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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The Liverpool and Fairfield unit market have a healthy level of demand, according to Herron Todd White’s latest July report.
The property data firm says that units below $500,000 is available in those two areas.
“This time last year we mentioned the diminishing opportunities to enter the south-west property market within the sub $500,000 price point.
“That trend has certainly continued in this market segment and that price point is now ultimately reserved to units or vacant land within new subdivisions further from the central hubs of Liverpool and Fairfield.
“The Liverpool and Fairfield home unit market still offers plenty of stock available for under $500,000, although this is limited to older style, 1960s and 1970s low rise walk-up developments or new 1-bedroom units within modern or new high density developments.
“A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-warwick+farm-125309042" target="_blank">9/5 Drummond Street</a>, Warwick Farm (above) has been listed for $329,000.
“Similarly a one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-liverpool-125088022" target="_blank">73/12-18 Bathurst Street</a>, Liverpool (below) has been listed for $410,000.
<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/2017/07/03/73_12-18%20Bathurst%20Street.jpg" alt="">
“There are newer style 2000s built 2-bedroom units available under $500,000 however these are mostly second tier high density developments and no longer benefit from the brand new condition which appeals to investors and tenants alike,” the report stated.
However opportunities to enter the sub $500,000 market are impossible due to land values Herron Todd White advises.
“Opportunities to enter the dwelling sub $500,000 market within these locations is basically non- existent given that land value generally exceeds this price point.
“This market benefits from higher than average rental yields which can be appealing to investors, however this is usually a trade-off with weaker capital growth compared to coastal regions such as St George and Sutherland Shire LGAs south of Sydney or locations closer to the Sydney CBD,” the report advised.
Units in Liverpool and Fairfield have a stable demand Herron Todd White comments.
“Liverpool and Fairfield unit markets are currently steady with a healthy level of demand.
“This demand is likely to continue into the future given that these locations are the central hub of the south-west region and are easily accessible via motorways and public transport and within close proximity of the future Western Sydney Airport at Badgerys Creek,” the report commented.
Herron Todd White warns, however, that the unit market is likely to face downward pressure in values due to increasing supply and market conditions.
“As with many regions of Sydney, the unit market is likely to face some downward pressure on values in the near future due to the increasing supply of similar stock and general market conditions, particularly given that this market is heavily investor driven.
“Apart from home units, the other residential asset type sub $500,000 is vacant land located within new suburbs of the South West Priority Growth Area.
“This includes new suburbs such as Edmondson Park on the fringe of Liverpool LGA and further out such as Harrington Park within Camden LGA. Land values are continuing to rise in these suburbs with many lots now in the $400,000 to $500,000 range (or higher) and are generally 300 to 500 square metres.
“Once a parcel is secured, a buyer would then be looking at approximately $300,000 or more to build a family home.
“Such locations are more than 60 kilometres from the Sydney CBD, however are likely to benefit from the growth of the Parramatta and Liverpool regions and the future airport at Badgerys Creek," the report warned.
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j.ballantyne1990-6AQqhLzZaK

Liverpool and Fairfield unit market sees healthy demand: HTW

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When compared to Brisbane, Ipswich is relatively affordable, according to Herron Todd White’s latest July report.
The property data firm says that $500,000 can buy you property in a well established Ipswich area.
“Ipswich is a relatively affordable market, particularly in comparison to nearby Brisbane, therefore a lazy half million could buy you a semi renovated character style home in an established area of Ipswich or a modern house and land package on circa 500 square metres in a new estate.
“However we would be more inclined to seek the larger block of land with the character home in the established older suburb of Ipswich as the better performing property in the region.
“At this price point you could afford to purchase two properties in the Ipswich area, however a single property of the highest quality possible is more desirable, with features such as large land and character style home.
“This price point is likely to remain relatively stagnant in the short to medium term in line with the broader market for Brisbane.
“The market remains relatively affordable with rental returns in the order of 5% gross.
“Should there be improvement in interstate migration, this could in turn have a positive impact on the Ipswich market.
“A newly renovated four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-brassall-125908930" target="_blank">76 Bradfield Drive</a>, Brassall (above) has been listed for $549,000.
“Built in 1996 it was last sold in 2013 for $469,000 while the land was sold in 1995 for $43,000.
“Similarly a newly renovated four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-camira-125538654" target="_blank">102 Meier Road</a>, Camira (below) has been listed for $569,000.
It was last sold in 2004 for $215,000,” the report stated.
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Ipswich more affordable than Brisbane: HTW

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The growth in home values has eased in the June 2017 quarter, according to CoreLogic’s latest report.
For more information see the video below:
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tlawless-5VLUrbAk9s

Dwelling value growth softens in June 2017 quarter: CoreLogic's Tim Lawless

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Ever since the 2016 census data was released, there's been an explosion of articles written across many different outlets. Some are tackling <a href="https://theconversation.com/au/topics/is-australia-full-39068">quite broad range of topics</a> and others somewhat perplexingly focused on 'liveability', a construct of a foreign economics magazine whose original purpose was to inform managers on good places to live and expand businesses in.

As is always the case, the comment sections are equally as informative and in many cases, across multiple outlets, there are two broad camps emerging: the change movement - changing the status quo by altering the way we live and transport ourselves in our cities and the immigration reduction movement - changing the status quo by altering the amount of people who are allowed to settle in Australia.

Full disclosure - and I dare say many wouldn't be surprised by this - I am firmly in the camp of changing the way we live and transport ourselves in our cities, regardless of the rate of population growth.

In saying that however, it's been fascinating to absorb as much of the pro-immigration reduction movement's broad argument.

In a nutshell, this camp has a loose concept of 'sustainable' population growth that it clings to and more often than not it is solely focused on immigration to Australia, particularly the number of people who are provided visas and the like by the Federal authorities.

As we all know there are three primary components to population growth: natural increase (births minus deaths), net interstate migration and net overseas migration.  There's not a lot a government can really do about natural increase - humans are humans, we procreate.

It's the other two components that authorities can have a somewhat large impact on.  Net overseas migration is the issue du jour of the 'sustainable' population growth group and it's worth looking at the actual numbers.

<a href="http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/MigrationStatistics">Table 3 in this Australian Parliament House report</a> puts the numbers for net overseas migration out there for all to see.

In the past 20 years we've seen over 100k in 1995 with the rate dipping under 100k for the second half of that decade to the numbers being above 100k for the first half of the 2000s then we reach our peak in the years prior to the GFC.  In 2007 we had 277,000, 2008 315,700 (the modern-times peak) and in 2009 246,900.

From 2010 the rate has stayed around the 200k mark and then by 2015 - the last year where the records have been made public, we're back down to 177,100 - or about 55% of the 2008 peak.  <a href="http://petewargent.blogspot.com.au/2017/06/melbourne-population-growth-blows-doors">Recent statistics have the numbers back up around the 200k mark</a>.

But there is one dramatic difference between the upswing we're seeing in the past 12 months and that of the 2007/2008/2009 peak: net overseas migration is heavily concentrated in Victoria and New South Wales whereas pre and during the GFC, it was far better spread around the entire country.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/a3.jpg" rel="gallery-all" title="Net overseas migration by state - source: Pete Wargent"><img alt="" class="image-article-full-width-580px" height="342" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/a3.jpg?itok=fzRM6LUe" title="Net overseas migration by state - source: Pete Wargent" width="580"></a>

<figcaption>Net overseas migration by state - source: <a href="http://petewargent.blogspot.com.au/2017/06/melbourne-population-growth-blows-doors">Pete Wargent</a></figcaption></figure>Western Australia was punching well above its weight right up until 2012 - very much on par with the rates of growth in Victoria -  the same time considered by many as the end of the mining boom.  Queensland is in the same boat.  

The convergence between the states in the 2008-2011 period points attractiveness of migrating to many parts of the country, not just a select few.  Many of the people who did migrate would have been temporary workers who have since left, many would have stayed in the country on the PR or citizenship path.

With the downturn in the West and North, clearly Victoria and New South Wales are now these most attractive places to migrate to.

The added zinger for Victoria specifically in the past 12-24 months has been the added growth through net interstate migration - specifically from WA and QLD into Victoria.

The notion that we might be able to direct migrants into specific areas of the country is an interesting one.  How is the power to direct people to live in a specific region going to be limited?  Does this idea run against ethos of freedom of movement within Australia - one of the many things embodied in our Federation?

At the national level, the data and specifically the chart below illustrates how people from both overseas and interstate are attracted to another region by economic opportunities contained within those regions.  

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/a2.jpg" rel="gallery-all" title="Net interstate migration - source: Pete Wargent"><img alt="" class="image-article-full-width-580px" height="341" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/a2.jpg?itok=kxxwpcua" title="Net interstate migration - source: Pete Wargent" width="580"></a>

<figcaption>Net interstate migration - source: <a href="https://3.bp.blogspot.com/-rbIpCD4W0ik/WVG4Mxm7m6I/AAAAAAAAkn0/FGWbMyrA3Isoln6mvuFxFla94cLrh1TUgCLcBGAs/s1600/A2.jpg">Pete Wargent</a></figcaption></figure>Cities are at the apex of human civilisation, they're as inevitable as death and taxes.  What's also inevitable is that different cities take on different forms, and when those cities which have been built to replicate smaller country towns - the garden suburb accessible by a car - reach the point that we're at now, the answer is not to shut the gate and stop people from moving to a city, it's to make changes.

Is Melbourne full?  I suppose if you are unwilling to think about - let alone actually change - the way you live and transport yourself in Melbourne, especially in the dominant form - by car - you might think the city is 'full'.  

Whether a low or high population growth scenario plays out over the next 5, 10, 15 or even 30 years, we are dealing - and will have to for the foreseeable future deal - with the fact that <a href="http://economicdevelopment.vic.gov.au/__data/assets/pdf_file/0003/1269291/VISTA-2013-Travel-in-metropolitan-Melbourne.PDF">70+ </a><a href="http://economicdevelopment.vic.gov.au/__data/assets/pdf_file/0003/1269291/VISTA-2013-Travel-in-metropolitan-Melbourne.PDF">per cent</a> of us are either forced into or choose to use private vehicles around the city.  

Infrastructure Victoria - the independent authority set up to advise the State Government on all things infrastructure - has advised that we should be doing more with what we have.  And in the transport realm, this should translate directly into new leadership and implementation of changing on how we use existing road space to stop locking new and existing residents into the suburban &amp; exurban hell of being forced to use a car in congested middle and outer suburbs to just get to the local shops, schools or workplace.

It's all very well to have the aspiration to concentrate services and workplaces in areas closer to where people live, but when we formulate land-use policy to concentrate workplace uses in specific areas and don't provide the alternative higher-capacity public transport modes then we're back to square one.

In Victoria, we have a special knack for rapidly changing planning zones that effect development, but there is no obvious, policy target or signal to alter the status quo.

Likewise, we have a state-based renewable energy target that would see our electricity generation shift from one fuel to the other over time, but we don't have any target to reduce dependency on car use in Melbourne or other regional cities over time. This is part-time progressive activism.

In the context of Infrastructure Victoria's advice, our leadership and the next target for progressive change should be in the inner-city, middle ring our outer-fringe: policy settings should only favour road network expansion if it includes both the physical infrastructure and the high-frequency services contained within them (think dedicated bus lanes, tram network extensions).

You might have come across this or other images like it on social media.  It's a message for all - a city can feel less 'full' if we get our transport 'balance' right.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cycling_promo_fund.jpg" rel="gallery-all" title="Reduce car dependency, gain more space. Source"><img alt="" class="image-article-full-width-580px" height="307" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/cycling_promo_fund.jpg?itok=NAPTg0W0" title="Reduce car dependency, gain more space. Source" width="580"></a>

<figcaption>Reduce car dependency, gain more space. <a href="http://www.citymetric.com/politics/paralysis-parliament-means-its-time-cities-take-lead-3175">Source</a></figcaption></figure>Lead image credit: <a href="https://www.flickr.com/photos/cafuego/33397836043/in/photolist-STfD6n-RFQbRv-Ri3tfo-Qa3AVG-Wj4Ea7-VQQiEh-VACoHL-VZjHcD-W8oeUb-UXmjcD-VUyFu7-VLzBsk-RL4NdJ-SGdU9s-QXihWu-P9sXMD-U6UFQJ-NPcmFa-UkULRe-PNRxjK-PAhbHb-LyYTb3-KLNg41-PVJSNb-PqmPS8-PcHaUh-P8rAkh-P8rMf3-NU4VZ9-N9zoTf-N2J9aR-MwZ4VG-MvQo1j-LJzrgb-Ma5RS9-LfSrUy-LfSRvG-LfSBcb-Lg3rtT-Lg3aTV-LLxijw-KQpunr-LHQVGa-LEUxKL-Lht2M5-KLYkB8-KLXNbT-K2yYsL-MtkpX2-CxtUiS">flickr</a>.
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Alastair Taylor

Is Melbourne full?

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This is the eighth consecutive month where the Index has printed below 100 indicating that pessimists continue to outnumber optimists.
The Index is not sending encouraging signals about the outlook for consumer spending.
Having said that, developments around interest rates during the month could have been much more damaging for confidence than turned out to be the case.
Banks increased rates on ‘interest only’ mortgages while there was considerable media speculation about prospects for rising rates overall.
In the event confidence amongst respondents with mortgages actually rose by 4.8%.
However, the interest rate increases may have contributed to softer reads in some sub-groups with higher exposure to investor housing – sentiment down about 10% in the month for those aged over 55.
The key components of the Index gauging respondents’ assessments of their own financial position were mixed.
The component measuring assessments for family finances relative to a year ago lifted slightly by 1.2% while the component tracking assessments of the outlook for finances over the next 12 months fell by 4.2%.
<a href="https://www.propertyobserver.com.au/images/2017/07/12/Screen%20Shot%202017-07-12%20at%2010.48.43%20am.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/2017/07/12/Screen%20Shot%202017-07-12%20at%2010.48.43%20am.jpg" alt="">
Overall however both of these components are down significantly over the year by around 4%. While-ever respondents remain concerned about their own finances prospects for a marked lift in spending patterns will remain remote.
On the other hand there was an improvement in how respondents assess conditions in the labour market.
The Westpac Melbourne Institute Index of Unemployment Expectations fell by 3.1% (a lower number indicates that fewer consumers expect unemployment to rise) but really only recouped the increase we saw in the last month.
Over the last year this Index has remained fairly steady despite the encouraging developments in the stunning employment reports which indicate that 141,000 jobs were added in the three months to May.
Other components of the Index were also mixed.
The ‘economic conditions over the next 12 months’ sub-index increased by 1.8% while the ‘economic conditions over the next five years’ sub- index fell by 1.5%.
Over the last year, 12 month prospects have increased by a modest 1.1% while 5 year prospects have fallen by 8%.
The ‘time to buy a major household item’ sub-index improved by 4.2% to be up 1.0% over the year.
Conditions in the housing market appear to be stabilising, at least for the time being. The ‘time to buy a dwelling’ index lifted by 3.1% in the month – the first significant increase we have seen for this year.
Recall that in the first half of 2017 this indicator fell consistently by just over 10%.
<a href="https://www.propertyobserver.com.au/images/2017/07/12/Screen%20Shot%202017-07-12%20at%2010.48.56%20am.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/2017/07/12/Screen%20Shot%202017-07-12%20at%2010.48.56%20am.jpg" alt="">
Recent increases in state government assistance for first home buyers appears to have been a big factor in the July rise with the ‘time to buy a dwelling’ sub-index for 25–34 year olds surging 36% in the month.
The outlook for house prices also partially reversed the recent deterioration.
The Westpac Melbourne Institute Index of House Price Expectations increased by 8.6% following the cumulative 11.8% fall we saw in the previous two months.
With banks raising some mortgage rates and overall confidence soft it is too early to call a recovery in confidence in the housing market.
The Reserve Bank Board next meets on August 1.
Rates will remain on hold.
We continue to predict that the Reserve Bank cash rate will remain on hold throughout the remainder of 2017.
A cautious consumer; a slowing housing market; and a weakening in the labour market with limited prospects of any boost to wages growth all point to another year of steady policy.
Bill Evans is the chief economist at <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Consumer sentiment remains soft: Bill Evans

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Country Garden Australia, the Australian arm of Hong Kong-listed Country Garden Holdings Co Ltd, has announced its first Victorian development project in Wyndham Vale.
The 353-hectare project, located about 36 km south-west of Melbourne, will comprise more than 4,000 homes on completion.
CGA managing director Guotao Hu said the strategic acquisition represented the company’s long-term commitment to the Australian market.
“We are excited at the prospect of delivering our first major greenfield community in Australia and we remain committed to developing high-quality housing for all Australians,” Hu said.
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Established in 1992, the parent company has a market capitalisation of nearly $30 billion and has built homes for over three million people across 400 cities globally.
The company entered the Australian market in 2014 and is currently delivering a major residential mixed-use community, Ryde Garden (pictured above), 15 kilometres north west of the Sydney CBD that consists of 830 apartments.
Last year, it acquired a 10-house site amalgamation in St Leonards South for about $45 million under a put and call option.
 
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Country Garden Australia acquires 4000-home project in Melbourne's Wyndham Vale  

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A double-fronted Victorian in original condition in Melbourne’s Yarraville has sold at auction for $1.81 million, well above the expected range of $1.4-1.5 million.
The house at <a href="https://www.realestate.com.au/sold/property-house-vic-yarraville-125568406" target="_blank">9 Fairlie Street</a> was described as “a classic case of being probably the worst house on one of the better streets”.
The four-bedder sits on a large area of 760 sqm and was assessed by property agency National Property Buyers at $1,650,000 - $1,700,000, it said in a newsletter.
The selling agents were Leigh Melbourne and Wayne Elly of Greg Hocking Elly Partners.
<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/2017/07/11/Yarraville2.jpg" alt="">
The description says that the un-renovated house is  “ready to be rescued and re-invented”, implying there is scope for refurbishment or redevelopment.
It comprises four bedrooms arranged around a central living room, a kitchen/meals area and bathroom. 
To the rear, the garden offers possible redevelopment scope subject to council approval.
It is close to Seddon station, Yarraville Gardens, village cafes and the city. 
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Yarraville Victorian house achieves standout result at auction

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The former Hugo Boss managing director Aaron Kanat has sold his luxury Curlewis home on the Bellarine Peninsula.
The architecturally designed waterfront outside of Melbourne on Corio Bay will be the <a href="https://www.realestate.com.au/property-house-vic-curlewis-124392942" target="_blank">second most expensive sale in the area</a> after it sold for between $5.5 million and $6 million.
It had initial $6 million to $6.5 million hopes through RT Edgar Point Lonsdale agents Felix Hakins and Jeremy Fox.
A couple from Melbourne bought the two hectare property with tennis court and self-contained guest accomodation.
It has views across the bay back to Melbourne.
The block that has direct access to a north-facing beach cost $1.75 million in 2006. 
This article first appeared in The Weekend Australian Mansion Australia section.
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Former Hugo Boss managing director sells Bellarine Peninsula trophy

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Over the past 30 years, ‘The Hills’ has transformed from a mostly rural area to a part of suburban Sydney.
The area is characterised by new residential development, access to amenities and plenty of green space.
The Government is supporting the area’s evolution.
According to Savills Spotlight Research Report – ‘Residential Property in The Hills’ the area is set to benefit from improved transport links and parts of the area overlap with priority growth area of North West Sydney, one of the locations the government have identified to provide new homes and jobs for Sydney’s growing population.
For the purpose of this report, the Hills area is defined as the following suburbs: Baulkham Hills, Beaumont Hills, Bella Vista, Castle Hill, Glenwood, Kellyville, Kellyville Ridge, Kings Langley, Parklea, Rouse Hill, Stanhope Gardens and The Ponds.
According to Sophie Chick, Head of Residential Research at Savills and author of the Spotlight report, traditionally The Hills’ residential development has been focused on large residential subdivisions and low density housing.
“Across the area, just 17 percent of the dwellings are medium or high density compared to 40 percent across Greater Sydney.
"This varies by suburb, in Baulkham Hills and Castle Hill, neighbouring the Norwest Business Park, a quarter of the residential stock is units compared to Beaumont Hills and The Ponds where there are next to none.
“However, the forecast improvement in transport infrastructure, particularly the Sydney Metro Northwest, has led to an increasing number of apartment and townhouse developments, particularly around existing and forecast railway stations.
“Across the area just 38 percent of the development approvals from the start of financial year 2015 to December 2016 were for houses while the rest are ‘other’, which are primarily apartments or semi-detached dwellings” she continued.
As well as the improving access a number of employment centres throughout Sydney, The Hills is also home to a number of growing employment hubs including the Norwest Business Park, Castle Hill Town Centre and Rouse Hill Town Centre.
Norwest Business Park has already grown to accommodate over 20,000 employees with expansion expected to increase to over 35,000 employees.
Ms Chick said house prices across The Hills have experienced strong growth over the past 10 years, increasing by 119 percent, outperforming the average growth seen across Sydney as a whole.
“More recently, the double-digit growth has continued with values rising 11 percent over the year to April 2017.
“The median value across The Hills in April 2017 was $1.21 million, slightly higher than the Sydney average of $1.15 million but offering a substantial discount when compared to central Sydney, the inner west and the north western suburbs”.
The Hills has one of the fasting growing populations of area in Sydney. From 2011 to 2016, estimates show the population across The Hills local government area has increased 12 percent.
This has significantly added to the demand for real estate in the area, equating to 3,520 new residents per year.
Ms Chick said The Hills area has already experienced higher population growth than many other areas in Sydney and this is set to continue.
“Over the next 20 years, the Hills local government area population is forecast to increase by 76 percent to 291,000 people compared to a 37 percent increase across Greater Sydney.
"This equates to an additional 6,300 people per year and is likely to contribute to the already high demand for residential property in the area.
“The population growth is being driven by a combination of residential development activity, infrastructure improvements and new employment opportunities.
"These factors are anticipated to improve the quality of life for existing residents and make the area accessible to a wider demographic of people” she said.
For more information go to Savills' home <a href="https://www.propertyobserver.com.au/savills.com.au" target="_blank">page</a>
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Savills shines the spotlight on The Hills area

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Melbourne's apartment market is showing signs of maturing, with more new sales occurring outside the CBD than in the city centre.
It was for the first time, the latest figures from consultancy Urbis show.
As many as 267 unit sales, or 58 per cent of the March quarter's total, were in the middle ring of the Victorian capital.
Within the city's inner ring most sales were outside the central precinct, Urbis's Melbourne Apartment Essentials Q1 2017 report calculated.
One-bedroom, one-bathroom, one-car product accounted for 18% of total sales.
The advisory noted Victoria has undershot NSW in the number of new apartments over the past decade.
The southern state approved 227,500 new units over the decade to April while north of the border the equivalent figure was 255,150.
Melbourne's apartment boom has been more concentrated in the city centre while Sydney's growth has always been more dispersed across the metropolitan area.
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbActiveSupply.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/10/MelbActiveSupply.png" alt="">
Uris suggest the picture in Melbourne is changing.
"Apartment living is no longer just for CBD dwellers," said Urbis director of property economics and research Mark Dawson.
"Moonee Ponds, Heidelberg and Footscray are all markets that we have seen emerge over the past few years."
Mr Dawson expects project launches, and sales volumes, to drop back as the market continues to self-regulate.
“We expect to see fewer project launches which will ensure the market maintains a healthy balance of supply and demand.”
“Of the projects we monitor, 82% of stock has been sold.
"At this stage of the market it is not about a large reduction in sales or drop in price, but a change in the type of sales we are seeing and where apartments are selling.”  
The apartment spread is changing within inner-city Melbourne as well. Sales in suburbs, such as Carlton in the inner north, exceeded those in the city's centre for the first time, the report also shows.
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbQtrPrice.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/10/MelbQtrPrice.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbSales.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/10/MelbSales.png" alt="">
"Precincts like the inner north, which captured 43 per cent of total inner Melbourne sales, are well set up for apartment living," Dawson said. "They provide residents with easy access to transport and neighbourhood character, as well as an affordable entry-point to the market."
Melbourne apartment sales are down, Urbis said.
Four new projects launched during the quarter, for a total 1471 units, while a year earlier 2878 units were launched across 14 projects.
The average weighted sales price of apartments in the March quarter gained $44,476 from December to $706,391, boosted by an increase in the proportion of two-bedroom, two-bathroom apartments. This reflected a growing demand by owner-occupiers compared with investors, Mr Dawson said.
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