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A potential property boom could force the Reserve Bank of Australia to raise interest rates, according to veteran financial journalist Robert Gottliebsen.
He says the RBA has told the big banks that a housing price boom is currently its "greatest fear" as prices are already high by most world standards.
This echoes an earlier report by Terry McCrann who says the<a href="/news"> RBA is worried about a property bubble</a>.
“(Banks) are currently fanning demand by encouraging people to buy dwellings, both privately and as investors, with generous credit and low rates,” Gottliebson wrote in Business Spectator on Wednesday.
“But on the supply side the banks reduce the supply of dwellings because they are reluctant to take risks in lending to developers because history has shown that almost all big bank losses have come via property development loans during booms.”
He says this is pushing up apartment prices and limiting supply as developers seek other financiers who want higher returns.
This is then exacerbated by the actions of could and government planners as well as “cartel like arrangements between large commercial builders and the big building unions”.
Any potential property boom is likely to start in the tightly-supplied inner city apartment market in Melbourne and Sydney, driven by investors, but would spread to suburban areas as prices increase and yields decrease.
“If that inner suburban boom gets out of hand be ready to change the interest rate forecasts,” Gottliebsen writes.
"The big banks have been quietly told by the RBA that a dwelling price boom is its greatest fear in the current climate because Australian dwelling prices are already high by most world standards. If a new housing price boom breaks out, then the interest rates will have to rise." 
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awalsh-7Ub9EypybQ

RBA tells banks dwelling price boom was "its greatest fear": Robert Gottliebsen

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Perth home prices have increased 10% over the past year  - double the capital city average, according to RP Data.
Sydney leads so far in 2013 though, with prices up 7% in 2013 and 1% in the past month though they have dropped slightly in the past week.
Melbourne prices are up 4.9% so far in 2013 and 0.8% over the past month.
Adelaide is the only city where prices have dropped this year.
 
<img height="249" width="470" src="/images/stories/2013/08/rp-data-chart-1.jpg" alt="rp-data-chart-1">
<img height="203" width="470" src="/images/stories/2013/08/rp-data-chart-2.jpg" alt="rp-data-chart-2">
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Perth prices up 10% over past year: RP Data 

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The National Rental Affordability Scheme is facing hurdles with many banks refusing to lend to investors buying properties developed under the scheme.
The government sponsored investment scheme allows certain developers to build properties which are then sold to investors who rent it out at 20% below the market rate to eligible renters.
But developers are reportedly selling the properties at a price above what the banks think they are worth.
AVJennings chief executive Peter Summers says companies such as his own are having difficulty settling sales of NRAS properties.
"You can get sales away but they're falling over because of valuation issues," Summers told The Australian.
"I think it's a very good product class for investors but the banks are still a reluctant to lend to NRAS properties.”
Gavin Hulcombe from Herron Todd White says the complexity of the scheme combined with the valuation differences mean banks are unwilling to lend on the properties.
"It's the complexity of the schemes, particularly the leases and the exit and entry clauses that are causing concern,” Hulcombe said.
He says commission payments from developers to financial planners to sell the properties had pushed up the price to complicated the valuation.
Property commentator Margaret Lomas recently write that <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/is-there-really-government-income-guaranteed-housing-ask-margaret/2013081464151">re-sellers can receive a $25,000 plus commission</a> to sell NRAS properties which inflate the price.
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Banks baulking at lending on many NRAS properties as selling commissions cloud valuations

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Bread and butter suburbs were the most profit earning suburbs across Brisbane over the last year. In suburbs like Mount Gravatt all of the house sales over the past year sold for more than their previous sale price, according to RP Data.
Across Brisbane, five out of ten house sales went for more than their previous sale price, according to the REIQ.
There were two suburbs with a 100% profit making run - Mount Gravatt, in the south east and Mount Ommaney in the south west.
The new RP Data information is based a slightly tweaked algorithm using Automated Valuation Models which may slightly differ from numbers in Property Observer's system.
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<td colspan="4" width="458" height="20">Highest proportion of profit making sales</td>
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<td height="20">Suburb</td>
<td>Repeat Sales</td>
<td>% of sales over past year</td>
<td>Median value</td>
</tr>
<tr height="20">
<td height="20"><a target="_blank" href="/news">Mount Gravatt</a></td>
<td align="right">31</td>
<td align="right">100%</td>
<td align="right">$491,186</td>
</tr>
<tr height="20">
<td height="20"><a target="_blank" href="/news">Mount Ommaney</a></td>
<td align="right">13</td>
<td align="right">100%</td>
<td align="right">$787,982</td>
</tr>
<tr height="20">
<td height="20"><a target="_blank" href="/news">Holland Park</a></td>
<td align="right">86</td>
<td align="right">98%</td>
<td align="right">$524,812</td>
</tr>
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<td height="20"><a target="_blank" href="/news">Taringa</a></td>
<td align="right">43</td>
<td align="right">98%</td>
<td align="right">$754,145</td>
</tr>
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<td height="20"><a target="_blank" href="/news">Everton Park</a></td>
<td align="right">89</td>
<td align="right">97%</td>
<td align="right">$472,513</td>
</tr>
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<td height="20"><a target="_blank" href="/news">Nundah</a></td>
<td align="right">58</td>
<td align="right">97%</td>
<td align="right">$576,279</td>
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<td height="20"><a target="_blank" href="/news">Eight Mile Plains</a></td>
<td align="right">85</td>
<td align="right">96%</td>
<td align="right">$576,836</td>
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<tr height="20">
<td height="20"><a target="_blank" href="/news">Woolloongabba</a></td>
<td align="right">28</td>
<td align="right">96%</td>
<td align="right">$618,539</td>
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<td height="20"><a target="_blank" href="/news">Kenmore</a></td>
<td align="right">109</td>
<td align="right">96%</td>
<td align="right">$548,286</td>
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<td height="20"><a target="_blank" href="/news">Chelmer</a></td>
<td align="right">25</td>
<td align="right">96%</td>
<td align="right">$812,458</td>
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<td height="20"><a target="_blank" href="/news">Spring Hill</a></td>
<td align="right">25</td>
<td align="right">96%</td>
<td align="right">$786,271 
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Source: RP Data
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Mount Gravatt heads top 11 profit making suburbs in Queensland

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American property website giant Zillow has bought the New York online property listing StreetEasy for US$50 million.
The seven-year-old start-up provides a comprehensive for-sale and for-rent listing through partnership with New York real estate agencies.
The website has 1.2 million monthly users and 34 employees.
Though New York focused it also has listings for properties in Philadelphia, Washington DC, South Florida, New Jersey and the Hamptons on Long Island.
"StreetEasy is an incredibly strong and recognised brand in New York City," Zillow chief Spencer Rascoff said in a statement.
"Simply put, StreetEasy has cracked the code in New York.
“They now have a local network effect where nearly every New York broker is active on StreetEasy because of the site’s large audience and comprehensive data.”
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US property website Zillow buys StreetEasy for US$50m

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John Edwards, chief executive of Residex, says a property bubble in Australia is unlikely.
“While there is a lot of talk about the market taking off and suggestions that we are about to experience another price bubble there is little evidence to support this,” Edwards wrote on his blog on Friday.
“A more accurate statement would be that while the market remains fragile, it looks as though it is moving to a more normal growth phase."
“A period of excessive price growth is unlikely as the economy is not strong enough to support such an outcome. We are also likely to see increases in unemployment, which will also encourage a level of conservatism within the community. Additionally, interest rates will rise from the current historical low point.”
He says housing affordability is still difficult for some people but it is better than it has been for many years.
He says the property markets are rebounding on the back of lower interest rates and a lack of available stock.
Residex found that in the last quarter, house and land values have increased by 0.59% across Australia while units increased 1.89%.
It found some capital cities had very strong results in May and June but reverted to a price reversal in July.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/08/residex-chart-aug-20-big.gif" title="Click to enlarge"><img src="/images/stories/2013/08/residex-chart-aug-20-small.gif"></a>
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Property bubble unlikely as Sydney records strongest capital growth for housing last quarter: John Edwards

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Melbourne's inner north is home to its most walkable suburbs - a trait which pushes up home prices.
Property research firm The Secret Agent There says there is a strong correlation between the walkability of a suburb and its median price.
Suburbs with a high walkability score consistently have a higher median price than suburbs with a low walkability score.
The scores are calculated based on the average distance to local amenities and the population density. They are produced by an algorithm on www.walkscore.com.
It found that on average, every five point increase in Walkscore value between 60 and 100 is worth approximately $298 per square metre for houses.
The study excluded walk scores below 60 as they did not occur within the inner city.
Click to enlarge:
<a title="Click to enlarge" href="/images/stories/2013/08/walkability-aug-5-map-big2.gif" rel="shadowbox"><img src="/images/stories/2013/08/walkability-aug-5-table-small-2.gif"></a>
 
“It is interesting to note that the most expensive suburbs were not necessarily the most walkable.”
“As the demand for walkability continues to increase, it would be reasonable to expect that there will be a shift in the desirable locations to live. Where the lifestyle factors become the new prestige”
The authors concede that while it’s certainly not a sure-fire assessment of a suburb’s worth, it does give “a good indication of the positive value of living in an area with a mix of local walkable amenities”.
Click to enlarge:
<a rel="shadowbox" href="/images/stories/2013/08/walkability-aug-5-table-big.gif" title="Click to enlarge"><img src="/images/stories/2013/08/walkability-aug-5-table-small.gif"></a>
Most walkable:
10. Windsor
9. Collingwood
8. South Melbourne
7. East Melbourne
6. South Yarra
5. St. Kilda
4. Melbourne
3. Fitzroy North
2. Fitzroy
1. Carlton
­­
 
Least walkable:
10. Croydon North
9. Lilydale
8. Altwood
7. Endeavour Hills
6. Mount Evelyn
5. Rosebud West
4.  Roxburgh Park
3. Belgrave South
2. Narre Warren South
1. Derrimut
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Carlton tops list of Melbourne's most walkable suburbs

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The gap between real estate agent price guides and actual auction results has jumped this year in Sydney, according to a survey by Intelligent Property Services.
There is now a 12% variation between auction price guides and actual results.
The 2013 survey analysed 39 auction sales so far this year ranging from Sydney’s eastern suburbs, to Burwood on the outer fringe of the inner west with a few sales on the lower north shore – all traditional auction hotspots in Sydney. The sales range from late February to the end of July.
In 2012 there was an 9% variation and in 2011 an 8% variation.
Head of research at Intelligent Property Services, Joe Kotevich, says the surges comes more as a result of buyer demand than any deliberate lowballing by agents.
“The average variation for 2013 is quite high and dramatically elevated compared to the results recorded for 2011 and 2012,” Kotevich says.
“The year to date is also consistently high (rather than having a few outliers that throw the average) and we believe this is a function of a large number of buyers, fuelled by positive market sentiment, low interest rates and decreased stock on the market, surpassing both vendor and agent expectations in heated auction environments.”
None of the sales recorded sold for below agent expectations.
The sale with the greatest gap between price guide and actual result was a very tired 1900-built three bedroom terrace in Newtown, at <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/newtown/properties/276925" target="_blank">182 Denison Street</a> (pictured below). The pre-auction guide suggested a price of $600,000, but it actually sold for $800,000 in May – a price difference of 25%.
{yoogallery src=[images/stories/2013/08/aug20new2]}
And <a href="https://www.firstnational.com.au/?pagecall=property&amp;propertyID=2396296">74 Sophia Street</a>, a dilapidated terrace in Surry Hills (pictured below), sold for $894,000 in July with a price guide of $700,000 – a 21.7% difference. There were reportedly 18 registered bidders at the auction of the 105 square metre block. It was bought by a builder in his 20s.
{yoogallery src=[images/stories/2013/08/aug20surry]}
And <a href="https://www.domain.com.au/Property/Sold/House/NSW/Enmore/?adid=2010476662" target="_blank">9 Marian Street</a>, a newly renovated terrace in Enmore (pictured below) sold for $1.004 million in June with a price guide of $800,000 – a 20.32% difference. Before the auction Sydney Morning Herald tipped it offering “good bang for your buck” with its low price guide.
{yoogallery src=[images/stories/2013/08/aug20en]}
Intelligent Property Services obtains the price guides after the first week of showing the property, allowing time adjustment of expectations. The auctions are monitored following inquiry from its buyers agent department.
The results are in line with the recent price discrepancies recorded in Melbourne from a Property Observer survey.
A Property Observer analysis of 68 auction sales since the end of the July school holidays found <a href="https://www.propertyobserver.com.au/victoria/melbourne-auction-homes-selling-10-over-advertised-price/2013080863977" target="_blank">more than 90% sold for above the advertised price guidance bracket</a> – with an average price variation of 11%.
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Sydney auctions selling 12% above price guides

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There are 32 regions in Australia where the property market is either at the bottom of the market or at the start of a recovery, according to Herron Todd White.
With 11 appearances, Queensland has the most locations on the list.
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<td width="127" height="20">Region</td>
<td width="234">State of market</td>
<td width="39">State</td>
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<tr height="20">
<td height="20">Albury (h)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Albury (u)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Central Coast (u)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Central Coast (u)</td>
<td>Rising market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Coffs Harbour (h)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Coffs Harbour (u)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Dubbo (u)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Echuca (u)</td>
<td>Start of recovery</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Griffith (h)</td>
<td>Start of recovery</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Griffith (u)</td>
<td>Start of recovery</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Newcastle (h)</td>
<td>Start of recovery</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Newcastle (u)</td>
<td>Start of recovery</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Tweed Coast (h)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Tweed Coast (u)</td>
<td>Bottom of market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Wollongong (h)</td>
<td>Bottom of market - rising market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Wollongong (u)</td>
<td>Bottom of market - rising market</td>
<td>NSW</td>
</tr>
<tr height="20">
<td height="20">Brisbane (h)</td>
<td>Start of recovery</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Brisbane (u)</td>
<td>Start of recovery</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Bundaberg (h)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Bundaberg (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Cairns (h)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Cairns (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Hervey Bay (h)</td>
<td>Start of recovery - bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Hervey Bay (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Ipswich (h)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Ipswich (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Mackay (h)</td>
<td>Bottom of market - rising market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Mackay (u)</td>
<td>Bottom of market - rising market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Rockhampton (h)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Rockhampton (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Sunshine Coast (h)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Sunshine Coast (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Toowoomba (h)</td>
<td>Start of recovery - bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Toowoomba (u)</td>
<td>Rising market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Townsville (h)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Townsville (u)</td>
<td>Bottom of market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Whitsunday (h)</td>
<td>Bottom of market - rising market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Whitsunday (u)</td>
<td>Bottom of market - rising market</td>
<td>QLD</td>
</tr>
<tr height="20">
<td height="20">Adelaide (h)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Adelaide (u)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Adelaide hills (h)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Adelaide hills (u)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Barossa Valley (h)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Barossa Valley (u)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Iron Triangle (h)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Iron Triangle (u)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Mount Gambier (h)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Mount Gambier (u)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Riverland (h)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Riverland (u)</td>
<td>Bottom of market</td>
<td>SA</td>
</tr>
<tr height="20">
<td height="20">Ballarat (h)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Ballarat (u)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Gippsland (h)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Gippsland (u)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Latrobe Valley (h)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Latrobe Valley (u)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Melbourne (h)</td>
<td>Start of recovery</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Melbourne (u)</td>
<td>Start of recovery - bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Mildura (h)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Mildura (u)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Shepparton (h)</td>
<td>Declining market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Shepparton (u)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Wodonga (h)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Wodonga (u)</td>
<td>Bottom of market</td>
<td>VIC</td>
</tr>
<tr height="20">
<td height="20">Southwest WA (h)</td>
<td>Start of recovery</td>
<td>WA</td>
</tr>
<tr height="20">
<td height="20">Southwest WA (u)</td>
<td>Start of recovery</td>
<td>WA</td>
</tr>
</tbody>
</table>
Source: HTW</body></html>

Queensland tops list of 32 recovering or bottomed out property markets: Herron Todd White

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Bendigo and Adelaide Bank has posted a cash profit of $348 million in the year to June 30, some 7.7% more than its $323 million profit last year.
Its full-year net profit was $352.3 million, up 80.7% on last year $137.1 million which was hit by a $95 million writedown on its margin lending and wealth management divisions.
It said the profit it makes on loans was under pressure as low official cash rates caused competition for retail deposits and compression.
Managing director Mike Hirst says the bank has had solid results despite difficult trading conditions.
“Consumer confidence and demand for credit remains low, and competition remains very strong for retail deposits,” he says.
He says the low official interest rates nice for existing borrowers but says a broad return of consumer confidence is yet to come.
“While we expect to see relatively subdued credit growth in the coming 12 months, we remain confident that the unique Bendigo and Adelaide Bank business model will continue to resonate with customers.”
He says the support of customers and communities and its conservative funding and balance sheet structure meant it is well placed to benefit from any improvement in market sentiment and demand for credit.
"Our industry-leading retail and business customer satisfaction levels and the maintenance of an efficient business model becomes even more important in this environment," he said.
"At Bendigo and Adelaide Bank we will continue to leverage our unique strengths to take advantage of the significant opportunities that exist for our business."
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Bendigo and Adelaide Bank posts a cash profit 7.7% above last year

<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.

&nbsp;

[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.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Alistair Walsh

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