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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A three bedroom cottage sitting on a 2,405 sqm bush block in Aldgate, South Australia has been sold for $552,500. 
It was listed by Anne Einarson from Harris Real Estate with a price guide of $545,000 to $560,000. 
The cottage at <a href="https://www.realestate.com.au/sold/property-house-sa-aldgate-131531918" target="_blank">11 Dillion Road</a> comprises living three bedrooms, one bathroom, dining area, and Shaker-style new kitchen.
<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/2019/8/5/aldgate%202.jpg" alt="">
The private garden is shielded by a tall photinia hedge and pathways accessing to the wood shed and storage shed.
Other features include front verandah, breakfast bar, reverse cycle split air conditioning and carport.
<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/2019/8/5/aldgate%203.jpg" alt="">
Located within 30 minutes of the Adelaide CBD, the abode is close to shopping villages, wineries, cafes and restaurants, local schools and markets.
It last sold in 2014 transacting for $482,500.
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j.ballantyne1990-6AQqhLzZaK

South East Adelaide cottage on bush block sold

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The Chinese property developer Huang Xiangmo allegedly gave $100,000 in cash to the former head of the NSW Labor Party, Jamie Clements, a NSW corruption inquiry heard on Monday.
The Independent Commission Against Corruption (ICAC) inquiry is beginning six weeks of public hearings to investigate whether NSW Labor received money from illegal sources.
A key witness in the hearing said Mr Huang, a billionaire property developer, visited Labor Party headquarters in 2015.
It was when he allegedly handed $100,000 in cash to then NSW Labor General Secretary Jamie Clements.
There have been varying reports as to whether the cash was in an envelope or an ALDI plastic bag.
In 2014 and 2015 the cap on political donations was $5,700.
The OPERATION AERO hearing is investigating whether the $100,000 donation was disguised as a series of $5,000 donations, made during a Chinese Friends of Labor fundraising dinner.
The ABC reported the commission was told one witness, Quanbao Liao, took his own life in 2018 before giving evidence to the ICAC.
Quanbao “Leo” Liao, of the Chatswood property developer firm Wu International, left a suicide note, telling his family he had been visited by detectives.
“I have decided to leave this world, which is also my last hardest attempt, to prevent you and our daughter from becoming family members of a criminal.
"This is because I am still innocent at the time I wrote this letter,” he wrote in a letter.
The hearing is set for six weeks. ICAC has released the witness list for its upcoming public inquiry into allegations concerning political donations to the NSW Labor Party. General Secretary of NSW Labor Kaila Murnain and former NSW Upper House MP Ernest Wong will appear among others.
Earlier this year the billionaire property developer Huang Xiangmo lost his permanent residency status for reasons including character grounds.
The crisis support service Lifeline is 13 11 14
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$100,000 cash in envelope for NSW Labor from billionaire Chinese property developer

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A new coastal duplex in Eastern Sydney's Matraville has been sold for an undisclosed price. 
It was listed by Joshua Karam and Jarrad Holtze from McGrath Maroubra. 
Nestled on a 538 sqm block, the attached home at<a href="https://www.realestate.com.au/sold/property-house-nsw-matraville-131488358" target="_blank"> 7 Meehan Street, Matraville</a> features a free flowing floor plan.
<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/matraville%202.jpg" alt="">
It comprises four bedrooms, study, gourmet stone kitchen, covered entertainers' alfresco and garage plus additional parking. 
Other highlights include heated polished concrete floors on ground level, ducted air conditioning, and east facing backyard with lawn.
<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/matraville%203.jpg" alt="">
It's situated only minutes from parkland, schools, transport, cafes and Eastern Suburbs beaches. 
The holding was sold in 2016 for $1.7 million as an original free standing home. 
Built in 2018, the duplex was built following the submission of a DA valued at $723,861.
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New duplex style coastal Matraville trophy home sold

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Boring operations for the Sydney Metro project have broken through at North Sydney and entered the biggest underground cavern built so far.
Premier Gladys Berejiklian and Minister for Transport Andrew Constance were present at the new Victoria Cross Station 25 metres below ground.
Ms Berejiklian said, “TBM Wendy has tunnelled 4.5 kilometres from Chatswood in eight months and only has another 1.7 kilometres to reach the edge of Sydney Harbour at Blues Point." 
“This is incredible progress on the next stage of Sydney Metro which will take the North West Metro, under the harbour, through the CBD and on to Bankstown,” she added.
Mr Constance said Sydney Metro is Australia’s biggest public transport project and will deliver turn-up-and-go Metro train services to 31 stations along a new 66 kilometre railway.
The cavern at Victoria Cross is 40 per cent bigger than both the cavern being built at Barangaroo and the cavern built under Castle Hill on the new North West Metro.
The 150-metre-long TBM Wendy is named after Wendy Schreiber, a volunteer at Bear Cottage.
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Sydney Metro boring operation breaks through in North Sydney

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Former McGrath New Farm agent Henry Hodge has set up his own shop, in the same suburb. 
He's opened his own office, Henry Hodge Real Estate, based in New Farm, and has taken fellow former McGrath colleague Kosta Porfyriou with him.
Hodge spent three years at McGrath from late 2016 as a sales agent.
During his time at McGrath he achieved the highest auction sale in Brisbane at the time.
That came last year when Riverview, a grand Teneriffe home, sold for $4.405 million.
Hodge and Porfyriou, who had been at McGrath for a few months longer than Hodge, have brought five listings over from McGrath.
The most recent is Koowa, the luxury Teneriffe home that Hodge sold for $3.8 million last December when at McGrath.
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jrobinson-rf4aSBido9

Henry Hodge departs McGrath 

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With its annual revenue down by 17 percent, McGrath Limited has delivered another big annual loss.
Its property sales volume fell 16.8 percent during the financial year.
Despite the 1854 fewer house and apartment sales, McGrath claimed it was maintaining market share by sales value, albeit its 2.8 percent still well behind market leaders Ray White (8.1 percent) and LJ Hooker (3.9 percent).
There was no sign of any increase in listing activity in August, however its chief Geoff Lucas forecast a return to revenue growth at some stage in the current financial year.
"The fall in revenue by 17 percent isn't desirable nor are we comfortable with it," Lucas said.
Lucas noted it was due to "difficult market conditions."
The disruption of its lower north shore Sydney operations following its termination late last year triggered a severe drop in NSW market share by sales volume and sales value. "This is expected to be a short impact only," Lucas said.
McGrath <a href="/news/michael-coombs-departs-mcgrath">ended their franchise agreement</a> on the Lower North Shore over Christmas. It has had just the five sales this year headlined by the <a href="/news/mcgrath-chief-executive-geoff-lucas-sells-in-cremorne-after-buying-half-a-palladian-villa-in-bellevue-hill">Lucas household earlier this month</a>.
Fewer sales at its company owned sales was pinpointed as the major contributor to the overall decline in earnings - both a reduction in the number of properties sold and the value of the properties sold.
There were $3.7 billion in sales from 2,655 sales in the latest FY19 at company owned offices.
It compared to $4.6 billion from 3,002 sales in FY18.
The franchise network exchanged 6,558 properties during FY19, down on FY18 when there were 8,065 sales.
During the year there has been a net reduction of two franchise offices with six closures, five openings and one transfer to the company owned sales network.
<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/McGrath%20market%20share.jpg" alt="">
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Its auction services division had 4,835 auctions booked in FY19, down on FY18 which had 5,894 bookings.
Auctions represented 39% of all properties listed.
The report revealed an impairment of $3.4 million in relation to an intangible IT asset.
McGrath had been developing an integrated customer relationship management (CRM) tool and operations software since 2016.
But shareholders were told the CRM’s functionality "appears to be weaker than other mature CRM’s already available in the market" leading towards a strong preference to pursue alternative management software solutions that will better serve the McGrath business, clients and personnel.
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In addition to the asset impairment, an onerous contract of $3 million has also been recognised in relation to non- cancellable contracts associated with the CRM platform. 
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Its total group revenue fell to $82.7 million amid the weakened real estate market, down from $99 million.
The cost of sales declined from $38 million to $34 million.
The agency saw a small decline in its staff across its 30 company owned offices and 67 franchise offices with 525 agents operating within those offices as at June 30.
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Staff number decreased from June 2018 when there were 558 staff.
The latest departee is <a href="/news/henry-hodge-departs-mcgrath">Henry Hodge in Brisbane</a>.
Its property management business has over 32,000 properties managed for more than 28,000 landlord investors.
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Properties under management within the company owned offices increased by 6 percent to 7,627 in FY19, generating $5.4 million EBITDA, a 12 percent decrease on FY18 due to lower rental value per property. 
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Its underlying EBITDA loss of $6.4 million, which sits is within guidance provided in its June update.
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It reported an EBITDA loss of $10.1 million after the impact of onerous contracts expense of $3.7 million.
The net loss after tax of $15.6 million is after the impact of one-off impairment charges of $3.4 million.
It continues to have a strong balance sheet with no debt and $10.3 million cash.
Founder John McGrath draws a $552,000 package and the CEO Geoff Lucas is on $588,000.
Its <a href="/news/kon-stathopoulos-departs-mcgrath-estate-agents">departed sales manager Kon Strathopolous</a> earned $528,000 in his last year having left in early June.
Its mortgage broker, Oxygen Home Loans saw total settlements value of $755 million which was down 3 percent on FY18. At the end of FY19, there were 30 brokers, a decline of one from FY18.
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It was noted Total Real Estate Training (TRET) which presents the AREC conference had been impacted in line with the challenging market conditions.
McGrath shares fell in morning trade to 23 cents.
Lucas signalled his aspiration for McGrath to be "market leader within five years."
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jchancellor-FAypfDUnLy

McGrath revenue falls 17 percent as vendor hibernation continues

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The historic 2,420 hectare farm, Blackwood near Dunkeld has been listed for sale by Rifa Salutary through a CBRE expressions of interest campaign closing September 5.
It was the Ritchie family who sold to <a href="https://www.realestate.com.au/sold/property-cropping-vic-penshurst-7580175" target="_blank">the Chinese owned farming operation Rifa Salutary in late 2013</a>.
The Chinese backed firm has listed several farms.
The director of Rifa Salutary and Vice President of Rifa Holding Group, Bobby Jiang, said the company felt the time was right to capture value as a result of completed expenditure and improvement programs, combined with the growth in land value of its recently accumulated farms.
Blackwood is regarded as a western districts' icon, with a history dating back to 1842, and outright ownership by the Ritchie family dating back to 1845.
It's 2014 sale was actually the second time the property had been sold by the Ritchie family as it was bought back in 1927 after an 11 year gap following the great war.
The Blackwood homestead, with private cemetery, is located on the Dunkeld - Blackwood Road, eight kilometres north east of the township of Penshurst.
<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/stories/2014/02/17/penshurst_feb_17_one.jpg" alt="penshurst_feb_17_one" width="470" height="313">
It comes with the original two roomed bluestone homestead, constructed after 1842; a second bluestone homestead built in 1864; a bluestone and timber woolshed, and the current Blackwood homestead, stables and coach house which were constructed in 1891 amid four acres of garden.
The land was first taken up as pre-emptive right by James Sceales in 1842, some 10 000 acres, and by October 1845, James Ritchie had full control of Blackwood having bought out his partner Sceales. James Ritchie had arrived from Scotland in April 1841.
Blackwood has most recently been farmed by Jason Ritchie, the son of the late Robin Ritchie, onetime chair of Energy Victoria and his wife, Eda Ritchie, the commissioner of the Shire of Moyne, a former president of the Victorian Liberal Party and the sister of Tammy Fraser and Hugh Beggs, the former head of the Wool Corporation.
The cemetery, surrounded by a bluestone fence, located some distance from the current homestead contains several unmarked graves of the Ritchie family, as well as and an obelisk dedicated to James Ritchie, who died in 1857, aged 45 when his horse bolted and threw him against a tree.
The main bluestone homestead and separate stable block was constructed in 1891 by the architectural firm, Butler and Ussher for Robert Blackwood Ritchie on a hill top overlooking the surrounding plains with view of the Grampian Ranges.
The homestead was constructed of local bluestone in the Picturesque Aesthetic style.
Bluestone has been combined with sandstone for window details, along with half timbering and plaster to the gable ends, all under Major's patent terracotta tiles from Bridgewater in the UK.
<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/Blackwood%20Dunkeld%201.jpg" alt="">
The interior is in the Jacobean manner and has dado paneling. 
Notes from the National Trust state that the tender accepted for the construction of the house was for 4790 pounds, 1000 pounds being allowed the contractor for 'old building'. The tender for the stables was for 1202 pounds.
The house and stables took 18 months to construct.
George Tibbits, in an article titled 'The So-Called Melbourne Domestic Queen Anne' describes Blackwood Homestead as one of the finest 19th century examples. 
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Bluestone Blackwood in Western Victoria listed by RIFA Chinese interests

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Kim Peabody, the wife of former Brisbane restauranteur TJ Peabody, has listed the couple's sprawling Chelmer home with a price guide of up to $11m.
It cost $2.85 million in 2003 when they were upgrading from St Lucia.
<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/TJ%20Peabody%20Chelmer%202.jpg" alt="">
Ray White New Farm agents Matt Lancashire and Meaghan Bakker have the riverfront listing.
The grand family home, which won the Master Builders House of the Year in 2009, was designed by Harry Poulous Architects using elements of classic American architecture.
Under the handcrafted Welsh slate roof with 34 roof pitches lies seven bedrooms, seven bathrooms, a billiard room with a bar and a walk in, climate controlled 1,200 bottle wine cellar.
<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/TJ%20Peabody%20Chelmer%203.jpg" alt="">
There's two fully self-contained guest houses in the 2,400 sqm landscaped gardens which also feature a championship-size, floodlit tennis court and a heated swimming pool, looked over by the barbecue kitchen alfresco space.
The heir to the $500 million Peabody fortune is selling to pay back his father who bailed him out when his Brisbane restaurant empire collapsed two years ago.
TJ Peabody had fine-dining establishments in Indooroopilly, Fortitude Valley and Petrie Terrace offering Italian, grill and Nantucket-style food.
His father, rich-lister Terry Peabody paid off creditor bills following the collapse.
TJ was adamant the sale was his decision, not a forced sale.
This article was first published in the Weekend Australian.
 
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firstname1-iYD4UYzvBa

TJ Peabody lists luxury Chelmer home

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<div class="assets">
The developer of an apartment block neighbouring the beleaguered Mascot Towers has disputed claims it could be to blame for the building's cracks.
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<div id="article-titan-mobile-pos1" class="advertisement">The Mascot Towers residents have been presented preliminary findings from a report into what may have caused the cracking, but the case has not been expressly pinpointed.</div>
<div class="advertisement"> </div>
<div class="advertisement">A meeting that lasted nearly 5 hours was held on Thursday night, attended by more than 300 people who were evacuated on June 14 due to worsening cracking and movements that date back many years.</div>
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There had been earlier engineering advice that potentially linked the building's issues partly to Aland's next-door development called Peak Towers.
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But Aland on Friday said it was "completely confident that an independent investigation will confirm that the failures at Mascot Towers are unrelated to construction nearby."
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"We believe the comments of the building commissioner at the NSW parliamentary inquiry support Aland's contention that the problems at Mascot Towers pre-date any work undertaken by Aland."
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After visiting Mascot Towers last week, the newly appointed building commissioner David Chandler told an upper house committee that he'd not seen many building as poorly built.
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"I'm quite certain the builder didn't know how to read any construction plans because the faults that are in that building are simply someone who didn't pay any attention to them," Mr Chandler told MPs.
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A dilapidation report prepared in 2017 for Aland's pending construction found parts of the Mascot Towers complex were in "reasonable-to-poor" prior to the construction of Peak Towers.
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It noted cases of cracking, material loss, material separation and efflorescence - the deposit of white crystalline salts on concrete.
The Daily Telegraph reported Aland rejected a request for access­ from lawyers representing the Mascot owners corporation for access because it “did not demonstrate a genuine need from an engineering perspective as to why it was required”.
“The information sought could either have been obtained­ from plans and associated reports relating to Peak Towers, or bore no relevance to the access that was requested,” it said.
Legal proceedings <a href="/news/not-us-says-aland-as-mascot-towers-crack-concerns-investigated-in-2011">against the adjacent ALAND-built Peak Towers building</a> are being considered after engineers were denied access to the site.  
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Aland deny any Mascot Towers culpability but refuse access to neighbours

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The 11th floor sub penthouse apartment at 150 Clarendon, encompassing more than 1,400 square metres of space, has been repriced down from its initial $46 million asking price.

On its May listing The Herald Sun reported the price was "unbelievable." The Age suggested the eye-watering price guide was seen as “fairly strong” by one buyers’ agent.

The price guidance has been dropped to $36 million to $39,600,000, in the statement of information advisory posted in mid-August.

Despite the white flag being flown, The Age reported its new price is "still pretty strong."

It is not the penthouse which was retain by the Salta development company Tarascio family who sold the sub-penthouse apartment off the plan in 2007 for $19.4 million.

It replaced the former Mercy Hospital.

Positioned overlooking Fitzroy Gardens with three-metre ceilings, <a href="https://whitefoxrealestate.com.au/property/1101150-clarendon-street-east-melbourne/" target="_blank">the home has enormous proportions</a>.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/16/Clarendon3.jpg">

It has an open-plan kitchen and living area, complete with a large marble island bench, Miele appliances, triple oven and a walk-in butler’s pantry.

The living areas open up for inside-outside entertaining and living.

The master bedroom is a hidden retreat with north and east-facing views to maximise sunrise and morning light.

It comes with what's marketed as a "decadent" ensuite with spa.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/16/Clarendon1.jpg">

There is a private west-facing office, study, a further three bedrooms with ensuites, private cinema, bar, and meditation room.

The marketing includes a video of the vendor, <a href="https://whitefoxrealestate.com.au/video/" rel="noreferrer noopener" target="_blank">Margaret Lou</a> who called the home “one of the best apartments in the world”.

“I looked everywhere, London, New York, Los Angeles, Shanghai, Beijing, everywhere,” Ms Lou said.

The property is held in the name of Hong Kong-based corporate vehicle Lou Property Holdings Ltd and settled in 2010 for $19,359,200.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/16/Clarendon4.jpg">

She plans to buy back into Melbourne later, possibly even the same apartment down the track, at double the price.

A Melbourne project on St Kilda Road, The Muse, has its OTP penthouse priced at $45 million.

The penthouse in Tim Gurner’s Saint Moritz project in St Kilda had an asking price of $30 million before being snapped up by property publishing entrepreneur Antony Catalano.

The highest confirmed apartment sale price in Melbourne is the yet to be completed $25 million penthouse of Australia 108.

<h2 class="p1">VIC properties selling now:</h2>

[smartcode_project:default project_id=3490]

[smartcode_project:default project_id=22803]

[smartcode_project:default project_id=3783]

 
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