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The office market on the Sunshine Coast is heavily oversupplied due to a number of projects completed in 2017, according to the latest report by the valuation firm Herron Todd White (HTW).
They suggested it has led to a reduction in rental levels across the Sunshine Coast market over the past nine months for new tenants.
This oversupply was predominately in the Maroochydore area.
"We have generally seen all but the most prime tenancy areas in quality buildings with good views have reductions in effective rentals of circa 10% to 30%," HTW said.
The valuers suggested effective rents within A grade style premises on the Sunshine Coast were from circa $400/m² gross pa to circa $480/m² gross pa, "though have now fallen and the market remains volatile."
It had begun to impact on the traditional owner-occupier strata titled market, which generally has a value range from $3,500/sqm to $5,000/sqm depending on the location, size of the strata and overall quality.
HTW noted office sales over the past 12 months had begun to slow in this market as business owners have begun to look at the cost of owning or leasing and the quality of space that is available.
The largest of these developments, Kon Tiki in Maroochydore, is a mixed-use development with a range of retail uses to the ground level and medical uses within one of the two towers.
Kon Tiki is a mixed-use style development, the first of its type on the Sunshine Coast (above).
"While take-up of the office space has been slow, the majority of the lower level retail space is now taken up with the medical space also mostly taken up."
HTW forecast the new CBD development within Maroochydore will see further construction of large office complexes, but more in line with the mixed-use nature of developed CBD rather than the business park style developments that have been developed previously.
 
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j.ballantyne1990-6AQqhLzZaK

Kon Tiki sets the mix-use office trend for Sunshine Coast: HTW 

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The superannuation fund for the real estate industry has called for stricter controls on the establishment of self-managed superannuation funds (SMSFs) with small account balances.
It follows the release of the Productivity Commission’s draft report on superannuation, which finds that SMSFs with low account balances perform “significantly worse” than APRA regulated funds.
The Productivity Commission’s draft report confirms recent Australian Tax Office data on the performance of SMSFs, which show that very low balance SMSFs are unsustainable – often delivering negative returns – and that a lack of scale is a major risk to members.
REI Super is calling for new rules to make it harder for people with under $200,000 in their super to set up an SMSF.
The Productivity Commission’s draft report found that “many smaller SMSFs (those with balancesunder $1 million in assets) have delivered materially lower returns on average than larger SMSFs.”
It found that “costs for low-balance SMSFs are particularly high, and significantly more so than APRA-regulated funds. These high costs are the primary cause of the poor net returns experienced by small SMSFs on average.” 
It comes on top of devastating evidence before the Royal Commission into the Banking and Financial Services Industry earlier this month, of financial advisers pushing people with small superannuation balances into SMSFs, without considering whether or not it is in their best interest.
REI Super CEO Mal Smith said the ATO data showed that approximately one in five SMSFs have account balances of $200,000 or under. 
“This is a significant proportion of the superannuation industry to be subject to such considerable risk.
“The data is clear, and shows that you need an average of $2 million in your SMSF until you start to match the returns of APRA regulated funds.”
Mal Smith said the fund had recently spoken to several REI Super members who set up an SMSF, only to return to the fund after realising it was a mistake – due to low returns and hidden costs.
“One member with an account balance of $100,000 was advised to go into an SMSF by her accountant.
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“Another member was given bad advice and set up an SMSF with her husband with a combined account balance of $300,000.
“Like the other members we spoke to, they have returned to REI Super, where they have told us they are better off.
“They told us they were not prepared for how hard it was, how much time it took, and how much expertise was required to make informed investment decisions.”
Mal Smith said it shouldn’t be as easy as it is to set up an SMSF when good returns on low balances are on average not achieved.
“Changes to SMSF rules would help prevent financial advisers from encouraging people into an SMSF when it is not in their best interest.”
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REI Super calls for tougher regulation of low account balance SMSFs

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Marketing continues on the newest Docklands development, which is being described as Melbourne's new home of five-star living.
The project is the first Marriott to be built in Australia in 20 years.
Gone are the pre-conceived fittings of Marriott's of the past. The carpets and clunky furniture has been replaced by sleek designer inclusions and clean timber flooring.
The <a href="https://www.realestate.com.au/property-apartment-vic-docklands-127795066" target="_blank">Waterfront Way development</a> is wrapped in a translucent screen, with its curved glass facade providing views of the water and the city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/12/marriott4.jpg" alt="">
DKO Architecture are designing the building that will comprise 100 one to three-bedroom apartments above a rectangular hotel podium, which sprouts into two curved petal-shaped towers of 17 levels each.
There will be 200 rooms in total when it opens in 2020.
Crowning the project is a 28 metre wet edge resort-style rooftop infinity swimming pool and adjoining bar.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/26/docklands%202.jpg" alt="">
On the ground level there will be another bar, a restaurant and a laneway cafe. 
Developed by Capital Alliance, Marriott Docklands is part of the $250 million mixed-use The Docklands project.
Castran Gilbert South Yarra agent Mark Forytarz is handling the marketing. Castran Gilbert have a <a href="https://www.propertyobserver.com.au/component/content/article?id=82173" target="_blank">free e-book on property investment insights in Melbourne.</a>
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Marriott Docklands on Waterfront Way, Melbourne's new home of five-star living

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Queensland Treasury has warned of uncertainty in Brisbane's apartment market, especially if the southern markets of Sydney and Melbourne falter.
Both property taxes and mining royalties helped the Palaszczuk government revenue in yesterday's budget, with land tax receipts predicted to jump 11 per cent to $1.3 billion in 2018-19. Land tax thresholds have not been amended for a decade.
Stamp duty on transfers are estimated to rise 4 per cent to $3.2 billion, after a 5.7 per cent fall in 2017-18.
Payroll tax revenue was also expected to jump 5 per cent to $4.1 billion next financial year, with key sectors of construction, mining and manufacturing contributing to the growth, according to the budget papers.
Details revealed in Tuesday's Queensland budget indicate mining royalties are set to triple this year's expected surplus, rising from $485 million in the mid-year update to $1.51 billion.
"Domestically, uncertainty remains around the extent of oversupply in the apartment market, and any concurrent downturn in major southern capitals could exacerbate the downturn in Queensland," Treasury said in budget papers under "risks and opportunities".
Under the new taxes introduced in Tuesday's budget, foreign landowners will be slugged with an extra 0.5 per cent in land tax for properties worth more than $10 million plus an increase in the foreign transfer duty from 3 per cent to 7 per cent.
Both taxes will raise a total of $326 million over the next four years.
The First Home Owners Grant has been extended for another year, but reduced as foreshadowed to $15,000 and will not be extended to established homes.
The property sector received mixed news in the State Budget, handed down by Treasurer Jackie Trad, according to the REIQ.
“Taxing foreign buyers is a measure best suited to markets where affordability is an issue," the REIQ's chief Ms Antonia Mercorella said.
"That is not the case in Queensland."
“We have more than 550 suburbs throughout the state where the median house price is $500,000 or below and 132 of those suburbs are in Greater Brisbane.
"The REIQ was also disappointed that the State Government chose to drag its feet on stamp duty reform, ignoring expert advice that the stamp duty was a regressive, outdated form of property taxation that stifled housing mobility."
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Uncertainty looms as foreigners taxed higher in Queensland budget

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A Brisbane warehouse offering in Fortitude Valley has been sold for $2.7 million.
Listed as a trophy home blank canvas, it is set over three expansive open plan levels with approvals for a fourth level.
There is 377 square metres of internal floor area per level.
Access is via two street frontages, Wickham and Little streets.
The brick walls have that wear and tear too them that only time can render, Belle listing agent Ivo Kornel said.
"Build your dream New York Loft, walk out the front door and enjoy the buzzing nightlife," he suggests.
But likely options potentially include a night club, hotel and or a place for work.
It last sold at $1,825,000 in 2014.
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Fortitude Valley warehouse with night club or hotel conversion potential sold

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The Sydney office market is experiencing increased demand for non-traditional and traditional office space, according to the latest report from Herron Todd White (HTW).
The office market in Sydney has grown over the last 12 months as a result of increased demand for good investment assets, growth in rental income, stock reduction and generally lower vacancy rate, said the report. 
The valuation firms suggests large amounts of office stock have been removed either temporarily or permanently from the market.
The main reasons being residential conversions and redevelopment in the inner city.
Office stock withdrawals are set to outweigh new supply over the next 24 months, it forecast.
There has been an accompanying uplift in prices, an increase in rentals and a tightening of yields over the past 18 months in the North Western office markets, such as Chatswood, Macquarie Park and Norwest as well as other key office locations such as North Sydney (above) and Parramatta. 
Demand remains strong for good quality office space in the North Western office markets.
There is new development is centred around Parramatta, Norwest and Macquarie Park with improvements in infrastructure and continued growth of demand driving the market.
These areas have substantial new office developments underway or in the planning stages meaning more offices will be on the market from next year onwards.
Opportunities in emerging office markets also exist in other areas of Sydney.
The commercial centre of Liverpool is thought to be benefiting from the continued residential development in the southwest, proposed construction of the Badgerys Creek Airport and the extension of the Sydney Metro.
Areas that remain in demand and popular with owner occupiers and tenants are the inner city and city fringe areas such as Surry Hills, Alexandria, Woolloomooloo and Pyrmont.
The update concluded the outlook for Sydney’s office market looked "positive" for 2018 as demand continues to drive the market for both traditional type offices and more non-traditional options.
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Sydney office stock shrinking under increased demand: HTW 

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The Chatswood retail space, home to the former Fook Yuen Seafood Restaurant, has been listed for lease.
It is billed as unlocking a premier business opportunity in one of the North Shore’s most enviable locations. 
Fook Yuen, a Chatswood institution for more than three decades, closed its doors to its podium level restaurant at 7 Help Street in October last year. 
CBRE agents Amy Pfeiffer and James Beerworth have been appointed to lease the 941sqm space.
It is located inside the nine-storey building at the junction of Help and Railway streets.
"This high profile space could suit a large scale food &amp; beverage operation, fitness or education facility, medical user or office,” Ms Pfeiffer said.  
The property is offered for lease with 10 security car spaces and a single lockup garage.
The commercial grade kitchen has existing connections to grease and exhaust extraction, making it suitable as a future hospitality operation. 
“With an influx of restaurant operators from Sydney’s Chinatown looking to break into the Chatswood market, we expect there will be competitive interest in the offering,” Ms Pfeiffer added.  
 
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Chatswood restaurant Fook Yuen closes doors after three decades

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Office space in Melbourne’s iconic Tea House has become available for lease for the first time in four years as a growing number of businesses look for unconventional work environments.
Savills Australia’s Mathew Kent has been appointed to lease the prominent building at 28 Clarendon Street, Southbank.
It is anticipating interest from traditional corporate tenants, and the IT, insurance, interior design and fringe-based service sectors wanting to be close to the CBD.
“The Tea House has not been available since 2014 and since that time, there has been a surge in co-working business models, suite strategies, and employers wanting non-conventional office space for their employees,” Kent said.
“We have seen increased demand from tenants wanting to offer their employees an industrial-style office environment with exposed brick, creative break-out areas and a high standard of amenity – criteria that the Tea House meets, with the added charm of its heritage history.”
The building’s five floors are available for lease, with areas ranging from 567 square metres to 2,875 square metres, with the top floor offering a vaulted exposed ceiling and amazing natural light,” Kent said.
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Built in the late 1880s, the Tea House is best known for its stunning red brick facade and historic features.
“The landlord is now undertaking a major refurbishment to ensure the building meets today’s contemporary standards,” Kent said.
The new design will incorporate new lifts, a new ceiling grid, new lighting and new floor coverings.
Kent said the prime Southbank location, opposite the Crown entertainment complex and adjacent the Melbourne Convention and Exhibition Centre, would be a key drawcard for prospective tenants.
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Tea time for new tenants at the Tea House

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GUEST OBSERVATION
Traffic signals give priority to motor vehicles over pedestrians. This inequality undermines many of the stated goals of transport, health and environment policy.
State and city governments say they want to encourage walking and biking for many reasons:
- it is space efficient - it has less environmental impact - it is healthier - it is safer for other travellers - it reduces the numbers of cars on the road, so even motorists should be in favour of other people walking.
To help achieve these goals, road management agencies should reprioritise traffic signals to redistribute delays at intersections from pedestrians to cars.
Planners tend to focus on the long-term decisions, like infrastructure and land development. However, it is the shortest of short-term decisions, how many seconds of green light each movement gets at an intersection, that shapes perception of the feasibility of walking or driving to a destination at a given time. This influences the choice of route, destination and mode of travel.
Traffic signal timing involves maths, so has been historically delegated to engineers. But it also involves values and priorities, and so is the proper subject of public policy.
Since the early 20th-century dawn of what Peter Norton calls “Motordom, street space has steadily been regulated and enclosed. This has limited the rights and privileges of pedestrians while promoting those of drivers, in the name of safety and efficiency. But safety and efficiency for whom?
Pedestrians once crossed the street whenever and wherever they wanted. The introduction of signals prioritised the movement of motor vehicles at the expense of pedestrians, which slowed effective walking speed through the city. Pedestrians now spend roughly 20% of their time waiting at intersections. The consequences of making it easier to drive and harder to walk are consistent with the rise of vehicle-dominated cities.
<iframe src="https://www.youtube.com/embed/ZORzsubQA_M?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
How Barcelona is taking city streets back from cars.
How the phases of traffic signals work
Pedestrians take longer to cross streets than cars because they are slower. As a result, the "don’t walk” signal flashes before the light turns red.
<img src="https://images.theconversation.com/files/221495/original/file-20180604-177095-712qfo.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
 CC BY-ND
But at many intersections it is worse than that. Traffic signals are set to give less green time to pedestrians on a phase (from the time the light turns green to when it turns red, or from “walk” to “don’t walk”) than to motor vehicles, to give vehicles a protected left turn without having to yield pedestrians. Adaptive signal control also extends the green light for cars when these are detected, but not for pedestrians, who aren’t.
<img src="https://images.theconversation.com/files/221486/original/file-20180604-177111-oqxh1v.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
CC BY-SA
The average pedestrian arriving randomly at the intersection waits longer than a car. Several factors guarantee this.
<img src="https://images.theconversation.com/files/219524/original/file-20180518-26258-7p3zmj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
 Phases of traffic signals typically mean pedestrians wait longer than cars. Author provided
1. Cycle length
The cycle length (time from the start of the green light to the start of the next green) tends to be longer at busier intersections and busier times of day. A longer cycle length reduces the number of phases per hour, and thus reduces the lost time associated with each phase, when the intersection is not being effectively used by any approach. Lost time can never be reclaimed, so one understands why engineers might want longer cycle lengths if their main objective is to move cars.
However, long cycle lengths disadvantage pedestrians, who stand out in the open exposed to the elements and the exhaust emissions of cars, motorcycles, trucks and buses. Even more significantly, people consistently misperceive travel delay, so the wait feels even longer than it actually is.
2. Actuation/‘beg buttons’
While some signals are “fixed time”, modern signals are “actuated”. This means they respond to the presence of vehicles by adjusting the phasing and perhaps the cycle time.
Either a camera detects approaching vehicles or, more commonly, a sensor in the road, often a magnetic loop. This automatically allows the signal to stay green longer if it detects a vehicle approaching, or turn red sooner when there are no vehicles.
In contrast, for pedestrians, they must push a button to get a walk signal. If they arrive a second too late, they have to wait the entire cycle to get a walk signal. If there are many pedestrians, they don’t get a longer walk signal.
Pushing the “beg button” (so called as the pedestrian must request the signal) twice does not make it come faster or stay green longer. Ten, or a hundred, pedestrians do not make the “walk” light come faster either. The beg button is often positioned out of the way, requiring the pedestrian to walk further than would otherwise be required. A few seconds here, a few seconds there, add up.
There is a reason that traffic engineers don’t allocate automatic pedestrian phases. Suppose the car only warrants a six-second phase but a pedestrian requires 18 seconds to cross the street at a walking speed of 1 metre per second. Giving an automatic pedestrian phase even if there are no pedestrians will delay cars. And there is no sin worse than delaying a car.
3. Co-ordination
<img src="https://images.theconversation.com/files/219525/original/file-20180518-26277-1pxne8m.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
A 1929 traffic engineer’s signal schedule and traffic flow diagram across Market Street, San Francisco (click to enlarge). Green wave set to 10.5mph (about 17km/h). City of San Francisco
First introduced in 1922 in New York City, traffic signal coordination aims to ensure vehicles arrive at the traffic signal when it is green, so they don’t have to stop. By correctly timing signals in sequence, platoons of vehicles move together through a “green wave”.
Let’s say the wave is set for a speed of 40km/h. As long as a car accelerates from the first signal to 40km/h and maintains that, it should hit the following lights on their green phase.
This is relatively easy to maintain on a single road, but is more difficult on a network, especially a complex, asymmetric network. It also works against the idea of actuation, as interruptions to the pattern (extending or contracting phases) change the window in which cars can hit a green light at a given speed.
Of course, just because cars can make a green wave at a speed of 40km/h doesn’t mean pedestrians will make a green wave unless they travel at exactly a divisor of 40km/h (e.g. exactly 5km/h) between intersections. This means that pedestrians will more likely wait at red lights at intersections timed for cars.
Policies to improve the life of pedestrians
One of the world’s most widely deployed traffic signal control systems, the Sydney Coordinated Adaptive Traffic System (SCATS), was developed in Australia. Just as Australia led the way in traffic control to move cars more smoothly, it should lead in pedestrian-oriented traffic control. Those concerned about pedestrians should insist on a number of steps:
<ul>
<li>pedestrians, like vehicles, should be counted automatically at controlled intersections</li>
<li>there should be a pedestrian phase for every movement</li>
<li>traffic signal algorithms must give equal or greater weight to pedestrian time than to vehicle time</li>
<li>pedestrians should get the maximum feasible green time on a phase, rather than the minimum, so pedestrians arriving when the light is green can take advantage of it, and slower pedestrians are not intimidated by cars</li>
<li>pedestrians should get a “leading interval” so they can step into the street on a “walk” signal before cars start to move on a green light, increasing their visibility to drivers</li>
<li>pedestrian phases should be automatic, even if no actuator is pushed – the actuator should make the pedestrian phase come sooner and last longer</li>
<li>many more intersections should have an all-pedestrian phase (known as a “Barnes Dance”) so pedestrians can cross intersections diagonally without having to wait twice.</li>
</ul>
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Pedestrians cross diagonally at some the world’s busiest intersections, including Oxford Circus in the heart of London since 2009.
Numerous other steps could be taken to improve the life of the pedestrian and thus increase their number. Certainly, we can demand more patience from drivers as well.
The advent of autonomous vehicles over the next few decades is unlikely, by itself, to eliminate the need for traffic control. But autonomous vehicles should help increase throughput at intersections, losing less time than human drivers, and leading to cars behaving far more safely.
David Levinson, Professor of Transport, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/how-traffic-signals-favour-cars-and-discourage-walking-92675" target="_blank">original article</a>.
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How traffic signals favour cars and discourage walking

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A home at Warrnambool on Victoria’s southern coastline has just sold.
While the sale figure is undisclosed, it was advertised with a price guide of between $1.82 million and $2 million.
It was sold by Ian Baudinette from Harris &amp; Wood Real Estate,
It is a 2.5-hectare beachside block occupied by a four-bedroom house <a href="https://www.domain.com.au/9-logans-beach-road-warrnambool-vic-3280-2014292593" target="_blank">located at 9 Logans Beach Road, Warrnambool</a>.
The house comes with four bedrooms, four separate living areas, spa bathroom, updated kitchen with stone bench tops and double garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/12/WARRANAMBOOL%201.jpg" alt="">
It also features ocean views, stunning Northerly aspects and direct access to the beach.
This is the only property west of the whale viewing platform with a high water mark title.
The suburb's median house price sits on<a href="https://www.domain.com.au/9-logans-beach-road-warrnambool-vic-3280-2014292593" target="_blank"> $329,000</a>, according to CoreLogic. 
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Seaside Warrnambool trophy home with high water mark title sold

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

Joel Robinson

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

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

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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."

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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.

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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.

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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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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."

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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.

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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.

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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.

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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.

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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.”

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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.”

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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.

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“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.

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