One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.

Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.

With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.

<img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" />

Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.

At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.

Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

<img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" />

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

Joel Robinson

Monaco Property Group approved for $500 million NALU apartments on Miami beach

The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

<img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" />

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

<a href="https://www.apartments.com.au/developers/jwland-development">JWLand</a>’s De Burgh, the final residential release within the Northbourne Village precinct in Lyneham, is nearing completion just as the Federal Government’s Home Guarantee Scheme prepares for its most significant expansion to date.&nbsp;

From October 2025, the scheme will allow first home buyers to enter the market with just a five per cent deposit and no lenders mortgage insurance (LMI), removing some of the most common barriers to ownership.

With <a href="https://www.apartments.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a> on track for residents to move in by late spring 2025, the timing creates a strong opportunity for first home buyers seeking brand-new apartments in Canberra’s sought-after Inner North.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212888]

The project delivers 350 residences across two buildings, with layouts ranging from compact studios through to one, two, and three-bedroom apartments.

JWLand has tailored the development for long-term liveability, integrating natural light, privacy and outdoor space into each home. Ground-floor residences feature private courtyards, while upper levels benefit from generous balconies.

Kitchens are fitted with Fisher &amp; Paykel appliances, and all apartments include ducted reverse-cycle air conditioning with smartphone app control for lighting and climate.&nbsp;

Shared resident facilities include a rooftop garden, gym, lounge and parcel lockers, alongside landscaped green space within the precinct.

[smartcode_project:default project_id=139989 project_image_fid=267376]

For buyers, the expanded Home Guarantee Scheme removes income caps and introduces unlimited places, making it more accessible than ever. With most De Burgh apartments priced under $1 million, they fall well within the updated eligibility thresholds.

The policy changes provide first home buyers with greater certainty and a smoother path to finance. Combined with the quality and location of De Burgh, the expanded scheme is expected to draw a new wave of buyers to Canberra’s Inner North.

Residents will benefit from the project’s central setting, just 600 metres from the light rail and three kilometres from Canberra’s CBD. The precinct is bordered by the <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands and sits within easy reach of cafes, restaurants, schools and the ANU.

With completion scheduled for late 2025, De Burgh is set to be among the first major apartment projects to meet the expanded scheme head-on, offering first-time buyers a realistic pathway to ownership in one of Canberra’s most connected neighbourhoods.

[smartcode_project_cta:default project_id=139989]

JWLand’s De Burgh aligns with expanded Homebuyer Scheme, opening doors for first home buyers in Canberra’s Inner North

Nsw Budget

EXPERT OBSERVER

This week, the NSW government announced almost A$500 million towards boosting the uptake of electric vehicles. In its new <a href="https://www.nsw.gov.au/initiative/nsw-governments-electric-vehicle-strategy">electric vehicle strategy</a>, the government will waive stamp duty for cars under $78,000, develop more charging infrastructure, offer rebates to 25,000 drivers, and more.

Given the transport sector is Australia&rsquo;s <a href="https://www.environment.gov.au/system/files/resources/6686d48f-3f9c-448d-a1b7-7e410fe4f376/files/nggi-quarterly-update-mar-2019.pdf">second-largest polluter</a>, it&rsquo;s a good thing Australian governments are starting to plan for a transition to electric vehicles (EVs).

But transitioning from cities full of petrol-guzzling vehicles to cities full of electric ones won&rsquo;t address all of the environmental and social problems associated with car dependence and mass manufacturing.

So, let&rsquo;s look at these problems in more detail, and why public transport really is the best way forward.

[smartcode_project:default project_id=7633 project_image_fid=32168]

<h2>Mounting disadvantage and health issues</h2>

EVs do have environmental advantages over conventional vehicles. In particular, they generate less carbon emissions during their lifetime. Of course, much of the emissions reductions will depend on how much electricity <a href="https://theconversation.com/climate-explained-the-environmental-footprint-of-electric-versus-fossil-cars-124762">comes from renewable sources</a>.

But carbon emissions are only one of the many problems associated with the dominance of private cars as a form of mobility in cities.

Let&rsquo;s start with a few of the social issues. This includes the huge amount of <a href="https://apo.org.au/sites/default/files/resource-files/2013-11/apo-nid59916.pdf">space devoted to car driving</a> and <a href="https://doi.org/10.1016/j.landusepol.2016.10.044">parking</a> in our neighbourhoods. This can <a href="https://theconversation.com/reclaiming-the-streets-we-all-can-have-a-say-in-the-new-normal-after-coronavirus-137703">crowd out other forms of land use</a>, including other more sustainable forms of mobility such as walking and cycling.

There are the financial and mental health costs of <a href="https://theconversation.com/australian-city-workers-average-commute-has-blown-out-to-66-minutes-a-day-how-does-yours-compare-120598">congestion</a>, as well, with Australian city workers spending, on average, 66 minutes getting to and from work each day. <a href="https://www.bitre.gov.au/statistics/safety">Injuries and fatalities on roads</a> are also increasing, and <a href="https://link.springer.com/article/10.1007/s11524-009-9433-9">inactivity and isolation</a> associated with driving can impact our physical health.

Car-dependent cities also contribute to <a href="https://trid.trb.org/view/1154961">disadvantage for people who don&rsquo;t have access to cars</a>, and uneven <a href="https://apo.org.au/node/449">financial vulnerability</a> associated with the high costs of car ownership and use.

Indeed, some of these problems could be made worse &mdash; for instance, subsidies for EVs could end up favouring wealthier people who can afford new cars.

<h2>Mining for resources</h2>

A mass global uptake of EVs will generate major environmental problems, too. Most concerning of these is the use of finite mineral resources required for their construction, and the environmental and labour conditions of their extraction.

This was recently highlighted in a <a href="https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions">recent report by the International Energy Agency</a>. As the agency&rsquo;s executive director Fatih Birol said, there&rsquo;s a

<blockquote>
looming mismatch between the world&rsquo;s strengthened climate ambitions and the availability of critical minerals that are essential to realising those ambitions.
</blockquote>

Minerals such as lithium, cobalt, nickel and copper are key ingredients required to make EVs.

As the report noted, EVs use double the amount of copper than conventional vehicles. EVs also require considerable amounts of lithium, cobalt and graphite that are hardly required at all for conventional vehicles. And it expects demand for lithium to grow 40-fold between 2020 and 2040, driven by EV production to meet climate targets.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=400&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=400&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=400&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=503&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=503&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/408077/original/file-20210624-13-12t8z1b.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=503&amp;fit=crop&amp;dpr=3 2262w" /></a>

<figcaption>There are better ways to cut transport emissions than greater uptake of electric vehicles. Shutterstock</figcaption>
</figure>

There is <a href="https://www.afr.com/policy/energy-and-climate/speed-of-green-energy-shift-triggers-supply-alarm-20210506-p57pi5">considerable discussion</a> of Australia&rsquo;s natural advantage as a supplier of some of these minerals, as we have large reserves of lithium and rare-earth metals beneath parts of the continent.

But before governments and mining bodies rush to exploit these reserves, they need to ensure much more is done to avoid the injustices perpetrated against Traditional Owners and their lands and heritage. The recent appalling <a href="https://theconversation.com/rio-tinto-just-blasted-away-an-ancient-aboriginal-site-heres-why-that-was-allowed-139466">destruction at Juukan Gorge</a> by Rio Tinto&rsquo;s iron ore operation is just one example of this.

<a href="https://theconversation.com/critical-minerals-are-vital-for-renewable-energy-we-must-learn-to-mine-them-responsibly-131547">Mining also has its own environmental problems</a>, such as land clearing and associated biodiversity loss, the pollution and contaminants it produces, and <a href="https://theconversation.com/arent-we-in-a-drought-the-australian-black-coal-industry-uses-enough-water-for-over-5-million-people-137591">intensive water use</a>.

The conditions of extracting these critical minerals in other parts of the world are dire. There&rsquo;s the oppressive working conditions <a href="https://www.theguardian.com/global-development/2019/dec/18/how-the-race-for-cobalt-risks-turning-it-from-miracle-metal-to-deadly-chemical">in cobalt mining in the Democratic Republic of the Congo</a>, the conflict over <a href="https://www.theguardian.com/commentisfree/2021/jun/14/electric-cost-lithium-mining-decarbonasation-salt-flats-chile">Indigenous rights in Chile&rsquo;s lithium mining areas</a>, and environmental destruction associated with <a href="https://www.theguardian.com/environment/gallery/2015/apr/15/rare-earthenware-a-journey-to-the-toxic-source-of-luxury-goods">mining rare earth minerals in China</a>.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="Lithium mine with brine pools" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=450&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=450&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=450&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=565&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=565&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/408075/original/file-20210624-21-1nlr7vh.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=565&amp;fit=crop&amp;dpr=3 2262w" /></a>

<figcaption>Mining for rare-earth metals such as lithium comes with enormous environmental impacts. Shutterstock</figcaption>
</figure>

<h2>Broadening ideas about transport</h2>

To focus on these problems is not to suggest the new policies on electric vehicles are unimportant, or that they don&rsquo;t stand to have some positive environmental impact.

The point is private EVs are not a solution to the combined challenges of reducing our urban environmental footprints and making better cities for all, and that they have their own problems.

Instead, we should develop a good mass public transport system with extensive and frequent coverage. Alongside urban development with a more even distribution of jobs, services and opportunities, investing in better public transport could reduce car dependence in our cities.

This would have a range of environmental and social benefits: making more space available for people instead of machines, extending the benefits of mobility to people who can&rsquo;t or don&rsquo;t drive, and reducing demand for finite minerals.

Even fossil-fuelled public transport has fewer emissions than conventional car travel. Data from the <a href="https://www.ipcc.ch/site/assets/uploads/2018/02/ipcc_wg3_ar5_chapter8.pdf">Intergovernmental Panel on Climate Change</a> shows the most fuel-efficient buses and trains generate less than half the carbon emissions per passenger kilometre of fuel-efficient cars. Of course, public transport powered by renewables will be even better.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="Trams on Swanston Street" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=450&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=450&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=450&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=566&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=566&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/408072/original/file-20210624-15-1chlrge.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=566&amp;fit=crop&amp;dpr=3 2262w" /></a>

<figcaption>Melbourne&rsquo;s tram network is the biggest in the world. Shutterstock</figcaption>
</figure>

But as things stand, we are far from having such a city. The benefits of good public transport and public services are <a href="https://journals.sagepub.com/doi/pdf/10.1068/a140008g">unevenly distributed across our cities</a>.

In Sydney, for example, there are significant investments in new public transport infrastructure in some parts of the city, such as <a href="https://www.sydneymetro.info/west/project-overview">Metro West</a> and the recently completed North West Metro. There are <a href="https://www.smh.com.au/national/nsw/entire-nsw-rail-network-to-go-green-by-2025-smaller-ferries-to-go-electric-20210610-p58013.html">welcome commitments to reduce emissions</a> in that sector, too.

But we&rsquo;re a long way from planning new developments and redevelopments to make public transport a viable alternative to cars. The <a href="https://www.abc.net.au/news/2021-04-18/western-sydney-urban-sprawl-lesson-for-other-australian-cities/100072140">lack of public transport infrastructure in newly constructed, master-planned</a> estates on Sydney&rsquo;s urban fringe is the most glaring example.

Ultimately, it&rsquo;s important that a transition to electric vehicles doesn&rsquo;t dominate the discussion we need to have about urban transport.

Our challenge is to simultaneously reduce the carbon footprint of different forms of transport, while also thinking much more broadly about the sustainability and justice of the system of mobility that&rsquo;s so central to daily life in our cities.<img alt="The Conversation" height="1" src="https://counter.theconversation.com/content/163247/count.gif?distributor=republish-lightbox-basic" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" width="1" />

&nbsp;

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/cramming-cities-full-of-electric-vehicles-means-were-still-depending-on-cars-and-thats-a-huge-problem-163247">original article</a>.

This week, the NSW government announced almost A$500 million towards boosting the uptake of electric vehicles

max.kwok_55688

Cramming cities full of electric vehicles means we’re still depending on cars — and that’s a huge problem

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An absolutely wild $8.63 billion in stamp duty and land transfer duty receipts was raised over the year to September for the NSW Government, according for the Office of State Revenue (OSR). 
This is a totally unprecedented windfall for any state or territory in Australia.
Note how annual stamp duty receipts (red line) have remained above $8.6 billion even in the face of lower volumes (dotted blue line) this year.
Simply, this is due to higher dwelling prices in Sydney. 
<a href="/images/2016/12/NSW.jpg" target="_blank">Click to enlarge</a>
<h3 class="post-title entry-title"><img src="/images/2016/12/NSW.jpg" alt=""></h3>
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<div>NSW's budget surged into a massive $4.7 billion surplus in 2015-16.</div>
<div> </div>
<div>This result was miles ahead of forecasts and leaves the state Government with net debt of less than zero.</div>
<div> </div>
<div>The state government is now in a cash positive position for the first time ever.  </div>
<div> </div>
<div>To complete the virtuous circle, billions of these funds need to be rolled into urgently required infrastructure projects, not least to plug the hole that will be left by declining housing construction from 2018 forth. </div>
<div> </div>
<div>With commodity prices recovering, financial markets have priced in a change in the outlook, with Australia's 10 year government bond yield now sitting back at 2.37 percent, having slumped quite sharply since May. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

Stamped out NSW duties

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The NSW government has handed down the state budget for 2019-20, which contains a record-breaking spending of $93 billion on infrastructure over the next four years to 2022-23.
Treasurer Dominic Perrottet’s third NSW Budget sees more than half of this figure go toward road and rail, $55.6 billion for road and transport projects.
Other major expenditures are, $10.1 billion for over 40 new and upgraded hospitals and $7.3 billion towards over 190 new and upgraded schools.
The Property Council's William Power said Treasurer Perrottet’s third budget "delivers on the Government’s election commitments and provides a solid foundation for future economic, job and productivity growth through a $93 billion infrastructure investment, however it’s a budget that reflects tightened purse strings necessitated by a slower residential housing market.”
“Sydney and NSW will always grow but we must invest in the right infrastructure in the right places so that we grow well – this budget does this and supports new and growing communities with much needed social infrastructure,” Mr Power said.
Minister for Regional Transport and Roads Paul Toole said some of the highlights from the 2019-20 Budget included:
<ul>
<li>$1.5 billion over four years for the Pacific Highway upgrade program towards completion of the Woolgoolga to Ballina upgrade which is on track to progressively open to traffic in 2020, and to progress the Coffs Harbour bypass.</li>
<li>$1.2 billion over four years to continue work on existing Princes Highway projects, including the Albion Park Rail bypass, the Berry to Bomaderry Upgrade, the new Nowra Bridge, and the Batemans Bay replacement bridge. Additionally, there is a further $322 million over four years, as part of the Government’s commitment to upgrade the Princes Highway between Nowra and the Victorian border.</li>
<li>Commence work to duplicate the 31-kilometre section of the Great Western Highway between Katoomba and Lithgow, delivering a safer, faster trip over the mountains.</li>
<li>$44.3 million to continue sealing the most remote highways in NSW, the Silver City and Cobb Highways.</li>
<li>$145 million for upgrades on the Newell Highway, including overtaking lanes, pavement upgrades.</li>
<li>$38 million to progress the new Regional Rail Fleet including construction of a rail maintenance facility in Dubbo.</li>
<li>$373 million to improve road safety including a significant increase in investment through the Road Safety Plan 2021 targeting high risk areas with a regional focus. </li>
<li>Start of the $250 Seniors Travel Card in January 2020.</li>
</ul>
Road and Transport Infrastructure?
<ul>
<li>An undisclosed amount of funding is going towards the Sydney Metro City and Southwest rail, which will connect Crows Nest, Victoria Cross, Barangaroo, Martin Place, Pitt Street and Waterloo, opening in 2024</li>
<li>$6.4 billion is going towards the Sydney Metro West rail, which is planned to provide an underground network between the Sydney CBD and the Greater Parramatta area, with construction starting in 2020 and an estimated completion date in the second half of the 2020s</li>
<li>An undisclosed amount of funding is going towards the North South Metro Rail Link - Stage 1, which is planned to connect St Marys to the upcoming Western Sydney Aerotropolis and the Western Sydney International (Nancy-Bird Walton) Airport, with completion predicted for 2026</li>
<li>$695 million is going towards technology upgrades to reduce congestion</li>
<li>$450 million towards 12 pinch points at intersections along major arterial roads and regional links around Sydney</li>
<li>$1.3 billion towards improving the roads in Western Sydney, which includes: <ul>
<li>$404 million towards upgrading The Northern Road between Narellan and Penrith</li>
<li>$145.3 million towards planning and preconstruction costs for the M12 Motorway</li>
<li>$561 million towards the Parramatta Light Rail Stage 1</li>
<li>$107 to the M4 Smart Motorway to improve trip reliability and road safety</li>
</ul>
</li>
<li>$1 billion over five years towards fixing regional bridges, which includes: <ul>
<li>$500 million for the Fixing Country Bridges program</li>
<li>$500 million for the Fixing Local Roads program</li>
</ul>
</li>
</ul>
Education infrastructure
Over $6 billion is planned to go towards school-related infrastructure over the next four years, which includes:
<ul>
<li>$917.4 million towards building eight schools and upgrading 32 government schools, which will go to future schools or existing schools located in: <ul>
<li>Ashtonfield</li>
<li>Belmont</li>
<li>Bungendore</li>
<li>Byron Bay</li>
<li>Coffs Harbour</li>
<li>Jerrabomberra</li>
<li>Jesmond</li>
<li>Kingscliff</li>
<li>Lake Cathie</li>
<li>Lennox Head</li>
<li>Murwillumbah</li>
<li>Newcastle East</li>
<li>Nulkaba</li>
<li>Old Bar</li>
<li>Pottsville Beach</li>
<li>Queanbeyan</li>
<li>Rutherford</li>
<li>South Nowra</li>
<li>Speers Point</li>
<li>Tamworth</li>
<li>Tweed Heads</li>
<li>Wagga Wagga</li>
<li>Wangi Wangi</li>
<li>Wauchope</li>
<li>Wollongong</li>
<li>Worrigee</li>
<li>Yass</li>
</ul>
</li>
<li>$500 million towards the construction, extension or upgrading of non-government schools</li>
<li>$79.6 million over four years towards a new TAFE Western Sydney Construction Hub to be built near the Western Sydney Airport</li>
<li>$61.7 million over four years towards constructing eight new TAFE Connected Learning Centres located in Byron Bay, Nelson Bay, Bateman’s Bay, Jindabyne, Nambucca Heads, Hay, Cobar and West Wyalong</li>
</ul>
Health infrastructure
Over $10 billion is planned to go towards health-related infrastructure over the next four years, which includes:
<ul>
<li>Over $4.4 billion for the upgrading and construction of 29 hospital and health facility projects. Some areas receiving this funding are located in include:</li>
<li>Albury</li>
<li>Bankstown</li>
<li>Blacktown</li>
<li>Bowral </li>
<li>Campbelltown</li>
<li>Concord</li>
<li>Cooma</li>
<li>Dubbo</li>
<li>Eurobodalla</li>
<li>Gosford</li>
<li>Goulburn</li>
<li>Grafton</li>
<li>Griffith</li>
<li>Inverell</li>
<li>Lidcombe</li>
<li>Lismore</li>
<li>Liverpool</li>
<li>Macksville</li>
<li>Maitland</li>
<li>Manning</li>
<li>Mount Druitt</li>
<li>Mudgee</li>
<li>Nepean</li>
<li>Randwick</li>
<li>Ryde</li>
<li>Shellharbour</li>
<li>Shoalhaven</li>
<li>St George</li>
<li>Tumut</li>
<li>Tweed</li>
<li>Wagga Wagga</li>
<li>Westmead</li>
<li>Wyong</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

Where is NSW spending its record $93 billion infrastructure budget

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The NSW Budget indicates that the softening housing market has wiped out $10.6 Billion in expected stamp duty since 2017 but the Budget has no stimulation for the housing market.
The NSW Budget is a well -rounded document that continues the government’s roll out of city shaping infrastructure with $93 Billion committed to key projects.
The positive commitment to infrastructure is offset by a loss of $10.6 Billion in expected stamp duty due to the soft housing market.
The major commitment to infrastructure should underpin the urban growth across the state with a major focus on public transport growth that should occur around rail stations and in city centres.
The housing development industry is getting mixed signals from government on where development should occur and this is eroding confidence within the industry. 
Confusion exists over the ‘missing middle’ code, the future of spot rezoning, affordable housing levies and the impact of lifting the cap on infrastructure levies. 
Resolution is needed on these areas so that the current slow-down can be reversed.”
While housing construction is down the budget papers do point out that this is partly off-set by the large infrastructure construction commitment and a swing by some developers towards commercial office projects. 
Unfortunately for the budget these projects do not contribute stamp duty to the Treasury.
The Budget Statement (P 2-4) states that apartment commencements fell 22 per cent within the final quarter of 2018 and then states ‘Expectations for ongoing strong population growth and a stabilisation in house prices from late 2019 should encourage the commencement of more projects. 
How conditions in the housing market evolve over the next 12 months will be important for dwelling investment and household consumption.’ 
The budget included a proposal to drive reform of Federal Financial Relations with a review from a NSW perspective.
On major rail infrastructure projects the Sydney Metro West will receive $6.4 Billion over 4 years to fast track construction.
 These large rail infrastructure projects in Minister Andrew Constance’s portfolio are important locations for Sydney’s growth.
Western Sydney is a big winner in the budget with Stuart Ayres portfolio receiving $561 million for 2019-20 towards the Parramatta Light Rail, $404 million to upgrade the Northern Road, $286 million for Westmead Hospital, $196 million for Nepean Hospital. $108 million for Campbelltown Hospital.
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The Minister for Planning and Public Spaces, Rob Stokes, had smaller financial commitments including $113 million to create connected communities and $162 million to upgrade government-owned land and buy new land for public parklands as well as for increasing tree canopy across Sydney.
The NSW Budget demonstrates that the state’s finances are in a strong position but the reduction in expected stamp duty is warning signal that the housing market has problems in years ahead. 
The Urban Taskforce believes that the NSW Government needs to have a plan to ensuring the softening housing market is managed back into a strong position that handles population growth and continues the large number of jobs the industry generates.
CHRIS JOHNSON is the Urban Taskforce CEO
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cjohnson-8xfqfuuCSq

NSW Budget has little to help the housing sector: Chris Johnson

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Not much was focus was given to first home buyers in the New South Wales Budget given Premier Gladys Berejiklian already announced her housing affordability package which officially starts July 1.
The housing affordability package outlined first home buyers will receive a number of exemptions following announcements made in the NSW Budget handed down this week.
First home buyers wont have to pay stamp duty on homes up to $650,000 from July.
Stamp duty will be reduced for properties valued between $650,000 and $800,000
Affordability measures also include a $10,000 grant for first home buyers who are building a house, given the total value of the house and land does not exceed $750,000.
A $10,000 grant is also available for existing properties valued up to $600,000.
Some 75,000 homes under construction will be completed in the next financial year in the budget. 
John McGrath said NSW State Budget stamp duty cuts and grants for young buyers will "ultimately raise property prices due to higher competition."
But with Sydney and Melbourne at their peak pricing, McGrath suggests softening market conditions might balance out any price effect from greater first home buying activity.
'Especially if there are fewer investors in the market due to tighter lending restrictions," he said.
CoreLogic quoted recent ABS statistics showing that first home buyer activity in NSW hit a record low of 7.5 percent of new owner occupier mortgages last September and had increased only marginally since then to 8 percent in March this year.
"The long term average is 17 percent, so we’re a long way off that.
"I am concerned by the good initiative be funded largely by disincentivising investor activity and foreign ownership."
Jane Fitzgerald, NSW Executive Director of the Property Council said extra taxes on housing supply means extra cost for buyers and more expensive homes.
"The budget confirms that with an increase of 9.6 percent in residential property stamp duty revenue in 2016/17, the rivers of gold flowing from property taxes will fund essential services and programs next year and beyond," she said.  
"It also now suggests that significant additional costs could be imposed on the supply of the average home. 
"By 2020 that could add a billion dollars to the cost of delivering new homes in NSW. 
"Sydney’s housing supply pipeline ground to a halt less than a decade ago under the burden of excessive infrastructure taxes, so widening the net risks a repeat of recent history."
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jonathanchancellor-7SQnKwU6yx

NSW Budget incentives for first home buyers 

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GUEST OBSERVER 
The Premier and Treasurer should be applauded for the record infrastructure spend and strong fiscal outcome in the NSW State budget, but needed to do more to ensure the dollars matched the rhetoric on the Government’s housing affordability plan.
The NSW built environment is being transformed by the Berejiklian Government’s $73 billion infrastructure spend and future generations will benefit enormously from this investment.
But, in a budget that trumpets an upgraded surplus of $4.5 billion this year, $2.7 billion next – and solid surpluses in the out years – it is disappointing to find that half a billion dollars of new taxes could be imposed on the property industry to fund the extra infrastructure investment foreseen in the government’s housing affordability plan.
For the first time, today’s budget papers revealed the Government expects to collect more than half a billion dollars from the property industry over the next four years to fund state infrastructure needed to support increasing housing supply. 
At the end of the day extra taxes on housing supply means extra cost for buyers and more expensive home.
Surely with the state budget so far in the black this impost could be avoided.
Budget papers stated that the expansion of State Infrastructure Contribution Scheme (SICs) to 10 new areas announced in the recently released NSW Government housing affordability plan would raise an additional $545 million in revenue.  
These additional costs were on top of the announcement as part of the Government’s housing affordability plan that the Local Infrastructure Growth Scheme would be closed in 2020 with a potentially significant cost shift to the property industry of almost $400 million.
The budget confirms that with an increase of 9.6 per cent in residential property stamp duty revenue in 2016/17, the rivers of gold flowing from property taxes will fund essential services and programs next year and beyond.  It also now suggests that significant additional costs could be imposed on the supply of the average home. 
By 2020 that could add a billion dollars to the cost of delivering new homes in NSW. 
Sydney’s housing supply pipeline ground to a halt less than a decade ago under the burden of excessive infrastructure taxes, so widening the net risks a repeat of recent history. 
The Property Council is very keen to work with the NSW Government to ensure this scenario does not play out. 
The strong surplus delivered in Treasurer Perrottet’s first budget was a terrific result that should be applauded along with the $72.7 billion infrastructure spend.
On infrastructure investment, overall economic management and managing the bottom-line the Premier and the Treasurer score 10 out of 10 but on improving housing affordability there are still questions to be answered. 
The Government needs to take serious care to ensure that secondary policy decisions, such as the cost shifting the new SICs envisage, do not torpedo the primary policy objective of improving housing affordability in this state. 
It was pleasing to see that the budget papers confirm that wholly or majority owned companies who were positively contributing to housing supply in NSW would be exempt from the foreign investment taxes imposed in last year’s budget and that the exemption would be backdated to June last year.
These were a direct tax on housing supply and the Premier and the Treasurer are to be congratulated for acknowledging and fixing this so quickly.
Jane Fitzgerald is NSW Executive Director of the Property Council,and can be <a href="https://www.propertycouncil.com.au/" target="_blank">contacted here</a>.
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jchancellor-FAypfDUnLy

Strong NSW Budget should go further to tackle housing affordability crisis

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GUEST OBSERVER
The NSW Budget demonstrates good economic management but the housing construction sector must continue to perform.
The main risk to the very positive NSW Budget is the outlook for the housing market.
Budget Paper No 1, Section 3.4 states ‘The largest risk to the forecasts, both to the upside and the downside, is the outlook for the housing market...’
The Budget indicates that stamp duty from the housing sector is $8.8 billion for 2015 – 16, $9.6 billion for 2016 – 17 and predicted to be $9.6 billion for 2017 – 18.
These are massive inputs to the Budget amounting to 31% of the state’s taxation revenue.
The Budget treads a delicate path between actions to help with housing affordability while continuing to boost housing supply.
The Urban Taskforce is concerned that there are a number of trends in the planning system that could upset this balance and slow down housing supply and therefore reduce stamp duty revenue.
The Budget initiatives on housing affordability are to help first home owners by eliminating or reducing stamp duty but the former Governor of the Reserve Bank, Glenn Stevens, has raised concerns that the saving may simply flow into higher house prices.
Glenn Stevens, in his report to the NSW Government on housing affordability, also cautioned another initiative in the NSW Budget where a levy is to be added on stamp duty for foreign investors as this could slow down housing supply.
Other risks to the forecasts for the housing market include the growing trend of Sydney councils of adding 10-15 percent levies on new housing on new housing developments to provide for affordable housing.
The Urban Taskforce believes this has the flow on effect of inflating the price of the other 90 percent of housing in the development, making these homes more costly and unaffordable to buy, or it will make projects unfeasible and therefore reduce supply.
The continuing confusion over local council amalgamations is also a risk to effective planning decisions being made.
The allocation of $14 million in the Budget and $40 million over the next 40 years to housing affordability should ensure that the Office of Housing Coordination and the Housing Delivery staff in the Department of Planning and Environment will be able to unlock key projects that are caught up in the planning system.
The $123 million allocated to the Parramatta Road Urban Amenity Improvement Program is a positive input to help drive the renewal of this corridor. 
The high investment in infrastructure of $72.7 billion over 4 years is an important initiative to underpin population growth in the state and particularly in Sydney. The investment in the Sydney Metro is particularly important.
The allocation of $12.5 million ($70.6 million over 4 years) to accelerate major project assessments is also very positive.
Overall the Budget demonstrates that NSW is being well managed in terms of finance. Most of the Budget items were released before the Treasurer’s speech.
The Urban Taskforce is keen to work with the NSW Government to ensure that the economic and jobs boost coming from a vibrant housing market continues into future years.
 
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Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Positive NSW Budget- but housing construction a risk: Chris Johnson

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There's not going to be much news for the first home buyers within Tuesday's NSW state government budget.
That's because the Premier Gladys Berejiklian has already announced her housing affordability package which officially starts July 1.
It was a valiant effort, but one I felt without convincing reasoning for the major policy of relief for the first home buyer.
It had the impression of the state government being seen to do something under the weight of all the recent unaffordability headlines.
The NSW Government’s solution for housing affordability sees stamp duty abolished on all houses and apartments up to $650,000 and reduced stamp duty relief for homes up to $800,000.
The valid fear is the government's well intentioned measures could prove counter-productive and lead to an increase in prices if first home buyers who hold off during June, then rush into the market in July.
Indeed the Starr Partners agency quickly noted vendors seeking to prise more of of their offerings by asking their estate agents to list their homes for slightly more, given that first home buyers will soon have more to spend. 
"When first home buyer grants were introduced a few years ago, we saw the same thing," Douglas Driscoll, the Starr Partners chief noted.
Though it's unlikely to impact too deeply in Sydney’s inner and middle-ring suburbs as just 20 per cent of detached housing stock and 33 per cent of unit stock fall within the $650,000 price threshold for stamp duty exemptions.
No suburbs within a 25km radius of the CBD have a median house price under $650,000, while just 38 have median unit prices under the figure which has not been indexed.
CoreLogic noted across in the entire Sydney metropolitan area just 25 per cent of dwelling sales over the past year were at a price of $650,000 or less.
The measure will encourage higher update of apartments given their pricing.
As Driscoll said the affordability crisis is a Sydney issue, not a state wide issue so regional NSW first home buyers are set to benefit the most from the measure.
It will take a big rise in first time buyer demand to prop up the overall housing market, filling any gap by fewer investors should they exit in the market.
There was an historic four percent low of NSW housing finance commitments to owner occupier first home buyers in recent calculations compared to 46 percent of lending to investors. 
Young first home buyers who don't wish to rush the market after July 1 will no doubt seek out the Federal Budget's simple superannuation top-up scheme that offers generous tax breaks.
The Federal Government's headline housing measure also kicks in from July 1 when the first-home buyer can start to salary sacrifice into their super account.
Withdrawals for home purchasing, taxed at marginal tax rates less a 30 percent offset, will be allowed from 1 July 2018.
This article first appeared in The Daily Telegraph.
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Not much not already announced for first home buyers in NSW budget 

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Taxing foreign buyers, rather than any new hand outs to first home buyers, was the focus of the NSW State Government budget.
Treasurer Gladys Berejiklian said she wanted to be "cautious" when dealing with the property market given revenue growth was under pressure.
The State Government is not tipping any Sydney property market correction, just a likely easing.
The state budget didn't raise or lower property taxes, other than the much anticipated new taxes on foreign investors.
All foreign property investors in NSW will be hit with a 4 percent stamp duty surcharge when buying homes and apartments and face an ongoing extra 0.75 per cent land tax surcharge on their residential property holdings. It will mostly affect off the plan purchasing.
Treasurer Gladys Berejiklian said she was confident the extra taxes would not deter foreign buyers given other states had similiar measure. It is likely to come from the estimated 6000 annual purchasers made by foreign buyers from today.
"Economists say it is an inelastic market," she said, when asked if there could be any impact on the state's revenue and international standing. It follows similiar taxes in Victoria and Queensland.
Berejiklian's second state budget anticipates a slowing in stamp duty revenues from record levels of revenue from home sales.
But they will still get $8,777 million in the next financial year, then $9,124 million in 2017-2018.
"I don't apologise for be very cautious when it comes to the property market," she said.
Residential transfer duties are tipped to grow at 4.4 percent annually over the next four years, "significantly more subdued than the pace seen in recent years."
There was 13.6 percent growth in the current budget year, and a stunning 40 percent growth when the boom was its most "robust" in 2013.
The NSW State Budget officially revealed an extra $835 million in stamp duty revenue will come from foreign buyers over the next four years.
It also expects $166 million in over the next four years from land tax on foreign investors.
NSW land tax revenues are forecast to rise at a faster rate than stamp duty revenues.
Land tax on investors will yield 8.1 percent higher revenue every year for the next four years, taking revenues from $3,136 million this year to $3,761 million in 2019-20..
The housing boom longevity is not being assumed by the NSW Treasury who suggest price growth was "moderating."
Transfer duty represents 29% of state government revenue. Land tax represents 11%.
The budget papers noted there was potential downside risk of a decline in the broader housing market.
On the upside was "the impact of low, and possibly even lower interest rates leading to stronger housing construction and consumer spending," the budget papers advised.  
There was no change to NSW first home buyer grants in the state budget with the January 2016 reduction from $15,000 to $10,000 triggering a smaller govenment outlay.
Just $96 million was spent on the first home new home scheme this year, down on the $115 million in the 2014-15 year. The first home exemptions and concessions are estimated to sit at $88 million next financial year.
"We are doing every thing we can for first home buyers," Berejiklian said.
"The key thing is to continue to focus on supply," she added noting that there had been record levels of 70,000 new home construction in the year to April.
"We are spending on infrastructure in local areas conducive to housing." 
She anticipated any of the much-speculated glut in new Sydney apartments would contribute to housing affordability by putting "downward pressure on prices." 
"I appreciate the challenges people go through to get into the market."
She also signalled her concern at the Federal Labor's negative gearing tax policy. 
"Without being over dramatic I am concerned that the election of a Shorten government will jeopardise conditions in NSW," she said.
This article was first published by The Daily Telegraph. 
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