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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<img src="https://counter.theconversation.edu.au/content/79331/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The recently released environmental effects statement and transportation impact assessment for the proposed West Gate Tunnel project in Melbourne’s western and inner suburbs have once again sparked debate about the future of mobility in Australian cities, and the ability of large road projects to provide it.
In the environmental effects statement, the assumptions behind the models on the need for the tunnel might paint a gloomier picture of the future than is warranted. Many are not inevitable and are, in fact, within the control of the state government and Melburnians.
Why we should be wary of the forecasts
The figures in the transport impact assessment are calculated using a traditional four-step model. 
Given the purpose to which the model has been put in this case, it is unsurprising that it predicts traffic chaos across metropolitan Melbourne in 2031. Also unsurprisingly, the modelling indicates that the West Gate Tunnel would ease this chaos. 
Comparing the “build” and “no-build” scenarios, both set in 2031, 28,000 fewer vehicles per day would use the congested West Gate Bridge if the tunnel is built. As it is designed to, the modelling presents a clear argument to build the tunnel.
There are numerous reasons to be suspicious of the modelled outcomes. For one, these models are notoriously unreliable. 
Research shows that half of road project forecasts are incorrect by more than plus or minus 20% after one year of operation. And for toll roads like the proposed West Gate Tunnel, the average observed error is 23% fewer vehicles using the road than forecast. 
Second, the extra 28,000 vehicles on the West Gate Bridge in the no-build case are not real cars; they are artefacts of the transport network assumptions. These assumptions feed into the models to create the build and no-build scenarios. 
The models predict a 48% increase in road traffic in 2031 and a 100% increase in public transport traffic. The transport impact assessment is relatively silent on the implications of this assumption about public transport patronage.
Cases built on pessimism bias
Studies indicate this 48% increase might be subject to “pessimism bias” – that is, a tendency to imagine the worst. A 2015 analysis found that in 70% of 35 transportation projects in Denmark and England actual travel demand did not reach the end-of-period forecast levels when the projects were not constructed.
Pessimism bias is a product of how the models understand historical road construction and traffic growth. It is likely present in the West Gate Tunnel proposal – but this cannot be measured as yet. 
The 2031 build and no-build cases both incorporate an extensive program of road network construction and expansion apart from the tunnel, which is standard practice. This includes 100 kilometres of additional motorway lanes in the CityLink and Western Ring Road widening projects. Both roads feed into the tunnel. 
VicRoads’ outer suburban arterial roads program includes an additional 700km of arterial roads, which feed into Melbourne’s greater road network. If these roads are not all built then the forecast will be incorrect.
Also, the annual traffic growth rates used in the models are primarily based on historical observation. From 1996 to 2016, traffic volumes across Melbourne grew by 2.6% annually. The model assumes this growth will continue. 
This period of growth includes the construction of the EastLink and Peninsula Link toll roads and several outer suburban arterial roads. Because the construction of roads promotes new traffic, these programs partly explain the growth from 1996 to 2016. 
Consider the alternatives
The “need” for the tunnel exists only because of the presence of extra road and motorway capacity in the modelling assumptions – and because of the absence of any estimates of the effect on car travel of improved public transport passenger and freight transport alternatives in Melbourne’s rapidly expanding western suburbs.
The package of roads that will generate traffic growth on the West Gate Bridge and in the proposed tunnel have not yet been built, and there is nothing inevitable about any of it. Melbourne’s East-West Link and Perth’s Roe 8 both demonstrate that public resistance is not necessarily futile. 
The government and Melburnians have a choice about how we build our cities. We can perpetuate the “need” for roads by continuing to build banal infrastructure, such as large suburban arterials or excessive car parking. This would create the conditions for roads like the West Gate Tunnel – or we could insist on something better.
<a href="https://theconversation.com/profiles/nathan-pittman-382813" target="_blank">Nathan Pittman</a> is PhD Candidate in Transportation Planning, University of Melbourne.
<a href="https://theconversation.com/profiles/john-stone-226753" target="_blank">John Stone</a> is Senior Lecturer in Transport Planning, University of Melbourne.
<a href="https://theconversation.com/profiles/sophie-sturup-383657" target="_blank">Sophie Sturup</a> is Lecturer in Urban Planning and Design, Xi'an Jiaotong Liverpool University.
All are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

Impending traffic chaos? Beware the problematic West Gate Tunnel forecasts

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When Tropical Cyclone Debbie made landfall in North Queensland early in 2017, it led to nearly A$1 billion in insured losses.
Fortunately, there were no deaths or serious injuries where people sheltered in buildings.
We conducted a detailed study into what sort of damage took place during Cyclone Debbie.
This involved taking direct measurements of winds within communities as the storm came ashore.
We then returned after the storm to assess the damage to buildings caused by wind, wind-driven water entry into buildings (water ingress), and storm tide inundation.
We found that buildings designed and constructed using appropriate codes and standards provided safe refuge from Cyclone Debbie’s winds.
However, these regulations did not stop significant volumes of water entering these buildings and causing major financial loss and community disruption.
Unless the amount of water entering buildings is reduced, the cost of severe storms will continue to rise.
The Bureau of Meteorology operates a network of fixed weather stations around the country.
To supplement these fixed sites, we deployed a network of portable weather stations throughout Proserpine, Bowen, Home Hill and Ayr to measure the wind speeds that hit these areas as Cyclone Debbie made landfall.
After adjusting these measurements for their local site conditions, we then related them to the design wind speed prescribed in the Australian wind loading standard, <a href="https://infostore.saiglobal.com/en-au/Standards/AS-NZS-1170-2-2011-R2016--1458609/" target="_blank">AS/NZS1170.2</a>.
For new residential and commercial buildings in North Queensland this is 250km per hour.
Our analysis found that wind gusts at Hamilton Island approached design strength (that is, 90-100% of 250km per hour, as shown in the figure below), Airlie Beach and Proserpine experienced winds at 80-85% of design strength, Bowen around 70%, and Ayr/Home Hill and Mackay less than 50%.
We do not believe that any community experienced wind speeds greater than the 250km per hour a new home should be designed to withstand.
Communities are made up of a mix of buildings. Newer ones are built to current codes and standards, while older ones are not.
Structural details for wind resistance of housing were introduced to building codes in the mid 1980s in response to damage caused by several severe tropical cyclones in the 1970s.
Echoing similar investigations following <a href="https://www.jcu.edu.au/cyclone-testing-station/publications/technical-reports3" target="_blank">these and more recent tropical cyclones</a>, our survey showed that the majority of wind-related failures occurred in older houses.
It again highlighted known issues with inadequate tie-down between battens, rafters and trusses, or between the roof structure and wall, as well as deterioration of structural elements.
Such damage to older buildings remains a problem that will continue to present a risk to life and property unless coordinated structural upgrading or retrofit programs are implemented.
Few contemporary buildings had significant damage where the measured wind speeds were less than 80% of the design wind speed.
Where damage was observed, this was primarily due to the use of incorrect or poorly installed details.
Overall, however, the low level of structural damage to newly constructed buildings was in line with that expected given measured wind speeds.
This shows that where appropriate codes and standards are applied, structural damage can be controlled.
But cyclones can cause plenty of other damage that can still be a problem for people.
We found that internal linings, ceilings and contents (furniture, clothes, and other items) in many hundreds of contemporary buildings were damaged due to wind-driven water ingress.
This occurred irrespective of wind speeds.
Wind-driven water ingress occurs when differential pressure between the inside and outside of a building forces rainwater through windows, doors, louvres, weepholes, vents and even under flashings nominally designed to keep water out.
This ingress occurs in the absence of any structural or building envelope damage and even occurs when doors or windows are closed.
Many people reported mopping up water in front of windows and glass doors during the cyclone.
This practice puts people at risk of serious injury if the windows or doors are broken by debris or wind pressure.
But no definitive codes, standards or guidelines currently exist to help prevent water ingress during severe tropical cyclones.
It is anticipated that damage due to wind driven water ingress will make up a significant percentage of the total damage cost of this event.
It has led to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-03-31/cyclone-debbie-airlie-beach-proserpine-locals-pull-together/8403684" target="_blank">significant community disruption</a> during repair and recovery, and is clearly a community resilience issue that must be addressed.
As in previous wind events, from the damage we observed it was clear that wind-driven rainwater ingress was a major cause of loss to modern buildings.
Anecdotally, its contribution to the costs of community recovery is increasing.
But, rightly or wrongly, since water ingress is not generally viewed as a life safety issue, codes and standards do not currently control it.
Manufacturer standards, improved design and installation practice and even insurance pricing are possible alternatives.
But we believe further research is urgently required to determine the most appropriate method to address this problem.
For the most part, newer buildings - with correctly designed and installed structural details - resist severe winds better than older ones.
The structural details of all buildings, regardless of age, should be checked following major wind events.
You service your car to protect your family – why not your home?
Matthew Mason is a lecturer in Civil Engineering at The University of Queensland and can be contacted <a href="https://theconversation.com/profiles/matthew-mason-220221" target="_blank">here</a>.
Daniel Smith is a research fellow at James Cook University and can be contacted <a href="https://theconversation.com/profiles/daniel-smith-384423" target="_blank">here</a>.
David Henderson is the Director at CycloneTesting Station at James Cook University and can be contacted <a href="https://theconversation.com/profiles/david-henderson-384425" target="_blank">here</a>.
Debbie Falck is a assistant researcher at James Cook University and can be contacted <a href="https://theconversation.com/profiles/debbie-falck-385708" target="_blank">here</a>.
Geoffrey Boughton is an adjunct Associate Professor at the Cyclone Testing Station at James Cook University and can be contacted <a href="https://theconversation.com/profiles/geoffrey-boughton-384429" target="_blank">here</a>.
All of them are authors for The Conversation.
<img src="https://counter.theconversation.edu.au/content/79565/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
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j.ballantyne1990-6AQqhLzZaK

Building codes not enough to protect homes against water damage in severe storms

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Recent homebuyers are taking on larger scope projects than all other home renovators according to the Houzz &amp; Home Australia survey from Houzz, the platform for home renovation and design.
The survey, of almost 10,000 respondents in Australia and more than 185,000 globally, revealed that over a quarter of renovations are driven by recent home purchases (29 percent).
Recent homebuyers are nearly twice as likely to renovate all of their interior spaces than the average home renovator (15 percent versus eight percent, respectively).
When considering priorities, kitchen projects top the list for recent buyers (31 percent versus 25 percent for the average renovating homeowner), followed by living rooms (32 percent versus 23 percent) and master bathrooms (22 percent versus 17 percent).
“2016 was another strong year for the home renovation market, with homeowners continuing to invest in their homes," said Nino Sitchinava, principal economist at Houzz.
“While the majority of renovations are spurred by homeowners’ desire to upgrade a home they have lived in for some time, recent home purchases are also an important driver of home renovation activity.
“Recent homebuyers tend to do more, spend more, and are more likely to hire professionals to help with their renovation projects than other homeowners.”
This year is on track to be another boom year for home renovations, with half of homeowners on Houzz planning to begin or continue renovations in 2017 (50 percent).
Homeowners plan to spend an average of $47,000 on home renovations in 2017. In 2016, kitchen renovations commanded the highest spend ($19,300), followed by master bathrooms ($12,300).
Other top findings include:
Energy Efficient and Healthy Homes:
● While design and functionality top the list of renovation considerations (both 74 percent), almost half of homeowners consider energy efficiency extremely important to their projects (42 percent). To create more energy efficient homes, homeowners are installing home automation technology and solar systems during their renovations (8 percent and 7 percent respectively). Home automation is even more common among recent buyers (15 percent).
● Australian homeowners are also health conscious with almost a quarter reporting health concerns as a priority factor to their renovation project (24%).
Cash is King:
● Seventy-nine percent of homeowners reported to have used cash and savings to fund their projects in 2016.
● Refinancing trails behind at second (15 percent in 2016), with recent homebuyers more likely to refinance than long term owners (21 percent versus 15 percent, respectively).
● Recent buyers are also more likely to use credit cards to fund their projects (16 percent versus 13 percent for long term owners).
Breaking Budget:
● The top challenge facing renovating homeowners in 2016 was staying on budget (34 percent).
● Other top challenges include finding the right products and materials and finding the right service providers (both 33 percent).
Pro is The Go:
● Nine in ten renovating homeowners hired professionals for their renovation projects in 2016, consistent with 2015 (both 89 percent). Recent homebuyers are even more likely to rely on professional help than long term owners (92 percent versus 88 percent, respectively).
Raring to Renovate:
● One in two homeowners on Houzz report plans to renovate over sell their homes (53 percent versus seven percent respectively).
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Recent homebuyers drive renovation activity, Houzz study finds

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<div>
Westpac Group, the nation's second largest mortgage lender, has told mortgage brokers to grill clients on why they want an interest-only loan.
They are to "make them aware of their features and considerations".
</div>
<div>Brokers must note the client's answers and include them in the application.</div>
<div>
"It is important clients can provide clear reasoning for their choice of loan and can demonstrate an understanding of an interest-only loan and its features so we can have confidence our product aligns to their needs," a bank spokesman told Fairfax Media.
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Westpac tells mortgage brokers to quiz investors on IO rationale

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Despite being in the midst of a nationwide dwellings construction boom over recent years, the total volume of housing stock increased by a lower proportion in Brisbane, Adelaide, Perth and Hobart between 2011 and 2016 than they did between 2006 and 2011.
Over the five years between the Census collection periods, there has been a shift towards denser housing stock being added to the capital cities is evident.
Interestingly, while driving around inner city areas you would be led to believe that it is higher density units which have been most abundant in new supply, the data points to medium density supply having ramped up the most.
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2011.35.36%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/06/Screen%20Shot%202017-07-06%20at%2011.35.36%20am.jpg" alt="">
In Sydney (17.9%), Melbourne (61.0%), Brisbane (29.6%), Adelaide (46.5%), Perth (49.4%) and Canberra (36.9%) it was medium density housing types which recorded the greatest increase in stock over the five years.
In each of these cities, except for Adelaide and Perth, separate house stock saw the smallest increase of the three housing types over the five years.”
Looking at the proportion of total housing stock by type based on the Census data, across each capital city, separate houses remain the dominant property type.
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2011.35.46%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/06/Screen%20Shot%202017-07-06%20at%2011.35.46%20am.jpg" alt="">
However, given the previously presented data, the proportion of separate houses has fallen over recent Census periods.
The data indicates that in most capital cities, medium and high density housing remain a relatively small but increasing proportion of the overall housing mix.
Ten years ago in Sydney, 61.7% of housing stock was separate houses, and in the latest Census 55.7% of housing stock was separate houses.
If this trajectory continues by the 2026 Census less than half of Sydney’s housing stock will be separate houses.
With ongoing under investment in much needed infrastructure, there are significant lifestyle benefits associated with living closer to the city centre however, the supply of land in the areas closer to the city centre is limited.
This is leading to increasing levels of medium and higher density dwelling construction and premiums for detached housing located close to the city centres.
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2011.35.57%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/06/Screen%20Shot%202017-07-06%20at%2011.35.57%20am.jpg" alt="">
Although approvals for these types of properties has slowed recently, it is anticipated that construction of medium and high density dwellings will remain elevated relative to historic levels.
I believe we’ll see the shift towards a greater proportion of capital city housing being medium and high density will continue over the coming years.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

The rise and rise of medium density housing: Cameron Kusher

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Developer Walker Corporation has lodged plans for a commercial tower in Brisbane’s Fortitude Valley, ditching a 433-apartment twin-tower development approval in favour of a $400 million commercial project. 
The proposed A-Grade tower at 801 Ann Street on the Austral Motors Site has been planned to have 26 storeys and will sit on a full city block bordered by Ann, McLachlan, Connor and Morgan streets. 
Walker general manager for Queensland Development Peter Saba said the tower would raise the bar for commercial property in Brisbane, with its next-generation commercial design. 
“This building will appeal to top-tier companies with its large, flexible floorplates and state-of-the- art features,” he said. 
Walker Corporation recently also submitted a development application for a 73-hectare master planned community, Breakwater, that will connect Robina, Merrimac and Gold Coast City Council’s planned Green Heart Parklands. The masterplan proposes 2,000 townhouses and apartments and is expected to house 3,700 residents.
The building, after approval and completion, would have approximately 5,000 workers, said Saba. 
“The site is sounded by cafes, restaurants and quality retail in the popular James Street precinct, so workers can make the most of the location,” he said. 
It will also have 5-Star Green Star rating. Other key features of 801 Ann St will include a light-filled lobby, site-specific artwork and winter rooms and terraces on certain floors.
Saba said 801 Ann St would significantly expand Walker’s presence in Queensland.
“We have been looking for the opportunity to deliver a significant commercial building in Brisbane and this site is the perfect location,” he said. 
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jonathanchancellor-7SQnKwU6yx

Walker Corporation plans modern commercial office tower in Brisbane's Fortitude Valley

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Three new tenants, including Property NSW, are moving into Mirvac's office tower at 101 Miller Street in North Sydney.
The new tenants -- Property NSW, Bedford CA and Access Innovation Media --  will in total occupy more than 4,700 sqm, bringing the premium grade office building to 83 per cent leased, Mirvac and joint owner and TH Real Estate said in a media release.
Property NSW has leased over 2,800 sqm on levels 21 and 22, for a five-year term, as it expands to accommodate more employees.
Bedford CA has leased over 1,428 sqm on level 16 for a seven-year term while Access Innovation Media will occupy 487 sqm on level one for a five-year term.
Mirvac’s general manager of Leasing and Agency Services, Paul Bezzina, said the commercial property market in North Sydney offered an exceptional working environment and access to retail facilities, hospitality and transport. 
“Located in the heart of North Sydney, 101 Miller Street is not only in close proximity to a variety of food and retail options, the office features fresh workspaces with refurbished ceilings, carpets and bathrooms,” said Bezzina.
Commenting on the leasing activity, TH Real Estate’s head of asset management, Australia, Jayson Egan, said the tenant demand in North Sydney remained strong. 
“With the low vacancy in the Sydney CBD, tenants are increasingly seeking alternative locations like North Sydney, which are more affordable and provide an outstanding work environment. We expect this trend to continue throughout the year,” Egan said. 
Mirvac is currently upgrading the office floors, the foyer and end-of-trip facilities which are expected to be completed later this year.
TH Real Estate is an investment affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with about $99 billion in assets under management.
Recently, the Grand Pavilion Penthouse at the Mirvac-built Eastbourne project overlooking Fitzroy Gardens sold for close to $14 million.
 
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Mirvac's 101 Miller Street office tower has three new tenants

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GUEST OBSERVER
Australia’s housing cycle has been largely driven by the use of the RBA’s cash rate setting to manage the mining boom.
A high cash rate in the earlier period (4.75% in 2011) held back housing to make way for the mining boom. Subsequent cash rate cuts (to 1.50%) drove a housing construction and price boom. This has mostly been a good story.
The housing construction boom has helped to fill the growth gap left by falling mining investment. It has also helped to reduce a housing undersupply that had accumulated. Not many houses were built during the mining boom.
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.46.59%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.46.59%20AM.png" alt="">
The housing price boom has also presented some challenges. National housing prices have risen 50% since mid-2012 and much of the rise has been driven by rising household debt. This has reduced housing affordability and also raised questions about whether Australia has a housing bubble.
However, just because prices and housing debt have risen does not necessarily mean that there is a bubble. The key question is whether the rise is in line with fundamentals? In our view, to a large degree, it has been.
Housing prices have risen very little in regions where housing demand has been weak, or supply has been boosted. In contrast, where supply has not kept up with demand, house price growth has been strong. For example, housing prices have only risen 6% in Perth, 11% in Adelaide, and 21% in Brisbane, where the mining retreat has had its biggest effects. In contrast, Melbourne and Sydney prices have risen 60% and 80%, respectively.
In addition to low interest rates, demand for housing has been supported by migration (both international and domestic) and foreign investment: factors which have been strongest in Sydney and Melbourne.
These fundamental factors largely explain the price boom and, as a result, we do not judge it to be a bubble.
Nonetheless, we expect these markets to cool in 2018 as we forecast supply to gradually catch up to demand, continued tight prudential settings, a pullback in the foreign bid (partly due to new taxes), and the RBA to lift its cash rate from early 2018. We see national housing price growth slowing from 8-10% in 2017 to 3-6% in 2018. 
Price boom is largely in line with fundamentals
Australia has had strong housing price growth in recent years (Chart 1). This has raised questions among some observers about whether Australia has a housing bubble. However, in our view, the weight of evidence suggests that this ramp up is largely justified by fundamentals.
At a national level, demand has been supported by low interest rates, strong population growth, and foreign demand. At the same time, despite a significant ramp up in housing construction in recent years, our estimates still suggest aggregate housing undersupply (Chart 2). On the supply side, it is important to recall that during the mining boom very little housing was built and population growth was strong.
As a result, Australia accumulated a significant housing undersupply in the earlier period. Chart 2 updates our estimates to include the latest data from the 2016 census. It shows that the process of returning to balance in the housing market is happening at a slower pace than previously thought, due to faster population growth (for earlier estimates see Downunder Digest: Australia’s housing supply ramp up, 9 September 2015).
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.48.07%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.48.07%20AM.png" alt="">
At a national level, a key reason for rising housing prices has been housing undersupply. This also suggests that a significant fall in Australian housing prices, as occurred in the US and Spain during the Global Financial Crisis, is unlikely, given that, in contrast to those countries, in Australia there is little evidence of a national housing oversupply.
Where supply has caught up, prices have fallen
Another element that re-assures us that housing price developments broadly reflect fundamentals are the regional patterns. As we have pointed out previously, Australia has many housing markets and they are affected by different forces (see Downunder Digest: Australia’s many housing markets in 2017, 25 November 2016). What is clear from the numbers is that housing price growth has been high where strong demand has been met by insufficient supply and, likewise, price growth has been weak where the market shows signs of oversupply.
Although there has been a national undersupply of housing on our estimates, this masks differences across the regions. In New South Wales and Victoria, our estimates suggest that construction has barely kept up with population growth, let alone run down the accumulated undersupply (Chart 3).
While growth in dwellings has just overtaken population growth in New South Wales, there was a significant undersupply accumulated over previous years, which suggests a still significant undersupply. For Victoria, the 2016 census data, released in June 2017, saw an upward revision to population growth, suggesting that the overall housing market is tighter than previously thought. These two states are driving the national undersupply.
By contrast, strong rates of housing construction in Queensland and Western Australia have coincided with sharply slower population growth, as the mining sector has been in retreat (Chart 4). In Western Australia, the housing market looks oversupplied, while in Queensland, any shortfall created by strong population growth during the mid-2000s is rapidly being worked off. These supply and demand trends appear to have had significant implications for housing prices. In Sydney and Melbourne housing prices have continued to show double-digit price growth overall (Chart 5 and 6). Meanwhile, the Perth and Brisbane markets have been demonstrably weaker, with housing prices declining in many segments (Chart 7 and 8). 
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.49.08%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.49.08%20AM.png" alt="">
Even within the various regional markets, supply and demand fundamentals seem to have driven differences in price behaviour. Much of the increase in supply over recent years has been driven by strong rates of building of attached dwellings (mainly townhouses and apartments/units), particularly in Melbourne and Brisbane. As a result, unit prices have fallen in these markets, while detached house prices have continued to rise, as the boost to supply has been much weaker. This effect has been particularly stark in Melbourne, where the supply of city-centre apartments has grown strongly and seemingly kept a lid on price growth.
In Adelaide, housing price growth has been weak as the end of the mining boom weighed on South Australia (Chart 9). Canberra and Hobart have been buoyed by strong demand and weaker supply. In Hobart, much of the pick-up seems to reflect catch-up as the city is looking more affordable given strong price gains elsewhere.
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.50.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.50.03%20AM.png" alt="">
Tighter prudential settings are slowing lending
Another element that could indicate a housing bubble would be misallocated lending. If the lending that has driven the housing boom has been to households that may be unable to service it when interest rates rise, then this could cause a sharper fall in housing prices than otherwise, much as the sub-prime crisis did in the US last decade. As we have shown in other work, our view is that the tightening of lending standards over the past couple of years makes it unlikely that any misallocation of credit has been widespread enough to be a systemic risk (Downunder Digest: How worrisome is Australia’s high household debt?, 16 May 2017). This work also shows that although housing prices are high relative to incomes, they are not exceptionally so and the high house price to income ratio can be largely explained by supply side fundamentals. In addition, while overall household debt has risen to high levels, the cost of servicing that debt is modest by historical standards due to low interest rates.
The tightening of prudential settings over recent years is also likely to be contributing to a pullback in activity in some parts of the housing market. A range of actions undertaken by the prudential regulator over recent years has already seen investor mortgages become more expensive and harder to come by, leading to a marked slowdown in investor credit growth (Chart 10).
These prudential tightening measures have included a requirement that banks grow their investor mortgage portfolios by less than 10% a year (introduced in 2015) and a recent limit on interest-only mortgages, which make up the majority of investor lending and are now not allowed to make up more than 30% of new lending. Alongside these overt measures, the regulator has also increased its micro-prudential scrutiny of banks’ mortgage lending.
The result of these various measures has been increased mortgage rates for investor lending, alongside other rationing measures such as banks no longer giving mortgages for properties in certain neighbourhoods where supply is growing strongly, or banks no longer lending to households only backed by overseas income (Chart 11).
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.50.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.50.58%20AM.png" alt="">
Both credit growth and mortgage approvals suggest that there was a sharp slowdown in investor lending in 2015, when the initial 10% limit was introduced (Chart 12). Then lending picked up over most of 2016, before slowing more recently as settings were tightened further. Up until now though, slower lending to investors has largely been offset by increased lending to owner-occupiers. Overall housing credit growth has been pretty steadily at 6.5-7.0% y-o-y since early 2016. That is only a slight slowdown from the 7.5% growth recorded over 2015.
Going some way to explaining the relatively modest impact of tighter prudential settings is the fact that interest rates have generally been falling; variable owner-occupier mortgage rates are currently around 35bp lower than they were at the end of 2015. However, this is likely to be the bottom of the interest rate cycle and we anticipate expectations of higher rates will build over the second half of 2017. This would also likely mark a turning point for the housing market.
Foreign demand has pulled back
Another factor that has supported housing price growth in Australia has been foreign demand. This has been particularly evident in demand for apartments in the major cities. Many observers have pointed to foreign demand as a key driver of housing price growth in recent years, although there is still considerable debate about how much impact foreign demand has had.
In Australia, non-resident buyers have to get approval for property purchases from the Foreign Investment Review Board and the number of these approvals surged from around 10,000 in 2012-13 to 40,000 in 2015-16 (Chart 13). However, although growth in these numbers has been quite strong, even at 40,000 dwellings this is still only around 10% of housing turnover over that period. Recent comments by the Australian Treasury Secretary, John Fraser, in a speech, also indicated that approvals have fallen back to around 15,000 this financial year (to date).
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.51.53%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.51.53%20AM.png" alt="">
Foreign demand appears to have pulled back and possibly quite significantly. This could be due to a number of factors, including tighter capital controls in China, reduced access to Australian mortgages, or increased stamp duty imposed on foreign buyers by various State governments. New South Wales, Victoria, and Queensland have introduced additional stamp duty levies on foreign housing purchases, which they have just increased to 8%, 7%, and 3% of the property sale price, respectively. Weaker foreign demand could also reflect the recent fall in the RMB, which has made Australian housing more expensive in Chinese currency terms (Chart 14).
However, despite the pullback in foreign investor approvals the Sydney and Melbourne housing markets have continued to experience strong price growth. The impact of lower overseas demand may, though, have contributed to weaker apartment price growth. The full impact may also only be felt further down the line, as many foreign purchasers buy off plan, meaning a significant delay between the purchase and settlement.
We are still forecasting a slowdown
For quite some time, we have been forecasting the housing market to cool (see Downunder Digest: Australia’s many housing markets in 2017, 25 November 2016). Although the Adelaide, Brisbane, and Perth markets and the Melbourne apartment market have largely cooled as expected, the Sydney market and the Melbourne detached market have shown more resilience. We attribute this mostly to stronger-than-expected demand, partly due to higher population growth than forecast and continued supply constraints in these markets.
Nonetheless, we still expect some cooling of these markets over the next 12-18 months. More apartment supply is expected in Sydney and Melbourne, which should help meet demand. We also expect foreign demand to continue to be somewhat curtailed by the increases in local taxes and the weaker RMB. Our central case also sees the RBA beginning to lift its cash rate from early 2018, which would be expected to help cool the housing market (see The RBA Observer: Not quite yet, but hikes are coming, 30 June 2017). We are forecasting national housing price growth to slow from 8% to 10% in 2017 to 3% to 6% in 2018 (Table 15). 
expect Perth housing prices to begin to stabilise as the mining sector gets a modest lift from higher commodity prices.
Housing affordability challenges
The housing price ramp up in Sydney and Melbourne in recent years has reduced affordability of housing in these markets and presents a policy challenge. Unlike previous housing market upswings, first home buyer activity has not lifted significantly this time around. Instead, much of the increased activity has been amongst housing investors. Home ownership amongst younger households is falling.
Given the demand and supply imbalance in recent years it makes sense that Sydney and Melbourne have housing affordability challenges. These are global cities that often rank in the Top 10 in surveys of ‘liveability’. For example, Melbourne has been ranked the world’s most liveable city for six years in a row (2011-16) in the Economist Intelligence Unit’s Global Liveability Ranking. Unlike Perth and Adelaide, which also rank highly in these surveys, the end of the mining boom has had limited negative impact on Sydney and Melbourne.
At the same time, housing supply has not kept pace with strong demand. Housing supply has been constrained by regulations on land release and urban infill. Approvals processes for dwellings also tend to be quite long and onerous, particularly in Sydney, where supply has been most constrained recently. Under investment in urban infrastructure has also meant long travel times into Sydney and Melbourne from outer suburbs, increasing demand for the inner suburbs and thus driving up housing prices in these areas.
<a href="https://www.propertyobserver.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.52.49%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/06/Screen%20Shot%202017-07-06%20at%2010.52.49%20AM.png" alt="">
The Melbourne apartment building boom offers an example of how to improve housing affordability by building a large amount of affordable dwellings. While Melbourne detached house prices have risen 65% over the past five years, apartment prices have only increased 20% and have been broadly flat over the past year. Boosting supply is likely to be the best solution to improving housing affordability in Australia’s major cities.
Little negative wealth effect is expected
A concern among some observers is that a slowdown in housing price growth could prompt weaker growth in household consumption due to a negative wealth effect. We are more sanguine about this risk. As we have shown recently, there is little evidence of a positive wealth effect from the recent housing boom, so we expect that any negative wealth effect, from a slowdown in housing price growth, may be equally suppressed (see Downunder Digest: Australia’s shifting consumer, 27 June 2017).
Unlike during the early 2000s housing price and housing credit boom, households have been injecting equity into their dwellings, rather than withdrawing it to boost consumption. At the same time, the household saving rate has also stayed high in the states that have had the largest housing price gains, New South Wales and Victoria, which, again, suggests few signs of a positive wealth effect.
Paul Bloxham is the Chief Economist for HSBC and Daniel Smith is the Economist for HSBC. They can be contacted <a href="https://www.hsbc.com.au/" target="_blank">here</a>.
 
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Australian housing more boom than bubble: HSBC

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The changing landscape of Liverpool is perfect for residential investors, according to Savills’ latest report.
“Despite strong price growth over the past decade, Liverpool remains a relatively affordable location to buy residential property in comparison to the rest of Sydney.
“The average price in the suburb of Liverpool in December 2016 was $777,000 for a house and $412,000 for a unit.
“This is in line with the average across the wider Liverpool/ Fairfield area but offers a substantial discount of 27 percent and 42 percent respectively when compared to the Sydney average.
“Over the past ten years, house and unit prices in Liverpool have increased significantly with values rising by 137 percent and 122 percent respectively, outperforming the Sydney average.
“Over the past year, the rate of annual growth has slowed to 4 percent for units and 7 percent for houses, reflecting a more subdued housing market seen across Sydney,” the report stated.
Investors in Liverpool focus more on income return rather than price growth Savills comments.
“Since the slowdown in capital value growth across Sydney, an increasing number of investors are placing more emphasis on income return rather than relying only on price growth.
“In Liverpool, the median weekly rent is $480 for houses and $390 for units, resulting in average yields of 3.2 percent and 4.9 percent respectively.
“These are higher than the Sydney average, particularly for units where the median yield across the city is 4.1 percent, and as such, Liverpool is attracting an increasing number of investors.
“The supply of units in Liverpool nearly doubled in 2013 compared to the previous four years as a number of large-scale developments came to the market.
“These units have been absorbed and the number of unit sales has fallen to back in line with the long-term average.
“This has had a positive impact on the vacancy rate across the city of Liverpool, which has been falling over the past six months from 2.2 percent in January 2016 to 1.5 percent in January 2017,” the report advised.
The number of new residents coming to Liverpool has outperformed the Sydney average Savills head of research Sophie Chick reports.
“Over the past 10 years, population growth across the City of Liverpool has outperformed the Sydney average, increasing by 26.0 percent compared to 16.6 percent.
“This has significantly added to the demand for real estate in the area, equating to nearly 4,500 new residents per year.
“Families with children make up a higher proportion of the population in Liverpool than across Sydney, accounting for 60.9 percent of residents compared to an average of 47.0 percent.
“This drives strong demand for housing suitable for children with outside space.
“International buyers are an important source of demand for the housing market across Sydney as both owner- occupiers and investors.
“Liverpool is a culturally diverse city and already has a large international community. Just one-third of residents describe their ancestry as Australian or English compared to over half across Greater Sydney.
“There is a range of employment opportunities in Liverpool, meaning one-third of the residents work locally.
“Beyond Liverpool, Sydney CBD is the largest employment location, accounting for 10 percent of Liverpool’s working population, followed by neighbouring Fairfield and Bankstown. Sydney CBD is the next largest employment location followed by neighbouring Fairfield and Bankstown.
“Health care and social assistance is one of Liverpool’s largest employment sectors, reflecting the fact that the city is home to the largest hospital in NSW,” she commented.
Savills say that Liverpool’s population growth is set to continue.
“The city of Liverpool has already experienced higher population growth than many other areas in Sydney and this is set to continue.
“Over the next 20 years, the City’s population is forecast to increase by 55 percent to 331,000 people compared to a 37 percent increase across Greater Sydney.
“This is likely to further contribute to the already high demand for residential property in the area.
“The construction of Badgerys Creek Airport and surrounding infrastructure to support the new airport is expected to have a significant impact on Liverpool.
“The upgraded and newly formed road networks will increase Liverpool’s connectivity between the surrounding suburbs and greater Sydney.
“With a number of major projects and regeneration schemes underway, the desirability of the area for existing and new residents is forecast to continue to grow,” the report stated.
For more information go to Savills' home <a href="https://www.savills.com.au" target="_blank">page</a>.
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Liverpool perfect for residential investors: Savills

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Bold Living has welcomed stars of TV show The Block, Will and Karlie Bethune, to the team, with the Queensland medium home builder naming the Brisbane couple as brand ambassadors.
Will and Karlie, who pocketed $815,000 in winning the 2016 series, will represent Bold Living.
They will participate in master-class style workshops and display home open days, as part of the new partnership.
Bold Living director Brett Boulton said the couple’s design flair and passion for the industry were a suitable fit for the fast-growing builder.
“We were delighted to host Will and Karlie at the recent launch of the Evolve Design Studio – our design showroom that is a one-stop-shop for anyone planning a new home build,” he said.
“Not only were we impressed by their natural style, but their energy, warmth  and ability to ‘think outside the box’ - qualities that match the team at Bold Living.   
<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/Brett%20Boulton%20with%20Will%20and%20Karlie%20and%20Arlia%20Rubin%20at%20the%20Evolve%20%20Design%20Studio1%203.jpg" alt="">
They said they can’t wait to share our design ideas to enhance their building experience.
"We’re big fans of coordinating a neutral base palette with pops of colour, greenery and clever lighting design for a classic and modern look.”
Bold was established in 2010 by Mr Boulton and has grown exponentially in key growth areas across South East Queensland, with the company now building more than 200 new homes each year.
Bold Living has been awarded Queensland Medium Professional Builder by peak industry body - Housing Industry Association (HIA) - for the past two consecutive years, demonstrating excellence in all areas of home building.
<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/LTR%20Brett%20Boulton%20and%20Arlia%20Rubin%20with%202016%20Block%20winners%20Will%20and%20%20Karlie2.jpg" alt="">
The Evolve Design Studio – the largest design showroom of its kind in Queensland - is open at 49 Flinders Parade in North Lakes. 
For further information call 1800 462 653 or visit <a href="https://www.boldliving.com.au" target="_blank">www.boldliving.com.au</a>.
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