<html><body>
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/record-seeking-brighton-offering-kinane-to-lose-half-its-tennis-court-as-825-square-metre-block-shaved-off-for-separate-sale/2012071555582"><img src="/images/stories/2012/07/4m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/victoria/record-seeking-brighton-offering-kinane-to-lose-half-its-tennis-court-as-825-square-metre-block-shaved-off-for-separate-sale/2012071555582">price hopes for an 825-square-metre parcel of land </a>that businessman Russell Small has shaved off of his record-seeking Brighton mansion Kinane to sell separately. The Kinane estate will lose its outdoor pool and half its tennis court. The entire estate had $20 million hopes on its August listing.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/palm-beach-trophy-home-kaluas-record-setting-price-revealed-at-%2422-million/2012071655601"><img src="/images/stories/2012/07/22m.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/palm-beach-trophy-home-kaluas-record-setting-price-revealed-at-%2422-million/2012071655601">sale price of Kalua</a>, the Joye family’s plantation-style Palm Beach trophy home, which sold to retired Sydney car dealer Laurie Sutton. Sutton and his wife will be the 1920s beach bungalow’s third owner. It was last sold by the Hordern retailing family to the more entrepreneurial Joye family, the current vendors, for $330,000 in 1978.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/upwardly-mobile-waterloo-sydney-shows-impact-of-urban-regeneration/2012071655602"><img src="/images/stories/2012/07/167percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/upwardly-mobile-waterloo-sydney-shows-impact-of-urban-regeneration/2012071655602">amount that weekly household income rose</a> between 2001 and 2011 in the Sydney suburb of Waterloo. The suburb has shaken off a reputation for crime and its low socio-economic profile to become a sought-after location for inner-city apartment living. 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/australias-purported-housing-shortage-of-85000-dwellings-is-complete-fiction-philip-soos/2012071655590"><img src="/images/stories/2012/07/85k.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/australias-purported-housing-shortage-of-85000-dwellings-is-complete-fiction-philip-soos/2012071655590">deficit of dwellings in Australia</a>, according to a 2009 National Housing Supply Council report. Academic Philip Soos from Deakin University has rubished this figure, saying "the purported shortage of 85,000 dwellings was complete fiction". 
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/office/investor-pays-%243686-per-square-metre-for-whole-floor-in-fender-katsalidis-melbourne-office-block/2012071855629"><img src="/images/stories/2012/07/3686.gif"></a>
The price per square metre an investor has paid for a 434-square-metre whole office floor in a <a target="_blank" href="https://www.propertyobserver.com.au/office/investor-pays-%243686-per-square-metre-for-whole-floor-in-fender-katsalidis-melbourne-office-block/2012071855629">Fender Katsalidis-designed 14-level office building</a> on La Trobe Street in Melbourne's CBD. 
 
<hr>
<a href="https://www.propertyobserver.com.au/victoria/simone-callahan-sells-arthurs-seat-home-for-%2415-million/2012071755623" target="_blank"><img src="/images/stories/2012/07/1point5m.gif"></a>
The <a href="https://www.propertyobserver.com.au/victoria/simone-callahan-sells-arthurs-seat-home-for-%2415-million/2012071755623" target="_blank">sale price for Simone Callahan's four-bedroom Arthurs Seat home </a>with a tennis court and swimming pool, and guest quarters. Shane Warne's ex-wife had first put it on the market in March 2010 with a $2 million price tag. 
 
<hr>
 
<img src="/images/stories/2012/07/70.gif">
The number of storeys in Brookfield Residential's approved Sydney residential tower proposal for its Sydney Water Board site. It will also be the tallest residential tower in the Sydney skyline at 240 metres, beating off Meriton's 230-metre tall World Tower, which dates back to 2004.
</body></html>

cknowlton-QnEa6ntUYP

The 7 must-know numbers of the week, starting with price hopes for piece of Brighton estate Kinane

<html><body>
The advantages of starting your business from the comfort of your own home are clear – you keep your overheads to a minimum, you eliminate the daily commute and you can be flexible with your hours. 
But there a number of myths that surround home working. Many people can’t grasp that a serious business, rather than a hobby, can be built from your home. 
So, if you’re weighing up whether to launch your business from the spare bedroom or kitchen, here are 10 common misconceptions you must be aware of:
1. The hours are easy
<img src="/images/stories/2012/07/clocksus.jpg">
It’s tempting to think that running a home-based business involves a few hours on the computer in the morning, a nice leisurely lunch, maybe a phone call or two in the afternoon before an early finish. 
However, if your business is to be anything other than a mildly diverting sideline, you will have to put in the work. 
“When you’re by yourself, you do everything – bookkeeping, marketing, sales, the lot,” says Cas McCullough, who runs social enterprise <a target="_blank" href="https://mumatopia.com/" rel="nofollow">Mumatopia</a> and <a target="_blank" href="https://www.supportawahp.com/" rel="nofollow">Support a Work At Home Person</a> from her house. 
“All of this takes a lot of time and people underestimate this. They often take things on as a hobby and then find it is very popular and organically grows. They don’t think long term.” 
Set a strategy for your business early on, have an in-depth business plan. And consider outsourcing – it’ll save you time.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
<hr class="system-pagebreak">
2. You can sit back and get rich quickly
<img src="/images/stories/2012/07/chairsus.jpg">
Despite what the endless ads tell you, there aren’t many jobs that will earn you big bucks just by staying at home making the odd phone call. 
“You look at the content behind those stupid Google ads about homeworking and it promises that you’ll be working for about seven minutes a day,” says McCullough. 
“You can be a success if you have the right business model but, if not, you’ll fall on your face.” 
“People who are pushed into home working because they lose their job or think they will get rich quick are more likely to fall over. They set up a Facebook page and wonder why no one has turned up.” 
“It’s better to start a business that you’re passionate about. You’re then more likely to be proactive and engage with people.”
 
<hr class="system-pagebreak">
3. You don’t need to spend money on day care
<img src="/images/stories/2012/07/daycaresus.jpg">
For busy parents, working from home may seem like the ideal solution – not only do you see more of your family but you also save money on day care for your children. 
Right? 
“You will occasionally, if not regularly, need a babysitter for your children,” says McCullough. “I have regular care once a week and sometimes my husband can help out, but you need the balance as you will need to go out for meetings.” 
“Also, your business commitments won’t keep to normal working hours, when your kids may be at school.”
 
<hr class="system-pagebreak">
4. It’s not a real job
<img src="/images/stories/2012/07/realsus.jpg">
Perhaps the most hurtful myth about home-based working is that it is somehow a lesser job. That it is a frivolous hobby for bored mothers, rather than a platform for fast-growth businesses, ignoring the fact that the likes of Google and Amazon started life as home-based start-ups. 
“A lot of people tell me that it’s not a real job and I can see the irritation that causes others who work from home,” says McCullough. 
“It has got a bit of a bad rap, but just look at the number of people who work from home. Look at what many of them go on to achieve. They are worthwhile businesses and they are contributing to the economy.”
 
<hr class="system-pagebreak">
5. All you’re doing is moving your job to your home
<img src="/images/stories/2012/07/jobhomesus.jpg">
 If you’re moving from a corporate career to working from home, it’s natural to think that you can just supplant your previous working life and routine into your new one. 
Jane Shelton, managing director of <a target="_blank" href="https://www.propertyobserver.com.au/https://marshallplace.com.au/node/41" rel="nofollow">Marshall Associates</a> and author of No Workplace Like Home, advises: “It's always nice to have a steady routine in a large corporation, where there are colleagues at hand to address the various competing demands of the clients and superiors, but when the only boss you have to blame is yourself, the rules of the game must change.” 
“Time schedules have to be modified to address your role in the value chain, the demands of business development, the schedules of family, friends and of course competitive suppliers of your products and services.” 
“A better way to respond to the time schedule and routine is to look at it as a question addressed by your business and marketing plans.” 
“You will find that the way that you go about the only real task of business – creating and corralling customers – relies on a systematic focus on staying within the decision-making cycle of your clients, customer and business communities of interest.”
 
<hr class="system-pagebreak">
6. You don’t have to worry about health and safety
<img src="/images/stories/2012/07/healthsafesus.jpg">
If you are wallowing in a messy, potentially dangerous home-based office, you risk more than being called a slob. 
Not only is your own health and safety important if you are to keep running your business, but any staff and clients will need to be protected too, as a recent case where Telstra had to pay medical and legal costs for an injured home worker highlighted. 
“Ensuring that your home is a safe workplace doesn’t happen by chance or guesswork,” Shelton says. 
“It requires a systematic approach to finding and fixing hazards and risks and any particular circumstances that apply to your home working base.” 
Shelton advises going through five key steps to get your OHS in good shape:
<ol>
<li>Finding hazards that could hurt the people who either live, work or visit your home.</li>
<li>Family forums that bring together all of these people on a regular basis to make sure that they are as safety conscious as you are and undertake the safety drills that are an essential part of hazard awareness.</li>
<li>Figuring out how the people in and around your home life could get hurt and working life hazards (the level of risk).</li>
<li>Fixing identified problems by sorting out and installing the most effective risk controls that are reasonably practicable under your circumstances.</li>
<li>Following through on your risk controls and checking that they are working to cope when things do not go according to plan.</li>
</ol>
 
<hr class="system-pagebreak">
 7. Your home life will remain exactly the same
<img src="/images/stories/2012/07/homelifesus.jpg">
Home is a nice place to relax and turn off after a long, hard day at work. Surely, if you spend all day there, you will be permanently in the comfort zone? Shelton has some words of warning. 
“Firstly, map your own interests and personal priorities and then set out how the start-up is going to help you achieve your objectives,” she says. 
“Be honest with yourself and answer these core questions: How will this venture change our way of life? What do I really like doing, and how will it shape my family's future?” 
“Who can support me while I get the business up and running? Where will all this take us and what will it cost to succeed?” 
“Then you need to set aside a fixed amount of time for your business homework, when the kids have done theirs and get partners and friends to share the burden of developing your start-up as an adjunct to your family life rather than an alternative to it.”
 
<hr class="system-pagebreak">
 8. Clients won’t take you seriously
<img src="/images/stories/2012/07/jestersus.jpg">
Many budding entrepreneurs fret about the impression left upon clients by their home office. 
Obviously, you don’t want to hold an important meeting with a key client while you are both wedged on the sofa, trying to ignore the child that is watching cartoons on the TV. 
But this doesn’t mean that it’s impossible to convey a professional demeanour to clients. 
If they have to come to your house, set aside a room for meetings and ensure there aren’t any interruptions. Better still, hold the meeting at a café or at a serviced office that you can rent out by the hour. 
There are other tricks to making your business appear bigger, such as adopting a 1800 telephone number, but, ultimately, your customers will primarily care about the products or service you provide them. You working from home shouldn’t be a factor.
 
<hr class="system-pagebreak">
 9. There’s no good financial reason, other than cutting overheads
<img src="/images/stories/2012/07/chestsus.jpg">
A common rationale for working from home is the money it will save you on office space, furniture and commuting. 
But don’t be fooled into thinking that there is little other financial reason to working from home other than the overheads you’ll save on. 
Australia’s tax code is fairly generous for entrepreneurs with home offices, with deductions offered for factors such as electricity, cleaning supplies, depreciation of office equipment, mortgage interest, rent, rates and insurance. 
Indeed, the Tax Office provides a “bonus deduction” of 50% for small businesses with qualifying assets.
 
<hr class="system-pagebreak">
 
10. Being at home all day is awesome
<img src="/images/stories/2012/07/paperworksus.jpg">
Office dwellers commonly think that working from home is an indulgent luxury that they’d give their right arm to experience. 
In reality, working from home by yourself for a long period can be quite taxing. Entrepreneurs often miss the collaboration and interaction that comes with working alongside colleagues. 
Shelton says: “You need a staged plan that lists the people who are your keys to success. This means that you identify business leaders, distributors and potential customers who you plan to meet and greet.” 
“By doing this you are proactively establishing what’s new and different and can overcome that sense of being cut off by your start-up activities.” 
“Pick up the phone, send them an email and invite their comment on what you are doing.”
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
</body></html>

The top 10 myths about running a business from home

<html><body>
The number of days property is lingering on the market before sale is increasing in most capitals and was higher in June 2012 than two years ago across Australia, according to Australian Property Monitors.
In Sydney, Melbourne and Canberra the average days on market figure for residential property peaked in the traditionally slow month of January this year. It took Sydney vendors an average of 95 days to sell property in January, slightly more than the 88 days it took on average in June 2012 and well up on the 62 average in June 2010.
Melbourne vendors took an average of 103 days to sell property in January this year, more than 50 days it took on average in June 2010. The number of days on market had fallen slightly to 96 by June 2012.
The number of days on market peaked in Canberra in February this year at an average of 87 days, with vendors taking an average of 82 days to secure a buyer in June. 
In Brisbane and Hobart the number of days homes lingered on the market in June 2012 was the highest it had been for more than two years. The days on market figure in Perth in June 2012 was just one day short of its April 2012 peak of 137.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/apmjuly161.gif" title="Click to enlarge"><img src="/images/stories/2012/07/apmjuly161thumnb.gif"></a>
</body></html>

Canberra still somewhat snappy, but days on market increasing in many capitals as property market cools: APM

Melbourne unit prices – how your suburb went in the 2012 June quarter: REIV

Melbourne house prices – how your suburb went in the 2012 June quarter: REIV

<html><body>
Median prices rebounded in the June quarter assisted by limited top-end Melbourne house activity, but still remain 5.3% lower annually, according to the Real Estate Institute of Victoria.

Reversing a trend of the past year, top-end Melbourne house prices rebounded 6.7% in the June quarter, according to the REIV. 
Overall, Melbourne house prices rose 2.9% to a median of $535,000 in the June quarter, with the lowest-priced quartile rising 2.6%.
Median prices sit at 5.3% lower over the year.
In the year to March, <a href="https://www.propertyobserver.com.au/victoria/victorian-median-house-prices-and-quarterly-and-annual-changes-reiv/2012041354262" target="_blank">house prices fell furthest in more affluent suburbs</a>, but in the June quarter house prices in the priciest 5th percentile rose from a median price of $1,406,500 to a median of $1,500,250.
This trend was reversed for unit prices, with prices for the most expensive units (those in the 95th percentile) falling an average of 3.3%, from a median of $950,900 to $920,000.
The REIV chief Enzo Raimondo said that a combination of broader economic factors, slowing population growth and continuing low levels of consumer confidence had resulted in no real capital growth in the residential market over the past year. 
But the REIV chief Enzo Raimondo noted while the overall median price had fallen 5.3% over the past 12 months the overall median had not changed in the past six months.
“Both buyers and sellers are approaching the market in a conservative manner. This is translating into a lower number of sales than is present in a strong market and as a result, no real price growth has been recorded.
“The real estate market moves in cycles and, after the initial price falls in 2011, it is now in a period of stability marked by low activity.
Raimondo noted the median price had fallen 5.3% over the past 12 months but the overall median had not changed in the past six months.
The affluent suburb of East Melbourne had Melbourne's greatest increase in unit prices during the June 2012 quarter, according to the Real Estate Institute of Victoria and Toorak had the highest house price growth.
But agents caution that it's not likely that the approximnate 50% hikes in their median represented an actual shift in prices, but rather the predominance of pricey sales within the fewer than 30 actual sales.
It more likely reflected the dominence of a particular pricey market segment or even new development amid limited sales activity, rather than a dramatic price shift.
in the median represented an actual shift in prices, but rather the predominance of pricey unit sales within the fewer than 30 actual sales. The same goes with significant downwards shifts, which again reflect the dominence of a particular market segment amid limited sales activity, rather than a dramatic price shift.
Regional dwelling prices slid in the June quarter. At the same time last year <a href="https://www.propertyobserver.com.au/victoria/victorian-regional-centres-outperforming-melbourne-reiv/2011072550898" target="_blank">regional Victorian suburbs outperformed their Melbourne peers</a>, but after a <a href="https://www.propertyobserver.com.au/victoria/regional-victorian-property-prices-going-nowhere/2012042654439" target="_blank">flat March quarter</a> regional house and unit prices fell in the June quarter. 
Regional Victorian house prices fell an average of 1.6% in the June quarter, with unit prices faring even worse, with a 4.5% fall. 
Melbourne 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="73" nowrap valign="top">
House Prices
</td>
<td width="77" valign="top">
Jun-12 Q
</td>
<td width="62" valign="top">
% chg to last q
</td>
<td width="84" valign="top">
Mar-12 Q
</td>
<td width="50" valign="top">
% chg to q last year
</td>
<td width="84" valign="top">
Jun-11 Q
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Lower Quartile
</td>
<td width="77" nowrap valign="top">
$400,000
</td>
<td width="62" nowrap valign="top">
2.6%
</td>
<td width="84" nowrap valign="top">
$390,051
</td>
<td width="50" nowrap valign="top">
-3.6%
</td>
<td width="84" nowrap valign="top">
$415,000
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Median
</td>
<td width="77" nowrap valign="top">
$535,000
</td>
<td width="62" nowrap valign="top">
2.9%
</td>
<td width="84" nowrap valign="top">
$520,000
</td>
<td width="50" nowrap valign="top">
-5.3%
</td>
<td width="84" nowrap valign="top">
$565,050
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Upper Quartile
</td>
<td width="77" nowrap valign="top">
$750,000
</td>
<td width="62" nowrap valign="top">
2.7%
</td>
<td width="84" nowrap valign="top">
$730,000
</td>
<td width="50" nowrap valign="top">
-6.1%
</td>
<td width="84" nowrap valign="top">
$798,750
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
85th Percentile
</td>
<td width="77" nowrap valign="top">
$940,000
</td>
<td width="62" nowrap valign="top">
5.0%
</td>
<td width="84" nowrap valign="top">
$895,000
</td>
<td width="50" nowrap valign="top">
-4.2%
</td>
<td width="84" nowrap valign="top">
$981,650
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
95th Percentile
</td>
<td width="77" nowrap valign="top">
$1,500,250
</td>
<td width="62" nowrap valign="top">
6.7%
</td>
<td width="84" nowrap valign="top">
$1,406,500
</td>
<td width="50" nowrap valign="top">
-0.7%
</td>
<td width="84" nowrap valign="top">
$1,510,000
</td>
</tr>
</tbody></table>
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="75">
Unit Prices
</td>
<td valign="top" width="79">
Jun-12 Q
</td>
<td valign="top" width="74">
% chg to last q
</td>
<td valign="top" width="81">
Mar-12 Q
</td>
<td valign="top" width="59">
% chg to q last year
</td>
<td valign="top" width="81">
Jun-11 Q
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Lower Quartile
</td>
<td valign="top" nowrap width="79">
$357,500
</td>
<td valign="top" nowrap width="74">
2.1%
</td>
<td valign="top" nowrap width="81">
$350,000
</td>
<td valign="top" nowrap width="59">
-2.1%
</td>
<td valign="top" nowrap width="81">
$365,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Median
</td>
<td valign="top" nowrap width="79">
$450,000
</td>
<td valign="top" nowrap width="74">
1.9%
</td>
<td valign="top" nowrap width="81">
$441,500
</td>
<td valign="top" nowrap width="59">
-4.1%
</td>
<td valign="top" nowrap width="81">
$469,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Upper Quartile
</td>
<td valign="top" nowrap width="79">
$580,000
</td>
<td valign="top" nowrap width="74">
-1.5%
</td>
<td valign="top" nowrap width="81">
$589,000
</td>
<td valign="top" nowrap width="59">
-4.9%
</td>
<td valign="top" nowrap width="81">
$610,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
85th Percentile
</td>
<td valign="top" nowrap width="79">
$680,000
</td>
<td valign="top" nowrap width="74">
-1.1%
</td>
<td valign="top" nowrap width="81">
$687,350
</td>
<td valign="top" nowrap width="59">
-4.9%
</td>
<td valign="top" nowrap width="81">
$715,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
95th Percentile
</td>
<td valign="top" nowrap width="79">
$920,000
</td>
<td valign="top" nowrap width="74">
-3.3%
</td>
<td valign="top" nowrap width="81">
$950,900
</td>
<td valign="top" nowrap width="59">
-7.1%
</td>
<td valign="top" nowrap width="81">
$990,000
</td>
</tr>
</tbody></table>
 
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
Regional Victoria
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="64" nowrap valign="top">
House Prices
</td>
<td width="76" valign="top">
Jun-12 Q
</td>
<td width="44" valign="top">
% chg to last q
</td>
<td width="76" valign="top">
Mar-12 Q
</td>
<td width="70" valign="top">
% chg to q  last year
</td>
<td width="79" valign="top">
Jun-11 Q
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Lower Quartile
</td>
<td width="76" nowrap valign="top">
$231,000
</td>
<td width="44" nowrap valign="top">
 
</td>
<td width="76" nowrap valign="top">
 
</td>
<td width="70" nowrap valign="top">
 
</td>
<td width="79" nowrap valign="top">
 
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Median
</td>
<td width="76" nowrap valign="top">
$305,000
</td>
<td width="44" nowrap valign="top">
-1.6%
</td>
<td width="76" nowrap valign="top">
$310,000
</td>
<td width="70" nowrap valign="top">
-4.7%
</td>
<td width="79" nowrap valign="top">
$320,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Upper Quartile
</td>
<td width="76" nowrap valign="top">
$402,750
</td>
<td width="44" nowrap valign="top">
 
</td>
<td width="76" nowrap valign="top">
 
</td>
<td width="70" nowrap valign="top">
 
</td>
<td width="79" nowrap valign="top">
 
</td>
</tr>
</tbody></table>
 
  Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="67">
Unit Prices
</td>
<td valign="top" width="91">
Jun-12 Q
</td>
<td valign="top" width="72">
% chg to last q
</td>
<td valign="top" width="77">
Mar-12 Q
</td>
<td valign="top" width="80">
% chg to last year
</td>
<td valign="top" width="70">
Jun-11 Q
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Lower Quartile
</td>
<td valign="top" nowrap width="91">
$200,000
</td>
<td valign="top" nowrap width="72">
 
</td>
<td valign="top" nowrap width="77">
 
</td>
<td valign="top" nowrap width="80">
 
</td>
<td valign="top" nowrap width="70">
 
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Median
</td>
<td valign="top" nowrap width="91">
$247,250
</td>
<td valign="top" nowrap width="72">
-4.5%
</td>
<td valign="top" nowrap width="77">
$259,000
</td>
<td valign="top" nowrap width="80">
-1.1%
</td>
<td valign="top" nowrap width="70">
$250,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Upper Quartile
</td>
<td valign="top" nowrap width="91">
$289,000
</td>
<td valign="top" nowrap width="72">
 
</td>
<td valign="top" nowrap width="77">
 
</td>
<td valign="top" nowrap width="80">
 
</td>
<td valign="top" nowrap width="70">
 
</td>
</tr>
</tbody></table>
 
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
 
</body></html>

Surprise Melbourne median house price rebound - 2.9% in June quarter, with biggest growth in the top end: REIV

<html><body>
13 Caird Place, Seven Hills, NSW 2147
<img src="/images/stories/2012/07/caird.jpg">
An extra-large six-bedroom house in a quiet cul-de-sac could appeal to investors, as its current tenants pay $550 per week. It is within walking distance of Seven Hills North Public and Seven Hills High School and also close to the train station, M2 and M7. The tenants are on an expired lease but are keen to stay on. It also includes a two-car garage and a pergola and barbecue area.
John Law Property agent Jay Chaudhary<a href="https://www.realestate.com.au/property-house-nsw-seven+hills-110761767" target="_blank"> is marketing the property</a> with price hopes of $350,000 plus, and if it sells for that price that would secure an investor a remarkable gross rental yield of 8.2% at its current rent, well above the gross rental yield for Seven Hills houses of 5%, 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.
The median house price in Seven Hills fell 1.7% in the past year but rose 21.4% in the past five years, according to RP Data.
<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 $7,000 and over five years to be $21,000.
The property will go to auction Saturday, July 14 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Seven Hills, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see pages 2 and 3.
<hr>
4/808 Humffray Street, Mount Pleasant, Vic 3350
<img width="470" src="/images/stories/2012/07/humffray.jpg">
In a boutique block of four, this two-bedroom villa unit in the Ballarat suburb of Mount Pleasant has been recently re-carpeted and repainted. It is currently tenanted until September for below-market rent, but listing agent Simon Lee of Ray White says it could be expected to fetch $195 per week. Lee says the tenants would be willing to move out before September. The property is close to public transport.
Lee<a href="https://www.raywhite.com/vic/mount-pleasant/803871/" target="_blank"> is marketing the property</a> with price hopes of $180,000 plus, and if it sells for $180,000 and is let at $195 per week, that would secure an investor a gross rental yield of 5.6%, above the indicative gross rental yield of 5.2% for Mount Pleasant houses, 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.
The median house price in Mount Pleasant rose 2% in the past year and 47.1% in tha past five years, according to RP Data.
<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 $3,000 and over five years to be $6,000.
The property will be open for inspection Saturday, July 14 at noon and will go to auction Saturday, July 21 at 1pm.
For more about prices and yields in <a target="_blank" href="/news">Mount Pleasant, see the RP Data suburb page.</a>
 
<hr class="system-pagebreak">
13b Nullaburra Road, Newport, NSW 2106
<img src="/images/stories/2012/07/nullaburra.jpg" width="470">
This four-bedroom duplex on 550 square metres of land is currently tenanted at $860 per week, and the rent is set to go up to $900 per week in the next few months. The current tenants are on a six-month lease that is due to expire around the end of the year. There are ocean glimpses from the second level, and the property includes a double garage and a low-maintenance backyard. Domain Residential agent Dushan Prica describes the property in its marketing as "a great investment opportunity for those heading towards the stock market exits!".<a href="https://www.raywhite.com/vic/mount-pleasant/803871/" target="_blank"></a>
Dushan Prica<a target="_blank" href="https://www.raywhite.com/vic/mount-pleasant/803871/"> is marketing the property</a> with price hopes of $949,000 plus, and if it sells for $949,000 that would secure an investor a gross rental yield of 4.7% at its current rent, above the indicative gross rental yield of 3.8% for Newport houses, according to RP Data. It would secure a gross rental yield of 4.96% at $900 per week. 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.
The median house price in Newport fell 3.2% in the past year but rose 7% in tha past five years, according to RP Data.
<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 $15,000 and over five years to be $48,000.
The property will be open for inspection Saturday, July 14 at noon and will go to auction Saturday, July 21 at 1pm.
For more about prices and yields in Newport, see the RP Data suburb page.
</body></html>

Friday form guide: Yields of up to 8.2% in Seven Hills

<html><body>
<img src="/images/stories/2012/07/85percent.gif">
The percentage of loans by collapsed fund management and mortgage lender Provident Capital that were six months or more in arrears.
 
<hr>
<a href="https://www.propertyobserver.com.au/developments/barangaroo-south-construction-set-to-begin-as-lend-lease-raises-%242-billion/2012070955478" target="_blank"><img src="/images/stories/2012/07/2b.gif"></a>
The <a href="https://www.propertyobserver.com.au/developments/barangaroo-south-construction-set-to-begin-as-lend-lease-raises-%242-billion/2012070955478" target="_blank">amount of money developer Lend Lease has raised towards the Barangaroo South redevelopment</a>. The funding forms part of a new commercial wholesale open-ended property trust, which Lend Lease will manage. “Now all we have to do is build it,” says Lend Lease CEO Steve McCann.
 
<hr>
<a href="https://www.propertyobserver.com.au/residential/oversupply-figures-paint-distorted-housing-picture-of-outer-melbourne-suburb-of-clyde-amid-melbournes-55000-listings/2012070955476" target="_blank"><img src="/images/stories/2012/07/316percent.gif"></a>
The<a href="https://www.propertyobserver.com.au/residential/oversupply-figures-paint-distorted-housing-picture-of-outer-melbourne-suburb-of-clyde-amid-melbournes-55000-listings/2012070955476" target="_blank"> increase in the number of residential listings in postcode 3978 </a>(Clyde, Clyde North and Cardinia) in the year to June, according to figures compiled by SQM Research. However, Clyde is not the epicentre of a so-called oversupply of houses in the city’s outer suburbs, but instead the result of new housing projects coming to market at the same time in what was farmland just two years ago.
 
<hr>
<img src="/images/stories/2012/07/995.gif">
The asking rent for Katrina and Amie's The Block 2011 renovated Richmond cottage, which hit the rental market this week. Its asking rental reflects around 4.7% rental growth over the past year.
 
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/07/25m.gif"></a>
The <a target="_blank" href="/news">approximate price hopes for the site for a proposed sister skyscraper to the post-modern Eureka Tower</a>, which was listed for sale. The proposed 226-metre, 72-storey tower is designed by Nonda Katsalidis, and the 2,642-square-metre site at 70 Southbank Boulevard is directly across the road from the Eureka Tower.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/parliaments-youngest-federal-mp-wyatt-roy-now-a-22-year-old-home-owner-as-on-the-beach-bribie-island-prices-fall/2012071055509"><img src="/images/stories/2012/07/340k.gif"></a>
The amount <a target="_blank" href="https://www.propertyobserver.com.au/queensland/parliaments-youngest-federal-mp-wyatt-roy-now-a-22-year-old-home-owner-as-on-the-beach-bribie-island-prices-fall/2012071055509">Federal Parliament's youngest MP, Wyatt Roy, spent on his first home</a>, which he recently bought. The 22-year-old MP bought a unit in a Bribie Island, Queensland, complex where prices have been falling for the past eight years.
 
<hr>
<a target="_blank" href="/news"><img src="/images/stories/2012/07/120k.gif"></a>
The <a target="_blank" href="/news">asking price for an ivy-clad streetfront 18-square-metre Point Piper lock-up garage </a>in Sydney’s eastern suburbs. There are no body corporate fees or rates for the garage given it does not come with its own title. 
</body></html>

The 7 must-know numbers of the week, starting with the percentage of Provident Capitals loans in arrears

<html><body>
The percentage of first-home buyers purchasing off-the-plan units has increased since March this year, according to NAB's Residential Property Survey.
At the same time, the percentage of non-first-home owner-occupiers buying off the plan has decreased.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/nabjuly125.gif"><img src="/images/stories/2012/07/nabjuly125thumb.gif"></a>
</body></html>

More first-home buyers purchasing new properties: NAB June Residential Property Survey

<html><body>
An imitation Gothic castle in Paradise Point that sold for $5,325,000 at auction was this week’s top reported sale, according to RP Data.
With seven bedrooms and nine bathrooms, <a href="https://www.propertyobserver.com.au/queensland/imitation-gothic-castle-on-sovereign-islands-loses-its-crown-at-auction-as-buyers-have-less-kingly-inclinations/2012070455420">the Paradise Point property</a> had a $20 million tag when it first listed in 2010.
It was finished in 2009 on a 1,458-square-metre block bought for $3.75 million in 2007.
This week’s second place spot was taken by a five-bedroom house in the Sydney suburb of Burwood, which sold for $3.02 million at its Saturday auction.
{yoogallery src=[images/stories/2012/07/july11burwood]}
This was $520,000 above the reserve, according to Richard Matthews Agent Matthew Everingham.
The 2,340-square-metre property includes three bathrooms, leadlight detail, high ceilings and a tennis court.
No Victorian properties made the top 10 list this week, with seven of the top 10 in NSW and the rest in Queensland. 
1. <a href="https://www.myrp.com.au/n/55-knightsbridge-parade-west-paradise-point-qld-4216/myrp-490?propertyId=6753124">55 Knightsbridge Parade West, Paradise Point, QLD, 4216</a>, seven-bedroom house, sold at auction on June 3 by Ray White The Runaway Bay Group for $5.325,000
2. <a href="https://www.myrp.com.au/n/8-minna-street-burwood-nsw-2134/myrp-490?propertyId=1653802">8 Minna Street, Burwood, NSW, 2134</a>, five-bedroom house, sold at auction on June 7 by Richard Matthews Real Estate for $3.02 million
3. <a href="https://www.myrp.com.au/n/66-evans-street-rozelle-nsw-2039/myrp-490?propertyId=5982687">66 Evans Street, Rozelle, NSW, 2039</a>, five-bedroom house, sold at auction on June 7 by Belle Property Annandale for $2.4 million
4. <a href="https://www.myrp.com.au/n/58-milroy-avenue-kensington-nsw-2033/myrp-490?propertyId=3291870">58 Milroy Avenue, Kensington, NSW, 4670</a>, six-bedroom house, sold after auction on June 7 by Ray White Maroubra for $1.92 million
5. <a href="https://www.myrp.com.au/n/47-phillip-road-putney-nsw-2112/myrp-490?propertyId=5635153">47 Phillip Road, Putney, NSW, 2112</a>, four-bedroom house, sold at auction on June 7 by McGrath Estate Agents for $1.91 million
6. 90 Little Chester Street, Newstead, QLD, 2360, three-bedroom house, sold at auction on June 7 by Ray White New Farm for $1.9 million
7. <a href="https://www.myrp.com.au/n/32-heeley-street-paddington-nsw-2021/myrp-490?propertyId=5268768">32 Heeley Street, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on June 3 by Bradfield Cleary Real Estate for $1.84 million
8. <a href="https://www.myrp.com.au/n/20-radio-avenue-balgowlah-heights-nsw-2093/myrp-490?propertyId=1231236">20 Radio Avenue, Balgowlah Heights, NSW, 2093</a>, four-bedroom house, sold on June 6 by Richardson &amp; Wrench Seaforth for $1.805 million
9. <a href="https://www.myrp.com.au/n/16-snowbell-close-stretton-qld-4116/myrp-490?propertyId=14183033">16 Snowbell Close, Stretton, QLD, 4116</a>, five-bedroom house, sold at auction on June 7 by L J Hooker Sunnybank Hills for $1.8 million
10. <a href="https://www.myrp.com.au/n/18-darvall-road-eastwood-nsw-2122/myrp-490?propertyId=2206597">18 Darvall Road, Eastwood, NSW, 2122</a>, five-bedroom house, sold at auction on June 7 by McGrath Estate Agents for $1.75 million
</body></html>

Paradise Point castle takes out top sale of the week, with five-bedroom Burwood property next at $3.02 million: RP Data

<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

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Cassidy Knowlton

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News