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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
Sydney’s most affordable house to sell at auction was in Long Jetty on the Central Coast, 100 km north of the CBD, for $385,000.
Figures released by APM noted that the 1960s-built three-bedroom house at 50 Stella Street sold through LJ Hooker The Entrance.
The large, level site of 676 square metres is a short stroll to the beach and other local amenities. According to RP Data, it last traded in 1990 for $90,000. 
Figures on the database shows the median house price for Long Jetty in August was $473,000, which is up on the same time last year when it was $420,000.
Capital growth was more than 8% in 2013 for the area while the median rent was $380 a week. This would reflect a yield of more than 5% for an investor. 
A house on a sub-divided block of 338 square metres at 71/17A Stella Street exchanged earlier this year for $410,000.
The record price for the street is $565,000, which was paid last year for a three-bedroom house on 613 square metres at 115 Stella Street.
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andreadixon-oif3j7eKne

Long Jetty secures NSW cheapest auction result

<html><body>
Sydney’s most expensive property to sell at auction this weekend was in Strathfield, 14 km from the CBD, for $3,005,000. 
According to APM, the newly constructed five-bedroom, four bathrooms house at <a href="https://www.raywhite.com/nsw/strathfield/1192007/" target="_blank">65 Barker Street</a> sold through Ray White Burwood. 
The vendor YK Global Developments bought a red brick knock down on 699 square metres in June last year for $1.310 million and created the new home.
According to figures on RP Data, the record price paid for a house in Strathfield is $6.8 million in a deal that transpired at the start of this year.
The top price for a Barker Road house was recorded last year when another new residence sold for $3.185 million.
The median house price for Strathfield in August this year was $1.937m, a significant rise the median price for August 2013, which was at $1.285 million.
Sydney’s record-breaking early spring home auction market weakened at the weekend reporting its lowest clearance rate for two months, according to Australian Property Monitors.
The 79.3% initial result broke a sequence of nine consecutive weekend rates above 80% when 747 homes were listed to go under the hammer at the weekend, the highest weekend offering since May.
The inner west continued the recent trend of reporting the highest suburban region clearance rate at the weekend with 89 auction sales from 100 reported results for a clearance rate of 89%.
The inner west was again this weekend closely followed by the lower north shore with a clearance rate of 84%.
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Strathfield tops Sydney weekend results as auction clearance rate eases

<html><body>
The priciest residential property to sell in Melbourne during the weekend was a house in Camberwell, 10 km from the CBD, sold for $3.6 million.
The glamorous five-bedroom, four-bathroom house on 743 square metres at 73 Bowen Street was sold through Bekdon Richards, according to Australian Property Monitors.
In May 2013, the then red brick knock down that was built in 1925 sold for $1.395 million.
About 200 people attended an ­auction to watch some 50 bids made by six ­competing buyers.
The two-storey house features a swimming pool.
James Buyer Advocates reported the auction bidding opened at $2,850,000 then at $3,350,000 and the bid is referred, followed by the announcement the property was on the market. 
The buyer's agency described it as a "really strong result given the street is a B-grader and the land itself was bought in March last year for $1,393,000." 
According to RP Data, the median house price for Camberwell was $1.71 million in August this year. In August 2013 the median price was $1.36 million. 
The last record for the road was set at 84 Bowen Street, which sold earlier this year for $1.775 million.
RP Data reports that Camberwell experience capital growth of 6.6% in 2013.
Melbourne’s weekend home auction market tracked backwards for the second weekend in row as signs emerge of a waning in buyer activity.
Melbourne recorded a weekend clearance rate of 73.8%, which according to APM was the lowest result reported for two months. This weekend’s result followed last weekend’s 75.8% with a falling trend now developing.
APM senior economist Dr Andrew Wilson suggested high auction numbers may be a factor in declining clearance rates with metro Melbourne this weekend hosting 903 auctions - well up on last weekend’s 740 and ahead of the 874 listed over the same weekend last year.
The Melbourne spring market will peak over the pre-Melbourne Cup weekend with an all-time record of over 1500 Saturday auctions due to be conducted in the metro area. 
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Auction success rate wanes as Camberwell tops Melbourne weekend results

<html><body>
The buyer who snapped up Simon and Shannon's apartment on The Block Glasshouse is an investor who missed out on apartments in The Block Fans v Faves.
Buyer's agent Frank Valentic of Advantage Property Consulting told Property Observer the investor was very keen on Simon and Shannon's apartment, and had previously bid on three of the apartments on offer in the show's last season.
After being priced out of the Albert Park apartments, the investor returned for The Block Glasshouse. According to Valentic, the buyer intends to rent out the apartment after settlement.
"Most of the agents were pitching furnished rentals at $1,500 to $1,750 per week," says Valentic, who notes apartments from The Block Fans v Faves were asking for around $2,100 in rent per week.
If rented out at $1,500 per week, the buyer of Simon and Shannon's apartment will be earning a 4.1% yield on their purchase. Should they find a tenant willing to pay $1,750 per week, the apartment will rent with a 4.7% yield.
According to SQM research, the implied gross rental yield for units in Prahran sits just north of 5.5%.
All three of the buyers Valentic represented at the weekend's televised auctions were investors. The other two did not secure apartments.
Valentic notes that while he predicted Darren and Dee's apartment and Michael and Carlene's would have the lowest selling prices, the $1.71 million price for Maxine and Karstan's apartment was a surprise.
"I didn't expect the third result," he says, explaining that it was "probably the biggest shock" of the auction.
The buyer's agent took around 25 buyers through the five apartments, with his clients rating Simon and Shannon's the best, followed by Maxine and Karstan's, and then Chris and Jenna's apartment.
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jrichardson-uRX5hFdKfN

The buyer behind the winning Block Glasshouse auction

<html><body>
Guest observation
To all of Australia, The Block Glasshouse auction results were a massive shock.
It was the first time in a very long time there was a harsh realisation that vendors don't necessarily make hundreds of thousands of dollars above their reserve, and people do buy within their limits.
Take it back a few months, and people were high fiving and celebrating the success; last night we saw reality.
A lot of people expressed sympathy for the contestants that didn't make a lot of money from their sale.
It served as a somber reminder of the gauntlet you run when you play the property market.
There are thousands of everyday Australians who have missed out on gains from their own projects, with an even harsher rationality hitting them with no cameras, media interviews, endorsements after the hammer has hit.
But why did The Block go wrong? Here are the main reasons:
<ol>
<li>
The apartments were over capitalised The contestants were trying to sell such a premium product, making investors very cautious. When people buy property, they want to see the potential upside and where they themselves can make money. The problem with having the apartments so impeccably finished, is it made it harder for buyers to add value. Because of that, they realised they were most likely buying them at the peak of their value. The reserves were set with what the production needed to get back to make it viable, and it seems they may have put too much money in to making a high end product. 
</li>
<li>
Not even The Block can triumph simple economics There are a lot of factors that go into a property's price. But at a fundamental level, the rules of supply and demand hold firm.  Prahran has seen a huge amount of redevelopment in the past 24-36 months. Trilogy apartments, which is approximately 200 metres further up High Street, has 323 apartments on offer, with an apartment complex across the road also offering brand new apartments. With so much on offer, it's hard to compete with buyers shopping for value. 
</li>
<li>
The apartments were not necessarily built for the end consumer It's easy on a design show to create a beautiful showpiece, but this doesn't necessarily transfer to practicality, or ensure you get your money back. People want value for money above anything, and some of the apartments were so lavish that it lacked genuine real living opportunities. It's all good and well to live in a luxury masterpiece, but you have to ask if it provides a home for someone and if it is what they are after. 
</li>
<li>
There were better properties on the market for that money A simple reason to understand why consumers didn't bid the properties up, is their belief they could get something better for those prices. If you have a look at other homes for sale, prospective buyers could have bought: <a href="https://www.propertyobserver.com.au/https://www.homely.com.au/south-yarra-melbourne-melbourne-greater-victoria/listingdetails/448951" target="_blank">204/4 Cromwell Road, South Yarra</a> <img src="/images/2014/10/13/Cromwell.jpg" alt="">
An open spacious apartment in South Yarra, pictured above, available for less money. Or <a href="https://www.propertyobserver.com.au/https://www.homely.com.au/prahran-stonnington-melbourne-greater-victoria/listingdetails/520908" target="_blank">3 Mary Street, Prahran</a> for $1,030,000. Mary Street offers three bedrooms, two stories and an open verandah on its on title of land. <img src="/images/2014/10/13/3%20mary%20Street.jpg" alt=""> The free standing house pictured above is quoted at $1,030,000. Either way, the lessons learned are that reality TV shows aren't necessarily the way to success and people won't just buy anything. With strong demand, people do want to see value for money and something that can offer capital gains over the long term. Properties that are unique, have land, and potential upside for redevelopment will trump established apartments most of the time. Todd Schulberg handles all things marketing for <a href="https://www.homely.com.au/" target="_blank">Homely.com.au</a>.</li>
</ol>
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ToddSchulberg-ooPiJQCUaR

Where did The Block Glasshouse go wrong?

<html><body>
Guest observation
The sales results on The Block may be shocking to some, but not to those of us who understand renovating and development risk.
Developing and renovating property by nature is a high risk activity. Many an enthusiastic investor has been sucked into the idea of renovating or developing for profit, without fully understanding the ramifications let alone their own risk profile or that of property developing as a strategy.
The results on The Block are evidence of the reality of what can happen when renovating; the need to fully understand the importance of location, the target market, the competition of other stock in the marketplace and not overcapitalising within the development itself.
Risk is the extent to which you are willing to expose yourself to loss, in return for a particular level of gain. This applies to an individual's personal tolerance for risk as well as the risk associated with different types of wealth creation strategies including renovating or developing for profit.
In short, The Block is a television program that is built around the strategy of renovating for profit. In each instance, the production company determines the type and location of the properties purchased. They take the risk hoping they will recover their costs while enabling the competitors to potentially win a cash prize and earn any profit made, over and above the reserve that they set (assuming there are profits).
The risk that the competitors take on board is their willingness to sacrifice income, time and time with family in exchange for a possible prize of $100,000 plus profit share. In doing so they are totally dependent on the production company purchasing not only the right type of property that will appeal to buyers (apartments or houses), in the right location (suburb and position in suburb), but ensuring they don't overcapitalise on the renovation, so that the reserve is reasonable and allows the contestants to make a profit.
So why is it that one of the worst properties (Chris and Jenna's) earned so much profit and three superior properties earned almost nothing by comparison?
What I observed in Sunday night's auction were several things:
<ol>
<li>There were at least two buyers who were prepared to substantially overpay for the first two properties, given their location, size and type of property (i.e. average location in a reasonable but densely populated suburb on a busy main road). These first two buyers skewed the results for the rest of the properties.</li>
<li>The three other buyers weren't prepared to overpay and once the first two buyers dropped out, there was little demand (competition) to drive the prices up beyond the reserve on the remaining three properties.</li>
<li>The calibre of auctioneer i.e. where they start the auction and how high their increments are can make a difference to the result</li>
<li>Auctions only work to create outrageous results when the demand for a property is greater than the supply, especially if the property is unique or boutique. The results indicate that The Block brand wasn't enough to make up for Prahran being an inferior location to Albert Park and even South Melbourne.</li>
<li>While design is a factor and important, it's not everything. Buyers want to ensure that they are also buying a property that has the potential for strong capital growth, even if it is as an owner occupier.</li>
<li>These apartments weren't on single floors, like those on The Block Sky High, or in an attractive boutique property like Fans v Faves. Neither were they houses, like the Dorcas St properties. Attracting ridiculous prices was always going to be a struggle.</li>
</ol>
In addition, the concept of buying below 'replacement value' is irrelevant if the renovator over capitalises on the renovation in the first instance. That is often just poor decision making on behalf of the renovator and means nothing when it comes to actual 'market value'. This is where the importance of suburb, location in suburb, level of competing stock on the market, type of property and other factors come into play.
While devastating for three of the couples who walked away with almost nothing, the moral of the story is that not all property performs the same way. It is a highly complex beast and not for the faint hearted.
Renovating or developing for profit is always high risk and only those with a high risk profile and solid understand of how to reduce development or renovation risk should undertake it.
Understanding these issues will minimise the chances of making costly mistakes and ensure the greatest possible change of success and importantly profit.
Miriam Sandkuhler is the founder of <a href="https://propertymavens.com.au" target="_blank">Property Mavens</a> - a specialist property advisory firm based in Melbourne. She is an Accredited Property Investment Advisor (PIAA), Licensed Buyer Advocate and REIV member and award nominated Buyer Agent, with fourteen years of real estate experience in two states. She is also the author of the book Property Prosperity.
Main picture courtesy of Channel 9. 
 
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MiriamSandkuhler-brdvzrAYV2

Let The Block Glasshouse results serve as a reality check for all would be renovators

<html><body>
The August Housing Finance Data from the Australian Bureau of Statistics has found that first home buyers are consistent, but remain at low levels with a new record low of 11.8%.
Finder.com.au delved into the statistics to bring us these five points about what first home buyers are facing in the current market and how they are acting as a response.
<ol>
<li>There was a 10% drop in the number of first home buyer home loans financed in August, from 6,718 in July to 6,055. 
</li>
<li>First home buyer numbers are at almost the same level as a decade ago, despite some capital cities experiencing more than double growth in median house prices and fewer incentives. The actual number of first home buyer home loans is close to the same level as a decade ago. For the 12 months to August 2014, there were 77,881 first home buyer loans financed, compared to 87,577 for the same period 10 years ago, for the year to August 2004. 
</li>
<li>In 2004, the First Home Owner Grant was uncapped so all Australian first home buyers were eligible for the $7000. Compared to today, the government has tightened its incentives, with limitations to new homes and caps, which vary across each state. 
</li>
<li>Interest rates are tipped to rise next year, which could change the equation again. The <a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=lpwVvawQQUacLRFzrVpf2skg7BH4udEIOYknQKfzrbe9EsPmb7W7wmiK7V8m5lGD9-ub2RTtFUQ.&amp;URL=http%3a%2f%2ffinder.com.au">finder.com.au</a> Reserve Bank Survey, which is now the biggest in Australia, found all 28 leading experts and economists are forecasting the cash rate to start rising next year, with an expected gradual rise to 4 percent over the next two-three years. That means home loan repayments for a $300,000 home loan is likely to increase by $300 per month. 
</li>
<li>The national median house value has risen by 72% in the past decade, from $325,000 in 2004 to $559,376 in 2014. The biggest jump was Darwin, with 170% increase over the past decade Median house prices across capital cities
</li>
</ol>
<table style="width: 345px; height: 162px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom"> </td>
<td align="center" valign="middle">
2014
</td>
<td align="center" valign="middle">
2004
</td>
<td align="center" valign="middle">
% Difference
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Sydney
</td>
<td valign="bottom">
$782,973
</td>
<td valign="bottom" nowrap>
$560,000
</td>
<td valign="bottom">
40%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Melbourne
</td>
<td valign="bottom">
$604,110
</td>
<td valign="bottom" nowrap>
$375,000
</td>
<td valign="bottom">
61%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Canberra
</td>
<td valign="bottom">
$557,871
</td>
<td valign="bottom" nowrap>
$375,000
</td>
<td valign="bottom">
49%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Brisbane
</td>
<td valign="bottom">
$466,980
</td>
<td valign="bottom" nowrap>
$300,000
</td>
<td valign="bottom">
56%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Darwin
</td>
<td valign="bottom">
$675,478
</td>
<td valign="bottom" nowrap>
$250,000
</td>
<td valign="bottom">
170%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Perth
</td>
<td valign="bottom">
$611,410
</td>
<td valign="bottom" nowrap>
$250,000
</td>
<td valign="bottom">
145%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Adelaide
</td>
<td valign="bottom">
$450,444
</td>
<td valign="bottom" nowrap>
$250,000
</td>
<td valign="bottom">
80%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
Hobart
</td>
<td valign="bottom">
$325,741
</td>
<td valign="bottom" nowrap>
$240,000
</td>
<td valign="bottom">
36%
</td>
</tr>
<tr>
<td valign="bottom">
National average
</td>
<td valign="bottom">
$559,376
</td>
<td valign="bottom">
$325,000
</td>
<td valign="bottom">
72%
</td>
</tr>
</tbody></table>
Source: <a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=lpwVvawQQUacLRFzrVpf2skg7BH4udEIOYknQKfzrbe9EsPmb7W7wmiK7V8m5lGD9-ub2RTtFUQ.&amp;URL=http%3a%2f%2ffinder.com.au">finder.com.au</a> analysis of Australian Property Monitors, Real Estate Institute of Australia
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jduke-EHk3XBmHkn

First timers doing it tough: Finder’s top five insights into the current market

<html><body>
 An apartment in Carnegie, southeast of the Melbourne CBD, was the Victorian capitals’ most affordable residential property to sell at auction this weekend.
The one-bedroom unit at 7/45 Oakleigh Road sold for $270,000 through agency Stuart Hocking Carnegie, according to Australian Property Monitors.
The price guide on the marketing leading up to the auction tipped a top price of $245,000. 
Stylishly fitted out and decorated with flamboyant golden wallpaper and minimalist furniture, the unit is on the top floor of the two-level 1970s-built red brick block.
It is rented for $295 a week reflecting a yield of 5.6% for the investor.
The last time the strata-titled apartment sold was in 2007 for $162,000 andthat deal was exchanged within seven days of listing, according to RP Data.
The median asking rent in Carnegie is $347 a week.
RP Data notes that 143 units in the area have sold this year and the median price paid for an apartment was $406,000 in August 2014. Median growth experienced among units in Carnegie in 2013 was 2.6%.
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Carnegie 5.6% investment rental Melbourne's cheapest weekend sale

<html><body>
At a recent investment seminar Investment One explained that prices in all the capital cities are now above their previous troughs.
Sydney, in fact, is up 23.1% since its trough according to RP Data statistics.
Yields remain high in Darwin, but have been starting to dip for units in recent months, while of all the capitals Brisbane offers the best yields.
They noted that each city has significantly different growth drivers that affect their cycles:
Sydney: Financial and business services
Melbourne: Goods and services production
Brisbane: Infrastructure and tourism
Adelaide: Manufacturing
Perth: Mining
Hobart: Primary production and ore processing
Regional areas: Agriculture and mining
Chinese investors are expected to keep demand for new apartments in inner city locations strong, and provided sentiment is sustained and rates remain low the market will hold up.
However, despite strong growth and fundamentals in Sydney and Melbourne, Investment One suggested that a glut of apartments may be on the way and growth will not be above trend.
“Within two years, there could be a glut of second hand apartments for rent and also for sale  in Sydney and Melbourne,” Investment One's Omar Moujalli said in his presentation.
“If population growth slows in Brisbane like it did during the  GFC, then the Brisbane market could suffer some over supply in 2018," said Moujalli.
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Is there a glut of apartments coming for Melbourne and Sydney?

<html><body>
The latest series of The Block Glasshouse tried to make a silk purse out of a sow's ear.
And the reduced pool of savvy potential buyers - and bidders - didn't buy into all the associated hype as the final three auction results limped over their reserves.
With a $1.6 million average sale price - reflecting around $6900 a square metre - it actually almost succeeded, though the viewing public was deprived if they only desired uplifting show business hoopla.
It was thwarted in the end by its b-grade High Street, Prahran location. For Sydneysiders it would be like flogging prestige apartments on Parramatta Road, Annandale, which has very nice houses away from its busy thoroughfare, though without the trams. Certainly Prahran and some of its Chapel Street is a cosmopolitan suburb, but not quite everywhere yet in the immediate neighbourhood.
The most profitable selling market would have been student style - or Gen Y workers - rather than vast luxe given its proximity to Swinburne University with the 6 route tram out front and the railway very close via the Percy Street garage exit.
So the deep-pocketed baby boomer buyers that are the traditional recent Block apartment auction attendee either understandably didn't turn up or showed suitable reserve and mostly kept their hands in their pockets given the mediocre Prahran location. Couldn't imagine the baby boomers heading a few doors along to Misty’s Diner, a genuine American diner right next door to a <a href="https://www.theworkscarwash.com.au/theworks/" target="_blank">hand car wash</a> at what one blogger recently described as <a href="https://filluponbread.net/2014/06/26/mistys-diner/" target="_blank">the bleaker end of Prahran High Street</a>.
The local gay population didn't appear to embrace much of the Glasshouse either.
Also property success is often premised on population trends so those big three bedroom apartments were perhaps oversized for the very obvious Prahran composition of households without children. It sits at around 70% compared to the 50% Melbourne average. Ditto the lone person households category in the last census sat at around 40% of Prahran households compared with the Melbourne 23% average. There were just the 99 households in Prahran with five or more occupants.
Also RP Data puts the median Prahran apartment price at <a href="/news">around $510,000</a>, and going backwards a bit after its recent peak, presumably because of the enormous increase in newly constructed stock. Prahran houses have a $900,000 median. Just across High Street is for instance, ART, a block of 50 apartments that has incorporated supposed hip art into its eastern facade ands its foyer after a Facebook page where people could vote for their favourite. <a href="https://www.artprahran.com.au" target="_blank">Designed by ROTHELOMWMAN for developer Crema</a>, ART included 26 one-bedroom apartments, 23 two-bedders and the three-bedroom, two-bathroom penthouse. 
The one-bedroom apartments range from 51 square metres to 76 square metres; the two-bedroom apartments from 69 square metres to 87 square metres; and the penthouse was marketed as 160 square metres. Back in 2011 the off the plan prices for all but the penthouse ranged from $346,000 to $719,000, so from $6700 a square metre to $9400 a square metre. The penthouse fetched $1.16 million on its June settlement, so around $7250 a square metre. The former petrol station-turned residential development was offloaded by the Deague family at $5.5 million after they scrapped plans to build a hotel as part of its "art" series chain. 
The much desired $2 million plus hopes for the Glasshouse proved elusive. One Melbourne buyers' agent has egg on their face for suggesting the $2 million likelihood even on auction eve when the feedback ought have been obvious.
"This is reality … the property market is the one thing we can't control," bemoaned decor consultant Shelley Craft during the Channel 9 telecast.
“Something happened ….that’s not easily explained by me or frankly by anyone else,” producer Julian Cress told easily convinced, naive newspaper reporting attendees, adding they used the same valuer in each and every series.
The full results:
<ol>
<li>Simon and Shannon, 2/125 High Street: $1.9 million ($335,000 over adjusted reserve)</li>
<li>Chris and Jenna, 2/121-127 High Street: $1.81 million ($310,000 over reserve)</li>
<li>Maxine and Karstan, 3/121-127 High Street: $1.71 million ($40,000 over reserve)</li>
<li>Michael and Carlene, 1/125 High Street: $1.39 million ($10,000 over reserve)</li>
<li>Deanne and Darren, 6/121 High Street: $1.38 million ($10,000 over reserve)</li>
</ol>
The further into the auction finale - and the more Scottie slumped into his couch - viewers got to see just how hit and miss property renovation success can be when buyer demand doesn't go deep enough for the ill-suited, over supply.
They were lucky all five apartments of The Block Glasshouse were sold under the hammer at their Prahran onsite auction, as the extended last offering brought flooding back memories of the Richmond auction disaster in 2011 when just one of the four Block cottages sold under the hammer.
But with metres of floor space over five floors, the Prahran building was almost double the size of the historic Dux House warehouse renovation at 47 O'Grady Street, Albert Park which the Watercress production company bought from billionaire businessman Lloyd Williams last year for $5.9 million. It was perfect for their flush buyer mix. 
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">The Block Fans v Faves results</a> which secured a $9.6 million total in April were as follows:
<ol>
<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
</ol>
It was a similar success at The Block Sky High too at 142 Park Street, South Melbourne parkland which secured five sales totalling $7.6 million, with Watercress having retained the sixth apartment, after paying $6.71 million for the four-star bizMOTEL, which closed its doors in late 2012.
 
<ol>
<li>Apartment 5 Trixie &amp; Johnno – $1.605 million - $205,000 over reserve</li>
<li>Apartment 4 Madi &amp; Jarrod – $1.601 million - $291,000 over reserve</li>
<li>Apartment 3 Bec &amp; George – $1.507 million - $242,000 over reserve</li>
<li>Apartment 2 Matt &amp; Kym – $1.455 million - $250,000 over reserve</li>
<li>Apartment 1 Alisa &amp; Lysandra – $1.435 million - $295,000 over reserve.  
</li>
</ol>
So the High Street Glasshouse office block now has six split-level, atrium apartments above two retail/restaurants premises after the production company, Watercress spent $8.25 million on the 1980s office building. The $2.5 million Brenchley Architects infill works schedule was mostly internal, and then the constantant couples spent their renovation funds.
The $8.2 million auction proceeds covered the initial outlay with Watercress retaining the sixth apartment plus two street front retail premises. And then there is all the ad revenue for Channel 9.
The winning Glasshouse apartment at 4/125 High Street, renovated by brothers Simon and Shannon Vos, had a southerly aspect overlooking busy, noisy High Street, so it was the hipster fit out that seemed to work in its favour.
The 249 square metre apartment was the second largest of the five on offer.
It's priced reflected the top $7630 a square metre.
Chris and Jenna with their runner-up offering had 277 square metres of floor space, making it the biggest apartment in The Block. But with just skylights and an internal terrace along with the rooftop terrace. It's price was $6530 a square metre.
Max and Karstan had the apartment at 3/121-127 High Street Prahran, with a sunny north-westerly aspect. The couple also have an extra little, almost useless room. The sale worked at to be $7125 a square metre as their apartment was 236 square metres of floor space.
Michael and Carlene's apartment at 1/125 High Street has 236 square metres of floor space, and a southerly aspect. It was the poorest price at $5890 a square metre.
Deanne and Darren's apartment, 6/121 High Street, was the smallest on The Block, with just 186 square metres of floor space.
But it, however, had the most desirable aspect, facing northward and delivering city views. Its sale price reflected $7,419 a square metre, the second placed by square metreage.
Each apartment will also have 70 square metres of private storage and two car spaces.
Viewers saw it was a very close shave exceeding the reserve for the threesome of the contestant couples.
And there were two terrific over-reserve results on High Street in the ninth series of the Channel 9 series. 
It appeared the order of sale again impacted the result as it did in past series where investors, rather than home buyers, were at the fore, but this time it favoured those who went up in the auction order.
The first series of The Block in Bondi Beach back in 2003 came after the $1.95 million four block acquisition through the Channel 9 company. 
Such has been the success of the reality television renovation stress series that nowadays that doesn't even come close to the current day renovation costs. 
The next series at Darling Street, South Yarra might work out ok, though it is cheap serviced apartment heartland. Then onwards to the <a href="/expert-insights/investing/the-block-south-yarra-octagonal-hotel-saville-mystery">still unconfirmed Octagonal</a> which will be anyone's guess as to how it goes!
*Jonathan Chancellor, the Property Observer editor at large, has been closely following The Block since its 2003 Bondi Beach debut series.
Property reality television shows can inspire and create controversy and drama, but that doesn’t mean there aren’t some lessons to learn. Here’s our latest free eBook with tips, tricks and information we’ve gained from <a href="/images/stories/marketing/ebooks/PO-ebook-RealityTV.pdf?utm_source=Property+Observer+List&amp;utm_campaign=e7c94f84fa-16_September_2014&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-e7c94f84fa-" target="_blank">property game shows</a> through the years. 
 
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