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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One of the many things COVID-19 has had a dramatic impact on is the way many of us work.
Those fortunate enough to be able to work from home have been able to adapt to this new reality – and it certainly has been “new”.
Perhaps the biggest question for both employers and employees is whether working from home has led to a decrease in productivity.
The fact major companies such as <a href="https://www.nytimes.com/2020/05/21/technology/facebook-remote-work-coronavirus" target="_blank">Facebook</a> and <a href="https://www.forbes.com/sites/jackkelly/2020/05/13/twitter-ceo-jack-dorsey-tells-employees-they-can-work-from-home-forever-before-you-celebrate-theres-a-catch/#765a70652e91" target="_blank">Twitter</a> have said they will allow many employees to work from home permanently suggests work in some sectors can be done more efficiently outside a formal workplace.
At a minimum, time saved from commuting and greater flexibility to multitask other elements of one’s life are positives from working from home. Lack of social interaction and the inevitable distractions in most home environments are negatives.
The degree and extent of increased productivity from working at home remains to be seen. It will depend on the way in which working in a team has evolved in a remote environment using online tools like Slack and Zoom.
The big question is how the nature of collaboration has changed under COVID.
<h2>Studying 3 million people</h2>
Thanks to <a href="https://www.nber.org/papers/w27612" target="_blank">a fascinating analysis</a> by researchers from the Harvard Business School and New York University, we are beginning to get the first systematic evidence on how the nature of work has changed for those working from home during COVID-19.
The authors gathered aggregated meeting and email meta-data for 3,143,270 people working for 21,478 companies in 16 cities in Europe, the United States and Israel where government-mandated lockdowns were imposed in March.
As the authors put it:
<blockquote>
These lockdowns established a clear break point after which we could infer that people were working from home. The earliest lockdown in our data occurred on March 8, 2020, in Milan, Italy, and the latest lockdown occurred on March 25, 2020, in Washington, DC.
</blockquote>
To explore changes in worker behaviour, their analysis compares meeting and email data during the lockdown periods (typically a month long) with data for the eight weeks prior and the eight weeks after lockdowns ended.
The data they used came from “an information technology services provider that licenses digital communications solutions to organisations around the world”.
This meta-data indicates the actual behaviour of employees in real organisations. So it’s more robust than, say, a survey asking people what they did. Survey respondents might not remember accurately, or might not tell the truth, and those that respond may not be a representative sample.
In short, the meta-data enables the authors to draw detailed and interesting conclusions that survey data would allow.
It’s the detail of a paper like this that is, in a sense, the whole point. But the bottom line is this. Lockdowns have reduced the amount of time most workers spend in meetings, but increased their working hours.
<h2>Time in meetings</h2>
Their results show the number of meetings attended by workers increased, on average, by 12.9% during lockdown – with the average number of attendees per meeting increasing by 13.5%.
Impact of COVID-19 lockdowns on meetings
<a href="https://images.theconversation.com/files/351458/original/file-20200806-22-173asvd.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351458/original/file-20200806-22-173asvd.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Impact of COVID-19 lockdowns on meetings."></a>
<a class="source" href="https://www.nber.org/papers/w27612" target="_blank">NBER Working Paper No. 27612, July 2020</a>, <a class="license" href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>
But the average length of meetings fell by 20.1%, with the net effect being that people spent 11.5% less time in meetings.
In European cities such as Brussels, Oslo and Zurich, meeting length declined sharply and continued to fall in the month after the beginning of the lockdown. In the US cities of Chicago, New York and Washington DC, length of meetings declined less.
Email and working hours
There was, also, a significant and seemingly durable increase in working hours, based on the number of hours between the first and last email sent or meeting attended by an individual in a day.
On average, the length of the average workday increased by 48.5 minutes.
Impact of COVID-19 lockdowns on email
<a href="https://images.theconversation.com/files/351460/original/file-20200806-14-1x9tdkp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351460/original/file-20200806-14-1x9tdkp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Impact of COVID-19 lockdowns on email."></a>
<a class="source" href="https://www.nber.org/papers/w27612" target="_blank">NBER Working Paper No. 27612, July 2020</a>, <a class="license" href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>
Longer workdays were common across the 16 cities during lockdowns. When restrictions were lifted, average hours returned closer to pre-lockdown levels in all but three cities – San Jose, Rome and New York City.
<h2>The evolving nature of work</h2>
It is perhaps too early to draw strong conclusions about these changing patterns of communication. But there are some intriguing possibilities.
Larger meetings may be needed to get “everyone on the same page” and create what economists call “common knowledge”. This may be both easier to do in phone or video conferences, and also more important in the absence of face-to-face communication.
Consistent with this, electronic communications extending beyond normal work hours seems like an inevitable consequence, albeit a negative one for work-life balance, particularly for people with caring responsibilities.
The nature of work was evolving before COVID-19, and it will continue to do so as many parts of the world continue with various forms of physical distancing.
Documenting the nature of that evolution, as well as the implications for productivity, workplace culture, and time outside of work will continue to be informed by remarkable data of the kind the authors analysed.<img src="https://counter.theconversation.com/content/143894/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/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/vital-signs-shorter-meetings-but-longer-days-how-covid-19-has-changed-the-way-we-work-143894" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Shorter meetings but longer days – how COVID-19 has changed the way we work

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They’re at it again, pushing lower company tax as a way to resuscitate the economy.
The arguments were well ventilated at the time the government pushed for company tax cuts, failed to get support in the Senate, and then abandoned them in favour of personal income tax cuts in the leadup to the last election, declaring “we’re not coming back to the company tax cuts”.
The new argument is that they’ll help get us out of recession, but in the same sense that Leo Tolstoy observed that while all happy families resemble each other, each unhappy family is unhappy <a href="https://www.britannica.com/biography/Leo-Tolstoy/Anna-Karenina" target="_blank">in its own way</a>, each recession is different.
This recession is the result of the forced hibernation of large parts of the economy in order to reduce the spread of COVID-19.
<h2>This recession is about households</h2>
<a href="https://images.theconversation.com/files/350383/original/file-20200730-17-14n6v9d.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/350383/original/file-20200730-17-14n6v9d.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The first priority will be household spending.
When the time is right, it will be households that hold the key to reversing the effects of hibernation.
Australian households account for 60 cents in every dollar spent in the Australian economy, and they accounted for a disproportionate share of the fall in GDP in the first half of 2020.
With shops and cafes shut, the need for investment in new facilities is low.
The first step to recovery has to be reopening the businesses that exist and are closed or are operating well below capacity.
This means getting households spending, supported by stimulus.
<h2>Company tax cuts benefit foreigners</h2>
Our modelling in 2018 showed that while a company tax cut would stimulate investment and economic activity, in both the short run and the long run the benefits would accrue to <a href="https://www.copsmodels.com/elecpapr/g-287.htm" target="_blank">foreign investors</a> rather than to Australians.
In theory, all investors should respond positively to a lower company tax rate, but under Australia’s system of <a href="https://theconversation.com/words-that-matter-whats-a-franking-credit-whats-dividend-imputation-and-whats-retiree-tax-111423" target="_blank">dividend imputation</a> local investors are shielded from company tax, meaning the cuts matter most for those overseas.
Those overseas investors would be likely to invest more in Australia after a company tax cut, boosting Australia’s capital stock (buildings and equipment) making workers more valuable, pushing up wages. 
While sold as a plus, higher wages would make it harder for locally-owned businesses. Our modelling found the biggest losers would be in the retail, <a href="https://theconversation.com/big-business-doesnt-want-to-talk-about-it-but-smes-lose-from-a-company-tax-cut-57965" target="_blank">health care and education industries</a>.
With foreign investors paying less tax, the local population would bear the consequences of spending cuts or higher taxes, broadly negating the benefit of higher wage growth.
<h2>COVID makes the case weaker</h2>
As well, much of the company tax cut would be ‘wasted’ providing a windfall gain to foreign investors already in Australia.
The case for a company tax cut is now weaker, not stronger, than it was in 2018.
Budget deficits will reach new highs in 2019-20 and 2020-21. It is the right policy for the circumstances we are in, but it will leave future governments with difficult decisions about budget repair.
When the economy is strong enough, taxpayers could face deficit repair levies, bracket creep, new taxes, and the broader application of existing ones.
It is for this reason that the <a href="https://www.imf.org/%7E/media/Files/Publications/covid19-special-notes/special-series-on-covid-19-tax-law-design-considerations-when-implementing-responses.ashx" target="_blank">International Monetary Fund</a> warned against knee-jerk tax changes during the crisis and said:
a premium should be placed on measures that move the tax system in desirable directions – specifically: refrain from tax holidays; keep environmental taxes; do not cut corporate income tax rates
If the company tax rate was to be cut now, it would be difficult later to restore it to where it was when it was needed.
The smaller tax contribution by foreign investors would mean more of the adjustment would fall on us.
<h2>And investors may well find us increasingly attractive</h2>
Another fresh reason to be cautious about a cut in company tax is that Australia’s relative attractiveness as an investment destination might well improve.
We have suffered, but most of the world has suffered the same or worse.
Deciding where to invest their next dollars, investors might well form the view that our response to the pandemic has been better than those of other destinations such as the United States, Britain and Brazil.
One of the benefits of being a peaceful, well-managed resource-rich Western democracy is that when things are bad elsewhere foreign investors look here.
We might continue to find (as we have in the past) that we get all the foreign investment we can handle with our company tax rate as it is.<img src="https://counter.theconversation.com/content/143622/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/janine-dixon-11006" target="_blank">Janine Dixon</a>, Economist at Centre of Policy Studies, <a href="https://theconversation.com/institutions/victoria-university-1175" target="_blank">Victoria University</a> and <a href="https://theconversation.com/profiles/jason-nassios-318488" target="_blank">Jason Nassios</a>, Senior Research Fellow, Centre of Policy Studies, <a href="https://theconversation.com/institutions/victoria-university-1175" target="_blank">Victoria University</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/post-covid-therell-be-less-of-a-reason-to-cut-company-tax-than-before-143622" target="_blank">original article</a>.
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Post-COVID, there’ll be less of a reason to cut company tax than before

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A double storey home in Caroline Spring, Victoria has been sold by mortgagee for $820,000. 
It was offered by Las Anastasiadis and Vikas Kumar from Barry Plant Caroline Springs. 
Set on a 779 sqm block, the home at <a href="https://www.realestate.com.au/sold/property-house-vic-caroline+springs-132330870" target="_blank">6 Parramatta Court </a>comprises four bedrooms, study, formal lounge, central kitchen, theatre room and family room.
It also features bathrooms on each level, sunroom, pergola and double garage with internal access. 
The property was last sold in 2015 for $755,000.
 
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Caroline Springs, Victoria mortgagee home sold for minor profit

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A double storey townhouse in Craigieburn, Victoria has been sold by mortgagee for $320,000.
It was listed by Joseph Sassine from Jason Real Estate Tullamarine. 
The home at<a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-133271722" target="_blank"> 27/29 Ardsley Circuit </a>comprises lounge area, modern kitchen, dining and means area, and two bedrooms. 
It also features laundry, power room, rear yard and lock up carport. 
The home was last sold in 2013 for $329,000. 
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Craigieburn, Victoria mortgagee home sold for minor loss

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A low maintenance mortgagee house in Morphett Vale, South Australia has been sold for $235,000.
It was listed by Rick Pittard of Morphett Vale/Christies Beach. 
Set on 361 sqm, the home at<a href="https://www.realestate.com.au/sold/property-house-sa-morphett+vale-133020122" target="_blank"> 56 Bains Road </a>comprises three bedrooms, large lounge and dining, and updated kitchen.
It also comes with polished floorboards, heating and cooling and updated wet areas.
The home was last sold in 2011 for $269,000. 
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Morphett Vale, South Australia mortgagee home sold for minor loss

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A four bedroom house in Kellyville has been sold by mortgagee for $1.017 million. 
It was listed by Soha Sheila and Chris De Celis of The Avenue Real Estate Agency, Castle Hill. 
The family home at<a href="https://www.realestate.com.au/sold/property-house-nsw-kellyville-133780758" target="_blank"> 90 Lucas Circuit</a> comprises four bedrooms, study, rumpus room and low maintenance backyard. 
Set on a 484sqm allotment, the home also features ducted air conditioning and new carpet throughout. 
It is located close to metro station, Kellyville Village and schools. 
The property was last sold for $950,000 in 2016. 
 
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Kellyville, NSW mortgagee home sold for over $1 million

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A four bedroom mortgagee home located in the right of the Hunter Valley has been sold for $450,000.
It was listed by Kane Bradley from LJ Hooker Maitland. 
Set on a 644sqm allotment, the home at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+rothbury-133399130" target="_blank">35 Bendeich Drive, North Rothbury</a> comes with a 17.9m frontage. 
It offers four large bedrooms, multiple living spaces with theatre room, modern kitchen and outdoor alfresco area. 
The home is located only 5 minutes' drive to Branxton and 2 minutes to the currently under construction Coles shopping precinct. 
 
 
 
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North Rothbury, NSW mortgagee home sold for $450,000

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EXPERT OBSERVER
I’ve received an email from someone expressing outrage that I’m (in his mind) encouraging people to buy real estate at a time when everything is on the point of collapse.
He lectured that he and his friends believe doomsday is pending and the smart thing is to do nothing.
I won’t name him to protect the guilty. But I think people like this sad individual are a huge part of the problem.
Here’s why this kind of attitude is both wrong and damaging.
Firstly, he’s reacting to media headlines and not to the reality. He’s not alone but anyone smart enough to read and write should know better than to react to clickbait headlines.
One of the great problems amid the pandemic is that mainstream media does not see itself as part of the solution. Most businesses have a model based on making a living by being useful to consumers. Media in Australia doesn’t exhibit any desire to be helpful to its customers – its business model is to scare the hell out of people every minute of every day. It’s an appalling business model and it explains why so many publications are failing.
Intelligent people see the headlines for what they are – a shallow pitch to induce us to click on things, fed by profile-hungry economists and others who know a sensational negative is a guarantee of free publicity.
The smartest people tune out mainstream media altogether. Idiots take it all literally. They accept nonsense like the mythical September Cliff at face value, because they lack the ability to think independently.
Secondly, he’s a poorly-informed individual who is apparently unaware that around Australia there are local economies which are thriving and people are just getting on with business – and their local property markets are pumping strongly.
A core problem is that so much of our major media emanates from Melbourne and Sydney. Melbourne is a basket case because its Premier and his government mismanaged hotel quarantine and other aspects of the pandemic, while Sydney is struggling in many ways also. Both cities have elements of their property markets where vacancies are high, rents are falling and/or prices are drifting lower.
All of that influences the tone of media coverage. But two-thirds of Australians don’t live in our two biggest cities. Most Australians live in cities and towns largely unaffected by the virus, can go about their business unimpeded and are doing generally okay.
Many local economies are pumping and their property markets are rock solid. The vast majority of locations around Australia have low vacancies and strong rental markets. Buyers are facing strong competition and prices are rising.
Canberra has recorded house price rises in all of the past five months, according to CoreLogic figures, and Adelaide has risen in four of the past five months. Most regional jurisdictions have shown similar strength over the period from March to July.
Of the nation’s 15 market jurisdictions (eight capital cities and seven regional markets), 11 have house prices higher than they were at the start of the year.
If the forecasts of most economists in February-March were correct, prices would have plummeted, collapsed, nosedived and plunged (usually the language beloved by many journalists) everywhere by now.
Thirdly, Australia needs people to get off the fence and take action. It needs people to spend and it needs businesses to move forward with hope in their hearts. That’s what all those government stimulus packages are designed to encourage.
My sense is that most are doing so. I have conversations (phone, zoom, email, text messages) every day with people all over Australia and the great majority of them are bullish, busy and getting on with business. Even Melbourne people are pushing ahead as best they can in the circumstances.
Real estate markets are ticking over and people who service those markets are making money. It’s rare to encounter businesses with a negative mindset.
Fourthly, I believe the future belongs to the people who see this as a time of opportunity.
For businesses, it’s a time to innovate and find ways to do things better. In Melbourne, real estate agencies are finding ways to function while in lockdown and the early figures suggest an auction clearance rate above 70% in the latest weekend.
For first-home buyers, there’s never been a better time to take action. Interest rates are ridiculously low, lenders are competing for their business, and there has never been so much government assistance available. Some are sitting back and whinging that it’s all too hard but large numbers of young Australians are taking advantage of a never-to-be-repeated opportunity. All power to them.
For investors, there are wonderful opportunities to buy well in locations with good prospects for long term growth.
And the most important words in that sentence are “long term”. Those who understand the fundamentals of real estate investment appreciate that short-term scenarios like the pandemic impact are largely irrelevant in the overall scheme of things.
There are, of course, those sorry individuals for whom the glass is half empty. And there are some for whom the glass is completely empty.
I would say to them: You have the right to wallow in misery if that’s your preference, but don’t waste my time with your doomsday philosophy. I’m too busy getting on with it. 
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Never been a better time for first-home buyers to take action: Hotspotting’s Terry Ryder

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COVID-19 and the growing recession concentrated in the services sector will not just increase social inequality, but accelerate the growing spatial divide in our cities.
As our new research report shows, the pandemic’s impacts reinforce the ongoing trend towards the suburbanisation of inequality.
There are two reasons for this. First, the industries vulnerable to the economic impacts of COVID-19 lockdowns rely heavily on low-wage, part-time employment. Second, the inner suburbs are home to the largest concentration of COVID-vulnerable workers.
If we do not act now, more people will get pushed out of inner areas rich in jobs and amenities to lower-cost outer suburbs with poor access to jobs and community services.
<h2>Which industries and workers are vulnerable?</h2>
Our <a href="https://www.monash.edu/mada/research/navigating-economic-uncertainty-in-post-covid-cities" target="_blank">research</a> analyses where people employed in the industries most vulnerable to COVID-19 lockdowns live and the kind of work they do. We map vulnerable employment areas in all suburbs of Australia’s five largest capital cities. We then examine the characteristics of people in vulnerable employment living in all suburbs of Australia’s current coronavirus hotspot, metropolitan Melbourne.
We define vulnerable employment based on a detailed review of industries with one-third or more firms reporting <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Previousproducts/5676.0.55.003Main%20Features3Week%20Commencing%2030%20March%202020?opendocument&amp;tabname=Summary&amp;prodno=5676.0.55.003&amp;issue=Week%20Commencing%2030%20March%202020&amp;num=&amp;view=" target="_blank">reduced worker hours</a> one week after the first COVID-19 lockdown (March 30 2020). These firms are mainly in the consumer, travel and community services sectors. They employ people working in accommodation and food, arts and entertainment, education, “non-essential” <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-06-16/coronavirus-leaves-medical-practices-on-verge-of-collapse/12359282" target="_blank">health care</a>, retail and transport.
We profile the characteristics of vulnerable workers in each of these sub-industries and by suburb. We classify suburbs (using <a href="https://www.abs.gov.au/websitedbs/D3310114.nsf/home/Australian+Statistical+Geography+Standard+(ASGS)" target="_blank">SA2 level</a> data from the Australian Bureau of Statistics) by share of vulnerable employment based on the worker’s place of usual residence.
<h2>Many at-risk workers live in inner suburbs</h2>
As the map below shows, the largest shares of vulnerable workers live in Melbourne’s inner suburbs.
<a href="https://images.theconversation.com/files/349503/original/file-20200727-25-754ql2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/349503/original/file-20200727-25-754ql2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Source: ABS (2016) Census data, by place of residence at SA2 level. Map by Declan Martin and Alexa Gower, Author provided
Vulnerability levels clearly diminish moving outward from the city centre. In other words, many vulnerable workers live in some of the highest-rent suburbs.
On average, the share of vulnerable workers in the very high vulnerability suburbs is 32.2% of employed residents. The figure exceeds 40% in some of these areas.
<h2>Workers likely to be forced to move</h2>
Living in the inner suburbs, combined with the nature of their jobs, puts many COVID-vulnerable workers at high risk of displacement.
In the very high vulnerability suburbs, 47% of vulnerable workers are on low or very low incomes. And 54.3% work part-time (less than 38 hours a week). A large proportion (41.9%) are aged under 30 and about one-third are 30-44.
In fact, over half (53.5%) of the vulnerable workforce living in very high-vulnerability suburbs hold jobs in the most precarious, low-wage consumer services industries – accommodation and food services and retail and personal services. Another 30% work in arts, entertainment and education.
Suppressed consumer demand will not only have short-run employment impacts, but might permanently alter consumption patterns. The result would be enduring business closures and job losses for workers who live in these areas.
To make ends meet, many of those facing job loss and other employment pressures such as reduced hours will seek more affordable housing in the middle and outer suburbs.
However, although the outer areas are now home to the smallest proportion of vulnerable workers, the vulnerable workers that live there tend to be worse off. Just over 66% are on low or very low incomes and 60% work part-time.
As a result, the migration of COVID-vulnerable workers to the outer areas will add to the existing concentration of spatial inequality in Greater Melbourne.
<a href="https://images.theconversation.com/files/350533/original/file-20200731-77137-1yq48ho.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/350533/original/file-20200731-77137-1yq48ho.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Table showing demographic breakdown of vulnerable employment communities for each level of vulnerability"></a>
Source: ABS 2016 Census data, by place of residence at the SA2 level, Author provided
<h2>What can be done about this?</h2>
COVID-19 puts people working in low-end <a href="https://theconversation.com/how-the-coronavirus-recession-puts-service-workers-at-risk-134869" target="_blank">service jobs</a> and the <a href="https://theconversation.com/coronavirus-3-in-4-australians-employed-in-the-creative-and-performing-arts-could-lose-their-jobs-136505" target="_blank">creative</a> and educational services at high risk of losing their jobs. Those who manage to live in the high-cost inner suburbs are now particularly vulnerable.
It is therefore crucial to expand rather than retract the JobKeeper and JobSeeker programs. Proposed cuts to JobSeeker are estimated to <a href="https://www.theguardian.com/business/2020/jul/24/weekly-cut-of-150-to-jobseeker-coronavirus-supplement-will-throw-370000-australians-into-poverty" target="_blank">push 370,000 Australians into poverty</a>, 123,000 in Victoria alone. In tandem, we need interim policy in the rental housing market to defuse the impending “<a href="https://www.theguardian.com/australia-news/2020/jul/19/we-dont-know-how-many-time-bombs-are-ticking-australias-rent-deferral-debt-trap" target="_blank">rent bomb</a>” of tenants facing eviction if they can’t pay the accumulated debt of deferred rent.
Longer-term strategies are also needed. We must confront the reality that many service sector jobs will not return.
This requires investment in skills-building courses tied to strengthening the recovery of TAFEs and universities, particularly in areas like “essential manufacturing” – medical supplies, recycling, food – and communications technologies. <a href="https://www.pm.gov.au/media/jobtrainer-skills-package-economic-recovery-and-growth" target="_blank">JobTrainer</a> is a good start.
Given the spatial dimensions of the crisis, place-based programs are crucial too. Preserving <a href="https://theconversation.com/three-ways-to-fix-the-problems-caused-by-rezoning-inner-city-industrial-land-for-mixed-use-apartments-121566" target="_blank">inner suburban industrial land</a> can play a significant role in small enterprise start-ups, firm expansion and job creation. Inner industrial districts provide a flexible mix of space that allows businesses to grow and add quality jobs in place.
At the same time, policymakers can better develop community infrastructure and employment hubs in the outer suburbs. Community hubs provide flexible, multipurpose spaces that cater to various community needs. These services range from youth, aged care and health facilities to collaborative workspaces and settings for workforce training providers.
While COVID-19 is clearly taking an immediate toll on the health and economies of our cities, we need a conversation about the longer-term impacts and responses.<img src="https://counter.theconversation.com/content/143432/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/carl-grodach-403324" target="_blank">Carl Grodach</a>, Professor and Director of Urban Planning &amp; Design, <a href="https://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-coronavirus-will-deepen-the-inequality-of-our-suburbs-143432" target="_blank">original article</a>.
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Why coronavirus will deepen the inequality of our suburbs

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Melbourne’s preliminary auction clearance rate sat at 60.3 per cent from 123 reported results, when Melbourne faced its first auction day under stage 4 restrictions at the weekend,
After the tough restrictions, buyers were unable to inspect homes in person on auction day, but there were 218 properties still scheduled to go under the hammer.
Some 56 were withdrawn from auction.
Buyers had previously about two weeks to view the properties in person at a private inspections before Melbourne’s stage 4 COVID-19 restrictions came into effect.
The top sale was $2.76 million at 12 Glenmore Crescent, Black Rock (pictured in title).
It was $360,000 more than the top end of its asking price range with just the two bidders.
There was a $1,751,000 sale of a four bedroom house, a likely redevelopment, at 8 Kangerong Rd, Box Hill.
There had been $1,500,000 to $1,650,000 price guidance.
REALas had $1,609,000 value guidance.
A three-bedroom house at 39 Iffla Street, South Melbourne, sold under the virtual hammer for $1,732,500 which was $157,500 above reserve.
Melbourne auctions must now be held at an auctioneer’s home, rather than at agency offices, which have been closed under the new rules.
With five weeks of the lockdown to go, agents are expecting a very quiet month.
Sydney’s preliminary auction clearance rate sat at 61.5 per cent from 328 reported results, Domain reported.
There were 577 properties scheduled to go under the hammer which was the busiest Saturday since mid-April.
Some 103 offerings were withdrawn from auction.
An six-bedroom, eight-bathroom house at 22 Llandillo Avenue, Strathfield fetched $6,305,000, the highest advised price.
The two-storey home attracted seven registered bidders, with six getting to bid during the auction. 
The 765 sqm building block last sold for $2.41 million in 2015. 
There was an unreported sale of the three-level house in Drummoyne at a private auction for an undisclosed price believed to be over $8.5 million.
The Burnell Street house was expected to sell for $7 million.
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