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.

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.

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.

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.

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.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"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.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"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.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

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.

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.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

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.

The city's entrepreneurial culture is also translating into business growth.

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.

Development activity remains another key indicator of confidence.

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.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

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.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"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.

"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."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

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.

Joel Robinson

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

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.

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.

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.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"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.

"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."

[smartcode_project:default project_id=150414 project_image_fid=372744]

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.

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.

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.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

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.

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.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

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

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.

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.

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.

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.

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.

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.

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.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

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.

"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.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"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.

"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."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

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.

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.

"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.

"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."

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.

"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.

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.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"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."

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.

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

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.

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.

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.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

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.

"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.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

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.

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.

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.

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.

[smartcode_project:default project_id=146717 project_image_fid=372225]

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.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

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.

[smartcode_project:default project_id=146717 project_image_fid=372222]

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.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"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.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

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.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"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."

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.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

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.

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.

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.

[smartcode_project:default project_id=134323 project_image_fid=6395]

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.

Rothelowman says the site itself shaped much of the architectural response.

“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.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

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.

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.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“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.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

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.

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.

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.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“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.”

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.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

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;

<h2>What is the Help to Buy Scheme?</h2>

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.

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).

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.

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.

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.

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.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<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>

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.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

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

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.

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.

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.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: 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.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: 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.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: 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.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: 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.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: 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.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

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.

Every First Home Owner Grant for new property by state

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.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

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.

<h2>What is NatHERS?</h2>

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;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

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.

<h2>How NatHERS Ratings Work</h2>

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.

The tools can model complex effects of building mass, insulation, window size, and other elements.

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.

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;

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.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: 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.

Cost Savings: 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.

Environmental Impact: 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.

Improved Comfort: 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.

Market Value and Desirability: 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.

Compliance with Building Codes: 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.

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?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

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.

<h3>Convenience and accessibility</h3>

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.

[smartcode_project:default project_id=114215 project_image_fid=204874]

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.

<h3>Vibrant lifestyle and community</h3>

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.

[smartcode_project:default project_id=107714 project_image_fid=214122]

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.

<h3>Potential for higher rental yields and property value appreciation</h3>

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.

[smartcode_project:default project_id=139989 project_image_fid=212887]

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.

<h3>Enhanced security and maintenance</h3>

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.

[smartcode_project:default project_id=108019 project_image_fid=212658]

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.

<h3>Live-work-play balance</h3>

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.

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.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<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>

<h2>Who pays Stamp Duty?</h2>

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.

<h2>How much does Stamp Duty cost?</h2>

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.

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!

Overall, the stamp duty you need to pay will depend on:

<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>

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.

Ellen Walker

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

Are mortgage holders set to get a reprieve from the RBA in 2026?

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.

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.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"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.

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.

“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.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“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.”

She said tighter financial conditions are expected to weigh on housing and activity.

“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.”

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

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Over the 12 months to June 2017, 3,861 dwellings were sold after having been held for less than a year nationally with a further 16,749 resold after being owned for between one and two years, according to CoreLogic.
These figures represented 1.3% and 5.7% of all resold property sales over the year. 
Flipping remains a small proportion of the overall housing market however, flips between one and two years have been trending higher over recent times. 
In its heyday in the early 2000s, 4.4% of all properties were flipped in less than 12 months and 16% were flipped between 12 and 24 months from previous purchase. 
What is surprising is that the introduction of the capital gains tax discount for investors that held properties for more than 12 months in 1999, made little difference to flipping behaviour.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/19/flipping-by-state.jpg" target="_blank">to enlarge.</a>
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In fact, the incidence of flipping didn’t rise substantially until the national housing market boomed between 2001 and 2004. 
Focusing solely on those properties which are ipped, the data shows that most of these properties are selling for a gross profit. 
Over the 12 months to June 2017, 10.9% of flips held for less than 12 months were at a loss and 10.1% of flips held for between 12 and 24 months resold for a loss. 
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Although the proportion of flips at a loss has declined from recent highs in 2009 and again in 2012, there has been a clear increase in loss-making flips recently. 
The rising number of loss making flips highlights there is some financial risk in flipping, keeping in mind that the proportion of loss making flips on a net basis is likely to be substantially higher once expenses are taken into account.
Across the major regions of the country, flipping was more prevalent in Sydney, Melbourne and Regional QLD.
Darwin was the weakest capital city for prices in 2017.
Its resale losses have also been a problem in recent years.
The propensity to flip in Sydney and Melbourne is likely due to the strong run-up in values over recent years whereas regional QLD is probably seeing greater propensity to flip as people struggle to meet mortgage repayments as unemployment has risen and dwelling values have fallen.
Vendors in Perth, Hobart, Darwin, regional QLD, regional SA, regional WA, regional TAS and regional NT were the most likely to ip their properties for a loss. 
In most of these regions value growth has been sluggish for a number of years which makes flipping for a profit much more difficult. 
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j.ballantyne1990-6AQqhLzZaK

Loss-making property flips on the rise, especially in Darwin: CoreLogic

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Melbourne has been the busiest capital with early 2018 house and unit sales.
There has been a $700,000 median house price, according to CoreLogic from more than 2000 sales across Melbourne.
<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/2018/1/15/MEDIAN.jpg" alt="">
Recent private treaty sales at around the median include a nearly built <a href="https://www.realestate.com.au/sold/property-townhouse-vic-brunswick-125566678" target="_blank">townhouse in Brunswick</a> (above) which fetched $700,000.
The home north of the Melbourne CBD has two bedrooms and two bathrooms.
One of the earliest sales of the year was a <a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-126511154" target="_blank">Queens Park Road</a> apartment in Melbourne which fetched $700,000.
The two bed, two bath unit with study sits in the Grosvenor development.
 
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jonathanchancellor-7SQnKwU6yx

Melbourne gets busy with early 2018 house sales

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Fresh summer stock is down in Sydney, but late 2017 left overs remain at an elevated level.
There are 17,000 plus houses and units for sale across Sydney, up 31 percent one the same time last January.
There is a 40 percent drop in the number of Hobart listings, in the nation's hottest property market.
The Sydney housing market deterioration now also shows up in the median number of days on market for houses and apartments.
It has risen to between 45 to 47 days, albeit at the slowest time of year.
At the same time last year, houses were taking 35 days to sell, while units sold in 41 days.
<div class="related-quotes section">At the peak of the market in the recent five year boom, median days on market for houses was as low as 25 days in 2015 and 23 days for units in 2014.</div>
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jrobinson-rf4aSBido9

Sydney fresh stock down, but up on this time last year: CoreLogic

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Hobart continues to take the baton from Sydney and also Melbourne as the nation's hottest housing market. 
The Sydney median unit rental price has dropped back from its peak, falling back below median house rental prices for the first time in six months.
House rental prices in Melbourne were up 1.2 per cent over the quarter, hitting a new high.
But Hobart has had the  strongest annual growth in house rental prices on record, surging 12.9 per cent.
Both unit and house rental prices rise in Canberra and Hobart. House rental prices remain steady over the quarter in Sydney, Brisbane and Perth.
Canberra, Darwin, and Hobart deliver strongest unit yields for investors.
Brisbane, Darwin, Hobart deliver strongest house yields for investors.
Domain December Rental Report <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/c061336a-9e53-4b7b-92b0-d1702698537a.png" width="600" height="597">  
Rental prices for the December quarter demonstrated that Australia’s capital city markets are operating on different property cycles, as Sydney unit rental prices ease slightly, while Canberra and Hobart markets continue to grow, according to Domain’s quarterly Rental Report.
"Prices in Australia's rental market are mixed, with varying levels of population growth, residential construction and investor activity producing different market conditions across the nation's capital cities.
“There were diverse changes in median rental prices across the capital cities over the quarter. While many markets held steady, there were also capitals with a growth in median asking rental prices. Canberra and Hobart, two cities at opposite ends of the affordability spectrum, saw the greatest price growth. Even though there’s a distinct gap in their median rental prices, it’s clear that tenants in both cities are facing a competitive rental market,” said Domain Data Scientist, Dr Nicola Powell. 
Rental yields
For investors, Hobart continues to provide the best gross rental yields for houses with 5.34 per cent recorded over the December quarter. Sydney and Melbourne continue to record the lowest gross rental yields for houses of all capital cities, sitting at 3.08 per cent and 3.20 per cent respectively.
Canberra is the top performer for gross unit rental yields, recording a result of 5.80 per cent over the quarter, closely followed by Darwin at 5.67 per cent and Hobart at 5.52 per cent.  
Capital city markets  
Sydney
Median weekly rental prices for units in Sydney’s competitive rental market decreased over the quarter, with median rental prices falling 0.9 per cent to $545 per week. The $5 drop makes unit rental prices lower than house rental prices for the first time in two quarters. Despite the quarterly decline, median unit rental prices are 4.8 per cent higher than the same time last year.
Median house rental prices remained steady over the quarter at $550 per week. House rental prices have seen no price movement for three quarters and have grown only 1.9 per cent year-on-year.
“If investor activity continues to decline in Sydney it could tighten the rental market in 2018. However, the value of building completions is reaching a high, providing a boost to unit rental stock.
“The trend is likely to continue over the coming months, as stock from off-the-plan sales comes onto the market. This could provide tenants with a greater choice in certain pockets of Sydney,” said Domain Data Scientist, Dr Nicola Powell.  
Melbourne
Median weekly house rental prices gained 1.2 per cent over the December quarter and 3.7 per cent year on year, to a new record high of $425 per week.
Median unit rental prices in Melbourne have increased 5.3 per cent annually to $400 per week, and remained steady over the quarter. A difference of $25 now exists between house and unit rental prices, with price gains growing more rapidly for unit rental prices than house rental prices. If this rate continues, prices may eventually be on par, mirroring the trend previously seen in Sydney.
“As the impact of tighter investor lending continues to unfold it is likely to drive competition for available rental stock. The capital’s soaring population, spiked by all three population drivers (natural increase, overseas and interstate migration) and less available rental stock will put additional pressure on rental prices,” said Domain Data Scientist, Dr Nicola Powell.  
Brisbane
Brisbane house rental prices remained stable at $400 per week over the December quarter. It was the only capital city market with no change to house rental prices both over the quarter and over the last 12 months.
Median unit rental prices decreased 1.3 per cent over the year, however prices held steady over the quarter at $370 per week.
“It has been roughly half a decade since investors in Brisbane saw a significant growth in rental prices. Prices in the capital have continued to be impacted by high levels of unit development giving landlords little ground to raise rental prices,” said Domain Data Scientist, Dr Nicola Powell.  
Adelaide
Adelaide’s median house rental prices grew 2.8 per cent over the December quarter and the year, reaching $370 per week. The quarterly growth was the first gain for Adelaide house rental prices following three quarters of prices holding steady.
Median unit rental prices in Adelaide remained flat over the December quarter, at $295 per week. Adelaide is the most affordable rental market of all the capital cities, despite a 1.7 per cent gain year-on-year.
“Adelaide continues as a relatively steady market, with units delivering stable returns for investors in the market. Available house stock has now tightened for three consecutive quarters providing a short term pressure and growth in median rental prices,” said Domain Data Scientist, Dr Nicola Powell.
 
Perth
Median house rental prices in Perth held steady this quarter at $350 per week. The median rental price fell 5.4 per cent over the year, but the rate of decline is now easing.
Median unit rental prices were also stable over the December quarter, at $300 per week. The median has now held flat for four consecutive quarters, which is the longest period of quarterly stability in Perth’s rental price history (recorded since 2004).
“Perth continues to be one of the nation’s most affordable rental markets and was the only capital city with an annual decline in house rental prices.
“While falling rental prices have become the norm over recent years, the rental market has begun to show signs of transitioning conditions, with hefty declines in rental prices no longer being recorded in Perth’s unit market. Investors in the capital have also seen an annual growth in rental yields for houses,” said Domain Data Scientist, Dr Nicola Powell.  
Canberra
House rental prices in Canberra increased 5.9 per cent over the quarter to reach a new record of $540 per week. Prices are 8.0 per cent higher than this time last year, making the nation’s capital the second strongest market for house rental prices growth.
Canberra was one of the two capital cities with growth in median unit rental prices over both the quarter and year, up 2.4 per cent to $430.
“The healthy quarterly gain in Canberra has helped to push up gross rental yields for units to 5.80 per cent, the highest yielding output of all the capital cities.
“Affordability remains a key issue for Canberra tenants. It is the third most expensive capital city for house rental prices and second for units. If stricter investor lending hits rental stock in the year ahead, it could lead to a further growth of rental prices in an already expensive market,” said Domain Data Scientist, Dr Nicola Powell.  
Hobart
Over the December quarter, Hobart median house rental prices had the highest rate of growth on record for the city. House rental prices increased 6.8 per cent over the quarter and 12.9 per cent year-on-year to $395 per week. This is an astounding $45 increase compared to the same time last year.
Hobart was the only capital city to reach double-digit annual growth in house and unit rental prices. Median unit rental prices grew 6.3 per cent over the quarter and a whopping 13.3 per cent annually, to $340 per week.
“Hobart currently has strong levels of migration and not enough rental supply to keep pace. Investors are reaping the highest gross rental yields for houses out of all the capital cities at 5.34 per cent and the third best for units at 5.52 per cent, falling just behind Canberra and Darwin,” said Domain Data Scientist, Dr Nicola Powell.  
Darwin
Darwin’s rental market had a strong quarter of growth in house rental prices, with an increase of 5.8 per cent, setting median weekly rental prices at $550. This growth makes Darwin, alongside Sydney, the most expensive city in which to rent a house in Australia.
Median unit rental prices grew 3.8 per cent over the quarter to $415, with units in Darwin producing the second highest rental yields of all the capital cities at 5.67 per cent.  Overall, unit rental prices for the capital city have fallen, decreasing 5.7 per cent over the year.
“Economic health, investment and population fluctuations have a large impact on the Darwin rental market. This quarter, house rental prices had the strongest growth rate in five years. Units continue to provide high yielding outputs for investors and in the year ahead, it’s likely we will see unit supply levels continue to affect unit values and gross yields,“ said Domain Data Scientist, Dr Nicola Powell.
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Sydney median unit rental prices drop below median for houses: Domain rental report

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Australian housing finance approvals beat expectations again in November, the number of approvals for owner occupiers up 2.1% vs expectations of a flat result. Approvals ex refi rose 2.4%mth to be up 9.2%yr.
The value of housing finance approvals to investors also posted a rise, up 1.5% but is down –8.3%yr.
The Nov detail showed continued strength in first home buyer loans (+4.5%mth, 36%yr) concentrated in NSW and Vic where state government stamp duty concessions are giving a big boost and activity is coming from a very low starting point.
Construction-related approvals were up 2%mth, 7.6%yr.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/18/FINANCE.jpg" target="_blank">to enlarge.</a>
<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/2018/1/18/FINANCE.jpg" alt="">
By state, gains in NSW (+1.9%mth), Qld (+4.3%mth) and SA (+2.1%mth) offset falls in Vic (–0.3%mth) and WA (–2.7%mth). Annual growth remains strongest in Vic (+16.8%) and NSW (+10.9%) bearing in mind that this is owner occupier approvals only (ex refi) and that the slowdown in investor activity has had a more material impact in these two states, NSW in particular.
Overall, the total value of finance approvals ex owner occupier refi was up 2.1%mth, and 1.7%yr. That compares to turnover, down around 16%yr, auction clearance rates, down over 13ppts, and an abrupt slowdown in price growth, down from a double digit pace mid-year to a sub-5% annual pace currently.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/18/SEGMENT.jpg" target="_blank">to enlarge.</a>
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While the pull back in investor finance approvals is broadly consistent with macro-prudential tightening measures impacting this segment, the continued strength in owner-occupier activity has been surprising, particularly given material slowdown in wider housing market activity evident in other measures. Overall, the total value of loan approvals including investor loans and ex refi has firmed over the last year, up 1.7%yr.
The comparison with the previous macro-prudential tightening episode in 2015 is also intriguing. This resulted in a similar slowdown in wider market measures and a sizeable 10%+ decline in the total value of finance approvals.
The differences are puzzling but may be an indication that weaker foreign buyer demand – evident in the wider housing market performance but not captured by finance approvals – may have had a greater hand in the 2017 slowdown.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Housing's puzzling strength: Matthew Hassan

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Darwin property owners seeking a sale in the first quarter of 2018 should recognise the city’s housing values have bottomed, according to leading real estate group, Raine &amp; Horne. 
“Investment firm AMP Capital l<a name="x__ednref1" href="x-webdoc://DC3B27C2-F28F-4666-9E47-11992185BC89#x__edn1" title=""></a>ast week indicated that the Darwin real estate market has bottomed, which means that local owners should feel less pressure to take the first offer from a buyer,” said Glenn Grantham, general manager at Raine &amp; Horne Darwin.
“The Darwin property market in fact reached the bottom of the price cycle a few months ago, yet there still seems to be many owners believing they must take the first offer that comes their way.”
The failure by owners to recognise that prices have bottomed can be as costly as paying too much at the top of the market cycle, advised Grantham.
“We have heard of instances where some owners at the end of 2017 were accepting auction bids that were considerably lower than the going market rate.
“With the Darwin property market now at the bottom of the cycle, it’s critical that owners work with real estate agents, such as Raine &amp; Horne, who will put their interests first, and secure them the best price possible.”
Markets such as apartments in central Darwin and houses in Palmerston are set to be major buying hotspots in 2018.
“If you recognise that Darwin has reached the bottom of the price cycle, then you need to look at the sub-markets where prices have been most affected,” said Mr Grantham.
“In this regard, it’s hard to go past apartments in the centre of Darwin and houses in Palmerston.”
<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/2018/1/17/darwin3.jpg" alt="">
The median 3-bedroom house price in Palmerston is $300,000 and mid-$400,00s for a four-bedroom house, according to Raine &amp; Horne Darwin.
“Inner city, two-bedroom apartments start from around $300,000, and this is the market where we’re seeing more investor activity,” said Mr Grantham.
The wet season which extends to April coincides with an influx of interstate workers moving to Darwin for government and defence work.
“Many of the transient workers buy a Darwin property to live in, before transitioning it to the rental market when they leave,” noted Mr Grantham
“Almost 90% of investors are from interstate who move to Darwin for short to medium periods and recognise its property market offers the prospect of immediate price affordability and long-term growth. 
“Workers from interstate often purchase Darwin properties with an understanding that when they leave, they’ll keep it as an investment asset that can produce growth and income yields significantly higher than the southern capitals.”
Raine &amp; Horne Darwin has 66 properties on their books.
Their priciest is an apartment in the <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-119146115" target="_blank">Evolution on Gardiner</a> building in the city which has views of the water (top and above).
Agents Glen Grantham and Dan Campbell are asking for $985,000 for the three bedroom, two bathroom apartment.
<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/2018/1/17/darwin2.jpg" alt="">
Grantham and Campbell are also marketing an off the plan townhouse in the <a href="https://www.realestate.com.au/property-townhouse-nt-the+gardens-123840718" target="_blank">Terrace Gardens project</a> (above).
The three bedroom, two bathroom townhouse is priced at $825,000.
There has only been one Darwin sale by the Raine &amp; Horne Darwin team this year. That was an <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-120654785" target="_blank">apartment in the Marrakai complex</a> (below) which sold for $350,000.
<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/2018/1/17/marrakai.jpg" alt="">
The ninth level apartment with two bedrooms and two bathrooms last traded for $245,000 in 2000 and had been on the market for over two years.
It initially sought a price between $520,000 and $550,000.
A unit Raine &amp; Horne sold in Cullen Bay went back in price late last year when it sold for $485,000.
The two bedroom apartment overlooking Cullen Bay Marina last sold for $620,000 in 2008, and even $500,000 in 2007, still above its price today 10 years later.
 
 
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Darwin housing values have bottomed

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Adelaide has overtaken Sydney as the mainland capital with the second strongest growth in property values.
Sydney house values are down 0.2 percent in the quiet first two weeks of the new year, Corelogic data shows.
There was no movement for the other major markets, Melbourne, Brisbane and Adelaide in the year to date.<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/2018/1/15/VALUE%20CHANGES.jpg" alt="">
Perth was also down 0.2 percent.
Sydney's annualised growth sits at 2.5 percent.
 The last time Sydney posted such a low level of growth was at the start of the boom in mid-2012.
There was a 70.8 per cent rise since 2012, Corelogic says.
Adelaide's annualised growth sits at 2.7 percent.
Melbourne is still the market leader.
In December Sydney house prices fell 0.5 percent.
The start of the year is always quiet, but last January (below) saw Sydney prices sitting at an annualised 15.6 percent growth, with 0.7 percent growth just in January, according to CoreLogic.
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Sydney's price decline continues into 2018

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Dwelling approvals continued to surprise to the upside in November, increasing by 11.7% compared to market expectations for a 1.0% decline. 
November’s uplift was driven by a jump in Victorian approvals, up 38% on the back of a 21% rise in October. 
The rest of Australia was relatively flat, down 2.0% in the month following October’s 8.3% drop. 
On an annual basis, dwelling approvals are tracking at a 17.1% pace.
<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/2018/1/10/dwelling%20approvals.jpg" alt="">
 
However, given the series is typically volatile, we prefer to assess the data on a rolling 3 month basis. Under that smoothed measure, approvals were up 3.8% in the month and 11.0% over the year but this is still partly inflated by base effects due to a dip in October 2016. 
Looking at the dwelling type detail, the increase in Victoria was concentrated in private apartment approvals, in particular the high rise component (four or more storey blocks). 
We caution that the high rise series is very volatile, and November’s surge likely reflects a lumpy project pipeline. This raises the risk of a sharp correction lower in apartment approvals in coming months even though Victoria continues to see strong population growth.
Nationwide, private apartment approvals rose 30.6%, mainly due to the aforementioned jump in Victoria but also because of gains in Queensland and WA on a much lower scale. On a rolling 3 month basis, Australian apartment approvals rose 8.8% in November and 21.3% over the year.
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In regards to houses, detached dwellings were down 2% in November and relatively flat in yearly terms, +2.2%. By state, Queensland retraced past gains (-6.7%) but the trend is up over 2017, consistent with a resurgence in population growth. 
Victoria too was down 1.1% though approvals have moved higher through the year. NSW detached dwelling approvals rose 2.6% in the month but are broadly flat over the year. WA continued to trend down, falling 8.7%. 
The value of renovation approvals fell back 3.5% in November after increasing by 24.4% in October to be 17.8% higher in yearly terms. Mining states lifted through the second part of 2017 while Victoria held a high level. 
The value of non-residential building approvals were broadly flat in November and up 35.5% over the year. However, after a choppy previous three months, total monthly approvals are relatively unchanged from April's level. State detail shows that much of the increase from last year is concentrated in Victoria and to a lesser extent NSW. By type, offices have been the main driver but warehouses and 'other' segments have also risen from last year. 
Overall, the jump higher in Victorian high rise approvals raises the risk of a sharp fall in coming months. Yet, the firming trend in Victorian detached dwelling approvals is in line with stronger population growth. Momentum elsewhere in Australia looks to be limited. 
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Australian dwelling approvals surprise higher in November: Westpac

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Former Davis Cup player Mark Kratzmann and business partner Don Moffat have teamed up to create a riverfront property developer on Queensland's Sunshine Coast.
Unique in its direction, the residential development called The Ivy Picnic Point will also aid in the development of houses in India.
For every apartment sold in the 37 apartment building, a house will be built in India. There are also two penthouses. Kratzman says he and his family are set to move in to one of the apartments.
“This really has been a dream 40 years in the making, and I have so much faith in the end result that my family and I are counting down the days until we can move in with another 36 residents."
The Kratzmann Group has partnered with not-for-profit organisations Habitat for Humanity and B1G1 to build the houses.
More than 40 percent of The Ivy Picnic has sold, with 15 of the 37 two and three bedroom apartments recently snapped up.
Kratzman said a number of the buyers hail from Melbourne and Sydney, who have been drawn to the Sunshine Coast because of the warm climate and the developments waterfront location and lifestyle.
The project, The Ivy Picnic Point, is located on the Picnic Point Esplanade, looking out to Channel and Goat Island.
Speaking on the development in India, Kratzman noted that more than 73 million families in India do not have access to proper shelter.
“Habitat for Humanity supports people who have lost their homes in natural disasters or cannot afford to build their own houses,” he said. 
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“Having recently travelled to India, I visited the Bawana slum in Delhi and was confronted with images of open sewers, children playing in widespread rubbish, and families with no access to clean drinking water.”
“It’s heartbreaking to see people – children included – living in such extreme poverty and poor sanitation and I’m determined to play a role in transforming the lives of those in need.” 
“It’s hard to fathom the troubling conditions these communities face on a daily basis and I certainly don’t take for granted how incredibly lucky we are to have such a high standard of living in Australia.”
“We’re excited to be helping transform many of the slum’s shanty homes into real houses with safe sanitation, and have received an overwhelmingly positive response from The Ivy Picnic Point buyers, who have embraced the initiative with open arms.”
The Ivy Picnic Point features a communal barbeque area, lap pool, steam room and gym, with all apartments incorporating Smeg and Miele appliances.
To find out more about the development, <a href="http://www.theivypicnicpoint.com.au." target="_blank">click here.</a>
Prices start from $499,000.
 
 
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Ivy Picnic Point development by Mark Kratzmann and Don Moffat to help develop homes in India

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Mozo property expert Steve Jovcevski expects prices to further cool in the major housing market of Sydney, while Melbourne will enjoy a spike in property values.
 Brisbane houses should slowly increase while Hobart will continue to be the star performer.
 
Sydney – property market decrease of -5%
The Sydney housing market plateaued in 2017 and will drop slightly over 2018, but we’re unlikely to see a dramatic bubble burst. Signs pointing to a slower market include lower clearance rates and higher than average housing supply. Clearance rates could continue to be low in Sydney due to rampant under-reporting of sale prices by agents. It is possible that actual clearance rates are even lower than reported. The market is expected to pick up in Autumn but the Spring season, typically a boom period for the Sydney property market, will be tough in 2018. First home buyer demand will be stronger, due to lower competition and ongoing low rates.
 
Melbourne – property market increase of 5-7%
Melbourne will continue to be a first home buyer’s market with more affordable housing in comparison to Sydney. Melbourne is experiencing strong population growth and while the market will continue to grow, it will slow compared to the 10% growth experienced in 2017. It is anticipated that Melbourne clearance rates will also drop from 70% to 60% due to the slowing of first home buyer activity and a drop in pent-up demand. Apartment markets may struggle due to oversupply issues in some inner-city locations.
 
Perth – property market increase of 2-4%
The Perth housing market has stabilised in the last quarter although the market experienced a slight housing price drop over the last year. The Perth housing market has struggled over the past few years and is now set to enjoy a small amount of growth which will continue to climb. The city boasts an affordable first home price point compared to other major metropolitan areas in Australia and is experiencing steady population growth. The local economy is slowly strengthening after overcoming the mining collapse and now enjoys a more secure local economy.
 
Canberra – property market increase of 7%
Low vacancy rates continue to support the Canberra property market with an adequate supply of interstate investors seeking good yield. Demand in the first buyer space continues and the local economy remains consistently strong. Migration to Canberra also continues as Australians seek out the capitals excellent job market, lifestyle opportunities and housing affordability.
 
Brisbane – property market increase of 5%
Brisbane has experienced steady population grown due to the affordable lifestyle it offers. Many Australians are migrating to Brisbane from more expensive city centres due to housing affordability and a stable local market. 2017 saw a steady increase of 4-5% and it is predicted this slow and steady rise will continue for years to come. Apartment markets may struggle compared to houses due to an oversupply in some areas.
 
Hobart – property market increase of 10%
Hobart posted a whopping 12% growth in the past year, and is expected to experience similar growth in 2018. Compared to other Australian metropolitan centres, Tasmania boasts some of the country’s most affordable housing. With close proximity to Melbourne, low vacancy rates and consistently high rental demand it is an excellent investment prospect. The local economy continues to improve and lifestyle migration is expected to be a major factor in driving up house prices. 
 
Adelaide – property market increase of 3-4%
Slow is steady is the track record for Adelaide's housing market and this continues in 2018. The ideal market for investors, housing prices are not prone to sharp price rises and dips. In the last year, Adelaide enjoyed a 3-4% price increase and this is expected for 2018. An increase in new apartments may increase house prices slightly, but generally, Adelaide will enjoy slow and consistent property growth.
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