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A three bedroom house in Hamilton Hill, a suburb in Southwest Perth, has been sold for $273,000 by mortgagees.
It was sold by Roger Golos from Professionals Property Plus Canning Vale/Thornlie.
Positioned on a 316sqm block, the <a href="https://www.realestate.com.au/sold/property-house-wa-hamilton+hill-127256382" target="_blank">4 Bellier Place</a> house comes with three bedrooms, good sized living area, separate dining adjacent, and covered outdoor area.
The 1970s Western Australia home was last traded for $365,000 in 2015. 
The suburb's median house price sits on $470,000, according to CoreLogic. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/26/hamilton%20hill%201.jpg" alt="">
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Loss as Southwest Perth three bedroom house sold for $273,000 by mortgagees

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A quarterly analysis produced by CoreLogic on auction market activity showed the combined capital city auction clearance rate of 64.6 per cent over the March 2018 quarter, was up slightly from 62.3 per cent over the December 2017 quarter.
All cities apart from Perth and Tasmania recorded an increase in auction clearance rates over the quarter; Perth rates dropped -5 per cent and Tasmania by -6.4 percent.
In contrast, Sydney recorded the largest increase, up from 57.7 per cent to 63.6 per cent while Melbourne recorded the highest clearance rate at 68.4 per cent, up from 68.1 per cent the previous quarter, followed by Canberra at 67.9 per cent.
Although the combined capital city clearance rate increased over the March quarter, a comparison to March 2017 showed that the clearance rate fell by 10.2 per cent, while at the same time, auction volumes have increased by 1,460 across the combined capital cities.
CoreLogic research analyst Cameron Kusher said the drop in auction volumes over the March quarter was expected given the auction market doesn’t usually pick up until early February.
“While clearance rates have increased relative to the December 2017 quarter, clearance rates are well down on a year ago. This reflects the much tighter lending conditions now in place and the fact that in the two most auction-centric markets (Sydney and Melbourne) dwelling values are now falling,” Mr Kusher said.
Although the week ending 25th March recorded the highest auction volumes on record with 3,990 homes taken to auction across the combined capital cities.
Melbourne was the busiest auction market with 9,488 homes taken to auction over the March quarter, followed by Sydney with 7,755 scheduled auctions.
Across the smaller auction markets, Brisbane was host to the highest volume of auctions over the quarter (1,247), followed by Adelaide (961) and Canberra (808).
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Highest clearance rate for the quarter by capital city suburbs:
Clearance rates are calculated when there has been at least 20 auction results reported over the period
Melbourne: Carrum Downs 95.2% (captured results: 21, scheduled auctions: 21, number sold: 20)
Adelaide: Prospect 70.0% (captured results: 20, scheduled auctions: 23, number sold: 14)
Sydney: Northbridge 90.5% (captured results: 21, scheduled auctions: 25, number sold: 19)
Canberra: Watson 81.8% (captured results: 22, scheduled auctions: 22, number sold: 18)
Brisbane: Coorparoo 55.0% (captured results: 20, scheduled auctions: 23, number sold: 11)
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Across the non-capital city markets monitored by CoreLogic, Wollongong was the only region to record a fall in the auction clearance rate over the March quarter, while the Hunter region saw the biggest increase in clearance rates when compared to the previous quarter.
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Geelong was the best performing region in terms of clearance rates, with 83.3 per cent of auctions recording a successful result, while the Gold Coast recorded the lowest clearance rate this quarter (40.6 per cent), despite being the busiest region in terms of auction volumes (770). Auction volumes fell across all regions except the Gold Coast, with Geelong host to 261 fewer auctions over the quarter, while Wollongong volumes fell by 196. The Hunter region saw 159 fewer auctions, while the Sunshine Coast was down 75 auctions.
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Auction market review highlights - Capital city auction clearance rate &amp; volume
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<li>Sydney 63.6% (7,755 auctions)</li>
<li>Melbourne 68.4 % (9,488 auctions)</li>
<li>Brisbane 49% (1,247 auctions)</li>
<li>Adelaide 65.7% (961 auctions)</li>
<li>Perth 34.7% (374 auctions)</li>
<li>Tasmania 51% (68 auctions)</li>
<li>Canberra 67.9% (808 auctions)</li>
<li>Combined capitals  64.6 (20,701 auctions)</li>
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Highest number of auctions for the quarter across capital city suburbs:
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<li>Melbourne: Reservoir 149</li>
<li>Sydney: Randwick 128</li>
<li>Brisbane: Sunnybank Hills 28</li>
<li>Canberra: Watson &amp; Curtin 22</li>
<li>Adelaide: Prospect 23</li>
<li>Perth: Gosnell 16</li>
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Based on total auctions held across the suburb over the reporting period
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Mr Kusher noted weaker auction clearance rates are "anticipated to persist, particularly in Sydney andMelbourne," due to tighter lending policies and falling dwelling values.
"Regional markets are holding up somewhat better but we would still expect some of the recent strength to abate, particularly in the Hunter and Wollongong regions.”
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Sydney's March quarter auction showed biggest jump from late 2017 lethargy: CoreLogic 

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<div>Melbourne auctioneer and agent, Aaron McDonald has been welcomed back to Ray White. </div>
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<div>Mr McDonald had been running his own business, before joining a local agency where he was awarded the number 1 sales agent from 2014-2017 across Melbourne's eastern suburbs. </div>
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<div>Ray White Group chairman Brian White welcomed Mr McDonald back home. </div>
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<div>“It’s always a great compliment when agents of Aaron’s calibre come back to our group. If you want to go fast, go alone but if you want to go far, go together," Mr White said. </div>
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<div>McDonald was selling homes in Whitehorse, in particular the suburb of Blackburn.</div>
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<div>Domain indicated Aaron McDonald from McGrath Blackburn had sold 11 properties in the last 12 months , with an average sale price of $1.2 million and total sales valued at $13.3 million. Aaron worked with Grant Lynch, Ian van Eijk and Rachel Lau on three of these sales.
Aaron sold 9 houses and 2 apartments with 1 sales by private treaty and 10 by auction, and these properties were on the market for an average of 25 days.
Aaron's highest recorded sale price was $2.3 million for 11 Jeffery Street, Blackburn, a 5-bedroom house which sold by auction last October.
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Melbourne agent Aaron McDonald returns to Ray White

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Over the March 2018 quarter, Melbourne clearance rates fell across six of the nine sub-regions when compared to the previous quarter, while auction activity was lower over the same period.
Clearance rates ranged from 73.5 per cent across the North West, to 60.4 per cent across the inner East, with the largest fall seen across the West, according to CoreLogic.
In terms of auction volumes, CoreLogic noted Melbourne’s Inner region was the busiest spot for auctions this quarter with 1,743 homes taken to auction, followed by the West (1,392) and Inner South (1,249) sub-regions.
Overall, Melbourne’s clearance rate has seen little change over the quarter, increasing by just 0.3 per cent, despite hosting 6,280 fewer auctions than December 2017, however year-on-year, auction activity has increased by 824 auctions, while the clearance rate has fallen 10 per cent.
<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/2018/4/18/melbourne%20auction%20.jpg" alt="">
 
A South Yarra two bedroom apartment sold at auction for $725,000 (pictured below) in February.
<a href="https://www.domain.com.au/real-estate-agent/mark-edwards-1362758/" data-reactid="391"></a>
<a href="https://www.realestate.com.au/sold/property-unit-vic-south+yarra-127471830" target="_blank">Situated at 4/110 Caroline St</a>, the apartment comprises two large bedrooms, designer kitchen, and central bathroom with laundry facilities. 
This property has security entrance and an entrance foyer plus carport on title.
It is close to the Yarra River, Botanical gardens and city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/south%20yarra.jpg" alt="" style="caret-color: #000000; color: #000000; font-family: -webkit-standard;">
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Melbourne March quarter auction success rate down in six of nine sub-regions: CoreLogic

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<h4><a href="https://theconversation.cmail20.com/t/r-l-jyzhtit-qitldhiii-yd/" target="_blank" rel="noopener noreferrer">Queensland's new land clearing bill will help turn the tide, despite its flaws</a></h4>
Anita J Cosgrove, The University of Queensland; April Reside, The University of Queensland; James Watson, The University of Queensland; Martine Maron, The University of Queensland 
Queensland's new draft land-clearing laws aim to put the brakes on years of environmental destruction. But the bill contains several loopholes that are likely to stymie progress.
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Queensland's new land clearing bill will help turn the tide, despite its flaws

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GUEST OBSERVATION
Even though Australia has enjoyed 25 years of economic growth, many regional communities have either struggled to recover or never recovered from factory closures, declining commodity prices, or a drop in tourists.
My research, with colleagues from Europe and North America, shows Australian development agencies are reluctant, or do not know how, to reach out and work with other government bodies. They are also less inclined than those in Italy, Germany and Finland to build bridges between government departments or tiers of government. Instead, their solutions are constrained by their own resources.
And unlike in the United States, Australia does not have a well-funded economic development agency able to mobilise significant resources in a practised manner. In the United States, local developers often command multi-million-dollar budgets that come from dedicated sales and other taxes, giving them the capacity to bring about change.
Australia’s local development agencies are starved of funding and too often can offer only limited responses to very complex challenges.
The Productivity Commission says leadership is key to forging a new economic future for these regional communities. But my research shows local leadership, including from business executives, state government and other government agencies, is relatively weak compared with the other countries.
The local leadership gap means Australian regional communities are less able to develop coherent strategies to deal with events like a major plant closure. Even good news, such as the arrival of a new firm, is not guaranteed an appropriate reaction.
Part of the challenge lies in the absence of clearly identifiable leaders with the authority to act. Compared with other countries in my study, it is harder to find who in Australia takes ownership of responding to regional economic shocks.
In Australia, mayors often play a role, but have few powers to bring about change. State policitians can be reluctant to associate with adverse news. Few politicians, for example, saw photo opportunities in the closure of Australian car makers.
In Italy, on the other hand, mayors are pivotal in responding to crises like the closure of a car factory. Our research found Italian mayors reach out to the civil sector in times of crisis – the church, non-governmental organisations, unions and even the media. This is done to influence public opinion, build confidence and mobilise private, public and community resources to ensure the well-being of the community.
Transition towns
The American city of Pittsburgh has transformed from a rapidly declining steel town in the 1970s to a prosperous city with an economy built on medical research and services.
Tampere in Finland shifted from being a 19th-century manufacturing base to producing software for Nokia in the 1990s. After 2010 it shifted again to information technology as Nokia itself transformed. The city has also become a hotbed of tech startups.
There are a few reasons these two communities successfully rejuvenated themselves while many Australian communities have spiralled downwards.
In the United States, local development practitioners are important local leaders because they mobilise the support of political leaders at the state and local level. They also provide the intellectual and financial capital needed to shape a new future.
In Finland, local leadership comes from a network of professionals working across departmental lines. In Tampere, for example, they helped to deploy the technical skills of workers. In other places they have moved workers into new technologies and promising new businesses.
Within a few years Chinchilla in Queensland cycled between a gas exploration and development boom, which pushed up prices, to an equally sharp bust as construction crews moved away, leaving excess housing.
Communities in northern Adelaide have been confronted by the need to map out a new future as the car industry closes. What that looks like and how many workers will be able to transition into the defence sector remains very uncertain.
These are not problems limited to a few isolated economies. The southeastern states struggled economically when the nation was in the grip of a mining boom. Communities in Western Australia joined them as real estate prices and labour force growth lagged in the absence of new mine development.
There are significant leadership deficits within Australia’s regions, towns and communities. These contribute to our failure to promote the vibrancy and resilience of all parts of the nation.
The decision-makers in Australia – largely state and federal politicians – as well as the resources they command, are just too far away from regional centres. Their absence creates a significant gap at the local level.
But all this doesn’t mean that better solutions can’t be found for Australian communities experiencing economic change.
<img src="https://counter.theconversation.com/content/95066/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">We can give more responsibility to local governments. We can empower communities through the sharing of information and knowledge. And we should give them the resources needed to bring about the changes they see as the bedrock of their future.
Andrew Beer, Dean, Research and Innovation, University of South Australia
This article was originally published on <a href="http://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/australian-governments-dont-work-with-each-other-and-its-holding-back-regional-economies-in-trouble-95066">original article</a>.
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Australian governments don't work with each other and it's holding back regional economies in trouble: Andrew Beer

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Positioned 350 mETRE from the banks of the Brisbane River in Hawthorne, a three storey house has been listed for sale.
It was listed by Emil Juresic and Kelly Tickle from NGU Realestate-Toowong.
<a href="https://www.realestate.com.au/property-house-qld-hawthorne-126959746" target="_blank">Located at 91 Elliott Street</a>, the 508 square metre residence features successful design including floor-to-ceiling doors and windows, a floating staircase, bespoke lighting and a smooth outdoor/indoor connection.
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The central space consists of entertaining areas, fireplace and well-equipped kitchen.
The upper levels come with five bedrooms, formal lounge/media room, second lounge/teenager's room, and large study.
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The outdoor entertaining areas feature the lap pool, spa. landscape garden and custom-built pavilion.
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It is close to Hawthorne Ferry Terminal, Hawthorne Park and schools.
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Hawthorne three level contemporary house listed for sale 

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GUEST OBSERVATION
Australian taxpayers won’t face a rise in taxes now that Treasurer Scott Morrison announced the government will not increase the Medicare Levy by 0.5% as planned. This was to originally fully fund the National Disability Insurance Scheme (NDIS).
This is on the back of strong company tax receipts stemming from companies using up carry-forward losses accumulated in the wake of the financial crisis.
Australian Bureau of Statistics data for 2016/17, released this week, showed tax revenue for the federal government (including taxes received from other levels of government and public corporations) increased A$19.4 billion (5.2%).
The averted tax rise will be welcome news for Australian taxpayers. It also wedges the Labor opposition.
They have said that the NDIS was fully funded on their watch. So now they are proposing a 0.5% tax rise on all incomes over A$87,000. That’s pretty close to full-time male average weekly earnings and comes close to capturing half of Australian households.
The federal budget on May 8 will no doubt have further goodies for voters in the run-up to the net election, which will be either this year or relatively early next year. As usual, we will be reporting directly from the budget lockup.
One of the central economic puzzles of the last several years has been persistently low inflation in all advanced economies, despite general economic recovery and falling unemployment.
This week’s Australian consumer price inflation figures revealed a 0.4% increase for the March quarter, and 1.9% for the last 12 months. The March quarter figure was below market expectations of 0.5%, and also the previous (December quarter) figure of 0.6%. Education prices were up 2.6% on the quarter, and health prices up 2.2% (or 4.2% for the year to March 2018).
This puts inflation still below the Reserve Bank of Australia’s (RBA) target band of 2-3%. That band, of course, has been in place since the early 1990s – beginning with this speech by then governor Bernie Fraser.
Numerous central banks around the world have a similar approach. The basic idea is that a central bank can build a reputation over time to commit to monetary policy such that inflation lies in the band.
Now there are pros and cons to this approach to monetary policy, and it has its critics. But that is another tale for another day.
Just assuming that inflation targeting is the correct objective, how is the RBA doing? Well, one small hitch in the plan is that inflation has been outside the band for a long time now (basically since 2014), as the RBA’s own figures show.
Given the level of unemployment in Australia, low wages growth, and stubbornly low inflation, the RBA probably should have cut rates further a fair while back. But they seem, probably rightly, terrified of further fuelling a potential housing bubble.
Meanwhile, the credibility of their commitment to the inflation target withers. If only the regulation of our banking and finance sector had been better for the last, say, decade or two.
Speaking of such regulation, RBA assistant governor Chris Kent gave a speech Tuesday about the important issue of interest-only loans. Kent’s speech was significant because it followed up on remarks in the RBA minutes about the same issue that I discussed in this column last week.
It seems that the RBA “house view” on interest only loans is as follows. There could be a problem but the Australian Prudential Regulation Authority (APRA) stepped in and the banks have voluntarily tightened lending standards recently. Also because the average household with an interest only loan has a buffer of savings, everything will be fine. Nothing to see here.
I hope the RBA’s conclusion is right, but I know for sure that the reasoning is not. It’s actually the marginal household’s financial position and behaviour that matters, not the average household.
The average United States borrower with an adjustable-rate mortgage did not default in 2007, 2008 or 2009. But these mortgages were a huge contributor to the financial crisis, along with subprime mortgages.
Kent dutifully laid out the risks from interest only loans, saying:
"Because there’s no need to pay down principal initially, the required payments are lower during the interest-only period. But when that ends, there is a significant step-up in required payments (unless the interest-only loans are rolled over)."
Indeed, unless they can be rolled over. Which they can’t now because of APRA and the banks finally doing something.
Now, prices (interest rates) on interest only loans have gone up as part of the bank response. This has led a bunch of folks to shift to amortising loans, where the principal of the loan is paid down over the life of the loan. So those borrowers who haven’t shifted to these loans already, really don’t want to.
Maybe they can’t afford to because of the increased repayments, that can jump 30% or more per month.
So what does happen? First Kent says many borrowers save ahead of time, expecting a rise in repayments. Yes, the prudent ones.
But how many non-prudent borrowers have there been in the Australian property market in recent years? Hint: a lot.
Kent also points to borrowers who seek to refinance their interest only loan. But banks don’t really want to, and APRA doesn’t want to let them. And who is going to be able to? The safer borrowers who did save and so don’t really need to avoid amortisation. The risky borrowers can’t refinance.
Kent says some borrowers will have to cut their spending. Chuckle, chuckle. And the final option is to sell their house.
Sure, no problem, unless lots of folks want to do that all at once. Then it’s a fire sale that detonates the housing market.
I really do hope we escape the interest only debacle unscathed. But if we do it will be pure, dumb luck, not a consequence of good design or sound regulation.
It definitely doesn’t justify the RBA’s house view in Kent’s concluding remarks that: 
"The substantial transition away from interest-only loans over the past year has been relatively smooth overall, and is likely to remain so. Nevertheless, it is something that we will continue to monitor closely."
<img src="https://counter.theconversation.com/content/95518/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Perhaps a there should have been a little more monitoring before interest only loans got to be 40% of all loans and more than half of the loan book of one of our biggest banks.
Richard Holden, Professor of Economics and PLuS Alliance Fellow, UNSW
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-interest-only-loans-are-an-economic-debacle-that-could-bust-the-property-market-95518" target="_blank">original article</a>.
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Interest only loans are an economic debacle that could bust the property market: Richard Holden

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New data confirms two-thirds of investors who negatively geared property were on taxable incomes of less than $80,000 a year.
The latest tax office data suggests Labor’s policy to amend the widely used property purchasing practice would mostly hit more lower-income earners with only one investment property, according to Treasury analysis of the 2015-16 tax records published in The Australian.
The statistics also included figures on the number and occupations of people affected by Labor’s $20bn plan to scrap negative gearing after the next election on any new purchases of established properties, showing 62 per cent were on taxable incomes of under $80,000 a year.
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The opposition has argued that the move would target the wealthy with multiple investment properties.
However, the data shows that more than 70 per cent of negative gearers did so with only one property.
The Tax Stats are an overview of 16 million income tax returns for 13.5 million individuals, 940,000 companies, as well as superannuation funds, partnerships and trusts lodged for 2016.  
They further reveal that teachers rank behind only company chief executives and senior managers as the largest group of property investors to negatively gear, with 58,000 claiming rental losses on their tax returns.
While 72,000 investors were listed as company executives, 99,000 people claiming rental losses on their tax returns were either teachers, nurses or midwives.
Labor has long rejected claims that lower income earners would be hit by scrapping negative gearing.
It maintains 70 per cent of the value of benefits went to the wealthiest 10 per cent citing analysis by the Grattan Institute.
In the ATO data, out of the professions, surgeons had the highest average taxable income of $393,467, followed by anaesthetists on $359,056, internal medicine specialists on $291,140, financial dealers on $263,309 and psychiatrists on $211,024.
Other medical practitioners came in sixth on $199,590, followed by judicial and other legal professionals on $198,219, mining engineers on $166,557, chief executives and managing directors on $158,249 and engineering managers on $148,852.
According to the ATO, out of nearly 1200 occupations recorded, there were fewer than 100 where women had a higher average taxable income than men — they included receptionists, schoolteachers and beauticians.
"Reports in The Australian on ATO data showing that almost two thirds of investors are on an average income of less than $80,000... affirmed independent research undertaken for HIA by The CIE," said HIA’s principal economist, Tim Reardon.
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“Changes to negative gearing would adversely impact on the housing market, exacerbating the current undersupply of housing and further reduce the efficiency of the housing market.
“This reduction in house supply would also adversely impact on wage growth and GDP.
“Driving investors out of the market will force up the price of renting as nearly 25 per cent ofrental stock is provided by private investors," he noted.
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Teachers at the forefront of Australia's negative gearers: ATO data

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Interior designer Meryl Hare and husband John have sold their long-held Seaforth waterfront.
They had to wait over a year to find a buyer.
The couple have been based at the <a href="https://www.realestate.com.au/sold/property-house-nsw-seaforth-127544514" target="_blank">Abernethy Street address</a> since 1991 when they paid $670,000.
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Its last advertised price guidance was just over $4 million.
Set on 930 sqm, the home has five bedrooms, a media room, wine cellar and an infinity pool and space beside a paved poolside alfresco space.
McGrath Mosman agent Michael Coombs sold the home for around $4.5 million.
Hare started Hare + Klein in Sydney in 1988. She was inducted into the Design Institute of Australia hall of fame in 2011.
This article was first published in the Saturday Daily Telegraph.
 
 
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Interior design veteran Meryl Hare sells at Seaforth

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

Joel Robinson

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

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