<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.</p>

<p>The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.</p>

<p>Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" /></p>

<p>It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.</p>

<p>The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." /></p>

<p>Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.</p>

<p>&nbsp;</p>

<p>At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" /></p>

<p>The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.</p>

<p>The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.</p>

<p>The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" /></p>

<p>Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.</p>

<p>At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" /></p>

<p>The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.</p>

<p>Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.</p>

<p>The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" /></p>

<p>The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.</p>

<p>Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.</p>


Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.</p>

<p>The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.</p>

<p>“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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


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

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

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


Every First Home Owner Grant for new property by state

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


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

Staff Writer

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

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


alisonwarters@gmail.com

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

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


Ellen Walker

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

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<p>GUEST OBSERVATION</p>
<p>Young adults not only struggle to buy a home, many struggle to secure any kind of independent housing. This contributes to a cycle of living in precarious and informal housing and to a growing gap between their current situation and their short and longer-term housing aspirations.</p>
<p>A <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/318" target="_blank">report released today</a> by the Australian Housing and Urban Research Institute (<a href="https://www.ahuri.edu.au/about-us/who-we-are-and-what-we-do" target="_blank">AHURI</a>) adds nuance to debates about generational change and housing by examining how housing aspirations differ among emerging adults (18-24 years) and in early adulthood (25-34 years). For example, emerging adults are more likely than the older cohort to prefer living in an apartment.</p>
<p>By early adulthood, the housing aspirations gap is greatest for individuals in the private rental sector, particularly those on higher incomes, and narrowest for home owners. Home buyers on low to moderate incomes are most happy with their housing.</p>
<p>While long-held values around the ideal of home ownership prevail, these are not as persistent as for past generations. The ideal differs according to age, education and the quality and security of current living arrangements. But having somewhere safe and secure to call home was the top priority across all young adults.</p>
<p><strong>Aspirations change with stage of life</strong></p>
<p>An extended phase of dependence to semi-dependence shapes the housing aspirations of young adults. This involves either remaining in the family home or sharing with others.</p>
<p>In 2015-16, the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6503.0" target="_blank">ABS Survey of Income and Housing</a> revealed that only one in six (17%) young adults (18-24 years) lived independently. Two-thirds (66%) lived with parents. Around a third of young adults (25-34 years) are also opting to remain or move back with parents or live in shared housing.</p>
<p>While these living arrangements reflect concerns about housing affordability, they are also used as a strategy to pursue other aspirations, such as education.</p>
<p><strong>What do young adults want in their housing?</strong></p>
<p>The AHURI <a href="https://www.ahuri.edu.au/research/research-in-progress/ahuri-inquiries/evidence-based-policy-inquiry-51170" target="_blank">research</a> includes a nationally representative survey of more than 2,400 Australians aged 18-34 years. It was supported by focus groups and in-depth interviews, including with Indigenous Australians, in Western Australia, New South Wales and Victoria.</p>
<p>Home ownership was the ideal tenure for 60% of emerging adults (18-24). By early adulthood (25-34) the proportion had climbed to 70%. The ideal of home ownership was lower (61%) for those still living in the family home by early adulthood compared with higher-income couples living independently (80%).</p>
<p>By early adulthood, educational status becomes a key marker of whether home ownership is considered possible. Nearly two-thirds (61%) of households with a tertiary-educated member believed they could buy a house within five years. This compares with just over a third of those with an education to year 12 (36%) and less than a quarter (23%) of those with an education to year 11 or below.</p>
<p>The preference for apartment living falls with age. About a third (34%) of emerging adults reported this as their ideal, compared with 21% of early adults.</p>
<p>Young adults also want more space. The largest share of both emerging (32%) and early adults (43%) indicated that a four-bedroom house is ideal. This compares to just 20% of those over 55 years of age who wanted four or more bedrooms.</p>
<p><strong>How large is the housing aspirations gap?</strong></p>
<p>For emerging adults (18-24), living in a group household typically met short-term (82%) but not longer-term (25%) aspirations. Similarly, living with parents mostly met short-term (76%) but not longer-term (30%) aspirations.</p>
<p><em><a href="https://images.theconversation.com/files/287454/original/file-20190809-144851-1h1mcvj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here </a>to enlarge: </em></p>
<p><a href="https://images.theconversation.com/files/287454/original/file-20190809-144851-1h1mcvj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/287454/original/file-20190809-144851-1h1mcvj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a></p>
<p><em>Australian Housing Aspirations Survey 2018, Author provided</em></p>
<p>By early adulthood (25-34) the housing aspirations gap is greatest for individuals in the private rental sector, particularly those on higher incomes. For higher-income groups, their current private rental housing met the short-term aspirations of just over three-quarters (76%) but only 20% for longer-term aspirations.</p>
<p>The aspirations gap is narrowest for home owners. Home buyers on low to moderate incomes were most happy with their housing in the short-term (92%) and longer-term (60%).</p>
<p><em><a href="https://images.theconversation.com/files/287457/original/file-20190809-144843-1v1u54g.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here</a> to enlarge: </em></p>
<p><a href="https://images.theconversation.com/files/287457/original/file-20190809-144843-1v1u54g.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/287457/original/file-20190809-144843-1v1u54g.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a></p>
<p><em>Housing Aspirations Survey 2018, Author provided</em></p>
<p><strong>What can be done to close the aspirations gap?</strong></p>
<p>Very few people are actively planning for their housing futures. Affordability and the deposit gap, insufficient income, employment insecurity and “waiting for the market to settle down” all impact on achieving longer-term aspirations. In the short-term, not being in a preferred location, high mobility and insecurity matter most.</p>
<p>Housing policy needs to become more realistic about the housing futures of young Australians. Achieving both short- and longer-term aspirations requires new policy frameworks that can enable young people to move towards attaining “secure independence”.</p>
<p>Public debate about the housing aspirations of young adults gained prominence during the federal election with <a href="https://theconversation.com/small-but-well-formed-the-new-home-deposit-scheme-will-help-and-its-unlikely-to-push-up-prices-117073" target="_blank">promises of a targeted scheme</a> to help first home buyers. Proposed first home owner deposit schemes are an important step in meeting aspirations, particularly among private renters with higher and secure incomes.</p>
<p>But before young people even contemplate home ownership they need greater support in making key life transitions, such as from education to work, via more continuous and integrated packages of housing assistance.</p>
<p>We also need continued reforms to ensure a fairer and more secure private rental sector with short and longer-term leasing options close to employment and training, and with stable rents.</p>
<p>There needs to be diversity and real choice in dwelling types, size and locations and scaling up of more sustainable and niche models of co-housing.</p>
<p>As for young people locked out of home ownership in the long-term, they need a way to build an investment nest egg and to access quality social and public rental housing.<img src="https://counter.theconversation.com/content/121431/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"></p>
<p><em><strong>Sharon Parkinson</strong>, Senior Research Fellow, Centre for Urban Transitions, Swinburne University of Technology</em></p>
<p><em><strong>Amity James</strong>, Senior Lecturer, School of Economics, Finance and Property, Curtin University</em></p>
<p><em><strong>Steven Rowley</strong>, Head of School, Economics, Finance and Property, Curtin University. Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University</em></p>
<p><em><strong>Wendy Stone</strong>, Associate Professor, Centre for Urban Transitions and Director, Australian Housing and Urban Research Institute Swinburne Research Centre, Swinburne University of Technology</em></p>
<p><em>This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/first-home-buyer-schemes-arent-enough-to-meet-young-adults-housing-aspirations-121431" target="_blank">original article</a>.</em></p>
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j.ballantyne1990-6AQqhLzZaK

First home buyer schemes aren’t enough to meet young adults’ housing aspirations

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>The national residential vacancy rate was stable at 2 per cent in March.</div>
<div> </div>
<div>This represents a slight decline from a year earlier, when the vacancy rate was 2.1 per cent.</div>
<div> </div>
<div>Only Melbourne and Hobart had higher vacancy rates than a year earlier. </div>
<div> </div>
<div>Given that properties need to be advertised for 3 weeks before being classified as vacant, there's more likely to be a jump in April as Airbnb operators and other short-term accommodation providers are forced to try more conventional routes for leasing their properties.</div>
<div> </div>
<div>The 6-month moving average by capital city is plotted below, not seasonally adjusted:</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-zJdu7a0K0QU/XpT_eswSm-I/AAAAAAAA1Og/-dMPxJ-RFect1lCV6nMdBke9TtLGEwfkwCNcBGAsYHQ/s640/SQM1.jpg" width="640" height="364" data-original-height="806" data-original-width="1414"></div>
<div> </div>
<div>With more short-term units hitting the market the median asking rental price was down in March.</div>
<div>
<br><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
</div>
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Residential vacancy rates down to 2 percent: Pete Wargent

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<p>One of the recent trends in real estate is more people moving from the big cities and buying in lifestyle areas within an hour or two of the city.</p>
<p>This movement has been enhanced by technology which allows people to work from home or by improved transport links.</p>
<p>I’ve described Regional Victoria as the strongest market in the nation over the past two years, based on data on sales activity and price growth in multiple locations.</p>
<p>And much of the uplift in markets within an hour or two of Melbourne – in the north, north-west and the south-east – has been driven by buyers out of Melbourne, both home-buyers and investors.</p>
<p>In the six months before the onset of the virus-induced restrictions, there had also been a notable increase in sales activity, with consequent positive impact on prices, in regional areas close to Sydney, including the Central Coast, the Southern Highlands and the Wollongong region.</p>
<p>I believe this trend will be further exacerbated by the current situation, which is forcing people to work from home.</p>
<p>Some will make it a permanent arrangement – and increasingly we are seeing media commentary to that effect.</p>
<p>An article last week in the Herald Sun in Melbourne said:</p>
<p>Many Melburnians will leave the city behind for regional Victoria during the coronavirus crisis, property experts say.</p>
<p>Agencies are reporting a “significant increase” in inquiries about regional properties from city dwellers “seeing the benefits” of working from home due to the COVID-19 lockdown, and keener than ever to escape the “madness” of Melbourne life.</p>
<p>Others are viewing the pandemic-impacted market as offering opportunity to get their feet on the property ladder in affordable areas.</p>
<p>A report from JLL says the COVID-19 quarantine policies have sent employees of all levels – from chief executives to junior staff – home with laptops to their kitchen tables.</p>
<p>“With this mass experiment under way, there is a belief among workplace experts that such set-ups could become more prevalent at companies large and small,” it says.</p>
<p>“Well beyond the peak of the crisis, corporate culture and, more than likely, the digital skills of global workforces, will have changed in significant ways. Location and working hours could become more flexible, leading to better productivity and improved work life balance for individuals.”</p>
<p>Gillian Rowbotham, human experience director – Australasia at JLL, says: “Given how suddenly everything changed, that tech has stood up pretty well, and people are mostly enjoying the flexibility to manage their day according to what needs to be done, I think we are inevitably entering a new dawn in the workplace experience.”</p>
<p>Interior architect Iva Durakovic suggests the success of working from home will mark the end of the office as we current know it, with remote working becoming the new norm.</p>
<p>The Associate Lecturer at UNSW Built Environment believes that remote working arrangements will continue long after the coronavirus pandemic has passed and will also change the nature of office spaces for the better.</p>
<p>"We already saw this idea of a distributed workforce getting stronger - and this will only accelerate it,” she says.</p>
<p>She says that widespread working from home is shaking up the role of the traditional workplace and highlighting what is truly valuable.</p>
<p>"It will break down what we need to come to a traditional workplace for, like face-to-face contact, and the way the future work environment looks. And it will be very different."</p>
<p>All of this has consequences for real estate. It provides another good reason for property investors to consider regional real estate, which offers greater affordability and higher rental yields than the big cities – and, if you choose your location well, good potential for capital growth.</p>
<p>We’ve seen excellent price growth in the past year or two, not only in Regional Victoria, but also in regional locations in NSW, Tasmania, South Australia and increasingly in Queensland.</p>
<p>TERRY RYDER is the founder of hotspotting.com.au</p>
<p><a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a></p>
<p>twitter.com/hotspotting</p>
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terryryder-YECXbqmri2

Regionalisation: The positive real estate trends exacerbated by COVID-19: HotSpotting's Terry Ryder

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<p class="post-title entry-title">EXPERT OBSERVER</p>
<p class="post-title entry-title">There are 3 key drivers of property prices.</p>
<div>
<strong>(i) Supply</strong> - the rate of construction and the properties listed for sale on the market;</div>
<div> </div>
<div>
<strong>(ii) Interest rates</strong> - the cost of borrowing; and</div>
<div> </div>
<div>
<strong>(iii) Population growth</strong> - immigration, natural population growth (births minus deaths), and interstate migration.</div>
<div> </div>
<div>Or, as depicted in his infographic:</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-JfAMyhsEwDU/XsC1SuAaGqI/AAAAAAAA1xE/oWHfOVu6Wt4Dg29nArHLDV26HjXIy8SaACNcBGAsYHQ/s640/FIN.jpg" width="640" height="360" data-original-height="445" data-original-width="791"></div>
<p class="post-body entry-content"> </p>
<div><em>Source: Tim Boyle, Finalytics</em></div>
<p class="post-body entry-content"> </p>
<div>People often state that the unemployment rate is critical, but this argument isn't backed up by any hard statistics.<br><br>In fact the last couple of times the unemployment rate spiked housing prices soared the following year, as pointed out by Stuart Wemyss of ProSolution, <em>Game of Mates</em> author Dr. Cameron Murray, and others:</div>
<p class="post-body entry-content"> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-mGeIhomU-Rw/XsDARe3SG3I/AAAAAAAA1xg/AF7pCtVj6yImNusAc2_soCsN-9f2dwlHQCNcBGAsYHQ/s640/A3.jpg" width="640" height="366" data-original-height="423" data-original-width="738"></div>
<p class="post-body entry-content"> </p>
<div>There's also an enormous fiscal stimulus washing through, comfortably dwarfing anything we've seen in recent decades. </div>
<p class="post-body entry-content"> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-SwOd64SloIQ/XsDAdNa9cVI/AAAAAAAA1xk/IA2iutyq4sE-ulOJVokqdP6KWZMNVqNCwCNcBGAsYHQ/s640/Stim.jpg" width="640" height="638" data-original-height="738" data-original-width="739"></div>
<p class="post-body entry-content"><br><strong>Boyle's 3 drivers today</strong><br><br>In that context, here's what's happening with Boyle's 3 key drivers today.<br><br>Supply is extremely tight at the moment.<br><br>Dwelling construction is plunging towards 70-year lows and vendors aren't listing either.<br><br><img src="https://1.bp.blogspot.com/-ituPSwbTdvU/XrNkMZcBltI/AAAAAAAA1lM/lSj4XGqL1Gcc-lP5wKWKzjVlXG5YWXJ-gCNcBGAsYHQ/s640/CL2.jpg" width="640" height="386"><br><br></p>
<div><em>Source: CoreLogic</em></div>
<p class="post-body entry-content"><br>Lending rates, meanwhile, are at the lowest level in modern history.<br><br><img src="https://1.bp.blogspot.com/-HHbGid402-g/XrNlXdwQxnI/AAAAAAAA1lc/Fd54mmUYX1kJWedMT-5JdHyEbCZFOZD3ACNcBGAsYHQ/s640/CL3.jpg" width="640" height="398"><br><br></p>
<div>This effectively allows borrowers to take on bigger mortgages, as I showed in my recent post on lending trends.<br><br>ANZ have just noted the same thing:<br><br><div class="separator"><img src="https://1.bp.blogspot.com/-bGysfQwD18o/XsDAo9GSxRI/AAAAAAAA1xs/Vx2-pm8vZHE32TUM-20dz-8UmDRRD4DyQCNcBGAsYHQ/s640/ANZ1.jpg" width="640" height="448" data-original-height="801" data-original-width="1143"></div>
<br>The big unknown factor at this stage is <strong>population growth.</strong>
</div>
<div> </div>
<div>My base case expectation or scenario is that within the next few months the powerful interests such as the Property Council, Australia's universities, the airlines, Tourism Australia, and big business at the top end of town will have forced the government's hand to reopen the borders, albeit with a period of enforced quarantine.</div>
<p class="post-body entry-content"> </p>
<div>As for the thesis that things will be totally different after COVID-19...well as a gallant but struggling home-schooler I reckon that's total garbage!<br><br>People can't wait to get back and out to spend, socialise, travel, go to work, and holiday again.</div>
<p class="post-body entry-content"><br>It's just the way we're designed, we're pack animals.<br><br></p>
<div class="separator"><img src="https://1.bp.blogspot.com/-r9TZrsC6zMw/XsC1SYxsobI/AAAAAAAA1xA/_k9XLZBNywgB_0ApBK_96zfH9-jzlSPNACNcBGAsYHQ/s640/JT.jpg" width="640" height="308" data-original-height="361" data-original-width="747"></div>
<div> </div>
<div>And moreover, Australia will likely be seen as one of the safest and most desirable countries on earth in which to live.</div>
<div>
<br><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
</div>
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pwargent-M4siyDbqQY

The three drivers of property prices: Pete Wargent

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<p>Off-the-plan buyers are understandably looking past the Coronavirus crisis.</p>
<p>The continued construction at apartment project work sites will bring on their completion close to their intended schedules.</p>
<p>It is one of the telling achievements of this time of pandemic.</p>
<p>Off the plan buyer interest continues too, abeit at reduced levels.</p>
<p>But the use of v<span>irtual property technology </span>has been key in off-the-plan projects enabling prospective buyers to see what their acquisition will provide.</p>
<p><span>With online tools like e-contracts, sales are being done.</span></p>
<p><span>Every day sales agents are also seeing potential buyers in their display suites, but digital tools are </span>assisting in a big way.</p>
<p>The sector’s embrace of digital tools, such as virtual inspections, amazing graphics and 3D, means buyers are able to see past the current uncertainty and make long-term decisions.</p>
<div id="outstream_holder_news">
<p>Customisation is an important offering these days.</p>
<p>Not only can buyers see what they are set to get upfront, they can also make selective changes to the floor plans so the property better suits their needs.</p>
<p>Some buyers may pick up two apartments and amalgamate them into a large three-bedroom apartment.</p>
<p>Others may turn a two-bedroom unit into a large one-bedroom apartment.</p>
<p>Most developers can offer buyers choices of finishes and a variety of upgrades.</p>
<p>A serious foodie might want the dream kitchen with the best appliances, stone bench tops and a pantry.</p>
<p>An asthmatic would probably opt for a timber or stone floor rather than carpet installation.</p>
<p>The current isolation will likely have long-lasting impact on the apartment design. Maybe it will see the installation of better functioning balconies. Some that are bigger, others that offer a Juliet-style garden patio.</p>
<p>Separate rooms being proposed rather than just open plan.</p>
<p>A real study - collaquallily known as Zoom rooms - not just a study nook in the hallway to provide picture-perfect, <span>acoustically sound</span> video conferencing opportunities.</p>
<p>Developers in their own isolation will be rethinking the ideal apartment interior.</p>
<p>Expect more inner city apartments that allow pets as they provide joy for their owners who can't all seek out<span> a sea or tree change.</span></p>
<p>Trendy architects are releasing that the apartment blocks of the 1920s got it right.  </p>
<p><span>When buying off the plan, buyers must rely on the reputation, honesty and goodwill of the developer which is why it's crucial to research the developer, their financial strength and capacity to deliver rectification after issues arises.</span></p>
<p><span>The economy ahead is going to remain challenging for the property industry, with <span>the risk of buying in a poor growth </span>markets, so buyers need to be prepared to withstand bumps along the way.</span></p>
<p><span>Especially since <span>many who purchased off-the-plan a few years ago are now going to have issues, perhaps given loss of income, along with the prospect of valuations coming in on completion at below contract price.</span></span></p>
<p><span>Ofcourse the apartment construction industry had hopes of seeing restored buyer confidence after the startling exposures during 2019 of neglectful building practices with t</span>he cracking at the Opal Tower high-rise just the tip of the industry poor practice.</p>
<p>Apartment markets across Sydney and NSW had reached new heights last year with record residential prices highlighted by a $100 million penthouse sale at Barangaroo.</p>
<p><span>While the pullback by buyers has taken momentum out of the market, and we could see some price falls amid a weakened rental market, the web traffic suggests buyer interest remains strong.</span></p>
<p><span><em>This article first appeared in </em>The Daily Telegraph<br></span></p>
</div>
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jchancellor-FAypfDUnLy

Off-the-plan buyers looking past Coronavirus crisis

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<p>EXPERT OBSERVER</p>
<p class="p1"><span class="s1">On Tuesday (24 March) I will be <a href="https://www.hotspotting.com.au/events/" target="_blank">hosting a lunchtime webinar</a> in which I will discuss the impact of the coronavirus on real estate with Rich Harvey of propertybuyer.</span> </p>
<p class="p1"><span class="s1">We’ve been inundated with registrations and it will the most popular webinar ever hosted by Hotspotting. Not surprisingly, with the virus impact dominating news media, people have an urgent interest in how this will play out for real estate.</span></p>
<p class="p1"><span class="s1">The virus impact is creating volatile share markets but I expect the outcomes for property markets to be quite positive by comparison.</span></p>
<p class="p1"><span class="s1">At times of extreme uncertainty and volatility, Australians tend to retreat to the solidity and relative safety of bricks and mortar.</span></p>
<p class="p1"><span class="s1">We saw that the last time there was a global crisis impacting on our economy and causing the Federal Government and the Reserve Bank to take special action – and that was in the wake of the Global Financial Crisis in 2008.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">At that time we were inundated with economists and others seeking their 15 minutes of fame by forecasting a collapse in housing values. Academic Steve Keen famously predicted that our property values would drop at least 40% in 2009. If he’d been right, it would have been an unprecedented demise of house prices, not only in Australia but anywhere in the world.</span></p>
<p class="p1"><span class="s1">And Keen was not alone. At that time, and in subsequent years, there was a seemingly never-ending line-up of doomsday forecasters for Australian real estate.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">One American spruiker, seeking to drum up publicity for an Australian seminar tour, claimed that house values would drop 60% and that land values would fall 90%.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">Renowned doomsday ranter Harry S Dent has claimed our property values were on the point of collapse on at least three separate visits to Australia over the past decade.</span></p>
<p class="p1"><span class="s1">Keen, Dent and all the other forecasters have one thing in common: they were all proven spectacularly wrong, every time.</span></p>
<p class="p1"><span class="s1">In 2009, at a time when Keen predicted a 40% drop in Australian property values, house values rose 13.6% - that’s the weighted average increase across the eight state and territory capital cities in calendar 2009, according to the Australian Bureau of Statistics.</span></p>
<p class="p1"><span class="s1">Every capital city except Adelaide recorded a double-digit rise in house prices in 2009.</span></p>
<p class="p1"><span class="s1">And in 2010 property values rose another 6%, according to the ABS, with all capital cities recording some level of growth, except Perth.</span></p>
<p class="p1"><span class="s1">One of the messages we received from those times, and from other periods when share markets have over-reacted to situations in the global economy, is that the Australian property market does not follow the lead of the share market.</span></p>
<p class="p1"><span class="s1">In fact, often it does the opposite.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">One of the factors that will keep residential real estate solid amid the virus crisis is the general shortage of homes in Australia, amid times of strong demand from owner-occupier buyers, including first-home buyers.</span></p>
<p class="p1"><span class="s1">There was relatively little construction of new dwellings in 2019. Vacancies across Australia are very low in most locations and listings of properties for sale remain well down on the levels of recent years.</span></p>
<p class="p1"><span class="s1">One measure showing the general shortage of homes is the vacancy rate figures published each month by SQM Research.</span></p>
<p class="p1"><span class="s1">Their latest report shows that, for the first time in many years, every one of the eight state and territory capital cities has a vacancy rate below 3%.</span></p>
<p class="p1"><span class="s1">In recent years both Perth, Brisbane and Darwin have had quite high vacancy rates and Sydney recently also had a vacancy rate above 3%. But now Perth is down to 2%, Brisbane is 2.2% and Darwin has dropped steadily lately and is now 2.7%. Sydney’s rate has also fallen and it’s now 2.9%.</span></p>
<p class="p1"><span class="s1">Hobart, Canberra and Adelaide all have vacancy rates around 1%, which means their rental markets are very tight. Melbourne has fallen lately and well as its vacancy rate is now just 1.9%.</span> </p>
<p class="p1"><span class="s1">So four of the capital cities are below 2% and all of them are lower than 3%.</span></p>
<p class="p1"><span class="s1">With availability of rental properties so low, we’re seeing rents rising in most of the capital cities.</span></p>
<p class="p1"><span class="s1">If vacancies are tight and rents are rising, prices are likely to heading north as well – and that’s certainly the case at the moment.</span></p>
<p class="p1"><span class="s1">The price report published by CoreLogic earlier this month showed prices had risen in the previous three months pretty much everywhere in Australia – in all eight capital cities and in all seven state regional jurisdictions.</span></p>
<p class="p1"><span class="s1">The SQM Research figures published on 17 March showed strong growth in our largest cities, with Sydney up 11%, Melbourne 9% and Brisbane around 7%.</span></p>
<p class="p1"><span class="s1">But Hobart still leads, according to these figures, with house prices 14% higher than a year ago.</span></p>
<p class="p1"><span class="s1">And there were also moderate rises in cities like Canberra and Adelaide.</span></p>
<p class="p1"><span class="s1">So, overall, the data shows that our property markets are very strong – and well placed to handle whatever outcomes arise from the virus crisis.</span></p>
<p class="p3"><span class="s1">T<em>erry Ryder is the founder of hotspotting.com.au</em></span></p>
<p class="p3"><span class="s2"><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></span></p>
<p class="p4"><span class="s1"><em>twitter.com/hotspotting</em></span></p>
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Coronavirus, a threat or opportunity for the housing market? Hotspotting's Terry Ryder

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<p class="post-title entry-title">EXPERT OBSERVER</p>
<p class="post-title entry-title">Globally there are now more than 657,000 cases of the Coronavirus, and more than 30,400 deaths.<br><br></p>
<div class="separator"><img src="https://1.bp.blogspot.com/-HM41pHmKAsY/Xn7wR2xMvLI/AAAAAAAA08U/bG7s8MQo5zkSOQxZJbwM7OzigYI8UDjUQCNcBGAsYHQ/s640/LOG.jpg" width="640" height="450" data-original-height="569" data-original-width="806"></div>
<p class="post-title entry-title"><br>On a global basis new cases continue to climb to 65,000 per day and rising.<br><br></p>
<div class="separator"><img src="https://1.bp.blogspot.com/-R6pcDJYkWbQ/Xn7wokBLYZI/AAAAAAAA08g/VMdwPR0gQL4wgpDxU9IL9VUU8mYRr9uaACNcBGAsYHQ/s640/C2.jpg" width="640" height="344" data-original-height="492" data-original-width="911"></div>
<p class="post-title entry-title"> </p>
<div>With the exponential increase continuing, it's only a matter of time before total global known cases ascend to 1 million and beyond. </div>
<div> </div>
<div>On the positive side of the ledger, China appears to have all but eliminated new cases, and a number of other countries appear to have arrested the virus. </div>
<div> </div>
<div>Germany now has more than 58,000 cases, but its curve does now appear to be flattening.</div>
<div> </div>
<div>Tragically, Italy has seen more than 92,000 cases and 10,000 deaths, but with luck here too the exponential growth may soon be curtailed. </div>
<div> </div>
<div>Spain's figures still look nasty, but the curve is gradually flattening. </div>
<div> </div>
<div>Increasingly the biggest disaster of all looks as though it might be in the US, where cases have exploded to 120,000 with little sign of any promising progress to date.</div>
<p class="post-title entry-title"><strong>Australia shutdown</strong><br><strong><br></strong>How about in Australia?</p>
<div>Today, new known cases increased by 460, taking total known cases to 3,640, with 14 deaths to date (mainly over those aged in their 70s or older). </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-U0VzMI3HDdc/Xn8hj5RCmgI/AAAAAAAA08o/1nU4s_mE34srRpq1lVS9p4-mJr9GaupiwCNcBGAsYHQ/s640/C1.jpg" width="640" height="400" data-original-height="593" data-original-width="946"></div>
<p class="post-title entry-title"> </p>
<div>That does represent an increase from 370 new cases on March 24, which was four days earlier, but at this stage the situation doesn't appear to be deteriorating catastrophically.</div>
<div> </div>
<div>Granted, a lot may change in this regard within a week or two. </div>
<div> </div>
<div>So we're by no means out of the woods yet, but for whatever reasons things do appear to be shaping up somewhat better in Australia than elsewhere.</div>
<p class="post-title entry-title"> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-aAbsD3Y4PHw/Xn8h6M-ybsI/AAAAAAAA08w/OMN88HSHX8U2YCeIm2eZi47L7kOC-lZ7QCNcBGAsYHQ/s640/CV1.jpg" width="640" height="470" data-original-height="656" data-original-width="893"></div>
<p class="post-title entry-title"> </p>
<div>And that's in spite of multiple cruise ship blunders and numerous earlier examples of flagrant disregard for social distancing rules.<br><br>And, indeed, it's in spite of more widespread testing per capita in Australia than in most other countries (Korea, Germany, and Russia have held more tests than we have, but of course their respective populations are far larger than ours, at only 25 million). </div>
<div> </div>
<div>Only a virologist can explain the possible reasons for this; perhaps the climate helps?</div>
<p class="post-title entry-title"><strong>A 9-point plan for re-opening Australia</strong></p>
<div>This is a global pandemic with global ramifications, but ultimately the world won't end, and figuratively speaking it'll be every man for himself when it comes to the critical question of how to kick-start national economies again.</div>
<div> </div>
<div>Here's a 9-point plan for how we might be able to achieve it soonest and most effectively, from the perspective of a perpetually under-qualified blogger, should the daily figures begin to improve over the next fortnight:</div>
<div> </div>
<div><strong>1 - Initiate a shelter-in-place order</strong></div>
<div> </div>
<div>States already have shelter-in-place action plans, so these should be used immediately for all non-essential workers and businesses. </div>
<div> </div>
<div>The Aussie economy has effective already had a coronary, so it's now imperative to get daily new cases of the Coronavirus under control as soon as humanly possible.</div>
<div> </div>
<div>The sooner we can do that, the sooner we can think about re-opening. </div>
<p class="post-title entry-title"><strong>2 - Wage subsidies</strong><br><br>The government has spoken much about its 'stimulus packages the equivalent of 10 per cent of GDP', but the truth is much of this has been in the form of loan facilities and other non-cash items.</p>
<div>Whether by following a similar model to Boris Johnson in the UK or through another approach using the existing transfer system, the government must announce wage subsidies for stood down workers to keep them solvent until such time that the economy can be opened for business again.<br><br>Retail workers are being stood down at an alarming rate, while hospitality and tourism is also being smashed.<br><br>But these workers can return to work soon too, provided that they can be tided over with subsidies.<br><br>Furthermore, with Treasury or RBA funding, banks may also be better served over the medium term to offer interest-only mortgage terms at an interest rate of, say, 2½ per cent to any borrowers in distress, for as long as needed (in addition to the arbitrary 6-month payment holiday terms already being promoted). </div>
<div> </div>
<div>Interest-only mortgage terms with the use of an offset account can be an ideal means for families and other mortgagors to begin building up a safety buffer as get back on their feet from a financial perspective.</div>
<div> </div>
<div>Rental relief measures will presumably also follow, perhaps implemented at the state level. </div>
<div> </div>
<div>These are extraordinary measures, but they're also extraordinary times.<br><br>Shutting down the economy is effectively a national disaster scenario, and it needs to be approached as such. </div>
<p class="post-title entry-title"><strong>3 - Set up a COVID-10 Delivery Unit</strong></p>
<div>Create a dedicated COVID-19 Delivery Unit to purchase, import, manufacture, or find any other ways to both stockpile and circulate facemasks, surgical masks, respiratory equipment, ventilators, gowns, protective gear, and treatment drugs, and prepare as many ICU beds as practicable around the country. </div>
<div> </div>
<div>Even <em>if</em> the virus gets under control in the short term, there could yet be a second, third, and fourth wave, so it's better to go hard here rather than die wondering (for want of a better phrase). </div>
<div> </div>
<div>If there's available funding for testing and research into vaccines, cures, and effective treatments, then implement that too. </div>
<div> </div>
<div><strong>4 - Fund a COVID-19 Testing and Tracing Unit</strong></div>
<div> </div>
<div>Australia must acquire millions of testing kits, and put in place widespread and rigorous testing and tracing regime, with an enforceable action plan for quarantining and treating those with symptoms, and tracing the recent contacts of any known infected persons. </div>
<div> </div>
<div><strong>5 - Government messaging</strong></div>
<div> </div>
<div>Testing and tracing will likely need to continue long after the curve of new cases is flattened, and to this end government messaging should encourage Aussies to keep a daily journal of their movements, and a daily record of folks they may have had close contact with each day (this is a suggestion I read about at the excellent <em>Calculated Risk</em>, and as usual it's a very thoughtful one). </div>
<div> </div>
<div>One of the best-known finance authors once reportedly said that people need to hear simple messages over and over again before they truly sink in...a point with which I concur.</div>
<div> </div>
<div>Therefore, appropriate messaging needs to be hammered home repeatedly on social distancing, the wearing of facemasks, washing hands, sanitising, hygiene, avoiding touching objects unnecessarily, and a raft of other key points. </div>
<div> </div>
<div>The wearing of facemasks has, to my knowledge, normally only been common practice amongst Aussies of Asian origin, but common sense says we should all consider adopting the practice (and maybe gloves too).</div>
<p class="post-title entry-title"><strong>6 - Re-open local economies with few cases</strong></p>
<div>The government faces the nigh on impossible task of balancing the public's health against the human and economic cost of keeping businesses closed.</div>
<div> </div>
<div>Take the example of the capital city of Darwin.</div>
<div> </div>
<div>The Northern Territory was already in recession before the COVID-19 issue surfaced, and now its borders must be closed and its businesses will be hit harder still by any restrictive measures. </div>
<div> </div>
<div>Yet the entire territory has just 15 known cases of the Coronavirus to date, and only one death.</div>
<p class="post-title entry-title"> </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-9gbrFTI3xpE/Xn8mfKh2aeI/AAAAAAAA084/MmkNK0vSRMoQk9SnCFIDGM8SAMP5CISAgCNcBGAsYHQ/s640/C2.jpg" width="640" height="436" data-original-height="662" data-original-width="970"></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div class="separator"> </div>
<div>At the appropriate point the towns and cities (and then states and territories) with the fewest cases will need to see restrictive measures lifted.<br><br>This can soon be an opportunity for Australia's regions to lead the economy forward again, which would make a pleasant change from the heavy reliance on Sydney and Melbourne of the past 7-8 years. </div>
<div> </div>
<div>Virus hotspots may need to remain shuttered for longer, but for towns and cities with the fewest cases the curfews and restrictive measures can be lifted soonest. </div>
<div> </div>
<div><strong>7 - Re-open the Aussie borders, but with mandatory testing</strong></div>
<div> </div>
<div>The capability should exist to introduce and maintain mandatory testing for all entrants into Australia on an ongoing basis. </div>
<div> </div>
<div>It goes without saying that those showing symptoms will need to be quarantined and appropriately treated. </div>
<div> </div>
<div>On the one hand these measures may seem draconian, but on the other hand, what might the alternative look like? </div>
<div> </div>
<div>Many of the cases in Australia apparently originated overseas, so airports and the border are evidently a high risk area. </div>
<div> </div>
<div><strong>8 - Allow businesses to re-open</strong></div>
<div> </div>
<div>As daily new known cases begin to decline, allow businesses and trading to re-open, but with social distancing still to be practised to the extent possible.</div>
<div> </div>
<div>Businesses should be encouraged to allow staff to work from home where practicable, and group meetings discouraged where possible.</div>
<div> </div>
<div>Moreover, an over-arching rule of common sense must apply. </div>
<div> </div>
<div><strong>9 - An ongoing fight</strong></div>
<div> </div>
<div>It's not yet entirely clear whether re-infection is possible, or whether there will be second and third waves of the virus in those locations where cases of the virus have initially been controlled. </div>
<div> </div>
<div>Therefore, we must remain vigilant well beyond the point that the economy is up and humming again.</div>
<div> </div>
<div><strong>A balancing act</strong></div>
<div> </div>
<div>There is, of course, no 'right' way to do these things. </div>
<div> </div>
<div>Every day that companies or self-employed workers are closed for business inflicts more pain, so there are many challenging decisions to be made in real time by those in power to balance the potential risks versus respective health and economic costs. </div>
<div> </div>
<div>Only in hindsight will experts know what could or should have been done with more certainty, but this 9-point plan is what's swirling around my head tonight.</div>
<div> </div>
<div><strong>In short: </strong></div>
<div> </div>
<div>- Issue shelter-in-place orders until the curve of new cases is flattened;</div>
<div> </div>
<div>- Go hard, fast, and early to wage subsidies for workers and cash payments for businesses, with further mortgage and rental relief packages to follow;</div>
<div> </div>
<div>- Build up a war chest of medical supplies, and introduce a nationwide testing, tracing, and quarantining program;</div>
<div> </div>
<div>- Hammer home the 'best practice' messaging, and encourage record-keeping with respect to personal movements and contact with others;</div>
<div> </div>
<div>- As daily new cases begin to decline, re-open locations and economies with the fewest known Coronavirus cases first, and gradually roll this re-opening out nationwide; and </div>
<div> </div>
<div>- Enforce mandatory testing for all entrants to Australia, with quarantine as required.</div>
<p class="post-title entry-title"><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></p>
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A 9-point plan for re-opening Australia: Pete Wargent

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<p><span>EXPERT OBSERVER</span></p>
<p><span>Job vacancies had barely begin their decline by the end of February, holding up at about 227,000.</span></p>
<p><span>Vacancies were lower than a year earlier due to the bushfires, but not by much.</span></p>
<p>Click <a href="https://1.bp.blogspot.com/-KNa301clF_4/XoVRp1y5JiI/AAAAAAAA1DM/Oc-nvFUNd0Yj1oiu6d41CR0KXGHCg2XbQCNcBGAsYHQ/s640/A1.jpg" target="_blank">here</a> to enlarge.</p>
<p><img src="https://1.bp.blogspot.com/-KNa301clF_4/XoVRp1y5JiI/AAAAAAAA1DM/Oc-nvFUNd0Yj1oiu6d41CR0KXGHCg2XbQCNcBGAsYHQ/s640/A1.jpg" width="640" height="384" style="font-size: 12.16px;" data-original-height="816" data-original-width="1359"></p>
<div class="separator"> </div>
<div>There were about 700,000 unemployed persons at the end of the last month, so there never was any tight labour market in this cycle. </div>
<div> </div>
<div>We simply never got low or tight enough to see stronger wages growth. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-D28blnXsgiw/XoVRp2NX0DI/AAAAAAAA1DI/e6kSJ5tag6QHcqB-Cc5JlpCHJ-5qPwktwCNcBGAsYHQ/s640/A3.jpg" width="640" height="376" data-original-height="824" data-original-width="1398"></div>
<p><span>And full employment has remained elusive throughout the full cycle.</span></p>
<p>Click <a href="https://1.bp.blogspot.com/-d5OcMFYxtOs/XoVRprnURdI/AAAAAAAA1DE/VuLDAE0OyWoQ8tVThGIyatv2iax8ATpiACNcBGAsYHQ/s640/A2.jpg" target="_blank">here</a> to enlarge.</p>
<div class="separator"><img src="https://1.bp.blogspot.com/-d5OcMFYxtOs/XoVRprnURdI/AAAAAAAA1DE/VuLDAE0OyWoQ8tVThGIyatv2iax8ATpiACNcBGAsYHQ/s640/A2.jpg" width="640" height="370" data-original-height="814" data-original-width="1408"></div>
<div class="separator"> </div>
<div>Looking at the most timely available data from private data sets on job vacancies and other reads, it seems likely that unemployment is probably heading to about 10 per cent, although the situation is very fluid right now. </div>
<div> </div>
<div>At the state level, the resources states were tracking a bit better, as Sydney and Melbourne have moved beyond their respective peaks. </div>
<div> </div>
<div>Click here to enlarge.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/--rUsZxjmY2U/XoVRq0743RI/AAAAAAAA1DQ/0A7rMqDZHeM1ShxtFwsnDL6Px5T_8HbygCNcBGAsYHQ/s640/A4.jpg" target="_blank"><img src="https://1.bp.blogspot.com/--rUsZxjmY2U/XoVRq0743RI/AAAAAAAA1DQ/0A7rMqDZHeM1ShxtFwsnDL6Px5T_8HbygCNcBGAsYHQ/s640/A4.jpg" width="640" height="370" data-original-height="811" data-original-width="1400"></a></div>
<p><span>Challenging times ahead.</span></p>
<p><span><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></span></p>
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Job vacancies are getting set for a plunge: Pete Wargent

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<p><span>EXPERT OBSERVER</span></p>
<div>New listings fell in March according to SQM Research as more potential vendors decided not to list.</div>
<div> </div>
<div>However, total listings had already begun to increase (+3.7 per cent) as more 30-60 day stock banked up, having failed to sell. </div>
<p><span style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-d2CQt-N3jio/XowhwDv7zpI/AAAAAAAA1IM/83eJ9Qa8bz0i2eCpwC4KlueT4ghuvHaLgCNcBGAsYHQ/s640/SQM1.jpg" width="640" height="388" data-original-height="830" data-original-width="1368"></span></p>
<p> </p>
<p>From a year ago total property listings remained -13 per cent lower than year earlier, mainly due to Sydney where listings were still -23 per cent below March 2019 levels, with Hobart also down -19 per cent year-on-year.</p>
<div><span style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-LrJvfUcx3w0/XowhwMrVFKI/AAAAAAAA1IQ/2u2tYMooKcsELebZ2QC6lyCKmpIAn6IGwCNcBGAsYHQ/s640/SQm2.jpg" width="640" height="388" data-original-height="827" data-original-width="1359"></span></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div>SQM reported that asking prices increased further in March, driven by increases in Sydney, Melbourne, and Perth, suggesting that vendors have not yet adjusted their price expectations, despite the effective shutdown of the economy.</div>
<p><span><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></span></p>
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New listings and sales are falling but asking prices rose in March: Pete Wargent

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<p>EXPERT OBSERVER</p>
<p>The CoreLogic Home Value Index results for October out today confirm a 1.2% rise in national dwelling values over the month, delivering the fourth straight month of rising values.  </p>
<p>The October result was the largest month-on-month gain in the national index since May 2015.</p>
<p>The recent gains come after a broad-based decline in housing values, with the national index declining 8.4% between October 2017 and June 2019.  </p>
<p>The positive October result takes national dwelling values 2.9% off their June 2019 floor, however values remain 5.7% below their peak, highlighting that despite the recent gains, home values are at a similar level to where they were three years ago.  </p>
<p><img src="https://www.corelogic.com.au/sites/default/files/2019-11/index_results_as_at_20191031.png" width="600" height="283"></p>
<p>The strongest growth conditions continue to be centered in Melbourne and Sydney, however dwelling values trended higher across most of the capital cities as lower mortgage rates and improved credit availability spurred on buyer demand.  </p>
<p>Dwelling values were up across every capital city apart from Perth over the month, and based on the rolling three-month change, the only capitals where values fell were Perth (-1.7%) and Darwin (-1.2%).  </p>
<p>The stronger rebound in Melbourne and Sydney can be attributed to a blend of factors; tighter labour market conditions and stronger population growth relative to the other capitals, coupled with the stimulatory effect of the lowest mortgage rates since the 1950’s, and improved access to credit.  </p>
<p>Stamp duty exemptions for first home buyers purchasing under specific price points have added additional stimulus to housing demand.  </p>
<p><img src="https://www.corelogic.com.au/sites/default/files/2019-11/change_since_peak_20191031.png" width="600" height="473"></p>
<p>The recovery trend in Melbourne overtook Sydney in October, with dwelling values surging 2.3% higher over the month; the largest month-on-month gain since November 2009.  </p>
<p>Melbourne housing values have recovered 6.0% since moving through a trough in May 2019, while Sydney values are up 5.3% since the recent May low.<br><br>The smaller capitals have delivered a mixed performance, although the general theme is one of improving conditions.  </p>
<p>The rolling three-month change in Brisbane housing values (+1.1%) was the highest since December 2015, Adelaide (+0.1%) posted the strongest rolling quarter since December 2018, while Hobart (+1.0%) and Canberra (+2.4%) recorded the largest three month rise in values since March 2019 and May 2017. <br><br>The downwards trend in Perth and Darwin home values has continued, however both markets are showing an improvement in the trend rate of decline.  </p>
<p>The rolling three-month trend in Perth housing values recorded the smallest decline in fourteen months (-1.7%) and Darwin dwelling values posted a rare monthly rise in October.  </p>
<p>Both cities have seen dwelling values consistently trending lower since mid-2014, with Darwin down a cumulative 31% and Perth values 22% lower.  </p>
<p>Perth is now recording the lowest median house value of any capital city ($451,800) and Darwin house values are a close second with a median of $468,300.  </p>
<p>Unsurprisingly, the Northern Territory and Western Australia are also showing the highest proportion of first home buyer activity, with first time buyers not weighed down by negative equity and with the ability to take advantage of very affordable housing in these regions. </p>
<p><em><strong>TIM LAWLESS</strong> is the CoreLogic Head of Research</em></p>
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