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GUEST OBSERVATION
Cairns is right on the change of times and fortunes - it is still really unclear exactly what will happen over the next few years. 
I personally believe it will change, but the answer I don't have is just how quickly or to what extent.  The big thing is Aquis and if this goes ahead this will be a game changer for Cairns.  It will not just be restricted to the area immediately surrounding Aquis - Cairns just isn't like that.  
We are still a regional city and Cairns, to us locals, extends down to Gordonvale, up to Palm Cove.  It isn't like the area of Smithfield is booming with business, but Bungalow near the City isn't.  It is too small for that - the whole town either is working or isn't.  
If Aquis is built then the immediate surrounding area will boom, but it won't be like a house there is $800,000 and a similar house in the rest of the city will be $400,000.
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Cairns may not be for everyone - you need to work out if Cairns is the right place for you to invest in.
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The State government seems to be behind the Aquis project, now all we have to do it is get it approved and work to start on it. This is a big step in the right direction. The Foreign Review Investment Board has also given the green light for <a href="https://www.cairnspost.com.au/business/foreign-investment-review-board-gives-fungs-green-light-to-yorkeys-knob-land-buy-for-aquis-mega-resort-and-casino/story-fnjpusdv-1226844517155" target="_blank" style="line-height: 1.3em;">Aquis to purchase the land at Yorkeys Knob</a>.
Without being to dramatic, if Aquis does get the go ahead and work starts this year, we will see a huge movement in the market and very quickly. This could really be the very last chance to get into the property market in Cairns before it takes off.  
To highlight this, I looked at duplex pairs for sale.  Just over two years ago I was lucky to find anything that was listed for over $400,000.  Now there is just one duplex pair that is under $400,000.  The rest have sold - this shows you that the market is on the move. 
The <a href="https://www.cairnspost.com.au/business/full-steam-ahead-for-bunnings-warehouse-in-portsmith-cairns/story-fnjpusdv-1226840282363" target="_blank">building numbers for new houses has increased</a>, but let’s not get too excited.  The numbers are fairly small.  The number of high density developments is minimal, which on one hand is not good for the building industry, it will be a good thing for those of us with investment properties. With no building of any significance for almost seven years now, the vacancy rate is low. As things pick up we will be able to push rents up - it is a simple case of supply and demand. 
Cairns may not be for everyone - you need to work out if Cairns is the right place for you to invest in.
LINDA TUCK is director of <a href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>, an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.  
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ltuck-LoPRMkTfus

Is the Cairns market on the cusp of take-off?

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We have a lot of investors in Cairns, particularly in the unit market.  Many have wanted to get out for the past seven years, but just haven't been able to achieve the price they want so they have held on.  The ones that have sold have either lost a lot of money, gone bankrupt and the bank has sold it out from under them, or they bought a while ago and although they didn't make a profit they didn't lose money.
To explain where I am trying to go I will use the two bedroom market.  Right now you can buy a reasonable two bedroom unit for under $140,000.  As these are being sold the cheapies are not being replaced.  The people that have been hanging on waiting for the market to get to $140,000 consistently are now listing.  This is a long way from where they were going from and it may take a while for these to sell.
When the ones at $140,000 sell the people that have been hanging on until the market gets to $160,000 will start to think it is time to sell and get out.  These will list and again, although they may not sell immediately, as the cheaper stock gets sold they will start to look like the cheapest available and they too will sell.
To prove a point I will tell you about a townhouse at Tropic Gardens.  It had been listed for a long time at about $150,000.  It would have been at least 12 months and no real activity.  In December this was sold for just under $150,000.  A few weeks later an identical unit in the complex was listed for $199,000 and the agent tells me that the owners knocked back an offer of $175,000.
I am hoping that this leap-frogging of prices will bring the market back to 2007 prices relatively quickly. A lot is out of our control - investor confidence, the world economy, Aquis approval, tourism and the Cairns economy in general.
Here goes my predictions - these are based on if the Aquis project is given the green light and is to start in 2015 and not in 2014.
By this time next year we will see sale prices nearing the peak of 2007 prices.  I actually think they will be higher but I am being conservative.  By this time next year will we see rents go up by 10 - 20%.
Bedsit units are currently $175 per week - I believe they will go to $200 per week
One Bedroom units are currently $170 - 200 per week - I believe they will go to $200 - 230 per week
Two Bedroom units are currently $200 - $240 per week - I believe they will go to $230 - 270 per week
Two Bedroom duplexes are currently $220 - 250 per week - I believe they will go to $260 - 290 per week.
Houses will increase by at least the same rate, and may be even more as there are so few houses to rent currently.  It is incredible some of the prices we are achieving for house rentals, and as the market tightens up it is allowing us to choose better quality tenants and achieve higher rents.
Linda Tuck is director of <a rel="nofollow" href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
         
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Cairns market tightening up with leap-frogging listing prices

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I know most investors baulk when they see the body corporate levies, but I think that there are many that just don't understand what a body corporate levy is, what it pays for and why they are actually a great thing for investors that don't live where their investment is.  The key to a good body corporate is to have a great chairperson who makes sure all the jobs are done.
For an investor, it is difficult to understand what the body corporate is responsible for and what they aren't.  As a general rule, the body corporate is responsible for all the common area, the building and the insuring of the actual structure.  The internals of the unit are the responsibility of the owner but even so this is a bit blurry.  If you have a leaking tap, then the owner is responsible to get the washer changed.  If there is a burst pipe and that pipe is in the slab then it is the body corporate.  If the kitchen needs replacing due to age, then it is the owner’s responsibility.  If the kitchen is damaged due to an insurable event, then it is covered under the body corporate insurance cover.
Let's say the hot water system is located in the kitchen cupboard and it bursts flooding the unit.  The damage to the kitchen is covered by body corporate insurance.  The owner will have to pay to get a new hot water system installed.  If the carpets are damaged, these are classed as contents and the owner needs to claim this through their Landlords Insurance.  If the walls are damaged, this is a body corporate claim and their policy will fix this - yes I know very confusing.
I will use Palm Tree Apartments for the example.  This is a complex of 44 units, with 24 of them being bedsit units and 20 being two bedroom units.  The complex was built in 1995 and is a besser block, three storey, bomb proof place.  It isn't the prettiest but it is perfect as an investment.  The units themselves are basic internally but very functional.  The beauty of these is they are big internally - much bigger than a two bedroom in a newer property.  When you have a big complex, you really need to be proactive - if something is wrong it needs to be fixed.  If you leave something broken or dumped next to the bin area it sends out a message that this is acceptable.  This is a learning curve that I had to have - just because we pick up that piece of rubbish near the letter box and put it in the bins, doesn't mean everyone else will!
There are two parts to a levy - you have the administration fund, which budgets for the things that will happen each and every year, and then you have the sinking fund. This is for future works to be completed such as new roof, gutters, fences and repainting.
The Queensland government realised that if they didn't make people put money aside for future works, then they wouldn't.  In the mid-1990s they brought in sinking fund and each building had to do a report and estimate what works would be require, what time frame they were needed to be done in and the cost.  They then work backwards and come up with a figure so that there will be enough money in the bank when the work is required.
The sinking fund is the second part of the levies.  This is for the future works or something that doesn't happen all the time.  This can include tree lopping, pressure cleaning, big garden upgrades etc.
I have been driving around and looking at all our properties, and let me tell you that the outsides are starting to look tired and need some work done to them.  If they are in a body corporate it is easy, get the quotes, pass it via the committee and get the work done.  The money is there sitting and waiting for the work to be done.
On the other hand, if it is a property not in a body corporate - the owners have to find the money to get this work done.
Linda Tuck is director of <a rel="nofollow" href="https://www.plrealty.com.au/about_us" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
 
 
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Body corporate or owner: Who takes responsibility for getting the job done?

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There has been an announcement that the Aquis resort will be delayed for a year.  It still hasn't been approved by the state and local governments and it seems that the sticking point is the approval of the standalone license for the casino.  Getting a project this big approved and started within a year of the announcement was always going to be ambitious.  I think we will hear more over the next few months.  I personally think it will go ahead, and if nothing else, it has been the catalyst for the turn in the Cairns economy and confidence.  
For the past few weeks I have been doing some research for a few buyers.  I have to tell you that the market has well and truly turned.  You can still find a good buy, but they don't hang around long.  You also will be paying more for them than you were even three months ago.  To find a good two bedroom unit under $120,000 is near on impossible, yet before Christmas we had three that were purchased by investors for under $100,000.  
It is not often that I get the crystal ball out, but today I will make an exception.  Before I make my predictions I will go into some back ground information as not everyone has been following Cairns as much as we have.  
Cairns is a relatively new city and most of the building happened in three distinct phases.  The first was in the areas close to the city and <a target="_blank" href="/news">Edge Hill</a>. This would have happened in the very late 1970s and early 1980s.  The unit blocks that were built were either single level or two storey.  They tended to be in smaller blocks and I will guess that at this time there were a lot of duplex pairs that were built.  
The next building phase was between 1988 - 1995 and this was your bomb proof but certainly not pretty developments.  This includes the houses you will find in White Rock, Woree and Brinsmead to name a few.  These were constructed with besser blocks and most of them finished to a budget finish - the besser blocks weren't rendered internally or externally, the kitchens and bathrooms were basic in design and fit out and the fixtures and fittings were cheap.  
The unit developments of this era were mainly in the 5 kilometre CBD circle. This is up to <a target="_blank" href="/news">Edge Hill</a>, around to <a target="_blank" href="/news">Whitfield</a> and south to <a target="_blank" href="/news">Woree</a>.  There were some developments at the northern beaches and some further south down to <a target="_blank" href="/news">Edmonton</a> but the bulk were in the <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> and Whitfield area.  These were up to a maximum of three stories high.  The size ranged from a simple four pack up to 45 units.  There were also some duplex pair developments that were done, but if they could squeeze more onto the block - they did.  
The last building phase happened between 2003 - 2008.  This was cut short by the GFC - it literally ground to a halt overnight and the rest is history.  These developments were nice and on a much bigger and grander scale.  We had the development along the northern beaches, the Esplanade in the City and other inner city suburbs.  We also had the mega developments like The Lakes and Cairns One.  Housing was also on a much grander scale and to a much higher specification.  There were very few small developments and even fewer duplex pairs.  I guess the economies of scale just weren't there.  
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During the rise of the last property cycle, the units that were built in the first and second building phase were pretty much bundled together and sold for about the same price.  Obviously there were slight differences for location and fit out but generally this would be the price near the peak of the market in 2008  
Studio spartments - $80 - 100,000 - these is the really small ones at Chester Court, Jensen Street and even the motel style units at Anderson Road
Bedsit units $110 - 115,000 - this is the type that can be found at 85 Birch, 93 Birch and 55 McCormack Street.
One bedroom units - $150 - 170,000 - the better the presentation the better the price.
Two bedroom units - $220 - 240,000 - I know it is difficult to believe but you really couldn't buy a crappy one for $200,000
Duplex pairs - $500,000 plus.  Yes these are the same duplex pairs I wrote about recently that if you shopped around you could buy for $400,000 and under.
Houses - $300,000 plus.  This would be for a basic three bedroom, one bathroom home in the not so good areas.  
Now to put this into context for today market as it stands right now  
Studio apartments - $40,000 if you hunt around you may even get one lower.
Bedsit units $85,000 - potentially there is $30,000 if the market goes back to just 2007 prices
One bedroom units - $90 - 120,000 - these have dropped but not as badly as the two bedroom units.
Two bedroom units - $95 - 140,000 - if they just go back to 2007 prices there is potentially $100,000 capital gains to be made.
Duplex pairs - $350 - 400,000 - these have gained $50,000 in price since we started tracking them 18 months ago. The fact there are so few pairs around will see the prices go up quickly.
Houses - $250 - 300,000 - this is for your basic home in <a target="_blank" href="/news">Woree</a>, <a target="_blank" href="/news">White Rock</a>, <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> etc.  These too have gained ground in the past six months.  You had your choice of houses about six months ago for $250,000 and under.  To find a good house with two bathrooms for under $300,000 is nearly impossible now.  You can find a three bedroom, one bathroom for under $300,000 and these are still worth looking at if this is your strategy.  
The fact that we haven't had any building in seven years, the economy is getting better, the vacancy rate is low and the rents are increasing are all positive factors.  The fact that interest rates are at historical lows is another bonus.  
The game changer is Aquis and the other projects that will follow on.  This will put further pressure on rents and when the investors start to come out and see the prices compared to the achievable rents, they will take notice and start buying.  I am already seeing this now.  I am dealing with more buyers now than I have dealt with all 2013 put together.
I know that some will say that the body corporate levies will put the investors off.  For this example I will use Palm Tree Apartments.  There are 44 units in the complex.  Before the huge insurance increases came in the premium was $6000.  The premium we just paid in May was $32,500.  
For the bedsits they used to pay $93 per year and now they pay $508 or an increase of $415 per annum, or $8 per week
For the two bedrooms they used to pay $186 and now they pay $1016 or an increase of $830 per annum, or $16 per week.  
I know that the other outgoings have also increase, landlords insurance, council rates and water charges - but these haven't been as high.  For this case I will use a bedsit unit.  At the peak of the rental market the highest we achieved was $155 per week.  We are now consistently renting them out for $175 per week and this is set to increase as the rental market continues to tighten.
Linda Tuck is director of <a target="_blank" href="https://www.plrealty.com.au/index">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
                   
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Cairns market has well and truly turned and new developments could be a game changer

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It has been an interesting start to 2014. Traditionally we get quite a few tenants vacating in December.  This happened to a fair bit and if we don't have these properties re-let by mid to late December, the chance of reletting them drops each day.  Between the December 20 and the first business day back from New Year there is a very remote chance someone will be wanting to rent a property out.  

Traditionally on the first business day back from New Year there is a huge demand from people looking for rental properties.  We have a large number of people moving to Cairns for the start of the year - teachers, doctors, nurses, police, university students and TAFE students to name a few.  
We were back in the office for this when the phone simply didn't ring for the first week back - I started to worry.  
If you did a search for all available rentals in the Cairns greater region mid to late 2013, you would have found between 550 - 650 available rentals.  This covers an area from <a href="/news">Gordonvale</a> up to <a href="/news">Palm Cove</a>.  It also includes all rentals from a small budget studio, right the way up to an executive home.  For the first few weeks of January this figure was just over 900 or a 50% increase.  It has now gone down to 890 but it is still much higher than what we had prior to Christmas.  
We had a unit that became available just before Christmas.  It is small, but it is a really nice unit.  We have repainted it internally, had new lights and fans installed, new curtains and the furniture upgraded.  It presents really well. It has a kitchen with an upright stove, a fridge and even a washing machine in the bathroom.  These are really popular with people that are on a budget and don't want to share.  We were easily renting them out for $175 per week last year.  This particular unit sat for weeks without any one even asking to inspect inside.  I dropped the price to $170 per week and in four weeks we had a total of two inspections.  Fortunately a lovely Korean couple has taken it, but it was bringing back memories of the barrel which I just don't want to get back into.  
The level of enquires was lower but the "trash element" was so much higher.  It was not restricted to just this budget property, it went right the way through the available rentals.  Fortunately we have managed to clear most of the vacancies and just have a few left.  
I am hoping it is a combination of a few factors:  
<ul>
<li>
Christmas and New Year left over quiet phase
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<li>
Wet season down time - it has been incredibly hot and humid
</li>
<li>
Brewing cyclone off the coast - this sent things quiet all this week
</li>
<li>
Later start to the year - school and contracts seem to be starting at the end of January rather than the traditional early part of January.
</li>
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Although we have dropped the rents slightly, they are still at higher levels than they were 12 - 18 months ago.  This is assuming that the property presents well internally.  I can't tell you how often the potential tenants tell us that the other properties they have seen are just awful - particularly when they walk into one of ours that presents well. 
This is going to be a key part of getting and keeping good tenants in 2014.  It is also crucial for us to be able to get higher rents.
Linda Tuck is director of <a href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region. 
 
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 RELATED ARTICLES:
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/slow-start-to-the-year-for-cairns-local-market-update/2014021267563?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Cairns market has well and truly turned and new developments could be a game changer</a> by Linda Tuck
Suburb spotlight: Cairns enjoying low vacancies
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Slow start to the year for Cairns: Local market update

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

Joel Robinson

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

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

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

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

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

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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[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]

Linda Tuck

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