The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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A mid-century modernist home at Kingscliff, NSW has recently been sold for $1,275,000. 
It was offered by Mark Humphries from LS Properties Casuarina. 
Located within stage 1 of Salt Village, the house of glass, steel and concrete at <a href="https://www.realestate.com.au/sold/property-house-nsw-kingscliff-127946574" target="_blank">11 Shipstern Street </a>comprises Zen like master suite, two additional bedrooms, living space opening to covered outdoor entertaining area, and minimalist kitchen glowing to the outside. 
<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/2019/6/11/kingscliff%202.jpg" alt="">
The Palm Springs inspired pool area features a Red rainwater tank plunge pool.
Other highlights include eco smart fireplace, bamboo screen in the indoor/outdoor bath area, and solar passive design. 
<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/2019/6/11/kingscliff%203.jpg" alt="">
It is within a 300 metres walk from the beach and only a 200 metre walk across Salts Centre Park to restaurants. 
The modernist home of glass, steel and concrete allows for diverse use of the internal areas and future a second storey options. 
It had last sold at $275,000 in 2013. 
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j.ballantyne1990-6AQqhLzZaK

Kingscliff mid-century modernist house sold 

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Award-winning development <a href="/news/osk-property-s-double-win-for-melbourne-square-at-asia-pacific-property-awards">Melbourne Square</a> has garnered significant popularity thanks to the building’s innovative design, and the ability to accommodate a broad range of buyer requirements. Currently sitting at 75% sold, Melbourne Square has seen a new purchasing trend, with 19 full-sized apartments being converted into 9 “super apartments”.

Multiple families have purchased two or more properties to create semi-detached residences, with many buyers noting that the second property will provide an additional private dwelling for grandparents.

CBRE’s Managing Director of Residential Projects Victoria, Andrew Leoncelli suggested that parents are generally working longer hours to keep up with the soaring cost of living.

<blockquote>
“With parents working longer hours and the high cost of living, creating combination apartments for family makes sense as it shares the cost of the purchase and long-term, the cost of childcare is negated.”
</blockquote>

- CBRE’s Managing Director of Residential Projects Victoria, Andrew Leoncelli

To date, over $78 million worth of real estate has been sold to purchasers who bought more than one apartment.

One buyer in particular purchased six apartments across two floors, to convert into three generous 3-bedroom residences. One will house the buyer and his wife, another will be for his adult daughter and the third for his son and his family.

<blockquote>
“People are applying the hotel concept of adjoining rooms to the residential apartment market and creating semi-detached sky-homes that equally provide privacy and connection to the larger family unit.”
</blockquote>

- CBRE’s Managing Director of Residential Projects Victoria, Andrew Leoncelli

Multi-generational living is on the rise globally, with new design initiatives being taken to produce family-friendly apartments, which cater to a range of ages, family sizes and requirements.

Manisha Patel, a senior partner with British firm PRP Architects, fears that cities could be becoming segregated by age. 

<blockquote>
“Manchester city centre is packed with one- and two-bedroom flats, but I’m not sure you see a huge amount of families when you walk around. This is where intergenerational living comes in. How do you reduce loneliness? We need to mix young and old together.”
</blockquote>

- Manisha Patel, Partner with PRP Architects via <a href="https://www.theguardian.com/society/2019/mar/10/rise-of-multigenerational-family-living">The Guardian</a>

In 2011 the <a href="https://www.bhg.com.au/multigenerational-homes-australia">Australian Bureau of Statistics</a> reported that 531,000 people were living in a shared household – a number which the ABS predict to increase to 781,000 or more by 2036. It will be interesting to see the way new developments cater to a shift in requirements of buyers.

<hr>
<hr>
<h2>First look at Melbourne Square’s super apartments:</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_in03_study_zone_a3rgb.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_in03_study_zone_a3rgb.jpg?itok=RcJKFVca" style="width: 580px; height: 290px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_id02_dining_a3rgb.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_id02_dining_a3rgb.jpg?itok=qi52Gi5l" style="width: 580px; height: 644px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_in06_dining_a3rgb.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_in06_dining_a3rgb.jpg?itok=JpPBBmuj" style="width: 580px; height: 363px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_in05_penthouse_formal_living_a3cmyk.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_in05_penthouse_formal_living_a3cmyk.jpg?itok=5H51QVPi" style="width: 580px; height: 290px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_in04_penthouse_zen_a3rgb.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_in04_penthouse_zen_a3rgb.jpg?itok=o77zQsDD" style="width: 580px; height: 290px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_in02_penthouse_kitchen_a3rgb.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_in02_penthouse_kitchen_a3rgb.jpg?itok=CAyUT6O0" style="width: 580px; height: 322px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/oskh10295_msq_penthouses_id01_detail_a3rgb.jpg" rel="gallery-all" title="Credit: OSK Property"><img alt="Credit: OSK Property" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/oskh10295_msq_penthouses_id01_detail_a3rgb.jpg?itok=ceqPZVkn" style="width: 580px; height: 522px;" title="Credit: OSK Property"></a>

<figcaption>Credit: OSK Property</figcaption></figure> 

<div class="rtecenter">RELATED ARTICLES</div>

<div class="rtecenter"><a href="/news/osk-property-s-double-win-for-melbourne-square-at-asia-pacific-property-awards">OSK Property’s double win for Melbourne Square at Asia Pacific Property Awards</a></div>

<div class="rtecenter"> </div>

<div class="rtecenter"><a href="/news/soil-turns-on-stage-1-of-melbourne-square-as-piling-nears-completion">Soil turns on Stage 1 of Melbourne Square as piling nears completion</a></div>

 

<h2>ABOUT MELBOURNE SQUARE</h2>

Melbourne Square will feature six towers which will comprise of retail, commercial, residential and hospitality tenants. The development offers extensive amenity and parklands, as well as being situated in a central CBD location, acting as the gateway to the arts precinct, within walking distance to the Yarra River and Royal Botanic Gardens.

The 14,700 square metres of public and private amenity includes landscaped gardens, swimming pools, gyms, on-site retail and dining.

<blockquote>
“Melbourne Square’s park will be the largest new architecturally significant park in Melbourne for many years, delivering extensive green space to Southbank for the first time in decades and contributing to the greening of this area underway... The park will anchor what is shaping up to be a thriving and friendly vertical neighbourhood comprising families, young couples and older generations who all see the vision for this area.”
</blockquote>

- Chairman of OSK Property, Tan Sri Ong Leong Huat
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Olivia Round

Multi-generational living: The rise of the "super apartment"

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A 1960s home designed and built by renowned Architect Donald Spencer at The Gap, Queensland has been sold for $875,000.
It was listed by James Monaghan from Ray White The Gap. 
Named by the owners Be-nun-I-kin, which means in Navajo 'House on The Hill', the level style house at<a href="https://www.realestate.com.au/sold/property-house-qld-the+gap-131146914" target="_blank"> 50 Bromar Street</a> is inspired by American architecture.
Situated on an 814 square metre elevated parcel, it comprises master suite with private patio, second bedroom plus home office, light filled open plan living space, and kitchen with Miele appliances.
<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/2019/6/11/the%20gap%202.jpg" alt="">
The low maintenance Japanese inspired gardens include winding paths and water features.
Additional features include floor to ceiling glass sliding doors, solid timber joinery, double carport, brick walls and storage shed. 
<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/2019/6/11/The%20gap%201.jpg" alt="">
The homes position captures views of Mount Coot-Tha through to the Brisbane CBD.
It is located within walking distance to public transport, schools and The Gap Shopping Village.
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1960s Donald Spencer designed trophy home at The Gap sold

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Cricketer Steve O’Keefe has sold both his residential new-build investment properties in Mudgee.
The Manly-based O’Keefe, who has a property portfolio across the country, bought the building-block opportunity in 2013 for $169,000.
He subdivided the 840 square metre corner plot, set south of the town, and built a home on each block.
He got $355,000 for the three-bedroom, two-bathroom home on 402 square metres, which has been a $360-a-week rental. The home next door on 435 square metres fetched $347,000.
McGrath Central Tablelands agent Lucas Sheppard secured the sale for the long-time Sydney Sixer.
O’Keefe, among the top wicket-takers over the summer, has owned a two-bedroom Manly apartment since paying $921,500 off the plan in 2011.
He also has four properties just outside of Brisbane, in Kingston, Marsden, Waverley and Raceview.
His portfolio is at the cheaper end of the market, unlike former Test teammates Steve Smith and David Warner, who have stuck to pricier Sydney.
This article was first published in the Sunday Telegraph.
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firstname1-iYD4UYzvBa

Cricketer Steve O'Keefe sells two Mudgee residential investment properties

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EXPERT OBSERVER
The changes to the WA Bill to better protect subcontractors is a major step in the right direction, but other state and territory governments – along with federal authorities – need to “step up”.
The WA government is a trailblazer in implementing statutory trusts but more needs to be done. 
For over 50 years, no government has acted to deal with the unlawful and unconscionable treatment of subcontractors in the construction industry in Australia.
Around 82 per cent of the construction industry is made up of subcontractors, many of them small and family-owned businesses. But for too long, nobody has bothered about them and they’ve suffered ongoing issues of late payment and high levels of non-payment. It has decimated many small businesses.
Technology will also play a crucial role in helping implement the statutory trust requirements and to provide more access to working capital.
WA’s new Security of Payment Act presents an opportunity to transform the dynamic, but it is not going to be achieved through legislation alone. 
I am looking for strategic partners that share my vision and can add real value to the $350 billion* opportunity in front of me.
We have developed a platform that provides an upfront and continuing finance offer to ensure that no matter what, subbies are not left waiting for payment. 
This solution has been developed in accordance with proposed new trust legislation in WA,” explains Stewart. “It ensures funds are siloed per project and that claims/invoices are linked to payments.
Typically, finance companies don't have access to borrowers’ bank accounts. But ProjectPAY has access to payment data to make informed decisions on future funding and to also assist subcontractors to ensure they are protected under the new laws.
For further information about ProjectPAY, visit <a id="LPlnk774504" class="OWAAutoLink" href="http://www.projectpay.com.au/">projectpay.com.au</a>
Louise Stewart is the former Chair of Subcontractors WA and founder of award-winning payments platform ProjectPAY.
ProjectPAY offers subcontractors the ability to access working capital for a low cost, assists them in managing their contracts more effectively to minimise their risks in accordance with the new legislation and generally facilitates good business practice. 
The platform provides a seamless user experience whereby it allows contracts to be validated with users’ clients, processes claim, and invoices amounts, provides early detection of non-payment risk, and offers a high level of visibility of where money goes out of the ProjectPAY trust accounts.
ProjectPAY immediately flags late payments and will make use of the new subbie support unit set-up by the small business commissioner to assist in reforming the industry. “The platform will also link into new low-cost adjudication services being introduced to WA at the end of the year,” says Stewart.
 
 
 
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jrobinson-rf4aSBido9

WA legislation changes good news for subbies – but more action needed

Queensland budgets hits property owners with higher taxes

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The crowdfunding platform DomaCom have launched their newest financial product, Senior Equity Release.
The Senior Equity Release will provide an adviser accreditation course that will enable financial advisers to provide sign-off to seniors 60 years and over looking for an equity release on their home.
DomaCom CEO Arthur Naoumidis said Senior Equity Release is the first financial product in this space.
"It will give financial advisers a significant place at the table in a growing and vulnerable sector that in many cases is asset rich and cash poor. 
"Hence accreditation is crucial and the first group of advisers will be going through that over the next few days”. 
The announcement comes six and a half years after DomaCom sought to get the necessary reliefs from ASIC, who have substantially reviewed the product.
Senior Equity Release enables advisers to engage and connect senior aged clients with wealth accumulation clients such as SMSFs as both have a similar time horizon in terms of their respective needs.
Seniors can apply to sell a fraction of their home and must nominate the amount they wish to receive and how they wish to receive it, either as a lump sum or a regular monthly payment.
"The obvious investors for many would be family and friends who take an equity position in the property, perhaps using their super to do so," Mr Naoumidis said.
"For investors the benefits are also obvious. 
"They can choose properties in locations that interest them. 
"They can limit investment in residential property in accordance with their asset allocation and they can spread their investment across multiple properties in different jurisdictions to increase diversification."
 
The monthly payment is a staggered settlement of the equity release and has the flexibility to be dialled up or down to give the senior access to additional funds as may be required.
Investors in a senior equity release receive monthly rental income of 3% net of all fees and “own” a share of the capital value through units in a segregated sub-fund of DomaCom.
When the property is sold in full the vendor and investors receive their share of the sale price. This may occur when the vendor passes away or if they decide to move.
Investors also have the option to sell their units via DomaCom’s online liquidity facility which operates in a similar manner to an equities page with market depth and buy/sell order screens.
The company says the benefits to seniors and investors are quite compelling. 
Seniors can unlock equity and stay in place for as long as they like and can rent out the property and retain the rent. 
It is suggested that this may present a good opportunity to trial retirement village living before they sell.
Maintenance, repairs and building insurance is shared by the vendor and the investors.
One of the biggest advantages to DomaCom’s SER is there are no postcode restrictions on the property.
DomaCom currently have a <a href="/news">crowdfunding opportunity</a> at Sapphire Wind Farm, the largest wind farm in New South Wales.
To read more about DomaCom <a href="https://domacom.com.au/" target="_blank">click here</a>.
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DomaCom launch home equity release product for seniors

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US-based Nashville star Clare Bowen has found a buyer for her riverfront Minnamurra home.
The $1,977,500 sale, by Ray White Kiama agent Gail Connellan, came two weeks after the home was pulled from auction.
Securing the property became a race between a local and a Queensland-based buyer.
A recent $1.9 million sale on the riverfront strip had given potential buyers something of a price comparison.
Bowen spent $870,000 on the five-bedroom 1980s family home in 2013.
Her interior designer mother, Kathleen, who runs Kiama’s The Inside Story Design Concepts, renovated the home, which is set on the water and also has three bathrooms on its 555 square metre parcel.
“I’d keep it if I was here more,” Bowen, who spends most of her time in the US or travelling with folk musician husband Brandon Robert Young, said.
“Brandon and I are fortunate to travel quite a bit but it means we are away a lot.
“There is no where else like it in the world.
“It’s where I sat and dreamt my dreams and got brave enough to follow them.”
Bowen has been in Australia filming, alongside Bryan Brown, the SBS four-part series Hungry Ghosts, which explores three generations of Vietnamese Australian families, all haunted by war.
This article was first published in the Saturday Daily Telegraph. 
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Nashville star Clare Bowen sells South Coast family home

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Nova FM breakfast radio star Michael “Wippa” Wipfli and wife Lisa pulled their Queens Park home from its recent auction.
The decision came despite advisory to buyers that price expectations had dropped $200,000.
They initially sought $2.5 million for the four-bedroom Rawson Avenue home, but the price was amended to $2.3 million.
The Federation semi cost the couple $1.87 million in 2014.
Estate agent Nick Quigley has the listing for Wipfli, who sold in Melbourne in 2016.
His Armadale home fetched $1,825,000, up from the $1.48 million he paid in 2010.
The family are considering a move closer to schools for their children, Theodore and Jack.
The sales slowdown shows up in the latest advisory from the Phillips Pantzer Donnelley agency, which has sold 195 properties so far in 2019, compared to 232 this time last year.
It has 67 properties on the market, compared to 69 properties this time last year.
This article was first published in the Sunday Telegraph. 
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Nova's Wippa pulls Queens Park home from auction - even after $200,000 price slash

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Penny and Brad Scott, the former head AFL coach at North Melbourne, emerged as buyers in Kooyong last month.

The solid brick home was bought in Penelope's name for $3,031,000 last August on delayed settlement terms through the Marshall White agency.

The five bedroom home, with two family areas, a formal dining room, a study and three bathrooms, had been listed with $2.8 million to $3.08 million price guidance.

The home, that sits in 680 square metres of gardens, is getting a $100,000 renovation ahead of their relocation, the Margin Call column recently noted. 

They'll be upgrading from Malvern where they've owned a three bedroom townhouse for the last seven years.

They paid $2,175,000 for the then near new home that had traded new at $2.15 million seven months earlier.

This article was first published in the Weekend Australian.

<hr>
 

See More: New luxury properties in Melbourne on the market now

[smartcode_project:default project_id=95292]

[smartcode_project:default project_id=4807]
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