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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Established houses and units priced below $600,000 recorded an 83% auction success rate in Sydney on the weekend. It came just days after the NSW government’s announcement that established homes would lose their entitlement to first home owner stamp duty subsidies from December 31.
There was been a 74% clearance rate for the sub-$600,000 market on the September 3 weekend, according to Australian Property Monitors data.
The cheaper price bracket has recorded a better success rate than the overall Sydney clearance rate for some time, with commentators suggesting the weekend fillip was the first sign of the incentive for first-home buyers to buy over the next 16 weeks. 
There was a 60% clearance rate across Sydney on the weekend, according to Australian Property Monitors, up from 51% on the first weekend of the month.
APM senior economist Dr Andrew Wilson says the stamp duty revelations and 10 months of stable interest rate policy as well as the beginning of spring have given Sydney its highest auction clearance rate in two months.
Melbourne’s 55% clearance rate was a mirror image of the 55% on the September 3 weekend, but considerably down on 70% on the same weekend last year.
“Whilst buyers and sellers alike will have welcomed the decision by the Reserve Bank to keep interest rates stable it has not been enough to cause a substantial improvement in the Melbourne auction market,” Real Estate Institute of Victoria CEO Enzo Raimondo notes.
There have been a total of 561 auctions reported, of which 308 sold and 253 were passed in, 164 of those on a vendors bid.
About 1,400 auctions are scheduled in the two weekends before the AFL grand final in Melbourne.
The 83% Sydney clearance rate was derived from sales results with publicly declared prices. 
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jchancellor-FAypfDUnLy

Weekend auction wrap: Where the hammer fell

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<img src="/images/stories/117m.jpg">
The amount Chinese conglomerate <a href="https://www.propertyobserver.com.au/office/chinese-investors-snap-up-sydney-office-tower-for-%24117-million/2011091351519" title="Chinese investor snaps up Sydney office building" target="_blank">HNA Group paid to acquire 1 York Street from Colonial First State</a>. The 22-storey building formed part of the CFS’s unlisted direct property investment fund and has a net lettable area of 18,400 square metres. The sale price reflected an initial yield of 8.5%, with the deal negotiated by Vince Kernahan, Jon Chomley and Andrew Reed of Colliers International with Aurelio di Napoli from DTZ Sydney advising HNA together with Linda Zhu of DTZ’s Sydney-based China desk.
 
<hr>
<img src="/images/stories/3point78.jpg">  
The gross rental return achieved on a commercial property leased to the Commonwealth Bank that sold to an investor for $4 million. Bidding from four parties pushed the price to more than $6,700 per square metre. The property on Upper Heidelberg Road, Ivanhoe in Melbourne was sold by Fred Nucarra from Belle Real Estate. The bank’s lease on the property has two years to run with no option to renew.

 
<hr>
<img src="/images/stories/3point95m.jpg">  
The price achieved for a heritage Sydney office building with a ground-floor bar <a href="https://www.propertyobserver.com.au/office/keith-johnson-receivers-sell-skinny-sought-after-sydney-office-building/2011090851478" target="_blank">sold under receivers’ instructions at auction</a>. The 338 Kent Street building has a net lettable area of 493 square metres. The building is part of the 1888 Merchant and Partners warehouse building, which has stucco detailing designed in the Victorian Free Classical style. It was listed by receivers and managers Taylor Woodings through CB Richard Ellis agents Tim Grosmann and Rohan Ramsay.
 
<hr>
<img src="/images/stories/50mill.jpg"> 
The amount the Roman Catholic Archdiocese has paid for the former Bank of Queensland Centre at 229 Elizabeth Street from family construction business FA Pidgeon and Sons, reports the Australian Financial Review.

 
<hr>
<img src="/images/stories/5point27.jpg"> 
The yield achieved following the sale of a 529-square-metre retail and office property at 85-89 Cronulla Street in Sydney’s Sutherland Shire for $5.25 million. The sale was negotiated by Daniel O'Brien, an associate director at CBRE, who said investor demand for the area was improving.
 
<hr>
 
<img src="/images/stories/85m.jpg">
The estimated price global property manager RREEF is negotiating to buy a tower on Sydney’s Sussex Street from Eureka Funds Management. The property is located at 140 Sussex Street, with CBRE’s Rob Sewell Josh Cullen and Rick Butler handling the sales process. The 14-storey building has 12,400 square metres of net lettable area. Eureka bought the tower in 2005 for just under $60 million.
Know of a commercial sale? <a href="mailto:news@propertyobserver.com.au" title="Contact us" target="_blank">Let us know</a> to be included in next week's listing.
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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<img src="/images/stories/1point88.png">
The price an owner-occupier has paid for a freestanding industrial property just off Nunawading’s Golden Mile retail strip on Whitehorse Road in Melbourne’s eastern suburbs. The 19 Ceylon Street property was sold with vacant possession at auction at what is thought to be a record for the area of $2,272 per square metre. The sale was negotiated by Savills’ Adrian Smith. The property comprises a modern 828-square-metre building with a 280-square-metre office component over two levels, a high clearance warehouse with two roller shutter doors and 10 car spaces on a 996-square-metre site.
 
<hr>
 
<img src="/images/stories/9percent.jpg">
The yield on an office/warehouse acquired by Lend Lease’s managed Australian Prime Property Fund for $31.5 million. The commercial building is on a site covering 22,000 square metres at 1464 Fern Tree Gully Road in Knoxville in southeast Melbourne. The property was sold by listed entity CVC Property. The deal was negotiated by Tony Iuliano from Colliers. The sale price is $2.5 million higher than its carrying value of $29 million. The building is leased to Stramit Corp, part of the Fletcher Building Group, on a 12-year lease.
 
<hr>
<img src="/images/stories/78m.jpg"> 
The price that property group Dexus is expected to pay to acquire the Joseph Banks Corporate Park in inner Sydney. The office park, which comprises five buildings totalling 35,000 square metres, will be added to the $3.2 billion Dexus Wholesale Property Trust. The park was built at a cost of $45 million Michael Fenton and John Macree from Jones Lang LaSalle acted on behalf of owners the Grosvenor Group, which is looking to exit the Australian market, the Australian Financial Review reported.
 
<hr>
<img src="/images/stories/9percent.jpg"> 
The net yield that would be achieved on a fully leased retail property in the Nowra CBD on the NSW South Coast acquired by a private investor. The property at 96 Kinghorne Street was listed for sale at about $900,000 and was acquired as a vacant possession. It has 254 square metres of retail space with the deal negotiated by Ray White Commercial Shoalhaven agent Scott Baxter on behalf of Jason Porter from Pitcher Partners.
 
<hr>
<img src="/images/stories/11point5.jpg"> 
The amount Victorian-based syndicate The Property Advisory paid to acquire an office-warehouse at 105 Woodlands Drive in Braeside in South East Melbourne. The facility is leased to generator rental company Agrekko up until 2010. The 2.5-hectare site was marketed by Tony Iuliano from Colliers. The sale represents a yield of 9.4%.
Know of a commercial sale?<a target="_blank" href="mailto:news@propertyobserver.com.au"> Let us know</a> to be included in next week's listing.
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<img src="/images/stories/66682.gif" style="border-style: initial; border-color: initial;">
The annual net rent (excluding GST and statutory outgoings) that Silver Chair Café will pay to lease a 53-square-metre shop at 80 Waterloo Road, North Ryde, a commercial office building on the Sydney North Shore owned by Centuria Property Funds. The café is attached to the office building located near the Macquarie Shopping Centre. The shop was vacated by the sitting tenant, who sold his business, and Centuria simultaneously did a new lease with the purchaser at the time of the sale.  There was no agent involved. The café also has external area of approximately 42 square metres.


<hr>
<img src="/images/stories/8point2per.gif">
The percentage of gross lettable space that Woolworths will lease in <a target="_blank" href="https://www.propertyobserver.com.au/retail/woolies-and-k-mart-to-anchor-centro-s-new-property-group/2011102752101">Centro Retail Australia</a>, the new property trust set to rise from the ashes of embattled Centro Property Group. If approved by shareholders, the new entity will own and manage a portfolio comprising 99 shopping centres, with Woolworths and K-Mart the biggest tenants. Woolworths will have 29 tenancies while K-Mart’s 14 stores will take 7.8% of the gross lettable space. Coles, with 24 leases, will take up 7.2% of the gross lettable area available.
 
<hr>
 
<img src="/images/stories/5000sqm.gif">
The amount of space Colliers International has leased at 221 London Circuit in Canberra’s CBD. Tenants have come from private and government sectors, including Anglicare Australia, Organ and Tissue Authority, ACT government and Capgemini, to name a few. Michael Ceacis, associate director of government services at Colliers International, believes 221 London Circuit would still be largely vacant if the owners had not taken the initiative and refurbished the building. Located in the heart of the Canberra CBD, 221 London has 8,500 square metres of net lettable are across 11 levels. The Molonglo Group acquired the building in 2008 and has refurbished it to achieve a 4.5 star NABERS rating.
 
<hr>
<img src="/images/stories/33k.gif">The amount educational coaching specialist Edu-Kingdom College will pay annually in net rent as part of a new three-year office and warehouse lease at Springvale in Melbourne’s southeast. Edu-Kingdom‘s term includes two further terms of three years at the Unit 27, 134 Springvale Road. Savills Australia’s Joseph Catanese brokered the deal for the 545-square-metre building (NLA) with access to Springvale Railway Station, cafes and other amenities. The lessor was Speranzo Pty Ltd.
 
<hr>
<img src="/images/stories/80per.gif">
The occupancy ratio Dexus is targeting in its <a href="https://www.propertyobserver.com.au/office/government-aims-to-move-into-dexus-ultra-green-1-bligh-street/2011103052118">flagship 1 Bligh Street office tower by June 2012</a> after it was confirmed that the federal government intends to relocate the Commonwealth offices into the newly completed green-star office building.  Dexus shareholders have been advised the newly completed state-of-the-art building could be 67% leased by Christmas 2011. The property is currently about half-tenanted, and recently Bank of America Merrill Lynch analyst Simon Garing said it would take developer Dexus four years to fully lease the space. 

 
<hr>
<img src="/images/stories/10years.jpg"> 
The number of years that bakery/patisserie/café franchise The Jolly Miller will lease new retail space at the Healesville Walk Shopping Centre, about one hour northeast of  Melbourne, in a deal negotiated by Savills Australia. The franchise will open its sixth store in the centre after pre-committing to over 200 square metres of retail space situated next door to a branch of the National Australia Bank. Savills associate director retail services Michael Di Carlo says the store is expected to open in November this year following the completion of a refurbishment of the shopping centre by owner Australand. Di Carlo says while the rental is confidential, rents in the Coles Supermarket anchored centre ar in the vicinity of $500 per square metre.
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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Commercial leasing: Watch this space

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When only around 50% of auctioned properties are selling it can be difficult to work out which half will sell and which won't. Take for example 30 Elwood Street, Brighton and 15 Chastleton Avenue, Toorak. On paper both multimillion-dollar properties in blue-chip locations, with great parcels of land and homes have strong appeal. In a more stable markets both properties would attract strong interest and sell via a competitive auction. On Saturday however the outcome for both properties could not be more different.
While a crowd of 60 people watched the auction of 30 Elwood Street, the auctioneer failed to extract a single bid, and the property was passed in on a vendor bid of $2.4 million, $100,000 less than the agent's quote range. It could be argued that the fear of a European financial meltdown kept buyers away. But Chastleton Avenue, on the other hand, attracted four bidders who competed aggressively for the property before it was finally sold under the hammer for $4,135,000, more than $200,000 above the reserve.
The result illustrates that although there are still purchasers out in the marketplace with money there are not enough to cover all the available stock and selling property at auction this spring is a game of chance.
While the RBA's decision to cut rates will help build some long needed confidence in the market overtime it will take a few more rate cuts next year, as predicted by Westpac's CEO Gail Kelly, before enough buyers come out of the woodwork to re balance the market.
The remainder of 2011 will continue to be a buyers' market.
<img src="/images/stories/elwoodst.jpg">
30 Elwood Street, Brighton, VIC, 3186
Sale price: Passed in on a vendor bid of $2.4 million
Agent quote: $2.5 million to $2.75 million
% above agent quote: 0%
Bidders: 0
Last sold: May 1992 at $620,000
Growth since last sale:  7.19% (calculated on passed in value)
Median growth: 7.44%
Average tip: $2,805,750
% Correct tips 10.78%
<a target="_blank" href="https://www.propertytycoon.com.au">Property Tycoon</a> allows punters to guess auction results with no outlay.
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cknowlton-QnEa6ntUYP

Weekend auction tipping result

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<img src="/images/stories/25m.jpg">
The sale price achieved for a portfolio of five industrial warehouses across Victoria, New South Wales, Western Australia and Queensland sold by Jones Lang LaSalle via a sale and leaseback strategy on behalf of steel supplier Interlloy. The five warehouses on offer had varying lease terms between 12 and 15 years, with the facilities based in Henderson (WA), Dandenong (VIC), Minto and Albury (NSW) and Crestmead (QLD). David Butera and Andrew O’Connell of Jones Lang LaSalle Industrial co-ordinated the sale program.
 
<hr>
<img src="/images/stories/2point95.jpg"> 
The mount Sunshine Coast-based company LRBA paid for a retail complex at Emerald in central Queensland. The complex, which was sold with long-term tenants in place, was marketed by Ray White Commercial Maroochydore principal David C. Smith. The four tenancies in the complex are paying annual rent totalling almost $240,000, and they are all in long-term leases. The retail complex comprised of a net lettable area of approximately 860 square metre.
 
<hr>
<img src="/images/stories/1point89.jpg"> 
The listing price of the <a href="https://www.propertyobserver.com.au/rural/chinese-investors-buy-another-hunter-valley-winery/2011083051347" title="Capercallie Winery" target="_blank">16-hectare Capercallie vineyard in the NSW Hunter Valley</a>, which was sold to buyers from China. The property, with five hectares under vine, had been listed for sale by Alan Jurd and Cain Beckett from Jurd’s Real Estate. It last sold for $400,000 in 1995. The final price was not disclosed.
 
<hr>
<img src="/images/stories/20m.jpg"> 
The price <a href="https://www.propertyobserver.com.au/retail/russian-buys-%C2%A313-million-rolex-store/2011090251404" title="Rolex" target="_blank">Russian investor Grigory Guselnikov paid to buy the Rolex Retail Unit at One Hyde Park</a> in London one of the world’s most expensive residential projects, developed by the billionaire property developers the Candy Brothers. Jonathan O’Regan from Savills advised developer Project Grande (Guernsey) Limited on the sale. The Rolex store, at 100 Knightsbridge, is located across the road from Mandarin Oriental Hotel.


<hr>
<img src="/images/stories/7m.jpg">The amount Venus Construction has paid for a residential development site in Redfern in inner Sydney. The site is located at 153 George Street and covers more than 25,000 square metres. The sale was negotiated by CBRE’s Daniel O’Brien on behalf of Psychiatric Rehabilitation Australia in an off-market campaign.


<hr>
<img src="/images/stories/3point05.jpg">The sale price achieved for an over-50s resort featuring 99 relocatable homes in Goodna, about 25 kilometres south of Brisbane. The property was bought by Harvest Property at auction at a yield of 11.5%. It comprises more than 10 hectares and includes a nine-hole golf course, library and pool. The sale was negotiated by Trevor Weinert from Colliers on behalf of receivers. 
Completed a commercial sale? <a target="_blank" title="Email us" href="mailto:news@propertyobserver.com.au">Let us know </a>to be included in next week's listing.
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Few expect spring sales activity to gain much price momentum. And prices could comes under serious pressure if late listings swamp the market in the final six-week stretch home after Melbourne Cup, especially if buyers are wanting to see if prices come down further and sit on their hands for a little while to see if they do.
But Dr Andrew Wilson from Australian Property Monitors has made a big call that Sydney auction clearance rates will start to gradually track upwards.
“Growing buyer confidence and Sydney's chronic housing shortage will ensure increased buyer activity over spring,” Wilson forecasts.
He says Sydney will be Australia's most resilient housing market through the remainder of 2011, assisted, it seems, by his suggestion that the number of properties offered for auction each weekend won’t  grow too significantly over the next few months reflecting some ongoing wariness from sellers.
Melbourne buyers’ agent Mal James thinks the market has moved from an overall nothing winter market to a two-speed low-stock spring one.
“During this transition it has dropped in price with a few exceptions – courtesy of the share market malaise.
“If you have an A-grade home and you are priced to market then you are selling strongly and even slightly better than a month ago," James says.
“On the other hand, if you have a home that has issues with position, land content or floor plan, then your end sale result is continuing to ease and doesn’t look like getting any better this side of Christmas.”
During spring’s first Saturday – with barely an uptick in stock levels –auction clearance rates retained their cautious winter persona.
In Sydney, the clearance rate was 54.1%, almost unchanged from the 54.8% previous weekend tally, according to Australian Property Monitors.
The Real Estate Institute of Victoria figures had a 57% clearance – up from the revised 52% in the previous weekend, the lowest clearance seen so far this year. but with results still to come from 63 properties, the final result is expected to ease slightly. There were a total of 470 auctions reported, of which 268 sold and 202 were passed in, 140 of those on a vendor’s bid.
In Ipswich Queensland investors snapped up nine apartments in Ipswich's first high-rise residential tower Aspire.
There had been 44 residential apartments and three commercial units for sale after the developer, Dore Property Corporation, was forced into receivership after only selling about half the units on Ellenborough Street, Woodend.
With 104 units plus four split-level penthouse apartments, the 15-storey building was completed in 2008. The site had been bought for $1.1 million in 2005.
There were 62 registered bidders at the Ray White Ipswich helmsman-style auction.
Estate agent Warren Ramsey secured prices between $210,000 for a one-bedroom studio and $532,500 for a three-bedroom penthouse. The buyers were mostly local.
Initial off-the-plan prices ranged between $304,000 and $1.11 million.
<img src="/images/stories/4point7.jpg" style="border-style: initial; border-color: initial;">
 
The weekend’s top sell was a Sargood Street, Toorak house that fetched $4.7 million. It last traded at $2,151,000 in 2005. The 1930s, five-bedroom, four-bathroom house sold though agents RT Edgar after auction. Bidding opened at $4.2 million, according to James Buyer Advocates, and with two bidders it was passed in at $4.6 million.
 
<hr>
<img src="/images/stories/2number.jpg">
Melbourne had another two sales above $4 million, including a house on Nelson Road, South Melbourne at $4,215,000 and a house on Coppin Grove, Hawthorn at $4,110,000.
 
<hr>
<img src="/images/stories/1995.jpg"> 
Sydney’s top sale was $1,995,000 for a block of four two-bedroom apartments on Dudley Street, Coogee. It sold through Nelson Dueza at Century 21 Classic. The block was bought by a trio of young investors who are going to renovate the units and lease them long term.
 
<hr>
<img src="/images/stories/630.jpg"> 
The REIV is expecting a pickup on volumes over the next three weeks in the lead up to the October 1 grand final pause. The are 670 auctions scheduled for the September 17 weekend, according to REIV chief executive Enzo Raimondo.
 
<hr>
<img src="/images/stories/360.jpg"> 
Australian Property Monitors research analyst Clinton McNabb expects about just a slight increase to 360 auction next weekend from the 350 just gone. There are about 470 auctions scheduled for the September 17 weekend.
 
<hr>
<img src="/images/stories/628k.jpg"> 
Adelaide’s highest sale, according to APM, was a three-bedroom Beulah Park house sold through LJ Hooker Kensington agent Andrew Welch and Sam Trowse, who’d been seeking $550,000 plus. It last sold for $315,000 in 2006. It was a 1900 brick cottage on 440 square metres.
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School holidays, along with the grand final weekend, meant there were just the 47 auctions in Melbourne, where agents secured a 59% success rate. There was a 57% clearance rate from the 119 reported results in Sydney.
Melbourne’s dearest sale was $857,000 in Hughesdale. Melbourne’s clearance rate averaged just 54% in September, the lowest September since 2004. Stock levels are set to rise to 565 auctions next weekend and to 730 auctions in a fortnight, according to the Real Estate Institute of Victoria, with the real test towards the end of October when 850 properties go under the hammer.
Sydney’s dearest weekend sale was in Maroubra yesterday at $2.7 million through Ray White agents Phillip Elmowy and Nader Hotait. The house was built in 2003 on a hillside block that cost $670,000 in 1994.
Sydney's median house price for the three months to August fell by 1.8% to $643,315, compared with the previous quarter, according to the latest Australian Property Monitors data.
The median price for units also fell by 1.8% to $448,024.
Despite these falls, the median house price has decreased by just 0.6% over the year to August, with the median price for units remaining stable, according to Dr Andrew Wilson, the senior economist for Australian Property Monitors
Sydney's house price performance over the past year remains the best of all capitals, and equal to Canberra's, which was also down by 0.6%.
Only Darwin recorded a better performance in median unit price growth.
The main division in the various Sydney markets was between properties priced under $1 million and those above $1 million, according to estate agent John McGrath.
"Under $1 million is performing actually quite well and over a million is still the quieter part of the market," he told Fairfax Media. 
John McGrath offered a regional metropolitan snapshot for Sydney, including:
Western suburbs - Job fears hinder activity
Parramatta region - Good sales up to $600,000
Hills district - Performing well under $1 million
Upper north shore - Strong up to $1.25 million
Northern beaches - Buyers less confident, hesitant
Lower north shore - Investor market strong
Eastern suburbs - Good sales under $1 million
Inner west - Young professionals driving market
South - Strong in St George, less so in Sutherland shire
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<img src="/images/stories/architect.gif">
- The Real Estate Agents Authority of New Zealand, which  has slammed local agents for <a href="https://www.nzherald.co.nz/residential-property/news/article.cfm?c_id=76&amp;objectid=10756666" target="_blank">claiming houses are "architect-designed" when they are not</a>. 
 
 
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Quote of the week

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The so-so September auction results – and associated overly negative headlines – have thwarted the anticipated surge in October listings.
The discretionary vendors of Melbourne and Sydney have possibly postponed listings until 2012.
October stock levels seem set to be down by about 20% on last year in both capitals.
Despite the subdued spring volume, it’s still a buyer’s market, albeit there are the occasional strong prices.
Sydney vendors notched up a 55% clearance rate from its 314 weekend listings.
Melbourne recorded a 53% clearance rate from its 557 listings.
Both capital city clearance rates are down on the same time last year, when Sydney achieved 60% and Melbourne 62% from the corresponding weekend of 2010.
Any late surge in listings in November or December could test the market, which has effectively been in a cooling state of equilibrium now for much of this year.
The most expensive home sold at auction at the weekend was a four-bedroom house in the Sydney suburb of Mosman. Its $3.05 million sale fell well short of its initial $3.7 million plus hopes when it was marketed in August – and well below the then revised expectations of $3.5 million in September. It last sold at $2.6 million in September 2009 and before that at $3 million in 2007.
Things were far more bullish for the most expensive Melbourne property – a double-fronted three bedroom Victorian era house in Hawthorn – which had been quoted by Jellis Craig at between $1.6 million and $1.8 million.
The property was on the market at $1.7 million and sold for $2,225,000.
The Johnson Street vendors knocked back a pre-auction offer of $1.7 million.
Melbourne buyers’ agent Greville Pabst says the reduced volume was due to the vendors holding back in anticipation of improved selling conditions.
“This decision follows months of poor sentiment propagated by media reports of falling house price and delicate economic conditions,” Pabst says.
“While diminished in quantity, there remains a revolving stock of quality properties of various asset classes in high-performance areas across Melbourne.
“Selecting these limited number of properties requires due diligence on behalf of buyers, but is a process that will yield significant long-term benefits if undertaken correctly,” Pabst suggests.
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