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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An unidentified cashed up Europe-based buyer - thwarting the nascent trend of Asian buyer interest in the Southern Highlands - has secured Chain of Ponds before this weekend's scheduled auction.
The property is the matrimonial farm of Sydney businessman farmer Peter Holmes à Court and his former wife, Divonne, who now lives in Saanen, Switzerland where the children are schooled.
It had been set for 26 April auction with $6.3 million plus hopes through <a href="https://www.mcgrath.com.au/buy/acreage-rural-mittagong-nsw-2575/194333/?searchID=38671885" target="_blank" style="line-height: 1.3em;">McGrath Bowral agent Anne Stone</a> and <a href="https://www.mcmillanrealestate.com.au/property-details/property-details?id=2237" target="_blank" style="line-height: 1.3em;">Howard McMillan from McMillan Real Estate Bowral</a>.
The sale price has not been revealed but Title Tattle is aware of $6 million plus offers.
APM reported Sydney vendors notched up a 78% Anzac Day weekend clearance rate, up on the 73% rate on the same weekend last year, with the highest recorded sale being 229 Prices Circuit, Woronora at $1,610,500.
With the wonderful autumn rains, Chain of Ponds presented picture perfect in the auction marketing, <a href="/news/gardens-mudrooms-grand-gates-private-lakes-and-fire-places-southern-highlands-trophy-home-requisites">as Property Observer columnist Margie Blok recently noted</a>.
The property is currently run as a beef breeding and fattening property on a large scale for the Southern Highlands but could easily be transformed into a high class horse stud. 
Occupying 145 hectares on Old South Road, the property has a six-bedroom residence renovated by Luigi Rosselli Architects.
It is set in extensive gardens designed by landscape luminary William Dangar.
At the western edge of the house paddock, Dangar planted acacias, hakeas and eucalypts all species endemic to the local area to form a screen for privacy and wind relief.
With potential for subdivision into three separate lots, Chain of Ponds is six kilometres from Mittagong and 11 kilometres from Bowral.
The Holmes à Courts oversaw the planting of 5,000 native trees linking the property with surrounding national parks. The property is well irrigated with 12 dams and the Chain of Ponds creek.
Title Tattle is aware of several trophy home sales over recent months, the most noteworthy being The Chase, on Oldbury Road at Sutton Forest through Bill Carpenter from W. McI Carpenter &amp; Associates at Bowral. The Chase, the historic trophy property, <a href="/news/malaysian-tycoon-teo-ah-khing-from-china-horse-club-snaps-up-historic-the-chase-at-sutton-forest">was bought for $5.8 million by the Malaysian horse racing tycoon Teo Ah Khing</a>.
It had been put to December 2013 auction through Bill Carpenter inconjunction with Campbell-Jones Property agent Angus Campbell-Jones. Last traded at $5.2 million in 2011, the 40 hectare property was offloaded by John Starr, a real estate franchise tsar of Sydney’s western suburbs.
Patchway on Ranelagh Road, Burradoo also sold in January to locals for about $4.2 million. It was the home of Lyn Wilson and her engineer husband Ken who Title Tattle recalls supplied steel fabrication for the Olympic Stadium at Homebush.
Still no settlement details on <a href="/news/gai-and-robbie-waterhouse-tipped-as-dunsinea-mittagong-cattle-farm-buyers">Dunsinea, the 40 hectare Mittagong, Southern Highlands NSW trophy property that has been sold for about $4.95 million</a>.
All the locals reckon that champion horse trainer Gai Waterhouse is their new neighbour, along with her extended family. Apparently the Waterhouses are thinking of selling their Clifton Gardens home and buying a Sydney apartment.
Dunsinea has views over the bushland of the Nepean State Conservation Forest. 
It was sold by Mark and Rosie Mitchell who developed the holding from the ground up after returning from the UK in 2002. They first tried to sell in late 2008 with $7 million plus hopes, then more recently with a $5.25 million asking price through Sam Triggs from Meares and Associates and Michael Maloney from Richardson and Wrench Bowral.
Set on the northern fringes of the Southern Highlands, Dunsinea comes with modern ‘rammed earth’ five bedroom sandstone home.
<a href="https://www.randw.com.au/1066175/" target="_blank">Dunsinea</a> is surrounded by 100 acres of rolling grazing land, some 15 kilometres from Bowral.
The house is srrounded by its green and white garden, complete with 10 metre heated pool and all weather tennis court. There is also a guest cottage.
The main residence boasts 300mm - 450mm thick walls and 10 foot high ceilings.
Title Tattle recalls Margie Blok, after inspecting the home in 2008, noted it had been meticulously built with classic architecture.
"The house has superb proportions, solid sandstone walls, stone verandas and custom-made Georgian-style windows with double glazing. Inside, the rooms have 3.6-metre-high ceilings and polished stone floors, which are heated for winter warmth," she wrote.
"The front door opens to a wide central hallway with two guest bedrooms, a bathroom, a guest toilet and a study on the left. Opposite are the formal sitting and dining rooms.
"At the end of the hall is a central pavilion with a television room and a large family living-dining area with an open-plan kitchen. Off this is another kitchen (for caterers or food preparation) with a coolroom and cellar," Margie Blok told her readers.
Its formal dining room was subsequently included in the ‘Best 50 Rooms’ by House and Garden magazine.
The pasture was marketed as ideal for cattle grazing with the property fattening 40 to 50 steers year round. Title Tattle gathers that would translate accomodating around 20 horses, as is.
It had been for sale on and off for several years, even attracting the fleeting attention of the Prime Minister Kevin Rudd and his wife, Therese. 
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jchancellor-FAypfDUnLy

Peter and Divonne Holmes à Court sell Chain of Ponds, Mittagong for bullish $6 million plus

<html><body>
Celebrity angler Andrew Ettingshausen and his wife Monique have their Port Hacking home listed with $4 million plus hopes for 24 May through McGrath agent Bernadette Berlyn.
The five-bedroom, three bathroom waterfront property with views to Maianbar and of the Royal National Park comes with a wet-edged pool.
The former Cronulla Sharks player, known as ET, retired after the 2000 NRL season.
He then hosted the fishing show, Escape with ET. 
<a href="https://www.mcgrath.com.au/buy/house-port-hacking-nsw-2229/196944/?searchID=38645262" target="_blank">The 1,130-square-metre property</a> with a boathouse, jetty and pontoon was bought more than two decades ago for $575,000 in 1990 when it was a modest two bedroom cottage.
The marketing now describes it as a "grandly scaled home occupies a prized peninsula position with dynamic river views."
In the early 1990s Andrew Ettingshausen, was described as being "the face, body and image" of rugby league and a list Australia's richest sportsmen and women suggested Ettingshausen earned through football and endorsements, approximately $500,000 in 1991. 
He was presumed to be in the $150,000 plus bracket with Cronulla-Sutherland; also working for the NSW Rugby League in their schools program; had a contract with Coca-Cola and paid appearances on Channel Seven and 2DAYFM and other endorsements.
</body></html>

Andrew Ettingshausen, ET, lists Port Hacking waterfront house

<html><body>
A South Melbourne property has been sold by the University of Melbourne for $10.78 million to the Victorian state government with the settlement last month.
It is set to become a primary school after the then Baillieu state government responded to the perceived looming crisis of rising enrolments and overcrowded inner city state schools. 
The 129-161 Ferrars Street property was identified in a 2012 report that signalled its as the preferred location for a new primary school due to its access to the 96 tram route and proximity to the Melbourne Sports and Aquatic Centre.
The report by Ernst &amp; Young acknowledged the 5,136 square metre site's closeness to City Road could pose a congestion problem.
The number of five to 12-year-olds in Southbank and Docklands is forecast to jump from 285 in 2011 to 1,366 in 2021.
The primary school is expected to open in about 2017, and could be expanded to take students up to year nine.
The site, variously owned by James Hardie, Rocke Tompsitt &amp; Co, and Elders through the decades, has been owned by the university since its 1977 purchase of the then Nathan Blight building.
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University of Melbourne secures $10.78 million in future South Melbourne state school site sale

<html><body>
There are 349 auctions scheduled this week in Melbourne. Whilst higher than last weekend volumes are lower than usual due to Anzac Day.
RP Data captured 43 auction results across Melbourne last week with 25 successful sales recorded; however, due to the very low volume a clearance rate would not be statistically reliable.
The number of active buyers and sellers is clearly higher than it was over the past three years. However, as <a href="/expert-insights/investing/first-home-buyers-in-victoria-lowest-in-23-years">first home buyers are at record lows</a> the improved demand is coming from other segments.
Data shows that there are a proportionally higher numbers of upgraders and investors that was the case in the last rising market in 2009.
This highlights a fundamental difference to the last few cycles in the market as not only is this one shallower so far but there is a different mix of buyers.
Key data
<ul>
<li>Clearance rate week ending 20 April: NA due to low volumes 
</li>
<li>Melbourne auctions expected week ending 27 April: 349 
</li>
<li>Melbourne private sales time on market week ending 20 April: 33 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 20 April: -5.6% (houses) 
</li>
<li>Listings being prepared for market are 19.4 per cent higher in month ending 20 April (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Property cycle now shallower with different buyer mix: RP Data's Melbourne auction preview

<html><body>
Underquoting has received a lot of air time on Property Observer recently, and it's starting to make its way through mainstream media as well.
With <a href="/news/online-petition-for-mandatory-reserve-price-publishing-launched">a recent petition from Patrick Bright, asking for reserve prices to be published to solve this problem</a>, seeing an uptick in signatories it's clear that we're only going to hear more about the issue.
Here are six things you should know about this topic.
<ol>
<li>
It's often referred to as 'bait pricing'  Underquoting is often referred to as 'bait pricing', in the sense that it baits buyers by suggesting they may be able to snap up a bargain. 
</li>
<li>
It is unlawful, and is attracting official scrutiny  Underquoting is not a legal, or ethical, practice, and recently has had <a href="/news/misleading-auction-price-advertising-to-be-targeted-by-consumer-affairs-victoria">Consumer Affairs Victoria pledge to look more deeply into the issue</a>. However, they are not the first official body to try looking into the practice. Previously, Fair Trading has also apparently conducted an investigation. 
</li>
<li>
The frequency of underquoting is hotly debated  There have been no official estimates, and industry bodies, and members, argue that it's anywhere from infrequent to every agent but a few. It appears this cannot be agreed upon. Property Observer has <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">regularly asked experts about this issue, with very little consensus</a>. In our exclusive, we <a href="/news/take-that-price-guide-with-a-grain-of-salt-underquoting">asked a number of experts 'Is underquoting an issue we should be focussing on? If yes, how should we go about addressing it?', you can see all their answers here</a>. 
</li>
<li>
Buyers lose out financially  While some will argue that a buyer will not bid beyond what they can afford, and one would hope this is true, buyers will lose out financially if they believe they have a chance of achieving the property at the lower price. Pest and building inspections, solicitors fees and the cost of their own time attending open homes and researching a property - these are all costs that a buyer will have to foot the bill for, without any chance of achieving the home. 
</li>
<li>
Queensland is so concerned about underquoting that they're considering losing price guides completely  One of the most discussed stories in the industry over the past few months has been Queensland's potential removal of price guides, which the <a href="/news/nsw/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate">Real Estate Institute of Queensland's Anton Kardash has noted is to avoid 'such complaints' that are rife in 'other states'</a>.  “We all know that by advertising a price guide or giving an indication of the reserve price, an expectation may be set at a level that is too high or too low and this may impact on the outcome of the auction,” he said.  “It is with great pride that Queensland can say that it has largely avoided claims of misleading and deceptive conduct in relation to property price guides. Unlike in some other states where such complaints are rife, Queensland has not been subject to constant complaints of such a nature and will continue to prevent any future issues with the passing of this legislation.” 
</li>
<li>Underquoting might not even get vendors the best price</li>
</ol>
While the phrase 'Quote it low, watch it go' and variations have regularly been used to explain why real estate agents use bait pricing, it's interesting to see this in practice. At a recent auction, where underquoting was suspected, the auction actually achieved less than an earlier private treaty offer through a different agency.
If the buyers that attend cannot afford the true price the vendors want, then it's not the right crowd at the auction. All that happens is that a lot of people show up, which makes the agent look like they're doing a great job, however they are people who may not necessarily have deep enough pockets.
YOU MAY ALSO WANT TO READ Mark Armstrong's <a href="/expert-insights/investing/underquoting-the-clear-and-transparent-solution">Underquoting: The clear and transparent solution</a>
Room for debate: <a href="/expert-insights/investing/room-for-debate-are-melbourne-agents-underquoting">Are Melbourne agents underquoting?</a>
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jduke-EHk3XBmHkn

Six must know facts about underquoting

<html><body>
I must be missing something here.  I have been told that I am slow.
But for the life of me I cannot see how the recent price growth in Sydney and Melbourne (up 15% and 12% respectively over the last 12 months) is anywhere near sustainable.
Nor can I see how the median Australian house price (which apparently is $535,000) is just over four times the disposable average family household income.  That would mean that on a gross basis, the average Aussie family earns about $175,000 each year.
Hmmm, something must be amiss.
Experiment
Each article i write is kind of like an experiment.  Topics are chosen often because the common rhetoric doesn’t seem to add up.  Sometimes they get picked because I like to disagree.  Many more are actually written than published.
In most cases we go back to basics – “explain it to me like I was a five year old” – it worked for Denzel Washington in the movie, Philadelphia, and it works for us too.
So in this regard we did the following:
<ul>
<li>Went to the 2011 Census for each capital city and found the median family household income 
</li>
<li>Worked out – via average weekly earnings – which are updated by state/territory twice each year –how much, by proxy, family incomes may have risen since the last census.  There was a big variation between each city. 
</li>
<li>Determined disposable income (gross wages minus tax) using an up-to-date (2013/14) online calculator. 
</li>
<li>Recorded dwelling prices by capital for all dwellings; houses and attached product according to the latest release from RP Data. 
</li>
<li>Used AFG’s mortgage index to determine the average loan to value ratio for each state/territory.  Overall, the average equity is 32% on recent home loans according to AFG. 
</li>
<li>Applied a basic online mortgage calculator using a principal and interest loan; 30 year time frame and 5.95% variable interest rate (the average rate, according to the RBA). </li>
</ul>
Our aim here is to find out two things:
<ul>
<li>The current dwelling price to income ratio for each capital, and 
</li>
<li>The proportion of disposable family income needed to pay the average mortgage in each city today. </li>
</ul>
Now that sounds pretty logical, right?  No silly things like prices versus nominal GPD; nor is income determined by national accounts.  Just a simple comparison between what we say we earn; what we have left over, in theory at least (as day to day expenses just seem to be escalating far beyond CPI), after tax; and how much a dwelling costs to buy.  Importantly, it is measured on a city by city basis.
So here are the results – all for March 2014.
Sydney 
<table style="width: 523px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="433">
Median dwelling price
</td>
<td width="90">
$762,000
</td>
</tr>
<tr>
<td>
Median detached house price
</td>
<td>
$818,000
</td>
</tr>
<tr>
<td>
Median attached dwelling price
</td>
<td>
$585,000
</td>
</tr>
<tr>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td>
Median family household income
</td>
<td>
$97,500
</td>
</tr>
<tr>
<td>
Median disposable household income
</td>
<td>
$72,000
</td>
</tr>
<tr>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td>
Ratio - dwelling price to disposable income
</td>
<td>
10.6
</td>
</tr>
<tr>
<td>
Ratio - house price to dis. income
</td>
<td>
11.4
</td>
</tr>
<tr>
<td>
Ratio – attached price to dis. income
</td>
<td>
8.1
</td>
</tr>
<tr>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td>
% dis, income needed to buy dwelling
</td>
<td>
50%
</td>
</tr>
<tr>
<td>
% dis, income needed to buy house
</td>
<td>
54%
</td>
</tr>
<tr>
<td>
% dis, income needed to buy attached
</td>
<td>
38%
</td>
</tr>
</tbody></table>
Houses are very overpriced; attached property is heading that way.
Melbourne
<table style="width: 523px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="433">
Median dwelling price
</td>
<td width="90">
$669,000
</td>
</tr>
<tr>
<td>
Median detached house price
</td>
<td>
$699,000
</td>
</tr>
<tr>
<td>
Median attached dwelling price
</td>
<td>
$498,000
</td>
</tr>
<tr>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td>
Median family household income
</td>
<td>
$93,500
</td>
</tr>
<tr>
<td>
Median disposable household income
</td>
<td>
$69,500
</td>
</tr>
<tr>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td>
Ratio - dwelling price to disposable income
</td>
<td>
9.6
</td>
</tr>
<tr>
<td>
Ratio - house price to dis. income
</td>
<td>
10.1
</td>
</tr>
<tr>
<td>
Ratio – attached price to dis. income
</td>
<td>
7.2
</td>
</tr>
<tr>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td>
% dis, income needed to buy dwelling
</td>
<td>
50%
</td>
</tr>
<tr>
<td>
% dis, income needed to buy house
</td>
<td>
52%
</td>
</tr>
<tr>
<td>
% dis, income needed to buy attached
</td>
<td>
37%
</td>
</tr>
</tbody></table>
Like Sydney, Melbourne’s houses are very expensive and attached property is heading the same way.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
</body></html>

michaelmatusik-49YzLvdmNv

Price growth in Melbourne and Sydney is not sustainable

<html><body>
GUEST OBSERVATION
The aftermath of bidding on our fourth Melbourne series of The Block has been busy and we can’t believe how much interest our involvement on the finale generated. 
I like my new nickname “The Frankinator” given to me by reporter Alison Stephenson in a News Limited article.
The Block auctions in 2014 are now over and we congratulate all the contestants on their big financial windfalls. The total combined profit was $2,426,000, working out to be an average of $606,625 each. The breakdown was:
<ul>
<li>Dale and Brad ($507,750) 
</li>
<li>Kyle and Kara ($567,250) 
</li>
<li>Lysandra and Alisa ($616,000) 
</li>
<li>And the overall winners Chantelle and Steve ($736,000)</li>
</ul>
You would be disappointed if you were the Cameron Street Richmond contestants who in 2011 won much less than any of this year’s contestants with total winnings of only $225,000. That’s a total difference of $2,201,000 or 978% less. No wonder this year’s contestants were crying with joy!
Unfortunately there were no bargains to be had again this year, unlike our purchase of Polly and Waz’s house in Richmond for $858,000 for one of our investor clients. With a fantastic current rental of $995 per week and an extra $30,000 per annum in depreciation, this represented great buying and it is still returning 12% rental return year on year.
Myself and other Real Estate Professionals believed that the properties would sell in the vicinity of $2.2 to $2.5 million which was what properties in a larger townhouse development in Danks Street, Albert Park with similar accommodation had been selling for.
OUR CLIENTS AND BIDDING 
<img src="/images/2014/04/24/valentic-april-24-one.jpg" alt="">
Frank Valentic bidding at The Block: Fans v Faves auctions. Picture courtesy of Channel 9.
We were bidding for an investor who was a business owner in Kilsyth for Brad and Dale’s property with a budget of $2.3 million, giving our client a 6% return and unfortunately we were the under bidders. There were at least six other bidders and an eventual sale price of $2,310,000. Our client was disappointed we fell short as he had another property settling that week and he said he would have definitely pushed himself higher for these unique properties if he had more funds available.
We then bid on Kyla and Kara’s apartment for our home buyer clients who were a professional young married couple in their 30s living in Southbank.  The intensive care surgeon and marketing manager couple were keen to bid on both of the north facing properties with the tree lined street views.  We bid strongly to our budget limit of $2,430,000 and again were unfortunately the under bidders, to another real estate professional who bought it for $2,440,000 for a downsizer elderly couple.
We had an investor client who was a business owner in Horsham who was keen to snag a bargain and a 7% return (around the $2.2 million mark) for the next auction but we didn’t get many bids in with six to seven bidders taking the twins’ Alisa and Lysandra’s property to $2,380,000, so we were never really in the hunt for this one. 
The last auction was our home buyer professional couples’ first preference as they were attracted to the amazing city skyline vistas and the larger north facing living area.  I have bid at over 2,000 auctions over the last 19 years as a buyer’s advocate / buyer’s agent and attend many auctions each weekend, and I have never been more nervous at an auction. It was our client’s first choice and our last roll of the dice.
My client was performing operations at his hospital and his female partner was too emotional and nervous to be anywhere near The Block, so she was waiting with family nearby.  I knew there would be five to six bidders for this preferred north facing property so I jumped the bidding early from $1.9 million to $2.2 million, as we now do with most auctions every weekend in the current buoyant Melbourne market place.
I bid confidently and assertively and shook off a few other bidders to be left fighting it out with another buyer's agent, who I found out afterwards was bidding on behalf of an overseas Chinese investor.  It literally came down to the wire and we finally secured the apartment for our home buyers on our last bid of $2,470,000.  It was almost like déjà vu as we missed out on the first three Sky High apartments last year in Park Street South Melbourne before securing the last apartment on our last bid for a single female downsizer client from Glen Iris.
Our delighted home buyer clients arrived to sign contracts in their new home and then had celebratory champagne at their new local, The Vincent.
Our fourth Block auction experience was another exciting action-packed night.  Our two investor clients were disappointed to miss out although they understand how important it is to stick to their set budgets.  The TV show continues to have a successful formula and attracted great support from over four million viewers.  My family and I enjoyed watching the series and enjoyed being a part of the experience again and it’s great to see more positive headlines in the press regarding the Melbourne property market again.  The great Australian dream of owning a beautiful home continues to appeal to viewers and this year resulted in great results for Channel 9, the contestants and all the successful purchasers again.
We look forward to hopefully being involved in our fifth Block series with the <a href="/news/the-block-shifting-to-high-street-prahran-after-objectors-fail-to-lodge-vcat-appeal">office conversions at 121 High Street Prahran</a> which they have already started filming and have already had their first room reveal. The series will air around September later this year. “The Frankinator” looks forward to hopefully being part of the next series!
Frank Valentic is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
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It was our last throw of the dice: Bidding and winning at The Block: Fans v Faves auctions

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New research released today has found that half of renters say they cannot afford a home deposit, while over a third of renters have been renting for five-plus years, according to realestateVIEW.com.au.
The Housing Sentiment Report has found that for many renters, there are two major factors affecting the desire to purchase a home.
Speaking to Property Observer, general manager of <a href="https://www.realestateview.com.au/" target="_blank">realestateVIEW.com.au</a>, Petra Sprekos, noted that it is her understanding that renters are stuck on the roundabout balancing two factors – affordability and lifestyle.
Noting that 28% of those surveyed noted that they cannot afford to buy where they want to live, with over 30% believing they cannot afford mortgage payments, it is interesting to note how these two act in concert.
“Renters do want to live close to work and to the shopping strips,” explained Sprekos. These locations, including the more fashionable suburbs, have become increasingly expensive, making affordability a growing concern.
However, she notes that it isn’t just the cost of property that’s an issue. It’s also the cost of other, now common, expenditures, such as holidays or even school fees.
“When you compare 20 years ago [to today], the biggest cost for a family or a couple or a single person was their home loan or rent, today there are also car loans, school fees, nice restaurants and holidays, as well. There’s more that people do these days and that’s when affordability comes in,” she explained.
Overall, she noted, it’s about perspective and the compromises renters are willing to make.
Anyone who remembers RP Data’s “cheaper to buy than rent” reports will note that there are often areas where repayments are lower than rent, which is the concern of 32% of the renters surveyed. For those not willing to venture to these suburbs, then there are still options.
Sprekos suggests the following considerations:
<ol>
<li>Consider purchasing an investment property in an area you can afford, while renting where you want to live. 
</li>
<li>A joint venture (particularly for an investment) might be a consideration, where you team up with a trusted friend, partner or family member to buy together. 
</li>
<li>Ask your parents to stand guarantor or to provide assistance in some way.</li>
</ol>
“It could be a little bit of fear of the unknown, or a fear that they can’t spend anything else and have the same lifestyle. You do adapt,” she said.
Of those looking to buy at present, 19% rely on their parents in some way, according to the survey’s findings. This may be through borrowing money, living with them while they invest, or using them as a guarantor. Of first home buyers, 42% use one of these strategies.
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The two aspects stopping most renters from buying

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Pure Kirra, a $70 million residential tower for the Gold Coast from Pikos Group, has reached its halfway point with a July completion date expected. It’s also just one of two highrise apartment projects currently underway on the southern Gold Coast.
Launching their furnished display suite for <a href="https://www.facebook.com/PureKirra" target="_blank">Pure Kirra</a> over the Easter weekend, they were looking to capitalise on the number of holidaymakers to the city for their 33 beachfront apartments in Coolangatta.
CBRE Gold Coast project marketing agent, Chris Litfin, said that the July completion date is on track.
“The opening of the furnished display suite was well-timed to take advantage of the long weekend, which is traditionally an active period for the local market,” Litfin said.
“The project offers increasingly rare premium-grade apartment product in a blue-chip beachfront position and the market has responded well to this,” he said.
The tower is 12 storeys with two-bedroom apartments with a multi-purpose room, being advertised as convertible into a third bedroom, each with north-east aspects and ocean views. There are just three of these apartments per floor.
The apartments remaining are from 131 to 304 square metres from $829,000. A 134 square metre apartment on level seven is being advertised at $945,000. Some include balconies and decks.
Previous marketing suggested that the cheapest apartment was snapped up for $769,000.
Apartments all include underground carparking, but there is also a ground-floor retail precinct, as well as a swimming pool, barbecue and entertainment space solely for residents.
The display suite is located at 30 Musgrave Street, Coolangatta.
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July completion date for Pure Kirra tower on southern Gold Coast

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Lend Lease have circulated an April newsletter for their forthcoming <a href="http://www.batmanshillcollinsstreet.com.au/">Batman's Hill</a> development which outlines plans for the two commercial buildings that will front Melbourne's premier locale: Collins Street. Included within the newsletter are images of the dual commercial buildings that as of last week were submitted to State planning body DTPLI for assessment.

Upon first glance last week - and up to this point - little has changed in my opinion of these two proposed buildings.

<h2>Why 695 Collins Street disappoints</h2>

<ul>
<li>In isolation the design has little architectural flair, befitting of a suburban office park rather than a Collins Street address. The duplicated design offers a sheer wall effect with little visual permeability to what lies behind.</li>
	<li>700 Collins Street directly opposite and AXA at 750 Collins Street nearby are prime examples of simplistic, uninviting early Docklands designs which have been roundly criticised. A decade later and 695 Collins displays little design progression.</li>
	<li>Lend Lease trumpet Sydney's Barangaroo as a "Once in a 200 year opportunity to create a bold new place to live, work and visit." If 695 Collins Street is a precursor to a 'bold' Batman's Hill precinct, we have a problem.</li>
	<li>Street level finishes at this point are lacking style and substance. What seem to be odd-sized, composite panel-clad boxes lining Collins Street; they look cheap although in fairness are infinitely more active than the monstrosity that is <a href="http://www.750collinsstreet.com.au/sites/750collins/files/1332_35.jpg">750 Collins Street</a>.</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/llbh4.jpg" rel="gallery-all" title="Indicative Collins Street perspective. Image © Lend Lease"><img alt="" class="image-article-full-width-580px" height="720" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/llbh4.jpg?itok=HuHyg4qa" title="Indicative Collins Street perspective. Image © Lend Lease" width="580"></a>

<figcaption>Indicative Collins Street perspective. Image © Lend Lease</figcaption></figure>With a half deck covering Wurundjeri Way as envisaged below, poor old Bunjil, the 25 metre eaglehawk and Docklands sentinel will be relocated. Relocated between Towers C3 and C4 and for the most, lost out of view. I can't help but think the abbreviated deck over Wurundjeri Way has compressed the layout of the commercial buildings leading to maximising the available development envelope - in other words boxy designs fronting Collins Street with little if any setbacks.

The other aspect to note is that the C4 office tower that was expected to reach as high as 160 metres and now looks to be no more than 12 levels in height according to the above image. This pocket of Docklands is littered with boxy 10-15 level commercial buildings - one more to join the party!

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/llbh5.jpg" rel="gallery-all" title="Batman's Hill site overview. Image © Lend Lease"><img alt="" class="image-article-full-width-580px" height="693" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/llbh5.jpg?itok=7Rp6_CJ4" title="Batman's Hill site overview. Image © Lend Lease" width="580"></a>

<figcaption>Batman's Hill site overview. Image © Lend Lease</figcaption></figure>Not impressed with my assertion that 695 Collins Street as seen above is a hapless, ill conceived design? Ponder the following two designs.

Below left sees the Grocon/Mirvac/Hassell Studio concept for Batman's Hill. Aside from a signature high-rise that would define the precinct within Melbourne's skyline, Hassell's scheme carries far more open space by way of a larger deck over Wurundjeri Way and built form which is articulate yet uncluttered.

The other image below highlights ARM's ostentatious Collins Street frontage as part of their precinct design; unique, eye-catching and worthy of the address!

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/bhprop6.jpg" rel="gallery-all" title="Images © Hassell Studio and ARM Architecture"><img alt="" class="image-article-full-width-580px" height="271" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/bhprop6.jpg?itok=UQb7zrHG" title="Images © Hassell Studio and ARM Architecture" width="580"></a>

<figcaption>Images © Hassell Studio and ARM Architecture</figcaption></figure>In other words, both examples and their Collins Street frontage are precisely what Docklands requires and a polar opposite to what has been proposed.

By some miracle should the Lend Lease scheme shown above not be the intended design for 695 Collins Street, I'll be the first one to say the joke's on me. Otherwise the joke's on anyone expecting a quality outcome for an area that truly needs it!
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