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A Dandenong based mortgage broker has agreed to cancel his credit license after concerns from ASIC that he was failing to verify documents.
Parmjit Singh did not verify payslips, bank statements and employment references in support of about 40 loan applications to banks, even though they were of questionable validity.
ASIC was concerned that Singh appeared reckless about potentially false information from prospective buyers about their income and employment statuses, noting that he may not be a “fit and proper person to engage in credit activities.”
Singh has also agreed not to apply for a license or participate in the consumer credit or financial services industries for five years.
According to ASIC deputy chairman Peter Kell, brokers and credit providers have important responsible lending obligations.
“ASIC will take action where it identifies mortgage and finance brokers who knowingly or recklessly submit false loan documents,” said Kell.
Singh is one of several mortgage brokers who ASIC has taken action against in recent months. Other brokers found to have submitted questionable or false information on loan documents include Hyuk Hwang, who was banned from engaging in credit activities for three years after providing false documents to secure a $250,000 loan and Daniel Minh Tuan Nguyen, who has been permanently banned after being <a target="_blank" href="https://www.propertyobserver.com.au/finance/mortgage-broker-convicted-of-providing-banks-false-infor-to-secure-%2475m-of-loans-asic/2013121166888">convicted of providing false documents to secure loans</a> totalling about $3 million.
In January, <a target="_blank" href="https://www.google.com/url?q=https://www.propertyobserver.com.au/news/asic-bans-manager-after-%2432m-of-false-or-misleading-home-loan-applications/2014012267316&amp;sa=U&amp;ei=v9kCU7TUOqSg2AW43YDoDw&amp;ved=0CAYQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNGp2xT2B2i_iwAlP2uuNWb76a3L6Q">ASIC banned Anthony Bergin from engaging in credit activities</a> for three years after his company submitted seven home loan applications, worth a total of $3.2 million, containing false or misleading information.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
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jrichardson-uRX5hFdKfN

Mortgage broker loses credit license after failing to verify documents

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According to a new report released by BIS Shrapnel, New Zealand’s building sector is expected to reach a new peak by the year ending March 2016.
BIS Shrapnel’s Building and Construction in New Zealand 2014-2019 report cites a rebound in Auckland’s housing sector and rebuilds in Canterbury as the driving factors behind growth in the building sector.
Remediation work on leaky homes and schools and earthquake-risk buildings is also contributing to the sector’s recovery, with total building authorisations over the next five years to 2019 forecast to hit NZ$10 billion (A$9.26 billion) in value in 2016 (in constant terms).
“We expect Auckland to experience strong growth in residential construction over most of the next five years,” said Adeline Wong, the report’s author and BIS Shrapnel senior project manager.
“The number of dwelling consents in Auckland is expected to increase from 4,760 in 2012/13 to an estimated 6,350 in 2013/14 and then to around 10,000 by 2017/18.
Wong said building activity should be underpinned by a number of demographic factors.
“Relatively low levels of new residential building in recent years have left a housing shortage, although 2013 Census data indicates this may be less than previously thought,” said Wong.
“Population growth including through immigration, firm economic growth, and relatively low – but rising – interest rates should also support the demand for residential dwellings.
“Auckland’s high house prices are likely to drive first home buyers to settle for cheaper apartment prices in high density living in the inner city. The high density housing sector may thus present an upside over the forecast period – which is in line with Auckland’s Unitary Plan that calls for up to 70 per cent of new dwellings to be built within the current city boundary.”
BIS Shrapnel expects that total annual average valuations will reach NZ$5.85 billion (A$5.4 billion) in constant terms over the next five years.
Reconstruction in Christchurch is likely to provide a major boost to the non-residential building sector over the next five years. However, the report also points to growth in new building and refurbishment activity in the factory, office building and warehouse sectors in New Zealand’s North Island, as leasing activity picks up in response to growth in the domestic and global economy over the next two to three years.
Annual average commercial and industrial building authorisations are forecast in the report to reach an estimated NZ$2.39 billion (A$2.21 billion) in constant terms, 14% higher than the levels seen during 2004-2008’s boom years.
Wong notes that reluctance from owners of properties that are quake damaged or at risk of damage from earthquakes may dampen their outlook.
“The non-residential building sector over the next five years may get an extra lift from potentially wider earthquake strengthening work in office buildings and schools in Wellington in particular,” said Wong.
“However, there is also a downside risk to our forecasts in that the timing and scale of Christchurch reconstruction, and also seismic work in Wellington may not be as expected.
“Some owners of quake-damaged and earthquake-risk properties may not commit to redevelopment in the short term, which would impact the overall outlook.”
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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New Zealand building sector on path for recovery: BIS Shrapnel

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According to new research from Bankwest, Australia's demand for medium density housing is now at its highest recorded level.
The Bankwest Housing Density Report shows that a record 43.4% of total new home approvals in the year to October 2013 were for units, townhouses or semi-detached houses.
The increase in medium density approvals in the last year outstripped approvals of stand alone houses. Medium density approvals were up by 22.9% from the previous year, while stand alone dwelling approvals increased by only 6.5%. Approvals for medium density dwellings increased by 45.9%. In that period, approvals for stand alone houses fell by 8.5%.
<img src="/images/stories/2014/02/17/chart-feb-17-one.gif" width="470" height="242" alt="chart-feb-17-one">
Bankwest executive general manager Mark Reid says the push for medium density houses may be due to demographic changes, in addition to demand from first home buyers.
"Smaller housing options continue to increase in popularity as the population grows and consolidates around Australia’s capital cities," said Reid.
"The increasing popularity of medium density housing is possibly being driven by Australia’s first time home buyers, who are finding it difficult to afford a stand-alone house." According to Reid, the bank's First Time Buyer Report, released last year, showed that first home buyers are able to save for a 20% deposit on a median-priced unit in 3.4 years, while 4.2 years to save for a 20% deposit on a stand alone home. 
<img src="/images/stories/2014/02/17/chart-feb-17-two.gif" width="470" height="264" alt="chart-feb-17-two">
As expected, capital cities accounted for the majority of medium density dwelling approvals, making up 87.1% in the year to October. Approvals for medium density homes in Sydney, Canberra, Darwin, Melbourne and Brisbane made up more than half of all approvals for that year.
Perth was the only capital city in which the proportion of medium density approvals declined, with the report showing that only 20% of total approvals were for medium density homes, down from 22.6% in the year to October 2012.
According to Reid, first home buyers are possibly taking advantage of the comparatively small difference in the time it takes to save for a unit and a house in the state.
“In Western Australia the gap between savings time for a house and for a unit is the smallest of any state in Australia," said Reird.
"It only takes six months longer to save for a house in Perth than it does to save for a unit. It’s possible that buyers are simply holding out for the additional six months in order to save for a stand-alone home instead of a medium density property."
The highest annual increase in medium density approvals was recorded in the ACT, where the proportion of medium density approvals out of total approvals was up 82.7%. Over the same period, Queensland saw the next highest increase, with 53.5%, which was followed by South Australia with 43.4%.
The report points to a long term trend of Australians turning to medium density homes, according to Bankwest. The proportion of medium density home approvals has annually averaged 30.6% since 1985; in the past 10 years the annual average has risen to 34.3%, and in the past two years this figure has increased to 40.1%.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
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Demand for medium density housing at record high

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Sienna Mount Waverley, a 118 lot development on an old quarry site, has sold out its fifth stage of releases, five months after the lots were placed on the market.
The fifth stage, named Jade, is made up of 17 double storey four bedroom houses in the residential community, developed and constructed by Five Squared Property Group on behalf of the Chain Group. Home prices ranged in price from $815,000 to $858,000, with total sales nearing $14 million.
The houses include multiple living zones, outdoor entertaining, SMEG appliances, reconstituted stone benchtops and timber floorboards. All houses come with a remote-access double garage, with no owners’ corporation fees.
According to Ashley Lewish, co-founder of Five Squared Property Group, Mount Waverley’s schools and universities are a major source of demand for residences in the area.
“Mount Waverley Secondary College has become one of the top public high schools in Melbourne, and Sienna is also located close to Wesley College and Deakin University, so a lot of our buyers are families looking to provide their kids a high quality education,” said Lewis.
Sienna is also located minutes from the Monash Freeway and Eastlink, and close to The Glen and Chadstone shopping centres.
Lewis says that the fast sale of Jade indicates that buyer uncertainty is on the decline.
“The positive market conditions for home buyers have also played a huge factor in demand. It has taken us half the time to sell our Jade release than our previous stages.”
“Over the last couple of years, we’ve seen buyers sit tight because of economic uncertainty, which meant it took us anywhere from nine months to a year to sell each release. The response to Jade is clearly a sign that people are feeling comfortable to make a long term investment for their family,” he said.
Sienna is a nine stage development, launched in 2009. The development includes three and four bedroom homes overlooking walking paths and parks. The development’s centerpiece is a lake with a sculptured waterfall and stone wall.
“Sienna has started to really take shape as a community. More than 50 families have already moved in,” said Lewis.
{yoogallery src=[images/stories/2014/02/17/sie2]}
Photos: Construction is underway at Sienna.
Construction on Jade has commenced and is due to be completed in September. Amber, the development’s next release, will comprise 15 four bedroom homes. A limited pre-release of five homes will be launched this week. House prices for the stage will begin at $840,000, with internal living spaces ranging from 218 square metres to 282 square metres.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
 
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Sienna Mount Waverley sells out fifth stage with $14 million in sales

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Australian actor Portia de Rossi is known abroad not only for her turns on Arrested Development and Ally McBeal, but for her property prowess. With wife Ellen DeGeneres, de Rossi made news last month when the couple purchased the Brody House, a Los Angeles mansion designed by renowned architect A Quincy Jones.
The modernist masterpiece (pictured below) was constructed in 1949, with interiors by Billy Haine and Garrett Eckbo. In October last year, the mansion was updated by designer Stephen Stone to prepare it for market. Rumour has it the property, which has six bedrooms, nine baths and is set over a 4,118 square metre estate, was hardly on the market at all before DeGeneres and de Rossi snapped it up for a reported US$39.89 million (A$44.64 million) sum.
{yoogallery src=[images/stories/2014/02/17/ell]}
Photos courtesy of curbed.com
The house was commissioned by the late arts advocate Frances Lasker Brody and her husband, the late Sidney F Brody. After Frances Lasker Brody’s death in 2009, the property was sold for the first time for US$14.88 million (A$16.65 million) in 2010.
Portia de Rossi, legally known as Portia Lee James DeGeneres (born Amanda Lee Rogers), and DeGeneres have been involved in quite a few notable Los Angeles property transactions in recent years. Last year, the couple sold their ranch in Thousand Oaks, California. The 26 acre property was originally listed by the de Rossi and DeGeneres in 2011, with an asking price of US$16.5 million (A$18.5 million). It sat on the market for nine months after being pulled, and was relisted last year.
The eight bedroom, 11 bathroom ranch (pictured below) was <a target="_blank" href="https://www.propertyobserver.com.au/international/ellen-degeneres-and-portia-de-rossi-re-list-horse-ranch-for-%2410995-million/2013082663802">reportedly sold for US$10.95 million</a> (A$12.14 million). According to de Rossi, the ranch’s redesign was handled entirely by DeGeneres. In an interview with Elle Décor, the Geelong native said that the original property was a horse facility, with an unsalvageable main house. “I thought it might take five years for Ellen to finish the project,” she told the magazine. “And she did it in one! It was shocking.”
{yoogallery src=[images/stories/2013/08/aug27thousand]}
A number of other high profile properties have passed through Portia and Ellen’s capable hands. They purchased a US$26.5 million (A$29.45 million) <a target="_blank" href="https://www.propertyobserver.com.au/news/aussies-keeping-us-realtors-busy-olivia-newton-john-portia-de-rossi-and-frank-lowy/2013062661728">13 acre estate in Montecito</a> (pictured below), just outside of California’s Santa Barbara, in May 2013. Known locally as Saladino Villa, the six bedroom, seven bathroom home overlooks the Pacific ocean.
{yoogallery src=[images/stories/2013/06/june27saladino]}
The couple also sold their sprawling Beverly Hills estate (pictured below) in 2012 to US television personality Ryan Seacrest, for a whopping US$49 million (A$54.43 million).
{yoogallery src=[images/stories/EllenandPortia]}
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
 
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Aussie Portia de Rossi and Ellen DeGeneres big players in the California prestige market

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Sydney agent Louise Catherine Sultana has admitted to taking $330,000 from the trusts of Century 21's clients between 2010 and 2012. The 25 year old, who is reportedly pregnant, has been handed an 18 month sentence with a seven month non-parole period in a hearing at Parramatta Local Court on Thursday. 
Sultana converted $208,689 from her company's sales trust account and $55,062 from Century 21's rental trust account. She was also convicted of failing to lodge $66,650 of rental bonds. She was operating under the agency Century 21 Lifestyle Hawkesbury, via BLM Enterprises Pty Ltd located in Windsor, as can be <a target="_blank" href="https://www.fairtrading.nsw.gov.au/biz_res/ftweb/pdfs/About_us/Enforcement_actions_report_Jul_Sep_2013.pdf">seen in Fair Trading's enforcement report</a>. BLM is currently under administration.
Century21 Australasia chairman Charles Tarbey said the company took a proactive approach to addressing Sultana's actions.
"We were party to finding that problem, and we reported it. We assisted the Department of Fair Trading," he said.
"We audit our offices, and there's no level of tolerance for that. And as far as we're concerned, when we found out, we immediately opened up to the authorities any information we could provide, because we operate in real time, and could see all the transactions. And the Department of Fair Trading got everything they needed."
Tarbey said there were multiple practices in place to monitor the accounts of franchisees.
"Because we operate in real time, we can see all their transactions. They also have an obligation to provide us with a full audit. And when we requested one and it wasn't available, that was when the flag went up for us - and when it was requested again, that's when the flag went up again.
"And we said, 'If we don't receive this within, we'll be reporting [the matter] to the Department of Fair Trading."
The Century21 Australasia chairman noted that this was not an isolated incident in the industry.
"It's not the first time - and it's not the first time for my business, either. You see it around the traps.
"A perfectly good franchisee has issues outside of your franchise, and the relationship you have with them in business - you don't know what they do.
"I understand one of the people reported on today, from another franchise group, had a drug and gambling problem. I don't think any franchisor would know that. In fact, I don't think any employer would find that about some of their employees.
"There have been many cases where employees in legal firms, accountancy practices and real estate agencies have defrauded the trust accounts, and it takes an audit to pick it up. And those audits are only legally required annually. So a lot can happen in that period of time."
 
As a result of her actions, Sultana's real estate license has also been cancelled. She has been disqualified by NSW Fair Trading from holding a license or certificate for 10 years, and disqualified from being involved in the direction, management or conduct of the business of a licensee for 10 years. Sultana was formerly the director and company secretary of BLM Enterprises, trading as Century21 Hawkesbury.
The breach was found during a NSW Fair Trading compliance campaign into real estate traders who failed to lodge their auditor's reports for the 2010/2011 financial year. 
Trust accounts are used by agents to hold money on behalf of buyers. They cannot legally be used for a purpose other than to hold funds for the completion of a sale or transaction. According to NSW Fair Trading, disincentives for commiting trust fund fraud have not been high enough. NSW Fair Trading commissioner Rod Stowe told the ABC that the body has recently changed its policies to deal with trust fund fraud more aggressively.
"It was our view that there was not a strong message going to people in that industry that they wouldn't get away with it," Stowe told the ABC. "While we were taking their licences away, we weren't stopping them from making a living."
NSW Fair Trading is now actively seeking criminal prosecution in cases of trust fund fraud, said Stowe.
According to Tarbey, he has a zero tolerance policy for any fraudulent behaviour by employees or franchisees.
"I won't tolerate it. If I see it, hear about it, if anybody even whispers about it - that's it."
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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Pregnant Century 21 agent jailed for 18 months after siphoning $330,000 from trusts

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Construction at the 2,418 square metre site at 177 Pacific Highway in North Sydney has commenced. 
A groundbreaking ceremony was held for the 30 level Leighton Properties development, to be built by Leighton Contractors (artistic impression below). The $413 million, development, with 40,000 square metres of floor space, is set to become the Leighton Group’s new global hub.
<img alt="north-sydney-aug-21-one" height="517" width="470" src="/images/stories/2014/02/19/north-sydney-aug-21-one.gif">
At the ceremony, Leighton Holdings chief executive officer Hamish Tyrwhitt noted the date’s significance for the company.
“This is a great milestone to be celebrating today. For the Leighton Group this is a step towards creating the next generation workspace for our staff - one that fosters collaboration, innovation and performance and is an example of our corporate values,” Tyrwhitt said.
The development will be North Sydney’s first new commercial tower in six years, according to Leighton Properties managing director Mark Gray.
“177 Pacific Highway will add an entirely new dimension to the North Sydney skyline,” he said. “Being the first new ESD rated commercial tower in six years it will provide the market with much-needed A-grade accommodation. It signals an important next step in North Sydney’s continued development as a commercial CBD,” Gray said.
Gray expects that Leighton’s reputation will attract strong demand from commercial tenants.
“We expect the certainty of the completion date, and the commitment and involvement of Leighton, will make this a highly sought-after building for companies wanting to secure a noteworthy address,” said Gray.
10,000 square metres of the building’s top level space is still available for lease, with 76% of the tower’s total space leased by Leighton.
The building was designed by Bates Smart, and is scheduled for completion and occupancy in early 2016. The company is targeting a 5 Green Star and 5 Star NABERS energy rating for the building.
The ground levels of the building will include cafes and retail spaces.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Construction begins at Pacific Highway, North Sydney commercial tower

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Just in case you haven't had the appropriate dose of romance this Valentine's day, Property Observer brings you three holiday rentals that are bound to bring a little loving your way.
Coonawarra Vineyard, South Australia
{yoogallery src=[images/stories/2014/02/14/coo]}
If the soft-focus didn't clue you in, the rose petals in the bathtub transmit the message loud and clear - this rental is all about romance. But in case you still haven't gotten it, the two champagne glasses and the long stemmed roses next to the tub should do the trick.
If you're after a bit of seclusion with your other half, Honeysuckle Lodge certainly looks like the place to get it. If you won't take our word for it, ask the couple casually sipping wine in front of the open fire.
 
Jacaranda at Jambaroo, New South Wales
{yoogallery src=[images/stories/2014/02/14/jam]}
This one bedroom self contained cottage on a rural estate has all the ingredients for a great romantic getaway - seclusion, beautiful landscapes and a great kitchen. And, at the right time of year, we bet that pond would generate some mist worthy of Wuthering Heights. Of course, the rental comes with the requisite red bedding.
 
Reid's Place, Redcliffe, Queensland
{yoogallery src=[images/stories/2014/02/14/red3]}
If there's any lesson to learn this Valentine's Day, it's that nothing says 'I love you' like bathrobes. Thankfully, on this front, Reid's Place delivers. The listing shows couples eating breakfast in bathrobes, eating another meal in their bathrobes, and putting away dishes in bathrobes.
There's even a shot of two bathrobes hanging side by side, just for good measure. All this bathrobe wearing is thankfully explained by two shots of two different (but eerily similar looking) couples enjoying bubble baths at Reid's Place. Only one gets the red petal treatment, but both get to crack into some champagne.
While it might be a little late to book one of these romantic getaways for you and your special someone, keep them in mind for the next time you need to escape for the weekend. And if you're on the other side, and thinking of renting out your property for a short term holiday rental, take a look at our <a href="https://www.propertyobserver.com.au/landlords/holiday-and-short-term-rentals-do-the-finances-stack-up-in-a-real-life-case-study/2014021167712">Airbnb case study</a>.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_parent">jrichardson@propertyobserver.com.au</a>
 
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We'll always have Coonawarra: Three romantic Valentine's Day rentals

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While we at Property Observer occasionally feel giddy over a good property, we try to draw the line at getting romantic about real estate. Clare and Terry Cantwell, of the Property Palace in Queensland, do not.
In their listing for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-karana+downs-116003663">161 College Road, Karana Downs</a> (pictured below), the agents get positively swept away. The listing's opening lines:
BE MY VALENTINE!!! WITH THIS ROMANTIC COTTAGE!!!
Roses are Red, Violets are Blue, this romantic cottage could be for you!!!!
You dont need to go away for a romantic getaway as you can now live it everyday in this immaculate Chalet Style Home right here in Karana Downs!!
{yoogallery src=[images/stories/2014/02/14/kar]}
According to Clare Cantwell, she decided to take advantage of the holiday after viewing the property.
"I looked at it and I thought, the theme of the property is all red and white, it's a lovely cottage, and it's very romantic," she said. "I always think about the time of year [the property will be listed], and when I realised it was Valentine's Day, I thought, 'terrific!'"
Of her marketing strategy, Cantwell said, "It's not dull and boring, and it does grab people's attention. With a property like this, why not?"
While the property itself has plenty of charm, with exposed timber ceilings and a claw-footed bath, our favourite detail on the listing is Clare and Terry's photo (pictured below). The couple, who are both former police officers, are pictured in front of a bright red backdrop, with Terry delivering a truly arresting stare straight out of The Bold and the Beautiful.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="batb-feb-14-one" src="/images/stories/2014/02/14/batb-feb-14-one.jpg" height="333" width="300">
With the property market so often dominated by doom and gloom or nail-biting anxiety, it's nice to see a little bit of love is still in the air. 
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Be mine, dear...Karana Downs cottage?

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The three-bedroom Archibald penthouse in The Residence apartment tower is now on the market through CBRE. The last remaining penthouse in the complex, the 690 square metre Archibald has panoramic views and includes a private pool and spa, a rooftop kitchen and outdoor terraces.
The penthouse was named after Jules Francois Archibald, the Australian journalist who founded The Bulletin. According to CBRE agent Ben Stewart, who is marketing the property with Caroline Fagerlund, the apartment was designed by Sydney-based architectural firm Scott Carver with attention paid to its environmental efficiency.
“This apartment has been designed to the highest environmental standards and demonstrates an intelligent design approach that draws inspiration from the phenomenal beauty of its location,” said Stewart.
{yoogallery src=[images/stories/2013/08/aug28syd]}
Last year, the penthouse adjacent to the Archibald, known as <a href="https://www.propertyobserver.com.au/news/hyde-park-the-residence-penthouse-sale-confirmed-at-%2417-million/2013082764609" target="_blank">the Sulman</a> (pictured above, made headlines when it was purchased for $17 million by an offshore buyer with children who were studying at university in Sydney.
The Residence is located on College Street in Hyde Park and comprises 87 apartments.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
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The Residence in Hyde Park's final penthouse now selling

<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.

&nbsp;

[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.

&nbsp;

[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.

&nbsp;

[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.

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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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Jessie Richardson

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