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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Much of the discussion on housing affordability centres on first home buyers’ ability to enter the property market.
First home buyers accounted for only 12% of the total number of owner occupiers taking out mortgages in September, Australian Bureau of Statistics data shows. That’s down from the long-term average of almost 20% indicating new entrants to the property market are either unable or unwilling to make their first purchase.
But new research, <a href="https://www.ahuri.edu.au/publications/projects/p53021?utm_source=2&amp;utm_medium=53021&amp;utm_campaign=home#sthash.UWqrtVLY.dpuf" target="_blank">Housing affordability dynamics in Australia: new insights from the last decade</a>, reveals a more complicated picture of housing affordability that shows the challenges of paying for accommodation are not confined to those who are looking to enter the property market for the first time.
The research by Gavin Wood, Rachel Ong and Melek Cigdem for the Australian Housing and Urban Research Institute (AHURI) at RMIT University and Curtin University will be presented at Parliament House in Canberra on 4 December.
It finds housing affordability has deteriorated in Australia over recent decades for both owner occupiers and for people in the rental market.
Analysing ABS data, the researchers found the proportion of household income that owner-purchasers spent on housing increased to 18% from 12% over the 27 years from 1982 to 2009.
In line with that increase, the proportion of owner purchasers with housing costs in excess of 30% of their income – a level where people are considered to be in mortgage stress – doubled from 10% to 20% of all owner-purchaser households from 1982 to 2009, the report found.
<img src="/images/2014/11/17/zoe-nov-17-one.jpg" alt="">
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Source: Housing affordability dynamics in Australia: new insights from the last decade
</address>
People in the private rental market are also spending more of their income on accommodation than in the past.
In 2009, tenants spent 24% of median gross household income on rent, while just 17% of median income was needed to cover the median rent in 1982. Nearly one in three tenants in the private rental market was spending more than 30% of their income on rent in 2009, up from 22% in 1982.
The research finds many people go through periods of being comfortable in affording their mortgage or rental payments before slipping into a situation where they struggle to meet these financial commitments.
Between a third and half of tenants in the private rental market have been devoting more than 30% of their income to rental payments for a year or more, the research found.
Around 20% of owner-occupiers had experienced one or more periods of housing affordability stress, the study found. This usually lasted only one year and it was rare for owner occupiers to remain in housing stress for more than five years.
Almost 70% of people who suffered housing stress had only one period where they were in financial difficulty, while 30% had two or more periods between 2001 and 2011 when housing ate up more than 30% of their income.
The price of housing and income levels both contribute to whether a person will find housing affordable. It’s not surprising then that affordability has fallen in some cities where properties have made huge capital gains but income levels have risen more modestly.
Debt levels have also risen significantly for people of all ages, but particularly for those aged 25 to 34 years, the research found.
On average, home owners aged 25 to 34 had mortgage debt worth 61% of the value of their property in 2009, compared with 41% in 1990, the report found. Additionally, fewer people in this age bracket owned a home (37.7% in 2009 compared with 55.5% in 1982).
This was also the case for people aged 35–44 years. In 2009, 62.1% of people in that age bracket were buying their home, compared with over 75% in 1982.
<img src="/images/2014/11/17/zoe-nov-17-two.jpg" alt="">
Source: Housing affordability dynamics in Australia: new insights from the last decade(Page 6)
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Both owner occupiers and renters suffering from deteriorating housing affordability

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The Western Australian Planning Commission has announced that they are making changes to the planning system, aiming to boost housing affordability.
The changes follow last year’s Planning Provisions for Affordable Housing Discussion Paper and have now become part of the Affordable Housing Strategy, which looks to bring 20,000 new affordable housing options by 2020.
Western Australian Planning Commission chairperson Eric Lumsden said that as the state’s population grows, the emphasis on affordable housing would be an increasingly important priority.
“Housing affordability is a complex area, which is why we are adopting a staged approach that encourages the use of incentives in the first instance,” he said.
The voluntary incentives may be planning concessions that reduce costs or that may improve the outcomes for both developers and buyers.
 “The WAPC will assess the effectiveness of incentives and, if it proves necessary, will in the longer term investigate further potential policy approaches to deliver affordable housing supply,” said Lumsden.
These changes have been welcomed by the Property Council of Australia, who has been encouraging the government to consider voluntary incentives to increase the supply of affordable housing.
Executive director of the Property Council, Joe Lenzo, said that incentives are the most effective long-term strategy for delivering affordable housing.
“Incentives that reduce costs and improve development outcomes will enable more affordable living options to be provided for the community,” said Lenzo.
“The incentives need to be designed intelligently so that they increase a project’s feasibility and do not impact on its commercial viability, encouraging developers to embrace this opportunity.”
Lenzo said that tailoring the incentives to prioritise housing diversity and supply is the key to providing more options.
“Affordability is more than just the sticker price. It is all well and good to throw up a cheap house in the middle of nowhere, but it will only cost that resident more in utility payments, access and cost of transport and proximity to employment.”
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WA's affordability housing boost given industry thumbs up

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Victorian politicians' $136 million of property: What hope is there of housing policy reform?

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Balancing an economy is undoubtedly a tough ask.
Our inflation targeting Reserve Bank looks to maintain inflation within a range of 2% to 3% on an annual basis over the cycle.  Too much inflation is not ideal, nor is deflation, so the RBA tries to tweak monetary policy to stimulate the economy in order to see some inflation but not too much. 
If inflation runs too high consumption slows down as consumers simply can’t afford to purchase goods and services because they don’t have enough buying power.  If deflation occurs consumers are also likely to stop spending because the value of any debt they have increases (as opposed to reduces when there is inflation).
Consumer buying power may increase during times of deflation; however the weak economic conditions that have caused prices to deflate are likely to also result in higher unemployment, a contraction in the number of jobs and a pessimistic consumer mindset.
With the currently high levels of inflation in housing prices, it stands to reason that the purchasing power of many consumers has diminished.  When you think about the Australian housing market as a whole I don’t think anyone could argue that shelter in Australia is particularly affordable. 
In fact over the last two decades home values have increased at a rate much higher than inflation meaning that some in the community don’t have enough buying power to purchase shelter.  As a result, many of these people are likely to rent.
I am constantly surprised about articles and comments which seem to believe that a significant decline in Australian home values would be the preferred cure to housing affordability and a good outcome for the economy. If we look purely at the inflation and deflation argument some people would say we have had too much inflation of home values however, the solution to that problem is not to aim for deflating current home values.
The Australian Bureau of Statistics (ABS) estimated that as at June 2014, the total value of Australia’s dwelling stock was $5.2 trillion and there were an estimated 9,366,800 dwellings across the country (note that RP Data we estimate the total value of residential dwellings to be somewhat higher at $5.5 trillion as at June 2014). 
To put this $5.2 trillion in dwellings into perspective, over the 12 months to June 2014, GDP, or the total output of the national economy, was recorded at $1.57 trillion.  What this means is that the value of residential dwellings was more than three times greater than the annual output of the economy.
According to data released by the Australian Prudential Regulation Authority (APRA), Australian authorised deposit-taking institutions (ADIs) held $1.225 trillion in loans against these dwellings across 5,079,800 mortgages. 
So what do these figures tell us?
54.2% of dwellings across Australia have a mortgage to an Australian ADI and 23.6% of the total value of Australian dwellings is outstanding to Australian ADIs. 
The ratio of debt held against the total value of the housing asset class is very low however, this ratio includes all dwellings (not just those where a mortgage is held).  In the event of a downturn those with high leverage are likely to be much more significantly impacted. 
It also probably reflects that quite a lot of dwellings have no mortgage (the 2011 Census indicated that roughly one third of Australia dwellings were owned outright) while a proportion will also have mortgages sourced from non ADI lenders or offshore banks.
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Australians choose to hold a large proportion of their wealth in residential property; this is highlighted by the $5.2 trillion total value of residential dwellings. 
Data published quarterly by the Reserve Bank shows that while the typical household’s ratio of housing debt to disposable income in 137.1%, the typical household’s ratio of housing assets to disposable income is a much larger 433.6% making up 54% of the typical households assets.
Over the past couple of decades Australian ADIs have shown a preference for lending to housing as opposed to lending for personal loans or to business.
Of course, the ADIs have had good reason to preference housing lending; it has generally performed well with low mortgage arrears, the return on equity is strong, earnings from mortgages are consistent, higher risk loans are generally insured via lender’s mortgage insurance (LMI), home values have generally trended higher and Australian’s tend to prioritise repayments of their mortgage. 
But this does not mean that home owners and the economy could withstand a significant deflation in home values.  Nor does it mean that a significant deflation in housing values would be a tonic for those that can’t afford to own a house to finally achieve home ownership. 
Why would deflation in an asset which is more than three times larger than the annual output of the economy play out any better than deflation in an economic sense? 
In fact, were home values to deflate it could be argued that the whole economy would suffer as consumers stopped consuming.  As consumers stop spending unemployment would likely rise, ADIs would stop lending and there is a high likelihood the Australian economy would enter a recession.
Remember, it isn’t only those with a mortgage which would face the prospect of unemployment, so too would all those people who are yet to purchase a home waiting for the collapse to enter into the market at rock bottom prices.
A more desirable solution to improve housing affordability in my opinion is to look for a more moderate level of growth in home values while improving both the supply and demand side of the equations.  A sustained period in which home values grow at a rate below inflation would be an ideal way in which to improve affordability rather than a large-scale bust. 
Interestingly, as <a href="/expert-insights/buying/inflation-adjusted-home-values-put-housing-markets-into-context">we showed last week</a>, a number of cities have recorded value growth below the rate of inflation over a number of years now (although this hasn’t been the case in Sydney and Melbourne).
Housing booms make it harder for prospective home owners to enter into home ownership, however I would argue that busts are much worse. 
Furthermore the level of exposure to the housing market by ADIs and residents would mean a housing bust has much more far reaching repercussions for the economy.  Although stress tests indicate that most ADIs could cope with a significant decline in home values the impact on households and the Australian economy as a whole would likely send Australian into a recession. 
This is why rapid deflation in home values is just as, if not more undesirable than rapid inflation and why the goal should be moderate growth in home values with a growth rate that broadly trends in line with household income growth over the cycle. 
If we want to reduce the cost of housing from its current level with minimal overall economic damage, home value appreciation below the rate of inflation for a number of years is what I see as an ideal solution. 
Of course achieving this means that governments need to address the factors that drive a high level of housing demand and those which constrain the overall supply of housing and drive the cost of this new supply higher.
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Deflating house prices is not the solution to affordability

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GUEST OBSERVATION
A small group of people is gathered around a campfire in a Victorian State Forest. Members of the <a href="https://www.facebook.com/TinyHousesAustralia" target="_blank">Tiny Houses Australia community</a>, they’re attending a spring camp to talk about how to build a tiny house, and compare notes on how to address common barriers, like local government planning schemes.
The group is diverse, from students to professionals and retirees. One has been living temporarily in caravans. Others were forced to move into shared accommodation or board with family. Most have given up on the idea of buying their own home, put off by the high price tag or the size of the mortgage, or the downside of living far from family or employment.
Most of the group are also fierce promoters of a more sustainable, minimalist way of life who want their new houses to reflect this. You won’t find many en suites or walk-in wardrobes in their floor plans.
Is bigger really better?
Something is wrong when <a href="https://au.news.yahoo.com/thewest/a/25372224/170k-family-priced-out-of-perth/" target="_blank">a professional earning A$170,000</a> cannot afford to live close to work; or <a href="https://www.smh.com.au/business/property/firsthome-crisis-triggers-call-for-action-20131115-2xmcv" target="_blank">a doctor needs a parental loan</a> to buy a house. All 25 major urban housing markets in Australia are ranked as <a href="https://www.demographia.com/dhi.pdf" target="_blank">severely unaffordable</a>; and Australia has the <a href="https://www.imf.org/external/research/housing/index.htm" target="_blank">second most unaffordable</a> housing market among member nations of the Organisation for Economic Co-operation and Development (OECD).
Australian houses are also <a href="https://www.demographia.com/dhi.pdf" target="_blank">among the largest</a> in the OECD. In 2008, the average new house was 214 square metres, double the size of an average 1950s house. Very large houses are not only more expensive, but environmentally unsustainable. For example, the major factors that determine a house’s greenhouse gas emissions are its size and location; the bigger and more isolated the house, <a href="https://link.springer.com/article/10.1007/s10901-011-9212-2#page-1" target="_blank">the larger its emissions</a>.
For many, particularly young people entering the market and older people leaving the workforce, the “great Australian dream” of a big house on a quarter-acre block is a distant fantasy. And even for those who are living the dream, a sudden interest-rate rise, job loss or chronic illness could rapidly turn it into a nightmare.
Regardless of the debate over whether we’re in a <a href="https://theconversation.com/memo-to-the-imf-there-is-no-housing-bubble-27925" target="_blank">housing bubble</a>, the affordability problem is much broader than property prices. The most serious issue is the lack of affordable <a href="https://onlinelibrary.wiley.com/doi/10.1111/j.1467-8462.2008.00502.x/full" target="_blank">rental accommodation</a>.
Finding sanctuary in a tiny house
From this backdrop has emerged a trend towards <a href="https://www.bloomberg.com/news/2014-07-09/tiny-houses-big-with-u-s-owners-seeking-economic-freedom" target="_blank">building much smaller houses</a>. The <a href="https://en.wikipedia.org/wiki/Small_house_movement" target="_blank">tiny house movement</a> originated in the United States in the late 1990s, largely in response to problems with housing affordability, although it has also been spurred on by the <a href="https://theconversation.com/au/topics/global-financial-crisis" target="_blank">global financial crisis</a> and a widespread desire to live more sustainably. The movement has now spread to New Zealand, Australia and Canada.
Tiny houses are generally smaller than 40 square metres, and <a href="https://www.businessinsider.com.au/beautiful-tiny-homes-2014-8#this-60-square-foot-home-is-the-smallest-house-in-the-uk-16" target="_blank">can take many forms</a>, from granny flats, to repurposed shipping containers, to <a href="https://www.huffingtonpost.ca/2014/03/21/tiny-house-on-wheels-abbotsford_n_5003376" target="_blank">complete houses built on trailers</a>.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63676/width668/m36s92m7-1415151376.jpg" alt="">
Room to manoeuvre: some tiny houses have wheels - just don’t call them caravans. The Tiny Abode Co., Author provided
The benefits of tiny houses include <a href="https://tinyhousebuild.com/tiny-houses-infographic">overall sustainability</a>, reduced energy and water use (tiny houses are often “off the grid”) and, of course, affordability. Some tiny houses can cost less than A$10,000. Moreover, they <a href="https://onlinelibrary.wiley.com/doi/10.1162/1088198054084680/abstract">use significantly less resources</a> to build, and are often constructed from salvaged materials or sustainably sourced products.
Mobile tiny houses could even help their inhabitants adapt to climate change; a house on wheels can be moved out of danger from floods or storm surges. They can allow adult children or aged parents to live independently, yet maintain access to family, employment and public transport.
Tiny houses can even address aspects of homelessness. In the United States, some local governments are donating land for <a href="https://www.huffingtonpost.com/2014/10/27/greensboro-north-carolina-tiny-homes_n_6054590?ir=Impact" target="_blank">homeless people to build their own tiny homes</a>.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
The biggest issues with a tiny house
Although <a href="https://www.facebook.com/TinyHouseBlog" target="_blank">information is plentiful</a> on building techniques, plans and design, it is not very easy to build a tiny house. However, as attendees at the Spring Camp agreed, perhaps the biggest problem with building a tiny house is finding a place to put it.
Tiny houses do not conform to many <a href="https://www.berkeleyside.com/2011/01/07/a-city-looks-for-big-solutions-in-a-little-very-little-house" target="_blank">local government planning schemes</a> or building codes, which mandate minimum house sizes, maximum number of houses per plot, connection to utilities, parking provisions, and restrictions on temporary occupation.
It might also be argued that allowing tiny houses will reduce land values and lead to health and safety concerns, such as overcrowding. But people currently live in crowded conditions or illegally in sheds or caravans.
Some states, such as New South Wales, allow property owners to build <a href="https://www.planning.nsw.gov.au/Portals/0/plansforaction/affordablehousing/docs/Affordable%20Housing_Fact_Granny%20Flats.pdf" target="_blank">granny flats</a>. In other states, the regulations differ between and within each local government, although almost almost all have restrictions on the duration of temporary occupation.
For non property-owners, particularly those who don’t want to take any legal risks, the options are fewer. And of course, local governments can and should impose planning restrictions on tiny houses, and ensure that they comply with building codes and standards.
Tiny houses are not for everyone. They will probably <a href="https://lup.lub.lu.se/luur/download?func=downloadFile&amp;recordOId=4196241&amp;fileOId=4196242">always remain a niche market</a>, more suited to people with no children, or retirees.
Niche, yes, but for some people tiny houses could be a lifeline. Being unable to afford to buy property, fulfil mortgage commitments, or even rent a home can lead to <a href="https://journals.cambridge.org/action/displayAbstract?fromPage=online&amp;aid=1046376&amp;fileId=S0033291706009767" target="_blank">mental and physical illness</a>. In a sustainable city, everyone should be able to <a href="https://www.tandfonline.com/doi/abs/10.1080/0811114032000147430#.VFB38vmUd8E">access affordable housing</a>, and a tiny house is certainly better than no house at all.
<img src="https://counter.theconversation.edu.au/content/32225/count.gif" alt="The Conversation" width="1" height="1">Heather Shearer is research fellow, urban research program at <a href="https://www.griffith.edu.au/" target="_blank">Griffith University</a>.
Heather is a member of the Greens Party, 350 Org and the Tiny Houses Australia Facebook Group. 
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
Feature picture courtesy of the author.
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Move over, McMansions – the tiny house movement is here

<html><body>
Nearly one fifth of Australians believe they will never be able to afford to buy their home, according to a new ME Bank survey.
The survey found that 18% of Australians now believe they will never be able to buy a home. The belief was most prominent among people aged below 30, with 26% saying they will never afford property.
Expectations of property price increases are also prominent – perhaps contributing to the sense of unaffordability.
The survey found that 51% of those with properties, or planning to buy, expect further increases in the next 12 to 24 months. Another 40% are expecting prices to remain steady, while 9% expect prices to drop.
The results show that first home buyer affordability is a growing challenge that is becoming an issue for all Australians, said ME Bank general manager asset products, Luke Easton.
“A large group of young people are delaying or ruling out home ownership altogether,” Easton said.
ME Bank surveyed 1,000 people online for the results.
{mijopolls 60}
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Nearly one in five believe they will never be able to buy a home: survey

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Few things make me more cynical than the sound of a politician mouthing concern about housing affordability.
In my lifetime, there have been hordes of politicians and governments claiming to want to solve the problem, but none willing to take any real action.
When it comes to improving affordability, many politicians talk a good fight, but none is capable of delivering a knockout punch.
The latest masquerade in this regard is being led by MP Kelly O'Dwyer.
O'Dwyer has obviously watched a few episodes of Yes Minister before deciding on a course of action: bring on an inquiry, issue lots of press releases, target an unpopular minority and take "strong action" against these alleged perpetrators of the perceived problem – but essentially do nothing meaningful so that the status quo remains intact.
The truth is, 40% of the cost of a new house in Australia comprises government fees, charges and taxes. Remove those and the cost of a $400,000 house-and-land package would drop to $240,000.
In all the froth and bubble coming out of the federal inquiry, we haven't heard O'Dwyer or any other politician confront this reality. Why not? Because if they did, their advancement within the party would suffer a sharp U-turn.
Governments are addicted to the revenue they milk from their favourite cash cow, the real estate industry. That's sacred and the possibility of scraping stamp duty, for example, is not up for discussion.
So what to do? How to create the illusion of doing something while changing nothing?
<blockquote>
Many Australians have a big issue with Chinese investors, although they don't seem to mind American, British, Dutch, Italian or New Zealand investors.
</blockquote>
The answer, as always, is this: target an unpopular minority, talk tough, issue lots of press releases, look strong, do nothing. Works a treat every time.
O'Dwyer has a bee in her bonnet about foreign investors. I'm not sure whether she truly believes that foreign investors are the cause of the perceived affordability problem. I seriously doubt that she does, because someone armed with all the relevant information, as she should be, must know that foreign investors are not impacting the price of suburban houses in Australia.
But foreign investors are a great scapegoat, particularly as this currently means Chinese investors. And many Australians have a big issue with Chinese investors, although they don't seem to mind American, British, Dutch, Italian or New Zealand investors.
So tough-talking Kelly is going a come down hard on Chinese investors. It'll be good for some media sound bytes and it'll help to advance the career of a politician no one had heard of until recently.
But will it make housing more affordable? No, it won't change a thing.
A quote from Shakespeare comes to mind: "It is a tale told by an idiot, full of sound and fury, signifying nothing."
Chinese investors are not impacting the price of houses in first-home buyer markets in Australian cities. Overwhelmingly, they are buying high-rise apartments in the CBDs of Melbourne and Sydney, as well as the Gold Coast, which is a perennial favourite for Asian investors who enjoy losing money.
If they're buying suburban houses, it's primarily top-end homes in the millionaire suburbs.
The Federal Government could pass a law tomorrow banning all foreign investment in Australian residential property – and the price of houses in the suburbs of Sydney and Melbourne would not change.
But if they removed the taxation component of a house-and-land package, that would make a dramatic difference.
Any chance of that happening? Not remotely.
This is a publicity exercise. Meaningful change is not on the agenda.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">twitter</a>.
 
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terryryder-YECXbqmri2

Pollies prefer to milk the property cow than to make meaningful change

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The growing issue of affordability has seen former Prime Minister Paul Keating weigh in with his thoughts at MaxCap Group’s Developers and Dealers Forum last week, saying that the current situation cannot persist.
Keating said that there is a huge need for increased housing supply and a financing system to support developers in bringing those properties to fruition.
“We cannot persist with this position we are in where our children cannot afford to house themselves,” Keating said.
“No amount of demand is going to improve affordability without a supply response, which will determine a price equilibrium over time,” he noted.
In fact, the financing for the supply may just be the evolution of superannuation funds, the assets of which may at some point outshine those of the banks. He said that they could eventually be used to fund developments.
“Superannuation funds will have to do things in the spaces traditionally left to banks, such as property development, and we will see a shift in the balance in financing this industry,” he said.
Meanwhile, the banks suggested future partnerships with offshore banks, with specific reference to the Asia Pacific region.
Colin Robertshaw, the Commonwealth Bank of Australia's national head of property finance, business and private banking, said Chinese banks may be the alternative needed when banks hit full capacity.
MaxCap Group chief investment officer Brae Sokolski, said one thing was for certain: something will need to be done.
“There is no doubt that the traditional one-size-fits-all approach to finance is not the optimal solution in the current development environment and has in fact resulted in a shift towards utilising specialist consultants that can bridge the gap between development and finance,” said Sokolski.
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Paul Keating says current housing situation cannot be allowed to persist

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There are still some suburbs with cheap median prices, as you can see from the below list of 13 suburbs where median unit prices are under $200,000.

The statistics, from RP Data, are all from suburbs where sales of 10 or more units have taken place.

Of course, just because it's cheap doesn't mean you should buy it; <a href="/expert-insights/buying/the-40-cheapest-property-markets-are-they-really-a-good-place-to-buy">ensure you do your due diligence</a>.

Here are the 13 suburbs:

<ol>
<li>
<a href="/news">Ballarat Central</a> 
	$175,000 
	 </li>
	<li>
<a href="/news">Doreen</a> 
	$169,000 
	 </li>
	<li>
<a href="/news">Horsham</a> 
	$182,000 
	 </li>
	<li>
<a href="/news">Maryborough</a> 
	$174,000 
	 </li>
	<li>
<a href="/news">Melton South</a> 
	$197,000 
	 </li>
	<li>
<a href="/news">Mildura</a> 
	$163,000 
	 </li>
	<li>
<a href="/news">Moe</a> 
	$140,000 
	 </li>
	<li>
<a href="/news">Sale</a> 
	$180,000 
	 </li>
	<li>
<a href="/news">Traralgon</a> 
	$190,000 
	 </li>
	<li>
<a href="/news">Wangaratta</a> 
	$156,000 
	 </li>
	<li>
<a href="/news">West Wodonga</a> 
	$183,000 
	 </li>
	<li>
<a href="/news">Wodonga</a> 
	$190,000 
	 </li>
	<li>
<a href="/news">Yarrawonga</a> 
	$196,000</li>
</ol>
[smartcode_project:default project_id=4046]

[smartcode_project:default project_id=22803]

Source: RP Data
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Victoria’s 13 cheapest suburbs for units sub-$200,000

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Affordability, and the lack of it, is a big topic for those working in the property industry and those buying into the property industry.
Some do not believe the affordability issue exists, such as observer Terry Ryder who was recently writing on<a href="/expert-insights/investing/there-is-no-australian-housing-affordability-crisis-terry-ryder"> what he sees as a mythical issue, </a>and has been for some years.
Others believe<a href="/expert-insights/investing/government-should-ignore-the-self-interested-nimbys-and-fix-sydneys-affordability-crisis-peter-bentley"> we are at a crisis level</a>.
Property Observer has compiled a list of the seven most regularly suggested ways to improve housing affordability and assist first time buyers enter into the market.
Add yours to the bottom of the post, and debate how effective you think these suggestions would be.
1. More first time buyer grants
Providing first time buyer grants to assist new home buyers get a foot on the property ladder at first seems to make a lot of sense. Giving them a cash injection looks as though it will give them a leg up.
Unfortunately, this isn't necessarily the case. Terry Ryder notes that, particularly at present with grants aimed towards new property, <a href="/expert-insights/investing/first-home-buyer-grant-schemes-simply-dont-work-terry-ryder">they do little to bridge the gap </a>between the cost of a new home and the cost of an established home.
Meanwhile, Steve Keen refers to these hand outs and grants as a<a href="/expert-insights/investing/housing-grants-a-poisoned-chalice-that-create-bubbles-and-leave-buyers-worse-off-steve-keen"> "poisoned chalice" </a>that create bubbles. It certainly isn't an uncommon perspective. Many believe giving out first home owners grants merely serves to increase property prices by the value of the grant.
2. Improving supply with more developments
This is often pushed by development companies or lobby groups, however does contain a some grain of truth – improve supply to keep up with demand. Simple? The reality is a little more complicated.
This would involve, in some states and territories, an overhaul of planning and the development approval process. Rezoning may need to occur. Cheap housing supply benchmarks may need to be set, and there would have to be consensus on what "type" of housing should be built.
Even if we did reach this point, it's unclear whether the increased supply would actually have an effect.
A recent article, which looked closely at supply and demand, argued that houses are not the same as bananas or other commodities when it comes to supply. ]
The argument<a href="/expert-insights/investing/its-bananas-increasing-supply-isnt-enough-to-satisfy-hunger-for-affordable-housing">, from academics Nicole Gurran and Peter Phibbs</a>, is that prices for housing are set by the total market, not just the new builds. When prices go up consumption does not decrease, as it might with bananas, and that rises in prices are often accompanied by a decrease in interest rates.
Even if improving supply is the solution, there are locals to also deal with. The McKell Institute's Peter Bentley previously wrote that dealing <a href="/expert-insights/investing/government-should-ignore-the-self-interested-nimbys-and-fix-sydneys-affordability-crisis-peter-bentley">with a NIMBY attitude will be an issue</a>.
3. Allow first time buyers to access their superannuation
A hugely contentious suggestion, and one that has been played out in other countries: Is superannuation the silver bullet for new buyers?
The Housing Industry Association (HIA) is keen, with their executive director Graham Wolfe noting that <a href="/expert-insights/buying/time-to-allow-first-home-buyers-access-to-superannuation-hia">it would assist with their deposit</a>.
“Accessing superannuation for a home deposit would provide temporary access to their personal savings. Provided it was repaid to their superannuation accounts over a period of time, similar to university HECS repayments, their retirement savings would be assured,” he said.
“HIA urges all stakeholders to support measures aimed at improving access to home ownership for first home buyers, including assistance in breaching the deposit gap.”
However, a number of experts, including wHeregroup's <a href="/expert-insights/buying/allowing-first-home-buyers-access-to-their-super-isnt-the-answer">T</a>odd Hunter,<a href="/expert-insights/buying/allowing-first-home-buyers-access-to-their-super-isnt-the-answer"> remain opposed to the idea, </a>saying that it would detract from the security and purpose of superannuation.
There is also the issue around what would occur if the property purchased drops in value, and the simple truth that not all young first time buyers have saved much in the way of superannuation. 4. Negative gearing reform
Tax reform, especially pertaining to negative gearing, is discussed every time a new budget comes up. Whether it's grandfathering the tax benefit out of existence, removing it completely, or some other change,<a href="/expert-insights/buying/how-to-fix-australias-affordable-housing-problem"> the proposal always winds people up.</a>
Some suggest that removing negative gearing benefits takes away the incentive for investors to buy into the market. Investors are often described as competing with first time buyers and subsequently driving house prices up.
Abolishing negative gearing may also remove financial advantages for investors who can afford to pay more, knowing it will cost them less to hold.
Others suggest that taking away benefits around negative gearing removes the incentive for investors to buy rental properties, which some argue assist the provision of rental housing stock. For those, an exodus of investors from the market is a bad thing.
You can <a href="/expert-insights/finance/room-for-debate-should-negative-gearing-be-abolished">read both sides of the argument here</a>.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
5. Alter stamp duty
Stamp duty is also widely considered a tax that stops new buyers, in particular, from getting into the market. Suggestions around replacing it with a broad-based tax have been thrown around, while others just want first home buyers to be given back their stamp duty exemption for purchasing any property.
Removing it completely is often proposed. In fact, BIS Shrapnel's Angie Zigomanis argued earlier this year that stamp duty is almost entirely responsible for l<a href="/news/saving-that-extra-20-000-is-the-drag-causing-first-home-buyer-slump">agging first home buyer numbers</a>.
Others suggest that <a href="/expert-insights/investing/federal-government-calls-for-state-government-stamp-duty-concessions-for-downsizing-seniors">giving older downsizers a relief from stamp duty</a> would help open up larger established properties for upsizers and first home buying families. This is already in place in some areas.
Stamp duty concessions and other property tax cuts, particularly for first home buyers, <a href="/expert-insights/buying/its-time-to-stop-tinkering-with-first-home-buyer-assistance-robert-larocca">seem to garner the most expert support</a>.
6. Macro prudential measures
While macro prudential control is not necessarily on the cards from the Reserve Bank of Australia (RBA), it has been the topic of some debate over whether it could help with not just lending standards but also affordability via the reduction of loan to value ratios (LVR), particularly if aimed towards specific sectors of the market.
Observer Catherine Cashmore recently <a href="/expert-insights/investing/can-housing-really-be-affordable-and-unaffordable-at-the-same-time">reflected on a BIS Shrapnel report </a>which found that while reductions in the maximum LVR can restrain demand, debt service to income ratio measures were assessed to be more substantial.
However, the report noted that “only tax changes affecting the cost of buying a house, which bear directly on the user cost, have any measurable effect on prices” and that  “none of the policies designed to affect either the supply of or the demand for credit has a discernible impact on house prices.”
"The study puts this down to the ‘can buys’ still outnumbering the growing pool of credit constrained ‘can’t buys’ – stressing that the importance of housing supply was not explicitly considered. Therefore if we want to lower house prices or put in place policies to aid affordability, we need to look outside the limited powers of the RBA alone," writes Cashmore.
What macro prudential measures will do, writes Lindsay David, is push new buyers to the sidelines for an immediate period of time and assist them from getting themselves into too much debt.
"[However, it will] negate their fair chance to own a home like their previous generations have– for a much lower cost," he writes, <a href="/expert-insights/finance/fire-the-rba-governor">asking "Where does this leave us?" </a>
7. Changes to foreign investment in Aussie property
The most popular debate around affordability over the past months has been the issue of foreign investors fuelling property prices across the country.
Whether it's <a href="/expert-insights/investing/hitting-foreign-buyers-with-extra-fees-is-an-ineffectual-solution-to-a-mythical-problem">hitting foreign buyers up with an extra fee</a>, increased enforcing of the current rules or an overall abolition of the investment, all manner of things have been suggested.
Unfortunately, it seems experts are split about whether foreign investment is substantially pushing up property prices, despite the<a href="/news/foreign-buyers-at-record-9-5-of-established-property-demand-nabs-alan-oster"> record numbers seen in recent months</a>.
Cameron McEvoy suggests that the affordability issue from foreign investors may be <a href="/expert-insights/buying/investor-saturation-in-suburb-hotspots-will-have-consequences-for-residents-and-investors">contained to specific suburbs and specific types of properties</a>.
 YOU MAY ALSO WANT TO READ
<a href="/expert-insights/buying/eight-housing-affordability-myths-debunked-cis">Eight housing affordability myths debunked: CIS</a>
<a href="/expert-insights/buying/government-needs-to-stem-exodus-of-first-home-buyers-reia">Government needs to stem “exodus of first home buyers”: REIA</a>
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