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 Coffs Coast saw a subdued start to 2019 with buyer negativity creeping into the market, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that this negativity is a result of a combination of factors including the fallout from the Royal Commission into banking practices and the impact this has had on lending policies and available finance.
There has also been reduced interest from capital city markets, increased APRA lending restrictions for broader investment loans and continuing media reports of declining market conditions in the capital cities.
"The recent state and federal elections which have seen extensive campaigning with regard to property affordability (first home buyers), potential changes to negative gearing and superannuation tax laws, have all combined to put a very negative or uncertain picture in a potential buyer’s mind," HTW said. 
"Notwithstanding this, the local market remains generally firm although sale volumes and general activity has softened, " the valuation firm said. 
Current anecdotal evidence indicates that although most good quality property types are holding value, there is noticeable buyer resistance for property that is either overpriced, lacking in key features or in a secondary location.
There is still reasonable demand and some continuing increases in value being experienced for entry-level residential product or blue chip areas where supply is low and demand high.
The report notes that the rural residential market is continuing to remain strong with a noticeable increase in activity with short selling periods.
The market most affected by the general softening is the prestige sector ($1 million plus) which is predominantly driven by out of town purchasers.
"There are no real surprises in the market to report so far in 2019," the valuation firm commented. 
<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/2019/6/20/sawtell%20.jpg" alt="">
A recent $1 million plus sale was a waterfront house at Sawtell, a coastal village near Coffs Harbour.
The two level house at<a href="https://www.realestate.com.au/sold/property-house-nsw-sawtell-130033510" target="_blank"> 26 Tom Albert Place</a> (pictured above) has been sold for $1,045,000.
Set on an 876 square metre block, it features a formal lounge room, separate open plan living/dining space, three bedrooms, central kitchen and boat access to the water. 
<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/2019/6/20/sapphire%20beach.jpg" alt="">
A Mediterranean style mansion with ocean and coastal views is on the market with $1,895,000.
Built by one of Coffs Harbour's most respected builders, the home at <a href="https://www.realestate.com.au/property-house-nsw-sapphire+beach-131209210" target="_blank">111G Sugarmill Road</a> (pictured above) comes with five bedrooms, 4.24 hectares of low maintenance gardens and circular driveway plus formal entrance. 
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j.ballantyne1990-6AQqhLzZaK

Coffs Harbour market softens with reduced sales volumes: HTW residential 

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After a period of declining values, the residential property market in the Western Australian region around Australind and Eaton has received a potential boost. 
The commencement of construction of the new $1 billion lithium processing plant at Kemerton could provide a lift to these markets, according to a recent Herron Todd White (HTW) residential report.
The report suggests in excess of 600 new jobs will be created and the doubling of production at the Greenbushes lithium mine has already seen 200 new employees.
The respective companies behind these significant regional enterprises are specifying that the workforce must live within 50 kilometres.
"Where previously property values in this catchment have been steadily falling over a number of years, there is now cautious optimism, with new sub-divisions emerging in Donnybrook, Eaton and Glen Iris," the valuation firm said. 
The report notes that real estate agents are seeking new stock to sell as investors begin to purchase the properties that have been on the market for a noticeable period of time.
"It is realistic to say that the region remains a buyer’s market for the time being, however it is anticipated that stability will be introduced in coming months," the valuation firm said. 
One related observation has been the recent sale of a number of executive dwellings in Bridgetown and Manjimup with prices over $700,000 being achieved for three properties, which is setting a new upper price bracket for these quality houses as mining executives are looking to re-locate to the South West.
A four bedroom house located just a few minutes' drive to the centre of Bridgetown has recently been sold for $700,000.
Sitting on one acre, the family home at <a href="https://www.realestate.com.au/sold/property-house-wa-bridgetown-130361910" target="_blank">19 Devon Place </a>(pictured below) comprises open plan kitchen/diner, separate family room, study, lounge, master bedroom and three additional double bedrooms.
Other features include solar hot water, garden sheds, laundry with fitted cupboards 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/2019/7/10/bridgetown%20.jpg" alt="">
"The overall review of the South West land division residential property market, however, is best described as weakening with downward pressure on values particularly in the outlying localities such as Dalyellup in Bunbury, Provence and Kealy in Busselton, and Brookfield in Margaret River," HTW said.  
A four bedroom house located in Stage 1 of Dayleyllup Beach Estate has recently been sold for $405,000.
Located at <a href="https://www.realestate.com.au/sold/property-house-wa-dalyellup-129800938" target="_blank">13 Kularda Road</a> (pictured below), the home was sold for $451,000 in 2011.
It comes with open plan living, formal lounge, study, master suite, three additional bedrooms, two patio areas and swimming 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/2019/7/10/dalyellup%20.jpg" alt="">
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South West WA market boosted by new lithium processing plant : HTW residential 

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The inner and middle-rings of Adelaide are pushing up the city's overall median house price, according to a recent Herron Todd White (HTW) residential report. 
The report suggests these market segments were the best performing over the first six months of 2019 as the outer ring remained stable.
"In the shadows of the banking royal commission and the downward spiralling east coast markets, the claim was made that the Adelaide housing market would buck the trend with sustained growth," the valuation firm said. 
"Positive market sentiment is being driven within the media with a constant flow of articles spruiking the Adelaide market. Watching from the bleachers, things appear positive... but those with front row seats are seeing things a little differently."
Nailsworth, Evandale, Black Forest and Allenby Gardens have all been high achievers over 2019’s first half, it said. 
Each of these suburbs comprise an area of less than one square kilometre and are characterised by turn of the century dwellings on modest allotments.
Nailsworth is an inner northern suburb located approximately 5.2 kilometres from the CBD.
It had a number of transactions in the first half of the year, with a median of $655,000.
At the top end of the pile is the suburb’s record sale of<a href="https://www.realestate.com.au/sold/property-house-sa-nailsworth-129604950" target="_blank"> 51 Balfour Street </a>(pictured below) which achieved a sale price $1.21 million in January.
This sale eclipsed the previous record of $1.07 million set in 2017.
This property comprises a fully renovated and extended bungalow disposed as four bedrooms and two bathrooms on a 698 square metre allotment.
<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/2019/7/9/nailsworth.jpg" alt="">
In the second half of 2018, the small north- eastern suburb of Evandale located some 5.5 kilometres from the CBD had eight dwelling sales settle with a median of $690,000.
In the six months post, Evandale has had five transactions at a median of $880,000 showing an increase of approximately 27%.
<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/2019/7/9/evandale%20.jpg" alt="">
Recent sales include<a href="https://www.realestate.com.au/sold/property-house-sa-evandale-130666446" target="_blank"> 44 Elizabeth Street</a> ($844,000, pictured above), a four-bedroom, two-bathroom blue stone villa on a 534 square metre allotment and <a href="https://www.realestate.com.au/sold/property-house-sa-evandale-130674190" target="_blank">10 Leslie Street </a>($885,000, pictured below), a four-bedroom, two-bathroom circa 1990s reproduction dwelling on a 552 square metre allotment.
<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/2019/7/9/evandale%202.jpg" alt="">
Black Forest is situated 4.7 kilometres south west of the CBD and is serviced by both the Brighton train line and Glenelg tram line.
Fifteen transactions have been recorded within the past 12 months with prices ranging between $430,000 and $1 million.
The first half of 2019 has seen a 7% increase in dwelling values with Black Forest having a current median dwelling price of $745,000.
Purchased at the median in April was <a href="https://www.realestate.com.au/sold/property-house-sa-black+forest-130456994" target="_blank">4 Forest Avenue</a> (pictured below) for $755,000.
This is a circa 1930s, four-bedroom, two-bathroom Tudor style dwelling on an allotment of approximately 603 square metres.
<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/2019/7/9/black%20forest%20.jpg" alt="">
Allenby Gardens is located 6.1 kilometres north- west of the CBD and six kilometres east of Grange Beach.
The suburb comprises a mixture of early and mid 1900s dwellings with a significant amount of 1990s and 2000s infill development.
The first half of 2019 saw a 24% increase in the median dwelling price from the back end of 2018 to currently sit at $685,000.
Of the 2019 sales,<a href="https://www.realestate.com.au/sold/property-house-sa-allenby+gardens-130071490" target="_blank"> 27B Barham Street</a> (pictured below) for $470,000 represents the entry price point for the suburb.
<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/2019/7/9/allenby%20garden%20.jpg" alt="">
This property comprises a circa 2018 community titled brick veneer dwelling disposed as three bedrooms and two bathrooms on an allotment of 266 square metres.
"The outer ring remained relatively flat over the first six months of 2019," HTW said. 
"Good reference points for this market segment are Golden Grove north-east, Morphett Vale south and Paralowie north of the city.
"Each of these suburbs is geographically large and has a high turnover of stock with the two latter each constantly achieving 200-plus transactions annually."
Sales data shows both Paralowie and Morphett Vale have remained stable with median prices hovering between $300,000 and $315,000 since late 2016.
Golden Grove saw a reduction in the median dwelling price from $475,000 in the second half of 2018 to $435,000 in the first half of 2019.
The report notes that the outer ring is considered more susceptible to slowing market conditions.
"These suburbs will be important reference points over the next 12 months to provide an indication of how the broader outer ring is tracking," the report said. 
"Taking a broader look at the market, the March quarter is one of the most active and provides an important insight into how the market tracked over the busy summer months.
"The median house price grew in the March quarter by 0.625% to be at a record high of $480,000. This sparked significant media and deservedly so on face value.
"When you dig a little deeper, the 2018 and 2017 March quarters each had growth of 1.1% and 1.7% respectively. So, we had growth in the March quarter but at the slowest rate since 2016 which saw a reduction in the median house price."
On the auction front, for the four weeks post Easter, clearance rates faded to below 50%. For the same four-week period in 2018, clearance rates varied between 59% and 70%.
These numbers are backed up by agents in the field who are reporting a slowing in buyer activity with an increased amount of stock on the market. The numbers are suggesting that the market is slowing.
"Things have been looking rosy for 12 to 24 months. The expectation is that property prices will remain stable over the second half of 2019.
"The hope is that those who stop to smell the roses don’t start detecting a stench."
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Adelaide inner and middle-rings performing strongly: HTW residential 

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The Hobart market is starting to show signs it is approaching or has reached its current cycle price peak, according to a recent Herron Todd White (HTW) residential report. 
CoreLogic suggests that the median price actually slipped in March.
"On the ground, we are seeing a flattening of prices in the inner ring, however demand for prestige remains historically firm," the valuation firm said. 
A recent over $1 million sale was a three bedroom penthouse apartment located in the heart of Hobart City (pictured below). 
The inner city apartment at <a href="https://www.realestate.com.au/sold/property-apartment-tas-hobart-131418934" target="_blank">5A/117 Collins Street</a> comprises of open plan living, master bedroom, two additional bedrooms with built in wardrobes and two secure car spaces. 
It's located near Salamanca and the Wharf. 
<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/hobart%201.jpg" alt="">
HTW said it's a different story in the middle to outer ring, however positive pricing and competition for housing is still evident. 
"This is true for the 50-kilometre commuter radius," the report said. 
A waterside house nestled on the banks of Gypsy Bay is on the market with over $550,000 hopes (pictured below). 
Sitting on a 564 square metre allotment, the home at <a href="https://www.realestate.com.au/property-house-tas-primrose+sands-131433790" target="_blank">113 Linden Road, Primrose Sands </a>comprises open plan living, kitchen with granite benchtops, two bedrooms and rear yard. 
Local boat ramp is only a few minutes away together with local convenience store and beaches.
Vacancy rates remain tight with little evidence of the housing shortage easing.
<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/primrose%20sands%20.jpg" alt=""> 
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Hobart market may have already peaked: HTW residential 

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The owners of the 30 evacuated Zetland apartment block are considering suing their former lawyers as they face a $5 million repair bill to fix the apartments that were evacuated last November.
The Sydney Morning Herald revealed the Chambers Russell law firm has advised them they have “reasonably good prospects” of running a negligence case against their former lawyers.
It was Makinson d’Apice who helped the owners corporation settle a $1.7 million insurance claim for waterproofing defects in last year on the condition that no further claims could be made against the insurer.
As the repair works were carried out, “critical” defects were then uncovered.
“We are already very concerned with the conduct of your former solicitors and a number of experts engaged,” said a position paper circulated by Chambers Russell.
It noted Makinson advised the owners corporation not to undertake temporary works that may well have prevented some of the very significant fire safety issues that now exist. Chambers Russell also noted the settlement had given “little” consideration to alternative accommodation costs and had compromised the owners’ ability to take action against other parties.
Makinson d'Apice partner Alex Kohn has denied the allegations and labelled them defamatory.
"They are unsubstantiated and if they ever mature into active claims against us, those assertions and allegations will be vigorously contested," Mr Kohn said.
Chambers has advised the strata apartment owners the law firm was prepared to run the Makinson case on a no-win no-fee basis.
Owners were briefed by Chambers at an information meeting conduced by the owners corporation.
 
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Garland Lofts, Zetland apartment evacuees consider legal action

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Nova FM’s Michael “Wippa” Wipfli and wife Lisa have bought in Rose Bay, quietly securing a six-bedroom Mediterranean-style 1940s villa that was listed on the market for the first time in two decades.
The three-level home with a grand circular staircase and verandas on each level was bought in late April with initially suggestions it cost around $6.5 million.
It has now emerged they paid $6.35 million.
With a pool and spa, the home last traded off-market in 1999 when bought by recruitment industry veteran Gerry Davis and wife Virginia, for $1,465,000.
Earlier this month the Wipflis finally sold their Queens Park workers cottage for $2.4 million to chef Nigel Ward.
This article was first published in The Daily Telegraph. 
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Nova FM's Wippa buys in Rose Bay

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The Blue Mountains trophy home, The Highlands at Leura has been listed for sale.
It is the four-bedroom, two-bathroom, 1911 summer house built in the arts and crafts style for the once famous Fay’s shoe family.
Purcell Property agent Brenden Purcell has a $2 million to $2.2 million guide for the 2793 square metre Lachlan Street estate which was initially set in Paul Sorensen-designed gardens.
“With the owners relocating overseas it is time for a new story,” Purcell said.
It first sold to solicitor Barney Utz in 1939 and was last in the headlines when sold in 1997 for $448,000 by Lord Andrew Battenberg, also known as Andrew Charles Lee.
There was silly chatter of Battenberg being the illegitimate son of Prince Philip, but this was officially denied by the Duke of Edinburgh’s office.
There have been 12 sales at Leura above $2 million, the most recent for Eulara when $2.1 million was paid.
This article was first published in the Sunday Telegraph. 
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The Highlands, Leura trophy with colourful history listed

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Byron Bay-based model and swimwear designer Olive Cooke and her fiance, Henry Tervenski, have bought their first property together.
They’ve recently settled on a building block in Epiq Lennox, the masterplanned housing development in Lennox Head, located between Byron Bay and Ballina on NSW’s north coast.
They’ll no doubt be looking to Tervenski’s building skills as he works for a local building company.
They paid $320,000 for the 600 square metre land holding, having committed to the purchase two years ago.
Cooke, who is originally from Western Australia, might seek a mid-century modern home after her recent trip to Palm Springs, the home of the architectural movement.
“After seeing so many photos, I needed to see Palm Springs with my own eyes,” she told her 278,000 followers.
“She didn’t disappoint, well and truly, every bit the palm tree dotted mid-century modernism, architectural dream I had envisioned,” Cooke posted.
The couple got engaged in Hawaii, having met over 15 Margaritas.
“We are not traditional so are just planning a huge party for 2020, a day to celebrate love with all your favourite people,” Cooke, who runs swimwear label Cooke &amp; Kin, said.
This article was first published in the Sunday Telegraph.
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Model and swimwear designer Olive Cooke buys Lennox Head building block

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The wider Perth area has seen some stability in its median price, according to a recent Herron Todd White residential report. 
"The residential market in Perth has tracked closely in line with our February predictions for the year (so far)," the valuation firm said. 
"Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes."
The report notes that the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
REIWA data shows that there were 6,636 properties sold in the March quarter, proving Perth’s state of subdued activity.
REIWA reports that “although overall sales are down, 10% of suburbs experienced stable or increased volumes”. This is a positive sign as there are improvements in some sub markets, and it shows the differences between Perth’s inner and outer suburbs.
Figure 1 shows the distribution of wider Perth area house sales by price bracket.
In the December 2018 quarter, 64% of homes sold below $600,000.
This figure jumped to 70% in the recent March quarter, indicating that affordability is continually improving, but it is also a symptom of a decline in prestige activity.
<a href="https://www.propertyobserver.com.au/images/2019/7/10/figure%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/figure%201.jpg" alt="">
President of REIWA Damian Collins states that this affordability “presents excellent opportunities for first home buyers, trade-up buyers, downsizers and investors to secure a good deal”.
According to the report, listings have increased 6% since the December 2018 quarter to 16,957 which isn’t helping selling periods.
It took an average of 78 days for vendors to sell their properties last quarter. This is a significant jump from the 68 days to sell in the December 2018 quarter.
It can be attributed to new land releases as well as a softening in demand across the board.
Collins recently said “it’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations”.
"This is key to avoid the extended selling periods that we have been seeing far too often," HTW said.
"Our valuers are seeing frequent evidence of properties becoming stale in the market place due to the initial asking price being out of kilter with the market and the eventual sale price of these properties is often below what market evidence suggests they should achieve."
The rental sphere was once again increasingly active in the March 2019 quarter, favouring investors and shortening the Perth vacancy rate to 2.5%.
The median rental price remained stable at $350 per week for a ninth consecutive quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs increased over the past year.
If the rental market continues in this direction we should inevitably see an increase in Perth’s median rent over the coming seasons.
In terms of activity, 14,003 properties were leased during the March 2019 quarter, almost 9% more than the December 2018 quarter.
There were 6,738 properties listed for rent at the end of the March quarter 2019, which was 2% lower than the December quarter figure and 25% lower than the same time last year, showing that competition amongst tenants is ramping up.
It took two days less to find a tenant during the March quarter, decreasing to 42 days.
This figure has crept downwards since the peak of 57 days in June 2017 and shows that tenants need to be decisive and act fast to secure their preferred property.
A three bedroom house located in the heart of Victoria Park has been listed for lease with a price guide of $360 per week (pictured below).
The house at<a href="https://www.realestate.com.au/property-house-wa-victoria+park-417286626" target="_blank"> 45 McMaster Street </a>comprises open plan living, renovated kitchen, three bedrooms, and enclosed patio with kitchenette.
It's close to Victoria Park Central Shopping Centre, main highways and train station. 
<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/victoria%20park.jpg" alt="">
The suburbs that recorded the best and worst median price growth over the March 2019 quarter are in Figure 2.
<a href="https://www.propertyobserver.com.au/images/2019/7/10/perth%20figure%202.jpg" target="_blank">Click here </a>to enlarge: <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/perth%20figure%202.jpg" alt="" style="font-size: 12.16px;">
<a href="https://www.propertyobserver.com.au/images/2019/7/10/perth%20figure%203.jpg" target="_blank">Click here</a> to enlarge:
<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/perth%20figure%203.jpg" alt="">
Note that both Burswood and South Guildford are benefiting from the sale of properties in new developments.
The Peninsula development by Mirvac would be significantly affecting Burswood’s median as some of the properties are selling for over $1.7 million.
A few lifestyle living areas have been active over the past six months including Mundaring, Glen Forrest, and Serpentine.
Suburban North Lake has tracked well, jumping 8.5% quarter-on-quarter.
This was surprising to see as North Lake’s surroundings have been disrupted lately by the development of the Murdoch Drive Connection – adding extensions from the Kwinana Freeway and Roe Highway to the Murdoch Activity Centre and Health Precinct.
Peppermint Grove has surged over the past quarter taking its median house price from $3.45 million up to $4.025 million.
A current listing in Peppermint Grove is a five bedroom resort style home priced at $3.985 million (pictured below).
Set on a 766 square metre block, the refurbished home at <a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-119597415" target="_blank">14A View Street</a> comes with five bedrooms, home cinema, kitchen with Miele appliance and solar heated swimming pool.
Nestled among private schools, the home is within walking distance to the Swan River and Cottesloe Beach. 
<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/peppermint%20grove.jpg" alt=""> 
There has been a fair amount of activity in this region which is nice to see, as the prestige market (previously helping to stabilise the Perth median) faltered over the March 2019 quarter, showing signs of volatility.
Cottesloe, Swanbourne, Mosman Park, North Fremantle, Attadale, Bicton and Dalkeith all experienced decreases in their annual median house prices.
"This is understandable however, as the March quarter usually experiences an increase in listings," the valuation firm said. 
On top of this, consumer confidence has been low; the fallout from the Banking Royal Commission has created a challenging financial market, and with the distraction of a federal election, homeowners and investors would be hesitant to make any big moves.
There has been a lot of media coverage around the declining Australian property market (mainly surrounding Sydney and Melbourne) and this isn’t helping confidence in the Western Australian market even though our property market is in a different stage of the cycle to the eastern states.
All of this has forced sales volumes to drop, selling periods to extend and top-end prices have fallen as a result.
"In the upgrader market, our valuers are still seeing a fair amount of activity, however home buyers are generally seeking to purchase at a discounted rate," the report said.
This is pushing out selling periods and it seems that prices may continue to soften as a result, further improving affordability."
Perth’s fringe is still being suffocated by chronic oversupply.
Baldivis is continuing its decline due to consistent land releases putting downward pressure on established dwelling sale prices.
As an example, a property on Avoca Chase had a summated cost of $285,000 in April 2018, being one of the cheapest we had seen at the time.
It was sold in March 2019 on completion for $225,000, declining 21% throughout its construction period.
This sales figure is actually considered to be fairly cheap, however it’s part of the unfortunate truth in the current market.
Properties in oversupplied regions need to be priced very keenly in order to achieve a quick selling period and avoid them going stale on the market, so listen to the advice of agents about what is realistic and appropriate.
Developing suburbs in the south-east are in a similar situation. Whitby and Byford have softened over the past six months and it is expected that these areas will stay flat for the remainder of 2019.
"Our predictions for the rest of the year are fairly simple for Perth’s outer regions.
"We expect to see no rebound in 2019 and assume that medians in these areas will continue their slow descent to wherever the median price floor holds, but we expect the overall median house price to remain relatively steady for the wider Perth area as upgraders take advantage of the buying opportunities that are available in many sought after areas."
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Median prices in wider Perth area are stabilising:  HTW residential 

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The property market within Mount Gambier was relatively stable for the first quarter, according to a recent Herron Todd White (HTW) residential report. 
The report suggests that the number of house sales occurring in the first quarter has been steady.
In 2014 house sales were slightly higher, however there has not been a significant drop in sales numbers which are still much higher than in 2011 when the market dropped back.
"The most purchased dwelling price range within the last 12 months is $200,000 to $250,000," the valuation firm said. 
"There are few dwellings purchased over $500,000 or under $150,000.
"The $200,000 to $250,000 price range is affordable for people entering the market and for investors looking at a property which provides a stable rental return."
A three bedroom house in Mount Gambier has been sold for $225,000.
Built in 1994, the house at<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-128096338" target="_blank"> 4 Winfield Court </a>(pictured below) comes with three bedrooms, lounge room, timber kitchen and private rear yard.
<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/2019/7/9/mount%20gambier%20.jpg" alt="">
"Dwellings over $500,000 are at the top end of the market and have limited market activity," HTW said. 
"Dwellings under $150,000 are generally in less sought-after locations and have limited market activity."
A recent over $500,000 sale was a Character Federation style home nestled on over 2.5 acres of land.
It was sold for $610,000 in May.
Located minutes from Mount Gambier and schools, the house at<a href="https://www.realestate.com.au/sold/property-house-sa-moorak-123887258" target="_blank"> 158 Telford Road</a>, Moorak (pictured below) comes with four bedrooms, study, timber kitchen, and open living areas.
<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/2019/7/9/moorak%201.jpg" alt="">
Detached housing and unit sales throughout the region are on track with previous years and are expected to remain stable throughout the remainder of the year.
Detached housing is the most popular amongst buyers, with 141 house sales for the first quarter of this year, compared to 15 unit sales and 28 land sales.
The report notes that properties located within the Lakes location and centrally around the town centre have shorter listing times than most other areas, as they are tightly held locations.
The median sale price has been slightly increasing over the past five years and property prices have remained stable.
"The overall feel of the market at the moment is that it will remain relatively steady throughout the remainder of the year," the valuation firm said.
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