<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

First Home Buyers

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AVJennings has kicked in an extra $5000 incentive for first home buyers who purchase in any of its Queensland residential developments until 18 May.
This is on top of Queensland's $20,000 First Home Owner's Grant which is reduced to $15,000 on 1 July.
Tony Creighton, Queensland sales manager, AVJennings, said the ability to couple both the state government and developer first home buyer incentives, together with the release of the popular loft-style ‘Fusine’ townhome at Villaggio, was expected to spark an increase in first time purchaser enquiries.
"We want first home buyers to consider their options and realise that purchasing an AVJennings property before June 30 means they can potentially gain an additional $10,000 towards their new home," he said.
"There are also options for those who haven't saved a full deposit to get into the market with a savings plan, whereby the customer can secure a new home and continue to save their full deposit while waiting for their property to be built.
"We have affordable, entry-level townhomes available in the majority of our communities throughout South-East Queensland.
"But our most popular design for first home buyers - the Fusine - is now selling at Villaggio in Richlands, which is a fast growing area just 15 kilometres west of Brisbane.
"Essentially, the Fusine is much like a free standing two-bedroom apartment, with a single lock up garage on the ground floor, connected by an internal staircase to the upper level, which includes the bedrooms and living areas.
"The Fusine boasts 90.7sqm of living space and has been designed for comfort and privacy, with the two bedrooms separated by an open-plan living area.
"This architecturally designed home is completed with high quality finishes, split system air-conditioning and a modern kitchen with European stainless steel appliances, opening on to a generous private balcony perfect for entertaining at home.
"It's the ideal first home or investment property."
For further information visit <a href="https://www.avjennings.com.au" target="_blank">www.avjennings.com.au</a>
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j.ballantyne1990-6AQqhLzZaK

AVJennings kicks in $5000 incentive for Queensland first home buyers

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First time buyers remain a relatively small component of mortgage demand, according to CoreLogic’s latest report.
The property data firm says that Western Australia has the highest percentage of first home buyers of the mortgage demand.
New South Wales has the lowest percentage with first home buyers accounting only 8% of the mortgage demand.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%202.18.52%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/27/Screen%20Shot%202017-02-27%20at%202.18.52%20pm.jpg" alt="">
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First Home Buyer demand strong in Western Australia: CoreLogic

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The most recent ABS Survey of Income and Housing 2013–14 reveals that households buying their first home are older than they were over a decade ago, according to AHURI's recent brief.
In 2000–01 over 60 percent of first home buyers were aged between 25 and 34 years old, by 2013–14 that had dropped, with just under half (49.6 percent) of first home buyers being between 25 and 34 years old.
<a href="https://www.propertyobserver.com.au/images/2017/02/21/Screen%20Shot%202017-02-21%20at%204.57.38%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/21/Screen%20Shot%202017-02-21%20at%204.57.38%20pm.jpg" alt="">
This indicates that households are delaying buying a home, which in turn could mean they are still paying off their home when they reach retirement age.
Indeed, as other ABS Housing Occupancy and Costs data shows, the proportion of households aged 65 and over still paying off their mortgage has more than doubled, having risen from 3.6 per cent of all households aged 65 and over in 2000–01 to 8.2 per cent in 2013–14.
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Australians buying their first home at an older age: AHURI

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Local government areas just beyond the Melbourne metropolitan area are increasingly attracting the attention of home buyers and investors.
The big attractions are relatively low prices, a more relaxed lifestyle and the ability to commute to city jobs nodes.
The standout areas are Cardinia Shire in the far south-east and both Mitchell Shire and Macedon Ranges Shire north of the capital city. Sales activity has increased significantly in all three LGAs in the past 12 months.
Of course the LGA just beyond Melbourne with the strongest market is the City of Greater Geelong, which continues to be unchallenged as the clear market leader in regional Victoria – and one of the strongest markets nationwide.
Hotspotting research for the new Autumn edition of The Price Predictor Index finds that the Geelong LGA has seven rising markets, as well as 13 steady markets, which outranks most of the LGAs in metropolitan Melbourne.
Markets doing well in the Geelong region include Norlane, Armstrong Creek, Belmont, Clifton Springs, Geelong West, Newcomb and Waurn Ponds.
Most of the busiest locations in Greater Geelong are locations at the affordable end of the market, reinforcing the region’s appeal as a cheaper lifestyle alternative to Melbourne.
But, Geelong aside, there are a number of municipalities just outside the Melbourne metropolitan area have rising markets because they, too, provide affordable lifestyle options within reasonable commuting distance of city jobs nodes.
The Shire of Cardinia is a neighbour of the City of Casey, one of Melbourne’s strongest population growth areas in the far south-east of the metropolitan area. It includes towns such as Pakenham and Officer which are getting spill-over growth and have steadily growing property markets.
Sales in Pakenham have been 215, 253, 277 and 290 in the past four quarters, while Officer sales have grown from 23 to 40 to 49 to 55 in the same time frame.
The Macedon Ranges and Mitchell LGAs are rural areas north of Melbourne and are attracting growing attention for their affordable country towns with good road and rail links to the city.
Sales activity is rising in towns like Kilmore and Wallan in Mitchell Shire and Gisborne and Kyneton in the Macedon Ranges LGA.
Median prices include $330,000 in Kilmore, $240,000 in Seymour, $280,000 in Broadford and $360,000 in Wallan, which emphasises the affordability attraction. Another part of the appeal is median rental yields in the 5 percent to 5.5 percent range.
Larger Victorian regional centres like Bendigo and Ballarat continue to present steady real estate markets, without delivering any substantial growth. Both these cities have more suburbs with steady sales activity and solid performance than those with growing activity.
There are plenty of solid regional centres with similar stories throughout the rest of the state - including Warrnambool, Mildura, Wodonga, Sale Echuca and Wangaratta – but there is nothing in the sales numbers to suggest strong price growth in the near future.
Mildura features on our National Top 50 list for highly consistent markets. Every quarter for the past two years has recorded between 205 and 235 dwelling sales in Mildura.
But the growth markets in regional Victoria are generally found among the smaller centres.
Smaller regional centres with growing sales activity – in addition to the towns of Mitchell Shire and Macedon Ranges Shire - include Ararat, Bacchus Marsh, Bairnsdale, Bannockburn, Castlemaine, Colac, Portland and Traralgon.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

City of Greater Geelong one of the strongest markets nationwide

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Entry level properties in Sydney’s eastern suburbs are generally limited to units with former industrial areas and unused sites with development, according to HTW’s Month in Review: March 2017. 
The valuation firm says Sydney’s eastern suburbs market is a more difficult market for first home buyers to enter due to its desired proximity to the CBD and beaches, therefore attracting higher prices.
“Modern one bedroom units in the $650,000 to $1 million price range can be purchased throughout suburbs such as Little Bay, Botany/ Mascot, Rosebery/Zetland and Waterloo,” the firm says.
“Older style units can also be purchased in this price bracket however the first home buyers grant and stamp duty saving does not apply.”
The report says the inner west market attracts significant interest since the construction and completion of the light rail project contributing to price rises.
Entry level units may be easier to come by compared to some parts of the eastern suburbs, it suggests.
“Older style one and two bedroom units in Dulwich Hill, Marrickville and Petersham can be purchased for $600,000 to $750,000,” HTW says.
“Unit development in the Bankstown, Punchbowl and Lakemba corridor has increased significantly and this has seen units available at relatively affordable prices between $500,000 to $700,000 for new one, two and three bedroom units.
“Bankstown is positioned 20 kilometres from Sydney CBD and the train service will get a commuter into the city in less than 40 minutes.”
A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-mascot-124658518" target="_blank">256/3-9 Church Avenue</a>, Mascot (above) is listed with a price guide of $770,000.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-zetland-124880978" target="_blank">61/5B Victoria Park Parade</a>, Zetland is listed for between $700,000 to $770,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/09/61_5B%20Victoria%20Park%20Parade.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-marrickville-124888542" target="_blank">2/169 Livingstone Road</a>, Marrickville (below) has been listed with a buyers guide of $710,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/21/2_169%20Livingstone%20Road.jpg" alt="">
Similarly a two bedroom unit at<a href="https://www.realestate.com.au/property-apartment-nsw-dulwich+hill-124997126" target="_blank"> 3/6 Pigott Street</a>, Dulwich Hill (below) has been listed for $699,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/21/3_6%20Pigott%20Street.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Sydney first time buyers should ignore the east and head to inner west: HTW

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Over recent years the level of investor participation in the national housing market has hit historic high levels and at the same time, housing finance commitments to owner occupier first time buyers has shrunk. 
As an example, January 2017 housing finance data shows that based on the total value of housing finance commitments, a record-low 7.1% of commitments were to owner occupier first home buyers while 39.0% of the value of all commitments were to investors.
Click to enlarge
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/chart-1-2.jpg" alt="">
The above chart looks at the proportion of the total value of housing finance commitments going to owner occupier first home buyers and investors nationally.  As the level of lending to investors has increased over recent years it has done so at the expense of owner occupier first home buyers. 
Except for briefly in 1992, investors have consistently outweighed owner occupier first home buyers in terms of housing finance demand.  The only time first home buyer lending has got close to that of investors was in 2008 and 2009 during the financial crisis. 
At that time, investors were fearful and first home buyers were receiving substantial stimulus from the Federal Government which led to heightened housing demand to those that don’t already own property.
It is a similar story surrounding first home buyer activity being much lower than that of investors across the individual states and territories.  Furthermore, in 2008 and 2009 the combination of stimulus and investor caution resulted in a lift of first home buyer activity at the expense of investors. 
The data here has been paired between housing finance and lending finance data.  We have multiplied the average first home buyer loan size by their number of loans to determine the value of first home buyer loans and taken the investor loan data from lending finance.  Note that the following figures include refinances.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/chart-2-3.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/chart-2-3.jpg" alt="">
In January 2017, an historic low 3.4% of all housing finance commitments in New South Wales were to owner occupier first home buyers compared to 46.9% of total lending to investors. 
The 46.9% of housing finance commitments to investors was their highest level since July 2015.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/chart-3-3.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/chart-3-3.jpg" alt="">
Victorian investors accounted for 37.5% of the total value of housing finance commitments in January 2017 compared to 7.7% of the total value to owner occupier first home buyers.  The level of activity from first home buyers is currently at an historic low level while investor participation is sitting at levels not seen since July 2015.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/chart-4-3.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/chart-4-3.jpg" alt="">
Owner occupier first home buyers are more active in Queensland than they are in New South Wales or Victoria however, they still only accounted for 10.8% of the value of housing commitments in January 2017 compared to investors accounting for 31.6%.  Housing affordability has not deteriorated in Queensland to the extent it has in New South Wales and Victoria however, first home buyers continue to be well and truly outnumbered by investors.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-5-2.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-8414" src="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-5-2.jpg" alt="" width="1685" height="596">
In January 2017, owner occupier first home buyers in South Australia accounted for 6.9% of the value of housing finance commitments compared to investors accounting for 30.1%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-6-1.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-8415" src="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-6-1.jpg" alt="" width="1687" height="599">
Owner occupier first home buyers in Western Australia accounted for 14.3% of the total value of housing finance commitments in January 2017 compared to investors that accounted for 27.3%.  Dwelling values are falling across most regions of the state and investor borrowing still far outweighs first home buyers. You would think that falling prices would scare investors away from purchasing and create an opportunity for first home buyers but that hasn’t really occurred in Western Australia over the past few years.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-7.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-8416" src="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-7.jpg" alt="" width="1688" height="603">
In January 2017, owner occupier first home buyers in Tasmania accounted for 10.3% of total housing finance commitments compared to investors that accounted for 27.6%.  The proportion of lending to investors in Tasmania is at its highest level since April 2015.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-8.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-8417" src="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-8.jpg" alt="" width="1706" height="603">
Northern Territory investors accounted for 38.8% of the value of all housing finance commitments in January 2017 compared to owner occupier first home buyers who accounted for 8.3%.  Despite the fact that dwelling values are falling across most of the Northern Territory, fist home buyer volumes remain low and investors remain quite active.  This is probably due to the fact that in Darwin in particular, the population tends to be more transient than in other parts of the country.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-9.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-8418" src="https://blog.corelogic.com.au/wp-content/uploads/2017/03/chart-9.jpg" alt="" width="1687" height="602">
Across the Australian Capital Territory in January 2017, 9.1% of the total value of housing finance commitments was to owner occupier first home buyers compared to 35.5% to investors.
The national and individual state and territory data shows that historically the only way to substantially boost first home buyer participation has been at the expense of investors, as occurred in 2008/09.  At the time this didn’t occur through a policy specifically targeted at slowing investor demand it happened more so organically due to significant first home buyer stimulus and investor fears at the time.  Keep in mind that these policy choices also led to, in certain areas, a substantial increase in dwelling values.
Including in 2008/09, investors have consistently outweighed owner occupier first home buyers in terms of new mortgage borrowing. 
This shouldn’t really surprise anyone given that most investors already have a residential property asset and many of which use at least a portion of the equity in that asset to fund the investment.  First home buyers don’t have the existing foothold in the housing market and are always going to find it difficult to compete with borrowers that already have assets and equity. 
Unfortunately the ABS does not publish data on the number of loans to investors so we can’t see a true picture of loans written rather just the value lent.  Keep I mind that investors that already own homes generally have the ability to borrow more than first home buyers and in-turn may typically take out larger loans than first home buyers.
Based on the data is seems that the way to get more first home buyers entering into the market is to do it at the expense of investors.  If you can increase purchasing by first home buyers there will be, at least initially, less demand for rental accommodation. 
Longer-term though, the population grows and people age so deterring investment may have greater repercussions for the housing market. Keep in mind though that heightened housing market activity from first home buyers that don’t own housing assets and have no housing equity may actually create more instability in the housing market.
There is no easy fix to encourage higher levels of housing market participation from first home buyers but the data indicates a heightened level of activity from this market segment is most likely to occur via a reduction in demand from the investor segment.   While people that don’t already own homes may see this as a great solution we should be cautious as it may have larger long-term effects on housing supply and housing market stability. 
I don’t believe that the balance between first home buyers and investors is currently right and we should look at ways to cool some of the market’s current investment exuberance but we should also be cautious about encouraging excess demand from first home buyers who may find it more difficult to repay mortgages once interest rates start to increase.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

Investors historically outweigh first home buyers but gap widens: Cameron Kusher

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Following the Victorian government’s announcement of stamp duty cuts for first-home buyers, developers and builders are covering stamp duty for their FHB customers to avoid a lull in the market ahead of the tax cut later this year. 
First home buyers can save stamp duty – up to $15,000 – on a string of Victorian apartment projects and house and land packages, well ahead of the government-announced measures that take effect from July 1, according to a report by Fairfax Media.
The Andrews government had announced recently that stamp duty would be waived for first-home buyers for properties up to $600,000 in the new financial year, while shutting out investors in its move to battle the affordability crisis.
The new move has had mixed reactions from the industry as the tax cuts could skew the advantage towards projects targeted for first home buyers rather than investors.
In reaction, many investor-driven developers are moving their project release dates forward in order to to capture investor dollars before the tax cut is removed, Fairfax Media reported. 
For those developers and builders who have a large portion of their projects tied to the first-home buyer segment, the July 1 date presented a potential lull in the market.
Some newly-released developments saw an immediate drop in enquiries from first timers.
Porter Davis, which will pay the stamp duty for Victorian first home buyers who use the builder for land contracts, brought forward marketing plans to target first-home buyers by several months so it could ride the wave of interest generated by the announcements.
Paul Wolff,sales and marketing director said he was fearful that people were going to delay their decision.
“We bought a campaign forward on the back of the hype and leveraging from the government’s media on [the idea of], ‘how does first home ownership happen sooner rather than later?”
"Given how quickly land prices were rising, those who waited until July 1 may have lost more than they saved on the tax cut."
He also said he would retrospectively apply the saving to any first-home buyers who purchased land after October 31 last year and would match the figure if a buyer also received the stamp duty cut from their developer.
Developers of Richmond’s Supply &amp; Co. are offering stamp duty savings even more broadly. All owner-occupier buyers can get the savings, as well as 5 percent deposits, on the David Street project.
Beller Real Estate’s Heath Thompson, the agent selling Supply &amp; Co. development, said the offer was a way to make the apartments attainable for first home buyers, who may be beaten investors keen to jump on the tax dodge before it ends.
“Investors have an increased appetite to purchase prior to 30th June,” Thompson said. “But first-home buyers may actually miss out because they think ‘we’ll wait’.”
He said the changes to the tax will undoubtedly put more roadblocks in the way for investors, who were already facing stricter lending conditions.
Developer OpenCorp, the team behind The Eastside Village in Hawthorn East, will also cover stamp duty for all buyers for the next few months and developer Growland will also waive the tax on their Victoria Square (previously Joseph Place) project in Footscray.
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prateek24-ezbwHMbNAk

Developers cover stamp duty for first home buyers ahead of Victoria tax cuts

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Tamworth is seeing a lot of first time buyers in both the owner-occupier and investor sectors in comparison to other cities, according to HTW’s Month in Review: March 2017. 
The valuation firm says the $250,000 to $350,000 range is the most active for these buyers, with many choosing to buy within established suburbs and renovating older dwellings.
Outside of this range the buyers are choosing to build rather then buy.
“The incentives offered (ie. no stamp duty, $10,000 grant) mean they will save money when compared to buying a house of a similar calibre,” the report says.
“There is strong evidence of young people buying in Tamworth, particularly building homes, who come from Sydney and as they cannot afford to buy there.”
HTW advises buyers to choose their location very carefully.
“While prices in several suburbs can be very enticing for young buyers, ie. less then $200,000, these areas experience little to no capital growth and are not a good long term investment,” it says.
“Parts of west Tamworth and south Tamworth should be avoided as they have a strong housing commission population and historically experience very little growth when compared to non housing commission areas within the same suburb.
“The mistakes we are seeing include going too big too soon, with many first time buyers who choose to build trying to build their ‘forever home’ and placing themselves in a situation where they struggle with mortgage affordability.
“With the affordable options of Tamworth it is best to research and remember that this house will most likely not be a forever home for them, so spending $700,000 on a first home in the best suburb is not needed.”
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-124623126" target="_blank">357 Armidale Road</a>, Tamworth (above) has been listed for between $330,000 to $350,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-124859686" target="_blank">14 Aberdeen Street</a>, Tamworth (below) has been listed for $270,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/09/14%20Aberdeen%20Street.jpg" alt="">
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Tamworth seeing influx of first time buyers from Sydney

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GUEST OBSERVER
Dear Young People, Malcolm Turnbull and Bill Shorten, Daniel Andrews and Matthew Guy.
Please consider younger homebuyers getting access to their super funds, to help them buy a home – please help young homebuyers level up the playing field.
Please don’t say the super idea will start in 2025 – say it will start now – as the time for having children may pass some by during this time.
Granted, it will add a bit more fuel to the market fire – but is that a fair-go reason, not to help young people get onto a level playing field?
It's not a level playing field - Reason 1
When I, as a 57-year-old tax payer can go to an Inner Melbourne auction for $1 million and it cost me $20,000 of my income to buy it – YET for a young homebuyer it costs them $80,000 of their income to buy that same home. It’s not fair. This is not a level playing field.
Is the market out of control, dangerous or is it doing what it should?
“Beggars belief – Defies logic – Unsustainable”
These are the headlines that in part, are being attached to the reasons why we should not help YOUNG PEOPLE with access to their super.
Can I ask why the authors of these headlines say this about the Inner Melbourne market?
What do they mean – what beggars belief in their mind?
That more and more people are wanting to come to Inner Melbourne?
That for all it’s internally recognised faults; Melbourne is seen externally as one of the truly great places in the world to bring up a family.
That political stability, business opportunities, an overarching community attitude of fair play, jobs, education, pollution, gun laws, health system, labour protections and………. are on the tick-off list of almost all skilled migrants in this world.
Why does our strong Inner Melbourne housing market, beggar belief?
Do the economists, bankers and other business people who are saying this, not believe in this century’s old economic demand and supply thesis.
<a href="https://marketnews.com.au/wp-content/uploads/DandS-260x195.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-medium wp-image-59674" src="https://marketnews.com.au/wp-content/uploads/DandS-260x195.jpg" alt="DandS" width="260" height="195">
What “defies logic” about the current Inner Melbourne housing and land market?
False assumptions or different perceptions
In a country, that for decades has been focused on “low fat”, only to become one of the obese nations of the world.
Is it defying logic to think that if we put more calories in (population), than we can exercise out (land), then our bellies will not explode (prices)?
It's not a level playing field - Reason 2
This government supported graphic below, is the Inner Melbourne home market price obesity issue.
This is another of the structural community decisions, that we as older people have made, that are impacting young people.
It’s great for us!
Our asset values go up; but it’s very difficult for young people who do not have housing assets.
<a href="https://marketnews.com.au/wp-content/uploads/VIF.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-59891" src="https://marketnews.com.au/wp-content/uploads/VIF.jpg" alt="VIF" width="299" height="205">
The true Inner Melbourne market price obesity issue is population and the lack of discussion we have around the actual number, rather than the issues.
Are the above population figures acceptable or not – are they sustainable or not?
Yes a falling population has different issues – look at Japan.
However Inner Melbourne doesn’t have a falling population issue – we have the opposite.
So are we really in some unexplainable pricing bubble, so bad that we can’t help YOUNG people because the market is “dangerous”?
Or are we in a normal, but strong market explained by limited supply (land) and increasing demand (population); which affects young people UNFAIRLY because of structural inequities around negative gearing, skilled migration, overseas investment and so on.
One final world about unsustainability of the market, before we get back to young people – young sub-million homebuyers.
These days we are all talking about “unsustainable.”
We seem to be focused on “unsustainable” pricing, rather than our “unsustainable” society as a whole?
In 2030 when your children’s children (grandkids) are 2-3 hours away in Albury or Bendigo, because of housing affordability inequities; or you can’t get an ambulance driver or a teacher, because they can’t find housing in your local area – is that the unsustainable bit you should be talking about or is it pricing?
We live in a society with some issues, but compared to many in the world right now, Inner Melbourne is one of the great pluralistic societies.
We have many obsessions like footy and food and housing AND population growth.
And as our population grows, I’m with the well known economist from Toy Story, Buzz Lightyear who says the Inner Melbourne housing market will, without a change in circumstance, continue to rise, with a few interruptions, ’till infinity and beyond.
Of course there will be hiccups and of course those that cry wolf often enough about doom and gloom, will eventually be right – but in the longer term are we really in so much trouble, that we can’t help young people?
Possibly when an assistant at the Reserve Bank or a leader of business says we are in danger, they are doing so for altruistic reasons to make people think, or they are under the boss’s riding instructions to “hose the market down” – BUT – when those statements are not attached with an additional explanation like – you still can buy a home only have a buffer for interests rate increases, then are those well meaning “expert” comments all that helpful?
Especially when all they usually hose down are the inexperienced homebuyers like the Youngies, who are nervous, in need of permanent housing and are already up against it.
If you believe in demand and supply, then possibly our Inner Melbourne market is not dangerous and we are in nothing more than a strong market.
Which brings us back to the young people in our society.
The young people's housing issue, in our opinion, should be addressed – it will not go away by osmosis AND it is UNFAIR.
Which brings us back to young people and their superannuation funds.
This could be a bloody good idea to level up the playing field for not us oldies, but for young people.
Young people don’t need special treatment; they just need a releveling of a very unlevel and UNFAIR playing field.
I will repeat – with my tax advantages as a 57-year-old tax payer I can go to an Inner Melbourne auction for $1 million and it cost me $20,000 of my income to buy it – YET for a young homebuyer it costs them $80,000 of their income to buy that same home, then that is UNFAIR.
As well, my deposit can come from the increase in my current home value for which I have done little – except make a few smart decisions over the last few decades – before many young people were born.
That possibly is unfair (but maybe not). My point – a young person’s deposit is so, so much harder to get – super could help.
<img class="aligncenter size-large wp-image-60071" src="https://marketnews.com.au/wp-content/uploads/49896-93WellingtonStreetKEW-3-597x447.jpg" alt="49896-93WellingtonStreetKEW-3" width="597" height="447">
Overseas skilled migration and overseas investors. With tax and other structural advantages, Xiou Lin from Beijing or Peter Pepper from the US, can buy that same Australian $1 million home with a myriad of interest rate and currency advantages over a local young homebuyer.
And please financial planners, bankers and so on – please don’t start telling us that young people’s money is better tied up in one of your funds, rather than good land content, near rail with a workable floor plan.
Please don’t do that without declaring your conflicts as well and showing us the stats that actually evidences that theory may have a scintilla of historical truth.
Young people, young Australians of all cultural backgrounds and religions are being pushed out of our society by housing structural unfairness such as negative gearing, skilled migration policies, overseas investment policies and restricted infrastructure spending.
We as older people have resided over a Tax and Immigration system, with the unintended consequence of making the homebuying market very unfair for young people.
It’s not a guilt trip, I don’t feel bad, I just think we should try and level it up a bit and MAYBE SUPER (under controlled circumstances and with due regard to other issues, such as the current industry) could do that.
The past week’s media blast on how bad an idea it is to try and help young people, because it may already add to a strong housing market is a valid point BUT total baloney in the overall scheme of things for young people.
I’m no rocket scientist and therefore I don’t know if the superannuation idea will work for sure, but it seems logical and worth a try.
This and other measures should be tried or Inner Melbourne may well become a desert of walking frames, grumpy old farts, unoccupied housing and NO YOUNG PEOPLE in a few decades.
Hawthorn, Toorak and Brighton could be just one big nursing home in 2035.
Try the superannuation idea and don’t make it too hard for young people to access it.
Please Young People, Daniel Andrews, Matthew Guy, Malcolm Turnbull and Bill Shorten – give the super idea some serious consideration – it seems to makes sense in giving young people a chance to get back on the playing field, with their biggest challenge – a deposit.
Apologies about being on a high horse and I’m not wedded to the super idea, nor am I the author of the idea – I just think it’s a bloody good idea worth being positive over and worth exploring for young people AND we oldies need to recognise that the current system is unfair for Youngies – and that may not be in our best interests in a decade or so.
MAL JAMES is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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jchancellor-FAypfDUnLy

Helping young people get onto a level property playing field: Mal James 

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The prospect of allowing young people access to their superannuation for a home deposit has been previously dismissed by Malcolm Turnbull as a “thoroughly bad idea”.
But I don't think it ought be ruled out. 
It needs consideration as proposals to alter negative gearing and capital gains tax arrangements do nothing to help first-home buyers obtain their deposit.
There are some wise MPs pushing Treasurer Scott Morrison to allow indirect access to assist buyers onto the property ladder.
There are those against the plan, warning it would drive up housing prices and that allowing first-home buyers early access to super will set back a retirement income system that is still struggling to fully ­deliver. 
Ofcourse currently a household in difficulty with their mortgage has the chance to access superannuation to clear arrears sometimes, whereas a first home buyer in an otherwise good financial condition cannot temporarily access their super for a deposit.
The ­proposal was dismissed by Turnbull when floated by ­former treasurer Joe Hockey in 2015.
Financial advisor Daryl Dixon recently said the Australian government should look at the New Zealand access via KiwiSaver super accounts.
Dixon noted for many Australians without access to parental help, being granted partial or full access to their compulsory super accounts provided their best chance to obtain a deposit to gain entry to the housing market.
The New Zealand scheme sets limits on the value of the house and income of the purchasers.
Australian super funds may object to losing funds under management, but the suggestion is the use of mortgage offset account facilities provides an effective means to ensure that the money used as a house deposit is not lost to the super system.
The money invested in the offset account would remain the property of the super fund with the income from the offset account reducing the cost of servicing the mortgage.
For the government the annual cost would be limited to the loss of the 15 percent income tax that would otherwise be collected on super fund earnings.
Dixon suggested safeguards could limit use of the super fund mortgage offset account to 10 years by when inflation and mortgage repayments have built up the house owners’ equity. 
The Australian government could also look at Canada’s Home Buyer’s Plan where Canandian first home buyers can withdraw up to $25,000 from their super with funds repaid within 15 years.
Yes redirecting members super balances early in their contribution cycle will hurt the compounding effect of returns and lead to lower retirement balances. 
But Generation Y have been accruing more debt at an earlier age than any of their predecessors. With 40 percent of 18- to 35-year-olds with a study-related HECS debt, this generation are already on the back foot before they have even begun their careers.
This article first appeared in the Saturday Daily Telegraph.
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