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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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The house price decline continued to slow over the month of May after the surprise Coalition Government win in the middle of the month.
National house prices declined an average of 0.5% in May, driven by a 3.2% decline in Darwin, the only capital city market to reach double digit declines.
Sydney and Melbourne, the nation's two biggest markets, also continued their slowdown.
Sydney's houses declined 0.4%, while Melbourne's dropped 0.6%.
Click here <a href="https://www.propertyobserver.com.au/images/2019/6/3/Capital-markets-May.jpg" target="_blank">to enlarge</a>.
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It's the slowest decline in Sydney since house prices started declining back in September 2017 when there were only 0.3% declines.
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CoreLogic head of research Tim Lawless said the improvement is primarily being driven by a slower rate of decline in Sydney and Melbourne where housing values were previously falling at the fastest rate of any capital city. 
"Sydney (dwelling) values were 0.5% lower over the month while Melbourne (dwelling) values were 0.3% lower; the smallest decline in values across both cities since March last year. 
“In other cities, where housing market conditions have generally been more resilient to a downturn, the trend is opposite.”
Click here <a href="https://www.propertyobserver.com.au/images/2019/6/3/Cap-May2019.jpg" target="_blank">to enlarge</a>.
<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/2019/6/3/Cap-May2019.jpg" alt="">
Sydney's annual dwelling decline now sits at 10.7%, compared to Melbourne 9.9% decline.
It was back to back declines in Hobart where dwelling values dropped 0.4%, bringing their rolling quarterly rate of decline into negative territory for the first time since early 2016.
The slowing declines come on the eve of the next meeting of the RBA where there is wide-spread speculation that the official cash rate is going be cut to a historic low 1.25%.
It has sat at a record low 1.5% since the August 2016 meeting.
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Since the federal election, Tim Lawless said, “we have seen a variety of outcomes and announcements that are likely to have a positive effect on housing market conditions.” 
“The federal election outcome has removed the uncertainty surrounding taxation reform which should see an improved level of confidence amongst home owners and prospective buyers, particularly investors. 
“We now have some certainty around the initiatives announced in the federal budget, a consistent commission structure for mortgage brokers (who comprise around 60% of mortgage originations), and the eventual stimulus for first home buyers in the form of a federal government deposit guarantee, which although limited to 10,000 participants with at least a 5% deposit, will kick off in January next year.” 
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jrobinson-rf4aSBido9

House price decline in May ranks as slowest in a year: CoreLogic

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The Kiwi-born funds manager Charles Gibbon and wife Claire have emerged as the $11.3 million buyer of the Gerringong oceanfront estate of fashion pioneer Robby Ingham.
The Gibbon's are no strangers buying vast land and building having constructed their retreat on six hectares in the nearby Shoalhaven town Bellawongarah.
Ingham and wife Sarah listed it late last year with $10 million hopes through Ray White Gerringong agent Neil Campbell after owning the 40 hectare former dairy farm since 2012.
Despite gaining approval for a 10 bedroom Nick Tobias-designed luxury retreat, the family found an alternative retreat, a nearby riverfront holding.
The 3,000 sqm donut shaped house set to have grass on the rooftop came with estimated $5 million building costs.
This article was first published in the Saturday Daily Telegraph.
 
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j.ballantyne1990-6AQqhLzZaK

Funds manager emerges as buyer of Robby Ingham's Gerringong estate

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The South Sydney Rabbitohs legend Greg Inglis has sold his former Coogee home having pulled it from auction and reduced its price hopes.
Buyers were being told they’d need to offer $2.5 million to <a href="https://www.realestate.com.au/sold/property-house-nsw-coogee-131104790" target="_blank">secure the Federation semi</a> after it was initially listed for auction on June 1 with a guide of $2.8 million.
The home sold within 29 days of its listing, well ahead of the current 50 day Sydney average on market time.
McGrath Coogee agent Marnie Seinor secured the sale but said she couldn’t disclose its sale price.
“It holds a prized corner parcel in a coveted Coogee street, just metres from buzzing cafes, shops and the beach,” she said.
“The immaculately kept Federation semi celebrates relaxed coastal living,” she added.
<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/2019/6/3/INGLIS2.jpg" alt="">
Inglis bought the home in early 2012 having made the moving the prior season from Melbourne where he played for the Storm.
Inglis paid $1.1 million for the Bream St property, when the median price was around $1.4 million.
Coogee, with a current $2.6 million median house price, has seen a compound growth rate of 8.5 percent for houses over the past five years.
It was just a two bedroom, 1910 built Federation, but now still behind a traditional facade, extended to now have four bedrooms and two bathrooms across its three levels.
Since its listing Inglis has struggled with personal issues after retiring earlier this year from rugby league following a stellar 14 year on field career.
The former South Sydney captain has been admitted to a mental health facility to deal with the issues he has been facing.
His close friends Justin Hodges recently encouraged Inglis to get his life back on track for the sake of his young family after seeing “the hurt in his eyes”.
“He’s doing it very tough. Everything hit him at once; his marriage break-up and then his retirement came quickly, quicker than what he expected.”
The 32-year-old, was living at Little Bay, having leased the 1910 Coogee home in recent times.
The Kempsey-born NRL star and his estranged wife Sally, who recently moved back to Queensland, own investment properties including a renovated 1920s workers cottage in Sandgate, northwest of Brisbane, which cost $440,000 in 2014.
 
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firstname1-iYD4UYzvBa

Rabbitoh's legend Greg Inglis sells Coogee home after reducing price guide

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The Meriton apartment developer Harry Triguboff increased his wealth by $770 million in the past year, but still slipped down a spot to be named Australia’s third richest person in 2019.
High-rise Harry was given a $13.54 billion net worth on the nation’s wealthiest 200 in the Financial Review Rich List.
With wealth of $15.57 billion, paper and packaging magnate Anthony Pratt ranks as the nation’s richest, followed by mining magnate Gina Rinehartwith $13.810 billion.
The Shimao property baron Hui Wing Mau came fourth at $10.390 billion and tech whiz Scott Farquhar fifth with $9.75 billion and his Atlassian co-founder Mike Cannon-Brrokes sixth at $9.63 million.
Cannon-Brookes and Farquhar were placed fourth and fifth on The List of Australia’s Richest 250 when it was published by The Australian in late March, with wealth of $9.01 billion each — the bulk of which is from their respective, and equal, Atlassian share holdings.
Property dominated The List — Australia’s Richest 250, contributing 68 members. Combined, the 68 are worth more than $85 billion and are responsible for the biggest housing projects around the country. The AFR Rich List has 63 with their source of wealth put down to property.
Triguboff is the country’s biggest landlord, and has recently built many of his 65,000 apartments to rent them out.
Frank Lowy sits in 7th place on the AFR list with $8.56 billion. The Westfield co-founder Frank Lowy says he now feels “at home” after moving to Israel late last year.
“I feel that I’m home. That’s all. Very simple,” Sir Frank said in an interview with Israel television network Channel 12.
The Times of Israel has reported Sir Frank as having “made Aliyah”, which is the migration of Jews to Israel.
Sir Frank, who was born in 1930 and survived the Holocaust in Hungary, became an Israeli citizen in February.
Sir Frank and his wife Shirley, who battling Alzheimers, are the subject of the documentary What Will Become of Us, which is showing at the Sydney Film Festival next week.
In December 2017, Sir Frank pulled off the biggest deal in Australian corporate history: the $US24.7bn ($32bn) sale of his Westfield retail empire to French company Unibail-Rodamco. 
Property developer Bob Ell, with an estimated worth of $1.84 billion, sits in 44th place.
Leda is behind the lucrative Cobaki Estate development, west of Gold Coast Airport.
The property investor Con Makris and his family are No.69 on the list with a worth of $1.32 billion.
Garry Rothwell at Winten is in 150th place with $656 million.
Jerry Schwartz is No.178 on the Rich List list with a worth of $554 million.
The cosmetic surgeon is Australia’s largest private hotel owner, the son of late Hungarian immigrants Bela and Eve Schwartz, who built up a portfolio of hotels, resorts and pubs across Australia. 
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jchancellor-FAypfDUnLy

Harry Triguboff slips to Australia's 3rd richest billionaire despite boost in wealth

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LandMark White has claimed it is the victim of a saboteur hellbent on destroying the listed valuation firm after it was hit with another data leak.
The company told the ASX that valuation and related commercial documents had been uploaded to international document sharing site SCRIBD.
"Someone is trying to destroy the company," chairman Keith Perrett told Nine Entertainment.
In a statement to the ASX on Thursday night, company secretary John Wise SCRIBD would removed all the documents offline within 24 hours.
"We are investigating this recent disclosure as an immediate priority and have identified that the documents mostly comprise PDF valuation documents and other operationally related commercial documents of LMW," Mr Wise said.
"We also confirm that these documents do not appear to have been taken from LMW through an IT related security breach but may be the deliberate work of an individual known to the LMW business."
Mr Wise said the company would work with law enforcement agencies and the Office of the Australian Information Commissioner. In a letter to clients, LandMark White acting chief executive Tim Rabbit said the leak "may be the work of an individual known to the LMW business".
"We are under attack," he said.
"This not a serious data breach.. it's sabotage and I hope the financial institutions will support a good Australian company that has worked incredibly hard to ensure our security systems are as goods as any in the world."
Earlier this month the property valuation and consultancy firm LandMark White revealed <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">the initial data breach from their servers in February</a> cost the company <a href="/news/landmark-white-data-breach-to-cost-over-7-million">up to $7 million</a>. 
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LandMark White reports more private valuation files posted online

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EXPERT OBSERVER
There is a wide-spread belief that Reserve Bank Governor Lowe’s speech on 21 May clearly indicated that the RBA are set to cut official interest rates on Tuesday 4 June when they next meet.
While I (and the interest rate futures market and the overwhelming majority of economic commentators) believe that is still the most likely outcome, I can see a scenario whereby the RBA once again keeps rates on hold.
People love to tell me that housing isn’t the economy, and they’re right it isn’t however, it is the largest single asset class in the country and thereby pretty important to the health of the economy. Over recent weeks there have been a number of changes that have been overall a positive for the housing market going forward:
There was no change of government at the federal election. Whether you believe that changing the rules around negative gearing and the capital gains tax discount would have a big impact on the market or not, those proposed changes did inject a level of uncertainty into the market.
While the Labor Party was expected by most to win the election, the aftermath of a Coalition win seems to have seen a level of confidence returning to the market.
Dwelling value declines were already slowing but now lenders are reporting much higher levels of mortgage demand and auction clearance rates last week lifted to their highest level nationally since mid-May last year and in Sydney they increased to their highest level since April last year. 
APRA has signalled they are looking to change serviceability calculations on new mortgages.
Ultimately it will mean that some people that previously weren’t able to borrow will be able to and those that could already borrow will potentially be able to borrow more.
Again, these changes aren’t yet live but once implemented, easier access to a housing loan should support a lift in market activity and help to provide a floor under housing prices.
The RBA flagged that interest rates would be reduced. After official interest rates have remained on hold for 33 months, Governor Lowe dropped his biggest hint yet that interest rates will be reduced in June during his speech on the 21 May.
Interest rate cuts put more cash in mortgage holders pockets, if someone is struggling to repay their mortgage they can contact their banks and ask for a reduction in repayments (assuming lenders pass on a cut which is highly likely) and for those that choose not to reduce their repayments they end up paying back more of the loan principal thereby paying down debt quicker.
Furthermore, a lower cash rate typically means lower interest rates on savings accounts, thereby reducing the incentive to save and increasing the incentive to spend.
All three of those items are overall a positive for the housing market. It is important to note that items two and three have not yet happened so anyone now buying could have bought pre-election but chose not to.
To me that indicates a concern around policy changes proposed by the party perceived as most likely to win the election. So with the largest asset class looking more positive why would the RBA choose to cut now? It’s not a cut about housing it is a cut related to economic growth and inflation.
Headline inflation was unchanged over the March quarter and just 1.3% higher over the year.
The RBA’s preferred measure of underlying inflation was 0.2% over the quarter and 1.4% higher over the year, both drifting further away from the 2% to 3% target range. Underlying inflation has been allowed to sit below the target range since December 2015 and hasn’t hit the midpoint (2.5%) since September 2014.
Gross Domestic Product (GDP) or economic growth was recorded as 0.2% over the December 2018 quarter its lowest growth rate since September 2016. On an annual basis, GDP rose 2.3% which was its slowest rate of growth since June 2017.So we have low inflation and sluggish economic growth, which has been the case for some time but both have weakened further in their recent releases.
The RBA has repeatedly stated the main reason for not cutting interest rates is the strength of the labour market however, it has now also weakened. On a seasonally adjusted basis, the unemployment rate in April 2019 was 5.2% having risen for two consecutive months and the highest unemployment rate since August 2018.
Although the unemployment rate has risen, annual jobs growth has increased to 2.6%, its fastest growth rate since June 2018 and the workforce participation rate at 65.8%, the highest it’s been since January 2018.
So while the unemployment rate has weakened, more people are in work or looking for work and job creation has accelerated. We should note that unemployment is typically a lagging indicator and measures of job advertisements are showing slowdown over recent months.
Given all of this, I still believe than an interest rate cut on June 4 is the most likely scenario but I won’t be surprised if the RBA, which has taken a slow and measured approach to cash rate setting of late, is tempted to wait another month.
Waiting another month will allow the RBA to gather more evidence as to whether the housing market is truly improving and it will afford them the luxury of seeing the March quarter GDP figures which are released the day after their board meeting (June 5).
Another weak quarter of economic growth will surely trigger the need for a 25 basis point or even 50 basis point cut to the cash rate in July. Furthermore, by the time of the RBA’s July board meeting there will be another read on the labour force and if there is another monthly increase in the unemployment rate that surely constitutes a trend.
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ckusher-ujnxiKuFQs

What if the RBA doesn't cut rates? Cameron Kusher

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Gurner has secured 95% in sales of its $480 million Saint Moritz development in St Kilda.
There have been sales of 127 residences some 15 months ahead of the projected timeline.
The developer will now bring forward the commencement of construction from the end of 2020, to Q3 this year, with the builder and major construction lender expected to be announced in the coming weeks.
The first two of the three buildings, Pacific House and Azura, are 100 percent sold out.
The third building, Grand Esplanade, which offers absolute-beachfront views over the Esplanade, was quietly launched over the past six weeks, with only six residences remaining.
Gurner and its development partner Greg Shand had planned to retain the remaining six residences but have since decided to release the residences.
<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/2019/5/30/GURN10030_The%20Esplanade_EL03_Skyline%20Building%20C_Marina.jpg" alt="">
These final residences are priced from $3.75million to $14,750,000.
With Grand Esplanade averaging sale prices of over $8 million, Tim Gurner said there had been "huge" numbers of amalgamations of large residences into ultra-luxury penthouses with a number of the sizes well over 500sqm of internal space.
The trend has seen the total number of residences reduced from around 150 initially to 133, and an average price per residence of $4.5 million.
“ We have been totally humbled by the incredible response from the market and cannot express how excited we are to see our vision come to life over the next two years as the project is commenced and completed,” said Tim Gurner.
“ This is a once-in-a-lifetime project for me and the team; we had an ambitious vision for the project to create the world’s best ultra-luxury residential precinct to rival anything around the world and now we get to deliver this amazing dream.
“ Countless advisors told me I was mad to launch a project of this scale when the market was still reeling from negativity. It was hard to block out all the noise but I’m so glad we did because the market has really understood what we are trying to do and not only embraced it but loved it and ensured its success.
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“ By far our best sales advocates have been our own buyers – almost every single buyer referred one or two friends so as word quickly spread, the momentum was phenomenal, where we were signing 5-10 contracts a day at one point.
“I knew there was a market for ultra-luxury residences on an international scale akin to London or New York, but I had no idea just how deep it went when the product is right.
“ Our buyers have been predominantly business identities in their 40s – 60s who lead a truly international lifestyle. They stay in the best hotels, dine in the world’s best restaurants and so naturally expect the world’s best for their home.
“ Until now this discerning demographic had not had any reason to move from their luxury mansions and apartments in Toorak, Albert Park, St Kilda or Brighton, because there was nothing on the market that could offer the lifestyle they were seeking.
“ Perhaps more importantly, there was nowhere that could guarantee an entire building of like-minded owner occupiers, rather than investors. In the end this proved a huge point of difference.
“ The whole experience has been surreal – it’s a time in my life and within the business that I’ll never forget. Now our focus will turn to delivering this masterpiece,” he said.
<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/2019/5/30/GURN10030_The_Esplanade_IN50_BLD%20C_Penthouse_Pool%20%20Terrace.jpg" alt="">
Saint Moritz’s sell-out has been bolstered by an additional $10 million from the sale of the project’s Chairman’s Lounge suites, 20 private business suites priced at approximately $500,000 each, equipped with reception, bar, boardroom and meeting rooms surrounding by 20 bespoke Chairman’s lounges they provide the ultimate discretion for the many wealthy business identities that will soon call the building home.
Saint Moritz has been designed by Fender Katsalidis and Koichi Takada Architects, with interior designer David Hicks crafting the interiors, and Jack Merlo the oasis-style landscapes.
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Just six apartments left as Gurner secures $480 million in sales at Saint Moritz

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The prestige Melbourne home builder Canny Builders has entered voluntary administration.

Builder Damian Canny called in the accounting firm PKF last Friday with the administrators Glenn Franklin and Jason Stone assessing whether the business can be sold.

PKF said it is “already aware of a number of parties interested in the business and the company’s IP.”

The 12 affected owners of home under construction have been contacted, the realestatesource website advised.

Mr Franklin said all efforts will be made to transition these projects as part of a business sale “or facilitate a transfer to builders of the home owners’ choice”.

The Canny Homes division has been building for 25 years with the dwellings typically priced between $1 million to $7 million.

Kip Harding of Red Consulting International, the company accountant, sought the referral to PKF.

Franklin initially met Canny, Harding and the builder's then financial officer Joshua Williams in late February this year.

In March they discussed a turnaround management plan.

The appointment was to Canny Builders Pty Ltd and CWD Holdings Pty Ltd.

In 2013 Canny took out the 2013 Australian HIA Australian Project Home of the Year award for its Lubelso concept home in Malvern.

The two-storey home features three integrated living zones, four bedrooms and an automated trapdoor to the cellar. 
 

<hr>
 

See More: Prestige Melbourne homes available to secure now

[smartcode_project:default project_id=2772]

[smartcode_project:default project_id=89720]

[smartcode_project:default project_id=31283]
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Prestige Melbourne home builder Canny Builders goes into voluntary administration

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Congratulations are in order for the <a href="/developers/osk-property">OSK Property</a>, <a href="/architects/cox-architecture">Cox Architecture</a>, <a href="/architects/carr-design">Carr</a>, T.L.C and Sinclair Brook teams for an impressive double win at the 2019/20 Asia Pacific Property Awards. <a href="/">Apartments.com.au</a> reported on OSK Property’s nominations for their <a href="/buildings/melbourne-square-93-119-kavanagh-street-southbank">latest six-tower development</a> Melbourne Square <a href="/news/osk-property-s-melbourne-square-gains-double-nomination-for-prestigious-international-property-awards">back in March this year</a>, when the project was still in early stages of construction. The team were awarded best ‘Mixed-use Development’ and ‘Residential High-Rise Architecture’ at the ceremony held in Bangkok recently.

The $2.8 billion project was put under the scrutiny of 80 industry professionals, including members of the UK’s House of Lords – Lord Caithness, Lord Best, The Earl of Liverpool and Lord Thurso.

Previous winners of the prestigious awards include London’s iconic Kings Cross Gasworks, the Royal Academy of Music and Heathrow Airport.

<blockquote>
“This award places Melbourne Square among some of the world’s most significant projects that have redefined the bounds of architecture and reinvigorated city precincts. It is a rarity to be recognised for two awards - we are most proud of this achievement and hope that our future occupants share our excitement at these wins.”
</blockquote>

Tan Sri Ong Leong Huat, Chairman of OSK Property

Melbourne Square was selected due to the clever design approach to creating a truly integrated precinct, featuring public spaces available for community use, childcare facilities, hotel, residential, office and retail spaces.

<blockquote>
“Melbourne Square will not only deliver a beautiful addition to Melbourne’s skyline but provide transformative public space that residents and the surrounding community will be able to enjoy as part of the enhanced arts precinct.”
</blockquote>

Tan Sri Ong Leong Huat, Chairman of OSK Property

<div class="rtecenter">RELATED ARTICLES</div>

<div class="rtecenter"><a href="/news/osk-property-pushes-a-living-aspect-not-normally-associated-with-southbank">OSK Property pushes a living aspect not normally associated with Southbank</a></div>

<div class="rtecenter"><a href="/news/q-a-with-osk-propertys-ju-yan">Q &amp; A with OSK Property's Ju Yan</a></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>Melbourne Square’s current status at a glance:</h2>

<ul>
<li>The first stage (1,054 <a href="/new-apartments">off-the-plan</a> apartments) are 75% sold</li>
	<li>19 apartments worth a total $32 million have been combined into 9 ‘super-homes’ as buyers purchase multiple properties within the complex</li>
	<li>New ‘Couture Series’ apartments have been released and will include 3, 4 and 5-bedroom configurations on levels 55 through 68</li>
	<li>Luxury penthouses have been built on levels 67 and 68, with the option to combine them into a 1,200 square metre retreat for a cool $25 million</li>
	<li>Construction on both towers is underway</li>
	<li>
<a href="/builders/multiplex">Multiplex</a> has recently completed level 21 of the core, and level 15 of the slab, as well as extensive glazing on lower levels</li>
	<li>Melbourne Square’s public park is also under construction (due to open late 2019)</li>
</ul>
<h2>APARTMENT DESIGN RENDERS</h2>
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Olivia Round

OSK Property’s double win for Melbourne Square at Asia Pacific Property Awards

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Sir Peter Cosgrove, who will step down as Australia's governor-general next month, and wife Lady Lynne Cosgrove, are downsizing in Sydney's north.
They will vacate the governor-general's official residence, Admiralty House on the Kirribilli waterfront, and will be moving in to a three bedroom apartment in Milsons Point.
Records show they paid $2.25 million for the 15th floor apartment in the Pinnacle building.
The apartment had sat idly on the market for around 50 days through Di Jones agent Nigel Mukhi, prompting the vendor to attempt the lease the investment apartment again at $1,500 a week before the Cosgrove's swooped.
The Pinnacle building was built in the late 1990s on Dind Street.
The Cosgrove's have called the lower north shore home for over a decade, having bought a Neutral Bay townhouse for $1.95 million in 2007.
They sold it for $2.1 million in 2014 given Peter's appointment as governor-general and the luxury of moving in to the 1840s Victorian sandstone Admiralty House.
The property on the tip of Kirribilli was built in 1842 by Lieutenant-Colonel John Gibbes. It was bought by the colonial government in 1885 and renamed Admiralty House.
 
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