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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Mirvac’s Tennyson Reach riverside community development is close to sold out.
After selling 26 apartments since January 2013, with a total of about $22 million sales, a handful of apartments remain.
According to Mirvac’s national chief executive of residential development, John Carfi, there is strong interest in the final apartments.
<img src="/images/2014/03/17/tennyson-reach-march-17-one.jpg" alt="">
"We've had an overwhelming response to Tennyson Reach over the past year and we're expecting this interest to continue," he said.
"The remaining apartments all boast Brisbane River views, with the majority located on the upper levels, so while we are down to the final properties in the development, they are in prime locations.
Each remaining apartment has three bedrooms.
<img src="/images/2014/03/17/tennyson-reach-march-17-two.jpg" alt="">
Tennyson Reach is an apartment community development comprising six apartment complexes: Softstone, Lushington, Farringford, Aldworth, Parsons and Somersby. The site is eight kilometres from the Brisbane CBD and located opposite the State Tennis Centre. Tennyson also includes 2.98 hectares of parkland, with access to cycling routes and a canoe trail.
"The opportunity to live in close proximity to these amenities, including the 2.9 hectare Ken Fletcher community park, has been a significant part of the appeal for purchasers," said Carfi.
"The majority of buyers have already been living in the surrounding area and are looking to downsize to an apartment lifestyle that comes with having these facilities in easy reach.
"They also want an apartment that doesn't compromise on space, while allowing them to enjoy low maintenance living."
<img src="/images/2014/03/17/tennyson-reach-march-17-three.jpg" alt="">
Carfi note the increasing demand for premium apartments in Brisbane.
"With limited new development taking place in the city over the past few years, those wanting to step straight into a brand new property are realising they need to act quickly," he said.
"As development across Brisbane has largely been centred on more entry level properties, the opportunity to secure a spacious apartment in an absolute riverfront location like this is scarce.
"Those who are interested in making Tennyson Reach their home should act quickly."
The remaining three bedroom apartments are priced from $995,000.
<img src="/images/2014/03/17/tennyson-reach-march-17-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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jrichardson-uRX5hFdKfN

Tennyson Reach residential development nearing sell-out

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Sydney property kept up its star performance on the weekend, while Melbourne proved a steady player with the Australian Grand Prix doing little to detract buyers.
Sydney auction clearance rates were at 81.8 %, <a href="https://www.smartcompany.com.au/finance/investment/35950-sydney-auctions-still-going-gangbusters-and-there-s-no-sign-of-slowing" target="_blank">up from 76.1% last week</a> and largely up from the same weekend last year which was 68.8%. There were 631 properties listed, 392 auctions and 338 sold. The median price of auctions for houses was $983,300, with the median unit prices at $715,000.
In Melbourne, the clearance rate was 73.9%, up from 65.4% last week, and slightly up from the same weekend last year at 65.1%. There were 924 properties listed, 671 auctions and 501 sold. The median house price for auctions was $750,000, while the median unit price was $512,000.
In Brisbane, the clearance rate was 38.5%, while in Adelaide it was 57.1% amid the South Australian state government election.
Nationally the most expensive house sold at auction on the weekend was in Toorak, Melbourne, at $6,008,000. In Sydney, the most expensive property was a six bedroom house in Maroubra, at $3,010,000.
The most affordable property was a one bedroom unit in Carnegie, Melbourne, at $272,000. In Sydney, the most affordable property sold was a two bedroom house in Davistown, at $368,000.
Australian Property Monitors senior economist Andrew Wilson told SmartCompany for Sydney the solid result was “groundhog day”.
“It’s remarkably consistent,” he says.
“There is no real trend there… but the prestige market is picking up.”
In Melbourne, he says the grand prix did not impact property sales in the same way as the AFL Grand Final or the Melbourne Cup tends to do. He says auction listings were up on last week, as last weekend was the Labour Day long weekend.
“It was a solid weekend for Melbourne… with an encouraging clearance rate,” he says.
“The results are not in the boom territory of Sydney… there are lots of change-over buyers resulting in higher listings and higher clearance rates.”
He says the property figures for Melbourne are in contrast to the Melbourne economy which is not so strong.
“But with interest rates low and the banks being competitive and offering good mortgage products, consumer interest is strong.”
Wilson says the outer east of Melbourne and the inner east prestige areas remain strong for auction sales, as do the inner bayside areas of Brighton, Mentone and Mordialloc, along with suburbs in the City of Stonnington.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Sydney property accelerates and Melbourne keeps moving despite grand prix

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After a quite week for auctions the previous week, auction volumes across each capital city market increased last week with 2,289 auctions held across the combined capital cities, compared to just 1,520 over the previous week. Last week, the preliminary auction clearance rate increased to 72.4%, from 70.2% the previous week, meaning that current auction clearance rates remain much stronger than they were one year ago (64.4%). While overall, clearance rates increased over the week, it is interesting to note that in Australia’s two largest auction markets, Melbourne and Sydney, there was more than a 10 percentage point difference between the weekly results.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Capital-city-v2.jpg" target="_blank"><img class="alignnone size-full wp-image-3004" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Capital-city-v2.jpg" alt="20140316 Capital city v2" width="460" height="342"></a>
Last week, Sydney’s preliminary auction clearance rate was recorded at 82.7%, the second strongest result for the year so far. There were 857 Sydney properties taken to auction last week, with volumes remaining virtually unchanged when compared to the previous week when there were 859 Sydney auctions, but a lower clearance rate of 78.8%.
Currently, Sydney’s auction market continues to track at a much higher level when compared to one year ago. Over the same week last year, 650 Sydney properties were taken to auction with 70.4% clearing.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Sydney.jpg" target="_blank"><img class="alignnone size-full wp-image-3001" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Sydney.jpg" alt="20140316 Sydney" width="460" height="304"></a>
In Melbourne, the preliminary clearance rate of 67.9% was recorded this weekend from 885 auctions compared to 67.3% last weekend and 66.4% this time last year.
Listing volumes are now surging in both private and auction sale segments with 11% more new residential listings over the last month compared to this time last year. Prospective vendors are clearly being encouraged by market activity in the first quarter of the year.
If this listing activity is matched by sales over the rest of the year we are likely to reach a level of transactions that both exceeds last year and the average over the previous decade. Final numbers for last year saw 81,590 sales in Melbourne. This was 11% higher than 2012 but 5% lower than the average over the previous decade.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Melbourne-v2.jpg" target="_blank"><img class="alignnone size-full wp-image-3009" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Melbourne-v2.jpg" alt="20140316 Melbourne v2" width="460" height="297"></a>
Brisbane recorded a much stronger preliminary clearance rate last week (56.2%) when compared to the previous week (45.0%), however auction volumes have remained steady over the two week period, with 139 auctions held in the city last week, compared to 138 the previous week. Over the same week last year, 37.5% of the 109 Brisbane properties taken to auction recorded a successful result.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Brisbane.jpg" target="_blank"><img class="alignnone size-full wp-image-2998" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Brisbane.jpg" alt="20140316 Brisbane" width="460" height="302"></a>
Both auction clearance rates and the number of properties taken to auction in Adelaide increased last week, when the preliminary auction clearance rate was recorded at 69.6%, compared to 63.2% over the previous week and there were 94 auctions held in the city, up from 80 auctions the week prior. So far this year, there has only been one week where Adelaide’s auction clearance rate has fallen below the 60% mark, while one year ago, just 48.7% of the 82 properties taken to auction sold.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Adelaide.jpg" target="_blank"><img class="alignnone size-full wp-image-2997" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140316-Adelaide.jpg" alt="20140316 Adelaide" width="460" height="302"></a>
The number of auctions expected to be held across the capital cities this week will remain fairly steady, with RP Data currently tracking 2,297 auctions for the week.
*Melbourne auction commentary provided by Robert Larocca, RP Data’s Victorian housing market specialist.
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smiller-vwPjRHTkST

Auction volumes bounce back, but results vary across capital cities: RP Data's weekend auction wrap

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The word 'hotspot' is heavily used by property investors when discussing the next capital growth area. While expectations vary in terms of performance, there are usually some pretty straightforward mechanisms that dictate price and price growth. Here are five of those items and some important pointers to know about these hot areas.
<ol>
<li>
It’s all about supply and demand You’ve no doubt heard this before, but it remains as true as ever. It’s all about supply and demand – the two basic premises of economics. Lower supply, or restrict it, and increase demand – and you’re on your way to success. When you’re undertaking your due diligence on an area it makes sense to look at how these two elements work in concert with each other and ensure you’re looking at possible injections of supply, land opening up, or downturns in demand or desirability. There are many different combinations that can ensure these two elements do, or do not, work favourably together and it is your job as an investor to seek them out. Remember, supply of apartments may not necessarily affect houses - you will need to ensure that you think through the effect any new developments may have on your next purchase. 
</li>
<li>
Infrastructure, infrastructure, infrastructure This is a favourite of observer Terry Ryder. Infrastructure is an <a href="/news/qld/infrastructure-creates-jobs-and-capital-growth-terry-ryder">absolutely critical part of any area’s growth</a>.<a href="/news/qld/infrastructure-creates-jobs-and-capital-growth-terry-ryder"> </a>“Transport infrastructure makes remote locations more accessible; medical infrastructure generates modern health services and long-term employment; and resources infrastructure can spread economic benefits and jobs over vast distances,” Ryder explains. Infrastructure comes in many different forms, and each has the potential to create employment, or make an area more desirable. “The more I chart the events in real estate around Australia the more I am convinced that the greatest creator of capital growth is infrastructure,” he explains. Keeping an eye out for upcoming projects, particularly in areas you have already identified as being of interest to you, can be another boost. 
</li>
<li>
It doesn’t matter how hot the area is, if you can’t afford it Regardless of how many good indicators an area has, no matter how much growth it is expecting, if you are pushing yourself to the financial limit to secure a property – you might just want to forget it and look somewhere else a little more within reach. No area comes without risk, and it doesn’t make good financial sense to risk it all on the potential of capital growth. If you are still adamant about purchasing in a particular area, see if there’s a lower-risk way in, such as a joint venture with someone you know well, a smaller dwelling or a suburb that’s cheaper but nearby. 
</li>
<li>
Historical performance is no indication of future growth Regardless of how well an area has done in the past, of how far the prices have been ticking up, you will want to assess it on its current and future merits. Markets can go down and you may have already missed the boat. While consistent upwards movement in the median value can be reassuring – never assume that this will continue. Similarly, downwards movement can be telling you that the market has further to sink, however further research can provide the reasons for any downturn. You’ll also want to be pretty clear on what the median price is tracking before using it as any sort of a judge of a market’s capital growth movements… it might not actually be recording what you think it is. If you want to have a look at your area of interest’s median price, then here’s some free suburb data (including charts on past growth) for you to begin with. 
</li>
<li>
Employment is one part of the equation Lastly, employment is critical for multiple reasons. Property Observer was previously told by Empower Wealth’s Ben Kingsley that <a href="/news/the-psychology-of-hotspotting-exclusive-interview-with-ben-kingsley">income growth is one of the indicators he looks at to determine capital growt</a>h. Without strong employment, this income growth is unlikely. Similarly, strong and diverse employment hubs ensure a steady stream of tenants and a steady stream of future home buyers who will bid against each other for your property. Decreases in employment, such as major companies shutting down, can have the reverse effect. Remember, if there are no jobs - no one can afford the properties.</li>
</ol>
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jduke-EHk3XBmHkn

Five things you need to know about finding a hotspot

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The next development phase for Queensland’s Portside Wharf, residential stage Pinnacle, has commenced, with the 16 level luxury apartment building expecting completion for 2015.
<a href="https://www.portsidewharf.com.au/" target="_blank">Pinnacle</a> will include 162 one-, two- and three-bedroom apartments, terrace homes and penthouses, and is the only riverfront building at Portside Wharf. It has had $54 million of sales, with prices ranging from $390,000 to $2.4 million. Prices for those currently available start from $435,000, with a sales display currently open.
The apartments are sized from 58 square metres to 241 square metres and more than 70% of the offerings have river and city views.
Click to enlarge
<a href="/images/2014/03/17/portside-wharf-march-17-big.jpg" title="Click to enlarge" rel="shadowbox"><img src="/images/2014/03/17/portside-wharf-march-17-small.jpg"></a>
Photo: Indicative view from rooftop 
Portside Wharf is a mixed-use development, including the Brisbane Cruise Ship Terminal and a waterfront restaurant and retail hub. There are already 300 people in residence across the first four stages, called Promenade, Flare, Loft and Infinity.
Brisbane Lord Mayor, Graham Quirk, and Portside Wharf project director, Lee Butterworth, unveiled the construction at the end of last week.
 <img src="/images/2014/03/17/portside-wharf-march-17-one.jpg" alt="">
The Brisbane waterfront will be redeveloped under the greater Northshore Hamilton plan, with new retail precincts, residential options and green space all earmarked for the area.
"Pinnacle will be the first residential building constructed at Portside Wharf since works began on Promenade in late 2010, proving we have weathered the global financial crisis and are ready to move forward with the development of this iconic address," said Butterworth.
<img src="/images/2014/03/17/portside-wharf-march-17-two.jpg" alt=""> 
"With Pinnacle's strong off the plan sales, it is clear that confidence is returning to the market, with total sales at Portside Wharf now reaching more than $83 million.”
Currently, more than 250,000 visitors each year come to the area through the Cruise Ship Terminal.
 <img src="/images/2014/03/17/portside-wharf-march-17-three.jpg" alt="">
"Our vision for Portside Wharf is to be the beating heart of the entire Northshore Hamilton development.  We have so far achieved that vision and established Portside Wharf as a Brisbane landmark and a vibrant community that has reinvented this once overlooked part of the Brisbane River,” he said.
Pinnacle will have a rooftop terrace with a pool, BBQ, gym, entertainment area and onsite guards and management.
 <img src="/images/2014/03/17/portside-wharf-march-17-four.jpg" alt="">
Located six kilometres from the CBD, Butterworth is marketing it towards ‘high flyers and executives’ as well as ‘empty nesters’ and young couples.
Portside Wharf also houses big brand retailers such as Dendy Cinema, IGA, Jetts Fitness and a number of hairdressing and restaurant outlets.
 <img src="/images/2014/03/17/portside-wharf-march-17-five.jpg" alt="">
Photos are artistic impressions.
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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Construction commences on Brisbane waterfront Portside Wharf’s Pinnacle

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The price of vacant land across the capital cities continued to climb throughout 2013. At the end of the year, the median selling price was $249,000 which is an increase of 6.9% throughout the year with vacant land prices now at historic high levels.
The annual rate of growth in median selling prices was the largest annual change since they rose by 8.5% over the 12 months to August 2011.
Across each capital city, it’s easy to see an occurring disparity between the cost of land and the typical size across the cities.
<img src="/images/2014/03/17/kusher-march-14-four.gif" alt="">
Median selling prices of vacant land are highest in Sydney ($305,000) and lowest in Hobart ($150,000). Most cities have recorded a significant increase in selling prices over the past decade however; it is worth noting that growth in Sydney has been minimal.
Median lot sizes tend to be much larger in Hobart (828 square metres) than they are across the other capital cities. Typical vacant land areas are smallest in Adelaide at just 375 square metres. All capital cities have recorded a rise in median land sizes throughout 2013.
<img src="/images/2014/03/17/kusher-march-14-one.gif" alt="">
We’ve seen a large reduction in the median lot size of vacant land over recent years. When preparing today’s analysis, we were surprised to see a slight reversal of this trend throughout 2013. At the end of 2013, the average vacant lot size across the combined capital cities was 500 square metres, which is slightly higher than the 466 square metres at the end of 2012. The average lot size has reduced quite significantly over time; 20 years ago the typical lot size was a much larger 701 square metres.
Although vacant land median selling prices rose over the year, the rise in median land area has resulted in a slight fall in the median rate per square metre. Currently, the median rate per square metre for vacant land was recorded at $507.70/square metres at the end of 2013 compared to $509.39/square metres at the end of 2012.
<img src="/images/2014/03/17/kusher-march-14-two.gif" alt="">
This result highlights that as prices have risen and sizes have shrunk, there has been a sharp rise in the cost of land on a square metre basis. “Twenty years ago, the median rate per square metre for capital city vacant land was recorded at $76.47/square metre.
As a result of falling lot sizes and vacant land price increases we have seen significant rises in the rate per square metre for land across each city over the past decade. Perth land is the most expensive on this measure ($631.46/square metre) followed by Sydney ($608.27/square metre) . The rate per square metre for land in Hobart is significantly lower than all other capital cities at $147.82/square metres.
The ongoing trend across capital city vacant land markets has been diminishing lot sizes and rising prices. If you were to buy a piece of land today 701 square metres in size (which was the typical size 20 years ago) it would cost $355,896. Compare this to the current capital city median of $249,000 for 500square metres. A 500 square metre lot 20 years ago would’ve cost just $38,235.
<img src="/images/2014/03/17/kusher-march-14-three.gif" alt="">
With vacant land costs increasing over the past 20 years it is no wonder there has also been an ongoing increase in the overall cost of housing. With a starting point for land in the capital cities of $249,000 currently, when you add in build costs it is no wondering the size of land has trended so much lower as developers look to provide relatively affordable housing options for price sensitive buyers.
Overall, one of the solutions to housing affordability issues is to reduce the cost of land. The way to do this is to either greatly increase the supply (expand urban boundaries and grant approvals quicker) or reduce the built in costs of developing the land which includes taxes and government fees and charges.
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ckusher-ujnxiKuFQs

Cost of vacant land in capital cities continues to rise

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Sydney’s seventh consecutive weekend with 80% or higher auction success rates was notched up this weekend, as the intensive four week countdown to the Easter break now tests the market depth.
Saturday's trophy listing, the penthouse in the Darlinghurst high-rise Horizon was withdrawn from auction given as yet uncompetitive buyer interest, with that black Mercedes van full of touring Chinese buyers remaining apocryphal.
The Ballard Property Group did however secure the day's highest notified sale which was $3.01 million in Maroubra. Auctioneer Damien Cooley from Cooley Auctions took a $2.3 million opening bid. Property Observer gleans a higher sale at about $3.35 million had been secured in undisclosed prior auction negotiations  through McGrath for the 1893 sandstone Hunters Hill house, Norwood.
The 81.8% strong clearance rate came from 413 results, although there were some 630 plus results expected in any final tally by Australian Property Monitors.
Last weekend's 82.4% came in at a revised 76.1%, a much larger than typical downward revision suggesting to Property Observer nascent signs of a slowing down from record-level pace.
The year's results are still well ahead of last year’s low 70% results and auction numbers are also significantly higher this autumn.
This weekend's 632 home offerings was around 38% higher than the 456 that were listed over the same weekend last year.
The inner west was the most active region for auctions this weekend in Sydney with 110 followed by the south with 87, then the upper north shore 73, the city and east with 70, the lower north 65 and the northern beaches with 55 auctions listed.
Mosman on the lower north shore is the most popular suburb for auctions with 12 listings, followed by Strathfield with 10, Blacktown and Greenacre with 9 each, and Erskineville with 8. APM reported four of the five Mosman results as sold. Three of the four Strathfield results were reported as sold. All six notified Blacktown results had sold. None of the three notified Greenacre results had found buyers.
"There's a dramatic increase to the number of properties coming on the market prior to the Easter period," one auctioneer told Property Observer.  
Melbourne’s weekend auction market bounced back this weekend to 73.9%, up from last weekend's 65%, which were first reported by APM as at 70% for the Moomba mini-pause last weekend.
That 65% - the lowest for the year so far - was interestingly not much higher than the 61% recorded around the same time a year ago, suggesting Melbourne fillip is on the wane.
The APM weekend's initial result in Melbourne came from 678 of the 930 auctions scheduled. Melbourne's volume is only just ahead of last year’s 832 over the same weekend.
The most popular region for auctions were the inner south with 157 auctions scheduled with the most popular suburbs for auctions being Reservoir with 19, followed by St Kilda with 16. Some 13 of the 16 notified Reservoir listings found buyers, and in St Kilda nine of the 10 notified results were sold.
Tasmania's gambling arts patron David Walsh had $16 million expectations for his full-floor penthouse atop the Harry Seidler-designed Horizon, Darlinghurst tower.
It was scheduled for March 15 auction <a href="https://www.ballardproperty.com.au/Buying/Search/residentialresult/residentialdetail.aspx?id=WOOLLAHRA%202012237&amp;wlid=57e94a53-15a1-4a6f-abe1-6c71d5563102" target="_blank">through Bill Bridges of Ballard Property Group.</a>
The proprietor of the much-admired MONA gallery and Moorilla Estate vineyard, was to include select artworks from his private collection, including a watercolour triptych on paper by John Olsen, to sweeten the property deal for the 43rd-floor penthouse.
It was bought from property developer Lang Walker in 2002 for $10 million through Bill Bridges and exceeded Sydney's then $8-million penthouse record. 
Walsh has recently had a Coco Republic custom furniture fitout with the aim of enhancing its appeal to Chinese buyers as a home and corporate home office suite, which would perhaps help on the annual strata levy deductability. 
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jchancellor-FAypfDUnLy

Nothing on David Walsh's Horizon, but Sydney's streetside weekend auctions yield 80% plus again

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Describing romanticism is difficult; I seek to find beauty not only in people but in everything around me.
Behavioral studies that attempt to understand the romanticism of objects and environments are both intriguing and complex. Psychology demonstrates that to romanticize non-human entities is to render them worthy of moral care and consideration, and to find a meaningful, personal connection with them.
Neuroscience research indicates that we use the same brain regions when we are thinking about nonhuman entities as we do when thinking about human ones, and it is here that our feelings (including romance, affection and love) can be connected with the built environment.
Architecture may also be connected to brain development. Neuroscience suggests that the quality of a built environment can enhance the performance of the brain and can even generate the growth of new brain cells. During his search for a polio cure, Jonas Salk retreated to the Basilica of Assisi. He later insisted that the design of that environment had cleared his obstructed mind and led to the polio vaccine.
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		<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Basilica-of-Assisi-in-Italy.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Basilica-of-Assisi-in-Italy.jpg?itok=d_lQUsYW" width="580"></a>
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		Basilica of Assisi in Italy</dd>
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This experience prompted Salk to romanticize the architecture of the Basilica, and many can describe similar feelings about their built environments. This perception can drive people to consider architecture in their most important moments, both tragic and amazing.
Take Manhattan’s Empire State Building, for example. It’s a New York icon, featured in more than a hundred films including King Kong and Sleepless in Seattle. The famous building is a hotbed of romance, hosting numerous marriage proposals and even Valentine’s Day weddings. The world’s tallest building at the time of its completion in 1931, the Empire State Building sparks inspiration in those who see it (in pictures or in person) as well as those daring enough to surge to its peak via ultra-fast elevators.
Is it the height that grabs us and leaves us breathless? Or is it the fact this amazing feat of engineering, with its super-thick walls, was completed in just one year? Whatever the reason, this building dominates the skyline of New York City as well as the romantic consciousness of New York’s visitors, making it deserving of New York’s nickname (“the Empire State”).
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		<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/The-iconic-Empire-State-Building.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/The-iconic-Empire-State-Building.jpg?itok=N2SZ6biK" width="580"></a>
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		The iconic Empire State Building</dd>
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Another example is found in the Guggenheim Museum Bilbao, in a small city in the northeast of Spain—not a popular travel destination until Frank Gehry designed the sculptural, sparkling museum along the riverfront. Like a powerful piece of art, a building can have a strong impact on us at first sight, and Bilbao has become a household name and a tourist destination due to this mesmerizing building.
Santiago Calatrava’s airport in Bilbao should not be discounted either; Calatrava’s famous soaring ceilings and structural details sweep visitors up into the rafters and bring them gently back down to where they stand, gazing upward. It’s no wonder that these two buildings are so often the images used for regional advertisements and announcements; they’ve become iconic because of the connections that they create with visitors.
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		<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Gehry%E2%80%99s-sculptural-Museum-Bilbao.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Gehry%E2%80%99s-sculptural-Museum-Bilbao.jpg?itok=B2YVtNu-" width="580"></a>
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		Gehry’s sculptural Museum Bilbao</dd>
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In fact, architecture is increasingly popular in all types of advertising, as ad execs take advantage of the romanticized backdrop. Take time to note the setting of any new car commercial—you’d be hard-pressed to find an ad where the location and architecture wasn’t chosen specifically to enhance the design of the car, its sweeping elegance, speed, timeless design, and beauty. This trend can be found among other types of products as well.
Unfortunately, not all architecture holds a positive meaning; we all have personal connections with spaces, places, and architecture, and sometimes they can be dark. The 2006 documentary <a href="http://www.youtube.com/watch?v=Zwl-Pa_QT0M" target="_blank">The Bridge</a> is a testament to this “other” romantic connection, highlighting San Francisco’s Golden Gate Bridge—classic, photogenic icon for most, but location of life-ending leaps for others.
The bridge has been the site of more than a thousand suicides, making it the most popular suicide location in the world. Why there? Some suggest it’s the majesty and iconicism of the structure that makes it the choice for troubled souls. Most jumpers don’t survive, making “why” a difficult question to answer, but the few survivors note the beckoning “vibrations” of the bridge.
It seems evident that our buildings do speak to us, in different ways. We must remember that when designing spaces, we are also creating a constantly evolving dialogue, open to everyone who visits.
Linda Bennett is a practising architect and founder of website <a href="http://www.archi-ninja.com/" target="_blank">Archi-Ninja</a>, a more than worthwhile read for those seeking a unique, in-depth view of architecture.
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Linda Bennett

Romanticizing Architecture

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The innovative design of Sydney’s blue chip Eliza development has the town talking.
Eliza is situated on Elizabeth Street in Sydney’s CBD, overlooking Hyde Park. According to the building’s architect, Tony Owens, the development’s location was the major influence on its design, from its curvaceous façade to its materials.
<img src="/images/Eliza%202.jpg" width="460" height="307">
“It all starts with the site,” said Owen. “It’s surrounded by some of Sydney’s most important buildings. We always do a contemporary design, but we wanted to do a design with those buildings as well. So we used traditional materials like sandstone and steel, but we did it in a contemporary way.”
Each of Eliza’s 17 floors is different from the last, a practice Owen says was previously unheard of.
<img src="/images/Eliza%2011.jpg" width="460" height="690">
“Each level has a different floor plan, because each level has different views and different amounts of sunlight. And we found that as you went up the building, the situation changed.
“In the past, you wouldn’t conceive of having a different structure on each level.”
But thanks to the advent of new technology, Tony Owen Partners has been able to create a building that would have been unfeasible three years ago. Owens’s own home attracted attention last year when Moebius House [pictured below], which he designed using early versions of similar technology, <a href="/expert-insights/building/tony-owens-moebius-house-dover-heights-listed-for-sale">hit the market</a>.
 <img src="/images/moebius-house-tony-owens-4.jpg" width="460" height="316">
“Every project we do represents a jump in technology,” Owen said.
“We started with some more basic things like the Harley Davidson headquarters [pictured below], and then with each project it became more complicated and exciting.”
<img src="/images/harley.PNG" width="460" height="325">
Both the Eliza’s design and its fabrication were made possible by recent technological advancements, says Owen.
“The building’s materials were actually fabricated by robots. The robots would take a block of stone, and would cut shapes exactly to our computer’s specifications,” he said. “We used digital technology to not only design the façade but also break it down into parts, so that we could easily manufacture it.
“We had to consider: if you have a wiggly line, how do you break it down into pieces that are sensible and practical to build? This technology didn’t exist three years ago, but it exists now. And it means a very complicated design can be brought down to a very inexpensive standard.”
Eliza, developed by Ceerose, has 19 half and full floor apartments spread over its 17 levels. The building’s three level penthouse, which will be marketed once construction is completed, includes a rooftop infinity pool, limestone paving and outdoor kitchen and is expected to fetch $15 million.
The majority of the apartments’ buyers are owner-occupiers, and with its prestige location and costly amenities (including marble laundry benches), there’s no doubt that Ceerose are pitching Eliza at the city’s luxury market.
<img src="/images/Eliza%20bathroom.jpg" width="460" height="307">
Of the possibility that Eliza’s undulating design may alienate some buyers, Owen says that Sydneysiders are ready for risk taking architecture.
“I was in Melbourne on the weekend, and every project there is as exciting as Eliza,” said Owen.
“Buyers always choose good over ordinary. In Sydney, they’ve always been offered a boring box. But now we’re seeing that once they get offered the choice, they choose the more exciting designs.”
Owen says that demand for contemporary design is growing across the city.
“Now all the real estate agents are going to architects and saying, ‘Can you design something like Tony?’ because that’s what the buyers want. And we’re very excited about that, because it raises awareness about terrific design.”
Currently only two apartments in Eliza remain unsold. The full floor offerings are being marketed by Nigel Napoli and Irene Lau of Savills, with Richard Shalhoub and Hamish Robertson of McGrath.
As for the future, Owen says his practice has plenty on its plate, with residential, commercial and public projects underway.
 
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Tony Owen designed Eliza development at the forefront of contemporary architecture

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Most sellers are familiar with the system of private treaty.
This is the most common sales method in WA and is based on advertising the property at an asking price and then negotiating with the buyer, through the agent, to secure the sale after some old-fashioned haggling.
This is done using the REIWA offer and acceptance form. Once the seller accepts an agreed price and conditions the transaction can proceed to settlement.
A second option however, is to sell by auction.
Although not as common in WA, auctions can be a good way to flush out the more serious buyers after a shorter marketing period and some buyers find them more convenient. A successful bidder, having reached or surpassed the reserve price, must be able to provide a 10% deposit at the fall of the hammer.
A third option to selling your property is to invite offers by a specified date. This is historically known as a tender process but also goes by other descriptions such as expressions of interest, set date sale or end date sale.
Expressions of Interest might sometimes indicate a price range whereas set date and end date sales usually don’t disclose price.
With these particular methods a property will generally be on the market for four to six weeks to allow potential purchasers to view it. If they are keen to buy, the agent will ask them to submit either a formal written offer or written expression of interest.
If you’re selling you should discuss with your agent your desired conditions of sale, including price, settlement date, whether you will entertain finance conditions and inclusions and exclusions of the sale.
Normally these submissions will close on a specified day and all potential purchasers are encouraged to put forward their best and final submission.
After submissions close the agent will discuss them with you. If you choose not to proceed with any of them you can place the property back on the market.
If you’re a buyer submitting an offer, ask if the seller can accept the offer at any time or only at the end of the defined period of time. If making an offer you must not submit any offers for other properties.
If selling, ask your agent what method they propose to use and for what reasons. For each method it might be helpful to ask to see the evidence showing how each method reduced the days on market and improved the selling price in a particular area when compared to other options.
If buying, clarify what it is you are required to submit. Is it an offer that can be accepted by the seller, and therefore becomes a contract, or are you merely expressing an interest?
DAVID AIREY is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank" rel="nofollow">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" target="_blank" rel="nofollow">reiwa.com</a>.
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