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A clearance rate of 67 per cent was recorded in Melbourne on the weekend compared to the revised 69 per cent last weekend and 67 per cent on the same weekend last year. There were 433 auctions reported to the REIV, the last Saturday in October.
The REIV had been expecting about 620 auctions in 262 suburbs.
The busiest auction locations were Reservoir with 19 auctions, followed by Glen Waverley and Keysborough with 10 auctions in each.
The scheduled 620 auctions ranked as the highest ever for any Melbourne Cup Day weekend and more than double the number of auctions held last year.
More than 5,000 auctions are scheduled for November and expected to be the biggest auction month of the year, the REIV chief Enzo Raimondo said.
TOP 5 HOUSES
1. 13 Boston Road, Balwyn $3,258,000 2. 406 &amp; 408 Riversdale Road, Hawthorn East $3,055,000 3. 11 Peel Street, Newport $1,960,000 4. 22 Dundee Avenue, Chadstone $1,890,000 5. 5 Valley Road, Mount Waverley $1,850,000
 TOP 5 BARGAIN HOUSES
1. 8 Orville Street, Coolaroo $283,000 2. 28 Koroit Avenue, Dallas $325,000 3. 19 Second Avenue, Craigieburn $335,000 4. 13 Myhaven Circuit, Carrum Downs $367,000 5. 15 Koonalda Grove, Dandenong North $380,000
TOP 5 APARTMENTS
1. 14 Teddington Road, Hampton $1,560,000 2. 2/2 Lindsay Street, Brighton $1,250,000 3. 1/7 Bebs Court, Templestowe $1,062,500 4. 2/3-5 Omar Street, Templestowe Lower $865,000 5. 2/635 Hampton Street, Brighton $865,000 TOP 5 BARGAIN APARTMENTS
1. 13/12 Schofield Street, Essendon $285,000 2. 11 Johnson Street, Moonee Ponds $293,500 3. 1/9 Asquith Street, Reservoir $303,000 4. 10/61 Wests Road, Maribyrnong $330,000 5. 7/108 Murrumbeena Road, Murrumbeena $333,500
Source <a href="/news">REIV</a>
 
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jchancellor-FAypfDUnLy

Melbourne auction clearance rate slips into high 60s: REIV

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Sydney’s auction market continues to weaken in spring 2015.
Yesterday's initial Sydney-wide headline clearance rate eased to 63 percent, down on the 64 percent preliminary tally from last Saturday, October 24.
But that preliminary Saturday night result has since been revised to 56 percent after tardy result notifications to Australian Property Monitors.
The revised rate is always lower but with the higher stock listings the further into spring, it appears estate agents are even slower at handing over their passed in results. 
The October 24 weekend saw Sydney-wide clearance rate ease to 64 percent, down on the 65 percent preliminary tally from last Saturday, which was then revised to 60 percent after late result notifications.
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<div>Yesterday's 1000 plus offerings on Saturday October 31 was be the busiest ever conducted on a spring day in Sydney - just below the pre-Easter weekend record in this year.</div>
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Sydney’s inner west suburban region hosted the most number of auctions with 168, followed by the upper north shore 162, the south 137, the city and east 130, the northern beaches 91, the lower north 90, Canterbury Bankstown 72, the west 71, the south-west 69, the north-west 52, the central coast 31 and the Blue Mountains with just one auction scheduled.
Significantly the inner west clearance rate remains with 80% plus success numbers, along with the east, so the rout is not Sydney wide. 
The most popular suburbs for auctions in Sydney were Mosman, Ryde and Killara each with 13 followed by Epping and Manly, each with 12, and St Ives and Paddington with 11 auctions listed at the weekend.
Dr Andrew Wilson from APM forecasted last week the headline Saturday night Sydney number was set to see clearance rates below 60 per cent this spring, "a remarkable outcome considering the rate tracked at near 90 per cent over May – just five months ago."
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Sydney's auction success rate actually down into the 50s with bumper stock

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Sydney's auction success rates may be decreasing however private treaty listings are still selling at near record speed.
Houses across Sydney are typically finding buyers after 27 days of their listing on real estate websites and shop front window displays.
That's just one day slower than the 26 day record set in July this year, according to CoreLogic RP Data. 
Non-auction Sydney house listings were selling at 28 days this time two years ago.
Acacia Gardens, near Blacktown has been cosistently dubbed the fastest selling suburb, with agents securing sales at an average of just 15 days on market.
Sydney celebrity couple Kerryn Phelps and Jackie Stricker-Phelps easily bettered their own suburb rate of sale when selling their weekender in Bundeena within 19 days of listing earlier this week.
"It was a unique beachfront location,' selling agent Debbie Donnelley at Phillips Pantzer Donnelly who secured above the $3.3 million price guidance. 
Private treaty sales in the southern Sydney beach suburb typically take 100 days before sale, according to CoreLogic RP Data.
While other capital cities have narrowed the gap, only Canberra comes close to the speed at which Sydney is selling.
Canberra houses are selling at 28 days with Melbourne the next fastest at 31 days. Darwin is the slowest at 99 days before vendors find their buyer.
Ofcourse over summer agents start struggling to sell surplus stock at spring time speed with the rates set to sell down to around 50 days. 
The biggest change in the Sydney property market over recent months has been the auction clearance rate.
The rate at the end of September 2013 was at a high 88.4%, however now stood last Saturday at around 64 per cent.
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Across Sydney over the past seven days there were 1,024 auctions with a clearance rate of 61.3 per cent, far from the strength seen earlier this year when there were 22 consecutive weeks at 80 per cent or above.
There are 1,450 Sydney homes scheduled for auction over the coming seven days, more than at the same time last year when there were around 1,259 offerngs.
It is the highest number of weekly auctions scheduled since March this year, CoreLogic RP Data advised. 
The most popular suburbs for auction this week are Bellevue Hill (18); Paddington (16), Coogee (15), Killara (15) and St Ives (15).
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Sydney's swift private treaty market despite auction clearance rate slump 

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A Newport beachfront house at 7 Myola Road is a spectacular fusion of timber, copper, bronze, steel and concrete.
It was created by the <a href="https://www.realestate.com.au/property-house-nsw-newport-120892005" target="_blank">local architect Peter Stutchbury</a> about a decade ago for the businesswoman Eriko Kinoshita, who co-founded Yoga Aid International.
Stutchbury's three bedroom, three bathroom property replace the one she had lived in with her family since 1992.
The property comes with lap pool surrounded by award-winning Japanese gardens.
Agent Glenn Lee, of Raine and Horne Palm Beach, expects around $11 million.
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Peter Stuchbury-designed Myola Road, Newport offering

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Atherstone, the five bedroom Brisbane home of former Queensland premier Peter Beattie and his wife Heather has been listed for sale.
The downsizing couple have lived at their Wiltston hilltop Queenslander home, in Brisbane’s inner north, for 22 years. 
Peter Beattie was Queensland premier from 1998 to 2007. 
They are off to an apartment on the Brisbane River at Newstead.
Marketing agent Peter Taudevin said he was thrilled to be involved in selling the 1920s home which he describes as a “slice of Queensland history”. 
Offers close on <a href="https://www.realestate.com.au/property-house-qld-wilston-121132382" target="_blank">49 Dalrymple Street</a> November 27, unless sold prior.
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Former Queensland Premier Peter Beattie lists Brisbane Queenslander

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GUEST OBSERVER
Woolworths shareholders have had a torrid couple of years. The company’s market capitalisation is down around a third since mid-2014 – quite a hit for a company once worth almost A$50 billion dollars. Today it forecast a 35% fall in half-year profit, sending its shares plunging by more than 9%.
The disastrous Masters foray is partly to blame. Conceived in oligopolitical hubris, Masters has been an unmitigated disaster for Woolworths shareholders. They were right to expect far better from the company’s exceedingly well-remunerated board and senior executives. The fact that Masters has ended quite a few careers is cold comfort for shareholders who have lost hard earned savings and superannuation.
Today’s results open a new chapter of woe. Once, Masters was seen as an unfortunate sideshow, able to be separated from the Goliathan strength of Woolies’ grocery cash machine. Today, the illusory nature of that misapprehension has emerged – with sales in decline year-on-year for like stores, and a flagged collapse of earnings by up to a third and, most tellingly, no end in sight.
While the problems of the last 18 months at Woolworths have often been ascribed to the Masters debacle, analysts have long been worried about the main game in groceries. Aldi, the privately-held German multinational, has been playing a cautious and patient long game.
Aldi’s “value proposition” to consumers is starkly different to both Woolworths and Coles, and it’s clear Australians have warmed to what Aldi has to offer – a narrow range of good quality products at prices equivalent to the majors’ “specials”. The narrow range and small format stores have the additional benefit of quick and easy shopping for busy consumers. Woolworths has been losing market share quickly.
Its response has so far been too little and too late. Woolworths has tried to “shoehorn” an Aldi equivalent into the lower shelves of its large format stores. It suggests to consumers that they can get a basket of goods similar to Aldi’s at the same price within their stores if they look hard enough. In this regard – to paraphrase the late, great Z.Z. Hill - what Woolies are selling, Australians ain’t buying.
The limited success of this “Aldification” of Woolworths stores has, however, done damage to Woolworths' core business of groceries. Whenever consumers choose the low cost goods within Woolworths, it is at the expense of the higher margin goods they also have for sale. This is evidenced by the steep decline in margins reported today – with sales in slight decline (2.5%) and projected earnings in free fall (28 to 35%). Woolworths is learning the hard way that while revenues are easy to lose, the same can’t be said for the fixed costs involved in running a national retailer.
In the background, again, lies Masters. Its disastrous drain on revenues has meant Woolworths has had little to invest in new stores elsewhere. While Woolworths has opened six new stores during the quarter, Aldi has flagged the opening of up to 80 new stores during 2016, on top of the 80 it opened this year. Its expansion is uncannily like a German train timetable and its geographical spread means most of these new stores will not cannibalise existing sales – something Woolworths can rarely achieve.
John Rice is professor of management, University of New England and can be contacted <a href="https://theconversation.com/profiles/john-rice-93120" target="_blank">here</a>. Nigel Martin is lecturer, College of Business and Economics, Australian National University and can be contacted <a href="https://theconversation.com/profiles/nigel-martin-117971" target="_blank">here</a>.
Both are authors for The Conversation.
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The ‘Aldification’ of Woolworths is destroying its value

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GUEST OBSERVER
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The repeal of the Valuers Act 2003 which will see the deregulation of the valuing industry in NSW is cause for concern.
Minister for Innovation and Better Regulation Victor Dominello last week introduced a bill to repeal 30 laws including the Valuers Act 2003 which will see the deregulation of the valuing industry in NSW and will remove government controlled licences. 
If the government does not participate in the controls and oversight of the profession then the potential for detriment exists. 
We find it alarming that the government is on a constant campaign of delicensing. 
REINSW sees a role for the professional bodies working co-corporately with government for the oversight of compliance with the regulatory environment and the maintenance of professional standards.
While industry must be involved in the process of regulation, it alone should not be solely responsible. 
 
Malcolm Gunning is president of the Real Estate Institute of New South Wales and can be contacted <a href="https://www.reinsw.com.au/imis15_prod/">here</a>.
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Deregulation of valuing industry a concern: REINSW

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High rise residential developer Tim Gurner has bought two Hamilton, Brisbane riverfront sites for a $170 million development.
They take his Brisbane project pipeline to $1 billion plus.
The Melbourne developer secured 80 and 92 Kingsford Smith Drive for about $13 million, telling the Australian Financial Review they "present an incredible opportunity." 
He suggests the sites, located within three kilometres of the CBD, are of an iconic nature.
Elenberg Fraser is designing the new project which will include 280 luxury apartments.
Gurner's most recent purchase were two sites in Brisbane's Fortitude Valley.
His initial project FV has already seen around 1000 apartments worth $650 million sold. 
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Gurner snares Hamilton, Brisbane riverfront residential sites

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The popular Four In Hand in Paddington is the latest hotel to hit the market.
The owner of the past 25 years has decided to take advantage of the current red hot hotel sector which has seen the nearby Woollahra Hotel fetch $30 million plus.
The Royal Hotel in Paddington was also recently sold to the Waugh brothers' Public House Group for $15 million and the Light Brigade Hotel was bought by the Bayfield Family for $9 million.
In the past year, more than than $200 million of pubs assets have changed hands as pubs have returned to favour, particularly around the suburbs, to avoid the new late-night lockout drinking rules imposed on the city and some fringe areas.
The Four In Hand has been <a href="https://raywhitehotels.com.au/properties/the-four-in-hand-hotel/" target="_blank">listed through Ray White Hotels Asia-Pacific director Andrew Jolliffe</a>.
"The 4, as it is affectionately known, is an institution in the Sydney pub landscape," Mr Jolliffe said.
"Melbourne has a number of these great food and beverage icons like the Four in Hand, however, unfortunately they are few and far between in Sydney. That's why this is such a special hotel."
It had over $4.75 million in total sales in FY2015.
The 375 sq m corner holding had a recent $1 million renovation.
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Four In Hand, Paddington hotel for sale

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GUEST OBSERVER
The Consumer Price Index – the main measure of inflation in Australia – rose by 0.5% in the September quarter, below expectations. In seasonally adjusted terms the CPI rose by 0.5%. The annual rate of inflation held steady at 1.5%.
The Reserve Bank monitors three measures to derive the underlying inflation rate. The trimmed mean rose by 0.3% in the September quarter (2.1% annual); the weighted median rose by 0.3% (2.2% annual) and the CPI less volatile items rose by 0.5% (2.1% annual). Overall, underlying inflation rose by 0.4% in the quarter and by 2.1% over the year.
New home sales ease: New home sales fell by 0.4% in July. Sales of multi-units fell by 4.2% while detached house sales rose by 0.7%.
<a href="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%209.59.59%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%209.59.59%20AM.png" alt="">
What does it all mean?
Inflation remains healthy without being excessive. In fact the economic environment in Australia is far different from some other parts of the globe. The euro zone continues to worry about the deflationary threat from sluggish growth, while in the US inflation remains below the Fed’s target rate. But here in Australia underlying inflation is holding at the low end of the Reserve Bank’s target 2-3%.
It is pretty clear that inflation is not a threat to the domestic economy, meaning that the Reserve Bank can comfortably keep interest rates at exceptionally low levels over the medium term. Domestic inflationary pressures remain well contained and given the slow growth in wages it is unlikely to result in a change to the domestic inflation landscape.
The headline inflation measure rose by a less-than-expected 0.7% in the June quarter. Even the underlying measures were on the weaker side, with the annual growth rates at the low end of the Reserve Bank’s 2-3% target band. The average of the three key underlying inflation measures lifted by 0.5% in the quarter to be up 2.2% over the year.
Interestingly the ongoing slide in the Aussie dollar is starting to have an impact on the on lifting imported inflation. The tradeable component of the CPI result rose by 1.2% in the June quarter. The substantial rally in oil prices over the June quarter was the main driver of the result. In fact the 12% surge in the price of petrol marked the largest increase in 25 years and the main contributor to the inflation result. Whichever way you cut it, inflation is not a threat to the economy.
The Reserve Bank can comfortably ignore inflation and discuss merits of another interest rate cut on the economy if needed. But as the Reserve Bank Governor highlighted in his speech today, further rate cuts could be dangerous. It is clear that policymakers will focus more attention on the labour market, shifts in the Aussie dollar and retail activity in coming months. The Governors comments strengthened CommSec view that the Reserve Bank will keep rates on hold over the rest of 2015.
What do the figures show? 
Consumer Price Index
The All Groups Consumer Price Index (CPI) rose by 0.8% in seasonally adjusted terms in the June quarter. In original terms the CPI index rose by 0.7% in the June quarter. The annual rate of inflation rose from 1.3% in the March quarter to 1.5% in the June quarter.
Underlying measures of inflation were marginally higher than forecasts in the March quarter. The trimmed mean measure rose by 0.6% in the quarter, to be up 2.2% over the year. The weighted median measure rose by 0.5% in the quarter with the annual rate at 2.4%. The CPI less volatile items rose by 0.4% in the quarter to be up 2.0% over the year.
The Bureau of Statistics noted: “The most significant price rises this quarter were for are automotive fuel (+12.2%), medical and hospital services (+4.5%) and new dwelling purchase by owner–occupiers (+1.5%). These rises were partially offset by falls, for domestic holiday travel and accommodation (–5.4%) and pharmaceutical products (–1.8%).”
Prices of tradables rose by 1.2% in the June quarter, with higher prices for automotive fuel. The most significant offsetting fall in the tradable goods component was for pharmaceutical products and vegetables. The tradables component fell by 0.3% over the year to June.
Prices of non-tradables rose by 0.5% in the June quarter. Price increases were recorded for new dwelling purchase by owner-occupiers. The most significant offsetting fall was for electricity. The annual rate of non-tradables inflation rose by 2.6% in the year to June. Tradable goods are those items whose prices are largely determined on the world market. Non-tradable prices are more affected by domestic economic conditions.
New home sales
New home sales fell by 0.4% in July. Sales of multi-units fell by 4.2% while detached house sales rose by 0.7%.
The Housing Industry Association reported: “In the month of July 2015 detached house sales increased by 4.2% in New South Wales. Detached house sales fell by 2.3% in Victoria and by 4.9% in Western Australia. Sales were close to flat for the month in Queensland (-0.6%) and South Australia (-0.2%).”
“The annual peak for detached house sales has passed. Over the three months to July this year detached house sales fell by 2.8% to be 3.4% lower when compared to the three months to July 2014.”
“‘Multi-unit’ sales peaked in May this year and fell by 4.2% in July following a decline of 2.9% in June. Over the three months to July this year multi-unit sales increased by 8.3%, but it was the strength of the May result that drove the quarterly outcome.”
Why is the data important?
The Consumer Price Index (CPI) is regarded as Australia’s premier measure of inflation. The CPI is published quarterly and measures price changes for a ‘basket’ of goods and services that dominate expenditure of metropolitan households. The “All Groups” index is the main focus, but other inflation measures are also published such as so-called ‘underlying’ measures. These include measures that abstract from price changes in volatile price items such as fresh food and petrol.
The Reserve Bank aims to keep the headline inflation rate between 2-3% over an economic cycle. If inflation is high and expected to rise, the Reserve Bank may elect to raise interest rates in order to constrain price pressures. Conversely, if inflation is low and expected to remain low, the Reserve Bank may elect to cut interest rates if it believes the growth pace of the economy is in need of strengthening.
 
The Housing Industry Association releases data on the sales of new homes each month. The HIA collects the data each month from a sample of Australia's largest 100 home builders. The survey covers around 14% of the home building industry
What are the implications?
At present inflation is very much under control and not a threat to a movement in interest rates in either direction. We believe the Reserve Bank will be reluctant to cut interest rates again unless a left field event occurs.
 
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>. 
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Low inflation raises chance of rate cut: CommSec's Savanth Sebastian

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

Joel Robinson

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

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

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

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

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

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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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.

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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.

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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.”

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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]

Jonathan Chancellor

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