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>
Just one penthouse remains available at the fifth apartment development in Hamilton North’s Portside Wharf development.
The four buyers of the three bedroom Pinnacle penthouses are all Queenslanders. One already lives in an apartment at Portside Wharf and is upgrading to a new penthouse. Two purchasers are downsizers, set to move into the new development from larger homes. All the penthouse buyers are aged over 55.
Each penthouse also includes four bathrooms, two separate living areas, two balconies, with two side-by-side secure car parks.
Sizes range from 207 square metres to 241 square metres. The largest penthouse has not yet been purchased.
The four penthouse purchases have brought in more than $4 million for the building, which has made a total of about $60 million in off the plan sales.
<img src="/images/2014/05/01/pinnacle_0002_Pinnacle%20penthouse%20bedroom%201mb.jpg.jpg" alt="" style="line-height: 1.3em;">
With an absolute riverfront position,  Pinnacle at Portside Wharf development comprises 162 one, two and three bedroom apartments, penthouses and river terraces over 16 storeys. The development is expected to reach completion in early 2015.
According to Brookfield Residential Properties regional dictor Lee Butterworth, the sales figures indicate a renewed interest in the luxury apartment market.
"The penthouse sales suggest the market has turned a corner and high end purchasers are out to secure luxury property in a prime location," said Butterworth.
"There has already been strong interest in the one remaining penthouse and with limited, absolute waterfront stock available in Brisbane, we don't expect it will last long.”
The mixed use Portside Wharf development is located six kilometres from the Brisbane CBD. Butterworth said that the provision of local retailers and restaurants within the development was a major factor in demand for the residences.
"Opportunities to live atop a lively precinct such as Portside Wharf are extremely rare and buyers see the enormous value in being able to purchase an apartment where the lifestyle and amenity come complimentary,” he said.
Portside Wharf is part of the Northshore Hamilton urban renewal project that is set to house more than 10,000 residents.
<img src="/images/2014/05/01/pinnacle_0003.jpg" alt="">
</body></html>

jrichardson-uRX5hFdKfN

Queensland’s luxury apartment buyers return to market with four penthouses sold at Pinnacle at Portside Wharf

<html><body>
The $250 million Green Square apartment complex in Melbourne’s Abbotsford has been completed.
Offering 500 apartments, the Salta Properties project was unveiled yesterday after a tour by Victorian Planning Minister Matthew Guy.
Constructed by Icon Construction, the project engaged around 400 workers in peak construction periods. Green Square is a four tower apartment complex built around an outdoor entertainment area, set behind the Terminus Hotel on Victoria Street. The project includes a library, an indoor/outdoor swimming pool, gym and rooftop barbecue.
Apartments in the complex are still available, starting from $415,000.
According to Salta Properties managing director Sam Tarascio, the completion of Green Square three months ahead of schedule was spurred by demand in the area.
“Green Square epitomises a new era of apartment living in Melbourne and it has been a popular choice for astute investors and owner occupiers. This has enabled Salta Properties’ to fast track the off the plan development,” said Tarscio.
“Salta Properties is now working to commence the next stage of development at Victoria Gardens Precinct, to accommodate Melbourne’s growing population and business community as well as provide industry jobs to hundreds of workers over the next few years.”
</body></html>

Victoria Gardens Green Square apartment development completed

<html><body>
The proposal to ban auction price guides in Queensland, which has in part been described as a decision to help stamp out the problem of underquoting, has been slammed by the Real Estate Buyers Agents Association of Australia (REBAA) who claim that not only will this action not stop the problem, but it could also deter buyers from bidding at auction.
REBAA spokesperson Scott McGeever said that the auction process is skewed in favour of real estate agents and the vendors, and changing this law will not change the status quo.
The Queensland laws, which are expected to be passed within coming weeks, has left McGeever questioning the decisions.
“The Queensland government has had the opportunity to make a real change in favour of home buyers but instead buyers will remain in the dark and coercion will be rife,” he said.
“The allowance of web-based price guides does nothing to provide clarity for would-be buyers, many of whom are already spending thousands of dollars on building and pest inspections for properties which aren’t really within their range.”
He noted that internet price guides are just a small component of the auction process, with this proposed solution to leave buyers vulnerable to selling agents who will use this to their advantage.
“Some real estate data sites allow owners, or those who own in the local area, to change price estimates for properties listed online, allowing for manipulation to occur,” he said.
“Buyers are often already uncertain about auction environments and with either less or manipulated information at hand this could reduce their bidding confidence even further.”
REBAA is the latest body to voice their opposition to the changes, joining the ranks of the REINSW, <a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">John McGrath</a> and a <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">number of news organisations</a>, however there are still <a href="/news/queensland-price-guide-ban-garners-support-with-claims-debate-is-blown-out-of-proportion">a number of those supporting the proposed changes</a>.
Another solution to the underquoting may be to publish the reserve prices prior to the auction. An <a href="/news/nsw/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate">online petition for this change in New South Wales is circulating, launched by buyer’s agent Patrick Bright</a>, and has seen vocal support from SQM Research’s Louis Christopher. Meanwhile, observer Terry Ryder, based in Queensland, has also been vocal on the issue of the Queensland price guide ban, <a href="/expert-insights/buying/dont-like-the-auction-price-guidance-ban-you-can-only-blame-yourself">telling those who dislike the ban that they can only blame themselves</a>.
</body></html>

jduke-EHk3XBmHkn

"Coercion will be rife" under new Queensland price guide laws: REBAA

<html><body>
More than 80 local tradies and building suppliers, directed by Shoalhaven’s G.J. Gardner Homes, have got together to build a house in Bomaderry, which will be auctioned to raise money for Variety, the children’s charity.
The first open house will be this Saturday from 10am to 2pm, at 9 Banool Circuit, Bomaderry, New South Wales. It will also be open for inspection on 10 and 17 May.
It will go for auction on Saturday 24th May.
The four-bedroom house has an open plan style with mountain views. The master bedroom has an ensuite and built-in robes, and the house includes ducted air conditioning, an integrated sound system, undercover decked alfresco area and a 5.5 star energy rating.
The block of land was given to Variety at a significant discount by the McDonald Family, with construction on the house beginning on 1 November 2013.
Integrity Real Estate are taking the property to auction. The proceeds will go to Variety’s Freedom program, which specifically looks to help children in need with their mobility and communication.
G. J. Gardner Homes Shoalhaven director Nathan Fay said that it is conveniently located near Nowra town centre, and is an opportunity for a family to experience country living.
“It is located in the elite Meroo Views Estate and has stunning panoramic views across beautiful rural surrounds,” said Fay.
Peter Hebbes, chairman for Variety, said that it has been a heartwarming experience.
“The proceeds of this auction will make a huge difference to the lives of many children in need,” Hebbes said.
Suppliers that got behind the project included: Smeg, James Hardie, Phil Jones Insulation Specialist, Humes Doors, Daikin, Gainsborough, HPM, JB Air Conditioning, Rheem, B&amp;D garage doors, Kiteleys, GJ NSW, GJ Corporate, South Coast Drafting, Efficiency Assessments, Bradnams Windows, Taubmans, Harvey Norman Commercial, Smart Film Termite Protection, Leslie &amp; Thompson Surveyors and Smith &amp; Sons.
For those elsewhere in New South Wales, G. J. Gardner Homes is looking to turn this into a state-wide program and to enlist one of their franchisees in NSW or ACT per year to repeat the process to help build Variety donations. Next year, a Tamworth office will take on the project.
The hopes are for over $1 million to be raised for Variety.
</body></html>

Bomaderry house auction to raise money for children’s charity Variety

<html><body>
Hemingway Residences in Melbourne’s Alphington have sold in four weeks, after launching 55 two- and three-bedroom townhouses to the market, totaling $47.5 million sales.
The project, developed by GURNER in conjunction with Chamerlain Javens Architects, was a transformation of a 9,160 square metre site on the corner of Heidelberg Road and Perry Street, or the former Jika International Hotel site. It is five kilometres from the CBD.
GURNER founder, Tim Gurner, said that the fast sale for <a href="https://hemingwayresidences.com.au/" target="_blank">Hemingway Residences</a> demonstrates confidence and is a good sign for the market.
“Sales momentum has been really strong since the project launched at the start of April,” said Gurner.
Properties had an average sale price of $880,000, and ranged from $795,000 to over $1 million. Those over $1 million included three-bedroom, three-bathroom homes that included car garages. Separate laundries and under-stair storage were also on offer. “When we first priced the project it was challenging, as the quality of Hemingway Residences is not often found in an inner-city project.  Now after selling out the project in only four weeks, our clients and buyers can feel confident that they secured great value for money in a prized location,” he said.
It was not marketed internationally, selling primarily to local downsizers and younger second home buyers moving out of apartments, plus a “handful of investors”.
Construction will commence in one week, due for completion mid next year.
Offered optional features included instant boiling water taps, gas log fires and marble benchtops.
Named after, yes, Ernest Hemingway there is an emphasis on gardens and outdoor space. However, according to council records, the townhouse style development wasn’t the only possibility for the site – noting that a high rise apartment development could also have been contemplated.
</body></html>

Four week sell out for Alphington, Melbourne's Hemingway Residences

<html><body>
The 23rd largest publicly-listed company in China, Fuxing Huiyu Real Estate Co Ltd, has established Starryland Australia, which will pour $550 million into a new apartment development in Parramatta across 11 towers.
The five hectare development, named <a href="https://%20www.promenadeliving.com.au" target="_blank">Promenade,</a> will have 774 apartments in the 11 towers that will be from three to 12 storeys on Parramatta River’s northern banks, as well as 1.2 hectares of open space and a pedestrian bridge across the river.
It is located at 2 Morton Street and was previously owned by Frasers Property who received the green light for the project last year from the NSW Joint Regional Planning Panel.
Frasers confirmed to Property Observer that the site was sold last year, with RP Data records showing that it transacted in September 2013 for $58,000,000. The site had been rezoned in 2011 for residential, mixed-use, public open-space and waterway under the Parramatta Local Environment Plan. They had initially planned for 10 towers from two to 12 storeys.
Prior to Frasers' ownership, the site was held by The Uniting Church in Australia Property Trust before their June 2006 $21,500,000 sale.
The first stage will be two of the towers, to a total of 277 apartments, with work expected to start in late-June with a construction timeline of two years. Demand will determine the other two release stages.
This first stage includes one-bedroom apartments from 44 to 62 square metres from $399,000, two-bedroom apartments from 62 to 99 square metres from $520,000 and three-bedroom apartments from 99 to 112 square metres from $830,000.
Other than four of the one-bedroom apartments, they all have up to two secure car spaces, as well as 70 shared visitor parking spaces.
Savills has forecast weekly rents at Promenade for $450 to $540 for one-bedroom units, and $550 to $700 for two-bedrooms.
It will be the Chinese company’s first step into Sydney.
Hao Liu, director of Starryland, noted that they chose Parramatta specifically due to its current position as a cosmopolitan centre with potential for improvement.
Liu also noted that it is well serviced by public transport and motorways.
The vision for Parramatta’s northern entrance, where this development will be, is for a partnership with Smart Design Studio, landscape designers Aspect, and Starryland Australia.
“Promenade is in keeping with the style of residential communities we create in China, and we want it to set a benchmark to establish our credentials in Sydney as a quality developer,” said Liu.
“We truly believe Promenade will be the type of place where people will want to buy their first property, raise their children and grow old.”
Architect for the development, William Smart, says that there are two building designs called wharf and courtyard that use natural elements, such as water, to create the resort style.
“The ‘wharf’ buildings have horizontal slab edges in white with a pattern of vertical timber cladding and full height vertical fenestration woven between each floor level whilst ‘courtyard’ buildings appear solid and grounded with panels of dark masonry stepping along the façade,” Smart said.
Meanwhile, project director for Savills Residential Projects, Irene Lau, said that professional singles and couples would be interested due to the transport, dining, shopping and recreational options.
“Apartments in the upper floors will have spectacular multi-directional views,” Lau said.
</body></html>

Chinese developer taking $550 million step into Sydney with 11 towers in Parramatta

<html><body>
Demand
Some time ago I went for dinner for a friend's birthday at a restaurant in Surry Hills and when the conversation got on to real estate, as it does in Sydney all too often, the lass sitting next to me who had only recently moved to Sydney (living in the inner west) said: 
"You know, I can't see property prices falling around here - there's just so much demand for property and not enough of it".
I had to laugh inwardly to myself, as I wondered how someone who'd been looking for an apartment since moving to the harbour city for all of about three weeks had been able to grasp what plenty of economists - and for that matter property market commentators - never venture to get a handle on. 
That is, how tight Sydney's property market is in those popular suburbs where the supply is all but fixed. As it transpired, she was correct, with prices in the inner west rising relentlessly since that time and vacancy rates remaining wretchedly tight.
<blockquote>
In the right Sydney suburbs where supply is fixed, vacancy rates are as close to zero as we're ever likely to see.
</blockquote>
It just goes to show how a little bit of legwork can give you a genuine feel for what's happening in suburbs at a micro level, to add to what is being reported on a macro level.
Crash risks 
An oversupply of property is <a href="https://petewargent.blogspot.com.au/2014/04/crash-risks" target="_blank">one of the factors</a> which heightens the risk of a property crash, and in 2003 it appeared that Sydney might be a particularly risky proposition.
Not only had dwelling prices boomed, the rate of population growth was falling sharply (in part due to interstate migration) and vacancy rates jumped to 4.3% in the harbour city and some 5.3% in the outer ring suburbs according to the REIA.
As prices cooled, construction of dwellings dropped sharply as one would expect in a typical market cycle.
In fact, construction levels fell to such woeful levels by 2008/9 that the crash predictions being peddled at that time didn't appear to make much sense unless, of course, you believed that unemployment would increase very sharply, which in the event, it didn't - with some skill and a bit of luck.
Of course, demand for investment properties will ebb and flow with sentiment and the interest rate cycle, but ultimately in a city with a rapidly growing population if construction doesn't keep pace with requirements (which will likely happen where prices are easing) eventually this will come home to roost in the guise of a tightening market until upwards pressure on prices eventually returns.
<div>
<img src="https://2.bp.blogspot.com/-RmQ0LdgPD0o/U05gmU7bKOI/AAAAAAAAMl8/vFSYWuDiy7I/s400/ckusherrrr.jpg"> 
</div>
Source: RP Data
Those who work in the industry tell me that large developers are still genuinely struggling to break even on large scale unit developments even at today's higher prices - and this is indeed being borne out in the relatively slender net profit margins being reported by residential developers on the securities exchange.
Based upon that information, it strikes me that short of grants, concessions or other incentives being made available to developers, a drawn out fall in prices would see dwelling approvals and subsequently construction dry up once again.
This is why it is so important to understand replacement cost when reading the property market cycle.
The Reserve Bank itself gave a pretty handy rundown <a href="https://www.rba.gov.au/speeches/2013/sp-so-230413" target="_blank">here</a>.
<div><img src="https://www.rba.gov.au/speeches/2013/images/sp-so-230413-graph8.gif" width="400" height="386"></div>
The above figures for infill sites relate to multistorey apartment blocks and give a useful indicator as to replacement cost of property in Sydney.
As a very general rule of thumb, when apartment prices fall below replacement cost...au revoir construction.
On the flip side, median house prices in Sydney long ago became decoupled from any kind of sensible price/income ratio, and as such are marching to their own drum and may be more prone to a correction.
Crisis looms? 
And so, here we are today.
The REINSW reported this afternoon that March 2014 vacancy rates in Sydney had fallen to near crisis levels falling by 0.3% to only 1.4%.
<div class="separator"><a href="https://2.bp.blogspot.com/-aXekV3_smeQ/U18L1yj0aUI/AAAAAAAAM0w/qe7FZlwm4sU/s1600/REINSW.jpg"><img src="https://2.bp.blogspot.com/-aXekV3_smeQ/U18L1yj0aUI/AAAAAAAAM0w/qe7FZlwm4sU/s1600/REINSW.jpg"></a></div>
Reported the REINSW: “Sydney is going backwards in regard to properties available for rent. Something must be done to ensure that there is a greater level of choice for those seeking to secure a rental property in Australia’s biggest city."
In Sydney's inner 10 kilometre ring, vacancy levels have fallen to desperately low levels of only 1.3%, which would come as no surprise whatsoever to anyone who ventures to actually look at what's happening in the market.
A vacancy rate of 1.3% across such a dense property market is described by the REINSW as"verging on crisis levels".
There are some question marks over whether the new stock which is sold offshore is being let or left empty, but to date, with humble apologies, I have no worthwhile data to present on that. 
That may be one to look into.
Elsewhere in the state, of course, demand is significantly lower since most of the speculation is taking place in Sydney's favourably located suburbs and vacancy rates are correspondingly considerably higher.
<div>
Construction picking up
As prices have picked up, so too is now construction in Sydney, and over the coming years vacancy rates will likely eventually rise again, but the rates of vacancy likely to be significantly higher in areas where large new developments are taking place (cf. what has reportedly played out in Melbourne in recent years).
Naturally anyone buying property in Sydney today needs to be extremely wary of buying in a suburb or sector of the market which will soon be inundated with a deluge of new apartments, and that's most particularly the case for persons buying expensive off-the-plan or high rise stock.
In the right suburbs where supply is fixed, it's pretty much as you were with vacancy rates as close to zero as we're ever likely to see.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
</div>
</body></html>

pwargent-M4siyDbqQY

Is the Sydney vacancy rate really verging on "crisis levels"?

<html><body>
A development from Hot Property Group (HPG) on Churchill Road, recently given the green light by Prospect Council, South Australia, is set to be four storeys and will overshadow the heights of the rest of the properties on the road after a year of construction.
The 100 Churchill Road project is set to be the first tall building on this street since the October rezoning, reported Adelaide Now, who noted that parts of Churchill, Prospect and Main North roads were all changed to increase density. 100 Churchill Road, <a href="/news">Prospect </a>is, at present, HPG’s head office.
However, these changes actually allow developers to build five storeys on Churchill Road, so this may not remain the tallest building for long.
Six one-bedroom, 15 two-bedroom and three two-bedroom plus study apartments will be up purchase from $331,000, Adelaide Now notes. However, online marketing suggests that just 21 apartments will be built. At present, the median unit price for Prospect is recorded at $341,500.
Currently, the site is their one-storey head office building with their bright orange branding, and carpark, located near to Sam Johnson Sportsground.
It is co-owned by Tony Pullino and Valentino Fuda, under Pullino Fuda Commercial Holdings, which appears to have been purchased in August 2010 for $484,000, according to RP Data records. In its previous transaction, April 1995, it sold for $140,000. RP Data records the site as being 884 square metres. In 2009, the council released a masterplan for Churchill Road, which suggested that an increase in residential density would be appropriate.
Hot Property Group, who market themselves to investors in Adelaide, are previous HIA South Australia winners, including for affordable housing and for a townhouse/villa development in 2011.
According to online listings for the apartments, they boast close access to the train station and bus routes. They include separate vehicle entry and exit, with undercover parking for one vehicle and overhead storage and balconies.
Contracts are ready for a May signing with a minimum 10% deposit, with those signing before June 30 eligible for the government’s stamp duty exemption benefit.
</body></html>

SA’s Hot Property Group to redevelop their Prospect head office into apartments under new zoning

<html><body>
In a suburb being called an ‘up and comer’, ORE in Waterloo, Sydney has sold out, with plans for construction to complete in September.
Located at <a href="/news">Waterloo</a>’s 18-22 Amelia Street, <a href="https://oreapartments.com.au/#/home" target="_blank">ORE</a> is a luxury development with 53 one, two and three bedroom apartments spanning eight levels with lift access.
Sold at a price said to be “considerably higher than the median asking price” for local apartments, Mainland Chinese buyers are behind a number of the purchases. Back when the development was advertised, prices were recorded for one bedroom from $495,000 and two bedrooms from $599,000. Median prices have steeply risen over the past years, currently sitting at $640,500 for apartments. At the beginning of 2012, after a dip from 2011, the median sat at $513,500.
Project marketers for the development, CPM Realty, said that the sell out is due to a massive shortage of stock, particularly new, within inner Sydney. CPM Realty managing director Sam Elbanna said that a lot of land is being traded, but it’s not all being developed.
“When property is traded and not developed the shortage increases demand,” he said, noting demand is at a high not seen for some time.
“We’ve only got a sprinkling of new apartments around the CBD and we’re putting this down to a strong market but more importantly, not enough new developments to cope with demand.”
Property Observer previously <a href="/expert-insights/buying/incentives-on-offer-as-waterloo-developers-battle-government-timelines-to-entice-buyers">reported that Ore gave a hefty push to bring in first home buyers</a> who may be attracted to the incentives.
The development was designed by MBMO architexts and developed by SG Sans Group.
There is a double storey lobby, and the apartments have balconies, stackable balcony doors, security car parking and green communal spaces.
Some of the apartments were advertised with park views over Moore Park golf course, including the last three-bedroom apartment, on level seven. It was marketed with wool carpets, timber floors, stainless steel smeg appliances, a 10 metre wide balcony with floor-to-ceiling glass, a media desk and storage closets.  This three bedroom, two bathroom apartment with 99 square metres of living area and a 19 square metre terrace was advertised at $959,000.
<img src="/images/2014/04/29/waterloo-april-29-two.jpg" alt="">
The development was also offering a number of retail opportunities in the “new hip bohemian precinct”, including cafes and potential restaurants across from a planned carpark, that also suggested the sites, with alfresco areas, could be used as convenience or medical stores, as well as office opportunities.
It is noted that in the residential development there is a 70/30 owner occupier to investor split.
<img src="/images/2014/04/29/waterloo-april-29-one.jpg" alt="">
</body></html>

Waterloo, Sydney sees sell-out of ORE’s 53 apartments

<html><body>
In a little over five years two aspects of real estate marketing have been transformed; the popularity of auctions in the private treaty market and the maturing of marketing new apartment projects off the plan.
For many private vendors auctions are now the number one way to sell a home and off the plan sales now dominate the apartment market, and there are many reasons why buyers have embraced these trends. While I want to concentrate on off the plan marketing, auctions share one key advantage and that is certainty.
When the gavel falls the buyer is certain that they now own that property. I think that much the same can be said for our off the plan buyers, and while the actual method of sale is clearly different today’s project marketing does I suggest deliver that same feeling of certainty and security and we can in part thank the GFC for this.
However, I do acknowledge that not that long ago buying off the plan was not always risk-free. But today buyers have made this a popular choice and I think in the main because of the quality of planning and marketing that goes into any new project and it is here that the impact of the GFC has had played a role. Post-GFC the requirement for a high percentage of pre-sales to 80% plus became the norm and in response developers realised the importance of quality marketing which buyers embraced.
Firstly a fundamental; buyers, whether they are owner occupiers or investors, can have the pick of apartments in a new development. They can in some cases personalise the interiors and there is an opportunity for capital gain if the market moves up between the contract date and settlement.
While it is true that there are some risks in purchases off the plan, including the fact that buyers are financially bound to projects that may in rare cases be delivered late in today’s market professional developers know and greatly value of their reputation. The delivery process is well managed and a majority of buyers are more than comfortable with the fact that time can be on their side. Time to organise the sale of an existing home, or organise finance or for a SMSF investor time to plan without immediately tying up all of their capital. In some but not all states there can also be stamp duty savings alongside the fact that stamp duty is usually a differed payment, and properties are secured with an interest earning deposit, which is usually 5% – 10%.
One final point in the buying process is the format and content of contracts; these are now very familiar areas of conveyance and are no longer seen as a hurdle for solicitors and conveyancers to negotiate on behalf of their clients, its all very transparent, a seamless and reliable legal procedure for buyers, including first time buyers.
The appeal of new
A key a feature of buying off the plan is the appeal of the new, a new building, but also in many cases a new community or a new development area where the wider prospects beyond the building itself are also very attractive. It’s also seen as an exciting process and buyers have readily taken to buying after the conduct of an ROI (registration of interest campaign) this process gives buyers ample time to look into every aspect of a project, an this is where much improved marketing support delivers results.
Off the plan no longer involves ‘second guessing’ – which in the past had been a criticism. The problem being that people did not know what they were buying, but this has not been the case for many years.
Marketing assets and the depth of information available to buyers is now very impressive. In fact for some major developers the sales path has morphed into a full brand experience that is totally focused on the buyer in a constructive and imaginative format. And when success is counted, or a project launches with stunning results it can all be traced back to quality.
Today’s off the plan market is constantly underpinned by quality and nothing is left to chance. Buyers have access to a wide range of assets from easy to navigate web sites and easily understood floor plans, to complete display apartments with detailed finishes options and this is an investment made at considerable expense and I think does act to re-assure buyers. I think it is also worth noting that even when there is strong demand for projects, short cuts are not being taken, marketing still remains a high priority.
This is important, because while buyers are now days very comfortable with off the plan marketing, standards still have to be always improved, an active market is not a reason to relax standards and the quality of marketing.
Wider horizons For buyers
Another tick for off the plan buyers is earned by the fact that thanks to the quality of marketing material and support many buyers now look well beyond their own home markets for opportunities. We now have projects sold to a cross section of buyers from almost any location and that includes offshore buyers.
While this part of the market was always there the quality of marketing has now made it very easy and we know that buyers from say Sydney are only to happy to buy off the plan in Brisbane or Melbourne, or an off-shore client will look at any location. This portability of location is also a great bonus for investors who now have the ability to access any market with confidence. We have come a long way from the days of a fabled ‘free flight’ to the Gold Coast or other location as a honey pot incentive to a potential client. Today the depth and quality of information is a foundation for great portability in the apartment market.
Off the plan marketing is now very attractive, it’s the norm for even the most inexperienced of buyers with standards, quality and innovation always increasing. The market is very comfortable with the ability to access varied projects and locations, with time to plan and with the certainty of a known price all supported by quality marketing.
</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