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><div class="page" title="Page 27">
<div class="section">
<div class="layoutArea">
<div class="column">
First home buyers, downsizers and families looking to upgrade have all been active in the property market as well as those who are new to Canberra, according to the valuation firm Herron Todd White.
First home buyers have affordable detached housing options in the outer suburbs of Belconnen and Tuggeranong, while Gungahlin provides newer detached housing at more of a premium.
"Alternatively, there are affordable unit options available throughout the Canberra region with new developments being completed in the city and town centres," HTW added.
There is also a large supply of older units close to the city and in the suburbs that would be suitably priced for first home buyers, the report advised.
The strong detached housing market has forced most first home buyers to look to apartments to climb onto the property ladder.
New Canberra residents have been active mainly in the Gungahlin market where they can buy new homes in a newly established suburb.
"Demand has been very strong from these buyers with land selling at a similar rate per square meter to land in established inner suburbs.
"This demographic has also been active in the new apartment market especially dwellings in close proximity to universities and town centres," HTW said.
<div class="page" title="Page 28">
<div class="section">
<div class="layoutArea">
<div class="column">
 
</div>
</div>
</div>
</div>
 
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Canberra first home buyers have been active: HTW

<html><body><div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
Although we have seen considerable activity from investors over recent years, owner-occupiers still make a sizeable sector of the Coffs Harbour market, according to valuers, Herron Todd White.
"When you consider that there are first home buyers, trade up or down buyers and retirees all looking to secure properties, there is no one size fits all in relation to property, the firms latest report suggested.
 It is difficult to pigeon hole what each buyer profile looks like or the attributes sought after in a property. 
"The forst home buyer conjures up images of the young twenty something purchaser when in fact we are seeing the thirty or forty something age bracket also trying to get off the rental treadmill.
"The younger generation seems to be attracted to the shiny new product whist the older group looks towards an older home," HTW noted.
As property prices continue to strengthen, new product is becoming less affordable and it is becoming increasingly difficult to find a house under $500,000.
The trend is to go to unit product (townhouse or villa) or further a field to the smaller townships in the more affordable price range of under $500,000.
The Coffs Coast has an ample range of property priced under $350,000 so long as buyers are prepared to look at the older units in central Coffs Harbour or homes further a field in the lesser known townships such as Nambucca Heads, Macksville and Grafton. 
</div>
<div class="column">
The trade up or down buyers are diverse in their requirements and will generally be attracted to areas which suit their lifestyle depending on age and family needs. 
Downsizers typically look toward the unit and small lot properties. 
"We have seen an increase in unit development within Coffs Harbour generally centred on the Jetty precinct and Park Beach areas. 
"These two areas are only two kilometres apart however miles apart in value. 
"The more affluent downsizer looks toward the Jetty precinct close to the harbor and CBD with local restaurant and tourist facilities."
 The average price for modern units is $500,000 to $800,000.
Park Beach although having similar attributes of a good beach and shopping facilities has a more modest unit price range of $370,000 to $600,000 for modern units.
HTW noted highway upgrades north and south of Coffs Harbour have reduced travel times making commuting easier which has attracted many potential home purchasers to more fringe beachside localities such as Corindi Beach to the north, being popular with commuters from both Coffs Harbour and Grafton, and Nambucca Heads to the south where property prices are considerably more affordable in the $300,000 to $400,000 price range.
</div>
</div>
</div>
</div></body></html>

Coffs Harbour first home buyers are likely to be 30 or older: HTW

<html><body>
Justin Hemmes now has so many hotel venues, he's gone out and spent $8.95 million on kitchen premises at Marrickville to supply them all.
His hotel acquisition trail has intensified over recent months and years.
Justin Hemmes, who has been Merivale CEO since 1997, has spent $175 in the past three years, his biggest outlay The Newport which cost $46 million.
The Merivale group owns a growing portfolio of more than 65 restaurants, bars, pubs and hotels across Sydney.
The proposed kitchen space is just around the corner from Vic on the Park in Marrickville, his most recent purchase which cost around $20 million.
In the immediate vicinity are the Merivale owned Tennyson Pub in Mascot, the Queens Hotel in Enmore and the nearby Vic on the Park.
LJ Hooker Commercial Sydney City Fringe agent Jim Marinos sold the kitchen space property that last had traded for $2.75 million in 2010.
He sold the building at public auction, but Hemmes wasn't in attendance.
His empire includes the Coogee Pavilion, The Newport Arms Hotel and The Beresford.
Hemmes trading in the commercial space has always taken priority over his residential holdings, but that's seen some acquisitions too.
All on or close to the water.
Last year he expanded his holdings in the small hamlet of Berrara, down near Jervis Bay.
He has spent over $11 million on property in the area, dating back to his first $665,000 purchase in 2006.
Hemmes also has a 60 hectare rural retreat further down the south coast, the $7.5 million Glasshouse Rocks estate retreat at Narooma.
His Pittwater waterfront acquisition came last year when he bought the waterfront of one of Australia’s most distinguished production designers, Laurence Eastwood.
His family home is the harbourside Vaucluse mansion, The Hermitage.
The Hermitage was built in the Victorian Rustic Gothic style and is one of the earliest mansions in Sydney's east.
Hemmes grew up in the home that belonged to his parents, mother Merivale, his late father late John Hemmes and his sister Bettina.
His most recent move was to submit plans for a sunroom pavilion.
Landscaper Michael Bates recently undertook a makeover for The Hermitage garden, which he dubs an entertainer’s garden. The garden comes complete with an outside bathtub, and the de rigour fire pit too.
This article was first published in the Saturday Daily Telegraph.
 
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Hotelier Justin Hemmes secures commercial kitchen to services his venues

<html><body>
The freehold site of Darlinghurst’s Victoria Road institution, the Tropicana Caffe has been listed for sale.
It has been listed by the long-time owners Sergio Tezzo and George Semaan.
Tonci Farac, the former creator and owner of the Wildfire Restaurant in Circular Quay, and manager Duncan Thompson, have recently taken a 10-year lease on the site, with options extending to 2047.
LJ Hooker Commercial Sydney’s Steven Kruyer and James Griffiths <a href="https://sydney.ljhcommercial.com.au/retail-in-darlinghurst-nsw-2010-au-cu9hkr?search=%2fsearch%2fcommercial-property-for-sale-in-darlinghurst-nsw-2010-au%2fpage-1%3fsurrounding%3dtrue#.WffEABOCyfQ" target="_blank">have the listing</a> of the 284 square metre dining space, which comes with 110 square metres of storage and two secure car spaces.
<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/2017/10/31/Trop2.jpg" alt="">
The lease generates more than $285,000 in annual rent. LJ Hooker Commercial will auction the Tropicana Caffe building on November 30. 
It has been on the foodie scene for almost four decades.
The new tenants have advised they did not intend to rebrand or dramatically reinvent the Tropicana.
 
</body></html>

Freehold site of Darlinghurst's Tropicana Caffe for sale

<html><body>
The QBE Australian Housing Outlook Report has added weight to other forecasts of a strong market in Canberra next year and beyond.
Its growth forecast for Canberra over the next three years is the highest among the state and territory capital cities.
The Housing Boom and Bust Report by SQM’s Louis Christopher also has a bullish prediction for Canberra. It suggests dwelling values in Canberra will increase by up to 9% in 2018. The only capital cities tipped to do better are Hobart and Melbourne, with Sydney growth waning. 
This follows a strong period for the Canberra market over the past 12 months, although it’s difficult to know exactly how much house prices have increased. 
The latest figures on price growth in Canberra show how difficult it is for consumers to make sense of the price data published in mainstream media. CoreLogic says Canberra house values are up 9% in the past 12 months, but Domain says 10.5% and SQM Research records a rise of 16%. 
In the apartment market, SQM says Canberra is up 7%, CoreLogic says just 3% and Domain reports a small decline in prices. It’s difficult for consumers to get any direction from such conflicting information. 
My assessment - based on all available data including sales volumes, vacancies and rental growth figures - is that the ACT housing market is strong and rising, but the unit market is less bullish, having been through a period of oversupply in the recent past. 
The quarterly surveys of sales by Hotspotting show that the Canberra market has been upwardly-mobile for the past two years and this is now showing up in price growth data for the housing market.
Meanwhile the QBE report, which is fairly cautious and conservative in its overall predictions for the next three years, has Canberra leading on price growth up to 2020.
“With Federal Government employment being the key driver of economic growth, the outlook for Canberra will be closely linked with public sector employment growth,” it says. “Conditions in the house market are expected to remain largely positive, driven by population growth, an under-supply of houses and strong employment prospects. 
“The median house price in Canberra is forecast to increase a cumulative 16% over the forecast period to $750,000 at June 2020. Canberra is forecast to have the strongest growing market of all the cities over this period.”
By way of background, it says: “Underlying demand for dwellings has been largely supported by population growth. The net interstate outflow has been shrinking over the past four years, with the 2016-17 period resulting in an estimated net inflow of 800 persons. The net overseas migration inflow has also increased to an estimated 2,200 over 2016-17 and appears to be largely related to growth in overseas students.
“The Australian Capital Territory unemployment rate is tightening, indicating an improvement in local economic conditions. At March 2017, unemployment was 3.7% compared to 4.5% in December 2015. Improved demand has led to a tighter vacancy rate of 1.3% in June 2017.”
The report’s comments reinforce my viewsabout the fundamental importance to property markets of events in the local economy, rather than national factors such as the level of interest rates.
Investors looking to capitalise on Canberra’s rising market should be focusing their attention in the north.
A regular feature of Hotspotting’s sales activity surveys is that the busiest markets in Canberra are in the northern suburbs. 
Our Spring survey for The Price Predictor Index confirms that, while there are now growth suburbs across the Canberra metropolitan area, the strongest precincts once again are the Belconnen and Gungahlin districts. 
Suburbs with rising markets in the Belconnen District include Florey, Flynn, Holt and Evatt. Buoyant markets in the Gungahlin precinct include Casey, Ngunnawal, Crace and Palmerston. 
The Inner North precinct is also solid, led by good sales activity in Lyneham and Ainslie. 
Overall, as I have often commented, the stand-out characteristic of Canberra is the steadiness of its performance. 
That, plus the low vacancies and the growth numbers now emerging (including with rentals), make the national capital increasingly appealing for investors. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
<a href="https://twitter.com/hotspotting" target="_blank">twitter.com/hotspotting</a>
</body></html>

terryryder-YECXbqmri2

Canberra forecasts strong next year and beyond: Terry Ryder

<html><body>
Hi Margaret,
I converted my main residence to a rental property and bought a house to live and then sold the old/rented property. The property was my principal home, built in 2009 and I occupied it from 2009 to 2015. I then rented and sold it with settlement in 2017 February. 
When calculating capital gains tax (CGT) for my old property, can I add unclaimed interest and rates  to the market valuation I got from when it first started producing income? 
For rental schedule can I include interest up to settlement date, even though the rental contract ended?
Thanks,
Todd
 
Hi Todd, 
When a former family home is subsequently rented out, there are specific rules around the subsequent capital gains tax treatment which will now apply to you.
If you do not wish to claim your principal place of residence on any other property, you can employ the absence rule which allows you to rent that property out for up to six years and, if you either sell it or move back into it within that time, you still don’t accrue a capital gains tax responsibility.
In your case, you may decide to shift that exemption to the new home you bought from the date you moved in, in which case there will be a small CGT liability for you.  Assuming you have a valuation from the date you moved out, you can reset the cost base to being that market valuation, and CGT will apply to any gain made since that time.  As your contract date is December 2016, it will qualify for the over 12 months hold period for the discount, and so the gain will be halved and then CGT applies according to your marginal rate of tax, on that amount.
You ask if you can add any unclaimed interest and rates which occurred while you lived in the property to the market valuation.  The answer to this question is no – as it was a principal place of residence, and these items have no benefits attached.  The market value is the cost base, and it is only any expense incurred after the property becomes income producing which become allowable deductions.
As for the interest, costs associated with owning a rental property can only be claimed as a yearly deduction when the property in question is ‘available’ for rent, and your property ceased being available when the rental contract ended.  However, you may be able to account for this interest in the calculations for assessing the amount of gain – essentially they may become an addition to that cost base.  It’s important that you chat to your accountant about this, as they are qualified to know all of these little nuances of property tax law, and can guide you to ensure that your tax return is prepared legally.
Kind regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

mlomas-KC9MUPZ6Ca

Ask Margaret: How do I calculate capital gains on the former family home?

<html><body>
GUEST OBSERVER
The Reserve Bank of Australia should have a board member whose job it is to “represent the poor”, says Catholic Social Services Australia in a report released this week.
This hasn’t been tried before but it’s an interesting proposal and worth considering – particularly as recent central banking programs like quantitative easing have inflated the value of assets belonging to the very rich, exacerbating inequality and even threatening democracy.
The report is part of a continued effort by Catholic Social Services Australia to draw attention to those disenfranchised by an increasingly winner-takes-all society.
In fact, the entire notion of “trickle-down economics”, in which poorer sections of society supposedly benefit from policies that help the rich, is increasingly disputed.
Central bankers overlook inequality
Central bankers historically have not considered economic equality to be a key concern, and have been described (somewhat generously) as “innocent bystanders”. This does not really make sense, as central bank policies have statistically significant impacts on aspects of inequality including household income and consumption.
Central bankers tend to have a narrow focus, restricted to managing a small set of macroeconomic variables, and inflation in particular (which they refer to as “price stability”). Unfortunately, even after the global financial crisis, many central banks have continued to focus on inflation at the expense of a more complex economic picture, including inequality.
Central bankers are also very conscious of the need to maintain credibility. This involves presenting the board of a central bank as a group of “experts” with a long-term economic focus. Their expertise tends to be heavily tilted towards traditional economics, and they are influenced by traditional economic ideologies that do not emphasise inequality.
For example, central bank policies that focus on inflation and economic output (GDP) are limited by the fact that they do not capture the nature of unequal social conditions.
As we can see from the minutes of central bank board meetings, members do disagree and present dissenting views. However, having a representative for the poor on the board would challenge the general consensus in a new way.
A seat for the poor
In arguing for a “seat for the poor” there are several elements that need to be unpacked.
The first is the question of central bank accountability. Having a seat for the poor means that there would be a person on the board constantly questioning and challenging the other members. This is known as horizontal accountability because it is a type of oversight among equals.
As central banking involves involves deliberation among policymakers of equal rank, horizontal accountability can be an effective way for them to regularly check one another’s actions. If an “ambassador of the poor” regularly questions other board members it could keep them on their toes even if it doesn’t always sway their decisions.
The next question is around the tools and metrics that a board member representing the poor would use to present dissenting views. If the board member draws on the usual metrics that central bankers monitor, such as labor market figures and general price levels, they might arrive at similar viewpoints to their peers.
On the other hand, if this board member used metrics centered on inequality, it could be extremely beneficial to the deliberations and help to realign policy. These metrics could include income distribution, savings behaviour, welfare dependency, and socioeconomic variables - including healthcare and education outcomes.
How would we pick a representative of the poor? How would this person display and maintain their professional credibility? How would they juggle broader macroeconomic concerns with their own ideological inclinations?
The idea that a person appointed by the church should intercede in deliberations over monetary policy is antiquated at best. So the mechanisms for appointing such a person need to be carefully addressed.
Where the poor really need representation
The past few years have shown that central bank policy has a large impact on inequality. If anything, in Western countries it has made inequality much worse, as the benefits of stimulus programs have disproportionately gone to the very richest.
But it is actually fiscal policy (otherwise known as government taxation and spending), and not central bank policy, that is the best tool for addressing inequality.
This is because decisions on taxation and payments are a more direct method for addressing inequality. Progressive programs such as basic incomes, universal healthcare and public education directly impact peoples’ lived experience.
If anything, it is fiscal policy that most needs a “representative of the poor”.
Fiscal policy is so abjectly political and so deeply entrenched that a “depoliticized” fiscal regime only exists in the fantasies of academics (my own included).
<img src="https://counter.theconversation.com/content/85992/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Nevertheless, if we want to make a real dent in inequality, it is only possible when fiscal policy is fully committed as well.
Usman W. Chohan is an economist at UNSW.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/should-central-banks-have-a-representative-of-the-poor-85992" target="_blank">original article</a>.
</body></html>

Should central banks have a 'representative of the poor'?: Usman W. Chohan

<html><body>
Australian home buyers spend an average of $1,618 on the cost of physically moving home, equating to $863 million a year, says a recent ING research.
The average total cost of moving was based on 1.6 million households moving in the last three years. 
Relocation costs includes the cost of packaging, removalists, cleaning and reconnecting utilities.
Half (50%) of Australian home buyers do not budget for costs associated with moving, while 48% said they spend over their estimated budget, according to ING’s Cost of Moving Home report.
The research was conducted by Galaxy Research on behalf of ING in September 2017 with a sample of 602 Australians aged 18-64 years, distributed across Australia. 
“When saving to move home it’s important to put aside some money for the actual move itself. Our research shows many Aussie home buyers are left empty handed by the unexpected costs of moving from one home to another,” said Tim Newman, ING’s head of product. 
The costs extend to other areas as well. Nearly 3.24 million working days in total are lost every year from homebuyers taking time off work to pack, move and unpack, the report said.
More than half (59%) of Australian home buyers said they took time off work to move, with the average amount of leave taken per person being 3.5 days. 
Many (53%) of the respondents were frustrated with the extra costs associated with moving home. 
Top of the list was ‘the extra trips you have to make to get things’ (33%). Following this, ‘when things are broken or scratched’ (24%), ‘extra removalist fees’ (13%) and ‘insurance costs’ (8%). 
Newman suggested that the cost of moving homes could be reduced by almost $1,000 if home owners chose the DIY approach. 
“While the average cost of moving is $1,618, if you are willing and able to move without a removalist, the cost is significantly less: an average of $624 according to our report.” 
Home buyers can also recoup money spent on the cost of moving by looking at other ways to save when it comes to the costs associated with their property. 
According to research on switching by ING, Australians who switched their home loan provider within the last two years made an average annual saving of $1,073 per household per year. 
“Home owners might want to look at switching their home loan to get a better deal, particularly when they move, considering the savings that can be made,” said Newman. 
“When this saving ($1,073) is offset against the average cost of moving home ($1,618), home buyers can effectively recoup quite a significant proportion of the cash spent on moving fees.” 
Newman’s top three tips for saving costs on moving homes are: 
<ol>
<li>DIY – Save on the cost of moving home by doing it yourself. The average cost of moving independently is $624, compared to the cost of having a removalist do everything – that’s pack, move and unpack – which comes in at an average cost of $3,655. 
</li>
<li>Consider switching your home loan to recoup expenses – Aussies who switched their mortgage in the last two years have, on average, saved more than $1,000. If you have a home loan, it is worth considering your options.  
</li>
<li>Have a garage sale – Moving presents the perfect opportunity to spring clean your belongings. Organise a garage sale to sell any unwanted items before you move, reducing the amount of items to be packed, as well as offering the chance to recoup some cash ahead of those unexpected moving costs.</li>
</ol>
The research was conducted by Galaxy Research on behalf of ING in September 2017 with an online permission-based panel.  
</body></html>

prateek24-ezbwHMbNAk

Aussie home buyers spend an average $1,618 on relocation: ING  

<html><body>
GUEST OBSERVER
Smart cities promise efficiency and resilience in urban design to combat climate change, population growth, transport congestion and other wicked problems. The processes that run a city may be abstracted into algorithms that feed on big data, their design optimised for efficiency, commuting, work and other purposes.
This is a positive development for urban spaces, but does this approach overlook other human needs?
While research centres and urban designers are installing sensors, trackers and cameras on every street corner, game designers and artists are using a cornucopia of technologies to bring back an old idea – playing on the street. I have developed one such game for Melbourne International Games Week.
Everyone knows what play is, but as adults we often forget how to play or trivialise its significance. Play is a particular way of being, a different way of seeing the world.
The idea of play as pointless fun is challenged by the designers of serious games who remind us that it is fundamental to learning. We play with possibilities, see how something plays out – this allows us to explore alternative realities and to see familiar situations in a new way.
Play also creates social bonds, connection and community through these shared experiences. Play activates cities and engages people. It appropriates and takes over urban space, changing what it means to people.
Playful citizens can then see their town or city in a new way, feeling a new sense of connection, and sensing new ways it could be.
Not entirely a new idea
While children used to play routinely in cities before the age of digital distraction, adult play in cities is not entirely a new idea. The emergence of the modern city in the 1900s led to changes in how people engaged with and experienced public space in the form of promenading and other social play.
Last century, the playground was invented as a site designed for play. During the 1960s, the Situationists deployed play in cities as a strategy for subversion. And in the 1970s the New Games movement developed outdoor play as a community-building process.
More recently, the interventions into public space of playable cities have revitalised earlier strategies for urban play. Technology has enabled urban play to introduce new modes of engagement.
What is a playable city?
Play creates alternative ways of seeing the world. This involves not only changes in data, but changes in attitude and how we feel in cities. These are things that are harder to achieve with other design strategies in public spaces.
We all know what a game is – we are living in a time with the highest level of play literacy. Participation in games continues to rise, with 68% of Australians playing video games.
Play is often structured through technology. We may recognise that the city has rules, but those rules become changeable through an invitation to play. Games provide new rules of engagement.
Cities are in process, in flux. Although on the surface they are made of concrete, data, steel and glass, they are equally made of people and culture.
Rather than creating playgrounds for adults, playable cities transform spaces that adults already occupy into playful experiences.
A new creative platform
Playable cities appropriate smart cities infrastructure to engage people with their city and with one another. It’s a form of “hacking” urban space. Through a shared sense of community and ownership, visitors, residents and workers in playable cities may then become part of the conversation about urban design.
In this way, smart cities and playable cities may inform each other and provide a new creative platform for artists and designers. Developing encounters in a playable city blends disciplines such as urban design, public art and game development into a hybrid practice situated in urban space.
Technologies like augmented reality sit alongside live theatre, as players move between looking at the screen of their mobile to one another, observing the spaces of the city, or drifting through information architecture.
Invitations to be citizens of play
This approach recognises the multilayered nature of urban space, its complexity, possibilities and how these can be remapped into a playful experience. This happens through mobile phones, signs and ciphers hidden in laneways, large public screens and through the changes in the behaviour of players and the attitudes of those who watch them play.
Cities have always been melting pots of possibility, places that we go to rediscover ourselves - some of their major contributions to the cultural economy are community, connection and creativity.
If that sounds too utopian as we reach peak popularity in dystopian fiction, then perhaps all this play is simply training for the apocalypse – zombie survival runs are a popular genre in street games.
Playable cities do not delineate sites of play but blend this activity with the daily operation of the city itself. Sometimes it is overt, where player behaviour challenges existing rules and conventions of public space and, as a result, transforms the meaning of the site in question. More often than not it is covert, play in secret.
In this way, play persists in cities despite mass surveillance and urban alienation. It’s emerging in opposition to these as a coping strategy that draws attention to the many tensions in cities today: connection and alienation, actual and virtual, digital and analogue, public and private, civic and corporate. Come and join the big game.
Troy Innocent is City of Melbourne knowledge fellow 2017-18 and senior lecturer in games and interactivity at Swinburne University of Technology.
<img src="https://counter.theconversation.com/content/85756/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">You can experience Melbourne as a playable city with <a href="https://ludea.net/wayfinderlive/" target="_blank">Wayfinder Live 2017</a>, a mixed-reality mobile game that explores Melbourne’s laneways and streets to unlock a hidden city. The author developed Wayfinder for <a href="https://www.gamesweek.melbourne" target="_blank">Melbourne International Games Week</a>, Asia Pacific’s largest digital games festival, from October 22-29.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/bringing-back-an-old-idea-for-smart-cities-playing-on-the-street-85756" target="_blank">original article</a>.
Photo provided by author.
</body></html>

Bringing back an old idea – playing on the street: Troy Innocent 

<html><body>
Mortgagees have listed a three bedroom Merewether home on a 580 square metre block.
<a href="https://www.realestate.com.au/property-house-nsw-merewether-126721050" target="_blank">The original styled Henry Street property</a> is to be sold by November 22 auction.
It is currently configured as two separate tenancies and the listing agents say it will be "a solid returning investment".
It is located only short drive to beach.
"It could easily be renovated or suit complete redevelopment," the marketing said.
It last traded at $167,500 in 1999.
</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