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The $1 billion offering of one of Australia’s biggest agricultural empires, with 16 northern cattle stations, has begun.
The vast offering, which includes a herd of 400,000 cattle, is the Consolidated Pastoral Company empire.
The CPC cattle kingdom, once owned by the Packer media family, has been owned for the past nine years by Britain-based Terra Firma private equity group.
Around $1 billion is being sought for the stations that cover 5.5 million hectares in prized cattle country in the WA Kimberley, Northern Territory and Queensland.
Frenetic action around sale is being compared to the $386 million disposal of the much bigger, but less valuable, Kidman cattle and land empire two years ago.
But CPC chief executive Troy Setter told The Australian there was already keen interest from Australian bidders for the properties, which include Newcastle Waters in the NT
Ads, which are part of FIRB compliance, have been placed by Goldman Sachs which will oversee the sale, which is expected to take more than six months.
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j.ballantyne1990-6AQqhLzZaK

Terra Firma's $1 billion CPC cattle kingdom offering

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The general market in southern and western New South Wales continues to show strengthening signs, according to the latest HTW report.
"Generally we have seen the level of sales activity drop slightly, however this is a reflection of a lack of stock rather than a softening of market interest overall," the March 2018 update by the valuation firm advised.
In far western New South Wales, HTW valuer Scott Fuller noted new benchmark levels set in dollar per DSE rates achieved.
The sale of Berta Station which is a 43,500 hectare holding with a carrying capacity of 10,000 DSE located 120 kilometres south-west of Broken Hill on the South Australian border recently sold for $5.38 million which equates to $124 per hectare overall.
From a productive capacity basis this equates to $527 per DSE.
"These rates are generally seen in tablelands country in far higher rainfall areas," Fuller said.
"Like all market activity there are always outlying sales and it appears that this sale is one of those, however it does indicate the willingness of buyers in the current market to stretch the normal excepted boundaries in terms of a value perspective," he said. 
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Two examples of the level of strengthening included a recently visited, large mostly arable grazing property in the Cootamundra area which we last valued in June 2016. 
"Our current assessed value for the same property has risen by 26 percent over the 19 month period, with a number of solid large-scale sales to support this assessment. 
"This equates to 1.4% per month over 19 months which is quite phenomenal. 
"We have also revisited some larger grazing properties to the north-east of Broken Hill which were last valued in late 2014. 
"Our current assessment indicated a 28.8% rise in overall value which equates to 9% per annum - still a strong result."
Fuller advised when building a business plan for a rural purchase at present, it would be prudent not to allow for any capital growth in the short to medium term as this same situation occurred back in 2008.
"Our experience then indicated that generally the market in New South Wales peaked in late 2008 and general value levels softened slightly and then were steady for a number of years.
"There were a number of corporate purchases made at this time and our relationship with these assets over the ensuing years showed that the original value levels were not reached again for approximately six to seven years.
"While we are not saying that the market will perform exactly the same, it does have a history of repeating and our expectations are that a similar scenario will result over the coming 12 to 18 months.
"The difference in 2018 is that our interest rates are at record lows and are still encouraging investment from within the industry, so we may just see the golden period continue for a bit longer yet!"
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Far west NSW rural prices matching tablelands country: HTW

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Former Cronulla Sharks star James Maloney has been a mover over summer. Now signed with Penrith Panthers, the star five-eighth has bought at Glenmore Park.
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He and wife Jessica Anderson, who have two children, have settled on a $1,265,000 home, just 10km south of his new training ground.
It is in the same suburb that fellow Panther James Tamou bought when he moved his family down from North Queensland.
The marketing through The Property Company Penrith selling agents Adam and Danii Leatherbarrow described the street as “one of the area’s best cul-de-sacs”.
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<div class="image-wrapper"><img src="http://cdn.newsapi.com.au/image/v1/544b5ad7d3b8faa38075014aca932597" alt="Room for the whole family here." width="650" height="488"></div>
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Set on 615sqm, the architecturally designed entertainer has five bedrooms, three bathrooms and a study.
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A covered alfresco area overlooks the swimming pool, while there are two separate living areas either side of the central kitchen.
Maloney, who had a stellar debut in the trial game last week against the Roosters, has leased the family’s five-bedroom Maroubra home.
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<div class="image-wrapper"><img src="http://cdn.newsapi.com.au/image/v1/69b18f5e47e7583b33e05deec6eb99b2" alt="Great for cooling off after training." width="650" height="488"></div>
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<div class="image-wrapper">Earlier this year Maloney, who traded places with Panthers young gun Matt Moylan, also scored $500,000 from the sale of his former home in Pelican, near Lake Macquarie.</div>
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The home, Maloney’s first, had a guide of $490,000 to $538,000 through First National Blacksmiths agent Andrew McGrath. Maloney had paid $295,000 for the home more than a decade ago when he was a 21-year-old playing for Parramatta Eels reserve grade.
Maloney failed to break into the first team, prompting his move to Melbourne, where he kicked off his NRL career. 
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There’s been no purchase yet for Moylan nearer his new club, after leasing his former home — a Gledswood Hills house near Camden.
He paid $575,000 for the home in 2016 but settlement of the newly built three-bedroom townhouse has only just revealed the star fullback as the purchaser.
Moylan also owns an apartment at St Clair in Penrith heartland.
This article was first published in the Saturday Daily Telegraph.
 
 
 
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James Maloney buys in Panther heartland

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Banana growers in north Queensland affected by Panama disease are encouraged to contact their bank to access a range of hardship measures on offer. 
Australian Banking Association CEO Anna Bligh said banks understood the challenges facing growers in the region because of the new outbreak of the disease and were on hand to help. 
“This is a challenging time for banana growers in north Queensland who are contending with the effects of the Panama disease or the threat of it,” Ms Bligh said.
“An outbreak, or threat of outbreak, can have a significant impact on income and cashflow, causing heavy financial strain on farmers. 
“We strongly encourage farmers who are concerned about their financial situation to contact their bank as early as possible to access the many forms of assistance available.
“Banks understand that agriculture can be heavily impacted by weather and seasons therefore can be flexible where needed to help customers in need,” she said.
Over the past few months Australia’s major banks have met with representatives from the Queensland Government and the banana industry about the effects of Panama disease.
The type of assistance offered will depend on individual circumstances, but may include a deferral of scheduled loan repayments, waiving fees and charges, interest free periods or no interest rate increases; and debt consolidation to help make repayments more manageable.
Find out the contact details of your bank’s financial hardship team <a id="m_2170294376519089879LPlnk518030" href="https://www.ausbanking.org.au/images/uploads/ArticleDocuments/206/Banks%20hardship%20contacts%20Jan%202016.pdf" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.ausbanking.org.au/images/uploads/ArticleDocuments/206/Banks%2520hardship%2520contacts%2520Jan%25202016.pdf&amp;source=gmail&amp;ust=1519947570499000&amp;usg=AFQjCNH89cc-F2BIrugqnxfiqrn0N6B11g">here</a>.  
 
 
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Support from banks for Panama disease affected banana growers

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The Churches of Christ has offloaded a major corner site in Glen Iris for $9.5 million, demonstrating the ongoing demand for boutique development sites in Melbourne’s east. 
A Chinese developer was the buyer of <a href="https://www.commercialrealestate.com.au/property/1536-1542-malvern-road-glen-iris-vic-3146-2014139482" target="_blank">1536 Malvern Road</a>, a 1,850 sqm corner site close to Burke Road.
The luxury apartment development site was sold by Savills Australia’s Clinton Baxter, Jesse Radisich, Nick Peden and Benson Zhou.
“The sale price reflects a land rate of $5,135 per sqm, which is a huge result for a site of this nature,” Mr Baxter said.
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Mr Baxter said 2018 had commenced with “a clear sense of optimism and confidence” throughout the development market. 
“The sale campaign generated widespread interest and a 50/50 split of local and Chinese buyers,” he said.
“We received 12 separate bids which ultimately resulted in the sale price of $9.5million – well in excess of the $8 million expectations.”
Baxter said that despite media reports of a withdrawal of Chinese money from Melbourne’s commercial property market, Savills was witnessing the opposite.
“That has not been the case for us at all,” he said.
“We are actually experiencing a surge in Chinese interest in the sub-$20million price range right across the market.”
Peden said that with “interest rates effectively on hold for most or all of 2018”, the market was likely to accelerate as the year unfolded and buyer confidence continued to grow.
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Chinese buyer swoops on Glen Iris church

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In a radically unsurprising decision on Tuesday the Reserve Bank of Australia left official interest rates unchanged at 1.5%.
<a href="https://www.rba.gov.au/media-releases/2018/mr-18-05" target="_blank">In their announcement</a> there was plenty of what amounts to copy-and-paste from previous rate decisions.
For instance:
“Employment grew strongly over the past year and the unemployment rate declined… Notwithstanding the improving labour market, wage growth remains low. This is likely to continue for a while yet, although the stronger economy should see some lift in wage growth over time.”
And on inflation it’s still low with the consumer price index (CPI) and underlying inflation (inflationary pressures in the economy that are predominantly due to market forces like supply and demand), below 2%.
<iframe src="https://datawrapper.dwcdn.net/5TxE0/3/" frameborder="0" scrolling="no" width="100%" height="449"></iframe>These are the key factors that make raising rates unlikely. Indeed, perhaps the only thing preventing a cut in rates is the fear of a housing bubble.
On that front the RBA seemed to report progress, saying:
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“[the Australian Prudential Regulation Authority] APRA’s supervisory measures and tighter credit standards have been helpful in containing the build-up of risk in household balance sheets, although the level of household debt remains high.”
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Little wonder that markets are not predicting an increase in rates this year.
On the labour market front, <a href="http://www.media.anz.com/phoenix.zhtml?c=248677&amp;p=irol-jobad&amp;nyo=0" target="_blank">the ANZ job advertisements survey</a> revealed that the strong growth in ads from previous months was largely maintained. Although for the month of February ads were down 0.3%, the robust growth in previous months means that ads are still up 13.3% on the previous 12 month period. It seems that the strong employment growth from last year is set to continue, but there is still no real sign of this translating into wage growth.
The global puzzle of why employment growth is strong while wages growth is weak endures. And, as the RBA comments reveal, it is weighing on the minds of central bankers.
The volatile <a href="http://www.abs.gov.au/ausstats/abs@.nsf/latestProducts/8731.0Media%20Release1Jan%202018?OpenDocument" target="_blank">building approval data</a> jumped around again in January, with approvals up 17.1% in January, following a 20% fall in December. Approvals for apartments jumped a massive 42.2% in January. That’s an interesting figure for two reasons.
The strong growth in supply of apartments is one factor that is (slowly) helping housing affordability. In cities like Sydney, with geographic constraints on all sides, the only place to go is up in terms of building new dwellings.
And less happily, sharp increases in supply are typically how bubbles burst. An important question is who is going to buy all these new apartments, and how speculative are those purchases.
There is scant evidence on this point, but <a href="http://www.news.com.au/finance/real-estate/flipping-properties-to-be-debt-free/news-story/6a426435d073784bd0b10d1798be7ff5" target="_blank">plenty of anecdotal fears</a> about people purchasing off the plan with significant leverage in the hope of flipping at a quick profit. The apartment market is a key indicator to watch in 2018.
<a href="http://www.abs.gov.au/ausstats/abs@.nsf/latestProducts/5206.0Media%20Release1Dec%202017?OpenDocument" target="_blank">National accounts data</a> showed the Australian economy grew at the same rate in 2017 as is did in 2016, with GDP growth coming in at 2.4%. This points to one of the big, unresolved macreconomic questions of our time.
Is the “new normal” for economic growth something like 2% ? (This would put GDP growth per capita well below that.) Or was the great recession a damaging and long, but ultimately a temporary lull, and that we will return to 3%-plus growth sooner or later. I have consistently said I think its the former, but again it is too early to tell.
<a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/5368.0?OpenDocument">International trade data</a> released Thursday showed Australia’s trade balance at A$1.1 billion, up slightly from the previous month.
Speaking of trade, the biggest economic news of recent weeks was <a href="https://theconversation.com/americas-allies-will-bear-the-brunt-of-trumps-trade-protectionism-92735" target="_blank">the Trump administration’s announcement</a> that it would impose significant steel and aluminium tariffs (25% and 10% respectively). This has the potential to trigger a global trade war and tank economies around the world, although such a cataclysm is a fair way off yet.
Make no mistake, this is terrible policy. The worry is that its not just another cunning and cynical move by Trump, but that he actually believes in it. He has railed against trade deficits for 20 years, revealing the poverty of his understanding of economics.
<img src="https://counter.theconversation.com/content/92829/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">For now its wait-and-see, but the fact that National Economic Council director Gary Cohn resigned in the wage of the announcement suggests that Trump might not flip-flop on this issue - and that there is more bad news to come.
<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 article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-the-one-thing-holding-back-an-rba-rate-cut-92829" target="_blank">original article</a>.
Vital Signs is a weekly economic wrap from UNSW economics professor and Harvard PhD Richard Holden (<a href="https://twitter.com/profholden" target="_blank">@profholden</a>).
Vital Signs aims to contextualise weekly economic events and cut through the noise of the data affecting global economies.
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The one thing holding back an RBA rate cut: Richard Holden

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A Hong Kong based private investor has paid $6.48 million on a tight 4.7 per cent yield for Lawson Arcade, a prized retail asset in the heart of Byron Bay, one of Australia’s most popular beach resorts.
Teska Carson Director Michael Ludski, who brokered the deal with Byron Bay Property Sales’ Kath Vaubell, said the fully let property attracted 100 enquiries predominantly from Melbourne, Sydney and off-shore, with nine formal offers lodged.
Ludski said investors had recognised the tremendous growth potential in one of Australia’s most popular beach resorts and the limited retail space available in the town.  
He said Byron Bay’s popularity, attracting high levels of tourists – currently more than 2 million a year -  and new residents, was a key factor.
"These resident and tourist numbers continue to provide significant returns and excellent growth potential underpinning local businesses,’’ Mr Ludski said.
The <a href="https://www.realcommercial.com.au/property-retail-nsw-byron+bay-502693282" target="_blank">17 Lawson Street</a> property comprises a modern, double storey, brick building of 594 square metres (GLA) comprising three shops, two restaurants and four office suites with a central arcade providing pedestrian access to the rear shops and car parking on an 866 square metre site.
The arcade had recently undergone a $250,000 refurbishment.
The property was sold fully let at a gross annual income of approximately $465,000.
 
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Hong Kong purchaser pays $6.48m for Byron's Lawson Arcade

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Restrictive zoning contributes about 40% to the price of houses in Sydney and Melbourne, according to <a href="https://www.rba.gov.au/publications/rdp/2018/pdf/rdp2018-03.pdf" target="_blank">new research from the Reserve Bank of Australia</a>. The study looked at zoning restrictions, such as minimum lot sizes and maximum building heights, which affect what kind of housing can be built, and where.
Of course, zoning and planning rules <a href="https://www.pc.gov.au/inquiries/completed/productivity-review/report/productivity-review-supporting10.pdf" target="_blank">play an important role</a> in managing the growth of cities and protecting the character of particular neighbourhoods. But as Australia confronts a housing affordability crisis, the question is whether the costs of our planning rules outweigh the benefits.
Zoning restrictions added A$489,000 to the price of a detached house in Sydney in 2016, according to <a href="https://www.rba.gov.au/publications/rdp/2018/pdf/rdp2018-03.pdf" target="_blank">the research</a> by RBA economists Ross Kendall and Peter Tulip. The figure was A$324,000 in Melbourne, A$159,000 in Brisbane, and A$206,000 in Perth.
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The RBA research refers to the impact of zoning restrictions on house prices as the “zoning effect”. This can be thought of as the price a developer would be willing to pay for permission to build a home on a given plot of land, if the rules allowed them to.
Within Sydney, the zoning effect is largest in northern councils such as Willoughby and the Northern Beaches; in Melbourne it’s in inner and eastern councils, including Boroondara and Stonnington.
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Sydney zoning effect estimate by local government area. Figures are an average from 2016, A$‘000s. ABS; Authors’ calculations; CoreLogic
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Melbourne zoning effect estimate by local government area. Figures are an average from 2016, A$‘000s. ABS Authors’ calculations; CoreLogic
The impact is not restricted to houses. The zoning effect added about A$400,000 to the price of an average apartment in Sydney in 2016. For apartments in Melbourne and Brisbane, the extra cost was more than A$100,000.
By contrast, the RBA economists find that zoning rules added relatively little to the cost of housing in Australia 15 years ago. As demand for housing has increased, the zoning effect as a share of the price of housing has increased.
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The RBA research adds to international studies on the costs of zoning rules.
A <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/26297967?seq=1#page_scan_tab_contents" target="_blank">study in the United States</a> found the prices of existing homes vastly exceed the cost of building new housing in a handful of coastal cities with the most restrictive planning rules, such as San Francisco, Los Angeles, New York and Boston.
<a href="http://onlinelibrary.wiley.com/doi/10.1111/ecoj.12213/abstract" target="_blank">Another study</a> found that house prices in the south-east of the United Kingdom would be 35% lower if as many planning permits were issued as in the north-east. And a <a href="http://www.superu.govt.nz/sites/default/files/Impact%20of%20land%20use%20report%20110717.pdf" target="_blank">study in New Zealand last year</a> also found that land use regulation accounts for a large share of the cost of homes in major cities, particularly Auckland and Wellington.
The RBA research does not measure the benefits of zoning restrictions in Australia, but overseas studies generally conclude that the local benefits of current planning rules (such as protecting the character of particular neighbourhoods) are not nearly large enough to justify the costs.
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<h2>Increasing supply will make the biggest difference to affordability in the long run</h2>
The new RBA research confirms that planning rules have pushed up the price of housing by restricting the number of new homes built at a time of strong demand. <a href="https://theconversation.com/how-migration-affects-housing-affordability-92502">Our own research</a> shows that for much of the decade from 2005 to 2014, annual housing construction was at or lower than the average of the previous 25 years, even though population growth was much higher.
We estimate that if an extra 50,000 homes were built each year for the next decade, national house prices could be between 5% and 20% lower than they would be otherwise. And building more homes will improve housing affordability for everyone, not just those who purchase new houses.
All levels of government in Australia need to build the public case for increased density. State and local governments should change planning rules to allow more medium-density housing in established suburbs that are close to jobs and transport.
State governments should allow denser development along key transport corridors, with height limits set-up front. State governments should also use carrots and sticks to ensure local councils help meet the housing needs of our growing cities.
When councils fail to meet housing targets, independent planning panels should be given power to assess development applications, as is increasingly occurring in Sydney.
<img src="https://counter.theconversation.com/content/93064/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Housing affordability is a big problem. The RBA’s findings show that reforming planning rules is a big part of the solution.
<a href="https://theconversation.com/profiles/john-daley-1870" target="_blank">John Daley</a>, Chief Executive Officer, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>; <a href="https://theconversation.com/profiles/brendan-coates-154644" target="_blank">Brendan Coates</a>, Fellow, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/trent-wiltshire-316914" target="_blank">Trent Wiltshire</a>, Associate, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/rba-research-shows-that-zoning-restrictions-are-driving-up-housing-prices-93064" target="_blank">original article</a>.
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Zoning restrictions are driving house prices up: Grattan Institute

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Dahua Group Australia has launched its Westwood residential community in Melbourne’s fast growing Plumpton. 
The suburb was recently renamed as Fraser Rise.
Westwood provides an affordable and aspirational lifestyle offering with latest stage release price from $258,000.
Hugh Lu, Development Manager for Westwood says there was a positive response with stage one selling out over a weekend.
Situated 30km north-west of the CBD, Plumpton is a family-focused community with a population of 153,120, which is projected to reach 381,987 by 2040.
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Westwood, Dahua’s residential community, is located at 235 Beattys Road, Plumpton. 
It will consist of over 1,400 land lots that will be sold in 24 stages. 
Stage one’s 20 land lots sold out at launch weekend to local purchasers. 
Westwood includes a parkland spine (The Walk) with interconnecting parks designed by Spiire Landscape Architects, sporting ovals, and council community centre. Construction is expected to commence in May 2018.
 
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Dahua Group's Westwood sells out first release 

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John McGrath, the McGrath Estate Agents founder, has slammed Harry Dent’s forecasts on Australian property.
In a column published in Switzer Daily, McGrath noted Dent was echoing Australian housing bubble predictions he made in 2014 and 2011, despite them being proved wrong.
McGrath criticised Dent for failing to account for the “ingenuity of Australians, not to mention our long-embedded culture”.
Dent admitted, in a Channel 9 interview and one to <a href="/expert-insights/investing/80453-harry-dent-repeats-bubble-forecast-for-sydney" target="_blank">the Daily Telegraph</a>, that his predictions in previous years had been off the mark but maintained Australian property was in a bubble that would inevitably burst.
McGrath said Dent lacked an understanding of the local housing market, typical of overseas commentators who did not understand the local housing market.
“I can understand why Dent would look at Sydney, in particular, and think it’s overvalued.
"That’s how it might look on paper to an analyst who doesn’t understand how things work here,” <a href="http://www.switzer.com.au/the-experts/john-mcgrath-property-expert" target="_blank">McGrath wrote</a>. 
"Good quality Australian real estate, held over the long term, is one of the safest and most reliable asset classes you’ll find anywhere in the world.
“He fails to take into account all the unique factors that have kept our property prices growing while also protecting our market from collapse.”
Strong population growth was not the only reason the market weathered the GFC relatively unscathed, according to McGrath. 
High levels of prudential oversight in the local banking system and the high concentration of Australia’s total population living in Sydney and Melbourne ensured steady demand for housing, despite high prices, he said.
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Dent’s forecasts also failed to account for issues such as Sydney’s geography, which has encouraged a housing undersupply, McGrath said.
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“When you’re having a growing population that is very concentrated around a small group of cities — and two in particular, you’re going to have much greater stability in home values no matter how high prices go,” he said.
“Additionally, in major growing cities like Sydney where urban sprawl has gone about as far as it can, we now have a chronic undersupply of new housing that is also serving as a strong foundation for ongoing growth.
“On top of this, we have low unemployment, a strong and resilient economy, low interest rates, a tax system that rewards property investment and a growing market of international buyers.”
 
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John McGrath says Harry Dent doesn't get it on Sydney housing

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."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

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

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

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

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

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The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Lowe Living launches Jardin House in Camberwell

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

Staff reporter

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