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The Greater Building Society has cut its variable mortgage rates by 30 basis points - 5 basis points more than the official RBA rate cut announced on  Tuesday.
It is the only lender to date to have announced it is passing on more than the 25 basis points cut from the cash rate.
The Greater’s standard variable home loan rate will fall to 5.75% p.a (comparison rate of 5.81%) and its basic variable home loan rate will fall to 5.40% (comparison rate of 5.45%).
The Greater’s packaged loan rate will fall to 5.19% (comparison rate 5.75%). 
The Newcastle-based building society has 250,000 members across 66 branches in NSW, southeast Queensland and in Townsville.
It's probably most famous for <a target="_blank" href="https://www.youtube.com/watch?v=2YkAPkGkVrA">convincing Jerry Seinfeld</a> to appear in its advertising campaign a few years ago.
The new rates are effective from today for new customers and from May 15 for existing customers. 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="215" valign="top">
 
</td>
<td width="198" valign="top">
Standard variable loan
(comparison rate)
</td>
<td width="208" valign="top">
Basic variable home loan
(comparison rate)
</td>
</tr>
<tr>
<td width="215" valign="top">
Greater Building Society
</td>
<td width="198" valign="top">
5.75% (5.81%)
</td>
<td width="208" valign="top">
5.40% (5.45%)
</td>
</tr>
<tr>
<td width="215" valign="top">
National Australia Bank
</td>
<td width="198" valign="top">
6.13% (6.22%)
</td>
<td width="208" valign="top">
5.92% (5.92%)
</td>
</tr>
<tr>
<td width="215" valign="top">
Commonwealth Bank
</td>
<td width="198" valign="top">
6.15% (6.29%)
</td>
<td width="208" valign="top">
5.69% (5.83%)
</td>
</tr>
<tr>
<td width="215" valign="top">
Westpac
</td>
<td width="198" valign="top">
6.26% (6.39%)
</td>
<td width="208" valign="top">
5.61% (5.66%)
</td>
</tr>
</tbody></table>
Customers on a 25 year standard variable or basic home loan of $300,000 will see their monthly repayments reduce by $55. 
CEO Don Magin said that under the new rates, a person switching a 25 year, $300,000 standard variable home loan from Westpac to The Greater will save $58,200 in interest and be able to pay their loan off 7.5 years sooner.
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lschlesinger-FZcF9M3vE6

Greater Building Society passes on 30 basis point rate cut to borrowers

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Paying too much for residential land is one of four lessons Mirvac has learned, says new boss Susan Lloyd-Hurwitz in its strategic review.
Lloyd-Hurwitz, who joined Mirvac in <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/incoming-mirvac-ceo-susan-lloyd-hurwitz-to-start-in-november-as-board-backs-chairman-james-mackenzie/2012091156515">November last year</a>, identifies the following as residential lesssons learned by the property developer:
<ul>
<li>Overpaying for acquisitions</li>
<li>Inappropriate deal structures</li>
<li>Creating too much higher end product in shallow markets</li>
<li>Proceeding to build for reasons unrelated to market fundamentals</li>
</ul>
The four lessons learned are included in a presentation slide which show that 51% of Mirvac's master-planned community projects are impaired with 31% of projects on the "urban edge" also impaired.
Just 12% of Mirvac's apartment projects are impaired while 20% of infill master-planned communities are impaired.
Mirvac has begun construction of its latest Docklands apartment project, Yarra's Edge with 54% of the apartments sold off-the-plan.
Settlements are scheduled in 2016.
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Paying too much for residential land among four lessons learned: Mirvac boss Susan Lloyd-Hurwitz

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NAB has picked up market share in the housing market while also reporting a rise in net interest margins on home loans and other personal banking products as it reported a $2.9 billion first-half interim profit for the six months to March 31.
The result was up 3% on the corresponding period last year and completes the major bank interim results reporting season after <a href="/news">ANZ </a>and <a href="/news">Westpac</a> both reported a 10% rise in interim profits for the six months to March last week.
The<a href="/news"> Commonwealth Bank </a>reported a 1% rise in its interim results to December 31 in February meaning the combined half-year profits of the big four banks is over $13 billion.
Commonwealth Bank, Westpac and NAB have all passed on the May rate cut in full with ANZ to make its announcement tomorrow.
NAB grew its home loan book by 5% over the reporting period from $139 billion to $147 billion.
Net interest margins in its personal banking division (mortgages, deposits, credit cards) increased by 15 basis points compared with the March 2012 corresponding period rising to 2.09%.
NAB’s share of the home loan market grew by 15% to 15.2% over the report period.
A year-and-half ago its share of the market was 14.5%.
There was a slight increase in mortgages more than 90 days in arrears up from 0.52% to 0.54% of total outstanding NAB mortgages.
Customer deposits picked up by 7.2% to reach $89 billion.
NAB CEO Cameron Clyne highlighted the “good result” in the personal banking division with further strengthening of the bank’s position in home lending and customer deposits on the back of its “differentiated customer proposition”.
He called it a “solid” March half-year result.
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NAB grows mortgage market share as interim profits rise to $2.9 billion

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The housing market will strengthen further - probably from 2014 - with gains of between 5% and 7% tipped by Australian Property Monitors’ (APM) chief economist Andrew Wilson.
However, Wilson is sticking with his recent 2013 forecast made at the start of the year of a 3% to 5% rise in house prices over 2013.
“I still think that’s the case, 5% to 7% is the next increment but I don’t think we will see that this year,” he told The Australian Financial Review.
RP Data-Rismark has dwelling values across the eight capital cities up 2.3% for the first four months of the year.
ABS preliminary figures for the March quarter recorded just a 0.1% gain in its capital city house price index - for detached houses only.
Wilson bases his higher post-2013 forecast on historical trends, where lower interest rates driving up house prices, but with a small time lag.
He also made the interesting observation that a rise in interest rates could have spurred on a “boost” in house prices in growing markets like Sydney, Perth and Darwin.
A rise in interest rates, he says, spurs on some people to act over fears rates will rise again.
Wilson wrote in the February APM housing market report that Australia’s housing markets started 2013 “encouragingly with solid indications of rising buyer activity and increased confidence from sellers”.
“The revival of Australia’s housing markets in 2012 has been confirmed as leading indicators such as auction clearance rates point to a market heating up.
“Australia’s housing markets are off and running in 2013, building on the buyer momentum generated through 2012 but now translating to more generalised and comprehensive market outcomes,” he said.
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House prices could rise up to 7% in 2014: APM’s Andrew Wilson

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Confidence about the housing market has surged to its highest level in almost three years, with nearly one in two Australians (49.8%) now expecting house prices to rise over the next quarter, according to the latest Home Finance Index commissioned by the Commonwealth Bank and the Mortgage and Finance Association of Australia (MFAA). 
This is the highest confidence level since the July 2010 survey when 52.2% of those surveyed expected house prices to rise over the following quarter and a substantial rise from the 28.9% who were optimistic in the September 2012 quarter and double the number in March 2012 (25%).
The results of the March 2013 survey, carried out by CoreData, are based on the sentiments of 1,361 home buyers and prospective home buyers. 
A high proportion of March 2013 respondents – 40.4% - expect no changes in house prices over the coming quarter, but just one in ten expect house prices to fall, the lowest percentage expecting a decline in prices since March 2010. 
Click to enlarge
<a href="/images/stories/2013/05/confidencemay9one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/05/confidencemay9onethumb.gif"></a>
Source: CoreData
Other findings of the survey also point to greater confidence about the housing market including that 83% of those surveyed who own homes believing now is a good time to buy an investment property compared with 78% in September 2012 and 74% in March 2012.
There was also a surge in the number of respondents who plan to change or upgrade their home. 
More than three-quarters (77.2%) of those respondents who owned a home said they planned to change or upgrade their home compared with less than two-thirds (62.4%) in the September 2012 survey and 67% in March 2012. 
Among prospective first-home buyers, 48.8% of believe now is a good time to buy compared with 42.2% in September 2012 with confidence rising strongly in NSW (from 40% to 50%), South Australia (40.6% to 51.9%) and to a lesser extent in Victoria (39% to 43.8%). 
More than three-quarters of borrowers (76.9%) said they were ahead of their mortgage repayments with only 16.5% saying they were struggling to make payments and 5% admitting to making late payments. Just 1% said they were more than a month behind in their mortgage repayments.
The rising confidence about the housing market came at the same time as people’s financial situations improved combined with a rise in the number of active buyers looking for a home loan over the next year. 
Nearly a third of respondents (30.8%) said their financial situation has improved over the last year – a rise of 14% over March, 2012. 
One in five (18.9%) said they were in the market for a home loan over the next year, up from 12.7% a year ago. 
Mortgage &amp; Finance Association of Australia chief executive officer Phil Naylor says the survey shows that the property market is “definitely recovering, with sentiment of both first home buyers and investors improving dramatically”. 
A similar sentiment is echoed by Kathy Cummings, head of third party banking at the Commonwealth Bank, who says the property market is all about confidence. 
She says the survey confirms that “good times are ahead, especially as interest rates continue to be at historic low levels, creating a situation where mortgage repayments are more affordable than rents in many areas”.
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Housing market confidence rises to highest since July 2010: CBA/MFAA index

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House prices rising unevenly, mortgage lending trending up among investors and upgraders but not among first-home buyers, building approvals volatile but trending down and the world economy slowing down with the euro zone facing unemployment strife.
The latest edition of the comprehensive RBA chart pack provides an indication of the range of different factors the monetary policy committee had to take into account when deciding to cut the cash rate to a historical low of 2.75%.
Of most interest to investors and homeowners will be the improving housing market picture with house prices trending up fairly strongly though unevenly in Sydney, Melbourne, Perth and Brisbane:
<img alt="rbahousepricesmay9one" height="379" width="470" src="/images/stories/2013/05/rbahousepricesmay9one.gif">
However, building approval figures, an indication of future demand for new homes and apartments, remain volatile with an overall downward trend in evidence, particurlarly in the key detached new housing market.
RBA governor Glenn Stevens reported only a “modest firming in dwelling investment” in his post-decision monetary policy statement on Tuesday:
<img alt="rbabuildingapprovalsmay9one" height="379" width="470" src="/images/stories/2013/05/rbabuildingapprovalsmay9one.gif">
However, the mortgage market appears to be picking up slowly, but not among the key first-home buyer market where changes to state incentives favouring new homes over existing homes appears to be having a dampening effect:
<img alt="rbaloanapprovalsmay9one" height="377" width="470" src="/images/stories/2013/05/rbaloanapprovalsmay9one.gif">
The pick-up in mortgage lending is being driven by low variable mortgage rates and the record low cash rate, though the graph below shows rates are still off their 2009 variable rate lows, a reflection of banks not passing on prior rate cuts in full:
<img src="/images/stories/2013/05/rbavariableratesmay9one.gif" width="470" height="396" alt="rbavariableratesmay9one">
With lenders continuing to cut their fixed-rate offerings to try and lock in more conservatively-minded borrowers, three-year fixed-rates are at historical lows as this graph shows:
<img src="/images/stories/2013/05/rbafixedratesmay9one.gif" width="470" height="392" alt="rbafixedratesmay9one">
The chart pack also shows that global conditions are declining with the world economy set to expand by just 3%, though conditions are better for Australia’s trading partners:
<img alt="rbaworldgdpmay9one" height="433" width="470" src="/images/stories/2013/05/rbaworldgdpmay9one.gif">
This graph shows the trend of rising unemployment in the eurozone, but employment conditions improving in the US and to a moderate extent, Japan.
<img alt="rbaunemploymentmay9one" height="383" width="470" src="/images/stories/2013/05/rbaunemploymentmay9one.gif">
Lastly, much of the commentary surrounding the decision to cut the cash rate has been about muting the effects of the high Australian dollar on exchange-rate dependent industries like retail, trade and manufacturing.
This graph shows the extent the currency has appreciated against the US dollar, Euro and Japanese Yen in recent years, though now off its peaks against the US dollar and euro:
<img alt="rbaexchangeratesmay9one" height="392" width="470" src="/images/stories/2013/05/rbaexchangeratesmay9one.gif">
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RBA paints mixed picture of local and global conditions, but with house prices and mortgage lending trending up

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A suitor has not emerged for Australand in the month since the property developer closed its data room, the Australian Financial Review has noted in its Street Talk column.
The data room refers to confidential information that is made available to selected interested parties, who may or may not make a bid for the Australand business.
Three weeks ago Australand boss Bob Johnston was talking of a deal being finalised within six weeks.
Australand rejected a $3 billion non-binding bid by GPT for its commercial and industrial property businesses – but not its residential property business - in December last year.
The last word on the bidding process was delivered by Australand chairman Oliver Lim and deputy CEO of Singapore-based CapitaLand, the 60% majority shareholder, on April 22 at the Australand AGM.
Lim noted at the AGM that Australand shares were trading at a signficant discount to their net asset backing making its 60% holding a potentially attractive investment option for a single institutional share trade.
He said "alternatives" to the GPT offer would be explored that may or may not result in a proposal for shareholders.
GPT was expected to make a higher offer for Australand in February after its annual results were published, but has yet to do so, perhaps caught up in resolving its <a target="_blank" href="/news">class action lawsuit with a group of investor</a>, only settled today with a $75 million conditional agreement.
A month before, in January, CapitaLand announced it would undertake a strategic review of its investment in Australand with a possible block sale of its shares one possibility.
The last official word on a better offer for Australand was delivered by GPT chief executive Michael Cameron, who said at the group’s annual results briefing that he wouldn’t be talking about Australand but that GPT was “committed to advancing a proposal that is in the best interests of Australand and GPT securityholders”.
Street Talk speculates that a block trade of CapitaLand’s stake would “test the market’s appetite for listed real estate”.
The Australand share price has been on an upwards trajectory since GPT’s failed December bid rising from around $2.85 to currently trade above $3.64.
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Bid trail for Australand goes cold as no fresh GPT offer emerges

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Anyone driving down the Chapel Street retail strip last week could have been forgiven for wondering if there was a run on the bank when a large crowd gathered outside the NAB branch.
In fact they'd gathered to attend an auction of the bank's premises.
Fitzroys agent Charles Emmett who alongside colleague David Bourke marketed the two-storey premise at 600 Chapel Street estimates a crowed of around 200 people gathered to watch the property sell under the hammer to a private Melbourne investor for $12.825 million.
<img alt="nabmay9one" height="312" width="470" src="/images/stories/2013/05/nabmay9one.jpg">
“A lot of people were behind the photographer,” he tells Property Observer.
“It was a very big crowd.”
There were close to 160 enquiries registered over the course of the auction campaign and six under-bidders on the day.
Emmett says the price achieved, representing a yield of 4.6%, was above expectations with the building bringing in total income of $591,686 per annum.
The premises have been occupied by NAB since 1951 and last sold for $3.59 million in 1997.
The sale price equates to a compound annual growth rate of around 8%.
The bank occupies the ground floor of the property on five-plus-five year lease currently returning $506,115 per annum plus GST.
The first floor comprises commercial offices and is leased to Jagen Pty Ltd on a four-year deal beginning February 2010, and returning $85,571 per annum plus GST.
Emmett says he has sold quite a few retail premises on prominent retail strips since the start of the year including in the CBD, in Armadale, Camberwell and Prahan.
“There has been a surge in demand for retail investment property,” he says.
“Demand for retail property within close proximity to South Yarra’s high density ‘Forrest Hill’ precinct is at an all-time high as investors seek to leverage their returns off the strong local population growth fuelled by the dozens of new apartment towers in the area,” he adds.
In September last year, a refurbished two-storey retail strip property in Sydney’s Hurstville leased to NAB sold for $9.01 million at auction on  yield of 5.85%.
Also in September last year, a historic Parramatta bank, tenanted by Westpac, <a target="_blank" href="https://www.propertyobserver.com.au/commercial/historic-parramatta-bank-sells-for-%2471-million/2012090956450">sold for $7.1 million to a Hong Kong-based investor.</a>
A more recent bank branch sale was the premises of an <a target="_blank" href="/news">ANZ bank branch in the Victorian heritage country town of Korumburra</a> in South East Gippsland has sold at auction today for $462,000.
It had pre-auction hopes of around $325,000 with bids starting $300,000.
There were around six bidders and the property sold on a yield of around 5.2%.
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NAB branch auction brings the crowds to Chapel Street and sells under the hammer for $12.825 million 

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Online mortgage lender loans.com.au is offering a variable home loan rate for new dwelling purchases of 4.75% after passing on the full RBA rate cut. 
The product is called a ‘Blackboard special” home loan, has a comparison rate of 4.77%, and is only available until May 20. 
Loans.com.au, the online arm of wholesale lender FirstMac, claims the 4.75% rate matches home loan rates in 1957. 
Loans.com.au is also offering a 4.87% refinancing rate (4.89% comparison rate) under its Dream Loan Express offer. 
Both products require a minimum 20% deposit.
It has also reduced its three-year fixed rate of 4.99% (4.91% comparison rate). 
Loans.com.au managing director Marie Mortimer said the new rates should make people consider whether they were paying too much for their home loans. 
“We have reduced home loan lending rates to the same levels as Australia in the late 1950s,” she said. 
She says many competitors had previously claimed to have broken the 5% barrier, only to be pushed back over 5% after comparison rates.
Comparison rates factor in fees and other costs into the home loan rate.
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Loans.com.au offers 4.75% limited-time variable rate offer after passing on full rate cut

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Mortgage lender RAMS will pass on the full 25 basis points to variable mortgage rate holders.
The lender's standard variable rate will reduce from 6.35% p.a. to 6.10% p.a. (comparison rate 6.17% p.a.) from May 13.
RAMS points out that this rate is lower than the big four banks - 16 points lower than Westpac's 6.26%, owner of RAMS.
“This latest interest rate reduction will bring further financial relief for many Australian mortgage holders who are concerned about uncertainty in the economy and fears of unemployment,” says RAMS chief executive, Melos Sulicich.
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RAMS passes on full rate cut to borrowers

<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.

&nbsp;

[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.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

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

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

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