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A Hong Kong resort developer has bought Noosa Springs Golf Resort, an 18-hole golf course and prestige residential development in Queensland, for $15 million.
Golden Horse ????(??)???? has acquired the golf course, club-house, associated businesses and 23 vacant residential lots in the 103 hectare community developed by the Starkey family since 1997.
They entered into contract to buy it from Noosa father and son Alan and Phil Starkey in mid-July.
At the time Phil Starkey said the buyers were seeking to expand its resort development internationally having already made investments in Singapore, Japan and Thailand.
Golden Horse also owns a 14 square kilometres resort development in Guangzhou which includes two 27-hole championship golf courses.
Starkey's StarCo Group first developed the community in 1997 and. He took it to market in October 2011.
Golf course architect Graham Papworth designed the 72-par golf course.
<a target="_blank" href="https://www.noosasprings.com.au/">Noosa Springs</a> also includes a day spa, a restaurant, a conferencing and function venue, a boutique fitness centre and resort accommodation.
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Hong Kong resort developer ????(??)???? pays $15 million for Noosa golf course

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Gold Coast apartment supply has reached its lowest level in a decade with no new stock added to the market in the June quarter while sales were steady, according to Colliers International.
It found sales volumes have continued to be strong and the supply of new apartments has dropped to around 930 apartments.
The best performing region in the area was the North Shore Precinct, with a total of 58 sales across eight projects, including 32 sales in Etesian at Harbour Quays.
The sales rate in the Southport/Labrador precinct lifted 44% to an 18 month high, with 23 unconditional sales across six projects.
In Surfers Paradise, the sales rate lifted for the third consecutive quarter to record 46 sales across four projects with 22 sales in Soul, 13 in the Hilton Orchid Tower and 10 sales in the Hilton Boulevard Tower.
New apartment sales on the Gold and Tweed Coasts fell slightly over the June quarter after rising for the previous five consecutive quarters. But overall volumes were significantly stronger over the first half of the year compared to the same period last year.
There were 166 sales during the June quarter, putting it ahead of the same period last year by 120 sales or 49%. Colliers says the market is on track to have a significantly stronger year than 2012.
The residential market on the Gold Coast has now turned around and is on the way back up, according to Tony Holland, Colliers International Residential Director.
“The first signal that the market was improving was a rise in volumes, which was first evident in the March quarter of last year,” he said.
“Sales volumes have continued to increase over the course of 2012 and over the first quarter of this year, and while this quarter has seen a slight fall, this is due to the lack of availability of stock rather than a lack of interest from buyers.”
There were are two or three new apartment projects that likely to be launched off the plan in the next six months with more due to follow after mid-2014.
But he says based on the current sales rate, the remaining new apartment stock could be absorbed within 17 months leading to a serious undersupply, particularly in the low rise sector, until the new projects are launched.
“Buyers are identifying that the fundamentals of the Gold Coast market are strong, and this increasing buyer demand, coupled with an undersupply, will lead to growth in prices over time,” Holland says.
“Over the past year projects that had a significant overhang of stock, such as Oracle, Hilton and Soul have sold a significant number of apartments and people are buying into those buildings with confidence.
“They know the future looks good for the Gold Coast, with around 10,000 people moving to the region every year and significant projects such as the 2018 Commonwealth Games set to give the area a huge boost.”
It found seven apartment projects across the Gold and Tweed Coasts sold out during the June quarter.
There are now just 28 projects remaining in Colliers’ survey going into the second half of 2013, the lowest number of projects recorded by the group since 2001.
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Gold Coast apartment supply reaches 10 year low: Colliers

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East Perth had the greatest increase in notional income per person per household between 2006 and 2011, according to demographer and News Limited columnist Bernard Salt.
It's thereby been identified as one of Australia's top suburbs generating interest among key demographic drivers, including empty nesters, young professionals and DINKs (double income, no kids).
Salt says its a pointer to an increased ability among its residents to take out a mortgage – and an indication that a suburb is about to take off.
In fact Perth was home to the top three suburbs with increasing income, according to his piece published in The Australian.
“Western Australia's mining boom created an income-earning capacity and attracted an incoming or an evolving demographic that wanted an inner-city lifestyle on the edges of the CBD in places such as East Perth, Rivervale and Kings Park,” Salt writes.
Sydney’s Waterloo and Brisbane’s Murarrie had the next highest changes in earning power.
The top five suburbs are all located within 5 kilometres of the CBD and have a number of new apartments or inner-city townhouse redevelopments which are attracting a new demographic.
Salt found the average household size in the top four postcodes is between 1.7 and 2.2 people - below the Australian average of 2.6 people. In Murarrie it’s 2.7 people, which indicates there will be a further transition towards smaller households and apartments, according to Salt.
“Those postcodes that are taking off are located in the capital city of a state that has prospered (Perth) and where the property offering genuinely meets the aspirations of a rising demographic force,” Salt writes.
“In places such as Kings Park, for example, this probably includes fly-in, fly-out miners as well as the full range of advisers and technicians and financiers and incoming expats associated with mining.
“Then there is what I call the spillover effect: the gentrification of Brisbane's Cannon Hill spills into neighbouring Murarrie. Inner-city transformation without large-scale redevelopment projects (as in Waterloo for example) applies best to places where the housing stock is mixed and where there is an increasingly vibrant local urban environment.
“This includes places such as North and South Melbourne, Sydney's St Peters and Dulwich Hill and Brisbane's Albion.”
In Melbourne, the income per person increased most significantly in the central postcodes.
At the national level the average growth in income was 20%.
<a href="/news">East Perth</a> – 65%
<a href="/news">Rivervale</a> – 58%
<a href="/news">Kings Park</a> – 55%
<a href="/news">Waterloo</a> – 53%
<a href="/news">Murarrie</a> – 49%
<a href="/news">Officer</a> – 48%
<a href="/news">Athol Park</a> – 48%
<a href="/news">Cannon Hill</a> – 44%
<a href="/news">Collingwood</a> – 44%
<a href="/news">Dawes Point</a> – 44%%
<a href="/news">St Peters</a> – 41%
<a href="/news">North Melbourne</a> – 40%
<a href="/news">South Melbourne</a> – 40%
 
Do your own research
Don't wait for Bernard Salt to do the research, start looking at ABS Census date yourself using our <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/the-property-observer-guide-to-abs-census-data-research-for-smart-property-investors/2013081664267?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">guide to Census data for property investors</a>.
 
Image courtesy of  <a target="_blank" href="https://www.flickr.com/photos/aang14/">Andru1308/flickr</a>.
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Rising incomes pointing to 13 emerging suburbs for investment potential: Bernard Salt

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Investment bank UBS says the Australian housing market is not at risk of becoming a bubble and is instead warming up.
“The bottom line is that Australian housing is clearly warming up, led by Sydney, but nationally remains a fair distance from anything resembling a bubble,” economist Scott Haslem told his clients this week which were reported by The Australian.
“If the Reserve Bank deemed it appropriate to reduce the cash rate further, it is almost certain this would be a response to weaker labour market and an unemployment rate rising through 6%. This is unlikely to be an environment we would need to be concerned about rapidly rising house prices, or a property bubble, in Australia.”
The comments came as there has been a surge in auction clearance rates, particularly in Sydney, and house price rises following record low rate cuts by the Reserve Bank of Australia.
Haslem says Sydney’s auction clearance rate being at a three year high put it at the most risk of over-heating.
UBS says home prices are rising at rate of 8% per annum this year while auction clearance rates in Sydney and Melbourne are at more than 70%, up from a 54% average last year.
On Tuesday UBS increased its residential house price forecasts to 10% for this year and 5% for next year, up from 7% and 3%, but said an increased unemployment rate would cool the market.
Most capital city house prices have not yet reached their 2010 peaks with Haslem noting Sydney was the only capital city noticeably above its peak.
 
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Australian property warming up but no bubble: UBS Scott Haslem

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Potential first home buyers are eyeing off the market as rents approach the cost of repaying a mortgage, according to Stockland boss Mark Steinert.
He says interest is strongest in metropolitan Sydney and in Perth.
"The main thing we're seeing now is at the affordable end, a first-home buyer, particularly with the state grants that are focused on new construction both on the eastern seaboard and now Western Australia, that their repayments on the mortgage aren't that different to rent," Steinert told Business Spectator.
Stockland’s Willowdale development in East Leppington in Sydney had more than 1000 pre-registrations. First home buyers form a strong base for Stockland.
“There’s a very significant employment base over in Parramatta, Liverpool and Campbelltown. That is actually a big part of the economic engine of Sydney,” he says.
But he says while they are coming back to the market the looming election is keeping them cautious.
“There has been a lag response to first home buyer stimulus,” Steinert told The Australian Financial Review last week.
“Sentiment remains an issue and buyers are still a bit more cautious about taking on leverage.”
He says low interest rates now mean home loan repayments are lower than rent payment which makes buying more attractive for first-home buyers and those seeking to upgrade.
“We are starting to see constructive signs of that,” he said.
First-home buyer sentiment is strongest in the Sydney metro region and in Western Australia, driven by population growth from migrants who may already own homes overseas but are still recognised as first-home buyers.
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Sydney strongest for FHB followed by Perth: Stockland

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Darren Moffatt, founder and chief executive of Housenet.com.au, is a property and social media enthusiast. He has prepared six steps to successfully invest in property.
So you want to build a real estate empire. Nice, ambition is good. But how to property invest and where to start?
There’s a mountain of information out there on the web about buying investment property. It’s one area where too much information can actually hinder rather than help. For first time investors in particular, it can be bewildering.  So we set ourselves a challenge: what are the bare minimum steps anyone needs for successful property investing?
This post is designed to both help first time investors and spark a discussion among seasoned pros: what are the absolute, essential property investing steps required for success?
I got it down to six, but maybe you can do better and distill it even further. Is this the definitive list? Leave a comment and have your say. OK here goes …
1. Assess your readiness.
Are you ready to invest in property? Are you earning enough income, and do you have enough cash or equity in your existing home to fund the purchase of property? <a target="_blank" href="https://www.housenet.com.au/mortgage/calculator/" title="Mortgage Calculator ">Establishing your borrowing capacity is a good first step</a>. Even if the answer is yes, you may still not be ready to invest. You should also consider other lifestyle questions such as your job security, family circumstances, and current debt load. Just because someone says you CAN do it, doesn’t mean you should.
2. Decide your objective.
Why do you want to buy an investment property anyway? Lots of people don’t actually know, they’ve just heard it’s an easy way to build wealth. Well guess what? It’s not as easy as it used to be. You need to be clear about what you’re trying to achieve. Here’s a list of common objectives investors have when buying a property:
<ul>
<li>Capital growth (potential increases in the capital value of the property over time)</li>
<li>Rental yield (the rental return expressed as a percentage of the property value)</li>
<li>Tax minimisation (reducing personal tax via negative gearing in property)</li>
<li>Investment diversification (investing in different markets or asset classes)</li>
</ul>
Which one applies to you? Maybe it’s a combination, but successful investors normally have one clear objective/vision for each purchase. <a target="_blank" href="https://www.housenet.com.au/blog/category/9/property-investment-development/view_/" title="Property investing blogs">These blogs</a> might help, and you may need to get professional advice at this point to work this out.
3. Research, learn &amp; network.
It’s important to do your homework and understand how property investing works. There are some excellent sites out there like <a target="_blank" href="https://realestatetalk.com.au/" title="Real Estate Talk">Kevin Turner’s Real Estate Talk</a> and <a target="_blank" href="https://propertyupdate.com.au/" title="Michael Yardney">Michael Yardney’s Property Update</a> that will give you plenty of resources to learn from.
There are also property forums and <a target="_blank" href="https://www.housenet.com.au/" title="Housenet">niche social networking sites like Housenet</a> where you can rub shoulders with professional investors and real estate experts. As in life, who you know is just as important as what you know, when learning property investing.  Housenet has many elite investors &amp; property advisers like <a target="_blank" href="https://www.housenet.com.au/ChrisGrayEmpire/" title="Chris Gray Your Empire">Chris Gray</a>, <a target="_blank" href="https://www.housenet.com.au/ben-kingsley-1180/" title="Ben Kingsley">Ben Kingsley</a>, <a target="_blank" href="https://www.housenet.com.au/michael-sloan-1801/" title="Michael Sloan">Michael Sloan</a> &amp; <a target="_blank" href="https://www.housenet.com.au/jane-slack-smith-158/" title="Jane Slack Smith">Jane Slack-Smith</a> who you can approach online.
4. Build your team of advisers.
Don’t walk alone. Investment property can get complex pretty fast, and almost always involves tax, financial planning, mortgage finance, and insurance elements.  Therefore, once you feel you’ve done enough research, start building a team of trusted advisers. These might include:
<ul>
<li>Accountant</li>
<li>Mortgage broker</li>
<li>Buyer’s agent</li>
<li>Solicitor/conveyancer</li>
<li>Financial planner</li>
</ul>
You can find plenty of good people in this<a target="_blank" href="https://www.housenet.com.au/user/browse/" title="Property industry directory"> property industry directory.</a>
5. Set criteria, search real estate &amp; buy the property.
The final step for successful property investing is to set a firm criteria for your purchase. Be clear about where to buy, what price range, what type of property, brand new or pre-existing etc. This criteria should meet the objective you set in step 2. Scatterguns don’t work well in property.
Most people still use the big portals like RealEstate.com.au &amp; Domain.com.au to search, but increasingly there are sites that ‘aggregate’ their listings in one place and offer extra useful data on each listing. At <a target="_blank" href="https://www.housenet.com.au/" title="Housenet">Housenet</a>, we partnered with Ripehouse to bring our members incredible FREE data on properties for sale.
<a target="_blank" href="https://www.housenet.com.au/" title="Join Housenet">When you join Housenet</a>, you can see how long each property has been on the market, when and how often the asking price has changed, and even price discounting.
6. Find a tenant!
You’re not really a  landlord until you have a tenant, but where to find one? Most investors use a real estate agent to manage their property, and you can <a href="https://www.housenet.com.au/user/browse/">find plenty of agents HERE</a>.
If you want to give it a go yourself, you’ll need to advertise for a tenant. You can do this on sites like Gumtree, Rent.com.au or place a a free listing in <a href="https://www.housenet.com.au/advancedmarketplace/">the Housenet classifieds</a>. Don’t forget to check their references, and good luck with your landlord dreams!
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Six essential steps for investing in property with success: Housenet's Darren Moffat 

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National Australia Bank’s chief economist Alan Oster has warned there will be a rise in mortgage delinquencies when interest rates inevitably return to normal levels in three to four years.
He says buyers tempted by historically low interest rates now will be struggling in a few years when they bounce back.
"People need to consider the stability of their employment over the next three to four years before taking out a new mortgage," Oster told The Australian.
“The subprime mortgage collapse in the US was triggered by increasing interest rates.”
The comments came after the Reserve Bank of Australia cut interest rates by 25-basis-points last Tuesday and banks passed the cuts on with rates of between 5% and 6%.
But he said he didn’t foresee interest rates rising again until 2015.
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Residential mortgage delinquencies to rise post-2016: NAB

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Buying in a so-called bulletproof suburb doesn’t guarantee that investors won’t be unscathed by property market fluctuations.
Despite the enthusiasm of property experts and analysts, Property Observer notes it's still possible to lose money in suburbs which on paper seem faultless.
Many buyers in Surry Hills, touted by the latest Australian Property Investor magazine as one of Australia's premier “bulletproof” suburbs, have lost money on their investments in the last few years.
According to Residex the suburb median has increased in value each calendar year for the past 10 years.
The median unit price is now $563,000, having grown an average of 5.2% each year for the past 10 years, according to Residex. The median rent is $615 a week and the gross rental yield is 5.6%.
But Property Observer has skimmed sales and found a selection of properties in Surry Hills where buyers made a loss on their supposedly bulletproof investment during the past decade.
In most cases it’s not that the properties were genuinely poor homes – as quite often the subsequent buyers made a healthy profit on the properties. But poor investment timing meant they perhaps chose the one period when the property went down in value.
Another common trait was people buying in new developments at an inflated price, especially if they bought in the Monument development on Oxford Street from Multiplex. There were multiple buyers reselling a year or two later at a significant loss. 
And it’s not just limited to the upper end of the market, with some properties at the lower end losing their buyers money.
Though units were more likely to lose money, several classic Surry Hills terraces made it on the list as well.
The Pelican Street development, The Monument (pictured below), is now a monument to lost dollars.  The 191-apartment building sold a number of units in the mid-2000s to late 2010s which have not resold well.
<img alt="monument-aug-13-two" height="313" width="470" src="/images/stories/2013/08/monument-aug-13-two.jpg">
Unit 403 was sold for the first time at a hefty $1.175 million in 2005. But in September 2011 it resold for $975,000 – a loss of $200,000 for its vendor.
Unit 413 initially sold for $866,000 in 2005 and then resold in March 2008 for $755,000 – a loss of $111,000. But it did bounce back, it then sold again in September 2012 for $930,000.
Waiting until 2012 did seem to mitigate the loss for a few investors but they still lost money.
Unit 1513 first sold for $1.345 million in 2007 and then at $1.295 million in 2012 –a comparatively small loss of $50,000.
And unit 1313 first sold for $875,000 in 2007 and then at $870,000 in 2012 – a loss of just $5,000.
And the Monument (pictured below) loss list goes on.
<img alt="monument-aug-13-flicker" height="264" width="470" src="/images/stories/2013/08/monument-aug-13-flicker.jpg">
Apartments in the St Margaret’s development on Bourke Street weren’t a guaranteed recipe of millions either.
Unit 39 in the 1930s former hospital building sold in 2007 for $1.25 million. In 2012 the same apartment sold for $1.21 million yielding a $40,000 loss.
Unit 309 in the same building first sold in 2005 for $615,000. Two years later in 2007 it sold for $577,000, a loss of $38,000. The next buyer did okay selling the property for $710,000 in 2012.
And unit 112 lost $20,000 from 2005 to 2009 after initially selling for $480,000.
The most dramatic in the complex was unit 1501, which first sold in 2006 for $3 million. It later traded at a profit for $4.01 million in 2011 - a profit of $1.01 million. But the bonanza didn't last long with it later selling for $3.825 million in May this year - a loss of $85,000.
 
<hr class="system-pagebreak">
Several other prestige apartments in Surry Hills also lost their owners money.
Unit 401/148 Goulburn Street first sold for $1.5 million in 2002. In 2012 it sold again for $1.2 million – a loss of $300,000.
And unit 6/56 Foster Street sold for $2.53 million in 2009 – making the vendor a $400,000 profit on their one year investment. The buyer didn’t have the same fortune, selling in 2012 for $2.5 million, losing $30,000 over three years.
Though less likely to haemorrhage money, some Surry Hills terraces did prove to be poor investment choices.
The traditionally sought after terraces make up about 30% of the dwellings in Surry Hills, according to the Australian Bureau of Statistics.
The corner terrace at 17 Kendall Street was one of the most recent cases in our list. The charming two bedroom home sold for $1.012 million in 2010. But in March this year it sold at auction for just $950,000 yielding a loss of $62,000 for the hapless vendor.
It has been listed for rent at $825 per week suggesting the new owner picked it up at a yield of 4.52%.
Another terrace sale with unfortunate timing is the 1890s-built <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-113643943?idir=1&amp;ret=realestate/agent/bresicwhitney+estate+agents+darlinghurst/bzmdar" target="_blank">115 Goodlet Street</a> (pictured below). In 2007 it sold for $809,000 but in 2009 in sold for just $740,000 – a loss of $69,000. One wonders if that vendor attended the recent May 25 auction where it sold for $901,000.
<img src="/images/stories/2013/08/surry_hills_one.jpg" width="470" height="353" alt="surry_hills_one">
And the lovely corner terrace at 418 Riley Street lost money during the financial crisis. It sold in 2007 for $1.027 million but then sold for just $1 million two years later. It went back on the rise though, in 2011 it sold for $1.35 million.
And it wasn’t just limited to prestige homes. At the lower end of the market unit 58/397 Bourke Street proved to be a poor investment. In 2008 it sold for $250,000 but then four years later it sold for $210,000 – a loss of $40,000.
Although these sales just show cases where investments went backwards there are countless examples of properties which stayed stagnant – effectively not moving in price for many years.
The costs of paying off a mortgage, the costs of selling, the cost of outgoings and the cost of lost opportunity means buyers can be left hurting from stale investments.
Though certain suburbs might seem bulletproof buyers still need to do their research or risk a fatal investment.
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Surry Hills property investors bleeding losses despite "bulletproof suburb" status

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A heritage listed former bank on Melbourne’s Camberwell Junction has been listed for auction with a newly signed 10 year lease.
The 1885-built church-like structure is the former English, Scottish and Australian Bank and current Hawthorn East premises of the 80-seat Meat &amp; Wine Co restaurant.
It currently earns $166,956 per year with fixed 4% annual rental growth.
<a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-camberwell-500820651">The brick building</a> is somewhat awkwardly wedged in to the<a target="_blank" href="https://www.propertyobserver.com.au/victoria/fkp-completes-construction-of-delayed-aerial-apartment-project-in-camberwell/2012110757688"> newly built Aerial residential development</a>, retained as a concession to the rich heritage of the area.
It was the subject of a $500,000 renewal in 2009 during the construction of Aerial.
In 2007 planning minister Justin Madden intervened in the VCAT case surrounding the $150 million development to push it through following strong community opposition <a target="_blank" href="https://www.propertyobserver.com.au/developments/completion-of-fkps-apartment-project-aerial-in-camberwell-junction-delayed/2012062255229">though it still suffered from construction delays</a>.
It was designed in the picturesque Gothic style by architects William Wardell and W L Vernon. Wardell was responsible for a number of buildings around Melbourne.
According to Heritage Victoria the branch was responsible for facilitating much of the suburban building boom in the area after the extension of the railway line from Hawthorn in 1882.
The sale includes nine secure car parks.
The Aerial development, by Queensland developer FKP, has 144 apartments and nine shops.
It goes to auction on Friday 23 August through Savills agents Nick Peden and Clinton Baxter.
It is expected to sell in the high $2 million range. 
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Camberwell Junction heritage bank restaurant premises listed for auction

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Commonwealth Bank chief executive Ian Narev says he doesn’t lose any sleep over concerns about a possible property bubble in Australia following record low interest rates.
He told a Sydney conference yesterday he doesn’t worry about the consequences of the Reserve Bank’s current policies but says lenders must be "very, very careful about just making hay when the sun shines" to avoid more loans going bad.
“I am absolutely confident that all direct and indirect consequences for the property market that may flow from a change in interest rates are absolutely thought through by the governor and his board,” Narev told the Aussie Home Loans three-day biannual sales conference in Sydney.
“I do not lose a moment’s sleep thinking about that. They think very carefully about a range of issues, they are absolutely aware of what effects different interest rate settings might have on the economy and I’ve got a lot of confidence that they... have a good perspective about that.
He says while people enjoy a lower interest rate environment the bank is aware of risks.
“It's always nice to pay lower interest rates than higher, but interest rates in an economy on a downward cycle are there for a reason.
"History will tell you that when the interest rate cycle starts to rise again… (banks must ensure) people on standard variable rates are going to be able to pay what they need to pay. So sometimes we're seen as the party poopers, but actually it's just that we need to be driving these things for the long term."
Narev says is often questioned by overseas investors on Australia's high house prices compared with incomes, but says banks here could weather double the level of unemployment and a 40% fall in prices.
Meanwhile the National Australia Bank has offered home owners <a target="_blank" href="https://www.propertyobserver.com.au/finance/nab-offers-%241000-cash-to-secure-new-borrowers/2013081264103">$1000 if they switch mortgages from rival banks</a> amid renewed aggressive competition between the banks.
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Commbank's Ian Narev loses no sleep over Australian property bubble risk

<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;

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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.

&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;

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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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Alistair Walsh

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