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Last year, $51 billion worth of residential property changed hands, according to the Real Estate Institute of Queensland (REIQ).
REIQ chief executive Antonia Mercorella said Queensland's home transaction values peaked at $73 billion in 2007, but that "there's a very encouraging upward trend which is great news for home owners".
2014's result is the highest since 2010.
<img src="/images/2015/03/02/reiq-mar-2-two.jpg" alt="">
Sales volumes are also "clearly heading in the right direction," said Mercorella, with 114,000 transactions recorded last year. The highest ever year for number of transactions is 2003.
"And in another encouraging sign, there's been a significant rise in the number of suburbs where every vendor made a profit on sale," she said.
"In 2014, there were 49 Queensland suburbs where every property sold at a profit, up from just 22 suburbs in 2013."
The majority of suburbs with 100% profit-making sales were in Brisbane, with the eastern suburb of Gumdale having the greatest increase in profit making sales of any Brisbane suburb. There, transactions were up 33% over the year.
"Tara on the Western Darling Downs recorded the biggest increase in profit-making sales anywhere in the State, with an impressive rise of 36%," said Mercorella.
"Other strong performers included Goombungee, north of Toowoomba (up 27% and Caravonica, north of Cairns (up 26%).
"Meanwhile on the Gold Coast, 100% of vendors in Mermaid Beach made a profit on sale in 2014, as the city's prestige real estate market continues to bounce back."
She also noted increased momentum in the prestige $1 million-plus market.
"Around 2,600 properties across 320 suburbs changed hands for more than $1 million in 2014, predominantly in the Southeast," she said. According to the REIQ, properties worth $1 million or more made up the strongest performing segment of the market in the December quarter.
The $1 million-plus price point was Queensland's strongest performer in the December 2014 quarter, with a 17% increase in sales volumes.
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jrichardson-uRX5hFdKfN

Queensland home sales reach five year high: REIQ

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Two women from the world of property were recognised at yesterday's NAB Women's Agenda Leadership Awards.
Sharon Warburton is the executive director of Strategy and Finance, Brookfield Multiplex. She was named Mentor of the Year Awards for her role as a personal mentor to more than 50 young people, and founding online mentorship website <a href="https://www.steelheels.com.au/" target="_blank">Steel Heels</a>.
Anita Mitchell, Lend Lease's general manager of Sustainability-Barangaroo South was a finalist in the category of Emerging Leader in the Private Sector. In her role, she works towards making the development carbon neutral, water positive and zero waste.
For the full list of the winners, <a href="https://www.womensagenda.com.au/nab-womens-agenda-leadership-awards-2015#.VO_kEIWM54v" target="_blank">click here</a>. 
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Anita Mitchell and Sharon Warburton recognised at NAB Women's Agenda Leadership Awards

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The increasing concentration of homes in the inner-suburbs of our capital cities is presenting a range of big challenges, and opportunities, for architects.
The influx of apartment development, particularly in Melbourne, has some concerned about apartment oversupply. <a href="/news/vic/exclusive-does-melbourne-have-an-oversupply-problem">Economists and property pundits</a> are worried about rental yields diving and the degrading value of real estate. Architects are worried about falling design standards and <a href="/expert-insights/buying/no-more-shoebox-apartments-37-square-metre-minimum-size-under-victorian-government-consideration">increasingly cramped low quality apartments</a>. Much of the public is worried about increasing pressure on local infrastructure and whether there will be anything to do in the city apart from look at big, shiny, apartment-filled skyscrapers.
Some, like former <a href="/news/vic/10-quotes-from-planning-minister-matthew-guy-on-changes-in-victoria">Victorian Planning Minister Matthew Guy</a>, who approved many of the high rise towers under currently under construction in the Melbourne CBD. say that the recent apartment boom is tackling the housing undersupply. But whether the stock coming onto the market is appropriate for those who need it is unclear.
Indeed, Prosper Australia estimates that <a href="/news/vic/over-64-000-melbourne-properties-sit-vacant-prosper-australia">17% of properties in the Docklands</a> are functionally vacant.
So is there a way to improve housing affordability through increased supply, without creating (wind tunnel-ridden) inner-city ghost towns?
Hayball director Sarah Buckeridge says part of the solution is to diffuse new housing stock, rather than concentrating development in the inner city.
Buckeridge notes that Melbourne's population growth has putting "a lot of pressure" on the need to provide housing options at an affordable level.
"So I think that it's important to keep providing options not just at a central city location, or suburban locations," says Buckeridge, but to consider the "middle zone": areas that are well served by transport and infrastructure, but not in the immediate inner city.
"High density isn't just happening in the inner city in those tower forms," she says.
"A lot of activity is happening in middle ring suburbs, which is very interesting.
"We've had a lot of <a href="https://www.hayball.com.au/projects/john-street-apartments/" target="_blank">work in the Whitehorse area</a>, in Box Hill and the other suburbs there.
"And I think that's a really positive development for those areas. It's bringing renewal for underutilized housing stock."
<img src="/images/2015/02/26/hayball-feb-26-four.jpg" alt="">
Above: John Street Apartments. Photo: Rhiannon Slatter. Source: Supplied.
As for the inner city, despite <a href="/expert-insights/buying/are-studio-apartments-a-good-pick-for-first-home-buyers">dwindling square footage in CBD studios</a> and concerns over the quality Melbourne's "affordable" developments, Buckeridge says good design doesn't have to be sacrificed for affordability – in fact, architects have an important role in delivering affordable projects.
"It's not a matter of losing out, but obviously you need to be inventive about how you use building technology and materials," she explains.
"It's not about doing a compromised amenity for those apartments at all. I think there's actually a good opportunity to build in a diversity of different price points, even within single developments.
"What we're finding more and more in the inner city locations, there's going to be a market at the affordable end, perhaps at one bed units, through to bigger units attracting a premium price point."
Beyond diversifying the available stock in particular developments or areas, to avoid a concentration of one particular type of resident or an oversupply of one particular type of home, Buckeridge says engaging with a development's location is vital.
"We're advocates of always looking at the site and thinking about what suits those particular locations," says Buckeridge, citing <a href="https://www.hayball.com.au/projects/my80-2/" target="_blank">MY80</a>, a 55 level, 487 residence tower in the Melbourne CBD.
"That's a case where on quite a small site, a high tower form can still provide a good streetscape outcome, and good amenity. It really capitalises on its impact," says Buckeridge.
<img src="/images/2015/02/26/hayball-feb-26-three.jpg" alt="">
Above: MY80 exterior. Photo: Peter Clarke. Source: Supplied.
<img src="/images/2015/02/26/hayball-feb-26-two.jpg" alt="">
Above: MY80 interior. Photo: Shannon McGrath. Source: Supplied.
The project has a variety of communal spaces to draw residents out of their individual apartments and to foster a "vertical neighbourhood", including a dining area, a swimming pool, a cinema, a business area and a rooftop bar.
According to Buckeridge, as architects Hayball attempts to encourage communities in high-density environments by providing opportunities for residents to interact.
<a href="https://www.hayball.com.au/projects/bravo-apartments/" target="_blank">Bravo, in Carlton</a>, is <a href="/expert-insights/buying/carlton-parkside-project-bravo-sells-24-apartments-in-first-three-weeks">another Hayball project</a> which has seen the architects use social spaces, including a roof deck, to create what Buckeridge calls "communities at the building scale".
<img src="/images/2015/02/26/hayball-feb-26-five.jpg" alt="">
Above: Bravo. Photo: Henry Lam. Source: Supplied.
On the street level, architects and developers can work together to create socially active sites as well. Mixed-use tenancies – recreation centres, restaurants or shops – on the street level can engage both residents and passers-by. When street-level engagement is done right, it can stop residents from flooding out of their local areas in search of better food, entertainment or social spaces – leaving apartment-dense districts "soulless", as <a href="/news/vic/docklands-finding-its-feet-after-a-difficult-conception">some have described</a> Melbourne's Docklands.
"Melbourne's CBD is rightly renowned as having a really strong urban realm environment", says Buckeridge. As the density of housing increases, it will be architects who ensure that this remains the case.
Feature photo: MY80 interior. Photo: Shannon McGrath. Source: Supplied.
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How to do high density - keep it affordable and diverse: Hayball's Sarah Buckeridge

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A mix of local owner occupiers and investors have purchased 70% of the 136 apartments in Doncaster's Gardenhill development, within three months of its launch.
The development is a joint venture between Melbourne's Beulah International and Malaysia's Fajarbaru Builder Group. Woods Bagot designed the project, with a curved façade and sliding panels on both the exterior and in the apartments' interiors.
<img src="/images/2015/02/24/doncaster%20two_0000_1.jpg.jpg" alt="">
The internal movable panels allow residents to rearrange the layout of their apartment.
The rooftop garden has been designed by Jack Merlo and includes a teppanyaki BBQ, an edible garden, deck and grassed entertainment area.
<img src="/images/2015/02/24/doncaster%20two_0002_3.jpg.jpg" alt="">
Prices for one bedroom apartments in <a href="https://www.gardenhill.com.au" target="_blank">Gardenhill</a> (pictured above) begin at $390,000. Both one and two bedroom apartments are available.
Fajarbaru-Beulah International (Melbourne) executive director Jiaheng Chan says the flexible interiors have attracted buyers, which include both downsizers and investors.
"We've found the project's flexible interior spaces and moveable sliding panels along with the impeccable architectural design and stunning uninterrupted views to be some of the biggest draw cards for the project so far," said Jiaheng.
The development, currently under construction, is one of a number currently being marketed to buyers in <a href="/news">Doncaster</a>.
The nearby <a href="https://imperialdoncaster.com/" target="_blank">Imperial Doncaster</a> (pictured below) is offering a Chinese New Year special, with developer AFX covering stamp duty costs for buyers until 28 February. The medium-rise, 10 storey development has 93 apartments.
<img src="/images/2015/02/24/doncaster_0000_1.jpg.jpg" alt="">
Designed by Buchan Group Architects, the apartments are priced from $547,000 for a two bedroom apartment, but some apartments exceed $2 million. There are currently 12 apartments available.
The AXF Group, which began developing property in 2005, ranked among the busiest developers in Melbourne's outer eastern suburbs, <a href="/news/vic/chinese-developer-asx-property-selling-imperial-the-crown-of-doncaster">Property Observer reported in 2013</a>.
<img src="/images/2015/02/24/doncaster_0005_6.jpg.jpg" alt="">
In 2011, the group completed another Doncaster project, The Berkeley, a 116-apartment block. 
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Doncaster's latest Gardenhill 70% sold as Imperial reaches tail end

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A $3.35 million Vaucluse home was the most expensive sold last week, exceeding the sale of $3,225,000 Mosman house.
The house at <a href="https://www.domain.com.au/property/sold/house/nsw/vaucluse/?adid=2011702484" target="_blank">9 The Crescent in Vaucluse</a> (pictured above) had remained in the same family for 53 years. It has four bedrooms, two bathrooms and a powder room, with separate living and dining rooms.
The home also includes two sunrooms, with timber flooring and decorative ceilings. The house, sold through Richardson &amp; Wrench Double Bay, is located just across the road from waterfront parklands.
A renovated Federation home at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-mosman-nsw-2088/225370" target="_blank">131 Middle Head Road, Mosman</a> was the second highest sale of the week. Sold through McGrath Estate Agents, the c1910 home with a rear north orientation has four bedrooms and rear access.
The top 10 sales of the week ending 22 February
<ol>
<li>9 The Crescent, Vaucluse, NSW, 2030, four-bedroom house, sold on February 17 by Richardson &amp; Wrench Double Bay for $3.35 million </li>
<li>131 Middle Head Road, Mosman, NSW, 2088, four-bedroom house, sold at auction on February 18 by McGrath Estate Agents for $3.225 million </li>
<li>6 Alton Avenue, Concord, NSW, 2137, five-bedroom house, sold at auction on February 17 by McGrath Estate Agents for $2.99 million </li>
<li>63 Wharf Road, Gladesville, NSW, 2111, five-bedroom house, sold on February 17 by McGrath Estate Agents for $2.9 million </li>
<li>4A Bellevue Garden, Bellevue Hill, NSW, 2023, three-bedroom house, sold prior to auction on February 18 by Phillips Pantzer Donnelley for $2.79 million </li>
<li>5 Linkmead Avenue, Clontarf, NSW, 2093, five-bedroom house, sold at auction on February 21 by Clarke &amp; Humel Property Manly for $2.715 million </li>
<li>37 Windsor Street, Paddington, NSW, 2021, three-bedroom house, sold prior to auction on February 21 by BresicWhitney Estate Agents Darlinghurst for $2.7 million </li>
<li>369 Esplanade, Mount Martha, VIC, 3934, five-bedroom house, sold on February 17 by Harcourts Mornington for $2.65 million </li>
<li>44 Nelson Road, Lindfield, NSW, 2070, four-bedroom house, sold at auction on February 21 by L J Hooker Concord for $2.643 million </li>
<li>36 Bourne Road, Glen Iris, VIC, 3146, four-bedroom house, sold at auction on February 21 by Marshall White Real Estate for $2.54 million</li>
</ol>
Source: CoreLogic RP Data 
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After 53 years of ownership, Vaucluse home pips Mosman: CoreLogic Top 10 sales

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All eyes are on Hollywood today.
Will Julianne Moore finally get her Oscar? What will she wear? Birdman or Boyhood?
In case you're wondering, our tips: Yes; Tom Ford (unfortunately, it turned out to be Chanel); Birdman.
To celebrate the 2015 Academy Awards, Property Observer nominates five outstanding Hollywood homes.
Stahl House 
 <img src="/images/2015/02/23/800px-Case_Study_House_No._22.JPG" alt="">
Source: Ovs, Wikimedia Commons.
Stahl House, aka Case Study House #22, is one of the most famous homes in the Hollywood Hills. Designed by Pierre Koenig and built in 1959 as part of the Case Study Houses program, the glass and steel modernist house has an "L" shape, and offers panoramic views of Los Angeles from its hillside perch.
The home has also been the set of many commercials and films (though none, to our knowledge, that have been nominated for an Academy Award).
Photograph: Julius Schulman
The Chemosphere
<img src="/images/2015/02/23/John_Lautners_Chemosphere_8189866290.jpg" alt="">
Source: evdropkick, Wikimedia Commons. 
The Chemosphere is not only a famous Hollywood home but a home made famous in Hollywood films.
Lautner's modern works are both a favourite of filmmakers, with Elrod House featuring in Diamonds are Forever, and the Schaffer residence appearing in A Single Man.
The Chemosphere is a one-storey octagon, set on a concrete pole. The feat of engineering and its distinctive look has seen the home often imitated in film - it was the direct inspiration for Sam Rockwell's pad in the Charlie's Angels film.
Hollyhock House
 <img src="/images/2015/02/23/Hollyhock_House.JPG" alt="">
Source: Sfoskett, Wikimedia Commons.
Frank Lloyd Wright's first Los Angeles project was Hollyhock House in East Hollywood. The home, which Wright described as being of a "California Romanza" style, was built for oil heiress Aline Barnsdall.
Completed in 1921, the house is set around a central courtyard, with tilted walls at the exterior. The hollyhock itself is a motif used throughout the house.
3028 Paulcrest Drive, Hollywood Hills
<img src="/images/2015/02/23/mila%20kunis%20house.jpg" alt="">
Actress Mila Kunis sold her contemporary Mediterranean style home late last year for a reported US$3.995 million sum.
The <a href="https://www.estately.com/sold/3028-paulcrest-drive--2" target="_blank">house off Mullholland Drive</a> has five bedrooms, five bathrooms, a pool and an eight-seat movie theatre. It features vaulted ceilings with exposed timber beams throughout.
Moorcrest
<img src="/images/phocagallery/2014/07/moorcrest-july-22/moorcrest_0000_1.jpg.jpg" alt="">
The incredible former house of Charlie Chaplin is now owned by musician Joanna Newsom and her husband, Emmy winning comedian and actor Andy Samberg.
The <a href="/news/from-incredibad-to-chaplins-pad-andy-samberg-and-joanna-newsom-buy-legendary-hollywood-home">Beachwood Canyon home</a> was originally built as part of the Krotona Colony, the national headquarters of an esoteric philosophical group called the Theosophical Society.
The home has Moorish, Gothic, Mission-revivalist and Art Nouveau influences. It was designed in the early 20s by Marie Russak Hotchener.
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And the Oscar for best house goes to: Five great Hollywood trophy homes

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Federal Liberal MP Kelly O'Dwyer says there is "no one silver bullet" when it comes to housing affordability.
However, at speech made today to the Committee for Economic Development of Australia (CEDA), O'Dwyer, who stood as the chair of a Federal Parliamentary inquiry into the role of foreign buyers in Australia's property market, noted the role of foreign investors in increasing housing supply.
"One of the most critical things I think that the government can do is make sure that we encourage foreign investment," she said.
O'Dwyer said foreign investment was "absolutely critical" to the supply of new dwelling stock and alleviating price pressure.
"This is something that the house standing committee on economics heard a lot about.
"We received evidence from not only economists and academics but also the Reserve Bank of Australia, who said that if you can increase dwelling stock, this has an impact on price... you can keep costs reasonably contained."
O'Dwyer answered questions to CEDA members following a speech on foreign investment, where she invoked the classic Australian comedy The Castle, referencing Australia's enthusiasm for home ownership. Having earlier commented on the Foreign Investment Review Board's (FIRB) lack of action on breaches of current regulation, which requires most foreign buyers to only purchase new housing stock, O'Dwyer noted the opposite effect that foreign investors can have in the established housing market.
"Now, when it comes to existing dwellings, it's somewhat different," she said.
"When there is restricted supply and increased competition, that will also have an impact on price."
O'Dwyer did, however, maintain that the issue of affordability remains a complex one.
"Now, I don't think it's the government's role to determine the price of people's home. It's the government's role to make sure the policy settings are broadly right, so that we encourage new dwellings to be constructed, so that we make sure that there are options for people... to purchase, to rent, or to build themselves.
"And this is a really complex equation. There is no one silver bullet to housing affordability, but we have to look at all these elements combined in order to make sure the dreams of particularly young Australians, to be able to purchase or own their own home – are still going to be a reality for them as they were for their parent's generation."
While O'Dwyer stressed the number of different factors affecting housing affordability, Prime Minister Tony Abbott <a href="/expert-insights/buying/tony-abbott-suggests-foreigners-pricing-out-young-home-buyers">also commented earlier this week</a> on his plans to tighten regulation around foreign investment to protect first home buyer's, saying "obviously, the last thing we want to be doing is pricing young home buyers out of the market".
 
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Foreign investment "absolutely critical" to increased housing supply: Kelly O'Dwyer

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Sellers are loosening their grip around the property market, according to research from LJ Hooker.
However, the real estate agency's latest Buyer/Seller Index has shown that the national market remains well and truly in favour of sellers.
While there was a 13% increase in stock on the market over the December quarter, buyers "easily absorbed" the new stock. The the period marked the 10th consecutive quarter deemed a sellers market by LJ Hooker.
LJ Hooker National Research Manager Mathew Tiller said the Reserve Bank's rate cut actions would have a strong influence on the Buyer/Seller Index.
"If the RBA lowers the cash rate again, then that will further stimulate buyer demand, increasing the weighting in favour of sellers,'' said Tiller.
"But a stable period of interest rates will see demand remain consistent, and continue the Index's course toward a balanced position, as new listings rise and lower economic growth impacts demand.''
According to LJ Hooker's head of real estate, Christopher Mourd, the new uptick in listings reflect seller confidence.
"There are two things currently driving property owners to sell: increased market exposure, thanks to the number of people wanting to buy; and acknowledgement that the rate of price growth in many areas has peaked, and is beginning to slow,'' said Mourd.
"Home owners wanting to upgrade to something that better suits their current lifestyle or aspirations want to transact at a time that offers the best conditions for them and, as the Index has shown, that advantage is closing.
"The feedback from our offices is that buyers are still eager and this weekend's auctions will be a good barometer of any influence of the drop in the February cash rate.''
New South Wales, Victoria, Queensland, South Australia and the Northern Territory remain sellers markets, according to the Index. Tasmania, which saw a recent price boost, moved from a <a href="/expert-insights/buying/hobart-shines-in-2015s-strong-start-but-house-price-growth-set-to-slow-corelogic-rp-datas-january-results">buyers market to a balanced markets</a>.
Both Western Australia and the Australian Capital Territory moved to favour buyers.
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Property market regaining its balance, but still favours sellers: LJ Hooker

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Last year saw the completion of more towers of 200 metres or over than any other year on record.
According to the Council on Tall Buildings and Urban Habitat (CTBUH), a record 97 buildings of 200 metres or higher were built in 2014, 11 of which were "supertalls" – buildings 300 metres or taller.
Only 30 of last year's 200 metre plus buildings are from outside of Asia, with China contributing 58 of the completed towers.
After last year's record breaking year of skyscraper construction, there are a total of 935 buildings that surpass the 200 metre high mark in existence around the world.
Here are eight of Property Observer's favourite Chinese skyscrapers of last year.
<ul>
<li>Wangjing SOHO, Beijing</li>
</ul>
<img src="/images/2015/02/20/ZHA_Wangjing-Soho_04.jpg" alt="">
Source: Zaha Hadid Architects
The three-tower Wangjin SOHO complex was designed by architectural superstar Zaha Hadid. Hadid's signature curved forms are on display, though this project was slightly less controversially curvaceous than Al Wakrah Stadium, despite allegations that the project's designs have been plagiarised.
Height: 200 metres
<ul>
<li>The Wharf Times Square 1, Wuxi</li>
</ul>
<img src="/images/2015/02/20/wharf%20times%20square.jpg" alt="">
Source: 苏宁广场
China's tallest skyscraper contribution of 2014 – and the third tallest skyscraper to be built last year – is the Wharf Times Square 1. Designed by Aeda, the mixed use building holds a hotel and office spaces over its 68 floors.
Height: 339 metres
<ul>
<li>Wuxi Suning Plaza 1, Wuxi</li>
</ul>
<img src="/images/2015/02/20/wuxing%20suning%20plaza1.jpg" alt="">
Source: RTKL
Wuxi has also laid claim to the fourth tallest tower built last year, the Wuxi Suning Plaza 1. The 328 metre tall building has an angular top and is designed for mixed use. It was developed by Suning Real Estate Group, and designed by RTKL.
Height: 328 metres
<ul>
<li>Soochow International Plaza Towers, Huzhow</li>
</ul>
<img src="/images/2015/02/20/international%20plaza.jpg" alt="">
Source: Dadongwu Group
The two (East and West) Soochow International Plaza towers come in at 288 metres. The dual tower complex is perfectly symmetrical, with matching zig-zags on the façade of each tower. Dadongwu Group developed the project.
Height: 228 metres
<ul>
<li>R&amp;F Yingkai Square, Guangzhou</li>
</ul>
<img src="/images/2015/02/20/rf%20yingkai.jpg" alt="">
Source: 探长
The wiggly R&amp;F Yingkai Square might look like a behemoth in any other city. But among Guangzhou's towers, it blends right in. Formerly known as the Park Hyatt Guangzhou Mixed Use Tower, R&amp;F Yinkai Square was designed by Goettsch Partners. It's the 13th tallest building to be constructed in 2014.
Height: 296 metres
<ul>
<li>Fortune Financial Centre, Beijing</li>
</ul>
<img src="/images/2015/02/20/fortune%20financial.jpg" alt="">
Source: Servcorp
Beijing's Fortune Financial Centre comes in at 267 metres, making it this 20th tallest building constructed in 2014. The offices of major companies, including Intel, Toshiba, Dell and Ford, as well as Australian company Servcorp, are the primary occupants of the tower.
Height: 267 metres
<ul>
<li>Heung Kong Tower, Shenzen</li>
</ul>
<img src="/images/2015/02/20/heungkong.jpg" alt="">
Source: 1788111 via skycrapercity.com
The Heung Kong Tower is one of many "supertalls" in Shenzen, but stands apart in its neighbourhood, and is reportedly the tallest in the area. It was designed by the Beijing Institute of Architectural Design, according to CBTUH, and is also known as the Shenzen ChangCheng Center. It was the ninth tallest tower
Height: 303 metres
<ul>
<li>Wuxi Maoye City – Marriott Hotel, Wuxi</li>
</ul>
<img src="/images/2015/02/20/wuxi%20mayoe%20city.jpg" alt="">
Source: abjest
Yet another Wuxi supertall, this tower was the eighth tallest to be built last year, began construction in 2008 and the 88th tallest in the world (for now).
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Eight towering Chinese skyscrapers that highlight sky high aspirations

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The property woes of the Pilbara region in the wake of a moving mining economy are well known.
As the iron ore industry moves from the construction phase to the operations phase and commodity prices drop, so too have rents and home prices.
The Pilbara's property boom, a few years ago, saw investors chase after the stream of fly-in, fly-out workers that flooded its major mining towns. The promise of a population spike and an undersupply of properties lured in investors after sky-high rental yields.
There's no doubt that there was once money to be made by investors who purchased in the Pilbara's mining towns, but those who bought in at the height of the boom have lost, and lost big.
According to the Western Australian government's latest Pilbara Residential Housing &amp; Land Snapshot, all three major towns ­– Port and South Hedland, Karratha and Newman ­– have recorded rental declines in the December quarter of 2014, for the fifth consecutive quarter in a row.
Click charts to open in a new window:
<a href="/images/2015/02/19/Picture%2052.png" target="_blank"><img src="/images/2015/02/19/Picture%2052.png" alt=""></a>
Home prices aren't faring much better, for those who are hoping to sell and recover some of the declining rental income with capital growth:
<a href="/images/2015/02/19/Picture%2053.png" target="_blank"><img src="/images/2015/02/19/Picture%2053.png" alt=""></a>
In Port Hedland, rental prices have been declining for even longer ­– the last three months of 2014 marked the ninth consecutive quarter of declines. The average advertised rental price peaked in the September quarter of 2014 at $2,544 per week. In the latest quarter, the average was less than half that: $1,153 per week, a seven year-low.
The graph below shows just how volatile rents have been in Port Hedland, compared with the low steady growth of rents in Perth.
<a href="/images/2015/02/19/Picture%2054.png" target="_blank"><img src="/images/2015/02/19/Picture%2054.png" alt=""></a>
Last week, Port and South Hedland real estate agent Barry Walsh of Jan Ford Real Estate told <a href="/expert-insights/buying/port-hedlands-price-plummet-can-it-recover">Property Observer</a> the mining boom peak prices were unsustainable.
"It was totally unsustainable where it was, and now that it's stabilising, it will bottom out, and is in the throes of doing that," said Walsh.
"It was unfortunate that the market went where it did, to unsustainable and disproportionate price levels."
When workers began to exit the region in mid-2012, leaving a surplus of rental properties and driving down rents, investors followed.
The graph below shows the spike in homes on the market, beginning in the first quarter of 2013.
<a href="/images/2015/02/19/Picture%2055.png" target="_blank"><img src="/images/2015/02/19/Picture%2055.png" alt=""></a>
One of the characteristic features of a single-industry town, particularly ones with a large proportion of investor properties in the market and transient workforces, is volatility. Karratha displays a similar pattern to that seen in Port Hedland, with the number of rental properties advertised rising dramatically in mid-2011, mirrored by a steep decline in advertised rents.
<a href="/images/2015/02/19/Picture%2056.png" target="_blank"><img src="/images/2015/02/19/Picture%2056.png" alt=""></a>
That volatility is largely due to the region's transient workforce, which made up a large segment of Karratha's population and housing demand. According to the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features10April+2013#p4" target="_blank">Australian Bureau of Statistics</a>, Karratha's census night population (the people staying in Karratha on census night) increased from 13,257 in August 2006 to 20,061 in 2011. The "usual residence population", however, was only 16,475 in 2011, up from 11,727 in 2006.
Back-of-the-envelope calculations imply that in 2011, around 18% of the people in Karratha were not usual residents – presumably, many of them were fly-in, fly-out workers.
Karratha's home prices show the same pattern as that seen in Port Hedland, implying a stream of exiting investors – around six months after rents started declining, in early 2011, the number of homes on the market began to climb:
<a href="/images/2015/02/19/Picture%2057.png" target="_blank"><img src="/images/2015/02/19/Picture%2057.png" alt=""></a>
Further inland is Newman, where the amount of rental stock advertised began to increase in late 2012 (see graph below).
<a href="/images/2015/02/19/Picture%2058.png" target="_blank"><img src="/images/2015/02/19/Picture%2058.png" alt=""></a>
The <a href="https://www.realestate.com.au/property-house-wa-newman-409944187" target="_blank">four bedroom Newman home in a planned estate</a> pictured below is currently available to rent. Its asking rent has more than halved in the past year: In March 2014, it was advertised at $2,000 per week. That number gradually eroded over the months, and landlords are now asking for $900 per week.
<img src="/images/2015/02/19/newman.jpg" alt="">
2 Hibiscus Way, Newman
They paid $408,146 for the property in 2012. If it's rented at its current asking price, it will yield 11.5%
Newman's property market displays the volatility characteristic of the region.
<a href="/images/2015/02/19/Picture%2061.png" target="_blank"><img src="/images/2015/02/19/Picture%2061.png" alt=""></a>
Whether the Pilbara's property market has stabilized and bottomed out, or will continue to see declines, remains to be seen.
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The Pilbara’s property market descent

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

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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.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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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>.

Jessie Richardson

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