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ANZ Bank has appointed Glenn Maguire as its chief economist for Asia Pacific.
Glenn Maguire where he will be responsible for economic research in South and South-East Asia and the Pacific.
He has been acting in the role since May 2013 and has extensive Asian Economics and banking experience, having spent 16 years at Société Générale in roles including the head of Asian economic research based in Hong Kong. “It’s pleasing to be able to appoint one of Asia’s top economists to lead our team out of Singapore and I’m confident his insights will be highly valued by all our clients," said ANZ global chief economist Warren Hogan.
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ANZ appoints Glenn Maguire as new Asia Pacific chief economist

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James Packer's Crown group has received the amber light from the NSW state government to build its $1.2 billion 60 storey casino development at Barangaroo South knocking Echo Entertainment out of the battle for Sydney's second casino.
A review led by former Future Fund chairman David Murray recommended Crown's proposal over Echo.
NSW premier Barry O'Farrell said it was "not a licence to build but to proceed to stage three", where conditions and terms need to be negotiated.
The Hoover-shaped hotel and casino designed by British architects Wilkinson Eyre will feature 350 apartments and around 75 luxury penthouses plus restaurants, spa and swimming pools.
The hotel is due to be built by Lend Lease, employ around 2,000 people and generate around $400 million for the NSW economy.
It would break Echo Entertainment’s monopoly of the Sydney casino market.
Echo had submitted a proposal for a $1.1 billion transformation of The Star at Pyrmont into a massive integrated resort, featuring two new luxury hotels.
Kerry Packer was unsuccessful in a bid to be awarded Sydney's first casino licence  in 1994.
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Echo knocked out as James Packer wins amber light for Barangaroo South Casino

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The total number of private sector house approvals rose 1.5% in trend terms in May, according to the latest ABS building approvals data.
This contributed to the 1.0% increase in the total number of dwelling units approved.
On a seasonally-adjusted basis, private sector house approvals rose 2.5% to 8,113 dwellings to be up 11.6% for the year.
"The number of approvals to build new homes is currently above the decade average and actually 4% stronger than the 5-year average," notes CommSec economist Savanth Sebastian.
<img src="/images/stories/2013/larry_uploads/abs_buildign_approvals.jpg" width="256" height="266" alt="abs_buildign_approvals">
Source: ABS
Unit approvals fell 9.8% to 5,156 to be down 24.5% for the year.
Yesterday, the HIA earmarked a solid recovery in the residential building sector when it reported that new home sales ncreased by 1.6% in May, taking monthly sales back to their highest level in 18 months.
The ABS figures show that dwelling approvals increased in May in the Australian Capital Territory (4.1%), Tasmania (3.6%), Western Australia (2.7%), South Australia (1.8%), Victoria (1.2%) and New South Wales (0.8%) but decreased in the Northern Territory (-4.9%) and Queensland (-0.5%) in trend terms. In trend terms, approvals for private sector houses increased for the six consecutive month in May.
Of the states and territories, New South Wales (2.6%), Victoria (2.3%) and South Australia (2.2%) experienced the largest rises in private sector house approvals.  The trend value of total building approved rose 1.9% in May and has risen for 16 months. The value of residential building was flat while non-residential building rose 4.1%. This media release focuses on movements in the trend as seasonally adjusted month to month movements can be highly volatile and are not necessarily indicative of the underlying behaviour in approvals data.
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Private sector house approvals trend up 1.5% in May: ABS

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Yesterday, around lunchtime, the Australian dollar fell more than one cent to 90.6 cents after RBA governor Glenn Stevens let it slip that the decision to leave the cash rate on hold at 2.75% was a close-call.
The expectation among nearly all economists was that the decision to leave rates on hold was a relatively straightforward one - for once.
Instead Stevens said, as part of unscripted opening remarks at a Brisbane luncheon, that the RBA board had “deliberated for a very long time and then elected to sit with the cash rate unchanged”.
The official transcript on the RBA website has Stevens as saying:
“I don't propose to comment about yesterday's (July 2) decision in particular, or to send any particular messages about the next decision.”
Fairfax business and economics commentator Malcolm Maiden speculates that the “feverish market reaction” driven by a newsflash sent out by Bloomberg about Stevens' unscripted remarks reveals that overseas investors, who have invested without currency hedges, are very nervous about the dollar falling.
The unscripted comments made by Stevens could perhaps have been interpreted by overseas investors as meaning that it won’t take much for the RBA to cut the cash rate, which would send the Australian dollar falling even further.
But as Maiden points out, while the fall in the Australian dollar was triggered by “cash rate speculation” the very fact that it has fallen may work against the RBA needing to actually cut the cash rate when it next meets in August.
This link was clearly spelled out by HSBC chief economist Paul Bloxham at the end of May when he said  that the recent depreciation of the dollar has had the effect of adding to 0.1% to Australia’s GDP – “which is around the same as the estimated effect of a 25 basis point rate cut”.
So it is more than likely that Stevens, a clearly very prudent man, knew exactly what he was doing when he made his off the cuff remarks, that is:
Push down the dollar without a rate cut and leave further room for the RBA to move should global economic conditions deteriorate and force its hand.
A quick glance through the official transcript of the speech shows that Stevens made mention of the exchange rate on no less than 16 occasions.
A lower Australian dollar is vital to supporting the Australian economy’s transition from resource investment to non-mining sectors such as manufacturing, retail, tourism and real estate.
“It is no secret that I, for one, have been surprised that the foreign exchange market has taken as long as it has to reflect the fact that the terms of trade peaked some time ago – nearly two years ago, in fact," said Stevens.
“In the end, though, market-based exchange rates do eventually adjust – and usually in a less disruptive way than those that are maintained artificially.
“A flexible exchange rate is an important part of adjustment over all phases of the cycle and it remains a major advantage that we have one. If the economy ‘needs’ a lower exchange rate, it will probably get it,” Stevens said.
Yesterday, he appeared to give it more than just a gentle nudge in the right direction.
It has since emerged via the Reserve Bank's deputy governor Philip Lowe that governor Glenn Stevens was actually making a "light-hearted remark" when he quipped that the board had deliberated for a very long time on its interest rates decision.
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The Aussie dollar dive may have been part of Glenn Stevens' RBA script, not lower mortgage rates

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The number of Sydney properties listed for sale has fallen by almost a quarter in the space of a year with stock levels approaching four-year lows, according to new figures for June compiled by SQM Research. 
There were 23,707 properties listed for sale in Sydney in June, 14.6% less than in May (27,761) and 23.1% less than the more than 30,000 properties listed for sale the same time last year. 
All capital cities recorded expected declines in residential stock in line with the winter slowdown, but Sydney was the only capital city to record a double digit monthly decline and larger annual fall. 
A lack of listings could put further pressure on Sydney property prices given the impetus to buy due to low interest rates.
"We're not quite there yet in terms of stock on market, but we are approaching that period of late 2009, early 2010 when Sydney real estate prices were growing at  an annual rate of around 15%," SQM Research director Louis Christopher tells Property Observer.
"Vendors are now increasingly in control of the market and this will  put upward pressure on real estate prices.
In September last year, SQM Resarch forecast growth in Sydney house prices  in 2013 of between 5% to 9%.
"We are approaching the upper point of that range and 2014 could be a year when capital growth is even higher than that," says Christopher.
He attributes to the large drop in Sydney listings to not a lot of new listings coming to market as well as old stock now being absorbed because prices are rising to meet vendors' expectations.
According to the SQM Research Asking Price Index, asking prices for Sydney houses have risen 7.3% over the past 12 months to June 30 while asking prices for units are up 5.8%.
RP Data-Rismark records a 6.3% rise in Sydney house prices over the past 12 months.
BIS Shrapnel expects <a target="_blank" href="https://www.propertyobserver.com.au/residential/surging-sydney-to-lead-uneven-recovery-in-residential-property-market-over-next-three-years-bis-shrapnel/2013063062842">Sydney to be the strongest housing market </a>over the next three years with a 19% gain.
<img alt="SQM_research" height="170" width="470" src="/images/stories/2013/larry_uploads/SQM_research.jpg">
Source: SQM Research
Whilere there are less than 24,000 Sydney properties now listed for sale, Melbourne has nearly double the number of properties for sale, more than 46,000 properties for sale, while the much smaller Brisbane market also has more properties listed for sale than Sydney with just under 27,000. 
“I believe that overall, the national housing market still remains well supplied with current listings, however Sydney is turning out to be a clear exception,” says Christopher. 
“When you consider the long term chart, Sydney is approaching the 2009 lows and this fits with other measurements indicating a strengthening housing market for that capital city.” 
Behind Sydney, the next biggest monthly decline was Canberra (down 8.3%) while the biggest annual decline was Melbourne (down 8.7%) followed closely by Perth (8%). 
Nationally the level of residential property fell by 5.3% over June to a total of 358,882.
Year on year, residential listings are down 5.4%.
“Whilst the majority of capital city monthly decreases can be attributed to seasonal influences and the fact that we came through five weekends in May to four weekends during June, Sydney’s monthly decline of -14.6% in stock appears to have gone beyond these attributes, as we begin to witness stock levels for this capital city that match those seen in 2009,” says SQM Research in its analysis of the data.
“This being the case - combined with Sydney recording a -23.1% yearly decrease in stock, SQM Research believes that we may now be approaching a point where there is a shortage of residential sale listings in the Sydney Market.”
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Residential properties listed for sale in Sydney down 23.1% in a year adding further pressure to house prices: SQM

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Globe-trotting Australian economist Steve Keen has gone on Russian television to warn that first-home owner grants and other government housing schemes are a "help to sell" for vendors, create housing bubbles and make housing more unaffordable for new entrants.
"They drag people into the market who otherwise would not be able to get in," <a href="/news">he said on the Keiser Report on English language Russian news channel RT</a>.
“When the Australian government doubled and trebled the scheme (through the first-home owner boost which ran from October 2008 to December 2009) house prices went up 8% and 12% per annum.

“[That is] 12% more unaffordable. If you can’t control it becomes a poisoned chalice."
{qtube vid:=5dRdfEHMXjY}
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Housing grants a help to sell not a help to buy: Steve Keen

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Economist and property bear Steve Keen says housing grants are a “poisoned chalice” that inflate house prices leaving first-home buyers worse off, not better off.
<a target="_blank" href="https://www.propertyobserver.com.au/trends/housing-grants-a-help-to-sell-not-a-help-to-buy-steve-keen/2013070362962?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=realitytv">Speaking from Paris</a>, Keen said government housing schemes “drag people into the market who otherwise would not be able to get in" in an interview on the Keiser Report, a program on Russian English language news channel RT.
“What it does is increase the supply of buyers," said Keen.
“It’s a 'help to sell' not a 'help to buy' because those who are flogging their properties suddenly get a whole bunch of people with money in their pockets."
His comments were made in the wake of UK chancellor George Osborne’s heavily criticised ‘Help to Buy’ scheme, which provides state mortgage subsidies.
Keen said he agreed with the likes of the IMF and outgoing governor of the Bank of England, Mervyn King that Osborne's scheme is a bad idea.
Keen referred to the Australian experience of the government introducing first-home owner grants in an effort to bring more people into the housing market, which created housing bubbles each time such schemes were introduced, made housing more unaffordable and made buyers “worse off not better off”.
“When the Australian government doubled and trebled the scheme (through the first-home owner boost which ran from October 2008 to December 2009) house prices went up 8% and 12% per annum.
“[That is] 12% more unaffordable. If you can’t control it becomes a poisoned chalice."
Keen said governments sponsoring asset price bubbles to make themselves look like good economic managers was a “perennial theme” in Australia dating right back to when Bob Hawke came to power.
“One of the first schemes he introduced in the 1980s was a first home owners grant of a few thousand dollars, which started a little mini-bubble in housing
“After the 1987 stock market crash they did it again with a much larger amount of money that also started a huge bubble.
Prices rose 20% and 30% and then they fell 20% and 30% on the other side of it.
“In 2000 it was brought back and then doubled by John Howard in 2001. Eeach time they did it, it pumped up house prices even more.
“Housing grants have become part of furniture in Australia," he added.
By comparison, before the government began introducing these schemes, Keen says average house price increases were "one half of one percent" compared to consumer price increase over a year.
After the first scheme was introduced by Hawke, the average was 4% growth per year he said.
Keen also returned to his most controversial 2008 prediction about house prices falling 40%.
“House prices were falling when I made my call that they would fall 40% over 10 to 15 years.
“That’s when the government doubled and trebled the first-home owners scheme, which I renamed the first-home owners 'vendors' scheme.
“That restarted the bubble and they kept it going until mid-2010 when house prices started to fall again.”
“House prices fall much more slowly than the stock market. They don’t have the total crash.
“The biggest crash was in the US where house price did fall about 40% over four years.
“What I had in mind for Australia was the Japanese case of a slow bleed, where prices have fallen 70% over 20 years.”
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Housing grants a “poisoned chalice” that create bubbles and leave buyers worse off: Steve Keen

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Investors have shown a healthy appetite for liquor stores leased to Coles’ subsidiaries with four NSW retail outlets bringing in more than $15 million as part of a successful Burgess Rawson portfolio auction held in Sydney this week.
Prices ranged from $2.315 million for the Liquorland Belmont in Newcastle on a yield of 7.89% to $4.33 million for the Vintage Cellars Freshwater in Manly on a yield of 6.87%.
The two other liquor stores both sold in excess of $4 million.
First Choice Liquor in Naremburn sold for $4.3 million (8.03%) while Vintage Cellars in Cremorne sold for $4.2 million (6.86%).
Each of the stores return rental income in excess of $180,000 per annum.
The pubs were sold by auctioneer David Scholes of Auctionworks who says the retail property investment market is showing “great signs of confidence at the moment and should continue the trend for quality listings”.
Ahead of the auction Burgess Rawson agent Billy Holderhead said the liquor store market is receiving solid interest because private investors have confidence in the familiar brands that lease them.
“At the moment, you’ve got either Woolworths or Wesfarmers tenants. You get at least a 5-year lease term with solid tenants.
“If you’ve got a tenant you’re comfortable with and familiar with and read about on a daily basis, you feel more comfortable with that,” he said.
Other properties to sell under the hammer included to childcare centres in Morriset and Macquarie Fields, which sold for $1.925 million and $1.53 million respectively.
An Aldi supermarket in Dural was passed in on a bid of $3.625 million.
In total more than $28 million worth of commercial property changed hands at auction.
 
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 Investors turn on the taps as four Coles liquor stores ring up $15 million tab 

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Financial planners Dixon Advisory have raised $161 million for a new commercial property fund that will invest in small-to-medium-sized office, retail and industrial property.
The Australian Property Opportunities Fund closed oversubscribed with the firm, as responsible entity, raising more than $60 million above the initial maximum offer size from investors, many of whom would be its self-managed super fund clients.
With a consolidated gearing level of up to 50%, the fund will have around $300 million to invest in commercial property on Australia’s eastern seaboard.
Assets with attractive risk-adjusted income profile and with the potential for capital growth will be targeted.
It will not use the funds to invest in more risky new developments.
Dixon Advisory intends to invest the money in a diversified portfolio of assets over the next 12 to 24 months, taking advantage of historically low interest rates.
“With the spread between commercial property yields and cash rates rising to 10-year highs, we believe this is an attractive time for investors to generate stable rental income, and potentially longer-term capital gains, through an investment in commercial property,” said Alex MacLachlan, chairman of the fund’s responsible entity.
“The successful capital raising now puts the fund in an excellent position to engage with vendors of small-to-medium-sized assets that meet our investment criteria.”
Sydney-based corporate advisory business Fort Street Real Estate Capital will provide investment management and asset management services to the fund.
Dixon Advisory is also the manager of the ASX-listed US Masters Residential Property Fund, the first Australian listed entity with the primary strategy of investing in the US residential property market.
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Dixon Advisory launches first Australian property fund

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Australia needs to build more houses and apartments than it has done in the past as population growth picks up, interest rates remain low and dwellings remain more affordable, says RBA governor Glenn Stevens.
In a speech in Brisbane today, in which he forecast “sub-trend growth” in the near term and challenges in shifting the economy from mining to non-mining sectors including real estate, he highlighted that Australia remains a “lucky country” because, among other things, the GFC slowed down household borrowing and prevented them from becoming financially over-extended.
Stevens said dwelling investment has been “low for an unusually long period, with at least some households intent on reducing debt, thereby strengthening balance sheets”.
“Households have accumulated a good deal of cash as well over recent years,” he said in an address to the Economic Society of Australia luncheon.
“Meanwhile, population growth is quite solid and it has been picking up a bit of late.
“If anything, we will need to build more dwellings than we have been over recent years.
“Meanwhile, interest rates are low, dwellings are more ‘affordable’, and finance approvals for housing purchases have risen by 16% over the past year.
"So there are ‘fundamentals’ that favour a pick-up in these [non-mining] sectors.
Stevens said that no-one can pretend to be able to fine tune the ‘handover’ from mining to non-resources sectors “on cue, by just the right amount”
“We have, in fact, had a few handovers over the past five years – from private demand to public in 2009, then to mining investment subsequently.
“Now we are looking back to household dwelling spending, non-mining investment (and exports).
“Previous handovers have occurred, largely successfully. That doesn't guarantee the next one will, though it does mean that we shouldn't assume that it won't occur.
Overall though he painted a picture of a relatively sound Australian economy.
“At this point, we have unemployment at about 5.5%, inflation ‘in the 2s’, the banking system is strong and government finances overall sound.
“Growth is on the slow side, inflation is low.
“That combination means that we have low interest rates (the lowest for fifty years in fact).
“Significant structural change is occurring, which is always challenging. But set in context, the macroeconomic data over recent years show a pretty respectable set of outcomes." 
He also returned to a theme of a  well-received speech made in August last year called <a target="_blank" href="https://www.propertyobserver.com.au/economy/august-rate-cut-hopes-dim-further-following-upbeat-glenn-stevens-lucky-country-speech-commsec-anz/2012072455710">The Lucky Country.</a>
“It could equally be said that we were ‘lucky’ that the effects of the global economic downturn worked to help reduce inflation in Australia from its peak in 2008 of 5 per cent – which was way too high – to something acceptable.
“It could also be said that we were fortunate that the sub-prime crisis in the US emerged from early 2007, and not later. Although such lending was less prominent in Australia at that time, it was growing fast and would have become a much bigger vulnerability had it continued at that pace. The fact that things went wrong in the US when they did meant that what was a small problem here stayed small. 
“It could be added that we were lucky that the change in behaviour of households – slower borrowing, more saving – came when it did. For a start, had households continued as they were, they would have become more financially extended, and it is obvious now that that would have been risky. Moreover, this changed behaviour of households has helped us absorb the resources investment boom. 
“Of course the story is not yet finished. We have to negotiate the downward phase of the investment boom over the next few years, which appears likely to pose significant challenges. How will we meet them?"
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More new dwellings needed but we’re still “lucky”: Glenn Stevens

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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