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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Here are the grants currently accessible by first time buyers, as per information available from the respective Office of State Revenues and Treasuries.
Please note that eligibility factors may influence the amounts available in each state. You can check out the <a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">national guide to first home buyer grants</a> to see a more detailed rundown of what's available across Australia for first home buyers.
$10,000
<ul>
<li>Victoria</li>
</ul>
For new properties a grant of $10,000 is available.
There is no grant for buying established properties.
<ul>
<li>Western Australia</li>
</ul>
A grant is available for first time buyers of $10,000 for those purchasing or building a new home. 
Those looking to buy established may be able to net a $3,000 grant.
 
$12,500
<ul>
<li>Australian Capital Territory</li>
</ul>
First home buyers in the ACT purchasing a "new" or "substantially renovated" property can net themselves $12,500. 
There is no grant for buying established properties.
 
$15,000
<ul>
<li>South Australia</li>
</ul>
For those buying a new home, since 1 January 2014 $15,000 is achievable.
For those purchasing established homes, currently $5,000 is attainable - dropping to $0 from 1 July.
<ul>
<li>New South Wales</li>
</ul>
First home buyers in New South Wales can currently net a $15,000 grant - however this will be reduced to $10,000 as of 1 January 2016.
This grant is only available to those who buy a new home or build their home.
<ul>
<li>Queensland</li>
</ul>
W hen purchasing new, Queensland first time buyers can receive $15,000. 
There is no grant for buying established properties.
 
$26,000
<ul>
<li>Northern Territory</li>
</ul>
From 13 May 2014 to 31 December 2014, a new home is applicable for a $26,000 grant.
An established property in an urban area will be provided $12,000 and elsewhere $25,000. 
 
$30,000
<ul>
<li>Tasmania</li>
</ul>
Currently, established and new properties can receive a $7,000 benefit for first time buyers.
For new properties, the First Home Builder Boost has increased since 7 November 2013 from $8,000 to $23,000, and applies until 31 December 2014. Those eligible for this would also be eligible for the $7,000 FHOG, bringing their total payment to $30,000.
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po-LsXgBTHBmX

Which state has the highest first home owner grant?

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The Block Vaucluse 2010 contestants Erin and Jake Michael have sold their Coogee apartment pre-auction for $668,500.
They are moving on following the birth of their son, Jagger last September. The couple married in September 2010.
Their two-bedroom Nathan Street apartment cost $406,000 in 2008.
They then spent around $100,000 on renovations for the 59 square metre apartment.
LJ Hooker Double Bay agent Sean Poche had been telling inspectors of <a href="https://doublebay.ljhooker.com.au/MB1F93" target="_blank">8/3 Nathan Street</a> more than $600,000. 
Erin is a <a href="https://webcache.googleusercontent.com/search?q=cache:x8FKPN_ZZwIJ:https://www.facebook.com/erinmichaelstyling+&amp;cd=1&amp;hl=en&amp;ct=clnk&amp;gl=au" target="_blank">freelance interior and food stylist</a>, working briefly for Real Living Magazine, and remains an accredited sports dietitian.
Contestants are now being sought for <a href="https://theblock2015.castasugar.com" target="_blank">another series of The Block </a>to be aired in 2015 after the Prahran office block conversion series, which will go to air later this year.
The location is yet to be confirmed.
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jchancellor-FAypfDUnLy

Post-Prahran 2015 Block contestants sought as Erin and Jake from the Block 2010 sell Coogee apartment

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Avondale Hall, marketed as one of Armadale's most beautiful homes, fetched $4.9 million at weekend Jellis Craig auction.
T<a href="https://www.jelliscraigbm.com.au/property/ARMADALE-15-Avondale-Road/7038611/#.U4HiIFxK7u0" target="_blank">he 1911 classic Queen Anne Revival home</a> comes with a combination of elegant and contemporary finishes.
There are five upstairs bedrooms.
The 800 square metre Avondale Road holding last traded at around $1.5 million in 1998.
<a href="/developments/armadale-vic-3143">Armadale</a>'s median house price sits at $1,627,500, according to RP Data, down on the $1,755,000 peaks in 2011.
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Armadale's 1911 Avondale Hall sells at $4.9 million

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Brunswick East’s formerly derelict, heritage listed, Tip Top bakery site is seeing settlement on properties as a $215 million rejuvenation nears completion.
The site, acquired by Little Projects in 2009, is separated out into six buildings, all with bakery-appropriate names: Stables, Seeds, Silo, Rye, Grain and Malt; Rothelowman are the architects behind the design.
Rothelowman have been active across Melbourne recently, shaping South Yarra boutique development <a href="/news/vic/rothe-lowman-designed-lex-crowns-south-yarras-alexandra-avenue">Lex</a>, 29-apartment <a href="/expert-insights/buying/rothelowman-designed-mosaica-apartments-to-launch-in-melbourne">Maribyrnong development Mosaica</a>, the <a href="/expert-insights/buying/jazzed-up-residential-tower-strikes-key-with-melburnians">"piano" facade La Trobe Tower</a> that is set for 2016 completion and <a href="/expert-insights/buying/construction-on-rothelowman-designed-aqueous-kicks-off">Port Melbourne's Aqueous</a> that has an appropriately bubble-themed building.
Heritage elements have been retained for the <a href="https://livebrunswickeast.com.au/" target="_blank">Tip Top site</a>, including the art deco stables and brick façade.
The 1.2 hectare site is now a lifestyle precinct, including a childcare centre with 92 places in the Seeds building, that includes a specially designed rooftop outdoor space.
The base of the Seeds building will also house a new café and an office at its base, and there is a base site available in the Stables building for either a retailer or office.
Many of the buildings include large entertainer’s balconies and city views, while each has a separate street address and private access to their properties. The internal laneways were designed by Urbis.
Little Projects managing director Michael Fox said that the site is located between Edward and Weston Street and had been dormant for close to a decade.
“We have always seen Brunswick East as an up-and-coming suburb and we have now unlocked this potential through this project with settlements already underway. This is an exciting step forward for Melbourne’s North,” said Fox.
“We’re creating a community, so we consider the flow-on impact on the surrounding streets and wanted to create a precinct that adds value to the neighbourhood and that people want to be part of,” he said.
Settlements of the apartments commenced in April, with a few two-bedroom apartments remaining and some commercial leasing opportunities.
Two-bedroom apartments in Silo were selling for $539,000 plus.
Property Observer previously reported that <a href="/expert-insights/buying/a-not-so-little-project-for-brunswick-easts-tip-top-bakery-site">some of the apartments were being offered for rent</a>, with one-bedroom from $300 per week and two-bedroom from $420 per week, with a move-in from May.
The median price for <a href="/news">Brunswick East</a> units is $475,000, commanding a median advertised weekly rental price of $395, according to RP Data.
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jduke-EHk3XBmHkn

Brunswick East's $215 million Tip Top bakery redevelopment sees settlements take place

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Melbourne had a solid year in real estate in 2013, its best since 2009/10, but it was well short of the “boom” claimed by some.
This has continued in the early part of 2014. Three different research sources, including the Australian Bureau of Statistics, broadly agree that the housing market has risen 10% or 11% in the past 12 months (although growth in the unit market has been considerably less – up about 5%, according to Australian Property Monitors).
The fundamentals of the Melbourne market – and several key regional markets – are strong and there should be further price growth in selected areas.
However, there are three key events which may influence prospects for price growth – a couple of them negative and one likely to be positive.
The first is the federal budget, which has hit consumer confidence and caused household belt-tightening. Consumer sentiment polls since budget night show a sharp decline in confidence.
The budget also makes severe cuts to funding to Victoria (and other states), particularly in the areas of health and education.
The second key event is the state election, which is scheduled for 29 November. Elections usually cause businesses and households to delay spending decisions.
Although this factor is somewhat overstated by media, the impact this year is likely to be enhanced by the federal budget and its consequences for Victoria’s finances.
<blockquote>
The fundamentals of the Melbourne market – and several key regional markets – are strong and there should be further price growth in selected areas.
</blockquote>
Marketers of real estate in Melbourne like to milk the mythical spring cow for all its worth, aided by a compliant media, but the so-called spring selling season is likely to be undermined by the undercurrent of political campaigning.
Beyond the political factors, the underlying fundamentals suggest growth in Victorian property markets. The latest data from the Australian Bureau of Statistics shows a 10.5% annual rise in loans to home buyers and a 24% annual rise in loans to property investors in Victoria.
And sections of the Melbourne market will benefit from the third key event, the Plan Melbourne document from the state government, particularly as many of the suburbs nominated as “national employment clusters” and as “key activity and job centres” already rate highly on the Hotspotting scale.
They include the municipalities of Brimbank, Dandenong, Wyndham, Whittlesea, Casey and Monash.
Dandenong City, which features in the plan as both an employment cluster and a key activity centre, is typical of areas which are under-rated by property buyers but which have all the credentials needed for solid price growth over time.
The power combination in real estate is affordability plus infrastructure plus jobs. Dandenong is one of several correct answers to that equation.
Others include the Sunshine precinct in Melbourne’s west (Brimbank City), the City of Casey in the south-east and Epping in the north in the municipality of Whittlesea.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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terryryder-YECXbqmri2

The three factors that will influence Melbourne price growth

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GUEST OBSERVATION
Supply and demand for Brisbane apartments are on the up. Property investors would do well to consider both the short-term and long-term supply and demand outlook for apartments.
For a few years after the GFC, Brisbane did have an oversupply of property in general. It's one reason why Propertyology elected to do very little investing in Brisbane for some time. Tighter credit policies post-GFC then made it very difficult for developers to acquire project funding which enabled Brisbane's surplus of property stock to be soaked up.
During the middle of last year, Propertyology observed an increase in buyer activity and Brisbane's market recovery got under way. While we don’t believe that Brisbane is the number one location to invest in right now we do like the city's outlook and are investing there again.
Over the last year, several new, multi-storey apartment complexes have settled around Brisbane; inner-city vacancy rates have increased to a more normal level of around 3% as a result.
Yes, there is a significant level of new inner-city apartments in Brisbane's pipeline. In our view, suburbs such as <a href="/news">South Brisbane</a>, <a href="/news">West End</a>, <a href="/news">Fortitude Valley</a>, and <a href="/news">Bowen Hills</a> should be avoided by investors. ‘Property consultants' with vested interests will undoubtedly tell you differently.
Generally speaking, there is a growing trend for increased demand for apartment living across most capital cities and in some regional locations. Over the two year period to March 2014, 43% of new residential dwelling approvals in Australia were for attached dwellings. Yes, almost half. This compares to 30% of total approvals for the two years ending March 2007. Quite an increase!
<img src="/images/2014/05/23/pressley%20may%2023%20one.png" alt="">
New South Wales (refer Sydney) had an even bigger percentage of attached dwelling approvals over the last two years -56% - while the ACT (Canberra) and Northern Territory (Darwin) are even higher at a whopping 63% and 60%, respectively. Victoria (refer Melbourne Docklands) and Brisbane also have high percentages of apartment approvals, 45% and 43% respectively.
The millions of Baby Boomer Australians seeking to exit the workforce over the next decade simply don't have anywhere near enough money squirreled away to retain their current digs and have a healthy income stream. More and more Baby Boomers will be attracted to selling the suburban house, downsizing in to apartment living, and releasing a few hundred thousand dollars to supplement their income.
Market analyst, Michael Matusik, recently said: "Brisbane City has an aging demographic profile.  Increasingly, much of the housing market across the Brisbane City area will be looking to downsize and/or retire.  This will fuel the need for more attached homes; often smaller in size than traditional detached housing.  The catch-cry is “place for space”, meaning that buyers will be looking to live in quality projects, in established urban areas. The Brisbane downsize/retirement market will experience its greatest growth over the next ten years.  Interestingly, the first home buyer segment and even the upgrader market is unlikely to grow as much in size as those downsizing, suggesting that resale supply of baby boomer-first generation homes may exceed demand (first time buyers and those upgrading)."
There are plenty of people who don't want to spend their weekends maintaining gardens. Many Gen Y, for example, see a lot of merit in apartment living. There is a growing number of Gen Y’s who either can't afford the mortgage payments on a suburban house and / or prefer the conveniences of inner-city lifestyles.
While there will be an increase in apartment supply in Brisbane, there will also be increased demand.
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).
Photo courtesy of Andrew Sutherland/Flickr/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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spressley-sBoeMhannA

Brisbane apartment market to see increase in both supply and demand

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A preliminary auction clearance rate of 66.1% was recorded this week across capital cities compared to 66.6% last week and 67.1% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3266" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Capital-city-580x425.jpg" alt="RP Data national auction comments - Capital city" width="580" height="425"></a>
Demand from buyers was clearly sufficient to ensure that the clearance rate was largely unaffected by the substantial 61% rise in homes on offer at auction compared to this time a year ago.
In the Sydney market demand strengthened with a preliminary clearance rate of 76.2% recorded compared to 69.9% last week. Buyers have welcomed the increased choice this week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3267" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Sydney-580x383.jpg" alt="RP Data national auction comments, Sydney" width="580" height="383"></a>
In Melbourne demand and supply continue to be well balanced with a preliminary clearance rate of 61.7% recorded compared to 68.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3268" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Melbourne-580x376.jpg" alt="RP Data national auction comments, Melbourne" width="580" height="376"></a>
In Brisbane a preliminary clearance rate of 49.5% was recorded compared to 46.5% last week. Adelaide recorded a clearance rate of 67.2% compared to 63.8% last week. In Canberra a clearance rate of 50.9% was recorded and in Perth there was a clearance rate of 45.2%. In Tasmania there was two sales from four results.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3269" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Brisbane-580x380.jpg" alt="RP Data national auction comments, Brisbane" width="580" height="380"> </a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3270" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Adelaide-580x382.jpg" alt="RP Data national auction comments, Adelaide" width="580" height="382"></a>
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rlarocca-zWhvjay44N

Volumes rise and demand increases across capital cities: RP Data's national auction market wrap

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More than 200 visitors attended an auction for GJ Variety’s Freedom House in Bomaderry on Saturday – a property that was up for sale to help provide a donation to the children’s charity Variety. 
The sale price for the four-bedroom home, of $430,000, will see more than $200,000 go to the charity.
Eighty plus local tradespeople and building suppliers got behind the project, donating time and materials, to build on the Variety block – that had already been provided at a discounted price by local Macdonald family.
The buyers were a couple from Cambewarra, Nathan Smith and Mel Irwin, who said they had been looking for a place “for ages”.
“It was brand new and beautiful and ticked all of our boxes. We are really happy with the price we paid and knowing that the money we’ve spent will also go to Variety to help kids in need, has made buying our first home all the more special,” said Irwin.
It is open plan, with mountain views and a 5.5 star energy rating, and located at 9 Banool Circuit, <a href="/news">Bomaderry</a>, where the median house price is $275,000, according to RP Data.
Construction on the property began on November 1, 2013.
G.J. Gardner Homes Shoalhaven director, Nathan Fay, said that a lot of thought when into every aspect to help maximize the amount of money raised at auction.
“It is located in the elite Meroo Views Estate and has stunning panoramic views across beautiful rural surrounds. Without compromising convenient proximity to Nowra town centre, this house offers family country living at its best,” Fay said.
A number of other similar projects have been planned, with <a href="/expert-insights/buying/bomaderry-house-auction-to-raise-money-for-children-s-charity-variety">hopes for the auctions to raise over $1 million for Variety</a>.
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More than 200 at Bomaderry charity auction, seeing $430,000 sale

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Fridcorp, the luxury Melbourne apartment developer, sold 141 apartments off the plan on Saturday in Sydney as apartment buyers search for something affordable in SONO (south of Newtown).
Some $100 million worth of the available 198 apartment stock sold in the first release in $145 million development, <a href="https://www.evebyfridcorp.com.au" target="_blank">Eve Apartments</a> in Erskineville through CBRE. 
Designed by DKO and Hecker Guthrie, Eve is Fridcorp’s first project outside of Melbourne. The apartments will have blond timber floors, streamlined galley kitchens and floor-to-ceiling doors leading out to balconies. There is also a communal rooftop garden.
The marketing campaign by Fridman’s founder Paul Fridman secured 5,000 names in pre-launch registration of interest for the apartments on the corner of Eve and Macdonald Streets.
<img src="/images/2014/05/27/eve-may-27-one.jpg" alt="">
<img src="/images/2014/05/27/eve-may-27-two.jpg" alt="">
Queues at the launch of Eve on Saturday 24 May. Source: Supplied.
Fridcorp acquired an adjacent Erskineville site in Sydney’s inner west beginning in March last year for $17.5 million which will see the project expand.
CBRE Residential Project Marketing managing director David Milton thinks proximity to public transport as a key influence in much of Erskineville's sales success of recent times. He noted that intending Eve owner occupiers exceeded the recent 65% that was evident at Leighton Properties' nearby Erko project.
Eve is a staged project overseen by Sydney operative, Craig Minahan and Colliers co-founder Bill McHarg with its partner, the mezzanine financier, Wingate Group which has $15 million of equity in Fridcorp’s project. 
The weekend success prompted Fridman to say: “You wouldn’t see this in Melbourne and in fact never in 17 years have I seen anything like this."
“My gut instinct is there is more demand than supply and it will continue to be that way for some time," he told the Australian Financial Review.
Fridman recently suggested the heat had come out of the Melbourne apartment market and while there was still demand, buyers had become more educated and discerning in their expectation of quality locations and fair pricing.
Fridman noted Sydney's average apartment costs more than the average Melbourne house.
Fridcorp’s Eve apartments were on average 15-20% dearer than the developer’s Melbourne apartments.
The two bedroom two bathroom apartments at Eve sold for an average of about $800,000, compared with Melbourne selling at around $670,000.
“Melbourne has more land to develop on whereas in Sydney it is hard to get land, so I think that is part of the appeal. We will probably sell out the rest over the next couple of weeks,” Fridman said.
<a href="/expert-insights/buying/fridcorp-s-eve-to-launch-tomorrow-in-erskineville">Eve's</a> one bedroom, one bathroom apartments are available from $525,000; two bedroom, one bathroom apartments from $750,000; two bedroom, two bathroom from $780,000; three bedroom, two bathroom from $1.1 million.
Of the apartments, 65% are one-bedroom from 50 square metres, 30% are two-bedroom from 72 square metres and 5% are three-bedroom, from 95 to 125 square metres.
Back in 2002 the property developer Austcorp International unveiled a new urban development, Motto, designed by Allen Jack + Cottier at Erskineville with prices starting at $329,000 for a 50 square metre one-bedder without parking and at $558,000 for an 82 square metre two-bedder.
David Milton was there in 2003 when 40 deposits were taken on the first weekend, with most interest from owner-occupiers, principally young professional couples.
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Eve in Erskineville secures $100 million in sales

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Tony Macvean, managing partner at law firm Hall &amp; Wilcox and a Committee of Melbourne board member, didn't sell his three-bedroom warehouse conversion on Richmond Hill under the hammer at weekend auction.
It was passed in at $1.1 million. But elsewhere Richmond agents secured under the hammer sales sales in 12 of their 14 weekend offerings, while the suburb's star AFL forward Jack Riewoldt was in Sydney kicking his bag of 11 goals against the GWS team.
Macvean and Amy Carroll bought the then newly converted property at 6/10 Waltham Place (pictured above) as a family home in 2004 for $780,000. And after it was passed in at a reserve of $1,215,000, post auction negotiations actually took the selling price to $265,000 above the reserve, according to the buyers' agent Frank Valentic.
They have rented it out more recently, initially in 2008 at around $780 a week. They are selling it to purchase a beach shack at Wye River.
The three-level property comes with two living areas. The second terrace has city views taking in the famous Pelaco sign. There is basement parking for two cars.
<a href="https://www.propertyobserver.com.au/https://www.bigginscott.com.au/property/details/17129" target="_blank">Julie Taylor of Biggin &amp; Scott</a> expected $1.2 million-plus.
<a href="/news">Richmond</a>'s weekend sales ranged between $285,000 to $1.19 million. The cheapest had been tipped to fetched $270,000 plus.
The top sale was another warehouse apartment, this one sold by Marek Olech, of Nelson Alexander, who was quoting $980,000 to $1.05 million for <a href="https://www.realestate.com.au/property-house-vic-richmond-116833807" target="_blank">3 Stewart Place</a> (pictured below) which was bought as a shell about 12 years ago. It has three bedrooms and top-floor open-plan living-dining with a terrace featuring MCG and city views. It came with a home office, dumb waiter and tandem garage.
<img src="/images/2014/05/26/richmond%20may%2026%20two.jpg" alt="">
The most popular suburb for auction listings at the weekend in metro Melbourne was <a href="/news">Glen Iris</a> in the inner east with 25.
There were 19 auctions including <a href="/news">South Yarra</a>, <a href="/news">Brighton</a> and <a href="/news">Northcote</a> in the north east.
<a href="/news">Preston</a> in the north east had 17 auctions listed followed by <a href="/news">Bentleigh East</a> in the inner south with 16.
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