<html><body>
Non-bank lender Firstmac has indicated its reluctance to be involved in the funding of “vertically integrated” development schemes.
“What we are targeting is vertically integrated groups that have the same builder, lender, solicitor and marketing outset," Firstmac chief financial officer James Austin told Australian Broker. “I call them vertically integrated groups because they are one consortium who are developing the property and who own and are selling the property.
"They are using the same solicitors and then are marketing the properties offshore.
"So it is this concentration which is quite a high risk form of lending. 
"Therefore [Firstmac] have decided to pull out of that business.”
Austin noted it just happens that it is commonly overseas Chinese investors who are attracted to these sorts of schemes. “As we saw some of these types of loans coming into our pipeline, we sent a note out to our brokers saying that we would not do this type of business.
"It just so happened that the particular example we had at the time involved Chinese investors.
"But it is not the nationality or the borrower we are targeting – it is often the offshore resident which is susceptible to this marketing scheme and form –it is that type of vertically integrated type of operation.” According to Austin, these types of loans are higher risk due to concentration and conflict of interest, particularly in off-the-plan developments. “First of all you are getting concentrations in one area.
"You’ve got borrowers from overseas who are going to be less familiar with the true values of these properties. 
"In addition, when you’ve got this sort of integration going on, you’ve also got a conflict of interest where all the parties are working to one outcome – which is to build and sell properties. “I think the market is quite volatile right now given all the changes and development going on and I just think that off-the-plan is potentially a very problematic area.  “With funding being restricted across the industry, to investment particularly, I think that off-the-plan could become a very dangerous area.
"I think that there is a lot of development going on – both in Melbourne and in Brisbane – and I think that when they come to deliver it may be not a good place to be,” Austin told Australian Broker.
</body></html>

jchancellor-FAypfDUnLy

Off the plan dangers sees Firstmac avoid highest risk Melbourne and Brisbane projects

<html><body><div class="page" title="Page 13">
<div class="section">
<div class="layoutArea">
<div class="column">
Gosford vendors lost $6 million plus in recent property resales, with Warringah district ranking next as Sydney's biggest loss making locations, according to the recent CoreLogic RP Data Pain &amp; Gain report.
Only 2.0% of homes resold in Sydney over the second quarter of 2015 sold at a loss, down from 2.4% over the first quarter and also lower than a year earlier (2.7%).
The Burwood, Hunters Hill, Willoughby and Wollondilly council areas each recorded no resales at a loss over the quarter.
The Mosman (7.5%), Gosford (4.1%) and Pittwater (4.0%) council areas each recorded the highest proportions of loss-making resales throughout Sydney over the quarter. 
The median loss in Mosman was $67,000.
<a href="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%202.57.05%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%202.57.05%20PM.png" alt="">
</div>
</div>
</div>
</div></body></html>

Gosford tops loss taking, with Warringah, Pittwater and Mosman troubled: CoreLogic RP Data Pain & Gain report

<html><body>
One of Richmond’s largest residential properties, Araluen, at 207 Lennox Street, has been sold for $5.13 million.
Araluen last sold in 1958 when bought by the Ballerini family. <a href="https://www.realestateview.com.au/Real-Estate/207-lennox-street-richmond/Property-Details-sold-residential-8634864">The five bedroom 1856 home</a> had been listed through Abercromby's agents Jock Langley and Hugh Hardy. 
It is one of Richmond’s earliest homes sitting on a substantial 1478 square metres on the corner of Goodwood Street, about a kilometre from the CBD.
Title Tattle gleans it has been bought by Scott and Julia McKay, descendants of the industrialist inventor of the Sunshine Harvester.
The comedic radio broadcaster Hamish Blake and wife Zoe Foster Blake, the author wife, had held the previous record $4.25 million in Richmond for a home (below) featured on <a href="https://www.propertyobserver.com.au/https://www.completehome.com.au/articles/grand-designs-australia-richmond-inner-city-house/36365">Grand Designs Australia in 2013</a>. 
The three-bedroom, four-bathroom Richmond house was designed by neilarchitecture for Darren and Ruth Rogers.
<img class="js-first-image" src="https://b.domainstatic.com.au/w800-h534-8733637_1_pi_150319_100547" alt="79a rowena parade richmond VIC 3121" style="line-height: 1.3em;">
They built the home on a block bought in 2009 for $920,000 with the works cost estimated at $3.3 million.
</body></html>

Richmond's 1856 Araluen harvests $5.1 million record price

<html><body>
Art dealer Shirley Wagner is selling her longtime Paddington gallery terrace for November 23 auction.
Regarded as one of the matriarchs of the Australian art scene, she has fostered and managed the careers of many great artists since the 1960s.
<a href="https://www.propertyobserver.com.au/https://www.lsbondibeach.com.au/property/0000280751" target="_blank">The 39 Gurner Street gallery</a> was established in 1978 after a 14 year stint as the Barefoot Art Gallery, Avalon Beach.
Bart Doff at Laing &amp; Simmons Double Bay has the trophy corner terrace offering. It last sold at $85,000 in 1977.
Through the years Shirley has represented big-time artists including Arthur Boyd, Sir Sidney Nolan and Charles Blackman, as well as bringing many great international artists to Sydney, including Andy Warhol and Roy Lichtenstein.
Too many to list, though Pro Hart was one of her enduring show highlights.
Not only did Shirley exhibit their paintings in Paddington but across the globe, her most memorable in Egypt and Israel. 
That exhibition made Australia the first country in the world to do a cultural exchange between Egypt and Israel in honour of the signing of the 1980 peace treaty between Sadat and Begin.
Although Shirley has retired from daily work at the gallery, her daughter Nadine took up the baton of her mother’s legacy. 
But after a lengthy stellar career Shirley, now 83, has decided it is time to sell.
</body></html>

Paddington's Wagner Gallery listed for November auction

<html><body>
The Fleming grocery family matriarch, Lois Fleming has emerged as the $2.75 million buyer of the snappily sold Rockwall Gardens, Potts Point apartment sold by the professional renovators, Warren Sonin and and Gavin Atkins.
The renovation duo known as Gav and Waz after their 2003 Block Bondi renovation debut had paid $2.25 million for the garden apartment with two bedrooms, two bathrooms and a car space. There were still trademark Deece Giles interiors since the boys bought from the renown Sydney architect for $2.25 million early last year.
Now surrounded by greenery, the total floor space, inside and out, is 180 square metres. It comes with outdoor fireplace by Rolling Stone Landscapes, gold medal winners at the prestigious Chelsea Flower Show.
Fleming recently sold her Darling Point apartment for $8.5 million through Raine &amp; Horne agents Max Spartalis and Aaron Fleming, her grandson.
She was married to Jim "The Grocer" Fleming from 1955 to 1982 with the racing industry couple having three sons, Lee, Dean and Paul. 
As a model Lois Wherrett was best known for her quintessential 1954 Max Dupain photograph with Hugin sewing machine in a Sydney street.
Her Ken Woolley-designed The Point Villas apartment was bought new in 2002 for $5,375,000 from developers Bill Shipton and Mark Bouris. 
Gav and Waz were the underbidders this week when the Point Piper-bound Sotheby’s Australia chairman Geoffrey Smith and his partner Gary Singer auctioned their Ashleigh, Elizabeth Bay apartment, pictured above.
<a href="https://sydneysothebysrealty.com/5309543/15-104-Elizabeth-Bay-Road-Elizabeth-Bay" target="_blank">The three bedroom 118 internal sqm apartment</a>, bought for $1.75 million in 2009, fetched $2.2 million through Harriet France at Sydney Sotheby’s.
I'd suggest their artwork - two very good Sidney Nolans, including one from the Burke and Wills series, along with the Albert Tuckers, and the Akia Makagawa and Robert Klippel sculptures - could fetch as much again were they to be sold, but they are staying and upsizing in Sydney.
This article was first published in the Saturday Daily Telegraph.
</body></html>

Gav and Waz renting after sale to Fleming family

<html><body>
An investment property leased to McDonald’s has come to the market at Norlane at North Geelong.
400 Melbourne Road is available for purchase with an expected price of just over $2,000,000.
“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” explained Raoul Holderhead, managing director of Burgess Rawson.
“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” Mr Holderhead added.
The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.
<a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The site 3,277 sqm </a>with 48 onsite car spaces is almost double that of a normal fast food outlet.
"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.
The site has been a McDonalds since 1980.
Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.
The tenant pays all usual outgoings including land tax.
Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrates its 100th auction this October.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.
For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
 
</body></html>

One with the lot - McDonald's Geelong listed for October auction with $2 million plus expectations

<html><body>
The Woolworths supermarket at Dural is up for auction through Burgess Rawson on October 29.
<a href="https://www.burgessrawson.com.au/buying/NSW/Hills/Dural/Retail/3P1167#.ViWpM94bSZx" target="_blank">The 508 Old Northern Road store</a> is currently on a 20-year lease to 2023 with options to 2053.
Located in Sydney's north western growth corridor, the supermarket is spread across 4,356 square metres. 
Its annual rent is $1,102,900. 
It has 200 car parks.
The tenant pays all outgoings, including land tax as per lease.
The property has been listed through Graeme Watson and Simon Staddon.
The agents noted this was a supermarket on an "old fashioned net lease," with the tenant paying outgoings that neither Coles nor Woolworths no longer agree to.
"The strong trading Woolworths supermarket is located in the heart of Dural, one of Sydney’s affluent suburbs," Graeme Watson said.
"The presents not only as a rare investment opportunity but also a secure one” he said.
Set 32kms from the centre of Sydney, it adjoins Dural Mall, a shopping centre with numerous specialty shops, all adding to Dural’s strong overall customer draw.
Itis expected to sell at circa $17,000,000 reflecting a yield in the order of 6.5%.
The property will be auctioned at Sydney’s Sofitel Wentworth Hotel as part of Burgess Rawson’s Investment Portfolio Auction 100. 
Late last year, Burgess Rawson sold off a Woolworths supermarket in rural Gloucester, NSW for $9.88 million on a 5.88 per cent net yield.
Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrates its 100th auction this October.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.
For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
</body></html>

Dural Woolworths offers old fashioned net lease

<html><body>
Burgess Rawson are offering two Westpac bank investments as part of its 100th investment portfolio auction.
Located in Leongatha and Wangaratta, both properties offer buyers in the lower end good long term security, said listing agent Raoul Holderhead.
“The Leongatha property also includes a successful OfficeSmart business, so you are buying two for the price of one” Mr Holderhead added.
Westpac have just renewed for another five years with the tenant paying all outgoings. There is a combined net income of around $80,000.
Mr Holderhead expects the Leongatha property to sell circa $1 million on a yield of 8%.
"Leongatha is the dairy capital of the world so very safe secure town to invest in," said Mr Holderhead who was born and bred in the town he vouches for.
The Westpac in Wangaratta is on a new three year lease to June 2018.
Set over two levels the building comprises 460 sqm on a central 909 sqm site.
Westpac pay all outgoings including land tax with an income of $104,800 selling agent Jamie Perlinger expects the property to sell for around $1.4 million.
Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrates its 100th auction this October.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.
For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
 
</body></html>

Regional Victorian banks listed in Burgess Rawson 100th portfolio investment auction

<html><body>
When the RBA board decided to leave the cash rate unchanged at 2% in early October, the members finally noted growth in housing prices in Sydney appeared to have eased slightly in recent months.
It also noted auction clearance rates in Sydney and Melbourne had declined a little from their recent peaks.
"However, it was too early to be confident that these signs of slowing in housing price inflation would be sustained," they advised in their notes yesterday.
In relation to lending for housing, members noted that the data on the split of lending to owner-occupiers and investors were of questionable quality at present.
The available data suggested that there had been a modest decline in the growth of credit extended to investors in housing of late, which was consistent with the tightening in banks' lending standards in response to actions of the Australian Prudential Regulation Authority (APRA).
With housing credit growth overall remaining steady over the past year, there had reportedly been a slight pick-up in the growth of housing credit to owner-occupiers.
Dwelling investment had increased strongly over the year to June, despite recording a decline in the June quarter.
Building approvals had declined a little from their recent peak, but remained at levels that implied further growth in dwelling investment, albeit at a gradually declining rate.
Loan approvals for construction of new dwellings had also fallen over the past year. 
Members noted that domestic sources of risk to financial stability in Australia continued to revolve mainly around developments in local property markets.
"In the context of recent developments in the housing market and household credit, members discussed the findings from the enhanced scrutiny of housing lending practices undertaken by APRA and the Australian Securities and Investments Commission since the end of 2014.
"This scrutiny and related work had shown that investor activity was considerably higher – and lending standards in some parts of the market weaker – than had originally been thought."
Members further observed that the risks in commercial property and the property development sector were rising.
"Building approvals for new apartments remained very strong over 2015, even though rental markets appeared soft in some areas.
"The divergence between commercial property valuations and rents had widened further, with strong domestic and foreign investor interest for new and existing office buildings in particular, even though vacancy rates were quite high.
It acknowledged while Australian banks continued to perform well, they were taking steps to enhance their resilience.
"Banks' asset performance continued to improve, profitability remained high, and the large banks had raised substantial amounts of capital in advance of forthcoming prudential requirements.
"Most banks had strengthened the serviceability metrics used in their mortgage lending and taken steps to slow the pace of growth in investor lending towards the prudential regulator's expectations.
"Banks were also reportedly becoming increasingly wary of lending to property developers in markets that were thought to be at risk of becoming oversupplied.
"Nonetheless, competition among lenders had intensified in the owner-occupied segment of the housing market and had continued to do so in parts of the business lending market.
"Members observed that a key challenge would be to ensure that lending standards at both Australian and foreign-owned banks did not weaken from this point."
Members noted that reductions in the cash rate earlier in the year continued to provide support to aggregate demand, particularly dwelling investment and household consumption.
Members also noted that conditions in the labour market had strengthened further over recent months and were somewhat better than had been expected earlier in the year.
Nevertheless, spare capacity remained in the economy, domestic cost pressures were very low and inflation was expected to remain consistent with the target over the next one to two years.
The key domestic sources of risk to financial stability, and stability of the Australian economy more broadly, revolved around developments in local property markets.
"Members noted that growth in lending for housing had been steady over recent months and that there were some signs of an easing in the strong rate of increase in dwelling prices in Sydney, in particular, although trends had been more varied in a number of other cities.
"At the same time, members judged that there were signs that the response of the banks to supervisory measures implemented by APRA were helping to manage risks in the housing market."
</body></html>

Too early to conclude housing price inflation tamed: October RBA minutes

<html><body>
Sydney's recent weakening clearance rate is likely to be joined in a decline in its median house price.
Another nail in the boom coffin.
The shift in sentiment seriously emerged last week with those three economist forecasts and then a Westpac rate rise. 
They were forecasting not just an end - or softening - to the property boom, but rather boldly putting a figure on the size of the price fall. 
The biggest mooted was a 7.5% drop over the next two years from Macquarie Research analyst James McIntyre in a report titled Aussie Macro Outlook: Population &amp; Housing - Perishable. SQM this week brought a bit of balance forecasting 2016 would certainly see a slowdown in growth, but no Sydney reversal.
I was surprised by the swiftness of the sentiment change to negativity - seen in the fall to a mid-60s clearance rate - but Sydney has always been able to turn on a sixpence.
I think one of the contributing factors in the latest shift towards negativity actually arose when Sydney turned on its $1 million median price suggestion back in July.
Buyers, quietly and sensibly, said enough is enough. Enough 15% annualised growth since its 2012 origins.
In July this year Domain's senior economist, Dr Andrew Wilson, calculated and crowed that house prices had spiked 8.4% over the June quarter to a $1,000,616 Sydney median house price.
I thought it was a bit of a stretch, and that $616 hardly clearly the hurdle with confidence, though the May RBA rate cut had certainly helped the spurt in Sydney's median.
According to the accompanying Fairfax Media overload spin, Sydney's median was higher than than average house price in London and fast approaching New York.
I'd anticipate the upcoming Domain House Price Report, may well send Sydney into reverse, ie a median price back below $1 million.
Will the dip in the overall Sydney median really mean prices are falling? Reckon we will have to await a few more Sunday morning newspaper headlines to judge the wind direction.
</body></html>

Negative Sydney property market sentiment turned on more than a sixpence

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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News