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>
Looking to stamp out underquoting, Property Observer followed New South Wales buyer’s agent Patrick Bright on his push to have reserve prices published one week out from an auction. However, a Victorian petition has now arrived.
A petition has been launched in Victoria looking for a similar solution – but instead asks for the reserve price to be published from day one of the auction campaign. This would require the vendor to be ready with the reserve they are comfortable with from the day of advertising.
Property Observer regularly discusses underquoting. Here are<a href="/expert-insights/buying/six-must-know-facts-about-underquoting"> six must know facts about the debate</a>.
The <a href="https://www.change.org/en-AU/petitions/the-honourable-heidi-victoria-mla-vic-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-under-quoting%20" target="_blank">petition, from Miriam Sandkuhler</a>, John Keating, David Morrell, Christopher Koren and John Spragg, has over 100 signatures and asks for the Minister for Consumer Affairs, Premier, Opposition Leader and Shadow Minister for Consumer Affairs to take notice. It reflects the <a href="/news/online-petition-for-mandatory-reserve-price-publishing-launched">similar New South Wales petition from Bright</a>.
“Buyers in Victoria and interstate are frustrated with being misled about property prices and needlessly spending thousands of dollars on unnecessary building and pest inspections and contract reviews when attending auctions,” the Victorian petition says.
“In addition, Consumer Affairs Victoria ‘Guidelines for real estate salespeople; price advertising and underquoting’ are also frequently not adhered to across property being advertised for sale by auction.”
It noted that efforts to crack down on underquoting “have failed” and that Consumer Affairs Victoria “does not have the manpower or the skills to police the problem to the extent necessary to have a real impact in shutting down the deceptive practice.”
They want to see the reserve price published in both print and electronic marketing materials from the very start of the campaign.
Property Observer <a href="/news/should-auction-reserve-prices-be-published">poll respondents have noted that they would like to see reserve prices published</a>.
YOU MAY ALSO WANT TO READ Mark Armstrong's Underquoting: <a href="/expert-insights/investing/underquoting-the-clear-and-transparent-solution">The clear and transparent solution</a>
Room for debate: <a href="/expert-insights/investing/room-for-debate-are-melbourne-agents-underquoting">Are Melbourne agents underquoting?</a>
Letter from the editor: <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">More information not less please Queensland</a>
<a href="/expert-insights/investing/legally-underquoting-how-agents-get-away-with-it">Legally underquoting? How agents get away with it: </a>Catherine Cashmore
</body></html>

jduke-EHk3XBmHkn

Consumer Affairs Victoria “does not have manpower or skills” to police underquoting: Petition

<html><body>
For the first three months of 2014 there were 82,051 house sales and 30,417 unit sales recorded. Sales over the first quarter of this year were much softer than over the last quarter of 2013.
 Regardless, March 2014 managed to record the strongest first quarter for house sales since 2009, and the strongest for units since 2010. House sales were 7.9% higher and unit sales are 4.0% higher than for the same quarter in 2013.
 <img src="/images/2014/06/06/kusher-june-6-one.gif" alt="">
Sales volumes are generally lower over the first quarter of any year compared to the remaining quarters which is largely due to a slowing in housing market activity throughout most of January and often well into February.
Given this, it’s not necessarily best to compare sales between quarters because the housing market acts very differently in each period however, comparing to the same quarter in previous years does provide insight into the comparative performance of the market.
Across individual capital city markets, the annual change in sales is quite varied and dependent upon where each city is within the property cycle.
 <img src="/images/2014/06/06/kusher-june-6-two.gif" alt="">
In the more subdued capital city markets of Brisbane and Adelaide where value growth has been limited, these two cities managed to record the greatest annual rise in sales; up 21.1% and 10.8% respectively. Perth and Canberra on the other hand, have recorded falls in sales over the year, down -8.2% and -4.2% respectively.
By way of the variation between houses and units the pick-up in sales activity year-on-year has been greater for houses (7.9%) than it has been for units (1.2%). Over the first three months of this year, house sales were higher than in the same period last year across each city except for Perth (-5.9%) and Darwin (-6.0%). Focussing on unit sales, sales are lower over the first quarter in Sydney (-1.7%), Perth (-17.6%) and Canberra (-23.9%).
 <img src="/images/2014/06/06/kusher-june-6-thre.gif" alt="">
Historically there has always been a strong correlation between sales volumes and property values. If demand is greater and more homes are selling, the likelihood is that values will rise. Alternatively, if fewer buyers are active in the market selling conditions become tougher and values fall,” he said.
When the number of homes sales across Australia’s capital cities edge below 80,000 on a quarterly basis, values are typically rising by a quarterly rate of less than 2.0%. However, when quarterly sales fall to 70,000, this has generally been a trigger point for values to start falling.
While our March sales volumes data indicates that although sales are higher than they were a year ago, monthly sales activity isn’t as strong as it was at the end of 2013.
With the quarterly rate of home value growth having most recently peaked in September 2013 and quarterly sales having peaked shortly thereafter in November, it will be interesting to watch what happens to sales and values from here.
 <img src="/images/2014/06/06/kusher-june-6-four.gif" alt="">
The May RP Data-Rismark Home Value Index results released earlier this week confirmed that capital city home values fell by -1.9% in May 2014. Although this is likely the result of a seasonal influence on the reading, I question that with quarterly value growth peaking and sales volumes tapering, will volumes continue to ease and value growth continue to moderate? Alternatively, will the second half of the year see a rebound in both sales and values much like occurred over the second half of 2013?
While as yet we don’t know the answer to this question, we do know is that last year values rose by 3.0% over the first six months of 2013 followed by a 6.6% capital gain over the second half. With interest rates set to remain low, it may provide enough stimuli to see values start climbing more rapidly once more. We believe that the strong growth in late 2013 and early 2014 has peaked and although values are likely to keep rising, they will most likely do so at a more moderate pace.
This is largely due to affordability constraints becoming more prevalent in the market and both lower returns and capital growth potential for the investors that have been so active in the market. Adding to this is consumer sentiment, which has been trending lower since September last year.
</body></html>

ckusher-ujnxiKuFQs

March quarter strongest for house sales in five years

<html><body>
By now we have all heard that, for the first time in history, half the world’s population is living in cities. And the forward estimates indicate that this trend will only continue to increase.

In Australia, we have seen a gradual, but continuing shift away from the quarter acre block to more compact living spaces like apartments. In the municipality of Melbourne, this trend is captured in the statistics:

<ul>
<li>In 2012, 80% of homes were apartments</li>
	<li>From 2006-12, 93% of new homes built were apartments</li>
	<li>Our population is set to double by 2031, that’s an additional 80,000 people moving into City of Melbourne</li>
</ul>
While some Melburnians might be willing to give up their back yard, what’s becoming increasingly clear is that they are not willing to sacrifice quality. While high rise development is booming, prospective occupants have particular expectations around their quality of life as residents of the most liveable city in the world. City of Melbourne’s recent Future Living research clearly demonstrated that good quality design and amenity is high on the agenda of Melburnians.

We also know that residential mid and high-rise buildings are energy intensive, currently contributing 13% of carbon emissions in the city. Improving the efficiency of apartment buildings is therefore an important component of Melbourne’s Zero Net Emissions by 2020 strategy (February 2014).

What most apartment dwellers don’t realise is that high-rise apartments have been shown to be the most energy intensive dwelling type, using approximately 25 per cent more energy per person than standalone homes or townhouses. This is due in large part to the energy consumption of shared services and common property such as hallway and car park lighting, ventilation, pools, heating and cooling. Ultimately, this is costing apartment owners money in the form of higher utility bills.

New green buildings are changing this equation. However, given the lion’s share of Melbourne’s built environment is already constructed, retrofitting existing building stock is essential to keeping household running costs down and reducing emissions. That’s why we are offering the <a href="http://smartblocks.com.au/" target="_blank">Smart Blocks</a> program to our building managers, strata managers, apartment owners and residents.

Smart Blocks is helping apartment owners and their managers to improve the energy efficiency in apartment buildings, preventing money being wasted on unnecessarily high energy bills. At the core of Smart Blocks is an interactive online toolkit that helps people discover what energy efficiency or renewable energy improvements can be made to common property in their own buildings and make clear the steps to get projects approved.

Apartment living is seeing us live in closer physically proximity to each other, ironically this does not necessarily result in a stronger social fabric within the building. However, building improvement projects can only be realised when owners, building managers and apartment owners work closely together – and so we hit the residential building retrofit conundrum.

Our research clearly indicates that negotiating complex strata rules and regulations is a primary barrier to creating change in strata buildings. This is only amplified when it comes to coordinating a common area retrofit across an entire building, which often requires a significant financial investment. This is exactly the problem that Smart Blocks solves. It guides users through strata rules and regulations, and proves a shared online project management platform that can be accessed by owners, managers and renters alike.

One of the best things about Smart Blocks is that it brings people together and helps them make change on their own terms for the betterment of their building. Once they’ve made one change and demonstrated value, it’s easier to make the next one – and it feels good. This is the sweet spot because we see people coming together around projects that are relevant to their day-to-day life.

In recognising that working together is key to retrofitting buildings (and indeed the city) for sustainability, City of Melbourne have come to the table, and we’ve brought cake. Smart Blocks is here for the taking, along with support from the Smart Blocks officer here at City of Melbourne and a $3,000 rebate for energy efficient lighting upgrades and solar installations for common areas.

Whether it’s to drive down electricity bills (investing in energy efficiency could save your owners corporation up to 20-30 per cent in energy costs) or contribute to an Eco City, the need for energy efficient and renewably powered buildings have never been clearer.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Arron%20Wood%20Image-21.jpg" rel="gallery-all" title="City of Melbourne Councillor Arron Wood. Image supplied."><img alt="" class="image-article-full-width-580px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Arron%20Wood%20Image-21.jpg?itok=HZDi_59p" style="height:812px; width:580px" title="City of Melbourne Councillor Arron Wood. Image supplied."></a>

Cr Wood is Chair of the Environment portfolio and Deputy Chair of the Economic Development portfolio. He sits on the Victorian Adaptation &amp; Sustainability Partnership Ministerial Advisory Committee, the Parks and Gardens Advisory Committee, the Yarra Park Advisory Committee and is a board member of the Port Phillip and Westernport Catchment Management Authority.

Lead image credit: <a href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/35527156@N04/8761118550" target="_blank">Flickr</a>, CC BY-SA
</body></html>

arronwood

Adding value one block at a time

<html><body>
The key differences between the past two property cycles and the current one has become much clearer following Monday’s release of the <a href="https://image.e.rpdata.com/lib/fe591570776d03757d17/m/7/2014-06-02--rpdata-rismark-home-value-index.pdf" target="_blank" title="Read media release">RP Data-Rismark Home Value Indices results for May</a>.
The May results showed that the value of a house dropped by 3.6% in May resulting in a rise of only 1.6% over 2014. Unit values also fell by 2.6% over the year following; a drop of 3.4% in the month.
After a new nominal peak in Melbourne house values was reached in March, there has been two consecutive months in which values have fallen ensuring buyers in winter and early spring won’t face rapid price rises. In fact, they are likely to see houses valued lower than they were in real terms in 2010. This result should also eliminate any concerns that the local market was locked into a cycle of unstainable growth in prices.
This upswing phase in house values started in May two years ago and is clearly more moderate than the 2007 and 2010 cycles due to better alignment between supply and population growth along with the fact that consumers remain cautious. Over the past two years, house values in Melbourne have risen by 13.1%  and are now only 0.7% higher than the October 2010 peak.
There are 303 auctions scheduled this week in Melbourne compared to 197 for the same time last year. Volumes are temporarily low due to the long weekend.
So far this year there have been 16,357 auctions and a clearance rate of 67.5% compared to 68.6% from 12,341 auctions this time last year.
The high volume of residential listings this year is having a positive impact for buyers. Home values have fallen for the second month in a row and auction clearance rates have remained in the 60’s.
The RP Data-Rismark May Home Value Index released this week showed that the value of a house dropped by 3.6% in the month resulting in a rise of only 1.6% over 2014. Unit values fell by 2.6% over the year following a drop of 3.4% in the month. It’s unlikely that buyers over winter and into spring will see their purchasing power diminished.
We also saw a small fall in the average time on market for houses sold at private sale from 41 to 39 days. This was coupled with a rise in vendor discounting to – 5.5% from -5.4% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 1 June: 65.4%</li>
<li>Melbourne auctions expected week ending 8 June: 303</li>
<li>Melbourne private sales time on market week ending 1 June: 39 days (houses)</li>
<li>Melbourne vendor discounting market week ending 1 June: -5.5% (houses)</li>
<li>Listings being prepared for market are 1.1% higher in month ending 1 June (seasonally adjusted)</li>
</ul>
</body></html>

rlarocca-zWhvjay44N

Melbourne house and unit values fall for two consecutive months: RP Data's Melbourne weekend auction preview

<html><body>
Sydney’s apartment growth has been nothing short of amazing recently, and BIS Shrapnel has forecast in their Apartments in Sydney Suburbs 2014 to 2019 report that there are five local government areas expected to attract the most new high density apartment approvals over this period.
For the five years to 2018/2019, thousands of new apartments are expected per annum.
Here are the top five LGAs:
<ol>
<li>
City of Sydney Unsurprisingly, the City of Sydney tops the list with an expected 3,700 apartments per annum. The report notes that this is still, by far, Sydney’s main location for apartment development. It is under considerable occupier demand and offers “ample supply potential”. 
</li>
<li>
Parramatta LGA In what also could have been guessed by those keeping a close eye on the news, the fast growing Parramatta area is expecting a significant injection. This should see around 1,600 new apartments per annum, and will be in both the city centre and surrounds. Already, growth forecasts for this secondary CBD are significant. Increasingly, <a href="/expert-insights/buying/development-application-submitted-for-one-of-parramattas-tallest-towers">stories about the newest tallest towers are being seen for Parramatta</a>. A <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">$550 million step into Parramatta is also being taken by a Chinese developer</a>, planning to bring 11 new towers, called Promenade, to the area. 
</li>
<li>
Ryde LGA A total of 1,200 apartments per annum are expected, particularly due to the Epping to Chatswood railway opening up major sites for new development. Areas have been <a href="/news/macquarie-park-village-secures-same-day-378-apartment-sales-on-initial-north-ryde-offering">opened up to high density development due to this decision already</a>. 
</li>
<li>
Auburn LGA With 1,100 apartments per annum expected, activity is expected to be focused around Wentworth Point, Olympic Park and town centres along the rail corridors through the council area. 
</li>
<li>
Ku-ring-Gai Shire And last on the list is Ku-ring-Gai expecting 900 apartments per annum. The area is apparently a consistent performer, usually attracting higher levels of development along the North Shore rail line.</li>
</ol>
For more of the findings of BIS Shrapnel's latest report, you can <a href="/expert-insights/buying/sydney-slowdown-fears-premature-15-unit-growth-tipped-over-next-two-years-bis-shrapnel">read Property Observer's summary here</a>.
</body></html>

The five Sydney areas expecting to see the most high density apartments: BIS Shrapnel

<html><body>
A new report from BIS Shrapnel has said that recent concerns around a Sydney property market downturn are “premature” with strength expected over 2014/2015 and 2015/2016.
Just yesterday, <a href="/expert-insights/buying/four-reasons-the-property-boom-is-ending-propell">Propell National Valuers predicted that the property boom in Sydney is ending - for these four reasons</a>. Terry Ryder suggested that <a href="/expert-insights/investing/no-substance-behind-sydney-property-boom">the property boom is without "substance"</a> in November last year, and <a href="/expert-insights/buying/median-values-fall-for-the-first-time-in-a-year-lets-get-some-perspective">RP Data noted the first median value decline since May 2013 last month</a>.
According to BIS Shrapnel, behind the strength of the property market are low vacancy rates, low interest rates, relatively attractive yields and the expectation of capital gain.
BIS Shrapnel’s Apartments in Sydney Suburbs 2014 to 2019 report points to strong off the plan sales, which will underpin further rises in new high density apartment construction.
No oversupply is expected, but vacancy rates should ease and reduce pressure on prices “by the time the Reserve Bank starts looking at tightening interest rate policy” the report notes, suggesting that off the plan sales will come off their peak over 2016.
Senior manager and report author for BIS Shrapnel, Angie Zigomanis, said that the peak in apartment prices and sales by 2004 did result in the market being overvalued and oversupplied.
“The subsequent downturn resulted in the oversupply being absorbed by 2006/07, but it took several more years of rental growth before returns increased sufficiently for residential property to become attractive to investors again,” said Zigomanis.
“By the time interest rate policy was eased at the end of 2011, the Sydney market was coiled like a spring, and ready to take off,” he said.
“Successive cuts to interest rates continued to reduce the gap between rental income and mortgage repayments, causing investor demand to surge and drive up prices.”
KEY FIGURES
$45 billion
Total borrowed in the 12 months to March 2014 for the purchase of residential property in New South Wales
76%
The proportion this is above the 2010/2011 total
9,932
High density dwelling approvals in 2010/2011
20,354
High density dwelling approvals in the year to March 2014
18%
The estimated amount Sydney unit prices have risen over the past two years
15%
Forecast increase in unit prices over the next two years
Overseas buyers’ influence was also noted by Zigomanis, noting they’ve been buying apartments within inner Sydney and selected centres.
Gen X and Gen Y are also starting to contribute, with owner occupiers’ presence growing. Notably, however, investors are still the overarching dominance in the Sydney apartment market.
</body></html>

Sydney slowdown fears “premature”, 15% unit growth tipped over next two years: BIS Shrapnel

<html><body>
Do you know what the median house price is for your capital? The results are in.
<ul>
<li>
$678,500 - Sydney</li>
</ul>
<ul>
<li>
$560,000 - Darwin</li>
</ul>
<ul>
<li>
$555,000 - Melbourne</li>
</ul>
<ul>
<li>
$525,000 - Perth</li>
</ul>
<ul>
<li>
$520,000 - Canberra</li>
</ul>
<ul>
<li>
$448,000 - Brisbane</li>
</ul>
<ul>
<li>
$395,000 - Adelaide</li>
</ul>
<ul>
<li>
$345,000 - Hobart</li>
</ul>
<ul>
<li>
$545,000 - Combined capitals</li>
</ul>
Source: RP Data May index 2014 results
</body></html>

Numbers to know: Median house prices across the capitals

<html><body>
The Sunshine Coast market has finally entered a recovery.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/05/Sunshine-Coast-area-image-for-missive.jpg"><img class="alignnone size-full wp-image-7270" src="https://matusikmissive.com.au/wp-content/uploads/2014/05/Sunshine-Coast-area-image-for-missive.jpg" alt="Sunshine Coast area - image for missive"></a>
It has been a long time coming.  The Sunshine Coast, unlike other markets across south-east Queensland during the previous market upturn, didn’t necessarily overheat property value-wise; but instead, it was more hit by a collapse in tourism and retail spending, plus new residential development.
These three industry types were, historically, some of the major employers on the Sunshine Coast.  The Sunshine Coast, up until recent years, has suffered from a lack of ‘employment depth’.
Game changer
However, the new infrastructure being delivered around the Kawana area – namely the hospital and associated uses – is a game changer adding employment strength to the Sunshine Coast, whilst also helping to reduce the cyclical nature of its employment.
Today, close to 165,000 people are employed on the Sunshine Coast.  Over the past twelve months, 14,000 new jobs were created on the coast.  A total of 32,000 new jobs are expected in the Kawana area on infrastructure and housing build-out.  In 2001, unemployment on the Sunshine Coast was over 11%.  Today, it is less than the Queensland average.
The Sunshine Coast, in short, is creating new jobs and with this essential change comes an increase in population growth, a rise in dwelling starts, more sales, a lift in rents and a return to price growth.  Some large increases in dwelling prices are expected.
Price growth and demand
Our borrowing capacity analysis suggest that once interest rates normalise (increase) in coming years, dwelling appreciation on the Sunshine Coast will slowdown, but end prices are unlikely to drop unless variable mortgage rates rise over 7%.
Another big plus to the Sunshine Coast property cycle this time around is the undersupply of new stock and also the very tight local rental market.  The supply of property for rent is extremely tight.
The Sunshine Coast now has – and this might surprise many – a relatively young demographic profile.  Whilst it does have a growing retirement and age-care related market, these two buying segments are quite small when compared to the size and growth expected in the young renter and first home buyer markets.  Furthermore, the downsizing market is expected to contract in size and impact over the next 10 years.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/05/SC-Report-P-13.jpg"><img class="alignnone size-full wp-image-7255" src="https://matusikmissive.com.au/wp-content/uploads/2014/05/SC-Report-P-13.jpg" alt="SC Report P 13"></a>
These demographic shifts will see the need for more affordable property and more accommodation for a young rental market.  This will fuel the need for more one and two-bedroom apartments.
Price points
The key thing here is affordability.  Investors should look to buy property priced largely under $400,000 for second-hand stock, under $500,000 for new apartments and under $600,000 for new house and land.  At these price points, property should be met with consistent rental demand and attract owner-resident buyers on resale.
The Sunshine Coast property play moving forward is more about jobs and buying what I call “capital city stock”, rather than lifestyle coastal property.  So beachfront, top-end, luxury homes might not make the best investment on the Sunshine Coast for the next cycle or two – the underlying demographics don’t really support such.
Our modelling suggests a growing need for more residential construction on the Sunshine Coast; this will further help increase employment.  Yet in contrast, given the polarisation of the demographics – young markets and older ones – our Property Pulse™ reading suggests that the Sunshine Coast’s net housing demand will settle back (at a high level) in coming years.
This suggests that after this recovery and upturn, dwelling price growth is likely to be more subdued.
Final word
So, now looks like a good time to buy a Sunshine Coast investment.  Prices should increase over the next 12 to 24 months.  Rents are rising.  Investors need to buy affordable, mainstream rental property, not lifestyle-orientated stock.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
Photo courtesy of Wikimedia.
</body></html>

michaelmatusik-49YzLvdmNv

Sunshine Coast recovery has been a long time coming

<html><body>
May’s dip in home values has many wondering whether we’re at the end of a price boom, or whether we’re just seeing a seasonal dip in values.
Property Observer’s Jonathan Chancellor <a href="/expert-insights/finance/last-months-price-growth-dip-the-first-since-may-2013-so-rba-will-be-content">noted earlier this week</a> that home prices have dropped every May for the past three years, and that last month’s fall was the first in twelve months. 
However, Propell National Valuers are among those who think that the 1.9% drop in national home prices recorded by RP Data is cause for concern, with national research manager Linda Phillips writing that "the quantity of red ink is noticeable". This is the second time in a month that Phillips has claimed that <a href="/news/housing-boom-coming-to-an-end-propell">“booming” house prices are at an end</a>. 
Here are four factors triggering a change in the market, according to Propell.
<ol>
<li>Holidays. According to Propell, the combined Easter and ANZAC Day break gave "everyone pause for thought".</li>
<li>Falling consumer confidence.</li>
<li>“The negatively perceived federal budget”.</li>
<li>The approaching winter.</li>
</ol>
The<a href="/expert-insights/blooming-jacarandas-accompany-unusually-late-autumn-property-sales-burst-he-said-she-said"> unusually warm May in Australia’s south-east</a> has "not been enough to override a change in market sentiment."
Phillips predicts that media coverage of the price drop "will be enough to get would-be buyers backing off from the market". She expects that prices will trend downward in the months to come.
RP Data recorded price falls in most capital cities for May.
“Brisbane was supposed to be the one spot that would record strong growth in 2014 but it is not immune from the weak economy,” writes Phillips. Darwin was the one city that recorded an increase in dwelling prices over the quarter, with a 5.5% rise. However, Propell remains sceptical of the positive result.
“Darwin was the only capital to show an increase and that was due to a jump in unit prices of plus 4.7% which may turn out to get adjusted in coming months.”
Phillips expects that home prices will "stabilize or drift downwards a little as Australians adjust to a tougher life after the federal budget, in whatever form it passes through the senate".
Despite many experts forecasting a rise for interest rates when they do finally move, Phillips believes that economic conditions may push the Reserve Bank of Australia into cutting rates by the year’s end.
"As the economy weakens, and home prices stop driving economic activity, I am sticking my neck out and suggesting that interest rates will have to start falling again by the end of the year. The market is still trading on the assumption of interest rate stability but our rates are starting to look too high for the state of the economy," she writes.
"Without the excuse of rising property prices to sustain interest rates, the Reserve Bank is likely to come under pressure to reduce interest rates further, the only way to reduce the A$ exchange rate to a point where economic activity gets stimulated again."
</body></html>

jrichardson-uRX5hFdKfN

Four reasons the property boom is ending: Propell

<html><body>
GUEST OBSERVATION
Have we all recovered from this week's news that our homes fell in value by $10,355 last month?
According to RP Data, the typical $545,000 Australian property declined by 1.9% last month. And, it gets worse if you live in Melbourne where homes fell $19,980 (3.6%) during May. In just one month!
But, don't worry; anyone who is keen to make up for their loss in a hurry might buy in Darwin where a typical property grew in value by a whopping $30,800 (5.5%) over the last three months. 
It’s nice to know that yesterday’s RP Data statistics confirmed for us all that Australia is officially having a property boom. The combined value of properties across all capital cities has climbed by an impressive 10.7% over the last 12 months. With the extra $58,315 added to everyone’s balance sheet over the last year perhaps we can now all afford to cut back to a three day working week.
Confused?
Did we lose $10,355 last month, or did we gain $58,315 over the past year? Answer: none of the above!
As they say in the media though: “If it bleeds, it reads”.
According to Monday's RP Data, the 1.9% fall during May is the <a href="/expert-insights/finance/last-months-price-growth-dip-the-first-since-may-2013-so-rba-will-be-content">first monthly fall in values since May 2013 and the biggest fall since December 2008</a>.
On an annualised basis, the typical Australian home declined by 22.8%. Almost a quarter of the value of Australia's 9.3 million residential properties was wiped off the market last month.
Quick, I better sell that farm!
Changes in median values often don’t provide an accurate reflection of actual changes in property values. It’s not like RP Data sends out an army of property valuers each month to conduct formal values on every property in the country.
Median values are based on those properties which sold during a particular period (that’s a very small sample of data within a community). Given that a typical new property is worth more than a typical established property, it makes sense that, if there were a lot of new properties sold in one market over a reporting period that the median value would be higher.
A lot of new properties sold have sold in places like Sydney and Melbourne recently, <a href="/expert-insights/investing/the-shifting-dynamics-of-the-current-buyer-demographic">especially to investors of Asian origin</a>.
Trends in median property value changes are an unreliable measure of how a market is really performing.
As for what is really happening across the country, Sydney’s market appears to be tapering after a 12 month strong run.
The remaining capital cities, including Melbourne, have experienced price growth of between 0% and 6% over the past year.
Broadly speaking, Australia has finally shaken off the post-GFC gitters and entered in to a new (upswing) cycle.
As for the next year or two, PROPERTYOLOGY believes that most capital cities will perform better than last year.
But don't necessarily rely on reading that through future changes in median values.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and REIA / REIQ Buyer’s Agent of the Year (2012, 2013, 2014).
</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