New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

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]

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

The inflation result the property market was waiting for

<html><body>
GUEST OBSERVER
The consumer price index (CPI) for June 2017 was released earlier this week showed that over the quarter headline inflation was recorded at 0.2% which took inflation to just 1.9% over the year to June 2017. 
Although annual headline CPI was temporarily within the Reserve Bank (RBA) target range of 2% to 3% over the March 2017, it has been below target for 10 of the past 11 quarters.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/chart-1-1.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/2017/08/04/chart-1-1.jpg" alt="">
Adjusting dwelling value growth for inflation provides valuable insight into the housing market’s performance.  With inflation currently at such a low level, adjusting for it is not resulting in any additional capital cities seeing value decline however, over the longer term it does highlight the significant under performance in terms of value growth for certain cities.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/chart-2-1.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/2017/08/04/chart-2-1.jpg" alt="">
While in nominal terms capital city dwelling values declined in 2008 and then again in 2011-12, in real terms the declines were larger over these two periods and values also declined in 2004-05.  In nominal terms, values fell by -6.1% between March and December of 2008 and by -6.4% between September 2010 and June 2012.  In real terms, values fell by -2.6% between March 2004 and December 2005, by -8.3% between March and December 2008 and by -10.8% between September 2010 and December 2012.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/chart-3-1.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/2017/08/04/chart-3-1.jpg" alt="">
Since the value declines ceased at the end of 2008, only Sydney, Melbourne and Canberra have actually recorded real growth in dwelling values.  In all other cities, real dwelling values are currently lower than they were at the end of 2008 which is now almost nine years ago.  This data really highlights the uneven nature of growth across the capital city housing markets since the end of the financial crisis. It also shows that low mortgage rates alone are not the driver of the much stronger growth in Sydney and Melbourne.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/chart-4-1.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/2017/08/04/chart-4-1.jpg" alt="">
The above chart shows the change in real dwelling values across each capital city relative to their most recent market peaks.  The chart again shows that values are only above their previous peak in Sydney, Melbourne and Canberra.  Brisbane values are -9.3% lower than their peak in March 2008, Adelaide values peaked in June 2010 and are still -6.3% lower.  In Perth, the market peak was September 2007 and values are still -20.0% off their peak and in Hobart values are -11.2% lower than their peak which occurred in December 2007.  Finally, Darwin has seen the largest fall in real dwelling values, down -26.7% from its peak with the peak having occurred in September 2010.
The regularly reported nominal value data is valuable however, it is important and interesting to consider the impact of inflation on dwelling values from time-to-time.  As the data shows, outside of Sydney and Melbourne and to a lesser degree Canberra, dwelling value growth has been extremely weak for a number of years now.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>. 
</body></html>

ckusher-ujnxiKuFQs

Since 2008, only Sydney, Melbourne and Canberra have seen ‘real’ growth in dwelling values

<html><body>
Forster is the slowest locality in NSW to sell a unit, according to Investar’s latest report.
The property investment firm says that it takes 760 days to sell a unit in Forster.
This is followed by Yamba with 740 and Mulwala with 659.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="85">
Suburb
</td>
<td valign="top" width="85">
Postcode
</td>
<td valign="top" width="85">
Bedrooms
</td>
<td valign="top" width="85">
Days on market
</td>
<td valign="top" width="85">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="85">
Forster
</td>
<td valign="top" width="85">
2428
</td>
<td valign="top" width="85">
Studio and 1
</td>
<td valign="top" width="85">
760
</td>
<td valign="top" width="85">
$249,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Yamba
</td>
<td valign="top" width="85">
2464
</td>
<td valign="top" width="85">
3
</td>
<td valign="top" width="85">
740
</td>
<td valign="top" width="85">
$544,500
</td>
</tr>
<tr>
<td valign="top" width="85">
Mulwala
</td>
<td valign="top" width="85">
2647
</td>
<td valign="top" width="85">
2
</td>
<td valign="top" width="85">
659
</td>
<td valign="top" width="85">
$209,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Moama
</td>
<td valign="top" width="85">
2731
</td>
<td valign="top" width="85">
2
</td>
<td valign="top" width="85">
621
</td>
<td valign="top" width="85">
$218,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Batehaven
</td>
<td valign="top" width="85">
2536
</td>
<td valign="top" width="85">
2
</td>
<td valign="top" width="85">
604
</td>
<td valign="top" width="85">
$309,000
</td>
</tr>
</tbody></table>
A one bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-forster-125488150" target="_blank">402/39-41 Head Street</a>, Forster (above) was sold on June this year for $245,000.
It spent 107 days on the market since being listed on February 2017.
Another one bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-forster-124666318" target="_blank">15/22-24 Wallis Street</a>, Forster (below) was sold on March this year for $215,000.
<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/2017/08/03/15_22-24%20Wallis%20Street.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-forster-117825663" target="_blank">303/38-42 Wallis Street</a>, Forster (below) has been listed for $475,000 since September 2014.
<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/2017/08/03/303_38-42%20Wallis%20Street.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-forster-121314886" target="_blank">6/8-12 North Street</a>, Forster (below) has been listed since November 2015 for $499,000.
<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/2017/08/03/6_8-12%20North%20Street.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

NSW's Forster units takes 760 days to sell: Investar

<html><body>
Glen Innes is the location in NSW where it takes the longest time to sell a house, according to Investar’s latest report.
The property investment firm calculates that houses in Glen Innes typically take 791 days to sell.
This was followed by Quirindi with 651 and Narrandera with 614.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="85">
Suburb
</td>
<td valign="top" width="54">
Postcode
</td>
<td valign="top" width="60">
Bedrooms
</td>
<td valign="top" width="97">
Days on market
</td>
<td valign="top" width="113">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="85">
Glen Innes
</td>
<td valign="top" width="54">
2370
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
791
</td>
<td valign="top" width="113">
$395,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Quirindi
</td>
<td valign="top" width="54">
2343
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
651
</td>
<td valign="top" width="113">
$310,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Narrandera
</td>
<td valign="top" width="54">
2700
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
614
</td>
<td valign="top" width="113">
$290,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Tumbarumba
</td>
<td valign="top" width="54">
2653
</td>
<td valign="top" width="60">
3
</td>
<td valign="top" width="97">
592
</td>
<td valign="top" width="113">
$235,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Moree
</td>
<td valign="top" width="54">
2400
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
547
</td>
<td valign="top" width="113">
$381,500
</td>
</tr>
<tr>
<td valign="top" width="85">
Palm Beach
</td>
<td valign="top" width="54">
2108
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
530
</td>
<td valign="top" width="113">
$2,660,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Gloucester
</td>
<td valign="top" width="54">
2422
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
527
</td>
<td valign="top" width="113">
$415,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Deniliquin
</td>
<td valign="top" width="54">
2710
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="97">
525
</td>
<td valign="top" width="113">
$150,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Kyogle
</td>
<td valign="top" width="54">
2474
</td>
<td valign="top" width="60">
3
</td>
<td valign="top" width="97">
525
</td>
<td valign="top" width="113">
$305,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Parkes
</td>
<td valign="top" width="54">
2870
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="97">
524
</td>
<td valign="top" width="113">
$190,000
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-glen+innes-123918494" target="_blank">11 Cramsie Crescent</a>, Glen Innes (above) was sold on May this year for $399,000.
It spent 255 days on the market after being listed since September 2016.
Another four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-glen+innes-106694655" target="_blank">242 Ferguson Street</a>, Glen Innes (below) was sold in February this year for $255,000.
It had been listed since 2010, mostly with a $285,000 asking price. It last sold at $135,000 in 2003.
<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/2017/08/03/242%20Ferguson%20Street.jpg" alt="">
Another four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glen+innes-121181862" target="_blank">101 Wentworth Street</a>, Glen Innes (below) has been listed since November 2015 for $399,950.
Built in 1890 the property was sold in 2010 for $265,000.
<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/2017/08/02/101%20Wentworth%20Street.jpg" alt="">
Another four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glen+innes-104161550" target="_blank">100 West Avenue</a>, Glen Innes (below) has been listed for $395,000 since May 2007 when it came with a $440,000 asking price.
<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/2017/08/03/100%20West%20Avenue.jpg" alt="">
</body></html>

NSW's slowest property market - Glen Innes houses take 791 days to sell: Investar

<html><body>
Units in Melbourne, the NSW Central Coast, the Gold Coast and Newcastle are still at the peak of the market according to the August property clock from Herron Todd White.
Apartments in Ballarat are now at the peak of the market, with the Sydney apartment market starting to decline.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%2010.32.32%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%2010.32.32%20AM.png" alt="" width="669" height="445">
 
Units in Melbourne, the NSW Central Coast, the Gold Coast and Newcastle were at the peak of the market in July, apartments in Cairns, Townsville and the Whitsundays were ranked at the bottom of the market and apartments in Sydney, Ballarat and Dubbo were approaching the peak of market.
In the August report, HTW said Sydney is fast becoming a vertical city, with a change in buyer expectations and a surge in demand for apartment living.
As a result, modern, medium to high density zones are becoming increasingly common with many notable precincts springing up across the city including Green Square at Zetland, Harold Park at Forest Lodge, Discovery Point at Wolli Creek, Central Park in Chippendale as well as developing precincts in Erskineville and Camperdown (to name a few).
"Another example of an investor hot spot is the area known as Kings Cross," HTW said.
"Kings Cross is one of Sydney’s highest density precincts and covers the suburbs of Potts Point, Elizabeth Bay and Rushcutters Bay.
"It is well established, being within two kilometres of the CBD, and has a train station, light commercial buildings and retail spaces.
"Recent changes to laws governing the opening hours of entertainment establishments in the area has allowed the precinct to begin to shed its reputation as a somewhat unsafe nightlife district allowing it to become increasingly popular with investors.
"Investors targeting this area in the past have been seeking the strong rental returns offered by the many small studio and 1-bedroom units.
"It seems to be the trend however that many small studio units have lower levels of capital growth than standard 2-bedroom units for example which we assume is also due to the broader market appeal.
"In western Sydney the new apartment market continues in various degrees throughout all major regional zones with the Liverpool/Fairfield areas as well as Parramatta and The Hills district in particular seeing substantial development.
"The Norwest Railway line currently under construction from Rouse Hill to Epping has resulted in a signi cant increase in unit developments approved or under construction in what is typically considered the burbs, with unprecedented construction occurring particularly in Kellyville.
"This list in western Sydney is continually growing with a record number of unit approvals passed over recent years.
"What these areas have in common is that they all appear to have a high investor contingent although the future of some will depend heavily on an unknown tenant pool with oversupply perhaps becoming a future issue."
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney apartment market in decline, Ballarat units at peak: HTW property clock

<html><body>
<img src="https://counter.theconversation.edu.au/content/80952/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Rising sea levels are widely recognised as a threat to coastal communities worldwide. In Australia, the Climate Council estimates that at least A$226 billion of assets and infrastructure will be exposed to inundation if sea levels rise by 1.1 metres. Another report recommended that global mean sea level rise of up to 2.7 metres this century should be considered in planning processes.
The Queensland state government has commissioned the QCoast2100 program. This program aims to help with the development of coastal climate adaptation plans for Queensland communities exposed to sea-level rise. 
Although the largest population centres in Queensland are in the state’s southeast, several of the most populous regional centres in Australia are located along the Great Barrier Reef coastline between Gladstone and Cape York. These include Townsville, Cairns, Gladstone, Mackay and Port Douglas.
A major task in developing coastal adaptation plans under the QCoast2100 program is to model inundation from a range of scenarios for sea-level rises and assess how assets will be inundated in the future. However, another threat is on the horizon.
How urban centres are protected
Urban centres along the reef’s coastline, which forms the majority of the Queensland coast, are protected from major ocean storms by natural deposits of coastal sediments. These include dunes and associated vegetation such as coastal forests, wetlands and mangrove systems. 
These natural features continue to exist largely because the Great Barrier Reef’s outer reefs dampen incoming ocean waves. Although exposed to the occasional cyclone – which can lead to short-term erosion at specific locations – much of the coastal zone inside the reef is slowly growing out into the sea. 
This increasing buffer zone can form a natural barrier to coastal recession.
A recently released report estimated the total economic, social and icon asset value of the Great Barrier Reef at A$56 billion. By design, this report did not include many of the ecosystem services the reef provides. One of these is its role in reducing the energy of waves that impact the coastline behind the reef.
However, an earlier assessment of the total economic value of ecosystem services delivered by the reef estimated the present coastal protection benefit is worth at least A$10 billion. 
Despite the inherent uncertainties in such assessments, it is clear the reef acts to reduce incoming wave energy and its impacts on cities and towns along much of the Queensland coastline. The total economic value of these benefits is in the billions of dollars.
What role is bleaching playing?
The Great Barrier Reef’s ability to keep protecting the Queensland shoreline, and communities living along it, depends upon the ability of individual reefs in the system to grow vertically to “keep up” with rising sea level.
The jury is still out on whether the outer reefs will be able to keep up with predicted rises. This is an active area of research.
However, it is clear reefs that are extensively affected by coral bleaching will struggle to maintain the essential processes required for productive reef-building. Many reefs are now experiencing net erosion. 
Predictions of ocean warming suggest that bleaching events will become even more common in coming decades. Increasing levels of atmospheric carbon dioxide are also making the oceans more acidic, which makes it more difficult for organisms such as corals to maintain their skeletons, which are made of calcium carbonate. This mineral dissolves more rapidly with increasing acidification, reducing the reef’s capacity to recover from storm damage and coral bleaching.
Therefore, as bleaching events and acidification continue, the outer reefs that protect the Queensland coast from ocean waves will increasingly struggle to perform this function. 
In turn, over time the Queensland coast will potentially suffer from more coastal erosion, which may increase the vulnerability of coastal infrastructure. This effect, combined with rising sea levels leading to more coastal inundation events, multiples the risks to coastal settlements and infrastructure.
<a href="https://theconversation.com/profiles/mark-gibbs-199704" target="_blank">Mark Gibbs</a> is Director, Knowledge to Innovation; Chair, Green Cross Australia, Queensland University of Technology and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
</body></html>

jchancellor-FAypfDUnLy

As a coastal defence, the Great Barrier Reef’s value to communities goes way beyond tourism

<html><body>
<img src="https://counter.theconversation.edu.au/content/81560/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Public housing reform is again agitating the inner suburbs, just as it did four decades ago when citizen action and courageous academic research brought the tower-block model crashing down. 
Michael Jones exposed it as cost-ineffective and socially destructive, but he also discovered a dirty little secret about the Victorian Housing Commission: the system paid for itself because only the “deserving” working class were admitted.
Forty years on, the physical legacy of that heroic era of tower blocks and walk-up flats is shabby and in need of renewal. 
Whereas the Victorian housing program was designed to be self-funding from public rents, these days public housing is the only viable option for an expanding population of older residents, newly settled migrant families, sole parents, people with disabilities and those experiencing chronic physical and mental ill-health, most of whom are on pensions.
But there are new groups in need of social housing: people trapped in the gig economy, hawking their ABNs as drivers, disability carers, child-carers, removalists, tradespeople, casual office workers of all kinds, hospitality workers. They are the growing army of the precariat who may even have a couple of university degrees but who cannot find job security. 
They cannot see, even when they earn good money, a predictable path to home ownership while rents and insecurity rise all around them.
Then there are essential city workers who have a secure job but who need to live near their work. In Melbourne, city hospital nurses should not be commuting from Craigieburn and Frankston; teachers should be able to live near their school; service workers of all kinds should not be travelling for hours to do their jobs. 
All big cities have to deal with this as gentrification and property speculation squeeze the lower-income earners out of the inner city.
Class prejudice: a case study in Flemington
The immediate controversy is in the inner Melbourne suburb of Flemington. Here, the walk-up flats are to be replaced with apartment blocks of varying heights, with one to match the high rises that have to remain. 
The town plan will be denser, with street frontages for apartment buildings, nearby parking and landscaped gardens. 
The Kensington estate overlooking J.J. Holland Park has already had such a makeover. The new public and private buildings are indistinguishable from each other, with gardens cascading down the embankment.
Local residents have several objections to the Flemington proposals. The estate will be too dense and too tall for the surrounding suburb, and its redevelopment has to be funded by selling part of the land to private developers for a mix of social, affordable and shared equity housing. The public component will increase by 10%. 
The residents are supportive of public housing and want more, but more would have to be on the existing footprint, which will increase the population density that they deplore. More importantly, the inhabitants will remain sequestered.
Another objection is that the development is intended to break up the old public estate into a mixed community and that research can be foundthat engineered social mixing doesn’t “work”. 
Certainly, many inner Melbourne families go to extraordinary financial and geographic lengths to ensure their children do not go to school with children from “the flats”. 
The primary school at the edge of the Flemington estate was built for 1,000 and has fewer than 100 students, while all the surrounding schools are bursting at the seams. The same applies in the inner suburbs Carlton and Fitzroy. 
The arguments are more sophisticated — that social mixing is “gentrification by stealth” — but the result remains that public tenants must inhabit a world apart.
But research can also be found that social mixing is working all around us every day. It’s working in streets sprinkled with infill housing, small developments, mixed developments, public apartments in private developments. It already works in Flemington away from the flats and in Kensington, where the two local schools are flourishing. 
Above all there is abundant research to show that concentrating people into public housing estates breeds social exclusion and that’s bad for all of us.
A city needs social and economic diversity to function, but it doesn’t need enclaves and ghettos. And a creative, knowledge city of the future will need to remain affordable for young creatives, just as it needs a mix of people to make it work. 
All great cities are grappling with this downside of gentrification, and public and affordable social housing has to be part of the solution. 
London has teachers, police, nurses and young doctors in council housing. Yet Paris has got it horribly wrong, with its banlieues full of great architecture and human misery that can only make itself heard by burning cars and detonating bombs.
Solutions must embrace diversity
Solutions will be various. They will need imaginative and bold leadership from governments and well-regulated partnerships with the private sector to raise the funds. 
The walk-ups and sequestered public estates of Melbourne have passed their use-by date both physically and socially. 
With land prices so high, the private sector will have to step up and contribute, and its pleas that it’s uneconomic regulated away. In Canberra, public housing is sprinkled throughout the city. Other countries, such as Germany and Japan, can do it and so can we.
But to do all this we also need a new civility in our inner suburbs, a civility that endorses necessary change for the common good above private interests. And we will know that we are succeeding when all our schools represent the diversity that is modern Australia.
<a href="https://theconversation.com/profiles/janet-mccalman-447" target="_blank">Janet McCalman</a> is Professor of Population Health, University of Melbourne.
<a href="https://theconversation.com/profiles/deborah-warr-143875" rel="author">Deborah Warr</a> is Associate Professor, Honorary Principal Fellow, University of Melbourne.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Class divide defies social mixing and keeps public housing stigma alive

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<img src="https://counter.theconversation.edu.au/content/81823/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
We often think of the internet as a levelling, democratising technology – one that extends access to knowledge, education, cultural resources and markets. 
But the net also reflects the social and economic divides we find offline.
Released this week, the second report of the Australian Digital Inclusion Index (ADII) reports on data covering four years of local online participation across three dimensions: online access, digital ability and affordability. Together, the three dimensions produce a digital inclusion score. 
Since 2014, when data was first collected, Australia’s overall digital inclusion score has improved by 3.8 points, from 52.7 to 56.5. In 2016–2017 alone, Australia’s score rose by 2.0 points, from 54.5 to 56.5. 
But there is still a “digital divide” between richer and poorer Australians. In 2017, people in our lowest income households (less than A$35,000 per year) have a digital inclusion score of 41.1, which is 27 points lower than those in the highest income households (above A$150,000) at 68.1. 
When the three dimensions are considered separately, the measures of access and digital ability show consistent improvement from 2014 to 2017. However, the affordability measure has registered a decline since the 2014 national baseline (despite a slight bump in the past 12 months).
<a href="https://www.propertyobserver.com.au/images/2017/08/04/file-20170731-22047-2dilgb.jpg" target="_blank">Click to enlarge</a>
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Online access and digital ability have increased since 2014, but affordability has dropped. <a class="source" href="https://digitalinclusionindex.org.au/" target="_blank">Australian Digital Inclusion Index 2017</a>, Author provided
<h2>The cost of being connected</h2>
Affordability is a key dimension of digital inclusion. 
Internet connectivity is important for accessing a wide range of education, government, health and business services. A decline in internet affordability means Australians on fixed or low incomes risk missing out on the benefits of digital technologies, and falling further behind more connected Australians.
The ADII shows that the cost of data — for both fixed and mobile internet — has declined over 2014-2017. These findings are in line with the ACCC’s ongoing monitoring of prices for telecommunications services, which indicate an average decline in real terms of 3.1% since 2006.
However, when we measure affordability, we are not only looking at the cost of data; we are also interested in what proportion of household income is being dedicated to this service. 
The affordability problem with the internet is different from other key household services where there are price pressures, such as electricity and water. The residential consumption of energy has grown very slowly over the last decade, but prices have increased sharply. 
With the internet, while we are now getting more data for our dollar, our demand for data has dramatically increased. 
A recent report from the Commonwealth Bureau of Communications and Arts Research (BCAR) tracks the affordability of phone and internet use since 2006.
The BCAR report finds that, overall, phone and internet affordability has improved since 2006. However, their data also shows that almost all the gains occurred before 2013, and that, since then, affordability has declined or flat-lined. Further, BCAR’s data suggests that the lowest income households in Australia are now spending almost 10% of their incomes on internet and communications services. In contrast, middle income households are spending around 4% of their disposable income on these services, and for wealthier households, the figure is less than 2%.
<h2>Increasing reliance on mobile</h2>
Some recent and far-reaching changes in our use of technology are evident here: the extent to which the internet has become an integral part of everyday life, the fact that we are spending more time online, and we are doing an increasing range of activities online. In many households, we are also connecting with more devices. 
However, the problem of affordability also reflects another recent development that the ADII highlights: one-in-five Australians now only accesses the internet through a mobile device — and we know that mobile data is considerably more expensive than fixed broadband on a per gigabyte basis. 
Mobile-only use is correlated with a range of socioeconomic factors. The ADII data shows that people in low income households, those who are not employed, and those with low levels of education, are all more likely to be mobile-only.
Despite the benefits of mobile internet, this group is characterised by a relatively high degree of digital exclusion. In 2017, mobile-only users have an overall ADII score of 42.3, 14.2 points below the national average (56.5).
<h2>Digital inclusion is unequal</h2>
In the 2017 report, the ACT, followed by Victoria and New South Wales, are the highest scoring states in the overall digital inclusion score, as they were in 2016. Tasmania remains the lowest scoring, followed by South Australia. 
<a href="https://www.propertyobserver.com.au/images/2017/08/04/file-20170731-22140-1xhre2r.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/2017/08/04/file-20170731-22140-1xhre2r.jpg" alt="">
Australia’s national digital inclusion score in 2017 is 56.5, but varies from state to state. <a class="source" href="https://digitalinclusionindex.org.au/" target="_blank">Australian Digital Inclusion Index</a>, Author provided
The lowest scoring socio-demographic groups in 2017 were households earning less than A$35,000 per year (overall score of 41.1), Australians aged over 65 (overall score of 42.9) and those with a disability (overall score of 47.0). 
The ADII uses data derived from Roy Morgan Research’s ongoing, weekly Single Source survey of 50,000 Australians. These are extensive, face-to-face interviews, dealing with information and technology, internet services, attitudes, and demographics. 
Calculations for the ADII are based on a sub-sample of 16,000 responses in each 12 month period. The index is a score out of 100: the higher the overall score, the higher the level of digital inclusion. An ADII score of 100 represents a hypothetically perfect level of access, affordability, and digital ability. A score of 65 or over is regarded as high; one below 45 as low. 
<h2>A focus on improvement</h2>
An increasing number of Australians are online, but although the costs of data and devices are falling, there is a risk that issues of affordability will leave some of our most vulnerable behind. 
Australians with low levels of income, education and employment are consistently less connected than the rest of the population, with consequences that will become increasingly serious as the digital transformation of government and the economy proceeds.
As an increasing number of essential services and communications move online, the challenge to make the Australian internet more inclusive is becoming more urgent. Affordability is a key area for attention, but so is improving Australians’ digital ability. 
The issue of affordability suggests a range of possible areas for useful policy intervention. If we think it important to subsidise essential utilities such as electricity for low-income Australians, we may need to consider whether an allowance for internet access for essential services might also be necessary.
For the large number of lower-income Australians who rely entirely on mobile devices for internet connections, we will also need to consider new ways to support digital inclusion. These could include unmetered access to essential health and social services, and the further development of secure, public access wi-fi.
<a href="https://theconversation.com/profiles/julian-thomas-393391" target="_blank">Julian Thomas</a> is Director, Social Change Enabling Capability Platform, RMIT University and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Lack of internet affordability may worsen Australia’s digital divide

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<div>APRA released its latest Monthly Banking Statistics for June 2017 yesterday, detailing information on the banking business of individual banks within the domestic market.</div>
<div> </div>
<div>Further strong mortgage growth of +0.63 per cent was reported taking the total for outstanding housing loans to a fresh high of $1.57 trillion.</div>
<div> </div>
<div>The figures officially reported were $1,107,754 million (+0.73 per cent) for owner-occupier mortgages and $552,270 million (+0.44 per cent) for investment mortgages outstanding.</div>
<div> </div>
<div>Thus investment mortgages now officially account for 35.2 per cent of banking loan books, classification issues notwithstanding. </div>
<div> </div>
<div>Investor loan books</div>
<div> </div>
<div>Looking specifically at investor loans, it's clear that none of the major banks is close to the arbitrary 10 per cent 'speed limit' or annual growth cap imposed by the regulator.</div>
<div> </div>
<div>As you can see, of the major lenders Westpac Banking Corporation (WBC) is ramping up its investment loan exposure at the present time. </div>
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<div>Indeed, Westpac (WBC) is presently expanding both sectors of its mortgage book, and has the largest exposure to investment loans overall at $146.8 billion, although Commonwealth Bank of Australia (CBA) has a more substantial loan book in aggregate.</div>
<a href="https://www.propertyobserver.com.au/images/2017/08/04/APRA3.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/2017/08/04/APRA3.jpg" alt=""></div>
<div class="separator"> </div>
<div>Although the majors have wound back growth in investment loans, some other lenders continue to exceed the 10 per cent growth cap comfortably.</div>
<div> </div>
<div>Additionally certain lenders have loan books that are exposed to markets at risk of mortgage arrears, including regional Queensland.</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>.
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pwargent-M4siyDbqQY

No major bank is close to APRA'S 10 percent mortgage growth speed limit

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<img src="https://counter.theconversation.edu.au/content/80965/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A new report by the Australian Housing and Urban Research Institute (AHURI) reveals, for the first time, the extent of housing need in Australia.
An estimated 1.3 million households are in a state of housing need, whether unable to access market housing or in a position of rental stress. This figure is predicted to rise to 1.7 million by 2025.
To put it in perspective, 1.3 million is around 14% of Australian households. This national total includes 373,000 households in New South Wales, where the number is expected to increase by 80% to more than 670,000 by 2025 under the baseline economic assumptions of the modelling.
The first graph below shows the average annual level of housing need to 2025. The second, showing the percentages of households, permits a direct comparison by state. NSW and Queensland are in the worst position. The ACT is calculated to have the lowest proportional level of need.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.17.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.17.48%20AM.png" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.18.59%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.18.59%20AM.png" alt="">
What does this mean for households in need?
Housing need is defined as:
… the aggregate of households unable to access market-provided housing or requiring some form of housing assistance in the private rental market to avoid a position of rental stress.
This includes potential households that are unable to form because their income is too low to afford to rent in the private rental market. These households would traditionally rely on public housing and community housing to meet their needs. However, more and more are being forced into the private rental market, paying housing costs they are unable to afford without making significant sacrifices.
To 2025, on average 190,000 potential households in NSW will be unable to access market housing in a given year. The graph below is the most revealing as it illustrates the gap between affordable housing demand and supply.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.19.54%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.19.54%20AM.png" alt="">
The lack of social housing and subsidised rental housing prevents such households forming under affordable conditions. Many will manage to form but will have to spend well over 30% of their income on housing costs to do so, putting them in a position of financial stress.
The results also reveal the increasing pressure the affordable housing shortfall places on the housing assistance budget, notably Commonwealth Rent Assistance.
The absence of a significant new supply of affordable housing – there has been no large-scale program since the National Rental Affordability Scheme (NRAS) began in 2008 – has left state governments trying to find ways to plug the affordability gap.
Responses have been largely on the demand side, such as first home buyer concessions recently announced in NSW. But such incentives are no use for low-income households. To help them, intervention needs to be on the supply side.
How does Australia compare?
The AHURI research built on ideas emerging from research into housing need in the UK. It revealed interesting differences between the two countries.
UK government policy prior to 2010 emphasised the role of the planning system in helping to substantially increase affordable housing supply. This reflected evidence from England and Scotland that found a link between low levels of new housing supply and higher and rising house prices.
In this project, we found plenty of evidence of deteriorating housing affordability in Australia. But we did not find a particularly strong relationship between housing supply and  price growth. This might reflect how other drivers of deteriorating housing affordability are more important in Australia – such as tax incentives for investors.
These findings suggest we need to look more closely at how new supply and investment demand interact, and in what circumstances boosting new supply is likely to improve affordability.
From our analysis of individuals’ labour market circumstances and incomes, it was also clear that the Australian workforce has not escaped the erosion of secure, full-time employment opportunities seen in other countries.
The combination of widespread insecure, part-time employment opportunities, high housing costs and low supply of rented social housing means the housing of many working Australians is extremely precarious.
How was the research done?
The research modelled housing need at the state and territory level to 2025 using an underlying set of economic assumptions and interrelated models on household formation, housing markets, labour markets and tenure choice.
The models were underpinned by data from the Housing, Income and Labour Dynamics in Australia (HILDA) Survey, the Australian Bureau of Statistics (ABS) and house price and rent data.
This research delivers, for the first time in Australia, a consistent and replicable methodology for assessing housing need. It can be used to inform resource allocation and simulate the impact of policy decisions on housing outcomes.
The intention is to further develop the model to assess housing need at the level of local government areas.
So, what are the policy implications?
The scale of the affordable housing shortfall requires major action from federal and state governments.
NRAS had its problems but at least delivered a supply of below-market housing. Australia cannot rely on the private sector to deliver housing for low-income households without some form of government subsidy as it is simply not profitable to do so.
The question is what government is going to be prepared, or even able, to spend big to close the affordable housing supply gap?
<a href="https://theconversation.com/profiles/steven-rowley-201914">Steven Rowley </a>is Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University.
<a href="https://theconversation.com/profiles/chris-leishman-391783">Chris Leishman</a> is Professor of Housing Economics, University of Adelaide.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Affordable housing shortfall leaves 1.3m households in need and rising – study

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Residential values in Illawarra continue to increase, according to Herron Todd White’s latest report.
The property advisory firm says that the greater Wollongong area will become "unaffordable" in the future.
“Values continue to increase across the Illawarra and as a result, those with $500,000 to spend have less and less to purchase.
“North of Wollongong, possibilities are limited to older 2-bedroom townhouses or units in suburbs such as Corrimal, Bellambi, Woonona and Thirroul.
“It may also be possible to purchase a bush block in Wombarra or Coledale, however there wouldn’t be a building entitlement and the purchaser would be taking a big risk if they were hoping to get approval to build a dwelling.
“Around the Wollongong CBD it is getting hard to find 2-bedroom units even in older complexes for less than $500,000.
“There are plenty of 1-bedroom units available priced from about $375,000,” the report stated.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-wollongong-125080534" target="_blank">108/19 Market Street</a>, Wollongong (above) has been listed for $350,000.
South of the CBD are more affordable, but will be older styled Herron Todd White comments.
“Moving south of the CBD and we come across the first suburbs where $500,000 will be able to buy a single residential dwelling.
“Locations such as Cringila, Warrawong, Lake Heights and Berkeley still offer older style small 2- or 3-bedroom dwellings although these will be in fair condition.
“Units, villas and townhouses are all the most likely property types that can be purchased in the Shellharbour for under half a million dollars.
“Most 2-bedroom strata properties are priced under this mark and in areas such as Albion Park Rail it is possible to purchase an older style 3-bedroom townhouse for between $450,000 and $500,000,” the report commented.
A three bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-nsw-albion+park+rail-125978622" target="_blank">3/38 Bateman Avenue</a>, Albion Park Rail (below) has been listed for between $465,000 to $485,000.
<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/2017/07/25/3_38%20Bateman%20Avenue.jpg" alt="">
Herron Todd White says that new residential land releases are available for less than $500,000.
“Not to be forgotten are the new residential land release areas where regular 300 to 600 square metre vacant lots are available for less than $500,000 in estates such as Calderwood, Horsley and Wongawilli.
“Growth in the Shoalhaven residential market has also been strong and there are now many houses in Nowra that are no longer available for less than $500,000.
“However in Nowra and surrounding suburbs it is still possible to purchase a 3- or 4-bedroom family home under $500,000 and this is the same for locations such as Culburra Beach, Sanctuary Point and Sussex Inlet.
“As an investment we would recommend areas still deemed affordable in the Shoalhaven such as properties in and around Nowra and the coastal suburbs of Callala Beach, Callala Bay and Culburra Beach.
“While all locations have had sustained growth for a while now, we believe that the Shoalhaven will continue into the short to medium term as the greater Wollongong region becomes more unaffordable and road links get better and better with the Berry bypass underway and the Albion Park bypass planned,” the report stated.
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