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Guest observation
Is there a national housing supply problem? No, but there is a problem of access to affordable housing in certain regions.
Last month, Reserve Bank Governor, Glenn Stevens commented on the need for “<a href="https://www.rba.gov.au/speeches/2014/sp-gov-200814">animal spirits</a>” to respond to the exceptionally accommodative monetary policy setting and boost the supply of housing. More than 12 months have passed since the RBA last adjusted the cash rate to the current record low of 2.5%. This has stimulated investor demand, particularly in metropolitan Sydney and (to a lesser extent) Melbourne. Yesterday’s <a href="https://www.rba.gov.au/statistics/frequency/fin-agg/2014/fin-agg-0814">Reserve Bank of Australia aggregate credit demand figures</a> show loans to investors rose 9.2% year-on-year.
Housing supply, however, is “sticky” and lags in responding to changing demand. The resulting mismatch between demand and supply has led to a year-on-year increase in the <a href="https://www.rpdata.com/research/monthly_indices">RP Data residential property index</a> for Sydney of 16.20%, relative to a long-term average of closer to 4% per annum.
This in turn is affecting people’s ability to pay for their housing needs and places vulnerable households at risk of affordability stress. Housing affordability is a complex issue, affected by housing market and economic conditions as well as labour force and demographic trends.
Federal and state governments have for a number of years recognised the need to address the joint issues of housing affordability and supply, having introduced at the 2008 COAG meeting a multibillion dollar National Affordable Housing Agreement. Yet housing affordability and supply remain on the political agenda with no clear policy response.
Can’t we just build more houses?
A simplistic approach to the problem advises increasing the stock of housing. However this ignores the myriad frictions in property development. Vacant land itself is costly and takes a significant amount of time to develop, including provision of infrastructure and transport.
An additional factor that must be considered is the asymmetry between incomes and property types. In other words, the “right” properties must be built to supply the people who are looking.
Currently, there is a lack of suitable land for residential property expansion that is also accessible and suitably positioned for instance, near employment opportunities and social and physical infrastructure.
Traditional models of housing costs argue that houses are expensive as a consequence of the land they are built on being expensive. More recently, housing economists have studied the effect of government regulation on house prices and property development. Research from the US-based <a href="https://www.nber.org/papers/w8835.pdf?new_">National Bureau of Economic Research</a> identifies zoning laws, and the barriers to development that such regulation creates as a more significant factor driving prices and affordability stress than undeveloped land values.
For many Australians looking to purchase a property, the transaction costs and duties are a major impediment to an efficient property market. Furthermore, fragmented government policies on land use and development, with separate rules at each level of government and typically involving a range of regulatory bodies further compound this.
In Australia, it has been identified that the current lack of a “<a href="https://dd8gh5yx7k.scholar.serialssolutions.com/?sid=google&amp;auinit=M&amp;aulast=Berry&amp;atitle=Why+is+it+important+to+boost+the+supply+of+affordable+housing+in+Australia%E2%80%94and+how+can+we+do+it%3F&amp;id=doi:10.1080/0811114032000147430&amp;title=Urban+policy+and+res">whole of government approach to housing</a>” needs to be addressed in order for an effective response to housing supply shortages.
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Time to consider other options
In the mean time, regulators should consider their other policy options to increase the supply of affordable housing.
On Thursday, the RBA will appear in front of the Senate Standing Committee on Economics investigating the issue of housing affordability. One expected proposal is <a href="https://theconversation.com/macroprudential-regulation-where-central-bankers-stand-depends-on-how-they-think-32093">a tightening of lending standards to property investors</a>. There is only cautious support for any such measure. Renters are among the most exposed groups to housing affordability stress. Reducing the availability of rental properties through constraining investment activity will further exacerbate the effect of price pressures and record low vacancy rates.
An alternative policy may reconsider regulation of foreign investment and stronger regulation of the flow of cash through the “grey economy”. The research is mixed as to the national impact of relaxed foreign investment rules, though growing evidence suggests the current rules, intended to help stimulate those animal spirits and increase supply, has seen foreign investors effectively push potential local homeowners out and keep them in the rental market. The government could look to adapt these policy incentives so as to promote co-investment in affordable developments.
Surplus bedrooms
Another possibility may be exploring how to better utilise the existing housing stock. The ABS’s <a href="https://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/F7B1C824CA185E15CA257BD40015751E/%24File/41300_2011-12.pdf">2013 Survey of Income and Housing</a> found that over three-quarters of Australian households had surplus bedrooms. Share housing picks up some of this space and now account for around 1-in-10 households. Legal and taxation uncertainties may reduce this as an option, following recent reports of local governments threatening <a href="https://www.smh.com.au/nsw/councils-threaten-home-owners-with-1-million-fine-for-renting-rooms-20140926-10mchq">$1 million fines for households</a> offering short-term share accommodation service through Airbnb.
There is no single solution to the range of issues relating to housing supply. Government at all levels and regulators need to work together.
<img src="https://counter.theconversation.edu.au/content/32278/count.gif" alt="The Conversation" width="1" height="1">
Danika Wright is affiliated with Sirca, as a member of the Sirca-RP Data Advisory Board. She is a lecturer in Finance at the University of Sydney.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/its-too-simple-to-argue-lack-of-supply-pushes-up-house-prices-32278">original article</a>.
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jrichardson-uRX5hFdKfN

It's too simple to argue lack of supply pushes up house prices

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Blockheads Darren and Deanne earned 10/10 marks from Block judges Shaynna Blaze, Neale Whitaker and Darren Palmer when they unveiled their garden terrace.
They enlisted Block landscaper David Franklin, of Franklin Landscape &amp; Design, to assist them with the makeover.
Franklin is a renovation reality television regular, having appeared on several seasons of The Block as well as Burke's Backyard, Australia's Best Backyards and Selling Houses Australia.
Darren and Deanne's outdoor space, adjacent to their kitchen and living room, was described as a "Tuscan retreat" by Shaynna.
The judges were particularly impressed by the mezzanine balcony the team built over their terrace. Opening from the master bedroom, the small elevated area has city views.
The terrace featured plenty of greenery, including suspended geraniums.
Despite warnings from Franklin, Deanne couldn't be dissuaded from winding fairy lights around the hangers, though the judges didn't seem to mind.
The couple, who won this week's renovation challenge, earned just shy of a perfect 30/30 score, with one point deducted for failing to use the disco-light strewn vertical planter that Chris and Jenna gave them earlier in the season.
Picture courtesy of Channel 9.
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The Block Glasshouse: The Ds (and their landscaper) garner perfect garden scores

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Attending open homes is one of the most fun parts of buying a property.
You get to walk through a house, imagining how you'd decorate and what your future will look like when you live there - and of course, you get to have a stickybeak in someone else's home.
Unfortunately, there's a good deal more to buying a home than just walking through one. Before you get carried away, there are several (significantly less fun) steps you should take to ensure you are financially and mentally prepared to buy a house.
By taking these steps before you start attending open homes, you can save yourself from an emotional purchase, setting you up for a sound investment.
Before you go to an open home:
Find out your borrowing capacity
There's only one way to figure out what kind of property you can afford - find out your borrowing capacity. If you have some money for a deposit saved up, this should make up at least 10% of the total value of your prospective home. If you put down less than 20% of a property's value for a deposit, you'll likely have to pay <a href="/expert-insights/investing/less-than-a-20-deposit-the-8-things-you-need-to-know-about-lenders-mortgage-insurance-lmi">lenders mortgage insurance</a>.
Make sure that you don't equate your total savings with the amount you can afford to deposit on a home. You should always keep some amount of savings as a buffer, in case you lose your job, get sick or face an unexpected expense.
Calculate your potential loan repayments
It's temping to believe that just because you've saved for a deposit, you can afford to buy a house. However, if it's taken you 10 years to scrape together enough money for a deposit, it may not be likely that you'll be able to afford your mortgage repayments.
There are plenty of <a href="/expert-insights/buying/the-10-free-online-resources-every-novice-buyer-should-use">mortgage repayment calculators online</a> - lenders generally provide them to give you an idea of what you can expect to pay each month.
Draw up a budget
The only way to know what you can afford is to come up with a budget detailing your monthly expenses, probably repayments and extra property related costs like rates and bills. Some people are happy to have a vague mental budget, but remember - you can't skip a mortgage repayment the way you might skip depositing some money into your savings account.
Come up with a strategy
Once you have an idea of what you can afford, think about your investment strategy. Are you buying a house to live in for the next decade, or are you planning to live there for a year and then rent it out? Is it important to you to purchase in an area with strong capital growth potential, or would you rather be close to your parents as you raise a family?
Lofty dreams and aspirations are all good, but it's important to set aside some time to think about your goals and how you want to achieve them. If you're interested in developing a property portfolio, speak to friends and family members who have done the same. There are also plenty of property advisers who can give you some advice (which, of course, you'll consider in relation to a lot of other information) about investing in property.
If you're just sick of renting or living with mum but don't think property investment is something you'll want to dedicate a lot of your time to in the future, you may want something different from someone who is hoping to purchase property one of 15.
Take a long view, but leave in some room for spontaneity - you can't predict everything.
Research, research, research
Now that you have your budget and know why you want to buy property, you can start thinking about where you would like to buy. To get an idea of what you can afford, start by looking at the median price of houses or units in your area of choice.
To get more specific, you can look at recently sold properties in that area to see how much, say, a two bedroom townhouse sold for in the past two months.
While researching, you might find that you can't afford a property in your ideal suburb, and will have to move further out. Don't get disheartened - you can still keep an eye out for bargains in your dream neighbourhood while checking out the prospects 2 kilometres down the road.
When you're choosing suburbs to consider, keep in mind the price of properties in the area, its distance to your work or the nearest employment hub and local amenities. It's temping to buy in a suburb with pretty heritage terraces and your favourite restaurant, but available transport, schools, jobs and population growth may be a little more important.
Once you've done all that and have started walking through homes that are open for inspection, the research, strategy and budgeting process isn't over.
While you look for your first home (or your second, or fifth), you'll find that your priorities shifting and limits tested. Suddenly, things that seemed like dealbreakers are acceptable, or vice versa. So remember, even once you get to start having a good stickybeak in other people's homes, you should be revisiting your property strategy.
 
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The steps you should take before even thinking about the open for inspection

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The debate over negative gearing continues to rage, and consumer advocate Neil Jenman has picked a side.
<img src="/images/2014/09/24/neilj.jpg" alt="">
Current negative gearing tax benefits allow investors to claim tax deductions on investment properties where rental income doesn't cover ongoing costs, including interest on the mortgage.
Earlier this week, the Housing Institute of Australia said restricting negative gearing tax benefits <a href="/expert-insights/finance/restricting-negative-gearing-would-erode-affordability-says-hia-do-you-agree">would increase affordability pressures</a>, as rents would be pushed upwards.
<a href="https://www.propertyobserver.com.au/https://twitter.com/neiljenman/status/514870860373450752" target="_blank">Neil Jenman</a> is among those who disagree. Some who call for negative gearing benefits to be dismantled claim that the practice encourages speculative investing, which inflates housing prices.
 
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Neil Jenman on negative gearing: Tweet of the day

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NAME: Darrell Irwin<img src="/images/2014/09/24/in-prof-di.jpg" alt="" style="float: right;"> POSITION: Director, special projects division COMPANY: Colliers International OFFICE LOCATION: Gold Coast
How long have you been in the industry?
25 years
What's happening in the area you specialise in?
Development sites in South East Queensland are in hot demand, even on the Gold Coast!
Describe the most interesting commercial property you have worked on?
Sale of Couran Cove Resort and the sale of 50 hectares of land surrounding Robina Town Centre to QIC.
What are the ingredients to being successful in your job?
Knowledge, credibility, honesty and hard work.
What aspects of your role do you enjoy the most?
Dealing with the people and analysis of development sites for the highest and best use and consequently the value.
Where would you invest a spare $750,000?
Approved residential development land near water or major infrastructure.
Which football team do you support?
NSW Blues, Queensland Reds and Sydney Roosters.
What's your favourite app or techno gadget?
Hurley surf app.
How do you use social media?
Instagram to keep an eye on what my 11 and 13 year old daughters are up to.
 
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In profile: Colliers International's director, special projects division, Darrell Irwin

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A team of Australian designers and architects are on their way to China for a busy Beijing Design Week.
<img src="/images/2014/09/24/beijing.jpg" alt="">
Australian delegates will be building relationships between Australian and Chinese design industries.
The Australian delegation tasked with promoting our design and architecture include Debbie Ryan, founding principle of architecture practice McBride Charles Ryan. The practice is responsible for some of Victoria's standout contemporary homes, including the Klein Bottle House and Fitzroy North's Cloud House.
Oliver Kratzer, chairman of the Australian Design Alliance and Kenneth Cato, the director of Cato Brand Partners, will also be part of the Australian team heading to Beijing.
Other Australians attending the festival include design academics like Ian McArthur, senior design lecturer at the University of New South Wales Art &amp; Design, and Rohan Nicol, head of Gold and Silversmithing at the Australian National University School of Art.
You can keep up with everything that's happening at Beijing Design Week by following <a href="https://twitter.com/BjDesignWeek" target="_blank">@BjDesignWeek</a> or using the hashtag #BJDW2014.
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Australian designs on show in Beijing: Tweet of the day

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Last night's episode of Location Location Location Australia showed buyer's agents Veronica Morgan and Bryce Holdaway helping out two relocating couples.
Though one couple was upsizing and the other downsizing, they were both forced to negotiate the tricky realities of moving far from home.
Veronica was working with retirees Sue and Barney. After living in Port Macquarie for 16 years, they wanted to relocate to Wagga Wagga, where their son and his young family lived.
The couple, who have been married for 47 years, raised their own family in Wagga Wagga before moving northward to the beach.
For their return to Wagga, they wanted a three bedroom house with a double garage and a shed, which was close to the grandkids.
Their move, which they think might be their final one, had to be done on a tight budget of $350,000.
With limited stock on market in Wagga, Veronica was tasked with finding them the perfect final home among very few options.
She started by taking the couple to their preferred area of <a href="/news">Turvey Park</a>, in the heart of Wagga and only minutes from their son Ben. The three bedroom house, on the market for $329,000, had three bedrooms, a shed and a backyard.
The recently renovated home was a lot smaller than what Sue and Barney were used to, and the couple believed it would take a lot of hard work to make it worthwhile. It was immediately struck from the list despite its great location and the search continued.
The second house they inspected was in <a href="/news">Kooringal</a>, south of Turvey Park but only four kilometres from their son's home. The bigger house, with three bedrooms, only had a single car garage and the shed was on the small size.
While Sue loved the brick bungalow with an open plan kitchen, Barney was pretty skeptical. At $339,000, the house fell under their budget - but only just.
The third home they inspected was in <a href="/news">Bourkelands</a>, four kilometres from Central Wagga. The former site of a military base, developers have recently taken a liking to the area, with new builds popping up.
The house, which also had a $339,000, had a double garage, an open plan kitchen and living room layout. The master bedroom came with a walk in robe and ensuite, which also appealed.
With somewhat shabby bathrooms, the house (pictured below) would require a little bit of work. It <a href="https://www.realestate.com.au/property-house-nsw-bourkelands-116920539" target="_blank">remains on the market</a>, with its asking price now at $332,500. 
<img src="/images/2014/09/24/1.jpg" alt="">
After visiting three homes, none of which ticked all the boxes and all a step down from their dream home in Port Macquarie, the true reality of downsizing began to set in.
Sue and Barney showed just how difficult it is to downsize, especially from a home you love. Though they both wanted to be closer to their family, they weren't quite ready to make the final purchase of their life - especially if it meant settling for a home they weren't happy in.
In the end, although they couldn't find the perfect home, Sue and Barney decided they needed to be in Wagga. So they sold their Port Macquarie home and set out to rent a house in Wagga while waiting for the right home to come onto the market.
This article continues on the next page. Please click below.
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 Bryce teamed up with Melbourne couple Ben and Amelia, who had the opposite move in mind.
They were planning to migrate northward, to the Gold Coast. After watching prices skyrocket in Melbourne, they decided they wanted more warmth and luxury for their dollar.
The upgraders, who want a family home they can grow into, had a budget of $1 million. They've been searching for a home in the Gold Coast for some time, but were finding the interstate property inspections a little impractical.
Enter Bryce. He was tasked with finding them a four bedroom home with a minimum of two bathrooms, a pool and canal views. Ben and Amelia wanted something close to the beach, with plenty of entertaining space.
Bryce was optimistic about their prospects, especially on their budget. The property market's downturn means that homes are more affordable than before, and it's a buyers' market.
According to Bryce, good capital growth potential can again be found in the Gold Coast, with high price growth in the southern states spurring on upgraders just like Ben and Amelia.
Their hunt began in <a href="/news">Broadbeach Waters</a>, at a home situated right on the canal. The four bedroom, four bathroom house had a pool and a six car garage. Unfortunately, it required some renovations - but with a price of $800,000, there was plenty of money leftover in the couple's budget for that.
It seemed, however, that Ben and Amelia had other things in mind. They weren't interested in extensive renovations, and wanted at least two living areas.
So house number one was a bust, and they moved along to house number two: a <a href="/news">Mermaid Waters</a> house with two open plan living areas. The contemporary tiled house had four bedrooms, four bathrooms and a spot to tie up the boat.
There was also an outdoor entertaining space by the pool. On the market for $995,000, it was within their budget, and made a good first impression.
But Ben and Amelia, it turned out, wanted a home with a better indoor-outdoor flow. So house number two was also out.
The <a href="https://www.realestate.com.au/property-house-qld-broadbeach+waters-116288195" target="_blank">third home they inspected</a> was one on main road, which caused some concern. But its huge contemporary interior space and layout, pictured below, won them over. The home, on a wide plot, also included a pool and spa facing the canal, with its own jetty.
<img src="/images/2014/09/24/2.jpg" alt="">
While the home's bedrooms weren't amazing, the outdoor entertaining area was enough to win them over.
The house had a $1 million asking price, but it turned out that the vendors had accepted a $950,000 offer previously, and finance had fallen through.
They inspected a final house, a single storey home with two large living areas and four bedrooms in Broadbeach. The house, which the couple wasn't keen on, had an asking price of $950,000.
The price gave Amelia and Ben a point of comparison, and solidified their preference for the third home.
Knowing that the vendors had accepted a $950,000 offer, Bryce proposed a $930,000 to $950,000 price for the home. Amelia and Ben decided to put in a $920,000 bid, and were happy to play the waiting game.
However, so was the vendor, who rejected the bid. Amelia and Ben pushed up their offer to $945,000 - which, after a few days of waiting, was accepted by the vendor.
By knowing the previous offers put in on the house, Amelia and Ben were able to gauge the vendor's needs, securing the home for $55,000 under the asking price.
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Location Location Location: Big moves and big decisions

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Lenders including NAB, Commonwealth Bank and St George Bank have all begun offering cash incentives to borrowers as the spring property market kicks into gear.
NAB is offering borrowers who apply for a new home loan with a principal and interest value of $300,000 of greater by 31 October a $1,000 eftpos card.
The lender has previously landed in hot water with the Australian Securities and Investments Commission (ASIC) after it released <a href="/expert-insights/finance/misleading-ads-cost-nab-40-800">potentially misleading advertisements</a> regarding a different eftpos offer.
ASIC fined NAB $40,800 over the UBank home loan ads, which promsed a $2,014 eftpos card but failed to disclose all the relevant eligibility details.
St George Bank is offering a $1,250 rebate for borrowers who apply for an Advantage Package home loan before 30 October and settle before 28 February 2015.
Other Westpac-owned banks are offering similar rebates. Borrowers who switch to the Bank of Melbourne or BankSA and take out an Advantage Package loan before 30 November will receive $1,250 to help cover their transfer costs.
The Commonwealth Bank also offers a rebate, though only to first home buyers. Those taking out their first home loan with the Commonwealth Bank before 29 November, with a minimum loan size of $100,000 and a minimum 10% deposit are eligible for a $1,000 cash rebate from the lender.
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Lenders offering cash to entice customers

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Tomorrow, the Reserve Bank of Australia will release its half-yearly Financial Stability Review.
<img src="/images/2014/09/23/tweet-best-sept-23-one.jpg" alt="">
In the lead up, RP Data's senior research analyst <a href="https://twitter.com/cmkusher" target="_blank">Cameron Kusher</a> has been taking a look at the March 2014 Financial Stability Review, copying the following extract:
"More generally, an upsurge in speculative housing demand would be more likely to generate financial stability risks if it brought forth an increase in the construction of a scale that led to a future overhang of supply and a subsequent decline in housing prices. At a national level, Australia is a long way from the point of housing oversupply, though localised pockets of overbuilding are still possible.
"While the recent pick up in higher-density dwelling construction approvals in Sydney and Melbourne warrants some monitoring, the near-term risk of oversupply in those cities seems low. Indeed, concerns expressed by lenders about possible oversupply in the Melbourne apartment market over the past year seem to have lessened, despite rental yields there remaining quite low."
The Reserve Bank noted that strong investor activity in the housing market may be a sign of speculative demand, an upswing of which "may be more likely to generate financial stability risks" if it resulted in housing oversupply.
While the Reserve Bank seemed largely unworried about oversupply in the last Financial Stability Review, governor Glenn Stevens has <a href="/expert-insights/finance/10-things-to-know-about-september-s-rba-meeting-minutes">expressed concerns</a> over the current rate of property price growth.
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Cameron Kusher on the RBA's Financial Stability Review: Tweet of the day

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With the auctions for The Block Glasshouse only a few weekends away and each listed online, people are already guessing what each Prahran apartment will sell for.
Property value predictor realAs has estimated the price of two of the properties on The Block Glasshouse: Chris and Jenna's unit and Max and Karstan's apartment.
So far, Max and Karstan are ahead, according to realAs. Their algorithm predicts that the apartment at <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117846863" target="_blank">3/121-127 High Street Prahran</a> (pictured above) will sell for $1,728,000, based on a price guide of $1.6 million.
Chris and Jenna aren't far behind with their windowless offering predicted to sell for $1,624,000, compared to their price guide of $1.5 million.
Predictions from realAs aren't yet available for Deanne and Darren, Michael and Carlene or Simon and Shannon's apartments.
The listing for Michael and Carlene's apartment at <a href="https://www.realestate.com.au/property-house-vic-prahran-117902235" target="_blank">1/125 High Street</a> describes it as "showcasing the warm style that has made Michael and Carlene major award winners".
Their apartment (pictured below) has 236.8 square metres of floor space, and a southerly aspect. The judges deemed their kitchen, laundry, entrance and living and dining area the best on show this season.
 <img src="/images/2014/09/23/1.jpg" alt="">
Chris and Jenna's apartment, <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117921143" target="_blank">pictured below</a>, has 277 square metres of floor space, making it the biggest apartment in The Block.
The apartment, however, also doesn't have a single external window - just skylights and an internal terrace. To make up for it, they're the only apartment with a rooftop terrace.
 <img src="/images/2014/09/23/2.jpg" alt="">
Karstan and Maxine have a 237 square metre apartment, with a north-westerly aspect (pictured below).
The couple also have a "secret" extra room which is yet to be revealed.
 <img src="/images/2014/09/23/3.jpg" alt="">
The apartment at <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117915927" target="_blank">4/125 High Street</a>, renovated by brothers Simon and Shannon, has a southerly aspect (pictured below).
The 249 square metre apartment is the second largest, and overlooks High Street.
<img src="/images/2014/09/23/4jpg" alt=""> 
Deanne and Darren's apartment, <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117930567" target="_blank">6/121 High Street</a>, is the smallest on The Block, with just 186.7 square metres of floor space.
It does, however, have the most desirable aspect, facing northward and delivering city views (pictured below).
 <img src="/images/2014/09/23/block-sept-23-one.jpg" alt="">
Each team will take home the sale price of their apartment minus their reserve, with the team that has the highest price above reserve also receiving a $100,000 prize.
realAs is also <a href="https://realas.com/theblock/" target="_blank">running a competition</a> for those who think they can guess the end price for the apartments, with an iPhone 6 up for grabs. 
Which apartment do you think will attract the highest price?
{mijopolls 38}
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The Block Glasshouse apartments: How much will they sell for?

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

Joel Robinson

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<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.

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]

Jessie Richardson

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