<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

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>

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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?

Boutique Perth developer ADC has unveiled its latest project.

The developer, which focuses on bringing apartments to some of Perth's most premium inner-city and riverside suburbs, has launched <a href="https://www.apartments.com.au/new-apartments/mos-lane-mosman-park-46-manning-street-mosman-park-wa-6012">Mos Lane</a>, 68 luxury apartments and townhouses in the heart of <a href="https://www.apartments.com.au/developments/mosman-park-wa-6012">Mosman Park</a>.

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Alongside the one-, two-, three- and four-bedroom apartments, the development will also include five two-level townhomes and two luxe penthouses. ADC is also introducing a significant retail offering for residents through Mos Lane Village, which will feature a wellness studio, fish and chips shop, barber, and florist, adding a layer of amenity not typically found in the predominantly residential Mosman Park area.

Construction has already commenced on the project, which sits just a short walk from the Swan River, Mosman Park Bowls Club, and Mosman Park Golf Course.

House Agency Directors Tom House and Lachlan McDonald say they are fielding the majority of buyer interest from local downsizers, as well as buyers with a long-standing affinity for Mosman Park.
</section>

[smartcode_project:default project_id=148957 project_image_fid=364591]

Mos Lane will comprise two buildings; Samson House and Manning House, which have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/nelson-koo">Nelson + Koo</a>, an emerging design consultancy specialising in the masterplanning and design of mixed use places and spaces.

The two buildings adopt distinct architectural responses to their surroundings. Manning House references the strong roof forms of nearby homes, with floorplates oriented to maximise light and long-range views, while Samson House is organised around a central atrium designed to bring daylight deep into the building and create a greater sense of openness.

At ground level, the inclusion of five townhomes introduces a typology more commonly associated with Mosman Park’s established streets, each with private courtyards and direct frontage, offering a transition between traditional housing and apartment living.

[smartcode_project:default project_id=148957 project_image_fid=364103]

Interiors have been led by Melbourne-based Hecker Guthrie, with an emphasis on practical, long-term liveability. Residences incorporate sculpted joinery, generous storage and flexible multi-purpose rooms that can adapt to changing household needs, whether for working from home, guest accommodation or additional living space.

Material selections draw on a restrained palette of textured stone, timber and neutral tones, with options for lighter or darker schemes. Detailing such as fluted glass, full-height joinery and integrated appliances is intended to balance functionality with a more refined residential finish.

Outdoor spaces are a consistent feature across the development, with balconies and terraces designed for dining and entertaining, and larger apartments incorporating outdoor kitchens. Orientation has been considered to allow residents to choose between morning or afternoon sun, while mature street trees and landscaped communal areas contribute to a softer streetscape.

[smartcode_project:default project_id=148957 project_image_fid=364107]

Shared amenities are positioned to support both day-to-day convenience and occasional use. These include a private dining room with a caterer’s kitchen, alfresco entertaining areas, and a bookable guest suite for visiting friends and family. Additional practical features such as a resident workshop, storage facilities, car and pet wash areas, and concierge-style services for cleaning and dry-cleaning collection reflect a focus on usability.

Positioned between the Swan River and Cottesloe Beach, and within reach of schools such as Iona Presentation College and St Hilda’s Anglican School, the development is aimed at a broad buyer group, from downsizers seeking a lower-maintenance alternative to larger homes, through to local residents looking to remain in the area in a different housing format.

Mos Lane represents one of the more significant additions to Mosman Park’s limited pipeline, combining new housing supply with a village-style retail centre in a suburb where opportunities for large-scale redevelopment are relatively constrained.

[smartcode_project_cta:default project_id=148957]

Living village precinct set for Mosman Park as ADC launches Mos Lane

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Preliminary data indicates that Perth’s median house price for the September quarter is currently below the June quarter figure, largely due to earlier settlements from strong first-home buyer activity.
This is a preliminary call on the state of the market, and data from reiwa.com suggests it will lift back to the June quarter median of $484,000 with late settlements.
First-home buyers now account for almost 30% of all sales, and there is no doubting their impact in the market as they eagerly purchase the more affordable properties.
The reasonably stable prices and low interest rates over the last nine months have resulted in overall turnover picking up by almost 20% on the same time last year, but sales from trade-up buyers fell by around 4% during the quarter.
Significant falls in turnover were reported in <a target="_blank" href="/news">Rockingham</a>-<a target="_blank" href="/news">Kwinana</a>, the eastern and western parts of <a target="_blank" href="/news">Stirling</a>, northern <a target="_blank" href="/news">Joondalup </a>and the western suburbs.
Despite a drop in turnover for the September quarter, a number of sub-markets defied the trend with increased sales. These included <a target="_blank" href="/news">Armadale</a>-<a target="_blank" href="/news">Serpentine</a>, <a target="_blank" href="/news">Swan</a>, <a target="_blank" href="/news">Cockburn</a>, <a target="_blank" href="/news">Vincent</a>, the north-east part of <a target="_blank" href="/news">Wanneroo </a>and south east section of Stirling.
Our REIWA members are reporting a 3% increase in sales of flats, units, apartments and villas, but with no movement in the overall median price of $390,000. Once again, this preliminary figure is likely to lift when revised to be level with the June figure.
REIWA data for the September quarter show that the stock of listings has fallen 14% to just 10,400 properties and the number of days on market has dropped a little to 71 days.
The more stable conditions have resulted in fewer sellers reducing their asking price and the average variance between the asking price and eventual selling price has also come down, now sitting at just under 6%.
In the regions, the median house price came down slightly to $360,000, while units and villas grew marginally to a median of $327,000. Results are patchy across the breadth of the state.
 
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In Mandurah-Murray, this weak market is definitely on the mend, with sales up by% on the same time last year. Initial readings suggest a rise in their median price but we need further data before we can confirm this.
In <a target="_blank" href="/news">Bunbury </a>turnover is up by 25% on the same time last year and with a 3% lift in the median house price.
<a target="_blank" href="/news">Albany </a>has had negligible movement in price or turnover, and the number of listings is down by 17% during the quarter.
<a target="_blank" href="/news">Kalgoorlie</a>–<a target="_blank" href="/news">Boulder </a> turnover increased by 25% on last year, but with a stable median price. Listings came down significantly by 35% during the quarter, which also happened this same time last year.
<a target="_blank" href="/news">Geraldton</a>-<a target="_blank" href="/news">Greenough </a>seems to be the weakest of the regional markets. Although sales turnover is up by a huge 75% on last year, the median price seems to have dropped by around 3% and the mid-west city is awash with listings, including 325 blocks of land.
REIWA members in the Pilbara are reporting that the housing pressure has come off in <a target="_blank" href="/news">Karratha</a>, with a jump in listings and the vacancy rate for rentals blowing out to 6%.
Despite a slowdown in the mining and resources sector, population growth in WA is stronger than anywhere else in the country and this does not appear to be slowing.
Investors still seem hesitant to return to the WA market, but there are signs of this starting to turn around as rental yields improve on the back of rising rents, low interest rates and stable prices.
Despite the large number of first [home buyers exiting the rental system to secure their own home, pressure continues on the metropolitan rental system through strong population growth.
Our data show that in metropolitan Perth the vacancy rate has tightened from 1.9% in the June quarter to 1.8% in the September quarter, with the median rent sitting at $450 per week, an increase of $20 on June.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Strong first-home buyer activity in WA as sales turnover trends down

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As the population continues to grow, and the sprawl of suburbia grows along with it, the City of Perth and the people who live there are starting to feel the strain. How often do we find ourselves in bumper-to-bumper traffic, just trying to get home from work? That is, really, where the problem lies. We do not live where we work; we commute long distances many times without a reliable public transportation system. The prices of inner-city and inner-suburban housing is rising to the point where many Perth families are moving to the outer suburbs as a solution, causing traffic problems, stress and time wastage.
Why is urban sprawl a problem? Many people cannot immediately see why living far from where they work is a problem. But just think about it, as fuel costs rise, it will cost more for the average individual to get from point A to point B. In addition to this, roads, amenities and other services must be provided to these lower populated suburban areas. To provide for this sprawl, the State and cities are spending countless millions of dollars each year to increase the amount of services in suburbs that in today’s traffic, can be hours away, and people have no choice but to move to the outer suburbs because of the rising cost of living. With such a small amount of property available in the city, the rents in Perth have gone out of control, as the demand for accommodation nearer popular amenities rises. What do we do? Before the mining and population boom, people were more likely to live closer to where they worked and the services they used. This meant if you worked in the city, you lived in the city, and it made perfect sense. Local councils in Perth are still blocking the development of multi-story accommodation, which is adding to the sprawl problem as they don’t all have the same rules when it comes to zoning. Doing away with the 30 councils in favour of a few larger ones with a uniform approach to urban infill would be more in line with the state government’s 2031 and Beyond plan. Building apartments in and near Perth city provides quality housing for that larger number of people that are moving here every day. With populations rising, we cannot continue to sprawl to the point where one community blends into another, making the main roads into Perth part of the traffic chaos instead of using the land positively. Gentrification, or the revitalization of cities, provides a means for people to live and work comfortably. Workers spend less money on fuel and transportation and the city becomes a destination for WA people to live and work.
The new proposed MAX light rail system will go a long way to ensuring that parts of the city are rejuvenated, and that nearby suburbs are once again favoured for investment and to live in. The demand for housing near public transportation has always been a great investment opportunity for savvy buyers, and those wanting to invest in the future of their city, as more transport generally equals less traffic, more retail and business opportunities as well as accessible accommodation, thus reducing the cost of living.
James Limnios is the CEO of <a target="_blank" href="https://www.limnios.com/">Limnios Property Group</a>, is a City of Perth councillor, and is very passionate about real estate and political issues in Perth, WA. You can connect with James on <a target="_blank" href="https://twitter.com/jameslimnios">Twitter</a>,<a target="_blank" href="https://www.propertyobserver.com.au/https://plus.google.com/111490789069514581435"> Google Plus </a>and on his <a target="_blank" href="https://jameslimnios.blogspot.com/">blog</a>.
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Perth inner-city living needs an upgrade

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The Perth property market has turned the corner and is now well into its upswing, according to property clock estimates from property valuers and investment advisors WBP Property Group.
WBP places Perth houses at seven o’clock on the property clock and its unit market further into an upswing at eight o’clock.
<img src="/images/stories/2012/10/clock-generic.jpg">
<ul>
<li>At 12 o’clock the market is at its peak (demand exceeds supply)</li>
<li>At 3 o’clock the downswing has set in (an evenly supplied market)</li>
<li>By 6 o’clock it has bottomed out (an oversupplied market).</li>
<li>At 9 o’clock the market is rebounding (supply tightening)</li>
</ul>
In its commentary on the Perth detaching housing market, WBP says supply has decreased and there has been a "significant increase in buyer activity in the sub-$500,000 market".
“Yields are continuing to rise as rental levels increase, which is resulting investors come back into the market.
“With supply issues now coming into effect and housing shortage becoming more evident, it is considered the cycle will continue for the medium term,” says WBP.
Taking a look at the Perth unit market, WBP says strong rental demand and the increase in the median rental has resulted in higher yields.
“Investors that are looking for even to positively geared properties are active in the sector,” says WBP.
According to October data from RP Data-Rismark released yesterday, Perth was the strongest performing market over the month, with dwelling values up 0.4% over the month and 3.5% year-on-year to a median of $460,000.
The Perth median house price is up 3.8% year-on-year to October to a median of $475,000, while unit prices are 3.5% to a median of $397,500.
RP Data puts Perth yields at 4.5% for houses and 4.9% for units.
According to RP Data senior research analyst Cameron Kusher the Perth housing market is just starting to turn around after more than five years of decline.
"Perth prices are still 7% below their peak," he says.
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Perth property market into its upswing: WBP

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The average days on market for property in Perth has dropped to its lowest point in four months, according to Raine &amp; Horne data.
The average number of days on market has dropped 15% since June 2012, from 135 days to 115 days.
Raine &amp; Horne North Perth agent Larry Gallagher expects the rate to drop even further with near record-low interest rates, near record-high rents, low stock levels and large population growth.
“Over a thousand people a week are pouring into Perth looking for accommodation, and there currently isn’t enough stock on the market to keep up with the demand,” Gallagher says.
“As a result, accommodation has reached a tipping point, especially with homes listed under the $500,000 mark, which are selling like hotcakes.”
His colleague Nick Pagano recently sold two properties in under a week.
“1/176 8th Avenue, Inglewood, sold in just four days for $480,000, and an older-style home at 4 Latham Street, Ashfield, sold in just two days for $439,000,” Gallagher says.
“Both properties were the subject of multiple offers and sold to first-home buyers.”
RP Data shows the <a target="_blank" href="/news">Inglewood </a>property last traded for $430,000 in 2008 after 18 days on market. 
Recent Real Estate Institute of Western Australia figures show property sales jumped 21% in the second week of October.
Midland is one area where the surge of first home-buyers, many driven by increasing rents, is pushing down days on market.
“As soon as a property hits the market it is being bought, especially in the lower-end where first home buyers can usually be found,” says Vince Pileggi, principal Raine &amp; Horne Midland.
"We've been selling properties within a day here. Houses aren't staying on the market longer than four weeks if they're priced correctly."
His office recently sold a property in less than seven days in <a target="_blank" href="/news">High Wycombe</a>, east of Perth Airport, for $455,000.
“The purchasers of this home were first-home buyers, and properties priced in this range will often only have one open house before they’re snapped up.”
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Number of days on market in Perth drops, with sub-$500,000 properties 'selling like hotcakes': Raine & Horne

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Perth house prices have had the strongest gains over the last year and quarter.
And only Hobart was stronger during September among Australian capital cities.
Perth house prices have grown 6.63% over the year ending September, 6.7% over the last quarter and 2.44% over the last month, according to Residex data.
Hobart had gains of 3.62% over the last month.
The median price in Perth is now $498,000, with an average growth of 9.02% per year over the last 10 years.
Its average price growth is beaten only by Darwin where house prices have grown an average of 10.01% per year over the last 10 years.
<img src="/images/stories/2012/10/afford3.jpg">
There were 24,707 house sales in Perth last year, up 13.41% from the previous year.
House rents in the city are up 21.52% for the year to $480 per week. The increase is double anywhere else in the country.
For units the trend is similar, with Perth showing the greatest price growth over the last year (12.73%), quarter (2.23%) and month (2.21%) for any capital city. Unit prices have grown 9.29% per year over the last 10 years, beaten by 10.75% in Darwin.
The median unit price in Perth is now $430,000.
Unit rents are up 20.83% for the year to $435 per week. The next highest increase was 20% in Sydney, where unit rents are now $540 per week.
There were 11,808 unit sales in Perth over the last year, up 15.81% over the previous year.
Across Australia house prices are up 0.94% for the month and unit prices are unchanged.
Over the last month house prices fell in Darwin, Adelaide and Brisbane. Unit prices fell in every state capital except Sydney and Perth.
Sydney is still by far the most expensive place to buy a house or apartment. The median house price is $668,500, more than $100,000 more expensive than Melbourne, the next highest. Sydney unit prices are $498,000, more than $60,000 more than Melbourne.
Residex says its latest figures are good for home owners, putting the Reserve Bank in good stead for another rate cut.
“The potential rate cut comes on the back of an improving housing market Australia wide, and additional rate cuts should help ensure the market remains stable and leaves adjustment phases recently seen in many markets behind,” Residex chief John Edwards says.
Edwards says some people may see the conditions as the possible makings of a housing bubble but he says that is not the case.
“Affordability is still not terrific in the major capital cities, even with the interest rate reduction… The unit market is affordable, the house and land market in Melbourne, Sydney, Perth and Darwin are unaffordable, and some of the others are marginally affordable.”
He says consumer confidence is low and the unemployment rate is likely to rise which will be countered by increased building projects.
“Overall, if there is a housing bubble risk, the markets to watch are unit markets, in particular those where there is currently a stock shortage. In essence, the main risk is Perth and to a lesser extent, Brisbane.”
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Perth property experiences strongest gains in country: Residex

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Moora, in Midland WA is the state’s most affordable location, according to RP Data figures.
Median houses prices in the suburb, two hours north of Perth, is $193,637.
In the last 12 months there have been 25 sales in the town. There are currently a number of properties up for grabs.
A two-bedroom cedarwood bungalow at <a href="https://www.realestate.com.au/property-house-wa-moora-111616783">11 Gardiner Street</a> is listed for sale at $159,950. Agent Laurie Armstrong bills the property as an “investor's delight”.
The house comes on 506 square metres and has two street frontages. It is in the southern edges of the town.
A little bit closer to the centre of town at <a href="https://www.realestate.com.au/property-house-wa-moora-111181143">80 Gardiner Street</a> is a two-bedroom timber bungalow with an iron roof listed at $145,000 by the same agent.
Armstrong bills the property as being “right on for the first home buyer”. It comes on 1,012 square metres with a shed.
In a higher price bracket, <a href="https://www.realestate.com.au/property-house-wa-moora-111297195">lot 205 Riley Road</a> is listed at more than $390,000. The four-bedroom, two-bathroom home comes on two hectares.
Agent Jason Greay lists the property as being in a quiet area of town close to the Moora Race Club, the local horse racing area.
The property comes with numerous horse related extras.
The wheatbelt town suffered from significant floods in 1999 when cyclone Elaine caused the Moore River to break its banks. This was followed by heavy rainfalls later in the year, which caused a second flood.
At last count the population of the town was 4,642 people, according the 2011 ABS census. There are 2,264 private dwellings. The population is slightly older than the rest of WA, and relatively few are university educated.
The second most affordable suburb in WA is Katanning, 250 kilometres south-east of Perth and then Kambalda West, in Coolgardie.
Just two Perth suburbs feature on the list, Brookdale and Orelia, both on the outer fringes. 
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;">
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<col width="145">
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<tbody>
<tr height="20">
<td width="104" height="20">Suburb</td>
<td width="94">Median Value</td>
<td width="167">Number sold (12 months)</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Moora</a></td>
<td align="right">193637</td>
<td align="right">25</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Katanning</a></td>
<td align="right">196507</td>
<td align="right">44</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Kambalda West</a></td>
<td align="right">204895</td>
<td align="right">25</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Narrogin</a></td>
<td align="right">216212</td>
<td align="right">34</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Utakarra</a></td>
<td align="right">232003</td>
<td align="right">23</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Collie</a></td>
<td align="right">238225</td>
<td align="right">53</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Manjimup</a></td>
<td align="right">238851</td>
<td align="right">42</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Withers</a></td>
<td align="right">254321</td>
<td align="right">42</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Brookdale</a></td>
<td align="right">264527</td>
<td align="right">49</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Double</a></td>
<td align="right">266667</td>
<td align="right">52</td>
</tr>
<tr height="20">
<td height="20"><a target="_blank" href="/news">Orelia</a></td>
<td align="right">267647</td>
<td align="right">95</td>
</tr>
<tr height="20">
<td height="20"><a href="/news">Spalding</a></td>
<td align="right">268025</td>
<td align="right">20</td>
</tr>
</tbody>
</table>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
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Moora tops list of 12 most affordable WA locations

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One of Western Australia’s most controversial developments, the 40.5-hectare Smiths Beach development site, is on the market. 
The oceanfront land, mired in red tape for the best part of a decade, is tipped for a large-scale Yallingup tourism and residential venture.
<img src="/images/stories/2012/10/smiths.jpg">
An expressions of interest campaign is being run by Jones Lang LaSalle closing in late November.
The property is owned by a syndicate of investors, and JLL WA director of sales Phil Fogliani says they are considering a full-sale or a joint venture, depending on the offers received.
Compared as in the same class as Byron Bay, Coffs Harbour, Lorne and Noosa Heads, the site is covered by the Leeuwin Naturaliste Ridge Statement of Planning Policy, says JLL, under which it is designated as a tourist node with a residential development ratio of 70% tourism and 30% residential.

The Smiths Beach project was the subject of a Corruption and Crime Commission investigation in 2007, which looked into the actions of former WA Premier Brian Burke, who lobbied the state government on behalf of developers. The CCC was told that Canal Rocks managing director and Perth real estate agent David McKenzie – a Noel Crichton-Browne friend – hired the Burke-Crichton-Browne-Grill lobbying team.
The CCC report concluded Canal Rocks secretly paid more than $47,000 to candidates sympathetic to their development in the Busselton Shire Council election and by-election in 2005 and attempted to delay a new town planning scheme so the development could be assessed under less strict conditions.
Burke was charged with five counts of lying to the CCC investigation and was acquitted on four charges.
He lost an appeal against his one conviction and $25,000 fine earlier this year.
Smiths Beach is about three hours’ drive south of Perth, at the northern end of the Margaret River wine region.
The project is still awaiting formal subdivision approval from the WA Planning Commission, but all other approvals have been secured.
The current plan includes up to 61 residential lots, seven separate tourism lots of up to 40 units each, and a 3.3-hectare resort site with about 250 units.
The net development area is 19.11 hectares, with the rest of the land reserved for recreation.
Elevation at the site is between 4 metres and 58 metres. The property was formerly owned by one-time British Conservative Party treasurer Lord Alistair McAlpine, who invested heavily in WA during the 1980s.
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jchancellor-FAypfDUnLy

Smiths Beach in WA on the market after almost a decade mired in controversy

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One of the most important economic announcements of the year has passed without fanfare and almost without comment. The venture will create the most powerful telescope ever made (it will have 2,000 dishes, each 12 metres wide).
The Square Kilometre Array is a $2.5 billion project that will make Australia the focus of major international attention for reasons other than the mining sector.
It’s an international project involving 20 nations, and a site just outside Geraldton in Western Australia will provide the core of the development. This makes Geraldton a city of international importance and adds to its appeal as a place worthy of consideration by property investors.
<img src="/images/stories/2012/06/geraldton.png">
It’s been in the making for several years, with Australia initially making a short list of two to secure the project. It has a discovery potential 10,000 times greater than the best present-day telescopic instruments. It will allow us to see further into the universe than ever before
The federal government gave $80 million in the 2009 budget towards winning the project for Australia. The funds established an Australian National Centre for SKA Science to help the nation’s bid for this project, including a mini-SKA, the $110 million Australian SKA Pathfinder (ASKAP) to road test Australia’s candidate site for the SKA.
In November 2011 the Western Australian government announced a $15 million plan to provide power for the SKA project, via a hybrid diesel/solar power plant. Funding for the project came from the Royalties for Regions Mid-West Investment Plan.
In other words, there was a considerable economic boost to Geraldton just in the attempt to win the project.
In May 2012 it was decided that Geraldton and its South African opponent would share the venture.
The decision means a square kilometre of dishes with multi-pixel radio cameras will be established at Boolardy Station, north-east of Geraldton.
Phase one of the project will start in 2016 and run until about 2020, with the remainder to be built in phase two. Its cost is currently estimated at $2.5 billion to build and $25 billion to maintain over the next 50 years, paid for by a consortium of 20 countries.
This makes Geraldton a city of international importance and adds to its appeal as a place worthy of consideration by property investors.
The other big venture impacting on Geraldton’s future is the $6 billion Oakajee port and rail project. This has been designed to service the iron ore mines of WA’s mid-west region, which doesn’t get the attention directed to the Pilbara but is nevertheless a key component of WA’s resources success story.
The Oakajee project has stalled because one of the key proponents, Murchison Metals, was essentially out of its depth and couldn’t fund it. Its partner, the Japanese giant Mitsubishi, has bought out Murchison and hopefully will advance the project, either alone or with new financial partners.
It the meantime, some of the other miners active in the mid-west have come up with “a rescue plan” to ensure this much-needed piece of infrastructure goes ahead, one way or the other.
Geraldton appeals to me because, unlike regional centres further north like Karratha and Port Hedland, it’s not reliant on mining as the only trick in its repertoire.
If iron ore mining shut down tomorrow, Geraldton would still chug along happily as a regional centre servicing a diverse economy with strong elements of agriculture, fishing and tourism. The SKA provides an additional major element.
The other key difference with Geraldton is that its real estate is affordable. You pay $800,000-ish for the typical Karratha house and over $1 million for the average dwelling in Port Hedland (and it is very average).
The mainstream house in Geraldton costs somewhere in the $300,000s, with a number of suburbs having median house prices in the $200,000s. The city has plentiful land supply, which means it doesn’t have the shortages that have bloated prices and rents in Karratha and Port Hedland.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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terryryder-YECXbqmri2

The Square Kilometre Array will bring international attention – and property investment – to Geraldton, WA: Terry Ryder

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The regional centre of Manjimup, about 300 kilometres south of Perth, the Southern Hemisphere’s biggest producer of perigold black truffles, has also gained the title of the local government area with the most acute housing shortage.
The list of the 30 municipalities contains just three locations on the metropolitan fringe – the Perth suburbs of Melville, Mundaring and Joondalup – weakening the argument that land release problems in the outer suburbs of the major cities is a key reason for Australia’s contested housing shortage.
<img src="/images/stories/manjimup1.jpg">
Over the weekend, <a href="https://www.propertyobserver.com.au/residential/no-australian-wide-housing-shortage-csrs-ross-sindel/2012052154769">CSR chief executive Rob Sindel</a> rejected the notion that Australia is suffering from a nationwide housing shortage – he says there are shortages in certain places such as NSW, south-east Queensland and WA.
The top 30 list compiled by the HIA is dominated by WA, which makes up half (15) of the local government areas with the most chronic undersupply of homes, followed by Queensland (7), NT (3), Victoria (3) with one each in NSW and South Australia.
Manjimup needs almost an additional four dwellings (3.94) for every 100 people in the town, which has a population of just over 10,000 – or 399 dwellings, according to the HIA.
The agricultural rich lands of Manjimup (it also home to the pink lady apple) are just ahead of the more arid municipality of Palmerston (3.93 dwellings required for every 100 people), the planned satellite city next to Darwin followed by the WA town of Geraldton, 430 kilometres north of Perth, a beneficiary of the mining boom where a major iron ore terminal is located. Geraldton has a dwelling shortage of 791 for its 21,000 population.
The median house price in Manjimup is $265,000, according to Australian Property Monitors.
A kilogram of Manjimup truffles is worth around $2,000 – last season the biggest truffle unearthed weighed 348 grams.
Manjimup truffles are sought as far afield as Manhattan restaurants and in eateries in France and Germany, with truffle season running for three months from June until September.
According to realestate.com.au, there are 248 Manjimup properties for sale, including <a href="https://www.realestate.com.au/property-mixed+farming-wa-manjimup-7324305">this 55-hectare farm featuring a three bedroom residence</a>. Listed for sale by Rodney Musulin of Primaries Real Estate for $970,000, it is “ideal for most horticulture pursuits, including highly prized truffles and avocados”.
<img src="/images/stories/truff.jpg" width="470">
The list includes two suburbs close to the Perth CBD – Subiaco, which ranks sixth on the list with a shortage intensity of 3.383 and 611 homes, and eight-placed South Perth, with a shortage intensity of 3.048 and 1,386 homes.
In absolute terms, Joondalup, about 16 kilometres north of Perth has the highest shortage of houses at 3,955 a shortage intensity of 2.38 houses for every 100 people.
Top 30 LGA government areas where a housing shortage exists
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="151">
LGA
</td>
<td valign="top" width="83">
State
</td>
<td valign="top" width="93">
Dwelling shortage
</td>
<td valign="top" width="99">
Population
</td>
<td valign="top" width="97">
Median house price
</td>
<td valign="top" width="93">
Shortage intensity
</td>
</tr>
<tr>
<td valign="top" width="151">
Manjimup
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
399
</td>
<td valign="top" width="99">
10,126
</td>
<td valign="top" width="97">
$265,000
</td>
<td valign="top" width="93">
3.94
</td>
</tr>
<tr>
<td valign="top" width="151">
Palmerston
</td>
<td valign="top" width="83">
NT
</td>
<td valign="top" width="93">
1,268
</td>
<td valign="top" width="99">
32,285
</td>
<td valign="top" width="97">
$465,000
</td>
<td valign="top" width="93">
3.928
</td>
</tr>
<tr>
<td valign="top" width="151">
Geraldton
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
791
</td>
<td valign="top" width="99">
21,361
</td>
<td valign="top" width="97">
$280,000
</td>
<td valign="top" width="93">
3.703
</td>
</tr>
<tr>
<td valign="top" width="151">
Litchfield
</td>
<td valign="top" width="83">
NT
</td>
<td valign="top" width="93">
753
</td>
<td valign="top" width="99">
20,389
</td>
<td valign="top" width="97">
$571,000
</td>
<td valign="top" width="93">
3.693
</td>
</tr>
<tr>
<td valign="top" width="151">
Darwin
</td>
<td valign="top" width="83">
NT
</td>
<td valign="top" width="93">
2,684
</td>
<td valign="top" width="99">
79,338
</td>
<td valign="top" width="97">
$550,000
</td>
<td valign="top" width="93">
3.383
</td>
</tr>
<tr>
<td valign="top" width="151">
Subiaco
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
611
</td>
<td valign="top" width="99">
19,674
</td>
<td valign="top" width="97">
$970,000
</td>
<td valign="top" width="93">
3.106
</td>
</tr>
<tr>
<td valign="top" width="151">
Bunbury
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
1,087
</td>
<td valign="top" width="99">
35,614
</td>
<td valign="top" width="97">
$340,000
</td>
<td valign="top" width="93">
3.052
</td>
</tr>
<tr>
<td valign="top" width="151">
South Perth
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
1,386
</td>
<td valign="top" width="99">
45,469
</td>
<td valign="top" width="97">
$727,000
</td>
<td valign="top" width="93">
3.048
</td>
</tr>
<tr>
<td valign="top" width="151">
Claremont
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
303
</td>
<td valign="top" width="99">
10,065
</td>
<td valign="top" width="97">
$1.2 m
</td>
<td valign="top" width="93">
3.010
</td>
</tr>
<tr>
<td valign="top" width="151">
Kalgoorlie/Boulder
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
968
</td>
<td valign="top" width="99">
33,319
</td>
<td valign="top" width="97">
$319,000
</td>
<td valign="top" width="93">
2.905
</td>
</tr>
<tr>
<td valign="top" width="151">
North Burnett
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
311
</td>
<td valign="top" width="99">
10,839
</td>
<td valign="top" width="97">
$150,000
</td>
<td valign="top" width="93">
2.869
</td>
</tr>
<tr>
<td valign="top" width="151">
Banana
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
427
</td>
<td valign="top" width="99">
15,542
</td>
<td valign="top" width="97">
$270,000
</td>
<td valign="top" width="93">
2.747
</td>
</tr>
<tr>
<td valign="top" width="151">
Melville
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
2,835
</td>
<td valign="top" width="99">
103,687
</td>
<td valign="top" width="97">
$670,000
</td>
<td valign="top" width="93">
2.734
</td>
</tr>
<tr>
<td valign="top" width="151">
Fremantle
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
785
</td>
<td valign="top" width="99">
29,318
</td>
<td valign="top" width="97">
$640,000
</td>
<td valign="top" width="93">
2.678
</td>
</tr>
<tr>
<td valign="top" width="151">
Broome
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
448
</td>
<td valign="top" width="99">
17,081
</td>
<td valign="top" width="97">
$675,000
</td>
<td valign="top" width="93">
2.623
</td>
</tr>
<tr>
<td valign="top" width="151">
Mundaring
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
1,021
</td>
<td valign="top" width="99">
39,753
</td>
<td valign="top" width="97">
$450,000
</td>
<td valign="top" width="93">
2.568
</td>
</tr>
<tr>
<td valign="top" width="151">
Northern Grampians
</td>
<td valign="top" width="83">
Vic
</td>
<td valign="top" width="93">
309
</td>
<td valign="top" width="99">
12,158
</td>
<td valign="top" width="97">
$150,000
</td>
<td valign="top" width="93">
2.542
</td>
</tr>
<tr>
<td valign="top" width="151">
Gannawarra
</td>
<td valign="top" width="83">
Vic
</td>
<td valign="top" width="93">
292
</td>
<td valign="top" width="99">
11,522
</td>
<td valign="top" width="97">
$153,000
</td>
<td valign="top" width="93">
2.538
</td>
</tr>
<tr>
<td valign="top" width="151">
Mount Isa
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
563
</td>
<td valign="top" width="99">
22,186
</td>
<td valign="top" width="97">
$349,000
</td>
<td valign="top" width="93">
2.534
</td>
</tr>
<tr>
<td valign="top" width="151">
Western Downs
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
818
</td>
<td valign="top" width="99">
32,727
</td>
<td valign="top" width="97">
$295,000
</td>
<td valign="top" width="93">
2.499
</td>
</tr>
<tr>
<td valign="top" width="151">
Hinchinbrook
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
298
</td>
<td valign="top" width="99">
12,240
</td>
<td valign="top" width="97">
$255,000
</td>
<td valign="top" width="93">
2.435
</td>
</tr>
<tr>
<td valign="top" width="151">
Albany
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
904
</td>
<td valign="top" width="99">
37,207
</td>
<td valign="top" width="97">
$375,000
</td>
<td valign="top" width="93">
2.430
</td>
</tr>
<tr>
<td valign="top" width="151">
Cambridge
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
667
</td>
<td valign="top" width="99">
27,552
</td>
<td valign="top" width="97">
$1.01m
</td>
<td valign="top" width="93">
2.421
</td>
</tr>
<tr>
<td valign="top" width="151">
Central Goldfields
</td>
<td valign="top" width="83">
Vic
</td>
<td valign="top" width="93">
308
</td>
<td valign="top" width="99">
12,854
</td>
<td valign="top" width="97">
$185,000
</td>
<td valign="top" width="93">
2.396
</td>
</tr>
<tr>
<td valign="top" width="151">
Berri &amp; Barmera
</td>
<td valign="top" width="83">
SA
</td>
<td valign="top" width="93">
268
</td>
<td valign="top" width="99">
11,259
</td>
<td valign="top" width="97">
$187,500
</td>
<td valign="top" width="93">
2.380
</td>
</tr>
<tr>
<td valign="top" width="151">
Joondalup
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
3,995
</td>
<td valign="top" width="99">
166,370
</td>
<td valign="top" width="97">
$525,000
</td>
<td valign="top" width="93">
2.377
</td>
</tr>
<tr>
<td valign="top" width="151">
Eurobodalla
</td>
<td valign="top" width="83">
NSW
</td>
<td valign="top" width="93">
915
</td>
<td valign="top" width="99">
38,607
</td>
<td valign="top" width="97">
$350,000
</td>
<td valign="top" width="93">
2.370
</td>
</tr>
<tr>
<td valign="top" width="151">
Scenic Rim
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
955
</td>
<td valign="top" width="99">
40,304
</td>
<td valign="top" width="97">
$390,500
</td>
<td valign="top" width="93">
2.369
</td>
</tr>
<tr>
<td valign="top" width="151">
Goondiwindi
</td>
<td valign="top" width="83">
Qld
</td>
<td valign="top" width="93">
274
</td>
<td valign="top" width="99">
11,646
</td>
<td valign="top" width="97">
$261,250
</td>
<td valign="top" width="93">
2.353
</td>
</tr>
<tr>
<td valign="top" width="151">
Vincent
</td>
<td valign="top" width="83">
WA
</td>
<td valign="top" width="93">
758
</td>
<td valign="top" width="99">
32,228
</td>
<td valign="top" width="97">
$600,000
</td>
<td valign="top" width="93">
2.352
</td>
</tr>
</tbody></table>
Source: HIA, median house prices provided by APM.
 
 
 
 
 
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Australia’s truffle capital, Manjimup, WA, has mushrooming housing shortage: HIA

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Western Australian Treasurer and Attorney-General Christian Porter says a flat housing market has cost the state government an estimated $836 million in projected stamp duty over the next four years.
In his budget speech to Parliament he said “transfer duty forecasts in this budget have been revised down by $836 million, reflecting ongoing weakness in the housing market”.
Porter told Fairfax Media house buyers were waiting for the market to bottom out.
“You would hope that it would improve, but right now there is not movement,” he said.
“Buyers still think that the bubble that burst after 2005 and 2006’s extraordinary growth has not yet quite reached the bottom.”
Budget papers show transfer duty was about $1.2 billion for both 2010-11 and 2011-12, a figure expected to go up 17.7% to $1.45 billion for 2012-13. The government predicts a 17.7% rise to $1.45 billion next year, with the start of a recovery in the market.
The budget Porter presented says transfer volumes has been low in recent years but is expected to improve.
“Housing transfer duty has suffered from weak established housing transaction volumes and house prices in recent years, with average monthly transactions since 2008-09 around  35% lower than the previous four years.”
“However, transfer duty is expected to improve over coming years in line with a forecast recovery in housing demand.”
In the budget, Porter concedes the estimate for actual income from stamp duty may change.
“Property transactions are highly susceptible to fluctuations in market sentiment and are therefore highly volatile and difficult to forecast.”
“The current transfer duty forecasts are balanced against the risk of continued weakness in the housing market and the risk that market sentiment could quickly change and cause  a faster than expected recovery in transaction volumes,” he says.
In the budget he says property transaction volumes are expected to improve along with a modest increase in residential property prices.
“Transaction volumes are expected to move toward a long-run trend over the forecast period, while residential property prices are forecast to increase at a modest rate broadly in line with the expected growth in incomes (of around 5-6% per annum).”
Porter expects in four years, transfer duties will be at lower levels than before the global financial crisis.
Despite the fall in revenue Porter has kept stamp duty concessions for first-home buyers. The concession waives duty on properties under $500,000.
REIWA president David Airey says the concession is needed to support the housing market. He says first-time buyers are one of the few groups active in the current market.
“I’m pleased to see the government has retained its stamp duty concession for first-home buyers, because this has been successful in maintaining first-home buyers at around 25 to 27% of the market over the past 12 months,” he says.
“The importance of the stamp duty concession for first home-buyers in the modest market recovery currently being experienced cannot be underestimated.
“REIWA analysis of the budget papers indicates that, as usual, property buyers will carry much of the burden of the shortfall in GST revenues as the government, by not indexing thresholds, reaps the windfall gain from projected price and sales volume increases.”
He says he is disappointed there are no stamp duty concessions for older citizens looking to downsize their housing, saying it’s a lost opportunity to free up housing capacity at a time when supply is tight.
He says the Perth rental market is under enormous pressure caused by a growing population, low vacancy rates and increasing rents.
The government has committed $130 million towards construction of social housing dwellings over the next two years.
Western Australian Council of Social Services CEO Irina Cattalini welcomed the construction investment but says it falls short of demand.
"While the housing initiatives are welcome, the overall investment in social housing will not do enough to reduce the time people are stuck on the social housing waiting list – which has grown from 113 weeks last financial year and will continue to increase to 134 weeks in 2012-13," Cattalini told Perth Now.
 
 
 
 
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