Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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]

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

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 middle to outer eastern Melbourne suburbs are becoming unaffordable, according to Herron Todd White’s latest July report.
The property data firm says that there are some areas where $500,000 can get you a two bedroom apartment or unit.
“Within the middle to outer eastern suburbs, $500,000 will not enable purchase of a dwelling, however there are some areas where 2-bedroom units or apartments are affordable.
“In Boronia the median unit sale price in March 2017 was $496,944 (RP Data) which is expected to achieve a rental return of $333 per week reflecting a yield of approximately 3.48%.
“Similarly, the median unit sale price in Bayswater in March 2017 was $467,000 (RP Data) which is expected to achieve a rental return of $330 per week reflecting a yield of approximately 3.67%.
“If buyers desire to be closer to the Melbourne CBD, apartments provide a more affordable option in suburbs such as Mitcham, Forest Hill and Blackburn.
“For example, <a href="https://www.realestate.com.au/sold/property-apartment-vic-blackburn-124547918">410/394-398 Middleborough Road</a>, Blackburn sold on 27 April 2017 for $492,000.
“It last sold in 2013 for $528,000.
“The apartment comprises 2-bedrooms, 2-bathrooms and two basement car parking spaces.
“If the market keeps firming, soon buyers with a budget of $500,000 might be priced out of the 2-bedroom unit or apartment market, however 1-bedroom apartments would still provide an alternative.
“Last year, 2-bedroom dwellings were under $500,000 in Boronia and Mooroolbark, however currently the median price for a 2-bedroom house in Boronia is $572,750 (realestate.com) and $526,000 in Mooroolbark (realestate.com), so buyers with a budget of $500,000 can no longer afford these properties.
“A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mooroolbark-125860598">17 Old Kent Street</a>, Mooroolbark (below) has been listed for between $550,000 to $590,000.
“Built in 1975 it last sold in 2015 for $400,000, in 2009 for $313,000, 2007 for $334,000 and in 2002 for $229,000,” the report stated.
<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/2017/07/11/17%20Old%20Kent%20Road.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Middle to outer east Melbourne becoming unaffordable for sub-$500,000: HTW

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Adelaide remains the most affordable capital cities despite increasing median prices, according to Herron Todd White’s latest July report.
The property data firm says that properties are still available under $500,000.
“Whilst Adelaide remains the most affordable mainland capital city in Australia, the current median price of $432,000 (current as at 31 May 2017 according to Corelogic Hedonic Home Value Index) has increased from a median price of $410,400 (as at 30 April 2016).
“Although there are still countless properties available around $500,000, there is an increasing scarcity of detached dwellings in this price range within proximity of the CBD,” the report stated.
The market for older units and townhouses remains flat Herron Todd White advises.
“The market for older units and townhouses regardless of location remains relatively flat.
“We have focused on detached housing for investors.
“It is reasonable to expect detached housing at $500,000 or below within 20 kilometres of the city but as noted, the closer one moves towards the city, the more the quality and size of detached housing decreases at this price level.
“Demand for older units and townhouses in locations further from the city may begin to increase should prices for detached housing continue to increase,” the report advised.
New apartments in Adelaide’s CBD are attracting investors, Herron Todd White reports.
“There is an increasing supply of new apartments in the Adelaide CBD which are tending to attract investors.
“It is viewed as a more attractive option than older style inner city units and townhouses due to stamp duty rebates and potential tax reduction strategies.
“The market for properties in proximity of the CBD at this price level continues to be extremely buoyant,” the report commented.
Areas with increased in-fill development are finding driving demand from investors and developers Herron Todd White warns.
“In areas with increased in-fill development, investors and developers have been driving demand and competing with first home buyers attempting entry into the market.
“In an area such as Flinders Park situated six kilometres west of the CBD, buyers seeking properties for $500,000 a couple of years ago have now been priced out of the market as the market has improved in that area within a short period of time.
“The suburb is situated adjacent to the linear park and in between the city and the sea and has become an increasingly popular suburb as a result.
“Popular areas that offer properties around $500,000 include suburbs such as Pasadena, Hope Valley and Croydon Park.
“Pasadena is situated to the south of the Adelaide CBD and is well serviced by the popular Pasadena Foodland and shopping centre.
“Whilst sections of the suburb are undergoing some in-fill development, this suburb offers older style dwellings reasonably close to the city at an affordable price level.
“Hope Valley is situated further from the city, approximately 13 kilometres to the north-east.
“This suburb is well serviced by a number of shopping centres including Tea Tree Plaza and is also situated in proximity to the Tea Tree Plaza interchange which provides easy access to the Adelaide CBD via the O-Bahn busway.
“Croydon Park is situated to the north-west of the city adjacent to the popular suburbs of Croydon and West Croydon.
“It provides a more affordable alternative to these areas and is also adjacent the Torrens to Torrens roadway which is currently under construction.
“This will further improve access to the north and south of the city,” the report warned.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-sa-pasadena-124652922" target="_blank">76 Auricchio Avenue</a>, Pasadena (above) has been listed for between $595,000 to $650,000.
Similarly a two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-croydon+park-125793478" target="_blank">5/164 Croydon Avenue</a>, Croydon Park (below) has been listed for sale.
<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/2017/07/11/5_164%20Croydon%20Avenue.jpg" alt="">
Interest within the $500,000 to $800,000 are continuing Herron Todd White states.
“Real estate agents continue to report high levels of interest in the $500,000 to $800,000 price range within proximity of the city.
“Given decreasing supply of properties at this price level, demand will continue to be strong.
“Depending on location and general property features which tend to vary greatly, an expected rental yield for properties at this price level would be around 4% to 5%,” the report stated.
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Adelaide remains the most affordable despite increasing prices: HTW

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Many Tasmanian properties are available around the $500,000 range, according to Herron Todd White’s latest July report.
The property investment firm says that however this is more concentrated in the northern parts of Tasmania.
“Properties for sale with asking prices of around $500,000 in the greater Hobart region are less concentrated in particular suburbs relative to Northern Tasmania.
“Being a capital city with a significantly larger population, capital entry requirements tend to be higher, suburbs are spread over a larger geographic area and contain greater diversity of property types.
“Sandy Bay, Kingston and Lindisfarne are Hobart suburbs where the greatest number of sales have occurred within the half a million dollar price point.
“Sandy Bay has an air of exclusivity and is popular due to its position immediately south of the city with the Derwent River its southern border.
“Contained within the suburb are the University of Tasmania campus, casino, local shops and recreational facilities.
“Due to Sandy Bay’s exclusivity and nearness to the city, units are the predominant type of residential property that can be purchased within this price range although some smaller homes are still within reach.
“To purchase a house in Sandy Bay you would need capital reserves in excess of half a million dollars as approximately 20% of the suburb’s recent sales were in excess of $1 million with a top sale of $6.5 million.
“An example of what you could expect to purchase in Sandy Bay with a $500,000 budget is a 3-bedroom, 1-bathroom, circa 1990s, partially updated, 130 square metre villa with single lock up garage on the suburb’s periphery,” the report stated.
A two bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-tas-sandy+bay-125863146" target="_blank">6/4 Quayle Street</a>, Sandy Bay (above) has been listed for over $530,000.
Built in 1987 the property was last sold in 2014 for $395,000, in 2008 for $320,000 and in 2002 for $185,000.
Kingston is Tasmania’s fastest growing region according to Herron Todd White.
“Kingston is reported to be Tasmania’s fastest growing region and is a 25 minute commute to the city via the southern outlet.
“It is a self-contained satellite centre with major and local shopping centres, public and private schools and recreational facilities.
“Recent sales in Kingston indicate that purchasers with $500,000 to spend could expect to buy an older style home with a living area ranging from 120 to 160 square metres.
“If you can push the budget closer to $600,000 you could purchase a modern, 200 square metre home on a 900 square metre block,” the report commented.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-kingston-125813898" target="_blank">13 Greenhill Drive</a>, Kingston (below) has been listed for between $580,000 to $630,000.
Built in 2004 the block of land was last sold in 2003 for $55,500.
<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/2017/07/13/13%20Greenhill%20Drive.jpg" alt="">
Herron Todd White advises that Lindisfarne properties with water views are available for half a million dollars.
“Meanwhile in Lindisfarne on Hobart’s eastern shore you could purchase a modern, 3-bedroom, 2-bathroom house, with double lock up garage and water views on a smaller, 460 square metre block.
“If you prefer privacy a slightly higher spend could secure you 1.5 hectares with an older style, renovated, 3-bedroom and 1-bathroom house.
“Lindisfarne residents have a 15 minute commute to the city via the Tasman Bridge,” the report advised.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-lindisfarne-125877038" target="_blank">11 Corinna Road</a>, Lindisfarne (below) with views has been listed for over $550,000.
Built in 1952 the property was last sold in 1995 for $96,000 and in 1988 for $82,000.
<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/2017/07/13/11%20Corrina%20Road.jpg" alt="">
North, central and inner city properties historically have the best value Herron Todd White comments.
“$500,000 in the north of Tasmania can buy you a significant residential property relative to other states in Australia.
“Historically in the north, centrally located or inner city property has best held its value.
“Recent sales data show that the greatest numbers of sales within the $500,000 price range have occurred in the suburbs of Grindelwald, Trevallyn, Newstead and Launceston,” the report commented.
Grindelwald attracts purchasers who prefer large homes Herron Todd White states.
“Grindelwald is a commuter suburb (approximately a 25 minute drive from downtown Launceston) developed around the theme of a Swiss village in the 1980s.
“Grindelwald is attractive to purchasers who prefer larger homes on larger parcels of land in a rural residential setting.
“Homes that have recently sold in Grindelwald range in size from 200 to 260 square metres of living area on parcels of land ranging between 800 and 2,600 square metres.
“The majority of these homes were built in the 1980s to 1990s and have achieved sale prices between $480,000 and $528,000,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-grindelwald-125909634">39 Atkinsons Road</a>, Grindelwald (below) has been listed for $545,000.
Built in 1992 it was last sold in 2016 for $445,000 and in 2005 for $395,000.
<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/2017/07/13/39%20Atkinsons%20Road.jpg" alt="">
Purchasers in Trevallyn are likely to have a property with a view Herron Todd White says.
“If you live in Trevallyn, it’s likely you prefer to have a view as Trevallyn sits on a hillside overlooking the Tamar River and borders the northern side of Cataract Gorge.
“Along with spectacular views come steeper blocks.
“Some properties while having larger block sizes have decreased functionality due to the block gradient and vehicular access may be more difficult.
“For around half a million dollars in Trevallyn, recent sales indicate that you could purchase an older style home (built from the 1970s to early 2000s), offering from 170 up to 300 square metres of living area on blocks ranging from 800 to 2,000 square metres.
“Sale prices for such homes have ranged from $403,000 to $510,000,” the report commented.
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-trevallyn-124346546">1 Gourlay Court</a>, Trevallyn (below) was sold in January 2017 for $530,000.
Built in 2004 it was last sold in 2012 for $485,000 and in 2002 for $42,000.
<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/2017/07/13/1%20Gourlay%20Court.jpg" alt="">
Newstead is popular due to its proximity to central Launceston Herron Todd White advises.
“Newstead is a popular family suburb due to its proximity to central Launceston and its range of services such as sporting facilities, shopping and restaurants.
“Homes within the $500,000 range in Newstead tend to be on its periphery where recent sales indicate you could purchase a modern home with 170 square meters of living area on just under 900 square meters of land.
“Alternatively for just over $300,000 you could purchase a smaller, 1940s built home that requires renovation, closer to town, with 110 square metres of living area and a block size just under 700 square metres.
“To purchase larger, established homes in north-west Newstead you would need a budget in excess of $500,000,” the report advised.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-tas-newstead-125678642">59A Cypress Street</a>, Newstead (below) has been listed for $320,000.
Built in 1990 the property was last sold in 2003 for $125,150.
<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/2017/07/13/59A%20Cypress%20Street.jpg" alt="">
Central Launceston properties can be purchased for around half a million but require renovations and are often set on steep locations Herron Todd White warns.
“For those wanting to be in Central Launceston residential homes can still be purchased for around $500,000 however such homes tend to be on the periphery, require renovation and are often in very steep locations.
“An example of such a home that sold recently for $450,000 is a terrace, located in one of Launceston’s steepest streets that has 206 square meters of living area over two floors that requires renovation and has car accommodation of a single carport situated on a 273 square metre block,” the report warned.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-launceston-125540398">143 Canning Street</a>, Launceston (below) has been listed for over $545,000.
<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/2017/07/13/143%20Canning%20Street.jpg" alt="">
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Choice aplenty in Tasmania for $500,000: HTW

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Shopping centre landlords are charging retailers “crazy” rents, franchise operator Stan Gordon has said, while urging landlords to be realistic or retailers would quit their malls in droves.
Gordon is managing director of Franchised Food Company, which has more than 200 outlets across brands like Cold Rock, Whippy, Pretzel World and Trampoline.
"The retail market is not fantastic, it's very tough. All we are asking for is fairness. We can't be in malls just to break even while making the shopping centre owners rich," Gordon was cited as saying by The Australian Financial Review.
He said the owners of Chadstone Shopping Centre in Melbourne (Vicinity Centres and the Gandel Group) asked three of its franchisees "crazy rents" when they were given the opportunity to move back in after refurbishments. 
"We told them we cannot make it work at these rents," Gordon said. 
A spokeswoman for Vicinity Centres declined to comment.
Gordon said retailers are being held for ransom by some shopping centres that had annual rent increases of 5 per cent, almost 3 percentage points more than inflation.
"Yes, these shopping centres are often undergoing multimillion-dollar upgrades – another reason for the unsustainable increases in rent – but this is only in response to the rise of online shopping," he told the AFR.
Fast-food franchise SumoSalad put two of its 20 companies into administration in June to force landlord Westfield to negotiate on rents and is close to a lower rent agreement, according to recent developments.
Gordon pointed out that staff penalty wages should drop if retailers are to remain profitable in the high-rent environment.
Claims that shopping mall landlords are oversaturating their centres with food outlets were rebutted by Peter Allen, the chief executive of Westfield landlord Scentre Group.
Allen said while retail space allocated to "food catering" was growing by 4.5 per cent, food sales were increased by 6.8 per cent.
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Shopping mall landlords charging 'crazy rents', says franchisor Stan Gordon

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A ground floor atrium will be a feature of a new laneway development linking Melbourne's South Yarra station and Chapel Street.
The atrium is part of Forrest Hill precinct's latest apartment project Yarra One and is designed by Fender Katsalidis Architects.
The atrium will feature a stage area with tiered seating for performances.
The atrium will connect Yarra Lane to Daly Street flows through to Chapel Street.
Andrew Leoncelli, managing director for residential projects at CBRE said there has been a true commitment to making a positive contribution to South Yarra’s growing community with the creation of this atrium.
“The atrium is an example of placemaking at its best and will transform the Forrest Hill precinct with its diverse range of amenity for both residents and the wider community.”
Karl Fender, founding director of Fender Katsalidis Architects said Yarra One’s atrium takes inspiration from Melbourne’s renowned network of laneways – the lifeblood of the city’s built environment – bustling with cafes, galleries, specialty shops and eclectic boutiques.
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Atrium and performance space slated for Yarra One development

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House prices rose in 27 out of the 45 world's housing markets to publish housing statistics for the first quarter of 2017, according to the Global Property Guide.
The Global Property Guide noted European house price rises continue unabated.
Six of the ten strongest housing markets in the global survey are in Europe.
House prices have risen in 17 of the 23 European housing markets for which figures were available during the year to Q1 2017.
Iceland remains the strongest housing market in Europe and second best performer in our global survey, amidst spectacular economic growth.
Nationwide house prices surged 16.01% y-o-y in Q1 2017, the highest increase since Q1 2006.
This surge is attributable to strong demand, coupled with limited housing supply, especially in the capital city of Reykjavik.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Q1%202017%20Inflation.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/2017/07/03/Q1%202017%20Inflation.jpg" alt="">
Hong Kong was the world's strongest housing market during the year to Q1 2017, despite higher stamp duties for non-first time homebuyers.
China's housing market continues its upward march.
The Philippines also had strong price rises, continuing the pattern of the past six years, amidst continuing economic growth.
Japan, Vietnam, and Taiwan posted more modest house price rises.
Hong Kong's housing market is now accelerating, despite the higher stamp duties for non-first time homebuyers introduced in November 2016.
Residential property prices surged by 17.27% during the year to Q1 2017.
House prices rose 3.93% during the latest quarter.
China continues to experience double-digit house price rises.
In Shanghai the price index of second-hand houses rose by 13.16% during the year to Q1 2017, after y-o-y rises of 21.68% in Q4 2016, 24.86% in Q3 2016, 20.73% in Q2 2016, and 16.99% in Q1 2016.
However, house prices in Shanghai fell by 0.95% during the latest quarter.
Japan's housing market is slowing again, despite a weak economy.
In Tokyo, the average price of existing condominiums rose by 2.93% during the year to Q1 2017.
Quarter on quarter, residential property prices in Tokyo fell 0.81% during the latest quarter.
Vietnam's housing market remains sluggish, despite a booming economy and the recent introduction of the housing laws that allow foreigners and overseas Vietnamese to legally own, sell and transfer real properties.
House prices rose by just 1.13% y-o-y in Q1 2017.
Quarter-on-quarter, house prices fell 1.06% during the latest quarter.
Taiwan's nationwide house prices rose by 0.69% during the year to Q1 2017, in contrast with a y-o-y decline of 7.65% a year earlier.
Quarter-on-quarter, house prices increased 1.65% during the latest quarter.
Other Asian housing markets have lost steam.
House prices fell in four of the ten Asian markets for which figures were available during the year to Q1 2017.
Singapore's housing market is still weak.
House prices fell by 3.45% during the year to Q1 2017, after a 2.35% y-o-y decline during the same period last year. House prices fell by 0.56% q-o-q during the latest quarter.
Thailand's property market continues to lose steam.
Nationwide house prices fell 1.37% during the year to Q1 2017, the second consecutive quarter of y-o-y decline.
Quarter-on-quarter, house prices increased by 0.1% during the latest quarter.
In South Korea the nationwide housing purchase price index fell by 1.35% y-o-y in Q1 2017, in contrast to the rise of 1.81% a year earlier.
House prices fell by 1.1% q-o-q during the latest quarter.
In Indonesia, residential prices in the country's 14 largest cities fell by 0.98% during the year to Q1 2017, the ninth consecutive quarter of y-o-y declines.
House prices fell 0.33% q-o-q during the latest quarter.
The pace of price-rises in the U.S. housing market is slowing gradually, though homebuilder sentiment remains bullish.
Canada meanwhile is in the middle of a house price boom.
The S&amp;P/Case-Shiller seasonally-adjusted national home price index rose by 3.29% during the year to Q1 2017 (inflation-adjusted), the slowest pace since Q3 2014.
House prices increased by only 0.17% during the latest quarter.
The impression of a slowing pace of price rises was supported by Federal Housing Finance Agency's seasonally-adjusted purchase-only U.S. house price index, which rose by 3.37% y-o-y in Q1 2017 (inflation-adjusted), down from 4.87% a year earlier.
The index rose 0.6% q-o-q in Q1 2017.
Canada's house prices are rising strongly, despite repeated market-cooling measures.
House prices in the country's eleven major cities surged by 11.7% during the year to Q1 2017, sharply up from a y-o-y rise of 5.67% the previous year, and the biggest annual increase since Q3 2006.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Q1%202017%20Nominal.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/2017/07/03/Q1%202017%20Nominal.jpg" alt="">
The average price of new apartments in Greater Santiago fell by 0.37% y-o-y in Q1 2017, in sharp contrast with the annual rise of 6.75% the same period last year.
However on a quarterly basis, house prices actually increased 4.72% in Q1 2017.
Mexico's nationwide house price index rose by a meagre 0.17% during the year to Q1 2017, a sharp slowdown from the y-o-y rise of 5.26% the previous year.
On a quarterly basis, house prices fell 2.24% in Q1 2017.
New Zealand's house price rises have sharply accelerated, amid post-earthquake rebuilding.
The nationwide median house prices rose by 7.26% during the year to Q1 2017, up from 3.63% the previous year.
House prices rose by 4.11% q-o-q during Q1 2017.
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House price rises in majority of markets worldwide

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GUEST OBSERVER
The most important result from the minutes of the monetary policy meeting of the RBA Board was to finally nominate the Bank’s estimate of the “new neutral real interest rate for Australia”.
In other countries it has been recognised for some time that the neutral rate has fallen particularly since the global financial crisis in 2007.
Prior to that, it had generally been accepted that the neutral nominal cash rate was around 5%.
The minutes highlight that the Bank now believes that the neutral nominal cash rate is around 3.5% indicating a neutral real rate of 1% on the basis that medium term inflation expectations are around 2.5%.
Consequently any move back to neutral would involve around 200 basis points in tightening.
Note that the analysis refers to the “neutral nominal cash rate”.
So, for instance, the increases in mortgage rates that we have recently seen (average of 0.28% across the whole book including 0.76% for interest-only investors) would not be taken into account as part of the 200 basis points in tightening.
If the mortgage rate increased by a further 200bps, the evidence of 2011 suggests that house prices would likely fall – hardly what one might assess as a neutral policy stance.
Overall, in the current circumstances, this neutral rate, looks too high.
Arguably, the discussion around the neutral rate can be interpreted as laying the foundation for a tightening cycle.
However with uncertainty around wages and inflation; the consumer; and, of course, the labour market and housing it would be inappropriate to over interpret this signal.
Our specific  interest in the minutes is around the revised assessment of the housing market; the labour market and possibly the exchange rate.
Certainly the final paragraph in the “Considerations for Monetary Policy” section notes that “nevertheless they assess that current economic conditions in Australia and the outlook for growth and inflation meant that developments in the labour and housing markets continued to warrant careful monitoring”.
The commentary around the labour market is definitely more confident.
Not only do the minutes refer to “employment growth had been strong in May for the third consecutive month” but it is also noted that “forward looking indicators of labour demand … had remained positive and generally consistent with the patterns of employment across states and industries”.
This commentary suggests that the Board is reasonably comfortable that the recent upswing in employment can be sustained.
The only note of caution around the recent developments is that “the underemployment rate … had remained elevated”.
We are aware that subdued wages growth is a significant concern for the Bank.
That remains a consideration.
However, the minutes did point out that the recent Fair Work Commission decision to increase award wages and the national minimum wage by 3.3% (affecting around 40% of workers) was markedly higher than the 2.4% awarded in 2016.
Commentary around the housing market continued to note that conditions vary across the country, although the “auction clearance rates in Sydney and Melbourne had softened recently suggesting that conditions in these markets had eased somewhat”.
It was also noted that the impact of the prudential supervision measures were yet to have their full effect.
At the time of the board meeting, the Australian Dollar was trading at around USD 0.76.
Not surprisingly, the minutes therefore retain the standard terminology “an appreciating exchange rate would complicate this adjustment”.
With the currency now at USD 0.78, the Board is likely to be more concerned about its impact on the rebalancing process.
As the minutes point out, financial market pricing for RBA policy has “shifted to indicate some probability of an increase in the cash rate by mid-2018”.
The most important development behind this outlook is the improved conditions in the labour market.
As noted, the Bank is encouraged that lead indicators continue to point to further improvements in conditions.
The unemployment rate is now only 0.5% above the generally accepted full employment rate for Australia.
A sustained move towards 5% would certainly encourage the Bank to consider higher rates.
However, there would need to be some evidence that wage pressures were also responding since underlying inflation remains anchored below 2%.
The implications for policy from the housing market are less clear.
The macroprudential policies have already resulted in higher mortgage rates, and as noted in the minutes, pressures in the housing market appear to be easing.
However, until the full impact of the macroprudential policies can be assessed, raising interest rates might prove to be premature.
Recall that the Bank’s current forecasts for GDP growth in 2018 are an above trend 3.25%. That contrasts with our own forecast of only 2.5%.
Our forecasts envisage ongoing caution from the consumer; no significant recovery in non-mining investment and detraction in growth from housing construction.
Today’s minutes do not really indicate that the Bank is sufficiently confident that this profile will be averted .It will need a lot more time to confidently make that assessment.
Furthermore, the growth profile which we described is unlikely to be consistent with sustained improvement in the labour market.
While the short-term outlook may be positive, we expect that the unemployment rate will edge back towards 6% over the course of 2018.
The Bank will be cautious to confirm its positive outlook before the need to raise rates.
Despite a more confident Bank and its decision to set out its new so-called “neutral target”, our forecasts remain consistent with the cash rate staying on hold throughout 2017 and 2018.
Bill Evans is the chief economist at <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
<a href="https://www.rba.gov.au/monetary-policy/rba-board-minutes/2017/2017-07-04" target="_blank">Link to minutes</a>
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Reserve Bank's estimate of the 'new neutral real interest rate for Australia': Bill Evans

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All Australian homes will have broadband connectivity by 2020, according to a senior executive of NBN Co tasked with rolling out the National Broadband Network which promises to deliver super fast internet.
NBN Co’s chief network deployment officer Kathrine Dyer has said that no premises will be left unconnected by the time the rollout is completed in 2020, according to The Australian.
“There will be a lot of night works, additional traffic management and higher level of consultation with council on land access,” Dyer said.
Nearly 200,000 premises faced lengthy delays connecting to the network despite the fact that the NBN has been rolled out in their neighbourhoods.
These “service class 0” premises, which make up close to 5 per cent of the 5 million or so premises ready to receive NBN service, have been put in the “too-hard ­basket” by NBN Co.
Dyer said some premises had been left in limbo and NBN Co was working to ensure they would not fall further behind.
“This year is the year we look at these premises and start making them serviceable,” she was cited as saying by The Weekend Australian.
Back in 2015, when NBN Co revealed its plan to reach 9.1 million homes by 2018, its chief executive Bill Morrow had said, “This is a bold plan that puts us in striking distance of our ultimate goal of delivering better broadband to every Australian by 2020.
Two years down the line, the project has been marred by delays and criticism. In September 2016, a joint standing committee of parliament was established to inquire into the NBN rollout. 
Dyer said the ­decision to leave some premises behind was due to several factors, not just technology. 
“We had some examples where we would get to multi-dwelling units (apartments) and the body corporate would tell us to come back in 12 months,” she said.
Critics, however, say the decision to bypass homes was more about meeting aggressive rollout targets and keeping costs down.
Recently, Rod Tucker, a telecommunications expert and professor at the University of Melbourne, told the Senate committee overseeing NBN that Australia’s FTTP fibre-to-the-premises connections were costing $4,405 on average and were among the most expensive in the world.
With the rollout entering the metro areas, the next 12 months are expected to be critical for NBN Co as connecting metro suburbs will require significant civil works and better co-ordination between NBN Co and the retail service ­providers.
Dyer said the biggest pain for consumers was a lack of clarity about on where NBN Co’s responsibility ended and the retail service providers took over. 
“We are all on a journey here and there’s a learning curve here for providers and residents,” she said.
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NBN to connect everyone by 2020: Kathrine Dyer

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The latest Census data shows mortgage stress has eased, but of course even a small interest rate rise will send many households, and even the economy, back onto struggle street.
The national research by the Grattan Institute showed highly indebted households were clustered on the fringes of capital cities rather than in the wealthiest suburbs of the inner ring.
Sydney suburbs under mortgage stress included Preston, Hoxton Park, Carnes Hill, West Hoxton, Middleton Grange, Hinchinbrook and Chullora.
The suburbs deemed as not under mortgage stress included North Bondi, Tamarama, Bronte, Double Bay, Bellevue Hill, Sydney, Haymarket, The Rocks, Balmain, Newtown, Camperdown and Darlington.
Mortgage stress was defined as spending 30 per cent or more of household income on home loan repayments.
"In 2011, about 10 per cent of households had mortgage stress. Today it's only 7 per cent," Grattan Institute chief executive John Daley said.
"What the census data shows is that the areas of high stress are a little further out from the metropolitan areas in 2016 than in 2011 because new housing estates are further out," Mr Daley noted.
Although the outer ring house prices are cheaper, incomes are likely lower and loan-to-value ratios are higher because more people have actually only just purchased a property.
Our overall low interest rates have made it easier for most households to meet mortgage repayments.
"If interest rates went up 2 percentage points, which is possible, stress levels would be the highest on record apart from the squeeze in 1989, which scarred a generation of home-owners," John Daley said. 
The Reserve Bank of Australia's recent data on household debt show it stood at 190 per cent of annualised disposable incomes confirming Australia has one of the world's highest private debt burdens.
Treasurer Scott Morrison has acknowledged this private debt load.
It was a reason the government supported moves by the Australian Prudential Regulation Authority and Reserve Bank's to further crackdown on interest-only lending especially for home buyers. 
The regulatory response has helped slow price growth in Sydney which was rising at an annual pace of almost 20 per cent in late 2016. It is now down to 12 percent annual growth according to CoreLogic.
The systemic risk of people not being able to repay their home loans appears small. 
In fact the proportion of people who have very high exposure to a fall in house prices – with loan to valuation ratios above 90 percent – has been in decline. 
The basic picture is one of prudent households, rather than a community of people gambling on house price rises, Rodney Maddock, Adjunct Professor of Economics, Monash University said recently.
None of this is to deny that house prices can fall, and that interest rates will rise, but somehow most of us will find a way to endure any challenging landscape.
This article first appeared in the Daily Telegraph.
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jchancellor-FAypfDUnLy

Mortgage stress eases in the city but future rate rises will impact the fringe households

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<div class="section">
<div class="layoutArea">
<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">Reserve Bank Board minutes: The minutes from the July 4 Board meeting shows the Reserve Bank weighing up a raft of factors including the strength in the labour market, likelihood of higher wages, the level of household debt, and even the estimate of neutral interest rates for the economy.</div>
<div class="column"> </div>
<div class="column">Consumer confidence eases: The weekly ANZ/Roy Morgan consumer confidence rating eased from 113 to 112.5 in the week to July 16. Confidence is down 2.1 per cent over the year.</div>
<div class="column">
New vehicle sales: The Bureau of Statistics (ABS) reported that new vehicle sales rose by 1.2 per cent in June – the fourth consecutive gain. Annual sales of SUVs and “other vehicles”, like utes, are at record highs.
The Reserve Bank Board minutes provides guidance on interest rate settings. Consumer confidence data is important for retailers. The residential property price data is important for housing-dependent businesses. The car sales data provide perspectives on consumer spending as well as the auto sector of the sharemarket.
What does it all mean?
The Reserve Bank Board remains cautiously optimistic. In fact it could be argued that the latest minutes were certainly more optimistic than in prior months. Although it is unlikely to result in any change to interest rate setting any time soon. Board members considered all manner of factors at the July meeting with particular focus on the housing and job markets. </div>
<div class="column">Interestingly policymakers judged that the “that the strength of recent labour market data had removed some of the downside risk” to wage growth forecasts. While Reserve Bank liaisons “suggested conditions in the retail sector had improved”. And when it came to the APRA enforced prudential supervision measures it was too early to see the full impact.  </div>
<div class="column">The commentary on the Australian dollar was rather bland but since the meeting, the Australian dollar has lifted by almost 5 per cent and is now holding closer to US79 cents. It is more likely that policymakers will discuss concerns about the currency in coming months. The Reserve Bank has provided a bit more colour on the neutral cash rate for the economy – estimating it to be around 3.5 per cent. And if this is the case clearly monetary policy remains very expansionary.
<a href="https://www.propertyobserver.com.au/images/2017/07/19/Screen%20Shot%202017-07-19%20at%208.12.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/19/Screen%20Shot%202017-07-19%20at%208.12.48%20AM.png" alt="">
What do the figures show?
Reserve Bank Board minutes:
Last paragraph: “Members regarded the improvement in the world economy over the preceding months as a welcome development. Nevertheless, they assessed that current economic conditions in Australia, and the outlook for growth and inflation, meant that developments in the labour and housing markets continued to warrant careful monitoring. Taking into account all the available information, the Board judged that holding the accommodative stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.” 
“Members discussed the Bank’s work estimating the neutral real interest rate for Australia. The various estimates suggested that the rate had been broadly stable until around 2007, but had since fallen by around 150 basis points to around 1 per cent. This equated to a neutral nominal cash rate of around 31⁄2 per cent, given that medium-term inflation expectations were well anchored around 21⁄2 per cent, although there is significant uncertainty around this estimate.” </div>
<div class="column">“There had been further signs that investment was increasing and labour markets had tightened further in many advanced economies. This was expected to lead to a pick-up in growth in wages and prices over time.”</div>
<div class="column">
 “The recent improvement in labour market data had been a positive development. Members noted that the strength of recent labour market data had removed some of the downside risk in the Bank’s forecast of wage growth.”</div>
<div class="column">
 “Members recognised that it was too early for the prudential supervision measures announced by the Australian Prudential Regulation Authority, which were designed to help address the risks associated with high and rising levels of indebtedness, to have had their full effect.” “Members noted that the recent pick-up in growth in employment should also support a pick-up in household income growth, and therefore consumption growth, in the period ahead.”
Consumer sentiment
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
The weekly ANZ/Roy Morgan consumer confidence rating eased from 113 to 112.5 in the week to July 16.
Confidence is down 2.1 per cent over the year and below the average of 113.2 since 2014.
Three of the five components of the index fell in the latest week:
<ul>
<li> The estimate of family finances compared with a year ago was down from +5 to +3;  The estimate of family finances over the next year was up from +21 to +26;</li>
<li> Economic conditions over the next 12 months was unchanged at -6;</li>
<li> Economic conditions over the next 5 years was down from +4 to +2;</li>
<li> The measure of whether it was a good time to buy a major household item was down from +41 to +38.</li>
</ul>
New vehicle sales
According to the Australian Bureau of Statistics (ABS), new vehicle sales rose by 1.2 per cent in June – the fourth consecutive gain. Passenger car sales fell by 1.4 per cent but sales of sports utility vehicles rose by 4.4 per cent. And sales of “other” vehicles (includes utilities, panel vans, cab chassis, goods carrying vans, rigid trucks, prime movers, non-freight carrying trucks, and buses) rose by 0.3 per cent.</div>
<div class="column">
 New vehicle sales are up by 3.6 per cent over the year. Passenger car sales are down by 7.4 per cent, while SUVs sales are up 12.3 per cent and “other vehicles” are up by 10.7 per cent.</div>
<div class="column"> </div>
<div class="column">In rolling annual terms, 1,179,545 new vehicles were sold over the year to June. Sales of SUVs (452,122) hit fresh record highs in annual terms, while annual sales of “other” vehicles also stood at record highs of 258,048. Sales of passenger vehicles fell to a 22-year low to 469,375 in the year to June. Across states and territories in June: NSW (down 0.1 per cent); Victoria (up 2.6 per cent); Queensland (up 3.1 per cent); South Australia (down 1 per cent); Western Australia (down 0.4 per cent); Tasmania (down 0.4 per cent); Northern Territory (up 7 per cent); ACT (up 6 per cent).
What is the importance of the economic data?
The Reserve Bank releases minutes of its monthly Board meeting a fortnight after the event. The minutes give a guide to Reserve Bank thinking on interest rate settings.
The Australian Bureau of Statistics (ABS) provides quarterly data on residential prices. The figures provide further perspectives on the state of the housing purchase sector.
The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.
What are the implications for interest rates and investors?
CommSec expects the Reserve Bank to remain on the interest rate sidelines for an extended period. </div>
</div>
</div>
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
</div>
</div>
</div>
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