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Sydney Swans footballer Jeremy Laidler has secured $750,000 for his Moonee Ponds, Melbourne holding.
Domain reported earlier this month he expected $600,000 for the 30 Ngarveno Street weatherboard which appeared unduly cautious as he bought it for $590,000 in 2012.
It has three bedrooms and a balcony off the rear living area offering city skyline views.
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<img src="https://images-2.domain.com.au/2015/07/09/6671865/Article%20Lead%20-%20wide998080855gi8cjpimage.related.articleLeadwide.729x410.gi8c47.png1436505662608.jpg-620x349.jpg" alt="Jeremy Laidler's property at 30 Ngarveno Street, Moonee Ponds, which will be auctioned on July 18.">Jeremy Laidler's property was a short walk to the Puckle Street shopping strip, sometimes described as the Toorak Road of Melbourne's north west.
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Alex Carbon agents <a href="https://www.domain.com.au/sold/30-ngarveno-street-moonee-ponds-vic-3039-2012070291" target="_blank">Charles Bongiovanni and Alex Puglia secured the sale</a> ahead of today's scheduled auction.
Laidler played for Geelong and Carlton before joining Sydney last year.
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jchancellor-FAypfDUnLy

Sydney Swan Jeremy Laidler sells in Moonee Ponds

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GUEST OBSERVER
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London is one of the most diverse, globally connected, competitive, high performing cities in the world, on a wide variety of measures.
 We have combined four of the most widely quoted indicators of World City prominence. These measure global connectedness (gaWC), performance and potential (kearney), power (Mori) and global competitiveness (eIu). Together, these create the Savills World City Ranking.
London and New York stand out far ahead of other cities and illustrate how a unique combination of strengths marks them out as global powerhouses. We have dubbed London a ‘polymath city’ for being so pre-eminent in a wide range of aspects of city life.
It might be worth noting, however, that although ranking high economically, London, and indeed the rest of the world cities tend not to rate so high on the ‘softer’ social and environmental issues.
It is also notable that none of the 20 cities rate in the top ten of the Economist’s ‘Liveability Ranking’, for example. Numbeo’s Quality of Life Index 2015 places London in 90th place out of 150 cities, ahead of Paris, Hong Kong, Shanghai, Moscow and Beijing but behind the other 14 cities (only Frankfurt makes it into Numbeo’s top 20).
It would seem that being a top performing world city comes at a price. Pollution can be higher (though London’s is slightly below average), and real estate costs in the 20 cities are significantly higher than in other global cities but, surprisingly, London’s are not among the highest when mainstream housing costs are measured against average household incomes.
This dubious honour belongs to Hong Kong, Beijing, Shanghai, Moscow and Singapore. Traffic congestion and long commutes are another side effect of economic success but London does not fare too badly here, in comparison to other world cities. If Numbeo is to be believed, London’s main downfall in the quality of life rankings (in common with most of the other 20 cities) is that the purchasing power of individuals is low, in relation to average incomes and consumer prices are high.
A rapidly expanding employment base is underpinning a new wave of expansion in London’s office markets. New records were set in the leasing markets in 2014, with 8.2m sq ft leased in the City of London. Reaffirming London’s status as one of the most important global centres for the creative, media, entertainment and tech industries, the capital has seen a general shift in occupier demand from west to east.
This in turn has been reflected in fast-rising office rents. The proportion of office take-up by creative and technology companies in the City of London was 17% in the year to June 2015, the same as the proportion taken by insurance and financial service companies.
However, it is worth noting that the banking sector has started to recover this year, and this means banking and finance companies currently account for 38% of current requirements across central London. A buoyant occupier market underpins record investment – London is the number one destination for cross-border investment into offices globally.
Rapid employment growth puts further pressure on London’s housing market. New housing supply has failed to meet the need and the pressure on living costs has continued to build. House prices in London have risen by 43%, and private sector rents by 19% over the last five years according to the ONS. Investment in transport improvements is essential to open up new parts of the city for housing development. Crossrail, an upgrade to Thameslink services and an extension to the Northern Line, is unlocking new development in the near term.
The focus of London government at present is ensuring that sufficient and affordable accommodation is provided to house London’s growing population. There is concern that a combination of high land prices, low industry capacity and a historic undersupply backlog will continue to thwart these intentions.
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Global urbanisation and the focus by people on city living has meant that international investment activity has also been focused in this way. Worldwide, prime city property has appreciated in value but mainstream property has not grown by so much. This is as true of London as any other global city.
The impact of overseas investment by private individuals in world cities seems to have pushed up prices for wealthy people in the prime markets, but not so much for mainstream property in secondary markets.
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London’s prime residential real estate is seven times more expensive than its mainstream housing, compared to New York’s, for example, which is only four times the price. The higher incidence of overseas property buyers in London has created an international market in prime property but London’s mainstream property is about the same price as New York’s.
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At a global level, mainstream London property prices are on a par with Singapore and New York and cheaper than Hong Kong’s (all of these cities have growing populations and constrained land supply). This still makes London one of the most expensive locations in which to buy property globally, but the issue seems to be one of high demand against near-static supply, rather than the weight of money pressing on prime markets.
It is when new development is overly concentrated in prime markets that these supply problems are exacerbated. London has been able to grow the size of its prime stock but has been less successful at growing its mainstream housing supply. London has several possible solutions to its issues of high home prices:
<ul>
<li>Densify and make better use of land, especially in central and transport- accessible neighbourhoods</li>
<li>Open up new areas with new transport infrastructure</li>
<li>Regenerate low-grade and low-density land, both publicly and privately owned</li>
<li>Intensify neighbourhoods by mixing residential into low-intensity retail and workspace uses</li>
<li>Expand beyond political boundaries, a significant proportion of London’s workforce lives outside greater London already.</li>
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Until most or all of these solutions start to change the supply of housing in London, the city is likely to remain among the world’s most expensive. 
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London, unlike many former hosts of the Olympic Games, saw both visitor numbers and spend increase in its post olympic year, a trend that has continued. London is expected to welcome 18.8m international overnight visitors in 2015, and has topped the Mastercard’s global destination Index in four out of five years, except 2013, when bangkok held the lead position. London also topped the rankings for tourist spend at $20.2bn, with a significant chunk of this spent shopping.
London’s world famous shopping streets and its variety of international brands, including home grown ones such as Burberry, have helped to increase international tourist spend. But it has been London’s ability to attract high spending tourists that has really established it as a Global retail destination.
The biggest spenders have been those coming from the UAE and China. They each have an average spend per transaction of over £900 (US$1,400). The fact that China is now the largest consumer market of luxury products globally, with an increasing proportion of this spend taking place overseas, means that they are an attractive target consumer group – particularly for luxury brands.
At present Chinese tourists account for only a small proportion of total overseas spend in the UK. According to official data from the ONS 233,000 mainland Chinese tourists came to the UK last year with a total spend of £559m. This represents only 2.6% of total overseas spend.
In contrast France attracted over 1 million Chinese visitors. The difficulties experienced by Chinese visitors in obtaining visas has been cited as an issue contributing to these lower visitor numbers. Improvements to the visa application process, introduced last year, are expected to improve these numbers.
VisitBritain is hoping it will help to attract 650,000 Chinese visitors by 2020, with spending power of almost £1.1bn (US$1.7bn).
London’s position as one of the largest city markets for international tourists, and the potential upswing in Chinese visitor numbers, has attracted increasing numbers of international brands.
Since 2012, 98 international brands have opened their first UK store in London with another 11 expected by the end of the year.
New entrants
The majority of these new entrants have come from Europe (64%), with another 25% originating from North America are now also, largely reflecting the existing international mix of retailers on London’s key shopping streets.
However, retailers from Asia Pacific and South America have established a presence in London, reflecting the increasing globalisation of London’s retail landscape and its visitor profile. This influx of new retailer entrants, combined with availability constraints on the traditional key pitches, have helped to open up new retail ‘destinations’ within London.
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Historically, any new retail brands to London would have tended to concentrate within a relatively narrow selection of pitches. The scale of new entrants and existing demand, combined with improvements and enhanced ‘curation’ by a number of existing and emerging landed Estates within Central London has widened the variety of retail ‘destinations’ available to both occupiers and shoppers.
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The top locations of choice for new overseas retailers to London since 2012 are Westfield (West London and Stratford), Covent Garden and Bond Street.
This influx of international spend has not been solely confined to consumers and occupiers. Investment by international investors into Central London retail property has also intensified.
Total acquisition activity by overseas investors totalled £1.5bn in 2014. This represented 59.2% of total activity levels. This investor behaviour is changing the ownership landscape of some of London’s key shopping streets. And it is not just international investors that have become increasingly acquisitive. International retail brands themselves have also been on their own shopping spree.
Overseas ownership
Close to half (45.2%) of all retail units on Bond Street are now owned by overseas entities, up by 10% in January 2013. But around a third of these international owners are in fact international retailers, not investors. While retailer owner-occupation is nothing new on Bond Street, the change has been the increase in acquisition by retailers irrespective of whether they are occupiers or not.
Retailer ownership has increased by 28% since early 2013, but, only half of these retailer owned units are owner-occupied.
Purchaser motivations seem to be in part competitive and in part a way to future proof themselves against further rental growth following the strong rental uplift seen over the last three years (prime Zone A rents on New Bond Street have increased by an average of 20.8% per annum). This trend appears relatively unique to London and is facilitated by the city’s transparent and open real estate market.
On the flip side, this investment appetite from brands has also contributed heavily to competitive tension in yields and retailers becoming landlords to their competitors. In the case of Oxford Street, where the need for protectionism is less acute, overseas retailer ownership is lower, accounting for 10.0% of all units on the street.
Meanwhile, investment activity by other international investors has picked up significantly. With availability on Bond Street some overseas investors have looked to other retails streets to satisfy demand. For example, overseas ownership on Oxford Street has increased by 24.4% since early 2013.
Going forward, activity from overseas investors is expected to continue but is likely to focus on those key retail destinations where current ownership profile offers opportunity.
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The weight of money pressing on real estate in world cities is a widely reported phenomenon. London was the second most invested world city after New York by large-scale investors in the year to june 2015 according to Real Capital analytics.
But it is not just institutions and corporations who are focused on real estate as an investment class. The type and range of players in the market has increased substantially since 2008 with Sovereign Wealth and private individuals entering the fray to a much greater extent.
A recent survey of global wealth advisers by Savills/Wealth Briefing showed that private wealth is very active in real estate with 45% investing more than a fifth of wealth in direct property holdings and 37% investing an additional sum amounting to more than 10% of their wealth in indirect property holdings (property companies and REITs for example). Only 9% of these survey respondents said their clients were planning to decrease their exposure to direct property and 13% to decrease their indirect holdings.
Much of the recent buying activity in real estate has been directed at prime property in world cities, and buying behaviour has been focused on London and top US cities. Our survey of private wealth property holdings in 2014 shows few signs of activity abating. According to the Savills/Wealth Briefing survey, 67% of high net worth private clients want to buy more real estate in North America and 63% in the United Kingdom. This compares with only 37% who are looking to buy in China and Hong Kong, for example.
One characteristic of private wealth is that it is focused on different sectors of property to institutional money. Residential property, development land and agricultural land are the three top buys on private clients’ shopping lists (72% of all respondents say their clients are looking at this sector). But offices also feature prominently, with 50% looking to buy in this sector.
The implications of this for London are that money will likely continue to press on the city’s real estate markets. For those seeking the best income returns from day one, the extent to which this weight of money suppresses yields and increases prices means for them, too much money is pointing at the city.
Consequently, we anticipate that the smart, income-seeking money will increasingly move away from the prime centre to the higher-yielding periphery and even outside of London. Some of it already is, with high-quality city markets like Oxford, Cambridge and Edinburgh already seeing significant investment activity.
Those seeking capital growth will do well to look at the underlying fundamentals of rental growth and the prospects of its continuance, as there is very little scope for further investment yield reductions to boost prices.
Meanwhile, trophy properties, such as mansions, farms and sporting estates, are also beginning to see increased activity and we expect this to grow. Access to London, even from these more far flung retreats, will still be important, so the western corridor with access to Heathrow and the world beyond will likely continue to be a favoured location.
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Yolande Barnes is director, world research with Savills. You can follow Yolande on Twitter <a href="https://twitter.com/yolande_barnes" target="_blank">here.</a>
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Occupier and investor demand in London: Savills

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The Federal Treasurer Joe Hockey has shrugged off the Reserve Bank call for a review of the negative gearing-capital gains tax regime.
"More policemen negatively gear than specialised tax accountants, management consultants or university lecturers," Mr Hockey told 2UE radio.
"This is a way for people on medium incomes, or even lower incomes, to be able to get into the property market in a way that they may not be able to."
The bank joined the debate over how negative gearing and the 50% capital gains tax discount are making housing less affordable.
"The bank believes there is a case for reviewing negative gearing but not in isolation," the RBA said in its submission to a House of Representative's parliamentary inquiry into home ownership.
Limiting negative gearing to new houses or a certain number of investment properties are among the changes Labor is reportedly considering.
The treasurers comments stem from analysis showng the vast majority of property investors taking advantage of negative gearing are “mum and dads” earning less than $80,000 a year, countering the long-held view that the property investment measure was a tax lurk for the rich.
Australian Taxation Office data shows that of the 1.266 million Australians who declared that the rental on their investment properties didn’t meet the interest repayment in 2011-12, 883,325 earned less than $80,000.
More than 70 per cent of people who accessed negative-gearing benefits only owned one investment property. 
About 60,000 clerical staff earning less than $80,000 benefited from negative gearing, as did 54,000 teachers, 46,000 sales staff and 35,590 nurses and midwives, the data showed as reported by The Australian. 
Nick Proud, the executive ­director of the Residential Development Council, which provided the statistics suggested investors incentivised by negative gearing would reduce the future reliance on the pension.
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Policemen negatively gear property: Treasurer Joe Hockey

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Mortgage Choice chief executive John Flavell warns getting rid of negative gearing would make housing less affordable.
This was because there would be less investment in new housing stock and investors faced with a winding back of tax concessions would put rents up to cover their losses.  
"I'm with the government in terms of ruling it out," he said.
"I'm looking at affordability of housing across the board, for renters as well as owner-occupiers." 
John Flavell says negative gearing played an important role in the property market.
"The tax benefits associated with negative gearing helps to make property investment more attractive to some Australians, and given that the success and strength of the housing market is critical to the ongoing health of the Australian economy, it doesn’t make sense to consider removing any initiatives that help this market."
"Instead of placing the emphasis on negative gearing and the impact it has on the property market, we should be placing the emphasis on first home buyers and what initiatives/incentives we can introduce to help them.  
"It would be great to see first home owners receiving similar tax concessions as investors - as we believe this would encourage a lot more first buyers into the market. 
"If we want to improve housing affordability and help more first home buyers into the market, we have to pull on the right levers.
"Housing affordability is a function of property prices, income levels, the cost of and access to credit as well as supply of rental accommodation.
"To have a positive impact on affordability, drive up the instances of home ownership and reduce rental burden, all of these levers need to be considered and used.”
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Mortgage Choice says retaining negative gearing makes sense 

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Investment in residential property through self-managed superannuation funds has risen 11% in the past year. 
The big increase in property investment by SMSFs is revealed by the Australian Securities and Investments Commission in its submission to the latest parliamentary inquiry on home ownership. 
"As at March 2015, the value of residential real property investments through SMSFs was $21.78 billion … up from $19.49 billion … in March 2014," the ASIC submission said. 
Despite the growth, residential property still makes up less than 4% of total Australian and overseas assets held by the 500,000 SMSFs. 
The Reserve Bank of Australia also observed that "although the share of the housing stock owned by these funds is small, it has grown quickly". 
Since the law changed in 2003 to allow SMSFs to borrow money, concern has increased about the influence of the small super funds on the housing market. 
SMSFs are the fastest growing sector of the superannuation industry and investment in property through SMSFs is consequently also growing, ASIC noted.
As at March 2015, the value of residential real property investments through SMSFs was $21.78 billion, or 3.7% of total Australian and overseas assets, up from $19.49 billion, or 3.6% of total Australian and overseas assets, in March 2014.
"There has been an increase in investment in residential real property through SMSFs of 11.78% from March 2014 to March 2015, and an increase of 58.69% since March 2011.
"ASIC’s primary role in relation to SMSFs is to regulate the gatekeepers—the financial planners, accountants, auditors and providers of products and services to SMSFs.
"We want to ensure that those who are advising retail clients about establishing and investing through SMSFs are providing good quality advice.
"We consider that gatekeepers have a critically important role in ensuring the overall health of the SMSF sector is sound.
"ASIC has publicly warned investors about misleading advertisements regarding the use of SMSFs.
"ASIC has also taken regulatory action in relation to the promotion of investment in residential property through SMSFs in a number of instances, including Money Choice, Charterhill and Park Trent," the submission noted.
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SMSFs spending on housing up 11%: ASIC

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Entreprenuer Markus Kahlbetzer's street-level apartment in the 1970s Stuart Murray-designed Elizabeth Bay apartment block Deepdene has been relisted. 
Set on the Elizabeth Bay Road loop, Deepdene stands between the waterfront properties of Oceana and historic Tresco.
The architecturally iconic apartment complex was constructed by the builders A.F Little as five separate apartments. This latest offering is two combined street-level apartments at $7.5 million plus.  
Pastoralist John Kahlbetzer acquired the penthouse in 1980, then finished his consolidation in 2006 with the purchase of two units costing $6.6 million from Fay Parker of Parker's Wines.
The penthouse outdoor entertainment area which is not currently listed was remodelled by landscaper William Dangar with a structure designed by architect Richard Goodwin.
<a href="https://www.110elizabethbayroad.com.au/" target="_blank">Bill Bridges at Ballard Property</a> is taking offers until July 25.
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Elizabeth Bay's Deepdene apartment offering

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The film makers Baz Luhrmann and Catherine Martin now have $16 million-plus hopes for Iona, the 1880s Darlinghurst mansion listed two years ago with $15 million hopes.
And while the couple then wanted to buy a family home with a garden in the eastern suburbs of Sydney, they are now busy living in the USA. 
The couple paid $10 million for the grand Victorian building (pictured below) in 2006 having previously rented the Italianate mansion, for almost the prior decade.
<img src="/images/stories/2013/04/bazapril15one.jpg" alt="bazapril15one" width="470" height="708">
This image courtesy of <a href="https://mydarlingdarlinghurst.blogspot.com.au/" target="_blank">My Darling Darlinghurst</a>.
The creative duo had an initial weekly asking price rent in 1995 around a hefty $6,400.
It sits on a 2700 square metre block reduced over the years since built in the late 1880s as the residence for the pastoralist Edward Chisholm.
It next sold in 1908 to Adela Taylor, wife of Sir Allen Taylor, the then timber merchant and former lord mayor of Sydney who'd been in office in 1905 and 1906 and again between 1909 and 1912.
 With most mansions around Darlinghurst demolished between the 1920s and 1960s, the extended use of Iona as a hospital saved it from this fate.
The National Trust and other conservationists fought to protect Iona before and after its purchase by Jesseme Pty Ltd, the company was owned by John Rutherford who prepared plans for the conversion of the building into 15 flats but the proposal did not proceed.
The 1880s oasis was sold for $2.04 million in 1993 by John Rutherford to Ian Gowrie-Smith, the London-based entreprenuer who sold to the Luhrmann-Martin couple.
It has the best rose corniches Title Tattle has seen. The Wentworth Courier reports the $16 million hopes are held by the listing agency, Sothebys with the pair looking for a smaller property to use as a Sydney base.
 
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Baz Luhrmann and Catherine Martin list Darlo's Iona

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Property website Domain.com.au have released a comprehensive survey of school zones.
It details the price growth rate of property within government school catchment zones across Australia. 
Property sale price data has been compared against the corresponding school catchment zone the property sits within.
Parents need to realise when looking to enrol their children in a government school, that their property is within the boundaries of their chosen school’s catchment zone, Domain senior economist, Dr. Andrew Wilson said. 
“Agents tell us that sometimes houses on one side of the street can be sold for 10% higher or more than their counterparts across the road, simply because they fall within the catchment zone of a highly sought after government school." 
Just being close to a school does not guarantee that the property is within that school’s catchment zone, the report noted.
Primary school catchment zones with the highest rate of property price growth nationally (based on sale prices for properties sold in year to April 2015, compared to previous year):
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High school catchment zones with the highest rate of property price growth nationally (based on sale prices for properties sold in year to April 2015, compared to previous year):
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The Domain 2015 School Zones Report Card found that property prices in Sydney school catchment zones are experiencing the highest price growth out of all the capital cities, with nine out of ten of the primary school catchment zones experiencing the highest growth nationally in 2015 located in NSW, and nine out of ten of the highest growth high school catchment zones also in NSW.
Domain’s mobile apps allow parents to see which school catchment zone a listed property falls into, as well as a map of that school’s catchment zone and key information about the school(s).
 
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School zones capture more family property buying interest - but be sure when paying the premium

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Melbourne entrepreneur Simon McNamara, co-founder of Grill’d, sold his 1930s Malvern family home last month.
It had been his family home since 2009 when his wife, Georgina paid $1.25 million.
Michael Armstrong of Kay Burton secured the sale with an undisclosed price.
The 4 Derril Avenue, Malvern home had $3.5 million plus hopes by the entrepreneur who is also into trampolining playparks Bounce.
There's a trampoline in the backyard too.
 
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Grill'd Simon McNamara sells 1930s Malvern home

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GUEST OBSERVER
The residential building transition is firmly on track. The ABS estimate that dwelling commencements rose by 8.6% in QI. Total commencements should total a record 219K in 2015 and 202K in 2016. This is a significant lift on the 2005‑12 average of 155K. Non‑residential building construction rose by 1.3% in QI.
The trends across the States showed a significant lift in commencements in VIC and QLD. NSW commencements edged up marginally. The increase in NSW commencements has been much softer compared to the pick up in NSW building approvals. NSW commencements are likely to record stronger outcomes over the remainder of 2015.  Across the other states, commencements fell in SA, WA, TAS and ACT.
We recently discussed the large pipeline of residential work that is yet to be completed. In the current residential construction upturn, the flow through from a building approval to a commencement to final completion has been longer compared to prior cycles. One of the reasons for this change is the larger‑than‑normal share of multi‑density dwellings in the pipeline. Multi‑density dwellings are accounting for 40% of total new dwelling commencements. In prior housing upturns, mutli’s were a smaller 30% of new dwelling starts. Multi‑density dwellings tend to have long planning and pre‑approval schedules. Site preparation can be lengthy and may require demolition, excavation and remediation. A longer flow through from approval to actual construction should mean that the positive impulse and contribution to GDP growth and the economy more broadly are also more drawn out.
On our calculations, the pipeline of residential work to be done should extend well into 2016.
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Non‑residential building trends have been varied.  Commercial approvals are weak because of elevated vacancy rates.  Industrial approvals have trended a little lower. 
But, other non‑residential approvals activity has picked up noticeably – particularly in NSW and VIC thanks to large rises in short term accommodation, education and aged care building.  Demographic trends favour construction in the education and health sectors. And a lower Australian dollar is positive for the entertainment and accommodation sectors.  Non‑residential building construction should edge higher over 2015.
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Diana Mousina is an economist for Commonwealth Bank of Australia. She can be contacted <a href="https://www.commbank.com.au/blog/authors/diana-mousina" target="_blank">here.</a>
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Dwelling starts set to track at peak levels over 2015 & 2016: CBA

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

Joel Robinson

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

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

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

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

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

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

Lowe Living launches Jardin House in Camberwell

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

Jonathan Chancellor

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