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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Auction volumes remain strong this week with 1,076 expected in Melbourne and 1,154 across Victoria. This is the first time there has been consecutive weekends with over 1,000 auctions in March.
The healthy demand that is present in the auction market is also apparent in the private sales market.
Days on market for houses in Melbourne dropped again this week to 37 from 42 last week. This is consistent with last year’s trend which saw days on market contract from the mid 40’s to 39 in December.
Vendor discounting also dropped again to -5.5% last week. Time on market and vendor discounting metrics are important as they provide a measure of demand in the private sale market.
Buyers will find increased choice over the next few weeks as the listings being prepared for sale were 10% higher in seasonally adjusted terms compared to last year. As this is common to both private and auction property market segments, it will provide a greater test for the market than a weekend of 1,000 auctions.
The highest volume of auctions is in Reservoir where 26 are listed, followed by 23 in Brighton and 20 in Richmond.
Key data 
<ul>
<li>Clearance rate week ending 16 March: 67%</li>
<li>Melbourne auctions expected week ending 23 March: 1,076</li>
<li>Melbourne private sales time on market week ending 16 March: 37 days (houses)</li>
<li>Melbourne vendor discounting market week ending 16 March: -5.5% (houses)</li>
<li>Listings being prepared for market are 10% higher in month ending 16 March</li>
</ul>
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rlarocca-zWhvjay44N

First time ever for three consecutive 1,000 plus auction weekends: RP Data's Melbourne weekend auction preview

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Hi Margaret,
My husband and I brought a property in Emerald, Queensland in 2008 and resided there while he was working in the town as a paramedic. After we moved on we decided to rent the property out. We understand that with the economic downturn, we have been patiently waiting for things to improve but we're beginning to wonder if and when they ever will. 
It's frustrating to hear comments that property owners are seeing great capital returns while we are just treading water. I regularly log on to CQ News to see what is happening in Emerald and it all seems very negative. I have met people who still have family over there and they're saying a lot of projects are still going ahead. My question is do we still hang in there or cut our losses? I know Emerald has not been picked as a hotspot in the past for nothing. 
Regards,
Yvette
Margaret's answer on the next page. Please click below. 
<hr class="system-pagebreak">
Hi Yvette,
One of the inherent dangers of following ‘hotspot’ recommendations (even those I make myself) is that these recommendations can only be based on the available data at the time.  No one has a crystal ball and when we use such data to suggest hotspots we are doing so using the data available at the time.
One of the things I have always tried to do is to suggest a risk rating alongside any hotspot recommendation.  This is because certain types of areas have greater downside risks than others should the hotspot not turn out to be a hotspot at all.
For example, a hotspot which is in a residential area, say a suburb of a capital city, with a diversity of employment, lowering unemployment rates, rising population and improving median household income is one which will either boom soon, rise nicely over the longer term or not fulfil boom expectations, but rather experience the average kind of growth we would expect from a stable market. A buy in such an area carries little risk as you either get a great return, or an OK one.  Investors with lower appetites for risk and a need to preserve capital can buy in these areas confidently knowing that the downside risk is small.
At the opposite end of this scale is a hotspot in a single industry town, such as a mining town.  It will fulfil boom expectations as long as the economy does not turn or an outside influence does not conspire to damage its potential.  As the chance for this is fairly high, only investors who can face losses and who have a big appetite for risk should buy in such areas.
At present, the future of Emerald is impossible to predict.  This is because it is an area which suffers extreme impact from economic circumstances and, as confident as we all feel right now, these remain at high risk of a second downturn.  The information you are reading now about the area is current now, but could equally change as soon as the economy changes and become positive again.
For you, you must consider your entire financial circumstances and ask yourself whether you can withstand the downside risk – will short or medium term values losses impact on your ability to leverage into more property (do you have enough equity to see you through any potential value losses?) and do you have the personal cash flows required to support this property if there is a significant fall in rental returns?  If not, then selling now might be the best choice – although if you do sell, you cannot later look back and bemoan any growth you subsequently missed.  You must instead realise you made the decision that was right for you at the time.  Considering all of these things is something that the person helping you to buy this property (if any) should have done with you in the first place.
If you think you can withstand any storms, Emerald, like all mining towns, is likely to see good times ahead again, although I cannot predict when, so there’s no way of knowing how long this present situation will impact you. Perhaps buy more property in more stable areas so that you don’t watch and focus on Emerald and continue to keep your finger on the pulse of all mining markets.
Regards,
Margaret 
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mlomas-KC9MUPZ6Ca

My hotspot investment is treading water: Should I hang in there or cut my losses?

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Angophora House, the recently completed Avalon house designed by Richard Leplastrier, has been sold for $1.6 million. It had been listed by Andew Campbell, the builder who has worked on a number of Leplastrier's designs.
It was marketed by the agency, <a href="https://www.modernhouse.co" target="_blank">Modern House Estate Agents</a>, as "a piece of fine cabinetry for humans".
<img src="/images/2014/03/20/avalon-march-20-one.jpg" alt="">
The Bellevue Avenue house was set on the edge of the extended grove of Angophoras.
The house had six pavilions on an 808-square-metre site with views towards Bangally Headland.
<img src="/images/2014/03/20/avalon-march-20-two.jpg" alt="">
The four bedroom, two bathroom house with 139 square metres of internal space had been worked on full-time for three years and three months until its completion in February 2013.
The design actually stems back to 2003.
<img src="/images/2014/03/20/avalon-march-20-five.jpg" alt="">
Some six months was spent in the ground with the help of master builder John Simpson with the timber, being recycled Jarrah coming from the Freemantle Wool Store, comprising some nine carriage loads delivered by Andrew Brodie of Australian Architectural Hardwoods, Kempsey.
RP Data gives the median house price as $2.32 million.
<div id="property-notes">
<img src="/images/2014/03/20/avalon-march-20-four.jpg" alt="">
Images courtesy of Michael Nicholson Photography
</div>
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jchancellor-FAypfDUnLy

Bespoke Angophora House, Avalon, designed by Richard Leplastrier fetches $1.6 million

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At Property Observer, there are a number of questions from investors that we get time and time again. We've compiled a list of our eight most common queries.
Do I need a buyer’s agent?
A buyer's agent is a licensed professional who can cover the entirety or just a single stage of the buying process for you – from searching for properties, assessing its value and negotiating the purchase for you. A good buyer’s agent will ensure you don’t spend too much on a property, and can handle the hazards of auction bidding on your behalf.
The best buyer's agents can save you time and money, and will have specialised knowledge and resources (like databases and contacts) that you won’t have access to as a buyer.
There are many arguments for and against using a buyer's agent, but what it really comes down to, as with any part of investment, is cost versus benefit.
According to the <a href="https://rebaa.com.au/" target="_blank">Real Estate Buyers Agents Association of Australia</a>, a buyer's agent should cost you roughly 1.5-3% (plus GST) of the property in question’s purchase price (similar to what a seller's agent will charge). “Negotiation only” buyer's agent services are typically around 1% of purchase price plus GST, and for if you want to hire a buyer's agent just to represent you at an auction, you should be looking at a fee of $500-$1000 for each auction they attend, with a potential 0.25-0.5% of purchase price fee added on.
If you aren’t confident with negotiating auctions or aren’t as familiar with the buying process as you’d like to be, a buyer's agent can bring a lot of value to your transaction.
What proportion of my income should be taken up by mortgage repayments?
This is a question that comes up a lot and really depends on your individual budget constraints. For example, the more frugal among us may have the capacity to have a greater proportion of their income taken up by mortgage repayments, while still maintaining a decent amount of savings. Others may have ongoing costs like children, chronic illness or travel, which will reduce their ability to contribute so much to their property.
As a rough guide, housing affordability stress is generally defined as spending more than 30% of one’s income on housing payments, so you want to stay well under that threshold, especially if you are a low income earner. Most mortgage providers have calculators for potential mortgage payments – here’s one from <a href="https://www.commbank.com.au/personal/home-loans/loan-calculator" target="_blank">the Commonwealth Bank.</a>
A good budgeting exercise that will help you determine whether you can afford mortgage repayments is to have your expected mortgage repayments deducted into a savings account for a year. It will help you gauge what is manageable for you, and by the end of the year, you might have enough to put down on a deposit.
How do I pick the best capital growth areas?
This is a very contentious question, with no simple answer. Property Observer contributor <a href="https://www.propertyobserver.com.au/terry-ryder" target="_blank">Terry Ryder</a> specialises in identifying capital growth “hotspots” around the country, and many others have devoted their careers to doing the same. Decent transport amenities, sustainable economic development, and nearby employment hubs are all good signs.
However, all the experts agree: keep your eyes on the data. Rental yield movement is important to keep an eye on, as is an area’s median sales price trend – but remember, context is everything. The metric should only be applied as a rough guide, and only if you’re looking at a “median” house in that area.
When should I sell?
Again, there is no simple answer to this question – though if there were one, it would be “before everyone else.” In the best case scenario, you want to take advantage of rising demand in your area before the other home owners get the same idea and start pushing up supply, which will bring prices back down.
Charles Tarbey, the owner and managing director of Century21 Australasia, says that sellers need to be keeping an eye out for the signs of buyer interest well before they are intending to sell to avoid competition.
“If you’re thinking of selling, there’s a time to launch. And that time to launch is not when you’re hearing the talk out there about the markets going well.
“If there are lots of “For Sale” signs up, you’ve got competition. When you open up the newspapers or go and see the same properties in there, week after week after week being advertised, it’s another indication that you’re going to have a lot of competition.
“So why would you then launch your property into a market place where when there’s all this competition out there? You’re going to have to negotiate downwards.”
What make better investment properties, units or houses?
Again, a contentious question. The answer will depend on whether you’re looking for cash flow in the form of rental yields, or capital growth. If you’re purchasing a unit, bear in mind body corporate fees, potential difficulties in renovating your property, and your state’s strata laws.
For those who are thinking of purchasing a house, you again will have to consider development restrictions such as heritage overlays. There may also be additional costs to tending to the home’s exterior and garden.
When considering the numbers before purchasing your property, make sure you’re looking at the relevant data – that means median house prices or yields if you’re looking at a house, or unit prices or yields if you’re considering a unit. Within a single suburb, these figures will vary greatly.
And remember – don’t confuse what you want and what makes a good investment. A dwelling type that you wouldn’t prefer to live in may make a great investment.
How much should I spend on renovations?
The cost of your renovations should be weighed up against how much profit you think your property will make at sale. Some commentators recommend spending 5-10% of your property’s current value on a renovation, but where you distribute this cost will make the real difference. In general, most agree that kitchens and bathroom renovations will contribute the most additional value when renovating your home.
Try talking to agents in your area to look at similar properties in your area which have modernised interiors or comparable renovations before you start any works – this will give you an idea of the value potential of your renovations.
Also, don’t forget that labour and materials aren’t your only costs. If you’re planning to undertake significant renovations, you may need to find temporary accommodation for you and your family – something that can cost a decent pile of cash.
Factor in all the costs and undertake a profitability study on your home before you even think about picking up your tools.
What sorts of properties make the best investments? 
For capital growth, Tarbey says that investors should look at the top of the first home buyers’ market, or the bottom of the second home buyers’ market.
“The most important thing about buying real estate is picking the mark that you want to go. And for me that mark has always been at the top end of the first home buyer's range or at the bottom end of the second home buyer’s range,” says Tarbey.
“In other words, you’re putting yourself at a category that is not actually at the bottom where it’s less than desirable to everybody, and it’s not at the top of the second where some people can’t afford.
“At the top of the second home buyer [market], you’ve obviously got better homes with better facilities. And obviously those facilities are not often good when you’re renting the properties out. For example, swimming pools et cetera become a burden to a landlord, rather than an advantage, because they have to be maintained. In normal tenancy terms, generally, those features won’t be maintained to the same level that an owner might.
“In the middle of that price range, you’ve got two levels of people that might be interested in buying the property should you wish to sell it. So you’ve not priced yourself in a category where you’ve probably got the highest amount of buyers that you’ll ever get.”
Should I sell at auction or private sale? 
According to investment writer <a href="/expert-insights/buying/choosing-a-method-of-sale-auction-vs-private-treaty">Karin Derkley</a>, there are a number of factors that should influence a vendor’s method of sale. These include:
The norm in your suburb: go for what is the most common method of sale for your area
Whether the property has unique or special qualities: an auction may be for you
Whether your area is booming: an auction may be the right setting to take advantage of buyer anxiety
How quickly you need to sell your property: If you want to get it off your hands quickly, an auction might be the best choice, but if you want to take the time to consider offers, a private sale may suit better.
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jrichardson-uRX5hFdKfN

Eight common investor questions answered

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Melbourne-based developer GURNER has acquired a 5,000 square metre site in Brisbane’s Fortitude Valley, in the centre of Brunswick Street, Alfred Street and Barry Parade, in their first foray interstate.
The site is to be a $600 million mixed use development landmark, with hopes of rejuvenating the area.
Award-winning architects Elenberg Fraser will take on the project and the site will include a number of towers, totaling more than 730 apartments, a 100 apartment 4.5 star hotel, a 5,000 square metre real estate precinct, 3,000 square meteres of resident-only resort style club and landscaped area, designed by landscape architects 360 who also undertook work at Sydney’s The Ivy.
A U-shaped infinity pool, private bars, BBQ areas, outdoor cinema, sun deck, gym, library and formal dining rooms that residents can book will all be within the site.
The development application was submitted last week for the proposal.
The decision to move into Brisbane was due to the growing interest across the Australian market for the inner-city apartments in the area, something Property Observer has long noted regarding investors. GURNER was searching for a Brisbane site since early last year. 
The new site, in keeping with this philosophy, is 50 metres from the train station and 800 metres to the CBD.
GURNER has purchased three sites in Melbourne in the last three months alone, including 24-28 Stanley Street, Collingwood, 107 Cambridge Street, Collingwood and 74 Eastern Road, South Melbourne. These will be $30 million, $55 million and $45 million respectively, with the latest development to be their most significant.
The development company has been around since 2012, after Tum Gurner’s involvement with Pan Urban and Urban Inc.
Gurner said that these sites represent an opportunity to cater for population growth.
“With the development site market being so hot at the moment it is making acquisitions very difficult for local private companies. We are thrilled to have been able to secure four incredible sites that will offer our clients a very unique home or investment opportunities that are beautifully designed with great local amenity,” he said.
Stage 1 of the mixed use project is expected for launch mid-2014, hanging on Brisbane City Council’s approval of the DA.
“The inner city Brisbane market is very attractive for investors and owner-occupiers, with very low vacancy rates, great affordability and increasing rental yields. Brisbane prices are now around 40% lower than comparable apartments in Sydney and over 20% cheaper than Melbourne, while rents are not far behind. Brisbane has not had the amazing run that Melbourne and Sydney have had over the past 12 to 24 months. But we are very confident that the time has come for the Brisbane market to gain momentum over the next two to five years as investors grow wary of Melbourne and Sydney’s supply and growth rates,” he said.
The sale of the largest part of the site was negotiated by Neville Jensen of Ray White Metro.
The Collongwood Stanley Street development, to be designed by Warren and Mahoney, will bring 50 apartments and retail to the market, with the Cambridge Street development, also designed by the same architects, permitted for 95 apartments and retail outlets. The South Melbourne site is being re-planned, with ideas for 65 apartments and a café, spanning eight levels, and designed by Elenberg Fraser.
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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jduke-EHk3XBmHkn

Melbourne-based GURNER submits DA for $600 million landmark Brisbane creation

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With the break in traffic due to last week’s long weekend, how did we finish up this weekend after the shaky Second Super Saturday a fortnight ago?
At 6.00pm Saturday the James Clearance Rate for Melbourne’s $1 million plus property was 66% on the 35 auctions we covered; our bidders per auction measurement was at 1.7.
What does all this mean? For us it seems the market at this point in time is probably flattening overall – meaning that prices are leveling after a staircase rise that began in October 2012 and went all through last year and into 2014.
Hold on – what does overall mean?
<blockquote>
If you look at the graphs of 2013 you will see significant overall price increases, but not in a consistently upward straight line.
</blockquote>
It means that while this is a general trend, it’s not the case in every segment. For instance, homes in Boroondara that are drawing strong Chinese interest are still going gangbusters. But the overpriced B-graders and all the C-graders, i.e. the ones needing a big reno and where the price is not quite right, are not showing the same results as they did just a few months ago.
Hold on – what does ‘probably flattening’ mean, and what is a staircase rise?
If you look back over the articles and graphs of 2013 you will see an overall significant advancement in the market i.e. price increases. But this has not occurred in a consistently upward straight line.
What has happened typically is that one month the market seems a bit flat (the landing) and the next month it has another growth spurt (the stair rise), giving the price chart over the year the look of a staircase rise.
This year we started with a stair rise, and then the markets this weekend and the one before the long weekend (1 March) have both been flattish. It’s not terrible, not a shocker – just not as bullish as before (overall) – therefore a stair landing.
Let’s see how the next two weeks go before we start to speculate as to any significant market directional change.
Next weekend has a similar middling number of $1 million plus auctions to this weekend. And then the last week in March is looking like it will be another Super Saturday or very close to it, with around 150 $1 million plus auctions scheduled in the Inner East and Bayside. Some good homes are scheduled too, so we will have a good market to base our opinions on.
Our advice to clients right now is – don’t just assume it’s a runaway auction. Make sure you turn up with 1) a bidding strategy and 2) a pass-in strategy also.
At a pass-in you need to think about how you are going to work through your thoughts if, say, you are the “winner” on the street at $1.8 million but the auctioneer says you still need to give him another, say, $300,000 at the pass-in negotiations to buy it – especially if you were the only bidder.
On the flip side, if you went to many of the auctions this weekend hoping for no interest then you would have left without a home and very disappointed.
In a flattening market you begin to see fracturing results – i.e. a disparate number of bidders and prices paid. Some are hot and some are not, which is what we feel may be the market we are moving into. But a week is a long time in the Melbourne market – so stay tuned.
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maljames-vHwm28JUAa

Melbourne top end market looks like it's flattening

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Bidding on one of Cronulla’s most admired homes, listed for auction last night after an eight month makeover, topped out on a $4.2 million bid.
Ray White Rockdale listing agent Con Economos told Property Observer there were five registered parties.
But the vendor builder Tony Bittar wants more for the the still futuristic Apollo Gate, an icon of the Sutherland Shire's waterfronts since the 1970s.
Nicknamed the Cronulla spaceship house, or the White House, it has a reputation that dates back to its completion, with its Reuben Lane design motivated by spiritual and architectural links to Mediterranean villages and with whitewashed buildings clinging to the coastlines.
It first changed hands for $185,000 in 1978 when sold by the Breen family who owned the Metropolitan Sand Company at Cronulla.
The house at <a href="https://www.raywhite.com/nsw/cronulla/1087356/" target="_blank">4-6 Cowra Place</a> has direct access to Salmon Haul Bay.
It featured in NSW Builder magazine, the official journal of the Master Builders' Association, in May 1975 (pictured below). It was built by CH &amp; CR Ellis with spiralling western red cedar ceiling.
<img src="/images/stories/2013/05/cronullamay3one.jpg" alt="cronullamay3one" width="470" height="391">
<img src="/images/stories/2013/05/cronullamay3two.jpg" alt="cronullamay3two" width="470" height="323">
<img src="/images/stories/2013/05/cronullamay3three.jpg" alt="cronullamay3three" width="470" height="343">
Reuben Lane, who died in 2012, was inspired by the work of his mentor Oscar Niemeyer, the architect of the capital city of Brazil, Brasilia.
Ray White listing agent Con Economos marketed the property as a "one-off’.
"A truly spectacular home with an unbeatable location,” said Con Economos.
The 6 Cowra Place, Cronulla property was initially marketed with  $3.5 million plus expectations having been renovated extensively since sold at $3.2 million last May.
It offers five bedrooms plus study, a double garage and two car spaces and guest quarters. There's an atrium lounge, an internal spa, and landscaped gardens. Its four bathrooms’ original tiles are sourced from the same suppliers as the Sydney Opera House.
 <img src="/images/2014/03/19/cronulla-march-17-one.jpg" alt="">
<img src="/images/2014/03/19/cronulla-march-17-two.jpg" alt="">
<img src="/images/2014/03/19/cronulla-march-17-three.jpg" alt="">
<img src="/images/2014/03/19/cronulla-march-17-four.jpg" alt="">
<img src="/images/2014/03/19/cronulla-march-17-five.jpg" alt="">
<img src="/images/2014/03/19/cronulla-march-17-six.jpg" alt="">
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Cronulla's Oscar Niemeyer inspired Apollo Gate waterfront seeking $4.2 million plus buyers

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A one-bedroom apartment in St Kilda’s The Face, which has a balcony facing on to Luna Park’s own iconic, if slightly eerie, face, is heading to auction next month.
Looking for $415,000 plus buyers the April 5th auction, at 12.30pm, sits on Acland Street and Carlisle Street.
It features built-in robes, a Euro laundry, secure one-car parking and an entertaining balcony.
<img src="/images/2014/03/19/st-kilda-march-17-three.jpg" alt="">
At 204/72 Acland Street, St Kilda, it is one of around 30 apartments, which range from 39 square metre studios to 240 square metres for three bedroom terraces. There is 450 square metres of retail at the ground level.
The building itself is four storeys, and the ARM development websites explains that the Luna Park Mr Moon face is a metaphorical link to the Carlise Street façade, based on Salvador Dali’s 1937 painting ‘Sleep’ – an image of a face on crutches.
<img src="/images/2014/03/19/dali%20sleep%20march%2017.jpg" width="460">
Photo: 'Sleep' by Salvador Dali.
<img src="/images/2014/03/19/luna%20park%20march%2017.jpg" width="460">
Photo: The front entrance to Luna Park in St Kilda, source: Wikicommons
Meanwhile, the north-east and north-west facades are based on Dali’s 1936 ‘The Anthropomorphic Cabinet’ and 1937 ‘The Burning Giraffe’.
The development was completed in 2012 by ARNO Corporation, with a $12 million value, and designed by architect Ashton Raggat McDougall (ARM).
At the time of development there was significant resistance from locals, including Port Phillip Council, to the change in streetscape due to the demolition of eatery Freasy Joe’s and four adjacent heritage buildings, however VCAT ruled in favour of the development. There were 21 initial objections.
<img src="/images/2014/03/19/st-kilda-march-17-two.jpg" alt="">
St Kilda ward councillor Karen Sait was angered by the decision at the time. "The Face might be a high-quality design, but it comes at a terrible price - the demolition of five heritage-listed buildings which are part and parcel of the area's inter-war character" Sait said, calling it an “overdevelopment”.
Despite this, VCAT said that it actually enhanced the character of St Kilda, by enhancing the flamboyance and diversity of the area.
One of the two-bedroom apartments on Stayz asks for $160 to $220 per night for holiday bookings.
<img src="/images/2014/03/19/st-kilda-march-17-foru.jpg" alt="">
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St Kilda Dali-inspired The Face apartment set for auction

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Newly released Bondi apartment development, Maison Blanc, has sold 10 of its 16 apartments, with downsizers appearing to be some of the more active buyers.
The boutique development from Fiducia Property Group and Manning Property Development is a north facing block that includes views of the Royal Sydney Golf Course to the CBD, with 180 degrees of harbour views.
<a href="https://www.maisonblanc.com.au" target="_blank">Maison Blanc</a> is located on the corner of Old South Head Road and Roe Street in <a href="/news">Bondi</a>, with a street address of 403-405 Old South Head Road.
<img src="/images/2014/03/19/bondi-march-19-six.jpg" alt="">
Completion is expected for the development by early-2015, with the remaining apartments including two-bedroom, two-bedroom plus study, and split-level penthouses, with prices from $925,000 to $1.39 million. Initially there were also one bedroom properties on offer from $650,000.
<img src="/images/2014/03/19/bondi-march-19-two.jpg" alt="">
It appears initial expectations were for a late-2014 completion.
Each has an open plan style, whitewashed interiors and a balcony or terrace access.
Associate director CBRE, residential projects, Colin Griffin, said that it’s close to Bondi Beach, a café lifestyle and coastal walks with convenience and a good location.
<img src="/images/2014/03/19/bondi-march-19-three.jpg" alt="">
Secure parking and external storage is also included.
There was a ‘VIP’ launch for the development on the 1st March 2014. The sales display is currently open for other prospective buyers.
<img src="/images/2014/03/19/bondi-march-19-four.jpg" alt="">
There are currently several Bondi and Bondi Junction developments slated for the next couple of years, including <a href="/news/pacific-bondi-beach-the-lofts-to-launch-this-weekend">prestigious The Lofts development</a>.
The slick sales website for the Mason Blanc apartments comes from Sydney-based advertising and design agency ‘Made’.
<img src="/images/2014/03/19/bondi-march-19-five.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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Boutique Bondi development Maison Blanc sells 10 of 16 apartments

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Information technology company Applabs Technologies is working on a mobile application that aims to rival established real estate search websites. Applabs Australia director Patrick Glovac talked to Property Observer about the product, called Home Open, and the Australian Securities Exchange-listed company’s plans.
Why are you launching Home Open, and why now?
The internet completely disrupted traditional media such as print. We have seen this in many sectors from real estate, the car industry, the jobs market and even to tourism. Companies such as Realestate.com.au, Carsales, Seek and Expedia now have market capitalisations greater than the traditional print media companies which they took on. For example, REA Group - $6.7 billion, Carsales - $2.8 billion.
These companies took on the traditional media outlets and took their market shares. What this has meant is that those industries are now dominated by one or two companies. In the real estate sector specifically, realestate.com.au own 80% of the market and Domain 18%, leaving only 2% for all the other small players.
What we believe you will see over the coming two to three years is the next wave of technology companies taking on these traditional internet companies. Any market which is a monopoly or duopoly we believe is under threat by the next wave of the technology boom.
Funding for technology companies was non-existent for the past 10 years, however given the likes of Facebook, Twitter and Whatsapp the next big investment push in technology start-ups seems to be on. All these companies have one thing in common, and that is they want to disrupt the market and take on the bigger guys – Home Open is no different.
What gaps do you see in the competitor offerings in the market such as Realestate.com.au and Domain.com.au?
Realestate.com.au was built as a web-based product and has since been adapted into a mobile based application. Home Open is the opposite: we are a mobile-based product, which will be adapted into a web based product - through our domain www.homeopen.com. This has allowed us to build a unique application which was designed from the start as a tool which puts the information directly into the hands of the consumers.
<blockquote>
The feedback we continually receive is that estate agents are held to ransom by the big players.
</blockquote>
The feedback we continually receive is that estate agents are held to ransom by the big players and they would be happy to use an alternative product if it meets their needs, produces results and is priced competitively.
How is the content of Home Open different from the other websites? 
Our main point of difference to our competitors is that we are focused on homes which are open for inspection. Our application will take the hassle and time out of finding and viewing a home to rent or buy.
Our back-end will still provide all the traditional features of a real estate product such the property’s price, photos and details. We will come to market with a product which is easier to use for the consumer but, perhaps even more importantly, it will provide greater benefits for the estate agents. It will put the power of information back into the hands of the listing agents, reduce the cost to list a property and allow for direct interaction between the agent and the consumer.
How does the Home Open revenue model work? 
Our product will be free for estate agents to use the app and advertise all their products. It will also be free for the consumer to use. We want to make sure that we don’t have any barriers to entry to ensure we get mass market appeal. 
The problem this model can cause is that it forces you to cover the product in advertising, which can easily turn the consumer off. Home Open will offer a completely different form of paid advertising which will be incorporated into the application. Currently, no competitor in the real estate sector is using this method, even though it is being used successfully in other industries. 
Our second stream of income will be from in-app purchases which can be made through the application. This will cover information similar to that which is available for purchase through RP Data, however will be available in our application in a much more efficient manner.
Thirdly we will offer individual estate agents, for a set fee, a unique add-on product. This will allow them to capture even more data about the consumer and increase the communication channels currently on offer.
When do you expect the product to launch?
Our anticipated launch will be mid-2014 for Version 1. This will cover the iPhone, Android, iPad and web applications. We will look to provide regular updates to continually roll out new features in the application.
Our timeline is to be at Version 1.6 by the end of 2014. That would see some unique and exciting features incorporated into the application.
Your company recently ran focus groups with real estate agents on the apps’ branding. What are the next steps for development? 
Our iPhone product has been built and approved by Apple. 
As announced to the share market, the team is currently working on the Android and website versions.
As announced to the ASX [on March 10] we have just raised an additional $3.86 million, this will bring our cash balance to around $6.5 million. This means we are well funded to bring Home Open to market.
We had originally forecast in our prospectus to spend around $850,000 over the first 12 months marketing Home Open, however we have significantly increased that after the latest capital raise. We are now forecasting to spend closer to $2.5 million over the coming 12 months. This will include a large nationwide advertising campaign.
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