<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" data-turn-id-container="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" dir="auto">
<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
</section>

<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

&nbsp;

&nbsp;

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

Joel Robinson

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.

In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.

Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.

Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" />

An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.

It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.

The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" />

The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.

Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.

“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.

“We propose breaking the tower form into two defined volumes rather than a singular form.”

The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" />

The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.

Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.

The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" />

Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.

“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.

“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”

Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.

First look: Stockland plans 52-storey, 538-apartment St Leonards tower

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

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?

<html><body>
<a target="_blank" title="Alexandria top suburb for investors" href="https://www.propertyobserver.com.au/news/alexandria-ranks-as-top-investment-suburb-survey/2011072550899"><img src="/images/stories/7percent.jpg"></a>
The annual growth of house prices in <a target="_blank" title="Alexandira" href="/news">Alexandria</a>, NSW, according to RP Data. Alexandria was <a target="_blank" title="Alexandria number one suburb for investors" href="https://www.propertyobserver.com.au/news/alexandria-ranks-as-top-investment-suburb-survey/2011072550899">named the number-one suburb for investors</a> by Your Investment Property Magazine.
 
<hr>
<a target="_blank" title="Adelaide's smallest block" href="https://www.propertyobserver.com.au/news/adelaide-s-smallest-block-sells-for-%24205000/2011072550907"><img src="/images/stories/90sqm.jpg"></a>
 
The size of <a target="_blank" title="Adelaide's smallest block sells" href="https://www.propertyobserver.com.au/news/adelaide-s-smallest-block-sells-for-%24205000/2011072550907">Adelaide's smallest inner-city block</a>, which sold last week for $205,000.
 
<hr>
<a target="_blank" title="Woollomooloo wharf sale" href="https://www.propertyobserver.com.au/news/woolloomooloo-wharf-restaurant-offerings-comes-with-%2425-million-hopes/2011072750928"><img src="/images/stories/25m.jpg"></a>
 
The prices hopes for the premises of<a target="_blank" title="Woolloomooloo wharf restaurants for sale" href="https://www.propertyobserver.com.au/news/woolloomooloo-wharf-restaurant-offerings-comes-with-%2425-million-hopes/2011072750928"> three high-prolife restaurants on the iconic Finger Wharf in Woolloomooloo</a> being sold on behalf of property investment syndicate Quantum Group. The four lots are the premises of Manta, Kingsleys Steakhouse and Otto Ristorante, and expressions of interest close August 25.
 
<hr>
 <a target="_blank" title="Sale of $14 million apartments indicate tide has turned in Noosa" href="https://www.propertyobserver.com.au/news/sale-of-%2414-million-apartments-as-tide-turns-for-better-in-noosa/2011072650927"><img src="/images/stories/14m.jpg"></a>
 
The sale price for<a target="_blank" title="Sale of $14 million in Noosa" href="https://www.propertyobserver.com.au/news/sale-of-%2414-million-apartments-as-tide-turns-for-better-in-noosa/2011072650927"> two beachfront three-bedroom Noosa apartments out of a triplex that sold recently</a>. The sale could mark a resurgence in the Queensland region's luxury market, which has been struggling of late.
 
<hr>
 
<a target="_blank" title="Charter Hall battle" href="https://www.propertyobserver.com.au/news/proxy-votes-in-charter-hall-office-reit-battle-line-up-to-reject-takeover-proposal/2011072750930"><img src="/images/stories/68.jpg"></a>
The percentage of unit holders who <a target="_blank" title="Charter Hall battle" href="https://www.propertyobserver.com.au/news/proxy-votes-in-charter-hall-office-reit-battle-line-up-to-reject-takeover-proposal/2011072750930">voted against a proposal by Orange Capital to dump Charter Hall</a> as the responsible entity for the Charter Hall Office A-REIT. Mark Wist, senior asset consultant at Atchison Consultants, says the vote could be seen as a “barometer for sentiment in the A-REIT space” indicating little appetite for change.
 
<hr>
 
<a target="_self" title="Melbourne office sales" href="https://www.propertyobserver.com.au/news/melbourne-office-sales-to-reach-%242-billion-in-2011-colliers/2011072750932"><img src="/images/stories/2bill.jpg"></a>
The <a target="_blank" title="Melbourne office sales to reach $2 billion" href="https://www.propertyobserver.com.au/news/melbourne-office-sales-to-reach-%242-billion-in-2011-colliers/2011072750932">sales volume expected for Melbourne offices in 2011</a>, according to Colliers. “The reasons for Melbourne being the hottest office market in Australia will not change overnight. The fundamentals of our economy are very healthy and the medium-term forecast for office rental growth in the CBD is very strong,” says Nick Rathgeber, director of institutional investment services at Colliers.
 
<hr>
<a target="_blank" title="Higher than expected inflation" href="https://www.propertyobserver.com.au/news/higher-than-expected-inflation-figures-could-trigger-rates-rise/2011072750934"><img src="/images/stories/0point9.jpg"></a>
 
The <a target="_blank" title="Inflation rate higher than expected" href="https://www.propertyobserver.com.au/news/higher-than-expected-inflation-figures-could-trigger-rates-rise/2011072750934">inflation rate for the June quarter</a>, according to the ABS. This is higher than what economists had predicted, and <a target="_blank" title="Australia has an inflation problem" href="https://www.propertyobserver.com.au/trends/economy/australia-has-an-inflation-problem-and-higher-interest-rates-are-the-only-way-to-fix-it/2011072850943">most</a> now think the <a target="_blank" title="Rates likely to go up next week: RBA" href="https://www.propertyobserver.com.au/trends/economy/rates-likely-to-go-up-next-week-anz/2011072850954">RBA will raise rates</a> in the near future. 
</body></html>

cknowlton-QnEa6ntUYP

The 7 must-know numbers of the week

<html><body>
<a target="_blank" title="Cemetery plot for $200k raises grave fears for Melbourne's affordability" href="https://www.propertyobserver.com.au/news/cemetery-offering-for-%24200000-grave-concerns-over-melbourne-affordability/2011080150979"><img src="/images/stories/155k.jpg"></a>
The price for an 1866 <a target="_blank" title="Cemetery plot for sale" href="https://www.propertyobserver.com.au/news/cemetery-offering-for-%24200000-grave-concerns-over-melbourne-affordability/2011080150979">burial vault in Melbourne General Cemetery</a>. The price was initially gazetted at $200,000 by the Department of Health but has since been reviewed. The plot raises grave concerns about Melbourne affordability.
 
<hr>
<a target="_blank" title="Fears for Freo retail" href="https://www.propertyobserver.com.au/news/fears-for-freo-retail-as-myer-considers-skipping-town/2011080250992"><img src="/images/stories/40years.jpg"></a>  
The amount of time Myer has been in East Freemantle, but now that its lease is almost up <a target="_blank" title="Fears for Freo retail" href="https://www.propertyobserver.com.au/news/fears-for-freo-retail-as-myer-considers-skipping-town/2011080250992">the retail giant is considering skipping town</a>. Councillors are making a last-ditch appeal to ask Myer, which occupies only two floors of its four-storey building, to reconsider and remain in the town to help its ailing retail market.
 
<hr>
<img src="/images/stories/25k.jpg"> The number of <a target="_blank" title="The Block opens draw thousands" href="https://www.propertyobserver.com.au/news/thousands-flock-to-the-block-opens/2011080150976">people who went to the open for inspection</a><a target="_blank" title="The Block opens draw thousands" href="https://www.propertyobserver.com.au/news/thousands-flock-to-the-block-opens/2011080150976">s</a> for the four cottages featured on the Channel 9 reality show The Block the first weekend they were open.
 
<hr>
<img src="/images/stories/10000new.jpg"> 
<img src="/images/stories/plus.jpg">
<img src="/images/stories/7000.jpg">
The amount of money first-home buyers who purchase new homes in Queensland can expect to receive in <a target="_blank" title="Government grants" href="https://www.propertyobserver.com.au/news/government-property-grants-by-the-numbers-state-by-state/2011080150974">government grants</a>. 
 
<hr>
<a target="_blank" title="Cold Chisel Jimmy Barnes sells" href="https://www.propertyobserver.com.au/news/jimmy-barnes-lists-highlands-weekender-on-eve-of-cold-chisel-tour/2011080251008"><img src="/images/stories/2point5m.jpg"></a>
 
The price Cold Chisel frontman Jimmy Barnes <a target="_blank" title="Jimmy Barnes Cold Chisel to sell" href="https://www.propertyobserver.com.au/news/jimmy-barnes-lists-highlands-weekender-on-eve-of-cold-chisel-tour/2011080251008">hopes to achieve for his Berrima weekender</a>, which he has put on the market ahead of Cold Chisel's upcoming national tour.
 
<hr>
<a target="_blank" title="Leonardo DiCaprio" href="https://www.propertyobserver.com.au/new-south-wales/leonardo-dicaprio-struggles-to-find-sydney-s-west-egg-for-gatsby-filming/2011080451026"><img src="/images/stories/30k.jpg"></a> The amount of money actor <a target="_blank" title="Leonardo DiCaprio" href="https://www.propertyobserver.com.au/new-south-wales/leonardo-dicaprio-struggles-to-find-sydney-s-west-egg-for-gatsby-filming/2011080451026">Leonardo DiCaprio is looking to spend per week </a>on a rental property in Sydney while he films the Baz Luhrman-directed Great Gatsby. DiCaprio will play the title role and is reportedly looking for a harbourside property with a sports court.
 
<hr>
<a target="_blank" title="Discount mortgages gain ground" href="https://www.propertyobserver.com.au/news/discount-mortgages-gain-ground-as-one-big-switch-passes-10000/2011080351011"><img src="/images/stories/10000new.jpg"></a>
 
The number of  <a target="_blank" title="Discount mortgages gain ground" href="https://www.propertyobserver.com.au/news/discount-mortgages-gain-ground-as-one-big-switch-passes-10000/2011080351011">people who had signed up to the One Big Switch campaign</a> to look for cheaper mortgages in the first two days. The campaign initially had hopes of signing up 1,000 borrowers.
</body></html>

<html><body>
<a target="_blank" title="East meets West with $8 million sale" href="https://www.propertyobserver.com.au/news/east-meets-west-with-sale-of-%248-million-northern-beaches-heaven/2011081051101"><img src="/images/stories/8m.jpg"></a>
The amount Wombat fashion chain founder <a target="_blank" title="East meets West in $8 million sale" href="https://www.propertyobserver.com.au/news/east-meets-west-with-sale-of-%248-million-northern-beaches-heaven/2011081051101">Clair Jennifer secured for her 2.2-hectare resort-style property Heaven</a>, in Ingleside, NSW.
 
<hr>
 
<a target="_blank" title="Carbon tax" href="https://www.propertyobserver.com.au/news/more-than-half-of-potential-home-buyers-put-off-by-spectre-of-carbon-tax/2011080851067"><img src="/images/stories/57per.jpg"></a>
The percentage of potential home buyers who say the proposed carbon tax is<a target="_blank" title="Carbon tax" href="https://www.propertyobserver.com.au/news/more-than-half-of-potential-home-buyers-put-off-by-spectre-of-carbon-tax/2011080851067"> dicouraging them from purchasing</a> property in the next year, according to an online poll by mortgage broker Loan Market.
 
<hr>
<a target="_blank" title="Mining magnate buys Perth's second-most expensive house" href="https://www.propertyobserver.com.au/news/mining-magnate-buys-perth-s-second-most-expensive-house/2011080751060"><img src="/images/stories/39m.jpg"></a>
 
The amount mining magnate Steve Wyatt <a target="_blank" title="Perth second most expensive house sold" href="https://www.propertyobserver.com.au/news/mining-magnate-buys-perth-s-second-most-expensive-house/2011080751060">spent on the former Dalkeith mansion built for 1980s entrepreneur Alan Bond</a>. It is Perth's second-most expensive sale, with the $57.5 million sale of Angela Bennett's riverfront mansion to Wyatt's business associate Chris Ellison the most expensive.
 
<hr>
<a target="_blank" title="Rents increase in Sydney" href="https://www.propertyobserver.com.au/news/inner-sydney-rents-up-%2440-a-week-over-the-past-year/2011080951084"><img src="/images/stories/8.jpg"></a>
 
The annual<a target="_blank" title="Sydney rent increase" href="https://www.propertyobserver.com.au/news/inner-sydney-rents-up-%2440-a-week-over-the-past-year/2011080951084"> average increase in rents in Sydney's inner ring</a>, according to RP Data. Rents went up by 7.3% across Sydney during the year.
 
<hr>
<a target="_self" title="Commercial sales increase" href="https://www.propertyobserver.com.au/news/melbourne-leads-commercial-boom-as-foreign-investors-step-in/2011081051102"><img src="/images/stories/127per.jpg"></a>
 
The percentage<a target="_blank" title="Commercial sales" href="https://www.propertyobserver.com.au/news/melbourne-leads-commercial-boom-as-foreign-investors-step-in/2011081051102"> increase in commercial sales during the June quarter</a>, according to Real Capital Analytics. Offshore buyers provided 42% of the capital, and more than half of these funds flowed to Melbourne.
 
<hr>
<a target="_self" title="Hotspot: Broome" href="https://www.propertyobserver.com.au/news/hotspots-broome-market-turning-around/2011080951098"><img src="/images/stories/6per.jpg"></a>
 
The increase in house prices in the <a target="_blank" title="Hotspot: Broome" href="https://www.propertyobserver.com.au/news/hotspots-broome-market-turning-around/2011080951098">WA suburb of Broome</a> during the June quarter, defying the WA trend of falling house prices. In the March quarter Broome prices were down 9.1%, so the June figures could indicate that the market is turning around. 
 
<hr>
<a target="_blank" title="Brighton bathing box" href="https://www.propertyobserver.com.au/news/pre-sprint-test-for-brightons-bathing-box-market/2011081151120"><img src="/images/stories/190k.jpg"></a>
 
The price hopes for a <a target="_blank" title="Brighton bathing box" href="https://www.propertyobserver.com.au/news/pre-sprint-test-for-brightons-bathing-box-market/2011081151120">Brighton bathing box that is set for September 3 auction</a>. A new box fetched a record $260,000 earlier this year. 
</body></html>

<html><body>
<a href="https://www.propertyobserver.com.au/news/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266" title="Investors mop up The Block" target="_self"><img src="/images/stories/922.jpg" style="border-style: initial; border-color: initial;"></a>
The price a Melbourne investor paid for <a href="https://www.propertyobserver.com.au/news/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266" title="Investors mop up The Block" target="_blank">Rod and Tania's cottage from the Channel 9 reality renovation show The Block</a>.  Another Melbourne investor bought the final property, Josh and Jenna's double-fronted offering, for $1 million. Neither buyer had attended Saturday night's Block auction, where both properties failed to sell.
 
<hr>
 
<a target="_blank" title="Garry Lyon fails to sell" href="https://www.propertyobserver.com.au/news/garry-lyon-fails-to-sell-hawthorn-home-at-weekend-auction/2011082151234"><img src="/images/stories/3point5.jpg"></a>
The vendor's bid when AFL star <a target="_blank" title="Garry Lyon fails to sell" href="https://www.propertyobserver.com.au/news/garry-lyon-fails-to-sell-hawthorn-home-at-weekend-auction/2011082151234">Garry Lyon's house was passed in</a> at auction last weekend. Lyon paid $2.74 million for the Hawthorn home in 2005.
 
<hr>
 
<a target="_blank" title="Former owner jumps at Friendly Inn" href="https://www.propertyobserver.com.au/news/former-owner-jumps-at-opportunity-to-buy-back-friendly-inn/2011082251247"><img src="/images/stories/201.jpg"></a>
The price former owner <a target="_blank" title="Peter Thompson buys Friendly Inn" href="https://www.propertyobserver.com.au/news/former-owner-jumps-at-opportunity-to-buy-back-friendly-inn/2011082251247">Peter Thompson paid for the Friendly Inn</a>, in Kangaaroo Valley. The pub had been in receivership since 2011, and last sold for $3.67 million in 2005.
 
<hr>
<a target="_blank" title="Wategos Bay listing" href="https://www.propertyobserver.com.au/news/wategos-beach-listing-to-test-byron-bay-price-rebound/2011082351265"><img src="/images/stories/7point5.jpg"></a>
 
The price hopes of a <a target="_blank" title="Wategos Beach" href="https://www.propertyobserver.com.au/news/wategos-beach-listing-to-test-byron-bay-price-rebound/2011082351265">two-bedroom cottage in Wategos Beach</a>. The house itself is not pictured in its marketing campaign, which is based on the location alone. The sale could test the recent price rebound in Byron Bay.
 
<hr>
<a target="_blank" title="Former spruiker's directorship ban upheld" href="https://www.propertyobserver.com.au/news/former-property-spruiker-s-five-year-directorship-ban-upheld/2011082351264"><img src="/images/stories/5.jpg"></a>
The amout of time former <a target="_blank" title="Former property spruiker banned" href="https://www.propertyobserver.com.au/news/former-property-spruiker-s-five-year-directorship-ban-upheld/2011082351264">property spruiker Dudley Quinlivan is forbidden from becoming a company director</a>. Quinlivan had appealed the ban to the High Court, which found against him. Quinlivan was long regarded as at the vanguard of selling overpriced southeast Queensland properties to mum and dad investors.
<hr>
<a target="_self" title="Auction volumes down" href="/news"><img src="/images/stories/24.jpg"></a>
 
The <a target="_blank" title="Auction volumes down" href="/news">percentage of homes sold in June that were taken to auction</a>, according to RP Data. In June 2010 that figure about 30% of homes were taken to auction.
 
<hr>
<a target="_blank" title="New home building in the doldrums" href="https://www.propertyobserver.com.au/news/new-home-building-slumps-in-june-quarter/2011082451276"><img src="/images/stories/47.jpg"></a>
 
The <a target="_blank" title="New home building in doldrums" href="https://www.propertyobserver.com.au/news/new-home-building-slumps-in-june-quarter/2011082451276">fall in the value of residential construction undertaken during the June quarter</a>, according to the Australian Bureau of Statistics.
</body></html>

<html><body>
<a target="_blank" title="UK's most expensive property" href="https://www.propertyobserver.com.au/news/uk-s-most-expensive-home-rumoured-to-have-sold-for-%C2%A3140-million/2011081451149"><img src="/images/stories/140m.jpg"></a>
The rumoured price of the <a target="_blank" title="UK's most expensive property" href="https://www.propertyobserver.com.au/news/uk-s-most-expensive-home-rumoured-to-have-sold-for-%C2%A3140-million/2011081451149">UK's most expensive property, which sold to a Russian oligarch</a>. The Oxfordshire property at Remenham on the Thames River at Henley was once the home of King George II's son Frederick, Prince of Wales.
 
<hr>
<a target="_blank" title="Paradise Waters auction" href="https://www.propertyobserver.com.au/news/paradise-waters-auction-could-put-wind-in-luxury-market-sales/2011081551156"><img src="/images/stories/6725.jpg"></a>
 
The price of a property in <a target="_blank" title="Paradise Waters sale" href="https://www.propertyobserver.com.au/news/paradise-waters-auction-could-put-wind-in-luxury-market-sales/2011081551156">Paradise Waters, on the Gold Coast, that sold </a>earlier this week. It might be a sign that the luxury market on the Gold Coast is turning around, after years of stagnant growth.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/former-equititrust-boss-mark-mcivor-lists-popov-designed-gold-coast-home/2011081651176" title="Mark McIvor Equititrust" target="_blank"><img src="/images/stories/50m.jpg"></a>
The Nerang River frontage of the <a href="https://www.propertyobserver.com.au/news/former-equititrust-boss-mark-mcivor-lists-popov-designed-gold-coast-home/2011081651176" title="Mark McIvor lists" target="_blank">Alex Popov-designed house recently listed by former Equititrust boss Mark McIvor</a>. His Gold Coast home on Cronin island sits on a 1,736-square-metre block. McIvor resigned from besieged Equititrust, which he founded, in June 2011.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/prime-minister-julia-gillard-seeks-new-sydney-office-digs/2011081751191" title="Julia Gillad" target="_blank"><img src="/images/stories/96.jpg"></a>
 
The number of car spaces in the <a href="https://www.propertyobserver.com.au/news/prime-minister-julia-gillard-seeks-new-sydney-office-digs/2011081751191" title="Julia Gillard office" target="_blank">Bligh Street, Sydney premises the federal government is considering moving its offices into</a>. The six-star green building's bike racks and showers, combined with the paucity of car spaces, are expected to encourage workers to ride or take public transport to work.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/couples-save-for-just-over-four-years-for-first-home-deposit/2011081751192" title="First home buyers" target="_blank"><img src="/images/stories/4point1.jpg"></a>
 
The amout of time, on average, it takes a <a href="https://www.propertyobserver.com.au/news/couples-save-for-just-over-four-years-for-first-home-deposit/2011081751192" title="First home buyers" target="_blank">couple to save for a deposit for their first home</a>.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195" title="Nigerian property scam" target="_blank"><img src="/images/stories/410k.jpg"></a>
 
The amount of money <a href="https://www.propertyobserver.com.au/news/absentee-investor-alert-nigerian-scammers-sell-%24410000-house-they-didnt-own/2011081751195" title="Nigerian house scam" target="_blank">Nigerian scammers whisked away to a Chinese bank account</a> after selling a house they did not own to an unsuspecting buyer.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/vera-wang-buys-in-beverly-hills/2011081851214" title="Vera Wang" target="_blank"><img src="/images/stories/92.jpg"></a>
 
The amount of money (in USD) that fashion designer <a href="https://www.propertyobserver.com.au/news/vera-wang-buys-in-beverly-hills/2011081851214" title="Vera Wang" target="_self">Vera Wang spent on a glass-walled house in Beverly Hills</a>.
</body></html>

<html><body>
<a href="https://www.propertyobserver.com.au/news/sa-vineyards-up-for-sale-as-downturn-puts-the-squeeze-on-wineries/2011071850831" title="SA vineyards up for sale" target="_blank"><img src="/images/stories/953.jpg"></a>
The combined size of <a href="https://www.propertyobserver.com.au/news/sa-vineyards-up-for-sale-as-downturn-puts-the-squeeze-on-wineries/2011071850831" title="SA wineries up for sale" target="_blank">six South Australian vineyards being offloaded by Cheviot Kirribilly Vineyard Property Group</a>. The organisation says deteriorating market conditions has forced it to sell the assets. “In crude terms grape growers must now ‘find a route to market’ for their products,” Chevriot says in its ASX note.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/bank-of-melbourne-entices-customers-with-1-mortgage-rate-discount/2011071850842" title="Bank of Melbourne offers 1% discount" target="_blank"><img src="/images/stories/1percent.jpg"></a>
 
The <a href="https://www.propertyobserver.com.au/news/bank-of-melbourne-entices-customers-with-1-mortgage-rate-discount/2011071850842" title="Bank of Melbourne offers 1% discount" target="_blank">discount on the standard variable mortgage rate being offered by new Westpac offshoot Bank of Melbourne</a> for new customers who sign up for multiple products. “We will reward customers for the depth, breadth and quality of their banking relationship with Bank of Melbourne,” says chief executive Scott Tanner.
 
<hr>
<img src="/images/stories/77.jpg"> 
The <a href="https://www.propertyobserver.com.au/news/brisbane-hotel-sector-recovering-as-occupancy-hits-77/2011071850836" title="Brisbane hotel sector recovering" target="_blank">occupancy rate for Brisbane hotels</a>, which are undergoing a recovery driven largely by coporate travel. Occupancy rates in January, just after the floods, was 60% in the Queensland capital, and takings per room per night have increased from $163 to more than $200. Hotels and resorts on the Gold Coast, however, are not enjoying the same recovery, as the tourism industry is still waning.
 
<hr>
 
<img src="/images/stories/8226.jpg">
The number of new home loan commitments by first-home buyers for the month of May 2011. RP Data predicts that the slowdown in first-home buyers entering the market will lead to robust rental growth and falling rental vacancies. 
 
<hr>
<a href="https://www.propertyobserver.com.au/news/august-20-auction-set-for-first-of-the-block-s-cottages/2011071950856" title="August 20 auction set for The Block cottages" target="_blank"><img src="/images/stories/800k.jpg"></a>
 
The price hopes for the <a href="https://www.propertyobserver.com.au/news/august-20-auction-set-for-first-of-the-block-s-cottages/2011071950856" title="August 20 auction set for The Block cottages" target="_blank">first of the four cottages featured in the Channel 9 hit The Block to be marketed on the internet</a>. It is estimated that the house cost about $1 million to buy and renovate, but Channel 9 is happy to make its money from big-name advertisers, rather than flipping property for profit. All four cottages will be auctioned on August 20. 
 
<hr>
<a href="https://www.propertyobserver.com.au/news/sydney-prime-offices-to-yield-20-returns-for-investors-cbre/2011072150869" title="Sydney prime office tipped to net 20% yields" target="_blank"><img src="/images/stories/20percent.jpg"></a>
 
The total returns on <a href="https://www.propertyobserver.com.au/news/sydney-prime-offices-to-yield-20-returns-for-investors-cbre/2011072150869" title="Sydney prime office space tipped to net investors 20% yields" target="_blank">Sydney prime office space by 2012</a>, as forecast by CB Richard Ellis. The company says as fewer incentives are offered to tenants in this market and the capitalisation rate compresses, building valuations will go up, and with them, rental yields.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/bankruptcy-drama-for-theatre-entrepreneur-michael-edgley/2011071950844" title="Bankruptcy drama for Michael Edgley" target="_blank"><img src="/images/stories/7m.jpg"></a>
 
The amount theatre impressaio <a href="https://www.propertyobserver.com.au/news/bankruptcy-drama-for-theatre-entrepreneur-michael-edgley/2011071950844" title="Bankruptcy drama for Michael Edgley" target="_blank">Michael Edgley, who has filed for bankruptcy, owes his creditors</a>. Edgley, who brought acts like Moscow Circus and Cirque du Soleil to Australia, took out a $4.5 million loan for a Lower Beechmont property in 2007. Receivers sold the property earlier this year for $2.35 million.
</body></html>

<html><body>
<a href="https://www.propertyobserver.com.au/residential/falls-creek-snow-bargains-for-the-brave-beautiful-and-blinkered/2011082951319" title="Ski auction" target="_blank"><img src="/images/stories/30k.jpg"></a>
The price for the least expensive of <a href="https://www.propertyobserver.com.au/residential/falls-creek-snow-bargains-for-the-brave-beautiful-and-blinkered/2011082951319" title="Ski auction" target="_blank">77 ski properties in the Victorian snow fields that were sold</a> at a no-reserve auction last week. The properties were sold by developer Morry Schwartz, and the buyers ranged from cashmere-wearing ski bunnies to rough-and-tumble snowboarders.
 
<hr>
<a href="https://www.propertyobserver.com.au/economy/commonwealth-bank-expects-rates-to-rise-other-banks-not-so-sure/2011082951320" title="Commonwealth bank expects rate rise" target="_blank"><img src="/images/stories/025.jpg"></a>
 
The amount by which the <a href="https://www.propertyobserver.com.au/economy/commonwealth-bank-expects-rates-to-rise-other-banks-not-so-sure/2011082951320" target="_blank">Commonwealth Bank expect the Reserve Bank of Australia to raise interest rates</a> in November. However, ANZ and NAB expect rates to remain on hold for quite some time, whereas Westpac expects a rate cut.
 
<hr>
<a href="https://www.propertyobserver.com.au/international/christina-aguilera-loses-almost-%2440000-selling-her-house/2011082951335" title="Christina Aguilera" target="_blank"><img src="/images/stories/400thou.jpg"></a>
 
The amount, approximately, that <a href="https://www.propertyobserver.com.au/international/christina-aguilera-loses-almost-%2440000-selling-her-house/2011082951335" title="Christina Aguilera" target="_blank">Christina Aguilera lost when she sold her Sunset Strip, Hollywood house </a>for about $4.65 million this week. She bought the property for an even $5 million in 2003.
 
<hr>
<a href="https://www.propertyobserver.com.au/residential/even-building-award-winners-finding-the-market-tough/2011083051345" target="_blank"><img src="/images/stories/8.jpg"></a>
 
The <a href="https://www.propertyobserver.com.au/residential/even-building-award-winners-finding-the-market-tough/2011083051345" title="Fall in new home sales" target="_blank">fall in new home sales for the July quarter</a>, according to HIA. New home sales are now at their lowest level since 2000.
 
<hr>
<a href="https://www.propertyobserver.com.au/international/eureka-penthouse-hoped-to-fetch-sky-high-price/2011083051361" title="Eureka tower" target="_self"><img src="/images/stories/13m.jpg"></a>
 
The price hopes for the <a href="https://www.propertyobserver.com.au/international/eureka-penthouse-hoped-to-fetch-sky-high-price/2011083051361" title="Eureka Tower sale" target="_blank">84th-floor penthouse in Melbourne's Eureka tower</a>, which will go on sale next month. The penthouse is nearly 300 metres above ground.
 
<hr>
<a href="https://www.propertyobserver.com.au/residential/disgraced-property-spruikers-plead-guilty-and-cry-poverty/2011083051348" title="Disgraced property srpuikers" target="_blank"><img src="/images/stories/49point4c.jpg"></a>
 
The amount on the dollar that <a href="https://www.propertyobserver.com.au/residential/disgraced-property-spruikers-plead-guilty-and-cry-poverty/2011083051348" title="ACR " target="_blank">creditors of disgraced Australian Capital Reserve property spruiking company received</a>. Three of ACR's directors have pleaded guilty to charges of fraud ahead of their criminal trials. Two are living in multimillion-dollar houses but have claimed to have no assets.
 
<hr>
<a href="https://www.propertyobserver.com.au/residential/leonardo-dicaprio-gets-his-sydney-tennis-court-for-gatsby-shoot/2011083151370" target="_blank"><img src="/images/stories/10k.jpg"></a>
 
The amount per week actor <a href="https://www.propertyobserver.com.au/residential/leonardo-dicaprio-gets-his-sydney-tennis-court-for-gatsby-shoot/2011083151370" title="Leonardo DiCaprio" target="_blank">Leonardo DiCaprio will pay per week to rent a property in Vaucluse </a>while he films the titular role in Baz Luhrmann's adaptation of The Great Gatsby in Sydney.
</body></html>

<html><body>
<a href="https://www.propertyobserver.com.au/news/adelaide-hills-are-alive-with-the-sound-of-money/2011061550495" title="Adelaide Hills" target="_blank"><img src="/images/stories/tenpointfive.gif"></a>
<div>The percentage by which<a href="https://www.propertyobserver.com.au/news/adelaide-hills-are-alive-with-the-sound-of-money/2011061550495" title="Adelaide Hills are alive with the sound of money" target="_blank"> property prices increased in the South Australian municipality of Adelaide Hills</a>, according to RP Data. The region has defied the nationwide trend of falling house prices and is outperforming the South Australian capital of Adelaide.</div>
<div></div>
<div></div>
<div><a href="https://www.propertyobserver.com.au/news/one-in-50-queensland-mortgage-owners-is-in-arrears/2011061450488" title="One in 50 mortgage holders in arrears" target="_blank"><img src="/images/stories/two.gif"></a></div>
<div>The percentage of <a href="https://www.propertyobserver.com.au/news/one-in-50-queensland-mortgage-owners-is-in-arrears/2011061450488" title="One in 50 Queensland mortgage holders in arrears" target="_blank">Queensland mortgage holders who can't pay their lenders on time</a>, according to a report released this week by Fitch Ratings. That means one in 50 Queensland mortgage holders is in arrears.</div>
<div></div>
<div><a href="https://www.propertyobserver.com.au/news/jump-in-housing-start-figures-unexpected-but-welcome/2011061550497" title="Jump in housing starts surprising but welcome" target="_blank"><img src="/images/stories/threepointone.gif"></a></div>
<div>The percentage by which the <a href="https://www.propertyobserver.com.au/news/jump-in-housing-start-figures-unexpected-but-welcome/2011061550497" title="Jump in housing starts surprising but welcome" target="_blank">number of housing starts rose in the March quarter of 2011</a>, surprising economists, who had forecast that there would be a fall in new starts during the period.</div>
<div></div>
<div><a href="https://www.propertyobserver.com.au/news/landlords-under-microscope-as-ato-cracks-down/2011061450489" title="Landlords under investigation" target="_blank"><img src="/images/stories/onehundredthousand.gif"></a></div>
<div>The number of<a href="https://www.propertyobserver.com.au/news/landlords-under-microscope-as-ato-cracks-down/2011061450489" title="Landlords under investigation" target="_blank"> landlords whose tax claims will be thoroughly investigated</a>, according to the Australian Tax Office.</div>
<div></div>
<div><a href="https://www.propertyobserver.com.au/news/southern-highlands-buyer-found-after-four-year-pursuit/2011061450481" title="Southern Highlands property finds buyer" target="_blank"><img src="/images/stories/four.gif"></a></div>
<div>The number of years the Southern Highlands property The Chase was on the market before<a href="https://www.propertyobserver.com.au/news/southern-highlands-buyer-found-after-four-year-pursuit/2011061450481" title="The Chase finds buyer" target="_blank"> finding a buyer this week</a>.</div>
<div></div>
<div><a href="https://www.propertyobserver.com.au/news/ceos-to-take-to-the-streets/2011061450477" title="CEOs take to the streets" target="_blank"><img src="/images/stories/theepointeight.gif"></a></div>
<div>The amount of money raised by top Australian CEOs, including L. Janusz Hooker of LJ Hooker, during the <a href="https://www.propertyobserver.com.au/news/ceos-to-take-to-the-streets/2011061450477" title="CEOs take to the streets" target="_self">CEO sleepout on Thursday, June 16</a>. St Vincent de Paul will use the money raised by CEOs sleeping rough to  combat homelessness.</div>
<div></div>
<div><a href="https://www.propertyobserver.com.au/news/darwin-rental-vacancy-rate-doubles-in-three-months/2011061550496" title="Darwin rental vacancy rate doubles" target="_self"><img src="/images/stories/fourpointsix.gif"></a></div>
<div>The rental vacancy rate in Darwin over the March quarter, according to the Real Estate Institute of Australia. The vacancy rate <a href="https://www.propertyobserver.com.au/news/darwin-rental-vacancy-rate-doubles-in-three-months/2011061550496" title="Darwin vacancy rate doubles" target="_blank">doubled over the quarter</a>.</div>
</body></html>

<html><body>
<img src="/images/stories/5mil.jpg">
The amount that <a href="https://www.propertyobserver.com.au/news/tennis-stars-noosa-retreat-fetches-%245-million/2011070450689">Formula One driver Mark Webber spent on his Noosa retreat</a>. Webber bought the property, which last sold for $3.5 million in early 2006, from tennis ace Thomas Muster.
 
<hr>
 
<img src="/images/stories/point8.jpg">
The <a href="https://www.propertyobserver.com.au/news/big-squeeze-on-melbourne-laneway-retail-vacancies/2011070450694">vacancy rate in Melbourne's iconic laneway retail arcades</a>. Overall retail vacancy in the Melbourne CBD stands at 2%.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/nsw-new-home-approvals-near-record-low/2011070450695"><img src="/images/stories/27.jpg"></a>
 
The decline in <a href="https://www.propertyobserver.com.au/news/nsw-new-home-approvals-near-record-low/2011070450695">new home approvals in New South Wales</a> for the month of May, according to ABS figures. Only 1,394 new homes were approved, the second-worst May approval figure since the ABS started keeping records.
 
<hr>
<img src="/images/stories/795.jpg"> 
The average cost of a house in the <a href="https://www.propertyobserver.com.au/news/landlords-yield-ore-inspiring-returns-from-wa-mining-boom/2011070450699">WA town of Karratha, and the average rental yield is 10.5%</a>, according to REIWA figures. The mining boom has created one of the tightest rental markets in Australia.
 
<hr>
<img src="/images/stories/26percent.jpg"> 
The <a href="https://www.propertyobserver.com.au/news/brokers-drop-26-as-value-of-loans-written-drops-%242.7-billion/2011070450692">decline in the number of mortgage broking firms operating in Australia</a> over the year to March 2011, according to new figures from Market Intelligence Strategy Centre.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/one-in-10-buyers-choosing-to-rent-to-invest/2011070750728"><img src="/images/stories/1in10.jpg"></a>
 
The <a href="https://www.propertyobserver.com.au/news/one-in-10-buyers-choosing-to-rent-to-invest/2011070750728">number of buyers whose first property purchase is an investment property</a>, rather than a home to live in themselves.
 
<hr>
<img src="/images/stories/40.jpg"> 
The <a href="https://www.propertyobserver.com.au/news/was-south-west-shaken-not-stirred/2011070650723">discount being offered on some properties in south-east Western Australia</a>, where a massive oversupply of housing, a shrinking tourism market and the contraction of the wine industry have led to a very soft housing market.
</body></html>

<html><body>
The recovery in the Australian housing market continues, with the ABS today reporting a 0.8 per cent gain in property values across the nation's capital cities over the September quarter.

Seven out of the eight states and territories saw gains, with only Melbourne, who endured further lockdowns, seeing a contraction. Their values however only scaled back -0.3 per cent.

The best performer was Adelaide, whose dwelling values rose 1.6 per cent over the quarter. They were closely followed by Brisbane (+1.5 per cent) and Perth (+1.4 per cent).

Hobart's +1.2 per cent gains made it the best performer over the last 12 months, with values up six per cent since the September quarter 2019.

Sydney values rose one per cent in the September quarter to be the next best yearly performer, up 5.4 per cent since this time last year.

<table border="1" cellpadding="1" cellspacing="1" style="width:500px;">
<caption>September Qtr Property Prices</caption>
	<thead><tr>
<th scope="col">Residential Property Prices</th>
			<th scope="col">June Qtr 20 to Sept Qtr 20</th>
			<th scope="col">June Qtr 19 to Sept Qtr 19</th>
		</tr></thead>
<tbody>
<tr>
<td class="rtecenter">Weighted average of capital cities</td>
			<td>
			0.8%
			</td>
			<td>
			4.5%
			</td>
		</tr>
<tr>
<td class="rtecenter">Sydney</td>
			<td class="rtecenter">1%</td>
			<td class="rtecenter">5.4%</td>
		</tr>
<tr>
<td class="rtecenter">Melbourne</td>
			<td class="rtecenter">-0.3%</td>
			<td class="rtecenter">4.7%</td>
		</tr>
<tr>
<td class="rtecenter">Brisbane</td>
			<td class="rtecenter">1.5%</td>
			<td class="rtecenter">3.1%</td>
		</tr>
<tr>
<td class="rtecenter">Adelaide</td>
			<td class="rtecenter">1.6%</td>
			<td class="rtecenter">2.6%</td>
		</tr>
<tr>
<td class="rtecenter">Perth</td>
			<td class="rtecenter">1.4%</td>
			<td class="rtecenter">2.4%</td>
		</tr>
<tr>
<td class="rtecenter">Hobart</td>
			<td class="rtecenter">1.2%</td>
			<td class="rtecenter">6%</td>
		</tr>
<tr>
<td class="rtecenter">Darwin</td>
			<td class="rtecenter">0.8%</td>
			<td class="rtecenter">-0.7%</td>
		</tr>
<tr>
<td class="rtecenter">Canberra</td>
			<td class="rtecenter">0.9%</td>
			<td class="rtecenter">5%</td>
		</tr>
</tbody>
</table>
Head of Prices Statistics at the ABS, Andrew Tomadini, said new lending commitments to households, auction clearance rates and sales transactions all improved during the September quarter.

"Residential property transactions rose in a number of capital cities in the September quarter 2020. Substantial increases were observed in Sydney and Brisbane", Mr Tomadini said.

"Property prices continued to fall in Melbourne in the September quarter, due to the impacts of COVID-19 restrictions. Melbourne house prices fell 0.3 per cent and attached dwelling prices fell 0.2 per cent."

The total value of Australia’s 10.6 million residential dwellings rose by $87.8 billion to $7,283.3 billion in the September quarter 2020. The mean price of residential dwellings in Australia is now $689,500.

The number of residential dwellings rose by 44,000 to 10,562,800.
</body></html>

Latest Property News

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Property News

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News