estimate amounts to 0.37% of GDP – comparable to what we’ve seen in recent years. In fact, governments have spent between 0.26% and 0.53% of GDP under Treasurers Morrison, Hockey and Swan, and Treasurer Frydenberg is no different.
What’s particularly interesting about this budget, though, is that the treasurer is chancing his arm on the medium term.
<a href="https://images.theconversation.com/files/267093/original/file-20190402-177175-1h08ig9.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/267093/original/file-20190402-177175-1h08ig9.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Usually treasurers leave themselves some wriggle room in the outyears. They can always spend more if the cash is available, and invariably they do. Plus, it gets easier to estimate what will be spent as the time of spending draws closer.
Of course, these days much of the promised spending is further into the future than the forward estimates. The government is touting a $100 billion, ten-year <a href="https://buildingourfuture.gov.au/assets/documents/10_Year_Infrastructure_Pipeline.pdf" target="_blank">Infrastructure Investment Pipeline</a>. There’s money all over the country.
Where does the money go?
Victoria gets particularly big-ticket items in this budget, totalling $6.2 billion, and somewhat more of it within the next four years than other states. In New South Wales, the longer-term package totals $7.3 billion, including $3.5 billion for the Western Sydney north-south rail link as well as a $1.6 billion upgrade to the M1 Pacific Motorway extension to Raymond Terrace.
But if you look at what’s happening within the next four years, a notable larger item is a road safety package, totalling $400 million over four years. The longer-term goal is for this package to cost $2.2 billion.
Some of the other longer-term spending is squarely focused on rural and regional areas. This includes a billion to improve the Princes Highway in NSW, Victoria and SA.
If it all comes to pass, there’s something here for everyone.<img src="https://counter.theconversation.com/content/114597/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Marion Terrill, Transport and Cities Program Director, Grattan Institute
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/total-transport-spending-is-about-par-for-the-course-but-the-pattern-is-unusual-114597" target="_blank">original article</a>.
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