<html><body>
Following the <a target="_blank" href="/news">Bank of Queensland lifting its standard variable rate by 10 basis points</a> to 7.46% (effective March 16), here’s a guide to what standard variable rates the other major lenders are currently offering. 
6.72%
The standard variable bank rate that CUA is currently charging its customers.
6.94%
The standard variable bank rate that Heritage Bank is currently charging its customers.
7.30%
The standard variable bank rate that BankWest is currently charging its customers.
7.38%
The standard variable bank rate that HSBC is currently charging its customers.
7.40%
The standard variable bank rate that Bank of Melbourne is currently charging its customers.
7.41%
The standard variable bank rate ANZ is currently charging its customers
7.42%
The standard variable bank rate that St.George is currently charging its customers.
7.41%
The standard variable bank rate the Commonwealth Bank is currently charging its customers.
7.42%
The standard variable bank rate that BankSA is currently charging its customers.
7.43%
The standard variable bank rate that Suncorp is currently charging its customers.
7.45%
The standard variable bank rate Bendigo and Adelaide Bank is currently charging its customers.
7.46%
The standard variable bank rate Westpac is currently charging its customers.
 7.46%
The standard variable bank rate Bank of Queensland will charge its customers from March 16 after lifting rates by 0.1%
7.62%
The standard variable bank rate Citibank is currently charging its customers.
*All rates correct as of March 7.
For lenders' standard variable rates before the latest round of rate movements, <a target="_blank" href="/news">click here.</a>
 
 
</body></html>

lschlesinger-FZcF9M3vE6

Latest standard variable mortgage guide as Bank of Queensland lifts rates

<html><body>
RBA deputy governor Philip Lowe has highlighted the struggles facing hotel operators in coastal Queensland in a speech on structural changes in the Australian economy as a result of the mining boom and the high Australian dollar. 
Addressing the Australian Industry Group 12th Annual Economic Forum in Sydney today, Lowe presented the following slide clearly showing the disparity in room occupancy rates in inner-city hotels in Melbourne and Sydney versus those for resorts in the tourist regions of the Gold Coast, Sunshine Coast and Whitsundays.
<img src="/images/stories/occupan.gif" width="470">
Lowe said the high dollar had “contributed to a decline in travel to the traditional domestic holiday destinations, with Australians travelling overseas in ever increasing numbers”. 
“This has created quite difficult conditions for parts of the industry with, for  example, room occupancy rates along the Queensland coast having fallen over recent years. 
“In contrast, conditions are noticeably stronger in the accommodation sectors in some of the large cities, which are benefiting from an increase in business travel and an apparent shift in preferences by overseas tourists for city-based experiences. 
“In Sydney, for example, room occupancy rates are at quite high levels,” he said. 
The gap between short-term visitor arrivals (496,800 movements) and short-term resident departures (667,100 movements) widened in January, according to the latest ABS figures. 
During January 2012, short-term visitor arrivals decreased by 0.6% while short-term resident departures increased 2.1% on a seasonally adjusted basis.
 
</body></html>

Dollar hurting tourism, especially Queensland coastal hotel occupancy: RBA

<html><body>
Victoria recorded the largest improvement in housing affordability in the final quarter of 2011 with smaller improvements recorded in WA, Queensland and Tasmania, according to the latest REIA/Deposit Power Housing Affordability Report. 
Nationally, housing affordability improved by just 0.7 percentage points, with the proportion of income required to meet home loan repayments falling from 33.6% to 32.9%. 
Over the three-month period, the proportion of income required to meet loan repayments in Victoria fell from 35.6% from 33.1%. 
As a result Victoria has dropped from second least affordable housing market to third, swapping places with South Australia, where housing affordability worsened, with the ratio of median income to median mortgage repayment rising from 33.5% to 34.2%.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/afforda.jpg"><img src="/images/stories/affordathumb.jpg"></a>
Source: REIA
 
REIA president Pamela Bennett says of the three quarters to record improvements in housing affordability in 2011, the December quarter’s improvement was the smallest.
“The increase of 1.1% in the median weekly income and the decrease of 0.9% in average monthly loan repayments explain the 0.7% decline in the proportion of family income required to meet loan repayments over the quarter,” she says. 
“With the average loan (excluding refinancing) increasing over the quarter by 3.6%, the 0.5% interest rate cut was the reason for the decrease in loan repayments.” 
Housing affordability worsened in NSW (up 0.8% to 37.9%), and it remains the least affordable housing market. 
Housing affordability improved in Queensland (down 1.5 percentage points to 31%), WA (down 1 percentage point to 22.9%) and Tasmania (down 0.9 percentage points to 27.1%). 
The ACT remains the most affordable housing market (up 0.7 percentage points to 18.6%) followed by the Northern Territory (up 0.8 percentage points to 22.4%). 
Nationally, the number of loans to first-home buyers increased by 25.6% to 29,128 over the December quarter and 23.8% over the year, with NSW accounting for more than a third of first-time borrowers (11,194). 
During the quarter, Western Australia was the only state or territory to record an increase in the number of loans, up 1.6%. South Australia recorded the biggest decrease, down 17.8%.
During the December quarter, New South Wales recorded the highest average loan size across the country; this figure currently sits at $344,012. The lowest average loan size was recorded in Tasmania, at $212,584.
 
 
 
</body></html>

Victoria leads marginal national increase in housing affordability: REIA

<html><body>
The Bank of Queensland (BOQ) has lifted mortgage rates by 10 basis points following yesterday’s decision by the RBA to leave the cash rate unchanged at 4.25%.
The increase, which will be effective from March 16, lifts BOQ’s standard variable home loan rate to 7.46% per annum, on par with the Westpac, and among the highest rate currently on offer in the market. 
The regional bank was one of the few lenders not raise interest rates in February, pledging to keep them unchanged until at least the March decision by the RBA.
Stuart Grimshaw, CEO and managing director of BOQ, says the bank had “held rates for as long as it could in the interest of customers” but that the increase was “necessary”.
"Competition is fierce for local deposits, and to remain competitive BOQ needs to provide strong rate returns on our term deposits. 
"BOQ has covered the higher cost of funding for a number of months to provide our lending customers with certainty, and it is disappointing that we’re unable to continue on that course. 
"This decision has not been made lightly and as always, we will be doing our best to support our customers in whatever way we can," he says. 
In February following the surprise decision by the RBA to leave rates on hold, <a target="_blank" href="https://www.propertyobserver.com.au/economy/bank-of-queensland-challenges-big-four-banks-with-promise-to-hold-rates/2012021053331">Grimshaw said BOQ would hold rates steady until the next RBA meeting</a>. 
“We understand many home owners and small business owners are concerned about out of cycle interest rates and want to take this opportunity to reassure our customers that we won’t be increasing our standard variable interest rates at this stage,” Grimshaw said at the time. 
“We want to continue to build long-term relationships with our customers.  Our focus remains on our customers – not on what our competitors are doing. 
“So, BOQ customers, rest easy.  We’re on your side and trying to do the right thing for you,” he said last month. 
ANZ currently has a standard variable rate of 7.36%, Commonwealth Bank's is at 7.41%, and NAB is at 7.31%.
</body></html>

Bank of Queensland lifts rates by 10 basis points to 7.46%

<html><body>
Western Australia and Queensland are where investors should be looking for new investment hotspots, analysis of Australian Property Investor magazine’s hot 100 list has revealed.
The 2012 list features 66 locations that are appearing for the first time, with 20 in Western Australia and 17 in Queensland.
The WA and Queensland picks include both capital city suburbs and remote mining towns benefiting from the resources boom.
Among the most interesting new entrants is <a target="_blank" href="/news">Onslow</a>, which has a population of just 845 and is 1,400 kilometres north from Perth.
According to property valuer Brad Mazza at LandMark White Hegney, the local council for Onslow is “average”, accessibility is “very poor” as there are no flights into the area (you need to fly to either Karratha or Exmouth), and services and amenities are “poor” with “limited houses and very basic amenities”.
However, its location south west of Karratha on the coast of the Pilbara region means it is rapidly turning into one of Australia’s mining boom towns.
<img style="float: left; margin: 5px;" width="300" src="/images/stories/onslowmap.gif">
Mazza says that while prices have already gone through the roof with some vacant blocks of land costing more than $1 million, there’s still talk of prices increasing further. 
Major projects underway in Onslow include the massive 8,000-hectare Ashburton North Strategic Industrial Area, with BHP Billiton and Chevron both fully committed. 
A four-bedroom house on Burt Close in Onslow is asking rent of $2,800 per week – <a target="_blank" href="https://www.propertyobserver.com.au/residential/hefty-residential-rentals-in-the-booming-pilbara-matching-the-east-coast-s-wealthy-suburbs/2011120752707">similar prices to those being charged in Port Hedland</a>, also in the Pilbara. 
Other mining hotspots on the list for the first time include Karratha in the Pilbara, <a target="_blank" href="https://www.propertyobserver.com.au/queensland/hotspot-high-yields-and-price-growth-in-moranbah-but-best-time-to-buy-may-have-passed/2012022753563">Moranbah in Queensland’s Isaac region</a>, Bundaberg, 300 kilometres north of Brisbane, Ceduna, 550 kilometres north west of Adelaide, Mackay, 800 kilometres north west of Brisbane, Newman, 1,000 kilometres north of Perth, and Oakey, near <a target="_blank" href="https://www.propertyobserver.com.au/queensland/hotspots-toowoomba-could-be-headed-for-recovery/2012022853595">Toowoomba</a>. 
City suburbs like Osborne Park, just seven kilometres from Perth, is picked by Australian Property Monitors to boom on the back of “$100 billion in mining industry activity” in WA.
NSW accounts for eight of the new investment hotspots (all of which are Sydney suburbs), there are seven each in Victoria (two being Bendigo and Ballarat) and South Australia, three in the Northern Territory, two in the ACT and two in Tasmania.
The full alphabetical list is:
<ol>
<li>Ballarat, Vic</li>
<li>Belmont, WA</li>
<li>Bendigo, Vic</li>
<li>Box Hill, Vic</li>
<li>Broome, WA</li>
<li>Bundaberg, Qld</li>
<li>Camperdown, NSW</li>
<li>Carindale, Qld</li>
<li>Carlton North, Vic</li>
<li> Ceduna, SA</li>
<li>Chermside, Qld</li>
<li>Cloverdale, WA</li>
<li>Como, WA</li>
<li>Dickson, ACT</li>
<li>Dunsborough, WA</li>
<li>Dutton Park, Qld</li>
<li>Eden Hill, WA</li>
<li>Edgewater, WA</li>
<li>Enmore, NSW</li>
<li>Fremantle, WA</li>
<li>Gawler, WA</li>
<li>Granville, NSW</li>
<li>Hackham, SA</li>
<li>Heathridge, WA</li>
<li>Highgate, WA</li>
<li>Indooroopilly, Qld</li>
<li>Karratha, WA</li>
<li>Kawana, Qld</li>
<li>Kellyville, NSW</li>
<li>Keperra, Qld</li>
<li>Mackay, Qld</li>
<li>Magill, SA</li>
<li>Maroubra, NSW</li>
<li>Marrickville, NSW</li>
<li>Midland WA</li>
<li>Moorooka, Qld</li>
<li>Moranbah, Qld</li>
<li>Murarrie, Qld</li>
<li>Neutral Bay, NSW</li>
<li>Newman, WA</li>
<li>Ningi, Qld</li>
<li>Norwood, SA</li>
<li>Nundah, Qld</li>
<li>Oakey Qld</li>
<li>Onslow, WA</li>
<li>Osborne Park WA</li>
<li>Palmerston, NT</li>
<li>Parap, NT</li>
<li>Port Hedland, WA</li>
<li>Port Lincoln, SA</li>
<li>Roma, Qld</li>
<li>Roxby Downs, SA</li>
<li>Smithton, Tas</li>
<li>Summerhill, NSW</li>
<li>Sunshine, Vic</li>
<li>Tennant Creek, NT</li>
<li>Turner, ACT</li>
<li>Underwood, Qld</li>
<li> Warrane, Tas</li>
<li>Werribee, Vic</li>
<li>West Footscray, Vic</li>
<li>Westminster, WA</li>
<li>Willetton, WA</li>
<li>Woodville West, SA</li>
<li>Yangebup, WA</li>
<li>Yeerongpilly, Qld</li>
</ol>
The full hot 100 list is in the April issue of Australian Property Investor, which is on sale now.
 
Photo courtesy of <a target="_blank" href="https://www.tripadvisor.com/">Trip Advisor</a>.
</body></html>

Sixty-six new hotspots: Remote, inaccessible and with poor amenities, yet rents are skyrocketing in tiny Onslow

<html><body>
Anecdotal evidence from the Housing Industry Association suggests that small renovation work is on the rise while the overall renovations market remains flat.
According to the HIA, 80% of the national renovation market consists of jobs valued at $10,000 or less.
Refinancing for the purpose of renovation declined by 7% in 2011, according to ABS statistics.
At the same time, David Hallett, general manager of, the building advisory service run by the Australian Institute of Architects, says there has been an increase in clients approaching architects about renovations.
He says the main request for any house renovation is always more space and creating an open-plan kitchen and integrated outdoor living space.
“The biggest trend in the last several years is the development of an outdoor living space; that's the top of the list of things to have in the home," Hallett told The Weekend Australian.
"(But) sometimes they want to put extra bedrooms in, which usually means another bathroom.”
According to Archicentre, moving is an expensive exercise and can cost up to $50,000 when loan fees, agent fees, removalist fees and stamp duty costs are included.
Another reason for considering renovating now is the availability of skilled labour.
According to Dale, skilled labour is greater now than at times when housing activity is more buoyant.
"That's a tick in the box [for a house renovation] straight away," he says.
For tips and tricks for getting the most out of your renovation and what costly mistakes to avoid, watch Property Observer’s free webinar: Renovating for Profit.
 
 
 
</body></html>

Smaller renovation work on the rise: HIA

<html><body>
HSBC chief economist Paul Bloxham is sticking with his forecast of one more interest rate cut by June. 
According to Bloxham risks to the global economy are still “skewed to the downside”, with Europe remaining a “potential source of shocks for some time yet” and the recent spike in the oil price a “key risk to the fledgling US recovery”. 
Currently though, Bloxham says the RBA “must be feeling comfortable at the moment”. 
“The economy is in pretty good shape, at least in aggregate. Rates are around neutral, inflation is on target, the labour market is holding up well, so far, and the global situation has stabilised.” 
Bloxham says the Monetary Policy Statement made by RBA governor Glenn Stevens following the announcement reiterates that “should demand conditions weaken materially, the inflation outlook would provide scope for easier monetary policy”. 
According to Bloxham picking direction for the next move in rates “relies critically on the global outlook and developments in the domestic labour market”. 
The February labour market figures – out on Thursday – will be a key guide to future cash rate decisions, says Bloxham because “history suggests [the RBA] tend to respond to a rising unemployment rate with rate cuts”. 
“On the domestic labour market, we still expect that the weaker parts of the two-speed economy – those in the 'slow lane' – will more than offset the parts in the 'fast lane', in terms of employment growth, such that the overall unemployment rate still rises from here,” says Bloxham. 
“On the flip side, the upside risk to rates stems from the fact that productivity growth has been very weak in recent years. Unless there is a pick-up in productivity, inflation pressures will build as demand seeks to run ahead of a weaker supply-side of the economy.”
 
 
 
</body></html>

One more rate cut likely by June: HSBC’s Paul Bloxham

<html><body>
The RBA has backed off from its interest rate easing bias and is now “firmly ensconced on the sidelines”, according to Commonwealth Bank chief economist Michael Blythe.
“The cash rate remains at 4.25%. And the hurdle for another cut appears quite high,” he says.
Blythe says Reserve Bank is unlikely to cut rates again soon.
“The ‘no change’ decision in February (7 February) came with a caveat that economic prospects would have to ‘weaken materially’ to justify another policy move.
“RBA forecasts in the February Statement on Monetary Policy (February 10) showing trend growth or better over the next few years underlined the case for ‘no change’.
“As did the warning by RBA deputy governor [Philip] Lowe (February 16) that some further moderation in domestic price pressures was ‘required’ to keep inflation consistent with the 2-3% target over the medium term.
“Governor [Glenn] Stevens further upped the ante in his semi-annual Parliamentary testimony (24 February) when he observed that ‘monetary policy cannot remove the forces generating different paces of growth in our economy’,” Blythe notes
“The chronology here is one that involves slowly lifting the bar for another rate cut. Today’s statement fits in with that shift,” Blythe says.
The bank is sticking with its forecast of a rate cut in May as an acknowledgement of the risks of economic deterioration in the US, Europe and China.
CommSec is also tipping a rate cut in May, but its chief economist, Craig James, says the timing could be brought forward if the European debt crisis were to turn ugly.
In addition he says the Aussie dollar is now on the Reserve Bank’s radar screen and could also prompt a rate cut.
“If commodity prices fall but the Aussie doesn’t budge then this would represent a tightening of conditions, possibly prompting a Reserve Bank rate cut,” says James.
But, he says, if interest rates are left unchanged for a few months and global financial markets continue to settle “then businesses and consumers will have more confidence to spend, borrow, invest and employ”.
“We expect that home building will lift over 2012 in response to tight rental vacancy rates, low interest rates, a firmer job market and rising migration,” he says.
 
 
</body></html>

RBA seems set to sit on the sidelines for some months yet to come: CBA’s Michael Blythe

<html><body>
Heritage Bank has recorded an 82% spike in the number of home loan inquiries it received in February, compared with the average number of inquiries in the previous five months.
The jump in mortgage inquiries coincides with the Queensland-based bank offering its mortgages to all states and territories via mortgage brokers since February 1.
The mutual lender, formerly known as the Heritage Building Society, says 30% of the mortgages it wrote in February were refinancing deals, with many coming from bigger bank rivals.
“A significant chunk of those people were customers from one of the big banks who have started to realise the benefits of switching over to Heritage, Australia’s largest customer-owned  bank,” says Heritage Bank CEO John Minz.
“The simple fact is that we can often offer a better deal for our customers, because our focus is on giving them better value, not generating big profits to pay shareholders.”
Heritage Bank currently offers a standard rate variable home loan rate of 6.94%, which is 0.44 percentage points lower than the average of the big four banks.
“As a customer-owned bank, we pride ourselves on providing better interest rates, fairer fees and superior service whenever possible,” says Minz.
According to the latest APRA banking report, Heritage Bank has a mortgage book worth $4.1 billion – slightly up from the $4.08 billion in December 2011 – ranking it as the 13th biggest mortgage lender in Australia.
The lender has about $3 billion in household deposits.
Heritage Bank had the highest customer satisfaction rating in the country in the Roy Morgan Consumer Finance Satisfaction Survey as at December last year.
For more advice and information on refinancing your mortgage, <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-12-tips-for-refinancing-your-mortgage">download our free eBook</a>.
 
 
 
 
</body></html>

Heritage Bank records 82% spike in inquiries as customers look outside the big four

<html><body>
The Real Estate Institute of Australia (REIA) has expressed disappointment at the decision by the Reserve Bank to leave interest rates on hold today.
“A rate cut would have assisted those struggling with a mortgage and would have also been the catalyst needed to encourage first home buyers into the market,” says REIA president Pamela Bennett.
“Although a number of publications have reported an ongoing improvement in housing affordability over the past twelve months, the change we are seeing is not significant and rates are an important component in the level of housing affordability.
“REIA will release the Deposit Power Housing Affordability Report tomorrow and we are not expecting to see a considerable change in housing affordability which highlights the need for further rate cuts,” says Bennett.
RP Data’s residential research director Tim Lawless says capital city home values were down just 0.2% over the three months leading up to today’s interest rate decision; “virtually a flat housing market and the smallest quarterly decline in home values since March last year”. 
“A return to stability in the housing market is precisely the outcome the RBA have been aiming for with respect to housing market conditions. 
“The full impact of the rate cuts from November and December last year is yet to be seen, however to date there has seen a subtle improvement in transaction numbers prior to the Christmas slow down,” he says. 
“Based on the recent data flows it is becoming increasingly clear that the housing market is likely to be less of a concern to the RBA. 
“Housing finance data from the ABS has also been trending upwards, suggesting we are likely to see the number of home sales continue to show modest increases over the coming months,” Lawless says. 
“Mortgage arrears appear to be in check, home values are stabilising and transaction volumes are starting to tick up. 
“Any future downwards movement in the cash rate is likely to be more reflective of ongoing global uncertainty rather than a response to a further slowdown in housing market conditions. 
“In fact, we believe that the RBA is likely to be quite comfortable with the current state of Australian housing market but will continue to closely monitoring conditions over the coming months to measure the ongoing effect of the interest rate environment on borrowing and value movements,” he says. 
RateCity.com.au CEO Damian Smith says borrowers should budget for further independent rate increases from lenders. 
“Forty-five lenders hiked their variable home loan rates by an average of 12 basis points despite the Reserve Bank keeping the cash rate on hold last month,” says Smith. 
“The rates that borrowers pay have been creeping away from the Reserve Bank’s cash rate movements since the global financial crisis. 
“Last month proves that all variable rate mortgage holders are vulnerable to rate hikes, regardless of what the RBA does,” he says. 
RateCity’s first-home buyers index, released just prior to today’s RBA’s board meeting, found that while the total number of first-home buyers last year was well below the average for the past decade, the proportion of first-home buyers hasn’t been this high for almost two years.
</body></html>

Rate cut still needed to help borrowers, says REIA

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

Joel Robinson

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

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

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

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

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

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

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News