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

Title Tattle

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Dan Hunter’s new three hats restaurant,<a href="https://braerestaurant.com/"> </a>Brae, at <a href="/news">Birregurra</a>, some 90 minutes south-west of Melbourne, has been named The Age Good Food Guide restaurant of the year.
It is only the third time the award has gone to a restaurant outside of Melbourne.
Brae was also named best new and best regional restaurant in the Gourmet Traveller awards last week.
<img src="/images/2014/08/29/brae_0004_BraeRestaurant%205.jpg.jpg" alt="">
Chef Dan Hunter and his wife, Julianne established the $180 set price multi-course menu less than a year ago.
Drawing many of its ingredients from the surrounding gardens and local farms, The Age Good Food Guide co-editor Janne Apelgren said Brae was “a benchmark in contemporary fine dining”.
As for "the Brae Effect" what is very obvious is the surge in new B&amp;B's as without doubt the restaurant has created huge demand for short-stay accommodation. 
That means the 15 or so staff at the restaurant have found local accommodation challenging - some renting in nearby towns like Winchelsea and Colac.
<img src="/images/2014/08/29/brae_0002_BraeRestaurant%203.jpg.jpg" alt="">
There have been around 40 property sales since early 2013 at Brae, with prices ranging from $90,000 on Main Street to $1.8 million for an 80 hectare farm on Cape Otway Road. Sales are a bit too erratic to make out an obvious price growth trend.
The restaurant is on a seven hectare holding that sold in May 2013 for $1.05 million to the McCorkell Brown Group, directed by Howard McCorkell and Damien Newton-Brown, who have been building and developing iconic properties together for 15 years.
The property came with the original 1868 cottage, with Corkell and Newton-Brown commissioning James Legge, principal of Six Degrees Architects, to work on the design of the new operation.
Accommodation is currently on the drawing board with Damien Newton-Brown telling Property Observer that he is close to lodging the planning permit application for the accommodation, and if all things go well construction might get underway in early 2015.  
<img src="/images/2014/08/29/brae_0001_BraeRestaurant%202.jpg.jpg" alt="">
Brae was formerly Sunnybrae, the pioneering paddock-to-plate restaurant owned and run by chef George Biron who farmed organically with his partner, Di Garrett, who sold the property.
Tulip in nearby Geelong was named the new regional restaurant of the year.
<div class="display-media image secondary pull-right"><img class="size_secondary filetype-jpg" src="https://edge.alluremedia.com.au/uploads/businessinsider/2014/08/age-cover-an-300x0.jpg" alt="" style="display: block; margin-left: auto; margin-right: auto;"></div>
2015 marks the 35 edition of The Age Good Food Guide which is on sale for $24.99.
Photos: <a href="https://www.colinpage.com.au/#See" target="_blank">Chris Page</a>. Source: Supplied. 
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jchancellor-FAypfDUnLy

Brae restaurant awards puts Birregurra on the foodies B&B map

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Barramunga, the classic two storey home set well back off Point Nepean Road at Sorrento, has been sold for $2.01 million.
It has upstairs views of Camerons Bight.
Barramunga kicked off the 2014 Australia Day long weekend auctions which faced buyer hesitation.
Title Tattle recalls the auction of the six bedroom cottage on its 3,474 square metre holding opened and closed on its $1.9 million vendor bid by the auctioneer Gerald Delany, who'd told the crowd that the site had been the choicest of selections in the 1920s by the stockbroker John Hindsen.
After three decade ownership, it was offered by Toorak dentist Geoffrey Wymond and his wife Diane who had it listed through Liz Jensen from Kay &amp; Burton Portsea.
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Barramunga, the 1927 Sorrento weekender, sells for $2.01 million

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The Georgian-designed Darlinghurst home of interior designer Darryl Gordon, the recent NZ shopping centre heir, fetched $1.66 million at its Bradfield Cleary mid-auction.
The 1838 Francis Street cottage close to Hyde Park had been listed with $1.3 million plus hopes.
The double-fronted home and office at <a href="https://www.propertyobserver.com.au/https://bradfieldcleary.com.au/4339021" target="_blank">16 Francis Street </a>cost $730,000 in 2001.
It is now adorned with his own classic style throughout the 117 square metre holding with rear garden space.
The listing followed Darryl Gordon's recent purchase of a Georgian homestead in Jamberoo on the NSW South Coast.
He paid $1.5 million through Elders Jamberoo agent Vivienne Marris, the first time the five hectare property has traded since it was built in 1858 for John Marks, the politician and Mayor of Kiama. 
Terragong at Jamberoo was part of the life of seven generations of the Marks family. The rendered bluestone homestead has four-metre high ceilings - some pressed metal, some timber; cedar doors and windows and many fireplaces of marble and tile.
Gordon also listed his restored <a href="/news/bluestone-or-sandstone-the-bedrock-of-inspiring-homes-he-said-she-said">Georgian-style blue stone cottage in Oberon</a> which was sold after being listed for $550,000.
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Designer Darryl Gordon secures $1.66 million in Darlinghurst

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Acclaimed dancer and choreographer Meryl Tankard has relisted her two-storey Bondi penthouse for 17 September auction.
Rather than the more than $2 million being sought in early 2014, this time it is $1.8 million plus.
The penthouse comes with four bedrooms, three bathrooms, three car spaces, views of the ocean and the harbour, and a self-contained roof-top terrace.
There is  534 square metres on title.
The former artistic director of the Australian Dance Theatre bought the Penkivil Street pad in 2007 for $1.732 million.
It was for sale in February this year through Alexander Phillips, of Phillips Pantzer Donnelley, but <a href="https://www.mcgrath.com.au/buy/apartment-bondi-nsw-2026/235684/?searchID=41955241" target="_blank">14/2A Penkivil Street</a> did not sell.
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Meryl Tankard's Bondi re-offering with lower price guidance

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Some 95 years after selling its first artwork in Melbourne, Leonard Joel, Melbourne's oldest auction house, will make its Sydney art auction debut this weekend.
It will be at its new Woollahra salesroom, part of the expansionary moves by managing director John Albrecht.
Albrecht says his leased Sydney premises at<a href="https://leonardjoel.com.au/public/files/files/LEONARD%20May%20Issue%2028%20LR%20Spread(1).pdf" target="_blank"> 39 Queen Street, Woollahra</a>, “retains the original character and atmosphere of a 19th-century auction room”.
<img src="/images/2014/08/22/leonard-joeal-aug-22-two.jpg" alt="">
Photo: (L-R) John Williams and John D'agata of Leonard Joel.
Its refurbished rooms in Sydney have two distinct gallery spaces and catering facilities, with exhibition space able to be hired out.
John D’agata, the head of the Sydney office, acknowledges that the precinct was "once the antique precinct of Sydney," but goes onto suggest Queen Street has now been transformed into the most vibrant collection of designer boutiques, fantastic cafes and eclectic homeware stores.
"Nonetheless the cultural heart of the street beats strongly with Leonard Joel Sydney at number 39, sitting squarely amongst it all," he said. <a href="https://sam.leonardjoel.com.au" target="_blank">The auction is on Sunday August 24</a>.
<img src="/images/2014/08/22/leonard-joeal-aug-22.jpg" alt="">
<img src="/images/stories/flagtitletat.jpg" alt="flagtitletat" width="25" height="34" style="font-size: 14px; margin: 5px; float: left;">The Sotheby's premium art auction-house bought last year on Queen Street, Woollahra spending $2.75 million on the former shop of the interior decorator, Ros Palmer.
 The purchase of the 200 square metres of retail space reversed the recent trend of Woollahra's Queen Street fast becoming fashion central as its Dickensian antique dealers departed.
Ms Palmer relocated to Launceston where she has an antiques shop in Longford, south of Launceston, called Parkview Antiques. 
Ros Palmer, who helped furnish the Lodge in Canberra, had initial $4 million plus hopes in 2010.
The <a href="https://www.realcommercial.com.au/property-retail-nsw-woollahra-500616075" target="_blank">30 Queen Street premises </a>(pictured below) in Sydney's eastern suburbs sold through Bill Bridges and Meagan Pokorny of Ballard Property Group.
<img src="/images/2014/08/22/woollahra%20aug%2022%20one.jpg" alt="">
The Sotheby's syndicate bought it through Woollahra Land Investments, which is directed by the art division Sotheby's Australian chairman and vice chairman, Geoffrey Smith and Samuel Cullen.
Sotheby's has been renting elsewhere on Queen Street for decades. 
The shop was last traded at $2.2 million in 2000.
Shapiro Auctioneers are at 162 Queen Street, taking the space that had been with Phillips International Auctioneers and Valuers.
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Antique dealer Leonard Joel arrives on Queen Street, Woollahra

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Geoff Harris, the co-founder of Flight Centre, and former vice-president of AFL club Hawthorn, who's worth an estimated $975 million on the latest BRW rich list, has bought in Albert Park. 
The $12 million purchase of Hollyford, the much admired 1873 residence, nows hold the mantle of the suburb's top sale.
It is the suburb's first $10 million plus double digit million dollar sale.
David Wood's Hockingstuart is being credited as the selling agency.
Hollyford was built about 17 years after St Vincent Place was laid out, modelled on the English idea of houses clustered around its central landscaped gardens.
The heritage listed St Vincent Place home comes with <a href="https://nma.net.au/project/st-vincents-place/" target="_blank">rear Nicolas Murray-designed extension</a> on its 480 square metre block.
The project involved restoring the front four rooms of an Italianate Victorian double fronted house along with a full width linear pond which marks the transition to the modern more informal living spaces which flows onto the garden and lap pool.
It last sold in 2002 at around $2.2 million.
<img src="/images/2014/05/13/albert%20park%20may%2013%20two.jpg" alt="">
Hollyford, which has its 1873 construction date on its gorgeous vined facade, was the home of the mariner, Thomas Mowbray Hutchinson, according to the land title documents that Property Observer has researched. He owned the holding from 1867 to 1875, there with his wife, Honora and six children. He died in 1888 in Chusan Street, St Kilda with a subsequent <a href="https://paperspast.natlib.govt.nz/cgi-bin/paperspast?a=d&amp;d=ST18890325.2.7" target="_blank">1899 court case</a> over his estate.
<img src="/images/2014/05/13/albert%20park%20may%2013%20one.jpg" alt="">
Then pawn broker James Healy owned Hollyford for just 14 months. The Hammond family held the property from December 1876 until its sale to the Ryan family from Tipperary in 1899. It seems they gave the house its name as Hollyford is a small village in County Tipperary. The best known family member was George Ryan, who died in 1986, and was old enough to recall the picket fence left over from St Vincent Place's days as a racecourse. The Ryans sold around 2002.
St Vincent Place's previous highest sale was $6.62 million when <a href="/expert-insights/buying/12590-weekend-auction-wrap-where-the-hammer-fell" target="_blank">Rosebank</a> sold unrenovated at its 2011 Marshall White auction. The 1866 double-fronted Victorian home was up for sale for the first time in over 52 years, and is now finally being restored.
Albert Park's prior record was Duart, the $7.25 million mansion sold in late 2009 on Beaconsfield Parade by the Salvo family to Sonia Hill, wife of Globe International founder Stephen Hill through Hockingstuart.
Harris quit full-time duties at Flight Centre in 1998, and left the board in 2008.
Gallery photos courtesy of <a href="https://nma.net.au/" target="_blank">Nick Murray Architects</a>.
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Flight Centre's Geoff Harris the $12 million Hollyford, Albert Park record setter

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World-renowned classical ballerina Darcey Bussell and her fund manager husband Angus Forbes have snappily sold their Vaucluse home pre-auction.
Title Tattle gleans as much as $4.9 million was accepted.
The Federation Arts and Crafts property was bought in 2005 for $4.15 million, 18 months before Darcey retired as principal ballerina with the Royal Ballet.
The five bedroom, three bathroom home was<a href="https://www.mcgrath.com.au/buy/house-vaucluse-nsw-2030/225396/?searchID=41540890" target="_blank"> scheduled for 30 August auction with cautious $4 million-plus expectations</a> through McGrath agent Ben Collier, who acknowledged that the views of the harbour from the house had been diminished since its purchase.
It was Guy Strapp, then BT's investment chief, and wife, Pru, who sold have sold in 2005 for $4.15 million having bought it in 2003 from internet entrepreneur Mark Cramer-Roberts for $4 million.
It now only has harbour views from upstairs.
Another Vaucluse house at 47 New South Head Road sold at $7.5 million which was $500,000 over the reserve at Cooley auction.
An overseas-based buyer secured the Tuscan-style, five-bedroom, five-bathroom home sold by James McCowan of Sotheby's International by Monique and Boris Ulis, director of Pacific Union.
However the property had been listed back in mid-2008 with $7 million hopes, suggesting it was a long time waiting the current sales spurt.
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Ballerina Darcey Bussell sells as Vaucluse prestige market takes flight

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Australian cricket captain Michael Clarke has listed his Lilli Pilli house as Sydney's property market records a resurgent August auction clearance rate.
But the $2.7 million plus price guidance for the 30 August McGrath auction is less than his 2006 purchase price.
Clarke paid $2.87 million in 2006 and has renovated it since.
Back in 2009 Clarke thought of quitting the Sutherland Shire but failed to achieve his then $3.4 million hopes.
This time there are $2.7 million plus expectations for <a href="https://www.mcgrath.com.au/buy/house-lilli-pilli-nsw-2229/206824/?searchID=41873569" target="_blank">t</a><a href="https://www.mcgrath.com.au/buy/house-lilli-pilli-nsw-2229/206824/?searchID=41873569" target="_blank">he contemporary five-bedroom, four-bathroom split-level house</a> that comes with pool, spa and boatshed on its 1670 square metre bushland riverfront block.
The auction price will be above the purchase price if it follows the recent Sydney trend of an average 11% difference above the pre-auction indication across Sydney auctions.
Earlier this year Clarke and wife, Kyly spent $8.3 million in Vaucluse.
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Michael Clarke facing Lilli Pilli house sale loss prospect

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Prue and Alasdair MacLeod have emerged as the $10.65 million buyers of the Woollahra home of Lynas Corporation rare earth mining magnate Nick Curtis and wife Angela.
It is a trophy Woollahra abode for the eldest daughter of media tycoon Rupert Murdoch and his first wife, Patricia. The MacLeod owns retail holdings on the prestige village strip. She and her husband of 25 years had been renting nearby from Rob Rankin, having sold in Vaucluse in 2012.
<a href="https://bradfieldcleary.com.au/4144844/133-Queen-Street-Woollahra" target="_blank">The Queen Street house </a>was initially marketed with hopes that it might go close to $12 million in February. There were then adjusted $10 million plus indications.
On its June sale, Property Observer speculated it sold at around $10.5 million given what was being told to other prospective buyers, but the slightly higher official figure emerged this week.
It last traded in 2004 when bought from the 2SM radio broadcaster John Laws and wife Caroline for $7.7 million.
Laws had purchased the 961 square metre Queen Street property in 1981 for $264,000 and then commissioned a two storey house, with separate staff quarters and garaging for six cars, behind its high fence.
There is also a separate two bedroom cottage.
All just footsteps from all the village amenities. 
Nick Curtis has been leading Lynas Corporation since mid-2001 with a career spanning more than three decades in the resources and finance industries.
The Queen Street trophy mansion sold through BradfieldCleary who marketed it as "a blue ribbon retreat with comfort and convenience".
Woollahra's record sits with a 2008 sale when engineer John Grill paid $16 million on Rush Street.
In 2010 the MacLeod's discretionary investment trust Wyelba Pty Ltd, spent $4.6 million on the then premises of Collette Dinnigan, now Zampatti
In 2011 the MacLeods also bought the then Howell and Howell antique premises at 84 Queens Street for $4.25 million, now with Anna Thomas as the tenant. The upper level is <a href="https://no84.com.au" target="_blank">operated as a boutique serviced apartment for tourists</a>.
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Prue and Alasdair MacLeod spend $10.65 million on Woollahra home of miner Nick Curtis

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The film types at Sydney's Palm Beach could soon be one fewer as artistic types are being regularly replaced by merchant banker millionaires.
Now Rachel Griffiths, the Melbourne based actor has placed <a href="https://354whalebeachroad.com/home" target="_blank">her isolated Palm Beach home on the market</a>.
Title Tattle recalls Rachel Griffiths bought her quaint two-bedroom cottage on Whale Beach Road for $735,000 in 1998 from the Lyons family. It was four years after her <a href="https://www.imdb.com/title/tt0110598/" target="_blank">Muriel's Wedding</a> film debut and around the time of <a href="https://www.imdb.com/title/tt0150915/" target="_blank">Hilary and Jackie</a>.
The 1950s sandstone cottage $735,000 price reflected the suburb's then average price. 
The average price at Palm Beach over the past 18 months has been $2,575,000. And Title Tattle gleans Griffiths, who possibly would like to buy back with her artist husband Andrew Taylor, is looking for around $2.5 million.
Built in the 1950's from local sandstone cut from the site, and refurbished in 2009 by architect Rob Brown, of Casey Brown Architects, the property is hidden by the Annie Wyatt Reserve, with access via Rockbath Road.
"This is one of Palm Beach's best kept secrets," LJ Hooker agent David Edwards says.
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