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

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

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

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

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

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

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

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

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

Elevated amenity anchors daily life at Aeris, Melrose Park

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>
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<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>
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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>
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<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>
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<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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