Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;

In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;

International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;

One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;

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Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.

The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).

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First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;

The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349154]

Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.

"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;

Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;

“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;

“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”

Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.

The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.

According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.

The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.

Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.

The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.

As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".

Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.

"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.

CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.

CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.

The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.

First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.

Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.

“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;

“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.

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Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.

Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.

ALT Prahran won’t replace the original venue; rather, it complements it.

“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.

[smartcode_project:default project_id=108413 project_image_fid=353584]

For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.

“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.

Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.

Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.

[smartcode_project_cta:default project_id=108413]

National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

&nbsp;Boutique development and construction firm Ryser has filed plans for its debut apartment building.

Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.

The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;

<a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.

The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" />

According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;

“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.

&nbsp;

Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.

Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.

<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" />

Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."

The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.

The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney&nbsp;</a>

Joel Robinson

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

ASX-listed developer <a href="https://www.apartments.com.au/developers/cedar-woods" target="">Cedar Woods</a> didn’t miss a beat when the opportunity arose to acquire a prime residential development site in one of Perth’s most popular suburbs. In 2019, the developer secured the former Wembley TAFE site, a 1.4-hectare parcel perfectly positioned on the western edge of <a href="https://www.apartments.com.au/developments/subiaco-wa-6008" target="">Subiaco</a>’s vibrant centre.

The first stage, <a href="https://www.apartments.com.au/new-apartments/incontro-subiaco-133-salvado-road-subiaco-wa-6008">Incontro Townhomes</a>, delivered 41 contemporary homes that embrace the suburb’s unique blend of nature and urban energy. Now, Incontro Apartments continues that story, offering a collection of new residences in a market limited with new residential stock. The rarity of a development in such a prime pocket hasn't been lost on buyers, with more than 60 per cent already sold in the early stages of construction.

[smartcode_project:default project_id=108869 project_image_fid=317909]

Set on the tree-lined Bishop Street, in a quiet pocket within Western Subiaco, Incontro Apartments offers convenient access to several lush parks and recreation spots.&nbsp;

Within the estate is Incontro’s Little Green, a linear park that connects the Incontro townhome precinct with the future apartment building. This peaceful stretch of landscaped parkland features shaded seating and communal spaces for residents to relax and interact close to home.&nbsp;

Less than 400 metres away is find Henderson Park, a perfect spot for morning walks, weekend picnics or casual exercise. Neighbouring Henderson Park is Mabel Talbot Park, home to Jolimont Lake and a playground, while just a little further lies Pat Goodridge Park, offering a large sports field and another playground.&nbsp;

[smartcode_project:default project_id=108869 project_image_fid=325604]

For something closer to home, Subiaco Common provides a peaceful green retreat right on your doorstep - ideal for reading under the trees, walking the dog or relaxing with friends.

Beyond the parks and open spaces, Incontro residents are just moments from everything that makes Subiaco such an enviable place to live.&nbsp;

Down the road is Bishop Street Café, a local favourite for a morning caffeine fix. Subiaco’s Rokeby Road and Hay Street are lined with retailers, cafés, vibrant bars and some of Perth’s most loved dining spots, from long lunches at Refuge Small Bar or Juanita’s, to weekend brunch at Community Coffee Co. or Boucla Café. Add to that a strong sense of local community, regular markets, and the energy of Subiaco Square, and it’s easy to see why Subiaco continues to be one of Perth’s most liveable and in-demand suburbs.

[smartcode_project:default project_id=108869 project_image_fid=325605]

Construction of Incontro Apartments is now underway by <a href="https://www.apartments.com.au/builders/emco-building">EMCO Building</a>. With completion expected in mid-2027, buyers have the chance to join a thriving Subiaco community in the not-too-distant future. &nbsp;

One-bedroom apartments are now sold out, with only a selection of two-bedroom apartments and just three three-bedroom residences remaining. Each features generous layouts, stylish finishes and private balconies to enjoy the leafy outlook that makes this Subiaco address so special. Prices start from $925,000*.

[smartcode_project_cta:default project_id=108869]

Over 60 per cent sold as Incontro Apartments captures Subiaco’s leafy appeal

Home Buying

Deciding whether to rent or buy an apartment in Melbourne can be a tough decision, as both options have their own set of pros and cons.

Here's a closer look at the benefits and drawbacks of both renting and buying an apartment in Melbourne:

<h1>Pros of renting:</h1>

<h2>More flexibility</h2>

Renting an apartment allows you to move more easily and without the burden of selling a property.

[smartcode_project:default project_id=3127 project_image_fid=181270]

<h2>Lower upfront costs</h2>

Renting generally requires a smaller upfront investment than buying, as you don't have to come up with a down payment or closing costs.

<h2>Lower monthly costs</h2>

In some cases, renting can be cheaper than buying on a monthly basis, especially if you're unable to afford a large mortgage payment.

<h2>No maintenance costs</h2>

As a renter, you're not responsible for maintaining the apartment or paying for repairs.

<h1>Cons of renting:</h1>

<h2>Lack of control</h2>

As a renter, you don't have control over the property and may have to deal with landlords who are unresponsive to your needs.

<h2>Limited ability to make changes</h2>

Renters are generally not allowed to make major changes to the property, such as renovations or additions.

<h2>No equity</h2>

When you rent, you're not building equity in the apartment or house you're renting.

<h1>Pros of buying</h1>

<h2>Building equity</h2>

When you buy an apartment, you're building equity in the property as you pay off your mortgage.

[smartcode_project:default project_id=110367 project_image_fid=199209]

This can be a good long-term investment, as the value of the property may increase over time.

<h2>Control</h2>

As a homeowner, you have more control over the property and can make changes and improvements as you see fit.

<h2>Potential tax benefits</h2>

Owning an apartment may offer tax benefits such as the ability to deduct mortgage interest and property taxes from your taxes.

[smartcode_project:default project_id=112971 project_image_fid=198408]

<h1>Cons for buying</h1>

<h2>Higher upfront costs</h2>

Buying an apartment requires a larger upfront investment, as you'll need to come up with a down payment and closing costs.

<h2>Higher monthly costs</h2>

In some cases, buying an apartment may be more expensive on a monthly basis than renting, especially if you have a large mortgage payment.

<h2>Maintenance costs</h2>

As a homeowner, you're responsible for maintaining the apartment and paying for repairs, which can be costly.

<h2>Lack of flexibility</h2>

Buying an apartment may limit your flexibility to move or change living arrangements, as you'll need to sell the property before you can move.

Ultimately, whether to rent or buy an apartment in Melbourne depends on your individual circumstances and financial goals. It's important to carefully consider both options and weigh the pros and cons before making a decision.

There are both pros and cons between buying an apartment and renting one in Victoria's capital city

Michael Bird

The pros and cons of renting vs buying an apartment in Melbourne

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The home buying spending intentions, part of the Commonwealth Bank Household Spending Intentions (HSI) series, saw further gains across February, reaching its highest level since the data series began in 2015.

Both mortgage applications and Google searches were up in February in comparison to the month and year prior.

CBA chief economist Stephen Halmarick said the overall improvement in the HSI data is consistent with other signs that Australia’s economy continued to recover in the early months of 2021.

[smartcode_project:default project_id=3303]

"We continue to expect the home buying market to be a key source of support for the Australian economy in 2021 – driven largely by the very low level of interest rates," Mr Halmarick said.

CBA are continuing with their forecast that property prices will be up eight per cent in 2021 and six per cent in 2022, with house prices expected to be nine per cent higher this year.

Mr Halmarick said Commonwealth Bank now expect the Australian economy will grow by 4.4 per cent in 2021 following the economic growth improvement at the end of 2020 pointing to a V-shaped recovery.

One risk to this outlook is the upcoming expiry of the JobKeeper program, though Mr Halmarick said recent CBA research suggests any effect from removing the labour market support measure is likely to be temporary.

“Our view is that the negative impacts of the end of JobKeeper will be short-lived and that the strength in the labour market, the large savings pool generated throughout 2020 and, as shown by the HSI, the solid momentum in spending and home buying, will see the economy transition successfully through the end of JobKeeper,” he said.
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Both mortgage applications and Google searches were up in February in comparison to the month and year prior.

Commonwealth Bank's home buying spending intentions hit record highs in February

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EXPERT OBSERVER

When the government’s <a href="https://treasury.gov.au/review/retirement-income-review/TOR">retirement incomes review</a> of which I was a part examined superannuation, the age pension and voluntary savings, home ownership had a surprisingly important role.

The home is the largest form of voluntary saving and is far more entwined with super and the pension than might be thought, with threads that travel from homeownership to access to the pension, from homeownership to the size of the pension, and from superannuation to homeownership.

<h2>Homeownership keeps pension costs low</h2>

At present, about 76% of retirees own the homes they live in, about 12% rent and a further 11% either live rent-free with family or are in residential care or another arrangement.

<figure class="align-right zoomable"><a href="https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/374112/original/file-20201210-14-tfvimx.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Retired Australians have been unusually likely to own the homes in which they live.</figcaption></figure>This is an unusually high rate of homeownership by international standards that not only benefits individuals but the public purse.

It lowers age pensioners’ living expenses and lowers the required size of the pension.

At 2.4% of gross domestic product, Australia has one of the lowest-cost age pension schemes in the OECD.

But there are indications that homeownership is on the decline.

People are entering the workforce, marrying, forming households and buying their first home later in life.

Between 1981 and 2016 the average age at which Australians purchased a home climbed from 24 to 33.

As a consequence, the average age at which mortgages were paid out climbed from 52 to 62.

Now, one in every ten retired Australians enters retirement with a mortgage.

<h2>Wealth tied up in homes escapes the assets test</h2>

As wealth tied up in housing is exempt from the age pension assets test, it is for many people a preferred form of retirement saving.

At present, around 15% of age pensioners live in homes valued at more than A$1 million, although these figures partly reflect Sydney and Melbourne property prices which have escalated over recent years.

These retirees are often “asset rich and income poor”, having chosen to store their wealth in an asset that doesn’t pay income.

They do well out of the pension. One fifth of age pension expenditure goes to the wealthiest two fifths of retirees.

<h2>Non-homeowners live poorly</h2>

Non-homeowners, on the other hand, are among those most likely to experience poverty in retirement.

Commonwealth Rent Assistance helps with the rent of those reliant on the pension and other payments and is much more targeted than the pension, with 90% going to the poorest fifth of retirees.

But the indexation of rent assistance payments to the consumer price index instead of rents for more than three decades has eroded their value to the point where they now cover less than half the rental costs of the people who get them.

Boosting rent assistance would help, but it is only part of the solution.

<hr>
Income poverty rates of retirees

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=263&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=263&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=263&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=331&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=331&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/374098/original/file-20201210-15-u79lct.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=331&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Retirement Incomes Review, <a class="source" href="https://cdn.theconversation.com/static_files/files/1371/Retirement_Incomes_Review_notes.pdf?1607569573">notes</a></figcaption></figure><hr>
Other parts of the solution include increasing the supply and affordability of housing, creating a market in longer-term rental contracts, and boosting access to public housing, outside the terms of the review.

<h2>Super supports home ownership</h2>

Super gets diverted into financing homeownership in three ways.

First, voluntary contributions can be <a href="https://www.ato.gov.au/Individuals/Super/Withdrawing-and-using-your-super/First-Home-Super-Saver-Scheme/">redrawn</a> by first homebuyers for the purpose of a home deposit, for a sum of up to $15,000 from any one year and up to up to a maximum of $30,000 plus earnings across all years.

<figure class="align-right zoomable"><a href="https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=971&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/374121/original/file-20201210-15-3dwmaw.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1220&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>Super encourages people to borrow.</figcaption></figure>For couples, this can provide up to $60,000 plus earnings to buy a house.

Second, retirees can make a <a href="https://www.ato.gov.au/Individuals/Super/Growing-your-super/Adding-to-your-super/Downsizing-contributions-into-superannuation/">downsizer contribution</a> into their super fund of up to $300,000 per person from the proceeds of selling one home to buy another. Such contributions don’t count towards their super contributions caps.

The third way in which super is financing home ownership is the increasing tendency for people to use their super payouts on retirement to pay out their mortgages.

In addition there is what’s known as the “wealth effect”, a phenomenon seen in contributory pension systems around the world.

Research conducted for the review found that increasing compulsory super balances increase household wealth and provide a degree of <a href="https://cdn.theconversation.com/static_files/files/1372/What_is_the_relationship_between_voluntary_savings_and_changes_to_the_SG_Ummul_Ruthbah_and_Nga_Pham?1607572962">confidence</a> for households to increase debt to invest in property, knowing that superannuation savings can be accessed to extinguish debt in the future and that the residential home is not counted in the age pension assets test.

<hr>
Read more: <a href="https://theconversation.com/what-matters-is-the-home-review-finds-most-retirees-well-off-some-very-badly-off-150465">What matters is the home: review finds most retirees well off, some very badly off</a> 

<hr>
Over a four-year period, it was found that a $1 contribution to compulsory super increased net household wealth by $2.51, through an increase in super wealth of $1.51 plus an increase in housing wealth of $1.21, offset by a 51 cent decline in non-super, non-housing savings.

In each of these ways super makes a contribution to homeownership. The review did not conclude there was a case for allowing further withdrawals from super to enable it to more.

<h2>Homes can contribute to retirement incomes</h2>

For typical homeowner at retirement, home equity represents about two to three times as much of their wealth as does super.

It ought to make accessing the equity in the home through a schemes such as the government’s <a href="https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme">Pension Loans Scheme</a> attractive.

As an example, drawing down $5,000 each year against the equity in a $500,000 home would eat into only a quarter of its value by the time retiree reached 92.

Consumer protections around the pension loans scheme and other reverse mortgage products limit loan to value ratios, ensure that retirees have guaranteed occupancy and can’t run up negative equity in their homes.

<h2>It’s time to use them</h2>

These schemes are at last becoming more popular, perhaps in part to the growing proportion of lifetime income tied up in homes, a figure that has grown from about 6% in the mid 1990s to around 16% for homes bought today.

Homes are a critical part of the retirement system. They are not only a place to live, but are a substantial part of householder wealth and should be considered when planning retirement income. Especially for those older Australians who have not had the benefit of higher superannuation contributions over their working lives.

<a href="https://theconversation.com/profiles/deborah-ralston-107436">Deborah Ralston</a>, Professorial fellow, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/home-ownership-and-super-are-far-more-entwined-than-you-might-think-151693">original article</a>.
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The home is the largest form of voluntary saving and is far more entwined with super and the pension than might be thought

Home ownership and super are far more entwined than you might think

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EXPERT OBSERVER
I’ve received an email from someone expressing outrage that I’m (in his mind) encouraging people to buy real estate at a time when everything is on the point of collapse.
He lectured that he and his friends believe doomsday is pending and the smart thing is to do nothing.
I won’t name him to protect the guilty. But I think people like this sad individual are a huge part of the problem.
Here’s why this kind of attitude is both wrong and damaging.
Firstly, he’s reacting to media headlines and not to the reality. He’s not alone but anyone smart enough to read and write should know better than to react to clickbait headlines.
One of the great problems amid the pandemic is that mainstream media does not see itself as part of the solution. Most businesses have a model based on making a living by being useful to consumers. Media in Australia doesn’t exhibit any desire to be helpful to its customers – its business model is to scare the hell out of people every minute of every day. It’s an appalling business model and it explains why so many publications are failing.
Intelligent people see the headlines for what they are – a shallow pitch to induce us to click on things, fed by profile-hungry economists and others who know a sensational negative is a guarantee of free publicity.
The smartest people tune out mainstream media altogether. Idiots take it all literally. They accept nonsense like the mythical September Cliff at face value, because they lack the ability to think independently.
Secondly, he’s a poorly-informed individual who is apparently unaware that around Australia there are local economies which are thriving and people are just getting on with business – and their local property markets are pumping strongly.
A core problem is that so much of our major media emanates from Melbourne and Sydney. Melbourne is a basket case because its Premier and his government mismanaged hotel quarantine and other aspects of the pandemic, while Sydney is struggling in many ways also. Both cities have elements of their property markets where vacancies are high, rents are falling and/or prices are drifting lower.
All of that influences the tone of media coverage. But two-thirds of Australians don’t live in our two biggest cities. Most Australians live in cities and towns largely unaffected by the virus, can go about their business unimpeded and are doing generally okay.
Many local economies are pumping and their property markets are rock solid. The vast majority of locations around Australia have low vacancies and strong rental markets. Buyers are facing strong competition and prices are rising.
Canberra has recorded house price rises in all of the past five months, according to CoreLogic figures, and Adelaide has risen in four of the past five months. Most regional jurisdictions have shown similar strength over the period from March to July.
Of the nation’s 15 market jurisdictions (eight capital cities and seven regional markets), 11 have house prices higher than they were at the start of the year.
If the forecasts of most economists in February-March were correct, prices would have plummeted, collapsed, nosedived and plunged (usually the language beloved by many journalists) everywhere by now.
Thirdly, Australia needs people to get off the fence and take action. It needs people to spend and it needs businesses to move forward with hope in their hearts. That’s what all those government stimulus packages are designed to encourage.
My sense is that most are doing so. I have conversations (phone, zoom, email, text messages) every day with people all over Australia and the great majority of them are bullish, busy and getting on with business. Even Melbourne people are pushing ahead as best they can in the circumstances.
Real estate markets are ticking over and people who service those markets are making money. It’s rare to encounter businesses with a negative mindset.
Fourthly, I believe the future belongs to the people who see this as a time of opportunity.
For businesses, it’s a time to innovate and find ways to do things better. In Melbourne, real estate agencies are finding ways to function while in lockdown and the early figures suggest an auction clearance rate above 70% in the latest weekend.
For first-home buyers, there’s never been a better time to take action. Interest rates are ridiculously low, lenders are competing for their business, and there has never been so much government assistance available. Some are sitting back and whinging that it’s all too hard but large numbers of young Australians are taking advantage of a never-to-be-repeated opportunity. All power to them.
For investors, there are wonderful opportunities to buy well in locations with good prospects for long term growth.
And the most important words in that sentence are “long term”. Those who understand the fundamentals of real estate investment appreciate that short-term scenarios like the pandemic impact are largely irrelevant in the overall scheme of things.
There are, of course, those sorry individuals for whom the glass is half empty. And there are some for whom the glass is completely empty.
I would say to them: You have the right to wallow in misery if that’s your preference, but don’t waste my time with your doomsday philosophy. I’m too busy getting on with it. 
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Never been a better time for first-home buyers to take action: Hotspotting’s Terry Ryder

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The latest monthly data from the Commonwealth Bank Household Spending Intentions (HSI) Series indicates that home buying spending intentions are running at a record rate. 
CBA Chief Economist Michael Blythe said, "there are some early signs of a ‘wealth effect’ from the housing market supporting spending on motor vehicles, albeit from a very low level, as well as travel and entertainment."
This means the pick-up in dwelling prices in the second half of 2019 will continue into the first half of this year, and the residential construction downturn should be approaching bottom.
“Past cycles show that leading indicators like building approvals turn about three month after home buying intentions start to lift. A bottoming in the construction cycle would remove a major growth drag on the economy, and also helps retailing," Mr Blythe said.
Noting that retail HSI remained low, Mr Blythe commented, “the flat trend in the retail HSI remains a disappointing outcome relative to the stimulus applied via interest rate cuts, tax rebates and the upturn in dwelling prices. The zig-zag pattern for the retail HSI indicates that the ‘Black Friday’ event brought forward spending from December into November without necessarily boosting spending overall."
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j.ballantyne1990-6AQqhLzZaK

Home buying intentions have reached a record high: CBA

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One of the hardest quests in property is to time your home sale at the market peak, to sit out, and to then buy back at the very bottom.
As we never really know what is around the corner, it is only some time after that the so-called peak and bottom can be gleaned.
Even then because there are so many separate cycles, it is not really possible to say there is just the one peak or bottom.
Buying back into a depressed real estate market, having determined it as a good time to buy, rather than evidence of ongoing doom, is not for everyone.
Waiting for the perfect bottom timing may see you never make the return acquisition and miss out altogether. 
And the best time to buy differs for everyone.
Of course, this is not going to stop some boasting of selling at the top of the Sydney market - around late 2016 early 2017 - and buying back at the bottom.
Good luck to them, because it is a tricky occurrence, thwart with risks at both ends of the deal.
Buying property is the biggest financial decision in most lifetimes, and there is stress involved, regardless of when or how often you buy.
Battling your own emotions could be hard, and then telling family and friends that you’re intent on pulling off a property masterstoke, could see pride and ego cloud your judgment.
For most property buyers, it is the norm to simply buy and sell in the same market which does offer some price comfort, especially for upsizers.
First home buyers get a greater shot at buying better too. 
Sydney is at a stage in its cycle where many are wondering if the property market is close to bottoming out, although the autumn market is marked by uncertainty, caution and a reluctance to commit.
The rate of the price fall is in decline, according to CoreLogic, and Sydney has also seen the strongest capital city auction clearance rate.
The overall market direction is set to be interest rate driven with other contributing factors including levels of consumer and business confidence, the state of the share market, stability in national and global economic conditions, along with government policy.
I'd suggest these are more unknown than usual.
The only way we will know the market has bottomed is in hindsight – and you'll have likely missed it by the time the data driven headlines advise when the bottom was.
Instead of trying to do what is almost impossible, the better strategy is to get educated about the markets.
Look out for minor increases in both buyer interest and transaction activity.
The tell-tale signs the market is about to turn a corner include well-priced properties starting to sell soon after their listing.
There will be multiple offers occurring on well-priced properties.
Some auction properties will be selling surprisingly above reserve.
A shortage of stock for sale across the suburb could be occurring with time on the market dropping.
Of course even if the market has bottomed there is no guarantee we will see any noteworthy increase in values any time soon.
The values might sit there for some years, as it did following the bottom after the 2003 boom.
But the successful property purchaser knows how to create wealth at any point in a cycle while others do poorly even in good times.
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

Buying at the bottom sounds great, but educating yourself about the market is ever better

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Television personality Shelley Craft has appeared in a video series from ASIC to help consumers make better decisions when buying a home.
The five videos feature tips on the key decisions involved with a buying a home including:
<ul>
<li>How to get a home loan;  </li>
<li>Working out how much you can afford with a mortgage;</li>
<li>Saving to buy a home;  </li>
<li>Understanding the hidden costs of buying a home and;</li>
<li>Being a guarantor for a home loan.</li>
</ul>
Peter Kell, ASIC's Deputy Chairman said for many people, buying a home is likely to be their biggest investment.
"We encourage home buyers to take the time to understand their individual financial position and be aware of what they are committing to with a home loan. And it is always a good idea to shop around for the best deal', he said.
"It can be challenging to build a home deposit, a good place to start is to create a budget to understand how much you can comfortably afford to save, borrow and repay.
"ASIC's MoneySmart offers a range of useful calculators and resources, including the savings goals and mortgage calculators, to help Australians take control of their money and reach their savings goals.
Shelley Craft said buying a home is full of excitement but it can also be stressful, especially the financial aspects.
"it's important to take your time, consider all your options and be sure to ask lots of questions, so you understand what you're signing up for," she said.
Don't rely on just one source when you're shopping around for a home loan because saving even half a percent on the interest rate can save you thousands of dollars over tim"', added Ms Craft.
To see ASIC's financial tips for home buyers visit <a href="https://goo.gl/pWsabK" target="_blank">ASIC's MoneySmart website</a>.
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jonathanchancellor-7SQnKwU6yx

Television's Shelley Craft hosts MoneySmart tips for home buyers

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<img src="/images/2015/11/NEW_RAMS_LOGO.jpg" alt="">
As a first home buyer, you may be eligible to receive a grant or stamp duty concession to help with your property purchase.
Each state and territory has its own scheme and the offers, qualification criteria and processes for applying vary accordingly.  
In the ACT, for example, the territory government offers $12,500 to owners whose first buy is a newly built or a substantially renovated property worth up to $750,000. 
In Western Australia, grants of up to $10,000 are available to first home buyers purchasing or building a new home. 
Check with the finance or revenue office in your state or territory for more details.
 
<table cellspacing="0" cellpadding="0"><tbody>
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Australian Capital Territory
</td>
<td valign="middle">
 
<a href="https://www.revenue.act.gov.au/" target="_blank">www.revenue.act.gov.au</a>
 
</td>
</tr>
<tr>
<td valign="middle">
New South Wales
</td>
<td valign="middle">
 
<a href="https://www.osr.nsw.gov.au/" target="_blank">www.osr.nsw.gov.au</a>
 
</td>
</tr>
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<td valign="middle">
Northern Territory
</td>
<td valign="middle">
 
<a href="https://www.revenue.nt.gov.au/" target="_blank">www.revenue.nt.gov.au</a>
 
</td>
</tr>
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<td valign="middle">
Queensland
</td>
<td valign="middle">
 
<a href="https://www.osr.qld.gov.au/" target="_blank">www.osr.qld.gov.au</a>
 
</td>
</tr>
<tr>
<td valign="middle">
South Australia
</td>
<td valign="middle">
 
<a href="https://www.revenuesa.sa.gov.au/" target="_blank">www.revenuesa.sa.gov.au</a>
 
</td>
</tr>
<tr>
<td valign="middle">
Tasmania
</td>
<td valign="middle">
 
<a href="https://www.sro.tas.gov.au/" target="_blank">www.sro.tas.gov.au</a>
 
</td>
</tr>
<tr>
<td valign="middle">
Victoria
</td>
<td valign="middle">
 
<a href="https://www.sro.vic.gov.au/" target="_blank">www.sro.vic.gov.au</a>
 
</td>
</tr>
<tr>
<td valign="middle">
Western Australia
</td>
<td valign="middle">
 
<a href="https://www.osr.wa.gov.au/" target="_blank">www.osr.wa.gov.au</a>
 
</td>
</tr>
</tbody></table>
 
HOW TO APPLY
You can lodge an application for most grants through your mortgage lender or directly with the relevant government office. 
You’ll need to fill in an application form and provide proof of your identity, address and details about the property purchase. The exact documents you’ll need will depend on the property’s location and your circumstances, such as whether you’re buying a newly completed home or building yourself. 
When the grant is paid depends on the type of purchase and whether you applied through a lender or directly. For off-the-plan purchases in NSW, for instance, payment is made at settlement if you applied through your lender, or within 15 working days of lodgement after the transaction has completed if you applied directly. 
To meet the conditions of most first home owner grants, you (or another grant applicant) will have to live in the property as your primary home for at least 12 months within a year of settlement or completion. If you move out too soon you’ll have to repay the grant. 
Quick tip: Check with your state or territory finance or revenue office for details on what assistance may be available to you.
 
TO FIND OUT HOW RAMS CAN HELP EASE YOU THROUGH THE PROCESS, GET IN TOUCH WITH YOUR LOCAL RAMS HOME LOAN EXPERT OR DROP IN FOR YOUR <a href="https://ad.doubleclick.net/ddm/clk/297184293;124283199;t" target="_blank">FREE FIRST HOME BUYERS’ GUIDE</a>.
For more great property advice and tips on buying your first home from RAMS subscribe to <a href="https://ad.doubleclick.net/ddm/clk/297184408;124284900;i" target="_blank">The Great Australian Dream property series</a>.
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
Disclaimer: Information in this material is general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.
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