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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A four bedder in Meadow Springs home sold for $350,000. It was sold on 26 July, 2018 by Raymond Bowden at LJ Hooker Mandurah.
Situated at <a href="https://reiwa.com.au/13-moonbrook-way-meadow-springs-4093443/" target="_blank">13 Moonbrook Way</a>, is a four bedroom three bathroom house.
Set on 551 sqm, the house was built in 2007.
The home last sold for 360,000 in 2012.
Nearby there is the Meadow Springs golf course plus Shopping centre, and public transport is only a short distance away as is easy access to the Perth / Bunbury Freeway.  The suburbs median house price is <a href="https://reiwa.com.au/13-moonbrook-way-meadow-springs-4093443/" target="_blank">$360,000</a>, according to CoreLogic.
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j.ballantyne1990-6AQqhLzZaK

Meadow Springs home sold by mortgagee

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A three bedroom Beechboro home sold for $256,000 by mortgagees.
It was sold on 28 July, 2018 by Richard Lowenhoff at LJ Hooker.
Situated at <a href="https://reiwa.com.au/9-king-road-beechboro-4095562/" target="_blank">9 King Road</a>, Beechboro, the three bedroom one bathroom house is situated on a 700sqm block and is of opposite Beechboro Primary School, approx. 6.8km from Morley Galleria Shopping Centre and approx. 13.2km from Perth CBD.
It is in need of a major renovation, or alternatively can be demolished ready for a new home.
The home last sold for $123,000 in 2000.
The suburbs median house price is <a href="https://reiwa.com.au/9-king-road-beechboro-4095562/" target="_blank">$370,000</a>, according to CoreLogic.
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Beechboro home sold by mortgagees

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The Reserve Bank of Australia has sold its Collins Street, Melbourne HQ for a reported $160 million.
The Australian Financial Review have suggested the buyer its Dexus, the country's largest listed landlord.
In April the RBA quietly called for tenders to sell the 15 storey tower in which the Bank occupied only 10 percent of. They had the 300 sqm space on the top floor of 60 Collins Street.
The other 12,000 sqm of lettable space was fully tenanted.
The building contains a high security strongroom vault used for storing gold bullion and exchanging bank notes which has now been transferred to a newly built facility the bank’s note printing works in Craigieburn on the Hume Freeway on Melbourne’s outskirts.
The RBA were reported to have expected to find a buyer in the region of $100 million, but saw Dexus an opportunity to also secure the 11 storey office tower next door for around $70 million.
The adjacent building at 52 Collins is owned by Marks Henderson Funds Management. 
Dexus proposes to consolidate the two sites at 52 and 60 Collins Street across circa 2,000 square metres and in the medium term activate a prime grade office development to create a total of circa 35,000 square metres of space, subject to planning approval.
Darren Steinberg, Dexus CEO said the acquisitions provide it with a presence in the tightly held ‘Paris end’ of Collins Street in the Melbourne CBD.
"They also present us with a unique opportunity to undertake an office development creating long term value for investors in the next supply cycle, in a prime location where we receive significant enquiry from our customer base.”
60 Collins Street is a 13,817 square metre B-grade office building, located on a 1,357 square metre site on the prime corner of Collins and Exhibition Streets in the Eastern Core of the Melbourne CBD.
The office space is 100% occupied with a weighted average lease expiry on settlement of 2.6 years.
Settlement is expected to occur by end of October 2018.
52 Collins Street is a 3,454 square metre B-grade office building, located on a 587 square metre site adjoining 60 Collins Street.
The property is 100% occupied with an expected weighted average lease expiry on settlement of 3.5 years.
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jonathanchancellor-7SQnKwU6yx

RBA sells Melbourne HQ for $160 million

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We are <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/32692064?q&amp;versionId=43970540" target="_blank">still settling Australian cities</a> on unceded Aboriginal lands. With the global agreement on the <a href="https://www.un.org/sustainabledevelopment/" target="_blank">United Nations Sustainable Development Goals (SDGs)</a> in 2015, development has finally come home to the developed world. Yet in Australia we still often proceed as if development goals are about foreign aid, somehow separate from our own development activities and civic responsibilities.
The <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Foreign_Affairs_Defence_and_Trade/SDGs" target="_blank">Senate inquiry into the SDGs</a>, for example, has been referred to the Department of Foreign Affairs, Defence and Trade. Three of the seven <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Foreign_Affairs_Defence_and_Trade/SDGs/Terms_of_Reference" target="_blank">terms of reference</a> relate to Australia’s <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/BudgetReview201819/ODA" target="_blank">Official Development Assistance</a> program.
<a href="https://www.sbs.com.au/news/trade-minister-exit-paris-accord-and-kiss-europe-trade-deal-goodbye" target="_blank">Reports</a> that trade with Europe might be in jeopardy because of Australia’s failure to act responsibly on climate change – a commitment enshrined not just in the Paris Agreement but also in <a href="https://www.un.org/sustainabledevelopment/climate-change-2/" target="_blank">SDG 13</a>: Climate Action – illustrate the naivety of thinking this country can carry on as usual while others tackle sustainable development.
Australia’s SDG indicator framework
The National Sustainable Development Council’s focus on transforming Australia is an important starting point. The NCDC draws on the <a href="https://www.sdgtransformingaustralia.com/" target="_blank">SDG Progress Report</a> to “highlight key trends and emerging issues for policy and decision-makers and communities across Australia”. But it doesn’t go far enough.
The focus is on targets and indicators that are deemed relevant and important for Australia. This is complemented by a wheel-of-fortune-style dashboard set of aggregated results across four key benchmarks.
The result is a colourful, largely unintelligible – albeit very well-intentioned – national SDG assessment.
<a href="https://images.theconversation.com/files/235918/original/file-20180912-144479-1wv6wx2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/235918/original/file-20180912-144479-1wv6wx2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Australia’s SDG Indicator Scorecard. <a class="source" href="https://www.sdgtransformingaustralia.com/wp-content/uploads/Australias-Dashboard_SDGs_310818.pdf" target="_blank">NCDC</a>
Looks like we get a C grade. But what does this actually say about Australian settlements?
<h2>Sanitised and complacent</h2>
The real issues facing Australia are sanitised and out of sight with a 6.5 score. With 90% of Australians living in urban areas, how does this assessment inform and transform the state of sustainable development in our cities?
A core sustainable development challenge for Australia is the spatial unevenness of its development – between cities and non-city regions, between the dominant cities (Sydney and Melbourne) and the rest, or between different suburbs within cities.
Our patchwork economy generates serious social inequities. The answer is not just to stimulate greater economic activity or spread the boom to “lagging” areas.
We need to recognise that the apparent success of the “bright patches” is often based on their exploitation of “dull patches”. Some areas are set up to be sacrifice zones that suffer, for example, the ill effects of resource extraction, heavy industry and waste disposal.
And some regions struggle not simply because they are physically distant, but because uneven provision of infrastructure has made them functionally distant. Prioritisation of certain regions over others and an over-reliance on infrastructure provision as a proxy for development are two issues that the nation needs to tackle to deliver the SDG agenda.
<iframe src="https://www.youtube.com/embed/0XTBYMfZyrM?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Do you know all 17 Sustainable Development Goals?
<h2>Beyond national silos</h2>
Australian cities rely on and impact upon these spaces and others far beyond their boundaries. Thus tackling <a href="https://www.un.org/sustainabledevelopment/cities/">SDG 11</a> on cities cannot be separated from tackling the other SDGs, including sustainably managing life on land (<a href="https://www.un.org/sustainabledevelopment/biodiversity/" target="_blank">SDG 15</a>), clean water and sanitation (<a href="https://www.un.org/sustainabledevelopment/water-and-sanitation/" target="_blank">SDG 6</a>), affordable and clean energy (<a href="https://www.un.org/sustainabledevelopment/energy/" target="_blank">SDG 7</a>) and life below water (<a href="https://www.un.org/sustainabledevelopment/oceans/" target="_blank">SDG 14</a>).
This means thinking not just about where and how cities access resources, but where their outputs go. For example, when China halted a major waste flow to its recycling plants this exposed the reliance of Australian cities on often distant facilities.
 
This demonstrates how cities are inextricably linked to spaces beyond their city limits, and the need for Australian cities to reduce and reuse as well as just recycle waste. It also illustrates the entwining of Australian settlement development with multiple spaces beyond our borders. Australia’s responsibility for sustainable development includes attention to the nation’s own urban heartlands as well as their impact on both neighbouring and distant countries.
<h2>Putting the SDGs to work in Australian cities</h2>
The SDGs can be mobilised to help achieve sustainable development, but we are not putting them to work in Australia. We stumble our way into the challenges of our climate of change, no more nationally self-aware it seems than before.
A new sustainable development approach is needed in Australia. An SDG ethic and compass must guide our direction so no one is left behind.
The SDGs are an invitation to take seriously the sustainable development challenges we face as a nation, and the implications of our actions for other nations. Rather than look for ways to reinforce our developed country privilege with a C grade report card, we could use the SDGs as a two-fold opportunity to:
1) ask the hard questions about the sustainability of our development
2) collectively explore transformative pathways, particularly within our cities.
Both suggest the importance of connecting more genuinely with Indigenous understandings of sustainability and living ethically on Country. And what do the SDG indicator frameworks and benchmarks tell us about our progress in our <a href="https://theconversation.com/how-can-we-meaningfully-recognise-cities-as-indigenous-places-65561" target="_blank">sovereign relationship with Indigenous people</a> on whose unceded land we live and work?
We are not arguing for a more parochial agenda, or that international development is not important. Indeed, Australia could usefully follow the UK in positioning national science and research priorities within broader “<a href="https://www.ukri.org/research/global-challenges-research-fund/" target="_blank">global challenges</a>”.
Rather, we are pointing to the risks of framing sustainable development issues as problems “over there”. This obscures both Australia’s own acute settlement problems and its role in creating problems “over there”.
What is needed is joined-up policy, planning and research that includes Australia within the frame as a sustainable development site, as well as a funding provider.
It could also include identifying Australia as a country in need: a nation that needs to better contribute to all the SDGs. In the case of <a href="https://www.un.org/sustainabledevelopment/climate-change-2/" target="_blank">SDG 13</a> on climate action, that need is glaring.
In Australia we need to make sure our identity does not include an implicit assumption that our home base is not in need of SDG attention – or only in certain areas. Many if not all aspects of development in Australia are <a href="https://en.wikipedia.org/wiki/Maldevelopment" target="_blank">maldevelopment</a>, which calls for strong critical evaluation and action as much as in any other space. As a nation we can do much better.<img src="https://counter.theconversation.com/content/102641/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/wendy-steele-4698" target="_blank">Wendy Steele</a>, Associate Professor of Sustainability and Urban Planning, <a href="http://theconversation.com/institutions/rmit-university-1063" target="_blank">RMIT University</a>; <a href="https://theconversation.com/profiles/lauren-rickards-1931" target="_blank">Lauren Rickards</a>, Associate Professor, Sustainability and Urban Planning, School of Global Urban and Social Studies; Co-leader, Climate Change and Resilience Research Program, Centre for Urban Studies, <a href="http://theconversation.com/institutions/rmit-university-1063" target="_blank">RMIT University</a>, and <a href="https://theconversation.com/profiles/libby-porter-300183" target="_blank">Libby Porter</a>, Vice-Chancellor's Principal Research Fellow, <a href="http://theconversation.com/institutions/rmit-university-1063" target="_blank">RMIT University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/business-as-usual-the-sustainable-development-goals-apply-to-australian-cities-too-102641" target="_blank">original article</a>.
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jrobinson-rf4aSBido9

Australian transformation a focus for the National Sustainable Development Council

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Sydney's property prices have been falling yet first-home buyers have been taking out higher home loans.
First-home buyers in NSW are now borrowing $391,700 on average, which reflects a 6.1% annual increase, according to the latest ABS housing finance figures.
This is intriguing.
Some prospective investor buyers have waned and some exisiting investors are quietly bailing out given the prospective of higher repayment once they must convert their interest only loans.
Meanwhile emotionally charged first timers have been diving into the market with much of the influx coming after last year’s expansion of generous first-home buyer concessions.
It is likely these stamp duty exemptions have assisted in holding up the prices in the least expensive suburbs since CoreLogic have calculated prices in Sydney's more expensive suburbs are experiencing the bigger declines.
The five postcodes in Sydney to have received more than $760 million in tax breaks and grants for sales to first home buyers since July 2000 are Liverpool, Westmead, Campbelltown, Blacktown and Parramatta.
Across NSW there were 32,000 first home recipients in the past financial year, according to the latest NSW Office of State Revenue figures, the highest figure since the cash grant splash following the global financial crisis when there were 44,000 beneficiaries in 2009/2010.
Many of those buyers saw their home values then fall, though thankfully without losing their homes in the following brief downturn.
Grant recipients slumped to just 6,900 in 2012-2013.
Under the current rules, no stamp duty is payable for all new or existing properties valued up to $650,000 and for homes valued between $650,000 and $800,000 there is a sliding scale of discounts.
It represents a saving of somewhere between $26,000 to $34,000 depending on the purchase.
NSW Premier Gladys Berejiklian says she has been "thrilled" at the big impact the latest grants have had on the market mix.
She made helping first home buyers one of her first priorities as Premier, but you'd have to wonder whether the tax break will be illusionary, notwithstanding the moderating property market.
Earlier this year, CoreLogic’s head of research Cameron Kusher warned first home buyers must be vigilant to avoid negative equity.
“Don’t be lured into buying because of attractive incentives,” he advised.
Kusher even went onto suggest a better option for FHBs would be to remain on the sidelines somewhat longer as values potentially continue to slide.
That would allow more time to save an even larger deposit.
First home buyers are of course now able to dip into their superannuation to help pay for their deposit. 
Savers can make a voluntary super contribution of up to $15,000 a year and $30,000 in total towards their home deposit.
The new First Home Super Saver Scheme (FHSSS) was then-Treasurer Scott Morrison's policy for giving first home buyers a “significant leg-up”.
According to the initial Australian Taxation Office figures, some 498 FHSSS recipients secured an average of $10,727 per super savings accounts in the first month the scheme was up and running.
That's a good start, but beware it can take up to 25 business days from request to release. First time buyers are not allowed to sign a contract in that time or you will be taxed on the benefit, and also note the funds can only be released once.
This article first appeared in The Sunday Telegraph. 
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jchancellor-FAypfDUnLy

First Home Super Saver Scheme is up and running 

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GUEST OBSERVATION
Prime Minister Scott Morrison announced a Royal Commission into Aged Care Quality and Safety on Sunday, responding to concerns about the sector one day before an ABC Four Corners program which was to air them.
Aged care is where the challenges of population ageing are most apparent and where policy choices have direct impact on the lives of Australians.
So, it’s not surprising that the system is under increasing scrutiny. Various reviews have looked at different aspects of aged care since 2011 when major reforms were first ushered in, including into quality, public financing, workforce, and the overall progress of reforms.
The outcomes all point to similar conclusions. Responding to the needs of older, often vulnerable, Australians is an extremely complex business. But it is also one in which making money is tough. The danger is that a combination of cost pressures, profit incentives, and inadequate oversight encourage or force providers to cut corners.
How providers make money
Most funding for aged care comes from government. Direct government expenditure on the overall system was about A$17 billion in 2016-17, with A$12 billion going to residential care.
The users of residential care topped this up with A$4.5 billion of their own money, via regulated fees that are capped for users who pass a generous means test.
But costs of care are high. Providers spend more than A$11 billion on staff, yet those staff aren’t highly paid. This is in part because they are mainly females, who face an unremitting gender pay gap.
The pause that hurt
The Aged Care Financing Authority reports that profits are climbing over the long term but are precarious year-to-year.
The residential industry saw profits fall by 4% to 5% in 2016-17, partly because of a pause and then a scaling back of the indexation of government funding.
Although one quarter of residential care providers made losses in 2016-17, two thirds continued to record profits.
Bigger centres
The tighter funding was justified as a measure to drive efficiency, but it provided further impetus to the longer term trend of big providers to merging with or taking over the small ones. While the number of care places has climbed 8% in four years, the number of providers has shrunk 13%.
One reason why unprofitable providers remain in the market is because they are, by definition, not-for-profit. So the system relies heavily on good will. While still dominant, they have lost share to private, for-profit providers, some of which have the advantage of economies of scale or capital ownership structures that allow them to pay less tax.
While some of those listed on the Australian Securities Exchange saw drops in their share prices in recent years, the sharp declines when the Royal Commission was announced may reflect investor concern about the risk of greater scrutiny of the relationship between their profits and quality of care.
Uncertain quality
It will be open to the Royal Commission to examine how these trends are affecting the quality of care.
The government influences the quality of care in other ways that might attract the interest of the Royal Commission. It sets standards and helps design the incentives that discipline the market.
The standards cover indicators including management, the health and personal care of residents, resident lifestyle, and resident safety. They have been enforced by initial accreditation, subsequent re-accreditation, self-reporting, the examination of complaints and (until recently) pre-announced visits.
In 2017 the government announced a move to unannounced visits after evidence suggesting that some were “staged” in order to present the centre “in the best possible light”.
In July 2018 the government began charging for unannounced visits, raising what it expects to be A$10 million a year.
It’s hard to switch
Consumers can themselves apply market pressure on poor performers, and it is increasingly possible through a move to so-called consumer directed care, where care recipients or their carers are given a budget and the ability to decide how to spend it. If one provider turns out to deliver poor services, they can switch and spend their money elsewhere.
But the transaction cost of switching can be high. The process isn’t easy for users experiencing cognitive decline and there’s not always another centre or service to switch to.
Next steps
The Royal Commission will expose much. For providers, it will be an opportunity to examine their operations to ensure that efficiencies and profits don’t come at the cost of quality. For government, it will be a chance to examine how its funding mechanism, regulations, enforcement and market design are working out in practice.<img src="https://counter.theconversation.com/content/103339/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;">
Rafal Chomik, Senior Research Fellow, ARC Centre of Excellence in Population Ageing Research (CEPAR), UNSW
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/its-hard-to-make-money-in-aged-care-and-thats-part-of-the-problem-103339" target="_blank">original article</a>.
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It’s hard to make money in aged care, and that’s part of the problem: Rafal Chomik

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GUEST OBSERVATION
ABC’s <a href="https://tv.press.abc.net.au/who-cares-four-corners" target="_blank">Four Corners</a> aired the first of a two-part investigation into the often shocking treatment of the elderly in aged care homes around Australia.
The timing coincides with Prime Minister Scott Morrison’s weekend <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2018-09-16/scott-morrison-announces-royal-commission-into-aged-care-sector/10252850" target="_blank">announcement of a royal commission</a> into Australia’s aged care system. The prime minister said poor standards had led authorities to close one aged centre per month since the Oakden aged mental health home scandal.
South Australia’s Oakden facility <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2017-09-22/oakden-closed-as-last-two-residents-moved-out/8974156" target="_blank">closed nearly a year ago</a>, following revelations of abuse and neglect dating back a decade.
While the terms of reference are yet to be determined, the royal commission will likely look into issues already raised by previous inquiries into the sector. These include the changing demands of Australia’s ageing population, staffing ratios, funding levels and the mental health, well-being and safety needs of nursing home residents.
Below are five articles in which our experts have previously explored the complex aspects of Australia’s aged care system, drawing on research which has exposed where the problems are, and have been for some time.
Lack of medical care
Our ageing population, and the focus on helping the elderly stay at home for as long as possible, means by the time people enter aged care they are older and sicker than before. Around <a href="https://www.gen-agedcaredata.gov.au/Resources/Factsheets-and-infographics/Care-needs-factsheet.pdf?ext=">half of people</a> living in aged care today have dementia, depression, or another mental health or behavioural condition.
In fact, the proportion of older people requiring high care for complex needs, which includes assistance with all activities of daily living such as eating and bathing, has quadrupled from 13% in 2009 to 61% in 2016.
Yet there is no legal requirement for all aged care facilities to provide 24-hour registered nursing care. In the article below, Jane Phillips, David Currow, Deborah Parker and Nola Ries explore how today’s nursing home residents have minimal access to quality medical care.
1. <a href="https://theconversation.com/australias-aged-care-residents-are-very-sick-yet-the-government-doesnt-prioritise-medical-care-88690" target="_blank">Australia’s aged care residents are very sick, yet the government doesn’t prioritise medical care</a>
In a separate piece on health care in nursing homes, Sarah Russell has also written: "nursing home providers looking to cut costs are bypassing registered nurses and employing less-skilled personal care attendants (PCAs) who aren’t adequately trained for the job."
2. <a href="https://theconversation.com/heres-why-we-need-nurse-resident-ratios-in-aged-care-homes-59682" target="_blank">Here’s why we need nurse-resident ratios in aged care homes</a>
<hr>
Funding for older Australians to stay at home
Research <a href="http://www.naca.asn.au/Age_Well/Blueprint.pdf" target="_blank">consistently shows</a> more people want to stay in their own homes as they age. In the <a href="https://www.budget.gov.au/2018-19/content/speech/download/budget_speech.pdf" target="_blank">2018-19 budget</a>, the government announced an extra A$1.6 billion over the next four years for an additional 14,000 <a href="https://www.myagedcare.gov.au/help-home/home-care-packages" target="_blank">Home Care Packages</a>. These deliver an agreed set of services to meet the specific needs of aged Australians who want to remain at home.
The government also subsidises a number (currently <a href="https://theconversation.com/australias-aged-care-residents-are-very-sick-yet-the-government-doesnt-prioritise-medical-care-88690" target="_blank">around 283,000</a>) of residential care places for older people unable to continue living independently.
Aged care subsidies are allocated <a href="https://agedcare.health.gov.au/sites/g/files/net1426/f/documents/08_2016/2016_report_on_the_funding_and_financing_of_the_aged_care_industry_0.pdf" target="_blank">through a ratio</a>, which aims to provide 113 subsidised care places for every 1,000 people aged 70 and over. This ratio will increase to 125 places for every 1,000 by 2021-22. Within the overall number of places, the government also sets sub-targets for the numbers of Home Care Packages and residential care places.
The government is aiming to amend the ratio in favour of more home care packages. By 2021-22, the target for home care packages will increase from 27 to 45 per 1,000, while the residential target is to reduce from 88 to 78 per 1,000.
But as Professor of Health Economics at University of Technology Sydney, Michael Woods has written, this still won’t be enough to meet demand.
3. <a href="https://theconversation.com/there-is-extra-funding-for-aged-care-in-the-budget-but-not-enough-to-meet-demand-96403" target="_blank">There is extra funding for aged care in the budget, but not enough to meet demand</a>
<hr>
Poor mental health
Older Australians living in nursing homes represent one of society’s most vulnerable populations. More than 50% of <a href="https://www.aihw.gov.au/reports/aged-care/depression-in-residential-aged-care-2008-2012/contents/table-of-contents" target="_blank">residents in nursing homes</a> suffer from depression compared to 10-15% of adults of the same age living in the community.
Recent <a href="https://onlinelibrary.wiley.com/doi/full/10.1002/gps.4862" target="_blank">research</a> conducted by Briony Murphy and Professor Joseph Ibrahim from Monash University’s Health Law and Ageing Research Unit, found around 140 Australian nursing-home residents took their own lives between 2000 and 2013.
The authors found nearly 70% of those who took their own life were male, 66% had a diagnosis of depression and nearly 80% were experiencing one or more major life stresses, such as health deterioration. Around 43% were experiencing isolation and loneliness, and nearly 30% had trouble adjusting to life in a nursing home.
They wrote:
"The small proportion of adults over 65 living with depression in the community shows that depression is not a normal part of the ageing process… the much larger figure of those suffering depression in nursing homes raises some serious questions."
4. <a href="https://theconversation.com/too-many-australians-living-in-nursing-homes-take-their-own-lives-92112" target="_blank">Too many Australians living in nursing homes take their own lives</a>
<hr>
Poor oral health
Stories of abuse and neglect in nursing homes have also highlighted the issue of poor nutrition and oral health. In November 2017, the dire state of this was shown in a report of a <a href="https://www.smh.com.au/national/nsw/push-for-inquiry-after-woman-found-with-maggots-in-her-mouth-at-nsw-nursing-home-20170509-gw0p1j" target="_blank">nursing home resident in NSW</a> who was found with maggots in her mouth the day before she died.
Researchers have long highlighted people living in aged care have substantially poorer oral health and three times the risk of untreated tooth decay than people living in the community.
Bronwyn Hemsley, Andrew Georgious, Joanne Steel and Susan Balandin collated a list of ways family members can help ensure their loved ones’ oral health is adequately looked after. This includes visiting your family member around mealtimes "…or helping the person to eat… Ask the resident permission to look into her mouth to check if she is swallowing or removing leftover food promptly".
5. <a href="https://theconversation.com/the-shocking-state-of-oral-health-in-our-nursing-homes-and-how-family-members-can-help-77473" target="_blank">The shocking state of oral health in our nursing homes, and how family members can help</a>
<hr>
If you or someone you know is experiencing depression or another mental health problem, contact <a href="http://www.lifeline.org.au/" target="_blank">Lifeline</a> 13 11 14, <a href="http://beyondblue.org.au/" target="_blank">beyondblue</a> 1300 22 4636 or <a href="http://www.sane.org/" target="_blank">SANE Australia</a> 1800 18 7263.<img src="https://counter.theconversation.com/content/103325/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;">
Sasha Petrova, Deputy Editor, Health + Medicine, <a href="http://www.theconversation.com/" target="_blank">The Conversation</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/essential-reading-to-get-your-head-around-australias-aged-care-crisis-103325" target="_blank">original article</a>.
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Essential reading to get your head around Australia’s aged care crisis

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Over the June 2018 quarter, resales of Melbourne properties generated $4.299 billion worth of profits and $37.1 million in losses, according to the latest CoreLogic Pain and Gain report.
The figures in the report indicated that Melbourne generated 27.4% of total resale profits nationally over the quarter as well as producing 7.9% of total resales losses.
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20MELB%201.JPG" alt="">
Over the quarter, there were no resales at a loss in a number of council regions; Frankston, Mitchell and Murrindindi.
The council regions with the highest proportion of resales at a loss were Melbourne, Stonnington and Moonee Valley.
With dwelling values continuing to fall throughout the city, the share of houses and units resold for a loss rose over the quarter.
<a href="https://www.propertyobserver.com.au/images/2018/9/18/CL%20PG%20MELB%202.JPG" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2018/9/18/CL%20PG%20MELB%202.JPG" alt="">
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Melbourne, Stonnington and Moonee Valley regions see the highest resales at a loss: CoreLogic

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Earlier this year, <a href="/news/all-roads-lead-to-southern-cross-station">I penned a piece</a> highlighting the convergence of a number of key rail infrastructure projects at Southern Cross Station, and how there was a critical need to master plan not just the station but the greater precinct to accommodate a potential Airport Link Interchange and a new station box for Melbourne Metro 2.0 under Wurundjeri Way.

The puzzle pieces have begun to fall into place with the<a href="/news/consortium-proposes-market-led-super-train-for-melbourne-airport-rail-link"> recent announcement of the market-led AirRail Melbourne</a> proposal with IFM Investors leading a consortium including design and engineering expertise from Aurecon, Cox Architecture and Grimshaw.

<blockquote>
Cox Architecture are delighted to work with Aurecon as part of the AirRail Melbourne consortium headed-up by IFM Investors. This market-led proposal envisages a new Airport Rail link for Melbourne that simultaneously provides substantial network capacity for Australia’s fastest growing city.  The Cox design for the Southern Cross Station interchange links directly into the fabric of Melbourne while providing a stunning new urban addition to the city.

The proposal will be considered by government over the coming months and the consortium has collectively proposed a compelling and integrated city solution that could have wide-ranging benefits far beyond expediting the air-rail-air commute.

- Cox Architecture
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/airport_station.jpg" rel="gallery-all" title="The concept for the Airport Station. Image: AirRail Melbourne"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/airport_station.jpg?itok=aY3_tnzp" title="The concept for the Airport Station. Image: AirRail Melbourne" width="580"></a>

<figcaption>The concept for the Airport Station. Image: AirRail Melbourne</figcaption></figure><blockquote>
We’ve been working with AirRail Melbourne to develop the Airport Station concept design. Offering a distinguished sense of place, our design for the integrated underground station supports Melbourne Airport’s vision for a seamless passenger experience with world-class linkages between the airport, city and regional Victoria. 

Comprising IFM Investors, Melbourne Airport, Metro Trains Australia and SOUTHERN CROSS STATION PTY LTD, AirRail Melbourne’s plan for the city’s long-awaited airport rail link promises the fastest travel times, a premium around-the-clock service and enhanced access for regional Victorians.

- Grimshaw
</blockquote>

Although the <a href="/news/victorian-government-unveils-suburban-rail-loop-election-proposal">Suburban Rail Loop</a> has up until recently occupied much of the spotlight in terms of the Andrews Government's Public Transport strategy, should it be re-elected, Premier Daniel Andrews made it clear there will be further announcements regarding infrastructure investment in the lead up to the election.

It is the opinion of this Editor that any announcement regarding Melbourne Metro 2.0 will coincide with the release of the final Framework and Planning Controls for the Fishermans Bend Urban Renewal Area. Currently two alignments have been canvassed - one through Wirraway; and another through the Employment Precinct.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/melbourne_metro_2_alignments.jpg" rel="gallery-all" title="Melbourne Metro 2.0 alignments"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/melbourne_metro_2_alignments.jpg?itok=Of9hTtG9" title="Melbourne Metro 2.0 alignments" width="580"></a>

<figcaption>Melbourne Metro 2.0 alignments</figcaption></figure>Detailed Precinct Plans - which will come later - will further refine the specific locations of station entries however, it wouldn't surprise me if the Employment Precinct alignment is adopted as that will serve the University of Melbourne's new $1bn Engineering Campus, which is set to occupy seven hectares of the former General Motors Holden (GMH) site.

The proposition of a direct connection from the Employment Precinct via the heart of what will become Melbourne's second commercial centre at Sandridge, in addition to the ability to interchange via a new station box at Southern Cross Station for the airport, seems for the most part, like a no-brainer to me.

Apartments.com.au's <a href="/guides/weekly-podcast-episode-32-the-greens-sam-hibbins-talks-all-things-transport">recent podcast with Greens MP Sam Hibbins</a> outlined that party's prioritisation of Melbourne Metro 2.0 in order to increase capacity on the network to cope with population growth and continuing to untangle Melbourne's dated rail network to become a true Metro.  Will the ALP and Coalition follow suit?

Melbourne Metro 2.0 will however result in increased patronage through Southern Cross Station particularly when combined with the AirRail Melbourne proposal - should it or a derivative proceed after the Melbourne Airport Rail Link and Suburban Rail Loop business cases are completed - putting further strain on the station and the precinct.

Further pressure on the precinct is also coming via increased high-rise development activity, again <a href="/news/the-rise-and-rise-of-melbournes-spencer-street">highlighted by Urban.com.au recently</a>, with sewer upgrade works currently underway to address the increased residential population in the area.

Already in morning and afternoon peak, the footpaths on the corners of Collins/Spencer and Spencer and Bourke are at capacity, with this also occurring during event mode at Marvel Stadium (formerly Etihad) particularly during the AFL season.

The connection from Southern Cross to Marvel Stadium via the Bourke Street pedestrian bridge is also struggling to cope during event mode, becoming a bottleneck as exiting fans attempt to enter the station. Developments around the stadium have attempted to alleviate some of the pressure however, despite best intentions have only really served to move the problem elsewhere.

With the <a href="/news/etihad-stadiums-redevelopment-to-improve-links-to-cbd-and-victoria-harbour">AFL and State Government working on a substantial upgrade of Marvel Stadium</a> - with Cox Architecture having previously developed concepts - there's an opportunity for a fully integrated Master Plan of the area bound by Collins Street, Wurndjeri Way, Bourke Street, Harbour Esplanade, LaTrobe Street and Spencer Street. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southern_cross_precinct_site.png" rel="gallery-all" title="Southern Cross Station and the greater precinct should form part of a coordinated Master Plan"><img alt="" class="image-article-full-width-580px" height="463" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southern_cross_precinct_site.png?itok=G1Tp4Ul1" title="Southern Cross Station and the greater precinct should form part of a coordinated Master Plan" width="580"></a>

<figcaption>Southern Cross Station and the greater precinct should form part of a coordinated Master Plan</figcaption></figure>This would allow for a reduction in redundant works as other projects in the area are delivered over the course of the next 10 years, with the potential to incorporate some of those outlined by Mayor Sally Capp with the two critical rail projects and the upgrade of Marvel Stadium to truly connect the Melbourne CBD down to Victoria Harbour. 

<h2>Key considerations:</h2>

<ul>
<li>AirRail Melbourne</li>
	<li>Melbourne Metro 2.0</li>
	<li>Marvel Stadium upgrade</li>
	<li>
<a href="/expert-insights/buying/city-of-melbournes-transport-strategy-refresh-its-time-to-walk-the-walk">City of Melbourne Transport Strategy Refresh</a> </li>
	<li>City of Melbourne Mayor Sally Capp's Highline Vision</li>
	<li>Harbour Esplanade Master Plan</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/projects_southern_cross_precinct.png" rel="gallery-all" title="Projects to consider "><img alt="" class="image-article-full-width-580px" height="585" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/projects_southern_cross_precinct.png?itok=06QxclYr" title="Projects to consider " width="580"></a>

<figcaption>Projects to consider</figcaption></figure>Look out for Part Two in coming weeks, which will be a high level study of what an integrated Master Plan for the Precinct might look like.

Lead Image: AirRail Melbourne (with a bit of Dragomir magic.)
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Laurence Dragomir

Why did the chicken cross the road? To get to the airport - Part One

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<div class="x_WordSection1">
EXPERT OBSERVER
The Bureau of Statistics reports that Australian home prices fell by 0.7 per cent in the June quarter to stand 0.6 per cent lower over the year – the first annual decline since June quarter 2012.
The weekly ANZ-Roy Morgan consumer confidence rating rose by 1.5 per cent to 118.0 – the highest level in five weeks. The index is comfortably above the average of 114.1 held since 2014, and above the longer term average of 113.0 held since 1990.
The minutes from the September 4 Board meeting were issued. The Board’s neutral policy stance remains intact with a period of record low interest rate stability ahead for the foreseeable future. The Reserve Bank Board noted that “since progress on unemployment and inflation was likely to be gradual, they [members] also agreed there was no strong case for a near-term adjustment in monetary policy…. members continued to agree that the next move in the cash rate would more likely be an increase than a decrease.” 
Home price data is important for retailers, especially those focussed on consumer durables. The consumer confidence figures have implications for retailers, and other consumer-focussed businesses. The Reserve Bank Board minutes provides guidance on interest rate settings.
</div>
<div class="x_WordSection2">
What does it all mean?
The great re-balancing of the housing market continues. Although the latest data has been superseded by more timely figures, the ABS analysis shows that home prices rose in four capital cities and fell in the other four in the June quarter. The number of homes being built – especially in places like Sydney and Melbourne – are slowly catching up with population growth. And as a result home price growth is becoming more sustainable.
Arguably the number of homes being built still has some way to go to match demand. In the past quarter just fewer than 41,000 homes were added to the housing stock, short of the 5-year average of over 43,000.
Consumer confidence has been choppy in recent months, but optimists continue to defy the pessimists with the ANZ-Morgan survey rebounding to its best level in five weeks. Job security remains a key support for consumer sentiment. A solid August employment report was released last Thursday with all measures of unemployment (including underemployment and underutilisation) falling to their lowest levels in 4-6 years. Unemployment in the boom-state of Victoria is at seven-year lows. Unemployment in Greater Sydney is near decade lows. 
And all the underlying sub-indexes of the consumer confidence survey are higher than their long-term averages except the ‘time to buy a major household item’ index, which is marginally below its long-term average.
There was little new information contained in the Reserve Bank Board’s September 4 monetary policy minutes. Members remained upbeat in their assessment of the Aussie economy.
According to the commentary, economic growth is likely to remain “above potential” through the forecast period. Inflation is “likely to increase over time.” But “significant tensions around global trade policy the outlook” and “low wages growth” presented risks to its outlook. While reiterating the Board’s preference to increase the official cash rate when it next moves interest rates, “progress on unemployment and inflation was likely to be gradual, they also agreed there was no strong case for a near-term adjustment in monetary policy.”
What do the figures show?
Residential property prices
The Bureau of Statistics (ABS) has released its Residential Property Price indexes for the June quarter.
“The price index for residential properties for the weighted average of the eight capital cities fell 0.7 per cent in the June quarter 2018. The index fell 0.6 per cent through the year to the June quarter 2018.
The capital city residential property price indexes fell in Sydney (-1.2 per cent), Melbourne (-0.8 per cent), Perth (-0.1 per cent) and Darwin (-0.9 per cent), and rose in Brisbane (+0.7 per cent), Hobart (+3.0 per cent), Adelaide (+0.3 per cent) and Canberra (+0.6 per cent).
Annually, residential property prices fell in Darwin (-6.1 per cent), Sydney (-3.9 per cent) and Perth (-0.9 per cent), and rose in Hobart (+15.5 per cent), Canberra (+3.0 per cent), Melbourne (+2.3 per cent), Adelaide (+2.1 per cent) and Brisbane (+1.7 per cent). 
The total value of residential dwellings in Australia was $6,926,538.0 million at the end of the June quarter 2018, falling $13,321.1 million over the quarter.
The mean price of residential dwellings fell $4,100 to $686,200 and the number of residential dwellings rose by 40,800 to 10,093,700 in the June quarter 2018.”
CommSec estimates that the number of people per home fell from 2.48 in the March quarter to 2.47 in the June quarter.
The number of homes in NSW rose by just 7,800 in the June quarter – the smallest lift in over four years.
Consumer Sentiment
The weekly ANZ-Roy Morgan consumer confidence rating rose by 1.5 per cent to 118.0 – the highest level in five weeks. The index is comfortably above the average of 114.1 held since 2014 and above the longer-term average of 113.0 held since 1990.
Three of the five components of the index increased last week:
Ø  The estimate of family finances compared with a year ago was up from 104.0 to 107.8; 
Ø  The estimate of family finances over the next year was down from 126.2 to 125.7;
Ø  Economic conditions over the next 12 months was down from 109.3 to 108.0; 
Ø  Economic conditions over the next 5 years was up from 111.5 to 115.2;
Ø  The measure of whether it was a good time to buy a major household item was up from 130.1 to 133.1.
The measure of inflation expectations rose from 4.1 per cent to 4.4 per cent.
Reserve Bank September Board minutes:
“Based on the forecasts and associated risks, members assessed that the current stance of monetary policy would continue to support economic growth and allow for further progress to be made in reducing the unemployment rate and returning inflation towards the midpoint of the target. In these circumstances, members continued to agree that the next move in the cash rate would more likely be an increase than a decrease. However, since progress on unemployment and inflation was likely to be gradual, they also agreed there was no strong case for a near-term adjustment in monetary policy.” 
On the economic growth outlook: “…recent data had not changed members' assessment that GDP growth was likely to remain above potential throughout the forecast period and inflation was likely to increase over time. However, members recognised that there continued to be risks associated with uncertainties from abroad and low wages growth.”
On the labour market: “Forward-looking indicators of labour demand, including vacancy rates and survey measures of employment intentions, continued to point to above-average growth in employment in the near term. The unemployment rate was expected to decline gradually towards 5 per cent. Wages growth was expected to increase gradually as spare capacity in the labour market is absorbed.” 
On wages growth: “Information from liaison had continued to point to a modest increase in private sector wages growth in coming quarters. Members noted that the effects of the recent increase in the minimum wage would boost wage outcomes in the September quarter.”
On household consumption: “Growth in household consumption was expected to have recovered in the June quarter; retail sales volumes pointed to a solid increase in consumption of goods. Retail sales data for July had been relatively weak, although online sales had continued to grow rapidly.”
On the housing market: “Housing prices had been falling gradually in Sydney and Melbourne, and in recent months price declines had become more widespread across different suburbs and price segments. Although housing prices in Perth had also declined over recent months, prices in other capital cities had been little changed. Rent inflation had remained low.”
On mortgage rate increases: “Once they take effect, these increases would imply a small rise in the average outstanding variable housing loan rate, unwinding about half of the decline observed in the average housing loan rate over the preceding year. Members noted that there was evidence that banks had continued to compete strongly for new borrowers for housing, including by increasing discounts on published lending rates. For owner-occupiers, housing credit had been growing relatively strongly at around 7½ per cent annualised over the preceding six months, whereas growth in lending to investors had slowed noticeably.”
On business investment: “Non-mining investment intentions for 2018/19 reported in the ABS Capital Expenditure survey had been revised higher, although firms still expected capital expenditure to be lower than in 2017/18. Mining investment was still expected to trough in late 2018 or early 2019, as the remaining large liquefied natural gas projects are completed. Business conditions more generally had remained well above average, according to a range of surveys, despite easing slightly since earlier in 2018.”
On the drought: “Drought conditions in some parts of Australia were expected to result in lower overall rural production and exports in the period following the June quarter, although members noted that a record crop was expected in Western Australia.” 
On the Aussie dollar: “…the modest depreciation of the Australian dollar was helpful for domestic economic growth.”
On trade: “…members observed that there were still significant tensions around global trade policy and that this represented a material risk to the outlook.”
<h1>What is the importance of the economic data?</h1>
The Australian Bureau of Statistics (ABS) provides quarterly data on residential prices. The figures provide further perspectives on the state of the housing purchase sector.
The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.
The Reserve Bank releases minutes of its monthly Board meeting a fortnight after the event. The minutes give a guide to Reserve Bank thinking on interest rate settings.
<h1>What are the implications for interest rates and investors?</h1>
The housing market continues to rebalance. A soft landing is anticipated, but the impact of falling home prices and rising mortgage rates on household budgets will need to be closely monitored. Housing credit growth for owner-occupiers remains firm and first home buyers are taking advantage of improving home affordability.
Aussie consumers are a resilient bunch. Negative news-flow about politics and global trade can influence confidence surveys in the short-term, but its no coincidence the sentiment has been hovering around four-year highs this year, given the record job gains over the year to January. 
The latest employment report provides further evidence that spare capacity is slowly being reduced in the labour market. But the transmission to higher wages and inflationary pressures will only be gradual, despite emerging skills shortages.
The Reserve Bank is under no pressure to lift interest rates – its preferred next move. Fiscal policy is doing some of the heavy lifting in the form of government spending on infrastructure. Non-mining business conditions are also near record highs - the drag from mining investment has almost troughed. The Aussie dollar has weakened, trade surpluses are being posted and economic growth is above its long-term potential, boosted by household consumption.
The Board wont wait to see the ‘whites of the eyes’ of higher inflation rates before lifting the cash rate. But those pressures are still some way off. Therefore, CommSec expects interest rates to be unchanged until at least November 2019.
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<div>Ryan Felsman is a senior economist at CommSec</div>
 
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