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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Scott Penn, the part owner and chairman of the Manly Sea Eagles, and wife, Nicola secured $4.28 million for their Manly beachfront apartment.
The sub-penthouse in the Waillea building was bought in 2010 for $4.38 million as a weekender but because they are so busy they haven’t used it very much and have decided to sell it.
The third floor apartment in in the Susan Rothwell-designed block on North Steyne.
It had been <a href="https://www.belleproperty.com/buying/NSW/Northern-Beaches/Manly/Apartment/12P4327-12-133-137-north-steyne--manly-nsw-2095" target="_blank">listed through Belle Property </a><a href="https://www.belleproperty.com/buying/NSW/Northern-Beaches/Manly/Apartment/12P4327-12-133-137-north-steyne--manly-nsw-2095" target="_blank">agent Anthony Calacoci</a>.
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jchancellor-FAypfDUnLy

Tide retreats a bit, but Waillea, Manly sub-penthouse sold

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Property entrepreneur Jono Deague and his wife, photographer Ella have snappily sold their contemporary South Yarra residence of seven years.
Set close to the CBD and a few minutes’ walk to Fawkner Park and Royal Botanic Gardens, the property came with $5 million plus hopes<a href="https://www.kayburton.com.au/property/99-millswyn-street-south-yarra" target="_blank"> through Kay &amp; Burton agents Michael Armstrong and Michael Gibson</a>.
The couple undertook a major renovation on the Millswyn Street property when they moved into the Botantic Gardens precinct.
The four bedroom home became a three bedroom, opening up more space throughout the residence which was built on the 415 square metre block which cost around $3 million in late 2006.
It comes with a spa, pool, cellar, gymnasium, and four car underground garage.
Jono (Jonathan) Deague is the executive director at Asia Pacific Group, which owns the Art Series Hotel Group, a collection of boutique hotels that includes the renowned Blackman Hotel on St Kilda Road, Cullen Hotel in Prahran, and Olsen Hotel in South Yarra. Ella is a photographer, working in interior design and architecture.
No price has been revealed though the agency <a href="https://www.propertyobserver.com.au/https://vimeo.com/96670539" target="_blank">declared it as a "bullish" sale</a> where the "good interest" matched up to "where the vendor was pretty accurately."
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Jono Deague snappily sells South Yarra home

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Serra Property Group are offering a free scooter with their one-bedroom apartments. The <a href="https://38highst.com.au/" target="_blank">38 High Street</a> Toowong, Queensland development (pictured above) does not come with car parks.
Bruce Goddard, marketing the properties through Place Projects, notes that buyers don’t need a car.
“There are a multitude of public transport options, with a bus stop just 10 metres away, the Toowong train station 50-metres away and the CityCat located 500 metres away, and being an inner city suburb, situated only a few kilometres from the CBD, it’s very easy to get around,” said Goddard.
The scooters provide an “added convenience” he said, with the developer only recently introducing the incentive. He noted it had been well received so far.
“You don’t need a motorbike licence to operate the scooter, only a car licence, so it appeals to most people, and we’re throwing in not only the scooter, but also a year’s registration and a helmet,” he said.
The remaining property includes half of the scooter-eligible one-bedroom apartments, and half two-bedroom apartments. They range from 51 square metres to 87 square metres and are priced from $378,000 to $795,000.
This isn’t the first time a developer has thought up the scooter enticement.
In a South Yarra development from Spec Property Group, <a href="/news/vic/vespa-offer-to-entice-buyers-to-south-yarra-one-bedroom-apartments">buyers were being offered a Vespa on the one-bedroom apartments</a>. Up to 20 were on offer, however these apartments – without car spaces – did come with scooter spaces.
Those one-bedroom apartments ranged from $339,000 to $445,000, between 39 square metres and 45 square metres.
Notably, Vespas are worth from $4,000 to $9,500, depending on the model.
The Vespa incentive first appeared in Jacksonville Florida, with buyers at the Chelsea Lofts being able to choose between receiving a Vespa, having their homeowner association fees paid for a year or getting a plasma TV.
Another popular buying incentive, this time offered on established properties, was in the form of food. Or, more specifically, ice cream.
A year’s supply was on offer for the <a href="/news/an-ice-cream-auction-incentive-to-entice-prospective-buyers">buyer of a newly renovated Albert Park house</a>.
This same technique was used <a href="/news/nsw/ice-cream-giveaway-with-camperdown-cottage-offering">six months earlier for the sale of a Camperdown cottage</a>.
Here are some examples of incentives previously offered by developers, from <a href="/expert-insights/building/from-10-000-to-50-000-residential-developers-tempt-buyers-with-incentives">covering your mortgage repayments to doubling your deposit</a>.
Developers have also been known to offer <a href="/expert-insights/building/new-cars-10-000-cheques-and-free-home-size-upgrades-six-spring-incentives-from-house-and-land-developers-and-builders">anything from cars, to providing you the property without a deposit</a>.
Property Observer readers were previously of the opinion that offerings in the form of incentives, such as <a href="/news/frequent-flyer-points-might-be-a-gimmick-but-will-off-the-plan-buyers-be-attracted-by-the-incentives">the trend of providing frequent flyer points based on the value of the purchase</a>, would indeed entice buyers. Of those who were polled, 71.4% said 'Yes', buyers would be tempted.
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jduke-EHk3XBmHkn

Developer offers free scooter, but no car park, to encourage off the plan apartment sale

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First home buyer grants aren't available for every first time buyer and there are many hoops that need to be jumped through. One of these hoops is buying a property that fits under a certain dollar value threshold.
Here are those cut off points across the country.
For more information as to which properties are eligible for a grant (the majority of offered grants are now for new builds only) you can <a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">see our state-by-state round up here</a>.
For those who aren't first time buyers, here are <a href="/expert-insights/investing/grants-for-non-first-time-buyers-a-state-by-state-guide">the other grants on offer around the country</a>.
AUSTRALIAN CAPITAL TERRITORY
Total value of eligible properties (home and land): $750,000 cap
Has applied since 1 September 2013.
Note: The new Over 60s Home Bonus Scheme has a cap of $764,999
NEW SOUTH WALES
At present, the cap for homes is $650,000.
For land, the cap is $450,000.
However, pre-budget announcements have <a href="/expert-insights/building/nsw-first-home-buyers-can-buy-up-to-750-000-under-extended-fhog">confirmed that this will now be increased to $750,000</a>.
NORTHERN TERRITORY
$600,000​ (established homes only)
QUEENSLAND
$750,000
SOUTH AUSTRALIA
$575,000
Note: The housing construction grant has a $450,000 cap.
TASMANIA
No limit.
VICTORIA
$750,000
WESTERN AUSTRALIA
$750,000
Or, if the home is north of the 26th parallel, then $1,000,000 or less.
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First home buyer price thresholds: The cut offs you need to know

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A preliminary weighted average clearance rate of 59.9% was recorded this week across capital cities compared to 66.4% last week and 61.4% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3346" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city-580x436.jpg" alt="RP Data National Auction Comment - Capital City" width="580" height="436"></a>
This is well below the year’s high of 76.2% recorded in late February, however comparatively low volumes this week reduce its value as an indicator to the state of the market.
In the Sydney market a preliminary clearance rate of 65.7% was recorded compared to 73% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3347" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney-580x391.jpg" alt="RP Data auction comment - Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 61% recorded compared to 65.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3348" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne-580x386.jpg" alt="RP Data auction comment - Melbourne" width="580" height="386"></a>
In Brisbane a preliminary clearance rate of 42.9% was recorded compared to 42.5% last week. Adelaide recorded a clearance rate of 63% compared to 55.3% last week. In Canberra a clearance rate of 50% was recorded and in Perth there was a clearance rate of 33.3%. In Tasmania four homes sold from 17 auctions.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3349" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane-580x386.jpg" alt="RP Data auction comment - Brisbane" width="580" height="386"></a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3350" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide-580x393.jpg" alt="RP Data auction comment - Adelaide" width="580" height="393"></a>
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rlarocca-zWhvjay44N

Low auction volumes across capital cities: RP Data's national auction wrap

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Australia's skyline is changing, with residential and mixed-use (including residential) highrises being built at a significant rate. While in some cities this is more prominent than others, some records are being broken and others are being tiptoed around.
Here are the current tallest towers that include some aspect of residential, and those set to take their titles, across Australia.
ACT
In Belconnen, Geocon’s 88 metre tall <a href="https://geocon.com.au/property/847-belconnen/%20" target="_blank">Wayfarer Apartments</a> (pictured below), a new 27-storey offering, hit the market earlier this year.
<img src="/images/2014/06/10/wayfarer%20jun%2010%20one.jpg" alt="">
Bringing 235 apartments to the market, it was revised down in height in 2013 after community concern. The new development will be located at 120 Eastern Valley Way.
It has over 150 apartments sold, with two-bedrooms and study/media room properties from $564,900, and three-bedroom apartments from $569,900.
Completion is due in late-2016.
It will take the title from nearby Sentinel Apartments, a 62 metre 2013-built offering of 20 storeys. Also in Belconnen, it is a creation of developer Morris Property Group and finished late last year.
NEW SOUTH WALES
Today, a $25 million state of the art creative hub – which is said to feature dance, theatre, music, film and visual arts facilities – has been launched on Bathurst Street. According to official information, the building is “set to be” the tallest residential tower on the street, called Greenland Centre. As reported yesterday, an offshore buyer is looking to <a href="/news/offshore-25-million-greenland-centre-sydney-penthouse-sale-prospect">snap up and combine three of the upper-level penthouses for $25 million</a>.
<img src="/images/2014/06/10/greenland_0003_Greenland%20creative%20hub%20windows.jpg.jpg" alt="">
The soon-to-be-built 115 Bathurst Street is set to be the tallest tower on the skyline, with Kannfinch explaining that it is a 4,000 square metre site with a retail and commercial podium. It will offer 70 residential levels, or 420 apartments, and will integrate with 339 Pitt Street.
Kannfinch, on behalf of Brookfield, organised the stage one development approval.
Pedestrian laneways have been introduced at ground level.
<img src="/images/2014/06/10/greenland_0002_Greenland%20creative%20hub%20exterior.jpg.jpg" alt="">
The building will sit at 240 metres in height, and will be “Australia’s most slender tower”.
It just about takes the title from <a href="/expert-insights/building/brookfield-secure-approval-for-slimline-sydney-tower-development-to-be-city-s-tallest-residential-high-rise">Meriton’s 230 metre tall 2004-built World Towe</a>r.
Western Sydney will also soon see themselves with a new tallest structure – <a href="/news/the-tallest-residential-tower-in-western-sydney-one-australia-avenue">One Australia Avenue</a> (pictured below)– at 30 storeys high or 106 metres tall. It will include 300 apartments and expects mid-2015 completion.
<img src="/images/stories/2013/01/oneaust2.jpg" alt="oneaust2">
<img src="/images/stories/2013/01/oneaust.jpg" alt="oneaust">
And Parramatta is also eyeing up the trend, with developers vying for the title for some time. In April, Property Observer noted that a new development application for the <a href="/expert-insights/buying/development-application-submitted-for-one-of-parramattas-tallest-towers">$250 million Riverside Tower at 53 levels</a> (pictured below) may surpass V by Crown, which currently holds the tallest title.
<img src="/images/2014/04/10/parramatta-april-10-one.jpg" alt="Development application submitted for one of Parramatta's tallest towers">
Article continues on next page. Please click below. 
<hr class="system-pagebreak">
QUEENSLAND
In Brisbane, a 90-storey CBD tower (pictured below) has been approved by the council with <a href="/expert-insights/investing/brisbane-tower-set-to-be-third-tallest-in-australia-and-loom-over-harry-triguboff-s-soleil">expectations for completion next year</a>.
<img src="/images/stories/flexicontent/l_111.jpg" alt="Brisbane tower set to be third tallest in Australia and loom over Harry Triguboff’s Soleil">
Billbergia is behind the 274 metre tower, and it will be 31 metres above Meriton’s Soleil tower.
With two towers, the larger will be a mix of commercial and residential, including a 380-room five-star hotel, and 800 apartments.
<img src="/images/stories/111inside.jpg">
However, the top title is still with 322.5 metre tall Q1 on the Gold Coast (pictured below). It remains notable for a $9 million apartment sale, which was resold at a later date for $7.7 million.
<img src="/images/stories/flexicontent/l_q12.jpg" alt="The taller they are, the harder they fall: Q1 prices falling steeply from boom-time Surfers Paradise highs">
VICTORIA
The 297 metre Eureka tower in Southbank (pictured below), built in 2006, remains unsurpassed. The 91 storey building pushed 120 Collins Street off the list at the time of creation.
<img src="/images/2014/06/10/eureka%20june%2010.jpg" alt="">
At present, there remain no contenders looking to take the crown.
WESTERN AUSTRALIA
The upcoming <a href="/news/wa/finbar-announces-tallest-tower-in-western-australia-as-east-perth-abc-site-redevelopment">Concerto building, as part of Finbar’s Symphony City redevelopment</a> at 193 Adelaide Terrace in East Perth, will become the tallest building.
<img src="/images/stories/2014/03/05/east-perth-march-5-one.jpg" alt="east-perth-march-5-one">
It will include 226 apartments and 38 levels, and is expected for 2017 completion.
It now has development approval and is expected to launch mid-2014.
TASMANIA
While the tallest Tasmania building is Wrest Point Casino, it appears the tallest residential title is Empress Towers, also known as “Battery Square Apartments”. It’s 42 metres high and covers 12 floors, and was built in the 1960s.
<img src="/images/2014/06/10/battery-point-june-10-one.jpg" alt="">
Property Observer hasn’t yet heard of any taller developments planned.
SOUTH AUSTRALIA
In late-2012, plans were being created for the potential next tallest residential building in Adelaide from developer Datong.
Located on the corner of both Flinders Street and Pulteney Street, the plans were initially for a 39-storey 135 metre tall tower. Now the tower is slated to be 110 metres tall and is expected to be mixed-use, including residential apartments. The Development Assessment Commission has now approved the ‘Palumbo Building’ as it is to be called.
It was initially expected that this would become the tallest in Adelaide of any type, a title currently held by Westpac House, however it appears that it will just miss this title. At present, King William Tower at 70 metres is the tallest residential opportunity.
NORTHERN TERRITORY
The 2008-built Evolution on Gardiner (pictured below) is a 99 metre 33-floor creation from Sunbuild. It initially had 2006 stated as their completion expectation.
<img src="/images/2014/06/10/darwin-june-10-one.jpg" alt="">
At 8 Gardiner Street, prices ranged from $840,000 to $1.52 million.
While it appears some tall residential towers are under construction, none are looking to take the title from Evolution quite yet.
Other areas are slowly opening up for development, with height restrictions becoming higher in Alice Springs under 2010 changes.
What upcoming tallest-in-their-area residential creations have you heard about? Share your most and least favourites in the comments below.
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The tallest residential towers changing Australia’s city skylines

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Sydney's cheapest long weekend sale was $348,000 at Auburn.
It sold pre-auction, as did many of the weekend offerings.
As soon as it was sold by First National Auburn Waters &amp; Carpenter, the investor buyer put <a href="https://www.firstnational.com.au/buy-residential-real-estate/apartment-unit-3-88-station-road-auburn-nsw-11421100562" target="_blank">the three bedroom 88 Station Road apartment</a> for lease pending its settlement.
Seeking $400 a week, the sale thereby reflects a 5.9% rental yield. It last sold at $230,000 in 2005.
Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.
<a href="/news/leichhardt-forges-another-residential-record-for-former-fire-station">Leichhardt has a new suburb record</a> with the current record-holder home selling on the long weekend for $3.05 million.
Set on 658 square metres, the four-bedroom, four-bathroom home <a href="https://www.realestate.com.au/property-house-nsw-leichhardt-116876611" target="_blank">sold through Ray White Inner West's David Eastway</a>. With that much land it is about three times bigger than the typical Leichhardt block.
It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.
{qtube vid:=ZXtDXy8QCE}
The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/50202" target="_blank"> a record $2.45 million</a> through McGrath.
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Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering

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It’s becoming a trend – well-located dumps selling for prices that would normally be achievable by trophy homes.
But, property owners shouldn’t go knocking walls in and stripping carpets from floors in an effort to get in on the action. It’s all about two things:
<ol>
<li>The buyer 
</li>
<li>The block</li>
</ol>
Property Observer notes that while the sales appear to be becoming more frequent, so-called “crazy Sydney prices” have been achieved by “dumps” for years.
For instance, in 2011 the termite-infested 58 View Street, Annandale sold for $800,000, $150,000 over reserve.
And 20 Union Street, McMahons Point, which was actually marketed by Blues Point Real Estate as “The Dump” (including on the signboard) snapped up $1,905,000 in June last year noting it was suited for builders, renovators and handymen. The 1880s terrace required a “total overhaul”.
Here are some of the most recent dumps achieving trophy home prices.
Stanmore - $923,000 sale
<img src="/images/2014/06/10/stanmore%20june%2010%20one.jpg" alt="">
This terrace home at <a href="https://www.realestate.com.au/property-house-nsw-stanmore-116950047" target="_blank">19 Durham Street, Stanmore</a> reportedly had more than 20 parties registered to bid.
The two-bedroom property saw bidding open at $600,000, according to the Inner West Courier, and sold to a builder – the majority of the interested notably came from developers and builders.
<img src="/images/2014/06/10/stanmore%20june%2010%20two.jpg" alt="">
<img src="/images/2014/06/10/stanmore%20june%2010%20three.jpg" alt="">
It hadn’t been on the market since its 1937 build and the two-bedroom, one-bathroom property was listed for auction as a deceased estate.
On 172 square metres, the agent described it as an art deco “very, very basic terrace” in “TOTAL disrepair” but on the best street. Photos show that there were holes in different surfaces as well as rubbish and dirt strewn around.
Leichhardt - $980,000 sale
<img src="/images/2014/05/26/leichhardt%20may%2026%20seven.jpg">
This property in Sydney’s inner west, in desperate need of renovation, was sold last month for just shy of $1 million, and had been empty for 20 years.
The <a href="/expert-insights/buying/rotting-leichhardt-shack-sells-for-just-shy-of-1-million">80 Edith Street house had an $800,000 opening bid, Jonathan Chancellor reported</a>, and was on 278 square metres.
<img src="/images/phocagallery/2014/05/leichhardt-may-26/liechardt_0003_leichhardt%20may%2026%20three.jpg.jpg">
It had development approval for a new home, and initial expectations were for $850,000 plus.
The rebuild is expected to net $1.6 million plus.
Redfern - $1.025 million
<img src="/images/stories/2014/02/03/red1/redfern_0000_1.jpg.jpg">
The February sale of a<a href="/news/redferns-median-house-price-hits-1-01-million-as-termites-dont-stop-debut-2014-auction-success"> “near knock-down” property at 48 Chelsea Street, Redfern came in $75,000 above reserve</a>.
The public trustee auction did require that the weatherboard timber façade would be kept under City of Sydney guidelines.
<img src="/images/stories/2014/02/03/red1/redfern_0002_3.jpg.jpg">
It was on 108 square metres and was marketed as “ripe for renovation”.
The buyer was from a family of builders.
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Mona Vale - $1.8 million
<img src="/images/2014/06/10/mona%20vale%20june%2010.jpg" alt="">
Sold at auction in February, it was up for sale for the first time in 50 years, and was a timber and sandstone cottage on a 565 square metre block.
Including ocean and beach views, the advertisement noted that 93 Narrabeen Park Parade needed “substantial rejuvenation or demolition” of the two-bedroom, one-bathroom home.
Tennyson Point - $3,788,000
<img src="/images/2014/06/10/tennyson%20point%20june%2010.jpg" alt="">
Sold in September last year <a href="https://www.realestate.com.au/property-house-nsw-tennyson+point-114600047" target="_blank">27 Beach Street </a>was snapped up by a family who spends most of the year in China and are intending to live in the home, Domain noted.
The fibro cottage is on a waterfront site, and includes 1,120 square metres of land with 20 metre frontage.
Property Observer notes that the few images available suggest it is in slightly better condition than some of the other “shacks” on the market, but the 1950s home was advertised as presenting the opportunity to “modernise, further develop or rebuild and create the dream lifestyle in an amazing location (STCA).”
With “one of the largest stretches of tidal sandy beach available on the bay” the level of interest is unsurprising.
Bondi Beach – approx. $15 million
<img src="/images/2014/06/10/bondi%20june%2010%20one.jpg" alt="">
And then there’s this <a href="/news/bondi-beach-knock-down-sydney-school-architecture-mansion-fetches-around-15-million">intense late-September sale of 23 Wilga Street</a>, as reported by Property Observer.
The three-storey brick home was on the market for the first time in 53 years, and after passing in at auction sold afterwards for around $15 million, although the price and buyers remained undisclosed.
Previously, triplex apartment developers were keen, offering around the $10 million mark, however suggestions are that it was an owner occupier who finally snapped up the property.
The site was advertised as ready to “contemporise or reinvent” and includes 700 square metres of land with substantial frontage, including ocean views that “can never be built out”.
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The Sydney dumps that sold for trophy home prices

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In the very early days of my career I can remember that the promise of being involved with a ‘mixed use’ development was always an exhilarating idea.
At the time mixed use was the development mantra of the day when a combination of commercial space, retail, hotels, public amenity and residential was being looked at on a new scale, with the aim of bigger and better.
Mixed use was seen not only as a way of adding a more complex layer of capital value and possibly increasing income from the project, but also as a way to better guarantee success in the long-term as the different uses acted in a harmonising way.
Mixed use developments were also seen as the ideal way to invigorate areas because they would hopefully attract a more diverse target market, in a way that say a freestanding office building could not. It’s also not that long ago when for example the Sydney CBD and to an even greater extent North Sydney CBD were seen as lacking soul and appeal because these areas where dominated by commercial office space. After hours and on weekends they were seen as dull and as retail and cinemas moved to big regional shopping centres the trend intensified. However over the past 20 plus years, in part due to the big increase in apartment projects, that view has turned around and both markets are now the dynamic centres we all know.
Mixed Users
We have come to understand that single-use markets usually have a limited life, while mixed markets offer wider appeal. However we no longer need to rely upon markets to hopefully evolve with a sort of planning wish list. We know that major mixed-use projects require a large capital investment, however today we have a variety of investment platforms and planning incentives that favour such development.This brings me to the emerging impacts that ‘mixed users’ will have for the residential market.
I suggest that when we think of mixed users we also need to include mixed generations of users as a key demographic of the market and how this might impact the appeal of a project.
Diversity has an important role, even an essential role to play in creating a vibrant community and this now applies more than ever to the demographics of a successful residential development. Many aspects of the demographic mix of our cities are now starting to change and successful developments are reflecting these changes.
For a variety of reasons we are now seeing the emergence of multi-generational households in the housing market. While in our social mix this is not a totally new phenomenon, the numbers are likely to start to grow in the future. There are already some early signs.
For example the number of three-person and six-person households increased in the 2011 census, while other groups were somewhat static. However the numbers of three bedroom dwellings feel while the number of one bedroom and two bedroom dwellings did increase, but most of this movement was concentrated across inner city locations. This points to larger numbers of singles looking for a strong social base, greater ‘connectivity’. This is in part associated with a multi-generational neighbourhood, the various age groups do not always have to be under the same roof to create a rich social fabric.
The Modern Family – It’s Here Already
The recent federal budget is forcing Australians to contemplate the idea of a shrinking middle class, with one result being that more young people are living at home longer. And when mum and dad do move, they might sell and be looking at a location where they can buy two apartments to replace the family home, but still retaining all family ties.
We also know that many retiring Baby Boomers want to age in place, or in the local area they are familiar with, the idea of retiring and leaving is no longer the preferred option and we know only too well that longer life expectancies are going to have a huge impact on housing demographics. The granny flat in the back garden is also another reality creating multi-generational households.
The multigenerational home or development project is clearly a housing type that is already in demand but may well become a much bigger market force.
This will I think result in projects offering well beyond the traditional mix of one, two and three bedroom apartments, if we have a vision for the 21st century then the impacts of multi-generational living will be far-reaching. So over the next few posts I am going to explore some of the options.
One example is the idea of mixed use projects, that have a mix of options not only extending to the choice of housing, but also how facilities are built, funded and shared, the blending of mixed use and users.
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How mixed-use developments will continue to benefit a wide range of 'mixed users'

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The nature of Australian media makes its difficult to have a genuine debate on any subject and real estate is no different.
This is particularly so for print media, where desperate attempts to stave off the inevitable (death) leads to more and more extravagant treatment of story lines that contradict most of the available research evidence (e.g. <a href="/expert-insights/investing/the-problem-with-first-home-buyers-isnt-affordability-its-expectations">the mythical affordability crisis</a>).
We’ve now had three clear instances in the past eight months of publicity junkies declaring “the property boom is over”, each time based on one month’s median price figures (dodgy at the best of times) from one unreliable source, only to have the notion controverted a month or so later by another more buoyant set of monthly figures.
Newspapers have been only too happy to regurgitate the press releases declaring the market dead, then re-born, then definitely dead, then miraculously resuscitated, then really truly absolutely dead, this time we really mean it.
If we can believe the headlines, the market peaked in October, then surged again, then peaked in February, then surged again, and more recently peaked yet again in May.
In the past week, individuals and organisations have clambered to be the first to declare, one more time: “The property boom is over.”
The first question that arises is: Which boom are they speaking of? Although most of the “I was the first to say it’s over” commentators refer to a thing they call “the national property market”, I’m quite sure they’re thinking of Sydney and extrapolating that situation across the country.
This must be so, because Sydney is the only major centre in Australia with exceptional growth figures. Nowhere else is booming, although there are other places with forward momentum.
The second question is: What does that mean, the property boom is over? Does that mean markets have ground to a halt? Does that mean prices have stopped rising? That people have stopped buying?
If that’s what these “publicity addicts” mean, then they’re clearly wrong.
I think we’re in similar territory to mid-2013, when people declared “the mining boom is over” at a time when projects worth over $250 billion were under construction. Then, as now, the declaration had little to do intelligent debate – it was nothing more than a desire to generate a headline.
There’s all sorts of evidence that makes nonsense of the idea that real estate markets are grinding to a halt, in Sydney and elsewhere. There is, for example, the evidence that sales volumes in the March quarter were <a href="/expert-insights/buying/march-quarter-strongest-for-house-sales-in-five-years">the highest for any March quarter in the past five years</a>.
There are the various arguments that have contributed to the BIS Shrapnel conclusion <a href="/expert-insights/buying/sydney-slowdown-fears-premature-15-unit-growth-tipped-over-next-two-years-bis-shrapnel">that Sydney will continue to show growth for the next couple of years</a>. This concurs with my own analysis of sales activity, which shows there is still a lot of momentum in markets across Sydney (keeping in mind that sales volumes are a far better barometer than median prices, which mislead more than they inform).
I’ve just finished analysing, suburb-by-suburb, sales activity in Perth for an update of our Price Predictor Index and there remains considerable momentum in this market as well. The current market cycle is far from over in Perth. There’s no doubt sales volumes generally are not rising at the rate they were in early/mid 2013, but sales levels remain elevated across Perth.
The same exercise has confirmed a steady improvement in Tasmanian markets, with suburbs in both Hobart and Launceston on the improve.
For these markets and elsewhere, it’s way too early to declare the end of anything. 
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