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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<img src="/images/stories/4285.jpg">
The price a <a target="_blank" title="Mosman supermarket sold" href="https://www.propertyobserver.com.au/commercial/mosman-bridgepoint-shopping-centre-sells-to-chinese-investor/2011081651175">Chinese buyer paid for the Bridgepoint Shopping Centre in Mosman</a> on the Sydney North Shore. The price reflects a yield of 8.2% on fully leased gross income of about $4.9 million per year. The centre is anchored by Franklins supermarket, Harris Farm Markets, Mosman Professional Centre and 34 specialty stores. The shopping centre was sold by Lieve Li of Buckingham Real Estate on behalf of developer Frasers.
 
<hr>
<img src="/images/stories/2835.jpg">  
 
The size of a block in Alexandria, Sydney containing an existing industrial brick warehouse with small office component bought by private investment company BridgeLane Group for $7 million. Sale of the block at 123-129 Wyndham Street was negotiated by CB Richard Ellis’ Stuart Cox and Daniel O’Brien. It has been earmarked as a potential residential development site. The property is leased to Jade Auto Repair Pty Ltd until December 30, 2013.
 
<hr>
<img src="/images/stories/160m.jpg">  
The amount<a target="_blank" title="Westfield buys half stake in Milan shopping centre" href="https://www.propertyobserver.com.au/commercial/westfield-to-spend-%24160-million-to-develop-italian-shopping-centre/2011081251143"> Westfield has spent to acquire a 50% interest in a development site in Milan</a>, Italy. The 60-hectare site adjacent to Milan's Linate airport has planning approval to develop a regional shopping centre similar in scale to Westfield London. The site is being acquired in a joint venture with Gruppo Stilo, an Italy-based developer owned principally by its founder, Antonio Percassi.
 
<hr>
<img src="/images/stories/5502.jpg">  
The size of a vacant industrial site in Regency Park, Adelaide acquired by a local private developer for $1.55 million at auction.  The site is located at 1-3 Myuna Street. CB Richard Ellis’ Craig Klemich and David Ludlow steered the auction campaign on behalf of Hoepners Admin Services.
 
<hr>
<img src="/images/stories/960k.jpg"> 
The price achieved for a commercial property at 292 Station Street, in Lalor, Melbourne, sold at public auction. The selling process was handled by Fitzroys agent Julian Heatherich. The sale achieved a yield of just under 5%. A private buyer bought the refurbished, single-level, brick retail building of about 125 square metres on 260 square metres of land. It is currently occupied by private healthcare operator Healthscope.
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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<img src="/images/stories/lattesquote.jpg">
– Real estate agent Sam Kelso, who reckons agents between 20 and 35 have the enthusiasm and social chops to perform well in an industry where the median age is 40. Kelso, who is 22, is a member of Young Professionals in Real Estate, which represents younger agents. 
"It comes down to their ability to have fun and cut deals... And sometimes I can't even tell the difference," Kelso says. 
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cknowlton-QnEa6ntUYP

Quote of the week

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<img src="/images/stories/117.jpg"> 
The gross rent per square metre that Graphique Solutions Pty Ltd will pay to lease 350 square metres at 1/4 Wirega Avenue, Kingsrove in the Southern suburbs of Sydney from Shehata. The lease term is three years plus a three-year option, with the contract negotiated by Emilios Michael from Niemeyer Commercial Industrial Property.
 
<hr>
<img src="/images/stories/269k.jpg">The annual rent that a private investor will earn following the lease of five shops on the site of a demolished KFC restaurant at 305 High Street in Ashburton in Melbourne. The leasing agent was Ben Evans of Gray Johnson. The largest outlet, measuring 140 square metres, was leased for $480 per square metre on a five-year basis, plus a further five-year option, to Every Battery.
 
<hr>
<img src="/images/stories/116sqm.jpg">The size of a warehouse that Vacant Lot Retail Pty Ltd has leased at 4/1A Box Road in Taren Point, 20 kilometres south of the Sydney CBD from Cornelius van Graan. Vacant Lot will pay a gross rent of $166 per square metre. The leasing agreement, which runs for 11 months, was negotiated by Trent Gallagher from Colliers International.
 
<hr>
 
<img src="/images/stories/550.gif">
The gross rent per square metre that content delivery start-up Tapit Media Pty Ltd will pay to lease a 77-square-metre office at suite B, level 1, 17-19 Alberta Street in Surrey Hills from a private investor. The lease term is 18 months, with the agreement negotiated by Kylie Doust from DB Property.
 
<hr>
  
<img src="/images/stories/611k.jpg" style="border-style: initial; border-color: initial;">
The annual rent that Swiss luxury watchmaker Rolex will pay to rent a shop at 100 Knightsbridge in London, one of three retail outlets that form part of One Hyde Park, one of the world’s most expensive residential developments. Rolex has renewed its lease for a further 14.5 years, with the deal negotiated by Savills London.<a target="_blank" title="Russian investor buys Rolex store" href="https://www.propertyobserver.com.au/retail/russian-buys-%C2%A313-million-rolex-store/2011090251404"> The store was recently bought by Grigory Guselnikov</a>, a 35-year-old Russian investor, for £13 million ($20 million).
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Commercial leasing: Watch this space

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<img src="/images/stories/800.jpg">
The price, roughly, that commercial law firm Piper Alderman will pay per square metre per year to lease 1,119 square metres of space over level 36 in Brisbane’s Riverside Centre in a deal negotiated by Jones Lang LaSalle’s Gerry Leyden and  Bob Rice. The building located at 239 George Street is owned by the GPT Wholesale Office Fund. The lease term is 10 years.
 
<hr>
 
<img src="/images/stories/320sqm.jpg">
The amount of office space that German national carrier Lufthansa will lease at 189 Kent Street in the Sydney CBD in a deal negotiated by Ray White Commercial. The airline was formerly at 143 Macquarie Street, Sydney. The airline has signed a five-year lease with real estate listings show offices up for lease in the recently refurbished 15-storey building at gross annual rentals of between $380 and $450 per square metre.
 
<hr>
<img src="/images/stories/593.jpg"> 
The size of an office leased to online travel site Booking.com on level 11 of the Australia Square Plaza Building at 95 Pitt Street in the Sydney CBD. The building is jointly owned by property groups Dexus and GPT. Booking.com will pay $870 per square metre per year. The lease term is four years, with the deal negotiated by Thomas Fredriksen from Knight Frank.
 
<hr>
<img src="/images/stories/110k.jpg"> 
The annual rent that women’s shoe retailer Bare Traps is paying to lease a new 390-square-metre store at 221 Stafford Road, Stafford on Brisbane’s north side. The deal was negotiated by Steve Black of Ray White Commercial Pine Rivers. Bare Traps has secured a five-year lease with five options to renew on the Stafford store, which is located on a 6,000-square-metre site owned by De Pasquale Bros Pty Ltd.
 
<hr>
<img src="/images/stories/962.jpg"> 
The gross annual rent per square metre that Morena Restaurant will pay to lease a 156-square-metre shop at 425 Bourke Street in Surry Hills, Sydney, from Zone Developments. The lease term is five years plus a five-year option with the deal negotiated by Michael Vranic from City Commercial Property.
 
<hr>
<img src="/images/stories/58point5.jpg"> 
The gross annual rent per square metre that Morena Restaurant will pay to lease a 156-square-metre shop at 425 Bourke Street in Surry Hills, Sydney, from Zone Developments. The lease term is five years plus a five-year option with the deal negotiated by Michael Vranic from City Commercial Property.
Know of a commercial leasing deal? <a target="_blank" title="Email us" href="mailto:news@propertyobserver.com.au">Let us know</a> to have your deal included in next week's listing.
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<img src="/images/stories/2100.jpg">
The size of a two-level building that greeting card company JSA has committed to lease for 10 years in Investec Bank’s Mulgrave Business Park. CBRE associate director of office services Richard Height acted for Investec Bank while Frank Vinci, director of Vinci Carbone Property, acted as JSA’s exclusive broker.  The park is located 382 Wellington Road, Mulgrave in Melbourne’s southeast. Vinci Carbone Property sold JSA’s Clayton complex for $10,000,000 in late 2010.
 
<hr>
 
 
<img src="/images/stories/716.gif">
The amount space that infrastructure solutions group CommScope will rent on the second floor of the newly-completed IC Enterprise 1 building in the University of Wollongong’s Innovation Campus. CommScope has signed a six-year lease and will join tenants including BHP Billiton, Illawarra Coal and international business process outsourcing firm Mphasis. IC Enterprise 1 is a $40 million A-grade commercial building featuring large floor plates of up to 2,600 square metres.
 
<hr>
<img src="/images/stories/440.gif"> 
The gross rent per square metre per annum that Prospecta Software (Australia) Pty Ltd will pay to lease a 64-square-metre office space at 275 Alfred Street from Fivex Commercial Property. The lease term is 18 months, with the deal negotiated by Laura Hilder from Aspace Estate Agents.
 
<hr>
<img src="/images/stories/18000.gif"> 
The upper range of space <a target="_blank" href="https://www.propertyobserver.com.au/office/westpac-takes-paris-end-of-collins-leaves-docklands-to-other-banks/2011092251651">Westpac will lease in its new Melbourne headquarters at the Paris end of Collins Street</a>.  The bank is set to occupy between 14,000 and 18,000 square metres of office space in a new 20,000-square-metre, 10-level A-grade office tower to be constructed by Grocon and APN Property Group. About 1,000 square metres of the building will be set aside for retail use.
 
<hr>
<img src="/images/stories/294.gif"> 
The net rent per square metre per year that special effects company Makeup &amp; SFX will pay to lease a 639-square-metre site at 237-241 Broadway in the inner west of Sydney from Mary Capetan for five years. The deal was negotiated by Boe Saysouthinh from Deans Property.
Know of a commercial leasing deal? <a href="mailto:news@propertyobserver.com.au" title="Email us" target="_blank">Let us know</a> to be included in next week's listing.
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The residence 21 White Street in the Melbourne suburb of Glen Iris sold at well at weekend auction, fetching a price well above expectations.
<img src="/images/stories/whitest.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/21-white-street-glen-iris/Property-Details-buy-residential-3142005_S">21 White Street, Glen Iris, VIC, 3146</a>
Sale price: $1,860,000
Agent quote: $1.5 million plus
% above agent quote:  19.35%
Bidders:  6
Last sold: October 2006 at $1,079,000
Growth since last sale: 11.54%
Median growth for Melbourne: 8.6%
Average tip: $1.71 million
It was among the biggest auctions of the weekend, with well over 100 people looking on as six bidders aggressively competed for the three-bedroom family home.
Since being sold in 2006 for $1.079 million the property has had a cosmetic renovation and landscaping including a pool.
Although renovation costs need to be taken into account this rate of growth is significantly higher than the Melbourne median of 8.6% over the same time frame.
Mark Armstrong from propertytycoon.com.au suggests the result indicated a high level of confidence for home buyers who are looking to upgrade their family home.
He says investors and first-home buyers are a bit more wary, but the home buyers in this price bracket were showing real strength and are currently driving the property market.
Some 8% of the tipsters on <a href="https://www.propertytycoon.com.au">propertytycoon.com.au </a>were within close proximity to the sale price.
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jchancellor-FAypfDUnLy

Weekend auction tipping result

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<img src="/images/stories/160.jpg">
The net rent per square metre per year that My Baby Warehouse will pay to lease 1,500 square metres of warehouse space at 431-433 Great Western Highway in Wentworthville, NSW. The lease term is two years, with the deal negotiated by Tim Knapp and Nick Saba from Knight Frank.
 
<hr>
<img src="/images/stories/216.jpg"> 
The size of an office that personal injury legal firm Rennick Briggs Lawyers has agreed to lease for five years in the heart of the Melbourne CBD legal precinct, in a deal negotiated by Savills Australia. The office on level 15 at 190 Queen Street will provide the tenant with additional space to cater for recent business expansion, according to Savills associate director of office leasing Gordon Wyllie. The rental was not disclosed, however it is believed to be in the mid-to-high $300s per square metre gross.
 
<hr>
 
<img src="/images/stories/320.jpg">
The gross annual rent per square metre that security integration specialist Loop Technology Pty Ltd will pay to lease a 157-square-metre office at suite 3/20-22 Cliff Street, Milsons Point in Sydney from Metrotex International Pty Ltd. The lease term is three years, plus a three-year renewal option. The agreement was negotiated by Jay Sheffield from Raine &amp; Horne Commercial North Sydney.
 
<hr>
<img src="/images/stories/417sqm.jpg"> 
The size of a site that Illawarra Children's Services has leased at 69 Warrangarree Drive, Woronora Heights in South Sydney from Dinmul Pty Ltd. The not-for-profit organisation will pay net rent of $373 per square metre per year. The lease term is five years with a five-year option and was negotiated by Daniel O'Brien from CB Richard Ellis.
 
<hr>
<img src="/images/stories/316dollars.jpg"> 
The gross rent per square metre per annum that Prince Technologies will pay to lease a 110-square-metre office at level 1, 21 Chandos, St Leonards from B &amp; M Stacker. The two-year lease was arranged by Kellie Tattersall from Taylor Nicholas North Shore.
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It was a dead heat between Sydney and Melbourne this past weekend, with both capitals recording a 55% weekend auction success rate.
Given the media negativity about the property market and the economy, the spring markets are faring OK.
Much of spring’s resilience is that vendors have adjusted their price expectations to match buyers’ reticence.
Agents have crunched some of their vendors to do it.
But another important aspect has been agents rejecting the listings of those whose price expectations are in cloud cuckoo land.
Vendors are the ones often being appraised in the agents’ pitches this spring when they get to give their initial appraisal of the house set for sale.
Given sales volumes are down quite considerably on spring 2010, estate agents are keen to cherry-pick the better listings that are more likely to bring in the selling commission.
There were 182 sales in Sydney from the 331 reported results, with another 84 results yet to be tabulated.
There were a total of 633 auctions reported in Melbourne of which 349 sold. Of the 284 passed in some 92 were on a vendor’s bid. There are 63 results yet to be tabulated.
Next weekend Melbourne auction numbers will increase again, with 880 homes listed for auction, according to the Real Estate Institute of Victoria.
There are about 400 in Sydney, according to Australian Property Monitors.
Both offerings are about 20% down on the same Saturday last year.
 
 
 
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Weekend auction wrap: Where the hammer fell

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<img src="/images/stories/4000sqm.jpg">
The amount of industrial and office space that Australian-based property group Valad has leased in Gyroscoopweg, a 32,000-square-metre mixed-use, multi-let estate in Amsterdam in the Netherlands. The 4,000 square metres comprises five new leases with a combined total annual rental value of €331,000 ($440,000). Two new tenants, Dobson and Uzcudun B.V. and J.H. Oei Beheer B.V., have signed five-year leases on 815 square metres and 616 square metres respectively. The other three leases were renewals and expansions for existing tenants, including WMF Nederland B.V., which extended its lease on 1,353 square metres of predominantly office space for a further six years, while Welzorg Nederland B.V. took an extra 615 square metres of office and industrial space, making their total leased area more than 2,700 square metres. Alliance Mode B.V. also extended for another five years on 524 square metres of office and industrial space. Gyroscoopweg is close to Schiphol Airport.
 
<hr>
<img src="/images/stories/104410.jpg"> 
The net annual rent that Michael Roger Quality Meats Pty Ltd will pay to lease a 100.5-square-metre shop in the Burwood Plaza, a single supermarket-based centre located in the Burwood Town Centre, approximately 12 kilometres west of the Sydney CBD. The centre is owned by Centuria Property Funds, which also negotiated the deal. Burwood Plaza has total gross lettable area of around 12,400 square metres and is categorised as a sub-regional shopping centre.
 
<hr>
 
<img src="/images/stories/8number.jpg">
The number of commercial deals totalling 110,000 square metres in the last six months in the industrial suburb of Braeside in the City of Kingston, about 26 kilometres southeast of the Melbourne CBD. According to Savills Notting Hill office investments director, Ben Hegerty, Braeside is experiencing an industrial property renaissance with its lowest vacancy rate in at least five years as tenants are tempted by radically improved planned and completed road infrastructure and vie for limited space.
 
<hr>
 
<img src="/images/stories/385.jpg">
Roughly the amount Key Options Technology, an Apple authorised training centre, will pay in gross annual rent per square metre, following its decision to relocate to a 264-square-metre tenancy at 8 Cuthbert Street at Sydney's King Street Wharf in the CBD. The lease term is three years, with the deal negotiated by Ray White Commercial's Anthony Harris. He says 8 Cuthbert Street is just moments from King Street Wharf's bars and restaurants, comprising ground floor offices, internal stairs, mezzanine floor with own balcony, parking and rare signage usually associated with retail opportunities.
 
<hr>
<img src="/images/stories/1246.jpg"> 
The amount of space that health club operator Fitbodz will lease at the Burwood Plaza in the Burwood Town Centre approximately 12 kilometres west of the Sydney CBD. Fitbodz will pay net annual rent of $84,516 plus GST. The centre is owned by Centuria Property Funds, which also negotiated the lease agreement.
 
<hr>
<img src="/images/stories/475.jpg"> 
The gross annual rent per square metre that family history website ancestry.com.au will pay to lease 145 square metres of space at Level 3, 387 George Street in the Sydney CBD in a transaction completed by Ray White Commercial office leasing director John Skufris, who negotiated the deal on behalf of private investment group Lionmar Holdings. Ancestry.com.au has secured a five-year lease. “Located opposite Mid City, the building has long been home to destination camera and electronics retailer Georges Cameras as well as for Weight Watchers,” Skufris says.
Know of a commercial leasing deal?<a href="mailto:news@propertyobserver.com.au" target="_self"> Let us know</a> to be included in next week's listing.
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Horse racing isn't the only tipping to excite punters' hearts this weekend. There's now a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where Melburnians can guess auction results, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
But Melbourne auction numbers will fall dramatically to around 440, almost 50% less than last weekend, as many vendors opt not sell over the Melbourne Cup weekend. In this environment we are likely to see clearance rates increase slightly as purchasers compete for less available property.
The property at 12/24B Hampden Road, Armadale is an example of a property that may see a stronger result driven by its blue-chip location and highly sought-after Art Deco style. Many buyers prefer these older-style apartments due to the larger size of the rooms and fewer apartments in each block. 
This week the auction market may also have a reason to feel more confident as inflation numbers indicate a very high chance of an interest rate reduction on Melbourne Cup Day, with the possibility of another one early in the new year.
<img src="/images/stories/hampden.jpg">
12/29B Hampden Road, Armadale
Agent: Hocking Stuart - Andrew James
Quote: $550,000 to $620,000
Last Sold: November 2008
Price: $542,000
Suburb median: $555,000
Five-year median growth: 12.46%
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a>.
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