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There are more than 100 postcodes in Queensland with yields above 5% for houses, according to the Real Estate Institute of Queensland.
Yields are particularly firm in mining locations and those with affordable housing, it found in its latest gross rental yield report.
“Our property market has turned a corner over the past six months, and these robust yields reflect that sales prices had yet to fully rebound in the December quarter last year but rents had definitely increased,” REIQ chief executive Anton Kardash says.
“This year, there continues to be strong demand for rental properties from tenants which in turn is driving activity from investors.
“REIQ analysis of Australian Bureau of Statistics (ABS) housing finance data found that the number of investors in the Queensland property market in February had increased more than 10% compared to January this year.”
The highest yields for houses are found in <a target="_blank" href="/news">Miles</a>, at 9.3%. In the Western Downs region, Miles forms part of the Surat Basin Energy Province. According to RP Data, median prices in the area increased 17.5% in the last year.
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The town was initially called Dogwood Crossing by explorer Ludwig Leichhardt who passed through the district on three expeditions. It was later renamed Miles in honour of a local member of parliament.
In March, Terry Ryder pegged Miles as one of the Surat Basin towns which will continue to grow.
"They all had double-digit price increases last year and will continue to show more," he says.
One of the cheapest houses listed on online real estate portals is <a href="https://www.realestate.com.au/property-house-qld-miles-112459211">13 Daisy Street</a>. The three bedroom house on 809 square metres is listed at $280,000. The sales campaign started at $350,000 in December last year.
A new four bedroom house on 2514 square metres at <a href="https://www.realestate.com.au/property-house-qld-miles-113560763">Lot 20 Vowles Road</a> is listed for sale at $525,000. It advertises an unfurnished rent of $725 a week and a furnished rent of $1200 per week. The unfurnished rent would give a potential gross yield of 7.18%.
There are a number of <a href="https://www.realestate.com.au/property-house-qld-miles-110414053?listingType=buy">off-the-plan housing developments</a> being marketed, variously promising returns of around 9%.
Number two were <a target="_blank" href="/news">Russell </a>and <a target="_blank" href="/news">Macleay islands</a> at 9%. The Brisbane Bay islands boast plenty of affordable houses and a healthy rental market.
Number three was <a target="_blank" href="/news">Mount Morgan</a> at 8.7%. It is in the Rockhampton local government area, which features many affordable properties.
There were no Brisbane suburbs in the top 20. Brisbane first makes an appearance on the list at number 24 with the outer-southwest suburbs <a target="_blank" href="/news">Durack </a>and <a target="_blank" href="/news">Inala </a>at 6.2%.
The REIQ gross rental yields use weighted median rents and sale prices to derive yields, which is the annual income earned from a tenanted property divided by the purchase price.
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Miles heads Queensland's top 20 house yield locations with Brisbane suburbs missing the cut

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Mirvac has reportedly withdrawn from any acquisition bids of Australand Property Group, preferring to concentrate on smaller acquisitions, The Australian Financial Review’s Street Talk suggests.
It does not want to battle with GPT Group – the only other party to have submitted a bid for the company.
The supposed withdrawal of Mirvac will put the pressure on the trust whose principal shareholder, Capitaland from Singapore, wants to exit the business.
GPT put in a $3 billion bid for the company in December but it was quickly rejected after it became apparent it was merely cherry picking the best bits of the trust.
Mirvac is reportedly looking at a $575 million property portfolio on offer by US giant General Electric.
While Mirvac withdraws its interest, Apollo Global Management has reportedly stepped into the arena, joining Blackstone and Brookfield which have both been spotted in the data room.
Capitaland owns a 60% stake in Australand and wants to exit the trust, but any takeover must be agreed to by the board.
The group is being advised by Fort Street and Macquarie.
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Mirvac withdraws interest from Australand acquisition as Apollo takes a look

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A 1914-built church in Dunkeld, 250 kilometres west of Melbourne, has sold for $230,000, which was nearly double its price expectations going into auction.
Agent Bart O'Sullivan from Pat Rice &amp; Hawkins had hoped to sell the property in the Southern Grampians for more than $125,000, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/dunkeld-uniting-church-for-auction-with-%24125000-hopes/2013031759749">as reported in March</a>.
<img src="/images/stories/2013/04/dunkeldmarch15one.jpg" width="470" height="348" alt="dunkeldmarch15one">
O'Sullivan says it is very hard to gauge a price for properties of this nature.
“We quoted $125,000-plus through the marketing but we expected the market would eventually give us a true indication of what it was worth,” he told Property Observer.
“With the diverse range of inquiries you get on properties like this, it’s very hard to pinpoint.”
<img src="/images/stories/2013/04/dunkeldmarch15two.jpg" width="470" height="314" alt="dunkeldmarch15two">
There were five bidders at the auction. O’Sullivan says bidding was thick and fast with a bidding competition all the way.
The purchaser was a local person representing an outside party.
“It was a local gentleman who signed the contract. He paid the deposit,” O’Sullivan says.
“He may substitute himself closer to settlement or it might be put into another entity.”
<img src="/images/stories/2013/04/dunkeldmarch15three.jpg" width="470" height="314" alt="dunkeldmarch15three">
He says he doesn’t know what the purchaser will do with the property, which had interest from interstate, regional centres and locals.
“There’s always a host of ideas as to what could happen with the property. Some people look at residential, some look to develop a business. Being in the township there might be future redevelopment opportunities, but it’s always subject to approval.”
“We’re happy with the result and we were happy to have active competition on the day.”
<img src="/images/stories/2013/04/dunkeldmarch15four.jpg" width="470" height="314" alt="dunkeldmarch15four">
There will be a clearing sale on June 29 to offer the church pews and other fittings no longer required.
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Dunkeld church sells for nearly double expectations

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Frankston, a beachside satellite suburb, has the most affordable units in Melbourne, according to the Real Estate Institute of Victoria.

The REIV puts the median unit price in <a href="/news">Frankston</a> at $270,000 after the suburb's median unit price increased <a href="https://www.propertyobserver.com.au/victoria/frankston-and-carlton-ranks-among-melbourne-s-10-most-affordable-suburbs-for-units-reiv/2013041260364?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">2.7% over the March quarter</a>.
A search on online real estate portals reveals an array of units for under $300,000. 
<a href="https://www.realestateview.com.au/Real-Estate/9-430-nepean-highway-frankston/Property-Details-buy-residential-4293431" target="_blank">Unit 9 at 430 Nepean Highway</a> (pictured below), an eight-year-old two-bedroom unit marketed as an investment property, is listed at $240,000 to $265,000. According to RP Data it was last listed in 2010 at an optimistic $285,000 to $310,000.
<img src="/images/stories/2013/04/frankstonapril16one.jpg" width="470" height="353" alt="frankstonapril16one">
It January the property was advertised for rent at $270 per week, giving a potential yield of 5.3% if it sells for the upper bracket.
It is being listed by Deb Sanderson of Harcourts Frankston.
<a href="https://www.realestateview.com.au/Real-Estate/1-56-screen-street-frankston/Property-Details-buy-residential-5359713" target="_blank">Unit 1 at 56 Screen Street</a> (pictured below), an unequivocally retro two bedroom unit over 100 square metres, is listed for sale for more than $275,000. It is being listed by agents Katherine Vasilopoulos and George Findikakis from Eview Real Estate.
<img alt="frankstonapril16two" height="353" width="470" src="/images/stories/2013/04/frankstonapril16two.jpg">
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/4-50-petrie-street-frankston/Property-Details-buy-residential-5356515">Unit 4 at 50 Petrie Street</a> (pictured below), a three bedroom unit 740 metres from the train station, is listed for sale at more than $250,000. It has an estimated rent of $1130 per month giving a potential yield of 5.42%. Body corporate comes to $235 per quarter.
<img alt="frankstonapril16three" height="312" width="470" src="/images/stories/2013/04/frankstonapril16three.jpg">
The asking price for the apartment has varied significantly over the last few years. In 2009 it was listed at $249,950, in 2011 it was listed at more than $260,000 and in 2012 it was listed at more than $230,000.
It is being listed by Sam Bucca from Eview Real Estate.
 
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<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/29-402-nepean-highway-frankston/Property-Details-buy-residential-4974289">Unit 29 at 402 Nepean Highway</a> (pictured below), a two-bedroom fully furnished unit on the first floor, is listed for sale at a negotiable $280,000.
<img src="/images/stories/2013/04/frankstonapril16four.jpg" width="470" height="353" alt="frankstonapril16four">
It has an advertised rental return of $240 per week giving a potential yield of 4.46%. It is marketed as having two large bedrooms though pictures show a rather tight squeeze in one of the rooms.
Up until January this year the apartment was listed at $245,000 to $260,000.
It is being listed by Mike Joy and Nicola Nakon from O'Brien Real Estate Chelsea.
<a target="_blank" href="https://www.realestate.com.au/property-unit-vic-frankston-113550183">Unit 9 at 1-3 Skye Road</a> (pictured below), a two-bedroom unit with a new kitchen and breakfast bar, is listed with price hopes of above $220,000.
<img src="/images/stories/2013/04/frankstonapril16five.jpg" width="470" height="310" alt="frankstonapril16five">
It is being listed by Ashley Weston of Ray White Frankston.
Off-the-plan units at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/10-12-davey-street-frankston/Property-Details-buy-residential-4835869">Airio</a>, a $50 million 97-apartment complex being developed by PNP Property Group, are being sold from $323,000.
And serviced apartments at <a target="_blank" href="https://www.propertyobserver.com.au/developments/frankston-eyesore-reborn-as-peninsula-on-the-bay-holiday-apartments/2013032559596">Peninsula on the Bay</a>, a 10-storey Nepean Highway complex, are being marketed for between $250,000 and $350,000.
Agent George Findikakis says sales in the area are driven predominantly by first-home buyers and investors.
“I think $270,000 is quite affordable for first-home buyers,” Findikakis says.
He says the new developments in the area aren’t affecting prices at the lower end of the market as they tend to be in a different price bracket.
“The market has been quite strong. At the start of last year it was a bit flat but consumer confidence picked up towards the end. Now with the election looming supply has gone down in last two or three months but prices are OK,” Findikakis says.
“I think this quarter should be quite good, as soon as the election is over. Next year is going to be better I think.”
Image of Frankston by Simon Yeo, courtesy of Flickr.
 
 
 
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Frankston has Melbourne's most affordable units with a $270,000 median

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Aussie Home Loans chief executive Stephen Porges has resigned following Commonwealth Bank’s purchase of an 80% stake in the company.
A statement released by the company today said he resigned to “pursue other interests”.
The Australian Financial Review reports that there is speculation Commonwealth Bank, which already has two seats on the board, may use its new majority ownership to appoint a new leader despite assertions the lender would remain independent.
On March 22 the Australian Competition and Consumer Commission approved Commonwealth Bank increasing its stake from 33% to 80% with rights to 100% ownership in 2016.
A spokesman for Commonwealth Bank told The Financial Review, “Any decisions regarding Aussie Home Loans’ CEO will be made by the AHL board”.
Executive chairman John Symond thanked Porges for his contribution to Aussie’s success since joining in 2008.
Aussie Home Loans operates a franchise network of around 750 mortgage brokers which distribute home loan products and retail products from bank and non-bank lenders.
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Aussie Home Loans CEO Stephen Porges resigns after Commbank acquisition 

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The Australian property market is in a “suckers’ rally”, property bear Steve Keen told an economic conference last week.
He has attributed recent house price growth to speculative activity by investors.
“All the growth in debt has come from people speculating on rising house prices, not by people owner-occupying,” he told the Bloomberg-organised conference, Fairfax Media reported.
''I think we're going through a rally - I'm calling a suckers' rally.''
The University of Western Sydney academic said sustained growth in the sector was unlikely, News Limited reported from the same conference.
All the turnaround since 2012 has been speculators getting into the market expecting prices rises,” he said.
He said Australian households were already highly indebted when compared to other countries.
"That is what is going to put the cap on price appreciation continuing."
Keen first called the market a "suckers’ rally" <a href="https://www.propertyobserver.com.au/industry-news/steve-keen-contemplates-quitting-australian-academia-for-possible-private-sector-role-in-london/2012103057536/Page-1" target="_blank">in October last year</a>, blaming low interest rates.
He predicted the rally would fizzle out with the housing market not responding to interest rate cuts because consumers already carried too much debt.
RP Data says the Australian capital cities are now approaching their previous peaks.
Sydney prices are now 0.1% above their November 2010 peak.
But Melbourne prices are 6.2% shy of their 2010 peak, Brisbane is still 9.5% shy of its November 2009 peak, Adelaide is 5.5% lower than its September 2010 peak and Hobart is 8.7% lower than its November 2009 peak.
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2012 property market growth a "suckers' rally": Steve Keen

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Vendor confidence increased over the March quarter driven by strong performance in Sydney and Darwin, according to SQM research.
Vendors across the capital cities were confident enough to lift asking prices, bringing the national capital city asking prices up 1.3%.
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But although the average asking price is up, Sydney, Darwin and Perth were the only cities with positive growth in asking prices.
Over the quarter, asking prices increased 4% in Sydney, 3.9% in Darwin and 0.1% in Perth. All other capital cities recorded reductions.
Canberra decreased asking prices by 3.8%, the biggest drop for all capital cities. Unit asking prices dropped 1.3%.
<a href="companies/sqm" target="_blank">SQM</a>’s Louis Christopher says it is clear Canberra’s market conditions remain weak.
“Overall the market was confident for the quarter however I note that there was a little more caution in the month of March,” Louis Christopher says.
“Melbourne is still recording some weakness and that goes with Canberra as well, which has most likely been affected by cuts in the Federal budget. Sydney and Darwin are leading the charge.
“However if it were not for the strong results in Sydney, it is most likely the national average would be recording market weakness for the quarter.”
In Melbourne, asking prices for house dropped 0.7% over the quarter while asking prices for units rose 1.1%.
Unit asking prices across the capital cities dropped 0.4%.
Hobart had the second strongest increase in asking prices for units, up 4.8%.
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Sydney and Darwin lead increases in asking prices: SQM

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Real estate agents in Melbourne failed to gauge the strength of the auction market in the lead up to the Easter crescendo with a Property Observer survey revealing 83% of successful auctions selling at prices above pre-auction price estimates by real estate agents. The super-success rate was higher than three similiar surveys undertake last Spring by Property Observer.
An analysis of 142 auction results between February and late March recorded by National Property Buyers showed 118 sold for above the upper bracket of the price guides provided by agents before auction.
Of those 118 properties, 43 sold for more than 10% above pre-auction price guides.
Those that sold above the price guide were 9.55% above the upper price guide bracket on average.
The clearance rate in the March quarter was 69%, well up from 62% in the December quarter, according to the REIV – a clear sign of gathering momentum in the market which agents failed to factor into their price guides.
Properties that sold for above $600,000 had the greatest discrepancy between price guide and sale prices – of the 85 results analysed, 78 sold for above the upper price bracket, or about 92%.
National Property Buyers agent Catherine Cashmore agreed there had been an increase in the number of properties selling for prices 5-10% above reserve, yet many advertised price quotes had not yet caught up to reflect the additional demand fuelling the rises.
"Although I can understand selling agents being cautious in light of the sudden, and strong, increase in turnover - maybe doubting it's longevity - but this is no excuse for not reflecting the 'current' stronger trend when quoting," she told Property Observer.
"They have the same sales data as I do - yet I can accurately assess the price range a property will sell for 99% of the time. 'Quoting low' remains an unfortunate reality buyers must battle against."
The most extreme disparity between price guide and actual result was a three bedroom brick veneer house in Heidelberg, 59 Cape Street, which sold for 41% above the price guide. Co-agents at Kelly &amp; Shiel Carlton and Kerry Davis quoted a pre-auction price guide of $780,000 to $860,000 but it sold for $1.215 million on February 23.
Five bidders made 83 bids on the property (pictured below) which had an $860,000 reserve, according to a Fairfax Media report.
<img alt="auctionsapril12one" height="263" width="470" src="/images/stories/2013/04/auctionsapril12one.jpg">
A four-bedroom house in Northcote, at <a href="https://www.realestate.com.au/property-house-vic-northcote-113079315">5 Ross Street</a>, sold for 35% above the price guide. Agents at Jellis Craig Clifton Hill quoted a price guide of $900,000 to $990,000 before the auction but it sold for $1.34 million on March 16.
There was a bidding war between two parties interested in building on the land, yielding 52 bids, according to a Fairfax report. There was a $1 million reserve.
 
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And a four bedroom townhouse in Surrey Hills, at <a href="https://www.realestate.com.au/property-townhouse-vic-surrey+hills-112934351">2/11A Scheele Street</a> (pictured below), sold for 33% above the price guide. Hocking Stuart Balwyn agents quoted a price guide of $950,000 to $1.05 million but it sold for $1.4 million on March 2.
<img alt="auctionsapril12two" height="332" width="470" src="/images/stories/2013/04/auctionsapril12two.jpg">
Seven bidders quickly pushed the property well past its $1.05 million reserve, according to Fairfax.
Just one property analysed sold for less than the pre-auction price guide – a two bedroom townhouse in <a href="https://www.realestate.com.au/property-townhouse-vic-kensington-112890859">Kensington, 51 Leicester Mews</a>, which had a guide of $660,000 to $720,00 but sold for $530,000.
Last October in a similiar survey undertaken by <a href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500">Property Observer</a><a href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500"> it was found 75% of auctions sold for above price guides</a>. An analysis of 74 sales over the four weeks of Spring sales found 55 properties sold above price guides.
And in early October <a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988">Property Observer</a><a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988"> put the figure at 75%</a>, with 46 of 61 properties selling above the price guide.
And a September analysis undertaken by <a href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435">Property Observer</a><a href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435"> of 220 auction results found 77% sold for above price guides</a>.
 
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Melbourne Autumn residential auction prices fetching well above price guides

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Unit rents in Melbourne increased in the March quarter despite recent additions to supply, according to APM’s March quarterly rental price series report.
Unit rents rose 2.9% in Melbourne over the March quarter, 3.8% in Perth, 2.2% in Sydney and 1.8% in Adelaide. Unit rents remained unchanged in other state capitals.
Nationally the median asking rent for units increased 2.2% in the three months ending March 2013.
House rents remained stable across the country, increasing 0.4% and unchanged in Melbourne. House rents rose 7.7% in Darwin over the quarter, 4.3% in Perth and 1% in Canberra.  House rents fell 3.1% in Hobart and remained unchanged elsewhere.
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The unit rent rise in Melbourne came as a surprise to <a target="_blank" href="?option=com_googlesearch_cse&amp;q=APM">APM</a>’s senior economist Andrew Wilson. Recent increases in apartment supply in the city should have mitigated any increase in demand. It was Melbourne’s first unit rent rise for quite some time.
<img alt="apmapril11twothumb" src="/images/stories/2013/04/apmapril11twothumb.gif" width="470" height="211">
Melbourne’s house rents, unchanged over the quarter, are 28% lower than in Sydney.
He says increased demand for unit accommodation will continue in Sydney and Melbourne driven by affordability constraints and lifestyle preferences but in Melbourne, new apartment growth will act to offset rental increases.
House and unit rents remained unchanged in Brisbane suggesting homebuyers are being activated by low interest rates and low entry-level home prices are taking some demand away from the highly competitive rental market.
Perth’s continued rent increases were driven by record levels of new arrivals seeking accommodation.
Perth median house rent is currently at $490 a week and looks set to overtake Sydney as the most expensive of all the major capitals.
Darwin remains the most expensive capital city rental market with house rents at $700 per week and units at $550 per week.
Wilson predicts rent increases will continue in Perth, Darwin and Sydney due to chronic shortages of housing.
He predicts rental growth in Adelaide, Hobart and Canberra will remain subdued over the remainder of 2013 “reflecting the under-performance of those local economies”.
“For investors, Perth and Brisbane are both performing well. Perth gross yields for units at 5.82% are the highest of all the major capitals with house yields at 5.20% just behind the leader Brisbane at 5.22%. Brisbane unit yields are just behind Perth at 5.55% with plenty of potential upside for capital gains in a recovering market environment.”
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Unit rents rise in Melbourne despite supply additions: APM

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Hefty house rents in Sydney have been driving tenants towards cheaper rental units but this may lead to unit rents rising to the same level, according to Australian Property Monitors.
House rents remained unchanged at $500 per week over the March quarter, but unit rents increased 2.2% to $470 per week, according to APM’s March quarterly rental price series report.
Andrew Wilson, APM’s senior economist, says high median house rents of $500 per week are pushing Sydney tenants into units.
The gap now sits at $30 a week. In the March 2012 the gap was $50.
“With first home buyer numbers currently at record lows, demand is increasing for already scarce rental accommodation, particularly at the more affordable end of the price spectrum,” Wilson says.
“The differential between house rents and unit rents however is quickly closing with the real prospect looming of rental parity between these accommodation types.”
House rents in Sydney remained the same since the March 2012 quarter but unit rents increased $30 a week in the same time.
<img height="211" width="470" src="/images/stories/2013/04/apmapril11onethumb.gif" alt="apmapril11onethumb">
Sydney's house yields are up 0.7% over the quarter to 4.64% and unit yields increased 0.4% to 5.15%.
Nationally the median asking rent for units increased 2.2% in the three months ending March 2013, with Perth leading the pack.
Units rents rose 3.8% in Perth, 2.9% in Melbourne, 2.2% in Sydney and 1.8% in Adelaide. Unit rents remained unchanged in other state capitals.
<img height="211" width="470" src="/images/stories/2013/04/apmapril11twothumb.gif" alt="apmapril11twothumb">
House rents remained stable across the country, increasing 0.4%. House rents rose 7.7% in Darwin over the quarter, 4.3% in Perth and 1% in Canberra.  House rents fell 3.1% in Hobart and remained unchanged elsewhere.
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Sydney house rents push tenants into units: APM

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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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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