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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<div>EXPERT OBSERVATION</div>
<div> </div>
<div>The average mortgage size in Queensland in the final quarter of 2018 took a leap from $424,000 to above $450,000, according to AFG's latest mortgage index.</div>
<div> </div>
<div>Evidently more southern state types are taking their borrowing capacity north to the Sunshine State. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-RFZw-CWuY0g/XEmcu8PJ11I/AAAAAAAAuGY/MdnQfZz97CI9vpgPtaq1Wfh9N71xivtBwCLcBGAs/s640/AFG1.jpg" width="640" height="380" data-original-height="800" data-original-width="1346"></div>
<div class="separator"> </div>
<div>Overall lending volumes through AFG brokers were way down on a year earlier at a shade over $13 billion for the quarter. The prior year comparative figure was $14.8 billion, some 12 per cent higher.</div>
<div> </div>
<div>Major lenders continue to leak market share at under 58 per cent of lodgement volumes, down from 78 per cent in 2013. </div>
<div> </div>
<div>With the share of investors in the market well down - and the share of interest-only lending also at the lowest level across the data series - a natural consequence of this is borrowers redirecting their borrowing capacity at larger home loans. </div>
<div> </div>
<div>Thanks to Queensland borrowers the average loan size nationally hit a fresh high level in the fourth quarter of 2018 at $509,162, up from $499,193 a year earlier. The <a href="http://petewargent.blogspot.com/2019/01/loan-sizes-down-in-victoria-wa" target="_blank">ABS has noted</a> it has discontinued its figures on implied average loan sizes due to loan-splitting potentially understating the results.  According to Reserve Bank of Australia (RBA) research only around 1 in 10 borrowers use their maximum borrowing capacity or something close to it, helping to explain how the average loan size can now be at a record high. 
</div>
<div>
 In the RBA's own words "tighter lending standards do not constrain most borrowers, but do affect some".
</div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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pwargent-M4siyDbqQY

Average mortgage size leaps in Queensland: Pete Wargent

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Rents across the nation were -0.1% lower in December 2018 and were recorded at $433/week, according to CoreLogics latest quarterly rental report.
The report found that, while rents fell -0.2% to $462/week across the combined capital cities over the month, in the combined regional markets rents increased by 0.2% to sit at $373/week.
Rents were lower in Sydney, Darwin and Canberra, they were unchanged in Melbourne and higher in the remaining capital cities.
Click <a href="https://www.propertyobserver.com.au/images/2019/1/24/Dec%20Rental%20yields%20CL.JPG" target="_blank">here</a> to enlarge
<img src="https://www.urban.com.au/images/2019/1/24/Dec%20Rental%20yields%20CL.JPG" alt="">
Sydney remains the most expensive capital city rental market with a median rent of $583/week which is $43/week more expensive than Canberra rents ($539/week) which are the second most expensive in the country.
"Historically Hobart has been the most affordable capital city rental market however, strong rises in rents over recent years have pushed rental costs well above those in Adelaide and Perth and now marginally higher than rents in Brisbane."
"The rental market remains mixed with rents falling in Sydney and Darwin and a fairly significant slowdown in growth in Melbourne."
<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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
"Sydney and Melbourne are seeing the impact of such significant demand from investors over recent years along with a substantial ramp-up in new housing (largely apartment) supply, much of which was purchased by investors."
Darwin rents have been falling for many years and they continue to decline.
The past year has seen a change of direction for both the Brisbane and Perth rental markets, following years of declines, rents are now rising again. 
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j.ballantyne1990-6AQqhLzZaK

Rents down for landlords in late 2018: CoreLogic

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Darwin's house prices have been falling for five years and are now 24.1% down from their 2013 peak, according to Domain's latest House Price Report.
The report found, Darwin house prices fell 0.4 per cent over the quarter and 8.7 per cent over the year to $514,876.
Unit prices fell 0.3 per cent over the quarter and 13 per cent over the year to $321,990.
<a href="https://www.propertyobserver.com.au/Darwin's%20house%20prices%20have%20been%20falling%20for%20five%20years%20and%20are%20now%2024.1%%20from%20their%202013%20peak," 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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said, “Darwin's housing market has been challenged in recent years."
"A recovery in Darwin’s housing market largely hinges on the government’s attempts at boosting the population, jobs growth and an improvement in the availability of housing credit,” she concluded.
<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Dar.jpeg" alt="">
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Darwin house prices down 24 per cent from 2013 price peak: Domain

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GUEST OBSERVATION
If you’ve been in central Brisbane recently, you will know there is a new visitor in town. <a href="https://www.brisbanetimes.com.au/politics/queensland/hundreds-of-electric-scooters-appear-on-brisbane-streets-20181116-p50ghq" target="_blank">Lime e-scooters have popped up all over the CBD</a> and neighbouring suburbs. It’s early days for this new mobility provider, so we can’t say if this is a permanent fixture with certainty, but here’s a transport research team’s view on the Brisbane trial and its implications.
Transport disruption makes life difficult for policymakers and transport agencies. Queensland at first <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2016-04-21/taxi-drivers-vs-uber-ride-sharing-drivers-face-heftier-penalties/7344300" target="_blank">attempted to deter illegal ride-sharing</a> but then <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2016-08-11/uber-to-be-legalised-in-queensland/7719078" target="_blank">legalised Uber and Ola</a> in response to public demand. E-scooter sharing systems might be just as transformative for people’s travel.
You can download an app, sign up quickly and for only a dollar unlock a scooter, hit the accelerator and zip down the street at up to 25km/h. Scooters can be picked up and dropped off on footpaths throughout the central city. They offer low-cost travel and produce low carbon emissions.
Previously, North American cities, such as San Francisco and Washington DC, were inundated with e-scooters. In response, some cities banned e-scooters outright, others used regulations to control the new players.
The trial in Brisbane is helping the city and state see if it works and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-23/the-rules-around-scooter-sharing-in-australia/10639170" target="_blank">determine an appropriate regulatory approach</a>. Lime was initially given a “<a href="https://www.theaustralian.com.au/national-affairs/state-politics/scooters-given-a-temporary-weekend-pass-in-brisbane/news-story/f81f9d19fd99327923077337d009a6b4" target="_blank">temporary pass in Brisbane</a>”, allowing up to 500 e-scooters. As long as riders wore helmets (either provided by Lime and attached to each scooter, or bring-your-own) and rode them responsibly, there would be no problem.
Kudos to the Queensland transport minister and his department for being the first in Australia to allow a trial and, more recently, for improving the regulation of these operations. Well done also to Brisbane City Council for allowing the trial in the central business district and working with Lime on the roll-out. It was especially helpful that the council’s contract with its bikeshare operator did not prevent e-scooters from competing for riders.
When you take off on one of these e-scooters, it is liberating. If you’ve used a kick scooter before, even as a child, these new versions are relatively intuitive to ride. The electric motor means Brisbane’s hills are suddenly no problem. A trip from our South Bank campus across the river and through the botanic gardens to connect to a downtown meeting took six minutes and cost just over $3.
No other mode of transport would compete in terms of either time or cost for such trips, unless you bring your own bike or e-scooter with you into town. <a href="https://www.brisbanetimes.com.au/politics/queensland/lime-wants-to-roll-out-more-scooters-on-brisbane-streets-20181204-p50k1c" target="_blank">Thousands of residents and tourists are using the e-scooters</a> in Brisbane each day. Our sources tell us over 100,000 users have made over 300,000 trips since the mid-November launch.
There are <a href="https://www.brisbanetimes.com.au/politics/queensland/fractures-and-head-injuries-scooter-crashes-becoming-a-regular-occurrence-20190120-p50shv" target="_blank">reports of injuries from falling off the scooters</a>. This highlights a need to take it easy your first few trips, to look for problems on any scooter you hire and to wear your helmet.
So what are the problems?
Our observations this last couple of months suggest user behaviour has changed. Some unruly behaviours we saw in the first few days seem have given way to new social norms.
Parking behaviour is also improving. Riders cannot lock the scooter (and stop paying for it) in locations where it might cause a nuisance, such as on the main green bridges. They are both encouraged to park out of harm’s way and forced to submit a photograph of their parking attempt. Park poorly a few times and Lime will suspend your account.
<iframe src="https://www.youtube.com/embed/zOMYOBBRtM8?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Lime itself emphasises the need to ride safely and follow the rules.
There are some issues though. The guidance provided to riders about where you can legally ride, whether on the departmental website, news media, the system app or its website, is at times missing, contradictory or just confusing. Fixing that should be easy enough.
Brisbane has not built much bicycle infrastructure in the last five decades, a few notable bridges and riverside paths aside. Nor have we reduced local street speeds to 30km/h, as is now standard European practice. There aren’t obvious safe routes to use when scootering through parts of the central city.
Fixing these issues will be more challenging, but quiet non-polluting e-scooters are clearly preferable to a city centre clogged with cars.
What are the best regulatory options?
Lime has proven these systems work well in Australian cities. But key regulatory questions remain. North American cities are introducing various regulatory systems. These include:
<ul>
<li>permits (often awarded via tender)</li>
<li>maximum fleet sizes</li>
<li>vehicle regulations – especially maximum speeds</li>
<li>go/no-go zones</li>
<li>parking controls</li>
<li>high fees to pick up and impound scooters that operators fail to collect.</li>
</ul>
Our city managers have to decide what options they prefer.
We have five suggestions.
1. There is no need for scooters in Australian cities that have more power or go faster than the current Lime scooters. The decision to choose 25km/h seems appropriate at present. Restricting speeds to 10km/h, as previous laws did in Queensland, would be nonsensical.
2. E-scooter systems are likely a natural monopoly, or perhaps duopoly. This is because one needs many scooters from the same operator available across a wide area to ensure efficiency in operations, keep costs low and provide wide coverage for users.
Brisbane City Council is talking of a probable monopoly, awarded via tender. This is the approach used since the city’s first tram operations in the 1880s. If Australian cities do award monopoly rights we hope they adopt Santa Monica’s use of a levy on the operator that is hypothecated towards improving the city’s bike lanes and bike paths, to create more safe riding space.
3. We recommend scooter parking locations be designated in key locations, such as close to Brisbane’s Queen Street mall, difficult as this will be given the competition for space on the city’s narrow streets and footpaths.
4. Cities should enter into meaningful partnerships with scooter companies that include data sharing for research and analysis of overall city transportation. <a href="http://www.goldcoast.qld.gov.au/thegoldcoast/bike-share-43914" target="_blank">Gold Coast’s MoBike scheme</a> is, without much fanfare, the best-used bicycle-sharing scheme in Australia and an exemplar partnership model.
5. These scooters need to be part of the coming move towards subscription mobility services. Soon we are likely to be offered “<a href="https://theconversation.com/for-mobility-as-a-service-maas-to-solve-our-transport-woes-some-things-need-to-change-105119" target="_blank">mobility as a service</a>” and pay one monthly fee to get public transport plus rideshare, bikeshare and scooter-share trips, some car-sharing and maybe some taxi kilometres. Based on the demand seen in Brisbane, e-scooters should be included in these packages.
This regulatory mix would cover most of the <a href="https://theconversation.com/can-e-scooters-solve-the-last-mile-problem-theyll-need-to-avoid-the-fate-of-dockless-bikes-102633" target="_blank">issues raised by others</a>. Get all this right and e-scooters can help create a safer, more sustainable and liveable city with a better set of mobility options.
Benjamin Kaufman, PhD Scholar in Transport, Griffith University and Matthew Burke, Associate Professor, Cities Research Institute, Griffith 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/limes-not-lemons-lessons-from-australias-first-e-scooter-sharing-trial-108924" target="_blank">original article</a>.
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Lessons from Australia’s first e-scooter sharing trial

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NAB has caved to funding pressures and hiked home loan rates just months after they said they were keeping their variables rates on hold.
NAB chief Andrew Thorburn said on September 10, “we are listening and acting differently”.
“We need to rebuild the trust of our customers, and by holding our NAB standard variable rate longer, we help our customers for longer,” Mr Thorburn he stated.
NAB is lifting rates by 0.12 per cent for owner occupiers paying principal and interest, and 0.16 per cent for investors and interest only customers, effective 31 January 2019.
The average NAB customer on a discounted variable rate will now pay $25 extra per month, almost $300 annually.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20rate%20hikes%202.JPG" alt="">
(Source: RateCity.com.au)
RateCity.com.au research director Sally Tindall said, “NAB tried to put their customers first, but it appears profit has won out in the end."
“NAB’s previous decision to keep rates on hold was designed to win back the trust of their customers. It was also a play to get new customers in the door."
“The strategy appears to have worked. In October 2018, NAB surpassed ANZ in terms of home loan market share. They now have the third largest home loan book, according to APRA data."
“Already this year we’ve seen BoQ and Virgin Money hike rates due to cost of funding pressures. Now that NAB has hiked as well, others are likely to follow in its shadow,” she concluded.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20rate%20hikes.JPG" alt="">
(Source: RateCity.com.au)
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NAB hikes variable rates after saying they wouldn't less than 20 weeks ago

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ASIC has banned Hobart financial planner Matthew Geappen from providing financial services for a period of five years.
ASIC’s concerns related to Mr Geappen’s practice of advising his clients to switch from one insurance product to another which allowed him to generate commissions from insurance providers.
ASIC also had reason to believe Mr Geappen was not adequately trained or competent to provide financial services and was not of good fame or character.
ASIC found that Mr Geappen failed to:
<ul>
<li>act in the best interests of his clients;</li>
<li>give advice that was appropriate; and</li>
<li>give priority to the interests of his clients over his own interests.</li>
</ul>
Mr Geappen was an authorised representative of Financial Wisdom Limited (FWL) from 18 December 2006 to 8 December 2016. He provided financial product advice in respect of superannuation, insurance and income protection products. FWL is a subsidiary of the Commonwealth Bank of Australia. 
Mr Geappen has exercised his right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
ASIC’s action was in response to information it received from the licensee, FWL, regarding concerns relating to Mr Geappen’s advice and advice processes.
The banning of Mr Geappen is part of ASIC’s Wealth Management Project.
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Hobart financial planner banned for five years

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EXPERT OBSERVER
The housing cycle and house prices always incite high interest in Australia. Until recently it was all about surging prices and poor affordability – particularly in Sydney and Melbourne. Over the last year it’s turned into how far prices will fall and what’s the impact on the economy.
Global issues and the election aside, the housing downturn is likely to be the main issue for Australia in 2019.
 How far have home prices fallen?
According to CoreLogic data, up until December capital city dwelling prices are down 7% from their September 2017 high. This masks a wide range though with Sydney down 11% from its July 2017 high, Melbourne down 7% from its November 2017 high, Perth down 16% and Darwin down 25% from their mid 2014 mining investment boom highs but other cities continuing to trend up to varying degrees. Recently the declines have been led by Sydney and Melbourne. House prices are on average down more than unit prices and prices in regional centres have generally held up better than capital cities.
What is driving the falls?
The fall in property prices comes after a boom – most recently over the five years to 2017 that in particular saw Sydney prices rise 72% and Melbourne prices gain 56%. This, on top of gains since the mid-1990s, saw a sharp deterioration in affordability, prices become overvalued relative to income, rents and their long-term trend and reach expensive levels by global standards. The surge in home prices went hand in hand with a surge in debt that has seen the ratio of household debt to income go from the low end of OECD countries to the top end. High prices and high debt left Australian housing very vulnerable.
What has changed in the last two years is that:
<ul>
<li>It’s become harder to get a loan as regulators forced banks to tighten lending standards and the Royal Commission seems to have made banks even more cautious. </li>
<li>A big pool of interest only borrowers are switching to principal and interest driving higher debt servicing costs. </li>
<li>Banks have cut lending to SMSF funds to invest in property. </li>
<li>The supply of units has surged to record levels. </li>
<li>Foreign demand has fallen sharply. </li>
<li>As rising prices fed on themselves by driving expectations for more price gains (FOMO - fear of missing out), falling prices are driving reduced price expectations and leading to reduced demand and FONGO (fear of not getting out). </li>
<li>Investors are starting to factor in less favourable negative gearing and capital gains tax arrangements if there is a change of government. </li>
<li>Problems regarding the Lacrosse and Opal buildings have dented confidence around building standards. </li>
<li>It's unlikely interest rate cuts will quickly end this property cycle downturn as occurred in the 2008 and 2010-12 downswings. Rates are already low &amp; debt is much higher.</li>
</ul>
What will be the impact of tax changes?
The Australian Labor Party’s policy since the last election has been to limit negative gearing to new property and double capital gains tax on investments held for more than 12 months. This is aimed at improving housing affordability which means lower prices. Put simply, such changes would make it less attractive for investors to invest in residential property which would be negative for prices.
A study by Riskwise Property Research and Wargent Advisory found that this would lower property prices ranging from 2 to 3% in Tasmania to around 9% in Sydney. While the tax changes are proposed to be grandfathered, it’s likely it’s already reducing investor demand as investors worry that when it comes time to sell their property if the tax changes occur then there will be less demand.
How far will home prices fall?
For Sydney and Melbourne our base case has been that prices would have a top to bottom fall of around 20% out to 2020. However, the further plunge in auction clearance rates and acceleration in price falls late last year suggest a deeper fall possibly of around 25% (although it’s impossible to be precise). This suggests around another 15% fall in Sydney and more in Melbourne. A 25% top to bottom drop would take prices back to where they were in late 2014/early 2015.
While prices in other cities are being affected by credit tightening they were less speculative and so are less vulnerable. Perth and Darwin have already seen prices fall back to decade ago levels. Other capital cities and regional centres generally didn’t have a boom and so are unlikely to have a bust. So for the rest of Australia flat prices to modest gains are likely. Taken together this suggests a top to bottom fall in national average prices of 10 to 15%, with another 5 to 10% this year.
Will home prices crash?
This is a bit of an unhelpful question like the “are we in a property bubble” questions of a few years ago as it’s hard to define and implies a degree of inevitability in terms of the implications. A 25% plunge in Sydney and Melbourne may seem like a crash but given the extent of the prior gains it’s arguably not. But a 25% national average fall would probably be interpreted as a crash.
Our assessment is that this is unlikely unless we see much higher interest rates or unemployment (neither of which are expected) driving a sharp rise in defaults and forced property sales or a collapse in immigration (which would collapse demand). Strong population growth is still driving strong underlying demand for housing. While mortgage stress is a risk, it tends to be overstated, and is unlikely to be a generalised issue unless interest rates or unemployment shoot higher. And, while Sydney and Melbourne are at risk, other cities have not seen the same boom &amp; so are unlikely to crash.
Although many like to make comparisons to the US at the time of the GFC, there are two big differences. Australia has not seen the surge in sub-prime loans where money was lent to home owners who often had “no income, no job, no asset” (NINJA loans). Secondly, our mortgages are full recourse meaning we won’t see “jingle mail”, where home owners can send back the keys just because the house value falls below their debt, which then saw the bank put the property back on the market pushing home prices even lower.
However, the risk of a crash cannot be ignored given the danger that banks may become too tight and that investors decide to exit in the face of falling returns.
Have home prices fallen before?
A common property myth is that prices only ever go up and never fall. But a simple look at history tells us this is not so. Real house prices (ie prices after the impact of inflation) in Sydney fell 36% in 1934-35, 32% in 1937-41, 41% in 1942-43, 12% in 1947-48, 14% in 1951-53, 12% in 1961-62 and 22% in 1974-77.
In nominal terms based on CoreLogic data Sydney dwelling prices fell 25% in 1980-83, 10% in 1989-91, 8% in 2004-06 and 7% in 2008-09. So a 25% fall this time around would be similar to that seen in the early 1980s.
What will be the impact on the economy? The housing downturn will affect the broader economy via slowing dwelling construction, negative wealth effects on consumer spending (ie, our wealth goes down, we feel poorer, we spend less than otherwise) and if rising defaults drive a further slowing in bank lending. The first two will detract 1 to 1.5 percentage points from economic growth. Growth in infrastructure spending and business investment should help keep the economy growing but its likely to be constrained to around 2.7% which in turn will keep wages and inflation low.
What is the impact on banks?
The main risk for banks is that the property downturn drives a rise in defaults. However, full recourse loans mean that just because home prices fall resulting in negative equity, defaults won’t necessarily rise. In the absence of much higher interest rates or unemployment making it harder for people to service their loans, a big rise in defaults is unlikely.
However, it’s still a risk and the housing downturn will likely mean slower bank lending which will constrain bank profits.
What will it mean for interest rates?
Constrained growth due to the housing downturn resulting in lower for longer inflation will likely drive the RBA to cut interest rates this year, with two cuts taking the cash rate to 1% by year end. Our base case is that this will occur in August and November (giving the RBA chance to assess the election and tax cuts), but soft data could see it come earlier.
Tax cuts from July are unlikely to be big enough (the Government is allowing for just $3bn pa in tax cuts which is just 0.1% of GDP) to head off the need for rate cuts.
Is the house price downturn good or bad?
This depends on who you are. For baby boomers who got in years ago, have paid off their debt and saw the value of their home rise to levels they never believed sustainable, a fall back to 2014/15 levels may be no big deal.
For those who got in more recently and have a big mortgage price falls are more of a downer and its this group for whom negative wealth effects will be greatest.
For millennials trying to get in its great news – assuming the housing downturn is not so great that it knocks the economy for six and they lose their jobs. For investors…
What does it mean for investors?
Over the very long-term, residential property adjusted for costs has similar returns to Australian shares. So, there is a role for it in investors’ portfolios. However, right now the slump in property prices in some cities is bad news for investors given that rental yields are often just 1-2% after costs.
Falling rents in Sydney are a double whammy. Add to this uncertainty about tax and it’s not a great time for a property investor. That said, other cities and regional centres offer more attractive rental yields than Sydney and Melbourne and falling prices in Sydney and Melbourne will throw up opportunities at some point.
Dr Shane Oliver is the Head of Investment Strategy and Chief Economist for AMP Capital.
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How bad will the housing downturn get? Shane Oliver answers the burning questions

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Colliers International has sold two DA approved sites at Hemmant to a Brisbane developer for $5 million.
Estates Co. purchased the two sites, totalling 2.23ha.
The new owner has obtained development approval for 36 home sites ranging from 400sqm to 600sqm.
The sites at 261 &amp; 273 Hemmant-Tingalpa Road are within 10km of the Brisbane CBD and within close proximity to the Port of Brisbane employment hub 
They previously had acquired 30 Oswald St, Hemmant around 12 months ago for $4.715 million for a total of 68 residential lots.
<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/2019/1/22/4.%20Capture%20-%204th%20photo.jpg" alt="">
Estates Co. has developed other infill projects in the surrounding area.
These sites as the last available flood free land in the area.
"There are other sites in the area, but they are badly affected by flood or environmental issues," Jason Dao, at Colliers International said. 
“The business recognises the keenness of homeowners to live and work near the city while being surrounded with other key amenities such as shopping centres, train station, schools and parks,” he said.
Both projects will be developed in the first quarter of 2019.
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Estates Co. plans for 36 home sites in Hemmant

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Capital city clearance rates have dropped to just 43.6 per cent in the three months to December 2018, according to recent CoreLogic findings.
CoreLogic found, it was down from 53.6 per cent over the previous quarter and 62.3 per cent over the same period a year prior.
The lowest weekly clearance rate for the quarter was recorded over the week ending 16 December (40 per cent across 2,406 auctions), while the highest clearance rate was recorded over the week ending 7 October (49.5 per cent across 1,817 auctions).
The findings stated, "Individual capital cities saw a decline in clearance rates everywhere except Tasmania, which remained unchanged at 50 per cent."
"The largest fall in clearance rates was seen across Canberra (down -13.4 per cent from the previous quarter), followed by Adelaide (-12.2 per cent), Perth (-11.9 per cent) and Melbourne (-11.2 per cent).
"Activity actually increased over the December quarter with 25,894 homes taken to auction across the combined capital cities (up from 20,653 over the September quarter), but current volumes remain much lower than the same period last year, when 32,408 homes were taken to auction," according to their findings.
Capital city auction clearance rate &amp; volumes: 
<ul>
<li>Sydney 43.1 % (8,828 auctions) </li>
<li>Melbourne 45.4 % (12,372 auctions) </li>
<li>Brisbane 31.8 % (1,642 auctions) </li>
<li>Adelaide 48.5 % (1,423 auctions) </li>
<li>Perth 25.0 % (499 auctions) </li>
<li>Tasmania 50.0 % (40 auctions) </li>
<li>Canberra 46.9 % (1,090 auctions) </li>
<li>Combined capitals 43.6 % (25,894 auctions)</li>
</ul>
Highest number of auctions for the quarter across capital city suburbs: 
<ul>
<li>Melbourne: Reservoir 216 </li>
<li>Sydney: Mosman 126 </li>
<li>Brisbane: Camp Hill 39 </li>
<li>Adelaide: Prospect 33</li>
<li>Canberra: Griffith &amp; Narrabundah 32 </li>
<li>Perth: South Perth 15</li>
</ul>
Highest clearance rate for the quarter by capital city suburbs:
<ul>
<li>Sydney: Bellevue Hill 80.0% (captured results: 40, scheduled auctions: 52, number sold: 32)</li>
<li>Melbourne: Windsor 71.4% (captured results: 21, scheduled auctions: 24, number sold: 15)</li>
<li>Canberra: Griffith 58.3% (captured results: 24, scheduled auctions: 32, number sold: 14) </li>
<li>Adelaide: Prospect 57.6% (captured results: 33, scheduled auctions: 33, number sold: 19) </li>
<li>Brisbane: Ashgrove 33.3% (captured results: 21, scheduled auctions: 27, number sold: 7)</li>
</ul>
CoreLogic found that, in non-capital city markets, auction volumes increased across all five regions over the December quarter when compared to the previous quarter, but mirroring the combined city results, clearance rates have fallen over the same period too.
The largest fall in clearance rates was seen across the Hunter region, down -18.8 per cent over the quarter, followed by Geelong (-17.3 per cent), Wollongong (-10.2 per cent), Gold Coast (-5.9 per cent) and the Sunshine Coast (-3.1 per cent).
The Gold Coast region was host to the highest number of auctions over the 3 months to December 2018 (616), followed by Geelong (579).
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Capital cities see a big drop in late 2018 clearance rates: CoreLogic

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The Australian states' mid-year reviews (MYRs) revealed that revenue pressures from the housing market correction will partly offset gains from the GST funding reform, according to Moody's Investors Service.
Moody's Investors Service noted that at the same time, they expect higher-than-budgeted capital spending to become a major challenge for states as most embark on record capital spending programs, causing debt to rise more rapidly than revenue.
They added that for some states, debt will start rising from a lower level than in earlier budget projections, overall debt burdens will remain elevated over the next four years, increasing vulnerability to risks such as unbudgeted health and education reform costs.
Housing correction will partly erode revenue gains from GST reform:
Additional Commonwealth GST top-up payments will be offset by a weaker housing market according to Moody's
However, a weaker housing market will offset these gains.
John Manning, Vice President, Moody’s Investors Service said, "following strong growth in transfer duty revenue in recent years, particularly driven by very strong house prices along the Australian east coast, the MYRs forecast a larger drop in property-related revenue than previously budgeted."
"Despite already projecting lower property-related revenue in their FY2019 budgets, the larger states of NSW and Victoria now forecast further declines in transfer duty and land tax revenue as a result of weakening residential property market prices and falling sales volumes."
He noted however, "revenue projections for both states increased overall."
"Both NSW and Victoria expect to receive additional Commonwealth grant revenue to offset lower transfer duty revenue."
"Higher payroll tax revenue, mineral royalties and an upward revision to GST also increased NSW’s revenue projections, while Victoria’s projections improved due to higher payroll taxes from stronger full-time employment and wage growth," he concluded.
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