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


Joel Robinson

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

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


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

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


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

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


Lowe Living launches Jardin House in Camberwell

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


The Walden pairs house-scale living with North Sydney connectivity

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


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

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

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


Every First Home Owner Grant for new property by state

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


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

Staff Writer

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

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


alisonwarters@gmail.com

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

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


Ellen Walker

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

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


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

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<p>Developer Deicorp’s Western Sydney residential project has received development approval for stage two.</p>
<p>Deicorp’s Highline Westmead is inspired by the New York urban masterpiece of the same name.</p>
<p> The $700 million residential project will be located at the corner of Hawkesbury Road and Darcy Road in Westmead and will comprise 900 apartments over 10 buildings, with a mix of seven to 23 storeys. </p>
<p>Turner Architects have designed the mix of studios, one, two and three-bedroom apartments and lofts featuring private residents’ gardens, a lap pool and connected lounging pool section. </p>
<p>There will also be communal kitchen, residents gym, dining and BBQ areas plus a level nine rooftop gardens with BBQs and views over Parramatta Park, Parramatta CBD and Sydney CBD. </p>
<p>Stage one is expected to be completed at the end of 2019.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/17/Highline_2.jpg" alt=""></p>
<p>With successive governments investing billions in Westmead over four decades to prioritise it as a place for public health, research and the new knowledge economy, the suburb now provides over 18,000 specialised jobs and is expected to experience further growth as its population grows in proportion. </p>
<p>“Westmead already represents Australia’s largest concentration of health services co-located with world-leading education and medical research,” said David Borger, director of the Sydney Business Chamber, Western Sydney, on behalf of Westmead Alliance. </p>
<p>“There is an opportunity for Westmead to play a larger role in transforming Australia’s economy.” </p>
<p>In 2013, the Westmead Alliance identified more than $68 million worth of public transport, access, parking and urban amenity improvements were needed to unlock the investment and jobs potential of the precinct. </p>
<p>Deicorp says its project aims to fill the gap in demand for residential infrastructure.</p>
<p>“You attract talent by having a very exciting eco system, by having a great place to live and work,” says Lucy Turnbull AO, chief commissioner, Greater Sydney Commission said in a Deloitte report commissioned by Westmead Alliance," Borger says.</p>
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jonathanchancellor-7SQnKwU6yx

Deicorp's $700 million Highline Westmead residential project approved for next stage

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<p>Purchases by foreign buyers do not, on the whole, reduce the supply of dwellings available to local residents, according to the RBA.</p>
<p>"In fact they may actually contribute to expansion of the housing stock," according to Jonathan Kearns the bank's head of Financial Stability.</p>
<p>He said foreign buyers in Australia for work or study would have been renting if they did not purchase.</p>
<p>"Other foreign buyers rent the property as an investment and so contribute to the rental stock.</p>
<p>"Also, there are some new developments that only proceed because they get high pre-sales from foreign buyers," he said in a speech to the Aus-China Property Developers, Investors &amp; Financiers.</p>
<p><a href="https://www.rba.gov.au/speeches/2017/sp-so-2017-11-20" target="_blank">The speech</a> noted purchases by foreign buyers have received considerable focus in recent years.</p>
<p>However he did acknowledge <span>foreign buyers of residential property could amplify cycles or transmit foreign shocks. </span></p>
<p><span>"Non-residents purchasing Australian real estate as an investment may choose between different countries based on expected returns, which can increase the correlation of the Australian market with other countries. <br></span></p>
<p><span>"Changes in economic and regulatory conditions in foreign buyers' home countries can also be transmitted to their demand for Australian property. </span></p>
<p><span>"But if purchases of residential property by foreign buyers mainly depend on conditions in their home country, their participation could actually have a moderating impact on the Australian housing cycle."</span></p>
<p>Kearns noted non-residents are able to purchase newly constructed dwellings in Australia, while temporary residents, such as those in Australia for work or study, are able to purchase an existing dwelling for their primary residence.</p>
<p>"It has been hard to get a firm estimate of how large these purchases are, but drawing on a range of sources, it seems that, nationally, purchases by foreign buyers are equivalent to around 10-15 per cent of new construction, or about 5 per cent of total housing sales," he noted.</p>
<p>"The share of new construction purchases is highest in Melbourne and Sydney.</p>
<p>"It is also higher for apartments, but it is still only perhaps around one-quarter of newly built apartments.</p>
<p>"Many foreign buyers come from China, seemingly around three-quarters."</p>
<p>He noted purchases of new properties by foreign buyers have eased over the past year, reportedly because of stricter enforcement of Chinese capital controls and tighter access to finance for foreign buyers.</p>
<p>Kearns concluded the strength of the Australian property market, and the participation by foreign buyers, had enticed some foreign developers to Australia for specific projects, "but overall they remain a small part of the market."</p>
<p>Foreign banks also have a very small role in residential property lending in Australia, he added.</p>
<p> </p>
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j.ballantyne1990-6AQqhLzZaK

Foreign buyers do not reduce residential dwelling supply: RBA's Jonathan Kearns

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<p><span>Property developer Glenvill sold all of their first release of 19<span> </span>townhouses in their new development Y<span>arraBend The Mills</span> in Alphington within three hours on its Saturday launch.</span></p>
<p><span>They fetched nearly $19 million combined.</span></p>
<p><span>Two additional releases that were scheduled for next year have now been brought forward.</span></p>
<p><span>The two and three bedroom townhouses release of the were sold to mainly local Melbourne residents. </span></p>
<p><span>There was a 95 percent clearance rate in the release of the first townhouse precinct a year ago.</span></p>
<p><span>Ashley Bramich, Glenvill's sales and marketing director said there has been a strong demand from the market to buy into YarraBend.</span></p>
<p><span>“We are very pleased with how the market is responding to residences released in YarraBend and because of the high level of interest in The Mills, we decided to release more two and three bedroom townhouses scheduled for next year, and with that brought forward sales for $23,520,000 of stock to meet demand” Bramich says. </span></p>
<p><span>“Some drawcards that have attracted buyers to The Mills precinct include the prime location within the development, just 200 metres from the Yarra River and at the heart of the community close to the many amenities that will be on offer, as well as the quality industrial chic design of the townhouses.” </span></p>
<p><span>The YarraBend development is located just 6.5km from Melbourne’s CBD in Alphington and The Mills precinct has been designed to reflect the site’s industrial heritage, featuring sawtooth roofs, brick bookends and raw materials with refined finishes.</span></p>
<p><span style="font-size: 12.16px;"> </span><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/20/Bend2.jpg" alt=""></span></p>
<p><span>CEO of YarraBend, Len Warson, highlights that people are not only buying into the development due to factors such as location, the premium amenity offering and quality of the build, but they are also buying into the vision for YarraBend. </span></p>
<p><span>“YarraBend offers a unique way of living. We have explored what people value and incorporated these insights into a considered design that pushes the boundaries on what is currently available in the market,” Mr. Warson explains. </span></p>
<p><span>“The design of YarraBend is founded on six visionary pillars - </span><span>art and design, food and entertainment, health and wellness, sustainability, technology and knowledge.” </span></p>
<p><span>“Results to date show that our vision is something that clearly resonates with buyers and investors.”</span></p>
<p>For more information <a href="https://yarrabend.com.au/the-mills/.%20" target="_blank">click here</a>.</p>
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jrobinson-rf4aSBido9

Townhouses in YarraBend’s newest release, The Mills, sell out within three hours

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<p>Coronation Property’s ‘PS I Love You’ marketing campaign for its mixed-use tower in Parramatta, 8 Phillip Street, has been recognised by REA Group at its annual excellence awards (AREAs) for New Home Marketing Campaign of the year.</p>
<p>The awards were held in Melbourne late last week and recognise outstanding innovation and success in the real estate and media industries, according to REA Group Executive General Manager – Residential, Andrew Rechtman.</p>
<p>The campaign for Coronation Property’s 8 Phillip Street project, created by Frost* Collective, also took out the Marketing Award at the 2017 UDIA NSW Awards for Excellence in August this year.</p>
<p>P.S I Love You was a hugely successful eight-week campaign launched in late September last year which eventually saw around 150 apartments snapped up within hours of their release in November.</p>
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<p><span>Coronation </span><span>Property’s Managing Director Joseph </span><span>Nahas said the recent award was the icing on the cake following an incredible sales campaign for the project, which will start to come to life early next year with the start of construction.</span></p>
<p><span>“With a ‘dream team’ in place comprising the very best international collaborators, such as </span><span>Domenic Alvaro of Woods Bagot for building design and Jamie Durie of Durie Design for landscaping, amongst others, we knew that the campaign did not really </span><span>need to ‘sell’ the </span><span>offering as much as showcase </span><span>it,” Mr Nahas said. </span></p>
<p><span>“The tagline and campaign for ‘</span><span>P.S I love you</span><span>’ </span><span>conveyed this perfectly, in terms of what it will mean to be a resident at 8 Phillip Street and the lifestyle that you can come to expect and love at the address</span><span>.” </span></p>
<p><span>These outstanding lifestyle offerings include a rooftop bar on the 55-</span><span>storey building’s </span><span>upper floors, a QT boutique hotel on the lower levels and the finest of dining options on offer, with </span><span>Neil Perry’s Rockpool Dining Group having signed with the developer to open two </span><span>restaurants on site - Saké and Rockpool Bar &amp; Grill. </span></p>
<p><span>In addition, the imagery for the PS I Love You campaign included the visionary, </span><span>‘cut away’ </span><span>component of the building above the QT Hotel which features an open-air pool and spa.</span></p>
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<p><span>The tagline for the campaign </span><span>arose organically from the popular saying, “</span><span>Love the life you </span><span>live. Live the life you love,” which </span><span>Mr Nahas said resonated particularly strongly with local purchasers, who have comprised over 70 per cent of buyers into the development to date. </span></p>
<p><span>8 Phillip Street</span><span>’s </span><span>marketing came to life across signage, social media, online and print advertising, as well as skywriting and a 5-storey onsite mural by renowned street artist Steen Jones, while locals embraced the hashtag #PSILoveYou on social media. </span></p>
<p><span>Due for completion in 2020, the 55-storey 8 Phillip Street development will comprise 314 residences, with apartments to include one, two and three-bedroom configurations, as well as studio and penthouse options. </span></p>
<p><span>The project will also successfully integrate adjacent heritage-listed buildings - </span><span>St Andrew’s Church and St Andrew’s Hall </span><span>- into its design, with the development poised to sit atop the existing hall, and its internal structure to be the feature of a stunning new residential entrance.</span><span style="font-size: 12.16px;"> </span></p>
<p>Coronation Property are marketing Charlie Parker at Harris Park. To find out more about the development click here.</p>
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Coronation Property takes out REA’s Marketing Campaign of the Year Award 2017

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<div>2017 saw another large increase in global wealth, increasing by 6.4 per cent or (USD) $16.7 trillion to $280 trillion, driven by equity prices and non-financial assets, including housing.  </div>
<div> </div>
<div>Global wealth is projected by Credit Suisse to hit $341 trillion by 2022, driven largely by rapid growth in countries such as China and India. </div>
<div> </div>
<div>The US continued an unbroken run of gains since the financial crisis in 2017. </div>
<div> </div>
<div>The Eurozone saw the creation of 620,000 new US dollar millionaires as the currency picked up, and Australia once again punched above its weight in adding a further 202,000 millionaires, taking the total up from 958,000 to 1.16 million. </div>
<div> </div>
<div>Switzerland's wealth per adult has increased by by a thunderous 130 per cent since the turn of the century in US dollar terms to $537,600, albeit largely due to shifts in the exchange rate, according to the Credit Suisse 2017 Global Wealth Report. </div>
<div> </div>
<div>Among the countries in the world with available figures over the long term, Switzerland stands alone in seeing no decline in wealth inequality over the past century. </div>
<div> </div>
<div>Home to just 0.01 per cent of the global population, Switzerland alone accounts for some 1.7 per cent of the top 1 per cent of global wealth holders, with several thousand ultra-high net worth individuals with personal wealth in excess of $50 million. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Lucky country</span></strong></div>
<div> </div>
<div>Switzerland is something of an exceptional case as a tax haven, but next in line comes Australia with a mean wealth per adult of $402,600, partly driven by "high property prices in the capital cities", somewhat perversely.</div>
<div> </div>
<div>Australian household wealth gains have averaged 12 per cent per annum since the turn of the century, and the average debt to assets ratio is surprisingly low at only 20 per cent. </div>
<div> </div>
<div>68 per cent of Australian adults have a net worth of above $100,000, which is some eight times the world average. </div>
<div> </div>
<div>Meanwhile, New Zealand's wealth per adult moved ahead of Norway into fourth place in 2017. </div>
<p> </p>
<div class="separator"><img src="https://3.bp.blogspot.com/-oAbxOVJ3duU/WhAVKmtzpKI/AAAAAAAAnE4/mChi9Lws_5IQxWjWNSvVkAruPutHLyuhwCLcBGAs/s640/Australia.jpg" width="640" height="394" data-original-height="829" data-original-width="1340"></div>
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<div><span>Wealth inequality is relatively low in Australia, with a far smaller share of the population having a net worth of under $10,000 than the United Kingdom or US. </span></div>
<div><span> </span></div>
<div><span>Indeed, when measured in median terms Australia's wealth per adult of $195,417 is not too far off the highest in the world, with only Switzerland edging us out at $229,059. </span></div>
<div><span> </span></div>
<div><span>There are now 36 million high-net worth individuals in the world with a net worth of $10 to $50 million.  </span></div>
<div><span> </span></div>
<div><span>Some 2 million of them are located in China - nearly 40 times as many as at the turn of the century - with a further 6.3 million in India and other Asia-Pacific countries.  </span></div>
<div><span> </span></div>
<div><span>Perhaps not unrelated to this, Australia is projected to be home to 1.7 US dollar millionaires by 2022, up from 1.16 million today.</span></div>
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pwargent-M4siyDbqQY

Batting well as 68 per cent of Australian adults have a net worth of above $100,000

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<p class="p1">A three-bedroom duplex unit at Tweed Heads is on auction after the mortgagee took possession.</p>
<p class="p2">The architecturally designed home at <a href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-tweed+heads-126964178" target="_blank">1/27 Charles Street</a> offers a touch of luxury and has ocean views.</p>
<p class="p2">Access to the living areas on the top level of this home is via lift from the ground floor garage, or there is glass encased timber stairs.</p>
<p class="p2">The home has uninterrupted views spanning from Kingscliff through to Coolangatta.</p>
<p class="p2">According to <a href="https://www.auhouseprices.com/auction/result/NSW/35251164/1-27+Charles+St%2C+Tweed+Heads+NSW+2485/" target="_blank">AU House Prices</a> website, the unit was passed in earlier at a listed price of $970,000.</p>
<p class="p2">The listing agent is Jason Abbott of PRDnationwide.</p>
<p class="p2"><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/2017/11/15/TweedHeadsMortgagee2.jpg" alt=""></p>
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Tweed Heads property listed for auction by mortgagee

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<p>The average floor size of an Australian home (houses and apartments) has fallen to a 20-year low, though latest data indicates that Australian homes are the second biggest in the world, behind the US.</p>
<p>Data commissioned by CommSec from the Australian Bureau of Statistics, shows the average new home is 189.8 square metres, down 2.7 per cent over the past year and the smallest since 1997.</p>
<p>The smaller home size can be attributed in a major way to the increased apartment construction, CommSec said in the report.</p>
<p>Although free-standing houses are still bigger. </p>
<p>In fact, the average new house built in 2016/17 was 233.3 square metres, the biggest in four years and more than 11 per cent bigger than 20 years ago. </p>
<p>The average house built today is over 30 per cent bigger than 30 years ago (the 1986/87 financial year).</p>
<p>On average, US houses are still bigger by around 5 per cent. And US homes (houses and apartments) are 8 per cent bigger.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/11/17/NewHomesBuilt.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/11/17/NewHomesBuilt.png" alt=""></p>
<p>Victorians are building the biggest houses in Australia, ahead of Western Australia and NSW. But the average size of houses built in South Australia in 2016/17 was the biggest in the state’s history.</p>
<p>In fact, the size of the average new house has grown slightly over the past two years. </p>
<p>House sizes are important when comparing prices over time, the CommSec report says. </p>
<p>“Not only are houses far bigger than those built in the 1980s and before, but the standard of fit-out today is far superior with quality kitchens, bathrooms, floor coverings and inclusions like air-conditioners,” it said.</p>
<p>Compared to US, Australian homes are the second biggest in the world.</p>
<p>The average new house built in the US last calendar year (latest available) was 245 sqm, around 5 per cent bigger than in Australia. And US homes (houses and apartments) averaged 204 sqm in 2016, around 8 per cent bigger than in Australia.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/11/17/AvgHomeSize.png" target="_blank">Click to enlarge</a></p>
<p> <img src="https://www.urban.com.au/images/2017/11/17/AvgHomeSize.png" alt=""></p>
<p>Neighbouring New Zealand is not far behind, with the average home built in 2016/17 (data on houses isn’t available) being 178.3 sqm, around 6 per cent smaller than in Australia.</p>
<p>The last global survey conducted by the United Nations indicates that the average floor area of new homes built in US, Australia and New Zealand were far larger than in other European economies.</p>
<p>In recent years a key trend in Australia has been the rise in construction of apartments, which now make up nearly half of all homes built unlike seven years ago when only around 27 per cent of homes built were apartments. </p>
<p>The increase in the number of apartments being built has reduced the size of the average home in Australia. </p>
<p>In fact the average home was 189.8 sqm in 2016/17, the lowest level in 20 years and down 2.7 per cent on a year ago.</p>
<p>Through the 2004-2009 period, the average apartment was around 140 sqm. Today, it is closer to 130 sqm.</p>
<p>“The shift to smaller apartments may mean that more of them need to be built to house the growing population compared with free-standing houses. And this point emphasises that when considering issues like under-supply and over-supply, a range of issues need to be considered,” says the report.</p>
<p>Five years ago economists were baffled by the failure of home building to lift to the level of assumed underlying demand. However the “apparent paradox” was explained by structural change such as demographics and increased utilisation of Australia’s large homes.</p>
<p>Now household size is falling again, and at the same time that the average home size is also falling. If current trends continue, more homes can be built without resulting in over-supply conditions. In short, supply would merely be responding to stronger demand. </p>
<p>“The key point being that it is not just population, but demographics and choice of accommodation driving demand,” says the report.</p>
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Australian home size hits 20-year low: CommSec report

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<div>All mainland capital city auction clearance rates have eased to below 70 percent under the weight of heightened spring listings coinciding with banking lending hesitancy.</div>
<div> </div>
<div>Melbourne still ranks as the strongest market, but at a 69.6 percent weekend success rate. The same time last year Melbourne's vendors were securing a 79 percent success rate under the hammer.</div>
<div> </div>
<div>A Toorak home was among the many passed in offerings around the country when bidding stopped at $12.2 million. They had wanted $14.5 million plus for <a href="https://www.realestate.com.au/property-house-vic-toorak-126766574" target="_blank" rel="noopener noreferrer">the 1930s bungalow on its 1700 sqm Russell Street parcel</a> which sold at $9.28 million in 2015.</div>
<div> </div>
<div>Another Toorak house was passed in on a $6.5 million vendor bid.</div>
<div> </div>
<div>Melbourne's top result was a $4.125 million sale in Canterbury, a Stonehaven designed and built split-level contemporary residence.</div>
<div> </div>
<div>The price guidance on <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-126754338" target="_blank" rel="noopener noreferrer">23 Maling Road</a> (picture above) had been $3.9 million to $4.29 million.</div>
<div> </div>
<div>Tasmania was the surprise performer.</div>
<div> </div>
<div>Tasmania's busy weekend saw seven auction results reported, returning a preliminary clearance rate of 85.7 per cent.</div>
<div> </div>
<div>A ground floor executive apartment at George Town in regional Tasmania fetched $3.125 million. It was <a href="https://www.realestate.com.au/property-apartment-tas-george+town-126586574" target="_blank" rel="noopener noreferrer">a three bedroom 175 sqm apartment</a> on the Tamar on the north coast of Tasmania.</div>
<div> </div>
<div>The results also included a <a href="https://www.realestate.com.au/sold/property-house-tas-west+moonah-126730774" target="_blank" rel="noopener noreferrer">three bedroom 1959 weatherboard house at West Moonah</a> which sold pre-auction at $261,000. It had last sold in 2000 at $67,500. </div>
<div> </div>
<div>CoreLogic advised it was the third busiest weekend for auctions so far this year returning a national preliminary clearance rate of 65.4 per cent across 3,335 auctions.</div>
<div> </div>
<div>There was a 62.8 per cent success rate across 2,907 auctions last week.</div>
<div> </div>
<div>"This time last year, 2,987 homes were taken to auction and a clearance rate of 74.4 per cent was recorded," CoreLogic auction analysts Kevin Brogan noted.</div>
<div> </div>
<div>The final clearance rate has remained below 65 per cent for the last four weeks.</div>
<div> </div>
<div>He noted one of the biggest contributors to the softer auction market conditions is Sydney, where the final clearance rate has remained below 60 per cent since the last week of October, while Melbourne has slipped below 70 per cent for the second week in a row.</div>
<div> </div>
<div>Melbourne was host to 1,717 auctions this week and a preliminary clearance rate of 69.6 per cent was recorded, making it the second busiest week for auctions in Melbourne this year.</div>
<div> </div>
<div>Last week saw the final clearance rate drop to 69.2 per cent across 1,296 auctions, the lowest clearance rate the city has seen since the beginning of July 2016.</div>
<div> </div>
<div>One year ago, 1,303 auctions were held across Melbourne and 79.4 per cent were successful.</div>
<div> </div>
<div>Its results included The Block winners Elyse Knowles and Josh Barker who sold their Coburg renovation project, just weeks after pocketing $547,000 winnings for their Elsternwick efforts.</div>
<div> </div>
<div>Stong bidding took <a href="https://www.realestate.com.au/property-house-vic-coburg-126699946" target="_blank" rel="noopener noreferrer">the Coburg sale price to $1.631 million</a> as four bidders fought for the offering. </div>
<div> </div>
<div>The price expectations for the renovated California-style bungalow sat between $1.35 million and $1.45 million.</div>
<div>
<br>It sold in original condition in 2014 for $600,000.</div>
<div> </div>
<div>Across Sydney, preliminary results show that 61.5 per cent of the 756 reported auctions sold this week.</div>
<div> </div>
<div>There were 1,035 properties taken to auction across the city, down from 1,102 last week when the final clearance rate was recorded at 58.5 per cent.</div>
<div> </div>
<div>Over the same week last year, 1,082 auctions were held and a clearance rate of 79.6 per cent was recorded.</div>
<div> </div>
<div>In Sydney a large Paddington offering was the weekend's big seller with six registered buyers seeking the six bedroom Harris Street offering that fetched $5.16 million.</div>
<div> </div>
<div>It was on the market for the first time in 60 years.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-nsw-paddington-126720598" target="_blank" rel="noopener noreferrer">The 412sqm landholding</a> featuring a freestanding double-fronted main residence and a self-contained cottage with separate frontage had a R3 Zoning.</div>
<div> </div>
<div>The preliminary clearance rate in Brisbane rose to 49.6 per cent across 213 auctions this week, from 44.1 per cent across 209 auctions last week, while this time last year 262 auctions were held and a clearance rate of 45.2 per cent was recorded. </div>
<div> </div>
<div>Brisbane prices ranged from $344,000 at Margate to $1,415,000 at Milton.</div>
<div> </div>
<div>In Adelaide, a 66.3 per cent preliminary result was recorded this week across 146 auctions. Last week, 128 Adelaide auctions returned a clearance rate of 62 percent for the city, while at the same time last year, 137 homes were taken to auction, with 66 percent recording a successful result.</div>
<div> </div>
<div>Adelaide's top advised result to Domain was just $801,000 when a 1910 three bedroom house <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-126828162" target="_blank" rel="noopener noreferrer">95 Kenilworth Rd, Parkside</a> was sold. It had sold at $613,000 in 2007.</div>
<div> </div>
<div>Adelaide had the cheapest sale across Australia when $199,000 secured 8 McCartney St, Morphett Vale.</div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-house-sa-morphett+vale-126297354" target="_blank" rel="noopener noreferrer">The Morphett Vale brick veneer and tile residence</a> was marketed as having "been subjected to termite damage" compromising the integrity of the home.</div>
<div> </div>
<div>"The home offers the experienced builder or those looking to acquire the property at potentially less than land value an opportunity to capitalise on 560 sqm in a great location," the marketing advised.</div>
<div>"This property is not for the faint hearted," it added.</div>
<div> </div>
<div>It had been a $300 a week rental for many years, having last sold in 1994 for $83,500.</div>
<div> </div>
<div>Perth’s clearance rate of 60 per cent across 25 auction results is up from last week, when 40 auctions were held and a clearance rate of 50 per cent was recorded.</div>
<div> </div>
<div>Canberra was the second strongest weekend market.</div>
<div> </div>
<div>Across Canberra, 130 homes were taken to auction with a clearance rate of 67.6 per cent, down slightly from 69.7 per cent the previous weekend. </div>
<div> </div>
<div>Prices ranged from $427,500 at Theodore to $1.64 million at O'Connor.</div>
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Clearance rates sits below 70 percent in all mainland capitals

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<p class="p1">A Toorak property with potential for further development has been snapped up by a Melbourne developer at auction for $6.4 million.</p>
<p class="p2">The <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-126537138" target="_blank">22 Lansell Road</a> property is a single level residence and was marketed as a redevelop, rebuild or renovate opportunity. According to the selling agents, the property sold at a record land rate.</p>
<p class="p2">The selling agents were Teska Carson’s George Takis and Barry Novy, along with RT Edgar’s Jeremy Fox and Tim Wilson.</p>
<p class="p2">Located on the corner of Tahara Road and surrounded by some of Melbourne’s most prestigious homes, the property comprises a large, two bedroom, home with library, double lock-up garage and landscaped gardens on a 606 sqm site.</p>
<p class="p2">Takis said a redevelopment, including a penthouse elevation, could offer city and bay views.</p>
<p class="p2">“This was an extremely strong result, and a superb result for the vendor, reflecting the ongoing strength of the market for properties in exclusive locations,” Takis said</p>
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Toorak property sells at record land rate 

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<p>The Gurner development of The Spanish Club in Fitzroy has now been approved by VCAT as a result of Supreme Court win earlier in the year.</p>
<p>There will be no changes to the original plans outlined that were denied by the VCAT earlier this year.</p>
<p>The decision has come two years after the project was first submitted for approval.</p>
<p>The proposal was first denied a permit at VCAT in May this year on a minor technicality surrounding a neighbouring property, despite the project having general support from VCAT.</p>
<p>Gurner then appealed the decision in the Supreme Court in June and later won the case due to the developer being “denied procedural fairness”, according to the judge.</p>
<p>The appeal allowed the developer the opportunity to re-submit the project to VCAT under a different panel, but not before GURNER™ held three mediation dates with council and neighbours in order to ensure all initial objections could be mitigated.</p>
<p>In what represents a full circle for the developer, the project was finally awarded a permit for 38 apartments over seven levels across the 787sqm site by VCAT with not a single change to its original plans, which include a new Spanish bar and restaurant and clubhouse facilities for The Spanish Club at ground level.</p>
<p>The project is being designed by Warren and Mahoney and will incorporate Spanish-inspired interiors that will be unlike anything on the market currently.</p>
<p>“This has been a long and difficult process but we are happy to be able to put it all behind us and move forward with our plans to reinvigorate The Spanish Club along with our original plans that we first submitted to VCAT two years ago,” said Tim Gurner, the company's founder and director.</p>
<p><span style="font-size: 12.16px;">“We are now preparing for an early 2018 launch.</span><span class="Apple-converted-space" style="font-size: 12.16px;"> </span></p>
<p class="p4"><span class="s1">“Fitzroy is an area I feel so passionate about, we have been developing in this area for over ten years and have been working with some of Melbourne’s best restauranteurs and winemakers to not only develop quality apartments, but also to deliver world-class cafés, bars and restaurants at the ground level. <span class="Apple-converted-space"> </span></span></p>
<p class="p4"><span class="s1">Under the proposed agreement between The Spanish Club and Gurner, the developer was to absorb the Club’s debt and transfer ownership of that debt into the developer’s name to ensure that the banks could not pursue the Club for costs whilst the redevelopment was ongoing.</span></p>
<p>Established in 1969 along Fitzroy’s effervescent Johnston Street, The Spanish Club was founded by Padre Eduardo Sanchez, the Chaplin to the Spanish, who persuaded the Spanish government to partially assist in purchasing the building to serve as a social centre.</p>
<p>The club was originally called The Spanish Roman Catholic Mission, before later being renamed ‘Hogar Español’ meaning Spanish home.</p>
<p>The club quickly grew to become a home away from home for hundreds of Spanish immigrants settling in Australia in the late 50s and early 60s, and over the years it evolved to offer extensive social and education opportunities for the Spanish and wider community.</p>
<p> </p>
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