An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

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]

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

NSW first-home buyers had until July 31 to save $31,000 on stamp duty fees for new homes in New South Wales, with a temporary extension of stamp duty relief ending.

The measure allowed first-home buyers to avoid paying stamp duty on new homes worth up to $800,000.

From August 1, the property price cap for a stamp duty exemption will drop back from $800,000 to $650,000.

<a href="/developments/sydney-nsw?source_news_article_id=106698&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_13.jpg" width="1200" /></a>

The purchase price cut-off for concessions will also drop from $1 million to $800,000.

Further information can be found at: First Home Buyer Assistance Scheme - https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme.

The biggest benefit was only available from the 1 August 2020 to 31 July 2021 during which the NSW Government increased the transfer stamp duty thresholds for the purchase of new homes and vacant land.

And from the 1st of August 2021, the thresholds revert to the previous parameters in place prior to 1 August 2020.

Buying a first home becomes harder from August 1 in NSW

jchancellor-FAypfDUnLy

NSW first home buyer stamp duty incentives slip backwards from August 1

The ongoing&nbsp;surge in home financing and purchasing took a hit in April as one of the key drivers, the HomeBuilder Grant, came to an end in March.&nbsp;

Many developers however are sighting that the&nbsp;completion of the HomeBuilder Grant has failed to deter first home buyers.

Check out what first home buyers have been keeping an eye on in April.

Here are Urban’s most popular FHB projects:

1. Haven Townhomes, Keysborough

Three-bedroom townhouses&nbsp;from&nbsp;$675,000

[smartcode_project:default project_id=8082]

For those First Home Buyers with a family, or seeking something larger Haven Townhomes has been very eye-catching with affordable and stylish three and four bedroom townhomes on offer

Like Sixth Avenue featured later in this list it's another Aultun Group development this time partnering with&nbsp;Cera Stribley Architects.

The Haven estate encompasses a variety of two storey floor plans with the option of choosing a house and land package, or an off-the-plan purchase.

Situated surrounded by thriving wetlands and meandering walking trails, each of the 59 Haven Townhomes are in a prime position for stunning views, access to nature and world-class&nbsp;amenities.

It is set for completion in December 2021.

2. Live City,&nbsp;Footscray

Two-bedroom apartments from $460,000

[smartcode_project:default project_id=3565]

The new masterplanned community, Live City, comprises 208 residences spread across 14 floors, backed by developer R&amp;F Property Australia.

Set to deliver over 1,400 apartments across eight buildings, the Footscray project brings together a fully-integrated, mixed-use community that’s thriving with character and history.

Designed by Elenberg Fraser, each residence features floor-to-ceiling windows, contemporary interiors and an abundance of natural light.

It is the most affordable development on this list with a one bedroom abode available from $350,000.

3. Melbourne Square

Two-bedroom apartments from $642,000

[smartcode_project:default project_id=2929 project_image_fid=137895]

OSK Property are the group behind the&nbsp;boutique collection of homes at&nbsp;Melbourne Square.

Featuring four distinct themes, it has been architecturally designed by&nbsp;Cox Architecture, with interiors by designer&nbsp;Sue Carr, creating flawless spaces which make the most of the spectacular city views on offer.

Each bedroom boasts a stunning view&nbsp;via floor-to-ceiling glazing, plus the master suites offer a unique panoramic&nbsp;city vista.

Set for completion in mid 2021, amenities include a full-line Woolworths and other shops as well as resort-style facilities including pools, sauna, spa, gymnasium and a yoga room.

4. Sixth Avenue, Chelsea Heights

Two-bedroom townhouses from $599,000

[smartcode_project:default project_id=32136]

Sixth Avenue, delivered by the Aultun Group, was Urban's most popular project for first home buyers in the first quarter of 2021.

Designed by Point Architects in the near coastal suburb south-east of Melbourne, Sixth Avenue features light-filled interiors, bespoke landscaping and recreational amenities within easy reach. &nbsp;

Boasting a collection of 59 two, three and four-bedroom residences, the project provides perfect bayside living with an endless array of retail, dining, and recreational amenities all within easy reach. Whether you prefer to take a dip in the sheltered bay waters or seek the rush of adrenaline through sports and activities, Sixth Avenue’s premium location provides for all lifestyles.

5. Ryrie Home, Geelong

Two-bedroom apartments from $699,000

[smartcode_project:default project_id=5559 project_image_fid=88242]

Ryrie Homes was Urban's most popular investor project for Q1 2021, however this month's results show its appeal for FHB's, with Geelong's strong performance as one of the nation's most sought-after regional areas doing excellent work for this development.

Delivered by Franzé, each Ryrie Home apartment has been cleverly designed by Architectus to deliver great amenity, comfort and abundant storage, with timber flooring, beautiful finishes and quality fixtures.

Each apartment enjoys panoramic bay views and alfresco dining for year-round holiday living.

With the foreshore, 500m north and the CBD, 500m east—as well as parks, theatres, galleries, cafés and restaurants all within walking distance—Ryrie Home offers a level of culture and connection unmatched in Geelong.

Plus for first home buyers&nbsp;looking for something on the more affordable side, one-bedroom apartments start at $375,000

Check out what first home buyers have been keeping an eye on in April

jordan_55689

The most popular VIC developments for first home buyers in April on Urban

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Until the end of March buyers can save up to $63,000 buying an apartment in the Clayton South apartment development Aster, the final release in the sought-after Jackson Green community.

The Cedar Woods Developer Boost, which matches the Victorian government's $15,000 HomeBuilder Grant, can see first home buyers save up to $63,000 when combined with the First Home Owner Grant and stamp duty savings.

The entry level apartments are priced at $396,800 for a limited time, and two bedroom apartments from $524,000 for eligible buyers. Three bedroom apartments start at $725,000.

Aster, set across three buildings in the heart of Clayton South, has been designed by DKO and comprises 63 one, two and three bedroom apartments just 20 kilometres from the Melbourne CBD.

[smartcode_project:default project_id=4124]

Each apartment will feature generous open plan living spaces and quality fixtures and finishes throughout.

Aster Apartments, fronting Haughton Road, will be part of the wider Jackson Green community which already has a number of successful apartment developments.

It sits near at the end of a spaced-out row of the completed Wattle Apartments and Gardenia Apartments. At the other end of the row is the sold-out Huntington Apartments.

Aster sits directly opposite Jackson Green’s central park, allowing unparalleled access. Just across the road is a recreational hub with a dog park, basketball courts, the Djerring trail and other outdoor facilities for all to enjoy.

 
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The Cedar Woods Developer Boost, which matches the Victorian government's $15,000 HomeBuilder Grant, can see first home buyers save up to $63,000 



First home buyers save up to $63k in Clayton South's Aster Apartments as Cedar Woods match HomeBuilder Grant

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<div>Deposit scheme scramble</div>
<div> </div>
<div>As REA Group, correctly anticipated, first homebuyer numbers are getting set to rip higher.</div>
<div> </div>
<div>The Australian reports today that well over 4,000 of the 10,000 places made available for the First Home Loan Deposit Scheme (FHLDS) effective 1 July have been reserved in less than four weeks. </div>
<div> </div>
<div>The federal government is therefore considering extending the scheme reports the article:</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-UbzA0cR-6WA/XyH56IexfKI/AAAAAAAA3Vg/y_Vif17MErcybRF0__rd7_cOqJ9loQLIQCNcBGAsYHQ/s640/FHLDS.jpg" width="640" height="78" data-original-height="96" data-original-width="772"></div>
<div> </div>
<div>The FHLDS potentially allows thousands of first homebuyers to buy using only a 5 per cent deposit. </div>
<div> </div>
<div>With all of the other grants and stamp duty exemptions being thrown in around the country, it's no surprise that first homebuyers are taking advantage of the lowest mortgage rates in history to take the plunge. </div>
<div> </div>
<div>New houses have been particularly popular for FHLDS applicants...more so than apartments and townhomes.  </div>
<div> </div>
<div>First homebuyer numbers had slowed in May, but now look set to retake decade highs.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-mHjeF2-0gtA/XyH7HN-IHAI/AAAAAAAA3Vw/Uk-KbiqlBWAXNtHT-v34rIm4ut-ZxGaqACNcBGAsYHQ/s640/FHB.jpg" width="640" height="362" data-original-height="806" data-original-width="1422"></div>
<div> </div>
<div>Meanwhile the New South Wales government looks set to have another crack at Build to Rent by offering land tax discounts.</div>
<div> </div>
<div>It's an overrated and misunderstood concept which rarely seems to work well.</div>
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pwargent-M4siyDbqQY

First home buyer numbers set to grow: Pete Wargent

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The announcement of HomeBuilder has triggered a land rush, with enquiries for vacant residential land surging over the past two months.
Email enquiries to residential agents on realestate.com.au hit a record high in June, increasing by 11.2 per cent following a 36.6 per cent increase in May. Year-on-year, total email enquiries to agents has doubled.
A closer look at the data shows part of this growth can be attributed to a surging interest in vacant land on the back of the Federal Government’s Homebuilder stimulus announcement.
Even though vacant land enquiries are a very small overall share of total email enquiries, representing just 14.7 per cent in June, the data shows vacant land enquiries have soared to a record high – up 58.8 per cent over the month on June.
In terms of who is leading the land rush, the data overwhelmingly points to first-home buyers, with enquiry from first timers up 177.8 per cent over the month.
Comparatively, enquiry from non-first-home buyer owner occupiers was up 35.4 per cent over the month, while investor enquiries rose 25.8 per cent.
So where are first-home buyers most active?
Interestingly, the monthly increase in New South Wales (55.2%) was relatively muted compared to increases in Victoria (132.1%), Queensland (208.5%), South Australia (215.9%) and Western Australia (616.6%).
 
However, given the relatively high price of land in Sydney, and the fact that HomeBuilder eligibility requirements mean you need to acquire land and build a house for under $750,000, it’s perhaps not all too surprising NSW has seen the smallest increase in activity.
There’s also evidence that this surge in enquiry is translating into sales.
We measure sales volumes on a weekly basis by counting the number of properties that were listed for sale on realestate.com.au that were shifted by agents, during the same week, to the sold section of the website.
Cameron Kusher is the Executive Manager of Economic Research at REA
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ckusher-ujnxiKuFQs

HomeBuilder Grant triggers FHB led land rush: REA's Cameron Kusher

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ME has launched one of its best-ever home loan offers, designed exclusively for First Home Buyers.
The offer gives eligible First Home Buyers access to a 25% discount on LMI, variable rates as low as 2.58% p.a., and no annual fee.
“This offer will help address housing affordability and gives first home buyers a leg up at the perfect time,” ME General Manager, Home Lending Andrew Bartolo said.
“With COVID-19 impacting house prices and many government grants and incentives available, now could be an ideal time for First Home Buyers to finally get into the market.”
<img src="https://www.urban.com.au/images/2020/9/28/ME%20FHBs%20discount.JPG" alt="">
The offer is available to First Home Buyers for the purposes of buying or constructing their first residential dwelling solely for owner occupation. Applicants don’t have to qualify for the Australian Government’s First Homeowner Grant scheme, and they can own or have previously owned a residential investment property.
Customers need at least a 5% deposit (95% LVR) to qualify for both the LMI and variable rate discount. Customers with larger deposits (lower LVR) can access better rates.
The offer is valid for applications submitted from Monday 28 September 2020 to Friday 20 November 2020, that settle by 26 February 2021.
ME’s offer is being advertised nationally.
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j.ballantyne1990-6AQqhLzZaK

ME Bank offer discount to first home buyers

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EXPERT OBSERVER
The HIA-Housing Affordability Index for the June quarter 2020 shows housing in Australia remains at its most affordable since 1999.
HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates and wage developments.
Housing affordability improved in the June quarter across all capital cities.
This improvement in affordability means that it now requires less than 1.2 average incomes to service a mortgage on a median-priced dwelling in Australia’s capitals.
This is a rapid improvement from just three years ago when it required more than 1.4 times the average income to service the same mortgage.
The combination of lower interest rates, slow house price growth and relatively steady wage growth over the past three years have driven this improvement in affordability.
Unfortunately this is cold comfort for many first home buyers.
Repaying a mortgage is no longer the constraint it was over the past two decades. The increase in the number of new homes built over the past five years has kept a lid on house price growth.
The challenge facing first home buyers is no longer their ability to repay a loan, but in obtaining a mortgage in the first place.
A decade of red tape has made it significantly harder for first home buyers to obtain a mortgage for purchasing their first home.
A raft of restrictions imposed by APRA and ASIC since the 2007 Global Financial Crisis has seen the number of home loans issued with a 10 per cent deposit fall from 21 per cent of all loans to just 7 per cent.
As the Governor of the Reserve Bank, Phillip Lowe said, the pendulum has swung too far.
The additional red tape imposed in recent years means that banks are increasingly lending to those that already own a home.
Improving access to finance helped pull the economy out of the 1990’s recession and it can do the same for the COVID-19 recession.
The HIA Housing Affordability Index for the capital cities increased by 5.6%, led by Perth (+7.1%), Melbourne (+6.9%) and Sydney (+6.1%). Brisbane also increased by 5.0%, followed by Canberra (3.3%), Hobart (+3.1%), Adelaide (+3.1%) and Darwin (+1.6%). The Index for regional Australia also increased by 4.9 per cent.
TIM REARDON is the HIA’s Chief Economist
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Housing in Australia at its most affordable since 1999

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From Wednesday, an additional 10,000 loan guarantees from the Morrison Government’s First Home Loan Deposit Scheme are now available for first home buyers over the next 12 months.
The scheme has so far provided 10,000 guarantees to eligible first home buyers to allow them to purchase a modest home with a deposit of as little as five per cent.
It can also be used in conjunction with the Morrison Government’s First Home Super Saver Scheme and HomeBuilder, and first home buyers may also be eligible for state and territory grants and concessions.
In the first year of operation, data also shows that guaranteed loans went to applicants whose income were well below the Scheme’s caps. The average income of single applicants is $66,488 ($125,000 cap) and for couples $109,410 ($200,000 cap).
The scheme has proven most popular with first home buyers under the age of 30 years of age who secured 59 per cent of guarantees, and 12 per cent of guarantees have been secured by Australians over the age of 40.
The largest amount of applications for guaranteed loans, 45 per cent, were made through mortgage brokers.
For more information and eligibility criteria visit <a href="https://www.nhfic.gov.au/what-we-do/fhlds/" target="_blank">NHFIC’s First Home Loan Deposit Scheme website</a>.
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