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Market commentator Christopher Joye says Australia could be facing its most serious housing crash in 75 years.
He says banks have a commercial incentive to instigate high credit growth.
“I do not believe that the market characteristics are currently bubble-like, but they could quickly become so,” Joye wrote in the Australian Financial Review.
He says there could be a massive market downturn unless macro-prudential tools and higher rates are implemented.
He says Sydney’s high pace of house price growth is concerning.
“Very strong capital gains would start to put the Australian housing market into serious bubble territory,” he wrote.
He says this would prompt the most serious housing crash in 75 years.
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Australia facing most serious housing market crash in 75 years: Christopher Joye

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Renovating is a classic way to add value to a property but it can be quite costly. Some major overhauls cost hundreds of thousands of dollars, which frankly not everyone is willing to spend.
But it doesn’t have to be that expensive.
Over the next few weeks Property Observer will be speaking to renovation experts to get their top tips on how to get the best increases in value with just $10,000.
This week, Cherie Barber from Renovating for Profit gives her quick tips on adding value with just $10,000.
Most of her tips add $3-$5 of value for every $1 spent.
<ol>
<li>Add a lick of paint – for every $1 spent you get a $10 return</li>
<li>Change the floor coverings by ripping up old grungy carpet or polishing the floorboards.</li>
<li>Change the window furnishings</li>
<li>Improve the lighting. Quite often old houses have just one oyster light in the centre of the ceiling so it’s quite common to install down lights that really illuminate a property.</li>
<li>Cosmetically update the kitchen or bathroom. If your kitchen is structurally good but the wrong colour then add a lick of laminate paint and tile paint, or use a bench-top resurfacing kit.</li>
<li>Install ceiling fans in the bedrooms if the house doesn’t have air conditioning. </li>
<li>Installing wardrobes and install blinds. </li>
<li>Replace the skirting board and architraves.</li>
<li>Refreshing doors – keep the same door but add a lick of paint and upgrade the fixtures and fittings.</li>
<li>Outside update the rendering. Improve the landscaping for new garden beds. </li>
<li>Add new plantings, and rip away old foliage. </li>
<li>Take a chainsaw to any trees or bushes that don’t look good.</li>
<li>Resurface the driveway using things like Pour On gravel binder.</li>
</ol>
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Cherie Barber's top $10,000 renovation tips

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Unemployment has increased 0.1 percentage points to 5.8% in August leaving it just below its post GFC high of 5.9% which was reached in June 2009, according to the Australian Bureau of Statistics.
The number of people employed decreased by 10,800 to 11,637,100 in August, mainly driven by a decrease in male full-time employment and a decrease in female part-time employment.
Part-time employment is down 8,200 to 3,508,300 people and full-time employment is down 2,600 people to 8,128,800.
The number of people unemployed increased by 9,400 people to 714,100.
"If the participation rate were still at its June 2009 level of 65.5% the unemployment rate would now be 6.5%. The fall in the participation rate to now 65%,  reflecting a combination of demographic forces as the population ages and more retire and workers leaving the job market after becoming disillusioned in the search for a job, has clearly had the effect of understating the true weakness in the jobs market over the last few years," AMP's Shane Oliver says.
"The underlying weakness in the jobs market is also highlighted by a further rise in the labour force underutilisation rate to 13.7%, from 13% in May. This takes account of the unemployed and those who are employed but would like to work more hours.
Australia’s jobs market is still much stronger than that in the US, but as can be seen the gap in the unemployment rate between the two countries is closing rapidly."
Oliver predicts there are further increases to come.
"Weak labour market leading indicators – such as falls in the ANZ job ads report and still weak hiring plans according to the NAB business survey – point to a further rise in unemployment over the next six to nine months," Oliver says.
"It should start to top out around the middle of next year though as growth picks up in response to low interest rates, the lower $A and the recent lift in consumer and business confidence. The labour market is usually a lagging economic indicator and right now it is reflecting the weakness in overall of economic growth from 3-6 months ago. 
"While stronger housing related indicators and the recent boost to confidence if sustained suggest that we are either at or very close to the bottom for interest rates in Australia, the weak job report highlights that the risk for interest rates is still on the downside."
ANZ says the signs point to no interest rate increases until late 2014 or early 2015.
"While the recent bounce in business and consumer confidence is encouraging, business conditions remain very subdued and labour market conditions are soft," ANZ's Riki Polygenis says.
"Admittedly, a number of tailwinds for the economy appear to be growing, including the more supportive global backdrop, the lower AUD and the housing market recovery which often has positive spill-over effects into consumer spending.
"However with mining investment to remain a significant drag on the economy and the outlook for non-mining investment still weak, we view an extended period of low rates the most likely outcome beyond the next few months (with no rate rise before late 2014 or early 2015)."
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Unemployment close to GFC highs: ABS

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International students will play a vital role in the recovery of the Brisbane rental market, according to property analysts Urbis.
It says transaction volumes have increased and higher prices are being paid, especially for two-bedroom apartments.
“Urbis is of the view that the international student population will play a significant role in Brisbane’s economy, whereas previously the student market had been focussed on Sydney and Melbourne. This will translate into an improved rental market,” Urbis’s Jon Rivera told The Australian Financial Review.
“It’s not a new trend but it is being highlighted more in Brisbane now. We are still seeing some of the purchases being made from offshore.”
He says the Brisbane City Plan, currently before the council will be favourable for the market.
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International students to fuel Brisbane rental recovery: Urbis

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An Asian investor is reportedly in negotiations to spend more than $95 million on a 24.3 hectare residential site in Yarraville, in partnership with a local developer.
The former Bradmill denim factory is <a href="https://www.propertyobserver.com.au/residential/another-%24100-million-plus-residential-land-sale-pending-at-yarraville-gardens/2013070362959">being sold by former Carlton football club vice-president Colin De Lutis</a>, who bought the site in 2007 for a reported price of $7 million.
It was rezoned to residential and named Yarraville Gardens in 2011 and a master plan for 1500 dwellings was developed by Peddle Thor Architects.
The plan comprises a mix of townhouses and apartments.
In July CBRE suggested <a href="https://www.realcommercial.com.au/property-land+development-vic-yarraville-500791159">the site</a> would sell for more than $100 million.
It is being sold by CBRE agents Mark Wizel and Justin Dowers. In July they tipped it would likely sell to an Asian developer.
“There is little doubt that while off-shore Asian developers remain the most active buying group for large inner city sites with residential development potential, Yarraville Gardens is also expected to generate significant interest from the domestic private and institutional development market,” Wizel said in July.
The Australian Financial Review reports De Lutis will retain 2 hectares which has approval for a 10,000 square metre shopping centre and a library.
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Asian investor to spend $95m on Melbourne residential site

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Melbourne fashion label Cubec Clothing is opening a new Melbourne premises.
It has negotiated a lease for a 50-square metre shop at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500618083">144 Little Collins</a> with an initial rent of $1900 per square metre.
An investor paid $1.45 million for the ground-floor retail space in April this year.
It is in the Fender Katsalidis designed Hero apartment building.
At the time of sale the shop was leased to Pilkington Jewellers at a rent of $89,900 per annum.
CBRE's Josh Rutman and Ed Wight negotiated the sale and the seven-year lease was negotiated by Zelman Ainsworth and Cam Taranto from CBRE as well.
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Cubec Clothing leases Little Collins site

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The Napthine government will purchase units from off-that-plan buyers in Parkville’s Evo building which is to be surrounded by off-ramps from the proposed east-west link.
Buyers in the Pace Development Group have been demanding action from Linking Melbourne Authority after plans for the massive freeway development revealed the tower would <a href="https://www.propertyobserver.com.au/developments/doubt-cast-over-jardin-australand-parkville-project-but-evo-buyers-caught-in-east-west-link-plans/2013071663349">literally be surrounded by off-ramps up to five-storeys high.</a>
The LMA is offering buyers in the 175-unit complex the option to sell their contracts by September 25, settle and sell within 90 days or keep the property and seek compensation, or keep the apartment and sell at a later date at the affected value.
Treasurer Michael O’Brien says the decision is consistent with the government’s commitment to treat people who may be affected by the project fairly and with respect.
“The Coalition Government is acutely aware of how the East West Link project could impact people purchasing apartments at the Evo development,” O’Brien says.
“LMA has been listening to and working with the developer and purchasers to ensure they are continually informed, and to work towards an appropriate and fair outcome,” O’Brien says.
The deal allows first home buyers the retain eligibility for any applicable grants and stamp duty relief.
Buyers can claim back any capital appreciation which would have happened had the project not gone ahead as well as cash deposits or fees associated with a deposit bond up to $2000, legal fees up to $2500 and reimbursement of any lost stamp duty benefit.
The LMA will also purchase the 16 unsold units in the seven storey building and act as landlords.
At an average cost of $500,000 the acquisitions could cost $90 million.
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Napthine government to buy east-west link affected units

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Buyers have not been discerning about whether potential homes are connected to the National Broadband Network or not, according to real estate agents in Western Sydney.
Director of real estate firm Harcourts, Andrew Chrysanthou told The Australian Financial Review that not one single buyer in western Sydney’s Blacktown had asked about whether a home was connected to the NBN or not.
The district is mid-way through a roll-out of Labor’s NBN.
“It hasn’t made any extra sales… It’s definitely not the talk of the town from people looking to buy or rent around here,” he said.
“There may be a bit of an impact in the future as it becomes a more widely used service, but even then I don’t think it will be a major selling point.”
Sky Property’s Riza Kamerakkas told The Australian Financial Review buyers were interested in rental returns and other property features ahead of the NBN.
“It’s not something unique, it’s not something you’re going to have and your neighbour’s not going to have,” he said.
“Blacktown is an an investor market, people are coming and thinking about rental returns not the NBN.”
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Home buyers unswayed by NBN

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There is just 25% chance of a further rate cut by the Reserve Bank of Australia, according to Citi chief economist Paul Brennan.
He says an improved global economy will flow through to Australia and further cuts were unlikely, though things might chance once the RBA releases its views on September 17.
“In reality they are prepared to cut if they need to, but they probably feel as if they have time on their side,” Brennan told The Australian Financial Review.
He says the fundamentals are moving in the right direction but a pick-up in housing is slower than in previous cycles.
“In other cycles, interest rates were cut much more quickly. So you had a bigger shock effect.” Though he said auction rates have shot up.
“I think the August cut may have been a bit of a catalyst. And now the election is out of the way as well. Potentially the RBA strategy would be to wait…unemployment is drifting higher and they don’t want to get a run on.”
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Just a 25% chance of another RBA rate cut: Citi

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Dolce and Gabbana spent five years searching for a suitable location for its first Australian store it revealed at its Melbourne opening last night.
The choice was between Sydney and Melbourne and like most luxury retail brands they were looking to nestle in next to Louis Vuitton.
In Melbourne the fashion house wanted nothing less than the iconic Collins Street for its two-storey flagship. The strip is already home to other high-end brands like Chanel, Prada, Hermes, Cartier, and Gucci.
Despite initial hopes of a large box-shaped space they have settled with a two-storey shopfront straddling both sides of the archway entrance of the newly renovated 171 Collins Street office building.
The design effectively splits the shop into two distinct sections with two separate entrances. Journalists were carefully guided through the appropriate entrance at its opening last night.
In keeping with company policy, no one from D&amp;G was authorised to speak on the record.
The tower it’s nestled in is a Premium Grade 6 Start Green Start building – one of Victoria’s first.
Tenants in the building include BHB Biliton, Evans &amp; Partners, Egon Zehnder International and a new Andrew McConnel restaurant facing Flinders Lane.
The building includes access to a hotel-style concierge.
Leasing Information Services managing director Simon Fonteyn said he’s not surprised they had to wait so long to find the spot.
“They need to establish a flagship, and flagship locations in the CBD are difficult to obtain,” he says. “There’s a lot of competition from the larger international brands for these sorts of locations.”
For international brands looking to establish a foothold in Australia’s fashion market, flagship stores serve as a marketing and distribution hub in addition to making sales, he says.
“It’s a promotion strategy, particularly for a company like D&amp;G. They’ll be a major supplier to other stores in things like sunglasses, so it’s important for them to showcase the brand like that. It’s a very typical strategy, and one also followed by retailers like Zara and Topshop.”
After the flagship comes the rollout to the other capital cities, or, depending on the brand, to the suburbs.
While not all businesses can wait five years for the right location, nor need a space the size of D&amp;G’s new store, Fonteyn says putting solid effort in to getting the right location for your business is vital.
And he says if you’re not looking for a high-profile flagship CBD location, it’s a tenant’s market at the moment.
“For D&amp;G, there’s an excess of demand for supply for these types of locations.
“But in shopping centres, the market is very soft.”
At its half-year corporate results briefing towards the end of last month, Westfield Group revealed its <a href="https://www.smartcompany.com.au/retail/057262-westfield-has-no-choice-in-decision-to-negotiate-lower-rent-on-new-leases-experts-suggest">new tenancy contracts could be lowered by up to 10%</a>.
It was the latest sign of a retail leasing sector under strain. Tough retail conditions are causing lower renewal rates, in turn putting pressure on the leasing sector. For retailers, this makes it a good time to upsize to a better location if you can afford it.
Fonteyn says it’s probably the last major announcement he would expect in the retail property space until the end of the year.
“Traditionally, retailers stop leasing permanent space around October as everyone gets ready for Christmas,” he says. “So, if they do deals after that, the stores won’t open until after February at least. It’s getting towards the end of the retail leasing season.”
 
<hr>
 This article originally appeared on <a href="https://www.smartcompany.com.au" target="_blank">SmartCompany</a>.
 
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Dolce and Gabbana open in Melbourne after a five year hunt

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Alistair Walsh

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