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 buying your first home, there are many daunting tasks to tackle. One of those tasks is securing your first home loan.
Before you’ve found your dream home, start looking for your dream mortgage. Without finance, there's no purchase - so make sure you get it right.
Choosing your first home loan
Fixed or variable? Packaged or unpackaged? A big lender or a small one?
To pick your home loan, there are three main things to think about:
<ol>
<li>Your priorities</li>
<li>Where rates will move</li>
<li>The products</li>
</ol>
To navigate the myriad mortgage products on the market, you need to have your priorities clear. It's rare that one deal will be clearly better than all the others - instead, it's all about what's best for you.
You may be after low ongoing fees. Perhaps security against future rate hikes may appeal to you, or maybe you're more interested in capitalising on the next rate cut.
Firstly, remember that a mortgage is a long term commitment. It's incredibly unlikely that your life circumstances will stay constant over your entire mortgage term. Think realistically about how your life might change over the next five or 10 years - you might have ongoing health concerns that will make rate repayments harder, or go from a double income household to a single one. A new addition to the family will seriously change your finances, as will a career change.
Figuring out your priorities doesn't just mean figuring out your priorities for today. It means figuring out what your priorities will be a decade down the track.
With a variable loan, your interest rate will change each month, according to how your bank responds to changes in the Reserve Bank's overnight cash rate. With a fixed loan, you lock in a single rate for a set number of years - anywhere between two and 10. Your choice will be in large part informed by your personality and your priorities - some are more comfortable with variance than others.
As <a href="/expert-insights/finance/weighing-up-fixed-vs-variable-interest-rates-mark-bouris">Mark Bouris writes</a>, both fixed and variable options come with their own risks. Pick a variable loan, and you'll be paying more when the Reserve Bank increases the cash rate. Go with fixed, and you'll miss out on any rate cuts.
While nobody knows for sure which way rates will move, we're currently at a record low cash rate of 2.5%. For some, this <a href="/expert-insights/finance/analysis-is-it-worth-fixing-your-home-loan">means that fixing is a better option</a>, financially speaking, as many expect the only way for rates to move is up. Fixed products will also make it easier for you to budget, as you'll know exactly how much money you need to put towards your mortgage each month.
However, <a href="/expert-insights/finance/variable-rates-remain-the-loan-product-of-choice">75.34% of all home loans written up in June</a> were variable, perhaps due to the generally lower rates offered on variable loans than fixed ones.
And of course, it's not just the rate that matters, but the product and the bank's conditions. Often, fixed rate loans do not allow you to make extra repayments on the months that you have a bit of spare cash, or will charge you a fee to do so. You may also face a "break fee" if you sell your house before the end of the term and repay the entire loan, or if you change your loan.
The Consumer Action Law Centre recommends that borrowers <a href="/expert-insights/buying/consider-opt-out-costs-when-getting-a-loan-consumer-action-law-centre">consider their opt out fees upfront</a>, rather than waiting until your circumstances change.
There's also the option to split your loan type, with a partially fixed loan. For example, if you know your budget is generally likely to be tight but that you occasionally get substantial injections of cash, from bonuses or short term contract work, you may want to choose a 50% variable and 50% fixed loan which limits your exposure to future rate hikes but still allows you to make extra repayments occasionally.
Of course, there's more to picking a home loan than just picking the type. There are also lenders, packages, fees and discounts to consider. Online comparison websites like <a href="https://finder.com.au" target="_blank">finder.com.au</a> can help with this task.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
But if you're struggling to sort out what is best for you, it might be time to bring in some help.
Mortgage brokers
A mortgage broker is someone who specialises in home loans and will negotiate with lenders on your behalf to arrange your loan. A good mortgage broker will help you select the best loan and secure it with your lender. But be careful - a mortgage broker often receives broker's fees or commissions by credit providers, which can influence what loan they recommend to you. So even if you do use a broker, you should still shop around for the right loan - and the right broker.
Questions you should always ask your broker:
(For more on this topic, <a href="/expert-insights/finance/five-questions-you-must-ask-your-mortgage-broker">click here</a>)
<ol>
<li>How do you get paid? Unfortunately, a broker will not always act in your best interest. Determining where they get their money from may help you identify any conflicts of interest. 
</li>
<li>Who is on your lending panel? If your broker only has access to loan information from a few banks or lenders, you're not getting the full picture and could miss out on a good deal. If you know of lenders they don't, do some independent research. 
</li>
<li>What is your average client like? Make sure you get a broker that specialises or at least has a good deal of experience with first home buyers - long term investors will have very different needs. 
</li>
<li>What are your license details? Your broker should have an Australian Credit License, with their number displayed on official paperwork. Don't be afraid to google them and ask about professional indemnity insurance in case anything goes wrong. 
</li>
<li>What are some difficult deals you've pulled off? Your mortgage broker should be open and honest about their previous dealings - remember, they're there to help you, so make sure you're going with someone with experience and confidence.</li>
</ol>
Knowing what you can afford
A large part of picking the right home loan is about knowing what you can afford. You might have saved up enough to make a 10% deposit on a $500,000 home, but that doesn't mean you can afford to make the monthly repayments on a $450,000 loan. There are a number of calculators available to you, <a href="/expert-insights/buying/six-handy-apps-for-first-home-buyers">including apps</a> like tapMortgage and Approve Me.
tapMortgage can help you calculate your stamp duty, transfer fees, first home concessions and mortgage repayments. You can sort out the potential savings you would make with different repayment schemes or the total interest you'll pay on your loan. Approve Me is another app which can help you decide whether you can afford your prospective loan repayments. It even has a process for obtaining home loan pre-approval.
Knowing what you can afford is the most important part of choosing your first home loan. While many decide on how much they have for a deposit, the area they'd like to live in and even the kind of home they want before thinking about their mortgage, many experts recommend figuring out how much you can afford to pay each month before considering any of the more glamorous aspects of buying your first home.
Once you think you know what kind of loan suits you best, and you've gotten an idea of the kind of property you're after, it may be worth getting a <a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval">mortgage pre-approval</a>. While it's not a watertight guarantee you'll be approved for the loan of your choice, it's your best bet.
Running into trouble
No matter how well you prepare, there's always the risk of something going wrong. Unexpected costs and events can severely hamper your ability to repay your loan. If you think you're at <a href="/news/vic/victoria-s-mortgage-delinquency-on-the-rise-how-you-can-stay-above-water">risk of default</a>, here's what you can do: 
<ol>
<li>Communicate with your lender. Don't think your lender just won't notice if you stop making your loan repayments. Be clear with them about what's happening - they may be able to stop the process that will end in you defaulting on your loan and getting evicted from your home. 
</li>
<li>Enquire about hardship variations A hardship variation is an amendment to the terms of your loan contract which may temporarily make your loan more affordable by decreasing your monthly repayments but increasing your overall loan term. For new loans, you should be able to apply for a hardship variation no matter what your loan size is. If they don't approve your hardship variation application, your lender must provide a reason. 
</li>
<li>Check your insurance Depending on the reason for your default - loss of income, a health issue or a sudden death in the family, you may be able to claim cover that will assist you in paying off your loan. 
</li>
<li>Consolidate and refinance Be wary of refinancing your loan to reduce your payments - like with a hardship variation, this is likely to only be a short term fix. Beware of hidden costs and fees. 
</li>
<li>Selling or renting If you absolutely can't continue to repay your home, you may have to consider selling your property to pay off your loan. This is a long term fix, with its own major costs. You may also face extra fees for breaking your loan contract early. If you have alternative accommodation available - a parent's house, for example, you may consider moving back there temporarily and renting out your house. Again, this comes with its own costs, like the expense associated with hiring a property manager. 
</li>
<li>Seek help If you run into financial trouble, you're not on your own. There are free and low cost services available to help those under financial stress, like financial counsellors and legal advisors.</li>
</ol>
Of course, the best way to avoid running into trouble with your first loan is to plan ahead carefully and choose wisely in the first place. Be honest with yourself about your payment abilities, and consider your mortgage as carefully as you're considering your first home purchase.
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jrichardson-uRX5hFdKfN

Getting your first loan? Here's what you need to know

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It’s an increasingly common debate – do you look to buy an investment property first, or a home?
Here are some easy pointers to steer you quickly through the maze of indecision.
Tradition says that when you have enough saved a deposit, you’re serviceable, and you’re prepared to take on debt, then you take the leap into buying your own home. However, this doesn’t necessarily need to be the case.
A debate is emerging around whether first time buyers should choose a home or an investment property first. It’s a fair question to ask – particularly when we’re seeing many decide to opt for this arrangement.
However, it will come back to one simple question: Why were you buying in the first place?
If you were buying to escape your parent’s house, or the irritating situation of renting and being unable to paint your walls or have a pet, then it’s unlikely buying an investment property will suit your goals. If, however, you are looking to buy for primarily financial reasons – rather than for lifestyle reasons – then asking yourself whether an investment property is a good option is a fair question.
While all properties should be treated with careful planning, and considered as a financial decision, it's worth noting that ignoring the "owner occupier" aspect of buying opens up many locations and opportunities across the country to consider where to place your money.
Mortgage Choice previously discussed the benefits of dabbling in the market through an investment first.
“[After buying] They then rent the property out and use the life lessons, possible tax benefits and any financial gains to put them in a better position to buy their first home," a spokesperson explained. “This occurs especially with younger people who want to get into the property market but may have been priced out of buying a home in the area they want to live in. A clever investment property purchase and a little patience could see these home buyers-to-be residing in their desired suburb sooner than expected."
<div id="stcpDiv" style="position: absolute; top: -1999px; left: -1988px;">“While affordability has improved of late, it is not uncommon for first time property buyers to dip their toe into the market by purchasing an investment property first. They then rent the property out and use the life lessons, possible tax benefits and any financial gains to put them in a better position to buy their first home.   - See more at: https://www.mortgagechoice.com.au/fairien.azeem/blog/fallen-for-your-first-home-but-unsure-if-you-can-commit-buying-your-first-investment-property-before-your-first-home-may-help-15620#sthash.74PwQJBa.dpuf</div>
Let’s unpack the debate a little more.
THE PROS AND CONS
Source: <a href="/expert-insights/investing/the-pros-and-cons-of-buying-your-first-property-as-an-investment-and-continuing-to-rent">Cameron McEvoy</a> - property investor, Property Spectator 
Owning your own home, investing later 
Pro: The security of not being asked to leave after six months of tenancy.
Pro: You can personalise the space you live in and have greater freedom to decorate.
Con: You cannot claim any of the tax benefits of living in your own home unless...
Pro: You rent out bedrooms to a boarder, entitling you to apportioned tax deductible expenses (effectively making your own home partially an investment property).
Pro: The advantage of being able to live in the area/suburb/street where you want to be. Renters are often at the mercy of accepting less than their ideal locale.
Con: You are at the mercy of paying the additional costs involved in home ownership (strata for units, council/water rates, house maintenance, repairs, etc) without any of the tax deduction allowances, making owner-occupying very expensive when coupled with mortgage repayments.
Investing while renting 
Pro: Cash flow month to month - it's easily considerably cheaper to split bills and rent rate.
Pro: Probably the biggest one – you free up cash flow to save harder for a deposit on an investment property.
Pro: Many options exist within this: couples moving in together to split costs; friends can flat or house share to split costs; or simply living with parents and paying a little board can keep costs down.
Con: Insecurity of long-term tenancy. Owners can sell/move back in/even demolish the property you're renting.
Con: Costs aren't fixed; leases tend to hike up in rent at the end of one lease and the start of another one.
Con: Depending on whom you're living with, the challenge of personality clashes or inconvenient lifestyle issues with accommodation sharers.
Con: Lack of freedom in personalising your home.
LIFESTYLE AND CIRCUMSTANCE
This part is largely personal.
Renting doesn’t suit everyone – particularly if you do not want to be forced to move at the end of your lease agreement. There are thousands of gripes that tenants have with their landlords and property managers. Many of us would love to be able to paint our walls, buy a pet or just not put up with inspections.
If you’ve come to the end of your tether, and that is why the property market is looking attractive, it seems that buying a home is for you.
However, if you are not sure about what the next seven to 10 years holds for you (how many of us really are), then renting might suit perfectly. Herein lies a lifestyle debate that sees many retain their tenant status. You might not know what you want to live in down the track – perhaps your lifestyle will change, you may have children or you’ll need to move for work. Remaining flexible, by renting, may be the best solution for you – particularly bearing in mind hefty in/out costs when it comes to transacting property.
Lifestyle is also heavily affected by affordability.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
AFFORDABILITY LEVEL AND LOCATION
Let’s be honest – affordability is largely about location. If you can’t afford to buy in the location you’re renting in and that you love, then you will be required to look elsewhere. Similarly, growth might be forthcoming elsewhere than in your current city – for instance, Sydney has recently gone through a cycle and it’s debatable as to the levels of growth still expected over the year (although recent estimates have suggested 10% growth to come).
Do you actually want to live where you can afford to buy? If you love your current location (for instance, some upcoming first time buyers we know of cannot contemplate not living in Melbourne’s <a href="/news">Prahran</a> or in Sydney’s <a href="/news">Newtown</a> or <a href="/news">Glebe</a>) and can’t afford to buy there, but still want to be getting onto the property ladder… well, it might make sense to retain your current lifestyle and hold an investment property elsewhere.
If your budget is $350,000, not a huge amount given the median prices of our capital cities, and you live and work in, say, Sydney CBD – then it might be worth looking to see what the regional areas can offer up at your budget.
It may even be worth looking interstate.
Choosing an investment property and location means that you can get onto the property ladder, while remaining in the same area, and potentially choose something that is neutrally geared, or close to it. This essentially means you will be paying out minimally each month.
Compareyour rent to the mortgage repayments you would have if you were buying a home, as well as the investment property required pay-out. It’s worth considering which is the most viable for you.
In some areas it’s cheaper to buy than rent, based on repayments. Don’t forget that there are other costs you need to be paying as well (for instance, council rates or strata) that often make this not strictly true.
Even so, not every area is lucky enough to fall onto the list.
Similarly, investing in property allows some significant tax breaks – particularly if you are on a higher income. Things like depreciation can be claimed, as can your property-related expenses. While it<a href="/expert-insights/finance/negative-gearing-is-not-the-way-forward-kevin-lee"> is never worth investing in property for a tax break</a>, it does affect your overall bottom line and should be factored into the equation. You also want to consider the future effect of capital gains tax.
If renting a room as a single in a lower-cost area, you can significantly keep your own costs down. Having a home is going to be a pricey enterprise.
FIRST HOME BUYER GRANTS
The government doesn’t give out a huge number of handouts to those looking to buy property; however first home buyers are often in luck.
Some states and territories require you to live in the property for a period of time. Others say that buying an investment doesn’t affect your ability to get the grant in future, provided you don’t live in it.
Be clear on the rules to ensure you’re not missing your personal benefits by buying an investment property. If you are, then weigh up the lost opportunity.
MATURITY
Let’s be frank. You won’t hear this point much, but if you become an investment property owner – and therefore a landlord – you’re going to need to be able to handle a group of professionals. You will need the maturity and sensitivity to deal with tenants. These may be model tenants but, as we’re all human, there is always the possibility of them causing damage. If you can’t handle this – and it’s regardless of age – then you’re unlikely to be suited to a lifetime of landlording.
It’s also about being in the right frame of mind to invest over buying a home. Investing is about leaving emotion out of the picture and potentially buying something ugly, or in an area you do not personally deem charming, to secure future growth.
You are likely also going to need to hold onto this property for a period of time. How will it affect your future plans?
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jduke-EHk3XBmHkn

A home or an investment property: Which do you choose?

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A mortgage broker network claims that allowing first home buyers to dip into their superannuation to make a deposit on their nome could benefit the housing finance and superannuation markets.
A number of industry bodies have supported Independent Senator Nick Xenophon's proposal to change restrictions surrounding superannuation access for first home buyers, <a href="/expert-insights/buying/time-to-allow-first-home-buyers-access-to-superannuation-hia">including the Housing Institute of Australia</a> (HIA).
According to 1300HomeLoan managing director John Kolenda, Xenophon's propsal could have a positive impact on the housing market but would require restrictions.
“Anything that can help first home buyers get into the market to buy their first home is a good thing,” said Kolenda.
“First home buyers have had a number of factors stacked against them in recent years and they are the least active sector of the home finance market despite record low interest rates.
“Many have difficulty saving for the necessary deposit and they haven’t been helped by rising real estate prices and first home owner grants restricted to new houses.
“The plan from Senator Xenophon deserves consideration and they can set parameters around it such as a maximum withdrawal from a super fund of $25,000.
“If first time buyers are allowed to access their super for a home loan deposit you might actually see people contributing more money into their fund, which will be beneficial to the superannuation sector.
Kolenda said first home buyers should also consider other options, like assistance from their parents.
“First time buyers who have minimal savings should realise they can get help from their parents or other family members to help secure a deposit,” he said.
‘Under the family equity guarantor’s support policy, parents or another immediate family member can help a first home buyer purchase a property.”
Xenophon's proposal is similar to schemes already in place in Canada, New Zealand and Singapore.
While 1300HomeLoans, the HIA and the Real Estate Institute of Australia have shown support for proposed changes to super withdrawal regulations, other <a href="/news/exclusive-should-australia-follow-canadas-home-buyer-plan-the-experts-have-their-say">industry experts have highlighted drawbacks to the scheme</a>, such as increasing house prices and depressed superannuation earnings.
For more on the debate:
<a href="/expert-insights/buying/xenophon-first-home-buyer-super-scheme-supported-by-mortgage-choice">Xenophon first home buyer super scheme supported by Mortgage Choice</a>
<a href="/news/reia-urges-government-to-allow-fhbs-to-dip-into-superannuation-for-a-home">REIA urges government to allow FHBs to dip into superannuation for a home</a>
<a href="/expert-insights/investing/its-time-to-re-think-first-home-buyer-grants">It's time to rethink first home buyer grants</a>
</body></html>

Mortgage broker network joins the call for super access for first home buyers

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Intelligent Property Services says recent Sydney auction price guidance is around 12.7% below actual sale prices.
"With the Sydney market getting off to a cracking start in 2014 we saw that agents and vendors’ price expectations were being regularly eclipsed," the general manager of <a href="https://www.ipsg.com.au/" target="_blank">Intelligent Property Services</a>, Ramon Mitchell, said. 
"We believe that price guides need to be more accurate, especially given the information available to agents and the large sums of money involved in property transactions. 
"Not only do real estate agents have a plethora of information available to them when they price each property, they are also supposed experts in their local area," he said.
A survey issued in August 2013 by Intelligent Property Services (IPS) reported that there was a variance of 13.1% between real estate agent price guides and the final auction result in Sydney, and<a href="/news/nsw/sydney-auctions-selling-15-3-above-price-guides-since-september"> a November 2013 survey showed the gap had got to 15%</a>.
The latest 30 auction sample selection, with tabulation undertaken by head of research at Intelligent Property Services, Joe Kotevich, was from Bondi in the east to Burwood in the west at auctions from $549,000 to $1.7 million.
The results ranged from 1.5% above to the largest variance at 26%, recorded for a $1,362,000 terrace in Alexandria’s golden triangle which had an initial guide of $1 million plus.
"Some sales are pushed significantly over expectations by exuberant bidders as evidenced by the oversized studio at 12/7 Ithaca Road, Elizabeth Bay selling for $725,000 which was a whopping $165,000 over reserve, some 24% above the original guide of $550,000," said Mitchell.
"Another recent example was at the sale of <a href="https://www.homehound.com.au/listing/withdrawn/nsw/sydney-region/eastern-suburbs/darlington-eastern-suburbs/72-ivy-street-darlington-nsw-2008/" target="_blank">72 Ivy Street, Darlington</a>. 
"With a price guide of $700,000 plus there was approximately 100 people in attendance at the auction. 
"After a slow auction bidding stalled in the $700,000’s and a vendor bid of $810,000 was used by the frustrated auctioneer; perplexing many in the crowd. 
"The dilapidated terrace then passed in at $811,000 and finally sold after negotiation for $820,000 – some $120,000 over the price guide."
Mitchell said with the traditional spring selling season fast approaching, "what better time for the industry to show greater levels of transparency in order to temper buyer frustration and to give them a better chance in picking the proverbial battles that they actually have a shot at winning". 
"Whilst our intention is not to infer that all properties are deliberately underquoted, nonetheless the impact remains the same.
"Whenever we ask prospective property buyers what they would rank as the most frustrating aspect of the buying process invariably the answer is the agent “lowballing” the price guide. 
"In our day-to-day role as buyers agents we regularly see selling agents give would-be buyers enticingly low price guides so as to bolster their auction attendance numbers. 
"Time and again we watch disappointed registered bidders walk out of auction rooms without even having had a chance to bid after having watched opening bids knock them straight out of contention," Ramon Mitchell said.
IPS will continue to monitor the market and track the results. 
Auctions numbers in Sydney are down this weekend with 416 properties scheduled to go under the hammer – 90 fewer than the 506 that were auctioned last weekend, according to Australian Property Monitors.
However auction numbers are well ahead the same weekend last year when 331 homes were auctioned.
"This continues the trend over recent months with 1,757 homes listed for auction over July well ahead of the 1,233 auctioned over July last year," APM senior economist Dr Andrew Wilson said.
The inner west will host 75 auctions followed by the south with 64, Canterbury Bankstown  with 45, the upper north shore with 42, the west with 41 and the city and east with 39.
The most popular suburb for auctions this weekend in Sydney is Blacktown in the west with eight followed by Bankstown.
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jchancellor-FAypfDUnLy

Add 12% to Sydney auction estimates to secure purchase: Intelligent Property Services

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Crown Resort executives have refuted silly Fairfax Media speculation that the billionaire James Packer was intent on selling the Barangaroo casino resort penthouse for a windfall $100 million plus.
The project’s award-winning architect Chris Wilkinson from <a href="https://www.wilkinsoneyre.com/projects/crown-sydney.aspx?category=asia-and-pacific" target="_blank">Wilkinson Eyre</a> told a business breakfast only last week that the top three floors of the proposed 270 metre tower would be an integral part of the six-star hotel.
Crown Resorts subsequently confirmed the top three floors would be reserved for the hotel’s “most prized international VIP customers".
News Ltd's John Lehmann noted this week that Fairfax were long-time critics of Barangaroo, although Property Observer would suggest perhaps less so since the effective abandonment of the urban affairs reporting unit formerly headed by the enthusiast Matthew Moore. Records show fewer than 25 urban affairs bylined articles this year in the SMH, compared to the same period in 2011 having close to 150 articles. 
This week Fairfax Media mischievously speculated a $100 million plus sale price would: "mean Mr Packer's company could recoup the entire $100 million licence fee it has paid the NSW government for the right to operate a VIP-only casino in the facility with a single apartment sale."
The resort is scheduled for a 2019 completion.
 
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Barangaroo casino penthouse not for sale: Crown Resorts

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Mortgage Choice has welcomed Senator Nick Xenophon’s plan to introduce legislative changes to allow first home buyers to access their superannuation savings for a house deposit. 
Mortgage Choice chief executive officer Michael Russell said he believed the proposal would help make a difference to thousands of Australians each year.
The changes to the Superannuation Act 1976 will be debated during the spring session of parliament.
The proposed changes are similar to a scheme, called the Home Buyers’ Plan operating in Canada.
Under the Canadian scheme, home buyers can access up to $25,000 for a first home.
Allowing these buyers to jump onto the property ladder sooner rather than later, the amount borrowed is then required to be paid back into the super fund within 15 years.
Michael Russell advocated the Xenophon scheme as likely to reduce the need for lenders mortgage insurance.
“While lenders mortgage insurance has a crucial role to play in assisting first home buyers into the property market, if the premium can be reduced by lowering the loan to valuation ratio, then this would seem to be in the best interests of buyers," Michael Russell said.
“First home buyers should be allowed to invest part of their super in their own bricks and mortar.”
Mr Russell said the money ought be reimbursed into the homeowners' super account either at the sale of the property or within 15 years – whichever comes first -  and include gains based on an appropriate index.
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Xenophon first home buyer super scheme supported by Mortgage Choice

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The Calder Freeway, which makes its way through central Victoria’s has contributed to a increase in capital growth and compared to other regional centres towns along this transit corridor are showing the strong appreciation.
For those unfamiliar with Victoria the Calder Freeway is the main road between Melbourne and Bendigo and links <a href="/news">Macedon</a>, <a href="/news">Kyneton</a>, <a href="/news">Gisborne</a>, <a href="/news">Woodend </a>and <a href="/news">Castlemaine</a>. There is also a matching rail service and both have been upgraded over the past decade.
House values in these areas have outpaced Melbourne, Ballarat and Geelong over the past five years.
The best growth was recorded in the Macedon Ranges Shire which includes Macedon, Kyneton, Gisborne and Woodend. Over the past five years house values have grown by 46.2%.
Following Macedon Ranges Shire was Mount Alexander Shire which is centred on Castlemaine. There house values have risen by 39.5%.
The further away from the Melbourne the area is the lower is the growth, presumably as there is less of a flow on from the metropolitan market.
In the City of Greater Bendigo values have risen by 38.4%, lower than Macedon Ranges but still well above the 28.4% recorded in Melbourne.
Interestingly values in Ballarat, with a rise of 33.9% have also exceeded Melbourne.
For many people, the attraction to these areas is highlighted by the availability of more affordable property coupled with a country lifestyle. The data shows that as a result of additional transport options in these areas it has made it more and more possible for people to maintain employment and undertake a tree change.
There are 573 auctions scheduled this week in Melbourne compared to 600 for the same time last year. This is a rare but minor 4.5% fall which does not reflect the fact that in the first eight months of the year there have been 29.5% more auctions than the same time in 2013.
The current regional variation in auction numbers should be taken into account when analysing the auction market as many sellers in the inner east appear to avoiding winter.
The main auction activity in Melbourne remains outside the inner eastern suburbs with 16 homes scheduled to go under the hammer in <a href="/news">Reservoir</a>, 11 in <a href="/news">St Kilda</a> and 10 in <a href="/news">Essendon</a>, <a href="/news">Melbourne</a> and <a href="/news">Preston</a>. For buyers looking in the more expensive inner east volumes are rising slowing with six expected in <a href="/news">Camberwell</a>, <a href="/news">Kew </a>and <a href="/news">Hawthorn East</a>.
The average time on market for houses sold last month rose slightly from 43 to 44 days. Vendor discounting contracted from -5.2% the previous week to -5% last week.
Key data
<ul>
<li>Clearance rate week ending 27 July: 68.5%</li>
<li>Melbourne auctions expected week ending 3 August: 573</li>
<li>Melbourne private sales time on market week ending 27 July: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 27 July: -5% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 27 July (seasonally adjusted)</li>
</ul>
Photo courtesy of Richmeister/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>.
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rlarocca-zWhvjay44N

Calder Freeway provides drive for growth: RP Data's Melbourne auction preview

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First home buyers are leaving the Australian residential market and the government must work to fix affordability, according to the Real Estate Institute of Australia.
The REIA’s CEO Amanda Lynch, at the Senate Economics References Committee Inquiry into Affordable Housing said that home ownership in Australia is falling and first home buyers are at record lows.
“Governments at all levels must address structural factors that reduce the responsiveness of supply to demand,” said Lynch.
“Projections from REIA’s recent roundtable at Parliament House showed the cumulative housing shortage is likely to increase from 100,000 dwellings in 2006 to 375,000 in 2015.
“Studies have found that the stability associated with home ownership ultimately contributes to positive social outcomes, such as improved education levels for children, better mental and physical health, and greater social connectedness and participation in local community and voluntary organisations,” she said.
Their recommendations include:
<ol>
<li>Assistance for first home buyers for both new and established property. 
</li>
<li>That international schemes, for instance releasing superannuation, be assessed and replicated. 
</li>
<li>Negative gearing be retained for investment to make the rental sector viable. 
</li>
<li>Conveyance stamp duties be abolished and replaced by a different source of revenue. 
</li>
<li>Time frames and release of land to be increased.</li>
</ol>
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Government needs to stem “exodus of first home buyers”: REIA

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Despite off the plan apartments increasingly attracting investor attention, from both Australian and offshore buyers, Parramatta’s Promenade has seen 74% of its current early buyers identify as owner occupiers.
The five-hectare waterfront development is on Parramatta’s northern bank, and of those providing a registration of interest deposit - $3,000 – the majority are looking to live in the <a href="https://www.promenadeliving.com.au" target="_blank">Promenade</a> development.
Irene Lau, a director of Savills Residential project marketing, said that it’s due to the focus on lifestyle from Starryland Australia developers.
“People appreciate that Promenade will provide a healthy lifestyle in which to raise their family, especially given its close proximity to quality schools, universities and hospitals,” she said.
“Promenade will also have expansive lush landscaping, tree-lined streets and a central square.”
It will include 1.2 hectares of landscaped foreshore open space.
The 12-storey building three hits the market on 2 August, offering 153 apartments.
Starryland Australia was established by the 23rd largest publicly-listed company in China, Fuxing Huiyu Real Estate Co Ltd. Promenade will be across 11 towers and 774 apartments in a $550 million project, and <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">Starryland’s first foray into Australia</a>.
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Parramatta Promenade bucks trend with 74% owner occupier interest

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The $150 million Mon Komo development in South East Queensland from Kyko Group has totalled $10.848 million in sales for the first half of 2014.
The multi-tower <a href="https://www.monkomo.com.au/" target="_blank">Mon Komo </a>complex on the waterfront, on the Redcliffe Peninsula, sold 19 residential and short stay apartments in the past six months – a balance of owner occupiers and investors – between both towers. Of the buyers, 75% were from South East Queensland or Brisbane.
<img src="/images/2014/07/29/redliffe-july-29-three.jpg" alt="">
TOTAL Property Group managing director and Mono Komo marketing manager, Adrian Parsons, said that Redcliffe has been an evolving area, and the new development at 99 Marine Parade is becoming a local landmark.
“It has become a vibrant beachside suburb, ideally positioned close to Brisbane city, Brisbane Airport and Moreton Bay Region, while still encapsulating the relaxed, bayside lifestyle it is well-known for. 
“It is also being dubbed one of Queensland’s top property hotspots and boom suburbs by respected property analysts – spurring interest in the local market,” he said. 
It appears it’s <a href="/news/qld/close-to-11-million-of-new-apartment-sales-recorded-at-mon-komo-development-redcliffe">a slow burn for the development</a>, in February noting that they’d sold $11 million, or 17 of the apartments, over three months.
Prices in Mon Komo’s residential tower start from $325,000, and include one-bedrooms from 82 square metres up to three-bedroom plus study penthouses of 247 square metres. Short stay apartments are available from $275,000, from one-bedroom 58 square metre properties to 170 square metre configurations.
<img src="/images/2014/07/29/Mon%20Komo%20at%20Redcliffe.jpg" alt="">
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