<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.</p>

<p>"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.</p>

<p>"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.</p>

<p>"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.</p>

<p>"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360975]</p>

<p>While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.</p>

<p>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.</p>

<p>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.</p>

<p>The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.</p>

<p>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.</p>

<p>The city's entrepreneurial culture is also translating into business growth.</p>

<p>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.</p>

<p>Development activity remains another key indicator of confidence.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=112024 project_image_fid=343235]</p>

<p>Importantly, the report notes the next phase of investment will need to extend beyond residential development.</p>

<p>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.</p>

<p>Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365786]</p>

<p>Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372743]</p>

<p>Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.</p>

<p>"What we are seeing is a shift in how people define value in property," Bakir says.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372744]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372742]</p>

<p>A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.</p>

<p>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.</p>

<p>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.</p>

<p>Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.</p>

<p>[smartcode_project_cta:default project_id=150414]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.</p>

<p>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.</p>

<p>"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.</p>

<p>"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."</p>

<p>Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.</p>

<p>"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.</p>

<p>"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."</p>

<p>Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.</p>

<p>"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.</p>

<p>"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p>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.</p>

<p>"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.</p>

<p>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.</p>

<p>Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.</p>

<p>"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.</p>

<p>"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."</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372212]</p>

<p>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.</p>

<p>"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.</p>

<p>"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372227]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372225]</p>

<p>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.</p>

<p>The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372222]</p>

<p>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.</p>

<p>Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.</p>

<p>"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.</p>

<p>The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.</p>

<p>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.</p>

<p>Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.</p>

<p>"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.</p>

<p>"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."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=146717]</p>


Lowe Living launches Jardin House in Camberwell

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6395]</p>

<p>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.</p>

<p>Rothelowman says the site itself shaped much of the architectural response.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6399]</p>

<p>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.</p>

<p>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.</p>

<p>Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=353235]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6390]</p>

<p>“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.”</p>

<p>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.</p>

<p>ALAND has commenced construction, and is expecting a completion date in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


The Walden pairs house-scale living with North Sydney connectivity

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>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.</p>

<p>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.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"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.</p>

<p>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.</p>

<p>“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.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“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.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“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.”</p>


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

<html><body>
<p>Hindmarsh, a national property development company, has launched Zest, a Brisbane project in the Kelvin Grove Urban Village precinct that will bring 144 apartments to market.</p>
<p>Each apartment will have either an outdoor courtyard or a balcony with a 600 square metre rooftop terrace and views to the city. The <a href="https://zestkelvingrove.com.au/" target="_blank">Zest development</a> spans over 15 levels and is designed by NettleTribe. Twelve of the levels will be residential.</p>
<p>The 60 one-bedroom apartments are priced from $320,000, with 84 two-bedroom apartments from $375,000.</p>
<p>This comes as the cheaper option to CS Developments’ Kelvin Grove offering, Victoria Park Residences, with <a href="/news/kelvin-grove-to-welcome-cs-developments-third-project-victoria-park-residences">one-bedroom apartments from $343,000 and two-bedroom apartments from $469,000</a> – however, they are notably larger offerings.</p>
<p>A rooftop terrace will also be built in Zest including a seating area, BBQ facilities and an open-air pool.</p>
<p>Kelvin Grove’s Evoque development was <a href="/news/qld/no-gym-and-no-pool-a-selling-point-for-kelvin-grove-s-evoque">using the fact they had “no pool” as a selling point in February</a>.</p>
<p>Hindmarsh Queensland development manager Bill McClanachan said that the project includes glass balustrades and textured pre-cast panels.</p>
<p>“Zest has been designed to offer a modern, easy and convenient inner city lifestyle,” said McClanachan. </p>
<p>“We have already received more than 60 expressions of interest from both investors and owner occupiers so the value and design appeal of Zest is evident,” he said.</p>
<p>It will include one and two bedroom apartments ranging from 50 to 82 square metres internally.</p>
<p>“Landscaping and a street-side park at the base of the building will create a restful fringe of green and enhance the outlook from the upper level balconies and podium-level apartment courtyards,” he said.</p>
<p>The apartments have been designed with the aim of keeping body corporate power bills lower, using sunshading, fresh air flows, thermal massing and glazing, with each apartment serviced by individually-metered gas hot water.</p>
<p>“Quality carpets throughout the bedrooms combine with the generous living and dining areas to give a feeling of comfort, while the expansive windows and glass doors to the balconies drench the rooms in natural light. When night falls, feature LED lighting in kitchens and bathrooms adds an energy-efficient touch of style,” he explained.</p>
<p> All the apartments are cabled for wireless broadband, Pay TV, free to air HD digital TV, regular telephones and include TV, data and phone points installed to both living areas and the main bedroom.</p>
<p>It includes two levels of retail and commercial space, as well as a suspended level of parking and two basement levels.</p>
<p>The project launches on 5 July. It will be on the corner of Musk Avenue and Carraway Street.</p>
<p>According to the project’s marketing, Zest has the potential for “long-term capital gain” with prices outstripping the Brisbane average previously.</p>
<p>In Kelvin Grove, a notable 60% of the population rent, median rental yields throughout 2013 sat at 4.24% and rents increased by a median of 3.15% in the past 12 months. According to RP Data, the <a href="/news">median unit price in Kelvin Grove</a> is $499,475, with median advertised weekly rent of $450.</p>
<p><em>Correction: The photo accompanying this article has been updated since publication. The initial photo featured another development project in the same suburb.</em></p>
</body></html>

jduke-EHk3XBmHkn

National developer launches 144-apartment Zest in Brisbane

<html><body>
<p>Victoria's auction clearance rate decreased to 74.6% for June, down from 75.4% in May.</p>
<p>For June, the strongest region was Melbourne's Outer East. Data from the Real Estate Institute of Victoria (REIV) shows that the area had a June clearance rate of 82.7%, up from May's result of 80.5%.</p>
<p>The weakest auction results were recorded in the West, where only 65.1% of homes auctioned in June sold at auction. The previous month's result was slightly better, with a clearance rate of 65.3%.</p>
<p>The biggest monthly improvement (on a percentage point basis) was recorded in North. There, the May clearance rate was 67.5%. In June, 73.6% of homes auctioned sold at auction. Victoria's North East region saw the largest drop, with the clearance rate falling from 78.4% to 72.5%. </p>
<p>This weekend saw strong clearance rates in Victoria, with all regions except the North and West recording a higher proportion of auction sales than were recorded at the same time last year. The total clearance rate for this weekend (29 June) was 75.0%. </p>
<table style="width: 460px;" border="0"><tbody>
<tr>
<td>
<h6>Region</h6>
</td>
<td>
<h6>June clearance rate</h6>
</td>
<td>
<h6>May clearance rate</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner Urban</h6>
</td>
<td>
<h6>73.2%</h6>
</td>
<td>
<h6>77.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner East</h6>
</td>
<td>
<h6>78.1%</h6>
</td>
<td>
<h6>78.8%</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner South</h6>
</td>
<td>
<h6>75.0%</h6>
</td>
<td>
<h6>78.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>South East</h6>
</td>
<td>
<h6>72.3%</h6>
</td>
<td>
<h6>72.2%</h6>
</td>
</tr>
<tr>
<td>
<h6>Outer East</h6>
</td>
<td>
<h6>81.8%</h6>
</td>
<td>
<h6>80.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>North East</h6>
</td>
<td>
<h6>72.5%</h6>
</td>
<td>
<h6>78.4%</h6>
</td>
</tr>
<tr>
<td>
<h6>North</h6>
</td>
<td>
<h6>71.3%</h6>
</td>
<td>
<h6>67.5%</h6>
</td>
</tr>
<tr>
<td>
<h6>West</h6>
</td>
<td>
<h6>65.8%</h6>
</td>
<td>
<h6>65.3%</h6>
</td>
</tr>
</tbody></table>
<p>This weekend's clearance rates by region, from <a href="https://www.reiv.com.au/" target="_blank">REIV</a>:</p>
<table style="width: 460px; height: 218px;" border="0"><tbody>
<tr>
<td>
<h6>Region</h6>
</td>
<td colspan="3">
<h6>29 June 2014</h6>
</td>
<td colspan="3">
<h6>30 June 2013</h6>
</td>
</tr>
<tr>
<td>
<h6> </h6>
</td>
<td>
<h6>Weekend Total</h6>
</td>
<td>
<h6>Sold</h6>
</td>
<td>
<h6>%Sold</h6>
</td>
<td>
<h6>Weekend Total</h6>
</td>
<td>
<h6>Sold</h6>
</td>
<td>
<h6>%Sold</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner Urban</h6>
</td>
<td>
<h6>28</h6>
</td>
<td>
<h6>22</h6>
</td>
<td>
<h6>79.0% </h6>
</td>
<td>
<h6>24</h6>
</td>
<td>
<h6>18</h6>
</td>
<td>
<h6>75.0%</h6>
</td>
</tr>
<tr>
<td>
<h6>Inner East</h6>
</td>
<td>
<h6>17</h6>
</td>
<td>
<h6>14 </h6>
</td>
<td>
<h6>82.0%</h6>
</td>
<td>
<h6>31</h6>
</td>
<td>
<h6>22 </h6>
</td>
<td>
<h6>71.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>Inner South</h6>
</td>
<td>
<h6>10</h6>
</td>
<td>
<h6> 9</h6>
</td>
<td>
<h6>90.0%</h6>
</td>
<td>
<h6>4 </h6>
</td>
<td>
<h6>2 </h6>
</td>
<td>
<h6>50.0%</h6>
</td>
</tr>
<tr>
<td>
<h6>South East</h6>
</td>
<td>
<h6>78 </h6>
</td>
<td>
<h6>55 </h6>
</td>
<td>
<h6>71.0% </h6>
</td>
<td>
<h6>80</h6>
</td>
<td>
<h6>54</h6>
</td>
<td>
<h6>68.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>Outer East</h6>
</td>
<td>
<h6>118</h6>
</td>
<td>
<h6>102</h6>
</td>
<td>
<h6>86.0% </h6>
</td>
<td>
<h6>97</h6>
</td>
<td>
<h6>77 </h6>
</td>
<td>
<h6>79.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>North East </h6>
</td>
<td>
<h6>34</h6>
</td>
<td>
<h6>29 </h6>
</td>
<td>
<h6>85.0% </h6>
</td>
<td>
<h6>39 </h6>
</td>
<td>
<h6>29 </h6>
</td>
<td>
<h6>74.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>North</h6>
</td>
<td>
<h6>48</h6>
</td>
<td>
<h6>38 </h6>
</td>
<td>
<h6>79.0%</h6>
</td>
<td>
<h6>37</h6>
</td>
<td>
<h6>32 </h6>
</td>
<td>
<h6>86.0% </h6>
</td>
</tr>
<tr>
<td>
<h6>West </h6>
</td>
<td>
<h6>74 </h6>
</td>
<td>
<h6>46 </h6>
</td>
<td>
<h6>62.0% </h6>
</td>
<td>
<h6>63</h6>
</td>
<td>
<h6>44 </h6>
</td>
<td>
<h6>70.0% </h6>
</td>
</tr>
</tbody></table>
</body></html>

jrichardson-uRX5hFdKfN

Victoria's auction clearance rates down for June: REIV

<html><body>
<p>It's the end of financial year, and here's how RP Data's much loved Daily Home Value Index finished up very strongly for the month of June, after 'falling' in May.</p>
<p>The best performing major capital city market over FY14 was, unsurprisingly, Sydney (+15.5%), actually tracking just a shade ahead of our forecasts for the calendar year to date. </p>
<p>The weakest performing capital city market of those covered by the index was Adelaide (+2.9%), where prices were recorded as being down over Q2, despite interest rates near record lows. </p>
<p>And the rest of the cities, erm, well, somewhere in between:</p>
<div class="separator"><a href="https://2.bp.blogspot.com/-pAd_TLLatJs/U7FGyWJzPMI/AAAAAAAAOKo/mhszokKu7F4/s1600/RPDJune2014.jpg"><img src="https://2.bp.blogspot.com/-pAd_TLLatJs/U7FGyWJzPMI/AAAAAAAAOKo/mhszokKu7F4/s1600/RPDJune2014.jpg"></a></div>
<div>RP's index is a useful enough indicator over time, but not a reporting tool to take too literally on a day-to-day, or even month-to-month basis.</div>
<p><span>Over the past quarter, the index has shown moderate gains for Sydney (+1.14%), Brisbane (+0.83%) and Perth (+0.62%), and declines in Melbourne and Adelaide.</span></p>
<p><span>The most likely outcome for H2 appears to be continued moderate price increases in all of the major capital cities, with ongoing headwinds in Canberra, and perhaps Hobart.</span></p>
<p>It's been a great year for creating wealth, largely thanks to ongoing low interest rates which continue to drive capital away from fixed interest products and into shares and property. I wrote yesterday whether shares of property has been a better bet over the past 10 to 20 years.</p>
<p>This past year, as usual, some people would have lost money on the share markets through chasing fast returns.</p>
<p>But had you simply held the XJO (ASX 200) index you'd be on track for a very smart +14% annual return even before dividend payments are thrown in. </p>
<p>Adding in the dividend component, annual returns would be approaching +19%.</p>
<p>As it transpired, all of the share market uplift was in the first half of the financial year.</p>
<div><img src="https://hfgapps.hubb.com/asxtools/imageChart.axd?s=xjo&amp;pi=Index&amp;ct=3&amp;tf=D12&amp;ovs=&amp;si=Code%20not%20supplied&amp;tima1=0&amp;tima2=0&amp;bi=2&amp;bima=0&amp;comt=index&amp;ds=xjo&amp;dovs=0&amp;ex=ASX&amp;ex2=ASX&amp;val=1&amp;stmp=2014062716185457" width="400" height="275"></div>
<p>All of which, by the way, all comes off the back of a romping +20% gain in the 2013 financial year.</p>
<p>These are the best back to back gains that have been seen since the heady pre-financial crisis days.</p>
<p>Meanwhile, Australian property prices are up by around +10% in the past year too, with Sydney comfortably leading the way.</p>
<p><a href="https://www.news.com.au/finance/real-estate/sydney-unit-market-set-to-rise/story-fnd91nhy-1226944060822" target="_blank">BIS Shrapnel</a> recently came out with a paper which stated that the Sydney apartment market boom has plenty of gas left in the tank, predicting another +15% of capital gains in the next two years.</p>
<p>We tend to agree that certain parts of the Sydney market will likely keep rising in price until interest rates do.<span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;">We won't be right all the time, of course, and since property markets are illiquid, the timings of market movements are much harder to predict than they may appear.</span></p>
<p><span style="line-height: 1.3em;">But we'll never be wrong through lack of research.</span></p>
<p><span style="line-height: 1.3em;">Our extensive chart packs which track hundreds of metrics and are updated daily (and not only for Australia, but also for the US, UK, Europe and China) would not allow it.</span></p>
<p><span style="line-height: 1.3em;">For example, we could never have predicted an Adelaide property boom over the last five or six years as many experts have, because every metric - population growth, jobs growth, the unemployment rate, household formation, interstate migration, GSP, State Final Demand, private new capex, real wages growth, building approvals, housing finance, investor loan finance...everything - told a different story.</span></p>
<p><span style="line-height: 1.3em;">And that still continues. </span></p>
<p><span style="line-height: 1.3em;">When RP Data releases its June 2014 figures later this week, it will record dwelling price declines of around -0.5% for Adelaide in Q2.</span></p>
<p><span style="line-height: 1.3em;">On the flip side, I was comfortable calling out Sydney as the standout capital city market </span><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Get-a-Financial-Grip/968/productview.aspx" target="_blank" style="line-height: 1.3em;">in my book</a><span style="line-height: 1.3em;">, even after Keen had predicted a 40% crash, because the data suggested that the market fundamentals were strong.</span></p>
<p><span style="line-height: 1.3em;">If market consensus is right, the ABS series will confirm that Sydney dwelling prices are up by around +47% over the past five years:</span></p>
<div><a href="https://2.bp.blogspot.com/-nnQBABXlP3o/U7Covlw1XbI/AAAAAAAAOJg/COjU3wcqNd4/s1600/ABSSydney.jpg"><img src="https://2.bp.blogspot.com/-nnQBABXlP3o/U7Covlw1XbI/AAAAAAAAOJg/COjU3wcqNd4/s1600/ABSSydney.jpg"></a></div>
<p><a href="https://2.bp.blogspot.com/-nnQBABXlP3o/U7Covlw1XbI/AAAAAAAAOJg/COjU3wcqNd4/s1600/ABSSydney.jpg"></a>Past of the problem with a lot of (most) Aussie property market commentary is that it comes from the point of vested interest i.e. "I own a property here, so it must always be referred to as a great location to invest."</p>
<p><span style="line-height: 1.3em;">We've seen a lot of this with regards to some very ordinary regional centres and even some capital cities over the past half decade, and it appears likely that there will be more of it to come with regards to several mining towns as the resources construction boom turns to bust.</span></p>
<p><span style="line-height: 1.3em;">The awesome thing about comprehensive chart packs which are updated daily is that, whether you like it or not, they force you to change your opinions as the outlook shifts. </span><span style="line-height: 1.3em;">You can't easily ignore reversing trends when </span><span style="line-height: 1.3em;">the daily data sets give it to you straight between the eyes.</span><span style="line-height: 1.3em;"> </span></p>
<p class="post-body entry-content"><strong style="line-height: 1.3em;">New home sales plateau</strong></p>
<p class="post-footer"><a href="/expert-insights/buying/current-cycle-peak-concerns-as-new-home-sales-down-for-first-time-in-2014-hia">New home sales slipped in May</a> for the first time in 2014, down by 4% on the month, suggesting that investment in new housing may be set to plateau.</p>
<p class="post-footer">Sales of detached new houses were still up by a very healthy +5.7 quarter on quarter, but this was offset by falls in multi-unit sales in the month, which declined quite sharply to be down by -5.2% quarter on quarter.</p>
<p class="post-footer">Notably, and concerningly, the HIA cited a "shortage of titled land in Sydney and Perth", which will continue to put upwards pressure on those two housing markets, especially since they both have very heavy population growth numbers:</p>
<div class="separator"><a href="https://3.bp.blogspot.com/-w3crXLyyWFo/U7DMoU73VmI/AAAAAAAAOKY/CkX8DXEvnog/s1600/HIA.jpg"><img src="https://3.bp.blogspot.com/-w3crXLyyWFo/U7DMoU73VmI/AAAAAAAAOKY/CkX8DXEvnog/s1600/HIA.jpg"></a></div>
<p class="post-footer"><em>Source: HIA</em></p>
<p class="post-footer">New dwelling sales fell again by another 6% this month in South Australia, down to just 490 in the month of May.</p>
<p class="post-footer">A weak market, where city dwelling prices declined in Q2.Yesterday's release from the Housing Industry Association (HIA) appears to be consistent other recent data sets - including softening building approvals, and construction finance for owner occupiers which seemingly hit a peak back in March 2014:</p>
<p class="post-footer"><img src="https://4.bp.blogspot.com/-buq9F4meLFE/U7DJ_Fo13FI/AAAAAAAAOKE/F9MxlL3ngbI/s1600/CFOO.jpg" style="line-height: 1.3em;"></p>
<p class="post-footer"><span>Housing finance for construction investment actually peaked in February 2014:</span></p>
<div class="post-footer">
<p class="separator"><a href="https://2.bp.blogspot.com/-EbBZ9p2_ovA/U7DKWqCmjdI/AAAAAAAAOKM/8MNG3H5Ggxc/s1600/CFI.jpg"><img src="https://2.bp.blogspot.com/-EbBZ9p2_ovA/U7DKWqCmjdI/AAAAAAAAOKM/8MNG3H5Ggxc/s1600/CFI.jpg"></a></p>
<p><strong>Established stock under pressure from investors</strong></p>
<p>However, a closer look at the more timely <a href="https://www.rba.gov.au/statistics/frequency/fin-agg/2014/fin-agg-0514" target="_blank">Financial Aggregates data</a> from the Reserve Bank, tells a slightly different story:</p>
<p class="separator"><a href="https://2.bp.blogspot.com/-NMbQV-4COEw/U7DIYvsLcvI/AAAAAAAAOJ4/bGRleRzJ_WU/s1600/RBAFA.jpg"><img src="https://2.bp.blogspot.com/-NMbQV-4COEw/U7DIYvsLcvI/AAAAAAAAOJ4/bGRleRzJ_WU/s1600/RBAFA.jpg"></a></p>
<p>Housing credit growth is tracking at +6.2% year-on-year, having increased by +0.5% m/m in May.</p>
<p>More notably, drilling into the data shows that investor credit for housing jumped by another +0.8% m/m in May to be up a scorching +8.3% y/y.</p>
<p>Why? </p>
<p>Because domestic investors are focusing on established dwellings which offer far superior bang for the buck.</p>
<p>A large percentage of new housing stock is presently being sold offshore, perhaps as much as 40% of it in Sydney and Melbourne according to a UBS report today.</p>
<p>The new housing market may be hitting a plateau, but the established market certainly has not done so.</p>
<p>Housing credit for investment as recorded by the RBA's Financial Aggregates has now increased for an incredible <a href="https://marketscuttlebutt.com/2014/06/30/net-australian-housing-investment-lending-8-3-yy-to-459-6b-66th-consecutive-monthly-increase/" target="_blank">66 consecutive months</a>, and with interest rates stuck down at record lows the trend look set to continue.</p>
<p><strong>Inflation to soften</strong></p>
<p>On a related note, the TD-MI inflation gauge was stuck dead flat at 0.0% m/m in June to be +3.0% y/y.</p>
<p>While the 3.0% reading sits at the top of the Reserve Bank's 2-3% target range, the inflation seen previously was largely <a href="https://marketscuttlebutt.com/2014/06/30/td-mi-inflation-gauge-back-at-rba-ceiling-likely-to-fall-in-the-second-half-of-2014/" target="_blank">a result of the falling Aussie dollar</a> as opposed to labour market pressures or wages growth, and thus is likely to soften again in the 2nd half of 2014. </p>
<p>In fact, this month's 0.0% month on month reading may just be the start of that very softening.</p>
<p>Interest rates on hold for ages yet; established dwelling prices to keep rising.</p>
<p class="separator"><em>You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.</em></p>
<p class="separator"><em>His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .</em></p>
</div>
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pwargent-M4siyDbqQY

The financial year in review: Home values up, interest rates on hold for a while yet

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<p>Melbourne narrowly outshone Sydney with its weekend auction clearance rate. But Sydney retains the strongest market despite some winter weakening.</p>
<p>Australian Property Monitors noted Sydney’s home auction market continued to fade with the <a href="/expert-insights/buying">weekend’s auction clearance rate falling to 74.1%</a> - the lowest non-holiday weekend result for over a year.</p>
<p>Meanwhile Melbourne<span style="line-height: 1.3em;">’s weekend auction market bounced back recording its best result at 74.6% for seven weeks and the second best result since early March.</span></p>
<p><span style="line-height: 1.3em;">It was the second time this year that Melbourne narrowly pipped Sydney in the APM weekend results.</span></p>
<p><span style="line-height: 1.3em;">Overall activity in Sydney’s home auction market had shifted down a gear over recent months, according to APM senior economist Dr Wilson who noted initial weekend clearance rates averaging 74.6% over June compared to the 77.6% in both May and April, and the 82.3% averaged in March.</span></p>
<p><span style="line-height: 1.3em;">In Melbourne, APM had </span><span style="line-height: 1.3em;">June weekend averages of 72.7% down slightly on the 74.1% weekend average reported over May,</span><span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;">On the last June weekend Sydney’s inner west had the leading clearance rate of 84.6% followed by the lower north shore with 84.3%.</span></p>
<p><span>Melbourne’s outer east produced another strong clearance rate at the weekend to clearly lead the suburban regions with 87.3%. APM senior economist Dr Andrew Wilson noted the outer east had been a consistently strong performer over the past year, with surging activity from mid-priced range changeover buyers fuelling prices growth.</span></p>
<p>There were two $10 million sales in Bronte but the most expensive Sydney property reported as sold at auction at the weekend was a four bedroom home at 253 Darley Road, Randwick (pictured below) sold for $3,350,000 by Phillips Pantzer Donnelley.</p>
<p><img src="/images/2014/06/30/randwick%20june%2030.jpg" alt=""></p>
<p>The most affordable property reported sold at the weekend was a three bedroom home at 36 Catalina Road, San Remo (pictured below) sold for $310,000 by R&amp;H Charmhaven.</p>
<p><img src="/images/2014/06/30/sam%20remo%20june%2030.jpg" alt=""></p>
<p><span>The most expensive Melbourne property reported sold at auction at the weekend was a three bedroom home at 150 Simpson Street, East Melbourne (pictured below) sold for $2.6 million by Caine Real Estate.</span></p>
<p> </p>
<p><span><img src="/images/2014/06/30/east%20melbourne%20june%2030.jpg" alt=""></span></p>
<p><span>The most affordable property reported sold was a one bedroom unit at 1/11 Findon Street, Hawthorn (pictured below) sold for $235,000 by Jellis Craig.</span> </p>
<p><img src="/images/2014/06/30/hawthorn%20june%2030.jpg" alt=""></p>
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jchancellor-FAypfDUnLy

Melbourne briefly outshines Sydney in weekend auctions

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<p class="Default">New home sales fell 4.3% in May, according to the Housing Industry Association (HIA).</p>
<p class="Default">The decline, recorded in HIA’s New Home Sales Report, which surveys Australia’s largest volume builders, is the first recorded this year.</p>
<p class="Default"><img src="/images/2014/06/30/hia-juune-30-one.gif" alt=""></p>
<p class="Default">According to Harley Dale, HIA’s chief economist, new home sales may have reached their peak for the current cycle.</p>
<p class="Default">“The overall profile for new home sales is a healthy one, given that May marks the first decline in new home sales this year,” said Dale.</p>
<p class="Default">“Sales grew by 3.8% over the three months to May 2014 to be up by 21.0% compared to the same period in 2013.</p>
<p class="Default">“Further upward momentum may be a challenge and it is a distinct possibility that new home sales have peaked for the cycle,” he said.</p>
<p class="Default">“The volume of new home sales nevertheless remains consistent with further growth in detached house building and the continuation of historically elevated levels of multi-unit construction in 2014/15.</p>
<p class="Default">“Detached house construction has the potential to grow faster in 2014/15 than in 2013/14, but land supply constraints are again being exposed in this current upcycle, including a shortage of titled land in Sydney and Perth,” noted Dale.</p>
<p class="Default">“Inadequate land supply is one prominent example of supply side constraints preventing new home construction reaching its full potential, highlighting the need for a focus on housing policy reform.”</p>
<p class="Default">Sales for detached new houses decreased by 2.2% nationally over May, but were up by 5.7% for the quarter to May. Multi-unit sales also fell for the month, by 16.1%. For the three months to May, multi-unit sales were down 6.2%.</p>
<p class="Default"><span style="line-height: 1.3em;">In Victoria, detached house sales were up by 3.3%, and 0.5% in Queensland for May. On a monthly basis, detached house sales were down 6.7% in Western Australia, 5.8% in South Australia and 5.4% in New South Wales.</span></p>
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Current cycle peak concerns as new home sales down for first time in 2014: HIA

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<p>GUEST OBSERVATION</p>
<p>It’s been almost two years since the Living Away from Home Allowance (LAFHA) was reformed by the government, essentially limiting access to tax concessions to employees maintaining a home in Australia.</p>
<p>Since then, high-end rental properties in Sydney’s CBD have struggled to command the premium prices they had been achieving prior to the legislative changes.</p>
<p>Properties priced over $1,500 per week have had much higher vacancy rates since the reform, resulting in many owners having to lower their rental offer to secure tenants.</p>
<p>I recently came across a stunning penthouse in the northern CBD that was vacant for almost five months. In the end, the owners had to reduce their original asking price by more than 40% – from $2,400 per week down to $1,500 per week. We’ve also seen various instances of existing tenants wanting to renegotiate their current rental price so they are not paying over the current market average.</p>
<p>Two bedroom apartments located in the northern end of the city with fantastic views that used to achieve rental income of $1,200-$1,400 per week now have to consider offers of around $1,000 per week to keep vacancies to a minimum.</p>
<p>The good news is there is still a huge premium on one bedroom properties in the city, with some furnished apartments leasing for as much as $975 per week. And, inner city properties priced in the $500-$1,000 per week rental bracket seem completely unaffected by the reform – this buoyant segment of the market continues to be leased within days.</p>
<p>Rental properties on the eastern outskirts of the city particularly between <a href="/news">Woolloomooloo</a> through to <a href="/news">Vaucluse </a>also continue to thrive.</p>
<p>Landlords must be competitive and keep their properties presented at a high standard in order to secure tenants at the best rental price. It is important to remember, however, that meeting the market is essential. On average, properties priced over $2,000 per week have had to consider offers 10-20% lower than what they had previously been getting. In these instances, you are often more likely to benefit from accepting lower rent for a short period, than having the property vacant for a few weeks or in some cases a few months.</p>
<p><em><strong>CARLIE ZIRI</strong> is a director of <a href="https://www.lifestylepropertyagency.com/" target="_blank" rel="nofollow">Lifestyle Property Agency.</a></em></p>
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cziri-avMho78xfG

Sydney’s high-end properties struggle to command top rental prices

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<p><span>There were two sales at $10 million or so in Bronte over the weekend.</span></p>
<p>The first was media scion <a href="/expert-insights/buying/lachlan-and-sarah-murdoch-secure-pre-auction-bronte-trophy-house-sale">Lachlan Murduch's trophy home sale</a> on Friday afternoon.</p>
<p><span>Then on Saturday afternoon 1,421 square metre Bronte site with t</span><span style="line-height: 1.3em;">wo 1960s freestanding cottages sold for $10 million post-auction.</span></p>
<p><span style="line-height: 1.3em;">The block has sweeping 180 degree headland to headland views across Bronte Beach.</span></p>
<p><span style="line-height: 1.3em;">There was a $10 million vendor bid, but sold after to a Bronte family who will build a home on the St Thomas Street location. </span></p>
<p>It was marketed by the Richard Wills estate agency as an "<a href="https://www.realestate.com.au/property-house-nsw-bronte-116098355" target="_blank">ideal private family compound</a>".</p>
<p>{qtube vid:=djtR7lICXOo}</p>
<p><span>Richard Wills told Property Observer the land was purchased in the 1950's and his l</span><span>ate father, who was a builder and his brother, built the houses in 1960.</span></p>
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Bronte's other $10 million weekend sale

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<p>Country Garden Australia secured 296 sales today when the Ryde Garden development went on sale.</p>
<p>The six hour purchasing spree for the project in Sydney’s North Ryde secured around $186 million in sales.</p>
<p><span style="line-height: 1.3em;">Buyers secured one, two and three bedroom apartments starting at $488,000. The two bedders were priced from $688,000, and three bedroom apartments priced from $888,000.</span></p>
<p><span style="line-height: 1.3em;">There were five sales of the project’s three bedroom sky-homes, boasting views across Sydney, for between $1.3 million and $1.7 million.</span></p>
<p><span style="line-height: 1.3em;">"These sales were a record for the area," agents advised. </span></p>
<p><a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank" style="line-height: 1.3em;">They are for sale through CPM Realty agent Sam Elbanna</a><span style="line-height: 1.3em;"> and JLL with a 2017 completion date, subject to final council approval.</span></p>
<p><span style="line-height: 1.3em;">JLL and CPM said that the results had exceeded expectations. </span></p>
<p><span style="line-height: 1.3em;">Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, over three buildings on a site 50 metres from North Ryde train station. There will be a 2,100 square metre central park. Each tower is set to have its own rooftop garden.</span></p>
<p><span style="line-height: 1.3em;">The Hong Kong-listed development company, Country Garden bought their first Australian development site in late 2013 at North Ryde.</span></p>
<p><span style="line-height: 1.3em;">Wanting to become a major developer in Australia for the long term, the group has a preference for suburban sites which could sustain large garden areas.</span></p>
<p><span style="line-height: 1.3em;">“Up to 20% of the buyers were former Country Garden customers,” the company’s general manager, sales and marketing, Nicholas Hum, told the Australian Financial Review.</span></p>
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Strong off the plan sales at Country Garden's Ryde Garden project

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<p>News Limited's Lachlan Murdoch and wife Sarah sold their Bronte trophy property yesterday afternoon,<span style="line-height: 1.3em;"> ahead of today's 12.30pm scheduled auction.</span></p>
<p>The contemporary Bronte Road house was initially listed in 2009 with hopes of $13.5 million.</p>
<p>But Fairfax Media report it sold for a little over $10 million.</p>
<p><span style="line-height: 1.3em;">There has been no official sale price indication on Lachlan Murdoch's website, <a href="https://www.realestate.com.au/property-house-nsw-bronte-117070459" target="_blank">realestate.com.au</a>. </span><span style="line-height: 1.3em;">Title Tattle recalls it was an unsolicited bid in April 2005 that secured the $7.75 million house above Bronte Beach as the Murdochs’ base for their return to Australia from New York.</span></p>
<p>It was bought from Graham Ford, the Bronte Surf Club president, who built it in 2001.</p>
<p>Lachlan Murdoch, the co-chair of News Corp and 21st Century Fox, and his wife Sarah<span style="line-height: 1.3em;"> first listed it in 2009 and then 2011.</span></p>
<p><span>Agents Ken Jacobs and Darren Curtis of Christie's International had the prestige listing for </span><span>June 28 auction.</span></p>
<p><span style="line-height: 1.3em;">Le Manoir, Lachlan and Sarah Murdoch's $23 million Georgian estate in Bellevue Hill, will soon become the couple's permanent base. </span></p>
<p>In the meantime the Murdoch couple continue their lease on Coolong, the Vaucluse beachfront residence of expats Ivan and Marina Ritossa.</p>
<p><span>The last big Bronte property play was in 2012 when </span><span>Seumas Dawes, the London-based Australian merchant banker, who sits</span><span> on the latest <em>Sunday Times</em> Richest 1000 list, and is the chairman of the investment committee at Pepper Investment Management, bought the </span>neighbouring<span> Bronte property.</span></p>
<p><a href="/news/a-cut-above-the-rest-the-era-of-sydney-mega-mansions-far-from-over-title-tattle">Title Tattle reported</a><span> at the time that Dawes had poured some of his then £90 net worth into a serious Bronte acquisition</span><span>. He now</span><span> sits in equal 739th place with a £124 million net worth on the recent <em>Sunday Times</em> Richest 1000 list</span>.<span><br></span></p>
<p><span>The funds manager and his wife Rosemary had initially spent $12.3 million for a large, modern three-storey residence in 2006.</span><span> It was a modern five-bedroom residence on the ocean side of Bronte Road overlooking the beach and ocean.</span></p>
<p><img src="/images/stories/2013/02/bronte1.jpg" alt="bronte1"></p>
<p><span>Then in 2012, the Dawes couple splashed out with the $16.5 million purchase of the neighbouring house, which they've bulldozed to expand their garden and garaging in grounds prepared by Formed Gardens.</span></p>
<p><span>The new works, which include gym and cabana, improve the neighbouring contemporary houses's north eastern aspect in u</span><span>nquestionably one of the most expensive coastal suburbs on the </span>exclusive<span> </span><a href="/news"></a><span>strip known as The Cutting.</span></p>
<p>Rosemary Seaton, the wife of merchant banker Seumas Dawes, recently sold her <a href="https://www.mcgrath.com.au/buy/house-waverley-nsw-2024/202047/?searchID=40389687" target="_blank">Luigi Rosselli-designed Waverley</a> house for $3.8 million which settled earlier this month.</p>
<p>Seaton had paid $3.9 million in 2009 for the five-bedroom residence which was bought by <span style="line-height: 1.3em;">Fiona Ford, who recently sold her nearby semi.</span></p>
<p><span style="line-height: 1.3em;">Luigi Rosselli had designed the property for the Yong family who sold it to Seaton in 2009.</span></p>
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Lachlan and Sarah Murdoch secure pre-auction Bronte trophy house sale

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<p>Bibury, the 1929 Leslie Wilkinson-designed Burradoo residence, was bought by the late health care industry entrepreneur Paul Ramsay for $3.5 million just before his recent May death.</p>
<p>The property, which has also been recently known as Burlington, was sold by <span>Marianna O'Sullivan, wife of corporate adviser, Tony O'Sullivan, </span>last December with its settlement in April.</p>
<p>It had previously traded when barrister David Arnott and his wife, Paddington retailer Rekha secured $2.8 million in 2008.</p>
<p>The Burradoo Road house, standing on 1.13 hectares, sits adjacent to Paul Ramsay's longtime Southern Highlands retreat, Yarrawin which Title Tattle estimates as two hectares plus.</p>
<p>Paul Ramsay grew up in the Highlands. He founded Ramsay Health Care, but was just as involved in regional television and property development.</p>
<p>Paul Ramsay, the son of a land surveyor, loved his properties, sometimes popping a letter to me which reflected his passion for property..and life. The first was around the early 1990s sale of his Point Piper apartment.</p>
<p>There were the past purchases and sales of Moonrising at Palm Beach, another called Seagull on the beach at Mollymook and <span>Noorinya on Sapphire Beach at Coffs Harbour. He kept, but rarely visited the double block amalgamated property on the Belongil at Byron Bay.</span></p>
<p><span>His long held Burradoo property dated back to its 1980s purchase, but it was actually a case of him buying back his childhood home, as was mentioned at the memorial service held at St Mary's Cathedral, Sydney. His father Oscar had bought part of the property in 1939, when Paul was aged 3, selling it in 1973.</span></p>
<p>No surprise that he fancied Bibury as it has typical wonderful Wilkinson features, merging Mediterranean and Georgian influences with stuccoed brickwork, loggias, timber shutters and a vine-covered terrace. It traded at $785,000 in 1988 when sold by the Audsley family, who paid $98,000 in 1975.</p>
<p><img src="/images/2014/06/27/Burradoo%20june%2027%20one.jpg" alt=""></p>
<p>When built for the solicitor Alex MacGregor in 1929 at a cost of <span>£</span>3,745, the house was known as Shadowood.</p>
<p>The McGregors lived there for six years before selling to Maud Dangar for <span>£</span>6,000 pounds in 1935.</p>
<p>It was Wilkinson's sixth residential commission and the first of his Southern Highlands projects.</p>
<p>The five-bedroom, two-bathroom house, which is approached by a flagged driveway through a porte-cochere into a central courtyard, has maid's quarters.</p>
<p>The single garage has chauffeur's accommodation.</p>
<p>The bore-serviced grounds have a stable and tack room, workshop and two croquet lawns.</p>
<p>The house was restored by Lucas, Stapleton, winning the Royal Australian Institute of Architects Greenway Award for heritage restoration.<span style="line-height: 1.3em;"><br></span></p>
<p>Just what Paul Ramsay's plans were following the acquisition aren't evident.</p>
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