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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Positioned opposite Victoria Park on a substantial 3,718 square metre block, Mimosa, the 1894 heritage listed Victorian Italianate mansion at St Marys has been sold.
The western Sydney home fetched $2 million mid-week. The suburb's median house price is at a record $377,500, <a href="/news">according to RP Data</a>.
Retaining original grandeur, it was the first <a href="https://www.dukesestateagents.com.au/Property.aspx?Property=702&amp;s=St%20Marys%20&amp;=mi&amp;=ma&amp;=t&amp;=be&amp;=ba&amp;=c" target="_blank">time offered in over 60 years</a>.
"It presented an once-in-a-lifetime opportunity to secure a local landmark," the Dukes Real Estate Penrith marketing said.
<a href="https://www.realestate.com.au/property-house-nsw-st+marys-116045467" target="_blank">It was sold through Craig Caughlan </a>who listed it last November with $1.95 million plus hopes.
Caughlan, noting that many house sales have been for consolidation and residential redevelopment, estimated the sale at least doubled the previous record.
It was built for master tanner Andrew Thompson, in the early Penrith district days.
The local St Marys historical society notes it was built in 1894 by local builder Joseph Sainsbury.
Mimosa was considered to be the most expensive home built in the district at that time. 
Apparently Andrew Thompson preferred to light the house with acetylene gas in preference to electricity and the home wasn’t switched to electricity until the 1950s.
He has started his first tannery with the help of an Irishman named John Briggs and he was the first Australian tanner to import the South African "<a href="https://www.stmaryshistoricalsociety.org/tributewi2004.htm" target="_blank">Mimosa</a>" bark which he found superior to the local product - this "Mimosa" emblem was used as his trade mark on his products and his family home in Pages Road. 
Andrew married John’s daughter Lydia in 1873. 
He died on his property “Lenore” on 30th October, 1918 and willed the family home to his spinster daughter Mary Thompson.
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Mimosa, the 1894 mansion sells at five times St Marys median

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While a rise in home values across Australia’s property market has been welcome news for Sydney and Melbourne property owners in particular, the flow on effect hasn’t been so favourable for rental growth and yields.
Rental growth has slowed markedly and rental yields are falling as value growth significantly outpaces rental growth.
<img src="/images/2014/05/22/kusher-may-22-one.gif" alt="">
The May RP Data-Rismark Home Value Index reported that combined capital city home values increased by 11.5%. At an individual capital city level, value growth ranged from 1.2% in Canberra to a 16.7% rise in Sydney. Australia’s combined capital cities recorded an increase in rental rates of 2.4% over the past year.
Sydney, Melbourne and Hobart are the only capital cities where rental growth was greater over the past 12 months than for the previous 12 months. At the other end of the spectrum, growth slowed across five of the eight capital cities with Perth experiencing the most extreme slowdown.
<img src="/images/2014/05/22/kusher-may-22-two.gif" alt="">
Over the 12 months to April 2013, Perth rental rates had increased by 10.4% compared to a -0.5% fall over the most recent 12 months. Sydney was the only city to record an increase in rental rates higher than inflation; up 3.7% over the past year.
With a large percentage of loans now going to investors at a time when the rate of rental growth is slowing would suggest that most investors are chasing capital growth rather than rental return. When you consider that the value growth in our two largest cities (Sydney and Melbourne) has been so strong over the past year, it’s no surprise.
<img src="/images/2014/05/22/kusher-may-22-three.gif" alt="">
Comparing annual value growth and annual rental growth across each capital city, home values rose at a faster pace than rental rates and as a result, rental yields experienced a fall over the year.
It wasn’t surprising to see that the greatest differences between home value growth and rental growth have been recorded in Sydney and Melbourne.
<img src="/images/2014/05/22/kusher-may-22-four.gif" alt="">
As a result of values rising faster than rental rates, gross rental yields have fallen over the past year across each capital city. The largest falls in yields have been experienced across Sydney and Melbourne where value growth has been strongest. These two cities also have the lowest yields of all capital cities at 3.9% and 3.4% respectively.
This highlight that as home values rise, the level of rental growth has not been able to keep pace.
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Flow on effect of rising home value is slowing rental growth and falling yields

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Sydney’s inner west clearance rate has been cooling but a dilapidated, rotting Leichhardt shack, in desperate need of renovation, or more likely demolition, sold at Saturday morning McGrath auction for $980,000. 
The home at 80 Edith Street, which attracted an $800,000 opening bid from the eventual buyer, hasn't even got a floor in the timber rooms.
The sale was effectively for the 278 square metre block with development approval for a new home.
The home, empty for 20 years. still had its rooftop television antenna. 
Just three of the eight registered parties put in bids on the property for which there were  <a href="https://www.mcgrath.com.au/buy/land-leichhardt-nsw-2040/224717/?searchID=39430462" target="_blank" style="line-height: 1.3em;">initial expectations of more than $850,000</a>.
McGrath agent Shad Hassen, who spoke right through the noise of the overhead Tiger jet departure from Sydney airport, predicts $1.6 million plus after any rebuild at 80 Edith Street.
<img src="/images/2014/05/26/leichhardt%20may%2026%20seven.jpg" alt="">
Leichhardt’s median house price is $927,500, <a href="/news">according to RP Data</a>. 
As such it is not among the 170 suburbs with a $1 million median house price, according to Australian Property Monitors.The figure comes from sales data over the six months to March.
Sydney's upper north shore region recently became the fifth of eight regions that now sat within the $1 million plus median house price range.
The other regions already with $1 million medians include the city and east, the lower north shore, the northern beaches, and the inner west which was included only last year.
The Leichhardt offering was among the 800 properties listed for auction in Sydney on the weekend, which APM suggest is nearly double the 422 homes auctioned over the same weekend last year. 
Sydney’s inner west hosted the most auctions with 124 followed by the city and east with 116, the south with 110, the upper north shore with 90, the lower north shore with 74 and the west with 71 homes listed to go under the hammer.
 
The Sydney auction market bounced back at the weekend recording its highest clearance rate for eight weeks. The preliminary Sydney rate of 79.3 percent was helped by the inner west with 83.0 percent.
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Rotting Leichhardt shack sells for just shy of $1 million

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Fridcorp’s first Sydney project, Eve, is set to launch their display home on Saturday 24 May with around 200 new apartments coming to market. 
The Erskineville development, which includes one, two and three bedroom apartments, is situated on the corner of Eve and Macdonald Streets.
It is expected to be a glitzy affair after they sent out fancy scented candles to potential buyers, according to The Australian, and after <a href="/expert-insights/buying/fridcorp-host-completion-party-for-avenue-in-south-yarra">their recent launch of South Yarra development Avenue</a>, which saw Manu Fiedel catering and a number of models hired for the event.
With interiors from Hecker Guthrie and dKO Architects, <a href="https://www.evebyfridcorp.com.au" target="_blank">Eve</a> is 250 metres from the train station and 10 minutes to the CBD.
It includes views of Sydney Park to the CBD, wide frontages and balconies, storage space and a communal rooftop leisure deck with private central courtyard.
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. Each comes with parking, built in wardrobes and air conditioning.
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Fridcorp’s Eve to launch tomorrow in Erskineville

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Across the country, numerous changes have been made to first home owner grants and whether you are eligible. Similarly, looking to move to a different state can change the amount of the grant you can achieve by thousands of dollars.
Other upcoming date changes can also have an impact.
Looking at the grants, several common eligibility factors remain in place. Usually, a spouse or de facto who already owns property stops you from being able to achieve the grant. Similarly, any ownership of your own can have an impact (note, however, that some states and territories allow previous ownership of investment properties in certain years). Residency is also usually required, for at least one of the de facto couple.
You will also be required to live in the property for a period of time within 12 months of completion - this is usually six months, however the trend has been to increase this to 12 months of continuous owner occupation.
You need to fill the form out in a timely manner, and be clear on whether the respective government uses settlement date or contract date as the important figure. If you're buying around a grant change, this becomes even more crucial.
Those who fail to fulfill these requirements can see themselves fined, along with being required to refund the grant.
Here are the grants current accessible by first time buyers, as per information available from the respective Office of State Revenues and Treasuries. Australian Capital Territory
First home buyers in the ACT can net themselves $12,500 after a grant increase from 1 September 2013. However, you will need to be buying a "new" or "substantially renovated" property worth $750,000 or less.
Those buying established properties have no available grant.
Those who want to get the FHOG will also need to stay in the property for 12 months upon completion of the dwelling - this is an increase from the previous six months.
For clarity, it's noted that new or substantially renovated properties include:
<ul>
<li>A home that has not been previously occupied or sold as a place of residence; or 
</li>
<li>A substantially renovated home that, as renovated, has not been previously occupied or sold as a place of residence; or 
</li>
<li>A property which is subject to an "off the plan" purchase agreement.</li>
</ul>
You have a period from exchange of contract to one year after either settlement or date of issue of the Certificate of Occupancy in which to claim the grant.
Owner builders can only lodge after the home has been completed.
Payment of the grant is usually then made within 10 days of lodgement.
First home owners who fulfil the requirements for the grant may also have the opportunity to defer their stamp duty.
New South Wales
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. The property's value must not exceed $650,000.
Their clarification of what falls under this bracket includes the following:
<ul>
<li>A home that has not been previously occupied, including occupation by the builder, a tenant or other occupant; 
</li>
<li>A home that has not been previously sold as a residence. Where the home is being purchased, it must be the first sale of that home; 
</li>
<li>A home that has been substantially renovated and a home built to replace demolished premises.</li>
</ul>
To access the grant, applications need to be lodged within 12 months of completion of settlement.
You must live in the property for a continuous six months within the 12 month completion date.
Duty exemptions are available for new properties, commencing from 1 January 2012, for properties valued up to $550,000 and concessions for those from $550,000 to $650,000.
Those buying vacant land will pay no duty on vacant land valued up to $350,000, and concessions from $350,000 to $450,000.
To be eligible, you must not have owned and occupied (for more than six months) a home in Australia after 1 July 2000, and you cannot have owned a property before this time.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Northern Territory
First home buyers in the Northern Territory can see themselves given an extra $26,000, with established first time buyers not left out of the picture either.
From 1 January 2015, the First Home Owners Grant, however, will be redirected solely to first home buyers looking to buy or build a new home.
Currently, as of 13 May 2014, there exists a transaction eligibility threshold (in plain English, this essentially means that the property can only be worth up to a certain amount) for established properties only. Prior to this time, both were given a limit.
An established home is concerned one that has been "previously sold or occupied, and is lawfully fit for occupation."
A new home is considered one that has never previously been lived in or sold as a place of residence.
However: "To prevent anomalies, a discretion applies in limited circumstances to declare a home that has been previously sold, but not occupied, to be a new home."
It's slightly more complex for our first timers up north, however - the current eligibility threshold for established properties sits at $600,000.
From 13 May 2014 to 31 December 2014, a new home can bring in $26,000. Meanwhile, an established property in an urban area will be provided $12,000, and everywhere else will be given $25,000. The only material difference in grant money compared to 4 December 2012 - 12 May 2014 is an extra $1,000 for new homes (and threshold changes).
Urban areas basically means land that sits within the Darwin, Palmerston or Litchfield municipalities. It also covers Wagait Shire, the Darwin Waterfront Precinct, the "prescribed area" for the Darwin Rates Act and other areas potentially proscribed by regulation.
Since December 4, 2012, there has been no stamp duty concession for first timers.
Queensland
Queensland first time buyers, when purchasing new, can get themselves $15,000. Unfortunately, nothing remains for first time buyers who are purchasing established properties.
Their Great Start Grant was updated in 2012, previously being known as the First Home Owner Construction Grant and is available for all eligible transactions since 12 September 2012.
It is available for those buying new (or substantially renovated properties) or building a new home.
If you previously held any interest in residential property before 1 July 2000, even if it was an investment property, you're not eligible. Those who have had a property since - but used it solely for investment purposes and did not live in it - may be eligible. You'll need to give them tax return details, tenancy agreements and current electricity and phone accounts.
Grant applications are processed within 10 days of receiving the information.
Those looking to get the grant then must move into the property within one year of completion, and live there for six continuous months.
South Australia
South Australian first time buyers are currently eligible for a FHOG on both new homes and established homes - however, they will lose the ability to be given the grant on established properties from 30 June 2014.
The property value must not exceed $575,000.
For those buying a new home, since 1 January 2014 and until further announcements, $15,000 is achievable.
For those purchasing established homes, current $5,000 is attainable - dropping to $0 from 1 July.
If you previously held any interest in residential property before 1 July 2000, even if it was an investment property, you're not eligible. Those who have had a property since - but used it solely for investment purposes and did not live in it - may be eligible. You'll need to give them tax return details, tenancy agreements and current electricity and phone accounts.
After the property is built, you must then live in the property for six months commencing within 12 months of completion.
Off-the-plan properties may also be eligible for a stamp duty concession for a new apartment or substantially refurbisged apartment. Thisis for properties from 31 May 2012 to 30 June 2014, capped at the stamp duty payable on a $500,000 apartment (or $21,330). A partial concession will apply from 1 July 2014 to 30 June 2016.
The concession does, however, apply to specific areas as outlined on the Revenue SA site and associated maps.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Tasmania
Currently, established and new properties can receive a benefit for first time buyers, with up to $30,000 available. As in many other states and territories, this is altering from 1 July 2014, and will see established home buyers lose the benefit. Established property buyers can currently get themselves $7,000.
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.
To be eligible, you must not have owned and occupied (for more than six months) a home in Australia after 1 July 2000, and you cannot have owned a property before this time.
When you get the FHOG, you need to live in the property for a continuous six months within 12 months of the data that the certificate of occupancy is issued.
Victoria
Only new properties get first time buyers a grant in Victoria, as of 1 July 2013. A payment of $10,000 is available.
It is only available for properties that do not exceed $750,000 in value, apartment from properties on primary production land.
You must live in the property for 12 months continuously, within 12 months of settlement.
The reduction in duty is becoming increasingly attractive - initially, 20% was reduced on 1 July 2011, followed by 10% on 1 January 2013, 10% on 1 July 2013 and an upcoming 10% on 1 September 2014.
Western Australia
A grant is available for first time buyers of $10,000 for those purchasing or building a new home. This has been available since September 2013. Those looking to buy established may be able to net a $3,000 grant.
Eligible properties are to a limit of $750,000 , or $1,000,000 if located north of the 26th parallel. This cap was introduced in early-2010.
To be eligible, you must not have owned and occupied a home in Australia after 1 July 2000, and you cannot have owned a property and lived in it prior to 1 July 2004.
You must live in the property for a continuous six months within 12 months of completion.
An extra benefit for West Australian first timers is the Home Buyers Assistance Account, which can provide $2,000 in help. Essentially there for 'extra' fees around buying, such as solicitor fees and valuation fees, you must be buying a property for $400,000 or less. It must be an established or partially-built home.
You must live in the home for the first 12 months, purchase through a licensed real estate agent, have not owned property in Australia before and must have the loan financed through a lending institution. This $2,000 comes from interest paid on real estate agents' trust accounts.
First home owners also receive a discounted stamp duty rate. For properties with an established home, no duty is payable up to $500,000. After this bracket, $22.51 per $100 is payable. For vacant land, no duty is payable up to $300,000, and after this $13.01 per subsequent $100 is payable. For vacant land, you will need to pay this upfront and then retrieve a refund on receipt of the FHOG - once you have completed the build.
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The national guide to first home buyer grants

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The six bedroom Brighton home which has accommodated the latest batch of Masterchef contestants on the Channel Ten competition, has been listed for sale.
<a href="https://www.marshallwhite.com.au/323-st-kilda-street-brighton-7027769/" target="_blank">It was designed at 323 St Kilda Street</a> by Peter Carmichael, and then constructed by Everclear.
"Un-paralleled luxury levels make their presence immediately apparent throughout dramatic, dynamic spaces for living, dining and entertaining that are matched by equally memorable alfresco areas while a Miele equipped kitchen, filled with northern light, meets contemporary needs with evident elegance and efficiency," the Marshall White marketing suggests on the Brighton offering.
"It is a home of substance and status," Marshall White agent Michael Paproth said.
It comes with home cinema, play room, cellar, swimming pool, spa and gymnasium, security surveillance and garaging for six cars on an allotment measuring some 1883 square metres.
The beach and the bay are at the end of the street.
It has been listed with $5 million plus expectations.
Thousands auditioned, with judges Gary Mehigan, George Calombaris and Matt Preston scouring the country to handpick Australia’s best home cooks, selecting the Top 24 to join them in Melbourne’s MasterChef Australia kitchen in the sixth series, and second in Melbourne.  <a href="https://tenplay.com.au/channel-ten/masterchef/photos/selfies-gallery#17" target="_blank"></a>
<a href="https://tenplay.com.au/channel-ten/masterchef/photos/selfies-gallery#17" target="_blank">The 24 contestants who share a passion for food, while bunking down in Brighton</a>, are competing for $250,000 cash, a Hardie Grant cookbook publishing deal, work experience in some of Australia’s best kitchens and an Alfa Romeo Giulietta.  
Close to 70% of MasterChef Australia alumni now work in the food industry.
This week Property Observer revealed <a href="/news/channel-tens-the-bachelor-heads-to-hunters-hill-leaving-la-joie-de-vivre-behind">Clifton, the heritage listed Hunters Hill mansion, is the home of the next series of The Bachelor</a>, replacing La Joie de Vivre at Bayview.
The reality television show on the struggling Network Ten is currently being filmed in the stunning Sydney mansion.
It last sold in 1993 for $2.75 million.
The 5,124 square metre near-riverfront estate with a lawn tennis court was recently vacated by the McCaffrey family.
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MasterChef Australia home in Brighton for sale

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Melbourne auction volumes remain high as there are 1,137 auctions scheduled this week in Melbourne, compared to 823 at the same time last year. This will be the ninth week with more than 1,000 auctions in Melbourne.
The highest number of auctions this week is in <a href="/news">Glen Iris</a> with 24 followed by <a href="/news">Northcote</a> and <a href="/news">South Yarra</a>, both with 19.
The Melbourne auction market continues to record reasonable clearance rates in light of the very strong volumes.
Volumes in the auction market are consistent with those across the residential market which is seeing more new homes being listed and more sold. In Melbourne there are 31,604 homes listed for sale, 8.7% lower than a year ago. At the same time new listings have been consistently higher than a year ago, over the month ending 18 May there was 15.7% more new listings.
Key data
<ul>
<li>Clearance rate week ending 18 May: 68.5%</li>
<li>Melbourne auctions expected week ending 25 May: 1,137</li>
<li>Melbourne private sales time on market week ending 18 May: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 18 May: -5.5% (houses)</li>
<li>Listings being prepared for market are 1.3% lower over the month ending 18 May (seasonally adjusted)</li>
</ul>
Source RP Data
The average number of days a house spends on the market has fallen to a new low according to the latest RP Data monthly update.
In March a house for sale by private sale in Melbourne spent 35 days on the market. As most auction selling campaigns are around 28 days, it is interesting to note that private sales are delivering, in broad terms, similarly quick sales.
This is also significant because the majority, around 69% in 2013, of Melbournians sell by private sale.
Comparing March this year with the past few years shows the change clearly, last year the time on market was 45 days, the year before that it was 57 days and in 2010, when the market last peaked, it was 38 days.
There is clearly a reflection between the strength of the market and the time it takes to sell a house.
Units are taking slightly longer; around 37 days – but this is not a significant difference and they show a similar trend over time.
On a suburban level the shortest time on market is generally found in the outer east of the city in <a href="/news">The Basin</a>, <a href="/news">Croydon South</a> and <a href="/news">Knoxfield</a>. Time on market data on a suburban level is calculated over a longer time period so fluctuates to a lessor degree but still clearly shows the areas where sales are more rapid.
<img class="aligncenter size-full wp-image-3238" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Days-on-market-drops-vic-blog.jpg" alt="Days on market drops in Victoria -- RP Data" width="355" height="251">
Source: RP Data
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Days on market falls to new low: RP Data's Melbourne auction preview

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Over the three months to April 1990, the median selling price of a dwelling (a combination of houses and units) across Sydney was recorded at $152,500. 
As at April 2014, the median selling price of a dwelling was $680,000 which represents a 347% increase in selling price over the 24 year period.  Of course a median price is only measured across properties which actually transacted but it is interesting to look at what the median priced home is over time
The following charts will look at the changes in median price over time and the location of median priced sales.  Note that the each dot represents one sale and the red dots indicate house sales while the blue dots represent unit sales.  The buffers shown on the maps represent a 10 kilometre, 20 kilometre and 50 kilometre distance from the Sydney CBD.
Three months to April 1990
<img class="aligncenter size-large wp-image-3252" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Sydney-1990-580x533.jpg" alt="Sydney 1990" width="580" height="533">
The median price of a Sydney home over the three months to April 1990 was $237,000, across the city there was 12 sales at that price over the period, three of which were units and the remaining nine were houses. 
Apart from one sale at <a href="/news">Sylvania</a>, the reaming 11 sales all occurred within a 20 kilometre radius of the city.  For houses, you will note that four of the nine suburbs are located within a 10 kilometre radius of the city and for units, <a href="/news">Epping</a> was the only suburb with a sale outside of the 10 kilometre region.
Three months to April 1994
<img class="aligncenter size-large wp-image-3253" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Sydney-1994-580x537.jpg" alt="Sydney 1994" width="580" height="537">
Moving to April 1994, there were 34 sales at the median price over the three month period and the median price was recorded at $169,000. 
Comparing this chart to the previous chart you see that the median priced house is beginning to move further away from the city centre with only five of the 24 median priced house sales within 10 kilometres of the city centre and five of those 24 sales were located more than 20 kilometres from the city centre.  For units, three of the 10 sales were outside of a 10 kilometre radius of the city, two of which were more than 20 kilometres away.
Three months to April 1999
<img class="aligncenter size-large wp-image-3254" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Sydney-1999-580x540.jpg" alt="Sydney 1999" width="580" height="540">
By April 1999, the Sydney median house price was recorded at $237,000 and over that three month period there was 28 houses sold at that price and 31 units. 
The big shift over the five year period was the fact that none of the median priced house sales were within a 10 kilometre radius and a greater proportion were located more than 20 kilometres from the city than those within 20 kilometres. 
Within a 10 kilometre radius of the city, units where the only sales at the median price however, units transacting at the median price were becoming more common in areas more than 10 kilometres from the city centre.
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Three months to April 2004
<img class="aligncenter size-large wp-image-3255" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Sydney-2004-580x543.jpg" alt="Sydney 2004" width="580" height="543">
The median Sydney dwelling price over the three months to April 2004 in Sydney was recorded at $440,000.
Over the preceding three months there were 62 house sales and 65 unit sales at that price.
Compared to five years earlier there were a few house sales within 10 kilometres of the city centre however, once again the majority occurred more than 20 kilometres from the city centre.  For units, most sales still occurred close to the city centre however, more and more were transacting at the median price further away from the city centre.
Three months to April 2009
<img class="aligncenter size-large wp-image-3256" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Sydney-2009-580x544.jpg" alt="Sydney 2009" width="580" height="544">
By April 2009, the median dwelling price in Sydney was slightly lower than from five years earlier, recorded at $420,000. Keep in mind that from early 2004 to mid-2009 there was no growth in Sydney home values after they fell by around 10%.  
The map is quite similar to the previous one with 102 houses and 103 units sold at the median price. 
Once again only a few house sales were within a 10 kilometre radius of the city with the vast majority occurring more than 20 kilometres from the CBD.  Unit sales were fairly similar and mostly focused within the 20 kilometre radius of the city.
Three months to April 2014
<img class="aligncenter size-large wp-image-3257" src="https://blog.rpdata.com/wp-content/uploads/2014/05/Sydney-2014-580x550.jpg" alt="Sydney 2014" width="580" height="550">
Over the most recent three month period, the median Sydney dwelling price was recorded at $680,000.  Over the three month period (and note these figures will be revised higher) there was 31 house sales at the median price and 40 unit sales. 
Looking at the above map again we see few house sales within a 20 kilometre radius of the city and the median priced unit is pushing further away from the city centre with more and more sales occurring more than 10 kilometres from the CBD.
The analysis is an interesting exercise in how over time, the ‘typical’ home across the city is moving further and further away from the city centre. 
As a result, it is no wonder we are seeing growing levels of higher density development in the major capital cities.  As the typical housing option moves further away from the city centre, those that need or want to be close to the city centre look for more affordable alternatives such as units. 
As the city continues to grow and density in the inner city increases we would expect a further drift outwards of both the typical house and unit sale in Sydney.
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Sydney housing over time: A case study

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GUEST OBSERVATION
The Australasian real estate industry is as mature as any on the planet. We compete against our peers globally and do it well.
Within the global brand I’m associated with, RE/MAX, with its presence in 95 countries, Australia currently has an impressive 13 of the top 20 international teams.
The Australasian real estate industry and Australasian real estate agent practices stand up very well against other nations, and I’d go so far as to say may often beat many international peers hands down when it comes to skills, characteristics and methodologies such as multiple marketing options including the auction system. It is indicative too that real estate is more widely perceived as a career than in many other countries.
In comparison, for example, with the US and Canada, the Australasian real estate industry is not of the same scale. We don’t come close to the huge numbers of offices and agents involved there… yet! I have no doubt that Australian and New Zealand real estate offices will continue to grow both in numbers of agents and services provided by an office.
On my recent trip to Canada, for example, where RE/MAX has 36% market share, I saw some massive operations. I spent time in one real estate business, Richard Pilarski’s RE/MAX Realtron Realty. He has eight offices in Toronto with in excess of 700 sales associates. One office alone has 300 sales associates.
Will Australia and New Zealand follow down the path of creating real estate operations to that scale?
There are offices with 100-plus agents in Australia already; and while we may not see offices with 300-to-400-agents or greater being commonplace in the short term, there’s every possibility we’ll see 30-to-50–strong sales forces on the rise.
For instance, in Canada and the US, no more than approximately 30 per cent in the real estate industry work from an office, and that is a growing trend here in Australia.
With ever-expanding technology, there is a lot more capacity for people to work remotely; so we can expect that real estate businesses will expand without us necessarily seeing bigger physical premises where sales, property management and financial specialists gather and work. RE/MAX AIRR is one such existing example - where portals and databases are more important, and more widely used, than desks and office car parks.
Michael Davoren is managing director of RE/MAX AUSTRALIA and RE/MAX NEW ZEALAND.
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mdavoren-BoeuVwusdi

Will the Australasian real estate industry blow out in size?

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Maribyrnong is set for the launch of ICG Property’s latest apartment development, Mosaica, that has been designed by Rothelowman.
The apartments will have views of the Maribyrnong River, water, local parklands, Flemington Racecourse and city skyline.
The boutique block will feature 29 apartments with floor-to-ceiling windows, and a balcony or terrace.
<img src="/images/2014/05/22/maribyrnong-may-22-two.jpg" alt="">
Located on Horizon Drive, Mosaica features one-bedroom apartments ranging from 51 to 60 square metres from $395,000. Two-bedroom apartments from 66 to 74 square metres will be priced from $495,000, while a three-bedroom apartment opportunity spans 116 square metres for $795,000.
The bespoke interiors from Rothelowman, have director Kim Lowman noting that they’d aimed for a warm feel that allows purchasers to make their own stamp.
“We wanted individuals to be able to imbue their own character through their artwork and furniture, to set up their own style within the apartment,” Mr Lowman said.
“Externally, Mosaica presents a striking, contemporary façade with robust forms and clean lines.”
ICG Property director Michael Hepburn said that it’s in a dress circle location, opposite Pipemakers Park, and that the views cannot be built out.
<a href="/expert-insights/buying/melbournes-north-western-developments-seeing-strong-sales">In March Property Observer noted</a> the strong sales recorded in several other north-western Melbourne development projects.
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