ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

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.

[smartcode_project:default project_id=149637 project_image_fid=351027]

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.

[smartcode_project:default project_id=149637 project_image_fid=351031]

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."

[smartcode_project:default project_id=149637 project_image_fid=351024]

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]

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

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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The Colonel is coming to St Kilda in time for summer.
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KFC will offer its famous “11 herbs and spices” fried chicken from the prime corner of Carlisle Street and Acland Street after signing a five-year lease over 90 sqm. 
Fitzroys agent James Spencer negotiated the lease, which includes with a five-year option, for <a href="https://www.realcommercial.com.au/property-retail-vic-st+kilda-502467738" target="_blank">70A Acland Street</a> at $80,000 per annum net.
KFC is currently undertaking its fit-out at the base of the apartment complex. Spencer acted on behalf of a local developer.
<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/2018/10/15/kfc2.jpg" alt="">
 
“KFC wanted to capitalise on being in a prime location opposite Luna Park and McDonald’s, the new Palais Theatre, close to St Kilda beach and at the top of the popular retail and nightlife precinct of Acland Street,” Spencer said. 
“The recent conversion of Acland Street into Melbourne’s newest pedestrian mall made this property a sought-after prospect. 
"It has enhanced the vibrancy of the strip, which remains a popular tourist destination for interstate and overseas travellers, as well as Melburnians, and brought an added buzz to its thriving food and beverage and nightlife offering.” 
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jrobinson-rf4aSBido9

KFC headed for St Kilda's cosmopolitan Acland Street

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Of all the capital cities, Perth remains the one with the weakest clearance rate.
The initial results came in at 13 percent of the homes listed for weekend auction.
Some 32 homes were taken to auction in Perth but only two were confirmed as sold in the 15 available auction results.
There were some 17 auction results still unavailable.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%201.JPG" alt="">
This compares to an overall clearance rate of 50 percent on the 1,850 homes taken to auction across the combined capital cities this week.
Compared to last week, where the final auction clearance rate came in at 49.5 per cent across a slightly lower 1,817 auctions.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%203%20uncut.JPG" alt="">
In Perth <a href="https://www.realestate.com.au/property-house-wa-subiaco-129364294" target="_blank">10 Allora Avenue, Subiaco</a> (pictured above in title), did not sell despite the listing stating "MUST BE SOLD."
The four bedroom two bathroom house is set on a 309 sqm parcel and had no available asking price.
Last sold in 2015 for $1,475,000, the home has been on and off market since 2017 and was listed for rent at $1000 per week as recently as September.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%205.JPG" alt="">
Another home that was unsuccessful at auction in Perth this weekend is <a href="https://www.realestate.com.au/property-unit-wa-highgate-129322870" target="_blank">24/288 Lord Street, Highgate</a> (pictured above).
The "brand new" two bedroom, 1 bathroom unit built in 2015 was asking for offers around $369,000.
Set on 85 sqm the apartment that previously held that space sold for $485,000 in 2013, making this asking price a drop of over $100,000.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%206.JPG" alt="">
Even one of the properties that sold couldn't be classified as a success, <a href="https://www.realestate.com.au/property-house-wa-ascot-129333214" target="_blank">28 The Riverwalk, Ascot</a> (pictured above) was sold by the mortgagees for a loss.
The home sold for $900,000 a loss of $220,000 from its sale price of $1.12 million in 2007.
The four bedroom one bathroom house is set on a 495 sqm block and has been listed on and off since 2010.
<img src="https://www.urban.com.au/images/2018/10/15/CL%20OCT%2014%20AUCTIONS%207.JPG" alt="">
The only other home to succeed in selling was a deceased estate located at <a href="https://www.realestate.com.au/sold/property-house-wa-marangaroo-129344830" target="_blank">39 Mereworth Way, Marangaroo</a> (pictured above).
Set on 720 sqm, the three bedroom one bathroom home is zoned R20/40 and according to the listing has potential for 3 townhouse/units.
Last sold for $99,000 in 1989 the home was sold via an online auction.
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jchancellor-FAypfDUnLy

Perth agents secure just two sales in 13 percent weekend auction success rate

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A 1900s warehouse conversion in Newtown, currently the home to Brewtown Newtown, has been listed for sale.
The property, which began life as an ambulance station for the local area, is set to be traded for the first time in over two decades.
It was 1996 when it was bought for $400,000.
<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/2018/10/15/brew2.jpg" alt="">
Over the years the building at <a href="https://www.realestate.com.au/property-warehouse-nsw-newtown-129510646" target="_blank">6-8 O’Connell Street</a> has also housed an artificial flower business and a bookstore.
Some of the original features have been retained, such as the oregon and steel beams and a large atrium. There's steel framed windows and original staircase and floors.
<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/2018/10/15/brew3.jpg" alt="">
The 390 sqm commercial space a 210 sqm parcel has eight metre O'Connell Street frontage.
LJ Hooker agent Phil Scarlett is marketing the property for a November 13 auction. 
The property has a five + five year lease, with a rental income of $169,000.
<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/2018/10/15/brew4.jpg" alt="">
It is zoned residential, with existing commercial usage rights.
Brewtown Newtown is the brainchild of Simon Triggs and Charles Cameron, who met when working at fellow coffee roasters Toby’s Estate.
Downstairs is the main dining and cafe area, while the upper level plays home to a retail section focused on artisan goods and a bakery.
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Brewtown Newtown premises for sale

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EXPERT OBSERVERS
As virtual reality technology improves, it creates new opportunities for travellers seeking new experiences. This is the latest instalment of our <a href="https://theconversation.com/au/topics/tourism-and-technology-60904" target="_blank">series</a> exploring how technology is changing tourism.
Tourism is often about seeking deeper emotional and personal connections with the world around us. It’s a quintessential part of the “<a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/0047287507304039" target="_blank">experience economy</a>”, creating memories that can be recalled, re-lived and re-shared for a <a href="https://www.emeraldinsight.com/doi/abs/10.1108/TR-03-2017-0041" target="_blank">lifetime</a>.
But not all travel experiences take place in the real world. With the evolution of virtual reality (VR) technology, tourism is increasingly a mash-up of physical and virtual worlds. VR can even remove the need to travel entirely.
Excessive tourism, or over-tourism, in popular destinations can degrade heritage sites, the quality of life of host communities, and the experience of visitors. Virtual reality not only offers alternative forms of access to threatened <a href="https://dl.acm.org/citation.cfm?id=3167974" target="_blank">locations</a>, it also recreates historical experiences and provides virtual access to remote locations you might not make it to otherwise.
<a href="https://images.theconversation.com/files/240186/original/file-20181011-72133-pgadsr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240186/original/file-20181011-72133-pgadsr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Up to 6,000 people were visiting Maya Bay every day before it was closed to tourists. <a class="source" href="https://www.shutterstock.com/image-photo/maya-bay-phi-leh-island-thailand-128142050?src=qbfXg2R67vydk-u6AmL41w-1-9" target="_blank">Shutterstock</a>
<h2>Evoking a sense of ‘being there’</h2>
Our brains seem to have an inbuilt VR-like mechanism that enables us to live <a href="https://www.emeraldinsight.com/doi/abs/10.1108/TR-03-2017-0041" target="_blank">imagined experiences</a>. Much of our waking life is spent thinking about either the past (retrospection) or the future (prospection). This is known as <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3815569/" target="_blank">mind wandering</a>.
During these events we’re not paying attention to the current world around us. Instead, we’re recalling memories, or creating and processing imagined futures.
When we’re engaged in mind wandering, our brains process and appraise mental images via the same <a href="https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1388770?journalCode=rcit20" target="_blank">neural pathways</a> they use to receive stimuli from the real world. So, the imagined past or future can evoke emotions and feelings similar to how we react to everyday life.
VR can elicit these same feelings. Virtual worlds use sensory stimulation and vivid imagery to generate authentic experiences. Immersion in these environments <a href="https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1388770?af=R&amp;journalCode=rcit20" target="_blank">can lead to a deeper understanding</a> of a place or event than simply reading about it or looking at pictures.
There is evidence virtual reality can create absorption, or a state of attention, leading to a sense of “<a href="https://www.researchgate.net/publication/322112864_Determining_Visitor_Engagement_through_Augmented_Reality_at_Science_Festivals_An_Experience_Economy_Perspective" target="_blank">presence</a>” or “<a href="https://www.researchgate.net/publication/312046962_Virtual_Reality_and_Attitudes_Toward_Tourism_Destinations" target="_blank">being there</a>”. After a tourism VR experience of the Great Barrier Reef, for example, <a href="https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1388770?af=R&amp;journalCode=rcit20">participants reported experiencing</a> a sense of relaxation, similar to that gained from travel in real life.
<h2>What VR tourism looks like</h2>
<h3>Choosing a destination</h3>
Immersive videos of Australian holiday destinations created by Tourism Australia have been viewed more than 10.5 million times over the past two years. Research conducted by <a href="http://www.tourism.australia.com/content/dam/assets/document/1/6/y/7/t/2003897.pdf" target="_blank">Tourism Australia</a> shows that almost 20% of consumers have used VR to choose a holiday destination, while about 25% plan to use VR to choose a future destination. There is evidence VR can sometimes <a href="https://www.researchgate.net/publication/314949464_Understanding_Virtual_Reality_in_Marketing_Nature_Implications_and_Potential" target="_blank">surpass reality</a>, potentially leading the participant to choose an alternate destination.
<iframe src="https://www.youtube.com/embed/t88g8sZaVi4?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> A 360 degree video of Stokes Bay on Kangaroo Island in South Australia.
<h3>Sustainability</h3>
In March, Thai authorities closed sections of the famous Maya Bay (which featured in Hollywood movie The Beach) because over-tourism threatened coral reefs. VR could offer experiences of locations like this without impacting the natural environment. It could also help support capacity management at “bucket list” destinations, such as Machu Picchu. But if VR is too effective at reducing visitation, alternate forms of income for local people need to be developed to support economic viability.
<iframe src="https://www.youtube.com/embed/RhQY6sKmEo0?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Visiting Machu Picchu.
<h3>Historical recreations</h3>
In 2018, the Australian War Memorial brought the <a href="https://www.awm.gov.au/hamelvr" target="_blank">Battle of Hamel</a> to virtual life using 3D and 360 degree video. Designers of the A$100 million Sir John Monash Centre in Villers-Bretonneux, France used immersive video, interactive touch screens and historical relics to <a href="https://www.smh.com.au/world/europe/sir-john-monash-world-war-i-recreation-so-real-it-will-make-you-cry-20180422-p4zazg" target="_blank">recreate the soldiers’ experience</a> on the Western Front during WWI. Similar work is being completed in regional Australia to recreate life on a US Airbase on “the Brisbane Line” – Australia’s controversial last point of defence in WWII.
<iframe src="https://www.youtube.com/embed/GlNPUZbccrQ?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Audiences can immerse themselves in the key action fought on 4 July 1918 on the Western Front via VR.
<h3>Access to remote areas</h3>
Wildlife watching can elicit <a href="https://www.youtube.com/watch?v=Q6AiIK2huHU" target="_blank">feelings</a> of empathy, surprise, novelty, even fear. It can also generate excitement, stimulation, entertainment and learning. But government regulation, cost, remoteness and seasonality of migratory patterns may limit opportunities for people to encounter some of the awe-inspiring creatures on our planet. Virtual immersion can offer alternatives that support conservation goals and provide transformative visitor experiences.
<iframe src="https://www.youtube.com/embed/JApQBIsCK6c?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Birdly is a flight simulator that uses arm holsters and 3D goggles to give a person the feeling of a bird soaring above ground.
<h2>Enhancing health and wellbeing</h2>
VR tourism could also help to increase health and well-being. Long working hours can lead to anxiety and depression. Research demonstrates <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/1467358416638918" target="_blank">immersion in the outdoors</a> encourages relaxation, rejuvenation, expectation, surprise, trust in oneself, and improved self-esteem that can contribute to reduced symptoms. Short breaks using tourism-based VR experiences can mirror these effects and improve health.
<iframe src="https://www.youtube.com/embed/ZW3AiBjuH08?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Tourists encounter whales in the wild and are treated to a spectacular display.
New possibilities for VR <a href="https://www.sciencedirect.com/science/article/pii/S0261517709001332" target="_blank">applications</a> – both practical and pleasurable – are emerging as the technology evolves. And as travellers seek new and novel experiences, combining virtual with real world experiences may become a common feature of tourism in the future.<img src="https://counter.theconversation.com/content/101258/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/vikki-schaffer-531166" target="_blank">Vikki Schaffer</a>, Program Co-ordinator and Lecturer, Tourism, Leisure and Event Management, <a href="http://theconversation.com/institutions/university-of-the-sunshine-coast-1068" target="_blank">University of the Sunshine Coast</a>; <a href="https://theconversation.com/profiles/alexandra-bec-541089" target="_blank">Alexandra Bec</a>, Postdoctoral research fellow, <a href="http://theconversation.com/institutions/university-of-the-sunshine-coast-1068" target="_blank">University of the Sunshine Coast</a>; <a href="https://theconversation.com/profiles/brent-d-moyle-541088" target="_blank">Brent D. Moyle</a>, Associate Dean (Research), Faculty of Arts Business and Law / A/Professor of Tourism, USC Business, <a href="http://theconversation.com/institutions/university-of-the-sunshine-coast-1068" target="_blank">University of the Sunshine Coast</a>, and <a href="https://theconversation.com/profiles/noel-scott-282162" target="_blank">Noel Scott</a>, Professor at the Institute of Tourism, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</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/vr-technology-gives-new-meaning-to-holidaying-at-home-but-is-it-really-a-substitute-for-travel-101258" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Can VR technology be a substitute for travel?

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EXPERT OBSERVER
Total housing finance was lower as expected back in August at $30.67 billion in seasonally adjusted terms, well down from the peak of above $34 billion a year earlier.
The Reserve Bank of Australia posted some useful insights on household finances, financial stress (or rather the lack of it), and the impact of tighter lending standards on loan sizes.
The RBA doesn't always help itself when citing very old data, but made some handy insights on borrowing capacity, specifically noting how most loans are made significantly below borrowing capacity.
In the surveyed figures only about 13 per cent borrowed 90 per cent or more of the maximum amount potentially available, while some two-thirds borrowed only 70 per cent or less of their capacity (thereby implying that tighter lending standards only impact some borrowers).
This was to some extent borne out by the housing finance data, with average loan sizes having continued to rise for owner-occupiers to be significantly higher than a year earlier, including in all three of the most populous states.
The borrowers most likely to be materially impacted by tighter lending standards include portfolio investors, and this is also reflected in the totals for investment loans.
The monthly trend result for investment loans has fallen from $14 billion at the 2015 peak to $10 billion, suggesting that the best performing properties are likely to be those actively sought by homebuyers (and the worst, investment units designed primarily for leasing).
More interest-only loans were reset in the third quarter.
Non-banks have been picking up more business, as expected.
With construction loans and the number of new dwellings financed now in decline new supply will be dropping off in time.
First homebuyers continued to account for about 18 per cent of new home loans, partly driven by incentives.
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>.
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Housing finance squeezed in August: Pete Wargent

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EXPERT OBSERVER
Key points
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<div class="column">1. The current pullback in shares has been triggered by a range of things – but most notably worries about rising US interest rates and the US/China conflict.</div>
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 2. Shares may still have more downside, but we are of the view that it’s just another correction.</div>
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 3. Key things for investors to bear in mind are that: corrections are normal; in the absence of recession, a deep bear market is unlikely; selling shares after a fall locks in a loss; share pullbacks provide opportunities for investors to buy them more cheaply; while shares may have fallen, dividends haven’t; and finally, to avoid getting thrown off a long-term investment strategy it’s best to turn down the noise during times like this.</div>
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Rough Patches
Every so often shares go through rough patches. We saw this most recently around February on the back of US inflation and interest rate concerns and the start of US tariffs which saw US shares and global shares fall roughly 10% and Australian shares fall 6%. Shares mostly recovered – even getting through the seasonally weak months of August and September surprisingly well – with US shares making new records and Australian shares hitting a ten-year high, but the worry list has returned again with US, global shares and Australian shares now down around 7% from their recent high. This note looks at the issues for investors and puts the falls into context.
What’s driving the latest plunge?
The recent plunge reflects a range of factors.
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<li>Investors have started to worry again that the very strong US economy will push the Fed into tightening a lot more and that this will cause a further sharp rise in bond yields which will threaten growth and share market valuations.</li>
<li>The trade conflict between the US and China is continuing to intensify and spilling over into other areas.</li>
<li>Technology shares, which have been key drivers of the US share markets rally (and outperformance) have been vulnerable – being somewhat overvalued and facing increased regulation in the US (which is something that President Trump has been threatening).</li>
<li>Rising oil prices due to strong global demand and threats to supply have added to concerns about inflation and growth.</li>
<li>Problems in the emerging world partly due to rising US interest rates poses a threat to global growth as reflected in a recent downgrade to the IMF’s global growth forecasts.</li>
<li>Nervousness remains in the US around President Trump and the Mueller inquiry and the upcoming US mid-term Congressional elections.</li>
<li>Tensions in the Eurozone regarding the Italian budget are weighing on European shares.</li>
<li>October is also known for share market volatility and this October is the 31st anniversary of the 1987 crash which often seems to create a bit of apprehension.</li>
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Because shares have fallen rapidly they are technically oversold and so could have a short-term bounce. But given that many of these issues could get worse before they get better the risk is that the pullback has further to go.
Considerations for investors
Sharp market falls with headlines screaming that billions of dollars have been wiped off the share market (funny that you never see the same headlines on the way up!) are stressful for investors as no one likes to see the value of their investments decline. However, several things are worth bearing in mind:
First, periodic corrections in share markets of the order of 5- 15% are healthy and normal. For example, during the tech/dot. com boom from 1995 to early 2000, the US share market had seven pull backs greater than 5% ranging from 6% up to 19% with an average decline of 10%. During the same period, the Australian share market had eight pullbacks ranging from 5% to 16% with an average fall of 8%. All against a backdrop of strong returns every year. During the 2003 to 2007 bull market, the Australian share market had five 5% plus corrections ranging from 7% to 12%, again with strong positive returns every year. More recently, the Australian share market had a 10% pullback in 2012, an 11% fall in 2013 (the taper tantrum), an 8% fall in 2014, a 20% fall between April 2015 and February 2016 and a 7% fall earlier this year all in the context of a gradual rising trend. And it has been similar for global shares, but against a strongly rising trend. See the next chart. While they can be painful, share market corrections are healthy because they help limit a build-up in complacency and excessive risk taking.
<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/2018/10/12/AMP%201.jpg" alt=""> 
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Related to this, shares climb a wall of worry over many years with numerous events dragging them down periodically, but with the long-term trend ultimately up &amp; providing higher returns  than other more stable assets. Bouts of volatility are the price we pay for the higher longer-term returns from shares.
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Second, the main driver of whether we see a correction (a fall 5% to 15%) or even a mild bear market (with say a 20% decline that turns around relatively quickly like we saw in 2015-2016) as opposed to a major bear market (like that seen in the global financial crisis (GFC)) is whether we see a recession or not – notably in the US. The next table shows US share market falls greater than 10% since the 1970s. I know it’s a bit heavy – but I like this table! The first column shows the period of the fall, the second shows the decline in months, the third shows the percentage decline from top to bottom, the fourth shows whether the decline was associated with a recession or not, the fifth shows the gains in the share market one year after the low and the final column shows the decline in the calendar year associated with the share market fall. Falls associated with recessions are highlighted in red. Averages are shown for the whole period and for falls associated with recession at the bottom of the table.
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Several points stand out. First, share market falls associated with recession tend to be longer and deeper. Second, falls associated with recessions are more likely to be associated with negative total returns (ie capital growth plus dividends) in the associated calendar year as a whole. Finally, as would be expected the share market rebound in the year after the low is much greater following falls associated with recession.
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So whether a recession is imminent or not in the US is critically important in terms of whether we will see a major bear market or not. In fact, the same applies to Australian shares. Our assessment remains that US/global recession is not imminent:
• Still high levels of business and consumer confidence globally are only just starting to help drive stronger consumer spending and business investment.
• While US monetary conditions have tightened they are far from tight and they are still very easy globally and in Australia (with monetary tightening still a fair way off in Europe, Japan and Australia). We are a long way from the sort of monetary tightening that leads into recession.
• Fiscal stimulus will boost US growth into next year, partly offsetting Fed rate hikes.
• We have not seen the excesses – in terms of debt growth, overinvestment, capacity constraints and inflation – that normally precede recessions in the US, globally or Australia.
Reflecting this, global earnings growth is likely to remain reasonable providing underlying support for shares. So, for all these reasons its likely that the current pull back is more likely to be a correction rather than a major bear market.
Third, selling shares or switching to a more conservative investment strategy or superannuation option after a major fall just locks in a loss. With all the talk of billions being wiped off the share market, it may be tempting to sell. But this just turns a paper loss into a real loss with no hope of recovering.
Fourth, when shares and growth assets fall they are cheaper and offer higher long-term return prospects. So, the key is to look for opportunities the pullback provides. It’s impossible to time the bottom but one way to do it is to average in over time.
Fifth, while shares may have fallen, dividends from the market haven’t. So the income flow you are receiving from a well- diversified portfolio of shares remains attractive, particularly against bank deposits.
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Sixth, shares and other related assets often bottom at the point of maximum bearishness, ie just when you and everyone else feel most negative towards them. So the trick is to buck the crowd. “Be fearful when others are greedy. Be greedy when others are fearful,” as Warren Buffett has said.
Finally, turn down the noise. At times like this, negative news reaches fever pitch. Talk of billions wiped off share markets and warnings of disaster help sell copy and generate clicks and views. But such headlines are often just a distortion. We are never told of the billions that market rebounds and the rising long-term trend in share prices adds to the share market. Moreover, they provide no perspective and only add to the sense of panic. All of this makes it harder to stick to an appropriate long-term strategy let alone see the opportunities that are thrown up. So best to turn down the noise and chill out – yeah, I agree it’s sometimes easier said than done, but still!
Dr Shane Oliver Head of Investment Strategy and Chief Economist AMP Capital
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The pullback in shares - seven things investors need to keep in mind: Shane Oliver 

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EXPERT OBSERVER 
This month’s small gain follows a 5.2% fall through August and September. During that period the boost from the tax cuts announced in the May budget had faded while the leadership change; mortgage rate increases; declining house prices and rising petrol prices were weighing on confidence.
It is encouraging that these negatives seem to have, at least for the time being, run their course. Several positives have likely helped stabilise the Index, including strong economic growth, a solid labour market and ongoing recoveries in the previously weak mining states.
The net effect has seen the headline index holding slightly above the 100 line indicating that optimists are just outnumbering pessimists. The slight ascendency of optimists has been the case for 11 consecutive months since December 2017. That contrasts with the previous 12 months between December 2016 and November 2017 when the Index registered below 100 for 11 of those 12 months.
Concerns around interest rates and house prices are still apparent. The sub-group detail showed sentiment amongst households with a mortgage continued to weaken in October, dipping a further 0.8% to be down 6.4% over the last two months. Interestingly, the breakdown by voter group suggests some of the negative sentiment impact from the change in Prime Minister in late August may have reversed with confidence amongst those identifying as Coalition voters recovering about two thirds of the 6.4% drop recorded in September.
Most index components recorded small gains in October. Assessments of family finances showed the most promising revival. The ‘finances vs a year ago’ sub-index rose 2.6% to be comfortably above levels this time last year, albeit still a couple of percentage points below the highs seen earlier this year. The forward view is less convincing. The ‘finances, next 12 months’ sub-index only edged up 0.6% and is 4.1% below its high following the announcement of the tax cuts in the Budget in May.
Consumer expectations for the economy also showed mixed moves. The ‘economic outlook, next 12 months’ sub-index posted a solid 2.3% rally but longer term expectations continued to soften. The ‘economic outlook, next 5years’ sub-index is now down 9.1% from the five year high recorded back in July.
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Spending-related sentiment showed little change on the relatively downbeat tone in recent months. The ‘time to buy a major household item’ sub-index inched 0.1% higher but is still around the lowest levels seen since November last year.
Labour market expectations, which were a notable bright spot in the weak September survey, softened a touch in October. The Westpac Melbourne Institute Unemployment Expectations Index lifted 1.7% (recall that higher reads mean more consumers expect unemployment to rise in the year ahead). Despite this, the index still shows a clear improvement from the softer reads through June-July-August with a solid 5% improvement on a year ago. Most of this is coming from a more balanced performance across the major states, with a particularly dramatic turnaround in labour market expectations in Western Australia.
<a href="https://www.propertyobserver.com.au/images/2018/10/10/consumer%20sentiment%202.jpg" target="_blank">Click here</a> to enlarge:
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Consumer views around housing continue to deteriorate. The ‘time to buy a dwelling’ index slipped a further 0.9% following September’s 4.8% fall, unwinding all of the 5.5% gain in August. Despite the weakening, buyer sentiment is still well above the lows seen through mid-2017.
Consumer expectations for house prices posted another sharp fall in October. The Westpac Melbourne Institute Index of House Price Expectations dropped 7.4% to 101.4, taking the index below its 2015 low point to the weakest level since the first month the survey question was run, in May 2009. The state detail showed a particularly sharp 20.3% drop in Victoria, suggesting the price correction in Melbourne, which has been slower to come through than in Sydney, is starting to bite.
Bill Evans is the Chief Economist for Westpac
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bevans-rYk9SxEa4r

Consumer sentiment stabilises: Bill Evans

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Crown Group has revealed its latest development.
Mastery by Crown Group, is a collaboration between Japanese architect Kengo Kuma and award-winning local architect Koichi Takada, who has worked before with the developer.
The five-building development has its centrepiece the building by Kengo Kuma, an eye-catching 20-storey tower featuring a striking plant-filled, green exterior designed to emulate a stacked forest.
The remaining four buildings consist three buildings designed by Koichi Takada Architects and a building designed by Sydney-based architects Silvester Fuller.
Crown Group chairman and CEO Iwan Sunito said his vision for Mastery by Crown Group was for it to become a vibrant and diverse community.
He expects between 60 percent and 70 percent will be local buyers.
Located at <a href="https://apartments.masterybycrowngroup.com.au/?gclid=CjwKCAjw0oveBRAmEiwAzf6_rKofth171Thr3RCELoFuZSRybMmpbUPwoRRuj7c6wDlqAdNLuPMohRoCbKcQAvD_BwE" target="_blank">48 O’Dea Avenue Waterloo, Mastery by Crown Group</a> will comprise 384 luxury apartments.
There will be resort-style residents amenities including an infinity-edge cantilevered rooftop pool, gym and community room and a ground-floor retail precinct comprising a mix of restaurants, cafes and shops.
Crown Group will begin accepting expressions of interest later this week with apartment sales to begin November 17.
Construction is scheduled in various stages for completion by 2021.
<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/2018/10/15/masters3.jpg" alt="">
Since Sunito co-founded Crown Group with business partner Paul Sathio in 1996, Crown Group has since built a portfolio of projects under construction and in the pipeline worth $5 billion.
“With Mastery by Crown Group, we are creating a new urban hub,” Mr Sunito said.
It was a great coup to have both Kengo Kuma and Koichi Takada collaborating on the project, Mr Sunito said.
“Kengo Kuma and Koichi Takada each have their own unique style and ethos and are true leaders in their field, renowned for their creativity,” Mr Sunito said.
Kengo Kuma founded Kengo Kuma and Associates, Inc. in his home nation Japan in 1990. Last year the company made its first foray into Australia designing The Darling Exchange, a six-storey public building in Darling Harbour followed by a 25-storey hotel in Sydney’s Circular Quay.
Kengo studied at Columbia University in New York City and made last year’s Dezeen Hot List.
The “stacked forest” apartment building at the heart of Mastery by Crown Group will be Kengo Kuma and Associates’ first residential project in Australia.
“Our intention is to give a warm and a natural atmosphere to the community with unique design strategies,” Mr Kuma said of the 19-storey residential tower.
“The upper volume of the tower seamlessly transforms into the lower part of the stepped terraces in order to create an intimacy between the building scale and the pedestrian scale on the street level.
“Eaves wrapping the façade are covered by sticks which give a warm impression of the wood to the façade.
“The entire façade becomes a vertical urban forest by having vegetation on each eave,” Mr Kuma added.
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Japanese-born Sydney-based architect Koichi Takada has designed three of the five buildings at Mastery by Crown Group.
Takada began his career in Tokyo and moved to Sydney in 1997. His firm Koichi Takada Architects has won multiple awards for its residential, retail and hospitality designs.
“It is my honour to work alongside Kuma sensei, the Japanese master of architecture. It is a dream come true,” Mr Takada said.
“I drew on an idea of ‘green luxury,’ finding inspiration in nature. Each building is designed with a ‘human touch’ to express its organic and distinct architectural character.
“Responding to Kengo Kuma’s vision for the tallest of the five buildings, I am excited to design three low-rise buildings that create a dynamic architectural dialogue within the precinct,” Mr Takada added.
Mastery by Crown Group sits within the City of Sydney’s Green Square redevelopment precinct; 5km from Sydney’s CBD, 3km from UNSW and 7km from Sydney’s Airport.
With more than 40,000 jobs expected to be created in the Green Square area by 2030, the development will be home to hundreds of new Waterloo residents when completed in 2021.
For more information <a href="https://apartments.masterybycrowngroup.com.au/?gclid=CjwKCAjw0oveBRAmEiwAzf6_rKofth171Thr3RCELoFuZSRybMmpbUPwoRRuj7c6wDlqAdNLuPMohRoCbKcQAvD_BwE" target="_blank">click here.</a>
 
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Green luxury on offer as Crown seeks Mastery buyers 

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More than half of the homes being auctioned over recent weekends are failing to sell under the hammer as home loans have become tougher to secure.
It seems set to happen for a third consecutive weekend, CoreLogic forecast after the initial weekend results.
But as the tide turns, the season’s first beach bathing box auction on Melbourne's Port Philip Bay saw a $230,000 sale (top).
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The sale was $15,000 above the reserve price for <a id="LPlnk428203" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-safety+beach-129325854" target="_blank" data-auth="NotApplicable">No. 47 beach box</a><a id="LPlnk257994" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-vic-safety+beach-129325854" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> </a>at Safety Beach, on the Mornington Peninsula.
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The auction kicked off with a $180,000 bid, with three bidders competing when auctioned through Ray White Rosebud agent Shane Fox.
There were 1,850 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 50.7 per cent.
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"It’s likely that the final result will see its usual downward revision as more results are collected and come in below 50 per cent for the third consecutive week," CoreLogic auction analyst Kevin Brogan said.
Last week, the final auction clearance rate came in at 49.5 per cent from 1,817 auctions.
Last year, both clearance rates and volumes were significantly higher with 67 percent of the 2,525 auctions finding buyers under the hammer.
Units were much more successful at weekend auction with 58 per cent selling, while only 48 per cent of houses sold, while the same week last year saw virtually the same success rate.
AMP Capital's chief economist Shane Oliver suggested the spring 2018 auction trend was consistent was "further falls in home prices."  
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There were 914 auctions held in Melbourne with a preliminary clearance rate of 52.1 per cent.
Deepdene had Melbourne's priciest result with a $2.7 million sale.
The home at <a id="LPlnk857606" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-deepdene-129323778" target="_blank" data-auth="NotApplicable">4 Abercrombie Street</a> (below) had been on the market several months ago initially with a $3 million price guide which was then reduced for the auction to $2.4 million to $2.6 million hopes.
<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/2018/10/15/deepd.jpg" alt="">
Another sale was a Safety Beach waterfront vacant lot with its own pontoon and 15m berth
The block at <a id="LPlnk909652" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-residential+land-vic-safety+beach-202220766" target="_blank" title="www.realestate.com.au" rel="noopener noreferrer" data-auth="NotApplicable">32 Clipper Quay, Safety Beach</a> in the Martha Cove estate sold at an undisclosed price having been listed with $1.795 million to $1,974,500 expectations. 
The Prahran investment property of former WMTA Light Heavyweight World Thai boxing champion Nick ‘‘Special K’’ Kara remains for sale (below).
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Jellis Craig father-son agents Chris and Michael Hingston had a $1.25 million to $1.35 million price guide for its weekend auction.
The contemporary three bedroom Edwardian property at <a id="LPlnk535512" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/16-fern-avenue-prahran-vic/property-details-buy-residential-12107313/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">16 Fern Avenue</a> last sold at $322,500 in 1999.
Sydney was host to 645 auctions this week with preliminary results showing a clearance rate of 52 per cent.
Sydney's highest auction price was $4.35 million for a newly built house (below) at <a id="LPlnk620364" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/2-mirrabooka-avenue-strathfield-nsw/property-details-buy-residential-12113096/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Mirrabooka Avenue, Strathfield</a>.
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The five bedroom, six bathroom home, on 700 sqm, came with a home theatre and a wine cellar.
Across the smaller auction markets, the highest preliminary clearance rate was recorded in Canberra where 63.6 per cent of the 55 reported auctions were successful, followed by Adelaide were 53.3 per cent of homes sold.
Brisbane, where there was a 35 percent clearance rate, secured the nation's cheapest home sale.
It was a $281,000 sale of three bedroom house at <a id="LPlnk599267" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-kallangur-129272198" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">15 Boyanda Drive, Kallangur</a>.
The two level home is 25km to Brisbane City, and a short drive to the North Lakes City.
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Safety Beach bathing box sale headlined weekend auction results

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A recently opened boutique grocer in Sydney’s Milsons Point has been listed with $5.5 million hopes.
The property at 88 Alfred Street is run by QE Foodstores and is the group’s ninth offering, with other stores in Balmain, Camperdown, Darlinghurst, Newtown, Randwick, Waterloo and Waverley.
It is set to go under the hammer in early November.
Interest is expected from local, interstate and offshore investors, said Savills Australia’s David Hickey, Tom Tuxworth and Nick Tuxworth.
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“The new 10-year lease with two five-year options to renew and strong annual increases will attract buyers from local, national and international markets looking for secure, super-prime investments in the sub-$10 million category,” Hickey said.
“Throughout 2018, we have seen a weight of capital chasing retail properties in prime locations, particularly in highly populated and affluent inner-urban and suburban areas.
“Investors are certainly looking for quality over quantity in the current market, and 88 Alfred Street fits that category.” 
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He said QE Foodstores owners had recognised a gap in the Lower North Shore retail market for a boutique grocery store.
“QE Foodstores took a strategic view on the local Milsons Point, Kirribilli, McMahons Point and Blues Point precinct when they noticed the community had been starved of a quality supermarket for a very long period of time,” Mr Hickey said.
“The business decided to venture to Sydney’s North Shore and open its ninth grocery store to cater to this pent-up demand for fresh, quality and artisan produce.
“At 88 Alfred Street, the store benefits from being situated in Sydney’s second most-liveable suburb, only a 10-minute walk from the Sydney CBD and North Sydney.
“These shoppers demand personalisation, special services and quality products, which is what QE Foodstores has strived to deliver since opening its first store 16 years ago,” he said.
“The owners’ goal is to keep growing and provide a great range of products and services to many more Sydney neighbourhoods.
“They are constantly on the lookout for new sites in the inner city and east, and they’re now very seriously considering additional sites on the Lower North Shore.”
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