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People power is the only way to send the big banks a message, says RateCity spokesperson Sally Tindall.
New research has revealed the average home loan customer could save $82,000 by switching from a big four bank, to a low rate online lender.
The comparison site RateCity is urging home loan customers unhappy with the behaviour of our major banks to shop around. 
New calculations show a family with a $350,000 loan looking for a fully-featured mortgage, could save up to $82,118 over the life of their loan, by going with the lowest comparable online lender, instead of a major bank.
RateCity spokesperson Sally Tindall said the only way to give the majors a wake-up call is to vote with your feet. 
“The big four banks have an incredible 75 per cent share of the home loan market.
"If you’re fed up with what’s coming out of the Royal Commission, now could be the time to switch.
“Online lenders are increasingly putting fully-featured loan products on the table – at significantly lower rates,” she said.
For example, the big four advertise fully-featured loans for about 4.5 percent, along with a hefty package fee of $395 a year, while some of the smaller lenders are offering fully-flexible loans for as little as 3.49 per cent, complete with a 100 per cent offset account and no ongoing fees.
Low rate online lenders with offset accounts
<img src="https://www.urban.com.au/images/2018/6/6/Low%20rate%20lenders.png" alt="">
 
Roughly 30% of lenders in the RateCity database are online.
Australia’s fifth largest home loan lender is online only (ING).
While nine of the 10 lowest rate lenders in the RateCity database are online lenders.
To find the best home loan for you it is recommended that you use a comparison site such as RateCity.com.au to research online lenders which including ratings for each product, find out what services each provider offers to field customer enquiries, test out their call centre and online chat service as well as reading online reviews, in particular social media feedback and it is of vital importance that they have a comprehensive website, check carefully for hidden fee's or charges as these are big red flags.
Mozo suggest some 7 in 10 home borrowers who have haggled their lender for a better home loan interest rate have received one.
According to research from Mozo.com.au, the comparison site consumers are far more comfortable haggling at the shops on a new fridge or television rather than their home loan, despite seven times the potential savings from home loan haggling, Mozo research has found.  
Mozo research indicates there is little reward for being a loyal mortgage customer unless you are actively pushing for a better deal on a regular basis.  
With 44% of mortgage holders currently on a home loan rate above 4.00%, there is plenty of room to haggle. More than half of the lenders in the Mozo database are now offering a rate under 3.70%. 
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j.ballantyne1990-6AQqhLzZaK

Home loan customers can save $82,000 by switching from a big four bank

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The 0.7% fall in Melbourne dwelling values over the three months to April 2018 was the greatest fall over a three month period since February 2012, CoreLogic has noted.
 Over the 12 months to April 2018, Melbourne dwelling values increased by 3.7% which was the slowest rate of growth since March 2013. 
With the recent declines, dwelling values in Melbourne are now 1.1% beneath their November 2017 peak. It deteriorated again in May, according to the latest data, with prices down 0.5% in May.
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Looking at the quarterly value change across the 10 market segments shows values fell across the higher valued housing stock. 
Each of the 7th to 10th deciles recorded a fall in dwelling values, with the declines becoming progressively greater. 
The 6th decile recorded the largest quarterly increase, there was no change in values across the 5th decile and the four lowest value deciles continued to record modest growth.
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The 10th decile was the only market sector where values fell over the past year while only the 8th, 9th and 10th deciles recorded growth that was lower than the headline city-wide figure. 
While the 2nd decile recorded the strongest annual growth at 12.0%, each of the 1st to 3rd deciles recorded double-digit capital gains over the past twelve months. 
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The figures shows a significant difference in the housing market’s performance between the most affordable and most expensive housing stock.
Based on the annual change data, the market for housing valued in excess of $1.12 million has weakened over the year while housing stock valued below $600,000 has continued to achieve strong value growth. More recently, housing stock valued at over $800,000 has started to see value declines.
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We have a free e-book from Castran Gilbert on property investment in Melbourne.
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Melbourne's biggest value declines across the pricier property markets: CoreLogic Decile Report 

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GUEST OBSERVATION
Online retail giant Amazon’s decision to block Australian shoppers from its US website has prompted an outpouring of anger from its customers. However, economic statistics indicate the actual value of online purchased products entering Australia from international marketplaces is relatively low. While some shoppers will be disappointed by Amazon’s decision, others will simply find ways around the geoblock.
The federal government has been <a href="https://www.2gb.com/gst-on-online-shopping-should-have-happened-ten-years-ago-gerry-harvey-says/" target="_blank">under pressure from legacy retailers like Gerry Harvey</a>, who have called for an end to the GST exemption on overseas online purchases worth less than A$1,000.
Federal Treasurer Scott Morrison last year <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22chamber%2Fhansardr%2F345ee0b5-7f9d-47ea-a37c-53d1b10edff0%2F0030%22" target="_blank">introduced legislation</a> for this measure, arguing it will “establish a level playing field for our domestic retailers”. From July 1, 2018, GST will apply to all overseas online purchases.
The Australian Retailers Association has proposed a “<a href="https://www.retail.org.au/mediacentre/ara-calls-productivity-commission-widen-net-gst/" target="_blank">vendor collection model</a>” under which foreign retailers would collect the GST at the time of purchase and then pay it to the Australian Taxation Office.
But the fact is that these measures won’t level the playing field. Overseas online prices for many items are so low that that even if GST were added, they would still be <a href="https://www.choice.com.au/shopping/online-shopping/buying-online/articles/buying-cheaper-clothing-online" target="_blank">far cheaper than they are in Australia</a>. For example, a recent search showed Levi’s 510 jeans for A$115 at Myer, compared with A$74.85 in the United States; and a Uniqlo Women’s ultralight down jacket for A$200 here, versus A$154.10 over there.
In 2017 Australians spent an estimated <a href="https://business.nab.com.au/wp-content/uploads/2018/02/NORSI-DEC-2017.pdf" target="_blank">A$24.2 billion online</a>. Yet this is just 7.8% of the amount spent at bricks-and-mortar shops. And more than 80% of online spending was through domestic retailers, which are subject to GST.
With only A$4.84 billion spent via overseas retailers, a quick calculation indicates that adding 10% GST to those purchases would have added A$484 million to the government’s coffers last year.
<h2>Why has Amazon blocked Australia?</h2>
Amazon has <a href="https://www.nytimes.com/aponline/2018/05/31/world/asia/ap-as-australia-amazon" target="_blank">blamed the new GST rules</a> for its decision to bar Australian shoppers, arguing that the vendor collection model would create significant operational difficulties:
<blockquote>
While we regret any inconvenience this may cause customers, we have had to assess the workability of the legislation as a global business with multiple international sites.
</blockquote>
Yet rival online seller eBay seems to have managed to <a href="https://sellercentre.ebay.com.au/content/gst-fees-ebaycomau" target="_blank">implement the vendor collection model</a> without undue trouble. It looks as if Amazon, which generated <a href="https://www.statista.com/statistics/266282/annual-net-revenue-of-amazoncom/" target="_blank">almost US$180 billion in sales last year</a>, views the Australian market as just too small to justify the hassle. In fact, one study has estimated that Amazon will only gain a <a href="https://www.macquarie.com/au/advisers/expertise/market-insights/is-amazon-the-end-of-australian-retail-as-we-know-it/" target="_blank">16% share of Australian online retail sales by 2025</a>.
Amazon’s view on Australia’s red tape may well be right. Modelling by Australia Post suggests that if the postal service were tasked with assessing and collecting the GST on international deliveries, it would cost almost A$900 million to collect A$300 million in revenue.
<h2>Who are the winners and losers?</h2>
As mentioned above, Amazon probably won’t suffer much from cutting loose its relatively small Australian customer base. But what about the customers themselves, and Amazon’s competitors?
When <a href="https://www.amazon.com.au/" target="_blank">Amazon Australia</a> (not to be confused with the now geoblocked US site) launched in December 2017, just in time for the Christmas rush, <a href="https://www.smartcompany.com.au/industries/retail/amazon-australia-3-8-million-aussies-december" target="_blank">3.8 million Australians visited the site</a> during that month alone. But this is well short of the <a href="https://www.smh.com.au/business/small-business/does-amazon-australias-retail-launch-spell-the-end-of-ebay-20171205-gzywck" target="_blank">11 million Australian shoppers</a> who visit eBay each month.
Amazon’s withdrawal will undoubtedly benefit eBay and other sites such as <a href="https://www.alibaba.com/countrysearch/AU/australia" target="_blank">Alibaba</a>, which look set to attract shoppers who are still hungry for an international bargain.
While some dedicated fans of Amazon’s US site are <a href="https://www.news.com.au/national/nsw-act/we-regret-any-inconvenience-this-may-cause-amazon-to-stop-shipping-to-australia-from-july-1/news-story/f90d87e59d29cc589ea9c184f3f5f40b" target="_blank">understandably annoyed</a>, most customers simply won’t notice the difference. Customers will be automatically directed to Amazon’s domestic offering, which claims to stock more than 60 million products.
For Australia’s traditional retailers, the playing field still isn’t really “level”, even without access to Amazon US. Don’t expect everyone to suddenly start banging down Harvey Norman’s doors come July 1. In reality the impact will be minimal.
<h2>How to get around the geoblock</h2>
For the very determined shopper who demands access to Amazon US, there are naturally ways around geoblocking technology, such as re-shipping services, freight forwarders, and <a href="https://www.choice.com.au/electronics-and-technology/internet/internet-privacy-and-safety/articles/bypass-geo-blocking" target="_blank">VPNs</a>.
<img src="https://counter.theconversation.com/content/97612/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">But given that the <a href="https://gopages.neto.com.au/rs/618-SCT-255/images/The%20State%20of%20Ecommerce%20Guide%202017.pdf" target="_blank">average online shopping basket</a> was worth A$145 in 2017, it seems like a lot of trouble to go to just to avoid paying A$14.50.
<a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">Gary Mortimer</a>, Associate Professor in Marketing and International Business, <a href="http://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/fear-not-shoppers-amazons-australian-geoblock-wont-cramp-your-style-97612" target="_blank">original article</a>.
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Online overseas shopping not prevalent before Amazon geoblock

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The home titles, Inside Out, Country Style and homelife.com.au have been sold to Bauer Media by News Corp.
Country Style, Inside Out and Homelife.com.au and their editorial teams are said to be an "ideal complement to Bauer’s existing stable of homes titles."
"We know that they will have a strong publishing future with Bauer," the executive chairman of News Corp, Michael Miller said.
The acquisition will see Bauer’s Homes portfolio become the pre-eminent destination for readers looking for creative inspiration and expert advice in an ever-changing home environment, he added. 
The July editions of Country Style and Inside Out will be our final issues before the editorial teams make the move to Bauer Media.  
The products will be led by Bauer Homes editor-in-chief Lisa Green, who has been at the helm of House &amp; Garden since 2006, Mumbrella noted.
Inside Out acting editor Victoria Baker and Country Style and HomeLife.com.au editor-in-chief Victoria Carey will remain in their roles and move across to Bauer, but associate publisher of homes Claire Bradley will remain at News Corp for a new opportunity.
Miller said he was often approached by numerous parties interested in parts of our publishing portfolio.
"We are focused on orienting our business towards markets and categories that represent growth for us, such as our food and prestige networks, and after significant review of our magazine publishing assets, we have decided to divest our home titles, Inside Out, Country Style and homelife.com.au, in response to interest from Bauer Media."
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Inside Out and Country Style magazines off to Bauer Media

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Sales are bolstering Bartercard’s property sector, with the network close to settling a record-breaking 100 properties this financial year.
The figure follows a highly successful 2016 and 2017 financial year for Bartercard, with sales up 71 percent.
It will mark the most successful year to date in property sales across the network’s 27-year history following the launch of the Bartercard Property website in 2016.
Bartercard’s real estate and development specialist Carl Hassard said members were seeing the benefits of investing in property via the network, which currently offers more than $140 million in listings.
With each property listed offering a set trade dollar component, members of the Bartercard network can use the digital currency towards the total purchase price of the property.
Hassard said by purchasing property using trade dollars, members could access an interest-free line of credit. 
“There is no other business known to me that will lend you funds interest-free and then send you the business to reduce that line of credit,” Mr Hassard said. 
In the past year, Bartercard South Gold Coast has helped its clients, being a mix of buyers and sellers, to settle a total of 18 properties via the network – with the total sales figure incorporating close to $1.1million in trade dollars.
To educate members of the benefits of buying and selling property on Bartercard, Mr Hassard has launched a series of informative property seminars, providing an unbiased professional opinion to members looking for a suitable property to invest in.
Mr Hassard said 97 per cent of property bought via Bartercard Property is for investment purposes with the property portfolio consisting of mainly investment-grade stock. 
“Property investment is an ideal way to use trade dollars to achieve long-term financial prosperity,” said Mr Hassard.
“This can result in a margin, or purchasing discount, to the buyer on the total purchase price when buying a property.” 
There are around 240 properties currently listed onsite for sale.  
Bartercard founder and South Gold Coast franchise principal Andrew Federowsky said Bartercard Property is just another great way for members to utilise their trade dollars. 
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Record-breaking property sales activity for Bartercard

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GUEST OBSERVATION
Cities worldwide face the problems and possibilities of “volume”: the stacking and moving of people and things within booming central business districts. We see this especially around mass public transport hubs.
As cities grow, they also become more vertical. They are expanding underground through rail corridors and above ground into the tall buildings that shape city skylines. Cities are deep as well as wide.
The urban geographer Stephen Graham describes cities as both “vertically stacked” and “vertically sprawled”, laced together by vertical and horizontal transport systems.
People flow in large cities is not only about how people move horizontally on rail and road networks into and out of city centres. It also includes vertical transport systems. These are the elevators, escalators and moving sidewalks that commuters use every day to get from the underground to the surface street level.
Major transport hubs are where many vertical and horizontal transport systems converge. It’s here that people flows are most dense.
But many large cities face the twin challenges of ageing infrastructure and increased volumes of people flowing through transport hubs. Problems of congestion, overcrowding, delays and even lockouts are becoming more common.
Governments are increasingly looking for ways to squeeze more capacity out of existing infrastructure networks.
Can we increase capacity by changing behaviour?
For the last three years, Transport for London (TfL) has been running standing-only escalator trials. The aim is to see if changing commuter behaviour might increase “throughput” of people and reduce delays.
London has some of the deepest underground stations in the world. This means the Tube system is heavily reliant on vertical transport such as escalators. But a long-standing convention means people only stand on the right side and allow others to walk up on the left.
In a trial at Holborn Station, one of London’s deepest at 23 metres, commuters were asked to stand on both sides during morning rush hour.
The results of the trials showed that changing commuter behaviour could improve throughput by increasing capacity by as much as 30% at peak times. But this works only in Tube stations with very tall escalators. At stations with escalators less than 18 metres high, like Canary Wharf, the trials found the opposite – standing would only increase congestion across the network.
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By standing only, 30% more people could fit on an escalator in the trial at Holborn Station.
The difference is down to human behaviour. People are simply less willing to walk up very tall escalators. This means a standing-only policy across the network won’t improve people flow uniformly and could even make congestion worse.
Is people movement data a solution?
With the introduction of ticketless transport cards it’s now possible to gather more data about people flow through busy transport hubs as we tap on and off.
Tracking commuters’ in-station journeys through their Wi-Fi enabled devices, such as smart phones, can also offer a detailed picture of movement between platforms, congestion and delays.
Transport for London has already conducted its first Wi-Fi tracking trial in the London Underground.
Issues of privacy loom large in harvesting mobile data from individual devices. Still, there’s enormous potential to use this data to resolve issues of overcrowding and inform commuters about delays and congestion en route.
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London’s transport authority hopes the data from tracking users’ phones will help ease congestion, plan better timetables and improve station designs.
Governments are also increasingly turning to consultancy firms that specialise in simulation modelling of people flow. That’s everything from check-in queues and processing at terminals, to route tracking and passenger flow on escalators.
Using data analytics, people movement specialists identify movement patterns, count footfall and analyse commuter behaviour. In existing infrastructure, they look to achieve “efficiencies” through changes to scheduling and routing, and assessing the directional flow of commuters.
Construction and engineering companies are also beginning to employ people movement specialists during the design phase of large infrastructure projects.
Beijing’s Daxing airport, due for completion in 2020, will be the largest transport hub in China. It’s also the first major infrastructure project to use crowd simulation and analysis software during the design process to test anticipated volume against capacity.
The advice of people movement specialists can have significant impacts on physical infrastructure. This involves aspects such as the width of platforms, number and placement of gates, and the layout and positioning of vertical transport, such as escalators.
Movement analytics is becoming big business
People movement analytics is becoming big business, especially where financialisation of public assets is increasing. This means infrastructure is being developed through complex public-private partnership models. As a result, transport hubs are now also commercial spaces for retail, leisure and business activities.
Commuters are no longer only in transit when they make their way through these spaces. They are potential consumers as they move through the retail concourse in many of these developments.
In an era of “digital disruption”, which is particularly affecting the retail sector, information about commuter mobility has potential commercial value. The application of data analytics to people flow and its use by the people movement industry to achieve “efficiencies” needs careful scrutiny to ensure benefits beyond commercial gain.
<img src="https://counter.theconversation.com/content/92827/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">At the same time, mobility data may well help our increasingly vertical cities to keep flowing up, down and across.
Andrea Connor, Postdoctoral Research Fellow, Institute for Culture and Society, Western Sydney University
Donald McNeill, Professor of Urban and Cultural Geography, Western Sydney University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/growing-cities-face-challenges-of-keeping-the-masses-moving-up-down-and-across-92827" target="_blank">original article</a>.
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Growing cities face challenges of keeping the masses moving up, down and across

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GUEST OBSERVATION
The stars aligned over Warwick Farm, New South Wales, this week. Sharing the stage at the Aerotropolis Investor Forum, Prime Minister Malcolm Turnbull, New South Wales Premier Gladys Berejiklian and Liverpool City Mayor Wendy Waller were resolutely on the same script. For many Australians, including the prime minister himself, the fact that all levels of government are backing the Western Sydney airport project was remarkable. Yet bipartisan support is essential for such a project to succeed.
In a study released this week by the United States Studies Centre, we analysed the success factors of several US airport cities and found parallels that the Western Sydney development could draw on. We also identified policy settings that need to be resolved before the airport opens. That includes ensuring 24-hour operations, for a start.
What sort of development is this aerotropolis?
US geographic economist John D. Kasarda popularised the term aerotropolis to describe an integrated urban area around an airport – as opposed to the more usual ad hoc expansion of economic activity around airports.
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Kasarda’s Aerotropolis.
The state and federal governments have adopted the term to define their aspirations for the greenfield site at Badgerys Creek. It presents, as Berejiklian told the overseas investors and infrastructure companies, a “once in a century opportunity” to go far beyond an airport as merely a runway and associated infrastructure.
The NSW government’s vision is more akin to Dallas-Fort Worth International Airport in Texas, the assembled advisers and government agencies explained. However, for every successful aerotropolis – like the Zuidas economic zone that hugs Amsterdam Schiphol airport, or the Dulles Technology Corridor along the main road linking Virginia’s Dulles Airport and Washington DC – there are many grand airport terminals struggling to remain viable.
The risk is lower in Australia, partly because of our more modest tastes in infrastructure architecture.
Even so, any new airport is at risk of being underused. This is especially true in a city where a new airport is competing against an incumbent.
However, all layers of government, but particularly the state government, are determined to avoid the Western Sydney airport becoming a white elephant, not least because the ultimate aim is to sell it to a private operator.
The American example
The most striking observation that arose from our study is that the NSW government has no power to deliberately shift air traffic to the new airport. This was de rigueur in 1970s and 1980s America.
The rise of Dallas-Fort Worth is a prime example. Dallas’s downtown airport at Love Field was closed, as was Great Southwest Airport in Fort Worth. Their traffic was amalgamated at Dallas-Fort Worth by legislative instrument (although a court challenge by low-cost carrier Southwest Airlines resurrected Love Field as its headquarters). The result is a major airport surrounded by one of the most economically productive metropolitan regions in the world.
Similarly, in Washington DC, noise complaints about Washington National Airport (later named after former US president Ronald Reagan) prompted authorities to force intercontinental jets to the new Dulles International Airport. US defence manufacturers set up offices nearby; hotels and conference centres followed. The counties around Dulles are now home to the highest concentration of defence aerospace headquarters and employees on the planet.
<img src="https://images.theconversation.com/files/221075/original/file-20180531-120499-eapx8h.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Economic impact of commercial airports in the United States. United States Studies Centre/CDM Smith and IMPLAN (July 2014)
The state of play in Australia
Most US airports are owned and operated by government, in contrast to Australia. Because Sydney Airport is a privately run enterprise with agreed (if contested) operating restrictions, imposing further restrictions would be politically and financially impossible. Shareholders would demand compensation for any loss of business.
The restrictions on Sydney Airport (including noise-sharing routes, movement caps, and an 11pm-to-6am curfew) are due to federal law, not local ordinances as in the United States. Regardless, the Commonwealth is unlikely to further restrict traffic at the airport, not least because its proximity to the CBD is attractive to corporate travellers.
Instead, the governments must work with the hand they have been dealt. The NSW government is pinning its hopes for the aerotropolis on sectors such as defence aerospace, air freight logistics, advanced health care, and food agtech.
In many of these areas, however, Australia lacks a track record. New industries can be created, but it will be a case of starting from a position of weakness, rather than strength.
Take defence aerospace: Australia is a buyer of defence materiel rather than a supplier. What defence expertise there is is divided between South Australia, Queensland and Victoria, as well as NSW. This does not rule out its development as a major employment sector, but the conditions will need to improve. The planned defence aerospace precinct will have to attract many more businesses besides the anchor tenant, Northrup Grumman.
This was the point of the investor forum. Eight ministers, state and federal, were on hand and many made themselves available for investors to ask questions. This level of access at a public forum is unusual in Australia, and underscored the governments’ serious intent.
So what more can governments do?
Some policy settings need to be resolved before the airport opens. Legislating for 24-hour operations is a straightforward, but not uncontentious, move. Unpicking some other regulations may be trickier.
Take, for example, air services agreements. These are international bilateral treaties that restrict the number of flights between two countries. Within the detail of these agreements is a description of cities as greater metropolitan entities that would, if not amended, lump Western Sydney Airport with Sydney Airport under the same cap.
For the new airport to compete for passenger traffic, every tool at its disposal needs to be used to lure airlines. Removal from the bilateral quota is one such tool the federal government can use.
Similarly, a greater ability to vary landing charges and air traffic management fees for smaller airports needs to be considered for both Western Sydney Airport and Avalon Airport in Geelong. Competitive pricing is needed to attract low-cost carriers.
More fundamentally, governments need to stick to the bipartisan path on the airport’s development that shadow infrastructure and transport minister Anthony Albanese persuaded the Labor Party to adopt in the early days of the Abbott government. As the politicians on the aerotropolis forum stage know all too well, grand projects have been scuppered in Australia by political infighting.
Justin Wastnage, Non-resident Innovation and Entrepreneurship Program Fellow, United States Studies Centre, 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/western-sydney-aerotropolis-wont-build-itself-a-lot-is-riding-on-what-governments-do-97462" target="_blank">original article</a>.
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Western Sydney Aerotropolis won't build itself – a lot is riding on what governments do

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GUEST OBSERVATION
This is an edited extract from Jacqui Dwyer, head of the RBA's information department, address to the Business Educators Australasia Annual Meeting.
Education in Australia is receiving a lot of attention at present. Against the background of Australia's core learning skills at school, there is much debate among educators about what we should teach, how we should teach it and how we should assess it. In terms of ‘what’ should be taught, the current debate provides a good opportunity to raise awareness of economics as a valuable field of study.
Economics is relevant to us all. Every day our lives are affected by economic decisions – ones we make personally and ones that are made by others. Economics is about how individuals and societies choose to allocate their limited resources to meet their needs and wants. It's about how we respond to incentives, make trade-offs, weigh up costs and benefits – and how we decide what is efficient and what is fair. Economics contains some powerful concepts and useful frameworks. It can help us better understand the choices involved in many personal decisions we make, and better understand the economic conditions and policies that affect our lives.
Given the relevance of economics, and the social benefits of economic literacy, how widely is it studied? Be it at high school or university, economics was once widely offered and widely chosen – but that is no longer true. This is weighing on both the size and diversity of the student population, with implications for economic literacy and the longer-term health of the economics discipline in Australia.
The High School Scene
First, I want to remind you of some of the key features of the economics landscape at Australian high schools.
Nationally, there has been a dramatic decline in Year 12 economics enrolments over the past 25 years of around 70%. Our case study of enrolments in New South Wales (for which we have the most detailed data), shows an even greater fall of 75% over the same period. This fall was concentrated in the early 1990s when economics was displaced by the introduction of business studies in 1991 – arguably a less analytically demanding and vocationally oriented subject (Graph 1).
<img src="https://www.urban.com.au/images/2018/5/29/G%201.gif" alt="">
In 1991, economics was the third most popular subject choice in New South Wales, surpassed only by English and mathematics. It was also taught in nearly all schools. These days, we find that it is taught in less than one-third of government schools and a little over half of non-government schools. Consistent with economics now being less available as a subject choice in government schools, there are sharply declining economics enrolments, especially in the comprehensive schools that the majority of students attend (Graph 2).
<img src="https://www.urban.com.au/images/2018/5/29/G%202.gif" alt="">
Another defining feature of the high school scene is the fall in the share of female students enrolled in economics. Again, in the early 1990s, there were roughly even shares of male and female students in economics classrooms, whereas these days there are roughly twice as many male students as female students (Graph 3). This gender imbalance is more pronounced than for STEM (science, technology, engineering and mathematics) and contrasts with the high and stable ratio of female to male students in the rival subject of business studies.
 
<img src="https://www.urban.com.au/images/2018/5/29/G%203.gif" alt="">
So over the course of a generation, there has been a pronounced fall in the size and diversity of the economics student population at Australian high schools. Has the same pattern been evident at universities?
The University Scene
In looking at university enrolments in economics, it is necessary to first establish what we mean by economics. At university, economics can be taken as a degree, a major or a subject within many different courses. We rely on each university's judgment about ‘how much economics’ counts as an economics enrolment when they report on this to the Department of Education and Training (DET).<a id="r2" href="https://www.rba.gov.au/speeches/2018/sp-so-2018-05-26#fn2"> </a>
Graph 4 compares economics enrolments in Australian high schools with university enrolments. It shows that while there has been a large fall in the level of economics enrolments at high school, economics enrolments at university have been fairly constant since the early 1990s and have fallen slightly since 2001 (when we have a series break in our data because the classification structure of subjects changed).
<img src="https://www.urban.com.au/images/2018/5/29/G%204.gif" alt="">
But how does this compare with growth in other subjects and the overall student population at university? Since 2001, while economics enrolments have edged down, enrolments in rival subjects have expanded, as has the total student population. In other words, economics is also being displaced at university by business-oriented subjects (banking, finance, management and commerce) and is lagging STEM in its ability to attract students (Graph 5). While these courses teach valuable skills, and some include similar skills to those learned in economics, economics students are a declining share of the university student population.
 <img src="https://www.urban.com.au/images/2018/5/29/G%205.gif" alt="">
One question that my colleagues ask is whether the declining share of students studying economics at uni reflects declining demand for economists in the job market. We actually don't know much about the level of demand for economic skills. But we do know that fewer universities are offering economics and half of those that do are in New South Wales and the ACT (Graph 6). Institutional concentration is not necessarily a problem – those universities that continue to offer economics may have high-calibre programs and attract high-calibre students. However, such concentration will weigh on the diversity of the economics student population if these universities do not have inclusive approaches to accepting students. Furthermore, the need to relocate to study economics will be a barrier for some students who might otherwise have chosen the subject.
 <img src="https://www.urban.com.au/images/2018/5/29/G%206.gif" alt="">
 
So let's look at some explicit indicators of diversity in economics. At university, there are more than twice as many male students as female students who study economics. And while there has always been a gender gap at university (unlike at high schools where gender balance once existed), this gap has widened over the past decade and is even more pronounced than presently at high school (Graph 7).
 <img src="https://www.urban.com.au/images/2018/5/29/G%207.gif" alt="">
Another important element of diversity is socio-economic status. A striking feature of the university data is the share of students studying economics who come from high socio-economic backgrounds – currently over 55%. This share has been increasing over the past twenty years, just as it has for economics students at high school (Graph 8). Furthermore, the share of university economics students from backgrounds of high socio-economic status exceeds that for rival subjects, and it significantly exceeds that for STEM students and the student population overall (Graph 9).<a id="r4" href="https://www.rba.gov.au/speeches/2018/sp-so-2018-05-26#fn4"> </a>
 <img src="https://www.urban.com.au/images/2018/5/29/G%208.gif" alt="">
<img src="https://www.urban.com.au/images/2018/5/29/G%209.gif" alt="">
 
What's Wrong with This Picture?
It is of concern to see the drift toward a smaller and more homogenous population of economics students – both at school and university. The number of students who study economics influences the level of economic literacy in society. And the diversity of those students ultimately influences the collective ability of the economics profession. Diversity has bearing on the economic questions that we ask, our approaches to answering them how we action solutions. Because those who study economics shape the discipline and determine economic policies, there are wider social benefits when the population of economics graduates is broadly representative of society.
The importance of diversity in the study of economics is increasingly being voiced by central bankers. The Chief Economist of the Bank of England, Andy Haldane, has been vocal about this issue. So too have researchers Amanda Bayer and David Wilcox who, in a US Federal Reserve discussion paper, identify pervasive imbalances in economics education in the United States and argue that this is a matter that warrants urgent attention.<a id="r6" href="https://www.rba.gov.au/speeches/2018/sp-so-2018-05-26#fn6"> </a>
So what has been driving the fall in size and diversity of Australia's economics student population? A number of forces are at work. To help inform the Bank's public education program, we have done a lot of data analysis and liaison with educators, education authorities and students. There are some dominant themes.
Economics has become less prominent. In the 1980s and early 1990s, economics was the subject of national debate. There was the lived experience of recession and big economic events like the floating of the dollar and the deregulation of labour and financial markets. So prevalent was the discussion of economics that former Prime Minister Paul Keating once said ‘I guarantee if you walk into any pet shop in Australia, the resident galah will be talking about microeconomic policy’. With Australia having experienced over a quarter of a century of continuous economic expansion, there is now a less involving – and less mature – national conversation about economics.
A relatively benign economic environment appears to have reduced the curiosity of students in seeking to learn about economics. However, the single largest factor weighing on the study of economics appears to have been the emergence of business studies as a subject choice in schools, and the growing dominance of business schools at universities.
When compared with rival subjects, economics has an image problem. Too few students understand what economics is and how it is relevant to them. Consequently, in a cluttered curriculum – at both high school and university – they are less likely to choose it. And if economics is no longer a core subject in many courses, the incentives to choose it fall further.
A key consideration in making a subject choice is its employability, especially given the effort and expense involved in investing in education. Many students - and importantly their parents - consider economics to be less employable than business-oriented subjects. They value subjects and degrees with a clear pathway to a specific occupation (e.g. by studying accounting you can become an accountant). However, the data tell us that graduate starting salaries are higher for economic students than students who take business-oriented subjects and that full-time employment rates are broadly similar. In fact, the sorts of skills acquired in the study of economics – such as analytical and problem solving skills – are likely to be highly valued as the nature of work changes (as explained by the Bank's Head of Economic Analysis, Alex Heath, in her speech on <a href="https://www.rba.gov.au/speeches/2017/sp-so-2017-12-01" target="_blank">Skills for the Modern Workforce</a>). It is perhaps because economics graduates are less likely to be employed in their subject field that the misperception about employability arises.
Role models are also important, and the lack of visibility of what an economist does results in a shortage of role models. Furthermore, to the extent that economists are visible, too often they are a homogenous bunch. This can have the effect of discouraging students, particularly females and those from minority backgrounds.
The lack of diversity in the economics profession speaks to implicit biases that also manifest themselves in the presentation of economic content – ranging from the lower rates of success in publication experienced by female economists, through to lower representation of females in economic examples in textbooks. Much has been made in recent years of the fact that females (or minority groups) rarely appear in textbooks, other than in stereotypic roles. This can be discouraging to female students and others who are not represented.
But in addition to all these factors that influence the choices a student might make, there are disincentives facing schools and universities in offering economics.
At the end of the day, schools and universities need to think about the value proposition of offering subjects. At high schools, where the fall in enrolments has been dramatic, principals need to assess whether economics enrolments are at a critical mass to support classes. They also need to have teachers who are equipped to deliver these courses. Over the past 20 years there has been a decline in the number of teachers who have themselves studied economics at university. With teachers increasingly teaching economics ‘out of field’, their confidence in delivering economics courses can be low.
Teaching economics at school is difficult. The concepts are analytically challenging and the script is always changing, given the need to include current economic conditions. The requirement for teachers to be across economic developments is demanding, especially if they are teaching out of field. Business studies, on the other hand, is easier to teach and has the (incorrectly) perceived benefit of greater employability. Consequently, in many schools, teaching resources have been allocated to business studies rather than economics.
Universities are faced with similar decisions about allocating resources. Additionally, their choices are influenced by government decisions that affect teaching revenue. Most domestic undergraduate students occupy ‘Commonwealth supported places’ where fee revenue is made up of a student contribution plus a government contribution. Economics is in the unfortunate position of being in the course group (along with law, commerce, accounting and administration) that has the highest student contribution and the lowest government contribution (Graph 10).
 <img src="https://www.urban.com.au/images/2018/5/29/G%2010.gif" alt="">
 
On top of this, analysis by Deloitte Access Economics suggests that, on average, universities only roughly break even in delivering economics to domestic students. But universities gain substantial revenue from courses offered to overseas students (where fees for economics and business courses can be twice those charged to domestic students). The business-oriented courses of commerce and management in Australia now attract around one-third of total overseas student enrolments; in fact, in 2015, there were 70 overseas students enrolled in commerce and management for every overseas student enrolled in economics. Consequently, business schools have been described as the ‘cash cows’ of Australian universities with large profits that are redistributed to fund other university activities, encouraging administrators to focus on offering business courses over economics.
The decision of administrators to favour business courses over economics is reinforced by lower completion rates in economics than in rival courses and university courses overall. Economics also disappoints on other metrics considered by administrators, such as rankings in research output.
A combination of these factors has left an entire generation of students less engaged with economics, less educated about it and potentially less equipped to understand or react to changes in their economic environment.
The Bank's Response
The Bank has always been committed to supporting people who want to learn more about economics and the Australian economy. Our observations about developments in economics education encouraged the establishment of the Bank's public education program. The program is still in its infancy, and we are grateful to you for the role you have played in helping us understand the needs of educators and students as we develop our educational resources and activities. In the course of doing this, we have learned much about how inaccessible economics can be and how much needs to be done to address that.
We have developed a series of resources that are designed to support students and educators, as well as being relevant for more general audiences. You can see these on the education section of the Bank's website. Our Ambassador program is well established with a group of young Bank economists delivering talks to students and educators across the country, including going into classrooms. We are out and about more, explaining what economics is, providing insights into what we do as economists and hopefully providing some useful role models. (This includes promoting awareness of role models outside the Bank, such as prominent Australian <a href="https://www.rba.gov.au/education/resources/women-in-economics" target="_blank">women in economics</a>.)
On more formal aspects of our program, we have made a <a href="https://www.rba.gov.au/publications/submissions/education/submission-to-nesa-review-of-commerce-years-7-10-syllabus/" target="_blank">submission</a> in support of economics being included in the middle years of high school in New South Wales. And the Bank is now an accredited provider of professional development for economics teachers. In fact, we look forward to seeing some of you at our annual Teacher Immersion Event next month.
Economics is relevant to students in many ways that they may not explicitly recognise. Students have great interest in understanding their own material welfare and that of society more broadly. They are interested in the personal and collective choices that determine such welfare, now and in the future. This all relates to economics. We need to make students aware of the ways in which economics can inform and empower them.
From improved economic literacy in the community, through to improved design of public policies, economics education delivers significant social benefits. In other words, there are civic returns to studying economics. Your role in encouraging that study is very important.
Jacqui Dwyer is head of the Reserve Bank of Australia's information department.
For the original speech, <a href="https://www.rba.gov.au/speeches/2018/sp-so-2018-05-26" target="_blank">click here.</a>
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What happened to the study of economics? RBA's Jacqui Dwyer

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A four bedroom 1960s house in Koongamia, a north-east suburb of Perth, has been sold at $300,000 by mortgagees.
It was sold by Alison White from Swan Real Estate.
It previously sold at $350,000 in 2013 and at $330,000 in 2007.
Situated on a 691 square metre block, <a href="https://www.realestate.com.au/sold/property-house-wa-koongamia-126978686" target="_blank">the 51 Jinda Road house </a>comes with three minor bedrooms, separate living room, and modernised kitchen.
Extra features include high ceilings, wooden floorboards, and sizeable laundry. 
There is also a raised decked patio to the rear, overlooking a spacious backyard.
Located in close proximity to Clayton View Primary School and public transport, it is only a short drive to the hub of Midland, St John of God Hospital, local shops and Midland Gate shopping complex.
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Koongamia four bedroom house sold by mortgagee

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Melbourne's highest weekend sale was $5.44 million in Middle Park through Cayzer Real Estate.
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It was an <a href="https://www.realestate.com.au/property-house-vic-middle+park-128298970" target="_blank">original Edwardian residence</a>, with Little Page Street along its side, offered for the first time in over 60 years. 
It was sold by Michael Szulc and Geoff Cayzer from Gayzer Real Estate.
<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/2018/6/5/middle%20park%202.jpg" alt="">
The 80 Nimmo St house comes with four bedrooms, combined living/dining, kitchen incorporating meals, bathroom and sunroom.
Its location with Little Page Street along its side allowing abundant natural light and easy access.
<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/2018/6/5/middle%20park%203.jpg" alt="">
Its price guidance was based on other comparable sales.
A recent sale nearby is a Canterbury Road six bedroom house.
It was sold at $5.575 million on February 24.
<a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-127461722" target="_blank">The 33 Canterbury Rd </a>house comes with five bedrooms, gourmet kitchen, light-filled living and dining area and private garden.
Another<a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126188014" target="_blank"> 136 Page St </a>five-bedroom house in Middle Park was traded at $6.4 million last year. 
The suburb's median house price sits on $2.2 million, according to CoreLogic. 
 
 
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Middle Park trophy home fetches $5.44 million

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

Joel Robinson

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

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

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

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

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

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

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