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A representative from the Real Estate Institute of Australia (REIA) recently spoke before the Parliamentary Joint Committee Inquiry into the Financial Services Industry and highlighted a number of concerns for real estate agents and consumers in the SMSF space.
REIA chief executive officer Amanda Lynch, in the latest issue of the REIA’s newsletter, touched on these issues in further detail.
“Our involvement with this inquiry was at the request of the committee, although the REIA has been pro-actively working to address community and industry concerns about the blurring lines between real estate agents and the provision of financial advice,” explained Lynch.
It seems that one of the major concerns is the blurring of the line between the role of a real estate agent and the role of an SMSF financial planning adviser.
This concern is not just strictly related to real estate agents. Just recently, Park Trent Properties, who run seminars and education programs for property investors and promote property, <a href="/guides/asic-commences-proceedings-against-property-promoter-park-trent-properties">have been targeted by ASIC for their SMSF promotions</a>. ASIC explains that they are effectively carrying on an unlicensed financial services business.
Lynch contests that there is an issue, but that it’s limited within the real estate agent profession.
“While we recognise that for the most part, few if any, real estate agents are involved in the promotion of SMSFs, some of our members report that there is an increasing demand from accountants who managed SMSFs on behalf of trustees as well as vertically integrated organisations that approach agents seeking suitable properties,” she said.
She explains that the vast majority of real estate agents do not make estimates on rental returns or capital gain on properties.
However, those that do were noted to utilise statistics publicly available through the ABS, Bendigo and Adelaide Banks and the REIA’s own Real Estate Market Facts and Housing Affordability Report.
“Importantly, no payment is sought for this advice as it forms a basic part of being a real estate agent,” she said.
Lynch also recognised that there are “clusters of agents in certain areas with the dual role of also being a financial planner”.
Currently, a deterrent to this is the high cost of personal indemnity insurance to offer financial advice.
Instead, she also warned that financial advisers are approaching the real estate industry themselves – and not in the most scrupulous way possible. Her warning is towards those who use fast-track course methods to obtain qualifications to become a real estate agent.
They require no exams, are completely solely online and have a “very suspicious 100% success rate” she warns.
The REIA is seeking the de-registration of courses that offer a no course, no examination full success rate.
“These courses are not at all regarded by established real estate agents,” she said.
SMSF trustees have previously <a href="/guides/smsf-trustees-warned-not-to-take-financial-advice-from-real-estate-agents">been warned not to take advice from real estate agents</a> by ASIC commissioner Greg Tanzer.
“ASIC is aware that there has been a sharp rise in promoters recommending that investors either set up or use an existing SMSF to invest in property,” Tanzer said.
“These promoters may not be complying with the law.”
In response to these statements earlier this year, Graeme Colley, director of technical and professional standards at the SMSF Professionals’ Association of Australia, said that real estate agents might not actually know that providing this advice without a licence is illegal.
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jduke-EHk3XBmHkn

The blurring line between real estate agents and SMSF advice

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A surge in tax depreciation schedules requested in a number of regional areas has been noted by tax depreciation company BMT’s managing director Brad Beer.
Beer said that rural and regional locations appear to have attracted strong investment activity over the past financial year.
But where have they been targeting?
<ul>
<li>Port Pirie<a href="/news"></a>, South Australia</li>
</ul>
Topping the list is Port Pirie, where a 169% increase in the number of tax depreciation scheduled was recorded.
<ul>
<li>Riverland, South Australia</li>
</ul>
The wine region recorded a 141% surge in requests for depreciation schedules.
<ul>
<li>New England, New South Wales</li>
</ul>
This area recorded an 89% uptick in schedules requested.
<ul>
<li>Logan City, Queensland</li>
</ul>
This city, a strong investor favourite, recorded a 66% increase, compared to greater Queensland’s 19% uptick.
<ul>
<li>Nowra, New South Wales</li>
</ul>
A 64% increases was achieved by this south coast area.
<ul>
<li>Oven region, Victoria</li>
</ul>
A 58% surge was noted for the Oven region.
<ul>
<li>North-east Tasmania</li>
</ul>
A 46% surge was seen in the north-east of Tasmania, despite greater Tasmania recording no increase.
Interestingly, these increases in individual regional ad rural areas strongly outpaced their respective state-wide averages. The activity growth in South Australia was at 20%, New South Wales saw a 23% surge and Victoria was up 19%.
Beer said that this may be due to the cheaper house prices and higher rental yields available in the rural and regional areas.
“With many capital cities experiencing considerable capital gains over the past few years, some investors appear to be seeking out alternate market segments in order to enter the market faster and at a lower price while still realising a solid return,” he said.
“These locations present a unique opportunity for investors willing to think outside the box and take advantage of regions able to still provide returns but at a much lower cost of entry.”
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The seven rural and regional areas on investors’ radars: BMT

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Country Garden’s stage two launch of $550 million Ryde Garden, North Ryde on Saturday saw over 250 people viewing the display with 336 apartments up for sale.
In total, 185 of the 336 sold on the day, with an even mix of one, two and three bedrooms selling as well as two penthouses at $1.88 million each.
<a href="https://www.rydegarden.com.au" target="_blank">Ryde Garden</a>'s stage two release saw one bedroom apartments were priced from $498,000, two bedroom apartments from $685,000 and three bedroom apartments from $950,000.
Property Observer is advised that buyers were attracted to the suburb’s growth prospects and proximity to the university and train station.
<img src="/images/2014/11/17/ryde-nov-17-one.jpg" alt="">
At present, the proportion of owner occupiers to investors remains unconfirmed.
The first launch saw a strong result, with <a href="/expert-insights/buying/strong-off-the-plan-sales-at-country-gardens-ryde-garden-project">296 off the plan sales earlier this year - priced very similarly</a> - securing $186 million in sales, with up to 20% being prior Country Garden customers.
The apartments in this release surrounded a 4,000 square metre park landscaped by Aspect Studios.
The development, designed by Bates Smart, sees each apartment include its own balcony with ground floor apartments featuring private courtyard spaces.
Communal facilities include three rooftop terraces, a swimming pool, gym, BBQ area and childcare on site, with shops, restaurants and cafes nearby.
<img src="/images/2014/11/17/ryde-nov-17-two.jpg" alt="">
The uppermost levels, and rooftop terraces, feature views of the Harbour and CBD.
The development is expected to see construction in December, with completion forecast for mid-2017.
Country Garden emerged in June as <a href="/expert-insights/buying/ryde-garden-debut-for-country-garden-australia">one of the companies potentially interested in purchasing Harry Triguboff's Meriton</a>.
<img src="/images/2014/11/17/ryde-nov-17-three.jpg" alt="">
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Ryde Garden stage two sells 55% at Saturday launch

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When purchasing an investment apartment, it's not uncommon for rental yield and cash flow to be on the list of "top concerns" for the buyer.
Apartments can provide decent cash flow in some locations, usually at a lower price point than for a house in the same area.
Looking to the latest available list of RP Data's suburb statistics, Property Observer found Victoria's highest yielding suburbs and how far from Melbourne's CBD you have to go to find them.
These 12 suburbs range from 6% rental yield upwards from as close as 22 kilometres from the CBD.
Click on the suburb name to go to a more in depth data page:
<ul>
<li><a href="/news">Meadow Heights</a></li>
</ul>
6.01%
22 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Truganina</a></li>
</ul>
6.10%
24 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Melton</a></li>
</ul>
6.29%
45 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Melton South</a></li>
</ul>
6.12%
46 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Cranbourne West</a></li>
</ul>
7.28%
50 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Alfredton</a></li>
</ul>
7.08%
120 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Inverloch</a></li>
</ul>
18.20%
147 kilometres from Melbourne CBD
Note: This statistical anomaly is due to the area’s high frequency of holiday home rentals. Many ask in excess of $2,500 per week for tightly held beach retreat units, while the apartment properties that hit the market regularly tend to be small two or three bedroom offering around the $180,000 to $350,000 mark. It’s unlikely this type of yield is realistically attainable.
<ul>
<li><a href="/news">Yarrawonga</a></li>
</ul>
6.21%
275 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Horsham</a></li>
</ul>
6.43%
300 kilometres from Melbourne CBD
<ul>
<li><a href="/news">West Wodonga</a></li>
</ul>
6.00%
321 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Wodonga</a></li>
</ul>
6.20%
322 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Mildura</a></li>
</ul>
6.23%
542 kilometres from Melbourne CBD
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The 12 highest yielding unit suburbs in Victoria

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Those getting involved in property development, whether for the first time or not, must be aware of the common trip-ups many come across.
Developing can be a hugely profitable venture, but for those who don’t know their roof tiles from their floor tiles, it can be tricky.
<a href="https://verveprojects.com/" target="_blank">Verve Projects</a> has shared five tips that they’ve learned about common traps and what you can do to avoid them.
<ol>
<li>
Never forget that time is money  Although there may be a complex issue that’s demanding all your attention, it’s important to keep all your other balls in the air at the same time. Otherwise, if one drops, it could start a chain of events (and costly delays) that may affect your bottom line. 
</li>
<li>
Always surround yourself with the best team of consultants and contractors  While it may be tempting to go with a cheaper option, there’s every chance a low-quality provider won’t be able to deliver the best outcome, meaning you may need to put out spot fires later on. It’s always important to consider quality versus cost the first time around so you can budget accordingly and avoid costly hiccups. 
</li>
<li>
Do your homework  Thorough due diligence is vital towards delivering a successful project. A development site may look viable on paper but if an unbudgeted issue goes undetected through the acquisition or tendering process – such as contamination or environmental complexities – it can blow a sizeable hole in your cashflow, erode profitability and leave you scrambling to secure extra funding at the project’s front end. 
</li>
<li>
Always consider all the options  Never assume there is only ever one solution for a development issue. That said, once the preferred development solution is identified and agreed on – lock it in and focus on delivering your goal. Nothing erodes profitability and delays development timeframes like indecision. 
</li>
<li>
Always confirm your communication objectives and reporting requirements upfront  Communication is essential towards the smooth delivery of any project. Always ensure open lines of communication, agree on expectations upfront and lock in regular meeting arrangements to ensure the swift turn-around of decisions and approvals, otherwise, refer back to point number one!</li>
</ol>
Source: Verve Projects.
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Five things to know before starting a development project

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Sydney should take a more regional approach to planning, according to the Urban Taskforce’s CEO Chris Johnson, who says that the capital should learn from the Hunter and Illawarra’s models.
With a recent announcement by NSW Minister for Local Government Paul Toole relating to five joint organisation pilots, Johnson has expressed their support of the approach, which will see the many individual councils in Sydney centralised.
“The two urban groups of the Hunter and the Illawarra can demonstrate a successful model that could be applied to Sydney councils if amalgamations do not occur in all areas,” said Johnson.
The current Hunter model is for 11 councils to share services, which Johnson notes is a good beginning, but the big issue of a single ‘centre of excellence for planning’ needs to be part of the pilot.
“A central planning office can develop specialist skills in strategic planning, assessments and infrastructure planning while increasing career prospects for young planners. The planners will also take a more independent position in the assessment of projects,” he said
Johnson said that the future of urban areas must be a partnership between the local government and the private sector development industry.
“It is encouraging to see that the Minister for Local Government has identified planning as a key community priority that cuts across traditional local government boundaries along with jobs and infrastructure.”
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Sydney should emulate Hunter, Illawarra planning success: Urban Taskforce

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Mortgage Choice’s recent First Home Buyer Survey 2014 paints an interesting picture of the 'average' age and purchase choice of a first time buyer.
How do you compare to their average?
Here are nine points of comparison. Answer the questions below, then turn the page to see how your responses stacked up.
<ol>
<li>How old will you be when you buy that first home? 
</li>
<li>Who are you intending to buy with? 
</li>
<li>How will you finance it (what LVR, and will you have assistance)? 
</li>
<li>How long will you be saving for before buying? 
</li>
<li>How much of your after tax income do you save each month? 
</li>
<li>What type of property are you looking to buy? 
</li>
<li>Are you able to buy where you want to? 
</li>
<li>What are your biggest concerns about buying a home? 
</li>
<li>What are your key motivators behind purchasing?</li>
</ol>
Turn the page to see how you stack up.
<hr class="system-pagebreak">
<ol>
<li>
How old will you be when you buy that first home? Of those surveyed by Mortgage Choice, 43.1% said they would be 30 to 39. A further 33.4% said 18 to 29. 16.9% said 40 to 49, while 6.6% said 50 plus. 
</li>
<li>
Who are you intending to buy with? The majority, 65.6%, of first home buyers are looking to buy with their spouse or partner. A further 28.6% are buying alone, while a small minority are considering purchasing with colleagues, siblings or other family members. 
</li>
<li>
How will you finance it (what loan to value ratio (LVR), and will you have assistance)? Most first home buyers are seeking a 6-10% deposit, with 28.9% pointing to this bracket, closely followed by 20.7% with a 5% deposit. 14% of respondents said they would opt for an 11-15% deposit and 14% of people a 16-20% deposit. Those contributing more than 20% totaled 16.3%. A minority looked to get their parent to act as guarantor. 
</li>
<li>
How long will you be saving for before buying? The most common response was for a period of one to two years, with 43.1% answering with this option. A further 16% and 15.1% noted one to two years and two to three years respectively. Just 9.2% will save for zero to six months. 
</li>
<li>
How much of your after tax income do you save each month? This is a close call. If you answered 10%, then you’re closest to the most common person surveyed, with 28.1% opting for the figure. However, 25.5% noted 20%, with 17.6% selecting 30%. 
</li>
<li>
What type of property are you looking to buy? The majority are looking to purchase an established home (47.9%), while 17.1% are aiming for a newly built property. Those looking for land, or off the plan, remain in the minority. 
</li>
<li>
Are you able to buy where you want to? The majority say… no, with 54.3% unable to do so. This is largely as a result of cost, with 88.8% of those respondents saying it’s out of their price range. 
</li>
<li>
What are your biggest concerns about buying a home? First home buyers are most concerned about the commitment that comes with a large financial obligation (48.7%), while similar figures were for ‘The length of time it takes to pay off’ (46.2%) and ‘Not being able to afford repayments’ (45.2%). Around a third of those surveyed also noted that the amount of money they would have paid by the end of the loan term, not taking out the most suitable home loan and buying the wrong home are significant concerns. 
</li>
<li>
What are your key motivations behind purchasing? The most common answer, with 53.3% of respondents opting for this, was to set themselves up financially. A total of 45.6% wanted a family home to raise their children in, while 33.1% of respondents also said that rising rents was making owning more attractive. Favourable market conditions and seeing more benefit in property than the share markets nabbed above 19% of respondents for each. 
</li>
</ol>
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How do you compare to the 'average' first home buyer?

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Brisbane’s inner city apartment market recorded a strong September quarter this year, but it’s the closing quarter of 2014 that’s expected to break sales records, according to a new report from Place Advisory.
The Place Advisory Inner City Apartment Market Report says that demand remains strong and while the September figure was below the June quarter, they predict demand will strengthen over December.
While five projects launched over September with a total of 727 new apartments, over the December quarter up to 14 projects with more than 2,200 apartments are expected to launch – the first time the end of year quarter has seen this much activity.
Over September the majority of the sales were one and two bedroom apartments, totalling $428 million in off the plan transactions. The unconditional sale price in Brisbane over the September quarter remained steady at $545,478 (weighted average), which sits 1% below June and 8% down on a year prior.
The 2014 year to date has seen 2,535 transactions. The majority of sales are under $550,000, with two bedroom apartments the most common seller.
New Farm, Newstead and Teneriffe saw the majority of sales over the three months – totalling 637. South Brisbane, West End and Kangaroo Point proved less active with 144.
Remaining apartments for sale (as of the end of September 2014):
<ul>
<li>1,634 (6.2 months market supply)</li>
<li>Inner North: 1,018</li>
<li>CBD: 369</li>
<li>Inner South: 529</li>
</ul>
Source: Place Advisory
“The September 2014 quarter saw a total of 785 unconditional sales across 56 inner Brisbane projects which is well above the long-term 10-year average of 343 sales per quarter,” Place Advisory’s director Lachlan Walker said.
“The Brisbane inner city apartment market is in a perfect position as we head into the last quarter of 2014 with high demand and more projects coming on to the market.”
Walker said that positive momentum is growing for owner occupiers and investors with the median apartment price substantially below those seen in Sydney and Melbourne, by 45% and 25% respectively.
“Brisbane provides an affordable substitute investment for our southern neighbours with a much greater propensity for growth. This is one of the key reasons Brisbane has had such strong interstate interest the past 12 months,” he said.
 “There is an old wives tale that Brisbane shuts down after Melbourne Cup. We are definitely not expecting that to be the case this year with the December period showing strong signs that we will have a great finish to 2014.”
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Brisbane inner city tipped to smash sales records in final quarter

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Tasmania isn’t exactly known for its expensive rental apartments and looking at the top five priciest rental unit suburbs it’s pretty clear why.
With a list that doesn’t even span above $400 per week, here are Tasmania’s five most costly rental suburbs, based on RP Data’s weekly median advertised rent.
<ol>
<li>
<a href="/news">Hobart</a> - $450 
</li>
<li>
<a href="/news">Battery Point</a> - $375 
</li>
<li>
<a href="/news">Launceston</a> - $328 
</li>
<li>
<a href="/news">Sandy Bay</a> - $310 
</li>
<li>
<a href="/news">North Hobart</a> - $305
</li>
</ol>
There were just two other suburbs that clocked $300 per week for the median weekly advertised figure, and these were <a href="/news">Bellerive</a> and <a href="/news">Kingston</a>.
Of course, this isn’t to say that specific pricey rentals aren’t available. Looking on listings websites reveals that for $1,400 per week <a href="https://www.realestate.com.au/property-house-tas-binalong+bay-413208891" target="_blank">11 Reserve Street in Binalong Bay</a> can be your new home.
The three bedroom, two bathroom home is a holiday rental, walking distance from the beach and tennis courts.
Holiday accommodation and fully furnished properties are clearly those asking for the big dollars.
Looking for $800 a week is this family home seeking a new tenant. At <a href="https://www.realestate.com.au/property-house-tas-granton-413422227" target="_blank">10 Christopher Close in Granton</a> it’s a four bedroom, two bathroom beauty with expansive gardens that a gardener attends to weekly.
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The five most expensive suburbs to rent a unit in Tasmania

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We’re coming close to Christmas already, with November now in full swing. Unsurprisingly, this has some in the property industry eyeing up what may happen in 2015.
Allworth Homes’ managing director Stephen Thompson has big predictions for what changes may occur.
Many of these appear to be good news for consumers and first home buyers.
Here are his six predictions:
<ol>
<li>
Competition amongst land developers will drive prices down Together with smaller lot sizes (i.e. cheaper), this should bring a swathe of new buyers to the market who would previously not considered building. 
</li>
<li>
Home designs will be small to suit a new market Clever layouts incorporating things like computer nooks and great storage will be a top priority. Separate zones for family living is still important and of course the indoor-outdoor living/kitchen/dining transition must be seamless. 
</li>
<li>
House and land packages v split contracts Whilst the market is ‘hot’, buyers will pay a premium for a package as they’re being sold the repayments as much as the house. However, plenty will still source their own land and select a contract builder – by doing this they save tens of thousands up front, not to mention long term interest repayments. When the market inevitably cools, some of the newer exclusive package builders will withdraw – most either don’t want to do contract work or are incapable. Clients can be quite demanding when it comes to spending their hard earned cash on a new home (and rightfully so) – it takes a contract builder of experience to meet their expectations. 
</li>
<li>
Land availability will be strong in 2015 There’s a lot of land coming to the market late 2014 and into 2015. A lot at affordable pricing, particularly in the Hunter and Illawarra regions. There is pent-up demand for affordable housing. Lot sizes in Sydney will me markedly smaller. In the regions where 600 square metres was the minimum the market found acceptable are looking at 450 as the norm. 
</li>
<li>
Volume home builders will be assessing some alternative materials to bricks Bricklayer availability is a serious issue we’ll have to deal with in the near future. Builders will have to assess the use of different types of material, as well as making sure it stays ‘on trend’. Stephen Thompson said, “People are warming to the idea of alternatives to brick, as long as the alternative maintains all the benefits of traditional brick veneer. Looks, insulative properties and the ‘knock test’ has to be passed. Rendered and painted requires less frequent maintenance than it once did with modern materials.” 
</li>
<li>
Multigenerational living is on the rise A lot of new home buyers are now following the trend toward ‘future-proofing’ their new home design. That is, designs that allow, with a small amount of renovation work, a former living area to be converted into sleeping accommodation with bathroom access, for example. Homes with versatile spaces that can be used in different ways and accommodate multi-generational living will continue to be in high demand in the coming years.</li>
</ol>
Source: Allworth Homes
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Six home building and design trend predictions for 2015: Allworth Homes

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.

Joel Robinson

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

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Jennifer Duke

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