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Arts philanthropist Simon Mordant, from Luminis Partners, and his wife Catriona have secured $13.35 million for their beachfront Point Piper apartment through eastern suburbs gun agent Bill Malouf.
It cost $10.8 million in 2011 with the then underbidder, Tudor Investment Corp's Ian Calcraft emerging as the latest buyer of the harbourside Alex Popov-designed apartment.
With the rising US dollar, Calcraft who works for the billionaire Paul Tudor Jones Greenwich, Conn, US headquartered hedge fund, benifited from the currency shift given much of his wealth is derived in US dollars. 
And as Mordant tells friends he snapped up his new Broughton House, Sydney abode from designer Thomas Hamel at around his windfall difference.
This article was first published in The Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Simon Mordant sells Point Piper apartment to Tudor Investment Corp hedge funder

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The Springfield, Adelaide trophy home owned by one of Australia's richest young businessman, has been listed for sale.
It is expected to break the South Australian real estate price record for Ross Makris.
Beachside Glenelg home, Stormont, set the state residential record when it fetched $6.5 million in 2010.
The home at 9 Hillside Road, Springfield last traded in 2008 for $4.2 million.
The 2209-square-metre estate has been listed by Adcorp Property Group agent Joe Oppedisano.
Mr Makris, a property developer, made the Adelaide social pages last year when he married 2003 Miss World Australia, model Olivia Stratton.
He is the son of shopping centre tycoon Con Makris, who made his early money in chicken shops.
The Springfield mansion's former owner, Peter Hurley bought the land in 1997 for $420,000.
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Springfield, Adelaide record setting expectations

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Cremorne, one of Queensland’s most significant heritage homes at Hamilton Hill, has been listed for sale.
The 1905 Queenslander home, the only Brisbane example of the domestic work of renowned architects Eaton and Bates, sits on a 2,435 sq m holding. 
It is for sale for only the second time in over 100 years through <a href="https://www.realestate.com.au/property-house-qld-hamilton-119802559" target="_blank">Sarah and Damian Hackett of Place Estate Agents</a> who are seeking offers over $7 million.
The prized, near riverside at 34 Mullens Street has been listed by Genny Neilson who has lived at Cremorne with the family since 1998.
Three generations of the O’Connor family lived at Cremorne before the home came onto the market for the first time since sold at $850,000 in 1998 with pavilion extensions and renovations by Brian Donovan from the then firm Donovan Hill now BVN.
Sydney-trained architects George Thomas Eaton and Albert Edmund Bates formed a partnership in Rockhampton in <abbr title="circa"></abbr>1894 and developed a successful Central Queensland practice with branch offices established at Mount Morgan and Longreach by 1898, Clermont in 1900, Gladstone in 1901, Maryborough in 1902, and Townsville by 1902. Arthur Beckford Polin of Sydney joined the partnership in Townsville in  1901, as Eaton, Bates &amp; Polin.  
They opened in Brisbane in 1902.
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Hamilton Hill's 1905 Queenslander, Cremorne listing

National Wealth, Land Values and Monetary Policy: RBA's Philip Lowe Shann Memorial Lecture

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REA Group has reported a full-year underlying net profit after tax of $185.4 million, up 24% on a year ago, with revenues up 20% to $523 million.
Ad sales were slightly below consensus forecasts of $528 million, as were net profits, which analysts had forecast at $192 million, according to Bloomberg.
The shares, which got to a year high of $51.28 in February, are trading at around $41.20.
REA Group chief executive Tracey Fellows told investors and analysts on a conference call the business had "achieved 20% revenue growth despite listing volumes in the Australian market being down 4%" for the year ended June 30. 
"Listing volumes recovered in June and this recovery has continued into July; giving us some indication of improving market conditions for the first half," Ms Fellows said.
“We’ve accomplished this by providing our customers more choice and better value and by giving the 3.4 million people who use our sites monthly an exceptional experience.
“Our strategy to take our expertise both internationally and to new markets gathered pace this year.
"We have expanded into the world’s largest property market, the US with Move; as well as one of the fastest growing regions through our iProperty investment in Asia.
“And we launched our utility connections service that is helping movers compare and connect services to their property, such as gas, electricity and subscription TV."
Australian revenues increased by 21% to $472.8 million this year.
Its agent customers increased by 5% to 9,922 for the year ended 30 June 2015.
Average monthly visits to realestate.com.au main and mobile sites grew 26% with the average number of monthly page views on realestate.com.au at around 991 million, that REA claims is some six times higher than the number two site, Domain.
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REA Group sees emerging higher property listing revenues - and utility connections 

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Moves to cap lending to housing investors would have a moderating effect in the short term, but the popularity of Sydney and Melbourne meant prices had further to run, the Commonwealth Bank CEO Ian Narev tips.
Ian Narev also pointed to limited supply as a factor in escalating property prices, after the nation's biggest lender for housing advised home loans balances rose 6.6% for the year from $400 billion to $423 billion. Brokernews.com.au reported broker-originated loans accounted for 45% of new business during the year, with brokers now making up 43% of the major bank’s entire home loan portfolio. The home loan lending growth of 6.6% in the year to June 2015 was behind overall lending system growth of 7.4%. 
The recent actions from the Australian Prudential Regulation Authority to cap the lending growth to housing investors would, Narev said, in the short term have a moderating effect on immediate investor demand, but the popularity of Sydney and Melbourne as places to live combined with limited supply suggested prices have further to run over the longer term.
"On the one hand, if you look year on year, the run-up in property prices in [parts of Sydney and Melbourne] feels like it's going to have to come off. But on the other hand, when you again look back on these fundamental forces of supply of demand, some of them might be around for quite some period of time yet," Mr Narev said in an Fairfax Media interview.
Ian Narev revealed CBA had lifted rates on investors loans by 27 basis point last month to avoid the rush of borrowers fleeing competitors, which would have pushed CBA above APRA's 10% growth limit.
"When others are taking action there is a flow effect of extra activity, you have got to be very careful that even without changing your own settings, you don't suddenly get to the point that by the virtue of others doing less, you get to the 10% barrier," he said.
"The pricing was a direct response to that risk and that is why we made that decision."
Commonwealth Bank of Australia (CBA) has reported a five per cent rise in profit to $9.14 billion for 2014-15 but its revenue increased only 1% in the second half while expenses rose 3%.
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CBA boosts home loan book to $423 billion

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GUEST OBSERVER
Our forecasts for global growth to stay around the 31⁄4% yoy mark remain basically unchanged; a sub-trend outcome that falls well short of the IMF’s rosier predictions. The hard data provides no evidence that overall global growth has picked up and our leading indicators suggest further stagnation through to September. The bursting of the share market bubble will probably only worsen China’s trend slowdown. 
The main issues of market focus are the likely timing of US/UK interest rate increases, the recent devaluation of the CNY (intended to align the currency more with market expectations and support exports), and the implications of measures Chinese authorities have used to prop up the share market. Apart from that, bond yields have reversed some of their recent recovery from exceptionally low levels. Facing an improving labour market, we think the Fed will start lifting rates in September, although they have signalled that the process will be gradual. Given recent USD strength, it is not yet clear whether the devaluation of the CNY will have any consequences for the timing of Fed rate hikes. 
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The decline in Chinese share prices from the mid-June bubble peak has wiped out a significant amount of market capitalisation. However, as investors only held recent paper gains for a short time the consequences on spending behaviour may prove to be relatively limited. If investors have borrowed heavily on margin to then face margin calls, there is potential for broader problems. The disappointing trends in global industrial output and trade have continued. Industrial growth was disappointing in March quarter 2015 and the June quarter is shaping up to be even weaker. World exports are faring even worse with volumes trending down, mainly because of poor Asian data. The strong $US has depressed trade flows but there is also an underlying weakness. There is, however, a more fundamental problem at work with export volumes falling below year-earlier levels and faring worse than global trade. Commodity prices have fallen heavily, lowering export earnings and national income across a range of primary exporting countries. Lower commodity prices do boost incomes and spending power in importing economies but the immediate impact on global activity could be negative. After a disappointing start to the year, economic growth in key advanced economies picked up in the June quarter. Business survey results look better in the Euro-zone, despite the Greek crisis, with the upturn broadening out to include services activity. Monthly Japanese business surveys also look slightly better, but the quarterly GDP figures are volatile and kicked up in March, posing the risk of a slowdown in June. Canada is the weakest G7 economy with GDP falling through the first 5 months of the year as investment activity falls. 
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The acceleration in US and UK growth in June continues the trend recovery trajectories seen through the last few years in their economies. Timely monthly business surveys generally point to ongoing moderate growth. This growth is generally broad-based with upturns in both the manufacturing and services sectors with the US and UK service sectors being the stand-out performers for growth, whereas Japan has been the laggard when it comes to growth in all areas. Given that the emerging market economies have been the main drivers of global output growth in recent years, the slowdown in China along with very weak outcomes in Brazil and disappointing data in India all present a major headwind to the world economy. The monthly trade volume and industrial output data that allows us to track how the emerging economies are faring does not look positive, signalling that there is little sign of an imminent upturn in their growth momentum. The monthly data for China and India continues to show a slowing trend in the pace of growth. 
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Recent trade figures have been particularly soft but there is also evidence of a softening in expansion across key sectors of activity like fixed investment spending in China and infrastructure output in India. The People’s Bank of China surprised markets with a large devaluation of the renminbi in mid-August – signalling a greater role for markets in setting the exchange rate in the future. This move may also provide support for struggling exporters. The picture is even worse when we turn to the other emerging market economies in East Asia and Latin America. Industrial output and exports are falling in both regions as sluggish global trade and weaker commodity markets take their toll. Overall our global forecasts have been left broadly unchanged in 2016 (3.3%) and 2017 (3.4%), although this sub-trend outcome falls well short of the IMF’s rosier predictions. The hard data provides no evidence that overall global growth has picked up and our leading indicators suggest further stagnation through to September.  <img src="file:///page1image41080" alt="page1image41080" width="0.720000" height="12.180000" style="line-height: 1.3em;"><img src="file:///page1image41240" alt="page1image41240" width="3.660000" height="0.600000" style="line-height: 1.3em;"><img src="file:///page1image41400" alt="page1image41400" width="0.720000" height="12.120000" style="line-height: 1.3em;"><img src="file:///page1image41560" alt="page1image41560" width="3.600000" height="0.600000" style="line-height: 1.3em;"> Australia: The economic outlook remains mixed and patchy. Mining investment is declining sharply, public spending is limited and national income growth is weak amidst declining commodity prices. Meanwhile, monetary policy is highly stimulatory and the AUD is acting as a shock absorber, with tentative evidence of recovery in non-mining activity. Our GDP forecasts are marginally stronger than last month – 2.4% in 2014/15, 2.8% in 2015/16 and 3.2% in 2016/17 – with domestic demand weak and net exports making a large contribution. 
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<div class="column">The unemployment rate is forecast to stay around 61⁄4% before easing slightly into 2016/17. Central forecast is for the RBA to hold rates steady, with the next move likely to be up, but not till late 2016.</div>
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Recent exuberant readings on business confidence were pared back in July. While confidence eased in most industries, much of the change stemmed from mining and construction firms (which includes a large share on non-residential and engineering firms), suggesting an escalation in Chinese growth concerns could be putting firms on alert. Confidence fell back below the long-run average but remains positive and the trend has held up around average levels. Business conditions also dropped back. Looking through the volatility in conditions and confidence, however, suggests a turnaround in the non-mining economy. Yet, leading indicators from the Survey – such as forward orders and capacity utilisation – generally eased. The labour market appears to be performing more strongly than suggested by traditional relationships with economic activity at present. The average pace of employment growth has strengthened, which has been enough to stabilise the unemployment rate between 6 and 6.3% over the past year. The July reading of 6.3% likely reflects some statistical noise (as it was accompanied by an unusually sharp increase in the participation rate) and we expect some retracement. 
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Readings from various forward-looking measures of the labour market are mixed, but in general suggest employment growth should be sufficient to stabilise the unemployment rate in coming months. Capacity utilisation, which has historically led the unemployment rate, continues to improve and the employment series in the NAB survey (while soft) is suggesting job creation of 15k per month - enough to keep pace with now slower population growth. Consumers remain cautious, but spending has picked up moderately with growth in retail sales volumes accelerating a little in Q2. Retail sales for the month of June were particularly strong (both traditional and online), which could partly reflect spill-over from small business spending encouraged by Budget measures targeted at micro-businesses. Rising dwelling investment in the Eastern states could be another factor behind strong household goods sales. Nevertheless, consumers are nervous, with unemployment expectations high. Against a backdrop of subdued household income growth, we expect a modest pick up in consumer spending growth through to 2017, underpinned by a gradual decline in the household savings rate. Dwelling prices in Australia have risen to 11.1% in the year to July according to RP Data- Rismark. Strength remains concentrated in Sydney (18.4% y/y) and Melbourne (11.5%), but more moderate in the other states and negative in Perth (-0.6%) and Darwin (-5.3%). Undersupply of housing is particularly prevalent in Sydney, and to a lesser degree Melbourne. These markets are also being supported by foreign demand, as well as investor demand, which should slow somewhat as APRA attempts to limit growth in investor housing credit to 10% y/y (currently at 10.7%). Overall we see Australian house price increases to be around 6.1% in 2015 and slowing to 3.0% in 2016, a rate more consistent with household income growth. The outlook for mining investment remains starkly negative, with recent falls in commodity prices further questioning the viability of marginal projects. Dwelling investment is helping to plug the gap, although it’s potential to do so is limited by its small share of GDP (5%). Higher density developments (namely in Sydney and Melbourne) are contributing significantly to the construction pipeline, and the long lag times for these projects means high levels of approvals should drive further growth in construction until late 2016. In other sectors, trend improvement in business conditions, confidence and capacity utilisation (despite the payback in July), suggest an improving outlook for business investment. 
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However, non-residential building approvals remain weak and firms are reporting very high required ‘hurdle rates of return’ (13%) before investing. Indicators of medium-term investment expectations are at best mixed, with the ABS capex survey suggests an outright decline in non-mining capex in 2015/16, while the NAB Business Survey measure of capex intentions suggest a slightly less pessimistic outlook. Our GDP forecasts are marginally stronger than last month – 2.4% in 2014/15, 2.8% in 2015/16 and 3.2% in 2016/17. Despite recent volatility in the labour market figures, our peak unemployment rate is unchanged at 61⁄4%, although spare capacity in the labour market is expected to remain for an extended period. Our central case is for the RBA to sit on its hands until late 2016 when a gradual tightening cycle begins.
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 Alan Oster is group chief economist, National Australia Bank, and can be contacted <a href="https://business.nab.com.au/author/alan-oster/" target="_blank">here</a>.
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Non-residential building approvals remain weak: Alan Oster

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Indigenous Business Australia (IBA) stressed the high number of Indigenous households in social housing and the importance of continuous work with governments in order to enable Aboriginal and Torres Strait Islander people to move into house ownership.
In their submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership in Australia, IBA concluded that providing better conditions for home ownership for the Indigenous community is positive for the government as decreases the social help costs.
"For Aboriginal people at the margins of home affordability, having access to the First Home Owner Grant (FHOG) and stamp duty concessions has made the difference between being trapped as renters versus having home ownership. 
"The decisions by jurisdictions since 2011 to change their FHOG and stamp duty concession schemes, especially by reducing or abolishing the grant for the purchase of existing homes, has had a significant adverse impact on the ability of Indigenous Australians to obtain finance from commercial lenders and/or IBA. 
"IBA has observed that even in its traditional outer metropolitan and regional markets, our typical low to middle income customers are increasingly being squeezed out of the home buyer’s market. 
"In order that the gap in Indigenous home ownership does not increase it is critical that governments seek to augment existing market gap measures, such as the national Indigenous Home Ownership Program (IHOP) and state and territory government targeted programs. 
"The Indigenous Home Ownership Program (IHOP) provides Aboriginal and Torres Strait Islander people, who do not qualify for bank finance, with an affordable home loan. IHOP is targeted at first home buyers. 
"All jurisdictions should target application of the First Home Owners Grants and stamp duty relief to low to medium income Indigenous Australians regardless of whether they are purchasing an existing or new home. This will facilitate more Indigenous Australians being able to access home loans from mainstream financial institutions, in addition to those who may qualify for IBA assistance. 
"IBA recommends close collaboration between state and territory government programs and loan providers, including IBA, to strengthen the pathway between social housing rental and home ownership, building on the many initiatives already in place across jurisdictions. 
"The sale prices for government funded new houses and existing social housing stock (inclusive of land) offered for private sale in remote discrete Indigenous communities, should be set at realistic levels, so that there is reasonable security over a loan and there is a real chance of houses being bought and sold, enabling a housing market to evolve. 
The submission goal was to expose how barriers to achieving home ownership are greater or the Aboriginal and Torres Strait Islander segment. 
"In the 2011 census there were 209,000 Indigenous households, with 135,000 households not in home ownership. The statistics show that 65,000 new Indigenous households would need to move into home ownership to equal the wider Australian home ownership rate. 
"At the same time the Indigenous population is growing at a faster rate than the non-Indigenous population; expected to increase by 60 per cent from 2011 to 2031. The population is also relatively youthful, with 55.8 per cent less than 25 years of age compared to 31.9 per cent in the non-Indigenous population.
"The minimum annual income required to afford the median Australia house price is around $100,000 and much greater incomes would be required in many capital city markets.
"The average household annual income of successful applicants for IBA home loans in 2013- 14 was $75,000. The ability of IBA’s customers to afford a loan at these income levels is due to the extra concessional and other support provided by IBA and the purchasing of houses in more affordable markets (outer metropolitan and regional). 
"It is useful to categorise the affordability and broader challenges for Indigenous home ownership by geographical characteristics, such as remoteness, as this demonstrates the different strategies that are required to address the overall gap in Indigenous home ownership. 
"The table below shows the distribution of the Aboriginal and Torres Strait Islander population by remoteness classification, compared with the non-Indigenous population.
"Inner regional areas include the fringes around the major cities and larger regional towns/cities close to the capital cities or in the corridor between Melbourne and Sydney. 
"House prices are more moderate and in these areas there is also good access to employment opportunities. This is reflected in the high concentration of IBA home loans in inner regional areas (39% of the portfolio and 45 per cent of all new IBA loans). 
"Increasing Indigenous home ownership contributes to the broader picture of addressing Indigenous disadvantage. IBA’s own research, and research undertaken in the wider Australian community, have demonstrated that the broader economic and social benefits of owning a home are often as important as the financial benefits to the home owners.
"IBA’s research has found that owning a home and the responsibilities that this brings create: 
 A strong incentive for long term sustainable employment; 
 Higher wage growth for the main job-holder; and 
 Children of Indigenous home owners being more likely to have a job themselves and to aspire to own their own home.
"Of the 58 customers surveyed as part of the research (mainly in rural locations in Northern Australia), the household income of home owners increased on average by more than 50 per cent over the average period of six years since they had purchased their home. 
The survey revealed that 26 per cent of home owners intended to invest in other property, 9 per cent in starting a business and 9 per cent already derived income from their home (usually by basing a small business there). 
"The participation in Indigenous home ownership has positive long term cost benefits for government. The more economically independent Indigenous Australians can become, the less financial and other supports are required from government. For example, the cost savings from home ownership versus public housing costs have been estimated to be in the order of $167 million to $669 million per 100 households over a 20-year period.
"For Aboriginal people at the margins of home loan affordability, having access to FHOG and stamp duty concessions would make the difference between being trapped as renters of social housing versus having home ownership. Without this support fewer Indigenous Australians will be able to be assisted by IBA or other financiers."
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Home ownership barriers greater for Aboriginals, Torres Strait Islanders

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Marketed as Australia's most affordable Woolworths, Burgess Rawson have secure the sale of the George Town, Tasmania premises for $4.95 million at recent auction.
The 8 Bathurst Street, George Town tenants come with an established lease with 20 + 10 year lease through to 2042. 
The rent is $336,682 pa.
The 1978 square metre Woolworths at <a href="https://www.burgessrawson.com.au/3P1087#.Va8OqSqqqko" target="_blank">8 Bathurst Street, George Town</a> has been described as a "consistent and progressively performing investment" with a captive trade catchment. 
The single tenant offering has minimum management investment with income tax saving depreciation. 
George Town is described as a residential and service centre for major industry including Bell Bay Aluminium generating a 1,500 workforce. 
George Town is a large town in north-east Tasmania, on the eastern bank of the mouth of the Tamar River. 
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George Town Woolworths sells at $4.95 million

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Woolworths-backed retail properties sold well at last week's Burgess Rawson portfolio auction in Sydney.
The two, large-format Dan Murphy's liquor stores in NSW smashed price expectations on sub-5% yields.
A near-new Dan Murphy's on Victoria Road in Gladesville fetched $11.51 millon on a 4.6% yield.
A new Dan Murphy's on Crawford Street in Queanbeyan, NSW sold for $11.3 million on a yield of 4.7%.
Both properties have fresh 15-year leases with Woolworths plus renewal options to 2060.
Burgess Rawson director Graeme Watson, who forecast the Dan Murphy's liquor stores to sell for as much as $10 million with yields ranging from 5.5% to 6.25%, said he had over 350 enquiries for the two Dan Murphy's.
There were seven bidders on each of the properties.
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Dan Murphy stores sell at sub-5% yields at Burgess Rawson auction

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

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