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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Regions around Sydney and Melbourne recorded the strongest growth in property values over the last 10 years, while the remaining capitals experienced comparatively moderate value increases, according to CoreLogic’s recent analysis of 10-year suburb data.
In fact, for each state and territory, the top five listed areas shows a significant slant towards capital city regions rather than regional housing markets.
In New South Wales, Pennant Hills – Epping located in the Hills District of Sydney top value growth with an increase of 126.2% over 10 years. The region also has the second highest rate of value growth across the country.
<a href="https://www.propertyobserver.com.au/images/2017/11/30/NSWChart.png" target="_blank">Click to enlarge</a>
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CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport &amp; commercial hub with a population of between 30,000 and 130,000 people).
The median dwelling value in Pennant Hills-Epping region was $1,719,229 as of October, according to CoreLogic.
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-epping-126756418" target="_blank">45 Dunlop Street, Epping</a> (pictured top) sold in November 2017 for $1.75 million. Previously, it transacted in December 2009 for $882,000, according to CoreLogic data.
 <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/2017/11/30/Epping.jpg" alt="">
Another house, a five bedroom property, at <a href="https://www.realestate.com.au/property/108-boundary-rd-pennant-hills-nsw-2120?pid=p4ep-pdp%7Csold-pdp:property-history-cta#history" target="_blank">108 Boundary Road, Pennant Hills</a>, (picture above) sold for $1.45 million in November 2017. It previously sold for $550,000 in 2002, according to CoreLogic data.
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Pennant Hills-Epping region scores highest in home value growth in NSW in 10 years: CoreLogic

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None of the capital cities are at the peak of the housing market cycle, according to property valuation firm Herron Todd White’s December Month in Review.
“2017 was the year some of our hottest markets decided it was time to take a breather,” according to HTW’s report.
Sydney remains at the start of decline on the property clock, like November. Same for Melbourne, which remains at approaching the peak of market position.
Brisbane has risen one notch from start of recovery and joins the other capital cites of Adelaide, Hobart and Canberra at the rising market position.
Meanwhile, Perth has slipped one notch to reach the bottom of market cycle, joining Darwin, which is the only other capital city at the bottom.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/HTWHousesDec.jpg" target="_blank">Click to enlarge</a>
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However, HTW writes that there were "those sectors that continued to lay dormant while a few even outdid expectations”.
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Hot Sydney takes a breather, with house prices in decline: HTW December 2017 property clock

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The new $100 million Glenlea Mount Barker residential development in the Adelaide Hills has launched a new augmented reality app.
The free download app offers homebuyers the chance to view the entire estate in 3D or explore the future of the development in 360-degree mode.
T &amp; J Constructions have recently began constructing the development which includes the creation of more than four hectares of parks and gardens throughout the development, which are on track to be completed by the middle of next year when the first demonstration home will be built.
Axiom Properties general manager Paul Rouvray said the start of construction is a major milestone for the project, while the new app will greatly assist buyers with their purchasing decisions.
“Following extensive planning, it is exciting to get construction works underway and begin our quest to turn the site into one of the premier residential addresses in the Adelaide Hills,” he said.
“The construction of new roads, footpaths, parks and gardens over coming months will really set the scene for the development, which will prioritise modern sustainable living and the natural environment as much as possible.
“The new augmented reality app is also an exciting initiative for the project. We’ve embraced technology and developed the app to give buyers a fantastic insight into what Glenlea will look like in the not-too-distant future, from the high quality homes and streetscapes to the playgrounds, parks and wetlands that will characterise the estate.
“Glenlea is one of the first housing developments in South Australia to use augmented reality technology of this type, which can be used to visualise the completed estate whether you’re physically standing on-site or if you’re using your mobile from interstate or overseas.”
Set on 50ha of rural land bordered by Wellington Road and Bradfield Lane in the Adelaide Hills, Glenlea Mount Barker will comprise of 600 homes nestled among parks, recreation facilities and natural woodlands.
A joint partnership between ASX-listed developer Axiom Properties and the local Gilbert family in Mount Barker – who have owned the land for the past 40 years – the village-style estate is seeking to set new design and sustainability benchmarks, with each new home to be meticulously planned, designed and tested to maximise energy efficiency and future-proof homes against rising electricity costs.
Allotment sizes in the current Stage 1 land release range from 188sqm to 1,283sqm to accommodate a mix of townhouses through to large country homes, with land prices ranging from $109,500 to $222,000. A range of house and land packages will also be available in partnership with selected premium builders.
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For more information <a href="http://www.glenleamtbarker.com.au/" target="_blank">click here.</a> 
  
 
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Gleanlea development in Adelaide Hills with 3D reality app

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ICON Developments’ Cantala project has been named best Medium Density Development at the Victorian Urban Development Institute of Australia (UDIA) Awards for Excellence.
Designed by architects SJB, Cantala is located in Caulfield North and is a development defined by the curvaceous sculptural forms of its architecture, its open walkways and an extremely generous provision of landscaped greenery.
ICON development manager Kyle Reeve says they are very proud of winning the UDIA award for Cantala.
“The award is recognition for the importance we place on creating communities within our developments, which is gratifying,” he says.
“The collaboration with SJB and the greater design team has been imperative to deliver a project that strives to show what is possible with medium density development.”
Taking subtle cues from the art deco buildings found along Dandenong Road and the Caulfield precinct, Cantala comprises 25 multi-storey townhouses, 44 low-rise apartments and a 13,000 plant sanctuary.
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The first visual impression at Cantala is of an angular timber form that forms a prow for the development’s main apartment building, at the entrance to the community. Its angles contrast with the deco-inspired curves that echo across many of the other details of the development.
“We’re really proud of this project,” says the architect, SJB director Tristan Wong.
“It presents new typologies of community living and aims to challenge the notion of public versus private. It also plays with the notion of what an apartment building or townhouse should look like,” Wong says.
“The more we talk about the project, the more proud we feel that we’ve challenged preconceptions about inner-city living and medium density housing typologies,”
“ICON have been highly aspirational in their desired outcome for the site and our design – from both an interior design and architectural perspective they have been prepared to look at things a little bit differently.”
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Cantala’s community amenity wins UDIA award for ICON Developments

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National residential listings rose by 3.2% to 334,594 in November 2017, with stock levels jumping in Sydney, Melbourne, Canberra and Adelaide, as homeowners seek to take profits ahead of the summer break, latest data from SQM Research shows.
Canberra led listings with an 8.5 percent jump, followed by 5.9% in Adelaide, 5.6% in Sydney and  4.9% in Melbourne. 
Compared to a year earlier, listings are up 20.1% in Sydney, reflecting a large increase in properties available for sale, though in Melbourne stock levels are down 10.3% from a year earlier, SQM Research said.
In Brisbane, listings were up by 3.3% and in Perth they rose 3.4%. In Hobart, listings were up by 3.1% over November, but are still down 28% from a year earlier, reflecting a sharp shortage of properties available for sale in that city. 
“November listings usually jump ahead of the market slowing during the Christmas and New Year’s break, so the results are expected. That said, the year-on-year increase in Sydney is significant. Sydney now has the highest level of listings since October 2012,” said Louis Christopher, managing director of SQM Research.
“While there is a slowdown in Sydney, and to a lesser extent in Melbourne, we are still of the belief this is just a temporary stay, with a likely acceleration in market conditions next year based on an expansion in lending once again by the banks and still low levels of interest rates.” 
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQM1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQM1.png" alt="">
Capital city asking prices rose 0.5% for houses and 0.2% for units for the month to December 5. The largest monthly rise came from Canberra, where house asking prices rose 5.9%. 
In Melbourne, asking prices for units rose by 1.4%. Year-on-year asking house price gains were the strongest in Melbourne, with prices rising by 22.2%.   
Hobart had the strongest asking price gains for units, up 19.7% over the year.  
Only Darwin and Perth experienced price falls as the mining downturn continues to impact the property markets there, SQM said.
<a href="https://www.propertyobserver.com.au/images/2017/12/5/SQMIndex.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/5/SQMIndex.png" alt="">
<h3>Key Points </h3>
<ol>
<li>National listings rose 3.2% during the month of November to 334,594 residential properties, but were down 3.7% over the year.</li>
<li>Listings rose the most in Canberra over the month, up by 8.5%, to be up 10.8% over the year.</li>
<li>Listings jumped in Sydney by 5.6% over the month, to be up 20.1% over the year.</li>
<li>Hobart recorded a monthly rise in listings of 3.1%, but they are down 28.0% over the year.</li>
<li>Capital city asking prices rose over the year to December 5 by 10.2% for houses and 6.0% for units.</li>
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Property listings rise in November as owners seek profits before summer break: SQM Research

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Construction has begun of Gallery House One, a $140 million tower in the $5 billion Northshore Hamilton riverfront precinct near Brisbane.
The investment by Brookfield Residential Properties' has tipped over $830 million.
Galley House One sales have reached over $100 million, with 80 percent of the 20 level tower sold. 
The tower comprises one, two, three and four bedroom apartments. Remaining apartments in the building start from $419,000, with two penthouses still available starting from $2,295,000.
A residents-only rooftop crowns Gallery House One and is complete with a 20 metre infinity pool, lounge and barbecue area.
The project's second and final tower, known as Gallery House Two (below), comes to the market with $34 million in sales from registered buyers.
<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/2017/12/6/Gallery%20House%20Two.jpg" alt="">
Brookfield Residential Properties general manager Lee Butterworth said the success of the project proved that quality, riverfront property was in high demand in Brisbane.
"Gallery House has been a stand-out performer in the Brisbane apartment market, quickly gaining a reputation for luxury, riverfront living that offers city conveniences in a tranquil setting," he said.
"Turning the sod on Gallery House One is a major milestone - made all the more significant by the fact we have simultaneously successfully launched the second phase of the project, Gallery House Two.
"We have partnered with Multiplex to build these apartments to the highest standard and are looking forward to delivering our buyers their dream home."
Brookfield Residential Properties is the most active developer in the Northshore Hamilton precinct, having already delivered six apartment buildings as part of its neighbouring Portside Wharf retail and residential community.
Butterworth said the company's footprint in Northshore Hamilton would ultimately total $1.3 billion - making up a fifth of the entire $5 billion urban renewal project - the largest of its kind in Queensland.
"Brookfield recognised the potential of the Hamilton riverfront early and moved to control up to six hectares of unused State land that we have transformed from a disused industrial area into a thriving waterfront community," he said.
"Our Portside Wharf development was the catalyst for the rejuvenation of Northshore Hamilton and a transformative project for the entire suburb.
"Gallery House will continue this legacy, ensuring the Hamilton riverfront builds on its reputation of offering some of the best living opportunities in Queensland."
For more information on Gallery House <a href="http://gallery-house.com.au/" target="_blank">click here. </a>
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Construction commences on Brookfield's Gallery House

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From 1900 to 2010, the amount of materials accumulated in buildings and infrastructure across the world increased <a href="http://www.pnas.org/content/114/8/1880.full" target="_blank">23-fold</a>. We are depleting our resources at <a href="http://uneplive.unep.org/" target="_blank">unprecedented rates</a>. Instead of extracting dwindling raw materials from nature at ever-increasing cost, the time has come to start re-using materials from buildings and infrastructure in our cities.
We have been working on identifying the material resources in cities that could be “mined” for re-use. In a case study, we modelled more than 13,000 buildings in central Melbourne, Australia. We estimated the quantities of construction materials as well as the embodied energy, water and greenhouse gas emissions associated with constructing these buildings (if they were built today). We also modelled the replacement of materials over time and into the future.
The extraction and transformation of resources have broad environmental effects. These include resource depletion, loss of biodiversity, soil and water pollution, and greenhouse gas emissions, which drive climate change.
Adding to these challenges is the amount of waste generated, especially by the <a href="https://theconversation.com/cleaning-up-the-construction-industry-31" target="_blank">construction sector</a> due to construction, renovation and demolition activities. Every time a construction material is discarded, all the embodied energy, water and emissions that went into producing it also go to waste.
In our two <a href="https://doi.org/10.1016/j.buildenv.2016.11.043" target="_blank">recent</a> <a href="https://doi.org/10.1016/j.resconrec.2017.09.022">studies</a>, we propose a model that can help us “mine” our cities and quantify the environmental benefits of this urban mining.
<h2>Modelling all buildings in a city</h2>
We used the City of Melbourne, representing the central business district and immediate surrounds, as a case study. This is because the City of Melbourne offers open-source and high-resolution data that allowed us to model the materials found in individual buildings.
By combining the <a href="http://www.melbourne.vic.gov.au/about-melbourne/research-and-statistics/city-economy/census-land-use-employment/Pages/clue.aspx" target="_blank">Census of Land Use and Employment database</a> with the <a href="https://data.melbourne.vic.gov.au/Property-Planning/Building-Footprints-2015/pv8y-ihee" target="_blank">Building Footprints database</a>, we had access to basic geometric and construction-related data for each of the 14,385 buildings in this area in 2015. Of these, we modelled 13,075, as some very small or unique buildings (stadiums, railway stations, etc.) had to be discarded. We used 48 building archetypes, based on the building type (e.g. office), construction year (e.g. 1987) and height (e.g. 25 metres), to represent the different buildings in the city.
<a href="https://images.theconversation.com/files/196841/original/file-20171129-28866-rzch9i.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/196841/original/file-20171129-28866-rzch9i.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
More than 13,000 buildings were modelled in the City of Melbourne. André Stephan &amp; Aristide Athanassiadis
Results show that the City of Melbourne has a stock of 1.5 million tonnes of materials in every square kilometre. Just replacing worn materials to maintain this built stock is estimated to require 26 thousand tonnes of materials every year.
Rebuilding the City of Melbourne today would use about 10 petajoules of energy and 17.7 million cubic metres of water. The construction would emit 605,000 tonnes of greenhouse gases per square kilometre.
These resource requirements are simply huge. For instance, the energy used for every square kilometre built is enough to drive 700,000 cars from Melbourne to Sydney. Picture all the urban development around the world, then just try to imagine <a href="https://theconversation.com/our-cities-need-to-go-on-a-resource-diet-68984" target="_blank">all the resources required</a>.
Aside from producing these overall estimates, the real value in our model lies in the detail it provides about the use of materials in the city. It can answer questions such as where and when construction materials are needed, and in what quantities. And what are the associated environmental effects?
<h2>Visualising material flows</h2>
For the 13,075 buildings modelled, we ended up with more than 500 million data points. We needed to come up with effective <a href="https://social.shorthand.com/SciDevNet/3geA2Kw4B5c/data-visualisation-contributions-to-evidence-based-decision-making" target="_blank">data visualisation</a> to inform decision-makers about how we can mine cities.
The most important result we found is depicted in a map showing the quantities of each material within each building. We are able to do that for any given year or period. This enables us to track which materials are expected to be replaced in what quantities and in what buildings.
These maps allow us to start thinking of cities as urban mines and places of material production (supply), rather than just consumption (demand).
We can imagine how a new construction project could survey what materials would be available at its start and how it can best re-use these and incorporate them into the design. This would save large amounts of energy and water, while avoiding greenhouse gas emissions and further ecosystem degradation from raw material extraction (usually far from the city).
<a href="https://images.theconversation.com/files/195142/original/file-20171117-29111-aidrim.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/195142/original/file-20171117-29111-aidrim.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Selected material stock (2015) and embodied energy of the City of Melbourne. André Stephan &amp; Aristide Athanassiadis
We borrowed the concept of the age pyramid from population studies to represent the material stock in the city’s buildings. This allows us to understand which materials stay in the stock and for how long.
It also helps us better anticipate when a significant amount of materials is expected to be replaced, resulting in construction waste and a demand for new materials. The maps show where this is going to take place.
<a href="https://images.theconversation.com/files/195143/original/file-20171117-15435-1knnu4b.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/195143/original/file-20171117-15435-1knnu4b.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
An age pyramid represents the age and quantities of construction materials in the building stock, and helps to better appreciate periods of expected replacement. André Stephan &amp; Aristide Athanassiadis
<h2>Long journey to a circular economy</h2>
While we have produced tools that can help with urban mining, we are still far from a truly <a href="https://theconversation.com/explainer-what-is-a-circular-economy-29666" target="_blank">circular economy</a> for the construction sector.
Firstly, our model suffers from a significant amount of uncertainty: it is only as good as the data we feed it. While the City of Melbourne has good-quality data for its buildings, we really struggle to estimate how long materials last, notably at the scale of a building. We need more research and data to better estimate the material composition of buildings, the periods of material replacements or building refurbishments, as well as the materials released and available for re-use.
Secondly, we need to better design our buildings for disassembly. A material that is being replaced is not directly re-usable in most cases due to wear or damage, possibly during demolition.
If we design and prefabricate modular buildings that can easily be disassembled, we can greatly improve the potential for re-use and recycling. This would help us move towards <a href="https://theconversation.com/for-a-truly-sustainable-world-we-need-zero-waste-cities-10552" target="_blank">zero-waste cities</a>.
A third way forward is to rethink how construction materials and systems are designed and for what purpose. Instead of buying carpet for an office, a company could pay for the service “floor area covered by carpet”. This would shift ownership of the carpet to <a href="http://www.desso.fr/globalaccounts/regus/take-back%E2%84%A2-programme/" target="_blank">the supplier</a>.
In turn, that would create an incentive to produce durable, high-quality materials that could be re-used and recycled, instead of programmed obsolescence. Such business models are already starting to emerge.
<img src="https://counter.theconversation.com/content/87672/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">With our growing global population, finite resources and climate change, we need to move fast towards a more circular construction sector to help ease the pressure on the Earth’s resources and ecosystems. Models such as the ones we are developing are a step forward on a long journey.
<a href="https://theconversation.com/profiles/andre-stephan-14991" target="_blank">André Stephan</a>, Lecturer in Architectural Engineering, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a> and <a href="https://theconversation.com/profiles/aristide-athanassiadis-423773" target="_blank">Aristide Athanassiadis</a>, Postdoctoral Researcher, <a href="http://theconversation.com/institutions/universite-libre-de-bruxelles-1220" target="_blank">Université Libre de Bruxelles</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/with-the-right-tools-we-can-mine-cities-87672" target="_blank">original article</a>.
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We can mine cities with the right tools

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Nearly 95,000 first homes were purchased in the year to August 2017, the highest figure since June 2015, says a new report from Bankwest.  
Even though the 94,135 first homes bought till August represent a year-on-year increase of 5.6%, and a slightly cooling property market, the 2017 Bankwest First Time Buyers Report shows the amount of time Australian first time buyers will take to save for a deposit is still on the increase. 
The data also showed that the first home buyer figure accounts for 14.3% of all purchases over the same period. 
The report shows first time home buyer couples (FTB) will have to save for an average of 4.6 years to accumulate the $111,080 needed for a 20 per cent house deposit on a median priced home. This is three months longer than in 2016 (4.4 years) and a $7,173 increase on the $103,907 deposit required last year. 
<a href="https://www.propertyobserver.com.au/images/2017/12/1/FHBAus.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/FHBAus.png" alt="">
FTB couples on average took two months longer to save for a deposit in the major cities except Perth and Darwin, said Bankwest general manager Personal &amp; Small Business Banking, Donna Dalby.
“Perth and Darwin as cities buck the national trend, being the two places where the savings times for first time buyers have dropped year on year. Perth’s house prices have dropped by 4.3% which means the saving time to get the 20 per cent deposit of $103,046 (down $4,627 from 2016) has dropped by three months to 3.9 years,” she said.
“Likewise WA as a whole is the most accessible mainland state for first time buyers. Our report shows in WA it takes 3.6 years to save the necessary $94,651 deposit.” 
“Low interest rates and a 6.9% increase in house prices with sluggish wage growth of only 2% during the same period are making it increasingly difficult for first time buyers to get a foot on the property ladder. 
“While lower interest rates are beneficial for those who already own their homes in the form of lower loan repayments and interest, they can also bring more buyers into the market and this can drive up house prices, making home ownership less affordable for first time buyers.” 
However, Perth’s Peppermint Grove defies the notion of WA’s accessibility and the local government area (LGA) has the longest savings time in all of Australia.
The salubrious suburb takes this unenviable title with a saving time of 21.2 years to save the $672,944 deposit need to put down a deposit (down from 21.7 years a year ago). The suburb of Mosman on Sydney’s north shore is threatening to end Peppermint Grove’s long reign, with the average couple needing 20.4 years to save a deposit – four years longer than in 2016. This is largely due to Mosman house prices appreciating by almost a third (29.8%) in the year to June 2017. 
The report suggests that FTB couples could get on the property ladder quicker if they opted for an apartment instead of a house.
The average savings time for a unit across Australia is 4.2 years, 5 months less than the what’s needed for a house. 
“Everyone dreams of having their own house but medium and high density housing is on the increase across the country and can offer a noticeably quicker route to home ownership than aiming at a house purchase,” said Donna. 
At the other end of the scale the LGA of Dundas in south eastern WA is the area with the shortest saving time – just 0.7 years are needed to save the necessary 20% deposit of $16,346. 
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More first time buyers enter housing market but saving for deposit an uphill task: Bankwest

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First home buyers in Victoria have seen the biggest increase in the time needed to save for a deposit for a median priced house across all of Australia, according to a new report by Bankwest.
Victorian first time buyers (FTBs) are having to save for seven months longer than they did last year, the biggest increase in the country, thanks to a buoyant property market in the state.
FTBs have to save for 5.4 years to save the necessary $126,187 needed for a deposit, up from 4.9 years last year and well above the 4.6 year national average, said the 2017 Bankwest First Time Buyers Report.
Despite this shows, first time buyers are not being put off from trying to get their foot on the housing ladder with 26,369 first time purchases in the year to June 2017 (roughly stable YoY).
Furthermore, ABS data shows the number of FTBs buying in the year to August 2017 rose by 3% to 27,758 (accounting for 15.1% of all homes purchased in the same period).
<a href="https://www.propertyobserver.com.au/images/2017/12/1/VicMostTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/VicMostTime.png" alt="">
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 <img src="https://www.urban.com.au/images/2017/12/1/VicLeastTime.png" alt="">
Victoria’s FTBs have been responding to a number of factors, according to Bankwest general manager Personal &amp; Small Business Banking, Donna Dalby.
“Victorian house prices rose by 14.0% in the 12 months to August 2017 but also in 2017 we saw the introduction of stamp duty discounts for Victorian first time buyers on properties up to $750,000,” she said.
“While Victorian wages only grew by 2% this stamp duty discount will have encouraged first time buyers into the market. There were approximately 3,162 FTBs in Victoria in the month of August 2017 alone, the highest number since December 2009.”
In Melbourne, it takes more than four years for FTBs to save for a deposit in every local government area (LGA) in the city - the first time in the history of the report. Two in three (67.7%) LGAs require FTBs to save for more than six years, up from 54.8% in 2016.
FTB couples in Melbourne will need an average of 6.4 years to save the $153, 008 deposit needed on a median priced house, eight months longer than in 2016 (5.7 years) and 1.5 years above the capital city average of 4.9 years.
Melbourne’s Boroondara area is the least accessible as FTBs there will require an average of 15 years to save a median deposit of $436,738.
The saving time here rose by 1.4 years year onn year, driven by a 12.8%1 increase in Boroondara median house prices.
A four-bedroom house at <a href="https://www.realestate.com.au/property-farmlet-vic-gannawarra-7913094" target="_blank">50 Lake Road, Gannawarra</a> (picture above) is on the market for $350,000. It was previously listed in 2013 for $355,000.
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Victorian FHBs hampered by buoyant housing market 

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The number of first home buyers in Queensland grew in double digits in the year to June 2017, reaching the highest number in seven years, new data from Bankwest reveals. 
The number of first time buyers (FTBs) in the state rose by 11.2% in the year to June 2017 to 22,465, a new report from Bankwest reveals. This was the strongest growth in the nation during the reporting period, it said.
Meanwhile, there was a drop of 1% in second time buyers and investors in the same period.
FTBs account for 17.4% of dwellings purchased in Queensland in the year to June 2017, up 1.6% compared to 2016. 
These findings are part of the 2017 Bankwest First Time Buyers Report.
<a href="https://www.propertyobserver.com.au/images/2017/12/1/QldMostTime.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/12/1/QldMostTime.png" alt="">
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<img src="https://www.urban.com.au/images/2017/12/1/QldLeastTime.png" alt="">
Bankwest general manager personal and small business banking, Donna Dalby said Queensland’s FTBs have been responding to a number of factors. 
“The strong growth in first time buyer numbers is largely a result of relatively affordable housing in the sunshine state, as well as the extension of the $20,000 home owners grant for new homes until December 31, 2017,” said Dalby. 
“Whats more, with the benefit of being able to see the latest ABS data, we know this growth has continued, with the number of Queensland first time buyers increasing by 15.0% in the year to August 2017 to a total of 23,315,” she said. 
The time need to save for a deposit is also less compared to the other East Coast states.
FTB couples will need to save for an average of just 4 years for a $92,240 deposit on a median priced house, on par with 2016 (3.9 years) and below the national average of 4.6 years. 
This saving time is also well below New South Wales (6.0 years) and Victoria (5.4 years). 
At a city level, Brisbane FTBs will need to save for an average of 4.5 years for a deposit on a median priced house, in line with 2016 (4.4 years) and below the capital city average of 4.9 years. 
While most FTB couples will be looking to get a house as quickly as possible, those in no hurry could look to try to buy in Queensland’s Noosa area. 
FTBs there will require an average of 6.3 years - the only area in Queensland to need more than six years - to save a median deposit of $127,895, making the area the least accessible in the state. The saving time here rose by seven months YoY, driven by a 13.6% increase in house prices. 
A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-blackall-124098898" target="_blank">9 Gidyea Street</a> (picture above) in Blackall sold for $190,000 in October 2017.
A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-blackall-123984470" target="_blank">63 Garden Street, Blackall</a> sold for $185,000 in August 2017. It previously sold for $160,000 in 2011, according to CoreLogic data.
<img src="https://www.urban.com.au/images/2017/12/1/Blackall2.png" alt="">
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