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Fossil Downs Station, the jewel of WA's pastoral industry, has been sold by the Henwood family to cattle queen in the making, Gina Rinehart.
Covering almost 400,000 hectares where the Fitzroy and Margaret Rivers meet, the heritage-listed homestead has been dubbed the "<a href="/news/fossil-downs-the-taj-mahal-of-the-kimberleys-listed">Taj Mahal of the Kimberley</a>".
It is located 430 kms to the live cattle export port of Broome and 30 kms to Fitzroy Crossing township. 
Offers closed July 2 for the property with real estate agent Malcolm French telling the West Australian newspaper he had seen nothing that compared to Fossil Downs in 50 years with Elders.
The $30 million sale to miner Gina Rinehart is reported by the paper today, saying interest came from some of the biggest names in the West Australian business world, including Kerry Stokes and Andrew Forrest.
Rinehart's vision for cattle production in the Kimberley through joint venture company Liveringa Station Beef was crucial in winning over Fossil Downs’ owners John and Annette Henwood, who made the gut wrenching decision to sell, ending a family association dating back to 1882.
"I feel an absolute traitor," said <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/bushtelegraph/annette-mcdonald/5895778" target="_blank">Annette Henwood</a>, who was featured on the farm in a <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/page/4389335?zoomLevel=1" target="_blank">1952 Australian Women's Weekly article</a>.
"I never wanted to be the MacDonald who quit," she said.
Last year, Gina Rinehart's company Hancock Prospecting paid around $40 million for a 50 per cent stake in the Liveringa and Nerrima Stations in the Kimberley, hoping to capitalise on Asia's increasing demand for food.
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jchancellor-FAypfDUnLy

Gina Rinehart buys Fossil Downs, the WA's pastoral jewel

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A record $12.08 million has been paid for a trophy home on Canterbury's Monomeath Avenue.
The sale price of 12 Monomeath to Yi Qian came on recent settlement of the three level trophy home, lift-accessed from its eight car basement.
It is a Phillip Mannerheim designed home, with interiors designed by the late Stuart Rattle, within Paul Bangay gardens. 
<a href="https://www.realestateview.com.au/Real-Estate/monomeath-avenue-canterbury/Property-Details-sold-residential-8294206" target="_blank">The six bedroom, six bathroom home</a> sold through Kay &amp; Burton agent Scott Patterson in conjunction with Melbourne Deluxe Real Estate agent Paul Pfeiffer.
The prior known record was $12 million for another trophy home on Canterbury's Monomeath Avenue.
Ross Savas at Kay &amp; Burton described it (below) as a <a href="https://kayburton.com.au/properties/view/217254-canterbury-sale" target="_blank">majestic residence reminiscent of European chateaus</a>.
<img src="https://images.listonce.com.au/listings/canterbury-vic-3126/254/00217254_img_01_1600x.jpg?1" style="line-height: 1.3em;">
<div>
It came with a pool and north/south tennis court, and even vegie and herb gardens.
It bettered a $10.6 million Canterbury record set just one week earlier on Mont Albert Road.
The $12 million purchasers were Hongmin and Lifang Wang who bought from Mark Waldron.
</div>
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Monomeath Avenue, Canterbury's new $12.08 million record European chateau sale

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The house market is securing greater price growth in regional Victoria than unit price growth, according to the REIV's June quarter data.
Regional
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="132">
<col width="119">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='[null,2,"Regional Victoria"]'>Regional Victoria</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Mar-15 Quarter"]'>Mar-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-value="[null,3,null,346000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$346,000</td>
<td data-sheets-value="[null,3,null,0.015]" data-sheets-numberformat='[null,3,"0.0%",1]'>1.5%</td>
<td data-sheets-value="[null,3,null,341000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$341,000</td>
<td data-sheets-value="[null,3,null,0.063]" data-sheets-numberformat='[null,3,"0.00%",1]'>6.30%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit and Apartment"]'>Unit and Apartment</td>
<td data-sheets-value="[null,3,null,257500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$257,500</td>
<td data-sheets-value="[null,3,null,-0.015]" data-sheets-numberformat='[null,3,"0.0%",1]'>-1.5%</td>
<td data-sheets-value="[null,3,null,261500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$261,500</td>
<td data-sheets-value="[null,3,null,0.03]" data-sheets-numberformat='[null,3,"0.00%",1]'>3.00%</td>
</tr>
</tbody>
</table>
 The median prices are seasonally adjusted and annual change are based on rolling annual figures.
 
 House prices, Regional centres  
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="132">
<col width="119">
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<tbody>
<tr>
<td> </td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Mar-15 Quarter"]'>Mar-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"City of Greater Geelong"]'>City of Greater Geelong</td>
<td data-sheets-value="[null,3,null,411250]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$411,250</td>
<td data-sheets-value="[null,3,null,0.003]" data-sheets-numberformat='[null,3,"0.0%",1]'>0.3%</td>
<td data-sheets-value="[null,3,null,410000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$410,000</td>
<td data-sheets-value="[null,3,null,-0.013]" data-sheets-numberformat='[null,3,"0.0%",1]'>-1.3%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"City of Greater Bendigo"]'>City of Greater Bendigo</td>
<td data-sheets-value="[null,3,null,338250]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$338,250</td>
<td data-sheets-value="[null,3,null,0.004]" data-sheets-numberformat='[null,3,"0.0%",1]'>0.4%</td>
<td data-sheets-value="[null,3,null,337000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$337,000</td>
<td data-sheets-value="[null,3,null,0.01]" data-sheets-numberformat='[null,3,"0.0%",1]'>1.0%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"City of Ballarat"]'>City of Ballarat</td>
<td data-sheets-value="[null,3,null,317250]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$317,250</td>
<td data-sheets-value="[null,3,null,0.023]" data-sheets-numberformat='[null,3,"0.0%",1]'>2.3%</td>
<td data-sheets-value="[null,3,null,310000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$310,000</td>
<td data-sheets-value="[null,3,null,0.054]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.4%</td>
</tr>
</tbody>
</table>
 Note: regional median prices are based on 12 months ending the quarter
<a href="https://www.reiv.com.au/Property-Research/Median-Prices/~/media/Files/Median%20Prices/2015%20Q2%20Jun/Median%20price%20Regional_June%20Q%202015.ashx" target="_blank">Click to enlarge </a>
 <img src="https://www.reiv.com.au/Property-Research/Median-Prices/~/media/Files/Median%20Prices/2015%20Q2%20Jun/Median%20price%20Regional_June%20Q%202015.ashx?h=422&amp;w=700&amp;as=1" alt="" width="700" height="422"><a href="https://www.reiv.com.au/Property-Research/Median-Prices/~/media/Files/Median%20Prices/2015%20Q1%20Mar/Chart_Mar15medians_Regional.ashx"></a><a href="https://www.reiv.com.au/Property-Research/Median-Prices/~/media/Files/Median%20Prices/2014%20Q4%20Dec/Chart_Dec14medians_Regional.ashx"></a><a href="https://www.reiv.com.au/Property-Research/Median-Prices/~/media/Files/Median%20Prices/2014%20Q3%20Sep/Chart_Sep14medians_Regional_EMiNcV6J.ashx"></a>
 This graph shows median house and unit prices in Regional Victoria over the past decade in seasonally adjusted terms.
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Ballarat leads regional price growth: REIV

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Orb House in Kew, the noteworthy Bojan Simic Architecture-designed contemporary home, has been relisted for sale.
It last sold for $4,928,000 in late 2014. It's latest price guidance is $5 million plus through GreenLand Property Group whose marketing is aimed at the Chinese.
"Orb House is located in the Kew region of Melbourne, one of Melbourne’s oldest and richest of the rich areas, historic, just 5 km from the city centre, south-east of Melbourne," it suggested..
It has been listed by Chinese buyers, James Tan and Liping Liu from Applecross, Perth who set up Treasure Prosperity Pty Ltd as their purchasing company.
<img src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlNZLqcArlBKFcsZ4jSeBMtOHoqa71t8ppJic8zOyeFL6n4VEPJoIcRbQQ/640?tp=webp&amp;wxfrom=5" alt="" data-s="300,640" data-type="jpeg" data-src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlNZLqcArlBKFcsZ4jSeBMtOHoqa71t8ppJic8zOyeFL6n4VEPJoIcRbQQ/0" data-ratio="0.751578947368421" data-w="475">
It first sold for $5 million in early 2011.
<img src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlN9ztUic6WAyfSACVV5b8BtkyroXAbibBr8QHopicGDXMhph7rs2ejrA5Sg/640?tp=webp&amp;wxfrom=5" alt="" data-s="300,640" data-type="jpeg" data-src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlN9ztUic6WAyfSACVV5b8BtkyroXAbibBr8QHopicGDXMhph7rs2ejrA5Sg/0" data-ratio="0.631578947368421" data-w="475">
Set high on the hill in Kew, it was built during 2009 by WAF Constructions on its 582 square metres block at 52a Molesworth Street.
It is four bedrooms and five bathrooms, with 495 square metres of space with a facade a huge wall of glass. There is a giant circle cut-out on the wall behind and a staircase forming an exaggerated zigzag below. 
It was shortlisted for the Australian Institute of Architects 2010 Victorian Awards.
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Architectural gem Orb House, Kew returns to market

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Melbourne leads the 20 year house price growth with annualised 8.16% price growth, but Darwin wins over past decade, the latest data from Onthehouse suggests.
It is the same outcome for units too.
The latest statistics reveal that recent annual growth in the Melbourne house market shot up 8.18% in the year to May 2015, which is a dollar increase of about $55,000.
While this is a far cry from the $160,000 value growth in its Sydney counterpart, it represents a rapid increase in values.
Table 1 presents the results for our major markets, for May 2015.
<a href="/images/2015/07/24/Table_1.jpg" target="_blank">Click to enlarge</a>
<a href="/images/2015/07/24/Table_1.jpg" target="_blank"></a> <img src="/images/2015/07/24/Table_1.jpg" alt="" width="747" height="549">
Growth in Melbourne seems to have peaked at the beginning of 2014, with growth gradually trending down from this peak, Eliza Owen at onthehouse reports.
"It is still unclear if growth in Sydney has peaked," she said.
<a href="/images/2015/07/24/G1_Sydney_Melbourne_Growth_Trends.jpg" target="_blank">Click to enlarge</a> - Sydney and Melbourne trends
<img src="/images/2015/07/24/G1_Sydney_Melbourne_Growth_Trends.jpg" alt="" style="line-height: 1.3em;">
 
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Melbourne leads the 20 year price growth, but Darwin wins over past decade: Onthehouse

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Sydney recorded a 79.7% weekend auction clearance rate - a year low.
The weekend result came after the unsettling suggestion Sydney's median house price had hit $1 million.
Domain Group's Australian Property Monitors had tabulated 590 of the 715 expected results, with late results expected to see the final figure even lower.
Last weekend's revised result was 78.3%.
Barring holiday weekends, the clearance rate for Sydney has sat above 80% since the February 7 weekend, when the auction season got underway.
Below 80% results were recorded on the January 31, 2015 and December 20, 2014 weekends. 
The same weekend last year had a 73% success rate across Sydney.
<img src="https://i1.au.reastatic.net/800x600/45ab77ea64bb5f3c0f5269a636e25449208799b85250d66ea295ceac3bef4b9d/image2.jpg" alt="1 &amp; 2/10 Bruce Avenue, Manly" title="1 &amp; 2/10 Bruce Avenue, Manly" data-index="1">
A clearance rate of 79 per cent was recorded this weekend in Melbourne compared to 75 per cent last weekend and 70 per cent this weekend last year, <a href="https://www.reiv.com.au/Property-Research" target="_blank">with 671 auctions reported to the REIV today</a>.
The highest sale of the day was in Sydney where a three level Manly harbourfront duplex (above) sold at $4.55 million to expats through Cherie Humel-Clarke of Clarke &amp; Humel who had just the three registered bidders for 10 Bruce Avenue.
Sydney's cheapest was $338,000 at Regents Park - which had sold pre-renovation at $217,000 in 2012.
Melbourne's dearest reported result was <a href="https://8ferdinandav.com/" target="_blank">8 Ferdinand Avenue, Balwyn North</a> which sold for $3,600,000, a near new home in the prized Balwyn High School zone.
APM's weekend cheapest 
<table style="width: 470px; height: 146px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="ecxrpMostAffordable_trMostAffordableRow_0">
<td id="ecxrpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_0" colspan="2">11/8 Edwin St, Regents Park NSW 2143, 1 br Unit, Town &amp; Country</td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_0">$338,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_1">
<td id="ecxrpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_1" colspan="2">2/17 Abercarn Av, Craigieburn VIC 3064, 3 br Unit, Ray White</td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_1">$280,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_2">
<td id="ecxrpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_2" colspan="2">23 Lorna Rd, Para Hills SA 5096, 3 br House, Professionals </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_2">$310,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_3">
<td id="ecxrpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_3" colspan="2">19 James St, Lowood QLD 4311, 4 br House, LJH </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_3">$172,500</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_4">
<td id="ecxrpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_4" colspan="2">5/30 Watson St, Turner ACT 2612, 2 br Unit, McGrath </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_4">$525,000</td>
</tr>
</tbody></table>
Interestingly Saturday's $1.15 million Sydney auction median was the lowest since June 6, which could most probably reflect that listings across the more traditional pricier suburbs are on hold until the spring sales season.
"The market is creaking under record winter listings," said Domain's senior economist, Dr Andrew Wilson, a more sober assessment than the mid-week exuberance when Fairfax Media gushingly reported the median house price "smash through the magic $1 million mark for the first time."
<a href="/news/sydneys-1-million-house-median-arrives-326-days-early">It was $1,000,616</a>.
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Sydney's weekend clearance rate dips below 80% - year low result 

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House prices are rising across the world, according to the IMF.
Australia certainly doesn't lead the pack, sitting mid-tier between Norway and Malta. 
<a href="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%2011.28.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%2011.28.27%20PM.png" alt="">
 
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Qatar leads world in house price growth: IMF

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Two homeowners in Glen Iris are the latest example of residential vendors in Melbourne’s suburbs teaming up to sell their properties to a residential property developer.
Colliers International sold two neighbouring properties at 1520 High Street and 65 Erica Avenue in Glen Iris as a 830 square metre residential development site for $3.4 million. 
The campaign received with over 105 enquiries, selling 24 hours after the EOI period closed, at a record land rate for the area of $4,096/sqm.
Both owners received approximately 30% more through the process of selling to a developer than they would have done had they sold their houses individually, agent Ben Baines said.
“The practice is becoming increasingly common following residential zoning reforms which were gazetted in July last year.”
Ben Baines said agents were seeing an increase in activity from Asian buyers in Melbourne’s metropolitan market as this buyer group began to look outside the CBD. He said around 70% of enquiries for this kind of property with development potential was now coming from offshore groups.
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Glen Iris neighbours secure record residential development site price

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Two innovative transport startups, GoGet  and Divvy Parking, have announced a partnership.
The aim is improving Sydney's transport network and parking efficiencies for commuters suffering traffic congestion.
Divvy Parking recently signed partnerships with major property groups DEXUS, GPT and Knight Frank and secured $2.5 million in funding.
Divvy Parking and GoGet will use their respective platforms to connect GoGet’s fleet of 2000 cars to parking spaces in Divvy’s growing commercial portfolio, following the rollout of the parking platform’s industry changing access technology. GoGet will leverage Divvy’s network to connect with commercial parking space owners and managers in CBD office towers, who are eager to improve the yield on under utilised spaces, with the aim of securing a wider variety of GoGet reserved spots for users in Sydney. 
The partnership will see GoGet and Divvy partner and integrate in Sydney first, with a national roll out following later this year.
Meanwhile drivers looking for a cheap parking deal were possibly not considering the consequences of parking with unestablished organisations, according to Garth Mathews, Secure Parking founder.
“Although we too are moving from a bricks and mortar business to a digital shop front, Secure Parking’s 30 years of experience in the industry means we have all the right procedures and systems in place, to ensure that our customers are benefiting from a full service management system.
“This includes public liability insurance, surveillance cameras, regularly maintained technology and cleaning, and a dedicated customer support centre in the event something goes wrong – important benefits other players aren’t considering.
"With emerging technologies, we can now combine that, with flexible, cheaper parking rates too,” he said. 
Secure Parking has been operating for several years with Secure-a-Spot, an online booking service which provides an end to end solution and accounts for over 160,000 parking bays booked each month.
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Divvy and Go Get partner in competitive Sydney CBD parking skirmish

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Sydney property prices have attracted the attention of the BBC, the British broadcaster, given their reaching the A$1m mark for the house median according to the Domain Group.
The article loses weight in conversion of course, €$736,000,and £471,000.
Melbourne - the next most-expensive city in the June conversion - was noted for being at A$668,030 (€$492,000, £315,000).
The occurance was referenced to <a href="/news/sydneys-1-million-house-median-arrives-326-days-early">international city price comparisons by the local Sydney press</a>.
They reported the Australian Treasurer Joe Hockey said the Federal government was willing to work with the New South Wales government to address what he described as a housing "supply logjam".
"The demand is extraordinary for Sydney so the response has to be to increase the supply of housing," Mr Hockey told reporters on Thursday.
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Sydney's $1 million median becomes international point of interest

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

Joel Robinson

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

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

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

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

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

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

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

Jonathan Chancellor

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