The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

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?

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=7FZ1Sk-Vm60JbLwi" title="YouTube video player" width="560"></iframe>

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

<html><body>
Well, more real estate baloney.
This time it is about first home buyers – or the lack of them.
The ABS statistics released today show that first home buyer activity, measured as the proportion of all owner-resident lending, is the lowest in 23 years.
You would have heard all about it on the news tonight or will read about in tomorrow’s papers.
But something is wrong here.
<blockquote>
The fact is, we should all question a lot more of the real estate data that is being fed to us.
</blockquote>
And like many things these days in the real estate world, it’s the figures that are incorrect.  The ‘official’ statistics are measuring only part of the whole, yet very few question the results.
In short, there is a hell of a lot of first home buying taking place.
Most first home buyers buy an established property, and in most places across Australia, first home buyer grants do not apply to established property, only new stock.  And where it does apply, it amounts to very little, and to many it isn’t worth the paper work.
So, for mine, the ABS (along with others) is not correctly corralling first home buying activity.
It is interesting to watch the property intelligentsia trying to explain the reasons for the fall in first home buyer interest, as shown in the first two charts below.
"Generation X are choosing to rent rather than buy – they are buying investment housing instead of homes for themselves – housing is unaffordable so they cannot buy – we need more grant monies"; and it goes on.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-1.jpg"><img class="alignnone size-full wp-image-7359" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-1.jpg" alt="FHB #1"></a>
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-2.jpg"><img class="alignnone size-full wp-image-7360" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-2.jpg" alt="FHB #2"></a>
I think the statistics are wrong.
Why wouldn’t first home buyers be buying?
<ul>
<li>Interest rates are extremely low</li>
<li>Banks are keen to lend</li>
<li>Mum and dad are practically paying for the deposit to get rid of their ‘boomerang’ adult children (at 30, one wonders if ‘children’ should really apply)</li>
<li>Yet according to the same talking heads who claim low first home buyer take-up – housing affordability is the best in over a decade</li>
<li>And to prove that point, there has been little change in the size of the average first home loan in recent years – see my third chart below</li>
</ul>
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-3.jpg"><img class="alignnone size-full wp-image-7361" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-3.jpg" alt="FHB #3"></a>
Late last year the ABS put out a great study – sadly it comes out only every five years or so – called Housing Occupancy and Costs (catalogue number 4130.0 for those who want to read the 92 page document).  This shows that first home buyer activity is much higher than the housing finance loan data suggests.
The HOC study shows that over the past three (3) years (and importantly, covering much of the recent first home buyer slump) just short of 1 million households (988,000) bought a property across Australia.
Of the 988,000 transactions over the last three years, 36% or 355,000 were first home buyers.  Eight out of ten first home buyers (289,000 or 81%) bought a second-hand or established home.  Just 19% bought a new property or something off-plan.
My conversations with real estate agents, including those selling new stock, indicate that first home buyer activity is much higher than the low levels officially reported.
I suspect that first home buying activity is close to the historic average – something around 35% of the total owner-resident market and around 20% of the total housing market, when including investors.  This is what I am seeing on the ground; and it explains the strong sales results across much of the country over the last 12 to 18 months.
First home buyers must be taking part; otherwise those upgrading or downsizing would not be able to sell as fast or as often as they currently are.  It is first home buyers that make up a significant part of the buying audience for their established homes.
It is good to see that others, too, are starting to question the results.
I note that the RBA, in their current chart pack (June quarter), have left off first home buyers in the graph outlining loan activity across the country.  See the last chart on page 6 of <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">this</a> document.  It has been included in previous RBA charts.
Michael Pascoe, too – thinking man that he is – has also questioned the results.  See <a href="https://www.smh.com.au/business/comment-and-analysis/first-home-buyer-statistics-not-adding-up-20140609-39sam" target="_blank">here</a>.
You should too.
The fact is, we should all question a lot more of the real estate data that is being fed to us.
The media – for the most part – aren’t interested in checking the statistics before they regurgitate them.
Much of what you read these days about property is sadly bunkum.
Ohh…….. and don’t get me started on the need for or accuracy of a daily price index or suburban median house/unit prices!
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
</body></html>

michaelmatusik-49YzLvdmNv

Have first home buyers really gone missing?

<html><body>
There are many measures of affordability in the marketplace, sadly I believe that many of these measures fail to accurately depict the affordability or otherwise of housing in Australia.  
The main reason being that housing affordability is an extremely complex issue and many factors drive the affordability of housing. In my future posts I am going to investigate some of these factors and tell you what you should really be asking yourself about affordability when purchasing a home.
Can I start by stating that simplistic means of comparing property prices between countries I believe are ineffective. 
Due to different tax regimes, standards of housing and attitudes to property and wealth accumulation there may be perfectly good reasons why a household is prepared to spend more on housing in Australia for example than they are in the United States.  I think common measures such as the median multiple (ratio of household income to property prices) are not necessarily a good way to measure affordability or otherwise, there are a lot more factors at play.
Interest rates
Interest rates are obviously an important component in determining housing affordability.  When interest rates are lower, interest repayments on home loans are lower and as a result ‘affording’ the repayments on a mortgage should be easier.  Of course, as we are seeing at the moment, lower mortgage rates often encourage higher property values. 
So while it’s true that lower interest rates make housing relatively more affordable, if values are rising and sales increase then it can somewhat off-set the affordability benefit of lower mortgage rates.
Furthermore, the typical home loan in Australia is 25 years and the vast majority of home loans are on a variable rate.  As a result, as the Reserve Bank adjusts monetary policy there is virtually an instant effect on household budgets and balance sheets.  For example, at the moment the standard variable mortgage rate sits at 5.95% however, over the past 10 years the variable mortgage rate has averaged 7.27%, over the last 20 years it has averaged 7.45% and over the past 25 years (the typical home loan length) it has averaged 8.47%. Over the past 25 years, standard variable mortgage rates have been as high as 17.0% and as low as 5.75%.
The point is that interest rates can vary greatly over 25 years and over the life of the loan the current interest rate is not a great means of measuring the cost of a mortgage over its lifetime.
Wages / Income
If you are going to take out a mortgage on a home (as most purchasers do) you are going to need an income and you are going to need some savings.  In Australia there are a number of measures of wages/income and it is difficult to know exactly which one is best to use to measure housing affordability.
The National Accounts measure the ‘Real net national disposable income – chain volume’.  This measure does have a number of shortcomings in that it is not an individual measure and that it includes items that one can’t really spend such as superannuation.  Additionally this data is only available from a national standpoint. 
The Australian Bureau of Statistics (ABS) publishes its wage price index each quarter however, it measures wages only and doesn’t measure income captured from other sources.  The Census is undertaken each five years and does report on the median weekly household income however, the shortcoming here is that it is only updated every five years. 
We also have the Household Income Survey from the ABS however it is only undertaken bi-annually and takes a fairly macro view of household incomes
Unfortunately all of these measures have significant shortcomings which need to be considered when looking at any housing affordability measure.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Labour force / unemployment
Paying off a mortgage eats up a significant portion of a family’s wage.  Undoubtedly if home values weren’t so high and mortgages weren’t so large disposable incomes would be much greater.  Although labour force data or unemployment statistics need not necessarily be an input into any housing affordability measure they are a key consideration for someone looking to purchase. 
The threat of unemployment means that despite the fact housing may seem affordable it is less likely someone would purchase. Obviously if you are unemployed it is going to be difficult to purchase a home.
Another factor to consider is although measures of income show that over recent years wages and disposable income have increased, what they don’t take into account is how many more women are working nowadays.  Labour force data shows that in May 2014, 54.1% of the workforce was male and 45.9% was female, 30 years ago 62.3% was male and 37.6% was female.  Today, 35.5% of full-time workers are female compared to 28.9% 30 years ago. 
The point here is that although household incomes have increased, a big proportion of the increase is due to the structural change associated with a greater number of women in the workforce.  
The rising prevalence of dual income households means that whereas 20 to 30 years ago couples could afford mortgage repayments on a single wage, today they largely require dual incomes.
Home values / prices
Most measures of housing affordability look at median prices or median values. 
The important thing to remember here is that a median is just the middle value so there are just as many homes worth more and less than that figure.  In fact the median price looks only at the middle value of properties which have sold over a period.
This obviously has significant shortcomings because what is predominately selling could be at the affordable or expensive end of the market and this could bias the median one way or another.  Remember that typically only 5% to 7% of total housing stock transacts in a given year.
Another important consideration here is that a national median measure doesn’t really tell you very much at a localised level.  In Australia, 66% of residents live in a capital city with around 55% in Sydney, Melbourne, Brisbane or Perth. 
Quite simply many residents don’t have a choice but to live in a capital city so if you are trying to determine affordability in Melbourne, the cost of housing in Mildura is of no valuable comparison whatsoever.
Rental rates
If you don’t own a home or pay-off a mortgage you have to live elsewhere, for the most part non-homeowners rent.  The cost of renting is an important consideration when trying to determine housing affordability.  If rents are increasing but home values are flat or falling purchasing a home may start to look a more attractive prospect. 
Once again the challenge with a measure which compares rents to house price (or mortgage repayments) is that it is not a localised analysis.  For example for the cost of renting in Paddington in Sydney you may actually be able to pay off a mortgage in Guildford but to the renter is the opportunity cost of owning their own home and being further away from the city centre, harbour and the beaches worthwhile? 
Who knows but for anyone looking to purchase these are the sorts of questions they need to be asking themselves.
The other key consideration is that the ongoing costs associated with owning a home as opposed to renting are difficult to determine, but they are much more than renting.  As a renter, the ongoing costs generally include: the rent, the bond, electricity, gas (if applicable), cleaning (if you move rentals) and the cost of moving if/when you move. 
As an owner of a home the costs incurred include: the mortgage, electricity, gas, council rates, stamp duty when you purchase, ongoing maintenance of the property, strata fees (if you own a unit) and agent fees if/when you decide to move.  The ongoing costs associated with owning a home are much greater than the ongoing costs of renting.
Who does housing affordability affect most?
Housing affordability affects everyone.  The high cost of housing acts as a disincentive for people to move to more appropriate locations, discourages people from upsizing and downsizing and discourages movement intra or interstate for employment.  The group most affected by housing affordability however is those who don’t as yet own a home.
Again if we think about many of the measures of affordability used they look at typical or median prices values and compare to interest rates and typical wages.  The problem with this approach is that very few people are actually typical.  As a generalisation, most people that rent are younger, starting out their careers. 
There is a high likelihood that their wage is currently lower than the median (although there is a good chance it will increase as they are promoted or move jobs).  If their wage is below the typical wage then they should not be looking to buy the typical (or median house).
Of course there are plenty of renters that earn above average wages but choose not to purchase as well but when trying to tackle the affordability question I think many of the measures that we look at are far too simplistic, but hamstrung by the quality and granularity of income data. 
Housing affordability is an individual thing and none of the measures really tell the true story about how affordable or unaffordable housing in Australia is.  When determining whether you can afford to buy a home I think the most important things to consider are:
<ol>
<li>What are current mortgage rates and at what higher level would I not be able to repay my mortgage?</li>
<li>How secure is my job and what would happen if I was to lose my job for an extended period?</li>
<li>Over the next few years what is the realistic expectations for my wage, will it rise and by how much?</li>
<li>What impact would it have if I found a partner or lost a partner on my ability to repay the mortgage?</li>
<li>If I plan to have children, children cost a lot what impact would that have on my ability to repay the mortgage?</li>
<li>Compared to my current rent and associated costs, how much more is paying off a mortgage and the other day-to day costs of home ownership really going to be and can I afford this?</li>
<li>What am I willing to sacrifice in order to buy a home; lifestyle, location, overseas travel etc?  What is the opportunity cost of buying a home?</li>
</ol>
I am sure there are many more questions to ask when looking to purchase but I think as a start these questions are essential.  I say that the measures of affordability which are readily available should be taken with a grain of sale. 
It’s more important to ask yourself some tough questions about whether or not you can really afford to be a home owner.  If you have any doubt you really need to consider whether it is worth the risk or not.
For what it’s worth, I think that housing affordability is a significant issue for young Australians, particularly those within our capital city markets.  he major problem is that most Australian’s choose to build wealth through property and 23 years of unabated economic growth has on exacerbated this. 
The challenge now is how can you deliver affordable housing for younger Australians without bringing down the cost of existing housing which politically and economically would be detrimental to the overall health of the Australian economy.
</body></html>

ckusher-ujnxiKuFQs

Forget affordability measures and ask yourself some tough questions

<html><body>
GUEST OBSERVATION
It’s Saturday morning in West Brunswick, a suburb in Melbourne’s inner north. From my bedroom window I can see a crowd gathering across the road for a house inspection.
The crowd swells to 60 or so people – couples, couples with school-aged children, couples with small babies and then there are small groups of young people, clearly looking for share housing. Surveying the scene I feel like I can predict who my new neighbours might be.
Or, at least I am fairly sure who they won’t be. This semi-renovated three bedroom house has been up for rent three times in the past three years. At $560 per week the rental price is steep, yet each house inspection has attracted crowds like this one. And each time my new neighbours have been couples with a small baby. Young single people did not get a look in.
This is hardly surprising. The scene played outside my bedroom window reflects broader trends. Landlords <a href="https://www.realestate.com.au/blog/finding-the-right-tenant/" target="_blank">want safe bets</a> – people who can pay the rent, withstand rent increases, won’t trash the property and may even improve it.
And in a tight housing market with national demand outstripping supply – especially at the low end of the <a href="https://www.treasury.gov.au/~/media/Treasury/Publications%20and%20Media/Publications/2012/NHSC/Downloads/PDF/housing_supply_affordability_report.ashx" target="_blank">affordability market</a> – and rental vacancy rates <a href="https://www.ahuri.edu.au/housing_information/review/evrev053" target="_blank">between 1% and 4%</a> in capital cities across Australia, most landlords can afford to be choosy.
Young people find it hard to compete, especially in some segments of the rental market. Recent evidence indicates that young people are more likely to be in precarious housing than other age cohorts. They are more likely to be in unaffordable housing, private rental or overcrowded households, and to have recently experienced a forced move. And compared with couples with children they are almost seven times more likely to dwell in housing that is in poor condition.
<a href="https://www.vichealth.vic.gov.au/~/media/ResourceCentre/PublicationsandResources/Health%20Inequalities/Precarious%20housing/Precarious_Housing_Full_FINAL_2August.ashx" target="_blank">Preliminary evidence</a> is also emerging that like other age groups, young people’s experience of precarious housing also impacts negatively on their health and well-being, especially their mental health.
It’s little wonder, then, that young people are leaving home later than previous generations, typically around 23 or 24, often returning to the family home multiple times following job loss, tenancy breakdown or other life crises, before they settle into <a href="https://aifs.org.au/institute/pubs/diversity/DiversityAndChange.pdf" target="_blank">fully independent adulthood</a>.
This social trend has real consequences: for family finances, parent-child relationships and the way young people themselves imagine their place in the world, their rights and responsibilities, as well as their sense of capability, agency and autonomy.
This trend is only likely to increase if the <a href="https://theconversation.com/young-people-are-now-on-the-edge-of-our-reconfigured-welfare-state-26697" target="_blank">proposed changes</a> to the Youth Allowance and Newstart proceed as outlined in the recent federal budget. In a policy first, 30 is defined as the upper age of youth. And young people who finish their education and are looking for jobs – or those who get a job and lose it – will not be entitled to Youth Allowance (up to to the age of 25) or Newstart Allowance (25 years and older) for six months.
On $207 for <a href="https://www.humanservices.gov.au/customer/enablers/centrelink/youth-allowance/payment-rates" target="_blank">Youth Allowance</a> (living away from home) per week or $255 <a href="https://www.humanservices.gov.au/customer/enablers/centrelink/newstart-allowance/payment-rates-for-newstart-allowance" target="_blank">Newstart Allowance</a>, combined with maximum payment of $63 in <a href="https://www.humanservices.gov.au/customer/services/centrelink/rent-assistance" target="_blank">Commonwealth Rent Assistance</a>, young people currently find it extremely difficult if not impossible to access and maintain affordable housing. This will quite simply be impossible if benefits are, as proposed, suspended for six months.
While difficult for those young people who enjoy the support of their families, it is almost impossible for those who lack such support. These are the 22,000 or more young people estimated to be homeless on census night – a figure recognised by the Australian Bureau of Statistics as an underestimation of the <a href="https://www.aihw.gov.au/WorkArea/DownloadAsset.aspx?id=60129545638" target="_blank">actual population</a>.
This lack of support extends to nearly 3,000 young people nationally who are exiting out-of-home care services. A range of evidence suggests that anywhere between 40-60% of these young people will be homeless within a year of leaving care. Currently, it is estimated that 43,000 young people are receiving the youth allowance and living away from home.
These young people, who typically aspire to nothing less than their home-based peers (a house, job, sense of belonging and money to make a life), are <a href="https://www.vichealth.vic.gov.au/~/media/ResourceCentre/PublicationsandResources/Health%20Inequalities/Precarious%20housing/Precarious_Housing_Full_FINAL_2August.ashx" target="_blank">multiply disadvantaged</a> in the housing market. Without the safety net provided by the family they risk free-falling into long-term poverty and disadvantage. Most have low levels of education, with over half in some studies recording their highest level of education as Year 11 or below. Of those who find their way to services, nearly 90% are unemployed or not in the labour force.
We know that these young people are <a href="https://www.bsl.org.au/Social-exclusion-monitor" target="_blank">three times more likely</a> to experience social exclusion. Also compared to full-time employees, unemployed people are around 15 times more likely to be in <a href="https://www.vichealth.vic.gov.au/~/media/ResourceCentre/PublicationsandResources/Health%20Inequalities/Precarious%20housing/Precarious_Housing_Full_FINAL_2August.ashx" target="_blank">unaffordable housing</a>.
Like other homeless populations, these young people have <a href="https://www.aihw.gov.au/WorkArea/DownloadAsset.aspx?id=60129545051">few other housing options</a>. Most do not qualify for public housing, and when they do many languish on long waiting lists for a housing tenure that is widely recognised by policymakers and young people themselves as unsuitable.
Once homeless, some – depending on what area are living in, be it metropolitan, rural or remote – may find temporary refuge for six to 12 weeks in crisis accommodation. Some of these – if they are lucky – may go on to government-funded transitional accommodation for up to 12 months. A tiny number, and arguably the luckiest of all, end up in youth foyers: housing that is combined with tailored education and employment support.
The rest, however, continue to live rough, couchsurf, or try to make a go of it in rooming houses with shared bathroom and kitchen facilities. Increasingly, some find themselves in unregistered rooming houses: ordinary houses in the suburbs in which unscrupulous landlords sublet bedrooms at a premium price. Here, disadvantage is concentrated and a culture of violence and conflict is common. These are hardly the places to build sustainable, independent lives.
With a generation at risk of being locked out of the housing market and a significant minority of these falling through the gaps of the rental market, the need for a national youth housing policy has never been more pressing.
Oh, I almost forgot. We have new neighbours across the road: a couple with a small baby.
Shelley Mallett is professorial fellow in social policy, School of Social and Political Sciences at <a href="https://www.unimelb.edu.au/" target="_blank" style="line-height: 1.3em;">University of Melbourne</a>.
Shelley Mallett has received ARC and AHURI funding in the past. She is general manager, Research &amp; Policy Centre at the Brotherhood of St Laurence.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
</body></html>

po-LsXgBTHBmX

Crowded housing market gives youth little chance for independence

<html><body>
On the subject of off-markets, we buy a fair number – but we reject an awful lot more than we buy.
For the inexperienced buyer, many off-markets are not what they are cracked up to be (by the agents). A number of inexperienced buyers are lured by the romance of an off-market – you know that secret listing that only you know about? However, well down the track the inexperienced buyer can often find that the property was not really for sale.
In other words, an off-market home may look like a duck and you may be told that it is a duck, but it doesn’t always walk like a duck or quack like a duck. And if you can’t buy it, then it isn’t a duck.
How can that be? After all, the agent told you this off-market home was for sale and even took you there. That may be so, but he may be using you just to get a future listing. Or the seller may have told the agent that if he can get 50% more than market <a class="st_tag internal_tag" href="https://marketnews.com.au/tag/value/" title="Posts tagged with value" rel="tag">value</a> he may deal. In these two circumstances we consider the home is really not for sale.
To find out whether an off-market home is really for sale, you need to ask four questions.
Question number one: Does the agent have an authority to sell this home and what is written on the authority? If the agent can’t say yes then it’s not a duck. We recommend you are very careful in your dealings with that agent until they have an authority.
Question number two: Can I have access to the home? If the agent replies that the owner wants a really quiet sale and doesn’t want anybody going through the home or anyone else to know about it, that doesn’t sound like a duck. If you can’t get reasonable access for valuers, for buyer agents or for pest and building inspectors or architects, then it isn’t a duck. The off-market is not really for sale, as any reasonable seller would give you reasonable and timely access.
Question number three: Ask to see the contracts. If you want to put in a reasonable offer and the seller won’t prepare a basic contract (which takes no more than 72 hours and less than $1500 on most normal homes), then this deal is not walking like a duck and quite possibly it’s not really for sale. I wouldn’t make my final offer until I had contracts, no matter how time compelling everything seems to be.
Question number four: Is there an asking price? If the agents answers something like: “Well, she wants $3,000,000 I think. She is being very cagey. Why don’t you just put an offer in and we can go from there?”; and then if you put an offer in and the response is: “It’s not enough”, and then you ask the agent: “okay how much is enough, what does the seller want”, and no clear answer comes from the agent, heaps of excuses, but nothing in writing – guess what, it’s not a duck! It’s not really for sale, so move on – you are wasting your time for now.
Read over page for four signs to help you know if an off-market home is truly for sale
<hr class="system-pagebreak">
We do not pursue off-market homes if we have made good offers and nothing concrete comes back to us. The home is not for sale now – the seller may be just bored an looking for entertainment, wanting to get a “free val” or trying to appease the agent who is pressuring him or her.
You can tell whether off-market home is for sale if:
<ol>
<li>The agent has a written authority to sell</li>
<li>You can get good access</li>
<li>There are or will soon be contracts if negotiations get going</li>
<li>It has a price</li>
</ol>
Even though off-markets may appear very attractive because they are “secret”, if you are a real buyer, it’s important that you only spend your emotional efforts on off-market homes that are really for sale. While you are looking to the left at an off-market that is not really for sale, you may be missing out on an on-market that is drifting down your right side.
So remember the four rule duck test for off-markets and quack, quack, welcome back – let the early spring season bloom for all buyers and sellers.
</body></html>

maljames-vHwm28JUAa

When an "off market sale" isn't really up for sale

<html><body>
RP Data reported that housing momentum continues in 2014, with capital city dwelling prices increasing by 1.2% in January, the figure driven almost exclusively by gains in Melbourne (+3.2%, recovering from 'losses' in recent months), Sydney (+0.8%) and Brisbane (+0.7%).
But the interesting news will be to see how the media chooses to report the rebounding of first home buyers into the market.
There has been an awful lot of commentary about first home buyer numbers falling, with them never to return due to affordability issues and having alternative priorities.
However, soon to be released figures from the Australian Finance Group (AFG) will show first timers surging back into the market.
AFG processed more than $2.5 billion of home loans in January, a large jump of 14% on the prior year.
The percentage of first home buyers jumped from 8.7% to 11.2% in Victoria, while the figure jumped from 21.8% to 24.2% in Western Australia.
First home buyer numbers remain solid in South Australia at 15.5%, while the numbers are clearly lower in the states with no first home buyer grants.
No doubt the resident crash community will instead choose to focus on the nonsensical 3.4% reading for first home buyers in New South Wales; even though it's as clear as daylight that due to the lack of first home owner grant the actual numbers of first timers are not being correctly recorded.
And I say that as someone who is out there in the Sydney housing market every day.
In any case, increasing numbers of first time buyers are choosing to rent where they live and instead buy an investment or rental property as their first step on to the housing ladder. As such, are recorded as 'investors' rather than first time purchasers.
Given the high level of transaction costs in buying and selling property, this can certainly make plenty of sense, especially given that younger generations tend to change jobs (and even careers) far more regularly than was ever the case in decades gone by.
Instead of trading up several times, younger generations may instead elect to get a foothold on the ladder via an investment property, giving themselves to the freedom to rent in different suburbs or take time to travel or work overseas.
Meanwhile the share of fixed rate loans fell to 23.9%, the lowest level in a year, as borrowers anticipate that the interest rate cycle may at last have reached its nadir.
AFG will report that the share of loans for investment purposes in New South Wales has reached the highest level on record at 53.4%.
Demand for property in Sydney in particular is running extremely hot, which will be reflected in more strong capital gains in 2014.
Pete Wargent is the co-founder of <a rel="nofollow" target="_blank" href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a rel="nofollow" target="_blank" href="https://petewargent.blogspot.com/">blogger</a>.
His new book '<a rel="nofollow" target="_blank" href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>' is out now.
 
 
</body></html>

pwargent-M4siyDbqQY

First time buyers rebound into market with home loan surge

<html><body>
First home buyers will return to the property market as governments increase land supply, Stockland managing director Mark Steinert expects.
“We see a proactive focus from governments to improve the land supply that’s going to address the affordability issue,” Steinert said at the group’s half year results briefing last week.
Stockland, which produces small, high density residential properties at low price points, sells about half of the homes it builds to first-time buyers.
Despite low interest rates, first home buyer demand has been subdued as price rises and the removal of government grants for buying established dwellings have made it more difficult to save a deposit.
First home buyers accounted for 12.7% of total owner occupied housing finance commitments in December 2013, Australian Bureau of Statistics data shows.
<img alt="FHB-feb-14" src="/images/stories/2014/02/14/FHB-feb-14.gif" height="256" width="470">
Real Estate Institute of Australia president Peter Bushby said the figure was alarming compared with the long-run average of 19.9%. The REIA has called on governments to help first time buyers back into the market by allowing them to use superannuation savings to buy a home and by reinstating grants.
The Reserve Bank noted in its February Statement on Monetary Policy that demand for established housing was especially weak as changes in state government incentives for first home buyers toward new dwellings and away from established properties had shifted their purchases accordingly.
Housing Industry Association senior economist Shane Garrett said governments would have to further lift constraints on planning for new homes, land supply and infrastructure funding to maintain activity in the market.
“Addressing these issues will do much to improve longer term housing affordability,” Garrett said.
Steinert said there was a large amount of pent up demand from first home buyers for properties and rising prices in inner urban areas were encouraging people to look further out.
“There has been increased activity in the middle to outer rings as people search for a great lifestyle outcome at a competitive price,” Steinert said.
Stockland settled on 2,253 residential lots in the first half of 2014, an increase of 8.1% compared with the first half of 2013. Its revenue from residential property sales to consumers was up by 2.9% to $392 million, the group reported.
“We’ve seen a combination of price increases as well as volume [sales] increases,” Steinert said.
Prices for the group’s properties had increased by 8 to 10% in Sydney, and up to 5% elsewhere, he said. Packages that were previously on offer giving buyers extra such as landscaping included in the sale price were no longer widely available.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
</body></html>

zfielding-GvX3Uq9KTa

As land supply increases, so will first home buyers: Mark Steinert

<html><body>
Forget that supposed over-crowded black Mercedes van carrying around would-be Chinese buyers to prestige Sydney open for inspections.
An Australian expat has snapped up the grand 1904 Mosman merchant home, Rona (pictured above) for $8 million plus ahead of this weekend's Belle Property auction.
Some 60 parties had inspected Rona which sits on a 1,445 square metre Bradleys Head Road block.
The Miller family bought the property back in 1987 for about $2.1 million with the subsequent restoration and modernisation by architect Michael Suttor.
The founder of Millers Self Storage, who sold the business in 1999, now plan spend more time at their beef cattle property near Jugiong.
As I wrote last week, those expatriates are beginning to capitalise on the lower Australian dollar, especially when they are experts in the currency rollercoaster. 
ANZ Singapore based Eddie Listorti recently spent $6.55 million at Palm Beach, for a Sydney northern beaches holiday home. 
Designed by architect Michael Fountain, the three level house (pictured below) comes with 18 metre infinity pool with a floating observation terrace. Positioned on the beach side of Northview Road, with views that span the length of Palm Beach - north to the Lighthouse, south to the rock pool - it was sold by the Doughman family through LJ Hooker Palm Beach agents David Edwards and Amethyst McKee. 
<a href="https://palmbeach.ljhooker.com.au/2JZF6Z" target="_blank" rel="nofollow">It was listed</a> at $7.25 million last October.
<img src="/images/stories/2014/03/11/palm-beach-march-11-breakout.jpg" width="460">
In 2010 Eddie Listorti, former global head of fixed income, currencies and commodities at Dresdner Kleinwort, took the job as head foreign exchange and commodities at ANZ. His title is now ANZ's co-head of fixed income, currencies and commodities in Singapore. 
In 2010 he spent $6.5 million on a Mosman home,  Melleray, the Federation home situated on a 1,975 square metre block a few minutes from Mosman village. 
</body></html>

jchancellor-FAypfDUnLy

Expats emerging from hibernation as Mosman's Rona sold pre-auction for $8 million plus

<html><body>
First-home buyers in Victoria wanting to buy an existing home have just two months to make their purchases and still receive the existing $7,000 first-home owner grant.
The Victorian state government has announced, ahead of its May 7 state budget, that on June 30, it will join NSW and Queensland by ending the long-running handout instead in favour of a bigger $10,000 grant – launching on July 1 - but only for newly constructed houses and apartments under $750,000.
The grant is available to homes and apartments built under a home building contract, built by an owner-builder, purchased off the plan or sold for the first time as a residential premise.
All first-home buyers will benefit from fast-tracked stamp duty savings, which will increase from 30% to 40% on homes valued up to $600,000, beginning on July 1.
The changes to the Victorian first-home owner grant, aimed to assist first home buyers and create jobs in the struggling housing construction industry comes at as the Real Estate Institute of NSW (REINSW) campaigns for the reinstatement of the $7,000 first-home owner grant for existing homes in NSW.
In September last year, Queensland ended its $7,000 first-home owner grant in favour of $15,000 construction grant to buy or build a new home, since renamed the ‘Great Start Grant’.
In October, NSW ended its $7,000 first-home owner grant in favour of a $15,000 grant to buy or build a new home.
With other changes set to occur to different state incentive schemes for first-home buyers over the next six to 18 months, these are the key dates that prospective FHBs need to put into their calendars:
All dates correct as of April 29 2013 and may change with the release of state budgets later in the year.
June 30, 2013 - Victoria
The date the Victorian government ends its $7,000 first-home owner grant. The grant is available if the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
June 30 2013 - South Australia
The $8,000 Housing Construction Grant (HCG) will expire on June 30. It applies to contracts entered into between 15 October 2012 and 30 June 2013, or in the case of owner builders, where construction commenced between 15 October 2012 and 30 June 2013. A property value cap of $450,000 applies.
June 30 2013 - ACT
The Home Buyer Concession Scheme (HBCS), offering stamp duty concession to first-home buyers and anyone else purchasing a new home or residential vacant land under certain thresholds (<a href="https://www.revenue.act.gov.au/home_buyer_assistance">details on the ACT government website</a>), is due to expire on June 30. 
July 1, 2013 – Victoria
The start of the $10,000 grant in Victoria for newly constructed homes. In addition, the state government will also increase stamp duty cuts of 40% for all first home owners (including those buying existing homes) for homes valued up to $600,000. The combination of a $10,000 first-home owner grant and 40% stamp duty cut means that Victorians buying a newly constructed first home for $400,000 will save over $16,500.
January 1, 2014 - NSW
The $15,000 grant for first-home owners who purchase or build a new home in NSW valued at up to $650,000 will reduce to $10,000 from this date.
June 30, 2014 – South Australia
Up until this date, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
June 30, 2014 – South Australia
Stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date. The scheme is available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330.
June 30, 2014 – Tasmania
The $8,000 First Home Builder Boost Scheme grant available to Tasmanians building a new home (including off-the-plan) if the qualify for the first-home owner grant will end on this date.
September 1, 2014 - Victoria
All first home buyers (whether purchasing newly constructed or established homes) will benefit from a 50% stamp duty concession for homes valued up to $600,000.
</body></html>

lschlesinger-FZcF9M3vE6

Victorian government to end $7,000 FHOG: the state-by-state deadlines you need to know

<html><body>
Melbourne postcode 3029 comprising the outlying south-westerly suburbs of Hoppers Crossing and Tarneit received the highest number of applications for the soon-to-be-cancelled $7,000 first-home owner grant over the nine months to March 2013, the Victorian government’s state revenue office has revealed.
The figures come as the Victorian Government announced plans to scrap the $7,000 first-home owner grant on June 30 for existing homes and apartments, replacing it with a $10,000 grant for new homes and apartments only.
These are the Top 10 postcodes for applications the $7,000  first-home owner grant for the nine months from July 1 2012 to March 31 2013:
<img src="/images/stories/2013/04/fhogtop10april29one.jpg" width="470" height="174" alt="fhogtop10april29one">
Source: State Revenue Office
</body></html>

Hoppers Crossing and Tarneit leads Victorian top 10 FHB grant application locations

<html><body>
The most interesting chart in today's RBA chart pack relates to first home buyers.
<a target="_blank" href="https://www.rba.gov.au/chart-pack/household-sector">The chart</a> suggests first home buyers are actually hovering around long term levels after the 2009 spike.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="rba_graph_two" height="322" width="400" src="/images/stories/2013/11/06/rba_graph_two.gif">
Source: ABS
That surge in FHB numbers came after Wayne Swan's GST-triggered First Home Owner Grant Boost.
Naturally that boost brought forward plenty of demand, so it's to be expected numbers would fall after the boost went back to the lower grant levels.
It also followed the re-targeting of the originating FHB grants and/or stamp duty exemptions across the states which are aimed at now encouraging FHBs to buy new homes not estabished homes.
Perhaps FHBs aren't being priced out by property investors?
</body></html>

Latest Expert Insights

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News