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 17 Rimula Road, Corio, Victoria, 3214
<img width="470" src="/images/stories/rimula.jpg">
This four-bedroom Corio house includes a garden shed and a double garage and is on an 840-square-metre corner block. The tenants are on a month-to-month lease but have lived in the property for seven years and are keen to stay on. The current rent is $280 per week, and although listing agent Bob Bartulovic of CJ Keane &amp; Co says the property could possibly rent for $300 per week, having tenants of such good quality makes it worth accepting a slightly below-market rent.
<a target="_blank" href="https://www.cjkeane.com.au/index.cfm?pagecall=property&amp;propertyID=2038736">Bartulovic  is marketing the property</a> with price hopes of $230,000 plus, and if it sells for $230,000 and is rented at $280 per week, that would secure an investor a gross rental yield of 6.3%, above the gross indicative yield of 5.8% for Corio 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.
<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 $4,000 and over five years to be $8,000.
The median house price in Corio was unchanged in the past year, according to RP Data.
The property will be open for inspection Saturday, May 19 at noon and will go to auction Saturday, June 9 at noon.
For more about prices and yields in <a target="_blank" href="/news">Corio, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see page 2.
 
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13/54 Amy Street, Regents Park, NSW, 2143
<img src="/images/stories/amy.jpg">
On the top floor of a modern complex, this three-bedroom apartment is currently rented out for $410 per week. Although the tenants are on an expired lease, listing agent Sang Tat of Elders Real Estate says this is current market rent for the area and the tenants are keen to stay. The apartment includes a laundry and a balcony and is within walking distance of Regents Park Station, shops and schools.
Tat <a href="https://www.eldersrealestate.com.au/residential/buy/property-apartment-nsw-regents-park-496163" 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 gross rental yield of 6.1%, above the indicative gross rental yield of 5.8% for Regents Park units, 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 target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.
The property will be open for inspection Saturday, May 19 at noon and will go to auction Saturday, June 2 at 2.30pm.
For more about prices and yields in <a target="_blank" href="/news">Regents Park, see the RP Data suburb page</a>.
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Friday form guide: Yields of up to 6.3% in Corio

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The top four most expensive home sales this week were all over the $4 million mark, according to RP Data.
Views were no doubt a factor for the buyer of number-one property 76/3 Macquarie Street in Bennelong, this week’s most expensive sale. The three-bedroom 202-square-metre harbourfront has panoramic views across Sydney Harbour, including picture postcard vistas of the Opera House, city, Harbour Bridge and Botanic Gardens.
It was sold by Savills agent Anthony Flood in conjunction with The Barron &amp; Dowling Property Group Double Bay agent Kate Dowling.
The week’s top sales were roughly evenly split between New South Wales and Victoria, with NSW properties appearing on the list four times and Victoria represented five times. The ninth property was a stately Northern Territory five-bedroom home with views over Fannie Bay.
1. 76/3 MACQUARIE STREET, SYDNEY, NSW, 2000, three-bedroom unit, sold on May 9 by Savills Sydney for $4.9 million
2. 50 FELLOWS STREET, KEW, VIC, 3101, four-bedroom house, sold at auction on May 12 by Jellis Craig Real Estate Hawthorn for $4.4 million
3. 162 MONT ALBERT ROAD, CANTERBURY, VIC, 3126, four-bedroom house, sold at auction on May 12 by Kay &amp; Burton Real Estate Hawthorn for $4,166,000
4. 6 FITZGERALD STREET, BALWYN, VIC, 3103, four-bedroom house, sold at auction on May 12 by Jellis Craig Real Estate Hawthorn for $4,025,000
5. 4/44 MONA ROAD, DARLING POINT, NSW, 2027, three-bedroom unit, sold at auction by 1st City Hasemer + Caldwell Eyles for $3.7 million
6. 15A WOLLOMBI ROAD, NORTHBRIDGE, NSW, 2063, four-bedroom house, sold on May 9 by Birch Lang and Company Surry Hills for $2.7 million
7. 17 NORTH TERRACE, CLIFTON HILL, VIC, 3068, three-bedroom house, sold at auction on May 12 by Jellis Craig Real Estate Clifton Hill for $2.52 million
8. 66 HUNTER STREET, STRATHFIELD, NSW, 2135, five-bedroom house, sold at auction by George Ellis &amp; Co Real Estate for $2.35 million
9. 74 EAST POINT ROAD, FANNIE BAY, NT, 0820, five-bedroom house, sold at auction on May 12 by Colliers International Darwin for $2.25 million
10. 367 DANKS STREET, MIDDLE PARK, VIC, 3206, five-bedroom house, sold at auction on May 13 by Greg Hocking Real Estate for $2.25 million
 
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Four of top 10 sales of the week above $4 million: RP Data

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A Melbourne property that would suit downsizers drew a lot of interest, but few bidders, at its weekend auction.
There's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/" style="font-size: 14px; text-align: left;">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
As expected a lot of grey heads greeted the auctioneer at 2/1 Mountain Grove, Kew (<a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-auction-tipping/2012051054648">featured on Property Observer on Friday</a>), as a huge crowd of downsizers look on with interest. But as is becoming all too common a big crowd did not mean lots of bidders as only two buyers contested the auction.
<img src="/images/stories/mountaingrove.jpg">
Luckily for the vendor it only takes two to make an auction as the property (pictured above) eventually sold for $1.23 million, just slightly above the agent's anticipated selling range.
<img src="/images/stories/holkham.jpg">
Good interest leading up to the auction of 9/8 Holkham Avenue, Randwick (<a target="_blank" href="https://www.propertyobserver.com.au/auctions/sydney-auction-tipping/2012051054649">also featured on Property Observer on Friday</a>) failed to extract a bid that was acceptable to the vendor after the auction had finished. The property (pictured above) passed in for $707,000 before the highest bidder went inside to nut out a deal that made the vendor happy.
When the dust settled a sold sticker did appear on the board, but maybe the price was not exactly what the vendors wanted as they requested the price not be disclosed.
Agent Charles Stevens can tell us the price was in excess of $720,000.
 
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A big crowd doesn’t mean many bidders for auction tipping competition properties 

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Lend Lease has sold about 70% of its flagship Docklands development Convesso Concavo, with more than two-thirds of sales occurring in the past six months after the second tower launched.
Convesso Concavo, the developer's flagship luxury complex, will comprise 455 apartments across two towers, with 220 one-, two- and three-bedroom units in Convesso. There are another 235 in Concavo. The developer has sold about 320 units across both buildings thus far, with sales more heavily weighted in Convesso. Convesso launched in late 2010, and Concavo apartments came onto the market in October 2011. 
<img src="/images/stories/convesso2.jpg">
The developer <a target="_blank" href="https://www.propertyobserver.com.au/developments/lend-lease-sells-over-100-units-in-convesso-concavo-docklands-development-in-a-month/2011120552677">had sold just over 100 of the apartments in Convesso Concavo in November last year</a>. 
Prices start from $465,000 for a one-bedroom apartment to more than $5 million for the three-bedroom penthouses in Convesso. In Concavo, prices range from $495,000 to more than $3 million. 
<img src="/images/stories/convessoflicker.jpg">
The development has been designed by architectural firm Bates Smart, and its curved, glass-filled exterior is meant to be “an expression of the reflections of light on the water that lies before them,” according to the marketing brochure.
<img src="/images/stories/convesso3.jpg">
Many of the units have interactive displays that allow the inhabitants to monitor their electricity consumption, communicate with other residents in the building and climate control every room of their homes.
The more expensive units have car parks directly outside their doors, making them feel less like apartments and more like houses. 
The complex is expected to achieve a seven-star NABERS rating and is billed as "Australia's most sustainable luxury residential towers".
<img src="/images/stories/convesso4.jpg">
“Despite the sustainability credentials, Convesso apartments are not necessarily more expensive than similar apartments in the Docklands, they are still market competitive,” says architect Kevin Masci of Bates Smart.
<img src="/images/stories/convesso6.jpg" style="font-size: 14px; text-align: left;">
“At the moment buyers embrace green-star features, providing it’s at a reasonable cost, but in time green-star residential buildings will be recognised as the new state-of-the-art.”
The buildings will include amenities such as 24-hour concierge, a 25-metre lap pool, gymnasium, spa, sauna, deck areas with barbecues, residents’ lounge, cinema and business centre.
<img src="/images/stories/convesso7.jpg">
Convesso is currently under construction and is expected to be finished later this year. Construction on Concavo is expected to begin at the end of July or early August this year and is set to be completed in mid-2014.
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Sales ramp up for Lend Lease Docklands project Convesso Concavo

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<a href="https://www.propertyobserver.com.au/new-south-wales/ron-medich-seeks-%2440-million-plus-for-harbourfront-point-piper-home/2012050754580" target="_blank"><img src="/images/stories/40mpluys.gif"></a>
The price hopes <a href="https://www.propertyobserver.com.au/new-south-wales/ron-medich-seeks-%2440-million-plus-for-harbourfront-point-piper-home/2012050754580" target="_blank">Ron Medich has for his Point Piper harbourfront home</a>, which has now been officially listed for sale. The harbourfront property had previously been quietly listed for sale, having never been publicly marketed in print or internet.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/news/ofarrell-government-backtracks-on-50-of-sydneys-future-housing-growth-in-urban-fringe/2012050454557"> <img src="/images/stories/70percent.gif"></a>
The percentage of new homes built in Sydney over the next four years<a target="_blank" href="https://www.propertyobserver.com.au/news/ofarrell-government-backtracks-on-50-of-sydneys-future-housing-growth-in-urban-fringe/2012050454557"> that will be in existing areas</a>, according to the NSW government's new Metropolitan Strategy discussion paper.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/manly-sea-eagles-co-captain-jamie-lyon-selling-newport-nest-title-tattle/2012050654571"><img src="/images/stories/1point15mplus.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/manly-sea-eagles-co-captain-jamie-lyon-selling-newport-nest-title-tattle/2012050654571">price hopes for the Newport home of Manly Sea Eagles co-captain Jamie Lyon</a>. Jamie and wife Ellie are off to Warriewood, where they are building a new home.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/house-prices-fell-in-all-melbourne-regions-in-past-year-with-essendon-the-worst-performer-residex/2012050754581"><img src="/images/stories/minus8point75.gif"></a>
The house price growth in the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/house-prices-fell-in-all-melbourne-regions-in-past-year-with-essendon-the-worst-performer-residex/2012050754581">Melbourne suburb of Essendon </a>over the 12 months to March 2012, according to the Residex. Every Melbourne region had negative house price growth during the past year, with Essendon prices declining the most.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/economy/federal-budget2012-tax-breaks-for-green-buildings-dumped/2012050854605"><img src="/images/stories/405m.gif"></a>
The amount of money the federal government will save in the next four years by <a target="_blank" href="https://www.propertyobserver.com.au/economy/federal-budget2012-tax-breaks-for-green-buildings-dumped/2012050854605">axing green buildings tax breaks </a>in the federal budget. The scheme had never come into effect, being shut down before it began.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/donna-hays-paddington-terrace-off-the-burner-as-buyer-takes-a-%2423-million-bite-title-tattle/2012050854619"><img src="/images/stories/2point3m.gif"></a>
The approximate sale price celebrity cook <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/donna-hays-paddington-terrace-off-the-burner-as-buyer-takes-a-%2423-million-bite-title-tattle/2012050854619">Donna Hay secured</a> for her Paddington investment terrace. It was extensively renovated after being bought as an investment for $1.42 million in 2003.
 
<hr>
<a href="https://www.propertyobserver.com.au/residential/court-overturns-%241000-sheriff-sale-of-braybrook-home-valued-at-%24630000/2012050954635" target="_blank"><img src="/images/stories/630k.gif"></a>
The estimated value of a <a href="https://www.propertyobserver.com.au/residential/court-overturns-%241000-sheriff-sale-of-braybrook-home-valued-at-%24630000/2012050954635" target="_blank">six-bedroom Braybrook home that was sold in a no-reserve sheriff's auction for $1,000</a>. The sale was overturned by Victorian Supreme Court this week.
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The 7 must-know numbers of the week, starting with Ron Medich's price hopes for Point Piper harbourfront

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There were 823 sales in Perth this week, up 40% from the same week last year and up 6% from the 774 sales last week, according to the Real Estate Institute of Western Australia.
<img src="/images/stories/reiwamay11.gif">
 
 
 
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Perth sales up 40% on the same week last year: REIWA

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27 Grace Street, Cabramatta, NSW, 2166
<img src="/images/stories/graceave.jpg">
In the popular Sydney suburb of Cabramatta, this three-bedroom house is on 658 square metres and is close to Cabramatta high school. The $400 a week lease will have expired by the time the property goes to auction, but LJ Hooker agent Patrick Yeung says the tenant is keen to stay on and that $400 per week is market rent for the area. 
Yeung<a href="https://www.ljhooker.com.au/442F8S" target="_blank"> is marketing the property</a> with price hopes of $380,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.5%, well above the indicative gross rental yield of 4.1% for Cabramatta 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.
Yeung recently sold a nearby property for $435,000 that was in much worse condition but in a better location than the Grace Street property. The tenants in that house paid $330 per week. The median asking rent for Cabramatta houses is $380 per week. 
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000.
The property will be open for inspection Saturday, May 12 at 11.15am and will go to auction Saturday, June 2 at noon.
For more about prices and yields in Cabramatta, see the RP Data suburb page.
 
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 4 Howe Court, Thomastown, VIC, 3074
<img src="/images/stories/howest.jpg">
This property is currently vacant but has been recently tentanted at $300 per week, which Ray White agent Joe Torzillo says is at the market rent for the property. It has three bedrooms and is close to shops, schools, transport and the Western Ring Road. The 26-year-old house is on 602 square metres.
Torzillo<a target="_blank" href="https://www.raywhite.com/vic/thomastown/771925/"> is marketing the property</a> with price hopes of $360,000 plus, and if it sells for $360,000 and is rented at $300 per week, that would secure an investor a gross rental yield of 4.3%. This is about at the indicative gross rental yield for Thomastown 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. Council fees are about $1,000 per annum.
<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 $6,000 and over five years to be $13,000.
The median house price in Thomastown fell by 4.2% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 12 at 10am and will go to auction Saturday, May 19 at 3pm.
For more about prices and yields in <a target="_blank" href="/news">Thomastown, see the RP Data suburb page.</a>
 
 
 
 
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Friday form guide: Yields of up to 5.5% in Cabramatta

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Vendor discounting levels for houses in some cities have increased over the year but there have been slight reprieves for sellers in recent months, according to a new report by RP Data.
Across Australia vendor discounting is now at -7.2% for houses and -6.1% for units.
The resource boom cities of Darwin and Perth were the only capitals where the average discount necessary to secure a sale for houses was lower in March 2012 than in March 2011.
Average discount levels for units went up in four capital cities (Melbourne, Adelaide, Hobart and Canberra) over the year, remained unchanged in Sydney and went down in the rest.
Click to enlarge
<img src="/images/stories/rpmay112thumb.gif">
Houses are taking longer to sell in most capitals than they were last year. The average time on market has decreased in Brisbane, Perth and Darwin compared with the same time last year but has increased in all other capitals.
Click to enlarge
<img src="/images/stories/rpmay114thumb.gif">
“The improvement in vendor metrics in Brisbane, Darwin and Perth and the weakening conditions in Melbourne is a reflection of the overall market conditions highlighted by the amount of stock currently available for sale across these cities,” says RP Data senior analyst Cameron Kusher.
Click to enlarge
<img src="/images/stories/rpmay111thumb.gif">
Kusher notes that the increased time properties are lingering on the market is an indication of increased volumes.
“The elevation in the volume of stock available for sale certainly reflects a lower level of demand for housing credit,” Kusher says.
Click to enlarge
<img src="/images/stories/rpmay112thumb.gif">
Recent figures from Australian Property Monitors, which include both units and houses, show that <a href="https://www.propertyobserver.com.au/residential/sunnier-property-market-outlook-across-australia-as-vendor-discounting-peaked-in-mid-2011-apm/2012051054637">the average discount required to secure a sale</a> has increased in Sydney, Melbourne, Adelaide, Canberra and Darwin.
APM’s data also shows that the level of discounting peaked in mid- to late 2011, and that the lowest level of discounting required to secure a sale for the past year was in early 2012, for the most part. APM notes that the average discount has increased in recent months in most capitals.
APM data also notes that the number of days property is lingering on the market <a href="https://www.propertyobserver.com.au/residential/sunny-days-of-quick-sales-long-behind-in-most-capitals-as-property-stock-lingers-on-the-market-apm/2012050854592">has increased in most capitals</a> compared with this time last year.
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Vendors somewhat stubborn as time on market increases in most capitals: RP Data

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Vendors no longer have to offer as deep discounts as last year to secure sales of their properties, new data released by Australian Property Monitors reveals.
The amount of discounting required peaked in winter and/or spring in mid- to late 2011, according to APM, with the most discounting required between June and November last year in all capitals.
In Sydney, Brisbane, Perth, Darwin and Hobart discounting has reached its lowest level in a year in early 2012, according to APM researcher Clinton McNabb. However, there has been a slight rise in required discounting in all but two capitals – Melbourne and Canberra. 
Melbourne, Adelaide and Canberra vendors now offer less of a discount than they did in mid-2011, but more of a price reduction than in April last year. 
Brisbane vendors have consistently had to offer the deepest discounts to secure sales, except for in July last year, when Perth vendors offered discounts of 10.4%, compared with Brisbane's 10.3%. 
Click to enlarge
<a href="/images/stories/apmmay10.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/apmmay10thumb.gif"></a>
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Sunnier property market outlook across Australia as vendor discounting peaked in mid-2011: APM

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The government announced in the budget that it would not be proceeding with a tax break for energy-efficiency upgrades of commercial buildings – a loss of $405.2 million over forward estimates and $1 billion over the life of the program.
This program would have enabled businesses that upgraded buildings from two stars to four stars or higher a bonus tax deduction of 50% of the cost of the eligible assets or capital works.  The government argues that the institution of the carbon price, support available from Low Carbon Australia and also potentially the Clean Energy Finance Corporation (CEFC) makes this program redundant.
This program was always a relatively clunky way of incentivising upgrades in energy efficiency of existing buildings, that would be far better dealt with through an energy efficiency credit trading scheme. However it is the only meaningful program for driving upgrades in the energy efficiency of existing commercial buildings. Unlike new buildings, the far more numerous stock of existing commercial buildings were never subject to any form of minimum energy efficiency standards. Therefore upgrading their energy efficiency represents a large opportunity for cost-effective abatement.
Low Carbon Australia and the CEFC are not really equivalent replacements. Low Carbon Australia’s funding falls well short of a billion dollars. Also the CEFC is an unknown quantity and could represent an administratively onerous and inconsistent model for incentivising energy efficiency. Plus the carbon price impact on electricity prices will not overcome split incentive problems in the sector.
Hence the displeasure of the CEO of the Energy Efficiency Council, Rob Murray-Leach who said: “The government justified this budget cut by saying that the Tax Breaks would have been a more expensive way of cutting emissions than the carbon tax. This is absolute rubbish. This program would have helped building owners save energy and save money, which means that it would have lowered the cost of meeting Australia’s greenhouse gas targets.”
Murray-Leach continued noting that: “The government knew they were going to introduce a carbon price last year, but they didn’t cut the tax break for green buildings in May 2011. This cut is nothing to do with a carbon price, and all about the government saving money at the expense of business”.
To drive rapid improvement in the energy efficiency of Australia’s building stock requires a straightforward, transparent, rules-based qualification model; rather than reliance on project by project selection processes that rely strongly on the individual judgement of program administrators. The loss of the tax break is a backward step in this regard, and disappointing for the energy-efficiency sector.
Hopefully the property sector will now come to their senses and get behind a National Energy Savings Initiative instead of lobbying for tax breaks.
This article originally appeared on <a target="_blank" href="https://www.climatespectator.com.au/">Climate Spectator.</a>
 
 
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Federal budget 2012: Tax break of $1 billion for green building over before it began

<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.

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[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.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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

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