<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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_" /></p>

<p>The design report identifies the public realm as a central driver of the proposal.</p>

<p>"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."</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>"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."</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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."</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe></p>

<p>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.</p>

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=149637 project_image_fid=351027]</p>

<p>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.</p>

<p>Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.</p>

<p>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.</p>

<p>The agent says buyers are increasingly recognising the area's long-term potential.</p>

<p>"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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=149637 project_image_fid=351031]</p>

<p>For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.</p>

<p>"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."</p>

<p>"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."</p>

<p>More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.</p>

<p>"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."</p>

<p>[smartcode_project:default project_id=149637 project_image_fid=351024]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=149637]</p>


Kew Tallawong: A growing community taking shape in Sydney's north-west

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p data-end="1160" data-start="703">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.</p>

<p data-end="1394" data-start="1162">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.</p>

<p data-end="1767" data-start="1396">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.</p>

<p data-end="1936" data-start="1769">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.</p>

<p data-end="2070" data-start="1938">"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.</p>

<p data-end="2230" data-start="2072">"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."</p>

<p data-end="2397" data-start="2232">Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.</p>

<p data-end="2600" data-start="2399">"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.</p>

<p data-end="2805" data-start="2602">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.</p>

<p data-end="2942" data-start="2807">Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.</p>

<p data-end="3078" data-start="2944">"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.</p>


First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<p><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.</p>

<p>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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362240]<br />
&nbsp;<br />
<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.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
"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.</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362566]<br />
&nbsp;<br />
"What makes these places so successful is that they become much more than residential developments," Brown said.</p>

<p>"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."</p>

<p>Brown has long described absolute waterfront land in Sy​dney as "finite."</p>

<p>"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.<br />
&nbsp;<br />
"<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."</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362564]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
"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.<br />
&nbsp;<br />
"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."</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=291195]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project_cta:default project_id=13962]</p>


Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>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.</p>

<p>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.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>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.</p>

<p>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".</p>

<p>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.</p>

<p>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.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


The inflation result the property market was waiting for

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<p>EXPERT OBSERVATION</p>
<p>According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol fell by 1.4 cents last week to 143.8 cents per litre.</p>
<p>The Singapore gasoline benchmark price is holding at 31⁄2-year highs, pointing to higher pump prices in Australia in coming weeks.</p>
<p>The petrol figures have implications for retailers, especially petrol marketing groups.</p>
<p><strong>What does it all mean?</strong></p>
<p>Aussie drivers continue to approach petrol stations with trepidation. And with good reason. Pump prices are above $1.40 across large swathes of the country and likely to stay there.</p>
<p>Global oil prices are on the march. The Singapore price of unleaded petrol is the key petrol benchmark for Australia. Last week the Singapore gasoline price surged to a fresh 31⁄2-year high of US$91.70 a barrel. And Brent crude oil futures, considered the international price benchmark, breached US$80 per barrel last Thursday, its highest level since November 2014.</p>
<p>Oil prices have risen for six consecutive weeks and are anticipated to increase in the short-term due to supply disruptions. The potential for additional US sanctions on Venezuela following yesterday’s disputed presidential election could crimp OPEC output even further. OPEC oil producers have successfully limited market supplies, supporting prices.</p>
<p>Strengthening global economic activity has also been an important factor pushing up oil prices. But elevated prices could eventually reduce appetite for oil, despite record US shale output.</p>
<p>The International Energy Agency last week revised down its global oil demand forecast by 40,000 barrels per day to 1.4 million barrels per day to average 99.2 million barrels in 2018.</p>
<p>And for good reason. Oil prices have surged by nearly 20% so far this year and around 75% since mid-2017. Soaring petrol and diesel prices are stoking inflationary pressures across the globe at a time when interest rates are rising in countries like the US, UK and Canada.</p>
<p>Developing nations are particularly sensitive to rising oil prices after many countries phased out fuel subsidies when prices were much lower. Therefore, an overall dampening in global oil consumption is likely in the coming months.</p>
<p>Suburban motorists aren’t the only Aussies feeling the petrol and diesel bowser pain at present.</p>
<p>Our farmers are seeing their profits eroded by rising diesel prices. Diesel fuel is necessary for planting, harvesting and shipping crops to market.</p>
<p>In the US, farmers are estimated to spend US$15.3 billion on fuel and oil in 2018, up 8% according to the US Department of Agriculture.</p>
<p>And jet fuel prices have climbed by 15% so far this year according to S&amp;P Global Platts, pushing up airline fuel bills. Fuel costs are second only to labour costs.</p>
<p><strong>What do the figures show?</strong></p>
<p>According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol fell by 1.4 cents to 143.8 cents a litre in the past week.</p>
<p>The metropolitan petrol price fell by 2.2 cents to 142.0 cents per litre, but the regional price rose by 0.3 cents to 147.5 cents per litre. The gross retail margin fell from 13.82 cents to 12.82 cents.</p>
<p>Average unleaded petrol prices across states and territories over the past week were: Sydney (down by 1.7 cents to 140.2 c/l), Melbourne (down by 1.9 cents to 139.5 c/l), Brisbane (down by 0.8 cents to 143.5 c/l), Adelaide (down by 14.7 cents to 140.7 c/l), Perth (up by 1.8 cents to 146.9 c/l), Darwin (up by 0.1 cents to 151.0 c/l), Canberra (up by 0.1 cents at 148.3 c/l) and Hobart (up by 1.2 cents to 153.3c/l).</p>
<p>The national average Australian price of diesel petrol rose by 2.1 cents to 150.2 cents per litre. The metropolitan price rose by 2.3 cents to 151.1 c/l and the regional average price rose by 2.0 cents to 149.5 c/l.</p>
<p>Today, the national average wholesale (terminal gate) unleaded petrol price stands at a 31⁄2-year high of 135.2 cents a litre, up by 2.5 cents over the week. The terminal gate diesel price stands at 138.7 cents a litre, up by 2.7 cents over the past week.</p>
<p>Last week the key Singapore gasoline price rose by US$4.50 or 5.2% to US$91.70 a barrel. In Australian dollar terms the Singapore gasoline price rose by $6.22 or 5.4% to a 31⁄2-year high of $121.96 a barrel or 76.70 cents a litre.</p>
<p>MotorMouth records the following average retail prices for capital cities today: Sydney 152.1c; Melbourne 151.7c; Brisbane 155.3c; Adelaide 136.8c; Perth 139.0c; Canberra 148.8c; Darwin 151.0c; Hobart 149.6c.</p>
<p><strong>What is the importance of the economic data?</strong></p>
<p>Weekly figures on petrol prices are compiled by ORIMA Research on behalf of the Australian Institute of Petroleum (AIP). National average retail prices are calculated as the weighted average of each State/Territory's metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol vehicles in each of these regions. AIP data for retail petrol prices is based on available market data supplied by MotorMouth.</p>
<p><strong>What are the implications for interest rates and investors?</strong></p>
<p>Petrol prices have fallen a smidgen over the past two weeks, but remain elevated.</p>
<p>Developments in global oil markets together with a weaker Aussie dollar are supporting domestic petrol prices weighing on household budgets.</p>
<p>Aussie farmers are feeling the pain too. Rising diesel prices are pushing up their input costs. Food could become more expensive if these costs are passed on to the consumer.</p>
<p>And airline travel may become dearer as jet fuel prices surge. Fuel prices are up by 60% over the past year. That summer holiday in Europe or the US could become more expensive.</p>
<p>CommSec expects interest rates to be unchanged for the foreseeable future.</p>
<p><em><strong>Ryan Felsman</strong> is a senior economist at CommSec.</em></p>
</body></html>

cjames-5S2v74qSNK

Aussie drivers approach petrol stations with trepidation: CommSec's Ryan Felsman

<html><body>
<p>A four bedroom house over 5 acres in Esk, a suburb in the South East Queensland, has been listed for sale at $299,000 by the mortgagees.</p>
<p>It is presented by Jocelyn Frost from LJ Hooker. It last sold at $234,000 in 2005.</p>
<p><a href="https://www.realestate.com.au/property-house-qld-esk-128256590" target="_blank">Situated at 42 Aspen Drive</a>, the 1980s house comes with four good size bedrooms, open plan living/kitchen/dining, upstairs verandah and double garage space.</p>
<p>It is only 10 minutes from the shopping precinct of Esk, and 30 minutes from Gatton.</p>
<p>The suburb's median house price is $280,000, according to CoreLogic. </p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Esk, Queensland house listed by mortgagee

<html><body>
<p>A multifaceted Hotel Motel in Hay Point with beachfront views has hit the market.</p>
<p>Savills Hotels agents Leon Alaban, Brent McCarthy and Christian Tsailikis are marketing the property in an area where the market is bouncing back due to a resurgence in mining activity.<span class="Apple-converted-space"> </span></p>
<p>The Hay Point Hotel Motel at <a href="https://www.commercialrealestate.com.au/property/1272-hay-point-road-hay-point-qld-4740-2014383310" target="_blank">1272 Hay Point Road</a> has a June 20 auction, with local and interstate investors expected to be interested.</p>
<p>Christian Tsalikis said it was an ideal time to purchase the asset.<span class="Apple-converted-space">   </span></p>
<p class="p1"><span class="s1">“The successful purchaser is presented with an opportunity to acquire the asset at a time where market conditions in the region are continuing to improve," he said.</span></p>
<p class="p1"><span class="s1">“With the local economy primarily underpinned by tourism, agriculture and mining activity, the influx of visitors to the area throughout this period has set the local economy on a steady incline."</span></p>
<p class="p1"><span class="s1">The two hectare ocean front site located around 40 kilometres south of Mackay is minutes from the Dalrymple Bay and the BMA Hay Point coal terminals.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">“The waterfront exposure is arguably the main attraction of the property, and a real investment highlight," Savills agent Leon Alaban said.<span class="Apple-converted-space"><br></span></span></p>
<p class="p1"><span class="s1">“The beachfront location provides patrons, diners, and lodgers with a relaxed and picturesque view."</span></p>
<p class="p1"><span class="s1">The complex features a public bar complete with nine electronic gaming machines (EGM's), a bistro bar and dining room plus alfresco dining space, a commercial kitchen, an additional gaming room with a further 26 EGMs, plus TAB and Keno.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">Hay Point Hotel Motel also has a drive through bottle shop on site.</span></p>
<p class="p1"><span class="s1">The Hotel services the immediate catchment unopposed, being the only general licence venue for around 25 kilometres, according to Brent McCarthy.</span></p>
<p class="p1"><span class="s1"><br></span></p>
</body></html>

jrobinson-rf4aSBido9

Hotel Motel at Mackay's Hay Point listed through Savills

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">EXPERT OBSERVATION</div>
<div class="column"> </div>
<div class="column">We have delayed the timing of when we expect the RBA to start a gradual rate hiking cycle.<br><p style="display: inline !important;"> </p>
<p style="display: inline !important;">The change reflects the fact there is no sign yet of stronger wages growth and unemployment has been stuck around 5.5% for the best part of a year.</p>
</div>
<div class="column"> </div>
<div class="column">While still very data dependent we now have the start of the rate hiking cycle in mid-2019.</div>
<div class="column">
<br><p style="display: inline !important;">We still expect the economy to strengthen, leading to a declining unemployment rate. This should eventually translate into stronger wages growth and give the RBA confidence that inflation will track back to its 2.5% target. However, we acknowledge there is considerable uncertainty around the timing at which wages growth will strengthen, and the time of the RBA’s next move will remain highly data dependent.</p>
<p>For some time NAB has been forecasting that if the economy were to improve as expected, then the RBA would at some point feel confident enough with the economic outlook to start the process of raising the cash rate from its current low level of 11⁄2%. In particular, our view has been that economic growth will strengthen over the coming year and that, with the pace of jobs growth already solid, this would lead to a declining unemployment rate and as a result upwards pressure on wages growth and inflation.</p>
<p>We still consider that this is the most likely trajectory for the economy and RBA policy. However, this week’s data on wages and the labour market indicate that November 2018, our previous forecast for the first rate rise, is too early and we now expect the RBA to be on hold through the rest of this year.</p>
<p>The unemployment rate ticked up 0.1ppt in April to 5.6%, and while the monthly data can bounce around, it adds to the evidence that progress in reducing the unemployment rate has stalled. The ABS measure of the trend unemployment rate has been at 5.5% since August last year; while jobs growth has been solid over this period, this has been offset by further increases in workforce participation. On the wages front, the Wage Price Index (WPI) for the March quarter 2018 was unchanged at 2.1% y/y, with private sector wages growth also unchanged at a slightly weaker 1.9% y/y and showing no signs of accelerating.</p>
<p>The RBA’s view on the outlook for the Australian economy is similar to NAB’s, in that it expects growth to strengthen, and for unemployment to decline leading to a pick-up in wages. The Bank continues to expect progress on unemployment, wages and inflation to be only gradual and has made clear that there is not a strong case for a near-term change in the cash rate. This week’s wage and unemployment data clearly will have done nothing to change this view. Quite reasonably, the RBA does not see 2% wages growth as consistent with 2.5% inflation over time and wants to see some pick-up in wages before lifting rates.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/5/21/NAB1.jpg" target="_blank">to enlarge.</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/21/NAB1.jpg" alt=""></p>
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span>We still believe that conditions are in place for wages growth to rise in the future. Our modelling of factors that affect wages – inflation, labour market underutilisation, productivity and the terms of trade - suggest that we would already have expected to see stronger wages growth. Clearly this has not happened and may reflect the need for the unemployment rate to get closer to its long-term ‘neutral’ rate of 5% or lower, before </span>sufficient wage pressures emerge. This has been the experience of other countries in recent years.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/5/21/NAB2.jpg" target="_blank">to enlarge.</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/21/NAB2.jpg" alt=""></p>
<p>With the unemployment rate stuck around 5.5% recently, we now don’t expect the unemployment rate to get close to the 5% mark until mid-2019. That said, businesses continue to indicate – through our Quarterly Business Survey – that they are finding it increasingly difficult to find suitable labour; historically this has been associated with a decline in the unemployment rate, as well as the underutilisation rate and, ultimately, wages growth.</p>
</div>
</div>
</div>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
<p><span>As a result our forecasts for WPI growth are more conservative than the model projections but we still expect to see some acceleration in wages growth. We are projecting that by mid-2019 WPI growth will reach the 21⁄2% y/y mark. At that time, with unemployment close to its full-employment level, growth above trend and wages growth gradually accelerating, we expect the RBA would have sufficient confidence that inflation will move back towards target and so start to gradually lift the cash rate off its current very low level. </span></p>
<p><span>We expect once the tightening cycle starts, further rate increases will be very gradual. We are now expecting the first move to be in mid (May) 2019, with the next move after that not until late in the year (November 2019).</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/5/21/NAB3.jpg" target="_blank">to enlarge.</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/21/NAB3.jpg" alt=""></span></p>
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<p><span>However we acknowledge that there is considerable uncertainty around the timing of the RBA’s next move. The divergence of wages growth from what is suggested by the models makes this uncertainty greater than usual. The RBA will remain heavily data dependent and will want to see sustained signs of a pick-up in wages growth before moving, even if the rest of the economy moves in line with expectations.</span></p>
<p class="p1"><span class="s1"><em>Alan Oster is group chief economist, National Australia Bank, and can be contacted </em><a href="https://business.nab.com.au/author/alan-oster/"><span class="s2"><em>here</em></span></a><em>.</em></span></p>
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NAB push back RBA cash rate hike forecast to mid 2019

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<div>A new campaign is encouraging Australians to ’Own Your Banking.’</div>
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<div>Looking at the benefits of customer owned banking, the Customer Owned Banking Association launched the campaign following increased interest and demand from customers. <br><br>“Own Your Banking is a direct response to our members telling us they’ve seen an uptick in customer interest and enquiries because people are shocked by stories they’ve been hearing in the Royal Commission,” COBA CEO Michael Lawrence said.<br><br>“Our model is the only alternative that can claim it is solely customer focused because 100% of profits are used to benefit customers. This is what we’re communicating through the ‘Own your Banking’ campaign.<br><br>“Four million Australians already own their banking – they are customers of mutual banks, credit unions and building societies across Australia.<br><br>“We hope ‘Own Your Banking’ will let consumers know there are plenty of alternatives in the Australian banking market that can be trusted to put them first. <br><br>“There are more than 70 mutual banks, credit unions and building societies located across Australia. We are market leaders in customer satisfaction and offer award winning home loans and low rate credit cards.</div>
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New campaign encouraging Australians to Own Your Banking

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<p>Set on approximately 860 sqm land, a 1970s north-west Geelong house has been listed by mortgagees with an indicative selling price of $415,000.</p>
<p>It was listed by Brad Archer from Burns Archer Realty.</p>
<p>The Lara auction has been scheduled for June 16.</p>
<p>It sold at $200,000 in 2005.</p>
<p><a href="https://www.realestate.com.au/property-house-vic-lara-128381554" target="_blank">Located at 19 Ponds Drive</a>, the home comes with three bedrooms, lounge, and kitchen with adjacent meals area. </p>
<p>It is only a short stroll to the Kevin Hoffman Walk and its surrounding parklands with all other amenities.</p>
<p>The suburb's median house price sits on <a href="https://www.realestate.com.au/property-house-vic-lara-128381554" target="_blank">$445,000</a>, according to CoreLogic. </p>
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Lara three bedroom house listed by mortgagee

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<p><span>All of the busiest suburbs for auctions on the weekend were </span>in Victoria. Reservoir topped the list with 19 homes set to go under the hammer, followed by Bentleigh East and Mount Waverley with 14 auctions each.</p>
<p>A Reservoir four bedroom house with hopes for over $1 million (above) sold for $1.26 million.</p>
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<p><a href="https://www.realestate.com.au/property-house-vic-reservoir-128199090" target="_blank">Located at 29 Queen St</a>, Reservoir, the house with city skyline with comes with <span>four generous bedrooms, formal lounge, kitchen/meals with stainless steel cooker and adjoining living room.</span></p>
<p><span><span>Other features include gas heating and ducted evaporative cooling, wood heater (living room), high ceilings, laundry, and large storeroom/kitchenette.</span></span></p>
<p><span><span>It is within w<span>alking distance to buses, Regent Station and Plenty Road trams, local cafes and parks, and Preston Primary School. </span></span></span></p>
<p><span><span><span>There was a higher sale at $1,332,000 according to the REIV.</span></span></span></p>
<table><tbody>
<tr>
<td>2 Ashton St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/19d3ef48.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Barry Plant</td>
<td> </td>
</tr>
<tr>
<td>36 Callander St, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/560a5051.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
</tr>
<tr>
<td>2/15 Cheddar Rd, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/259295.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
</tr>
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<td>30 Dawson St, RESERVOIR</td>
<td>5</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/9f6c6038.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
</tr>
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<td>23 Kia Ora Rd, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ab4503cd.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
</tr>
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<td>21 Lloyd Av, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/19d3ef48.jpg"></td>
<td>House (Res)</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>2/6 Mccrae St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/953d8ea5.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Barry Plant</td>
<td> </td>
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<td>27 Moira Av, RESERVOIR</td>
<td>4</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/c492629f.jpg"></td>
<td>House (Res)</td>
<td>Passed in Vendor Bid</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>791 Plenty Rd, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ddd9262b.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Love &amp; Co</td>
<td> </td>
</tr>
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<td>3/90 Purinuan Rd, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/5e91fe25.jpg"></td>
<td>Unit</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Ray White</td>
<td> </td>
</tr>
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<td>29 Queen St, RESERVOIR</td>
<td>4</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/9e344320.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>Nelson Alexander</td>
<td> </td>
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<td>2/214 Spring St, RESERVOIR</td>
<td>2</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/d6f4f25d.jpg"></td>
<td>Unit</td>
<td>Passed in at Auction</td>
<td>19/05/2018</td>
<td>Stockdale &amp; Leggo Reservoir</td>
<td> </td>
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<td>47 Wattle Gr, RESERVOIR</td>
<td>3</td>
<td><img src="https://reiv.com.au/REIV/propertyimages/prices/ceac3eb8.jpg"></td>
<td>House (Res)</td>
<td>Auction Sale</td>
<td>19/05/2018</td>
<td>LJ Hooker South Morang</td>
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<p><span>A clearance rate of 64 per cent was recorded on the weekend compared to 63 per cent last weekend and 80 per cent this weekend last year. </span></p>
<p><span>There were 798 auctions reported to the REIV, with 512 selling and 286 being passed in, 153 of those on a vendor bid.</span></p>
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Reservoir weekend auctions top out at $1,332,000

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<p>There were 669 auctions held in Sydney returning a preliminary auction clearance rate of 60.8 per cent, according to CoreLogic,compared to 57.5 per cent across 787 last week, and 74 per cent across 1,075 auctions one year ago.</p>
<p>Sydney's top sale was $4.86 million in Fairlight. The <a id="LPlnk188840" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-apartment-nsw-fairlight-128147582" target="_blank" rel="noopener noreferrer">58/1 Lauderdale Avenue apartment offering</a> (above) through Stone Real Estate agent Adam Moore was for the first time since construction three decades ago.</p>
<p>The four bedroom, four bathroom penthouse came with 436 sqm space. The price guide for the harbourfont home was $4 million to $4.4 million.</p>
<p>It last sold at $735,000 in 1987.</p>
<p>There were 2,089 homes taken to auction nationally across the combined capital cities, returning a preliminary auction clearance rate of 60.3 per cent.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/5/21/capitals_may21.jpg" target="_blank">to enlarge.</a></p>
<p><a href="https://www.propertyobserver.com.au/images/2018/5/21/capitals_may21.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/21/capitals_may21.jpg" alt=""></a></p>
<p>Last week, 2,279 auctions were held and the final clearance rate dropped to 58.2 per cent, the lowest clearance rate seen since December 2015.</p>
<p>Over the same week last year, auction volumes were higher with 2,824 homes going under the hammer across the combined capital cities, returning a clearance rate of 73.1 per cent.</p>
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<p>In Melbourne, Australia’s largest auctionmarket, a preliminary auction clearance rate of 64.2 per cent was recorded across 1,028 auctions this weekend, up from 59.8 per cent across 1,099 auctions last week, the lowest clearance rate the city has seen since Easter 2014.</p>
<p>One year ago, the clearance rate was a stronger 77.9 per cent across 1,326 auctions..</p>
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<p>Melbourne's top sale was in Malvern East.</p>
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<p>Kilburn, the five bedroom, four bathroom home on 920 sqm at <a id="LPlnk440955" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/56-kerferd-street-malvern-east-vic/property-details-buy-residential-11799951/" target="_blank" rel="noopener noreferrer">56 Kerferd Street</a> (below), fetched $6.11 million through Thomson agent John Chartres.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/21/kilburn.jpg" alt=""></p>
<p>It was marketed as showcasing "a remarkable sense of refined luxury throughout three brilliantly conceived levels."</p>
<p>Its price guidance was $5.5 million to $6.05 million, with it announced on the market at $6.025 million.</p>
<p>There were two bidders.</p>
<p>It last sold in 2003 at $1,375,000.</p>
<p>Melbourne's cheapest sale was a retirement villa at Frankston. The <a id="LPlnk878112" class="x_OWAAutoLink" href="https://www.realestateview.com.au/real-estate/10-4-6-foot-street-frankston-vic/property-details-buy-residential-11805063/" target="_blank" rel="noopener noreferrer">10/4-6 Foot Street offering</a> (below) fetched $288,000. There had been $275,000 to $300,000 price guidance on the late 1990s two bedroom single storey unit. It last sold at $169,000 in 2007.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/21/foot%20st.jpg" alt=""></p>
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<p>Across the smaller auction markets, preliminary results show that Canberra was again the best performing with a 66.2 per cent success rate across 79 auctions.</p>
<p>Its top seller was at Red Hill where $1.58 million was paid for <a id="LPlnk558662" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-act-red+hill-128155210" target="_blank" rel="noopener noreferrer">3 Golden Grove</a>, an early 1960s four bedroom, two bathroom brick home. It was offered for the first time in over 50 years.</p>
<p>The nation's cheapest auction result was $273,000 through Ray White for 17 Ashvale Street, Kingston, a three bedroom Brisbane home needing a renovation situated on a flat 607 sqm parcel.</p>
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<p>It last sold at $259,000 in 2016 and at $230,000 in 2013.</p>
<p>Brisbane's top sale was at Paddington. It was an unrenovated 1912 Queenslander on 1000 sqm that sold through Place agent Andrew Degn who the Courier Mail advised had eight buyers register to bid on <a id="LPlnk56250" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-paddington-128163226" target="_blank" rel="noopener noreferrer">77 Tooth Avenue, Paddington</a>. It sold for $1.92 million, having been in the family for over 100 years. </p>
<p>There was also a newly renovated 1930s Queenslander at <a id="LPlnk670208" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-bardon-128213294" target="_blank" rel="noopener noreferrer">25 Runic Street</a> that fetched $1.75 million through Degn.</p>
<p>It last traded at $625,000 in 2011.</p>
<p>There was a $2.6 million sale at Hollywell on the Gold Coast when a deceased estate went to auction.</p>
<p>"This property was handpicked from the initial subdivision plans 40 years ago," the marketing for <a id="LPlnk563326" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-hollywell-128092498" target="_blank" rel="noopener noreferrer">2 Sapphire Street</a> advised.</p>
<p>It came with 1058 sqm Broadwater frontage.</p>
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Fairlight penthouse tops Sydney weekend auction results

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<div><span>A solid headline result for employment growth in April 2018, beating expectations of 20,000, with total seasonally adjusted employment up by 22,600 to beyond 12<span>½</span> million for the first time, driven by a substantial 32,700 increase in full time jobs.</span></div>
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<div>There were, however, adverse revisions to take into account for the preceding month. </div>
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<div>Click here <a href="https://3.bp.blogspot.com/-cSFR5OFaXS8/Wv0rFcRhMQI/AAAAAAAAqFs/ni7qvpHrW1IG6pa-CJ-CqqHyNmyokZuYQCLcBGAs/s640/A1.jpg" target="_blank">to enlarge.</a>
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<div>Alas, the Coalition's favoured '1000 jobs per month' slogan is going to have to be canned forthwith, with annual employment growth down from a record high of 431,200 in January 2018 to 332,200 (or 2.73 per cent) by April. </div>
<p>Click here <a href="https://2.bp.blogspot.com/-_JFbqwgARDc/Wv0rFQ_Ib9I/AAAAAAAAqFw/Yy8kZrFzvI8ZiFYm7PFFKrAPo0ZGSzJAACLcBGAs/s640/A2.jpg" target="_blank">to enlarge.</a></p>
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<p><br><strong><span style="text-decoration: underline;">State versus state (NSW superboom)</span></strong><br><br></p>
<div>Employment blazed another 27,600 higher in New South Wales to be up by 46,800 over the quarter, and a thunderous 156,000 year-on-year, casting further doubt on the endless gloomy house price predictions, with first homebuyers also now wading in. </div>
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<div>The New South Wales economy has added well over 300,000 extra jobs over the past three years, something achieved for the first time ever on a rolling 3-year basis in the past few months across more than 40 years of available figures. </div>
<p>Click here <a href="https://3.bp.blogspot.com/-hU-FibmfM9o/Wv0rFEzr5GI/AAAAAAAAqFo/YE68F8xEGcMtqe9nrQ6JYlK-D9crzfLkACLcBGAs/s640/A3.jpg" target="_blank">to enlarge.</a> </p>
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<div>One of the extraordinary aspects of this cycle has been the sheer concentration of employment growth.<br><br>Of the suburbs where participation rates have been rising almost all of them are in the inner suburban heart the big capital cities, while more than half of jobs have been created within a tiny 2-kilometre radius of the Sydney and Melbourne CBDs.<br><br>Small wonder the competition for prime location land continues to intensify.<br><br>Queensland's jobs boom seems to have tapered back, with annual employment growth in trend terms now at 3.5 per cent, remaining comfortably in second place only to New South Wales at a supercharged 3.8 per cent. </div>
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<div>Interestingly the trend participation rate hit a record high 65.7 per cent in April driven by female and older workers entering the labour force, with the unemployment rate ticking up a notch to 5.6 per cent. </div>
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<div>Click here <a href="https://4.bp.blogspot.com/-_ANT7qWj-sE/Wv0rGiDqpLI/AAAAAAAAqGM/1wL4OeEc2_Qfu93prKaJ5OTpNvAt7K4WACEwYBhgL/s640/A5.jpg" target="_blank">to enlarge.</a>
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<p>Despite searing annual population growth of 123,100 and 147,400 in the two most populous states respectively, New South Wales has a trend unemployment rate of just 4.9 per cent while Victoria has seen its trend unemployment rate crunched lower to 5.3 per cent, down from 6.1 per cent a year earlier. </p>
<p>Click here <a href="https://4.bp.blogspot.com/--TIYS4_qVXQ/Wv0rGSfiMwI/AAAAAAAAqF0/k_KZjy70WNEuwkE2jt4Cr5UIlwBpR9j8gCLcBGAs/s640/A4.jpg" target="_blank">to enlarge.</a></p>
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<div>Finally, and to finish on a positive note, the trend annual growth in monthly hours worked increased to 3.3 per cent, the highest level since all the way back in August 2010. </div>
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<div>Click here <a href="https://2.bp.blogspot.com/-IGsidl1U7dg/Wv0rHIOpcFI/AAAAAAAAqF8/uoGPI43dbcM5jHX6TIimeuaWZuE3aXDGwCLcBGAs/s640/A6.jpg" target="_blank">to enlarge.</a>
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<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
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<div>Overall, these figures would be construed as disappointing if you don't live in New South Wales, where the stamp duty/infrastructure boom is paying some serious dividends. </div>
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<div>Employment growth in recent times has been quite heavily focused in healthcare and construction, which might in part account for why wages growth has generally been tepid across most industries.<br><br>Underutilisation remains elevated, despite a modest improvement. </div>
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<div>Despite the uptick in the unemployment rate policymakers will most likely see enough positives here to stay on the sidelines for the foreseeable future. </div>
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<div>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>.</div>
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pwargent-M4siyDbqQY

New South Wales, where the stamp duty/infrastructure boom is paying serious dividends: Pete Wargent

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<p>Sydney buyers are certainly spoilt for choice, but there are emerging signs the listings surge of the past year is waning.</p>
<p>There are 27,000 properties currently for sale by private treaty across the Sydney market.</p>
<p>That's a lot on offer, indeed around 25% more than last May, according to CoreLogic.</p>
<p>Interestingly the 7,000 fresh listings in the past month sits 10% down on the same time last year.</p>
<p>That suggests the last ditch rush to sell is slowing after Sydney's cooling conditions have grabbed the headlines and ebbed into realistic conversations. </p>
<p>There ought be an increased realisation among prospective vendors that the chance to cash in at peak prices has likely passed.</p>
<p>Vendor expectations are increasingly not being met, except for premium listings across the suburbs. A-grade stock is still selling well, through private treaty and at or before auction.  </p>
<p>Many of the 27,000 current private treaty offerings will not be sold this time around because their vendor missed the market peak that they hoped to capitalise on.</p>
<p>They might linger on websites and in estate agent windows, but pointlessly if they aren't repriced to sell in the current and emerging market.</p>
<p>These listings will hang around making up the estate agent's expansive inventory as we head into the winter hibernation.</p>
<p>Stale listings are much harder to sell since the keenest knowledgable buyers have typically moved on after their initial marketing. </p>
<p>These stale listings ideally need to be withdrawn to try another time.</p>
<p>Meanwhile the number of sales has eased according to official NSW Office of State Revenue data. </p>
<p>In March there were 16,950 property transfers, the quietest for four years as buyers become pickier, taking their time without the fear of missing out.</p>
<p>Last March, which didn't have the Easter interruption until mid-April, had 19,500 transfers. The March stamp duty revenue for the state government was $642 million compared to $701 million.</p>
<p>There were 49,000 sales in the first three months of 2018, compared to 52,000 early last year, with the soon to be advised April tally to help the state government shape its upcoming budget.</p>
<p>If these early readings become a marked trend, there won't be anywhere near as much revenue available for the government to spend.</p>
<p>The discussion about the listings and sales in the market is premised that there is choice for all participants.</p>
<p>Certainly arrears and mortgagee sales are at low levels.</p>
<p>The elephant in the room is bank lending which has increasingly restrained buyer capacity.</p>
<p>Just this week the Reserve Bank of Australia deputy governor Guy Debelle indicated there was a "risk" of even further tightening in lending standards ahead.</p>
<p>"This may have its largest effect on the amount of funds an individual household can borrow, more than the effect on the number of households that are eligible for a loan," he noted while adding that has implications for house prices."</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
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