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Lowering the entry requirements for real estate agents as part of a bid for a national licensing system will put consumers at risk, according to the Real Estate Institute of Australia.
The REIA says a potential national licensing system mooted by the Council of Australian Governments dumbs down entry requirement agents to the detriment of both the profession and consumers.
“REIA, in the past, has been supportive of national licensing, but not at the cost of consumer protection,” Robyn Waters, world president elect of the International Federation of Real Estate says.
She says agent licensing levels will drop leading to an increased consumer risk and a lowering of professional standards.
“We also do not want to see the abolition of ongoing professional development as it would result in many practitioners not participating in legislative updates which are pertinent to their area of real estate practice,” Waters says.
“Many Australian families and small businesses rely on real estate agents to either negotiate or sell the single biggest investment they will make – be it the family home or a small business.”
Waters is representing Australia at the Asia Pacific Real Estate Congress currently on in Singapore.
The meeting looks at the challenges and opportunities which prevail in the region for real estate professionals as a result of globalisation.
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Dumbed down real estate licensing rules will hurt consumers: REIA

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Australia should follow New Zealand’s lead in allowing first home buyers to withdraw from their superannuation to help purchase a home, according to the Real Estate Institute of Australia.
The voluntary Kiwisaver superannuation scheme allows first home buyers to withdraw some or all of their savings to buy a home and committed members also receive a once-off payment of up to NZ $5000 for home deposits.
Members of the scheme can choose to contribute 3%, 4% or 8% of their gross salary and their employer contributes at least 3% of their gross salary. The government seeds the account with NZ $1000 and contributes up to NZ $521 per year.
Members are normally unable to touch their money until they are 65. The scheme started in 2007.
The NZ $5000 payment functions as New Zealand’s only first home owners grant.
In the year to March 10,733 KiwiSaver members have used the first home owners initiatives, according to New Zealander housing minister Nick Smith.
The REIA says access to schemes like this could help improve Australia’s declining home ownership.
“With over 82% of all Australian households holding at least some savings in their superannuation account and the average value across all households at $142,429, some access to these sources could reverse the current trend of declining home ownership,” REIA president Peter Bushby says.
“Both of these features can also be used to help with the overall deposit when buying land to build a first home house on. Furthermore, if a person has previously owned a home but is currently in a similar financial position to a first home buyer, they may still be eligible for both features.”
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Australia could learn from New Zealand's first home buyers super scheme: REIA

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Canberra's house prices grew over the June quarter to their highest point ever, according to the latest housing market report from Australian Property Monitors.
"The Canberra housing market has recorded solid growth over the June quarter, which follows a subdued period earlier in the year," the report says.
"Median house prices rose by 1.8% over the June quarter, to be up 4.2% over the 2013 financial year. Canberra’s median house price is now at an all time high of $576,248."
The unknown equation in the Canberra market is the impact of the federal election and any possible cuts to the public service.
However, today regular observer <a href="https://www.propertyobserver.com.au/hotspots/canberra-needs-to-stand-by-for-some-earth-quaking-changes-terry-ryder/2013090464794?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright" target="_blank">Terry Ryder wrote</a> that "Canberra generally has the most consistent city market in Australia. It often has the lowest unemployment and the highest average incomes in the land. That provides a solid under-pinning for property markets."
Howver, Terry Ryder also goes on to say that the ACT needs to "stand by for some earth-quaking changes" as a result of the upcoming federal electionand that "whoever wins the election will put the cleaners through the federal public service, particularly if we have a Tony Abbott-led government on Monday morning."
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Canberra house prices hit all-time high in June: APM

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Nightcliff is Darwin’s most searched suburb by buyers, but with a median house price of $843,448 it’s out of reach for many. But nearby Coconut Grove has a median house price that is 19.8% cheaper.
Westpac has compiled a list of 10 Darwin suburbs where it’s cheaper to buy than in their more popular but pricey neighbouring suburbs.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/09/03/darwin-houses-sept-3-big.gif" rel="shadowbox"><img src="/images/stories/2013/09/03/darwin-houses-sept-3-small.gif"></a>
The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price. The most popular suburbs were determined by the most searched for suburbs on realestate.com.au.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” says Westpac’s Gai McGrath.
If you wanted to buy a house in Darwin’s fourth most popular suburb, Parap, with a median house price of $808,054, you could consider travelling just three kilometres down the road to The Narrows where the average house price is 27% cheaper at $591,916.
You could own your home 15 years and eight months sooner and save $216,138 in purchase price $244,122 in interest repayments over time, according to Westpac.
If you wanted to buy a unit in Golden Grove, Adelaide’s eighth most popular suburb, you could consider travelling eight kilometres to Salisbury East where the average unit price is 28% cheaper.
The hidden suburb with most marked difference with its more popular counterpart was The Gardens which with a median house price of $719,522 is 40.5% cheaper than Larrakeyah’s $1.21 million.
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Darwin's 10 hidden gems: Parap is 27% cheaper than The Narrows and just 3km away

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Three retired Hitachi train carriages have been hoisted onto the roof of a novel Collingwood office development.
The design for the six-office development, End to End , by architecture firm ITN Architects, allows tenant access to the trains. Each of the six tenants will reportedly have half a train each, with access via an elevator from the basement.
One of the carriages may be turned into an art gallery or a bar.
The development at 48 Easey Street is a tribute to graffiti art including the notorious train graffiti.
In 2012, two of the unsold offices in the five level building were being marketed at $1.5 million. According to the <a href="https://end-to-end.yolasite.com/">developer website</a> the offices are still available.
The trains were hoisted into place on August 31 and September 1 with photos placed on the <a href="https://www.facebook.com/itnarchitects" target="_blank">ITN Architects' Facebook page</a>.
They were bought from train enthusiast John Horne who bought 120 carriages for $2600 each from the Victorian state government.
Photos courtesy of ITN Architects.
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Decommissioned trains hoisted onto roof of Collingwood office development

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Investors should proceed with caution in the Pilbara given recent announcements from Rio Tinto, according to Helen Collier-Kogtevs from Real Wealth Australia.

There are concerns Rio Tinto may not proceed with some new mines in WA’s Pilbara district after it widened its iron production guidance for the next five years.

Rio Tinto told analysts in Perth that annual exports of iron ore could range from 300 million tonnes to 375 million tonnes in 2018. But back in May it said that figure would be 360 million tonnes to 375 million tonnes, The Australian reports.

That means annual mine production could only rise marginally from the 290 million tonnes it plans to reach next year after a US $10 billion ($11.15 billion) expansion is finished.

Collier-Kogtevs says announcements like these should raise red flags for investors.

“I caution any investor looking at the Pilbara or any mining region to do extreme due diligence,” Collier-Kogtevs told Property Observer.

“When it comes to considering mining towns for investment they are high risk for a reason. Yes you get high returns but they are high risk and you really need an exit strategy in place.”

But despite the risk, there is still money to be made in the Pilbara.

“I would not say avoid at all costs. I have clients investing there and making a truck load of money. But I have people contacting me who have invested there who are in a whole lot of financial pain.”

“It’s all about doing the research. Understand what’s going on and not just at a micro level, you have to understand what’s happening with mining at the macro level.

“A lot of investors have come unstuck not looking globally and the impact that has on our resource market.”

In February 2012 Collier-Kogtevs recommended the Pilbara towns of Newman and Port Hedland as investor hotspots.

She described Newman as a town with a medium investment risk.

“Newman experiences high capital growth, high positive cash flow, medium to high entry level cost and medium risk. The town is strategically important to the national economy, has great historical performance and great projected performance, low vacancy rates, a high per capita income level and a high demand for housing,” Collier-Kogtevs wrote at the time.

“Port Hedland experiences high capital growth, high positive cash flow, high entry level costs and medium risk.”

Since then, Collier-Kogtevs says mining has gone off the boil.

“When I contributed to that article I was looking 12 months ahead,” she told Property Observer, “the landscape has changed.”

“I really didn't expect the government to bring in two new taxes. There a couple of things out of your control as an investor – death, taxes, changes in government and laws. So you do the best you can with the information you've got or the research that you’ve done do to make the best financial decision for yourself and circumstances.

“I'm aware of people buying off the back of a hotspot being nominated. I try and tread with caution; I'll share my opinion but I make sure to tell people to do their extreme diligence and base their decisions on their circumstances.”

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Mining hotspot in jeopardy - proceed with caution

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Investors are better off buying and operating vending machines than building a granny flat, according to Gavin McPherson, the head of property investment firm Oasis Property Group.
He says granny flats are for poorly informed investors in inferior areas and they attract bad tenants.
“The people that peddle this product trade on the lowest rung of investor,” McPherson told Property Observer. “Smart money knows better and doesn’t touch it.”
In NSW regulations only allow granny flats to be built on properties with a 14 metre frontage which McPherson says is only possible in the suburbs which aren’t ideal for investors.
“The stronger inner urban areas (i.e. the eastern suburbs, the north shore and inner west) thrive because it doesn’t allow this.”
“The bi product also of this is YES it does breed a very low class tenant.
“Cash flow is fine, but if you really are searching that hard for cash-flow – work an extra two to four hours a week (without the granny flat investment that does nothing for your capital value of land) or buy coke vending machines.”
But Jo Chivers, director of development firm Property Bloom, says it can add value to a home or investment in the short and long term.
“From a development perspective, it can be a quick and easy way to build your property portfolio and create high rental yields.” <a href="/news">she wrote in July.</a>
“Owners can benefit from cash-flow from the rent on two dwellings and also receive good depreciation benefits on the new flat (if being rented).  This means people can keep moving forward with their investment strategy.
“Unlike buying a single apartment for instance around Sydney which is likely to be negatively geared, adding a granny flat to a property with an existing dwelling can result in a cash-flow positive situation.”
She says small secondary dwellings are an attractive option for singles and couples – one of the fastest  growing sectors of the population.
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Granny flats worse investments than vending machines: Gavin McPherson

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Perth landlords are renegotiating leases to stop tenants who are enticed by low interest rates into buying.
There is a softening Perth rental market with more renters breaking leases and a rising vacancy rate.
The Perth metropolitan vacancy rate is at 3.4% for the quarter, according to the Real Estate Institute of WA – up 1.1 percentage points from three months ago.
And in July the REIWA reported one in four residential tenants were breaking leases – up from one in eight last year – which was putting pressure on the rental market.
Many put the increasing rate of break-leases down to loss of jobs in the resource industry. A recent report by Pit Crew Consulting found the resources workforce has contracted by about one-fifth since its peak at the beginning of this year.
But Jarrad Mahon, director of property management and investment firm Investors Edge, says one of the major influences of the softening rental market is lower interest rates which is allowing more renters to become homeowners.
“The breaking leases are mainly in the lower priced rentals under $500 per week. Where in many of those lower end suburbs it is now cheaper to buy than rent,” Mahon says.
In an attempt to keep potential buyers from breaking leases Mahon has been renegotiating leases.
“When negotiating the lease if the tenant is overly sensitive to price and the current rental market value is lower than what we are charging we have reduced the rent to keep the tenant. A $10 reduction over a year is far less costly than re-leasing the property,” he says.
“There is no positive I can see to tenants breaking lease.”
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Perth landlords lower rents to dissuade potential buyers

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The successful auction of 10 out of 12 rural properties compulsorily acquired for the abandoned Traveston Dam project could signal a revival of the property market in the Mary Valley, north of Brisbane.

The 12 properties were being sold by the Queensland Government which bought them along with 466 others in 2007 for the dam project which was eventually scuttled by Pater Garrett – the environmental minister at the time.

Of the 12 properties taken to auction, nine sold under the hammer and one sold in post-auction negotiations.

Prices for the predominantly grazing land ranged from $310,000 to $840,000.

The properties were sold by three different agencies – John Bambling from Bambling Rurual, Lex Townsend from Professionals Gympie and Matthew Condon from Landmark Harcourts Gympie.

Reports varied but there were anywhere from 200 to 400 people there on the day in what was a surprisingly strong turnout for the agents. 

“We think it was a terrific result in the context of our current market because it’s been so poor for the past couple of years. The prices on auction day were better than expected for the current market for rural properties,” Amanda Bambling told Property Observer.

Many of the properties sold to local buyers though some went to interstate investors. None of the properties sold to previous owners. Agents say it’s a sign of things to come in the area.

“It’s a good indication. There haven’t been many rural sales for quite a few years because of all the government owned up here. It’s a good here for the area and it’s good to see those places get back into production and be utilised,” Townsend said.

“The area we are selling is quite a sought after area, only minutes from Noosa and Sunshine Coast and Brisbane. I think it will pick up. 

“Once people see these sales they’ll be a little more confident to spend. There won’t necessarily be more dollars but there should be more sales. They have something to base it on.”

In 2012 the Newman government said the properties acquired by the Bligh government for $445 million were now worth just $220 million.

Saturday’s auction suggests prices haven’t dropped quite that far. Although previous sale prices were not released, agents said the properties sold for a lot more than half their previous prices.

The $1.7 billion dam which was initiated in 2006 after a prolonged drought. It would have held 153,000 square kilometres of water but was denied approval from the federal government following extensive environmental concerns.

Saturday’s sales:
{yoogallery src=[images/stories/2013/09/03/sept3coles]}
 Bambling Rural - John Bambling

687 Coles Creek Road, Coles Creek 74.4 hectares - $535,000

2433 Bruce Highway, Coles Creek 37.61 hectares with dwelling - $425,000(pictured above)

568 Coles Creek Road, Cooran 41.65 hectares with dwelling - $625,000 (pictured below)

830 Coles Creek Road, Coles Creek 2 hectares with dwelling – passed in at $312,000
{yoogallery src=[images/stories/2013/09/03/sept3coo]}
The Professionals Gympie - Lex Townsend

388 Kandanga Creek Road, Kandanga 8.09 hectares with dwelling - $320,000

Lot 2 Bergins Pocket Road, Kandanga 30.65 hectares - $454,000

172 Ironstone Creek Road, Tuchekoi 102.5 hectares - $595,000

245-437 Newspaper Hill Road, Belli Park 123.53 hectares with dwelling - $840,000

Landmark Harcourts Gympie - Matthew Condon

45 Frayne Road, Amamoor 7.85 hectares with dwelling – sold after auction for $310,000

Lot 11 Summerville Road, Kandanga 58.51 hectares with dwelling – $405,000 

80 Traveston Crossing Road, Kybong 38.06 hectares – passed in

199 Melawondi Road, Melawondi 38.06ha with dwelling – $506,000

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Traveston Dam auctions signal possible market revival

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Dwelling approvals decreased 1.2% in Victoria, the only state where approvals fell over July, according to the Australian Bureau of Statistics.
Dwelling approvals increased in July 12.6% in the Australian Capital Territory,4% in the Northern Territory, 3.1% in Western Australia, 1.6% in Tasmania, 1.5% in South Australia, 0.6% in New South Wales and 0.1% in Queensland.
Across the country there was a 0.9% increase in the total number of dwelling units approved.
The number of private sector house building approvals rose 1.1% in July.
Private sector house approvals fell for the second month in Victoria, down 1.0% in July.
JP Morgan economist Ben Jarman told AAP there was a rebound in approvals for both the detached houses and higher density homes categories.
"I don't think there is anyone who is doubting that building approvals are trending up, the question is how sustainable is it?", he said.
"We're reasonably upbeat about what building approvals can do this year. In fact, we think they will be adding more to growth than they have in the last few quarters.
"The question is will they offset what we're seeing elsewhere, which is a fair bit of weakness."
Michael Workman from the Commonwealth Bank of Australia points out that the actual number of residential building approvals jumped 10.8% in July - 28.3% higher than a year ago and well above market expecations of 4%.
The rise was mainly driven by multi-unit dwellings which rose 24.4% to be 62.5% higher over the past year.
Approvals for detached houses rose 3.9% - now 12% higher than last year.
"Note that the volatile multi?unit segment rose by 24%, with most of it in Victoria’s approvals. It means that Melbourne’s apartment market is most probably headed for, or already in, oversupply," Workman says.
"Melbourne’s inner?city apartment prices are rising more slowly than for detached dwellings. Victoria’s strong population growth, near 100k per annum, will help restore a more balanced outcome in the next few years. On a national level, the relatively firm population growth is producing underlying dwelling demand, on our estimates, of around 170 to 180k."
Peter Jones from Master Builders Australia Residential says while building approvals are back into positive territory they still have a way to go. 
“But they are still nowhere near where they need to be to meet the under supply of housing,” Jones says.
“With the Election less than a week away both major parties need to build on this positive trend with their policies.
“The 10.8% increase seasonally adjusted for July brings building approvals back on track after two consecutive falls
“It’s a positive sign that a sustained housing recovery may be taking hold
“Strengthening the building and construction sector with the right policy settings will help kickstart the economy, increase productivity, drive a stronger building industry and more jobs."
 
 
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Building approvals down 1.2% in Victoria: ABS

<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.

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“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.

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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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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.

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[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.

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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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