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Foreigners buying WA real estate will be hit with a 7 per cent surcharge on the purchase price as the McGowan Government moved in last week's budget to almost double the tax.
Targeting overseas buyers, the State Budget included an increased rate from the 4 per cent surcharge which was announced in last year’s Budget.
The new rate of 7 per cent will be applied to foreign property buyers from January 1 next year, bring WA in line with other states which currently levy their surcharges at 7 per cent or 8 per cent..
It hopes to raise about $123 million between the 2018-19 and 2021-22 financial years.
On handing down the Budget, Treasurer Ben Wyatt noted the higher surcharge is not a new tax because it was a policy commitment made during the election campaign last year.
“Increasing the foreign buyers surcharge to 7 per cent will bring WA in line with other States, and provide the Government with additional revenue to help the State’s financial position,” Mr Wyatt said.
Last year the Government believed the charge to foreign buyers would bring revenue of about $21 million in its first year.
The charge will apply on the dutiable value of residential property purchased by foreigners and it will also capture corporations and trusts.
It will be applied on top of standard stamp duty payments.
NSW charges foreign buyers an 8 per cent surcharge, Victoria and South Australia charge 7 per cent, and Queensland 3 per cent.
The West Australian government is counting on the lithium boom to help it manage record state debt.
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j.ballantyne1990-6AQqhLzZaK

Western Australia to raise tax on foreigners buying property

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A Dallas home in the North if Melbourne has been sold by mortgagees for $564,000.
It was sold by Hanifi Ozkoca from Professionals on May 7.
<a href="https://www.realestate.com.au/sold/property-house-vic-dallas-128070190" target="_blank">Situated at 8 Corinella Crescent</a>, Dallas, the three bedroom house home comes with three bedrooms, 'L' shaped lounge and dining room, and bright modern kitchen. 
Set on a 668 sqm block, it is near Dallas Shopping Center, Ilim College, Hume Valley School, and Coolaroo Rail Station. 
It was last traded for $400,000 in 2010.
The suburb's median house price sits on $434,500, according to CoreLogic. 
 
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Dallas three bedroom house sold by mortgagee 

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A Sunshine Coast real estate agent has been fined $25,000 when banned for a decade after directing tenants' rent into her own account for six months.
Elizabeth Provan, director of Dicky Beach Real Estate, was found guilty of wrongfully converting trust money.
She was also found acting as an unlicensed property agent by Caloundra Magistrates Court.
<p data-reactid="384" data-gtm-vis-first-on-screen-6236702_632="1944" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-recent-on-screen-6236702_632="4804" data-gtm-vis-has-fired-6236702_632="1">The charges were brought by the Office of Fair Trading (OFT).
<p data-reactid="384" data-gtm-vis-first-on-screen-6236702_632="1944" data-gtm-vis-total-visible-time-6236702_632="4000" data-gtm-vis-recent-on-screen-6236702_632="4804" data-gtm-vis-has-fired-6236702_632="1">Its investigation was launched in August 2017 following consumer complaints.
The OFT claimed between January and July last year, Ms Provan converted more than $46,000 of rent money to personal use funds.
She told tenants to deposit their rent into her own personal bank account instead of the agency's trust.
The sentencing considered Ms Provan’s breach of trust, lack of remorse, and failure to cooperate with the OFT investigation. 
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Dicky Beach estate agent banned for a decade

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The Bellevue Hill home of UniLodge founder Jane Hewitt and husband, Mariner Securities director Gary Symons, has been listed with $15 million hopes.
They paid $11.71 million for the six bedroom Drumalbyn Road home in 2013 when buying from APN News and Media chairman Peter Cosgrove.
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-128298906" target="_blank">The contemporary home</a> with Mediterranean overtones sits on 1415 square metres with harbour and district views.
Atrium style doors open from the living area to a heated Peter Glass swimming pool.
The Agency's Ben Collier has a June 2 auction.
Hewitt sits on the board at the Beacon Foundation.
She founded UniLodge in 1996, a pioneer and leading provider of student accommodation in Australia and New Zealand.
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UniLodge founder lists Bellevue Hill home

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A Templestowe Lower three bedroom apartment has been sold for $480,500 by mortgagees.
The north-west Melbourne house was sold by Tehran Mashayekh and Danial Reza Ali from Ray White on May 5.
<a href="https://www.realestate.com.au/sold/property-apartment-vic-templestowe+lower-127993002" target="_blank">The 7/231 High Street apartment</a> comes with three bedrooms, modern living, and private balcony.
It also features double-glazed windows, reverse-cycle heating and cooling, and double car garage. 
The suburb’s median unit price sits on $850,000, according to CoreLogic.
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Templestowe Lower three bedroom apartment sold by mortgagee

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GUEST OBSERVATION
"What’s incredible when you look at those numbers is about 30% - it’s hard to tell often - about 30% of those homeless people have a job."
– Rebecca Huntley, social researcher and author, speaking on Q&amp;A, April 23, 2018
Inequality, class and social mobility in Australia were key issues discussed on a recent episode of Q&amp;A.
Social researcher and author Rebecca Huntley noted an uptick in the idea of “the undeserving poor” in Australia – particularly where homeless people are concerned.
Huntley noted the perception held by some that homeless Australians are simply “not working hard enough”.
Challenging that narrative, Huntley said “about 30% of those homeless people have a job”.
Is that right?
Checking the source
In response to The Conversation’s request for sources, Huntley provided data from the <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/2049.0" target="_blank">Census of Population and Housing: Estimating homelessness, 2016</a> report, published by the Australian Bureau of Statistics in March 2018.
Huntley also pointed to the article: “<a href="https://www.propertyobserver.com.au/https://www.thesaturdaypaper.com.au/news/politics/2018/04/21/the-rise-homelessness-and-hunger/15242328006116" target="_blank">The rise of homelessness and hunger</a>”, written by Mike Seccombe and published in The Saturday Paper, and the website of “<a href="http://www.nhc.edu.au/sessions/everybodys-home-a-national-housing-campaign/" target="_blank">Everybody’s Home – A National Housing Campaign</a>”.
Huntley added:
"The <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/PrimaryMainFeatures/2049.0?OpenDocument" target="_blank">definition of homelessness</a> in the Census is probably broader than community perceptions about homelessness – that is, that all homeless people are sleeping rough on the streets.
"People who are couch surfing or living in their car or living in overcrowded accommodation may well fit into this definition. They may also be working in the gig economy or getting work here and there (the double whammy of insecure work and insecure housing is quite terrible).
"What the Census 2016 data show is that there are people with post compulsory education, with various levels of work and hours worked across all categories of people living in insecure housing arrangements."
Verdict
Based on the best available data, Rebecca Huntley’s statement that “about 30% of … homeless people have a job” is correct.
According to Census 2016 data, about 30% of people who were recorded as being homeless on Census night (using the Australian Bureau of Statistics definition of homeless) were also recorded as being in the work force.
What does it mean to be ‘homeless’?
When we talk about “homelessness”, many of us would think about people “sleeping rough” on the street. This is arguably the most severe and literal form of homelessness. But the state of being homeless is more complex than that.
Under the Australian Bureau of Statistics (ABS) <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/2049.0Appendix12016?opendocument&amp;tabname=Notes&amp;prodno=2049.0&amp;issue=2016&amp;num=&amp;view=" target="_blank">definition</a>, a person can be considered homeless if their current living arrangement:
<ul>
<li>is in a dwelling that is inadequate</li>
<li>has no tenure, or if their initial tenure is short and not extendable, or</li>
<li>does not allow them to have control of, and access to space for social relations.</li>
</ul>
The ABS presents its estimates of homelessness using these groupings:
<ul>
<li>People living in improvised dwellings, tents or sleeping out</li>
<li>People in supported accommodation for the homeless</li>
<li>People staying temporarily with other households</li>
<li>People living in boarding houses</li>
<li>People in other temporary lodgings, and</li>
<li>People living in “severely” crowded dwellings.</li>
</ul>
On the night of the 2016 Census, <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/2049.0Explanatory%20Notes12016?OpenDocument" target="_blank">more than 116,000 people</a> were counted as being homeless. This includes both children and adults. The estimates of the employment rate include only those age 15 and over.
This may be a conservative count, because some groups of people may be underenumerated (under counted) in the Census.
For example, the ABS <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/2049.0Explanatory%20Notes12016?OpenDocument" target="_blank">notes</a> that Aboriginal and Torres Strait Islander peoples’ are “more likely to be both underenumerated and over represented in the homeless population”, and that:
"So called rough sleepers and people staying in supported accommodation for the homeless are also at risk of being underenumerated in the Census."
What constitutes ‘a job’?
In the Census data, people are counted as being employed if they are of working age (age 15 and over) and:
<ul>
<li>employed and working full-time</li>
<li>employed and working part-time, and/or</li>
<li>employed but away from work.</li>
</ul>
However, not all people age 15 and over who were experiencing homelessness were counted in the Census labour force statistics. For some people, no information was recorded.
Known employment rates for homeless people
If we calculate the known employment rate for homeless people (using the ABS definition of homelessness outlined above), we find that around 30% are employed, as Rebecca Huntley said on Q&amp;A.
But the employment rate among homeless people could be higher.
That’s because we don’t have employment information for all homeless people. In the Census statistics, there are large numbers of people for whom information on employment status is missing, or not stated.
Overall, we don’t have records of the employment status of about 18% of the total homeless population.
Also, many people experiencing homelessness could be in situations where they wouldn’t be expected to work. For example, full-time students or the elderly.
This makes 30% likely to be the lower bound.
If we assume that the employment rate of those with missing information is the same as those with recorded information, the employment rate would increase to 36%. If we also excluded full-time students and the elderly from these statistics, the rate would be even higher.
Employment rate for people ‘sleeping rough’
“Sleeping rough”, or sleeping on the street, is arguably the most severe form of homelessness.
People sleeping rough are the group with the highest proportion of missing information on labour force status. The known employment rate for people sleeping rough is 10%.
If about half of the people with missing information were employed, the rate would go up to 30%. My assumption for this group is that most of those people with missing information are not employed.
So for those sleeping rough, the employment rate is probably closer to 10-15%.
The employment rate for people in supported accommodation is also likely to be around 10-15%. These two groups are those usually considered when a more literal definition of homelessness is used.
But as outlined in this FactCheck, the state of being “homeless” is more complex and wide ranging than that.
‘Journeys Home’ survey
Another useful data set on homelessness and employment is the Melbourne Institute’s Journeys Home survey, of which I was the Deputy Director.
This longitudinal survey, which began in 2011 and concluded in 2014, included 1,682 people in Australia flagged by Centrelink as either “homeless” or “at-risk of homelessness”.
The survey also included a group of income support recipients who were not flagged as homeless, but who had characteristics similar to those who had been homeless.
The overall rate of employment among all respondents was 27%. Of those who were homeless, 19% were employed.
In our study, however, we did not include those in overcrowded accommodation as being homeless. (These people are identified as being homeless in the Census).
This highlights the importance of the definition of “homelessness” used when considering the characteristics of the homeless population.
It’s also important to remember that just because someone isn’t employed doesn’t mean they don’t want to be employed, or aren’t seeking employment. Being homeless is a significant barrier to gaining – and retaining – a job.
Blind review
I agree with the verdict of this FactCheck that the overall rate of employment among people experiencing or being at-risk of homelessness is in the vicinity of 30%.
I would add that findings from <a href="https://pursuit.unimelb.edu.au/articles/the-grim-cycle-of-homelessness-and-unemployment" target="_blank">my research</a> using the Journeys Home data reveal that homelessness is more strongly associated with difficulty in retaining employment than with finding employment. – Neha Swami
Rosanna Scutella, Senior Research Fellow, Social and Global Studies Centre, RMIT University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/factcheck-qanda-do-about-30-of-homeless-people-have-a-job-95514" target="_blank">original article</a>.
<a href="https://images.theconversation.com/files/162128/original/image-20170323-13486-72k52f.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/162128/original/image-20170323-13486-72k52f.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The Conversation FactCheck is accredited by the International Fact-Checking Network.
 
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Do 'about 30% of homeless people have a job'?

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GUEST OBSERVATION
Since the pioneering work of architecture professor Roger Ulrich, who found that patients with a view of a natural scene recovered more quickly from surgery, research has shown that exposure to the natural environment is associated with a wide range of health benefits.
We have focused our work on asthma, and our research, published today, shows that children who live in greener neighbourhoods are less likely to develop it.
Not all greenness was equally effective, however. If a child was exposed to a broader range of plants, they were even less likely to get asthma. Exposure to landscapes with low plant diversity, such as gorse and exotic conifers, on the other hand, were a risk factor for asthma. Thus, greenness is good, but more biodiverse greenness is even better.
How nature protects against asthma
One intriguing explanation is provided by the hygiene hypothesis, which proposes that for children’s immune systems to develop properly, they need to be exposed to a broad range of microbes in early life. Without this exposure, children may be more susceptible to immunological diseases, like allergies and asthma.
The hygiene hypothesis explains why children living on farms, where they are exposed to a wide range of animals, are less likely to develop asthma. However, it’s not only farm children who benefit from exposure to animals. Having a pet in the house can also help protect against asthma. Similarly, children with more siblings are less likely to be asthmatic.
Living around a more diverse range of plants may also increase a child’s exposure to microbes. In fact, past studies have shown that people who live in more biodiverse areas have more diverse skin bacteria. Exposure to the natural environment may, therefore, improve our health by increasing the diversity of microbes living on our skin and in our gut.
This, in turn, may promote a healthy immune response and reduce the risk of allergies and asthma. Reduced stress and increased physical activity, associated with living close to green space, may be another reason for the observed protective effects.
Tracking children’s environment
This study used the Integrated Data Infrastructure (IDI), which is a large database of individual-level data maintained by Stats New Zealand. Currently, it contains 166 billion pieces of information on education, benefits, tax, families and households, health, justice and migration.
Using these data, we were able to track where children lived from birth until age 18, calculate the greenness of their neighbourhoods using satellite imagery and land-use data, and link to health records throughout each child’s life. This was all done anonymously, in a secure data lab, to safeguard the children’s privacy.
This study is an unusual collaboration between economists at the US Forest Service and epidemiologists in New Zealand. It contributes to our understanding of why asthma is on the rise.
Our results may lead to some innovative strategies to combat asthma, although there is a need to elucidate the underlying immunological mechanisms.
Improved prevention and treatment options for asthma are urgently needed as the burden of asthma is considerable, with 334 million people affected worldwide. Asthma prevalence in English-speaking countries such as New Zealand, Australia, the US and the UK is particularly high, with approximately one in six people suffering from it.
Good for people, good for the planet
Showing a link between biodiversity and human health may also change how we manage natural resources, especially in cities. Unfortunately, biodiversity is declining around the world due to population growth, climate change and intensive agricultural practices. Our work suggests that this is not just an ecological problem, but may also present a significant threat to public health.
<img src="https://counter.theconversation.com/content/96190/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Other studies have suggested that the exposure to the natural environment also protects against low birth weight, heart disease, mental health disorders and breast cancer, although results have not always been consistent. Therefore, as the diversity of our natural environment and resultant microbial exposure declines, we may see further increases in diseases, such as childhood allergies and asthma.
Jeroen Douwes, Professor of Public Health; Director, Centre for Public Health Research, Massey University
Geoffrey H. Donovan, Economist, United States Forest Service
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/children-living-in-green-neighbourhoods-are-less-likely-to-develop-asthma-96190" target="_blank">original article</a>.
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Children living in green neighbourhoods are less likely to develop asthma

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GUEST OBSERVATION
Australian governments are set to spend more on transport infrastructure than ever before. Federal and state infrastructure spending, driven largely by transport projects, was expected to total $31.6 billion in 2018, increasing to $38 billion in 2021, even before the latest Commonwealth spending announcements. Will all this construction make it easier for us to get around, our journeys more enjoyable, or our cities more liveable for a growing population?
Since the 1950s, spending on transport infrastructure has largely been justified on the basis of its ability to increase travel speeds or reduce travel times. For example, the New South Wales government estimates its $17 billion WestConnex toll road will deliver travel time savings motorists would value at about $13 billion. But new tolls will largely cancel out any benefit. This means the ultimate beneficiary will be the toll road corporations.
As early as the 1960s, however, it become evident that prioritising speed above all else is counterproductive. It’s making our cities less efficient and liveable, and consigns many people to stressful and unhealthy daily commutes.
Faster travel does allow people to move further from work and other destinations – and not have to spend any more time travelling. It’s also true that many households value the ability to move to outer suburbs, where lower land values mean they can afford a home (or a larger one).
But when thousands of households migrate to low-density suburbs, we end up with urban sprawl. This is bad not only for productivity and public health, but also makes public transport less viable. Sprawl entrenches dependence on cars. This limits access to economic and social opportunities for those unable to drive.
High vehicle speeds and longer driving distances create multiple other problems. These include more traffic noise, more road trauma, higher transport costs and neighbourhoods too dangerous for children to venture outdoors on their own.
Rethinking the need for speed
The need for speed is being questioned in other aspects of modern life. The Slow Food Movement urges us to savour and enjoy our meal times, rather than view eating as an unwelcome interruption to our busy days.
For my PhD research, I asked a similar question of our travel time. What if it’s seen not only as a cost to be minimised, but as valuable time that can be used to work, exercise or relax?
It’s important to note that average daily travel times don’t decline no matter how much is spent on transport infrastructure. How then can investment be prioritised to make our travel time more enjoyable and productive, while at the same time improving access to economic and social opportunities?
Choosing to take the ‘slow road’
I had observed that many people willingly choose a slower, more pleasant journey over a faster, less pleasant one. For example, research shows that, after a new cycleway opened in Sydney in 2014, some people switched to cycling from driving and public transport, even though this meant their journeys could take longer. Some people who already cycled opted for a longer route via the cycleway.
Based on such observations, I developed a cost-benefit analysis tool that captures the value people place on having the option to cycle to local destinations and transport interchanges in a traffic-free environment – regardless of whether their travel time changes.
Using this tool to assess the City of Sydney’s proposed 200-kilometre cycling network, I forecast it would increase the proportion of local residents (aged 18-55) commuting by bicycle from 4.5% to 10.7% – freeing up significant space on roads and public transport. The estimated benefit-cost ratio was 3.4. That’s better than many of the multibillion-dollar transport projects on the national Infrastructure Priority List.
Unfortunately, it’s not yet possible to validate these forecasts. Since 2013, the NSW government has done little to promote healthy transport. It has allowed the City of Sydney to build only about five kilometres of new cycleway, demolished one of the busiest cycleways in the CBD to create space for more traffic, and increased fines for trivial cycling offences. It’s not surprising the proportion of people cycling has hardly changed.
What do we want of our cities?
The next step will be to adapt the tool for assessing other transport and land use initiatives that could improve the usefulness and enjoyment of travel time – and access to economic and social opportunities – without necessarily increasing speed. Possible examples include:
<ul>
<li>extra train services to reduce crowding</li>
<li>automated vehicles, which could allow passengers to work while travelling</li>
<li>jobs growth in suburban centres, as in the Greater Sydney Commission’s Metropolis of Three Cities plan</li>
<li>ambitious affordable housing policies, enabling more low-income households to live closer to work.</li>
</ul>
Of course, cost-benefit analysis is just one (far from perfect) tool for informing decisions on transport and land use proposals. Before these proposals are developed, perhaps we need to give more thought to what kind of city we want to live in.
Do we want a city that’s easy and pleasant to get around, with inviting public spaces? Or one where we have to endure stressful and expensive journeys to get anywhere, and the public realm is devoted to traffic, not people?
Christopher Standen, Transport Research Analyst, 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/why-the-need-for-speed-transport-spending-priorities-leave-city-residents-worse-off-94166" target="_blank">original article</a>.
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Transport spending priorities leave city residents worse off: Christopher Standen

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GUEST OBSERVATION
The apparently inevitable rise of the electric car has prompted Australia’s top federal infrastructure advisor to warn of falling revenues from the petrol excise.
In a speech yesterday, Infrastructure Australia chief executive Philip Davies highlighted a need for “planning policy” for an “expected rapid uptake of electric vehicles”.
But the reality is that, unless federal policy changes, Australia is extremely unlikely to increase its very small share of electric vehicles. Far from worrying about alternative taxes, international examples suggest subsidies and incentives are required to shift a country towards low-emissions cars.
The Norwegian example
For a real example of “rapid uptake”, we can look to Norway. More than 50% of consumers chose to buy an electric vehicle in 2017, compared with 40% in 2016.
We know consumers are unwilling to buy electric vehicles if they cost substantially more than conventional vehicles. Norway imposes a high stamp duty on internal combustion vehicles, and exempts battery electric vehicles from both stamp duty and the high 25% Value Added Tax. Plug-in hybrid electric vehicles have a lower rate of stamp duty. Such financial incentives are high enough to offset the price differences between electric and combustion vehicles.
But financial incentives alone are not enough. Norway also provides total exemption from road tolls, free car ferry travel, free recharge sites, free parking, and access to bus lanes. In effect, consumers in Norway are better off for choosing a battery electric vehicle.
These incentives were crucial for removing the price barrier and influencing demand, raising Norway’s total of electric vehicles in 2017 to 123,200.
It is projected that by 2030, up to 4 million electric vehicles will be on the road in the Nordic states. Norway and Sweden will account for 80% of the growth by 2030.
If Australia wants to achieve its estimated 230,000 electric vehicles by 2025 (and more than a million by 2030) it’s clear we need additional federal policy measures.
Australians want electric – at the right price
According to Australian surveys, half of consumers are prepared to buy an electric car, but are concerned about price, range, and infrastructure. Although state and territory governments are supporting infrastructure and introducing policies to reduce stamp duty and registration for zero- and low-emitting vehicles, more is needed.
Federal government policy has not addressed the major barrier to sales: the high price sticker of electric vehicles relative to equivalent combustion vehicles, and the long time it takes for petrol savings to “pay back” the price difference.
For example, the hybrid Mitsubishi Outlander, which emits just 41 grams of carbon dioxide per kilometre, is listed in the manufacturer price guide at A$55,490. The petrol-fuelled model, which emits 211g of CO₂ per km, costs A$41,000. How many people will pay an extra A$14,490 for a low-emission car, with a nearly identical alternative available?
This is particularly important for low-end battery electric vehicles and PHEV with the longest driving range, as incentives seem to be less important for users of high-end battery electric cars like the Tesla Model S.
Without significant reductions in purchase price – through policy reform of taxes like the luxury car tax, and other incentives – it’s highly unlikely there will actually be a “rapid uptake” of electric vehicles in Australia. Low consumer demand will discourage car manufacturers form increasing the supply of electric or hybrid options in Australia, creating a vicious cycle.
The Australian Institute’s Emission Audit for December 2017, found that over the past two years emissions from road transport fuels has grown at twice the rate of GDP. This is actually offsetting any falling electricity generation emissions.
<img src="https://counter.theconversation.com/content/96104/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">To put it bluntly, if Australia doesn’t get on board the global transition to low-emission vehicles, we risk not meeting our 2015 Paris Agreement commitment to reduce emissions by 26-28% below 2005 levels by 2030.
Anna Mortimore, Lecturer, Griffith Business School, Griffith University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/australians-will-not-buy-electric-cars-without-better-incentives-96104" target="_blank">original article</a>.
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Australians will not buy electric cars without better incentives: Anna Mortimore

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Frasers Property Australia, Sekisui House Australia and Impact Investment Group have secured the University of Technology Sydney (UTS) as a new commercial tenant at Central Park, Sydney.
UTS will occupy the commercial space in One Hundred Broadway, on the corner of Abercrombie Street and Broadway in the $2 billion Central Park master planned community in Chippendale.
UTS’s Graduate School of Health (GSH) intends to relocate to One Hundred Broadway, from where it will provide postgraduate courses in the disciplines of pharmacy, clinical psychology, orthoptics and physiotherapy, along with new programs such as genetic counselling, Indigenous health and speech pathology, as they are developed.
The School also plans to operate a multidisciplinary primary health care clinic at Central Park that supports its teaching and research in these disciplines but which will also be of benefit to the community.
UTS will lease the entire commercial space of approximately 5,500 square metres over a 15-year term with two ten-year options. The commercial space, known as One Hundred Broadway, spans six levels.
Central Park’s Project Director, Mick Caddey, said the UTS Graduate School of Health was an excellent tenant for the commercial space at One Hundred Broadway.
The Graduate School of Health has about 500 senior, postgraduate students.
Up to 300 students will attend the Central Park premises during semester in addition to 80 full-time researchers and clinical staff, along with patients and clinical research participants.
UTS Deputy Vice-Chancellor (Resources), Patrick Woods, said a number of compelling factors including it being ideally located in relation to its growing city campus.
Postgraduate students, researchers and staff in turn will benefit from proximity to the amenities at Central Park, including the five-level Central Park Mall, which features over 50 specialty retailers, a Palace Cinema (opened late 2017) and Woolworths, two childcare centres, the Kensington Street dining and lifestyle precinct, and the precinct’s public park, Chippendale Green.
Currently under construction, the DUO development, which includes One Hundred Broadway, is due for completion in late 2018. The Graduate School of Health expects to begin operating there in mid- 2019.
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UTS sign Central Park, Chippendale tenancy 

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.

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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."

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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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[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

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

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

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

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

Staff reporter

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