<p>The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.</p>

<p>For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.</p>

<p>Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.</p>

<p>It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.</p>

<p>Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.</p>

<p>"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.</p>

<p>"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.</p>

<p>"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.</p>

<p>"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360975]</p>

<p>While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.</p>

<p>The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.</p>

<p>One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.</p>

<p>The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.</p>

<p>Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.</p>

<p>The city's entrepreneurial culture is also translating into business growth.</p>

<p>Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.</p>

<p>Development activity remains another key indicator of confidence.</p>

<p>There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.</p>

<p>[smartcode_project:default project_id=112024 project_image_fid=343235]</p>

<p>Importantly, the report notes the next phase of investment will need to extend beyond residential development.</p>

<p>While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.</p>

<p>Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.</p>

<p>"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.</p>

<p>"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365786]</p>

<p>Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.</p>

<p>For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.</p>


Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

<p>Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.</p>

<p>The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.</p>

<p>Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372743]</p>

<p>Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.</p>

<p>"What we are seeing is a shift in how people define value in property," Bakir says.</p>

<p>"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.</p>

<p>"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372744]</p>

<p>Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.</p>

<p>Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.</p>

<p>The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372742]</p>

<p>A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.</p>

<p>Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.</p>

<p>A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.</p>

<p>Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.</p>

<p>[smartcode_project_cta:default project_id=150414]</p>


Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

<p>The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.</p>

<p>The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.</p>

<p>The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.</p>

<p>Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.</p>

<p>The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.</p>

<p>The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.</p>

<p>Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.</p>

<p>The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.</p>

<p>Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.</p>

<p>"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.</p>

<p>"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."</p>

<p>Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.</p>

<p>"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.</p>

<p>"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."</p>

<p>Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.</p>

<p>"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.</p>

<p>"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."</p>

<p>The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.</p>

<p>Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.</p>

<p>"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.</p>

<p>"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."</p>

<p>Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.</p>

<p>"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.</p>

<p>Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.</p>

<p>Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.</p>

<p>"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.</p>

<p>"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."</p>

<p>The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.</p>


NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

<p>Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.</p>

<p>Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.</p>

<p>The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372212]</p>

<p>Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.</p>

<p>"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.</p>

<p>"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372227]</p>

<p>Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.</p>

<p>A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.</p>

<p>The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.</p>

<p>Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372225]</p>

<p>While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.</p>

<p>The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.</p>

<p>The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372222]</p>

<p>The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.</p>

<p>Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.</p>

<p>"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.</p>

<p>The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.</p>

<p>The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.</p>

<p>Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.</p>

<p>"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.</p>

<p>"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."</p>

<p>Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.</p>

<p>[smartcode_project_cta:default project_id=146717]</p>


Lowe Living launches Jardin House in Camberwell

<p>As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.</p>

<p>Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.</p>

<p>At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6395]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.</p>

<p>Rothelowman says the site itself shaped much of the architectural response.</p>

<p>“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6399]</p>

<p>Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.</p>

<p>The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.</p>

<p>Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.</p>

<p>“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=353235]</p>

<p>A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.</p>

<p>The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.</p>

<p>The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6390]</p>

<p>“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”</p>

<p>At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.</p>

<p>ALAND has commenced construction, and is expecting a completion date in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


The Walden pairs house-scale living with North Sydney connectivity

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.</p>

<p>The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).</p>

<p>Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.</p>

<p>Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.</p>

<p>The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.</p>

<p>There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

<p>While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

<p>In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.</p>

<h2>What is NatHERS?</h2>

<p>NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.</p>

<h2>How NatHERS Ratings Work</h2>

<p>NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.</p>

<p>The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;</p>

<p>Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.</p>

<p><strong>Cost Savings:</strong> Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.</p>

<p><strong>Environmental Impact:</strong> Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.</p>

<p><strong>Improved Comfort: </strong>Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.</p>

<p><strong>Market Value and Desirability:</strong> Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.</p>

<p><strong>Compliance with Building Codes:</strong> NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.</p>


The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.</p>

<h3>Convenience and accessibility</h3>

<p>Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.</p>

<h3>Vibrant lifestyle and community</h3>

<p>One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.</p>

<h3>Enhanced security and maintenance</h3>

<p>Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.</p>

<h3>Live-work-play balance</h3>

<p>One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.</p>

<p>The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe></p>

<h2>Who pays Stamp Duty?</h2>

<p>In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.</p>

<p>You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

<p style="line-height:1.38">Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

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


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

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<p>Apartments in Canberra and Sydney are starting to decline, while units in Perth and Brisbane are declining, says valuation firm Herron Todd White (htw).</p>
<p>Darwin and Adelaide are the the bottom of the market, according to the latest property clock.</p>
<p>Melbourne is the only capital city at the peak of its unit market. Hobart's unit market is rising.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/htw-units.jpg" target="_blank">to enlarge.</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/htw-units.jpg" alt=""></p>
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jrobinson-rf4aSBido9

Apartment price declines extend across many capital cities: HTW property clock

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<p>A three bedroom in Lalor, 18 kilometres north of Melbourne's central business district, has been listed by Marco Riggio and John Gioftsidis from Love &amp; Co with an indicative selling price of $510,000 to $561,000.</p>
<p>The auction has been scheduled for April 21.</p>
<p>It last sold in 2004 at $230,000.</p>
<p><a href="https://www.realestate.com.au/property-house-vic-lalor-127922562" target="_blank">Set on 9 Lacey St,</a> the Victorian home comes with three bedrooms, lounge and a kitchen with adjoining meals zone.</p>
<p>Positioned on 538 square metres (approx), it also features include two garage spaces and entertaining area.</p>
<p>The suburb's median house price sits on $610,000 according to CoreLogic.</p>
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j.ballantyne1990-6AQqhLzZaK

Lalor three bedroom house listed by mortgagee

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<p>Expert observer</p>
<p>Australian capital city home prices fell 0.2% in March, their fifth monthly fall in a row. This has brought annual growth down to 0.8% from 11.4% in May last year. Most of the recent weakness relates to Sydney and to a less extent Melbourne.</p>
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<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/slowing.jpg" target="_blank">to enlarge</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/slowing.jpg" alt=""></span></p>
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<p>This is unusual in that property price downturns are usually preceded by significant interest rate increases. Consistent with the fall in Sydney and Melbourne property prices, auction clearance rates and home sales have also fallen.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/clearance.jpg" target="_blank">to enlarge.</a></p>
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<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/clearance.jpg" alt=""></span></p>
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<p><span>How far will prices will drop? Will the weakness spread to other cities? And what will it mean for the broader economy? </span></p>
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<p><span>Australia’s Achilles heel – the risk of a crash </span></p>
<p><span>With prices falling in Sydney and Melbourne some see this as the start of a crash. There is good reason to be concerned: </span></p>
<p><span>• </span><span>Real capital city house prices are 27% above their long-term trend (see the next chart) and are at the high end of OECD countries in terms of the ratio of prices to income and rents. </span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/trend.jpg" target="_blank">to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/trend.jpg" alt=""></p>
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<p><span>The surge in prices relative to income since the mid-1990s has gone hand in hand with a surge in the ratio of household debt to income that has taken it to the top end of OECD countries. </span></p>
<p><span>• </span><span>With a long period of strong prices and low mortgage rates has come some deterioration in lending standards with the share of new interest only loans reaching around 45% in 2015 and concerns about the reliability of borrowers’ income and living expense assessments when they take out loans. </span></p>
<p><span>• </span><span>Finally, there has been a surge in the supply of apartments, notably in Sydney evident in the high number of residential cranes in use, raising concerns about oversupply. </span></p>
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<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/crane.jpg" target="_blank">to enlarge.</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/crane.jpg" alt=""></span></p>
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<p><span>However, a crash remains unlikely </span></p>
<p><span>While crash calls and stories of mortgage stress are common, they have been repeated endlessly over the last 15 years. But, a crash (say a 20% national average price fall) remains unlikely: </span></p>
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<p><span>First, the real driver of high home prices and their persistence has been that, thanks to tight development controls and lagging infrastructure, the supply of dwellings has not kept pace with population driven demand. Over the last decade annual population growth has averaged about 150,000 above what it was over the decade to the mid-2000s, which would require roughly an extra 50,000 new homes per year. But it’s only recently that supply has caught up with the pick-up in population growth. And population growth remains very strong. </span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/construction.jpg" target="_blank">to enlarge.</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/construction.jpg" alt=""></span></p>
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<p><span>Consistent with this average capital city vacancy rates are at or below their long-term averages, notably in Sydney. Secondly, while </span>mortgage stress is a risk: there has been a sharp reduction in interest only loans since APRA strengthened lending standards; debt servicing payments as a share of income have actually fallen slightly over the last decade and Census data shows that the share of owner occupier households with a mortgage for which debt servicing is above 30% of income has fallen from 28% in 2011 to around 20%; a significant number of households with a mortgage are ahead on their repayments; and banks non-performing loans remain low. While there has been some deterioration in lending standards it does not appear to be anything like that seen with NINJA (no income, no job, no assets) loans in the US prior to the GFC.</p>
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<p><span>Finally, it is dangerous to generalise. Property prices have surged in Sydney and Melbourne but have fallen in Perth and Darwin and have seen only moderate growth in other capitals. </span></p>
<p><span>To see a property crash we probably need much higher interest rates or unemployment (neither of which are expected) or a continuation of recent high construction for several years (which is unlikely as approvals have cooled from their 2016 highs). </span></p>
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<p><span>Outlook </span></p>
<p><span>A further tightening in lending standards as banks get tougher on borrowers’ income and living expense levels along with rising supply and more realistic capital growth expectations by home buyers will see Sydney and Melbourne property prices </span>fall another 5% or so this year with further falls likely next year. </p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/downturn.jpg" target="_blank">to enlarge.</a></p>
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<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/downturn.jpg" alt=""></span></p>
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<p><span>Adelaide and Canberra, but it may pick up a bit in Brisbane thanks to stronger population growth and the boom in Hobart has a way to go yet. </span></p>
<p><span>Regional centres are likely to provide relatively faster capital growth reflecting weaker supply and offering more attractive rental yields (around 1.5 percentage points higher than in cities). Units are at greater risk given surging supply, but so far house prices have slowed more in Sydney and Melbourne. </span></p>
<p><span>The property cycle and the economy </span></p>
<p><span>A slowdown in the housing cycle can affect the broader economy via slowing dwelling construction, negative wealth effects on consumer spending and via the banks if mortgage defaults rise. However, as things currently stand the drag from housing construction is likely to be minimal – building approvals don’t point to a collapse in new construction (see the next chart) and it looks like alterations and additions will rise, negative wealth effects will weigh on consumers but not dramatically if we are right, and in the absence of a property price crash the impact on the banks will be manageable. Finally, other sectors of the economy are taking over from housing, eg business investment and state capital works, as being growth drivers. </span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/appr.jpg" target="_blank">to enlarge</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/appr.jpg" alt=""></span></p>
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<p><span>Implications for investors </span></p>
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<p>There are several implications for investors:</p>
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<p><span>• </span><span>Firstly, over the very long term residential property adjusted </span>for costs has had a similar return to Australian shares (see next chart). Its low correlation with shares, lower volatility but lower liquidity makes it a good portfolio diversifier. So, there is clearly a role for property in investors’ portfolios. </p>
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<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/assets.jpg" target="_blank">to enlarge</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/assets.jpg" alt=""></span></p>
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<p><span>Secondly, there remains a case to be cautious regarding housing as an investment destination for now. It is expensive on all metrics and offers very low income (rental) yields compared to other growth assets. This means a housing investor is more dependent on capital growth. </span></p>
</li>
<li>
<p><span>Thirdly, these comments refer to Australian housing overall but it’s dangerous to generalise. Other cities and regional property are far more attractive than Sydney &amp; Melbourne. </span></p>
</li>
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<p><span> <span class="s1"><a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author"><em>SHANE OLIVER</em></a></span><span class="s2"><em> is head of investment strategy and economics and chief economist at </em><a href="https://www.ampcapital.com.au/home"><span class="s1"><em>AMP Capital</em></span></a><em> and is responsible for AMP Capital's diversified investment funds.</em></span></span></p>
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<p><span> </span></p>
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soliver-smf6LQXgW9

Falling prices in Sydney and Melbourne - is this the crash?

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<p>The nation's top sale was on Sydney's upper North Shore when a Pymble home was snapped up pre-auction for $6.5 million.</p>
<p>It sold to a family from China who saw the property just three days before they exchanged.</p>
<p>Menton, marketed as a French Provincial-style oasis, came with saltwater pool, N/S tennis court, and a climate controlled 2,100 bottle wine cellar.</p>
<p><a id="x_mcntLPlnk442456" href="https://www.realestate.com.au/sold/property-house-nsw-pymble-127813398" target="_blank">The 1726 sqm property</a> (above and below) last traded at $2.8 million in 2002.</p>
<p>The vendors decided to take the offer, which was at the high end of their expected range rather than go to auction.</p>
<p>"It's a 'bird in the hand' at the moment," the upper North Shore selling agent told Fairfax Media.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/pymble1.jpg" alt=""></p>
<p>Sydney also saw the sale of <a id="x_mcntLPlnk755832" href="https://www.realestate.com.au/property-house-nsw-hunters+hill-126659642" target="_blank" rel="noopener noreferrer">23 Lyndhurst Crescent, Hunters Hill</a>, a five bedroom riverfront home which sold for $6.18 million.</p>
<p>But its sale was at below the $6.2 million price guidance. It was even further<span> down on the $7.6 million guide figure given last October, when it was initially listed for sale.</span></p>
<p><span>It sold to cake makers from <span>Greenacre, <span>one of the three who participated in Saturday’s auction after six had registered, The Sunday Telegraph reported.</span><br></span></span></p>
<p>Sydney's preliminary success rate sat at 67 percent. </p>
<div>Sydney's result from 775 auctions saw a steady 67 percent clearance rate on the prior weekend, but down on the 77 percent at this time last year.</div>
<div> </div>
<div>The nation's strongest clearance rate was in Melbourne, according to CoreLogic, at 69 percent.</div>
<div> </div>
<div>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/10/auction-wrap.jpg" target="_blank">to enlarge.</a>
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<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/auction-wrap.jpg" alt=""></div>
<p>Melbourne had some 720 homes listings, increasing on last week’s 65.5 per cent final clearance rate when there was a much lower 152 auctions held given the Easter break.</p>
<p>The auction of dual premiership player Thorold Merrett’s Doncaster East home saw a $1.12 million result.</p>
<p>Philip Webb auctioneer Anthony Webb said local downsizers secured <a id="x_mcntLPlnk103044" href="https://www.realestate.com.au/sold/property-townhouse-vic-doncaster+east-127754922" target="_blank" rel="noopener noreferrer">the single-level three-bedroom townhouse</a>. </p>
<p>Merrett, a two-time premiership player in the 1950s, told the Herald Sun he would miss the neighbourhood.</p>
<p>The agency had been quoting $900,000 to $990,000, with six bidders taking the price well beyond.</p>
<p>CoreLogic records indicated it last sold in 2007 at $575,000.</p>
<p>Melbourne's top sale was in Williamstown.</p>
<p>The three bedroom house at <a id="x_mcntLPlnk621219" href="https://www.realestate.com.au/property-house-vic-williamstown-127753482" target="_blank" rel="noopener noreferrer">218 Osborne St, Williamstown</a> fetched $3.02 million.</p>
<p>Corinda, set in South Williamstown, had been listed with $2.7 million to $2.8 million price guidance.</p>
<p>The nation's cheapest auction was at <a id="x_mcntLPlnk890323" href="https://www.realestate.com.au/property-unit-vic-thornbury-127780190" target="_blank" rel="noopener noreferrer">8/54 Martin Street, Thornbury</a> for $335,000. The Melbourne sale fell within the price guidance range of $315,000 to $340,000 for the one bedroom 1970s apartment.</p>
<p>CoreLogic put its last sale price as $249,500 in 2002.</p>
<p>The Canberra clearance rate fell to just 59 percent, which was the nation's third strongest success rate with 88 homes listed.</p>
<p class="x_mcntfirst-para">A 1960s Griffith home on one of Canberra’s prestigious streets, constructed of stone, brickwork and Australian timbers, fetched its highest price.</p>
<p class="x_mcntfirst-para">The 26 Jansz Crescent offering fetched $1.641 million, with Domain noting it was announced on the market at $1.610 million.</p>
<div class="x_mcntin-content-ad">Held by the same family for 57 years, the four-bedroom, one-bathroom home on 1106 sq m had eight registered bidders.</div>
<div class="x_mcntin-content-ad"> </div>
<div class="x_mcntin-content-ad">The official land value was $953,000.</div>
<div class="x_mcntin-content-ad"> </div>
<div class="x_mcntin-content-ad">Adelaide also recorded a success rate of 59 percent from 93 homes listed.</div>
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<div>The Brisbane market had a 40 per cent clearance rate from the 91 homes listed for auction. </div>
<div> </div>
<div>A Georgian-style home at Chelmer sold under the hammer, fetching $1,675,000 through Brad Robson of Place Real Estate.</div>
<div> </div>
<div>The five bedroom property at <a id="x_mcntLPlnk629838" href="https://www.realestate.com.au/property-house-qld-chelmer-127736178" target="_blank" rel="noopener noreferrer">2 Morley Street</a> sold to an upsizing local couple.</div>
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<a id="x_mcntLPlnk118395" href="https://www.realestate.com.au/property-house-qld-camp+hill-127791470" target="_blank" rel="noopener noreferrer">A newly built four bedroom Camp Hill home </a>was among Brisbane's top sales at $1.05 million.</div>
<div> </div>
<div>At Carindale a $1.35 million offer for <a id="x_mcntLPlnk562954" href="https://www.realestate.com.au/property-house-qld-carindale-127834386" target="_blank" rel="noopener noreferrer">a three-storey, four bedroom home</a> at 45 Nelson Place was not enough to secure a sale, with the auction ending on a $1.5 million vendor bid.</div>
<div>
<p>The home was the project of Steve Stamatiou, a builder at Mati Constructions, and his wife Andrea, with the Courier Mail reporting they built the home over seven months in the French provincial architecture style. </p>
<p>The 518 sqm building block had cost $535,000 in 2016.</p>
<p>It came with a four-metre-long ‘White Princess’ Granite breakfast bar, full suite of European appliances and a butler’s pantry so large that it almost doubles as a second kitchen, the marketing by Place agent Denis Najzar said.</p>
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<div>After the Easter slowdown, the national preliminary clearance rate rose along with higher volume of auctions with 1,813 homes taken to market returning a 65.3 per cent success rate.</div>
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<div>The higher activity followed the Easter period slowdown which saw only 670 auctions held across the capitals and a 64.8 per cent final auction clearance rate.</div>
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<div>Overall results by property type, saw 70 per cent of units selling at auction this week, which was higher than houses which returned a 63.4 per cent clearance rate.</div>
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Chinese buyers secure top weekend auction offering 

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<p>Trends across the March quarter showed that capital city home values were 0.9% lower over the March quarter, while values across the regional markets tracked 1.1% higher.</p>
<p>Regional markets are now consistently outperforming the combined capitals, according to CoreLogic head of research Tim Lawless. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/3/CORELOGIC%20DWELLING%20VALUES%20.jpg" alt=""></p>
<p>“The stronger combined regional markets performance continues a trend that began to emerge in October last year where regional housing markets showed an overall improvement in the pace of capital gains while the combined capitals trend softened,” Lawless said.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/3/CORELOGIC%20COMBINED%20CAPITALS%20.jpg" alt=""></p>
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Regional markets are now consistently outperforming the combined capitals

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<p>The Lennox Parramatta, a mixed-use riverside development, will comprise 441 studio, one, two, three and four-bedroom residences.</p>
<p>Residences will range from 40 square metres to 206 square metres internally with prices starting at $495,000 to more than $3.5 million for the development’s opulent SkyVillas.</p>
<p><a href="https://www.realestate.com.au/project/the-lennox-parramatta-600016030" target="_blank">The project </a>also includes 5,500 square metres of retail and mixed-use space and eight levels of basement parking.</p>
<p>The tower’s slender reflective glass form has an expected construction completion date in late-2020. </p>
<p>Located at the junction of the historic Lennox Bridge and Parramatta’s Church Street dining and shopping precinct, the $450 plus million project will rise 47 levels.</p>
<p>It is the result of a Project Development Agreement by the City of Parramatta and PCC DevCo1 Pty Ltd, with development management by EQ Projects. </p>
<p>The design is by architects, Marchese Partners, with the styling by Lorena Gaxiola.  </p>
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Lorena Gaxiola decor at The Lennox Parramatta with pricing from $495,000

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<p>A large two storey house in Blackwater, a town in the significant coal mining area in Central Queensland, has been sold for $67,000.</p>
<p>It was sold at mortgagee auction by Jason Campbell from Blackwater Real Estate.</p>
<p>It previously sold at $275,000 in 2007, but now badly affected by termites.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/10/termites.jpg" alt=""></p>
<p><a href="https://www.propertyobserver.com.au/https:/www.realestate.com.au/sold/property-house-qld-blackwater-127722786" target="_blank">Situated on 4 Conachan St</a>, the house features three bedrooms upstairs, well-equipped kitchen, and two rumpus/utility rooms.</p>
<p>It comes with the fenced established yard, polished timber floors and four parking spaces. </p>
<p>According to CoreLogic, the suburb's median house price sits on $88,750.</p>
<p>Campbell says the market is strengthening with plenty of sales occurring and demand for rentals and sale properties in demand.</p>
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Mining town Blackwater three bedroom house sold by mortgagee

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<p>Apartment approvals are now declining quite quickly in Sydney, while confidence is picking up off the mat in Brisbane, especially for tonwhouses and semi-detached dwellings.</p>
<p>The latest ABS figures relate to the month of February, but with more and more new apartments failing to value up at completion it's only a matter of time before unit approvals in Sydney decline further. </p>
<p><a href="https://2.bp.blogspot.com/-8KDQ7ddnUSs/WsRdTaQ0IOI/AAAAAAAApQU/q0yQ91byCVooH8yyLXqJ2FwjMW0P4VwhwCLcBGAs/s1600/BA1.jpg"><img src="https://2.bp.blogspot.com/-8KDQ7ddnUSs/WsRdTaQ0IOI/AAAAAAAApQU/q0yQ91byCVooH8yyLXqJ2FwjMW0P4VwhwCLcBGAs/s640/BA1.jpg" width="640" height="380" data-original-height="826" data-original-width="1389"></a></p>
<p>Approvals for houses are generally mirroring internal migration trends, with Brisbane and Melbourne attracting the most migrants from elsewhere in Australia, but Perth having experienced an outflow of residents. </p>
<p><a href="https://3.bp.blogspot.com/-oGVxuL_jhSk/WsRdUBBuVYI/AAAAAAAApQY/pME7lZ0_Aoc1jfP1KEyDkBw0yDp_9VfvQCLcBGAs/s1600/BA2.jpg"><img src="https://3.bp.blogspot.com/-oGVxuL_jhSk/WsRdUBBuVYI/AAAAAAAApQY/pME7lZ0_Aoc1jfP1KEyDkBw0yDp_9VfvQCLcBGAs/s640/BA2.jpg" width="640" height="392" data-original-height="834" data-original-width="1361"></a></p>
<p>Totting it all up, there is little evidence yet of a bust in residential construction, with more than 221,000 dwellings approved over the year to February 2018, although we are now well off the peaks.</p>
<p><a href="https://1.bp.blogspot.com/-it32l-EqSPE/WsRdUY4ci5I/AAAAAAAApQc/KDL6ZydBID8gE7uam94uoebYb7s_RRgeACLcBGAs/s1600/BA3.jpg"><img src="https://1.bp.blogspot.com/-it32l-EqSPE/WsRdUY4ci5I/AAAAAAAApQc/KDL6ZydBID8gE7uam94uoebYb7s_RRgeACLcBGAs/s640/BA3.jpg" width="640" height="390" data-original-height="822" data-original-width="1343"></a></p>
<p>The high-rise apartment sector has also calmed down a bit now, with a notable shift towards more approvals for family appropriate dwellings, such as terraces, semi-detached homes, townhomes, and low-rise apartments. </p>
<p><a href="https://1.bp.blogspot.com/-QZ6ps6FvdDw/WsRdVAttpII/AAAAAAAApQg/5k1Gf7mxpFojj7zk6h6wmhVDUy8hPYzMACLcBGAs/s1600/BA4.jpg"><img src="https://1.bp.blogspot.com/-QZ6ps6FvdDw/WsRdVAttpII/AAAAAAAApQg/5k1Gf7mxpFojj7zk6h6wmhVDUy8hPYzMACLcBGAs/s640/BA4.jpg" width="640" height="376" data-original-height="818" data-original-width="1390"></a></p>
<p><strong>Commercial boom</strong></p>
<p>Another point of note is that the annual value of non-residential building approvals have boomed to their highest ever level at just shy of $48 billion, keeping building activity sustained at a high level in 2018. </p>
<p><a href="https://3.bp.blogspot.com/-OxEGALI23aw/WsRdVj_BsmI/AAAAAAAApQk/i5do43xTYv0coyJHxWhLkwxGhhWshhK7ACLcBGAs/s1600/BA5.jpg"><img src="https://3.bp.blogspot.com/-OxEGALI23aw/WsRdVj_BsmI/AAAAAAAApQk/i5do43xTYv0coyJHxWhLkwxGhhWshhK7ACLcBGAs/s640/BA5.jpg" width="640" height="380" data-original-height="818" data-original-width="1377"></a></p>
<p>There has been record activity across approvals for warehouses, offices, schools, universities, and aged care facilities. </p>
<p>This is a positive signal, for there will be a significant hole to plug as Sydney apartment construction fades. </p>
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pwargent-M4siyDbqQY

Sydney building approvals declining quickly: Pete Wargent

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<p>A Shepparton five bedroom house, partially gutted, has been listed for mortgagee sale.</p>
<p>It comes with a indicative selling price of $140,000, and has just gone under contract.</p>
<p>It last sold at $153,000 in 2009.</p>
<p>The northern Victorian home has been listed by Matthew Giffin from Ruralco Property Goulburn Valley Region.</p>
<p>The auction had been scheduled for April 7.</p>
<p>Set on a 787 square metre block, <a href="https://www.realestate.com.au/property-house-vic-shepparton-127797910" target="_blank">the 256 Archer Street home </a>comes with five bedrooms, sun room and covered outdoor patio.</p>
<p>It is close to schools, shops and transport.</p>
<p>The suburb's median house price sits on $258,000, according to CoreLogic.</p>
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Five bedroom Shepparton house listed by mortgagee

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<p>Despite strengthening underlying demand from the perspective of people wanting to occupy apartments in the Inner Brisbane Apartment (IBA) area, record levels of new apartment completions have tipped the market into oversupply. This has placed downwards pressure on rents and prices. This paper profiles indicators relating to demand, supply, rents and prices.</p>
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<p><span>Development in Inner Brisbane occurs mainly in large scale </span>and high rise projects in the following locations:</p>
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<p><span>CBD/Spring Hill </span></p>
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<p><span>Inner North </span></p>
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<p><span>Woolloongabba </span></p>
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<div class="section">Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/IBA1.jpg" target="_blank">to enlarge.</a>
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<p><span>APARTMENT PROFILE </span></p>
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<p><span>According to recently released 2016 Census data, private rental apartments accounted for 56% of the total apartment stock in the IBA area. This was considerably higher than the 33% share in the Greater Brisbane region. This highlights a strong preference for investors to purchase apartments in the </span>IBA. The share of private rental stock has also increased from the 54% recorded in the 2011 Census. Owner occupied dwellings formed 27% of IBA area stock, with a slightly greater share of these having a mortgage (being purchased).</p>
<p>Conversely, a significantly higher 59% of Greater Brisbane dwellings were owner occupied. Unoccupied dwellings—properties that are second homes or kept empty as a speculative investment—comprised 17% of total apartment stock across the IBA area, compared to 8% across Greater Brisbane. The increased number of unoccupied dwellings is reflective of the rising level of overseas demand, with many of these properties not entering the private rental market.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/iba2.jpg" target="_blank">to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/5/iba2.jpg" alt=""></p>
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<p><span>DEMAND PROFILE </span></p>
<p><span>The age profile of IBA apartment residents indicate that people first rent when moving into the IBA area, with 60% of rental households at the 2016 Census consisting of occupants aged 20 to 34 years old. If people remain in, or move into, the IBA area beyond 34 years of age, there is a far higher propensity to purchase an apartment.</span></p>
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<p><span>Households with a mortgage were mostly younger, with 52% of these apartment occupants aged 30 to 54 years old. Whilst within fully owned apartments in the IBA area, the demographic was much older, with 68% of occupants in these apartments aged 50 years old and over. </span></p>
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<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/iba3.jpg" target="_blank">to enlarge</a></p>
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<p><span>SUPPLY PIPELINE </span></p>
<p><span>Sustained demand for apartment stock within the IBA area, with moderate growth from 2013 onwards can be attributed to attractive yields, low or volatile returns for other investments and low interest rates. The rise in off–the–plan sales allowed a greater number of projects to reach sufficient pre–commitment levels to obtain finance and begin construction. As a result, the IBA area has experienced a surge in apartment completions, with a record number of completions occurring each year in 2014/15, 2015/16 and 2016/17. Last year 5,700 apartments were completed, while in 2017/18 we estimate that approximately 8,300 apartments will be completed; a new record annual level of apartment completions. As a result, vacancy rates in Inner Brisbane have been rising and were 4% in December quarter 2017. </span></p>
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<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/supply1.jpg" target="_blank">to enlarge</a></p>
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<p><span>Falling rents and price growth has led to a softening in investor demand. Coupled with restrictions on interest only loans (a mainstay of investors) and the Queensland government introducing a stamp duty surcharge for overseas investors, we expect to see significantly fewer projects being able to achieve the pre-sales requirements for projects to commence. Sharply rising construction costs have also meant that developer’s margins have been eroded, impacting the next round of projects, particularly if there is a slump in prices making planned projects no longer viable.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/supply2.jpg" target="_blank">to enlarge</a></p>
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<p><span>A marked trend through 2017/18 has been for developers to abandon or defer projects still in the planning stage. Across the IBA area, 52 projects amounting to well over 10,000 apartments were abandoned or deferred. Some investor demand for IBA apartment stock may be supported by its relative affordability in comparison to equivalent apartment stock in Melbourne and Sydney, although this is unlikely to absorb substantial new apartments stock while the market is in oversupply. </span></p>
<p><span>IBA area completions are expected to fall slightly in 2018/19 and are then expected to revert closer to the longer term average of around the 2,000 completions per annum. Of all IBA precincts, the </span><span>West End, CBD </span><span>and the </span><span>Inner North </span><span>will see the highest number of apartments come to market. This will be followed by </span><span>Toowong </span><span>and </span><span>Woolloongabba</span><span>, with a relatively small number of apartments to come online in the </span><span>Inner East </span><span>and </span><span>Hamilton </span><span>precincts. </span></p>
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