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Data released by SQM Research calculates the national residential vacancy rate fell to 2.3% in January 2018, with the number of vacancies Australia-wide falling to 74,113, down from 2.5% in December 2017, as renters secured homes for the start of the new year. 
In the big cities, Melbourne’s vacancy rate dropped to 1.8% from 2.1% while Sydney’s dropped to 2.3% from 2.6%. But that vacancy rate is still up from 1.9% a year earlier, reflecting slightly easier rental conditions in Sydney. The vacancy rate dropped in Canberra to 0.9% down from 1.3% in December.
Hobart's vacancy rate hovered just above a record low at 0.4%, reflecting a severe shortage of rental properties in that city.
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<td>
City
</td>
<td>
January 2017 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
December 2017 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
January 2018 Vacancies
</td>
<td>
Vacancy Rate
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
3,375 
</td>
<td>
1.9%
</td>
<td>
2,772 
</td>
<td>
1.5%
</td>
<td>
2,793 
</td>
<td>
1.5%
</td>
</tr>
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<td>
Perth
</td>
<td>
9,953 
</td>
<td>
5.1%
</td>
<td>
9,264 
</td>
<td>
4.6%
</td>
<td>
8,909 
</td>
<td>
4.4%
</td>
</tr>
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<td>
Melbourne
</td>
<td>
10,170 
</td>
<td>
1.9%
</td>
<td>
11,478 
</td>
<td>
2.1%
</td>
<td>
9,744 
</td>
<td>
1.8%
</td>
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<td>
Brisbane
</td>
<td>
11,314 
</td>
<td>
3.6%
</td>
<td>
12,240 
</td>
<td>
3.8%
</td>
<td>
11,505 
</td>
<td>
3.6%
</td>
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<td>
Canberra
</td>
<td>
621 
</td>
<td>
1.0%
</td>
<td>
807 
</td>
<td>
1.3%
</td>
<td>
569 
</td>
<td>
0.9%
</td>
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<td>
Sydney
</td>
<td>
12,228 
</td>
<td>
1.9%
</td>
<td>
17,404 
</td>
<td>
2.6%
</td>
<td>
15,775 
</td>
<td>
2.3%
</td>
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<td>
Darwin
</td>
<td>
1,086 
</td>
<td>
3.7%
</td>
<td>
1,035 
</td>
<td>
3.5%
</td>
<td>
941 
</td>
<td>
3.1%
</td>
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<td>
Hobart
</td>
<td>
186 
</td>
<td>
0.6%
</td>
<td>
96 
</td>
<td>
0.3%
</td>
<td>
126 
</td>
<td>
0.4%
</td>
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<td>
National
</td>
<td>
78,364 
</td>
<td>
2.5%
</td>
<td>
80,092 
</td>
<td>
2.5%
</td>
<td>
74,113 
</td>
<td>
2.3%
</td>
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Elsewhere, the vacancy dropped in Perth to 4.4% from 4.6% in December, but it is still the highest of any capital city. Darwin’s vacancy rate fell to 3.1% from 3.5% over the month as the surplus of rental properties eases in that city.
Managing Director of SQM Research, Louis Christopher, said the vacancy numbers highlighted tighter rental markets in most capital cities, which was to be expected in the first month of the year as renters found new rental homes. 
 “We’ve seen falls across all cities, as students prepare for their first semester of study and lease new homes, and workers also secure new rentals, especially in Canberra which has a transient workforce and Sydney too. We are seeing very tight rental conditions in Hobart, which is putting strong upward pressure on rents. 
“While Sydney’s vacancy rate has dropped, it is still well up on levels this time last year. If the vacancy rate holds at this level in coming months, Sydney will be more of a tenant’s market in 2018 and rental growth could continue to ease,” Christopher said.
Capital city asking rents over the month to 20 February 2018 rose 0.2% to $562 a week for houses. Unit asking rents rose 0.5% to $443 a week. Over the year, asking house rents rose by 1.3% while asking rents for units increased by 2.8%. 
Reflecting a shortage of rental properties, asking rents rose the most in Hobart over the month, by 5.1% and 5.3% for houses and units, respectively. 
The asking rent for a three-bedroom house in Sydney remains the highest in the nation at $745 a week while for units it stands at $525. Canberra follows at $616 a week for houses and $436 for units. Asking rents for houses rose in Melbourne by 0.4% over the month to $528 while unit asking rents rose 1.2% over the month to $402 a week.
<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/2018/2/20/sqm.jpg" alt="">
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties. 
New reiwa.com data suggests Perth’s rental market has stabilised. 
REIWA President Hayden Groves said results for the December 2017 quarter suggests Perth’s rental market officially found its floor in 2017. 
“After a prolonged period of falling rents, soaring listings and record high vacancy rates, the market has strengthened. The December 2017 quarter results signal a stable market, which is welcome news for landlords and property investors,” Mr Groves said. 
Perth’s overall median rent price remained at $350 per week during the December 2017 quarter. 
Mr Groves said this was the third consecutive quarter Perth’s median rent price has held at $350 per week. 
“Perth’s median rent stabilised considerably in 2017. Where rents were once declining every quarter, we’ve now observed nine months of steady prices,” Mr Groves said. 
On an annual basis, reiwa.com data shows the median rent declined $10 per week. 
“Although there was a small decline between the December 2017 and December 2016 quarters, this is still a significant improvement on the year prior when Perth’s overall median rent declined $40 per week between the December 2016 quarter and the December 2015 quarter.
"Annually, the rate of decline has slowed considerably which is pleasing,” Mr Groves said. 
While the overall median rent price is stable, reiwa.com data shows a number of suburbs saw an improvement in rent prices over the quarter. 
“The top five suburbs for median rent price growth in the December 2017 quarter were Mindarie ($565 per week), Attadale ($455 per week), Bicton ($370 per week), Shelley ($430 per week) and Shoalwater ($295 per week),” Mr Groves said.
There were 13,555 rental properties leased in the December 2017 quarter. 
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“Despite the traditional lull of the festive season, leasing activity only declined 1.6 per cent during the December 2017 quarter. Tenants remain very active and it’s good to see that leasing activity hold up well throughout the holiday season,” Mr Groves said. 
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Madeley, Kingsley, Inglewood, Piara Waters and Cooloongup had the biggest improvement in leasing activity volumes in the December 2017 quarter. 
There were 8,912 properties for rent in Perth at the end of the December 2017 quarter. Mr Groves said rental listings in Perth have declined substantially since their peak of 11,300 in 2016.
“Listings have declined 8.4 per cent on a quarterly basis and are down 13.9 per cent compared to the December 2016 quarter. 
“These considerable declines are likely due to new dwelling commencements slowing which has resulted in stock being soaked up. Another contributing factor is the improvement in population growth into the state, which lifted to 0.84 per cent in the year to June 2017. The rental market is generally the first place to feel the effect of population growth, as new entrants into the state soak up rental stock first,” Mr Groves said. 
Average leasing days 
It took 49 days on average to find a tenant in the December quarter - five days faster than it did in the September 2017 quarter. 
Mr Groves said average leasing days had also improved by three days compared to the December 2016 quarter. 
“Healthy leasing activity and declining listings has increased demand, which means tenants are needing to act faster to secure a rental. It also shows landlords are listening to the advice of their property managers and pricing their properties competitively from the start,” Mr Groves said. 
Perth’s December 2017 quarter vacancy rate is 5.5 per cent - the lowest level since the September 2015 quarter. 
Perth’s vacancy rate is the lowest it has been in more than two years. It is now down from 6.9 per cent in the September 2017 quarter and from 6.4 per in the December 2016 quarter, which is significant” Mr Groves said. 
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j.ballantyne1990-6AQqhLzZaK

Perth has highest rental vacancy rate at 4.4%, but down from 5.1% a year ago last January

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The National Capital Authority is seeking expressions of interest for the sale of The Lobby restaurant.
The Canberra landmark has been closed for more than a year.
The authority said it would ensure that its heritage values are protected after the sale, NCA chief planner Andrew Smith said.
"Once sold, the NCA and the Commonwealth will remain committed to protecting and preserving the heritage values of The Lobby as well as the Commonwealth Heritage listed landscape which it forms part of," the authority's chief planner, Andrew Smith, said in a statement.
<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/2018/2/21/lobby2.jpg" alt="">
Development of The Lobby would need parliamentary approval.
Smith expects that The Lobby be a hospitality venue, remaining as a restaurant or possibly becoming a bar or cafe.
The restaurant opened in 1968, mostly for politicians who wanted somewhere to dine near Old Parliament House.
The tender process is through Civium Property Group until March 15.
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The Lobby, Canberra for sale

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A long-term lease has become available for the heritage Bridge Hotel building in Werribee.
Rick Berry and Stuart Kennett of Fitzroys are handling the campaign, closing March 21, on behalf of Wyndham City Council.
The two-storey Art Deco heritage building was built in 1926.
It comprises five main ground-floor bar and function areas across 602 square metres and 10 first-floor rooms over 186 square metres.
A 40 year-lease of two 20-year terms is available.
It is next to the newly constructed West End Car Park that provides 200 free public parking spaces.
Werribee has been further enhanced by the $275 million Wyndham Harbour marina and ecologically sustainable residential community project.
The development of four Catalyst Sites at Riverbend, Gateway and Cherry Street will bring to the Werribee City Centre $250 million of private investment, 600 new jobs, 700 new apartment residents, 100 serviced apartments to accommodate visitors, 1,400 new public and private parking spaces, 150 room Holiday Inn hotel, and a new Werribee Library and Integrated Community Learning Hub of more than 8,000 square metres. 
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Bridge Hotel, Werribee available for long-term lease

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Quest Apartment Hotels has reopened its doors in Toowoomba, following nine months of restoration work.
The hotel was damaged by fire last June, after a blaze broke out at an adjacent property. 
Building owner FKG commenced the $5 million restoration works after the blaze, replacing soft furnishings, broken windows and glass, electrical, plumbing and wiring along with fresh paint and carpet throughout, after smoke and heat ravaged the entire eastern face of the hotel.
Quest Toowoomba franchisee, Cynthia Rice has been with Quest since 2003.
“The former Church of Christ building is of significant cultural value to the local community, representing part of Toowoomba’s history, while having a wonderful aesthetic. We couldn’t be happier to have restored the property back to its former glory,” she said.
Located at 133 Margaret Street, the property features 74 apartments in total – a combination of studio apartments with kitchenettes, along with one, two and three bedroom apartments with kitchen and laundry facilities and a separate living/dining area. 
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Quest Toowoomba officially reopens its doors

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A retail investment on Brunswick Street, Fitzroy has sold at a floor rate of $15,260 per square metre.
Fitzroys agents Ervin Niyaz and David Bourke negotiated the $1.45 million sale.
The sale of 360A Brunswick Street was at a 5.3% yield.
The fully self-contained ground floor premises of 95 square metres sold with a new 5+5-year lease to convenience store Select 7, returning $77,000 per annum plus outgoings.
Bourke said the boom in medium and high-density development had grown the immediate catchment and attracted more young professionals to the archetypal stylish inner-north location.
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Brunswick Street retail investment sells at 5.3% yield

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Abbotsford’s The Retreat Hotel, best known for featuring in The Sullivans television series, will go under the hammer March 2.
It is expected to fetch over $2.5 million.
The historic pub at 226 Nicholson Street is being sold as freehold vacant possession by the Fermanis family.
CBRE’s Will Connolly and Scott Callow suggest The Retreat Hotel is one of the most affordable freehold pub opportunities currently available.
Built in 1915, the federation styled two-storey pub is situated on a 308 square metre corner block.
It has heritage overlay restrictions. 
CBRE recently sold the freehold investment in The Montague Hotel on a tight sub 4.5% yield. The property was sold off market, with CBRE acting on behalf of the Fermanis family.
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Historic Abbotsford hotel, The Retreat listed

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An Elanora four bedroom house has been sold by mortgagees for $290,000.
It was marketed as "perfect for the builder, developer or owner occupier".
It was sold by Neil Trewin and Dean Trewin from Frist National Real Estate.
The house is partly finished on a 938 square metre block of land.
<a href="https://www.realestate.com.au/sold/property-house-qld-elanora-127009506" target="_blank">Located at 36 Boab Street</a><a href="https://www.realestate.com.au/sold/property-house-qld-elanora-127009506" target="_blank">,</a> the house is close to shops and schools, five minutes to the Gold Coast's beaches and 10 minutes to Coolangatta Airport.
According to CoreLogic, the suburb's median house price sits on $655,000.
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Half-built Elanora, Gold Coast house sold by mortgagee

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A Malvern five bedroom trophy home has been listed for sale by RT Edgar.
The auction has been scheduled for March 17.
The renovated 1930s family residence blends many original features with a contemporary extension.
It features large main rooms, north-west facing rear garden with in-ground pool and spa and double lock up garage.
<a href="https://www.realestate.com.au/property-house-vic-malvern-127574522" target="_blank">The 13 Wilks Avenue home </a>also comes with two formal lounges, separate dining and kitchen, and study.
According to CoreLogic, the suburb's median house price sits on $2.5 million.
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1930s Malvern trophy home listed

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Erskineville ranks first when it comes to the biggest stock for sale increase in NSW.
Investar suggests that the stock growth is up to 21%, from 18 units this time last year to its current 56 offerings.
A two-bedroom apartment<a href="https://www.realestate.com.au/property-apartment-nsw-erskineville-126108662"> </a>(pictured below) currently on the market is a Mitchell Road offering which is priced at $839,500.
<a href="https://www.realestate.com.au/property-apartment-nsw-erskineville-126108662" target="_blank">The 11303/177-219 Mitchell Road</a> apartment was recently renovated.
<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/2018/2/12/Erskineville.jpg" alt="">
City transport and Newtown's entertainment precinct are within short walking distance. 
Another two-bedroom apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-erskineville-126838926" target="_blank">177 Mitchell Road</a> sold at $829,000 last year.
A one-bedroom unit at<a href="https://www.realestate.com.au/property-apartment-nsw-erskineville-423036538"> 177-219 Mitchell Road </a>(below) for rent is priced at $620 per week. 
<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/2018/1/31/erskineville%203.jpg" alt="">
Investar put its median rental at $625 a week.
According to CoreLogic, the median unit price sits on $855,000.
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Erskineville sees big jump in apartment stock levels

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A Toorak home on the corner of two of Melbourne's most expensive streets has hit the market.
The <a href="https://www.realestate.com.au/property-house-vic-toorak-126716050" target="_blank">grand manor, built in the 1930's,</a> has $13 million to $14.3 million hopes.
Hidden away from the street behind green walls, the vine draped, European-style home was purpose built to entertain.
The grand entrance foyer with marble tiling leads through to the formal sitting and dining rooms with marble surround fireplace.
<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/2018/2/8/orrong2.jpg" alt="">
A refined private study overlooks the front garden.
Up the curved staircase there's three bedrooms. The large master retreat has a marble ensuite and dressing room.
In the 1995 sqm established gardens there's a tennis court, swimming pool and heated spa.
The gardens are overlooked by an alfresco dining terrace.
Marshall White agents Marcus Chiminello and Nicole French are marketing the Orrong Road home.
  
 
 
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1930s Orrong Road, Toorak home with $13 million plus hopes

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

Joel Robinson

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

Perth development giant Finbar Group has completed its acquisition of the prominent 236 Railway Parade site in West Leederville, a year after first flagging plans for the transit-oriented development that will become its next major apartment project in Perth's inner west.

The ASX-listed apartment developer has secured the 4,997 sqm mixed use-zoned landholding opposite West Leederville Train Station for around $15 million, paving the way for the proposed Rosslyn Quarter development. The project is expected to deliver <a href="https://www.apartments.com.au/new-apartments/236-railway-parade-west-leederville-wa-6007">around 240 apartments across two towers</a>, alongside ground-floor commercial space.

The acquisition effectively concludes a process that began in mid-2025 when Finbar announced it had entered into a contract to purchase the site, subject to development approval and the finalisation of planning settings under the West Leederville Precinct Structure Plan. At that time, the company outlined plans for a pair of 18-storey towers with an estimated end value of around $200 million.

The site sits within the emerging Rosslyn Quarter precinct, approximately two kilometres from the Perth CBD and directly opposite the West Leederville Train Station. The location also places future residents within walking distance of the West Leederville Shopping Centre, Leederville's hospitality strip, and the neighbouring Subiaco activity centre.

Finbar CEO Ronald Chan said the acquisition builds on the developer's previous experience in the suburb, where it delivered the Motive Apartments project in 2017.

"We have previously enjoyed great success in developing in the West Leederville area given its excellent existing amenity and close proximity to the CBD, Leederville, Subiaco, and the West Leederville train station," Chan said.

He said the scale of the site would allow Finbar to deliver a well-located apartment project while strengthening its long-term development pipeline.

"The substantial scale of this site, with proposed potential for two eighteen-storey towers, will allow the Company to obtain scale benefits which will underpin the delivery of a medium-cost, well-located project," Chan said. "Importantly, this acquisition diversifies and strengthens our long-term development pipeline across metropolitan Perth, enabling us to time our product delivery strategically in line with market conditions."

According to Sterling Property, which brokered the transaction, the site was one of the most significant development opportunities to come to market in Perth's western suburbs in recent years.

Sterling Property Managing Director Brian Neo said opportunities of this scale in established inner-city locations remain tightly held.

"Sites of this scale and calibre, directly opposite a train station and within two kilometres of the CBD, are rarely offered to the market. When they are, they attract serious capital," Neo said.

The acquisition comes as Perth's apartment market continues to contend with limited development-ready sites in established suburbs, particularly those benefiting from both existing transport infrastructure and supportive planning frameworks.

With the West Leederville Precinct Structure Plan now adopted, Finbar can move forward with design development and the development approval process for what is expected to become one of the largest new apartment projects proposed in the suburb.

Finbar completes West Leederville site acquisition for Rosslyn Quarter project

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.

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

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

Staff reporter

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