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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The final three penthouses at Kyko Group’s $150 million Mon Komo development in Redcliffe, Queensland have been released. 
Offered from $765,000 to $1,295,000 and from 148 square metres to 247 square metres, they include views to Moreton Island and come with Miele appliances.
The most expensive penthouse, and the largest, includes two bedroom, two bathrooms and a multipurpose room. The master bedroom includes a walk-in wardrobe.
<img src="/images/2014/09/17/Mon%20Komo%20internal%20with%20view.jpg" alt="">
The smallest includes two bedrooms, two bathrooms and a study.
The entire development includes a mixture of 184 residential and short stay apartments across two 12-level towers at 99 Marine Parade.
In February, <a href="/news/qld/close-to-11-million-of-new-apartment-sales-recorded-at-mon-komo-development-redcliffe">close to $11 million of apartments were recorded as sold in the development</a>, including an $825,000 penthouse.
<img src="/images/2014/09/17/Mon%20Komo%20internal.jpg" alt="">
More recently, two pricier penthouses sold – each with three bedrooms and multipurpose rooms – for nearing $2 million.
Secure basement storage can be purchased separately for each of the penthouses.
In total, Mon Komo’s residential tower includes eight penthouses.
<img src="/images/2014/09/17/redcliff-sept-17-breakout.jpg" alt="">
Adrian Parsons, Mon Komo marketing manager and managing director of TOTAL Property Group, said that this final release is a “lifestyle investment”.
“From both a financial and lifestyle viewpoint these penthouses offer the perfect opportunity for an astute investor to capitalise on an exceptional development,” said Parsons.
Click here for <a href="/news">property statistics on Redcliffe.</a>
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Final three penthouses released at Redcliffe, Queensland’s Mon Komo

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According to the RP Data CoreLogic Home Value Index, combined capital city home values have increased by 10.9% over the 12 months and by 18.7% over the current growth phase. 
With many economic indicators heading in the wrong direction, it seems counter-intuitive that home values would continue to rise as strongly as they are.  The answer to why home values continue to rise can partly be explained by the level of equity sitting in our homes.
The Australian Bureau of Statistics (ABS) estimated that as at June 2014 there were 9,366,800 residential dwellings across the country.  Over the 12 months to June 2014, RP Data estimated that there were 484,000 dwellings sold across the nation.  Based on these figures, just 5.2% of total dwelling stock sold over the past year. 
Equity is difficult to truly calculate as there are no regular statistics available on home equity levels, as you’d imagine the banks hold this data quite tight.  So whilst we can’t determine the reduction in the initial borrowings over time, we can determine how much home values have increased over time which is a key component of how much wealth has been accumulated in a property.
<img class="aligncenter size-full wp-image-3725" src="https://blog.rpdata.com/wp-content/uploads/2014/09/Chart-12.jpg" alt="Chart 1" width="500" height="180">
Over the past two decades, the level of value growth across Australia’s capital cities has been strong.  As deregulation of financial markets has taken place lending for residential housing has ramped up significantly.  Subsequently, the cost of housing has risen and those who own a home or have a mortgage have seen a large rise in their equity.
Since national home values reached a low point in December 2008 after a cumulative -6.1% fall from March to December of 2008, there has been a significant divergence in the level of capital growth across individual capital cities.
<img class="aligncenter size-full wp-image-3726" src="https://blog.rpdata.com/wp-content/uploads/2014/09/Chart-22.jpg" alt="Chart 2" width="500" height="184">
From the end of 2008 to August 2014, total home value increases have been much greater in Sydney and Melbourne than across the other capital cities.  This is by virtue of value rises of 27.2% and 19.5% over the current growth cycle as well as quite strong value rises throughout the 2009 and 2010 growth cycle. 
The impact of this growth in home values means that even those who have only recently purchased in Sydney and Melbourne, say in 2009 or 2010, have already seen a large increase in the value of their home.  As a result, some are using this equity to purchase investment properties, others will use the equity to upgrade into more suitable housing for their needs and of course others will have different or no strategies for the equity.
<img class="aligncenter size-full wp-image-3727" src="https://blog.rpdata.com/wp-content/uploads/2014/09/Chart-32.jpg" alt="Chart 3" width="500" height="185">
Housing finance data from the Australian Bureau of Statistics (ABS) shows that investment lending for new loans (this excludes refinances) has recently hit record levels while first home buyer demand is at an all-time low. 
The two driving segments of the housing market are investors and subsequent buyers (those upgrading or downgrading their principal place of residence). 
But why are they choosing property, why now and why Sydney and Melbourne?
Article continues on the the next page. Please click below.
<hr class="system-pagebreak">
Standard variable mortgage rates are currently recorded at 5.95%.
Outside of an eight month period between February 2009 and September 2009, standard variable mortgage rates haven’t been lower than they currently are since the early 1970s. Over recent years, discounted variable mortgage rates have become much more prevalent in the mortgage market. 
Currently, discounted variable mortgage rates are 85 basis points lower (5.1%) than standard mortgage rates.  With the banks competing heavily for mortgage business currently a large proportion of borrowers are able to get that discounted rate or even lower on their home loan.
The low interest rates also have an impact on investment decisions by making certain other asset classes less attractive.  With official interest rates sitting at 2.5% the amount of interest for cash sitting in the bank is very little.  According to data from the Reserve Bank (RBA) in August, a three-year term deposit with $10,000 or more receives just 3.65% interest per annum.  When you consider that inflation is at 3.0%, the real returns from a term deposit are miserly.
The relatively low cost of servicing a mortgage currently and the low returns on risk-free investment is attracting increasing investor activity to the housing market.  The historical performance of an asset should not be used as guidance to the future returns.  Although this is the case and a disclaimer many use when providing investment advice, the historic returns from residential housing have been impressive and difficult to argue with.  
bviously many people believe that these returns will continue into the future.  It is important to note that housing market returns have generally been much more moderate following the financial crisis than they were prior to the crisis. In fact on an annual basis home values have fallen over three of the past seven calendar years (2008, 2011 and 2012).
With returns so low amongst risk-free investments, investors have clearly shifted their focus to slightly riskier asset-classes such as residential housing.  In particular the focus has been centred on our two largest cities, Sydney and Melbourne.
Although housing has proven to be a low-risk investment class over recent times it is not a one-way bet.  Values are rising on the back of increased competition for stock however, with values rising at some point a proportion of the market will no longer be able to afford the homes available for sale.  At some point in the future (who knows when) growth in values will slow and interest rates will increase.
We are also seeing a very strong supply-side response with a record high number of dwelling approvals over the past 12 months.  Additional supply should ease some of the upwards pressure on values.  It has already resulted in a moderation of rental growth, with rental pressures subsiding we may also see more potential buyers choosing to remain in the rental market rather than purchase their own owner-occupied property.
When value growth slows or starts to fall we may see investors shift from housing to other more liquid asset classes.  As interest rates rise, servicing the mortgage becomes more expensive. 
Housing has generally provided solid capital gains over the past two decades and growth conditions across Sydney and Melbourne are currently spectacular. However, the market moves in cycles and the growth being seen in Sydney and Melbourne will eventually transition to less expensive markets that show stronger fundamentals for capital gains.
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Why are home values still rising?

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GUEST OBSERVATION
Market Outlook: unchanged - neutral with negative bias
<ul>
<li>Attractiveness of renting as a preferred accommodation option has further increased (as at September 2014).</li>
<li>Purchase affordability is still very high but declining - it provides support for prices at the current level (as at June 2014).</li>
<li>Confidence in the economy continues to deteriorate with no signs of improvement (as at September 2014).</li>
<li>Housing Credit Impulse has turned down, indicating change in the underlying demand for residential real estate (as at September 2014).</li>
<li>Actual prices are above what could be expected based on changes in housing credit, making them sensitive to adverse changes in economic conditions (as at July 2014). </li>
</ul>
National Real Estate Price Forecast
The latest indicators provide further evidence of weakening market conditions.  
The pessimism about the economy and the rising purchase costs that detract potential buyers from the market have started to impact on overall demand.
Purchase affordability is deteriorating but it still remains high, providing support for the current price level. Nevertheless, prices are quite vulnerable at present and the prospect of further strong growth is rather limited - and conditional on the return of optimism.
In the absence of evidence that demonstrates prices have reached their peak in the current cycle, the outlook for the property market in Australia remains neutral. The scenario of subdued market conditions, leading to no or small growth in prices, remains the most probable outcome for September and December quarters. 
#1 optimal accommodation choice: attraction of renting is increasing
<img src="/images/2014/09/17/BRI_September2014.png" alt="">
The Buy-Rent Indicator (BRI) identifies how cost of buying is changing in relation to cost of renting.
BRI bottomed in June 2012 (indicating the lowest point in the current cycle) and it has been rising consistently since then. The indicator crossed the equilibrium line in March 2014. The September 2014 estimate points to a continuation of an upward trend for this indicator.
BRI is constructed based on the simple concept that renting and buying are substitute accommodation options, hence the optimal choice depends on which accommodation cost is rising in relation to the other. The practical use of this indicator is for identifying market cycles and for timing purchase and sale decisions.
The crossing of the indicator from buy to rent zone gives a signal that buying costs are starting to rise faster than rental costs.
In a market where purchasing costs are rising mainly due to price increases, the optimal point for selling the property will be when the indicator peaks, which should coincide with an interim peak in property prices.
As outlined in the last report, we are already two years into the current cycle.  The longest uptrend in the last 30 years was 3.5 years in duration, hence current cycle peak in property prices can be expected before the end on 2015.
Unless, of course, this cycle turns into an exceptionally long one - for example, due to historically high purchase affordability, if confidence in the economy improves.
All in all, fast moving prices from this point onwards can lead to a quite dramatic reduction in the demand for properties and, in effect, shorten the overall cycle.
Stagnating or slowly growing prices, which seems to be the more likely scenario, can potentially limit the negative impact on demand as growth in buying costs will be offset to a large degree by rising rental costs. This can delay the peak and extend the duration of the overall cycle.
 #2 purchase affordability: at a historically high level but falling 
<img src="/images/2014/09/17/PAI_September2014.png" alt="">
The Purchase Affordability Indicator (PAI) compares changes in the annual cost of buying to changes in average full time adult income, therefore it identifies how purchase affordability has changed over time.
PAI is still at a historically high level despite the September 2014 estimate falling in value. 
This indicator explains that, relative to incomes of Australians working full time, property prices are still very affordable.
The cost of buying a median priced property relative to average income is now 26.1% lower than it was in 1986. So, given the expectations of long term low interest rates, there is still a lot of room for prices to move before Australian property can be considered overvalued.
Article continues on the next paqe. Please click below.
<hr class="system-pagebreak">
#3 perceptions about economy: negative and deteriorating
<img src="/images/2014/09/17/EWI_September2014.png" alt="">
The Economic Wellbeing Index (EWI) is designed to reflect general perceptions of Australians about the current economic conditions.
The EWI is falling since June 2013. The September 2014 estimate is in the negative territory and continues trending downwards.
The key premise behind this indicator is that people are generally less inclined to make big purchases when they are worried about the state of the economy.
Actual prices cannot be expected to advance strongly in an environment where a gloomy outlook on the future prevails.
If there is no substantial change in perceptions about the economy, market conditions will be rather soft for the reminder of the spring selling season.
A scenario of subdued market conditions, flagged in earlier reports, has already started to play out in real time - RP Data’s daily price index for five capital cities shows that prices have fallen in mid September from the peak reached at the end of August.
#4 demand: weakening as trend has changed
<img src="/images/2014/09/17/PHCI_September2014.png" alt="">
The Private Housing Credit Impulse (PHCI) provides an indication of the level of buyer activity in the residential property market in Australia, hence it reflects underlying demand for properties.
The September 2014 PHCI estimate is positive but the indicator has just turned south. This is a very strong negative signal indicating change in the underlying demand for properties. The September value of PHCI is subject to final revision.
The practical use of this indicator is to provide early warning about impending changes in housing credit uptake, and hence, changes in the underlying demand for residential property.
A positive but declining value of PHCI indicates that credit uptake is slowing down and therefore, that the underlying demand for residential property is softening.
#5 property price expectation: growth to slow or flatten 
<img src="/images/2014/09/17/PPG_September2014.png" alt="">
The Property Prices Gauge (PPG) is a proxy of a property price index. It becomes a leading indicator when combined with House Price Index (HPI).
PPG recorded a small increase in July 2014 but remains well below HPI.
The PPG is rising but not very strongly. Hence, the support for the current price level is weakening and, as outlined in the last report, this situation can make prices quite vulnerable.
In other words, the fact that PPG cannot move closer to the current HPI level can only imply an underlying weakness in the market and hence, greater uncertainty about the future direction of property prices.
We can already see some tangible evidence of that weakness. In particular, last weekend RP Data reported a reduction in auction clearance rates and their daily index of 5 capital city prices recorded a small decline.
Arek Drozda is an independent property market analyst.
Caveat: The information is provided in good faith and does not constitute financial advice. Use with caution and at own risk.
Background information: For more extended description of individual measures and how to apply this information please refer to the first report in this series: <a href="/expert-insights/buying/buying-more-advantageous-than-renting-yet-change-imminent-april-2014-state-of-the-market-analysis">State of the Property Market, April 2014</a>. 
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Market conditions continue to weaken: September state of the market analysis

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Despite tentative auction listings and home prices over the past week, ANZ Research’s David Cannington still expects growth in the Sydney and Melbourne markets.
In his recent Australian Housing Market Update Cannington noted that Sydney and Melbourne in particular are recording positive home buyer sentiment, with clearances in excess of 70%, even while vendors “remained reserved with the number of auctions around trend levels”.
Steady consumer confidence and elevated clearance rates in more recent weeks are evidence of a short-term demand.
Similarly, house price gains were a mixed bag. While Sydney, Melbourne and Brisbane eased over the week, Adelaide and Perth edged a little higher.
Since the beginning of August, Cannington noted that the prices have increased in trend terms across all, bar one, of the capitals. Brisbane is the capital that was left behind from this growth.
This leads Cannington to conclude that further gains are expected for Sydney and Melbourne, although at a moderated level.
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Further gains tipped for Sydney and Melbourne: ANZ

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A contemporary four bedroom house in Brighton East was the most expensive sale of last week, according to RP Data.
The home at 13 Edro Avenue (pictured above), which sold for $3.87 million, was one of only two Victorian offering to make it to RP Data's list of the top 10 capital city sales of the week. The remaining sales were all in Sydney.
RP Data's top 10 sales of the week:
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-brighton+east-117733755" target="_blank">13 Edro Avenue, Brighton East, Vic  </a> Last week's most expensive house, which sold through Hocking Stuart Brighton, comes with a self cleaning pool and outdoor kitchen. The internal marble kitchen includes a butler's pantry, and looks out over one of three living spaces in the home. The house includes a drying room, hydronic heating, automatic blinds, and a large study or fifth bedroom. Vendors purchased the land for $1,402,000 in April 2009, later building the new home on the plot.  </li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-cabarita-116630479" target="_blank">53 Dorking Road, Cabarita, NSW </a> <img src="/images/2014/09/16/2.jpg" alt=""> This waterfront home sold for $3.8 million through Raine &amp; Horne Montano. The 1990s build replicates late 1800s architectural features, with tessellated tiles, ceiling roses and deep skirting boards. The house, which sits on a 1,016 square metre waterfront parcel, has six bedrooms and four bathrooms. The vendors bought the plot for $600,000 in 1990. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-castlecrag-117747079" target="_blank">13 The High Tor, Castlecrag, NSW</a> <img src="/images/2014/09/16/3.jpg" alt=""> A five bedroom house sold prior to auction for $3,335,000 through Chadwick Real Estate Turramurra. The home, situated on an elevated plot, offers views across Middle Harbour. It features multiple formal and casual living and dining areas, double bedrooms, a CaesarStone kitchen and an outdoor pool. The vendors purchased the house in 2007 for $3,000,000. They have attempted to sell it multiple times - once in February 2010 and again in 2011, pulling it off the market after 334 days. It sold last week after 293 days on the market. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-117662979" target="_blank">3 Farnell Street, Hunters Hill, NSW</a> <img src="/images/2014/09/16/4.jpg" alt=""> A Philip Lance designed home in Hunters Hill sold for $3.25 million through McGrath Hunters Hill. The five bedroom, five bathroom home includes a covered entertaining terrace with a built in barbecue and an outdoor pool. Two of the home's bedrooms have balconies. The house also comes with triple basement parking. The sellers bought the home for $1.3 million four years ago. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-paddington-117671911" target="_blank">284 Moore Park Road, Paddington, NSW</a> <img src="/images/2014/09/16/6.jpg" alt=""> Paddington's very own Addams Family House sold for $3,082,000 million last week. Verulam was sold through Raine &amp; Horne Double Bay. The house, offered for the <a href="/expert-insights/buying/addams-family-style-paddington-house-sold-at-3-082-000">first time since the 1920s</a>, came with a $2.5 million price guide. The Queen-Anne styled three level Federation house sits on a 393 square metre dual access block. 
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-nsw-sydney-117405027" target="_blank">5605/393 Pitt Street, Sydney, NSW</a> <img src="/images/2014/09/16/7.jpg" alt=""> The 46th storey penthouse at the north east corner of Sydney's Horden Towers sold for $3.08 million through House 18. It includes four king sized bedrooms, two with en suites, an open plan living and dining area and an enclosed kitchen. The two level penthouse comes with access to the complex's 25 metre pool, spa, sauna and gym. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mortonandmorton.com.au/11175363" target="_blank">B902/24 Point Street, Pyrmont, NSW</a> <img src="/images/2014/09/16/8.jpg" alt=""> A three bedroom apartment sold for $3.0 million through Morton &amp; Morton Pyrmont last week. The penthouse, spread over 265 square metres, has uninterrupted views over the harbour to the bridge and Sydney's skyline. The apartment comes with a private barbecue terrace, multiple balconies, carpeting throughout and a master bedroom with a dual walk in robe. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-117705239" target="_blank">9 Rosslyn Street, Bellevue Hill, NSW</a> <img src="/images/2014/09/16/9.jpg" alt=""> BrafieldCleary Double Bay sold this five bedroom house for $2.98 million. The attached home includes a fireplace, a north facing living and dining area, solar heated pool and a climate controlled cellar. It sits on a 338 square metre block. The vendors purchased the home 14 years ago for $1,725,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-south+yarra-117731159" target="_blank">38 Davis Avenue, South Yarra, Vic</a> <img src="/images/2014/09/16/10.jpg" alt=""> The second Melbourne home on this week's top 10 list, this house sold for $2,955,000 million through Kay &amp; Burton South Yarra. The single storey Victorian residence sits on a 561 square metre plot, with a rear garage and studio. The four bedroom house features Baltic floors, marble fireplace mantles, ceiling roses and decorative cornices. The sellers owned the house for 13 years, purchasing it for $1.38 million in January 2002. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dural-117766239" target="_blank">3 Vineys Road, Dural, NSW</a> <img src="/images/2014/09/16/10.jpg" alt=""> McGrath Estate Agents sold a four bedroom, four bathroom Dural house for $2.95 million last week. The house, sitting on a corner 4,047 square metre block, features multiple interior living spaces, three of which open onto outdoor entertaining areas. The property includes a pool, paved entertaining spaces and gardens landscaped by Rolling Stones Landscapes. The home was purchased by the vendors for $2 million in May 2008.</li>
</ol>
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Brighton East home tops last week's sales: RP Data 

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Next month, construction will begin on the $15.5 million boutique apartment development The Whitfield located in <a href="/news">Bassendean</a>.
Builder PACT Construction have been announced as the successful tenderer.
The complex, with 34 apartments, a cafe and office space, spanning four levels, will take about 58 weeks to complete with a build contract value of $7.7 million.
<a href="https://thewhitfield.com.au/" target="_blank">The Whitfield</a>, at 78-80 Old Perth Road, includes one and two bedroom apartments. The office space has already been sold to a financial services company, as have the café premises.
Every apartment includes a private balcony and the complex has secure parking, bicycle storage, air-conditioning and CCTV.
One bedroom apartments are priced from $379,000, with two bedrooms available from $469,000. A "typical one bedroom" apartment includes 84 square metres, with a "typical two bedroom" apartment spanning 113 square metres.
At present, it is already 75% sold, predominantly bought by local residents intending to owner occupy the apartments, said The Whitfield developer Willing Property founder Tim Willing.
“The Whitfield will further enhance Bassendean’s status as a town on the rise, with excellent transport, local amenities, access to the CBD and Swan Valley along with an emerging café, local shopping and small bar scene,” he said.
“This is the third project for Willing Property in the past year, which include The townhouses in Mt Hawthorn, where we revamped 42 three-bedroom and two bathroom townhome residences, as well as our forthcoming riverfront land lots in Bayswater.”
Architect John Silbert and Associates have designed a red façade and incorporated a private central garden atrium, waterwise landscaping and BBQ facilities.
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Construction poised to commence at Perth’s $15.5 million The Whitfield

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A double-storey 1980s Beaumaris house designed by architect Andre Piotrowski didn't sell at weekend auction.
It was last sold in 2002 for $920,000 by the architect.
Its Brutalist features come from the extensive use of concrete on exterior surfaces. 
It came with $1.35 million plus hopes but was passed in at $1,385,000 <a href="https://www.realestate.com.au/property-house-vic-beaumaris-117487643" target="_blank">through </a><a href="https://www.realestate.com.au/property-house-vic-beaumaris-117487643" target="_blank">Michael Cooney at Hodges Beaumaris</a>.
The four bedroom 1982-built property at 1 Olinda Avenue sits on a 651 square metre corner with a resort-style pool.
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Beaumaris Brutalist design fails to sell at weekend auction

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A preliminary weighted average clearance rate of 70.8% was recorded this week across capital cities compared to 74.1% last week and 72% this time last year.
This week will have added to the already substantial growth in auction volumes this year across capital cities. Prior to this week there had been 61,056 auctions in capital cities,33.6% more than the 45,696 held over the same time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter wp-image-3715 size-large" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city-580x434.jpg" alt="RP Data auction comment | Capital Cities" width="580" height="434"></a>
In Sydney a preliminary clearance rate of 78.3% was recorded compared to 80.1% last week. Last week was only the fifth time in the past five years a clearance rate of over 80% was achieved and this week has returned a similar result.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3716" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney-580x391.jpg" alt="RP Data auction comment | Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 70.5% recorded on the first week with over 1,000 auctions for the spring season compared to 76.6% last week. Higher volumes have translated into more sales, so far this year there have been five homes sold at auction for every four last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3717" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne-580x389.jpg" alt="RP Data auction comment | Melbourne" width="580" height="389"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 44.7% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3718" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane-580x384.jpg" alt="RP Data auction comment | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 62.7% compared to 68.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3719" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide-580x392.jpg" alt="RP Data auction comment | Adelaide" width="580" height="392"></a>
In Canberra a clearance rate of 52% was recorded and in Perth there was a clearance rate of 43.8%.
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rlarocca-zWhvjay44N

Capital city auctions deliver healthy returns: RP Data's national auction wrap

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Sydney vendors have done very well over the past year with 59.4% of houses selling above their list price.
Sydney was followed by Melbourne where 50.4% of private treaty vendors faring above expectation.
The two cities were head and shoulders above the rest of Australia’s capitals and the regions, according to the Aussie/RP Data report.
It also found that in the year to 30 June, some 37% of Sydney houses sold for less than their initial list prices.  
Some 52.6% of capital city vendors accepted below list price, and then across Australia, the majority of vendors are selling for less with 63.4% of house sales falling short of their list price.
 <img src="/images/2014/09/15/aussise-sept-15-one.png" alt="">
The Aussie executive chairman John Symond said the new report indicated that city markets were much stronger than regional areas.
"For those looking for capital growth, the theme clearly indicates that capital cities are the places to invest, while regional areas are more about lifestyle than returns”, Mr Symond suggested. 
The data was based on private treaty sales, listing the top suburbs securing sales above the list price, kicked off with a 100% success rate in <a href="/news">Middle Cove</a> on Sydney Harbour.
The report found that ­all 10 houses in Middle Cove sold at above list price, with<a href="/news"> Winston Hills</a> in second place.
Winston Hills was ­especially impressive, and busy, with 96.6% of its 174 houses sold over the year fetching more than advertised, also selling quickly in around 25 days.
 <img src="/images/2014/09/15/aussise-sept-15-three.png" alt="">
 The report also listed the suburbs securing sales at under the list price, kicked off by <a href="/news">Emu Park</a> in Queensland. 
"There’s still an opportunity for savvy home buyers to negotiate down in some areas," John Symond noted.
"Sellers and buyers should take list prices with a grain of salt as the results are working out to be quite different from original expectations,” Mr Symond said. 
 <img src="/images/2014/09/15/aussise-sept-15-five.png" alt="">
 
Properties selling above list price are being snapped up quickly, with the top 10 suburbs average time on market for homes selling in just 38 days against 147 days for homes selling below list price.
"Buyers should be prepared to think quickly and act smart, and go into their property search with their mortgage pre-approval sorted.
"Knowledge of the market and a strong will not to stretch themselves beyond their means is also critical, especially if interest rates rise as they’re tipped to do in 2015,” Mr Symond concluded.
Click through to <a href="https://www.aussie.com.au/mortgage-broker/lp/offer-property-discounting.htm" target="_blank">download the full Aussie/RP Data Property Discounting report</a>. 
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Capital city asking price sales' success leaves the regions in the dust: Aussie

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The first sod has been turned at Spectrum Apartments, an affordable housing project in Brisbane’s north.
The $13 million <a href="https://spectrumbrisbane.com.au/apartments" target="_blank">Spectrum </a>apartment complex at 616-638 Lutwyche Road will be built on a 4,370 square metre block of state-owned land.
Housing provider BHC is developing the plot into 64 affordable and private apartments and retail spaces and was gifted the land by the government. The three levels include ground floor commercial/retail spaces, with 30 of the residential apartments for sale.
Architects Cottee Parker’s design will include roof overhangs, screens and sunhoods, as well as weather proof pedestrian access on the street frontage.
Major construction is to begin next year with completion scheduled for 2016.
BHC chief executive officer David Cant said that Spectrum will include offices for MS Queensland, with affordable accommodation offered to multiple sclerosis sufferers through a partnership with the charity.
“Spectrum Apartments will provide a path back to the inner city for those who haven’t been able to keep up with Brisbane’s rising rents,” Cant said.
Apartments will include secure under cover parking. Floor plan configurations on the two levels include one bedroom, one bathroom, and two different two bedroom, two bathroom layouts.
A communal recreation area with seating and a BBQ area will also be built.
 
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