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GUEST OBSERVER
September’s 1.6% fall in total housing-related lending was driven by a big fall in lending to investors partially offset by an increase in lending to owner-occupiers (O-Os).
 The ABS housing finance publication contains a glut of information on lending for housing-related purposes. We trawl through the key figures below: 
O-Os: There has been solid growth in lending to O-Os over the past year and this continued in September. By value lending is up a sizeable 23.1% through the year and by number it’s up 8.4%. A material increase in the average loan size largely explains the difference between lending by value and by number. In September the average new loan size for an O-O was a record $379k – up 18.0% through the year. In NSW the average new loan size for an O-O was 449k while it was $379k in Victoria. Record low mortgage rates have helped contribute to a lift in average loan size because the capacity to borrow rises when borrowing costs fall. 
Investors: In the last few months lending to investors has cooled quite sharply following exceptional growth for much of the past two years. There is now plenty of evidence that indicates measures introduced by a number of banks to slow investor-related lending are having an impact. In addition, a slow decline in rental yields due to strong dwelling price appreciation is acting as a natural restraint on lending growth to investors. We expect this trend to continue over coming months in line with cooling auction clearance rates.
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Construction: Total lending for dwelling-related construction was flat in September and has eased off in recent months. This is consistent with the recent tapering off in building approvals growth. The lag between finance/approvals and construction means that residential construction will remain buoyant deep into 2016. Dwelling construction generates jobs and the multiplier effect benefits other sectors of the economy. A further positive for construction was that lending for alts and adds rose by a solid 6.4% and sits 14.9% higher on year ago levels. 
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States: The data on O-Os by State in September shows that annual growth in the number of loans is strongest in NSW (+20.4%), followed by Victoria (+10.1%) and SA (+8.7%). It is negative in QLD (-0.4%), WA (-6.2%), and Tasmania (-11.0%). 
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An update on lending to investors by State will be in Friday’s Lending Finance publication. 
First home buyers: The number of loans to first home buyers rose by 6.2% in September. First home buyers represent just 15.4% of all dwellings financed – close to record lows.
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All up, today’s data print is consistent with other indicators of the housing market which show that activity is moderating. Policymakers are likely to welcome the latest slowdown in housing credit growth particularly given business credit growth has picked up. The different parts of the credit space are evolving in the directions that policymaker’s desire. 
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Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Housing lending growth slows as investor appetite wanes: CBA's Gareth Aird

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<div class="column">Housing finance commitments fell in September, driven by a sharp drop in investor lending. </div>
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While today’s report also showed an increase in upgrader lending, the impact of the changes to investor lending standards in recent months is clearly net negative for housing market sales activity and housing construction. Slower auction market sales, weaker house price growth and higher mortgage rates in recent weeks point to a soft housing market outlook in 2016.
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 Investor finance fell a sharp 8.5% m/m in September, and has now fallen for five consecutive months (Figure 1). APRA will be satisfied that their measures are indeed having the desired effect of slowing annual investor credit growth down towards sub-10%. However, the sharp loss in housing market momentum in recent months presents a soft outlook, not just for house price growth and mortgage lending, but also for the contribution to economic growth from housing. 
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<div class="column">Slower price growth and higher mortgage rates in recent weeks are expected to weigh on planned housing construction (Figure 1) and provide less of a boost to consumer confidence and retail spending.</div>
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 In contrast to weaker investor finance, owner-occupier mortgage lending increased 1.7% m/m (excluding refinance) in September. While growth in owner-occupier lending has offset weaker investor finance in recent months, today’s net negative impact is likely to continue in the coming months as the combined impact of slower house price growth, the recent increases in mortgage lending rates and weak household income growth provide a headwind to owner-occupier sales. 
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David Cannington is senior economist, ANZ Research and can be contacted <a href="https://www.anz.com/corporate/research/" target="_blank">here</a>.
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Australian mortgage lending confirms soft housing market outlook: ANZ Research

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Some 125 foreign investors have taken up an amnesty from the Australian Tax Office to declare their unauthorised ownership of real estate in Australia, according to documents obtained by Guardian Australia under a freedom of information request by the website.
The 125 investors have declared their status ahead of the FIRB deadline expiring on 30 November, the documents show.
A spokeswoman for the ATO repeated it had separately identified about 500 potential breaches of foreign investment laws it was investigating, a number of them from these disclosures.
Breaches of Australia’s foreign property investment laws prompted former Treasurer Joe Hockey to announce in September five forced sales of properties purchased by overseas buyers.
The former Treasurer then said 500 FIRB investigations are underway into more than $1 billion worth of residential real estate.
Tax commissioner Chris Jordan announced the investigations at a press conference with Joe Hockey.
They advised the properties to be sold are in Labrador on the Gold Coast, Ardross in Perth, <a href="/news/inside-darnley-hall-joe-hockeys-latest-forced-firb-trophy-sydney-divestiture-home">Sydney’s Elizabeth Bay</a>, Underdale in Adelaide and the Brisbane suburb of Stretton.
They were acquired unlawfully by foreign nationals from Singapore, Indonesia, the UK and China.
They voluntarily came forward under the amnesty announced in May.
The highest purchase price was $8.1 million, understood to be a penthouse in Elizabeth Bay.
The cheapest was a $265,000 property.
They have 12 months to sell the properties under the amnesty that ends of November, Joe Hockey said.
 
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Some 125 foreigners dob themselves in under ATO FIRB amnesty

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A record $30 million plus has been paid for Leura, the Bellevue Hill trophy home.
The businessman Ken Allen and his wife, Christine sold at an undisclosed price to an Australian Chinese buyer the day before its scheduled private auction.
The home was listed in August by Michael Finger and Diane Wilson of Ray White Double Bay.
One of Sydney's finest estates, the 1891 Bellevue Hill mansion has just had the six owners through its 125 years.
It was built on the Bellevue Hill ridge line for the Knox family, of the then burgeoning Colonial Sugar Refinery empire. 
The Federation Queen Anne style home dates back to the 1890s when built for Tom Knox, managing director of the Dalgety stock and station agency.
It last traded through Michael Finger in 1986 for a then very impressive $7.3 million when sold by the top end home restorer Bill Shipton and Zaro Elizov, who'd engaged building designer, Roderick Learoyd, trained at the Oxford School of Architecture, to assist in its renaissance. Mark Bouris helped in its financing.
The calendar company patriarch Ken Allen and his wife, Christine, have homes in New Zealand and London.
The eight bedroom, eight bathroom heritage home sits on a 4260 sqm block with tennis court and a swimming pool. It does now need renovations which limited some buying interest. 
It tops the $28 million suburb record set in 2013 when property developer Bob Ell bought Addenbrooke.
Leura has been <a href="/news/leura-the-trophy-home-bellevue-hill-spring-2015-offering">the spring of 2015's top listing</a> and now sale. Underbidders were advised they needed to quickly match the pre-auction offer which was not subject to FIRB approval.
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Leura, Bellevue Hill trophy sold

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Migration is a key factor to the ongoing strength of Sydney's housing market and especially the rising demand for high rise apartments.
Most of the forecast growth in household numbers in Sydney is attributable to migration.
With forecast net overseas migration (NOM) of 240,000 per annum over the decade to 2022, the total number of households in Sydney will grow by 309,000. However, if NOM is nil, the local population growth in households in Sydney over the decade is estimated at 110,000.
The reason why migration is such a major contributor to household growth, especially in the young age cohorts, is that Sydney is the main settlement location for the recent surge in migrants holding temporary visas, mainly students, but also working holiday migrants, 457 visa holders and visitors.
This has not necessarily been a revolving door as thousands stay on by switching to other temporary visas or gaining permanent residence through sponsorship by employers and by marriage.
Currently Sydney is receiving some 28 per cent of Australia’s migrant intake - more than its proportional share by comparison as Sydney makes up 20 per cent of Australia’s current population.
Youthful migration is especially high as in 2013-14 around 16 per cent of the net inflow of movers to Australia were aged 15-19 and 23 per cent were aged between 20-24.
By comparison, only 6.3 and 7.0 per cent respectively of Australia’s population are in those two age groups.
The housing patterns of recently arrived migrants is highly diverse — but most disperse to live with a resident whether Australian-born or former migrant.
Only a minority of the recent migrants live in migrant only households, according to a recent report by academics Bob Birrell and David McCloskey from the Australian Population Research Institute. 
Mostly in apartments, as significantly only 30 per cent of the migrants who arrived in Australia between 2006 and 2011 were living a separate house, compared with 71 per cent of the Australian-born persons living in Sydney.
The report suggested massive numbers of migrants live in tiny apartments totally unsuitable for raising a family.
"They are tiny because developers selling into overseas markets need to keep prices below $600,000."
As migrants extend their stay to between six and ten years (those arriving 2001 to 2005) the report noted the numbers living in separate houses had increased slightly.
The outcomes for Sydney, by comparison with Melbourne and the rest of Australia, are striking, the report suggested.
Just 44 per cent of these migrant-only households who arrived over the years 2001 to 2005 were living in a separate house in Sydney, compared with 65 per cent in Melbourne and 75 per cent for those living elsewhere in Australia.
Since many of the new migrant households will begin raising a family during the decade to 2022, they are forecast to will generate the need an additional 57,000 separate houses in Sydney.
But the report suggests the capacity of migrants to afford separate houses will continue at very low levels. 
Furthermore Sydney's chronic low numbers of building approvals for detached dwellings – just 10,920 annually - would ensure competition for detached housing in the inner and middle suburbs was likely to intensify as young households look to switch away from apartments.
But these young migrant families will be forced to pursue their dream ever further towards the periphery of Sydney and perhaps beyond. And once there will have to make do with a semi-detached dwelling, rather than a detached house.
This article was first published in the Saturday Daily Telegraph.
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Migrants make an important mix in Sydney apartment market

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Federal Labor has revealed it will oppose tighter vetting of Asian investment in Australian farms and agribusinesses which set the threshold for referral to the Foreign Investment Review Board at just $15 million in the case of proposed acquisitions of agricultural land.
Senator Penny Wong has challenged Prime Minister Malcolm Turnbull to overturn the foreign investment crackdown advocated during Tony Abbott's tenure.
Labor has proposed amendments to government legislation to ease the scrutiny for Chinese, Korean and Japanese investors in farming land by lifting the government's proposed $15 million threshold to $50 million.
The $50 million level would match Thai and Singaporean investments under the free-trade agreements negotiated during the Howard government.
The current FIRB limit sits at $252 million before FIRB approval is needed.
There is a $1 billion threshold that American, Kiwi and Chilean investors have under their free-trade agreements with Australia.
Senator Wong suggested the bill currently before Parliament would send the message that Australia was not an enthusiastic destination for foreign capital.
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FIRB farm approval threshold being debated by Labor's Penny Wong

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Saturday's initial Sydney-wide clearance rate fell to 59%, down on the 63% preliminary tally from last Saturday, which was revised to 58% after late result notifications to Australian Property Monitors.
“The market has crashed below 60 per cent with no sign of bottoming out,” the rather excitable Domain Group senior economist Dr Andrew Wilson told Domain after Saturday night headline initial clearance rates dropped below 60 per cent for the first time in three years.
He noted most capital city housing markets continue to weaken with auction clearance rates in Sydney now well down on the record high rates of autumn and the Melbourne auction market also notably fading. House price growth rates in Melbourne and Sydney fell sharply over the September quarter and will likely follow auction clearance rates downwards for the remainder of the year.
The top sale was a six-bedroom residence at 1 Elfrida Street, Mosman, for $5,375,000 through Simeon Manners who withdrew another Mosman offering due to lack of buyer interest. Selling agent Richard Simeon told the Sunday Telegraph the Elfrida Street vendors had actually raised their reserve price prior to auction. The marketing price campaign was pitched as selling in the "mid $5 millions." It traded at $3.7 million in 2004.
There were 1011 auctions scheduled for Saturday and with 652 results reported and 112 withdrawn. The number of Saturday night unreported sales increases dramatically whenever the market numbers jump and the market softens.
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Sydney auction success rate slumps into the 50s: APM

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There were 953 auctions reported to the REIV on the weekend, with a clearance rate of 71% compared to 68% last weekend and 64% the same weekend last year.
The cheapest weekend sale was a <a href="https://www.realestateview.com.au/Real-Estate/7-72-princes-street-flemington/Property-Details-buy-residential-8613316" target="_blank">$250,000 one bedroom apartment in Flemington</a>. It was marketed with conservative $200,000 to $220,000 price guidance through Nathan Robinson at Brad Teal Real Estate.
It last sold at $196,000 in 2005. It had been listed earlier this year with private treaty $270,000 to $290,000 hopes unsuccessfully.
It was last available for rent in 2013 at a $250 a week asking rental.
Sales of other one bedrooms in the Princes Street block hit $306,000 in 2009, with courtyard. The most recent sale was $295,000 in 2013.
The dearest reported sale was in Box Hill.
 
TOP 5 HOUSES
1. 105 Carrington Road, Box Hill $3,630,000 2. 22 North Road, Brighton $3,160,000 3. 75 Gordon Street, Balwyn $2,870,000 4. 2 Bamfield Close, Templestowe $2,800,000 5. 8 Lurnea Road, Glen Iris $2,675,000 TOP 5 BARGAIN HOUSES
1. 27 Candlebark Crescent, Frankston North $305,000 2. 30 Coleman Crescent, Rosebud West $325,000 3. 61 Banbury Crescent, Craigieburn $335,000 4. 44 Baystone Road, Epping $345,000 5. 1 Selby Street, Dallas $350,000
TOP 5 APARTMENTS
1. 38 Through Road, Camberwell $1,542,000 2. 1B Robert Street, Elwood $1,450,000 3. 1/12 Arkaringa Crescent, Black Rock $1,350,000 4. 101B Oakleigh Road, Carnegie $1,256,000 5. 19B Acacia Avenue, Mentone $1,235,000 TOP 5 BARGAIN APARTMENTS
1. 7/72 Princes Street, Flemington $250,000 2. 2/115 Eskdale Road, Caulfield North $272,000 3. 3/24 Jones Road, Dandenong $300,000 4. 8/201 Blyth Street, Brunswick East $310,300 5. 6/307 Riversdale Road, Hawthorn East $332,500
Source <a href="/news">REIV</a>
 
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Flemington one bedder comes in as Melbourne's cheapest: REIV

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The recently appointed AMP director, Holly Kramer and her husband, the former Canterbury Bulldogs chief Malcolm Noad turned gentleman farmer, sold their five bedroom Pymble home ahead of a scheduled weekend auction. 
The deal was secured late on Melbourne Cup day.
Scott Chadwick, of Chadwick Real Estate, was hoping to get close to $4 million for <a href="https://www.realestateview.com.au/Real-Estate/35-telegraph-road-pymble/Property-Details-buy-residential-9681510" target="_blank">the five bedroom Telegraph Road property</a> which cost $3.1 million in 2010 when she was at Pacific Brands.
The couple plan to spend more time in the Southern Highlands where they have a 40 hectare cattle farm at Paddys River which runs 38 head of cattle. 
The couple who wed at Milton Park in 2003 met when she was Ford's marketing manager and he was group general manager of News Ltd.
This article was first published in the Saturday Daily Telegraph.
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Former Canterbury Bulldogs chief Malcolm Noad sells in Pymble

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Wongawilli, the contemporary tin-clad Kangaloon weekender of architect Peter Stronach and interior designer Tim Allison, has sold.
It had been relisted through Ian Rayner Real Estate and Bob Guth at Bradfield Cleary who was seeking $1.8 million plus for the striking barn-like two-storey residence.
It sits on a 15 hectare parcel of land in Trig Station Lane, one of the most elevated precincts of the NSW Southern Highlands.
Designed by Stronach and then furnished by Tim Allison Associates, the three bedroom Wongawilli will be a weekender for a Mosman family.
Peter Stronach, principal at Allen Jack+Cottier, nears a 50 year career as an architect, with his numerous landmark design projects including Apple Headquarters in Frenchs Forest. 
The house won gold at NSW’s 2002 Green Building Awards given supremely low energy running costs of around just $500 a year with radical space-age insulation Astro-foil borrowed from NASA space suit technology sandwiched between the cladding and core.. 
“Our off-peak electricity, radiant solar heat and wood fired heater costs just $10 a week,” Stronach once boasted suggesting neighbouring properties were typically running up heating, cooling and lighting bills of more than $300 a week.
This article was first published in the Sunday Telegraph.
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Wongawilli sold by Peter Stronach

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.

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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."

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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.

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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.

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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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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."

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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.

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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.

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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.

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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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