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An overseas buyer has paid $9.2 million for a four bedroom house in Toorak, at 12 Kenley Court setting the per-square-metre price at a record high.
The Foreign Investment Review Board reportedly approved the purchase by a Chinese national.
It was at a rate of $12,169 a square metre, eclipsing the record of $11,600 set in March by a three-bedroom house at 66 Clendon Road.
The cul de sac holding is 756 square metres. 
It was listed by Abercromby's agent Ada Taylor and Hugh Hardy.
Last month there was a Toorak offering by the longtime Australian golf promoter Tony Roosenburg. 
The <a href="https://www.realestate.com.au/property-house-vic-toorak-128040366" target="_blank">knockdown 1970s Sargood Street home</a> on 430 sq m came with plans by architect Rob Mills (below).
But the 5 Sargood Street offering was passed in at $4,010,000, with just the one bidder.
Kay &amp; Burton agents Michael Gleeson and Nicole Gibson had a $4 million to $4.3 million price guidance.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/30/sargood2.jpg" alt="">
Keener bidding could have seen the recent $11,000 per sqm land value record neared or bettered. 
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j.ballantyne1990-6AQqhLzZaK

Toorak's residential price per square metre hits new high

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A two bedroom top floor Doncaster apartment has been recently sold by mortgagees for $485,000.
It was offered by Thi Nguyen and Matthew Dunn from Jellis Craig Doncaster.
<a href="https://www.realestate.com.au/sold/property-apartment-vic-doncaster-127547302" target="_blank">The 806/1 Grosvenor Street</a> home features two bedrooms with BIR's, secure car space and heated outdoor pool, BBQ and entertaining area. 
The apartment is in the Pearl building designed by architect Rothe Lowman and landscaped by Land Design Partnership.
Its price guidance was between $490,000 to $539,000.
It last sold at $589,000 in 2014. It has been a rental at around $450 a week.
<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/2018/5/10/8061%20grovenor%20doncaster.jpg" alt="">
It positioned across the road from exclusive shopping, restaurants, gym, entertainment and buses with the freeway, schools and parks only minutes away.
The suburb's median unit price sits on $579,000, according to CoreLogic. 
 
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Loss taken at Pearl, Doncaster two bedroom penthouse mortgagee sale

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The Commonwealth Bank has revealed an increase in borrowers behind in their mortgage repayments.
The number of home loan borrowers more than 90 days overdue on their loan was sat at 0.65 per cent, up from 0.59 per cent at the end of December. 
There were emerging "troublesome exposures" mentioned in its stockmarket update on Wednesday morning.
However CBA said the credit quality of the group's lending portfolios remained sound. 
The bank noted "there has been an uptick in home loan arrears, influenced by a small number of customers experiencing difficulties with rising essential costs and limited income growth".
CBA said "consumer arrears were seasonally higher in the quarter".
Customers more than 90 days due on their personal loans rose from 1.21 per cent at the end of December to 1.39 per cent at the end of March, while credit card arrears also rose slightly, from 0.88 per cent to 0.98 per cent.
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<div id="article-inline-ad">It also said a small number of loans had resulted in an increase "troublesome exposures", while impaired assets remained stable.</div>
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Overall, bad debts remain very low.
The Australian Financial review advised the loan impairment expense of $261 million in the quarter was 14 basis points of gross loans and acceptances, down from 16 basis points in the first half. CBA said it maintained "prudent" levels of credit provisioning with total provisions at $3.8 billion.
Westpac recently indicated at the end of 2017 its arrears rate was 1.2 per cent, down slightly from 1.3 per cent at the end of 2016. Westpac arrears were below historical peaks of 1.7-to-1.9 per cent. In New South Wales market, Westpac mortgage arrears are the lowest nationally at just 0.8 per cent, below the state's long-term average of 1.4 per cent.
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Arrears jumps in CommBank loan book

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190 St Georges Terrace has retained one of its largest sub-lease tenants, with ATI Solutions signing onto a new direct lease on level five of the office tower.
The technology company previously subleased the 450sqm space following global design and delivery firm Stantec’s departure 2.5 years ago.
CBRE’s Lachlan Lewis negotiated the new three-year lease deal for a rental in the vicinity of $650 per square metre and market level incentive.
<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/2018/5/9/190StGeorgesTce_23.jpg" alt="">
“This was an excellent outcome for the building owners to have what was a large potential vacancy re-leased with nil downtime on rental cashflow,” Lewis said.
“ATI Solutions looked at competing buildings but the lessor’s commitment to deliver the turn key fit out solution and the financial outcome was compelling. 
"The major capital spent recently on the building lobby, glass entry and new end-of-trip were also key drawcards cementing ATI’s decision to stay at 190 St Georges Terrace.” 
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190 St Georges Terrace retains key tenant

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The federal government is offering homeowners over 65 the possibility of a small reverse mortgage.
While tapping the equity in their homes would be seen as a last resort measure, the scheme offers $11,799 per year initially for part-pensioners.
But under the extended scheme anyone over the retirement age can now access equity in their homes without selling, as part of a $258 million package aimed at helping older people to better plan for a "healthy, independent, connected and safe" life in retirement.
There is an interest rate of 5.25 per cent on the loans, considerably below the commercial rates on reverse mortgages which are currently between 6.3 per cent and 6.4 per cent.  
The Pension Loans Scheme was introduced in 1997. 
The measure, which was leaked before last night's Federal Budget, is set to cost $11 million over the next four years, according to the budget papers.
About 1.8 million age pensioners own their home in Australia, according to the budget papers, including 1.1 million full pensioners and 700,000 part-rate age pensioners.
The scheme will attract attention from the elderly with their wealth tied up in property while cash-poor.
Under the new plan, if a 66-year-old took up the proposed offer and lived until 91, he or she could receive a total of $295,000 worth of ongoing payments which would simultaneously be removed from their equity in their home.
Retirees on a full age pension as well as fully self-funded retirees will be able to use equity in their homes to increase the maximum fortnightly income stream to 150 per cent of the age pension, which is about $23,000 a year for individuals. 
Last year Domain noted there are only a few reverse mortgages on offer.
It advised Bankwest Seniors Equity Release Home Loan charges 6.27 per cent and up to the lesser of 25 per cent of the value or $250,000.
CBA's Equity Unlock for Seniors charges 6.37 per cent, and the maximum loan ranges from the lesser of 20 per cent of value or $275,000 for those aged 65 to 69, up to 40 per cent or $450,000 for those 85 and over.
Toowoomba-based Heritage Bank's Heartland Finance Reverse Mortgage Home Loan charges 6.19 per cent, and offers up to 35 per cent at age 80.
P&amp;N Bank, the W.A. bank once known as the Police &amp; Nurses credit union, charges 6.24 per cent and offers up to 35 per cent of the home's value.
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Reverse mortgage loan scheme for elderly extended in Federal Budget

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Overall the Budget will boost confidence in the building and construction industry, according to Denita Wawn, CEO of Master Builders Australia. 
“The Government’s infrastructure Budget will play a key role in setting the nation up for future prosperity.
The additional $24 billion investment in infrastructure across the country will boost the productivity and liveability of our cities,” she said. 
“Small businesses will benefit from the extension of the $20,000 immediate tax write-off scheme until 2019. There are more SMEs in buiding and construction than any other industry and this great news for mum and dad building business and tradies,” Denita Wawn said. 
“The uncorporated small business tax discount rate will increase from 5 per cent to 8 per cent allowing SME builders to write-off their assets faster,” Denita Wawn said.
But lower house prices could hit the residential construction boom harder than expected, according to the Federal Government's Treasury department.
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Dwelling investment is forecast to rise slightly by 1.5 per cent next year before slowing further and remaining "largely flat" in 2019-20, Treasury estimates.
Residential construction is easing after reaching a peak of near 6 per cent of gross domestic product in the financial year ended June 2017.
Approvals are likely to keep dwelling investment "elevated by historical standards", according to Treasury, especially in New South Wales and Victoria.
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Treasury also noted a "reasonable pipeline of work" in commercial buildings, especially for offices in Victoria and New South Wales.
The 2018 Budget had no measures that specifically address housing supply and affordability, according to the Real Estate Institute of Australia (REIA).
“Whereas housing affordability was a centre piece of the 2017 Budget there was nothing in this year’s Budget that directly addressed this,” REIA President Malcolm Gunning said.
“It was however pleasing to see that the Government recognises the important role that the current taxation arrangements for negative gearing and Capital Gains Tax play in increasing supply, keeping rents affordable and easing the burden on social housing by leaving these unchanged,” he said. 
Mr Gunning said the Budget’s approach recognises the state of the property market and the impact that APRA’s measures have had in cooling the marking particularly in Melbourne and Sydney and the Treasurer has seen no reason to make any further adjustments. 
“A boost to infrastructure spending, modest improvements in housing income for lower income earners, continued tax write offs for small to medium business and growth in employment can be expected to be mildly expansionary, particularly for regional economies.
“The good news for home buyers is that the Budget is not expected to put pressure on interest rates as inflation is expected to remain within the RBA’s target zone.
“This expected interest rate stability comes at a time when housing prices in some of our major cities are showing signs of easing leading to improved affordability for first home buyers,” Mr Gunning.
 
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Residential housing construction could moderate due to falling prices: Treasury

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Rozelle's Garry Owen Hotel has been sold by the South Coast bound Sloan family after nearly a year on the market.
The Sloan family were described as industry newcomers when they bought the property from the Laundy Group in 2013.
They have extensively renovated the property at <a href="https://raywhitehotels.com.au/properties/garry-owen-hotel/" target="_blank">778 Darling Street</a>.
It spans three levels on its 360 sqm parcel and has 10 gaming entitlements.
Only half of the first floor area is being utilised for trade.
Ray White's Andrew Joliffe and Blake Edwards were marketing the property as an entry level Sydney freehold hotel.
Despite having 1920 etched on the facade the building, the hotel was established in 1881.
One of the Hotel's claim to fame is that an inside toilet was installed in an old laundry in 1937 and "was the only pub in Rozelle with a chimney on the toilet".
 
 
 
 
 
 
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Rozelle's Garry Owen Hotel sells after nearly a year

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GUEST OBSERVATION
The carbon footprint of tourism is about four times larger than previously thought, according to a world-first study published today in Nature Climate Change.
Researchers from the University of Sydney, University of Queensland and National Cheng Kung University – including ourselves – worked together to assess the entire supply chain of tourism. This includes transportation, accommodation, food and beverages, souvenirs, clothing, cosmetics and other goods.
Put together, global tourism produces about 8% of global greenhouse gas emissions, much more than previous estimates.
Adding it all up
Tourism is a trillion-dollar industry, and is growing faster than international trade.
To determine the true emissions produced by tourism, we scanned over a billion supply chains of a range of commodities consumed by tourists. By combining a detailed international trade database with accounts tracking what goods and services tourists bought, we identified carbon flows between 160 countries from 2009 to 2013.
Our results show that tourism-related emissions increased by around 15% over that period, from 3.9 gigatonnes (Gt) of carbon-dioxide equivalent (CO₂-e) to 4.5Gt. This rise primarily came from tourist spending on transport, shopping and food.
<img src="https://images.theconversation.com/files/217900/original/file-20180507-166903-1irt6n0.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
World map showing bilateral embodied carbon movements. In 2013, international travel was responsible for 23% of the global carbon footprint of tourism. [The carbon footprint of global tourism] 
We estimate that our growing appetite for travel and a business-as-usual scenario would increase carbon emissions from global tourism to about 6.5Gt by 2025. This increase is largely driven by rising incomes, making tourism highly income-elastic and carbon-intensive.
Whose responsibility is it?
In the study, we compared two perspectives for allocating responsibility for these emissions: residence-based accounting and destination-based accounting. The former perspective allocates emissions to the country of residence of tourists, the latter to the country of destination. Put simply, are tourism-related carbon emissions the responsibility of travellers or tourist destinations?
If responsibility lies with the travellers, then we should identify the countries that send the most tourists out into the world, and find ways to reduce the carbon footprint of their travel.
On the other hand, destination-based accounting can offer insights into tourism spots (like popular islands) that would benefit most from technology improvements and regulations for reducing the carbon footprint of tourism.
Tracking emissions under destination-based accounting over a specific period could help researchers and policymakers to answer questions about the success of incentive schemes and regulations, and to assess the speed of decarbonisation of tourism-related sectors.
So how do countries rank under the two accounting perspectives? The United States is responsible for the majority of tourism-related emissions under both perspectives – many people travel both from and to the US – followed by China, Germany and India.
But on a per-capita basis, the situation looks rather different. Small island destinations have the highest per-capita destination-based footprints. Maldives tops the list – 95% of the island’s tourism-related emissions come from international visitors.
Tourists are responsible for 30-80% of the national emissions of island economies. These findings bring up the question of the impact of tourism on small island states.
Islands as tourist destinations
Small islands depend on income from tourists. At the same time, these very tourists threaten the native biodiversity of the islands.
Small island states typically do not have the capacity to embrace technology improvements due to their small economies of scale and isolated locations.
<img src="https://images.theconversation.com/files/217909/original/file-20180507-166903-2md88e.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Sustainable tourism on islands. Author provided
Can we lend a helping hand? Directing financial and technical support to these islands could potentially help with efforts to decarbonise their infrastructure. This support would be a reflection of the share of consumer responsibility, especially from developed nations that are “net travellers”.
Maldives, Mauritius and other small islands are actively exploring ways of building their renewable energy capacity to reduce the carbon intensity of local hotels, transport and recreational spots.
Creating awareness at multiple levels
We hope that our study provides a starting point for conversations between the public, companies and policymakers about sustainable tourism.
<img src="https://counter.theconversation.com/content/96200/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Ultimately real change will come from implementing regulations and incentives together to encourage low-carbon operations. At a personal level, though, it’s worth looking at the carbon-cost of your flights, choosing to offset your emissions where possible and supporting tourism companies that aim to operate sustainably.
Dr Arunima Malik, Lecturer in Sustainability, University of Sydney
Dr Ya-Yen Sun, Senior Lecturer, The University of Queensland
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/the-carbon-footprint-of-tourism-revealed-its-bigger-than-we-thought-96200" target="_blank">original article</a>.
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The carbon footprint of tourism revealed (it's bigger than we thought)

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Australian not for profit housing provider Community Housing Limited (CHL) has announced the integration of Horizon Housing, Queensland’s largest housing provider into the CHL Group of Companies.  
The integration will boost CHL’s current portfolio to over 11,000 properties, making it the largest community housing provider in the country.
The combined group will manage community and affordable housing properties across the six states with nearly 300 staff. 
The new arrangement will consolidate expertise and strengthen the reach and services offered by both community housing providers.
Horizon Housing, Queensland’s largest housing provider with operations in fifteen local government areas across Queensland and parts of New South Wales, provides both community housing programs and affordable housing projects and has over 2,400 properties in its portfolio.
“This new arrangement further strengthens the position of both organisations, providing each with mutually beneficial outcomes aligned to our shared vision of providing the communities we serve with affordable housing solutions that are available and accessible by those in need,” Community Housing Limited Group’s, Managing Director, Steve Bevington, said. 
Bevington said for 25 years, CHL haD been considered a sector leader, supporting and growing the industry both locally and internationally, providing end to end affordable housing developments and long term housing and tenancy management operations in Australia. 
“Horizon’s integration within the CHL Group is another step in that direction," he said.
THE CEO of Horizon Housing, Jason Cubit, said the integration of the two entities creates a powerful alliance to fight the problem recently highlighted by the latest Anglicare Rental Affordability Snapshot, which categorised three out of 67,365 rental properties listed in Australia as “affordable” for a single person on Newstart Allowance.
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Community housing group combines with Queensland provider

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Fund manager Clarence Property has purchased The Zone shopping centre at Underwood in south-east Brisbane.
Paying $31.25 million, The Zone was purchased at a 7.85% yield.
Its anchor retailers include OfficeWorks, Rebel Sport, Good Price Pharmacy and Best Friends Pet Warehouse.
It will be within Clarence Property's flagship unlisted Westlawn Property Trust which has more than $250 million in assets between Yamba and the Sunshine Coast.
Its target asset allocation is about 30 to 45% retail, especially high-yield neighbourhood shopping centres in growth regions.
It started in Grafton some two decades ago, expanding its strong presence in northern New South Wales into south-east Queensland.
The Zone is a sub-regional large format shopping centre 16 kilometres south of the Brisbane CBD.
It is made up of four buildings of about 11,000 square metres on a 2.85-hectare site on the corner of Compton and Kingston roads.
It opened in 2005.
CBRE's Joe Tynan, Peter Rossi, Michael Hedger and Nick Willis negotiated the sale of the property for a private Queensland investor.
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Clarence Property secure The Zone shopping centre at Brisbane's Underwood

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

Joel Robinson

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

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

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

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

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

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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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.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

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The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

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“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

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