The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

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

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Consumer attitudes towards the housing market took a tumble in the latest Westpac Melbourne Institute Index of Consumer Sentiment.
The index tracking assessments of ‘whether now is a good time to buy a dwelling' fell by 6% to its lowest level since November 2010, when the Reserve Bank had been lifting interest rates.
It is now 25% off its highs of September last year. 
Westpac chief economist Bill Evans says it was unlikely to be solely a response driven by the recent federal budget. 
"Respondents have been lowering their confidence levels for some months. 
"Between September last year and April the Index had already fallen by 20%.
The confidence around housing is particularly fragile in the major states with the index being down by around 30% from September’s highs in both NSW and Victoria. 
"Concerns over high prices and limited affordability are likely to be the key reasons behind these trend," the report said.
The overall Westpac Australian consumer sentiment fell sharply in May, posting its lowest level since August 2011 following the government's budget.
The survey of 1,200 people showed the pessimists exceed optimists.
</div>
</div>
</div>
</div></body></html>

jchancellor-FAypfDUnLy

Now is not a good time to buy a Sydney or Melbourne home: Westpac confidence index

<html><body>
After looking at the New South Wales border town of Albury last week, Property Observer turns the spotlight to its twin city, Wodonga.
Last year, Observer Terry Ryder <a href="/expert-insights/investing/diversity-is-the-key-to-residential-property-investment-success-terry-ryder">named Albury-Wodonga one of his hotspots</a>, thanks to its diverse economy and location.
“The city's location of the Hume Highway (and the main rail line) between Melbourne and Sydney, with good links also to Canberra, makes it strategically important,” he wrote. “Many transport and logistics businesses are based there.” 
According to the local government, Wodonga has a residential base of 36,629 people. The city recently made headlines after it was revealed to be the fastest growing major regional city in Victoria. Figures from the Australian Bureau of Statistics showed that Wodonga’s population grew by 2.1% in the year to June 2013. Wodonga council’s chief executive, Patience Harrington, told the ABC that the population boost largely came from a growing birth rate.
"We're seeing a lot more young children and young families in our city and certainly those older people in our population are also being sustained," Harrington said.
The city’s population is expected to exceed 50,000 by 2026 – roughly the size of New South Wales’ Wagga Wagga. Together with its twin city Albury, the area had a total population of 82,083 as of 2011.
Wodonga's major employers
<ul>
<li>Manufacturing: 16.5%</li>
<li>Health care and social assistance: 14.1%</li>
<li>Public administration and safety: 13.6%</li>
<li>Retail trade: 11.3%</li>
<li>Education &amp; training: 9.2%</li>
</ul>
Source: REMPLAN 2013
To cope with its growing population, a number of infrastructure investments have been made by the local and state governments. Last year, the Victorian government allocated $250,000 to <a href="/news/vic/victorian-government-injects-250-000-into-wodonga-growth-area-planning">assist the city’s plan for the Leneva-Baranduda growth corridor</a>. 
The government stimulus to link the urban areas of Wodonga to Baranduda via Leneva, south of the city, is intended to build houses for an additional 35,000 people, with 14,000 new homes. The infrastructure project is also projected to create 6,000 jobs in the area.
At its announcement, Victorian Planning Minister Matthew Guy said the growth corridor would “assist in supporting the commercial development of Wodonga’s CBD, where there is already a major urban renewal project underway”.
The city’s urban renewal projects include a $4.3 million road realignment project. The new saleyard at North Barnawartha, which are due to set the city back $25 million, is another major infrastructure project. The saleyard is set to be completed in December.
The city’s investment in infrastructure has not been without consequences for the area’s budget. The 567 hectare Logic industrial hub in Barnawartha North on the Hume highway has been a big spending point for the city. According to The Border Mail, the site was a major contributing factor to skyrocketing debt for the city. The city of Wodonga’s debt level jumped from less than $10 million in 2000-1 to nearly $33 million in 2006-07.
The city now has almost $31 million in debt, the second highest level of debt of any of the state’s regional centres. The Victorian auditor-general’s office has reportedly deemed the city at medium risk of longer-term financial sustainability since 2007-08.
To pay down debt, the local government has been attempting to sell its assets, including an old police station, park land and industrial land. Land at the Logic industrial site is currently being offered on a lot-by-lot basis.
The total value of construction in Wodonga in the 2012-13 financial year exceeded $145 million, according to local government figures. Manufacturing remains the largest employer in Wodonga, with 16.5% of the workforce devoted to manufacturing, followed by 14.1% in health care and social assistance. For 2008-09, the average annual wage in the city was $40,275, with a labour force of 19,615.
The number of occupied residences in 2012 was 14,480, out of a total 16,786 rateable residential properties.
The median house price for the greater Wodonga area was $215,000 for April this year, according to RP Data. <a href="https://www.realestate.com.au/property-house-vic-wodonga-115851535" target="_blank">This three bedroom, one bedroom house</a> sold in April for $225,000.
<img src="/images/2014/05/22/wodonga.jpg" alt="">
The home in central <a href="/news">Wodonga</a> was previously let at $285 per week. It has polished floorboards throughout and sits on about 575 square metres of land. The owners bought the home for $127,500 in 2003.
Other articles in our suburb spotlight series:
<a href="/expert-insights/buying/suburb-spotlight-albury-market-is-steady-and-strong">Suburb spotlight: Albury market is "steady and strong"</a>
<a href="/expert-insights/buying/suburb-spotlight-melton-council-gearing-up-for-growth">Suburb spotlight: Melton council gearing up for growth</a>
<a href="/expert-insights/buying/suburb-spotlight-joondalup-adjusting-to-moderating-market">Suburb spotlight: Joondalup adjusting to moderating market</a>
Photo courtesy of Wikimedia/Creative Commons. 
</body></html>

jrichardson-uRX5hFdKfN

Suburb spotlight: Will Wodonga's big spend pay off?

<html><body>
The Turramurra property Linwood, designed in 1929 by architect Hugh Venables Vernon, has been sold.
It sold pre-auction for an undisclosed price having had $2.5 million hopes through Belle Property Pymble's Lesley Bassam.
<a href="https://www.belleproperty.com/selling/NSW/North-Shore-~-Upper/Turramurra/House/17P2914-23-womerah-street-turramurra-nsw-2074" target="_blank">The 1,739 square metre property Womerah Street property</a> last traded in 1996 for $910,000 when it was bought by Lissa and Nicholas Swan, the former director of Peppers Hotel Group and now company secretary of mining services company AJ Lucas Group.
It was renovated in 2012 enhancing its original features that include rich mahogany and cedar timber features, with polished floorboards and original fireplaces.
The grounds come with a pool and gazebo amid landscaped gardens with century-old trees. 
</body></html>

Linwood, the Hugh Venables Vernon Turramurra house sells

<html><body>
As many readers know, Brisbane City is well into a residential recovery.
<img src="/images/2014/05/22/matusik%20may%2022%20one.jpg" alt=""> 
This recovery started late last year.  It followed a long stagnation period, which was needed, as the market had overheated during the 2001 to 2008 upturn.
Brisbane values appreciated something in the order of 230% over that seven year period.
Where to next?
This time around, values are expected to lift, but mildly in comparison.
Potentially, house values could rise by another 11% and attached property values – especially in Brisbane’s middle-ring suburbs – by as much as 19%.  This takes into account the current low interest rate setting.
The meaning of recovery
Yet this recovery is more about being able to sell your property, rather than how much will it appreciate.  Our borrowing capacity analysis suggest that once interest rates normalise (increase) in coming years, dwelling appreciation across Brisbane will slowdown and even potentially see price falls if home loan rates rise to over 7%.
Like many areas across the country, Brisbane’s current recovery and pending upturn is likely to be short in duration this cycle, with the market peaking in late 2015/early 2016, depending on interest rate movements; employment trends and dwelling supply.
Future housing demand 
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.
c 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).
Prices and rental growth
Prices for second-hand stock could fall post 2016; and/or many looking to downsize will choose (reluctantly) to not sell and continue to age in place. More affordable infill stock would alleviate this potential market segment mismatch.
 <img src="/images/2014/05/22/matusik%20may%2022%20two.jpg" alt="">
Whilst remaining a large demographic group, with a 24% market share, the young rental market (tenants mostly of inner city apartments) is expected to contract in coming years.
This comes at a time when record numbers of new apartments are being built across Brisbane’s inner city.
Prices and rental growth for new apartments are likely to be subdued until the excess new supply is absorbed.  This may take several years and is likely to take place between 2016 and 2018.  The second-hand apartment market is likely to be hit the hardest, especially when it comes to rents.
Property DNA
Many of the market fundamentals – the city’s property DNA so to speak – look quite healthy over the next decade.  These include population growth; job creation; household incomes; relative affordability; renovation activity and infrastructure delivery. 
Matusik Property Pulse™ 
It may be best, if viewing Brisbane for residential investment, to buy something that would suit an aging demographic.  Something attached maybe, rather than a traditional detached home.
Also, given the aging demographic profile, our Property Pulse™ reading suggests that Brisbane’s net housing demand is close to peaking and will settle back (at a high level) in coming years.  This means subdued, not accelerating, price growth.
 <img src="/images/2014/05/22/matusik%20may%2022%20threwe.jpg" alt="">
The Matusik Property Pulse™ measures the size and direction of the largest (in terms of money spent) home buyer segment in the Australian real estate market, being the 40 to 44 year age group. There is a very strong correlation between the size and direction of this market segment and property sales; price and rental growth.
Final word 
Increasingly, Brisbane should attract high rents.  Rental returns are likely to be the major driver behind Brisbane residential investments in the coming decade.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
</body></html>

michaelmatusik-49YzLvdmNv

The Brisbane market recovery: Where to next?

<html><body>
With the news that the Abbott government has <a href="/expert-insights/investing/first-home-saver-accounts-scrapped-what-now">scrapped the First Home Saver Accounts scheme</a> in its first federal budget, many account holders have been left confused about what will happen to their money.
Under the scheme, the government made a co-contribution of up to $1,020 on the first $6000 savers deposited each year. Account holders were also entitled to tax concessions but had restrictions on when they could access their money, which was only to be used for a payment on their first home. Before the budget changes, if savers wanted to withdraw the money in their First Home Saver Account, they had to meet a number of requirements.
Firstly, they had to contribute at least $1,000 a year to the account for at least four (non-consecutive) years, and they had to hold the account for at least four years. Even then, the money could only be withdrawn to pay for a home, unless you wanted to wait until you were 60 years old to access the money directly.
While the proposed budget changes have not been passed by Parliament, it doesn’t look likely that the Opposition will attempt to save the scheme.
If you hold a First Home Saver Account or were thinking of opening one, here’s what you need to know.
<ol>
<li>Accounts opened after 7:30pm on Tuesday 13 May will not be entitled to the government co-contribution or tax concessions. 
</li>
<li>Government co-contributions will now only be earned on deposits made until 1 July 2014. You will still receive your maximum co-contribution of $1,020 if you deposit $6000 for the 2013-14 year, but any deposits made after 1 July this year will not receive a co-contribution. 
</li>
<li>No more tax and social security concessions after 1 July 2015. For the 2013-14 and 2014-15 years any interest you earn on your accounts will be taxed at 15%, but after that, you will be taxed at the usual rate for your earnings. 
</li>
<li>Restrictions on withdrawals will be removed after 1 July 2015. First home savers accounts will be totally abolished on 1 July 2015. Treasurer Joe Hockey said, "As of 1 July 2015, account holders will be able to withdraw their account balances without restriction. Once the First Home Saver Accounts scheme is abolished from 1 July 2015, these accounts will be treated like any other account held with a relevant provider." This seems to mean that as of 1 July 2015, you can use the money in your First Home Saver Account for any purpose you like.
</li>
</ol>
To get more clarity on the status of your First Home Saver Account, contact your bank. 
</body></html>

Four things you must know about the axed First Home Saver Accounts

<html><body><div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Australia sits firmly in the property overvalued basket, according to the latest Knight Frank international residential property report.
Not as overpriced as Norway and Canada.
<div class="layoutArea">
<div class="column">
<a href="/images/2014/05/21/kf-may-21-one.gif" target="_blank"><img src="/images/2014/05/21/kf-may-21-one.gif" alt=""></a>
</div>
</div>
<a href="https://my.knightfrank.com/research-reports/global-opportunites-report.aspx" target="_blank">The Knight Frank Global Opportunities report</a> compared mainstream housing markets across 27 countries, assessing how prices are performing in relation to rents and incomes.
Australian homes ranked fifth among the world's most ''overvalued'' housing markets.
Knight Frank suggest a property market was correctly valued when local incomes are enough to buy or rent an average property.
The axis at 0 represents a position where a market is valued in line with its long-term average. 
A column above the line shows there is an imbalance with house prices surging ahead of rents or incomes.
A column close to the line suggests the market is balanced, and displaying a sustainable level of growth.
<div title="Page 3">
<div>
<div>
<div>
A column below the line signals the market is undervalued with rental and/or income growth outpacing house prices.
At present, 15 of the 27 countries Knight Frank tracked are above their long-term average both in terms of price-to-rent as well as price-to-income ratios, the Knight Frank international residential researcher Kate Everett-Allen said.
"Interestingly, if the same exercise had been carried out at the height of the financial crisis in 2008 more than 20 countries would have been in this bracket," she noted.
Those markets in which prices and rents look to be balanced include the United States, Italy, Austria, Iceland and Luxembourg.
Countries such as Greece, Spain, and Portugal where prices are still falling are likely to end up on the right of the chart as the gaps between the respective indicators narrow.
Germany and Japan, having missed out on the double-digit price growth observed in many developed economies in the early 2000’s remain firmly in the ‘undervalued’ camp.
Belgium, Norway and Canada, where prices are still rising, represent those countries most at risk of a price correction, particularly if mortgage rates increase or incomes start 
</div>
</div>
</div>
</div>
</div>
</div>
<div>
<div>
"With the global economy displaying green shoots, buyers – both in mainstream housing markets and second home hotspots – are looking closely at which markets offer real value," the Knight Frank international residential researcher Kate Everett-Allen said.
</div>
</div>
<div>
<div>
“The upturn in the global economy, albeit gradual, has meant for some home ownership, or even the acquisition of a second home, is back on the agenda again for the first time since 2008.”
</div>
<div>
Already in 2014 there has been a steady stream of positive indicators for global housing markets, she noted.
Lending criteria is being relaxed, interest rates in Europe, the US and the UK look set to remain at historical lows at least until 2015, employment is picking up and buyer confidence is strengthening.
"This upturn in the global economy, albeit gradual, has meant for some home ownership, or even the acquisition of a second home, is back on the agenda again for the first time since 2008 across Europe and the Caribbean. 
"From currency fluctuations to purchase costs, from tax hikes to oversupplied markets; we look at the potential risks (upside and downside) that deserve close consideration," she added. 
</div>
</div>
</div>
</div></body></html>

Australian residential housing overpriced: Knight Frank

<html><body>
Hindmarsh’s $41 million 18-level  residential tower is undergoing construction, with a crane currently visible on the Sydney CBD site.
The development, <a href="https://aspiresydney.com.au/index.php" target="_blank">Aspire</a>, is in the southern part of the CBD, near Hyde Park, and is being built by Hindmarsh Construction. It is almost 100% sold.
Hindmarsh NSW state manager development, Steve Laffey, said that it is an important addition to their Sydney portfolio.
“The project has been successful in appealing to buyers at a time when demand for quality apartments in the CBD remains robust,” said Laffey. 
Including 48 apartments, it will include a podium level to Alberta Street. The two- and three-bedroom apartments, of which the majority are north-facing, have been selling from $840,000. They come with secure parking.
It is set for completion in December 2014.
</body></html>

jduke-EHk3XBmHkn

Construction progressing on $41 million Sydney CBD Aspire

<html><body>
Housing affordability for first home buyers is a perpetually hot topic. Is there a problem with housing supply, or home buyer expectations? Has investor activity ruined the game for young buyers, or does Gen Y just need to learn how to save? 
While a lot of property commentators have something to say about the first home buyers issue, most bought their first home years ago. So Property Observer took the question to the experts: What would you purchase on a first home buyer’s budget?
To get an idea of what a typical first home buyer would have to work with, we took the Australian Bureau of Statistics’ average first home buyer loan size for March and added a 10% deposit. We arrived at the following budgets for our observers:
New South Wales: $352,880
Victoria: $325,710
Queensland: $317,680
South Australia: $275,440
Western Australia: $364,980
Tasmania: $233,420
Northern Territory: $377,200
Australian Capital Territory: $329,560 
Using the above price guides, four of our Observers have suggested properties on the market that they would purchase if they were first home buyers.
Read on to see what Hotspotting.com.au’s Terry Ryder, the Real Estate Institute of Western Australia’s David Airey, Allen Wargent’s Pete Wargent and iProperty Plan’s Mark Armstrong picked.
<hr class="system-pagebreak">
TERRY RYDER, FOUNDER OF HOTSPOTTING.COM.AU<img src="/images/authors/fullbody/Terry-Ryder.png" alt="" style="float: right;">
Terry Ryder says he would go for <a href="https://www.realestate.com.au/property-house-qld-edens+landing-116999987" target="_blank">this three bedroom home</a> (pictured below) at 16 Sandra-Ann Drive in <a href="/news">Edens Landing</a>, Queensland.
Listed at $329,000, it’s priced just a touch over our estimated average spend for a first home in Queensland of $317,000.
<img src="/images/2014/05/21/edens-landing-may-21-breakotu.jpg" alt="">
Ryder provided the following reasons for his pick:
<ul>
<li>Location in growth corridor between Brisbane and the Gold Coast.</li>
<li>Walk to train station, with links to Brisbane CBD and to the Gold Coast.</li>
<li>Easy access to Pacific Motorway and Logan Motorway.</li>
<li>Quiet, private residential area with solid standard of brick-and-tile housing.</li>
<li>Lots of choices of schools in the area.</li>
<li>Close to Beenleigh town centre.</li>
<li>Close to retail, including a new Bunnings and a new Woolworths.</li>
<li>Plenty of parkland and recreational choices in the area.</li>
<li>Area has a solid capital growth record, with strong rents and low vacancies.</li>
<li>House itself is low-maintenance with an entertainment area at the back (assuming we can trust the agents' blurb).</li>
</ul>
<img src="/images/authors/fullbody/Mark-Armstrong.png" alt="" style="float: right;">MARK ARMSTRONG, DIRECTOR OF iPROPERTY PLAN 
For a Victorian property, iProperty Plan director Mark Armstrong picked a <a href="https://www.realestate.com.au/property-apartment-vic-thornbury-116867983" target="_blank">top floor apartment</a> in Melbourne’s <a href="/news">Thornbury</a>, pictured below.
The one bedroom, one bathroom apartment tucked away from Kemp Street has a private balcony and a secure parking.
<img src="/images/2014/05/21/2.jpg" alt="">
Armstrong says that the picked the property “because first home buyers need to think like first home investors and look for property that will have strong capital growth potential."
“This property is within 10 kilometres of Melbourne and is walking distance to shops, transport, bars/cafes and parkland. The property is elevated and has plenty of natural light and privacy and would provide comfortable accommodation.”
Another one bedroom, one bathroom apartment in Thornbury <a href="https://www.realestate.com.au/property-apartment-vic-thornbury-116240195" target="_blank">sold last month for $310,000</a> (pictured below). 
<img src="/images/2014/05/21/3.jpg" alt="">
Read on for more first home buyer picks from our Observers on the next page.
<hr class="system-pagebreak">
<img src="/images/authors/fullbody/David-Airey%2023.png" alt="" style="float: right;"> DAVID AIREY, PRESIDENT OF THE REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA
Working with a budget of $364,980, Airey chose a <a href="https://www.realestateview.com.au/Real-Estate/15-moat-street-mandurah/Property-Details-buy-residential-7120661" target="_blank">three bedroom, one bathroom home in Perth’s Mandurah</a>, pictured below.
<img src="/images/2014/05/21/4.jpg" alt="">
“This property offers excellent value and lifestyle for a first time buyer,” says Airey.
“Although <a href="/news">Mandurah</a> is 80 kilometres from the Perth CBD, it has good freeway access and a fast commutable train service. Situated right in the heart of this seaside village, this property is just a short walk to the marina, shops, pubs, restaurant and cafe strip.
“At more than 800square metres, the block is perfect for raising a young family, growing some veggies or having a dog. It also offers good long-term capital growth. Although zoned as R20, there is plenty of space to add extra rooms in future or create an alfresco area out the back for entertaining.
“Mandurah is a city of 77,000 people and serviced with good schools, recreation and medical facilities. And all of this comes with a country lifestyle, a huge estuary for fishing and crabbing and cool ocean breezes in summer. A similar property on Perth’s northern beaches would be twice the price.
“The average annual growth rate in Mandurah over the last five years has been 0.0 per cent, as it struggled to recover from the market slump and GFC in 2008. However, REIWA data show that it achieved 3.4% growth in the year to December 2013, while more recent REIWA data indicates 7% growth for the March quarter this year. With recovery on the way, it’s a good time buy.”
<img src="/images/authors/fullbody/Pete-Wargent.png" alt="" style="float: right;">PETE WARGENT, DIRECTOR OF ALLENWARGENT
Pete Wargent recommended two <a href="/news">Blacktown</a> properties, to first home buyers, noting that the average first timer budget in Sydney is a little higher than the New South Wales average of $352,880.
<a href="https://www.realestateview.com.au/Real-Estate/blacktown/Property-Details-buy-residential-7073129" target="_blank">This two bedroom single level villa</a>, pictured below, is priced from $350,000.
<img src="/images/2014/05/21/5.jpg" alt="">
Blacktown is located 36 minutes by train from the city. “If the budget is tight,” says Wargent, “drop down a notch.” He suggests this single storey home at <a href="https://www.realestateview.com.au/Real-Estate/43a-177a-reservoir-road-blacktown/Property-Details-buy-residential-6933231" target="_blank">43A/177A Reservoir Road as a cheaper alternative</a> (pictured below).
<img src="/images/2014/05/21/6.jpg" alt="">
“For $300,000 or under, look for a modern two bedroom unit,” he says. For those who are after something within 20 minutes of the CBD, Wargent would pick a property close to <a href="/news">Campsie</a> train station, “with low strata fees on a quiet, pleasant, leafy street.”
“Entry prices in Campsie range from $230,000 for a quality studio apartment up to $380,000 plus for a two-bedder,” says Wargent.
“A short train ride to the city, Campsie has a buzzing central strip, is gentrifying apace and within a few years will be the new Marrickville.
“People scoff when you make such assertions but that’s a recurring theme in real estate. They said that the suburbs in London’s east end would never gentrify.
“Even half a decade ago people told me when I’d bought in in the inner west in <a href="/news">Erskineville</a> - three kilometres from Sydney CBD - the suburb would be a “ghetto”, and years before that when I bought in <a href="/news">Pyrmont</a>, which is adjacent to the city, that suburb would be a “future slum”.
"Wrong, and I believe they’ll be wrong again about Campsie.”
Our Observers came up with stand alone houses, apartments, and semi-detached homes as close as seven kilometres and up to 72 kilometres away from the capital city centres for their first home buyer picks. What would you buy on a first home buyer's budget?
</body></html>

Exclusive: First home buyer picks from the experts

<html><body>
The Melbourne Cricket Club Foundation has listed two Jolimont heritage homes for 31 May auction.
They have been listed with a $6 million combined expectation.
Bromo, at 28 Jolimont Terrace was built in 1865 for John Bruce, father of former prime minister Stanley Melbourne Bruce, according to the East Melbourne Historical Society, before their move to St Kilda.
It is expected to fetch mid-$2 million.
The two-storey, six-bedroom residence, at 26 Jolimont Terrace with bluestone cellar, has mid-$3 million expectations.
</body></html>

Melbourne Cricket Club Foundation lists two East Melbourne terrace houses

<html><body>
Mirka, a six-floor apartment block at St Kilda due for completion next year, will take its name from the octogenarian artist, Mirka Mora.
Some 25 of the 56 apartments have sold with prices ranging from $375,000 for one bedrooms to $695,000 for two bedroom two bathroom apartments.
<a href="https://www.mirkaapartments.com.au/enter.php" target="_blank">The Inkerman street block</a> has been designed by architect Ivan Turcinov, of Carabott Holt Turcinov. It will replace the 1970s three storey Barkly House office block.
There will be a mix of timber, glass, metal, concrete and bluestone. 
Mirka currently has major exhibitions of her works at the Heide Museum of Modern Art in Melbourne and Manning Clark House in Canberra.
There's already been a street named in her honour and a restaurant.
Mirka Mora was born in Paris in 1928 making Melbourne her home in 1951. Mirka Cafe in Exhibition Street opened in 1954, with one of the city's first Gaggia espresso machines and defying then council by-laws by putting tables and chairs on the sidewalk and pushed for the right to serve wine.
In 1964, French emigres Georges and Mirka Mora opened Tolarno in St Kilda, which became a haunt of writers, painters, politicians, sports stars and the fiercely loyal St Kilda community.
"Giving entry to the property market, becoming part of a portfolio for a seasoned investor or providing a unique home to a couple or family, these St Kilda, Melbourne apartments won't last for long," Look Property Group selling agents Paul Raimondo and Michael Robinson suggest. 
Mirka Mora appears in the <a href="https://www.youtube.com/watch?v=vUbx6GxOhrM" target="_blank">Happy craze youtube video</a>where locals dance through their village, parks and beaches, Fitzroy and Acland Streets in a clip to the Pharrell Williams tune directed by Aaron Wilson and produced by Serge Thomann.
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News