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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The Hong Kong-listed development company, Country Garden has emerged as one of the Chinese companies to have expressed interest in buying Harry Triguboff's Meriton.
Country Garden Australia chief executive Johnson Zhang said the group had held preliminary discussions with Mr Triguboff, the Australian reported today.
The reported Country Garden approach was to buy, at least, part of his $6.25 billion Meriton apartment empire.
“We have met him; we have had discussions with him over this. But it is only in the pre­liminary stage. We might be looking for someone else. We are not sure yet,’’ Mr Zhang told the News Ltd paper.
The Chinese property development company bought their first Australian development site in late 2013 at North Ryde. 
The Global Business Park, 63-71 Delhi Road, had approval for a four building commercial development but Jones Lang LaSalle sold the Goodman Group site with potential for the developing 830 apartments.
Country Garden is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family. It focuses on building high-end residential property.
Founded in 1992 and listed on the Hong Kong stock exchange since 2007, it is controlled by China’s richest heiress, Yang Huiyan.
Wanting to become a major developer in Australia for the long term, Mr Zhang told The Australian the group preferred suburban sites which could sustain large garden areas.
Their newly released Ryde Garden development (pictured above) is a trio of buildings each have its own rooftop garden.
Bates Smart Architects designed 830 apartments for Country Garden’s first Australian project, on a site 50 metres from North Ryde train station. 
<a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3626&amp;wlid=5ad6e8b1-b411-435b-a832-4cc784d50cce" target="_blank">They are for sale through CPM Realty agent Sam Elbanna</a> and JLL with a 2017 completion date, subject to final council approval.
The off the plan begin on Saturday 28 June 2014, conducting the sales day at the Four Seasons Hotel in Sydney’s CBD.
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One, two and three bedroom apartments in buildings A and C - which are two of three proposed towers in the new Ryde Garden community, will be on sale.
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jchancellor-FAypfDUnLy

Ryde Garden debut for Country Garden Australia

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Peter Bond, the chief executive of gas company Linc Energy, withdrew the Redfern post office premises from its scheduled auction last night.
The Business Review Weekly rich lister <a href="/news/nsw/redfern-proving-magnetic-for-coal-executives">bought it in mid-2011</a> when <a href="/expert-insights/investing/linc-energys-peter-bond-lists-redfern-post-office-premises">the former post office commercial premises</a> at <a href="https://www.propertyobserver.com.au/new-south-wales/redfern-proving-magnetic-for-coal-execs/2011062250564" target="_blank">113-119 Redfern Street were sold by spruiker Max Markson</a> for $2,125,000.
The building, which has a clock tower and bell, last sold through agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
The former Redfern Post Office, in Redfern, NSW, was built in 1882. It has a two-storey Victorian Italianate building plus a dominant four-and-half-storey corner clock tower. The post office included a telegraph office, parlour, drawing room, three bedrooms, kitchen, a servant’s room, bathroom, scullery, washhouse, fuel shed and two stall stables.
In 1880, £3000 was provided for the erection of the Redfern post office, and then the Public Works added a clock tower for an estimated extra £700.
The building has 480 square metres of internal space on its 330-square-metre Redfern Street block. 
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-redfern-nsw-2016/227755" target="_blank">It was listed</a> through McGrath agents James Dack and Chris Chung.
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No sale for Linc's Peter Bond Redfern post office offering

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Central Melbourne will be home to three new skyscrapers totalling 2,022 apartments, with Planning Minister Matthew Guy approving the developments this week.
Over $830 million will be invested into the three projects, which will house an expected 4,000 people and provide 5,800 construction jobs.
“Importantly, central Melbourne is the right place for high density, high rise living,” said Guy, saying it’s the most walkable city.
“Building more apartments in the city takes population pressure off quieter suburban areas,” he said.
The three projects each include shops and cafes at ground/street level, pedestrian links and resident amenities and facilities.
“Australia 108 will be the first 100-storey building in the Southern Hemisphere. At a height of 319 metres above ground it fits within relevant aviation regulations, and will include 1,105 apartments. This includes a good mix of one, two and three bedroom apartments that will bring diverse household types into this central city location,” he said.
“When completed Australia 108 will be the most striking building on Melbourne’s skyline and a great example of the strength of homegrown Melbourne architecture.”
Another apartment tower is 452 Elizabeth Street, a 75 storey creation rising 241 metres, that includes 622 apartments, including three levels of communal resident facilities.
The third tower is 84-90 Queensbridge Street in Southbank, which will see a 54 storey creation spanning 185 metres high, containing 295 apartments.
“Victoria has the strongest construction sector in Australia, and our planning system is geared towards maintaining this economic advantage,” Guy said.
“Since 2010, 54% more homes have gained building approval in metropolitan Melbourne than in Sydney, and 11% more than the entire state of New South Wales,” he said.
“By building more homes, we are ensuring we won’t have the drastic and harmful housing shortage Sydney is experiencing.”
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jduke-EHk3XBmHkn

Three more Melbourne skyscrapers, 2,022 apartments, approved

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The businessman Lloyd Williams is seeking permission to replace his low-rise corporate headquarters with a 304 apartment, 40-level apartment tower at 248-280 Sturt Street, near the corner of Kings Way.
The 120 metre residential tower will have silver reflective glazing to a Elenberg Fraser design.
With its building form consisting of two dominant floor plates connected by a transitional twist, the tower smacks of cutting edge quality, according to the blog, <a href="https://urbanmelbourne.info/planning/2014/05/20/i-spy-new-planning-applications" target="_blank">urbanmelbourne</a>.
Starryland Melbourne has recently secured permission for its 54 storey apartment block at 84-90 Queensbridge Street, Southbank. Its a 295 apartment Rothe Lowman-designed project.
Meanwhile the listed Malaysian conglomerate PJ Development Holdings has purchased a two-hectare Southbank, Melbourne city fringe car-park site for $145 million.
The 93-119 Kavanagh Street development site (pictured above) was sold by interests associated with the Banco Group directed by Mario LoGiudice.
There are expectations of a $1 billion project by the PJD group.
There has been speculation in Malaysia that there has been speculation that PJD may embark on a corporate exercise to raise funds or to be merged with OSK Property Holdings Bhd to form a bigger entity. 
Both property development outfits are controlled by veteran investment banker Tan Sri Ong Leong Huat who holds 26.8% and 70% stakes in the companies respectively.
The off-market transaction brokered by Knight Frank agent Paul Henley highlights the renewed interest in the precinct by developers.
The two hectare Southbank site occupies the block bound by Kavanagh, Power and Balston streets, the West Gate Freeway and the Citylink Operations Maintenance building.
It is capable of accommodating six residential skyscrapers, with Banco securing permission in 2001 for five mid-rise office buildings. 
Some $400 million of Southbank land sales have taken place in the past year, including a site abutting the West Gate Freeway off-ramp, sold for $7.5 million last week.
It was the 65 Haig Street site of just over 1000 square metres which had potential for a 33 level high-rise.
Longtime Southbank developer Central Equity acquired the 54 Kavanagh Street site for $27 million in May.
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Lloyd Williams joins the latest apartment development push at Southbank

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GUEST OBSERVATION
Purchasing your first home is a great achievement, but do you feel like you are in over your head? 
Buying your first home won’t necessarily happen overnight. So, to help keep you on the right track, we gathered the top apps that covers everything from government grants and home loans to finding the perfect property.
<ol>
<li>
<a href="https://itunes.apple.com/au/app/house-hunter/id445304335?mt=8" target="_blank" style="line-height: 1.3em;">House hunter </a>Buying a property is full of new procedures that can be extremely confusing if you are new to the property market. The House Hunter app is a great tool for first home buyers as it can make the process easier and quicker. Some of the useful features include: track and compare and unlimited number of houses, a scoring method to help identify which house suit your needs, list of information of each property including ‘must-haves’ and ‘missing’, a mortgage calculator and a Quick Notes feature to save time and typing when putting in information about a property.  
</li>
<li>
<a href="https://itunes.apple.com/au/app/sro-mobile/id390079760?mt=8" target="_blank">SRO Mobile </a>Are you buying your first property in Victoria? Then this app will be extremely useful. The State Revenue Office of Victoria app helps first home buyers assess what Victorian grants they are eligible for. The Land Transfer Duty calculator is also available with this app. 
</li>
<li>
<a href="https://itunes.apple.com/au/app/tapmortgage-australia-mortgage/id402187202?mt=8" target="_blank" style="line-height: 1.3em;">tapMortgage </a>Do the terms stamp duty, transfer fees, first home concessions and mortgages make your head spin? Then take a look at the tapMortgage app to help clear the air. This app has a range of calculators for the items above as well for total interest paid, total savings for weekly or fortnightly repayments compared to monthly repayments as well as the savings you would make based on any extra repayments.  tapMortgage can help give you an indication of how much you can afford. 
</li>
<li>
<a href="https://itunes.apple.com/us/app/myofi/id660150695?mt=8" target="_blank" style="line-height: 1.3em;">MyOFI </a>Open inspections are a large part of house hunting, but can be time consuming.  MyOFI is a great way to organise and speed up your open for inspection schedule. Being one step ahead of other potential buyers in the market can make all the difference.  All you need to do is sign up, enter your contact information and property search requirements and the app will give you an individual QR code. You can then give this to the real estate agent at every open house instead of filling out your information, saving you time. This app also allows you to log all of your inspections to help you keep track. It will store the photos, address and agent’s details as well as any notes you wish to include yourself. 
</li>
<li>
<a href="https://itunes.apple.com/au/app/savings-goals/id507466769?mt=8" target="_blank" style="line-height: 1.3em;">Savings Goals </a>Are you struggling to save for a 20% deposit? Saving 20% of the purchase price or more cannot only help give you a more competitive interest rate, but it can also keep other costs to a minimum, such as Lender’s Mortgage Insurance.  With this app, you simply enter a target amount and a target date and this app will give you a suggested schedule and will also track your progress. It will let you know how close you are to your target date, what proportion of your target you’ve saved and whether you are ahead or behind schedule. What’s even better is that you can create as many savings goals as you like.  Saving for a large deposit can be extremely advantageous when it comes to applying for a home loan, so the more you can save, the better. 
</li>
<li>
<a href="https://itunes.apple.com/au/app/state-custodians-approve-me/id574346429?mt=8" target="_blank" style="line-height: 1.3em;">Approve Me </a>This app is great for those looking to obtain a home loan. You are able to select the product most suited to your requirements as well as see the current interest rates. You are also able to calculate if you can afford the home loan repayments and even obtain an instant online pre-approval. This would be extremely useful if you are out house hunting as you will have an idea of how much you will be able to afford.
</li>
</ol>
Gavin Smith is director and general manager of <a href="https://www.statecustodians.com.au." target="_blank">State Custodians</a> and has over 20 years’ experience in leadership roles within the banking services sector.
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gsmith-qGJafBfKnu

Six handy apps for first home buyers

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The great thing about Twitter is common people get to interact with people they normally wouldn't get to. Celebrities, politicians, journalists are all fair game. Where as you'd get arrested if you went round to The Lodge and started yelling at Tony Abbott through the intercom at his front gate, you can go nuts within 140 characters on his managed Twitter account. With a bit of luck, his assistant Peta Credlin may even tweet an inane response about how they've stopped the boats. Ah, free speech at its best.

Of course not everyone is too busy embarrassing themselves on the world stage to tweet for themselves. Matthew Guy is one of those people who lets the world know his own thoughts, and recently I was privileged enough to share some Twitter action with him (all eight words of it!):

<blockquote class="twitter-tweet" lang="en">
<a href="https://twitter.com/MatthewGuyMP">@MatthewGuyMP</a> are you seriously gonna expand melb's UGB again? At this rate melb will reach adelaide by the time I die! Sprawl is killing us
— Martin Mankowski (@HobosRunning) <a href="https://www.propertyobserver.com.au/https://twitter.com/HobosRunning/statuses/476968551819923457">June 12, 2014</a>
</blockquote>
<blockquote class="twitter-tweet" data-conversation="none" lang="en">
<a href="https://twitter.com/HobosRunning">@HobosRunning</a> No, we have made it clear we won't.
— Matthew Guy MP (@MatthewGuyMP) <a href="https://www.propertyobserver.com.au/https://twitter.com/MatthewGuyMP/statuses/476973267408781312">June 12, 2014</a>
</blockquote>

"Thank god for that!", I thought. In 2012, he expanded Melbourne's Urban Growth Boundary (UGB) by 5,858 hectares, a mere two years after Justin Madden had expanded it by 43,000 hectares. Worse still, he promised to review it every year! Fast forward two more years and it seems common sense had prevailed. With Minister Guy finally putting a permanent freeze on the UGB, Melbourne's obsession with the suburbs will finally be coming to a close, right? Wrong!

As part of Mr. Guy's crusade to reform planning zones, he decided to let councils decide what level of development they would like to see in their municipalities. Lo and behold the inner-city councils of Boroondara, Bayside and Stonnington promptly resigned large chunks of their fiefdoms to two stories. Hands up who didn't see that happening? It would be like letting motorists set the maximum speed limit and watching everyone clean each other up on the freeway at 300 km/h.

Letting NIMBY-driven councils dictate planning is always going to end in tears; local newspapers in particular love a good council bashing story, leaving them to pander to a whinging NIMBY minority rather than implement a much needed long term vision. So much so, that in a <a href="http://www.theage.com.au/victoria/rich-suburbs-have-highrise-development-locked-out-in-new-zonings-20140616-3a8mb">recent article</a> in The Age, Mary Drost - convener of the anti-development group Planning Backlash - proclaims to be a proud NIMBY! That's like saying you are proud to be a racist; you're essentially saying you are happy to be ignorant and selfish. Apartments.com.au was right to suggest that article should have been called something else (see below):

<blockquote class="twitter-tweet" data-cards="hidden" lang="en">
Like this comment "This headline should read "selfish baby boomers condemn subsequent generations to housing misery" <a href="http://t.co/sTwHC5iCX9">http://t.co/sTwHC5iCX9</a>
— Apartments.com.au (@UrbanMelbourne) <a href="https://www.propertyobserver.com.au/https://twitter.com/UrbanMelbourne/statuses/478693957824565248">June 17, 2014</a>
</blockquote>

Of course we have been here before; do we dare mention the failed Camberwell Station development? The perfect place for much needed density due to its enviable transport links, it was shot down by a group of NIMBYs led up by former resident and Hollywood celebrity Geoffrey Rush.

Melbourne is a rapidly growing city, with the state government's own figures forecasting a population of 7.8 million by 2051. Now that we have supposedly contained the UGB (and rightfully so) and blackballed a large chunk of the middle-band suburbs from medium and high density development, where the hell is everyone going to live?

With selfish NIMBYs now refusing to share their close-to-the-CBD, amenity-rich suburbs with anyone else, we'll have no choice but to abandon the boundary and push even more people into the outer suburbs. Further and further the boundary will creep, condemning people to a life of longer and longer car dependent trips to everything including work, entertainment and shopping. We'll have whole generations of kids who think that Melbourne's CBD is nothing but a mythical utopia, a faraway land requiring a Lord of the Rings type quest to reach it by foot or congested freeway.

You can just imagine them walking through the middle-band suburbs, weary from their journey from another world, as they look on jealously at Gollum-style creatures wrapping their protective arms around their single story properties snarling "My precious!!!". The selfishness of these NIMBYs is quite disturbing; I struggle to comprehend the complete lack of regard or empathy for where future generations are going to live just because they are nice and cozy in their renovated Victorian cottage.

So where does this leave Matthew Guy? On the one hand he is a champion of density, one who has overseen massive change in Melbourne's skyline and therefore inner-city housing supply. He has correctly pushed for the creation of Fishermans Bend as a inner-city residential growth area, allowing 80,000 people the chance to live in an area where car dependence will be a thing of the past. And he was right to take planning control away from nominated activity hubs such as Footscray, making sure that high density development happens in appropriate areas along transport corridors.

Yet on the other hand he has endorsed a questionable policy that will prevent many other suitable candidates like Camberwell, Hawthorn, Kew and Sandringham gaining a similar outcome, leaving the conundrum of where to house Melbourne's growing population unresolved. Dare I suggest a real Jekyll and Hyde minister if there ever was one, making great Aussie singer/songwriter Paul Kelly seem prophetic when he sang "What makes such a sweet Guy turn so mean?"

Mr. Guy: which is the legacy you wish to leave? A legacy highlighted by quelling the scourge that is suburban sprawl, or one of appeasing a few selfish NIMBYs... time will tell.
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TheHeadOnTheDoor

What makes such a sweet Guy turn so mean?

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GUEST OBSERVATION
Recently a client emailed Chan &amp; Naylor managing director Ken Raiss, with a particular question to do with purchasing a property in super. 
Hi Ken,
I hope you are well!
I am just writing regarding a question for bricks and mortar and hoping you can respond.
My superannuation is presently with an industry fund.  I seek your advice as to investing my superannuation in buying a property in lieu of losing accounting fees, etc, while unemployed.
Thank you.
Ken Raiss' answer on the next page. Please click below.
<hr class="system-pagebreak">
GUEST OBSERVATION
Purchasing a property in super needs to be a strategic decision depending on the size of your superannuation balance, your tolerance to risk and need to accommodate any pension payments.
You would also need to set up your own self-managed super fund (SMSF) which can have a maximum of four members.
The ability to borrow in superannuation, together with the lower tax rates, has made it very attractive for many to purchase property in super. When borrowing the banks would normally take into account rental income and your super guarantee contributions (up from 9.25% to 9.5% 1 July 2014) and we find that banks normally lend on an 80% loan to valuation ratio, but at a slightly higher interest rate then if outside of super. There needs to be a formal loan agreement and you can even lend to your own super from either cash or from say an equity balance using appropriate loan documentation.
The costs of set up will include the SMSF plus a holding trust (as you cannot buy directly within the SMSF if there is debt/security on that property) and  loan documentation. The annual costs of running an SMSF need to be compared to the costs of your existing funds which are not always readily apparent when looking at your statement. Having said that the ability to borrow greatly increases the size of your asset which grows (hopefully) while the debt stays constant. The ability to pay down debt in super is more effective as the 15% income tax rates in super is much lower than what most people pay on their wages. For many therefore the costs of setting up and running an SMSF is more than made up by being able to leverage within super.
If you become unemployed your SMSF would still need to make repayment. Without any contributions from yourself, the SMSF would need to rely on internal cash reserves. The same issue would arise if the property was purchased outside of super as you would still need to make repayments.
There are some other restrictions within super when purchasing a property. You cannot refinance and borrow against the equity and you cannot redevelop the site while there is still an outstanding debt. You can, however, do cosmetic renovations and small improvements.
We recommend a five stage process when looking at purchasing property in super:
<ol>
<li>Speak to a qualified specialist property accountant and or financial planner to confirm that the type of property you are contemplating is allowable.</li>
<li>Speak to a qualified financial planner for advise on the rollover of funds from industry/retail funds to the SMSF as this may trigger CGT and you may lose insurance coverage.</li>
<li>Seek in principle loan approval</li>
<li>Complete the relevant paperwork and set up of the SMSF and holding trust including any rollovers as well as completing an SMSF Strategy</li>
<li>Go shopping for the property. If you purchase first without setting up the appropriate structures you cannot then “on sell” as an SMSF is prohibited from purchasing a residential property off a member.</li>
</ol>
Kind regards,
Ken
Ken Raiss is managing director of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor</a>, property, business, tax accounting and SMSF specialists.
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kenraiss-JsVyb3YKka

How do I buy a property with my super while unemployed?

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Botanical artist Cherie-Christine Curchod and partner Rob Curchod have sold their water access only Pittwater retreat, Le Haven.
Listed for sale with an asking price of $1.2 million, it fetched $1.15 million when bought by environmental scientist, Dr Marcus Lincoln-Smith.
The 1950s cottage at Coasters Retreat was last traded in 2006 for $1.04 million.
With its French provincial style, the two bedroom cottage featured in the November 2011 issue of Country Style magazine.
The 700 square metres property had been<a href="https://kathrynhallrealestate.com.au/listings/id-5083-sold-sold-sold" target="_blank"> listed through Kathryn Hall of Kathryn Hall Real Estate</a>. 
They have bought at Palm Beach for $1.07 million, buying a property initially listed in late 2011 with $1.8 million hopes.
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Artist Cherie-Christine Curchod's cottage Le Haven, Coasters Retreat sells

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The residential towers at Sydney's One Central Park were voted the fifth best new skyscraper in the world by Emporis, a Hamburg-based building and construction data company.
The “international jury of architecture experts” selected buildings which had been completed in the last 12 months and were at least 100 metres tall, judging them according to “aesthetic and functional design criteria,” according to Emporis. A total of 300 high rise buildings were considered. 
First place went to London’s The Shard, the 87 storey tower which opened in February last year. The tallest building in the European Union, the Shard was designed by Italian architect Renzo Piano with Adamson Associates.
One Central Park was completed in December 2013. Designed by French architecture practice Jean Nouvel with Australian firm PTW, the skyscraper’s standout feature is its plant covered walls, which are set to reach full growth potential at the end of the year. 
PTW director Matt Dobbs said One Central Park was a “dream project to work on.”
“Collaborating with the likes of world renowned architect Jean Nouvel is a once-in-a-career opportunity,” he said.
The other major feature of the skyscraper is Nouvel’s signature cantilever – a suspended beam or structure jutting out from the main building, anchored at only one end. At One Central Park, the cantilever is the tower’s Sky Garden, which extends from level 29 of the East tower.
The Emporis Skyscraper award is now in its fourteenth year. Previous winners include London's 30 St Mary Axe ("the Gherkin" to some), the Kingdom Centre in Saudi Arabia's Riyadh and the Mode Gakuen Cocoon Tower in Tokyo.<a href="https://en.wikipedia.org/wiki/Mode_Gakuen_Cocoon_Tower" title="Mode Gakuen Cocoon Tower"> </a>
The top 10 skyscrapers of the last year, according to <a href="https://www.emporis.com/" target="_blank">Emporis</a>:
<ol>
<li>The Shard, UK <img src="/images/2014/05/22/The_Shard_during_its_opening_laser_light_show_2.jpg" alt=""> Source: Wikimedia Commons 
</li>
<li>DC Tower #1, Austria <img src="/images/2014/06/25/DC_Tower_1_September_2013.png" alt=""> Source: Wikimedia. 
</li>
<li>Sheraton Huzhou Hot Spring Resort, China <img src="/images/2014/06/25/Sheraton_Huzhou_Hot_Spring_Resort_exterior_night_view.jpg" alt=""> Source: Wikimedia. 
</li>
<li>Cayan Tower, United Arab Emirates <img src="/images/2014/06/25/infinity-ex-10.jpg" alt=""> Source: Supplied. 
</li>
<li>One Central Park, Australia <img src="/images/2014/05/22/Fraser05.jpg" alt=""> Source: Supplied. 
</li>
<li>Flame Towers, Azerbaijan <img src="/images/2014/06/25/Baku_Towers_43.jpg" alt=""> Source: wikiarquitectura. 
</li>
<li>Mercury City, Russia <img src="/images/2014/06/25/mercury-city-ine.jpg" alt=""> Source: Supplied. 
</li>
<li>Ardmore Residence, Singapore <img src="/images/2014/06/25/gallery_home_01.jpg" alt=""> Source: Supplied. 
</li>
<li>AZ Tower, Czech Republic <img src="/images/2014/06/25/Brno_tice_Prakova_AZ_Tower_2013-05-21_03.jpg" alt=""> Source: Wikimedia. 
</li>
<li>EQUAL: Nanfung Commercial, Hospitality and Exhibition Complex, China &amp; Tour Carpe Diem, France <img src="/images/2014/06/25/guangzhou-june25-one.jpg" alt=""> Nanfung Commercial, Hospitality and Exhibition Complex, China. Source: Hong Kong Institute of Architects <img src="/images/2014/06/25/Cot_esplanade.jpg" alt=""> Tour Carpe Diem, France. Source: Vincent4617/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">Creative Commons</a>.
</li>
</ol>
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jrichardson-uRX5hFdKfN

Sydney’s One Central Park named one of the world’s best new skyscrapers

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RP Data has released its quarterly Pain &amp; Gain Report for the March 2014 quarter.
Over the first quarter of the year, 9.8% of properties nationally sold for less than their previous purchase price meaning 91.8% of properties sold at or above their previous purchase price. This analysis doesn’t include expenses such as holding costs and purchase and selling costs so the proportion of actual loss making re-sales would be higher than this reported figure on a net basis.
The figures also showed that there was a big discrepancy between the proportion of loss making re-sales across the capital cities and regional markets. The data showed that loss making re-sales are much more prevalent in regional areas than across capital cities.
This is reflective of the fact that although values are higher over the year in all capital cities, it is not the case across many regional areas. Over the three months to March 2014, 6.5% of properties across the capital cities re-sold for less than their previous purchase price compared to 16.0% of re-sales in regional areas.
<img class="aligncenter size-full wp-image-3375" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-11.jpg" alt="% of loss making sales" width="500" height="180">
The above chart shows the long-term proportion of loss making re-sales across both the capital cities and regional markets. Outside of a recent period between the middle of 2004 and early 2009, capital city markets have consistently recorded a lower proportion of loss making re-sales than regional areas.
Recently the differential between capital city and regional markets has been significant which is reflective of the ongoing weaker capital growth conditions within major regional housing markets.
<img class="aligncenter size-full wp-image-3376" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-21.jpg" alt="% of loss making sales caps" width="500" height="180">
Across the major capital city markets the proportion of loss making re-sales is generally trending lower from a recent peak. This is reflective of the low interest rate environment and the rising home values which results in fewer vendors selling their home for less than what they purchased it for.
With mortgage rates touted to remain at low levels for some time we would anticipate that the proportion of loss making re-sales will continue to trend lower across most capital cities.
While we are seeing general improvement in capital cities, regional markets are experiencing a wide variety of performances. Markets that are coastal and linked to the lifestyle segment of the market are seeing a high proportion of loss making re-sales however, the proportion is now generally trending lower.
On the other hand, markets linked to the resources sector, some of which are coastal, are now seeing a much higher proportion on loss making sales. As many resource projects shift from construction to production demand for workers is much lower which in-turn impacts on the residential housing market, significantly in some instances.
<img class="aligncenter size-full wp-image-3377" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-31.jpg" alt="Major coastal lifestyle markets" width="500" height="179">
Across some of the major lifestyle markets depicted in the chart above you can see that the proportion of loss making re-sales remains high but is now clearly trending lower.
In the Bunbury region of Western Australia, the proportion of loss making re-sales peaked over the three months May 2012 at 22.3% and have since trended lower and over the most recent quarter were recorded at 16.5% of total sales.
In Cairns the recent peak saw 42.6% of re-sales at a loss over the three months to June 2012 and the proportion has since fallen to 28.2%.
Loss making resales on the Gold Coast peaked at 38.6% of all sales over the three months to December 2012 and have since fallen to 25.6% of all sales.
Within the Richmond-Tweed region 22.3% of re-sales were at a loss over the March 2014 quarter, down from a peak of 28.9% over the three months to October 2012.
On the Sunshine Coast loss making re-sales peaked at 36.0% of re-sales in October 2012 and have fallen to their current 23.2%.
<img class="aligncenter size-full wp-image-3378" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-41.jpg" alt="Major resource areas" width="500" height="181">
While the proportion of loss making re-sales is trending lower in coastal markets we’re seeing a rise in other markets, particularly those linked to the resources sector.
Over the first quarter of 2014, 16.3% of re-sales were at a loss in the Fitzroy region of Queensland up from 10.0% a year ago. In the Mackay region, 23.3% of re-sales over the first quarter of 2014 were at a loss compared to 14.4% a year earlier.
In the Outback region of Western Australia (which includes many resource areas) loss making re-sales have risen from 12.0% of sales in the first quarter of 2013 to 17.3% in the first quarter of 2014.
There are some clear trends emerging with regard to loss making re-sales. As home values and sales activity rise across the capital cities the proportion of loss making re-sales is trending lower (as you’d expect).
Certainly the capital city markets are experiencing far fewer loss making sales than regional markets. In many coastal lifestyle markets we are starting to see some low-levels of value growth returning and sales volumes lifting. As a result, loss making re-sales are still relatively high but are beginning to trend lower.
In those areas linked to the resources sector we are seeing the proportion of loss making re-sales trend higher. This is occurring on the back of many mining projects shifting from construction to production phase. In these areas we are generally seeing falling home values, sales volumes and rental rates while discounting levels and time on market increase.
With mortgage rates set to remain low over the coming months we would anticipate that these broad trends will continue.
Look for the capital cities and lifestyle markets to see continuing falls in loss making re-sales, whilst markets linked to the resources sector to experience tougher conditions with losses becoming more prevalent.
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