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There were 896 sales in Perth this week, up 8% from the 822 last week and up 39% from the same weekend last year, according to the Real Estate Institute of Western Australia.
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Perth sales up 39% on same week last year: REIWA

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The percentage of Melbourne suburbs with a median house price of under $300,000, according to RP Data. This is the second-lowest percentage in Australia; Canberra doesn't have a single suburb with a median house price under $300,000.
 
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The percentage of Perth suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Sydney suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Darwin suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Adelaide suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Brisbane suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of Hobart suburbs with a median house price of under $300,000, according to RP Data.
 
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The percentage of all capital suburbs with a median house price of under $300,000, according to RP Data.
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The number of suburbs in each capital city with median house prices under $300,000: RP Data

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The RBA has released a chart showing the 15 regions with the highest rates of mortgage arrears. Of the 15, six are in Queensland, and six in New South Wales.
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The RBA report also shows that <a href="https://www.propertyobserver.com.au/residential/households-continuing-to-deleverage-as-house-prices-fall-rba/2012032854046" target="_blank">households are deleveraging as housing prices fall</a>.
 
 
 
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Ipswich City, SW Sydney and Gold Coast lead list of 15 regions with highest mortgage arrears rates: RBA

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The property at 121 Treasure Island Avenue, Karragarra Island, tops SQM Research's list of the most discounted properties in Queensland. Its neighbour 700 metres down the road, 60 Treasure Island Avenue, still appears on realestate.com.au for sale but does not appear on SQM's list.
"At the moment there are a number of forces out there which could have either a positive or negative influence on the Queensland property market," says SQM director Louis Christopher.
"They include factors such as the recent change of government (which could have a positive impact on the housing market) or issues such as the fact that there is still an elevated supply of real estate on the market, particularly in north Queensland and south-east Queensland, which has already had a negative impact on house prices and will most likely continue to unless stock levels decrease."
1
<a target="_blank" href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618">121 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a>
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 511
 
 
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009242341">102 Bancroft Terrace, Deception Bay, Queensland, 4508</a>
On the market since: September 26, 2011
Initial asking price: $645,000
Current asking price: $419,000
Reduction: 35%
Days on market: 175
 
 
3
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009417474" target="_blank">320 Redbank Plains Road, Bellbird Park, Queensland, 4300</a>
On the market since: December 19, 2011
Initial asking price: $1,499,000
Current asking price: $975,000
Reduction: 35%
Days on market: 91
 
4
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105609896">40 Courageous Court, Newport, Queensland, 4020</a> (pictured)
On the market since: March 29, 2003
Initial asking price: $1.75 million
Current asking price: $1.15 million
Reduction: 34%
Days on market: 1,084
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008986804">64 Beckwith Street, Ormiston, Queensland, 4160</a>
On the market since: May 15, 2011
Initial asking price: $779,000
Current asking price: $525,000
Reduction: 33%
Days on market: 308
 
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107475501">65 Brentford Road, Richlands, Queensland, 4077</a>
On the market since: June 18, 2011
Initial asking price: $525,000
Current asking price: $359,000
Reduction: 32%
Days on market: 273
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107603313" target="_blank">34 Seraya Court, Closeburn, Queensland, 4520</a>
On the market since: August 13, 2011
Initial asking price: $1,450,000
Current asking price: $995,000
Reduction: 31%
Days on market: 217
 
8
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106322479" target="_blank">1255 Gympie Road, Aspley, Queensland, 4034</a>
On the market since: February 20, 2010
Initial asking price: $510,000
Current asking price: $350,000
Reduction: 31%
Days on market: 756
 
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<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107227469" target="_blank">36 First Avenue, Beachmere, Queensland, 4510</a>
On the market since: March 5, 2011
Initial asking price: $450,000
Current asking price: $310,000
Days on market: 378
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106826848" target="_blank">226-228 West Mount Cotton Road, Cornubia, Queensland, 4130</a>
On the market since: October 2, 2010
Initial asking price: $1.2 million
Current asking price: $860,000
Reduction: 28%
Days on market: 532
 
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SQM Research also offers a list of the <a href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
 
 
 
 
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Treasure Island Avenue home heads list of most discounted properties in Queensland: SQM Research

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The RBA’s decision to cut interest rates in November and December last year had an immediate effect on the property market in Melbourne’s struggling eastern suburbs, says Jellis Craig.
Jellis Craig Mount Waverley directors Paul Polychroniadis and Con Lazogas have written in Jellis Craig’s Annual Property Review that another interest rate drop would help the suburbs in the Melbourne municipality of Monash further.
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<a rel="shadowbox" href="/images/stories/monashcomment1.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment1thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“The two consecutive interest rates drops in November and December 2011 had an immediate and positive impact on the local market, with the level of enquiry increasing measurably,” write Polychronidadis and Lazogas.
“We anticipate that any additional rate reductions will further stimulate the market. We have already witnessed larger numbers of viewers at our open for inspections.”
They say that families looking to upgrade are buoying the market in these areas thus far in 2012.
<a rel="shadowbox" href="/images/stories/monashcomment2.jpg" title="Click to enlarge"><img src="/images/stories/monashcomment2thumb.jpg"></a>
Source: <a target="_blank" href="https://www.jelliscraig.com.au/">Jellis Craig</a> Annual Property Review
“Whilst buyer enquiry has lifted across the board, it is most evident for houses in the $650,000 to $1.2 million range and townhouses in the range $500,000 to $800,000,” they say.
“Increased competition in the mortgage market will offer up attractive opportunities for buyers to finance in this range.”
This is in contrast to the end of last year, when buyer numbers were down and prices falling.
“We did see the number of bidders for each property down from the four or five parties from the previous year. This lack of competition kept prices subdued.”
 
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Further rate cuts would help property market in Monash in Melbourne’s eastern suburbs: Jellis Craig

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8/447 Sydney Road, Balgowlah, NSW, 2093
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/sydneyrd.jpg"> 
With tenants paying the "fantastic rent" of $550 per week, this two-bedroom apartment in the Sydney northern beaches suburb of Balgowlah could be a good prospect for investors, but it was passed in at its weekend auction. Ray White agent Mark Griffiths says although the tenants of two years are on an expired lease, their rent was reviewed recently and ithe tenants are paying considerably above average rent for the block. The median asking rent for Balgowlah units is $500 per week, according RP Data.
Griffiths <a href="https://www.raywhite.com/nsw/balgowlah/745945/" target="_blank">is marketing the property</a> with price hopes of $479,000 plus after it was passed in on a vendor bid of $460,000 at its weekend auction. Griffiths says he is negotiating with a potential buyer who put in a pre-auction bid of $460,000 as well as another buyer. If it sells for $479,000, that would secure an investor a gross rental yield of 6%, far higher than the indicative gross rental yield of 4.2% for Balgowlah 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 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 $8,000 and over five years to be $28,000.
The median unit price for Balgowlah fell by 12.5% in the past year, according to RP Data.
For more about prices and yields in Balgowlah, see the RP Data suburb page.
 
 
 
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Investor form guide wrap: No takers yet for yields of up to 6% in Balgowlah

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<img src="/images/stories/10989.gif">
The number of properties available to rent in Melbourne, which has a vacancy rate of 3%, according to SQM Research. This is down from 12,719 in January but up from 9,998 at this time last year.
 
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<img src="/images/stories/7972.gif">
The number of properties available to rent in Sydney, which has a vacancy rate of 1.5%, according to SQM Research. This is down from 8,456 in January but up from 6,894 at this time last year.
 
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The number of properties available to rent in Brisbane, which has a vacancy rate of 1.6%, according to SQM Research. This is down from 5,112 in January but up from 4,479 at this time last year.
 
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<img src="/images/stories/2219.gif">
The number of properties available to rent in Adelaide, which has a vacancy rate of 1.3%, according to SQM Research. This is down from 2,231 in January but up from 1,657 at this time last year.
 
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The number of properties available to rent in Perth, which has a vacancy rate of 0.6%, according to SQM Research. This is down from 1,084 in January and from 1,567 at this time last year.
 
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The number of properties available to rent in Hobart, which has a vacancy rate of 2.3%, according to SQM Research. This is up from 583 in January and from 266 at this time last year.
 
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The number of properties available to rent in Canberra, which has a vacancy rate of 0.7%, according to SQM Research. This is downfrom 382 in January and from 285 at this time last year.
 
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The number of properties available to rent in Darwin, which has a vacancy rate of 0.7%, accordign to SQM Research. This is down from 238 in January but up from 540 at this time last year.
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How much stock is available to rent in your capital city? A state-by-state analysis: SQM Research

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There's now a website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
Although the Brisbane auction market has been showing signs of life in recent weeks, this week all five properties featured on auction tipping competition Property Tycoon were passed in.
“The clear message coming from the Brisbane market is the auction system is not being used to sell property under the hammer but to flush out a buyer and negotiate afterwards,” says Mark Armstrong of Property Tycoon.
The Melbourne property in the competition featured on Property Observer last week, 14 Airlie Avenue, Prahran (pictured below) fared better.
<img src="/images/stories/airlie.jpg">
“A large crowd of around 100 turned out for the auction at 14 Airlie Avenue, Prahran, but although many parties had shown interest in the property only two were prepared to put up their hand when the auction started,” Armstrong says.
“One bidder was very strong and clearly wanted the property. It was passed in to him at $2.5 million and after a short negotiation it sold for $2.65 million.
<img src="/images/stories/wycombe.jpg">
But the Sydney unit at 1/95 Wycombe Road, Neutral Bay was passed in on a vendor bid of $1.55 million.
 
 
 
 
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Brisbane market struggles to maintain momentum, with all five Property Tycoon properties passed in

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Grammy award-winning singer Alicia Keys has listed the New York penthouse she bought two years ago from fellow Grammy winner Lenny Kravitz. 
Keys bought the Crosby Street penthouse for $12.75 million in February 2010 in her business manager's name, and <a target="_blank" href="https://www.propertyobserver.com.au/https://www.sothebyshomes.com/nyc/sales/0018037">she has now listed it for $17.95 million</a>. 
The American Woman singer probably wishes her luck – Kravitz tried to sell it off and on between 2002 and 2010, with price hopes vacillating between $12.5 million and $19.5 million. 
The five-bedroom, four-bathroom, four-powder room penthouse has 573 square metres of space, a butler's pantry, library/media room, wine cellar, spa and private terrace. Not surprisingly, the listing photos show a grand piano.
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Alicia Keys tries to flip Lenny Kravitz's former penthouse for a $5 million profit

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12/46 Kingsville Street, Kingsville, VIC, 3102
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/kingsville.jpg"> 
This one-bedroom ground-floor apartment is currently leased for $200 per week, and Barry Plant agent Peter Nichols says this is slightly under market rent. The tenants are on an expired lease, and Nichols says the property could probably rent for $220 per week. The property has parking onsite and is within walking distance of shops. 
Nichols <a target="_blank" href="https://www.barryplant.com.au/property.cfm?propertyID=1985566&amp;realestate=46_Kingsville_st_KINGSVILLE_VIC_3012&amp;menuItemID=41628">is marketing the property</a> with price hopes of $200,000 plus, and if it sells for $200,000 that would secure an investor a gross rental yield of 5.2% at its current rent or 5.7% if it were rented for $220 per week. Both are significantly higher than the indicative gross rental yield for Kingsville units of 4.2%, 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 median unit price in Kingsville went up by 2.5% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 24 at noon and will go to auction on Saturday, March 31 at 10.30am.
For more about prices and yields in Kingsville, see the <a target="_blank" href="/news">RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see page 2.
 
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104 Stella Street, Fairfield Heights, NSW, 2165
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/stellast.jpg"> 
The tenant in this three-bedroom house is paying $380 per week and is on an expired lease. Pretti Real Estate agent Stephen Jurinic says this is below market rent, and the property could be leased for between $400 and $420 per week. The house has timber floors, a timber kitchen and a detatched room that could make a good home office.
Jurinic is marketing the property with price hopes of $480,000 plus, and if it sells at that price it would secure an investor a gross rental yield of 4.2% at its current rent. If it were rented for $420 per week, that would secure a gross rental yield of 4.6%, below the indicative gross rental yield for Fairfield houses 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 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 $10,000 and over five years to be $28,000.
The median house price in Fairfield Heights rose by 7.2% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 24 at noon and will go to auction on Saturday, March 31 at 2pm.
For more about prices and yields in Fairfield Heights, see the RP Data suburb page.
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Friday form guide: Yields of up to 5.7% in Kingsville

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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[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.

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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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