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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EXPERT OBSERVATION
The economy grew at a strong pace over the first half of 2018 – with output expanding by over 4% in annualised terms.
Looking forward, we expect growth to slow in annual terms, though still at a pace which should erode spare capacity.
Public sector demand – both infrastructure spending and NDIS-related consumption will remain strong. We also expect non-mining business investment to benefit from additional spill-overs.
Exports are expected to continue to grow relatively strongly - as the last of the large LNG projects reach full production capacity – and then level off.
<img src="https://www.urban.com.au/images/2018/11/14/NAB%20GDP.JPG" alt="">
Mining is a potential upside factor to the forecasts, with that sector now clearly reporting the strongest conditions and confidence, commodity prices having remained high and the drag from the unwinding of the boom now fading.
Despite the above special factors adding to growth, our main concern remains weak consumption growth - which is likely to weigh on broader economic growth (accounting as it does for over half of all economic activity).
With an already low savings rate, weak wage growth, high debt levels and some anxiety from slower growth in household wealth - we see a very cautious household sector over the next couple of years.
The construction cycle is also expected to move down but, only moderately and as such its impact on growth will be small.
<img src="https://www.urban.com.au/images/2018/11/14/NAB%20GDP%202.JPG" alt="">
On a more positive note, recent data suggest that the labour market remains healthy with trend employment growth tracking at around 25-30 k per month.
This should be enough to see the unemployment rate decline further after falling to a 6-year low of 5.0% in September.
Despite the strong growth and tightening labour market, the September quarter CPI suggests that inflationary pressure remains weak.
While a number of one off adjustments to administered prices drove the weakness in headline inflation, our overall read is that both imported and domestic inflation remain subdued.
We have left our outlook for interest rates unchanged this month but our view remains heavily data dependent.
While growth has been strong and progress has been made on reducing the unemployment rate, the RBA will likely want to see further evidence of a pickup in wages growth and inflation.
There has been some progress on this front but the process has been gradual and is likely to remain so, with still some spare capacity in the labour market and the economy more broadly.
Readings on the WPI for Q3 and labour market data for October will provide important updates on the current pace of wage growth and momentum in the labour market.
ALAN OSTER is NAB's Chief Economist
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j.ballantyne1990-6AQqhLzZaK

NAB forecast economic growth to slow: Alan Oster

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A Chinese investor has purchased retail premises in Balwyn for $7.3 million.
Savills Australia’s Benson Zhou, Jesse Radisich, Julian Heatherich and Glenn Ye brokered the deal for 313-315 Whitehorse Road at a record C1Z land rate of $10,181 per sqm.
Mr Zhou said that despite the noise on recent cooling down on residential market, the property has made more than $1 million dollars in capital gains within two years’ time.
The premise last sold in 2016 for $6.18 million a near doubling from it's 2013 sale price of $3.1 million.
”This transaction highlights the sturdy market competition between investors seeking income-producing assets that present significant future development upside potential,” Mr Zhou said.
The property is anchored by a bedding store, Back to Sleep, and a technology firm is called Websilk on level one, and generates a rental income of approximately $416,878 per annum.
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Savills sell Balwyn retail premises to Chinese investor for $7.3 million

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There was much competition at auction for two Noosaville lots in one line and a starting bid of $2 million was brought up to a final bid of $3.3 million from a buyer just north of the NSW border.
Located at 5 Gibson Road, Noosaville both Lot 4 and Lot 5 both come with new 5 year anchor tenant leases expiring in April 2024, with an additional five-year option possible.
Lot 4 at approximately 340 sqm, produces a net income of $125,175 p.a. + GST.
Lot 4 houses seven professional offices. 
<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/2018/11/14/a%20RWC%205Gibson%20Sep18%201%209.jpg" alt="">
While Lot 5, at approximately 379 sqm, produces a net income of $90,893 p.a. + GST.
The assets were marketed by Ray White Commercial Noosa and Sunshine Coast North Commercial Property Consultant John Petralia. Mr Petralia said enquiries coming from locals, Brisbane, Sydney and Melbourne.
"Interstate buyers really appreciated the opportunity that was on offer."
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Dual retail lots break $3 million at Sunshine Coast auction

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To paraphrase former prime minister Paul Keating, walk into <a href="https://www.smh.com.au/politics/federal/plenty-of-bark-any-bite-20101028-175mv" target="_blank">any pet shop in the country</a> and you’ll find the resident galah saying we should swap stamp duty for a land value tax.
Just about every economic think tank in the land thinks it’s about the best value tax change there is, among them the <a href="https://theconversation.com/abolish-stamp-duty-the-act-shows-the-rest-of-us-how-to-tax-property-105378" target="_blank">Grattan Institute</a>, <a href="https://percapita.org.au/our_media/replacing-stamp-duty-with-broad-based-land-tax-could-increase-revenue-to-11-2-billion-by-2047-new-report-shows/" target="_blank">Per Capita</a>, the <a href="http://www.tai.org.au/sites/defualt/files/P149_Tax%20the%20need%20for%20change.pdf" target="_blank">Australia Institute</a>, and the <a href="https://www.cis.org.au/commentary/articles/dominic-perrottets-reforms-are-welcome-but-the-government-must-break-its-addiction-to-this-bad-tax/" target="_blank">Centre for Independent Studies</a> as well as <a href="https://www.thepolicyspace.com.au/2015/25/58-five-ways-to-reform-state-taxes" target="_blank">a swag of academics</a>, the Treasury in its work on the <a href="http://bettertax.gov.au/files/2015/03/08_GST-and-State-Taxes.pdf" target="_blank">draft white paper for tax reform</a> and the <a href="http://taxreview.treasury.gov.au/content/FinalReport.aspx?doc=html/publications/Papers/Final_Report_Part_2/chapter_g2-2.htm" target="_blank">Henry Tax Review</a>.
Among the benefits of what I will call SD4LVT are said to be greater ease in upsizing and downsizing, a more mobile population (less reluctant to buy and sell houses) and a more reliable source of revenue for state governments.
One state, the Australian Capital Territory, has already begun a <a href="https://www.revenue.act.gov.au/tax-reform" target="_blank">20-year</a> phase out of stamp duty and a 20-year build up of land tax.
But beneath the near universal enthusiasm for SD4LVT are layers of bad economics.
It is extremely frustrating to me that the leading minds in Australian policy have put their heads together and decided that the best reform they can think of is to replace a good tax on property with another good one that would be even less popular.
The more thoughtful among them don’t even bother to claim that SD4LVT will make housing more affordable, yet still put it forward as the “holy grail” of tax reform.
It is bad economics because of four key points its proponents miss or overlook.
<h2>Price effects</h2>
Stamp duty comes out of what the buyer is prepared to pay. This means that if you remove it, all other things equal, prices will rise by exactly the amount of the duty removed.
If the average home price is A$500,000, and buyers pay a 5% stamp duty, taking the total to A$525,000, then when stamp duty is removed the price will immediately increase to $525,000 being what the buyer was prepared to pay.
If you replace the stamp duty revenue with revenue from land value taxes, the effects on price are less clear. The change could push them up (enriching sellers) or it could push them down.
Imagine an example economy with:
<ul>
<li>20 houses</li>
<li>Turnover of one house each year (a turnover rate of 5%)</li>
<li>An average home price of A$500,000</li>
<li>Total stamp duty revenue of A$25,000 per year</li>
</ul>
Replacing the A$25,000 stamp duty revenue with a land value tax requires taxing all 20 homes at A$1,250 per year each.
Whether the market price of homes rises or falls depends on whether buyers think the cost to them of A$1,250 per year is lower or higher than the A$25,000 upfront stamp duty they avoided. If they thought it was about the same, SD4LVT wouldn’t much affect prices.
But what if turnover was half that, say 2.5%, which in this example would be where one house was sold every two years? In that case, the total stamp duty to be replaced would be A$12,500, which would be only A$625 per house in land tax.
The new buyer could pay A$512,500 for the house plus A$625 per year in land tax and be equally as well off as paying A$500,000 for the house plus A$25,000 in stamp duty.
The net effect would be a 5% price increase from A$250,000 to A$262,500.
If that happened nationally it would mean a transfer of almost A$200 billion to existing owners.
Whether or not that did happen would depend on the turnover and buyer’s views about the future value of money. In short, the price effects of a SD4LVT are ambiguous.
<h2>Mobility</h2>
While it is said that stamp duties deter Australians from changing addresses and switching jobs, there is little evidence that they are not changing enough.
Most people who relocate for work <a href="https://www.rba.gov.au/publications/bulletin/2017/mar/pdf/bu-0317-3-housing-market-turnover.pdf" target="_blank">don’t buy and sell homes in order to do it</a>.
They rent first, becoming both a renter and a landlord for a while, perhaps selling their first home later, but not quickly.
When they do sell, often for a healthy profit, stamp duty ensures they pocket less than would have, grabbing back some of what might otherwise be an untaxed capital gain.
Lower housing turnover from stamp duties mainly falls on the nearly half of sales involving investors who buy speculatively to capitalise on short bursts of capital growth before selling, in the process fuelling the boom and bust price cycle.
To me, anything that slows down real estate turnover and captures capital gains seems like a good idea.
<h2>Revenue stability</h2>
It is claimed that stamp duty revenues are much more volatile than other taxes. During a boom, they climb more than proportionally to prices since they also depend on turnover. During a bust, they fall more quickly than prices.
If I was to think in the abstract about what sort of taxes are good for the economy, I would say it is those that are pro-cyclical, meaning they automatically increase takings during a boom, and wind them back during a bust.
On this measure, stamp duty is a good tax for stabilising the economy, something important given how much our economic cycles are tied to housing markets.
The land value tax that SD4LVT proponents would replace stamp duty with would make the tax system as a whole less stabilising.
<h2>Odd modelling</h2>
You might have seen a chart like the Treasury graph below, with stamp duties presented as having enormous flow-on economy-wide costs compared to other taxes. In this example, land tax which is presented as having an economic benefit.
<hr>
<iframe src="https://datawrapper.dwcdn.net/i78qD/3/" frameborder="0" scrolling="no" width="100%" height="400"></iframe>
<hr>
The problem with the graph is that modelling used to prepare it (computational general equilibrium modelling) can’t directly account for transaction taxes because it doesn’t model transactions.
Instead of using a better tool for the job, the modellers assume that stamp duties increase cost of housing to all buyers and renters. It’s this assumption that drives a conclusion they describe as merely “<a href="http://www.policypartners.com.au/assets/treasury---economic-incidence-of-taxes-(2015).pdf">illustrative</a>”.
<h2>To sum up</h2>
Stamp duties don’t push up the cost of housing. The claim that they impede household mobility is overblown. They do reduce asset churn, and as a result they help maintain price stability.
Their “revenue instability” is actually a huge positive for the economy as a whole. And the modelling that has underpinned the talk of high economy-wide costs is as good as made up.
Yet SD4LVT remains the apparent holy grail of Australian tax policy.
Our best policy wonks continue to push our politicians to use up the precious capital to swap one very good property tax for another, for no obvious economic gain.<img src="https://counter.theconversation.com/content/106841/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/cameron-murray-172480" target="_blank">Cameron Murray</a>, Lecturer in Economics, <a href="http://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a>.
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/stamp-duty-fever-the-bad-economics-behind-swapping-stamp-duty-for-land-tax-106841" target="_blank">original article</a>.
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Swapping stamp duty for land tax is bad economics: Cameron Murray

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More than half of corporate occupiers across Australia and New Zealand plan to reduce their footprint of traditional leased office space in the next two years, as their portfolios shift towards flexible workspace solutions. 
This was a key outtake from CBRE’s Pacific Corporate Coworking Survey: The Future is Flexible report, which surveyed 60 large occupiers across Australia and New Zealand on their current and future planned use of third-party flexible space, with a focus on coworking and meeting and event spaces. 
In Australia, the flexible workspace industry occupies circa 193,200 square metres of space across the six major capital cities, with 40% of occupiers currently utilising some form of flexible workspace solution.
Australia currently has the seventh largest presence of coworking operators globally at 253 operators, while New Zealand comes in 35th with 62 listed operators. The APAC region is mooted for rapid growth in the coworking space over the next five years, with China to becoming the largest market by 2022. 
In the next two years, a noteworthy 58% of Australian corporate occupiers plan to reduce their traditional leased office footprint space and 55% are looking to increase coworking space use, compared to only 28% of companies that have no plans to adopt flexible workspace solutions across their portfolio. 
CBRE Head of Office and Occupier Research, Felice Spark, said the uptake of flexible space would only accelerate as more corporates capitalised on the opportunity to have greater workplace flexibility. 
“Flexible space is no longer viewed as being the exclusive domain of entrepreneurial, start-up companies. It’s apparent through the survey that many corporations are seeking to decrease their exposure to long term leases,” Spark said. 
“This doesn’t imply that occupiers are looking to reduce their total office footprint, as 55% have said they intend to increase their use of coworking space in the future and 40% intend to increase their use of meeting/event space.”
Despite the growing demand for flexible solutions, only 32% of occupiers in Australia would choose to locate in a building with a coworking operator, highlighting existing concerns occupiers have around building tenant profile, lease covenants and a lack of experience co-locating with coworking operators. 
Meanwhile, demand for meeting and event function space is high. 89% of Australian occupiers expressed they would choose to occupy a building that offered these facilities versus one that didn’t. 
“This was particularly prevalent for the medium and smaller portfolio corporate respondents who expected to increase their use of meeting/event space more than larger occupiers in the next two years,” Spark said. 
“Greater scrutiny is being placed on portfolio and cost optimisation along with space utilisation. The need for multiple, superfluous meeting rooms and big boardrooms that may not be used on a regular basis is being questioned. Additionally, these occupiers value the benefits of a premium concierge service to assist in coordinating and/or hosting events and functions.” 
<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/2018/11/6/workspace%201.jpg" alt=""> 
Source: CBRE Research
The survey also revealed that the motivation to use coworking space varied between industries. 
For example, Finance &amp; Insurance companies valued portfolio flexibility as a key reason for using coworking but gave access to a collaborative environment a lower score. Comparatively, Public Sector occupiers placed higher emphasis on the ability to access a collaborative environment and less so on meeting and event space. Technology companies, which were unsurprisingly found to be the highest users of flexible space, were motivated by the ability to adapt to changes in business processes. 
Nicole Fitzgerald, CBRE National Director of Workplace Strategy, said the survey findings highlighted that there was key opportunity in the market for operators and landlords to provide greater diversification in the coworking space offering to meet the different needs and preferences of industry groups.
“Today, coworking in Australia has a brand problem for large corporates. It is too strongly associated with a traditional start-up setup with bean bags and ping pong tables. Larger corporates want the flexibility but need a more sophisticated and brand aligned experience in an environment that enables and supports fast paced innovation and positive disruption,” Fitzgerald said. 
 <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/2018/11/6/workspace%202.jpg" alt="">
Source: CBRE Research
Notably, the survey found 44% of occupiers think landlords are not adapting to meet occupiers’ changing space requirements and 17% believe landlords are responding verypoorly.  
“Technology has revolutionised working methods and has aided the progress of an increasingly itinerant working style,” Fitzgerald said.
“For landlords, the opportunity exists to adapt their existing office product to meeting the evolving needs of their tenants. Flexible workspaces are becoming the point of reference for companies reassessing their commercial real estate requirements, and landlords need to understand this and adapt accordingly or risk being left behind.”  
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The future is flexible for Australian corporate occupiers

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Newcastle is attracting Sydneysiders with the lure of more affordable housing and lifestyle benefits, says Colliers International.
The city has around $1.2 billion of government investment projects in the pipeline, including the completed State Law Courts, NewSpace City Campus, transport interchange, light rail construction and the approved International Cruise Ship Terminal.
George Wragge, Director of Retail at Colliers International, said that the uptick in demand can be seen in the approximately $220 million worth of apartment developments that have been completed, with another $326 million under construction.
“People have moved north chasing affordability whilst seeking a different level of lifestyle and amenity,” Wragge said.
“This recent interest has come from a realization that Newcastle is incredibly accessible to Sydney however also offers attractions such as the Hunter Valley, Port Stephens and some of the nation’s best beaches.
“A major, boutique retail precinct is truly all that is missing in this unique seaside City.”
He is hoping this missing piece will be the East End residential and retail development, which is now under construction.
“The new East End Woolworths Metro store is now committed which will cater to the needs of office workers, shoppers, tourists and residents in the Newcastle CBD and will be the catalyst to curating a gentrified urban mix of food and beverage operators, service and convenience-based retailers.”
“Newcastle is no longer a hidden gem but is now exposed to major Sydney based retailers, with more premium restauranteurs and bespoke fashion stores expected to make the move North.”
Michael Chapman, Senior Executive at Colliers International, says that the demographic shifts in the area, plus the recent announcement of international flights out of Newcastle Airport, will bring more people to the city.
“With an increase in jobs of 8.1% predicted by 2020 and a rise in population of 33.4% predicted by 2036, Newcastle may have only just embarked on a journey of growth it hasn’t and may not ever experience again” said Chapman. 
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Boom in Newcastle residential construction to be complemented by new retail centre

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A mixed-use Coogee Bay Road building that is currently occupied by Moodi's cafe has sold, with a new technological trend.
The property, which sold for $3.25 million for the first time in over four decades, had 39 bids, a number coming from an international online bidder who was actively placing bids on the app AuctionNow.
The interested buyer entered the bidding at $2.1 million and stopped just shy of the final price at $3.24 million.
"As a direct result of having the property listed on AuctionNow, the potential buyer was able to watch the auction livestream in absolute real time and easily place bids from the other side of the world," a spokesperson for Damien Cooley auctions said.
 <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/2018/11/12/moodis2.jpg" alt="">
The building at 232 Coogee Bay Road had been Bakers Delight until last year when it gained approval to be converted into a health food cafe with outdoor seating.
Damien Cooley of Cooley Auctions held the hammer as the price soared past its $2.7 million reserve. 
It sold with a 3.5% yield, which is a suburb record for the asset class.
Above the ground floor commercial space is a one bedroom apartment with separate access.
Colliers International agents Peter Seeto and Miron Solomons handled the marketing.
Down the road the live auction for <a href="https://www.commercialrealestate.com.au/property/99-105-coogee-bay-road-coogee-nsw-2034-2014712202" target="_blank">99-105 Coogee Bay Road</a> saw the property was passed in with no bid.
<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/2018/11/14/Coogee-Bay-Road.jpg" alt="">
The building, which is home to LJ Hooker Coogee, was offered for the first time in over 100 years.
It comprises four retail ground floor shops and the 170 sqm office space above which is tenanted by LJ Hooker.
There's potential income for around $250,000 per annum on a fully let five tenancy basis.
 
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jonathanchancellor-7SQnKwU6yx

International investor using AuctionNow app underbids on Moodi's Coogee cafe

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Big taxation reforms are rare.
The stamp duty bracket creep changes announced this week by the NSW State Government were heralded as the biggest overhaul to stamp duty in three decades.
That was true because for 32 years our state treasurers have simply taken billions in stamp duty, securing around $1 out of every $5 the state government receives as revenue.
I recall writing the median stamp duty would rise to $1500 after Premier Barry Unsworth's 1986 budget, as the Labor government increased stamp duty on properties sold for more than $300,000 and $1 million to the new rates of 4.5% and 5.5% respectively.
The typical Sydney buyer now pays $42,000 duty for their acquisition.
NSW residents currently pay almost $7 billion annually in taxes to shift home - some $134 million in St Leonards, $88 million in Waterloo; Kellyville buyers paid $119 million, some $109 million paid in Mosman; Riverstone $94 million and $86 million in Parramatta.
The tax reform will cost the state budget about $185 million in the three years after the changes slowly take effect from July 1 next year.
The announcement by NSW Treasurer Dominic Perrottet that the rate of increase in stamp duty will be reduced was a headline opportunity rather than leadership, being a very small step towards greater reform, rather than seriously addressing the cost of housing.
The government noted the changes will cut the average amount of stamp duty per property transaction by around $500 by 2021, but the savings will rise over time, presumably especially when inflation gets into a gallop again.
Stamp duty is levied on residential property purchases using price brackets and rates that rise from 1.25% under $30,000 to 5.02% over $3 million. The brackets have remained largely unchanged since 1986 despite the increase in Sydney property prices since then from $80,000 to its current near $1 million median dwelling price.
Stamp duty has become a tax regime that holds up housing turnover and impedes employment mobility. 
It is especially an issue as the tax discourages the ageing population nearing retirement from leaving large family homes occupied by only one or two people.
The announcement was noteworthy as NSW will be the first state to index stamp duty brackets to the CPI. 
It is a small signal recognising that reform is needed.
An audit, by former NSW treasury secretary Michael Lambert, described stamp duty as the most inefficient of NSW state taxes.
It recommended a ‘stamp duty replacement tax’ be phased in to replace all property transfer duties.
The proposed replacement tax would be based on land values rather than market values of properties and would be payable annually instead of when properties change hands. 
Treasurer Perrottet is open to further reform but emphasises any change would require the co-operation of the Commonwealth government and all the other states, given issues involving GST funds distribution.
The ACT government is phasing out stamp duty and replacing this with a land tax. 
The Australian Capital Territory has Australia’s most efficient tax base – every dollar of revenue raised costs the economy just 21.9 cents.
New South Wales has the least efficient – every dollar of revenue raised costs the economy 29.7 cents.
It's time for the Federal Treasurer and Prime Minister to take up the issue at Council of Australian Governments and bang heads, just as Peter Costello and John Howard did with the GST some two decades ago.
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

NSW's stamp duty changes a good step, but further reform needed

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The decline is slowing down in the NT, but values are still on a downward spiral.
CoreLogic’s Total Returns Index for July 2018 showed that the total returns for Darwin fell from 2.5% in the 12 months to July 2018 to just -0.8%. However, the report indicates that, even with this drop, the decrease in values was less sharp over the previous two months.
Regional pockets of the NT recorded much more positive results, with total annual returns jumping from 1.4% to 12.3%. This ties in with rental yields being highlighted as one of the state’s best advantages.
However, while returns favour landlords, rental rates do not. CoreLogic’s Home Value Index showed that Darwin had one of the weakest rental markets among the capital cities, alongside Sydney. Over the 12 months to July 2018, rents fell by 2.2% in Darwin.
With rental conditions generally remaining subdued nationally, the recovery in rental yields is likely to be drawn out.
He also highlights Darwin’s poor performance over the past several years as one of the factors that has contributed to the nationwide slowdown in property prices. CoreLogic’s Property Pulse report for August 2018 indicated that Darwin has had one of the weakest decades among the capital cities. Since March 2013, real dwelling values have fallen by a total of 29%.
We can’t see any factors that may halt or reverse the housing markets’ trajectory of subtle declines over the second half of 2018.
<a href="https://www.propertyobserver.com.au/images/2018/11/12/JOB%201.jpg" target="_blank">Click here </a>to enlarge
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/JOB%201.jpg" alt="">
Economic stagnation
That Darwin’s property market still doesn’t seem to have hit the bottom spotlights a problem with the local economy.
“Unless there are real job creators out there – major projects – that market will continue to slide,” warns Real Estate Institute of Australia president Malcolm Gunning.
“It’s all underpinned by jobs – it’s not necessarily a destination for retirees. It’s driven by any increase in population, which is driven by work opportunities.”
Nonetheless, Darwin is still recording fairly steady sales of houses in the $1 million range. While lower than the peak figure of 5.9% of all house sales in 2015, the percentage of houses sold at a minimum of $1 million in 2018 was 3.8% – a number that has remained consistent over the 12 months to June 2018.
<a href="https://www.propertyobserver.com.au/images/2018/11/12/JOB%202.jpg" target="_blank">Click here</a> to enlarge
 
<h3> <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/2018/11/12/JOB%202.jpg" alt="">
</h3>
Suburb to watch
Located in inner Darwin, the suburb of <a href="https://www.yourinvestmentpropertymag.com.au/top-suburbs/nt-0820-parap.aspx" target="_blank">Parap</a> is clearly mirroring the city’s slump.
<a href="https://www.propertyobserver.com.au/images/2018/11/12/JOB%203.jpg" target="_blank">Click here</a> to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/JOB%203.jpg" alt=""> 
Values of both houses and units fell over the 12 months to July 2018 by 1.9% and 8.3%, respectively, continuing the negative trend recorded since 2013. This decline is easing in comparison to previous years, which could be a positive sign.
 <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/2018/11/12/JOB%204.jpg" alt="">
It seems that units are presenting a better showing than houses – over the year to May 2018, the former recorded higher sales than the latter, at 23 units compared to 14 houses. Moreover, the rental rates for Parap’s apartments increased by 2.3% in this period, for a high average yield of 6.9% – a favourable outcome for investors.
 <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/2018/11/12/JOB%205.jpg" alt="">
Yield: Units offer very high returns of almost 7%, compared to houses at 4.6%
Sales: A total of 14 houses and 23 units were sold in the year to May 2018
This article first appeared in <a href="https://www.yourinvestmentpropertymag.com.au/market-report/nt/nt-excerpt-from-the-2018-november-market-report-256416.aspx">Your Investment Property Magazine</a> - 2018 November Market Report.
TIM LAWLESS heads up the CoreLogic RP Data research and analytics team and can be contacted<a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank"> here.</a>
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tlawless-5VLUrbAk9s

The Top End is taking a long time to hit rock bottom: Tim Lawless

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EXPERT OBSERVATION
Median values and prices are often quoted in the media but what do they actually mean and what are they reflective of?
CoreLogic’s median value is an estimate of the middle value of all residential properties within a market.
The median is useful for understanding the middle of the market, however across the metropolitan area of our cities there is great deal of diversity in housing values.
To try and provide a bit more depth, we are looking at median values across the five largest capital cities and comparing them to values across the capital city SA4 sub-regions. In Tas and NT we are comparing capital city values to regional SA4 values.
<a href="https://www.propertyobserver.com.au/images/2018/11/12/data%201.jpg" target="_blank">Click here </a>to enlarge
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/data%201.jpg" alt="">
Sydney’s median dwelling value as at October 2018 was $833,876 and the SA4 region closest in median value was the Inner South West at $840,805.
Most of the areas that have a median value lower than that of greater Sydney are located some distance from the city centre while those with higher values are typically the areas closer to the city centre or along the coastline.
The city’s most affordable SA4 region is Outer South West ($602,246) and the most expensive is Northern Beaches ($1,383,461).
<a href="https://www.propertyobserver.com.au/images/2018/11/12/data%202.jpg" target="_blank">Click here </a>to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/data%202.jpg" alt=""> 
Across Greater Melbourne, the median dwelling value is recorded at $665,044. The city’s most affordable region is West ($578,922) and the most expensive region is Inner East ($1,127,558).
Outside of the highly desirable Eastern and Inner regions values are remarkably similar across the remaining Melbourne regions.
In fact, only the Inner East, Inner South and Outer East have median values that are higher than that of Greater Melbourne.
<a href="https://www.propertyobserver.com.au/images/2018/11/12/data%203.jpg" target="_blank">Click here</a> to enlarge
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/data%203.jpg" alt=""> 
Brisbane’s median dwelling value is currently $491,925.  While that is substantially lower than Sydney and Melbourne you can see that all of the regions relatively close to the city have current median values which are higher than that.
The most expensive region of the city is the West ($659,554) while the most affordable is Ipswich ($350,511).
Only three SA4 regions of the city actually have a median value which is lower than the city-wide median.
<a href="https://www.propertyobserver.com.au/images/2018/11/12/data%204.jpg" target="_blank">Click here</a> to enlarge
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/data%204.jpg" alt="">
Greater Adelaide’s median dwelling value was recorded at $431,554 as at October making it the nation’s most affordable capital city housing market.
Throughout the city’s four SA4 regions, Central and Hills is noticeably more expensive than the rest and North is noticeably cheaper.
Central and Hills and West are more expensive than the city-wide median and South and North are cheaper.
CAMERON KUSHER is a property research analyst for CoreLogic.
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