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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Fresh summer stock is down in Sydney, but late 2017 left overs remain at an elevated level.
There are 17,000 plus houses and units for sale across Sydney, up 31 percent one the same time last January.
There is a 40 percent drop in the number of Hobart listings, in the nation's hottest property market.
The Sydney housing market deterioration now also shows up in the median number of days on market for houses and apartments.
It has risen to between 45 to 47 days, albeit at the slowest time of year.
At the same time last year, houses were taking 35 days to sell, while units sold in 41 days.
<div class="related-quotes section">At the peak of the market in the recent five year boom, median days on market for houses was as low as 25 days in 2015 and 23 days for units in 2014.</div>
<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/2018/1/15/cap%20city%20for%20sale.jpg" alt="">
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jrobinson-rf4aSBido9

Sydney fresh stock down, but up on this time last year: CoreLogic

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With “schoolies” celebrations now over and New Year’s, spare a thought for the challenges faced by children and young people growing up in popular tourism hot spots.
Let’s take the beautiful northern New South Wales coastal town of Byron Bay as an example. At the end of each year, young school leavers flood Byron Bay in pursuit of a rite of passage experience that many of their parents would prefer not to know about.
But there is another story here that is often overlooked. How do young residents of these places negotiate the challenges of growing up in a community widely acclaimed as a “party” destination? And how do the very public narratives portrayed in the media shape the experiences of young people growing up in a place like Byron Bay?
My recent <a href="https://epubs.scu.edu.au/theses/542/" target="_blank">doctoral research</a>, in which I interviewed 74 young people in Byron shire aged between 10 and 24, sheds light on young residents’ views and experiences.
It is estimated that an annual average of 1.7 million tourists <a href="https://www.tra.gov.au/research/regional-tourism/local-government-area-profiles/local-government-area-profiles" target="_blank">visit Byron Shire</a>, with 704,000 being domestic overnight visitors. While the party reputation of Byron Bay and its popularity with young backpackers and schoolies is now a given, there is little consideration about the impact of this on <a href="http://www.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/LGA11350?opendocument" target="_blank">the 2800</a> young people who <a href="https://www.researchgate.net/publication/317281509_Growing_up_in_a_tourist_destination_negotiating_space_identity_and_belonging" target="_blank">live there</a>. Some of the issues and concerns raised in this research include safety, belonging and the environment.
<h2>Safety</h2>
The biggest concern raised by young residents is the perceived lack of safety that they often feel at times like schoolies and New Year’s Eve. The “demonstration effect” of alcohol and drug consumption, which is sensationalised in <a href="https://www.dailytelegraph.com.au/news/nsw/schoolies-2017-hits-byron-bay-and-prompts-enormous-police-presence/news-story/672d3ea70d68bb0c357cd42de60fd7ff" target="_blank">the media</a>, has widespread implications.
Children and young people growing up in these communities are witnessing a holiday lifestyle on a regular basis, including the party frenzy and alcohol and drug-fuelled behaviours that are on display at times like schoolies.
This is confusing: they see people having fun all the time, but don’t consider that these same tourists go home to a seemingly normal life after the holiday. This may have important implications for their wellbeing in the long term, particularly when they are drawn to join the celebrations.
Isabella, 15, said:
<blockquote>
I don’t feel safe due to intoxicated people. I know that because of the reputation that it’s a party town, I’m not allowed to come to Byron at night, which I don’t want to because there are just too many people that are passing through.
</blockquote>
<h2>Belonging</h2>
The other concern raised by young people in Byron Shire is the shrinking sense of community as more and more places become overcrowded and commercialised. Young people’s sense of belonging is challenged at peak tourist times, when crowded spaces and unfamiliar faces contribute to feelings of alienation and displacement.
Many also worry about their future. Tammy, 24, said:
<blockquote>
It kind of scares me because it means that people can’t live here anymore as they can’t afford the rent and things like that! I suppose that’s just tourism, that’s how it works, it’s for the privileged.
</blockquote>
The rise of holiday-letting and AirBnb have also led to a lack of affordable housing in the area. As more and more families are forced <a href="https://www.echo.net.au/2017/06/holiday-letting-byron-councils-sights/" target="_blank">to move out of the region</a>, the social structure of the communities in the Byron Shire region is changing.
For young people still living in the area, usual neighbours are replaced by a continuous flow of visitors who book through platforms such as AirBnb. This only adds to feelings of anxiety and alienation.
<h2>The environment</h2>
Children and young people growing up in the region are also acutely aware of the impacts of tourism activity on the environment. Young people are concerned about the visible effects of tourism and the lack of respect that travellers, and in particular young school leavers, have for the environment.
Littering on the beaches, streets and parks in Byron Bay is a common problem at peak party times.
Young residents argue that these behaviours are frustrating. They actively take up stewardship of the natural environments in the community by participating in beach clean-ups and awareness campaigns to educate the visiting tourists. As 21-year-old Jack said:
<blockquote>
It’s disappointing to see people come to supposed paradise, the place where they’re expecting to be clean and beautiful and pristine, then they leave it in such a state. It’s just disrespectful.
</blockquote>
<img src="https://counter.theconversation.com/content/88315/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Like other areas such as the Gold Coast, Byron Bay is a popular destination with young school leavers who consider it their “party town”. But let’s not forget that it is also the home of many young locals. More education and awareness is needed about these important issues which significantly shape young people’s lives.
<a href="https://theconversation.com/profiles/antonia-canosa-426625" target="_blank">Antonia Canosa</a>, Research Associate, Centre for Children and Young People, <a href="http://theconversation.com/institutions/southern-cross-university-1160" target="_blank">Southern Cross University</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/your-party-our-home-the-challenges-of-growing-up-in-a-tourist-destination-88315" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Our home, your party: the challenges of growing up in a tourist destination

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Hobart continues to take the baton from Sydney and also Melbourne as the nation's hottest housing market. 
The Sydney median unit rental price has dropped back from its peak, falling back below median house rental prices for the first time in six months.
House rental prices in Melbourne were up 1.2 per cent over the quarter, hitting a new high.
But Hobart has had the  strongest annual growth in house rental prices on record, surging 12.9 per cent.
Both unit and house rental prices rise in Canberra and Hobart. House rental prices remain steady over the quarter in Sydney, Brisbane and Perth.
Canberra, Darwin, and Hobart deliver strongest unit yields for investors.
Brisbane, Darwin, Hobart deliver strongest house yields for investors.
Domain December Rental Report <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/c061336a-9e53-4b7b-92b0-d1702698537a.png" width="600" height="597">  
Rental prices for the December quarter demonstrated that Australia’s capital city markets are operating on different property cycles, as Sydney unit rental prices ease slightly, while Canberra and Hobart markets continue to grow, according to Domain’s quarterly Rental Report.
"Prices in Australia's rental market are mixed, with varying levels of population growth, residential construction and investor activity producing different market conditions across the nation's capital cities.
“There were diverse changes in median rental prices across the capital cities over the quarter. While many markets held steady, there were also capitals with a growth in median asking rental prices. Canberra and Hobart, two cities at opposite ends of the affordability spectrum, saw the greatest price growth. Even though there’s a distinct gap in their median rental prices, it’s clear that tenants in both cities are facing a competitive rental market,” said Domain Data Scientist, Dr Nicola Powell. 
Rental yields
For investors, Hobart continues to provide the best gross rental yields for houses with 5.34 per cent recorded over the December quarter. Sydney and Melbourne continue to record the lowest gross rental yields for houses of all capital cities, sitting at 3.08 per cent and 3.20 per cent respectively.
Canberra is the top performer for gross unit rental yields, recording a result of 5.80 per cent over the quarter, closely followed by Darwin at 5.67 per cent and Hobart at 5.52 per cent.  
Capital city markets  
Sydney
Median weekly rental prices for units in Sydney’s competitive rental market decreased over the quarter, with median rental prices falling 0.9 per cent to $545 per week. The $5 drop makes unit rental prices lower than house rental prices for the first time in two quarters. Despite the quarterly decline, median unit rental prices are 4.8 per cent higher than the same time last year.
Median house rental prices remained steady over the quarter at $550 per week. House rental prices have seen no price movement for three quarters and have grown only 1.9 per cent year-on-year.
“If investor activity continues to decline in Sydney it could tighten the rental market in 2018. However, the value of building completions is reaching a high, providing a boost to unit rental stock.
“The trend is likely to continue over the coming months, as stock from off-the-plan sales comes onto the market. This could provide tenants with a greater choice in certain pockets of Sydney,” said Domain Data Scientist, Dr Nicola Powell.  
Melbourne
Median weekly house rental prices gained 1.2 per cent over the December quarter and 3.7 per cent year on year, to a new record high of $425 per week.
Median unit rental prices in Melbourne have increased 5.3 per cent annually to $400 per week, and remained steady over the quarter. A difference of $25 now exists between house and unit rental prices, with price gains growing more rapidly for unit rental prices than house rental prices. If this rate continues, prices may eventually be on par, mirroring the trend previously seen in Sydney.
“As the impact of tighter investor lending continues to unfold it is likely to drive competition for available rental stock. The capital’s soaring population, spiked by all three population drivers (natural increase, overseas and interstate migration) and less available rental stock will put additional pressure on rental prices,” said Domain Data Scientist, Dr Nicola Powell.  
Brisbane
Brisbane house rental prices remained stable at $400 per week over the December quarter. It was the only capital city market with no change to house rental prices both over the quarter and over the last 12 months.
Median unit rental prices decreased 1.3 per cent over the year, however prices held steady over the quarter at $370 per week.
“It has been roughly half a decade since investors in Brisbane saw a significant growth in rental prices. Prices in the capital have continued to be impacted by high levels of unit development giving landlords little ground to raise rental prices,” said Domain Data Scientist, Dr Nicola Powell.  
Adelaide
Adelaide’s median house rental prices grew 2.8 per cent over the December quarter and the year, reaching $370 per week. The quarterly growth was the first gain for Adelaide house rental prices following three quarters of prices holding steady.
Median unit rental prices in Adelaide remained flat over the December quarter, at $295 per week. Adelaide is the most affordable rental market of all the capital cities, despite a 1.7 per cent gain year-on-year.
“Adelaide continues as a relatively steady market, with units delivering stable returns for investors in the market. Available house stock has now tightened for three consecutive quarters providing a short term pressure and growth in median rental prices,” said Domain Data Scientist, Dr Nicola Powell.
 
Perth
Median house rental prices in Perth held steady this quarter at $350 per week. The median rental price fell 5.4 per cent over the year, but the rate of decline is now easing.
Median unit rental prices were also stable over the December quarter, at $300 per week. The median has now held flat for four consecutive quarters, which is the longest period of quarterly stability in Perth’s rental price history (recorded since 2004).
“Perth continues to be one of the nation’s most affordable rental markets and was the only capital city with an annual decline in house rental prices.
“While falling rental prices have become the norm over recent years, the rental market has begun to show signs of transitioning conditions, with hefty declines in rental prices no longer being recorded in Perth’s unit market. Investors in the capital have also seen an annual growth in rental yields for houses,” said Domain Data Scientist, Dr Nicola Powell.  
Canberra
House rental prices in Canberra increased 5.9 per cent over the quarter to reach a new record of $540 per week. Prices are 8.0 per cent higher than this time last year, making the nation’s capital the second strongest market for house rental prices growth.
Canberra was one of the two capital cities with growth in median unit rental prices over both the quarter and year, up 2.4 per cent to $430.
“The healthy quarterly gain in Canberra has helped to push up gross rental yields for units to 5.80 per cent, the highest yielding output of all the capital cities.
“Affordability remains a key issue for Canberra tenants. It is the third most expensive capital city for house rental prices and second for units. If stricter investor lending hits rental stock in the year ahead, it could lead to a further growth of rental prices in an already expensive market,” said Domain Data Scientist, Dr Nicola Powell.  
Hobart
Over the December quarter, Hobart median house rental prices had the highest rate of growth on record for the city. House rental prices increased 6.8 per cent over the quarter and 12.9 per cent year-on-year to $395 per week. This is an astounding $45 increase compared to the same time last year.
Hobart was the only capital city to reach double-digit annual growth in house and unit rental prices. Median unit rental prices grew 6.3 per cent over the quarter and a whopping 13.3 per cent annually, to $340 per week.
“Hobart currently has strong levels of migration and not enough rental supply to keep pace. Investors are reaping the highest gross rental yields for houses out of all the capital cities at 5.34 per cent and the third best for units at 5.52 per cent, falling just behind Canberra and Darwin,” said Domain Data Scientist, Dr Nicola Powell.  
Darwin
Darwin’s rental market had a strong quarter of growth in house rental prices, with an increase of 5.8 per cent, setting median weekly rental prices at $550. This growth makes Darwin, alongside Sydney, the most expensive city in which to rent a house in Australia.
Median unit rental prices grew 3.8 per cent over the quarter to $415, with units in Darwin producing the second highest rental yields of all the capital cities at 5.67 per cent.  Overall, unit rental prices for the capital city have fallen, decreasing 5.7 per cent over the year.
“Economic health, investment and population fluctuations have a large impact on the Darwin rental market. This quarter, house rental prices had the strongest growth rate in five years. Units continue to provide high yielding outputs for investors and in the year ahead, it’s likely we will see unit supply levels continue to affect unit values and gross yields,“ said Domain Data Scientist, Dr Nicola Powell.
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jonathanchancellor-7SQnKwU6yx

Sydney median unit rental prices drop below median for houses: Domain rental report

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Australian housing finance approvals beat expectations again in November, the number of approvals for owner occupiers up 2.1% vs expectations of a flat result. Approvals ex refi rose 2.4%mth to be up 9.2%yr.
The value of housing finance approvals to investors also posted a rise, up 1.5% but is down –8.3%yr.
The Nov detail showed continued strength in first home buyer loans (+4.5%mth, 36%yr) concentrated in NSW and Vic where state government stamp duty concessions are giving a big boost and activity is coming from a very low starting point.
Construction-related approvals were up 2%mth, 7.6%yr.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/18/FINANCE.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/2018/1/18/FINANCE.jpg" alt="">
By state, gains in NSW (+1.9%mth), Qld (+4.3%mth) and SA (+2.1%mth) offset falls in Vic (–0.3%mth) and WA (–2.7%mth). Annual growth remains strongest in Vic (+16.8%) and NSW (+10.9%) bearing in mind that this is owner occupier approvals only (ex refi) and that the slowdown in investor activity has had a more material impact in these two states, NSW in particular.
Overall, the total value of finance approvals ex owner occupier refi was up 2.1%mth, and 1.7%yr. That compares to turnover, down around 16%yr, auction clearance rates, down over 13ppts, and an abrupt slowdown in price growth, down from a double digit pace mid-year to a sub-5% annual pace currently.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/18/SEGMENT.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/2018/1/18/SEGMENT.jpg" alt="">
While the pull back in investor finance approvals is broadly consistent with macro-prudential tightening measures impacting this segment, the continued strength in owner-occupier activity has been surprising, particularly given material slowdown in wider housing market activity evident in other measures. Overall, the total value of loan approvals including investor loans and ex refi has firmed over the last year, up 1.7%yr.
The comparison with the previous macro-prudential tightening episode in 2015 is also intriguing. This resulted in a similar slowdown in wider market measures and a sizeable 10%+ decline in the total value of finance approvals.
The differences are puzzling but may be an indication that weaker foreign buyer demand – evident in the wider housing market performance but not captured by finance approvals – may have had a greater hand in the 2017 slowdown.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Housing's puzzling strength: Matthew Hassan

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Darwin property owners seeking a sale in the first quarter of 2018 should recognise the city’s housing values have bottomed, according to leading real estate group, Raine &amp; Horne. 
“Investment firm AMP Capital l<a name="x__ednref1" href="x-webdoc://DC3B27C2-F28F-4666-9E47-11992185BC89#x__edn1" title=""></a>ast week indicated that the Darwin real estate market has bottomed, which means that local owners should feel less pressure to take the first offer from a buyer,” said Glenn Grantham, general manager at Raine &amp; Horne Darwin.
“The Darwin property market in fact reached the bottom of the price cycle a few months ago, yet there still seems to be many owners believing they must take the first offer that comes their way.”
The failure by owners to recognise that prices have bottomed can be as costly as paying too much at the top of the market cycle, advised Grantham.
“We have heard of instances where some owners at the end of 2017 were accepting auction bids that were considerably lower than the going market rate.
“With the Darwin property market now at the bottom of the cycle, it’s critical that owners work with real estate agents, such as Raine &amp; Horne, who will put their interests first, and secure them the best price possible.”
Markets such as apartments in central Darwin and houses in Palmerston are set to be major buying hotspots in 2018.
“If you recognise that Darwin has reached the bottom of the price cycle, then you need to look at the sub-markets where prices have been most affected,” said Mr Grantham.
“In this regard, it’s hard to go past apartments in the centre of Darwin and houses in Palmerston.”
<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/2018/1/17/darwin3.jpg" alt="">
The median 3-bedroom house price in Palmerston is $300,000 and mid-$400,00s for a four-bedroom house, according to Raine &amp; Horne Darwin.
“Inner city, two-bedroom apartments start from around $300,000, and this is the market where we’re seeing more investor activity,” said Mr Grantham.
The wet season which extends to April coincides with an influx of interstate workers moving to Darwin for government and defence work.
“Many of the transient workers buy a Darwin property to live in, before transitioning it to the rental market when they leave,” noted Mr Grantham
“Almost 90% of investors are from interstate who move to Darwin for short to medium periods and recognise its property market offers the prospect of immediate price affordability and long-term growth. 
“Workers from interstate often purchase Darwin properties with an understanding that when they leave, they’ll keep it as an investment asset that can produce growth and income yields significantly higher than the southern capitals.”
Raine &amp; Horne Darwin has 66 properties on their books.
Their priciest is an apartment in the <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-119146115" target="_blank">Evolution on Gardiner</a> building in the city which has views of the water (top and above).
Agents Glen Grantham and Dan Campbell are asking for $985,000 for the three bedroom, two bathroom apartment.
<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/2018/1/17/darwin2.jpg" alt="">
Grantham and Campbell are also marketing an off the plan townhouse in the <a href="https://www.realestate.com.au/property-townhouse-nt-the+gardens-123840718" target="_blank">Terrace Gardens project</a> (above).
The three bedroom, two bathroom townhouse is priced at $825,000.
There has only been one Darwin sale by the Raine &amp; Horne Darwin team this year. That was an <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-120654785" target="_blank">apartment in the Marrakai complex</a> (below) which sold for $350,000.
<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/2018/1/17/marrakai.jpg" alt="">
The ninth level apartment with two bedrooms and two bathrooms last traded for $245,000 in 2000 and had been on the market for over two years.
It initially sought a price between $520,000 and $550,000.
A unit Raine &amp; Horne sold in Cullen Bay went back in price late last year when it sold for $485,000.
The two bedroom apartment overlooking Cullen Bay Marina last sold for $620,000 in 2008, and even $500,000 in 2007, still above its price today 10 years later.
 
 
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Darwin housing values have bottomed

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<div>Another data series suggesting that 30-60 day arrears are now very close to the lowest level on record.</div>
<div> </div>
<div>First it was <a href="http://petewargent.blogspot.co.uk/2017/12/arrears-down-again" target="_blank">S&amp;P Global</a> that reported as such, as I charted at the attached link. </div>
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<div>And this time, it's Moody's.</div>
 
<div class="separator"><a href="https://2.bp.blogspot.com/-zDA0uid4qrw/WlxunAW2WVI/AAAAAAAAn7o/nNM0owABILQ81EpoWGwXoqVbINf1otG0wCLcBGAs/s1600/Moody%2527s.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-zDA0uid4qrw/WlxunAW2WVI/AAAAAAAAn7o/nNM0owABILQ81EpoWGwXoqVbINf1otG0wCLcBGAs/s640/Moody%2527s.jpg" width="640" height="310" data-original-height="667" data-original-width="1375"></a></div>
Source: Moody's
<div>Total 90+ day Prime RMBS arrears declined from 1.62 per cent to 1.54 per cent in the September quarter, according to Moody's Investor Service. The main improvement was seen in shadow lenders, with delinquencies declining from 2.85 per cent to 2.59 per cent, which there was also a solid decline in non-confirming loan arrears to 3.3 per cent. Elsewhere it was reported that loan impairment charges were also close to record lows in 2017. </div>
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<div>Good to see. </div>
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Mortgage arrears down again, including shadow lenders: Pete Wargent

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<div>As usual vacancy rates were higher in the month of December at 2.5 per cent or 80,092 vacancies.</div>
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<div>Despite the record high level of building, vacancies were considerably lower than a year earlier, when there were 89,721 vacancies according to SQM Research figures. The year-on-year decrease reflects a combination of strong population growth and a very high volume of higher-density apartments still under construction, there being a lag in the completion of this dwelling type. </div>
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<div>Hobart has a record low vacancy rate for any capital city of an extremely tight 0.3 per cent, while Canberra (1.3 per cent) and Adelaide (1.5 per cent) remain tight rental markets. </div>
<div> </div>
<div>Asking rents have increased strongly in Hobart and Canberra accordingly over 2017. </div>
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<div>Perth and Darwin also seem to have turned a corner, with vacancy rates well down from a year earlier, while Melbourne's 2.1 per cent vacancy rate was also well down from 2.4 per cent in December 2016.</div>
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<div>This downtrend wasn't the case everywhere however, with Sydney recording a multi-year high reading of 2.6 per cent in December, up from 2.3 per cent last year. </div>
<div> </div>
<div>The numbers can jag around a bit, but smoothing the figures on a 6mMA basis gives a sense of the relative condition of the rental market in each city and the prevailing trends. </div>
 <div class="separator"><a href="https://3.bp.blogspot.com/-Piajs6T7H5I/Wl4_t1_nSNI/AAAAAAAAn8U/fmBZ8lYfqc4ko5vIMpvkfWOC5PMiqLASwCLcBGAs/s1600/SQM1.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-Piajs6T7H5I/Wl4_t1_nSNI/AAAAAAAAn8U/fmBZ8lYfqc4ko5vIMpvkfWOC5PMiqLASwCLcBGAs/s640/SQM1.jpg" width="640" height="376" data-original-height="818" data-original-width="1385"></a></div>
 <div>At the end of the 2017 financial year, New South Wales had a record 64,470 attached dwellings under construction, with the overdue flood of completions doubtless accounting for the jump in December. </div>
<div> </div>
<div>Population growth in Sydney nevertheless remains strong, so it will be interesting to see how the market fares in 2018.</div>
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<div>On that note, the latest building activity figures are due out today, and these will shed further light on completions and the pipeline remaining under construction. </div>
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<div class="separator"><a href="https://3.bp.blogspot.com/-UvrQILlqT8k/Wl5CUZV9A5I/AAAAAAAAn8g/urEYDDEt-ugkqXs6HFmF2TIgKJ5GRZfQQCLcBGAs/s1600/sydney-opera-house-354376_1920.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-UvrQILlqT8k/Wl5CUZV9A5I/AAAAAAAAn8g/urEYDDEt-ugkqXs6HFmF2TIgKJ5GRZfQQCLcBGAs/s640/sydney-opera-house-354376_1920.jpg" width="640" height="426" data-original-height="1068" data-original-width="1600"></a></div>
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<div class="post-footer"> PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
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Rental vacancies down in 2017; but not everywhere: Pete Wargent

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A nation like Australia should be able to have a sensible, rational, balanced debate on issues like housing affordability – but it seems we cannot because we have the media from hell. 
Mainstream media has been having a feeding frenzy recently over two documents about negative gearing and its impact on affordability – one a leaked report from Federal Treasury and the other a half-finished research paper by Melbourne University economists. 
Both apparently claim that scrapping negative gearing tax benefits would have only a minor impact on home values but at the same time would bring about a major improvement in housing affordability. 
There’s been lots of commentary on the significance of these documents, especially with regard to Federal Government policy, but I have not seen any media reports from writers who have challenged the documents. 
Their findings, apparently, are deemed to be factual and beyond scrutiny. 
The worst contribution to this endless and seemingly fruitless debate about affordability, its causes and its solutions, has come from the Melbourne University research paper. 
My first question about this is: why would the authors publish research that is not yet finished? It is, according to the authors, “preliminary and incomplete”. One of them says that when the research modelling is complete, the results may change, particularly the forecast size of the lift in home ownership. 
Given the sad record of this discussion being blighted by claims, counter-claims, pet theories and silver bullet solutions, why would academics who want to be taken seriously publish something that just adds to the quagmire of confusion because it’s still a work in progress. 
This paper makes some pretty big claims. Three-quarters of households would be better off, home ownership would surge and rents would rise but renters would be somehow better off. 
These are big statements. But they’re not justified or substantiated in any of the reports I’ve read. 
To try to understand why the authors think the suggested policy changes would have the big impacts they claim, I studied reports from six sources, including The Australian, the Financial Review, The Age and The Guardian. 
I’m still waiting for an explanation of the claimed outcomes. And I’m still waiting to come across a journalist who challenged the authors of the report on a number of matters, including their credentials, their motivations, their methodology and their assumptions. 
I’d love to see the mathematics that’s led them to their preliminary and incomplete conclusions. 
Here’s a core question they should be asked: how can you claim that the suggested policy would cause a 30% reduction in rental property supply, and therefore an increase in rents, but also claim that renters everywhere would be better off? 
From my study of media reports, it seems the authors are assuming that a 30% reduction in supply would cause a rental rise of only 2.4 percent – and that the Federal Government would financially compensate tenants for the higher rents that would result. 
Those are massive assumptions. No one in Australian media has challenged them. 
If they’re wrong and there’s no government compensation for higher rents, which would cost billions of dollars according to the report, tenants will be disadvantaged by having higher weekly occupancy costs, which would make it harder to save a deposit to get into home ownership. 
That whole argument falls apart if a future government offers no compensation. 
And keep in mind that other research tells us that last year, without any taxation policy changes to limit the supply of rental properties, house rents rose 7 percent in Canberra, 9 percent in Hobart and 5 percent in Melbourne. 
But, according to the Melbourne University boffins, eliminating one-third of the supply of rental properties would cause rents to change barely at all. 
It’s worth remembering that significantly higher rents resulted when a Labor Government scrapped negative gearing in the 1980s and then had to re-instate it a short time later because of the unforeseen adverse impacts. 
The university paper claims that property values would fall only 1.2 percent but somehow this insignificant decline in house prices would generate a massive rise in home ownership – from 66.7 percent to 72.2 percent. 
How have they come up with these very precise but unexplained estimates? 
They claim 30 percent of rental properties would be freed up and bought by Australians who would otherwise have rented. So we’re asked to accept that a 1.2% drop in prices would turn those who can’t afford to buy into people who now can do so. 
That’s another massive assumption that no one has challenged. 
Think about it. The Asking Price Index for Sydney houses sits at $1,356,500, according to SQM Research. A 1.2 percent reduction in prices would bring that down to $1,340,222. Apparently $1.356 million is unaffordable but $1.34 million is affordable to heaps of people. 
But those are Sydney prices. Let’s look at a city that’s a little less extreme, like Brisbane. The Asking Price Index for the Queensland capital sits around $614,000 and a 1.2 percent reduction would bring it down to about $607,000. 
The report authors want us to believe that this small change will cause a “surge” in home ownership rates in Brisbane. 
In a parallel universe, maybe, but not in the real world. 
There are other aspects of this paper that ought to be challenged – and would be if journalism played a part in the reporting of the housing industry. 
The claim that only the “rich” benefit from negative gearing is outrageous - and patently false, according to ATO data. 
There’s no explanation in any report I’ve read for the claim that 76 percent of households would be better off under the suggested policy change. We’re told only that the authors used “an economic model”. 
Surely Australia as a nation can do better than this. But while we’re saddled with such mediocre media and clueless politicians, we’re doomed to having this festering issue drone on for years to come. 
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au 
twitter.com/hotspotting
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terryryder-YECXbqmri2

Melbourne University negative gearing study needs to be challenged over its methodology and assumptions: Terry Ryder

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Adelaide has overtaken Sydney as the mainland capital with the second strongest growth in property values.
Sydney house values are down 0.2 percent in the quiet first two weeks of the new year, Corelogic data shows.
There was no movement for the other major markets, Melbourne, Brisbane and Adelaide in the year to date.<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/2018/1/15/VALUE%20CHANGES.jpg" alt="">
Perth was also down 0.2 percent.
Sydney's annualised growth sits at 2.5 percent.
 The last time Sydney posted such a low level of growth was at the start of the boom in mid-2012.
There was a 70.8 per cent rise since 2012, Corelogic says.
Adelaide's annualised growth sits at 2.7 percent.
Melbourne is still the market leader.
In December Sydney house prices fell 0.5 percent.
The start of the year is always quiet, but last January (below) saw Sydney prices sitting at an annualised 15.6 percent growth, with 0.7 percent growth just in January, according to CoreLogic.
 <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/2018/1/16/value.jpg" alt="">
 
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Sydney's price decline continues into 2018

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APRA have finalised the rules governing the data that banks must hand over on their residential mortgage-lending operations.
They have been warning the banks of heightened risks and has been urging the banks to monitor the lending more closely, especially with the much publicised liar loans still sneaking through the cracks. 
On 24 October 2016 APRA released proposed revisions to the residential mortgage lending reporting requirements for authorised deposit-taking institutions (ADIs), Reporting Standard ARS 223.0 Residential Mortgage Lending (ARS 223.0) and accompanying reporting guidance.
On 23 May 2017, APRA released a revised ARS 223.0, which responded to submissions received and proposed a small number of additional data items. APRA sought feedback on these additional data items.
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APRA received six submissions from ADIs and industry associations in response to the May 2017 proposals. No submissions objected to the proposals, but changes and clarifications were suggested. 
APRA has made minor clarifications to reporting requirements and amended the reporting guidance as a result of these comments (see attached). 
Today APRA released the final ARS 223.0. Reporting will commence: 
<ul>
<li>for ADIs that currently report on Reporting Form ARF 320.8 Housing Loan Reconciliation (ARF 320.8), from the reporting period ending 31 March 2018; and</li>
<li>for ADIs that do not currently report on ARF 320.8, from the reporting period ending 30 September 2018.</li>
<li>APRA will conduct a webinar for ADIs in the coming weeks, to facilitate understanding of the changes.</li>
</ul>
Changes to reporting requirements
Loan-to-income (LTI) and debt-to-income (DTI) ratios
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APRA received feedback in two submissions that using gross income for LTI and DTI may not reflect ADIs’ risk management practices. However, ADIs that apply more conservative discounts or ‘haircuts’ to income will report higher LTI and DTI measures, limiting comparability. In APRA’s view, using gross income for reporting purposes is necessary to allow comparison between all ADIs, acknowledging that it does have limitations.
Two submissions asked for additional guidance on the definition of gross income. The definition of gross income for LTI and DTI reporting has been amended to exclude compulsory superannuation contributions. Further detail has been included in the reporting guidance. 
Additional increases in lending 
One submission sought clarity on whether loans to self-managed superannuation funds (SMSFs) and non-residents should be included in this item. The instructions have been updated to include such loans. 
Two ADIs noted in submissions that they do not expect to report this item, as all increases in credit limits are already captured as new loans funded. APRA confirms that loans subject to a credit assessment should be reported as loans funded, and not as an additional increase. 
Lending to private unincorporated businesses 
APRA proposed that ADIs report two data items on loans to private unincorporated businesses that are secured by residential mortgages. The definition of private unincorporated businesses is consistent with the Economic and Financial Statistics (EFS) proposed by APRA, the Australian Bureau of Statistics and the Reserve Bank of Australia.2 
Three submissions stated that collecting information on ‘family trusts with a controlling interest in a business’ would be problematic. APRA has amended the definition to include all family trusts, not just family trusts with a controlling interest in business. The EFS definitions were also amended accordingly. 
Two submissions suggested expanding the reporting to cover loans to all trading companies, to provide a more complete picture of ADIs’ lending activity. APRA does not propose to expand reporting beyond private unincorporated businesses. ARS 223.0 is intended to capture household (and similar) lending only. Commercial lending for property is captured on other reporting forms. 
External refinancing 
The current definition of external refinancing is limited to loans for substantially the same purpose as the loan they replace. One submission noted that it is not feasible for an ADI to know the predominant purpose of external loans. In line with EFS, the reference to the loan being for substantially the same purpose has been removed from the definition in ARS 223.0.
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Loan vintage 
Two submissions questioned if loan vintage should be measured from the date of a refinance or from the date of the original loan. As per the instructions, loan vintage is to be reported from when the loan is funded, meaning the date of a refinance should be used. 
To find out more about the changes <a href="http://www.apra.gov.au/adi/PrudentialFramework/Pages/Residential-mortgage-lending-reporting-requirements-response-Jan-2018.aspx" target="_blank">click here.</a>
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