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?

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Regulation is coming for the short-term rental accommodation (STRA) industry in NSW, but not before further discussion on how it should work for residential dwellings.
The advent of online accommodation booking platforms has seen the national industry estimated to be worth $31 billion nationally in 2016, with NSW’s share about half of that figure, with short term rentals benefiting the economy and providing income for property owners.
But the shift away from hotels, motels and the traditional bed and breakfast establishments has caused problems for communities. 
At present, STRA is regulated differently in different local government areas across NSW, undermining certainty for hosts and communities.
The new schemes is a long time coming, following a parliamentary inquiry in 2015-16 and an options paper in 2017. 
In June 2018, the NSW Government announced a state-wide planning code permitting the use of dwellings under certain conditions, including limits on the days the rental can take place.
The NSW Parliament passed the Fair Trading Amendment (Short-term Rental Accommodation) Act 2018 in August 2018.
There will be a mandatory code of conduct that will apply to online booking platforms, letting agents, hosts and guests.
It was proposed that strata schemes can adopt a by-law that prohibits STRA where the property is not a host’s principal place of residence. 
Any such by-law will need to be adopted by special resolution, with 75% of votes supporting the proposal at a general meeting.
There will be ‘exempt’ and ‘complying’ approval pathways that enable a limit on the number of days possible depending whether the host is present and where the host is not present.
The policy seeks state-wide consistency in the definition and permissibility of STRA, although it will allow regional councils to nominate different day limits for un-hosted rentals,
These council include locations with many coastal location such as in Clarence Valley Shire around Angorie, Yamba and Iluka. Ditto Muswellbrook Shire around Denman and Sandy Hollow. There's also special rules around Lake Macquarie and Ballina Shire.
The presiding departments, the Department of Planning, Industry and Environment (DPIE) and Department of Customer Service (DCS)  are now seeking further feedback from the NSW public on the government's proposal.
There are going to be rules that ban hosts and guests in certain circumstances mostly regarding anti-social behaviour. The decision will come from the commissioner who will maintain a registry publicly available on the internet.
The rules require booking platforms and letting agents to keep the full particulars of each accommodation arrangement for five years.
Feedback is sought on matters including the process for registering a property; the information required to be included on the register; who gets access to information on the register and the costs associated with establishing and managing the register.
Given the time that industry may need to develop and establish the register, the regulatory framework won't commence until 2020, although there is some prospect of a staged implementation towards the end of 2019.
The closing date for submissions is September 11. Making a submission at www.planningportal.nsw.gov.au/exhibition/have-your-say-short-term-rental-accommodation-reforms or mail to: Director, Housing Policy NSW Department of Planning, Industry and Environment GPO Box 39, Sydney NSW 2001.
Meanwhile the government has convened an advisory committee which includes stakeholders including Airbnb; Home Away/Stayz; Property Owners Association New South Wales, Destination New South Wales and the Tenants’ Union of New South Wales.
This article first appeared in The Daily Telegraph. 
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NSW short-term rentals set to be hit with new regulations

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The luxury Perth home of Ross and Lory Merlino, co-founders of artisan furniture maker Merlino, has been sold for $7 million.
They commissioned the Imperial Homes build in 2013, having paid $2,585,000 for the Attadale holding in 2006.
Now stands an opulent three level mansion on the 1,075 square metre elevated parcel with views from the hills in the east to Fremantle in the west.
The ground floor features a sunken lounge with its own kitchenette that opens to an outdoor living area.
The outside space homes a barbecue kitchen, self-cleaning pool and spa, sauna and a deck.
Also on this level is a custom 10 seat, sound proofed home theatre room.
On the first floor is the main living space and kitchen, as well as the master bedroom with marble bath and dressing room.
The basement level has a fully-self contained apartment, garaging for seven cars and a gym.
Mont Property selling agent Matthew Podesta advised the six bedroom home was one of the finest to come to market in Perth.
The $7 million sale easily exceeded the prior suburb record, set late last year when a modern 2010 built home around the corner sold for $5.1 million.
Merlino started off as a small family business, known as R &amp; L Merlino, in 1980 with the selling of Marcel Bruer chairs in the Perth marketplace.
Within 18 months the business had progressed to the purchase of their first warehouse, the employment of staff and the expansion of the furniture range imported from Italy.
This article first appeared in The Weekend Australian. 
 
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Ross and Lory Merlino sell Attadale holding for suburb record $7 million

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Set to spend more time in Hollywood, Melbourne entertainment industry power couple Jason Schepisi and Katherine McIntosh are selling their Yarra Ranges retreat.
Schepisi is the Netflix producer son of director Fred Schepisi, and McIntosh, daughter of news presenter Sue McIntosh, whose credits include directing The Real Housewives of Melbourne.
They paid $940,000 for the Dixons Creek home in 2016.
They secured approval for a new build, but have decided to sell the four hectare property.
It comes after Schepisi's eight-part series A Man Called Horse was picked up by Netflix.
Schepisi, who is also an architect, has pretty much rebuilt the exisiting home that they bought three years ago.
Renovated in a mid-century style, the home with timber exterior and new concrete flooring has two bedrooms and two bathrooms.
Fletchers Yarra Ranges agent Richard Wines has a $1.27 million to $1.39 million guide.
Alongside being the executive producer of his new show, Schepisi will spend some time on architecture projects while in Los Angeles.
This article was first published in the Weekend Australian. 
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Entertainment industry power couple list Yarra Ranges retreat ahead of Hollywood move

Singer Olivia Newton-John secured $4.6 million when her Dalwood estate, on the <a href="/new-apartments/nsw">NSW</a> north coast, sold last month.

Its buyer has emerged as Carol Klin­kert, wife of businessman Stephen, who has 30 years’ experience in the insurance industry in South Africa, the UK ­and Australia.

The couple are based in <a href="/new-apartments/kenmore-qld-4069">Kenmore Hills</a>, southwest of Brisbane, and also have a holiday home at Beaulieu-sur-Mer in the south of France.

The original Dalwood cottage was rebuilt in 2002 into a French-inspired country house with ­vintage timber doors and stone arches, along with a vast country-style kitchen.

There’s also a self-contained guest retreat along with two dams, a pond and tennis court.

The sale, which ended just short of 38 years of ownership, came after it was listed with hopes of more than $5 million through veteran agent Jillian McGrath.

The legendary 70-year-old entertainer initially bought the property in 1981 for $622,000, with adjoining land added in 1983 and more in 2015 to consolidate the 55 hectare property.

Its purchase came after her breakout role as Sandy in the 1978 box office hit, Grease, and then the ­release in 1981 of her chart-topping album, Physical.

Newton-John, based in Florida with her husband John Easterling, retains her stake in Gaia, near Byron, a wellness retreat co-founded in 2005.

This article was first published in the Sunday Telegraph.

Olivia Newton-John scores $4.6 million Dalwood sale

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GUEST OBSERVATION
In the absence of federal policy, states are pursing their own renewable targets.
Australia’s primary federal renewable energy target – to have <a href="https://www.environment.gov.au/climate-change/government/renewable-energy-target-scheme" target="_blank">33 terawatts of renewable energy by 2020</a> – has essentially been achieved. There is much uncertainty as to what is next.
In the absence of a new national target, the states have been leading the way and <a href="https://www.cleanenergycouncil.org.au/resources/project-tracker" target="_blank">driving renewable energy</a> in Australia. Victoria, New South Wales and Queensland between them have invested some A$20 billion into building 11,400 megawatts of generation capacity.
While the states have worked admirably to advance renewable energy – and federal energy policy has long been politically toxic – there is a clear cost to pursuing many fragmented policies instead of a unified vision.
Our research, modelling the effect of state versus national renewable energy targets in the National Energy Market system found there was little difference in the overall cost, but that states without strong renewable targets tended to miss out on investment.
We need national thinking
<a href="https://www.climatecouncil.org.au/uploads/9a3734e82574546679510bdc99d57847.pdf" target="_blank">Most jurisdictions</a> have net zero emissions targets by 2050. States also have ambitious but achievable shorter-term renewable energy targets and programs.
There are plenty of arguments for states pursuing their own renewable energy targets, not least because they can fill the policy vacuum left at the national level.
States are responding to the immediate need to replace retiring power stations and can explore innovation with greater ambition. It makes perfect sense for states to compete to attract jobs and investment.
But Australia’s federal government has a <a href="https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement" target="_blank">domestic and international obligation</a> to reduce greenhouse gas emissions from fossil fuels. National policies are more efficient, can harness better resources across our diverse geography and maximise returns for the whole system.
What’s more – as many column inches have pointed out – strong federal policy improves investment certainty and reliability, lowering the cost of inevitable infrastructure upgrades. And those upgrades can be better integrated into our existing national electricity system if the building (and money) doesn’t stop at internal borders.
To provide some insight and help move the debate forward, the University of Melbourne, Monash University and the <a href="https://www.energy-transition-hub.org/" target="_blank">Australian-German Energy Transition Hub</a> have collaborated on research that was presented at an <a href="https://www.wemcouncil.org/wp/icem/" target="_blank">international conference</a> in Denmark earlier this year.
Quantifying the difference
We simulated two scenarios: first, that all states implement polices to achieve their respective renewable energy and net zero emissions targets by 2050.
The second scenario assumed a national target would be used to result in the “same outcome” of 100% renewable energy by 2050.
The model calculates required energy investments with 5-year increments from today to 2050, including considering the existing generation currently operating. The model simultaneously optimises the mix of generation, transmission and storage to minimise the total system cost from 2020 to 2050.
A key difference in results is where and when new generation is built. Under the state-driven approach, unsurprisingly, investment shifts towards states with more ambitious targets.
The two figures below show how state-based targets drive more investment into Queensland than would be the case under a national target scheme.
<a href="https://images.theconversation.com/files/286465/original/file-20190731-186819-1j9zsem.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/286465/original/file-20190731-186819-1j9zsem.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Spatial distribution of renewable generation)
Broadly speaking, under a national target, we see more efficient use of renewable energy and associated resources. NSW – with net zero 2050 target but no interim renewable energy target – would get a greater share of the renewable energy investment.
<a href="https://images.theconversation.com/files/286469/original/file-20190731-186814-1rk0hzu.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/286469/original/file-20190731-186814-1rk0hzu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Change in energy generation %)
NSW would consistently see substantially more investment under a national target scheme. This would be around 20% more generation in the 2030s in NSW, and up to 20 terawatt-hours more energy generated in the years 2030 to 2045.
The rollout of “where and when” to build new renewable and other generation to replace ageing fossil fuel power plants also impacts heavily on the sequencing and timing for major transmission upgrades across the NEM – especially interconnectors between states.
<a href="https://images.theconversation.com/files/286470/original/file-20190731-186792-142o7z3.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/286470/original/file-20190731-186792-142o7z3.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Transmission networks modeled)
The graph shows that under a state target based approach we build more transmission infrastructure earlier than under a national approach. Under a national target approach, we would end up building more transmission infrastructure – albeit later.
Again, broadly speaking, we would build more generation at renewable energy resource-rich areas such as NSW which happen to be near major demand centres like cities. This would delay the need for some infrastructure spend.
What about system reliability and energy costs?
The good news is it appears under either a state-based or a national target approach the outcome in 2050 is similar. The difference in total system costs is only about 1% higher in the state-based targets scenario – so, virtually nothing.
<a href="https://images.theconversation.com/files/286460/original/file-20190731-186797-1csnld1.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/286460/original/file-20190731-186797-1csnld1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Evolution of electricity generation – total system)
State-based renewable energy targets lead to redistribution of renewable investments in favour of the states with a mid-term renewable energy target.
In the Australian context, the current state-based renewable energy targets have no impact on undermining power system reliability and virtually negligible impact on pushing up power prices.
Perhaps NSW should take particular note – as it would appear that it would benefit greatly from either a national target approach or an interim state target for itself.
The debate about state versus national approaches to energy policy has been going for the past 30 years and no doubt will be around for another 30. In the meantime, we need a stronger hand on the transition tiller or we will waste precious resources and time, and likely have major unintended consequences.
Scott Hamilton, Strategic Advisory Panel Member, Australian-German Energy Transition Hub, University of Melbourne. 
Changlong Wang, Researcher, The Energy Transition Hub, University of Melbourne. 
Roger Dargaville, Senior lecturer, Monash University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-need-a-national-renewables-approach-or-some-states-like-nsw-will-miss-out-121192" target="_blank">original article</a>.
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We need a national renewables approach, or some states will miss out

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Sydney’s newest residential tower will rise 270 metres, comprising 80-storeys much of it serviced apartments.
It is so tall it will need approval Aeronautical Impact Assessment approvals.
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As it penetrates Sydney Airport’s Obstacle Limitation Surfaces (OLS), the infringement triggers a requirement, under the Airports (Protection of Airspace Regulations 1996 (APAR), to need approval for the development from the Department of Infrastructure, Transport, Cities and Regional Development (DITCRD).
It will need to see if it can affect the safety, regularity or efficiency of aircraft operations at Sydney Airport.
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The Ingenhoven and Architectus scheme proposes a super-slim skyscraper sitting atop a podium that incorporates several levels of retail, two childcare centres and the Event Cinemas which is subject to a long-term lease. 
It will be the tallest residential building in Sydney. China’s state-owned Greenland tower on the old Sydney Water Board building will be 235m high.
Ingenhoven + Architectus beat off design competition entrants such as Bates Smart, Foster + Partners and WilkinsonEyre.
Their $567 million estimated cost came in nearly $14 million cheaper than their nearest competitor. 
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The design proposed by Ingenhoven + Architectus aimed to be a landmark for economical, ecological and socially sustainable future-orientated development.
An ‘energy façade’ was proposed with slanted horizontal elements and exposed structural columns to provide sun shading and act as potential hybrid solar collectors.
Its sustainability endeavours also include electric vehicle charging for 5% of car spaces on completion, with capacity to increase over time to reflect the car fleets of the future. 
<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/2019/8/28/George%20Street%20Cinema%20entrance.jpg" alt="">
The George Street frontage (above) was proposed to consist of retail tenancies and a central entrance to the curvilinear through-site link to the building lobbies and Kent Street (below).
<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/2019/8/28/Kent%20Street%20frontage.jpg" alt="">
The developers secured approval for added height from the City of Sydney in 2014, well above the site’s existing 150 metre limit, after promising community benefits including two childcare centres and a community meeting facility.
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The cinema was constructed in 1976 as the Hoyts Cinema.
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<div>Mirvac and Coombes Property Group are the joint developers.</div>
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Coombes Property Group acquired the 4,308sq m site in 2009 from Challenger Financial Services for $85 million.
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<div>Construction is expected to take five years with construction likely to commence in 2020 subject to council approval.</div>
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Its 507 apartments include 55 studio, 144 one bedroom, 224 two bedroom and 84 three bedroom apartments.
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270 metre tall Event Cinema, George Street tower needs Aeronautical Impact approval

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EXPERT OBSERVER
The Sydney housing market has bottomed out. Many leading indicators now suggest the current September quarter will record about a 2% rise in Sydney dwelling prices and we are expecting a rise of another 4% for the December Quarter. That should take the full year to about a 1% gain compared to 2018.   But let it be known Sydney has bottomed out at an overvalued point. The data suggests the Sydney housing market remains 21% overvalued despite the two year correction. For reference, the average overvaluation (since 1986) in Sydney is 19% with a low point of 5.9% ‘undervalued’ in June 1987 and a high point of 55.5% overvalued in December 2003.  The most recent overvalued point was 51.6% in the June Quarter 2017. The most recent undervalued point was 1.6% undervalued in September 2012.   This is all based on our view that there is a relationship between nominal GDP and house prices. And when you read this chart we think the evidence is there. Logically there should be a relationship. Housing price rises cannot outpace income growth forever. And the more the gap between the two, the more housing prices have to be supported by cheaper and easier access to credit.   Historically, the Sydney housing market has rarely been undervalued. There has nearly always been some sort of premium attached.
To enlarge, <a href="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/4c539bd2-4f54-4a6b-8cad-28e2a88d92d8.png" target="_blank">click here</a>.   <img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/4c539bd2-4f54-4a6b-8cad-28e2a88d92d8.png" width="800" height="444">
Effectively the current point suggests, that, left unchecked, we could soon be heading towards yet another historic overvaluation point similar to levels recorded in 2003 and 2017.
The key word though in this is “unchecked”. How will the regulators respond when they read newspaper headlines of a new booming Sydney housing market recording annualised double digit percentage price growth?     Our initial thinking is they are unlikely to respond well and may introduce more lending restrictions once again. Then again, if the powers that be feel cornered due to perhaps rising unemployment pressure or the need to hit inflation targets, etc., they may well let the market run.   And then finally consider what happens if we have another rate cut?
Louis Christopher is the managing director of <a href="https://sqmresearch.com.au/" target="_blank">SQM Research</a>.
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jrobinson-rf4aSBido9

Sydney housing market has bottomed out: SQM's Louis Christopher

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Construction giant Icon claims it has spent $24 million since the evacuation of the Opal Tower skyscraper last December.
Fifteen owners are still locked out of their Sydney Olympic Park apartments as the cracking repairs continue.
One owner sold the worst affected apartment to Icon on the 10th floor.
Icon was the company that built the tower which was completed in August last year.
Icon told the ABC the Opal Tower event was insurable, however it did not reveal how much of the $24 million it was planning to claim.
The amount includes money spent on housing residents in temporary accommodation.
The ABC reported Icon's NSW business reported $163 million in revenue for 2018, down from the $335 million in 2017.
It reported a $1.63 million net profit in 2018, down from $6.8 million in 2017.
An Icon spokesperson said the company's approach to Opal Tower since the Christmas Eve evacuation "cannot be questioned".
"[This is] all without admission of liability," a company spokesperson told the ABC.
Domain recently reported Sydney Olympic Park apartment sales in the suburb have dropped 85 per cent in the six months to June compared to the same time last year.<iframe title="3rd party ad content" name="google_ads_iframe_/31694718/domain.com.au/news/nsw_3" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" width="1" height="1" data-google-container-id="7" data-load-complete="true" data-integralas-id-7d0c1289-2a86-1366-5f35-e19975ab98cf=""></iframe> 
Across Sydney, buyers interest in new apartments has slipped, with views per listing for new apartments down 9 per cent in the first half of 2019.
Agents noted the Opal Tower event had tarred the entire suburb.
“Sydney Olympic Park has been affected because [buyers] think the entire park is a problem, not a particular building,” one agent said.
 “They’re all looking for that one word … [asking] is Icon the builder?”
McGrath agent John McManus, who is selling an apartment in Sydney Olympic Park, said buyers were skeptical about all new builds. 
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Builder Icon spends $24 million after Opal Tower cracking

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The pioneering radio presenter Janadele Stewart has sold her Pyrmont penthouse, after years of being on and off the market.
The property was recently placed on the market via a soiree involving champagne and canapes with an asking price of $5.3 million to $5.5 million.
Situated at 731/8 Point Street, the apartment featuring three bedrooms and two bathrooms last traded for $2,485,000 in 2003, one year after it was built.
Ayre Estate Agents Adrian Wilson, Craig Donohue and Kirsty Gardner were the successful marketers of the Mirvac-developed penthouse in the Promontory.
Featuring two separate living areas and a large entertainers’ terrace, it holds views to the Sydney Harbour.
Set on 363 square metres, the abode transacted at auction for $5.57 million, a building-record by $770,000.
Four bidders competed for the home.
It is also the current highest registered sale price for the 2009 postcode in 2019.
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Janadele Stewart finally sells Pyrmont Penthouse after 6.5 years

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Chinese owned Union Agriculture's Mount Falcon Station in south-east NSW has hit the market.
It has been listed by Angus Macleod from Colliers International with $13.5 million to $15 million hopes. 
It was once owned by internet entrepreneur Sean Howard.
Situated in the Upper Murray region, the cattle property at Tooma, NSW comprises 2800 hectares of productive country near the Snowy Mountains.
It features high rainfall of 750mm per annum, fencing, infrastructure and manager's residence. 
Mount Falcon is currently run as a commercial beef operation with an approximate carrying capacity of 20,000 to 23,000 dry sheep equivalents.
<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/2019/8/26/tooma%202.jpg" alt="">
The farm breeds F1 wagyu and the herd will be offered for sale to the potential buyer separately.
It has been owned by the Chinese investment group since 2011.
<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/2019/8/26/tooma%203.jpg" alt="">
The property has been scheduled to go under the hammer on September 5.  
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