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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122 new social and affordable homes are being developed in South Western Sydney.
Minister for Families, Communities and Disability Services Gareth Ward said the completion of BaptistCare’s Narralling Community in Elderslie is the latest milestone in the NSW Government’s $1.1 billion Social and Affordable Housing Fund (SAHF).
“A strong pipeline of modern, fit-for-purpose new homes is helping reduce housing stress and is providing secure housing for people who need it most,” Mr Ward said.
“This project is an excellent example of the work the NSW Government is doing in collaboration with community housing providers, which is not only creating great social outcomes but also significant economic benefits in the form of local jobs.”
The project consists of 84 one-bedroom villas for seniors and 38 two-bedroom townhouses for single-parent families. The complex features landscaped gardens, a BBQ area, community centre, a veggie garden and playground
BaptistCare CEO Charles Moore said BaptistCare is delivering 500 homes as part of the SAHF, which will support people facing rental stress and homelessness. 
The SAHF is an initiative of <a href="https://protect-au.mimecast.com/s/6gTxCp818qh1M9gDfD02YM?domain=facs.nsw.gov.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/6gTxCp818qh1M9gDfD02YM?domain%3Dfacs.nsw.gov.au&amp;source=gmail&amp;ust=1606869169026000&amp;usg=AFQjCNGhhe5mPjhY-TMbdxArJLKYmv7Hog">Future Directions of Social Housing in NSW</a>, the NSW Government’s plan to deliver more and better social housing across the state.
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j.ballantyne1990-6AQqhLzZaK

New social housing for Sydney's South West

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The RBA have kept the official interest rate on hold at the final meeting of 2020, also reaffirming their previously announced quantitative easing policy.
RBA governor Philip Lowe said In Australia, the economic recovery is under way and recent data has generally been better than expected.
CoreLogic's head of research Tim Lawless says the RBA remains in ‘wait and see’ mode as the earlier heavy lifting on monetary policy flows through to the Australian economy. 
"Labour markets are tightening, housing prices are broadly rising, credit flows are trending higher and consumers are more confident now than they were leading up to the pandemic," Lawless says.
"Most indicators are pointing towards a faster than forecast recovery thanks to record low interest rates along with ongoing fiscal support and containment of the virus."
As part of the Finder.com.au RBA Cash Rate Survey, AMP Capital economist Shane Oliver says the first rate hike is unlikely until sometime in 2024.
"Given that the cash rate is already at 0.1% and the RBA does not want to take it negative, the next move is likely to be a hike. But given the high level of spare capacity in the economy, inflation is unlikely to meet the RBA’s conditions for a hike of being sustainably within the 2-3% target range for another three years or so," Oliver says.
Since the last -0.15 per cent cash rate cut on November 3 which took the official rate down to a record low 0.1 per cent, financial comparison website Canstar have found that 25 lenders have cut variable home rates by an average of -0.17 per cent.
There have been significantly more cuts in the fixed rates as lenders seek to gain the market share. 
Some 63 lenders have cut 1,138 fixed rates by an average of -0.31 per cent.
A number of lenders have reduced their floor rates to under five per cent, which Laing+Simmons managing director Leanne Pilkington says could potential deliver a major boost in borrowing capacity.
Pilkington, also the REINSW president, says however that the real winners are likely to be vendors.
“Vendors already have reason to be confident," Pilkington says.
"Clearance rates are strong, the supply shortage ensures a large buyer pool for available properties, strong prices are being achieved and low interest rates give buyers the confidence to proceed.
“Now, it appears those buyers will be able to borrow more. The buyer pool for properties coming to market potentially grows larger. More competition from more finance-ready buyers is great news for vendors.”
Floor rates are used by lenders to guide their assessment of a customer's borrowing capacity.
Finsure managing director John Kolenda says expectations of a spending spree in the lead up to Christmas this year also augured well for the domestic economy.
“There are some very positive signs of a rebound with consumer confidence and spending on the rise, which is an indicator we have likely seen the worst of the downturn,” Kolenda said.
“I expect the property market will be a strong feature of the national economy over the coming 12 months with strong results being recorded around the country.
“All signs across the economy indicate we might have hit the bottom and that rates have also hit that level and we are not likely to see any further easing in the foreseeable future." 
 
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jrobinson-rf4aSBido9

RBA stick with interest rate, QE policy at December meeting

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The RBA kept the official cash rate at a record low 0.1 per cent at its December 2020 meeting.
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At its meeting today, the Board decided to maintain the current policy settings, including the targets of 10 basis points for the cash rate and the yield on 3-year Australian Government bonds, as well as the parameters of the Term Funding Facility and the government bond purchase program.
Globally, the news has been mixed recently. On the one hand, infection rates have risen sharply in Europe and the United States and the recoveries in these economies have lost momentum. On the other hand, there has been positive news on the vaccine front, which should support the recovery of the global economy.
The recovery is also dependent on ongoing support from both fiscal and monetary policy. Hours worked in most countries remain noticeably below pre-pandemic levels and inflation is low and below central bank targets.
Financial conditions remain accommodative around the world, with bond yields near historically low levels. The positive news on vaccines has boosted equity markets, lowered risk premiums and supported further increases in some commodity prices.
The improvement in risk sentiment has also been associated with a depreciation of the US dollar and an appreciation of the Australian dollar.
In Australia, the economic recovery is under way and recent data have generally been better than expected.
This is good news, but the recovery is still expected to be uneven and drawn out and it remains dependent on significant policy support. In the RBA's central scenario, it will not be until the end of 2021 that the level of GDP reaches the level attained at the end of 2019.
In the central scenario, GDP is expected to grow by around 5 per cent next year and 4 per cent over 2022.
Employment growth was again strong in October, although the unemployment rate increased to 7 per cent as more people rejoined the workforce. A further rise in the unemployment rate is still expected, as businesses restructure in response to the pandemic and more people rejoin the workforce. The unemployment rate is forecast to decline next year, but only slowly and still to be around 6 per cent at the end of 2022.
The extended period of high unemployment and excess capacity is expected to result in subdued increases in wages and prices over coming years. In the September quarter, the Wage Price Index increased by just 0.1 per cent, to be 1.4 per cent higher over the year.
In underlying terms, inflation is forecast to be 1 per cent in 2021 and 1½ per cent in 2022.
The Board views addressing the high rate of unemployment as an important national priority. Its policy decisions over recent months will help here. These decisions are complementary to the significant steps taken by Australian governments to support jobs and economic growth.
The Bank's policy response has lowered interest rates across the yield curve, which will assist the recovery by: lowering financing costs for borrowers; contributing to a lower exchange rate than otherwise; and supporting asset prices and balance sheets.
The Term Funding Facility is also supporting the supply of credit to businesses. To date, authorised deposit-taking institutions have drawn down $84 billion under this facility and have access to a further $105 billion.
Over the past month, the Bank has bought $19 billion of government bonds under the bond purchase program and a further $5 billion of Australian government securities in support of the 3-year yield target. Since the start of this year, the RBA's balance sheet has increased by around $130 billion.
Given the outlook for both employment and inflation, monetary and fiscal support will be required for some time. For its part, the Board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.
For this to occur, wages growth will have to be materially higher than it is currently. This will require significant gains in employment and a return to a tight labour market. Given the outlook, the Board is not expecting to increase the cash rate for at least 3 years.
The Board will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation.
The Board is prepared to do more if necessary.
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<div class="box-enquiries"> </div>
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High unemployment rate is the priority: RBA Governor Philip Lowe's December 2020 meeting statement

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A mix-used, freehold asset in Sydney’s Balmain has sold to a local investor.
Situated at 205 Darling Street, the 116sqm property offers views of the Sydney skyline and sold for $1.4 million.
The home was listed on the market for over 200 days, after being listed previously without sale in 2018.
Achieving a yield of 4.2 per cent, the site offers a diversified income stream with its ground-floor being let to an art school and a residential tenant occupying the upstairs space.
The one-bedroom apartment upstairs featured two balconies, a rooftop terrace, and private garden access via Queens Place.
Savills Australia’s Nick Lower, Selin Ince and Oliver Ridley negotiated the deal.
“With retail trading at sub 5 per cent, it is clear consumer sentiment is on the rise, and investors are taking advantage of current market conditions in order to secure premium property”, they said.
The property is located in close proximity to the Sydney CBD and is only moments to Darling Street’s retail precinct.
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Mixed-use freehold asset in Sydney's Balmain sells for $1.4 million

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ABS Building Approvals data for October continues to show the positive impact of HomeBuilder on the detached house market with the highest number of approvals since early 2000, according to HIA Economist, Angela Lillicrap.
“HomeBuilder was the catalyst for improving consumer confidence in the housing market. The strength of building approvals is due to several factors including low interest rates and changes in consumer preferences."
“HIA New Home Sales data suggests that detached house building approvals will continue to be strong over the coming months. The extension of HomeBuilder will see these strong results carry on well into 2021," added Ms Lillicrap.
Detached house approvals increased by 18.6 per cent in the three months to October 2020 compared to the preceding three months and are 23.2 per cent higher than the same time last year.
Western Australia has seen the largest improvement in the last three months with detached housing approvals 62.8 per cent higher than the same time last year. This is due to the pent up demand for new housing in the state, as well as other state government stimulus measures.
Queensland and the Northern Territory have also experienced strong increases in detached housing approvals, up by 33.0 per cent and 30.6 per cent respectively, on the preceding three months.
Multi-unit approvals remain 12.5 per cent lower than the same time last year.
"The small number of multi-unit projects that gained approval in October are likely to have commenced the planning and building approval process years ago. These are not a good indicator of prospective commencements in this part of the market."
"Slower population growth, particularly in Sydney and Melbourne, and an increased preference for detached houses, will likely see demand for apartments constrained going into 2021,” concluded Ms Lillicrap.
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Detached dwelling approvals soar in WA followed by Victoria, Queensland and NSW

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GUEST OBSERVATION
Before the COVID-19 pandemic, <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/Quick_Guides/OverseasStudents">about two in every five</a> international students enrolled in Australian higher education institutions were from mainland China. Across the education sector, Chinese students brought in <a href="https://www.austrade.gov.au/news/economic-analysis/chinese-education-exports-reach-10-billion">more than $A10 billion a year</a>. During the pandemic, <a href="https://theconversation.com/the-coronavirus-outbreak-is-the-biggest-crisis-ever-to-hit-international-education-131138">Australian universities have struggled</a> to retain and recruit international students.
The <a href="https://www.sbs.com.au/language/english/international-students-from-only-these-countries-will-be-returning-to-australia-in-2020">first returning students</a> are due to fly out under a pilot scheme this weekend, <a href="https://www.cdu.edu.au/international/cdu-charter-flight">arriving in Darwin on Monday</a>. But numbers are very limited due to quarantine requirements.
It’s <a href="https://theconversation.com/our-unis-do-need-international-students-and-must-choose-between-the-high-and-low-roads-149973">essential to recruit and retain</a> international students to sustain and develop Australian higher education. The <a href="https://theconversation.com/covid-19-what-australian-universities-can-do-to-recover-from-the-loss-of-international-student-fees-139759">loss of international student fee revenue</a> has prompted universities to make <a href="https://theconversation.com/as-universities-face-losing-1-in-10-staff-covid-driven-cuts-create-4-key-risks-147007">large job cuts</a>. Many are expected to <a href="https://theconversation.com/without-international-students-australias-universities-will-downsize-and-some-might-collapse-altogether-132869">downsize. Some might collapse</a>.
Competition calls for proactive measures
Pilot schemes to bring back small numbers of international students to <a href="https://www.cdu.edu.au/news/cdu-first-university-australasia-welcome-back-international-students">Darwin</a>, <a href="https://www.sbs.com.au/language/english/south-australia-s-covid-cluster-casts-shadow-on-pilot-plan-to-fly-back-international-students">Adelaide</a> and <a href="https://www.canberratimes.com.au/story/6881882/international-students-unlikely-to-return-to-act-this-year-as-uc-vice-chancellor-officially-welcomed/">Canberra</a> were announced months ago. However, with <a href="https://www.sbs.com.au/language/english/australia-to-delay-return-of-more-international-students-pm-scott-morrison">priority being given to quarantining returning Australians</a>, the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-10-14/nt-howard-springs-australian-repatriation-plans-coronavirus/12766352">students’ return was delayed</a>.
Australian universities also have other challenges to overcome.
The <a href="https://theconversation.com/why-the-australia-china-relationship-is-unravelling-faster-than-we-could-have-imagined-145836">unravelling relations</a> between Australia and China, if not managed well, may cast a dark shadow over educational exchanges.
Besides, Australia’s pilot plans are small in scale and slow in pace compared to its competitors. British universities such as Queens University Belfast and the University of Manchester have <a href="https://monitor.icef.com/2020/09/uk-universities-charter-flights-to-bring-international-students-back-to-campus/">chartered flights</a> to bring students from China back to campus. Canada <a href="https://dailyhive.com/vancouver/international-students-travel-canada-covid-19">re-opened its border</a> to all international students on October 20.
The Australian government and higher education sector must be more proactive to remain competitive in international education. Based on my experience as a teacher and researcher of Chinese international students, five approaches are worth considering.
Treat those who are here better
Perhaps somewhat counter-intuitively, <a href="https://theconversation.com/4-out-of-5-international-students-are-still-in-australia-how-we-treat-them-will-have-consequences-145099">a majority</a> of Australia’s international students remain onshore. The most direct and probably most efficient measure to attract more of these students is to treat those who are already here better.
Universities also have professional and moral obligations to look after students who could not return home to their loved ones. Many are far away from their support networks and unfamiliar with support arrangements in Australia.
Australia is very different from their home country in language, culture, values, governance and politics. COVID amplified the culture shocks and psychological pressures.
Despite being unable to travel due to border closures, international students know and <a href="https://theconversation.com/4-out-of-5-international-students-are-still-in-australia-how-we-treat-them-will-have-consequences-145099">often compare</a> how different countries are treating them. Their opinions, based on first-hand experience, can influence decisions on studying abroad by friends and relatives back home as well as members of their social networks.
According to my Chinese international students onshore, fee reductions, personalised care, Chinese-language support services and internship and work opportunities are among the best ways to win them over.
Integrate all students in virtual communities
It’s unlikely students now in China will be allowed to enter Australia en masse any time soon. Many universities continue educating these students through remote teaching and learning activities. However, as one Chinese international student said, her friend in China who attends classes on Zoom “<a href="https://pursuit.unimelb.edu.au/articles/the-international-students-trying-to-understand-australia-from-afar">constantly feels lost</a>” due to the “lack of personal experiences [of Australia]”.
Universities need to do much more than providing extra study materials to download. To keep offshore students engaged, universities must ensure they remain full members of the class despite their physical absence. Ways to do this include deliberately mixing them with onshore students for peer mentoring and collective assignments.
<a href="https://journals.sagepub.com/doi/10.1177/0092055X16631126">Research</a> shows local students are much more likely to engage with international students when they can learn from them. And creating opportunities for international students to share their knowledge can empower them.
Help with cross-border travel
Remote education, if well designed, can keep some offshore students enrolled. However, as Monash University vice-chancellor <a href="https://www.theage.com.au/national/deadline-looms-for-universities-foreign-students-20200915-p55vwi">Margaret Gardner points out</a>, teaching online is “a stopgap, not a solution”, because students don’t “have the full experience”.
And students’ inability to travel is a source of <a href="https://theconversation.com/covid-19-increases-risk-to-international-students-mental-health-australia-urgently-needs-to-step-up-137596">pressure and anxiety</a>.
Considering that both Australia and China have largely <a href="https://covid19.who.int/table">controlled the virus</a>, the time is ripe for planning a “travel bubble”. Making travel between the countries easier could win the favour of many Chinese students.
Send the right signals
Prime Minister Scott Morrison’s “<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-03/coronavirus-pm-tells-international-students-time-to-go-to-home/12119568">go home</a>” message to international students in early April was widely regarded as selfish and unsympathetic in Chinese social media. The damaging effect of such remarks can outweigh other <a href="https://ministers.dese.gov.au/tehan/message-international-students">messages of solidarity</a> with these students.
The government’s decision in August to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-09-09/chinese-scholars-have-visas-revoked-as-diplomatic-crisis-grows/12644022">revoke the visas</a> of two leading Australian studies experts from China also <a href="https://www.scmp.com/week-asia/politics/article/3101055/chinese-academics-australia-shocked-fear-chilling-effect-after">shocked</a> many Chinese-born academics and students in Australia. The lack of information, beyond citing security concerns, left room for <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/backgroundbriefing/scholars-australia-china-espionage-spies-visas-threat/12744392">speculation</a> about whether broader anti-China politics was involved.
Chinese students will only enrol in Australian universities if they and their parents consider the country safe and comfortable to study and live. For Australia to remain a desired study destination, the government needs to send clear and consistent signals.
Embrace Australia’s multiculturalism
Multiculturalism is one of Australia’s finest achievements. Unfortunately, the pandemic has surfaced a degree of <a href="https://theconversation.com/garbage-and-cash-cows-temporary-migrants-describe-anguish-of-exclusion-and-racism-during-covid-19-146098">exclusion and racism towards temporary visa holders</a>, including international students. Anti-Chinese incidents prompted the Chinese government <a href="https://theconversation.com/students-in-china-heed-their-governments-warnings-against-studying-in-australia-141871">to warn</a> in June against studying in Australia.
Some Chinese students defended Australia as <a href="https://theconversation.com/i-love-australia-3-things-international-students-want-australians-to-know-139857">a safe and desirable study destination</a>. Still, many reported they <a href="https://theconversation.com/students-in-china-heed-their-governments-warnings-against-studying-in-australia-141871">would consider their government’s warning</a>.
Chinese-born communities, including international students, have greatly enriched the diversity of Australian society. Yet many policymakers and educators have long framed the need to engage with Asia and China along utilitarian lines such as creating jobs or bringing in money.
These discourses may unintentionally create a <a href="https://www.uwa.edu.au/news/article/2020/september/ppi---multiculturalism-is-the-ultimate-case-for-teaching-and-learning-asian-languages-in-australia">status of otherness</a> for Australia’s Chinese-born communities. Many of my students have told me they believe the universities see them as cash cows. They, in turn, consider themselves more as customers than learners.
To get ahead in the increasingly competitive global education market, Australia should integrate international students more meaningfully into its society. Ultimately, making these students feel proud of their contribution to Australian multiculturalism is probably the most sustainable way to strengthen their bonds with their host country.
<hr>
This article has been edited to clarify that the $10 billion contribution to the economy of Chinese international students is across the education sector.<img src="https://counter.theconversation.com/content/148444/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/yu-tao-325871">Yu Tao</a>, Senior Lecturer in Chinese Studies, <a href="https://theconversation.com/institutions/university-of-western-australia-1067">University of Western Australia</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/5-ways-australia-can-get-ahead-in-attracting-and-retaining-chinese-international-students-148444">original article</a>.
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5 ways Australia can get ahead in attracting Chinese international students

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Building approvals for private sector houses rose for the fourth consecutive month in October and were at the highest recorded level since February 2000, according to data released by the Australian Bureau of Statistics.  
Building approvals saw a surprise 3.8 per cent rise in October, with many forecasting a contraction following a huge September spike.
Westpac had forecast approvals would slip back three per cent. 
Daniel Rossi, director of construction statistics at the ABS, said the continued strong demand for detached housing follows the relaxation of COVID-19 restrictions in most states and territories.
"Record low interest rates and a range of Federal and state-based incentives are also providing support for the housing sector,” Rossi said.
Housing Industry's Association's Craig Jennion said the figures show the start of the impact of stage one of HomeBuilder.
Last month the total number of dwelling approvals rose by 15.4 per cent to be 8.8 per cent higher than a year ago.
The October gains of nearly four per cent put approvals over 14 per cent higher than they were this time last year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/DEC/1/October%20ABS%20building%20approvals.jpg" alt="">
There were a further 10,692 private sector houses approved, up 3.1 per cent from September and 31.7 per cent from 12 months ago.
It's now back to back approvals of over 10,000 private sector houses. There hadn't been a single month of over 10,000 private sector houses approvals since June 2018.
There were 16,584 apartments approved, 3.8 per cent up from last month and 14.3 per cent up from the last year.
The biggest spike was seen in New South Wales where a further 32 per cent of apartments were approved from last month, with 4695 units approved.
Victoria unsurprisingly contracted from its big September approval figures, back 15 per cent but still had nearly 300 more apartments approved than New South Wales (4946)
 
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House approvals rise to 20 year high in October

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Capital city home prices up, what happened to the downturn? Shane Oliver

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Despite rental affordability across Sydney improving in the past year the NSW capital remains critically unaffordable to significant proportions of the renting population, especially very low and low-income households, the latest release of the Rental Affordability Index (RAI) has found.
Greater Sydney’s affordability is the highest recorded over the past eight years, improving by 5.7 per cent in the past 12 months – which has almost entirely been driven by the decline in rents caused by the onset of the COVID-19 pandemic. It is the only city which has shifted from moderately unaffordable to acceptable rents, despite affordability improving across most metropolitan regions.
Despite the lower rental rates, the difference for very low-income households is negligible, as they still face severely unaffordable rents across Sydney.
The RAI is an indicator of the price of rents relative to household incomes based on new rental agreements. It is released annually by National Shelter, Bendigo and Adelaide Bank, SGS Economics &amp; Planning and the Brotherhood of St Laurence. The report provides an indication on the impact of early COVID-19 responses and supplement payments, measuring rental affordability for households until the June quarter 2020.
A score of 100 on the RAI indicates that households are spending 30 per cent of their income on rent, which would cause low-income households to be in rental stress. They may have to forgo necessities including food, power and medical care to make ends meet. A score of 100-120 shows that households are facing moderately unaffordable rents.
With a score 126 in the June quarter of 2020, rents have shifted from moderately unaffordable to acceptable, on average, in Sydney. The average rental household in Greater Sydney spends about 24 per cent of its total income on rent – which is the same in regional NSW, which has an RAI score of 124.
However, lower-income households have to fork out a much higher proportion of their income to afford a roof over their heads in Greater Sydney:
<ul>
<li>Single person on JobSeeker: 69 per cent of income (extremely unaffordable)</li>
<li>Single pensioner: 79 per cent of income (extremely unaffordable)</li>
<li>Pensioner couple: 53 per cent of income (severely unaffordable)</li>
<li>Single part-time worker parent on benefits: 47 per cent of income (severely unaffordable)</li>
<li>Full-time hospitality worker: 35 per cent of income (unaffordable)</li>
</ul>
Regional NSW is the second least affordable rest of state areas with an RAI score of 124, behind regional Tasmania (114). The average household seeking to rent in regional NSW would face rent levels at 24 per cent of its total income, which means rents remain acceptable to affordable across regional NSW. As households move from the city to regional centres, this may impact affordability.
In Victoria, there is a massive need for government investment in social and affordable housing – and now is the time for it since borrowing costs are so low in Australia. Without investment in this space, we are ignoring our responsibility to help people be decently housed.
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Low income households face unaffordable rents: RAI

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For some years now Modern Monetary Theory (MMT) has been gaining prominence as a solution to the perceived failure of traditional economic policies to achieve full employment and meet inflation targets, despite at or near zero interest rates.
MMT basically advocates using printed money from the central bank to directly finance government to spending, which boosts the economy. This concept is not new.
However, it has been given added impetus by the hit to economic activity from coronavirus. And with even Reserve Bank of Australia Governor Philip Lowe referring to it in question time after an address last week.
But can it help or is it just another fad like monetary targeting?
MMT does provide some useful insights or reminders
The experience over the last decade has highlighted the already well-known failings of the quantity theory of money.
Put simply there are different forms of money and its speed of circulation in the economy (or V) is not constant.
For example, quantitative easing (QE) led to an increase in the money supply in Europe, the US and Japan last decade but it was narrow money (like cash and bank reserves) not credit and the circulation of money through the economy slowed so there was not much, if any, increase in inflation.
MMT reminds us that, as long as there is spare capacity in the economy, using printed money to finance public spending should not be inflationary.
This is consistent with the experience of last decade which was characterised by spare capacity globally and taken together with a fall in the velocity of circulation of money in the economy explains why inflation did not take off despite QE boosting the money supply.
After all, using government spending to employ unemployed workers also has merit. In fact, it’s standard Keynesian economics.
But what are the problems with MMT?
While MMT provides some useful insights it has big problems:
First, it gives the impression there is always some sort of free lunch. That the central bank can just print money – like some sort of Magic Money Tree – and all economic problems can be solved. But as an old friend of mine used to repeatedly remind me, “you can’t make something out of nothing.” Of course, in the current environment of high unemployment and inflation below target, there perhaps is a bit of a free lunch if more government spending financed by money printing can result in full employment and boost inflation back to target.
But contrary to what some MMT supporters imply, the economy is not always in a position of spare capacity.
Second, the traditional concern about budget deficits and rising public debt is not always overblown. When the economy is strong, it can cause overheating as the competition for workers and funding can push up wages, prices and interest rates “crowding out” more productive private sector activity. Budget deficits and high public debt are not a problem now as there is spare capacity, economies are not overheating and interest rates are low but this won’t always be the case.
Third, MMT underestimates the costs and low productivity associated with large scale public employment programs. This has been evident in the failure of “work for the dole” schemes in Australia to make much headway. The more fundamental problem with MMT is that governments may have trouble turning off the monetary and fiscal stimulus when spare capacity is used up and inflation hots up.
Not only is it hard to get the timing right economically, but it’s compounded by politicians in government having an incentive to keep the stimulus going to get re-elected. Politicians risk becoming addicted to the flow of money from the central bank’s Magic Money Tree, resulting in wasteful government spending and eventually high inflation or hyperinflation.
And once the inflation genie gets out of the bottle, it’s hard to get it back in as we saw in the 1970s.
This is precisely why central banks are independent of politicians.
For now, spare capacity is massive which is keeping inflation is below target and so there is plenty of room for big budget deficits and this may remain the case for a while – so interest rates could remain low for several years.
But the combination of massive quantitative easing and fiscal spending along with increasing talk of MMT highlights that policy makers are increasingly focussed on taking more risks with inflation.
Ultimately the combination of ultra-easy monetary policy, huge budget deficits and a retreat from globalisation will add to the risk of an eventual pick-up in inflation - but at this stage this looks like something to be wary of on a five to ten-year horizon, but not right now. 
SHANE OLIVER | Head of Investment Strategy and Chief Economist | AMP Capital
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