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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GUEST OBSERVATION
Australia’s population is set to reach 25 million in the coming weeks. This is much earlier than expected. Eighteen years ago, projections estimated Australia’s population wouldn’t get to 25 million until 2041.
Western Australian Liberal Senator Dean Smith last week proposed a moratorium on immigration to give Australia some time to “breathe” and take stock. Claiming concerns over planning and infrastructure failing to meet population needs, Smith signalled Australia was unprepared, having relied on inaccurate population projections.
Immigration is often targeted when population levels seem out of control. But will a moratorium give Australia the supposed breathing space it needs?
Migration impacts
Concerns about immigration and a perceived population crisis have crossed over the spectrum of Australian politics. One Nation’s Pauline Hanson has called for a plebiscite on immigration, while Labor leader Bill Shorten has raised concerns about the number of temporary migrants in Australia.
Immigration Minister Peter Dutton has said a cut to immigration numbers would have economic benefits, contradicting Treasurer Scott Morrison. And Smith’s idea to halt immigration to allow the nation’s infrastructure time to catch up with population demand is shared by prominent public figures, including Bob Carr and Dick Smith.
Australia’s population is ageing, which has potential adverse consequences for the future as proportionally more people exit the workforce, increasing reliance on a shrinking income taxpayer base. Immigration has the potential to offset these consequences of population ageing by contributing to the workforce and to government funds for essential services. Migrants also contribute to Australia’s future population by having children.
The latest available research suggests immigration levels at “about 160,000 and 210,000 seem to have the ‘best’ impact by 2050 on ageing of the population and the rate of growth of GDP per capita”.
Current ABS projections provide an opportunity to examine what Australia’s demographic composition could look like if net overseas migration was zero, 200,000 (low), 240,000 (middle) or 280,000 (high) per year.
Based on 2011 census data, and medium-range assumptions for fertility and life expectancy, the 2013 (medium range) projections are tracking well with current estimates. These projections provide an indication of the impact of migration, measured as net overseas migration. Net overseas migration reflects the balance of incoming and outgoing movements and includes both permanent and temporary migration.
The four ABS scenarios show varying population numbers over the medium to long term. The higher the net overseas migration level, the bigger the population over the projected years. Interestingly, though, while zero net overseas migration would result in a reduction in population by the year 2070, the population would still continue to grow in the medium term due to natural increase (births minus deaths).
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Population composition is an important indicator to consider, rather than size alone. Age distribution is essential to understanding the fiscal opportunities and challenges a population faces.
Comparing the four net overseas migration scenarios illustrates the important contribution migration makes to Australia. The so-called dependency burden – the ratio of the number of children (0-14 years old) and older people (65 years or over) to the working-age population (15-64 years old) – is higher for zero and low net migration levels.
The current rate of net migration provides the middle ground in balancing population age structure and growth.
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Population projections
Planners need to know expected population size and growth to ensure adequate services and provisions. The ABS has produced projections for national and sub-national populations since 1950.
Population inquiries throughout Australia’s history have consistently called on such statistics to enable the country’s responsiveness and preparedness to accommodate numbers. Australia hasn’t set any population targets, mainly to avoid coercive population measures (such as mandating birth rates) and to allow flexibility in government policy, particularly around immigration intake.
Estimating population size and growth into the future is about what might be (projection) and not what will be (forecast). So population projections are not predictions; they’re calculations of potential future populations based on assumptions about possible births, deaths and migration.
The “best-before-date” for population projections is considered to be around 5-10 years from the initial base year of calculation. This is why projections should be regularly updated based on best available population data (the census and vital statistics) to ensure assumptions reflect births, deaths and migration trends.
Australia is one part of the global community. Cutting immigration to Australia will impact the demographic composition of the country, with consequences for the working-age population and income tax base.
Any changes to the migration program should be considered alongside evidence. Available evidence shows Australia’s current migration program intake (190,000) is about right for Australia.
<img src="https://counter.theconversation.com/content/100030/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Australia doesn’t need a moratorium. What we need is a respectful, open and evidence-based population discussion.
Liz Allen, Demographer, ANU Centre for Social Research and Methods, Australian National University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/migration-helps-balance-our-ageing-population-we-dont-need-a-moratorium-100030" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Migration helps balance our ageing population – we don't need a moratorium

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EXPERT OBSERVER
New housing supply is simply not expanding affordable housing opportunities for the poor in a way that reduces the homelessness count. We <a href="https://cloud.3dissue.com/122325/122578/143598/WhyNewSupplyisnotExpandingHousingOptionsfortheHomeless/index" target="_blank">argue that</a> this is due to certain barriers that prevent new supply from filtering down to low-income groups.
Politicians and economists often claim <a href="http://sjm.ministers.treasury.gov.au/speech/005-2017/" target="_blank">a housing supply crisis</a> is to blame for the lack of affordable housing in Australia. They say increases in housing stock are failing to keep pace with population growth.
In a 2017 address to the Australian Housing and Urban Research Institute, Treasurer <a href="http://sjm.ministers.treasury.gov.au/speech/005-2017/" target="_blank">Scott Morrison said</a>:
"… for certain Australian households, housing affordability is an issue regardless of where they live due to economic reasons … However, in Sydney and Melbourne where supply has failed to keep pace with rising demand, the problem is far more acute… The principal cause of declining housing affordability is the failure of housing supply to adjust to increased demand…"
Yet housing approval data from the Australian Bureau of Statics show the growth in housing stock has actually outpaced rates of population increase in all Australian capital cities.
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Between 2005-06 and 2014-15, housing stock has expanded by over 22% while population growth has lagged behind at 19%. Despite this, <a href="https://www.tandfonline.com/doi/abs/10.1080/08111146.2017.1374945" target="_blank">median residential property prices nearly doubled</a> in the same period.
How it should work in theory
Increasing housing stock only works to make housing more affordable if certain <a href="http://www.hup.harvard.edu/catalog.php?isbn=9780674543430" target="_blank">filtering processes occur</a>. This is how it looks if the number of new homes increases while the number of households stays fixed or increases at a slower pace.
Those in higher-income households may wish to upgrade to a newer, more expensive house. The established home they vacate would be more appealing to other households if it falls in price. This would then make it affordable to a middle-income household. And the home this middle-income household will vacate would then also fall in value and become affordable for a lower-income household.
Eventually, affordable housing opportunities would trickle down to the homeless, and the homelessness count would decline. But, in Australia, <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/2049.0" target="_blank">homelessness is on the rise</a>. Back in 2006, fewer than 90,000 people were homeless. Within a decade, that number has climbed by nearly one-third, to more than 116,000 people – a 10% increase.
<a href="https://images.theconversation.com/files/227549/original/file-20180713-27018-kl93d8.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/227549/original/file-20180713-27018-kl93d8.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The number of homeless people in NSW has increased more than any other state. 
New South Wales has fared the worst. The number of homeless people in NSW has soared by 70% between 2006 and 2016. With the exception of the Northern Territory, all other states and territories witnessed an increase in homelessness in this period.
So, despite the rise in housing stock, most states and territories have failed to contain, never mind reverse, the rise in homelessness over the last decade. Why are the filtering processes not working?
Barriers to affordability
Deregulation of Australian financial markets and tax concessions have combined to make residential property an attractive investment, especially for higher-income households. So a higher-income earner would gain an additional property rather than swapping one for the other and leaving the vacated one affordable for the next in line.
And if a substantial share of new housing is being purchased as holiday homes or investments, this can stifle the trickle down of affordable housing opportunities.
The recent growth in net overseas migration is a likely barrier as well. Between 2004 and 2015, net <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/3412.02015-16?OpenDocument" target="_blank">overseas migration climbed</a> by 30%, from 138,800 to 181,050. This has outstripped the 22% housing stock growth rate over roughly the same period.
While migration is included in overall population numbers, in this case, the houses migrants are vacating to move to Australia remain in their home country. So this doesn’t contribute to the filtering process.
Transaction costs (mainly high stamp duties) can deter people from trading up, or downsizing. Transaction costs are a <a href="https://www.taxinstitute.com.au/australian-tax-forum/stamp-duties-land-tax-and-housing-affordability-the-case-for-reform" target="_blank">drag on resident movements and suppress housing stock turnover</a>.
Finally, land and building regulations can play a role. Elderly people who may wish to downsize from a family home to an apartment usually <a href="/news">want to live in the same neighbourhood</a>. Yet planning interventions may prevent the construction of units in the suburbs downsizers would prefer.
<img src="https://counter.theconversation.com/content/95926/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Until these barriers are lowered, simply increasing new housing supply cannot be the silver bullet that fixes homelessness and the housing affordability concerns of the Australian population.
Rachel Ong, Professor of Economics, School of Economics and Finance, Curtin University 
Gavin Wood, Emeritus Professor of Housing and Housing Studies, RMIT University
This article was originally published on <a href="https://theconversation.com/au" target="_blank">The Conversation</a>. 
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What is causing Australia's homelessness problem?

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A Richmond based architect has paid $2.94 million for a leased investment property with development upside at Hawthorn East. 
According to selling agents, Teska Carson’s Michael Taylor and Richard Munday, the 9 Mayston Street property attracted strong enquiry from a broad range of buyers including investors and developers. 
The property attracted small investors and SMSFs with a secure lease to a national tenant, but also offered long term development upside and as such attracted a strong contingent of prospective purchasers.
"The location within one of Melbourne’s most popular and tightly held retail precincts also offered excellent capital growth prospects,’’ Taylor said.
Located near the intersection of Camberwell Road, the property comprises a 470 square metre single level, warehouse/office/showroom premises in good condition with rear roller door access to Gillman Street.
The 562 square metre site has 11 metres street frontage and is zoned Commercial 1 under the City of Boroondara planning scheme and is situated within a tightly held precinct within close proximity of Burke Road, Camberwell shops, Swinburne University and Burwood Road retail.
The property was sold subject to a lease to long standing tenant, Ultra Tune, at a current rental of $90,000 per annum plus outgoings and GST on a five year term with two, five year options and annual 4% increases.
Munday said the purchaser bought the property with the intention to develop in the long term.
The vendor was a local investor.
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Architect pays $2.94m for Ultra Tune Hawthorn investment

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EXPERT OBSERVER
Markets are now broadly pricing in Westpac’s view on the outlook for the RBA cash rate with only around a 50% chance of a rate hike by the end of 2019. That is in stark contrast to a year ago when our call that rates would remain on hold in 2018 and 2019 was well out of market with markets anticipating around 75 basis points of tightening by the end of 2019.
A weakening housing market; soft inflation and wages growth; an uncertain consumer and pressures on funding have all conspired to cool markets’ expectations. That key dynamic around an uncertain consumer facing constraints on income growth with a falling savings rate always stood out as a key constraint on the ability of the household sector to lift spending in the way anticipated by the markets.
While markets have moved largely to embrace our view, the Reserve Bank still expects to be raising rates over the course of 2018 and 2019. I think that is apparent in their ongoing above trend growth forecasts for 2018 and 2019. But, as we have argued before, the Bank does not have a perfect track record with its forecasts (as none of us in the economics community do) and it will react to any differences between its forecasts and “reality” in a timely fashion.
On the other hand our forecasts for the US Federal Funds rate have been consistently above market expectations. Our analysis of the current market pricing is for around 65 basis points of further tightening through 2018 and 2019. We have expected a total of 75 basis points over that period with one 25 bps hike in September, followed by a pause, and then 25 bps hikes in March and June with the rate peaking at 2.625% in mid–2019.
We have expected that signs of the US economy slowing into the second half of 2019 (partly under the weight of a sharp slowdown in government spending) would see the FED curtailing its tightening cycle in anticipation of eventually cutting rates from 2021.
Under that scenario we had been arguing for a weakening AUD/USD which had subsequently peaked around 0.81 in late January this year.
Under our relative rate profile the AUD/USD cash rate differential would sink to an unprecedented –112.5 basis points by June 2019 (previous mark in the post stagflation history was –50 basis points in the late 1990s).
That was likely to take a heavy toll on the AUD/USD with our target being 0.72 by next June.
That sum of 75 basis points of hikes from the FED was still slightly above market expectations but we now believe we need to be even more bold on the FED forecasts. Trends in core inflation; wages; and employment are increasingly casting doubt on a FED pause between September and March.
On a six month annualised basis, the core PCE is now running at 2.3% (to May) and the Employment Cost Index is rising at 2.9% (to March). This pace is somewhat faster than we had expected providing the FED with ample justification for not pausing. In that regard we note that the FED has emphasised the symmetrical nature of its inflation objective and therefore not indicating any immediate concern that the momentum in the core PCE is running above the 2% target. As such, we are still expecting the gradual (3 month intervals) approach to the tightening cycle.
Bill Evans is economic spokesman for Westpac and is head of economic research
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The latest outlook from Westpac's interest rate whisperer: Bill Evans

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EXPERT OBSERVER
In previous instances when value growth has slowed or started to fall in Sydney and Melbourne the experience has often been that value growth has ramped-up in other capital cities. This makes sense given that as affordability deteriorates in certain areas of the country people start to turn their attention elsewhere.  
This week’s blog takes a look at the comparative value of housing in other capital cities and nearby markets relative to in Sydney and Melbourne.
<img src="https://www.corelogic.com.au/sites/default/files/2018-07/2018-07-23-blogimg1.png" alt="Dwelling value premium in Sydney relative to other capital cities" width="584" height="191">
  Sydney is the nation’s most expensive capital city housing market currently with the median dwelling value in June 2018 recorded at $870,554. The premium for the median dwelling value in Sydney relative to the other national capital cities is: 21% for Melbourne, 76% for Brisbane, 98% for Adelaide, 89% for Perth, 99% for Hobart, 101% for Darwin and 48% for Canberra. With dwelling values in Sydney now falling, the premium is reducing however, the cost of housing in Sydney relative to other capital cities is generally significantly higher than the long-term averages. In fact only Melbourne (42%) and Hobart (103%) have a current differential which is lower than the long-term average.
<img src="https://www.corelogic.com.au/sites/default/files/2018-07/2018-07-23-blogimg2.png" alt="Dwelling value premium in Sydney relatice to Regional NSW areas" width="592" height="194">
  Of course, people that potentially migrate out of Sydney don’t necessarily only choose to go interstate, they may also migrate intrastate. The above chart highlights the value differential over time between Sydney and those regions adjoining the city as well as the Capital Region (adjoining Canberra) and Richmond-Tweed (adjoining South-East Queensland). The premium for Sydney dwellings compared to those in the other regions highlighted is currently: 105% for Capital Region, 176% for Central West, 113% for Hunter Valley exc Newcastle, 29% for Illawarra, 52% for Newcastle and Lake Macquarie, 64% for Richmond-Tweed and 47% for Shoalhaven. Although values have increased in regional NSW over the past year, the rate of growth has slowed substantially, particularly within Illawarra, Newcastle and Lake Macquarie and Southern Highlands and Shoalhaven. These three regions have been seeing strong value growth over the past five years and they are also the only three regions in which the value differential is lower (substantially so) than the long-term average.
<a href="https://www.corelogic.com.au/sites/default/files/2018-07/2018-07-23-blogimg3.png" target="_blank">Click</a> to enlarge
<img src="https://www.corelogic.com.au/sites/default/files/2018-07/2018-07-23-blogimg3.png" alt="Dwelling value premium in Melbourne relative to other capital cities" width="590" height="193">
  Looking at the value differential between Melbourne and other capital cities, except Sydney, Melbourne’s median dwelling value of $716,774 is higher than all other capital cities. The premium for Melbourne is currently recorded at: 45% for Brisbane, 63% for Adelaide, 55% for Perth, 64% for Hobart, 65% for Darwin and 22% for Canberra. The value differential for Melbourne to all these capital cities is greater than the long-term average. In fact, notwithstanding the recent slight reductions due to Melbourne value falls, the value gap between Melbourne and Brisbane, Melbourne and Adelaide and Melbourne and Darwin is the largest it has ever been.  
<img src="https://www.corelogic.com.au/sites/default/files/2018-07/2018-07-23-blogimg4.png" alt="Dwelling value premium in Melbourne relative to Regional Vic areas" width="590" height="193">
  The above chart looks at the dwelling value premium for Melbourne relative to the major regional areas adjoining the capital city. Melbourne retains a significant premium in terms of housing costs relative to these areas. What is very different to what was shown in the chart for Sydney and Regional NSW areas is that outside of Geelong, the housing cost premium in Melbourne remains well above the long-term average. This suggests that while value growth has been rippling out of Melbourne to Geelong for some time, it has only just started to spill-out into the other three regions recently.  The current premium for Melbourne dwellings relative to the other regions is: 99% for Ballarat (80% long-term average), 100% for Bendigo (74% long-term average), 29% for Geelong (40% long-term average), 123% for Latrobe-Gippsland (89% long-term average). 
There are some explainable reasons why dwelling values in Sydney and Melbourne have risen so substantially over recent years. These include but are not limited to: strong rates of migration to the cities, dramatically increased foreign investors, low mortgage rates, increased demand from investors and much stronger economic conditions than elsewhere in the country. The latest data shows a pull-back in net overseas migration, slowing interstate migration to NSW and Vic, foreign investment has reduced, fewer local investors and reduced availability of credit for housing despite still low mortgage rates. Sydney and Melbourne still have comparatively strong economies but we have started to see the economic performance elsewhere improve. Sydney and Melbourne have also seen a dramatic reduction in housing affordability over recent years as dwelling values have increased much faster than household incomes. The value gap between Sydney and Melbourne and other regions doesn’t necessarily mean that value growth will pick-up elsewhere where dwelling values are much lower. However, if other areas of the country can improve their economic performance, the lure of much more affordable housing may be enough of a lure to see an increasing number of Sydneysiders and Melbournians to migrate away from these two cities to other areas of the country.
Cameron Kusher is a property research analyst for CoreLogic
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Value differential of different capital cities in Australia over the years: Cameron Kusher

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A three bedroom house in Warragul, a town east-south east of Melbourne, has been scheduled for auction on July 28 by mortgagees with an indicative selling price of $330,000.
It was listed by Brendon Van Eyk from Harcourts and the home last sold for $220,000 in 2005.
Nestled on a 627sqm allotment in Warragul North,<a href="https://www.realestate.com.au/property-house-vic-warragul-128715570" target="_blank"> 20 Montrose St</a> features master room with ensuite, two other bedrooms with BIR's, large L shape lounge, as well as separate kitchen and dining. 
It is less than 300 metres from Warragul North Primary School, 600 metres from BP Petrol Station/Convenience store and approx. 2km from the Warragul CBD. 
The suburb's median house price sits at <a href="/developments/warragul-vic-3820">$415,000</a>, according to CoreLogic. 
 
 
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Mortgagee Warragul home going to auction 

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A Wantirna South two bedroom unit has been listed by mortgagees with a price guide of $580,000 to $638,000.
It has been scheduled for auction on July 28 by Michael Hill and Jessica Lander from Noel Jones.
The home was last sold in 2002 for $289,500.
CoreLogic estimates its value with high confidence to be around $633,000.
Situated at<a href="https://www.realestate.com.au/property-unit-vic-wantirna+south-128709358" target="_blank"> 3/4 Leo Close</a>, the East Melbourne home features light-filled living room, large kitchen, generous meals area and two sizeable bedrooms.
Additions that enrich the home further are gas ducted heating, and a double garage.
The unit is within walking distance to Knox Westfield shopping centre, local buses and St Andrews College.
The suburb's median unit price sits at <a href="/developments/wantirna-south-vic-3152">$525,000</a>, according to CoreLogic. 
 
 
 
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Wantirna South two bedroom unit listed by mortgagee

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<div>EXPERT OBSERVER</div>
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<div>Another substantial surge in jobs was reported for June, with total employment up by a seasonally adjusted 50,900 in the month.</div>
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<div>This led to the usual quibbles about whether the figures are 'right' or not. </div>
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<div>This seldom happens when the number are below expectations.</div>
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<div>But when there's a beat...every time!</div>
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<div>There are even occasional calls to ditch the seasonally adjusted figures entirely in favour of the smoother trend data, but I'm not sure I buy that.</div>
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<div>What are the trend figures, after all, but a representation of the same numbers from the survey? </div>
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<div>The further you disaggregate the figures the more prone they are to throwing out unusual results. </div>
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<div>For example, Macquarie highlighted an oddity in that the bulk of jobs growth over the past four months was accounted for by youth employment, especially from the female cohort.</div>
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<div>The detailed labour force figures at the regional level are similarly prone to volatility, which is why the ABS reports annual average figures in addition to the original survey results. </div>
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<div>For all of the grouching, the labour force has continued to tighten gradually over the past few years. </div>
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<div>For the monthly doubters, the seasonally adjusted unemployment rate has now fallen by more than one percent from 6.38 per cent in October 2014 to 5.37 per cent in June 2018.</div>
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<div>If you prefer to use the trend rate, then that's plotted below for you too. </div>
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<div>The unemployment rate is now at the lowest level since 2012. </div>
 
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<div>Another piece of pessimistic statistical trickery is to highlight the underutilisation rate while neglecting to report the more telling volume measures of underutilisation.</div>
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<div>In other words, yes lots of people want more hours of work, but the numbers of extra hours wanted has been declining over the past four calendar years too. </div>
 
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 This is good news, and it should be embraced as such! Welcome to the recovery.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
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The labour market is improving: Pete Wargent

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Hi Margaret,
I'm currently looking to get an investment property in Broken Hill for $69000 which is currently tenanted and is rented out for $180 a week.
 I want your opinion on whether or not it's a good investment as the rent from it is more then double the repayments. 
And it got tenanted within about three weeks of being advertised for rent.
Thanks,
Marcus
 
Hi Marcus,
It can be very tempting to invest in a property whereby the rent more than covers the cost of the mortgage on it. Cash flow is a very important aspect of property investing, as when a property can cover its own expenses and loan interest, then you only have to worry about getting a tenant in.
However, I urge you to think about an investment such as this one over the long term, and understand that capital growth is equally important in every investor’s strategy.
Over the past 5 years, the median value of Broken Hill has decreased by an annual compounding rate of -0.7%. Over the past 10 years it has had an average annual growth of -2.6%
Let’s imagine the next 10 years brings the same result. Your $69,000, after 10 years, would be worth $56,000, having lost for you $13,000 in that time. Sure, you haven't had to put in any money along the way, but if you have borrowed to buy this property, you are in the red by $13,000.  Even if, during that time, you paid of a chunk off the mortgage, the overall outcome has been a negative one, and not the kind of result we would like to see in a sound strategy.
In addition to being able to find a property which has a good enough rental yield to be able to cover its own expenses, the area must have growth drivers. Towns like Broken Hill have a notoriously bad track record for growth, due to itinerant population, lack of infrastructure and lack of population growth.  
When you become a property investor, price should not be the driving factor. You must also understand that growth has no relationship to the price you pay for a property. You would be far better to pay, say, $350,000 in an area that has all of the growth drivers, and get only a 5% return, than you would spend less in an area with a 10% rental return but a negative growth figure. Over time growth compounds so that, by the time you get to retirement, the property is worth far more than the bank loan on it, and the difference belongs to you. Do this often enough and you build a great net worth.
The final point to make is that, when a property loses value, your ability to leverage is also lost. Buying properties which grow means that you can, in the future, borrow against that growth to add more properties to your portfolio. When a property loses value, it’s harder to do this unless you are paying significantly more than the loss off the mortgage. If you cannot leverage into more property, then you cannot build a larger portfolio, and it’s really only through building a portfolio, rather than owning one or two properties, that you really start to see the value in property investing.
Stick to properties in areas with significant infrastructure development, a growing population and lots of families, and you will do far better with your property investing.  
Kind regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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Ask Margaret: Should I invest in a tenanted property?

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A three bedroom house in Alkimos, a coastal suburb of Perth, has been recently listed for $310,000 by mortgagees. 
It was listed by Josh Douglas from Professionals, and was last sold in 2013 as a vacant lot for $177,000.
Located in the Trinity private estate of Alkimos,<a href="https://www.realestate.com.au/property-house-wa-alkimos-128773246" target="_blank"> the 24 Grado Way cottage</a> comes with three large bedrooms, two modern bathrooms, kitchen with stainless fittings, and separate courtyard. 
Other features include high ceilings, tiled flooring throughout living, and double lock up garage.
It is just a short stroll away from schools, shops and other amenities, and just 5 minutes from the pristine WA beaches.
 
 
 
 
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