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A UBS banking analyst says the latest round of interest rate cuts by the Reserve Bank could put Australia at risk of a dangerous surge in house prices.
UBS's Jonathan Mott recently told the Australian Financial Review that record-low mortgage rates meant the “ingredients are now in place for another bout of sustained house price inflation in Australia and Sydney in particular.”
“Given Aussie housing is already expensive by most metrics we see this as undesirable and dangerous.”
The latest 25 basis point cut by the Reserve Bank was passed on in full by the banks including a bonus 28 basis cut by Westpac.
According to the Australian Bureau of Statistics capital city house prices are currently above their previous 2010 record high.
ANZ economist Warren Hogan recently predicted there was a growing debate about “how much frothiness we’ve got in the property market over the next year or so”.
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awalsh-7Ub9EypybQ

RBA cut risks dangerous price surge: UBS Jonathan Mott

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As sales activity picks up dramatically in Tasmania, Property Observer looks at the top 10 Tasmanian suburbs with the greatest number of house sales over the June quarter.
The list is topped by Kingston, in outer Hobart, with 45 sales over the quarter.
In Kingston, sales are up 25% over the quarter and 96% over the year.
Number two is Sandy Bay, an inner Hobart suburb, with 39 sales over the quarter, up 14.7% over the quarter.
The suburb on the list with the greatest quarterly increase is Moonah, in middle Hobart, up 187.5% over the quarter to 23 sales.
 
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<td width="268" height="20">Suburb</td>
<td width="80">No. of Sales</td>
<td width="137">% Quarterly increase</td>
<td width="123">% Yearly increase</td>
<td width="88">Median Price</td>
<td width="224">% Yearly median price change</td>
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<tr height="20">
<td height="20">Kingston</td>
<td align="right">45</td>
<td align="right">25.00%</td>
<td align="right">95.70%</td>
<td align="right">$340,000</td>
<td align="right">-9.30%</td>
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<tr height="20">
<td height="20">Sandy Bay</td>
<td align="right">39</td>
<td align="right">14.70%</td>
<td align="right">34.50%</td>
<td align="right">$585,000</td>
<td align="right">14.70%</td>
</tr>
<tr height="20">
<td height="20">Devonport</td>
<td align="right">38</td>
<td align="right">18.80%</td>
<td align="right">-5.00%</td>
<td align="right">$232,000</td>
<td align="right">-9.90%</td>
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<td height="20">Lenah Valley</td>
<td align="right">32</td>
<td align="right">128.60%</td>
<td align="right">77.80%</td>
<td align="right">$381,000</td>
<td align="right">-3.40%</td>
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<td height="20">Howrah</td>
<td align="right">32</td>
<td align="right">18.50%</td>
<td align="right">60.00%</td>
<td align="right">$363,000</td>
<td align="right">-0.30%</td>
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<td height="20">Claremont</td>
<td align="right">25</td>
<td align="right">19.00%</td>
<td align="right">78.60%</td>
<td align="right">$235,000</td>
<td align="right">-6.70%</td>
</tr>
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<td height="20">Trevallyn</td>
<td align="right">24</td>
<td align="right">50.00%</td>
<td align="right">41.20%</td>
<td align="right">$322,500</td>
<td align="right">13.20%</td>
</tr>
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<td height="20">Glenorchy</td>
<td align="right">24</td>
<td align="right">41.20%</td>
<td align="right">60.00%</td>
<td align="right">$270,000</td>
<td align="right">8.90%</td>
</tr>
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<td height="20">Moonah</td>
<td align="right">23</td>
<td align="right">187.50%</td>
<td align="right">228.60%</td>
<td align="right">$275,000</td>
<td align="right">3.40%</td>
</tr>
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<td height="20">Riverside</td>
<td align="right">22</td>
<td align="right">22.20%</td>
<td align="right">22.20%</td>
<td align="right">$301,500</td>
<td align="right">22.60%</td>
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The top 10 Tasmanian locations for June quarter house sales

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Sydney maintains the greatest fall in online property listings with a 17% decline over the past year, as Sydney and national levels continued, not unexpectedly, to fall during July.
Across the country, the number of properties listed for sale online fell during July by 2.1% with Sydney mirroring the decline to sit at 27,973 listings, according to data providers, SQM Research.
There were a total of 351,487 properties listed online over July, down 2.5% from July last year, SQM's Louis Christopher noted.
Year on year, every capital city except Canberra and Melbourne recorded decreases in property advertised for sale.
National property listings peaked in November 2012 and have fallen since then. Sydney's property listings peaked one year earlier and have continued to remain at lower than prior years.
"It's pretty clear that the Sydney trend is a far more pronounced than the national trend," Christopher told Property Observer.
<img height="172" width="470" src="/images/stories/2013/08/tassiesales-aug-5-table.jpg" alt="tassiesales-aug-5-table">
The biggest decrease in listings in Sydney was in the CBD where they fell 28.4% over the year. The lower north shore fell 26.2%, the northern beaches fell 26.4% and the eastern suburbs fell 25.3%.
Christopher says these decreases potentially point to a pick-up in the Australian housing market though it still believes the level of stock is elevated at a national level.
“It is becoming more and more evident that the housing market is beginning to pick up in this capital city and SQM Research believes that this will continue into the Spring selling season,” Christopher says.
Melbourne had no significant change over the month and still has the most online residential sales listings of all the capital cities.
Christopher says the listings are still elevated across Australia.
“However, there is now a large contrast between the readings of certain cities. Take Melbourne as an example - Despite apparent high clearance rates at auction, there is still too many listings on the market, creating headwinds for a Melbourne housing recovery,” he says.
“In contrast, Sydney is clearly experiencing a shortage of listings in the market, which is putting upward pressure on real estate prices. This is particularly the case in the inner ring where listings have fallen by approximately 25% over the past 12 months.”
Adelaide recorded the most significant monthly drop in stock, falling 4.5% over July to 17,536 properties. Year on year it fell 6.2%.
Darwin was the only capital city which recorded a monthly rise in listings, up 0.9% over June to 1,302 properties.
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National vendor hibernation continues into July, especially in Sydney: SQM

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Sales activity in Tasmania has jumped in the lead-up to spring led by a surge in Launceston sales, according to the Real Estate Institute of Tasmania.
It found there was a “dramatic” 10.5% increase in property sales in Tasmania for the June quarter with sales up 19.2% for the year, though price increases were small.
Launceston house sales activity led the charge for quarter, up 34.4% and 11.8% for the year, recording the biggest increase in two years.
Hobart house sales jumped 18% for the quarter and 37.4% for the year – the biggest quarterly increase in three years, according to REIT president Adrian Kelly.
“Although it could be argued these figures are skewed due to the low volume of sales, the figures still remain positive, particularly given the market conditions over recent years,” Kelly says.
Running against the trend, the North-West centres had a slight decrease in house sales, down 1.7% for the quarter but up 7.5% for the year.
The median house price in Tasmania increased 2.5% for the quarter, up 3.2% over the year.
Click to enlarge
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Kelly says these are positives signs for Tasmania’s real estate market, especially at a time with historically fewer properties coming onto market.
“Whilst sellers feel it is a good strategy to wait until spring before listing their property I suggest they discuss this approach with their agent, as selling in winter when there are fewer properties available for purchase can sometimes work in their favour,” he says.
As activity increased, time on market decreased. The average time to sell a house in Tasmania was two weeks quicker in the June quarter, now at 75 days.
First home buyers remained steady over the quarter, accounting for 19% of house sales while second home buyers still holding a majority of the market at 55%.
Launceston was the most popular with interstate buyers, making up 20% of sales for the quarter.
Kingston, in outer Hobart, is one of the suburbs with the highest turnover rates.
In February a newly built four bedroom house on 755 square metres at <a target="_blank" href="https://www.realestate.com.au/property-house-tas-kingston-113027323">1 Kelp Street</a> (pictured below) sold for $537,500 through agent Dion Flanagan from Charlotte Peterswald Real Estate. The site last traded for $110,000 in 2005. According to RP Data it spent just 30 days on market.
{yoogallery src=[images/stories/2013/08/aug5kingston]}
And in May, a 1980-built four bedroom house on 2.13 hectares at 72 Leslie Road sold for $510,000, according to RP Data. It last sold for $230,000 in 1997. It spent 269 days on market.
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Sizeable 10.5% increase in Tasmanian June quarter property activity: REIT

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It is becoming difficult to buy good property in Melbourne says WBP Property Group buyers agent, Greville Pabst.
He says the REIV’s reported weekend clearance rate of 75% in Melbourne shows Melbourne buyers are increasingly confident.
<a target="_blank" href="https://twitter.com/grevillep"><img alt="tweet-of-the-day-aug-5" height="77" width="470" src="/images/stories/2013/08/tweet-of-the-day-aug-5.jpg"></a>
He predicts annual median price growth will reach 10% if clearance rates in Melbourne stay between 70% and 75% in Melbourne over spring.
The REIV’s reported clearance rate is up from 69% last weekend and 60% for the same weekend last year.
It was based on 479 auctions of which 361 sold and 118 passed in, 68 of those on a vendor bid.
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Melbourne market confident as clearance rate jumps

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The average discount rate of properties in Melbourne has jumped nearly a full percentage point in one month, according to Australian Property Monitors.
The average discount in Melbourne in May was 7.3%, up from 6.4% in April.
In Canberra discount rates have dropped from 4.9% in April to 3.9% in May.
Changes in other cities were less dramatic with Perth the next biggest change, falling from 4.9% to 4.5%.
And for days on market, Adelaide was the <a href="https://www.propertyobserver.com.au/residential/no-slowing-in-canberra-house-and-unit-sales-speed-apm-heat-chart-apmnews/2013052961778" target="_blank">only capital city to show any significant improvement in April selling times</a>.
<img alt="heatchartmay30twothumb" src="/images/stories/2013/05/heatchartmay30twothumb.jpg" width="470" height="653">
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Level of vendor discounting jumps in Melbourne: APM heat chart

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The National Trust of Victoria is offering exclusive guided tours of Government House. 
The <a target="_blank" href="https://www.trybooking.com/Booking/BookingEventSummary.aspx?eid=49366">$15 tour</a> looks at the grand State Rooms, the billiard room and a visit below stairs to the old kitchens and mews.
The tours run most Mondays and Thursdays.
Government House, home to Alex Chernov, is next to the Royal Botanic Gardens in Melbourne.
<img height="210" width="470" src="/images/stories/2013/05/tweetofthedaymay30.jpg" alt="tweetofthedaymay30">
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Tweet of the day: Take a tour of Victoria's Government House 

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The Harbourside Shopping Centre in Sydney’s Darling Harbour has been listed for sale by Suntrack Holdings, part of  John Beville’s property empire.
The three level three-level retail and entertainment centre on 20,500 square metres has more than 300 metres of water frontage to Cockle Bay.
{yoogallery src=[images/stories/2013/05/may30darlingharbour]}
Beville bought the site in 2004 for $127 million from Malaysians Kar Wai Chan and Thomas Tiong, who bought the site for $111 million in 1995 and spent $70 million refurbishing the site.
Beville’s 2004 purchase followed the $150 million sale of the Marrickville Metro shopping centre to AMP Capital Investors.
Comments by the selling agent suggest the Harbourside will sell for more than $250 million.
“One hundred per cent interests in retail property above $250 million are keenly sought after and rarely offered for sale within the Australian property market,” says Jonathan Fox from Stonebridge Property Group.
The centre, at <a href="https://www.stonebridgeproperty.com.au/property/iconic-sydney-landmark-retail/">2-10 Darling Drive</a>, has a net lettable area of 20,022 square metres and attracts 14 million visitors a year.
Beville has come under fire from the state government earlier this year, saying the 25-year old property would hamper the $2.5 billion redevelopment of Darling Harbour.
National president-elect of the Australian Institute of Architects, Paul Berkemeier, described the centre as a “tired tourist trap” and it had “passed its use-by date”.
The centre still has 75 years left on its 99-year lease from the Sydney Harbour Foreshore Authority.
The Australian Financial Review reports the site could likely attrract interest from near neighbours Infrastructure NSW, Lend Lease and Echo Entertainment, who have interest in building a hotel and casino on the site to compete with Crown’s Barangaroo development.
The shopping centre was officially opened by Queen Elizabeth in 1988 in a $1 million ceremony that included a lavish fireworks display.
<img src="/images/stories/2013/05/darlingharbourmay30one.jpg" width="342" height="494" alt="darlingharbourmay30one">
Above: Caption Ian Hayson with Queen Elizabeth at the 1988 opening of Harbourside. Image courtesy of Hayson Group.
It was built by Ian and Tom Hayson’s group Merlin Australia who bought the site, then the Sydney Wool Stores, in the 1980s.
The Haysons were keen to replicate the success of Baltimore’s redevelopment of the old Inner Harbor into festival markets for the bicentennial celebrations.
After securing the support of the premier Neville Wran and public works minister Laurie Brereton, the Hayson’s redeveloped the site into the festival markets which formed the centre piece of the bicentennial celebrations. The site was also vital in securing the Olympic Games in 2000.
It is being sold by Stonebridge Property Group agents Jonathan Fox and Carl Molony through an expression of interest campaign that closes on July 17.
Receivers of Beville’s group Bevillesta sold The Top Ryde shopping to US private equity giant Blackstone for $341 million late last year.
Top Ryde was built by Beville in 2010 and cost about $800 million but receivers were appointed a year later.
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Harbourside Shopping Centre in Darling Harbour listed for $250m plus

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The secluded hill-side neighbourhood of Pullenvale out of Brisbane is in the spotlight after coal tycoon <a href="https://www.propertyobserver.com.au/queensland/nathan-tinkler-lists-indulgent-brisbane-acreage-mansion-tinkler-twowaterslides/2013052161547" target="_blank">Nathan Tinkler listed his magnificent acreage </a>and there are many listings there that seem to take forever to sell.
The Tinklers are seeking to sell their indulgent four hectare acreage (pictured below) in <a href="/news">Pullenvale </a>for between $4 million and $5 million. Rebecca Tinkler bought the property in 2007 for $5.2 million.
{yoogallery src=[images/stories/2013/05/may21tinkler]}
It is one of many luxurious listings in the suburb of Pullenvale, 14 kilometres south-west of Brisbane, but if the marketing campaign goes anything like their neighbours it may be some time before it sells.
A four-bedroom, four-bathroom Geoffrey Pie designed house on a four hectare acreage at <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-pullenvale-110668165" target="_blank">736 Grandview Road Pullenvale</a> (pictured below) is still listed for sale.
<img src="/images/stories/2013/05/pullenvalemay30one.jpg" alt="pullenvalemay30one" width="470" height="350">
It has been on the market for more than 18 months.
It has an undisclosed asking price, but in April last year agent Noel Elliott from Urban 8 Real Estate was looking for $4.85 million for the property.
The home includes a billiard room with adjacent bar, a 1,500 bottle wine cellar, a library, an outdoor spa, a 2 million litre dam, and a private elevator.
The vendors bought the property in 2003 for $700,000, according to RP Data.
 
<hr class="system-pagebreak">
A 7.88 hectare block of residential land at <a href="https://www.realestate.com.au/property-residential+land-qld-pullenvale-200531155" target="_blank">42 Lyndale Road Pullenvale</a> (pictured below) is listed for sale at $1.75 million plus.
<img src="/images/stories/2013/05/pullenvalemay30two.jpg" alt="pullenvalemay30two" width="470" height="339">
It has been on the market for almost one year.
It last traded for $1.95 million in 2011 and for $2.25 million in 2010.
A six bedroom, four bathroom house on 4.05 hectares is listed for sale for an undisclosed price. Like many properties in Pullenvale it has been on the market for quite some time. The last advertised price for the property at <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-pullenvale-107546097">59 Haven Road</a> (pictured below) was $2.75 million in 2009.
<img src="/images/stories/2013/05/pullenvalemay30three.jpg" alt="pullenvalemay30three" width="470" height="344">
The current marketing campaign has been on for more than two years.
It includes standard Pullenvale features such as a waterfall cascading into a swimming pool and a rooftop deck.
 
<hr class="system-pagebreak">
A five bedroom four bathroom home on 3.02 hectares <a href="https://www.realestate.com.au/property-house-qld-pullenvale-113489551" target="_blank">at 625 Grandview Road</a> is listed for sale at $1.4 million. It last traded for $1.255 million in 2010.
It has been on the market for less than two months, according to RP Data.
One of the most expensive recorded sales recently was at <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-pullenvale-108506416" target="_blank">77 Herron Road</a>, which sold for $3.55 million in June last year. It had been on the market for more than one year with an asking price of $3.95 million. 
And in September 2007 105 Herron Road sold for $6.7 million after being on the market for almost 18 months with an undisclosed price. It was bought by the former Middle Eastern boss of development firm Leighton, Laurie Voyer.
There are more than 50 listings in Pullenvale with the cheapest being a 2000 square metre vacant block at <a href="https://www.realestate.com.au/property-residential+land-qld-pullenvale-2770243" target="_blank">72 Osna Place</a> listed for $539,000.
The median house price in Pullenvale is $945,000, according to RP Data. This has dropped 10% over the last year.
The median weekly asking rent for houses is $950.
The average time on market is 128 days.
According to the Australian Bureau of Statistics the median weekly household income is $2774 - more than double the rest of Queensland.
The residents are predominantly older people, mostly Australian born but with more English and more South African people than compared to the rest of Queensland.
<img src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone" width="470" height="57">
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Big prices and slow sales - close look at Pullenvale trophy acreages

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Singapore’s giant observation wheel, The Singapore Flyer, has entered into receivership just five years after it first opened.
The wheel, which at 165 metres is the tallest Ferris wheel in the world, was fraught with links to companies that came under accusations of embezzlement in 2010.
And since opening in 2008 the wheel has suffered from several major break-downs, including an incident in 2008 when a fire in the control room caused the wheel to stop moving, stranding 173 passengers for six hours.
Tim Reid, Theresa Ng and Tan Aik Kiat from accounting firm Ferrier Hodgson have been appointed as the receivers and managers of the company's charged assets.
They say it’s business as usual for the wheel as they identify investors to manage and enhance the Singapore Flyer.
The troubles are reminiscent of Melbourne’s giant Ferris wheel, the Southern Star, which opened two years behind schedule in 2008 and closed 40 days later and has not yet reopened.
The troubled $100 million attraction is under major repairs and has missed several completion deadlines while suffering from safety problems.
In 2011 the 120 metre wheel broke free from restraints and started spinning in the wind, injuring two workers.
Soon after there were fears of falling debris from the wheel, which is being built by ING Real Estate.
In 2012 former premier Ted Ballieu told the Herald Sun, "it looks like what it is, which is a large, expensive, half-completed project, which has been very troubled, and the sooner it's resolved I think the better for everybody."
Former Lord Mayor Robert Doyle labelled it an embarrassment.
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Singapore observation wheel enters receivership

<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]

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Alistair Walsh

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