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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The national ASX listed real estate agency The Agency is seeking a fresh injection of cash.
Shares in the debt-laden group went into a trading halt on Monday, pending an announcement about a capital raising.
It is expected on Wednesday.
The shares have lost two-thirds of its value since February when it was trading at 22 cents. Now they're at seven cents
Nine Entertainment reports "concerns about its financial viability."
The Australian Financial Review called it a "capital funding lifeline."
There was a capital raising last November.
The group continue to expand its operations however.
The Agency now operates in Perth, Sydney, Melbourne, the Gold Coast, Newcastle and Illawarra after sizeable expansions.
They <a href="/news/cameron-mckillop-merges-with-the-agency-in-the-southern-highlands">recently partnered</a> with Southern Highlands veteran agent Cameron McKillop and his team at McKillop Property. 
The Agency Group's June quarter update saw 674 exchanges, their highest on record.
In March this year The Agency reported it expects its core business units to be profitable within the next 12 months.
Shares <a href="/news/andrew-jensen-appointed-interim-chairman-of-the-agency">fell 15 percent in February</a> around the time Philip Re tendered his resignation as chairman. He was replaced with interim chairman Andrew Jensen, The Agency's former chief financial officer.
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The Agency seeks fresh injection of cash

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Seabell, one of the earliest homes ever built in Palm Beach, has been listed for sale for the first time in 100 years.
The Pacific Road estate was home to the late insurance industry veteran Laurie Seaman.
Seaman's grandfather built the sandstone home in 1918 when there were only four other houses on the hill overlooking Palm Beach and Pittwater.
Seaman died in a skiing accident in Charlotte’s Pass in 1928, along with his friend, Evan Hayes. It was the first skiing fatality in the history of the Australian Alps.
<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/2019/7/22/Seabell%20Palm%20Beach%203.jpg" alt="">
Built with stone quarried on site, the striking three level classic sandstone cottage on 2,070 sqm still features its large sandstone fireplaces, original hardwood floors and beamed ceilings.
There are five bedrooms, a home office and a freestanding artists' studio.
A number of dining terraces capture the views.  
The gardens, which featured on Burke's Backyard, have been expanded over the years.
<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/2019/7/22/Seabell%20Palm%20Beach.jpg" alt="">
Laurie opened the gardens for groups of senior sand disabled people who couldn't visit parks and reserves.
He would walk them through the meandering paths and over the drawbridge that he installed.  
Ray White Palm Beach agent Noel Nicholson has a guide of $5 million for its August 29 auction. 
 
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jrobinson-rf4aSBido9

Seabell, one of Palm Beach's earliest homes, listed for $5 million

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The property spruiker turned media magnate in the making, Antony Catalano and wife Stefanie have spent $5.6 million to buy back at Portsea, on the Mornington Peninsula.
It was marketed as Portsea's ultimate beach house.
The private estate on 2,330 square metres has a contemporary five bedroom home with a separate study and parent's retreat.
The open plan kitchen, living and dining area opens to an alfresco deck that meets a signature oval swimming pool.
A full size mod grass tennis court and trampoline are located in the manicured grounds. 
<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/2019/7/31/portsea%2012.jpg" alt="">
Peninsula Sotheby's agents Rob Curtain and Patrick Sinn secured the sale. 
Catalano, the former boss of the Domain, recently spent $30 million off the plan for one of the penthouses in Tim Gurner's St Kilda project St Moritz.
Earlier this year he bought the Australian Community Media's portfolio of 160 regional newspapers.
This article was first published in the Weekend Australian. 
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firstname1-iYD4UYzvBa

Former Domain boss Antony Catalano buys back into Portsea

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New house and land packages on suburban lots in developing estates around Beaudesert have been dominated by investors in recent years, according to the latest Herron Todd White (HTW) report. 
The report notes that this sector of the market on the Scenic Rim has slowed in contrast to the owner-occupier market.
Resales of houses in these estates are lower than the cost of the new house and land package indicating a price difference between new and second hand in these localities and a difference between what investors and owner-occupiers are prepared to pay for the same product.
"In contrast, locations in the Scenic Rim and Gold Coast hinterland that are dominated by owner-occupiers are proving very resilient in the face of negative media reports about the property market," the valuation firm said. 
A recent sale in Beaudesert is a four bedroom house located within the Kerry Hill Estate.
It was sold for $580,000. 
Built in 2012, the house at<a href="https://www.realestate.com.au/sold/property-house-qld-beaudesert-130081698" target="_blank"> 70 Panorama Drive</a> (pictured below) features open plan kitchen/living/dining with adjoining games room, four bedrooms, office or fifth bedroom and covered entertaining area. 
The home was sold at $197,000 in 2012 and $184 in 2008. 
<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/2019/6/27/beaudesert%201.jpg" alt="">
Rural residential housing and housing in some village locations such as Canungra and Tamborine Mountain remain in demand from buyers.
Felton (pictured below), a four bedroom historic home on two lush acres in Tamborine Mountain has been sold for $835,000.
It is believed to be designed and built for renowned architect George Henry Male Addition in 1887.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-tamborine+mountain-129827558" target="_blank">75-77 Benowa Street</a>, the home comes with four bedrooms, study or fifth bedroom, four bathrooms, two large living area, kitchen, verandas and inground pool.  <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/2019/6/27/tamborine%20mountain.jpg" alt="">
According to the HTW report, selling periods are relatively short and many properties are still selling at or around asking price.
Some of these areas are commuting distance from Brisbane and Gold Coast and buyers get more bang for their buck in these areas compared to their city neighbours as well as offering certain lifestyle features.
"Overall, buyers, sellers and agents appear to be keeping a cool head and while now is not the time to panic, it would be prudent to fully research the market in these localities prior to committing to a property," the report said. 
"Unlike the heated market of previous years, there are no time pressures about making a decision to buy, no fear of missing out eating away at people’s thoughts, so as we move toward a buyer’s market, purchasers are able to take the time to thoroughly inspect properties, do the research and shop around." 
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Gold Coast hinterland and Scenic Rim owner-occupier market proves resilient: HTW residential 

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Launceston is continuing to record positive price movement, albeit at a more subdued rate than 2018, according to a recent Herron Todd White (HTW) residential report. 
"We would suggest it is unlikely double-digit growth will be recorded this year, however it may not be far under," the valuation firm said. 
A townhouse situated in the heart of Launceston City recently sold for $700,000 (pictured above).
As an exceptional example of early Launceston architecture, the circa 1840s townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-tas-launceston-130604134" target="_blank">110 Cameron Street </a>comes with two living rooms, four bedrooms upstairs and north facing paved courtyard.
It was last sold at $455,000 in 2005.
"Interestingly, the activities of a Queensland based buying advocate firm acquiring residential property on behalf of SMSFs have resulted in a number of rentals being available," the report said.
"The vacancy rate has lifted a few points as a result and we are seeing a stabilisation of rental growth." 
<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/2019/7/10/launceston%202.jpg" alt="">
A fully furnished and fully renovated two bedroom unit in Launceston is currently on the rental market with a price of $450 per week (pictured above). 
The unit at<a href="https://www.realestate.com.au/property-unit-tas-launceston-426784470" target="_blank"> 4/43-47 Elizabeth Street </a>comes with large open plan living, two bedrooms, modern kitchen and secure parking space. 
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Launceston sees positive price movement: HTW residential 

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There is a declining residential market in Illawarra, according to the latest Herron Todd (HTW) residential report. 
The report notes that residential sales activity in Illawarra is below where it was during the peaking 2013 to 2017 years, but has not ground to a complete halt.
Transactions are still happening, especially where vendor pricing is realistic in the current market.
"Selling periods of three to six weeks are still common when the property is priced correctly, but there are many cases of long listings or multiple agents being used when vendor’s hold onto a belief their property can still command a peak price," the valuation firm said. 
Corelogic has reported that over the three months to April 2019, 75.6% of properties across the country sold for less than their original list price and this phenomenon of discounting is clearly evident in the Illawarra.
A property at <a href="https://www.realestate.com.au/sold/property-house-nsw-thirroul-130350018" target="_blank">73 Armagh Parade, Thirroul </a>(pictured below) has recently sold for $755,000 after initially being listed for $880,000 to $930,000.
It comprises three bedrooms, lounge, combined dining and kitchen, balcony and large double garage. 
<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/2019/6/25/thirroul.jpg" alt="">
Another property at <a href="https://www.realestate.com.au/sold/property-house-nsw-flinders-130196578" target="_blank">40 Brunderee Road, Flinders</a> (pictured below) was sold for $679,000 after initially being listed for $829,000.
Set on a 472 square metre block, the single level home comes with four bedrooms, open plan living and dining space, alfresco area, central kitchen and double garage. 
<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/2019/6/25/flinders%20.jpg" alt="">
"A big surprise for 2019 is that rents have remained relatively stable," the valuation firm said.
"With recent huge supply of new housing in growth corridors and units in the Wollongong CBD it was expected that rental demand and subsequently prices could drop.
"This doesn’t appear to be the case with property managers reporting decent demand for stock and overall rent prices holding."
A two bedroom unit located near the heart of Wollongong has been listed for lease with a price of $460 per week. 
Situated within a full security building, the unit at 54/313 Crown Street (pictured below) comes with two bedrooms, combined lounge and living room, large balcony and modern 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/2019/6/25/gong.jpg" alt="">
According to the report, while this is not great news for tenants hoping for some rent relief, it is encouraging to investors.
A decline in selling prices means investors are able to get higher returns than were available at the peak period.
Gross yields as low as 4.25% were being experienced for investment properties at the back end of 2017.
A block of five two-bedroom units in West Wollongong sold for $1.1 million recently which shows a gross passing return to the investor of 6.15% with scope for increases in the future.
"With interest rates still low and rents stable these returns are slowly drawing some investors back to the market," the valuation firm said. 
<img src="blob:https://www.urban.com.au/0e441a37-cc7f-47f5-adbc-484381ca0c4a" alt="page10image5823328" width="0.500000" height="0.500000"><img src="blob:https://www.urban.com.au/a320459c-665d-4f51-8b0f-16a51205e720" alt="page10image12082752" width="0.500000" height="0.500000">
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Illawarra rentals remain stable as sales activity slows: HTW residential 

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Cricketer Shane Warne is selling a Brighton home he only bought last March, The Herald Sun has reported.
It is speculated Warne is seeking about $8 million.
The Newbay Crescent contemporary double-storey home with a home theatre, pool and spa, was bought from private investigator Anthony Thompson for $5.4 million before its modernisation.
It was previously owned by the Essendon champion Matthew Lloyd, for nine years until 2015.
Warne is a frequent player on Brighton's property scene, and he's made a handsome profit playing the game.
He's owned the trophy home Melville twice.
He first bought it for $3.6 million in 2000, spending around the same amount on renovations and selling for $8.8 million in 2007.
He then <a href="/news/shane-warne-boomeranging-back-to-former-brighton-home-melville">bought the property back in 2016</a>, paying $14.2 million, only to <a href="/news/shane-warnes-6-million-brighton-flip-windfall">sell it 20 months later</a>, with no extras, for $18,888,888.
That was the biggest play in Warne's long history of flipping in Brighton
Fairfax Media prepped a timeline of his flipping on his purchase last year.
1996: The beachfront home at 102 Esplanade is bought by Warne for $902,000.
2000: After renovations, 102 Esplanade fetches $2.61 million.
2000: Warne and Simone Callahan pay $3.6 million for a circa-1880 Victorian residence at 32 Middle Crescent, and reportedly spend a similar sum in renovations. 
2007: The couple sell the Middle Crescent mansion for $8.8 million.
2007: For $3.7 million, Warne scoops up the five-bedroom house at 16 Park Street.
2009: The Park Street property sells for $6,775,000.
2009: Warne forks out $7.55 million on heritage-listed residence at 6 William Street, which he goes on to share with Elizabeth Hurley after he splits with Callahan.
2013:The William Street mansion sells for $10.85 million.
2014: Warne spends $3.95 million on mini-manor at 11 Kinane Street.
2016: In a move that made headlines, Warne buys back 32 Middle Crescent for $14.25 million.
2016: 11 Kinane Street sells for $5.35 million.
2018: Warne offloads 32 Middle Crescent for about $20 million.
2018: Warne buys a nearby property for about $5.5 million.
 
 
 
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Speculation that Shane Warne seeks to flip his Brighton home

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Australian billionaire Anthony Pratt is in talks to buy the New York estate of Hollywood actors Catherine Zeta-Jones and Michael Douglas, according to the New York Post.
He's reported to be set to pay around $15 million for the Westchester property that Zeta-Jones and Douglas bought for around $11.25 million five years ago.
The 1895-built home in Bedford Corners has eight bedrooms, 18 bathrooms and a designer kitchen.
The amenities list is long.
There's spa facilities with two indoor pools, a gym, sauna and steam room.
There's also an outdoor pool, tennis court, a guest cottage with two apartments, a Lord &amp; Burnham greenhouse and a collector's garage.
For the horse lover there's a four stall barn, an outdoor ring, four paddocks and direct access to vast riding trails on the Bedford Riding Lanes.
The home has been renovated throughout by Zeta-Jones, who documented the transformation on Instagram with the hashtag #StyleByZeta.
Pratt is the executive chairman of Visy and Pratt Industries in the US, the world’s largest privately owned packaging and paper company.
The family has a net work of around $15 billion. 
Photo credit: NY Post 
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wdavis-8cCN98p7xp

Anthony Pratt to buy New York home of Catherine Zeta-Jones and Michael Douglas

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The would-be residents of Sugarcane and Honeycomb, the uninhabitable Erskineville residential complexes built on possibly toxic land, likely face more months of being unable to access their dwellings.
The City of Sydney Council has concerns about the Chinese-backed developer, Golden Rain Development not meeting the required remediation conditions.
Buyers were told on their purchase to expect an April 2018 move-in date.
In February 2015 timeline expectations were as follows:
<ul>
<li>Demolition of existing industrial buildings on the site</li>
<li>Removal of trees</li>
<li>Construction of a multi-level apartment building with a two-level basement on the southern portion of the site (Sugarcube apartments)</li>
<li>Construction of 18, three-bedroom terrace development on the north portion of the site (Honeycombe Terraces)</li>
<li>Construction of new roads, pedestrian links and public domain works to be dedicated to Council</li>
</ul>
There are ongoing fears of contaminated groundwater on the former Monier roofing tiles site which had residue heavy metals, hydrocarbons and asbestos from its days as an industrial suburb.
Sydney Council confirmed that no final site contamination audit statement had been lodged.
"A private certifier issued the construction certificate to allow construction to proceed on the site despite not having received the final site audit statement," a SCC spokesperson said.
"City staff have been in ongoing discussions with the developer, who has not complied with the development consent conditions concerning remediation of the site."
It advised the developer has since provided further test results of the contaminants on the site and an assessment of the risk.
"Council is currently reviewing this material and is likely to seek some further information from the developer."
A spokesperson for Golden Rain Development said they "understood the delays have caused frustration."
It claimed the delays are due to requests by the City of Sydney relating to testing of groundwater near access roads and pedestrian walkways on the site.
"As Council will take ownership of these roads and walkways, it has asked for the additional testing before the final occupation certificate can be issued for the development."
"Golden Rain Development will continue to work with the City of Sydney to ensure Council is satisfied the site meets all health and safety requirements, and apartment owners can begin enjoying their new homes as soon as possible," the spokesperson said.
The City of Sydney approval came with a required $736,000 by the developer for a walkway.
The projects are within the Ashmore Precinct, one of the City of Sydney's biggest urban growth precincts.
The 17 hectare site, bounded by Ashmore Street, Mitchell Road, Coulson Street and the Bankstown railway line, is expected to have 6,000 residents by 2025.
A Sydney contamination auditor expects there will be a "long delay" for residents in getting into the upmarket projects where studio prices fetched $550,000 plus.
Industry experts have questioned how the project construction began without the necessary documentation in place.
"How did this build ever start in the first place?" a conveyancer said.
In NSW the management of contaminated land is “shared” by the Environment Protection Authority, the state Department of Planning and Environment and local councils.
Both projects were a finalist in "excellence in marketing" at the 2016 UDIA Awards.
The selling estate agents Colliers International declined to advise on the status of the sales contracts secured between 2015 and 2016, along with when the strata plan would be registered.
"All enquiries should be referred to Golden Rain Development," Colliers residential managing director Peter Chittenden said.
It is understood that some buyers have sought to terminate the sales contract and receive a refund of their deposit.
Nearby resales in other unaffected complex have shown no price growth over the past three years.
Golden Rain's ultimate owner is based in the British Virgin Islands.
One local director is 54 year old Bernard Chi, who has a 34th floor Bathurst Street, Sydney apartment. Another associated director is 55 year old Anne Bi, from West Pennant Hills.
The other directors give Hong Kong addresses.
A $1 million Sugarcube buyer Nick Rehac said he was "not allowed to stay here."
"We have no power," he told reporters as he stood in front of a fence preventing him to access the building.
"They took the money."
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Honeycomb and Sugarcube residents to wait on contaminant tests

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Although there’s plenty of stock on market, it has been a busy winter for prestige hobby farm sales in the NSW Southern Highlands.
Topping the list of whisper quiet sales has been Widgee Waa, which was offered by the retired merchant banker turned green finance advocate Mark Burrows.
He’s retained Sugarloaf Farm, with its acclaimed garden with Wollemi pine, but reputedly ­secured a very bullish $14.5 million for Widgee Waa. The price just falls short of the $15 million Southern Highlands record.
Widgee Waa, set on 150ha at East Kangaloon, is an aggregation built up over 31 years, since around the time when Burrows was head of investment bank advisory Baring Brothers Burrows.
The property has cattle farming infrastructure, a manager’s cottage plus stable facilities for a significant brood mare and thoroughbred horse operation.
It was listed by Christies International agent Ken Jacobs in conjunction with Meares &amp; Co agent Chris Meares.
<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/2019/7/22/Widgee%20Waa%202.jpg" alt="">
The 200ha property Comfort Hill at Sutton Forest that sold to the late international television show veteran Reg Grundy in 2007 retains the record of $15 million in the Highlands. Last month Pepper Tree Creek Estate, one of Kangaloon’s oldest properties, sold for $6.7 million to the Sartorel family through Di Jones agent Kate McCullagh.
The 30ha property was established in 1862, around the time the early settlers of Kangaloon and Robertson areas started purchasing land.
Its stone cottage, plus out buildings and dry stones walls, including a quaint dairy, were built during that time. A team of landscapers, builders, horticulturalists and green keepers recreated the estate.
There are 40-plus offerings priced at $3 million or over on­ ­realestate.com.au.
This article was first published in the Sunday Telegraph.
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