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

<html><body>
A top floor Hawthorn East penthouse  in the Aerial development is on the market, seeking a $3.8 million buyer.
The 901/480 Riversdale Road, Hawthorn East, <a href="https://www.aerial.com.au%20" target="_blank">Aerial Apartments</a> penthouse is being sold through Melbournia Group and is 260 square metres internally plus a 128 square metre wrap-around balcony.
Covering the entire top floor of the Aerial Apartments development, it includes four bedrooms, four bathrooms and four underground car parks, with a northerly aspect.
The Aerial development included 144 one-, two- and three- bedroom apartments, as well as a number of sub-penthouses. It is two towers, up to 14 levels in the tallest. At street level, the towers include retail tenants.
The development went off to a rocky start, being <a href="/expert-insights/buying/completion-of-fkp-s-apartment-project-aerial-in-camberwell-junction-delayed">delayed in 2012 due to weather and union issues</a>.
It was <a href="/news/vic/fkp-completes-construction-of-delayed-aerial-apartment-project-in-camberwell">finally complete in November 2012</a>.
With city skyline views, the penthouse comes furnished and is complete – offered in the final collection launch for the development.
Luxury features include ceilings up to 3.8 metres high, a stand-alone bathtub, a private lobby entrance and an integrated sound system.
The building was designed by Wood Marsh, and developed by AVEO Group, and offers a communal dining room, 24 hour concierge, a 12-seat cinema and a roof top pool and sun deck.
Melbournia Group’s Zoe Zhu said that it has had no expense spared and includes a kitchen that’s over double the size of a standard offering.
“The purchasers of this top level penthouse will be just moments from the region’s top private schools, prestigious shopping strips, incredible cafés and restaurants, the iconic Camberwell market and more,” noted Zhu.
“This penthouse represents the jewel in the crown of Aerial apartments and as such it had been held back from the market until recently after the building reached completion as we knew this apartment had to be seen to be believed.”
The penthouse is open for inspection by appointment.
</body></html>

jduke-EHk3XBmHkn

Top floor Hawthorn East penthouse seeks $3.8 million buyer

<html><body>
Western Australia’s two apartment sites at Claremont on the Park have seen Mirvac named as the chosen developer, looking to bring a minimum of 178 apartments to the area.
Lands Minister Terry Redman said that Mirvac had been chosen after a rigorous selection process.
The entire <a href="https://www.landcorp.com.au/Residential/Claremont-on-the-Park/%20" target="_blank">Claremont on the Park</a> development is a 9.4 hectare site north of the rail line, which will include residential, commercial and recreation space.
Mirvac had been shortlisted after a “really strong response” to the expressions of interest campaign, noted LandCorp general manager metropolitan Luke Willcock in February.
Now they have been announced as the chosen developer, above Pindan and Victorian-based developer Caydon Property Group, for the project.
The two apartment sites sit on lots 504 and 505, and look to provide housing for more than 350 people, with the entire development to house 1,000 people in 700 homes.
The site is walking distance to Claremont’s shopping precinct and the railway station, and is noted to have views of Claremont Oval at the centre of the project.
“LandCorp undertook a lengthy assessment process to ensure the developer of the two sites would deliver the best standard of medium density urban design as well as quality facilities and accommodation for future residents,” Redman said.
“Mirvac’s proposal delivered on the objectives for achieving a high quality architectural design and sustainable living which contribute to the Oval and streetscape activation.”
The plan for the area was decided in Western Australia’s Directions 2031 and Beyond, to assist in rejuvenating underutilised areas in already-established suburbs.
Civil works to service the sites had been expected to conclude in mid-2014. In December 2013, Stage 2 of site works commenced.
In July 2013 Georgiou Living were selected to develop the first apartment complex at Lot 503. They created <a href="https://thepocketclaremont.com.au/%20" target="_blank">‘The Pocket’ Claremont</a>, which commences construction in July and includes one-, two- and three-bedroom apartments from $485,000, and advertises the development by noting that “Claremont's median price increasing at an average annual rate of 8.1 per cent.”
At present, the median unit price in <a href="/news">Claremont is recorded at $660,000</a>, according to RP Data, achieving a median weekly advertised rent of $490.
Claremont Football Club have their ground and facility at the project.
</body></html>

Mirvac to build Claremont on the Park’s 178 plus apartments

<html><body>
The number of residential vacancies nationally decreased very marginally in May, according to SQM Research, with vacancies sitting at 2.2% nationally, or 65,075 vacancies.
Canberra, Melbourne and Darwin are the only capital cities recording a decrease in vacancies.
Year on year, vacancies remain up – by 0.2% - with the trend of 2% plus vacancies ongoing, suggesting renters are getting the upper hand, suggested SQM Research’s managing director Louis Christopher.
<img src="/images/2014/06/18/vacansies%20june%2018.png" alt="">
Source: SQM Research.
Rents have remained flat across the cities, with the <a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1" target="_blank">Asking Rents Index</a> recording a flat $528 per week for houses and $416 for units.
“Rental growth so far this year has been patchy as a result of the moderate increase in supply of available rental properties and I believe vacancy rates will continue to gradually rise over the course of 2014, with the longer term view that the large increases in building approvals will translate to higher vacancy rates in 2015 and 2016. Overall it is going to be increasingly difficult for landlords to lift the rent for the foreseeable future,” said Christopher.
This leaves the vacancy rates as below.
MELBOURNE - 2.4%
PERTH - 2.3%
CANBERRA - 2.3%
BRISBANE - 2.3%
HOBART - 1.8%
SYDNEY - 1.7%
ADELAIDE - 1.6%
DARWIN - 1.4%
Source: SQM Research
For more insights into Sydney’s vacancy situation, read over page.
<hr class="system-pagebreak">
SYDNEY RENTAL MARKET
In Sydney, vacancy rates were recorded by the Real Estate Institute of New South Wales as rising for the second month in a row. REINSW president Malcolm Gunning notes that this is due to the completion of large scale apartment projects.
They record Sydney’s vacancy rate at 1.9%, with a 0.2% rise for May 2014 in their REINSW Vacancy Rate Survey.
“We are getting back to a more neutral position with high volumes of apartments being completed,” said Gunning. “Fifty per cent of new apartments are purchased by investors and we are now seeing them seeking tenants. The development stock gives tenants a bit more of a fair go and choice.”
BIGGEST VACANCY RATE JUMPS
Wollongong vacancy rates: Increased by 0.9%, to 2.4% Newcastle vacancy rates: Increased by 0.9%, to 3.9% Illawarra vacancy rates: Increased by 0.3%, to 1.9% Hunter region vacancy rates: Increased by 0.4%, to 3.4%
The area with the highest availability, remains the Central West – falling 0.2% to 4.7%, with New England increased 0.1% to 3.5%. LOWEST VACANCY RATES
Orana: Fell 0.8% to 1.5% Albury: Steady, 1.6%
SYDNEY STATISTICS
Inner Sydney vacancy rates: Increased 0.3%, to 1.9% Middle Sydney vacancy rates: Increased 0.5% to 2.5% Outer Sydney vacancy rates: Decreased 0.1%, to 1.6%
With the increase in Sydney’s inner city vacancy rates, Century 21 suggests that the inner west is a renters market, noting that in February a total of 67 listings for rental were recorded by Australian Property Monitors. In May this figure was recorded as double the number with 134 rentals advertised.
“Basically, it is a renters’ market,” said Century 21 Synergy Dulwich Hill director Angelo Lofitis.
 “If you have an investment property in the suburb of Dulwich Hill and have been trying to find a new tenant recently, you’ll probably be finding that it takes a little longer than usual to lease right now,” he said.
“On the other hand, if you are selling, you can still expect the high prices and quick sale that Dulwich Hill is renowned for, as this is yet to change and remains consistently on the rise.”
Loftis, however, says that the reason behind the vacancies is the increase of upgraders in the area who are looking to rent a larger property, rather than owning a smaller home.
“Up-graders’, as a sub-section of buyers in the inner west, have started leaving their rental properties and going on to buy in the area, hence property values are still strong and growing,” he said.
What are your current experiences with trying to get tenants in Sydney?
</body></html>

No rent hikes any time soon as vacancies stay above 2%: SQM Research

<html><body>
Spring Cottage, an 1870s Brisbane brick and sandstone cottage held by the same family for four generations, has been listed for sale.
It is one of the oldest houses in Brisbane, but renowned for its gardens given its ranks as one of the 10 oldest in Brisbane.
It is believed that the gardens have remained relatively untouched since they were first laid in the early 1900s.
“The only major work that is know of was in 2010 when the tenant, a qualified horticulturalist, helped to restore the garden’s original design,” said Damon Warat from Ray White Ascot.  
Spring Cottage, located at <a href="https://www.raywhite.com/qld/hamilton/1152364/" target="_blank" style="line-height: 1.3em;">40 Crescent Road, Hamilton</a>, is listed on the Brisbane City Council heritage register.
“The neighbouring property sold for $1.025 million in 2012 and we anticipate Spring Cottage will sell north of this figure,” Damon said.
Spring Cottage is for sale via an expressions of interest campaign closing on 22 July.
It is the first time the property has been offered for sale in 140 years.
</body></html>

jchancellor-FAypfDUnLy

Hamilton's Spring Cottage, the quaint historic Brisbane garden offering

pwargent-M4siyDbqQY

Sydney supply problems, investor finance through the roof and "ferry good" Neutral Bay

<html><body>
The most expensive sales of the week have been gathered by <a href="https://www.myrpdata.com/" target="_blank">RP Data</a>.
Sydney homes dominated the top end of the market this week, with seven of the top 10 sales taking place in the New South Wales capital.
Two Victorian homes made the top 10, which all sold for $2 million or more. One Queensland home made the list.
While RP Data's top spot goes to 227a Gannons Road in Sydney's Caringbah, which sold for $3,160,000, it looks like it may have been pipped to the post by another $3 million plus home, <a href="https://www.realestate.com.au/property-house-nsw-roseville-117032687" target="_blank">58 Bancroft Avenue, Roseville</a> in New South Wales, pictured below.
<img src="/images/2014/06/17/11.jpg" alt="">
The five bedroom house at Bancroft Avenue beat Gannons Road by $200,000, selling for $3,360,000 on Saturday through mcconnell bourn Lindfield.
The home had undergone a $200,000 renovation prior to the sale. 
RP Data's top 10 sales for the week to June 15:
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-caringbah-116781467" target="_blank">227a Gannons Road, Caringbah, NSW</a> <img src="/images/2014/06/17/1.jpg" alt=""> This four bedroom, four bathroom, house sold for $3,160,000 through Highland Property Agents Cronulla (pictured above and in feature image). The waterfront home has views over Dolans Bay and a jetty, pontoon, boatshed and two boat ramps. The home has been discounted a number of times – it was first listed by the vendors in 2008 for $3,850,000, then again in 2013 $3,500,000. When the property went back on the market this year, the price was revised down again to $3,250,000. The vendors purchased the property in 2003 for $1,430,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-riverview-116970307" target="_blank">25 Coonah Parade, Riverview, NSW</a>  <img src="/images/2014/06/17/2.jpg" alt=""> The second highest sale of the week was secured by another waterfront Sydney home. This four bedroom, three bedroom house sold for $2,960,000 through LJ Hooker Lane Cove. The vendors purchased the property for $2,265,000 in 2010. 
</li>
<li>
<a href="https://%20http:/www.realestate.com.au/property-house-nsw-strathfield-116604891" target="_blank">25 South Street, Strathfield, NSW</a>
<img src="/images/2014/06/17/3.jpg" alt=""> A six bedroom Georgian house sold before auction for $2,900,000 earlier this week through Richardson &amp; Wrench Strathfield. Set on a 1,208 square metre block, the property has expansive tropical gardens and lawns. The sellers bought the home almost 20 years ago, for $535,000 in 1993. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-balwyn-116933183" target="_blank">7 Knutsford Street, </a><a href="https://www.realestate.com.au/property-house-vic-balwyn-116933183" target="_blank">Balwyn, VIC</a> <img src="/images/2014/06/17/4.jpg" alt=""> The top Victorian sale of the week was secured in the eastern suburb of Balwyn. This home sold for $2,840,000 through RT Edgar Boroondara. The vendors purchased the four bedroom house for $2,200,000 in 2002. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-kew-117024387" target="_blank">16 Raven Street, Kew, VIC</a>
<img src="/images/2014/06/17/5.jpg" alt=""> The other Melbourne home to make the top 10 for the week was a 1920s era four bedroom home in Kew. The home within walking distance of the Yarra River was sold for $2,410,000 through Kay &amp; Burton Hawthorn. It was purchased by the sellers for $701,000 in 1999. 
</li>
<li>
<a href="https://www.realestate.com.au/property-terrace-nsw-elizabeth+bay-116962327" target="_blank">51 Roslyn Street, </a><a href="https://www.realestate.com.au/property-terrace-nsw-elizabeth+bay-116962327" target="_blank">Elizabeth Bay, NSW</a> <img src="/images/2014/06/17/6.jpg" alt=""> A three bedroom, three bathroom terrace home sold in Elizabeth Bay sold for $2,340,000 this week. Selling through Richardson &amp; Wrench Elizabeth Bay and Potts Point, the renovated home was on the market for 23 days. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-sans+souci-117008347" target="_blank">34 Riverside Drive, Sans Souci, NSW</a>
<img src="/images/2014/06/17/7.jpg" alt=""> This beachside property sold for $2,310,000 through Raine &amp; Horne Sans Souci. The double brick four bedroom home is just across the road from the beach. It was sold at auction after being listed on the market for 19 days. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-greenwich-116854099" target="_blank">4 Hinkler Street, Greenwich, NSW</a>
<img src="/images/2014/06/17/8.jpg" alt=""> The four bedroom, four bathroom house near Lane Cove Bushland Park sold for $2,180,000 through Harbourline Real Estate. The vendors attempted to sell the house in 2011, listing it for 535 days with price expectations over $1.78 million before taking it off the market in March 2013. This year they had considerably better luck, with the home selling before auction. They purchased the home for $330,000 in 1988, and have advertised the property to renters for $1,300 per week. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-clovelly-117043807" target="_blank">13 Beach Street, Clovelly, NSW</a>
<img src="/images/2014/06/17/9.jpg" alt=""> This single storey brick home in Clovelly was sold through Raine &amp; Horne Bondi Junction for $2,013,000. The three bedroom house was purchased by the vendors eight years ago for $1,205,000.</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-minyama-116215119" target="_blank">8 Myoora Court, Minyama, QLD</a>
<img src="/images/2014/06/17/10.jpg" alt=""> The only Queensland home in the top 10 secured $2,000,000 for the vendors. It was sold through Elite Lifestyle Properties. The four bedroom, three bathroom luxury contemporary home with waterfront views has two kitchens and a pool.  </li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

The top 10 sales of the week: RP Data

<html><body>
Property investors and, increasingly, home buyers are being encouraged to look towards hiring a buyer’s agent to assist with their purchase. Understandably, when throwing hundreds of thousands, and sometimes millions, of dollars into an asset you want to get it right.
However, not every buyer’s agent is made equal and there are some profound differences between the different experts in our space.
If you missed it, last time we asked <a href="/expert-insights/buying/q-a-how-close-should-a-real-estate-agent-get-to-a-buyer-s-agent">'How close should a real estate agent get to a buyer's agent?'</a>
In our Tuesday Q&amp;A, Property Observer has taken the debate to Miriam Sandkuhler, the founder of <a href="https://www.propertymavens.com.au%20" target="_blank">Property Mavens</a> and author of Property Prosperity, and asked her the questions we wanted to get her opinion on – from whether commissions should be allowed to how much she thinks we should be paying.
What do you see as the key role of the buyer’s agent?
The role of a buyer’s agent is to research, source and negotiate to buy a property on a client’s behalf. They must always act for the client and advocate on their behalf, protecting their interests.
Just as a solicitor will act for both defendants and plaintiffs, a licensed buyer’s agent can act for a buyer or a vendor (in a selling capacity), but never both at the same time.
A buyers’ agent is in the market and negotiating every day, so their skills are well-honed and because they understand the market and the sales tactics real estate agents use, they are well placed to advise clients on how to buy the right property at the right price.
They also have access to the same information and databases real estate agents use which are not readily available to the public and can source ‘off market’ properties before the public finds out about them.
Most people only ever buy a few properties in their lifetime and can make the mistake of assuming because they have owned property; they are expert enough to identify an investment grade property.
Unfortunately each year I see people who have made this mistake - and paid the price in the tens of thousands of dollars.
Do you think a buyer’s agent should receive commissions from a developer?
Absolutely not.
If someone is receiving a commission from a developer, they are a sales person working for the developer and not for you, the buyer.
Whoever pays the fee is the client. That means if you are receiving “free advice” you are being sold to and the “adviser” does not have your best interests at heart. That includes someone calling themselves a "buyer agent" who is not charging you a fee or is rebating it when you sign a contract or at settlement.
You should always ask an agent, accountant, mortgage broker or financial adviser, if they are receiving fees from anyone else.  If you believe you are not being told the truth, refer them to Consumer Affairs in your state.
Never deal with anyone calling themselves a buyer agent who does not have formal real estate qualifications, as they cannot legally represent you in a real estate transaction and won’t be covered by professional indemnity insurance if things go wrong”.
You can search the Consumer Affairs website in your state which will have the Public Register of licensed estate agents. A buyer’s agent or buyer’s advocate should always be a licensed estate agent or agents representative.
What other sources should a buyer’s agent accept payment from? (E.g. property management referrals)
The issue of receiving referral fees is a matter for each agency to determine and the regulations differ from state to state.
For example in Victoria, if a buyer’s agent (or selling agent) receives a referral fee from a property management firm,  the landlord is required to sign a commission sharing authority approving the arrangement to ensure it’s a transparent transaction.
Some buying or selling agents elect not to take referral fees at all and merely require that a high level of service is delivered to the client. This is my preferred way of operating, because when there is no money changing hands, I can hold a service provider to account and keep the client’s interests at the forefront.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Do you think there is an issue in the industry of unscrupulous practitioners?
As with any industry, there are always some practitioners who are more professional than others and a minority who behave unscrupulously.
The biggest problem in the industry is people masquerading as a ‘buyer’s agent’ when in fact they aren’t qualified property advisors or licensed real estate agents and are taking a commission from a developer or a vendor to sell you a property. 
Another problem I see with some buyer agents is when they let their egos gets in the way of a good outcome at an auction -  determined to get a ‘win’ at any cost and show others they have ‘beaten’ another buyer or buyer’s agent.
I have seen occasions where two or more competing buyer’s agents bidding on the same property have driven the price well beyond its true value and this is not acceptable.
A buyer’s agent should never lead you into overpaying for a property to ensure an outcome for them. It can lead to problems financing the purchase, because if the bank valuations do not stack up, the client can be left in a precarious financial position.
Even worse, in my view, is where a buyer’s agent ‘switches hats’ and sells clients property they have bought on the market or developer stock to their clients. If a buyer’s agent tells you they have bought a great property they have come across and suggests you buy one too, but don’t charge you a fee, they are either profiting from the sale or earning a commission. While this is not illegal, the ethics of this in my view are highly debatable. At a minimum they should at least be transparent as to how their fees are being earned and who they legally represent in the transaction. In addition, if they own the property but charge you a ‘buying fee’ to purchase it, there is a definite conflict of interest here, even if transparent.
An emerging problem is accountants, financial advisers or others giving advice on which type of property to buy for a super fund (SMSF) or with a family law settlement.  Again an adviser must be qualified and have years of experience to understand what type of property will suit these different scenarios.
There has been some <a href="/news/collusive-auction-bidding-not-prevalent-consumer-affairs-victoria">media attention recently on ‘collusive bidding’</a>, where multiple buyer agents from the one firm bid at an auction to try and secure a property for a client. I don’t think it is unreasonable to do this because as a buyer’s agent they are just trying to counter the tactics auctioneers and agents use to sell property. 
How can a buyer ensure they don’t end up using one of these buyer’s agents?
Be aware! In some states there is no legal definition of a ‘buyer agent’, and the term can be misused.
To ensure you are engaging a professional buyer’s agent, ask them these questions:
<ol>
<li>Are you a licensed real estate agent or agent’s representative? 
</li>
<li>Do you have a qualification as a buyer’s agent? 
</li>
<li>How and when do you get paid? 
</li>
<li>Do you only buy property or do you also sell property for developers? 
</li>
<li>How many clients do you work with at any one time? 
</li>
<li>What happens if you bid for me auction and miss out? 
</li>
<li>How many properties will you negotiate/bid on for me? Will my fee change or is it fixed? 
</li>
<li>How will you protect me from overpaying for a property? 
</li>
<li>What recent client testimonials can you offer as evidence of your work?</li>
</ol>
What prices are reasonable for a buyer’s agent to charge?
The level of a fee must be linked to the value of the service delivered.
Buyer’s agents charge fees in different ways – sometimes fixed or sometimes as a percentage of the purchase price.  Many charge an engagement fee upfront with the balance paid on securing a property, while others have no upfront fee.
One method isn’t necessarily better than the other, it all comes down to the firm’s policy.
The old adage ‘you get what you pay for’ is what all consumers who want to engage a buyer’s agent should always keep at the front of their mind.
When engaging a buyer agent, be clear about what your needs are, what service is being offered and if your needs will be met for the price.
If you don’t think the deal is good value, then check with other buyer agents until you find someone you wish to engage. Gut feeling, compatible working styles and personality can also make a difference.
Note: Some of this information came from Property Prosperity, with Sandkuhler’s permission.
YOU MIGHT ALSO WANT TO READ
Q&amp;A: <a href="/expert-insights/buying/q-a-how-close-should-a-real-estate-agent-get-to-a-buyer-s-agent">How close should a real estate agent get to a buyer’s agent?</a>
<a href="/news/the-argument-for-against-buyers-agents">The argument for/against buyer's agents</a>
<a href="/news/how-buyers-agents-pick-the-best-performing-properties">How buyer's agents pick the best performing properties</a>
Select your buyer's agent wisely: <a href="/expert-insights/buying/select-your-buyers-agent-wisely-what-you-need-to-consider">What you need to consider</a>
Property Observer readers, and industry members, what’s your take on the debate?
</body></html>

Q&A: Should buyer's agents take commissions?

<html><body>
Choosing an apartment that is best suited to your personal lifestyle or investment goals is now about much more than just price.
Apartments today deliver an ever more urbane choice, where buyer demand has lead to a revolution in quality and design. As discussed in my last post, <a href="/expert-insights/buying/how-mixed-use-developments-will-continue-to-benefit-a-wide-range-of-mixed-users">the shift in user demographics plays a major role</a> and for many people apartments clearly tick the box for quality, design excellence and innovation. But this has not been achieved overnight.
Apartments from the 1970s may well reflect what is sometimes described as ‘the decade that taste forgot’. The 1970s brought us open plan living, colour – think orange and lime green – terracotta tiles, shag pile wall to wall carpets, big windows, indoor plants and one trend in particular, the use of exposed brick that still dominates some areas of our near city suburbs.
In the mid 1970’s apartment prices in Sydney hovered near $22,000 a decade later $66,000 and then in 1993 apartment prices started to rise and demand also increased for what was starting to become a more all-embracing product. Today the median price for a two bedroom apartment is around $850,000 but these bear no relation to any 1970s ancestor.
But even though some apartments can typically still cost less than a similar-grade house (although that gap is fast closing), in 2014 price alone is not the main consideration driving demand. While the decision to buy a particular type of dwelling is tied to demographics, shrinking household sizes, our ongoing housing shortage and a growing population are all factors.
The reality is that today, apartments are the home of choice for many people and first-class design, I think, is one key reason that can over-reach issues of affordability.
In February 2000 the then New South Wales Premier Bob Carr criticised the quality of the design of residential flat buildings. He challenged architects, the development industry and Local and State governments to do better.
“Australians can lead the world on how to balance urban densities with environmental comfort … The government, with councils, developers and architects, must work together on how to lift our game and create better, more liveable and sustainable suburbs.” (Premier Bob Carr, Sydney Morning Herald, 16 Feb 2000.)
Now almost 15 years after Bob Carr made those remarks has the industry faced up to his model and has the challenge been met?
I think we are well on our way to meeting, and in fact going past the ambitions. There will always be pressures to deliver enough housing in a high-growth future. But we also need to ensure that developments are well located and history shows that the arrival of new projects in some areas is not always welcomed.
However, this should not be allowed to frustrate or diminish the quality of medium or high-density residential buildings. In fact just the opposite. Because as design and quality improve new developments can add value to an area, boosting local demand and delivering sought after homes.
New apartments in our sought after suburbs are in high demand but there is only a limited supply of land, as for example, former commercial and industrial sites are regularly transformed. Understanding that sites are increasingly rare developers are now more than ever aiming to deliver exceptional projects to the market, from a marketing perspective I know that buyers now have ever higher expectations, and rightly so.
Picture of Woolooware Bay development: Supplied.
You can read Peter's discussion with Woolooware Bay architects, Kevin Driver and Angus Henderson from Turner Architects at Peter's blog, <a href="https://www.projectagenda.com.au/" target="_blank">Project Agenda</a>.
</body></html>

pchittenden-eLqUUC8TWW

The design dividend: First-class designs make apartments the home of choice for many buyers

<html><body>
A preliminary weighted average clearance rate of 66.6% was recorded this week across capital cities compared to 60.6% last week and 63.3% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3366" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Capital-city-580x426.jpg" alt="RP Data national auction comments - Capital cities" width="580" height="426"></a>
Sydney has returned a result consistent with its performance over the year and Melbourne has seen a strong week with another 1,000 plus weekend and a clearance rate above trend.
In the Sydney market a preliminary clearance rate of 71.7% was recorded compared to 67.3% last week.
<img class="aligncenter size-large wp-image-3367" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Sydney-580x381.jpg" alt="RP Data national auction comments - Sydney" width="580" height="381">
In Melbourne there was a preliminary clearance rate of 69.6% recorded compared to 62.4% last week. The traditional winter slowdown is more akin to the spring market in some recent years.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3368" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Melbourne-580x384.jpg" alt="RP Data auction comments - Melbourne" width="580" height="384"></a>
In Brisbane a preliminary clearance rate of 44.7% was recorded compared to 37.3% last week.
Adelaide recorded a clearance rate of 50% compared to 59.4% last week.
In Canberra a clearance rate of 42.9% was recorded and in Perth there was a clearance rate of 25%.
In Tasmania three homes sold from 14 auctions.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3369" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Brisbane-580x381.jpg" alt="RP Data auction comments - Brisbane" width="580" height="381"> </a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3370" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Adelaide-580x387.jpg" alt="RP Data auction comments - Adelaide" width="580" height="387"></a>
</body></html>

rlarocca-zWhvjay44N

Demand in Melbourne auction market rises: RP Data's national auction market wrap

<html><body>
<div class="page" title="Page 3">
<div class="section">
The proportion of loss making real estate re-sales has peaked, according to the latest RP Data report covering 64,518 residential property resales nationally over the first quarter of 2014. <div class="layoutArea">
<div class="column">
Nationally 9.8% of all homes which sold over the three months to March 2013 incurred a gross loss, just a tweak above the 9.7% in the December 2013 quarter.
It compared with a recent peak of 13.1% of re-sales over the three months ending January 2013.
With around 6.5% of all capital city re-sales recording a gross loss, capital city have had a lower proportion of loss making re-sales than the national average since early 2009.
The report coincides with record lows for subprime RMBS housing loans, as measured by Standard &amp; Poor's Performance Index (SPIN).
<img src="/images/2014/06/16/pain-june-16-one.gif" alt="">
Source: RP Data
The lowest proportion of loss making re-sales were in Sydney at around 3%.
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
Over the three months ending March 2014, 6.5% of all capital city re-sales recorded a gross loss compared to 16.0% of sales at a loss across the combined regional areas. Loss-making re-sales are down from 9.4% a year ago across capital cities and down from 18.2% in regional markets. 
</div>
</div>
</div>
Huge loss making re-sales are being recorded within the regional Queensland marketplace and in Tasmania.
Queensland’s Wide Bay region has recorded the largest proportion of loss making resales, with 30.6% of all March 2014 quarter re-sales transacting at a price lower than what the home was purchased.
The weakness in these two regions is mostly reflective of the conditions across the lifestyle markets where the correction in home values has been more significant, Tim Lawless at RP Data has previously advised.
Of those homes sold at a loss across Australia, those held for a short period of time have been more susceptible to loss despite home values having risen over the past year.
<img src="/images/2014/06/16/pain-june-16-two.gif" alt="">
Source: RP Data
Around 12% of owners who purchased and sold in the same year, sold at a gross loss, the RP Data Pain/Gain report noted.
</div>
</div>
</div>
</div>
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
"Keep in mind that the actual number of homes re-sold in less than a year is very small," Tim Lawless noted earlier this year.
But a greater proportion of loss making sales has occurred across those homes re-sold after three to five years (19.4%). 
"If an owner wishes to double their initial outlay upon re-sale they generally need to hold the home for at least a decade," Tim Lawless advised earlier this year.
The December quarter report showed 55.1% of homes re-sold between 10 and 15 years after purchase sold for double the purchase price and 95.1% of resales after 15 years were for more than double the initial purchase price.
The gross value of losses on homes re-sold over the March quarter was recorded at $381.1 million and the average gross loss per loss making transaction was $60,544.
Some 90.2% of all re-sales over the March quarter of 2013 transacted at a gross profit, with 30.6% of all re-sales at least doubling their money compared with their original purchase price.
The gross profit on these re-sales was $12.2 billion and the average gross profit per profit making transaction was $225,088.
</div>
</div>
</div>
</div>
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News