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<p><span>Actor Cate Blanchett and director husband Andrew Upton have snappily sold their 1877 heritage listed Sydney home Bulwarra at circa $20 million. </span></p>
<p><span>They purchased the sandstone riverfront Hunters Hill trophy home in 2004 for $10.2 million, then renovated.</span></p>
<p><span>The celebrity couple are preparing to move overseas.</span></p>
<p><span>Bulwarra, on 3,642 square metres, has five bedrooms that open to a verandah overlooking the water. A master retreat is housed in a private wing</span></p>
<p><span>The property was <a href="https://www.kenjacobs.com.au/2330308/" target="_blank"><span>marketed through </span></a>through Christie's International in a campaign overseen by Sydney buyers' agency Sydney Slice. It has been reported Savills' Adam Ross was involved in the sale.</span></p>
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jchancellor-FAypfDUnLy

Cate Blanchett sells Hunters Hill riverfront

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<p>Housing co-operatives should be seen as a priority for expansion to assist in addressing housing affordability, according to the Business Council of Co-operatives and Mutuals' (BCCM) submission into the inquiry into Home Ownership.</p>
<p>Housing co-operatives are key players in the range of responses needed to address Australia’s housing affordability crisis, affirmed BCCM. </p>
<p>"A report by the Co-op has revealed that nearly eight in ten Australians aged between 19 and 29 are concerned about the level of mortgage debt they may face in their lifetime, and the prospect of ever being able to own a home.</p>
<p>"The current speculative model of housing ownership cannot deliver affordable housing for all. It is time to consider alternative ownership models and co- operative housing has proven to be a very significant opportunity for housing market reform. </p>
<p>"Co-operative housing can either be provided as rental housing or based on a wide range of co- operative ownership models. In general, co-operative housing provides long term, secure and affordable housing for people on low to moderate incomes." </p>
<p>Member participation directly reduces cooperative housing management costs, asserted BCCM in the submission to the House of Representatives Standing Committee on Economics. </p>
<p>"Recent benchmarking demonstrates that co-operative housing is the most cost effective form of social housing program. Community Equity New South Wales (CENSW) has estimated that housing co- operatives produce savings over ten years per 1000 properties of $4.07 million in comparison with other social housing sectors.</p>
<p>"Seed funding needs to be provided to specialist housing co-operative centres that can function as a central resource agency for housing co-operative development. </p>
<p>"The role of the resource agency would be to refine documentation for the various models, promote models to potential consumers and provide advice services to developing co-operatives. </p>
<p>"Existing co-operative housing providers could be funded to expand their educative role. </p>
<p>"Funding for this initiative could come from sources not limited to government but include stakeholders with an interest and commitment to the provision of affordable housing such as trade unions, customer owned banks, consumer-focused mutuals, consumer interest groups and member-owned super funds. </p>
<p>"Rental co-operative programs could be further expanded by capital funds being made available to develop new stock or alternatively through the transfer of existing social housing stock. </p>
<p>"A source for this funding could be through a combination of government seeding grants and commercial loans from financial institutions with an interest in developing new lending products in the housing loans market place. </p>
<p>"Collaborative partnerships are also possible with co-operative and mutual capital investment partners ranging from financial mutuals (another form of Co-operative) or member-owned super funds to community development finance institutions.<span style="line-height: 1.3em;"> </span></p>
<p>"Financial mutuals can also assist with affordable housing through the provision of affordable housing loans and a range of other consumer/member focused products. </p>
<p>"The financial mutual sector is a significant player in the provision of affordable housing finance. It is driven by member needs and concern for the community and will continue to support affordable housing in all its forms. </p>
<p>"Housing co-operatives are the quiet achievers in the housing sector. They have been highly successful in Australia and many other countries." </p>
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Co-operatives a consideration for housing affordability issue

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<p>There are indicators that home ownership is starting to decline, the Australian Housing and Urban Research Institute (AHURI) suggests.</p>
<p>However, Australia has maintained consistent rates of home ownership of around 68% since 1976. </p>
<p><span style="line-height: 1.3em;">"The composition of homeowners, those who own outright and those who are currently servicing a mortgage, has changed with houses under purchase now out numbering those owned outright.</span></p>
<p>"The last 20 years has also seen sharp growth of migration to Australia and this may have played a role in sustaining home purchase rates." </p>
<p><a href="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%206.45.14%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%206.45.14%20PM.png" alt="" width="820" height="519"></p>
<p>"The rate of home ownership is higher amongst older age groups, with 55-64 year olds maintaining around 80 per cent ownership rates over the last 30 years to 2011."</p>
<p> </p>
<p><a href="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%206.47.52%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%206.47.52%20PM.png" alt="" width="831" height="558"><span style="line-height: 1.3em;"> </span></p>
<p>In the submission to the House of Representatives Standing Committee on Economics, AHURI observed that home purchase has decreased mostly for those in the lowest income cohorts, particularly for those aged 24-35 years. </p>
<p>"Between 1981 and 2011 the rate of purchase for those in the lowest household income quintile fell from 62.7 per cent to 31.3 per cent.</p>
<p>"In interviews with 87 Indigenous people living in various forms of rental housing, AHURI research found that most saw home ownership as an economic burden even when income was assessed not to be a barrier for a quarter of households. </p>
<p>"Home ownership for some is a more complex due to the relationship with land and implications of individual ownership. </p>
<p>"A study of home-owners found that around 13% of owners ‘churn’ in and out of ownership while 9% permanently leave. There has been a reduced ability to maintain home ownership due to increased divorce rates and mortgage stress.</p>
<p>"Increasing numbers of homeowners are approaching retirement with mortgages, and a sizeable number of older mortgagees are dropping out of homeownership which is a flag for potential pressure on other areas of the housing system such as a need to access housing assistance." </p>
<p>Aspects affecting home ownership rates include the increase in house prices and increase in size and period of debt. There is also the positive side of wealth creation for home owners, but this does not happen without risk.</p>
<p>"AHURI research which looked at metropolitan Melbourne found that one in eight of all sellers lost money in real terms and that there is greater risk of making a loss for dwellings in outer urban areas where low to moderate income earners are most able to purchase, and if the dwelling is sold in the first three years. </p>
<p>"However, higher house prices—while aiding wealth accumulation for those who own or are purchasing—hinders access for aspiring first home buyers. </p>
<p>"AHURI research also indicates that owners are now more accustomed to using new flexible mortgage products to access their housing wealth, and so use that wealth as a financial buffer to meet needs over time."</p>
<p>AHURI believes that if supply does not match demand it can be a contributing factor to house price pressures and declining affordability.</p>
<p>"Low interest rates, lower unemployment combined with easy credit for housing, have worked together to increase demand. </p>
<p>"New household formation is a driver for demand for housing. Traditionally this has been seen as part of the ‘housing career pathway’ when partnering and leaving home or moving from private rental to home ownership. </p>
<p>"Immigration creates new households and therefore increases demand for housing. AHURI research suggests that migrants historically have had a higher purchase rate than native-born Australians. </p>
<p>"Population projections show that the rate of population increase is expected to be steepest among people aged 65 year and over and this will translate into a surge of singles living alone. </p>
<p>"Population ageing poses demands for smaller housing in nearby suburbs to enable downsizing and equity release.</p>
<p>"AHURI research found that difficulties faced by downsizers included availability of suitable housing, its cost and affordability, and the suitability of its location.</p>
<p>Evidence is varied on whether land release assists in reducing house prices. </p>
<p>"AHURI research has documented that connections between land supply and price, which can flow on to house price, are complex with many factors affecting both land and house prices. However, a well-run and timely land release policy can help with the supply of new houses.</p>
<p>"With a strong, nationally coordinated policy framework emphasising housing affordability and dedicated affordable housing creation, state housing policy and planning legislation then promotes affordability, and enables affordable housing creation, through: </p>
<ul>
<li><span style="line-height: 1.3em;"> system-wide approaches to facilitate land supply in preferred locations, by making planning processes more efficient and through targeted infrastructure     investment;</span></li>
<li><span style="line-height: 1.3em;"> better needs assessment and planning methodologies to forecast, monitor and respond to housing demand, supply and affordability trends;</span></li>
<li><span style="line-height: 1.3em;"> specific planning levers or mechanisms to secure land for new affordable housing development and retain existing levels of low-cost housing.</span></li>
</ul>
<p>"The proportion of new loans for investment housing is at a record high. Up until 2010, lending for owner occupied housing was tracking well above investment housing, however this trend has changed since 2010 after which lending for investment has continued to rise but housing finance commitments for owner occupation started to decline. </p>
<p>"AHURI research finds that stamp duty is found to impede access to home ownership because it tightens borrowing constraints.</p>
<p>"The provision of the First Home Owner Grant (FHOG) raises the rate of home ownership and accelerates ownership, but research finds it is regressive in impact as it primarily favours those that would have eventually become home-owners. </p>
<p>"Younger (less than 45 years of age) owner-occupiers, most of whom have relatively low equity in their dwellings and face high mortgage debt, are relatively disadvantaged by the structure of tax expenditures because of their inability to deduct the costs of purchasing their home from the income it produces. </p>
<p>Recent AHURI research examined government spending related to housing in Melbourne for the 2011–12 financial year. The total housing expenditure figure for Melbourne was $5.2 billion. </p>
<p>"Public housing was the smallest proportion of this figure, at around $107 million or 2 per cent of the total; the First Home Owners Grant, for both new and existing properties, had an outlay of $277 million, 5.3 per cent of the total. </p>
<p>"Rental assistance had a total of $500 million (9.6% of the total). These expenditures were eclipsed by the negative gearing ($861 million) and capital gains tax exemption ($3.5 billion) estimates, which comprised 17 per cent and 67 per cent of total outlays respectively."</p>
<p><a href="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%206.54.55%20PM.png" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span style="line-height: 1.3em;"><img src="/images/2015/09/02/Screen%20Shot%202015-09-02%20at%206.54.55%20PM.png" alt=""> </span></p>
<p> </p>
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Stamp duty constraints impede home ownership: AHURI

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<p><span>Childcare magnate Martyn Downs has purchased Bowral's recently refurbished Royal Hotel.</span></p>
<p><span>It is where the Southern Highlands rich and famous are served their local sauvignon blanc by the new licensee Peter Dean and wife Kate, whose family are the longtime publicans at the Lord Dudley in Woollahra.</span></p>
<p><span>The departing Royal landlords, the Feli family had wanted $5 million plus for the past two or so years.</span></p>
<p><span>It is not Downs' first pub, but having a 70 acre black Angus cattle farm at Bundanoon, this one will be handier than his previous Moree venture.</span></p>
<p><span>Downs was attracted to the main street acquisition given the inclusion of shops, restaurant and accommodation in the popular tourism destination. </span></p>
<p><span>"It is the first iconic building you see when you arrive in town," Richardson &amp; Wrench selling agent Mick Maloney noted.</span></p>
<p><span>Geoff Harvey, the fondly remembered musician from Channel 9's Midday show, is among the regulars at the pub, and also teaches music lessons as one of the seven shop tenants.</span></p>
<p><span>Downs' wife Helena, their five daughters - and one son - are always keen for a shop given the likes of Seed, Witchery and Rodd &amp; Gunn emerging on the main strip in the town where Harris Farms grocery has now expanded for the fourth time.</span></p>
<p><span>The Downs couple also have the eight bedroom holiday rental property, La Belle Vie at Bundanoon.</span></p>
<p><span>Downs has been an operator and developer of childcare centres since 1992, seizing the opportunity of the past 18 months to sell some of his leasehold businesses into the listed G8 group while keeping the freehold.</span></p>
<p><em>This article first appeared in The Saturday Daily Telegraph.</em></p>
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Martyn Downs buys Bowral's Royal Hotel

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<div>Acclaimed architect Virginia Kerridge has listed her own South Coogee home having bought nearby. The house with apartment was completed in 2011 after a six year build by Andre Fombertaux in the beachside suburb. </div>
<div> </div>
<div>After paying $1.2 million in 2004, Virginia Kerridge gradually transformed her 1930s duplex into a pair of contemporary dwellings cocooned in a warm, textural palette of blackbean timber, polished concrete and raw fibre-cement.</div>
<div> </div>
<div>It all sits within gardens designed by landscape architect Jane Irwin cultivated by John Dimitric over the past decade.</div>
<div> </div>
<div>"The Kerridge House + Apartment represents an important chapter in the life of an intuitive Australian architect," says Marcus Lloyd-Jones, the listing agent from Modern House. </div>
<div>There's even a small piece of Kerridge history – the coach rail from her breakthrough 1995 Taylor Square warehouse project, repurposed as a handrail at the <a href="https://www.modernhouse.co/listings/kerridge-house-apartment/" target="_blank">243 Rainbow Street property</a>.</div>
<div> </div>
<div>
<div>The 1995 Taylor Square, Darlinghurst project saw her secure a merit recommendation in the state's major architectural awards conducted by the Institute of Architects. An earlier project was the tiny Potts Point eatery, La Buvette.</div>
<div> </div>
<div>There was also a late 1980s block of four apartments overlooking Fairy Bower at Manly. But mostly deluxe domestic commissions since Kerridge, who graduated from university in 1984.</div>
<div> </div>
<div>By the late 1990s Virginia Kerridge's works prompted the editor of Architecture Australia, Davina Jackson, to describe her as "the leading woman private practitioner in Sydney."</div>
<div> </div>
<div>She has since been regularly recognised in awards including as inaugural winner of the Houses Awards 2011 Australian House of the Year. Her clients have included broadcaster Merrick Watts in the inner west and at Kingscliff on the far north coast for Harvey Norman managing director Katie Page.</div>
<div> </div>
<div>Photos of her South Coogee house by professional photographer Michael Nicholson have been posted this week to go with the <a href="https://realestate.com.au/" target="_blank"><span style="color: #1155cc;">realestate.com.au</span></a> marketing campaign.</div>
<div>
<div> </div>
<div>
<a href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-south+coogee-120531433" target="_blank">The house and apartment</a> look directly onto Bangor Park.</div>
<div> </div>
<div><em>This article first appeared in The Sunday Telegraph. </em></div>
</div>
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Architect Virginia Kerridge lists South Coogee duplex

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<div>The expatriate Sydney property developer Nati Stoliar has been sentenced to two years jail in the United States, after he pleaded guilty to fraud under the US Clean Air Act.</div>
<div> </div>
<div>His Nevada home has been sold after he was ordered to pay more than US$1.4 million in restitution and to forfeit $4 million in cash in a biofuels fraud case.</div>
<div> </div>
<div>The 64 year old Stoliar, who pleaded guilty in mid-2014 to the fraud, faced a maximum sentence of 20 years in prison.</div>
<div> </div>
<div>The FBI announced earlier this month Stoliar had been sentenced to 24 months in prison along with three years of supervised release. It was for his role in an illegal scheme to generate fraudulent biodiesel credits and to export biodiesel without providing biodiesel credits to the United States. </div>
<div> </div>
<div>As a Sydney property developer Nati Stoliar owned two of the trophy homes of Sydney, Boomerang at Elizabeth Bay and then Villa del Mar at Point Piper.</div>
<div> </div>
<div>His six bedroom, six bathroom US home in Henderson, Nevada was sold under order of forfeiture at US$1,140,000.</div>
<div> </div>
<div>Stoliar's business partner James Jariv was sentenced in federal court in Las Vegas to ten years in prison. Records show other items forfeited included a gold Bulgari chronograph and a diamond tennis bracelet.</div>
<div> </div>
<div>Under the 2009 scheme, Stoliar and his co-defendants were alleged to falsely claim to import, purchase, and blend more than 4.2 million gallons of biodiesel.</div>
<div> </div>
<div>They then allegedly sold the fraudulent RINs (regulatory information notices) generating more than $7 million. </div>
<div> </div>
<div>It was alleged Stoliar and Jariv instructed tanker truck drivers to drive back and forth across the U.S.-Canada border, claiming to be importing biodiesel into the United States and exporting feedstock to City Farm in Canada.</div>
<div> </div>
<div>The trips would generate credits paperwork purporting to show biodiesel production and importation.</div>
<div> </div>
<div>Accounts were utilized in Nevada, Canada and Australia, and transactions were investigated by the U.S. EPA Criminal Investigation Division and the FBI, with assistance from the U.S. Secret Service and the Department of Homeland Security. </div>
<div> </div>
<div>Following his indictment, Stoliar’s arrest was sought by the United States. Located in Poland,<span style="line-height: 1.3em;"> Stoliar returned to the United States to surrender for arrest.</span>
</div>
<div> </div>
<div>James Jariv and Stoliar then both pleaded guilty to one count of conspiracy, one count of conspiracy to engage in money laundering, two counts of wire fraud and one count of making false statements under the Clean Air Act. </div>
<div> </div>
<div>“This was an egregious scheme to defraud fuel suppliers, the United States, and a program designed to strengthen our nation’s petroleum independence and improve our air quality” said assistant attorney general John C. Cruden for the Justice Department’s Environment and Natural Resources Division.</div>
<div> </div>
<div>“We will not tolerate such fraud and will vigorously prosecute those who put their own enrichment above our nation’s interests.”</div>
<div> </div>
<div>The image above is of Sydney trophy home <span><span>Villa del Mare, which Stoliar built in the late 1990's.</span></span>
</div>
<div> </div>
<div><em>This article first appeared in The Sunday Telegraph.</em></div>
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Expatriate Sydney property developer Nati Stoliar jailed

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<p><span>Mark Ainsworth, of the Aristocrat pokie clan, is set to emerge as the $7.55 million buyer of a trailblazing Surry Hills warehouse residence.</span></p>
<p><span>Gordon Youett and Kerry Yates undertook one of Sydney's earliest industrial conversions in the early 1970s. It last sold in 2004 at $2.5 million to Michael Hayes. </span></p>
<p><span>It still has its heart-shaped swimming pool where Jackie Collins launched her blockbuster novel Hollywood Wives in the early 1980s.</span></p>
<p><span>Fashion designer Stuart Membery bought it in 1987 for $750,000 selling later at a heated auction for $1.16 million to his ex-business partner Michael Watson. </span></p>
<p><span>These days it has 52 solar panels that generate $6,000 annual income.</span></p>
<p><em>This article first appeared in The Daily Telegraph.</em></p>
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Mark Ainsworth buys Surry Hills trophy conversion

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<p><span>There was just the one bid for 14 St Georges Court Toorak, which sold last weekend for $5.5 million plus. </span></p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-toorak-120386821" target="_blank">14 St Georges Court, Toorak </a>was offered through Kay &amp; Burton at $4.6 million plus.</p>
<p><span>Auctioneer Gerald Delany had a hand in the sale for the fourth time over the past three decades.</span></p>
<p><span>The auction opened with a $4.8 million vendor bid for the four-bedroom home with wall of Manchurian pears.</span></p>
<p><span>The European villa attracted a sole $4.85 million bid which saw it passed in.</span></p>
<p><span>It last sold in 2002 at $2,615,000. Before that at $2.1 million in 2001, then $1,245,000 in 1991 and $236,000 in 1980.</span></p>
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One bid St Georges Court, Toorak sale

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<p><span style="line-height: 1.3em;">Expanding Australian retailer Cotton On Group is to open 150 stores in the lead up to Christmas.</span></p>
<p><span>It is part of its target to add 570 new stores over the next three years internationally.</span></p>
<p><span>"Between now and 25 December, we’ll be opening 153 stores globally, which equates to more than one new store per day," Cotton On Group CEO Peter Johnson told <em>Ragtrader</em>.</span></p>
<p><span>Currently, the group has 20,000 team members across 17 countries.</span></p>
<p><span>In Australia, the Group will be focusing on New South Wales. </span></p>
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Cotton On wants to add 570 stores across the globe

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<p><span>Banks customers are changing their investor home loan to an owner-occupied loan, after recent interest rate rises.</span></p>
<p><span>Many borrowers have been living in properties that they previously rented to tenants.</span></p>
<p><span>Their bank had not been aware they are now owner-occupiers.</span></p>
<p><span>For the first time since the late 1990s, banks are now charging housing investors higher interest rates than owner-occupiers, part of their response to APRA's concerns to quell the housing market overheating.</span></p>
<p><span>Westpac and ANZ Bank say a growing number of these borrowers are now contacting them to prove they are in fact owner-occupiers.</span></p>
<p><span>Westpac confirmed to Fairfax Media customers had contacted it to change their loan classification from housing investor to owner-occupied since it announced it would raise interest rates for investors by 0.27 percentage points in July. </span></p>
<p><span>ANZ Bank also confirmed the trend.</span></p>
<p><span>National Australia Bank has not had the same trend, as its rate rise was for interest-only customers rather than investors. </span></p>
<p><span>But an NAB spokesman confirmed some customers had switched into principal and interest loans. </span></p>
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Trickle starts swapping from investor to home loan to lower interest rates

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.</p>

<p>"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.</p>

<p>"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.</p>

<p>"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.</p>

<p>"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360975]</p>

<p>While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.</p>

<p>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.</p>

<p>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.</p>

<p>The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.</p>

<p>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.</p>

<p>The city's entrepreneurial culture is also translating into business growth.</p>

<p>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.</p>

<p>Development activity remains another key indicator of confidence.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=112024 project_image_fid=343235]</p>

<p>Importantly, the report notes the next phase of investment will need to extend beyond residential development.</p>

<p>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.</p>

<p>Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365786]</p>

<p>Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.</p>

<p>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.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372743]</p>

<p>Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.</p>

<p>"What we are seeing is a shift in how people define value in property," Bakir says.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372744]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150414 project_image_fid=372742]</p>

<p>A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.</p>

<p>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.</p>

<p>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.</p>

<p>Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.</p>

<p>[smartcode_project_cta:default project_id=150414]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.</p>

<p>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.</p>

<p>"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.</p>

<p>"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."</p>

<p>Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.</p>

<p>"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.</p>

<p>"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."</p>

<p>Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.</p>

<p>"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.</p>

<p>"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p>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.</p>

<p>"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.</p>

<p>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.</p>

<p>Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.</p>

<p>"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.</p>

<p>"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."</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372212]</p>

<p>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.</p>

<p>"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.</p>

<p>"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372227]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372225]</p>

<p>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.</p>

<p>The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372222]</p>

<p>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.</p>

<p>Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.</p>

<p>"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.</p>

<p>The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.</p>

<p>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.</p>

<p>Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.</p>

<p>"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.</p>

<p>"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."</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=146717]</p>


Lowe Living launches Jardin House in Camberwell

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6395]</p>

<p>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.</p>

<p>Rothelowman says the site itself shaped much of the architectural response.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6399]</p>

<p>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.</p>

<p>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.</p>

<p>Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=353235]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6390]</p>

<p>“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.”</p>

<p>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.</p>

<p>ALAND has commenced construction, and is expecting a completion date in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


Jonathan Chancellor

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