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Karratha, in Western Australia's Pilbara region, was pinpointed as Australia's most affordable town, according to the 11th Demographia survey.
The controversial research body noted Karratha's median property price was a supposed $440,000, on low sale volumes, which was 2.6 times higher than its median annual household income of $171,600.
In 2013, it was rated as "severely unaffordable" in Demographia with a median price of $775,000, 4.9 times the then median salary of $156,700.
The household income figure is elevated by the town's mining economy, with iron ore mining a major source of employment in the region.
However, as reported in the <a href="https://www.afr.com/p/national/pilbara_mining_towns_need_jobs_and_SdKCscxN2BhhVzRdVspHAK%20" target="_blank">Australian Financial Review</a>, employment opportunities in the area are declining as the mining industry moves from the construction phase to the operational phase.
According to a Deloitte report for the Chamber of Minerals and Energy of Western Australia, the Pilbara's labour force is expected to decline by 14,300 workers by 2020, as 17,900 construction jobs are shed and 3,600 operational workers are introduced.
The shift has repercussions in the area's property market, despite investment by local and state governments that has delivered infrastructure and improved amenity in the Pilbara, including Karratha.
Demographia's latest <a href="/expert-insights/investing/the-full-affordability-list-from-adelaide-to-wollongong-demographia-2015">International Housing Affordability Survey</a> ranked Karratha the most affordable in a list of 51 towns, using statistics from the Real Estate Institute of Western Australia among other sources, based on median property price as a multiple of median household income.
Property Observer  has previously noted price declines over the past two year, with more obvious price declines evident in 2014.
Karratha's property declines are demonstrated by <a href="https://www.realestate.com.au/property-house-wa-millars+well-118213123" target="_blank" style="line-height: 1.3em;">this Millars Well property</a>, which CoreLogic RP Data reports as having sold for $380,000 in December 2014, after being listed with a price guide of $415,000 (pictured below).
<img src="/images/2015/01/22/k1.jpg" alt="">
The vendors purchased the three bedroom house for $465,000 in 2006. In 2012, while held by the vendor, it was listed to rent for $1,000 per week, representing a yield of 11.2%.
Given Karratha's large transient workforce, its rental market has been characterised by relatively high rents.
<a href="https://www.realestate.com.au/property-house-wa-bulgarra-115025831" target="_blank">506 Hunt Way in Bulgarra</a> sold for $585,000 in December, after just a year of ownership (pictured below). When it was purchased in late 2013, it was priced at $589,000.
<img src="/images/2015/01/22/k2.jpg" alt="">
The vendors who sold the home for $589,000 in 2013 purchased it for just $44,000 in 1996.
In 2012, it was advertised to rent at $1,400 per week – if successfully rented, it would have earned its owners 1.65 times their purchase price annually.
While the gains for investors may have been ludicrous in the past, as the workforce declines, so too does their income stream.
In 2013, Property Observer wrote that the region's rental market was starting to "<a href="/expert-insights/investing/pilbara-rental-market-starts-to-lose-some-of-its-sparkle">lose some of its sparkle</a>". By July 2014, columnist Terry Ryder was calling <a href="/expert-insights/port-hedland-and-karratha-the-best-places-to-buy-dont-get-roped-into-that-one">Karratha a market "in decline"</a>, but remaining "outrageously overpriced".
The price declines are evident at <a href="https://www.realestate.com.au/property-house-wa-pegs+creek-116093911" target="_blank">7 Wilson Court in Pegs Creek, pictured below</a>.
<img src="/images/2015/01/22/k3.jpg" alt="">
The home sold for $685,000 in April 2014. It has changed hands regularly in the last 10 years, first selling for $320,000 in 2004 before making a 173% price increase over three years to sell in December 2007 for $875,000.
It resold again in 2009 for $710,000, dropping 18.9% in a year and a half. It was then held for three years before its $685,000 April 2014 sale.
The home was advertised to rent for $1,000 per week in April 2014, representing a rental yield of 7.5%.
The town's rental market has been in a downturn in recent years, as have many mining towns in the region.
SQM Research shows the <a href="https://www.sqmresearch.com.au/graph_vacancy.php?sfx=&amp;region=wa%3A%3ANorthern+WA&amp;t=1" target="_blank">vacancy rate</a> in Northern Western Australia tracking upwards in the past two years.
<img src="/images/2015/01/22/Picture%207.png" alt="">
<img src="/images/2015/01/22/Picture%208.png" alt="">
The exit of renting mine workers has also seen <a href="https://www.sqmresearch.com.au/graph_median_rent_weeks.php?sfx=&amp;region=wa%3A%3ANorthern+WA&amp;t=1" target="_blank">rents drop in the region</a>.
Asking rents in Northern Western Australia:
<img src="/images/2015/01/22/Picture%2011.png" alt="">
<img src="/images/2015/01/22/Picture%2013.png" alt="">
As the mining economy transitions into its operational phase over the next few years, Karratha's "affordability" looks likely to continue. <a href="https://www.realestate.com.au/property-house-wa-nickol-114049187" target="_blank">19 Matebore Street, in Karratha's Nickol</a>, is currently on the market for $610,000. Its asking price has been discounted by 22% since it was first listed 594 days ago, for $775,000.
<img src="/images/2015/01/22/k4.jpg" alt="">
Asking rents for the house have been similarly discounted over the past few years. In 2012, it was being advertised to rent at $1,700 per week. In 2014, that decreased to $1,100 per week. Last week, it was advertised again at $750 per week.
The owners paid $790,000 for the home in 2009. If it sells at its current asking price, they will be facing a $180,000 loss, plus stamp duty costs.
{mijopolls 82} 
Feature image of Karratha courtesy of Nachoman/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">CC BY-SA 3.0</a>.
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jrichardson-uRX5hFdKfN

Karratha: One of Australia's most "affordable" towns, as prices decline

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The three teams of returning contestants won't be the only "triple threat" joining the next series of The Block.
For The Block Triple Threat, regular judges Neale Whitaker, Shaynna Blaze and Darren Palmer will be joined by buyer's agents Frank Valentic from Advantage Property, Nicole Jacobs from Jacobs Buying Group and Greville Pabst from WBP Property Group.
Both Valentic and Jacobs have bid on the behalf of buyers in previous season of the show, while Pabst regularly appears on A Current Affair ahead of the auctions to evaluate the properties.
Executive Producer Julian Cress told <a href="https://www.news.com.au/entertainment/tv/channel-9-makes-shock-changes-to-the-block-triple-threat-after-auction-disaster-on-last-years-series/story-fn8yvfst-1227188716170" target="_blank">news.com.au</a>: "Everyone has an opinion on the rooms and the apartments on The Block but no one's opinion matters more for the contestants than the actual buyers on auction day."
"We thought giving them some feedback from people who might be ultimately bidding on their apartment would be a valuable addition to the program."
The decision to bring on buyer's agents as judges has been widely interpreted as a response to <a href="https://propertyobserver.com.au/finding/residential-investment/sales-and-auctions/36684-b-grade-high-street-prahran-location" target="_blank">last season's finale</a>, where two of the couples earned $10,000 and another pocketed $40,000, after three months of work.
But smart contestants for several series have been utilising the views of local agents from the preliminary planning to ensure their apartment matches local buyer demographics.
{mijopolls 80}
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Leading Melbourne buyer's agents join The Block Triple Threat

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A rate cut next month might not, well, cut it.
<a href="https://www.propertyobserver.com.au/https://twitter.com/EconoGarry/status/557985374157291520" target="_blank"><img src="/images/2015/01/22/tweet-jan-22-one.jpg" alt=""></a>
Economics writer Garry Shilson-Josling thinks the Reserve Bank of Australia should have dropped the overnight cash rate below its record low of 2.5% early last year.
Several economists anticipate that the Reserve Bank will drop interest rates at its February meeting, including <a href="/expert-insights/finance/westpacs-bill-evans-still-expects-february-and-march-rba-rate-cuts">Westpac's chief economist Bill Evans</a>.
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Tweet of the day: Too little, too late from the RBA

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A rather patriotic-looking beach box at Mornington has been listed, in time for Australia Day.
The 2 metre by 2 metre beachbox with a flag façade is on the market with a price guide of $100,000.
Its distinctive paint job might appeal to those who enjoy the beach on 26 January.
<a href="https://www.propertyobserver.com.au/https://www.conleyluff.com.au/property-details/3004748" target="_blank">Bathing Box 34 at Shire Hall Beach </a>on the Mornington Peninsula is listed through Geoff Luff of Conleyluff Real Estate.
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Flag bearing bathing box listed for Australia Day market

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Up to 120 Gold Coast properties will be auctioned this weekend at Ray White Surfers Paradise Group's mega-auction, The Event.
The 22nd annual auction showcase, the biggest in Australia, will include the Gold Coast Home and Living Expo.
Exhibitors include a range of property and finance businesses, including self-managed super fund advisers, financial planners, and tradespeople.
Properties auctioned on the day will include family houses, investment properties and trophy homes.
A house in Ashmore will be auctioned as part of The Event. The elevated house at <a href="https://www.rwsp.net/qld/ashmore/1240267/" target="_blank">14 Mulyan Place</a> (pictured above) has four bedrooms, with spotted gum floors throughout, and a saltwater pool.
<a href="https://www.rwsp.net/qld/merrimac/1243433/" target="_blank">28 Lakelands Drive</a> (pictured below) is another of the 120 properties up for sale at The Event on Sunday. It has four bedrooms, and the listing states that it would comfortably rent for $800 per week.
 <img src="/images/2015/01/22/raywhite2.jpg" alt="">
Of course, a price guide cannot legally be provided for any of the properties up for auction at The Event, given Queensland's 2014 ban of auction price guides.
The Event 2015 and the Gold Coast Home and Living Expo open at 10am on Sunday 25 January. <a href="https://www.rwsp.net/buy/auctions/" target="_blank">Ray White Surfers Paradise Group</a> chief executive and chief auctioneer Andrew Bell will also present a property report before auctions begin.
Would you sell your property at a mega-auction?
{mijopolls 79}
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Ray White mega-auction event returns to the Gold Coast

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A Sydney vendor has taken the unusual step of advertising a $1 reserve price ahead of the auction of his Blacktown investment property.
Neil Tyagi claims the $1 reserve is intended to inject some fun back into auctions.
"Buying a property should be fun. I wanted to do something different, and I've never heard of a property setting a $1 reserve. Sydney home buyers attend so many boring textbook auctions. I want the auction of my home to have a lively, exciting atmosphere that everyone will enjoy and remember – not just the lucky buyers on the day," he says.
While many wish to have a lively auction, few resort to such an unusual marketing tactic.
Starr Partners Fairfield will be auctioning the property.
Director Raj Bhandari has faith in the stunt, saying: "With a reserve of just $1, bidding on the day is likely to start out low and pick up quickly."
"We are confident with our marketing and sales strategies and know that there will be plenty of competition on the day to help the vendor achieve an optimum result," he said.
Tyagi purchased the two bedroom <a href="/news">Blacktown</a> home 10 years ago, for $310,000. The area now has a median house price of $580,000, according to RP Data.
<a href="https://www.realestateview.com.au/Real-Estate/230-blacktown-road-blacktown/Property-Details-buy-residential-8224634" target="_blank">230 Blacktown Road</a> has four bedrooms and two bathrooms, with a double garage, and is set on a 571 square metre block.
The property is currently rented at $440 per week.
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$1 reserve set for Sydney Valentine's Day investment property auction

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NAME: Dean Landy<img src="/images/2015/01/21/dean-landy-jan-21-profile.jpg" alt="" style="float: right;">
POSITION: Partner in Melbourne architecture firm <a href="https://www.chc.com.au" target="_blank">ClarkeHopkinsClarke </a>(CHC) and founder and director of the <a href="https://www.oneheartchallenge.org" target="_blank">One Heart Foundation</a>, a not for profit organisation working to alleviate poverty in Africa.
COMPANY: Melbourne firm CHC has more than 50 plus years’ experience in creating vibrant communities across the design of entire urban communities as well as education, multi-residential, mixed-use, commercial, health and aged care projects.
OFFICE LOCATION: 115 Sackville Street, Collingwood.
One Heart Challenge operates out of an office in Melbourne’s western suburbs.
<ul>
<li>How long have you been in the industry?</li>
</ul>
I have been a registered architect for 13 years. I’m predominantly involved in the planning and design of retail and mixed use projects, multi-residential, commercial and community infrastructure projects.
My work stitches good architectural outcomes such as a strong design aesthetic, good buildabilty, integrated environmentally sustainable design principles and human-centred design solutions together with a strategic approach that creates a strong local social and economic environment as well as excellent developer returns. In other words, I aim to create vibrant communities.
I began work at CHC in 1998, when it was a practice of only 12 people. Today there are 65 people and the practice has been established for nearly 55 years.
In 2009 I received the ARBV Award for Architectural Services, a client nominated Award based on excellence in the design process. As a result, in 2011 I became an examiner for the ARBV Registration Board, assessing prospective architect’s registration applications for practice in Victoria.
<ul>
<li>What’s happening in the area you specialise in?</li>
</ul>
'<a href="https://%20www.creatingvibrantcommunities.com" target="_blank">Creating vibrant communities</a>' is how we describe CHC’s overarching approach to urban design. It’s a guiding philosophy that motivates us to carefully consider how the process of creating new places and communities should work to ensure new greenfield, brownfield and urban consolidation projects become more financially, environmentally and socially sustainable places to live.
CHC is currently undertaking research to rethink the way new places evolve. We are designing new processes that can be replicated to ensure a more creative and holistic view is taken when designing new places. From the initial idea, or the visualisation stage, through to the realisation of built infrastructure and beyond to activation by new residents and business and retail tenants. We call this the ‘place evolution process’.
This idea has gone beyond just research. We are currently developing a strong resource base and are looking to broaden the discussion in the design community to help contribute to our overall understanding for different stakeholders needs.
<ul>
<li>Describe the most interesting commercial property you have worked on?</li>
</ul>
St Germain is a new greenfield community by visionary developer Gordon Gill. It is being developed within the City of Casey, a fast developing growth area of the south eastern urban corridor of Melbourne. The development has recently been approved by the former Planning Minister Matthew Guy, and is also a demonstration project for the Metropolitan Planning Authority. We are well into the overall planning but it is still in the visualisation phase.
St Germain has been masterplanned with a strong focus on providing a vibrant and sustainable mixed use community – including a strong commercial aspect. The project features a unique planning initiative that is driven by the early delivery of key infrastructure projects around a village square such as a large medical centre and shopping centre to start contributing to the overall target of 3,500 jobs, and enabling more people to live and work in the same community. Community facilities, retirement living and diverse housing options will soon follow once construction starts in 2015.
The new village square and park will create a distinct sense of place, quality urban infrastructure and amenities, and start to build on the desired sense of community.
<ul>
<li>What are the ingredients to being successful in your job?</li>
</ul>
The key ingredient is to form strong relationships with the broad range stakeholders we work with on our projects. This can often go beyond an architect’s traditional role.
By connecting with stakeholders who are most knowledgeable regarding the planning opportunities during visualisation as well as with potential residents and business groups who will be affected during activation, we can much better understand the potential of a site and can act as a type of community advocate earlier on.
By behaving as a catalyst and facilitator of relationships between commercial, government and community stakeholders, greater value can be created for all parties throughout these stages, with the end result being a better place for people to live.
<ul>
<li>What aspects of your role do you enjoy the most?</li>
</ul>
Combining my expertise as an urban planner and architect, with the community infrastructure projects we run at One Heart, means I can enjoy making a positive difference in the world in the profession I love to work in.
<ul>
<li>Where would you invest a spare $750,000?</li>
</ul>
I would encourage any individual or company to invest in their people by supporting them to take part in the life changing leadership event that Run From Poverty will provide.
Since founding a charity to help abandoned and orphaned children I strongly advocate for wealthy western professionals to support those in poverty – so I would “invest” in making a future for some of the 22,000 children who die each day due to poverty. That's over 8 million children needlessly dying each year.
For me, rather than be overwhelmed by the enormity of the problem, I am inspired by the fact that I can help change the world for hundreds of children through the work that One Heart Foundation is doing in Kenya. And I believe this is just the beginning.
As part of our Corporate Social Responsibility (CSR) program, CHC are sponsoring two staff members to take part in <a href="https://www.oneheartchallenge.org/run-from-poverty/" target="_blank">Run from Poverty</a>, as we know it will be an invaluable leadership development experience for them.
As a practice with a strong focus on the design of education facilities in Australia, it was an obvious connection for us to fundraise to construct more classrooms in Kenya through One Heart Foundation, as we know that education is the key to breaking the poverty cycle.
I would encourage other companies to consider supporting One Heart Foundation and Run from Poverty in the same way.
<ul>
<li>Which football team do you support?</li>
</ul>
St Kilda.
<ul>
<li>What’s your favourite app or techno gadget?</li>
</ul>
Evernote on my tablet.
<ul>
<li>How do you use social media?</li>
</ul>
I have to admit to being a bit of a social media novice!
At this stage the use of social media has been very useful for updating sponsors on the work of One Heart in Kenya and to connect with potential sponsors for Run from Poverty. However, I’m keen to learn how I can use it more to connect with others involved in urban development and to share and exchange ideas. 
CHC is a supporter of Dean’s charity, which is holding its inaugural fundraising event, <a href="https://www.oneheartchallenge.org/run-from-poverty/" target="_blank">Run from Poverty</a>, in Kenya between 19 and 28 July, 2015.
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In profile: ClarkeHopkinsClarke's partner, Dean Landy

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It may have seemed as though property prices were riding a rollercoaster in the past 15 years, but the ride appears to be slowing down.
CoreLogic RP Data's Cameron Kusher tweeted out a series of charts today illustrating the last 15 years' price growth, broken into five year periods.
<a href="https://www.propertyobserver.com.au/https://twitter.com/cmkusher/status/557661250940059649" target="_blank"><img src="/images/2015/01/21/tweet-jan-21-one.jpg" alt=""></a>
The charts show slower growth in the past five years than the five previous in all capital cities but Sydney.
They also illustrate the volatility of some markets, such as Darwin, which recorded 101.3% price growth in the five years to December 2009, with just 4.5% price growth in the past five years.
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Tweet of the day: Cameron Kusher on slowing capital city growth

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Another Mornington Peninsula boatshed has been released to the market.
A recently rebuilt beach box located on Mount Martha South Beach is being marketed by Warlimont &amp; Nutt real estate.
The colourful <a href="https://www.propertyobserver.com.au/https://wnre.com.au/buy/view/1074" target="_blank">pink and green beach box</a> is listed with a price guide of $147,500.
<img src="/images/2015/01/21/2.jpg" alt="">
This season has seen a number of Mornington Peninsula boatsheds and beach boxes listed, including <a href="/news/vic/portsea-boatshed-listed-with-500-000-plus-hopes">one Portsea offering priced at $500,000</a>.
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Mount Martha beach boatshed listed

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There is a "clear risk" of house prices falling in Australia, according to an international asset management company.
In a recent report on Australia's economy, senior economist for Alliance Bernstein, Guy Bruten, noted a "looming housing correction" amid post-commodity-boom conditions.
"Yes, people are still talking about the upswing phase, but we suspect that will change in the coming months," Bruten wrote.
"There's an obvious impact on the Western Australian housing sector. Perth has already been underperforming, relative to Sydney at least, after outperforming dramatically through the commodity-boom phase.
"More of that is likely to come."
<img src="/images/2015/01/21/Picture%202.png" alt="">
Source: Alliance Bernstein
In the report, titled Australia: Still Fundamentally Bearish, Bruten also noted Sydney's 30% price growth over the past two years, referring to the "boom (bubble?) in Sydney's prices".
"Much of that reflect investor activity – in aggregate, lending growth to investors is running at 10% year on year."
"But with signs of oversupply starting to emerge in pockets of the market, and with APRA (the prudential regulator) starting to offer 'guidance' – a weak form of macroprudential policy – one wonders how long this can continue.
"There's a clear risk that falling house prices may be the next phase in the post-commodity-boom adjustment story."
<img src="/images/2015/01/21/Picture%203.png" alt="">
Source: Alliance Bernstein
Despite positive employment figures released last week, Alliance Bernstein is still forecasting an interest rate. Bruten, like many local economists, raised the issue of "noise" in the Australian Bureau of Statistic's labour force figures, writing: "When we dig down into the detail, it's hard to discern a shift in trend."
Of Australia's unemployment rates by region, he noted "not much change", writing that: "mining is still deteriorating; manufacturing is struggling, too; and the more diversified parts of the country are doing better."
He attributed New South Wales' relatively strong economic performance, in part, to its housing market.
Alliance Bernstein is an asset management firm with US$474 billion (A$580 billion) in assets under management. It is listed on the New York stock exchange.
{mijopolls 77}
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Bearish housing correction looms while Sydney faces bubble question: Alliance Bernstein

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>.

Jessie Richardson

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