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The landmark Melbourne apartment development Premier Tower has secured 60% off the plan pre-sales in its stage one launch last month with a selection of one bedroom, one bedroom-plus-study and two bedroom configurations. Around half went to offshore buyers seemingly galvanised by the new Victorian Government stamp duty on foreign buyers that began July 1.  
Premier Tower is an eye-catching mixed use tower located at the corner of Spencer Street and Bourke Streets, opposite Southern Cross Station consisting of 780 residential apartments over 68 levels.
There will also be a boutique hotel housed in the podium levels hosting 175 rooms. Construction is due to commence early next year.
“We are excited to be launching our first Melbourne development project and are thrilled with the strong response from the market in these early stages,” Fragrance Group's Adrian Lim said in a press release issued by Colliers International.
The Elenberg Fraser-designed project is being marketed by Colliers International and project managed by PDS Group.
Tim Storey, Colliers International managing director of residential, said the strong initial response to the project demonstrated ongoing the strength of the Melbourne CBD market.
Residential amenities will include grand ground level entry foyer, swimming pool, gym, residential lounges, concierge services, a garden lounge, outdoor fitness zone, sauna and steam room, games and golf area and fully equipped catering kitchens.
Premier apartment residents will also have access to the Premier Club and other exclusive amenities such as a library, private dining rooms and kitchen facilities, a theatre, billiard room and karaoke and media room.
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<img src="https://images-2.domain.com.au/2015/07/07/6666810/Article%20Lead%20-%20wide998000853gi6mf6image.related.articleLeadwide.729x410.gi6mdx.png1436334279225.jpg-620x349.jpg" alt="The curvy tower design, by Elenberg Fraser, was inspired by Beyonce."> 
The curvy tower design, by Elenberg Fraser, was reputedly bizarrely inspired by Beyonce with another press release to Fairfax Media suggesting the design of the curvaceous building at 134 Spencer Street, has been inspired by Beyonce's Ghost film clip from Beyonce's self-titled album.
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<img src="https://images-2.domain.com.au/2015/07/07/6666807/Article%20Lead%20-%20wide998000853gi6mjfimage.related.articleLeadwide.729x410.gi6mdx.png1436334279225.png-620x349.png" alt="A still from Beyonce's Ghost film clip."> 
The media release said: "For those more on the art than science side, we will reveal that the form does pay homage to something more aesthetic – we're going to trust you've seen the music video for Beyonce's Ghost." 
The tower replaces the Savoy Tavern best known for its Warwick Capper-hosted events after reopening following a closure of almost two decades.
<img src="/images/2015/07/10/700_cappa.jpg" alt="">
The Singaporean property magnate Koh Wee Meng and his family will keep a suite of apartments at the very top of the high-rise CBD tower that his Fragrance Group is developing.
The Australian Financial Review noted the only problem is those apartments are on level 75 in a tower which has only approved 68 levels.
The revelation that Mr Koh and two of his sisters have acquired four sky-high apartments, along with one mid-level unit, was made to the Singapore stock exchange where Fragrance is listed, the AFR noted, in a sign Fragrance is planning to take the tower even higher. 
But Planning Minister Richard Wynne cut the original proposal down from 294 metres to 226 metres, making it comply with aviation rules and preventing it overshadowing the Yarra River and this week Wynne advised: "The permit for 134-160 Spencer Street clearly states my approval for 68 storeys. The decision to reduce the height was supported by the City of Melbourne to avoid overshadowing the Yarra River." 
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jchancellor-FAypfDUnLy

Beyonce inspired tower gives Warwick Capper the boot in Fragrance Group's Spencer Street highrise

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Household finances are in good shape, according to the Australian Bankers’ Association.
But households do continue to borrow, and also continue to invest and to save.
The value of household assets is much greater than the value of household debt so that on average households have a positive net worth.
Every $1 of household debt is matched by almost $6 of assets. 
Dwellings are the single largest component of household wealth at $5.1 trillion, with superannuation at $1.9 trillion. 
The ratio of housing debt-to-housing assets is around 28 per cent, with every $1 of debt being matched by over $3 in house value.
Mortgage customers are some 28 months ahead of their home loan repayments despite taking on record levels of debt.
Australians owe $1.46 trillion in household debt but the historically low interest rate period has allowed borrowers to ge ahead on their mortgages paying into their principal at a faster pace. 
About $959 billion is owed on owner-occupied housing and $499 billion on investor housing, according to
ABA's <a class="document pdf" href="https://www.bankers.asn.au/ArticleDocuments/134/REPORT_household_finances_June_2015.PDF.aspx" target="_blank">report</a> shows that consumers increase their credit card use at peak periods such as Christmas but repay strongly in January.
Over December 2014 to January 2015 consumers spent $50 billion but repaid $52.3 billion.
The report on household finances in Australia looks at the value of total borrowings by households in relation to income and assets as well as the use of credit cards and available personal credit.
ABA Executive Director – Industry Policy, Tony Pearson, said: “The trends that we are seeing across a range of household financial measures show that households are equipped to cope with increased borrowings. They are building resilience into their finances by increasing mortgage buffers and reducing the amount of interest paid on their credit card balance.
“As might be expected in a low interest rate environment, households are increasing their borrowings for housing. But the growth rate is much slower today than it was prior to the global financial crisis.
“Households continue to save and are managing their finances well. While households are now increasing their borrowings faster than income, this increase in borrowings is being more than matched by an increase in the value of household assets. Every dollar of household debt is matched by almost $6 of assets,” he said.
Other key figures from the report include:
<ul>
<li>The value of housing related borrowings is $1.5 trillion, an increase of 7.3% on last year. </li>
<li>Total borrowings by households other than for housing is $142 billion, with credit card borrowings making up $51 billion and other forms of personal loans $91 billion.</li>
<li>Household debt as a proportion of household assets is at the lowest level in almost seven years.</li>
<li>The average household is more than two years ahead on their mortgage repayments.</li>
<li>The household savings ratio is high at 9% of household disposable income.</li>
<li>The balance accruing interest for credit card customers has been in decline for the past three years. </li>
<li>Households are using less of their available personal credit facilities with this figure falling since 2005.</li>
</ul>
“Households seem to be preparing for a rainy day, they are getting their finances into a resilient state and building in increasing financial buffers,’’ Tony Pearson, ABA director of industry policy, said.
“They are being very responsible in their use of debts and being very responsible in handling their household finances, it does indicate the Australian household is very canny when it manages its budget.”
He added that savvy home loan customers are parking extra cash into mortgage offset or redraw accounts — to help bring interest costs down — or they are being diligent and are paying down their loan directly.  
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Borrowers 28 months ahead on loans

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Global fashion label H&amp;M is to open its second Melbourne store at Eastland shopping centre.
QIC Global Real Estate has secured H&amp;M for their eastern suburb centre at Ringwood.
Selling affordable and sustainable apparel, H&amp;M’s existing Australian stores are at Melbourne’s GPO, Sydney’s Macquarie Centre in North Ryde, and the two Brisbane locations, Indooroopilly Shopping Centre as well as a Queen Street, Brisbane site.
Australia's first H&amp;M fashion store opened in Melbourne's GPO building in the Bourke Street mall.
The chain has about 3,182 stores in 53 countries, opening a further 375 this year.
It took around three years to find the initial outlet sites in Australia, including the distribution warehouse at Eastern Creek in Sydney.
It has plans for a third Brisbane store and a Perth store.
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H&M for Ringwood's Eastland

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Reserve Bank of Australia assistant governor, Guy Debelle spent $2.75 million in Randwick at March auction.
Dr Debelle's new home last sold for $305,000 in emerging boomtime 1988, which the Australian Financial Review calculated as an 800% gain, or average 8.5% annual increase for each of the past 27 years. 
He settled on the five bedroom 1890s house last month through McGrath Estate Agents with his wife, Lend Lease's Australian head of property marketing and communications Jocelyn Harvey.
Title Tattle gathers it has four underground sandstone cellars.
The couple upsized from a Bronte semi sold at $2.02 million in May. It cost $1,725,000 in 2010, refecting 3% annual growth.
The previous Chesterfield Parade owners had secured 11% annual growth during their 27 year ownership to 2010.
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RBA assistant governor Guy Debelle spends $2.75 million in Randwick

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Virginia Bell, the High Court judge, has listed her Redfern home.
Over $2.4 million is sought for the timeless Georgian cottage, built in 1850 as part of surgeon William Redfern's original estate.
Occupying a 277sqm block on Pitt Street, the 1850s gem has three bedrooms and two bathrooms.
In 1997 she was close to selling, but it was passed in at $636,000 through L.J. Hooker agent Menelo Migdalias.
Bell has McGrath agent Ben Forsyth taking it to August 1 auction.
It traded at $81,000 in 1984. Title Tattle seems to recall Water Rats actor Peter Bensley then had a stake in the colonial sandstone.
Having begun her legal career in 1978 at the newly established Redfern Legal Centre, Justice Bell replaced Justice Kirby in 2008, who had served the High Court for 13 years.
Colonial Dr. Redfern’s mansion at the far end of Pitt Street was demolished by the State Government in the 1950s.
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High Court judge lists Redfern colonial home

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Here’s the best five-year fixed rates available in the mortgage market, according to Canstar.
The comparison rates displayed for each of the products in the table below do not take into account early repayment fees and redraw costs.
The comparison rates were calculated on a loan of $150,000 to be repaid over 25 years.
<a href="https://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2015/07/FixedRateTable.png" target="_blank">Click to enlarge</a>
<a href="https://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2015/07/FixedRateTable.png"><img class="aligncenter size-full wp-image-295859" src="https://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2015/07/FixedRateTable.png" alt="FixedRateTable" width="613" height="212"></a>
The average advertised rate across the market for mortgages fixed over five years is 4.78%.
Here is a list of the five standard variable loan products with the lowest interest rate:
<a href="https://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2015/07/VariableLoansTable.png" target="_blank">Click to enlarge</a>
<a href="https://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2015/07/VariableLoansTable.png"><img class="aligncenter size-full wp-image-295860" src="https://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2015/07/VariableLoansTable.png" alt="VariableLoansTable" width="610" height="213"></a>
The average interest rate on standard variable home loans stands at around 4.91%.
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Five-year fixed best five rates: Canstar

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An understated contemporary Wood Marsh-designed house in Toorak sold recently for $6.4 million after being listed with $7 million hopes through Kay &amp; Burton's Gerald Delany.
Laurie Cox, the former Potter Warburg executive chairman, is upgrading to a $9.7 million South Yarra abode.
He was a director of the Australian Stock Exchange from its inception in 1987 and its chairman from 1989 to 1994.
<a href="https://kayburton.com.au/properties/view/1-douglas-street-toorak-3142-sale" target="_blank">1 Douglas Street, </a>a three bedroom house with studio, comes with a lift between its three floors, which include basement parking.
Randal Wood and Roger Marsh designed Douglas Street in 2004 for Cox who wanted a property that could accommodate guests, or carers, as he got older.
Title Tattle gleans Laurie Cox is off to a Marne Street pad in a nine apartment block designed by Allen Powell for developer, Lloyd Williams' Hudson Conway.
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$6.4 million paid for Laurie Cox's Wood Marsh-designed Toorak home

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Will fresh Chinese property buyers still come to Australia?
Will existing off the plan contracts settle?
What decisions will the Chinese government make on fund transfers, with its formidable capaclty to control many aspects of its economy.
Will all Chinese developers proceed with their overpaid site projects?
Any Australian property market Chinese certainties are now off after the recent stockmarket rout. 
Blogger Pete Wargent recently uploaded a 25 year chart for the Shanghai Composite, indicating just how explosive the stock bubble had become in China. 
He noted that he make no pretensions of having special or unique insights into China's stock market craziness.
And I suspect no-one really knows all the likely property outcomes for Australia. 
We are all interested observers. About 8% of Chinese wealth is held by the 1.4 billion Chinese in their stockmarket - often considered punting money. Financial services company GaveKal said in a recent report the pain of the crash is affecting probably no more than 20 million to 30 million Chinese households, most of which range from upper middle class to very wealthy.
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The turmoil on the Chinese sharemarket raises concerns, challenges and opportunities for Australian real estate, Robert Harley wisely concluded in today's Australian Financial Review.
China has been the single-largest source of offshore real estate investment here, with $12.4 billion of Foreign Investment Review Board approvals in 2014-15, and has been rising and spreading fast.
No one depends more than Australia's billionaire apartment developer, Meriton's Harry Triguboff who told Harley:
"At this stage, we don't feel anything has changed. With the dollar coming down, they want our apartments even more."
Most current commentary suggests Chinese sharemarket turmoil will prompt the Chinese away from stocks to other asset classes, especially real estate. But I'd expect a few non-cyclical curve-balls. 
 
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Any Australian-Chinese property market certainties are off after stockmarket rout 

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AFG, Australia’s largest mortgage broker, has reported investment loans moderated in NSW from 49.8% in May to 41.6% in June. 
Investment loans had been running at an average of 49.5% of all loans in NSW for the previous 12 months.
Elsewhere in Australia, the same moderating trend was repeated, with investment loans declining in SA from 41.8% to 36.8%, in QLD from 36.1% to 34.1%, in VIC from 36.5% to 35.7% and in WA from 31.8% to 31.2%.
Brett McKeon, AFG managing director suggested the figures indicated that APRA controls are starting to take effect, but not at the expense of the overall mortgage market.
"If this trend continues, it should help allay concerns about overheating in Sydney, in particular, as investment levels there come back into line with the sustainable, long term, national average.”
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NSW investor numbers tumble 20% AFG

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The 1910 Canterbury offering, with its Monomeath House nameplate sold at recent auction for $3.5 million.
The Chinese vendors had paid $2.4 million in November 2013.
<img src="https://i1.au.reastatic.net/456x342/416aea33408553ee4834fcee937b0e1ed2fcc433f34455fe43c8d8635f74c5b0/main.jpg" alt="1A Monomeath Avenue, Canterbury" title="1A Monomeath Avenue, Canterbury" data-index="0">
The gross $1.1 million gain was actually accrued over 16 months given the settlement date was April 2014.
Highlighting the Melbourne real estate rollercoaster, it had sold for even higher in the 2010 mini-boom at $2.625 million. In 2002 there was a sale just short of the $1million at $960,000.
Back in 1979 it fetched $100,000. The avenue recently <a href="/news/european-chateau-on-canterburys-monomeath-avenue-fetches-12-million">saw its first $12 million sale</a>.
With 42.4 metre (139 foot) frontage, <a href="https://www.realestateview.com.au/Real-Estate/1a-monomeath-avenue-canterbury/Property-Details-buy-residential-8986092" target="_blank">the double brick Edwardian home</a> weekend offering sat on a 952 sq m (10247 sq ft) holding within what is called the Golden Mile precinct. Monomeath House is filled with ornate period detailing including soaring ceilings, leadlight and bay windows. Its upstairs retreat comes with city views.
RT Edgar selling agent Glen Coutinho suggested it had development potential as either a five star residence or multiple luxury dwellings. 
No video marketing campaign this time at 1a Monomeath, but when Marshall White offered it in 2013 <a href="https://www.youtube.com/watch?v=KhedVb4dacs" target="_blank">the charm of the home was apparent</a>.
Not sure when 1a Monomeath appropriated the name Monomeath House as of course Monomeath Avenue takes its name from Edward Snowden's house Monomeath, which was demolished at 2 Monomeath Avenue in 1949 by the Snowden descendants, the Demaine family who had <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/22703928?searchTerm=demaine%20monomeath%20canterbury&amp;searchLimits=" target="_blank">a 1948 clearance sale</a>.
Heritage records suggest Monomeath was surrounded by vineyards and orchards. The first subdivision of Edward Snowden's seven hectares was at the turn of the century with the Monomeath gates, formerly on Canterbury Road, brought round to face the new Monomeath Avenue.
When Camberwell Council made the road in 1911, there were only a few houses in the area, with Monomeath Avenue's beautiful oaks planted when the road was made in 1911. 
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Monomeath House, Canterbury sold… will demolition follow for the Edwardian gem?

Perth development giant Finbar Group has completed its acquisition of the prominent 236 Railway Parade site in West Leederville, a year after first flagging plans for the transit-oriented development that will become its next major apartment project in Perth's inner west.

The ASX-listed apartment developer has secured the 4,997 sqm mixed use-zoned landholding opposite West Leederville Train Station for around $15 million, paving the way for the proposed Rosslyn Quarter development. The project is expected to deliver <a href="https://www.apartments.com.au/new-apartments/236-railway-parade-west-leederville-wa-6007">around 240 apartments across two towers</a>, alongside ground-floor commercial space.

The acquisition effectively concludes a process that began in mid-2025 when Finbar announced it had entered into a contract to purchase the site, subject to development approval and the finalisation of planning settings under the West Leederville Precinct Structure Plan. At that time, the company outlined plans for a pair of 18-storey towers with an estimated end value of around $200 million.

The site sits within the emerging Rosslyn Quarter precinct, approximately two kilometres from the Perth CBD and directly opposite the West Leederville Train Station. The location also places future residents within walking distance of the West Leederville Shopping Centre, Leederville's hospitality strip, and the neighbouring Subiaco activity centre.

Finbar CEO Ronald Chan said the acquisition builds on the developer's previous experience in the suburb, where it delivered the Motive Apartments project in 2017.

"We have previously enjoyed great success in developing in the West Leederville area given its excellent existing amenity and close proximity to the CBD, Leederville, Subiaco, and the West Leederville train station," Chan said.

He said the scale of the site would allow Finbar to deliver a well-located apartment project while strengthening its long-term development pipeline.

"The substantial scale of this site, with proposed potential for two eighteen-storey towers, will allow the Company to obtain scale benefits which will underpin the delivery of a medium-cost, well-located project," Chan said. "Importantly, this acquisition diversifies and strengthens our long-term development pipeline across metropolitan Perth, enabling us to time our product delivery strategically in line with market conditions."

According to Sterling Property, which brokered the transaction, the site was one of the most significant development opportunities to come to market in Perth's western suburbs in recent years.

Sterling Property Managing Director Brian Neo said opportunities of this scale in established inner-city locations remain tightly held.

"Sites of this scale and calibre, directly opposite a train station and within two kilometres of the CBD, are rarely offered to the market. When they are, they attract serious capital," Neo said.

The acquisition comes as Perth's apartment market continues to contend with limited development-ready sites in established suburbs, particularly those benefiting from both existing transport infrastructure and supportive planning frameworks.

With the West Leederville Precinct Structure Plan now adopted, Finbar can move forward with design development and the development approval process for what is expected to become one of the largest new apartment projects proposed in the suburb.

Joel Robinson

Finbar completes West Leederville site acquisition for Rosslyn Quarter project

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.

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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[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]

Jonathan Chancellor

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