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Brisbane-based firm Resolution Research says it stands by its 2011 census-derived research that households in Dutton Park, just south of the Brisbane CBD, are spending more than half (54%) of their income on repaying their mortgage and is thus has the highest level of mortgage stress in inner Brisbane.
The research used 2011 census data to compare weekly household income with monthly mortgage repayments to determine what percentage was going to paying off the home loan.
<a target="_blank" href="/news">Dutton Park topped the list</a>, followed by <a target="_blank" href="/news">West End </a>(44%) and then <a target="_blank" href="/news">Woolloongabba </a>(41%).
However Michael Matusik, director of property advisory firm Matusik Property Insights, rubbished the research. In a <a target="_blank" href="https://matusikmissive.com.au/2012/10/24/wrong/">lengthy rebuttal article on his website</a> he said that census data revealed that the ratio of mortgage payments to household income in Dutton Park averaged just 17%, meaning very little mortgage stress in the suburb.
“We stand by our analysis, which was correct at the time of the 2011 census,” Diana Howes, managing director of Resolution Research, tells Property Observer.
“We have reviewed the alternative methodology put forward [from Michael Matusik] and state as follows:
“'Our analysis has been thorough and correct at the time of the 2011 census, we have employed a methodology which has demonstrated itself to be accurate.  As with all economic data there are always varying opinions by analysts relative to outcomes.  We support our work and also the views of our peers.”
Howes directed Property Observer to the following page of census data, which shows the median <a target="_blank" href="https://www.propertyobserver.com.au/https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/quickstat/305011187?opendocument&amp;navpos=220">weekly household income at $989 and median monthly mortgage repayments of $2,167</a>.
Property Observer notes that on the same census 2011 data page, the data shows that only 3.8% of <a target="_blank" href="/news">Dutton Park</a> household have mortgage payments that are 30% or more of household income – the common definition of mortgage stress.
According to Matusik's calculations the average household income of a mortgage holder in Dutton Park is “$2,920 and not $989 as suggested, meaning that the real mortgage to relevant household income ratio is just 17%”.
“You have to dig deeper than the headline results to find the correct answers,” he said.
“It takes a lot of effort to scroll down from page one to page six of the seven pages of the 2011 Census QuickStats to find out the tenure profile and proportion of rent/mortgage paid by households in each location.
“It does actually take some time to then visit the expanded community profile, and to visit tables X14 to X16 to work out the actual household incomes for those paying a mortgage in each location."


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He provided Property Observer with the following explanation for how he obtained the $2,920 income figure, referencing the <a target="_blank" href="https://www.propertyobserver.com.au/https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/communityprofile/305011187">more detailed Dutton Park community profile tables</a>
"Dutton Park, Brisbane
<ul>
<li>584 private occupied dwellings</li>
<li>$989 weekly household income or $51,428 per annum</li>
<li>$2,167 monthly mortgage or $26,004 in annual mortgage payments</li>
<li>Divide $26,000/$51,500 = 51% - this is what Resolution have done</li>
</ul>
<ul>
<li>BUT 81% of households don’t have a mortgage</li>
<li>336 rent – 58% of households</li>
<li>121 own, but have paid out the mortgage – 21% households</li>
<li>109 pay a mortgage – 19% IT IS THIS 109 HOUSEHOLDS THAT WE ARE INTERESTED IN, I.E WHAT THEIR WEEKLY INCOME IS</li>
</ul>
<ul>
<li>The table below is how one works out income by tenure or household types – it is sourced from tables X14, X15 and X16 as per missive – you have to work out the weighted average incomes yourself.</li>
</ul>
<ul>
<li>By doing so you find that the 109 households that have a mortgage in Dutton Park earn on average about $2,920 per week, or $152,000 per annum.  This equates to about a 17% mortgage to relevant income level."</li>
</ul>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/11/dpark.gif"><img src="/images/stories/2012/11/dparkthumb.gif"></a>
Source: ABS
Matusik claims that just by looking at the existing housing and cars in the driveways in Dutton Park, you can tell that home owners are “earning incomes well into triple figures”.
“But if you never go outside the 2011 census also tells you that 96% of households with a mortgage in Dutton Park pay less than 30% of their income towards a mortgage.”
Matusik has since provide fresh commentary on the Dutton Park research with<a href="https://matusikmissive.com.au/2012/11/21/for-the-record-2/" target="_blank"> this posting on his website</a>, which says that his assertions are not a matter of opinion but "plain fact".
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Dutton Park mortgage stress debate continues as Resolution Research stands by figures

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American frozen yoghurt chain Tutti Frutti has leased space in the Target Centre at 236 Bourke Street adding to the mini-explosion of frozen yoghurt and ice-cream chains taking up leasing space in the Melbourne CBD and inner suburbs over the past year.
The Tutti Frutti lease is also part of a wider trend of take-away shops, cafés and restaurants claiming a bigger share of the Melbourne CBD retail mix as clothing retailers struggle.
According to Knight Frank, the number of cafés and restaurants in the CBD has risen from 796 to 1,193 over the past 10 years with the trend driven by larger premises being subdivided into smaller spaces better suited to food operators as well as their being greater demand due to their being more residential dwellers in the city.
CBRE estimates that food operators make up more than a quarter (27%) of the CBD tenancy mix with the hotspots being Bourke Street, Swanston Street, the Degraves Street arcade and Melbourne Central shopping centre.
Adding to the growing pie of food operators, Australand recently announced the list of retailers secured for its 357 Collins Street development, which is nearing completion.
Seven out of the eight are food outlets including Italian fresh pasta and pizza chain Vapiano (which will occupy the largest retail tenancy of 800 square metres), trendy hamburger joint huxtaburger, Vietnamese eatery Roll’d: Asian cuisine specialist O’Bento, sandwich retailers Nashi and Basic Bites and Thai takeaway restaurant Rock the Wok.
Tutti Frutti's lease covers a 45 square metre shop at an annual rental of $2,000 per square metre over five years.
The lease was negotiated by the CBRE retail services team of Zelman Ainsworth and Max Cookes. "Our team has been working with a significant number of popular frozen yoghurt retailers that have requirements to open new stores within some of Melbourne’s most popular retail precincts before the summer,” says Ainsworth.
Earlier this year organic frozen yoghurt and café chain Cacao Green leased two new shops at 235 Bourke Street and 835 Burke Road in Camberwell. American ice cream chain Ben and Jerry’s secured its first retail location in Victoria at 166 Chapel Street, Windsor while another American dairy dessert chain Tasti D-Lites securing their first store in Victoria at 450 Chapel Street, South Yarra. Australian-based frozen yoghurt bar Igloo Zoo leasing a new store in the Chadstone shopping centre while another Australian owned and operated frozen yoghurt concept Yo Chi opening its first store at 292 Carlisle Street, Balaclava.  “There are a number of new and existing exciting food concepts that have been expanding over the 24 months which have proven to be resilient despite reports of difficulties in the retail market,” says Cookes.
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Melbourne going Tutti Frutti for take-away foodie tenants

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The Australian Tax Office (ATO) is warning trustees of self-managed superannuation funds (SMSFs) to be cautious when investing in property.
Its warned arrangements that are “deliberately entered into to get around the law” can result in the fund's trustees being disqualified, facing civil penalties and even criminal charges.
The ATO has also joined ASIC by warning of those individuals and companies promoting property investments to SMSF trustees.
<a target="_blank" href="/news">Last week ASIC</a> revealed to The Australian that it is undertaking “limited surveillance” of financial advisers and accountants over concerns that property spruikers are encouraging investors to set up self-managed super funds purely as vehicles for "dodgy" property investments.
Acting tax commissioner Bruce Quigley says he is concerned people are using their SMSF to invest in property without fully understanding their obligations under the law or some people are seeking to take advantage of certain types of arrangements.
 "We have observed that some arrangements are deliberately entered into to get around the law, which can result in the fund's trustees being disqualified, facing civil penalties or even facing criminal charges.
“Those marketing properties to SMSF trustees as part of such arrangements could be referred to ASIC,” he says.
Quigley says investing in property can be a confusing area for some people.
"The fine details are important and trustees need to be sure that property is the right investment for their SMSF and that the arrangement is legal,"
"We have also seen instances where holding trusts have not even been established at the time the contracts to acquire are signed.
“In other instances the title of the property is held in the individual's name rather than the trustee of the holding trust. Another common mistake is gearing in a related unit trust, which is not allowed under the law," he says.
"Some of these arrangements, if structured incorrectly, cannot simply be restructured or rectified. The only option may be to unwind the arrangement which could involve forced sale of assets at an inconvenient time. This could be very expensive for the fund with potential stamp duty and tax consequences."
"I urge trustees to get reliable, independent advice when making investment decisions and to obtain advice from us if they are contemplating entering into these sorts of arrangements. The responsibility for ensuring their SMSF complies with the law rests with them," says Quigley.
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Australian Tax Office joins ASIC by warning SMSF trustees on illegal property investment arrangements

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A higher-than-expected rise in inflation over the September quarter and an unexpected pick up in new dwelling prices were among the reason the RBA left the cash rate unchanged at 3.25% on Melbourne Cup Day, minutes of the November monetary policy meeting show.
However, an easing bias remains firmly in place, with RBA minutes revealing that members “considered that further easing may be appropriate in the period ahead” but preferred to hold, with “earlier rate cuts continuing to work their way through the economy and “further effects of these changes” yet to be observed.
HIA economist Geordan Murray tells Property Observer the statement that "new dwelling prices had picked up unexpectedly" refers to rising prices for new dwellings "in the context of a discussion of broader inflation".
"Therefore the comment is likely to be a reference to the 'new dwelling purchased by owner-occupier' item of CPI – a sub-component of the housing component of CPI," he says, reflecting "movements in the price of new homes (excluding land) and major improvements to existing homes".
"In the September 2012 quarter this component increased by only 0.9%t (up by 1.2% over the year). Similar movements were observed in the Producer Price Index for materials used in home building and the Project Home Price Index," the minutes say.
The minutes show that with "prices data for the September quarter slightly higher than expected and recent information on the world economy slightly more positive, the board judged that the stance of monetary policy was appropriate for the time being".
As with the post-decision statement by RBA governor Glenn Stevens on November 6, the minutes note signs of improvement in the housing market.
"There were tentative indications that housing activity may be reaching a turning point. Over recent months, the number of private residential building approvals had increased, as had dwelling prices, and auction clearance rates in Sydney and Melbourne had continued to rise," say the minutes.
The RBA also notes that most lenders have passed on 20 basis points in rate cuts to borrowers following the 25-basis-point cash rate cut decision in October, but also that lenders have a greater reliance on retail deposits.
"The average interest rate on outstanding housing loans was now about 75 basis points below the post-1996 average, while rates on small and large business loans were 75 and125 basis points below average. Competition for deposits remained strong, with deposit funding accounting for more than half of total bank funding," says the RBA.
The minutes record that the rise in new dwelling prices, grocery prices and health prices were partly offset by a "softening in the inflation of rents in the quarter and subdued rises in the prices of a range of market services".
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Unexpected pick-up in new dwelling prices among reasons for November rate hold, but easing bias remains: RBA minutes

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Property investors with small budgets should consider investing in larger regional towns where prices are more affordable, but “avoid one-industry conurbations such as mining or resort towns” according to investment advisor Monique Sasson Wakelin.
In her latest blog post, Monique Sasson Wakelin says a regional town investment may be an option for prospective investors whose budgets don’t stretch to the $350,000 threshold that will buy “an entry level investment grade one bedroom apartment in an inner suburb of most of our capital cities, with a little more required in Melbourne and a fair amount more in Sydney”.
She says investors should consider regional cities that have a larger population and a diverse range of economic activity.
Sasson Wakelin says good regional options for budget-conscious investors are Newcastle and Wollongong in NSW and Geelong, Ballarat, and Bendigo in Victoria.
However, there are risks with investing in regional towns while the returns may not match those attainable in the bigger capital city markets.
“Be aware that due to the compromise in location, you are unlikely to attain the capital growth in a regional city that you can expect from the capital,” says Sasson Wakelin.
“The aim should therefore be to pay off debt quickly. With the acquired equity, you can then use this first property as a stepping stone into a capital city market.”
Investors should focus on property close to the town’s CBD, often within 1 kilometre of centre.
“A word of warning. It is much easier to pick a quality asset in a capital city than in a regional centre.
“Follow the fundamentals for inner suburban investment and the risk is low. An investment in a regional town is far more problematic,” she says.
Investors trying to weigh up whether to stick with the city or consider a more affordable regional investment option next year should sign up for <a href="/news">Property Observer’s free webinar with Terry Ryder: Regions versus capital cities - where to invest in 2013?</a> The webinar takes place on December 6 at 12.30.
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Regional towns a budget property investment option but avoid one-industry mining towns: Monique Sasson Wakelin

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The Sydney rental market tightened noticeably over October, with the vacancy rate falling 0.6 percentage points to 1.9%, according to the latest Real Estate Institute of NSW (REINSW) vacancy rate survey.
It was the second consecutive month that the Sydney vacancy rate has tightened after the middle and outer suburbs reached a balanced market position of 3% in August.
The vacancy rate is tightest in the inner-city suburbs (within five kilometres of the CBD), where the vacancy rate fell by 0.3 percentage points to just 1.6%.
However, the rental market is also tight in the middle suburbs (2.1%) and outer suburbs (2.2%) of Sydney, which recorded greater falls of 0.7 and 0.8 percentage points respectively, indicating a growing number of people seeking more affordable rental accommodation further out of the city.
In contrast the vacancy rate eased in the major regional rental markets – the Hunter and the Illawarra – though both still favour landlords over tenants.
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The Newcastle vacancy rate rose slightly from 1.4% to 1.6% but remains as tight as the inner-Sydney market.
The rental situation in Wollongong eased markedly over October from 2.1% to 2.6% but is still well below the 3.4% vacancy rate in August.
REINSW president Christian Payne says that despite recent increases in some areas, “tenants will find it difficult to secure a property in the foreseeable future”.
“The government needs to incentivise investment in this critical area as a way to tackle the rental crisis that is now entrenched in NSW. “Action is required to stimulate investment in the residential property market. Until we see such action, there will be continue to be growing numbers of people competing for a smaller number of properties.”
Across NSW, <a target="_blank" href="/news">Coffs Harbour</a> had the highest vacancy rate in NSW at 3.6%, but did experience a fall of 0.1 percentage point fall over October. The vacancy rate almost doubled in rural Murrumbidgee<a target="_blank" href="/news"> </a>from 0.8% to 1.4%, but it remains the area in NSW with the lowest vacancy rate.
The results are based on survey responses covering 137,532 residential rental properties.
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Sydney has entrenched tight rental market crisis but vacancy rate eases in Hunter and Illawarra: REINSW

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Victorian construction industry unions are threatening to quit industry super fund Cbus over its ties with construction giant Grocon.
The unions threatening action include the Construction, Forestry, Mining and Energy Union (CFMEU), which is currently locked in a $10.5 million legal battle with Grocon over its blockade of a number of Melbourne projects in August.
The other union named by the Australian Financial Review is the Electrical Trades Union.
The threats from the unions came just ahead of the Victorian Supreme Court today dismissing the CFMEU's application for a stay of Grocon's damages case against the union and ordered that CFMEU pay Grocon's court costs for the application at the determination of the proceeding.
"Grocon is pleased that its rights to seek a fair reckoning for the CFMEU’s blockades in August and September 2012 remain unhindered," says Grocon spokespeson Michael Zorbas.
The unions have called for a meeting with Cbus chairman (and former Victorian premier) Steve Bracks and Cbus chief executive David Atkin to seek an explanation of the superfund’s ties with Grocon and its ethical standards and policies.
Cbus is the industry super fund for the building and construction industry, but according to the AFR, the unions are considering Brisbane-based BUSSQ Building Super as an alternative.
BUSSQ has around $2 billion in member super funds under management compared, with the $18 billion managed by Cbus.
The CFMEU is represented on the Cbus board with three seats: Rita Mallia,  president, CFMEU Construction and General Division (NSW divisional branch), Dave Noonan, national secretary, CFMEU Construction and Frank O’Grady, assistant national secretary of the CFMEU.
Cbus has a $2 billion property development arm – Cbus Property – which invests large building projects, some of which are being built by Grocon, according to the AFR.
None of the current major commercial projects listed on Cbus Property appear to involve Grocon and the most recent annual report does not include a mention of the building group.
Grocon built the ultra-modern 1 Bligh Street office tower in the Sydney CBD, which was jointly developed and is jointly owned by Cbus Property and Dexus.
Tensions between the CFMEU and Grocon continue to simmer.
The November issue of CFMEU’s Hardchat Express mentions that it won a “significant backpay” for Grocon employees and subcontractors on a project in Footscray after the Victorian Building Industry Disputes Panel found that employees should have been paid $4.10 per hour rather than $3.70 per hour.
The newsletter also mentions that the CFMEU “remains in dispute with Grocon over safety and workplace reps".
“These incidents show how vital it is that the Union continues to fight until  workers on Grocon sites have full safety rights.”
 
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Victorian construction unions threaten to pull super funds from Cbus over ties with Grocon

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Industry super fund AustralianSuper says it is on the “cusp” of rolling out its strategy to double its property investment portfolio to $9 billion over the next four years following the appointment of  a research manager and an investment manager.
Plans to double its property investment holdings were announced by <a target="_blank" href="/news">fund chairwoman Elana Rubin</a> in March this year.
The super fund, one of the largest in Australia with $46 billion in funds under management, has also indicated that it will target acquiring offices and shopping centres.
Its strategy is part of a growing trend for large industry super funds to increase their exposure to direct commercial property investments as a way to diversify their portfolios and offer more choice to their members – and to counter the loss of members who are setting up self-managed super funds, which can acquire property in their own right.
However, unlike another<a target="_blank" href="https://www.propertyobserver.com.au/commercial/super-fund-cbus-mulling-direct-property-investment-for-members/2012111257785"> industry super fund Cbus</a>, which is considering allowing its members to invest directly in property owned and managed by its property subsidiary, AustralianSuper will not get involved in developing new projects.
As part of its rollout of the new strategy, the super fund’s head of property, Jack McGougan, is currently in the process of appointing a research manager and senior investment manager to build and manage new local and international relationships reported the Australian Financial Review.
Their roles will be to ensure that portfolio management decisions are increasingly made in-house while property and asset management will remain mainly out-sourced – the Queensland government’s QIC and unlisted property fund manager ISPT will continue to manage the majority of AustralianSuper's property assets.
The fund will focus on acquiring office and retail assets with a “slight bias” towards super-regional shopping and shopping centres in the CBD.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/new-york-based-blackstone-group-buys-top-ryde-mall-for-%24341-million/2012111957931">Yesterday’s acquisition by Blackstone</a> of the Top Ryde City shopping centre for $341 million would likely be the type of asset sought by the fund.
In the office space, the fund will target premium and A-grade buildings in the capital cities.
For more on where property fits into your wealth-creation portfolio, sign up for our free webinar on <a target="_blank" href="/news">Thursday, November 29 at 12.30.</a>
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AustralianSuper to target offices and shopping centres in quest for $9 billion property portfolio

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Hotels have delivered the best total returns for commercial property investors over the past 12 months to September despite a marked decline over this period due to falling CBD room rates, according to the latest Australian Commercial Property Index compiled by the Property Council of Australia and IPD (Investment Property Databank).
The index tracks the performance of over 1,600 commercial property assets held by unlisted property trusts, REITs and government-owned commercial buildings. Annual total returns for the hotel sector fell by 620 basis points over the year to September, but the sector still continues to outperform offices, retail and industrial assets with an annual total return of 11.4%.
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“The softening was driven by a decline in average room rates across major CBD hotel markets,” says IPD.
The office sector was the most stable sector over the year to September 2012, showing a slight decline of 30 basis points over the year to record a total return of 10.1%, “predominantly caused by weak demand linked to a soft labour market”.  Retail property was the poorest performer of the property sectors, posting a significant decline of 140 basis points over the year to post an annual total return of 8.8%.  “Weakness in returns was driven by ongoing softness in retail spending and general consumption,” says IPD. Industrial sector returns declined moderately by 50 basis points to post an annual total return of 9.8%.  “Industrial property continues to be supported by a strong income yield, which insulates the sector from capital declines,” says IPD. Across all sectors, IPD’s commercial property index generated a total return of 9.7% for the year ending September 2012, with 7.5% of this coming from an income return (predominantly rental income) and 2% from capital growth.  This was slightly lower than the previous quarter’s total annual return of 10% and down on the 10.6% total return achieved for the year to September 2011. Commenting on the latest quarterly results, Peter McGuinness, research manager of IPD in Australia and New Zealand, says below-trend macroeconomic activity has resulted in softer capital growth and lower total return for the broader Australian property market.  “Looking forwards, the market is exposed to downside risk with continued slowing in China and a moderation in the mining boom, which is likely to result in modest growth over the short to medium term. “The core CBD office markets of Sydney and Melbourne have been negatively impacted by sluggish employment growth and weak net take-up of space, translating into weaker capital growth and lower total returns.  “The non-core CBD office markets of Perth and Brisbane are the current outperformers, but with a slowing in the resource sector, both markets are heavily exposed to downside risk. “In the retail sector, super and major regional shopping centres experienced the largest decline in returns as they were negatively impacted by weakness in discretionary spending.  “Conversely, neighbourhood shopping centres, which are anchored by supermarkets, have been supported by stable food retailing. With their high income yield, neighbourhood centres are expected to outperform larger format centres over the next twelve months.”  “The industrial sector continues to offer an attractive yield play for investors seeking a strong income stream. With capital growth across the broader market expedited to remain soft, a competitive income yield makes industrial property an attractive investment option,” says McGuinness
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Declining hotel returns still offers best reward for investors: IPD

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An attractive unoccupied commercial building in the Brisbane coastal suburb of Sandgate dating back to the 1930s has been listed for auction, with price expectations starting from $400,000.
It could fit nicely into the portfolio of a small investor or SMSF portfolio or could appeal to a business looking to own its own premises.
Located at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-loudon-street-sandgate/Property-Details-buy-commercial-4653913">1 Loudon Street</a>, <a target="_blank" href="/news">Sandgate</a>, the 130-square metre property is split over two levels and has previously been host to a bank, a hotel and a boarding house.
<img src="/images/stories/2012/11/loudon.jpg">
It stands at the end of a fork comprising Loudon Street and Seymour Street and is a short walk from the Sandgate train station.
It last sold in 1997 for $200,000 but has remained within the same family.
It has the potential to be occupied or leased as offices or retail premises and comes with three partitioned offices, a boardroom and a reception.
The premises are being marketing by Lawrence Temple and Hudson Dale of Raine &amp; Horne Commercial Brisbane North, who tell Property Observer they have received a significant number of enquiries since the start of November.
The land area is 167 square metres and offers two car spaces.
The property will be auctioned on December 5 at 11am.
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Two-storey 1930s commercial building in Sandgate, Brisbane has $400,000 auction hopes

<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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“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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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.

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[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.

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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.

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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.

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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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Larry Schlesinger

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