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Mortgage franchise RAMS has cut its suite of fixed-rate mortgage products, joining parent bank Westpac and fellow subsidiary St.George to announce fixed-rate cuts following last week's RBA cash rate cut.
RAMS has cut its one-year fixed rate by 36 basis points to 5.39% and reduced two-, three-, four- and five-year fixed rates by 10 basis points, with the changes taking effect today.
The RAMS three-year fixed rate now stands at 5.39%, matching the lowest three-year fixed rate offering on Ratecity.com.au – 5.39% from ME Bank.
Greater Building Society offers the lowest one-year fixed rate at 5.29%, according to Ratecity.com.au
A recent RAMS survey found that around two-thirds of first-home buyers intend to take out a fixed interest rate (22%) or split home loan (43%) in the next 12 months.
Earlier this month ME Bank recorded a surge in fixed-rate mortgage applications, which now account for 45% by value of all new applications, up from 14% earlier in the year.
“Fixing your interest rate could be a smart option, allowing customers to lock in the certainty of monthly repayments,” explained RAMS chief executive Melos Sulicich.
“Another option to consider is splitting your home loan between fixed and variable interest rates to make the best of both worlds."
Westpac will also cut its packaged fixed rates from today.
The bank’s one year packaged fixed rate will reduce by 20 basis points to 5.49%, while its three-year packaged fixed rate will fall from 15 basis points to 5.39%.
St George, also a subsidiary of Westpac, cut its fixed-rate mortgage products under its Advantage Package on October 5
It offers a one-year, two-year and three-year fixed rate at 5.39% per annum.
Just before the RBA cash rate decision CUA cut its two- and three-year fixed rate home loan products by 23 basis points to 5.5%.
RAMS will offer a standard variable home loan rate of 6.55% p.a effective from Friday, October 12 – below that of the major banks.
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RAMS joins St George and Westpac by cutting fixed rates

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The challenge posed by online retailing may start to impact on the tenancy mix in the Melbourne CBD, according to property valuation firm Herron Todd White.
In its October commercial property update, HTW notes a “more recent trend has emerged whereby clothing and fashion retailers are being replaced by food stores”.
It cites as on example Malaysian restaurant chain Petaling Street replacing Jays Jays clothing store as the tenant at 162 Swanston Street. Recent Swanston Street leases have been negotiated at around $1,600 per square metre.
The 110-square-metre shop next door at 160 Swanston Street, which formerly housed street wear retailer Crossover, is now vacant and also being marketed with food tenants in mind, including "the opportunity for kerb-side seating subject to planning approval". It is being marketed by Ben Stanley and Tom Ryan of Allard Shelton.
Another example is the Icey Dessert Café, which replaced Shibuya Fashion as the tenant at 231 Elizabeth Street, a 104-square-metre shop. Shops nearby on Elizabeth Street have leased for around $2,800 per square metre recently.
In its July 2012 Melbourne CBD retail report Knight Frank reported that around 30% of shops are leased to food businesses, almost on a par with those leased to clothes and soft goods retailers.
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Knight Frank also notes in this report that fashion and clothing stores are being replaced by “casual food concept” stores such as cafes.
The report also recorded a small increase in vacancies from 2.1% in December 2001 to 2.4% as of June 2012.
According to Knight Frank, "super-prime" rents on Bourke Street Mall range from $7,500 per square metre to $10,000 per square metre.
Prime retail rents range between $2,500 and $5,000 per square metre, while secondary retail rents range between $1,000 and $1,400 per square metre.
In its October report, HTW says that since the start of 2011 the Melbourne retail trading market appears to be undergoing a difficult period.
“Retail spending statistics supplied by the ABS suggests that retail spending is volatile and has been growing below trend for some time.
“Slowing growth in retail spending limits the rental increases payable by tenants and results in increasing vacancy rates and declining retail property values.
However, despite the uncertain retail environment, HTW says the higher vacancy rates have little effect on prime retail areas within the Melbourne CBD.
“Retail strips such as Bourke Street, Swanston Street and Elizabeth Street still have strong investor interest and remain highly sought after.
“It is anticipated that rental rates will remain relatively soft for the coming year due to the marginal increase in empty retail spaces.”
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Food stores replacing fashion retailers as CBD tenants in Melbourne: HTW

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Property investors should take a good look at the remote, historic Queensland outback town of Cloncurry, about 770 kilometres west of Townsville, according to hotspotting.com.au's Terry Ryder.
The town is the birthplace of the Royal Flying Doctors service and maverick independent MP Bob Katter.
Cloncurry is one of just three mining hotspots picked by Ryder – the others being coal seam gas-rich the Galilee Basin (inland from Townsville and Gladstone) and Broken Hill in outback NSW, where there are $7 billion in mining projects.
Ryder's mining town recommendations come with the warning that all mining towns are high-risk property investments – though with the potential for strong gains –  and only suitable for those investors with a high-risk appetite.
In Cloncurry's favour is the fact that it is the focus of a number of mining projects but also has ties to the grazing industry and to outback tourism.
<img src="/images/stories/2012/10/cloncurrymap.jpg">
“Cloncurry is not essentially a mining town, but a regional town of just 3,000 people far north-west Queensland near Mt Isa,” said Ryder in a Property Observer webinar.
“It services the grazing economy around it and the tourism industry, as it is quite a historic town.
“Mines are starting to spring up around it and are entering the construction phase.
“The good thing is they are not iron ore mines or coal mines (where commodity prices have fallen), but copper and zinc mines."
Major mining projects include Xstrata’s $580 million expansion of Ernest Henry mine (named after the founder of Cloncurry), which produces copper, gold and magnetite.
Other mining projects include the Cudeco copper mine just outside Cloncurry, where blast-hole drilling and other pre-blasting activities are now complete, MMG’s Dugald River project – one of the world’s largest and highest grade known undeveloped lead-zinc-silver deposits and Xstrata’s Mt Margaret mine, which will produce around 30,000 tonnes of copper per year over the next five years. 
At the same time a multi-user rail facility is being built to service all those mining companies and due for completion in mid-2014.
 
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The median house price in Cloncurry is around $260,000, making it one of the more affordable mining hotspots.
Ryder points out this is well below the median house price in other mining towns in Queensland, such as Moranbah and Dysart, where the median price is around the $700,000 mark.
“We are potentially going to see growth in prices and rents in Cloncurry as these mining projects create housing demand from those workers involved,” he says.
Houses in Cloncurry are not pretty, but recent sales show the potential for capital gains.
They include <a target="_blank" href="https://www.realestate.com.au/property-house-qld-cloncurry-108078636">this four-bedroom fibre cement house</a> (pictured below), which sold through Elaine Raffin from RealWay Property Consultants Mount Isa for $245,000 in January this year.
<img src="/images/stories/2012/10/burke.jpg">
The property last sold for $130,000 in February 2006.
It is listed for rent at $500 per week a gross yield of 10.6%
Another relatively recent sale was a <a href="https://www.realestate.com.au/property-house-qld-cloncurry-108836946" target="_blank">three-bedroom wood panel house</a> (pictured below) sold by Jean Rutherfurd also from RealWay Property Consultants Mount Isa.
<img src="/images/stories/2012/10/palmer.jpg">
The house sold for $300,000, having been listed between $275,000 and $325,000.
Cloncurry Shire Council sold the 914-square-metre block of land for $21,000 in November 2005.
Assuming rent of around $400 per week would equate to a yield of around 7%.
The majority of 1,300 dwellings in Cloncurry are houses, and two-thirds of these are three and four-bedroom houses according census 2011.
A high percentage – 52% of dwellings in Cloncurry– are rented, with only 22% of residents owning their homes outright.
In 1861 Burke and Wills with King and Gray were the first Europeans to come into the area on their ill-fated expedition to the Gulf of Carpentaria. Burke named the river “Cloncurry” for his cousin, Lady Elizabeth Cloncurry of County Galway in Ireland.
The Australian Aerial Medical Service (known more commonly as the flying doctors) took off on its first flight from Cloncurry on May 15, 1928.
The service made use of a de Havilland DH.50 aircraft hired from the then small airline Qantas.
A Royal Flying Doctor Service museum is situated in the town.
The town also includes the Mary Kathleen Memorial Park and Museum, with its notable memorabilia being a water bottle used by famed explorer Robert O'Hara Burke, who led the ill-fated Burke and Wills expedition from Melbourne to Gulf of Carpenteria and who died, alongside Wills and five other explorers, on the return journey.
Traces of copper were discovered at Cloncurry in the 1860s by John McKinlay, while searching for Burke and Wills, with pastoralist Ernest Henry discovering the first copper lodes six years later.
To listen to all of Terry Ryder’s tips for property investors looking to benefit from the mining boom, <a href="/news">view Property Observer’s free webinar here</a>
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Remote Cloncurry, Queensland, a hotspot with high yield potential: Terry Ryder

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A newly renovated corner retail property on Swan Street in Richmond that would suit a cafe has been listed for sale with an asking price of at $655,000 plus GST.
<img src="/images/stories/2012/10/swanst.jpg">
The property would suit a self-managed super fund investor or a cafe operator who wishes to own his or her own premises.
The 70-square-metre property at 255 Swan Street on the north-east corner with Mary Street has 5.6 metres of street frontage and also features a small timber deck area on Mary Street side with bifold windows opening on to the street
White says there is an opportunity for alfresco outdoor facilities with consent for tables and chairs on the Swan and Mary street pavements on obtaining the relevant permits.
“The property is also adjoined by an architecturally designed residential development at the rear and there is an established residential area further north from Swan Street," says White.
The vacant property is also available for lease at a net rent of $36,500, which would equate to a yield of around 5.5%.
It previously was the premises for a take-away business.
Recent retail premises on Swan Street include the 204-square-metre premises of Angus antique furniture just a few shops down from the vacant corner café, which sold for $1 million in March last year on a yield of around 3.7% through Tom Maule and Larry Takis of Teska Carson Richmond.
Swan Street runs perpendicular to Punt Road from the Royal Botanical Gardens to Park Grove.
Other nearby retail businesses on Swan Street include Greek Restaurant Salona (260A Swan Street) Lily and Weasel, a home, gift and accessories boutique (173 Swan Street), auction house Swan Street Sales (365 Swan Street) and the Swan Street veterinary clinic (445 Swan Street).
The corner property is for sale or lease with immediate occupancy.
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Alfresco café dining premises in Richmond listed at $655,000

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The retail property picture is improving for landlords that have a tenant mix favouring large retailers and chain stores, rather than boutique operators.
The graph below, prepared by Westpac, shows how the two opposite ends of the retail market (in terms of size and reach) are diverging on retail sales following the release of August retail sales data last week.
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<img src="/images/stories/2012/10/westpacoct10thumb.gif">
“Small retailers have borne the brunt of the recent softening in sales with a 0.7% decline in August following July's 1.4% fall," noted Westpac senior economist Matthew Hassan.
“Large retailers recorded a milder 0.5% dip in July and a 0.8% rise in August. Much of the gap likely reflects the resilience in basic food retail, which is dominated by the big supermarket chains, and the rebound in department store sales in August.”
Overall retail sales remained flat in August, up just 0.2% after a 0.8% decline in July, a 1.2% rise in June and a 0.6% rise in May.
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Chart of the week: Why large retailers and chain stores can pay their rents

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Competition between Wesfarmer’s Bunnings and Woolworth’s Masters for the DIY market will deliver benefits for the south-east Queensland bulky goods property sector, according to the latest Midwood Report on the Queensland property market.
"The bulky good sector is set to begin its recovery this year," says the August quarter Midwood Report, authored by Bill Morris.
Both Bunnings and Masters plan to open around a dozen stores throughout south-east Queensland over 2012 and 2013.
Masters has plans for stores at Bremer, North Lakes, Upper Coomera and Stafford, while Bunnings has stores underway or planned for Arundel, Oxenford and Newstead.
Midwood also notes a number of other major retailers have plans to open bulky goods stores in the region in 2012 and 2013.
These include American bulk-buying chain Costco, which is looking to open its forth Australian store in Brisbane at Stockland North Lakes Business Park.
“Preliminary planning approval has been given for a 14,000-square-metre area with room for 750 car spaces on the seven-hectare space,” says the Midwood Report.
IKEA also announced plans to build its second superstore in Brisbane at the Westfield precinct at North Lakes.
"However, they are awaiting approval from the council," says Midwood.
A 27,660-square-metre Harvey Norman store is to be completed in Maroochydore on the Sunshine Coast, and a 10,451-square-metre Gold Coast Homemaker Centre on Bundall Road has been has been proposed for completion in late 2013.
Recent bulky good store sales include a showroom on Old Pacific Highway in Oxenford, which sold for $4.7 million in June, with the sale negotiated by Pat Cavanagh and James Crawford from Colliers International Gold Coast.
The 1,700-square-metre building on a 3,853-square-metre site, anchored tenanted by Reece Plumbing and Ideal Electrical, last sold for $1.7 million in 2004, according to RP Data records.
The improved outlook for the bulky goods sector is not just confined to south-east Queensland, with A-REIT Charter Hall currently negotiating to buy a $230 million portfolio of Bunnings Warehouse properties across Australia in a sale-and-lease back deal.
Charter Hall may roll the Bunnings stores into a new unlisted fund with the backing of a major pension fund, reported the Australian Financial Review.
In its September spring forecasting report, BIS Shrapnel forecast an 18% rise in  non-residential commencements in Queensland in 2012-13 led by a 37% increase in the value of warehouse commencements with four 40,000-square-metre developments currently anticipated to start.
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DIY wars good news for south-eat Queensland bulky goods property sector: Midwood

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It appears Federal Treasurer Wayne Swan has taken RBA governor Glenn Steven’s “glass half full” speech to heart, finding something positive in the International Monetary Fund’s (IMF) lastest downgrade of global growth and risk of recession warning.
<a href="https://twitter.com/SwannyDPM" target="_blank"><img src="/images/stories/2012/10/swantweet.jpg"></a>
Australia ranked the 15th  biggest economy in the world in 2007 when Labor came to power.
In its <a href="https://www.propertyobserver.com.au/economy/imf-vindicates-rba-october-rate-cut-as-it-warns-of-one-in-six-chance-of-recession-in-advanced-economies/2012100957047" target="_blank">October World Economic outlook, the IMF</a> warned there was a one in six chance (17%) of a recession in advanced economies, while also reporting that Chinese economic growth slowing to around 7% in the first half of 2012.
The IMF has cut its global GDP forecast by 0.2 percentage points to 3.3% for 2012 and by 0.3 percentage points to 3.5% in 2013.
Forecasted growth for advanced economies in 2013 has been cut from 2% to 1.5%.
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Tweet of the day: Australia is punching above its weight economically, says Wayne Swan

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The International Monetary Fund (IMF) says there is a one in six chance (17%) of a recession in advanced economies, with Chinese economic growth slowing to around 7% in the first half of 2012.
The warning, contained in its October 2012 World Economic Outlook report, vindicates the decision by the Reserve Bank to reduce the cash rate in October primarily due to global risks and concerns expressed by RBA governor Glenn Stevens in his monetary policy decision statement that growth in Asia "is being dampened by the more moderate Chinese expansion".
“There is now a one in six chance of global growth falling below 2%, which would be consistent with a recession in advanced economies and low growth in emerging market and developing economies," says the IMF, which has cut its global GDP forecast by 0.2 percentage points to 3.3% for 2012 and by 0.3 percentage points to 3.5% in 2013.
The IMF reports that the global recovery has continued “but it has weakened”.
“In advanced economies, growth is now too low to make a substantial dent in unemployment. And in major emerging market economies, growth that had been strong earlier has also decreased.
“Relative to our April 2012 forecasts, our forecasts for 2013 growth have been revised from 2% down to 1.5% for advanced economies, and from 6% down to 5.6% for emerging market and developing economies.
Australia's outlook is better than most advanced economies, with the IMF expecting Australian economic growth of 3.3% this year and 3% growth in 2013.
The IMF notes monetary policy has been easing and will "remain very accommodative", with "various advanced economies recently cut policy rates (Australia, Czech Republic, Israel, Korea) or postponed rate hikes".
In line with the RBA concerns, the IMF warns that slowing growth in China “has affected activity in the rest of Asia, a consequence of the deepening of linkages throughout the region in the past decade”.
The IMF forecasts Chinese growth to slow to 7.8% in 2012 and then pick up to 8.2% in 2013. The Chinese economy grew by 9.2% in 2011.
“Growth is estimated to have weakened appreciably in developing Asia, to less than 7% in the first half of 2012, as activity in China slowed sharply, owing to a tightening in credit conditions (in response to threats of a real estate bubble), a return to a more sustainable pace of public investment, and weaker external demand,” says the IMF.
The main impact of a global recession on Australia would be a further sharp fall in commodity prices, a decline in real national income and an increase in unemployment with the IMF noting that “in Australia, continued strong mining activity and related investment have also supported growth”.
Olivier Blanchard, economic counsellor at the IMF, warns that the recovery has “suffered new setbacks, and uncertainty weighs heavily on the outlook”.
“A key reason is that policies in the major advanced economies have not rebuilt confidence in medium-term prospects."
The IMF notes that there has been a clear change in attitudes in the key eurozone area, "where new architecture is being put in place”.
“The lessons of the past few years are now clear. Euro area countries can be hit by strong, country-specific, adverse shocks.
“Weak banks can considerably amplify the adverse effects of such shocks. And, if it looks like the sovereign itself might be in trouble, sovereign-bank interactions can further worsen the outcome.”
The IMF says its lower forecast rest on “critical policy action in the euro area and the United States, and it is very difficult to estimate the probability that this action will materialise”.
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IMF vindicates RBA October rate cut as it warns of one-in-six chance of recession in advanced economies

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Buyers’ agents have cautioned first-home buyers that viewing too many properties can create confusion rather than help them make the right first purchase.
This follows the latest Mortgage Choice First Homeowner Survey, which found that on average first-home buyers look at 21 properties as part of the home-buying process.
Almost one-quarter (23%) of respondents said they had looked at somewhere between 21 and 50 houses before making a purchase, and 8% looked at more than 50 properties.
The survey also found that more than four out of five first-home buyers (82.3%) said they had no regrets about their final choice, with those in WA the most satisfied (90%) and those in Victoria the least satisfied (79.4%).
Despite the overall high satisfaction rating, the survey found that the biggest regrets among first-home buyers was wishing they had bought a property in a different area (27% of respondents), followed by more than a quarter of first-home buyers (26%) wishing they had shopped around more for a property.
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One-fifth of first-home buyers wished they’d either waited until they could afford a different property closer to their idea property, bought a different property type, waited until they were in a better financial position to buy or bought a less expensive property.
Fewer than one in 10 (8.2%) expressed regret at their choice of mortgage provider.


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Catherine Cashmore from National Property Buyers tells Property Observer it is very fine balance between viewing too few properties and too many and getting confused, which is where most first-home buyers go wrong.
“It comes down to experience, knowing the area you want to buy in and the property you want. You need to filter out the rubbish," she says.
There is some evidence for this in the survey with WA first-home buyers the most satisfied despite viewing the fewest properties on average – 17.8 compared with a national average of 21.3
Cashmore says the number one regret highlighted in the survey – first-home buyers wishing they have bought a property in a different area – is “absolutely correct”.
She says many first-home buyers fall into a trap of wanting to buy, for example, a two-bedroom apartment in South Yarra but only have $300,000 or $400,000 to spend, when they need $500,000.
“It’s a balance between the three “Ps” – price property and position.
“You usually can’t comprise on price, so you must compromise on the other two. If you want a two-bedroom apartment, you might need to be more flexible on the location."
She also says that first-home buyers have to approach their first property purchase with something of an investor’s mindset.
“It’s your first property purchase… You won’t live there you whole life.”
Paul Osborne, founder of buyers’ advocacy group Secret Agent, makes a similar point about the number of properties first-home buyers should inspect.
“In terms of amount of homes inspected.  It works a couple of ways.  Those that have purchased the first place they've seen are taking a risk, while those that look at a huge amount of homes tend to get more confused with the more they view,” he says.
Osborne says buyers his agency advises often have remorse about buying something that is too common and has limited scarcity.
“These include new construction apartments and generic housing estates,” he says.
Another regret he says first-home buyers have is buying too far out from the city.
“Buyers often have remorse about getting something bigger – but located further out.  They find they don't really need the extra space but truly value the convenience of being close to the city. “
Lastly he warns of “emotional buying”.
“Many purchasers who engaged in emotion-filled auctions in 2009 and 2010 find themselves sitting in negative equity.  Some buyers regret how they bid at auction for their property,” says Osborne.
Commenting on the findings, Mortgage Choice spokesperson Belinda Williamson says the fact that people are viewing so many properties before making a purchase is a positive – “it makes sense to invest the appropriate amount of time into researching and viewing potential properties to make sure you are happy with the final decision.”
“If home buyers spent an hour viewing each potential property, the time can quickly add up. However, the hours spent planning and properly considering all your options upfront, can save you from the heartache of making a hasty decision that can either cost you financially or leave you dissatisfied with your decision.”
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 First-home buyers risk confusion by viewing too many properties: buyers’ agents

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Only four out of the 13 lenders that have announced interest rate reductions since the October 2 RBA cash rate cut have passed on the full 25 basis points, according to research by mortgage comparison website Ratecity.com.au
The lenders that have passed on the full rate cut include bankmecu, which also offers the lowest standard variable rate of the 13 lenders at 5.49%.
This is 108 basis points lower than the lowest standard variable rate offered of the big four – NAB, which has a new standard variable rate of 6.58% and 121 basis points lower than Westpac, which will decrease its SVR to 6.71% from October 15.
The other lenders to have passed on the full rate cut are ING Direct (standard variable rate of 6.09%*), non-bank lender Myrate (5.92%) and Mark Bouris’s Yellow Brick Road wealth management business (6.19%).
Bankmecu is a customer-owned mutual bank based in Melbourne and is made up of conglomerate of around 50 credit unions and co-operatives.
It received its APRA banking licence in September 2011.
“By being a bank we believe we can compete with the big banks on their own turf, while retaining our unique customer ownership,” said CEO Damien Walsh at its launch.
Prior to it operating as a bank, it was called the Members and Education Credit Union (mecu).
According to the most recent APRA figures, bankmecu had a loan book of around $2 billion with around $1.9 billion in household deposits.
Apart from ING Direct, these four lenders are all tiny when compared with the major banks, which have passed on between 18 and 20 basis points and have blamed the high cost of raising deposits and need to balance the competing needs of shareholders, savers and mortgage customers for their inability to pass on the full rate cut.
ANZ will make its independent interest rate decision on Friday but is unlikely to pass on the full rate cut.
"Out of the 13 lenders that have so far announced rate drops, only four passed on the full 25 basis point cut to their standard variable rates, and Greater Building Society passed on 25 basis points to its packaged home loan as well. The movements were between 15 and 25 basis points," says Ratecity.com.au’s spokesperson Michelle Hutchison
"There is a significant difference between the amount of money borrowers will save, depending on how much their lender passes on. For instance, a 15-basis-point rate cut to a new rate of 6.25% for a $300,000 mortgage is worth about $29, while a 25-basis-point rate cut to 6.19% is about $49 per month."
*Ratecity.com.au had prevously specified ING Direct's standard variable rate as 5.73% and was the rate originally published in this story.
The rate of 5.73% is the new rate for loans under $500,000 with a max LVR of 80%. 
The 6.09% reate reflects the new rate for ING Direct's Orange Advantage &lt;$250K 95% LVR loan which is currently published on ING Direct website at 6.34% prior the rate cut.
Ratecity.com.au wishes to clarify that ING Direct’s cheapest advertised variable rate is currently 5.88% (before the rate cut) for loans over $500,000 with a maximum loan to value ratio of 80%.
"However, this rate and other home loan rates with different tiers and LVRs are not shown on the ING Direct website. The new rate of 5.73% originally referred to in the article is for loans with an LVR up to 80%. RateCity often publishes lenders’ standard variable rates because lenders use these as benchmarks and announcements for their rate decisions," explained Ratecity.com.au.
RateCity would like to clarify that the above interest rates shown in this story sourced by RateCity are accurate and RateCity prides itself in publishing factually correct and unbiased information. 
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 Bankmecu puts major banks in the shade as just four out of 13 lenders pass on full rate cut: Ratecity.com.au

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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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.

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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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Larry Schlesinger

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