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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When it comes to purchasing a home, everybody wants a bargain - especially first home buyers.
If your "dream suburb" is now a dot on the horizon and you can't tighten your belt any further, it might be time to get creative.
The term "below market value" has a pretty stretchy definition and depends entirely on what people think a property should be worth - whether that person is a valuer, a lender, the vendor, or you. If you're hoping to buy a property "below market value", you're probably actually just after a home than what's expected for a property of that quality in that area, or for a lower price than you might have gotten it earlier. 
Under certain circumstances neither of those situations is desirable. If you're getting a property cheaper than any other on the street because it's falling apart, or because a new set of apartments is about to go up next door, you might be in for a dud. Similarly, if prices have fallen in a suburb over the past year, it might be because demand is falling away and unlikely to recover in the future.
Investors, owner occupiers and buyer's agents all have their own tricks for buying a property below what you would expect. They might keep an eye out for discounted homes, mortgagee sales, or off-market opportunities.  But before you snap up the next house in receivership you see online, or convince yourself that the dilapidated shack for sale is a below market value bargain, beware: sometimes it can be hard <a href="/expert-insights/investing/how-to-find-property-bargains-and-not-lemons-in-the-current-market">telling a bargain from a lemon</a>. 
If you want to buy a property "below market value", make sure it's still good value. Here are some strategies used to get a home for less than you'd expect.
<ol>
<li>
Mortgagee sales A mortgagee sale occurs when a property is possessed by a lender after the borrower can't repay their debts. If you head to a mortgagee auction, chances are you're buying a property that the bank wants off it's hands. However, that's no guarantee that you'll get a bargain basement price for the property. While the lender would probably prefer not to hold the property, they're also attempting to recover the money owned to them during the sale, and have an obligation to the defaulting borrower to sell their property at a fair value. However, a mortgagee sale can still sometimes provide good opportunity for bargain hunters. As Brad Caldwell-Eyles writes, most mortgagees will steer clear of fancy marketing strategies when selling a property, opting instead for straight shooting listing information - which might just mean it gets passed over by your competitors. 
</li>
<li>
Distressed sellers and deceased estates A "distressed seller" is exactly what it sounds like - a seller that has some sort of extra motivation to sell due to life circumstances. They could be ill, in financial trouble or leaving the country, and willing to sell their property at a loss, which is good news for you. For distressed sellers, time usually has a high dollar value, which you can use to your advantage. Sellers are under no obligation to advertised that they are "distressed", so if they are, it may mean they are particularly desperate to get rid of a property. Similarly, some executors are more interested in getting a property out of their hair than making money. Perhaps they can't afford ongoing advertising fees, or would just like to move on with their lives. Some websites, such as National Mortgagee and Deceased Estate Data, list only properties that are on the market from mortgagees, distressed sellers or housing authorities. Beware "discount" homes that have been languishing on the market. While you might find a property that's had its price cut by 70% since listing and has stood on the market for three years, it could be because the agent isn't doing their job and you've spotted an under-marketed gem. Or you could be getting sucked in by a property with an initial listing price triple what it deserves, that nobody else is touching because it's a dud investment. Proceed with caution. 
</li>
<li>
Spot the faults While searching for a home, you should always be on the lookout for any flaws or faults. Not only will it save you for buying a dud, but it could help you bring down the overall cost of the property. If you can get to the negotiation phase of a sale armed with a builder's inspection or a pest inspection document that shows the property is less than ideal, you could use those flaws to your advantage. This is also your opportunity to get creative. If there's a pile of rubbish on the property that the elderly seller has promised to get rid of before the settlement date, you could agree to take the property with the rubbish, with the cost of labour cut out of the sales price. Your elderly seller might have just saved themselves the trouble of organising labourers, and you've just exchanged some money for an afternoon of your time. Of course, it almost goes without saying - don't romanticise property problems. If you think you can use the leaky roof to negotiate down the sales price of your purchase, think first: do you really want a house with a leaky roof? Fixing problems down the line can often be more expensive than you anticipate at first, so only purchase if you're sure you can handle making improvements. 
</li>
<li>
Negotiate your terms There are two major aspects to a sale - the price and the agreed terms. If you make the terms good enough for your vendor, they may just be willing to move on the cost. For example, if you know your vendor is under time constraints and just wants to get rid of the property, getting in before the auction date and cutting the settlement time or waiving your cooling off period could be very valuable. Not only do such moves help your hurried vendor, but they also signal to the agent that you're confident and ready to make a purchase. To some, a first home buyer in the hand is worth more than 10 at auction next month.</li>
</ol>
Buying any first home is difficult, but buying a decent investment for a cheap price is even harder. Remember, a sale isn't all about you - it's about the seller, too. Keep them in mind and you could be securing a great home for less than you expect.
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First home buyer how to: Buying a property below market value

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Buying a home is tough work for those doing it for the first time, and with low numbers of first home buyers being reported it’s not surprising that many think it’s beyond their grasp.
To provide readers some inspiration, Property Observer will regularly be sharing stories of first time property buyers, and discussing their motivations. If you want to be involved, email <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>.
Our first new buyer is 25 year old Rhys Roberts. Employed full-time in human resources with the state government in Tasmania, he disclosed that his salary is $70,000 a year.
Last year, he purchased a house in <a href="/news">Lindisfarne</a>, Tasmania for $340,000 with an 80% LVR. Lindisfarne has a median house price of $370,000, and rental income just shy of $350 per week, according to RP Data. It's a 10 to 15 minute drive to Hobart.
THE PROPERTY
Lindisfarne, Tasmania
<img src="/images/2014/08/08/image1.jpg" alt="">
PURCHASE PRICE: $340,000
LVR: 80%
He describes the property as built over two levels, with the top level including two-bedrooms and one bathroom, and a kitchen. The kitchen and bathroom had both been renovated six months before purchase; however, the bottom level was unfinished with dirt floors and exposed concrete, including existing rooms that has been used as a laundry and a workshop.
<img src="/images/2014/08/08/Floorplan%20-%2012%20Sunnyside.jpg" alt="">
Part of purchasing this property was renovating it. Roberts notes that to date the costs have been minimal as an outlay for fixing it up, and with the help of his father to cut down labour costs they have done most of the preparation for the unfinished rooms downstairs. The costs, including planning, which involves an architect, engineer and draftsmen, total $4,500 at present.
When asked to project the costs to complete the renovation of the property, he admitted this was a little tricker.
"Initially, the renovation encompassed turning the existing rooms on the bottom level into usable spaces,” he said. However, very recently he has taken the decision to expand the project and include an extension from the back of the house.
He noted this was due to previously unidentified issues, but said that his hopes were for additional equity to be unlocked by adding this part to the project. While his initial cost project for the renovation were at $25,000, the extension as pushed this up to somewhere between $60,000 and $70,000, yet to be finalised.
<blockquote>
"When I was buying my first property, I found that there was a huge amount of information out there, but very little aimed at a novice."
</blockquote>
The initial plans included an added bedroom and bathroom downstairs and a cosmetic fix. The new extension will be another bedroom and bathroom in the extension, a deck at the back of the house, a study/gym and large laundry/storage room in one of the pre-existing rooms.
“As this was my first property it was important to get it right,” Roberts explained of his investment strategy for the property.
“So while it had to have good capital growth prospects, the Tasmanian property market had been slow and showed little signs of picking up in the short [to] medium term. Therefore, the most important aspect was the ability to create equity through a renovation,” he said. This equity would then help fund future investments.
Q&amp;A with Rhys on the next page. Please click below.
<hr class="system-pagebreak">
Property Observer asked Rhys Roberts some questions about his thoughts on investing, property and why he bought in the first place.
Where did your interest in property come from? 
Basically from my parents. They had held rental properties in the past, and as Dad was a builder they had built or renovated properties throughout my childhood.
How have you educated yourself about property? 
In my late teens I started to develop a keener interest in property (which stemmed from my first real job, and the realisation that I didn’t want to work for someone my whole life!). I read as many books and articles as I could get my hands on, and this continued into my early twenties, by which stage I began saving for my first property. At the time I bought it I thought I was pretty knowledgeable with property, but the buying process just highlighted how little I really knew. It was from there that I dug deeper and started reaching out to other likeminded people.
What was the journey to finding your first property? 
I’d describe it as “long” (well it seemed it to me!). I first became serious about buying a property at 20, but at the time I was at University and working part-time, so saving was fairly difficult. At around 22 I decided to hit the saving hard, and I was lucky to have a pretty well-paying job and few expenses, so I could save up quickly. Looking back at it now, it only took around 3 years of serious saving to achieve a deposit, which in the scheme of things isn’t long, but at the time it seemed like forever!
As for finding the right place… once I was ready financially, it took around 6 months to find the one. I was pretty set on what I wanted, though. I knew that given the market in Tasmania was going nowhere fast, I had to create equity in another way. I didn’t have the capital to undertake a development (and the risk was too high for a first home buyer), so a renovation was the chosen method! It can be pretty disheartening looking at property after property, but in the end it was worth it, as the perfect property eventually came up.
What has been your biggest pitfall and your biggest highlight in property to date? 
Biggest pitfall is the same as any first home buyer: lack of experience. There’s some things that research just can’t compensate for, especially given the depth and complexity of most property info out there. I’ve made mistakes, numerous ones in fact, but none of them have been disastrous, and I’ve learnt invaluable lessons from them.
Given that I don’t have a shiny portfolio property to brag about, I’d say my biggest highlight in property has simply been sticking to my goals and finding the perfect property. It would have been a lot easier to go with a 95% lend and buy a normal house, but I knew that wouldn’t get me where I wanted to be. Also, it’s not easy to be a first home buyer these days. Prices can be a barrier depending on where you live, and Gen Y have different priorities these days. When your friends are out partying and travelling the world, it can be tough to be working and saving… but I know it will pay off in the long run.
Have you had any hiccups in the renovation process so far?
The biggest hiccup was when I found out I couldn’t renovate on the bottom level to the extent I wanted. There were issues with the foundations that would have required a very expensive solution to fix if I wanted to continue with the original plan. The issues weren’t picked up by three builders, an architect or a draftsman, so they came as a surprise when the structural engineer identified them. Moral of the story is to involve the experts as soon as possible. Even if it costs a few hundred dollars to get someone along to give an opinion, it will pay off in the long run.
<blockquote>
The Tasmanian property market had been slow, therefore the most important aspect was that he was able to to create equity through renovation.
</blockquote>
In the end, however, it will work out better than previously. The renovation will work out better financially (and that’s the only result that matters to me), even if it takes a little longer. The number one thing I’ve learnt so far, and from my parents, is that you have to be flexible, able to problem solve quickly, and have endless amounts of determination and persistence.
What is the financial plan at the end of the renovation? 
I sincerely hope to never a sell a property I buy, as I don’t see the point. Property is a long-term investment, and barring a true property dud, selling negates future growth opportunities.
Once the renovation is complete I will achieve around $100,000 in equity. This is enough to give me options, which is the name of the game!
Would you renovate again? 
Definitely reno again. In fact, I aim to reno all investment properties I own. Even if it’s just a pure rental, a cheap and quick reno can add $10 or $20 onto the weekly rent, which adds up over the long-term.
What is the vision for the end of your property investing? 
My end goal is to be completely financially independent by 40. I classify ‘financially independent’ as never having to work another day in my life for another person, unless I choose to. I don’t like to use the word retire, as I’ll hardly be sitting on a beach for the rest of my life. There is a very long list of things I want to achieve!
As for specifics… My goal is for $1.5 million in net assets that are wholly income producing. Given likely returns this will be enough to give me a very comfortable yearly income to live off. To achieve this in 10-15 years I estimate I will need around $6 million in total assets by then. These figures will be adjusted all the time, though. I expect that by the time I get close to it, my goals will have completely changed!
What is your back up plan for if things go wrong? 
All of my investment properties will be under a discretionary trust and/or company arrangement (yet to be determined). In addition to this, I aim to always hold my first property in my name. Given the asset protection given by company and discretionary trusts, if everything were to go completely pear shaped, I would still have a property and my job to fall back on. Where possible, however, I aim to have an 80% LVR for all properties, as this provides a significant buffer, and also assists in keeping in the good books with lenders.
What advice do you have for other first timers?
Know what you want, and then work out the best way to get there. So many first home buyers rush into what is going to be the biggest financial decision of their lives so far (by a big stretch). Take the time to work out why you want to buy, because unless you know that, you’re opening yourself up for trouble. Maybe you’ll reach the conclusion that buying isn’t right for you, that renting suits your lifestyle needs better, and that’s fantastic! Decide what it is you want most, and pursue it with everything you’ve got.
It sounds like an intense plan, and Property Observer is keen to see how it pans out.
In the meantime, Roberts started up a site called <a href="https://www.thepropertydream.com" target="_blank">The Property Dream</a> to share information he had found and chat with other likeminded young investors.
“When I was buying my first property, I found that there was a huge amount of information out there, but very little aimed at a novice, and none that covered the buying process from start to finish for first home buyers,” he said.
“There were some resources that were close, but they always involved payment of some sort, and I think that such information should be freely available. It’s not a state secret, it’s basic information that everyone should know.”
He explains that given time he’d like to see a community of new buyers using the site, and sharing their own thoughts and information.
Are you a new buyer that would like to be profiled, or know someone who should be? Email <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

My first property, a renovation and what I learnt: Rhys Roberts

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PARTNER CONTENT
With a lot of the focus recently being on the growth within Sydney and Melbourne, Brisbane is sometimes overlooked as a location to purchase; both as an investment and as somewhere to live. We receive a lot of market commentary, and have compiled some of it here to answer the question of why Brisbane, and why now?
Looking at some underlying drivers of growth, the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/Ausstats/abs@.nsf/mf/3218.0" target="_blank">Australian Bureau of Statistics</a> shows that population growth to 2013 for Queensland sits at 1.9%, which is above NSW at 1.4% and on par with Victoria.
On a side-note, despite this growth in the southern states, approvals for private sector houses fell nationally, but have actually risen in Queensland on average by 0.3%.
With the Queensland economy showing strong signs of life, bolstered by regional centres recording growth, the state government has identified $134.2 billion of infrastructure investment to occur in Brisbane over the coming years as a part of their statewide infrastructure plan.
This investment, amongst other things, is starting to pay off with Brisbane now appearing on <a href="https://monocle.com/film/affairs/quality-of-life-survey-2014/" target="_blank">Monocle’s</a> worldwide ‘Quality of Life’ survey for 2014. This survey measures a city’s intangible aspects, beyond simply the infrastructure that keeps it going. Melbourne and Sydney have been solid contenders over the years, however of note is that Brisbane appeared for the first time this year in the top 25 list.
<a href="https://www.rpdata.com/research/monthly_indices" target="_blank">RP Data</a> shows the southern cities experiencing growth over 10% in the past 12 months to July 2014, with Brisbane coming in at a strong 6.9%. This growth in the Sunshine state is tipped to increase in the coming months; with Brisbane being identified as only being at the beginning of its upward movement in its property cycle. <a href="https://www.bis.com.au/verve/_resources/Rel_RPP14_FINAL.pdf" target="_blank">BIS Shrapnel</a> states that the strongest growth over the next three years is forecast for the Brisbane market, where affordability has improved significantly after weak price performance in recent years.
The southern markets are also currently presenting a potential barrier to entry for buyers in the form of median house values, being $838,000 and $711,000 for Sydney and Melbourne respectively. <a href="https://www.rpdata.com/research/monthly_indices" target="_blank">RP Data</a> shows Brisbane as having a more affordable $496,000, or $399,000 for units, which would purchase a new two bedroom apartment 7 kilometres from the Brisbane CBD.
This combination of lifestyle choice, anticipated growth, improving infrastructure and price point has led investors looking north for the high yields and future growth potential. Owner-occupiers are also looking to Queensland along similar lines, and are looking to take advantage of the $15,000 Great Start Grant and the transfer duty discount for first homes.
With Queensland taking its place on the world stage with the upcoming G20 meetings and the next Commonwealth Games, Brisbane presents as ripe for investment and with the low property prices first home buyers are finding it easier to get onto the property ladder in the rising market.
ANDREW HERBERT is partner of <a href="https://myfirstplace.com.au/Property-Observer" target="_blank">My First Place</a>.
My First Place is offering a buyers club to support buyers in finding their property. For First Home Buyers there’s a package worth $4,200 that covers solicitor fees, mortgage application fees, building inspection, insurance and utilities. For investors the package is worth $3,350 and it covers solicitor fees, mortgage application fees, building inspection, landlord insurance and a depreciation schedule.
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Why Brisbane, why now?

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Further sales were secured in the Parramatta apartment project Promenade through Savills Residential Projects.
It has sold 115 of the 153 apartments in building three at Promenade, a five hectare site which is being developed by Starryland Australia, the local arm of the giant Chinese property group, Fuxing Huiyu Real Estate Company Ltd.
Prices ranged from $440,000, for a one-bedroom apartment. 
The apartments in building three comprised: 
<ul>
<li>(6)  one-bedrooms (44 – 49 square metres) from $440,000</li>
<li>(17) one-bedrooms plus study (46 – 69 square metre) from $465,000 </li>
<li>(125) two-bedrooms (63 – 98 square metres) from $585,000, and</li>
<li>(5) three-bedrooms (83 – 112 square metres) from $850,000</li>
</ul>
Fewer than 40 apartments remain for sale.
Buyers, who registered their interest with a $3,000 refundable deposit, were invited to attend the launch last Saturday morning.
Irene Lau, from Savills Residential Projects, said more than 70% of purchasers were owner-occupiers.  Promenade‘s initial two buildings of 124 apartments sold out over one weekend in May. 
 Both buildings are currently under construction with completion in late 2016.
Located in Morton Street just 1.2 kilometres east of the city centre, Promenade will have 1.2 hectares of landscaped foreshore open space, a proposed pedestrian bridge across the river and an extensive walking and cycling network.  James Swete, the sales and marketing director of Starryland Australia, said Promenade would provide resort-style living. 
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Starryland secure further Promenade, Parramatta apartment sales

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The final level of Array, Mirvac’s Yarra’s Edge development, has been poured. It’s 40 metres high, and will see a crown mounted on the top, intending to become a Flinders Street skyline icon.
Residents’ settlement in the Yarra’s Edge development is currently expected for early-2015, with Mirvac group executive, residential John Carfi noting that this is a construction milestone for <a href="https://www.arraybymirvac.com/arrays-waterfront-homes" target="_blank">Array</a>.
<img src="/images/2014/08/08/Array_V20_Penthouse_360View.jpg" alt="">
“It has been encouraging to see such strong interest from purchasers, especially from our repeat purchasers at Yarra’s Edge. This is a real vote of confidence in the product and what Array stands for – luxury waterfront living,” Carfi said.
Array includes one, two, three and four bedroom offerings, and includes twin multi-level penthouses. It is eight metres from the water.
Another stage is also expected at Yarra’s Edge with the launch of 18 new strata-free homes, and a new residential tower that Carfi calls flexible and innovative.
By February last year, <a href="/expert-insights/buying/half-of-apartments-in-mirvac-s-array-development-in-docklands-sold">over half of the 205 apartments in the development had been sold</a>. Prices spanned $520,000 for a one-bedroom apartment to $7 million for a penthouse.
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Mirvac’s Array, Yarra’s Edge final level under construction

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Former couple and House Rules contestants Candy and Ryan have put their Emu Plains home on the market.
The home at <a href="https://www.realestate.com.au/property-house-nsw-emu+plains-117619615" target="_blank">45 Gough Street, Emu Plains</a>, is selling through Paul Wallace of Property Central Penrith. It will be auctioned on Saturday 30 August.
The three bedroom house was the debut renovation of the show, and the victim of some dubious style choices - including winners Adam and Lisa's incomplete study and unappealing entrance.
The listing photos show Western Australia couple Russell and Carole's challenge-winning kitchen. They ended up in second place for the series, <a href="/expert-insights/building/underdogs-adam-and-lisa-win-house-rules-season-two">behind underdogs Adam and Lisa</a>.
The single storey brick veneer home has a two bathrooms and is set on a 626 square metre plot.
The listing information says the home has been "renovated to the highest possible standards". The house is filled with colour, thanks to Candy and Ryan's fellow team mates.
<img src="/images/2014/08/08/house%20rules.jpg" alt="">
Above: Candy and Ryan's unrenovated home in 2013. Below: Their home now.
<img src="/images/2014/08/08/2.jpg" alt="">
Candy and Ryan purchased the home for $400,000 in August 2013. Selling agent Wallace is not providing a price guide for the property.
The house has been listed following the couple's breakup.
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Candy and Ryan's House Rules home on the market

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There are 1,726 auctions scheduled across Australia this week.
In capital cities there are 1,372 auctions expected compared to 1,441 for the same period last year. Based on previous years, this annual period typified by low auction volumes should be over by the end of the month.
The national clearance rate has been both stable over the past few weeks and in line with this time last year. Given the higher volumes this means more active buyers are in the market.
<ul>
<li>In Sydney there are 486 auctions expected compared to 588 last week and 521 for this week last year. Last week’s clearance rate of 76.7% was the highest since March. The auction market is following the trajectory of last year which suggests a very competitive spring ahead for buyers.</li>
<li>Brisbane is expecting 97 auctions after 96 last week.</li>
<li>Adelaide is expecting 50 auctions compared to 95 last week.</li>
<li>Canberra has 31 auctions scheduled compared to 28 last week.</li>
<li>Perth has 25 auctions compared to 20 last week.</li>
<li>There are nine auctions scheduled in Tasmania.</li>
</ul>
Across Australia, the highest number of auctions is expected in <a href="/news">Malvern East</a>,<a href="/news"> Balwyn North</a> and <a href="/news">Reservoir</a>, each of which has 13 scheduled.
There are 673 auctions scheduled this week in Melbourne compared to 677 for the same time last year. Buyers are clearly in the market for capital gains, as yields remain low at 3.3% for houses; the lowest of all capital cities.
Low yields translate into good conditions for renters in many parts of Melbourne. Recently released rental market data showed that the median advertised rent for a house in Melbourne was stable in July at $447 per week and has risen by 2.4% in the previous twelve months.
This means that the median advertised rent for houses is not keeping pace with the CPI, 3.2% in Melbourne, for most relevant period. The comparable data for units showed a drop of a dollar a week to $397 over the month and an increase of 1.6% in the year. This reflects the adequate levels of supply in the higher density market.
The average time on market for houses sold last month rose from 44 to 46 days. Vendor discounting rose, but only slightly from -5% the previous week to -5.1% last week.
Key data for Melbourne
<ul>
<li>Clearance rate week ending 3 August: 69%</li>
<li>Melbourne auctions expected week ending 10 August: 673</li>
<li>Melbourne private sales time on market week ending 3 August: 46 days (houses)</li>
<li>Melbourne vendor discounting market week ending 3 August: -5.1% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 3 August (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Period of low auction numbers coming to an end: RP Data's weekend auction preview

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Early last year I wrote an article which investigated a <a href="/news/blockhead-concept-447-collins-street-market-square">possible development scenario for 447 Collins Street</a>, on the basis that the existing 1960's structure were to be demolished.

Fast forward to last week and we were afforded our first glimpse of <a href="http://www.woodsbagot.com/">Woods Bagot</a> + <a href="http://www.shoparc.com/">ShOp</a>'s schemes for the site, each with varying provisions of public space. The scheme titled 'Bridge' would consist of dual towers of 160 + 190m with a north south laneway bisecting the site and a small pocket of public space to the north-east corner. The alternative scheme title 'Spire' (architecture notwithstanding) bares a strong resemblance, in particular from an urban master planning point of view, to what I had considered a year earlier.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/laneway_v_square.jpg" rel="gallery-all" title="Spire + Bridge. Square v Laneway. © Woods Bagot + ShOp"><img alt="" class="image-article-full-width-580px" height="269" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/laneway_v_square.jpg?itok=61qdGGmZ" title="Spire + Bridge. Square v Laneway. © Woods Bagot + ShOp" width="580"></a>

<figcaption>Spire + Bridge. Square v Laneway. © Woods Bagot + ShOp</figcaption></figure>While two schemes were investigated in my initial piece, ultimately I was convinced that ISPT (now <a href="http://www.cbusproperty.com.au/">CBUS</a>) and their architects would favour a dual tower scheme with a north-south laneway similar to the their previous CBW project. The sort of scheme I was looking at, while not without substance was more pie in the sky stuff (300m to be exact). It was intended to generate debate as to just what we value as Melburnians from a public domain point of view.

Would we accept overshadowing of Southbank promenade in exchange for a large public space in the heart of the city? Many people have raised the fact that such a space currently exists on site as we speak. My questions to them are: Is it actually a quality public space? Does it make a positive contribution to the street and city? Is it a desirable space to dwell in or a memorable space?

I would answer most of those questions in the negative. The most positive aspect of the current site configuration is its northerly aspect, meaning it should be afforded a generous amount of natural sunlight during the day. Additionally CBUS are only required to provide/retain 480sqm of public space, so to provide close to five times that requirement for public benefit while not eroding the commercial programme is quite the challenge.

On face value the 300m Spire scheme provides the greater benefit to the public domain: there are far more people living, working and visiting the traditional CBD grid. Obviously further interrogation and detailed design is required before an educated judgment can be made with any degree of certainty and confidence but the positives for mine, far outweigh the negatives.

By locating the public space to the eastern side of the site and consuming part of Market Street this allows for solar penetration to Flinders Lane while also creating a new vista to the historically significant beaux-arts former Port Authority building to the south. Planning scheme controls aside the big question that needs to be asked is what does Melbourne really need? Another 21st century quasi-laneway experience? Or perhaps a public space with a bit more substance?

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/04_0_0.jpg" rel="gallery-all" title="This man's interpretation of a revamped 447 Collins public space"><img alt="" class="image-article-full-width-580px" height="231" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/04_0_0.jpg?itok=1sfKpysi" title="This man's interpretation of a revamped 447 Collins public space" width="580"></a>

<figcaption>This man's interpretation of a revamped 447 Collins public space</figcaption></figure>Now I don't for a second doubt the combined capabilities of Woods Bagot and ShOp in delivering a quality public space, whether it takes the form of a 4,000sqm public square or a more intimate laneway experience.

The other point that needs to be raised is the Yarra itself with the exception a few nodes here and there is a largely transient body of water, it is not intended for static activities. It is overshadowed everyday of the year by the numerous networks of bridges which connect north and south. The Southbank promenade on the other hand is itself a largely homogenous experience, overshadowing part of its 1.2km length will not destroy the area and send people running away in droves.

The detriment to the south of the Yarra is more than balanced out by the gain to the north.

There's an argument that supporting such a proposal would set a precedent. Now if that precedent happened to be a tower with +2,000sqm of public space at ground level in exchange for some overshadowing of Southbank promenade in winter, I would take it every day of the week. Realistically sites like 447 Collins don't really exist anymore and the likelihood of a developer consolidating multiple sites is highly unlikely.

My opinion on the matter will likely prove unpopular but while the provisions of the planning scheme exist to protect the amenity of our streets, parks and public domain in general, these should not be at the expense of innovation. Rather than discouraging the development of alternative solutions which may not fully comply with requirements, the planning scheme should encourage more creative responses and design solutions to the issues which we are faced with today. We have previously seen the City of Melbourne commend another project in 97 Franklin Street for thinking outside the square (literally).

In finishing, I have never been one to see the world in strictly black and white terms. There are plenty of shades of grey out there and I believe these have the potential to offer the most interesting outcomes.
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Laurence Dragomir

The Laneway and the Square: the 447 Collins Street debate

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Senator Nick Xenophon's proposed legislative changes to allow first home buyers to access their superannuation funds for a deposit on their first homes have seen many different reactions from property experts.
“With more and more Australians finding it difficult to break into home ownership, adopting the Canadian scheme would make a difference to many thousands of Australians each year,” said Xenophon.
The Canadian scheme allows first home buyers to extract C$25,000 for the purchase of their first home, which must be repaid into the fund within 15 years.
The scheme has been supported by some industry groups and businesses and derided by others.
Property Observer took the question to the experts: Should first home buyers be allowed to access their superannuation to fund the deposit on their first home?
Catherine Cashmore: market analyst <img src="/images/authors/fullbody/Catherine-Cashmore.png" alt="" align="right">
Nick Xenophon, along with other groups, such as the REIA, is advocating a policy that will be responsible for making housing affordability worse.   The procedure in Canada allows eligible buyers to withdraw up to C$25,000 tax-free from their retirement fund, on the condition that they pay it back over a 15-year period.   
If they fail to do this, the amount withdrawn will be taxed as per the income earner's tax bracket. Currently, 35 per cent of Canadians fall into this category. However, according to the CRA, roughly one out of two (47%) contributed less than the required repayment amount over the 2011 tax year.    The Government picks up the added income revenue windfall.
Buyers, buoyed by a rent seeking culture that fools the public into believing such policies are designed to be ‘helpful’, over stretch their budget and are left to carry the can in weak economic conditions.   In short - you borrow money from yourself at 0% interest and in doing so lose 15 years of compounding 'tax free' interest with average returns in the order of 7%.    
Many low to middle-income individuals have inadequate funds to draw upon. So even assuming the scheme were to be effective, the difference it can make to those that need the help is limited.   
But the real ‘nub’ of the issue, which Nick Xenophon has failed to acknowledge, is that the Canadian Home Buyer Plan was never intended to aid affordability.    It was promoted by the real estate industry following the 1990s recession to stimulate land values and benefit the FIRE (finance, insurance, real estate) sector, along with its economic offshoots - renovations, furniture and appliances, moving costs, tax revenue to government and so forth. The FIRE sector has lobbied to keep in place ever since and also pushed for the threshold to be raised.
Craig MacKenzie: RP Data executive general manager commercial, with research analyst Cameron Kusher<img src="/images/2014/08/06/CraigMackenzie.jpg" width="150" height="225" style="float: right;">
Pros:
<ul>
<li>Buyers need genuine savings given the price of housing in cities Sydney and Melbourne and the cost of renting saving deposit is extremely difficult, accessing superannuation would make it easier</li>
<li>Genworth reports that 1 in 4 first home buyers need assistance from their parents to enter the market, by accessing superannuation they remove the burden from the parents</li>
<li>In some instances tapping superannuation would mean that the purchaser doesn’t have to pay LMI on their purchase which would reduce the cost of purchase</li>
<li>The retirement savings pool is one of the largest in the world unlocking a portion of it would enable first home buyers to access one of the most basic human need, shelter</li>
<li>Superannuation is about forced saving for retirement, a home for owner occupation is a long-term investment so the horizons are aligned.</li>
<li>Ultimately the position is neutral with the Canadian scheme seeing the amount withdrawn from Canadian Registered Retirement Savings Plan’s (RRSPs) repaid over 15 years.</li>
</ul>
Cons:
<ul>
<li>Accessing Superannuation doesn’t address the key reason why FHB can’t purchase a home, that is that it is too expensive in many areas particularly those areas close to city centres and around major working nodes. </li>
<li>By accessing Super to purchase a home it would potentially increase home values further, much like the First Home Owners Grant has</li>
<li>Utilising Superannuation would allow FHB to buy in a location they otherwise couldn’t afford to, is this really a good policy given buyers should by in a location which is aligned with their current means to repay a mortgage.</li>
<li>The Canadian scheme doesn’t appear to have any penalty or interest associated with withdrawing that money.  The amount is paid back over 15 years however, that is 15 years over which that money could have compounded if invested elsewhere.</li>
</ul>
It should be noted that Canadian RRSPs are somewhat different from Superannuation as they are set up by individuals and in most instances employers don’t contribute to the plan.  It is about saving for retirement however, there are no compulsory contributions from the employer rather an RRSP is set up by the employee to save for retirement.
 
Turn over page for more responses, from Philip Soos, Helen Hodgson and Peter Bushby.
 
 
<hr class="system-pagebreak">
 
Philip Soos: economist, author and Deakin University PhD candidate<img src="/images/2014/08/06/soos-profile.jpg" width="150" height="180" style="float: right;">
<div>I staunchly oppose the suggested policy advocated by Senator Nick Xenophon, which allows potential first home buyers to access their superannuation to finance a deposit. Simply put, it acts likely a privately-financed First Home Owners Grant/Boost, which has the intended effect of distorting (and increasing) housing prices.</div>
<div> </div>
<div>One of the most popular interventions in the housing market has been the use of federal government homeowner cash grants, in one form or another. They are implemented on the pretext of helping Australians realise the so-called dream of home ownership. This is false, however, as housing prices outpace the amount of the FHOG/B by a considerable multiple due to the additional leverage bank credit enables.</div>
<div> </div>
<div>Put another way, the FHOG/B is rendered null and void, as it is simply capitalised into higher prices from the moment of its availability. The FHOG has the effect of pulling forward demand for housing into the present, with first home buyers stampeding into the housing market.</div>
<div> </div>
<div>The pretext for superannuation is to help retirees, but in reality is designed as a pork barrel for the financial sector, which creams off approximately $19 billion in fees annually. Bankers already benefit from regulations allowing homeowners facing foreclosure to raid their super.</div>
<div> </div>
<div>Xenophon’s policy makes it doubly worse – another gift to bankers through higher housing prices, larger loan portfolios, and rising net interest income. This senator owns eight properties; it is clear he advocates this policy out of self-interest, not out of any concern for first home owners. It is designed to increase home prices, not home ownership.</div>
<div> </div>
<div>
Helen Hodgson: associate professor, Department of Taxation at Curtin Business School, Curtin University <img src="/images/2014/08/06/Helen.Hodgson.png" width="150" height="167" style="float: right;">
</div>
<div> </div>
<div>Secure housing is important to wellbeing in retirement, but as the superannuation guarantee increases to 12% first home buyers hoping to enter the market will find it increasingly difficult to save a deposit. There are three major hurdles to the proposal to allow access to superannuation: 1. Increased demand increases house prices in the relevant price range: as Saul Eslake notes, first homebuyer grants end up in the pockets of vendors. Stamp Duty concessions have been scaled back with some states limiting them to new construction to stimulate housing supply. A similar strategy here could limit house price rises due to increased first home buyer activity. 2. Superannuation is a tax preferred investment, and allowing superannuation withdrawals would exploit this tax advantage. The accumulated superannuation balance is higher than other investments, and a salary sacrifice strategy could take advantage of this. This could be counteracted by taxing withdrawals at the marginal tax rate, less the tax paid by the fund. 3. The funds must be used to acquire and continue to use the property as a residence. There should be a requirement that if the person moves out of the property the funds must be repaid, coupled with compliance measures.</div>
<div> </div>
<div>This article continues on the next page with thoughts from Peter Bushby and Terry Ryder. </div>
<div><hr class="system-pagebreak"></div>
<div> </div>
<div> </div>
<div>
Peter Bushby, Real Estate Institute of Australia president <img src="/images/2014/08/06/bushby-profile.png" width="150" height="200" style="float: right;">
</div>
<div> </div>
<div>It's been part of our (the REIA's) policy for many years now that it should be considered as a possibility, as long as it's packaged correctly, and as long as it doesn't harm, or have a negative effect on superannuation funds, and [first home buyers] would be paying it back in the longer term. We certainly believe it would be a tool to assist first home buyers., It would actually allow a lot of people to take advantage of and enjoy the benefits of home ownership that they can't quite get at the moment. They might be able to get the money at the end of the day, but if they got it earlier, it could be far more valuable to them, rather than renting and paying off someone else's mortgage. We believe that it is a viable option. Of course you'll get a negative reaction from the super funds and so on, but we believe that as long as it's operated properly, it could be very valuable. There are a couple of schemes that operate well around the world. We've identified Canadian and Singaporean schemes that could be translated, though obviously it would work differently here. But the Canadian scheme in particular could be useful to look at. It's about looking at the elements of it that would work best in our market without damaging existing super funds.</div>
<div> </div>
<div>Terry Ryder, founder of hotspotting.com.au <img src="/images/authors/fullbody/Terry-Ryder.png" width="135" height="186" style="float: right;"></div>
<div>
<div> </div>
<div>Nick Xenophon is suggesting a solution to a problem that does not exist. And, in the process, weakening the solution to a problem that does exist.</div>
<div> </div>
<div>Xenophon's proposal is based on the premise that we have an affordability problem in Australia. All the evidence suggests that we do not.</div>
<div> </div>
<div>Before we start implementing solutions, we need to properly understand the "problem". It is assumed that, because first-home buyers are apparently less active than before, there can be only one explanation - that they cannot afford to buy. The evidence suggests another reason: that young adults are not interested in buying. They have other priorities. Their parents were married with kids and a mortgage before the age of 30, and today's generation doesn't want that. </div>
<div> </div>
<div>So we don't need Xenophon's solution which, while addressing a non-existent problem, would weaken the solution to a very real existing problem. And that is the rapidly ageing population and the need for people to fund their retirement - for which superannuation is critical. Superannuation funds should be sacrosanct.</div>
</div>
  
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Exclusive: The experts on super access for first home buyers

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There are any number of expensive options across New South Wales, but what about the cheaper suburbs?
Property Observer looked to the most recent median unit prices from RP Data to find out where the cheapest options are (sub-$200,000), and their gross rental yields, and then took to the current listings to see whether these properties could really be snapped up in today's markets.
Here are the suburbs and what we found, in alphabetical order.
<a href="/news">Bomaderry</a>
$195,000
On the market now: Three apartments or units at $190,000 or below. The cheapest is at 1/42 Lyndhurst Drive, asking $180,000 for a two-bedroom one-bathroom apartment. The most expensive is 1/5 Harbour Boulevard, which is asking $257,000 for a two-bedroom one-bathroom.
Gross rental yield: 6.4%
<a href="/news">Brownsville</a> $195,000 On the market now: Only two options came up, one at $200,000, the other at “over $200,000”. Gross rental yield: 6.8%
<a href="/news">Casino</a> $190,000 On the market now: Currently, there are 30 units or apartments on the market, including an entire block of flats (three one-bedroom and one two-bedroom) for $349,000 as well as a $269,000 home converted into two units that is marketing itself to developers. Individual apartments up for sale span from a $132,000 two-bedroom one-bathroom unit advertising a potential 7.1% rental yield to a $270,000 three-bedroom, two bathroom villa in a newer estate. Gross rental yield: 6.02% <a href="/news">Corowa</a> $139,000 On the market now: There are five units or apartments to choose from. A two-bedroom, one-bathroom brick veneer unit for $130,000 is the cheapest up to a two-bedroom, one-bathroom unit with a larger yard for $159,000. Gross rental yield: 6.28% <a href="/news">Cowra</a> $115,000 On the market now: Four Cowra results reveal opportunities for $100,000 (for a one-bedroom, one-bathroom offering) up to a $375,000 renovated studio with a blue chip tenant offering a 7% rental return. Gross rental yield: 7.69%
<a href="/news">Deniliquin</a>
$124,000
On the market now: Eight results come up for a search, including some business premises. One of the apartments is a one-bedroom, one-bathroom offering for $85,000. The priciest is a $320,000 opportunity, bringing two apartments to the market each with two-bedrooms, one-bathroom and with $170 and $175 per week in rent.
Gross rental yield: NA
<a href="/news">East Albury</a>
$185,000
On the market now: There are currently purchasing opportunities from a two-bedroom one-bathroom apartment for $129,000, to $239,000 for a well presented two-bedroom unit with a garage.
Gross rental yield: 5.92%
<a href="/news">Griffith</a>
$192,000
On the market now: Currently there are six apartments for $700,000 in total in a listing and a 16 room boarding house for $360,000 plus, with individual offerings spanning as low as $175,000 for a two-bedroom one-bathroom.
Gross rental yield: 6.77%
<a href="/news">Kooringal</a>
$190,000
Currently on the market: With just six offerings, aimed at investors includes a two-bedroom, one-bathroom for $119,000, aiming itself at new investors starting their portfolio, and a $253,000 renovated opportunity with two-bedrooms and one-bathroom in a central location. The listing notes it has rent potential of $280 to $300 per week.
Gross rental yield: 6.02%
<a href="/news">Lavington</a>
$138,000
Currently on the market: Currently, there are 35 options in Lavington. A two-bedroom, one-bathroom sits at the bottom of the list at $105,000 with tenants who have been in residence for four years. There are many options around the $120,000 mark, and a couple of multi-unit offerings in the $200,000 to $300,000 bracket. For $215,000 investors can buy themselves a freestanding two-bedroom one-bathroom townhouse.
Gross rental yield: 7.56%
See over page for more
<hr class="system-pagebreak">
<a href="/news">Leeton</a>
$191,000
Currently on the market: A measly three listings comes up when searching for Leeton units, with a one-bedroom, one-bathroom offering for just $69,500 on the edge of town, up to a $147,000 two-bedroom, one-bathroom offering that appears to aim itself more towards owner occupiers.
Gross rental yield: 5.73%
<a href="/news">Lismore</a>
$168,000
Currently on the market: Just one listing comes up for Lismore, with 9 Cathcart Street offering “Cash flow positive flats” saying that they want the market to tell them what they’re worth and asking for offers. They’re expecting that the two dwellings on one title as a ‘flat’ will net two incomes totalling $565 per week in rental income.
Gross rental yield: 7.45%
<a href="/news">North Albury</a>
$157,000
Currently on the market: Offerings from $119,000 for a two-bedroom, one-bathroom unit – aimed at first home buyers and investors – up to $295,000 for a block of two units, and $189,900 for a three-bedroom, one-bathroom townhouse.
Gross rental yield: 5.96%
<a href="/news">Nowra</a>
$175,000
Currently on the market: Three offerings in Nowra see a $142,000 two-bedroom one-bathroom listing compete with a $235,000 two-bedroom, one-bathroom free-standing villa and a newly renovated CBD $229,000 two-bedroom, one-bathroom apartment.
Gross rental yield: 6.84%
<a href="/news">Taree</a>
$155,000
Currently on the market: In total, 19 results (when taking out duplicates) come up when searching in Taree. A whole block of four units is seeking investors to pay $495,000 for the offering. Meanwhile, a $235,000 three-bedroom duplex with no strata is being advertised. There are also many offerings on the other side of the spectrum, with two units (one bed sitter and one studio) looking for $72,500, with most of the cheaper options around the $120,000 mark.
Gross rental yield: 7.38%
<a href="/news">Tolland</a>
$124,000
Currently on the market: Six Tolland results see the most expensive asking for offerings around $195,000 for two-bedroom, one-bathroom and one-garage with a tenant in-situ at $240 per week until January 2015. A $118,000 two-bedroom, one-bathroom unit is also up for sale suggesting that the previous tenant paid $175 per week, and also noting that the adjacent unit is also up for grabs.
Gross rental yield: 7.65%
<a href="/news">Vineyard</a>
$165,000
Currently on the market: Just two units are available – both over-55s villas, the first for $165,000, the second for $320,000, both in Windsor Country Village. Another stage of property releases is also noted for the area in Granthan Estate, which notes that stage one’s 111 lots and stage two’s 116 lots sold out, with stage three now to be released with 56 elevated lots. They are priced from $345,000.
Gross rental yield: NA
<a href="/news">Warrawong</a>
$194,000
Currently on the market: Just one option exists in Warrawong right now, asking for offers above $199,000. The two-bedroom top floor unit is in a boutique complex of four and has been recently updated. It notes that strata levies include admin of $570.40 per quarter and $182.25 per quarter for the sinking fund.
Gross rental yield: 6.7%
<a href="/news">West Albury</a>
$198,000
Currently on the market: Four West Albury options from $179,000 to $270,000 are available. The lower priced offering on Padman Drive includes two bedrooms and one bathroom, while on the other end of the scale is a three-bedroom, two-bathroom unit with one garage, with just two units on the block. Gross rental yield: 6.06%
<a href="/news">West Tamworth</a>
$184,000
Currently on the market: No listings currently noted for units and apartments in West Tamworth.
Gross rental yield: 6.78%
<a href="/news">Windradyne</a>
$190,000
Currently on the market: Six opportunities, evenly split between Bathurst Real Estate and the local Ray White office are available. These span from $134,000 to $205,000, the lower being the only one-bedroom, one-bathroom listed and the higher being one of two three-bedroom, one-bathroom offerings. The rental potential of the $134,000 listing is set at $150 per week, with the more expensive listing suggesting an achievable $270 per week.
Gross rental yield: NA
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