Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Joel Robinson

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

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

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

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

Lowe Living set new Melbourne off the plan apartment record

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

The inflation result the property market was waiting for

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The number of total listings in Sydney has risen by almost 19% on the same time last year, according to CoreLogic’s latest report.
The property data firm says that in the past 12 months listings in Sydney has risen to 22,776.
This makes Sydney having the highest listing growth in the past 12 months with Adelaide coming second with 5.1%.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.35%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.35%20am.jpg" alt="">
Hobart took the top spot with the highest decline in listings in 12 months with a drop of almost 30%.
Sydney is also the most expensive locality to purchase a property with houses sitting at a median price of $900,000 while units have a median price of $700,000.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.44%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.44%20am.jpg" alt="">
Hobart is the cheapest place to purchase properties with houses sitting at $395,000 while units sit at $306,250.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glen+alpine-126152666" target="_blank">144 Englorie Park Drive</a>, Glen Alpine (above) has been listed for between $959,000 to $999,000.
Built in 2000 it last sold for $555,000 in 2003.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cobbitty-126254914" target="_blank">208 Cobbitty Road</a>, Cobbitty (below) has been listed for between $920,000 to $990,000.
It last sold in 2009 for $500,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/11/208%20Cobbitty%20Road.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Sydney's total spring 2017 property listings up by almost 19%: CoreLogic

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Blue at Lavender Bay, Aqualand Australia’s pinnacle project, secured a strong weekend sales result when they officially went on sale.
The development was expected to meet with strong buyer interest because it was marketed as the last residential conversion development in the Milsons Point area with views to the city and Harbour Bridge.
Of the 72 apartments sold on Saturday morning the highest sale result was the $8 million sub-penthouse, which equated to a bullish $55,000 per square metre.
But the sales success required an extended six month buildup, and not all 129 apartments in the development, located at 61 Lavender Street, Milsons Point, went up for sale.
The project display suite has been open since August promoting the offerings in what was once an 18-level commercial office building. 
Alex Adams, Aqualand sales manager, said the luxurious abodes had been conceptualised by architectural firm PTW to include premium Gaggenau appliances, natural stone kitchens, stone floors, extensive joinery, larger open-plan living areas and generous sized bedrooms and ensuites.
Aqualand bought the Samsung office building last year for $140 million.
Ben Stewart, at CBRE, has advised the second stage of the 20-storey tower includes the penthouse, which is a 550-square-metre offering expected to carry a $20 million asking price.
The managing director of Aqualand is Shangjin Lin, who on New Year’s Eve in 2015 paid $52 million for the Vaucluse trophy home Villa Igiea.
Aqualand is a subsidiary of the Shanghai-based property developer Shenglong, billed as one of China’s top 50 property developers and chaired by Mr Lin’s father, Yi Lin.
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Aqualand hope to secure $20 million penthouse at Blue

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A three bedroom Clinton, Queensland house has been listed for mortgagee sale with a price guide of $255,000.
Located at <a href="https://www.realestate.com.au/property-house-qld-clinton-126305990" target="_blank">3 Ingemar Court</a>, the 683 sqm property is located in a quiet cul-de-sac.
It last sold for $357,000 in 2013.
It features a tiled lounge room, open plan tiled kitchen and dining room as well as a separate tiled rumpus room that leads to the outside.
The kitchen features two cupboards, stainless steel as well as electric oven, rangehood, ceramic cooktop and pantry.
There are three bedrooms, all carpeted and with built-in robes, while the main bedroom has its own walk-in robe and ensuite.
The property is offered through Ros Waters of RE/MAX Energy.
A nearby three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-clinton-124913574" target="_blank">27 Camille Street</a>, Clinton (below) was sold in July for $200,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/27%20Camille%20Street.jpg" alt="">
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Clinton, Queensland house listed for mortgagee sale

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Property NSW, on behalf of Family and Community Services, has sold the historic Workers Dwellings in Millers Point for $26 million.
Located between 30 Lower Fort Street and 4 Trinity Avenue, the three-storey block of 33 apartments was built by the Sydney Harbour Trust in 1910.
Following closure of a public tender process, the historic building was sold via negotiations managed by McGrath Estate Agents.
Buyers will have another opportunity to purchase a slice of history in Millers Point, with the following properties entering the market today:
· 30 Kent Street - two duplex apartments with courtyards
· 5 Windmill Street terrace
· 75 Windmill Street terrace
· 85 Lower Fort Street terrace
· 52 Gloucester Street terrace
· 63 Kent Street terrace
· 26 Argyle Street terrace
The properties will be auctioned by McGrath on 11 October 2017.
Proceeds from the Millers Point sales program have delivered over $448 million for investment in new social housing developments in NSW.
As at July 2017, a total of 625 dwellings have been completed and an additional 452 dwellings are currently under construction as a result of the Millers Point sale.
For more details please visit <a href="https://www.rediscovermillerspoint.com.au" target="_blank">www.rediscovermillerspoint.com.au</a>.
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Apartment block in Millers Point sells for $26 million

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With a rare off-note for Melbourne, the singer songwriter Tina Arena's Fitzroy property was passed in on a vendor bid of $1.75 million at weekend auction.
There is now a $1.795 million asking price for the Fitzroy terrace which Arena, one of Australia’s highest selling female artists, has restyled since paying $1.38 million in August 2015.
But Melbourne did record the nation's highest result when an Edwardian ere home in Middle Park house sold for $6.4 million, shortly after being passed in at $6.25 million through Marshall White Port Phillip.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126188014" target="_blank" rel="noopener noreferrer">136 Page Street</a>, there were three bidders for the five bedroom home that had last sold in 2015 for $5.5 million.
There's been a slight improvement in the national auction clearance rate, according to CoreLogic’s latest report, which comes as national spring auction volumes have increased on the second spring weekend.
The combined capital city preliminary clearance rate rose to 70.2 per cent for the week.
It was after last week’s revised final clearance rate fell to 66.4 per cent, which was the lowest combined capital city clearance rate so far this year, and the lowest since June 2016.
The clearance rate was lower than this time last year in all capitals, except Perth.
Auction volumes increased week-on-week with 2,225 properties taken to auction, up from 2,074 last week, and higher than this time last year (2,062).
Melbourne had the most auction stock and the highest success rate.
Its preliminary results had 73.2 per cent of the 938 reported auctions sold this week.
There were 1,097 properties taken to auction, up from 976 last week when the final clearance rate was recorded at 71.3 per cent.
Over the same week last year, 974 auctions were held and the clearance rate was 78.3 per cent.
Melbourne's strongest clearance was across the North West region at 86.6 per cent.
Some seven of the nine sub-regions of Melbourne recorded clearance rates above 70 per cent.
The cheapest sale was when a one bedroom West Footscray apartment sold for $208,000.
Located at <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-126187274" target="_blank" rel="noopener noreferrer">20/697 Barkly Street</a>, the 33 sqm unit was marketed by Century 21 agent Yogi Flis with $195,000 to $214,000 hopes.
It has last sold at $45,500 in April 1989 and $17,950 in March 1976.
Sydney was host to 810 auctions this week with a preliminary clearance rate of 72.3 per cent, rising from 65.5 per cent last week across 779 auctions, although CoreLogic auction analyst Kevin Brogan advised this will fall over the week as late results come in.
One year ago, 758 auctions were held across Sydney and 80.6 per cent were successful.
The lowest clearance rate was across the Sutherland region where 57.1 per cent of the 42 reported auctions were successful.
Sydney prices peaked in Pymble where a six bedroom house sold for $5.7 million. It was among the increasing numbers of pre-auction sales.
Domain noted sold priors sat at 145 up from 109 in the previous weekend, given the increased paucity of active auction. buyers, with vendors taking what was on the table.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-pymble-126159310" target="_blank" rel="noopener noreferrer">33 Pymble Avenue</a>, the 2100 sqm property had been marketed as the "pinnacle of prestige in Pymble."
Domain chief economist Andrew Wilson said the spring selling season was shaping up to be one of the slowest in five years.
"It is becoming a much more level playing field between buyers and sellers," Dr Wilson said.
The preliminary clearance rate in Brisbane this week was 43.9 per cent, down from 45.6 per cent last week.
Auction volumes were similar this week with 137 auctions held, compared to 138 last week.
A two bedroom Macleay Island house sold for $138,000 making it regional Brisbane's cheapest sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-macleay+island-126089966" target="_blank" rel="noopener noreferrer">29 Nugent Street</a>, the 665 sqm property was marketed as an excellent investment return proposition having been offered recently as a $250 a week rental.
Built in 2006, it was offered last October at $245,000, with reduced $180,000 hopes in June this year. 
Situated in a quiet part of the island it was marketed as fully Crimsafe screened.
Brisbane's top sale was a Hamilton house sold for $2.58 million.
Located at <a href="https://www.realestate.com.au/property-house-qld-hamilton-126168626" target="_blank" rel="noopener noreferrer">11 Czar Street</a>, the four bedroom 1930s property was redesigned by architect Derek Trebilcock and interior designer Mary Durack.
Last sold for $1.14 million in 2009, the property was offered through Ray White agent Matt Lancashire.
In Adelaide, a 67.2 per cent preliminary result was recorded this week across 74 auctions.
Last week, 76 Adelaide auctions returned a clearance rate of 50 per cent for the city, while at the same time last year, 88 homes were taken to auction, with 68 per cent recording a successful result.
A three bedroom Vista house, 13 kms from the CBD, sold for $315,000 making it Adelaide’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-vista-126109418" target="_blank" rel="noopener noreferrer">1407 Grand Junction Road</a>, the property is ripe for renovation.
Built in 1972 it last sold in 2011 for $330,000.
A classic 1925 Myrtle Bank house that sold for $1.27 million was Adelaide’s most expensive sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-sa-myrtle+bank-126227630" target="_blank" rel="noopener noreferrer">31 Ferguson Avenue</a>, the renovated four bedroom bungalow on 1010 sqm last sold for $317,000 in 2000.
Perth’s clearance rate of 36.8 per cent across 19 auction results compared to the 27.3 per cent last year.
Across Canberra, 72 homes were taken to auction on the weekend.
Preliminary results show a clearance rate of 69.2 per cent, up from 66.1 per cent the previous week.
A mountain-view five bedroom Deakin house sold for $1.675 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-act-deakin-126193006" target="_blank" rel="noopener noreferrer">36 Norman Place</a>, the two storey brick house on 679 sqm also has glimpses of the lake.
Situated in a cul-de-sac, it last sold for $363,000 in 1998.
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Melbourne remains the auction powerhouse in early 2017 spring auctions

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GUEST OBSERVER
Is the Aussie dollar too strong? According to CommSec iPhone index Australia is now the 25th cheapest country in the world (of 57 nations) to buy an Apple iPhone 7 in US dollar terms.
This time last year, Australia was the 17th cheapest to buy the iPhone 6 Plus and a year before Australia was fifth cheapest.
  Last year the Aussie dollar was near US76 cents and the year before it was US69 cents. This year the Aussie dollar is near US80.5 cents.
  An iPhone 7 32 GB is $1,079 in Australia (US$869.67 at current exchange rates). In the US, the same phone is US$649 (US$702.54 in California with state and local taxes) – around 24 per cent cheaper.
  Apple is expected to release a new model of the iPhone on Tuesday and Australian consumers will be closely watching the local pricing of the must-have device. 
  Now turning to the CommSec iPad index. Australia is now the 17th cheapest country in the world (of 57 nations) to buy an Apple iPad Pro (released June 5 2017) 10.5-inch tablet device in US dollar terms. This time last year, Australia was the 20th cheapest to buy an iPad Pro 12.9-inch tablet. The year before Australia was the second cheapest to buy an iPad.
  In January 2007 CommSec launched its iPod index as a modern way of looking at purchasing power theory. That is, the theory that the same good should be sold for the same price across the globe once taking into account exchange rates. On current iPad &amp; iPhone pricing the Aussie dollar could be regarded as, at best, as a little “expensive”. Last year we thought the currency was slightly “over-valued”.
  On current pricing, Aussie tourists could save almost $190 by buying an iPad Pro 10.5-inch tablet in Hong Kong rather than in Australia. When the currency strengthens it does pose challenges for Aussie retailers. If they don’t pass on the benefits to customers in the form of cheaper imported goods, Aussie consumers may go online and source the goods from abroad. Or Aussie tourists may purchase goods abroad in preference of buying goods locally.\
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%208.19.29%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%208.19.29%20AM.png" alt="">
What do the index results show?
  In January 2007, CommSec launched its iPod index. It was designed as a new way of looking at purchasing power theory. That is, the theory that the same good should be sold for the same price across the globe once taking into account exchange rates. The Economist magazine has for some time maintained its Big Mac index for the same purpose – that is, tracking the concept of purchasing power parity.
  CommSec has since shifted the focus to Apple iPad and Apple iPhone prices. 
  Last year the Aussie dollar was near US75.7 cents. Today, the Aussie dollar is near US80.5 cents. And that change has led to Australia slipping down the leader-board on US dollar pricing of the iPhone 7 and being little- changed on the iPad index – but far less globally competitive than a few years ago.
  On an iPhone 7, 32 GB, Australia is now the 25th cheapest place to buy the smartphone in the world. A year ago Australia was the 17th cheapest place to buy the then current iPhone 6s model. On iPad pricing, Australia has edged higher from 20th to 17th over the past year. 
Simply, Australia is no longer amongst the cheapest places across the globe to buy popular technology when measured on the same basis as other countries – that is, in US dollar terms.
  Last year we surmised that the Aussie dollar probably was “fairly valued” or perhaps even slightly “over-valued”. This year, the Aussie dollar looks more expensive. But “commodity currencies” like the Australian dollar, Canadian dollar and Norwegian krone are in favour at present. The Reserve Bank has grappled with the issue of whether the Aussie dollar is too firm against major currencies, saying “The higher exchange rate is expected to contribute to the subdued price pressures in the economy. It is also weighing on the outlook for output and employment.”
Global highs and lows
  It is important to note that sales tax rates provide complications in undertaking comparisons across countries. In Australia the GST is included in the Apple Store price. The sales tax environments aren’t as clear on the pricing of iPads and iPhones in many other countries. In Canada and the US there are various prices for the iPads and iPhones depending on the different state or province sales taxes that apply. We have undertaken comparisons with Ontario in Canada and California in the US. Apple Japan also quotes prices ex-tax. 
  The CommSec iPad and iPhone indexes shows that Latin American, northern and Eastern European countries still pay the most for their tech devices. Australian customers still remain in front of European customers in paying for iPads but have fallen below a number of European countries on iPhones.
  On current exchange rates Hong Kong and Japan are cheapest to buy the iPad Pro 10.5-inch model on current exchange rates. Saudi Arabia and Japan appear the cheapest places to buy an iPhone. On both iPads and iPhones, Brazilian and Argentinian customers pay the highest prices in the world to buy the latest technology.
Purchasing power parity: In theory only
  While the concept of purchasing power parity is good in theory, unfortunately there are complications in practice. As noted above, one of the biggest complications is tax with differing consumption tax rates applied across the globe.
  The other complication with purchasing power parity is freight or shipping cost. If the local price was relatively high and shipping costs weren't overly exorbitant then a buyer may decide to source goods from another country. If enough buyers were to source goods abroad, presumably it would force local retailers to re-assess pricing.
  On current exchange rates Australian consumers could be tempted to buy their iPads and iPhones from a number of countries while on personal or business trips. For instance an iPad Pro (2017 version) 10.5-inch model costs A$979 in Australia. On current exchange rates, an Aussie traveller could save almost A$190 to buy the same good in Hong Kong.
Australia: Pricing reflects the firmer currency
  Since we began the CommSec iPod index in January 2007, Australia was always one of the cheapest places in the globe to buy the iPod nano media player. In fact Australia was the cheapest place to buy the popular media player in both October 2008 and December 2009.
  We have now shifted to iPads and iPhones for comparison. Australia is more middle-of-the-pack to buy the must- have tech devices as Apple pricing and the stronger currency has pushed us away from the cheapest levels.
  Changes in Australia's relative position over time always reflect fluctuations in the exchange rate as well as local pricing by Apple. The important point is that local retailers and suppliers face the same dilemma as Apple - when currencies change, how quickly should local pricing change? And if you do change selling prices, do you fully adjust for the currency impact? There is a range of influences that play a part in the decision, including a judgement about whether the currency change is likely to be permanent or temporary. 
The Aussie dollar has risen by 6 per cent against the US dollar over the past year. But local pricing hasn’t changed much, resulting in Australia no longer having the lowest-priced Apple products in US dollar terms. Perhaps that means price cuts lie ahead when Apple updates its latest tech devices on Tuesday (Wednesday Sydney time)?
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%208.17.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%208.17.48%20AM.png" alt="">
Big Mac index, and exchange rates
CommSec has maintained its iPod index since January 2007 as a way at looking at issues such as the impact of currency changes on consumer spending, globalisation and retailer margins. With relative importance switching from iPods to iPads, CommSec started compiling iPad indexes, and now iPhone indexes.
  The CommSec iPod, iPad and iPhone indexes are designed as modern day variants of the long- running Big Mac index compiled by The Economist magazine. Both the iPad and Big Mac indexes work on the theory of ‘same good, same price’. That is, the same good should trade at broadly the same price across the globe if exchange rates are adjusting properly.
 The Economist uses its Big Mac index to track the economic theory of purchasing power parity (PPP).
That is, the theory that the same good should trade for the same price across the globe once adjusted for exchange rates. The index works by dividing the local price of a Big Mac by the US price of a Big Mac. This gives the PPP exchange rate. If the actual exchange rate is above the PPP rate, the theory says that the currency is over-valued, and may need to fall to bring the goods in both countries in line.
  The problem is that Big Macs aren’t exchanged across country borders. But the assumption is that Big Macs are a proxy for other goods that certainly may be traded. The other problem is that the Big Mac index assumes a US base, and thus assumes that US goods are appropriately priced. 
  The last Big Mac index analysis (July 2017) concluded that the Aussie dollar was relatively “under-valued” by 14.6 per cent against the US dollar (most currencies were regarded as “under-valued”). In other words the Aussie dollar should have been closer to US90c rather than US77.05c at that time. Today the Aussie dollar stands nearer to US80.05 cents.
CommSec iPad and CommSec iPod indexes and exchange rates
 Like the Big Mac index, the CommSec iPad and CommSec iPod indexes assume that the same good should sell for the same price across the globe once exchange rates are taken into account. But the difference with the Big Mac index is that Apple tech devices can indeed be exchanged across the globe. If they are particularly cheap in one country it could cause tourists to buy their tech devices when on holiday, prompt people to buy them online in other countries, or prompt some companies to take advantage of arbitrage opportunities.
  But Apple devices are manufactured in one place (China – mainland China as well as Taiwan) and sold across the globe. So it won’t just be the cost of the good that could result in price differences across the globe but also local taxes, freight and different mark-ups. 
  But if you assume that the Aussie price for an iPad Pro should be the same price as that paid by a resident in California, then the exchange rate should be closer to US72 cents. Again, if you assume that the Aussie price for an iPad Pro should be the same as China where the goods are manufactured, then the Aussie dollar is “about right” at US80 cents. Although on iPhone pricing an appropriate level of the Aussie dollar would again be around US77 cents.
  The Economist Big Mac index suggested that the Aussie dollar was “under-valued”. But the CommSec iPad and iPhone indexes suggest the Aussie dollar is perhaps 5-10 per cent “over-valued” at current exchange rates. 
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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The iPhone price index: where Australia ranks in the world

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<div>There have been many predictions of a Melbourne property crash over the past decade.</div>
<div> </div>
<div>The crash was variously to be triggered by Baby Boomers retiring, China, falling iron ore prices, the mining cliff, spiralling bank funding costs, slowing population growth, apartment oversupply, budget deficits, the loss of the AAA-rating, rising unemployment, higher interest rates, the Ebola virus, and dozens of other things. </div>
<div> </div>
<div>I've been pretty bearish on a few of these points myself - in particular I worried about the overbuilding point a few years back. </div>
<div> </div>
<div>And yet, Melbourne's housing market is powering on harder than ever. </div>
<div> </div>
<div>One of the biggest hurdles in recent months has been how the housing market would respond to additional levies on foreign investors and a crackdown on interest-only loans domestically.</div>
<div> </div>
<div>July's housing finance figures delivered an emphatic answer: record homebuyer commitments of $6.12 billion in a single month, for a crunching +12 per cent year-on-year increase. </div>
<a href="https://www.propertyobserver.com.au/images/2017/09/11/A3.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/11/A3.jpg" alt=""></div>
<div> </div>
<div>Stock absorbed</div>
<div> </div>
<div>The iron ore price didn't crash in the end, and bank funding costs have remained very low - discounted home loans are now available from just 3.65 per cent, and lenders are busily dropping their rates to entice new business.</div>
<div> </div>
<div>Meanwhile, the Baby Boomer cohort became net buyers of property in search of return on their capital. </div>
<div> </div>
<div>One of the surprising outcomes through this cycle has been the sheer pace of population growth in Melbourne, which just got faster, and faster, and faster, at the expense of Perth, Adelaide, and any number of regional centres. 
</div>
<div>Until this rate of population growth turns down in Melbourne, even record building activity can barely keep pace, and vacancy rates have fallen to their lowest levels in about 7 years. </div>
<div> </div>
<div>Median asking rents for apartments in Melbourne are now about +12 per cent higher over the past 3 years, according to SQM Research, while asking rents for houses have increased by about +11 per cent. </div>
<div> </div>
<div>Unlike Sydney, Melbourne has affordable suburbs, and this is even helping to attract migrants internally from the harbour city. One of the most vociferous property bears of the past decade, Philip Soos of LF Economics, now predicts that the next property correction won't happen for another 9 year, in 2026 (not that I'd reach too much into that). </div>
<div> </div>
<div>Jobs outlook</div>
<div> </div>
<div>The global economy generally looks set for a stronger period ahead, with all regions now delivering growth. </div>
<div> </div>
<div>Australia's economy has added full time jobs at a tremendous pace in 2017. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/11/A1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/11/A1.jpg" alt=""></div>
<div> </div>
<div>However, that dream run looks set to slow a little as we head in 2018, once residential building slows down, while the inflation figure will be re-weighted for the December 2017 quarter, probably reducing the inflation rate even lower than it already is. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
</div>
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Melbourne property correction nowhere to be seen: Pete Wargent

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A three bedroom Holloways Beach, Queensland house has been listed for mortgagee sale.
It is listed for September 26 ReMax auction.
Located at <a href="https://www.realestate.com.au/property-house-qld-holloways+beach-126296438" target="_blank">38 Oak Street</a>, the 658 sqm property is marketed as having endless possibilities
Built in 1970 it last sold for $262,500 in 2006.
It features three bedrooms and a functional kitchen as well as an undercover timber deck.
It is within close proximity to the Cairns CBD and is a short drive to the Smithfield Shopping District.
The median house price at Holloways Beach is $385,000, with $377,000 for three bedroom offerings.
Another three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-holloways+beach-125510746" target="_blank">83 Baronia Crescent</a>, Holloways Beach (below) was sold in June for $365,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/83%20Baronia%20Crescent.jpg" alt="">
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Three bedroom Holloways Beach, Queensland house listed for mortgagee sale

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Sydney housing market is at its peak, according to Herron Todd White’s latest property clock.
<div class="cq-article-content-paras section">
But the "frenzied" house buying is fading, according to analysis by valuers' Herron Todd White.
Regulatory pressure<a href="https://www.afr.com/business/banking-and-finance/apra-takes-on-australias-dangerous-addiction--interestonly-home-loans-20170331-gvarm5"> </a>on lenders to encourage lower risk principal and interest loans plus larger deposits are also increasing encouraging owner-occupiers back into a market that has been dominated by investors, it noted.  
</div>
<div class="cq-article-content-paras section">
Sydney is joined by Coffs Harbour, Newcastle and NSW Central Coast at the peak of the market.
"Buyers in these markets are increasingly being drawn towards low maintenance living within close proximity of schools, public transport and other services," it concludes.
While the home buying frenzy has flattened, Melbourne's market has more room for growth, according to the analysis.
</div>
<div class="cq-article-content-paras section">
Perth, Darwin, Alice Springs and Mackay are at the bottom of the market. 
</div>
<a href="https://www.propertyobserver.com.au/images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.14.39%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.14.39%20pm.jpg" alt="">
Perth’s housing market continues to decline with it now at the bottom of the market moving from approaching the bottom last month.
Millers Point has been a strong Sydney market. A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-millers+point-126320070">30 Kent Street</a>, Millers Point (above) has been listed for between $2.5 million to $2.7 million.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-wa-perth-126169642">33 Ruth Street</a>, Perth (below) has been listed for over $840,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/33%20Ruth%20Street.jpg" alt="">
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Sydney housing market reaches peak while Perth hits bottom: HTW property clock

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GUEST OBSERVER
The Urban Taskforce has established ‘Council Watch’ that will transparently measure how critical councils are performing in relation to housing supply and the effective processing of planning applications.
Increasingly it is councils that are the regulators of the planning system that determine how long it takes to get approvals for major housing projects.
With the NSW Government moving away from amalgamating councils that would have created more efficient structures we believe we will need to monitor the performance of key metropolitan Councils in Sydney. The Urban Taskforce has therefore set up ‘Council Watch’ to actively monitor the most critical councils across Sydney.
We are doing this to protect consumers of new housing from excessive purchase prices of new homes that could be inflated by increased council levies and extended planning processes that increase holding costs that get passed on to the end purchaser.
High on our list will be council policies that may impact on the supply of new housing which the NSW Government says is a priority. With the state government lifting the cap on infrastructure levies, we believe bullish councils are likely to add up to $50,000 to the cost of a home. The growing trend to add levies to new housing to contribute a percentage as affordable homes back to the council will also increase the cost of new housing.
We have polled our members to identify the top 10 councils that have significant potential for large numbers of new homes and where planning policies will be critical to ensuring maximum numbers of new homes are approved and built.
The top 10 councils are:
1 Blacktown 
2 Camden 
3 Canterbury-Bankstown
4 The Hills
 5 Liverpool 
6 North Sydney
 7 Parramatta 
8 Penrith 
9 Ryde
 10 City of Sydney
The Urban Taskforce believes that transparency of decision making is very important and that this must include the logic behind actual policy decisions. Willoughby City Council, for instance developed a new city centre planning policy based on economic advice by private consultants.
Clearly the economic advice underpins all the planning decisions but despite submitting a Government Information Public Access (GIPA) request council has refused to make the economic reasoning for policies that are now stopping housing supply public.
We are concerned that many councils seem to base policies on economic reports but then refuse to make these reports public. Council Watch will be high-lighting where we believe these reports should be public.
A second group of councils that are important to watch are:
1 Bayside 
2 Campbelltown
 3 Cumberland
 4 Fairfield
 5 Northern Beaches
6 Willoughby 
7 Wollondilly
A third group that may drop out of the Council Watch process over time but will be included initially are:
1 Georges River
2 Inner West
 3 Ku-ring-gai 4 Lane Cove
5 Randwick
6 Woollahra
7 Hornsby 
8 Waverley
9 Sutherland
10 Burwood 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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