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After a four week marketing campaign, Ray White Group's Andrew Jolliffe, has sold the Padstow Park Hotel. 
The hotel, currently ranked 169 in the State's top 200 gaming hotels, and the recipient of a recent extension of trading hours windfall until 2am, is situated opposite Padstow train station on a 2700 sqm block. 
Jolliffe advised that the auction room was again well supported by purchasers. 
His auction sale record is now sitting at an 86% success rate.
The hotel was purchased for $26,000,000.00 by JDA hotels who enjoyed a management agreement at the hotel, confirmed Jolliffe. 
The hotel was sold by White &amp; Partners who bought it in 2014 for $13.7 million when sold by Wesfarmers hospitality arm Coles Liquor. 
"The market remains particularly active at present with the bandwith of sales for A grade hotels operating between 7% and 8.5%" commented Jolliffe. 
Speaking on behalf of the purchaser, John Feros said they clearly knew the hotel, and had a good appreciation of the area; "having operated hotels in that part of Sydney for decades." 
Ray White Hotels Australia has another 80m worth of hospitality assets currently under agreement, including the Ophir Tavern in the State's South West which the firm sold on behalf of Sydney based P.E. firm EBC Capital last Friday following an EOI campaign.
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Padstow Hotel price almost doubles in four years

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A southern Sydney four bedroom house has been listed for sale by Mitchell Wynn and Laura McKay from Highland Property Agents.
The auction has been scheduled for April 7.
Combining a north aspect, spacious family comfort and sublime entertaining areas, the Woolooware home is just moments from Cronulla Beach.  
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The home at <a href="https://www.realestate.com.au/property-house-nsw-woolooware-127856674" target="_blank">5 Seaforth Avenue </a>comes with five bedrooms, open family/dining area with outdoor flow, Caesarstone gas kitchen and solar heated in-ground swimming pool.
Additional features include covered outdoor entertaining area with built-in barbecue, double garage, and north facing backyard.
The land size is 650 sqm close to schools, shops and transport.
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Woolooware four bedroom house for sale 

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The Agency has partnered with the Australian Turf Club, and as part of its sponsorship, the prestigious George Ryder Stakes will now be The Agency George Ryder Stakes.
Matt Lahood has assisted the ATC for 20 years as a property advisor.
"I am thrilled to re-connect with this much-loved Australian sporting institution," he said.
He caught up with the ATC chairman Laurie Macri to celebrate their working together (above).
The Agency George Ryder Stakes – one of five Group 1 races on Longines Golden Slipper Day – is also ranked as one of the highest rated races in the world.
The world’s equal highest rated horse Winx has won the past two The Agency George Ryder Stakes and is again aiming for the $1 million Group 1 race.
 
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The Agency sponsors George Ryder Stakes

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Australia’s inflation target is to keep annual consumer price inflation between 2 and 3 per cent, on average, over time, a Reserve Bank of Australian discussion paper re-affirmed last week.
The measure of consumer price inflation is the percentage change in the Consumer Price Index (CPI), which is deemed is a suitable measure because it captures price changes for the goods and services that households buy, is independently produced by the Australian Bureau of Statistics, is publicly available and does not get revised.
Since the early 1990s, the rate of CPI inflation – also known as ‘headline inflation’ – has, on average, been within the target range and expectations of inflation have been consistent with the target.
The Reserve Bank also closely monitors ‘underlying’ inflation, which excludes items that have particularly low or high inflation rates (either frequently or in a given quarter).
This allows the Reserve Bank to look through any temporary factors that are affecting the CPI and to assess broader inflation pressures.
Underlying inflation has averaged around the same as headline inflation since the early 1990s. Low and stable inflation has reduced uncertainty in the economy and has underpinned economic growth.
  
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The paper noted the inflation target provides a framework to guide a central bank’s policy decisions and to ensure accountability in its management of the economy.
The Reserve Bank adopted the inflation target in the early 1990s, as did various central banks around the world, with other central banks following suit over the subsequent decade.
In 1996, the Reserve Bank and the Government agreed on the importance of the inflation target and formalised this agreement in the Statement on the Conduct of Monetary Policy (which is typically updated following a change of government or Reserve Bank Governor).
The Reserve Bank uses an inflation target to help achieve its goals of price stability, full employment, and prosperity and welfare of the Australian people.
The paper noted this was because price stability – which means low and stable inflation – contributes to sustainable economic growth.
"Targeting inflation of 2 to 3 per cent avoids the many costs to the economy from inflation that is too high or too low," it noted.
If inflation is too high:
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<li>
Consumers’ purchasing power – the real value of money – is reduced. If prices are increasing faster than people’s nominal incomes, they will be able to afford fewer goods and services than before.
</li>
<li>
Workers may then seek larger wage increases to compensate for the effects of higher inflation on their purchasing power. In turn, higher wage growth raises firms’ costs, which may lead firms to raise prices further and/or reduce the number of workers they employ.
</li>
<li>
Spending and investment decisions may be distorted. This is because high inflation can influence when households make purchases or businesses make investment decisions. For example, if households expect higher inflation, they may make purchases sooner than originally planned to avoid paying more.
</li>
<li>
Returns on investment may be lower. Inflation influences investment decisions because a higher inflation rate will reduce the real return on the investment. Inflation can also affect the real interest paid by borrowers to lenders. For example, if inflation turns out to be higher than expected when the loan was agreed, the lender will get less than they had planned because inflation reduces the purchasing power of the interest earnings they receive.
</li>
<li>
Businesses need to update their prices more frequently and consumers spend more time comparing prices. This increases their uncertainty about the economy, which may discourage spending and investment and reduce economic growth.
</li>
<li>
A country’s international competitiveness may be lowered. If inflation is higher in one country, then the goods and services it produces will become more expensive compared with other countries (unless its currency depreciates). For more on exchange rates, see <a href="https://www.rba.gov.au/education/resources/explainers/exchange-rates-and-the-australian-economy">Explainer: Exchange Rates and the Australian Economy</a>.
</li>
</ul>
If inflation is too low:
<ul>
<li>
Consumers may delay purchases if they expect prices to fall. As a result, falling prices – a situation called ‘deflation’ – can lead to lower spending. Businesses could respond by laying off workers or reducing wages which, in turn, places further downward pressure on demand and prices.
</li>
<li>
Businesses facing difficult conditions may find it hard to reduce the real wages of their employees and may resort to laying off workers instead. This is because businesses that need to decrease their real wages usually choose to allow their nominal wages to grow at a rate that is below the general rate of inflation, and if inflation is very low this is more difficult to do.
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A real value is a dollar value – also known as a nominal value – less the effects of inflation.
The difference between real and nominal values can be shown using income as an example. Suppose that a worker earned $100 last year and $105 this year. The worker has received a 5 per cent increase in nominal income. Also suppose that the inflation rate is 2 per cent over the same period. If we subtract the rate of inflation from the growth in the worker’s nominal income, then the worker’s real (or inflation-adjusted) income has increased by 3 per cent. This means that the worker can buy 3 per cent more goods and services than before. In other words, their purchasing power has increased by 3 per cent. This and some other examples are shown below.
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Monetary policy aims to keep inflation between 2 and 3 per cent, on average, over time, in support of the Reserve Bank's goals of price stability and full employment. Assessing the current and expected rate of inflation against the inflation target helps the Reserve Bank in making monetary policy decisions. When inflation is above the target, this can be a sign that the economy is overheating. When inflation is below the target, this can be a sign that there is spare capacity in the economy.
The cash rate is then used to dampen or stimulate economic activity so that inflation is consistent with the target. If inflation is expected to be higher than the target for a prolonged period, the Reserve Bank would typically increase the cash rate. If inflation is expected to be lower than the target for a sustained period, the Reserve Bank would typically lower the cash rate. Changes in the cash rate take time to affect the economy.
The discussion paper noted that was why the Reserve Bank looks to what inflation is forecast to be in the future when deciding on the level of the cash rate today. 
When deciding if monetary policy should respond to inflation – both current and expected – the Reserve Bank Board distinguishes between temporary and persistent changes in inflation.
<div>If inflation is expected to be:</div>
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<div class="image-graph">Temporary changes in inflation may be caused by things like supply disruptions or seasonal sales, while persistent changes in inflation arise from things like a sustained increase in wage growth across the community. The Reserve Bank ‘looks through’ temporary changes in inflation when setting monetary policy. However, if households and businesses expect a change in inflation to be longer lasting, it can have a bigger effect on their behaviour and consequently become more important to monetary policy decisions.
Why target 2 to 3 per cent?
The 2 to 3 per cent target range is sufficiently low that inflation at this level does not significantly influence people’s economic decisions. This target range was set in the early 1990s when inflation of around 2 to 3 per cent had already been achieved. It was decided that inflation should be kept at around that rate, given the fact that the lowest average inflation rate experienced by other countries had, over many years, been a little over 2 per cent. At these levels of inflation an economy can achieve sustainable growth in output and employment.A higher inflation target could increase uncertainty and costs in the economy. A lower inflation target, on the other hand, is costly to achieve.For example:<ol>
<li>The reduction in growth in spending and investment required to keep inflation at a lower target would lower output growth and increase unemployment.</li>
<li>Having inflation much lower than 2 to 3 per cent over the medium term can limit the ability of monetary policy to stimulate demand. For example, in response to a sharp decline in aggregate demand, it may be the case that monetary policy should be set such that real interest rates become negative. Having a very low inflation target (so that actual inflation is close to zero) makes it more difficult to reduce real interest rates to such levels.</li>
<li>Businesses that need to decrease their real wages and prices in response to negative events usually choose to allow their nominal wages and prices to grow at a rate that is below the general rate of inflation; if inflation is very low, there is less room for a business’s wages or prices to grow at a rate below inflation.</li>
</ol>In addition, the inflation target must be high enough to account for measurement bias in the CPI. The CPI is upwardly biased because it is calculated with a fixed basket of goods and services which is only updated once a year; until 2017 it was updated only once every few years.A fixed basket does not take into account that households will adjust their spending patterns to buy less of items with relatively higher inflation rates and buy more of items that are becoming relatively cheaper. Consequently, the price of the basket of goods and services that they actually consume will increase by less than the price of the fixed basket. The Reserve Bank’s inflation target is flexible. This means that inflation does not need to be in the target range at all times, but on average, over time. Inflation can be affected by temporary influences, such as supply disruptions or a tax change, which monetary policy should not respond to.Furthermore, having a flexible inflation target allows the Reserve Bank to consider its broader objectives of employment and financial stability. </div>
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Understanding the RBA's inflation target: Economics 101 

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Australian cities continue to offer the world’s highest quality of living and remain attractive destinations for expatriates on assignment, according to Mercer’s 20th annual <a id="m_6268133976315433249LPlnk333679" href="https://www.imercer.com/content/mobility/quality-of-living-city-rankings" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.imercer.com/content/mobility/quality-of-living-city-rankings.html&amp;source=gmail&amp;ust=1521672718938000&amp;usg=AFQjCNGzgPb919p4f5qmXOE6SosrcdYguQ">Quality of Living survey</a>. 
However, it was also revealed that cities in emerging markets, though challenged by economic and political turmoil, are catching up with top ranking cities following decades of investing in infrastructure, recreational facilities and housing in order to attract talent and multinational businesses.
This year, Vienna tops the ranking for the 9th year running and is followed by Zurich (2), Auckland and Munich in joint 3rd place.
In 10th place, Sydney ranked highest for Australia, followed closely by Melbourne at 16th place.
Just missing out on the top 20 was Perth at 21, followed by Adelaide (29), Canberra (30) and Brisbane (37).
Simon Kennedy, Mercer’s Market Insights Leader in Australia said that Australian cities continue to rank high due to factors such as stable political and social environment, strong infrastructure, good quality housing and recreational facilities combined with excellent medical and health services which attract international talent and businesses.
“Today’s workplace is rapidly changing as we see more and more companies moving workers abroad,” said Kennedy.
“However, to successfully transition employees to new locations, companies must understand the demands of operating in a contemporary VUCA (volatile, uncertain, complex and ambiguous) environment. Importantly, companies need to be mindful of not only the costs associated with expatriate postings, but the quality of life provided by the new locations.”
<ul>
<li>All Australian cities within the global top 40; Sydney and Melbourne at 10 and 16 respectively</li>
<li>Vienna ranks highest for quality of living for the 9th year in a row</li>
<li>Mercer’s 20th annual Quality of Living survey provides rankings for more than 450 cities throughout the world; this year’s ranking includes 231 of these cities</li>
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Sydney retains 10th ranked in international quality of living survey

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The Sydney investment management firm KSI Investments has successfully raised $6.4 million from investors using the DomaCom crowdfunding platform.
They have transacted on the first of two side by side parcels of land in the South-West Sydney suburb of Rossmore which is 5km from the new Badgery’s Creek airport for Sydney and 5km from the planned strategic regional centre at Leppington.
Robin Luo, CEO of KSI Investments says it was a significant milestone "not just for KSI Investments, but for all Australian property investors."
"We have successfully gathered together a group of likeminded investors interested in buying land and helped them transact on a prime piece of land in Sydney’s South-West growth corridor”. 
KSI Investments believe their key to success has been transparency.  
Endre Kollo, Investment Director of KSI Investments says unlike failed land banking schemes of the past, "we are a totally different proposition."
" We do not have complex structures involving many different companies and trusts, we do not borrow any money and we do not hide behind the veil of a wholesale fund status”.  
DomaCom CEO Arthur Naoumidis said DomaCom was delighted to be involved.
"We manage an ASIC registered retail managed investment fund under an Australian Financial Services Licence.
"This transaction strongly demonstrates the vision behind the DomaCom platform, as we’re helping investors pool money together to purchase quality land assets that would normally be the domain of institutional investors.” 
The 64 Devonshire Road property at Rossmore is the first in a series of planned acquisitions by KSI Investments.
Although the first land fund is now closed, the adjoining block of land is now open for investment through the second fund. 
The fund is able to accept investment from SMSF investors as well as private investors, companies and trusts with a minimum investment of $2,000 for 60 Devonshire Road, Rossmore (6.32 acres).
The site is expected to accommodate between 110 to 140 houses if rezoned residential which is anticipated to occur over the next 5 to 7 years.
DomaCom offers investors a liquidity facility that enables investors to trade units in the fund freely at any time, provided there is a matching buyer and seller before the eventual land sale.
The fund will incur a 2 per cent annual management fee and 20 per cent performance fee at the time of the sale of the land. 
The expected timeframe of investment is 5-7 years with maximum term of 10 years.
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Australia’s first retail land banking managed fund aimed at SMSF investors completes Rossmore acquisition

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The Australian Prime Property Fund (APPF) Commercial, managed by Lendlease Investment Management, has joined one of Australia’s largest superannuation funds, First State Super, to jointly acquire Two Melbourne Quarter, a next-generation office building located in the Melbourne Quarter precinct. 
A development agreement has been signed with Lendlease Development to build the tower.
Two Melbourne Quarter is the second of three commercial towers planned for the precinct. The first tower, One Melbourne Quarter, was acquired by APPF Commercial in 2016. It is 90 per cent leased and on schedule for completion later this year.  
Two Melbourne Quarter has also secured EnergyAustralia as anchor tenant, the largest tenant to date for the precinct. With construction to commence this month, EnergyAustralia has agreed to lease approximately 22,000 sqm of the 50,000 sqm tower, taking up 10-and-a-half levels of the building’s high-rise floors. 
With almost half the Woods Bagot-designed tower now leased, this leaves approximately 12 contiguous floors remaining. The building features flexible 2,000 sqm floor plates and is expected to house up to 4,500 new workers. 
First State Super and APPF Commercial will each hold a 50 per cent interest in the 25- storey tower, which will target leading sustainability outcomes and ratings in energy and water consumption, waste management, and indoor environment quality, including a 6- Star Green Star Design &amp; As Built rating and a 5.5 Star NABERS Energy rating. 
Developed by Lendlease, the Melbourne Quarter precinct will seek to deliver a range of attractive workplace and wellbeing amenities including end-of-trip facilities, business amenities and childcare services. 
APPF Commercial’s investment in Two Melbourne Quarter follows a recent equity raising. 
The fund leveraged its off-market access to Lendlease’s leading office development and urban regeneration capability in acquiring the asset. APPF Commercial is the first Australian fund to be awarded a 6-Star Green Star portfolio performance rating and was also ranked number one in the 2017 Global Real Estate Sustainability Benchmark (GRESB) across all sectors globally. 
 
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Lendlease Fund and First State Super acquire Two Melbourne Quarter 

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The longtime Lavender Bay bolthole of the renowned Bali-based landscaper, Made Wijaya was sold at auction earlier this month for $1.19 million.
It was listed following his 2016 death.
Born Michael White, Wijaya secured an international reputation especially after designing the late David Bowie’s garden at his Caribbean island of Mustique. 
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<div class="cT-imageLandscape lead">His one bedroom Walker Street ground floor apartment, which overlooks Wendy Whiteley’s Secret Garden, was bought in 1996 for $295,000.</div>
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Stone McMahons Point’s Heather McCartney had $850,000 hopes, but there was a $900,000 opening bid.
This article was first published by The Sunday Telegraph.
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Lavender Bay sale by Made Wijaya's executor

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The recent rush of Chinese-backed development in Australia has created inroads for some of the country's architecture firms to also export their design expertise.
DBI Design team has just won the tender to the masterplan of a $3 billion development for a new financial district in Shantou, 300 kilometres north-east of Hong Kong - billed as a new 'micro city'.
The project will include 10 commercial buildings, 16 apartment and residential towers, two hotels , a shopping centre, cultural precinct and marina.
The new micro city will house more than 7,000 permanent residents, accommodate more than 2,000 tourists and support a working population of more than 22,000.
The new community, which is being developed on the 68 hectare site of an abandoned theme park, will be known as the Shantou Overseas Financial Centre.
DBI Design director Raith Anderson says Shantou Overseas Financial Centre is the company's next headline international development, following on from the $1.5 billion Etihad Towers in Abu Dhabi, which was completed in 2012 and has won accolades in the 2011 World Travel Awards and 2012 Emporis World Skyscraper Awards.
It will take about eight years to develop.
"This clearly shows that it is a two way street in terms of Australian-Chinese property development.
"While we have seen a lot of Chinese-led projects in Australia recently, the Chinese are very receptive to high quality design proposals from Australian firms," he said adding China was increasingly moving away from design conformity and embracing creativity.
"It's all about big picture thinking - creating a whole new space where people can live, work and play. While this project is branded a financial centre and the emphasis is on the two signature 380 metre high commercial and hotel towers, the vision is to attract permanent residents and tourists too - it will be a new destination in its own right."
The Shantou Overseas Financial Centre is being developed by  JinFeng Group, a large Guangdong-based private enterprise headquartered in central Hong Kong.
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With a registered capital of RMB200 million and total assets worth over RMB10 billion, the Group’s operations have grown from its core real estate business into diversified areas including construction, tourism, mining and financial investment. 
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Australia's DBI Design overseeing new $3 billion micro city in China

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Line honors goes to Australia’s top performing capital city Hobart, according to CoreLogic research analyst Cameron Kusher.
It had been a standout performer with the strongest market conditions over the past year in terms of value growth.
One suburb of Mornington, set 7kms from the Hobart CBD, recorded the shortest days on market for house sales in the country.
"In fact, the five suburbs with the shortest days on market for houses in Hobart have a shorter time on market than the fastest selling suburbs in each other capital city," Kusher noted.
In Sydney and Melbourne, the suburbs to record the shortest days on market figures for houses are typically located on the outskirts of the city and all hold median house values which are lower than the city-wide medians.
“This is reflective of much stronger demand, particularly over the second half of the year, for lower valued housing in both of these cities,” Kusher said.
In Brisbane, the fastest selling suburbs are typically reasonably close to the city centre with values only slightly higher than the city-wide median. 
“Unlike Sydney and Melbourne, affordability is less challenging in Brisbane and there hasn’t been any recent policy changes for first home buyers to boost demand at the more affordable end of the pricing range like in Sydney and Melbourne." 
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Adelaide’s fastest selling suburbs are typically quite close to the city centre with three of the five having median values well above the city-wide median with the remaining two suburbs (Saint Mary’s and Park Holme) slightly above the median. 
Similar to Brisbane, affordability is less challenging in Adelaide rela"tive to the larger cities and buyers are likely to be viewing inner city areas offering good value."
In Perth, Heathbridge, one of the five suburbs listed has a median value below the city-wide median while the other four suburbs are relatively closer to the city centre and have higher values. 
Kusher noted that housing demand was weaker across Perth since 2014, but more recently sales volumes have been improving after values have fallen by around 12% since their peak. 
The fastest selling homes in Darwin have a longer days on market figure compared to the other capital cities; a reflection of the tough selling conditions and soft housing demand. These suburbs are all located relatively close to the city centre and all have median values above the city-wide median. 
In Canberra, the fastest selling suburbs are generally located around the suburban fringe. 
Charnwood and Holt have median house values which are below the city-wide median, although not substantially so. Hackett is the only suburb not within the Belconnen District of the city. 
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CoreLogic's fastest selling capital city suburbs, houses, 12 months to December 2017 
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For units, Taylors Hill in Melbourne and Bellerive and Montrose, both of which are in Hobart, have the shortest days on market at just eight days. 
In Sydney, the fastest selling suburbs for units are quite mixed, however each of the suburbs are located outside of the inner suburbs. Cherrybrook and Russell Lea have median values higher than the Sydney median. Panania is slightly below the city-wide median while the cost of units in North Gosford and Ourimbah on the Central Coast is significantly lower than the city-wide median. 
The five fastest selling suburbs for units in Melbourne are all located in outer areas of the city. The five suburbs also have median unit values which are substantially lower than the median for Greater Melbourne, suggesting buyers are seeking out more affordable housing options. 
Brisbane’s suburbs with the shortest days on market for units are all located within the Brisbane council area and they all have a median value under $400,000; only Wishart and Windsor have a median value which is higher than the Greater Brisbane median. 
Four of the five fastest selling unit markets in Adelaide have a median value which is higher than the Greater Adelaide median, suggesting demand is strong at the higher priced end of the market. Each of the five suburbs are located within close proximity to the city centre. 
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Four of the five suburbs with the fewest days on markets for units in Perth have median values which were well above the Greater Perth median. In fact, a number of the suburbs are amongst some of the most expensive unit markets in the city sitting within some of the most prestigious suburbs. 
Sandy Bay was the only suburb to make the list of fastest selling unit markets in Hobart with a median value above the city-wide median. Montrose is the only suburb which is not particularly close to the city centre. 
Units are typically taking much longer to sell in Darwin than they are elsewhere. All of the fastest selling markets are reasonably close to the city centre. 
Across Canberra, three of the five fastest selling unit markets are located within the Gungahlin district. Meanwhile, Amaroo and Page are the only suburbs that have higher median unit values than the Canberra median. 
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CoreLogic's fastest selling capital city suburbs, units, 12 months to December 2017 
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The fastest selling suburbs where homes are flying off the shelves 

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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