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 Urban Development Institute of Australia's 2014 State of the Land Report points to significant supply problems across much of the country and warns that while it might not be a 'front page' hot media topic of the day, "we've got a problem".
Quoting Minister for Social Services Kevin Andrews from November last year, the report, launched today, explains that more private dwellings need to be built to cater for a growing population.
The report found that while lot prices have remained stable or fallen slightly in recent years, the price of land when looked at on a per square metre basis has continued to rise. The overall fall is due to declining lot sizes, according to the report. The average median lot size across the five largest capital cities is 423 square metres, down 8% over the year and down 29% on 10 years previously. Sydney saw a 16% drop over 2012/2013.
The average median lot price across the capitals is $213,000 - down 5% over the year. Despite this short-term fall, it is up 78% over the last 10 years. In Sydney, the median price for a new landlord fell $34,000 over the year period, to $247,500 and the city retains its position as the most expensive for land across the country.
"This suggests that current lot prices may be close to the absolute upper limit of what new home buyers are able to afford," the report explains.
Supply of land lots was found by the UDIA to be continually constrained in "most jurisdictions" by high charges levied on new developments and the inadequate provision of infrastructure, as well as delays in rezoning, planning and approvals.
Interestingly, Sydney experienced the largest turnaround over 2013 out of the cities examined, with a significant increase of supply. Despite this, it still suffers from the highest infrastructure charges, a difficult planning system and increasingly high land costs. Meanwhile, Perth was found to have the worst performance.
Currently, the average median price of land said to be paid by new home buyers is $504 per square metre. That is a 3% increase over the year and 148% up over a 10 year period. UDIA national president, Cameron Shephard, said that governments are failing to address the key barriers to supply. “Inadequate investment in urban infrastructure, slow planning and approvals systems, and high taxes and charges are strangling the supply of land for new housing, severely damaging housing affordability," he said. “UDIA is concerned that housing has fallen off the agenda for governments around the country. The 2014 UDIA State of the Land Report shows that there are still major problems with land supply and housing affordability across our largest cities, and that governments need to take urgent action,” Shephard explained.
See over page for a city by city breakdown of performance and for the UDIA's suggestions for federal, state and local government intervention.
<hr class="system-pagebreak">
<h2>City by city performance</h2>
Adelaide
Progress has been made with stamp duty exemptions and construction grants, introduction of private certification for code compliant developments, structure plans for growth areas and rezonings. Fairly balanced land market.
Potential trouble area: Implementation of the infrastructure agreements.
Brisbane
Improvements in planning processes under State Planning Policy introduction, creation of single state assessment and referral agency and creating a number of Priority Development Areas.
Potential trouble area: The undersupply of serviced lots and inability to respond to changes in market demand.
Melbourne
Lot supply has increased, market is well supplied and affordability is improving.
Potential trouble area: Slow approvals and rezoning.
Perth
Affordability and lot supply did well, with stable prices.
Potential trouble area: Increasing delays in planning approval system, increasing land taxes and subdivision application fees, infill and infrastructure provision planning worsens.
Sydney
Lot production increasing, lots somewhat cheaper due to smaller lots being created.
Potential trouble area: Structural planning reforms have yet to appear and strata reform has been delayed.
<h2>UDIA's suggestions for the federal government:</h2>
Providing additional funding for investment in new urban infrastructure, in order to unlock land.
Auditing Commonwealth land holdings to identify surplus land, and where suitable, make it available for new housing development.
Assisting state governments with removing stamp duty on property and replacing it with more efficient forms of taxation.
<h2>UDIA's suggestions for state and local governments:</h2>
Undertake major planning system reform, to increase the supply of urban land and reduce delays and uncertainty associated with zoning, planning and approvals processes.
Reduce up front charges and levies on new housing by favouring the recovery of costs over long time frames, rather than up front.
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jduke-EHk3XBmHkn

Significant dwelling supply problems across country: UDIA report

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Housing affordability is an emotive topic across the country, and it comes as little surprise that the majority of borrowers surveyed currently believe that getting a foot on the property ladder is harder now than it was for the previous generation.
Interestingly, the Genworth Homebuyer Confidence Index saw a 1.6 point drop from September 2013 to March 2014, which they note was partially to a decline in first home buyer confidence, as well as overall cost of living pressures for those currently holding mortgages.
Home buyers experiencing or expecting mortgage stress did, however, largely drive the decline in the confidence index, said Genworth Australia's chief commercial officer, Bridget Sakr.
“Of those surveyed, 49% cited the rising cost of living as the key driver of mortgage stress," said Sakr.
“The high cost of living has remained the number one cause of mortgage stress for homeowners since September 2011,” she said. Of those surveyed, four in 10 make overpayments to their mortgage.
Similarly, the proportion of those using more than 50% of their income to service this debt dropped from 28% to 25%.
The first home buyer component dipped from 85.0 in September to 82.3 in March, driven by fears around unemployment.
“While 71% of first home buyers consider the dream of home ownership to be realistic, this group continues to struggle to save for a deposit,” she said.
A third of prospective home buyers noted it would take them four years or longer to save a 20% deposit, while 60% of all respondents said it would take four years.
Sakr also noted that nearly two thirds of all borrowers believe first home buyers have it tougher than the previous generation did, with 86% expressing a willingness to help their children buy property, but significantly fewer noting they were in a financial position to be able to do so.
“The struggle to enter the property market may also be exacerbated by any future dwelling price growth,” said Sakr.
“This ongoing challenge for prospective first home buyers highlights the value of low deposit options such as Lenders Mortgage Insurance which can help people enter the property market sooner,” she said.
The index surveyed more than 2,000 consumers and analysed the proportion of monthly income expected to be used to service debts, repayment history and expectations for the nest 12 months, as well as their beliefs about home buying.
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Majority believe it is harder to get into property now than for previous generation: Genworth

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Potts Point's latest offering sale has been the penthouse of the publican Chris Crawley after receivers PPB Advisory took possession.
Crawley developed The Georgian on Macleay Street in 2010, retaining the three-bedroom 680 square metre triplex penthouse with pool. 
Jason Boon and Andrew Hoggett of <a href="https://www.randw.com.au/1408774/" target="_blank">Richardson and Wrench Elizabeth Bay</a> had been telling inspectees that it was set<a href="https://www.realestate.com.au/property-apartment-nsw-potts+point-116039307" target="_blank"> to fetch above $10 million.</a> 
It's annual strata levy is just short of $20,000.
Expressions of interest closed on the 14th March, with the sold stickers posted yesterday.
The Georgian three-level penthouse came with views stretching from the city skyline to The Heads.
It was featured in the recent <a href="/news/plenty-of-blue-sky-with-12-sydney-penthouses-at-10-million-or-more-which-one-to-buy">top 10 Sydney prestige penthouses</a> He Said/She Said list.
Crawley was allowed to demolish an historic villa to undertake the project.
Former liquor merchant John Piven Large paid a reputed $15 million in 2012 for the Pomeroy, Potts Point penthouse of Bob Ell.
The previous highest sale was $8.85 million in 2011 when the Sutton car dealing family bought a 624 square metre penthouse, one of two in the Rockwall complex.
A $20 million off the plan offering in the Ashington project failed to proceed when the project collapsed, with the subsequent Investa project splitting the top floor into two apartments.
 
 
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jchancellor-FAypfDUnLy

The Georgian penthouse sells in highest Potts Point apartment sale since 2012

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Two developments in Melbourne's north-west are seeing a sales uptick, with Maribyrnong-located Horizon Drive more than 50% sold and Mirvac's Ascot Vale Enclave seeing their latest release achieve a 100% sales rate in a number of hours.
<a href="https://www.enclave.mirvac.com/home" target="_blank">Enclave</a>, the 10.423 hectare residential community (pictured above and below), released a total of 20 homes in the latest marketing approach. All of the properties achieved a sale, bringing the new total sales revenue for the project to $88,595,000.
<img src="/images/2014/03/26/4.jpg" alt="">
John Carfi, Mirvac CEO of residential, noted that these sales included Doncaster Street terraces, sitting adjacent to the site, and the sell-out continues a string of good results for the project that launched in April 2013. The development is a joint venture between Mirvac and Gresham.
“This result validates that buyers continue to recognise this unique opportunity being presented in the heart of Melbourne," said Carfi of the site that is seven kilometres out from the CBD. 
The site will include 200 dwellings on completion, with a mixture of different land blocks, and nearby to parkland, a gold course, sporting oval and retail services. 
Construction of the first stage of land and housing has begun, set to complete late-2014, with 35 land lots settled and with first residents expected to move in by July.
The next release of land and townhouse will be in the middle of this year.
Meanwhile, in next door's Maribyrnong, <a href="https://www.horizondrive.com.au" target="_blank" style="line-height: 1.3em;">Horizon Drive</a> (pictured below) is a new residential subdivision that was re-launched in the second half of last year after being taken over by ICG. It is also seeing an uptick in sales with half of the 32 properties sold.
<img src="/images/2014/03/26/maribynong%20march%2026%202.jpg" alt="">
Near to redeveloped Highpoint shopping centre, the site includes two- and three- bedroom townhouses with their own garages and two-bathrooms (a main and an ensuite). Buyers looking for larger residences can join two of the two-bedroom townhouses to form a four-bedroom home for under $1.2 million.
The homes are designed by Rothelowman.
The latest release was of 121 square metre townhouses of two-bedroom and two-bathrooms from $595,000 upwards.
<img src="/images/2014/03/26/maribynong%20march%2026%203.jpg" alt="">
<img src="/images/2014/03/26/maribynong%20march%2026%204.jpg" alt="">
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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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Melbourne's north-western developments seeing strong sales

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The Mosman weekend top seller fetched $5.7 million. But the marketing has suggested $6 million plus hopes.
But it represented only a small increase on its past two sales.
The five bedroom, four bathroom house had previously sold in 2008 at $5.25 million, reflecting 1.5% annual price growth during the past six years.
And it had been renovated in the meantime.
<img src="/images/2014/03/25/mosman-march-25-one.jpg" alt="">
<img src="/images/2014/03/25/mosman-march-25-two.jpg" alt="">
<img src="/images/2014/03/25/mosman-march-25-three.jpg" alt="">
<img src="/images/2014/03/25/mosman-march-25-four.jpg" alt="">
Photos: 18 Moruben Road, Mosman from its 2008 listing, prior to renovation
With views of Balmoral, The Heads and Manly, it had also sold at $5.1 million in 2007.
The five-bedroom house on 590 square metres at 18 Moruben Road fetched $5.7 million through Belle Property at weekend auction. 
<a href="/news">RP Data puts Mosman's median house price currently at $2.3 million</a>, just a tad under its $2.36 million median record achieved in 2012.
The $2.3 million median is however matching the peak achieved prior to the onsite of the global financial crisis.
It dipped to as low as $1.9 million in 2009.
After its 2012 recovery, it dipped to around $2.05 million.
Mosman agent Robert Simeon wrote today that the <a href="/expert-insights/buying/the-property-numbers-that-really-count-mosman-a-good-indicator-of-property-market-strength">Mosman house market was easily one of the most observed on the property catwalk</a>.
He presented some interesting stats on the sales volumes from Australian Property Monitors. 
<ul>
<li>2006 Number of Houses Sold 366 for a total value of $932,663,130</li>
<li>2007 Number of Houses Sold 373 for a total value of $1,130,325,667</li>
<li>2008 Number of Houses Sold 247 for a total value of $702,311,112 – GFC</li>
<li>2009 Number of Houses Sold 278 for a total value of $732,986,251 – GFC</li>
<li>2010 Number of Houses Sold 317 for a total value of $900,728,149 – GFC</li>
<li>2011 Number of Houses Sold 270 for a total value of $777,349,292</li>
<li>2012 Number of Houses Sold 284 for a total value of $789,400,700</li>
<li>2013 Number of Houses Sold 366 for a total value of $1,022,005,721*</li>
</ul>
 
Simeon noted the 2013 figure will rise significantly higher given a number of top end properties sold late in 2013 with long settlement periods.
 
 
 
The Moruben Road house topped RP Data's list of the week's top 10 sales. There were just the two entrants from Melbourne.
Top 10 sales of the week ending March 23, according to RP Data:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_moruben_road_mosman_nsw_2088/4493552" target="_blank">18 Moruben Road, Mosman, NSW, 2088</a>, five-bedroom house, sold on March 22 by Belle Property Mosman for $5.7 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21_wallis_avenue_strathfield_nsw_2135/6496668" target="_blank">21 Wallis Avenue, Strathfield, NSW, 2135</a>, six-bedroom house, sold prior to auction on March 22 by Georges Ellis &amp; Co for $4.525 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24_beaver_street_malvern_east_vic_3145/11585509" target="_blank">24 Beaver Street, Malvern East, VIC, 3145</a>, five-bedroom house, sold at auction on March 22 by Jellis Craig Bennison Mackinnon for $4.1 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/67_georges_river_crescent_oyster_bay_nsw_2225/5258407" target="_blank">67 Georges River Crescent, Oyster Bay, NSW, 2225</a>, five-bedroom house, sold at auction on March 18 by Highland Property Agents for $3.45 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/233_o'sullivan_road_bellevue_hill_nsw_2023/1369906" target="_blank">233 O'Sullivan Road, Bellevue Hill, NSW, 2023</a>, five-bedroom house, sold on March 19 by Richardson &amp; Wrench Double Bay for $3.18 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/14_allenby_road_canterbury_vic_3126/10253153" target="_blank">14 Allenby Road, Canterbury, VIC, 3126</a>, five-bedroom house, sold at auction on March 22 by Kay &amp; Burton for $3.125 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_blake_street_rose_bay_nsw_2029/5915064" target="_blank">7 Blake Street, Rose Bay, NSW, 2029</a>, four-bedroom house, sold on March 18 by Ray White Double Bay for $3.1 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/5/32a_awaba_street_mosman_nsw_2088/4476065" target="_blank">5/32A Awaba Street, Mosman, NSW, 2088</a>, three-bedroom house, sold at auction on March 22 by Croll Real Estate for $3.065 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/10_spofforth_street_cremorne_nsw_2090/2002561" target="_blank">10 Spofforth Street, Cremorne, NSW, 2090</a>, five-bedroom house, sold on March 21 by Belle Property Neutral Bay Neutral Bay for $3 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/34d_latimer_road_bellevue_hill_nsw_2023/16760271" target="_blank">34D Latimer Road, Bellevue Hill, NSW, 2023</a>, four-bedroom house, sold prior to auction on March 17 by L J Levi Real Estate for $2.9 million
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Back at pre-GFC median highs, but Mosman top seller can only muster 1.5% annual price growth 

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Redeveloping parklands in the Gold Coast's Southport will be one of the most significant and largest urban renewal projects ever taken in the area, as part of the 2018 Commonwealth Games.
Premier Campbell Newman confirmed that an agreement had been made with Grocon to be the preferred developer of the 29 hectare site.
{qtube vid:=SkqNi2pr5jQ}
"The Commonwealth Games Village will provide essential services and accommodation for 6,500 athletes and officials in Games-mode and will be one of the Games’ most significant legacy projects," said Newman.
"This project will inject an estimated $500 million into the local economy over the next five years and will generate more than 1,500 jobs during its construction phase."
Newman released the Commonwealth Games Village Masterplan yesterday and the design includes more than 1,200 dwellings, including 1,171 one- and two-bedroom apartments and 82 townhouses, across more than 30 new buildings. These buildings will range from single to eight levels in height.
This community is expected to be retained after the Commonwealth Games.
"The developer’s approach is to create a tailored institutional investment vehicle to hold and rent the village dwellings after GC2018, with a gradual sell down over time. Approximately 12 hectares of land will be held by the state for future health and knowledge use," the <a href="https://www.edq.qld.gov.au/resources/plan/commonwealth-games-village/commonwealth-games-village-master-plan.pdf%20" target="_blank">masterplan details</a>.
Other features include seven hectares of total green and open space and gardens, including a community park, over 6,000 square metres retail precinct and 12 hectares for future health and knowledge development.
<img src="/images/2014/03/25/gold-coast-march-25-breakout.jpg" alt="">
Minister for Tourism, Small Business, Events and the Commonwealth Games, Jann Stuckey, said that it will be iconic after the games themselves have passed.
"It will create a great civic space that will no doubt become a focal point as the Gold Coast is propelled onto the international stage," said Stuckey.
"After the Games, Parklands will provide significant infrastructure as it becomes home to people and new businesses as part of a modern, mixed-used community which will include residential and a new business hub for health and knowledge, commercial and retail development."
Meanwhile, Grocon CEO, Carolyn Viney, said that they are thrilled to be part of the redevelopment and delivering value for the Gold Coast.
"Grocon’s design captures the essence of the sub-tropical environment of Queensland’s south coast with special attention being paid to sunlight, shading, natural air flows and water," said Viney.
"The urban and landscape design approach adopts the history and unique characteristics of the Gold Coast and its hinterland, intertwined with the role that water has played, and will continue to play, in shaping the Parklands site."
The masterplan has been submitted for development approval, with construction suggested to begin by early-2015.
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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Gold Coast Commonwealth Games Village urban renewal project underway

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The recent public launch of Green House, a development in Waterloo from JPR Architects, Hecker Guthrie and Myles Baldwin Design saw 55% of the properties snapped up on the day.
The launch, on 15 March, followed an earlier pre-launch and showcased 161 apartments with one, two and three bedroom offerings each with private garden and terrace at 20 McEvoy Street, Waterloo.
The development, a $120 million creation of four low-rise buildings from Icon Co, is near to the $8 billion urban renewal project for Green Square and is one of a number of developments changing the nature of Sydney.
<img src="/images/2014/03/25/waterloo-march-25-one.jpg" alt="">
With a garden focus, Garden House includes architecture that is inspired by the outdoors, as well as water links externally and planted walkways with porte-cocheres.
JPR Architects brought a contemporary theme to the project, while Myles Baldwin Design took control of the garden plantings, paths, bridges and waterway features, with natural light being a focus.
The internal design, from Hecker Guthrie, focuses on paneled feature walls with timber shelves, timber flooring and planter boxes that are integrated into the construction.
<img src="/images/2014/03/25/waterloo-march-25-two.jpg" alt="">
There is a corner café also located on the site, and the entire development includes barbecue facilities, pergolas, outdoor lounge areas and rooftop terraces.
In total, 67 of the apartments are one-bedroom, 79 are two-bedroom, and tgere are 15 three-bedrooms at 52, 72 and 107 square metres respectively.
One bedroom homes can be purchased from $550,000, with two bedroom available from $750,000. Meanwhile, three bedroom apartments are selling from $1,250,000.
<img src="/images/2014/03/25/waterloo-march-25-three.jpg" alt="">
With 70 apartments already having sold at launch, including those from the earlier VIP launch for <a href="https://www.garden-house.com.au/" target="_blank">Garden House</a>, it’s notable that the majority of buyers had resided within 10 kilometres of the development already.
Selling agent, John Meagher, managing director 360 Property Group, said that the sales were mainly to owner occupiers.
“There was an excellent blend of sales from one-bedrooms through to penthouse offerings and we were delighted with the results. What really engaged potential purchasers was the unique private garden entries to all apartments. This was a major drawcard. In addition, Hecker Gutherie’s interior design was exceptionally well received,” said Meagher.
Garden House is expected to be completed for July to October 2016.
Icon Co is currently still developing <a href="https://botaniclanecove.com.au" target="_blank">The Botanic, in Sydney’s Lane Cove</a>, which expects to be completed in October 2014.
<img src="/images/2014/03/25/waterloo-march-25-four.jpg" alt="">
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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More than half of stock sells at big-name Sydney Garden House launch

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Once the very definition of a boom town, Broken Hill is a historic community pulling out all the stops to fight sluggish buyer interest.
Located in far west outback New South Wales, Broken Hill has a population of 18,517 as of 2011, with a total of 9,570 dwellings.
The border town’s economy has a rich heritage. The Broken Hill Proprietary Company incorporated in 1885, operating a silver and lead and zinc mine in the town. After merging with Dutch mining company Billiton, BHP Billiton is now arguably the biggest mining company in the world.
However, like other mining towns, the economy of Broken Hill is vulnerable to changes in commodity prices and the performance of the mining sector. In recent years, the residents of Broken Hill have seen the effects of the resources downturn, with CBH Resources sacking a third of its 150-odd strong workforce at Broken Hill’s Rasp Mine in September last year. The end of NSW’s ban on uranium mining may offer some economic growth for the region, but the closure Uranium One’s Honeymoon mine, 75 kilometres north-west of Broken Hill, may temper expectations.
The 2011 census showed that Broken Hill had the greatest population decline of anywhere in Australia for the five years prior; with the population down 120 people from 2006. At the time of the census, unemployment in the outback town was recorded at 8.3%, compared with the national average of 5.3%.
According to RP Data, the current median sales price of a home in Broken Hill in $120,000. Median prices last peaked in the region in 2008, at $135,000. Price comparisons with neighbouring areas are largely redundant – the nearby Silverton has fewer than 100 inhabitants, while towns of similar populations are hours away.
The majority of Broken Hill’s dwellings are stand-alone single storey houses. Housing research firm Residex provides a two bedroom, one bedroom single storey home, such as this one at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-116269135" target="_blank">639 Lane Street</a> (pictured below), as a typical property for the town. 
<img src="/images/2014/03/24/main%201.jpg" width="456" height="343">
This five bedroom heritage listed home at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-116496223" target="_blank">181 Sulphate Street</a> (pictured below) is currently listed at $270,000, more than double the median price for the town.
<img src="/images/2014/03/24/image3.jpg" width="460" height="345">
Broken Hill’s residents, businesses and local council are hoping to turn things around for the slowing outback economy. In September last year, Broken Hill real estate agent Clifford Wren spoke to the ABC, calling on the local and state governments to offload unused land to developers for free to boost the local economy and drive population growth.
The town is increasingly marketing itself as a tourist destination in a bid to reduce its exposure to the mining sector. In 2010, Broken Hill launched the Broken Hill Strategic Tourism Plan for 2010 to 2010. Strategies include the development of a film studio and the push to make Broken Hill the first city to receive a National Heritage Listing, to acknowledge its historical and touristic value.
Meanwhile, mining activity continues in the city. In 2013, a $13m upgraded rail system was launched, providing Cristal Mining (CMA) with the ability to transport its products from Broken Hill to Port Adelaide, giving it global access. Cristal Mining employs 45 Broken Hill residents. Perilya Limited also continues to operate a zinc, lead and silver mine in Broken Hill.
However, it is yet to be seen whether the town’s efforts to revamp its economy will have long-term, sustainable effects on its property market. 
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jrichardson-uRX5hFdKfN

Suburb spotlight: Efforts to revamp Broken Hill yet to strike it lucky

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It was with great interest that I read the minutes of the Reserve Bank of Australia’s (RBA) March meeting where the Head Teller Glenn Stevens noted somewhat nonchalantly that housing market conditions “do not pose a near-term risk” and that <a href="/expert-insights/rba-relaxed-about-the-dollar-and-investment">there is “no immediate cause for concern”</a> with regard to debt levels.
No mention of those ‘bubble and boom’ headlines that dictate newspapers although it should be noted that both Fairfax and News Ltd prosper very well financially by enticing vendors to get on the market and spend, spend, spend in their respective newspaper real estate platforms.
There are no doubts that Australia’s real estate markets, aside from being right up there as being the most expensive and unaffordable, are right up there for glamour appeal as well as outstanding performance. The RBA is closely monitoring how the many niche markets are performing and would have a wry smile that the cash rate has more than done its job to the extent that the next move (probably in August) will be up. Already we are seeing <a href="/expert-insights/finance/economists-predict-interest-rates-will-hit-4-25-by-end-of-2015-but-are-these-projections-likely">predictions of 4.50% by mid–2015</a>.
<blockquote>
Historically, when the Mosman housing market breaks the one billion dollar mark in a calendar year it is the strongest sign that the markets are doing exceptionally well.
</blockquote>
The Mosman house market is easily one of the most observed on the property catwalk and the RBA would be most happy how it is performing when comparing results from 2006 to 2013.
<ul>
<li>2006 Number of Houses Sold 366 for a total value of $932,663,130</li>
<li>2007 Number of Houses Sold 373 for a total value of $1,130,325,667</li>
<li>2008 Number of Houses Sold 247 for a total value of $702,311,112 – GFC</li>
<li>2009 Number of Houses Sold 278 for a total value of $732,986,251 – GFC</li>
<li>2010 Number of Houses Sold 317 for a total value of $900,728,149 – GFC</li>
<li>2011 Number of Houses Sold 270 for a total value of $777,349,292</li>
<li>2012 Number of Houses Sold 284 for a total value of $789,400,700</li>
<li>2013 Number of Houses Sold 366 for a total value of $1,022,005,721*</li>
</ul>
*This figure will rise significantly higher given a number of top end properties sold late in 2013 with long settlement periods.
Source: Australian Property Monitors
Historically, when the Mosman housing market breaks the one billion dollar mark in a calendar year it is the strongest sign that the markets are doing exceptionally well.
Prior to the GFC in 2007 the Mosman market was performing at its highest level so it should come as little surprise that in 2013 it was close to 2007 levels and 2014 should see the markets hit well in excess of $1.2 billion in turnover.
Another interesting point is that Mosman has approximately 4,800 houses so when the market is on it trades at close to 10% per annum and when the market is down it drops down to 5%. So when you look at how the property markets are performing currently it is <a href="https://www.businessspectator.com.au/article/2014/3/19/economy/rba-steps-towards-housing-policy-highwire" target="_blank">very clear that now the RBA will step in</a> – attempting to steer consumer sentiment into calmer waters. 
Housing accounts for over 60% of household wealth and this is now valued at over $5 trillion – which is more than three times nominal GDP. This is where it gets very difficult for the RBA given our banks have a massive exposure to our housing markets, and state governments on the other hand are high dependent stamp duty recipients.
<div class="graph-image">
<div><img src="https://www.alankohler.com.au/sites/default/files/styles/ak_graph/public/kohlersgraphs/2014/Mar/wisest-place.png?itok=EbfZxT6n" alt="" width="296" height="286"></div>
</div>
Source: Westpac/Melbourne Institute/<a href="https://www.alankohler.com.au/" target="_blank" title="Alan Kohler Graphs" style="line-height: 1.3em;">Alan Kohler Graphs</a>
Yesterday the government announced its Terms of Reference for the Inquiry into foreign investment into Australian real estate markets. I thought Digital Finance Analytics raised some very interesting points on where this Inquiry already fails given the focus is on the Foreign Investment Review Board – when many of the overseas buyers simply skip the FIRB process and transfer funds to an Australian resident who then just purchases the property in their name. When the party who transfers the funds obtains Australian residency they then pay the stamp duty to transfer the subject property into their name. This rort has been going on for years and again this Inquiry has missed this loophole completely.
This leads me to think that quite possibly they don’t even know this is happening.
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robertsimeon-hRNTwJyXkQ

The property numbers that really count: Mosman a good indicator of property market strength

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Toby Johnstone wrote in the Sydney Morning Herald back in January 2014 that "investors' love affair with Sydney's property market could be over, with experts anticipating a slowdown in property speculation." 
"All the pointers are there showing that the Sydney investor market has overshot its fundamentals," the article quoted Andrew Wilson, the senior economist at Australian Property Monitors.
In the same piece, RP Data senior research analyst Cameron Kusher agreed, saying, "investors thinking of getting into the market had missed the boat. Whether you are chasing capital growth or rental return, neither look particularly strong at the moment certainly not as strong as 12 to 18 months ago. Given that, I do think that we will see a pullback in investor activity this year."
So what do you think? 
Recently I came across a graph (pictured below) that tracked both property growth over a long period of time but also identified yearly rates of change in property values. What's interesting about the graph below is that it shows where we are in the property cycle. 
 <img src="/images/stories/2014/03/14/chan%20march%2014%20one.png" alt="">
Source: Jon Giaan
The blue line shows property values but the orange line shows the actual change in property values year on year, and this is much more relevant in terms of determining when to get into the market and whether the market has run out of steam. 
You can see clearly that the market goes through many years with increasing annual growth rates and then reducing annual growth rates until finally several years of increasing negative annual growth rates before repeating itself. 
<blockquote>
There are several more years of increasing yearly growth rates before the yearly growth rates start to taper off. 
</blockquote>
The green line shows the current trend is upward in nature and, if history this will go on for a few years before the growth rate tapers off year on year until negative growth. 
You can see the positive yearly growth years are much more than the yearly negative growth years and that is why the blue line shows the property market trending upwards over the longer term. 
This also demonstrates that there are several more years of increasing yearly growth rates before the yearly growth rates start to taper off. 
In other words, if last year’s growth was 9.14%, and if the graph is right, we should get double digit growth rates this year and the next year an even higher rate. After that the yearly growth rates, whilst still positive, will be a lower rate year on year until it becomes negative. 
The reason for this is because of human nature. 
People are broken into four groups:
<ol>
<li>Early adopters</li>
<li>Middle adopters</li>
<li>Late adopters </li>
<li>Never adopters </li>
</ol>
The majority of people are middle to late adopters and they tend to create the momentum that is typical of property cycles. 
When the conditions first begin to change for property the early adopters get in first but the majority of people sit back waiting for more certainty and more people to invest. Hence the saying "the majority of people are like sheep".
In the meanwhile, if conditions change early adopters are also the first to get out (sometimes prematurely) but the middle adopters are still just getting in and this creates the momentum that shows up in the graphs as continuing forward momentum. 
This is than added to by the late adopters who are now just getting in, thus providing the "braking" effect to a plummeting of the annual growth rate. This gives the wave pattern we see in orange. 
If you believe the historic property cycle will repeat itself, then this graph demonstrates that the momentum has started to build, the middle adopters are still getting in the market and we are not as yet at the top of the yearly growth rate cycle.
Whilst there are no guarantees, the graph seems to indicate we are still on the upward path and we have not yet started to experience reducing growth rates which would normally run for several more years before we experience negative yearly growth rates. 
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