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

<html><body>
Glen Innes is the location in NSW where it takes the longest time to sell a house, according to Investar’s latest report.
The property investment firm calculates that houses in Glen Innes typically take 791 days to sell.
This was followed by Quirindi with 651 and Narrandera with 614.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="85">
Suburb
</td>
<td valign="top" width="54">
Postcode
</td>
<td valign="top" width="60">
Bedrooms
</td>
<td valign="top" width="97">
Days on market
</td>
<td valign="top" width="113">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="85">
Glen Innes
</td>
<td valign="top" width="54">
2370
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
791
</td>
<td valign="top" width="113">
$395,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Quirindi
</td>
<td valign="top" width="54">
2343
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
651
</td>
<td valign="top" width="113">
$310,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Narrandera
</td>
<td valign="top" width="54">
2700
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
614
</td>
<td valign="top" width="113">
$290,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Tumbarumba
</td>
<td valign="top" width="54">
2653
</td>
<td valign="top" width="60">
3
</td>
<td valign="top" width="97">
592
</td>
<td valign="top" width="113">
$235,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Moree
</td>
<td valign="top" width="54">
2400
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
547
</td>
<td valign="top" width="113">
$381,500
</td>
</tr>
<tr>
<td valign="top" width="85">
Palm Beach
</td>
<td valign="top" width="54">
2108
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
530
</td>
<td valign="top" width="113">
$2,660,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Gloucester
</td>
<td valign="top" width="54">
2422
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="97">
527
</td>
<td valign="top" width="113">
$415,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Deniliquin
</td>
<td valign="top" width="54">
2710
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="97">
525
</td>
<td valign="top" width="113">
$150,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Kyogle
</td>
<td valign="top" width="54">
2474
</td>
<td valign="top" width="60">
3
</td>
<td valign="top" width="97">
525
</td>
<td valign="top" width="113">
$305,000
</td>
</tr>
<tr>
<td valign="top" width="85">
Parkes
</td>
<td valign="top" width="54">
2870
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="97">
524
</td>
<td valign="top" width="113">
$190,000
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-glen+innes-123918494" target="_blank">11 Cramsie Crescent</a>, Glen Innes (above) was sold on May this year for $399,000.
It spent 255 days on the market after being listed since September 2016.
Another four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-glen+innes-106694655" target="_blank">242 Ferguson Street</a>, Glen Innes (below) was sold in February this year for $255,000.
It had been listed since 2010, mostly with a $285,000 asking price. It last sold at $135,000 in 2003.
<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/2017/08/03/242%20Ferguson%20Street.jpg" alt="">
Another four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glen+innes-121181862" target="_blank">101 Wentworth Street</a>, Glen Innes (below) has been listed since November 2015 for $399,950.
Built in 1890 the property was sold in 2010 for $265,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/02/101%20Wentworth%20Street.jpg" alt="">
Another four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glen+innes-104161550" target="_blank">100 West Avenue</a>, Glen Innes (below) has been listed for $395,000 since May 2007 when it came with a $440,000 asking price.
<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/2017/08/03/100%20West%20Avenue.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

NSW's slowest property market - Glen Innes houses take 791 days to sell: Investar

<html><body>
<img src="https://counter.theconversation.edu.au/content/80965/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A new report by the Australian Housing and Urban Research Institute (AHURI) reveals, for the first time, the extent of housing need in Australia.
An estimated 1.3 million households are in a state of housing need, whether unable to access market housing or in a position of rental stress. This figure is predicted to rise to 1.7 million by 2025.
To put it in perspective, 1.3 million is around 14% of Australian households. This national total includes 373,000 households in New South Wales, where the number is expected to increase by 80% to more than 670,000 by 2025 under the baseline economic assumptions of the modelling.
The first graph below shows the average annual level of housing need to 2025. The second, showing the percentages of households, permits a direct comparison by state. NSW and Queensland are in the worst position. The ACT is calculated to have the lowest proportional level of need.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.17.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.17.48%20AM.png" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.18.59%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.18.59%20AM.png" alt="">
What does this mean for households in need?
Housing need is defined as:
… the aggregate of households unable to access market-provided housing or requiring some form of housing assistance in the private rental market to avoid a position of rental stress.
This includes potential households that are unable to form because their income is too low to afford to rent in the private rental market. These households would traditionally rely on public housing and community housing to meet their needs. However, more and more are being forced into the private rental market, paying housing costs they are unable to afford without making significant sacrifices.
To 2025, on average 190,000 potential households in NSW will be unable to access market housing in a given year. The graph below is the most revealing as it illustrates the gap between affordable housing demand and supply.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.19.54%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%2011.19.54%20AM.png" alt="">
The lack of social housing and subsidised rental housing prevents such households forming under affordable conditions. Many will manage to form but will have to spend well over 30% of their income on housing costs to do so, putting them in a position of financial stress.
The results also reveal the increasing pressure the affordable housing shortfall places on the housing assistance budget, notably Commonwealth Rent Assistance.
The absence of a significant new supply of affordable housing – there has been no large-scale program since the National Rental Affordability Scheme (NRAS) began in 2008 – has left state governments trying to find ways to plug the affordability gap.
Responses have been largely on the demand side, such as first home buyer concessions recently announced in NSW. But such incentives are no use for low-income households. To help them, intervention needs to be on the supply side.
How does Australia compare?
The AHURI research built on ideas emerging from research into housing need in the UK. It revealed interesting differences between the two countries.
UK government policy prior to 2010 emphasised the role of the planning system in helping to substantially increase affordable housing supply. This reflected evidence from England and Scotland that found a link between low levels of new housing supply and higher and rising house prices.
In this project, we found plenty of evidence of deteriorating housing affordability in Australia. But we did not find a particularly strong relationship between housing supply and  price growth. This might reflect how other drivers of deteriorating housing affordability are more important in Australia – such as tax incentives for investors.
These findings suggest we need to look more closely at how new supply and investment demand interact, and in what circumstances boosting new supply is likely to improve affordability.
From our analysis of individuals’ labour market circumstances and incomes, it was also clear that the Australian workforce has not escaped the erosion of secure, full-time employment opportunities seen in other countries.
The combination of widespread insecure, part-time employment opportunities, high housing costs and low supply of rented social housing means the housing of many working Australians is extremely precarious.
How was the research done?
The research modelled housing need at the state and territory level to 2025 using an underlying set of economic assumptions and interrelated models on household formation, housing markets, labour markets and tenure choice.
The models were underpinned by data from the Housing, Income and Labour Dynamics in Australia (HILDA) Survey, the Australian Bureau of Statistics (ABS) and house price and rent data.
This research delivers, for the first time in Australia, a consistent and replicable methodology for assessing housing need. It can be used to inform resource allocation and simulate the impact of policy decisions on housing outcomes.
The intention is to further develop the model to assess housing need at the level of local government areas.
So, what are the policy implications?
The scale of the affordable housing shortfall requires major action from federal and state governments.
NRAS had its problems but at least delivered a supply of below-market housing. Australia cannot rely on the private sector to deliver housing for low-income households without some form of government subsidy as it is simply not profitable to do so.
The question is what government is going to be prepared, or even able, to spend big to close the affordable housing supply gap?
<a href="https://theconversation.com/profiles/steven-rowley-201914">Steven Rowley </a>is Director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University.
<a href="https://theconversation.com/profiles/chris-leishman-391783">Chris Leishman</a> is Professor of Housing Economics, University of Adelaide.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
</body></html>

jchancellor-FAypfDUnLy

Affordable housing shortfall leaves 1.3m households in need and rising – study

<html><body>
Residential values in Illawarra continue to increase, according to Herron Todd White’s latest report.
The property advisory firm says that the greater Wollongong area will become "unaffordable" in the future.
“Values continue to increase across the Illawarra and as a result, those with $500,000 to spend have less and less to purchase.
“North of Wollongong, possibilities are limited to older 2-bedroom townhouses or units in suburbs such as Corrimal, Bellambi, Woonona and Thirroul.
“It may also be possible to purchase a bush block in Wombarra or Coledale, however there wouldn’t be a building entitlement and the purchaser would be taking a big risk if they were hoping to get approval to build a dwelling.
“Around the Wollongong CBD it is getting hard to find 2-bedroom units even in older complexes for less than $500,000.
“There are plenty of 1-bedroom units available priced from about $375,000,” the report stated.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-wollongong-125080534" target="_blank">108/19 Market Street</a>, Wollongong (above) has been listed for $350,000.
South of the CBD are more affordable, but will be older styled Herron Todd White comments.
“Moving south of the CBD and we come across the first suburbs where $500,000 will be able to buy a single residential dwelling.
“Locations such as Cringila, Warrawong, Lake Heights and Berkeley still offer older style small 2- or 3-bedroom dwellings although these will be in fair condition.
“Units, villas and townhouses are all the most likely property types that can be purchased in the Shellharbour for under half a million dollars.
“Most 2-bedroom strata properties are priced under this mark and in areas such as Albion Park Rail it is possible to purchase an older style 3-bedroom townhouse for between $450,000 and $500,000,” the report commented.
A three bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-nsw-albion+park+rail-125978622" target="_blank">3/38 Bateman Avenue</a>, Albion Park Rail (below) has been listed for between $465,000 to $485,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/25/3_38%20Bateman%20Avenue.jpg" alt="">
Herron Todd White says that new residential land releases are available for less than $500,000.
“Not to be forgotten are the new residential land release areas where regular 300 to 600 square metre vacant lots are available for less than $500,000 in estates such as Calderwood, Horsley and Wongawilli.
“Growth in the Shoalhaven residential market has also been strong and there are now many houses in Nowra that are no longer available for less than $500,000.
“However in Nowra and surrounding suburbs it is still possible to purchase a 3- or 4-bedroom family home under $500,000 and this is the same for locations such as Culburra Beach, Sanctuary Point and Sussex Inlet.
“As an investment we would recommend areas still deemed affordable in the Shoalhaven such as properties in and around Nowra and the coastal suburbs of Callala Beach, Callala Bay and Culburra Beach.
“While all locations have had sustained growth for a while now, we believe that the Shoalhaven will continue into the short to medium term as the greater Wollongong region becomes more unaffordable and road links get better and better with the Berry bypass underway and the Albion Park bypass planned,” the report stated.
</body></html>

Illawarra residential values continues to rise: HTW

<html><body>
Half a million dollars is enough to buy a home in the Tamworth region, according to Herron Todd White’s July report.
The property investment firm says that those wishing to upgrade are the main market.
“The lazy half million gives buyers the opportunity to buy a quality home in the Tamworth region without having to sacrifice any of the creature comforts.
“$500,000 will get you a near new, large brick veneer home of a quality fit-out in the expanding suburbs of Calala, North Tamworth or Moore Creek, or if new is not your style it will buy a renovated brick federation home in East Tamworth or North Tamworth.
“This price range also gives buyers the opportunity to move out of town onto small acreage (one to five hectares) with an older dwelling (1970 up) in original but good condition.
“With the Tamworth median house price sitting around $360,000, half a million dollar houses are certainly not what first home owners or investors are looking for.
“At this price range we are seeing upgraders and families as the main target market.
“The best performer at this price range would be the small acreage properties or the older homes in East Tamworth, both of which are experiencing good growth in land values and capital gains,” the report stated.
Investors can benefit from the return potential in Tamworth Herron Todd White says.
“For investors this price opens up the potential for a modern duplex or older unit block or triplex.
“While these options offer little in the way of capital growth a gross return on investment of 6% to 8% is easily achieved.
“The other option would be to purchase two separate properties, with plenty of reasonable properties available at the $250,000 mark that provide potential for capital growth as well as strong rental returns
“We believe this market will continue to be a strong contender within the Tamworth market.
“With the introduction of the new stamp duty rules for first home buyers and continuing low interest rates, we expect there will be more activity in the $250,000 to $400,000 market which will open up more opportunities for those looking to upgrade and move into the next price bracket,” the report commented.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-125732778" target="_blank">11 Wickham Street</a>, Tamworth (above) has been listed for $358,000.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-125732778" target="_blank">83 Crown Street</a>, Tamworth (below) has been listed for $375,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/83%20Crown%20Street.jpg" alt="">
</body></html>

Half a million more than enough for Tamworth homes: HTW

<html><body>
Broken Hill has the highest house rental yield in New South Wales, according to Real Estate Investar’s latest report.
The property investment firm says that Broken Hill’s house rental yield is 10 percent.
This is followed by Kincumber with 8% and Coonamble, Wellington, Condobolin and North Albury with 7 percent.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="85">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="117">
Current median rent
</td>
<td valign="top" width="79">
Rental yield
</td>
</tr>
<tr>
<td valign="top" width="85">
Broken Hill
</td>
<td valign="top" width="64">
2880
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$200
</td>
<td valign="top" width="79">
10%
</td>
</tr>
<tr>
<td valign="top" width="85">
Kincumber
</td>
<td valign="top" width="64">
2251
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$365
</td>
<td valign="top" width="79">
8%
</td>
</tr>
<tr>
<td valign="top" width="85">
Coonamble
</td>
<td valign="top" width="64">
2829
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="117">
$200
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="85">
Wellington
</td>
<td valign="top" width="64">
2820
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$185
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="85">
Condobolin
</td>
<td valign="top" width="64">
2877
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="117">
$240
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="85">
North Albury
</td>
<td valign="top" width="64">
2640
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="117">
$240
</td>
<td valign="top" width="79">
7%
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-414321527" target="_blank">307 Piper Street</a>, Broken Hill (above) is available for $190 per week.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-414377291" target="_blank">80 Gaffney Lane</a>, Broken Hill (below) is available for $200 per week.
It last sold in 2016 for $46,500, reflecting a 22% rental yield.
<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/2017/07/21/80%20Gaffney%20Lane.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-125288174" target="_blank">295 O'Farrel Street</a>, Broken Hill (below) was sold in July this year for $80,000, reflecting a 13% rental yield.
<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/2017/08/03/295%20OFarrell%20Street.jpg" alt="">
Another two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-125059282" target="_blank">41 Thomas Lane</a>, Broken Hill (below) was sold in July this year for $65,000, reflecting a 16% rental yield.
<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/2017/08/03/41%20Thomas%20Lane.jpg" alt="">
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Broken Hill the highest NSW house rental yield: Investar

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A 50 metre glowing sculpture will rise six metres out of the Yarra River designed by Melbourne artist Tracy Sarroff and feature 16 buoyant crystalline shards made from opaque acrylic, that will move with the tide and interact with pedestrians.
The development in the Yarra River at Yarra’s Edge in Docklands, named the Light Buoys, was commissioned by Yarra’s Edge developer, Mirvac, was inspired by the formation of reeds that are native to the Yarra.
Elysa Anderson, Mirvac’s General Manager of Residential Victoria said Light Buoys takes into account the design intent for the urban character of the Yarra’s Edge precinct and embraces the urban and riverfront nature of the precinct.
Artist Tracy Sarroff said she had been inspired by both science and science fiction to produce the artwork with its glowing shards of mostly cobalt blue and icy green shades, which will warm to red and pink hues when sonar sensors detect pedestrians moving closer.
“Light Buoys takes inspiration from science fact and science fiction, transforming what were once reeds and the West Melbourne Swamp, the work melds that natural past with a potential future,” she said.
“Although crafted using science and technology, the installation has life-like features: moving, breathing, pulsing and responding to the proximity of others.
“The installation enhances the locale and the riverside vista which are prime features influencing residents’ decision to move to Yarra’s Edge, while similarly enhancing the Yarra’s Edge experience for visitors and the art journey that exists along the Yarra."
Victorian Minister for Creative Industries, Martin Foley, officially launched the artwork in a ceremony on 1 August 2017.
 
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jonathanchancellor-7SQnKwU6yx

Light Buoys artwork illuminates Yarra's Edge, Docklands

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Melbourne’s Mornington Peninsula scored the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm calculated that out of the 39 auctions in the area 87.2 percent were successfully cleared.
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Screen%20Shot%202017-07-31%20at%2012.02.29%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/Screen%20Shot%202017-07-31%20at%2012.02.29%20pm.jpg" alt="">
This is followed by the North West region with 81.3% and the Outer East and South East with 80.9% for both.
The Inner East region had the lowest clearance rate with only 68.8% of its 77 auctions cleared.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-frankston+south-125853198" target="_blank">90 Yuille Street</a>, Frankston South (above) was sold over the weekend for $945,000.
Another four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-seaford-125881510" target="_blank">15 Milroy Crescent</a>, Seaford (below) was sold for $850,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/15%20Milroy%20Crescent.jpg" alt="">
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Melbourne's Mornington Peninsula scores 87 percent clearance rate

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Brisbane and Adelaide are both taking the same amount of time to sell a house, according to CoreLogic’s latest report.
The property data firm says that houses in both capitals are taking 61 days to sell while for units it is 77 days in both capitals.
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Screen%20Shot%202017-07-31%20at%202.12.49%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/Screen%20Shot%202017-07-31%20at%202.12.49%20pm.jpg" alt="">
Sydney and Melbourne both take around a month for properties to sell making it the fastest place to sell a property.
However units in Darwin can take up to 101 days to sell while houses in Perth can expect to stay for up to 85 days.
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Brisbane and Adelaide share same median time on market: CoreLogic

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Geelong held the top spot for the highest regional weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 26 auctions in Geelong 84.6% were cleared.
This is followed by the Sunshine Coast with 66.7% and the Hunter region with 65.4%
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Screen%20Shot%202017-07-31%20at%2012.02.40%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/Screen%20Shot%202017-07-31%20at%2012.02.40%20pm.jpg" alt="">
Gold Coast had the lowest with only 38.2% cleared.
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-belmont-125877410" target="_blank">47 Roslyn Road</a>, Belmont (above) was sold over the weekend for $600,000.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-bell+post+hill-125859534" target="_blank">10 Jedda Street</a>, Bell Post Hill (below) was sold for $420,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/31/10%20Jedda%20Street.jpg" alt="">
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Geelong takes top spot in regional weekend clearance rate: CoreLogic

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Melbourne was again the busiest and the best auction locality on the last weekend in July.
There were 943 auctions held across Melbourne on the weekend with a preliminary clearance rate of 77.2 per cent, increasing from a final clearance rate of 73.8 per cent last week across 833 auctions.
Over the same week last year, Melbourne’s clearance rate was 75.3 per cent across 754 auctions.
Of the nine Melbourne sub-regions, five recorded clearance rates above 80.0 per cent, with the highest clearance recorded across the Mornington Peninsula, with preliminary results showing 87.2 per cent of the 39 results were successful followed by the North West where 81.3 per cent of auctions cleared.
A French-style Balwyn house sold for $3.812 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-vic-balwyn-125831142" target="_blank">27 Burroughs Road</a>, the 2012 built home was last sold in 2013 for $3.27 million.
The property was offered through VicProp agents Jack Zhang and Janssen Xiang.
In Sydney, 704 properties were taken to auction this week with a preliminary clearance rate of 68 per cent.
"Last week, the final clearance rate for the city was 70.3 per cent across 625 auctions, after sitting below the 70 per cent mark for the previous six weeks, so it will be interesting to see what the final clearance rate is like," Kevin Brogan, CoreLogic's auction analyst said.
Looking at a wider trend of numbers, the second quarter growth has been weaker than the first quarter, CoreLogic's head of research Tim Lawless said.
Melbourne is now the absolute standout performer for 12-month growth, he noted.
“While it overtook Sydney a little earlier in 2017 it is now well and truly entrenched in that spot.
“The median in Sydney is now $1.05 million, while in Melbourne it is $755,000, so we are talking about a difference of $300,000,” he told The Herald Sun.
This time last year ago, 509 Sydney homes were taken to auction for a 78 per cent success rate.
This week, the performance across Sydney’s individual sub regions was mixed.
Across the South West region, where 47 of the 50 results have been reported so far, the preliminary clearance rate was 40.4 per cent, while across the Eastern suburbs it was 90 per cent and 81.8 per cent in the Inner West.
Sydney's top sale was a refurbished pre-Federation Killara house.
It sold for $5.26 million making it Sydney’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-nsw-killara-125805670" target="_blank">4 Stanhope Road</a>, the 1890 the property was last sold in 2013 for $3.722 million.
There were five bedrooms, three of them having their own ensuite, a study and 1000 bottle wine cellar.
The property was offered through McGrath agents Brent Courtney and Sarah Davis.
Domain calculated the Sydney house price weekend median was $1,405,000 and $859,000 for apartments.
It was $860,000 for Melbourne's median auction house price and $588,000 for apartments.
The last weekend of July saw another slight increase in preliminary auction clearance rate, according to CoreLogic.
The combined capital city preliminary clearance rate was recorded at 70.7 per cent this week, up slightly from last week, when the final clearance rate sat at 69.9 per cent.
Auction volumes were higher with 1,957 homes across the combined capital cities, up from 1,748 last week, and significantly higher than this time last year when 1,610 auctions were held.
There were 158 Brisbane homes taken to auction this week, with 116 results reported so far.
The Brisbane clearance rate was 53.4 per cent, up from 46.4 per cent last week and higher than one year ago, when 48.5 per cent of the 156 properties taken to auction were successful.
A four bedroom period Bowen Hills house sold for $1.475 million making it Brisbane’s most expensive weekend auction sale.
The <a href="https://www.realestate.com.au/property-house-qld-bowen+hills-125858954" target="_blank">31 Cintra Road</a> offering had been held by the same family for around nine decades - sold for the first time since it’s 1925 construction.
The property, with views to Mt Coot-tha, was offered through LJ Hooker agents Brett Greensill and Jermaine Jones.
Adelaide saw a preliminary clearance rate of 64.3 per cent, with 56 reported results across a total of 80 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 66.7 per cent and 68.8 per cent one year ago.
There were 25 Perth auctions this week and so far 15 results have been reported, with 26.7 per cent selling.
Canberra’s preliminary auction clearance rate of 74.4 per cent across 47 auctions is higher than both last week, when the final auction clearance rate was 71.8 per cent, and last year (74.3 per cent).
A five bedroom Peter Byfield-designed Red Hill house sold for $2.9 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-red+hill-125867986" target="_blank">58 Endeavour Street</a>, (above) the two-storey residence was offered through Luton Properties agents Richard Luton and Sophie Luton.
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