<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>Positioned between the town and coast, a Qunaba four bedroom house in Queensland has been sold by mortgagees for $325,000.</p>
<p>It was sold by Jonathon Olsen from LJ Hooker in the Bundaberg region.</p>
<p>It had last sold for $390,000 in 2013.</p>
<p>The rental price was $350 a week in 2015.</p>
<p>Set at<a href="https://www.realestate.com.au/sold/property-house-qld-qunaba-126846094" target="_blank"> 21 Panorama Drive</a>, the property comes with four bedrooms, timber kitchen, three bay remote control garage and outdoor covered entertainment area.</p>
<p>Other features include split system air-conditioner, panels solar and solar hot water system.</p>
<p>According to CoreLogic, the suburb's median house price sits on $335,000.</p>
<p><span><span> </span></span></p>
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j.ballantyne1990-6AQqhLzZaK

Loss making Qunaba, Queensland four bedroom home, sold by mortgagee

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<p>A two-level, four bedroom apartment in Richmond, Victoria, listed with $1,050,000- $1,150,000 hopes for March auction, remains for sale at $1.15 million.</p>
<p>With views out to Studley Park,<a href="https://www.realestate.com.au/property-apartment-vic-richmond-127646350" target="_blank"> t</a><a href="https://www.realestate.com.au/property-apartment-vic-richmond-127646350" target="_blank">he 41/8 Hull St apartment </a>comes with four bedrooms,  expansive living with balconies, and family-sized kitchen.</p>
<p>It last sold at $562,000 in 2005.</p>
<p>It is close to public transport, the Epworth Hospital and Melbourne Girls' College.</p>
<p>Jellis Craig marketed it as having a <span>massive top-floor entertainer's terrace with northern views out to Studley Park.</span></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/2018/3/23/RICHMOND%201.jpg" alt=""></p>
<p>It has been a rental offering, with the asking price most recently $890 a week in early 2017.</p>
<p>It was offered at $950 in late 2014.</p>
<p>It was first offered in 2010 at $920.</p>
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Richmond two-level apartment for sale at $1.15 million

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<div>Australasia’s biggest property group, <span id="0.7442116941323146" class="highlight">Ray</span> <span id="0.2038638881688163" class="highlight">White</span>, is preparing itself for what is tracking to be the industry’s busiest weekend of auctions so far in 2018.</div>
<div> </div>
<div>A total 3,689 auctions are scheduled to take place this week across the capital cities, according to CoreLogic, a traditional rise in auctions occurring in the week prior to Easter. </div>
<div> </div>
<div>Melbourne will host the highest number of auctions out of all capital cities with 1,934 homes going under the hammer, which will make it the second busiest week on record for the city.</div>
<div> </div>
<div>
<div>One of Brunswick’s most charming homes (above) is scheduled to go to auction on Saturday at midday (AEDT).</div>
<div> </div>
<div>
<span id="0.5470571188022452" class="highlight">Ray</span> <span id="0.04650709860855462" class="highlight">White</span> Brunswick sales agent Alex Ilyin said no expense was spared in the build of <a href="https://www.realestate.com.au/property-house-vic-brunswick-127675706" target="_blank">32A Thistle St.</a>
</div>
<div> </div>
<div>The modern three bedroom build is full of elegant period features, from the high kickboards to a traditional fireplace.</div>
<div> </div>
<div>“Everything is done to a premium standard,” Mr Ilyin said. </div>
<div> </div>
<div>“Interest has been really great, and it’s generally come from people transitioning from their first purchase, so a lot of young professionals.”</div>
<div> </div>
<div>There’s a price guide attached to 32A Thistle St, Brunswick of around $1,150,000 to $1,250,000, in line with the Statement of Information.</div>
<div> </div>
<div>
<div>Another exciting Melbourne auction is scheduled for 1pm at 22A Bringa Ave, Camberwell.</div>
<div> </div>
<div>Marketed by <span id="0.9239246109726515" class="highlight">Ray</span> <span id="0.2920828070509026" class="highlight">White</span> Box Hill’s Jeremy Tyrrell, the single-level villa is appealing to buyers looking for the perfect downsize option or families wanting convenient access to Camberwell High and Melbourne's private school belt.</div>
<div> </div>
<div>
<div>To South Australia, where 9kms northwest of Adelaide’s CBD is a 1955 three bedroom home (above) scheduled to go under the hammer on Saturday morning. </div>
<div> </div>
<div>Marketed by <span id="0.5852751586754685" class="highlight">Ray</span> <span id="0.1725198935404344" class="highlight">White</span> Adelaide’s George Kargiotis, 17 Shirley Ave at Woodville West is expected to draw a solid auction crowd comprised mainly of first-home buyers.</div>
<div> </div>
<div>“The owner has renovated the home which now has polished floors, fresh paint, a new second bathroom and kitchen,” Mr Kargiotis said.</div>
<div> </div>
<div>
<div>In Western Australia, <span id="0.0474139130819774" class="highlight">Ray</span> <span id="0.6499063051478601" class="highlight">White</span> North Quays principal Scott Langley is managing the auction of a Kallaroo tri-level home (above).</div>
<div> </div>
<div>The 827sq m coastal property is at 4 Woolwich Close, around 25kms outside of Perth’s CBD.</div>
<div> </div>
<div>“It’s a great street, located in the Northshore Estate, and near parks and the newly refurbished shopping centre,” Mr Langley said.</div>
<div> </div>
<div>“Most interested people are looking to renovate as it’s a great project home to renovate with the bonus option of subdividing and building three new dwellings.”</div>
<div> </div>
<div>
<div>
<span id="0.5910561449481334" class="highlight">Ray</span> <span id="0.9265340774103629" class="highlight">White</span> Coorparoo principal Cliff Tarr is looking forward to Saturday’s auction of a Brisbane home (above) which has been held by the same family since 1964.</div>
<div> </div>
<div>The 885sq m corner block of land with a three bedroom house at 109 Albert St is in the popular suburb of Camp Hill, around 8km to the CBD.</div>
<div> </div>
<div>“Land is gold in Camp Hill,” Mr Tarr said.</div>
<div> </div>
<div>“It’s one for families looking for a big block, or developers.</div>
<div> </div>
<div>“Camp Hill has a very strong volume of owner-occupier houses, great parks, elevation, city views, and it’s just a beautiful spot close to everything.”</div>
<div> </div>
<div>
<div>Down the M1 highway, <span id="0.771749667243177" class="highlight">Ray</span> <span id="0.011798626151508618" class="highlight">White</span> Mermaid Beach’s Troy Dowker is taking a classic Gold Coast beach house (above) to auction on Saturday afternoon.</div>
<div> </div>
<div>The 506sq m oceanfront block is at 120 Pacific Pde, Bilinga.</div>
<div> </div>
<div>“Bilinga is probably one of the more high demand suburbs, not only on the Gold Coast but across Queensland,” Mr Dowker said.</div>
<div> </div>
<div>“Lots of people love the tranquillity and charm of the southern Gold Coast.”</div>
<div> </div>
<div>The four bedroom, two bathroom home has a deck overlooking the ocean, a large backyard for kids, while there’s also direct access to the beach.</div>
<div> </div>
<div>
<div>Meantime, <span id="0.198446465824914" class="highlight">Ray</span> <span id="0.8808428398185644" class="highlight">White</span> Lane Cove principal Paul Nees is taking a five bedroom, two bathroom Riverview home with a premier north aspect to auction on Saturday morning.</div>
<div> </div>
<div>The rare 965sq m property, at 1 Carranya Rd, has a current approved development application to extend the house, although Mr Nees said the dual-level residence already offers plenty of space.</div>
<div> </div>
<div>“The house itself is a great size, plus it has a swimming pool,” Mr Nees said.</div>
<div> </div>
<div>“It’s within walking distance to Saint Ignatius College, which is a big drawcard.</div>
<div> </div>
<div>“It’s an area with a lot of parkland and it attracts families because of the desirable school catchment.”</div>
<div> </div>
<div>Mr Nees expects the property to sell at the top of the auction’s $2.5 million to $2.75 million price guide. </div>
<div> </div>
<div>Riverview is a small established suburb on the shores of Sydney’s Lane Cove River.</div>
</div>
</div>
</div>
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Ray White's pre-Easter Super Saturday offerings

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<div>
<p>Sydney has the nation's most evenly distributed new apartment market which puts it at less risk of inner city oversupply, the 2018 UDIA State of the Land Report suggests. </p>
<div title="Page 4">
<div>
<div>
<p>Sydney accounted for 28% of total market supply in 2017 with 37,740 lots/multi-units completions, which reflected a similar production output to 2016 but a 48% uplift on 2014 </p>
</div>
</div>
</div>
<p>Just over a fifth of new Sydney unit completions (apartments, townhouses and terraces) were within five kilometres of the city centre in 2017.</p>
<p>It compared to almost half of all Melbourne unit completions.</p>
<p data-gtm-vis-first-on-screen-7770372_137="2971" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">In Adelaide and Brisbane almost two-thirds of new unit completions were within their respective five kilometre inner rings.</p>
<div title="Page 4">
<div>
<div>
<p>Population growth, or lack of it, is the primary driver of demand for new dwellings, the report noted.</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/2018/3/23/UDIA%201.jpg" alt=""></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/2018/3/23/UDIA%202.jpg" alt=""></p>
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</div>
</div>
<p>The UDIA said a third of new Sydney units were within 5 to 10 kilometres of the CBD, 28 per cent of completions were 10 to 20 kilometres out and 18 per cent of completions were as far as 50 kilometres from the centre of town, according to data compiled for the report by CoreLogic.</p>
</div>
<div>
<div id="article-inline-ad">The UDIA report also found that new multi-unit completion (10 units or more) hit a record 77,365 in 2017, up 8 per cent on 2016 and 64 per cent higher than three years ago.</div>
</div>
<div>
<p>Most of this growth was due to a 25 per cent rise in Melbourne unit completion which reached 25,900 last year, just below the 28,300 units completed in Sydney.</p>
<p>It noted the heighted levels of new residential supply being delivered had been led by Melbourne which recorded a total production of almost 49,000 lots/multi-units in 2017, which was up 96% on 2014.</p>
<div title="Page 4">
<div>
<div>
<p>Melbourne’s total market output accounted for 37% of the combined capital city lots/multi-unit production in 2017. </p>
</div>
</div>
</div>
<p data-gtm-vis-recent-on-screen-7770372_137="9975" data-gtm-vis-first-on-screen-7770372_137="9975" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">Brisbane's unit market fell 3 per cent over the year to 11,900 completions while Perth slumped 38 per cent to just under 5000 completions.</p>
<p>Among the smaller unit markets, Adelaide completed 2130 units, up 39 per cent, with Canberra's new unit market doubling to 4100 units last year.</p>
<div title="Page 4">
<div>
<div>
<p>Residential supply from Perth has retracted sharply over the last three years, with the 2017 output of 11,900 lots/multi-units representing 9% of national capital city supply, down from the 16% national market share with 17,900 lots/multi-units in 2015. </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/2018/3/23/UDIA%203.jpg" alt=""></p>
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UDIA says spread of Sydney apartment construction would reduce oversupply risks

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<p>The Gold Coast region was the busiest non-capital city region last week, with 53 auctions; however Geelong recorded the strongest clearance rate at 80 per cent, according to CoreLogic.</p>
<p>Click here<a href="https://www.propertyobserver.com.au/images/2018/3/16/clearance%202.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/2018/3/16/clearance%202.jpg" alt=""></p>
<p>A townhouse in Geelong sold at auction for $461,000 (pictured below).</p>
<p><span>The home was sold by Peter Fort from Whitford.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-vic-geelong-127592414">12/203-207 Little Malop Street</a> unit offers two bedrooms, central bathroom and open living with private courtyard.</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/2018/3/16/geelong.jpg" alt=""></span></p>
<p><span>Located in the heart of Geelong CBD, it is within walking distance of Westfield, restaurants, parkland, the waterfront and the hospital precinct.</span></p>
<p><span> </span></p>
<p> </p>
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Geelong auction market remains strong 

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<p dir="ltr"><span>Warren Ginsberg, from Ray White Double Bay, finished last week in a flurry with a trifecta of sales <span class="aBn" data-term="goog_495084649"><span class="aQJ">on Friday</span></span> to seal four contracts <span class="aBn" data-term="goog_495084650"><span class="aQJ">in four days</span></span> to the value of $11.2 million.</span></p>
<p dir="ltr">A timeless residence at <a id="m_-6465388716788642138LPlnk206200" href="https://maps.google.com/?q=50+Olola+Ave,+Vaucluse&amp;entry=gmail&amp;source=g" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://maps.google.com/?q%3D50%2BOlola%2BAve,%2BVaucluse%26entry%3Dgmail%26source%3Dg&amp;source=gmail&amp;ust=1521758800931000&amp;usg=AFQjCNHU-QvA3-p123qQh9kayfvOYYUydA"> 50 Olola Ave, Vaucluse</a> received significant interest, with 132 enquiries across three weeks (pictured below).</p>
<p dir="ltr"><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/2018/3/23/Original31412505.jpg" alt=""></span></p>
<p dir="ltr">Ginsberg said he was happy with the quick nature of these premium sales.</p>
<p dir="ltr">“For three out of the four sales last week, the average time on market was 17 days giving confidence the market is still strong,” Ginsberg said.</p>
<p dir="ltr">“We’ve seen double-digit growth for many years now, so it was inevitable a general price decrease was looming, however I’m confident the market can still offer great returns based on the low days on market.”</p>
<p dir="ltr">The Studdy family sold <a id="m_-6465388716788642138LPlnk118069" href="https://maps.google.com/?q=480+Old+South+Head+Rd,+Rose+Bay&amp;entry=gmail&amp;source=g" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://maps.google.com/?q%3D480%2BOld%2BSouth%2BHead%2BRd,%2BRose%2BBay%26entry%3Dgmail%26source%3Dg&amp;source=gmail&amp;ust=1521758800932000&amp;usg=AFQjCNEkuKY4EXKz1Ot9_JBF0gWVsXwvKg"> 480 Old South Head Rd, Rose Bay</a> (pictured below).</p>
<p dir="ltr"> </p>
<p dir="ltr"><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/2018/3/23/Original31474663.jpg" alt=""><br></span></p>
<p dir="ltr"><span>“As a mortgage broker, I’ve seen the average time on market up to 40 days in some instances and for Warren to exchange within half that time and exceed our asking price by 13 per cent is really incredible,” Oliver Studdy said.</span></p>
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Quick Olola Avenue, Vaucluse sale

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<p class="p1">Apartments in Brisbane are continuing to achieve significantly higher yields than those in Sydney and Melbourne, with Consolidated Properties reporting it has tenanted all available apartments in its newly-completed inner city Spire development at an average yield topping five per cent.</p>
<p class="p1"><span class="s1">The result includes 27 furnished apartments in the $200 million residential building - one of only two towers to be recently completed in the heart of Brisbane City - that Consolidated Properties has rented at yields of 5.6 per cent and above.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">According to Urbis director Paul Riga, yields across inner Brisbane remain high at an average of 4.5 per cent, with Sydney and Melbourne trailing at 3.8 and 4 per cent respectively.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">Mr Riga said solid yields were supported by high absorption of quality rental stock, with recent research showing the forecast future pipeline of inner Brisbane apartments was shrinking,<span class="Apple-converted-space">  </span>boding well for the strength of the rental market in the short to medium term.</span></p>
<p class="p1"><span class="s1">"Perceptions of an oversupply in the inner city are really off target - demand has remained<span class="Apple-converted-space">  </span>solid and the market is normalising in terms of the future development pipeline," he said.</span></p>
<p class="p1"><span class="s1">"Our latest Inner Brisbane Apartment Rental Review shows the new apartment vacancy rate is just 2.8 per cent.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">"Although there were a record number of apartment settlements in 2017, vacancy rates have not jumped through the roof as predicted by some, and we expect rental demand will remain solid as the number of new apartment approvals has dropped significantly from a high of about 11,000 in 2015.</span></p>
<p class="p1"><span class="s1">"Most of this stock has now been completed and occupied, and we saw just 3,141 new approvals in 2017 - which is only slightly higher than the approximately 2,000 approvals in 2011 and 2012, at the bottom of the market."</span></p>
<p class="p1"><span class="s1"><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/2018/3/22/bris1.jpg" alt=""></span></p>
<p class="p1"><span class="s1">Consolidated Properties executive chairman Don O'Rorke (below) said Spire's outpacing of inner Brisbane's average yield - in itself already the highest among eastern seaboard capitals - showed that quality buildings well located in the Brisbane CBD continued to perform strongly.</span></p>
<p class="p1"><span class="s1">He said all apartments available for lease in Spire that were under Consolidated Properties’ management had been tenanted following completion in September (2017) of the landmark building, situated on Queen Street in the heart of the city.<span class="Apple-converted-space">  </span>In total, Spire features 340 one and two bedroom apartments.</span></p>
<p class="p1"><span class="s1">"There has been a lot of talk of an oversupply in the Brisbane apartment market - but quite simply put, you don't achieve yields of the level we have in an oversupplied market and in fact, they point more towards an undersupply," he said.</span></p>
<p class="p1"><span class="s1">"We had a waiting list of prospective tenants before the building was even completed and, in many cases, investors had several choices of who to lease their apartment to.<span class="Apple-converted-space">  </span>We actually still have a waiting list of prospective tenants keen to lease any more apartments that become available in the building.</span></p>
<p class="p1"><span class="s1">"What we are seeing is strong demand for apartments that are well located and, certainly, the CBD location of Spire - and its high level of connectivity - was a significant factor, as was the high build quality and the exclusive resident amenities."</span></p>
<p class="p1"><span class="s1"><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/2018/3/22/don%20ororke.jpg" alt=""></span></p>
<p class="p1"><span class="s1">O'Rorke said the 'crowning jewel' of the Spire building, designed by award-winning John Wardle Architects, was its rooftop which included Brisbane's highest pool, dining and entertaining zones and a 20-seat cinema.</span></p>
<p class="p1"><span class="s1">"We invested significantly in creating a building that would become a true landmark and place to call home, and the rooftop facilities is an important aspect of that," he said.</span></p>
<p class="p1"><span class="s1">"Here, residents can take in the Story Bridge, Brisbane River and Kangaroo Point Cliffs from the infinity edge pool - there are very few places in Brisbane where you can do that."</span></p>
<p class="p1"><span class="s1">The grand hotel-like lobby will feature restaurant Spice Den - the second to open under restaurateurs Scott Wilson in conjunction with partners, whose first Spice Den at Casuarina in northern New South Wales has become a local institution.</span></p>
<p class="p1"><span class="s1">O'Rorke said Spire had appealed to investors and owner-occupiers, with more than $190 million of sales achieved, making Spire Brisbane's fastest-selling project upon release.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">"Both investors and owner-occupiers have been looking at all the strong fundamentals underpinning the Brisbane market, such as employment growth and high levels of migration," he said.</span></p>
<p class="p1"><span class="s1">"At the same time, the average price of apartments in Brisbane remains significantly more affordable than Sydney and Melbourne, and the yields significantly higher.</span></p>
<p class="p1"><span class="s1">"When you consider a two bedroom apartment in Spire is priced from $630,000 to $750,000 and rents for $780 per week - in comparison to a Barangaroo apartment in Sydney which costs $3 million to $3.5 million and rents for only $1800 per week - it makes a lot of sense."</span></p>
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jrobinson-rf4aSBido9

Brisbane rental yields surge ahead of southern capitals

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<p>The State Infrastructure Plan produced by Infrastructure NSW (INSW) while outlining a forward program of projects has raised concerns about the ageing population in NSW.</p>
<p>The detailed plan by Infrastructure NSW raises concerns about the fact that the NSW population is getting older and this will reduce income from taxation.</p>
<p>The number of people over 70 will increase by 85 percent by 2036 according to INSW. This will increase health services by 50 percent while less people will be contributing taxes.</p>
<p>A fundamental change will occur in how Sydney siders operate over the next 20 years with INSW predicting that train trips will almost double from 1.1 million now to 2.1 million in 2036.</p>
<p>Surprisingly INSW predicts that electricity consumption will only increase by 2 percent by 2036.</p>
<p>INSW calls for the government to make better use of government owned land in terms of development.</p>
<p>They have recommended that the Department of Planning and Environment establish by 2020 a housing and employment supply pipeline to ensure a 5 year supply. This will require action on zoning and on the development pipeline.</p>
<p>One recommendation (No 12) by INSW is that Major Project Planning approvals must be improved as they take too long and this adds to the cost.</p>
<p>The Urban Taskforce agrees totally with INSW that major projects need a much better approval process that the current slow and complex process.</p>
<p>They also call for ways to reduce bid costs for major project procurement.</p>
<p>INSW raise concerns about value capture by saying ‘In most cases it will not have a transformational impact on the funding equation.'</p>
<p>There is some visionary ideas about the use of digital data with suggestions that NSW could learn from Singapore in this regard.</p>
<p>With over 100 recommendations, mainly to other NSW Government agencies, there is a lot of content in the State Infrastructure Plan and its repeated references to the Regional Plan for Sydney and the Transport Plan for Sydney and for NSW.</p>
<p>It is good to see a number of NSW Government agencies working together.</p>
<p>The Urban Taskforce is keen to work with all of the NSW Government agencies to ensure Sydney grows in a sustainable manner.</p>
<p>Chris Johnson is the Urban Taskforce CEO</p>
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Infrastructure plan raises concerns about ageing population: Urban Taskforce

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<p><span>Located 10 minutes south of the township of Broke, a three bedroom house with mountain views has been sold by mortgagees for $425,000.</span></p>
<p><span>It was sold by <span>Michael Cruickshanks and <span>Luke Papworth from LJ Hooker.</span></span></span></p>
<p><span><span><span>The Broke property had last sold for $255,000 in 1997.</span></span></span></p>
<p><span><span>Featuring a three bedroom split level home,<a href="https://www.realestate.com.au/sold/property-house-nsw-broke-127029850" target="_blank"> the 1015 Wollombi Road</a> home comes with large family/dining adjoining the kitchen, separate formal lounge room and huge lounge or games room.</span></span></p>
<p><span><span><span><span>There is also an inground pool, large farm shed and garage with workshop.</span></span></span></span></p>
<p><span><span>The suburb's median house price sits on $550,000 according to CoreLogic. </span></span></p>
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Broke three bedroom house sold by mortgagee

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<p>Port Macquarie in New South Wales was the busiest individual suburb for auctions across the nation last weekend, with 25 residential homes set to go under the hammer.</p>
<p>A Port Macquaire four bedroom house, near Ascot Park, was listed for sale with a price guide of $790,000 - $840,000 (pictured below), but it was passed in price withheld by McGrath Estate Agents.</p>
<p>The block last sold in 2015 at $245,000.</p>
<p>There were approved building plans in 2016 costing $262,000.</p>
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<p><a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-127617098" target="_blank">Situated at 42 Black Caviar Parade</a>, it features multiple living spaces, tiered theatre and swimming pool.</p>
<p>It comes with four double bedrooms, gourmet stone kitchen, and full study or possible fifth bedroom.</p>
<p>It is five minutes from schools and shops, and ten minutes to CBD and beaches.</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/2018/3/16/port%20macquaire.jpg" alt=""></p>
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