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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Confidence in the property industry continues to rise in New South Wales, according to the latest results from a survey of 2,300 property and construction sector professionals.
The state’s confidence was indexed at 143 for the September quarter in the Australian Property Confidence Index, with 100 considered neutral. Around 650 New South Wales property professionals were surveyed for the Property Council/ANZ Property Industry Confidence Survey.
Property Council NSW Executive Director Glenn Byres said the property industry is a driver of the “health and vitality” of New South Wales’ economy, pointing to gains from increased stamp duty receipts shown in the recent state budget.
“The industry has retained a rosy outlook and firmly re-established NSW as the most positive state in the nation,” said Byres.
“Forecasts for increased staffing levels, forward work schedules and state economic growth are all firmly planted on the right side of the ledger.
“There are some signs that the rapid increase in residential capital values may be easing – but like all other asset classes, it remains in the positive.”
David Cannington, ANZ’s Senior Property Analyst, says the state’s economy is expected to excel, underpinned by property and infrastructure projects.
“NSW confidence has increased sharply in the past 18 months to be at the highest level across all states and territories in the September quarter, reflecting the strong cyclical upswing in Sydney’s residential property market and solid foreign capital inflows to the NSW property sector,” said Cannington.
“We expect the NSW economy to continue to outperform over the next 12-18 months, largely driven by a solid pipeline of residential and commercial construction and increased state government capital expenditure on a number of large-scale infrastructure projects.
“Despite easing in recent months, housing sales and house price gains in particular remain strong, driving the September quarter outlook for the NSW property sector higher. Moreover, commercial property capital growth expectations remain positive in all sectors, driving expectations for cap rate compression across both prime and secondary grade office property in the coming year.”
Nationally, the Australian Property Confidence Index recorded a one point drop to 131 over the September quarter.
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jrichardson-uRX5hFdKfN

NSW property industry most optimistic in Australia: PCA/ANZ

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A triple tower residential, hotel and retail precinct in Fortitude Valley has been approved by Brisbane City Council, and is seeing international interest.
Perth-based development consortium Twin Ocean Group and Sunfire Asset are behind the creation at 188 Wickham Street, adjacent to Chinatown Mall, which will be of an end value of approximately $250 million.
The site has been static for more than two decades, and the new development on 3,000 square metres will include two residential towers, a high-rise hotel and a ground floor retail arcade linking the buildings. In total, 520 residential apartments and hotel rooms will be built.
<img src="/images/2014/07/11/188WickhamSt_3tower_view2.jpg" alt=""><img src="/images/2014/07/11/188Wickham_Pool_GymPodiumlevs2%20copy.jpg" alt="">
International hotel chains have enquired about the 25-level hotel, which will include 198 apartments. A formal marketing campaign has not yet begun.
Meanwhile, overseas, local and interstate investors have submitted expressions of interest for the residential apartments. The first stage, which includes 187 apartments, will begin in the third quarter of this year.
In this stage, one-bedroom apartments will be available for purchase from $375,000 to $450,000. Two-bedroom apartments will cost $555,000 plus.
Twin Ocean Group managing director, Tim Jones, said that they have been planning the project for more than 18 months.
“Our award-winning architects, Nettletontribe have drawn on their intimate knowledge of designing world-standard mixed use projects and the result will be an attractive investment for apartment buyers and retailers looking to live or do business, less than one kilometre from Brisbane’s CBD,” Jones said.
“Being located on Fortitude Valley’s southern perimeter, 188 Wickham Street will not only be a landmark development but act as the focal gateway into the Valley and Chinatown Mall. Our location is also very convenient being within walking distance to Brisbane’s business district and within a 200-metre radius of bus and train networks.  It will be an attractive proposition for Brisbane’s professional rental market.”
 
The site will include a residents’ lounge with Wi-Fi hot desks, a gym and a pool deck.
The first of the three towers to be built is the 30-level residential building with three podium decks, 187 one- and two-bedroom apartments and rooftop terrace.
The retain arcade expects to see international brand name retailers, dining areas and green walls.
The 25-level hotel will include 198 studio rooms, and the 24-level residential tower will include 135 apartments. These will be one- and two-bedroom offerings.
The project is expected to be complete in 2016.
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jduke-EHk3XBmHkn

Brisbane’s triple tower Fortitude Valley development sees international interest

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Construction on the former Yorkshire Brewery heritage site<a href="https://www.theyorkshire.com.au/index" target="_blank" style="line-height: 1.3em;"> </a>in Collingwood has begun with a six-storey complex with a mix of one and two and three bedroom apartments along with townhouses. 
It is a 358 apartment development in Melbourne’s inner northeast where the one bedders start at $455,000, the two bedrooms from $595,000, and townhouses from $700,000. The site was bought for $9.79 million in 2010.
The heritage site on Robert Street and Waterloo Road includes an 1887 six-storey brew tower - the tallest building in Melbourne for a decade on its construction in the late 19th century.
There will be a series of laneways that connecting into the nearby streets, with the tower forecourt acting as a piazza-like setting.
Working closely with Lovell Chen heritage architects, <a href="https://www.theyorkshire.com.au/index" target="_blank" style="line-height: 1.3em;">Hayball architects viewed the development as on the scale of a small village</a>, with its own piazza and shops. 
Interestingly two of the apartments – a one-bedroom and a two-bedroom – are being held back to be retained by the developer for the sole use of visitors of permanent block residents. The share apartments are billed as a worthy step up from share parking spots or cars which other developers have embraced.
A concierge will manage reservations for the guest apartments. 
Costs have been suggested as likely between $90 to $150 per night, including cleaning and utility services.
Stays will be capped at several nights for each visitor to stop long-term occupancies.
Martin Strode from SMA Projects conceived the novel idea which Victoria’s Urban Development Institute of Australia boss, Tony de Domenico reckons will work especially as Melbourne gets more international visitors.
Early buying interest has been from local empty nesters, second-home buyers and investors, visiting the display suite at 84 Wellington Street, Collingwood. 
HE SAID:<img src="/images/2014/03/28/jc-silhouette-7.jpg" alt="" style="float: right;">
It is a great idea especially given so many residents have one bedders and would like friends close, but not on their apartment floor or couch.
Visitors too will have their own privacy and space, but in close proximity.
The developer has to commit long term to ownership and then operating the arrangement otherwise it will become quite fly by night hazard. 
It's not for all, so it is important that usage charges would not be added to everyone's body corporate fees.
<img src="/images/2014/03/28/mb-silhouette-6.jpg" alt="" style="float: left;">SHE SAID:
It's a great idea... a bit like airbnb for the lazy. And of course a better return for the landlord developer.
Owner buyers will save money as they won’t need to spend more for that extra bedroom.
Getting a booking could be a challenge especially during the football season finals apparently and even over Christmas time in the heat of Melbourne summer.
I'd imagine the rates might need to get a bit more commercial, especially with the cleaning thrown in. 
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jchancellor-FAypfDUnLy

Designated guest apartments in new residential blocks: He Said/She Said

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The impact of land size on the value of and demand for a property is an interesting question.
Analysis of RP Data information comparing the sale price with the land area shows that location is still more important than size when comparing suburbs.
After all, a block of land that is twice the size and twice the distance from the amenities you desire is not likely to be as appealing as a well-located smaller one.
The value per square metre of houses in Melbourne’s million dollar suburbs demonstrates this.
<a href="/news">Toorak </a>is the city’s most expensive suburb for houses with a median sale price over the last year of $2.622 million. The average block size is however quite large at 8,232 square metres which translates to a cost of $3,187 per square metres. Interestingly, this is lower than the $6,274 in Albert Park and $6,074 in Middle Park and the median sale price is less than half that of Toorak
These two neighbouring suburbs have, compared to Toorak, very expensive land but this is more a factor of the small block sizes, at 2,092 square metres and 2,592 sqaure metres respectively.
At the other end of the spectrum is <a href="/news">Ivanhoe East</a>, a highly sought after suburb with a median sale price of $1.15 million; it has slightly larger blocks than Toorak at an average of 9692 square metres, again highlighting that location is the most critical factor.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/Land-size-table-blog.jpg" rel="wp-prettyPhoto[g3452]"><img class="aligncenter size-full wp-image-3453" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Land-size-table-blog.jpg" alt="Does land size matter? RP Data Melbourne Blog" width="518" height="252"></a>
Melbourne Auction Market preview for week ending 13 July
There are 527 auctions scheduled this week in Melbourne compared to 426 for the same time last year.
The Melbourne market has been delivering consistent results for sellers in the past four weeks with very little change in the weekly clearance rate.
A review of the change in house values on a suburban basis shows that the largest increase over the last year was found mainly in inner city suburbs. <a href="/news">Middle Park</a>, <a href="/news">Hawthorn East</a>, <a href="/news">Braybrook</a>, <a href="/news">Balwyn North</a> and <a href="/news">Praaran </a>comprised the top five with changes in median value of between 43.2% and 24%. For apartments the top five included <a href="/news">Caulfield East</a>, <a href="/news">Middle Park</a>, <a href="/news">Canterbury</a>, <a href="/news">Flemington </a>and <a href="/news">Spotswood</a>.
The average time on market for houses sold last month rose sharply from 35 to 40 days despite average discounting being stable at -5.3% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 6 July: 71.4%</li>
<li>Melbourne auctions expected week ending 13 July: 527</li>
<li>Melbourne private sales time on market week ending 6 July: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 6 July: -5.3% (houses)</li>
<li>Listings being prepared for market are 0.5% lower in month ending 6 July (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Does land size matter? RP Data's Melbourne auction preview

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Grocon has secured funding arrangements for its $110 million Bouverie Street Apartments development at the former Carlton brewery site in Melbourne.
Qualitas is an equity partner and Sumitomo Mitsui Banking Corporation, <a href="https://bouveriest.com.au" target="_blank">the project</a> debt financier.
Bouverie St Apartments follows the full sellout of Swanston Square apartments, Grocon’s first residential development at the site, which is due for completion early next year.
The 225 apartments and town houses in the Bouverie St Apartments development have attracted strong interest from investors, university students and young professionals, selling at a rate of 50 apartments a month. Prices start from around $379,000 through Colliers.
The development incorporates a winter garden designed by ARM architects which provides public access to covered gardens and retail tenancies.
Phil Lydeamore from Grocon Group Capital said there would be further development of another 0.9 hectares which remains over four sites.
Construction is now set to commence on Bouverie Street Apartments which are due to be completed early in 2016.
Grocon partnered with Studio 505 architects for design of the latest project.
Grocon paid the Royal Melbourne Institute of Technology $39 million for the 1.6 hectare former brewery in 2006.
A brewery occupied the site for more than a century, from about 1858 to 1987, having had houses on the block from as early as the 1840s. 
<img src="/images/2014/07/11/melbourne%20july%2011.jpg" alt="">
 
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Grocon's Bouverie Street Apartments securing 50 sales a month

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A new Centre for Independent Studies report, Eight Housing Affordability Myths, has sought to debunk key claims relating to the major drivers in the long-term price growth.
<ol>
<li>Myth: Lower interest rates make housing more affordable </li>
<li>Myth: House prices are a speculative ‘bubble’ </li>
<li>Myth: The supply of land is fixed </li>
<li>Myth: Housing is an unproductive asset </li>
<li>Myth: Australians invest too much in housing </li>
<li>Myth: Foreign investors are responsible for rising house prices </li>
<li>Myth: Domestic investors/negative gearing/capital gains tax concessions are responsible for rising house prices </li>
<li>
Myth: House prices are fuelled by a credit ‘bubble’/excessive leverage 
</li>
</ol>
Source: Centre for Independent Studies report, 'Eight Housing Affordability Myths' 
The reported noted the debate over housing affordability was typically conducted in zero-sum terms.
"First home buyers are pitted against investors and incumbent property owners, baby boomers against younger age groups," it noted.
The implicit assumption is that there is fixed housing stock to be carved up among these competing interests. 
"In principle, the housing market should be able to accommodate increasing demand without upward pressure on prices," Dr Stephen Kirchner suggested.
But he concluded the supply side of the housing market had been taxed and regulated to the point that supply has not been able to keep pace with demand, leading to higher house prices. Rising real house prices have become a secular phenomenon, with the cyclical variation in house prices taking place around this rising trend. 
"Each of the housing affordability myths reviewed and debunked here serves to distract public policy from an increased focus on improving housing supply. He concludes many of the policies pursued by Australian governments in the name of housing affordability, such as first home buyer grants and concessions, increase demand for housing, while failing to tackle regulatory and cost barriers to housing supply."
The report noted new land supply had declined by an average 21% across Australia’s five largest capital cities in the past decade, pushing prices up by an average 148% to $504 per square metre.
"This report seeks to tackle these myths in an effort to improve the quality of public debate about housing affordability," Dr Stephen Kirchner said, adding housing affordability is a relative rather than an absolute concept. 
He also suggest it was also meaningless to assert that house prices are driven by ‘speculation’.
"Few people buy or invest in housing with the expectation of making a capital loss. 
"In that sense, every decision to buy (or not to buy) property is speculative. 
"As Ludwig von Mises observed, ‘Every action is a speculation, i.e., guided by a definite opinion concerning the uncertain conditions of the future.’
"The belief that housing markets are driven by ‘speculation’ misunderstands the role of speculation in an economy and encourages the pursuit of demand-suppression and diversion policies on the basis that prices are disconnected from fundamentals."  
<a href="https://www.cis.org.au/images/stories/issue-analysis/ia146.pdf?utm_source=140708+Media+Release+Housing&amp;utm_campaign=140709+MR+Housing&amp;utm_medium=email" target="_blank" style="line-height: 1.3em;">The report</a> by Dr Stephen Kirchner noted home ownership had eased from 71% of households in 1995 to 67% in 2012.
Dr Stephen Kirchner, a research fellow at The Centre for Independent Studies and senior fellow with the Fraser Institute, also posted a <a href="https://www.youtube.com/watch?v=VowSAoV0bw4" target="_blank">YouTube video</a>.
Bob Day, Saul Eslake, and Cameron Kusher helped guide his thinking.
{qtube vid:=VowSAoV0bw4}
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Eight housing affordability myths debunked: CIS

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Capital growth is outstripping increases in rent in most capital cities, with yields falling in Sydney, Melbourne, and Brisbane despite rental growth, according to new report from Australian Property Monitors.
Despite a record high median asking rent of $510 for houses, up 2% from June last year, Sydney’s gross yield for houses dropped 4.6% in the past 12 months. A similar trend was recorded for Sydney units, with 5.3% rental growth for the year against a 5.6% decrease in yields.
Melbourne also saw a decrease in yields despite rental growth, with the median asking rent for houses increasing 5.6% in the last year to $380. The gross yield for houses in the city fell by 2.8% over the same period. While asking rents for units were up 2.8% over the 12 months to June, yields remained static.
In Brisbane, house rents are up 2.6% from last year to $400, while yields have fallen by 1.8%. However, Brisbane’s houses are still showing a higher yield than any other capital city. For units, rents increased by 2.4% over the year, with yields down by 2.8%.
{plotalot id="18"}
Falling yields were also recorded in Perth, which has a median asking rent of $460 for houses, and Canberra, which has a median asking rent of $450, with a 5.8% and 5.6% drop respectively. Rents  for houses fell in both those cities over the year.
Despite a 5.8% decrease in rents over the year for houses and a 7.8% fall over the quarter, Darwin recorded 1% yield growth for the year. However, the city’s gross rental yield did fall in the quarter to June by 1%. A markedly different result was recorded in the city’s unit rental market, with the median asking rent is up on a yearly basis by 5.8% but yields down by 4.6%.
{plotalot id="19"}
Adelaide’s asking rents increased by 1.5% and 1.8% over the past year for houses and units respectively. Yields for houses were up 2% for the year, while unit yields increased by 4.1% over the same period.
Hobart’s house market showed no rental growth over the past year or quarter, though the median asking rent increased by 4% for the year. Despite the median asking rent for houses remaining unchanged over the year, the city’s houses saw a 4.8% increase in yields, reflecting falling house prices. Gross unit yields were also up for the year, by 3.9%.
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Yields falling in most capital cities: APM

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The Australian Property Confidence Index recorded a one point drop to 131 over the September quarter, however confidence across both residential and non-residential sectors remains strong.
This is particularly the case for New South Wales, however Queensland and Tasmania also increased over the quarter.
The ACT is noted as the only state or territory recording soft confidence – it’s recording a result of 101 on the index.
ANZ Research’s Warren Hogan and David Cannington note that this reflects house prices as well, with every state and territory to perform – except for the ACT.
“Confidence across the property industry hardly moved at all through the winter months and remains at a high level,” they explained.
“The residential sector is still the strongest part of the industry with construction activity and price expectations buoyant even though price expectations have softened this quarter in line with lower auction clearances.
"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.”
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Prices expected to increase across Australia, but not ACT: ANZ

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Melbourne currently has over 12,600 apartments under construction, expected to hit the market over the next three years, as well as other projects in the pipeline.
However, despite this high figure, Knight Frank’s Melbourne Apartment Market Update Residential Research has found that rents are increasing and vacancies are actually falling.
Over the past 12 months, the vacancy rate fell to 2.8% in May, a 0.4% drop, while rents increased to $390 per week. The average rental yield is currently 4.51%.
Over the past decade, the average has increased from 2.1% to 2.8% due to high construction in the apartment sector, however this is dropping back over the 12 months to May 2014, as recorded by the REIV.
Residential project marketing associate director for Knight Frank, Daniel Cashen, said that foreign investors continue to favour Melbourne.
“Growth from Asia has been underpinned by our great infrastructure, world class secondary and tertiary education and the reputation we have retained over the years as the world’s most ‘liveable city’,” said Cashen.
“Encouraged by urban renewal and migration towards inner city living, the CBD and inner/ north-west has witnessed a significant number of medium-high density apartment projects built to support this population growth; with presales continuing to support further projects,” he said.
As of March 2014, apartments across Melbourne’s metropolitan area saw 5.9% annual growth, to a median value of $454,000. Over the next five years, a 4% per annum result is expected.
“Highest capital growth was experienced in the Bayside/Frankston region at 7.3% over the last year, closely followed by north-east at 7.2%; while both realising a median value of $486,000,” he said.
Melbourne’s south-east has also increased – with 7.1% growth to $453,500. The CBD and inner/north-west region was subdued at 3.2% compared to the rest of Melbourne, however Cashen notes expectations are for 5% growth per annum for the next five years.
Interestingly, this is where 64.7% of apartments currently under construction are located.
Residential research association director Michelle Ciesielski said that the population growth has seen a 2.1% uptick on average over the past 10 years, with projections this will continue to 2029.
“Due over the next three years, there are just over 12,600 apartments currently under construction in metropolitan Melbourne, with a number of significant projects still proposed in the pipeline,” she said.
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Currently 12,600 apartments under construction in Melbourne, but vacancies reduce: Knight Frank

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New residential development Light House from Melbourne developers Hengyi in a joint venture arrangement with Sixth Grange will bring 607 apartments to the CBD, and has already seen 75% sell. The Elenberg Fraser-designed<a href="https://%20www.lighthousemelbourne.com.au" target="_blank"> Light House</a> project includes one, two and three bedroom apartments over 69 levels.
On the corner of Eizabeth and Franklin Streets it offers 360 degree views, a 25-metre lap pool and a private dining room/cocktail lounge. Light House saw three quarters sell prior to retail launch, and is expected to begin construction later in 2014. Completion is expected for 2017.
The apartments are being sold through Colliers International.
It appears as though the early sales success may have much to do with launching offshore before releasing the properties to the Australian market, although the majority of the sales are said to have so far been to Australia-based buyers.
Advertising material references a “first launch” in Malaysia over one April weekend. Prices were recorded as starting from $368,000.
Hengyi is an affiliate of Shandong HYI, noted as one of the most affluent in China.
One-bedroom, one-bathroom apartments are currently advertised as from $360,000, with two-bedroom one-bathroom from $458,000 and three-bedroom two-bathroom from $800,000.
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