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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The pre-Easter auction rush gathers pace this weekend with 790 homes set to go under the hammer, the highest number of Saturday auctions this year.
The following two weekends’s each have in excess of 900 homes.
The prestige market continues to improve with last Saturday recording 20 sales of properties above $2 million, according to Australian Property Monitors.
Prestige buyers were active in the lower north last weekend with a stunning clearance rate of 92.5%. Next best was the city and east with 89.7% followed by the inner west with 86.8%.
Andrew Wilson, the senior economist for Australian Property Monitors, says this weekend the inner west will again provide the most number of auctions at 128 followed by the south with 107 and the city and east with 103.
Ashfield in the inner west is the most popular suburb for auctions this weekend with 12 listed. This is followed by <a href="/news">Paddington</a> in the city and east with 10 and number of suburbs with nine auctions scheduled including <a href="/news">Epping</a>, <a href="/news">Earlwood</a>, <a href="/news">Bexley</a> and <a href="/news">Chatswood</a>.
Last weekend a <a href="/expert-insights/buying/corrugated-iron-1940s-tin-shed-2-73-million-redfern-record-after-raffaello-rosselli-repurposing">Redfern offering set a record price</a> for the suburb. 
Recently a <a href="/news/lavish-strathfield-offering-sells-for-record-6-8-million-as-inner-west-prestige-gathers-pace">Strathfield</a><a href="/news/lavish-strathfield-offering-sells-for-record-6-8-million-as-inner-west-prestige-gathers-pace"> offering set a suburb record</a> (featured picture above) at $6.8 million through Joseph Georges, of George Ellis &amp; Co for a house with over 1,000 square metres internally, with garaging for seven cars, a pool and tennis court.
APM has listed some seven other recent record sales from <a href="/news">Bella Vista</a> in the north to <a href="/news">Oyster Bay</a> in the south.
"The Sydney market continues to meet every challenge over autumn and remains on record breaking pace for the number of listings, the number of sales and naturally the value of property sold at autumn auctions," Wilson said,
Last weekend produced another strong result for the local market with a clearance rate of 81.5% – the eighth consecutive weekend rate at or above 80% this year on they initial rests, although the revised figures after more results have settled around 77%.
"The average (initial) weekend rate this year at 82.5% is clearly higher than the 78.6% averaged over the final eight weeks of the last year’s spring-summer market and unsurprisingly well ahead of the 71.1% averaged over the same eight weekends a year ago," Wilson said.
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jchancellor-FAypfDUnLy

Some 790 weekend auctions, then the pre-Easter fortnight of 900 plus Sydney auction offerings

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Recently news filtered through that Sydney-based <a href="http://www.ashemorgan.com.au/">AsheMorgan</a> had <a href="http://www.theaustralian.com.au/business/property/docklands-sale-citys-biggest-in-seven-years/story-fn9656lz-1226857431660#">acquired Harbour Town and the Medibank Ice House Ice complex</a> within Waterfront City from <a href="http://www.ingrealestate.com.au/">ING Real Estate</a>. The $150m sale of the 40,000sqm centre follows the disposal of the Melbourne Star observation wheel to its Japanese builders and the sale of Waterfront City's only water fronted parcel to <a href="http://www.mab.com.au/">MAB</a> who are developing <a href="http://www.newquaypromenade.com.au/home">NewQuay Promenade</a>.

These asset disposals seem a clear sign that ING Real Estate are looking to slowly but surely exit the precinct and absolve themselves of any further responsibility within the area. They currently retain ownership (for the time being at least) of the the Costco building, the multi-level car park and an adjacent undeveloped tract of land. The question which must now be posed is - "where to now for the trouble plagued precinct?"

From the moment of its conception, Waterfront City has struggled with an identity crisis of sorts; it's part entertainment precinct and part shopping precinct with no real unifying theme. Bearing that in mind today's piece constitutes the first part of a series of articles looking at ways of improving the look and usability of the precinct.

<h2>Rebranding/Change of name</h2>

With the single stretch of water frontage now controlled by MAB (see render below) it would appear an opportune time to reconsider the precinct's name and branding strategy in addition to erasing the negativity associated with the precinct.

<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/NewQuay%20Promenade.jpg" rel="gallery-all" title="NewQuay Promenade. © MAB"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/NewQuay%20Promenade.jpg?itok=V-VRoDDs" title="NewQuay Promenade. © MAB" width="580"></a>

Now this is probably best left to the marketing types but let's just go with something like North Dock. I'll be honest I didn't expend a whole lot of mental power in conceiving the name but I think it's not half bad. Feel free to suggest your own.

<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/northdock.jpg" rel="gallery-all" title="North Dock."><img alt="" class="image-article-full-width-580px" height="171" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/northdock.jpg?itok=2fnpsA8C" title="North Dock." width="580"></a>

<h2>Improving the first impression</h2>

When entering Harbour Town either after disembarking from a tram or crossing Docklands Drive, visitors to the precinct are confronted with a bland and sterile entry point defined by cheap finishes over what should be a gateway building. Introducing a green wall to soften the harshness of the facade and employing an operable timber screen both for resident privacy and visual interest would do wonders for a comparatively small outlay.

Signage identifying the precinct awaits within the central median strip, with new greenery also helping to remould first impressions for visitors crossing Docklands Drive from NewQuay Promenade.

<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/WFC%20Gateway_EDIT_0.jpg" rel="gallery-all" title="Refurbished entry to Harbour Town © Laurence Dragomir"><img alt="" class="image-article-full-width-580px" height="347" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/WFC%20Gateway_EDIT_0.jpg?itok=pyn9W4Xx" title="Refurbished entry to Harbour Town © Laurence Dragomir" width="580"></a>

<h2>Taking a cue from Merchant Street</h2>

Over at Victoria Harbour Lend Lease are in the process of <a href="http://www.victoriaharbour.com.au/news-and-events/news-and-events/news-degrees-of-change" target="_blank">upgrading Merchant Street</a> and have enlisted the help of renowned hospitality architects Six Degrees.

<blockquote>
"Changing things up is also part of Six Degrees’ approach to the project more broadly. Its aim is to achieve the mixture of venues and shopfronts you would see in any high street in Melbourne or, indeed, in any high street anywhere in the world. “In your usual high street … you’ve got evolution of 100 years – you’ve got all sorts of canopies, verandas, free-standing cantilevers and so on,” says Healy.

“We want to bring in that idea of variety and diversity. This is important at the level of scale. We needed to introduce a finer grain, so we decided to ‘chop’ and make tenancies into two and three … but we are trying to make it somewhat architecturally consistent per tenancy.”
</blockquote>

<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/MerchantStreetOverview.jpg" rel="gallery-all" title="Merchant Street revamp. © Six Degrees"><img alt="" class="image-article-full-width-580px" height="191" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/MerchantStreetOverview.jpg?itok=wLqVDh6M" title="Merchant Street revamp. © Six Degrees" width="580"></a>

While Merchant Street presents a much smaller challenge than any overhaul of Harbour Town, a similar strategy could be employed incrementally with a variety of architects and designers chosen. The focus on a greater mixture of uses, architecture styles and in particular activating the upper level concourse should be at the forefront when trying to lift/design the current venue out of the doldrums.

The introduction of maritime materials and architecture on the remaining undeveloped roof tops is a possibility - topped with gabled roofs perhaps mimicking the existing Central Pier sheds and similar to what is proposed at Wharf Precinct within Victoria Harbour

<h2>(Car) Park²</h2>

Visible from the Melbourne Star and once proposed to house the Docklands Ice Centre atop, the Waterfront City multi-level car park is presently a wasted site. With previous proposals for an apartment complex along it's western elevation yet to see the light of day, I believe it's worth considering some alternative uses for the site, in particular the expansive rooftop.

A perfect place for a park, maybe? And why not throw in a community 'greenhouse' on top as well?

<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/waterfront%20city%20park.jpg" rel="gallery-all" title="Rejuvenated Car Park and park with 'greenhouse' on top. © Laurence Dragomir"><img alt="" class="image-article-full-width-580px" height="299" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/waterfront%20city%20park.jpg?itok=SwAru233" title="Rejuvenated Car Park and park with 'greenhouse' on top. © Laurence Dragomir" width="580"></a>

<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/waterfront%20city%20park%20%2B%20greenhouse.jpg" rel="gallery-all" title="Car Park rooftop. © Laurence Dragomir"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/waterfront%20city%20park%20%2B%20greenhouse.jpg?itok=EQ_aaHD5" title="Car Park rooftop. © Laurence Dragomir" width="580"></a>

What do you think should be done to improve Waterfront City? Or what would you like to see?

Leave your comments below and stay tuned for part two focusing on the Medibank Ice House and Costco, to follow soon.
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Laurence Dragomir

What to do with Waterfront City? (Part One)

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Whether or not there is any, erm, value, in the concept of daily property values, RP Data's Daily Home Value Index undeniably creates a great deal of opportunity for nerds to play around with charts, and I, for one, am grateful for that.
Until just a couple of days ago the RP Data index was showing national property price gains for March of a staggering 2.3% which, if it were to be sustained, would represent the greatest monthly gain on record for RP Data in Australian capital cities, representing further validation that monetary policy works on dwelling prices.
Over the past year, the home values by city, have increased by 10.51%.
<div class="separator"><img src="/images/2014/03/27/wargent%20march%2027%20one.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator">This is probably easier to see in a bar chart of year-on-year price growth by city.</div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2014/03/27/wargent%20march%2027%20two.jpg" alt=""></div>
Brisbane and Adelaide are now showing some gains in 2014 but, perhaps unsurprisingly, it is Sydney and Melbourne that are really driving values higher.
From what I've heard from Queenslanders who are in the market it appears likely that Brisbane will begin to show some decent gains in the near future.
For 2014 year to date, Sydney prices are up by 3.74% and up by 2.13% in March so far alone.
<img src="/images/2014/03/27/wargent%20march%2027%20three.jpg" alt="">
Meanwhile Melbourne's chart finally seems to have moderated a little, but even so, prices are up by an outlandish 5.67% in 2014 and are still up by some 2.54% in the month of March so far.
<div class="separator"><img src="/images/2014/03/27/wargent%20march%2027%20four.jpg" alt="" style="line-height: 1.3em;"></div>
Viewpoint?
Is this all important? 
Well, I'm not a huge believer in the idea of daily home values due to the obvious limitations on capturing and processing data, but these figures are certainly important in one sense.
If nothing else, the headlines that record or near-record monthly price gains will  doubtless generate and which will be reported next week can themselves fuel a herd mentality.
Moreover, history has shown that where asset markets get away from central banks they can take on something of a life of their own.
The Reserve Bank will be watching all this with great care, of course.
Indeed, the RBA talked a lot about housing today, it's confidence instrumental in sending the dollar all the way up to a four month high of 92 cents.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
RBA sees financial stability<a href="https://petewargent.blogspot.com.au/2014/03/rba-sees-financial-stability"></a>
I've made the point a few times that when it comes to monetary policy and other regulatory actions it matters rather less what people say on chat forums and rather more what the Reserve Bank of Australia (RBA) and APRA say, since ultimately they are the bodies tasked with making the key decisions.
While plenty of people disagree with the RBA, a couple of hours spent reading yesterday's <a href="https://www.rba.gov.au/publications/fsr/2014/mar/pdf/0314.pdf" target="_blank">Financial Stability review</a> should tell you how comprehensively the central bank assesses risk.
Fortunately, I spent the two hours so you don't have to.
The four points you're probably most interested in:
1- Banking sector
The Australian banking industry emerged from the financial crisis relatively unscathed, but events elsewhere showed that if ever there was a time to bolster capital requirements and shore up risk, it is surely now. The RBA reported that the banking sector got stronger in 2013 - asset performance is improving and bad and doubtful debt charges declined. Having increased from essentially nil in 2003, bank's non-performing loans are now declining as households enjoy very low interest rates. Businesses too, are finding the terrain a little easier than they were during the financial crisis, and bank loan books look much healthier for that. 
<div class="separator"><img src="https://4.bp.blogspot.com/-GwA78rGVzU8/UzNDqjKiPEI/AAAAAAAAMGs/ipFt4p2e95s/s1600/1+NPL.jpg" width="320" height="280"></div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-eW-JgsQCkFs/UzNDqsbQtZI/AAAAAAAAMGo/3uKq9bWVyIw/s1600/1+banks+npa.jpg" width="315" height="320"></div>
 
<div class="separator"><img src="https://3.bp.blogspot.com/-TsOy3JEZudo/UzNDqx36pBI/AAAAAAAAMG4/DTVMR1T0ZEk/s1600/1+NPloans.jpg" width="320" height="276"></div>
The non-performing share of banks’ domestic housing loan portfolios fell over the six months to December 2013, to 0.6% down from a peak of 0.9% in mid 2011, helped by low interest rates and tighter mortgage lending since 2008. 
The ratio of impaired housing loans has fallen recent quarters with rising dwelling prices helping banks to deal with their troubled assets and being able to report a reduction in mortgages-in-possession. Those are the bare numbers, but a bit of context here might be helpful:
<img src="https://3.bp.blogspot.com/-D9C8xPMieYY/UzND31yNDdI/AAAAAAAAMHA/bDZZZI42R-g/s1600/Loans+world.jpg" width="320" height="283">
We have just been through the greatest financial crisis since the Great Depression, so non-performing loans of 0.6% is a very sound result.
2 - Lending standards and bank balance sheets
Low-doc lending continues to represent less than 1% of loan approvals, while the share of loan approvals with loan-to-valuation ratios (LVRs) greater than or equal to 90% has been fairly steady since 2011 at around 13%.
The share of banks’ funding sourced from domestic deposits has increased from about 40% in 2008  to around 57% currently. That's a good thing. Australia's major banks (classified by APRA as "D-SIBS) have bolstered their capital and funding structures since the financial crisis and are in fact already well-placed to meet APRA's more stringent Basel III capital requirements which will kick in in 2016.
<img src="https://2.bp.blogspot.com/-e9_mJwMYvKk/UzNIDRDNhWI/AAAAAAAAMH0/wYD9Pu_9Qks/s1600/1+Banks+teir+capital.jpg" width="320" height="290">
A key point here: Banks are generating imperiously strong, comfortably double-digit returns on equity (ROE) and colossal net profits after tax (e.g. even after tax Commbank cleared a net profit of $7.8 billion in their 2013 financial year - before tax the figure was closer to $11 billion). Surely then, herein lies a golden opportunity to enforce the strengthening of capital ratios further through earnings retention, reducing dividend payments or scaling back share market purchases in order to offer dividend reinvestment plans (DRPs).
Of course, bank execs will want to continue chasing the golden egg of 15% ROEs through reinvestment and greater expansion of their loan books, but if our major lenders are to receive an implicit government guarantee then, stuff it, make them shore up their capital ratios, I say. It would be better for everyone over the long-term.
<div>3 - Household finances</div>
The overall financial position of the household sector was little changed in 2013 and indicators of financial stress remain low, reported the RBA.
Households continued to manage their finances with greater prudence than a decade ago, household wealth continued to increase, the saving ratio was within its range of recent years and, importantly, households continued to pay down mortgages much more quickly than required.
The household saving ratio remained within its range of recent years, at about 10%.
<img src="https://2.bp.blogspot.com/-UQvmR-p1Z10/UzNEEnQ07NI/AAAAAAAAMHI/gLk6L3O6T0w/s1600/2+Financial+stress.jpg" width="320" height="262"> 
<div class="separator"><img src="https://4.bp.blogspot.com/-fjYcTDIgY4Y/UzNEE7TBr9I/AAAAAAAAMHM/-ZYfXIBv9dc/s1600/2+indebtedness.jpg" width="320" height="275"></div>
The proportion of disposable income required to meet interest payments on household debt has now stabilised over the past six months, having previously declined in line with the fall in mortgage interest rates in recent years. 
<div>The good news is that households have used lower interest rates to continue paying down their mortgages much more quickly than required.</div>
<div> </div>
<div>Remarkably, the aggregate mortgage buffer has risen to almost 15% of outstanding balances, which is equivalent to two full years of total scheduled repayments at current interest rates. </div>
<div> </div>
<div>The RBA notes that therefore households have considerable scope to continue to meet their debt obligations even in the event of temporary unemployment. </div>
<div> </div>
<div>Overall, aggregate indicators of financial stress remain low.</div>
4 - Housing market
As for the housing market, the RBA noted that lending to self-managed super funds (SMSFs) is now being tightened up and remains only a small part of the market, as do purchases by non-residents.
<div>Housing loan approvals are picking up across Australia, but are really firing in New South Wales (read Sydney).<img src="https://3.bp.blogspot.com/-seh8bfGiY6s/UzNEPiGkQZI/AAAAAAAAMHk/Uf0h69Oz_4E/s1600/3+loans+approved.jpg" width="275" height="320"> <div><img src="https://2.bp.blogspot.com/-Vp3RfCTGdA4/UzNEPmuESqI/AAAAAAAAMHg/7kfG7WD0kDs/s1600/3+SYDMLB.jpg" width="320" height="264"></div>
 <div><img src="https://1.bp.blogspot.com/-1Z35t1qQdiI/UzNEE_oxS_I/AAAAAAAAMHc/9ld1-R-BiWc/s1600/2+Savings.jpg"></div>
The financial crisis seems to have scared households away from the share markets and towards housing according to surveys. Note how sentiment towards equities hit lows just when share market valuations became cheap and more attractive!</div>
The RBA noted that "the pick-up in investor activity in the housing market does not appear to pose near-term risks to financial stability" but "developments will continue to be monitored closely for signs of excessive speculation and riskier lending practices". The Reserve Bank is very keen to ensure that lending standards in Australia remain high.
Summary
There is much more besides which you can read <a href="https://www.rba.gov.au/publications/fsr/2014/mar/pdf/0314.pdf" target="_blank">here</a>, but that is the flavour of the report.
Lending standards will be monitored but on the face of it the RBA appears to be more focused on aggregate loan impairments and indicators of financial stress than dwelling prices. 
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pwargent-M4siyDbqQY

Is March the biggest month in Australian property history?

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This week RP Data is expecting 1,320 auctions in Melbourne. This weekend last year was during Easter so does not provide a useful comparison.
This is the third week in a row with over 1,000 auctions and that is unprecedented in Melbourne. The highest volume of auctions is in <a href="/news">Reservoir</a> with 26 followed by <a href="/news">St Kilda</a> with 23 and <a href="/news">Armadale</a> with 21.
All current indicators show signs of a market that is picking up strength with volumes increasing, days on market falling and vendor discounting reducing.
Over the last week the measure of days on market for a house to sell at private sale has dropped from 37 to 35 days in Melbourne. Strengthening demand also leads to vendors at private sale discounting from their advertised price to a lessor degree – this has dropped from -5.5 to -5.4% over the last week.
These market indicators can prove to be volatile on a weekly basis but the trend is clear and is likely to be confirmed in increased values when the RP Data home price index is released in the next week.
Key data
<ul>
<li>Clearance rate week ending 23 March: 69.4%</li>
<li>Melbourne auctions expected week ending 30 March: 1,320</li>
<li>Melbourne private sales time on market week ending 23 March: 35 days (houses)</li>
<li>Melbourne vendor discounting market week ending 23 March: -5.4% (houses)</li>
<li>Listings being prepared for market are 13.1% higher in month ending 23 March</li>
</ul>
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Unprecedented run of 1,000 plus auction weekends: RP Data's Melbourne auction preview

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Australian property prices are set to even out after last year’s growth in Sydney and Melbourne, according to new data from Residex, the research arm of online real estate portal Onthehouse.
Onthehouse claims that the Sydney market has reached its peak after 15% median price growth in the 12 months to February 2014. In the same period, median house prices in Melbourne rose in value by 10% while Perth’s prices grew by 9.25%, according to Residex. Weakening consumer sentiment and affordability issues are expected to contribute to a drop off in dwellings price growth over the next five years.
John Edwards, the consulting analyst for Onthehouse and founder of Residex, commented that wage growth had not kept pace with property price growth.
“While property values experienced strong growth in the last quarter of 2013, wages have not grown at the same rate. Sydney’s property market, which is a leading indicator for the national market, has consistently outperformed wages growth which continues to push property out of reach of buyers,” Edwards said.
“There is a natural limit on the maximum value of an asset at any point in time and that is the value at which the masses deem it to be unaffordable. At that point, competition for the asset diminishes. In Sydney, the trend data suggests that house prices are reaching their peak value in dollar terms for this period of growth.”
Residex cites the Westpac Melbourne Institute Index of Consumer Sentiment as a factor in its prediction. The index is at its lowest level since May last year, having fallen 10.9% from its peak in November 2013. It has also noted the same institute’s Unemployment Expectations measure, which has risen by 5.5% since May 2013, and is now sitting 13.6% above its November level. According to Residex, the unemployment index is at levels surpassed only by recession period readings during 2008-09, the early 1990s and early 1980s.
Onthehouse predicts that Sydney’s annual price growth will slow to 4% over the next five years, with Melbourne at 4% and Perth at 3%.
 
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Property prices to stabilise: Onthehouse

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With Channel 9’s The Block: Fans v Faves art deco apartments taking off, everyone’s talking about warehouse conversions. We run through five of the best on the market.
<a href="https://www.realestate.com.au/property-house-vic-port+melbourne-116434871" target="_blank">263 Rouse Street, Port Melbourne, Victoria</a>
 <img src="/images/2014/03/27/port%20melbourne%20march%2027%20one.jpg" alt="">
It’s no surprise that Melbourne makes an almost clean sweep of the warehouse conversion market – as a former industrial hub that saw most of its major manufacturers move away from the inner city decades ago, there are now plenty of beautiful historic buildings to occupy.
 <img src="/images/2014/03/27/port%20melbourne%20march%2027%20three.jpg" alt="">
This three bedroom apartment in <a href="/news">Port Melbourne</a> with $1.2 million plus expectations bears all the hallmarks of a great warehouse conversion – open plan living spaces, interesting scaling and plenty of timber, steel and exposed brick. Not to mention a huge cast iron fireplace. The median unit price in Port Melbourne was $660,500 in February, while the median house price is $897,500, according to RP Data.
<img src="/images/2014/03/27/port%20melbourne%20march%2027%20two.jpg" alt=""> 
Article continues on next page. Please click below.
 
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<a href="https://www.realestate.com.au/property-house-vic-richmond-116223743" target="_blank">30 Bendigo Street Richmond </a>
<img src="/images/2014/03/27/main%203.jpg" width="460" height="345">
This particular newly renovated apartment began its life in 1908 as the Wertheim Piano Factory. It then became the home of Heinz Australia, before it was passed over to GTV9, 1957. The former Channel 9 studios once housed a radio station, a concert band, a junior ballet, a full time chorus and an orchestra.
<img src="/images/2014/03/27/image5.jpg" width="460" height="345">
This two bedroom, two bathroom conversion includes a large decking area, a rare amenity for inner city warehouse living. The grand arched windows flood the open plan living space with light. It’s selling from $1.095 million; <a href="/news">Richmond</a>'s median house price is $1,041,000. The median sales price of Richmond units in February was $485,000.
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<a href="https://www.realestate.com.au/property-apartment-vic-collingwood-116386907" target="_blank">18/120 Cambridge Street, Collingwood, Victoria</a>
<img src="/images/2014/03/27/main%204.jpg" width="460" height="345">
The former Foy &amp; Gibson spinning mills have been converted into a series of apartments. The building was built in 1895 and designed by <a href="/news">Collingwood</a> councillor William Pitt. This two bedroom apartment’s signature is its distinctive bay windows and soaring ceilings.
<img src="/images/2014/03/27/image4.jpg" width="460" height="345">
The vast space is divided by ornate wooden panelled walls and screens, giving the one-time factory space a unique character. The spinning mills apartment is on the market with expectations of $800-880,000. Collingwood's median unit price in February was $388,000, and its median house price for the month was $889,000.
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<a href="https://www.realestate.com.au/property-apartment-nsw-surry+hills-116485443" target="_blank">Surry Hills, New South Wales</a>
<img src="/images/2014/03/27/image4%201.jpg" width="460" height="345">
Developers Cleveland &amp; Co are currently accepting enquiries for two and three bedroom apartments off the plan in this Surry Hill industrial site. The history of the two adjoining warehouses goes back to 1889, and the two buildings with art deco and Victorian heritage features are set to house 39 apartments. SJB Australia, who have plenty of experience will injecting new life into heritage buildings, will be the project’s architects, with interiors by Burley Katon Halliday.
<img src="/images/2014/03/27/image6.jpg" width="460" height="345">
According to the listing, most apartments will have a northerly aspect, meaning there’ll be plenty of light bouncing around the spaces, with three to four metre high ceilings. The site's <a href="/news">Surry Hills</a> location is thus far undisclosed. Median unit prices in the suburb sat at $658,500 for February.
Article continues on next page. Please click below.
 
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<a href="https://www.realestate.com.au/property-townhouse-vic-north+melbourne-116299547" target="_blank">1/2 Atkin Street, North Melbourne, Victoria</a>
<img src="/images/2014/03/27/image3%202.jpg" width="460" height="345">
At 150 years old, this <a href="/news">North Melbourne</a> building has had a long life as a Masonic hall. It has now been converted into apartments, with this multi-level residence selling from $600,000. The listing describes the apartment as having a “riot” of materials, shapes and textures, and it’s hard to disagree. With Baltic pine, Kauri pine and oak timber flooring, the apartment also features exposed brick, original 1855 bluestone walls and exposed steel.
<img src="/images/2014/03/27/main%205.jpg" width="460" height="345">
The conversion was undertaken by Re:CONSTRUCTION, a firm that specialises in warehouse conversions. The two bedroom residence also includes a raw-walled balcony and a solar power system. The apartment is on the market for $600-660,000. The median unit sales price in North Melbourne were at $472,500 for February, while the median house price was $910,000.
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The five best warehouse conversions on the market

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The former observatory home of Professor Georg von Nuemayer - a noted astronomer and polar explorer - has been listed for sale in South Yarra.
He undertook major astronomical work from the basement in the Domain Road property during his residency in the 1860s.
Historic sketches of the pendulum room where the work was conducted (such as the one below) appear in then contemporaneous publications. 
<img src="/images/2014/03/27/south-yarra-heritage-march-27-one.jpg" alt="">
Source: Royal Society of Victoria
Located on a corner block, the 203 square metre property is set on one of Kings Domain's finest streets.
The four bedroom home has several living areas plus terrace courtyard and double garage.
The 119 Domain Road, South Yarra property has been listed by <a href="https://www.kayburton.com.au/property/119-domain-road-south-yarra" target="_blank">Kay &amp; Burton agents </a><a href="https://www.kayburton.com.au/property/119-domain-road-south-yarra" target="_blank">Gowan Stubbings and Emma Bloom</a> who expect between $2.75 million and $3 million at its April 5 auction.
Von Nuemayer, who lived between 1826 and 1909, was the director of the Flagstaff Observatory, and former member, councillor, Vice President and honorary life member of the Royal Society of Victoria.
There now sits a plaque on the property commemorating the significance of the home set on the Hope Street corner, formerly known as Montpelier Terrace/Place.   
Born in Palatinate, Germany Neumayer was education in Munich, becoming interested in polar exploration, terrestrial magnetism, oceanography, navigation, and nautical astronomy. After he made a voyage to South America, he arrived at Sydney in 1852. After trying his fortune on the goldfields, Neumayer gave lectures on navigation to seamen, and then spent time in Tasmania at the observatory.
After he arrived in Melbourne in January 1857, he secured government funding for an interim observatory, with the instruments provided by the King of Bavaria, at what is now Flagstaff Gardens. The Botanic Gardens observatory opened in 1862.
Von Neumayer was a member of the exploration committee of the Royal Society which organised the 1860 Burke &amp; Wills Expedition joining it between Swan Hill and Bilbarka. The South Yarra property was his residence around 1863 and 1864.
In 1895, von Neumayer had established the German Commission for South Polar Exploration, which culminated in the <a href="https://en.wikipedia.org/wiki/First_German_Antarctica_Expedition" title="First German Antarctica Expedition" style="line-height: 1.3em;"></a>1901 so-called Gauss expedition.
Neumayer died in 1909 in Germany, his name given to the German Polar Research Station in Antarctica, "Neumayer Station".
The front two rooms and the hall on ground floor and first floor, basement and attic room have been assessed as original dating back to its 1850's construction. One of the first residents was John Moore from the Tasmanian Fire Insurance company.
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Astronomer Professor Georg von Nuemayer's 1860s South Yarra home listing

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The credentials of design blogger Lucy Feagins will be on show as the Brunswick home she shares with partner Gordon Johnson goes to auction this weekend.
The Victorian residence at <a href="https://www.nelsonalexander.com.au/properties/buying/brunswick-12-nash-street#.UzDAMqiSx3h" target="_blank">12 Nash Street</a> has a single fronted cottage with one bedroom and one bathroom, with another one bedroom, one bathroom studio sitting at the back of the property.
Feagin and Johnson purchased the cottage in late 2007 for $335,000. According to <a href="https://thedesignfiles.net/2014/03/melbourne-home-lucy-feagins-and-gordon-johnson/" target="_blank">a post</a> on The Design Files, Feagins lived with her parents until the age of 27 to save for the purchase. The home, selling through Peter Stephens and Luke Chisholm of Nelson Alexander, is now listed with expectations of $640,000 to $690,000.
Photos of the property from 2007 show just how much work the couple have put into the home over the past six years.
<img src="/images/2014/03/25/11898978_2.JPG" width="460" height="306">
Above: The home's former living area. Below: The current kitchen and dining area.
<img src="/images/2014/03/25/6789295fo.jpg" width="460" height="306">
As Feagins details in her blog, the extensive interior renovations included replacing the kitchen and bathroom and installing a toilet in the main house. She describes the construction of the house’s outdoor studio 18 months ago as the completion of her “dream project.”
The work of several young Australian artists is featured in the home, including pieces by Emily Ferretti, Kirra Jamison and Lucas Grogan.
Feagins launched <a href="https://thedesignfiles.net/2014/03/melbourne-home-lucy-feagins-and-gordon-johnson/" target="_blank">The Design Files </a>blog in 2008, covering architecture and interiors, arts, crafts, graphic design and illustration. 
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Lucy Feagins of The Designs Files to sell Brunswick cottage

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Sorrell, the $35.4 million Hindmarsh Development and ACT government joint venture, was unveiled yesterday.
The three building complex, built by Hindmarsh Construction, comprises 132 apartments. Construction of the development was completed earlier this month. Sorrell is part of the ACT government’s efforts to revitalise the former Burnie Housing precinct.
<img src="/images/2014/03/27/lyons%20march%2027%202.jpg" alt="">
According to the ACT manager of Hindmarsh Development Brett Smith, the residential project exemplifies the benefits of working with the public sector.
“Sorell stands as a model of collaboration between Hindmarsh and the ACT government and the positive response to the project vindicates the joint venture’s vision to bring premium quality residential development to the precinct. We are proud to be associated with a project that has breathed new life and vitality into Lyons,” said Smith. The development sold 93 apartments off the plan immediately after its launch in March 2011.
Sorrell was designed by Antoniades Architects, with interiors by Hindmarsh. The complex also includes a 15 metre gas heated swimming pool and a furnished outdoor barbecue area.
<img src="/images/2014/03/27/lyons%20march%2027%203.jpg" alt="">
Hindmarsh has been operating in Canberra for 30 years. Its other projects include Altitude Apartments, which was completed last year.
The company, which has completed projects with value in excess of $2 billion, recently commenced construction of the Creswell Residences in Campbell, which comprises 52 apartments. It is also planning a redevelopment of the RSL national office, which is set to include a new national office for the RSL in addition to 174 apartments.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>. 
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Completed Sorrell Apartments unveiled in Lyons, ACT

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In May 2011, all new homes were required to be built to meet a nationally implemented 6 Star standard energy rating. However, what constitutes a 6 Star rating differs from state to state and this has provoked nationwide challenges.
The Building Thermal Performance Assessment system was introduced by the Building Code of Australia, and is enforced by state governments. According to the Building Commission of Victoria, a home with a 6 Star rating are projected to use 24% less energy for heating and cooling than 5 Star rated homes.
Although the ratings are applied nationally, the requirements for a six star rating are not universal. The system is designed to be flexible, and is “performance based rather than prescriptive”. As the Star rating system is designed to tackle thermal performance, it is site specific – a home’s orientation on a block (whether it faces north, south, east or west) or its surrounding climate can influence the design factors required to meet a 6 Star rating. In the Northern Territory, for example, homes in certain areas require a breezeway for airflow, while homes in colder climates may not.
According to Natalie O’Shea, a designer at building franchise Hotondo Homes: “It’s challenging to design homes on a national level as each state has its own particular standards and differing requirements.”
“One of the biggest things affecting the energy rating of a home which is consistent across the country is the orientation of the block [of land] and the home,” said O’Shea.
“When you have the right design on the right block there are minimal additions that need to be made. The home will naturally stay warmer in winter and cooler in summer.
“Materials are getting better with their thermal qualities, but extra insulation, double glazed windows and wider eaves may be necessary to add in order to achieve the desired energy rating, but they come at an additional cost.”
A popular home design by Hotondo Homes achieved a 6 Star rating for all orientations in Hobart, Melbourne, Canberra, Adelaide and Perth, according to a 2012 report by Sustainability House, contracted by the Department Climate Change and Energy Efficiency.
The home also achieved a 6 Star rating in three orientations in Sydney, two orientations in Brisbane but only a single orientation in Darwin, despite consistent floor plans (pictured below) and building materials.
 <img src="/images/2014/03/26/hotondo%20floorplans.jpg" width="460" height="521">
 
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