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Both local and offshore commercial property investors have continued to pour money into Australian CBD office assets with around $2.4 billion worth of property changing hands so far in the first six months of 2012, according to new Colliers International research.
Year-to-date national office sales are on a par with the same time last year with Canberra notable for having racked up over $500 million in sales –accounting for a fifth of all investment sales, just behind Melbourne and Sydney.
In its latest series of CBD Office Research &amp; Forecast Reports, Colliers International found that while global economic conditions remain delicate and uncertainty surrounds some leasing markets, investment in Australia’s CBDs remains strong.
Colliers International recorded 34 transactions with a combined value of $2.4 billion for the first six months of 2012, compared with 38 transactions Australia-wide with a combined value of $2.4 billion for the first six months of 2011.
Net effective rental growth was positive in all markets over the past 12 months, with the exception of the Melbourne CBD which recorded a decline, despite positive net absorption in this market.
“Across the board, we are seeing soft tenant demand in our CBD office markets, but this is not being reflected in investment demand, which, in general, is very strong,” says John Marasco, Colliers International managing director of investment services.
Simon Hunt, Colliers International managing director of office leasing, says improved levels of tenant demand are being recorded nationally. “In the first half of the year we saw the gap between mining and non-mining driven markets widening, however, based upon an upswing in enquiry during July, we believe the disparity is unlikely to become any more pronounced in the second half of the year,” Hunt says.
“There are still deals happening in well-positioned and well-presented assets, with options that provide quality fit-outs requiring minimal adjustment leasing well, particularly up to 2,000 square metres
“Despite widely publicised cuts in the finance, retail and manufacturing sectors, the Australian unemployment rate fell in July and is currently at 5.2%. This has been reflected in positive net absorption in all CBD office markets.”
The highlight over the first six months of the year has been Canberra, which has recorded “outstanding investment growth”.
Marasco said Canberra CBD had shown exceptional performance over the first half of 2012, with a marked increase in foreign investment propelling total sales volumes to more than twice the amount record over the entire 2011 calendar year.
“This is the highest volume of foreign transactions in Canberra over the past four years,” Marasco says, with investors particularly attracted to ‘green’ buildings –highly sought after by tenants and in plentiful supply in Canberra.
About 82% ($308.89million) of the total sales volumes in Canberra ($504.07million) were to offshore investors, with the remainder bought by the government.
Steady investor interest has meant that yields for A Grade assets in Canberra have remained unchanged over the last two years, while B Grade assets have reached the bottom of the market cycle in over the first half of 2012.
Recent sales of such assets is 50 Marcus Clarke in Canberra, a 6-Star Green Star and 5 Star NABERS building which sold to CIMB Trust Capital, a Malaysian investor for $226 million - the highest Canberra sale in four years.
“Importantly, it had a 15-year lease to a Government tenant which is another key attraction in the Canberra market – secure cash flow is always in demand.”
Average A-grade net face rents in the Canberra CBD range from $375 to $425 per square metre with yields ranging from 7% to 8%.
According to Colliers, over the next six months eight buildings, comprising around 141,000 square metres of space, are expected to be delivered in the Canberra region with the biggest project being the ASIO Headquarters in the suburb of Parkes currently under construction and which will add 40,000 square metres of space to the Canberra market - representing 26% of the overall new supply anticipated to be delivered over the next twelve months.
A new office development at the St. John’s Ambulance site at 18 Canberra Avenue providing nearly 10,000 square metres of office space has been fully leased to the Department of Human Services. It is being developed by the Doma Group and due for completion in the second half of 2012.
For transactions above $20 million Melbourne had the leading tally of $629.5million, compared to $478.6million of sales recorded in the Sydney CBD.
In the Brisbane CBD, various investor types, namely institutions and foreign buyers, made approximately $408.5million worth of major purchases in the first half of 2012.
Investment-led economic activity in Perth persisted, despite a reported slowing of economic growth in China and a trouble-plagued European Union.
There had been four major transactions in the Perth CBD for the year-to-date, with a total value of $276.3million, with <a href="https://www.propertyobserver.com.au/news/st-georges-terrace-perth-paved-with-bronze-as-office-block-sells-but-for-less-than-last-time/2012082756264">another sale</a> yesterday.
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lschlesinger-FZcF9M3vE6

Government leases draw offshore investors to Canberra in strong six months of CBD office investment: Colliers

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ASIC is “actively monitoring” the way lenders advertise their mortgage products as part of a clampdown on misleading advertising of financial products.
And adding more weight to its role as corporate and credit watchdog, ASIC will begin conducting surveillance of mortgage brokers from September 1.
Since July 2010 ASIC has forced 117 advertisers of financial products – some of them mortgage products – to either withdraw or modify their advertising in response to concerns about potentially misleading or deceptive conduct.
Lenders that have been forced to change the way they advertise their products following ASIC concerns include Rams (in relation to the advertised interest rate on its high-interest savings product) and Resi (in relation to the comparison rate on its home loan offering). Both lenders took action to address ASIC concerns.
Most recently ASIC forced GE Money to change the wording on online advertising of personal loans and debt consolidation following concerns that the advertising was potentially misleading.
The GE Money advertisements stated that consumers could borrow "from $3,000" with an interest rate "from 13.99% p.a".
However, the fine print disclosed that only loans over $20,000 were eligible for an interest rate starting from 13.99% p.a. For loans of $3,000, interest rates started at 15.79%, and could be much higher. GE has subsequently changed the wording to more clearly disclose the applicable interest rate.
“Market participants should be aware that if they don't adhere to their legal obligations when promoting financial products, ASIC will take action,” a spokesperson for ASIC told Property Observer.
“ASIC wants to encourage advertising that is clear, accurate and balanced."
In addition to a number of ASIC's stakeholder teams proactively monitor financial product advertising from deposit takers, credit providers and insurance providers, ASIC will also be monitoring advertising specifically targeted at regional areas in addition to our monitoring of national advertising.
In February, ASIC released a new “good practice” guide for advertising financial products.
 “Advertisements for financial products should give a balanced message about the returns, benefits and risks associated with the product. Benefits should not be given undue prominence compared with risks,” the guide says.
The guide highlights that warnings, disclaimers, qualifications and fine print in advertisements should be given “sufficient prominence to effectively convey key information to a reasonable member of the audience on first viewing of the advertisement”. 
With regard to fees and costs, ASIC says advertisements should give a “realistic impression of the overall level of fees and costs a consumer is likely to pay, including any indirect fees or costs”.
Separately from its monitoring of financial products advertisements, ASIC will also launch a surveillance campaign between September and December 2012 designed to identify entities engaging in consumer credit activities without a licence.
The surveillance campaign is part of ASIC's existing role as credit regulator, which it assumed in June 2010 with all mortgage brokers required to hold a credit licence or be licensed as credit representative under a licence holder from January 1 2011 and abide by responsible lending obligations under the National Credit Act.
Individuals or businesses who engage in credit activities are required to hold an Australian credit licence, or be an authorised representative of a credit licence holder.
In July, ASIC cancelled the Australian credit licence of mortgage broker and aggregator Pump Financial Pty Limited, of Redcliffe, Queensland, after it was found it failed to hold membership of an approved external dispute resolution scheme (EDR) – one of the requirements of licence holders.
Pump Financial Pty Limited has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
ASIC commissioner Peter Kell says the campaign is designed to identify traders who applied for an Australian credit licence, but withdrew their application, or had it refused.
"By applying for a licence, they indicated an intention to engage in credit activities. Unless the trader is an authorised credit representative, or subsequently obtains an Australian credit licence, they cannot engage in credit activities," he says. "Anyone caught engaging in unlicensed credit activity may face criminal prosecution or be banned from obtaining a credit licence. "We want to ensure consumers feel confident when dealing with lenders, brokers and other credit providers and one way to do this is by weeding out players who aren’t playing by the rules."
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ASIC clamps down on misleading lender advertising and unlicensed mortgage brokers

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Property Observer has scoured the most well-known mortgage comparison websites to determine the lowest variable rate home loan and one- and three-year fixed home loans currently available.
The following results are based on advertised mortgage rates listed by <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a> and <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> as of August 27:
Lowest variable rate offerings:
<table cellpadding="0" cellspacing="0" border="1" width="470"><tbody>
<tr>
<td valign="top" width="158">
Provider
</td>
<td valign="top" width="151">
Loan name
</td>
<td valign="top" width="123">
Rate
</td>
<td valign="top" width="132">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="158">
UBank (NAB)
</td>
<td valign="top" width="151">
UHomeloan Refinance
</td>
<td valign="top" width="123">
5.62%
</td>
<td valign="top" width="132">
5.62%
</td>
</tr>
<tr>
<td valign="top" width="158">
Nationwide Mortgage
</td>
<td valign="top" width="151">
True Saver Home Loan
</td>
<td valign="top" width="123">
5.65%
</td>
<td valign="top" width="132">
5.65%
</td>
</tr>
<tr>
<td valign="top" width="158">
Loans.com.au
</td>
<td valign="top" width="151">
Dream Catcher
</td>
<td valign="top" width="123">
5.65%
</td>
<td valign="top" width="132">
6.02%
</td>
</tr>
<tr>
<td valign="top" width="158">
My mortgage freedom.com.au
</td>
<td valign="top" width="151">
My mortgage freedom
</td>
<td valign="top" width="123">
5.66%
</td>
<td valign="top" width="132">
5.97%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table cellpadding="0" cellspacing="0" border="1" width="470"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
V Plus Home Loans
</td>
<td valign="top" width="123">
V Plus 1 Year fixed
</td>
<td valign="top" width="95">
5.44%
</td>
<td valign="top" width="114">
5.74%
</td>
</tr>
<tr>
<td valign="top" width="137">
My mortgage freedom.com.au
</td>
<td valign="top" width="123">
My mortgage freedom. fixed rate
</td>
<td valign="top" width="95">
5.44%
</td>
<td valign="top" width="114">
6.06%
</td>
</tr>
<tr>
<td valign="top" width="137">
Reduce Home Loans
</td>
<td valign="top" width="123">
Reduce Fee Free 1 Year Fixed Rate
</td>
<td valign="top" width="95">
5.54%
</td>
<td valign="top" width="114">
6.16%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank (NAB)
</td>
<td valign="top" width="123">
UHomeLoan for Refinance – Fixed Rate Loan
</td>
<td valign="top" width="95">
5.58%
</td>
<td valign="top" width="114">
5.81%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table cellpadding="0" cellspacing="0" border="1" width="470"><tbody>
<tr>
<td valign="top" width="133">
Provider
</td>
<td valign="top" width="133">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="108">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="133">
V Plus Home Loans
</td>
<td valign="top" width="133">
V Plus 3 Year fixed
</td>
<td valign="top" width="97">
5.44%
</td>
<td valign="top" width="108">
5.70%
</td>
</tr>
<tr>
<td valign="top" width="133">
My mortgage freedom.com.au
</td>
<td valign="top" width="133">
My mortgage freedom. fixed rate
</td>
<td valign="top" width="97">
5.44%
</td>
<td valign="top" width="108">
6.06%
</td>
</tr>
<tr>
<td valign="top" width="133">
UBank (NAB)
</td>
<td valign="top" width="133">
UHomeLoan for Refinance – Fixed Rate Loan
</td>
<td valign="top" width="97">
5.54%
</td>
<td valign="top" width="108">
5.69%
</td>
</tr>
<tr>
<td valign="top" width="133">
Bank of Queensland
</td>
<td valign="top" width="133">
3 Year Fixed Loan
</td>
<td valign="top" width="97">
5.55%
</td>
<td valign="top" width="108">
6.67%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a target="_blank" href="/news">Refinancing and the Interest Rates Riddle</a>
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Lowest rate home loan offerings from 5.44%: Fixed and variable as of August 27

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Ahead of an expected pick-up in residential sales activity in the established housing market in spring, developers and builders are offering a range of incentives to encourage new home buyers.
Incentives include cash handouts, new cars, free house upsizings and zero deposit home loans.
The freshest offering, commencing on September 1, is a $10,000 cheque Stockland and participating building groups will give to buyers in four of its NSW residential communities.
Buyers will be able to spend the money as they choose, following research by social research group Ipsos Mackay that – among other things – found that childcare and healthcare costs are a growing burden and that government handouts and hand-ups are going to the wrong places.
“Stockland’s spring offer reflects this ‘real’ mentality by letting buyers chose how and when they wish to use $10,000. Unlike other offers on the market, it is completely flexible so customers may choose to pay bills, top up their savings account or take a much-needed holiday,” says Matthew Mears, Stockland’s general manager of NSW residential development.
Here’s a round-up of some of the more prominent special offers from new housing developers and builders:
 Stockland’s $10,000 “reality cheque”
From September 1 to October 21 new buyers in four Stockland NSW residential communities – <a href="https://www.stockland.com.au/residential/nsw/mckeachies-run-living-at-mcKeachies-run.aspx" target="_blank">McKeachies Run in Maitland</a>, <a href="https://www.stockland.com.au/residential/nsw/murrays-beach-living-at-murrays-beach.aspx" target="_blank">Murray’s Beach on Lake Macquarie</a>, <a href="https://www.stockland.com.au/residential/nsw/brooks-reach-living-at-brooks-reach.aspx" target="_blank">Brooks Reach in the Illawarra</a> and <a href="https://www.stockland.com.au/residential/nsw/bayswood-living-at-bayswood.aspx" target="_blank">Bayswood at Vincentia on the NSW south coast</a> – will receive $10,000. The money will be paid on settlement comprising $5,000 from Stockland and a further $5,000 from participating builders, including Barrington Homes, Clarendon Homes, Eden Brae Homes, Huxley Homes, Masterton, McDonald Jones Homes, Perry Homes and Trevelle Homes. A home-and-land package (three-bedroom, two-bathroom home with garage) starts from $323,950 at Brooks Reach.
Free Toyota worth up to $40,000 from Peet
Listed property developer Peet has extended its offer of a free Toyota car to September 2 to house-and-land buyers who purchase select blocks of land in one of <a href="https://www.peet.com.au/freecar/qld/lotsbonus.aspx" target="_blank">five Queensland communities</a> and one of <a href="https://www.peet.com.au/freecar/vic/" target="_blank">eight communities in Victoria.</a> Developments include Flagstone Rise in the Brisbane south west suburb of Jimboomba, with house-and-land packages from $345,000. A Toyota Yaris worth $19,000 is being offered on select blocks of land in this development starting from $162,000 for a 685-square-metre block. Other more expensive select blocks in other estates come with a free Toyota Kluger ($40,000) or Rav4 ($29,000).
Devine to pay new buyers up to $10,000 on completion
Listed developer Devine will <a href="https://www.devinedouble.com.au/" target="_blank">double the deposit paid on any new Devine house-and-land package or on a Devine home</a> built on the buyer’s own land up to a maximum of $10,000. The offer is valid for approved purchasers who sign an unconditional contract for sale with Devine for a new Devine house up until September 30, 2012. Devine will pay the buyer the value of their deposit within 10 days of completion up to a maximum of $10,000. Buyers still need to obtain finance for the full balance purchase price in order to settle.
Free upsize offer valued up to $16,000 for buyers of some Burbank Homes
Queensland and Victoria home builder Burbank is offering new home buyers a free size upgrade from a <a href="https://burbank.com.au/promo/Upsize/" target="_blank">28-square-metre home to a 31-square-metre home in 21 display locations</a> up until November 1. Homes that qualify for a free upgrade include the <a href="https://www.burbank.com.au/HouseDetails.aspx?ID=82" target="_blank">Ascent design</a>, where buyers can save around $10,000 on an upgrade and the <a href="https://www.burbank.com.au/HouseDetails.aspx?ID=183" target="_blank">Scarborough design</a>, where savings are up to $16,000. Other homes included in the promotion are the Attenborough, Evolution, Clemson, Freeman and Durham designs.
$0 deposit offer from Perth builder HomeStart
<a href="https://www.homestart.net.au/no-deposit-homeloans" target="_blank">HomeStart is offering a no deposit home loan</a> to new home buyers sourced through credit provider Harrisdale Pty Ltd trading as The Loan Company. The Perth home builder offers house-and-land packages starting from $230,000. HomeStart is part of the privately owned Buckeridge Group of Companies (BGC), one of the largest home builders in WA.
Carlisle Homes offering $10,000 incentive on select purchases in Warralily
Victorian builder Carlisle homes is offering a $5,000 discount for buyers who purchase a Hansen, Westbury Mk2, Savannah &amp; Ascot home and build in the <a href="https://www.carlislehomes.com.au/special-offers" target="_blank">Warralily masterplanned residential community</a>, a  joint development by Casey Capital Partners and Newland Developers near Geelong. In addition, Warralily Estate will also offer a $5,000 rebate on selected lots in Warralily Estate.  First-home buyers can save up to $17,000 if they qualify for the $7,000 Victorian government first-home buyers' grant.
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New cars, $10,000 cheques and free home size upgrades:  Six spring incentives from house-and-land developers and builders

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<img src="/images/stories/2012/08/350k.gif">
The net annual rental that Furniture &amp; Bedding will pay to lease a 9,601-square-metre office and warehouse facility at Clayton in Melbourne’s south-east. Director of Savills Notting Hill office Lynton Williams negotiated the three-year deal at 106 Fairbank Road on behalf of a private investor.
 
<hr>
 
<img src="/images/stories/2012/08/42k.gif">
The net gross face rent per annum that L.F Fitness For Fun Pty Ltd will pay to lease a brand new 275-square-metre showroom at 343 Reserve Road, Cheltenham. The lease is for five years plus renewal options. The lease was negotiated by Sasan Misaghian from Colliers International. The lessor is Keasment Pty Ltd. The showroom is part of a development featuring five recently built showroom/warehouses located just off Bay Road and in close proximity to Neapean Highway.
 
<hr>
 
<img src="/images/stories/2012/08/656110.gif">
The net rental income Bunnings is paying on a 10-year lease of a 20,090 square metre bulky goods site at 220 Jubilee Highway, Mount Gambier, in South Australia. The lease expires in August 2010. The site features a 5,124-square-metre showroom, 1,765-square-metre timber yard and 1,386-square-metre outdoor nursery. The property is being sold by Jamie Guerra and Stephen Bolton from Jones Lang LaSalle via expressions of interest closing September 20. The Bunnings lease agreement features 3% annual increases with market reviews every five years.
 
<hr>
 
<img src="/images/stories/2012/08/495.gif">
The initial gross rent per square metre per annum that forensic accounting firm Jirsch Sutherland will pay on a two-year lease at Level 9, 23 O'Connell Street, Sydney. The deal for the 368-square-metre whole floor was negotiated by Ray White Commercial’s John Skufris. The O’Connell Street tenancy is owned by Accord Pacific Resorts and offers natural light from two sides. The tenancy includes a reception and waiting area, a boardroom, meeting rooms and executive offices plus its own amenities as well as the availability of additional storage space.
 
<hr>
<img src="/images/stories/2012/08/159.gif">
The annual rent per square metre that Gemini Accident Repair Centre will pay to lease 1,663 square metres at 24 Herbert in Artarmon on Sydney’s north shore. The lease term is five years plus a five-year renewal option and was negotiated by Brad Sutton of Sutton Anderson.
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Commercial leasing: Sydney’s Furniture & Bedding signs $350,000 lease

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The reverse auction of the historic Burrawang Café in the Southern Highlands held on Sunday attracted three registered bidders and a large crowd came to watch but it failed to sell.
The auction was called by well-known  auctioneer Damian Cooley and set aside when the price fell to $1.5 million, having begun at $1.68 million.
Local Southern Highlands agent Rick Mooney from Raine &amp; Horne, who holds the listing, is currently in negotiations with all interested parties and hopeful of achieving a sale shortly.
Under a reverse auction, the price starts at market value (set by the vendor) – above the reserve price – and decreases until a bid is placed that is the winning bid. The winning bid is the first bidder to put their hand up.
Cooley used the visual aid of a red and green light to conduct the auction.
When the price reached the vendor’s bottom line, a red light was displayed and the auction stopped. While the green light was on the property could still be bought during the auction.
The property, at 11 Hoddle Street in Burrawang, had last traded for $690,000 in June 2002, according to RP Data records.
“There was a terrific crowd of over 150 people, which for Burrawang is an enormous turn-out," Cooley tells Property Observer.
“Although it did not sell at auction, it was a great success and a credit to Raine &amp; Horne Bowral for their marketing.”
The café has been listed for sale since July last year with an original asking price in excess of $2 million.
Prior to the auction, a spokesperson for NSW Office of Fair Trading confirmed to Property Observer that there was “nothing unlawful about conducting an auction of residential property and rural land using the reverse auction process as long as all statutory obligations are met”.
However, the spokesperson said a there may be “a number of practical difficulties” the most obvious being where two bids are made at the same price by different registered bidders”.
“If this were to arise, the auction conditions would need to deal with how to resolve the matter.”
In this regard, Cooley said it would be up at his discretion and he would accept the bid in which in his opinion is in the best interest of the vendor.
“If there is a dispute in the bidding the auctioneers/my decision is final.”
<a href="https://www.propertyobserver.com.au/auctions/southern-highlands-burrawang-cafe-reverse-auction-not-the-first-but-still-stirring-up-debate/2012072055673" target="_blank">Burrawang Cafe is located in the main street of Burrawang, about 12 minutes to Bowral.</a>
It dates back to the 1860s and has been fully restored.
The café and Bower Cottage (also of 1860s vintage) stand on a half-acre (0.2-hectare) block, and both are currently leased on rolling monthly leases.
Burrawang General Store Cafe is a fully operational 100-seat timber restaurant featuring floodlit barrel ceilings. It is fully licensed and includes a 3,000-bottle cellar, a landscaped and manicured English garden and a separate office.
Bower Cottage is a fully renovated three-bedroom weatherboard home on the same title complete with a promenade balcony and polished floors. It features a living and dining area with garden views, a fireplace with access to an alfresco entertaining area. It also includes a separate studio.
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No takers for Burrawang Café in Southern Highlands as reverse auction stops at $1.5 million

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The Southern Moreton Bay island of Russell Island has ranked as Australia’s least resilient and poorest-performing suburb, with vendors having to discount their properties by an average of almost 30% and wait more than four months (127 days) to sell.
The figures are based on RP Data sales information for the 12 months to June, compiled for The Australian Financial Review.
The island, about 50 minutes from Brisbane and connected to the mainland by ferry and vehicle barge, has an oversupply of cheap residential land for sale, with some blocks priced as low as $25,000.
The list of least resilient suburbs includes the inner-Brisbane suburb of Hamilton on the Brisbane River, where properties take around three months to sell, with an average discount of 20%.
The list also includes a number of Perth coastal suburbs, including Dalkeith, which has a median price in excess of $2.6 million, and Swanbourne and Watermans Bay, which both have median prices in excess of $1 million.
The only NSW entrant is Copacabana in Gosford on the central coast, with prices discounted 18.5% on average and taking more than five months to sell.
Australia’s 12 least resilient suburbs
<table cellspacing="0" cellpadding="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Discount
</td>
<td width="154" valign="top">
Days on market
</td>
<td width="154" valign="top">
Median price
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Two Rocks, WA</a>
</td>
<td width="154" valign="top">
-18.3%
</td>
<td width="154" valign="top">
124
</td>
<td width="154" valign="top">
$392,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Dalkeith, WA</a>
</td>
<td width="154" valign="top">
-18.4%
</td>
<td width="154" valign="top">
132
</td>
<td width="154" valign="top">
$2.6 million
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Copacabana, NSW</a>
</td>
<td width="154" valign="top">
-18.5%
</td>
<td width="154" valign="top">
164
</td>
<td width="154" valign="top">
$615,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Watermans Bay, WA</a>
</td>
<td width="154" valign="top">
-18.8%
</td>
<td width="154" valign="top">
80
</td>
<td width="154" valign="top">
$1.2 million
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">North Booval, Qld</a>
</td>
<td width="154" valign="top">
-19%
</td>
<td width="154" valign="top">
79
</td>
<td width="154" valign="top">
$251,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Ottoway, SA</a>
</td>
<td width="154" valign="top">
-19.5%
</td>
<td width="154" valign="top">
98
</td>
<td width="154" valign="top">
$299,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Hamilton, Qld</a>
</td>
<td width="154" valign="top">
-20.1%
</td>
<td width="154" valign="top">
92
</td>
<td width="154" valign="top">
$906,109
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Swanbourne, WA</a>
</td>
<td width="154" valign="top">
-20.7%
</td>
<td width="154" valign="top">
124
</td>
<td width="154" valign="top">
$1.46 million
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">North Fremantle, WA</a>
</td>
<td width="154" valign="top">
-20.9%
</td>
<td width="154" valign="top">
164
</td>
<td width="154" valign="top">
$841,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Macleay Island, Qld</a>
</td>
<td width="154" valign="top">
-21.1%
</td>
<td width="154" valign="top">
128
</td>
<td width="154" valign="top">
$250,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Rocklea, Qld</a>
</td>
<td width="154" valign="top">
-22.7%
</td>
<td width="154" valign="top">
94
</td>
<td width="154" valign="top">
$310,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a href="/news">Russell Island, Qld</a>
</td>
<td width="154" valign="top">
-29.6%
</td>
<td width="154" valign="top">
127
</td>
<td width="154" valign="top">
$225,000
</td>
</tr>
</tbody></table>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>/Australian Financial Review
One of the most recent sales was this distinctive, mock-tudor two-bedroom house (pictured below), which took 91 days to sell and sold at a 19% discount to its original asking price.  It sold for $160,000 through Ray White Russell Island in June, having been listed at $198,000 in April.
<img src="/images/stories/2012/08/russell3.jpg">
Other recent property sales include a four-bedroom house on Aquarius Road that sold for $380,000 in April, having been on the market since September 2009 at an asking price of $450,000 – a discount of 15%, with the listing held by three different estate agents.
 
<hr class="system-pagebreak">
 
In January this year a three-bedroom, two-storey Queenslander on a large 1,096-square-metre block on Banksia Street sold for $245,000, having been listed for nearly four years (1,202) days. Its listing price in October last year was $320,000 – a discount of 23%.
Darren Ashenden from Ray White Russell Island, who also lives on the island and is <a target="_blank" href="https://www.realestate.com.au/property-house-qld-russell+island-110834491">selling a two-bedroom house on Rossi Avenue for $175,000</a>, says it’s the best buyers’ climate he has seen for 11 years and won't last forever.
He tells Property Observer the downturn kicked off in the wake of the GFC and there has since been a “significant downturn in pricing".
“At the start of 2010 I was selling just four blocks of land under $50,000 – now there is a huge selection under that price.”
Another agent, Trent Jamieson from LJ Hooker Bay Islands, <a target="_blank" href="https://www.realestate.com.au/property-residential+land-qld-russell+island-200337535">is selling two 607-square-metre blocks for Just $25,000 each</a>. Jamieson says the market "won't last long" and is open to negotiation on the two blocks of land.
Ashenden says there is a currently a lot of residential land for sale, which had historically been earmarked for investment.
For young people with families, Ashenden says a standard residential block of land can be picked up for between $30,000 and $40,000.
“There’s a lot of it.”
“It’s a unique market place, really condensed from budget to top dollar."
He says around 70% of the market is budget, with the rest being lifestyle buyers seeking waterfront and water view properties price between $270,000 and $370,000.
Residents include working-class people who commute to Brisbane everyday via the passenger ferry or vehicle-access barges, which run about every half-hour.
In terms of amenities, Russell Island is “fully serviced” and includes a Super IGA, speciality stores, an RSL, and bowls club.
RP Data figures show that Russell Island house prices have risen less than 1% a per year over the past five years, up 4.7% with a median price of $225,000.
Russell Island estate agent Edward A'Bear, who originally opened for business on Russell Island in 1999 and is selling <a href="https://www.realestate.com.au/property-house-qld-russell+island-111392059">a two-bedroom house for just under $270,000</a> as well as other properties, says land values have risen from $5,000 per block of land from 1999 to around $25,000 to $40,000 today.
“The prime spikes were 2003 and 2007 where the same land rose from $5,000 to over $50,000 and now dropped back to the levels today.”
He describes Russell Island as a “big monopoly board” with only a few gilt-edged waterfront and water-view blocks of land available and lots of "Old Kent" properties" available.
“Dynamics are parking issues on the mainland and cost of transport to and from the islands. “The newly elected Redland City Council members and councillors are determined to resolve these matters and there is every confidence they will do so,” he says.
He describes Russell Island and nearby Karragarra, Lamb and Macleay islands as some of the best kept secret from a real estate perspective. “We are very confident of the market activity increasing and level of sales is just beginning to reflect this,” he adds.
A report in July on <a href="https://www.russellisland.com.au/" target="_blank">russellisland.com.au</a>, a local tourism and real estate website, notes that “land on Russell Island is cheap, it is so cheap that people are shying away because they believe there must be something wrong with it”.
“The price of land on Russell right now is a classic market over reaction. It has fallen too far people, it has intrinsic value much higher than where it is now.
“Good quality residential land under $40,000 within 40 kilometres of the capital city of the fastest-growing state in Australia is crazy,” says “local investor” on russellisland.com.au.
Russell Island is the biggest of the Southern Moreton Bay Islands located between the mainland and North Stradbroke Island, measuring eight kilometres long and nearly three kilometres wide and is only 50 minutes from the Brisbane CBD.
According to census 2011, Russell Island has 6,300 people with 4,274 dwellings – nearly all houses, mainly two- and three-bedroom properties.
It had its first European settlers in 1866 with farmers and oystermen the first inhabitants. The first small village, called Jacksonsville, was built in 1906 that had sawmill, pineapple canning factory, jetty and cinema. The first school opened in 1916.
Half of the population (49.9%) earns a gross weekly income of less than $600 – compared with 22.8% for the rest of Queensland.
</body></html>

Russell Island in south-east Queensland leads list of least resilient suburbs: RP Data

<html><body>
Sydney’s most famous beachside suburb, Bondi Beach, has ranked as the second best performing and most resilient suburb in Australia, according to figures compiled by RP Data.
The eastern suburbs location is the only the prestige suburb among the 14 suburbs to have an average discount of less than 3.2%, with the list dominated by a mixed bag of Sydney suburbs and Canberra suburbs.
Bondi Beach has a median price of $1.5 million, making it the most expensive suburb on RP Data's list of best-performing suburbs. The off-the-plan Bondi Beach market faces a big test next month with the release of 85 apartments in The Pacific development, which could have been expected to secure a virtual sell-out in boom times.
Spence, a suburb in the Belconnen district of Canberra, is the most resilient suburb, with an average discount of just 1.5%. Properties in Spence take slightly longer than those in Bondi Beach to sell, at 61 days.
Spence was gazetted in 1972 and is named after William Spence, one of the founders of the Australian Workers' Union, with all streets in the suburb named after trade unionists.
All the other suburbs on the top 14 list are priced under $1 million, with the cheapest being Macgregor, also in the Belconnen district of Canberra, gazetted in 1971 and named after Sir William MacGregor, a former governor of Queensland.
The list was compiled by RP Data for the Australian Financial Review and looks at sales for the year to June.
Houses and apartments in Bondi Beach are on average discounted by just 1.8% and take less than two months to sell.
The other Sydney suburbs on the list are Camperdown (four kilometres south-west of the CBD), Strathfield South (14 kilometres west of CBD) and Peakhurst Heights (22 kilometres south of the CBD).
Australia’s 14 most resilient suburbs
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Discount
</td>
<td width="154" valign="top">
Days on market
</td>
<td width="154" valign="top">
Median price
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Spence, ACT</a>
</td>
<td width="154" valign="top">
-1.5%
</td>
<td width="154" valign="top">
61
</td>
<td width="154" valign="top">
$484,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Bondi Beach, NSW</a>
</td>
<td width="154" valign="top">
-1.8%
</td>
<td width="154" valign="top">
51
</td>
<td width="154" valign="top">
$1.5 million
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Scullin, ACT</a>
</td>
<td width="154" valign="top">
-2.1%
</td>
<td width="154" valign="top">
44
</td>
<td width="154" valign="top">
$468,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Richardson, ACT</a>
</td>
<td width="154" valign="top">
-2.7%
</td>
<td width="154" valign="top">
66
</td>
<td width="154" valign="top">
$445,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Peakhurst Heights, NSW</a>
</td>
<td width="154" valign="top">
-2.6%
</td>
<td width="154" valign="top">
33
</td>
<td width="154" valign="top">
$769,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Camperdown, NSW</a>
</td>
<td width="154" valign="top">
-2.8%
</td>
<td width="154" valign="top">
58
</td>
<td width="154" valign="top">
$856,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Conder, ACT</a>
</td>
<td width="154" valign="top">
-2.8%
</td>
<td width="154" valign="top">
67
</td>
<td width="154" valign="top">
$515,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Evatt, ACT</a>
</td>
<td width="154" valign="top">
-2.8%
</td>
<td width="154" valign="top">
57
</td>
<td width="154" valign="top">
$481,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Charnwood, ACT</a>
</td>
<td width="154" valign="top">
-2.9%
</td>
<td width="154" valign="top">
61
</td>
<td width="154" valign="top">
$387,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Gilmore, ACT</a>
</td>
<td width="154" valign="top">
-3%
</td>
<td width="154" valign="top">
55
</td>
<td width="154" valign="top">
$485,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Macgregor, ACT</a>
</td>
<td width="154" valign="top">
-3%
</td>
<td width="154" valign="top">
72
</td>
<td width="154" valign="top">
$440,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Strathfield South, NSW</a>
</td>
<td width="154" valign="top">
-3.2%
</td>
<td width="154" valign="top">
63
</td>
<td width="154" valign="top">
$743,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Gowrie, ACT</a>
</td>
<td width="154" valign="top">
-3.2%
</td>
<td width="154" valign="top">
63
</td>
<td width="154" valign="top">
$535,000
</td>
</tr>
<tr>
<td width="154" valign="top">
<a target="_blank" href="/news">Latham, ACT</a>
</td>
<td width="154" valign="top">
-3.2%
</td>
<td width="154" valign="top">
52
</td>
<td width="154" valign="top">
$464,000
</td>
</tr>
</tbody></table>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>/Australian Financial Review
The full list, published in the Australian Financial Review, records that the best-performing suburbs are more likely to be more affordable ones further out from the city.
“Affordability in the market is really an issue,” RP Data head of research Tim Lawless told the AFR.
“These are areas that have a strong foundation to their marketplaces. These are really markets driven by vendors [sellers], not buyers. They’re not budging on prices, and buyers are meeting their price expectations.”
The best-performing Melbourne suburb is Croydon Hills in Melbourne’s outer north-east, with an average discount of 3.6%. Properties take an average of only 40 days to sell.
Flemington, just four kilometres north of the CBD, is Melbourne’s best performing inner-city suburb with an average discount of 4% and taking 40 days for a property to sell.
</body></html>

 Bondi Beach ranks second among Australia's most resilient price suburbs behind Spence in the ACT: RP Data

<html><body>
Opportunities are increasing for vendors to advertise and sell properties themselves online, bypassing the use of estate agents and potentially avoiding thousands of dollars in commission.
Earlier this month a new player entered the DIY space – Intouch Real Estate founded by former Wizard Home Loans’ Paul Ryan – which immediately sparked an expected outcry from real estate agents on industry website Real Estate Business.
Ryan says selling your home yourself is a challenge vendors need to be up for.
Some of the issues DIY sellers must deal with, Ryan says, include ensuring photos, floor plans and description are true and correct, that vendors don’t misrepresent the property or mislead potential buyers, the negotiation process, attracting enough interest in the property and being at the open for inspections.
“Some people don’t like the concept of meeting people attending inspections, answering questions or hearing negative comments about their property,” he says.
But he maintains the sale process is far more transparent.
“The vendor can accept the offer they wish to accept and not be coerced into waiting until the campaign finishes or the auction date and potentially lose a buyer,” he says.
“You obtain genuine feedback, not clouded by real estate agent talk,” Ryan says.
And if the DIY campaign does not prove successful, Ryan says the vendor still has the option of transferring the sale to an agent.
Lorri Baxter, operations manager from Commission Free Real Estate (crfe.com.au), which offers to assist DIY sellers, says most vendors who go it alone have no idea of how to present their property, have an over-inflated opinion of the worth of their property and don't know how to finalise a sale if they find a buyer.
CRFE's service includes a professional advertising script, helping with negotiation and getting DIY listings on websites like realestate.com.au.
"In years gone by, many people have felt they needed to list with a local real estate agent to obtain a successful sale. Let me tell you, those days are long gone! It has become increasingly popular to sell your own home, as this is the only way to avoid paying excessive agent fees," she says.
Among Australia’s most dominant online real estate listings providers – realestate.com.au, domain.com.au and realestateview.com.au – only Domain.com.au provides what it calls a “self-service” offering, and most estate agents, not surprisingly, are firmly against the idea.
Robert Larocca, policy and public affairs manager at the Real Estate Institute of Victoria (which runs realestateview.com.au), says the trend of DIY selling has become more obvious because of the internet but warns that it has always “represented a false economy and still does – regardless of the apparent ease of the internet.
“In the first place, it simply may not be cheaper; many of the websites are simply conduits for a range of service providers seeking to sell a range of services that are often included in the professional fees charged by estate agents.
“Secondly, by not utilising the professional services of agents, consumers can be left exposed. They are less likely to get the best sale price and face the likelihood of having to spend countless hours doing the work normally done by their estate agent. “It may seem cheaper, but will it really be cheaper when you take into account the cost of your time and a lower sale price?”
Despite the large number of online DIY sites (see our list below) DIY listings make up a tiny proportion of the overall market.
As an example, for the post code of 2000 (Sydney CBD), realestate.com.au has over 750 listings while Domain.com.au has nearly 950.
Buymyplace.com.au – which claims to be the no.1 DIY listings website - lists just six properties for sale in the same postcode.
The results are similar for other postcodes Property Observer tried such as 3000 and 2011.
Vendors who do wish to explore the DIY route have a number of online ventures that offer services tailored at this market.
Services range from simply providing a template to completing an online listing to providing a collection of services such as featured listings on sites like realestate.com.au, organising professional photographs, preparing property reports, providing open-for-inspection signs and providing a legal partner for conveyancing.
Most charge a base fee, which rises as more services and features are added to a basic agreement.
Aside from the challenge of marketing, promoting and dealing with buyers, there are also legal obligations and potential hurdles, which can land DIY sellers in trouble.
Vendors must engage a solicitor or conveyance to ensure the necessary legal documents are in place and to also hold the deposit in trust.
Other challenges include estimating a fair price, vetting potential buyers and determining a settlement period.
Despite these challenges, there are numerous well-known advocates for DIY sales
Hotspotting.com.au’s Terry Ryder published a book Real Estate Without Agents, while consumer advocate Neil Jenman also backs the practice as a way to avoid commission costs and the risk of dealing with an unscrupulous agent.
Property Observer has scoured the internet to come up with a comprehensive list of online DIY offerings:
<a href="https://www.intouchrealestate.com.au/" target="_blank">www.intouchrealestate.com.au</a> 
Cost: starts from $995
Services: Access to LiveOffer system which allows vendors to monitor offers on their property online and in real time, yard signs, in-house online listings, listing with realestate.com.au, domain.com.au, promotional flyers. A more expensive vendor-assisted offering is also available for $1,995.
<a href="https://www.buymyplace.com.au/" target="_blank">www.buymyplace.com.au</a>
Cost: starts from $270 to $599
Services: Listing on bymyplace.com.au, for sale sign, six photographs. Auctioneering services, property reports, sales contracts and price negotiation services can be purchased for an extra charge.
<a href="https://selfservice.domain.com.au/">selfservice.domain.com.au</a> 
Cost:  $250 - $499
Services: The ability to build your own listing online and then publish it on domain.com.au. Prices vary dependent on suburb location.
<a href="https://www.forsalebyowner.com.au/">www.forsalebyowner.com.au</a> 
Cost: starts from $699 
Services: Listing on forsalebyowner.com.au, realestate.com.au plus other smaller listings websites, for sale board, property report, printable brochure and ability to manage your own account.
<a href="https://www.noagentproperty.com.au/">www.noagentproperty.com.au</a>
Cost: $295 
Services: Listing on noagentproperty.com.au, 12 photos, unlimited description and time, listing on the Trading Post online.
<a href="https://cfre.com.au/">www.cfre.com.au</a> 
Cost: $699 for “value plus” package (also offers $299 “sell it quick” package)
Services: This is a vendor-assisted offering. It includes a six month listing on realestate.com.au and Domain.com.au, for sale sign and sold sticker, property brochure, solicitor/conveyancer advice form, how to negotiate kit.
<a href="https://www.propertynow.com.au/" target="_blank">www.propertynow.com.au</a>
Cost: $390 listing fee + $90 recurring monthly fee 
Services: Online listing on propertynow.com.au, plus option to buy for sale sign for $75
<a href="https://www.forsaleforlease.com.au" target="_blank">www.forsaleforlease.com.au</a>
Cost: $399 + $99 per month or $795 until sold 
Services: Listings on all major websites, ability to change ad yourself. Extras cost for for sale signs, photographs, a listing on domain.com.au, floorplans etc.
<a href="https://www.owner.com.au/" target="_blank">www.owner.com.au</a>
Cost: $0 - $110 
Services: Standard listing on site with one photograph. For $110 you get unlimited photographs and a pair of for sale signs. Listings are free to renew.
<a href="https://www.diyrealty.com.au/" target="_blank">www.diyrealty.com.au</a>
Cost: $169  
Services:  This covers standard listing on site. ptional services. Optional services that can purchased at an extra cost include additional signage, feature listings and the option of listing on other real estate sites.
<a href="https://www.smartvendor.com.au" target="_blank">www.smartvendor.com.au</a>
Cost: $0 -$2,299
Services: The free offer includes an online ad, five photographs. The top package includes a Google advertising campaign, a listing on domain.com.au, personalised for sale sign and 300 personalised flyers.
 
</body></html>

Selling the house by owner gets new website advocate assisting the DIY challenge 

<html><body>
McGrath Estate Agents has launched a corporate page on Facebook racking up 667 ‘likes’ since going live overnight.
The Facebook page - <a href="https://www.facebook.com/McGrathEstateAgents">www.facebook.com/McGrathEstateAgents</a>-  includes photographs of some of the prestige properties McGrath agents have sold recently and tips for vendors.
John McGrath, CEO of McGrath Estate Agents, has also launched a personal Twitter account to share his observations about the real estate market with the handle: <a href="https://twitter.com/johnmcgrath100">twitter.com/johnmcgrath100</a>. He currently has 86 followers.
He tells Property Observer, the company has been monitoring the social media space "closely for about a year to understand how we can best utilise it to add value to our stakeholders.   
"At the end of the day, until we were confident our strategy would add value, we weren’t prepared to start," he says.
“We believe our Facebook page will be of great interest and add value to all our key stakeholders: Home owners, Buyers, Sellers, Investors and of course our own team.
We will stick to our core philosophy of ‘less is more’ and focus on a handful of areas that we think are current and relevant rather than trying to be all things to all people.
"There will be lots of visual imagery and videos which we believe is where this space is going."
Writing on real estate technology site business2.com.au, online strategist Greg Vincent, says that despite being "surprisingly slow" adopters of social media, the timeline functionality on Facebook Fan Pages means that a history of McGrath Estate Agents "could be uploaded, featuring images and company milestones that took place even before Facebook existed".
"This helps to give the impression that McGrath have been on Facebook for a long time," he says.
Other estate agent networks that already have a Facebook presence include the Australian arm of Century 21 - billed as the biggest real estate organisation in the world.
Its Facebook page - <a href="https://www.facebook.com/Century21Australia">www.facebook.com/Century21Australia</a> - has 1,344 likes to date.
California-based Re/Max - one of the biggest real estate networks with operations in 80 countries - has 3,468 likes for its Facebook page: <a href="https://www.facebook.com/ReMaxSupport">www.facebook.com/ReMaxSupport</a>
First National Real Estate also has a corporate Facebook page - <a href="https://www.facebook.com/FirstNationalRealEstate">www.facebook.com/FirstNationalRealEstate</a> - with 951 likes and celebrating their 30 years of success with a timeline going back to 1982.
Numerous indivisual estate agent offices have a Facebook presence, such as:
<ul>
<li>Ray White Byron Bay - <a href="https://www.facebook.com/raywhitebyronbay">www.facebook.com/raywhitebyronbay</a>
</li>
<li>LJ Hooker Lane Cove - <a href="https://www.facebook.com/ljhookerlanecove" target="_blank">www.facebook.com/ljhookerlanecove</a>
</li>
<li>LJ Hooker Balmain - <a href="https://www.facebook.com/ljhookerbalmain" target="_blank">www.facebook.com/ljhookerbalmain</a>
</li>
<li>First National Latrobe - <a href="https://www.facebook.com/FirstNationalLatrobe">www.facebook.com/FirstNationalLatrobe</a>
</li>
</ul>
 
<ul></ul>
<a href="https://www.facebook.com/raywhitebyronbay"></a>
<a href="https://www.facebook.com/ljhookerlanecove" target="_blank"></a>
</body></html>

McGrath Estate Agents racks up 667 ‘likes’ on new corporate Facebook page

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

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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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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.

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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.

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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.

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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.

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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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