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

Joel Robinson

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

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

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

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

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

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

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.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

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.

[smartcode_project:default project_id=134323 project_image_fid=6395]

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.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

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.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

Student Housing

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GUEST OBSERVATION
The <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-30/international-students-arrive-in-australia-coronavirus-nt/12933370">arrival at Darwin airport</a> on Monday of 63 students from China, Hong Kong, Japan, Vietnam and Indonesia on a charter flight from Singapore ended an eight-month hiatus in international student arrivals in Australia. They are now in the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-27/nt-chief-minister-covid-cap-on-international-arrivals-doubles/12927552">Howard Springs quarantine facility</a>.
Quarantine capacity is a major issue, given the <a href="/news">numbers of international students</a>. Using student accommodation to quarantine newly arrived students is a way to increase this capacity. <a href="https://www.ahuri.edu.au/research/research-papers/enhancing-the-design-quality-of-purpose-built-student-accommodation">Our research</a>, released today, shows this could be important for solving the quarantine issue.
But shouldn’t Australians get priority?
Over the years we have become accustomed to hundreds of thousands of young learners crossing our borders. In airport arrival halls incoming international students rubbed shoulders with Australian students returning from exchanges, study tours and internships. In departure lounges departing international students, with perhaps some hints of an Australian twang in their accents, mingled with Australian students setting off on their big adventures.
Despite student mobility being a normal feature of modern Australia, it was inevitable “Australians first” critics would deride the arrivals. Tasmanian Senator Jacquie Lambie <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-30/international-students-arrive-in-australia-coronavirus-nt/12933370">said</a> she found the student quarantine program “sickening”.
The Department of Home Affairs <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-30/international-students-arrive-in-australia-coronavirus-nt/12933370">said</a> the students arriving in Darwin were in addition to the government’s <a href="https://www.smartraveller.gov.au/news-and-updates/limits-passenger-flights-australia">returning passenger caps</a>. And that is the way it should be. Just as international students do not displace any local students from university places, it is important their arrival does not delay the return of Australian citizens and permanent residents.
All Australian states are considering plans to create secure corridors for students to return for the 2021 academic year. Universities, schools and colleges across the country are planning for their return, albeit with some online learning continuing to allow for social distancing on campus. The Commonwealth has sadly remained lukewarm on the states’ proposals to date. 
Student housing provides an answer
The investment in purpose-built student accommodation over the past decade has been enormous.
Our research identified nearly 67,000 beds in this form of accommodation in Australia’s capital city CBDs alone. The <a href="https://www.propertyobserver.com.au/https://studentaccassoc.com.au/news/9376655">Student Accommodation Association</a> estimates there are over 95,000 beds Australia-wide. Major developments are due to open soon that will swell those numbers.
As well as dramatic increases in scale, the character of this purpose-built accommodation has changed significantly. Older student dormitories are relatively small and closely affiliated with universities, religious orders and other not-for-profit organisations. The newer commercial developments are large-scale properties, usually in city centres.
According to City of Melbourne data, between 2011 and 2018 the average height of purpose-built student accommodation increased from five storeys to 24. The average number of beds increased from 82 to 579! The largest planning application for a new property in Melbourne comprised 901 beds across 49 storeys, while the tallest building is 63 storeys with 740 beds.
A large proportion of these beds are now sitting empty. These facilities provide an ideal means for developing parallel pathways for these students to return to Australia without using existing channels for repatriating Australians. Whole buildings with hundreds of beds could easily be dedicated to housing the international students waiting to begin or resume their studies here.
How would student quarantine work?
The design of these buildings varies considerably. Authorities would be able to choose from many different bedroom and communal space configurations.
At first, it is likely quarantine authorities will want students to be kept in isolation for 14 days, so student apartments with their own kitchenettes and bathrooms are likely to be chosen. Over time, as confidence builds and systems to manage risks are refined, small clusters may be possible, using buildings in which several rooms share a kitchen and living space.
In either model, student accommodation properties are better suited to quarantine than hotels. They already provide pastoral care, security and staff attuned to the needs of newly arrived young people as a matter of course.
They should have no trouble implementing rigorous quarantine requirements to ensure no further outbreaks are caused by contagion through support staff, as has occurred in other contexts in Melbourne and Adelaide. Staff would have minimal contact with student residents. Meals could be left at the door, and rubbish collected at the door.
Staff and education providers could deliver support services by phone and video. Many universities are already providing daily exercise classes and arranging virtual meet-ups. These programs could easily be tailored to students in quarantine.
We have learned much this year about how to reduce the risk of transmission from incoming travellers. We know contact between quarantine workers and the broader community poses a serious risk. Thus, most staff working in student quarantine facilities would likely live on site. The scale of the newer properties makes this easy to implement.
Risks can be further reduced by arranging direct flights from a city with few cases to an Australian city where the students are transported directly to one facility, thereby avoiding flight transfers in busy hub airports. Testing would be required prior to departure and again before leaving quarantine. Staff would be tested regularly.
Students and education providers cover costs
These arrangements need place no burden on the Australian community. The Darwin model, in which students pay for their flights and the university covers quarantine costs, seems like a reasonable split.
 
Curiously, Charles Darwin University was not the first Australian university to organise charter flights and dedicated quarantine arrangements for students. In September, <a href="https://www.rmit.edu.vn/news/all-news/2020/sep/rmit-vietnam-students-returned-home-through-bamboo-airways-partnership">RMIT chartered a flight</a> from Melbourne to Vietnam to return 270 people, including many students from RMIT’s Vietnam campus who had been on exchange in Melbourne when the virus hit, as well as RMIT staff and business partners. A second RMIT charter flight from Melbourne landed in Da Nang on November 28.
Australia’s international education sector has the capacity to manage such logistics. Our universities have extensive experience in moving tens of thousands of students around the world every year. Our accommodation providers have huge capacity in new facilities specifically designed for students.
Expanding parallel pathways for students to return to Australia need not interfere at all with the return of Australians.<img src="https://counter.theconversation.com/content/150180/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/christopher-ziguras-956941">Christopher Ziguras</a>, Professor of Global Studies, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/tom-alves-1183729">Tom Alves</a>, Head of Development, <a href="https://theconversation.com/institutions/australian-housing-and-urban-research-institute-1038">Australian Housing and Urban Research Institute </a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-unis-can-use-student-housing-to-solve-international-student-quarantine-issues-150180">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

How universities can use student housing to solve international student quarantine issues

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A 17-storey student housing building at 500 Swanston Street is off to VCAT after the applicant, Journal Property Limited, decided to appeal the matter after City of Melbourne council failed to make a decision within the requisite 60 statutory days.

During its meeting on Tuesday night, the City of Melbourne's Future Melbourne (Planning) Committee resolved that it would have issued a permit subject to conditions, had the appeal to VCAT not been made.

These conditions would have included a reduction in height of two levels taking the overall height down to 15-storeys or approximately 51.5m, which according to Council planners would provide a better transition between Upper House to the north (17-storeys), Arrow on Swanston Street to the south (12-storeys) and The Eminence (15-storeys) to the north-east.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/swanston_street_elevation.jpg" rel="gallery-all" title="Amended Swanston Street elevation dated March 2018. Image: Metier3 Town Planning documentation"><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/swanston_street_elevation.jpg?itok=fKJ22BUL" title="Amended Swanston Street elevation dated March 2018. Image: Metier3 Town Planning documentation" width="580"></a>

<figcaption>Amended Swanston Street elevation with reduced height (March 2018). Image: Metier3 Town Planning documentation</figcaption></figure>This would reinforce Upper House's prominence on the corner and ensure that the proposed tower is not as prominent when viewed from Swanston Street, argues Council. Additionally, Council would have required levels 11 and above to be reconfigured to increase the setbacks from the southern boundary reducing their dominance and bulk further.

Increasing the setbacks will also improve internal amenity for student accommodation modules and improve the external amenity impacts by creating a greater separation from surrounding residential properties.

Council's planners provided their appraisal based on plans prepared by Metier3 in November 2017, which were subsequently amended in March 2018 with the following changes:

<ul>
<li>Deletion of levels 15 and 16 to reduce the overall building height by two levels to 15 storeys;</li>
	<li>Increased setback of Building D upper levels (11-14) from the south boundary to provide a 9m setback from the Arrow building, as well as reducing the overhang to allow more natural daylight to lower levels of accommodation;</li>
	<li>Introduction of light wells to Building D upper levels (11-14) to allow for improved natural light and ventilation to hallways on levels 11 to 14;</li>
	<li>The removal of rooms to allow for two additional windows per level to improve natural light and ventilation to hallways in Upper Mezzanine to level 10;</li>
	<li>Deletion of all 13 rooms in the lower mezzanine to remove all rooms with restricted daylight access. Part office and communal areas relocated to this space allowing for the deletion of basement.</li>
	<li>Introduction of four rooms to ground floor. Two twin share rooms added to ground floor made possible as result of the consolidated office space spread across two levels. Rooms were introduced to offset 13 rooms deleted from lower mezzanine below as these four rooms have adequate access to natural daylight;</li>
	<li>Deletion of basement;</li>
	<li>Deletion of east-west facing windows on northern boundary;</li>
	<li>Rationalised internal communal space to levels 10 and 11 to allow for additional rooms;</li>
	<li>Relocation of bike store to ground floor to enable direct access off building entry/street level;</li>
	<li>Overall reduction in number of beds from 710 to 587;</li>
</ul>
The original plans included three building elements providing 710 student accommodation units via a mix of studio, two-bed, three-bed, four-bed and five-bed units.

A food and drink, and two retail tenancies are located at the ground level, while the basement would contain a laundry, workshop, storage for 80 bicycles, and building services.

The lower ground will largely accommodate communal student areas including two landscaped courtyards, lounge, communal and private study areas, kitchen and dining area, entertainment, well-being and gym areas and gaming room.
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Laurence Dragomir

500 Swanston Street off to VCAT - City of Melbourne provides conditional support

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The US and UK are the most mature student housing markets, and continue to dominate global investment deals, but new stock developed now in Europe and Australia paves the way for institutional investment in the future, according to a recent Savills report.
<a href="https://www.propertyobserver.com.au/images/2017/11/10/SavillsNov15Chart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/10/SavillsNov15Chart.png" alt="">
Student Housing (SH) yields and sector comparisons:
<a href="https://www.propertyobserver.com.au/images/2017/11/15/SavillsSH.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/15/SavillsSH.png" alt="">
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Yields 
The US market stands out as particularly high-yielding for such a mature market. We expect yields to move in as institutional involvement increases, the sector matures and perceived risk diminishes. Although they are less developed markets, there is also potential for further downward yield shift in Australia and Spain over coming years. Whether Germany, the UK and France are fully valued at 3.75%-4.5% will depend on how much scope there is for rental growth in their main university cities. The gap between residential and student housing yields remain, although we expect it to narrow. 
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Source: <a href="http://pdf.euro.savills.co.uk/global-research/world-student-housing-2017-18.pdf?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-WorldStudent-8Nov2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=24caa627fb-Commercial_Property_27_September_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-24caa627fb-245615189" target="_blank">Savills World Research</a> 
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Australia leads in student housing yields: Savills

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SPONSORED POST
Where once it was a niche investment, student accommodation has now become a global asset class.
According to the latest Savills World Student Housing Spotlight, 2015 was a record year for investment in student housing with US$14.9 billion invested globally in the sector.
The Local Market - Australia
The Australian market continues to attract significant attention and is a particularly popular destination for international students. Students from China and India together supply nearly 40 percent of international students, an increase of more than 13 percent and 15 percent respectively in 2015.
With Australia featuring in the list of favoured destinations in the world’s top outbound markets for international students, plus a fast-growing domestic population, student numbers have risen 37 percent in the last eight years. With 30 Australian institutions appearing in the top 750 of the QS World University Rankings, up from 25 in 2012, demand is likely to continue and, as a consequence significant new stock will be required.
The strong growth potential in Australia is set against a general shortage of supply; at the moment there is only enough purpose-built student accommodation (PBSA) available to accommodate 6 percent of the student population. In response, more than AU$2 billion of capital has been earmarked for development projects in student accommodation since the start of 2015.
Around the World
The Savills World Student Housing Spotlight has found that cross border investment in this fast maturing asset class accounted for 40 percent of all global investment activity. International investors who are seeking to diversify their portfolios have been attracted by the fact that US and UK student housing REITs have outperformed their All REIT indices by 19 and 16 percentage points respectively.
The first half of 2016 has seen lower total global volumes compared with 2015, but in mainland Europe investment levels have continued to rise off a low base. By the end of July, German student housing had attracted €350 million of investment – more than double the total invested in the whole of 2015 – while in France €345 million has been transacted in the year to August 2016.
<a href="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" alt="">
Investors have been attracted by mainland Europe's strong investment potential. Its combined student population of 20 million, and the very low provision in some markets of purpose-built student accommodation (PBSA) despite growing demand from international students attracted by an increasing number of courses taught in English, place it on an upwards trajectory.
A Resilient Asset Class
Growing international student numbers are therefore set to secure the market for a premium PBSA product, but there also remains a huge untapped market for more affordable private accommodation. High land values and development costs will impede this in many markets, but upgrading of existing university stock or establishment of new models may be a route in.
In either case, student housing has proven itself to be a resilient asset class and, with its counter-cyclical fundamentals, many institutional investors will continue to turn to the sector where they can achieve strong occupancy and rental growth.
To learn more about the trends in the current student accommodation market, view <a href="https://www.savills.co.uk/research_articles/188294/207929-0" target="_blank">Savills World Student Housing Spotlight 2016</a>.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills student accommodation services, visit <a href="https://www.savills.com.au/services-and-sectors/student-accommodation.aspx" target="_blank">savills.com.au/studentaccommodation</a>.
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jchancellor-FAypfDUnLy

The rise – and rise – of global student housing investment

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Australia is a popular destination for international students, particularly from Asia.
China and India together supply nearly 40 percent of international students, an increase of more than 13 percent and 15 percent respectively in 2015.
Total higher education enrolments grew by 2.7 percent over the same period. 
Growing demand is set against a general shortage of supply. The provision rate stands at 6 percent, which is low compared to mature markets such as the UK at 24 percent. In response, a number of universities have commenced on-campus procurement projects and private operators are rapidly expanding their pipeline. 
<a href="/images/2016/10/11/Outboundmarkets.jpg" target="_blank">Click to enlarge </a><img src="/images/2016/10/11/Outboundmarkets.jpg" alt="">
More than AU$2 billion of capital has been earmarked for development projects in student accommodation since the start of 2015. The top ten providers currently own a total of 20,136 beds and have a combined development pipeline of 15,469, representing an increase of approximately 75% on their existing stock. 
Scaling up on new delivery presents challenges. Competing land uses, particularly from a strong residential sector, have pushed up land values and made development for PBSH unviable in some markets, most notably Sydney. 
Federal and state governments have recognised the shortage as a limiting factor in the future development of the country’s higher education sector (already Australia’s third biggest export, after iron ore and coal), and a number of strategies to enable new development are in the pipeline. 
<a href="/images/2016/10/11/Chartmonthlycost.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/11/Chartmonthlycost.jpg" alt="">
As an emerging market for student accommodation, transactional activity is limited as completed assets are generally tightly held. Savills research indicates there were just two transactions of operational residences totalling nearly AU$90 million in 2015. 
In 2016, Infratil (HRL Morrison) secured a 30 year concession of ANV’s portfolio of 3,760 beds and UniLodge @ UNSW was transacted at a net initial yield of circa 5.6 percent. 
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prateek24-ezbwHMbNAk

Australia's student housing plays catchup to meet foreign students influx: Savills

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The high quality of Australia’s universities is a major drawcard for international students, but accommodation availability is just not keeping up with supply in Sydney.
In the latest rankings, Sydney University sits on The Times Higher Education top 100, giving the long established international rivals a run for their money. It came in ranked at 61st in the world. The University of NSW joins Sydney among the universities in another ranking, the QS top 100. 
Australia's international student population continues to grow at a double digit rate, recent research from the estate agency, Savills International.
The OECD noted this reflects an international trend of student mobility when they reported more than four million international students were enrolled in tertiary education outside of their country of origin in 2013, an increase of 50 percent from 2005 levels.
Australia hosted the third largest number of international students at 6.2 percent in 2013, behind the US and UK at 19.4 percent and 10.3 percent respectively.
Sydney's standing contributes to robust demand for international student accommodation. 
New South Wales, then Victoria and Queensland have the greatest number of enrolments. 
NSW has around 327,000 domestic higher education students with another 93,000 international students.
The top nationalities, China, India, Vietnam, Republic of Korea and Malaysia. 
Chinese students provided over 27 percent of the total number of international students in Australia in 2015. 
Australia ranked as the third most popular destination for Chinese students (12.1 percent) after the US (33 percent) and Japan (12.3 percent). Australia was also third most popular for students from India after the US (48.2 percent) and UK (11.5 percent).
This has made property investors, institutional and private, move beyond the traditional property markets into student accommodation where the fundamentals are strong.
Some five percent of students are in university accommodation, five percent are in commercial accommodation with 90 percent renting privately or living at home.
At the moment there is a "critical undersupply" of appropriate Purpose Built Student Accommodation (PBSA) in Sydney, Savills Sydney student accommodation director Conal Newland said..
The high occupancy levels, robust revenue growth and attractive yield pricing make student accommodation is an attractive investment, he concluded.
The result of the growing levels of investor activity has meant that the student accommodation market is changing rapidly. 
Savills research indicates that more than $2 billion of capital has been earmarked for development projects across Australia since the start of 2015. 
Several new institutional investors have entered the market including Blue Sky Private Real Estate, Cedar Pacific, Global Student Accommodation, Scape, Valparaiso and Wee Hur. They have joined the likes of Unilodge, best known for their Central Park, Chippendale offering.
There are currently 67,695 PBSA beds in the eight Australian capital cities. All cities have an existing supply of less than 12 percent per full-time student with the exception of Canberra's 27 percent.
Melbourne and Brisbane have the largest development pipelines.
Sydney has a limited pipeline over the next four years with an additional 3,665 beds, of which around 38 percent are proposed by universities.
Savills nominated Urbanest as the most active off-campus developer with three properties completed since 2015 and another two in development.
Sydney saw 3,200 beds delivered in 2015 with these new properties trading at circa 70 percent occupancy in their first semester of operations.
In 2016 the average occupancy levels are at above 90 percent.
A number of universities, including the University of Western Sydney have commenced on-campus projects.
UNSW has been active delivering new halls of residence at the Kensington Campus in 2014 and 2015.
University of Sydney is an increasing participant – particularly at lower rental levels with the delivery of the Queen Mary building and weekly rents less than $300.
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 Student housing not meeting supply in Sydney

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Investors are moving beyond the traditional core markets and seeking alternative asset classes such as student accommodation where the fundamentals are strong, says the 2016 Australian Student Accommodation Market Report.
Growing investor and undersupply of student accommodation means that the market is changing rapidly. Savills research indicates that more than $2 billion of capital has been earmarked for development projects in student accommodation across Australia since the start of 2015.
Yields
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Current Indicative International Yields 
The following table provides an indication of Net Initial Yields for prime student accommodation investments across several countries with emerging and established markets as at March 2016. The spread of the prime yield to 10-year bond clearly illustrates a lower spread for the more mature and liquid markets of the USA and the UK. 
<a href="/images/2016/07/06/Screen%20Shot%202016-07-06%20at%2011.50.36%20PM.png" target="_blank">Click to enlarge</a>
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Australia 
Net Initial Yields in Australia have remained relatively static over the last 12 months, primarily due to the lack of transactional evidence. There is strong sentiment to suggest that yields are in a downward cycle, given the weight of capital that has entered the market and also the spread of current yields to the 10-year bond rate compared to more mature transaction markets. 
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The following table indicates the current net initial yields for Australia in 2016:
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