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

Scam

<html><body>
Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations, according to the ACCC
In 2019, around 12,000 (7.15 per cent) reports made to Scamwatch were from people under the age of 25, an increase of 11 per cent compared to 2018 figures. Reports from this age group increased by 10 percentage points more than any other age group.
“Scammers don’t discriminate based on age and the wide range of scams reported by this age group is concerning,” ACCC Deputy Chair Delia Rickard said.
“Young people may think they are tech savvy, but scammers are adapting and we expect to see more scams on newer platforms such as Snapchat and TikTok.”
Facebook and Instagram were the most common platforms for reports and losses by those under 25, with typical scams on these platforms involving fake online stores or the sale of fake tickets to events.
Online shopping scams were the most common scams, making up more than 14 per cent of reports and almost 12 per cent of losses among people under 25.
“Almost half of the losses to people under 25 occurred through bank transfer but you should also be wary of sellers asking for payment through unusual payment methods such as gift cards or bitcoin,” Ms Rickard said.
Scammers can also target children who play online video games, such as Fortnite, by offering unlocked achievements or special items in exchange for money or gift card codes without ever transferring the item.
“By targeting children, scammers could obtain personal and banking information from the individual’s parents,” Ms Rickard said.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Gen Z sees fastest growing number of scam victims: ACCC

<html><body>
Scammers have succeeded in securing $90,000 in proceeds from the recent sale of a $1.2 million Gold Coast investment property by Ray White Mermaid Beach.
The sale included a $120,000 deposit put in a trust account managed by the agency.
With the sale proceeding, the agency took its $30,000 commission and then told the client to email them his bank account details.
The client, Andrew Buckley, the former chief executive officer of the engineering firm Cardno, did so, but soon after, another email was sent purportedly from him.
The false email had requested the money be sent to a different, fake bank account.
The agency sent the $90,000 to that fake Westpac account, with the proceeds having not been recovered.
Buckley told the Courier Mail he was "flabbergasted" that no one called him from Ray white to check the new bank account details were true.
“As far as I’m concerned … this (email with a fake account) is a well-known scam,” he said.
The Ray White agency, in a letter to Buckley, pinned the blame on him.
“The fact that it has now come to light that it was not Mr Buckley who sent those written directions is as a result of Mr Buckley’s own failure to ensure the security of his email account,” its letter said.
Buckley acknowledged his email might have been hacked, but also it could have been a hacking on Ray White’s side.
Ultimately, he said this issue was irrelevant as he argued the real estate agent had a responsibility to verify details, especially with cash held on trust.
“You’re looking after someone else’s money,” he said.
The agency declined to answer questions from the Courier Mail, saying it was “fully co-operating” with investigations under way.
Ray White’s head office last month told agents to “never accept a change in bank account details via email without confirming its legitimacy with your client”.
</body></html>

Ray White blame client for missing $90,000 Mermaid Beach sale deposit scam

<html><body>
A Perth property manager has been fined $2500 after falling for a Scarborough holiday accommodation booking scam.
The scammer posed as "Colonel Michael Warner" in 2015 when he contacted the Scarborough real estate agency to make a booking for short-term rental residential apartments.
Consumer Protection WA said the name "Colonel Michael Warner" had been used previously in other Nigerian-based scams.
"Mr Warner" asked to make a booking for three groups at the apartments, totalling $53,449.
<div id="plista_widget_outstream_5a3c25c90ad7880" class="plista_widget_outstream" data-widget="">When he attempted to make the booking, the scammer attempted to use seven credit cards, with three declined, but leasing agent Vicki Ms Redfern went ahead with his requests.</div>
<div class="plista_widget_outstream" data-widget="">
At the scammer's request, Ms Redfern then transferred $25,138 and $20,066 from the agency's trust account to third parties in order to pay for "translation and tour guide services" the scammer wanted to use.
Ms Redfern's co-worker told her the requests seemed suspicious, but she went ahead.
The money Ms Redfern transferred has never been recovered, the Stirling Times website advised.
Consumer Protection WA brought disciplinary action against Ms Redfern following the incident, claiming she had:
<ul>
<li>failed to ensure the caller completed and returned agency forms in respect to the booking</li>
<li>failed to follow the agency's practice of holding deposits in the trust account until all guests left the accommodation</li>
<li>​failed to verify the identity of the credit card holders</li>
<li>failed to verify the identities of the third party "translation and tour guide agencies"</li>
<li>and failed to let her agency's owner know about the major transactions.</li>
</ul>
Consumer Protection WA commissioner David Hillyard said it was all due to the "incompetence" of an employee.
"It is disheartening that in this case scammers could use the agency as a vehicle to steal credit card holders' funds with relative ease, with not even the most basic checks being carried out," he said.
"Just a quick internet search of the scammer's name would have uncovered the fact that the name has been used previously in a variety of Nigerian-based scams.
"Then to ignore the concerns from a colleague about the scammer's unusual demands is entirely lacking in diligence.
"All principals of businesses in the property industry in WA must ensure that their staff, particularly those who are entrusted to operate the agency's bank accounts, are well trained in fraud prevention methods and exercise a high degree of vigilance.
"Agencies must have practices and procedures in place to assist staff recognise scam attempts in order to thwart them before the criminals are rewarded and losses are incurred by the business."
</div>
The scam left her real estate agency $45,000 out-of-pocket.
<a href="http://decisions.justice.wa.gov.au/SAT/SATdcsn.nsf/%24%24OpenDominoDocument.xsp?documentId=5EAD1AC4B54E9918482581FA00226ADA&amp;action=openDocument&amp;SessionID=EWMOQ8KVRY" target="_blank">The State Administrative Tribunal</a> found Vicki Redfern had "failed to exercise due skill, care and diligence."
It noted the agency lacked sufficient internal procedures and staff training regarding fraud prevention, including a lack of formal induction training, procedure manuals and use of written instructions.
</body></html>

Another Colonel Michael Warner accommodation scam triggers fine for incompetent Perth agent 

<html><body>
A woman whose Canberra house was stolen by overseas scammers has sued the ACT government to recoup her money.
She was awarded $546,268 compensation yesterday.
"The evidence of the plaintiff in the present case was that she intended to keep the property and ultimately leave it to her children," he said in his decision.
The international fraudsters pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia.
The owner lived in South Africa at the time.  
The ACT Supreme Court has been told the thieves went to elaborate lengths to steal the MacGregor home, conning real estate agents, lawyers and a bank.
The fraudsters are yet to be caught two years after the fraud came to light after its 2014 sale. 
It was only the third time an Australian property has been sold fraudulently with two successful sales in 2011 and six attempted property frauds in Western Australia.
"I have never given instructions to anyone to sell the property on my behalf. I never had any intention of selling the property as I wanted to keep it for as long as I could and then pass it on to my children," the victim said in an affidavit obtained by Fairfax Media.
The fraud stripped the victim of any right to the property, which was legally transferred to the innocent purchaser couple.
Registered real estate purchases made in good faith are protected by the ACT Land Titles Act.
The woman is now suing the ACT government for statutory compensation, seeking damages for the property value, stamp duty and legal costs along with lost rental income.
The government disagrees that she is entitled to recover damages from the government.
"The plaintiff has a remedy against the fraudster under section 154 of the Act and must first take action against him or her before she may take action against the defendant," the government said in its submission.
Associate Judge David Mossop has reserved his decision.
The international fraudsters pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia.
The owner lived in South Africa at the time. 
The ACT Supreme Court has been told the thieves went to elaborate lengths to steal the MacGregor home, conning real estate agents, lawyers and a bank.
The fraudsters are yet to be caught two years after the fraud came to light after its 2014 sale.
"I have never given instructions to anyone to sell the property on my behalf. I never had any intention of selling the property as I wanted to keep it for as long as I could and then pass it on to my children," the victim said in an affidavit obtained by Fairfax Media.
The fraud stripped the victim of any right to the property, which was legally transferred to the innocent purchaser couple.
Registered real estate purchases made in good faith are protected by the ACT Land Titles Act.
The woman is now suing the ACT government for statutory compensation, seeking damages for the property value, stamp duty and legal costs along with lost rental income.
The government disagrees that she is entitled to recover damages from the government.
"The plaintiff has a remedy against the fraudster under section 154 of the Act and must first take action against him or her before she may take action against the defendant," the government said in its submission.
Associate Judge David Mossop has reserved his decision.
</body></html>

jchancellor-FAypfDUnLy

ACT Government ordered to pay compensation after Nigerian scam gets house

<html><body>
A travel accommodation website is listing properties for lease without the property owner’s permission, sparking West Australian official fears that the site is run by scammers.
WA ScamNet is currently investigating the origins and purpose of Travel Advisor Pro (TAP) but due to early indications that it is a scam, a decision has been made to issue an early warning to protect consumers from potential monetary loss.
Anyone who has booked a property through Travel Advisor Pro (TAP) should contact WA ScamNet at Consumer Protection by calling 1300 30 40 54 or emailing <a href="https://mail.privatemedia.com.au/owa/redir.aspx?SURL=JhbmEinqKy7IV-TBLV0h0WixQKNjJEXkEEXn0bUBmlmlAJqgKoDSCG0AYQBpAGwAdABvADoAdwBhAHMAYwBhAG0AbgBlAHQAQABjAG8AbQBtAGUAcgBjAGUALgB3AGEALgBnAG8AdgAuAGEAdQA.&amp;URL=mailto%3awascamnet%40commerce.wa.gov.au" target="_blank">wascamnet@commerce.wa.gov.au</a>
While this matter is looked into, WA Consumer Protection recommends that this site is not used to book holiday accommodation.
"Not only could you be paying scammers without securing a stay at the property, the unsecure nature of the site should be a concern and could expose you to data theft.
"Property owners whose properties have been advertised on Travel Advisor Pro (TAP) without their permission should also get in touch," the department said.
The Travel Advisor Pro (TAP) site appears to be based in the Netherlands even though it purports to be a UK-based business.
The website is not secure and WA Consumer Protection’s computer scanning systems identity it as potential threat stating: “Domain reported and verified as serving malware. Identified as a malicious domain or URL.”
</body></html>

WA ScamNet issue warning on travel accomodation website

<html><body>
Real estate investment seminars are in the spotlight again with the competition watchdog instituting proceedings against property training company We Buy Houses and best-selling author Rick Otton.
The Australian Competition and Consumer Commission (ACCC) has repeatedly warned consumers to be cautious about real estate investment seminars in general. It urges people who have been scammed or come into contact with a seminar or real estate investment that “doesn’t seem right” to report it to the ACCC through the <a href="https://www.scamwatch.gov.au/content/index.phtml/tag/InvestmentSeminarsRealEstateScams" target="_blank">SCAMwatch website</a>.
In the latest case, <a href="/news/accc-drags-rick-otton-to-court-for-his-buy-a-house-for-1-claims">the ACCC alleges </a>We Buy Houses and Otton contravened the Australian Consumer Law by making misleading claims in promoting property investment seminars and training programs at costs ranging from $2997 to about $17,000.
Otton, who wrote the popular book How to Buy a House for a Dollar, says the ACCC is taking a literal interpretation of the book’s title while members of the public would understand that the dollar was just the start of the process.
But the ACCC is concerned the seminars target vulnerable consumers who don’t qualify for bank loans or who are having difficulties meeting their mortgage repayments.
The latest action follows an investigation with New South Wales Fair Trading. We Buy Houses and Otton have <a href="https://www.theage.com.au/victoria/warning-on-risky-we-buy-houses-scheme-20121102-28ofe" target="_blank">previously been under scrutiny</a> in other states with Victorian consumers warned about the seminars in 2012 and Otton being <a href="/news/wa/best-selling-property-investment-authors-wa-seminars-banned-department-of-commerce">banned from conducting seminars in Western Australia</a> in 2013. 
The ACCC frequently warns would-be investors that many consumers have paid thousands of dollars to a wide range of property investment seminar promoters to receive advice. In many cases the strategies presented have been high-risk, involving borrowing excessive sums or borrowing on risky terms, and inappropriate for the investor.
In some instances, people with <a href="/guides/asic-commences-proceedings-against-property-promoter-park-trent-properties">self-managed superannuation funds have been specifically targeted</a>, although<a href="https://fsi.gov.au/publications/final-report/chapter-1/direct-borrowing" target="_blank"> proposals to ban SMSFs from borrowing</a> may curb that. 
Some investment seminar promoters use high pressure tactics to coerce people into making investments without independent advice. Some charge unexpected fees and commissions or make false or misleading promises about rent guarantees or discounts for buying off the plan.
Here’s a list of tips compiled from the <a href="https://www.scamwatch.gov.au/content/index.phtml/tag/investmentseminarsrealestatescams" target="_blank">ACCC’s ScamWatch website</a> and the Australian Securities and Investments Commission’s (ASIC) <a href="https://www.moneysmart.gov.au/investing/investment-warnings/investment-seminars" target="_blank">MoneySmart website</a> on how consumers can protect themselves from losing money as a result of advice from a property investment seminar:
<ul>
<li>Use your common sense: the offer may be a scam. 
</li>
<li>Remember there are no get-rich-quick schemes: the only people who make money are the scammers. 
</li>
<li>Be wary of investments promising a high return with little or no risk. No investment is risk-free. If it looks too good to be true—it probably is. 
</li>
<li>Look carefully at the strategies suggested by the seminar to achieve these results. Property typically returns 6-7% a year, year after year. If you're offered returns of 1-2% more than the typically return, get a second opinion and ask for a detailed written explanation. 
</li>
<li>Watch out for property deals that include 'rent guarantees' or 'discounts' for buying off the plan. They can involve hidden fees and commissions. The properties can also be over-valued. 
</li>
<li>If you are planning to make an investment, consider other costs that may be involved such as legal fees and stamp duty. 
</li>
<li>Do not let anyone pressure you into making decisions about money or investments. Do not commit to any investment at a seminar where the atmosphere can be charged and exciting. Investment decisions should only be made after a lot of thinking and after seeking independent advice. 
</li>
<li>Remember that family members and friends may try to involve you in a scam without realising that it is a scam: you should seek independent advice (from a lawyer or financial adviser). 
</li>
<li>Do not open suspicious or unsolicited emails (spam): delete them. Do not reply to a spam email even to unsubscribe. 
</li>
<li>Check with ASIC and the ACCC to see if they have taken any action against seminar promoters or their schemes. Remember that even if ASIC or the ACCC have not taken any action to date, this does not mean the scheme is safe or legal. 
</li>
<li>Before you accept an offer to fly interstate to view properties, find out if you must pay for your travel and accommodation if you don’t buy. 
</li>
<li>Another twist is to get you to invest in offshore schemes where you lose the protection of Australian laws. You may never see your money again.</li>
</ul>
Source: ACCC, ASIC.
 
</body></html>

zfielding-GvX3Uq9KTa

11 tips to protect yourself from a property investment scammer

<html><body>
Checking testimonials and reviews, particularly online, are one way we all do a little bit of our due diligence when looking for any type of holiday accommodation or even restaurant to go to.
Property investors also largely use them for experts and professionals to help them with their buying, renovating, building and even accounting.
In fact, they're such a powerful way to be convinced into using a particular company or individual that it's rare to see a website without them.
But, just as it's easy to write someone a testimonial - which they may, or may not, use - it's just as easy for a less-than-reputable character to be overtly selective with their testimonials or just to fabricate them completely.
WHAT IS A TESTIMONIAL
Testimonials are comments from customers and clients of a service or product that explain their service and how they found dealing with a company of person. They are heavily used as marketing tools, and for promotion, in every industry - from the Sham Wow to the back of a novel. Testimonials can be incredibly useful for finding out what other people think about a service.
You might see them in newspapers, in emails, on websites or forums (particularly the business' own website), on review websites and in brochures.
MUST KNOW
Before we get into when to be alerted by a potentially fake testimonial, for companies in Australia it's worth noting that making, relying or using false or misleading testimonials is unlawful, according to Consumer Affairs Victoria (CAV).
That means, while they shouldn't be falsified, if they are then you do have a right to notify Consumer Affairs about it.
CAV notes that businesses that regularly rely on testimonials include alternative health care businesses, restaurants, weight loss service provides and, of course, estate agents.
<blockquote>
Businesses that regularly rely on testimonials include alternative health care businesses, restaurants, weight loss service provides and, of course, estate agents.
</blockquote>
If you're a real estate company using testimonials, basically make sure they're coming from real people, you haven't paid for a review, that you note down if there has been any sort of commercial relationship with that person, that you do not delete negative reviews and that you keep records of them all.
Remember, while less common, some do use fake testimonials to purposely say bad things about a competitor as well. These are also misleading, and you'll want to keep an eye out for them.
WHAT TO BE WARY OF
Duplicate reviews in different names, or appearing in different places multiple times.
Reviews that seem to overtly suggest you use the service, often providing discounts or codes. They may even be slagging off a competitor within the same review.
Review websites that are in some way associated to the company.
Email addresses with three or more numbers at the end - suggesting this is fake and may have been created by an automated program.
If it's an Australian company that deals with primarily Australian residents, then be wary if all the reviews have Americanised spelling. This should be a surefire warning sign that there's something fishy going on.
Those that sound like advertisements (there's a specific tone to be aware of). Be alerted by anything over the top, overly endorsement heavy, and non-specific. If they have industry-specific terms or phrasing that an average person is unlikely to use - also be aware.
Websites where all the reviews are positive or where large numbers of reviews sit at either end of the spectrum. The majority of real people give reviews within the two to four star bracket, rather than the one and five stars.
<blockquote>
The majority of real people give reviews within the two to four star bracket, rather than the one and five stars.
</blockquote>
Gut feeling is a powerful thing. Would this be something you could see yourself writing if you had the same good/bad experience? If not, why not?
Do they overtly use words and phrasing that a typical person would not? For instance, they may refer to a iPad Mini as an iPad or an iPad Mini, but it's unlikely they'd refer to its complete specs in a review e.g. iPad Mini 16GB with retina display and Wifi. Similarly, phrasing might be a little... off, particularly if cliched.
Not everyone is a wordsmith, and it's likely some people will use typical phraseology to review an item, but something like the following sentence reeks of falsity: "Great buying experience, couldn't be happier - now on my way to millions!". Unconvinced? So are we.
While not everyone will allow you to check their identity, usually there's at least one person with their full name (in which case, is it a "common" name that cannot be verified?).
If photos are with the testimonial - are they stock photos? Have you seen them used elsewhere? Search the photo through Google images' search function or through a reverse image search. Just because a photo has been included, it doesn't mean it's real.
Have you checked reviews across a number of sites? If you haven't it's time to get Googling a little more. Check out forums, where unhappy clients may be able to tackle false reviews more easily by providing their own experiences.
Look for links. Links to a person's blog or own website can be a powerful thing, suggesting they're a real individual. However, a 'tracking' link or a link that redirects you suggests that the review may be paid for.
If you're wanting to verify any further, then Property Observer suggests calling the company in question and asking for contact details for the person who provided the review - or for your contact detail to be passed on (such as an email).
Video testimonials can be even more convincing for some, however how do you know when the video was taken? Was the reviewer halfway through a seminar, or about to head in? Again, it's worth asking to contact the individual themselves.
Think you've seen a false review on a property product online? Email: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
</body></html>

jduke-EHk3XBmHkn

How to tell if a testimonial is fake: Spruiker alert

<html><body>
A warning has been issued by the Magistrates’ Court of Victoria about scam emails advising about court and tribunal appearances and proceedings.
The email may advise you to report to court on a specific day/time and to bring documents and witnesses.
The email instructs the recipient to open and read an attached ‘court notice’. They’re warning that this contains a virus and that you should not open the attachment and that you should delete the email.
“If you are not involved in a proceeding, a court or tribunal will not communicate with you by email. Unsolicited emails or requests for personal information are not sent by courts or tribunals,” VCAT is advising.
 
</body></html>

Scam

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Scam

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News