Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

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As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Joel Robinson

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<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.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&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.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&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."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&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."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&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.

[smartcode_project_cta:default project_id=13962]

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.

[smartcode_project:default project_id=342 project_image_fid=357510]

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

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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A North Yunderup home fronting the Murray river has been sold by its mortgagee.
Described in the listing as "built to lock up with no finishing's" the house features a riverfront alfresco and it's own jetty.
The property was sold by Clare Seamer of Harcourts.
Located at <a href="https://www.realestate.com.au/sold/property-house-wa-north+yunderup-130111838" target="_blank">102 Culeenup Road</a>, the six bedroom four bathroom house was sold in January.
Last sold in 1997 for $360,000 the home fetched $850,000.
The Gemmil built home features a completed kitchen and "extra high ceilings".
Set on 1,050 sqm the property is a one storey abode.
<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-yunderup-wa-6208">North Yunderup</a> is $398,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 0.1%.
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j.ballantyne1990-6AQqhLzZaK

Waterfront North Yunderup home sold by mortgagee

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A two bedroom two bathroom Coburg North townhouse has been sold by the mortgagee.
Located at <a href="https://www.realestate.com.au/property-townhouse-vic-coburg+north-130196246" target="_blank">15 Camera Walk</a>, the home sold at auction on February 2.
It sold for $596,000.
Joseph Sassine of Jason Real Estate - Glenroy held the listing.
Set on 139 sqm the home came with an indicative price range of $580,000 to $610,000.
The two storey townhouse sold at a price increase of $71,000 since its 2014 sale price of $525,000.
<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/coburg-north-vic-3058">Coburg North</a> is $828,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 5.4%.
It is not the only home in Coburg north up for sale by its mortgagee, so too is <a href="https://www.realestate.com.au/property-house-vic-coburg+north-127651910" target="_blank">10 De Chene Parade</a>.
This five bedroom house has remained on market for just shy of a year and it's current price guide is $1.4 million to $1.5 million.
Reduced from a price guide of $2.2 million to $2.4 million.
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Mortgagee's Coburg North townhouse sold at auction

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EXPERT OBSERVER
The Governor chose to repeat the statement’s concluding paragraph which explains the policy decision with the same words that he used in December despite lower forecasts and recognition of downside risks.
<div>
<div>
<div>
<div>
As expected, the Board of the Reserve Bank decided to leave the cash rate unchanged at 1.5%. At the February meeting, the Board discusses the executive’s revised forecasts which will be released in the February Statement of Monetary Policy on February 8.
However, in recent statements, the Governor has provided readers with growth and inflation forecasts and this was repeated in today’s statement.
For 2019, forecast growth has been revised down from 3 ¼ per cent to 3 per cent, and 2020, from 3 per cent to “a little less” due to slower growth in exports of resources.
It is important that this 3 per cent growth forecast is above the assessed trend rate of 2 ¾ per cent, and the implied 2020 forecast is likely to be around trend.
If a central bank is forecasting above trend growth, then it is highly unlikely to adopt an easing bias, and indeed the chances are still likely that the Governor will persist with his assessment that even though rates are likely to remain steady for some time, the next move is likely to be up.
The inflation forecasts were also revised with the underlying inflation forecast for 2019 reduced from 2 ¼ per cent to 2 per cent, while the 2020 forecast remains at 2 ¼ per cent. Hence the Bank is maintaining the view that inflation will gradually move into the 2 to 3 per cent band, although it will take somewhat longer than previously expected.
There are good reasons why the Bank lowered its growth forecasts. Firstly, while it still assesses the outlook for global growth as “reasonable”, it recognises that “downside risks have increased”. Secondly, it has made some significant changes around the household sector and housing.
For some time, Westpac has argued that the fall in house prices in Sydney and Melbourne will be associated with a negative wealth effect.
In the RBA’s previous writings, they tended to dismiss any wealth effect, but in today’s statement the Governor notes “the main domestic uncertainty remains around the outlook for household spending and the effect of falling housing prices in some cities”.
In linking house prices with household spending, he appears to be recognising the risk of a negative wealth effect.
Westpac has also argued that residential housing construction will be a drag on growth in both 2019 and 2020. The RBA has not supported that view, referring to a strong pipeline. But, recent falls in dwelling approvals, including for detached housing, clearly point to a significant drag on growth from the housing construction downturn.
The statement continues to point to “rising business investment” which in the December statement was linked to “business conditions are positive”. The Governor has obviously decided that the strong negative signal from the recent NAB business survey was insufficient at this stage to review the business investment outlook.
Given that the survey was taken in early January, Westpac thinks that approach is reasonable but there will be considerable interest to see whether future surveys send a more positive signal.
The Governor maintains his positive rhetoric around the labour market and confirms its forecast that the unemployment rate will fall to 4 ¾ per cent by the end of 2020. He also expects a further lift in wages over time, supporting household incomes.
Financial conditions in the US attract some attention, although the recent sharp decline in equity prices is noted to have been partly reversed. He also observes that market participants no longer expect the FOMC to be tightening monetary policy.
The Sydney and Melbourne housing markets are assessed as “going through a period of adjustment”, and credit conditions have tightened.
This is the approach which he has taken in previous statements but it is very significant that he has begun to recognise a potential wealth effect, meaning that the price adjustment may have implications for the real economy.
With a more cautious view on the wealth effect and recognition that dwelling construction will contract, Westpac’s GDP forecast for 2019 and 2020 is 2.6%, with recent data releases pointing to downside risks even for those modest numbers.
Finally, the Governor chose to repeat the concluding paragraph which explains the policy decision with the same words that he used in December despite lower forecasts and recognition of downside risks.
Notably, it includes the sentence “Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual.”
Conclusion
With these revised forecasts, the RBA is clearly less comfortable with its previous positive outlook. Its growth forecasts remain significantly above Westpac’s own view.
With our forecasts of 2.6% growth in 2019 and 2020, it still seems that the more likely outcome will be for steady rates, even if as we expect, the RBA will eventually have to adopt growth forecasts much closer to Westpac’s current view.
Westpac confirms its long-held forecast that the RBA cash rate will remain on hold in 2019 and 2020.
BILL EVANS is the Chief Economist for Westpac
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bevans-rYk9SxEa4r

Reserve Bank lowers growth and inflation forecasts but remains confident: Bill Evans

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Amid uncertainty in the financial markets following the Royal Commission report, it was business as usual for the RBA, who kept the official cash rate at 1.5 percent for another month.
Their recently released chart pack, which details figures from the world economy to Australia's financial figures, yielded no further information, just further declines in some key areas.
Below are four charts which highlight the continued declines.
One of the most important aspect is the housing price to housing debt ratio, which has been tracking in the opposite, and negative, direction for months.
Click here 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/2019/2/6/RBA-Chart1.jpg" alt="">
The decline in house prices has led to consumer sentiment tracking toward the average, a figure we haven't seen since since late 2017.
Click here 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/2019/2/6/RBA-Chart3.jpg" alt="">
The <a href="/news/apartments-drive-dwelling-approval-decline-back-to-2013-levels">recent dwelling approval figures</a>, which showed an 8.4 percent decline in December nationwide, will have been a big factor in the RBA's decision to hold rates.
Its surprise December decline bring the seasonally adjusted annual decline to 22 percent.
The annual decline has been driven by apartment approvals, which have now gone back 38 percent over the 12 months to December 2018.
House approvals have declined 11 percent in that time period.
In trends terms, dwelling approvals have now fallen for 14 straight months, down 39 percent from the November 2017 peak.
Click here 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/2019/2/6/RBA-Chart2.jpg" alt="">
There continues to be a gap between household consumption and disposable income.
A household's disposable income hasn't been higher than its consumption since 2014.
Click here 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/2019/2/6/Rba-Chart4.jpg" alt="">
 
 
 
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jrobinson-rf4aSBido9

Growing gaps in key areas a concern for the RBA: RBA chart pack

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Boarding houses already with development approval are in high demand, according to the estate agency Savills.
The spike in interest comes after the NSW government has sought to limit boarding houses to a maximum of 12 rooms per site.
They are also seeking to limit boarding houses to just 0.5 car spaces per boarding room.
Savills Australia is seeing an influx of property owners looking to offload their assets and capitalise on the market in response to market uncertainty surrounding the new legislation.
Nick Tuxworth, associate director for the metropolitan &amp; regional Sales team, said he expected to see a spike in prices for properties that have already received development approval.
“We anticipate demand for such sites to build from developers who see them as high-yielding investments with 15-20 per cent returns and low vacancy rates,” he said.
"The tough rules exist to ensure boarding houses are only approved where they are close to public transport and adequate additional parking, and are compatible with council rules on density and building height”.
“The reason for the 12-boarding-room limit on boarding house developments in the R2 Zone is to address community concerns about amenity impacts, such as overlooking, overshadowing, and the loss of on-street car parking,” he said.
The metropolitan &amp; regional sales team recently sold a <a href="https://www.commercialrealestate.com.au/property/60-william-street-jesmond-nsw-2299-2014791772" target="_blank">Jesmond site</a> (top) for $1.175million, which had approval for 40 rooms, to a Sydney developer looking for “something more affordable in rural NSW”.
Director Nick Lower said many developers have been caught out by the changes.
“This market has been regulated by the government in the past 12 months, which has caught many developers out, and has forced changes in their DAs,” director Nick Lower said.
“We are finding several owners wanting to offload their sites due to these regulations so it’s a good time to be selling, as there is huge demand for approved sites with future uncertainty.”
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Savills expects high demand for boarding houses with development approval as NSW seek room limits

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Most Australians think it's not a good time to sell a property, according to a new survey.
According to NAB's latest consumer survey, a majority of respondents said they'd prefer not to list either the property are living in (56%) or an investment property (51%).
Some 41% also said that it wasn’t a good time to take out a mortgage for investment property.
The survey found roughly half of Australians said it was a good time to renovate the home they were living in (53%).
Buying a property to live in was the aspiration of 49%.
Mostly consistent in the different states some were outliers, in TAS the number who said it was a good time to buy a home to live in ranged from 61% in WA (where dwelling prices are around 17% lower than the last peak in mid-2014) to just 46% in NSW and QLD.
"When it came to selling a property to live in, the number of consumers who said it wasn’t a good time to sell was highest in WA (69%) perhaps also suggesting some home owners may be currently sitting on capital losses," the report said. 
"It was lowest in TAS (36%) which has also been fastest growing state for house prices since late-2017 and also the only state where consumers believe house prices will continue growing over the next 12 months."
"When it came to whether now was a good time to buy an investment property, WA was the most positive state and TAS (28%) the least positive followed by QLD (32%)."
"But more consumers in TAS (34%) thought now was a good time to sell an investment property, by far the highest number of all states," the report added.
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Majority of Australians believe it's a bad time to sell: NAB

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GUEST OBSERVATION
Do you live overseas and own a house in Australia? If so, you may have less than five months to act before you’re stuck with a large tax bill on the sale of that property.
<h3>Proposed tax changes</h3>
In May 2017, the Australian Government proposed changes to the existing capital gains tax (‘CGT’) laws. These changes will affect tax non-residents who hold property in Australia that have previously lived in as their main residence.
Under the current laws, an Australian property that is your main residence can be sold with potentially no Australian tax to pay (or at least a significantly reduced amount of tax to pay to reflect the ‘main residence’ period you lived there). However, under the proposed changes, if you are a non-resident (for Australian tax purposes) at the date of sale, you will no longer be able to claim the ‘main residence exemption’. This means that the entire gain you make on selling the property could be subject to tax, with no reduction for the period you actually lived in the property.
Although these proposed changes were announced nearly two years ago, they are still not law. It appears that one of the reasons for this is because the changes are quite draconian given non-residents could be taxed on the entire gain made on the property sale (irrespective of whether the property was their main residence for a significant period of time).
Further, if legislated, the changes are proposed to apply retrospectively from 9 May 2017. Despite this, there is a proposed transitional period for properties purchased before 9 May 2017 and sold by 30 June 2019 (whereby the current rules will still apply, meaning they could potentially still obtain the ‘main residence exemption’).
For many people, this means they may have less than five months to decide whether to sell their property or be faced with a large tax bill.
<h3>What should you do between now and 30 June 2019?</h3>
The uncertainty surrounding whether these changes will become law can make accurate decision making very difficult.
Should you sell your property now? Is it the right time to sell? What happens if the changes don’t become law?
Whilst the answers to many of the questions is outside your control, if you answer these four questions below, the decision-making process should become a lot clearer.
<ul>
<li>1) Will I actually be affected?</li>
</ul>
Ask yourself “will these changes even affect me?”
These changes will only apply where you are a tax non-resident at the date of sale. If you intend to re-establish your tax residency in Australia, the changes may not apply to you.
For example, you may currently be overseas on secondment and intend to return to Australia in the future. If you don’t plan on selling your property before returning to Australia, then you should not be affected by the changes.
Alternatively, if you plan to move overseas permanently and sell your property whilst you are a tax non-resident, then you would be affected and may need to act fast.
<ul>
<li>2) Will I have a large tax bill?</li>
</ul>
Even if you are affected by the proposed changes, you may not have a large tax bill on your hands.
To determine this, calculate what your tax liability would be (if any) under the current law and then again applying the proposed changes. If these calculations do not give rise to a material tax difference, you mightn’t have anything to worry about with the proposed changes.
For example, if you bought your house two years ago there may have been little growth in the value of the property since that time, meaning there may be little tax to pay on sale.
Alternatively, if you bought your house 30 years ago and lived there for 25 years prior to moving overseas, you could be up for a large tax bill on the difference in the property’s value between when you acquired it and when you sold it. In these circumstances, the decision to sell your property before 30 June 2019 becomes more relevant.
<ul>
<li>3) Should I sell before 30 June?</li>
</ul>
As an investor, you should assess whether it is appropriate for you to sell your property before 30 June 2019. This decision should not be made hastily (especially in light of Australia’s current property market).
According to CoreLogic, Australia is currently facing its weakest property market since 2008. As a result, if you were to sell your property during the coming months, you may not achieve the sale price you’re after. Are you better off holding the property long term and selling it when the market recovers? In some instances, a lower sale price may even outweigh any tax saving you would make by selling before 30 June 2019.
However, if you don’t sell your property, consider any potential holding costs. These could include land tax and an annual vacancy fee if your property is not residentially occupied or rented out for more than 183 days in a year.
Also ask yourself “how does my property fit within my investment portfolio?”. If your property has a strong rental yield you mightn’t be in a rush to sell. On the flip side, would the sale of your property enable you to invest in other assets with a higher return?
<ul>
<li>4) Will I be able to sell before 30 June?</li>
</ul>
Even if you decide to sell before 30 June, is it possible?
The Australian property market has experienced a recent decrease in auction clearance rates to 43.6% in the last quarter of 20181. These market conditions could cause delays in the sale of your property and mean you can’t actually sell before 30 June 2019.
If you need to undertake renovations to spruce your property up before selling, this could contribute to additional delays. This means you may need to move fast if you want to sell before 30 June.
<h3>Conclusion</h3>
Although the potential changes may seem daunting, if you work through the 4 steps above, you may find out you’ve got nothing to worry about. Alternatively, if you do have a potentially large tax problem, by acting fast and tailoring a solution to your personal circumstances, you may be able to manage (or eliminate) the problem.
NICOLE JOANNOU is a consultant for William Buck, a firm of Chartered Accountants and advisors with offices across Australia and New Zealand. 
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Sell your Australian property now, or risk a big tax bill: Nicole Joannou

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Centuria, now Australia’s largest office-specific REIT, has grown their portfolio to $1.4 billion, according to their half year financial results.
They also appointed Grant Nichols as new fund manager of CMA.
Mr Nichols, is an experienced fund manager with over 15 years of experience in Australian office markets.
He said “In the last year, CMA delivered 10.9% return on equity to unitholders, and is now Australia’s largest sector-specific listed office REIT"
“Having made CMA a pure-play in office assets, Centuria has continued to improve the quality of the portfolio – its delivery on strategy is evident in its strong returns to unitholders.”
“With a high-quality, fit-for purpose portfolio 89% weighted to the eastern seaboard and an average building age of 15.5 years, CMA is well positioned to capitalise on tenants seeking to expand or reposition across Australian metropolitan markets,” he concluded.
Over the past half year Centuria acquired a $521 million portfolio of four office assets which took the portfolio to $1.4 billion  (from $930.5 million at FY18) and made them Australia’s largest office-specific REIT.
They divested their remaining industrial assets, at "premium-to-book values".
Centuria retained high occupancy of 98.8% overall, with 100% occupancy throughout their WA, SA, VIC and NSW properties.
Over 14,500 sqm of net lettable area (6.7% of the portfolio NLA) was leased across sixteen transactions during the past half year – extending the WALE to 4.3 years.
The fund returned a statutory profit of $14.7 million in 1H19 and funds from operations of $26.5 million. 
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Centuria now Australia’s largest office-specific REIT with $1.4 billion portfolio

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Dexus made a half yearly net profit after tax of $726.4 million, down 27%, mainly due to net revaluation gains of investment properties being lower, according to their half year results.
The funds from operation, the more accurate measure for real estate investment trusts, was $353 million, up 9.8 per cent on the previous corresponding period.
They have restated a goal/guidance for distribution per security growth of circa 5% for FY2019.
Dexus Chief Executive Officer, Darren Steinberg said it had been a productive six-month period where the company added value through enhancing our development pipeline and attracting new investors to our funds management business.
"This has all been achieved while maintaining low balance sheet gearing."
“In our office portfolio we continue to outperform the MSCI office benchmark over one, three and five years through driving higher rents and lower incentives, particularly in Sydney which has been reflected in property valuations during the period."
“In our funds management business, we now have $15 billion under management with investors and partners that can invest alongside us through the cycle, reinforcing our objective of being the wholesale partner of choice in Australian property,” he concluded.
<img src="https://www.urban.com.au/images/2019/2/6/Dexus%20Office%20Portfolio.JPG" alt="">
Funds from Operations (FFO) reached $353.3 million, up 9.8% on the previous corresponding period.
Gearing was down to 23.7% from 24.1% at 30 June 2018.
There was a one-year unlevered total return of 13% in the Dexus office portfolio and 15.5% in the Dexus industrial portfolio
Office portfolio occupancy increased to 97.3% with Sydney office leasing spreads of +18%.
The group’s $5.2 billion development pipeline progressed, replenishing both the industrial and office development pipelines.
Dexus established a new circa $2 billion unlisted trust that invests in Australian logistics properties seeded from Dexus’s existing portfolio.
They delivered $34.7 million of trading profits (post-tax).
Dexus shares closed up 1¢ to $11.85 per security.
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Dexus net profit down 27% due to revaluation on investment properties

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In the first half of the 2019 financial year the Commonwealth Bank's exposure to commercial property has remained flat, according to their mid year report.
The report note their commercial portfolio remains, diversified across sectors and by counterparty.
<img src="https://www.urban.com.au/images/2019/2/6/CBA%20Graph%203.JPG" alt="">
CBA have lower apartment development exposures.
Their top 20 counterparties are primarily investment grade (weighted average rating of BBB equivalent) and account for 16.4% of their Commercial property exposure.
34% of the portfolio investment grade, and the majority of subinvestment grade exposures are secured (91%).
<img src="https://www.urban.com.au/images/2019/2/6/CBA%20Graph%201.JPG" alt="">
Impaired exposures remain low, 0.12% of the portfolio.
Geographical weighting has remained steady during the half.
They have been continuing ongoing comprehensive market and exposure monitoring of the portfolio.
<img src="https://www.urban.com.au/images/2019/2/6/CBA%20Graph%202.JPG" alt="">
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