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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For the uninitiated, an auction can be an overwhelming experience.
There are a lot of auction tactics and tricks floating around – ask one person for their tips and the next will give you the opposite advice. Here are four things to keep an eye out for at an auction that could play to your advantage.
<ol>
<li>
The competition  The auctioneer is the natural ring leader of the show, so it’s tempting to cast your eye towards them. But when at an auction, keep one eye on the other bidders. They’re your competition, so it’s what they do that really counts. 
</li>
<li>
The numbers If you arrive at an auction and there’s only one other couple and the next door neighbours who have turned up for a sticky beak, you might be in luck. Fewer bidders may mean that there’s not much interest in the property which could give you the opportunity to snap it up. A big turn out might signal some tough competition, but it could just point to observational interest in the property, especially in the case of unique or trophy homes. 
</li>
<li>
The “on the market” announcement This one’s a case of ears over eyes. Under quoting by agents means that you might approach an auction underestimating the price that sellers are willing to accept. <a href="/expert-insights/assessing-scott-papes-12-tips-for-auction-bidding-and-listings">Both Jonathan Chancellor and Barefoot Investor Scott Pape agree</a> that the “on the market” announcement is the pivotal moment in any auction. 
</li>
<li>
The “knockout” bid One of the keys to bidding well at auction is recognising your competitors’ tactics. Don’t be intimidated if another bidder suddenly jumps up the price when bidding has been slow. Remember your limit and don’t be afraid to bid conservatively. Olivier Stier of buyers agency OH Property group <a href="/expert-insights/buying/twelve-tips-for-bidding-at-property-auctions">recommends setting your limit well before the auction.</a>  "This price should be set the night before the auction and should be entirely independent of the likely level of competition on auction day or what other buyers may possibly bid," he says. "These are things which you have no control over and should not influence the price you are prepared to pay. "
</li>
</ol>
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jrichardson-uRX5hFdKfN

Four things to look out for at an auction

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Canberra’s units sat at a median price of $412,500 for the quarter to April 30, according to RP Data.
Attracting gross rental yields of 5.1%, the value of units in the capital city dropped 0.1% for the month. The city also <a href="/news/act/howard-government-era-canberra-property-price-falls-tipped-in-abbott-budget-fallout">recorded the weakest growth in dwelling values</a> of any capital city in the three month period. 
Property Observer looks at the city’s recent sales to see what $412,500 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-act-braddon-115933851" target="_blank">1/3 FAWKNER STREET, BRADDON </a>
<h1><img src="/images/2014/05/15/1.jpg" alt=""></h1>
A two bedroom, one bathroom apartment sold in March for $412,500. The ground floor unit in the  On Q complex was designed by Architects Ring &amp; Associates, the Koundouris Group, Dezign Team, Cia Landscapes &amp; Design and Archertec Interiors. On Q is situated among many other low rise apartments and townhouses on the tree lined Fawkner Street. 
Price: $412,500
Bedrooms: two
Drive to CBD: five minutes
<a href="https://www.realestate.com.au/property-apartment-act-braddon-115933851" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-act-barton-115964203" target="_blank">29/41 BLACKALL STREET, BARTON</a> <img src="/images/2014/05/15/2.jpg" alt=""> This one bedroom, third floor apartment is located on the edge of Canberra’s Parliamentary Triangle. It sold for $410,000 earlier this year. Inside, there are granite kitchen bench tops and a balcony that overlooks the complex’s communal gardens. Body corporate fees will set the owners back $4,110 per year. Price: $410,000
Bedrooms: one
Drive to CBD: six minutes
 
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-act-bruce-114830199" target="_blank">125/8 BAUDINETTE CIRCUIT, BRUCE <img src="/images/2014/05/15/3.jpg" alt=""> </a>Vendors got $427,000 for this Bruce apartment. The unit has two bedrooms and three bathrooms on 104 square metres of indoor floor space, which opens up onto a private outdoor dining area. The air conditioned apartment comes with two secure parking spaces and access to a pool. The buyers can expect to pay $852 in land rates this year. Price: $427,000
Bedrooms: Two
Drive to CBD: 12 minutes
 
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-act-watson-115860799" target="_blank">9/25 ASPINALL STREET, WATSON <img src="/images/2014/05/15/4.jpg" alt=""> </a> Sold for $410,000 in February after 86 days on the market, this three bedroom, two bathroom apartment is located in the North Canberra district of Watson. With two outdoor balconies, the unit is surrounded by greenery near the Mount Majura nature reserve. The vendors purchased the home in late 2005 for $290,000.  
Price: $410,000
Bedrooms: Three
Drive to CBD: 11 minutes
</li>
</ol>
<h1> </h1>
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What can you buy for Canberra's median unit price?

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The differential between house and unit values is widening across Australia’s capital cities where houses are now recording greater value growth than units.
 Of the top five areas surveyed in each capital city, Peppermint Grove on the banks of the Swan River in Perth holds the greatest differential between capital city unit and house values; house values are 687% (or almost seven times) more expensive than unit values in the suburb.
Centennial Park in Sydney’s eastern suburbs followed and recorded a 523% differential then came the upmarket suburb of Toorak in Melbourne’s inner city at 283%.
Adelaide was a surprise addition with Toorak Gardens recording a differential of 280%, while Ascot in Brisbane recorded 236%. Forrest in Canberra recorded 242%. Lagging behind was Darwin and Hobart with their respective widest differentials of 156% and 105%.
<img src="/images/2014/05/15/kusher-may-15-two.jpg" alt="">
The data shows that at the end of the first quarter of 2014, combined capital city house values were 28% higher than those for combined capital city unit values while for the past 12 months, house values increased by 10.7% compared to a 9.4% rise in unit values. The faster rate of value growth for houses is likely to result in a growing differential between house and unit values.
Across the individual capital cities, house values are higher than unit values in each city with the differentials recorded at: Sydney (40%), Melbourne (40%), Brisbane (27%), Adelaide (31%), Perth (23%), Hobart (12%), Darwin (34%) and Canberra (46%). In most capitals we are seeing this differential widening.
I’m not surprised at the results given the widening gap between houses and units. It’s no real surprise we are seeing a rapid shift to greater development of units as opposed to houses.
More units have been approved for construction than houses in Sydney, Melbourne, Brisbane, Darwin and Canberra. However, it’s important to remember that more houses sell each year than the more affordable alternative which is units. As values rise, the challenge for some buyers is that they become priced out of the detached house market and will then need to divert the attention to more affordable alternatives found in the unit market. Today’s adjacent table listing the Top 5 suburbs highlights this fact well.
While many people aspire to living in desirable inner city areas, the reality is that there is a short supply of detached houses in these areas coupled with plenty of demand. As a result many will never be able to meet these aspirations. The alternative is to look to the unit market where the cost is still going to be comparatively high but is generally significantly lower than that of a detached house.
Units in these suburbs are often older style units which don’t come with modern architecture. Most of these suburbs are long established suburbs and have a fairly limited supply of units, most of which were built many years ago.
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ckusher-ujnxiKuFQs

House price growth increasingly higher than unit values

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Queensland’s Infinity tower, an 81-storey Meriton creation, has been awarded ‘Best Residential High-Rise Development’ (Australia) at the Asia Pacific Property Awards.
The creation, designed by Brisbane-based DBI Architects, saw 70 judges pointing to the crisp façade of the design, with white vertical blades on one side and horizontal spandrels on the other, to finally win the prize.
In Brisbane city, with views of the Brisbane River, Mount Cootha and Moreton Bay, it has a lap pool, spa, sauna, gym and short-stay accommodation in more than 200 serviced apartments.
It was created to be the tallest tower in Brisbane’s CBD with a total of 549 apartments on 43 Herschel St.
One-bedroom apartments are advertised from $405,000, with one-bedroom and a study from $415,000 and just one remaining three-bedroom apartment, at $918,000. Two-bedroom apartments are all sold out, however they were attractive prices in the mid-$600,000 range.
Rental appraisals put the weekly potential for one-bedroom apartments at $420, and $430 with a study. For two-bedrooms, one-bathroom $530 per week is expected, and for two-bedroom two-bathrooms this shoots up to $580.
The site was originally a ground level car park before being purchased by Meriton in 2009.
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jduke-EHk3XBmHkn

Harry Triguboff’s tallest Brisbane creation wins Best High-Rise award

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Defence Housing Australia (DHA)’s community development in Sydney’s North Shore will launch seventy properties this weekend with its Canopy release.
Upon completion, Crimson Hill will comprise 345 residences across a number of precincts. The development abuts the Lane Cove national park, a feature Colliers International project director Curtis Field says is a point of difference in the North Shore market.
“I think when you look at that Ku-ring-gai, middle North Shore market, it’s typified by high density apartments along the Pacific Highway; right on the main road, and in and around the train stations as well,” says Field.
“There’s been a history of opposition to a lot of these developments by local residents. They’re up against the highway, and visually they tend to be unattractive. We’ve had quite the opposite response to Crimson Hill, where the community is designed to be harmonious with the bushland.”
<img src="/images/2014/04/28/DHA_CH_DG_Interior_Living2_Small.jpg">
According to Field, the local bushland has attracted buyers looking for a lifestyle change.
“We’ve seen purchasers come in who want to downsize and have something brand new, not on the highway, not sitting on the train station, but bordering the bushland,” he says.
“The downsizers are a big component of the market, but we’re also getting a few investors for the one bedroom and two bedroom apartments.
“They can go up back to the highway and buy something, but it’s going to be smaller. These apartments are slightly bigger, with better fixtures. So we’re looking at quality, rather than affordability.”
One bedroom apartments in the Canopy Release are priced from $550,000. Two bedroom apartments start at $650,000 and three bedroom apartments at $860,000. Field says that investors can expect 5% yields from the one and two bedroom apartments.
Upon completion, Crimson Hill residents will have access to a large community centre and a synthetic soccer field, both operated by the Ku-ring-gai council.
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DHA’s Crimson Hill releases seventy new apartments 

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Hi Margaret
My father has owned his 150 acre property since the '60s. He subdivided the land into three 50 acre blocks in the '90s, but he still owned all three blocks. He lives on one block and is intending to pass a vacant block into my name so I can build my home on it. All blocks are used for a farming business, however he has no taxable income. He is registered for GST.
There is no way to avoid the capital gains tax (CGT) when he places it in my name is there? 
Do you know roughly how much he will have to pay? The CGT calculators don't make sense to me. Even if I do not pay for the block, it is worth about $800,000. The three blocks were purchased for $60,000 in the 60s so the one would have been $20,000.
Many thanks,
Alan from WA
Margaret's answer on the next page. Please click below.
<hr class="system-pagebreak">
Hi Alan,
As you father owned the block in the pre CGT days, this block is still a pre-CGT asset. Subdividing the one pre-CGT asset into three does not changed the pre-CGT status and subdividing does not result in capital gain or capital loss. 
Although your father will make a capital gain when he sells (or passes title of) the block to you, the date he acquired the block is considered to be the date that he acquired the original parcel of land, and the cost base of the original land is divided between the subdivided blocks on a reasonable basis. Therefore there is not CGT for your father to pay at all.
More importantly for you is considering how you will receive this block of land, and in what entity.  If you plan to live there then it may become your principal place of residence, and later if you sell there may be CGT consequences from the date you acquired the land in your name. This is because any part of the land over five acres attracts capital gains tax and cannot use the principal place of residence exemption. 
If you are going to conduct a farm then it could be considered business real property, or the part where the farm is conducted could be. It’s worth considering potentially using a self-managed superannuation structure, as business real property can be transferred into super even if it has initially been given to you.
In any event, my advice is for you to seek quality accounting advice before the transfer takes place. This will allow you to ensure that the right structures are in place from the outset.
Kind regards
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

My father subdivided a property he's owned since the '60s, does he have to pay CGT?

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There are 979 auctions scheduled this weekend in Melbourne compared to 738 for the same time last year.
Conditions in the Melbourne auction market continue to be relatively cool. The clearance rate has exceeded 70% only twice so far in 2014 and has been slowly drifting down since that time.
As conditions are shifting in favour of buyers at auction the significant lift in volumes this week will prove to be a challenge for the market.
Conditions in the private sale market remain tight with the latest time on market monthly data  showing a new low for houses. In March the days on market for houses dropped to 35, the lowest on record. Time on market for units reached 37 days highlighting softer conditions in the higher density market as this is higher than the record low of 32 days in May 2010.
Key data
<ul>
<li>Preliminary clearance rate week ending 11 May: 61.9%</li>
<li>Melbourne auctions expected week ending 18 May: 979</li>
<li>Melbourne private sales time on market week ending 11 May: 38 days (houses)</li>
<li>Melbourne vendor discounting market week ending 11 May: -5.5% (houses)</li>
<li>Listings being prepared for market are 2.5% higher in month ending 11 May (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Market continues to cool: RP Data's Melbourne auction preview

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A new residential development on the waterside of Darling Harbour, Radiance, is Loftex’s new creation of 119 one-, two- and three-bedroom apartments behind a gold façade.
Recently appointed to market the apartments on 188 Day Street, CBRE’s residential projects director, Ben Stewart, said that buying into <a href="https://radianceapartments.com.au/" target="_blank">Radiance</a> offers a rare opportunity to own a piece of freehold property.
They were not yet able to release the prices of the apartments.
Some of the properties include bike storage, studies and balconies.
Onsite parking is available for the properties, and each come with SMEG appliances and Caesarstone benchtops.
“This high-end development on the fringe of Australia’s – and indeed one of the world’s – most famous harbours offers a unique combination of livability and convenience,” Stewart said.
“These apartments will offer the very best of inner-city living - spectacular views of the city’s glittering famous harbour, a lively cultural scene, beautiful parks, high-end boutiques and fine dining.”
A luminous gold coloured façade, designed by Tzannes Associates, will be the face of the development.
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Darling Harbour to see 119 apartments added to waterfront

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After highlighting the region late last year, Property Observer revisits the New South Wales city of Albury to see what has changed in the city’s property market.
<a href="/news">Albury</a> is separated from its twin city of <a href="/news">Wodonga</a> by the Murray River. The city has a population of 50,243 people, which is expected to grow to 68,570 by the end of 2031. Albury’s Gross Regional Product was $2,806 billion in 2013, making its Gross Regional Product per worker $131,784 for the year. This result is slightly under the state Gross Regional Product per capita of $159,021.
The region was raised last year as a potential growth area, with <a href="/news/nsw/investors-advised-albury-one-of-five-regional-nsw-markets-at-bottom-of-property-cycle-herron-todd-white">Herron Todd White’s August 2013 report</a> saying that both houses and units in Albury were at the bottom of the property market cycle.   
According to RP Data, the greater Albury area’s median house price was down 1.9% from the year before, with Albury city’s median house price down 7.5% from 2012.
Earlier that year, Observer <a href="/expert-insights/investing/diversity-is-the-key-to-residential-property-investment-success-terry-ryder">Terry Ryder also cited the area in his “hotspotting"</a> reports due to the region’s “diversity and solidity”, writing that the area avoids exposure to the volatility of economic cycles. 
This sentiment was echoed last year by Peter Drummond of Drummond Real Estate, who told Property Observer that the market was “very normal”.
“There are positive things about the market and some people are predicting it as a bit of a boom town – I think it will remain steady and strong,” he said.
Employment is spread over a range of sectors in Albury, with the majority of the city’s 21,293 workers are employed in health care and social assistance industries, followed by retail sector workers.
To further ensure the strength of the region’s economy, the local government has outlined a Digital Economy Strategy, intended to help businesses “transition into a world that is increasingly digitised”. Albury City and Wodonga City committed to a range of initiatives that it predicts will contribute to Albury-Wodonga’s economy by as much as $571 million per year.
Last month, Albury recorded one of the biggest drops in its vacancy rate, according to the Real Estate Institute of New South Wales. The city’s rental market tightened over the month, dropping 0.5% to 1.6% - the same vacancy rate as Sydney’s inner city. It is now even harder to find rental accommodation in the city than six months ago, when the vacancy rate sat at 1.8%.   
According to RP Data, the city’s median house price was $325,000 for March. Units went for a median price of $167,175 in the same month, though February’s median sale price of $355,000 suggests seasonal variation or a month to month difference in the type of stock sold.
<a href="https://www.realestate.com.au/property-house-nsw-east+albury-116926095" target="_blank">This home in East Albury is currently on the market</a> through Sue Moss of Zelle Albury, who is quoting $379,000 for the property. 
 <img src="/images/2014/05/15/albury.jpg" alt="">
The three bedroom, two bathroom brick house with a double garage is set on an 863 square metre block. It includes a formal lounge, a gallery kitchen and a separate dining area. It was last advertised for rent at $385 per week.
Feature photo courtesy of Richard Taylor/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Suburb spotlight: Albury market is "steady and strong"

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Brisbane still seems relatively affordable amongst the capital city rivals, according to valuers, Herron Todd White.
"Everyone out there is waiting for it to really start kicking in – particularly beyond five kilometres from the CBD," their latest report suggested.
"It feels like our turn after the gun market runs of Sydney and Melbourne," it added.
 The outcome falls firmly upon the shoulders of the first home buyers looking for options in south east Queensland.
"They’ve been less present of late compared to the end of last year," the May report noted. 
The first home buyers are likely to secure a typical single level home priced under $500,000 since HTW has detected suburbia is increasingly hip. 
Their advice is in the southern suburbs of Brisbane to look towards the eight to 15 kilometre band.
"For example, Moorooka is getting a name for itself amongst the young and typical 1950s three bedroom, one bathroom dwellings of average condition below $600,000 will find suitors."
<a href="/news">Moorooka's median unit price</a> sits at $377,750 and $507,500 for houses, according to RP Data.
New apartment offerings include <a href="https://www.realestate.com.au/property-unit-qld-moorooka-115792551" target="_blank">Canopy 11</a> (pictured below) due for completion mid 2014 with prices starting at $340,000 with first home buyer able to get the $15,000 grant.
<img src="/images/2014/05/15/marooka%20may%2015%20three.jpg" alt="">
<a href="https://www.realestate.com.au/property-unit-qld-moorooka-116376599" target="_blank">The cheapest unit offering</a> (in the building picture below) is seeking $225,000 plus for a one bedroom.
<img src="/images/2014/05/15/marooka%20may%2015%20one.jpg" alt="">
The cheapest house is $375,000 for a three bedroom fibro and tiled roof cottage on 685 square metres at<a href="https://www.realestate.com.au/property-house-qld-moorooka-116571591" target="_blank"> 374 Beaudesert Road</a> (pictured below).
<img src="/images/2014/05/15/marooka%20may%2015%20two.jpg" alt="">
Mid-ring investors are active in the same pockets as first home buyers, particularly Mount Gravatt where there is quite a bit of proposed development with an increase in infrastructure in coming years.
Entry-level investors are looking closer in, according to HTW.
Investors are active with detached houses up to $600,000 and in inner city units too – particularly interstate and international buyers. 
</div>
</div>
</div>
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Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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