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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Two important stories which traverse both transport and housing topic areas were highlighted on Apartments.com.au this week.

The news that the medium and high-density components of <a href="/news/targets-williams-landing-hq-a-boon-for-the-wests-commercial-prospects">Williams Landing will ramp up</a> highlight what some might gloss over but what I think is the correct 'order' of doing things: the rail station is built first, developers then piggyback off the new infrastructure second.

Likewise, this morning's report on <a href="/news/xo-projects-first-database-entry-makes-for-a-sleek-alphington-addition">XO Project's first foray into the UM database</a> is a good example of how the apartment market in Melbourne more broadly is maturing.

<h2>Alphington</h2>

Putting aside price per square metre and whether this (or any) development has a certain percentage of units targeted for affordable housing (at or below market prices for purchasers or units made available for affordable housing associations); putting aside whether the building is "too tall"; putting aside whether the apartments are the "right" internal square metre size - basically putting aside all the standard arguments which have multiple proponents and opponents across academia, the industry, government and the community at large - let's devote our attention to this one aspect for a moment.

It's this one line in Mark's <a href="/news/xo-projects-first-database-entry-makes-for-a-sleek-alphington-addition">article</a>: 

<ul>
<li>109 apartments: 31 x one-bedroom, 56 x two-bedroom, 22 x three-bedroom</li>
</ul>
One project out of 1400 on our database doesn't make a trend, yet this is what I'd call a balanced configuration.  One that should be highlighted given the current set of planning regulations and real estate dynamics that define our current market.

(Apologies for going all Kevin '07), there's merit in calling affordability and housing equity issues the great moral, city-building, challenge of our time, but just for a moment let's pause and celebrate the fact that developers are confident enough to take a development to market that for all intents and purposes will smash the stereotype pedalled by some that apartments are just for singles, couples or investors.

In the arbitrary world of measuring the size of a development by height or number of floors (which I freely admit does the planning world &amp; profession a disservice), I like to call the residential growth zone the Goldilocks Zone: not too small and not too big - the 'just right' size of [potential] development that's not going to send too many members of the community out into the streets with pitchforks. It's the 'just right' compromise that is easily understood.

Despite this development's size not fitting within Goldilocks Zone parameters (it's 9 levels as opposed to the Goldilocks Zone standard of 4 levels), I'm hereby dubbing this and all future projects like it to be a Goldilocks Development.  This is based purely on the diversity of unit configurations available off plan.

A sizeable chunk at the larger end that could conceivably be considered family-friendly and the bulk of the units in the mid-sized configuration.  

If more and more projects currently on the drawing board or those that will be proposed in the future have a similar level of 'off plan' diversity then Melbourne's apartment market will have said goodbye to its formative teenage years and made that first step into adulthood.  

There's a long way to get there, however confirmation that the city's apartment market has moved well and truly into adulthood will happen when we get policy and planning settings right on affordability and when the city's citizens don't feel the need to automatically look to the fringe to start a family.

<h2>Williams Landing</h2>

In Williams Landing we have a small scale but clear cut example of doing things in the right order.  Williams Landing station was opened in April 2013 and thereafter the medium and high-density components kicked off with both the Newton and Oxford apartment buildings entering their registration and sales phases in 2015 and 2016.

Now we have a new catalyst, a commercial building with a well-known brand to have its head office housed there.

In the world of gazing into the crystal ball on how to expand and ultimately augment Melbourne's rail network, talk on how the land surrounding the rail network inevitably gets discussed.  What's now happening in Williams Landing stands as a great example of can happen when we get the order of development right.

Unfortunately for Geelong, its loss is Melbourne's gain with Target moving its head office right next to the Williams Landing station.  

While I have and will continue to applaud businesses who employ large numbers of people under one roof and then choose to locate themselves next to the transport mode which will have the most dramatic impact on lessening our insidious car culture, the way the rail network now operates will make it hard for those who would presumably like to remain living in Geelong but follow their job to Williams Landing.

Geelong trains now run around the back of Werribee and there is a bus that links Tarneit - where some Geelong trains stop - and Williams Landing station, however the frequency of service leaves little to be desired.  That said, rail and bus frequencies can (and do) increase over time; however what's the bet that joining the hordes of people on the Princes FWY will be the favoured journey to work from Geelong?

Spring Street has already signalled that it intends to hold back the more intensive redevelopment of the Arden precinct until the new metro station opens - it gets to dictate these terms directly in this case as the state government is a major landholder in the area.  In my view, again, this is the correct order of doing things however what of Fishermans Bend?

Despite its purchase of the former GMH site, the state government is not in the same position as Arden when it comes to south of the Yarra - already developments have kicked off in the eastern end around Montague and in this early stage the 109 tram might be able to cope with a small increase in residents and workers, over the medium to long-term it'll be - excusez mon français - a shit fight.

The cat's out of the bag and Melbourne can't do a Williams Landing on a much larger scale in Fishermans Bend, however that doesn't mean the state government shouldn't reprioritise and play catch up so that proper transport for the precinct is provided in the earlier, rather than later stages of this multi-decade redevelopment zone.

A final framework for Fishermans Bend without a clear picture of how heavy rail will work (and perhaps more importantly when it will begin operations) will mean it's dead on arrival.
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Alastair Taylor

Reflections on doing it right: Alphington, Williams Landing and Fishermans Bend

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Sydney-based developer Poly Australia is taking cheaper apartments under $800,000 off the market to offer them to first-home buyers as it expects a rush of foreign investors to snap up apartments before July 1 tax increases.
The developer has earmarked 23 cheaper apartments at its project in Poly Horizon in Sydney’s Epping for first-home buyers when they are re-released in July, according to The Australian Financial Review.
The NSW government recently decided to scrap stamp duty for properties up to $650,000 in a move to improve housing affordability.
The policy, which will apply to new and existing homes, will start from July 1. Homes up to $800,000 will also see a discounted stamp duty.
At the same time, foreign investors are facing the heat with the state government deciding to double its stamp duty surcharge to 8 percent and increase the annual land tax surcharge on foreign home owners to 2 percent from the existing 0.75 percent.
The new rules could, however, see foreign buyers rushing to buy apartments before the policies take effect, Poly said.
"We believe we will see a rush of foreign buyers securing property in the Sydney market in the next month as a result of the increase in stamp duty fees," Poly Australia sales and marketing director Jay Carter was quoted as saying by the AFR.
"Our objective is to ensure that first home buyers don't miss out because of this influx. We want to give first home buyers every opportunity to take advantage of the new stamp duty discounts."
Poly Horizon will be the largest development in Epping, consisting of 501 apartments across three towers with prices starting from $437,000 for an executive apartment.  
It recorded the sale of more than 80 percent apartments in its first release last year.
Stockland also supported the government's moves to improve affordability.
"Housing affordability is a critical issue in Sydney and Stockland welcomes the NSW government's comprehensive plan to address this challenge by unlocking supply, increasing stamp duty concessions for first homebuyers, and investing in vital local infrastructure," Stockland residential chief executive Andrew Whitson said.
Stockland launched its own affordability initiative in April, prioritising 50 percent of land releases and townhomes to first home buyers at its three major masterplanned communities in Sydney.
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jonathanchancellor-7SQnKwU6yx

Developer Poly saves cheaper apartments for first home buyers at its Epping project

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Sydney set a new record for June house auctions with 789 home going under the hammer over the weekend, according to Domain's Andrew Wilson.
Sydney holds a preliminary auction clearance rate 74.3 percent from the weekend listings.
Domain's Andrew Wilson said the hot winter weekend significantly surpassed the previous record set of 670 on set on June 20 2015.
"The previous weekend’s clearance rate was 75.9 percent, and over the same weekend last year it was 80.1 percent," he said.
"It was the third consecutive decline in weekend results with the local market now tracking well below the 79.3 percent average weekend rate recorded over the autumn selling season. 
"Sydney recorded an overall auction clearance rate of 71.6 percent in May which was lower than the 73.3 percent recorded over April but higher than the 69.4 percent reported over May last year.
"Auction listings averaged 858 each weekend over May which was well ahead of the 709 recorded over April and the 637 listed over May last year.
"The May listings result was also a record for that month.
"It’s only the first weekend of the month and already the record has been broken for the most auctions listed and the most properties sold in June.  
"The Melbourne market continues to be deluged by a flood of auction listings with 1045 homes going under the hammer on Saturday – well ahead of the previous record of 955 set on June 18, 2016.
<div class="in-content-ad">"The city recorded a clearance rate of 75.9 percent at the weekend, which was lower than the 76.6 percent the previous weekend but higher than the 74.4 percent recorded over the same weekend last year.</div>
"Saturday’s clearance rate was the second consecutive year low result, with the local market now tracking well below the 79.5 percent average weekend rate recorded over the autumn selling season. 
"Melbourne recorded an overall auction clearance rate of 75.1 percent in May, compared with 75.9 percent recorded in April and 70.3 percent reported in May last year.
"Auction listings averaged 974 each weekend over May, which was well ahead of the 768 recorded in April and the 862 listed in May last year.
"The May listings result was also a record for that month. Over the first five months of this year 14,987 homes have been listed for auction in Melbourne, which is an increase of 14.3 percent on the same period last year."
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Bumper Saturday for Melbourne, Sydney residential auctions

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A two bedroom timber Woodridge house has been sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a>, the 875 sqm parcel of land has been stated to be an "exciting opportunity" for a savvy buyer or builder.
It was last sold in 1986 for $39,000.
The median price of a house in Woodridge is $293,000 while a unit has a median price of $199,000.
It was marketed as having the opportunity to build brand new home or splitting the block to build two homes.
It has a south-east facing aspect with minimal gardens.
There is also a large shed out the back.
The property was offered through LJ Hooker Peter Florentzos.
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j.ballantyne1990-6AQqhLzZaK

Brisbane's cheapest home - a two bedroom timber Woodridge house sold for $241,000

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The Lake Macquarie Trinity Point residential development received two awards at the weekend Asia Pacific Property Awards 2017-2018.
The project won awards in two categories - leisure architecture and hotel architecture.
This year's award was the largest in its history, with over 820 entries across all categories.
Trinity Point was designed by Architects Squillace, who have a reputation for delivering exceptional resort style facilities and five star hotels.
"We are thrilled Trinity Point is being acknowledged for its vision and we continue to focus on delivering world class luxury living on Lake Macquarie," Trinity Point chief executive officer Keith Johnson said.
The former Miss Universe Jennifer Hawkins is the face of the $388 million Trinity Point marina project at Lake Macquarie, which is accessed via the M1 Morriset motorway turnoff.
The project was first announced in 2006 for the site formerly known as the St John of God holding.
The NSW government approved a concept plan five years ago for the 23 hectare site which is around an hour and a half from Sydney and 30 minutes from Newcastle.
Johnson eventually plans around 190 residential properties, 250 luxury tourist apartments and a boutique hotel. 
The community comprises a mix of five-star resort, hospitality, retail, residential and marina components.
Johnson hopes the project will offer a combination of the vibrancy of Noosa or Port Douglas, along with the prestige and grandness of the Fairmont Banff Springs in Canada.
A foreshore boardwalk will trace the shores of Barden’s Bay, opening up the water’s edge to the public and a state-of-the-art function centre that will accommodate weddings.
Former Australian cricket captain Michael Clarke has bought into the new development.
<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/2015/11/23/clarke.jpg" alt="" width="567" height="344">
Caption: Johnson Property Group Managing Director, Keith Johnson and former Australian cricket captain Michael Clarke
He bought a three storey, four bedroom terrace off the plan. It cost $1,388,888.
"Trinity Point is going to become an absolute Sydney weekend hotspot – another Palm Beach or daytrip destination but with more of a marina-lifestyle resort focus,” he said.
For more information, <a href="https://bit.ly/2p1WfOE" target="_blank">click here</a>. 
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Lake Macquarie's Trinity Point already winning awards

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A residential Potts Point car parking space, in inner Sydney, fetched $222,000 at weekend auction, which the Di Jones selling agent declared “top dollar”.
Bidding opened at $120,000 for <a href="https://www.domain.com.au/101-45-53-macleay-street-potts-point-nsw-2011-2013605721" target="_blank">the 16 square metre undercover space</a> (above) in The Chimes apartment block.
There were two of the five registered parties still bidding from $180,000 onwards.
Another standard car space had sold nearby earlier this year at $190,000 with a larger 26 sq m car space fetching $264,000 two years ago.
The successful bidder has resided in Potts Point for two decades and intended the car spot for his personal use, The Sunday Telegraph reported.
The 10-storey, 80 unit Macleay Street strata studio block was built in the mid 1960s when the standard EJ Holden cost the equivalent of $2000.
The car space was among the first week of winter offerings, but not the cheapest. 
A three bedroom house at Smithfield - offered as a renovator's dream - sold for $142,500 as Adelaide’s and the nation's cheapest weekend auction sale.
Built in 1980 it last sold in 1995 for $56,000.
Featuring three bedrooms, the property at <a href="https://www.realestate.com.au/property-house-sa-smithfield-125500850" target="_blank">19 Adaluna Crescent</a> had $110,000 price guidance.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.29.18%20AM.png" alt="">
The onset of winter saw auction volumes fall across the country.
Some 2,545 homes were taken to auction, compared to 2,885 the previous weekend, according to CoreLogic’s latest report.
The property data firm says that the preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent).
With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week, CoreLogic auction analyst Kevin Brogan said.
Every city had a higher clearance rate than the same weekend last June.
At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent.
Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.
Across Melbourne, 1,181 homes were taken to auction and preliminary results show a clearance rate of 75.4 per cent, increasing from last weekend when the final clearance rate fell to 74.2 per cent across 1,366 auctions, the lowest clearance rate for the city so far this year.
At the same time last year, Melbourne’s clearance rate was 71.1 per cent, with 970 auctions held across the city.
Looking at Melbourne’s sub-regions, the West region was the best performer in terms of clearance rates, with a 83.5 per cent success rate.
The top weekend sale was a 1970s Hawthorn house for $5.51 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-hawthorn-125400526">17 Fairview Street</a>, (below) the 760 sqm property marketed as suitable to be redeveloped was snapped up by a Chinese buyer who will demolish the five bedroom brick home, Fairfax Media reported. 
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.30.27%20AM.png" alt="">
With views overlooking Fairview Park, Yarra River and CBD, it was last sold in 2007 for $2.8 million.
There was a record price paid in Fitzroy when a couple from Boroondara with three young children secured Fitzroy House at <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125390094">43 Gore Street </a>with a $4.9 million bid.
It at almost $900,000 more than the suburb’s previous record of $4.011 million set by 17 Bell Street last year.
It was sold by Madman Entertainment co-founder Paul Wiegard and his wife Sarah, who spent about $2 million renovating the three-level 1854 house, which cost $2.1 million in 2008.
It was built for surgeon Thomas Embling.
Sydney’s preliminary auction clearance rate increased to 77.5 per cent from 72.7 per cent last week, while auction volumes were lower this week with 1,000 homes taken to auction, compared to 1,101 last week.
At the same time last year, both the clearance rate and auction volumes were lower with 692 homes taken to auction and a clearance rate of 72.9 per cent.
Sydney's top sale was an art deco Russell Lea house sold for $5.15 million with six bidders registering at the auction.
Located at <a href="https://www.realestate.com.au/property-house-nsw-russell+lea-125413062" target="_blank">26 Clements Street</a>, the P&amp;O style residence sits on a double block that overlooks Iron Cove Bay.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.32.12%20AM.png" alt="">
Designed in 1939 by Guy Crick, it was marketed as having potential to renovate or develop through Warwick Williams Real Estate agents Adrian Sereni and Warwick Williams.
There were 146 auctions held across Brisbane this week, down from 162 last week, but higher than one year ago (130).
Preliminary results show that 51 per cent of Brisbane auctions were successful this week, up from 52.2 per cent last week, while one year ago 48.2 per cent of auctions were sold.
A two bedroom timber Woodridge house sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a> (below), the 875 sqm parcel holding last sold in 1986 for $39,000.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.33.32%20AM.png" alt="">
A total of 107 auctions were held in Adelaide this weekend, down from 112 last week, and up from 98 last year.
Preliminary Adelaide results for the weekend show 63.4 per cent sold, up from 57.6 per cent last week. 
An Aldinga Beach beachfront reserve house sold for $1.45 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-125424530" target="_blank">210 Esplanade</a>, the 1800 sqm property is just steps away from the beach, 50km from Adelaide CBD, and a short drive to McLaren Vale.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.34.32%20AM.png" alt="">
Modernised since built in 1965, it was last sold in 2009 for $1.175 million and in 2002 for $680,000.
Across Perth, preliminary results show 58.3 per cent of the 12 reported auctions were successful, while one week ago 50 per cent of Perth auctions were successful and one year ago just 13 per cent were sold.
There were 78 auctions held in Canberra this week and the preliminary clearance rate was 71.9 per cent, down from 73.8 per cent last week and similar to one year ago (71.1 per cent).
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Potts Point parking space amongst weekend auction highlights

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The first week of winter saw auction volumes fall, with 2,545 homes taken to auction, compared to 2,885 the previous week, according to CoreLogic’s latest report.
The property data firm says that the preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent).
With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week, CoreLogic auction analyst Kevin Brogan said.
<a href="https://www.propertyobserver.com.au/images/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.09.58%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/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.09.58%20am.jpg" alt="">
At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.05%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/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.05%20am.jpg" alt="">
Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.
Across Melbourne, 1,181 homes were taken to auction and preliminary results show a clearance rate of 75.4 per cent, increasing from last week when the final clearance rate fell to 74.2 per cent across 1,366 auctions, the lowest clearance rate for the city so far this year.
<a href="https://www.propertyobserver.com.au/images/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.14%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/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.14%20am.jpg" alt="">
At the same time last year, Melbourne’s clearance rate was 71.1 per cent, with 970 auctions held across the city.
Looking at Melbourne’s sub-regions, the Inner region was the busiest for auctions across Melbourne with 227 homes going under the hammer, followed by the Inner South (180) and the West (156).
The West region was the best performer in terms of clearance rates, with a 83.5 per cent success rate.
Sydney’s preliminary auction clearance rate increased to 77.5 per cent from 72.7 per cent last week, while auction volumes were lower this week with 1,000 homes taken to auction, compared to 1,101 last week.
At the same time last year, both the clearance rate and auction volumes were lower with 692 homes taken to auction and a clearance rate of 72.9 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.21%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/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.21%20am.jpg" alt="">
Across Sydney’s sub-regions, the Outer South West, where 13 results have been reported so far, recorded a preliminary clearance rate of 38.5 per cent, while across Blacktown (89.5 per cent), Inner West (88.5 per cent) and Sutherland (88.4 per cent), the success rate of reported auctions was much higher.
There were 146 auctions held across Brisbane this week, down from 162 last week, and higher than one year ago (130).
Preliminary results for the city show that 51.0 per cent of auctions were successful this week, up from 52.2 per cent last week, while one year ago 48.2 per cent of auctions were sold.
<a href="https://www.propertyobserver.com.au/images/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.32%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/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.32%20am.jpg" alt="">
Further south, across the Gold Coast, 56 auctions were held over the week and 37 have been reported so far with a 32.4 per cent clearance rate.
A total of 107 auctions were held in Adelaide this week, down from 112 last week, and up from 98 last year.
<a href="https://www.propertyobserver.com.au/images/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.39%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/2017/06/04/Screen%20Shot%202017-06-04%20at%2011.10.39%20am.jpg" alt="">
Preliminary results for the week show 63.4 per cent sold, up from 57.6 per cent last week.
Across Perth, preliminary results show 58.3 per cent of the 12 reported auctions were successful, while one week ago 50.0 per cent of Perth auctions were successful and one year ago just 13.0 per cent were sold.
There were 78 auctions held in Canberra this week and the preliminary clearance rate was 71.9 per cent, down from 73.8 per cent last week and similar to one year ago (71.1 per cent).
A total of 4 auctions were held in Tasmania this week and so far there have been no reported results.
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Early winter clearance rate holds above 70% as auction volume slips lower: CoreLogic

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Harry Triguboff’s Meriton group has launched the first stage of its Sydney Olympic Park residential development The Retreat.
The development will feature more than 1200 apartments.
The Retreat is being built on a 5.17 hectare site at 5 Carter Street bought from the Goodman Group for $245 million two years ago.
The first stage will have two elliptical buildings. The North tower will be 22-storeys high and feature split-level loft-style designs, apartments with rooftop entertaining and barbecue areas and penthouses with four bedrooms and two bathrooms.
Harry Triguboff said The Retreat, being developed opposite the ANZ Stadium, is all about green open space, recreation and leisure.
“The Sydney Olympic Park precinct is a very exciting area and we are offering you an opportunity to purchase in the first release before we develop all four stages," he said.
“We have made sure at The Retreat that we provide residents with apartments, resort facilities, shops, a 113-place child-care centre and serviced apartments that complement and add to those attributes.
“We expect to finish the site in the next five years and once completed, we believe prices will rise considerably.
“The Sydney Olympic Park precinct is an idyllic choice for anyone wanting to escape the fast pace of life and more congested living of the city’s heart.”
James Sialepis, Meriton’s director sales, said The Retreat would be ‘in tune’ with the green atmosphere of the Sydney Olympic Park area and a perfect choice for new home buyers.
“The Retreat will have an extensively turfed 2500 square metre central park, with walking and cycling pathways," he said.
“On the third floor of stage one there will be podium gardens where residents will be able to barbecue, dine under cover, or just soak up the views.
“We’ve almost been caught off guard by the demand we’re experiencing for our projects with landscaped gardens and parklands, especially from families and first home buyers, in areas like Lewisham and Sydney Olympic Park.
“The Retreat will be the same and first home buyers will be chasing the great launch prices, with many apartments under $750,000.”
Sialepis said the first stage of The Retreat architects, the SJB group, had designed buildings with glass-faced apartments that capitalised on views across Bicentennial Park and the Parramatta River to the Sydney CBD and the harbour bridge.
Stage one of The Retreat has 149 apartments, some of them the biggest in the area, and they range from one-bedroom through to four-bedroom penthouses with rooftop terraces.
The apartments will start at $585,000 and peak at $2,800,000 for one of the split-level penthouses.
Stage one is expected to be completed by March 2019.
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mick.cee-iDmgDDAmu8

Meriton launches Olympic-standard lifestyle haven

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An apartment in the new Circular Quay development Loftus Lane has sold for $17 million.
Despite the apartments not officially launching until tomorrow, one locally well-heeled buyer has snuck in to pay around $57,000 per sqm for the 296 sqm apartment offering.
It falls short of the $96,400 per sqm paid for the $27 million record breaking apartment sale in the Opera Residences last year.
That was reputedly bought by businessman and philanthropist Robert Salteri and his wife Kelly.
The Loftus Lane two storey unit on level 12 of the low-rise building has three bedrooms and sits in one of the three residential buildings developed by AMP Capital.
Completion of the buildings is slated for 2021 as part of the AMP Capital developed project to upgrade Circular Quay.
Some potential buyers have been underwhelmed by Loftus Lane, which comprises 106 apartments in three low-rise buildings.
 
 
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jrobinson-rf4aSBido9

Loftus Lane apartment sells for $17 million

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Canberra house prices have grown significantly over the past 12 months, according to Herron Todd White’s recent report.
The property valuation firm says that this could be due to both limited supply of houses and low interest rates.
“Like most capital cities in Australia, Canberra has seen a significant growth in house sale prices over the past 12 months," the report said.
"This is partly due to low interest rates and a limited supply of houses coming onto the market.
"It is expected this trend will continue as properties in established suburbs remain tightly held and highly sought after.
"Currently houses are providing much stronger capital gains than apartments.
"This is probably due to an oversupply of apartments in the Canberra market and a number of apartment developments beginning construction.
"These low capital gains look set to continue as new apartment developments are beginning construction in the CBD, Molonglo Valley, Woden and Gungahlin."
The report noted low interest rates seem to be contributing to the strong housing market.
"An increase in interest rates may see some property owners being stretched financially which could result in them being forced to sell.
"If several of these sales are introduced onto the market it may reduce prices and could represent good buying opportunities.
"Alternatively an interest rate rise may force more buyers out of the market which could reduce demand,” the report stated.
Detached housing are also increasing in the area Herron Todd White commented.
“Detached houses in established suburbs have been performing very well throughout the ACT recently due to a perception of low supply and high demand.
"This trend may slow over the next six to twelve months due to new dwellings built on Mr Fluffy reclaimed blocks coming onto the market.
"A change in planning regulations allows multiple dwellings to be built on what were previously only single dwelling blocks.
"This would result in an increase in the number of dwellings in the sought after established suburbs of Canberra and may slow the strong capital growth seen lately,” the report advised.
Herron Todd White stated that other factors for the price growth includes stamp duty and similar changes.
“Another factor likely to change the direction of the property market would be changes to legislation.
"Recently we have seen the stamp duty costs being abolished for properties under $600,000 in Victoria for first home buyers.
"There hasn’t been any talk of similar legislation being implemented in the ACT but if it were it would incentivise first home buyers to enter the market.
"This could affect the market in different ways. It may help balance the apartment market by providing more demand for an over supplied market.
"However in the housing market it would increase demand for what seems to be an under supplied market therefore increasing prices further,” the report commented.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-kingston-125277642" target="_blank">15 Cunningham Street</a>, Kingston (above) was recently sold for $1.25 million.
Similarly a two bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-act-turner-125274570" target="_blank">401/155 Northbourne Avenue</a>, Turner (below) was recently sold for $770,000.
<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/2017/05/16/401_155%20Northborune%20Avenue.jpg" alt="">
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