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<p>Hobart houses are spending the longest time on the market - an average of 86 days - and are being discounted the most at an average of -7.5%, according to RP Data for the week ending August 25. </p>
<p>Hobart units are also spending the longest time on the market, at an average of 96 days and an average discount of -11.3%.</p>
<p>Sydney houses spend the shortest time on the market - an average of 30 days - but Darwin houses discount the least at -3.1%.</p>
<p><img height="316" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-7.gif" alt="rp-data-aug-26-chart-7"></p>
<p> </p>
<p><img height="217" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-8.gif" alt="rp-data-aug-26-chart-8"></p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.</p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.</p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">The statistics are calculated across results received by rpdata over the past week and include properties transacted over the past four weeks.</p>
<p style="outline-style: none; outline-width: initial; outline-color: initial;">The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.</p>
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Hobart dwellings lead the way in vendor discounting: RP Data

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<p>Melbourne and Sydney are neck and neck for auction clearance rates for the week ending August 25, according to RP Data.</p>
<p>Both are slightly below 80% with Sydney at 79% and Melbourne at 77.5%.</p>
<p>Brisbane was the weakest performer at 38.4%.</p>
<p> </p>
<p> </p>
<p><img height="247" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-3.gif" alt="rp-data-aug-26-chart-3"></p>
<p><img height="215" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-4.gif" alt="rp-data-aug-26-chart-4"></p>
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Melbourne and Sydney clearance rates neck and neck: RP Data

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<p>Melbourne home prices have dropped back 0.4% for the week ending August 25, according to RP Data.</p>
<p>It's still up 0.2% for the month though.</p>
<p>Sydney dropped 0.2% for the week though it also is up 0.2% for the month.</p>
<p>Adelaide and Brisbane home prices both increased for the week, up 0.7% and 0.4% respectively.</p>
<p> </p>
<p> </p>
<p><img height="247" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-1.gif" alt="rp-data-aug-26-chart-1"></p>
<p><img height="194" width="470" src="/images/stories/2013/08/aug26rpdata/rp-data-aug-26-chart-2.gif" alt="rp-data-aug-26-chart-2"></p>
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Melbourne and Sydney home prices drop back for the week

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<p>Any future Labor government will legislate to preserve a 1750 kilometre rail corridor between Brisbane and Melbourne, Kevid Rudd announced today.</p>
<p>He has pledged $52 million over the next four years for the business case and market testing.</p>
<p>He says he will establish a high speed rail authority within six months to manage to the project.</p>
<p>They concede there isn't the money to buy the all the required land at the moment but it will enable a start.</p>
<p>"If you build it by 2035 you would spend less than Abbott's irresonsible paid parental leave scheme," Rudd told a press conference.</p>
<p>The high speed rail which will involve property resumptions could lead to property speculation and investment if it ever sees the light of day.</p>
<p>Tony Abbott says his first term focus will be on roads.</p>
<p>It would take just two hours and 44 minutes to travel between Sydney and Melbourne on the proposed line and then another two hours and 37 minutes to Brisbane. </p>
<p>It would cost an estimated $114 billion to build.</p>
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Kevin Rudd pushes plans for east coast high speed rail by 2035

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<p>Recent house price rises are not indicative of an Australia-wide price bubble, according to president of the Real Estate Institute of Australia, Peter Bushby.</p>
<p>"It's important to distinguish between a recovering housing market and an overheated market which is a precursor to a bubble," Bushby told <i>The Herald Sun</i>.</p>
<p>"Yes, some markets are performing well but this growth is not by any means Australia-wide.</p>
<p>"Hot spots like inner Sydney and Melbourne tell one type of story but try asking someone in Hobart if there's a property bubble -- they'd laugh you out of the room."</p>
<p>The comments come as those with inside access to the Reserve Bank of Australia suggest it’s <a href="/news">nervous</a> about stimulating a price bubble.</p>
<p>Last week Residex’s John Edwards said a price bubble is unlikely despite Sydney’s strong quarterly capital growth.</p>
<p>And Terry Ryder said Sydney's <a href="https://www.propertyobserver.com.au/hotspots/sydney-s-property-bubble-hysteria-is-unfounded-terry-ryder/2013081964362">property bubble hysteria is unfounded</a>.</p>
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Market in recovery not bubble: REIA

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<p>McCrae on the Mornington Peninsula and Ocean Grove and Torquay near the Great Ocean Road had the lowest clearance rates around Melbourne for 2013, according to REIV data.</p>
<p>They all had an auction clearance rate of just 30% for the year up until August 18.</p>
<p>It is less than half the Melbourne wide clearance rate of 70%.</p>
<p>Suburbs closer to Melbourne with the lowest clearance rates were Berwick in the outer south east, St Albans in the outer north west and Altona Meadows in the south west.</p>
<p>There were nine locations with clearance rates below 50%.</p>
<p> </p>
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<tbody>
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<td width="138" height="20"><strong>Suburb</strong></td>
<td width="106"><strong>Total Auctioned</strong></td>
<td width="99"><strong>Sold at auction</strong></td>
<td width="100"><strong>% Clearance Rate</strong></td>
</tr>
<tr>
<td height="20">MCCRAE</td>
<td>23</td>
<td>7</td>
<td>30</td>
</tr>
<tr>
<td height="20">OCEAN GROVE</td>
<td>20</td>
<td>6</td>
<td>30</td>
</tr>
<tr>
<td height="20">TORQUAY</td>
<td>20</td>
<td>6</td>
<td>30</td>
</tr>
<tr>
<td width="138" height="20">
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<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
BERWICK</div>
</div>
</td>
<td width="106">22</td>
<td width="99">8</td>
<td width="100">36</td>
</tr>
<tr>
<td height="20">ST ALBANS</td>
<td>37</td>
<td>14</td>
<td>38</td>
</tr>
<tr>
<td height="20">ALTONA MEADOWS</td>
<td>30</td>
<td>14</td>
<td>47</td>
</tr>
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<td width="138" height="20">
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<div> </div>
<div> </div>
<div> </div>
FRANKSTON</div>
</div>
</td>
<td width="106">52</td>
<td width="99">25</td>
<td width="100">48</td>
</tr>
<tr>
<td height="20">SOUTHBANK</td>
<td>44</td>
<td>21</td>
<td>48</td>
</tr>
<tr>
<td height="20">MARIBYRNONG</td>
<td>86</td>
<td>42</td>
<td>49</td>
</tr>
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<td height="20">
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<div>
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<div> </div>
<div>
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<div> </div>
<div> </div>
<div> </div>
<div> </div>
FRANKSTON SOUTH</div>
</div>
</td>
<td>36</td>
<td>18</td>
<td>50</td>
</tr>
<tr>
<td width="138" height="20">
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<div>
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<div> </div>
<div> </div>
SEAFORD</div>
</div>
</td>
<td width="106">26</td>
<td width="99">13</td>
<td width="100">50</td>
</tr>
<tr>
<td height="20">BROADMEADOWS</td>
<td>24</td>
<td>12</td>
<td>50</td>
</tr>
<tr>
<td height="20">STRATHMORE</td>
<td>66</td>
<td>33</td>
<td>50</td>
</tr>
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<div> </div>
<div> </div>
MORNINGTON</div>
</div>
</td>
<td width="106">39</td>
<td width="99">20</td>
<td width="100">51</td>
</tr>
<tr>
<td height="20">GREENVALE</td>
<td>37</td>
<td>19</td>
<td>51</td>
</tr>
<tr>
<td height="20">FAWKNER</td>
<td>37</td>
<td>19</td>
<td>51</td>
</tr>
<tr>
<td height="20">HADFIELD</td>
<td>29</td>
<td>15</td>
<td>52</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
WARRAGUL</div>
</div>
</td>
<td width="106">26</td>
<td width="99">14</td>
<td width="100">54</td>
</tr>
<tr>
<td width="138" height="20">
<div> </div>
<div>
<div> </div>
<div> </div>
<div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
<div> </div>
EDITHVALE</div>
</div>
</td>
<td width="106">28</td>
<td width="99">15</td>
<td width="100">54</td>
</tr>
<tr>
<td height="20">MELBOURNE</td>
<td>142</td>
<td>76</td>
<td>54</td>
</tr>
<tr>
<td height="20">PASCOE VALE</td>
<td>112</td>
<td>60</td>
<td>54</td>
</tr>
<tr>
<td height="20">SOUTH KINGSVILLE</td>
<td>22</td>
<td>12</td>
<td>55</td>
</tr>
<tr>
<td height="20">MOOROOLBARK</td>
<td>20</td>
<td>11</td>
<td>55</td>
</tr>
<tr>
<td height="20">SOUTH MORANG</td>
<td>44</td>
<td>24</td>
<td>55</td>
</tr>
<tr>
<td height="20">ALTONA NORTH</td>
<td>45</td>
<td>25</td>
<td>56</td>
</tr>
</tbody>
</table>
<p>Source REIV</p>
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Berwick, St Albans and Altona Meadows have lowest clearance rates in Melbourne: REIV

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<p>Granny-flats have renewed interest given recent law changes in WA, but are they really a good idea for investors?</p>
<p>Here are the top four reasons for and against granny-flats:</p>
<p><b>For</b></p>
<p><b>Increase your property’s rental</b> – adding a granny-flat can add a significant amount of rental income onto an investment property. It means you’ll get two income streams from a single lot.</p>
<p><b>Turn a negatively geared property into a positively geared property</b> – This extra income can turn a negatively geared property into a positively geared one. It may mean you can stop claiming deductions but at least you’re earning some cash.</p>
<p><b>Many tenants prefer them to apartments – </b>granny-flats allow tenants access to a back-yard, which means they’re often pet friendly and utilities are often included in the rent due to the complications of separate metering.</p>
<p><b>Always have an income from the property </b>– If one tenant vacates then you’ll always have the other to see you through the vacant period. It’s not a lot of money but it keeps the cashflow going.</p>
<p> </p>
<p><b>Against</b></p>
<p><b>Reduced rent on the main house </b>– Tenants will demand a lower rent on the main house if they are forced to live with other tenants in their back yard.</p>
<p><b>Longer vacancy periods – </b>Even with a reduced rent there is often a longer wait on finding tenants on a house with a granny-flat. Many people simple won’t do it due to concerns about neighbour disputes and loss of privacy.</p>
<p><b>It may not add value to the house – </b>granny-flats can cost a lot to build – maybe in the vicinity of $100,000 but they don’t add that much to the house, if at all. Land and houses increase in value, but granny-flats don’t. And they’re not even that special any more in some suburbs, especially across Sydney that have had a surge in granny-flat activity. When it comes to resales granny-flats might reduce your buying interest to investors, with own occupiers taking their interest elsewhere.</p>
<p><b>They’re ugly – </b>They’re not very pretty things to look at. There’s no getting round the fact that granny-flats detract from the outlook of the property, which could diminish it’s value.</p>
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The four pros and four cons of building a granny-flat

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<p>The self-managed super fund “sharks are circling”, according to Tom Garcia, chief executive of the Australian Institute of Superannuation Trustees.</p>
<p>Get rich quick schemes from unregulated property spruikers, as well as the ability to borrow in SMSFs was creating a dangerous situation which could lead to a failure in the financial sector, Garcia told <i>The Weekend Australian.</i></p>
<p>"Someone's probably working on it now,” he said.</p>
<p>The $500 billion SMSF sector now represents one third of the superannuation industry in Australia but Garcia says many of those investors simply don’t understand the risk they are getting into and fail to diversify.</p>
<p>"Most people don't know their ability to cope with risk until they experience an adverse outcome, by which time it may be too late,” he said.</p>
<p>"It is not well understood that an SMSF trustee has a fiduciary duty to act in their own best interests to provide for their retirement.</p>
<p>"By law, SMSFs are required to have a documented investment strategy.</p>
<p>"While it is up to trustees to determine this strategy, it's generally agreed that a diversified investment portfolio will provide the best outcome, both in terms of risk and return. We would caution against an SMSF being invested in a single asset class such as domestic property.</p>
<p>"SMSF trustees need to be aware that in pension phase there is a legislated level on income that must be drawn down that increases as they age.</p>
<p>"A risk of being heavily weighted into a single, relatively illiquid asset like domestic property is a possible forced sale due to pension income requirements which could produce a lower capital return on the investment.</p>
<p>He says the dangers of SMSF schemes mean many investors will be stung and will have to rely heavily on the pension scheme.</p>
<p>"While we don't represent SMSFs, we recognise they have a legitimate role to play in our super system and it would be a problem for all taxpayers if SMSFs were to fail through bad investment advice, resulting in disappointed super investors having greater reliance on the age pension," he  said.</p>
<p>"If that happened, more retirees will be dependent on the age pension and more people will lose confidence in the system, as we saw with the collapse of Storm Financial and Westpoint.”</p>
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SMSF sharks are circling property investors: AIST

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<p>Economic commentator David Bassanese says the Reserve Bank of Australia policies will likely push up property prices, possibly into a "mini-bubble" but not into any sort of major boom. </p>
<p>“Although the RBA naturally does not want to see a speculative bubble develop, it probably concedes that further nearer-term house price gains will help the economy’s transition – by improving household wealth and consumer spending propensity and making it more profitable for developers to build new homes,” Bassanese wrote in the <i>Australian Financial Review</i>.</p>
<p>“That said, further strong house price gains are not assured. Unlike in 2009-10, for example, one major headwind in the coming year should be higher unemployment. After all, the key reason interest rates are so low is because the economy is growing at a below-trend pace, and even the Rudd government recently conceded in its pre-election economic statement that the unemployment rate was likely to rise from 5.7% to 6.25% by June 2014.</p>
<p>Bassanese says the property market is strengthening with clearance rates up in Sydney and Melbourne up as well as increased lending to investors.</p>
<p>He says despite recent house price gains the trend will continue, driven by cheap home loans.</p>
<p>“Despite concerns about high Australian house prices, it may surprise some to know that the share of household disposable income required to meet monthly mortgage repayments on an average-priced Australian home is lower than its 20-year average,” he wrote.</p>
<p>“That’s because interest rates are very low and house prices – at least over the past decade – have only broadly matched growth in household income.”</p>
<p>He says recent RBA statements suggest a leaning towards another rate cut which presents the risk of a mini bubble.</p>
<p>“There’s a modest risk that a mini-bubble in house prices could reappear if the RBA keeps interest rates low enough for long enough to support the economy.”</p>
<p>“With mining investment turning down and prospects for non-mining business investment – such as office construction – still quite subdued, the RBA is counting on a decent upturn in the housing sector to keep the economy afloat over the next year or so.”</p>
<p>But he says if house prices do rise it’s more in the nature of a cyclical trend rather than any sort of boom.</p>
<p>“Doomsayers will warn of a property bust as and when prices edge lower, and spruikers will talk of a new boom whenever prices rise. But the reality is that house prices are likely to continue to move broadly in line with household income (that is, 3 to 4 per cent a year), albeit with modest cycles around this trend in line with cyclical shifts in interest rates and unemployment.”</p>
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Modest risk of mini-bubble in house prices, but gains likely to be in line with household income: David Bassanese

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<p>A heritage listed freestanding building in Melbourne’s Chinatown has sold after auction for $2.7 million, according to industry sources.</p>
<p>The last freestanding commercial building like this to come to auction in Chinatown was in 2003. This latest auction attracted 120 people and six bidders – four Chinese, one Malaysian and one local. The local ended up buying the property but has not disclosed their intentions.</p>
<p>It passed in at $2.35 million.</p>
<p>“We’re starting to see non property people consider the purchase of commercial investments in the CBD as a genuine alternative to cash deposits, the volatile share market and straight residential investment, which is driving competition for assets when they come to the market,” CBRE agent Josh Rutman says.</p>
<p>The building, at <a href="https://www.realestate.com.au/property-warehouse-vic-melbourne-114263463">11 Heffernan Lane</a> (pictured above) was built in 1891 for solicitor M Mornane as a four level brick warehouse.</p>
<p><img style="display: block; margin-left: auto; margin-right: auto;" alt="chinatown_aug_28" height="600" width="386" src="/images/stories/2013/08/chinatown_aug_28.jpg"></p>
<p>It was then occupied by the Wing Ching café in 1892 run by Ah Gee.</p>
<p>Between 1900 and 1915 it was occupied by Quon Che On Café and then Chung Wah Café – which at one point was the only remaining Chinese café in the street. According to historian Weston Bate, it “helped to wean Melburnians from European cuisine”.</p>
<p>The upper floors were used as warehouse space and the still visible gantry beam was used for hoisting goods up.</p>
<p>The building was damaged by a fire in 2010 but has been fully refurbished.</p>
<p>In October 2012 it was taken to market with an asking price of $3.3 million, though it was marketed directly by the owner in a different campaign.</p>
<p>It’s next door to the New Kum Den café.</p>
<p>The lane was named in 1857 after Rolly Heffernan, owner of the Melbourne Hotel in Lonsdale Street.</p>
<p>It was home to several Chinese restaurants in the early 1900s.</p>
<p>The building has an existing liquor license and a potential income of $200,000 per annum.</p>
<p>The fully restored building was marketed to suit retail, commercial and residential uses. It is on a 113 square metre lot.</p>
<p>It was sold by Josh Rutman from CBRE.</p>
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Melbourne Chinatown building sells for $2.7 million

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360965]</p>

<p>“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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360981]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360966]</p>

<p>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.</p>

<p>“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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360969]</p>

<p>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.</p>

<p data-end="8307" data-start="8063">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.</p>

<p data-end="8543" data-start="8312">“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.”</p>

<p data-end="8915" data-start="8548">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.</p>

<p>The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.</p>

<p>[smartcode_project_cta:default project_id=149670]</p>


Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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_" /></p>

<p>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.</p>

<p>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.</p>

<p>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."</p>

<p>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.</p>

<p><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" /></p>

<p>Campbelltown has been starved of new residential developments in the last decade.</p>

<p>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.</p>


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

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<p>A 60-apartment building nine storeys tall would be a rarity almost anywhere along this stretch of Moreton Bay, but that's exactly what's been lodged for a modest Deception Bay street better known for its single-storey weatherboard homes.</p>

<p><a href="https://www.apartments.com.au/developers/sherlock-construction-homes">Sherlock Construction Homes</a> is seeking to push Deception Bay’s emerging medium-density housing profile higher, lodging plans for a nine-storey apartment building near the suburb’s shopping centre and foreshore.</p>

<p>Dubbed Grosvenor Apartments, the proposal at 14-20 Grosvenor Terrace would replace two detached homes with a new building designed by&nbsp;<a href="https://www.apartments.com.au/architects/mode">Mode Design</a>&nbsp;which would&nbsp;reach nearly 30 metres, well above the site’s mapped 21-metre building height.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="86c21a25-5a97-4ca7-a361-80757137ea5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%20front.png?VersionId=aXIujfvEhH33sLHOEjHFv9Ii6qxSvAF4" /></p>

<p>The apartment mix is weighted toward larger homes, with 14 three-bedroom apartments, 31 two-bedroom apartments and 15 one-bedroom apartments. Six apartment types are spread across the floors, ranging from 66 sqm one-bedroom units through to three-bedroom apartments of 116 sqm, most with private balconies or terraces.</p>

<p>Levels one through seven follow a consistent layout of six to eight apartments per floor arranged around a central lift and stair core, with the top floor, level eight, trading one apartment for a landscaped community breakout space rather than repeating the standard layout below.</p>

<p>Ground floor is dedicated to arrival and services, with a lobby, mailroom and manager's office, alongside 91 car spaces.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="b098bde0-5fe1-4e6c-9601-e5446612e5fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20podium.png?VersionId=A0hfENMNxSxkfh9Jl6D4WJ9XIraeOukA" /></p>

<p>Mode Design's brief describes a "serene coastal-inspired design blending soft curves, natural textures and light-filled spaces to reflect the relaxed Deception Bay lifestyle."&nbsp;</p>

<p>The material palette leans on white and grey render, timber-look aluminium screening and stacked-brick-look finishes, with hanging greenery and vine planting proposed across balcony edges and ground-level walls.&nbsp;</p>

<p>Balconies feature asymmetrical geometries intended to vary the building's rhythm rather than repeat a single module up the tower, while lush planting is concentrated over the entry and level one balconies to soften the building's base.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="c05c5693-3e00-42d0-b075-55c36094f4db" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%201.png?VersionId=cMKJgBsBaaVCd2dA5O22SOT38OT_.BPA" /></p>

<p>The design evolved following an April 2025 prelodgement meeting with council. At that stage, the project was conceived as a seven-storey building containing 45 apartments. The subsequently lodged scheme increases the development to nine storeys and 60 apartments while introducing one-bedroom residences to the mix.</p>

<p>Zone Planning argues the additional scale reflects the site's position within an area earmarked for increased residential intensity. The planning report points to the North Lakes-Redcliffe-Moreton Bay Rail corridor strategy, which identifies Deception Bay as a district-level activity centre and supports greater housing choice within urban neighbourhoods.</p>

<p>Market Square Deception Bay, Deception Bay Sports Centre, Deception Bay State School, public transport, community facilities and the Moreton Bay foreshore are all identified within approximately one kilometre of the site, while the property falls within a 400-metre walking catchment of Market Square.</p>

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

<p data-end="587" data-start="368">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.</p>

<p data-end="778" data-start="589">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.</p>

<p data-end="907" data-start="780"><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.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">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.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">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.</p>

<p data-end="1908" data-start="1678">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.</p>

<p data-end="2142" data-start="1910">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.</p>

<p data-end="2142" data-start="1910"><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" /></p>

<p data-end="2308" data-start="2144">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.</p>

<p data-end="2648" data-start="2310">"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.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">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.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"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."</p>

<p data-end="3818" data-start="3664">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.</p>

<p data-end="4076" data-start="3820">"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.</p>

<p data-end="4375" data-start="4078">"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."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"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."</p>

<p data-end="4910" data-start="4743">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.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


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

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<p data-end="600" data-start="394">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.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">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.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">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.</p>

<p data-end="1357" data-start="1161">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.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">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.</p>

<p data-end="2269" data-start="2047">"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.</p>

<p data-end="2430" data-start="2271">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.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">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.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"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.</p>

<p data-end="3400" data-start="3216">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.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

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Alistair Walsh

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