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The Kew abode of Slater &amp; Gordon managing director Andrew Grech has been listed for sale. It was bought for $4.51 million in 2008 in his wife, Daniela's name.
<a href="https://www.domain.com.au/for-sale/25-barry-street-kew-vic-3101-2012186947?sp=0" target="_blank">The five bedroom, five bathroom mansion</a> sits with 1800 square metres of Paul Bangay-landscaped gardens on one of Studley Park's finest avenues.
The renovated Victorian mansion is marketed as a collaboration between Stephens &amp; Co Architects and Tania Di Lizio interior designers.
The Australian Financial Review suggests it's expected to sell for $10 million plus.
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jchancellor-FAypfDUnLy

Slater & Gordon managing director Andrew Grech lists in Kew

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In its submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership in Australia, the Department of the Treasury reminds that state and territory governments have the primarily responsibility in housing supply. Removing regulatory impediments, land use and housing infrastructure policies is what improving housing supply is about.
"Reform addressing states and territories’ planning and land supply policies is not a new area of work. The Productivity Commission Inquiry into First Home Ownership in 2004 noted the need for state and territory governments to have appropriate land release strategies in place and to improve the efficiency and effectiveness of planning and development policies. 
"Reform in this area has also been attempted previously. In July 2012, the Council of Australian Governments committed to the recommendations of the Housing Supply and Affordability Report (HSAR), which included improving planning, development and rezoning processes, and the release of land."
The demand for housing has increased along with the population. On the other hand, dwellings completion have not followed the population growth and remained constant over the past 15 years. The insufficient housing supply appears to have driven the increase in the dwelling prices.
"Housing is the largest asset class owned by Australian households, and is therefore a key driver of saving decisions. 
"Home ownership rates are relatively uniform across Australia with the exception of the Northern Territory. South Australia recorded the highest home ownership rate in Australia at 72.3%, with Northern Territory recording the lowest rate at 53.2%. 
"Home ownership rates in Australia are higher than comparable countries like the United States, United Kingdom, and New Zealand and a little below Canada. Rates of home ownership in some countries, such as Germany, are considerably lower."
"Dwelling investment accounts for around 5.5% of GDP in Australia. However, it has been highly cyclical in the past and has had significant impacts on GDP growth. 
"Between 2002 and 2012 there were two periods of strong increases in dwelling prices with price growth peaking in late 2007 and early 2010, but the supply response was muted compared with past cycles. 
"The number of building approvals for dwellings rose 17.6 per cent through the year to May 2015, implying a large stock of work yet to be completed. Reflecting the pipeline of work pending, the 2015-16 Budget forecasts dwelling investment to grow by 6 1⁄2% in 2015-16 and 41⁄2% in 2016-17. Dwelling construction is expected to directly contribute 0.3 percentage points to growth in both 2014-15 and 2015-16. 
"While construction is growing more rapidly in New South Wales than Victoria, Victorian construction is starting from a higher level, so the supply of new dwellings has been higher in that state over the past decade 
"Data suggest that there is still significant scope to increase the total supply of housing. National rental vacancy rates have been rising slowly since 2007 but remain low at 2.7% in the March quarter of 2015, well below the previous peak of 4.7% in 2002 
"Despite this, rental yields are low by historical standards. Net rental yields for three bedroom homes have fluctuated between 3.2% and 3.5% since late 2009 and are currently 3.3%. Low rental yields are a consequence of house price growth, which has outstripped growth in rents for most of the past two decades. 
"Rental yield is the average across Australian capital cities and is calculated by dividing net annual rental income by the median price. It does not take capital growth into account.
"National dwelling prices rose by 9.8% over the year to June 2015, a little below the peak reached in the middle of 2014.
"Price growth has been concentrated in Sydney and to a lesser extent, Melbourne. Dwelling prices in Sydney grew 16.2% in the year to June 2015, and by 10.2% in Melbourne." 
"In Sydney, price growth in the year to May 2015 varies between 9.3% in the Eastern Suburbs and 20.7% in Outer South Western Sydney. Of the 14 subdivisions that cover Sydney, price growth is stable or moderating in 10. 
"Melbourne price growth in the year to May 2015 varies between -0.2 per cent in Melton-Wyndham and 17.7% in Eastern Middle Melbourne, but 11 of the 16 subdivisions are experiencing growth between 3.3% and 6.8%. The majority of subdivisions in Melbourne have had steady price growth at current levels for the past year." 
Distribution of Home Ownership 
"The home ownership rate among households headed by a person aged 25 to 34 has fallen from 52.2% in 1995-96 to 42.0% in 2011-12, while for households led by a person aged 35 to 44, the rate has fallen from 72.9% to 62.1% over the same period. Ownership rates have been steadier for older age cohorts.  
"The proportion of loans being approved to first home buyers' is currently around 15%.This is slightly below the average over the past five years of 17.0%, and below the average of 21.6% in the second half of the 1990s. 
"The number of Australians buying a home for the first time has averaged around 4 per 1,000 people over the past five years, compared with around 5 per 1,000 people in the second half of the 1990s. 
"The two key factors influencing the purchase of a first home are savings for a deposit and having sufficient income to service a mortgage. 
"Since 2000, investors have generally accounted for between 30 and 40% of all housing finance approvals. However, during periods of strong price growth, investors tend to represent a larger proportion of financing, particularly in New South Wales."
Long-term macroeconomic drivers 
"Over the past 20 years annual net overseas migration has contributed between 0.3% and 1.5% to annual population growth. Net overseas migration grew strongly between 2006 and 2008 with the contribution of net arrivals peaking at 1.5% in 2008. 
"Net migration contributed 0.8% to annual population growth in the year to the December quarter 2014. Annual population growth rose above 1.3% for the first time since 1991 in 2006 and has remained above this level. 
"During the 1980s and 1990s migration flowed out of New South Wales and Victoria and into Queensland. The outflow from Victoria reversed in the mid-1990s, while the outflow from New South Wales intensified around 2001. Net interstate migration to Queensland has fallen from around 37,000 in 2002 to 6,000 in the most recent year (up to the December quarter 2014). 
"Net interstate migration to South Australia has been negative for most of the past 30 years. Western Australia has generally experienced inward interstate migration, although this flow fell sharply over the past two years and has been negative over the 3 quarters to December 2014, reflecting developments in the resources sector. 
"Overall, the rate of interstate migration in Australia has typically had a smaller influence on state populations than either natural increase or overseas migration. 
"Since 2001 the average size of households has remained steady at 2.6 people indicating a slowdown in the rate of household formation. 
"The long-term supply of dwellings in Australia is determined by the availability of land and redevelopment opportunities and the underlying capacity of the construction sector. 
"Data on the availability of land suggest that residential land releases have been declining over the past 15 years. This is consistent with a greater focus on the redevelopment of land closer to city centres, but also highlights the lack of growth centres outside of capital cities, with land release declining faster in regional areas."
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Treasury's submission to Aussie home ownership

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Interior designer Lisa Tonkin and her husband, Phil have listed their Armadale home with $4.5 million plus hopes.
The renovated Victorian has been featured in the Vogue Living magazine.
The four-bedroom, three bathroom home comes with a self-contained guest wing.
Marshall White agent Sally Connell is taking <a href="https://www.realestate.com.au/property-house-vic-armadale-120402141" target="_blank">2B Erskine Street</a> to auction on August 29.
Tonkin has also designed homewares collections under her Lisa T brand for Target.
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Style hunter Lisa Tonkin lists Armadale trophy home

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An entire Castle Hill cul-de-sac is up for sale in one line, as The Hills comes alive with prospective apartment site amalgamations.
All eight neighbours on Poplar Court have united in the hope their early 1970s homes will be snapped up in one lot by a developer.
Totalling 6472sq m, the site is being marketed as a walk to the future Castle Hill train station of the North West Rail Link.
While Gwen Hughes has lived in her Poplar Court home for decades, others — including the development push co-ordinator Leah McGinley — bought just five years ago.
Castle Hill, 26 km northwest of Sydney CBD, has about 10 other known proposed development site offerings, all expecting approvals which will kick-start the likely dramatic change that will coincide with the train’s arrival.
“Own the Street!,” advertises LJ Hooker estate agent Brian Caba, who has the six Poplar Ave houses plus the two bordering Cecil St listed in conjunction with Harcourts agent Steve Cole.
“We want to be among the first out,” Ms McGinley said of the decision to list.
“We want to beat the rush as every man and his dog will be trying to sell sites.”
<img src="https://cdn.newsapi.com.au/image/v1/c670bf61f190d5a3e6735f45e6e4d86b?width=650" width="650" height="366">
Mr Caba has led the marketing of the amalgamated sites including 20 neighbours on Middleton, Dawes and Hughes Aves.
They fall within the state government’s Urban Activation Precinct around the North West Rail Link, which is due to start running in 2019, or even possibly ahead of time in 2018.
“I’ve got four sites and am working on another 15,” Mr Caba said.
“Castle Hill is going to be like Chatswood.”
The aim of the state government’s program is to encourage developers to add to the city’s housing supply by building apartments near new and exisiting transport hubs.
While the value of the sites could depend on the details yet to be released by the Hills Shire Council, sellers and agents hope some developers are keen enough to take early positioning.
Castle Hill has been designated an urban activation precinct which will spark a rush of group sales.
Already five houses on Garthowen Cres netted $20 million for their owners last year.
<div class="w_ad_mbl_rectangle_article-middle">Castle Hill’s median house price is at a record $1.2 million, according to CoreLogic RP Data, with Mr Caba saying typically up to three times as much could be achieved from selling to developers.</div>
House prices across the suburb have increased from $780,000 in early 2013.
Late last year many Castle Hill residents attended meetings on potential prospecting by developers who advised 4000sq m plus was needed for highrise apartments, or about 1800sq m plus for townhouses.
It was after the meeting that Ms McGinley decided to make her neighbourhood’s first mover advantage.
“We are making owners into multi-millioniares,” Mr Caba said.
Despite the likely real estate windfall, the push is also causing fractured friendships between neighbours, even feuding over whether to participate and at what share of the windfall.
There is also concern at the construction turmoil that will beset the suburb in future years.
While Castle Hill is currently in early overdrive, the highrise trend is tipped for other areas such as Cherrybrook, Frenchs Forest, Glenhaven, Dural, Kellyville and Rouse Hill which could all face something of a lesser transformation.
This week 10 owners in St Leonards have put up their homes for sale after Lane Cove Council approved the South St Leonards masterplan to increase dwelling construction.
This article was first published in the Daily Telegraph.
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Entire Castle Hill cul-de-sac up for sale in development precursor

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Dr Joe Pollak, of the Men's Medical Clinic, has emerged as the mystery $264,000 buyer of the record-breaking Potts Point residential car space.
Set in somewhat dated 1960s Macleay Street block, The Chimes, the price even ranked a mention in the current federal parliamentary hearing into home ownership given the clash of egos stellar auction result. 
The 62 year old Dr Pollak is an inner city property resident and investor.  
His 26 square metre car space is the longer then normal, apparently giving him the hope of tandem parking.
Specializing in the treatment of impotence since 1994, Dr Joe Pollak bills himself as one of Australia's most experienced mens' health practitioners having seen over 65,000 men.
This article was first published in the Saturday Daily Telegraph.
 
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Dr Joe Pollak buys $264,000 Potts Point car space

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Sydney's annual growth rate sits at 18.4% for the year to July, the highest on record since 2002, according to CoreLogic RP Data's head of research Tim Lawless.
In the Sydney Housing Market video for August he said one factor contributing to the higher value is a short supply of homes for sale, adding currently listings in Sydney are down on average.
"In Sydney we are currently tracking approximately 18,150 advertised property listings, which is historically well below average, he said. 
"To provide some context, in late 2011 when market conditions were relatively soft there were slightly more than 40,000 homes available for sale across the Sydney market."   
Click <a href="https://www.propertyobserver.com.au/https://vimeo.com/135932427" target="_blank">here</a> to see the video.
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Sydney annual growth rate highest since 2002: CoreLogic RP Data

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National Australia Bank has 40 postcodes across the country where it reckons business and personal loans are at higher risk of default.
These locations over rely on single industries for growth, have higher unemployment, and or property prices that have run too hard. 
The chief risk officer of National Australia Bank, David Gall, won't pinpoint any the locations among Australia's 2500 postcodes.
But admits there are 40 where NAB is conducting its more stringent assessment of loan applications, including increasing the amount of equity that its borrowers require.
"We do have higher-risk postcodes and we make calls on what we think is the appropriate loan-to-value [LVR] ratio in those higher-risk postcodes," Mr Gall told the Australian Financial Review.
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<div>"One of the things that we definitely factor in is where there is actually higher unemployment, or a risk of higher unemployment, given the reliance on single industries for a town or region. </div>
<div>"We will also look very closely at areas that have had very dramatic increases in property values to consider what is the right ongoing LVR ratio as well."</div>
<div>
<h2>As NAB would not disclose what postcodes are on its watch list, Martin North, principal at Digital Finance Analytics, analysed susceptible postcodes for the AFR.</h2>
<h2>The highest-risk postcodes, according to DFA, are </h2>
<h2>2902 (Kambah in Canberra); </h2>
<h2>7017 (Grasstree Hill, Honeywood, Old Beach, Otago and Tea Tree in South Tasmania); </h2>
<h2>5731 (Leigh Creek and Lyndhurst in South Australia),</h2>
<h2>5134 (Cherryville and Montacute in Adelaide),</h2>
<h2>4128 (Shailer Park and Tanah Merah in Brisbane),</h2>
<h2>2334 and 2343 (various suburbs in the Hunter Valley, north of Sydney).</h2>
<h2>Darwin (909) also appeared on the DFA list, as does Gladstone Park and Tullamarine in Melbourne's north (3043).</h2>
</div>
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David Gall said NAB supported existing customers in the 40 areas because while they might be higher risk, "many remained good customers."
NAB last week said its charge for bad and doubtful debts for the third quarter fell by 15 per cent to $193 million, adding that credit quality at NAB is controlled by applying interest rate serviceability buffers of at least 2 per cent higher than the current rate.
David Gall said the level of bad debts were likely to tick up in the future, although when was uncertain. 
"Whether we are at the low point or not, we must be pretty close to it," David Gall said. 
"When you look at a historical sense, these are very low levels of impaired assets and bad and doubtful debts that we are seeing at the moment.
"So my expectation is we are not going to see a further tick down or improvement.
"We are hoping for the current benign conditions to continue for some time.
"But ultimately, bad and doubtful debts will be a factor of the Australian economy and how it performs overall." 
Pressed further Martin North said postcodes in NSW that banks would be wary about include Blackville, Caroona, Colly Blue, Pine Ridge, Quirindi, Spring Ridge and Wallabadah (2343) in the state's north-west and Greta in the Hunter (2334).
He also pointed to Riverstone (2765), Mount Annan (2567), Auburn (2144), Blaxland (2774), Chipping Norton (2170), Berala (2141) and Bass Hill (2197) as being the highest risk suburbs for defaults in Sydney. 
In Melbourne, the postcodes North says are most at risk of default are Aberfeldie, Essendon and Essendon West (3040); Gladstone Park, Gowanbrae and Tullamarine (3043); Pascoe Vale (3044); Belgrave and Tecoma (3160); Mount Evelyn (3796); Endeavour Hills (3802); and Berwick and Harkaway (3806). 
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NAB won't pinpoint its list of Australia's 40 most vunerable property postcodes

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GUEST OBSERVER
The Australian economy is going through a period of transition. The mining investment boom is coming to an end, the terms of trade has fallen sharply and the AUD has been trending lower.
The weaker local unit is largely the result of the decline in Australia’s terms of trade. Since mid-2014, the AUD has fallen some 25% against the USD and 16% on a TWI basis. Over the year to June-2015, the terms of trade is estimated to have declined by 15%.
<a href="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.07.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.07.11%20PM.png" alt="">
The decline in the AUD is a welcome development for sectors of the economy with a high export propensity or high import intensity. Tourism is one such sector. A lower AUD provides assistance to the Australian tourism industry in essentially two ways: (i) it encourages international holidaymakers to visit Australian because it reduces the relative cost of a trip; and (ii) it makes a domestic holiday more attractive to Australian residents because the relative cost of an overseas holiday rises.
<a href="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.08.23%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.08.23%20PM.png" alt="">
How important is tourism to the Australian economy?
Tourism has long been an integral part of the Australian economy. The industry accounted for 2.7% of GDP in 2013/14 ($43.4bn), down a touch from 2.8% of GDP in 2012/13. By way of comparison, the tourism sector is a little bit larger than the agriculture sector, as a share of GDP. It is Australia’s third largest export and the largest services export.
<a href="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.10.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.10.28%20PM.png" alt="">
More importantly for the Australian economic story, the tourism sector employs around half a million workers, which represents a significant 4.6% of total employment. Tourism’s share of total employment is greater than its share of GDP because it’s more labour intensive than other industries (as distinct from capital intensive industries like mining production). Tourism industry workers largely comprise those employed in the sectors of accommodation, cafes, hotels, transport, travel agencies, retail trade and education and training.
<a href="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.15.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.15.26%20PM.png" alt="">
In recent years, however, it hasn’t all been smooth sailing for Australia’s tourism sector. Since the GFC, the sector’s share of the Australian economy has declined a little (down from 3% of GDP in 2007/08). The small fall is largely the result of the slowdown in the global economy, which has a negative impact on the number of inbound visitors and also the elevated level of the AUD. There is little that policymakers can do on either of those fronts. But as key export commodity prices have fallen, which has been the key factor in the decline in the AUD, the tourism sector has benefited.
How does the level of the AUD impact on tourism in Australia?
In a nutshell, a lower AUD is positive for the tourism sector. It benefits both the domestic tourism sector and also the international tourism sector. The recent trends in the AUD and tourism flows confirm that the lower AUD is having a positive impact on the Australian tourism sector. Since mid-2014, the ratio of arrivals to departures has gradually lifted. Or put another way, growth in the number of arrivals has outpaced growth in the number of departures. Over the same period, the AUD has fallen some 25% against the USD and 16% on a TWI basis.
The monthly trade balance data paints a similar picture. Since early-2014, tourism related service credits have been larger than tourism related service debits. In other words, the monthly tourism trade balance has moved into surplus. In our view, this will be the new norm.
Our forecasts have the AUD drifting a little lower over the next 12 months (both compared to the USD and on also on a TWI basis). On that assumption, the tourism sector will receive further support from the level of the exchange rate, particularly given there is a lagged effect between changes in the level of the currency and holiday-related decisions. The lag represents the timing differential between booking a holiday and taking it. We put this differential at 3-6 months. So the tourism sector’s share of the Australian economy and its contribution to growth is set to lift over the next couple of years.
<a href="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.27.37%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.27.37%20PM.png" alt="">
 
Where will the tourists come from?
 The lower level of the AUD means that domestic tourism will receive a boost as more Australian residents holiday locally rather than overseas. Equally, the lower AUD will boost the number of international holidaymakers visiting Australia.
Tourists from Asia, and in particular tourists from China, are the major growth area for Australian tourism exports. In 2014/15, the number of short-term arrivals from China to Australia rose to 935k (compared with 770k in 2013/14). If current trends are maintained, 1 million Chinese residents will holiday in Australia in 2016. In our view, this is likely to happen. The number of holidaymakers from China was already rising steadily when the AUD was elevated. This was partly the result of rising Chinese household income which has generated a resultant lift in tourism- related consumption. Some softening around travel controls over Chinese residents also helped. The lower level of the AUD will simply serve to act as a tailwind on the growth in tourists from China.
The impact of the lower AUD will be most noticeable on the number of tourists arriving from the UK and USA. The UK and USA economies have recovered and their currencies have appreciated commensurately. The lower AUD (and stronger GBP and USD) will see tourists to Australia from both the UK and USA lift. This has already started to happen with the number of tourists from the UK and USA rising on the back of stronger currencies against the AUD.
The tourism investment pipeline
A pickup in the tourism sector has benefits for non-residential construction and other capital expenditure. The tourism investment pipeline was estimated to have grown by 8.7% in 2014 to $53.7bn1. The pipeline constitutes aviation investment, accommodation investment and arts, recreational and business services.
Which regions will benefit the most?
All States benefit from a lift in tourism, but the States which have the highest specialisation to tourism will benefit the most. These States are NSW and QLD. Both States have a tourism specialisation ratio greater than 12. The Barrier Reef has been a major drawcard for international tourists while Sydney Harbour is one of Australia’s iconic places. The tourism sectors in ACT (specialisation ratio close to 2), being the national capital, and NT (with Kakadu National Park and Ayres Rock) are also important to local economies.
<a href="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.29.19%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%202.29.19%20PM.png" alt="">
The national accounts spending data is telling. It shows that since the AUD started heading lower, real spending on hotels, restaurants and cafes has lifted considerably. The lift in QLD, in particular, is significant and illustrates the positive impact that a lower AUD has had on the tourism industry. We expect this trend to continue. Robust growth in the tourism industry will help to offset the downturn in mining investment and associated job losses in QLD.
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Gareth Aird is an economist with the Commonwealth Bank of Australia and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here.</a>
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Tourism dollar key to riding out mining slump: Gareth Aird

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GUEST OBSERVATION
Recently announced changes to Western Australia’s residential planning codes will have a significant impact on the development potential of thousands of properties in the state.
The residential planning codes, commonly referred to as R-codes, are overseen by the state’s planning regulator, the Western Australian Planning Commission (WAPC), and determine the number of dwellings that can be developed on a single property.
The changes to the current system are aimed at properties zoned R30 and R35 and will reduce the number of dwellings that can be built on these particular properties.
As part of the new regulations, properties zoned R30 will be allowed to build one dwelling per 300 square metres and those zoned R35 will be allowed to build one dwelling per 260sqm.
The new development guidelines mean the number of dwellings that can be built on these properties is significantly reduced.
For example, under the existing scheme a landowner with a 1000sqm block zoned R30 can build up to eight units, as the development potential is determined by total building area (or plot ratio), not a minimum land size per lot.
However, with the new requirements a landowner with the same size block and zoning can only build three units.
In addition, the WAPC has given local councils the green light to restrict development in many areas zoned R40. 
The existing scheme has been in place since 2011 and formed part of the State Government’s initiative to increase residential development infill to 47% of new houses.
However, it has experienced stiff opposition from a handful of local councils who are opposed to higher density living options. 
Unfortunately, the backflip by the WAPC will lead to further urban sprawl as housing choice in established suburbs is restricted and residents are forced to live on the urban fringe where land is more affordable.
Subsequently, this will place more pressure on Perth’s already strained roads, public transport and utilities.
The goal of the WA government is to increase the development infill rate to 47% – up from the current level or 28% – however the changes to the R-codes system will only further impede this ambition.
Damian Collins is the founder and managing director of Momentum Wealth and can be contacted <a href="https://www.momentumwealth.com.au/damian-collins/" target="_blank">here</a>.
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Planning law changes to hit WA developers: Damian Collins

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A clearance rate of 77% was recorded in Melbourne at weekend auctions, compared to 77% last weekend and 73% this weekend last year.
There were 735 auctions reported to the REIV.
So far this year, there have been over 22,000 auctions held - up 14% from last year.
TOP 5 HOUSES
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%209.28.13%20AM.png" alt="" width="417" height="294">
1. 95 Rowell Avenue, Camberwell $3,200,000 (pictured above) 2. 37 Lynch Crescent, Brighton $3,000,000 (pictured below) 3. 62 The Highway, Mount Waverley $2,935,000 4. 41 Fisher Parade, Ascot Vale $2,605,000 5. 18 Yeneda Street, Balwyn North $2,600,000
<img src="/images/2015/08/17/700_brighton.jpg" alt="" width="514" height="312">
 TOP 5 BARGAIN HOUSES
1. 6 Warianna Court, Kurunjang $250,000 2. 21 Lionheart Court, Epping $282,000 3. 10 Ewarts Road, Don Valley $301,000 4. 125 Seventh Avenue, Rosebud $320,000 5. 30 Earlston Place, Craigieburn $320,000
 TOP 5 APARTMENTS
1. 1/312 Barkers Road, Hawthorn $1,805,000 2. 2/82 Vale Street, East Melbourne $1,805,000 3. 16.1/193 Domain Road, South Yarra $1,720,000 4. 4 Tanner Street, Richmond $1,505,000 5. 1/270 Balcombe Road, Beaumaris $1,220,000 TOP 5 BARGAIN APARTMENTS
1. 2/8 Walnut Street, Carnegie $235,000 2. 2/1152 Heatherton Road, Noble Park $290,000 3. 8/264 Hope Street, Brunswick West $305,000 4. 5/27 Dwyer Street, Clifton Hill $321,500 5. 3/133 Grange Road, Glen Huntly $325,000
Source<a href="https://www.reiv.com.au/PROPERTY-DATA/Auction-Results/Auction-Results" target="_blank"> REIV</a>
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Camberwell edges out Brighton: REIV

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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

Jonathan Chancellor

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