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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The latest price data tends to support my view that we have not had, to this point, a national property boom; and that we may be about to have one.
Australian Property Monitors’ price data for the June quarter suggests only Sydney has had exceptional pride growth, both for houses and for apartments. All other capital city markets have had growth ranging from negative to low to moderate.
The APM figures are generally (though not completely) in line with those published by RP Data.
Let’s look at houses first. In terms of annual growth to the end of June, both data sources report a capital city average a little above 10%. Economists have looked at that and perceived a national boom, which provides further evidence of how desperately dumb they all are, on property matters at least.
Looking city by city provides a different perspective. Only one city has achieved the city average growth rate. Sydney’s annual growth was 16% (RP Data) or 17% (APM). The property boom starts and ends there.
Both sources agree that Melbourne has grown close to 10%, Brisbane around 7% and Perth around 5%. Depending on which source you prefer, Adelaide has grown 3% or 5%, Hobart 2% or 6%, Darwin 5% or 1%, and Canberra has grown 3% or dropped slightly.
There’s a similar pattern with apartments. The capital city average is annual growth of 8.3% (APM) or 9.1% (RP Data). But the only boom figures have been in Sydney, up 12% or 13%.
Melbourne has risen 4% or 5%, Adelaide about 1% and Darwin 7% or 8%, while Perth is up 5% if you believe APM or more if you favour RP Data.
There’s conflict with the data on the other three capital cities: Brisbane is up 5% or down 1%, Canberra is up 4% or down 2%, and Hobart is up 7% or down 8% - for reasons I don’t understand, there is always this great contradiction about the Hobart unit market in the figures from the two competing sources.
The bottom line is that there is no boom in those figures, except for Sydney. There is evidence aplenty of solid markets in most cities, but the growth rates are low to moderate (and, in a few cases, negative). Keeping in mind that there were several years of falling values pre-2013, the data makes nonsense of the bubble arguments from those suffering from limelight deficit disorder.
So no national boom – but, if you look more closely, evidence that one may be brewing. Looking at APM’s annual growth figures for the cities, if you compare the 30 June 2014 numbers with those six months earlier, you find that the growth rates have improved in most cities.
Adelaide grew only 3% in 2013 but six months later the annual growth rate has doubled.  Brisbane’s growth rate is up from 5% to 7%. The annual growth rates for Sydney and Melbourne have both grown two percentage points. Hobart has improved from 5% to 6%. Perth, Darwin and Canberra have deteriorated, but the city average has risen from 9.8% to 10.9% in six months.
According to the APM figures, all capital cities except Darwin showed improvement in their median house prices in the June quarter.
Similarly, most of the cities delivered growth in their apartment markets in the June Quarter, with an average rise of 2.5%. Only Hobart and Canberra fell.
The overall picture, therefore, is growth rates that are moderate - but rising.
Housing finance approvals are up 10.7% for owner-occupiers (with all state and territories rising strongly except the Northern Territory) and 27% for investors (with five states/territories recording annual rises above 13% and six states/territories recording monthly rises of at least 14% in May, the latest month for which we have figures).
Residential building approvals rose 17.4% in the 12 months to the end of May, with five states or territories recording annual rises above 20%.
There’s a pattern there suggests growing national momentum in property markets. The national price boom that was incorrectly perceived by myopic economists, and then inaccurately declared dead by those who rush to judgment, may be only just beginning.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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terryryder-YECXbqmri2

National price boom may be about to begin

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A 9% surge so far this year in Sydney's south-west helped the Sydney median house price edge through the $800,000 barrier to an all-time high of $811,837, according to the Australian Property Monitors June quarterly house price report. 
Sydney apartment prices outpaced house prices over the June quarter, up by 3.9% to a record high of $573,255, with the northern beaches the strongest region with prices up 9.4% so far this year.
For once there was no great divide between Sydney's so-called Silvertails and Fibros.
Sydney house prices were up almost $118,000 annually, or a $2,200 a week, without the eastern suburbs being on board.
Sydney's overall 3.1% June quarter increase took the 2013-14 financial year house price growth to 17%, well beyond the nearest capital rival Melbourne with a 10% rise in house prices to $607,700.
With a 13.3% annual hike, Sydney apartment prices were up $67,000 annually, or $1,300 a week.
While less than the December 2013 quarter high watermark for Sydney's current growth cycle, Dr Andrew Wilson, the APM senior economist with the Fairfax Media Domain group, said the Sydney housing market remained the "standout" capital city performer with another strong quarterly result.  
The national median house price increased by 1.9% over the quarter, the same result as the previous quarter to $627,940.
 The national median unit price recorded a sturdy rise of 2.5% to $473,385 which was higher than the 1.6% increase of the March quarter.
But while Sydney unit prices up 13.3% over the year, the Melbourne apartment market reported just a 0.7% increase over the quarter to be up by 4.0% over the year at $419,639.
Recording eight consecutive quarters of house price growth, the Brisbane housing market continues to gather momentum.
Over the June quarter, the Brisbane median house price increased by 1.5% over the quarter with the Brisbane median house price now at a new record level of $477,352.
Brisbane house prices increased by 6.9% over the year ending June which was the highest annual result for the city in four years. But Brisbane unit growth was no where near as strong.
The weakest apartment market in the country is Canberra.
The significance of the latest data is the increasing return of Sydney being the engine room of Australia's property price growth.
Back in 2003, Sydney's median house price was more than double Perth's, but the price gap narrowed to within 6% during late 2006. 
Perth's median was $491,000, in contrast, Sydney's median price at $520,000 in late 2006.
Then around late 2010 Melbourne was fast closing the gap on Sydney as Australia's most expensive city to buy a house, with its median price around $89,000 less.
There is now a $204,000 gap between Sydney and Melbourne, some 25% higher, and a $192,000 gap between Sydney and Perth, some 23% higher. 
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Source: Australian Property Monitors.
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jchancellor-FAypfDUnLy

Price surge for south-west fibros and northern beaches silvertails sees Sydney sprint away from the rest of the capitals

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Hi Margaret,
I have already met eligibility requirements to buy a property with my First Home Saver Account (FHSA) money. 
Do you know whether i still have to meet the 'live in the property for at least six months over the next 12 months' requirements given the 12 months will extend beyond the date that this rule is abolished?
Regards,
FHB
Margaret's answer on the next page. Please click below.
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Hi FHB,
The First Home Saver Account (FHSA) was an initiative by the federal government to boost the savings of first home buyers by providing incentives via an additional deposit and tax advantages to this account as long as you placed your own savings in it. 
The rules were simply that you use it only on your first home, do not draw anything out of it for four years, and pay at least $1000 a year into the account over at least four years. In return the government made a 17% contribution on the first $6,000 and only taxed any earnings at 15%. The funds from your first home saver account could only be used to buy a property you intended to live in. The occupancy rule stated that you must live in the home for at least six months and it must be your main residence.
The six-month period must start within:
<ul>
<li>12 months of you becoming the home owner (from settlement date) or;</li>
<li>12 months from the day construction was completed if you are building a home</li>
</ul>
If you failed to use the funds on your first home, it had to be rolled over into superannuation.
However these accounts did not take off as expected and so the following changes will occur:
<ul>
<li>Accounts opened after 7:30pm Tuesday 13 May 2014 will not be entitled to the government contribution</li>
<li>Existing account holders will not be eligible for a government contribution on personal deposits after the 2013-2014 financial year</li>
<li>Tax and social security concessions will cease 1 July 2015</li>
<li>Restrictions on withdrawals will be removed on 1 July 2015</li>
<li>First home saver accounts will be abolished on 1 July 2015</li>
</ul>
Having said all of that, as of today the accounts are current and this means that the requirements are current.  Since ‘living in the property for six months starting sometime within the first 12 months’ could potentially mean that your six months might feasibly start after the abolition of this rule, one would expect that it would no longer apply at that date. 
However, as you would be accessing the funds during the time that the scheme is still current, you will most likely be required to fulfill your obligations and start living in the property, staying there for the full six months, regardless of when this falls.  The government has provided the benefit and so you should follow the rules relating to that benefit.
If I were you I’d make a call to the Office of State Revenue in your state and clarify their position.  If they do, be sure to get it in writing so that you can prove that this is what you were told, if questioned at a later date.
Regards,
Margaret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Do the First Home Saver Account eligibility requirements still apply?

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Parramatta has long been seen as one of the most significant growth areas in Sydney.
It’s on a major train line, has every amenity that can be thought of – serviced by a huge Westfield – and takes just 25 minutes to get to Sydney’s Central station.
Attracting big name developers, such as <a href="/expert-insights/buying/slab-to-be-set-on-highest-residential-tower-in-parramatta-v-by-crown-today">Crown Group with their recent V by Crown development</a>, and many offshore developers taking their first steps into the Sydney market, it’s a behemoth.
The bullish growth-orientated council in July 2010 released a report called <a href="/news">Parramatta – Australia’s next CBD</a>, and many would agree that four years on they’ve achieved that aim or are close to it.
In fact, turning to their property prices a clear picture of growth emerges. In January 2010, <a href="/news">RP Data recorded the median house price at $544,000</a> and the median unit price at $350,000. Those medians have now risen to $712,500 and $471,125 respectively. This is indicative of both increasing demand and willingness to buy in Parramatta, and high standard developments bringing prestige apartments to the market. Median weekly advertised rent sits at $460 for a house and $440 for an apartment.
It’s not even done yet – with several more billions of dollars to be poured into developing Parramatta, and the tallest residential tower in Australia slated for the city.
This wasn’t a surprise hotspot. While some were suspicious of the area 10 years ago, the last five years have seen many buying in, suggesting that it’s a worthwhile place to consider and many a property industry pundit has recommended it to their nearest and dearest in the past.
Yet, with prices becoming too high for the majority of investors, understandably, this has many turning elsewhere for opportunities – particularly as growth has already occurred and discussions of Sydney’s slowdown are being heard.
At the Sydney Home Buyer and Property Investor show, Property Queensland Pty Ltd had the slogan ‘Ipswich – Brisbane’s Parramatta’ on their stand, boasting strong yields and opportunities for investors.
<img src="/images/2014/07/21/home-show-july-21-two.jpg" alt="">
Taking it to the data first, <a href="/news">RP Data currently puts Ipswich’s median house price at $309,000</a>. In 2010, this was $332,000. The data for units is statistically unreliable (across the statistical area of Ipswich, the latest available data from the Australian Bureau of Statistics notes that less than 2.5% of the dwellings are apartments).
It’s worth remembering the floods that ravaged the area in 2011, and are likely behind some of the subdued prices. Median weekly advertised rent sits at $280.
Todd Hunter, director and buyer’s agent for Cronulla, Sydney agency wHeregroup, has been buying in Ipswich for several years.
This property (pictured below) was purchased by Hunter for a client in 2012. It was bought at $274,000, settling in September of that year, and is currently rented at $340 per week – or 6.45% rental yield.
<img src="/images/2014/07/23/P1180862.JPG" alt="">
Unsurprisingly, he’s keen on the area for his clients as it fits his investing model – below $300,000, high yielding properties in his discovered growth areas.
“Ipswich offers the ability for those who live there to work in the Ipswich CBD as well as the new developing Springfield Lakes Business Park,” he explained to Property Observer.
“Now with the new train line opened in Springfield and Springfield Lakes, this will attract those access to travel into the are for work.”
Yet he concedes it’s not as big as Parramatta, despite both attracting more businesses caring for lifestyle, as well as business and corporate-type industries.
“NEC is one company that sees the benefits of what the area has to offer. And with Orion shopping centre across the road, it allows those working there to enjoy the benefits of having nice places to enjoy their lunch and shopping,” he explains.
Article continues on the next page. Please click below.
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But can Ipswich really be equated to Parramatta?
Property Queensland Pty Ltd managing director Graeme Shiels provided Property Observer with the following points as to why he considers Ipswich equitable to Parramatta.
<ul>
<li>Their CBDs are both "cities within their city" 
</li>
<li>They are both in the western suburbs 
</li>
<li>Decades ago, those who lived in Sydney's western suburbs were known as "westies" and lived in low-priced properties 
</li>
<li>Parramatta CBD then emerged to what it is now and some dwelling are well over the $1m mark 
</li>
<li>Ipswich CBD has commenced this emergence with new buildings going up and is the hub of this region which is about half the km2 of the ACT 
</li>
<li>The Qld govt is transferring thousands of public servants from Brisbane to the Ipswich CBD 
</li>
<li>North Ipswich now has the equivalent of a Westfield regional shopping centre 
</li>
<li>Amberley has the RAAF's biggest air base in Australia 
</li>
<li>A 188 hectare aerospace business park commences construction this year next to the RAAF base, to become the biggest maintenance facility in Australia</li>
</ul>
He also believes that the distance from Parramatta to Sydney, and that from Ipswich to Brisbane, is crucial – he provided the image below expressing this.
<img src="/images/2014/07/23/IpswichOverlaidOnSydney%20L.jpg" alt="">
Shiels' research, which he notes has been his ongoing project for 10 years, also cites well-known property commentator Michael Matusik, as does the Ipswich council.
In 2003, Matusik's 'The Matusik Snapshot' said: "Ipswich has the capacity to be the Parramatta of SEQld ... has large tracts of relatively cheap land and now, with a pro-active local council and state government incentives, Ipswich looks set to deliver."
Ipswich's potential has clearly been on the radar of many for some time - despite 2003's Parramatta being vastly removed from that we see today. 
However, Ipswich was recently seeing many people making a loss. <a href="/expert-insights/buying/losses-seen-in-all-brisbane-regions-for-march-quarter-with-ipswich-the-biggest-loser">RP Data’s Pain and Gain report saw no Brisbane municipalities escape losses</a>, and in fact Ipswich saw the most loss making sales – with 19.2% of those sold in the March quarter doing so at a loss. The median loss was recorded at $21,000. Painful numbers indeed.
And yet, from previous research, it <a href="/news/qld/suburb-spotlight-ipswich-picks-up">does seem the area is picking up</a>.
Observer <a href="/news/qld/ipswich-dominates-brisbane-property-market-and-is-poised-for-strong-growth-terry-ryder">Terry Ryder has also put his thoughts to the area</a>, some two years ago, suggesting growth would be strong.
“The Ipswich corridor is well-known around Australia as a growth region. It became popular with investors in the mid-noughties for its cheap prices and above-average yields, and prices rose strongly in the five years to 2010,” he explained in 2012.
“Big infrastructure developments like the $2.8 billion upgrade of the Ipswich Motorway (officially opened in May) and the $1.5 billion rail link to the Springfield master-planned community are adding to the area’s appeal, as is the ongoing emergence of major jobs nodes, such as the commercial components of Springfield, big industrial estates like Citiswich and the expanding RAAF Base at Amberley, just outside Ipswich,” he said.
Taking the debate to Twitter, it saw some warning of floods in the region. Certainly something to avoid, and <a href="https://www.ipswichplanning.com.au/flood-map-information" target="_blank">easily done using these Council flood maps</a>. It's also notable that there's a distinct lack of higher density dwellings than seen in Parramatta - something that has recently come to define Sydney's second CBD.
So does it offer potentially good investment prospects? If you buy well, it does seem to offer lower priced, higher yielding prospects.
But is it able to be equated to Parramatta just yet? The jury is out.
{module Do you think Ipswich has the potential to be Brisbane's Parramatta?}
Picture courtesy of Wikimedia Commons/Clarebear/ <a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
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jduke-EHk3XBmHkn

Is Ipswich the next Parramatta?

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The weekend's cheapest Sydney sale was at Narellan in the Camden municipality.
The $418,000 sale was its first since 1977 when it sold for $9,000.
The price growth topped 10% per year over the 37 years' ownership.
<a href="https://www.homehound.com.au/listing/for-sale/nsw/sydney-region/macarthur-camden/narellan-macarthur-camden/23-rudd-street-narellan-nsw-2567/" target="_blank">Combined Real Estate Narellan</a> marketed the property as bequested to a childrens' charity, so they were not charging any commission for the purpose of the auction.
The <a href="https://www.onthehouse.com.au/reports/property_profile/14597180/23_Rudd_Street_NARELLAN_NSW_2567/" target="_blank">onthehouse</a> price estimated was prior auction given as $370,000 to $470,000.
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Narellan cottage yields 10% annual price growth for charity 

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Wayne and Jane Hawkes - of the well-known Hawkes Racing family - sold their Essendon property last weekend for $63,000 over reserve.
There were four bidders on the Hawkes' <a href="https://www.domain.com.au/property/for-sale/house/vic/essendon/?adid=2011265279" target="_blank">modern three-bedroom house</a> at 155 Bradshaw Street.
It is a three bedroom plus study home.
 It sold for $1.158 million through agent Lou Rendina.
<a href="https://www.realestate.com.au/property-house-vic-essendon-104904169" target="_blank">The building block was sold in 2008</a> at $915,000.
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Hawkes racing clan in Essendon sale

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Residential construction activity is expected to remain strong in the coming year following a considerable rise in new housing starts in the year to March 2014.
The value of new housing starts rose by 8.7% in seasonally adjusted terms in the March quarter compared with the previous three months, the Australian Bureau of Statistics reported. Compared with the March quarter of 2013, new housing starts were up by 22%, the ABS reported.
Housing Industry Association chief economist Harley Dale said the increase included a 12.8% surge in detached houses.
“The annual level of new dwelling commencements is at its highest since late 2010 and at 176,891 is approaching historical peaks, with further upward momentum to come,” Dale said.
Dwelling commencements increased in all of the states and territories, except South Australia, where housing starts fell by 7.8%.
The strongest increase was in the Australian Capital Territory (31.6%), followed by Victoria (15.4%), Western Australia (12.1%), the Northern Territory (5.9%), Tasmania (5.3%), New South Wales (2.5%) and Queensland (1.3%).
The value of residential building work done in the March quarter also rose, the ABS reported.
Residential building work done in the March quarter was up 7.6% compared with December quarter and up 8.5% compared with the previous March quarter, the ABS reported.
Forward sentiment indicators for the residential construction sector are also strong with the latest Property Council-ANZ Property Survey finding construction businesses expect strong activity in major metropolitan centres to continue over the next year.
Overall, expectations for the September quarter moderated, the Property Council-ANZ Survey found. That was in line with a decline in home building approvals data reported by the ABS.
The property sector remained optimistic about the outlook for the coming year, although construction activity expectations peaked in the June quarter, the Property Council-ANZ survey showed.
ANZ chief economist Warren Hogan said the industry’s optimism was driven by strong underlying housing market demand, a solid pipeline of building activity and expectations of further cyclical improvement in economic conditions.
The residential sector was still the strongest part of the industry with construction activity and price expectations buoyant even though price expectations had softened in line with lower auction clearances, he said.
“House prices now appear to be settling down to more sustainable growth rates. House prices are expected to rise over the next 12 months in every State except the ACT,” Hogan said.
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zfielding-GvX3Uq9KTa

Residential construction activity going from strength to strength

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The Victorian government is considering introducing minimum apartment sizes.
It may ban any new studio flats being smaller than 37 square metres.
The proposal under consideration by the Planning Minister Matthew Guy also mandates that 50 square metres would be the minimum for any new one bedroom unit.
A recent Melbourne City Council report shows some of Melbourne's newest developments are 10 times as dense as permitted by law in many other urbanised centres.
It suggested 40% of the city’s newest apartments are smaller than 50 square metres, satisfying only the needs of overseas investors at the expense of residents, according to the Melbourne City Council’s draft housing strategy.
Melbourne City Council's director of city design, Rob Adams even suggested the volume of apartment approvals and their density on city blocks meant Melbourne risked becoming like "Hong Kong without the spectacular setting".
Describing the developer trend to micro apartments of even as small as 18.5 square metres as ''rampant exploitation of renters,'' Michael Buxton, professor of environment and planning at RMIT University, recently noted apartments were shrinking in size with profit the primary motive.
“Five year ago the average size of an apartment was 60 square metres.
“Now its between 42 and 45 square metres and falling. ” he advised.
Tom Alves, a senior adviser at the Office of the Victorian Government Architect and chairman of the working group drafting the standards, told the Australian Financial Review the agency desire to improve the quality of apartments came after consultation with the City of ­Melbourne, local councils and lobby groups.
A reference group was chaired by Victorian government architect Geoffrey London.
Mr Guy said his department was considering the proposals for micro apartments.
“This review will include industry consultation and assessment of impacts on construction cost and ­housing supply,” he told the AFR.
Property professionals are invited to sign up for the <a href="/news">upcoming Property Observer webinar on Off the Plan Marketing and Sales Masterclass</a>.
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No more shoebox apartments? 37 square metre minimum size under Victorian government consideration

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Harry Triguboff's Meriton intends to amend approved plans for an 18 storey development in Dee Why, adding another storey to the mixed-use towers.
Formerly known as the Brookfield Multiplex site, the plot's previous owners had their plans approved in 2008. As works in accordance with those approved plans have been undertaken on the site, the council consent remains active.
Although Meriton plans to build a 19 storey development, the developers plan to keep the towers under the same 78 metre threshold. The company also wants to fit a greater proportion of residences into the site, and make changes to parking provisions and vehicle access.
In 2004, a masterplan with guiding principles for the site's development was put forward, including plans for a new Town Square.
The site is bounded by Oaks Avenue, Howard Avenue and Pittwater Road in Dee Why (pictured above).
The council is accepting public comment on Meriton's proposals until <a href="https://yoursaywarringah.com.au/planning-proposal-meriton-site-howard-avenue-dee-why-site-b-2014" target="_blank">4 August at their website</a>.
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Meriton files plans for Dee Why development

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The housing shortage is a much-lamented problem and BIS Shrapnel’s latest Building in Australia 2014-2029 report suggests that we may continue to feel its effects for some years.
While a record-breaking recovery in housing construction was discovered to be underway and a new high of homes being constructed is expected to be reached – many of them in apartment towers – it will not close the housing shortfall until 2018 if their forecasts are correct.
BIS Shrapnel’s associate director Kim Hawtrey said that new housing starts are forecast to reach 190,000 in 2014/2015, surpassing 187,000 seen during 1994.
”In the next two years we’ll also see the recent emphasis on highrise units continue. Currently two highrise apartments are being built for every five detached houses, which is double the historical rate of one apartment for every five houses built,” said Hawtrey.
However, strong population growth has driven pent up demand, growing at 1.7% per annum.
“Home building has been punching below its weight for about a decade, and has not kept pace with population growth for some time now,” he said.
They estimate a deficiency of 100,000 dwellings at present. This is based on household formation per thousand head of population.
”We estimate that it will take the next five years to eliminate the unmet demand for housing. We therefore do not see this housing shortfall closing until 2018,” said Hawtrey.
This is even despite an expected slowdown in population growth.
”Investors and upgraders/downsizers are driving demand in this cycle,” said Hawtrey. “First home buyers are still largely on the sidelines.”
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