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GUEST OBSERVER
The Urban Development Institute of Australia (UDIA) NSW urges the state government to conduct an independent review into the reported misuse of sunset clauses in off-the-plan property contracts to understand how widespread the issue is.
The state government needs to establish how many incidences there have been of developers purposely rescinding contracts after the sunset clause to sell properties at a higher price, and who these operators are. As far as I am aware, such behaviour is not common practice. 
Our view is if this is happening, and it’s rare that it does happen, then it needs to be stopped because people act in good faith they expect the counter party to act in good faith, and we have to resolve this issue
It is crucial that the government does not base its policy responses on anecdotal reports. 
We need an independent review into the problem before making any policy changes to understand the extent of the problem. 
Any reform to the Conveyancing Act 1919 would need to consider implications to housing supply as it could impact on the ability to raise development finance. 
The government’s proposal to allow only purchasers the option to rescind contracts during the sunset clause could have a negative impact on a project investor’s ability to secure finance to build homes because of the increased risk. 
The market is also rising now, but if and when it dips, purchasers should not have the option to rescind a contract simply because a dwelling is worth much less than it was when they entered into it. 
Any new legislation must be measured and balanced, and before any changes, it’s vital the government establishes the scope of the issue.
It is also important that reputable developers who deliver a project beyond the sunset clause because of reasons beyond their control – such as delays getting applications through councils or financing issues – do not get penalised. 
The Urban Development Institute of Australia NSW is the state’s leading property industry body. It advocates for better planning; timely and affordable housing, and the building of vibrant communities to increase local job opportunities.  
Stephen Albin is chief executive of UDIA NSW and can be contacted <a href="https://www.udia.com.au" target="_blank">here</a>.
 
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jchancellor-FAypfDUnLy

Off-the-plan sunset clauses need independent review: UDIA's Stephen Albin

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GUEST OBSERVER
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Victoria is set to build, for the first time ever, more multi-unit dwellings than detached houses in 2016. 
It will mark a significant shift to more urbanised living by the city destined to have the largest 12 population in Australia, of 8 million, in 2050. Melbourne’s population was 4.4 million at the end of 2014 and Victoria’s was 5.9 million. Total residential building approved in 2014/15 was a record $20.2bn, up 20% from 2013/14, with 50% in detached houses.
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Victoria’s residential building approvals were running at a record annual (or through the year) pace of 68k in July. The equivalent national approvals figure also hit a record 221k in July, driven by a strong rise in multi-unit approvals in Melbourne and Sydney over the past year.
In Victoria, multi-unit dwelling approvals, mainly high rise apartments in the metropolitan areas, now account for around 50% of the Victorian total. It compares to about 60% for NSW which has been building more multis than detached homes since the mid-1990s.
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One of the major trends in the inner Melbourne suburbs over the past decade is that the traditional industrial and warehouse areas have been turned over to residential, usually multi-unit developments. 
The proximity to the city offers distinct travel advantages along with a preference shift to apartment and high-rise life styles. The multi-unit developments are a more affordable alternative to detached houses in nearby suburbs. The State Government’s policies, like exempting off- the-plan purchases from stamp duty, have assisted the upswing. 
Detached houses represent just under 50% of total approvals. Most of the houses tend to be built in outer-metropolitan suburbs or the regional centres where new land prices are more affordable.
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The recently announced height limits on residential buildings by Victoria’s State Government will undoubtedly curb some inner-city construction. We expect that more dwellings will be built in the outer suburbs. Demand conditions are expected to stay relatively firm, unless there are Federal Government changes to investor-related tax policies or foreign investor access to the residential property market. 
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Victoria’s residential construction forecasts 
We expect to see an average of 65k new dwellings built in Victoria across both 2015 and 2016, based on approvals. In our view it means around 33k multi-unit dwellings and 32k detached houses in both years. The multis tend to be built in the inner suburbs. 
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Victoria’s construction boom is dominated by the high-rise developments. The approvals data shows that high rise apartment blocks (four or more levels) account for 80% of all multi-units and 46% of total residential. So there has been a marked change in the building materials used compared to new detached homes. It has coincided with a reduction in Australia’s manufacturing capability through a prolonged period of an over-valued Australian dollar. 
Victorian approvals by region, by number and value 
The detached houses are predominantly constructed where land is available, in the outer suburbs which account for 50% of the 33k total of new houses in 2014/15. However, there are a significant percentage of new detached homes (at least 20% of the 2014/15 total of 33k) that are new-for-old knockdowns in the inner Melbourne suburbs. New construction can be more financially appealing and quicker than renovation in some cases.
The regional centres like Bendigo, Ballarat and Geelong are also building large numbers, about 30% of the total, which is positive for regional jobs in construction, retail and transport. 
Victoria has some features that tend to favour building compared to the other States. It has a large population, in one of the smaller Australian states, with good transport links. There are large supplies of accessible and affordable land around Melbourne and the regional cities suitable for residential. 
For the multi-unit developments the approvals data shows that 74% of the 2014/15 total of 33.5k will be built in the inner-city areas. But that means about 23% will be built in the outer suburbs, usually around the major transport links. The Victorian Government is undertaking a considerable development program that will improve new transport links around the outer suburbs as the population increases. 
There is also a significant contribution from Alterations and Additions (A&amp;As) in the total Victorian residential construction picture. The figures here include A&amp;As approved by local councils but the level of actual A&amp;A expenditures is at least two to four times higher. This is because not all A&amp;A need approval from local councils. In the national accounts, A&amp;As spending is estimated at 40% of the total residential investment. 
In Victoria, A&amp;As approved were valued at $2.3bn in 2014/15 or about 11% of the total value of approved residential construction. But actual spending could be as high as $8bn. Inner-city A&amp;As totalled $1.3bn according to the approvals data, which was about 6% of the total value of approvals. A&amp;As have a major influence on hardware, whitegoods and furnishings retailing. 
The current building cycle – longer duration? 
The current Victorian building cycle differs from the previous ones in a number of ways which could extend its duration. Interest rates look set to stay at relatively low levels for longer. It has fuelled an extended lift in residential property prices, allowing sellers and developers to move more properties. Prices have also risen for commercial, industrial and retail properties.
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On current indications, interest rates do not look they will be rising in Australia until 2017, at the earliest. The inflation outlook remains quite subdued, despite the lower Australian dollar, and wages growth is moderating.
The “pass-through” time between approval and completion is lengthening because there are more high-rise developments. They require more site preparation, including demolition and excavation. They usually have extensive underground car parking and often involve multi- use developments where commercial, retail, accommodation and cafes are included, such as the large new developments underway in the suburbs, like near Box Hill railway station. Construction periods are lengthening and can easily take more than a year. Some of the large high-rise developments in Melbourne’s CBD have reported construction periods close to 3 years.
Overseas investors, ie non-residents, have emerged as a significant new source of demand for the property developers in the last three years. They are playing a much more active role in the new residential market thanks to a significant easing of the Federal Government’s regulations around foreign purchase of all types of local property. At this stage it does not appear that there will be any regulatory changes in the current political cycle. But the newly announced Turnbull Government may be more amenable to future changes.
Population and pent-up demand pressures have been more intense, raising demand levels, for the last ten years. It coincided with an unusually weak new dwelling supply response which underpinned strong rises in rents and dwelling prices. Higher student numbers are an important part of the population increase. Victoria’s population growth has eased back to an annual rate near 100k, but that is still high compared to a decade ago.
If, as expected, new construction activity in 2014/15 is 65k, it will match the underlying demand from population growth and, most probably, some of the pent-up demand from previous years. But the combination of a better jobs market performance and firm population growth should mean demand conditions remain relatively firm.
There have also been press and anecdotal reports, sourced from the power and water providers, that some (possibly as much as 20%) of the new inner-city apartments are not fully utilised, ie they may be not lived in for a majority of the year or leasable. So they may not in the rental market. It may help explain why Melbourne rental growth is running at around 2%pa, rather than weakening in the face of a record increase in supply via high construction levels.
 
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The chart showing Melbourne’s residential rents and vacancy rates as departures from their longer term average (1995 to 2015) indicates that despite the large supply increase, vacancy rates are below their average level, while rents are rising again! It may be different for CBD rents, where there are clear oversupply issues. 
Big Population: Melbourne headed for 6 million people in 2031 
The ABS population projections have Melbourne reaching 6 million people in 2031, from 4.4 million in 2014. So another 1.6 million people will create ongoing demand pressure for more dwellings over the next few decades. Victoria’s population is expected to rise from its current 5.9 million to 7.1 million in 2031. 
In terms of households, Victoria currently has around 2.2 million, with Melbourne at 1.5 million, or about 70% of the total. The number of households in Melbourne is forecast to rise by about 600k to 2.1million in 2031. Dwelling construction in Melbourne needs to average around 40k per year to match the lift in households, assuming population per dwelling numbers are unchanged. Dwelling construction in greater Melbourne has averaged around 40k over the past decade. So the relatively robust levels of construction activity need to be maintained over the next decade to match population growth. 
 
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Michael Workman is senior economist, <a href="https://www.commbank.com.au/corporate/research?ei=mv_research" target="_blank">Commonwealth Bank</a>.
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Victoria to build more multi-unit dwellings than detached houses: CBA's Michael Workman

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GUEST OBSERVER
Despite strong price increases for commercial property in this cycle, Australian assets are still provoking significant investor interest — especially prime real estate generating stable income streams for the medium to long-term. 
Yields for commercial property remain attractive compared with investments in Australian residential real estate, offshore commercial property and other asset classes. 
With investor interest predicted to remain strong through the balance of 2015, prices are set to rise even higher. As a result, yields are on track to hit and surpass previous peaks, riding a fresh wave of purchases, particularly by international investors. 
Commercial property transactions are forecast to jump to around $10 billion in the second half of 2015, rounding out the calendar year with a total of close to $20 billion.
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While this is lower than the $30 billion turnover in 2014, it is still well above long-term average annual turnover, and indicates continued growth across all sectors. 
That growth looks set to be supported by a continuation of low interest rates and affordable debt. 
Given these conditions, the volume and number of transactions is likely to span a wide range of prices, asset quality, sectors and markets, opening up new opportunities for investment at many levels of the property industry. 
At this late stage of the current cycle, it would be advisable for investors to adopt a medium-term view. However, it is not too late to invest in commercial property in the short term and see prices rise. 
Another strategy that may be used at this point in the cycle is to redevelop or re-position a property with unrealised potential — although the outcome will depend on the attractiveness of the location and occupational demand.
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 Kevin Stanley is head of property strategy and research, Corporate Financial Services, <a href="https://www.commbank.com.au" target="_blank">Commonwealth Bank</a>.
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Prime real estate generating stable income: CBA's Kevin Stanley

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Buyers agent Frank Valentic, of Advantage Property Consulting, watched the two-bedroom apartment at 4/1A Lansdowne Rd, St Kilda East fetch $661,000 at recent auction.
It last sold at $490,000 in 2009.
He said an apartment in an almost identical position in the block sold last year for about $500,000.
<a href="https://bigginscott.com.au/1867261/" target="_blank">There was a $548,000 sale</a> in December 2013, records show.
<a href="https://www.realestateview.com.au/Real-Estate/4-1a-lansdowne-road-st-kilda-east/Property-Details-sold-residential-9328024" target="_blank">The latest two bedroom sale</a> was one of only six.
It came with secure car parking. 
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St Kilda East price spurt 

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The intended matrimonial home of celebrity trainer Michelle Bridges and her former husband Bill Moore has been sold.
It achieved its desired $4.5 million plus ambitions ahead of last weekend's <a href="https://www.ch.com.au/100P10126" target="_blank">scheduled Cobden &amp; Hayson auction</a>.
With its two year makeover, the then couple had bought the sandstone home at 10 Wharf Road in Birchgrove for $2.35 million in 2011.
It renovations were said to have cost as much again.
The builders only recently completed the renovation of the three bedroom 1870s home which has been sold to an inner west buyer, though not from the Balmain peninsula.
The Biggest Loser fitness trainers Michelle Bridges and Steve "Commando" Willis are set to stay in their Potts Point apartment following the upcoming birth of their first child.
It was early 2013 when the then Biggest Loser star and her husband, Bill Moore split after nine years of marriage, while keeping their multimillion-dollar fitness empire intact, with Bill retaining his role as business manager.
The couple had met at Moore's Balmain gym and then renovated their Rozelle house, where Moore continues to reside.
Birchgrove's highest non-waterfront was a $4.1 million sale in 2013 on Rose Street.
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Michelle Bridges sells Balmain reno 

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The former 2UE radio broadcaster Angela Catterns and her music composer partner Charlie Chan have sold their Balmain terrace pre-auction.
The Victorian-era residence, <a href="/expert-insights/buying/broadcaster-angela-catterns-lists-in-balmain">Glendarra</a>, was scheduled to go under the hammer with expectations of $2.9 million plus.
McGrath agent Cindy Kennedy secured a strong pre-auction offer.
The terrace cost $2.2 million in 2009.
Set on <a href="https://www.realestate.com.au/property-house-nsw-balmain-120587217" target="_blank">White Street</a>, it has four bedrooms, three bathrooms, plus a rooftop terrace overlooking the harbour.
She wrote a blog on Switzer entitled, <a href="https://www.switzer.com.au/the-experts/angela-catterns/how-many-cushions-does-it-take-to-sell-a-house/" target="_blank">How many cushions does it take to sell a house?</a>
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Angela Catterns sells Balmain terrace

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A heritage 1879 house in Parkville, Melbourne, has been listed for sale with $3 million plus hopes through Nicholas Corby and Paula Beavis at Collins Simms.
The double-fronted, two-level home with bluestone alfresco terrace and heritage ceilings at <a href="https://www.realestateview.com.au/Real-Estate/129-park-drive-parkville/Property-Details-buy-residential-9420342" target="_blank">129 Park Drive</a> sits on 545 square metres and is near to Royal Park and Melbourne University.
The auction date is 26 September.
The median price for a home in <a href="/news">Parkville is $1,440,000</a>, according to CoreLogic RP Data.
 
 
 
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1879 heritage home in Parkville listed

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A Glen Forrest home in Western Australia has been listed for sale with $1.7 million hopes through Trevor Clark at Earnshaws RE.
The <a href="https://www.realestateview.com.au/Real-Estate/117-121-hardey-road-glen-forrest/Property-Details-buy-residential-9079616" target="_blank">117-121 Hardey Road</a>, an early 1900's private estate, was built by local stonemason Job Bailey.
The property sits on 1.24 hectares and features high ceilings, ornate cornices, original wide jarrah floorboards and French doors only 40 minutes drive east of Perth's CBD and is close to the Heritage Walk Trail
In 1995 a large two storey architecturally designed brick and tile addition was completed.
The median price for a home in <a href="/news">Glen Forrest is $585,000</a>, according to CoreLogic RP Data.
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Glen Forrest stone home hits the market

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A former Marara estate home in Avalon Beach has been listed for sale.
The <a href="https://www.realestateview.com.au/Real-Estate/102-and-104-cabarita-road-avalon-beach/Property-Details-buy-residential-9332704" target="_blank">104 Cabarita Road</a> property has been listed with $3.95 million hopes through David Watson and Claudio Marcolongo at LJ Hooker Avalon.
The boat-house Careel Chalet was the sole building on the 13,000 sqm Marara estate until 1930's.
Today the chalet is a self-contained guest-house to the 1970's timber home on a 1,073 sqm fragment of original property.
With a northerly aspect, the property overlooks Pittwater and is located five minutes from Palm Beach and 60 minutes from the CBD.
 The median price for a house in <a href="/news">Avalon Beach</a> is $1,300,000, according to CoreLogic RP Data.
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Avalon Beach waterfront lists with $3.95 million hopes

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Highfield House, a Kempton, Tasmania home built in 1840 by a pardoned convict and ex-bricklayer from Shropshire, England, has been listed for sale.
The property, located at <a href="https://www.realestateview.com.au/Real-Estate/86-main-street-kempton/Property-Details-buy-residential-8454878" target="_blank">86 Main Street</a>, has been listed with $550,000 plus hopes through Kerry Shepperd and George Self at Charlotte Peterswald for Property.
Period features include original internal doors made of solid cedar. It is located 45km from Hobart.
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Tasmania's Highfield House listed

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

Joel Robinson

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

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

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

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

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

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

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