Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

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As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Joel Robinson

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

[smartcode_project:default project_id=342 project_image_fid=357510]

While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

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?

The popular New South Wales property developer&nbsp;Third.i has launched the last remaining homes in its luxurry Paragon of Pyrmont project.

The $113 million project, which officially wrapped up construction of its 31 residences in 2021, has just two homes remaining.

The final townhouses have three and four-bedrooms and are priced between $3.95 million and $4.5 million.

[smartcode_project:default project_id=5761 project_image_fid=198493]

The project is a rare offering for the suburb, largely dominated by apartment living.

According to the most recent Australian Bureau of Statistics data from 2016, over 92 per cent of available dwellings in Pyrmont consisted of apartments and units with just 6.5 per cent townhouse dwellings available.

The buyers so far in Paragon of Pyrmont have mostly been downsizers and owner-occupiers.

[smartcode_project:default project_id=5761 project_image_fid=198491]

Third.i&nbsp;Co-Founder and Director of Sales and Marketing Luke Berry says the remaining townhouses won&rsquo;t last long in a hungry market.

&ldquo;Paragon of Pyrmont is the epitome of spacious and luxury living in the epicentre of the city of Sydney,&quot; Berry said.

&quot;We are thrilled to see our final two residences hit the market and couldn&rsquo;t be prouder of the calibre we have created with the project in tailoring it to suit all buyer lifestyles.

[smartcode_project:default project_id=5761 project_image_fid=198490]

&ldquo;Buyers will feel the quality and consideration given to the project the minute they walk through the front door. We have combined city living and spacious living to create the ultimate residence in a suburb renowned for apartment and unit offerings.

&ldquo;Buyers are drawn to the uniqueness of townhomes available in Pyrmont and the fact these final residences are complete and ready to move into makes the listings even more desirable.&rdquo;

Each townhouse is kitted out with high-end Gaggenau appliances, a smart home system that can be access remotely, and an entertainment unit with a hydraulic television lift. There&#39;s also private lift access direct from the garage, which is met by a wine room with storage for around 250 bottles.

[smartcode_project:default project_id=5761 project_image_fid=198494]

Crowning each townhouse is a private rooftop terrace, complete with an outdoor kitchen and watering system for green, lush gardens, as well as a sundeck which benefits from city top views.

&ldquo;Paragon of Pyrmont just has it all in terms of spacious living, high-end amenities, access to local shops and transport, all while situated in the heart of Sydney with some of the most famous harbour views the city has to offer,&quot; Berry added.

&quot;This is a project Third.i will forever be proud of and joins our growing list of legacy projects for generations to come.&quot;

[smartcode_project_cta: project_id=5761]

Leading Australian property developer, Third.i has launched the last remaining homes in its luxury $113 million Paragon of Pyrmont project.



Two townhouses remain in Third.i’s Paragon of Pyrmont

Multi-billion-dollar developer Gurner has continued its expansion across the Australian residential market, securing its first South Australian site through a joint venture with Kennards Self Storage, the site&rsquo;s existing landholder.

When complete, the 1.7-hectare site at 237 Grote Street will comprise more than 750 residences with six-star amenity across four towers, a five-star hotel, over 15,000 sqm in retail and commercial space, an entertainment and recreation component and a public plaza, with an estimated end value of $1.25 billion.

With an estimated end value of $1.25 billion, the site will keep inline with the group&#39;s industry-leading Greener by Gurner initiative, making Gurner&#39;s first project in Adelaide carbon-neutral.&nbsp;&nbsp;

[smartcode_project:default project_id=2484 project_image_fid=40832]

It will also become the headquarters of Kennards in South Australia, complete with cutting-edge technological inclusions, retail stores, self-storage units, as well as enterprise and coworking spaces.

Part of the 1.7-hectare site is a 24,000 sqm six-level building originally constructed for Australia Post to sort and distribute mail near the CBD, but as letter volumes reduced, it was finally put on the market. &nbsp;

The strategic partnership between the two groups &ndash; the first of its kind in the self-storage space &ndash; will see Kennards repurpose the former Australia Post building into next-generation storage facility, which will be seamlessly integrated into the master plan.

Gurner CEO, Tim Gurner said the group will bring its vision to life for an iconic mixed-use, residential, self-storage and commercial office super-site across 11,000 sqm of prime development land.

&ldquo;This is an incredible site, and we could not be happier to be partnering with such iconic Australian success stories in Kennards and Sam, to bring a shared vision for the development to life &ndash; we&rsquo;ll be creating something very ambitious, something that hasn&rsquo;t been done before in this sector,&rdquo; he said.

[smartcode_project:default project_id=3530 project_image_fid=21377]

The announcement of the new project is a timely one for Adelaide, which was named the third-most liveable city in the world according to The Economist Intelligence Unit&rsquo;s Global Liveability Index for 2021, as CBD living, luxury property and amenity-rich projects continue to be favoured by owner occupiers and downsizers alike.

&ldquo;The main focus of this city-changing site will be a transformative public realm, that will become a key attraction for Adelaide CBD,&rdquo; Gurner added.

While there is no permit in place on the site, which has three street frontages on Grote Street, Gouger Street and Blenheim Street, Kennards Self Storage CEO, Sam Kennard commented on the current zoning and planning controls, allowing Gurner and Kennards Self Storage to proceed with a transformative mixed-use development.

[smartcode_project:default project_id=5117 project_image_fid=165555]

&ldquo;Originally we had identified an opportunity to re-purpose the existing building into self-storage and planned to subdivide and sell the surplus land, but COVID allowed us the time to take pause and reflect, and we soon realised the site had the potential to become a city-shaping project,&rdquo; Kennard said.

A design competition is currently underway to appoint a lead architect, and the development application is expected to be lodged in late 2022.

The announcement of the new project is a timely one for Adelaide, which was named the third-most liveable city in the world according to The Economist Intelligence Unit’s Global Liveability Index for 2021.



Gurner to develop Adelaide super site into $1.25 billion mixed-use precinct

If you're after a quintessentially Melbourne apartment – designed by none other than Melbourne's own Fender Katsalidis Architects –&nbsp; then you'll love WOBO in North Melbourne.&nbsp;

Take a look at our recent display suite tour:

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/pF2GLinINUk" title="YouTube video player" width="660"></iframe>

<h2>WOBO AT A GLANCE</h2>

Address:&nbsp;103-105 Boundary Road, North Melbourne 
Developer:&nbsp;Orb Property Partners 
Architect:&nbsp;Fender Katsalidis Architects

[smartcode_project_cta: project_id=112082]

WOBO will feature a striking facade, with residences delineated by towering recycled brick columns, which are softened by shimmering glazing and greenery.&nbsp;

As you can tell from the video, the display suite&nbsp;clearly reflects the marketing renders, down to the unique details such as the mesh on the overhead storage and timber bench seating. The space feels very calm and cohesive, and any feature piece,&nbsp;such as the handles and tapware, are timeless.

[smartcode_project:default project_id=112082 project_image_fid=193771]

The bathroom styling is exquisite. Details such as the gooseneck showerhead, the elegant tiling and the fluted shower glass evoke a sense of luxury. The integrated cistern and tapware and hidden LED lighting are some other modern features the design team have thought of.&nbsp;

At WOBO, you'll also have access to some exceptional lifestyle amenities that you'll get plenty of use out of. There's a private member's lounge with a rooftop terrace complete with a firepit and an outdoor dining space with some of the best views of the Melbourne city skyline.&nbsp;

[smartcode_project:default project_id=112082 project_image_fid=193773]

The development is also part of a multi-stage mixed-use precinct which will include a wellness centre, fresh food marketplace, a 220 sea cinema, a co-working space and a resident's business lounge.&nbsp;

Located at 103-105 Boundary Road in North Melbourne, you can walk to Macaulay Station and Royal Park – with plenty of shops and amenities nearby.&nbsp;

[smartcode_project:default project_id=112082 project_image_fid=194135]

WOBO will feature a boutique collection of industrial-inspired one, two and three-bedroom apartments, including penthouse offerings and family-designed apartments. To learn more about securing your new home, then enquire via Urban today and move in by 2024.&nbsp;

Olivia Round

Display Tour Video: WOBO by Orb Property Partners at 103-105 Boundary Road, North Melbourne

While housing value growth has slowed, rents continue to rise across Sydney..

Nationally, CoreLogic&rsquo;s Hedonic Rental Index increased 1.0% in May, taking the quarterly rate of growth to 3.0%, up 60 basis points on a year ago.

CoreLogic&rsquo;s Research Director Tim Lawless said unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house rents increased 8.6% compared to 9.1% across units) and the combined regional areas (where house rents rose 10.7%, behind the 11.0% gain in units).

[smartcode_project:default project_id=7020 project_image_fid=25155]

&ldquo;Early in the pandemic rental demand for medium to high density dwellings fell sharply due to a preference shift towards larger homes and a demand shock from closed international borders,&rdquo; Lawless said.

&ldquo;As rental affordability pressures mount, demand for higher density rentals has steadily grown due to the unit sectors&rsquo; relative affordability advantage. More recently, demand has been boosted by international arrivals returning to the rental market.&rdquo;

Amidst rising rents and a general easing in home value growth, yields are recording some upwards momentum, especially in Sydney.

Sydney gross rental yields are up from a record low of 2.42% in December last year to 2.59%, with Lawless saying that despite the upwards trajectory, yields remain remarkably low.

&ldquo;But a recovery back to average levels may be relatively quick if housing values continue to fall while rents maintain this growth trajectory,&rdquo; he added. &nbsp;

[smartcode_project:default project_id=9040 project_image_fid=193449]

Housing markets lost more steam in May as a combination of higher interest rates, rising inventory levels and lower sentiment dampened conditions.

Sydney&rsquo;s unit values hit -0.7 per cent, with the quarter seeing a -1.6 per cent decline.

Although housing values continued to rise across the remaining capitals, the growth was not enough to offset the depreciation in Sydney, which pushed the combined capitals index -0.3% lower over the month.

Sydney has been recording progressively larger monthly value declines since February, after peaking in January, with housing values down -1.5% - although still above pre-COVID levels at 22.7 per cent.

The trend in advertised stock levels helps to explain the weaker conditions across Sydney, with the city&rsquo;s advertised listings 5.1% higher than a year ago and 1.5% above the five-year average.

Nationally, advertised stock levels remain -10.3% below levels seen this time last year and 28.4% below the previous five year average. However, inventory in Sydney is now higher than 12 months ago and against the five-year average.

&ldquo;With stock levels now higher than normal across Australia&rsquo;s two largest cities, buyers are back in the driver&rsquo;s seat,&rdquo; Lawless said.

&ldquo;Higher listings add to tougher selling conditions more broadly. Vendors in Sydney have faced lower auction clearance rates since mid-April and those selling via private treaty are taking longer to sell with higher rates of discounting.&rdquo;

[smartcode_project:default project_id=7642 project_image_fid=197117]

While advertised stock levels provide some insight about the supply side of the market, home sale volumes provide guidance on housing demand.

As interest rates normalise over the next 12 to 18 months, the expectation is most of Australia&rsquo;s capital cities will move into a period of decline brought about by less demand.

Lawless said the trajectory of interest rates will be a key factor in future housing market outcomes. Forecasts for where the cash rate may land are varied. After the Reserve Bank&rsquo;s decision to lift the cash rate by 25 basis points at its May board meeting, the RBA noted: &ldquo;it&#39;s not unreasonable to expect that interest rates would get back to 2.5%.

&rdquo; Financial markets are still betting on a cash rate above 3% before mid-2023, while economic commentators show a broad range in their cash rate forecasts.&rdquo;

With the housing debt to household income ratio at record highs, household balance sheets are likely to be more sensitive to rising interest rates. High inflation could be another factor contributing to softer growth conditions in the housing sector.

A prolonged period of high inflation is likely to lead to lower rates of household saving and may potentially weaken prospective borrower&rsquo;s ability to meet serviceability assessments from lenders.

[smartcode_project:default project_id=7758 project_image_fid=150447]

Consumer sentiment also remains low, with Westpac and the Melbourne Institute&rsquo;s monthly reading falling another 5.6% in May to its lowest level since August 2020. Historically there has been a strong correlation between consumer attitudes and housing market activity.

These factors, together with stretched housing affordability and a more conservative approach from lenders, especially towards borrowers with high debt levels, are likely to contribute towards less housing demand over the medium term.

However, Lawless notes several mitigating factors as well.

&ldquo;Labour markets are tightening, sending the unemployment rate to generational lows and placing additional upwards pressure on wages growth,&rdquo; he said.

[smartcode_project:default project_id=112253 project_image_fid=193233]

&ldquo;As income growth outpaces housing values, the home deposit hurdle will gradually lessen, reducing one of the key barriers to entry for home buyers.&rdquo;

&ldquo;Strong labour market conditions, together with a growing economy will help to contain mortgage arrears and mitigate some risk of a surge in forced sales placing additional downwards pressure on housing values.&rdquo;

Another factor helping to contain distressed listings amidst rising interest rates is that most households are well ahead of their mortgage repayments. In the latest Financial Stability Review, the RBA noted the median repayment buffer for owner occupiers with a variable mortgage rate had grown from 10 months of scheduled repayments at the start of the pandemic to 21 months of scheduled repayments in February 2022.

Even with a two percentage point rise in mortgage rates, the median repayment buffer would reduce to 19 months, which is still substantial. With the median household well ahead on their mortgage repayments, the risk in falling behind on their debt obligations is reduced. Mortgage stress should also be minimised to some extent by mortgage serviceability assessments at the time of the loan origination.

All borrowers have been assessed under a mortgage rate scenario 2.5 percentage points higher than the origination rate, and since October last year, borrowers were being assessed with a buffer of 3 percentage points.

Under these serviceability scenarios, Lawless said it was reasonable to expect borrowers should be able to accommodate higher mortgage repayments costs, although such a rapid rate of inflation could create some challenges for borrowers with thinly stretched budgets.

&ldquo;With the RBA set to steadily raise the cash rate through the rest of the year and into 2023, we are likely to see falls in housing values become more widespread as mortgage rates trend higher,&rdquo; he said.

Sydney apartment market insights: What happened over May

The Brisbane unit market has seen a reduction while values continue to remain positive across the month of May, according to CoreLogic&#39;s Monthly Hedonic Home Value Index.

Values held relatively steady at 1.2 per cent, following on from the 1.4 per cent jump last month and the 1.6 in the month before that. Values are up 7.3 per cent over 2022 already, with the city well in line to outperform the growth seen in 2021.

[smartcode_project:default project_id=109830 project_image_fid=184165]

The median apartment value in Brisbane is now $498,521, a huge increase compared to the start of 2021, where it sat just over $390,000.

Stock levels remain below average across Brisbane, sitting at -38.2 per cent, well below the five-year average. While advertised stock levels provide some insight about the supply side of the market, home sale volumes provide guidance on housing demand.

CoreLogic&rsquo;s Research Director Tim Lawless said the estimate of homes sales nationally over the three months to May is -19.2% below the same period a year ago, but still 12.1% above the five year average.

[smartcode_project:default project_id=27815 project_image_fid=185118]

&nbsp;&ldquo;A combination of higher interest rates, lower rates of household saving and a potentially more cautious lending environment is likely to reduce housing demand further just as total advertised stock levels are likely to continue rising, further empowering buyers by creating increased competition amongst vendors,&rdquo; he added.

Unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house rents increased 8.6% compared to 9.1% across units) and the combined regional areas (where house rents rose 10.7%, behind the 11.0% gain in units).

Brisbane saw an 8.1 per cent annual change in unit rent, sitting just under Melbourne, Sydney and Adelaide.

[smartcode_project:default project_id=13276 project_image_fid=80720]

&ldquo;Early in the pandemic rental demand for medium to high density dwellings fell sharply due to a preference shift towards larger homes and a demand shock from closed international borders,&rdquo; Lawless said.

&ldquo;As rental affordability pressures mount, demand for higher density rentals has steadily grown due to the unit sectors&rsquo; relative affordability advantage. More recently, demand has been boosted by international arrivals returning to the rental market.&rdquo;

Brisbane apartment market insights: What happened over May

Melbourne’s unit value continued to lose steam in May, as a combination of higher interest rates, rising inventory levels and lower sentiment dampened conditions. CoreLogic’s Home Value Index (HVI) showed Melbourne’s unit value hit -0.3 per cent, with all dwellings hitting -0.7 per cent, recording the most significant month-on-month fall for the city.

Melbourne’s median unit value is $629,344, and while the rise continues across the capitals, the growth was not enough to offset the depreciation in Melbourne, which pushed the combined capitals index 0.3% lower over the month.

[smartcode_project:default project_id=1260 project_image_fid=177631]

Melbourne has fallen across four of the past six months in combined dwellings, although still above pre-covid levels. The city experienced a softer growth phase, recording a smaller peak-to-date decline of -0.8 per cent combined, with housing values now 9.8% higher compared to the pre-COVID levels and while unit values show a positive of 0.3 per cent.

CoreLogic’s Research Director Tim Lawless said despite the 0.5% rise in housing values across Australia’s combined regional areas, it was not enough to keep the national index in positive monthly territory, with the national HVI down -0.1% in May, the first monthly decline in the national index since September 2020.

“There’s been significant speculation around the impact of rising interest rates on the property market and last month’s increase to the cash rate is only one factor causing growth in housing prices to slow or reverse,” he said.

“It is important to remember housing market conditions have been weakening over the past year, at least at a macro level.”

Lawless noted the quarterly rate of growth in national dwelling values peaked in May 2021, shortly after a peak in consumer sentiment and a trend towards higher fixed mortgage rates.

[smartcode_project:default project_id=2806 project_image_fid=175415]

“Since then, housing has been getting more unaffordable, households have become increasingly sensitive to higher interest rates as debt levels increased, savings have reduced and lending conditions have tightened,” he said.

“Now we are also seeing high inflation and a higher cost of debt flowing through to less housing demand.”

The trend in advertised stock levels helps to explain the weaker conditions across Melbourne, with inventory across the city now higher than 12 months ago and against the five year average.

Melbourne’s advertised stock levels are up 1.3% on last year and 8.1% above average based on the previous five years.

“With stock levels now higher than normal across one of Australia’s largest cities, buyers are back in the driver’s seat,” Lawless said.

[smartcode_project:default project_id=253 project_image_fid=52822]

“Higher listings add to tougher selling conditions more broadly. Vendors in Melbourne have faced lower auction clearance rates since mid-April and those selling via private treaty are taking longer to sell with higher rates of discounting.”

“A combination of higher interest rates, lower rates of household saving and a potentially more cautious lending environment is likely to reduce housing demand further just as total advertised stock levels are likely to continue rising, further empowering buyers by creating increased competition amongst vendors.”

Unit rents are rising at a faster annual pace than house rents across the combined capital cities (where house rents increased 8.6% compared to 9.1% across units) and the combined regional areas (where house rents rose 10.7%, behind the 11.0% gain in units).

“Early in the pandemic rental demand for medium to high density dwellings fell sharply due to a preference shift towards larger homes and a demand shock from closed international borders,” Lawless said.

“As rental affordability pressures mount, demand for higher density rentals has steadily grown due to the unit sectors’ relative affordability advantage. More recently, demand has been boosted by international arrivals returning to the rental market.”

[smartcode_project:default project_id=3281 project_image_fid=46053]

Amidst rising rents and a general easing in home value growth, yields are recording some upwards momentum, especially in Melbourne.

Melbourne gross rental yields are up from a record low of 2.74 per cent in December last year to 2.86 per cent.

“Despite the upwards trajectory, yields remain remarkably low in both cities, but a recovery back to average levels may be relatively quick if housing values continue to fall while rents maintain this growth trajectory,” Mr Lawless

As interest rates normalise over the next 12 to 18 months, the expectation is most of Australia’s capital cities will move into a period of decline brought about by less demand

With the housing debt to household income ratio at record highs, household balance sheets are likely to be more sensitive to rising interest rates. High inflation could be another factor contributing to softer growth conditions in the housing sector

Consumer sentiment also remains low, with Westpac and the Melbourne Institute’s monthly reading falling another 5.6% in May to its lowest level since August 2020. Historically there has been a strong correlation between consumer attitudes and housing market activity. These factors, together with stretched housing affordability and a more conservative approach from lenders, especially towards borrowers with high debt levels, are likely to contribute towards less housing demand over the medium term.

Another factor helping to contain distressed listings amidst rising interest rates is that most households are well ahead of their mortgage repayments, Lawless added.

Melbourne apartment market insights: What happened over May

The Gold Coast remains the most sought after location in the country. Now more than ever, Architects and Developers are providing a wide variety of residences available. Urban have taken a closer look at 10 Gold Coast apartments&nbsp;we think you May love...

<h2>Emerson Kirra - 100 Musgrave Street, Coolangatta</h2>

Developer: Hirsch &amp; Faigen

[smartcode_project:default project_id=106646 project_image_fid=184787]

Hirsch &amp; Faigen have continued their legacy of pioneering excellence on the Southern Gold Coast with Emerson, a boutique edition of 27 residences at Kirra, designed by Queensland&rsquo;s premier architecture studio,&nbsp;<a aria-label="Rothelowman - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/rothelowman" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/rothelowman$rothelowman">Rothelowman</a>.

Just the second Gold Coast project for Hirsch and Faigen, Emerson Kirra is located parkside at 100 Musgrave Street, looking over the canopy of Norfolk Pines towards an unspoilt Kirra Beach.

[smartcode_project:default project_id=106646 project_image_fid=184785]

Emerson features sophisticated amenities that enrich a social, active and productive lifestyle, including a residents&rsquo; lounge, recreation deck, resort-style pool and sun lounge, while bedrooms feature floor-to-ceiling windows that offer unrivalled views across the ocean and distant Gold Coast skyline.

With a strong run of sales at the start of the year, only four half-floor apartments remain amongst the 27, as well as the $8 million full-floor penthouse, with the build expected to be complete by September 2023.

<h2>Lagoon Main Beach | Sunrise Tower - 11 Cronin Avenue, Main Beach</h2>

Developer: Drew Group

[smartcode_project:default project_id=108747 project_image_fid=190742]

Inspired by the sun-soaked charm of coastal living and fused with timeless elegance, Lagoon provides a collection of residences that mirror Main Beach&rsquo;s landscape and lifestyle.

The Lagoon residences present a range of two and three-bedroom apartments, along with the signature range of sky homes and duel level penthouse suites.&nbsp;

[smartcode_project:default project_id=108747 project_image_fid=190743]

Set in the heart of Main Beach at 11-23 Cronin Avenue, Lagoon comprises two architecturally stunning towers with 248 residences in total.

<a href="/developers/drew-group" target="_blank">Drew Group</a>&nbsp;appointed&nbsp;<a aria-label="Plus Architecture - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/plus-architecture" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/plus-architecture$plusarchitecture">Plus Architecture</a>&nbsp;to design the development with sustainability, environmental, infrastructure and urban renewal at the forefront of their brief resulting in a well crafted design that answers the needs of modern apartment living.

<h2>Mirador, Chevron Island - 8 Mawarra Street, Surfers Paradise</h2>

Developer: Citimark Properties

[smartcode_project:default project_id=107520 project_image_fid=183044]

Landing in the budding suburb of Chevron Island, Citimark Properties&rsquo;s Mirador presents a unique blend of built form and nature.

Designed by&nbsp;<a aria-label="Cottee Parker - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/cottee-parker-architects" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/cottee-parker-architects$cotteeparker">Cottee Parker</a>&nbsp;to suit the coastal identity of&nbsp;<a aria-label="Chevron Island - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developments/chevron-island-qld-4217" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developments/chevron-island-qld$chevronisland">Chevron Island</a>, Mirador offers a range of two, three and four-bedroom apartments, with Terrace apartments beginning on the podium level, and Sky Homes from the 17th&nbsp;floor and beyond.

After the group cut apartment numbers from 164 to just 71, the development progressed into a high-end offering, featuring large, spacious floorplans that capture the impressive surrounding vistas.

[smartcode_project:default project_id=107520 project_image_fid=183047]

The built form of Mirador incorporates a refined material palette including its white fa&ccedil;ade, bronze metal features and natural stone elements.

Extensive landscaping is also a key design feature, with cascading greenery softening the built form whilst providing a lush subtropical backdrop to the residential recreational spaces including the pool, gym, wellness and barbecue areas.

<h2>Nina, Chevron Island - 8-10 Parneno Street, Surfers Paradise</h2>

Developer:&nbsp;Aecore

[smartcode_project:default project_id=108640 project_image_fid=186291]

Nina, developed by Aecore, formerly Macquarie York, is the group&rsquo;s third in three years on the Gold Coast, having already launched the successful Allure, just down the road.

The $90 million Nina rises at 8-10 Parneno Street, comprising 78 apartments over 23 storeys, including a selection of six premium skyhomes and two multi-level penthouses that offer views east to the Pacific Ocean and west to the Gold Coast Hinterland.

[smartcode_project:default project_id=108640 project_image_fid=186300]

<a aria-label="Plus Architecture - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/plus-architecture" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/plus-architecture$plusarchitecture">Plus Architecture</a>&nbsp;were engaged to deliver the tower&rsquo;s distinctive curvature and detailing, as well as creating the six exclusive skyhomes, which will offer 233 sqm of living space, complete with&nbsp;three-bedrooms, a media room and four-bathrooms, as well as two expansive balconies.

Topping Nina are two double-storey penthouses, offering even more living space, as well as their own private terrace and plunge pool.

<h2>Pacific One - Corner of Frederick Street &amp; Garfield Terrace, Surfers Paradise</h2>

Developer: Central Equity

[smartcode_project:default project_id=108274 project_image_fid=190259]

<a href="/developers/central-equity" target="_blank" title="https://www.urban.com.au/developers/central-equity">Central Equity</a>&nbsp;feel like they&#39;ve nailed&nbsp;the&nbsp;brief of their&nbsp;buyers wants and needs&nbsp;at their first Gold Coast apartment tower, Pacific One.

When planning the development, which has evolved over the years, the prominent Melbourne developer&nbsp;expected the majority of buyers to be interested in two things; the extensive resident amenity, and the prime location near the beach.

[smartcode_project:default project_id=108274 project_image_fid=190260]

Designed by Marchese Partners, Pacific One delivers a range of one, two, three and four-bedroom apartments, with expansive Sky Homes and Penthouses topping the development.

Pacific One will also offer over 2,000 sqm amenity, some of which is dedicated solely to buyers of the Sky Home and Penthouse collections, which will be officially launched later this year.

<h2>Pearl Main Beach - 3550-3552 Main Beach Parade, Main Beach</h2>

Developer: Raptis

[smartcode_project:default project_id=106752 project_image_fid=182205]

Rising 30 floors on&nbsp;<a aria-label="Main Beach Parade - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developments/main-beach-qld-4217" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developments/main-beach-qld$mainbeachparade">Main Beach Parade</a>, Pearl is a collection of 80 two and three-bedroom residences at the northern end of the Gold Coast and the first foray into the Main Beach market for the developers, Raptis.

The apartment tower has been designed to take advantage of great outlooks to the beach, with an extensive shoreline on offer from apartments or the rooftop.

[smartcode_project:default project_id=106752 project_image_fid=182207]

A residents lounge, pool, gym and entertaining facilities crown the building, set against an extensive background of coastline.

Ideally located just a short stroll from the beach and the famed Tedder Avenue, residents are nearby to a range of amenity including The Spit and Marin Mirage, while also being connected to the broader Gold Coast region through well-serviced public transport links.

<h2>Tapestry - 39 Darrambal Street, Surfers Paradise</h2>

Developer: Siera Group

[smartcode_project:default project_id=108641 project_image_fid=192963]

Tapestry, the 22-level project on the east-side of&nbsp;<a aria-label="Chevron Island - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/developments/chevron-island-qld-4217" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/developments/chevron-island-qld$chevronisland">Chevron Island</a>&nbsp;at 39 Darrambal Street, was developed by the Brisbane-based Siera Group, with designs by local architecture firm, BDA, whose brief was to merge art with architecture.

The result is a striking building of 113 apartments, featuring a&nbsp;mixture of vertical blade walls and horizontal slab edges which respond to available views and natural light.

[smartcode_project:default project_id=108641 project_image_fid=192968]

Tapestry offers a mix of two and three-bedroom residences, with floorspace of up to 124 sqm, crowned with some of the most impressive amenity on the Coast with a resort-style&nbsp;swimming pool with day beds, a spa, and a pool deck, as well as a&nbsp;barbecue and alfresco area encased in lush landscaping and an edible garden.

Aligning with&nbsp;the Gold Coast City Council&#39;s efforts to make Surfers Paradise an arts and cultural hub, Siera also engaged local artist Tania Blanchard to create a piece of artwork that will hang in the lobby when completed.

<h2>The AU Surfers Paradise - 52A The Esplanade</h2>

Developer: ASF Group

[smartcode_project:default project_id=6762 project_image_fid=187228]

Delivered by ASF Group, The AU is a collection of just 12 exclusive full-floor ocean-view &lsquo;sky homes&rsquo; and two opulent three-level penthouses.

Sitting on the sought-after Esplanade in Surfers Paradise, the 19-storey tower features natural stone benchtops, and gold fixtures and finishes throughout.

[smartcode_project:default project_id=6762 project_image_fid=198236]

With a fa&ccedil;ade made almost entirely of golden glass, each apartment offers clear panoramic views of the Surfers Paradise beach, the ideal outlook on your special day-in.

The whole-floor residences are approximately 255 sqm in size, offering four or three-bedrooms&nbsp;+ MPR, with each featuring a private lift lobby, unobstructed views of the beach and ocean, and vast living and dining spaces.

<h2>Victoria &amp; Albert - 12-18 Albert Avenue, Broadbeach</h2>

Developer: Iris Capital

[smartcode_project:default project_id=107928 project_image_fid=178909]

Taking its name from Broadbeach streets, Victoria and Albert, the project comprises 398 apartments over two towers of 40 and 56 storeys, with a subtropical recreational podium, featuring two levels of premium offices and commercial facilities, and a fresh food and dining retail on the street level.

Design firm,&nbsp;<a aria-label="DBI Architects - opens in new tab" data-uw-rm-brl="false" data-uw-rm-ext-link="" data-uw-styling-context="true" href="/architects/dbi" target="_blank" uw-rm-external-link-id="https://www.urban.com.au/architects/dbi-design$dbiarchitects">DBI Architects</a>, has curated a design referencing the coastal environment, moving away from smaller unit types to embrace the growing demand for larger apartments.

[smartcode_project:default project_id=107928 project_image_fid=184933]

The lower floors offer a mix of one, two and three-bedroom layouts while the upper residences offer a mix of three-bedrooms, with both towers topped by sub‐penthouses and penthouses.

Residents will live among world‐class amenities, with both towers offering an elevated recreational podium with a 25-metre lap pool, a gym, a yoga deck and resident&rsquo;s lounge as well as kid&rsquo;s area, a Zen garden, an outdoor dining and barbecue space, all surrounded by lush green landscaping.

<h2>Yves, Mermaid Beach - 7-9 Mermaid Avenue, Mermaid Beach</h2>

Developer: Hirsch &amp; Faigen&nbsp;

[smartcode_project:default project_id=102451 project_image_fid=186075]

Located just metres behind the famed Hedges Avenue beachfront strip, Yves will soon rise on 7-9 Mermaid Avenue with construction kicking of this month.

Once complete, Yves will comprise 145 luxury residences over 26 levels, with a suite of high end residential amenities.

[smartcode_project:default project_id=102451 project_image_fid=186074]

Designed by Rothelowman, a mix of two, three and four-bedroom apartments are still available, with the tower experiencing a spat of sales on launch, hitting over 50 per cent in the first two months.

Yves will join Hirsch &amp; Faigen&rsquo;s growing portfolio of Gold Coast projects, following the $75 million Hemingway Palm Beach and $85 million Emerson Kirra which are currently under construction by Hutchies.

[smartcode_project_cta: project_id=102451]

The Gold Coast remains the most sought after location in the country. Now more than ever, Architects and Developers are providing a wide variety of residences available. Urban have taken a closer look at 10 Gold Coast apartments we think you May love...

Gold Coast apartments you MAY love

<h2>Expert Observer</h2>

With the Federal election all but wrapped up, what can prospective buyers expect from the change in government, with the Labor party&rsquo;s win bringing a raft of policy changes.

With a look to address the property market&rsquo;s biggest issues,&nbsp; the headlining &lsquo;Help to Buy&rsquo; scheme is likely to be popular with prospective home buyers, as it provides a more affordable entry point to the Australian housing market for those individuals on low-to-mid level incomes.

This will contribute to more equality in rates of home ownership across income cohorts, and could create more opportunities for key workers to live in more central areas.

[smartcode_project:default project_id=27815 project_image_fid=185118]

Being able to share up to 40% of the purchase price with the government, along with only a small deposit and opportunity to save on lenders mortgage insurance, helps to overcome several of the hurdles of home ownership.

Keeping in mind buyers will still have to fund their transactional costs, including stamp duties, legal costs and bank fees.

Labor&rsquo;s Help to Buy scheme will involve an equity contribution from the Federal Government of up to 40 per cent of the purchase price of a new home, and up to 30 per cent for an existing home for 10,000 Australian&rsquo;s each financial year, with homebuyers needing just a 2 per cent deposit.

With a cap of 10,000 places, the scheme could be quickly oversubscribed as prospective Australian home buyers take advantage of the leg up into the housing market, Lawless says, highlighting the First Home Loan Deposit scheme, which saw the first 10,000 places of the scheme allocated within six months.

[smartcode_project:default project_id=112253 project_image_fid=193233]

However places for new homes were not taken up as quickly, and building constraints and high construction costs could deter the uptake of a shared equity scheme for new homes.

Having said that, a higher interest rate environment, which may see lower prices, could make people more cautious of buying, reducing demand for the scheme in the short term.

Historically, residential transaction activity correlates with property price movements. Additionally, we have just been through a period of significantly elevated transaction activity, including from the first home buyer cohort, where many home purchasing decisions were likely brought forward to take advantage of the swathe of home buying grants and incentives over 2020 and 2021.

The added flexibility of buyers being able to &lsquo;top up&rsquo; their ownership stake once in a better financial position is another advantage of the scheme, although any change in the proportion of ownership would presumably be accompanied by a paydown in the share of equity that has accrued in the property back to the government.

[smartcode_project:default project_id=3260 project_image_fid=62316]

Help to Buy scheme

<ul>
	<li>Government helps with up to 40% of property price for new homes, 30% for established, households source the rest of finance with as little as 2% deposit. Government holds a part ownership stake in the property, which can be bought out over time.</li>
	<li>Spots: 10,000 ▪ Income cap: $90k for individuals / $120k for couples</li>
	<li>Property price cap: varies by region, from $400k up to $950k ▪ Restricted to owner occupier buyers who don&rsquo;t currently own a property</li>
	<li>Commences from July 2022 Although the scheme is expected to be popular among buyers, Lawless warned anyone considering the scheme should be aware of the risks associated with buying on such a small deposit.</li>
</ul>

[smartcode_project:default project_id=6515 project_image_fid=68832]

With the housing market probably heading into a downturn over the coming year or years, some buyers may find their home is worth less than the debt held against it.

It&rsquo;s important to know if the government will share in the downside risk if the property is sold while in a negative equity situation.

KeyStart Loans in WA is a good example of what can happen to a shared equity scheme in a declining market. According to the WA government, the portion of KeyStart loan accounts in default did rise between January 2017 and September 2019, from 0.92% to 1.21% of KeyStart accounts, in the midst of a long, large housing downturn across WA.

However, he also added the default rate is still relatively low and the scheme has helped thousands of people into home ownership, saying, the nature of the housing and economic downturn in WA has posed a lot more risk to serviceability than the relatively tight labour market conditions we see in Australia at the moment.

While the Help to Buy scheme will help thousands of Australian&rsquo;s enter the property market, it&rsquo;s only addressing the symptoms of housing affordability rather than aim to actually fix the underlying issues.

[smartcode_project:default project_id=7020 project_image_fid=25155]

Similar to the First Home Loan Deposit Scheme, the new Labor Government appears to be adjusting from housing affordability solutions to more pragmatic policies that target home ownership, avoiding any downward pressure on housing prices.

It is also worth considering any demand-side incentives can add upward pressure to home prices. For this reason, the limited number of places in this particular scheme, along with price caps and income caps, should help to contain some of the excess demand that could result in upward pressure on prices.

Help to Buy is restricted to Australian&rsquo;s with a taxable income of up to $90,000 for individuals and up to $120,000 for couples. Capped at 10,000, applicants are also required to be Australian citizens and first home buyers.

Regional First Home Buyer Support Scheme 

<ul>
	<li>Government provides a deposit guarantee for regional home buyers with a deposit of at least 5%</li>
	<li>Spots: 10,000</li>
	<li>Income cap: $125k for individuals / $200k for couples</li>
	<li>Property price cap: varies by region, from $350k up to $800k to be reviewed half yearly</li>
	<li>Restricted to owner occupier buyers who haven&rsquo;t previously owned a property and have been living in the region for at least 12 months</li>
	<li>Commences from January 2023</li>
</ul>

[smartcode_project:default project_id=94147 project_image_fid=197738]

The Regional First Home Buyer Support Scheme extends the existing First Home Loan Deposit Scheme by providing an additional 10,000 places specifically for regional first home purchases, providing a guarantee of up to 15 per cent for eligible first home buyers &ndash; so that locals with a&nbsp;five per cent deposit can avoid paying mortgage insurance.

Based on the property price caps, the scheme is likely to be most popular for those buyers targeting a unit purchase, or lower priced regional markets where detached housing values are more affordable.

CoreLogic&rsquo;s analysis of regional Australian suburbs shows roughly one third recorded a median house value equal to or under the Regional First Home Buyer Support Scheme price cap, and 71.1 per cent recorded a median unit value equal to or less than the price cap.

The Labor party notes &lsquo;the housing crisis is hitting regional Australia the hardest&rsquo;, which isn&rsquo;t necessarily true from a purchasing perspective.&quot;

Although regional housing values have risen faster than capital city housing values over the past few years, we are still seeing the dwelling value to household income ratio across regional Australia (a ratio of 7.9 in March 2022) lower than the capitals (a ratio of 8.5).

From a rental perspective, regional renters have been dedicating a larger proportion of their incomes towards rent than the capital cities since 2017.

[smartcode_project:default project_id=3459 project_image_fid=179458]

Establishment of a National Housing Supply and Affordability Council 

<ul>
	<li>The newly established council would sit within an expanded remit of NHFIC (National Housing Finance and Investment Corporation) renamed Housing Australia. ▪ The council would: ▪ take a leadership role for setting land supply targets (in consultation state and territory governments)</li>
	<li>Establish a housing data warehouse focussed on housing supply, demand and affordability</li>
	<li>Advise on town planning policies and land supply</li>
	<li>Report on government owned land releases, rental affordability, homelessness and the number of new social &amp; affordable homes built annually</li>
	<li>Advise on appropriate housing measures within all current and future City and Regional Deals.</li>
</ul>

[smartcode_project:default project_id=108641 project_image_fid=192963]

Many of the factors contributing to worsening housing affordability, such as insuffficent land release and restirive town planning policies will soon be part of an extended remit for the reframed NHFIC, which would be re-branded as Housing Australia, The expanded role will administer the various government programs, including the Help to Buy scheme, existing deposit guarantee schemes and the Housing Australia Future Fund, as well as take responsibility for the newly created National Housing and Affordability Council and National Housing and Homeless Plan.

Lawless said NHFIC&rsquo;s expanded remit should help to address the issues that make housing unaffordable, while also providing more transparency and reporting about the release of government owned land and helping to steer policies related to social and affordable housing supply.

It was interesting to note Labor intends to fund some of these initiatives by applying higher fees on foreign buyer purchases.

Higher fees and costs associated with foreign buying activity comes after a recent history of substantially higher federal and state-based taxes on this buyer segment. In fact, this may have contributed to foreign buying approvals hitting record lows according to FIRB data.

Further disincentives for foreign buying have the potential to keep foreign purchasing at low levels, which could have a negative outcome on rental supply. Arguably, higher levels of foreign buying activity could help to alleviate the rental crisis Australia is navigating by introducing more rental housing into Australia, given that foreign buyers generally have to buy new homes.

[smartcode_project:default project_id=111979 project_image_fid=194079]

The Housing Australia Future Fund 

<ul>
	<li>A $10 billion initiative with the objective of funding social and affordable housing properties.</li>
	<li>Over the first five years the fund has a goal of building:
	<ul>
		<li>20,000 social housing properties &nbsp;</li>
		<li>10,000 affordable homes for key workers</li>
		<li>$200 million in maintenance/improvements of housing in indigenous communities</li>
		<li>$100 million for transitional housing options supporting women and children in domestic violence situations</li>
		<li>$30 million for housing veterans who are experiencing or at risk of homelessness.</li>
	</ul>
	</li>
</ul>

[smartcode_project:default project_id=90532 project_image_fid=180653]

With the stock of social housing increasing only marginally since 2006, investment in social and affordable housing is long overdue.

While the additional funding and housing support for disadvantaged sectors of the community is welcome, the 30,000 additional dwelling over five years remains insufficient.

A recent report from Brendan Coates at the Grattan Institute noted even with 100,000 extra social housing properties targeted towards people in most need, more than two thirds of low-income Australians would remain in the private rental market where national rents are currently rising at around 9% per annum.

National Housing and Homelessness Plan 

<ul>
	<li>Aims to establish key short, medium and longer term reforms making it easier for Australians to buy a home, rent and provide shelter for homeless Australians.</li>
</ul>

There is little detail so far on this initiative and the plan is yet to be formulated. However, the Labor party has expressed a commitment to working with a broad range of stakeholders including the states and territories, local governments, industry bodies, superannuation funds and other relevant experts on how to address housing, finance and urban development.

Tim Lawless is CoreLogic&#39;s Research Director.

Labor’s Help to Buy scheme will involve an equity contribution from the Federal Government of up to 40 per cent of the purchase price of a new home, and up to 30 per cent for an existing home


tlawless

What a Labor Government means for housing affordability and the Australian property market

The Gold Coast apartment boom may have come off its 2021 highs, but solid sales reported in first three months of the year reveal continuing momentum as new apartment supply hits a record low.

Data compiled by property consultancy shows the Gold Coast recorded 377 new apartment sales in the March quarter, well off the 2021 high of 742 in the equivalent quarter last year.

The result also falls short of last year&rsquo;s low of 450 sales for the June quarter.

[smartcode_project:default project_id=102451 project_image_fid=186075]

Despite 11 new projects launching during the quarter the data continues to highlight the ongoing shortage of new apartments with just 411 new apartments remaining for sale at the end of March, which is the lowest number ever recorded by Urbis since it began monitoring the new apartment market in 2014.

Based on the current quarterly sales rate, the Gold Coast has just 3.3 months of supply remaining, although Urbis notes that this figure will change once a number of large-scale projects are released to the market over the coming months.

&ldquo;Sales have certainly eased off their 2021 highs in the latest quarter, but that&rsquo;s not unexpected considering the high levels achieved last year,&rdquo; said Urbis director Lynda Campbell.

&ldquo;The key statistic this quarter is the drop in the number of apartments for sale to a record low, which shows the supply side is still failing to keep up with demand. It&rsquo;s unclear whether the supply shortage had any bearing on overall sales for the March quarter as the urgency to buy that we saw in 2021 is showing signs of easing.

[smartcode_project:default project_id=108747 project_image_fid=190743]

&ldquo;However, there are several large projects coming to the market and we will be watching these sales closely as the market digests rising interest rates and any new initiatives at the federal level.

&ldquo;The obvious concerns surrounding construction costs and supply chain issues means that we do not expect to see as many projects make it out of the ground as in previous years while volatility and viability are managed.&rdquo;

Off the back of an impressive run of sales last year with a record 2,492 new apartments sold, the current quarterly sales rate could translate into another high-performing year the market.

Prior to 2021, the Gold Coast market absorbed an average of 1,100 new apartments a year with a high of 1,600 in 2015 and a low of 800 in 2017. If the March-quarter sales of 377 are repeated throughout the year, 2022 is on track to becoming the third biggest year for sales behind 2015.

&ldquo;The dominant buyer profile for Gold Coast apartments remains owner occupiers looking for larger apartments,&rdquo; said Campbell.

[smartcode_project:default project_id=106646 project_image_fid=184787]

&ldquo;Almost a third of the sales &ndash; about 31 per cent &ndash; were at price points above $1 million, which reflects the general increase in apartment values.&rdquo;

The Gold Coast Central precinct, which includes Southport, Surfers Paradise and Broadbeach, had the highest number of sales in the March quarter with 243 sold, followed by the North Shore, which includes Hope Island, where all 90 sales were made.

The Coastal Fringe precinct and the Southern Beaches precinct &ndash; which is from Mermaid Beach to Coolangatta &ndash; both saw a drop in sales, with the Southern Beaches precinct falling to 27, the lowest since late 2017.

Urbis puts the drop in sales across these areas down to limited supply, with just 67 apartments remaining in the Southern Beaches precinct at the end of March.

Data compiled by property consultancy shows the Gold Coast recorded 377 new apartment sales in the March quarter, well off the 2021 high of 742 in the equivalent quarter last year.



Gold Coast apartment market down but not out as supply hits new record low 

The ASX-listed Woolworths Group, has lodged plans for a mixed-use redevelopment across Rangers Road in Neutral Bay.

The supermarket giant's development arm, Fabcot, has submitted the&nbsp;plans to reinvigorate the already existing retail space, along with an activated pedestrian laneway and plaza, as well as residential apartments.

The project&nbsp;will provide a mix of one, two and three-bedroom apartments, starting from 65 sqm for the one-beds to the largest offering at 398 sqm, all adjoining to landscaped balconies.

<img alt="" data-entity-type="" data-entity-uuid="" height="1116" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_11.31.25_am.png" width="1578" /> 
Artist Impression, Central Plaza View. Credit:&nbsp;Ivolve Studios

Designed by renowned Sydney-based architects, Koichi Takada, the $6 million project will be visually connected to Military Road, with open corners to Rangers Road and a large open entry plaza.

The building form has been broken into distinct forms to break down the mass and create articulation between the podium, and upper floors.

The public plaza design plays an integral role in the precinct, with a highly active retail and dining, office and residential space existing throughout new green spaces, designed by Arcadia, as well as community facilities.

“The principal design approach was to create an intrinsic relationship between architecture and nature while promoting a variety of retail activation, integrated outdoor seating, and good pedestrian connectivity from Rangers Road to Yeo Street,” Koichi Takada Architects noted in their design application.

<img alt="" data-entity-type="" data-entity-uuid="" height="1120" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_11.31.43_am.png" width="1580" /> 
Artist Impression, Yeo Street Facade. Credit: Ivolve Studios

“The public plaza combines substantial planters to promote canopy trees growth as well as water fountains to promote children’s play.”

The architectural design incorporates façade planters to the setback and terrace floors, with a residential communal open space allocated on the rooftop with a plunge pool, seating, and barbecue facilities.

The feature façade concept integrates modular planters on slabs to provide both the commercial and residential residents a connection to landscape.

The perimeter retail to the plaza expresses a double height volume to enhance the layers of activation both at the ground floor and level one, with the site link visually connecting the plaza to Yeo Street, activating the side streets, while the anchor tenant, Woolworths, will ensure constant foot traffic across the ground floor.

The outdoor dining space will be covered and protected by the feature awning, allowing the spill out of retail and cafe tenants to engage with the public domain, while providing a protected path of travel for pedestrians.

The feature awning is supported with organic columns reminiscent of the branches of a tree, with greenery spilling over the awning effectively continuing the landscape character from the public domain up onto the building façade.

<img alt="" data-entity-type="" data-entity-uuid="" height="1118" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-05-27_at_11.32.09_am.png" width="1582" /> 
Artist Impression, View of Plaza. Credit: Ivolve Studios

“Inspired by the naturally occurring landscape character of Neutral Bay, the design integrates public activation with a natural and refined aesthetic, providing an activated, unique and integrated public domain.”

“The gentle curves of the sandstone gully’s and Angophora Trees that have existed in Neutral Bay’s natural context, inspired an architectural language that is organic, curved, and sophisticated. The natural facade ties into Neutral Bay’s past and aims to invigorate Rangers Road with community facilities and public domain activation.”

The high-quality retail with a focus on food and beverage offerings, activating the precinct with community amenity during both the night and day. &nbsp;

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Kew Tallawong: A growing community taking shape in Sydney's north-west

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Kew Tallawong: A growing community taking shape in Sydney's north-west

Guides

Editor's Picks

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Guides

Developments

New apartments

New townhouses

News