<html><body>
Lend Lease recorded strong growth in off-the-plan sales of residential lots in the six-month period to December 31, 2011, but operating profits after tax remained steady at $220 million due to a slump in settlements. 
The developer recorded a 15% increase in residential lot pre-sales from 1,870 lots to 2,335 lots. 
Pre-sales represent contracts entered into before December 31, 2011 that have not settled and do not part of profit after tax in the current interim results. 
The number of residential land lots settled decreased by 28% compared with the previous period to 805 units, “principally as a result of fewer settlements in Victoria and South Australia, reflecting current market conditions and a number of projects approaching completion”. 
Lend Lease group CEO and managing director Steve McCann says residential sales are now taking 12 weeks from inquiry to conversion into sales.
“Slower trading is occurring in Queensland and South Australia, while Victoria is also heading down,” says McCann.
Strong sales were recorded in the Caroline Springs and Laurimar residential communities in Victoria and Springbank Rise in the ACT.
Lend Lease reached settlement on 805 residential land lots over the period valued at $196 million, compared with 1,116 lot settlements worth $250 million in the corresponding period in 2010. 
Over this period, the backlog of zoned residential units decreased marginally from 73,580 to 72,735. 
The average sales price per residential land lot increased by 9% to $243,850, reflecting a change in the product mix compared to the previous period. 
Eight residential communities will commence trading in the next 12 months. 
The company has 37 residential community projects in various stages of construction, including the mixed-use RNA Showgrounds redevelopment in Brisbane and Rocky Springs, a master-planned community 15 kilometres south east of Townsville. 
Over the six-month period to December 2011, Lend Lease secured interests in a number of major residential and mixed-used developments. 
Lend Lease was selected as the preferred proponent for the <a href="https://www.propertyobserver.com.au/land/lend-lease-and-multiplex-vie-for-perth-waterbank-tender/2011092251649" target="_blank">Waterbank site redevelopment in Perth</a>. 
The project is a four-hectare mixed-use precinct on the banks of the Swan River and is proposed to include more than 700 residential apartments, a hotel, commercial offices, retail and substantial public spaces for residents and visitors. The project will be staged over 10 years and has an end development value of about $1 billion. 
The group also signed the development agreement for the Atherstone master-planned urban community project in Melton, Victoria.
The project will comprise about 4,500 dwellings with an estimated end value of $1.2 billion. 
Lend Lease also reported that the Queensland government had gazetted the Yarrabilba Development Scheme, “clearing the way for a new community of more than 45,000 people”. 
Yarrabilba is a master-planned urban community located south east of Brisbane, Queensland, which will comprise 14,185 residential land lots. 
The group also acquired an urban development site at Logan Reserve, south east of Brisbane, Queensland. The site is 48.3 hectares and will deliver approximately 500 lots.
 
 
 
</body></html>

lschlesinger-FZcF9M3vE6

Lend Lease residential pre-sales up 15% but settlements down in weak market

<html><body>
Investors will be able to own a piece of the Empire State Building after its owners announced plans to list the New York landmark on the New York Stock Exchange.
The 102-story building, once the tallest in the world, forms part of the Empire State Realty Trust Inc, owned by the Malkin Family since 2002.
The REIT plans to issue two classes of stock – class A shares being sold to the public worth one vote each and class B shares with 50 votes each.
On a pro forma basis, the company generated revenue of about $156.7 million from the building for the nine months ended September 30. In total, it earned $71 million, rebounding from lows during the financial crisis.
The Empire State Building accounts for the largest chunk of revenue for the REIT, which also owns 12 office properties and six standalone retail properties mostly located in midtown Manhattan.
Between $175 million and $215 million of capital raised through the listing will be used to renovate and reposition its properties.
Standing at the intersection of Fifth Avenue and West 34th Street, the Art Deco building rises to 443.2 metres when including its antennae spire.
It was built in 1931 and reined as the tallest building in the world until the construction of the World Trade Centre North Tower. It famously featured in the 1933 movie King Kong as the site where the giant ape battled fighter planes.
It is currently the tallest building in New York, third tallest in the US and 15th tallest in the world.
The Empire State Building was designed by William F. Lamb from the architectural firm Shreve, Lamb and Harmon, which produced the building drawings in just two weeks.
Empire State Realty will use the ticker symbol ESB.
As part of the IP, the company said it would consolidate a group of closely held companies to form a real estate investment trust.
 
 
 
 
</body></html>

Investors offered shares in New York’s Empire State Building

<html><body>
An investigation by consumer group Choice has found that banks are neglecting their duties to give out key loan fact sheets.
Only one out of 18 Sydney bank branches visited by Choice spokesman Matt Levey provided a copy of the fact sheet when he requested information about comparable fees and interest rates.
A key fact sheet helps borrowers compare the home loan they are being offered with other similar loans to help them make an informed decision.
Since January 2012 mortgage providers must give customers a key facts sheet on request.
"We ended up with a lot of paraphernalia ... a lot of handwritten notes, a lot of glossy brochures with photos of bank CEOs," Levey told the ABC.
"We got one home loan fact sheet. We say that's not good enough.
"If the banks were serious about standing behind their products and serious about competing, then they'd be providing Australian consumers with the information they needed to shop around."
Levey says he did not ask for the fact sheet by name, but says Choice does not believe it is realistic to expect customers to ask for the fact sheet by its official name: the federal government's key home loan fact sheet.
“We think it's enough to go in and say, ‘Can we have some information to go away and compare loans?'
"If that doesn't work, then we think the requirement needs to change."
To learn more about refinancing, sign up for the free Property Observer refinancing webinar on Wednesday at 12.30.
{module What do you intend to do given the current interest rate fluctuations?}
 
{module Have you changed lenders in the last six years?}
</body></html>

Banks not giving out key home loan fact sheets: Choice

<html><body>
The Charter Hall Retail Trust has reported a 5.6% drop in interim statutory profits to $41.7 million despite “resilient” non-discretionary sales growth from its anchor tenants Coles and Woolworths.
The two supermarket groups recorded sales growth of 4.6% for the six month reporting period to December 31, 2011, compared with the REIT’s specialty tenants, which managed sales growth of just 1.7%.
Acting CEO Scott Dundas says the resilience of non-discretionary retail spending “continues to positively reinforce the REIT’s underlying strategy of being a specialist owner of supermarket anchored neighbourhood and sub-regional shopping centres in Australia.
“We believe the continued sales growth of this sector, as highlighted by recent Australian Bureau of Statistics retail data which reported annual food-based turnover of 4.2%, coupled with 8.2% specialty occupancy costs of the REIT’s portfolio provides a positive opportunity for further income and capital growth for unitholders,” Dundas says.
Over the six-month period Charter Hall Retail disposed of four US retail assets as it refocused on strengthening its Australian portfolio with the acquisition of three former Centro-managed malls, all of which are anchored by either a “dominant” Coles or Woolworth’s supermarket.
The trust intends to sell a further three wholly owned assets in the US by June 2012.
In December the trust acquired the Lansell Plaza in Bendigo for $32 million from the Centro Group and the <a href="https://www.propertyobserver.com.au/retail/centro-sells-adelaide-shopping-centre-following-brisbane-settlement/2011092051630" target="_blank">Gladstone Shopping Centre</a> in Queensland from a syndicate managed by the Centro Group for $17 million.
In August it acquired the Albany Creek Shopping Centre in Brisbane for $40.1 million from a Centro/MCS-managed syndicate.
In its annual results, Charter Hall Retail REIT said its Australian portfolio continued to perform well during the year, “highlighting the resilience of the non-discretionary retail sector”.
Occupancy across its Australian portfolio stands at 98.7% with same property net operating income growth of 3.5%
The $946 million portfolio achieved specialty rental rate growth of 4.1% and signed 82 new lease and 77 renewal transactions in the half year.
 
 
 
 
</body></html>

Strong Coles and Woolies sales help prop up Charter Hall Retail REIT as profits fall

<html><body>
Strong rises in values of coastal Perth suburbs have led a resurgent WA housing market, according to the Real Estate Institute of Western Australia.
REIWA president David Airey says the WA market is showing the first real indications of a recovery in 18 months.
According to REIWA data, the strongest-performing suburb over the December quarter was North Beach, 16 kilometres north of the Perth CBD, where house prices are up 15.3% for the quarter to a median of $980,000. North Beach turned around a 5.8% annual decline recorded over the September quarter 2011 to end the year with median house prices up 10.1%.
The rise in the North Beach median price was more than double that of the 7.3% increase in Rossmoyne on the Canning River to the south of the CBD, where the median house price has risen to $915,000. Rossmoyne prices were down 11.5% for the year to the September 2011 quarter.
Third on the list was Ocean Reef in the outer-northern suburbs, where prices increased by 4.5% to a median of $700,000 after registering a 6.2% annual decline over the September quarter.
Other coastal and riverside suburbs on the list of the top 10 suburbs for the December quarter were Salter Point, Jindalee and Bateman.
The best-performing suburb for the year was Marmion, close to North Beach, where prices rose 10.5% for the year to a median of $950,000.
Airey says suburbs like Marmion and North Beach have performed well because they are small, niche suburbs with limited properties for sale.
According to Airey, signs of a turnaround in the WA market include the increases in Perth house and unit prices over the December quarter (up 0.5% and 1% respectively); a 12% decline in the number of properties on the market; a 4% increase in residential property sales to 9,600; a decline in the number of selling days from 81 to 77 to 77and a decrease in the number of vendors discounting their properties to achieve a sale.
Despite the increase in sales over the quarter, annual dwelling sales for 2011 were the lowest in 20 years.
“The modest increase in Perth’s median house price is due to the growing numbers of up-grade buyers who entered the market, particularly in the $500,000 to $700,000 price range,” says Airey. 
“This has countered the large sales volumes of first-home buyers purchasing the more affordable homes and skewing the median downwards in recent times. 
“When you look at all the market indicators together to get a wider picture you can see that buyers and sellers are becoming more confident, and things really do look like they’re settling down into a more normal pattern,” he says. 
According to the most recent RP Data-Rismark house price index, Perth was the worst-performing capital city property market, with home prices down 1.6% in December and 4.3% for the year.
Rismark managing director Ben Skilbeck says Perth was one of the more volatile housing markets in December.
 
</body></html>

WA housing market recovering, led by coastal suburbs: REIWA

<html><body>
Low-risk, income-generating Australian real estate will continue to appeal to global investors in 2012, according to investment bank UBS. 
UBS global property real estate strategist Elisabeth Troni  says real estate yields in Australia, Japan, the core eurozone, the UK and the US are trading between a premium of 2% and 4% over 10-year bonds and above historic averages, suggesting pricing remains attractive.
<img src="/images/stories/bondratescharty.gif">
 
“Yield spreads are well above average in Core Europe, the UK, the US and Australia,” Troni says as part the bank’s Investing in 2012 report. 
According to Troni, global investors are expected to continue to show an appetite for low-risk “core” property assets and avoid more risker, higher-return offerings. 
In a low-interest-rate environment, she says, “most investors remain focused on stable, income-producing investments”. 
“Unlike the recent past, we do not expect a significant shift of fund flows from core into riskier strategies, despite the wide spreads available.” 
Troni says that in the wake of the financial crisis, investors in property have been faced with the problem of generating income in an environment of slower growth and lower interest rates. 
“This search for income is putting into sharp focus the relative pricing of risk across many types of real estate. 
“Real estate is a hybrid of bond-like cashflows from rental income and equity-like gains from capital appreciation. 
“Core real estate, by definition, involves low leverage and stable tenants, which reduces risk and produces distributable income. Core real estate strategies focus on the income return, while opportunistic strategies focus on capital growth and value-add strategies balance the two. 
“Assessing the outlook for global real estate depends to a large extent on the path investors take as they ‘reach for yield’. On an absolute basis, yields on core assets with long-dated income are below long-term averages, making this segment look less attractive (i.e., more expensive). 
“However, this should be expected during a time of heightened global economic uncertainty. The available yield spread between core and value-add investments is wide, suggesting that investors are once again being rewarded for increasing their exposure to non-prime/secondary assets.” 
Troni say while value-add strategies have lagged as investors remain cautious against the backdrop of stagnating economic growth, opportunistic strategies have received reasonable interest from investors. 
“These strategies have largely appealed to investors with the high-risk appetite required to invest in distressed pools of assets or emerging-market growth strategies.”
The full report can be downloaded here.
</body></html>

Low-risk Australian property better than government bonds: UBS 

<html><body>
<img src="/images/stories/nabquote.gif">
A rather ironic Terry Ryder from <a href="https://www.facebook.com/hotspotting">Hotspotting.com.au</a> reflecting on the NAB keeping its promise to keep its standard variable rate lower than the other big banks.
It has technically kept its promise while lifting its rates 0.09% so that NAB's rate is now 7.31% but closer to its three other big bank competitors.
 
</body></html>

NAB is keeping its promise - just: Quote of the Week

<html><body>
Channel Nine’s The Block will compete with Channel Ten’s The Renovators as well as 21 other reality television shows for the title of best reality program at this year’s Logie Awards.
In terms of viewer numbers The Block was a much more successful show drawing 3 million viewers to its series final while The Renovators managed just 1.26 million.
In the category of most popular factual program the Real Estate Institute of Victoria (REIV)-backed <a href="https://melbournepropertytv.com/MPTV/index" target="_blank">Melbourne Property TV</a>, which runs on Channel 31 is nominated alongside Channel Nine’s Hot Property show, hosted by The Castle’s Michael Caton.
In the lifestyle program category, three popular property shows are competing for the title, these being Channel 7’s Better Homes and Gardens and two Lifestyle Channel shows Relocation, Relocation Australia and Selling Houses Australia Extreme.
You can vote for your favourite property show of the year at the <a href="https://surveys.asteroid.com.au/bvbin/bvgate.exe?noj=1&amp;sid=917190" target="_blank">TV Week’s 2012 Logie Awards site.</a> Voting closes Sunday.
The 2012 Logie Awards will take place in Melbourne on Sunday, April 15.
</body></html>

The Block and The Renovators to square off, and Channel 31's Melbourne Property TV hopes to get a Logies look-in 

<html><body>
The future of mortgage broking franchise Refund Home Loans and its 300 franchisees remain undecided five months after it collapsed as receivers remain quiet on a possible sale of the business.

An industry source told Property Observer current franchisees were growing increasingly frustrated at the lack of information from the administrator as they hold out for a possible sale.

It is understood that a group of franchisees who had expressed interest in buying the business have now backed out of a management buyout.

Property Observer has put in numerous calls to administrators SV Partners, but has not received any response.

In January it was reported that three businesses had submitted expressions of interest in Refund Home Loans, with Broker News naming one of the suitors as non-bank lender Liberty Financial.

A spokesperson for Liberty Financial said it did not comment on market speculation.

As a lender on Refund Home Loan’s mortgage panel, Liberty Financial would have good knowledge of the business.

Refund has a network of 300 brokers and would provide an instant distribution arm to a non-bank lender, but is unlikely to be appetising to a major lender because of its controversial business model.

As a result of the expressions of interest the court granted SV Partners an extension until March to secure a buyer or wind up the business.

Both Channel Nine’s A Current Affair and Channel Seven’s Today Tonight have run exposés about the collapse of Refund Home Loans.

Speaking on condition of anonymity, a creditor told Property Observer the exposés, particurlarly the more attacking one by ACA, might reduce the sale price of the business.

Today Tonight ran two stories, both including interviews with Ormond and portraying his personal loss (including having to sell his $500,000 Bentley) and featuring support from former Wheel of Fortune host John Burgess.

Refund Home Loans head office in Brisbane says Wayne Ormond has parted ways with the business.

Attempts to reach Ormond via his <a href="https://www.wayneormond.com.au/" target="_blank">personal website</a> have proved unsuccessful. The phone number on the site no longer works.



</body></html>

Refund Home Loans franchisees wait for any news of possible sale

<html><body>
ANZ, the first lender to raise interest rates this month, has become the last of the big four banks to report profit figures.
The bank reported a 5.7% increase in quarterly cash profits to $1.48 billion for the three months ending December 31.
National Australia Bank reported quarterly profit of $1.4 billion while Westpac reported quarterly profits of $1.5 billion.
Commonwealth Bank, which financial year runs to June, <a href="https://www.propertyobserver.com.au/economy/cba-announces-interim-profits-of-%243.6-billion-but-highlights-drop-in-loan-profit-margins/2012021553394" target="_blank">reported six-month profits of $3.57 billion</a>.
Chief executive Mike Smith says the environment for international banking had become significantly more challenging
Smith says funding cost across the Australian business increased by nine basis points over the second half of the year – ANZ raised its interest rates by six basis points last week as part of it independent review, the first of the major banks to lift its rates.
According to RateCity.com.au CEO Damian Smith the rate increase will add an extra $2.36 million in interest revenue per month for ANZ or $28.3 million per year.
The bank has also announced that it will axe 1,000 jobs this year.
“The environment for banking internationally has become significantly more challenging following the first phase of the global financial crisis,” says Smith. 
“Bank funding costs are continuing to rise as the deepening economic and financial crisis in Europe causes dislocation and volatility in global markets although prospects are brighter in the United States”. 
“There will not be a return to the level of credit growth that banks experienced pre-crisis for the foreseeable future, particularly in our major domestic markets in Australia and in New Zealand, as consumers reduce their gearing and businesses pace investments,” he adds.
 
 
 
</body></html>

ANZ profits up 5.7% to $1.48 billion amid ‘challenging’ environment

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