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>
The recent House Rules contestants Ryan Pusic and former partner Candy Stuart secured a bullish $590,000 when they sold the Emu Plains house they renovated on the hit Channel 7 show.
It represented a $190,000 subsidised flip success.
Selling agent Paul Wallace at Property Central Penrith told Property Observer that he had issued 15 contracts pre-auction.
There were eight registered bidders with around four getting in a bid at the weekend auction.
45 Gough Street had been listed with $499,950 plus price guidance for its August 30 on site auction which was attended by a crowd of 250, including the two vendors.
Ryan Pusic said it closed a chapter in the now separated couple’s lives.
He plans to stay in the Penrith region.
Since the show ended, the entire house had been rendered along with a fresh paint job.
The property is on a 626 square metre block.
<img src="/images/2014/08/08/house%20rules.jpg" alt="">
Above: Candy and Ryan's unrenovated home in 2013. 
Candy and Ryan purchased the home for $400,000 in August 2013.
The suburb, <a href="/news">according to RP Data</a>, comes with a median house price of $471,000, up from $437,000 when the couple made their purchase.
The neighbouring four bedroom 1970s house fetched $500,000, in the street's most recent comparable in 2012, then put up for rent at $530 a week.
Property Observer understands that contestant couples are contracted not to immediately sell their renovated home post-production, other than in circumstances deemed appropriate by Channel 7.
</body></html>

jchancellor-FAypfDUnLy

House Rules' Candy and Ryan secure $190,000 Emu Plains sale flip success

<html><body>
Australian cricket captain Michael Clarke has yet to sell his Lilli Pilli house after there were no bids at today's auction.
There was $2.7 million plus price guidance from listing agent Matthew King for its McGrath auction. There was only a $2.7 million vendor bid. The McGrath website has it now for private treaty sale with $2.7 million plus suggestions. News Ltd reported the auction lasted just five minutes.
Clarke paid $2.87 million in 2006 and has renovated it since.
<table class="container" cellspacing="0" cellpadding="0"><tbody><tr>
<td valign="top" width="377px"><img class="image" src="https://media.mcgrath.com.au/webimages/properties/0/2/0/6/8/2/4/FB2126F3-AF3C-9715-8D30B0085F9BEB23_m.jpg" width="376" height="299"></td>
</tr></tbody></table>
Back in 2009 Clarke thought of quitting the Sutherland Shire but failed to achieve his then $3.4 million hopes.
<a href="https://www.mcgrath.com.au/buy/house-lilli-pilli-nsw-2229/206824/?searchID=41873569" target="_blank">The contemporary five-bedroom, four-bathroom split-level house</a> comes with pool, spa and boatshed on its 1670 square metre bushland riverfront block.
Earlier this year Clarke and wife, Kyly spent $8.3 million in Vaucluse.
</body></html>

No bid Michael Clarke Lilli Pilli home auction result

<html><body>
Taking on a substantial amount of debt can be concerning, and rightly so – the added responsibility and requirements mean that you need to ensure you can always service your repayments or fear losing your home.
All being said and done, you do not need to enter into home ownership blind.
Here are 10 things you can do to prepare yourself for the debt and responsibility ahead:
<ul>
<li>Find out what your repayments may be</li>
</ul>
If you’re still looking for a property, then get onto your bank’s calculator and estimate how much your repayments are going to be. Be honest with yourself about what you can afford and have a look at what you’ll be expected to pay.
Having a clear understanding of what owning a property means financially for you day in, day out is crucial.
<ul>
<li>Have a budget plan</li>
</ul>
Now that you are away of the amount of funds required for your repayments, you can work out a debt management plan (here’s a <a href="https://www.moneyhelp.org.au/tools-tips/budget-planner/debt-management-plan/" target="_blank">good tool from Money Help</a>), or a ‘budget’ that will ensure you can keep track of your outgoings. You may already have a good budget in place if you’ve been spending time saving for your deposit, so now you want to double check that it covers you enough.
<ul>
<li>Practice paying your mortgage</li>
</ul>
If you know how much your loan repayment is likely to be, and your budget plan, then it’s time for you to practice what it would be like to pay it each fortnight or month. For instance, if the amount you’ll be required to pay is $350 a week, and your rent is currently $300 a week, see how you handle putting aside the extra $50.
If you’re living with your parents and not paying rent, or paying far less than your upcoming repayments, this becomes even more critical.
Property Observer recommends factoring in other costs, such as strata fees and rates, so you can really see how you’ll handle those costs. Make it a habit before you even get your property. If it means you’ll never be able to eat out socially, and this is a nightmare for you, then you need to come up with a different plan. Remember, this is paying off the bare minimum – most people will want to pay off more.
<ul>
<li>Factor in a rate increase</li>
</ul>
You’ve practiced paying off your repayments as they’ll be when you own, but if you’re not on a fixed rather then you will need to ensure you can afford to keep paying in the event of a rate increase. Factor in up to an extra 2% on top of your current interest rate, and check whether or not this affects your ability to pay.
<ul>
<li>Ensure you know how much debt is too much</li>
</ul>
Now that you know how much you can personally afford to pay for your loan, and your own habits and ability to pay it on time and in the full amount, be honest with yourself. This is a personal situation, and will be a different answer for every prospective property buyer.
Ask yourself these four questions:
<ol>
<li>Can I afford to do this for the length of the loan term? 
</li>
<li>How can I stop myself from continuing any bad financial habits? 
</li>
<li>What is my “tipping point” (the amount where you stop being able to afford the repayments)? 
</li>
<li>What parts of my lifestyle, if any, am I willing to sacrifice to keep up with the repayments?</li>
</ol>
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
<ul>
<li>Familiarise yourself with what to do if you miss a payment</li>
</ul>
If you do miss a repayment or find yourself suddenly struggling with hardship, then there are certainly things you can do. <a href="/news/vic/victoria-s-mortgage-delinquency-on-the-rise-how-you-can-stay-above-water">Here’s some information to assist you with understanding what to do</a> if you get into this situation.
<ul>
<li>Get income protection and necessary insurances</li>
</ul>
Do not wait until you own the property to take out insurances on your income. If you fall sick and are unable to pay your mortgage and associated bills, you will find yourself struggling. Research and get the required insurances early in the piece.
<ul>
<li>Chat with a broker</li>
</ul>
Find yourself a good broker, and start talking about your options when it comes to mortgages and other home loan products. Understand what an offset account is, <a href="/expert-insights/finance/what-is-an-lvr-investment-terms-explained">what LVR means</a> and whether or not you’ll need LMI. You want to know <a href="/expert-insights/finance/top-10-tips-to-save-money-on-your-home-loan">how the frequency of repayments affects your overall loan</a>, any associated costs and the limits to the product you’re choosing. Here’s <a href="/expert-insights/finance/how-to-pick-the-best-mortgage-broker">how to pick the best mortgage broker to get you started</a>.
The more you know now, the better prepared you will be later on - make sure you understand the requirements of your loan product and exactly what you're signing up for.
<ul>
<li>Find out how other people are implicated</li>
</ul>
Yes, if you miss your mortgage repayments then you will be the one facing off against the lender. However, if you are sharing the repayments in a joint venture, have someone standing guarantor, or are buying on behalf of your family then it’s time to be honest with yourself.
How badly can things work out if you default? Could your parents lose their home? You need to prepare for the worst eventuality, and ensure those involved know that there is a possibility, even a small one, of this happening.
Be upfront, have the required paperwork, and understand expectations. For instance, in a joint venture where one person has stumped up the entire deposit, will you both be paying equal amounts of the mortgage? Do you own exactly equally? Answer these questions before you get to the property ownership stage.
<ul>
<li>Get your documents together</li>
</ul>
You’re going to need quite a few documents to apply for your home loan, and now is the time to get everything in order.
Read through the requirements with the lender of your choice, however the majority of the time you will need identification, proof of earning and details about the property itself.
Make sure you know that your credit record is clean. Make sure you <a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval">know what pre-approval is</a>, and that you understand its limitations.
You can read <a href="/expert-insights/buying/getting-your-first-loan-heres-what-you-need-to-know">Property Observer’s guide on getting your first loan here</a>.
</body></html>

jduke-EHk3XBmHkn

Preparing yourself for debt: 10 things to do now to make home ownership easier

<html><body>
Saving for a deposit - particularly on a single income - is a difficult task.
If you've cut back all you can but desperately want to purchase your own home, it can be done for less than you think.
A $25,000 home deposit may be tempting, but the reality is more difficult than it seems.
If you're only putting down $25,000 for your deposit, it's likely that you're only paying a 5% or 10% deposit, rather than the 10% to 20% that many people prefer.
Policies will change between lenders but if you're borrowing more than 80% of the value of your property, you'll most likely be required to pay Lenders Mortgage Insurance (LMI). LMI protects your lender against a loss if they sell your home after you default - essentially making up for the additional risk they take on when increasing the proportional value of your loan.
If you want to put down a small deposit, budget in your LMI payment. The two major LMI providers in Australia, <a href="https://www.genworth.com.au/borrower-centre/homebuyer-tools/lmi-premium-estimator/?gclid=CO2R6M2yprgCFQMwpAodTjQASA" target="_blank">Genworth</a> and QBE LMI, both offer calculators to help you budget in the additional cost. (For more on LMI, <a href="/expert-insights/investing/less-than-a-20-deposit-the-8-things-you-need-to-know-about-lenders-mortgage-insurance-lmi">see this article</a>.
While your LMI will most likely cost less than an additional 10% deposit, remember that you are not exchanging that sum for equity in your home - once your LMI payment is gone, it's gone forever - and you'll still have to pay that extra 10% you've dodged now to your lender later on (with interest).
Though buying a home with a $25,000 deposit now can speed up the home buying process, keep in mind the benefits of waiting until you're more financially secure before you purchase a home. It may be the case that <a href="/expert-insights/buying/the-10-signs-that-you-may-not-be-ready-to-buy">you're just not ready to purchase yet</a>.
And while it's probably the biggest financial hurdle you face in purchasing a home, the <a href="/news/vic/how-to-work-out-how-much-buying-a-home-costs">deposit isn't the only cost associated with buying a home</a>. 
But if you do have $25,000 in the bank that you're itching to invest, what can you buy? Assuming you need to pay a 10% deposit (and the bank will approve your loan), Property Observer has tracked down some bargain buys. For each of these homes, a first home buyer could expect to pay an additional $3,060 LMI premium, according to Genworth.
<ul>
<li><a href="https://www.realestate.com.au/property-house-qld-vincent-117792651" target="_blank">254 Palmerston Street, Vincent, QLD</a></li>
</ul>
<img src="/images/2014/08/29/palmerston%20aug%2029.jpg" alt="">
Vendors are accepting offers in the mid-$200,000s for this three bedroom Townsville Queenslander. The currently rented house is within walking distance of the Vincent primary school and shopping centre, and is set on a 731 square metre block.
<ul>
<li><a href="https://www.realestate.com.au/property-apartment-vic-carlton-117792195" target="_blank">523/800 Swanston Street Carlton Vic 3053</a></li>
</ul>
<img src="/images/2014/08/29/carlton%20aug%2029.jpg" alt="">
If you want something close to an urban centre, this one bedroom apartment in Melbourne's inner city is on the market for $180,000 plus. Tenanted until February next year at a 9.3% yield ($1,439 per month), the apartment is a ten minute walk to the CBD. However, it's micro sized, with only 32 square metres of floor space.
<ul>
<li><a href="https://www.realestate.com.au/property-apartment-wa-east+perth-117538663" target="_blank">22/45 Adelaide Terrace East Perth WA 6004</a></li>
</ul>
<img src="/images/2014/08/29/east%20perth%20aug%2029.jpg" alt="">
Another snug apartment is on offer in East Perth, with an asking price of $245,000. The 33 square metre studio apartment is currently rented out at $320 per week.
<ul>
<li><a href="https://www.realestate.com.au/property-house-nsw-scone-114888183" target="_blank">37 Scott Street Scone NSW 2337</a></li>
</ul>
<img src="/images/2014/08/29/scone%20aug%2029%20one.jpg" alt="">
This two bedroom weatherboard house in the Hunter Valley comes with a price guidance of $230,000. Set on a quarter acre block (1,012 square metres), the house has a lounge room with a separate dining area that could be converted to a third bedroom.
</body></html>

jrichardson-uRX5hFdKfN

What can you buy with a $25,000 deposit? 

<html><body>
If you're about to start your search for your first home, don't worry.
All that stands between you and your first dwelling of your own is figuring out a budget, getting loan approval, determining the best area for your lifestyle and investment ambitions, the other buyers and the price negotiation process. Oh, and plenty of open home inspections.
Thankfully, the open home inspection is the most fun part of the process. This is the part where you get to explore someone else's home (never underestimate how satisfying a good stickybeak can be) and imagine your own future. That shelf full of cookbooks - wouldn't it look good with the cabinet you inherited from your grandmother? And that rug is ugly, but you spotted a really great one last weekend. And that mantle would be terrific for all your travel photos.
Before you know it, you've gotten carried away. And on the drive home, you suddenly can't remember exactly how big that second bedroom was, whether there were tiles or lino in the kitchen, or how high the ceilings were.
It pays to be prepared for an open home inspection. Here's Property Observer's step by step guide to attending an open home.
<ul>
<li>Prepare a checklist </li>
</ul>
Before you head off, prepare a checklist of things to look for at the open for inspection. There will be vital aspects of the home are things you're not willing to budge on - this could include the minimum number of bedrooms, the size of the backyard, a double garage, or a separate laundry. 
Your negotiable items are ones that you're curious about but aren't dealbreakers. Is the home close to a school? In the shadow of an industrial plant? Can your neighbours see into the property? 
Finally, there are aspects that might seem superficial at first but could really make a difference down the track - things like ceiling height, aspect and natural light, layout and floor materials are all important, as are noise levels. 
By preparing a checklist before you step foot in a property, you'll allow yourself to take out some of the emotion of inspecting a home. 
If making your own checklist seems daunting, <a href="https://advice.realestateview.com.au/buying-investing/ultimate-first-home-buyers-guide/12/" target="_blank" style="line-height: 1.3em;">check out this one from realestateVIEW</a> - it'll be particularly handy for keeping your homes straight when you have a few under your belt.
<ul>
<li>Gather your things</li>
</ul>
In addition to your checklist, bring along a copy of the listing, with any particular points marked out that need further following up with the agent.  A suburb report with median prices might be handy if you're neighbourhood hopping, and your ID is often required by the agent. 
Bring along a camera (your smartphone will do) to help jog your memory later on and a tape measure, with a pen and pad (or phone) to take notes on, are also very handy on the day. 
Even if you have good spacial awareness, take along the floorplan - it's much easier to walk through a home with one eye on the floor plan than it is to look over the floor plan and try to recall how each room fits plan later on.
<ul>
<li>Stickybeak around the street</li>
</ul>
Remember, you're not just hoping to buy a home in a vacuum. You're buying a house on a particular street in a particular suburb. If you have time, build in 15 minutes before the open home to take a walk down the street and through the main strip of your potential new neighbourhood. 
The suburb cruise can be more illuminating than you might think. If you want to buy into a suburb with a good school or great cafes, try taking a walk between your prospective home and those areas. If your child will have to traipse through a poorly lit park to get home, the house's location might not be as good as it first seemed.
If there's no secure parking on the property, check out the street - is there plenty of room for you to park your car? Does the street look well lit and secure?
Article continues on the next page. Please click below. 
<hr class="system-pagebreak">
<ul>
<li>The outside</li>
</ul>
While street appeal isn't everything, check out the exterior of the property and the landscaping. If there's a spectacular garden, keep in mind that you'll need to maintain it once its in your possession. 
Think about what's appropriate for your family - if you have young children or pets, you will have to keep fencing in mind, for safety and privacy.
Keep an eye out for any rotting wooden cladding or peeling paint as well - fixing those problems up will cost you money down the line.
<ul>
<li>Speak to the agent</li>
</ul>
While you don't want to seem too peachy keen, it's often good to have a quick chat to the agent so you're on their radar. They'll take your name and number and will often want to see your ID as well.
<ul>
<li>Kitchens</li>
</ul>
The heart of the home and one of the more expensive areas to make improvements to down the line, the kitchen is an important area to check out. Some important things to take note of:
<ol>
<li>Materials: Splashbacks, benchtops and flooring - make sure it's easy to maintain and suits your personal style.</li>
<li>Layout: If you have a big family or entertain often, a small galley kitchen might not cut it. Make sure there's enough space for your fridge (with plenty of room to swing the door open).</li>
<li>Cooktops and ovens: Keep in mind that electricity is more expensive than gas.</li>
<li>Dishwashers: Is there an existing dishwasher, or room for one if you need it down the line?</li>
<li>Storage solutions: Make sure there's enough room for all your pots, pans, plates and plastic tupperware.</li>
<li>Rangehoods and fans: Check out the noise level and efficacy of the rangehood - more importantly, make sure there's a rangehood in the first place. They're difficult and sometimes impossible to install retrospectively.</li>
</ol>
<ul>
<li>Bathrooms</li>
</ul>
Another expensive area of the home to re-do, bathrooms are worth getting right. 
Make sure there are enough bathrooms in the house (particularly if you have a growing family) and decide whether it's important to have a toilet that's separate to the main bathroom. 
Tiles should be easy to clean, and a bath is pretty vital if you're planning to have young kids. The bathroom should be well ventilated (check the fan - without good ventilation, hazardous mould can grow quickly) and have enough storage space and power points.
If there's no separate laundry, your washing machine will need to go in the bathroom. Make sure there are washing machine taps, room for a dryer if you use one, enough space for your washing machine and an adequate sink.
<ul>
<li>Living and dining areas</li>
</ul>
Check the layout of your living and dining areas - is it open plan? If you have children, could you watch them play in the living room from the kitchen or your workspace? 
Look for power points, phone cables or ports for internet connection and television connections, and make sure you'll be able to figure out a tidy and space efficient way to arrange your furniture and entertainment devices.
Also keep heating and cooling in mind - is there a simple reverse cycle air conditioning unit in the living room? Think about whether this will cut it in the height of summer or the middle of winter, particularly given the building materials and level of light in the home.
<ul>
<li>Bedrooms</li>
</ul>
Keep an eye out for outlets, layout and size and lighting. Think about how you use your bedroom. Is there enough storage space for your clothes? If you needed to get another storage unit for new clothes or your partner is moving in with you for the first time, will there be enough room then? Is there adequate light if you like to work in your bedroom, and room for a desk?
For children's bedrooms, make sure they're easy to clean and close to your room, particularly if you have very young children that you may need to attend to during the night. Check the windows on your bedrooms to make sure they're easy to open and secure.
<ul>
<li>Garage spaces</li>
</ul>
One person's "secure parking" is another person's "tiny backyard with barn-style gate that opens on to an alley". If you have a vehicle which you need to keep secure, make sure there's adequate garage space - wide enough for your car, with a working door and enough space for your tools, bikes or workbenches.
<ul>
<li>On your way out</li>
</ul>
Make a note of any discrepancies between the home and the listing information, and be sure to raise them with the agent, either at the inspection or later on the phone. Thank the agent, and make sure you have his details to contact him later.
<ul>
<li>Back home</li>
</ul>
Don't think all the work is done once you've returned from the open inspection. If it seems like the property is a serious prospect, go back over the notes you've made and highlight any questions you want to ask the agent or a building inspector. 
If that seems like a lot of work for a house that you might not be interested in, think again. Even if the house is off your radar, keep an eye on it and how much it sells for eventually - every open home you go to will give you a better idea of the market which holds your future home.
</body></html>

Step by step guide to attending an open home

<html><body>
Victorian first time home buyers will pay less stamp duty for homes from 1 September.
The reduction in duty has become increasingly attractive - initially, 20% was reduced on 1 July 2011, followed by 10% on 1 January 2013, 10% on 1 July 2013 and the upcoming 10% on next Monday, 1 September 2014.
It is available for new or established home purchases.
<img src="/images/2014/08/29/vic-fhb-aug-29-one.jpg" alt="" style="line-height: 1.3em;">
Stamp duty concessions across the country are on the next page. Please click below.
<hr class="system-pagebreak">
Here’s the table that clears up what concessions are available (click to open in new window):
<a href="/images/2014/08/28/stamp%20duty%20chart%20aug%2028%20one.png" target="_blank"><img src="/images/2014/08/28/stamp%20duty%20chart%20aug%2028%20one.png" alt=""></a>
Source: State Revenue Offices/HIA
</body></html>

Further stamp duty reduction for Victorian first home buyers

<html><body>
Greenland, the newly arrived Chinese property giant have been embarrassed by accidental marketing that suggests they are yet to know Sydney like the back of their hand.
<a href="https://lucentnorthsydney.com.au/Location/" target="_blank">The map selling the location of their Lucent, North Sydney project</a> (pictured above) being marketed by CBRE was skewiff, until the errors were highlighted by Property Observer.
<img src="/images/2014/08/28/map-aug-28-one.jpg" alt="">
For instance:
<ul>
<li>The North Sydney swimming pool (6) is on the wrong side of the harbour on Pitt Street.</li>
<li>Martin Place (22) is at what we know as the Opera House.</li>
<li>Getting a drink at the Opera Bar (18) is over on the lower north shore.</li>
<li>Luna Park (4) isn't on the harbour anymore, but the MCA (23) is, though across the bridge not far from the relocated The Rocks (20) and Pitt Street Mall (19).</li>
<li>Mirvac/Eureka's Greenwood Plaza (11) is on Circular Quay! </li>
<li>
Not sure what 24 onwards are. Gremlins presumably.
</li>
</ul>
The $200 million Lucent development from Greenland Holding Group includes one, two and three bedroom apartments priced from $528,000.
The sales spiel says Lucent is perfectly placed to make the most of Sydney's world-famous lifestyle. 
In March last year, I wrote the arrival of the Chinese-based Greenland to Australian shores was an <a href="/news/nsw/chinese-breathing-competitive-life-into-sydney-high-rise-scene">auspicious occasion</a> with their plans for building Sydney's tallest residential highrise on the former Water Board site in the CBD.
As they reach for the sky, perhaps they need a better compass at ground level.
</body></html>

Greenland's embarrassingly skewiff Sydney sales map 

<html><body>
Understandably, anything that costs first time buyers above and beyond their initial deposit is going to be a source of frustration.
Add to this <a href="/expert-insights/finance/how-much-stamp-duty-is-typical-and-how-much-does-this-add-to-your-mortgage">the current revelations about stamp duty</a> and it’s not surprising that having enough to pay this tax is also a consideration.
So, is there a concession if your buying your first home?
Unfortunately, not for all of you. Here’s the table that clears up what concessions are available (click to open in new window):
<a href="/images/2014/08/28/stamp%20duty%20chart%20aug%2028%20one.png" target="_blank"><img src="/images/2014/08/28/stamp%20duty%20chart%20aug%2028%20one.png" alt=""></a>
Source: State Revenue Offices/HIA
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/buying/what-does-a-home-really-cost-for-a-first-time-buyer">What does a home really cost for a first time buyer?</a>
<a href="/expert-insights/investing/couples-save-for-just-over-four-years-for-first-home-deposit">Couples save for just over four years for first home deposit</a>
<a href="/news/saving-that-extra-20-000-is-the-drag-causing-first-home-buyer-slump">Saving that extra $20,000 is the drag causing first home buyer slump</a>
<a href="/expert-insights/mastering-your-deposit-tips-to-boost-your-savings">Mastering your deposit: Tips to boost your savings</a>
</body></html>

Where do first home buyers get a stamp duty concession?

<html><body>
Wharf's Entrance will be the latest residential project marking Mirvac's westward journey along the southern bank of the Yarra River.
Due to begin construction in 2015, the four-hectare Wharf's Entrance site will comprise 246 residences, anchored by Forge, a 30 level apartment tower.
In addition to Forge's 228 apartments, seven Cargo home offices will be on offer, along with 11 Wharfside Residences - up market riverfront homes.
Wharf's Entrance is the fourth chapter of Mirvac's decade-long southside story, which began with the five tower Marina Precinct. Then came the Park Precinct, with the Yarra Point and Array towers, the second of which is still under construction, followed by the 82-home River Precinct.
“Wharf’s Entrance is the final piece of the puzzle at Yarra’s Edge and will cement the precinct as Melbourne’s premier waterfront living community,” said group executive residential for Mirvac, John Carfi.
“What we have created over the past 15 years is a neighbourhood of 2,500 people that values great design and embraces a lifestyle by the water, much like the world’s greatest cities do,” he said.
“We expect that as Wharf’s Entrance is the final offering in this community, demand for the final stage will be high.”
<img src="/images/2014/08/28/photo4.JPG" alt="">
Mirvac's mark on the Yarra. 
In total, the seven towers and River Precinct homes make up 1,244 residences, with 2,500 residents. When Wharf's Entrance is completed, there will be 1,490 Mirvac residences on the Yarra.
Delivering a community the size of a substantial regional town is a responsibility Mirvac design director Michael Wiener takes seriously. With Wharf's Edge, he worked to expand the diversity of apartments on offer, with standard small one bedroom apartments sharing a tower with larger "warehouse style" studio residences.
Following heavy public criticism of Melbourne's <a href="/expert-insights/buying/new-melbourne-suburbs-come-with-big-promises-but-will-the-infrastructure-eventuate">"soulless" Docklands precinct</a>, Mirvac is tasked with creating residences that interact with the public and respond to the city's culture. To this end, Weiner has worked with materials that speak to Wharf's Entrance history, including recycled timber "totems" on the exterior. The lobby will feature a nod to the project's geography, with a fish tank populated with native "pre-contact" Yarra fish and flora.
The Forge tower will have winter gardens scattered over the northern city-facing side, with the smaller south facing apartments all including winter gardens. The apartments range in size from 50 square metres to 150 square metres.
Wharf's Entrance will also include a communal recreation facility at the base of the Forge tower, with a pool, gym and cafe open to the public. The Wharf's Landing sound garden will allow children to play with chimes, gongs and bells.
The Wharfside Residences, with four-bedrooms across four levels, range from 332 square metres to 493 square metres, including the balcony. They also include personal lifts.
Cargo Home, their home office design, will cover three levels with either three or four bedrooms and will range from 275 square metres to 354 square metres.
Carfi said the company was "thinking from a pedestrian perspective".
"When you think about Melbourne, you think about livability and 'walkability'," he said.
Mirvac will begin marketing Wharf's Entrance residences next month, with a schedule that includes so-called "tower hoppers" (repeat buyers), local buyers and offshore buyers, who represent about 30% of the Yarra's Edge customer base.
</body></html>

Mirvac continues westward along the Yarra with Wharf's Entrance

<html><body>
Spring auction numbers are emerging in both Sydney and Melbourne, but the small spike is no serious test yet.
APM has around 570 scheduled listings this weekend in Sydney, up from the 430 last weekend.
In Melbourne there are 715 offerings, up from 646 last weekend.
Then the early September weekends will see around 520 and 520 offerings in Sydney.
It's about 700 and 800 auctions per weekend in Melbourne over the first two weeks.
Neither city is showing signs of listings surging well in excess of last spring's volumes.
The Sydney estate agent John McGrath told the Australian Financial Review he did not expect the market to change much in spring and summer, after it showed strength over winter.
“The indicators remain positive, with record-low interest rates, a solid economic growth cycle in play and renewed demand from both local investors and overseas buyers,” Mr McGrath said.
“I believe this market has at least two years left in its growth cycle before we see a plateauing.” 
However, McGrath said Sydney’s current rate of growth would moderate.
It would likely settle back at a more sustainable 5% to 10% per annum over the next two years, he suggested.
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News