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How much could Ben and Tiffany Tilley secure for their home next door to the Prime Minister in Point Piper?
Not that it is for sale, but it was the topic of conversation among the eastern suburbs glitterati set this week, Title Tattle gleaned.
The regular trader of prestige property is in the box seat to capture a price premium given Chinese buyers love such status.
Ben Tilley paid his neighbours Malcolm and Lucy Turnbull $13.6 million in 2011 with selling agent Brad Pillinger reckoning he could easily secure $20 million plus now.
Of course Tilley's best mate James Packer owns next door to Israel PM Benjamin Netanyahu.
This article first appeared in The Saturday Daily Telegraph.
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Premium for owning next door to the Prime Minister? Title Tattle

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The northern tablelands NSW rural holding, Brushgrove, is to be offered for sale by rural property specialists Meares &amp; Associates, Sydney, via Meares Online Auction.
The New England fine wool and beef cattle farm is 3,014 hectares (7,448.5 acres), <a href="https://www.realestate.com.au/property-livestock-nsw-uralla-7761129" target="_blank">23km west of Uralla</a>, 46km south west of Armidale, 112 km north east of Tamworth.
The holding was bought in about 2002 and initially run with sheep, and, in more recent times cattle. 
"With an increase in lamb and cattle prices, the ability to run approximately 12,000 DSE’s or 800 plus breeding cows should make Brushgrove an attractive investment proposition for either existing operators or investors looking to capitalise earnings in to rural property,” Chris Meares said
The Meares online auction commences September 29 concluding 3:00pm September 30.
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New England Brushgrove to Meares online auction

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A Minister for Cities and the Built Environment will help Australia make the most of its productivity powerhouses, says the Green Building Council of Australia (GBCA).
The Prime Minister Malcolm Turnbull has appointed South Australian Jamie Briggs as Australia’s first Minister for Cities and the Built Environment.
“This appointment recognises not only the importance of our cities as the engine room of the nation’s productivity and prosperity, but also the central role the built environment plays in tackling many of Australia’s greatest challenges," the GBCA’s chief executive officer, Romilly Madew said.
“Minister Briggs’ long-awaited appointment will enable us to better tackle the challenges we face – challenges such as climate change, population growth, ageing demographics, congestion, housing affordability, liveability and social inclusion."
The Property Council of Australia chief executive Ken Morrison warmly welcomed Malcolm Turnbull as "perhaps our most urbanist Prime Minister ever."
"He has lost no time in placing cities firmly on the federal agenda," Mr Morrison said.
"Make no mistake about it, this is a key economic appointment.
"The move recognises that in the most urbanised country in the world Australia's productivity challenges are going to be need to be met in our cities.
"With the property industry accounting for one ninth of Australia's GDP and employing 1.1 million people - more than mining and manufacturing combined - there is an increasing urban dimension to the economy.
"Jamie Briggs is a smart appointment as the new Cities Minister given his record in securing the government's $50 billion infrastructure commitment in last year's budget.
"The move mirrors one already made by the Opposition last year in appointing Anthony Albanese as shadow cities minister, and it is very pleasing to now see a bipartisan approach to the importance of this issue."
The Property Council also congratulated Scott Morrison - a former head of research for the organisation in the 1990s - on his appointment as federal Treasurer.
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Jamie Briggs appointed Australia's first minister for Cities and Built Environment

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Clifton, an 1891 Camberwell home has been sold at a $7.7 million record price. The previous record was $6.8 million for a nearby Russell Street property.
The <a href="https://www.realestateview.com.au/Real-Estate/27-29-kintore-street-camberwell/Property-Details-buy-residential-9390872" target="_blank">27-29 Kintore Street</a> trophy home had been listed with $6.5 plus million hopes through Doug McLauchlan at Marshall White.
The corner property was designed by Butler and Ussher on its 2235 square metre lot.
The house was last traded in 1988 at $1,505,000 and has been extended since.
The house has a garden with 120 year old trees, a full-size, floodlit tennis court, and solar heated swimming pool.
Sims Cooper &amp; Co financial planning director Graeme Black and his wife, Sally Romanes, sold the double-storey, six-bedroom home within walking distance to the Camberwell train station and the Burke Road shopping strip.
A clearance rate of 76 per cent was recorded on the weekend compared to 75 per cent last weekend and 72 per cent this weekend last year. There were 944 auctions reported to the REIV.
 
TOP 5 HOUSES
1. 27-29 Kintore Street, Camberwell $7,700,000
2. 15 Cole Street, Brighton $4,425,000
3. 33 Avenue Athol, Canterbury $4,360,000
4. 33 Service Street, Hampton $3,900,000
5. 16 Orchard Street, Brighton $3,761,000
 
TOP 5 BARGAIN HOUSES
1. 678 High Street, Melton West $308,000
2. 22 Bennett Street, Bittern $315,000
3. 3 Kilmore Crescent, Dallas $330,000
4. 4 Darnley Drive, Skye $331,000
5. 20 Nigra Street, Doveton $339,500
 
TOP 5 APARTMENTS 
1. 1/82 Vale Street, East Melbourne $2,365,000
2. 1 Princes Place, Port Melbourne $1,805,000
3. 86A Halifax Street, Brighton $1,650,000
4. 4/27-29 Hodgson Street, Brunswick $1,620,000
5. 3 Queen Street, South Melbourne $1,525,000
 
TOP 5 BARGAIN APARTMENTS
1. 1/3 Manfred Avenue, St Albans $155,000
2. 6/20 Highland Street, Kingsbury $240,000
3. 8/14 Alma Road, St Kilda $278,000
4. 5/50 Lillimur Road, Ormond $287,500
5. 4/21 Richardson Street, Essendon $300,000
Source <a href="/news">REIV</a>
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Camberwell's Clifton sells at record $7.7 million: REIV

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The international celebrity chef Bill Granger and his wife Natalie Elliott have bought a two-storey, near-beachfront Tamarama holiday home.
With panoramic ocean views, the $4.8 million purchase comes several months after selling their hillside 1920s Bronte Californian bungalow for $3.4 million.
Granger and Elliott had bought in Bronte after their earlier Tamarama house sold for $2.5 million to singer Tina Arena in 2008.
The couple and their three daughters Edie, Ines and Bunny now live in W2 London and seemingly don't harbour plans any full time return to Australia.
Holidays back home yes, along with return trips to oversee the stellar success of Bills Bondi, the latest local addition to his stable of restaurants around the world.
Having not deviated from serving ricotta hotcakes, sweetcorn fritters and his trademark creamy, almost mousse-like, scrambled eggs, there are now Bills cafes now in Japan, Hawaii, Seoul and London.
The Fleet Street press call him the sunny Australian chef who after making the move in 2012 to open Granger &amp; Co in Notting Hill has recently opened his third London restaurant at King's Cross on Pancras Square. 
The globe trotting Bill Granger got his training at the iconic La Passion du Fruit on Paddington's Oxford Street after hailing from Melbourne. 
The La Passion proprietors Chrissie Juillet and Jean-Claude Wane had that communal sense of a family kitchen table interaction at the cafe, which Granger replicated when he opened the original Bills in Darlinghurst in 1993, when he was just 24.
Granger's latest four bedroom purchase is opposite Mackenzies Beach overlooking the Bondi to Bronte coastal walk with ocean views.
It was sold through Pauline Goodyer at Goodyer Real Estate who marketed it as offering "the quintessential beach-side lifestyle."
With expansive covered entertainment terrace there is a spacious eat-in granite kitchen with stainless steel fittings. It was sold by the owner builder Sher family.
This article first appeared in The Saturday Daily Telegraph.
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Sunny Australian chef Bill Granger buys back in Tamarama

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The marketing of an original 1950s Harry Seidler-designed Warrawee house as a "knock-down" opportunity has caused consternation on Sydney's upper north shore. 
Set on a 1,847 sqm Finlay Road block, it is an extraordinarily intact timewarp. Just look at those colourful kitchen cupboards, all very retro.
"The home has loads of character but is in need of a full renovation or knock down, rebuild and capitalise on this sought after location," the Savills Cordeau Marshall marketing suggests. It featured in the 1992 Harry Seidler: Four Decades of Architecture book with Exley House having been proudly photographed on its 1957 completion by Max Dupain. 
The late Harry Seidler, who arrived in Sydney in the late 1940s from Vienna via England, Canada America, was a student of Walter Gropius who pursued the industralisation of home building for mass housing. Seidler is considered to be one of the leading exponents of modernism's methodology in Australia, the first architect to fully express the principles of the Bauhaus in Australia.
The three bedroom home, with ensuite wing added later, has been listed by the Exley family for October 10 auction. <a href="https://www.realestate.com.au/property-house-nsw-warrawee-120753293" target="_blank">Agents Carl and Donna Ferris</a> are suggesting $1.8 million plus for the house built for Water Board engineer Cecil Exley.
Finlay Road is a special for architectural devotees as it also has the Evatt House, also known as Rickard House I, a seminal work in organic modern architecture, the first house designed by Bruce Rickard for his own family in Sydney. 
This article first appeared in The Sunday Telegraph.
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Concern over fate of Harry Seidler-designed 1950s Warrawee home

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The RBA boss Glenn Stevens was again pressed today on housing affordability, especially for younger people, by some school children.
The issue has been asked at Mr Stevens at past House of Representative's economics committee meetings too.
He also noted it "turns out there was a lot more invested in [property] lending than we all knew in the past."
But he told the House of Representative's economics committee it had been good as economic growth was now slowing.
He also noted unemployment was more important than the ratio of investors/owner occupiers when it comes to housing stability.
He told the hearing the board may not be contemplating any further rate cut saying: "We're pretty content where we are now."
He was also asked about the volatility in the Chinese economy, noting there had been a "fabled hard landing that people have been talking about for years."
When asked on home buyer grants, he noted the solution to high property prices was more supply - not money that ends up with sellers.
Overall inflation was contained and it would take a very sharp fall in the dollar to push inflation up, he suggested.
Last month National Bank of Australia increased the value of mortgages on its investor loan book by nearly $30 billion, after reclassifying data it holds for reporting with the Australian Prudential Regulation Authority.
NAB reclassified previously reported data, which boosted the value of NAB's housing investor loans to $93 billion from the $66.6 billion previous notification.
Before the revision, NAB's investor loan mortgage book was around the same size of ANZ's investor loan book, at around $60 billion.
The big four institutions hold a combined $430bn worth of investor loans on their books. CBA holds $128 billion, while Westpac has the largest amount of investor loans, worth around $150 billion, according to APRA's latest figures.
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More invested in lending than we all knew: RBA's Glenn Stevens

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For years now I have contemplated how an investment banker would run the Australian economy and now we are about to find out with Malcolm Turnbull taking over the reigns as prime minister.
Straight after the news broke I posted a message on Mr Turnbull’s Facebook page – “Congratulations on becoming Prime Minister of Australia.If I can ask you to do one thing – could you please appoint Kelly O’Dwyer as Housing minister. It’s rather embarrassing that the Australian government does not have a Minister for this important portfolio.”
There are major dark clouds forming and what we might expect is being discussed by a few, and if we are proven correct this will be a major storm that will reverberate across Australia. The problem started back in 2008 when the then prime minister Kevin Rudd and his treasurer Wayne Swan changed the ratio permitting foreign buyers to purchase off the plan in Australia. The ratio was adjusted from 50 per cent to 100 per cent (which is where it currently sits) at that time I wrote that such a move was fraught with danger.
Take Sydney for example, where tens of thousands of new apartments have been sold off – the – plan, there now are grave concerns that the foreign buyers will walk away from the deposits and won’t settle. With interest we should be watching the stock market in China which has lost approximately 40 per cent in the last three months, where when we see stock market corrections money is then diverted into real estate – this time around this may not be the case. Then we see that volatility on the global equity markets in August was the highest since 2011.
The first signs of cracking in the residential market will be, when these new developments are completed, how many apartments that were sold off the plan are immediately placed back on the market. BIS Shrapnel recently reported that NSW is set to become Australia’s top home builder in 2016, having overtaken Victoria which has held this position since early 2000.
Should the foreign buyers spook then the new construction will in all probability come to a grinding halt where history shows prices start falling significantly due to an oversupply on the markets. Thanks to the overseas buyer ratio being doubled this spells double trouble, given what we have seen with the real estate investment markets has been unprecedented. Historically we have absolutely no measures on what may happen aside from expecting the worst.
We also see that APRA’s policy initiatives are now cooling the markets which may need some urgent critiquing given that if the property markets cool too quickly this will spook the foreign buyers in to a frenzy of defaults.
On the flip side we have the Australian government via the Australian Taxation Office (ATO) forensically examining all property transactions for existing homes that may have been illegally acquired – I predict this will be huge. There is approximately another 6 weeks left of the amnesty period before the ATO starts prosecuting.
Thus far this crackdown on illegal purchases has more than doubled to over 500 investigations and that’s before the amnesty period ends – predominately at this stage the ATO is relying on public tip offs. Treasurer Joe Hockey let the cat out of the bag this week when he commented “So we are getting on with the job of enforcing the laws. There has been no enforcement and no successful order for at least the last 20 years. But we have taken this decision to ensure that there is integrity in the foreign investment regime and that those people who unlawfully hold Australian residential real estate are caught.”
Going by that one must be thinking that this investigation is so huge that they are now looking back 20 years – which would lead to an unprecedented number of divestment orders in 2016. Should we see the off – the – plan investors defaulting it would not be smart for the integrity of Australian property prices to also run divestment orders on existing dwellings.
Another point that needs raising is that NSW is doing the major lifting in terms of the Australian economy as this is the hub for economic momentum. The Reserve Bank of Australia, APRA, ATO, lenders and elected politicians need to immediately start consulting property developers and industry specialists and start drawing up a battle plan.
Until a clearer picture is presented foreign ownership rates from 100 per cent need to be cut hard. So that’s why Malcolm Turnbull needs to appoint a Housing minister next Monday as he/she will have plenty of work to do given I see the property markets now on a “High Alert”.
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 64
• Number of houses on the market last week – 56
• Number of houses on the market this week – 52
• Number of apartments on the market this time last year – 44
• Number of apartments on the market last week – 49
• Number of apartments on the market this week – 51
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year –10
• Number of houses on the market last week – 6
• Number of houses on the market this week – 7
• Number of apartments on the market this time last year – 16
• Number of apartments on the market last week – 20
• Number of apartments on the market this week – 22
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 7
• Number of houses on the market last week – 2
•Number of houses on the market this week – 3
• Number of apartments on the market this time last year– 33
• Number of apartments on the market last week – 37
• Number of apartments on the market this week – 29
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Are foreign buyers about to ‘short’ our residential markets? Robert Simeon

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GUEST OBSERVER
China’s next Five-Year Plan is due to be formally approved by the National People’s Congress in March 2016.
One of the areas of focus is the role of China’s State-Owned Enterprises, generally viewed with suspicion by the West and also seen within China as bloated and in need of a clean-up.
The Five-Year Plans have become a flexible political tool in the hands of central leaders seeking to shape the behaviour and priorities of diverse ministries and local governments.
China’s Cabinet recently released the latest document in what will be a cascading series of plans and guidelines feeding into China’s policy settings between now and 2020.
The State-Owned Enterprise (SOE) Guidelines are part of tackling China’s larger economic reform challenge. This requires shifting the overall macroeconomic growth model from domestic investment (mostly infrastructure) and a focus on exports, to one of growth led by domestic consumption and an expanded services sector.
The guidelines are the latest stage of an SOE reform process underway since the 1990s, as the Chinese state-controlled economy has made way for a rapidly growing private economy sector.
<h2>The current state of SOEs in China</h2>
The words typically used to describe the SOE sector in China are “inefficient”, “bloated”, and “bulky”.
The sector has been slimmed down a lot over the past decades, but still comprises 110 conglomerates. SOEs accounting for around 60% of total revenue are overseen by the central government’s State Owned Assets Supervision and Administration Commission. And between 25,000 – 150,000 SOEs (depending on which definition of <a href="https://www.bloomberg.com/news/articles/2015-07-30/china-s-state-owned-companies-may-face-reform">“</a>state-ownership<a href="https://www.bloomberg.com/news/articles/2015-07-30/china-s-state-owned-companies-may-face-reform">”</a> is used) are controlled and managed by provincial, municipal and lower levels of government.
The larger SOEs maintain monopolies over key sectors of the economy (energy, mining, infrastructure) and smaller SOEs are characterised by low productivity and high debt levels. A lot of the problems and inefficiencies stem from the fact that the interests controlling SOE behaviour are not necessarily aligned with those of the wider economy or society.
<h2>Time for a clean out</h2>
Authorities have been consolidating and “cleaning up” SOEs for better resource allocation for a while now. China’s two major bullet train makers completed consolidation in the first half of 2015, while China Railway Corporation recently announced an asset-reorganisation with one of its subsidiaries.
Central authorities indicated earlier this year that Beijing would like mergers and acquisitions to result in a figure of around 40 conglomerates under the SASAC.
The real challenge will be in getting the Provinces to cooperate in cross-border mergers of provincial and municipal SOE assets. The ambitious Beijing-Tianjin-Hebei regional integration <a href="">blueprint</a> provides an important testing ground for getting different localities to cooperate, share and consolidate economic and social planning and resources.
<h2>Commercial vs ‘social’</h2>
Schools, universities, medical goods and service providers, and operators of public utilities (water, sanitation, energy, transport and communications) together form a huge and important part of the Chinese economy. It is important that they be run efficiently, but also important that they fulfil the social purposes for which they exist.
Providing equitable access to essential public goods and services means these firms cannot be expected to run on purely commercial considerations. And so the SOE guidelines indicate that SOEs will be categorised as either “commercial” or “public goods and services”, and dealt with accordingly. Commercial SOEs will be encouraged to become leaner, more efficient, and more market-oriented, while “social” SOEs will be encouraged to focus more on the quality of service provision.
<h2>Diversifying SOE ownership</h2>
A key part of making SOEs more efficient and more market-oriented is to allow private investors to purchase ownership stakes.
SOEs will be encouraged to bring in “various investors” through share-rights swaps, issuing new shares and/or convertible bonds and other means. Institutional investors in particular, including foreign ones, will be allowed/encouraged to buy stakes in SOEs, and SOEs will be allowed to experiment with employee share ownership schemes.
Oil and gas, electricity, railways and telecommunications have been identified as suitable for “limited” private investment: indeed, key energy companies Sinopec and National Petroleum Corp have already begun selling off parts of their operations.
While the Singapore Temasek model of state investment has been <a href="">cited</a>, strategic SOEs in China will never fit that model, but will remain under strict state (ie. Party) control.
Improved independent decision-making at board level will be encouraged by requiring the boards of all SOEs to have a majority of non-executive (external) directors. More professional managers will be employed, and a more flexible and market-based compensation system for SOE officers will link pay to company performance.
<h2>Obstacles to reform</h2>
The key obstacle to SOE reform will be overcoming “pushback” from entrenched interests at local, provincial and national government levels. Overcoming this obstacle is made particularly difficult because of the emphasis on leadership of, and control by, the Chinese Communist Party.
Reforming the Party, particularly to reduce corruption, is also an important part of the Five-Year Plan, but loosening the Party’s grip on control is nowhere in sight. The extent to which the politics of the 13th Five Year Plan remain compatible with its economic reform goals therefore remains to be seen.
Alice de Jonge is senior lecturer, International Law; Asian Business Law, Monash University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/alice-de-jonge-118840" target="_blank">here</a>.
 
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China’s grip still tight on state-owned enterprises

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GUEST OBSERVER
In Australian homes, reliable hot water supplies for taking showers or bathing the kids are taken for granted. But this has a significant cost – conventional hot water heaters can account for up to 30% of household energy use and can be significant carbon emitters.
One alternative is solar hot water, which can supply more than 90% of household hot water and reduce energy bills by 50-85%, as well as lowering carbon emissions.
Unfortunately, it is likely that households are not getting the most from their solar hot water systems. In Australia and overseas, there is evidence that the potential of solar hot water is not being realised.
So how can you can get the most out of your solar hot water system?
Missed opportunities to reduce energy use
Solar hot water systems use solar energy to heat water using the familiar roof-mounted solar panels. This water can then be stored in an insulated tank. While these systems can produce up to 90% of a household’s hot water needs, the system may need a boost with gas or electricity when the sun isn’t shining or hot water demand is high.
Moreover, an Australian study highlighted installation problems that led to “zero solar performance” or “dramatic underperformance”.
With this information in mind, and with our research already showing that being green is not always as straightforward as it may seem, we went out and talked to householders about their experience of owning a solar hot water system.
We assessed the efficiency of the systems themselves and found them to be highly variable. But the key thing we found was that people struggled to fit solar heating into household routines. While solar heating is conceptually simple, households often inadvertently heated water with electricity or gas instead of letting the sun do the work.
The task was made more complex by variable weather, electricity tariffs, high hot water demand by teenagers, and deeply ingrained habits. Families treated hot water systems as background “infrastructure” that they expected to deliver hot water regardless of circumstances.
The quality of the actual installations was also variable. Basics, notably pipe insulation, were often lacking or substandard. The most motivated households actively experimented with their solar hot water systems. But, after a few cold showers, significant numbers gave up and relied on mains energy to boost their system.
The result is that the energy and carbon savings potential of solar hot water is not being realised.
Eight tips to get the most from solar hot water
We argue that policy needs to look beyond installation and that installation practices need improving, but what can you do to get an effective installation?
First, seek out independent advice from sources such as local sustainability events and organisations. They can help you understand what suits your circumstances and what characterises an effective installation.
A good organisation is the Alternative Technology Association. They provide free advice to members, sell a solar hot water guide, and organise open house events where you can see and discuss domestic sustainability technologies.
Second, consider whether solar hot water is the best option. It may be that a hot water heat pump or an instant gas system is a suitable choice, depending on where you live, how much cloud cover you have, or what sort of building you are in.
Third, make sure all your hot water pipes are insulated, especially the pipes that go to and from the tank and solar panels. You typically need insulation to be 15 mm thick. Without proper insulation you could lose half the energy you are trying to collect.
Fourth, get a booster switch installed in a convenient place inside, so you can easily turn the booster off if there is plenty of sun, or on if it’s cloudy or you need more hot water.
Fifth, if you go solar, install a system that has a sufficiently large tank matched with a sufficiently large solar array for your needs. Water is very good at storing heat. A large tank could help you store solar energy for those rainy days.
Sixth, you may need to change electricity tariffs if your booster is electric, to ensure the sun gets a chance to heat the water before the electricity does.
Seventh, you may need to change your peak hot water use habits so that the tank water is at its coldest after morning use, after which the sun can then heat it during the day. The booster can “top up” overnight, ready for morning showers.
Eighth, before you install solar hot water, examine and discuss household expectations around hot water use. Will they need to change? Are members of your household prepared to make that change?
This may be the most profound change you can make, but also perhaps the most challenging.
 
Nicholas Gill is associate professor in Geography, University of Wollongong and can be contacted <a href="https://theconversation.com/profiles/nicholas-gill-112077" target="_blank">here</a>.
Chris Gibson is director, UOW Global Challenges Program &amp; Professor of Human Geography, University of Wollongong and can be contacted <a href="https://theconversation.com/profiles/chris-gibson-9277" target="_blank">here</a>.
Gordon Waitt is professor of Human Geography, University of Wollongong and can be contacted <a href="https://theconversation.com/profiles/gordon-waitt-191636" target="_blank">here</a>.
Lesley Head is director, Australian Centre for Cultural Environmental Research (AUSCCER), University of Wollongong and can be contacted <a href="https://theconversation.com/profiles/lesley-head-10224" target="_blank">here</a>.
Peter Osman is scientist, Energy Efficiency &amp; Renewables, CSIRO and can be contacted <a href="https://theconversation.com/profiles/peter-osman-191799" target="_blank">here</a>.
All are authors for The Conversation.
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Solar hot water giving you cold showers? Eight tips to warm you up

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.

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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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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."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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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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