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The Barnett government has increased land tax by 10% across the board amidst slowing revenue growth.
As the state’s property market softens along with its labour market, the government has turned to land tax to offset the state’s declining revenues. The increase in land taxes is forecast to raise an additional $72 million in 2014-15 and $334 million over the four years to 2017-18. Land tax is expected to bring in a total of $752 million for the state this year, and is estimated to bring $1.01 billion in revenue in 2017-18.
In West Australia, land tax is payable on properties with unimproved land values over $300,000. According to the government, the majority of West Australian property owners will be unaffected by the land tax changes due to a range of exemptions. Approximately 80% of those affected, who hold land with an unimproved value of up to $1 million, will experience a tax increase of up to $70 per year.
After the tax increase, West Australian property owners who are ineligible for exemptions will pay annual land tax ranging from $110 for properties with an unimproved land value of $400,000 to $263,000 for unimproved land value of $15 million. Land tax increased by 12.5% in the 2013 budget.
The 2014 budget saw a big infrastructure spend in Perth's north, with $3 billion to go towards the area. Treasurer Mike Nahan, who said the region was one of Perth's fastest growing areas, committed $641.3 million in public transport and road infrastructure spending to the region.
Over four years, $320 million will be spent on extending the Mitchell Freeway from Burns Beach Road to Hester Avenue. The extension is intended to relieve traffic from Clarkson, Butler and Jindalee, which are cited by the government as growth areas. With residential developments planned for the northern region, a further $32.9 million over the next two years will go towards extending the northern suburbs rail line to Butler. A section of the Reid Highway will be turned into dual carriageways, costing $43 million.
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jrichardson-uRX5hFdKfN

Western Australia’s 2014 budget: 10% land tax hike

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The property market is displaying all the typical signs of a slowdown, according to Propell National Valuers.
Citing increasing unemployment levels and federal budget expectations, national research manager Linda Phillips says that housing demand is likely to drop.
“Forget the past. It is now May and the market faces headwinds in the form of the traditionally slower winter months, the painful federal government budget and rising unemployment”, said Phillips.
“Any impetus from the declining interest rates of last year has now worked through the market. The federal budget is likely to impact badly on consumer confidence and strip demand from the market which may need a further lowering of interest rates to restore spending.”
This is contrary to the expectations of many high profile economists and commentators, many of <a href="/expert-insights/finance/interest-rate-stays-on-hold-did-our-experts-get-it-right">whom predict that interest rates</a> are <a href="/expert-insights/finance/rba-expected-to-keep-rates-on-hold-for-now-hsbc">likely to rise</a> before the end of the year. 
According to Propell, increasing property listings this month will be “trading in the face of negative headlines about what the federal budget might include,” and, after May 13, adjusting to the announced budget.
Propell National Valuers itself notes that it was “first to highlight the risk of the abolition of negative gearing in the budget”, but that it appears now that “the housing market itself will not be the subject of direct attacks in the budget.”
However, the company’s researchers do not rule out the possibility of other housing related adjustments in the federal budget. But the greatest budgetary impact on the housing sector will come from the expected reduction in government spending, tax increases and employment levels, according to Propell. The property research firm expects that tightening measures will increase unemployment through the reduction of the public sector and soften consumption, leading to a decrease in real estate demand. It predicts that some states will see median price reductions through the winter months. 
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Housing boom coming to an end: Propell

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Queensland’s Property Occupations Bill was passed earlier this week, bringing a raft of changes to the state’s real estate industry.
Formerly covered under the Property Agents and Motor Deals Act (2000), the real estate industry now will work under its own set of regulations.
The way real estate is bought and sold in Queensland will change in ways that will to affect both buyers and sellers: here’s what you need to know.
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NO MORE PRICE GUIDES... The most controversial aspect of the bill was the removal of price guides for properties sold through auction. Intended to stamp out the practice of underquoting, the changes will stop agents discussing price guides with potential buyers or property reporters. The proposal was supported by the Real Estate Institute of Queensland but derided elsewhere. Groups including the Real Estate Institute of New South Wales the Real Estate Buyers Agent Association of Australia voiced their opposition to the legislative changes in recent months. It’s unclear what effect the changes will have on Queensland’s real estate market. 
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…WITH SOME CAVEATS According to Attorney General and Minister for Justice Jarrod Bleijie, buyers won’t be complete in the dark when it comes to property values. The bill was amended to allow real estate agents to disclose a price guide to listing websites so buyers can still search for properties within a certain price range. However, listing websites are still unable to publish the price estimates. If a seller consents, agents can also provide “market information about a property”.  “However, the bill allows an agent, with a seller’s written consent, to give any person,which includes, for example, a buyer or a property journalist, with market information about a property through the form of a comparative market analysis. There are also numerous online sources that provide market information about properties," said Bleijie. "This information provides objective, not speculative, data to assist a buyer to work out what a property may be worth to them. This information will also assist property journalists and writers to prepare real estate profiles and editorial pieces without the need for real estate agents or auctioneers to breach provisions preventing disclosure of price guides for auction properties. "Prohibiting agents from giving a price guide indication for auction properties, or properties for sale without a price, also creates a level playing field for the industry.” It’s unclear at this stage what “market information” entails. 
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COMMISSIONS Price guides aren’t the only form of disclosure to go in Queensland. Agents are now able to charge commissions even when they have a beneficial interest in a property, and will no longer have to disclose that commission to buyers. There is no cap on the commissions received, an issue which some believe may have an inflationary impact on prices. Labor MP Desley Scott said that: “It is preposterous to suggest that the commission being paid by the seller to the agent will have no impact on the buyer. It has the potential to make a significant difference in the contract price of a property. Where the contract price is distorted by a highly inflated commission, the buyer has no way of knowing what the real value of the property is. Transparency is paramount.” 
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CHANGES TO LICENSES The new legislation removes the requirement for property developers and their employees to be licensed. Until now, property developers in Queensland were the only in the country who were required to hold a license. Bleijie claims that this move will reduce red tape in the industry, removing barriers to entry to the property developer market and stimulate the economy. As the Property Agents and Motor Dealers Act has now been split, those who auction real estate will carry a different license to those selling other forms of property. The changes mean that anyone who auctions real estate and other asserts will have to hold two licenses. 
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USE OF LAND DISCLOSURE Under the Property Agents and Motor Dealers Act, agents had to notify a buyer if the land they were considering could not be used for residential development. That provision has been removed, meaning that sellers and agents are not required to tell a buyer, pre-contract, that the piece of land they are about to purchase cannot lawfully be developed for residential purposes. That means it's up to buyers who are considering residential development to investigate council requirements themselves before signing their contract.
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Five things to know about Queensland’s property reforms

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Northern Perth’s Joondalup region is adjusting to the moderating market of the city.
The northern beaches Joondalup region includes Burns Beach, Edgewater, Joondalup, Connolly, Heathridge, Kinroos, Currambine, Iluka and Ocean Reef. The suburb of Joondalup itself acts as a hub to Perth’s outer northern suburbs.
The push to establish Joondalup as an urban centre extends back to 1970, with the Corridor Plan for Perth. A number of retail and transport infrastructure initiatives have been implemented around the area in the past 40 years to facilitate urban development and direct activity to Joondalup. Joondalup was highlighted in the West Australian state government’s Directions 2031 strategy as one of two primary centres in the Perth metropolitan area, along with Rockingham.
The area’s CBD has a strong retail focus and has seen considerable residential development in recent years, with a relatively high density of townhouses and apartments. With the presence of Edith Cowan University, a healthy retail and entertainment district, established parks and in close proximity to the beach and Lake Joondalup, the area has attracted demand from the middle class lifestyle market.
The greater region of Joondalup had a median house price of $588,750 in March, while units in the area sold for a median price of $415,000. A <a href="https://www.realestate.com.au/property-apartment-wa-joondalup-115477939" target="_blank">two bedroom Joondalup apartment</a> in the block pictured below sold for $408,000 in February.
<img src="/images/2014/05/07/joondalup%20unit.jpg" width="800" height="600">
According to Australian Property Monitors senior economist Andrew Wilson, Joondalup’s appeal to middle income earners has lent the area some resilience against the changes seen in Perth’s market.
“Joondalup is in the middle price range area,” said Wilson.
“There’s a bit of a lifestyle market there. With all the new developments that have been established in that area, we’re seeing middle price bracket, executive type buyers.
“Because of that nature of the market, it tends to be quite resilient. The big picture is that Perth is moderating. The latest data shows that Perth’s market has plateaued.
“We’re seeing quite a significant upward shift in unemployment in Perth, which has moderated lately.”
According to data from the Real Estate Institute of Western Australia, listings in Joondalup and the neighbouring Wanneroo <a href="/news/wa/perth-vacancies-highest-in-years-rentals-on-market-56-up-on-2013">jumped earlier this year</a>, up 28% in the March quarter from December.
Despite Joondalup’s relative strength, its property market must still deal with exposure to Perth’s labour market, said Wilson.
“The Perth labour market has seen some difficulties with absorbing eastern state migration, which saw rents get pushed up quite sharply in some suburbs of Perth. Perth prices rose 10% last year, and with rising unemployment, we’re starting to see some affordability issues.
“And the lifestyle market can certainly be affected by job security and affordability issues. But as the economy does pick up and absorb that unemployment, incomes will grow.”
The slowing mining sector in Western Australia has seen a shift in focus for the region, with the city of Joondalup launching new initiatives to market the region as Perth’s “knowledge capital”. How well the region responds to the state’s shifting economy remains to be seen, but strong infrastructure investment in the area in the past and extending into the future ensures that it will remain a significant urban centre for Perth’s northern corridor.
Photo courtesy of Wikipedia/Creative Commons.
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Suburb spotlight: Joondalup adjusting to moderating market

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The strong run enjoyed by Melbourne’s property market has given the Victorian Coalition a big leg up for the 2014-15 budget.
In the state budget papers released yesterday, the Department of Treasury and Finance stated that land tax and land transfer duty will be key drivers for the 7.2% increase in tax revenue expected for 2014-15.
With the latest land revaluation cycle covering 2012-2014, the increase in Melbourne land values over the last year has provided a push for land tax revenue. Earnings from land tax are expected to increase by 16.9% in 2014-15 to $1.90 billion.
Stamp duty also makes up a significant proportion of overall revenue, with land turnover set to contribute $4.44 billion to the total $18.07 billion of tax revenue. Following last year’s sharp increase in transfer duty, the Department of Treasury and Finance has forecast moderate 6.0% per annum growth in forward estimates, with $5.29 billion in land transfer taxation revenue estimated for 2017-18.
A total of $7.47 billion in property tax revenue has been estimated for this year’s budget, including a <a href="/expert-insights/investing/victoria-s-budget-new-tax-for-1-million-property-projects-to-fund-plan-melbourne-scheme">new tax on planning permits for properties</a> valued over $1 million. 
An increase in transport infrastructure spending has been the main focus in the election year state budget. The Napthine government has earmarked $11 billion for the Melbourne Rail Link which is set to connect South Yarra to the Melbourne Airport via underground stations at Domain and Fisherman’s Bend.
 
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Victoria’s budget: O’Brien’s infrastructure spend boosted by revenue from property

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A new levy on planning permit application fees will fund the Victorian government’s $62.8 million commitment to the Metropolitan Planning Authority (MPA).
The Plan Melbourne strategy was drafted by the Coalition government in October last year. Plan Melbourne’s initiatives include accelerated investment in metropolitan hubs and outer growth areas, strategies to facilitate the supply of affordable housing and transport infrastructure investment.
The Victorian government will provide $51.6 million over four years to the Metropolitan Planning Authority to implement Plan Melbourne, which has not yet been finalised.
An additional $11.2 million will be provided over four years to fund short term actions including the delivery of major urban renewal sites and a local “pocket park” fund. The government has also committed cash for a “20 minute neighbourhood” fund. The <a href="https://blogs.crikey.com.au/theurbanist/2013/12/11/the-20-minute-neighbourhood-does-it-make-sense/" target="_blank">20 minute neighbourhood strategy</a> aims to see retail, job, education and recreation precincts within 20 minutes travel time of every home, with a strong focus on non-car transport.
The spending commitment will be funded by new planning permit application fee tax for projects worth more than $1 million. The levy is forecast to raise an estimated $17.1 million per year. To be introduced on 1 July 2015, it is estimated that the levy will be charged to approximately 6% of all planning permits.
According to Minister for Planning Matthew Guy, the increased levy costs would be offset by the benefits of the new planning system.
“Developers face millions in land holding costs every week across Victoria. A fully funded MPA will reduce overall development costs over time by bringing land to market earlier,” said Guy, who claimed that the funding will help drive job creation and investment opportunities.
“Plan Melbourne supports the Coalition government’s commitment to building a stronger Victorian economy by working with development industry to create more jobs right across the State,” said Guy.
“This funding is an important boost for jobs and productivity, by helping the growth and development of significant employment hubs across the metropolitan area and driving the expansion of the central city.
“It will kick start the major employment clusters at Monash, Latrobe, Sunshine and Fishermans Bend, urban renewal a framework for expanding the central city and a metropolitan-wide open space strategy, to promote growth and investment, further increasing their attraction as great mixed use places for businesses, workers and new residents.
“These job centres are a fundamental principle of Plan Melbourne, our new plan for the city, and they mean more jobs and services in Melbourne’s middle and outer suburbs,” he said.
Planning will also begin for urban renewal areas at Cremorne and Collingwood, and along railway corridors from Huntingdale to Dandenong, Brunswick to Batman, and North Richmond to Victoria Park, according to Guy.
“Unlocking land opportunities across Victoria and expanding our central city and urban renewal areas will not only deliver more jobs, more housing and transport options, it will be a major boost for the State’s productivity and economic growth over the next 50 years,” said Guy.
The Victorian branch of the Property Council of Australia has criticised the Victorian government's new property tax despite supporting the increased infrastructure investment, with deputy executive director Asher Judah claiming that the government has an "unhealthy addiction to property taxation."
"The Property Council will vigorously oppose the introduction of a new $17.1 million tax on apartment buyers to fund the activities of the new Metropolitan Planning Authoirty," said Judah.
"While we welcome the increase in funding for the MPA, a government projecting multi-billion surpluses shouldn’t be introducing new property taxes. This action combined with the 2013 expansion of the Congestion Levy exposes a Government with an unhealthy addiction to property taxation.
"Property owners across Victoria will also be uneasy about the government’s plans for new taxes via asset value capture mechanisms (AVC). AVC already exists in the form of land tax and local council rates. Any move by the government to triple tax property value uplift will face fierce opposition from the industry.
"Over the next four years, tax revenue sourced from property will increase by over $2.3 billion. Increases in Stamp Duty, Land Tax, Fire Services Property Levy and the Car Parking Levy each reflect a growing and unhealthy addiction to property taxation."
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Victoria’s budget: New tax for $1 million property projects to fund Plan Melbourne scheme

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The Reserve Bank has kept the cash rate at a record low of 2.5% for another month. 
Today’s decision marks another month of historic lows for Australia’s interest rates, while many speculate that the Reserve Bank will move to increase rates by the end of the year as price growth stabilises and housing construction expands.
Reserve Bank governer <a href="/expert-insights/finance/strong-expansion-in-housing-construction-expected-rba-governor-glenn-stevens">Glenn Stevens said of today's decision</a>, "financial conditions overall remain very accommodative. Long-term interest rates and most risk spreads remain low. Equity and credit markets are well placed to provide adequate funding."
"In Australia, the economy grew at a below-trend pace in 2013. Recent information suggests moderate growth is occurring in consumer demand and foreshadows a strong expansion in housing construction. Some indicators of business conditions and confidence have improved from a year ago and exports are rising. But at the same time, resources sector investment spending is set to decline significantly and, at this stage, signs of improvement in investment intentions in other sectors are only tentative, as firms wait for more evidence of improved conditions before committing to expansion plans. Public spending is scheduled to be subdued," he said.
Australians can expect interest rate stability in the current inflationary climate.
"Looking ahead, continued accommodative monetary policy should provide support to demand, and help growth to strengthen over time. Inflation is expected to be consistent with the 2–3 per cent target over the next two years," said Stevens.
"In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates." 
Michelle Hutchinson, money expert at comparison website finder.com.au, says that a drop in the cash rate is unlikely in the near future.
"While the <a href="https://finder.com.au">finder.com.au</a> Monthly Reserve Bank Survey found all 12 leading economists and money experts were correct with their prediction of no rate change today, most are expecting to see the cash rate rise by the end of the year or next year,” she said. According to Hutchinson, the current interest rate climate has seen some lenders fail to pass on rate cuts to borrowers.
"With no more rate drops on the cards, we found that lenders have kept on average 0.24 percentage points since rates began to fall in November 2011 by not always passing on the full cuts to their customers,” said Hutchinson.
LJ Hooker deputy chairman L Janusz Hooker predicts that a rate increase by the Reserve Bank could be as far away as December.
“There is still a chronic shortage of housing in areas such as Sydney and with this simple supply and demand imbalance continuing, it’s hard to see how the bottom can drop out of the market,” said Hooker.
Low interest rates have seen housing construction approvals pick up in many markets, while residential sales are strengthening in Hobart and even Adelaide, despite concerns about unemployment.
“Sensible buyers are factoring in future rate increases when doing their calculations but I also think there is an acceptance that the rate of growth the market has been enjoying will slow down,” he said.
According to RP Data national research director Tim Lawless, the latest housing market results showed that capital gains across the nation’s housing markets were slowing to more sustainable levels, which would have provided the RBA with some comfort.
“The April results showed a slowdown in dwelling value appreciation, up just 0.3% over the month, which is likely to be a welcome result after such previously strong conditions,” said Lawless.
“The ongoing low interest rate environment is likely to encourage higher levels of housing market activity which provides a fantastic multiplier for the Australian economy; however we anticipate that natural affordability barriers and low rental yields will continue to dampen the exuberance that has been very much evident in Sydney and Melbourne,” he said.
<img src="/images/2014/05/06/quotes-may-6-on.jpg" alt="">
 Source: Finder.com.au
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RBA leaves interest rates on hold as housing price growth slows

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Over the next 40 years, Australians aged over 65 will make up over 25% of the population, according to the Treasury’s 2010 Intergenerational Report.
With baby boomers set to drive demand for retirement housing, specialist property developer Halcyon has launched two new Queensland developments aimed at the over 50s market.
Halcyon engaged Brisbane based design firm DC8Studio to help tailor Halcyon Glades at Caboolture and Vision by Halcyon at Hope Island to the needs of the retirees.
<img src="/images/2014/05/06/Riccardo%20Rizzali%20DC8Studio.jpg" alt="">
According to DC8Studio director Riccardo Rizzalli (pictured above), Halcyon’s target market are retirees who are looking to maintain an active lifestyle.
 “The people who come to live in Halcyon communities are forward thinking in their approach to retirement living,” he said.
“That is to say, they are very active people, who are looking forward to a happy and healthy life post working.
“There is a term that is used often, that these baby boomers aren't retiring they are ‘retreading’.
“This is really a beginning of a new journey for home owners and this was strongly reflected in our design brief.”
A report released in April by housing company Lifestyle Communities showed that although half of those surveyed were reliant on the sale of their family home to sustain their current lifestyle, there was a lack of suitable stock to facilitate post-retirement downsizing.
Halcyon joint managing director Bevan Geissmann said that maintaining a high quality of life post retirement was an important focus for the company.
“The downsizing process involves freeing up capital for retirees to spend on recreational pursuits or general living expenses,” said Geissmann.
“But today’s baby boomers have high expectations of their retirement lifestyle, so location and design of the home are both vitally important.
“As a developer of over 50s communities our focus weighs heavily on these aspects.
“It’s why we invest a lot of time into researching market trends, finding the right sites, developing masterplans and creating homes that respond to the needs of modern seniors.”
Glades at Caboolture (pictured below) is the company’s most affordable development to date. The 178 home community will include a variety of recreational facilities, including a swimming pool and gymnasium, a cinema, library, bowling green, tennis court and recreation centre. Prices range from $335,000 to $467,500.
<img src="/images/2014/05/06/Halcyon%20Galdes%20street%20scape.jpg" alt="">
At the opposite end of the price spectrum, Vision by Halcyon (pictured below) is being marketed as a luxury development, with 88 homes, a 52 berth marina and a lifestyle and aquatic precinct. Homes at Vision are priced from $559,000 with the most expensive property available at $1.25 million.
<img src="/images/2014/05/06/halcyon-may-6-breakout.jpg" alt="">
More on Halcyon: 
<a href="/expert-insights/building/gold-coasts-60-million-vision-by-halcyon-targeting-over-50-downsizers">Gold Coast's $60 million Vision by Halcyon targeting over-50 downsizers</a>
 
 
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Halcyon launches two new developments for over 50s market

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In the current low interest rate climate, many first home buyers may be confused about the best option for their first home loan.
Choosing your home loan means striking a balance between your varying priorities. Are you after low fees? Or are you more interested in being able to capitalise on interest rate cuts? Maybe you’re happy to pay a bit extra now for protection against future rate hikes.
To help you with the daunting task of choosing your first home loan, Property Observer has four key tips:
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THINK LONG TERM Be prepared for your life circumstances to change over the course of your mortgage. You may be employed full time with a steady income, but there are lots of things that can affect your ability to make repayments further down the line. Babies, break ups and getting the boot at work can all make a serious dent in your financial plans. Think realistically about your life five or 10 years down the track, because you are about to make one of the biggest financial commitments of your life. 
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FINANCE FIRST Before you’ve found your dream home, work on finding your dream mortgage. Speak to a mortgage broker prior to purchasing a home and look into securing a home loan pre-approval – while it isn’t a total guarantee that you will be able to finance your house, it’s as close as you’ll get. Getting pre-approval can help real estate agents take you seriously and give you an idea of your budgetary constraints. 
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VARIABLE OR FIXED? With interest rates at a record lows, fixed rates have definite benefits. A fixed rate mortgage will lock your interest rate in and protect you from future rates hikes for a set period, usually three years. Fixed rates are also generally at competitive levels at the moment. However, there are many other factors beyond interest rates will determine what the best loan is for you. You may benefit from low monthly fees, a flexible loan arrangement or discounts for bundling your accounts with a single lender. Don't be afraid to shop around. A good mortgage broker will help you decide what is best for you. Once you’ve decided on a loan, it’s wise to revisit your loan with your broker on a yearly basis to see if it’s still the best arrangement for you. 
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KNOW YOURSELF Choosing the best home loan is all about full disclosure and being honest with yourself about your finances. Many lenders offer loan repayment calculators that will help you determine how much you can afford to pay each month. While frugality generally pays, you may find that you just can't live comfortably without a certain level of extra spending money each month, so leave yourself a little room to move if you can. And remember, your financial decisions will determine what loans you have access to, especially now that your credit history includes more detailed information including when you pay your bills. </li>
</ol>
Shopping for your first home is an exciting time, and it's hard to reserve quite the same amount of enthusiasm for mortgage shopping. But taking the time to choose the right home loan can save you a lot of time and a lot of money down the track.
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First home buyers: four tips for choosing a home loan

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A system error contributed to a series of incorrect investment income payments to NAB Wealth investors between 2006 and 2012.
After paying $1.9 million in compensation to around 43,000 customers in 2012, NAB Wealth has identified that further refunds are required to adequately compensate impacted customers.
NAB Wealth has also appointed PricewaterhouseCoopers to review the matter, at the request of the Australian Securities and Investment Commission (ASIC). The firm will look into the compensation already paid, NAB Wealth’s operating systems and the company’s breach identification and management processes.
The superannuation funds affected by the errors are MLC Superannuation Fund, DPM Retirement Service and Premium Choice Retirement Service. Investor directed portfolio services MLC Navigation Investment Plan, DPM Investment Service and PremiumChoice Investment Service were also affected.
ASIC has told NAB Wealth customers that they do not need to lodge claims for compensation as affected customers have already been or will be identified and offered compensation. 
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Investor alert: NAB Wealth to refund investors after payment errors

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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.

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.

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[smartcode_project_cta:default project_id=152737]

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Jessie Richardson

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