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David St Pierre, the former Westpac home finance manager and mortgage broker accused by Today Tonight of selling low-doc loans to elderly pensioners whose funds have seemingly ended up in an alleged investment scam, has been suspending by his broking firm 1300 Home Loans, which is investigating his activities.
John Kolenda, CEO of 1300 Home Loans, says St Pierre was suspending on Friday, August 10, ahead of the expose, which aired on Channel 7’s current affairs program on Monday 13 August.
St Pierre’s 1300 Home Loans page comes up with error messages, but a cached version is still visible.
<img src="/images/stories/2012/08/davidstpierre2.jpg">
“David St Pierre has been suspended pending a full investigation by ourselves,” Kolenda told Property Observer.
Kolenda says St Pierre held accreditations with all the major lenders in the country – mortgage brokers must be accredited with a lender to offer their home loans – and had left Westpac of his own accord.
St Pierre is also listed as a member of the Mortgage and Finance Association of Australia (MFAA) – the peak industry body representing mortgage brokers.
MFAA chief executive Phil Naylor says it is his understanding that St Pierre was not a mortgage broker at the time the alleged loans took place but joined the MFAA subsequently.
“However, in light of the allegations, our disciplinary process is investigating his situation,” he says.
Today Tonight claimed David St Pierre, a former loan manager who worked for 20 years at Westpac, facilitated pensioners and nursing home residents to take out 30-year loans for as much as $440,000 with their funds seemingly ending up in a property investment scheme that promised returns of 15% that allegedly then never got off the ground.
In a statement to Property Observer, Westpac said that a “number of people, including a small number of Westpac customers, appear to be the victims of a sophisticated scam and are suffering financial hardship as a result of borrowing to invest in the scam”. “Westpac is committed to providing appropriate compensation to those customers who have borrowed money from us and who have been the victims of the apparent scam. “We believe that the apparent scam was committed by individuals who were never connected with Westpac's business.   “The matter is presently before the police. “We are strongly encouraging all Westpac customers who believe they are victims of this apparent scam to lodge a formal complaint with the Police so that a full and proper investigation can be undertaken.
"The home finance manager who facilitated entry into the loans is no longer employed by Westpac."
Property Observer contacted David St Pierre for a comment but had not received a reply by the time of publishing.
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Mortgage broker David St Pierre suspended by 1300 Home Loans and facing dual investigations

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Three fringe Melbourne municipalities – the focus of new residential community projects – recorded the highest internal population growth in Australia in the 12 months to June 2011, according to the latest ABS migration figures.
According to the ABS, the three statistical local areas (SLAs) to record the highest net internal migration gains in 2010-11 were Whittlesea - North (4,600 persons), Wyndham - South (4,000 persons), and Casey - Cranbourne (2,800 persons) in the south-east.
All three localities were included in plans announced by <a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-urban-sprawl-to-extend-into-six-new-suburbs-over-next-20-years/2012061455115">Victorian Planning Minister Matthew Guy in June</a> to extend Melbourne’s urban growth boundary with the addition of six new fringe suburbs.
The new suburbs announced by Guy will expand Melbourne’s urban boundary to the north (Mitchell and Whittlesea), to the west (Hume, Melton and Wyndham) and south-east (Cardinia and Casey) by 6,000 hectares.
In terms of Melbourne residential zones, the combined Melton-Wyndham residential zone had the biggest net gain of new migrants, with 9,600 new residents settling in this zone, according to the ABS figures.
According to research by Oliver Hume, four of the 10 residential community projects launched in the March quarter of 2012 were located in Wyndham, three in Melton, two in Whittlesea and one in Hume.
Projects in these suburbs include Villawood’s Pasadena community in Clyde – a 338-lot residential community near Casey Fields, which launched in July last year. The project offers blocks from 388 square metres up to 668 square metres, priced from around $220,000 to $245,000.
The Villawood project is close to Simonds Homes Cascades on Clyde Estate and Stockland's Selandra Rise in Clyde North.
In Wyndham the Dennis Family Corporation’s Manor Lakes master-planned development is already home to 1,500 families with the population to eventually reach 25,000 people. Lots of around 320 square metres are priced around the $175,000 mark, with three bedroom house-and-land packages priced from around $360,000.
The multi-cultural outer south-western Sydney suburb of Canterbury recorded the highest net internal migration loss of the period with 2,600 persons people departing.
Canterbury was followed by Greater Dandenong (–2,000 persons) in the south east of Melbourne and Brimbank-Keilor (-1,700 persons) in Melbourne’s west.
In total just over 2 million people moved between statistical local areas during 2010–11.
This was 1.6% lower than the number of moves estimated in 2009-10 (2.04 million).
On a state-by-state basis, net interstate migration was a source of population loss for NSW, South Australia, the Northern Territory and Tasmania over the 12 months to the end of June, with net losses of 13,200 persons, 2,600 persons, 2,500 persons and 50 persons respectively.
Those states and territories where net interstate migration contributed positively to population growth were Queensland (7,200 persons), Western Australia  (6,200 persons), Victoria (3,800 persons), and the Australian Capital Territory (1,400 persons)
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Outer-Melbourne's Whittlesea, Wyndham and Cranbourne suburban fringe capture surge in new migrants: ABS figures

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Consumer sentiment fell in August despite interest rates remaining on hold and other “favourable” economic factors, according to the August reading of the Westpac–Melbourne Institute Index of Consumer Sentiment.
The overall index fell by 2.5% in August from 99.1 in July to 96.6, partially reversed a rise in the index of 3.7% in July and a smaller rise of 0.3% in June.
Westpac chief economist Bill Evans called the August reading a “disappointing result”, with the index in the "cautiously pessimistic range".
“This is the sixth consecutive month that the index has registered below 100, averaging 96.2.
“This is unusual. The only comparable periods since the recession of the early 1990s are in 2000–01 when the index printed an average of 96.5 over an eight-month period and in 2008–09, when it averaged 88 over a 16-month period.
“That most recent period coincided with the authorities responding with a very aggressive fiscal expansion. In the current period both federal and state governments are entering into substantial fiscal consolidations,” says Evans.
Commsec chief economist Craig James, said there were now "mixed messages on confidence and consumer sentiment"  following yesterday's data showed the weekly Roy Morgan consumer confidence rating at a 13-week high and up 2.1% in August.
"The Roy Morgan rating is up 5.1% on a year ago while the Westpac/Melbourne Institute was up 7.8% on a year ago. Bottom line is that consumer confidence is just OK at present," James says.
"The Reserve Bank will probably be a bit disappointed at the latest consumer confidence results. There are plenty of good reasons for Aussies to be encouraged by the state of their economy, but we are still seeing the glass as half-empty rather than half-full. "CommSec expects the Reserve Bank to maintain its easing bias but it may not follow through with another rate cut until later in the year. Europe, the level of the Aussie dollar and the Chinese economic recovery are the key issues affecting interest rate decisions," says James.
In line with the overall drop in consumer sentiment recorded by Westpac, confidence among Westpac respondents who hold a mortgage fell by 3.9% from 98.8 to 94.9.
In the home-ownership category, tenants are the most optimistic with an index score of 100.4, but this reading fell from 110.4 reading in July.
Those who wholly own their own home scored 97.6, up from 95.1 in July.
The largest decrease of 6.3% was recorded by the component index reflecting family finances compared with a year ago.
This was followed by falls of 3.6% and 3.1%, respectively, in the component indices reflecting good or bad time to buy major household items and about economic conditions over the next 12 months.
Sentiment shifted the most among younger respondents, with decreases greater than 10% recorded by those aged between 18 and 24.
“There has been enough positive news around since the last survey, and generally over the last few months, to have sustained an upswing in consumer sentiment,” says Evans.
“News that retail spending was boosted in the first half of the year; unemployment remains low; the government has released $1.9 billion in fiscal compensation over the May–June period; the Reserve Bank had cut the overnight cash rate by 0.75% in May/June; and the President of the European Central Bank has been promising to "do whatever it takes" to save the euro has been unsuccessful in sustaining an upswing in sentiment.
“Indicative of a more positive global outlook the share market has risen by 2.9% and the Australian dollar has risen from around USD 1.02 to USD 1.05 since the survey in July, the latter also reflecting Australia’s attractive interest rate differential.”
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Consumers, tenants and mortgage holders lose confidence in August despite favourable economic factors: Westpac

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Australia’s biggest mortgage lender, the Commonwealth Bank, has reported record after-tax profits of $7.09 billion to June 30 – up 11% on the previous year – but slightly below analysts’ expectations in an environment of subdued credit growth and tighter interest margins.
The Commonwealth Bank retail banking division, which includes its mortgage lending business, managed cash profit growth of 3% to $2.9 billion over the year.
The bank’s share of mortgage lending in Australia fell slightly from 25.9% as of December 2011 to 25.7% as of June as it grew its home loan book by 4% ($15 billion) to $351 billion.
The bank noted that this outcome was the result of subdued system (industry-wide) growth and intense price competition.
Profits at subsidiary WA-based lender Bankwest increased by 13%.
The Commonwealth Bank reported that profit margins on lending and other products continue to be squeezed, with net interest margins (NIM) falling three basis points year-on-year. 
Delivering his first full-year results briefing since taking over as chief executive from Ralph Norris, Ian Narev called the 12-month performance a “good result given the uncertain environment in which we are operating”.
“As expected, revenue growth was subdued reflecting ongoing caution from both our retail and corporate customers.
“This translated into lower credit growth and greater pressure on market sensitive businesses."
Narev says the funding costs are being impacted by the higher interest rates the bank is paying on retail deposits in an intensely competitive environment as well as high wholesale costs when borrowing money on international markets in the wake of the debt crisis in the eurozone.
“Higher funding costs have put pressure on margins as competition for domestic deposits intensifies and wholesale funding continues to be expensive,” Narev says.
Despite these concerns, the bank remains positive about the medium- to long-term outlook for Australia.
“However, the global economy remains uncertain. It is difficult to see the catalyst for alleviating the uncertainty which will continue to affect consumer and corporate confidence. So, in the near term, we expect current revenue trends to continue, and we will retain conservative business settings,” says Narev.
The bank reported a 15% decline in loan impairment expense, with credit quality continuing to improve with troublesome and impaired assets down by 15%.
Loans 30 days in arrears decreased from 1.94% to 1.69% of the total portfolio, while those more than three months delinquent declined from 1.03% to 0.88%.
“While many of our customers are facing challenges, this is not translating into a deterioration of credit quality," says Narev.
 “However, given the uncertain outlook for both the global and domestic economies, we remain cautious with a strong balance sheet with high levels of capital, provisioning and liquidity,” he says.
The board declared a final dividend of $1.97 per share - an increase of 5% on the previous year’s final dividend. The total dividend for the year was $3.34 per share – up 4% on the previous year.
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Commonwealth Bank reports record $7 billion full-year profits as its mortgage lending grows 4%

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The magic of the movies continues at Westfield shopping centres, with cinemas the strongest-performing tenants, according to half-year results to end of June.
Cinema sales over the first six month of the year were 8.6% higher than over the same period last year and 5.5% up year-on-year.
One year ago cinemas were Westfield’s poorest performing tenants <a href="https://www.propertyobserver.com.au/news/westfield-cinemas-struggling-perhaps-due-to-pricey-popcorn/2011081751194">with sales down 8.7% over the six months June 2011.</a>
Mini-majors, which include stores like JB Hi-Fi and Dick Smith, also performed strongly, with sales up 2.6% over the six months and 2.8% over the past 12 months.
However department stores such as David Jones and Myer continued to struggle, with retail sales from these tenants down 0.3% for the first six months of the year and down 1.5% over the last 12 months to June.
Perhaps fuelled by Coles and Woolies' price-discounting wars, supermarket sales fell 0.2% over the six-month period (they are up 0.4% year-0n-year) while discount department stores (Big W, Target, K-Mart) sales were also lacklustre – down 0.4% over the six months and down 2.3% year-on-year.
Speciality tenant sales were lacklustre, with growth of just 0.8% over the six-month reporting period compared with 8.7% in US malls and 1.1% growth in UK malls.
However, there were large differences in the performance of different Australian speciality tenants, with food-related businesses doing better than those selling clothes, shoes and jewellery
Food retail sales were up 2.6% over the past six months, while and food catering sales rose 1.1%.
Fashion (-0.3), footwear (-2.3%) and jewellery stores (-2.4%) performed poorly.
<a target="_blank" href="https://www.propertyobserver.com.au/land/stockland-profits-slide-35-with-slower-than-normal-response-from-cautious-residential-buyers-to-rate-cuts/2012080755911">Last week as part of Stockland's annual results presentation</a>, managing director Matthew Quinn said Stockland would be altering the mix of its shopping centres, offering fewer clothing stores due to the in-roads being made in the premium and high-end fashion space from online retailers.
The Westfield half-year results reveal that Australian speciality tenants face higher occupancy costs compared with other regions.
Occupancy costs include rent plus turnover rent, marketing costs and other payments to landlords.
They account for 18.9% of costs for Australian and New Zealand Westfield tenants, compared to 15.2% in the US and 10.2% in Brazil.
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Cinemas, mini-majors and food retailers the strongest performers in Westfield stores

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Australia’s largest shopping centre landlord, Westfield, has reported a 31% rise in net profits of $800 million for the six months to the end of June.
However, revenue fell 10.7% over the six-month period to $1.213 billion from $1.358 billion revenue in the six months to June 2011 as retailing remained in a subdued state in Australian despite strong overall macro-economic conditions.
Australian speciality stores recorded growth of just 0.8% over the six-month reporting period, with Westfield Sydney the strongest -performing store in the Australian portfolio in terms of speciality sales – no individual shopping centre figures were provided.
Operating incomes were boosted by a pick-up in retail sales in the US, with speciality sales up 8.7%.
In the UK, retailing and the Westfield brand was boosted by the Westfield Stratford City's London Olympics location, which recording around 5.5 million visits over the two weeks of the Games, “giving the group an unprecedented exposure to a global audience”.
Co-chief executives Peter Lowy and Steven Lowy reconfirmed Westfield's forecast of a distribution of 49.5¢ per security, but warned of a challenging market place for retailers.
Peter Lowy highlighted a “volatile economic environment” while Steven Lowy said the retailing environment remained “subdued”.
“We are clearly in an environment of soft retailing, we need a spark to kick things off,” said Peter Lowy.
“On macro-scale the country is strong, but there does need to be a spark at the consumer level.
He told analysts that retailing had been subdued in Australia for three years, dating back to just after the government stimulus measures in 2009, when the government gave all taxpayers $900 to spend in an initiative aimed at keeping at recession at bay during the GFC.
However, both co-CEOs said Westfield remained in a strong financial position.
The half-year results show that net property income rose 7% to just over $1 billion, with comparable net property income growth the strongest in Australia, up 3.3% from its 42 shopping centres, the strongest-performing region for Westfield.
The US portfolio of 47 stores achieved comparable net property income of 2.5%, and the UK portfolio managed growth of just 0.9%.
The Australian portfolio remains more than 99.5% leased, with average speciality store rent rising 3.2% to $1,524 per square metre – the global portfolio is 97.5% leased.
Westfield completed 1,529 leasing deals over the six-month period, covering 194,000 square metres of retail space.
During the half year, the development of Westfield Sydney was completed, with Westfield reporting that it now has the highest specialty sales productivity in the portfolio.
Currently $1.5 billion worth of projects are under construction, with the group’s share being $1.2 billion. To date, the Group has invested $500m in these projects.
Last week, at Carindale in Brisbane, the $310 million expansion of that centre was completed.  
At Fountain Gate in Melbourne, Stage 1 of the $340 million project opened in May, with the remainder of the project on track for completion in September. 
During the half year, Westfield commenced work on $775 million of new projects including the development of the World Trade Center, the redevelopment at South Shore in New York and $80 million of smaller projects. 
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Westfield half-year profits up 31% but revenue down amid subdued retail climate

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Melburnians and Adelaidians can claim bragging rights over Sydneysiders for another year at least with the influential Economist Intelligence Unit naming Melbourne the world’s most liveable city.
Melbourne took over top ranking from Vancouver in Canada with a score of 97.5%, while Sydney ranked seventh overall – one place lower than its sixth-place ranking last year.
Noteably Adelaide moved up the three places to joint fifth in the ranking thanks to an improvement in the South Australian capital's infrastructure score.
Melbourne's score of 97.5% is just shy of a perfect score, with the city only losing points for climate, culture and petty crime.
“Australian cities continue to thrive in terms of liveability: Not only do they benefit from the natural advantages of low population density, but they have continued to improve with some high profile infrastructure investments," Economist Intelligence Unit survey editor Jon Copestake said from London.
"In Adelaide projects completed in recent years under the Strategic Infrastructure Plan for South Australia have been enough to move the city above Sydney, whose score is unchanged."
“Melbourne may claim national bragging rights, but four of the five Australian cities surveyed are in the top ten of the global index and are separated by just 1.6 percentage points," he added.
London, which hosted this year's Olympic Games, dropped in the index as a result of riots that took place in the UK last year.  As a result, the city fell two places to 55th in the ranking.
Dhaka in Bangladesh has the unenviable title of being the least liveable location surveyed.
The liveability report surveys 140 locations around the world to assess the best or the worst living conditions.
It originated as a means of testing whether Human Resource Departments needed to assign a hardship allowance as part of expatriate relocation packages. It has since evolved as a broad benchmarking tool used by city councils, organisations or corporate entities looking to test locations against one another.
Cities are scored on political and social stability, crime rates and access to quality health care. It also measures the diversity and standard of cultural events and the natural environment; education (school and university); and the standard of infrastructure, including public transport.
For more on Sydney's present and t, download our free eBook  <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-sydney-embracing-the-world-of-tomorrow">Sydney: Embracing the World of Tomorrow</a>
For more on Brisbane, download our free eBook  <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-the-brisbane-inner-city-market">Brisbane's Inner-City Urban Renewal</a>
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Melbourne surpasses Vancouver as world’s most liveable city as Sydney drops to seventh

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NAB has changed its outlook on interest rates and is now the second lender forecasting interest rates to rise by mid-2013.
The revised forecast is based on the assumption that there is no further deteriorating in economic conditions and that there is a general pick-up in the economy, according to NAB head of Australian economics and commodities Rob Brooker.
The only other lender expecting a higher cash rate by mid-next year is Lloyds TSB, which expects the cash rate to remain unchanged at 3.5% until the first quarter of 2013 and then rise to 3.75%.
In the most recent Bloomberg poll of economists on August 3 – ahead of the August 7 rate decision – NAB forecast the cash rate to fall to 3.25% in September and to remain at that level until the third quarter of 2013, when the bank expected it to rise to 3.5% and finish the year at 3.75%.
Based on the sentiments of 27 economists, Bloomberg has median cash rate of 3.25% – 25 basis points lower than the current setting – as of mid-2013.
NAB’s monthly business survey shows that business confidence surged higher in July, after deteriorating steadily over the previous two months, but business conditions weakened.
The survey shows a sharp increase in both labour and purchase costs.
Taking note of the NAB survey, ANZ said it showed that business conditions remained below their long-term average, but “they do not significantly increase the likelihood of a near-term rate cut by the RBA”.
“Indeed, recent communications from the RBA suggest the bank is comfortable with current policy settings for the time being.
“Nonetheless, ongoing global economic uncertainty, soft domestic activity outside of the mining sector and a benign inflationary environment, will most likely provide scope for further modest policy easing by the RBA,” said ANZ
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NAB joins Lloyds TSB in forecasting higher RBA cash rate next year if economy remains strong

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Owners of prime office space in the Sydney CBD should be in a better bargaining position from 2013, according to the latest global real estate report from Jones Lang LaSalle (JLL).
The prime Sydney CBD office market is forecast to transform from one favouring tenants in 2012 to a balanced market in 2013 and 2014, with both capital values and rents expected to rise by as much as 5% over the course of 2012.
This places Sydney in the middle range of performance forecasts for major CBD office markets – alongside London, Paris, Los Angeles, Mumbai and Frankfurt.
In the Asia-Pacific region, Beijing is set to be the strongest-performing prime office market over 2012, with a forecast 20%-plus rise in rental values and ma rise of between 10% and 20% capital growth.
Hong Kong and Singapore rental values are forecast to fall by as much as 20% over 2012.
In its Global Market Perspective Third Quarter 2012, JLL places Sydney in an upward cycle with both rents and capital values rising.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/jllaug15.gif"><img src="/images/stories/2012/08/jllaug15thumb.gif"></a>
The report makes passing reference to Perth, noting that the “commodities sectors continue to support robust rental growth in markets" such as San Francisco and the WA state capital.
Perth is also a market “showing healthy levels of corporate activity”, according to Jones Lang LaSalle.
The report says that economic uncertainty continues to affect investor sentiment across the globe, with deals taking longer to close.
It says the market remaining polarised with investors steering clear of risky assets, focusing instead on prime product in core markets like London, Paris and New York.
According to JLL, Sydney has performed modestly in relation to other prime capital city office markets, recording capital growth of 1.5% over the second quarter of 2012, matching the growth of regional competitors Tokyo and Shanghai, but well behind the top-performing CBD markets of Jakarta and Beijing, where capital values grew by between 9% and 11% over the quarter.
However, Sydney strongly outperformed CBD markets in Europe, which managed capital value growth of just 0.4% over the quarter, following the decline of 0.3% in the first quarter of the year.
Sydney is offering a prime yield of 6.9% and has a relatively high vacancy rate of 8.7%.
Comparative regional markets such as Singapore has a prime yield of 3.6% and a vacancy rate of 10.2%; Tokyo has a prime yield of 3.6% and a vacancy rate of 3.5% while Hong Kong has a prime yield of 3.1% and a vacancy rate of 3.4%.
The report notes that in contrast to many offshore markets, prime yields in Australia have not followed bond yields downwards.
“As a result the yield spread to bond rates is at record levels in most markets, providing a high measure of valuation support should bond yields revert to long term levels,” says Simon Storry, head of office investments Australia for JLL.
“With a global hunt for yield, Australian real estate assets are sharply differentiated on a valuation basis.  In addition, spreads between prime and secondary yields are generally wide, providing an incentive to owners and investors to refurbish and reposition assets,” he says.
Storry says that during the second quarter of 2012 a renewed cycle of financial market volatility saw leasing activity slow in Australia.
“Rents in many office, retail and industrial markets flatlined.
“In the Sydney CBD market, contraction by some financial market tenants was offset by migration into the CBD.
“Across office markets, as in the retail and industrial sectors, a slowdown in demand for space is largely offset by a limited construction pipeline. As a result, vacancy rates remain low and downside risk to rents is limited. In the longer term, continued growth will stimulate another construction cycle.”
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Sydney CBD office landlords to hold more power from 2013: Jones Lang LaSalle

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New draft national licensing rules for estate agents have removed the requirement for them to undertake continuing professional development (CPD) or obtain a diploma-level qualification.
The consultation Regulation Impact Statement (RIS) on a proposal for national licensing  for property occupations  has also removed the requirement that commercial property agents be licensed under the national framework.
These draft rules reject suggestions by <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/real-estate-institute-fears-2013-national-licensing-scheme-could-reduce-agents-qualifications/2012041754323">the Real Estate Institute of Australia in April</a> in its recommendations to the Council of Australian Governments (COAG) in April.
The removal of the diploma requirement would mean that estate agents in Western Australia, Northern Territory, Tasmania and South Australia will face lower educational qualifications than are currently in place.
These states and territories require either a diploma or a certificate IV qualification.
The national licensing framework is due to begin on July 1 next year, replacing the mutual recognition of real estate licences that currently exist between state and territory jurisdictions.
The RIS presents three options:
<ul>
<li>retain the status quo; </li>
<li>automatic mutual recognition, where similar to ‘driver’s licences, each license would be declared equivalent, being recognised by every other state and territory without the licensee having to reapply for a licence or pay any additional fee; or </li>
<li>national licensing, which is COAG’s preferred option.</li>
</ul>
“A national licensing system would provide a single policy approach to licence categories, regulated work and the eligibility requirements to obtain a property occupational licence,” COAG says.
“This would allow a person to work anywhere in Australia where the relevant work is licensed without having to reapply for a licence or pay any additional fee. A national licensing register would be established.”
Real Estate Institute of Australia (REIA) president Pamela Bennett is in favour of national licensing but has warned against settling for a lowest common denominator outcome.
“REIA supports national licensing and recognises the benefits this will bring to both the industry and to consumers through improved mobility between jurisdictions, an end to overlapping laws and a uniform approach across Australia. However, it is imperative that standards are not lowered for the sake of expediency”, she says.
Other items COAG is seeking to change include:
<ul>
<li>Under national licensing, a set of nationally uniform licence categories for the property occupations has been developed. The proposed licence categories that would apply to specified regulated work are real estate agent, business agent, strata managing agent, auctioneer and agent’s representative</li>
<li>One- or three-year licence periods are being proposed and would be available for all licence types, including property agent’s representative registration</li>
<li>Licence fees will be set in jurisdictional legislation, and it is likely that they will continue to differ across jurisdictions. It is proposed that licensees will pay their licence fee and renewals according to their primary place of residence</li>
<li>The removal of the requirement for continuing professional development: licensees would no longer need to spend time on and pay the fees associated with annual mandatory training courses</li>
</ul>
The industry and consumers now have the opportunity to make their views known by September 21 as part of a six-week consultation period.
<a href="https://nola.gov.au/files/2012/08/Property-Occupations-Regulation-Impact-Statement1.pdf">A copy of the draft framework can be downloaded here.</a>
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Draft national licensing rules ignore REIA suggestions on education standards for agents

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