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Anything other than an orderly correction in Australian house prices could spell trouble for Australia’s banks, an economist has warned.
Moody’s Analytics managing director and economist Tony Hughes says Australian housing “appears overvalued” and has warned of the experience in the US where the property downturn brought the “country’s banks to their knees”.
Hughes tempered his remarks, telling the Australian Financial Review that his report showed Australian house prices appeared “modestly, but not excessively” overvalued.
However, he warned against complacency given that Australia’s banks have the heaviest weighting to the local property market via home loans than any other banking sector in the world.
Home loans make up nearly two-thirds of the total lending undertaken by Australian banks compared to an exposure of around 35% among American banks.
The latest APRA banking figures for May provide a stark reminder of the extent to which the big four banks dominate the mortgage lending landscape.
Top of the pile is the Commonwealth Bank with a mortgage book worth $320 billion followed by Westpac ($297 billion), NAB ($196 billion) and ANZ ($178 billion).
By comparison, the fifth biggest mortgage lender, ING Direct, has a home loan book worth only $37 billion.
Hughes warns that this high exposure to home lending represents a “major concentration risk for banks and the Aussie economy”.
And while local analysts remain complacent in his view about this concentration risk, Hughes says international investors are concerned.
“When trends in Australian house prices are compared globally, the signs look worrying,” Hughes says.
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lschlesinger-FZcF9M3vE6

Australian banks at risk to “fickle” and “modestly overvalued” housing sector: Moody’s economist

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Borrowers on variable rates can pay off their home loan 10 years early if they don’t adjust repayments and put an extra $300 per month into their home loan every month, says mortgage comparison website RateCity.com.au.
However, mortgage broker Smartline advises that taking out a three year fixed-rate loan at 4.99% currently saves around $5,500 per year - and savings would be greater if mortgage rates were to start to rise in the next few years.
Rising interest rates will also make it harder for borrowers on variable rates to stay ahead of their mortgage repayments.
Much will depend on where interest rates head over the next few years.
Currently, major bank economists are tipping a rate cut to 2.5% in August, but the outlook beyond that is uncertain.
The most recent Bloomberg survey had a median forecast of a 2.75% cash rate by the end of 2014, but with forecasts ranging from as low as 2% to as high as 3.75%.
With this level of uncertainty, borrowers could also consider splitting their home loan between fixed and variable – and hedging their bets.
Analysis of the RateCity.com.au database of more than 100 lenders found that the average standard variable home loan rate has fallen by 1.62 percentage points from 7.31% in November 2011 – when the RBA began cutting the cash rate - to 5.69% in July 2013.
Variable rate borrowers with a typical $300,000 home loan who keep their monthly repayments at the November 2011 level of $2,059 are paying more than $300 per month above what they are required to pay.
If they continue this trend and add an extra $300 to a $300,000 mortgage each month, they would potentially save over $151,000 and shave nine years and five months off a 30-year home loan (based on the historical average standard variable rate of about 7%).
<img alt="RATECITY" src="/images/stories/2013/larry_uploads/RATECITY.jpg" width="470" height="98">
“Many Australians have taken a new approach to borrowing, which could see a whole generation of mortgage holders paying off their home loan a decade early,” says Michelle Hutchison, spokesperson for RateCity.
“Even though the cost of a mortgage rises when rates increase, it’s worth adding as much as you possibly can to your mortgage, particularly when rates are low."
A separate study by Smartline Personal Mortgage Advisers found that mortgage holders who choose to lock in their home loan at below 5% could save up to $5,500 a year.
<address></address>Smartline calculated the potential saving based on the rates on offer when compared with long-term average interest rates using fixed and variable offerings of an unnamed major bank. <address></address>
Over the past 14 years, the bank's basic variable interest rate has averaged 6.85% per annum. This same major bank is currently offering 4.99% for a three-year fixed rate. A saving of 1.86% p.a. on the 14 year variable average equates to a saving of about $5500 p.a. on a $300,000 mortgage.
“This is the very reason why a third of our clients are taking out fixed rate loans,” says Smartline mortgagebroker Michael Daniels.
“When you crunch the numbers on the savings, it’s a pretty compelling argument. 
“There are many more who are considering a fixed rate, but who don’t want to lock themselves into a fixed rate in case rates drop further. It’s probably the question Smartline Advisers are asked the most these days – ‘will they go lower?’. 
“While fixed rates might drop a little bit further – but I wouldn’t say it’s a certainty – the fact is that the fixed rates currently on offer are historically low. 
“Cheap is cheap – most people should be delighted to be paying something like 4.99% when compared with the long-term average variable rate of nearly 7%. 
“When fixed rates go up they move quickly, generally faster than they come down. You won’t kick yourself for locking in at 4.99% but you might if you suddenly find they’re back up past 6% again.” 
However, while the potential savings are significant, Daniels says people need to consider their own personal situation and whether locking into a fixed rate is the best approach for them.
Early exit fees still apply to fixed rate loans and these fees can be substantial.
 
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Fixed and variable conundrum remains as longer term outlook for interest rates remains cloudy

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Nearly three out of five Australians expect house prices to rise by just under 10% over the next 12 months as optimists continue to significantly outnumber pessimists on the short term outlook for the property market.
The results are part of the quarterly Westpac-Melbourne Institute Consumer House Price Expectations Index, which fell from 53.9 in April to 46.9 in July.
The latest  index records a small drop in the proportion of respondents expecting house prices to rise over the next 12 months from 62% in April to 58.6% in July.
Nearly a third of respondents (30%) expect house prices to remain stable over this time period with the proportion of people expecting house prices to fall, rising slightly from 8% in April to 12% in July.
Expectations are strongest in NSW with over two thirds of consumers expecting prices to rise.
The chart below shows how the house price expectations index correlates with and anticipates to a degree actual changes in house prices, as well as the recent softening in outlook.
<img src="/images/stories/2013/larry_uploads/westpac_house_price_index.jpg" width="470" height="215" alt="westpac_house_price_index">
The results are published in the Westpac Red Book and follows the<a target="_blank" href="https://www.propertyobserver.com.au/economy/consumer-sentiment-downbeat-compared-to-same-time-last-year-westpac-index/2013071063147"> monthly consumer sentiment survey</a> which found overall sentiment unchanged in July with optimists just outnumbering pessimists.
However, the sub-index tracking views on “time to buy a dwelling” fell sharply by 8.4% in July, foreshadowing the drop in house price expectations.
Despite the small downward adjustment in expectations over the  July quarter, Westpac Red Book author and senior economist Matthew Hassan says the ‘up: same: down’ mix of '58:30:12' is signi?cantly more positive than the '47:32:21' reading averaged in 2012.
“Although there is a clear consensus that prices will rise, few expect double-digit price growth with just 8% expecting a 10% plus rise," says Hassan.
“Dwelling prices often surprise though.
Prices rose 3.9% in the year to June – a gain over half of consumers did not anticipate.
“Conversely prices were weaker than expected in 2011-12 with only 22% of consumers correctly picking the 2.6% decline."
The Westpac index found some notable shifts in state sentiment with house price expectations taking a big knock in WA, falling from a “very bullish” +82 in Apr to a much lower but still positive +41 in July.
<img src="/images/stories/2013/larry_uploads/westpac_house_price_index2.jpg" width="470" height="222" alt="westpac_house_price_index2">
In WA, a less positive view on house price outlook, may see some cooling in WA’s housing market which outperformed in 2012-13, notes Hassan.
“This looks to be more than just a mining story with expectations in Queensland tracking in the opposite direction (up 15 points).
“Price expectations are now closely clustered with little separating consumer expectations in Queensland, Victoria and WA.
“Only NSW stands out as more bullish on prices, with over two thirds of consumers in NSW expecting prices to rise,” says Hassan
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Optimists outnumber pessimists on house prices despite drop in sentiment: Westpac Red Book

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ANZ has left variable mortgage rates unchanged at its monthly independent interest rate review.
The bank's standard variable mortgage rate remains at 6.13% per annum (6.23% comparison rate).
Variable interest rates for small business lending also remain unchanged.
The bank makes its own interest rate decision on the second Friday of every month.
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ANZ leaves variable mortgage rates unchanged at 6.13%

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Home loans to owner occupiers rose by a lower than expected 1.8% in May, according to the latest seasonally adjusted figures from the ABS.
There were 49,636 home loans approved in May compared with 48,475 in April.
A survey of economists by Bloomberg last week had forecast a median rise of 2.2% in May. 
Total housing finance by value increased 2% in May on a seasonally adjusted basis to $23.433 billion.
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Mortgage lending up lower than expected 1.8% in May: ABS

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The number of suburbs where you could be financially better of buying rather than renting has risen from 494 suburbs in December to 692 as of July, according to the latest RP Data Buy vs Rent Report.
The theoretical report lists suburbs across Australia where renters should think about doing the sums and perhaps looking at buying an equivalent property (if they can find one) rather than paying rent to a landlord.
The latest list is dominated by Queensland suburbs which make up more than third (242 suburbs) out of the 692 suburbs.
Greater Brisbane accounts for 71 suburbs while the remaining 171 can be found in the regional areas of the state.
There are 193 suburbs in NSW (73 are in Sydney), 75 in WA, 54 in Tasmania and 45 each in Victoria and South Australia.
Just two out of the 45 Victoria suburbs are in Melbourne.
Reflecting their relative unaffordability, there are just 29 Northern Territory suburbs on the list and six in Canberra.
A discounted variable mortgage rate of 5.4% and a three-year fixed mortgage rate of 5.15% have been assumed as part of the analysis.
Additionally, RP Data has assumed buyers hold a 10% deposit.
The full report is available to download for free at <a href="https://www.rpdata.com.au/buyorrent" target="_blank">rpdata.com.au/buyorrent</a>
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Queensland dominates list of 692 suburbs where you could be better off buying than renting: RP Data

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There are attractive investment options for Brisbane property investors with a $500,000 budget including “dodgy” but well-tenanted apartments close to the CBD, say valuers Herron Todd White.
“Second-hand units have a lot going for them,” says the valuation firm as part of its July market report on investment options below the half million dollar mark.
“Large floor areas, renovation potential and well established locations with good amenities are common for these properties.
“If you’re OK with staying at the cheaper end of things, you can most certainly pick up something dodgy within five kilometres of the CBD that will never be without a resident.
“It might be pre-1975, but the fundamentals will be good.
“Try any near city, walkable suburb that has a café strip and a lot of appeal.
“It’s even better if the tenant base is obvious – universities, hospitals and nearby places of employment.
"Shop around, be ready to jump and you will be sitting pretty.”
For investors looking for something a bit more modern, HTW says the “1980s have been back in fashion for some time now”.
“A two-bedroom, one-bathroom unit circa the era of bubble skirts and shoulder pads will be a goer.
“Try areas such as Stafford, Nundah and Kedron.
An example of an older style apartment well below $500,000 is <a href="https://www.realestate.com.au/property-unit-qld-nundah-113869551">this two-bedroom unit on Little Jenner Street in Nundah</a>, about 8 kilometres north east of the CBD, asking $329,000 and being sold by Renee Rennie of Go Gecko - Inner North.
"This renovated corner location North facing apartment on Little Jenner Street is a leisurely stroll to the cafes, restaurants and all that Nundah Village has to offer," says the listing.
Herron Todd White highlights the importance of the new Eastern Busway to Coorparoo of which two stages have been completed, to the overall appeal of these markets.
“We do bang on about the busway here but it is further evidence of how these locations are being very well serviced," says HTW.
“If you’re looking south, then Greenslopes or Coorparoo should have something.
“For $30,000 to $40,000, you can turn drab into fab and have the tenants begging to be let in.
“The sale price for one of these is anywhere from $300,000 to $400,000. The good thing is this – rental yield is now around 5% to 5.5% gross.
“The second best thing is that these returns feel sustainable. We wouldn’t expect to see much fall below 4.5% because all of these locations provide plenty of infrastructural support."
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“Dodgy” old apartment investments but with attractive yields under $500,000 available close to Brisbane CBD: HTW

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Investors may have “missed the boat” on some sub-$500,000 property investment opportunities on the Sunshine Coast as some confidence returns to the market and values firm “slightly” reports valuation firm Herron Todd White.
However, there are still opportunities for investors to snap up investments below or around the half a million mark near the coast, close to amenities with ocean views.
“We have seen some confidence returning, and there are some areas where the [$500,000] boat may have been missed, but not by much,” says the valuation firm in its July report examining cheaper investment opportunities at the start of the new financial year.
“The Kawana stretch and some inner Caloundra, Maroochydore and Noosa areas have seen some of the rot stop with a slight firming in values being experienced on the back of this returned confidence.
“Houses were beginning at the circa $400,000 price point, but with stock around this level drying up the price point appears to be around the $450,000,” says Herron Todd White.
Searches across real estate listings websites indicate options close to the water under $500,000 are limited.
Potential investment options below half a million could include this recently renovated <a target="_blank" href="https://www.reiq.com/House/for-sale/noosa-heads/2487865.aspx">three-bedroom house at Noosa Heads listed for $400,000</a> through Dowling &amp; Neylan Real Estate.
Coastal options are more plentiful in the unit market which has seen an “increase in popularity over recent times in these inner areas”, according to Herron Todd White.
“This has been largely for more permanent living style home units appealing to the buyer that wants to be able to lock and leave.
“They typically offer three-bedroom, two-bathrooms and two-car accommodation and are of a good size providing a viable alternative to a block of land and house.
“An example of this is the Cotton Tree area of Maroochydore, close to river, beach and cafe’s with prices in the circa $500,000.”
Current listings in Cotton Tree include this two-bedroom, <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-maroochydore-112200679">two-bathroom unit on Sixth Avenue, Maroochydore</a> which is listed for $479,000 through Ned Byrne &amp; Don Greeff from Cotton Tree Real Estate – Maroochydore. The apartment has ocean views and is just 100 metres from the beach.
Moving inland from the coast, Herron Todd White says there are opportunities throughout the hinterland.
“The options tend to be for older properties (10 to 20 yrs old) close to the various hinterland towns.
“The big positive for these properties is that the purchase prices still tend to be below what it costs to develop/replace the property.”
“This, you would have to think, should hold you in good stead in the future as the strengthening market moves out to these areas.
Herron Todd White says less activity in the quieter winter months and the looming federal election, when people usually put their major decisions on hold could possibly put pressure on some vendors.
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Sub-$500,000 Sunshine Coast investment options “drying up” as property values firm “slightly”: HTW

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Investors looking for a solid return on a $500,000 property play close to the Sydney CBD should consider a one-bedroom or studio apartment in Waterloo, about 4 kilometres south of the city centre.
Valuers Herron Todd White notes that Waterloo has “undergone dramatic redevelopment in the past 10 years and offers a good buyer option”.
“The area now comprises predominantly high density residential unit complexes.
“For $500,000 you could buy a semi-modern one-bedroom unit with single car space.
“A unit of this nature would rent for approximately $550 per week making it attractive for investment purposes,” says the valuation firm in its July market report, which examines where to spend a “lazy half a million” in the new financial year.
Using these figures, investors could get a gross rental yield of around 5.7% well above the average for Sydney of 4.9% for units, according to June figures from RP Data-Rismark.
A search on realestate.com.au reveals nine apartments in Waterloo priced at or below $500,000.
They are all one-bedroom and studio apartments, the cheapest being <a target="_blank" href="https://www.realestate.com.au/property-unit-nsw-waterloo-114062707">a second floor apartment</a> with car space on Wellington Street listed for $425,000 with a “motivated vendor” through Alex Lang of Ray White Pyrmont.
According to RP Data, median unit prices in <a target="_blank" href="/news">Waterloo</a> have risen 11.6% over the past 12 months with an average discount of 4.5% and an average time on market of 89 days.
“Proximity to the CBD and eastern suburbs, established infrastructure and the modern standard of accommodation contribute to its appeal for both owners and tenants alike,” says Herron Todd White
“In addition to the high rental returns, these units have also seen good capital growth as surrounding areas are also redeveloped.
“Developers in Waterloo and Zetland (adjoining suburb) communicate with our valuers that demand is still very high for new stock so we predict capital growth will continue into the future.
“At the $500,000 price point we see a mix of both investors and owner-occupiers in areas such as Waterloo.” HTW says investor interest levels in Waterloo are high while it also represents an “entry level price point for first time home buyers”.
“Because of the limited opportunities at this price in metropolitan Sydney first time home buyers play a major role in increasing demand levels.
“This entry price point adds to the demand from owner occupiers and investors alike, helping drive capital growth.”
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Sydney Waterloo apartments offer “attractive” sub-$500,000 investment opportunities: HTW

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An August rate cut is "on the table", Australian Financial Review columnist and economist Christopher Joye has tweeted this morning.
He told his 4659 followers the RBA "might" cut the cash rate next month writing in the AFR today that the trend rise in the unemployment rate to 5.7% in June "ensures that an August rate cut is very much live and hinges on a soft second quarter inflation reading".
The ABS will release June quarter inflation data on July 24.
<a href="https://twitter.com/cjoye" target="_blank"><img height="134" width="470" src="/images/stories/2013/larry_uploads/christopher_joye_RBA_tweet.jpg" alt="christopher_joye_RBA_tweet" style="font-size: 0.8em;"></a>
Meanwhile, Joye's fellow AFR columnist, David Bassanese has cheekily tweeted to his 3,719 followers that he also tips an August rate cut, but didn't make it onto the front page of the AFR:
<img alt="david_bassanese" height="90" width="470" src="/images/stories/2013/larry_uploads/david_bassanese.jpg">
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August rate cut is "on the table": Christopher Joye

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.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Larry Schlesinger

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