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.

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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."

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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

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<div>The final auction clearance rates for last weekend have been released.</div>
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<div>They show Sydney's clearance rate begins with a '5' for the first time since late 2015, CoreLogic analyst Cameron Kusher noted.<a href="https://twitter.com/hashtag/ausbiz?src=hash" data-query-source="hashtag_click"> </a>
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<div>Sydney's revised success rate was put at 58.3 percent.</div>
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<div>Canberra edged ahead of Melbourne which is still above 70 percent.</div>
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j.ballantyne1990-6AQqhLzZaK

Sydney's spring clearance rate slips into the 50s, while Canberra soars

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Just 220 auctions are scheduled for this weekend in Melbourne, according to the REIV.
Craigieburn is the busiest location with seven auctions.
Its offering include a <a href="https://www.realestate.com.au/property-house-vic-craigieburn-126608662" target="_blank">four bedroom house</a> (above) with $500,000 to $550,000 hopes.
A clearance rate of 73 per cent was recorded last weekend compared to 74 per cent prior weekend and 78 per cent this weekend last year. 
There were 1,788 auctions reported to the REIV, with 1,300 selling and 488 being passed in, 226 of those on a vendor bid.
The REIV collected 95% of auction results last week with a total of 1,860 results including 43 withdrawn and 29 postponed.
 
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Craigieburn tops subdued Melbourne auction weekend

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Research analyst Cameron Kusher noted that as housing market conditions transition, stock levels remain tight across the strongest markets but are rising in areas where housing market conditions are softening.
For this analysis, Mr Kusher measured the amount of advertised stock on 280,000 the market on a rolling 28 day basis. He said, “Advertised stock levels provide a unique count, meaning that listings are matched to properties and when a property is advertised in more than one place it is only counted once.”
“It’s important to note that typically these counts are more reflective of the 230,000 established housing market rather than off-the-plan where stock often isn’t 220,000 individually advertised.”
• Across the nation CoreLogic is currently tracking 226,007 properties advertised for sale which is 5.3% lower than a year ago and well down on 2012 levels at this time of the year for the past five years.
• Across the combined capital cities, total stock advertised for sale is 1.0% 40,000 higher than it was a year ago with 110,909 properties advertised over the past 28 days. Looking at stock at this time of year across the combined capital cities there is more stock currently for sale than there has been each year since 2013.
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Mr Kusher said, “By comparing capital city and national data it indicates that the amount of stock for sale in the regional markets is substantially 20,000 lower than it has been over recent years.
The combined regional markets account for 50.9% of total listings, its lowest proportion of national listings 15,000 since December 2011.”
Across the individual capital cities the data varies quite substantially.
• Sydney – currently has 25,625 properties advertised for sale which is 19.5% higher than a year ago. In comparison to the same time over recent years, the amount of stock on the market is now higher than each of the past four years. 25,000
• Melbourne – with 30,570 properties advertised for sale stock levels are - 1.7% lower than a year ago. The volume of stock for sale is lower for this time of year than any of the past 5 years.
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• Brisbane – the number of properties advertised for sale is 2.5% higher than a year ago with 20,611 properties currently on the market.
Compared to this time of year over the past five years, listings are at their highest level since 2012 however, they are - 15.2% lower than 2012 levels.
• Adelaide – with 8,794 properties for sale, listings are 8.0% higher than a year ago and at their highest levels for this time of year since 2013 although they are -7.7% lower than 2013 levels.
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• Perth – the 20,309 properties for sale in Perth is -14.3% lower than a 24,000 year ago however, it is also 1.6% higher than volumes at this time of year two years ago.
• Hobart – with 1,157 properties for sale across the city the volume of stock for sale -33.6% lower than a year ago and at its lowest level over 18,000 each of the past five years. In fact Hobart stock for sale is -54.7% lower than it was two years ago.
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• Darwin – the 1,581 properties advertised for sale is -1.9% lower than a year ago however, stock levels remain elevated. In fact stock for sale is 73.0% higher than it was in 2012.
• Canberra – the 2,262 properties advertised for sale currently is 14.4% more than there were a year ago. The number of properties for sale is up on 2015 and 2016 levels.
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Mr Kusher found that listings trends vary significantly across the country.
As an example, Hobart, which is the housing market with the strongest value growth has seen a dramatic fall in listings over recent years.
Meanwhile, values have fallen over the year in Perth and Darwin and each of these cities is seeing heightened stock levels.
Sydney has seen a rapid slowdown in growth over recent months and at the same time the volume of stock for sale has increased relative to recent 600 years.
In Melbourne, value growth remains relatively strong (although it has slowed a little) and the volume of stock for sale remains lower than over recent years.
Mr Kusher’s findings highlight that the stock for sale (supply) does have a fairly significant impact on the change in dwelling values. He said, “As stock increases, growth slows and as stock falls growth has accelerated.”
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jonathanchancellor-7SQnKwU6yx

Spring listings surge where housing is softening: CoreLogic's weekend auction preview

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The Reserve Bank is set to leave interest rates unchanged again when it meets next Tuesday, according to an analysis of 23 leading economic indicators.
Comparison website <a href="https://ratecity.com.au/" target="_blank">RateCity.com.au</a>’s ‘Rate Forecaster’ found that 21 of the 23 indicators suggested the RBA would leave the official cash rate at a record-low 1.50 per cent, where it has been since August 2016.
It’s now been seven years since the Reserve Bank lifted the official cash rate.
RateCity money editor Sally Tindall said it is unlikely the RBA will hike rates anytime soon.
“It’s incredible to think there is a now a large number of first home buyers who’ve never experienced a rate hike. Seven years is a long time between increases.
“However, when the RBA meets on Tuesday there is currently no strong case to move official interest rates.
RateCity’s analysis of official data shows there has been little change in GDP, unemployment, construction, auction clearance rates and retail sales figures.
“Lower than expected inflation figures and wage growth stalling at just 1.9 per cent provide an argument for the Reserve to cut rates, but that’s unlikely.
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“The RBA will also be concerned Australia’s household debt-to-income level increased from 190.0 per cent to a record 193.7 per cent in the last quarter – a worrying trend that that leaves them in a difficult position.
“If they hike rates, they will risk sending thousands of Australians into financial hardship. Conversely, if they lower rates, it will encourage others to take on more debt.
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“In short, it’s hands are tied until wages growth, and the broader economy, strengthen.
“Until then, home owners can rest easy in the knowledge that their mortgage repayments won’t be increasing anytime soon,” said Tindall.
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RBA’s seven-year itch: the growing number of Australians who’ve never experienced a rate hike

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GUEST OBSERVER
The CoreLogic home value index held flat in October taking annual growth to 7%, an abrupt slowdown from the 11.4% peak in May.
Policy measures continue to have a material impact. Although official rates remain near historic lows, regulators introduced a new round of 'macro prudential' tightening measures in late March.
Meanwhile a range of other changes have also seen a progressive tightening of conditions facing foreign buyers.
The CoreLogic indexes were overhauled in August and now provide a much better guide to price changes.
Whereas previously it would take three to six months and/or multiple measures to confirm a market shift, the new series appear to give much cleaner signals month to month and are now the clear 'benchmark' for Australian dwelling prices.
For October, the signals are unambiguously soft. Our estimates suggest the last three months have seen a small dip declining at about a 0.9% annual pace in seasonally adjusted terms (note that the Aug-Sep-Oct period typically sees some firming in prices as the spring selling period begins).
Sydney continues to record the sharpest turnaround in conditions, annual price growth slowing to 7.7% in October, essentially halving since July. Melbourne continues to see a much milder turn with price growth still tracking at 11%.
Price growth remains steady but more subdued elsewhere; tracking at 2.7% in Brisbane; and 4.6% in Adelaide with price continuing so slip lower in Perth (–2.5%).
The houses vs units breakdown shows a more pronounced slowdown for houses with annual price growth slowing to 7.2% from 12.4% in May.
Our monthly seasonally adjusted estimates suggest prices have been declining at about a 2% annualised pace over the last three months.
Unit price growth has been more stable throughout, lower through the peak and with a milder slowdown – annual price growth 6.5% down only slightly since the 8.5% peak in July and momentum holding in positive territory over the last three months. 
Notably, the detail suggests the pace of unit price declines in Brisbane and Perth is moderating while price growth in Melbourne units has shown essentially no slowing to date.
The slowdown is likely to carry through to year end. However, the next few months will be a critical gauge of whether markets are starting to stabilise.
To date, the timeliest market measures – buyer sentiment, auction clearance rates and prices – are showing few signs of levelling out. However, some of the pressure from macro-prudential measures may ease off a little.
Click here to read the <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2017/October/er20171101BullDwellPricesOct.pdf" target="_blank">full report</a>.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Matthew_Hassan-HHWHptmrw4

Home values flat in October: Westpac's Matt Hassan

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GUEST OBSERVER
Parking may seem like a “pedestrian” topic (pun intended). However, parking is of increasing importance in metropolitan areas worldwide. On average, motor vehicles are parked 95% of the time. Yet most transport analysis focuses on vehicles when they are moving.
Substantial amounts of land and buildings are set aside to accommodate “immobile” vehicles. In Australia, Brisbane provides 25,633 parking spaces in the CBD, Sydney 28,939 and Melbourne 41,687. In high-demand areas, car parks can cost far more than the vehicle itself.
However, parking is not just an Australian problem. By some estimates, 30,000 square kilometres of land is devoted to parking in Europe and 27,000 km² in the US. This parking takes up a large part of city space, much of it highly valued, centrally located land.
Traditionally, transport planners believed that generous parking allocations provided substantial benefits to users. In reality, excessive parking is known to adversely affect both transport and land use. These impacts, along with recent land-use, socioeconomic and technological trends, are prompting cities to start asking some important questions about parking.
Australian planners must engage with emerging trends to help cities work out the best way to reclaim and repurpose parking space in ways that enhance efficiency and liveability while minimising disruption.
Here we chart likely challenges and opportunities created by these trends over coming decades.
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Key trends affecting parking space in cities. Diagram by authors
Land use
All Australian cities have policies to encourage densification, consolidation and infill development in their centres. In conjunction, some cities are setting maximum limits on parking to prevent it taking over valuable inner-city properties.
Transit-oriented development (TOD) has also become popular, at least on paper. This is another form of urban consolidation around transit nodes and corridors. It is known to benefit from high-quality urban design, “walkability”, “cyclability” and a mix of functions.
These developments mean that people who live in CBDs, inner-ring suburbs and near public transport stops will use cars less. Consequently, demand for parking will decrease.
Some non-TOD suburbs are trying to replicate inner-city features as well. For example, some suburban shopping centres have introduced paid parking. This is a significant shift from previous eras, when malls guaranteed ample free parking.
Suburbanites who lack easy public transport access will continue to rely on cars. But rather than driving all the way to a CBD, commuters will increasingly opt for park-and-ride at suburban stations, thereby increasing demand for park-and-ride lots at public transport interchanges. However, excessive capacity might hurt rather than help patronage.
Social trends
In addition to land use, several social trends will affect the need for parking.
First, young people are delaying getting drivers’ licences because driving is culturally less important to them than in previous generations.
Second, people of all ages are moving from outer suburbs to inner cities. For many, this means less driving because walking, cycling and public transport are more convenient in inner cities.
Finally, the emergence of Uber, Lyft and vehicle-sharing arrangements means that people are not buying cars. Research suggests that each car-sharing vehicle removes nine to 13 individually owned vehicles from the road.
Together, these trends point to a reduced need for parking because there will be fewer cars overall.
Technology
The importance of technology in parking is rising – paving the way for “smarter” parking.
The emergence of a host of smartphone apps, such as ParkMe, Kerb, ParkHound and ParkWhiz, has begun to reshape the parking landscape. For the first time, users can identify and reserve parking according to price and location before starting their journeys.
Apps also make available a host of car parks that previously went unused – such as spaces in a residential driveway. This is because there was no mechanism for letting people know these were available.
In addition, smart pricing programs, such as SFPark in San Francisco, periodically adjust meter and garage pricing to match demand. This encourages drivers to park in underused areas and garages and reduces demand in overused areas.
The advent of autonomous vehicles promises to have dramatic impacts on transport and land use, including parking.
According to one school of thought, mobility services will own most autonomous vehicles, rather than individuals, due to insurance and liability issues. If this happens, far fewer vehicles and parking spaces will be needed as most will be “in motion” rather than parked most of the time.
More space for people and places
The next decade promises much change as emerging land-use, socioeconomic and technological trends reshape the need for, and use of, parking. Cities will devote less space to parking and more space to people and places.
Parking lanes will likely be repurposed as cycling lanes, shared streets, parklets, community gardens and even housing. Concrete parking lots, and faceless garages will likely be converted to much-needed residential, commercial and light industrial use.
<img src="https://counter.theconversation.com/content/85331/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">By transforming parking, much urban land can turn from wasteland into vibrant activity space.
Dorina Pojani, Lecturer in Urban Planning, The University of Queensland. 
Iderlina Mateo-Babiano, Senior Lecturer in Urban Planning, University of Melbourne.
Jonathan Corcoran, Professor, School of Earth and Environmental Sciences, The University of Queensland.
Neil Sipe, Professor of Urban and Regional Planning, The University of Queensland.<a href="https://theconversation.com/institutions/the-university-of-queensland-805"></a>
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/freeing-up-the-huge-areas-set-aside-for-parking-can-transform-our-cities-85331" target="_blank">original article</a>.
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Freeing up the huge areas set aside for parking can transform our cities

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GUEST OBSERVER
It’s pretty common nowadays to see the likes of the Reserve Bank of Australia or the Australian Bureau of Statistics issue warnings about the size of Australian household debt. The reason is that the consequences of poor financial decisions often reach far wider than an individual or family.
The global financial crisis showed us how rapidly financial contagion can spread - one person’s debt is another person’s asset, so when the debt is written off so is the asset. However, there has been little improvement in financial literacy in the wake of the financial crisis, the lack of which was one of the underlying causes.
For instance, surveys just prior to the global financial crisis revealed that many Americans taking out home loans either did not read their loan documents or did not understand them. This meant that, in many cases, they did not understand that they were signing teaser loans where the interest rate starts out very low but increases after a few years.
This lack of financial literacy combined with predatory lending caused the subprime loan crisis, the precursor to the full blown financial crisis.
What is financial literacy?
Financial literacy refers to the ability to make sound financial decisions based on knowledge, skills and attitudes, taking into account personal circumstances.
Low financial literacy is particularly concerning in home loans. In an alarming parallel to the United States before the financial crisis, roughly one third of interest-only mortgagees do not understand that their repayments make no inroads into their debt, and that their interest rates will jump considerably after the interest-only period of the loan has expired.
But it isn’t just that low financial literacy increases risk. It is also important for achieving a productive economy. Economic efficiency requires borrowers to not only have good information but to understand it. This allows them to weigh up the costs of borrowing with the benefits that they expect to receive.
If the information is distorted, either deliberately by lenders or through the misunderstanding of borrowers, they will miscalculate the benefits and capital in the economy will be misallocated. Economists call this market failure, a lot of which occurred in the housing market in the United States before the global financial crisis.
Financial literacy isn’t improving
Evidence suggests that financial literacy has not improved since the global financial crisis, and may have gotten worse.
A survey of adult financial literacy in Australia found that in 2014 the number of people who could actually recognise an investment was “too good to be true” - for example a financial asset promising to pay a return much higher than the going return on similar assets and for no greater risk - had actually declined, to 50% from 53% just three years earlier.
The survey also found that those who recognised that good investments (something with relatively low risk) may fluctuate in value fell to 67% from 74%.
But financial literacy education must also go hand in hand with general literacy and numeracy. The Productivity Commission found that 14% of the adult population had relatively low literacy skills in 2011-12. This is defined as being able to, at best, locate basic information from simple texts but being unable to evaluate truth claims or arguments.
The report also found 22% of the population had low numeracy skills, meaning that they can count, add and subtract and do other basic arithmetic. But they cannot understand statistical ideas, mathematical formula or analyse data.
In other words, a significant proportion of the Australian adult population are not equipped to understand the effect of an interest rate increase on their loan repayments, or understand a loan document that includes an interest rate increase after an initial period.
Fixing the problem of financial illiteracy cannot wait until people are in the throes of negotiating home loans and credit cards. And it should definitely take place before Australians resort to pay day loans.
This was the aim of the Australian Government’s National Financial Literacy Strategy, that ends this year. The strategy proposes a number of educational initiatives including embedding financial literacy in the school curriculum, a formal teacher training program, and development of educational resources and tools.
The strategy draws on similar steps that have been adopted by other countries and recommended by the Organisation for Economic Cooperation and Development (OECD).
The problem is that the curriculum is a crowded space. Financial literacy must compete with the latest fashions in school education as well as traditional curriculum content.
<img src="https://counter.theconversation.com/content/84695/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Fighting for curriculum space for financial literacy is a political exercise which governments must play hard. For example, by attaching serious funding to the achievement of financial literacy indicators at the school level, and training and certification for teachers. Increasing financial literacy isn’t just in the best interest of individuals, we all benefit from a more literate population.
Ross Guest is professor of economics and national senior teaching fellow at Griffith University.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/financial-literacy-is-a-public-policy-problem-84695" target="_blank">original article</a>.
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Financial literacy is a public policy problem: Ross Guest

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Poly Australia secured deposits on 30 of 67 apartments offered last weekend in Lindfield in their highly anticipated boutique development, Tilia by Poly.
The apartments in the heart of the north shore suburb were popular among local buyers, particularly downsizers, said Poly Australia sales and marketing director Jay Carter. 
“For a small scale luxury suburban development, there has been considerable interest," said Carter,
The three bedroom apartments at Tilia by Poly start at $1,630,000 and have sold well, he said.
<img src="https://polyglobal.com/wp-content/uploads/2017/10/IMG_3532-1024x683.jpg" alt="" width="640" height="427" data-lazy-loaded="true">
It is Poly Australia's third Sydney project, which will include a garden for exclusive use of residents.
The development is a mix of 67 apartments, including three townhouses designed by award winning PBD Architects.
Located on Milray Street and within a short walking distance from Lindfield Train Station, and surrounding cafes and restaurants, Tilia by Poly was offered by the newly launched Poly Agency.
<img src="https://polyglobal.com/wp-content/uploads/2017/08/Secret-Garden-Angle-4-Final_CYMK_LIGHTENED2.jpg" alt="" width="759" height="949" data-lazy-loaded="true">
Poly Australia has acquired a new site in the suburb of Kogarah in Sydney's south, with plans for a residential development of approximately 100 apartments.
The site was an amalgamation of six residential houses in the priority precinct of Kogarah North.
It recently celebrated the official topping out at Poly Horizon in Epping.
It has also lodged its development application for its site in Bankstown.
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Three bedroom units selling well at Tilia by Poly

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The Reserve Bank of Australia (RBA) released its Financial Aggregates figures for the month of September 2017, which revealed a softer month for credit growth ex-housing, with total credit growth still tracking at +5.4% over the year. 
Annual business credit growth is no more than ticking along (+4.3%), while personal credit remains in negative territory. 
Housing credit expanded by +6.6% over the year to September, actually a little faster than the +6.4% pace seen a year earlier, contrary to what you might think.
However, a closer inspection shows that the monthly rate of growth was +0.48% in seasonally adjusted terms, the slowest increase since March 2016, so lending constraints are gradually taking effect.
Total housing credit is now sitting at a tick under $1.7 trillion.
Still powering along for now then, although there has been a concerted push to get borrowers off interest-only products lately. 
<a href="https://4.bp.blogspot.com/-VyrolIM2qwM/WfiUErmafEI/AAAAAAAAmzQ/qJxnfgl2pGsGhtlVvAkW5Mc1SrihyYiVwCEwYBhgL/s1600/RBA.jpg"><img src="https://4.bp.blogspot.com/-VyrolIM2qwM/WfiUErmafEI/AAAAAAAAmzQ/qJxnfgl2pGsGhtlVvAkW5Mc1SrihyYiVwCEwYBhgL/s640/RBA.jpg" width="640" height="380" data-original-height="833" data-original-width="1400"></a>
The purpose of some $59 billion of loans has now been switched from investor to owner-occupier since July 2015.
The RBA data showed that after accounting for loan switching, the growth in investor credit slowed to +7.2%, with further declines almost certain to follow. 
Watch your speed
APRA also released its monthly ADI figures, which showed investor credit growth slowing to a crawl - implying that the non-banks have picked up some market share in this sector - with the total value of owner-occupier loans up by +0.48% in the month. 
None of the major banks is now even remotely close the 10% 'speed limit' or regulatory threshold for investment lending, with only Westpac of the main players still pushing this sector along. 
<a href="https://2.bp.blogspot.com/-Q1KGns0a0u4/Wfjbk122nmI/AAAAAAAAmzw/wMne730nv6QKoU4k3kOGWmAuv6DoPzvZQCLcBGAs/s1600/APRA.jpg"><img src="https://2.bp.blogspot.com/-Q1KGns0a0u4/Wfjbk122nmI/AAAAAAAAmzw/wMne730nv6QKoU4k3kOGWmAuv6DoPzvZQCLcBGAs/s640/APRA.jpg" width="640" height="386" data-original-height="827" data-original-width="1368"></a>
A number of the second-tier lenders, including Suncorp, Macquarie, and others, have significantly cut back their investment mortgage exposure, perhaps suggesting some regulatory pressure. 
The wrap
While total housing credit is still rising at a solid pace, investor lending is clearly being snipped back sharply.
With population growth now tracking at historically high levels <a href="https://petewargent.blogspot.co.uk/2017/09/population-growth" target="_blank">as I looked at here</a>, it remains to be seen whether rents begin to rise sharply in the two largest cities in 2018 (personally, I believe that this is likely, especially in Melbourne, though few appear to agree with me at this juncture). 
The major banks are now growing their investment loan books at way below the arbitrary 10% cap, so theoretically at least investor loans could begin to feature more prominently again next year, but this may need the regulator to remove its foot from lenders' throats.
New home sales plunge 
In other news, new home sales continued the decline begun in 2015 with another -6.1% drop in September 2017, according to Housing Industry Association (HIA) figures.
<a href="https://3.bp.blogspot.com/-sgUUszsRNUI/Wfjb5Uoa7AI/AAAAAAAAmz0/hivavx8-7-k1Cv8pYtl358qVwZSnONLdQCLcBGAs/s1600/HIA.jpg"><img src="https://3.bp.blogspot.com/-sgUUszsRNUI/Wfjb5Uoa7AI/AAAAAAAAmz0/hivavx8-7-k1Cv8pYtl358qVwZSnONLdQCLcBGAs/s640/HIA.jpg" width="640" height="404" data-original-height="461" data-original-width="727"></a>
The drop was driven by a significant -16.7% drop in multi-unit sales.
New home sales are a leading indicator for building approvals, and following the longest ever upturn in building there now comes the dwelling construction downturn. 
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RBA data shows the brakes on lending: Pete Wargent

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GUEST OBSERVER
Australian dwelling price growth is continuing to moderate with the recent CoreLogic data showing that home price growth across Australia has slowed to 7.0% over the year to October (annual price growth was running around 10-11% a few months ago). Sydney price growth is rolling over (see chart below). 
  <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/2017/11/2/Diana1.jpg" alt="">
Melbourne home price growth is also moderating, but at a slower pace than Sydney because population growth remains strong in Melbourne.
The latest population data showed that interstate migration remains very high into Victoria and Queensland (see chart below) which suggests that home buyers are seeking alternatives to Sydney given the general lack of home and land affordability.
 <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/2017/11/2/Diana2.jpg" alt=""> 
Home price growth is still negative in Perth, but is picking up pace and Hobart has seen a big turnaround in price growth.
The reasons for slowing prices at the moment are due to tighter lending restrictions on banks and higher mortgage rates to enforce APRA rules around investor lending, affordability pressures in Sydney and Melbourne and a big lift in new supply of dwellings (particularly apartments across the east coast).
These pressures are going to continue in the near-term, particularly with a further lift in new dwellings on the market.
So, national home price growth will remain under pressure, especially in Sydney and Melbourne where there is going to be a further big lift in new supply.
While it was necessary to take some steam out of the housing market given the high concentration of investors in the market, slower home price growth is a risk for the consumer spending outlook because households savings have been used up as wealth (related to housing) has boomed.
A rate hike from the Reserve Bank in the near-term would be undesirable as it would put further downward pressure on dwelling prices at a time when wages growth is still soft.
Diana Mousina is senior economist at AMP Capital.
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