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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Alloway Bank, the historic NSW Bathurst district estate of the colonial ­customs collector, Captain John Piper, has been sold.
After spending just short of three years on the market, the property fetched $2.15 million, within its steadfast guide of $1,995,000 to $2.4 million.
It was sold by Century 21 Bathurst agent Tom ­Clyburn, who took on the listing earlier this year.
The buyers are a family from Bondi Junction whose forebears, George (pictured) and William Suttor, were the second owners of the Eglinton residence.
The house, rebuilt in the 1870s with Flemish bond brickwork, sits on 11 hectares.
Its European settlement dates back to an 1827 land grant from Governor Thomas Brisbane to Piper who relocated to the farm after losing the Point Piper harbourfront, Henrietta Villa.
After the 1838 drought, the wool slump and 1840s depression, Piper was also forced to sell Alloway Bank to the pastoral Suttor family in 1845. It last sold in 1995 for $580,000.
This article was first published in the Sunday Telegraph. 
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Alloway Bank, Bathurst sells after nearly three years on the market

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Entrepreneur Jordan Grives is selling his Teneriffe apartment.
Grives paid $1.8 million for the three bedroom loft-style apartment just over 12 months ago shortly before selling his previous two bedroom apartment nearby.
Set in the Winchcombe Carson Woolstore, the top level apartment spans 265 square metres and has a built-on library, fully-equipped wet bar, a pool room, rumpus room and a large deck.
Ray White New Farm agents Matt Lancashire and Ben Percival have the listing.
Grives and his partner Amelia and their two Maltese cross poodles Ari and Coco are renting in New Farm.
Grives said they may build something, but will stay in Brisbane. 
Earlier this year Grives sold Fone Dynamics, the messaging and call analytics company he founded, for around $8.4 million.
In 2016 he pocketed $30 million when he sold his Fonebox enterprise to J2 Global, the NASDAQ-listed American internet services business.
This article was first published in the Weekend Australian. 
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Brisbane entrepreneur Jordan Grives to offload designer Teneriffe apartment

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The Townsville housing market has seen fewer homes transacting year-on-year, with 2,976 homes selling over the 12 months to February 2019, according to the latest CoreLogic Regional Report. 
The report reveals challenging property market performance across Australia’s region.
It suggests that the largest annual fall in both house and unit values for Queensland was seen in Townsville.
<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/2019/6/5/townsville%201.jpg" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2019/6/5/townsville%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/2019/6/5/townsville%202.jpg" alt="">
Source: CoreLogic
House values have fallen -4.8% over the year to March, while unit values are down -13.5% over the same period.
<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/2019/6/5/townsville%203.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/townville%204.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/2019/6/5/townville%204.jpg" alt="">
Source: CoreLogic
Looking at the Townsville rental market, advertised rents increased by $10/week for houses and $5/week for units when compared to March 2018.
The average time it takes to sell a house across Townsville has increased by three days, while the average unit is now selling three days faster than February 2018.
Vendor discounting is slightly higher when compared to 12 months ago with the average vendor discount increasing from -9.5% to -9.9% for houses and -9.3% to -9.9% for units.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/townville%205.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/2019/6/5/townville%205.jpg" alt="">
Source: CoreLogic
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Townsville sees Queensland's largest fall in dwelling values: CoreLogic

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Mildura has seen a lower volume of rural sales during the first half of 2019, which is not surprising given the extremely dry start to the year, according to the latest Herron Todd White (HTW) report. 
"However there is evidently still demand for better standard rural assets, and the sales which we have seen suggest values are holding at similar levels to 2018," the valuation firm said. 
A 131-hectare wine grape vineyard located to the north of Mildura recently sold at levels which show an average $32,250 per hectare for the area planted to vines.
The vineyard has a history of good yields and relatively low costs, but also contains a high percentage of Chardonnay, which currently offers lower returns per hectare than most other varieties, HTW said.
"The lower Australian dollar is helping maintain stronger prices for wine grapes and there is a feeling of optimism that returns will continue to improve," the valuation firm said. 
The table grape industry has enjoyed another successful harvest, with fruit quality mostly good and strong export prices.
"We expect to see growers continue to plant new varieties, which will see ongoing demand for the remaining vacant land parcels in the irrigation districts," the valuation firm said.
A corporate buyer recently acquired an 85-hectare aggregation in the Red Cliffs district, planted mostly to table grapes but also with some wine grapes, at a price which equates to around $80,000 per hectare for the better table grape varieties and between $27,000 and $36,000 per hectare for the area planted to wine grapes.
<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/2019/6/5/red%20cliffs%20.jpg" alt="">
A 13 hectare Red Cliffs property (pictured above) recently sold for $272,500. It was advertised as being suitable for table grapes, avocado and citrus.
Located at <a href="https://www.realestate.com.au/sold/property-horticulture-vic-red+cliffs-7983770" target="_blank">297 Stewart Road &amp; 368 Woomera Road</a>, the property has elevated red loam soils, a natural slope and drainage.
It has a three bedroom cottage.
The report noted a much higher cost of leasing irrigation water compared to levels applying up until mid-2018, is expected to see buyers remain cautious about committing to large scale, greenfield developments.
"This position could change if we see a wetter than average winter and spring in the Murray River catchment, however there is increasing commentary around whether the Murray Darling basin can supply additional permanent tree crops.
"It is likely that we will see much less greenfield development over the next few years," says the report. 
Nearly all of the Mallee has been dry sown to cereal crops this season, many of which are just starting to emerge following some rain in early May.
"We would expect to see few sales in the Mallee between now and November, with confidence levels (and bank balances) heavily dependent on how the coming season unfolds." 
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Mildura rural values holding despite lower sales volume: HTW

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Ms Soutsakhorn Chanthabouly (known as Nicole Khammenathy) of Carnes Hill, NSW has been convicted and sentenced after pleading guilty to charges related to illegal phoenix activity.
Ms Chanthabouly was charged with one count of breaching her director duties and another count of destroying company records, following an investigation by ASIC. She was sentenced to a one-year, $500 good behavior bond and ordered to pay $22,000.00 in reparation.
Ms Chanthabouly, a shadow director of MK Asbestos Removal Pty Ltd ACN 142 918 590 (the Company) operated a business of asbestos removal services in New South Wales.
The Court’s handing down of the conviction follows an ASIC investigation which found that on or about 6 February 2014, Ms Chanthabouly transferred $22,000 from the Company bank account to the bank account of Express Asbestos Removals Pty Ltd ACN 167 780 583, a company of which she was director. In doing so, Ms Chanthabouly used her position dishonestly with the intention of gaining an advantage for herself and Express Asbestos Removals Pty Ltd.
The investigation also found that between 3 February 2014 and 19 August 2014, Ms Chanthabouly destroyed the books of the Company.
The Company was subsequently placed into liquidation on 3 February 2014.  At the time, the Company owed $78,153.90 to the Australian Taxation Office (ATO) and $19,807.86 in unpaid premiums for workers compensation insurance. By removing Company funds, Ms Chanthabouly intentionally denied the ATO access to money owed to it.
ASIC commenced an investigation after receiving a funded report from the liquidator of the Company, Robyn Duggan of Ferrier Hodgson. ASIC provided funding to the Liquidator from the <a href="http://asic.gov.au/for-finance-professionals/registered-liquidators/your-ongoing-obligations-as-a-registered-liquidator/assetless-administration-fund/#_blank" target="_blank">Assetless Administration Fund</a>.
Ms Chanthabouly was convicted and sentenced on 16 May 2019. As a result of her conviction, Ms Chanthabouly is automatically disqualified from managing corporations for five years from 16 May 2019.
The Commonwealth Director of Public Prosecutions prosecuted the matter.
<h2>ASIC is a member of the Phoenix Taskforce, which comprises federal, state and territory government agencies who work collectively to combat illegal phoenix activity. The Phoenix Taskforce is a whole-of-government approach to identify, disrupt and prosecute illegal phoenix activity.</h2>
Suspected phoenix activity can be reported to the Phoenix Hotline on 1800 807 875 or online at the ATO website.
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NSW asbestos removals company director convicted after engaging in phoenix activity: ASIC 

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ASIC has permanently banned Perth-based adviser Phillip Emidio Bruni from providing financial services.
This follows an ASIC surveillance of advice provided by Mr Bruni when he was an authorised representative of Westpac and The Financiallink Group.
In the course of the surveillance, ASIC became aware that Mr Bruni had been dishonest and engaged in misleading or deceptive conduct including by retrospectively creating advice documents and reproducing a client’s signature.
ASIC reviewed meta data from Mr Bruni’s advice documents and found that in response to statutory notices, Mr Bruni had created replicas of statements of advice documents that he was required by law to create and retain but had not.
Additionally, Mr Bruni attempted to cover up his failure to obtain a signed ‘authority to proceed’ from a client. He copied and pasted his client’s signature from a ‘fact-find’ document (which outlines a client’s circumstances and needs) without the client’s consent or approval.
Mr Bruni did not tell his licensee or ASIC that the documents produced to ASIC were not copies of original documents. He only admitted to creating the replica documents and the ‘authority to proceed’ when questioned by ASIC.
ASIC’s review also found that Mr Bruni had failed to give appropriate advice or provide advice documents to his clients. He also failed to act in the best interests of his clients or to prioritise their interests.
When providing advice, Mr Bruni did not objectively assess the information provided by his clients or tailor his recommendations to their circumstances. For example, in relation to property investment through an SMSF, Mr Bruni did not make adequate inquiries to assess if an SMSF was indeed appropriate or whether his client could undertake the role of an SMSF trustee. 
Additionally, Mr Bruni could not demonstrate that he had investigated alternative products or strategies that could help his clients achieve their goals. He also failed to provide information to his clients about the costs, benefits and consequences of his recommendations, which would have helped them make better informed decisions.
ASIC Commissioner, Danielle Press said ASIC’s decision reflects its expectation that financial advisers uphold the attributes of honesty and professionalism in their work. 
“Providing false evidence to ASIC under any circumstances is a breach of the law and will not be tolerated. ASIC expects advisers to adhere to the law at all times and meet their obligations of providing appropriate advice that is in the best interests of their clients” Ms Press said.
Mr Bruni’s banning is part of ASIC's Wealth Management Project, which focuses on the conduct of Australia’s largest financial advice licensees – NAB, Westpac, CBA, ANZ, Macquarie and AMP. ASIC was notified of Mr Bruni’s misconduct by Westpac.
As part of its Wealth Management Project, ASIC has banned 55 advisers and one director from the financial services industry. Four bannings are the subject of appeal.
Mr Bruni has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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Perth adviser permanently banned by ASIC after inappropriate SMSF advice

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The RBA rate cut will lure homebuyers into what may be a nightmare journey, the veteran personal finance adviser Noel Whittaker says.
The author of Making Money Made Simple warns FHB against "stretching themselves to achieve the dream of a first home at a time when rates are at historic lows."
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"Eventually, they must start to rise again," he said in a Nine Entertainment column.
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He noted last month the Australian Prudential Regulation Authority instructed lenders to ease up on eligibility criteria. 
</div>
"Relaxing lending standards starts a chain reaction... the number of first-home buyers jumps, the extra demand pushes up house prices and it becomes even harder for young couples to get a foothold into the housing market.
"As prices rise, and affordability worsens, other potential buyers who are saving for a deposit panic, and rush into the market.
<p data-gtm-vis-recent-on-screen-6236702_632="1559705414884" data-gtm-vis-first-on-screen-6236702_632="1559705414884" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">"To make matters worse, before the election the Federal government announced plans to let first-home buyers into the market with just a 5 per cent deposit."
<p data-gtm-vis-recent-on-screen-6236702_632="1559705414884" data-gtm-vis-first-on-screen-6236702_632="1559705414884" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-has-fired-6236702_632="1">Whittaker said the final step in the cycle is interest rates rising, homes being foreclosed and housing prices falling, or at least staying flat.
</div>
<div class="_1lC_G">"The latest interest rate cut puts Australia on a slippery slope.</div>
<div class="_1lC_G"> </div>
<div class="_1lC_G">"With rates at historic lows, a cut from 1.5 per cent to 1.25 per cent will do nothing to stimulate the economy.</div>
"Rates are now so low that any changes can make little difference to the economy," he suggested.
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Noel Whittaker says RBA rate cut will lure FHB homebuyers into nightmare journey

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The Australian economy grew 0.4 per cent in seasonally adjusted chain volume terms in the March quarter 2019, according to figures released by the Australian Bureau of Statistics (ABS) today. 
Ryan Felsman at CommSec said the economy has lost momentum.
"The annual growth rate is the weakest since September 2009.
"Like other advanced economies, output has slowed since mid-2018 as US-China trade tensions weigh on global growth. But domestic demand has also slowed, as evidenced by low inflation.    
"And soft consumer spending is the main culprit.
"Household incomes are being squeezed due to a combination of modest wages growth and increasing taxes paid due to ‘bracket creep’ (where taxpayers are pushed into higher income tax brackets).
"The negative ‘wealth effect’ from the property downturn is encouraging Aussies to deleverage amid elevated household debt, crimping consumption."
Felsman said the Reserve Bank cut interest rates to fresh record lows of 1.25 per cent yesterday and "appears likely to reduce interest rates to at least 1 per cent."
Chief Economist for the ABS, Bruce Hockman, said the economy continues to grow as we head towards twenty eight years of sustained growth. Government spending was the main contributor to growth reflecting ongoing delivery of services in disability, health and aged care.  Household spending slowed and contributed a modest 0.1 per cent to growth reflecting reduced spending on discretionary goods such as furnishing and household equipment, recreation and culture and hotels, cafes and restaurants.  Dwelling investment continued to detract this quarter. The slowing housing market has resulted in significant falls in ownership transfer costs, particularly stamp duty.   “The Australian economy continues to grow but more slowly than our long term average of 3.5 per cent," Hockman said.
Economist Alex Joiner said the Australian economy remains in a per capita GDP recession with the third consecutive quarterly decline in real GDP per capita.
Commentator Callum Pickering noted Australia has to go all the way back to 2009 - the height of the global financial crisis - to see softer growth.
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Economy growing more slowly than 3.5 percent long term average

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McGrath Limited has secured the services of Richard Shalhoub, who has been operating as Sydney Sotheby’s International Realty - CBD and Pyrmont.
It marks a return of the high performing sales agent who was prominent in the Walsh Bay precinct, the home turf of McGrath founder John McGrath.
He returns to the McGrath agency where he previously worked for nine years between 2007 and 2016.
The ASX was advised that McGrath entered into an in agreement to acquire the business and assets, including a rent roll, of a business owned and operated by Shaloub.
The total consideration is expected to be $1.6 million.
It will be settled in cash, with the binding agreement expected to be completed in early July 2019.
McGrath CEO Geoff Lucas said Richard Shaloub's return to McGrath earmarked the importance of the Sydney CBD precinct.
It would complement the company’s presence in a key market that has been serviced by its Eastern Suburbs sales office.
“Richard returning to McGrath is a win-win for us both and is in line with our overall strategy to increase market share in key markets with the recruitment of exceptional agents who have the desire to be part of a well-resourced and well established brand.
“Not only is Richard an outstanding agent with an unparalleled depth of knowledge of Sydney’s CBD and northern CBD residential precincts, he brings with him an intrinsic understanding of the prestige market that has been transformed by the substantial infrastructure, lifestyle and work precincts seen at Barangaroo and Millers Point,”Mr Lucas concluded.
Shalhoub has established himself as one of the CBD’s leading agents over the past 15 years.
He was instrumental in the company first being appointed by Property NSW in 2014 as their exclusive selling agent for the Millers Point program, and involved in the success of the Government selloff.
He left the McGrath in August 2016 to become principal of Sydney Sotheby’s International Realty - CBD and Pyrmont.
“There has been a clear shift in market sentiment and conditions over the past 12 months in the CBD as we have transitioned to a more subdued marketplace," Shaloub said.
"As a result, I feel that to best represent our clients we need to be aligned with a respected and dominant brand with strong referral networks. 
“I believe there will be a growing desire for small agencies to consolidate so they can focus on servicing their clients and grow market share rather than the day to day running of a business.
"We are clearly seeing a transitioning market over the last 12 months – and despite changing market sentiment, there is still plenty of activity in the prestige sector and opportunity in a highly desirable area of Sydney for buyers who are actively seeking luxury residences."
He points to sales including Penthouse 28A, Stamford Residence, 171 Gloucester Street, The Rocks for $13.5 million; 73 Windmill Street (block of 11 apartments) for $10,050,000; 11-13A Dalgety Road Millers Point sold at $5 million; and 5-7 High St Millers Point sold at $5,605,000.
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McGrath McGrath Millers Point | Sydney CBD will be located at 27 Kent Street, Sydney.
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Richard Shalhoub returns to McGrath as agency grows Sydney CBD footprint

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Glenora Farm in NSW's Southern Highlands has sold for $5 million.
Described in the listing as "one of the largest quality rural property holdings presently available" it comprises 280 acres and came with a price guide of $5.95 million.
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Frank Barker and Damien Ogilvy of Raine &amp; Horne marketed the listing.</div>
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The land is approximately 90-95% cleared with timber sections providing shade for cattle &amp; over 15 paddocks with a central herding lane way system and driveways.
It is currently running 170 head &amp; can produce up to 3,500 bales of silage per annum in good seasons, according to the listing.
Currently serving as the dry run &amp; feed/hay/silage producer for the Dairy at Hazel Cottage Farm (240 Acres), which is just 1 km away, Glenora Farm features productive basalt &amp; loam soils.
<img src="https://www.urban.com.au/images/2019/5/30/Glendora%20Farm%202.JPG" alt="">
The homestead, a brick construction with high ceilings was wholly updated in the early 1980's, with the kitchen updated again in 2008.
A three bedroom two bathroom affair, the abode features 2 extra office/study rooms and a slow combustion fireplace.
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