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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EXPERT OBSERVATION
Mid-sized companies and international shares have out-performed ‘Mums and Dads’ stocks over the past five years.
It is useful for investors to understand how different asset classes are performing as it may highlight opportunities.
Smaller returns from major Australian companies
Many Australians got their start in the share market through privatisations and demutualisations. That is, companies like Telstra, AMP, Colonial, Commonwealth Bank, Suncorp, Qantas and state betting agencies like TAB (NSW). Some retail investors have held on to these stocks over time and perhaps added modestly to their holdings with positions in other domestic companies. For others, the initial investment may have sparked broader interest with investors adding to their portfolios with domestic and international investments and perhaps positions in options and futures.
In 1999, CommSec devised an index called the Mums and Dads index to highlight the performance of retail investors who got their start in the share market through demutualisations, privatisations or ‘household names’ like Woolworths. The current composition of the CommSec Mums and Dads index is Telstra, Commonwealth Bank, Woolworths, Qantas, AMP, Tabcorp, Suncorp, IAG and Wesfarmers.
Until around five years ago, total returns on the CommSec Mums &amp; Dads index (share prices and dividends included) closely tracked total returns on the broader index – the All Ordinaries accumulation index. But over the past five years, the All Ords accumulation index has lifted around 82% while the CommSec Mums and Dads index has lifted by just 35%.
Mid-sized companies gain favour
One of the out-performing areas over the past five years has been the mid-tier companies. Since mid-2013 the MidCap50 accumulation index has doubled in value. As noted above, over the same period the All Ords accumulation index lifted by around 82% while returns on the CommSec Mums and Dads index rose by just 35%.
The MidCap50 includes a number of ‘new wave’ stocks as well as ‘disruptors’ – companies challenging those with far bigger market size or capitalisation – that is, the ‘big cap’ companies. Notable mid-tier companies include A2 Milk, Dominos, Flight Centre, JB Hi-Fi and Resmed.
On a shorter-term comparison, since the start of 2018 the All Ordinaries accumulation index has lifted by 6% (ASX 200 accumulation +5.9%) while the MidCap50 accumulation index has lifted by 6.6%. By comparison the CommSec Mums and Dads index has risen by just 1.6%.
However just as investors constantly need to track the performance of their domestic portfolios – especially the influence of new themes or paradigms – there is also the need to take a broader perspective. Considerations include the differing performance of domestic industries or sectors to those abroad.
Global shares have certainly performed strongly over recent years. The US Dow Jones and S&amp;P 500 indexes have hit record highs in the past month. And the Japanese Nikkei 225 index hit 27-year highs yesterday.
<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/2018/10/2/commsec%201.jpg" alt="">
Global shares
Five or 10 years ago it was more difficult for retail investors to invest in individual companies that were listed on overseas share markets. To gain overseas exposure, investors tended to favour managed funds.
Today, retail investors have much more flexibility to invest in individual companies on overseas exchanges, or via exchange traded funds (ETFs) and managed funds. Australia accounts for just 2% of world share market capitalisation, so there is a raft of opportunities outside our borders. One complication is the need to take into account currency fluctuations. Since the currency was floated, the Australian dollar has fluctuated on average by US14 cents a year against the greenback, although there has been less volatility in recent years
One way of measuring the performance of the ‘world share market’ is by reference to an index. And one of the best known indexes is that compiled by Morgan Stanley Capital International (MSCI).
The MSCI World Index, is described as: “A broad global equity index that represents large and mid-cap equity performance across 23 developed markets countries. It covers approximately 85% of the free float- adjusted market capitalisation in each country and MSCI World Index does not offer exposure to emerging markets.” 
The world MSCI can be tracked through finance websites on a daily basis as well as wire services and adjustments can be made for dividends and currency fluctuations.
Over the past five years the world MSCI in US dollar terms has risen by 41% with total returns (measured by the accumulation index) up by 56%. By comparison, in Australian dollar terms the MSCI Australian index rose by 17% and 42% respectively over the period.
But when you adjust the world MSCI for currency changes – convert the index to Australian dollar terms – the out- performance is enhanced even further. Over the past five years the world MSCI has lifted by 83% in Australian dollar terms with total returns up 101%.
<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/2018/10/2/commsec%202.jpg" alt="">
Shorter-run returns
As always the time comparison chosen may affect the results obtained. And with international shares, changes in the value of the US dollar can significantly impact the results.
Looking back since the index was constituted in May 2000, and assessing returns in Australian dollar terms, returns on the ASX 200 have risen four-fold whereas returns on the world MSCI have doubled. So on a long-term basis the Australian share market has out-performed global shares.
However, looking over the past decade, Australian dollar returns for both the ASX 200 and the world MSCI tracked closely, especially up to 2014. But in the past four years the world MSCI broke away, lifting by 68% while the ASX 200 has risen by only 39%.
Further, since the start of 2018, the world MSCI accumulation index in Australian dollar terms has lifted by around 14%, well ahead of returns of around 6% for the Australian market.
<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/2018/10/2/commsec%203.jpg" alt="">
<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/2018/10/2/commsec%204.jpg" alt="">
The US out-performs
The Dow Jones index is probably the best known of the US equity indexes. Other indexes include the S&amp;P 500, Nasdaq Composite and Russell 2000. And while the price index – the Dow Jones Industrial average (DJIA) – is commonly quoted, there is also a total return index for the Dow.
Up until the end of September the DJIA rose by 7% and total returns (includes dividends) lifted by 10% while returns on the index in Australian dollar terms have lifted by around 18%.
By comparison, in local currency terms the ASX 200 rose by 2.3%, the All Ords lifted 2.6% and total returns on Australian shares have increased by around 6%.
Certainly the US economy has performed strongly with annual economic growth sitting at 4.2%, unemployment near 18-year lows and inflation sitting at just 2%. However the old adage applies for the share market – past performance is no guarantee of future returns.
The US Dow Jones has made solid returns – especially over the past two years, averaging annual growth near 22% and well out-performing the Australian market.
While the US economy is performing strongly, the budget deficit remains high, the Federal Reserve is still in the process or ‘normalising’ interest rates and the US is engaged in trade disputes with a raft of economies such as China and the European Union.
In addition some would cite relatively expensive valuations for US shares with prices around 17.8 times forward earnings, well above the longer-term average of around 14.5 times earnings.
 <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/2018/10/2/commsec%205.jpg" alt="">
What are the implications for investors?
Global share markets have made solid gains in recent years reflecting economic recoveries after the global financial crisis. In this respect, the US has had one of the stand-out economies and share markets.
Australian investors can now embrace a broader range of opportunities than in the past, whether they are domestic companies and sectors or opportunities across global economies. While there may have been good reasons in the past for investors to stick with blue-chip ‘Mums and Dads’ investments, better performing investments locally and globally argue for a fresh look at portfolios.
Investments in international shares and small and mid-sized Australian companies provide scope for greater diversification in investor portfolios.
<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/2018/10/2/commsec%206.jpg" alt=""> 
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>. 
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cjames-5S2v74qSNK

'Mum and dad' stocks are underperforming: CommSec's Craig James

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Byron Bay continues to perform well on the back of improving tourist numbers, the relatively compact nature of the CBD and the lack of any large shopping centre facilities, according to the latest Herron Todd White (HTW) commercial report.
The valuation firm took a look at the changing face of the retail sector across the nation in the report. 
"Construction of the new centre at Byron Plaza South is likely to create an additional supply, however the traditional CBD’s proximity to the beach is likely to maintain its strength," the valuer suggested. 
Alternative styles of accommodation for retail uses are being utilised within the industrial area, located approximately three kilometres to the west of the CBD, which are a reflection of affordability and the marrying of unapproved/illegal residential and retail components.
A current listing is a 87 square metre retail space priced at $190,000 (pictured above).
The shop situated at<a href="https://www.realcommercial.com.au/property-retail-nsw-byron+bay-502944882" target="_blank"> 1-3/52 Jonson Street </a>features large shopfront window displays, track lighting throughout and exposure with a constant stream of passing foot traffic. 
<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/2018/10/2/byron%20bay%202.jpg" alt="">
Another 90 square metre retail space located in the Byron Bay Industrial Estate has been listed for lease with the price of $620 per week (pictured above).
Located at <a href="https://www.realcommercial.com.au/property-retail-nsw-byron+bay-502961282" target="_blank">2/1 Banksia Drive</a>, the property consists of lower level open plan with amenities, small storage room, and a good size mezzanine area upstairs with kitchenette and oven.
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j.ballantyne1990-6AQqhLzZaK

Byron Bay retail market continues strong performance: HTW

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GUEST OBSERVATION
Social housing is in crisis in Australia, with almost 200,000 people on waiting lists. Social housing made up 8% of all housing stock in Australia in 1966. This had fallen to just 4.3% at July 2016.
As a result, governments have tightened eligibility. Social housing is increasingly home to only the most vulnerable households. And even these households often spend years on the waiting list while experiencing severe housing stress or homelessness.
Outside of social housing, rental and ownership options are increasingly unaffordable, particularly in the capital cities. Social housing was once a stepping stone to home ownership, but this is becoming more difficult.
There is a solution
The Melbourne-based Barnett Foundation responded by creating a model of affordable home ownership for social housing tenants. The foundation developed a 34-unit apartment in the inner suburb of North Melbourne and offered 28 units to households living within 4km of the site and willing to leave their social housing. It’s called the Melbourne Apartments Project (MAP).
The foundation offered an interest-free second mortgage scheme to ease buyers’ transition into home ownership. This allows the owner to retain 100% ownership of their home while combining their own savings, a standard first mortgage with a bank and a second mortgage with the foundation.
The developer achieved cost savings during construction through reduced marketing and real estate costs (thanks to support from Melbourne City Mission), reduced tax requirements and foregone profit. The savings totalled about 37% of the market value of each property.
These savings were passed on to the buyers in the form of a no-interest second mortgage. This is not payable until the home owner sells their apartment. The second mortgage also reduces every year for the first four years.
Buyers were required to provide at least a A$25,000 deposit and to seek a mortgage to cover the remaining development costs of each unit. This is about 63% of market value, meaning they require a much smaller loan and pay less interest, as well as a smaller deposit. This helps overcome two of the largest barriers to home ownership for first home buyers.
<img src="https://images.theconversation.com/files/235129/original/file-20180906-191844-1j4qu6v.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
What do the buyers think about it?
I interviewed ten of the 28 MAP households in our research and will be presenting findings next Tuesday, October 9, at a free event.
Residents offered extremely positive feedback on their new homes and about being able to buy a home near their existing communities. They would not have contemplated this without the MAP.
Many had lived in social housing for 20 to 30 years and had never felt capable of making the move into market housing.
Participants spoke of the benefit of being able to pass on an asset to their children or to build wealth in their home. Many spoke of the great sense of achievement this move had given them.
I found residents retained extremely strong connections to their previous communities. They often returned to the public housing estates for social activities, to visit family and for community gardening.
However, many also spoke of their deep desire to leave unsafe, “aggravated” and uncomfortable previous homes. Households spoke of the deep sense of relief that came from feeling safe.
Most respondents told me their financial position had not changed or even improved since moving into MAP. Most were “over income” tenants, with a household income that meant they paid market rent for their social housing. Many found their mortgage repayments were similar to their previous rental costs.
However, social housing provides a “safety net” as rents are adjusted if household income decreases. Given some households gathered their deposits with significant support from family and friends while earning low incomes, this might be a future concern for residents.
Scaling up solutions
A 28-unit development is a drop in the ocean compared to the level of unmet need. Recent research suggests Greater Melbourne alone has a 160,000-dwelling deficit of housing that is affordable and available to very low and low-income households.
Creating a significant change requires effective models to be replicated and scaled up. In Toronto, a similar model called Options for Homes has delivered 2,000 affordable units. A further 2,500 units are in the construction pipeline.
Our research found this model is replicable and suitable for a subsection of more financially secure social housing tenants. Its scaling would be supported by access to land and finance and integration with social rental housing options.
Access to land
Access to affordable land in well-located areas is one of the largest barriers to developing affordable housing. Projects like MAP could be integrated into state government initiatives like the Public Housing Renewal Program.
Such schemes would also benefit from discounted land sales by philanthropic or religious groups, or even deferred land sale costs. Options for Homes almost always works with vendors that are prepared to defer land purchase costs until development is completed.
Access to funds
Philanthropic organisations and social impact investors like the Lord Mayor’s Charitable Foundation have already supported affordable home ownership through the Affordable Housing Loan Fund. This allowed the not-for-profit organisation Habitat for Humanity to provide no-interest loans to low-income buyers in the town of Yea in Victoria.
Similarly, social impact investors are key to providing project equity to models like the Nightingale housing model. They could provide important equity and/or debt finance to projects using the MAP model.
Integrated housing solutions
This model is aimed at households with incomes of at least A$75,000 a year, or access to a substantial capital contribution. Despite the reduced deposits and mortgage repayments, most social housing tenants will not be able to access this scheme.
Other not-for-profit organisations could replicate this model and integrate it into their existing portfolios of social rental housing. The MAP model could cross-subsidise other housing options and help to provide a diversity of housing options in developments.
Why does this matter?
For the Melbourne Apartments Project, we estimated that for every A$1 of cost to the government, it receives A$2.19 in benefits from the project. This is mainly due to new households being able to move into vacated public housing units.
If every public housing unit made available as a MAP participant moved out were reallocated to a high-needs applicant on the waiting list, the government could save A$27,458.22 in costs per MAP participant per year.
Housing is increasingly unaffordable in many parts of Australia. As governments reduce their role in social and affordable housing, the need for industry-led innovations is growing. Pilot projects such as MAP are important but need to be supported by policy and scaling mechanisms to have a systemic impact on our housing environment.
Katrina Raynor, Postdoctoral Research Fellow, Transforming Housing Project, University of Melbourne
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/affordable-home-ownership-scheme-offers-a-pathway-out-of-social-housing-102635" target="_blank">original article</a>.
The authors of this and two other recent Conversation articles – Carolyn Whitzman, Matthew Palm and Katrina Raynor – are presenting the full findings of their research project at a Transforming Housing event from 6.30pm on October 9.<img src="https://counter.theconversation.com/content/102635/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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Affordable home-ownership scheme offers a pathway out of social housing: Katrina Raynor

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EXPERT OBSERVER
The latest data from the Australian Bureau of Statistics indicates a sharp drop in apartment approvals in NSW and Victoria.
The overall housing approval figures are falling in NSW and Victoria with the major falls being in the apartment market.
House approvals in NSW have dropped from 2,504 based on trends in March 2018 to 2,336 in August 2018 while house approvals in the smaller state of Victoria were more robust at 3,174 in August 2018.
It is the apartment market where approvals are falling fastest with NSW having 3,764 in September 2017 but this has fallen to 3,041 in August 2018. The Victorian apartment approvals have fallen even further from a high of 3,542 in December 2017 to less than half of this in August 2018 at 1,642 approvals.
It appears that confidence in the apartment market in both Melbourne and Sydney is slowing rapidly with many developers indicating that presales are much less than a year ago.
The Urban Taskforce urges governments to develop policies that support new housing supply as population growth targets have not changed. The pre- election environment in NSW has led to back downs on a number of planning policies including the ‘Missing Middle’ code, the Sydenham to Bankstown Planned Precincts and planning proposals in Ryde.
The concerns by some community groups about the extent of new development in Sydney seems to have led to a move away from housing supply targets and this is lowering confidence in the development industry.
Chris Johnson is the Urban Taskforce CEO
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cjohnson-8xfqfuuCSq

NSW and Victorian apartment approvals falling fast: Chris Johnson

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EXPERT OBSERVER
Two years ago I researched media predictions about residential property and compared the forecasts with subsequent outcomes.
It showed the remarkably bad track record of spruikers, economists and attention-seekers in forecasting what will occur in our markets nationwide. 
Over the past 15 years or so, it’s become trendy to make doomsday forecasts about real estate. A popular number is 40 percent - i.e. the standard scary prediction is a 40 percent drop in our property values, usually tipped to take place in the next 12 months.
Every single one of these forecasts has been proven spectacularly wrong – not surprisingly, because most of them have been fanciful in the extreme and I’m quite certain that the forecasters themselves did not believe what they were saying. The goal has been to achieve some quick and easy publicity. 
Out of this research exercise I compiled a list entitled “Top 20 worst predictions about Australian property markets”.
No.1 on this list was a US spruiker called Jordan Wirsz (don’t feel bad if you’ve never heard of him) who visited Australia in 2012 and forecast a 60 percent fall in home values in a “bloodbath” to take place in the next year. He also tipped that land values would decline 90 percent.
Can you imagine that? He was claiming that our residential land would be virtually worthless. 
Nothing remotely like that has ever occurred in the history of planet Earth and it’s difficult to comprehend why anyone would think it could happen in Australia.
The most amazing thing was that Australian media gave these predictions credibility and gave the touring spruiker exactly what he wanted – lots of free publicity.
What followed this prediction was five years of major price increases in our two biggest cities and mostly steady markets in the rest of Australia.
Another US pontificator, Harry S Dent, has visited Australia several times in the past seven years and each time – including in 2011 and 2014 – has warned that our property prices would crash in the next 12 months.
Each time Australian media has treated him as a credible commentator, with oodles of free profile, notwithstanding his growing track record of getting his forecasts about our real estate markets utterly wrong. I’m sure that next time he visits the same will happen again.
My Top 20 list also includes local economists who have made similar predictions within specific time frames, with the same success rate.
Some have claimed that our homes are over-valued according to their favoured economic model and therefore prices must fall. Others have stated that, back in the days of rising interest rates, that the higher cost of money would cause a collapse of property values.
The head of one of our major banks said in 2011 that the sovereign debt crisis in Europe would force down our property values, only to be followed by several years of strong price rises.
One high-profile and much-quoted Australian economist declared in 2005 that there would be no growth in our home values for the next 10 years. Ouch.
Also on the Top 20 list are commentators who rushed – in 2013 and 2014 - to be the first to declare the end of the price boom in Sydney and Melbourne. 
One of them was a senior official at the Reserve Bank, while another was a Morgan Stanley analyst who famously said, about three years too early: “If you’re an investor, you’ve missed the boat.”
So now we have the notorious 60 Minutes debacle, with yet another forecast of property values falling 40 percent, based on nothing but a pre-conceived notion to boost ratings.
I note that virtually every independent commentator who has reacted on the 60 Minutes program has said that the forecast scenario was highly unlikely or plain silly. Even the key analysts featured on the Channel 9 program have claimed that their views were misrepresented through selective editing. I spoke to one of those who was featured on the program and he was horrified at the outcome.
I was approached by 60 Minutes in mid-August to take part in the program. But they dropped the planned interview when I told them I disagreed with their basic premise of collapsing property markets.
This is not how journalism is meant to work. In true journalism, you do your research and conduct your interviews - and then you come to some conclusions and decide your headline. 60 Minutes did it backwards by deciding the headline and then seeking comment that supported it.
I complained to the ABC television program Media Watch and last week they did a segment pointing out the many flaws in the 60 Minutes segment.
I’m sure the 60 Minutes program will feature prominently next time I update my Top 20 Worst Predictions list, with the same level of success as the many doomsday forecasters who have preceded them.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

The 20 worst crash predictions about the Australian property market: Hotspotting's Terry Ryder

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EXPERT OBSERVER
With home prices falling, access to finance more difficult and fewer people now entering the country, the number of new homes approved for construction has declined.
ABS data released today show that 16,447 homes (seasonally adjusted) were approved for construction in August – a level that is 9.4 per cent lower than in July and 13.6 per cent lower than in August 2017. The latest level of approvals is the lowest since October 2016. 
The new home building sector has been cooling modestly over the past year after reaching all-time high levels of activity during 2015 through to 2017.
Just as apartment construction drove the increase in home building to record levels, approvals data is signalling that apartments will lead the decline.
Approvals for units fell by 17.2 per cent in August, to be 23.7 per cent lower than a year earlier. 
The key risks that we’re watching relate to credit conditions and population growth.
Constraints on the availability of finance through APRA and increased prudential constraints by banks are restricting investment in new homes.
Population growth has slowed since the government introduced stricter visa requirements last year. As global economic conditions improve, skilled migrants who might otherwise consider immigrating to Australia could be more inclined to look to other similar advanced economies where entry requirements are less restrictive.
The outlook for detached house building is better than for units, with the latest approvals data indicating declines likely to be much more modest,” added Ms Hopkins.
Detached house approvals declined by 1.7 per cent in August and are a modest 4.2 per cent lower than a year previously,” concluded Ms Hopkins.
Total seasonally adjusted dwelling approvals in August fell across the eastern seaboard states: Victoria (-12.0 per cent); Queensland (-8.4 per cent), and; New South Wales (-2.7 per cent). Tasmania experienced the largest monthly fall (-18.6 per cent). Elsewhere approvals increased: Western Australia (+14.7 per cent) and South Australia (+9.6 per cent). 
In trend terms, total dwelling approvals in August increased by 1.5 per cent in the Northern Territory and was virtually unchanged (up by 0.1 per cent) in the Australian Capital Territory.
Diwa Hopkins is an economist at the Housing Industry Association.
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jrobinson-rf4aSBido9

Fewer homes approved for construction: HIA

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Vicinity Centres has announced a progress update asset divestment program, with the sale of a portfolio of 10 sub regional and neighbourhood shopping centres to SCA Property Group.
They also sold one Neighbourhood shopping centre to a private investor, for an aggregate sale price of $631.0 million.
The aggregate sale price of $631.0 million reflects a 5.1% discount to the combined 30 June 2018 book values of the eleven assets and a weighted average capitalisation rate of 6.9%.
Vicinity has now divested 35 shopping centres for more than $2.5 billion at a 0.5% premium to book value.
Discussions are noted to be underway with prospective purchasers of three remaining assets included in Vicinity’s divestment program.
Mr Grant Kelley, Vicinity’s CEO and Managing Director, said “These transactions are a significant achievement and advance our strategy to unlock major potential in the business.”
“It is an important step in delivering strong and sustainable growth through focusing our directly-owned portfolio on approximately fifty market-leading destination assets, expanding our wholesale funds platform and realising mixed-use opportunities across the portfolio.”
SCP will acquire ten assets for a total consideration of $573.0 million. Settlement of these transactions is expected later this month.
<img src="https://www.urban.com.au/images/2018/10/3/Vicinity%20centres.JPG" alt="">
The sale of Belmont Village (pictured above) in Victoria to a private investor for $58.0 million was settled at the end of September .
As at 30 June 2018, the eleven assets sold had specialty sales per square metre averaging $7,611. 
Vicinity’s FFO guidance for FY19 remains unchanged at 18.0 to 18.2 cents per security.
Assuming the sale proceeds of the eleven non-core assets are used to repay debt in the short-term, gearing would be reduced by approximately 280 basis points.
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Vicinity sells eleven shopping centres for $631 million

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The recently relaunched Frisco hotel has been brought to market by Manenti Quinlan.
The Frisco, located at 46 Dowling Street, Woolloomooloo is to be sold via Private Treaty.
It is situated in the hospitality precinct of Woolloomooloo, close to the Sydney’s CBD.
Nick Butler from Manenti Quinlan stated, “the current owners have overseen an extensive renovation, relaunching with modern improvements while paying due respect to its naval heritage."
The Hotel, which has 17 gaming machines, is set on 323 sqm and earns around $3.5 million a year in revenue a year across food, bar and gaming.
Set over two levels, the Frisco’s bar, food and function offerings range from rivate dining options for 10 people expand to function packages for up to 350.
The Frisco also holds six accommodation rooms located on the third floor.
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Woolloomooloo's Frisco hotel on the market two years after makeover

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Greenbox, an architectural firm has signed a five-year lease at Bligh Chambers.
Savills Australia’s Liz Braithwaite and Chris Rowe negotiated the lease for the 300 sqm space at $1,230 per sqm.
They did so on behalf of commercial real estate agency, Kingsmede, saying the new tenant “leapt” at the opportunity to occupy the 25 Bligh Street, Sydney space.
Bligh Chambers is a 31 level office tower with other suites ranging from 72 sqm to 612 sqm.
“Good quality existing fitted suites are leasing rapidly in comparison to open-plan refurbished spaces,” Ms Braithwaite noted.
This deal was made on the back of an upcoming lease expiry and Ms Braithwaite said that this space is in high demand.
“This is the third leasing transaction within this building that we have completed in the past six months, proving continuous demand for sub 300 sqm fitted opportunities in the ‘B’ grade market,” she concluded.
Architects Greenbox have 25th floor space.
Around a decade ago the architectural firm peckvonhartel, who have had 20th floor space, were appointed to redesign the forecourt of 25 Bligh Street, the modernist commercial building.
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Architectural firm secure Sydney CBD lease through Savills

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EXPERT OBSERVATION
 
Outer-suburban dwellers in our large capital cities are the modern version of Menzies’ “<a href="https://www.theaustralian.com.au/opinion/linking-infrastructure-with-migration-the-solution-to-congestion/news-story/ab87493b400864976031666711a905e4" target="_blank">forgotten people</a>”, if the government is to be believed. The image of a low-income commuter forced to spend over an hour driving to the CBD is all too common, as the media reach for a way to make sense of population growth.
But any policy to fix congestion by <a href="https://www.theaustralian.com.au/national-affairs/cities-fix-pms-plan-to-send-migrants-to-regions-for-five-years/news-story/c8573e68a1438295818d5aab9de5471b" target="_blank">making new migrants disperse to the regions</a>, where there’s plenty of space, is wrongheaded. In fact, a new <a href="https://grattan.edu.au/report/remarkably-adaptive/" target="_blank">Grattan Institute report</a> finds Australian cities’ adaptation to population growth has been nothing short of remarkable.
There’s no doubt Australia has had <a href="https://theconversation.com/factcheck-is-australias-population-the-highest-growing-in-the-world-96523" target="_blank">rapid population growth in recent years</a>. Sydney and Melbourne’s populations grew in the five years to 2016 at rates among the highest in the developed world, by 1.9% and 2.3% a year. Brisbane, the Gold Coast, the Sunshine Coast, Canberra and Darwin also grew strongly.
But, contrary to frequent media reports, the population boom has had little impact on commuters. The distances that people are commuting barely increased over the five years. And there has been little change in commute times.
<a href="https://images.theconversation.com/files/238254/original/file-20180927-48650-1kxtq6f.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/238254/original/file-20180927-48650-1kxtq6f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Note: Distance is as the crow flies. Source: Grattan analysis of ABS Census ABS (2016a), Author provided
What’s more, commute distances and times in Melbourne, Sydney and Brisbane are very similar, even though Melbourne and Sydney have twice the population of Brisbane. There’s also not much difference in commutes between Perth and Canberra – which is less than a quarter Perth’s size.
<a href="https://images.theconversation.com/files/238255/original/file-20180927-48647-130ec46.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/238255/original/file-20180927-48647-130ec46.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Notes: Working-age respondents to the Hilda Survey report commuting times for a typical week. These are converted here to times for an individual trip. BITRE (2016) finds that the travel times HILDA respondents report closely match other measures of travel times, further supported by Grattan analysis of Transport for Victoria (2018). Source: Grattan analysis of HILDA (2016), Author provided
<h2>The spread of jobs helps explain why</h2>
The spread of jobs within cities partly explains the benign impact of population growth on commutes. It’s a misconception that most jobs are centred in CBDs, which become harder to get to as cities grow. In reality, fewer than two in ten people work in CBDs, whereas three in ten work in a suburb closer to home.
The importance of suburban employment centres is similarly overblown. Parramatta, for instance, was the location of just 2.3% of Sydney’s jobs in 2016, and this proportion had not changed in five years. Similarly, Clayton, home of the Monash University and Medical Centre, had just 1.7% of Melbourne’s jobs in both 2011 and 2016.
In Sydney, Melbourne, Brisbane, Adelaide and Perth, three-quarters of jobs are dispersed all over the city, in shops, offices, schools, clinics and construction sites.
People adapt to growing cities in a variety of ways. Some care most about living a short commute from work; others place a high value on being close to public transport; still others care about a bigger or nicer home, or the reputation of the local school. Everyone makes choices that reflect what they care about most.
This is not to suggest that population growth has left everybody better off. Some people elect not to take a new job that’s too far from home; sometimes people decide against venturing out so as to avoid peak-hour traffic; and some either pay higher rent or cannot afford to live in as nice a place as they used to or could once have afforded. And there is overcrowding on public transport, and commuting times can be unreliable.
But people are not hapless victims of population growth, dependent for their well-being on governments building the next freeway or rail extension. While new infrastructure is needed when cities grow substantially, Australia’s cities have coped even though major transport projects such as WestConnex, Melbourne Metro and Cross River Rail have not yet been completed. We should be sceptical of “congestion-busting” election pledges: building new infrastructure is far from the only way to cope with population growth.
So how should governments respond?
Governments should focus on facilitating the natural adaptations that people make. They should limit zoning and planning barriers to people and firms locating where they want to be. They should follow the ACT’s lead in phasing out stamp duty, which effectively locks people into staying put when they might otherwise move house.
Sydney and Melbourne should introduce <a href="https://theconversation.com/road-user-charging-belongs-on-the-political-agenda-as-the-best-answer-for-congestion-management-65027" target="_blank">congestion charges</a>, to encourage drivers who don’t really need to travel at peak times to stay off the most congested roads. And <a href="https://theconversation.com/westconnex-audit-offers-another-17b-lesson-in-how-not-to-fund-infrastructure-73206" target="_blank">less politicised infrastructure choices</a> could mean the infrastructure we get is the infrastructure we actually need.
With these changes, the benefits that draw people to live and work close together can outweigh the crowding and congestion that trigger demands to shut out new people.<img src="https://counter.theconversation.com/content/103992/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/marion-terrill-169480" target="_blank">Marion Terrill</a>, Transport Program Director, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</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/our-fast-growing-cities-and-their-people-are-proving-to-be-remarkably-adaptable-103992" target="_blank">original article</a>.
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