<html><body>
A range of new laws regarding home building will be introduced in New South Wales this week.
From 15 January, owner-builders will only require a permit for works valued over $10,000, not $5,000. The required threshold for owner-builder courses will also be lifted. Currently, owner-builders must complete an approved course for projects valued over $12,000. After 15 January, the course will only be required for projects costing $20,000 or more.
Owner-builders will also need to name all other owners of the land on owner-builder permit applications. According to the NSW government, the new regulation is intended to prevent owner-occupiers from using the application permit to carry out unlicensed commercial building work.
Those named in an owner-builder permit won't be able to apply for another owner-builder permit for five years, potentially affecting any nomadic owner-occupiers who renovate, redevelop and flip their homes frequently.
Owner-occupiers will also be unable to get permits for dual occupancy projects, barring "special circumstances". From 15 January, they will not be able to get statutory insurance (though their contractors will still require it), and will have to disclose that there is no statutory insurance on the property in any sale contract if the property sells within the warranty period.
It's not just owner-builders who will see changes to their regulatory environment.
From Thursday, there will be changes to builder licence requirements to combat phoenix schemes, where collapsed and indebted companies restart with different names.
Simultaneously, licensing rules will be loosened so builders only legally require a license for works valued over $5,000. Currently, builders must have a license for any work that costs $1,000 or more, including labour and materials. Although the threshold for most builders has increased, tradespeople doing specialist jobs like plumbing or electrical work will require a licence.
For standalone jobs like painting or repairs to water features or tennis courts, builders will no longer need a licence.
NSW Fair Trading Minister Matthew Mason-Cox will also introduce changes to the Home Warranty Insurance Scheme, which will be renamed the "Home Building Compensation Fund".
To claim compensation from the government for building faults, a defect must be deemed "major". Until now, a six year warranty was available for any "structural" defects to homes made by builders or developers. A major defect is defined by the NSW government as those that cause "the inability to inhabit or use the building (or part of the building) for its intended purpose," or "the destruction of the building or any part of the building" or "a threat of collapse" of the building or any of its parts.
Some claim the terminology change will <a href="/expert-insights/investing/nsw-home-owners-dodgy-construction-claims-curbed-by-government">degrade consumer rights</a> but the NSW government claims <a href="/expert-insights/finance/home-owner-rights-still-strong-despite-building-reforms-nsw-fair-trading">home owners won't lose protections</a>, with "general defects" still covered under the standard two year warranty.
Homeowners hoping to wash their hands of any dodgy builders may run into trouble with the government requiring tribunals and courts to "consider rectification as the preferred outcome". Owners cannot "reasonably refuse" access to builders who want to fix their defective work, and Fair Trading Inspectors will be able to "oblige" owners to pay builders money owed under their contract.
Builders will remain responsible for warranties for all work completed on a home, but subcontractors will be responsible for their own statutory warranties. If an owner engages an independent professional who gives written specialist advice to a builder, that builder will now also have a legal defence if the advice contributes to a building defect.
After Thursday, strata buildings will also be considered complete with the issue of an occupation certificate.
</body></html>

jrichardson-uRX5hFdKfN

Changes to NSW home building laws coming this week

<html><body>
Brisbane's median house price now sits at $466,500 after 0.8% growth over December, according to CoreLogic RP Data.
Over 2014, the city saw house values increase by 4.8%­ – the third highest yearly growth rate of Australia's capital cities, after Sydney and Melbourne.
Property Observer looks to recent Brisbane sales to see just what a median-priced house looks like.
<a href="https://www.realestate.com.au/property-house-qld-forest+lake-117448451" target="_blank" style="line-height: 1.3em;">8 Doncaster Place, Forest Lake</a>
<img src="/images/2015/01/12/1.jpg" alt="">
This three bedroom house sold for $460,000 in December last year. The house in the masterplanned Creekwood Estate sits on a 704 square metre block, 18 kilometres from the Brisbane CBD. The home includes a study and a media room, with two bathrooms.
<ul>
<li>Price: $460,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 28 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-house-qld-westlake-118261079" target="_blank">Westlake</a>
<img src="/images/2015/01/12/westlake-jan-12-breakout.jpg" alt=""> 
A brick and timber home set on 829 square metres sold for $468,000 last week. The three bedroom house has one "two-way" bathroom and front and back verandahs. It also offers level side access.
<ul>
<li>Price: $468,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 23 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-house-qld-stafford+heights-118619251" target="_blank">305 Kitchener Road, Stafford Heights</a>
<img src="/images/2015/01/12/3.jpg" alt=""> 
Buyers paid $467,000 for this three bedroom house in Brisbane's north. The brick and tile house on a 607 square metre plot has open plan living areas, with a basement double garage and laundry. The vendors sold the home after just over one year of ownership. They purchased it for $425,000 in November 2013, reflecting 9.9% annual growth.
<ul>
<li>Price: $467,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 15 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-house-qld-cannon+hill-118544475" target="_blank">2 Aeroplane Street, Cannon Hill</a>
 <img src="/images/2015/01/12/4.jpg" alt="">
This post-war house sold for $460,000 late last year. The house in Cannon Hill is set on 670 square metres and has two bedrooms, with one "sleep-out" – an enclosed deck area that can be used to sleep in. There are two living areas, one of which includes a fireplace.
<ul>
<li>Price: $460,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 14 minutes</li>
</ul>
<a href="https://www.realestateview.com.au/Real-Estate/robinson-road-west-aspley/Property-Details-sold-residential-7933950" target="_blank">559 Robinson Road, West Aspley</a>
<img src="/images/2015/01/12/5.jpg" alt=""> 
Vendors secured $466,500 for this four bedroom house in West Aspley. The single level home sits on a recently landscaped 607 square metre plot, and offers off road parking for up to three cars. The vendors purchased the house in March 2011 for $375,000.
<ul>
<li>Price: $466,500</li>
<li>Bedrooms: Four</li>
<li>Drive to CBD: 20 minutes</li>
</ul>
</body></html>

What can you buy for Brisbane’s median house price?

<html><body>
While 2014 saw house prices in Australia's capital cities continue to increase, rents lagged behind.
According to CoreLogic RP Data's latest Rental Report, house rents across the capital cities increased by just 1.2% over the year, with the median rent stagnating at $430 per week in the final quarter.
The slowing rental market was also reflected in the performance of rental units last quarter. The median asking price of capital city units, like houses, <a href="/expert-insights/investing/unit-performance-weak-as-rental-growth-slows-to-decade-low">saw no growth over the three months</a> to December.
Australia-wide, the median weekly advertised rent for a house is now $400.
Of all the capital cities, Hobart saw the greatest rental growth for houses. Asking rents were up 5.4% for the quarter, to $343. The median figure is still the lowest of any capital city.
This two bedroom house in Sandy Bay is currently advertised to rent at $340 per week.
<img src="/images/2015/01/12/3-13-A-Dalkeith-Court-Sandy-Bay-TAS-7005-Real-Estate-photo-1-large-8062562.jpg" alt="">
<a href="https://www.realestateview.com.au/rental-properties/3-13-a-dalkeith-court-sandy-bay/Property-Details-rent-residential-8062562" target="_blank">3/13 Dalkeith Court</a> (pictured above) was purchased for $432,000 in October last year. If the owners secure a tenant at $340 per week, it will be rented at a yield of 4.1%. CoreLogic RP Data's Rental Report notes that Hobart's rental performance in the past 12 months has been significantly stronger than its five-year average growth.
Brisbane had the second highest increase for the December quarter, with rents for houses up 2.5% to a median of $410. Adelaide house rents increased 1.4% to $350 and Canberra's median increased 1.1% to $475, though rents were down 5% on a yearly basis.
The median asking rent for a house in Sydney is now $525, after 1% quarterly growth.
Sydney's house rents remain the most expensive in the country. For the city's median asking rent, a renter might secure a home like the one pictured below.
 <img src="/images/2015/01/12/118-Silver-Street-St-Peters-NSW-2044-Real-Estate-photo-1-large-7932640.jpg" alt="">
The three bedroom house in St Peters (pictured above) is currently advertised at $520 per week. <a href="https://www.realestateview.com.au/rental-properties/118-silver-street-st-peters/Property-Details-rent-residential-7932640" target="_blank">118 Silver Street</a> has long been used as a rental property, with its current advertised rent down from the heady peak of $900 per week in November 2012 (adjusted to $850 per week six months later).
In 2008, it was advertised for $350 per week. At its current asking rent of $520 per week, the house offers a potential yield of 11.9% – the current owners purchased the home for $227,000 in October 1992.
While asking rents for houses in Melbourne remained unchanged for the final quarter of 2014, Perth and Darwin saw declines. The median rent for house in Darwin decreased 0.8% in the quarter, but the city's houses remain the most expensive to rent in Australia, with a median of $645.
Perth's housing market took the greatest hit in the quarter, dropping 2.2% to a median of $450. The city's rental market was the weakest of the capitals across 2014, with asking rents for houses down 6.3% in 2014.
The Bayswater house pictured below is advertised at $450 per week.
 <img src="/images/2015/01/12/3570771-01.jpg" alt="">
The owner paid $420,000 for <a href="https://www.realestateview.com.au/rental-properties/25-farley-way-bayswater/Property-Details-rent-residential-8161062" target="_blank">25 Farley Way</a> (pictured above) in 2009. If they secure a tenant at $450 per week, the home will be yielding 5.6%.
CoreLogic RP Data noted that over 2014, rental growth was at the lowest level recorded in more than a decade.
To see CoreLogic RP Data's summary of the capital city house rental markets, click below.
<hr class="system-pagebreak">
CoreLogic RP Data's capital city house market summaries for the 2014 December quarter:
Sydney
<img src="/images/2015/01/12/Picture%2036.png" alt="">
Melbourne
<img src="/images/2015/01/12/Picture%2037.png" alt="">
Brisbane
 <img src="/images/2015/01/12/Picture%2038.png" alt="">
Adelaide
 <img src="/images/2015/01/12/Picture%2039.png" alt="">
Perth
 <img src="/images/2015/01/12/Picture%2040.png" alt="">
Darwin
 <img src="/images/2015/01/12/Picture%2041.png" alt="">
Canberra
<img src="/images/2015/01/12/Picture%2042.png" alt="">
Hobart/Tasmania
 <img src="/images/2015/01/12/Picture%2043.png" alt="">
Source: CoreLogic RP Data's quarterly Rental Report, December 2014.
</body></html>

House rents vary across the capitals in slow 2014

<html><body>
Rents across Australia's capital cities grew by just 1.8% over the last year, according to CoreLogic RP Data's quarterly Rental Review.
The data provider noted the rental markets performance is the weakest it has been since the mid-2000s.
The median weekly rent for a capital city unit now sits at $410, with Darwin commanding the highest rental rate. Landlords in the Northern Territory capital are asking for $550 per week in rent at the median, which is down 1.8% from the previous quarter.
The fifth floor two bedroom, two bathroom apartment at  <a href="https://www.realestate.com.au/property-unit-nt-woolner-414659271" target="_blank">22/3 Brewery Place, Woolner</a> is currently advertised to rent at $550 per week.
<img src="/images/2015/01/8/dawin%20unit.jpg" alt="">
It was last advertised to rent for $450 per week in April 2008, and was listed as vacant with an asking rent of $350 per week the year before. Having paid $475,000 for the apartment in April 2012, the vendors will achieve a 6% rental yield if they secure a tenant at its current advertised price.
Hobart remains the cheapest capital city in Australia for unit rentals, with a median advertised rent of $280 per week.
CoreLogic RP Data notes that overall, the performance of the unit rental market was somewhat weaker than that of the house market over the past quarter, with Hobart and Brisbane the only capital cities to see an increase in rents over the three months to December. Hobart's unit rents were up 1.8% for the quarter, with Brisbane's up 1.3% over the same period.
Canberra's unit rental declines slowed towards the end of the year, with no change recorded over the quarter, but the rents down 7.3% on a year-on-year basis. This one bedroom apartment at <a href="https://www.realestateview.com.au/rental-properties/78-10-ipima-street-braddon/Property-Details-rent-residential-8099006" target="_blank">78/10 Ipima Street in Braddon</a> is currently advertised to rent at the city's median of $380 per week.
<img src="/images/2015/01/8/canberra%20unit.jpg" alt="">
The asking rent for the 61.6 square metre apartment has not changed since December 2013. Canberra recorded the greatest drop in unit rents over 2014, while Perth landlords lowered their asking rents for units by 4.4% in the same period.
CoreLogic RP Data research analyst Cameron Kusher said declines in Perth, Darwin and Canberra were the exceptions, but capital city rental growth remained slow across all markets.
"Given the recent high number of dwelling approvals and commencements coupled with the high level of purchase activity from investors, we would anticipate that the rate of rental growth will remain soft throughout 2015," said Kusher.
While rents in Adelaide also remained unchanged the three month period, Sydney, Melbourne, Perth and Darwin all recorded declines. Sydney's median unit rent was recorded at $495 for the quarter, down 1%.
Melbourne asking rents for apartments and units have declined by 1.4% for the quarter, but were up 1.4% on a yearly basis. A two bedroom apartment in the complex pictured below is currently advertised at Melbourne's current unit median, $360 per week.
<img src="/images/2015/01/8/21-14-Mitford-Street-St-Kilda-VIC-3182-Real-Estate-photo-1-large-8117090.jpg" alt="">
The advertised rent for the apartment at <a href="https://%20http:/www.realestateview.com.au/rental-properties/21-14-mitford-street-st-kilda/Property-Details-rent-residential-8117090" target="_blank">21/14 Mitford Street, St Kilda</a> has increased by only $10 per week since September 2011. Prior to that, it was advertised at $265 per week in March 2006.
According to Kusher, the performance of rental markets will largely depend on broader economic conditions.
To see CoreLogic RP Data's summary of the capital city rental markets, click below.
<hr class="system-pagebreak">
 CoreLogic RP Data's capital city unit market summaries for the 2014 December quarter: 
Sydney
<img src="/images/2015/01/8/Picture%2032.png" alt="">
Melbourne 
 <img src="/images/2015/01/8/Picture%2024.png" alt="">
Brisbane 
 <img src="/images/2015/01/8/Picture%2026.png" alt="">
Adelaide 
 <img src="/images/2015/01/8/Picture%2027.png" alt="">
Perth 
<img src="/images/2015/01/8/Picture%2028.png" alt=""> 
Darwin 
<img src="/images/2015/01/8/Picture%2029.png" alt=""> 
Canberra 
<img src="/images/2015/01/8/Picture%2030.png" alt=""> 
Hobart/Tasmania 
<img src="/images/2015/01/8/Picture%2031.png" alt=""> 
Source: CoreLogic RP Data
</body></html>

Unit performance weak as rental growth slows to decade low

<html><body>
The Australian Capital Territory Civil and Administrative Tribunal (ACAT) has lowered the penalty tax for a couple who operated an investment property while living overseas, but found that being unaware of a tax was no excuse for a failure to pay.
In 2012, Geoffrey Wade and Siew Imm Tan were living in Singapore due to personal circumstances. In April that year, they used an agent, PRD Nationwide, to rent out their Australian property. For two years, from May 2012 to May 2014, the property was leased, and they were liable to pay land tax for the two years.
Neither the couple nor their agent notified the state tax department of the rental agreement within the required 30 days of its commencement. Once the couple were aware of their tax liability, in early 2014, they began paying the land tax off immediately, in installments.
The Commissioner for ACT Revenue decided to impose a penalty tax on Wade and Tan above the default 25% of unpaid tax, at 50%. The 50% rate usually applies if the taxpayer isn't able to provide a reasonable excuse for failing to pay their land tax, and the mistake was caused by a failure of the taxpayer to take reasonable care.
If a taxpayer intentionally disregards tax law, they are usually charged a penalty at 75% of the unpaid tax. The penalty rate can increase to 90% in certain circumstances.
Wade and Tan disputed the 50% penalty rate, arguing that their agent, acting on their behalf, should have notified ACT Revenue that their property was being rented.
They contended that the legislation which saw them incur a penalty of 50% was irrelevant, as it referred to an owner that had not notified the Commissioner of a rental property, not an agent that had not notified the Commissioner.
However, the Commissioner argued that owners were still responsible for declaring a rental property, even in the case where there has been a failure to do so by the agent. Tan and Wade, it was contended, had failed to take reasonable care, and had an obligation to independently figure out their tax obligations.
Ultimately, the Tribunal considered the couple's exceptional circumstances: Tan and Wade had to remain overseas, were unable to access mail from the Commissioner, and had been let down by their agent (who did not appear as a witness). It also noted that Tan and Wade had not heard of land tax, and upon realising they had a tax obligation, immediately began paying their land tax.
It was, however, also noted that the couple had failed to take reasonable steps to ensure they met their tax obligations, and that they couldn't receive a full remission of their penalty tax.
The Tribunal decided to remit 40% of the penalty tax imposed, which meant they were required to pay a 40% penalty tax, rather than the 50% sought by ACT Revenue.
 
</body></html>

ACAT softens penalty tax for unaware couple

<html><body>
Gentrification.
For investors, it can mean high capital growth, increased tenant demand, and secure passive income.
For locals, it can mean escalating council rates, skyrocketing rents, increasing prices at the neighbourhood shops and, eventually, being ousted from your suburb by cashed up young professionals with a fever for homes in "vibrant", "mutlicultural" or "buzzing" areas. Of course, the process has the habit of pushing out the people who made the area "vibrant", "multicultural" or "buzzing" in the first place.
Many investors seek out areas which are gentrifying, believing they'll be able to purchase cheap properties which will appreciate. In fact, Property Observer knows of one property advisor who actively keeps an eye out for new galleries as an early indicator of a gentrifying suburb.
Either way, it seems there's now a definitive checklist for neighbourhood undergoing gentrification, put together by <a href="https://ny.curbed.com/tags/gentrification-watch" target="_blank">Curbed</a>.
<img src="/images/2015/01/06/tweet-jan-6-one.jpg" alt="">
Although the list is based on American experiences of gentrification, those of the Property Observer team who live in the inner city reckon it looks about right. What does your suburb score?
</body></html>

Tweet of the day: The gentrification check list

<html><body>
The High Court of Australia has sided with the Commissioner of State Revenue in a stamp duty disagreement over Docklands developments.
In the decision, made last month, the High Court ruled that the Commissioner was entitled to reference the entire value of a development agreement, rather than just the sales contract value, when assessing stamp duty payable.
Developer Lend Lease made an agreement with VicUrban in 2001 to purchase Docklands land parcels, with Lend Lease to develop and sell large residential and commercial properties on the land. Both Lend Lease and VicUrban agreed to contribute infrastructure, including a bridge, a park and a road extension, on and around the land.
Under the development agreement, Lend Lease was required to pay additional amounts to VicUrban beyond what was outlined in the sales contract. The additional payments included compensation for infrastructure and remediation, as well as a portion of proceeds received by Lend Lease when they sold properties on the land.
Lend Lease objected to the Commissioners assessment of the stamp duty payable, which referenced the entire quantity paid by Lend Lease as part of the development agreement. The developer argued that the consideration paid for each parcel of land only included the amount specified in the sales contract.
However, the High Court disagreed. In the decision, reference was made to a dispute in 2005 between Dick Smith Electronics and the Commissioner. In that case, the majority held that the total consideration included the buyer's execution of several promises outlined in an agreement which contributed to the overall sum, as the vendor would not have transferred the asset (in that instance, a bundle of shares) if the buyer hadn't taken those actions.
After the Commissioner disallowed Lend Lease's initial objections to his assessment, Lend Lease launched an appeals process which saw the High Court ultimately agree with the Commissioner's assessment. Lend Lease has stated that it respects the High Court's decision.
</body></html>

High Court rules stamp duty consideration extends beyond sales contract value

<html><body>A warehouse and office space in Clayton, Victoria secured $675,000 when sold by Ray White Commerical. The 757 square metre property, with 580 square metres of floor space, was purchased by a local investor. It sold through Ray White Commercial Oakleigh's Paul RIzzo and George Kelepouris. Kelepouris said the property was located in Clayton's industrial precinct. “Properties within this industrial pocket rarely come to market so we weren’t surprised by the significant turnout of prospective buyers and bidders at the auction,” said Kelepouris. “The property is less than 20 kilometres from Melbourne’s Central Business District and is an excellent and convenient location with easy access to Wellington Road, Westall Road, the Monash Freeway and Eastlink.” The two storey office has a kitchenette and an adjoining warehouse.</body></html>

Clayton standalone warehouse sells

<html><body>
Are you energetic, with a sense of humor?
In a long-term couple, family duo or have an "enduring friendship" with someone who knows their way around a construction site?
Most importantly: are you willing to take home nothing but a "nominal weekly fee" if it all goes pear shaped?
If so, you might qualify for the next series of The Block. 
Potential Blockheads have until 6 February to apply for the series, and successful applicants will begin manically shopping for pendant lights and colour-matched art in April. The first episode will see some contestants eliminated before the competition proper begins.
In your application, you'll need to provide details of your citizenship status, your criminal record, your height (in centimetres, please) and your home. You'll also have to describe your would-be team mate in one word (and in many).
Who's the first to make up when you fight? What would be your 'theme song'?
Lest you think it's all about the human drama, the producers are not just interested in your relationship.
What's your design style? What influences and inspires your design? (websites, magazines, designers, periods)? It's unclear whether hopefuls should name drop Neale Whitaker's former employer, Belle Magazine, or his latest, Vogue Living. However, if past seasons are anything to go by, contestants should answer the former question with something vague but boring like "classic with an edge", "minimalist with a twist" or "clean with a splash of colour".
Applicants are asked to provide photos of themselves and their home or homes, and a five minute video.
Meanwhile, filming is well and truly underway for The Block Triple Threat, and marketing is ramping up. This week, the imaginative and current Channel 9 released ads comparing bearded contestant Ayden to "that guy from The Hangover".  Just think – after an online application, this could be you.
<a href="https://www.9jumpin.com.au/show/theblock/glasshouse/latest/week-11/are-you-australias-next-ultimate-blockheads/" target="_blank">Click here to apply.</a>
{qtube vid:=jBCAgaxda5A}
</body></html>

Calling would-be Blockheads: The Block now taking applications

<html><body>
Mortgage comparison website Finder has released an online tool to assist those attempting to keep their New Year's resolutions.
In a study commissioned by Finder, around 45% of respondents surveyed had made a New Year's resolution. According to the study results, two in every three people who make a New Year's pledge don't succeed.
Three in four respondents believed that sharing their resolution helped them achieve their goals, leading Finder to develop an online pledging tool. <a href="https://www.finder.com.au/new-years-resolutions" target="_blank">The tool</a> allows people to share their financial, travel, business and fitness goals, among others, on social media. It also delivers reminders for those who tend to forget their resolutions early in the year.
</body></html>

Finder launches New Year's resolution tool

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;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News