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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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A Flemington milkbar, known in a previous life as the Macca’s Milk Bar, is set to go under the hammer June 15. 
Held for the last 30 years, 31 Dover Street, in Melbourne's north west is up for auction with a price guide of $800,000 to $880,000.
Set on 183 sqm, the one story home features the original facade.
The vendors say the property dates back to 1894 and had been a grocery store.
It was also once famous for its annual football tipping competition, however it stopped operating as a business in 1999. 
Jerome Feery and Simon Mason of Jellis Craig are marketing the property.
The shopfront facade has been preserved while the interior was reconfigured into a private three bedroom two bathroom residence in 2000.
Featuring a large kitchen and leafy courtyard, records show it last sold for $107,000 in May 1988.
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Flemington milkbar home listed for auction

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Billionaire James Packer finally cashed out of his personal property holdings in Sydney when his last property, a Woollahra trophy home, recently settled at $8,375,000.
The six-bedroom home sold on extended settlements terms last November through Ray White agent Elliott Placks to mystery bidders represented by buyers’ agent, Janne Sutcliffe, from Change of Address.
They were the Henley Homes tycoon Rob Bowen and Skye Holden, the Sydney socialite.
Financing was not the reason behind the extended terms because the purchase came without any registered mortgage. 
The home purchase looks similar in design to her family's former Point Piper residence.
<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/2018/11/9/Rose2.jpg" alt="">
It was part of a family compound amalgamated by the late media tycoon Kerry Packer, who bought on Rosemont Avenue in 1965 for £36,000.
The sale ends Packer’s real estate ties with his hometown, barring the upcoming $60 million off-the-plan purchase in his Barangaroo casino high-rise block.
<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/2018/11/9/Rose3.jpg" alt="">
He sold his Bondi Beach pad for $29 million last year and La Mer in Vaucluse for $70 million in 2015. 
This article was first published in the Sunday Telegraph.
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James Packer cashes out of Sydney with Rosemont Avenue, Woollahra sale

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The Northcote-based former ALP politician turned private citizen David Feeney and his lawyer wife Liberty Sangar have sold their East Melbourne investment apartment for $3.9 million.
They had been asking $4 million to $4.4 million for the apartment in the 150 Clarendon block when it was listed back in February.
It has a 25 metre entertainers terrace with views across Fitzroy Gardens.
They paid $2,875,000 in 2007, a year before Feeney was elected Labor member for Batman in Melbourne's north.
In 2016 Feeney was caught in a controversy over his declaration of his property interests, which briefly morphed into a political attack over Labor's negative gearing policy.
Fennel, a fellow at the Australian Strategic Policy Institute think tank, studying a PhD at university.
The Clarendon Street block's sub-penthouse was listed this week with $46 million hopes.
This article was first published in the Weekend Australian.
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David Feeney and Liberty Sangar secure 150 Clarendon, East Melbourne apartment sale

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Former Socceroo legend Stan Lazaridis is selling his longtime Perth home.
The left winger bought the City Beach property in 1997 when he was playing for West Ham in London.
He joined Perth Glory from Birmingham in 2006, the same year he knocked down the old 1970s home and built a home which is being marketed as influenced by Versace's mansion.
Past its grand entry foyer with piano, the custom-designed home on 900 square metres has five bedrooms, four bathrooms, a cinema and a games room.
An alfresco entertaining space overlooks the swimming pool, spa and bar.
Ray White Dalkeith Claremont agents Vivien Yap and Phoebe Shi have the listing.
Lazaridis was capped 60 times for the Socceroos. He took to the property game after retiring in 2008.
This article was first published in the Weekend Australian. 
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Former Socceroo star Stan Lazaridis lists Perth home

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The rural property market in the Central West of New South Wales continues to maintain reasonable levels of interest, according to the latest Herron Todd White (HTW) rural report.
Listings have been somewhat subdued for 2019 due mostly to the drought and sub-optimal presentation factor, the valuation firm said.
However, the report notes any properties that have been marketed realistically have been selling with the appetite to purchase still strong.
"A very active rural agent indicated recently that sales are still relatively strong on the back of limited listings," said the report.
"They indicated that 12 months ago there might have been ten to 12 interested parties in a listing, now that number is five or six.
"This validates that the market is still active and orderly marketed and well-priced properties are moving at satisfactory rates."
The Western Division of the state in the more marginal area’s sales have definitely slowed, with very limited transactions occurring. The drought has a very big hold on a large area and paddock feed stocks are all but exhausted. Stock have been sold down and that will continue as no one is confident of a break in the season.
"Even goats are struggling for feed especially tagged animals behind wire. We recently valued a medium sized station in far west New South Wales with full goat fencing and saw only four kangaroos on a one- hour driving inspection and they were under trees near water points and weak,
"While these drought conditions continue there will be limited offerings of property in the western areas of New South Wales. Our observations and discussions with agents indicate that when the season breaks properly there will be numerous offerings of property and plenty of choice for purchasers. This would normally facilitate a flattening of rates and we expect that will happen.
"Overall, so far the drought has had some slowing of transactions and little effect on values and overall interest in rural property, however we are now in March and the early fodder crops and canola planting is not happening. Major rain events need to occur in the very short-term as no one can afford another tough winter with no crop or pasture growing rainfall events."
The major factor now and until there is a break in the season is cash flow and the confidence to service debt.
<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/2019/4/26/bathurst%202.jpg" alt="">
Asherton, a 103 acre rural property in Central West of New South Wales is on the market with a price guide over $1.2 million (pictured above).
Located at <a href="https://www.realestate.com.au/property-other-nsw-bathurst-700030790" target="_blank">75 Ridge Road O'Connell Via, Bathurst</a>, the soft rolling open grazing has been fenced into 7 internal paddocks and a central laneway.
Each paddock has a concrete water trough which is supplied from a solar equipped bore and header tank.
The freshly renovated homestead comes with five bedrooms, open plan kitchen, dining and lounge room, large family room and low maintenance garden. 
<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/2019/4/26/orange%20.jpg" alt="">
A vineyard situated in the West of Orange has recently been sold for $1.2 million (pictured above).
At an altitude of 800 metres, the property at Lot 19 Bradleys Road, Orange sits on 50 fertile acres of volcanic soil, 32 of which are carrying well-established vines, of mostly red varieties.
The property is favoured with a reliable and plentiful irrigation bore supported by a 40-meg licence allowing for the expansion of multiple agricultural development.
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Central and Western NSW rural market maintains reasonable levels of interest: HTW

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In a bid to green our cities, the Australian Institute of Landscape Architects (AILA) has proposed a 2019 Living Infrastructure Strategy and call for the support of the federal government and councils to build healthier, more sustainable communities.

Urban.com.au had a chat to AILA’S director Claire Martin and Australian National University Research Fellow Dr Andrew MacKenzie about the initiative – who explained how new infrastructure regulation could futureproof our cities from the impending effect of global warming, overpopulation, health complications and more.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1_10.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="247" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1_10.jpg?itok=uxIfsTFm" width="580"></a></figure>Urban.com.au: Which key features of a Living Infrastructure Strategy do you believe would be most pertinent to action immediately and why?

Claire Martin: Many of the Australian Institute of Landscape Architect’s recommendations and strategic priorities are reflected in the Building Up and Moving Out report that captures the findings of the House of Representatives Inquiry into the Australian Government’s role in the development of cities. The report provides a wealth of insights into how we can achieve better outcomes for Australians and Australians cities. The inquiry was bolstered by the high level of multi-partisan support of the members involved, demonstrating that good urban policy is a priority across the political parties. The federal government has an opportunity to provide leadership through Infrastructure Australia to bring together key stakeholders, state and local governments, industry bodies and community representatives to develop a National Living Infrastructure Strategy to secure the future of our settlement and societies.

Urban.com.au: Are there many differences between the Green Infrastructure Strategy (2018) and a Living Infrastructure Strategy (2019)?

Claire Martin: The<a href="http://www.aila.org.au/imis_prod/documents/2019%20Federal%20Election%20Platform_v1.pdf" target="_blank"> 2019 Greener, Liveable &amp; Healthier Cities </a>strategy is our federal election platform that embeds and advances previous strategies. The Australian Institute of Landscape Architect (AILA) is a members of the Australian Sustainable Built Environment Council’s Cities and Infrastructure Task Group our strategy is aligned with ASBEC’s 2019 Thriving Cities policy platform.

Urban.com.au: What is the funding share between ‘grey infrastructure’ and ‘green infrastructure’ currently?

Claire Martin: Whilst federal government expenditure is clearly defined there has been less clarity on green or living infrastructure expenditure both in terms of up-front costs, life-cycle costs as well as the valuation of ecosystems services benefits and contributions.  That’s why AILA supports is lobbying for multi-partisan support for the creation of a National Living Infrastructure Fund for an investment fund that would be established for the implementation of green infrastructure projects across Australia for allocation to state and local government green infrastructure projects. This fund could be operated similar to the Clean Energy Finance Corporation, which seeks to leverage private sector funding to enhance public benefit outcomes through government investment.

Urban.com.au: Which government parties/candidates are currently on board with your mission to create healthier cities? 

Claire Martin: Infrastructure Australia’s Creating Places for People — an urban design protocol for Australian cities is the result of two years of collaboration between peak community and industry organisations and governments at all levels. It represents a commitment to best practice urban design and quality living spaces in Australia. AILA recommends re-endorsing the Protocol and providing federal funding for the purposes of maintaining and promoting the principles outlined in the protocol. AILA is a member of the Parliamentary Friendship Group for Better Cities, established in 2014, is co-convened from the Government, Opposition and Cross Benches. The three co-conveners of the Parliamentary Friendship Group for Better Cities are Mr Trent Zimmerman MP, Member for North Sydney, Mr Andrew Giles MP, Member for Scullin and Senator Jordan Steele-John, Senator for Western Australia. The Parliamentary Friendship Group for Better Cities seeks to work together to make Australia’s capital and major cities more liveable, more resilient and more productive.

Urban.com.au: What impact are issues surrounding city density, congestion and increased population having on Australia and what could be some ways to mitigate negative long-term effects?

Claire Martin: There are significant environmental and health effects of poor planning of Australian cities including: more than 3,000 premature deaths in Australia every year are related to urban air pollution, loss of biodiversity, nutrient loads make their way into waterways and can cause algal blooms and negative environmental effects, a reduction in wellbeing and workplace wellbeing and productivity, increased loneliness and social exclusion, escalating obesity, diabetes and skin cancer, and reduced fitness particularly in young children, social exclusion and the increasing importance of positive mental health.

Much of this can change through planning and design with a shift to multi-centred Australian cities that are more localised with active living that could potentially remove tens of thousands of cars from our road and avoid further unnecessary spending on road infrastructure that locks cities into car dependency and increasing economic inequity. And through the introduction of living infrastructure which increases biodiversity, providing urban corridors for native wildlife, encouraging bird life and pollination; urban forests and greening support management of stormwater run-off and improve water quality, adding natural green elements to the built environment reduces air pollution and improves air quality, spending time in nature provides rehabilitative and recuperative benefits to those suffering mental illness, exercising in parks benefits adult’s relaxation and stress management and improves capacity to disconnect, time spent outdoors is linked to increased work productivity and creativity, structured activity in local parks is a motivator for older adults to visit and connect and adolescents who spend time in nature have a greater sense of calm and focus during study.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/centennial.jpeg" rel="gallery-all" title="Centenary Lakes Nature Play in Cairns"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/centennial.jpeg?itok=bIKwiGDo" title="Centenary Lakes Nature Play in Cairns" width="580"></a>

<figcaption>Centenary Lakes Nature Play in Cairns</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2_7.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="247" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/2_7.jpg?itok=H5vNG5VI" width="580"></a></figure>Urban.com.au: Which country do you believe already has a similar environmental strategy in place and one which Australia could look towards? 

Dr Andrew MacKenzie: Singapore is a leader in policy approaches to green infrastructure - since independence, they have committed to greening the city through tree planting and more recently enhancing the biodiversity has been very successful. London has also made significant progress towards a metropolitan-wide GI strategy but are yet to be implemented.

Urban.com.au: What are some stand out examples of ways landscape design regenerates life into a space where infrastructure dominates the land?

Dr Andrew MacKenzie: Perhaps the best example is the bicentennial and Sydney Olympic parklands. Homebush Bay was once one of the most polluted waterways in the world now home to extraordinary biodiversity including the green and golden bell frog.

Urban.com.au: What does a healthy and more liveable city look like to you?

Dr Andrew MacKenzie: How long is a piece of string! A happy co-existence between the community and the urban environment where the benefits afforded from green infrastructure benefits everyone in some way from great parks and reserves to well-treed streets.

Urban.com.au: Which government parties/candidates are currently on board with your mission to create healthier cities?

Dr Andrew MacKenzie: The ALP has traditionally committed to supporting urban development going back to Chifley in the post-war era. The Liberals tend to leave it to the states and the private sector.

Urban.com.au: What impact are issues surrounding city density, congestion and increased population having on Australia and what could be some ways to mitigate negative long-term effects?

Dr Andrew MacKenzie: Essentially, current trends in compact city growth is squeezing out high quality accessible open spaces and reducing our green cover increasing risks associated with urban heat island effect (heat stress-related illness etc).

Additional information from <a href="http://www.202020vision.com.au/" target="_blank">202020 Vision</a> advocate and Griffith University urban and environmental planner, Dr Tony Matthews: ‘Extreme heat disproportionately affects built-up metropolitan areas. This is largely due to impervious surfaces and a lack of urban vegetation (street trees, green spaces) absorbing more heat than surrounding rural areas, which radiate it back into the air in an oven-like effect, causing ‘urban heat island effect’. The effects are wide-ranging, resulting in an increase to energy costs, air pollution, greenhouse gas emissions, water quality, heat-related illness and mortality in these areas.[1]

Increasing the prevalence of green spaces through the installation of street trees, city parks and rooftop gardens has consistently demonstrated a reduction in the urban heat island effect, where larger urban forests can also create a pool of cooler air and spread it to nearby neighbourhoods by enhancing local wind patterns. We just need to see more action and momentum for the widespread uptake of these tried and tested strategies.

Urban.com.au: Due to the fact that half of Australia’s nationally threatened animal species occur in areas planned for urban development, what are some strategies that could be implemented to ensure Australia's native species are protected? Does this mean developments need to be relocated or are there ways to design these new spaces to accommodate the native species that already inhabit those areas?

Dr Andrew MacKenzie: Nature is declining globally at rates unprecedented in human history – and the rate of species extinction is accelerating, with grave impacts on people around the world now likely, warns a <a href="https://www.ipbes.net/news/ipbes-global-assessment-preview" target="_blank">landmark new report from the UN.</a> Cities have a critical part to play in saving our endangered from extinction.

Adopting a biodiversity evaluation approach to urban development where significant habitat is either protected or created (novel ecologies) is adopted. This could include improving the connectivity of green patches and improving our community appreciation of local ecological communities.

It means working with nature in our cities, both with government and the community. It’s not enough to have big grassy parks and trees as token gestures of ‘nature’, we need to reflect in urban environments what we actually see in nature. Urbanisation is a threat to biodiversity but there’s much we can do to minimise it, through biodiversity evaluation and habitat protection.

[1] Green City,<a href="http://thegreencity.com/the-causes-and-effects-of-the-urban-heat-island-effect/" target="_blank"> http://thegreencity.com/the-causes-and-effects-of-the-urban-heat-island-effect/</a>

Lead image: Darebin Yarra Trail Link by Vic Roads Urban and Structural Design Teams 

 

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Olivia Round

Future focus: Australian Institute of Landscape Architects call for new Living Infrastructure Strategy

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Christopher Pyne and his wife Carolyn, who are heading to the Adelaide Hills given his retirement from Federal Parliament, have had a $1.1 million quick offer on their Adelaide home.
The Wattle Park home has been the family home for nine years. 
They had been seeking $1 million to $1.1 million offers for the 1970s property listed through Klemich Real Estate.
The couple have about an acre in the Hills, plus an old town cottage at Robe, the fishing port located in the Limestone Coast of South Australia, which was bought in early 2016 for $520,000.
Two of the five bedrooms were added by the Pynes after their $800,000 purchase in 2010.
Pyne has drawn the curtain on a 26 year political career.
He was still living at home in Burnside on gaining his pre-selection in 1992.
This article was first published in the Weekend Australian. 
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Retired politician Chris Pyne sells Adelaide home

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Professional surfer Owen Wright has emerged as the mystery buyer of luxury beach villa building opportunity within the heart of Byron Bay.
It sits just under 300 metres from Clarke’s Beach.
The $5.1 million outlay was the fourth highest sale in the Byron Bay township over the year.
The Rip Curl ambassador bought the Daniels Street property on delayed settlement terms late last year.
Wright, a Culburra Beach-born South Coaster, is yet to lodge plans for any redevelopment, but a villa project seems likely.
Currently on the 1605 square meter site sits an elevated three-bedroom timber beach house built in the mid 1970s, with few ­updates, if any, since its construction.
It only occupies 175 square metres of its land holding.
The surf-enthusiast moved north to Lennox Head a decade ago when he was in his late teens.
Sister Tyler is also on the pro-circuit and is a two-time world champion surfer.
Owen has since become one of the country’s leading surfers. He nearly won a world title after two perfect 10-point rides to win an event in Fiji in 2015.
Days before the final event at Pipeline Masters even in Hawaii, Wright suffered a traumatic brain ­injury during a warm-up session.
During his recuperation from the career-threatening injury, Wright spent $765,000 on Ahimsa, a Berry district retreat.
He used the private one bedroom Brogers Creek home on 2.4ha as his refuge, calling it “a little slice of ­heaven”.
Having fully recovered, Wright recently sold the property for $1 million.
Wright, his partner, singer Kita Alexander, and their son currently own at Byron in a home bought in 2010 for $975,000.
The 1930s Federation home was architecturally ­­re-designed by Running Dog Design.
Alexander has just released a new single ‘Between You &amp; I’.
The Byron Bay native penned the indie-pop jam about experiencing the hardest kind of love.
“One that is so strong, it almost breaks you,” said Alexander.
“I wanted this to be a hopeful ­anthem in the face of adversity.”
Byron Bay’s residential house price record was quietly set earlier this year when F45 gym boss Adam Gilchrist and Eli-May Havas spent $18.85 million on Wategos House, the longtime record holder of Vaucluse developer Danny Goldberg who paid $15.68 million in 2006.
Gilchrist and Havas are no ­strangers to the area, having ­married at the exclusive Rae’s across the road.
This article was first published in the Sunday Telegraph.
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Surfer Owen Wright emerges as mystery $5.1 million Byron buyer

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Following spells at both LJ Hooker and Cobden &amp; Hayson, Brigitte Blackman has returned to property group BresicWhitney after six years away, alongside Amber Riethmuller.
Blackman (pictured) works in the inner Sydney market, with a 20-year career.
“In a changing market it’s good to have the right people on your team,” Blackman says.
“It’s inspiring to know you can come back into an office with renewed energy, working with Ivan Bresic, Shannan Whitney and sales leaders I’ve known for so many years.”
Over the same period, BresicWhitney has evolved with locations across Darlinghurst, Balmain, Glebe, Hunters Hill and Rosebery.
BresicWhitney has ranked in the top 20 Great Places to Work.
Co-founder and director Shannan Whitney said Blackman would work across city fringe locations in the east and west.
BresicWhitney’s recently announced three new directors joining the existing shareholding group of Ivan Bresic, Shannan Whitney, William Phillips and Adrian Oddi.
The incoming directors include sales agents Andrew Liddell and Maclay Longhurst, as well as a non-transactional member of the senior leadership group, Will Gosse.
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jonathanchancellor-7SQnKwU6yx

Inner Sydney estate agent Brigitte Blackman rejoins BresicWhitney

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EXPERT OBSERVER
The negatives weighing on Australian residential property prices remain significant but the past few weeks have seen a number of developments that suggest that prices could bottom earlier and higher than we have been expecting.
The election outcome removed a key threat, but several other factors also help. 
The biggest home price fall in the last 40 years
According to CoreLogic data, capital city dwelling prices are down 9.7% from their September 2017 high, which is their worst decline in the last 40 years.
Of course, there is a huge range here with prices down from their top by 15% in Sydney, 11% in Melbourne, 28% in Darwin, 18% in Perth, 2% in Brisbane, less than 1% in Adelaide and at record highs in Canberra &amp; Hobart
Drags on house prices remain significant…
The decline in prices reflects a range of factors, most notably, a “correction” to the huge surge in prices into 2017 in Sydney and Melbourne that left prices very overvalued relative to income, rents and their long-term trend and affordability very poor and household debt very high. 
The end of the mining investment boom impacting prices in Perth and Darwin since their peak in 2014. 
 <img src="https://www.urban.com.au/images/2019/5/23/shallow%201.JPG" alt="">
A tightening in lending standards that initially cracked down on lending to investors but since 2017 moved on to interest only loans and then a more fundamental focus around credit quality which made it harder to get loans. 
A surge in the supply of units to record levels which has led to rising rental vacancy rates in Sydney. 
An 80% collapse in foreign demand. 
A big pool of interest only borrowers switching to principal and interest loans driving higher debt servicing costs. 
Price falls feeding on themselves – just as the boom in prices was accentuated by a fear of missing out (FOMO), falling prices are driving falling price expectations &amp; leading to reduced demand and FONGO (fear of not getting out). 
Investors started to factor in some probability that Labor would win the election which would have meant that negative gearing would be restricted and the capital gains tax discount halved – with estimates that this could have knocked another 5-10% from property prices.
The negatives weighing on the housing market remain significant. In particular, credit conditions are still tight with housing finance still falling with a brief bounce in February giving rise to further falls in March and the start-up of Comprehensive Credit Reporting which will see banks crack down on borrowers with multiple undeclared loans. And the pipeline of units to hit the Sydney and Melbourne markets is still huge as reflected in a still high crane count.
<img src="https://www.urban.com.au/images/2019/5/23/Shallow%202.JPG" alt="">
Meanwhile, auction clearance rates in Sydney and Melbourne have risen from their December lows but this looks largely seasonal with clearances still weak at pre-boom levels just above 50% as are sales volumes.
What’s more the number of capital cities seeing monthly price falls has gone from three out of eight a year ago to now seven out of eight. Given all these considerations we have been reluctant to read too much into the slowing in downwards momentum in monthly property price falls in recent months, particularly given that Perth and Darwin have seen several phases where price declines slowed then sped up again during their five-year slump. And Australian housing still remains expensive.
Real house prices have fallen from 27% above their long-term trend to 7% above now, but housing is still expensive compared to incomes and rents. Sydney home prices may have fallen 15% from their 2017 high but this was after a 75% gain since 2012 when wages rose just 14%. And household debt remains very high.
…but some positives are starting to creep in
However, while the drags remain significant several positives have become apparent over the last few weeks. First, financial support for first home buyers is now on the way with the Government’s First Home Loan Deposit (underwriting) Scheme.
On its own it’s not a game changer particularly given that it’s capped in terms of numbers, the borrowers will be taking on bigmortgages, which will come with a higher risk of negative equity, borrowers will still have to meet the tougher credit standards of recent times and it won’t kick in until next year.
That said, with the Federal budget looking even healthier and probably already in surplus thanks to the surging iron ore price, I suspect that the deposit scheme will morph into a far more attractive home buyer grant at some point. Second, APRA is looking to relax the 7% mortgage rate serviceability buffer.
This was inevitable given APRA’s move to focus on more fundamental credit standards and 7% is way out of whack with current interest rates. Again, on its own it’s not a game changer - it wasn’t the main driver of the property downturn and borrowers still have to meet tougher credit standards. And don’t forget that relaxation of the 10% cap on growth in investor loans and the 30% limit on interest only loans last year had little impact. But it may help at the margin.
Third, RBA Governor Lowe has all but confirmed that rate cuts are on the way with his comment that “at our meeting in two weeks’ time, we will consider the case for lower interest rates” after observing that it needs lower unemployment to get inflation back to target.
We expect 0.25% rate cuts in June and August and that the bulk of these will be passed on to borrowers given the recent reduction in bank funding costs. This would be a bit earlier than the August and November rate cuts we were assuming back in January when we last reviewed our house price forecasts.
House prices bottomed around three months after the first cuts in 2008 and 2011. It may take longer this time as debt is now much higher, rates are already very low and lending standards are tougher. But they will still help. Finally, the threat of changes to negative gearing and CGT is gone with Labor’s defeat.
So a big negative for property is gone. Given the difficulty in predicting the election our house price forecasts had allowed for a 50% probability (ie 50/50 Labor would win) of an 8% additional drag on prices in Sydney and Melbourne from this, ie 4%. In other cities it was a bit less. Now it’s zero and we need to remove this from our forecasts.
It’s also worth noting that we have not seen much evidence of panic selling or forced selling by the banks despite rising (but still low) levels of negative equity. Mortgage delinquency rates remain relatively low – even in Perth where prices have fallen 18% and unemployment has spiked.
<img src="https://www.urban.com.au/images/2019/5/23/shallow%203.JPG" alt="">
Meanwhile, strong population growth of around 1.6% pa is still driving strong underlying demand for housing at a time when supply is likely to start slowing again next year (given falling building approvals). And vacancy rates while very high in Darwin and above trend and rising in Sydney are actually benign to low in most capital cities and have collapsed in Perth.
So taking all these things together – some of which are minor but are still positive – it’s likely that we are going to see house prices bottom out a bit earlier and higher than we had expected.
What about the risk of higher unemployment?
The main risk is that Australia slides into a downwards spiral as the housing downturn - maybe in concert with a global slump - triggers a surge in unemployment which triggers rising defaults and a further plunge in house prices ultimately causing 30% plus falls in national property prices.
This is still a risk, but we remain of the view that it will be avoided. The housing cycle downturn will lead to the loss of around 60,000 jobs on our estimates. But there are a number of other things that will keep growth going – albeit at a slower pace than the RBA and Government are assuming – but which should be enough to stop unemployment surging beyond 6% and feeding back to become a bigger threat to house prices.
Infrastructure spending is strong, resources investment is close to the bottom, non-mining investment is looking healthier, tax cuts for low and middle income earners next quarter (whether paid upfront or backdated a few weeks later when passed by Parliament) will provide some help, fiscal stimulus is likely to be increased helped by the windfall from the surging iron ore price and rate cuts will provide some help fo households with a mortgage.
Yes, the trade war could spiral out of control – but this probably means more stimulus from China which provides an offset for global growth and explains why the iron ore price keeps rising. The other big risk is that investors decide to exit in the face of low net rental yields &amp; diminished capital growth expectations.
Revised house price forecasts
Our forecasts for national average prices have been for a price fall of 15% top to bottom (of which we have done 10% so far) and for Sydney and Melbourne it’s been for a price fall of 25% top to bottom (of which Sydney has already done 15% and Melbourne 11%) and for prices to bottom in 2020.
Reflecting the considerations discussed above – notably the removal of the threat of changes to negative gearing and capital gains tax, imminent rate cuts, assistance for first home buyers and APRA’s relaxation of the 7% serviceability test - we are revising the estimate for Sydney home prices to a 19% top to bottom fall, Melbourne to 15% top to bottom (partly because it has been holding up much better likely reflecting stronger population growth) and the national average to 12% top to bottom with prices likely to bottom by year end.
However, given still poor affordability, still very high debt debt levels, tighter lending standards and rising unemployment a quick return to boom time conditions is most unlikely.
More likely is a lengthy period of constrained range bound house prices after they bottom later this year (although I thought the same around 2011-12 – but things are different now!).
DR SHANE OLIVER Head of Investment Strategy and Chief Economist AMP Capital
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