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Westpac Group is set to use three leading global credit agencies to track liar loans to boost its loan scrutiny.
Westpac will advise its borrowers' their credit information will be soon be screened by Equifax, Experian and illion, which is formerly Dunn and Bradstreet Australia.
The Australian Financial Review said it will allow Westpac and its subsidiaries, Bank of Melbourne, St George Bank and BankSA to review all debts of the applicants, including drawn lines of credit, rather than just credit inquiries, and any defaults.
Equifax, which is headquartered in the US, claims its collects information on more than 800 million individual consumers and 88 million businesses worldwide.
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<div>The Australian Prudential Regulation Authority and the federal government have been pressing for better credit checking to reduce lenders' exposure to defaults.</div>
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<div>One in five property borrowers are exaggerating their income and nearly half understating their spending, according to recent analysis of loan applications by online property lender Tic:Toc Home Loans.</div>
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The issue of liar loans' flared when investment bank UBS estimated last year about 30 per cent of home loans could be affected.
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j.ballantyne1990-6AQqhLzZaK

Westpac moves to thwart property liar loans with international credit checks

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ASIC has released a report setting out the details of the changes made by the big four banks to remove unfair terms from their small business loan contracts of up to $1 million.
The report, Unfair contract terms and small business loans  provides more detailed guidance to bank and non-bank lenders about compliance with the unfair contract terms laws as they relate to small business.
The report follows the announcement in August 2017 that the big four banks had committed to improving terms of their small business loans following work with ASIC and the Australian Small Business and Family Enterprise Ombudsman.
ASIC Deputy Chair Peter Kell said the UCT report provides further guidance to help banks and other lenders ensure that their small business loans are fair, and do not breach the rules prohibiting unfair contract terms.
The report:
<ul>
<li>Identifies the types of terms in loan contracts that raise concerns under the law</li>
<li>Provides details about the specific changes that have been made by the banks to ensure compliance with the law</li>
<li>Provides general guidance to lenders with small business borrowers to help them assess whether loan contracts meet the requirements under the unfair contract terms law</li>
</ul>
"ASIC will review small business lending contracts across the market.
"There are no excuses for failure to comply with the UCT laws, and we will consider all regulatory options available to us if we identify lenders whose unfair contracts break the law."
ASIC will monitor the four banks' use of the clauses to ensure they are not applied or relied on in an unfair way.
ASIC and ASBFEO will continue work together to ensure small business loan contracts comply with the unfair contract terms law.
Unfair contract terms protections were extended to small business from 12 November 2016.
Small business loans are defined as loans of up to $1 million that are provided in standard form contracts to small businesses employing fewer than 20 staff are covered by the legal protections.
In August 2017, ASIC and the ASBFEO welcomed the changes to small business loan contracts by the big four banks that have:
<ul>
<li>Ensured that the contract does not contain ‘entire agreement clauses’ which prevent a small business borrower from relying on statements by bank officers (e.g. about how bank discretions will be exercised)</li>
<li>Limited the operation of broad indemnification clauses</li>
<li>Addressed concerns about event of default clauses, including ‘material adverse change’ events of default and specific events of non-monetary default (e.g. misrepresentations by the borrower)</li>
<li>Limited the circumstances in which financial indicator covenants will be used in small business loans and when breach of a covenant will be considered an event of default</li>
<li>Limited their ability to unilaterally vary contracts to specific circumstances with appropriate advance notice.</li>
</ul>
 
 
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ASIC reports on changes to small business loan contracts by big four banks 

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A highset Queenslander style house in South-Eastern Queensland has been sold by Wal Pavel Real Estate for $170,000.
The Maryborough house has been much traded, selling twice previously at a higher price, $190,000 in 2005 and $186,000 in 2004.
<a href="https://www.realestate.com.au/sold/property-house-qld-maryborough-125800630" target="_blank">Situated at 142 Pallas St</a>, Maryborough, the house comes with two bedrooms, dine-in kitchen, separate lounge and dining rooms, two bay garage with workshop.
Additional features include detached "Rustic Style" entertaining area.
The 911sqm allotment comes with good vehicle access to the rear of lot.
It is centrally located and within close proximity to CBD.
The suburb's median house price sits on $200,000, according to CoreLogic.
Another Maryborough house was sold recently by mortgagees for $170,000.
It last sold for $195,000 in 2006.
Partly renovated, the 531 Alice Street home comes with three bedrooms, lounge, dining and family areas.
 
 
 
 
 
 
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Maryborough, Queensland $170,000 mortgagee sale

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Having soared since the start of 2013, Sydney housing market values are dropping at an alarming rate.
In January dwelling values across Sydney fell 0.9 percent, the fifth consecutive monthly decline.
CoreLogic-Moody's Analytics forecasts house prices in Sydney's inner circle could see double digit price declines, with further declines in some areas rolling in to 2019.
Nearly every Greater Sydney region saw double digit growth last year, but now on average are expected to see around four percent losses.
Apartments are also expected to slow, but not as sharply, with a 0.3 percent expansion expected in 2018, from the 9.8 percent growth in 2017.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/20/NSW%20forecasts.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/20/NSW%20forecasts.jpg" alt="">
The regions further outside of Sydney city are predicted to only see small drops, while the likes of Sydney's inner areas are touching the 10 percent decline mark.
The rest of New South Wales, such as Coffs Harbour and Newcastle are expected to continue to see strong price growth.
Elsewhere in the country CoreLogic-Moody's found softness in Melbourne and Brisbane, with declines in Perth, Canberra and Darwin.
Home values in Hobart and Adelaide are defying the trend and continue rising.
House values in Melbourne are forecast to increase three percent in 2018, although declines are forecast for Inner Melbourne. Melbourne’s apartment market is expected to hold up and gain 5.2% in 2018.
House values across Brisbane are forecast to gain a mild 1.8% in 2018, with strength in West Brisbane and Inner Brisbane offsetting declines in South Brisbane and Logan-Beaudesert areas. 
Brisbane’s apartment values are tipped to rise this year, driven by recovery in North Brisbane apartment values. Apartments in East Brisbane and West Brisbane are still expected to post mild declines. 
House values in Perth will have another year of decline, with a 1.9% decline forecast for this year before a 1.2% recovery in 2019, driven by the steadily recovering local economy. 
Meanwhile Adelaide’s housing market will extend its remarkable run, albeit at a moderating pace. 
House values in Adelaide are forecast to rise 2.6% in 2018, following a 4.9% gain in 2017. 
Canberra’s housing market will similarly slow down, with values forecast to rise 4.8% in 2018 after an 8.7% gain in 2017.
  
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Near double-digit downturn predicted in pockets of Sydney: CoreLogic-Moody's Analytics

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The Reserve Bank of Australia should follow the example of other central banks and be clearer about when and how rates will change, called “forward guidance”, to make its policy more effective.<a href="https://theconversation.com/profiles/giovanni-pellegrino-452180"></a>
At the moment the RBA follows an approach to implement monetary policy known as <a href="http://www.rba.gov.au/monetary-policy/" target="_blank">inflation targeting</a>. This means it has a numerical target for inflation (an average 2-3% inflation over the medium term) and a framework to achieve that target (how it thinks monetary policy affects the economy, and how it communicates policy decisions).
Australia’s cash rate is at a historical low of 1.5%. So if there’s any adverse shock to our economy (for example, a large correction in house prices), the RBA would have little room to reduce the cash rate before getting to 0% – the zero lower bound on nominal interest rates.
At that point, you can’t cut rates anymore. <a href="https://www.sciencedirect.com/science/article/pii/S0014292117301605" target="_blank">Research shows</a> economic shocks can have a more severe impact on economic activity when the policy rate is at, or near, zero.
Instead the RBA should be more explicit about the conditions that would lead to a rate change. <a href="https://www.chicagofed.org/publications/working-papers/2016/wp2016-07" target="_blank">Research shows</a> this has stimulated economic recovery before.
<h2>How rates work at the moment</h2>
To understand forward guidance it helps to understand conventional thinking about monetary policy. The RBA controls inflation by adjusting the cash rate, which is the interest rate on overnight loans in the interbank market.
Changes in the cash rate change longer-term interest rates in the economy. These then influence households’ and businesses’ spending and investment plans. These decisions also determine demand and inflation.
For example, suppose inflation is below target. A cut in the cash rate reduces longer-term interest rates, which encourages people to buy goods and services (falls in long-term deposit rates and government bonds reduce the incentive to save) and invest (commercial and mortgage loans are cheaper). Rising demand sends prices up, which brings inflation back to target.
As with other central banks around the world, the RBA also explains the rationale for its policy decisions. For example, in the <a href="http://www.rba.gov.au/publications/smp/" target="_blank">Statement of Monetary Policy</a>, released four times a year, the bank sets out its assessment of current domestic and international economic conditions, along with an outlook for Australian inflation and output growth.
The purpose of these announcements is to enhance the credibility of the inflation target. If people trust the RBA will implement policy to achieve the inflation target, they will make plans around what they spend and how they price goods and services based on this. This makes inflation easier to control.
<h2>How being clearer about rates helps</h2>
While the RBA might not be able to influence the current cash rate, it can still influence longer-term rates by making announcements about its future policy decisions. Long-term interest rates usually change depending on what people expect of future cash rate changes.
So if monetary policy can influence these expectations, it can move long-term rates.
Of course, words are cheap. To make these declarations credible the RBA would need to communicate its plans for the future cash-rate, with modelling and forecasts justifying those plans.
Economists could then judge whether the RBA is meeting its objective through good luck or good policy. If it’s through good policy, it enhances the RBA’s credibility and, in a virtuous circle, this gives the bank policy more influence over expectations.
A prominent example of forward guidance comes from the United States’ central bank, the Federal Reserve. In December 2008, when the federal funds rate (the US equivalent of the Australian cash rate) was first at the zero lower bound, the Federal Reserve <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20081216b.htm" target="_blank">announced</a>:
The committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.
Translated, the Fed anticipated keeping the federal funds rate at zero for a considerable time. This communication was meant to influence the public’s expectations about the future course of US monetary policy, and to have consumers and businesses expect an expansionary monetary policy for some time.
During the recovery, the Fed refined its communication strategy to become more explicit about the economic circumstances that would lead to a change in policy. For example, in June 2013, the committee that sets rates <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20121212a.htm">anticipated that</a>:
this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-½%.
This type of announcement gives people more information about the strategy the Fed will take with rates, rather than simply providing forecasts about what it expects future economic conditions to be like (which doesn’t need to have any information about policy strategy).
<a href="https://www.aeaweb.org/articles?id=10.1257/aer.104.10.3154" target="_blank">Recent evidence</a> confirms this had an impact on businesses’ expectations. Right after the June 2013 announcement by the Federal Reserve, there was an increase in the number of quarters until businesses expected the US policy rate to increase above 25 basis points.
<a href="https://images.theconversation.com/files/210482/original/file-20180315-104659-5fu59l.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/210482/original/file-20180315-104659-5fu59l.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
FOMC= Federal Open Market Committee (which sets rates) Swanson and Williams: the zero bound and interest rates, Author provided
<a href="https://www.chicagofed.org/publications/working-papers/2016/wp2016-07" target="_blank">Other research also</a> suggests forward guidance influenced private sector expectations and stimulated the economic recovery after the global financial crisis.
At the moment, the RBA doesn’t produce statements about future monetary policy and how this would change if the economic environment changed. But the bank could do this.
The RBA has the luxury to develop its communications policy during a time of economic calm, unlike the Federal Reserve, which was forced to experiment with new policies during the worst recession since the Great Depression.
<img src="https://counter.theconversation.com/content/93292/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">If the RBA waits until a future crisis, it would limit the power forward guidance could have in our economy.
<a href="https://theconversation.com/profiles/efrem-castelnuovo-145615" target="_blank">Efrem Castelnuovo</a>, Principal Research Fellow, Melbourne Institute of Applied Economic and Social Research, and Professor of Economics, Department of Economics, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>; <a href="https://theconversation.com/profiles/bruce-preston-452859">Bruce Preston</a>, Professor of Economics, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>, and <a href="https://theconversation.com/profiles/giovanni-pellegrino-452180" target="_blank">Giovanni Pellegrino</a>, Postdoctoral Research Fellow, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-the-rba-needs-to-talk-about-future-interest-rate-policy-93292" target="_blank">original article</a>.
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The RBA should be clearer about when it will change interest rates

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A South-eastern South Australian house on two acres has been listed for $399,000 by Robert Stell and Rebecca Stell from First National Real Estate.
<a href="https://www.realestate.com.au/property-house-sa-lewiston-127823770" target="_blank">Located at 9 Lawrie Road</a>, Lewiston, it comes with five bedrooms, separate lounge, open plan family and meals area and kitchen with walk-in pantry.
It also features rear verandah, single carport under main roof, garden shed and two horse shelters.
Set on just over two acres in the sought after area of Lewiston, it is within the Animal Husbandry zone.
It last sold at $147,000 in 1999.
 
 
 
 
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Lewiston, SA animal husbandry zone mortgagee offering

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The Victorian motoring organisation RACV has taken a stake in start-up website Landchecker.
RACV stake is 13.5 per cent. RACV invested $750,000 out of a total capital raise of $1.85 million.
Landchecker overlays zoning, geographical and development permit data over title boundaries.
It hopes the fresh capital will see it expand to include listings and price details on properties.
It seeks to create a product that it says will not only provide consumers details about a property they own or want to buy, but will allow a more accurate valuation of a site's worth.
"In the coming months, RACV and Landchecker will together launch a new initiative, Claim My Property, to give homeowners essential information," RACV chief executive Neil Taylor said. 
"It will allow them to register their ownership, receive property reports and monitor buyer interest. Those who sign up will also be alerted to any market updates and legislative changes that have the potential to impact the value of their property."
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The site kicked off two-and-a-half-years aho.
It was started by architects Will Leaf and Toby Ewart and developer Ed Farquharson.
It only covers properties in Victoria, but hopes to roll the service out to the most populous state within the next six months, Landchecker CEO Will Leaf told Fairfax Media.
Landchecker CEO, Will Leaf and RACV Managing Director and CEO, Neil Taylor (pictured above)
 
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Landchecker gets RACV backing

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Apartment developer Harry Triguboff, who turned 85 earlier this month, has secured an $80 million Zetland site.
It can accommodate 300 apartments.
The Australian reported the recent deal saw Meriton secure the council depot site at Epsom Road from the City of Sydney Council.
The 1.06ha site at 94 to 104 EpsomRoad has the potential to accommodate 12 levels of apartments, representing a rate of about $3050 per square metre of permissible gross floor area.
The site adjoins the $13 billion Green Square renewal project.
Delta Goodrem, according to The Daily Telegraph, was paid an $250,000 to sing at billionaire Harry Triguboff's 85th birthday earlier this month.
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Harry Triguboff celebrates his 85th birthday with $80 million Zetland acquisition

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The Australian Bureau of Statistics <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/5609.0Main%20Features1January%202018?opendocument&amp;tabname=Summary&amp;prodno=5609.0&amp;issue=January%202018&amp;num=&amp;view=" target="_blank">housing finance figures</a> released Tuesday reveal a modest increase in the total value of dwelling commitments, up an overall 0.7% for the month of January on a seasonally adjusted basis. The investor segment (up 1.1%) was stronger than owner-occupied housing (up 0.5%).
Yet the overall rise in value masked the fact that the number of dwellings purchased fell. Purchases of established dwellings was down 4.7% on the month, and new dwellings down 1.5%. 
On the other hand, construction of new dwellings was up 3.1%. Now we can’t tell too much by a single month’s data, but if those kind of numbers were part of a broader pattern then there would be reason to be concerned.
Banks have tightened their underwriting standards and the Australian Prudential Regulation Authority has cracked down on interest-only loans. So housing credit is harder to come by – although it’s still ridiculously easy to obtain. 
However, the construction sector works on a bit of a time lag. So there are a bunch of projects underway that were premised on the loose credit of recent years.
When they are finished there will be a lot of properties for sale and a relative paucity of buyers. That would have a price impact, spook potential buyers and their bankers further, and could lead to a sharp pullback in the construction sector. A sector which constitutes 8% of GDP and 9% of employment.
As the kids say, “sad face emoji”.
Now this scenario is not for certain. But it’s definitely something to keep and eye on in coming months.
The closely watched <a href="https://business.nab.com.au/nab-monthly-business-survey-february-2018-28876/" target="_blank">NAB Business Conditions Survey</a> hit all time highs in February. The business conditions index was up three points to 21 index points, the highest level since the monthly survey began in March 1997. Yet business confidence was down two points to nine.
NAB chief economist Alan Oster pinpointed the reason for the divergence in the two measures, saying:
The fall in confidence may reflect the turbulence seen in international financial markets in early February, but confidence remains above average, suggesting that the impact was relatively limited.
The survey also showed that forward orders were strong, rising from three index points to 11, which seems to bode well for future economic growth. It also confirmed the recent trend of strong employment growth, with 400,000 jobs added in 2017.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics and PLuS Alliance Fellow, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This Vital Signs column was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-five-economic-red-flags-to-watch-for-in-2018-87851" target="_blank">original article</a>.
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Pullback in construction sector could emerge: Richard Holden

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Enderby, a landmark 1903 home in Essendon, has sold after hitting the market in February.
It had $5.5 million to $6.05 million price hopes.
Enderby (above and below), located at <a href="https://www.realestate.com.au/sold/property-house-vic-essendon-127511994" target="_blank">1 Riverview Road</a>, was sold by Joe Zucco from McDonald Upton.
Its top seller status is quickly under threat as another home hits the market in the Melbourne suburb with expectations of up to $8.5 million (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/14/1%20riverview%20wood.jpg" alt="">
Enderby is a 1400sqm property with five bedroom home set in landscaped gardens by designer Michael La Fontaine.
The property last changed hands in 1989 for $945,000.
The suburb's prior top price was $4.53 million set only last year by the neighbouring <a href="https://www.realestate.com.au/sold/property-house-vic-essendon-126229782" target="_blank">3 Riverview Road</a>.
Enderby’s competition for the new Essendon benchmark is <a href="https://www.realestate.com.au/property-house-vic-essendon-127820838" target="_blank">41 Leslie Road </a>(below)<a href="https://www.realestate.com.au/property-house-vic-essendon-127820838" target="_blank"> </a>— a 1930s Tudor-style residence on the market with a $7.775 million to $8.5 million price guide through McDonald Upton.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/14/41%20lesile%20road.jpg" alt="">
The six-bedroom mansion sits on a 2168sq m block with a floodlit tennis court and pool which listing agent Simon Cookson said was heritage-protected.
The house (below) was designed by architect C Stewart Russell for a former Essendon mayor.
It last sold 18 years ago at $1.8 million.
Elsewhere in Essendon, the home of gangland matriarch Roberta Williams is set to be sold.
 
 
 
 
 
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Essendon's Enderby secures record price

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

Joel Robinson

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

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

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

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

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

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

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

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