The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Housing Affordability

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The Urban Development Institute of Australia has called on government to remove stamp duty on property and support foreign investment into residential real estate, which it says will help boost the supply of land for development and improve housing affordability.
The calls follow the release of the UDIA’s latest State of the Land Report which showed the supply of new development land jumped by 30.8% in 2014 to 50,150 new lots, up from 38,350 lots released in 2013.
UDIA National President Cameron Shephard welcomed the increase but warned governments against complacency on land supply.
“Nationally, Australia still suffers from a marked undersupply of new housing stock, caused by inadequate investment in urban infrastructure, slow planning and approvals systems, and high taxes and charges on new housing supply,” Shephard said.
“Even now, we’re still not building enough new homes to meet underlying demand.”
The UDIA has urged the federal government to:
<ul>
<li>Assist state governments with replacing stamp duty on property with other forms of taxation.</li>
<li>Provide additional funding for investment in new urban infrastructure.  </li>
<li>Link funding for state governments to their performance on key land supply measures. </li>
<li>Cease plans to shift the cost of providing the National Broadband Network to new home buyers through up front connection, network and backhaul charges.  </li>
<li>Continue to encourage foreign investment into residential real estate, by supporting Australia’s existing foreign investment policy framework.</li>
</ul>
It has also called for state and local governments to:
<ul>
<li>Reform their planning systems to increase the supply of urban land and reduce delays and uncertainty associated with zoning, planning and approvals processes.  </li>
<li>Reduce upfront charges and levies on new housing and to instead recover costs over long time frames.</li>
</ul>
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Removing stamp duty, supporting foreign investment will boost affordability: UDIA

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GUEST OBSERVATION
Whatever one’s opinion on the Intergenerational Report (IGR), it is undeniable that Australia faces challenging economic and personal realities over the next 40 years. Treasurer Joe Hockey has <a href="https://www.smh.com.au/federal-politics/political-news/intergenerational-report-joe-hockey-warns-difficult-days-lie-ahead-20150220-13jnkx" target="_blank">emphasised</a> the IGR highlights the need for Australia to respond to <a href="https://www.pc.gov.au/research/completed/ageing-australia" target="_blank">demographic changes</a>. Proposed responses include extending the average working life and increasing participation by Australian seniors.
On April 14, the Senate Economics References Committee is due to deliver its <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013" target="_blank">report on affordable housing</a>. This report is expected to highlight shortfalls in affordable and <a href="https://www.jchs.harvard.edu/research/housing_americas_older_adults" target="_blank">age-appropriate housing</a>.
These major demographic and housing issues are closely connected. The challenges they present must be tackled against a background of deteriorating economic conditions and an oversubscribed health system.
The issues the IGR raises are many and varied. They are also subject to a plethora of contingencies. However, one issue that cannot be denied is the inescapable impact – one way or another – of an ageing population on Australia’s economic future.
The danger is that the government seems to be emphasising (albeit crucial) issues such as employment and health without taking a broader view of factors, of which housing is pivotal, that will nourish and buttress these aspirations.
Housing is tied to health and productivity
If Australian seniors are to remain healthy and work longer, the importance of appropriate housing cannot be underestimated. Much attention is being paid to the rising cost of health care for an ageing population. However, the nexus between secure accommodation and better health and financial outcomes for older people, the broader community and the economy is <a href="https://whqlibdoc.who.int/publications/2008/9789241563703_eng.pdf" target="_blank">largely overlooked</a>.
If older Australians are more secure in their accommodation, they are more likely to remain employed and in good physical and psychological health. All of the consequential benefits of this flow to the economy and the nation as a whole. Therefore, improved provision of affordable senior housing is vital to enable people to remain employed into their 60s, 70s and even 80s, and thereby lift Australia’s productivity and sustain economic growth.
To pursue these goals in the IGR, the government’s attention must extend to ensuring an adequate supply of affordable and suitable housing for seniors. The population of older Australians is naturally diverse, so individual housing preferences vary significantly.
The major asset of most Australian households is the family home. For seniors, housing equity makes up approximately half of their wealth. However, <a href="https://apo.org.au/research/asset-rich-income-poor-australian-housing-wealth-and-retirement-international-context" target="_blank">research to date</a> suggests few of these households are drawing on this wealth during retirement.
Insecurity has multiple harmful impacts
For older people who do not own a home and must find affordable accommodation in a competitive market, life can be particularly daunting. As social policy researcher Bruce Bradbury <a href="https://www.sprc.unsw.edu.au/media/SPRCFile/25_sprp_41.pdf">has noted</a>: "Australia is unusual in that economic exclusion among the elderly is closely linked to a lack of home ownership (or access to public housing)."
Seniors have different housing requirements to younger people and families. Older Australians <a href="https://theconversation.com/affordable-housing-is-a-problem-for-older-australians-too-21555" target="_blank">often require</a> smaller and more accessible housing located close to services, care and support.
Transitions in later life are complex. These transitions, it has been observed: "…challenge older adults to make projections of a future self and to anticipate their emotional, medical and financial needs."
Older people who are secure in the knowledge that they can stay in their accommodation for an extended period – or permanently – exhibit demonstrably <a href="https://www.pubfacts.com/detail/19246417/Reasons-for-relocation-to-retirement-communities:-a-qualitative-study." target="_blank">better physical and psychological health</a> than those in less stable accommodation. Insecurity in one’s home environment <a href="https://www.researchgate.net/publication/231759516_Anticipating_Relocation_Coping_Strategies_and_the_Meaning_of_Home_for_Older_People">heightens the risks</a> to <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/17327545" target="_blank">physical and psychological health</a> in the short and longer term, including <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/17327545" target="_blank">feelings of powerlessness</a>.
Insecure accommodation may also impact on older people’s social situations. They may become reluctant to engage in their local communities. If they have to relocate, they may lose <a href="https://www.healthyhousing.org.nz/wp-content/uploads/2010/01/Housing-and-health-in-older-people-aging-in-place.pdf" target="_blank">support and friendship networks</a>.
The prospect of possibly having to move weighs heavily on older people. This is especially so where options for accommodation elsewhere are limited.
Finally, significant economic costs are attached to the heightened risk of physical or psychological illnesses.
Beyond the headlines, a concerted strategy for an older – but healthier and more productive – population must be crafted. A focus on secure, affordable housing for seniors is a cornerstone for any such aspirations.
Eileen Webb is professor, Faculty of Law at University of Western Australia.
Gill North is associate professor of Law at Monash University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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po-LsXgBTHBmX

Suitable, affordable housing is key to our population ageing well: Gill North & Eileen Webb

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As previously written under the article, '<a href="/expert-insights/the-property-investment-pandemic-how-to-avoid-spruikers-and-bad-advice">The property investment pandemic</a>', easy money is not the answer to affordable housing.
My view on this topic has not changed. All I see is the same pomposity from our leaders, just in a different package.
The notions proposed by our political parties; firstly, advocating <a href="https://www.smh.com.au/federal-politics/political-news/joe-hockey-flags-opening-up-super-funds-for-houses-job-training-20150307-13xwz1" target="_blank">use of super funds</a> to pay for the deposit and/or secondly, <a href="/expert-insights/investing/nsw-labor-promises-staggered-stamp-duty-for-first-home-buyers">staggered stamp duty payments</a>, is not the answer.
Easy money, contrary to popular belief, does not make housing affordable or cheaper to purchase. Utilising super funds for purposes of deposits on homes will not work. An opinion supported by the "super fund" fiasco created in Canada. It is a toxic idea at the very least.
Home grants passed on by the state governments and other government or non-government incentives only fuel home values. Perhaps many are of the opinion that developers, builders and home owners looking to sell and don’t listen to the news because they are too busy building and preparing?
Allow me to burst your bubble. Any easy money given out makes the property owner, developer and builders grin with inner most joy, as they can increase the value of the end property product by double that which is granted.
I can just see property owners rubbing their hands as they wait for one of the above incentives to be introduced.
If the government is serious about housing affordability they should look into the taxes and duties payable by developer/builders that are passed on to the consumer. Duties and taxes collected by all levels of government at the same time were fees that were meant to be abolished with the introduction of the GST.
Then there is my pet hate: over-inflated commissions.
Commissions paid to spruikers and financial institutions that sell real estate with no licences. Excessive fees that are added onto the property values, predominantly on newly built homes. This is an area which the governing bodies should look into if they want to get serious about affordability.
There is light at the end of the tunnel however in the form of the oversupply of property presently being built in Sydney. This may well be a welcomed relief to Sydney’s local first home buyers. I am one to believe, other property markets will soon be oversaturated as well.
No, easy money is not the answer. I have some friendly advice to the people wanting to enter the market in Sydney as first home buyers: wait. Wait and rent for now, it is becoming so much cheaper to rent where you would otherwise buy. Wait for the market to catch up.
For more property discussions join me on Twitter <a href="https://twitter.com/justthink1" target="_blank">@justthink1</a> and you can contact me on <a href="https://www.edwinalmeida.com/" target="_blank">edwinalmeida.com</a>. 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-thin.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Easy money is not the answer to housing affordability: Edwin Almeida

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CoreLogic RP Data have released a list of the most affordable capital city suburbs in Australia.
Unsurprisingly, given their respective placings at the bottom of capital city home values, Hobart and Adelaide suburbs make up the entire top 10 list.
Suburbs on the eastern shore of the Derwent River were the most affordable in Hobart, while Adelaide's northern Playford region hosts the city's cheapest suburbs for houses.
Top 10 most affordable capital city suburbs for houses
<ol>
<li>
<a href="/news">Gagebrook</a>, Brighton, Greater Hobart, TAS Median Value: $136,649 
</li>
<li>
<a href="/news">Herdsmans Cove</a>, Brighton, Greater Hobart, TAS Median Value: $139,664 
</li>
<li>
<a href="/news">Clarendon Vale</a>, Clarence, Greater Hobart, TAS Median Value: $158,883 
</li>
<li>
<a href="/news">Bridgewater</a>, Brighton, Greater Hobart, TAS Median Value: $169,691 
</li>
<li>
<a href="/news">Risdon Vale</a>, Clarence, Greater Hobart, TAS Median Value: $173,468 
</li>
<li>
<a href="/news">Elizabeth North</a>, Playford, Adelaide, SA Median Value: $174,191 
</li>
<li>
<a href="/news">Davoren Park</a>, Playford, Adelaide, SA Median Value: $178,657 
</li>
<li>
<a href="/news">Smithfield Plains</a>, Playford, Adelaide, SA Median Value: $184,904 
</li>
<li>
<a href="/news">Elizabeth Downs</a>, Playford, Adelaide, SA Median Value: $193,780 
</li>
<li>
<a href="/news">Elizabeth South</a>, Playford, Adelaide, SA Median Value: $196,362
</li>
</ol>
Source: CoreLogic RP Data
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No surprise: Australia's cheapest capital city suburbs

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Federal Liberal MP Kelly O'Dwyer says there is "no one silver bullet" when it comes to housing affordability.
However, at speech made today to the Committee for Economic Development of Australia (CEDA), O'Dwyer, who stood as the chair of a Federal Parliamentary inquiry into the role of foreign buyers in Australia's property market, noted the role of foreign investors in increasing housing supply.
"One of the most critical things I think that the government can do is make sure that we encourage foreign investment," she said.
O'Dwyer said foreign investment was "absolutely critical" to the supply of new dwelling stock and alleviating price pressure.
"This is something that the house standing committee on economics heard a lot about.
"We received evidence from not only economists and academics but also the Reserve Bank of Australia, who said that if you can increase dwelling stock, this has an impact on price... you can keep costs reasonably contained."
O'Dwyer answered questions to CEDA members following a speech on foreign investment, where she invoked the classic Australian comedy The Castle, referencing Australia's enthusiasm for home ownership. Having earlier commented on the Foreign Investment Review Board's (FIRB) lack of action on breaches of current regulation, which requires most foreign buyers to only purchase new housing stock, O'Dwyer noted the opposite effect that foreign investors can have in the established housing market.
"Now, when it comes to existing dwellings, it's somewhat different," she said.
"When there is restricted supply and increased competition, that will also have an impact on price."
O'Dwyer did, however, maintain that the issue of affordability remains a complex one.
"Now, I don't think it's the government's role to determine the price of people's home. It's the government's role to make sure the policy settings are broadly right, so that we encourage new dwellings to be constructed, so that we make sure that there are options for people... to purchase, to rent, or to build themselves.
"And this is a really complex equation. There is no one silver bullet to housing affordability, but we have to look at all these elements combined in order to make sure the dreams of particularly young Australians, to be able to purchase or own their own home – are still going to be a reality for them as they were for their parent's generation."
While O'Dwyer stressed the number of different factors affecting housing affordability, Prime Minister Tony Abbott <a href="/expert-insights/buying/tony-abbott-suggests-foreigners-pricing-out-young-home-buyers">also commented earlier this week</a> on his plans to tighten regulation around foreign investment to protect first home buyer's, saying "obviously, the last thing we want to be doing is pricing young home buyers out of the market".
 
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Foreign investment "absolutely critical" to increased housing supply: Kelly O'Dwyer

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House prices are soaring in comparison to incomes, making life difficult for many and threatening to undermine national economic performance. Western Australia has devised an innovative policy solution.
Using a shared equity model, the Shared Home Ownership scheme allows low-earning prospective homeowners who meet certain criteria to purchase a property by sharing up to 30% of the capital cost with the Department of Housing and borrow the rest with a SharedStart loan through state mortgage lender KeyStart Home Loans.
The loan is directly linked to a major construction expressions of interest project that means the department is able to procure newly built, affordable dwellings in bulk from the market at discounted rates. The discount to market prices gained by the department become its equity share in the portfolio of properties.
In recognition of its achievements, the Department of Housing won the overall award at the 2014 WA Premier’s Awards for Public Sector Excellence and the “Developing the Economy” award for the scheme.
Perhaps unsurprisingly given Australians’ obsession with home ownership, <a href="https://www.ahuri.edu.au/publications/projects/p70394" target="_blank">previous research conducted</a> with potential purchasers of shared equity homes showed focus group participants had two primary motivations that would impact on their interest in such schemes: wanting the security of having a place of their own on the one hand, and desiring asset accumulation on the other.
So unlike other shared ownership models where the government retains a permanent interest in the property, stunting the resident’s opportunities for wealth formation but ensuring long-term affordability is maintained, WA’s Shared Home Ownership scheme encourages the resident to eventually buy out the department’s share, offering a path to full home ownership.
Interest rates are set higher than the lowest variable market rate so that, while repayments will be lower for the period that the homebuyer owns only 70-80% of the property, they will be incentivised to refinance with a private institution once they buy out the department’s share.
So far the program has helped deliver home ownership to over 700 low-income households, many of whom would not have been able to do so otherwise. Though such a program cannot be targeted at the lowest socio-economic groups, as it still relies on a regular income to pay off a mortgage, it lowers barriers to entry for those making below-median incomes.
The program was developed “in response to an increased demand for affordable housing as rents became unaffordable in Western Australia”, says Adrian Warner, acting director of strategy and policy at the Department of Housing.
“In the March quarter of 2014, the median rent reached $460 in Perth, while the median house price increased to $540,000, up from $525,000 in the previous quarter,” he said.
<img class="aligncenter size-full wp-image-22441" src="https://www.themandarin.com.au/wp-content/uploads/2015/02/graph.png" alt="graph" width="504" height="405">
The program has been praised for its benefits to prospective purchasers, government and the wider community, he said:
<ul>
<li>Purchasers only need to borrow 70-80% of the property value;</li>
<li>The equity component is not dependent on a government grant or debt;</li>
<li>The supply of entry-level housing is increased;</li>
<li>It supports local industry and creates value for the economy — over $650 million in economic activity to date;</li>
<li>First home buyers require only a 2% or $2000 deposit;</li>
<li>No lender’s mortgage insurance or monthly account keeping fees.</li>
</ul>
According to figures provided by the Department of Housing, to date, SharedStart has delivered:
<ul>
<li>$149 million of direct construction activity;</li>
<li>$112 million of induced activity by suppliers;</li>
<li>1491 jobs supported;</li>
<li>722 households into home ownership;</li>
<li>Total economic benefit to the state of $465 million.</li>
</ul>
{qtube vid:=9w3-JRBmeis}
Return for households and government
A <a href="https://www.ahuri.edu.au/publications/projects/syn91" target="_blank">report by the Australian Housing and Urban Research Institute</a> in partnership with PricewaterhouseCoopers found the program was not only achieving its intended outcomes, but had generated significant returns for households, government and industry. AHURI found that the department’s practice of acquiring new homes had helped increase housing supply:
“The shared equity EOI initiative increased the overall supply of low-cost dwellings through its EOI procurement process. This distinguishes the EOI initiative from shared equity schemes that are linked to existing dwellings and therefore do not achieve an increase in the overall supply of dwellings …
“There was agreement amongst all stakeholders interviewed that the shared equity EOI initiative has been highly effective in increasing the supply of lower-cost housing. For example, a peak body representative described the effectiveness in relation to increasing lower-cost housing supply as ‘outstanding’ and a senior Keystart representative commented that the scheme has been highly effective in terms of providing low-cost properties, which were under $300,000 in several circumstances.
Resident satisfaction with housing affordability was very high:
“… the majority of respondents (87.4%) agreed or strongly agreed that their mortgage payments were affordable; and the majority of respondents (74.9%) agreed or strongly agreed that their home was affordable to run (e.g. in terms of utility bills).”
And the program has done well helping lower income people move into their own housing:
“The scheme was successful in providing home ownership opportunities to members of the targeted client groups. This included: eight public housing tenants who moved into home ownership via the shared equity EOI scheme; 188 survey respondents who were first home owners and 198 survey respondents who reported that they would never have been able to buy a home from the private market without the shared equity EOI scheme; six survey respondents who reported having a disability; and nine respondents who reported living with a person with a disability; 58 survey respondents who were single home owners with one child or more; and 42 survey respondents who were key workers [nurse, teacher, police etc].”
The program has encouraged more interest among developers for building one- and two-bedroom housing, something traditionally seen as more risky.
The report found that the typical expectation of housing assistance is that it is a form of subsidy to households that generates significant costs to government. “Instead,” said Warner, “this form of assistance makes a sustained, substantial difference to the financial wellbeing of lower-income households whilst also delivering a positive rate of return for government. Through this process, value has been created for government in the form of embedded equity stock.
“These initial equity shares had an estimated value of $58 million by September 2013 for 722 properties ($80,729 per property). These equity shares were created without capital expenditure by the department.
“Due to the nature of the SharedStart scheme, as house prices increase so will the value of equity shares held by the department. Additionally, the scheme ensures that the portfolio maintains a strong asset base as government sells down other state assets.”
The scheme is part of the government’s Affordable Housing Strategy 2010-2020, which sets a target of at least 20,000 new affordable homes by 2020.
“The government passed the halfway mark on its target just three years into the strategy,” said Warner. “Over 17,000 new affordable housing opportunities have been created since January 2010, on schedule to exceed the target of 20,000 by 2020.”
<a href="https://www.ahuri.edu.au/publications/projects/p80088">Research from 2003 showed</a> shared equity to be a more effective policy option than the First Home Owners Grant at assisting low-income earners into housing. According to modelling, shared equity would have a greater impact on home ownership rates, is more likely to be taken up by lower income households, and is less likely to simply bring forward home purchase decisions.
This article first appeared on <a href="https://www.themandarin.com.au/" target="_blank">The Mandarin</a>.
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How WA is tackling the housing affordability crisis

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GUEST OBSERVATION
Often when commentators use "income" to "property price" ratios and compare our property prices with other countries or even different periods in Australia and conclude that property prices are either over valued or undervalued, they are using the wrong statistics. 
We are currently being told that property prices when compared to our income levels make property prices unaffordable and therefore there will be a correction soon. 
We hear this especially from overseas commentators visiting Australian shores.
Harry Dent and Robert Kiyosaki are two such visitors to our shores recently who have said our property prices are overvalued when compared to our income levels. 
If you simply measured those two statistics against each other then one could arrive at that conclusion. 
However affordability is a function of house prices, income and interest rates. It's not simply between income and property prices. 
If you look at the graph below from BofA Merrill Lynch Global Research which compares: 
<ol>
<li>Implied price based on income growth  </li>
<li>Implied price based on income growth and interest rates </li>
</ol>
<img src="/images/2015/01/30/chan%20jan%2030%20one.png" alt="">
As you can see from the graph the red line is a lot below the blue line indicating that property prices are hugely overpriced. Most commentators use this line to run their argument that property prices as a ratio of income is in a bubble and a correction is imminent. 
If you look at the green line it is above the blue line which indicates that property prices as a ratio of income and interest rates are still affordable and not in a bubble. 
I think house price growth will slow in 2015 against a back drop of increasing unemployment figures amongst other indicators.
Ed Chan is founder and non executive chairman of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor Accountants</a>.
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Australian housing is not overpriced - and here's why: Ed Chan

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Australia’s housing affordability and supply problems are on the radar of the Urban Development Institute of Australia, whose new National Policy Agenda identifies four key areas for reform, and a number of things that the federal government can do.
Looking at the areas of taxation, red tape, infrastructure and planning, UDIA national president Cameron Shephard said that governments can address housing affordability but also need to counter the issue of supply, a fundamental cause of the issue.
“A chronic shortage of housing in many major cities has resulted in rapidly escalating prices and rents, which has led to worsening housing affordability, and put home ownership increasingly out of reach for many ordinary Australians,” said Shephard.
“Fundamentally, the solution to this problem lies in reducing and removing the barriers to new housing supply, such as high taxes and charges on new housing, poor planning, delays caused by red tape, and inadequate urban infrastructure."
A number of their recommendations were also to state and local governments, including the first three of the nine points below. They also recommended that state governments reduce their reliance on upfront developer charges by investigating alternatives, create long-term plans, reduce reliance on stamp duty and similar taxes, and look to planning system reform.
Here are their nine suggestions for the federal government:
<ol>
<li>Identify population growth trends through the use of regular growth forecasts. 
</li>
<li>Actively use population growth forecasts to underpin comprehensive strategic plans for increasing urban infrastructure investment, and improve land-use planning and land supply. 
</li>
<li>Ensure that sufficient resources are available across different levels of government to implement strategic land use and infrastructure plans over the short, medium and long term. 
</li>
<li>Ensure that infrastructure investment decisions are subject to rigorous and comprehensive cost benefit analysis, to ensure the greatest value for money on new projects. 
</li>
<li>Further investigate non-traditional methods of funding infrastructure, to increase the level of funding available for investment at both a federal and state level. 
</li>
<li>Ensure that all levels of government cooperate and coordinate their regulatory activities to identify best practice, standardise regulations where possible, and avoid conflicting legislation, to create certainty. 
</li>
<li>Work to reduce duplication with state and local government processes, including continuing to streamline federal and state environmental assessment and approval systems.  
</li>
<li>Assist state governments with phasing out stamp duty by broadening the base of the GST.  
</li>
<li>Include state and local government levies in GST cost base calculations to improve the integrity of the tax system and reduce the incidence of double taxation.</li>
</ol>
Source: UDIA
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Nine things the federal government needs to do to fix affordability: UDIA

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Australia’s property market has experienced a significant shift in lower-end priced properties. The selection for properties under the $400,000 mark is diminishing.  
Rising capital city dwelling values has meant that homes selling at a price below $400,000 has declined and is now down to 39.7% of all sales from 44.1% a year earlier.  
<img src="/images/2014/11/28/kiusher-nov-28-one.jpg" alt="">
Over the 12 months to August 2014, 37.3% of houses and 45.7% of units sold for less than $400,000.  At the same time a year earlier, 42.3% of houses and 48.5% of units sold for less than $400,000.  
Until 2004 the proportion of sales below $400,000 was fairly similar between houses and units.  Since that time the proportion of sales below $400,000 has trended lower however, the rate of decline has been greater for houses than for units.  
<img src="/images/2014/11/28/kiusher-nov-28-two.jpg" alt="">
This significant divergence in individual capital city home values and growth over recent years has also meant a large difference in the proportion of homes selling below $400,000.
Over the past year, the proportion of all house sales occurring below $400,000 has been recorded at: 
<ul>
<li>12.1% in Sydney;</li>
<li>25.1% in Melbourne;</li>
<li>32.4% in Brisbane;</li>
<li>47.9% in Adelaide;</li>
<li>15.3% in Perth;</li>
<li>62.8% in Hobart;</li>
<li>18.5% in Darwin;</li>
<li>7.5% in Canberra.    </li>
</ul>
20 years ago, more than nine out of every 10 house sales across each capital city were below $400,000. Of course over that time wages have increased, interest rates have tended to be much lower and credit has become much more freely available. Nevertheless, the drop in affordable housing across most capital cities has been substantial.  
Across the capital cities, the proportion of total unit sales below $400,000 over the past 12 months was: 
<ul>
<li>23.5% in Sydney;</li>
<li>37.3% in Melbourne;</li>
<li>53.8% in Brisbane;</li>
<li>67.8% in Adelaide;</li>
<li>38.2% in Perth;</li>
<li>82.9% in Hobart;</li>
<li>32.0% in Darwin;</li>
<li>39.0% in Canberra.    </li>
</ul>
Again 20 years ago almost every unit sold was less than $400,000.  While there has been a decline in unit sales under $400,000 across the board it has been markedly larger in markets like Sydney, Melbourne, Darwin and Canberra.  
Dwelling sales data produced by CoreLogic RP Data showed that over time, houses continued to outnumber units. This is the reason why house sales have a bigger influence on the overall result.    
Options for affordable housing supply, particularly in cities such as Sydney, Melbourne, Perth, Darwin and Canberra have sharply reduced over the past two decades.
<img src="/images/2014/11/28/kiusher-nov-28-three.jpg" alt="">
 
Although borrowing for a mortgage has become easier and wages have grown, the supply of lower priced homes drives many lower income earners out of ownership in these cities.
As an example, current figures to the 12 months to August 2014 indicate there has been just 16,345 homes sold below $400,000 in Sydney compared to 97,982 home sales in total. 
With home values continuing to rise in Sydney and Melbourne, we would expect even fewer sales below $400,000 over the coming 12 months. 
<img src="/images/2014/11/28/kiusher-nov-28-four.jpg" alt="">
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Pool of affordable housing in capital cities continues to evaporate

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It seems when buying property in Victoria, the further you are from Melbourne, the cheaper it gets.
According to RP Data, there are 13 suburbs in Victoria that had median house prices under $100,000 over the last 12 months and they are all in the north and north-west parts of the state.
Victorian House Median Prices
<ol>
<li>
<a href="/news">Sea Lake</a> - $70,000</li>
<li>
<a href="/news">Kaniva</a> - $73,000</li>
<li>
<a href="/news">Minyip </a>- $75,000</li>
<li>
<a href="/news">Rainbow</a> - $77,000</li>
<li>
<a href="/news">Ouyen</a> - $78,000</li>
<li>H<a href="/news">opetoun</a> - $80,000</li>
<li>
<a href="/news">Jeparit</a> - $82,000</li>
<li>
<a href="/news">Nyah West</a> - $85,000</li>
<li>
<a href="/news">Coleraine</a> - $88,000</li>
<li>
<a href="/news">Dimboola </a>- $89,000</li>
</ol>
Similarly, the cheapest units are found 100s of kilometres from Victoria’s major metropolitan areas. But these units aren’t just in small rural towns. According to RP Data, some of Victoria’s cheapest units are found in the large rural hubs of Victoria, in places such as Horsham, Mildura and Moe.
Victorian Unit Median Prices
<ol>
<li>
<a href="/news">Newborough </a>- $133,000</li>
<li>
<a href="/news">Moe</a> - $145,000</li>
<li>
<a href="/news">Morwell </a>- $149,000</li>
<li>
<a href="/news">Mildura</a> - $159,000</li>
<li>
<a href="/news">Alfredton</a> - $180,000</li>
<li>
<a href="/news">Maryborough </a>- $182,000</li>
<li>
<a href="/news">Wodonga </a>- $185,000</li>
<li>
<a href="/news">Bairnsdale</a> - $188,000</li>
<li>
<a href="/news">Horsham</a> - $188,000</li>
<li>
<a href="/news">Yarrawonga</a> - $193,000</li>
</ol>
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