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The recovery in the US property market is picking up, writes Stephen "The Kouk" Koukoulas in his latest tweet.
Sales of existing homes picked up in October, with sales up 11% on the same time last year, according to Bloomberg. The number of homes on the market has fallen to its lowest level in a decade. 
Koukoulas also notes that the US stock market is up after four weeks of declines.
<a target="_blank" href="https://twitter.com/TheKouk"><img src="/images/stories/2012/11/kouktweet5.jpg"></a>
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US housing market recovery picking up amid stock market gains: Tweet of the day

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Hotels and resorts operate in a very competitive tourist accommodation market, with a variety of accommodation styles and quality available at a range of prices points to suit particular needs. Over the past five years, the industry has contended with weak global economic conditions and increased competition from the serviced apartments industry.

The hotels and resorts industry suffered large revenue declines in 2008-09 and 2009-10, when the global financial crisis wrought havoc on consumer sentiment and business confidence. For this reason, industry revenue is estimated to decline by an annualised 0.4% over the five years through 2012-13, to total $5.77 billion.
The hotels and resorts industry has responded well in the years since the financial crisis and has posted revenue gains in each of the past two years. Many hotel and resort operators reacted to the adverse economic conditions by cutting room rates and offering additional perks and services as part of packaged deals. While average takings per room remain low by historic standards, the industry's occupancy rate has reached a historic high of 72%. On the back of the high occupancy rate, particularly in city markets, revenue is expected to increase by 1.6% in 2012-13.
In 2012-13, the industry is estimated to employ 66,800 people, down substantially over the past five years. The fall in employment numbers has been a result of hotel and resort operators seeking to cut costs in response to the global financial crisis. More employees have moved into part-time or casual positions as operators have sought to cut fixed costs. In the five years though 2012-13, the industry has slashed $36.1 million in wage costs.
<img src="/images/stories/2012/11/ibisnov8.jpg">
Domestic tourism has been weak over the past five years as Australians have taken advantage of cheap flights to Asia and a favourable exchange rate. Australians are spending 8.6% less on domestic holidays in 2012 than they did 10 years ago. However, the tourism slack has been picked up by international arrivals, especially from Asian countries like China. This has been the main contributor to the industry's growth over the past decade.
<img src="/images/stories/2012/11/ibisnov81.jpg">
The hotels and resorts industry is well positioned to take advantage of the tourism market's paradigm shift towards more Asian travellers. Industry revenue is expected to increase by an annualised 1.8% over the next five years, to total $6.31 billion in 2017-18.
 
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<img src="/images/stories/2012/11/ibisnov82.jpg">
Hotels and resorts in the industry can be segmented via star ratings, which are dependent on the quality of rooms, facilities and services. These star ratings are assessed by the national AAA organisation through the various state motoring organisations, such as NRMA, RACV, RACQ, RAASA, RACWA and RACT. Classification depends on the standard of both facilities and services provided by hotels and resorts.
Overall, the majority of the industry's rooms are in the high-end range of four stars or greater. Four-star and five-star rooms are estimated to account for 56.9% of industry revenue and make up 79% of total hotel rooms in 2012-13. The largest segment in the industry is four-star rooms, which are estimated to account for 34.6% of the market, followed by five-star rooms with 22.3% of the market.
Most hotel operators derive over 30% of their revenue from sources other than accommodation, mainly from the sale of meals and beverages at their restaurants. Some of Australia's major hotels are attached to entertainment complexes that aim to provide guests with the complete on-site experience – for these types of hotels, room tariff revenue almost becomes secondary to non-room revenue.
Other revenue streams include the sale of in-room food and beverages, management fees and charges, interest and the hiring out of function rooms for conventions and meetings. Total estimated revenue derived from conventions and meetings (which includes meals and liquor provided at these receptions) is estimated to make up 9% of total revenue.
<h3>Major players</h3>
<ul>
<li>AAPC Limited (27.6%)</li>
<li>IHG Hotels Management (Australia) Pty Limited (9.6%)</li>
<li>Amalgamated Holdings Limited (9.2%)</li>
<li>Hilton International Australia Pty Limited (4.0%).</li>
</ul>
<h3>Industry outlook</h3>
The industry is expected to perform modestly over the next five years, constrained by a shaky global and domestic economic environment. While international tourist numbers are expected to increase, the European debt crisis, British recession and a slowdown in parts of Asia will continue to plague Australia's main tourism markets. To some extent, domestic tourism will remain at the mercy of exchange rate movements; the Australian dollar – which has been the nail in the industry's coffin over the past two years – is often unpredictable, but is expected to remain at high levels for at least the short term. IBISWorld forecasts that while revenue volatility will continue in the short term, revenue will increase by an annualised 1.8% over the next five years, to total $6.31 billion in 2017-18.
Karen Dobie is general manager Australia of <a target="_blank" href="https://www.ibisworld.com.au/">IBISWorld</a>
To purchase IBISWorld’s full, 37-page report on Australia’s Hotel and Resort Industry, <a rel="nofollow" href="https://www.ibisworld.com.au/industry/default.aspx?indid=1811">click here</a>. 
This story originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Australian hotels and resorts to benefit from increased tourist numbers

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There were 770 sales in Perth this week, up 15% from 670 the same week last year. The most actively traded suburb was East Perth, with 23 sales, followed by Scarborough, with 19. 
 
<img src="/images/stories/2012/11/reiwanov7.gif">
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Perth sales up 15% on same week last year: REIWA

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54 Nasmyth Street, Young, NSW, 2594 <img src="/images/stories/2012/11/naysmith.jpg" width="470">
This two-bedroom cottage in the NSW town of Young was recently rented for $150 per week and is currently vacant. LJ Hooker agent Christian Rowan says it would be a great investment opportunity. It is on a 758-square-metre block with a garage and is within walking distance of schools.
Rowan is marketing the property<a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $100,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 7.8% at a rent of $150 per week,  well above the gross rental yield for Young houses of 5.6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $2,000 and over five years to be $4,000.
The median house price in Young rose 6.5% in the past year and 13.6% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Young, see the RP Data suburb page.</a>
The property will go to auction Saturday, November 10 at 10am. 
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Friday form guide: Yields of up to 7.8% in Young

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<a target="_blank" href="/news"><img src="/images/stories/2012/10/10mplus.gif"></a>
The price hopes <a target="_blank" href="/news">Stockland Property Group's departing managing director Matthew Quinn</a> has for his McMahons Point home. Quinn announced in July that he would leave Stockland after 12 years.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500"><img src="/images/stories/2012/10/75percent.gif"></a>
The approximate percentage of Melbourne properties surveyed by Property Observer in October <a target="_blank" href="https://www.propertyobserver.com.au/residential/sale-prices-edge-87-above-estimates-of-melbourne-agents-underquoting-at-october-auctions/2012102957500">that sold for above their quoted pre-auction price guide</a>. On average, those 55 properties sold for 8.7% above the upper bracket of the price range indicated by the agents.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/12point5mplus.gif"></a>
The <a target="_blank" href="/news">price hopes Dirty Deeds filmmaker Deborah Balderstone</a> and her husband, John, an investment manager, have for their Elizabeth Bay villa. Hidden from the street by a high wall within gardens designed by William Dangar, it's on Billyard Avenue non-waterfront block, although it comes with shared jetty access.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/higher-discounts-required-in-sydney-and-melbourne-to-achive-spring-sales-apm/2012103057498"><img src="/images/stories/2012/10/9point1percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/higher-discounts-required-in-sydney-and-melbourne-to-achive-spring-sales-apm/2012103057498">average amount of discounting required to sell properties in Hobart</a>, according to APM. This was the highest required discounting of all state capitals.
 
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<a target="_blank" href="/news"><img src="/images/stories/2012/10/50percent.gif"></a>
The <a target="_blank" href="/news">likelihood that the RBA will cut the cash rate on Melbourne Cup Day</a>, according to Commonwealth Bank chief economist Michael Blythe. Economists had thought it was a sure bet until a speech this week by RBA deputy governor Philip Lowe.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/developments/dwelling-approvals-rise-78-in-september-and-dampen-melbourne-cup-cash-rate-cut-prospects/2012103157544"><img src="/images/stories/2012/10/7point8percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/developments/dwelling-approvals-rise-78-in-september-and-dampen-melbourne-cup-cash-rate-cut-prospects/2012103157544">rise in dwelling approvals in September</a>. This was the second consecutive month they have risen following a 6.4% rise in August. Dwelling approvals fell 21.2% in July.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501"><img src="/images/stories/2012/10/5point25m.gif"></a>
The approximate price <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fairfax-media-director-michael-anderson-sells-hopewood-house-in-southern-highlands/2012103157501">Fairfax Media director Michael Anderson</a> and his wife, Susie, secured for Hopewood House, their historic matrimonial Southern Highlands mansion.
 
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The 7 must-know numbers of the week, starting with Stockland boss Matthew Quinn's McMahons Point price hopes

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<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/7a-79-atherton-road-oakleigh/Property-Details-buy-residential-4593451">7a/79 Atherton Road, Oakleigh, VIC, 3166</a>
<img src="/images/stories/2012/10/atherton.jpg" width="470">
Within easy walking distance of Oakleigh train station, shops and cafes, this two-bedroom apartment is currently leased at $380 per week on a month-to-month lease. Listing agent Nick Blow of Hodges says this is about at market rent for the unit. It has reverse-cycle air-conditioning as well as a basement car park and storage.
Blow <a href="https://www.barryplant.com.au/property.cfm?propertyID=2175147&amp;realestate=1_Balmoral_Way_PAKENHAM_VIC_3810&amp;menuItemID=41771" target="_blank">is marketing the property</a><a target="_blank" href="https://www.buxton.com.au/"> </a>with price hopes of $350,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.7% at a rent of $350 per week,  well above the gross rental yield for Oakleigh units of 4%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $9,000 and over five years to be $31,000.
The median unit price in Oakleigh rose 16.8% in the past year and 29.4% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Oakleigh, see the RP Data suburb page.</a>
The property will be open for inspection on Saturday, October 27 at noon and will go to auction on Saturday, November 3 at noon.
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Friday form guide: Yields of up to 5.7% in Oakleigh

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<img src="/images/stories/2012/10/20point8percent.gif">
The amount by which unit rents have increased in Perth in the 12 months to September, according to Residex. The median unit asking rent is $435, and the median yield is 5.3%.
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<img src="/images/stories/2012/10/20percent.gif">
The amount by which unit rents have increased in Sydney in the 12 months to September, according to Residex. The median unit asking rent is $540, and the median yield is 5.6%.
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<img src="/images/stories/2012/10/12point5percent.gif">
The amount by which unit rents have increased in Melbourne in the 12 months to September, according to Residex. The median unit asking rent is $405, and the median yield is 4.9%.
 
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<img src="/images/stories/2012/10/12point2percent.gif">
The amount by which unit rents have increased in Darwin in the 12 months to September, according to Residex. The median unit asking rent is $505, and the median yield is 6.4%.
 
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<img src="/images/stories/2012/10/5point8percent.gif">
The amount by which unit rents have increased in ACT in the 12 months to September, according to Residex. The median unit asking rent is $460, and the median yield is 5.8%.
 
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The amount by which unit rents have increased in Brisbane in the 12 months to September, according to Residex. The median unit asking rent is $370, and the median yield is 5.5%.
 
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<img src="/images/stories/2012/10/3point6percent.gif">
The amount by which unit rents have increased in Hobart in the 12 months to September, according to Residex. The median unit asking rent is $285, and the median yield is 5.9%.
 
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<img src="/images/stories/2012/10/3point5percent.gif">
The amount by which unit rents have increased in Adelaide in the 12 months to September, according to Residex. The median unit asking rent is $295, and the median yield is 5.1%.
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<img src="/images/stories/2012/10/13point9percet.gif">
The amount by which unit rents have increased across Australia in the 12 months to September, according to Residex. The median unit asking rent is $410, and the median yield is 5.4%.
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Double-digit unit rental growth in major capitals, bar Brisbane, in past year: Residex

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Western Australia's property market is not necessarily benefiting fully from the resources boom, according to SQM Research director Louis Christopher, as temporary migrants to the state tend to rent rather than buy. 
Noting that three properties on SQM Research's top 10 most discounted properties list are in WA, Christopher says increased migration and increased jobs do not translate necessarily into property sales. They are a house, a flat and a residential development site.
"Because employment opportunities are in may cases short term, those recruited into such positions would rather rent that buy homes in these localities as they do not intend to reside there for the long term," he says.
"This could potentially explain why there have been ongoing substantially discounted homes hanging around on the market in Perth and other regions within WA, as making a permanent investment in property is not necessarily as popular as the demand for temporary accommodation."
 
1 <a href="https://www.realestate.com.au/property-house-qld-closeburn-107603313" target="_blank">34 Seraya Court, Closeburn, Queensland 4520</a>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Forresters-Beach/?adid=2008587390"></a>Days on the market: 434 Initial asking price: $145 million Current asking price: $798,000 Reduction: 45%
2
<a target="_blank" href="https://www.realestate.com.au/property-other-tas-taranna-106879142">5756 Arthur Highway, Taranna, Tasmania, 7180</a>
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420"></a>Days on the market: 741 Initial asking price: $499,000 Current asking price: $299,000 Reduction: 40%
3
<a target="_blank" href="https://www.realestate.com.au/property-livestock-qld-caboolture-7262420">19 Lychee Drive, Caboolture, Queensland, 4510</a>
Days on the market: 881 Initial asking price: $949,000 Current asking price: $586,000 Reduction: 38%
4
<a target="_parent" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
Days on the market: 643 Initial asking price: $2.95 million Current asking price: $1.85 million Reduction: 37%
5
<a href="https://www.realestate.com.au/property-unit-qld-bellara-108744741" target="_blank">4/5 Thornely Close, Bellara, Queensland, 4507</a>
Days on the market: 336 Initial asking price: $599,000 Current asking price: $380,000 Reduction: 37%
6
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-two+rocks-106211228">15 Gretel Two Rocks, WA, 6037</a>
Days on the market: 1,029 Initial asking price: $1.1 million Current asking price: $690,000 Reduction: 36%
7
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-white+beach-106479093">588 White Beach Road, White Beach, Tasmania, 7184</a>
Days on the market: 881 Initial asking price: $780,000 Current asking price: $499,000 Reduction: 36%
8
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/Townhouse/NSW/Magenta/?adid=2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
Days on the market: 1,586 Initial asking price: $700,000 Current asking price: $450,000 Reduction: 36%
 
9
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-armadale-105464925">99 Lowanna Way, Armadale, WA, 6112</a>
Days on the market: 1,298 Initial asking price: $1.85 million Current asking price: $1.2 million Reduction: 35%
10
<a href="https://www.realestate.com.au/property-apartment-wa-scarborough-105849569" target="_blank">15/2 Brighton Road, Scarborough, WA, 6019</a>
Days on market: 1,199 Initial asking price: $1.2 million Current asking price: $790,000 Reduction: 34%
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
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Resources boom helping rental market, but not property sales, in WA: SQM Research

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A five-bedroom Killara house that sold under the hammer for $4,225,000 was this week's top sale, according to RP Data. 
The house, which was sold by McConnell Bourn Lindfield agent Roslynne Rogers, in conjunction with McGrath agent Philip Waller, was originally put on the market in December last  year with $7.5 million hopes through Century 21. When it had not sold by May of this year with reduced price hopes of $6 million plus, the agents took over the listing with a price guide of $5.5 million plus, according to RP Data. By early July of this year the price guide had been taken off the listing.
Rogers says there were two registered bidders on Saturday, but only one willing to put up a hand. She says the vendor is happy with the sale price achieved.
The 2,700-square-metre property includes a full-sized tennis court, three-car garage and swimming pool. It last sold for $1.75  million in 1988.
1. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/44_northcote_avenue_killara_nsw_2071/3329601" target="_blank">44 Northcote Avenue, Killara, NSW, 2071</a>, five-bedroom house, sold at auction on October 27 by McConnell Bourn Lindfield for $4.225 million
2. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/24_dean_street_kew_vic_3101/14558866" target="_blank">24 Dean Street, Kew, VIC, 3101</a>, four-bedroom house, sold at auction on October 27 by Marshall White Real Estate for $3.92 million
3. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/49_the_boulevarde_cammeray_nsw_2062/1695176" target="_blank">49 The Boulevarde, Cammeray, NSW, 2062</a>, three-bedroom house, sold at auction on October 25 by Ray White Lower North Shore for $3.75 million
4. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/6_the_terrace_abbotsford_nsw_2046/7928600" target="_blank">6 The Terrace, Abbotsford, NSW, 2046</a>, four-bedroom house, sold at auction on October 27 by McGrath Estate Agents for $3.6 million
5. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/77_st_vincent_street_albert_park_vic_3206/9183831" target="_blank">77 St Vincent Street, Albert Park, VIC, 3206</a>, four-bedroom house, sold at auction on October 28 by Cayzer Real Estate Albert Park for $3.325 million
6. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/23_mermaid_avenue_maroubra_nsw_2035/4046325" target="_blank">23 Mermaid Avenue, Maroubra, NSW, 2035</a>, four-bedroom house, sold at auction on October 27 by Black Lifestyle Property for $2.725 million
7.  <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/284_domain_road_south_yarra_vic_3141/13136177" target="_blank">284 Domain Road, South Yarra, VIC, 3141</a>, four-bedroom house, sold at auction on October 27 by Bennison Mackinnon Real Estate Armadale for $2.65 million
8. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/6_coastview_place_freshwater_nsw_2096/15786147" target="_blank">6 Coastview Place, Freshwater, NSW, 2096</a>, five-bedroom house, sold at auction on October 25 by L J Hooker Seaforth for $2.5 million
9. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/124_rowell_avenue_camberwell_vic_3124/10227076" target="_blank">124 Rowell Avenue, Camberwell, VIC, 3124</a>, five-bedroom house, sold at auction on October 27 by Jellis Craig Real Estate Hawthorn for $2.47 million
10. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/145_seaforth_crescent_seaforth_nsw_2092/6144387" target="_blank">145 Seaforth Crescent, Seaforth, NSW, 2092</a>, four-bedroom house, sold on October 24 by Richardson &amp; Wrench Seaforth for $2.4 million
 
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Five-bedroom Killara home top sale of the week: RP Data

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<img src="/images/stories/2012/10/21point5percent.gif">
The amount that house rents have increased in Perth in the 12 months to September, according to Residex. The median weekly asking rent for houses is $480 and the median yield is 5%.
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<img src="/images/stories/2012/10/11point8percent.gif">
The amount that house rents have increased in Melbourne in the 12 months to September, according to Residex. The median weekly asking rent for houses is $425 and the median yield is 4%.
 
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<img src="/images/stories/2012/10/10point7percent.gif">
The amount that house rents have increased in Sydney in the 12 months to September, according to Residex. The median weekly asking rent for houses is $570 and the median yield is 4.5%.
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<img src="/images/stories/2012/10/10point6percent.gif">
The amount that house rents have increased in Canberra in the 12 months to September, according to Residex. The median weekly asking rent for houses is $520 and the median yield is 5.2%.
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<img src="/images/stories/2012/10/10point5percent.gif">
The amount that house rents have increased in Brisbane in the 12 months to September, according to Residex. The median weekly asking rent for houses is $420 and the median yield is 5.2%.
 
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<img src="/images/stories/2012/10/8point4percent.gif">
The amount that house rents have increased in Darwin in the 12 months to September, according to Residex. The median weekly asking rent for houses is $580 and the median yield is 6%.
 
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<img src="/images/stories/2012/10/7point4percent.gif">
The amount that house rents have increased in Hobart in the 12 months to September, according to Residex. The median weekly asking rent for houses is $365 and the median yield is 5.2%.
 
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<img src="/images/stories/2012/10/4point6percent.gif">
The amount that house rents have increased in Adelaide in the 12 months to September, according to Residex. The median weekly asking rent for houses is $345 and the median yield is 4.7%.
 
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<img src="/images/stories/2012/10/9point3percent.gif">
The amount that house rents have increased across Australia in the 12 months to September, according to Residex. The median weekly asking rent for houses is $420 and the median yield is 5%.
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Perth house rents up 22% in a year: Residex state-by-state analysis

<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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[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.

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[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.

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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.

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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.

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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.

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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.

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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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Cassidy Knowlton

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