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?

<html><body>
Fashion designer Kit Willow Podgornik has listed her Vaucluse home with $5.8 million hopes.
Property Observer gets a sneak peek.
<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/2019/5/16/kit%20willow%202.jpg" alt="">
The creative brains behind KITX fashion brand and her husband, property developer Mark Podgornik, have called the four-bedroom house home for nine years.
Perched on the hillside above Vaucluse House, they paid $2.1 million with a subsequent two-year renovation.
<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/2019/5/16/kit%20willow%204.jpg" alt="">
This article was first published in the Saturday Daily Telegraph. 
</body></html>

firstname1-iYD4UYzvBa

Fashion designer Kit Willow lists in Vaucluse 

<html><body>
Professional footballer Jarryd Hayne is again seeking tenants for his Darlinghurst investment property.
Hayne has owned the terrace since paying $1,585,000 in 2013, bought during his first stint at the Parramatta Eels.
The two-time Dally M Medal winner is looking for tenants willing to pay $1350 a week, the same price he asked this time last year.
There’s little change to its April 2018 listing, other than normal wear and tear.
It was first listed for rental at $1700 a week on its 2013 purchase, then at $1450 six months into his ownership.
The 1890s-built home has three bedrooms and an open plan living/dining space that opens to a north-facing terrace.
Our Estates agents Adam Regan and Kay Davis are handling the marketing.
Two years ago, while at the Gold Coast Titans, Hayne sold his former Paddington home for $2.85 million.
Hayne had paid $1.13 million in 2013 and renovated throughout.
The same year he bought two apartments off the plan in the Parramatta development Koi.
He spent $600,000 on an apartment on the 16th floor and $605,000 for one on the 17th.
This article was first published in the Sunday Telegraph. 
</body></html>

Jarryd Hayne seeking tenants for Darlinghurst investment

<html><body>
Online property auctions have been around now for two decades, but their embrace in the onsite auction capital cities has been slow.
I'm surprised they aren't more popular, but expect there will be a fillip during the current downturn.
Australia has long pioneered the best technology in the era of real estate digitalisation.
One of the reasons online auctions are the future is that we live in an increasingly self obsessed busy 24/7 world.
Not everyone can always make it to an onsite auction, so reaching more buyers by embracing technology allows the expatriate to bid from their office in China; the first home buyer can still bid while holidaying on the Greek Islands or they might be busy parents with their mobile phone on the sidelines of their child's must see sporting grand final.
Online auctions offer transparency, greater access, convenience and mobility.
It is odd that more agents haven't jump on board. 
There's the occasional gimmick with an unsuccessful live cryptocurrency NSW north coast real estate auction last month.
There can be still be emotion in the online auction as we see whenever monitoring listings on Ebay or the antique online auctions.
The online auction experience can also sometimes give buyers the opportunity to get in early and make a winning bid before the auction starts to heat up, or to compete against the clock and other bidders in a countdown towards final call.
Online auctions are popular in the Australian bush.
Malcolm and Lucy Turnbull are selling one of their Hunter Valley properties, Scotts Creek having asked rural agent Chris Meares at Meares &amp; Associates to conduct an online auction next month.
Meares expects the two-day auction to attract bids of between $6.5 million to $6.75 million for the 2000 hectare farm.
He expects the potential buyers will visit the property, do the due diligence, get their finances in order and then register before bidding online.
Each bid will be visible online in real time with the bidder’s identity remaining private.
With each bid, the system will declare whether the reserve price has been met or not.
Often most of the bidding activity occurs in the last hours, with the deadline pushed back by five minute increments until exhausted.
Once the virtual hammer falls there is a binding contract in place. The deposit monies are not however exchanged online.
Meares likes the process as there's plenty of time to consider the offering with family and financial advises.
Many auxiliary tasks associated with buying property have well and truly moved online.
It includes online conveyancing services which has take over from the paper-based property settlement process
Integrated electronic settlement services have created a one-stop solution for the industry.
While we have marvelled at the speed we can find the best priced mortgage, we still often distinguish between low cost convenience transactions and high value strategic decisions and the need for advice.
I'd suggest Australians still like interaction with an expert mortgage broker when they take on their biggest debt.
The rise of the internet over the past two decades has changed property purchasing information right at your fingertips, any time of day or night. Street View, Google Earth and Google Maps offer invaluable information and orientate you instantly. 
Alerts can be set up for news and listings in any suburb of your liking.
There's property price estimates guidance and auction results too, along with the capacity to ascertain the successes of active real estate agents who you can call on to transact at a later stage.
Of course, glossy property magazine ads still capture the attention too.
This article first appeared in The Daily Telegraph. 
</body></html>

jchancellor-FAypfDUnLy

Embrace of online property auctions has been slow

<html><body>
Bay Window Villa, a fully renovated 1890s home on an elevated position in Semaphore, South Australia, remains for sale after its recent auction.
Nick Psarros and Melinda Bennett of Ray White Port Adelaide now have a guide of $1.3 million to $1.35 million for the <a href="https://www.realestate.com.au/property-house-sa-semaphore-131097078" target="_blank">Hall Street property</a>.
Nestled on an 860 square metre block, Bay Window Villa at 87 Hall Street comprises master bedroom with ensuite, two other bedrooms, huge formal lounge with bay windows, state of the art kitchen, and laundry with cabinetry and bench space. 
The kitchen comes with stone bench-tops, integrated SMEG dishwasher, SMEG 5 burner gas cooktop, SMEG integrated wall oven and microwave, double sink and room for a double door fridge.
<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/2019/5/21/semaphore%202.jpg" alt="">
The original features of the 1890s home include original wrought iron, column fence, bluestone facade, imposing verandah, high ornate ceilings, polished floorboards, and light fittings. 
The backyard completes with alfresco entertaining area, and built-in cabinetry and space for fridge and BBQ.
<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/2019/5/21/semaphore.jpg" alt="">
The home is close to retail stores, restaurants, coffee shops, beach and schools. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Semaphore trophy home Bay Window Villa listed for auction

<html><body>
Mount Warren Park, Beenleigh and Windaroo are top of the list for buyer interest on the north-west of Gold Coast, according to a recent Herron Todd White (HTW) residential report. 
The report suggests while market activity and in some cases prices have come off a bit in recent months, it is still possible to find a value for money house or unit.
"There are options for those who want to buy and renovate for a profit or rental returns. Some positively geared options are also around," the valuation firm said. 
"The suburbs we have chosen are established older areas, not flooded with redevelopment, new estates or investors."
A on-ground semi modern house in Mount Warren Park has been sold for $230,000 (pictured above). 
The circa 1990 brick house at <a href="https://www.realestate.com.au/sold/property-unit-qld-mount+warren+park-130205206" target="_blank">14/9 Quinton Court</a> comes with three-bedroom, one-bathroom, tiled roof and single-car garage.
The property includes renovated kitchen, bathroom and new carpets.
It rents for $310 per week with body corporate fees of $40 per week.
<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/2019/5/21/windaroo.jpg" alt=""> 
The property at <a href="https://www.realestate.com.au/sold/property-house-qld-windaroo-129568426">13 Mewing Court, Windaroo</a> comprises a semi modern, on-ground, circa 1992, brick three-bedroom, two-bathroom dwelling with single-car garage and tiled roof.
It includes recent floor coverings and paint with original kitchen and bathrooms. Land area is 622 square metres. Property rents for $390 per week.
The compromises are that you are mainly looking at older properties which may require maintenance or updating soon, the report noted.
"When you look at nearby suburbs such as Bahrs Scrub or Holmview where you can buy a new dwelling, these properties are usually priced up to the dollar and can often take some years before you see a capital gain given the premium paid for being new," it advised.
"We consider there to be a likelihood of prices falling somewhat for most of this year in these locations, then hopefully a resurgence in the market thereafter.
"However at present, the rental market in these locations is pretty strong providing a good holding income in the meantime.
"The property to buy as a home or an investment are regarded as the same property in these locations."
</body></html>

North West Gold Coast's established suburbs offer value for money: HTW

<html><body>
GUEST OBSERVATION
The Greater Sydney Commission <a href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">has proposed</a> a 40-year vision of a metropolitan region formed of three “cities”: the Eastern “Harbour” City, the Central “River” City, and the Western “Parkland” City. The plan aims to create 30-minute cities, where the community has access to jobs and services in three largely self-contained but connected regions. Thus, Sydney would be polycentric.
<a href="https://images.theconversation.com/files/272465/original/file-20190503-103071-14wvrq1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272465/original/file-20190503-103071-14wvrq1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Greater Sydney Commission’s Three Cities Plan. <a class="source" href="https://www.greater.sydney/metropolis-of-three-cities" target="_blank">Greater Sydney Commission</a>
A polycentric city has multiple centres of employment, economic or social activity. Local labour markets and residential zones minimise long commutes, create a sense of place and neighbourhood, and strengthen economic agglomeration as companies, services and industries benefit from being close to one another.
However, it is still unclear whether Sydney is actually moving towards such a structure. In our <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/0042098019832517" target="_blank">recent work</a>, we developed new ways of measuring polycentricity. We applied these to <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0.55.001%7E2016%7EMain%20Features%7EJourney%20to%20Work%20to%20Place%20of%20Work%7E60" target="_blank">Journey to Work data</a> from the 2016 Census to test how consistent the current centricity patterns of Greater Sydney are with the proposed plan.
How do you measure polycentricity?
Traditionally, employment densities are used as a measure of polycentricity. If the density of jobs in a location is higher than the average density for the entire region, then it is a centre.
However, this simple measure misses a key notion that makes cities what they are: network flows and spatial interactions. People “flow” from one place to another. Employment centres “attract” flows, and residential areas “produce” flows. Thus, a city is a collection of locations that interact dynamically, connected by daily commuting flows.
We proposed a set of new metrics to capture this idea of flows. We defined the net inflow of people to a location as the total number coming to this location to work minus the total number going from this location to work elsewhere. If the net inflows are positive, this place is a centre.
The chart below illustrates the idea. The base arc on the circle shows the number of people “flowing” out of a location to another location. The connecting arcs are coloured black if the net inflows into the focus regions (a), (b) or (c) are positive.
<a href="https://images.theconversation.com/files/272469/original/file-20190503-103053-1y6xdsk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272469/original/file-20190503-103053-1y6xdsk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Testing polycentricity via net inflows: (a) Sydney City and Inner South (Sydney CBD), (b) Parramatta, (c) Eastern Suburbs. Source: The authors
Sydney CBD clearly emerges as a global centre for the whole region. Parramatta is a regional centre. Other locations such as the Eastern Suburbs are not centres at all.
The net inflow to a location can be divided by the total number of trips in the system, so inflow values are scaled from 0 to 1 using a standard statistical procedure. The higher the value, the higher the centre’s rank in the urban system. Here, a score of 1 means the centre is an absolute: all the trips in the system are a net inflow into the centre.
This gives us a trip-based centricity measure. And based on the area of the location, we can calculate a density-based centricity measure.
The maps below show trip-and-density-based measures – (a) and (b) respectively – for Greater Sydney at the Statistical Area Level 2 (representing a community that interacts together socially and economically).
Note the dominant role of the Sydney CBD. The other centres emerge as weak centres. Also, many of the second-order centres are very close to the CBD.
<a href="https://images.theconversation.com/files/272473/original/file-20190503-103060-1ho7ztu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272473/original/file-20190503-103060-1ho7ztu.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Visualising polycentricity in Sydney (red indicates highest values): (a) trip-based centricity, (b) density-based centricity, (c) transit-accessibility-based centricity, and (d) auto-accessibility-based centricity. Source: The Authors
The concept of accessibility
Counting the net inflow into a location may provide us with information about general centricity. However, it still does not tell us how easy or difficult it is for people to actually get to jobs. This brings us to the idea of accessibility.
Walter Hansen <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/01944365908978307?journalCode=rjpa19" target="_blank">defined accessibility</a> as “the spatial distribution of activities about a point, adjusted for the ability and the desire of people … to overcome spatial separation”. More practically speaking, a location is accessible if it can be reached within a set time (say 30 minutes) from another location.
We counted the net accessibility of a location by counting the number of jobs minus the number of workers (labour) that could be accessed from a particular location (SA2) in Sydney within 30 minutes. We counted travel time both by car and by public transport during a usual weekday peak hour (Wednesday 8am). Similar to the trip and density measures, accessibility centricities can also be scaled as values between 0 and 1. This allows us to compare across the four measures.
In the maps above, (c) and (d) show the transit and auto-based accessibility centricities based on accessibility for public transport and vehicles. Sydney CBD is highly accessible. The second-order centres show much weaker accessibility.
Takeaways for urban policy and the three-cities plan
The chart below shows the top-ranked centre, Sydney CBD (Level 1 centre), and the lower-ranked subcentres (Levels 2 and 3) emerging from our analysis.
<a href="https://images.theconversation.com/files/274555/original/file-20190515-60570-9791ct.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/274555/original/file-20190515-60570-9791ct.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Identified Level 1, 2, and 3 Centres for the Greater Sydney metropolitan region. Source: Authors
Accessibility planning should guide the design of a polycentric city
The design of polycentric Sydney should be guided by accessibility, the locations of jobs and homes, and subregional labour market organisation.
In short, the region should give priority to making jobs accessible by locating new jobs in emerging centres, instead of a mobility-focused system that takes people to jobs.
Reduce spatial mismatches between jobs and homes
Our results show that Sydney, paradoxically, remains strongly monocentric and strongly dispersed at the same time. The Sydney CBD accounts for 15% of jobs in the region, with the remaining 85% of jobs scattered around in weaker second-order centres and non-centres. Positive correlations exist between percentage of employed workers, trip-based centricity and the subcentre ranks.
But we see significant disparities between these ranks and accessibility centricities. This shows the spatial mismatches for commute lengths in the system.
A subcentre with high trip-centricity, employing a high percentage of workers, but relatively lower auto- and transit-based accessibility centricity, implies that even though a significant percentage of the population comes to this location to work, access to jobs at this centre within 30 minutes is low.
A policy response would be to increase the accessibility of jobs from this location, as it already serves as a centre. This situation is particularly clear in the cases of Parramatta-Rosehill and Macquarie Park-Marsfield. Penrith and Liverpool too have extremely weak accessibility centricity.
Polycentric cities should promote spatial justice
As cities grow in size, commute lengths increase if the labour market for the entire metropolitan region is integrated. Commute lengths will stabilise if a city has a clear polycentric or modular structure.
In the case of Sydney, <a href="https://theconversation.com/what-did-the-rich-man-say-to-the-poor-man-why-spatial-inequality-in-australia-is-no-joke-73841" target="_blank">spatial equity</a> has always been a concern. However, <a href="https://theconversation.com/our-big-cities-are-engines-of-inequality-so-how-do-we-fix-that-69775" target="_blank">inter-city comparisons</a> show city size has a strong bearing on its equity and efficiency.
Our results show it’s increasingly important for larger cities to introduce a framework of subregional labour markets as part of the polycentricity agenda. Enabling shorter commutes for workers will improve spatial equity as well as efficiencies.<img src="https://counter.theconversation.com/content/115847/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Somwrita Sarkar, Senior Lecturer in Design and Computation, University of Sydney
David Levinson, Professor of Transport, University of Sydney 
Hao Wu, PhD Candidate, School of Civil Engineering, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-close-is-sydney-to-the-vision-of-creating-three-30-minute-cities-115847" target="_blank">original article</a>.
</body></html>

How close is Sydney to the vision of creating three 30-minute cities?

<html><body>
Byron Bay is fast becoming Hemsworth heartland.
Hollywood hunk Chris Hemsworth and his extended family already own two Byron properties, including the mega-mansion he and wife Elsa Pataky are building.
Now Pataky’s half-brother Cristian Medianu, a film director who has worked with Hemsworth on Thor: Ragnarok, has bought a $1.5 million house in Suffolk Park, just five minutes away.
Medianu will live there with his new wife, nurse Silvia Serra, adding more star power to the town already dubbed “Hollywood by the sea”.
Hemsworth’s Hollywood buddy Matt Damon and his family are regular visitors, as are brothers Hunger Games actor Liam Hemsworth, and his music star wife Miley Cyrus, and Westworld’s Luke Hemsworth.
<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/2019/5/21/suffolk%20park.jpg" alt="">
The clan’s Byron property purchases now total $12.8 million — plus another $8.8 million on a knockdown rebuild.
Chris and Liam are listed as directors of the company that spent $4.3 million on a Suffolk Park beachfront late last year, which was mooted to become the home of their parents Craig and Leonie.
The Thor star and Pataky are putting the final touches to their Broken Head mega-mansion, after knocking down the eight-bedroom home they bought for $7 million in 2014.
This article was first published in the Saturday Daily Telegraph. 
</body></html>

Chris Hemsworth clan continues Byron Bay buy up

<html><body>
SQM's Louis Christopher thinks that dwelling price rises may materialise from the second half of the year as demand increases as a result of an expected improvement in confidence.
He added so far this year the national market this year has fallen by another 3.8 percent. 
"Our base case forecast, released in our 2019 Housing Boom and Bust Report back in November 2018, was for a total 2019 dwelling price fall of between 3 percent to 6 percent.
"It would be fair to say that up until this past weekend the market was heading towards the bottom end of that forecast." Christopher noted his 2018/19 Housing Boom and Bust report had a scenario 4 which followed a Liberal victory with interest rate cuts late in 2019. 
He anticipates the national housing market could record a price fall for this calendar year of between 1 percent to 4 percent.
"We believe the Liberal victory means increasing buyer confidence in the market which was severely lacking as a result of the anticipation of the change in negative gearing and capital gains tax by a Labor Government."
But Christopher considers an upside on his scenario 4 forecast which did not take into account additional loosening on credit lending with <a id="LPlnk285314" href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=5823b4fe77&amp;e=0aab96dc54" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">APRA</a> set to drop the 7 percent theoretical interest rate for banks to use when calculating serviceability by borrowers. 
"This move should mean that more loan applicants will qualify for a loan and/or their borrowing limits will increase." Following the May statement by the Reserve Bank, Christopher noted it appears a cut in the cash rate next month is almost a certainty. "Scenario 4 does not take into account an earlier than expected rate cut.  "If there was such a cut over the course of June, July and/or August, it is likely the market would respond and demand for residential property would increase over and above our scenario 4 forecast. "Needless to say a combination of loosening credit restrictions plus a cut in interest rates, increases the risk of another housing boom which I am sure that is not what the ‘powers that be’ would want, but they may well yet get."   Christopher noted the Australian housing market still contains headwinds which include:
<ul>
<li>The Sydney and Melbourne markets are still in overvaluation despite the price corrections that have occurred since mid-2017.</li>
<li>Ongoing restrictions on home lending in the form of a more conservative HEM and reduced purchasing power multiples on reported borrower net income.</li>
<li>Ongoing global trade tensions causing some economic uncertainty</li>
<li>Ongoing high housing Debt to GDP levels</li>
<li>Elevated rental vacancy rates, particularly for Sydney.</li>
<li>Elevated listings in Sydney and Melbourne</li>
</ul>
"These headwinds should initially prevent another rapid housing boom from developing.
"However, if we are to see a rate cut of 50 basis points or more over the next 2-3 months, combined with today’s announcement by APRA, all cards are off the table for 2020.  
"And for 2019, our scenario 4 estimates may well end up being too conservative with the risks plainly being on the upside.
SQM's initial forecast for 2019 was:
<a href="https://www.propertyobserver.com.au/images/2019/5/21/sqm%201.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/5/21/sqm%201.png" alt=""> Source: SQM Research
<div>
 
</div>
 
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Liberal win, APRA loosening and pending RBA rate cut sees SQM's Louis Christopher forecast price recovery

<html><body>
A three-level Republic 2 apartment in Darlinghurst has been listed for June 1 auction with a $2 million to $2.2 million price guide.
The sub-penthouse at <a href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-131122234">301/50 Burton Street is being sold </a>by retired Bangkok-based Willis Towers Watson executive Andrew Heard.
<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/2019/5/29/dar%202.jpg" alt="">
David Servi of Spencer &amp; Servi has listed the two-bedroom, two bathroom apartment which has 172 square metres of floorspace, including the rooftop terrace with city skyline views.
<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/2019/5/29/dar%203.jpg" alt="">
The apartment sits in a BKH Architects-designed complex with an outdoor pool and gym.
There is level lift access to secure double car parking, along with visitor parking in the pet-friendly complex.
</body></html>

Republic 2, Darlinghurst sub-penthouse listed for June auction

<html><body>
Australian businessman Graeme Samuel is selling his former Toorak home.
The now Brighton-based former consumer rights chief is seeking $8 million to $8.4 million for the single-level home which was created by building designer Kim Andrews and John McNamara.
<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/2019/5/29/too%202.jpg" alt="">
<a href="https://www.realestate.com.au/property-house-vic-toorak-131083306" target="_blank">Set in 855 square metres of landscaped gardens by Jane Jones</a>, the home has three bedrooms and two bathrooms under its slate roof. A pool sits in the grounds.
Kay &amp; Burton agents Ross Savas and Darren Lewenberg have the listing.
<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/2019/5/29/too%203.jpg" alt="">
Samuel paid $3.05 million in 2007 before its full scale renovation.
It was owned in the 1970s by media executive David Evans who sold his nearby home, Koonda last month.
This article first appeared in The Weekend Australian. 
</body></html>

Latest Property News

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Property News

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News