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Knight Frank, the independent global property consultancy, launched its Global Residential Cities Index for Q4 2017, which finds Hobart has jumped to 11th place, up from 34th on the index.
It came after with 13.1% growth over the year to December 2017.
This is up from 11.3% growth in the 12 months to March 2017 according to the index which tracks the performance of mainstream residential prices across 150 cities worldwide.
Hobart sales have included Hanby Villa, a Georgian manor in the heart of Hobart, sold for $1.85 million last year (pictured below).
<a href="https://www.realestate.com.au/sold/property-house-tas-hobart-125958938" target="_blank">Located at 197 Macquarie Street</a>, the house comes with five bedrooms, light-filled living space, cosy library,  extensive modern kitchen and sun-drenched terraced garden.
It is conveniently located less than a kilometre from the CBD.
A Hobart two bedroom apartment with waterfront surroundings has been sold for $1.25 million (pictured below).
<a href="https://www.realestate.com.au/sold/property-apartment-tas-hobart-124402862" target="_blank">The 22/19 Hunter Street </a>(pictured below) apartment features two double bedrooms, open plan living/dining and kitchen areas across the front, and two bathrooms. 
Circa 1864, the building itself is one of the earliest built in old Hobart Town and has been sympathetically restored and refurbished.
It is adjacent to the historic Henry Jones Hotel and just a few minutes walk from cosmopolitan Salamanca Place with market, restaurants, bars and galleries.
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A brand new offering currently on the market is a Sandy Bay four bedroom house in excess of $1.4 million (pictured below).
<a href="https://www.realestate.com.au/property-house-tas-sandy+bay-128084906" target="_blank">Shrouded in topiary-featured private special garden spaces, the 481 Sandy Bay Road</a> home comes with four bedrooms, informal living zone, and glass-roofed outdoor/indoor entertainment area.
With the intimate water views from both floors, there is also proximity to the most excellent schools, speciality stores and services.
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Another Sandy Bay Italianate style unit has been listed for over $1.2 million.
<a href="https://www.realestate.com.au/property-unit-tas-sandy+bay-127979122" target="_blank">Surrounded by trees and landscaped gardens, the 3/31 Fitzroy Place</a> (pictured below) home comes with two bedrooms, formal dining and large living room with views, and well-equipped kitchen.
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The global index increased by 4.5% in the year to December 2017, down from 7% in the year to March 2017. 
Elsewhere Canberra’s residential market is now outperforming Sydney. Sydney is at 83rd place on the index with 3.8% price growth in the year to December 2017 – down from 23rd on the index in the year to March 2017, when the city saw 14.4% price growth. Canberra sits at 59th on the list with 5.7% growth in the year to December 2017.
Melbourne now sits at 21st on the list, with 10.2% price growth in the year to December 2017 – up from 24th on the index (when the city saw 13.4% price growth in the year to March 2017)
Adelaide is at 87th on the index with 3.6% price growth
Brisbane is at 100th place with 2.1% price growth
According to Knight Frank’s Head of Residential Research, Australia Michelle Ciesielski, six Australian cities have appeared in the top 100 of our global index in Q4 2017 – Hobart, Melbourne, Canberra, Sydney, Adelaide and Brisbane. 
“There is a clear differentiation in the pace of property growth around Australia, with Sydney and Melbourne seeing prices moving towards a more sustainable level of growth," Ciesielski.
“The influence by the Australian Prudential Regulatory Authority (APRA) on the lending environment has certainly been felt with many investors retracting from the market on the east coast. This risk-adverse environment is likely to remain for some time given the current banking royal commission.
“As of Q1 2017, Australia’s highest-ranking city was Sydney in 23rd position. However, Canberra’s mainstream residential price growth has now overtaken Sydney’s, with Canberra sitting in 59th position with 5.7% residential price growth (in comparison to Sydney now at 83rd place with 3.8% price growth)."
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According to Knight Frank’s Head of Residential, Australia Sarah Harding said with improvements to connectivity and infrastructure Australia is becoming closer to the rest of the world. As a result we are seeing more global citizens reside in Australia as well as expats returning home. 
“As the figures represent it is not only the major cities of Sydney and Melbourne who benefit, but the impact is now showing in cities such as Canberra and Hobart," Harding said.
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“With the recent direct flights from Perth into Europe, and plans for high-speed sub-orbital travel, this bodes well for Australia in the future and it is exciting to see cities such as Canberra, Hobart and Perth feature within this global index.”
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Berlin led the annual rankings for 2017 
US cities averaged 6.3% growth in 2017, despite four rate rises since December 2016.  
Kate Everett-Allen, Partner, International Residential Research at Knight Frank said, in 2016, the 15 Chinese cities tracked by the index averaged 23% growth year-on-year. In 2017, the same 15 cities averaged 1.6% growth.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/13/Hobart%204.png" target="_blank">to enlarge</a>.
<img src="https://www.urban.com.au/images/2018/4/13/Hobart%204.png" alt="">
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j.ballantyne1990-6AQqhLzZaK

Hobart jumps from 34th to 11th on Knight Frank global residential city rankings

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GUEST OBSERVATION
Loneliness is a hidden but serious problem in cities worldwide. Urban loneliness is connected to population mobility, declining community participation and a growth in single-occupant households. This threatens the viability of our cities because it damages the social networks they rely on.
One response to these trends involves “third places”. These are public or commercial spaces that provide informal opportunities for local people to mix socially on neutral ground.
The concept of third place, developed by Ray Oldenburg, is distinct from first and second places. A first place is the private space of home. Second places are where people spend significant time, often formally. These include schools, universities and workplaces.
Common examples of third places in cities include community gardens, libraries, public swimming pools, cafes, men’s sheds, farmers’ markets and dog parks.
Researchers at the Cities Research Institute are investigating whether these “third places” can reduce urban loneliness. Here, we report and discuss some insights from that work.
How can third places reduce loneliness?
There is growing understanding of the negative outcomes and costs associated with loneliness. These include fractured communities, declining trust, stress, depression and disease. Clearly this is neither desirable nor sustainable.
More than a century ago the sociologist George Simmel observed how mobility disrupts social connection and creates isolation. The urban migrant leaves behind their own social ties and often struggles to connect to their new community. This challenges both the migrant and their new neighbours.
Third places can help by creating or enhancing a sense of community on a smaller, more human scale – a relief from the overwhelming sensory experience of a large and unfamiliar city. The village-like feeling of third places can reduce people’s anxieties and make them more comfortable with trying a new social experience.
Third-place interactions encourage conversation in a homely atmosphere. Regulars who are local to the area often help with this.
In third places, people are free to come and go without obligation. The status and backgrounds of users are largely irrelevant. These places are generally designed to be accessible, accommodating and inviting for all ages, low-profile, comfortable and conversational.
Third places bring people together based on shared spaces, which become more important than individual histories. This can reduce wariness of strangers and create social connections. Third places can lead to more resilient and better-connected communities, building up social capital, while reducing loneliness.
Providing quality third places
There are steps that can be taken to design and safeguard third places. Local councils and urban planners have important roles, given their central place in directing land uses.
Perhaps the most important thing is to understand the valuable social capital that successful third places offer. Once planners understand the value of third places, they can actively work to support them.
Walkability is an important factor. Third places encourage familiarity through repeated incidental interactions between locals, both regulars and newcomers. Ideally, people connect within their local neighbourhoods. Being able to visit without needing a car can encourage more people to use a place.
Space for third places can be designed into neighbourhoods and urban areas. Sections of parkland can be given over to public facilities such as outdoor gym equipment, dog parks or skate parks. Dedicated trading areas can be provided for farmers’ markets.
Third places are most effective when they encourage interactions between locals. Providing facilities and activities creates a purpose to interactions and reasons to start chatting.
Local councils can support citizen-led activities such as community gardens and men’s sheds. They can also provide activities such as Tai Chi classes.
Protecting existing third places is as important as providing new ones. For example, a local council may be tempted to allow housing to take over the site of a community garden. While there may some be reasons to support that idea, it should be carefully considered against the loss of social capital and the risk of entrenching social isolation.
Valuing and promoting third places
We live in an age of urban mobility with no historical comparison. Many of us have been strangers in a new city. Loneliness is an unwelcome and growing feature of this urban mobility. Third places offer a useful and tested model for reducing loneliness by improving community.
Yet many city dwellers see these spaces but don’t use them. In this sense, perhaps the biggest barrier is our willingness to make the time to seek out and participate in third places. For those people who do, banishing loneliness could be one of the greatest benefits.
Tony Matthews, Lecturer in Urban and Environmental Planning, Griffith University
Joanne Dolley, PhD Candidate, Griffith University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/many-people-feel-lonely-in-the-city-but-perhaps-third-places-can-help-with-that-92847" target="_blank">original article</a>.
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Many people feel lonely in the city, but perhaps 'third places' can help with that

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GUEST OBSERVER
Funding for Specialist Disability Accommodation (SDA) under the National Disability Insurance Scheme (NDIS) is expected to support 28,000 people, 6% of all NDIS participants. However, the NDIS has provided limited information about the demand for this specialist housing. Now a newly published study has found the existing supply of SDA needs to grow by 60% to house the 28,000 people the NDIS expects to fund.
The report identified another 33,200 people with very high support needs who “may require SDA on top of the 17,500 already in this form of housing. Of these 33,200 people, 6,200 people are under 64 residing in aged care.”
These are among the insights revealed in the government-funded report by the Summer Foundation, the Australian Housing and Urban Research Institute (AHURI) and SGS Economics &amp; Planning.
It is important to understand the nature and scale of demand, given that SDA is expected to account for NDIS spending of A$700 million a year when the scheme is fully implemented. The transformation from grants-based funding to a market-based system in which people with disabilities control their own funding is predicted to create a A$5 billion disability housing market over the next five years.
What is SDA?
Specialist Disability Accommodation ensures the housing requirements of people with extreme functional impairment or very high support needs are delivered.
SDA payments cover a wide range of housing options, depending on the individual’s needs. By including the payment in the individual’s support plan, the person with disability should have choice and control over where they live and who they live with.
Of course, this depends on a fully functioning, mature and competitive market in which providers compete to provide housing to NDIS participants. SDA payment rates have been set to cover the cost of capital and to incentivise a new market.
What are the key findings?
Comparing existing SDA places with the NDIS’s current projected demand across the country, the study found the supply of such housing needs to grow by 60%. The largest required rate of increase, 120%, is in the ACT. New South Wales requires the most new SDA places (3,290).
The study found the greatest demand in locations with the highest population growth. As an illustration, in southwestern Sydney, the NDIS is expected to increase the current 137 SDA places to 492. That’s 360% growth in disability housing in the area.
The results highlight the differences in people living in current SDA (mainly government-funded group homes) and the population representing the potential demand for SDA.
People in the potential demand group have a far younger age profile. More than two-thirds are under 45 years and half of them are under 34. People now living in SDA have a median age of 42.
The potential demand group also has a very different disability profile. Those living in SDA are predominantly people with intellectual disability. The potential demand group still has a significant proportion of people with intellectual disability, but physical and neurological disabilities become more prevalent. This profile suggests the future SDA cohort will need much more highly accessible housing.
The qualitative component of the study highlights that people who are eligible for SDA have aspirations for housing that is very different from where they live now. Their housing preferences are unlikely to be met by the dominant group home model – most want to live on their own or with friends in a share-house arrangement.
This highlights the need for apartment-style living where people can live independently in their own home with easy access to on-site support.
NDIS pricing encourages these developments. It will provide more than A$107,000 a year for a two-bedroom apartment in addition to the NDIS participant’s rent contribution.
What do the findings mean for policy?
This study provides much-needed insights into the SDA market, which will help potential providers better understand future demand.
However, the study’s predictions of the amount of new SDA housing to be constructed are likely to be underestimates. The study’s underlying assumption is that the current stock will continue to provide housing. In practice, much of the existing SDA stock will need to be redeveloped or replaced to be competitive in a market-based system.
The decommissioning of old stock will also help Australia to meet its obligations under Article 19 of the UN Convention on the Rights of Disabled Persons. This states: 
"Persons with disabilities have the opportunity to choose their place of residence and where and with whom they live on an equal basis with others and are not obliged to live in a particular living arrangement."
Group home living arrangements are inconsistent with this because they force people with disabilities to live with others who, in most cases, they have not chosen.
Recent government inquiries have also shown that group homes are rife with abuse and neglect. Last year over 100 academics wrote an open letter to the prime minister in support of a royal commission into the abuse, with some calling for group homes to be phased out.
When the NDIS is fully rolled out and participants have the freedom to move out of outdated and segregated group homes, they will be seeking a very different type of housing arrangement than they were forced to endure before the NDIS.
This report shows that developers have a significant opportunity to capitalise on the unmet demand. They can achieve sizeable returns while also having a positive impact on the lives of people with disabilities.
How was the study conducted?
In the absence of official NDIS data, the Summer Foundation study analysed data from state-funded disability service systems. The Australian Institute of Health and Welfare (AIHW) compiled this data in the Disability Services National Minimum Data Set. The analysis used data from before the transition of most areas to the NDIS, providing a comprehensive snapshot of people using state-funded disability services.
Likely shortfalls in SDA supply were modelled by distributing the expected supply of 28,000 NDIS-funded accommodation places and comparing that to current populations. In addition to identifying areas with major shortfalls, the analysis modelled potential demand from existing service users with very high support needs who were living in other settings, mainly the family home with ageing parents. This included young people living in nursing homes.
George Taleporos, Adjunct Senior Research Fellow, Living with Disability Research Centre, La Trobe University
<img src="https://counter.theconversation.com/content/93479/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The author wishes to acknowledge the contribution of Robin Zakharov, senior policy adviser at the Summer Foundation.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/ndis-needs-the-market-to-help-make-up-at-least-60-shortfall-in-specialist-disability-housing-93479" target="_blank">original article</a>.
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NDIS needs the market to help make up at least 60% shortfall in specialist disability housing: George Taleporos

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The half-built Shire mansion of Adam Cranston, the man behind one of Australia's alleged largest tax frauds in history, has been sold.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-burraneer-127706986" target="_blank">Burraneer home on the pricey Matthew Flinders Place</a> fetched $2,425,000.
Cranston started the rebuild after he bought the former 1960s home with wife Elizabeth for $1,875,000 in 2015.
The property on 935 square metres with views over Port Hacking has approval for a large four bedroom home with pool.
Century21 agent David Wolfhart sold the home. Cranston's property empire has shrunk with sales also sold in Miranda and the Hunter Valley.
Cranston retains the Bondi Beach property where he was arrested last May. 
The couple bought the Simpson Street townhouse jointly for $1,222,000 in 2015.
He is alleged to have de-frauded the ATO of $130 million.
This article first appeared in The Daily Telegraph. 
 
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Alleged fraudster Adam Cranston's half-built mansion sells

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A four bedroom house in Port Kennedy, the outer southern suburb of Perth, has been sold for $360,000.
It was sold by Roz Hollwarth from Professionals Rockingham.
It last sold at $415,000 in 2007.
<a href="https://www.realestate.com.au/property-house-wa-port+kennedy-127469326">Positioned at 26 Canberra Close</a>, the West Australian home comes with four bedrooms, two bathrooms, formal lounge /dining, and large living areas.
Other features include solar panels, extensive enclosed patio areas and full side gate access.
According to CoreLogic, the suburb's median house price is $370,000.
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Loss for mortgagees in Port Kennedy, WA, four bedroom house sale

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Multiplex, a leading global contractor, has reached a major construction milestone Topping Out the fifth and final commercial office tower that will complete Walker Corporation’s $2.5 billion landmark Collins Square development located at 727 Collins Street in Melbourne CBD.
The $126 million tower spans 33-levels and is 117 metres high. It will provide a total net lettable area of approximately 40,000 square metres of commercial office space.
Designed by high-profile architects Woods Bagot, the fifth tower will feature high quality office space with an architectural curtain wall façade to provide a light-filled spacious entry and public circulation space.
“We are delighted to reach Topping Out stage at Tower 5, bringing us one step closer to the completion of Collins Square,” said Graham Cottam, Regional Managing Director of Multiplex Victoria.
“The smooth delivery of this substantial project is a reflection of our on-going collaboration with Walker Corporation, which will see Multiplex delivering four of the five towers upon completion of the entire precinct.”
According to Multiplex, some 450 people have worked on-site to date, with a total of 22,000 cubic metres of concrete used to get the final tower to its 33-level height. Completion is on track for October, 2018.
Collins Square is one of the largest commercial office developments in Australia. Spanning an entire city block, it consists of five commercial office buildings providing a combined total of more than 200,000 square metres of net lettable area.
The Collins Square development has a Green Star Design and As Built v3 Rating as well as NABERS Energy 5 Star Rating due to its use of a Tri-Generation system for producing power; along with the rainwater harvesting system and water efficient fixtures and fittings.
Multiplex has completed a number of commercial projects across Melbourne over the past few years including Cbus Properties Medibank office at 720 Bourke Street, National Australia Bank building at 700 Bourke Street and Queensland Investment Corporations development in Collins Street.
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Multiplex tops out final commercial office tower at Collins Square

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The former home of Trans Australia Airlines, and more recently Qantas, has sold to an offshore buyer for $90.15million.
The property at at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502622354" target="_blank">50 Franklin Street in Melbourne</a> sold with a new long-term lease in place to the Victorian government.
The deal comes just more than a year after Singapore-based property developer Lian Beng picked up the 18-level office tower in the heart of the city’s education precinct for $51.5million, and six months after the state government signed a 10-year lease to occupy the entire building.
It was sold by a band of 12 private investors and was sold by vacant possession after the departure of Salmat.
Savills Australia’s Ben Parkinson, Paul Craig and Ben Azar managed the international expressions-of-interest campaign in conjunction with Colliers International’s Trent Hobart.
Parkinson said the buyer recognised the potential of the property’s solid passive income stream, which spiked 116 enquiries and ultimately 14 offers, six domestic and eight offshore, from a combination of private and listed groups.
“The Victorian state government has signed on for 10 years, with various departments to occupy the space and undertake a multi-million-dollar major building upgrade during the tenancy,” he said.
“There’s a focus on increasing the NABERS Energy rating from 1.5 stars to three-plus stars.”
Ben Azar said the property’s ultimate income security under the strong AAA-rated government lease covenant was the deciding factor in the deal.
“This is an extraordinarily rare opportunity to acquire a whole building occupied by a government tenant,” he said.
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“50 Franklin Street is one of only two buildings with a net lettable area under 20,000 sqm, 100 per cent occupied by a government tenant in the Melbourne CBD.”
Paul Craig said the Melbourne CBD continued to be a core Asia Pacific investment destination and Australia’s most diversified office market.
“The forecast office supply from 2017 to 2026 is indicating only half the stock of the previous decade will come to market against a backdrop of sustained high demand,” he said
“This is anticipated to translate to effective rent growth and the ongoing generation of Melbourne’s sought-after high-return profile.”
Mr Parkinson said the buyer planned to capitalise on the tower’s future development upside, with hotel, studentand residential accommodation among the possible opportunities.
“The flexible floorplate configuration allows for easy conversion,” he said.
“With the prominent total site area of 2,213 sqm, there is potential to increase the building area to 40,000 sqm, subject to council approval.”
50 Franklin Street is in one of the Melbourne CBD’s most rapidly evolving precincts, with major state government and City of Melbourne infrastructure works being undertaken in the immediate vicinity, including the $10.9billion Metro Rail Project and the revitalisation of the Queen Victoria Market.
“Anticipated to become one of the most densely populated precincts in the world, this will be the epicentre for office and education use,” Azar said.
“During this time of growing demand in the international education sector and falling yields for commercial offices, we expect significant domestic an off-shore enquiry for this asset.”
Extensively refurbished about eight years ago, the building includes four passenger lifts, 36 basement car parks, an entrance lobby and flexible ground-floor commercial space.
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Former Trans Australia Airlines house flies for $90.15 million

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Adelaide real estate investor PPI Funds Management has bought the Greenacres Shopping Centre near the CBD for $10.5 million.
It sold fully leased with a yield of 7.25 percent, achieving around $3,500 per sqm.
Savills Australia brokered the off-market deal having approached a select number of investors.
Savills agents Peter Isaksson and Rino Carpinelli brokered the deal on behalf of Graham Investments, suggesting the buyers had been eyeing the asset for some time.
“They already own the adjacent Coles supermarket and bulky goods site so Greenacres Shopping Centre is a strategic acquisition, as it consolidates ownership of a major metropolitan-district complex to a total site area of about 43,226sqm," Isaksson said.
Specialty retailers already operating in the centre include H&amp;R Block, Greenacres Surgery medical clinic and National Pharmacies, as well as a BankSA branch.
Carpinelli said the buyer recognised the future upside potential of the property, based on its busy suburban location just 12 kilometres north-east of the CBD.
“Greenacres Shopping Centre is superbly positioned on the corner of North East Road and Muller Road, next to a high-performing Coles supermarket and Liquorland, giving it critical exposure to daily passing traffic,” he said.
Carpinelli said South Australian shopping centres were becoming a popular market among investors, as record sale prices being achieved for shopping centre listings on the eastern seaboard were pricing out local buyers.
“Savills is also sourcing speciality retail tenants for a new retail complex in Victor Harbor, which is anchored by a Coles supermarket, Liquorland and Bunnings Warehouse,” he said.
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Developer goes on shopping spree for Greenacres

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Real estate investment firm Qualitas has announced its acquisition of the Allied Pinnacle property portfolio for around $400 million. 
The portfolio comprises ten flour-milling and bakery operations across Australia. Allied Pinnacle will maintain full control of the operations at the sites through 30-year, triple-net leases.
Purchased from Allied Pinnacle, the portfolio is expected to provide a yield of 6%. The tenant has a 100-year trading history and is the largest supplier of flour for human consumption in Australia, with a market share of approximately 40% servicing major grocery retailers, industrial bakeries and over 2,000 independent bakeries nationally.
Mark Fischer, Managing Director, Principal Investments at Qualitas, said: “These properties represent core strategic assets of the tenant and provide a national network of irreplaceable production facilities that are critical to the nation’s food supply.TENAN
“The long-term leases provide operating certainty for the tenant and positive returns for investors, as the tenant has a long history and significant market share. The properties provide exposure to a resilient part of the food sector, with flour-based products making up over 20% of the Australian diet. The underlying real estate is predominantly urban infill land, with most sites in prime suburban locations of major cities.”
Mr Fischer said the properties have been placed into a wholesale vehicle, the Qualitas Food Infrastructure Fund. There has been strong investor support for the fund, predominantly from European and Asian pension and life insurance capital as well as domestic institutional investors, he said.
“This is a unique offering for investors, as it has elements consistent across real estate, infrastructure and agricultural investments, and brings benefits from each sector. Our thesisis that there is a developing universe of “cross-over” investors from each of those sectorswho are increasingly focused on what we call ‘soft infrastructure’.
“This delivers long-duration income without the regulatory risk that comes with hard infrastructure or the tenant demand vagaries of traditional real estate.
“Deals like this don’t come along often, so we’re really pleased that Qualitas was the successful bidder,” Mr Fischer said.
James Ajaka, Allied Pinnacle CEO, said: “We are very pleased to have sold these tenproperties to Qualitas. This partnership will allow us to maintain full operational control of ourbusiness, while Qualitas take ownership of a great suite of properties”.
An extensive sales process was run by CBRE and Charter Keck Cramer, with Arnold Bloch Leibler advising Qualitas on the acquisition and King &amp; Wood Mallesons advising the vendor. Minter Ellison advised Qualitas on the establishment of the Qualitas Food Infrastructure Fund.
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Qualitas buys Allied Pinnacle property portfolio in $400 million deal

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Investors are predicted to seek to secure a prime slice of Broadbeach real estate, located in what has proven to be one of the key growth hubs on the Gold Coast.   
The Aria Retail complex positioned on the ground floor of the popular Aria Resort and Boutique Apartments is located in the heart of Broadbeach.
The 1,472 sqm retail holding comprises the entire ground floor retail complex on the ground floor of the Aria building.
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It features 14 restaurant and retail tenancies on two separate lots and includes basement parking for 42 vehicles. 
Aria is centrally positioned on Surf Parade the primary resort and dining destination and features a diverse mix of retail, service and restaurant tenancies, including restaurants La Roma and On Fire as well as Molly Malone’s Irish Bar.
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Savills Jon Tyson and Peter Tyson are marketing the property with Stewart Gilchrist and Darrell Irwin of Colliers International.
Jon Tyson said the property is on the market for the first time in 15 years, and should be well received in the marketplace.
“Aria Retail is one of the Gold Coast’s first major retail property offerings for 2018 and given its high profile location and diverse tenant line up is expected to draw strong interest from both local and interstate investors,” Jon Tyson said.
Savills’ Peter Tyson said that the Gold Coast is now Australia’s sixth largest city with a growing economy and has matured as an investment destination.
“With a population approaching 600,000 this year, over 12 million tourist visitors annually and over $13.5 Billion in major infrastructure projects, the Gold Coast has come of age.
“The Aria Retail complex is strategically positioned in the primary resort and dining precinct of Broadbeach, within walking distance to key attractions including the Star Casino, the Gold Coast Convention Centre and the city’s expanding light rail system. 
Colliers International’s Stewart Gilchrist said that Aria offers a rare opportunity in today’s market to acquire an entire retail complex in the tightly held central Broadbeach CBD. 
 
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Aria Retail Complex at Broadbeach to sell

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

Joel Robinson

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

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

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Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

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Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

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A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[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."

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Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

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The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Lowe Living launches Jardin House in Camberwell

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

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