<p>International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.</p>

<p>The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.</p>

<p>According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.</p>

<p>&nbsp;</p>

<p>Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185853]</p>

<p>Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.</p>

<p>The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.</p>

<p>"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.</p>

<p>"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.</p>

<p>"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=374280]</p>

<p>Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.</p>

<p>McMahon said the pricing strategy was a deliberate response to the current market.</p>

<p>"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362498]</p>

<p>Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.</p>

<p>Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.</p>

<p>[smartcode_project_cta:default project_id=106566]</p>


Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

<p>Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.</p>

<p>The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366473]</p>

<p><a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.</p>

<p>"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.</p>

<p>"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366474]</p>

<p>Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.</p>

<p>Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.</p>

<p>"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.</p>

<p>"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.</p>

<p>"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=374378]</p>

<p>According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.</p>

<p>Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.</p>

<p>"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.</p>

<p>"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.</p>

<p>"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.</p>

<p>"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366480]</p>

<p>The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.</p>

<p>A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.</p>

<p>The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.</p>

<p>"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.</p>

<p>"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."</p>

<p>The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.</p>

<p>Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.</p>

<p>Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.</p>

<p>Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.</p>

<p>&nbsp;</p>

<p>[smartcode_project_cta:default project_id=140818]</p>


Lowe Living set new Melbourne off the plan apartment record

<p data-end="481" data-start="254">For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.</p>

<p data-end="817" data-start="483">Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.</p>

<p data-end="954" data-start="819">Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.</p>

<p data-end="1151" data-start="956">Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.</p>

<p data-end="1277" data-start="1153">"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.</p>

<p data-end="1510" data-start="1279">"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."</p>

<p data-end="1618" data-start="1512">Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.</p>

<p data-end="2038" data-start="1620">"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."</p>

<p data-end="2295" data-start="2040">Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.</p>

<p data-end="2474" data-start="2297">One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.</p>

<p data-end="2837" data-start="2476">Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.</p>

<p data-end="2909" data-start="2839">[smartcode_project:default project_id=149594 project_image_fid=362614]</p>

<p data-end="3074" data-start="2911">While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.</p>

<p data-end="3307" data-start="3076">As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.</p>

<p data-end="3543" data-start="3309">At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.</p>

<p data-end="3821" data-start="3545">Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.</p>

<p data-end="3893" data-start="3823">[smartcode_project:default project_id=149594 project_image_fid=362633]</p>

<p data-end="4682" data-start="4522">"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.</p>

<p data-end="5037" data-start="4684">"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."</p>

<p data-end="5037" data-start="4684">Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.</p>

<p data-end="5088" data-start="5039">[smartcode_project_cta:default project_id=149594]</p>


Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

<p>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.</p>

<p>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.</p>

<p>The towers will rise above the iconic Breakfast Creek Hotel.</p>

<p>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.”</p>

<p><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" /></p>

<p>Kennon describes the project as a once-in-a-generation opportunity.</p>

<p>"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.</p>

<p>"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."</p>

<p><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" /></p>

<p>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.</p>

<p>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;</p>

<p>There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.</p>

<p><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" /></p>

<p>&nbsp;</p>

<p>Frank Developments has increasingly focused on design-led residential projects across South East Queensland.</p>

<p>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>.</p>


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

<p>ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.</p>

<p>The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.</p>

<p>They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.</p>

<p><img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" /></p>

<p>The design report identifies the public realm as a central driver of the proposal.</p>

<p>"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."</p>

<p>The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.</p>

<p>Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.</p>

<p><img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" /></p>

<p>The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.</p>

<p>"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."</p>

<p>The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.</p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.</p>

<p>The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).</p>

<p>Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.</p>

<p>Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.</p>

<p>The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.</p>

<p>There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

<p>While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

<p>In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.</p>

<h2>What is NatHERS?</h2>

<p>NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.</p>

<h2>How NatHERS Ratings Work</h2>

<p>NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.</p>

<p>The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;</p>

<p>Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.</p>

<p><strong>Cost Savings:</strong> Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.</p>

<p><strong>Environmental Impact:</strong> Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.</p>

<p><strong>Improved Comfort: </strong>Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.</p>

<p><strong>Market Value and Desirability:</strong> Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.</p>

<p><strong>Compliance with Building Codes:</strong> NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.</p>


The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.</p>

<h3>Convenience and accessibility</h3>

<p>Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.</p>

<h3>Vibrant lifestyle and community</h3>

<p>One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.</p>

<h3>Enhanced security and maintenance</h3>

<p>Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.</p>

<h3>Live-work-play balance</h3>

<p>One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.</p>

<p>The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe></p>

<h2>Who pays Stamp Duty?</h2>

<p>In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.</p>

<p>You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

<p style="line-height:1.38">Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.</p>


Ellen Walker

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

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.</p>

<p>But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.</p>

<p>While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.</p>

<p>The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.</p>

<p>In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".</p>

<p>The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.</p>

<p>Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.</p>

<p>Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.</p>

<p>While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.</p>


The inflation result the property market was waiting for

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<h1>
<span style="font-family: Tahoma, Helvetica, Arial, sans-serif;"><span style="font-size: 12.16px;">Saul Eslake</span></span><span style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;">, </span><em style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;">University of Tasmania</em>
</h1>
<p>The 2017-18 <a href="http://www.budget.gov.au/2017-18/content/myefo/html/" target="_blank">Mid-Year Economic and Fiscal Outlook (MYEFO)</a> is another reminder - if one is needed - that the relationship between the budget and the economy runs in both directions. While we mostly ask the question, “how will the budget affect the economy?”, this update shows the economy can also have (and has often had) a significant impact on the the budget.</p>
<p>The highlights of this year’s MYEFO, as far as the government is concerned, are the A$9.3 billion improvement in the underlying cash balance over the four years to 2020-21 (compared with what had been forecast in the May budget), and the consequential A$11 billion reduction in the forecast peak in net debt (from A$366 billion to A$355 billion) in that year.</p>
<p>These improvements are the result of revisions to economic assumptions and other so-called “parameter variations” since the budget, which in total have improved the four-year bottom line by more than A$11 billion. The biggest of these came from reductions in payments to people with disabilities, students, single parents and age pensioners (totalling A$4.6 billion over four years) due to lower-than-expected recipient numbers.</p>
<h2>Personal income tax cuts seem possible</h2>
<p>There is no additional detail in MYEFO regarding the government’s <a href="https://theconversation.com/morrison-talks-down-personal-income-tax-cuts-56308" target="_blank">foreshadowed personal income tax cuts</a> ahead of the next election. But if the forecast surplus for 2020-21 of A$10.2 billion is credible, then there’s arguably some scope for the government to fund personal income tax cuts beginning in that year.</p>
<p>Although the cost of more significant tax cuts would escalate substantially over the medium term, there is actually more scope for these cuts than generally realised (provided the government succeeds in keeping growth in spending under control).</p>
<p>That’s because the projected moderate surpluses, averaging about 0.5% of GDP out to 2027-28, incorporate an arbitrary assumption that taxation revenue will be capped at 23.9% of GDP. If that assumption wasn’t made, the projected surpluses would rise to 1.6% of GDP by 2027-28.</p>
<p>In dollar terms that would imply a surplus of around A$55 billion, compared with one of around A$15 billion if the surplus were only 0.5% of GDP. Over the period 2021-22 to 2027-28, relaxing the assumption that tax revenues are capped at 23.9% of GDP results in almost A$90 billion of additional budget surpluses. This is over and above what is projected with that “tax cap” in place.</p>
<p>Presumably, some of those “additional surpluses” are absorbed, in the government’s internal figuring, by the promised phased reduction in the company tax rate for businesses turning over more than A$50 million per annum by 2025-26 - which according to the last publicly available estimate would reduce revenues by some A$65 billion over ten years.</p>
<p>However, that would still leave a considerable amount “left over” to pay for personal income tax cuts, and allow the government to continue to project surpluses of around 0.5% of GDP out to the second half of the next decade.</p>
<p>That’s assuming, of course, that we are able to clock up 36 years of uninterrupted economic growth, and that all the other projections come to pass, including for a return to more “normal” rates of wages growth.</p>
<h2>Economic indicators in MYEFO</h2>
<p>Treasury has revised downwards its forecast for economic growth in the current financial year, from 2.75% to 2.5%. Partly offsetting this is stronger growth in public spending, which is now forecast to rise by 4% in real terms in 2017-18, up from 2.5% at the time of the May budget.</p>
<p>This reflects faster growth in both government spending (on the NDIS) and investment (NBN and state government infrastructure investment). The forecast for business investment has also been upgraded, from flat at budget time to growth of 2%, the result of both stronger growth in non-mining business investment and a smaller decline in mining investment.</p>
<p>This is largely the result of a downward revision to the forecast for growth in household consumption spending which has been lowered from 2.75% to 2.25%: and this carries over into a 0.25 percentage point reduction in the forecast for 2018-19, to 2.75%. Even these require a further decline in the household saving rate.</p>
<p>The forecast for dwelling investment spending has turned around from 1.5% growth to a decline of 1.5%, with the “softening in dwelling investment occuring slightly earlier than expected”.</p>
<p>Longer term, the government is still anticipating that economic growth will average 3% per annum from 2018-19 through 2023-24, by which time all the “spare capacity” in the labour market will have been absorbed. That is, the unemployment rate will be down to 5% and underemployment (workers not being able to get enough hours at work) returned to more normal levels.</p>
<p><img src="https://counter.theconversation.com/content/89291/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The longer-term projections also assume that wages growth accelerates significantly from 2019-20. This represents the greatest risk to the goverment’s promise of a return to surplus by 2020-21.</p>
<p><span><a href="https://theconversation.com/profiles/saul-eslake-665" target="_blank">Saul Eslake</a>, Vice-Chancellor’s Fellow, <em><a href="http://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</a></em></span></p>
<p>This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/government-budget-update-saved-by-higher-than-expected-economic-figures-89291" target="_blank">original article</a>.</p>
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j.ballantyne1990-6AQqhLzZaK

Government budget update saved by higher than expected economic figures

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<p>ASIC has permanently banned husband and wife, Shrikrishna and Shilpa Karandikar, from engaging in credit activities.</p>
<p>ASIC's investigation found that from mid-2014 to February 2016, Mrs Karandikar had acted as an intermediary between consumers and the National Australia Bank for the purpose of securing a home loan, contrary to the terms of an ASIC banning order in force against her.</p>
<p>The home loan applications were submitted to the National Australia Bank through her husband's mortgage broking business in Dandenong, Siddhi Vinayak Finance Pty Ltd.</p>
<p>Mr Karandikar was permanently banned from engaging in credit activities for being involved in Mrs Karandikar's contravention of the terms of her 2014 banning order.</p>
<p>ASIC also found that Mr Karandikar had engaged in misleading and deceptive conduct by certifying that he had completed customer identification forms in the presence of home loan applicants when he had not.</p>
<p>It was found that Mr and Mrs Karandikar therefore were not fit and proper persons to engage in credit activities.</p>
<p>The National Australia Bank identified the misconduct and reported it to ASIC.</p>
<p>ASIC Acting Chair Peter Kell said, 'ASIC will uphold the integrity of its administrative powers in the interest of protecting the public from unscrupulous mortgage brokers.'</p>
<p>Mr and Mrs Karandikar have the right to seek a review of ASIC's decisions to the Administrative Appeals Tribunal. ASIC's investigation is continuing.</p>
<p>On 10 July 2014, Mrs Karandikar was banned by ASIC from engaging in credit activities for a period of four years, following an ASIC investigation that found she had submitted false documents to secure a $243,000 home loan for a customer</p>
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Dandenong mortgage broker gets permanent ASIC ban

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<p>Weekend auction volumes decreased across the capital cities as the extended Christmas break nears.</p>
<p>There are just a handful of auctions scheduled for next Saturday, December 23.</p>
<p>The penultimate pre-Christmas auction weekend saw a preliminary national auction clearance rate of 64.2 per cent, according to CoreLogic.</p>
<p>The rush of vendors who hopefully thought that buyers needed to buy something before the end of the year and were willing to pay ‘anything’ were increasingly mistaken, as the market changed gears from the intensity of early 2017.</p>
<p>Sydney especially looks set to finish the year with an auction clearance rate in the 50s, and even dipping into the high 40s in some regions.</p>
<p>The number of homes taken to auction nationally fell to 2,865 auctions, down on the prior weekend's 3,371 auctions.</p>
<p>The nation's top auction offering was in Brighton with a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-brighton-127014594" target="_blank" rel="noopener noreferrer">12 Cole Street </a>but which was passed in on a $5.5 million vendor bid.</p>
<p>It had been listed with $5.95 million to $6.44 million hopes, but now comes listed at $5.95 million.</p>
<p>It was a contemporary Steve Domoney Architecture-designed home where the four-bedrooms hugged a Zen-inspired courtyard garden and pool, also accessed from living and dining zones. It came with a two-room Gaggenau kitchen, and a four-room parents’ wing. </p>
<p>Melbourne's highest sale was $3,825,000 in Carlton.</p>
<p>The four bedroom, one bathroom terrace at <a href="https://www.realestate.com.au/property-house-vic-carlton-127015838" target="_blank" rel="noopener noreferrer">173 Drummond Street </a>had been listed with $3 million to $3.3 million hopes. It last sold in 1983 at $165,000, and before that slightly higher in 1982 at $179,000 before the full effect of Australia's second last recession was felt.</p>
<p>Melbourne, Australia’s largest auction market, finished the year off with an auction clearance rate of 67.3 per cent across its weekend 1,628 auctions in a last minute rush to auction.</p>
<p>This time last year, 1,288 properties were taken to auction across Melbourne and a clearance rate of 73.9 per cent was recorded, CoreLogic auction analyst Kevin Brogan noted.</p>
<p>Mosman had Sydney's highest weekend auction outcome when 8 Cobbittee Street fetched $3.57 million pre-auction.</p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-127005662" target="_blank" rel="noopener noreferrer">It was offered </a>for the first time in 93 years. </p>
<p>Sydney’s preliminary clearance rate was 60.8 per cent across 690 auctions. Over the same week one year ago, 878 auctions were held across Sydney and a clearance rate of 71.4 per cent was recorded.</p>
<p>Sydney's pre-auction sales with undisclosed prices included the McMahons Point home (pictured) of the retired litigation lawyer Peter Keel, a former Clayton Utz partner, and his wife Angela.</p>
<p>They had listed their McMahons Point home for December 16 Stone auction.</p>
<p>It was 1999 when the couple commissioned Jon Johannsen to design the modernism <a href="https://www.realestate.com.au/property-house-nsw-mcmahons+point-126782410" target="_blank">double sandstone residence</a> with five bedrooms. It comes with a pool on the double block.</p>
<p>They bought an 1880s-era terrace in the early 1990s for $420,000, and then added its twin in the late 1990s for $620,000.</p>
<p>Slacks Creek, south of Brisbane, had the nation's cheapest weekend house sale.</p>
<p><a href="https://www.realestate.com.au/property-house-qld-slacks+creek-126022630" target="_blank" rel="noopener noreferrer">The two bedroom 44 Atkinson Street home</a> on 600 sqm fetched $285,000 through Ray White.</p>
<p>It had sold at $267,000 in 2010.</p>
<p>There were 196 Brisbane weekend auctions with a clearance rate of 54.8 per cent, compared to a year ago when there were 234 auctions with a success rate of 42.6 per cent.</p>
<p>Adelaide finished the auction year with the strongest weekend clearance rate of the capital cities, at 70.1 per cent, with 107 reported results across a total of 152 scheduled auctions, increasing on last weekend’s 65.2 per cent and the 58.4 per cent one year ago.</p>
<p>Adelaide's results included a three bedroom at <a href="https://www.realestate.com.au/property-house-sa-lockleys-127058442" target="_blank" rel="noopener noreferrer">3 Veronica Crescent, Lockleys</a> sold at $581,000, exceeding what it had been tipped by Belle Property to sell between $490,000 and $530,000.</p>
<p>But a three bedroom at <a href="https://www.realestate.com.au/sold/property-house-sa-south+plympton-127081426" target="_blank" rel="noopener noreferrer">68 Wheaton Street, South Plympton</a> sold prior for $586,000, fell short of its price guidance which was $599,000 to $649,000.</p>
<p> </p>
<div> </div>
<p> </p>
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jchancellor-FAypfDUnLy

Fewer bright auction results signals tougher sellers' market ahead in 2018

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<div>
<div>
<p>After forecasting house price rises every year since 2013, economic commentator Chris Joye has reaffirmed his April 2017 advisory that the property boom is over.</p>
<p>He forecasts that prices will fall in 2018, despite falling unemployment.</p>
<p>He noted Sydney prices started sliding in September this year with the national five-capital city index falling by October, according to CoreLogic numbers.</p>
<p>"Whereas Sydney values have slumped 1.9 per cent, prices across the five capital cities have corrected by a more modest 0.4 per cent.</p>
<p>"And there will likely be the normal seasonality afflicting this data as values typically pull back in December," Joye told readers last week in The Australian Financial Review.</p>
<p>"It's also interesting to observe that there has been no capital appreciation in the stubbornly ebullient Melbourne market since November," he added.</p>
<p>Joye suggests when Australia's jobless rate falls below 5 per cent in 2018, the central bank will have no choice but to raise rates once or twice "assuming it acts rationally."</p>
<p>"This will reinforce the magnitude of the expected correction," he anticipates.</p>
</div>
<div>
<p>Joye looks to the past for solid precedents.</p>
<p>"After the last big bubble that kicked off in earnest in 2001 and ended in December 2003, Sydney prices fell 6.3 per cent in the following three years.</p>
<p>"In the 12 months after their 2003 peak, dwelling values in Melbourne and across the five largest cities declined by 3 per cent and 3.5 per cent respectively."</p>
</div>
<div>Joye notes the 2003 household debt-to-income ratio was merely 150 per cent, "miles below the current 194 per cent mark."</div>
<div> </div>
<div>Joye also noted after the cash rate increased from its then "crisis level" of 3 per cent to 4.75 per cent, home values shrunk 6.7 per cent between late 2010 and early 2012.</div>
<div>
<p>"As a minimum I expect prices to match this result.</p>
<p>"Assuming 100 basis points or more of rate increases, my central case is a 10 per cent plus drawdown in what should be a relatively benign mean-reversion in Australia's otherwise unprecedented house price-to-income ratio."</p>
<p>Joye, a portfolio manager with Coolabah Capital Investments which invests in fixed-income securities, noted the heftiest fall on record was 8.3 per cent in 2008.</p>
<p>He wrote in October while the next downturn may cause "temporary hysteria" in markets, the tremendous deleveraging of bank balance-sheets, coupled with the de-risking of their business models and a notable improvement in the austerity of lending standards, should ensure they are well-placed to absorb what will be, by international standards, a modest lift in home loan losses.</p>
<p>His April column noted his concerns about "the runaway housing boom."</p>
<p>To address the issue, the Australian Prudential Regulation Authority (APRA) had introduced tough new macroprudential constraints on interest-only lending, in an effort to stifle irresponsible lending and borrowing decisions, in a move backed by Treasurer Scott Morrison.</p>
<p>Joye anticipated a softer auction clearance rate to continue throughout 2017, in tune with a pronounced deceleration in price momentum. </p>
<p dir="ltr">“I expect this to continue over the rest of the year, which should alleviate the concerns of rating agencies animated by the blindingly obvious financial stability risks propagated by the RBA's cheap money policies,” Joye wrote in October. </p>
<p dir="ltr">He noted Perth home values had slumped 10 per cent since their December 2014 peak with Joye then predicting that this could eventually happen in Sydney and Melbourne, thus wiping out half the equity of all first time buyers.</p>
</div>
</div>
<p>Residential property in Sydney had benefited from capital gains of 73 per cent since March 2012, care of the RBA slashing its cash rate from 4.75 per cent to 1.5 per cent, transferring wealth from prudent savers to spendthrift borrowers, Joye suggested. </p>
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jonathanchancellor-7SQnKwU6yx

Nascent 2017 falling property prices to exceed 6 percent or more through current cycle: Chris Joye

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<p>Multiplex has completed Central Equity’s $300 million high rise residential apartment tower in Southbank, Southbank Central.</p>
<p>The 48-level tower 1-13 Balston Street in Southbank comprises 485 one, two and three bedroom apartments.</p>
<p>Southbank Central also features a six level podium with retail, car parking and resident facilities including an indoor swimming pool and gymnasium.</p>
<p>Double-glazed floor-to-ceiling windows capture views of Southbank.</p>
<p>Central Equity has <a href="https://www.realestate.com.au/property-apartment-vic-southbank-127084578" target="_blank">one bedroom plus study apartments</a> listed at $449,000.</p>
<p>There are <a href="https://www.realestate.com.au/property-apartment-vic-southbank-127084614" target="_blank">two bedroom offerings</a> at $545,000.</p>
<p>There are three bedroom apartments listed for <a href="https://www.realestate.com.au/property-apartment-vic-southbank-127169862" target="_blank">around $1 million</a>.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/15/mutliplex2.jpg" alt=""></p>
<p>Graham Cottam, Multiplex's regional managing director in Victoria, said Southbank Central delivered on time and to an exceptional standard for residents.</p>
<p>The completion of Southbank Central represents Multiplex’s 15th project for developer Central Equity, with the contractor having delivered towers including Southbank Grand, Southbank One and City Tempo apartment buildings - all of which are HIA award winning developments.</p>
<p>Multiplex has also completed a number of new residential projects in the Melbourne CBD over the last 12 months including Hengyi Pacific’s Light House, ICD Property’s Eq.Tower, and Salvo Property Group’s Platinum Tower.</p>
<p>It also has several residential projects set for completion including LK Property Group’s Capital Grand, Fragrance Group‘s Premier Tower and Hengyi Pacific’s Swanston Central in Carlton. </p>
<p>Central Equity recently dismissed suggestions as to the existence of "ghost" apartments.</p>
<p>The developer –  which claims to have built half of the skyscrapers in Melbourne's Southbank – took a swipe at market doomsayers.</p>
<p>Financial reports for the company show it booked a record $145 million profit from $507 million revenue last financial year.</p>
<p>"Central Equity projects are enjoying very low vacancies resulting in effectively full occupancy," the group's directors, Eddie Kutner, Dennis Wilson and John Bourke, said in an annual report.</p>
<p>"The low vacancies (less than 2 per cent) are underpinning the rental market and providing solid and recurring rental returns," their report noted.Central Equity said its Melbourne development pipeline had swelled to $3.2 billion.</p>
<p>"Lack of affordability has created a pent-up demand which not only underpins pricing but will also act as a cushion against future shocks, if any," the group said.</p>
<p>Central Equity will concentrate now on sales its Melbourne Grand project at 560 Lonsdale Street, a 58-level apartment tower with 650 plus apartments.</p>
<p>Demand has shifted towards larger two and three-bedroom apartments, it acknowledged.</p>
<p>One bedders start at $499,000, two bedders from $599,000 and three bedders from $889,000.</p>
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Multiplex complete Southbank Central for Central Equity

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<p>CoreLogic is tracking 2,666 scheduled auctions across the combined capital cities over what is the last week for auction reporting for 2017.</p>
<p>It sits lower than the 2,735 held over the corresponding week last year. </p>
<p>This is lower than last week’s final results which saw 3,371 auctions held.</p>
<p>Week-on-week activity across Melbourne and Sydney is set to fall as the end of year fast approaches, with a bumper 1,514 Melbourne homes scheduled to go to auction this weekend, down from the 1,833 auctions held last weekend.</p>
<p>Last week was the second busiest week for auctions this year across Melbourne.</p>
<p><span>In Sydney, there are 664 scheduled auctions this week, decreasing from the 1,007 auctions held last week.</span></p>
<p>All of the busiest suburbs for auctions this week are in Victoria, topping the list with 32 residential homes set to go under the hammer is Reservoir, followed by Craigieburn (27), Epping (23), and Frankston (23).</p>
<p>The Reservoir offerings include <a href="https://www.realestate.com.au/property-house-vic-reservoir-127037502" target="_blank">21 Locksley Avenue</a> (above), with $650,000 to $700,000 price guidance through McGrath.</p>
<p>There are fewer than a handful of auctions on Saturday December 23.</p>
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Reservoir sees out the 2017 auction year on top

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<a href="http://petewargent.blogspot.com.au/2017/12/record-high-immigration-to-sydney"></a><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;"><span style="text-decoration: underline;">Immigration ramps up</span></strong> </h3>
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<div>The natural increase in Australia's population slowed a bit over the 2017 financial year as the number of deaths increased. </div>
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<div>However net immigration from overseas boomed by +27 per cent from +193,000 to 245,500, so you can comprehensively chalk that one up as a good call for this blog page (a year ago much of the idle talk of was population growth dropping because of a slowing economy). </div>
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<div>Australia is the planet's sixth largest country so this isn't such a big deal in itself, but the concentration of the immigration will raise a few eyebrows, as we shall see below. </div>
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<div>Over the financial year Australia's population grew by +388,100 or +1.6 per cent to 24.6 million by the end of June 2017. </div>
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<br>The Aussie population will pass the 25 million landmark in 2018.<br><br><strong><span style="text-decoration: underline;">The MEL-SYD magnet</span></strong><br><br><div>Net overseas migration into the two most populous states rose to the highest level on record. </div>
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<div>New South Wales (+98,600) and Victoria (+86,800) accounted for the great bulk of immigration, with new arrivals overwhelmingly clustering into the capital cities of Greater Sydney and Melbourne respectively. </div>
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<div>Immigration into Queensland is also picking up the pace, from a cyclical nadir of +18,300 over the year to September 2015 up to +31,100 in the 2017 financial year, with the trend pointing north as the economy improves. </div>
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<div>Just as significantly for Queensland, the state is now pulling Sydneysiders up and away from New South Wales. </div>
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<div>Net interstate migration to the Sunshine State hit a decade-high +5,050 in the June quarter, taking the rolling annual total up to +17,400, surpassing Victoria to notch the biggest draw of any state. </div>
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<div>This is positive news for Brisbane, while unlike the most populous states Queensland has other worthy growth hubs, including Gold Coast and the Sunshine Coast. </div>
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<div>South Australia lost -5,900 residents interstate, and Western Australia lost -11,700, although in each case the bottom appears to be in. </div>
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<br><span>The big migratory trend in 2018 will clearly be from New South Wales up to Queensland. </span><br><br><div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
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<div>Totting up the figures New South Wales (+121,800), Victoria (+144,400), and Queensland (+79,600) accounted for 89 per cent of population growth in the 2017 financial year. </div>
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<div>Victoria's population growth rate of +2.3 per cent exceeds the rate at which appropriate new accommodation can realistically be built, let alone the availability of new land supply. </div>
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<div>On the other hand population growth rate was considerably weaker than the national average in Western Australia (+21,400 or +0.8 per cent), South Australia (+10,500 or +0.6 per cent), Tasmania (+3,300 or +0.8 per cent), and the Northern Territory (+400 or +0.1 per cent). </div>
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<div>Last, but certainly not least, the Australian Capital Territory added +6,800 or +1.7 per cent to its population, which will help to fill up all those new apartments. </div>
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<span>PETE WARGENT is the co-founder of </span><a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a><span> property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a><span>.</span>
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Record high immigration to Sydney and Melbourne: Pete Wargent 

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<p><span>Westpac will provide interest refunds to 13,000 owner-occupier borrowers who have interest-only home loans.</span></p>
<p><span> The refunds amount to $11 million for 9,400 of those customers.</span><br><br><span>The remediation follows an error in Westpac's systems which meant that these interest-only home loans were not automatically switched to principal and interest repayments at the end of the contracted interest-only period.</span><br><br><span>To remediate the affected customers, Westpac will now:</span></p>
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<li>Refund the additional interest paid from when the loan was contracted to convert to principal and interest repayments</li>
<li>Discount the interest rate for the remaining term of the loan.</li>
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<p><span>This remediation has been designed so that customers pay no more interest over the life of the loan than they would have if the system error had not occurred.</span><br><br><span>ASIC will monitor Westpac's remediation.</span><br><br><span>ASIC and Westpac are yet to conclude an appropriate remediation program for investor customers with interest-only loans affected by the same system error.</span><br><br><span>This has been a long-standing error between 1993 and August 2016.</span></p>
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Westpac yet to deal with IO investor refunds after systems error

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<p class="r _gJs">A home that hit the headlines earlier this year when it sold under the hammer but actually didn't sell, has now sold four months on.</p>
<p class="r _gJs">The hammer fell on a run down Redfern home when builders Sean Piper and Martin Allen outbid everyone to land the property for $1.36 million at its July auction.</p>
<p class="r _gJs">After the price passed $1.35 million, Cooley Auctions auctioneer Jake Moore had indicated the reserve had been reached. It hadn't. He slammed the gavel down and shouted "sold" at $1.36 million.</p>
<p>But then the perplexed listing agent <span>Cheryle Lanthois from <span>Carrington Real Estate belatedly intervened</span></span>. The house apparently had not been “sold” at all.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/13/boronia2.jpg" alt=""></p>
<p>“I’m sorry, I’ve made a mistake. The written reserve was $1.4 million — I had it as $1.3 million. Come inside and we’ll negotiate with the vendor,” Moore told the top bidders.</p>
<p>“We’re not negotiating — that’s it,” Piper said, the Sunday Telegraph noted.</p>
<p>Mr Moore: “I sold it under the written reserve — it’s my fault. It’s not the owner’s fault, it’s not Cheryl’s fault, it’s my fault.”</p>
<p>Lanthois confirmed that the vendor wasn’t selling at $1.36 million, but holding out for $1.4 million.</p>
<p class="r _gJs">Discussions went on after the Boronia Street auction, with the eventual line from Carrington Real Estate agent Cheryle Lanthois saying the property had passed in because the reserve hadn't been met.</p>
<p class="r _gJs">Piper and Allen understandably weren't best pleased and didn't want to go as far as the $1.4 million reserve.</p>
<p class="r _gJs">After all the toing and froing, the home went on to sell late last month through different against BresicWhitney for $1.34 million, marginally less that the price the hammer fell at.</p>
<p class="r _gJs">The Boronia Street home was a run-down three-bedroom terrace with peeling paint, squeaky floorboards, mouldy walls and outdoor dunny. </p>
<p class="r _gJs"> </p>
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Hammered as Redfern derelict terrace sells for less

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<div title="Page 1">Stockland has received approvals for its proposed $830 million Birtinya Town Centre masterplan residential, retail and office development on Queensland’s Sunshine Coast.</div>
<p>Set over 18 hectares, Stockland's project is estimated to generate more than 550 jobs during construction and more than 14,600 new full time jobs on completion.</p>
<p>The first stage of the town centre masterplan is the $87 million Stockland Birtinya Shopping Centre, with works expected to commence before Christmas. </p>
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<p>Stockland Group Executive and CEO of commercial property John Schroder said the new subregional retail town centre would embrace its coastal location with architectural finishes, extensive landscaping and natural ventilation, offering a relaxed atmosphere representing the culture of the Sunshine Coast.</p>
<p>“Stockland Birtinya will be the heart of this vibrant and thriving future town centre featuring a flagship Coles and Aldi supermarket, two mini-majors, an open-air, late night dining precinct, some 30 specialty retailers and 522 car parking spaces.”</p>
<p>“Upon completion of the first stage next year, this new centre will service a primary trade area of 15,000 people, offering a diverse dining, entertainment and retail offering. It will be a great place for convenience shopping, having a coffee along the waterfront or meeting friends for dinner and drinks.”</p>
<p>Stockland will also develop a service station and two drive-thru tenancies adjacent to the shopping centre in the first stage of development. A second stage of the shopping centre will be developed in future stages taking the total retail to 20,000 square metres.</p>
<p>Stockland has committed to a 5 Star Green Star As Built rating for the new Stockland Birtinya Shopping Centre, featuring solar panels and end of trip facilities among other sustainability measures. </p>
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<p>It plans to develop a subregional retail town centre, a new civic plaza, walkable waterfront along Lake Kawana and open green space - all integrated with commercial, health related research facilities and high density residential. </p>
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