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John McGrath has pinpointed the infrastructure projects set to trigger price growth in benefitting suburbs.
Major projects in Sydney are shortening the city commute and unlocking affordable outer suburban areas previously dismissed by city families for being too far to travel for work, he noted on his Switzer blog.
"This is providing growth stimulus for local property prices."
He pointed out that history shows that major infrastructure can have a direct and meaningful impact on property prices.
He identified the best new projects currently underway that he feels will have a big impact on local property prices. 
Sydney
New projects 
WestConnex - 2015-2023     
WestConnex is the biggest transport project in Australia today. It involves a 33km link between Sydney’s far west through to the city, airport and Port Botany precinct, bypassing 52 sets of traffic lights.
The project will result in significant travel time savings by car and bus. Commuters travelling by car from Parramatta will save 25 minutes to the CBD and 40 minutes to the airport. About 10km of new bus lanes will halve the CBD commute from Burwood. WestConnex will also divert 3,000 trucks off Parramatta Road per day.
<img src="https://www.switzer.com.au/assets/8128/20151109-mcgrath_normal.png" alt="" width="327" height="104" style="line-height: 1.3em;">
Past projects M5 East Motorway - 1998-2001 
<img src="https://www.switzer.com.au/assets/8130/20151109mcgrath1_normal.png" alt="" width="371" height="105">
The 2015 McGrath Report can be downloaded <a href="https://www.propertyobserver.com.au/https://issuu.com/mcgrathestateagents/docs/mcgrath_report_15?e=7704045/30983709">here</a>.
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John McGrath pinpoints Sydney's residential price changing infrastructure projects

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The 1882 Faulconbridge residence, Eurama, one of the grandest NSW castellated pioneer homes, which is now sandstone ruins has been sold for $1,225,000 to the Donghua Group.
The house on the <a href="https://www.chapmanrealestate.com.au/listings/land_sale-380050-faulconbridge/" target="_blank">93 hectare holding</a> has been dilapidated since being gutted by a 1968 Blue Mountains bushfire.
It sold through Jonathan Crisp at Chapman Real Estate under mortgagee instructions.
It was built by politician land dealer Andrew McCulloch after the property was bought from the retired chief justice, Sir Alfred Stephen, for 3800 pounds. Costing about #13,000, colonial architect George Mansfield designed it with furnishings by Lyon, Cottier &amp; Co. But by the late 1880s McCulloch was bankrupt. McCulloch's coat of arms, however, remains above the its missing main door, Vi et Animo meaning By Strength and By Courage.
The neighbours included other powerful colonial figures such as the Father of Federation, Sir Henry Parkes, and Sir James Martin, the former premier of NSW.
By the late 1880s, after McCulloch was bankrupt Eurama sold to importer J.W. Cliff, one time owner of Elizabeth Farm, and his wife, Jessie, the parents of 16 children.
Part of the Eurama castle estate comprised individual building lots has already been sold with homes under construction.
The latest 93 hectares of land had been offered as divided into 15 lots. The estate came with an ornamental lake, once used for small sailing boats.
Originally known as Weemala, an aboriginal word said to mean an expansive view, the name changed in 1907 to Eurama, a Greek word meaning much the same.
The sandstone ruins can be seen from the train and from the Great Western Highway opposite Todarello’s Fruit House at Faulconbridge.
This article was first published in the Sunday Telegraph.
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Blue Mountains sandstone ruins sell for $1.2 million

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The retired politician turned author Peter Garrett and his wife, Doris have lowered the asking price on their 5.8 hectare Mittagong retreat, Rowe. 
The historic Queen Anne Federation cottage now has $2.95 million expectations rather than its initial $3.3 million plus through Drew Lindsay Real Estate agent John Renouf. 
Rowe Cottage was among the Mittagong Cottage Homes, established from 1885 by the State Children's Relief Board. 
The cottage has undergone extensive renovation since bought for $531,000 two decades ago. 
Peter and Doris are planning to spend more time up in Sydney at their newly acquired $2.7 million Paddington terrace, and possibly buy something smaller in the highlands. 
This article first appeared in the Saturday Daily Telegraph.
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Retired politican Peter Garrett lowers Rowe Cottage, Mittagong asking price

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A 500 square metre Port Melbourne full-floor penthouse has been listed by Jane Parker, who played a major role in the early years of the iconic Australian fashion brand Country Road alongside her brother, Stephen Bennett.
<a href="https://www.realestateview.com.au/Real-Estate/124-1-graham-street-port-melbourne/Property-Details-buy-residential-9712043" target="_blank">The Portside apartment at 124/1 Graham Street</a> is being marketed to sell for more than $3.75 million at its November 21 auction.
It last traded at $2.9 million in 2005 having sold at $1.8 million in 2001. It was briefly listed in late 2010 with $4.5 million hopes.
The apartment offers four bedrooms, two living areas and an enormous terrace looking to the city skyline. It has three basement car spaces.
In 1974, Bennett was working for Thomas Wardle, a Flinders Lane fashion identity, when he borrowed $20,000 from his father-in-law.
He launched a range of shirts designed to cash in on the jeans boom. 
Country Road's original team consisted of Bennett, his former wife, Pam, and her sister (also a designer) Margaret McQueen.
They set up shop in Burwood Road, Hawthorn.
Designer Jane Parker joined a year later in 1975.
 
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Country Road pioneer Jane Parker lists Port Melbourne penthouse

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James Magnussen, the first Australian to win the men’s 100m freestyle world title in 2011, foresees his real estate investment hobby might become more serious at the end of his time in the pool.
Training now for the Rio de Janeiro 2016 Summer Olympics, Magnussen Enterprises Pty Ltd paid $623,000 earlier this year for a Ryde unit in a 1960s red-brick walk up block.
The 4/29 Gladstone Ave unit - an 88 sqm three-bedder - has been scheduled for November 14 auction with $750,000 hopes.
Bought in original condition in the block of six, the Drummoyne based Magnussen, and a builder mate, renovated the property over the last four months while he was in recovery from major shoulder reconstruction surgery.
The ­refurbishment, including new kitchen and bathroom, cost about $50,000. 
The property, with district views, could yield a $650 plus weekly rent, <a href="https://www.realestate.com.au/property-apartment-nsw-ryde-121005886" target="_blank">its LJ Hooker Ryde City listing agent Neil Moorjani suggests</a>. 
Magnussen spent $935,000 in 2012 on his Drummoyne flat which was well bought as it had traded at $910,000 in 2007.
This article was first published in the Sunday Telegraph.
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James Magnussen's Ryde property flip auction test

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ASIC has permanently banned a Queensland mortgage broker Jiangyong (Jenny) Mao from engaging in credit activities and providing financial services after an investigation found she created and submitted false documents in support of home loan applications for her clients.
ASIC said Mao "is not a fit and proper person" to engage in credit activities, and determined she was "not of good fame or character".
"The integrity of the home loan industry relies upon participants who are honest. ASIC will ban people who deliberately engage in fraudulent conduct," ASIC deputy chair Peter Kell said.
Mao has the right to seek a review of ASIC’s decision to the Administrative Appeals Tribunal.
Ms Mao, of South Brisbane, Queensland operated a home loan broking company, Diamond Lady Group Pty Ltd (Diamond Lady Group) which held an Australian credit licence from 2010 until 2014. 
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ASIC bans Diamond Lady Group Queensland mortgage broker

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GUEST OBSERVER
The prevailing mainstream commentary of the Australian coal sector is that its future is secure.
Any lost demand from China for Australian exports will be replaced by demand from India. Other growth markets such as South East Asia will also fill the gap. Shifts in demand for renewable energy are not material to the outlook.
But some key trends sketch out a different story.
In 2014, thermal coal use in China fell 2.9% on the previous year’s consumption. In 2014, the Chinese economy grew 7.4% and electricity production grew 3.8% via everything but coal: solar, wind, hydro, nuclear and biomass. In fact, China’s coal fired power generation was down 3%.
Chinese coal imports dropped by 11% over 2014 and a further 38% in the first four months of 2015 due to the government prioritising sourcing coal domestically to assist local producers who are losing money, as well as the contractionary cycle.
Australian coal producers remain optimistic though that demand from India will compensate. However this demand is unlikely to eventuate. In just a few years, India’s coal demand will be met by domestic sources and by 2017 they expect to stop importing coal altogether. They are also ramping up production of their renewable energy industry to transform the way India sources electricity. It is also important to note that many regional areas in India do not have grid infrastructure, and are therefore unable to benefit from coal-fired power generation without significant capital investment.
The recent International Energy Agency (IEA) report predicts South-East Asia coal demand will triple in the next 25 years and commentators are suggesting that this changes the outlook for Australian producers. But South-East Asia represents 6% of world traded coal in 2014, so finding a small growth market will do nothing to offset the collapse in price in the main markets. Further, China, Japan and India are 50% of the world traded coal market and all three have peaked. That is why the coal price is down a further 20% this year.
Only a few companies are undertaking assessments of the risk of stranded assets, to understand the potential implications on their business. In October 2015, BHP Billiton produced a detailed analysisassessing the possibility for reduced demand of their resources due to the transition to clean technology and the risks that climate change pose to its asset portfolio.
The report predicts the continuing climb of the world’s energy demand, in line with GDP growth. While this is historically the case, many countries are beginning to decouple the two indexes. If these emergent trends continue, energy demand will still rise, but not as significantly as predicted.
BHP asserts that its coal assets will be safe due to their high quality and low price. This is also true, but the assessment doesn’t take into account the potential for governments to protect their domestic coal industries, avoiding imports, as China and India are doing.
BHP’s analysis of renewables is based around the assumption that uptake of renewables will be forced by government policy. The report does not consider that the continued drop in renewable technology prices will see deployment grow independent of subsidy and potential increase in growth rates, beyond historic trends. There is growing analyst consensus that there will be mass-market uptake of battery storage over the next five years. This is also predicted to dramatically increase the growth rate for deployment of renewables.
Last month, Bank of England governor Mark Carney warned that the vast majority of the world’s fossil fuel reserves could become stranded assets if scientist’s estimates on how we cannot afford to burn these reserves proved approximately correct. Many were surprised that a mainstream banker was articulating the view that this has the potential destabilise existing energy markets and shake up countries’ economies.
Mining and energy companies are starting to feel the pinch. Glencore is the story of the Titanic. In May 2015, they assessed their stranded-asset-risk at zero. Not 10%, or 1.5%, but no chance whatsoever.
Glencore is now in financial trouble due to a combination of too much debt, off balance sheet leverage and low resource prices, particularly coal. Six months ago the company told investors at the Annual General Meeting that there was “no risk” that its assets would become stranded.
Glencore’s grim financial situation and reasons for it shares some similarities to that of US coal mining company, Peabody Energy Corporation.
These company’s often irreverent attitude towards the risk posed by both climate change and renewable energy could be seen by investors as a proxy for how it approaches risk in all other aspects of their business.
In Queensland, the Adani Carmichael coal mine that has just been approved is another example of a coal project that is struggling with finance. Both NAB and the Commonwealth Bank backed out of funding roles in the project, and other big multinational financiers, such as JP Morgan, Deutsche Bank, Morgan Stanley and Citibank have said they will not invest. Many see the project as commercially unviable and that given the macro trends around thermal coal, the sector is in structural decline.
It is understandable that companies want to keep their business outlooks positive and not spook their shareholders. It makes sense that they don’t wish to include the complex, knotty issues.
But these issues are why you employ sophisticated risk analysts and they make for a more balanced approach. These recent cases show that ignoring them doesn’t make them disappear.
The hope is that the industry will mature and start thinking in a more nuanced way about these risks. BHP Billiton’s report on this is a good start.
 
Jemma Green is research fellow, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/jemma-green-105891" target="_blank">here</a>.
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The danger of stranded assets lurks for unwary coal producers

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GUEST OBSERVER
Our experiences are heightened when we travel. Removed from our day-to-day rituals and familiar terrain, even the most pedestrian things - street signs, passersby, sidewalk cafes - can become fascinating.
But in the age of Google Street View and the relentless posting of holiday snaps on Instagram and Facebook, experiencing unfamiliarity has become harder.
Social media is reconfiguring our experience of the city, and tapping into our increasing appetite for unique and authentic urban experiences.
<h2>Architectural icons in the age of social media</h2>
In The Work of Art in the Age of Mechanical Reproduction (1936), Walter Benjamin argues that artworks embody an “aura” – a kind of authenticity that cannot be captured in a reproduction. Each time an artwork is reproduced through film or photography, the cultural value of the original is diluted.
Architect Hans Hollein made a similar observation in response to the increasing access to television in the 1960s:
It is almost of no importance if […] the pyramids exist in physical reality, as most people are aware of them through other media anyway.
Benjamin and Hollein’s concerns for the dwindling cultural value of the original has never been truer than in the current image-saturated context of social media.
<div class="enlarge_hint">We have exhausted our global architectural icons – they have been reduced to photogenic backdrops for our selfies. We want to be seen at these sites because they allow our audiences to instantly locate us. But, as cultural experiences, they have become empty and clichéd.</div>
Enter Airbnb.
Whether coincidentally, or strategically, Airbnb’s appearance is well-timed. In the company’s Mankind, Belong Anywhere marketing strategy, Airbnb promises something much more immersive: a day in the life of a local.
<h2>Interpreting buildings: from spectator to participant through Airbnb</h2>
It is widely acknowledged that there is a shift in mentality among Millennials, who privilege the consumption of experience over the consumption of material things. We could understand our changing relationship with buildings as an extension of this logic.
In Learning from Las Vegas (1972), Robert Venturi and Denise Scott Brown investigated the architectural strategies casinos developed in response to the drive-by experience of tourists to the Strip.
They categorised buildings into Ducks and Decorated Sheds. By their terms, Ducks are architectural icons whose meaning is conveyed through their form. Sheds are everyday generic buildings, whose meanings are conveyed through applied signage.
But through platforms such as Airbnb, we are no longer spectators reading a visual language. Meaning is derived through experience, through our active participation.
We are invited to interchangeably experience the ordinary and the extraordinary varieties. Both the Le Corbusier-designed apartment and the suburban bungalow are up for grabs.
<h2>Airbnb reconfiguring the city</h2>
Airbnb has reprogrammed the city. The “hardware” or urban fabric remains the same, but the “software” – our use of it – has been radically reconfigured.
European summers have traditionally seen an influx of tourists to historical centres, while the local populations – the majority of whom live outside the centre – vacate to escape the summer heat. Rather than leaving their homes vulnerable and losing money on rent, many locals are choosing to sublet.
As a result, everyday neighbourhoods that would typically be in lock-down during this period have reawakened. The decentralised activity provides incentive for local businesses to continue their operation, and more eyes on the street.
Opening up the tourism industry to grassroots entrepreneurs has been a democratising process. With the redistribution of available accommodation across the city, our urban experience has changed.
A mapping exercise comparing the location of hotels to Airbnb stays in Brisbane in September suggests that the online platform offers a much more diffuse and a largely suburban experience. This is in direct opposition to the almost exclusively urban experience indicated by the concentration of hotels in the centre.
Adding to the allure is that the Airbnb map is always in a state of flux. Tourists may never experience the city in the same way twice. To this effect, the psychology of Airbnb is similar to that of the ephemeral pop-up. The “ordinary” and everyday “back regions” – now much more accessible – have become the fresh, unchartered territory for exploration. 
Each year, governments around the world pour huge amounts of money into the anachronistic preservation and maintenance of historic city centres primarily for the tourist market. Has Airbnb burst the “Disneyland” bubble that has enveloped our historical centres, governing their image and operations for export?
Since Airbnb, the traditional spatial division between urban tourist and the suburban local has been ruptured.
It remains to be seen whether this leads to positive urban outcomes such as the upgrading of infrastructure for our greater metropolitan areas, or whether the “city-as-a-themepark” analogy will persist and spread, sanitising and homogenising our everyday neighbourhoods.
<h2>Architectural implications</h2>
Certainly, the impacts of Airbnb on architectural typologies are already tangible. We are witnessing a shift towards new and modified residential configurations to accommodate co-habitation or dual occupation which, increasingly, may start to drive housing diversity.
Another product of the Airbnb phenomenon is the revival of urban “existenzminimum”: making use of existing left-over spaces that are plainly too small for long-term rental but that resonate and fetch a good price with experience-seeking Airbnb guests.
The more sinister flipside could be the perpetuation of unregulated, high-density apartments. The potential is for such properties to be designed as investments to maximise profits with little or no regard for their presently “itinerant” tenants, or future legacy.
As with the taxi industry after Uber, there has been much speculation about the impact of informal tourism on the hotel industry. Researchers have argued that while Airbnb lowers the financial barriers for travel and will appeal to adventurist tourists, hotels will continue to attract business travellers.
<h2>Consolidating attraction and accommodation</h2>
But there is evidence that hotels are also responding to the shift in the market towards an “experience economy". Melbourne-based entrepreneurs responsible for a number of successful bars in the CBD have reconceptualised the hotel experience around “luxury camping.”
A one-night stay in a luxury tent pitched on top of an urban shopping mall costs A$450, roughly equivalent in price to a junior suite with bay views at a five-star hotel, and without the necessary infrastructure and overheads.
The camping experience gives weight to the argument that, despite the changing nature of tourism, our cities have not yet escaped theme-park status. Only now, the attraction is the accommodation, and it is becoming more elaborate in step with the desires of today’s more sophisticated tourist.
While both the camping hotel and Airbnb promise “unique” new perspectives and exploit temporality to their advantage, the Airbnb brand is one built on everyday authenticity, and a sharing economy.
But the company’s recent acquisition of the tunnels in the Parisian Catacombs for €350,000 in time for Halloween suggests that it could be moving away from this pitch, towards something truly frightening. This brings the revelation that Airbnb is not simply operating as a platform for the publicity of our private spaces, but are also doing the exact opposite: privatising our public spaces.
The acquisition might provide a window into the future of our “tired” global architectural icons – their death and rebirth as part of a privatised, consolidated approach to attraction and accommodation.
 
Jacqui Alexander is lecturer in architecture, Monash University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/jacqui-alexander-196982" target="_blank" style="line-height: 1.3em;">here</a>.
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Airbnb, social media and the quest for the authentic urban experience

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GUEST OBSERVER
Business confidence slipped in October, offsetting most of the gains made in the previous month in response to the new Prime Minister. Although it is still early days for the new government, this is a disappointing result. On the other hand, current business conditions remained at their high level, reflecting the general improvement in the non-mining economy. 
After business confidence rose sharply in September, we noted the importance for both the government and the broader economy of sustaining this increase. Today’s data suggest that this is not going to be a straightforward task. However, the fall is somewhat surprising given solid increases in consumer confidence and in the government’s poll results over the same period.
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 That said, the fall in the NAB measure of business confidence brings it broadly back into line with the Roy Morgan business confidence series, which had been weaker previously.
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 It appears that Australian businesses are still sensitive to overseas conditions. Australian business confidence has tracked the softening in the global PMI which is a good proxy for global growth (Figure 2).
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 In more positive news, current business conditions remained elevated and are supportive of further solid growth in the non-mining economy in the near term (Figures 3 and 4).
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 The details were also encouraging. While profitability has eased a little, it remains at a high level and bodes well for near-term employment growth (Figure 4). Capacity utilisation continued to slowly improve, but our view is that ample spare capacity remains in the economy, limiting upward pressure on inflation, despite the risk that we see some belated pass-through from the lower AUD to tradables inflation (Figure 7). 
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Daniel Gradwell is economist and Justin Fabo is senior economist <a href="https://www.anz.com/corporate/research/" target="_blank">ANZ Research</a>.
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 Australian business confidence unwinds most of the Turnbull bounce: ANZ Research

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The former LJ Hooker CEO and industry icon, Grahame Cooke, passed away peacefully this morning in Hobart following his 18 month battle with cancer. 
Grahame commenced his career in real estate in October 1968 by walking into LJ Hooker Hobart and asking for a job.
They took him on as an assistant property manager, and he remained with LJ Hooker for more than 36 years.
Following his stint in property management, he became state manager in Tasmania and then moved north to take the role of state manager in Queensland, before moving to Sydney in 1990 where he was appointed executive general manager of franchising.
In 1994, Grahame was appointed LJ Hooker CEO and helmed an era of growth and geographic expansion until his retirement in late 2004.
Author Peter Lightfoot, in his book ‘Laugh and the World Laughs with You’, referred to Grahame as the “man who brought franchising to LJ Hooker - and to adulthood".
During his time Grahame saw huge changes including the advancement of technology and its impact on the real estate industry.
He rode out booms and recessions and guided the company through its challenges for it only to emerge strong and triumphant, the current CEO Grant Harrod said today.
"Grahame was an exceptionally passionate man and he always saw people as the greatest asset of our brand and would often say the LJ Hooker family would inspire him everyday." 
Grant Harrod listed some of Grahame's indelible achievements as:
<ul>
<li>Formed the national marketing fund so we could launch the incredibly successful ‘nobody does it better’ television campaign and launched community based marketing.</li>
<li>In 1994, despite strong opposition he commenced development of the LJ Hooker System (E2), and I know he’d be very proud of NextGen today. He was also the visionary behind the <a href="https://ljhooker.com/" target="_blank">ljhooker.com</a> website.</li>
<li>Under his leadership, in 1996 LJ Hooker acquired the Challenge Realty Group in New Zealand. They were re-branded to LJ Hooker in 1998.</li>
<li>In 1997 he launched LJ Hooker Commercial.</li>
<li>And, he created the Captains Club.</li>
</ul>
On October 2009 he was invited to join the LJ Hooker Limited board of directors retiring in May 2014. 
"I had the privilege of sitting with Grahame, affectionately known as 'Cookie', on the LJ Hooker Board for almost five years," LJ Hooker Chairman, L Janusz Hooker said today.
"When I asked him if he would like to join the Board to help revitalize LJ Hooker, after having retired as the group CEO five years prior, he didn't hesitate.  
"Yes, absolutely, was his answer.  
"Having earned his LJ Hooker stripes over a very long and successful career, he was a formidable force in the boardroom and was fearless in his mission to protect the brand and the extended LJ Hooker family.
"He sincerely loved the brand and everyone in it.  
"Grahame was blood and custard through and through and his legacy is the enduring strength of LJ Hooker and its family culture which we all enjoy today.  
"Grahame's passion and business acumen has been an inspiration to me and my family for generations. 
"On behalf of the LJ Hooker family, our thoughts are with his wife Lynne, his family and friends," he said.
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Vale LJ Hooker chief Grahame Cooke

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]

Joel Robinson

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.

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[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

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

Jonathan Chancellor

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