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The top two highest priced properties sold this week were in Melbourne, according to RP Data.
A Malvern property of two blocks was the top sale of the week, with the combined properties costing $7,131,510. The property at 39 Mayfield Avenue alone sold for $4,865,000.
It comes with a five-bedroom cottage with a floodlit north/south tennis court in established gardens. There were the three bidders, according to James Buyer Advocates attendee Adam Woledge.
{yoogallery src=[images/stories/may9camberwell]}
The second highest sale of the week was 35 Broadway, Camberwell (pictured above), which was auctioned by Jellis Craig agent Alastair Craig. Caversham, a 1902 Federation house, was marketed by Steve Burke and Andrew Wilkie of Jellis Craig.
“A much-anticipated auction, this one as the property was a rare offering – an original home with fantastic bones on excellent land size and prized north-facing rear,” Melbourne buyers’ agent Mal James says.
James says there were six bidders at the hotly contested auction.
“There was a genuine buzz in the crowd – you could feel it – and many prominent local agents turned up to watch. Thankfully the rain stayed away and in front of around 100 people in the pretty front yard garden setting, auctioneer Alastair Craig was in his element and conducted an entertaining, spirited auction,” he says.
“The auction opened swiftly with a crowd bid of $2.7 million and was announced on the market not long after at $2,910,000. It didn't take too long for bidding to reach the $3 million mark and then limped along in a series of mixed bids to eventually slow down at around the $3.3 million mark. From there the auction limped along mainly in series of $1,000 bids until it was eventually bought by the original bidder at $3,425,000.”
The other top 10 properties comprised two more in Victoria, three in New South Wales, two in Queensland and one in WA.
1. 39 MAYFIELD AVENUE, MALVERN, VIC, 3144, five-bedroom house, sold at auction on May 5 by Kay &amp; Burton South Yarra for $7,131,510
2. 35 BROADWAY, CAMBERWELL, VIC, 3124, four-bedroom house, sold at auction on May 5 by Jellis Craig Real Estate Hawthorn for $3,425,000
3. 9A/5 THORNTON ST DARLING POINT, NSW, 2027, three-bedroom unit, sold at auction on May 2 by Raine &amp; Horne Double Bay for $2,901,000
4. 9 THE PROMONTORY, NOOSAVILLE, QUEENSLAND, 4566, three-bedroom house, sold on May 2 by Dowling &amp; Neylan Real Estate for $2.8 million
5. 53 THE PENINSULA, NOOSAVILLE, QUEENSLAND, 4566, four-bedroom house, sold on May 2 by Dowling &amp; Neylan Real Estate for $2.7 million
6. 38 SUSSEX STREET, BRIGHTON, VIC, 3186, four-bedroom house, sold before auction on May 5 by Hodges Brighton for $2,525,000
7. 81 STEWART STREET, PADDINGTON, NSW, 2021, three-bedroom house, sold at auction on May 5 by McGrath Estate Agents for $2,365,000
8. 51a WILLIAM STREET, BRIGHTON, VIC, 3186, three-bedroom house, sold at auction on May 3 by Buxton Brighton for $2.2 million
9. 34 BUNDOCK STREET, RANDWICK, NSW, 2031, five-bedroom house, sold at auction on May 5 by Laing + Simmons Kingsford for $2.2 million
10. 4 COLUMBA PLACE, PEPPERMINT GROVE, WA, 6011, five-bedroom house, sold at auction on May 5 by Acton Dalkeith for $2.15 million
 
 
 
 
 
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Pool-less Camberwell runs second to Malvern big splash top seller: RP Data

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According to the Australian Tax Office, 825,284 of the 1,10,922 property investors in Australia in the 2009-10 financial year made $80,000 or less per year.
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About 74% of property investors in 2009-10 made less than $80,000 a year: ATO

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Almost $20 million will be spent over four years to provide business and finance training to newly-qualified tradespeople in order to help them start their own businesses. 
The $19.4 million boost builds on the $3 billion invested over six years in last year’s budget, through the Building Australia’s Future Workforce package. 
Grants of up to $5,000 will be available for 500 people in 2012-13, and then 1,000 people each year from 2013-14. 
People can apply for a grant within two years of completing a trade-related apprenticeship. 
According to Minister for Skills, Chris Evans, the new funding will ensure more tradespeople – early on in their careers – get the skills they need to run their own businesses. 
“It will also allow those completing their apprenticeship to access funding to cover the cost of training to improve their business-related skills – something which can be critical to the success of small businesses,” Evans said in a statement. 
Meanwhile, the government is reining in its Australian Apprenticeship spending to encourage higher retention rates in non-National Skills Needs List occupations. 
It’s hoped this will increase the completion incentive for employers to commit to the training of apprentices. 
The government will discontinue the $1,500 standard employer commencement incentive payment for existing worker Australian Apprentices in non-National Skills Needs List occupations. 
However, it will increase the standard completion incentive by $500 to $3,000. 
The change recognises that employers do not face the same level of upfront cost or risk when starting an existing worker in an apprenticeship.
 It also increases the incentive for them to support those employees through to the completion of their training. 
The government will also move the standard commencement payment made to employers for all apprentices, from being paid three months after commencement to six months after commencement.
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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Federal budget 2012: Grants for young tradespeople to start their own businesses

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We were promised a Labor budget and we got one, at least Labor in its modern sense of a managerialist party that still faintly remembers the old nostrums of equity and opportunity that form what’s left of its core values. 
If we had a genuine budget process that didn’t involve systematic leaking of major initiatives, one suspects the reporting of this budget would be very different. Between aged care reform, the dental program, a start to a national disability insurance scheme and additional welfare (let’s call it what it is) for low-and middle-income earners, there’s plenty of “Labor” initiatives – although some credit will have to be shared with the Greens. Moreover, unlike big-ticket items like the carbon pricing package or the mining tax, one suspects the aged care reforms and the NDIS will be left intact by the Coalition. 
Despite all that, the budget is scheduled to be back in surplus, albeit virtually a rounding error, without too much pain except from high-income earners, the foreign aid lobby and business, which has seen its promised 1% tax cut vanish before its eyes. The surplus also comes at the cost of Labor’s credibility on personal tax reform, to the extent that anyone remembers the government’s insistent rhetoric about making life easier for taxpayers last year. 
Labor will also be hoping that no one notices that this year’s deficit has blown out yet again by another $7 billion, something else that has helped it get that magical black figure for next year. Some commentators keep talking about the size of the fiscal turnaround between this year and next, forgetting that in fact the two are closely related – Wayne Swan has been busy shifting payments into this year from next, knowing neither the media nor the electorate will pay much attention to it. 
But none of that – putting aside the static of brothel-visiting union officials and accused speakers – is likely to cut through for any sort of turnaround for Labor. It’s more of the same that we’ve got from the government ever since the financial crisis receded – steady, unspectacular, and in my view sound management in an environment where revenue is hard to come by and ministers in spending portfolios have to curb their ambitions. Labor is a prisoner of a mining boom that began, pre-GFC, as a vast tax machine, but has now turned into a vast investment machine, dedicated to expanding resources capacity at the expense of taxable profits. Meantime, more traditional sectors like manufacturing continue to struggle. The impacts on tax revenue will be felt for years to come. 
Labor hopes the extra money flowing to low- and middle-income earners is enough to assuage the electorate’s hostility to the carbon price and that broken promise. The party hopes it’s enough to turn angry, resentful voters into voters at least willing to listen to Labor’s story about how it’s managed the economy through a difficult period pretty well and why the Opposition is all over the place on fiscal policy and economic policy more broadly. The carbon compensation ultimately is the political compensation for years of poor communication by Labor. 
What Labor wouldn’t give for just one year of the conditions Peter Costello enjoyed before the financial crisis, where the main challenge each budget was to find new ways to spend extra revenue. But this is Labor’s economic lot; the party may well rue its luck, just as it rued its luck in entering office on the eve of a financial catastrophe, but you manage the economy you’re given. Swan has been a bland but responsible Treasurer, and history will ultimately offer a fairer judgment of his economic legacy than voters certainly will. But that will be of no comfort to Labor MPs facing a wipeout next time they go to the polls.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
 
 
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Federal budget 2012: Battler’s budget won’t do much for Labor but won’t hurt its legacy

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The Commonwealth Bank will cut up to 100 jobs in its Melbourne-based mortgage division.
The banking giant says it is making the changes due to weak demand.
“The Commonwealth Bank can confirm that it advised staff in its Melbourne mortgage services operations that it will be making a number of changes in its mortgage services operations as a result of constant improvement in our processes, fluctuating customer demands and the low industry growth in home loan volumes,” the bank said in a statement.
Some staff may be redeployed, but the restructure is expected to result in around 100 redundancies, the bank said in a statement.
The bank said the changes will include:
<ul>
<li>Opening a new mortgage services shopfront in Melbourne</li>
<li>Closing mortgage services processing in Melbourne at the end of the year</li>
<li>Increasing the number of roles in our Melbourne mortgage services call centre</li>
<li>Moving some processing services to our interstate centres</li>
</ul>
“While many people will be redeployed into other areas in the bank, there will be some roles (around 100) which will be made redundant.”
“Where there are redundancies we will provide appropriate counselling, support and outplacement services.  However, our priority remains to redeploy the majority of the staff who work in that centre and we have been successful in identifying alternative opportunities for many of our staff.”
The Commonwealth Bank has given a commitment to not move any Australian jobs offshore and will continue to retain all call centre and operations processing functions within Australia.
This article originally appeared on <a href="https://www.leadingcompany.com.au/" target="_blank">LeadingCompany</a>.
 
 
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Commonwealth Bank to cut up to 100 jobs in its Melbourne-based mortgage division

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It's no wonder Residex boss John Edwards is <a href="https://www.propertyobserver.com.au/residential/melbourne-housing-market-on-the-wrong-side-of-the-ledger-residex-boss-john-edwards/2012041954363" target="_blank">worried about Melbourne</a>. House prices have gone backwards throughout Melbourne for the year to March 2012, new Residex figures reveal.
Every Melbourne region had negative house price growth for the year ending March 2012, which is in stark contrast with the year to March 2011, when every Melbourne region had positive house price growth.
The greatest change was in the outer-northern Melbourne suburb of Meadow Heights, which went from recording 12.1% growth in the year to March 2011 to house price falls of 8.53% in the 12 months to March 2012. The median house prices in Meadow Heights is $459,500.
The next biggest disparity was in Essendon, which recorded house price growth of 11.53% in the year to March 2011, according to Residex. Over the year to March 2012 house prices fell 8.75% to $584,000.
House prices also fell in most Melbourne localities in the last month, with Brunswick (up 3.13%) the strongest performer. The median house price in Brunswick is $545,000. The worst falls were experienced in Essendon, where house prices fell 1.9% in the past month.
Essendon was also the worst performer in the past quarter, with house prices falling 4.98%. The strongest suburb in the past quarter was the inner-north suburb of Fitzroy, where house prices increased 1.09% to $618,000.
In the past decade house prices have grown more or less uniformly across Melbourne, with weakest-performing Essendon (house prices up 6.02%) not wildly divergent from best-performer Fitzroy (up 8.13%).
 
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House prices fell in all Melbourne regions in past year, with Essendon the worst performer: Residex

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There was a lot of interest – but not many bids – at an Elsternwick auction over the weekend.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">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.
The agents were right about the interest in 21 Hopetoun Street, Elsternwick (pictured below) as, due to the rain, a huge crowd crammed into the living room to watch the auction.
<img src="/images/stories/hopetoun.jpg">
Unfortunately for the owner this interest did not translate into bids as the property passed in on a solitary bid for $1.4 million. But one bidder really wanted the property, and after a short negotiation the buyer upped their bid by just over $140,000 as the property sold for $1.541 million.
The recent trend for many vendors in Sydney has been to try and sell prior to auction, as low clearance rates means taking a property all the way through to auction can be risky.
However the vendors at 22 Rawson Street, Epping (pictured below) knew they had strong interest in their property and on Saturday this interest converted into multiple bidders. After being quoted at $1.2 million plus, the property sold for $1,312,000.
<img src="/images/stories/rawson.jpg">
Only two rounds to go in the autumn season of Property Tycoon, and the competition is heating up.
 
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Interest doesn’t translate into bids for Elsternwick auction tipping competition property

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The amount of stock on the market declined in all capital cities in April compared with March, according to SQM Research. Of course, the month of April contained the Easter long weekend, Anzac Day and school holidays.

The biggest decrease in stock on market was in Sydney, which recorded a 12.1% decrease month on month. 

"It is becoming more evident that the number of real estate listings has reached its peak," says SQM managing director Louis Christopher.

But Christopher warns that just because stock levels have peaked, it does not mean that prices are rebounding.

“Now while stock levels maybe be peaking, that doesn’t mean prices have suddenly stopped falling," Christopher says.

"As the ABS data illustrates, house prices were falling in the March quarter and we think they are still falling as we speak. I’d like to see a sustained decline in stock levels before calling a real bottom in prices. But overall, the worst now is likely behind us with this current downturn.”
 
<img src="/images/stories/48430.gif">
The amount of stock currently on the market in Melbourne, according to SQM Research. This is down 4.7% from last month but up 11.2% from this time last year.
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<img src="/images/stories/31030.gif">
The amount of stock currently on the market in Sydney, according to SQM Research. This is down 12.8% from last month and down 8.2% from this time last year.
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<img src="/images/stories/27522.gif">
The amount of stock currently on the market in Brisbane, according to SQM Research. This is down 6.9% from last month and down 10.4% from this time last year.
 
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<img src="/images/stories/18785.gif">
The amount of stock currently on the market in Perth, according to SQM Research. This is down 5.5% from last month and down 14.1% from this time last year.
 
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<img src="/images/stories/17559.gif">
The amount of stock currently on the market in Adelaide, according to SQM Research. This is down 2.5% from last month but up 5.8% from this time last year.
 
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<img src="/images/stories/4584.gif">
The amount of stock currently on the market in Hobart, according to SQM Research. This is down 2% from last month but up 29.3% from this time last year.
 
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<img src="/images/stories/3611.gif">
The amount of stock currently on the market in Canberra, according to SQM Research. This is down 7.2% from last month but up 8.7% from this time last year.
 
<hr>
 
<img src="/images/stories/1234.gif">
The amount of stock currently on the market in Darwin, according to SQM Research. This is down 6.8% from last month and down 28.6% from this time last year.
 
 
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How much stock is on the market in your capital city? A state-by-state analysis: SQM

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G7, 199 Pyrmont Street, Pyrmont, NSW, 2009
<img src="/images/stories/pyrmont1.jpg">
The tenants of this two-bedroom Pyrmont apartment are paying $730 per week and are on a lease until September this year. Within the Casino Gardens building, the apartment includes an internatl laundry, and the building has a swimming pool and gym. It is within easy walking distance of Darling Harbour and the CBD.
Kho and Lee Property Group agent Sami Yildiz<a href="https://www.khoandlee.com.au/properties/557124/details" target="_blank"> is marketing the property</a> with price hopes in the "early $600,000s". If it sells for $600,000 that would secure an investor a gross rental yield of 6.3%, significantly above the indicative gross rental yield for Pyrmont units of 5.1, 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 $12,000 and over five years to be $42,000.
The median unit price in Pyrmont fell by 4.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 5 at noon and will go to auction Saturday, May 26 at 11.30am. 
For more about prices and yields in Pyrmont, see the RP Data suburb page.
 
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1 Harcourt Street, Blackburn North, VIC, 3130
<img src="/images/stories/harcourt1.jpg">
Although this property is in need of renovation, it is currently returning $310 per week, with a rent increase to $320 per week about to take effect. The tenants are on an expired lease but are keen to stay on. The block is 516 square metres and could be suitable for redevelopment. It is within easy walking distance of North Blackburn Square Shopping Centre, Blackburn High and Old Orchard Primary. It has excellent access to the freeway.
Noel Jones agent Tim Penhalluriack<a target="_blank" href="https://www.noeljones.com.au/property-details/3931451/"> is marketing the property</a> with price hopes of $420,000 plus. If it sells for $420,000 that would secure an investor a gross rental yield of 4%, above the indicative gross rental yield for Blackburn North houses of 3.2%, 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 asking rent for Blackburn North 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 $3,000 and over five years to be $5,000.
The median house price in Blackburn North fell by 6.7% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 5 at 10am and will go to auction Saturday, May 19 at 10am.
For more about prices and yields in <a target="_blank" href="/news">Blackburn North, see the RP Data suburb page.</a>
 
 
 
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Friday form guide: Yields of up to 6.3% in Pyrmont

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<img src="/images/stories/21.gif">
The number of consecutive  months house prices have fallen, according to the ABS. "The odds are that the rate of decline will accelerate in the next year," <a target="_blank" href="https://www.propertyobserver.com.au/residential/abs-figures-show-australia-s-housing-price-bubble-is-bursting-steve-keen/2012050254514">says economist Steve Keen</a>, who sees the ABS figures as a sign that Australia's housing bubble is bursting.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/overseas/nab-first-of-big-four-banks-to-cut-rates-with-032-percentage-point-cut/2012050254522"><img src="/images/stories/32.gif"></a>
The basis point cut that <a target="_blank" href="https://www.propertyobserver.com.au/overseas/nab-first-of-big-four-banks-to-cut-rates-with-032-percentage-point-cut/2012050254522">NAB will pass onto its mortgage customers</a> after the RBA cut the official cash rate by 50 basis points on Tuesday. NAB was the first of the big four to announce its rates decision.  “Decisions on lending rates are not taken lightly, but we are determined to provide our customers with certainty through our commitment to stay the lowest of the major banks for the rest of 2012," says the bank. NAB's new standard variable interest rate will be 6.99%.
<hr>
<img src="/images/stories/40.gif">
The basis point cut that the Commonwealth Bank, the second bank to move, will pass onto its customers after the RBA's 50-basis-point cut on Tuesday. The bank’s new standard variable rate is 7.01%.
 
<hr>
<a href="https://www.propertyobserver.com.au/land/free-wandin-valley-building-block-giveaway-to-prompt-pitt-town-buying-urgency/2012050154490" target="_blank"><img src="/images/stories/1in31.gif"></a>
The chances a buyer in a Pitt Town land release has of  <a href="https://www.propertyobserver.com.au/land/free-wandin-valley-building-block-giveaway-to-prompt-pitt-town-buying-urgency/2012050154490" target="_blank">winning back the outlay spent on a block of land</a> once all the blocks are sold. "People say they will buy, but there is no urgency,” says the developer, adding that the block prices had already been cut by $100,000 to $200,000.
 
<hr>
<a href="https://www.propertyobserver.com.au/news/interest-rates-to-fall-to-3.25-over-2012-shock-prediction-from-westpac-economist-bill-evans/2012050154508" target="_blank"><img src="/images/stories/3point25percent.gif"></a>
Westpac chief economist Bill Evans' prediction of where the cash rate will sit by the end of the year. <a href="https://www.propertyobserver.com.au/news/interest-rates-to-fall-to-3.25-over-2012-shock-prediction-from-westpac-economist-bill-evans/2012050154508" target="_blank">Evans predicts two more rate cuts this year</a>, saying the first will happen in August.
 
<hr>
<a href="https://www.propertyobserver.com.au/new-south-wales/john-mcgrath-sells-duffys-forest-weekender-at-a-loss/2012050254515" target="_blank"><img src="/images/stories/4point05m.gif"></a>
The price McGrath boss <a href="https://www.propertyobserver.com.au/new-south-wales/john-mcgrath-sells-duffys-forest-weekender-at-a-loss/2012050254515" target="_blank">John McGrath secured for his Duffys Forest weekender</a>. He bought it for $4.7 million in April last year.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/not-quite-a-photo-finish-for-sean-izzards-stanwell-park-sale-title-tattle/2012050254513"><img src="/images/stories/1point15m.gif"></a>
The sale price for photographer <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/not-quite-a-photo-finish-for-sean-izzards-stanwell-park-sale-title-tattle/2012050254513">Sean Izzard's Stanwell Park property</a>. It was initially listed with $1.3 million hopes, which were revised to $1.2 million before its March auction.
 
 
 
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The 7 must-know numbers of the week, starting with Steve Keen's harbinger of the housing bubble bursting

<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.

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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.

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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.

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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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[smartcode_project_cta:default project_id=152737]

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Cassidy Knowlton

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