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.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

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.

&nbsp;

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.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

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.

"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.

"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.

"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."

[smartcode_project:default project_id=106566 project_image_fid=374280]

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.

McMahon said the pricing strategy was a deliberate response to the current market.

"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."

[smartcode_project:default project_id=106566 project_image_fid=362498]

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.

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.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

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

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.

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.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<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.

"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.

"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."

[smartcode_project:default project_id=140818 project_image_fid=366474]

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.

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.

"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.

"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.

"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."

[smartcode_project:default project_id=140818 project_image_fid=374378]

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.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"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.

"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.

"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.

"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."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

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.

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.

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.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

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.

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.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

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.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

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.

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.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

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.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"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."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"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."

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.

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.

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.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

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.

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.

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.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"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."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

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

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>.

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

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

<html><body>
More than $150 million sold at the sales launch of The Harrington Collection in The Rocks on Saturday morning.
But just 36 of the 58 abodes, including one of two $8 million plus penthouses, sold.
Pricing still reflected the boom times, with fewer interested buyers.
Prices started for the <a href="https://www.realestate.com.au/project/the-harrington-collection-the-rocks-600018998" target="_blank">one-bedders from $1.25 million</a>, two-bedders from $2.1 million and three-bedder from $3 million, with spaces ranging from 52 sqm-66 sqm internal for ones, two-bed apartments from 71sqm-100 sqm.
<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/2017/11/6/HARRINGTON2.jpg" alt="">
The optimist salesman Ben Stewart told Domain he expected the remaining apartments to sell before the end of the month.
Stewart, a senior director at CBRE Residential Projects, had expected the apartments to appeal to downsizers, city professionals and buyers looking for an inner-city “touchdown pad”.
CBRE's chairman of residential projects in Sydney, Justin Brown has noted there had been "a reduction in investors and foreign purchasers within the market that will affect the ability for developers to achieve pre-sales in the future."
"The off the plan market in 2017 normalised ... we saw purchasers seeking value," he told Fairfax Media.
Selling just half of its 131 apartments on the morning of its launch, Castle Residences ranks among the weakest of CBRE off the plan launches this year.
Sales did include the Castle Residences’ penthouse, which sold for $18 million ($62,000 per square metre) at its 203 Castlereagh Street location.
Golden Age Group bought the leasehold, which sits in the historic Baker's Terraces area, from Arena Office Fund for $50 million in 2014.
<div class="cq-article-content-paras section">
<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/2017/11/6/HARRINGTON3.jpg" alt="">
It was a joint development by Golden Age Group and Hannas made up of 49 new apartments, seven town homes and two restored Victorian-era terraces.
The project known as The Harrington Collection will also include commercial office space along with retail.
It will span nine floors to a design by architects FJMT which got instructions from developer Jeff Xu for a smaller boutique development to provide a richer overall experience.
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Buyer hesitancy over price at The Harrington Collection suggest the Golden Age is over

<html><body>
Notre Dame University have bought a unique development site in the heart of Sydney’s university precinct for $21 million at auction.
The auction through Colliers International saw a mix of local and offshore developers, international student accommodation providers and major tertiary providers competing for <a href="https://www.commercialrealestate.com.au/property/142-152-broadway-chippendale-nsw-2008-2013886739" target="_blank">142-152 Broadway</a> in Chippendale.
Bidding started for the 520 sqm site began at $16 million.
“We saw massive interest in this site with over 200 enquiries received prior to auction,” said Miron Solomons, director of Sydney investment sales at Colliers International who sold the site in conjunction with Justin Rose of Ray White Commercial.
“This privately held, 520sq, asset with dual street frontage to Broadway and Grafton lane sits moments from universities, major transport links and Broadway Shopping Centre.”
Strategically located between Sydney University, University of Technology Sydney and the University of Notre Dame, 142 – 152 Broadway the remaining site in Chippendale Education precinct and benefits from close proximity to China Town and the new Light Rail.
<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/2017/11/3/Broadway%20copy.jpg" alt="">
The site has a flexible mixed-use zoning with a floor space ratio of 6:1 and height limit of 25 metres, which allows for a diverse number of uses.
“The favourable development controls offer flexibility for an area which not only provides access to three major education institutions, but also acts as a gateway to the Sydney CBD and ticks all the boxes including its proximity to major transport links and key infrastructure projects,” said Mr Solomons.
“Chippendale has become a thriving part of the city fringe, with a unique culture which has benefitted from unprecedented investment from universities and government as well as residential development and student accommodation providers.”
The inner-city universities around Sydney generate much of the appeal for students, with 153,301 students across the three universities which includes 27.3% or 41,586 international students in 2015 based on the latest statistics.
</body></html>

jrobinson-rf4aSBido9

Notre Dame University buy development site in Sydney's university precinct

<html><body>
How much is Australia's land worth?
The answer is about $5.8 trillion, according to the latest Australian Bureau of Statistics (ABS) figures for the 2017 financial year. That's well over three times the level of Australia's GDP of around $1.7 trillion. 
And, at just under $4.8 trillion, about 83% of that dollar value related to land zoned for residential use (up from just 63% in 1989, when the data series commences). 
Of course, the ABS figures are quite rightly presented in current prices, and do not attempt to account for the twin impacts of inflation and Australia's significant population growth.
Nevertheless, the figures do show why individual or 'Mum and Dad' investors are drawn towards residential property over commercial investments. Since the population is growing and everyone needs somewhere to live, there is more competition for residential land - especially in the big capital cities - and therefore values have risen over the long term. 
<a href="https://1.bp.blogspot.com/-9QH9E-VQgAo/WfLhvwfBnyI/AAAAAAAAmxI/eC1q7mb78y0iivUZ83qiXmDg1yj_rzIZQCEwYBhgL/s1600/A2.jpg"><img src="https://1.bp.blogspot.com/-9QH9E-VQgAo/WfLhvwfBnyI/AAAAAAAAmxI/eC1q7mb78y0iivUZ83qiXmDg1yj_rzIZQCEwYBhgL/s640/A2.jpg" width="640" height="388" data-original-height="822" data-original-width="1353"></a>
At the state level, the strong five-year uplift in residential land values has mainly been driven by New South Wales and Victoria.
Again, these are also the states generating the bulk of economic activity and population growth, so that's to be expected to some extent.
But even accounting for population growth, the uplift in nominal land values was once again huge during the 2017 financial year, with total residential land values rising by about 16% in each of the most populous states. 
<a href="https://3.bp.blogspot.com/-C68DjaHVkhk/WfLhwJAaEYI/AAAAAAAAmxM/RF8bXaqae-M_ITh3mZ0Sf5rE4rygnwX5wCLcBGAs/s1600/A1.jpg"><img src="https://3.bp.blogspot.com/-C68DjaHVkhk/WfLhwJAaEYI/AAAAAAAAmxM/RF8bXaqae-M_ITh3mZ0Sf5rE4rygnwX5wCLcBGAs/s640/A1.jpg" width="640" height="378" data-original-height="826" data-original-width="1395"></a>
As you can see in the above chart, the value of land zoned for housing has all but increased by a lazy couple of trillion dollars through this cycle to date.
In Victoria the total value of residential land sits at about $1.3 trillion, and in New South Wales the figure is now approaching $2 trillion. 
The total value of residential land in both states has comfortably more than doubled since 2009. 
On the other hand, one jurisdiction has seen the total value of its residential land in decline since the 2014 financial year as the resources boom years faded: the Northern Territory. 
</body></html>

How much is Australia's land worth? Pete Wargent

<html><body>
Core Logic measures housing affordability in four different ways, the methodologies of which are detailed below:
<ul>
<li>The ratio of median dwelling prices to median gross annual household income. Utilising median household income data which has been modelled by the Australian National University Centre for Social Research and Methods (ANU) and median dwelling price data from CoreLogic we determine the ratio of dwelling prices to household income over time. For example, a dwelling price to income ratio of 5 implies that the typical household will spend five times their annual gross income to purchase the typical dwelling outright within the same region. 
</li>
<li>The number of years of gross annual household income required for a 20% deposit. Using the ANU’s modelled household income data we provide a measure of affordability for those households that don’t yet own a home. This analysis looks at how many years of a household’s annual gross income is required to pay a 20% deposit, based on the median priced dwelling. For example, a city where the median dwelling price is $600,000, a 20% deposit would equate to $120,000. If the median household income was $100,000, the deposit would comprise 1.2 years of the gross annual income for the household.  
</li>
<li>The proportion of household income required to service an 80% loan to valuation ratio (LVR) mortgage. This measure is based on mortgage serviceability and is more applicable for households that already servicing a mortgage. Assuming the owner has borrowed 80% of the median selling price (i.e. they had a 20% deposit) and are making their mortgage payments based on the discounted variable mortgage rate for owner occupiers (4.5% as at June 2017), we measure the proportion of annual household income required to service the mortgage. For example, for a region with a median dwelling price of $600,000, the typical loan amount based on an 80% LVR would be $480,000. Based on the current discounted variable mortgage rate and annual household income of $100,000, the household would be dedicating 32.0% of their gross annual household income to servicing the mortgage. 
</li>
<li>The proportion of gross annual household income required to pay the rent. Utilising household income data and the median weekly rent we measure what percentage of household income is required to service their rental payments. For example, a household with $100,000 annual gross income who is paying $600 per week in rent would be dedicating 31.2% of their annual gross household income to pay their rent.</li>
</ul>
The latest data to June 2017 indicates that, despite the cash rate remaining stable at record lows, housing affordability has generally worsened over the most recent quarter. The changes in affordability at a national level are detailed below: 
<ul>
<li>Dwelling price to household income ratio The national dwelling price to household income ratio was recorded at 6.8 in June 2017, with a higher ratio for houses (7.0) compared with units (6.3). The ratio increased over the quarter for houses and units however, 15 years ago the ratios were much lower at 4.5 for houses and 5.1 for units. The measure for houses is currently at an historic high while for units it has moderated slightly from a high of 6.5 in early 2015. 
</li>
<li>Years of household income required for a 20% deposit A 20% deposit was equivalent to 1.36 years of gross household income at the end of June 2017, with the figure recorded at 1.40 years for houses and 1.26 years for units. At the same time in 2002 it took 0.92 years to save a 20% deposit, 0.89 years for houses and 1.02 years for a unit. As the cost of housing has increased and household income growth has slowed it has become increasingly challenging for some segments of the market to raise a 20% deposit which has required a longer period of savings in order to enter the housing market. 
</li>
<li>Proportion of household income required to service an 80% LVR mortgage At the end of 2016-17 financial year it took 36.2% of the median gross annual household income to service a mortgage, with the proportion higher for detached houses (37.2%) and lower (33.7%) for units. Although mortgage rates have fallen over the past year, the ongoing increases in dwelling prices and low level of household income growth means serviceability has deteriorated. Despite the higher reading over the June quarter, mortgage serviceability is currently at similar levels to what was recorded in early 2004, highlighting how lower interest rates have made it easier for home owners to service and pay off their mortgage debt. 
</li>
<li>Proportion of gross annual household income required to rent a home Over the past 15 years there has been very little movement in the proportion of household income required for rent. This highlights that increases in rental costs are constrained by movement in household incomes. At the end of June 2017, 27.6% of the median gross annual household income was required to pay rent with the figures similar for houses (27.2%) and units (27.6%) across the country. The data also highlights that despite historic low interest rates, it generally remains cheaper to rent than to take out a mortgage in many areas.</li>
</ul>
For the purposes of this analysis we have just focussed on two metrics, the dwelling price to household income ratio and the proportion of household income required to service an 80% LVR mortgage.
Dwelling price to household income ratio
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017-10-30-blog_img1.png" alt="2017-10-30--affordabilityblog_IMG1" width="570" height="344">
The above charts highlight how much of the deterioration in housing affordability, based on a dwelling price to household income ratio, is occurring in Sydney and Melbourne. Five years ago Sydney’s ratio was 6.7 times and Melbourne’s was 6.5 times, fast forward to June 2017 and the ratios sit at 9.1 times and 7.5 times respectively.
Over the past five years, median dwelling prices in Sydney have increased by 59.6% and Melbourne prices are 29.9% higher. Meanwhile, Sydney household incomes are 18.4% higher and Melbourne household incomes are up 13.2%.
Outside of Sydney and Melbourne, most other capital cities have actually seen very little change in affordability over the past five to ten years based on this metric. This highlights that while deteriorating housing affordability is viewed as a national problem, Sydney and Melbourne (where 40% of the population live) is very much the focal point.  
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-10/2017-10-30-blog_img2.png" alt="2017-10-30--affordabilityblog_IMG2" width="570" height="343">
Proportion of household income required to service an 80% LVR mortgage 
This analysis takes into consideration mortgage rates and the impact of changes in them over time. Keep in mind that this analysis relates more to the cost of servicing a mortgage so is related more so to someone that already owns a property whereas the price to income ratio is more about the cost of entering the housing market.
This analysis highlights that not only is it more expensive to enter the market in Sydney and Melbourne but once you own a home the mortgage currently eats up a much larger chunk of household income than it does elsewhere.
Mortgage rates for owner occupiers are at historic lows however, someone buying under these conditions would still be spending 48.4% of their gross annual household income to service that debt in Sydney and 39.9% in Melbourne. Of course, these figures have been higher peaking at 54.4% in Sydney in March 2008 and at 49.1% in June 2008 in Melbourne.
Importantly, in March 2008 mortgage rates sat at 8.7% and in June 2008 they were 8.85% compared to rates of 4.5% in June 2017. Outside of Sydney and Melbourne the cost of servicing a mortgage is much lower but again, it is important to remember that mortgage rates for owner occupiers are at historic lows and likely to start moving higher at some stage, potentially in 2018 or 2019.
The data presented highlights that housing is expensive across the country and that over recent years housing affordability has deteriorated however, much of that deterioration has occurred in Sydney and Melbourne where the pace of capital gains has far exceeded growth in household incomes.
The latest CoreLogic Home Value Index data shows that dwelling value growth is slowing however, moderate falls are unlikely to result in a significant improvement in housing affordability. As mentioned, despite mortgage rates for owner occupiers tracking at record lows, servicing a mortgages is taking-up a large proportion of household incomes in Sydney and Melbourne. 
Should mortgage rates start to rise without a commensurate rise in household incomes it will mean that households will have to spend an increasingly greater proportion of their household income to service their mortgage. If that was to occur it would likely impact on other areas of the economy, particularly with regards to areas of expenditure such as retail trade.
</body></html>

ckusher-ujnxiKuFQs

Mortgage rates for owner occupiers are at historic lows: Cameron Kusher

<html><body>
GUEST OBSERVER
The Reserve Bank of Australia could join the likes of Estonia and Lebanon in creating a cryptocurrency based on the Australian dollar, to reap the benefits of technology like the blockchain but with more stability than other well known currencies like Bitcoin.
The RBA has already been approached by interested startups to create this new digital currency, known as the “DAD” or Digital Australian Dollar.
In contrast with other cryptocurrencies a state-backed digital currency has the advantage of being backed by the government as in fiat currency, but at the same time has the technological advantages shared by other cryptocurrencies.
A digital Australian dollar could remove the role of middlemen and create a cheaper electronic currency system, while at the same time enabling the government to fully regulate the system.
It would also allow transactions to settle faster (several minutes to an hour) than the traditional banking system (several hours to several days), especially in a situation where an international payment is involved.
The difference between a digital Australian dollar and Bitcoin
We already use the Australian dollar in a digital form, for example paying via your smartphone. But banks are essential in this system, moving money on our behalf.
When using a cryptocurrency, you interact with a system like the blockchain, an online ledger that records transactions, directly. Bitcoin, Litecoin, and Ethereum are examples of cryptocurrency that use the blockchain in this way. These currencies are created by the community that use them and are accepted and trusted within the community.
However, since the community runs the system, the price of the cryptocurrency solely depends on the market mechanism. When the demand increases, the price increases, but when the demand decreases, the price also decreases. While it might create an opportunity for speculators to gain profit from trading, it also creates risk for the cryptocurrency holders.
In comparison to cryptocurrency, the digital Australian dollar might be well managed that the price volatility could be reduced significantly. The government holds the capability of increasing or decreasing the money supply in the system. This power can be used to stabilise the market supply of the new digital currency.
The blockchain technology also reduces the fee for every payment made. This is made possible by removing the role of banks or other intermediary parties charging fees for their services. However, a small transaction fee still needs to be introduced to protect the system from being flooded by adversaries with insignificant transactions.
The characteristics of cryptocurrency itself might limit its usage to daily transactions. As the pioneer of cryptocurrency, Bitcoin was created to become a payment system, but the users gain incentive by simply saving their cryptocurrency and not using them to purchase goods or services.
They believe the future price of the cryptocurrency is higher than the current price and thus does not make a good medium of exchange nor a store of value. There is no guarantee that the cryptocurrency will hold any value in the future. Since there is nothing to back up the value, users will lose their wealth when the community no longer acknowledges the value of cryptocurrency.
Cryptocurrency might also jeopardise the local government’s effort of implementing regulations to minimise illegal activities. Perpetrators create cryptocurrency transactions easily without being detected by the government’s financial monitoring system.
The privacy features of cryptocurrency also make it hard for law enforcement agencies to determine the actors behind illegal activities. Although most governments in the world have enforced the coin exchange services to identify their users, the operation of the cryptocurrency is beyond their reach.
There are other state-backed digital currencies
The idea of creating a national cryptocurrency is not new. Estonia has explored ways to create Estcoin, following an initiative on the blockchain-based residency registration called e-Residency. Lebanon’s central bank has also started to examine the possibility of creating one.
Despite the efforts of those central banks, several questions must first be addressed before launching the real product to the public. The user’s financial data could be exposed since the blockchain will make all transactions created in the system transparent.
<img src="https://counter.theconversation.com/content/86621/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Consumer protection is also a concern since all transactions made in the blockchain are permanent without the possibility of being reversed. Without firm solutions to those problems, the digital Australian dollar will not satisfy all requirements to be the next groundbreaking innovation for the country’s financial system.
Dimaz Wijaya, PhD Student, Monash University
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-the-rba-would-want-to-create-a-digital-australian-dollar-86621" target="_blank">original article</a>.
</body></html>

Why the RBA would want to create a digital Australian dollar: Dimaz Wijaya

<html><body>
GUEST OBSERVER
It’s March 2018. A massive storm has hit Sydney’s northern beaches. Luckily no one is hurt, but the floodwaters take days to drain away and the economic impact is serious.
Reporters will tell the story over and over again: how much damage this torrential rain did. But where have we heard that before? Well, the list includes: both Queensland and New South Wales this year, Sydney in 2016, Gold Coast in 2015, Bundaberg in 2013, Queensland in 2012 and Brisbane in 2011.
We are starting to understand we will be hit by ever-increasing storms and floods. The risk is especially high in years when La Nina makes her appearance.
We also know good urban design can reduce the impacts.
Measures to soften the blow
Sydney’s Green Grid is planned to increase the resilience of the city and its residents against flooding and other climate impacts. The grid is designed to connect hydrological and ecological systems or, better, to reconnect these systems to boost their capacity to deal with sudden and severe impacts.
Spaces need to be created in the city for storing water during and directly after a flood. This will stop water from drowning people, flooding houses or destroying public property. These storages can take the form of water squares, temporary storage on ovals or parking areas, basins or gardens on rooftops, and swales along roads.
These measures are well known to be effective and together form an urban sponge system. All we need to do is to create more of these places to increase the capacity to take up water, then release it when safe to do so.
In every city certain areas play a crucial role in increasing, or not decreasing, water-storage capacity. These areas are on the edge of the waterscape and the cityscape. Increasing water storage here prevents bigger problems elsewhere.
What this means for Marrickville
If these places become built-up and can no longer effectively store floodwaters, the impact downstream is disastrous. Carrington Road in Sydney’s Marrickville is a prime example. This inner-city area flooded in 2012, leaving cars floating, houses flooded and people’s belongings lost or ruined.
The analysis and the facts are clear, even neatly mapped out by the New South Wales state government. No misunderstanding there. The safest option is not to build up this area.
<img src="https://images.theconversation.com/files/192763/original/file-20171101-13406-1i4u642.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
The flood-prone zone in Marrickville. NSW government, 2015
However, if Sydney wants to become a global city, we need to get used to urban environments with higher densities – these have all kinds of advantages. Immediate benefits include better public transport, higher level of amenities and proximity to a dynamic economic environment which generates jobs for the local population. Higher density also prevents occupation of green spaces outside the city and unnecessarily long commuting times for people housed even further away from the city.
This means no densification of existing neighbourhoods is a poor option. However, a proposal to build 20 buildings with 2,600 units in the flood-prone zone in Marrickville has raised eyebrows.
The local council is opposing the “monstrous” scale of the development. The state Labor opposition has joined the battle against this “mega-apartment project”.
But much of the opposition is not for the right reasons. The Inner West Council’s Carrington Road area planning proposal seems to prioritise density over flood risk. When the Cooks River overflows again, as it will, the floods will be even more severe.
Planning should be aiming to create a symbiotic situation, in which a higher-density development and flood mitigation are complementary. The challenge is to marry two seemingly contrasting ambitions: to increase density and yet not increase the vulnerability to floods.
Well-structured density makes all the difference
To achieve this, the first consideration would be to see the area as a flood reservoir where water can temporarily be stored. If this reservoir is then also used to clean rain runoff and grey water from the apartment buildings, it would function as a green space, water treatment and flood remediation space all at once.
What if one large natural wetland could be created, which could capture the water from the Cook River during a flood, but could also clean the rain and grey water from the buildings? The new buildings would not have to suffer from hazards such as flooding because the site design has anticipated the risk.
As an example, imagine a Borneo-Sporenburg type of setting in which the water space surrounds the built-up area. Even with mostly low-rise housing, the development could still reach a high density of around 150 dwellings per hectare.
Applied to Carrington Road, this would imply around 1,200 dwellings can be built in a low-rise setting. Adding two internal superblocks to this development would create another 500 units and only one high-rise building (instead of 20) would then be needed to make it to 2,600 dwellings in the whole development.
The new neighbourhood could form a very sustainable, almost circular system in which waste water, waste heat and waste materials could all be reused for the apartments and dwellings, and in the wetland reservoir. This way the wetland becomes an attractive green space for residents to use. It’s then a green space that not only accommodates the eventual flood, but also regulates the temperature of the urban environment, creating cooler places in summer.
<img src="https://counter.theconversation.com/content/86608/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">An interesting milieu could emerge here. If the buildings were built on stilts and lifted above the reservoir, wildlife, ecology and water could exist undisturbed under and around the buildings. The result would be a flexible infill development that preserves green and public space, and which is ready for extreme weather or climate conditions.
Rob Roggema, Professor of Sustainable Urban Environments, University of Technology Sydney
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/higher-density-in-a-flood-zone-heres-a-way-to-do-it-and-reduce-the-risks-86608" target="_blank">original article</a>.
</body></html>

How to reduce the risks higher density in a flood zone: Rob Roggema

<html><body>
GUEST OBSERVER
We know what makes for healthy and liveable communities, which in turn produces massive payoffs. But we often lack comprehensive policies and frameworks to deliver on the promise. In producing Australia’s first baseline measure of liveability across our capital cities, we found none of them perform well across all the key indicators.
<a href="https://cur.org.au/project/national-liveability-report/" target="_blank">Our report</a> considers seven domains of a city’s liveability that also promote health and wellbeing:
<ul>
<li>
walkability
</li>
<li>
public transport
</li>
<li>
public open space
</li>
<li>
housing affordability
</li>
<li>
employment
</li>
<li>
food environment
</li>
<li>
alcohol environment.
</li>
</ul>
When it comes to delivering liveability, the evidence of geographical inequities within and between cities is widespread. Outer suburban areas are clearly less well served than inner-city suburbs.
To highlight just how much work needs to be done, and what’s at stake if we don’t get it right, we delve here into three key domains: walkability, public transport, and housing affordability.
Walkability
Walkability is the foundation for achieving liveable, healthy cities. But our analysis of Melbourne, Perth, Brisbane and Sydney reveals a mismatch between the aspiration of walkable communities and the policies needed to achieve this.
This was particularly evident when considering dwelling density. State policies in Melbourne, Sydney and Brisbane all include a density standard for suburban development of 15 dwellings per hectare. This is a low policy ambition that will perpetuate urban sprawl.
Perth has a more ambitious target for new suburban development – 26 dwellings per hectare – while Brisbane’s target for “urban” development is 30 per hectare.
These latter targets – still low by international standards – are more consistent with the evidence on the density needed to create walkable neighbourhoods, with more shops, services and public transport.
But despite state governments setting very modest density targets, there is little evidence that even these policies are being implemented.
<a href="https://images.theconversation.com/files/190334/original/file-20171016-27711-lt587m.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/190334/original/file-20171016-27711-lt587m.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
Only Perth and Melbourne appear to have measurable policies and targets for increasing access to local destinations. However, only a minority of dwellings in both cities (less than 10% and 40% respectively) meet their state government targets.
This is important: local destinations are essential for walkable neighbourhoods.
The final element that makes neighbourhoods walkable is the design of the street network. More connected street networks, like grid-patterned networks, increases proximity to local destinations and provides residents with alternative routes.
We found that all cities except Sydney have measurable spatial policy targets to increase street connectivity (block and/or lot size), but few have street connectivity targets.
Public transport
Policies and targets that combine proximity (having a public transport stop within 400 metres) with frequent service (at least every 30 minutes) are a better indicator for healthy, liveable communities.
When this more ambitious target was applied, we found around 36% of dwellings in Melbourne, Adelaide and Sydney have this level of access. The proportion is 18% in Perth and between 11% and 13% in Brisbane, Canberra and Hobart. In Darwin, only 4% of dwellings have this level of access.
Melbourne, Perth, Brisbane and Sydney show a clear pattern of better access to nearby and frequent public transport in areas closer to the city centre.
Fewer areas in smaller cities such as Canberra, Darwin and Hobart have access to public transport comparable to that of larger cities. The spatial pattern of access is less clear, though in Adelaide and Hobart public transport access is higher closer to the inner city.
Residents of some cities face greater public transport access barriers than others. But these results show the majority of dwellings in the capital cities do not have access to nearby and frequent public transport services during weekday work hours.
<a href="https://images.theconversation.com/files/190332/original/file-20171016-27721-q9ro43.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/190332/original/file-20171016-27721-q9ro43.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
Proximity targets are easier to achieve. However, other Australian cities could consider following New South Wales’ lead by adopting more ambitious public transport targets. These should combine proximity with frequent services, with short-, medium- and long-term targets for achieving these more ambitious goals.
Housing affordability
We identified no state-specific measurable spatial policy standards for improving housing affordability, availability or quality.
With such a major policy gap, we assessed housing affordability using the only two national liveability indicators found to be associated with health and wellbeing: the 30/40 measure of housing affordability, and the proportion of households renting.
The <a href="https://www.ahuri.edu.au/research/glossary/glossary-items/housing-affordability-stress-3040-indicator-or-ratio-approach" target="_blank">30/40 indicator</a> identifies households as being in housing affordability stress when a household’s income is in the bottom 40% of Australia’s income distribution and it uses more than 30% of its income to pay for housing.
Using the 30/40 indicator (based on the <a href="https://www.propertyobserver.com.au/https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/quickstat/0" target="_blank">2011 Census</a>), more than one-third of lower-income households in Sydney, Brisbane, Melbourne, Darwin and Perth appear to be experiencing housing affordability stress. Sydney had the highest percentage (38%), closely followed by Brisbane (37%). Fewer lower-income households in Canberra (31%) appeared to be encountering housing affordability stress based on the 30/40 indicator.
The proportion of households renting varies significantly between cities. It’s highest in Darwin, where 43% are renting.
<a href="https://images.theconversation.com/files/190335/original/file-20171016-27705-oi28i7.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/190335/original/file-20171016-27705-oi28i7.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
In Sydney and Brisbane, and to a lesser extent in Melbourne, housing affordability stress appears to spread across much of the city.
Low-density housing on the urban fringe is sometimes seen as a policy solution to housing affordability problems. However, we found the suburbs with the highest housing affordability stress were located toward the urban fringe.
Given that outer suburbs have poor access to public transport and are less likely to be walkable, these are the areas most at risk of mortgage stress, given high household spending on private car use. Suburban expansion without considering these other factors is unlikely to relieve the housing affordability stress these households experience.
We need comprehensive, integrated planning to ensure they have access to walkable communities, public transport, cycling infrastructure and local jobs to reduce their car dependence.
How to make our cities more liveable
All three levels of government share the goal of increasing the liveability of our cities. But our study identified only a limited number of measurable spatial policy standards that could be used to assess progress toward achieving this goal.
Our research has shown it is possible to create spatial indicators that will allow urban policies to be benchmarked and monitored over time, and for the level of implementation to be assessed. This could assist in assessing progress and in determining the highest priorities for local, state and federal investment.
And if linked to desirable results (such as use of active and public transport, shorter commuting times, less traffic congestion, and better health), these indicators could provide an early warning of unintended outcomes that require policy adjustment.
We discovered that Australia urgently needs integrated and comprehensive urban policies that will better shape cities that foster health and wellbeing for all residents. Walkable urbanism, even on the city fringe, must underpin healthy liveable cities.
This will require leadership from all levels of government, as well as the development industry which delivers suburban development.
Billie Giles-Corti, Director, Urban Futures Enabling Capability Platform and Director, Healthy Liveable Cities Group, RMIT University
Jonathan Arundel, Senior Research Fellow, Healthy Liveable Cities Group, Centre for Urban Research, RMIT University
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/city-by-city-analysis-shows-our-capitals-arent-liveable-for-many-residents-85676" target="_blank">original article</a>.
</body></html>

City-by-city analysis shows our capitals aren’t liveable for many residents: RMIT

<html><body>
GUEST OBSERVER
Governments at all levels invest a lot in greening Australian suburbs. Yet, in a <a href="https://202020vision.com.au/help-hub/the-research-hub/detail/?id=4059">recent report</a>, we show that the greening efforts of most of our metropolitan local governments are actually going backwards.
This is a puzzle, as greening has clear environmental and economic benefits. The environmental benefits are obvious and relatively easy to count. For private home owners, numerous studies have linked greening to a range of economic benefits from <a href="https://www.sciencedirect.com/science/article/pii/S036013231400081X">energy savings</a> to <a href="https://www.sciencedirect.com/science/article/pii/S0921800916303585">higher house prices</a>.
So how do we explain the loss of green cover?
How we tracked the changes
Our research aimed to assess urban greening efforts and what accounts for the gains and losses.
Based on <a href="https://canopy.itreetools.org/">i-Tree</a>, a well-known method for sampling urban vegetation distributions and associated land covers, we compared 2016-17 figures with an early assessment that ranged from <a href="https://202020vision.com.au/news/2014/08/where-are-all-the-trees/">2008 to 2013</a> to examine changes in vegetation cover by local government area.
The report shows that large variation exists nationally in the growth and loss of tree canopy. Losses and gains can often be explained, however, by the changing nature of urban vegetation as neighbourhoods are transformed over time.
For example, in the graph highlighting the extent of tree canopy cover change for metropolitan local governments, Glenorchy in Tasmania shows the greatest tree canopy loss between 2008 and 2015 (more than 15 percentage points). Yet a gain in shrub area of more than 12% largely offset this canopy loss.
Similarly, Armadale in Western Australia gained more than 12% of tree canopy cover between 2011 and 2015 but lost more than 15% of shrub cover.
<a href="https://images.theconversation.com/files/187683/original/file-20170926-13681-19lexk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/187683/original/file-20170926-13681-19lexk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Loss of canopy from 2008-2013 to 2016 for all 139 metropolitan local government areas. (To see more detail in the report itself, go to <a href="https://202020vision.com.au/help-hub/the-research-hub/detail/?id=4059" target="_blank">Where should all the trees go?</a>)
Metropolitan local governments in Australia are very diverse in size and land use. The largest in our study, Cairns Regional Council in Queensland, is 1,500 times the area of the smallest, Peppermint Grove in inner-city Perth.
Some local government areas are dominated by non-urban land uses. This means natural processes such as bushfires, drought and forest regrowth are going to significantly affect greening efforts. Others are going to be affected by urban densification and housing growth.
Understanding greening efforts as a function of canopy loss alone is problematic for some local governments. Instead, a more appropriate measure may be the total change in urban greenery (canopy, shrubs and turf) between the two study periods. These results show that 54 out of the 139 local governments (39%) studied had suffered statistically significant losses in total green space.
Added up across Australia’s major metropolitan regions, this amounts to vegetation loss of 2.6% in our urban environments. This doesn’t like sound much, but it is equivalent to 1,586 square kilometres – a larger area than the City of Brisbane.
<a href="https://images.theconversation.com/files/187688/original/file-20170926-10403-pow3qw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/187688/original/file-20170926-10403-pow3qw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Loss of total green space (canopy, shrubs and turf) from all 139 metropolitan local government areas. Red indicates a statistically significant loss to 95% certainty.
What explains this decline?
<a href="https://images.theconversation.com/files/186122/original/file-20170915-8984-1xgw968.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/186122/original/file-20170915-8984-1xgw968.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
New developments across Perth show densification in selected locations. WA Land Information Authority (2016)/Alex Saunders (2017)
The location of many of the local government areas suffering more than 5% loss in green space provides clues to the types of processes driving this loss. For example, Newcastle in New South Wales lost 8.5% of its green space during our study period largely due to losses in grass cover as a result of greenfield development.
Yet, in inner-city Ashfield, the infill development of once-vegetated lands continues apace, with grass-to-hard-surface conversions accounting for most of its 7.3% loss of green space.
In some cases, local government areas are undergoing losses in a similar location. For example, the areas with the greatest losses in green space across Perth lie in a band that stretches from inland Melville to coastal East Fremantle. In these locations, the traditional Aussie backyard is losing ground to densification and infill.
<a href="https://images.theconversation.com/files/185078/original/file-20170907-14552-1fj1m9h.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/185078/original/file-20170907-14552-1fj1m9h.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
An example of changes in Melville, suburban Perth, between 2011 and 2017. Google Maps
How do our cities compare?
In recent years, interest in benchmarking exercises such as these has increased internationally. In the US in 2012, David Nowak and others examined the <a href="https://www.sciencedirect.com/science/article/pii/S1618866711000999" target="_blank">growth and decline in vegetation cover</a> for 20 cities using the i-Tree methodology. US cities showed significant variability in combined tree and shrub canopy cover (54% for Atlanta to 10% in Denver).
The good news is that Greater Melbourne and Adelaide, both with 24% tree and shrub cover, perform better than the lowest values for the US cities. And Hobart’s shrub and tree cover of 57% is higher than Atlanta’s.
<a href="https://images.theconversation.com/files/186124/original/file-20170915-8998-15aodkr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/186124/original/file-20170915-8998-15aodkr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Benchmarks for land cover in Australian capital cities 2016-17. Where should all the trees go?/Marco Amati
Yet within Australian cities the variability is pronounced. Canopy covers range from 77% (Yarra Ranges, Vic) to 3% (Wyndham, Vic).
The US urban forest is also subject to natural forces like Australia’s. New Orleans lost the largest amount of canopy cover (10%) as the study period included the damage inflicted by Hurricane Katrina.
<a href="https://images.theconversation.com/files/185081/original/file-20170907-14552-ipwn2y.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/185081/original/file-20170907-14552-ipwn2y.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
 In the 1940s even cement companies were friends of the backyard. Source: The Australian Home Beautiful, October 1943
Yet, when considering the downward trend in greening, it is the historical comparison that is the most striking. The backyard was once an icon of the lifestyle enjoyed by generations of Australians growing up after the second world war.
<img src="https://counter.theconversation.com/content/83354/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">If the downward trend in green cover continues, should the Australian backyard be red-listed as a threatened species?
Marco Amati, Associate Professor of International Planning, Centre for Urban Research, RMIT University.
Alex Saunders, GIS Specialist, Centre for the Built Environment and Health, University of Western Australia.
Bryan Boruff, Senior Lecturer, School of Agriculture and Environment, University of Western Australia.
Drew Devereux, Research Scientist, Data 61, CSIRO.
Kath Phelan, Research Fellow, Centre for Urban Research, RMIT University.
Peter Caccetta, Research Scientist, CSIRO
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/were-investing-heavily-in-urban-greening-so-how-are-our-cities-doing-83354">original article</a>.
</body></html>

Why are our urban greening efforts going backwards?

<html><body>
GUEST OBSERVER
Two current global trends are set to make life rather uncomfortable for cities: climate change and the unprecedented rate of urbanisation.
This combination of extreme weather – often involving sudden deluges of water – and high population density will test even the best sewage infrastructure we have today. In the face of such pressures, how adaptable are our sewage systems?
Colonial heritage in our sewage systems
Sewage systems worldwide commonly consist of flush toilets and pipes that rely on a steady supply of water to transport and deposit bodily waste, either to a wastewater treatment plant or, failing that, simply downstream in the nearest river or straight into the ocean.
Many urbanites around the globe are using sewage systems based on a colonial-era template. Initially implemented to cure London’s “Great Stink” of 1858, when a hot summer combined with the excrement-filled River Thames to create an unbearable stench, sewer systems were public health interventions designed to remove pathogens and “miasmatic” offences associated with bodily waste.
They were first transplanted off Britain’s shores in the reconstruction of Paris from 1850–70, and since then have become embedded culture-specific notions of hygiene and sanitation around the globe.
Such colonial infrastructure is now proving increasingly problematic in the face of human-driven global trends (broadly referred to as the Anthropocene).
Using water to flush waste
A paradox of climate change is that there seems to be both more and less water. In South Asia, for example, at least 1.6 billion people struggle to find drinking water despite an abundance of water generally.
<img src="https://images.theconversation.com/files/177976/original/file-20170712-19681-1mjtidi.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
A woman siphoning water from a leaky pipe into a bucket on the side of the road during summer. Author provided
For residents of Darjeeling, India, where I am currently conducting my PhD fieldwork, this paradox is very real. Monsoons in Darjeeling last from June through August, sometimes longer, and rain falls frequently throughout the rest of the year. On the face of it, Darjeeling should have plenty of water, but in fact it faces increasingly acute shortages during the summer months from April to June.
The town’s water and waste infrastructure was built by the British in the 1930s, for what was then a population of 10,000. Its population now hovers around the 150,000 mark, and surges to more than 200,000 during peak tourist season from March to May. Despite this, there has been little to no official maintenance or upgrade since Indian independence in 1947.
In town, signs that urbanisation has outpaced infrastructure capacity are everywhere. An impressive number of pipes move water to and from the population. Along with electricity wires, these pipes traverse the city along increasingly bizarre and precarious routes. Ad hoc retrofit attempts to meet rising demand appear to be band-aid solutions and, because the pipes leak, often exacerbate contamination.
<img src="https://images.theconversation.com/files/178026/original/file-20170713-19681-1qpyt4u.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
 A typical open sewer in Darjeeling. Note the pipes on either side are water pipes taking drinking water to homes. Author provided
Darjeeling is instructive because it is a landscape struggling with inadequate infrastructure amid a rapidly urbanising population. In such a landscape, fresh water can be contaminated by sewage outflows, largely because the system is completely dependent on water to function.
Such over-reliance underpins another paradox: modern sewerage systems require water to work and yet, if not context-sensitive nor managed appropriately, can dirty vital waterways.
Closer to home
Australia is not immune to such problems. Our changing climate means we too face more severe droughts along with heavier rainfall events. Under these conditions, our sewage systems are under increasing stress.
Earlier this year Melbourne experienced summer flash floods which strained the city’s sewage systems, contaminating three public beaches. In February a heavy downpour in Western Australia caused concern over sewage contamination in the Swan River.
Such experiences are not isolated, and are likely to increase in incidence across the world. They provide important lessons and act as a catalyst for rethinking our relationship to water and waste, particularly amid concerns over water scarcity and extreme weather conditions in southern Australia.
Alternative futures
Many social scientists are now researching alternative forms of infrastructure that are contextually relevant, embedded in community values, and adaptable to current environmental challenges.
These alternative forms include moves to re-examine our relationship with waste in farming, use dry composting toilets, and install public bio-toilets along India’s main railway corridors.
<img src="https://counter.theconversation.com/content/78095/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">As for my home town of Adelaide, the capital of the driest state on the driest inhabited continent on Earth, should we really continue to use water to flush bodily waste?
Matt Barlow works at University of Adelaide.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/finally-facing-our-water-loo-its-time-to-decolonise-sewerage-systems-78095" target="_blank">original article</a>.
</body></html>

Decolonising our sewerage systems: Matt Barlow

<html><body>
<div>
Westpac Group hopes to thwart "liar loans" by introducing stringent tests on residential property borrowers' existing and future capacity to meet repayments.
<div>
Mortgage brokers' onus of proof will be switched from establishing whether a loan is suitable for a client to making a declaration as to why it is "not unsuitable".
<div>
There are concerns lenders and brokers, paid by commission linked to the size of the loan, have overestimated borrower incomes and underestimated expenses.
</div>
<div>
<a href="https://www.afr.com/business/banking-and-finance/liar-loans-hit-500b-mortgagors-are-more-stretched-than-banks-believe-ubs-20170911-gyew5j">Investment bank UBS estimated recently there are about $500 billion</a> "liar loans", which could cause problems when rates rise from record lows.
<a href="https://www.afr.com/business/banking-and-finance/banks-face-margin-squeeze-as-borrowers-forced-out-of-interestonly-loans-20171016-gz1ury">The tough new lending changes </a>from November 14 will apply to Westpac and Bank of Melbourne, BankSA and St George Bank.
</div>
</div>
<div>
"Westpac is committed to responsible lending and meeting our conduct obligations," a bank spokesman told Fairfax Media.
<div>
"The questions are designed to help understand your client's motivations and align the product to their requirements."
</div>
<div>
"The declarations are there to prompt [a mortgage broker] to explain the implications of product choice and their features so a client can make more informed decisions."
 Clients will even be quizzed on having dependents with special needs that might require long-term spending on care and treatment.
It will apply to eight types of loans including fixed interest, interest only, loans for refinancing and debt construction and mixed purpose.
</div>
</div>
</div>
<div>Questions will cover clients' foreseeable changes, but also special circumstances, such as those approaching retirement age during the loan term.</div>
</body></html>

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News