<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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CoreLogic's February Home Value Index was released today, and it's further bad reading for a majority of capital cities.
Seven of the eight capitals saw house prices slide over the month. The national median house price value slipped 0.9%.
It was only spared further declines by Hobart, the only capital not to see a price decrease. Their median house price jumped 0.9 percent in February to $489,000.
Perth and Darwin housing markets were the biggest hit over the month. They saw declines of 1.4% and 1.3%. 
Sydney and Melbourne continued their steep decline, with another 1.1% and 1.2% taken off their median house price values.
Sydney's median house price value now sits below $900,000, having seen the median value drop another $14,000 from January. Melbourne dropped $11,000 over the month.
Click here<a href="https://www.propertyobserver.com.au/images/2019/3/1/CoreLogic.jpg" target="_blank"> to enlarge</a>.
<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/2019/3/1/CoreLogic.jpg" alt=""> Source: CoreLogic
Compared to this time last year, Sydney's median house price value is over $160,000 lower, while Melbourne's has dropped by $105,000.
Since the October 2017 peak Sydney is closer to $200,000 cheaper, and are now 11.5% down annually. Last month both capital city markets were <a href="/news/melbournes-10-6-annual-house-price-slump-now-rivals-sydney-10-9-corelogic">approaching 11% declines</a> (Melbourne 10.6%, Sydney 10.9%).
Click here <a href="https://www.propertyobserver.com.au/images/2019/3/1/CoreLogic3.jpg" target="_blank">to enlarge</a>.
 <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/2019/3/1/CoreLogic3.jpg" alt=""> Source: CoreLogic
It's another decline above 1% for both the major capital city markets, the fourth straight month in a row.
Housing markets Adelaide, Canberra and Brisbane only saw small declines.
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jrobinson-rf4aSBido9

Perth and Darwin prices dip further, and Sydney sees 11.5 percent annual house decline

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GUEST OBSERVATION
Former federal trade minister Andrew Robb says he has quit his A$880,000-a-year consultancy job with Chinese-owned Landbridge Group because <a href="https://www.smh.com.au/politics/federal/andrew-robb-quits-china-linked-firm-before-foreign-interference-law-kicks-in-20190219-p50yv0" target="_blank">it didn’t have anything</a> for him do.
Former Victorian premier John Brumby says he has quit as a director of Chinese tech giant Huawei in Australia because <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-02-01/former-victorian-premier-john-brumby-resigns-from-huawei-board/10772144" target="_blank">he has too much else</a> to do.
Former federal foreign minister and ex-NSW premier Bob Carr has quit his job as director of the Australia-China Relations Institute, <a href="https://theconversation.com/the-australia-china-relations-institute-doesnt-belong-at-uts-78743" target="_blank">an organisation bankrolled by a Chinese billionaire</a> with a history of using donations to cosy up to politicians.
It might be just a coincidence that these decisions have come just days before new foreign influence transparency laws come into effect on March 1.
The new laws are supposed to make visible the “<a href="https://www.ag.gov.au/Integrity/foreign-influence-transparency-scheme/Pages/default.aspx" target="_blank">nature, level and extent</a> of foreign influence on Australia’s government and political process”. There is more than enough evidence that greater transparency is needed. But the extent to which the new rules will achieve this is questionable.
Money talks
Federal parliament passed the Foreign Influence Transparency Scheme Act (FITS) in December. The Act obliges individuals to register if they act on behalf of “foreign principals” – be they governments, government-related entities, political organisations or government-related individuals.
Failing to apply for (or renew) registration, providing false and misleading information or destroying records may lead to a prison term of up to six years for individuals and fines of A$88,200 for companies.
Registrable activities include:
<ul>
<li>parliamentary and political lobbying on behalf of a foreign principal</li>
<li>communications activities for the purpose of political or government influence</li>
<li>employment or activities of former cabinet ministers.</li>
</ul>
An example of the latter is Andrew Robb.
In February 2016 Robb resigned as federal trade minister and announced he would not recontest his seat. He left parliament in July. Three months later he had his new job, getting paid <a href="https://www.smh.com.au/politics/federal/at-528-000-a-year-turnbull-s-pay-is-highest-of-any-leader-in-oecd-20180526-p4zhp5" target="_blank">way more than the prime minister</a> as a consultant to the Landbridge Group.
It is always instructive to note the first jobs taken by politicians after they leave parliament. Those appointments generally reflect relationships already well-groomed.
Landbridge is a privately owned Chinese company, but like many Chinese companies has strong ties to the ruling Chinese Communist Party. Its substantial interests in petrochemicals and ports includes a 99-year lease over the <a href="http://theconversation.com/darwin-ports-sale-is-a-blueprint-for-chinas-future-economic-expansion-108254" target="_blank">Darwin port</a>, which is considered of strategic importance in China’s diplomatic dance with the United States.
Qualitative differences
China isn’t the only foreign power interested in having influence in Australia, of course. Historical ties have meant that Britain once dictated Australia’s foreign policy. Since World War II the United States has had almost as much power.
Now China, Australia’s largest trading partner, taking <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook45p/AustraliaTrade" target="_blank">about 30% of our exports</a>, looms large. But the power exercised by the Chinese regime is qualitatively different.
For all its economic liberalisation since the death of Mao Zedong in 1976, China remains a one party state, with repression worsening under Xi Jinping. On <a href="https://rsf.org/en/ranking" target="_blank">freedom of the press</a>, for example, China ranks 176 out of 180 countries.
Commercial, military and political influences are wrapped up together. Lines between state and private enterprises are blurred. When Chinese business interests curry favour with foreign politicians and officials, there’s a high chance that statecraft is also being advanced. <a href="https://theconversation.com/soft-power-goes-hard-chinas-economic-interest-in-the-pacific-comes-with-strings-attached-103765" target="_blank">“Soft power” is used extensively</a>.
Agent of influence
This is what made the tawdry scandal involving former NSW senator Sam Dastyari so alarming.
Though a humble senator, Dastyari was a key Labor Party fundraiser and powerbroker. He later admitted that <a href="https://www.theaustralian.com.au/national-affairs/dastyari-reveals-how-huang-xiangmo-courted-politicians/news-story/85c0592569a3d4583108b9a1cd64c13d" target="_blank">vanity and arrogance</a> made him susceptible to the charm offensive of Huang Xiangmo – the billionaire <a href="https://theconversation.com/the-australia-china-relations-institute-doesnt-belong-at-uts-78743" target="_blank">who courted Bob Carr</a> to head up the Australia-China Relations Institute.
Dastyari accepted financial gifts from Huang’s company, including a A$44,000 payment to settle a legal dispute, along with payments from other donors connected to the Chinese Communist Party.
Such payments made it obvious why he defied his own party’s policy and defended China’s militant stance in the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-11-29/sam-dastyari-secret-south-china-sea-recordings/9198044" target="_blank">South China Sea</a>. He was subsequently labelled a Chinese “<a href="https://www.afr.com/news/politics/sam-dastyari-is-a-chinese-agent-of-influence-exintelligence-chief-20171203-gzxktb" target="_blank">agent of influence</a>”.
These revelations resulted in Dastyari resigning from parliament in 2017. Earlier this month it was revealed the federal government had rejected Huang’s bid to become an Australian citizen and stripped him of his <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radio/programs/pm/australia-denies-citizenship-chinese-businessman-huang-xiangmo/10787052" target="_blank">permanent residency visa</a>.
On the basis of these examples highlighted above, there’s a strong case for making influence peddling open and transparent.
Whether the new laws can achieve that is another matter. They may curtail flagrant scenarios where those leaving public office sell their wares to the highest bidder. But to work effectively, the laws and their enforcers will need to constantly adapt and evolve as agents look for creative ways to wield influence from the shadows.<img src="https://counter.theconversation.com/content/112403/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;">
John Garrick, Senior Lecturer, Business Law, Charles Darwin University
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/agents-of-foreign-influence-with-china-its-a-blurry-line-between-corporate-and-state-interests-112403" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

New laws can shine light on foreign influence, but agents will remain in the shadows

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GUEST OBSERVATION
Populism is driven by the view that everyday people are suffering economic hardship as the corporate and political elites prosper. A sense of rising inequality and injustice is the foundation stone of populist rhetoric.
In Australia, the <a href="https://theconversation.com/banking-royal-commission-no-commissions-no-exemptions-no-fees-without-permission-hayne-gets-the-government-to-do-a-u-turn-110974" target="_blank">financial services royal commission</a> has lent credence to these concerns across a large part of the Australian community. Its hearings and reports give weight to the view that Australia’s middle and working classes have been systematically ripped off by their financial service providers.
What is of concern for us here in Australia is not so much the lightning rod that has been the findings of the royal commission, but the prospect of much harder economic times ahead.
Australia is not used to tough economic times. It has been 27 years since our last major recession. In the past 26 years, the annual average unemployment rate has climbed on only five occasions. It has been steady or fallen in 21 of the past 26 years.
The economic tide could well turn against us over the next three years. This, as much as anything, will give vigour to the kinds of populist voices that are wreaking so much havoc in other Western societies right now.
Populism is toxic to democratic societies. It preys on people’s worst fears and appeals to their darker instincts. Populism brings poor policy decisions and entrenches political dysfunction.
We are already seeing the effects that growing discontent with the major parties has on our political system. A surge of support for populist candidates and parties will magnify these problems.
Australian populism
Defining the concerns of populism is a tricky business. The most common is that economic and political elites benefit at the expense of the public, whether that be because the system is rigged against them or because those elites break social convention and even the laws to extract from the rest.
An extension of this perennial theme is that the elites, particularly in the business world, get away with it. The authorities do not pursue them and they are rarely held to account by the law.
Populism tends to be cultivated in an environment of poor economic performance and is exacerbated by growing inequality, real or perceived.
Australia’s democracy has a long history of stable centrist parties dominating the parliament and public policy. Since our Federation in 1901, the two or three major parties at the time of each federal election have averaged about 90% of the primary vote.
These moderate tendencies are regarded as a hallmark of our nation, and key to the resilience of Australia as a society. But, as the accompanying chart shows, there have been periods when voters have drifted away from the major parties with considerable enthusiasm.
<hr>
<a href="https://images.theconversation.com/files/260588/original/file-20190224-195864-iwn6wt.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/260588/original/file-20190224-195864-iwn6wt.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<hr>
For the first 30 years of our federal parliament, minor parties and independent candidates captured just 5% of the vote on average. The peripheral candidates were just that; peripheral and insignificant. That all changed in the 1931 election with the onset of The Great Depression and lasted right through to the second world war.
We experienced another extended period of major party dominance in the 1950s and the 1960s. In the 1970s a rising share of the vote started going outside the major parties and this has continued to this day. We now are in a situation where minor party and independent support is near the levels seen at the height of the Great Depression.
There also appears to be a greater polarisation within the major parties, particularly when they are in government. Not a single prime minister elected in the past decade has survived his or her first term of office – an unattractive milestone for a relatively young democracy.
Populism is always lurking below the surface of Australian society. It rears its head from time to time, but the broader community is pretty good at resisting its urges. A strong economy and low unemployment are critical ingredients in this success.
It could be argued that Australia is less susceptible to populism than other Western democracies. Just look at the contrast between what has happened here in the past ten years and the experiences of the United States or Europe.
Sure, the minor party vote has increased and some of that has been to candidates pushing a populist agenda. But these forces have largely operated at the margins of Australia’s policy agenda.
Complacency is dangerous
The once-in-a-century commodity boom supported our economy through both the global financial crisis and its destructive aftermath. It was a luxury not afforded the US or Europe.
The end of the mining boom was greeted by a residential construction boom. That too looks like concluding. The forces of weak income growth, high debt levels and sluggish economic activity are upon us.
Income and output growth are going to be much harder to come by in Australia in the years ahead. We cannot assume that just because we have avoided a significant recession for 27 years, we will avoid another one.
The last thing the Australian economy needs in this environment is greater political discord.
The major parties’ share of the vote is already at post-war lows. A new wave of populism that takes the vote of “others” to further heights could have serious consequences for effective management of our economy.
We have an open economy heavily burdened with debt and reliant on immigration and trade to provide a healthy underpinning to future economic growth. We don’t know how our economy would cope with a reversal of these key pillars of our modern prosperity.
Curtailing populist anger is a priority
Whether we like it or not, the evidence of misconduct in the financial services industry has become a flashpoint for popular discontent within Australia.
The financial services industry most certainly is not the root of all economic evil in our society, but that is irrelevant to the public mood and those who seek to take advantage of it.
The fact that the royal commission has laid bare such widespread abuse of market power means that right now the banking industry is the prime example of elites taking advantage of everyday people. Its extraordinary revelations have left Australians in a state of shock.
The broader community wants action, not just to prevent what was uncovered happening again, but to make sure that the people responsible are held accountable for the damage done.
Real or imagined, a lack of genuine accountability will mean people lose faith in the capacity of mainstream political forces and institutions to serve the broader community.
What is to be done?
If the moderate forces that operate in our parliament and government institutions are not seen to be delivering for the broader community, people will justifiably look elsewhere.
The immediate priority is to act following the final report from the royal commission. Commissioner Kenneth Hayne has made it perfectly clear that it is the role of the regulators, specifically the Australian Securities and Investments Commission.
There is every likelihood that more dangerous economic waters lie ahead. Policymakers will need to be both decisive and agile to deal with the malaise, whatever form it takes.
We are not facing a new financial crisis, at least we hope we are not. We don’t need to throw the kitchen sink at the economy right now. But the government we elect will have to work closely with the parliament and our key economic institutions to guide the country through new and uncertain economic times.
An effective parliament will be more important than ever.
Warren Hogan, Industry Professor, University of Technology Sydney
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/australias-populist-moment-has-arrived-111491" target="_blank">original article</a>.
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Australia’s populist moment has arrived: Warren Hogan

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More than a third of total stock on Melbourne and Geelong’s land market are resale lots, potentially troubling, some of which were bought by speculators now attempting to quickly on-sell, according to RPM Real Estate Group’s Q4 Residential Market Review. 
Their report found the secondary land market in Melbourne’s growth corridors is now hitting a peak, with 2,415 lots – or 39% - of total stock on the market comprising resale lots.
RPM’s head of Communities, Luke Kelly said just over half of these resale lots – 53% – have since settled, which suggests the majority of resales are genuine investors or even owner occupiers who are now unable to obtain finance to complete construction on their settled lot due to tighter lending criteria or a change in circumstances.
"It’s possible we’ll see some price reductions on resale lots as settlement approaches.
"However, realistically, people are reducing their profit margin to still make a profit but avoid losing their deposit – a $30,000 profit is better than a $10,000 loss."
Through data gathered from realestate.com RPM surmised, that of the total resale lots, 42% were located in the Western growth corridor, 34% in the Northern corridor, 18% in the South Eastern corridor and 6% in Geelong and the Surf Coast.
Kelly said while the conventional view is that resale stock undercuts retail lots, there is more to the story.
'The data (actually) reveals retail stock is cheaper than resale stock, given developers are producing smaller lots throughout their estates at more affordable price points," said Kelly.
The report found the downturn in the land market sharpened during the December quarter, with sales declining 42% from the previous quarter and 58% from the same quarter a year earlier.
However, the median lot price steadied, increasing 1.1% to $325,000 from the September quarter and 7.5% from December 2017. 
Kelly said while the overall residential market will take time to recover throughout 2019, some sub-markets, such as vacant land, will likely recover more quickly as first home buyers come back in larger numbers and access to credit improves.
“We should start to see higher levels of activity towards the second half of the year after the Federal election once there is more certainty around proposed changes to negative gearing and capital gains tax and the market adjusts to changed lending parameters,” he added. 
RPM found:
<ul>
<li>The key driver underscoring the slowdown in the apartment and townhouse market continues to be regulatory-driven credit restrictions for both investors and owner occupiers, which, together with falling prices, has adversely impacted purchaser financing to complete off-the-plan acquisitions.</li>
<li>After showing robust activity in the face of significant headwinds, total other dwellings have finally succumbed to current market conditions. Other dwelling approvals (apartments and townhouses) over December quarter 2018 were down 7.6% to record 5,831 approvals from the previous quarter – the lowest level since June quarter 2017.</li>
<li>More stark was the comparison to the same period a year ago which reveals a 55% fall in approvals.</li>
<li>Despite townhouse approvals picking up 5.6% over the December quarter from the previous quarter, approvals in apartments fell 19.3%.</li>
<li>Compared to the same quarter a year earlier, townhouse approvals fell 15.8% and apartments plunged 71.2%.</li>
</ul>
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Troubling resales 39% of Melbourne and Geelong’s land market stock: RPM Real Estate

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GUEST OBSERVATION
Power imbalances are doing far more to change the way we work than are apps.
With all the hype around the future of work, you could be forgiven for thinking the biggest issue in the future of employment is the impending takeover of your job by a robot or an algorithm.
Talk about the workplace of the future has become fixated on technological displacement almost to the point of hysteria. There is little doubt that technological development will change the way we work, as it has in the past.
But for most Australians the reality will be much less dramatic. The biggest changes in the working lives of Australians over the past 20 years have arguably not been technological – few of us are sending our avatars to meetings or writing code.
Many of us are, however, lamenting the paradox of feeling overworked yet, at the same time, insecure in our employment. A significant proportion contend with <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-11-20/reserve-bank-philip-lowe-warns-of-low-wage-growth-impact/10515756" target="_blank">record low wages growth</a>. Others remain <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/6202.0main+features10September%202018" target="_blank">less than fully employed</a>.
Some will say that the rate of insecure or non-permanent work has remained fairly constant over the past two decades. This belies the lived experience of workers. They have repeatedly been found to perceive their connections to the workplace and labour market as <a href="http://library.bsl.org.au/jspui/bitstream/1/2111/1/Shifting-Risk-report.pdf" target="_blank">precarious</a> and <a href="https://d3n8a8pro7vhmx.cloudfront.net/theausinstitute/pages/2807/attachments/original/1528337971/Insecure_Work_Factbook.pdf?1528337971" target="_blank">laden with personal risk</a>.
Power has been shifting
The changes have often involved the fragmentation or <a href="http://www.hup.harvard.edu/catalog.php?isbn=9780674975446&amp;content=reviews" target="_blank">fissuring of work</a> through outsourcing, global supply chains, independent contracting, labour hire and digital labour platforms.
But there has been more to it than the tweaking of business practices. The relationship between business and the state has been subject to a fundamental realignment.
Since the industrial relations changes in the early 1990s, which moved the setting of wages and conditions away from centralised institutions towards the workplace, the locus of power in the labour market has undergone substantial recalibration.
Collective representation of workers has declined sharply. This is <a href="https://www.rba.gov.au/publications/bulletin/2017/mar/pdf/bu-0317-2-insights-into-low-wage-growth-in-australia.pdf" target="_blank">recognised</a> as contributing to the wage stagnation being felt in Australia and other rich nations.
A 2018 article in <a href="https://www.economist.com/finance-and-economics/2018/05/31/if-wages-are-to-rise-workers-need-more-bargaining-power" target="_blank">The Economist</a> acknowledged this, noting that while politicians were scrambling for scapegoats and solutions, addressing stagnant wages required “a better understanding of the relationship between pay, productivity and power”.
A crucial aspect of understanding this relationship is recognising the impact that business consolidation has had. It has not only changed the experience of work, but also altered the balance of power between businesses and workers and between some businesses and other businesses.
The ascendance of global monoliths − such as Walmart, Amazon, Apple and Uber (and the big retailers and e-tailers in Australia) – has resulted in organisations that wield enormous economic and cultural power. This has led not only to a reduction in worker power but also to the creation of a crushingly competitive environment for the businesses that have to contend with contract terms dictated by the corporate giants.
What has been the result of the combination of changing business models, reconfigured institutions and the onslaught of business consolidation?
We have seen hyper-competition based on low labour costs, management approaches that skirt worker protection laws, and weaker regulatory oversight.
It has manifested in almost weekly scandals regarding sham contracting, exploitation of workers and what appears to be an epidemic of underpayment in a roll call of some of Australia’s most “successful” companies, among them <a href="https://theconversation.com/how-to-stop-businesses-stealing-from-their-employees-83363" target="_blank">7-Eleven</a>, <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Education_and_Employment/AvoidanceofFairWork/Report" target="_blank">Caltex</a> and <a href="https://www.mwji.org/highlights/2017/11/14/report-released-wage-theft-in-australia-findings-of-the-national-temporary-migrant-work-survey" target="_blank">Domino’s</a>) .
We can shift it back
The policy prescription to remedy the scourge of work insecurity and exploitation is decidedly unsexy. It goes against the zeitgeist that seems to suggest that any change that disrupts an existing system, rule or institution should be hailed as “innovative” and be uncontested.
It requires some reflection and the rebirth of aspects of our industrial relations system that have been lost but have redeeming features.
Key among these old-fashioned remedies is the encouragement of workers and employers to organise and recentralise bargaining.
A stated aim of the federal <a href="https://www.legislation.gov.au/Details/C1904A00013" target="_blank">Conciliation and Arbitration Act 1904</a> was “to facilitate and encourage the organisation of representative bodies of employers and of employees”.
Granted, back then the act was also about keeping industrial peace by preventing lockouts and strikes. This is no longer much of an issue in our era of record low industrial action. But, in the current context of fragmented work, it is unrealistic to expect individual employers and employees to engage in endless rounds of labour-intensive productivity bargaining, with little to show for it.
The economies of scale that were part of a centralised system were lost when workplace-based bargaining system took over. These could be regained, to the advantage of both employees and employers.
While that policy prescription looks similar to the original Conciliation and Arbitration system, the rationale behind it differs markedly.
No longer would it be simply about addressing the power dynamics between employers and employees. It would also be about addressing the inequitable power dynamics between mega-corporations and businesses subjected to their might.
A challenge for left and right
Arguments relating to the need for flexibility and regulatory reform, which were the basis of the 1990s decentralisation, were not without merit. Global competition was accelerating and there was a real concern that the Australian economy would not be able to keep pace. So greater agency was given <a href="https://www.accc.gov.au/speech/australia%E2%80%99s-experience-driving-economic-growth-through-competition-policy-reforms" target="_blank">to businesses so they could adjust and lift productivity</a>.
But we are now living in very different times. Neither excessive industrial action nor the spectre of poor productivity looms. It is neither intellectually or politically honest to use these as a basis for opposing proposals to recentralising bargaining.
Also, we need to acknowledge that the biggest beneficiaries of the disaggregation introduced in the early 1990s were the biggest businesses.
A more centralised system could allow employers and employees to combine their power to counter competitive pressures from mega-corporations that want to reduce labour standards. They have facilitated toxic workplace practices, including intensive surveillance, unrealistic performance expectations, avoidance of entitlements and exploitation of workers further down supply chains.
Constructing an industrial relations framework that tackles the insecurity that is being experienced now and the further insecurity that may be wrought by technological change is potentially confronting for both sides of the ideological divide.
Elements on the left may be reluctant to acknowledge that not all businesses are the same, that some are being squashed by the structure of the market. Some on the right might not be prepared to concede that the bright idea of the 1990s – reducing union influence and worker voices – has succeeded so well as to create perverse and economically unhelpful outcomes.
Both sides need to lift their gaze above the workplace. They need to recognise that earlier reforms are no longer the right ones now, admit that individual business might not be the best level at which to manage the technological change, and acknowledge where the new power lies, then act accordingly.
Sarah Kaine, Associate Professor UTS Centre for Business and Social Innovation, University of Technology Sydney
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/the-workplace-challenge-facing-australia-spoiler-alert-its-not-technology-111492" target="_blank">original article</a>.
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The workplace challenge facing Australia (spoiler alert – it’s not technology)

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A mortgagee's Blackburn house has been sold after more than two years and two unsuccessful auctions.
Originally listed for $1.35 million - 1.485 million the four bedroom two bathroom home was passed in at an October 2017 auction.
The second unsuccessful auction took place in July 2018, the property had an price guide of $1.1 million - $1.2 million.
Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-blackburn-130336706" target="_blank">2/7 Langtree Court</a>, the home sold at a February 23 auction for $1.16 million.
Set on 252 sqm, the one story house is near new with construction completed in 2017.
Patrick and Rupa Mane of Raine &amp; Horne Blackburn sold the property.
<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/blackburn-vic-3130">Blackburn</a> is $1.31 million according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.7%.
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Blackburn, Vic mortgagee home sold for $300,000 off original listing

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A mortgagee offering of a Sandhurst land parcel fronting the Sandhurst Golf Club course has been sold for $650,000.
James &amp; Michelle Munn of Munn Partners held the fringe Melbourne listing.
Situated at <a href="https://www.realestate.com.au/sold/property-residential+land-vic-sandhurst-202310530" target="_blank">25 Brindabella Circuit</a>, it sold at a February 2 auction.
The parcel is 632 sqm.
It is located moments from, two 18 hole championship golf courses, clubhouse, restaurant, gymnasium, tennis courts, swimming pool and walking tracks.
Sandhurst is located close to East Link, Peninsula Link, shops, schools and 10 minutes from Bayside beaches. 
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Last sold in 2012 it traded for $419,000.
The median price for a home in <a href="/developments/sandhurst-vic-3977">Sandhurst</a> is $828,000, according to CoreLogic.
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Mortgagee sells Sandhurst land parcel fronting golf course

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A two bedroom house in North Adelaide has recently been listed for sale by mortgagees with a price guide of $209,000.
It has been offered by Darren Bayford from Davies &amp; Hetzel.
Located adjacent to a large reserve, the house at <a href="https://www.realestate.com.au/property-house-sa-paralowie-130551434" target="_blank">42 Magdalena Crescent, Paralowie</a> features two bedrooms, open plan family and meals area, kitchen with electric cooktop, and rear veranda plus undercover parking. 
The two bedroom one bathroom property was built in 1990.
<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>
It last sold in 2006 at $177,500.
The median price for a home in Paralowie is <a href="/developments/paralowie-sa-5108">$304,000</a> according to CoreLogic, which calculate its annual change in median price over the past 10 years as 1.4%.
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Two bedroom Pawlowie, SA house listed for mortgagee sale

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EXPERT OBSERVATION
The Australian Bureau of Statistics (ABS) data on residential construction work done has fallen in NSW in the December 2018 quarter.
Residential construction work done in NSW in the December 2018 quarter has fallen by $356,717,000 since the June quarter of 2018.
This represents a 5 per cent fall over 6 months and it looks like the graph is falling more over future quarters as the housing construction market slows down. Many Sydney developers are finding it very difficult to attract pre commitments from investors or owner occupiers for apartments in the current market.
While the drop in residential building construction is modest it needs to be seen against a big drop in approvals for apartments across NSW of 33 per cent over the last year.
The flow on from the banking Royal Commission that has slowed lending is continuing and the negative environment towards new development created by the state election on 23 March is contributing to the slow down.
The falling prices for houses and apartments in Sydney are also leading to purchasers putting off decisions until the market bottoms in the future.
The residential construction sector supports 300,000 jobs in NSW and continuing falling home production will begin to impact on the jobs in this sector.
The non-residential sector which is around a third of the size of the residential sector is more stable with NSW expenditure at $2,524,336,000 and Victoria at $2,349,161,000 trend and seasonally adjusted over the quarter.
On a per capita basis Victoria is spending more on residential construction with $894 per person followed by NSW at $816, Queensland at $578 and Western Australia at $348.
The Urban Taskforce is concerned that residential construction and approvals are now dropping and that whoever is elected to form government in NSW on 23 March will need to reverse these trends to maintain jobs in the industry.
The graphs below are based on the Australian Bureau of Statistics data. 
<img src="https://www.urban.com.au/images/2019/2/28/CJ%201.JPG" alt="">
<img src="https://www.urban.com.au/images/2019/2/28/CJ%202.JPG" alt="">
CHRIS JOHNSON is the Urban Taskforce CEO 
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Residential construction falling in NSW: Chris Johnson

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GUEST OBSERVATION
Australia’s nearly three decades of uninterrupted economic growth won’t last forever.
Sooner or later policymakers will need to respond to a downturn that could come from any number of sources. A severe downturn in our main trading partner, China, a collapse of the local property market, global financial turmoil, or an unfortunate confluence of multiple factors are all possible triggers.
The real question is not whether or even when a recession will come, but how well positioned we will be to respond.
And, unfortunately, the answer right now is “not very”.
To understand what will be required to battle the next Australian recession it’s useful to distinguish between two broad types of economic trouble.
Two types of threat
The first is what one might call a “run-of-the-mill business cycle downturn”. Think Australia, 1990. In this scenario interest rates are raised to ward off inflation but eventually choke off business investment and private spending. Unemployment rises and GDP falls.
The central bank responds by cutting interest rates, and the federal government responds with “Keynesian” economic stimulus (extra government spending and/or tax cuts).
The second type of trouble is different, what might be called “mass financial panic”.
Think the United States in 2008. In this scenario an event (such as massive mortgage defaults) causes financial institutions to fail. If those financial institutions are connected to others then the entire financial system seizes up because everyone stops lending money to each other at once. It’s like a car going from 100km/h to 5km/h in half a second. It hurts.
The Keynesian response is completely insufficient in these circumstances. What’s needed is to get credit moving again.
And this requires people not only believing that they should lend money, but also believing that others will lend money, keeping the economy afloat and making the exercise worthwhile. Coordinating what economists refer to as “<a href="http://personal.lse.ac.uk/dasgupt2/hob_main" target="_blank">higher-order beliefs</a>” requires overwhelming financial force. It’s a kind of <a href="https://www.propertyobserver.com.au/https://www.carnegiecouncil.org/education/008/expertclips/005" target="_blank">Powell doctrine</a> in which the US went in with far more troops than it needed after Iraq’s invasion of Kuwait in the early 1990s in order to overwhelm the enemy.
It was the thinking behind then US Treasury Under Secretary Larry Summers’ <a href="https://www.newyorker.com/magazine/2009/10/12/inside-the-crisis" target="_blank">US$50 billion rescue package to head off the Mexican peso crisis in 1994</a>, and what then US Federal Reserve Chairman Ben Bernanke and US Treasury Secretary Hank Paulson did to avoid a repeat of the Great Depression in 2008.
The Reserve Bank is less than prepared
How well is Australia prepared to respond quickly in either of these scenarios?
Scenario 1 requires the Reserve Bank to cut interest rates and the government to spend money fast. With interest rates already at an historically low 1.50% – and perhaps lower by the time trouble arises – there’s little room left to cut further.
Unorthodox measures might be necessary, like so-called “quantitative easing”. This involves large purchases of long-term bonds to flood markets with money. While there is now experience from the US and Europe about how to do this, in Australia the Reserve Bank would be breaking new ground. Getting into such a program is not simple, and getting out might be very complicated.
But of course jacking up interest rates now to give the bank room to cut later isn’t a solution. That could trigger a recession itself. The bank has to grapple with how to respond to even a standard recession in the new age <a href="http://larrysummers.com/category/secular-stagnation/" target="_blank">of permanently low real interest rates</a>.
We’ve money to spend, but not the means
The government’s fiscal response requires having the capacity to run large budget deficits, which means being able to borrow. Australia’s capacity to borrow is currently good, with <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook45p/DebtPosition" target="_blank">net debt as a proportion of gross domestic product at around 19.2%</a>.
This is low by both international and historical standards. A former chair of President Obama’s Council of Economic Advisers, Christina Romer, and one of the world’s leading macroeconomists, David Romer, have <a href="https://eml.berkeley.edu/%7Edromer/papers/Romer&amp;RomerCrisesandPolicyRevised.pdf" target="_blank">persuasively documented</a> how vital such “fiscal capacity” is. Australia gets an A on that count.
But a cash splash needs to be spent, and fast. That means having “shovel-ready projects” lined up ahead of a recession hitting. Sending cheques to households is easy, but is often used to pay down debt or offset other expenditures rather than on spending.
We need to prepare ahead
A proposal being pursued by the <a href="http://www.grandchallenges.unsw.edu.au/" target="_blank">New Economic Equality Initiative</a> at the University of NSW is to prepare in advance of a recession a “green stimulus” plan. It would be a list of significant environmental expenditures — from tree planting to waterway cleanups, to cycle-path construction to dune repair — that would be documented and ready to implement immediately.
These would be projects that would stimulate demand but also have a high social return. To do them right would take planning ahead of time. It can’t be done well on the fly when a recession has already hit. Otherwise, well, think pink batts.
Preparing for a financial crisis as opposed to a mere recession is harder. Having the budget capacity to provide massive guarantees of bank deposits and other financial obligations is a must.
Last time, we got lucky
Equally important, though, is having regulatory agencies that can see trouble ahead and act swiftly. The Reserve Bank did an outstanding job a decade ago, but next time it won’t have then Treasury Secretary Ken Henry on the board and Kevin Rudd in the prime minister’s chair.
The Australian Securities and Investments Commission has shown itself to be functionally incompetent over an extended period, as the Hayne Royal Commission highlighted all too clearly. Capacity-building is a prerequisite for an effective response to a future crisis.
Regulators need to understand the interconnectedness of different financial institutions, the types of risk they are exposed to, where their funding is coming from and more. To some extent they need to know what they don’t know. It’s a big ask, but it is vital.
In many ways Australia got lucky in 2008. The Reserve Bank had a lot of room to slash interest rates and did it aggressively. The government had close to zero net debt and could spend fast. Ken Henry’s aphorism, “go early, go hard, go households” was heeded by an unusually intellectually curious and adept prime minister. China – our biggest trading partner – enacted an aggressive stimulus plan of its own.
The US Federal Reserve Chair just happened to be the world’s leading expert on the 1929 Great Depression, and the US Treasury Secretary was the former head of Goldman Sachs, an eminence of the banking world. Our response at home was matched by a near-perfect response abroad.
We won’t be that lucky again. Now is the time to plan how to fight the next recession.
Richard Holden, Professor of Economics, UNSW
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/now-is-the-time-to-plan-how-to-fight-the-next-recession-111497" target="_blank">original article</a>.
This is part of a major series called Advancing Australia, in which leading academics examine the key issues facing Australia in the lead-up to the 2019 federal election and beyond. Read the other pieces in the series <a href="https://theconversation.com/au/topics/advancing-australia-66135" target="_blank">here</a>.
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