Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Stamp Duty

<html><body>
The Real Estate Institute of NSW (REINSW) has joined a growing chorus of voices calling for changes to stamp duty on residential property.
REINSW president Malcolm Gunning said NSW home buyers were being hit with excessive amounts of stamp duty, which is known as transfer duty in some states, due to increasing house prices.
“Stamp duty was never designed to slug the average property owner at such high levels,” he said.
Gunning’s comments echo recent calls from others in the industry including the <a href="https://www.news.com.au/finance/real-estate/reiq-calls-for-stamp-duty-abolition-first-homebuyer-grant-reform-and-super-to-be-used-for-loan-deposits/story-fndbalka-1227189572242" target="_blank">heads of other state branches of the Real Estate Institute</a>, Property Council of Australia of South Australia executive director <a href="https://www.news.com.au/finance/real-estate/stamp-duty-comes-under-fire-as-sa-housing-approvals-fell-in-november/story-fndba8zb-1227178836009" target="_blank">Daniel Gannon</a>, and CoreLogic RP Data senior research analyst <a href="/expert-insights/investing/its-time-to-reform-stamp-duties-cameron-kusher">Cameron Kusher</a>.
The tax has been criticised for holding back new residential development and discouraging housing turn over, such as downsizing the family home.
In the UK, cuts to the rate of stamp duty charged on properties <a href="https://www.theguardian.com/money/2015/jan/28/stamp-duty-spike-uk-home-buyer-estate-agents" target="_blank">introduced late last year</a> have reportedly led to a jump in the number of people looking to buy a home. 
Stamp duty is levied by the states, so its level varies depending on the location of the property. First home buyers in some states receive concessions which mean they do not have to pay duty on the purchase of properties up to a certain value. There are also concessions in some states for buying new homes or vacant land for building a home.
Here are some examples of how stamp duty varies for purchases of established homes in each state. The greatest variation is for lower valued properties where concessions for some types of buyer come into play.
Property value: $350,000
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="151">
State
</td>
<td width="141">
First home buyer
</td>
<td width="152">
Home buyer (subsequent property)
</td>
<td width="157">
Investor
</td>
</tr>
<tr>
<td width="151">
South Australia
</td>
<td width="141">
$13,830
</td>
<td width="152">
$13,830
</td>
<td width="157">
$13,830
</td>
</tr>
<tr>
<td width="151">
Northern Territory
</td>
<td width="141">
$13,300
</td>
<td width="152">
$13,300
</td>
<td width="157">
$13,300
</td>
</tr>
<tr>
<td width="151">
Tasmania
</td>
<td width="141">
$11,935
</td>
<td width="152">
$11,935
</td>
<td width="157">
$11,935
</td>
</tr>
<tr>
<td width="151">
NSW
</td>
<td width="141">
$11,240
</td>
<td width="152">
$11,240
</td>
<td width="157">
$11,240
</td>
</tr>
<tr>
<td width="151">
ACT
</td>
<td width="141">
$9,575
</td>
<td width="152">
$9,575
</td>
<td width="157">
$9,575
</td>
</tr>
<tr>
<td width="151">
Victoria
</td>
<td width="141">
$6,935
</td>
<td width="152">
$13,870
</td>
<td width="157">
$16,070
</td>
</tr>
<tr>
<td width="151">
Queensland
</td>
<td width="141">
$0
</td>
<td width="152">
$3,500
</td>
<td width="157">
$10,675
</td>
</tr>
<tr>
<td width="151">
Western Australia
</td>
<td width="141">
$0
</td>
<td width="152">
$10,735
</td>
<td width="157">
$10,735
</td>
</tr>
</tbody></table>
Property value: $650,000
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="151">
State
</td>
<td width="152">
All buyer types
</td>
</tr>
<tr>
<td width="151">
Victoria
</td>
<td width="152">
$34,070
</td>
</tr>
<tr>
<td width="151">
Northern Territory
</td>
<td width="152">
$32,175
</td>
</tr>
<tr>
<td width="151">
South Australia
</td>
<td width="152">
$29,580
</td>
</tr>
<tr>
<td width="151">
Western Australia
</td>
<td width="152">
$24,890
</td>
</tr>
<tr>
<td width="151">
NSW
</td>
<td width="152">
$24,740
</td>
</tr>
<tr>
<td width="151">
Tasmania
</td>
<td width="152">
$24,622.50
</td>
</tr>
<tr>
<td width="151">
ACT
</td>
<td width="152">
$23,300
</td>
</tr>
<tr>
<td width="151">
Queensland*
</td>
<td width="152">
$15,100
</td>
</tr>
</tbody></table>
* Buyers in Queensland would pay $22,275 transfer duty on a property bought for investment purposes.
Property value: $1 million
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="151">
State
</td>
<td width="141">
All buyer types
</td>
</tr>
<tr>
<td width="151">
Victoria
</td>
<td width="141">
$55,000
</td>
</tr>
<tr>
<td width="151">
Northern Territory
</td>
<td width="141">
$49,500
</td>
</tr>
<tr>
<td width="151">
South Australia
</td>
<td width="141">
$48,830
</td>
</tr>
<tr>
<td width="151">
ACT
</td>
<td width="141">
$44,918
</td>
</tr>
<tr>
<td width="151">
Western Australia
</td>
<td width="141">
$42,615.50
</td>
</tr>
<tr>
<td width="151">
NSW
</td>
<td width="141">
$40,490
</td>
</tr>
<tr>
<td width="151">
Tasmania
</td>
<td width="141">
$40,185
</td>
</tr>
<tr>
<td width="151">
Queensland
</td>
<td width="141">
$30,850
</td>
</tr>
</tbody></table>
Source of data in all tables: Infochoice.com.au
</body></html>

zfielding-GvX3Uq9KTa

How stamp duty varies state by state

<html><body>
Stamp duty is a tax paid by property buyers upon the purchase of a home or investment property. It’s not only levied on real estate – it’s also charged on a number of other assets – however, it’s most often discussed around property.
It’s charged on land, established homes, new properties, apartments, villas and pretty much all property sales and even gifts of property. Stamp duty is often also payable on your mortgage.
As the figure can add a substantial cost to purchasing a property, it pays dividends to be aware of what the cost may be upfront.
When you’ve bought a property you have 30 days after settlement within which to pay your stamp duty.
However, the total amount does differ by state and territory as it is levied by the state and territory governments and is not a federal charge. This means that buying the same priced property in Victoria will see you charged a different amount than if you bought it in South Australia.
Duty is usually charged by a threshold structure, based on how expensive the property is that you are buying.
You may be eligible for a concession or to even have your stamp duty waived, if you are a pensioner, a first home buyer, purchasing your principal place of residence or buying new (under certain schemes). Similarly, some groups, such as farmers, can achieve concessions. These concessions, again, are decided by your state and territory and so will differ.
Occasionally, no duty or minimal duty will be charged under a certain amount, however this is usually not a figure high enough to purchase a substantial property holding ($25,000 or so). In some states, duty can go as high as 7% for premium-priced properties (over $3 million). Usually, you pay based on the market value or the purchase price and take whichever is higher to do the calculation.
The stamp duty rates can change, so it’s worth keeping an eye out for any alterations made by your state or territory government.
You can usually pay your stamp duty by BPAY, mail, overseas or local EFT or in person at the local regulating office (e.g. OSR). You can also pay ahead of time.
</body></html>

jduke-EHk3XBmHkn

What is stamp duty? Investment terms explained

<html><body>
The High Court of Australia has sided with the Commissioner of State Revenue in a stamp duty disagreement over Docklands developments.
In the decision, made last month, the High Court ruled that the Commissioner was entitled to reference the entire value of a development agreement, rather than just the sales contract value, when assessing stamp duty payable.
Developer Lend Lease made an agreement with VicUrban in 2001 to purchase Docklands land parcels, with Lend Lease to develop and sell large residential and commercial properties on the land. Both Lend Lease and VicUrban agreed to contribute infrastructure, including a bridge, a park and a road extension, on and around the land.
Under the development agreement, Lend Lease was required to pay additional amounts to VicUrban beyond what was outlined in the sales contract. The additional payments included compensation for infrastructure and remediation, as well as a portion of proceeds received by Lend Lease when they sold properties on the land.
Lend Lease objected to the Commissioners assessment of the stamp duty payable, which referenced the entire quantity paid by Lend Lease as part of the development agreement. The developer argued that the consideration paid for each parcel of land only included the amount specified in the sales contract.
However, the High Court disagreed. In the decision, reference was made to a dispute in 2005 between Dick Smith Electronics and the Commissioner. In that case, the majority held that the total consideration included the buyer's execution of several promises outlined in an agreement which contributed to the overall sum, as the vendor would not have transferred the asset (in that instance, a bundle of shares) if the buyer hadn't taken those actions.
After the Commissioner disallowed Lend Lease's initial objections to his assessment, Lend Lease launched an appeals process which saw the High Court ultimately agree with the Commissioner's assessment. Lend Lease has stated that it respects the High Court's decision.
</body></html>

jrichardson-uRX5hFdKfN

High Court rules stamp duty consideration extends beyond sales contract value

<html><body>
Sydney's strong property market has triggered a windfall in stamp duty for the state government.
The NSW government's half-yearly budget review indicated stamp-duty revenue was 40% higher in 2013-14, allowing the Treasurer Andrew Constance to say the NSW budget was the "envy" of the nation.
The state government also expects $744 million more stamp duty in 2014-15 than it forecast in the May budget.
Stamp duty revenue was now expected to be up by 12% during the current financial year.
Much of the gain was through commercial and industrial property sales.
But softer revenue than expected in payroll tax and mining royalties was noted along with the jobless rate expected to be higher than the prior 5.5% forecast.
After predicting a $283 million deficit for 2014/15 mid-year, the review revealed a likely surplus of $272 million.
The $555 million turnaround was mostly attributed to property stamp duty.
"Higher-than-expected property transfer duties are the significant driver of the 2014/15 surplus forecast," Treasurer Andrew Constance said.
</body></html>

jchancellor-FAypfDUnLy

NSW stamp duty boost for state government coffers

Seven things to know about the stamp duty debate

<html><body>
The reluctance of many home owners to trade up homes partly stems from increases in stamp duty rates, an RBA study suggests.
It noted in New South Wales and Victoria, the housing price thresholds at which higher rates of stamp duty apply have not been changed for a number of years. 
"As housing prices have risen, more buyers have fallen into the higher stamp duty brackets, acting as a disincentive to purchase housing," the report says. 
In New South Wales the stamp duty paid on a median-priced home has grown to around 25% of annual disposable income per household, from close to 10% in 1991. 
<a href="https://www.rba.gov.au/publications/smp/2014/nov/html/index" target="_blank">The report</a> looked at housing turnover.
<img src="/images/2014/11/07/rba-nov-7-one.jpg" alt="">
Another consideration taking effect has been home owners unwilling to borrow more because growth in labour income has slowed.
Nominal labour income has grown at an average annual rate of 2.7% over the past two years, compared with a decade average of 6.2%, it noted adding the widespread expectation was that wage growth will remain subdued for a time.
Moreover, the Westpac-Melbourne Institute survey suggests that the share of households expecting more unemployment a year ahead has been at above-average levels since late 2011, which is an unusually long time by the historical standards of the survey. 
Housing turnover and loan approvals have risen by less than housing prices when compared with previous cycles in the housing market in recent times, according to the report.
It suggested housing prices and turnover might move together over time for a number of reasons, although the relationship may not be quite as tight as that between turnover and loan approvals (and it is possible for prices to rise with only limited turnover).
It pointed to one strand of past research that found that an increase in housing prices causes an increase in turnover. This is because higher housing prices increase the net wealth of home owners.
"This allows those owners who did not previously have a large enough deposit to trade up to a more expensive dwelling, thereby increasing turnover.
"A complementary strand of research has found that the causality can also run in the other direction, from turnover to housing prices," it said.
Turnover and housing price growth have moved together over time, although the relationship appears to have weakened somewhat in recent years.
The change is most evident in Sydney and Melbourne, where growth in housing prices has been strongest of late.
<img src="/images/2014/11/07/rba-nov-7-two.jpg" alt="">
The rate of turnover has remained low in those cities, both in terms of their longer-term averages and relative to growth in housing prices.
It suggests that some vendors might discern a rise in housing demand by observing a rise in turnover, thereby encouraging them to raise their reserve prices.
The report suggested it ws difficult to know why the turnover rate has remained relatively low compared with its history and compared with prices. 
It note the debt-to-income ratio has been stable at high levels.
"Although interest rates are currently low, the expected repayment burden on loans is at 10-year average levels, when calculated using a longer- term interest rate to account for the expectation that variable interest rates will move up over time," the report said.
"Indeed, in New South Wales and Victoria, which have experienced the greatest disparity between housing prices and turnover relative to historical norms, the share of current income required to service an average loan over the next 10 years is close to historical highs." 
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NSW stamp duty stopping market activity: RBA

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Hi Margaret,
Is stamp duty payable on a transfer of real estate from father to sibling or vice versa?
Please help. What would be the best way to do this transfer?
Regards,
Neville
Margaret's answer is on the next page. Please click below.
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Hi Neville,
The answer to depends upon which state you live in.
For example, if you live in NSW and the property is located there, then the stamp duty which would apply will be the same amount that you would pay were you to buy the property.  This means that the property must be valued by a duly qualified person and then stamp duty is assessed on the basis of this valuation. 
You will also have the costs of a solicitor or conveyancer, who must still have the property conveyed to you and so will charge you for that in a similar way to how you would be charged if it were a purchase.
Where property is transferred between family members, it's theoretically possible to transfer property using a 'transfer' form and without going to the expense of having a full contract for sale prepared, with appropriate disclosure documents such as title searches and council zoning certificates. You may prefer to use the usual contract for sale however, as this will protect all parties to a greater degree.
In some states there may be an exemption for transfer between family members, although this usually applies only to spousal transfers.  Depending on the nature of the real estate some exemptions may apply - property used for primary production (family farm) may be exempt and other real estate might have some exemptions depending upon the circumstances around the transfer.
Also be aware that, depending upon the nature of the property for your father (for example if it was his investment property), there may be capital gains tax to be paid.
I find the offices of state revenue in each state are very helpful, so you should give them a call and discuss your personal circumstances.
Kind regards,
Margaret
Have a property question?   <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Do I need to pay stamp duty if I transfer a property to a family member? Ask Margaret

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Up to $55,480 of savings in stamp duty is available for Shine Apartments in Sydney’s inner western suburb of Campsie for a limited time, with the vendor offering to pay the costs for those who buy in.
The $55,480 figure is based on a $550,000 purchase price.
Developers Jia Shun Development Group, one of the largest builder/developers in Zhuhai China, and local based Kang Group Pty Ltd are behind the project.
Kang Group were behind South Strathfield development Verve Apartments.
<a href="https://shineapartments.com.au/" target="_blank">Shine</a> is being designed by Mackenzie Architects International and built by PMC Constructions.
The new apartments, from $499,000, come with parking and city views, with some also including oversized entertaining balconies.
Strata fees are priced at $380 to $445 per quarter for one-bedroom apartments, and $535 to $865 per quarter for two-bedroom apartments.
Rental yield expectation is sitting around 5.5%, with a low vacancy rate advertised.
The Shine Apartments are located on Troy Street.
They are being sold through Colliers International.
At present, RP Data records the <a href="/news">median unit price in Campsie at $465,000</a>.
CLICK HERE TO READ MORE NEW DEVELOPMENTS.
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Developer offers to pay stamp duty: Incentives on offer for Shine Campsie

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A strong resurgence in the residential property market has significantly lifted transfer duties; including residential stamp duty in 2013-14 and signs are the trend will continue.
However for what has been described by some commentators, as a ‘windfall’ may in reality be a clear sign that long overdue stamp duty reforms should be addressed now while the market is so positive.
Higher prices and continued strong demand are putting a lid on affordability, along with low interest rates and while very competitive interest rates are welcome, it’s time to look at a longer term solution to the government’s heavy reliance on stamp duty revenue. The state government’s first time buyer concessions are also only available on new homes and so this tends to fuel demand in some, mainly outer, areas but the concessions also limit the choices of first time buyers.
However the much wider consideration is that government revenue may be far too reliant on stamp duty revenue from a robust property market. We should question if this is placing a greater or uneven burden on home buyers for a revenue benefit for the government that may be short lived. At the same time government is naturally welcoming the revenue, but this is a volatile source of cash.
And while state-based tax reforms looks a long way off, I think that it is reasonable to suggest that while the market is so strong that this is the ideal time to start the process of reform. Because in the longer term, lower stamp duties with more widespread affordability might well help to fuel and sustain a more robust market. This process could start with indexation.
However before looking at the case in favour of indexation, one of the most telling figures in this debate is the comparison between GST revenue and transfer duty that NSW receives. GST revenue in 2014-15 is estimated at $6.094 billion rising to $6.9 billion in 2017-18. By comparison, the total transfer duty revenue in 2014-15 is estimated at $6.095 billion (of which $4.7 billion flows from residential property stamp duty) but this is anticipated to rise to $7.256 billion in 2017-18. On top of which we should not forget that revenue from land tax will add $2.4 billion – $2.8 billion in the same time frame, plus the parking space levy is set to reach $115 million by 2017-18. Adding these figures we see that by 2017-18 property related revenue for the state will be some $10.24 billion. To me this appears to suggest a possible imbalance.
Higher Prices Should not be Driving Revenue
We currently have historically low interest rates, pent up demand, undersupply, improved consumer confidence and of course the obvious big increase in house prices. It is the rapid increase in prices YTD to 16.3% against an anticipated 7% increase that really does support the argument. It is time for the NSW government to look at reducing or at least moderating the amount of stamp duty from residential buyers via some form of indexation.
The concern being expressed is that stamp duty does play a role in the housing affordability debate. The figures speak for themselves, when you consider that the average stamp duty paid by a property buyer is now $23,805 and that only nine years ago it was $14,485, then the figures look horrible. In 2005/06 total stamp duty paid was $2.3 billion today its $4.7 billion.
The result comes about because higher property prices are pushing average home buyers into more expensive stamp duty brackets. Economists refer to this phenomenon as bracket creep. Governments tend to enjoy bracket creep because it delivers growing tax receipts without nasty policy changes or political debates.
The current stamp duty brackets have not been changed for a very long time (except for the “premium property” bracket that was introduced in 2004). When these brackets were put in place, the median house price in NSW was less than $300,000. The median house price in Sydney is now $783,000 as bracket creep catches more and more buyers. Already we know that in some 170 Sydney suburbs, that’s one in five, median prices are now $1 million plus, and this is a further signal that some adjustments are warranted.
Governments do need revenue, but stamp duty reform has been promised for many years, and the current policy is a negative for many buyers. It’s also a source of income that in many ways is frequently volatile. One solution is to start and adjust the growing bracket creep problem, and this could be done in stages. 
If some changes are made now when receipts are high then the NSW government can start indexing the benchmark to be more in-line with today’s values, as current rates are distorted and need adjustment. 
After all, in Sydney almost no homes are well below or even near $300,000, which was the median price when current rates were set.
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pchittenden-eLqUUC8TWW

It’s time to index stamp duty

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Victorian first time home buyers will pay less stamp duty for homes from 1 September.
The reduction in duty has become increasingly attractive - initially, 20% was reduced on 1 July 2011, followed by 10% on 1 January 2013, 10% on 1 July 2013 and the upcoming 10% on next Monday, 1 September 2014.
It is available for new or established home purchases.
<img src="/images/2014/08/29/vic-fhb-aug-29-one.jpg" alt="" style="line-height: 1.3em;">
Stamp duty concessions across the country are on the next page. Please click below.
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Here’s the table that clears up what concessions are available (click to open in new window):
<a href="/images/2014/08/28/stamp%20duty%20chart%20aug%2028%20one.png" target="_blank"><img src="/images/2014/08/28/stamp%20duty%20chart%20aug%2028%20one.png" alt=""></a>
Source: State Revenue Offices/HIA
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