Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Joel Robinson

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

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.

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.

<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>

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

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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Cities will be driving globalisation and innovation in the emerging world order.
France recently appointed a tech ambassador to the Silicon Valley. French President Emmanuel Macron named David Martinon as “<a href="https://www.diplomatie.gouv.fr/en/french-foreign-policy/digital-diplomacy/events/article/digital-affairs-appointment-of-an-ambassador-22-11-17" target="_blank">ambassador for digital affairs</a>”, with jurisdiction over the digital issues that the foreign affairs ministry deals with. This includes digital governance, international negotiations and support for digital companies’ export operations.
The appointment is part of France’s <a href="https://au.ambafrance.org/France-s-international-digital-strategy" target="_blank">international digital strategy</a>, which is becoming a focus of its foreign policy. And France isn’t alone in doing this.
In early 2017, Denmark <a href="http://www.wired.co.uk/article/casper-klynge-first-ever-silicon-valley-tech-ambassador" target="_blank">appointed</a> a <a href="http://techamb.um.dk/en/" target="_blank">“TechPlomacy” ambassador</a> to the tech industry. <a href="https://twitter.com/DKTechAmb" target="_blank">Casper Klynge</a> is possibly the first-ever envoy to be dispatched to Silicon Valley with a clear mandate to build better relationships with major technology firms.
In an <a href="http://politiken.dk/udland/art5806849/Danmark-f%C3%A5r-som-det-f%C3%B8rste-land-i-verden-en-digital-ambassad%C3%B8r" target="_blank">interview</a> with Danish newspaper Politiken, Foreign Minister Anders Samuelsen said: Big companies affect Denmark just as much as entire countries.
He isn’t wrong. According to geopolitical strategist <a href="https://www.paragkhanna.com/" target="_blank">Parag Khanna</a>, the world’s top tech companies are <a href="http://foreignpolicy.com/2016/03/15/these-25-companies-are-more-powerful-than-many-countries-multinational-corporate-wealth-power/" target="_blank">achieving more international influence</a> and economic power than dozens of nations put together. In 2016, the <a href="https://www.businessinsider.com.au/chart-us-companies-with-largest-cash-reserves-2017-8?r=US&amp;IR=T" target="_blank">cash that Apple had on hand</a> exceeded the gross domestic product (GDP) of <a href="http://foreignpolicy.com/2016/03/15/these-25-companies-are-more-powerful-than-many-countries-multinational-corporate-wealth-power/" target="_blank">two-thirds of the world’s countries</a>.
Some of these global players are also influential policy actors in their own right. In 2016, <a href="http://foreignpolicy.com/" target="_blank">Foreign Policy</a> presented its <a href="http://foreignpolicy.com/2016/11/17/watch-fps-diplomat-of-the-year-awards/" target="_blank">Diplomat of the Year Award</a> to Eric Schmidt, executive chairman of Google parent company Alphabet Inc. The award was in recognition of Google’s contributions to international relations through empowering citizens globally.
<h2>What’s different about TechPlomacy?</h2>
The recent ambassadorial appointments signify not only the important socio-economic and political roles of technology, but also how diplomacy is evolving and adapting to the disruptive changes in our societies.
These developments mark the prominence of tech-cities on the global scene. Nation states are no longer the only players in international affairs; cities are also taking centre stage.
As opposed to lobbying governments in the world’s capitals, the new breed of diplomats will target tech-cities with multi-trillion-dollar technology sectors. They will also rub shoulders and nurture a direct dialogue with organisations that have gigantic economic impacts. In 2016, for example, Google helped to <a href="https://economicimpact.google.com/reports/2016/ei-report-2016-ca.pdf" target="_blank">inject US$222 billion in economic activity</a> in the US alone.
The so-called “Google ambassadors” won’t be targeting Silicon Valley only. The <a href="http://techamb.um.dk/" target="_blank">Office of Denmark’s Tech Ambassador</a> has a team with physical presence across three time zones in North America, Europe and Asia. It will also connect with tech hubs around the world.
As part of an interconnected planet, these tech hubs will increasingly play a more active role in the global economy. Decision-makers are starting to recognise the imperative to establish good relationships and understand the tech giants’ policies and agendas.
<h2>Cities as autonomous diplomatic units</h2>
The rise of cities as “<a href="https://www.theatlantic.com/international/archive/2013/04/around-the-world-mayors-take-charge/275335/" target="_blank">autonomous diplomatic units</a>” may be a defining feature of the 21st century.
Already, just <a href="http://foreignpolicy.com/2010/08/06/beyond-city-limits/" target="_blank">100 cities account for 30% of the world’s economy</a> and almost all its innovation. New York and London, together, represent <a href="http://foreignpolicy.com/2010/08/06/beyond-city-limits/" target="_blank">40% of global market capitalisation</a>. According to the <a href="https://www.mckinsey.com/mgi/overview" target="_blank">McKinsey Global Institute</a>, the <a href="https://www.mckinsey.com/global-themes/urbanization/urban-world-mapping-the-economic-power-of-cities" target="_blank">top 600 cities generate 60% of global GDP</a> and are projected to be home to 25% of the world’s population by 2025.
McKinsey expects that 136 new cities will make it into the top 600 by 2025. All these new cities are from the developing world – 100 of them from China alone.
These <a href="https://www.mckinsey.com/global-themes/urbanization/when-cities-rule-the-world" target="_blank">global cities appear likely to dominate</a> the 21st century. They will become magnets for economic activity and engines of globalisation. <a href="http://foreignpolicy.com/2010/08/06/beyond-city-limits/">Khanna</a> argues:
<blockquote>
… [C]ities rather than states or nations are becoming the islands of governance on which the future world order will be built.
</blockquote>
He also suggests that <a href="https://www.ted.com/talks/parag_khanna_how_megacities_are_changing_the_map_of_the_world/transcript">connectivity</a> through an expanding matrix of infrastructure (64 million kilometres of roads, 4 million kilometres of railways and 1 million kilometres of internet cables) will far outweigh the importance of 500,000 kilometres of international borders.
<h2>Still more questions than answers</h2>
As more cities assert their leadership on the world stage, new mechanisms and networks (e.g. <a href="http://www.c40.org/" target="_blank">C40 Cities)</a> could emerge. That could signal a new generation of diplomacy that relates and engages with cities rather than bilateral collaboration between nations.
<img src="https://images.theconversation.com/files/201833/original/file-20180114-101498-4zjkdk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
The C40 Cities Climate Leadership Group connects more than 90 of the world’s major cities. The Independent UK
Although these new diplomatic outposts have generated some <a href="http://www.mcclatchydc.com/news/nation-world/national/national-security/article159128749" target="_blank">profound interest</a>, questions remain.
Will this era of tech diplomacy create collaborative ways to develop and achieve foreign policy priorities? Will it increasingly become a unifying global priority?
Do these appointments signify a transformation in international relationships? Will big tech companies also develop diplomatic capacities?
And will we witness the emergence of a post-national ideology of <a href="https://www.propertyobserver.com.au/https://press.princeton.edu/titles/9544" target="_blank">civic-ism</a>, whereby people’s <a href="https://www.huffingtonpost.com/daniel-a-bell/civicism-cities-nationalism_b_1138929" target="_blank">loyalty to the city</a> surpasses that to a nation?
<h2>What comes next?</h2>
Not everyone will be excited by these appointments. Many would downplay their significance. Others would argue that tech companies have been engaged globally for years, and that they do this anyway as part of their “business as usual” activities.
Whether you embrace or object to it, a new world order is emerging around cities and their economies, rather than nations and their borders. These cities may ultimately chart pathways to their own sovereign diplomacy and formulate their own codes of conduct.
<img src="https://counter.theconversation.com/content/89959/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">It is anyone’s guess whether the future will bear any resemblance to TechPlomacy or something else we haven’t yet imagined. The significance of these appointments will become clearer as the envoys go to work and we begin to understand the possibilities.
<a href="https://theconversation.com/profiles/hussein-dia-110689" target="_blank">Hussein Dia</a>, Associate Professor, <a href="http://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/tech-diplomacy-cities-drive-a-new-era-of-digital-policy-and-innovation-89959" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Cities drive a new era of digital policy and innovation

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At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.
There was a broad-based pick-up in the global economy in 2017. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. Growth has also picked up in the Asian economies, partly supported by increased international trade. The Chinese economy continues to grow solidly, with the authorities paying increased attention to the risks in the financial sector and the sustainability of growth.
The pick-up in the global economy has contributed to a rise in oil and other commodity prices over recent months. Even so, Australia's terms of trade are expected to decline over the next couple of years, but remain at a relatively high level.
Globally, inflation remains low, although higher commodity prices and tight labour markets are likely to see inflation increase over the next couple of years. Long-term bond yields have risen but are still low. As conditions have improved in the global economy, a number of central banks have withdrawn some monetary stimulus. Financial conditions remain expansionary, with credit spreads narrow.
The Bank's central forecast for the Australian economy is for GDP growth to pick up, to average a bit above 3 per cent over the next couple of years. The data over the summer have been consistent with this outlook. Business conditions are positive and the outlook for non-mining business investment has improved. Increased public infrastructure investment is also supporting the economy. One continuing source of uncertainty is the outlook for household consumption. Household incomes are growing slowly and debt levels are high.
Employment grew strongly over 2017 and the unemployment rate declined. Employment has been rising in all states and has been accompanied by a significant rise in labour force participation. The various forward-looking indicators continue to point to solid growth in employment over the period ahead, with a further gradual reduction in the unemployment rate expected. Notwithstanding the improving labour market, wage growth remains low. This is likely to continue for a while yet, although the stronger economy should see some lift in wage growth over time. There are reports that some employers are finding it more difficult to hire workers with the necessary skills.
Inflation is low, with both CPI and underlying inflation running a little below 2 per cent. Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing. A gradual pick-up in inflation is, however, expected as the economy strengthens. The central forecast is for CPI inflation to be a bit above 2 per cent in 2018.
On a trade-weighted basis, the Australian dollar remains within the range that it has been in over the past two years. An appreciating exchange rate would be expected to result in a slower pick-up in economic activity and inflation than currently forecast.
Nationwide measures of housing prices are little changed over the past six months, with prices having recorded falls in some areas. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. To address the medium-term risks associated with high and rising household indebtedness, APRA introduced a number of supervisory measures. Tighter credit standards have also been helpful in containing the build-up of risk in household balance sheets.
The low level of interest rates is continuing to support the Australian economy. Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
Click here to read the <a href="http://www.rba.gov.au/media-releases/2018/mr-18-01" target="_blank">governor's statement.</a>
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po-LsXgBTHBmX

Little property price change noted: RBA February 2018 Governor's statement 

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The first meeting of the Reserve Bank of Australia for 2018 saw no change in the official cash rate.
The central bank's last move saw it go to 1.5 percent at the August 2016 meeting, so rates have been held steady for 17 meetings.
It is the longest run of steady rates as there were 16 meetings (inclusive) between their August 2013 meeting and December 2014 where they held at 2.5 percent. There was another run of 16 meetings between July 2002 and October 2003 where rates were held at 4.75 percent.
Almost all economists predicted a hold at the first meeting of the year.
Most don't foresee any change throughout much of 2018.
Tim Lawless, CoreLogic's head of research and analytics, said the hold decision was expected.
"With headline inflation remaining below the RBA’s target range of 2-3%, housing markets moving through a controlled slow down, a higher than forecast Australian dollar and household debt at record highs, the hold decision from the Reserve Bank was widely expected.
"With national dwelling values now drifting lower, the RBA can now focus more on economic trends outside of the housing market when contemplating monetary policy settings. 
According to CoreLogic’s’ hedonic indices, the heat has come out of the Australian housing market, with national dwelling values falling by 0.7% since peaking in September last year.
Falling dwelling values are the result of tighter credit conditions rather than any changes in monetary policy settings.   Despite the stable cash rate, investors have seen an average 40 basis points increase in their mortgage rates due to higher capital requirements from lenders, which has helped to slow investment demand and quell rapidly rising home values.
Interest rates won’t stay at their record lows forever.  Financial markets have fully priced a 25 basis point rise by February next year.  In the meantime, we expect housing market demand to be supported by low mortgage rates and high rates of population growth, despite the easing in capital growth rates that have been most evident in Sydney and, to a lesser extent, Melbourne dwellings. 
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jonathanchancellor-7SQnKwU6yx

RBA carries over same official cash rate into third year after February 2018 decision 

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In Victoria, the cost of constructing a house accelerated by 5% in 2017 according to the CoreLogic CHIP index December quarter results. According to the measure, this is now higher than the national pace of 4% across Australia, and the highest growth rate of all of the states for the year.
Several factors have contributed to this rapid increase in construction costs in the state. Namely, Victoria’s strong housing growth in the last few years which has delivered increased demand for housing construction materials and labour as developers seek to capitalise on high capital growth rates.
Along with increases in building input values and labour, CoreLogic development data indicates that 11.1% of residential subdivision commencements across Victoria were located in the state’s regional areas. Furthermore, 48.6% of residential subdivisions commenced on the fringes of the Melbourne metropolitan area and included Hume, Whittlesea and Wyndham. As a result, higher freight costs are likely to be built into the delivery of materials to regional sites.
Note: The CoreLogic CHIP index uses a standard house model over time to isolate changes in the cost of building materials and labour that go into constructing a house. CoreLogic tracks a separate index for Australia, New South Wales, Victoria, Queensland, South Australia and Western Australia. The National CHIP index rose 4% over 2017 and has diverged significantly from growth in CPI since around 2003. Since this time, inflation has averaged 0.62%, while quarterly nominal growth in the building price index has averaged 1.1%. Furthermore, as subdued wages have maintained a low inflationary environment in Australia, the gap between building costs and general living costs have increasingly diverged. Eliza Owen said, “This suggests that inflation accounts less and less for the growth in the CHIP index.”
CoreLogic’s construction and development data has been powered by the acquisition of Cordell in 2015. The CHIP index began in 1990. The Queensland CHIP index has grown the highest of the states since 1990, at 190%. Particular divergence occurred between Queensland and the rest of Australia from the time of the 2011 Queensland floods, when rebuilding accelerated building costs in the state, as well as inflation generally. Find the full CHIP index report for Q4 here.
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Eliza Owen is Commerical Property Research Analyst with ‎CoreLogic and can be contacted <a href="https://www.corelogic.com.au/" target="_blank">here</a>.
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House construction cost in Victoria rise five percent in 2017: Eliza Owen

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Brisbane is well placed to take over as the best performing capital city housing market over the next five years.  
Dwelling values across Australia’s third largest capital city have risen at the annual rate of 1.2% of the past decade; that’s half the pace of inflation and dramatically lower than Sydney or Melbourne where annual gains have averaged 6.3% and 5.9% over the past ten years.
Brisbane’s housing market won’t outperform other cities simply because the market has previously underperformed, however the relative gap in pricing between Australia’s largest cities is likely to be one of the factors that attracts housing demand to the city.  At the end of November 2017 Sydney house values were 102% higher than Brisbane’s and Melbourne values were 57% higher.  
Based on median household incomes, Sydney households are earning only 12.9% more than households in Brisbane’s and incomes across Melbourne are actually 0.7% lower than Brisbane’s.  
Clearly households aren’t as affected by affordability in Brisbane as significantly as they are in the larger capitals.  This is also visible from more formal affordability measures such as the dwelling price to income ratio and the proportion of household income required to service a mortgage. In Sydney, the dwelling price to income ratio is 9.1 compared with 7.5 in Melbourne and 5.9 in Brisbane.  Similarly, the proportion of gross annual household income required to service an 80% LVR mortgage is now 48.4% in Sydney compared with 39.9% in Melbourne and 31.7% in Brisbane.
Importantly, there are a variety of economic and demographic factors that are likely to support improving market conditions across Brisbane including economic and demographic trends as well as a worsening performance across the larger cities of Sydney and Melbourne which will provide a lower relative benchmark for Brisbane.
Population growth from both overseas and interstate is ramping up into Queensland, with the majority of this growth being experienced within the South East corner of the state.  Net overseas migration remains well below New South Wales and Victoria, however it’s the highest in a bit more than three years.  
Net interstate migration is where Queensland is demonstrating its pulling power, attracting the highest number of residents from other states in eight and a half years.  Net migrants crossing the state border into Queensland is now the highest of any state, outpacing Victoria for the first time since June 2013.
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<div class="field_highlight_text">Higher migration rates implies more demand for housing which should help to support an improvement in capital gains.</div>
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The labour market is also strengthening across Queensland.  Jobs growth across the state was the fastest of any state or territory.  Based on trend data, the annual rate of jobs growth reached 4.8% over the twelve months ending November 2017, substantially higher than any other region.  In raw numbers, 113,000 jobs were created across Queensland over the past year, more than New South Wales (111,000) and Victoria (94,000).
Jobs are an essential component of a healthy housing market and a strong labour force has been a key missing ingredient from the Brisbane housing market up until recently.  The improved jobs sector, together with high rates of migration and an affordable mix of housing is a solid recipe for stronger housing market conditions.  
Although Im expecting Brisbane to outperform, at least over the medium term, there are likely to be some headwinds that will prevent a surge in housing values.  Credit conditions are much tighter now relative to the period between 2012 and 2016 when Sydney and Melbourne experienced their peak rates of growth.  The unit market is also likely to hold back the performance of the housing somewhat due to unprecedented supply of new units over recent years.  
Additionally, while mortgage rates are likely to remain around their current historically low setting until around 2019, the cost of debt will eventually move higher which is likely to curb any momentum in the housing market when it eventuates. 
Although Brisbane looks primed to experience an improvement in housing market conditions over coming years, I wouldn’t necessarily expect that the rate of growth in Brisbane will reach the heights of those experienced in Sydney and Melbourne over recent years.
To read the <a href="https://www.corelogic.com.au/news/could-brisbane-take-over-best-performing-capital-city-housing-market-5-years#.Wnjl3JP1X-Z" target="_blank">original article click here.</a>
Tim Lawless is head of the CoreLogic research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.
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Can Brisbane become a top house price performer? 

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When investors are looking for good places to buy, consistency is a quality worth seeking. And the factor where consistency matters the most is in sales activity.
Some markets deliver steady levels of home sales, regardless of the booms or busts going on around them.
In each quarterly edition of The Price Predictor Index published by Hotspotting, we have spotlight the consistency markets – and we nominate a location as a nation’s most consistent market.
We have a strong focus on consistency markets because these are solid places for both home-buyers and investors.
The places we call the consistency markets sit in the middle of the spectrum, between the growth regions and the declining ones.
These are locations which record a consistent rate of sale, quarter after quarter, regardless of external events.  They represent safety for investors. 
And while they are often not boom markets, places with this high level of even performance usually produce solid price growth over time. 
They’re the housing market’s version of the “slow and steady wins the race” story.
In our new Summer edition of The Price Predictor Index, our award for the nation’s outstanding consistency market goes to Ulladulla in the Shoalhaven LGA in regional New South Wales.
It has sold between 43 and 58 homes in each of the past 13 quarters. Few locations in the country achieve that level of steadiness.
Ulladulla has a median house price of $510,000, after a 15 percent rise in the past 12 months.
To further illustrate the kind of growth that can happen in these steady performers, the winner in our Spring 2017 edition - Echuca in Victoria - had a 7 percent annual rise, while in the Winter 2017 edition our “most consistent market” - Sunbury  on the northern fringe of Melbourne - had a 10.4 percent annual increase. 
Generally in this report we look for locations where sales activity is rising, as these places are likely to deliver price growth. But the figures presented here for Ulladulla, Echuca and Sunbury show that steady market performers can achieve solid price growth as well.
As it’s not just short-term growth. Lalor Park in Sydney’s western suburbs, another noted consistency performer, has a long-term growth average (average annual growth in median house prices over 10 years) of 10 percent for year.
Greystanes in Sydney, which consistently sells 70-75 houses per quarter, averages 8.5 percent a year in median price growth.
Camp Hill, a suburb of Brisbane, has been averaging 7 percent per year.
Caroline Springs, a very steady sales market in western Melbourne, has averaged 7 percent per year. Frankston, which is both consistent and prolific in south-eastern Melbourne, has averaged 8 percent.
Some investors chase boom markets, seeking exponential short-term growth, and often end up with disappointing results.
There’s a lot to be said for the steady performers, which provide both safety and good long-term capital growth.
Very often, the tortoise out-performs the hare. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
<a href="https://twitter.com/hotspotting" target="_blank">twitter.com/hotspotting</a>
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terryryder-YECXbqmri2

Lalor Park price growth highlights importance of consistency for investors

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Houses in the NSW Central Coast, Coffs Harbour, NSW Mid North Coast, Newcastle and South East NSW are all currently at the peak of the market, according to valuation firm Herron Todd White.
They were the same five localities which were at the peak of the market in Herron Todd White's December property clock (bottom).
The clock hasn't changed too much since December, although Canberra's houses have now joined Sydney in the decline.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/6/Feb_House_Clock.jpg" target="_blank">to enlarge.</a>
<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/2018/2/6/Feb_House_Clock.jpg" alt="">
Melbourne, the Gold Coast and the Sunshine Coast are still approaching the peak of the market, while the likes of Perth and Darwin remain at the bottom of the market along with some regions in Queensland.
Houses in Brisbane, Adelaide and Hobart are still considered a rising market, however that's where Herron Todd White had Canberra at the end of last year.
Click here <a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWHousesDec.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWHousesDec.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/2017/12/5/HTWHousesDec.jpg" alt=""></a>
 
 
 
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jrobinson-rf4aSBido9

NSW coastlines at peak of market, while Sydney and Canberra start to decline: HTW property clock

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Happy Valley, SA home sold by mortgagee

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GUEST OBSERVER
The non-residential construction sector enjoyed better times in 2017, with more projects proceeding, a point that we have highlighted previously.
This lays the foundation for building work in the sector to advance solidly in 2018. The long duration of some projects can see work spread out over two to three years.
Approvals for non-residential building projects increased by 22% in 2017, to $46.8bn, a rise of $8.3bn on the previous year. That built upon an 11% increase in 2016, up by almost $4.0bn.
The lift in approvals in 2017 is the largest annual increase since 2007, post the GFC. While, the 35% lift for the two years from 2015 to 2017 is the strongest two year showing since the 2006 to 2008 period, but that is still well short of the 50% jump from 2004 to 2006.
The positive developments in the sector are underpinned by robust population growth and a lift in public investment. In short, the capital stock is expanding to meet the needs of a growing population, as well as to service rapid growth in both international tourism and foreign student numbers.
The non-residential building sector is diverse, spanning offices and retail in the commercial segment; factories and warehouses in industrial; and social buildings, including, health, education, accommodation (hotels, aged care, student apartments), and entertainment.
Building approvals in 2017 advanced across each of the broad segments, with public projects and offices punching well above their weight.
The $8.3bn increase in total building approvals in 2017 is comprised of: public works, +$2.3bn; offices, +$2.7bn; social buildings, $1.4b; industrial, $1.0bn and commercial ex offices, +$0.9bn. Together, public and office projects accounted for 60% of the increase in approvals in 2017.
Office approvals have rebounded from the lows of 2015 to be in line with the highs of 2013. This profile, against the current economic backdrop, points to the likelihood that office approvals will retrace somewhat over 2018 and 2019.
The major non-mining states on the east coast, Victoria and NSW are enjoying sustained strong population growth, with the global cities of Melbourne and Sydney key growth engines. No surprise then that the rise in building approvals is centred in these two states.
Victoria and NSW together account for 86% of the increase in building approvals in 2017 and 80% of the increase over the past two years.
In the mining states, private building approvals moved higher in 2017, Qld +5% and WA +21%, although in WA a decline in public works is a headwind. 
Private non-residential building activity is forecast to expand by 7% in 2017, a turnaround from a 9% fall in 2016, followed by an 8% lift in 2018 and moderate gains in 2019 and 2020.
Andrew Hanlan is a research analyst at Westpac.
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Non-residential construction set to advance in 2018: Westpac's Andrew Hanlan

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GUEST OBSERVER
Only in a few active travel strongholds, typically in the inner city, do Australian cycling and walking rates get close to those in Europe. 
Australian city planners are seeking ways to make cities better for walking and cycling.
Walkability and cyclability are attractive and “green” urban amenities. They reduce pollution and improve health. They are also economic assets.
In developing countries, active transport is key to improving accessibility for the urban poor. In developed countries, the walkable and cyclable city can be a magnet for attracting and retaining the “creative class”.
In Australia, plans and projects are being developed to extend pedestrian malls and cycling paths, restrict car traffic, remove street parking and install more lighting.
Have these efforts paid off?
Yes and no. Recently released 2016 Census data reveal some disappointing commuting patterns in Australian cities.
Across metropolitan areas, typically plagued by sprawl and segregated land uses, cars still dominate. Car-based commuting rates have decreased by only 1-2%.
Public transport use remains relatively low. Even in Sydney, it captures only about one-quarter of commute trips.
Since 2011, Sydney, Melbourne and Darwin have made modest gains (2-4%) in public transport use. Brisbane has had an incremental decline. Public transport use is stagnant in Perth, Adelaide, Hobart and Canberra.
<img src="https://images.theconversation.com/files/203650/original/file-20180128-100893-12cw2vf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Meanwhile, rates of walking and cycling remain constant and low – even in smaller centres such as Hobart, Darwin and Canberra. Even in the most “cycling-oriented” places (Darwin and Canberra), only about 3% of commuters cycle.
<img src="https://images.theconversation.com/files/203651/original/file-20180128-100929-e5r516.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
City-level data tell a different story. Here, walking is more popular than at the wider metro level. This reflects the mono-centric nature of Australian cities, where most jobs are located in the CBD.
In larger cities, between a quarter and a third of the population walks to work. Similar proportions of commuters use public transport. Brisbane is an exception, with less walking, lower public transport use and much more driving than Sydney, Melbourne or Perth. Hobart and Darwin have low walking rates and are very car-dependent, which is surprising considering their small size.
<img src="https://images.theconversation.com/files/203733/original/file-20180129-100899-4wj80w.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Average cycling rates are low everywhere – only 2-5%. This is true in both large and small cities, tropical (Queensland and Northern Territory) and oceanic (southeastern Australia) climates, flat and hilly topographies.
However, averages are deceptive. In Melbourne’s “top cycling suburbs” (Fitzroy North and Carlton North/Princes Hill) cycling rates are as high as 15%. Similarly, in Brisbane’s “top cycling suburbs” (West End and Highgate Hill), about 8% of people cycle to work. Sydney’s cycling rates are only 5% even in its “top cycling suburbs” (Erskineville/Alexandria and Newtown/Camperdown/Darlington).
<img src="https://images.theconversation.com/files/203734/original/file-20180129-100905-1433pkw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
To compare, cities in Northern and Western Europe have average active transport rates at least twice as high as those in Australia. Over half of Copenhagen’s commute trips are via cycling or walking.
However, while Australian cities as a whole fall much behind international best practice, some suburbs are comparable. In Brisbane, Sydney and Melbourne, the “top active-travel suburbs” – the CBDs and their immediate surroundings – have walking and cycling rates in the 40-50% range.
Overall, improvements in walking and cycling rates have been minimal since the 2011 Census. For most cities, this undermines urban prestige and competitiveness – not to mention the health and environmental implications. Conversely, Melbourne’s higher active travel rates might provide part of the explanation for it topping “most liveable city” lists.
Why isn’t Australia an active travel mecca?
In theory, Australian cities are ideal for walking and cycling. They have mild climates, stable and wealthy governments, as well as sporty, outdoorsy and increasingly health-conscious residents. Despite this, the data show that overall active travel (especially cycling) is still marginal.
<img src="https://images.theconversation.com/files/203617/original/file-20180127-100929-8c2duh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Barriers to active travel, grouped into ‘ideas’, ‘interests’ and ‘institutions’ – a popular theoretical framework in public policy studies. Pojani &amp; Stead, 2014, Author provided
Academic research has unequivocally demonstrated that substantive changes can occur only through a combination of high-quality infrastructure, pricing policies and education programs. In Australia, as elsewhere, myriad barriers conspire against such an integrated approach.
What needs to be done?
Three main areas require intervention.
<ul>
<li>
Ideas: Active travel must become normalised as an integral part of transport planning. Footpaths, crosswalks and bicycle lanes must be standard elements of street templates and guidelines, just like telephone lines and fire hydrants.</li>
<li>
Interest: Councils must secure strong political support for walking and cycling, as well as unity and collaboration within the active travel community. Solid evidence is needed on the benefits of high-quality walking and cycling environments and on the impacts on businesses and households of removing traffic and parking lanes to accommodate footpaths, bike paths and pedestrian malls.</li>
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Persistence and consistency in messages to the public, and a non-antagonistic stance, are also important. To embrace active travel, people must feel positive about creating a more just, fun, safe and healthy world through their informed travel choices.
<ul>
<li>
Institutions: More government funding for active transport – independent of political cycles – must be provided, while at the same time allowing more local planning autonomy. The most recent United Nations’ recommendation is that 20% of transport funding go to non-motorised modes.</li>
</ul>
Australia falls short of this target, but finding out exactly how far off is a challenge. The Australian government makes no mention of active travel in its 2017-2018 infrastructure budget allocation. Each local and state government reports on it differently.
<img src="https://counter.theconversation.com/content/87331/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In 2016, the combined state and territory investments in cycling infrastructure totalled only A$121.8 million. That’s a small fraction of road funding (A$20.2 billion in 2011-12). Data on walking infrastructure spending are unavailable.
Dorina Pojani, Senior Lecturer in Urban Planning, The University of Queensland
Elizabeth Butterworth,The University of Queensland
Jim Cooper, Senior Research Fellow, School of Earth and Environmental Sciences, The University of Queensland
Jonathan Corcoran, Professor, School of Earth and Environmental Sciences, The University of Queensland
Neil Sipe, Professor of Urban and Regional Planning, The University of Queensland
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/australian-cities-are-far-from-being-meccas-for-walking-and-cycling-87331" target="_blank">original article</a>.
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