<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe></p>

<p>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.</p>

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=149637 project_image_fid=351027]</p>

<p>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.</p>

<p>Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.</p>

<p>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.</p>

<p>The agent says buyers are increasingly recognising the area's long-term potential.</p>

<p>"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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=149637 project_image_fid=351031]</p>

<p>For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.</p>

<p>"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."</p>

<p>"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."</p>

<p>More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.</p>

<p>"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."</p>

<p>[smartcode_project:default project_id=149637 project_image_fid=351024]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=149637]</p>


Joel Robinson

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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p data-end="1160" data-start="703">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.</p>

<p data-end="1394" data-start="1162">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.</p>

<p data-end="1767" data-start="1396">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.</p>

<p data-end="1936" data-start="1769">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.</p>

<p data-end="2070" data-start="1938">"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.</p>

<p data-end="2230" data-start="2072">"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."</p>

<p data-end="2397" data-start="2232">Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.</p>

<p data-end="2600" data-start="2399">"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.</p>

<p data-end="2805" data-start="2602">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.</p>

<p data-end="2942" data-start="2807">Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.</p>

<p data-end="3078" data-start="2944">"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.</p>


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

<p><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.</p>

<p>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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362240]<br />
&nbsp;<br />
<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.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
"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.</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362566]<br />
&nbsp;<br />
"What makes these places so successful is that they become much more than residential developments," Brown said.</p>

<p>"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."</p>

<p>Brown has long described absolute waterfront land in Sy​dney as "finite."</p>

<p>"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.<br />
&nbsp;<br />
"<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."</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362564]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
"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.<br />
&nbsp;<br />
"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."</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=291195]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project_cta:default project_id=13962]</p>


Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140755 project_image_fid=354809]</p>

<p>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.</p>

<p>Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=140755 project_image_fid=366267]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=140755]</p>


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

<p>"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. ​</p>

<p>"We've lived here before… everything is here," Chris said.</p>

<p>"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."</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe></p>

<p>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.</p>

<p><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.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=364553]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357510]</p>

<p>While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.</p>

<p>"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.</p>

<p>"We're just thrilled with our choice."</p>

<p>[smartcode_project:default project_id=342 project_image_fid=336455]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=342]</p>


Location and lifestyle drive demand at Candela Ivanhoe

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>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.</p>

<p>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.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>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.</p>

<p>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".</p>

<p>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.</p>

<p>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.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


The inflation result the property market was waiting for

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<p class="p1"><span class="s1">SPONSORED POST</span></p>
<p class="p1"><span class="s1">Private golf courses across Melbourne are experiencing a change in demographics and player participation, with more than half of all Victorian golf clubs in financial stress yet occupying land potentially worth hundreds of millions of dollars, according to one commercial property expert.</span></p>
<p class="p1"><span class="s1">The changes affecting the future of golf have the potential to create a rapid shift in golf course land use, as metropolitan land values continue to rise and golf courses occupy huge areas of residentially zoned land, often in established locations.</span></p>
<p class="p4"><span class="s1">Savills Australia’s Clinton Baxter envisages numerous golf courses will opt to sell their landholdings for huge windfalls to compensate for dwindling revenues and rising operating costs.</span></p>
<p class="p4"><span class="s1">“Melbourne’s golf courses are an incredible source of land wealth, making them susceptible to closure and redevelopment,” he said. <span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s1">“Without the proper planning framework in place, the potential loss of local amenity, open space, and opportunity for long-term public benefit is very real.</span></p>
<p class="p4"><span class="s1">“At some point, the value of the land for a single-use sport with limited players must put pressure on the sustainability of the club.”</span></p>
<p class="p4"><span class="s1"><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/2018/11/20/golf3.jpg" alt=""></span></p>
<p class="p4"><span class="s1">Mr Baxter referred to the 2017 <em>Planning for Golf in Victoria </em>discussion paper prepared by the Victorian state government, and cited the urgency of the issue in light of population pressures and escalating land values. <span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s1">Several clubs have already elected to sell up, including The Eastern Golf Club in Doncaster for $100 million to Mirvac in 2011, which was relocated to Yering in the Yarra Valley. Other clubs to sell have included Kingswood in Dingley, Croydon Golf Club to Australand in Croydon, and Kingston Links in Rowville.</span></p>
<p class="p4"><span class="s1">“All of these sales were as a result of pressure from developers and declining memberships,” Mr Baxter said.</span></p>
<p class="p4"><span class="s1">Examples of the immense potential value of the land occupied by private golf clubs include Riversdale Golf Club at Mount Waverley, which sits on 130 acres of General Residential-zoned land and could be worth upwards of $300 million; and Victoria Golf Club in Cheltenham, which sits on 143 acres of General Residential-zoned land and could be valued at more than $400 million.<span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s1">“Many other public courses are currently zoned for public use but would be worth huge amounts if rezoned,” Mr Baxter said.</span></p>
<p class="p4"><span class="s1">An example is Brighton Public Golf Course, which sits on 85 acres and could be worth upwards of $250 million if rezoned for residential development.</span></p>
<p class="p4"><span class="s1">“We recently sold a 38-acre former orchard in Wantirna South for almost $100 million,” Mr Baxter said.</span></p>
<p class="p4"><span class="s1">“Almost all of Melbourne’s golf course landholdings are far larger, better located, and vastly more valuable – developers would be chomping at the bit to access such sites and develop them for high-density housing.</span></p>
<p class="p4"><span class="s1">“There are squillions of dollars to be made in developing such land, and golf clubs would reap huge wealth by selling to developers.”</span></p>
<p class="p4"><span class="s1">Mr Baxter said this raised the question as to whether the Victorian planning minister and related authorities should pre-empt a transition in the sport of golf, and step in and rezone private golf courses for public use, in order to prevent Melbourne’s suburbs from losing their parks and green areas.</span></p>
<p class="p4"><span class="s1">“There is an opportunity for planning authorities to get the right balance of public use and residential-zoned land before a major potential sell-up of golf courses takes place,” he said.<span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s1">“It may be appropriate to review the land currently occupied by golf courses and put measures in place that ensure the land is allocated to best serve the needs of a rapidly growing Melbourne, well into the future.</span></p>
<p class="p4"><span class="s1">“We want to see Melbourne’s renowned liveability retained, and ensuring major green open space for future generations remains intact is one such way to retain our global standing – it can be a legacy for future generations.”</span></p>
<p class="p4"><span class="s1">Mr Baxter said similar pressures were building on other sports clubs with declining memberships, and highlighted lawn bowls clubs in key locations as an example.</span></p>
<p class="p6"><span class="s1"><em> Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Clinton Baxter is State Director of Savills CBD and Metropolitan Sales. To learn more about Savills, visit </em><a href="http://www.savills.com.au/" target="_blank"><span class="s2"><em>savills.com.au</em></span></a><em>.</em></span></p>
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jrobinson-rf4aSBido9

Pressure mounts to assess the future of golf course land: Savills

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<p>A Richmond commercial site with development potential has sold under the hammer for $2.61 million.</p>
<p>The rectangular, 222 square metre site at 25 Howard Street has a 215 square metre building which currently includes mix of private offices and open plan work space.</p>
<p>According to selling agents, Teska Caron’s George Takis, Matthew Feld, and Larry Takis, six bidders made a total of 65 bids before the property sold at a land rate of $11.757 a square metre.</p>
<p>The property was sold with vacant possession.</p>
<p>George Takis said the site’s corner location had attracted developer interest, but the property ended up selling to an investor who would initially use it as a rental property.</p>
<p>“This was an outstanding result for a property which offered something for a range of potential purchasers,” he said.</p>
<p>“Ultimately the sale reflected the ongoing strength of the market for sub $5 million properties in the best locations.”</p>
<p>Feld said the property’s location just off Church Street was also a selling point.</p>
<p>“Demand drivers include the close proximity to the CBD, to rail and tram transport, to the Monash Freeway/CityLink, the strong population growth and the strong demand from smaller businesses to locate on the city fringe with cheaper rents and parking,” Feld said. </p>
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j.ballantyne1990-6AQqhLzZaK

Six bidders push Richmond commercial site auction to $2.61 million

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<p>The NSW Sheriff’s office has cancelled this week's scheduled auction of the Bondi hoarders home.</p>
<p>The solicitors for Waverley Council have received payment from the current occupants in satisfaction of the outstanding amount.</p>
<p>It is the third time the auction has been cancelled during the past three years.</p>
<p>The auction was set to be held on November 22 with $2 million plus hopes, based on previous price guides.</p>
<p>The Bobolas family’s notorious rubbish-ridden Californian bungalow last sold to Mary Bobolas in 1973 for $15,000.</p>
<p>There are currently five writs on title, totalling more than $248,000 worth of council clean-up charges and legal fees.</p>
<p>Ric Serrao, of Raine &amp; Horne Double Bay, had been enlisted again to market the 550 square metre property.</p>
<p>He issued 20 contracts.</p>
<p>The Boonara Avenue property was offered to buyers in 2016, but the auction was cancelled at the last minute when the family produced enough funds to pay off part of their debt to council for their continual clean-ups.</p>
<p>When it was listed in 2015, around 63 contracts were issued, but the Bobolas family again managed to come up with the money just hours before the auction.</p>
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Bondi hoarders home pulled from auction

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<p>EXPERT OBSERVATION</p>
<p>The good news is that wages growth has continued to lift from its 2016 low point of 1.9% year on year. However, the lift in wages growth largely owes to a faster increase in the minimum wage for 2017-18 of 3.3% which was up from 2.4% for the previous year and now to a rise of 3.5% for this financial year. Were it not for the acceleration in minimum wage increases, wages growth would still be running at around 2%, so there is still little evidence of significant pick up in underlying wages growth.</p>
<p>Fortunately at least the uptick in wages growth to 2.3% when inflation is just 1.9% means that real wages growth is at least positive. That said at 0.4% year on year real wage growth is still very small and won’t provide much of a boost to consumer spending.</p>
<p><em><a href="https://www.propertyobserver.com.au/images/2018/11/15/wages.jpg" target="_blank">Click here</a> to enlarge</em></p>
<p> <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/2018/11/15/wages.jpg" alt=""></p>
<p><em>Source: ABS, AMP Capital</em></p>
<p>Falling unemployment should help contribute to a pick-up in wages growth but with the level of unemployment and underemployment remaining very high at 13.3% it’s still hard to see a significant acceleration in wages growth. To get wages growth up to a more reasonable 4% probably requires labour market underutilisation to fall to around 10% at least.</p>
<p><em><a href="https://www.propertyobserver.com.au/images/2018/11/15/underemployment.jpg" target="_blank">Click here</a> to enlarge</em></p>
<p><span> <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/2018/11/15/underemployment.jpg" alt=""></span></p>
<p>Source: ABS, AMP Capital</p>
<p>In other data released today, consumer confidence for November rose 2.8%, with news of lower unemployment and falling petrol prices possibly offsetting news of falling home prices. It’s still stuck in the same range it’s been in all year though. Against this the NAB business survey showed a slight fall in business confidence in October, with both consumer and business confidence running around similar levels which are around or a bit above long term averages.</p>
<p><em><a href="https://www.propertyobserver.com.au/images/2018/11/15/consumer%20confidence.jpg" target="_blank">Click here</a> to enlarge</em></p>
<p><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/2018/11/15/consumer%20confidence.jpg" alt=""> </p>
<p><em>Source: NAB, Westpac/MI, AMP Capital</em></p>
<p><strong>Implications</strong></p>
<p>While it’s good to see wages growth up from its lows two years ago, beyond an acceleration in the minimum wage, which affects about 20% of the workforce, we are yet to see a meaningful pick up in underlying wages growth. This is a drag for consumer spending and will help keep inflation stuck around the low end of the 2-3% inflation target.</p>
<p>As result we remain of the view that the RBA won’t start raising interest rates until 2020 at the earliest and given the housing related downturn there is a significant chance that the next move could turn out to be a rate cut – although this would be unlikely before second half next year as it will take a while to change the RBA’s relatively upbeat thinking on the economy and rates.</p>
<p>With the Fed hiking and the RBA on hold (or maybe even cutting at some point) the Australian dollar still has more downside.</p>
<p><strong><em>SHANE OLIVER</em></strong><em> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.</em></p>
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soliver-smf6LQXgW9

Consumer confidence up but business confidence down: Shane Oliver

<html><body>
<div>EXPERT OBSERVATION</div>
<div> </div>
<div>Housing is Australia’s single largest asset class, worth more than four times the value of Australian-listed stocks.</div>
<div> </div>
<div>In New Zealand, investment in houses represented around one third of all investor activity in a 12-month period.</div>
<div> </div>
<div>Today’s choices in investment opportunity have reduced as investors are faced with low interest rates, inflation rates, taxes and a stock market that is out of an individual’s control.</div>
<div> </div>
<div>Real estate is more than an asset class; it is a long-term asset wealth growth vehicle too. Real estate protects investment against inflation through the economic cycles and offers growth in response to increasing demand for property.</div>
<div> </div>
<div>Investment concentrations tend to be highest within the capital cities, and we are all very aware of Sydney, Melbourne and Auckland and the machinations in those markets.</div>
<div> </div>
<div>Take Sydney, Melbourne and Auckland out of the picture and look at investment potential in other major cities, mining regions, coastal markets and other markets associated with tourism and lifestyle factors.</div>
<div> </div>
<div><span style="color: #262626;">Queensland’s improving economy, housing affordability, a rise in interstate migration and increased optimism in the market are all driving the value of the state’s residential real estate sector, for example.</span></div>
<div><span style="color: #262626;"> </span></div>
<div><span style="color: #262626;">Coastal and inland regions of all Australian states have the potential for rental return and capital gain. Cairns, Townsville, Mackay, Gladstone, Wagga Wagga, Dandenong and Mount Gambier are fair examples here.</span></div>
<div><span style="color: #262626;"> </span></div>
<div><span style="color: black;">In New Zealand, the average national property price climbed 65 to 70 per cent over a decade, putting in a better performance than the share market.</span></div>
<div><span style="color: black;"> </span></div>
<div>
<span style="color: #262626;">Almost half the value of New Zealand homes is inside Auckland city but as that </span>market takes a breather, look to the opportunities to in regional New Zealand: in Wellington, Christchurch, Tauranga, Invercargill and others.</div>
<div> </div>
<div><span style="color: black;">A massive opportunity to buy may exist in every Australian state and New Zealand region so don’t allow two or three markets to taint the scene.</span></div>
<div><span style="color: black;"> </span></div>
<div><span style="color: black;">Even within a single city, there’ll be better investment opportunities than others.</span></div>
<div><span style="color: black;"> </span></div>
<div><span style="color: black;"> Look at the $5 million-plus market, which appears very strong in Sydney, a good example of a truly international city with a limit to its land availability.</span></div>
<div><span style="color: black;"> </span></div>
<div>Every area that booms has to have a breather, and there will be opportunities to get back into that market.</div>
<div>
<br><em>MICHAEL DAVOREN is the Managing Director of RE/MAX Australia &amp; New Zealand</em>
</div>
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Where there are markets there are opportunities: Michael Davoren

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<p>A three bedroom two bathroom house in Success, WA has been listed by its mortgagee.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-wa-success-129901986" target="_blank">24 Prespa Loop, Success</a> the home is set for auction on December 15.</p>
<p><span class="property-description__address">Set on 257 sqm the home features a two car garage.</span></p>
<p><span class="property-description__address">The home is within walking distance of schools and transport links.</span></p>
<p>It is a short drive to the beach, featuring an open plan living/dining area and timber look flooring in the living areas.</p>
<div>
<div class="tell-me-more tell-me-more--expanded"><span class="tell-me-more__text"><span class="property-description__content">Last sold in <span>2016, the home went for $233,000.</span></span></span></div>
<div class="tell-me-more tell-me-more--expanded"> </div>
<div class="tell-me-more tell-me-more--expanded">The median price for a home in <a href="/developments/success-wa-6164">Success</a> is $511,500, according to CoreLogic data.</div>
</div>
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Three bedroom Success, WA house listed by mortgagee

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<p class="section-heading">A three bedroom two bathroom Strathpine, Qld home has been listed by its mortgagee.</p>
<p class="section-heading">Located at <a href="https://www.realestate.com.au/property-house-qld-strathpine-129903390" target="_blank">8 Trafalgar Court, Strathpine</a>, the home is set for a December 15 auction.</p>
<p class="section-heading">Set on 701 sqm the home is minutes from both local bus stops and local shops.</p>
<p class="section-heading">Featuring a double car garage the property is fully fenced.</p>
<p class="section-heading">Last sold in 2008 the property went for $410,000.</p>
<p class="section-heading">The house was unsuccessfully marketed at $480,000 for a year from 2011 to 2012.</p>
<p class="section-heading">The median sale price in <a href="/developments/strathpine-qld-4500">Strathpine</a> is $420,000, according to CoreLogic data.</p>
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Three bedroom Strathpine house listed by its mortgagee

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<p>A two bedroom two bathroom Mooroobool, QLD apartment has been listed by its mortgagee.</p>
<p>Located at <a href="https://www.realestate.com.au/property-unit-qld-mooroobool-129907926" target="_blank">308/22-24 Ward Street, Mooroobool</a>, the home is scheduled for auction on December 11.</p>
<p>Set on 123 sqm the home is situated in a gated complex.</p>
<p>Features of the complex include, a resort style swimming pool, an onsite gymnasium, a children's playground as well as parking for one car.</p>
<p>There are relatively low body corporate fees of $3,754 annually.</p>
<p>Last sold in 2007, the home went for $237,000.</p>
<p>The construction of the apartment was completed in 2008.</p>
<div>
<div class="tell-me-more tell-me-more--expanded">The median price for a home in <a href="/developments/mooroobool-qld-4870">Mooroobool</a> is $378,000, according to CoreLogic data.</div>
</div>
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Two bedroom Mooroobool apartment listed by mortgagee

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<p>EXPERT OBSERVATION</p>
<div id="post-body-5825783051489187345" class="post-body entry-content">
<div>The most timely JLL report showed that the residential construction pipeline is now shrinking fast on tighter lending criteria for developers and investors.  </div>
<div> </div>
<div>In time this will inevitably lead to tighter rental vacancies, especially as we head into and beyond the traditionally busy Christmas and New Year period, with more Airbnb offerings also set to eat into the rental market through this cycle. </div>
<div> </div>
<div>With the greatest volume of apartment construction through this cycle Sydney and Melbourne will be the last markets to know about the tightening (although when D-Day does come the presently record high population growth in these cities means that the tightening of rentals market may also be felt most acutely).</div>
<div> </div>
<div>We're already hearing more and more stories of failed or delayed settlements, so the slowing in supply could come about sooner than expected. </div>
<div> </div>
<div>The initial impacts will be felt in Hobart, Canberra, Adelaide, and an array of rental markets around regional Australia.</div>
<div> </div>
<div>Indeed, SQM's latest figures showed that rental vacancies had already fallen to the <a href="http://petewargent.blogspot.com/2018/11/lowest-vacancies-since-early-2014" target="_blank">lowest level since 2014</a> by the end of last month, so the process is well underway.</div>
<div> </div>
<div>The HIA forecast today in its National Outlook that housing starts will fall by more than 50,000 from the peak, noting (or lamenting) that:</div>
<div> </div>
<div>'APRA’s restrictions were designed to curb high risk lending practices but we are now seeing ordinary home buyers experience delays and constraints in accessing finance.'</div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-wxY4L0r9wvY/W_H50SPIkUI/AAAAAAAAs8A/nEtQ0ROLbqw-nzYBU5UQ6h7qiDj0VmVbACLcBGAs/s1600/HIA.jpg"><img src="https://3.bp.blogspot.com/-wxY4L0r9wvY/W_H50SPIkUI/AAAAAAAAs8A/nEtQ0ROLbqw-nzYBU5UQ6h7qiDj0VmVbACLcBGAs/s640/HIA.jpg" width="640" height="320" data-original-height="728" data-original-width="1454"></a></div>
<div class="separator"> </div>
<div>Note that all of this is before Labor's proposed changes to negative gearing come about, which were originally designed to slow investor activity in the raging hot markets of 2016. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Arrivals hit record high</span></strong></div>
<div> </div>
<div>The ABS released its arrivals and departures figures for the month of September 2018 this morning, which showed permanent and long-term arrivals rising to 823,090 over the year to September. </div>
<div> </div>
<div>This represents an increase of 6 per cent from a year earlier, and is the highest figure on record for Australia (the equivalent figure around the time of the Sydney Olympics was about 300,000, which is a measure of just how popular migration to Australia has become).</div>
<div> </div>
<div>
<div class="separator"><a href="https://2.bp.blogspot.com/-GgP_6qeACl4/W_IH3qhIk-I/AAAAAAAAs8Q/UA8Qz6OuBs4uLZfomR7yzd6SgnPhAQ3gACLcBGAs/s1600/A1.jpg"><img src="https://2.bp.blogspot.com/-GgP_6qeACl4/W_IH3qhIk-I/AAAAAAAAs8Q/UA8Qz6OuBs4uLZfomR7yzd6SgnPhAQ3gACLcBGAs/s640/A1.jpg" width="640" height="372" data-original-height="796" data-original-width="1364"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
</div>
<div>Short-term arrivals into Australia have also boomed in recent years, rising to a record high of 9.2 million in September. </div>
<div>
<br>Interestingly the growth is no longer being driven by Chinese tourists, with a range of other countries picking up the mantle, including India.<br><br><div class="separator"><a href="https://2.bp.blogspot.com/-9e36O96FObc/W_IIPQ4rEKI/AAAAAAAAs8Y/sauXuXL3M88cp9P4W5h8nuuXZV_WA_JCgCLcBGAs/s1600/A2.jpg"><img src="https://2.bp.blogspot.com/-9e36O96FObc/W_IIPQ4rEKI/AAAAAAAAs8Y/sauXuXL3M88cp9P4W5h8nuuXZV_WA_JCgCLcBGAs/s640/A2.jpg" width="640" height="352" data-original-height="799" data-original-width="1447"></a></div>
<br>Education arrivals were also up by 5 per cent from a year earlier to a record high of 596,400.<br><br><div class="separator"><a href="https://2.bp.blogspot.com/-BeHBJ35BtQ0/W_IKs0Qkn9I/AAAAAAAAs8s/XzTDMdxiWHs0kmY8ed9iJjFEdByWn8HGgCLcBGAs/s1600/Education.jpg"><img src="https://2.bp.blogspot.com/-BeHBJ35BtQ0/W_IKs0Qkn9I/AAAAAAAAs8s/XzTDMdxiWHs0kmY8ed9iJjFEdByWn8HGgCLcBGAs/s640/Education.jpg" width="640" height="374" data-original-height="793" data-original-width="1357"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
</div>
<div>Finally, at the state level short-term arrivals were up by 4 per cent in New South Wales to 3.45 million for the year to September, but growth was stronger in Victoria (up 8 per cent to 2.3 million) and Queensland (up 8 per cent to 2 million).</div>
<div> </div>
<div>
<a href="https://2.bp.blogspot.com/-BQ5Zsf2TBjQ/W_IIrT42XKI/AAAAAAAAs8g/vzjR8vNOBGA1kafBkeVaYabmGUZesD40gCLcBGAs/s1600/A4.jpg"><img src="https://2.bp.blogspot.com/-BQ5Zsf2TBjQ/W_IIrT42XKI/AAAAAAAAs8g/vzjR8vNOBGA1kafBkeVaYabmGUZesD40gCLcBGAs/s640/A4.jpg" width="640" height="358" data-original-height="797" data-original-width="1418"></a><br><br>Queensland was a little flattered here by the <a href="http://petewargent.blogspot.com/2018/04/gc2018hockey" target="_blank">Commonwealth Games XXI</a>, held at Gold Coast earlier this year...although that all seems like a long time ago now!<br><br><strong><span style="text-decoration: underline;">The wrap</span></strong><br><br>Both short- and long-term arrivals hit record highs for the year to September 2018, with accordingly significant implications for housing market demand over the year(s) ahead.<br><br>Australia's visa programme is tilted towards those aged under 30, so there are dramatic implications for rental market demand here as construction slows, as well as pent up demand for entrants to home ownership over the years ahead. </div>
<div> </div>
<div><em>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>.</em></div>
</div>
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pwargent-M4siyDbqQY

Rental vacancies to tighten: Pete Wargent

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<p>EXPERT OBSERVER</p>
<p>Over the three months to October 2018, more than three quarters (75.4%) of properties that sold transacted for less than their original listed price.</p>
<p>By comparison, over the same period, 7.0% of properties sold for their originally listed price with the remaining 17.6% selling for more than the originally listed price.</p>
<p>Over the past decade, even in periods where dwelling value growth was quite strong, the majority of properties sold nationally continued to sell for less than the original list price, highlighting that even during the boom times vendors will need to be flexible on their price expectations and buyers will seek out room to negotiate.</p>
<p>Since the middle of 2015, which is prior to value growth starting to slow but at a time where credit availability was tightening and transaction volumes were starting to fall, the share of properties selling for less than the original list price has been trending higher.</p>
<p>Geographically the rising trend of a greater share of properties selling with a discount is being driven by the Sydney and Melbourne markets where buyers have endured a long period of low advertised stock levels, rapidly rising prices and intense FOMO (fear of missing out).</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC.JPG" alt=""></p>
<p>As housing market conditions have weakened, buyers have more stock to choose from and far less urgency.</p>
<p>They are gaining more leverage, negotiating harder and a growing proportion of vendors are selling at prices lower than their original advertised price.</p>
<p>Outside of Sydney and Melbourne the trends are quite different, with the proportion of properties selling below the original list price holding reasonably firm.</p>
<p>Hobart, where housing market conditions have been strong relative to the other cities, is the exception, with an ongoing reduction in the proportion of properties selling below the original list price.</p>
<p>Across the combined capital cities, 73.6% of properties sold for less than list price over the past 3 months compared to 21.5% for more than list price.</p>
<p>Between 2013 and 2015 value growth was particularly strong and at that time a relatively high proportion of properties were selling above their list price.</p>
<p>It’s a very different story across the combined regional markets over recent years with very few properties selling above the original list price.</p>
<p>At its peak, 18.1% of properties sold in excess of the original list price, by comparison over the past three months 78.9% sold for less than their original list price and 13.0% sold for more than the original list price.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%202.JPG" alt=""></p>
<p>Sydney has been one of the strongest markets for value growth over recent years however, a big spike in listings and tighter credit conditions has made selling much more difficult.</p>
<p>At one point in mid-2015 more than three quarters of properties sold for more than the original list price.</p>
<p>Fast forward to the current market and 83.3% of properties are selling for less than the original list price compared to 13.3% selling above the list price.</p>
<p>Sydney vendors are now discounting their asking prices by 7.3% on average in order to make a sale, compared with only 5.4% a year ago.</p>
<p>At the peak in October 2015, 25.8% of properties in Regional NSW sold for more than the original list price highlighting that over recent years selling conditions were never quite as strong as those in Sydney.</p>
<p>Over the past 3 months, 82.0% sold for less than the original list price while 9.8% sold in excess of that price.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%203.JPG" alt=""></p>
<p>Melbourne is currently seeing 76.3% of properties selling below the original list price which is the highest share in at least 12 years.</p>
<p>As recently as April last year, when values were rising at a double-digit annual rate, 34.4% of properties were selling for less than the original list price.</p>
<p>By comparison today, only 18.7% of properties have sold over the past three months for more than the original list price and vendors are, on average, discounting their prices by 6.1% to make a sale.</p>
<p>There has never been a particularly large share of properties selling above their original list price across Regional Vic.</p>
<p>Currently, 9.5% sell for the original list price, 77.5% sell below list price and 13.1% sell above.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%204.JPG" alt=""></p>
<p>Brisbane’s housing market has seen very little value growth over the past decade and as a result a majority of properties has consistently sold for less than the original list price.</p>
<p>Over the past three months, 65.7% of properties sold for less than the original list price compared to 28.8% selling in excess of the list price.</p>
<p>Vendors are discounting their asking prices by an average of 5.7% in order to make a sale, which is roughly the same level of discounting relative to the same time last year.</p>
<p>The weakness that has been evident across parts of Regional Qld, especially those areas associated with the mining and resources sector, has seen a significant majority of properties over recent years sell for less than the original list price.</p>
<p>Over the past 3 months; 76.5% of property sales were less than the original list price compared to 17.0% selling for more.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%205.JPG" alt=""></p>
<p>When the Adelaide market was experiencing surging values in 2007 more than 60% of properties were selling above their list price however, over recent years, with housing values holding reasonably steady, very few properties have sold above the list price.</p>
<p>Over the past 3 months; 72.8% have sold below the list price and 21.3% have sold above the list price.</p>
<p>The ongoing weak housing conditions in Regional SA means that in terms of the original list price most purchasers have bought at a discount to that figure.</p>
<p>Over the current period; 86.3% of properties sold for less than the list price and 5.9% sold for more than the list price.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%206.JPG" alt=""></p>
<p>The ongoing weak housing market conditions in Perth over the past decade has meant that the majority of properties have sold for less than the original list price.</p>
<p>At their peak in mid 2011 (a time at which values were declining), 90.2% of properties sold for less than the originally listed price.</p>
<p>Over the past three months; 76.8% of properties sold below list price which is slightly lower than a year ago but still elevated and 19.0% sold in excess of the list price.</p>
<p>Housing conditions in Regional WA have been weaker than those in Perth culminating in almost all properties selling for less than the originally advertised sale price.</p>
<p>Over the past three months; 84.4% sold for less than their list price and only 9.9% sold for more than their list price.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%207.JPG" alt=""></p>
<p>As value growth has strengthened in Hobart, an increasing share of properties have sold for above the initially advertised price.</p>
<p>This is a function of relatively few properties for sale and values rising at an almost double-digit rate over the past year.</p>
<p>Over the past three months; an historic high 74.6% of sales have occurred in excess of the listed price compared to 21.7% below the list price.</p>
<p>As the rate of dwelling value growth is accelerating across Regional Tas, an increasing share of properties are selling in excess of the initially listed price.</p>
<p>Over the past 3 months; 34.8% of properties sold in excess of the list price compared to 55.9% selling below list price and 9.4% selling at list price.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%208.JPG" alt=""></p>
<p>With dwelling values falling for a number of years, very few properties in Darwin sell for more than the originally advertised sale price.</p>
<p>Over the past three months; 86.5% sold for less than the list price and 7.7% sold for more than the list price.</p>
<p>Reflecting the tough selling conditions, Darwin vendors are discounting their prices by an average of 11.7% in order to make sale which is substantially higher than any other capital city.</p>
<p>Regional NT is experiencing stronger housing market conditions than Darwin and subsequently a higher share of sales are occurring above the originally listed price.</p>
<p>Over the past three months; 16.7% sold for more than the list price and 70.8% sold below the list price.</p>
<p><img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%209.JPG" alt=""></p>
<p>A much higher share of properties in Canberra are selling at their original list price (14.4%) compared to other regions across the country.</p>
<p>Canberra is also seeing a relatively high proportion of properties selling above the list price (44.3%) although it is trending lower as sales below list price lift to 41.4% of all sales.</p>
<p>The recent decline in sales above the original list price is reflective of the softening housing market conditions across the city.</p>
<p>The data highlights the importance of setting an appropriate asking price on a listed property, and allowing some room for negotiation on the property transaction.</p>
<p>Finding the right balance can be a fine art.</p>
<p>Although the list price is often (not always) known a sale is a negotiation and as this data shows very few properties actually sell for the original list price.</p>
<p>As a result most properties end up selling below their original list price except in very strong markets such as Sydney and Melbourne over recent years and Hobart currently.</p>
<p>The data also shows that in very strong markets, vendors and real estate agents are at times not able to accurately gauge what price a property will sell for with many selling above the list price.</p>
<p>Equally in weak or falling markets a heightened number of properties only sell after the initially targeted sale price is reduced.</p>
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