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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Rod Fehring, Chief Executive Officer of Frasers Property Australia, has been appointed Chair of the Green Building Council of Australia (GBCA).
Frasers Property Australia is one of the nation’s largest diversified property groups, and topped the Global Real Estate Sustainability Benchmark (GRESB) table last year for diversified office, industrial and non-listed funds.
“As our cities grow, we have an obligation and an opportunity to embrace building practices that deliver healthy, resilient and positive places for people and the natural environment,” Mr Fehring says.
“There may be some uncertainty around the Paris Agreement and global commitments to tackle climate change, but industry remains rock-solid in its commitment to sustainability.
“Almost 1,500 Green Star projects have been certified around Australia – and 38 per cent of the nation’s office space is Green Star certified.
“More than 1.3 million people shop in a Green Star retail centre every day.
“The GBCA’s focus over the next year will be leading the shift to net zero buildings, and to reshaping the way Australians live, work and play in their cities.
“The GBCA’s board is determined to accelerate market transformation and to set the sustainability agenda throughout our region – and I’m excited to be leading this transformative team of leaders.”
Mr Fehring is joined by deputy chairs Kylie Rampa, Lendlease’s Chief Executive Officer, Property Australia and John Flecker, Chief Executive Officer of Multiplex Australasia.
The GBCA’s Chief Executive Officer Romilly Madew welcomes Mr Fehring’s appointment, and pays tribute to outgoing chair, Tanya Cox.
“Tanya’s term has been characterised by a laser-focus on strong governance, strategic board appointments and the development of an ambitious new agenda for a carbon positive industry.
“Her impact will be felt for many years to come.
“Tanya will continue on the GBCA board and will remain as our representative on the World Green Building Council board as a member of its Executive Committee,” Ms Madew says.
Rod Fehring, Chief Executive Officer, Frasers Property Australia
Mr Fehring has been with Frasers Property Australia since March 2010, and was appointed Chief Executive Officer in July 2015.
Prior to this, he spent nine years with Lendlease as CEO of its development, retirement living and aged care businesses and six years as CEO of Delfin Lend Lease.
Kylie Rampa, Chief Executive Officer, Property Australia, Lendlease
Ms Rampa joined Lendlease in 2013 and was appointed Chief Executive Officer Property in May 2016.
She is responsible for Lendlease’s Australian Property business, which comprises a multibillion dollar urban regeneration portfolio, communities, retirement living and investment management including retail.
She is Deputy President of the Property Council of Australia.
John Flecker, Chief Executive Officer, Multiplex Australasia
Mr Flecker is a civil engineer with more than 20 years’ experience in civil and construction projects.
He holds a Bachelor of Engineering from the University of Western Australia and is a Fellow of the Institute of Engineers Australia.
He is currently President of the Australian Contractors Association.
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Rod Fehring heads new leadership for Green Building Council of Australia

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Tenants upgrading to higher quality suburban and CBD office properties have vacated 40,000 sqm of office space across Western Australia’s suburban office markets in the past 12 months, according to a new report.
West Australian commercial property information firm Y Research’s latest, West Australian Suburban Office Report, shows that the 
Vacancy rate across Perth’s 50 suburban office markets have risen to 17.7% from 16.5% in November 2016, according to the June report.
A weak economy and increasing competition for office tenants, large and small, from office owners in the Perth CBD, West Perth and other suburban markets, are pressuring Western Australia’s suburban employment hubs, according to chief problem solver of Y Research, Damian Stone.
In the past six months, 11 suburbs recorded more than 1,000 sqm of negative net absorption including major markets, Northbridge, East Perth, Leederville, Fremantle and Midland. 
While relocations to the Perth CBD and suburban markets have played a role, the major driver of higher vacancies in the first half of 2017 continues to be downsizing with companies, such as the Sunday Times, Boral, NAB and the Water Corporation, vacating space in the last six months. 
Despite the higher headline vacancy rate, what is becoming increasingly evident is tenants’ flight to quality, said the report. 
“Improved affordability, in terms of market rents and leasing incentives, combined with increased choice due to recent office developments and the level of vacancy, is allowing tenants unprecedented choice of tenancy. 
“The flight to quality trend is highlighted by tenants upgrading from secondary spaces in their current suburb or relocating to a neighbouring market, typically within 5km.”
Retailer Bunnings’ move from industrial space in Welshpool to a portion of the recently completed A Grade building in Rivervale was the largest leasing transaction in the reporting period and also evidence of the flight to quality. 
Reinforcing the trend, infrastructure operator Brookfield Rail moved from Welshpool to Bravo at Perth Airport while aged care provider Bethanie Group shifted from Claremont to WorkZone in Northbridge. Residential developer Satterley moved from South Perth to Troode Street in City West.
This “flight to quality” is having two main impacts on Western Australia’s suburban office markets – either in terms of suburb or building, you are top of the market or not in the market for tenants, says the report.
With multiple choices for A Grade space in desirable suburbs such as Subiaco, Northbridge and Herdsman, there are limited or no tenants in the market for older, secondary properties in non-core locations with limited - amenity, public transport links and building services such as end of trip facilities. 
As a result, market rents for high quality spaces have stabilised in the past six months, while discounting continues across secondary properties and non-core locations. Secondary property owners unable to compete on building quality are using price to drive absorption. Asking prices under $100 per sqm are increasingly commonplace, it says.
“Ten years on from the peak of Perth’s office space crunch and the wave of decentralisation of tenants to the suburbs, the short-term challenges are mounting for Perth’s suburban office markets - continued competition from Perth CBD and West Perth owners, amenity short falls in major markets, vacant space in recently completed developments and potential space consolidation from suburban office markets’ main occupier, the State Government,” notes the report.
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Secondary Perth properties miss out on tenants’ flight to quality: Y Research 

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The luxury lifestyle development proposed for the shores of Lake Macquarie, Trinity Point has been listed with the Johnson Property Group seeking joint venture partners.
Its 3.5 acre tourism precinct has been listed through JLL’s Paul Hunter and Ben Hunter.
The tourism precinct will offer a 188-berth marina (94 already built), a five-star Pullman Hotel with day spa &amp; wellness centre, gymnasium &amp; business centre, along with a 250 seat restaurant and 300 seat function centre.
There is even a DA in for a helipad off the marina, sitting 88 minutes north of Sydney’s CBD and 30 minutes south of Newcastle.
The likely joint venture offering will include eight blocks of apartments consisting of 250 luxury apartments.
The entire development covers 23 hectares which includes a number of residential homes and terrace homes currently under construction.
It is a masterplanned marina community that features 196 lot sub-division, 20 terrace homes and 3.5 acres of what is known as the tourism precinct within its Morisset Park waterfront location.
The subdivision lots and terrace homes are currently being sold down to individual buyers by <a href="https://www.johnsonpropertygroup.com.au/trinity-point/" target="_blank">the developer Johnson Property Group</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/2017/07/05/Trinity%20Point%202.jpg" alt="">
The former Australian cricket captain Michael Clarke has secured an off the plan three storey terrace homes with views over Lake Macquarie.
The former Miss Universe Jennifer Hawkins has been a brand ambassador.
Trinity Point received awards in two categories at the Asia Pacific Property Awards in Bangkok 2017-2018, for leisure architecture and hotel architecture.
It is designed by Squillace Architects.
JLL’s Director, NSW Metro Sales &amp; Investments, Paul Hunter said it was rare to see a development opportunity of this style and quality.
"This is an opportunity for the astute investor to be part of a fascinating new development.
“This type of development is more commonly seen in Queensland.
"Trinity Point is unique, once completed it will be a 5-star destination.
"Its location between Sydney and Newcastle makes access easy for a true weekender, investment or holiday home, but is also close enough to major centres to make this your primary residence.
"We expect interest from offshore and local developers, private investors and marina operators.”
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Joint venture partners being sought for Trinity Point, Lake Macquarie tourism project

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<img src="https://counter.theconversation.edu.au/content/80072/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
Looking at data, there is no evidence to support the notion that house prices have <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-06-02/have-we-finally-reached-peak-house-prices/8584470" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;">peaked</a> or are on the cusp of a <a href="https://www.theaustralian.com.au/news/inquirer/heated-house-market-hits-a-ceiling-in-sydney-and-melbourne/news-story/08a7b3f7cdb2feecfbcb15dd82746358" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;">downward trend</a>.
House prices in Australian capital cities <a href="https://www.corelogic.com.au/news/capital-city-dwelling-values-rise-0-8-over-june-quarter" target="_blank">rose slightly in June</a> after <a href="https://www.corelogic.com.au/news/multiple-indicators-point-to-softer-housing-market-conditions" target="_blank">falling in May</a>. But <a href="https://www.corelogic.com.au/research/monthly-indices" target="_blank">house price indexes</a> only show what’s happening in the market over a short time frame. Housing markets <a href="https://www.emeraldinsight.com/doi/pdfplus/10.1108/IJHMA-07-2016-0052" target="_blank">are volatile</a> and you could just be looking at a seasonal blip.
Looking at the market fundamentals, there are no signs of a housing market slowdown. These indicators include economic and population growth, the unemployment rate, new housing construction, and auction clearance rates. They give us an idea both of the overall demand in the market, as well as the ability to pay for housing.
As economic and population growth increase, for example, there is both more money to spend as well as more people in need of housing. The rate of new housing construction tells us what will happen to housing supply, and the percentage of housing successfully sold at auctions gives us an idea of where we are in the house price cycle.
<iframe src="https://datawrapper.dwcdn.net/ldRPb/7/" frameborder="0" scrolling="no" width="100%" height="600"></iframe>
<h2>Market fundamentals and key indicators</h2>
As you can see in the chart below, economic growth has been relatively strong in both New South Wales and Victoria. Growth in Gross State Product for both states was 2.6% in 2014-15, and even stronger in 2015-16; this was higher than the GDP growth rate of Australia overall.
This suggests that the local economies of both Melbourne and Sydney are performing better than the overall Australian economy. And a strong economy feeds into more demand for housing.
<iframe src="https://datawrapper.dwcdn.net/yahFE/4/" frameborder="0" scrolling="no" width="100%" height="400"></iframe>
The next thing to look at is the unemployment rate. A low unemployment rate means that fewer people are under pressure to sell their houses or default on their mortgages. This means the chance of sharp price correction in the housing market is lower when the unemployment rate is low.
Again, the unemployment rate in both New South Wales and Victoria is relatively low, around 4.8% in NSW and 6% in Victoria, <a href="https://lmip.gov.au/default.aspx?LMIP/Downloads/ABSLabourForceRegion" target="_blank">compared with other states</a>. Unemployment is almost 7% in South Australia, for example.
<iframe src="https://datawrapper.dwcdn.net/PYRCD/6/" frameborder="0" scrolling="no" width="100%" height="400"></iframe>
The auction clearance rate shows the percentage of housing that was successfully sold out of all the auctions that took place. The clearance rate roughly tracks housing prices - a high rate will normally be observed when house prices are high, and the reverse is also true. For example, the auction clearance rate was around 36-50% in Sydney in 2008.
Although the auction clearance rates in Melbourne and Sydney have dropped in recent months, they are still around 70%. This is comparable with the same period last year, giving no indication of a sudden movement in house prices one way or the other.
<iframe src="https://datawrapper.dwcdn.net/ZYdvt/5/" frameborder="0" scrolling="no" width="100%" height="400"></iframe>
The next indicator is the proportion of vacant properties in the housing supply, also known as the vacancy rate. This is used as a gauge of whether there is too much or too little supply of housing in the market. Normally, a housing market is cooling if there are many vacant properties.
The vacancy rate has remained stable in Sydney and Melbourne recently, within a range of 1.7-2.2%. This suggests that there is little evidence of an oversupply of housing, and that housing demand is strong in both markets.
<iframe src="https://datawrapper.dwcdn.net/AS04o/1/" frameborder="0" scrolling="no" width="100%" height="192"></iframe>
Sydney and Melbourne show signs of strong population growth. This is true not just now, but over the past 6 years. As we can see in the following graph, both cities have recorded growth rates ranging between 13,000 and 43,000 people per quarter.
The strong population growth rate reflects that the fundamental demand for housing in both cities are high. Although more new dwellings have been completed in recent years, the levels are <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/8752.0Dec%202016?OpenDocument" target="_blank">far below population growth</a>. This suggests that there is still more demand than supply in the housing markets in Sydney and Melbourne.
<iframe src="https://datawrapper.dwcdn.net/V70xi/5/" frameborder="0" scrolling="no" width="100%" height="400"></iframe>
The discrepancy between <a href="https://www.corelogic.com.au/news/multiple-indicators-point-to-softer-housing-market-conditions" target="_blank">May’s decline in capital city house prices</a>, and the other indicators that show no slow down in demand, illustrate the problem. These other indicators give you a better idea of overall demand for housing, which is what drives prices over the longer term.
Based on the prices alone, it is too early to tell whether the housing markets in Sydney and Melbourne are slowing or if they are on a downward trend. And the other indicators of the wider economy show us that housing demand is strong. It is only when this changes that you will know that house prices are slowing.
<hr>
This article included contributions from Mustapha Bangura, a PhD student researching housing affordability in Greater Western Sydney.
<a href="https://theconversation.com/profiles/chyi-lin-lee-368009" target="_blank">Chyi Lin Lee</a>, Associate Professor of Property, <a href="https://theconversation.com/institutions/western-sydney-university-1092" target="_blank">Western Sydney University</a>
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/how-to-tell-when-the-housing-market-is-slowing-80072" target="_blank">original article</a>.
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Chyilinlee-JrdcVPxeuK

How to tell when the housing market is slowing

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Tuscan-inspired apartments are being built in Canberra's Campbell 5 residential development.
The apartments, named Siena, feature 53 units marketed as a 'contemporary take on a traditional Tuscan villa'.
The development will feature 12 one-bedroom, 21 two-bedroom and 18-three bedroom apartments, and two four-bedroom penthouses, with prices for a one bedroom apartment starting at $399,000.
JWLand head of marketing, public relations and research Kate Hulm said the apartments feature flexible floorplans, designed to accommodate residents’ changing lifestyle needs.
“Similar to our first release, Saint-Germain, Siena has been designed with owner-occupiers and downsizers in mind,” she said.
“This is reflected in the timeless, elegant interior design style. Carrara marble, natural stone and European fine oak feature strongly in the interiors.
“Ahead of a new release there is always a great deal of anticipation from current buyers, Campbell residents and members of the broader Canberra community,” Ms Hulm said.
“People often try to guess what the next theme will be and offer their own ideas and suggestions.
"Siena was an obvious choice as it’s renowned for its architecture.
“The city of Siena is also surrounded by beautiful landscapes and mountain ranges much like the development site at Campbell 5."
Campbell 5 releases include the Danish-inspired Koben, Manhattan-style Greenwich Park and Parisian Saint-Germain.
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Tuscan-inspired apartments slated for Canberra's Campbell 5

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A three bedroom, four-bathroom, 53rd floor penthouse apartment in Coronation Property’s 8 Phillip Street residential tower has been sold for $3.325 million.
The penthouse features customised Woods Bagot interiors and 190sqm of internal living.
<img src="https://www.urban.com.au/images/2017/07/05/Screen%20Shot%202017-07-05%20at%2010.21.40%20AM.png" alt="">
Jason Soulos, Coronation Property sales director said the personalised service offering that allows purchasers to customise penthouse residences was a deciding factor for the buyer and his wife.
<img src="https://www.urban.com.au/images/2017/07/05/Screen%20Shot%202017-07-05%20at%2010.20.46%20AM.png" alt="">
“Certainly, the opportunity for the buyer to have a private consultation with one of Australia’s premier architects, Domenic Alvaro from Woods Bagot, and the ability to choose the moodboard for the residence, as well as premium additions such as wine fridges, was a significant attraction,” said Mr Soulos.
“We feel such a significant investment warrants this level of service, to ensure the buyer and his wife move into a home that reflects their personal taste and style, and which differentiates it as distinctly theirs.
<img src="https://www.urban.com.au/images/2017/07/05/Screen%20Shot%202017-07-05%20at%2010.22.46%20AM.png" alt="">
“The buyer mentioned that he was particularly impressed by the concept of having a five-star QT Hotel on the lower levels and residential living above, similar to developments he had previously seen in New York.
“Also, the recent announcement that two of Rockpool Dining Group’s signature restaurants will be located onsite at 8 Phillip Street was the icing on the cake."
<img src="https://www.urban.com.au/images/2017/07/05/Screen%20Shot%202017-07-05%20at%2010.23.29%20AM.png" alt="">
When completed, 8 Phillip Street will feature 314 residences, with apartments to include one, two and three bedroom configurations, as well as studio and penthouse options as well as Sydney’s highest rooftop venue, Studio 54, a signature bar &amp; grill restaurant, multiple meeting and event spaces, and a grand ballroom. 
For more information, <a href="https://www.liveat8phillipst.com.au/" target="_blank">click here</a>. 
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53rd floor penthouse apartment in Coronation Property’s 8 Phillip Street development sold

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<img src="https://counter.theconversation.edu.au/content/80203/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Melburnians have been talking about a train to Tullamarine Airport since well before it opened. Now Prime Minister Malcolm Turnbull has made clear his enthusiasm for an airport rail line, with or without state government support.
But these conversations need to move beyond the question of getting travellers between their plane and their city hotel.
Beyond airport access, this proposal highlights the potential for rail projects to shape Melbourne and feed an integrated public transport system that could serve its growing population.
How railways shape our cities
Transport investment shapes cities, but different modes have diverse effects.
Freeways, tollways and arterial roads (used by cars, taxis, ride-sharing services and buses, as well as trucks) encourage cities to extend horizontally at low densities. Rail-based modes (trams, light rail and trains, both passenger and freight) encourage intensification of corridors and centres.
Melbourne has concentrated most of its post-war transport investment on road-based transport. It has done very little to extend the enormous rail-based legacy of trams and trains built during the first century of European settlement. This is despite transport plans that proposed doubling the tramway system in 1923, and adding several new railway lines – including to Doncaster, Rowville, and between Dandenong and Frankston.
Until 2015, the only major investment in suburban rail since the 1950s was the City Loop, which opened in 1981 after a decade of construction.
The City Loop’s clear legacy has been the transformation of Melbourne’s CBD into one of the highest-density mixed-use precincts in Australia. This has driven some of the fastest growth in residential population anywhere in the country.
The demonstrated desirability of apartment living in urban centres, driven by the accessibility delivered by metro-quality public transport, shows how investment in rail-based transport can reshape cities. While many have advocated this for decades, the precedents have primarily been European or North American.
Australians now have homegrown experience of what transit-oriented urbanism could mean. Sydney has many examples of substantial rail-based suburban intensification. Centres such as Chatswood, Bondi Junction, St Leonards, Strathfield and Wolli Creek (close to Sydney Airport) offer insight into opportunities for Melbourne and elsewhere.
Airport rail can give structure to city’s growing west
A 25-minute metro journey from Melbourne’s Southern Cross station to the airport via Maribyrnong would appear time-competitive with the profitable and popular SkyBus service.
However, unlike SkyBus, rail has the potential to fundamentally reshape Melbourne’s northwestern corridor.
A metro line to the airport east of the currently favoured Albion corridor could realise the considerable intensification potential of many sites along its route. This is no bad thing. Melbourne’s population is projected to rise to 8 million by 2051, with disproportionate growth in the western suburbs.
Although exact alignments are up for grabs, significant urban renewal potential exists at Flemington, Footscray, Highpoint, the former Maribyrnong Defence site, Essendon Fields, Airport West, Tullamarine, and at the airport itself.
By directly investing in rail infrastructure, the federal government would reap the benefits of the land it owns and unlock the potential of many other locations. This is what integrating public transport and land-use planning looks like. And the urban outcome is vastly different from the current paradigm of road-driven transport and land-use planning.
Realising the full potential of an integrated transport system
A rail link won’t provide for all of the access demands for travel to and from the airport.
For that to occur, a comprehensive multi-modal network solution that serves a much wider catchment is needed. There will always be people living beyond an easy stroll to a train station. Their needs can only be met by a radical rethink of Melbourne’s buses in addition to rail-based investment.
However, the latest proposal offers alternative ways to think about long-promised rail lines – such as Doncaster and Rowville – as part of a network, linking intensified suburban centres.
Some lines have the ability to do what Infrastructure Victoria has recommended to increase development densities in Melbourne’s eastern suburbs, using light rail. For example, connecting Doncaster to the suburbs to its south and east, as well as its west, will provide great potential for intensification.
For Rowville, a light rail to Gardenvale will provide better public transport integration while maximising intensification potential.
Other comparable cities are realising the most effective combinations of public transport and land-use investment with light rail. In Montreal, Canada, the Quebec Pension Fund is investing in 67 kilometres of driverless light rail. This will link the city’s airport with urban redevelopment zones and existing metro lines to create a city-wide multi-modal network.
In Melbourne, thinking about the city-shaping potential of rail-based transport should focus minds on the priority to plan and build Melbourne Metro 2. This would provide a tunnel between Clifton Hill and Newport, creating a cross-town metro from Wyndham Vale to Mernda via Fishermans Bend, which is currently bereft of quality public transport.
Melbourne Metro 2 would also improve the chances that Werribee East can realise its potential.
Turnbull is to be congratulated for his reported support for airport rail. But we should be wary of losing sight of the wood for the trees – or, more accurately, the network for the line.
Victoria urgently needs a transport plan premised on integrated public transport and land-use planning. Only then might it work toward a liveable city for 8 million people.
<a href="https://theconversation.com/profiles/ian-woodcock-150260" target="_blank">Ian Woodcock</a> is Lecturer, School of Global, Urban &amp; Social Studies, RMIT University. 
<a href="https://theconversation.com/profiles/iain-lawrie-387154" target="_blank">Iain Lawrie </a>is Sessional Lecturer in Urban Planning, University of Melbourne.
All are authors for The Conversation.
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Airport rail link can open up new possibilities for the rest of Melbourne

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GUEST OBSERVER
As widely expected, the RBA left the official cash rate unchanged at 1.50 percent at its July meeting. The Governor’s decision statement was also largely the same as in June with no substantive changes to the key closing paragraphs and other tweaks mostly minor and even-handed in terms of policy implications.
Indeed, there are only really four changes between the June and July decisions statements:
On commodity prices, last month’s observation that “prices of iron ore and coal have declined over recent months as expected” is dropped with the July statement simply noting the “rise in commodity prices over the past year has boosted Australia’s national income”;
On the global inflation backdrop, the Governor has added a line noting that “wage growth remains subdued in most countries, as does core inflation”;
On growth domestically, the statement seems to take a less positive view: the slowdown in the March quarter which was previously viewed as “reflecting … quarter to quarter variation” now described as only “partly reflecting temporary factors”; consumption growth viewed as subdued and reflecting slow growth in real wages and high household debt; and the line reaffirming the Bank’s positive medium term outlook for growth to increase gradually to “a little above 3 per cent” was dropped (although this may simply reflect the fact that the Bank will be making a full reassessment of its forecasts leading into the August Statement on Monetary Policy).
On labour market conditions, the Governor’s statement removes last month’s observation that “growth in hours worked remains weak”.
The closing three paragraphs – on financial conditions (“outlook … supported by the low level of interest rates”; “an appreciating exchange rate would complicate” the transition following the mining investment boom”); housing markets (varying “considerably around the country”; “additional supply of apartments ... scheduled to come on stream”; “recent supervisory measures should help address risks”); and the policy view (no guidance) – are almost completely unchanged from June.
Notably absent from the Governor’s decision statement is any hawkishness around the medium term policy outlook. With several other developed economy central banks showing a surprisingly hawkish turn of rhetoric in recent weeks the market seemed to toy with the idea the RBA might say something similar – particularly given recent comments from an ex RBA Board member that a significant increase in the cash rate might be required over the medium term to return rates to ‘neutral’.
Also notable in our view is the absence of commentary around labour market slack – aside from solid gains in jobs and hours worked, the May labour force survey also showed a surprise fall in the unemployment rate to 5.5% and in wider measures of labour market slack that include underemployed workers. That suggests the Bank may be wary of making too much of these latest observations, particularly given the more uncertain link to wages growth.
Conclusion
Overall the July decision and Governor’s statement gives little additional information with only incremental changes in commentary. The minutes may provide some additional insight, particularly if medium term policy normalisation issues were discussed. However, we suspect the Bank will continue to hold a pointedly neutral stance on policy guidance.
The August meeting could see a more material review of its commentary, with a key update on CPI inflation due July 26 and the Bank reassessing its economic forecasts ahead of the August Statement on Monetary Policy (due out August 4).
However, even with some potential downgrade to 2018 growth forecasts (Westpac continues to expect growth of 2.5%, well below the Bank’s 3.25% mid-point forecast) none of this is likely to present enough of a case to establish an explicit policy bias. All up, we continue to see no reason to change our current view that the official cash rate will remain on hold throughout 2017 and 2018.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/">Westpac</a>.
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Only minor changes to RBA Governor’s decision statement on housing: Matthew Hassan

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GUEST OBSERVER
As expected the RBA left the official cash rate on hold at 1.5 percent for the eleventh month in a row.
In fact, apart from acknowledging the soft March quarter GDP outcome the RBA made only minor changes to its post meeting statement: it continues to see a broad based pick up in global growth, expects Australian growth and inflation to gradually pick up while acknowledging the softness in consumer spending and sees signs that conditions in the Sydney and Melbourne property markets are starting to ease and notes that supervisory measures should help address the risks around household debt.
More importantly, the RBA retained a somewhat neutral bias in terms of the outlook for monetary policy. Contrary to the expectations of some, there was no attempt to adopt a hawkish tilt in line with recent comments from the ECB, Bank of England and Bank of Canada.
Not following other central banks down a premature hawkish tilt was a good move because it saw the $A dip around 1% after the RBA announcement. Quite clearly the RBA remains concerned that “an appreciating exchange rate would complicate” the adjustment in the economy post the mining investment boom and adopting a hawkish tilt now would only have added to this concern. 
Our view remains that the RBA will be on hold for the next year at least, with risks around the consumer and a housing slowdown preventing hikes but a fading in the drag from the mining investment slump and solid employment growth heading off cuts. Around our base case, for the next year we still see more risk of a cut than a hike but by late 2018 and 2019 the risks are likely to swing towards a hike.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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RBA on hold - no 'me too' hawkishness

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GUEST OBSERVER
The RBA held its cash rate steady at 1.50 percent, which was no surprise. However, for some, the neutral tone of the post-meeting statement, which was as we had expected, might have been a bit disappointing.
Unlike a number of other central banks that have turned hawkish in recent weeks (including Bank of Canada and Norges Bank), the RBA maintained a clear neutral stance.
The post-meeting statement was similar to last month and the RBA felt no need to give any forward guidance. This is classic RBA style. Despite the improving labour market numbers, the RBA stuck by its previous phrasing of 'indicators of the labour market remain mixed' and that wages growth remains low and 'that this is likely to continue for a while yet'. As a result, the AUD fell and short end pricing moved a few basis points lower. Our central view is that the RBA will lift its cash rate in Q1 2018.
Facts
- The RBA kept its cash rate steady at 1.50% as expected by all 29 economists in the Bloomberg survey. Just prior to the announcement the market was pricing an 8% chance of a 25bp hike by December 2017 and was fully priced for a 25bp cash rate rise by Q4 2018.
Implications
Observers that were looking for a hawkish tilt from the RBA today will have been disappointed. The statement provided no new forward guidance or hints that the RBA may consider lifting rates any time soon. This is typical RBA style. The RBA tends to provide less active forward guidance than many other central banks. Plus, although we think the RBA should now be completely re- affirmed that it will not need to cut further, given an improving labour market and business conditions, a hike is still likely to be some time away.
The statement was largely unchanged from last month, with some minor adjustments. In particular, it noted that GDP had slowed in Q1, but that this was 'as expected' and partly reflected 'temporary factors'. The statement also dropped the reference to growth being expected to lift to 'a little above 3%' in the next couple of years, but still noted that the 'Australian economy is expected to gradually strengthen'.
The RBA continued to note that the 'indicators of the labour market remain mixed' and that 'wages growth remains low ... and this is expected to continue for a while yet'. The reference to a still mixed labour market almost certainly refers to weak wages growth, rather their reading of the recent employment figures.
So, what is needed to get the RBA to think about lifting its cash rate? In our view, the answer is a pick-up in wages growth. Once there are signs that wages growth is past its trough, we expect that it won't be long before the RBA is lifting its cash rate. 
Indeed, we see the RBA as likely to be quite keen to lift its cash rate earlier, rather than later, because of its concerns about the housing market. Today's statement continued to note that 'housing prices have been rising briskly in some markets'.
It is clear that, although the RBA has deemed that they have needed a very low, 1.50% cash rate, to get the economy to rebalance at the end of the mining boom, low rates are also causing problems. Low mortgage rate have boosted housing prices and household debt in the major cities. So, although the low cash rate may be the right setting for the inflation outlook, it has been too low for the Sydney and Melbourne housing markets.
The solution to this problem has been to tighten up the prudential settings. That way, although risk is still building up on the household balance sheet, tighter lending standards are helping to ensure minimal misallocation of lending.
But this is a second best solution. A first best solution is to set the cash rate at an appropriate level for the overall economy and for the housing market. This is why, in our view, the RBA will be keen to start lifting its cash rate as soon as it deems that the macro-economy will allow it. And what does it need to see? A lift in wages growth.
We see wages growth picking up in the second half of 2017. As a result, our central view is that the RBA will begin to lift its cash rate in Q1 2018. 
Paul Bloxham is chief economist (ANZ) for HSBC. Daniel Smith is economist. They can be contacted <a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">here</a>.
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