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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One Airlie is a new development in the Whitsundays region, one of Australia’s premier holiday destinations.

It is a gated community of 12 residences with landscaping.

[smartcode_project:default project_id=90071]

The land offerings are between 727 sqm to 2242 sqm.

They are now offered from $695,000 with waterfront lot prices starting at $1,095,000.

The civil works at One Airlie, adjacent to the Whitsunday Sailing Club, have begun.

<img alt="" src="https://www.urban.com.au/images/2017/06/22/Picture-2.jpeg">

Some 10 residents will have ocean frontage.

Activities such as sailing, swimming or diving are all possible nearby. Located on the mainland, just east of Airlie Beach's main street, One Airlie also puts you at the gateway to more than 74 Whitsunday Islands and the Great Barrier Reef marine park.

Airlie Beach is due to experience significant growth and will become a ‘hotspot’ of coastal real estate now that major tourism infrastructure investment has been fast tracked, according to local PRD Whitsunday Principal, Christie Leet.

For more information <a href="https://googleads.g.doubleclick.net/pcs/click?xai=AKAOjsuRR05c7g2j_JynBJH9zAW7W5F9n2F8JzTuvPFA2xl2qsijxoegSi5se_Lg3zfwoXxS07Kw92XJeLN1Xaj6jeYmv8NwVpPUqs5mqkZHgv29bbH4T_Sze0u2dDF-L0f0zNLFWodmoba7mqVcpfqVInDAcA70jGUUINpo3kjF9gGKzV_nN7s-vDpZFtciBMNx6Cex8hx6kqNGoYlCVcOBmGY8Z0kO2f2_V3oH03xzATN1QB5_NPDBvda7jufiZhkjDz5JI9N9MzKXmv8&amp;sig=Cg0ArKJSzFJswJ7UEX1B&amp;adurl=https://oneairlie.com.au/&amp;nm=5&amp;nx=163&amp;ny=-301&amp;mb=2&amp;clkt=99" target="_blank">click here.</a>

[smartcode_project:default project_id=7854]
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Whitsundays' One Airlie building blocks now available from $695,000

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GUEST OBSERVER
Australia continues to draw attention from overseas investors, but is Parramatta becoming Australia’s fastest growing CBD?
The combination of infrastructure improvements, development activity and population growth have transformed Parramatta into a vibrant city, which is popular with renters, first time buyers, young families and investors alike.
Parramatta is the second oldest colonial town in Australia, founded shortly after Sydney. The city was initially established as a farming settlement and the population grew rapidly as new settlers arrived by river and subsequently road and railway. Since then, Sydney has expanded and today Parramatta is located in the centre of Greater Sydney.
Forecast to be vital to Sydney’s future, Parramatta is now a city in transition with significant residential and commercial development activity taking place.
The centre of Parramatta is already considered Sydney’s second CBD with an extensive commercial centre with substantial retail amenities.
The suburb has benefited from a number of government agencies and private sector companies relocating or opening new offices in the area.
These moves mean there is a greater number of high earning professionals, not just working, but often living in the area as well as utilising the retail, dining and leisure facilities. Parramatta is a culturally diverse city and has an international community.
The residents ancestry are more mixed compared to greater Sydney with 21.3 percent ancestry described as Indian, 21.2 percent as Chinese and 19.3 percent as Australian or English. As such, this cultural community attracts the international buyers who provide an important source of demand for the housing market as both owner-occupiers and investors.
In addition, the population of Parramatta is forecast to increase by 75 percent over the next 20 years which will contribute towards increased demand for residential properties.
Aside from the ongoing development activity and popular dining precinct, Parramatta will continue to evolve due to the infrastructure improvements taking place. The State Government has committed $10 billion to infrastructure investment for Parramatta and Western Sydney, which includes the new Sydney Metro West, Light Rail network, integrated and upgraded roads, rail, buses and ferry services.
Sophie Chick is the Head of Research – Residential for Savills. She can be contacted <a href="https://www.savills.com.au/blog/author/148069/Sophie" target="_blank">here</a>.
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How is the changing landscape in Parramatta impacting residential property?: Sophie Chick

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GUEST OBSERVER
The weekly ANZ/Roy Morgan consumer confidence rating eased from 112.4 to a 5-week low of 111.8 in the week to June 25.
Engineering work lifts: Work done rose by 2.8 percent in the March quarter to $20.3 billion.
Outstanding work: The value of engineering work still to be completed stood at a 71⁄2-year low of $59.8 billion at the end of March.
Consumer confidence data is important for retailers.
The data on engineering construction is important for builders, building material and construction-dependent companies.
<a href="https://www.propertyobserver.com.au/images/2017/06/28/Screen%20Shot%202017-06-28%20at%201.32.46%20PM.png" target="_blank">Click to enlarge</a>
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What does it all mean?
Consumer confidence remains just OK. Most Aussie consumers are still grappling with the new reality that annual wage growth will now be closer to 2 percent rather than 3-4 percent as in the past.
Still, what is lost on most is the fact that wages are growing at a faster rate than household inflation. And the job market continues to improve with the jobless rate at 4-year lows.
While business confidence is near 7-year highs, consumer confidence is merely trending sideways. The hope is that with profits at record highs and real unit labour costs falling, more jobs will be created, thus leading to a tighter job market and serving to push wages higher.
The mining construction boom continues to unwind. The value of outstanding engineering work has fallen to 71⁄2- year lows around $60 billion, but the value of work yet to be done has scope to fall further to get to the levels existing before the mining boom commenced.
The new economic driver in the next few years will be broader economic and social infrastructure building, especially that progressed by state and federal governments.
What do the figures show?
Consumer sentiment
The weekly ANZ/Roy Morgan consumer confidence rating eased from 112.4 to 111.8 in the week to June 25. Confidence is down 4.3 percent over the year and below the average of 113.1 since 2014.
Three of the five components of the index fell in the latest week:
<ul>
<li>The estimate of family finances compared with a year ago was unchanged at a reading of zero;</li>
<li>The estimate of family finances over the next year was down from +23 to +21;</li>
<li>Economic conditions over the next 12 months was up from -6 to -3;</li>
<li>Economic conditions over the next 5 years was down from +4 to +3;</li>
<li>The measure of whether it was a good time to buy a major household item was down from +41 to +38:</li>
</ul>
Engineering construction
Engineering construction work completed in the March quarter (activities like roads, bridges, pipelines and railways) rose by 2.8 percent in real terms. 
Work done was down 12.5 percent on a year ago. But while work done for the private sector was down 22.4 percent over the year, work done for the public sector was up by 10.2 percent.
The value of engineering work yet to be done stood at $59.8 billion at the end of March with private sector work standing at $56 billion and public sector work at $3.8 billion. 
While outstanding work is at 71⁄2-year lows, the value of the projects is still double the level that prevailed a decade ago in December 2006, just before the Chinese-driven mining construction boom. 
Characteristics of Exporters 
The total number of exporters of goods and/or services in 2015/16 was 53,350, an increase of 2,454 (5 percent) from 2014/15.
The number of goods exporters increased by 2,611 (5 per cent) and the number of services exporters decreased by 136 (-4 percent).
The increase in the number of exporters was across the board, except for large goods exporters (over $100m) and services exporters.
The number of goods exporters increased in each of the main industry divisions, except for Mining. What is the importance of the economic data?
The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.
<div class="column"><a href="https://www.propertyobserver.com.au/images/2017/06/28/Screen%20Shot%202017-06-28%20at%201.34.03%20PM.png" target="_blank">Click to enlarge</a></div>
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The Australian Bureau of Statistics provides detailed estimates on Engineering Construction each quarter. The data is valuable in gauging activity levels across the sector. 
The Australian Bureau of Statistics provides insights on Australian exporters each year to highlight trends. What are the implications for interest rates and investors?
CommSec expects the Reserve Bank to remain on the interest rate sidelines for an extended period. The mining boom is over, but home building is at record levels and public infrastructure construction is about to ramp up. The economy is poised to enter a new phase.
Consumers aren’t super-optimistic, but neither are they super-pessimistic. Basically they are just taking stock of the changing landscape. Unfortunately political wrangling isn’t helping to boost consumer sentiment, despite some favourable influences such as strong job growth and lower petrol prices. 
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Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx">CommSec</a>. 
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Wages growing at a faster rate than household inflation: Craig James

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GUEST OBSERVER
The revised Urban Renewal Corridor Strategy for Sydenham to Bankstown must keep urban densities that support the proposed Metro Rail.
The important Priority Precinct along the Sydenham to Bankstown rail corridor must support an urban density particularly around the new Metro Rail stations.
We are however concerned that the planning is taking a long time since the exhibition of the first Draft Strategy eighteen months ago.
The corridor is a good case study for how new Metro Rail infrastructure can stimulate new urban density but it seems the planning process could take three years from early planning to implementation.
Precincts like Campsie are having further investigation work undertaken by the Department of Planning and Environment and it is unclear if this could lead to a third round of exhibitions.
Former Governor of the Reserve Bank, Glenn Stevens, in his report to the NSW Government raised concerns about the time planning processes took relative to the ups and downs of markets.
The development industry gets a clear signal when a draft plan is exhibited that the government supports development in priority locations but actual planning approvals often have to wait for some years.
While there has been a reduction of around 2,000 new homes in some areas the overall proposed number of new dwellings at 35,400 is still a robust number. The Urban Taskforce urges the NSW Government to not make further reductions following the exhibition of this second draft.
The move away from medium density housing in Hurlstone Park and Dulwich Hill in favour of single dwellings due to community concerns about local character could be a signal that the government’s proposed ‘Missing Middle’ approach for medium density housing may not be preferred by existing communities of single homes.
The Draft Strategy seems to leave some areas unclear. The definition of Medium-high rise housing, which is the tallest, is not included. The Draft Strategy states that ‘specific building typologies for each individual Station Precinct’ are included in the revised strategy but is unclear where these typologies are. The Draft Strategy also states that detailed master plans are to be prepared for Canterbury, Campsie, Belmore and Lakemba Station Precincts so these will presumably occur some-time in the future.
The Urban Taskforce is keen to be involved in discussions with the NSW Government to ensure that the planning approach to Metro Rail related urban renewal is planned in a timely manner and with appropriate densities to accommodate future growth.
We are also keen to be involved in precinct planning around other stations on the Sydney Metro line at North Sydney and Crows Nest/ St Leonards. These are areas where there are excellent opportunities for quality urban development but the planning process for these precincts is unclear.
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Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Sydenham to Bankstown revitalisation corridor must keep urban density

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Cheques are so yesterday, and even the hallowed institution, the Reserve Bank of Australia has acknowledged their coming demise.
Paper cheques could perhaps even soon warrant a historical feature alongside the shillings, pence and pounds currency display at the RBA's Martin Place headquarters.
In 1980 cheques made up 85% of all non-cash payments.
Fast-forward to 2016, cheques made up about 1% of the number of non-cash payments, and about 7% of the value of such payments, said the RBA bulletin.
Cheques have long been integral in buying property - both the deposit at the weekend auction, plus the full amount on settlement.
Last year financial institution cheques made up only 9% of the number of cheques written, but accounted for over half of the value of cheques given pricey property acquisitions and related transactions such as the payment of stamp duty. 
The bank produced a chart which shows the issuance of cheques closely correlated with property market transactions. 
These financial institution cheques are also often used for the private sales of cars and are also still used widely for rental bonds. 
Recently, Macquarie Bank announced it was testing a DEFT Auction Pay system that allows buyers to pay their deposit electronically.
The new system allows buyers to do away with the chequebook at auctions when paying a deposit.
Electronic conveyancing is coming too.
The number of settlements transacted is still moderate in the paperless conveyancing scheme, and much relates to refinancing rather than property sales.
The paperless push is lead by GlobalX CEO Peter Maloney who recently noted almost $40 billion worth of property transactions have gone through the platform.
There were around 20,000 PEXA-related property settlements, including refinancing, in the March quarter 2017, some three years into the scheme, Reserve Bank data shows.
This compares with about 120,000 sales transactions in the national housing market in the same period.
The New South Wales government has a commitment to a complete digital property exchange by July 2019, though lawyers and conveyancers are proving to be the biggest roadblock, a recent survey by legal search provider InfoTrack found.
“The results are disappointing and clearly demonstrate that lawyers in the real estate sector must overcome their long-held resistance to new technologies,” says InfoTrack chief executive John Ahern.
The traditional paper-based systems are set to be replaced by the PEXA electronic conveyancing system – currently the only e-conveyancing system available for use in Australia - which appears to has to date failed to attract significant industry support due to concerns over its security, cost and efficiency.
There ought be enormous time and cost efficiencies in moving to digital platforms, however currently entrenched 19th century thinking is costing consumers. 
The NSW Legislative Impact Study indicated that a 13-year uptake period was expected.
This article first appeared in The Daily Telegraph.
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Cheque-ing in on the state of paper property transactions

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There is no need to get spooked out by the recent talk about Australia’s housing market bubble set to burst, especially after CoreLogic data pointed to prices dropping, but rather it maybe that the market is taking a breather, says a leading industry executive.
The CoreLogic data that came out last week showed a slight dip in prices. But most of the headlines were about two cities: Sydney and Melbourne, says Mark Bouris, the executive chairman of wealth manager Yellow Brick Road.
“We need to remember that prices have been going gangbusters there for more than five years,” he said in a column in Fairfax Media.
Also, Australia is a patchwork of very different markets. In May, prices rose in Brisbane and Adelaide, while values in Perth and Darwin fell. 
“And that doesn't take into account all the regional areas, where things such as employment and infrastructure have a big impact on housing prices,” adds Bouris.
“If you only read the headlines, it's easy to get spooked about property. But based on the latest data, we aren't talking about a bubble bursting or prices falling off a cliff – we're seeing the market take a breather. After all, it's been running at full tilt for a while now.”
For owner-occupiers, the implications could be that if there has been good capital growth and then one might want to tap into your home equity to buy another property.
Some lenders have pulled back on investor loans, thanks to pressure from the banking regulators, but the tap hasn't been turned off altogether, he says.
“The key is to be sensible. Think about "serviceability" – making sure you have the income to cover an investment loan, especially if it's negatively geared.
“And don't overextend by getting the biggest loan possible – choose something you can still afford if interest rates increase or rental income flatlines.”
For investors, a “less frothy market” means the need to look harder for the right property, he advises. 
One needs to pay close attention to the fundamentals such as the area’s supply and demand for housing.
“Supply is one half of the equation, so look at things such as development application (DA) approvals to see how much is in the pipeline.
“On the other hand, demand is influenced by population growth and where jobs are coming from – so make sure it's an area people want to be in,” he adds.
A lot of this data is publicly available using sources such as the Australian Bureau of Statistics. 
“Think of it as a business decision and do your homework properly.”
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Property market taking a breather: Yellow Brick Road's Mark Bouris

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Buyers are snapping up the apartments in Modulus, located at 1 Birriga Lane, Bellevue Hill, with 60% sold and only two five-bedroom penthouses remaining.
The property will seek to achieve the Green Building Council of Australia’s 6 Star Green Star rating upon completion – the first multi-residential building in the country to attempt to do so in combination with a PassivHaus rating.
The super-eco-friendly property features next-level technological advancements with a boutique, luxury feel, and has a hugely futuristic appeal for environmentally-friendly and health-conscious buyers who are looking to achieve that next level of holistic yet luxurious living in one of the most sought-after locations in Australia.
Modulus is surrounded by sustainable, edible gardens with rainforest species framing outdoor terraces and palms filtering neighbours’ views.
Only the penthouses remain available, priced at between $6.6 million and $6.8 million.
The two bedrooms were offered between $2.3 million and $2.4 million and the three bedrooms were priced between $3.85 million and $4.5 million.
Knight Frank’s head of prestige residential sales, Australia Deborah Cullen and sales executive, prestige residential sales, Australia Richard Sholl are marketing the property on behalf of behalf of Modulus Luxury.
According to Cullen, this type of property is becoming increasingly sought-after in the luxury market, with sustainability one of the foremost topics in buyers’ minds.
“Modulus offers the trifecta for purchasers – location, technology and sustainability, and luxury.
“It is positioned in Sydney’s highly sought-after Eastern Suburbs, close to Bondi Beach and the CBD; features superior technology and sustainability features; and is beautifully, architecturally designed to improve health and wellbeing.”
According to Rajesh Nellore, Modulus luxury managing director, Modulus is designed with next-level technology from the clean tech industry.
“We support research, development and investment into sustainable living,” said Nellore.
“Today, buildings account for 40 per cent of global resource use.
“To make matters worse, building developers often tap forests and other resources in a way that depletes them, harms biodiversity, and generates pollution.
“Modulus is designed with ultimate eco-friendly waste and energy management in mind, and is part of a new generation of ‘smart homes’.
“Even the materials used to build the property were developed using materials that aim to minimise environmental impact, including the depletion of resources, impacts on bio diversity, greenhouse emissions and toxic waste.
“Modulus has an intelligent control system that directs the electricity produced by solar energy.
“To sustain residents’ good health, the apartments facilitate excellent natural ventilation and can also pump additional oxygen into homes while occupants are sleeping.
“Building materials are also selected to maintain healthy indoor air quality.”
Modulus features PassivHaus, a high-performance building design, with high levels of sustainable infrastructure and insulation – creating consistent internal thermal comfort without input from active heating or cooling systems.
It has sophisticated active and passive air conditioning systems, allowing the house to operate in three different modes of comfort conditioning.
Modulus features a ‘green roof’ partially covered with plants, offering numerous advantages, including a natural habitat for birds; storm water runoff reduction; and a filtration system for rainwater.
The ’green roof’ also serves as a meditation centre with meditation pods, decreasing stress through tranquillity.
For more information, visit <a href="https://www.propertyobserver.com.au/modulusluxury.com" target="_blank">modulusluxury.com</a>.
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Bellevue Hill apartment development Modulus quickly snapped up by buyers

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The regional housing markets of Australia have long been laggards when compared to the capital city markets however, the latest data shows that many of these regions have seen values rise over the past year.
Looking at data for the 50 most populous non-capital city council areas, the majority of them have seen house and unit values increase over the 12 months to May 2017.
The data indicates that after a long period of soft housing market conditions following the financial crisis, housing demand is starting to pick up across many of the larger regional areas.
Those areas that are continuing to see values fall are in many instances linked to the mining and resources sector.
Median house and unit values and 12 month value change to May 2017 in largest non-capital city council areas:
<img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2017-06-23--pp1.jpg" alt="2017-06-23--pp1" width="542" height="1067">
Of the non-capital city council areas analysed, the Wollongong council area is the most expensive for houses ($730,427) and units ($530,170) as well as having seen the greatest increase in house values and the fourth highest increase in unit value over the past year.
The Wollongong housing market has seen housing demand rise as demand ripples away from Sydney where affordability constraints are more pressing.
Additionally, prices are being pushed higher as more people seek out coastal and lifestyle properties.
In New South Wales in particular, regional areas of the state, particularly those reasonably close to Sydney are generally seeing strong value growth.
This is most likely linked to affordability relative to Sydney as well as Sydney home owners using the equity in their home to purchase investment properties in lifestyle markets.
The regional areas of Victoria, particularly those close to Melbourne, are experiencing value growth however, it is nowhere near the magnitude to which values are growing in those locations close to Sydney.
Although values are rising, the relatively softer growth can be linked to the fact that values have not risen as sharply in Melbourne as they have in Sydney and subsequently affordability hasn’t deteriorated as severely in Melbourne.
Queensland’s results are somewhat more mixed with the south-east corner generally seeing values rise while elsewhere growth is extremely mild or values have fallen.
In fact, the Gold and Sunshine Coasts and Noosa are seeing more rapid value growth than Brisbane is.
It seems as if a lot of demand across these regions is coming from the accelerating internal migration to Queensland and buyers from Sydney and Melbourne that have substantial equity in their homes and are looking for lifestyle properties.
Of the areas that we looked at, each of the 24 regions we highlighted in New South Wales have recorded value growth for houses over the past year.
For units, only four of the 24 regions have recorded value falls over the past 12 months.
In Victoria we highlighted 10 regional council areas in the analysis.  Of these regions analysed, two recorded value falls over the year for houses and two regions also recorded falls for unit values.
Greater Shepparton was the only council area of the state which recorded value falls for houses and units.
Of the 13 regions highlighted for Queensland, five have recorded value falls for houses over the past year and seven have recorded declines for units.
Each of the regions highlighted in Western Australia have recorded value falls over the past year for houses and units.
Launceston was the only region analysed in Tasmania and it has seen house and unit values rise over the past year.
It should be noted while values have increased they have done so at a more moderate pace than those in Hobart.
Overall it seems that housing demand in regional areas of the country is rising.
While many regions are seeing value increase, the strongest demand appears to be in those areas within relatively close proximity to capital cities, particularly those which are coastal and tap into lifestyle demand.
Cameron Kusher is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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Regional property price growth is on the way: CoreLogic

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Ray White Broadbeach prestige agents Sam Guo and Julia Kuo have just sold more than $22 million of Gold Coast property across eight properties over the past four weeks.
So far this year Mr Guo and Ms Kuo have sold more than $110 million in the current financial year.
This dynamic pair have established a reputation in the Gold Coast's competitive and challenging market.
Mr Guo, who was born in Sichuan province said his Chinese heritage was definitely a big advantage in his sales success.
"Of course, there’s no doubt.
“But then I always have a good month before I go away as I try and close all the deals before I go to and have a break with my family, and not leave any open.
“I like to leave and have good peace of mind that I have worked hard for my owners and I can enjoy my break,” said Mr Guo before he heads off overseas for a few weeks.
Click to enlarge
<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/2017/06/28/201706280942-31085-22mSoldin23Days.jpg" alt="">
Of the eight properties, half sold to local families or interstate buyers, and the rest to international buyers.
"My Chinese buyers of 14 Southern Cross Drive, Cronin Island who just bought it for $5.6 million spent three days with me and then bought that one.
"Chinese buyers are comfortable with us as there is trust and often people in the Chinese community will refer me as someone they can trust.
“They say ‘deal with him, good choice’. Word of mouth referral is critical with Chinese people and if I get positive referrals then definitely helps.”
Number 14 Southern Cross Drive, Cronin Island was a grand three-level six bedroom north-facing mansion on 1262sq m.
“This house represents opulence from a time gone by," Mr Guo said.
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Top Gold Coast agents sell $22 million in past four weeks

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A leased office building with development potential in the Sydney CBD has been put up for sale by fund manager Centuria with price expectations of more than $220 million.
Centuria will be selling 100 per cent freehold interest in Swire House, <a href="https://centuria.com.au/unlisted-property-funds/property-portfolio/10-spring-street-sydney/" target="_blank">10 Spring Street</a>, according to Savills, which is marketing the property along with INC Real Estate.
Recent stock withdrawals for residential conversion and the Sydney Metro has created  strong demand for B Grade office space in the Sydney CBD, while driving down yields, according to Savills.
The subsequent spike in rents, coupled with limited opportunities to purchase investments (particularly those with supersite development potential), has driven yields down as local private and institutional money and offshore capital try to secure assets to cash in on tenant demand.
The Spring Street building has 53 per cent of leases up for renewal in the next 24 months. 
The 13,871 sqm building sits on a site area of 1,505 sqm and has large, effective floor plates over 17 levels including retail, with floor to ceiling glass windows and harbour views from the upper floors.
It last changed hands for $91,638,000 in 2013, according to Corelogic RP Data.
The listing agents are Simon Fenn, Graeme Russell and Ben Azar of Savills Australia and Josh Cullen and Rick Butler of INC Real Estate.
<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/2017/06/28/SpringSt2.jpg" alt="">
The refurbished building offers a short Weighted Average Lease Expiry (WALE) and existing vacancy on the upper floors, allowing for positive reversion to be captured, said Simon Fenn of Savills. 
“This is the right asset for both local and global capital who will be attracted by the 100 per cent ownership, the immediate reversion potential and the opportunity to secure a large site with development potential in the core of the CBD” he said.
The property’s development upside is on an ‘as is’ basis as the current building is under the allowable FSR, with further upside of a ‘Super Site’ if a larger site can be amalgamated.
A potential supersite could be created by amalgamating adjoining assets. Depending on which sites are acquired a 300m height limit is possible with 80,000 sqm of NLA or a potential overall site area of 3,015 sqm. 
 
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