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From house hunting to arranging finance, there’s a lot to learn the first time you buy a property. Each step presents challenges and many first-timers fall into the same traps. Here are nine common mistakes and how to avoid them.  
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<li>Over-stretching your budget – Once you’ve crunched the numbers on how much you can afford, stick to that sum. Don’t over-spend, even on a property you love. </li>
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<li>Rushing in – If you’ve been looking for a while, it can be tempting to compromise on important details because you’re frustrated with searching. But beware of hasty decisions you may regret later. Review your checklist of features and reassess what you really want. </li>
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<li>Getting too picky – At the other end of the spectrum, you should be prepared to make some sacrifices, especially if other features you desire can be added later. </li>
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<li>Failing to research – Get to know how much homes in your search area cost but also learn about future changes that may affect values, such as proposed land rezoning or roads that may be built nearby. Factor this information into your decisions. </li>
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<li>Not getting inspection reports – Structural reports and pest inspection can reveal otherwise hidden problems. Knowing about these upfront allows you to budget accordingly and maybe negotiate on price.</li>
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<li>Forgetting extra costs – In addition to the property price, you may have other costs such as the cost of title searches, solicitor fees, removalists and potentially upfront repairs. Ensure you’ve saved enough to cover those and other charges. </li>
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<li>
Failing to arrange finance – You may think you know how much you can borrow, but does the bank agree? Speak to your lender about seeking pre-approval for a loan early in your house hunting process. This provides comfort that you’ll have the money when you need it. 
</li>
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<li>Job hopping – Recent or frequent job changes may make lenders reluctant to extend finance. If possible, this is something to keep in mind.</li>
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<li>Not reading the fine print – Sale and mortgage contracts are long and complicated but their contents are important. Read them in detail and have a lawyer explain what they mean.</li>
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Quick tip: To avoid mistakes, plan ahead, do your research and stay focused on your goal.
 
TO FIND OUT HOW RAMS CAN HELP EASE YOU THROUGH THE PROCESS, GET IN TOUCH WITH YOUR LOCAL RAMS HOME LOAN EXPERT OR DROP IN FOR YOUR <a href="https://ad.doubleclick.net/ddm/clk/297184357;124281889;y" target="_blank">FREE FIRST HOME BUYERS’ GUIDE</a>.
For more great property advice and tips on buying your first home from RAMS subscribe to <a href="https://ad.doubleclick.net/ddm/clk/297184562;124283881;q" target="_blank">The Great Australian Dream property series</a>.
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
Disclaimer: Information in this material is general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.
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jchancellor-FAypfDUnLy

First-time mistakes to avoid

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An 1884 Victorian Melbourne home has been listed for sale with $2.25 plus million hopes through Michael Armstrong at Kay &amp; Burton.
The <a href="https://www.realestateview.com.au/Real-Estate/53-greville-street-prahran/Property-Details-buy-residential-9561908" target="_blank">53 Greville Street</a> Prahran home has been recently restored by vendor Ian George.
It has three bedrooms and two bathrooms.
The Wesley House terrace had been an investment property for 15 years.
It features a Margie Bromilow interior design and garden designed by Jack Merlo.
Period features include high ceilings, open fireplaces and lead-lighting.
The property goes on auction on October 17.
The median price for a home in <a href="/news">Prahran is $1,233,500</a>, according to CoreLogic RP Data.
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Prahran trophy terrace Wesley House lists 

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GUEST OBSERVER
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RBA Deputy Governor Philip Lowe struck an optimistic tone today, and noted that the Bank retains flexibility on interest rates. 
He emphasised that Australia’s economic fundamentals were good and the economy has high degree of flexibility at the CFA Institute Australia Investment Conference in Sydney. 
Most of Dr Lowe’s remarks focused on the microeconomic reform agenda that would lift Australia’s living standard over the medium term, and so he did not directly address the near term path for interest rates in his speech. In the Q&amp;A though, he answered several questions related to the immediate outlook and monetary policy and repeated the bank’s expectation that growth will gradually pick up. 
Some key points Dr Lowe made were: 
There continued to be some flexibility in monetary policy given the cash rate had not been reduced to zero as policy rates have in many other advanced countries. Monetary policy still works, as seen through its impact on housing construction and the exchange rate. But lower interest rates are not as effective as they used to be, as low interest rates seem to be helping households to pay back their debt sooner, rather than encouraging household spending.
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 There is still some flexibility in fiscal policy due to our history of fiscal prudence. The probability of recession is low but we cannot rule out the possibility of a downturn. There will be a cycle, and we have had a remarkable 25 years.
He said that comments about consumer and business confidence being weak were not correct. On cue, this morning’s ANZ-Roy Morgan Australian Consumer Confidence index showed a 5.1% rise in the week ending 11 October, bringing confidence 2.6% above its long run average
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 Dr Lowe said business conditions were above average overall and that business was reporting that current conditions are ok. He said firms were willing to hire and as they have stated many times before, it is not clear at what point this will translate into higher capex.
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 When asked if state stamp duties should be used to soften demand for housing, he said it is a mistake to think house prices can be managed through levers that affect demand. He repeated that regulatory action on lending is working its way through the system. Dr Lowe said that ideally there would be a period of quite modest house price growth. On the US he said there has been some movements in capital flows from emerging markets back to the US, even ahead of the Federal Reserve increase in rates. He said there might be some stresses in capital markets.
Dr Lowe did not address our concerns about growth in 2016 and 2017, which recently led us to lower our interest forecast to 1.5% by mid next year. We think further rate cuts will be necessary as concerns simmer about the unpredictability of international economic conditions, while the boost from housing starts to fade as the impact of the lower AUD on services trade lessens. Dr Lowe noted that monetary policy maintains a key role in dealing with cyclical swings in the economy. 
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Cherelle Murphy is co-head of Australian economics, ANZ, and can be contacted <a href="https://bluenotes.anz.com/authors/our-economists/" target="_blank">here</a>.
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RBA's Lowe strikes optimistic tone: ANZ's Cherelle Murphy

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It would however more than likely add further momentum to the property market and expansion of household leverage, according to Merrill Lynch economist Alex Joiner. 
"It is our view that future risks outweigh any benefit especially when we consider any future tightening cycle," he said.
"Future risks will define any tightening cycle.
"Indeed, we already think that the level of dwelling prices and household debt pose significant future risks to the economy without the RBA exacerbating them with even lower interest rate settings.
"And because of this, we think the balance of downside risks in the economy will increasingly transition from the business sector to the household sector. This is especially true when the RBA eventually does raise rates from what are record ‘emergency’ lows.
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It would however more than likely add further momentum to the property market and expansion of household leverage.
"It is our view that future risks outweigh any benefit especially when we consider any future tightening cycle.
"Future risks will define any tightening cycle.
"Indeed, we already think that the level of dwelling prices and household debt pose significant future risks to the economy without the RBA exacerbating them with even lower interest rate settings.
"And because of this, we think the balance of downside risks in the economy will increasingly transition from the business sector to the household sector. This is especially true when the RBA eventually does raise rates from what are record ‘emergency’ lows.
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Joiner reckons the RBA decision making or lack thereof has arguably encouraged asset price inflation, household debt accumulation and almost inevitably speculative activity in the property market.
"In our view, the RBA and prudential regulators have been too cautious in its treatment of the property market in this easing cycle.
"It seems clear to us that stronger macroprudential measures should have been put in place significantly earlier than the ‘soft’ measures that are currently in place.
"And now, we think it may be a case of too little too late.
"In hindsight, it may have been worth it for the RBA to sacrifice some of the positive dwelling price impact on consumer spending and residential construction in order to reduce future risks (and potentially elongate cycles).
"Our analysis suggests that dwelling prices growth will decelerate markedly by the end of 2016 to be at or around the pace of income growth.
"Yet once the rate tightening cycle has begun, we would expect house prices to be 5-6% lower by the end of 2017.
"China is not the only hard landing risk in town.
"The scenario that is our base case, outlined above, looks for a modest but not detrimental decline in dwelling prices that will weigh on growth.
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"We are not forecasting collapse or the bursting of any perceived bubble.
"That said, it is not difficult to envisage a more ‘hard landing’ scenario in the property market. 
This would clearly have a greater negative macro-economic impact channelled through households and the residential construction cycle.
"A recent investor trip highlighted such an event as a key concern for clients across all asset classes along with a hard landing in the Chinese economy.
"We highlighted recently that the latter is a low probability, high impact, event that would be difficult for policymakers to manage. 
"A disorderly decline in dwelling prices is a greater risk in our view and would be equally high impact and difficult to manage.
"It could come from a number of sources: households; investors; inadvertently from the RBA itself; or a combination of all three.
"Clearly the RBA will be closely watching dwelling prices as it eventually tightens policy.
"At best, we will escape with some cyclicality in dwelling prices that has little material impact on the broader economy.
"At worst, a hard landing that could represent a marked setback for the economy in coming years," Joiner advised.
 
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House prices and debt pose significant risks without the RBA exacerbating them: Alex Joiner

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The combination of strong supply and weak population growth means that the housing market has a period of adjustment ahead of it, Macquarie Reseach has forecast.
It says there are three key paths for adjustment to normalise price to income ratios and supply and demand -  lower house prices, a decline in new dwelling supply (construction) and a cut in interest rates.
Their overall outlook incorporates all three of these factors, though not to the same degree.
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"Lower prices boost affordability, sustaining house price to income ratios as per dwelling incomes decline,' the Macquarie report advised.
"Reductions in dwelling supply stem the decline in the persons per household ratio, pushing up household incomes.
"And interest rates support nominal house price values."
It noted an important distinction about the cycle over the period ahead is that it does not occur against a backdrop of favourable tailwinds.
"Previous housing construction cycles have been associated with some combination of a credit tailwind (rising debt to income ratio), fiscal expansion/tax cuts, participation boost, or major income boost within the economy (price phase of the mining boom).
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"Through previous cycles, policymakers have managed to avoid large negative house price adjustments – with subsequent destructive effects on household, business and bank balance sheets – and instead used policy to support existing prices, with long, slow adjustments occurring over a number of years.
"For example, in real terms, Sydney house prices peaked in 1Q89, but took almost a decade to exceed that level. The nominal price adjustment was minimal, and was recovered 2 years later. But in real terms, the ABS measure of Sydney house did not better the 1Q89 level until 2Q98 (figure 26 and 27).
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"We expect a measured 7.5% peak to trough decline in house prices over 2016 and into 2017, with a recovery commencing in 2H17," was the headline takeout of the report.
It especially noted Australia’s population growth has slowed and was on track to slow further over the coming quarters.
It concluded while the population growth was still positive, but not as strong as it used to be, that it was not strong enough to justify the major surge in housing supply that will hit the market over the course of 2016.
"Slower population growth adds to the adjustment challenge within the housing market over 2016 as the upswing in supply converges with the impacts of macro prudential policy tools and curbs on foreign investors.
"Building approvals and housing commencements, at 200k+ are running well ahead of estimates underlying demand, which we peg at 170-180k once current, and prospective, population growth rates are incorporated. 
"Supply has undershot demand for several years.
"Whilst Australia’s population growth has slowed to a 9-year low, and is on track to moderate further, residential dwelling supply is reaching all new records.
"Building approvals are currently running at an annual pace of 225k, and commencements are following through.
"Both are at new records (figures 8 &amp; 9 below).
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"The full impact on dwelling supply is yet to be felt in the physical market.
"Completions have risen substantially, but they lag commencements, and there is a record 180k dwellings currently under construction (figure 10 above).
"Subsequent pent up demand has been calibrated into prices, through increases in persons, employment, and income per household.
"Unleashing that pent up demand will also have price effects – it will require an improvement in affordability.
"Improving affordability requires either lower house prices, lower interest rates, or stronger household income growth.
"In the absence of robust wage and income growth in the economy, achieving the latter will be more difficult the longer that strong dwelling supply persists."
Macquarie expect a retrenchment in housing commencements through 2016 and into 2017, concentrated in the high density apartment segment.
"This is likely to be accompanied by weaker dwelling prices, as the market struggles to absorb the currently bulging supply pipeline.
"Depending on the speed of adjustment, lower rates may be needed to support demand and prices. 
"We remain of the view that further monetary policy easing is likely from the RBA. 
"Our base case is that this is delivered in November, alongside downgraded forecasts for growth and inflation.
"We have maintained the view for some time that the risks lie with additional easing in 2016.
"How swiftly the currency falls to a level sufficient to catalyse the transition from mining to non-mining growth is a key driver of the outlook for rates in 2016.
"An earlier, or more rapid, housing construction adjustment – which we expect to accelerate from 2H16 – could mean more cuts will be needed."
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November rate cut - and 7.5% house price drop starting in 2016: Macquarie Research

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The most famous real estate jacket in the world is once again turning pink for the month of October, in an Australian-led initiative aimed at raising awareness and funds for Cancer Council’s Pink Ribbon campaign.
The campaign will see gold jacketed Century 21 agents across Australia and New Zealand wear limited edition pink jackets, scarves and ties at auctions and open homes. 
“Sadly, every day in Australia around 50 women are told they have a breast or gynaecological cancer,” said Charles Tarbey, chairman and owner of Century 21 Australasia. 
Century 21 real estate agents raised $138,770 last year and hope to better that result in 2015.
Cancer Council’s Pink Ribbon campaign supports women affected by breast and gynaecological cancers and raises funds for vital cancer research, prevention programs and support services. 
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Century 21's gold jacket turns pink for Cancer Council's October awareness campaign

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<div>Marc Coakley, the Dublin-based executive at the innovative Irish company Brim Brothers, has listed his Tamarama home. </div>
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The beachside home with northeast orientation overlooking Tamarama Beach was designed by architect Tom Rivard.
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<div>The four bedroom 2010-built <a href="https://www.realestate.com.au/property-house-nsw-tamarama-120656449" target="_blank">Thompson Street, cul-de-sac</a> home features bespoke elements throughout including glass walkways on the second and third levels.</div>
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Elliott Wasserman of Real Estate Redefined has the October 17 auction listing with $6.2 million plus expectations given the recent $7.8 million sale on nearby Mirimar Ave.
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<div>Marc and his wife Kathalin had bought in Tamarama since 1998 paying $1.12 million.</div>
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Brim Brothers is an Irish start-up business specialising in commercialising a patented fitness meter worn by avid cyclists. Marc is not a cyclist but invested in the concept. 
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Before Brim Brothers, he was at PepsiCo.
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Tom Rivard-designed Tamarama auction offering

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Agents Rodney Morley and Leonard Persichetti at Rodney Morley Persichetti has listed Ulverstone, an 1890s Italianate Victorian mansion at Ripponlea.
More than $2.3 million is tipped for the five bedroom home which has been meticulously restored by Derek Marvelly, the man behind restorations at Ravenswood and Werribee Mansion.
<a href="https://www.realestateview.com.au/Real-Estate/23-hotham-grove-ripponlea/Property-Details-buy-residential-9548842" target="_blank">Ulverstone</a>, which has 12-foot ceilings with gold-leaf cornices and ceiling roses, sits on a 1310 square metre holding with three street frontages.
There is a Ian Lyell designed solar heated pool and pool house at 23 Hotham Grove.
It goes to October 18 auction.
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Trophy home Ulverstone at Ripponlea for October 18 auction

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The landmark sculptural building at 1 Hargrave St, Paddington purpose designed in 1989 for Sherman Galleries, sold last week, for $3 million by R&amp;W Bondi Junction agent Andre Frack.
The <a href="https://www.realcommercial.com.au/property-offices-nsw-paddington-501706809" target="_blank">contemporary three level building</a> with rooftop garden terrace was bought by Sydney sculptors Janos Korban and Stefanie Flaubert.
They have a well-established furniture practice in Alexandria renowned for their work with metal.
It will likely resume life as a gallery and exhibition space, a result no doubt pleasing not only the sellers, art academic and philanthropist Dr Gene Sherman and Equitilink founder Brian Sherman, but the local arts community. 
Buying interest in the corner building, which operated as Sherman Galleries until 2002, also came from several quarters including architectural and design firms.
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Former Sherman Galleries Paddington building sold to sculptors

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Sydney had just two weekend apartment sales under $500,000 sold at weekend auction.
The cheapest was $400,000 for a studio apartment at 605/144 Mallett Street, Camperdown which sold auction eve.
It last sold at $279,000 in 2009, reflecting 5.6% annual price growth.
The 32sqm apartment sold through <a href="https://urbane.com.au/listings/residential_sale-492301-camperdown/" target="_blank">Charles Bailey at Urbane Property</a>.
It sold by a SMSF investor to a SMSF investor, currently renting at around $380 a week, reflecting 4.9% gross yield.
But there was the prospect of around $420 a week, buyers thought.
The other sub-$500,000 sale was $440,000 at Blackett.
APM had Sydney's median auction price as $1.15 million at the weekend. 
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Sydney's weekend cheapest $400,000 at Camperdown as SMSF investors sell and buy

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

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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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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