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Australia's biggest home loan provider Commonwealth Bank has joined NAB and ING Direct by passing on the full 25 basis point rate cut to borrowers. 
It announced its decision at 4pm, more than an hour after NAB and half an hour after ING Direct.
The new standard variable rate is 6.15% per annum effective from May 13. 
Matt Comyn, group executive retail banking services said: "The Commonwealth Bank believes that this is a balanced decision taking into account both domestic and offshore factors." 
The new variable home loan interest rates will be effective for new and existing customers 13 May 2013.
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Commmonwealth Bank passes on full rate cut to offer 6.15% standard variable rate

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UBank, the online offering from NAB, will offer eligible borrowers the opportunity to refinance their home loan at a discounted variable rate of 4.87%.
NAB announced today that it would cut its standard variable rate for the online-only UHomeLoan by 25 basis points.
UBank confirmed via Twitter that its current variable rate is dropping from "5.37%p.a by 0.25%p.a.
Eligible customers can receive an additional 0.25%p.a".
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/Ubank_tweet.jpg" alt="Ubank_tweet" width="500" height="64">
This would mean an online refinancing offer of 4.87%, by far the lowest variable offering of the major bank brands and one of the sharpest rates in the market.
The bank currently offers for a limited time a 5.12% variable home loan rate, which includes a 25 basis point upfront discount.
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UBank to offer 4.87% refinancing home loan rate from May 13

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<img src="/images/stories/2012/10/kflogo.jpg">
Knight Frank's Mathew Cassidy says he would invest a spare $750,000 in a couple of two-bedroom apartments in Brisbane’s CBD.
<img style="margin: 5px; float: left;" src="/images/stories/2013/03/mathewcassidy.png" width="228" height="225" alt="mathewcassidy">Agent: Mathew Cassidy

Position: Project marketing manager

Company: Knight Frank

Office location: Queensland

How long have you been in the industry?

I’ve been in the real estate industry for about 15 years, and I’ve specialized in development project marketing for the vast majority of the time. What’s happening in the area you specialise in?

Right now’s an exciting time, most developers have a really good handle on the realities of delivering projects effectively post GFC. It’s great to finally have a stable market. Personally, I love how creative we need to be in order to ensure developments sell fast and target every possible purchaser. In particular, Asia is doing very well at selling international projects within our network. Describe the most interesting property you have sold

For me that’d have to be The Oracle at Broadbeach on the Gold Coast. It’s an icon. The developer had incredible vision, fortitude and nous. I recommend anyone who visits the Gold Coast should stay and dine there, it’s sure to impress. What are the ingredients to being successful in your job?

The best advice I ever got was this, “If every single decision you make is designed to maximise the developer’s return on investment then you can always hold you head high.” Another important ingredient is to success is being aware of what you don’t know and have no qualms about admitting so. However, it’s important to know exactly who to contact to broaden your knowledge base. To simplify, always learn. Nobody knows it all, but it’s worth it to try. What aspects of your role do you enjoy the most?

I love the fact that every day poses its own individual challenges. I also very much enjoy the boardroom discussions in various locations around Australia. There’s some truly remarkable visionaries out there who show no fear and have adapted to the new world order in development very well. It’s humbling to sit in the same room as these people and hold deep, frank and honest discussions. Australia is in some good hands going forward in the development industry. Where would you invest a spare $750,000?

Simple, I’d buy two two-bedroom apartments in Brisbane’s CBD. I would make sure they both had two car spaces and were unique in some way such as large balconies, river views, storage. I think Brisbane is amazing for buying right now with rent remaining solid and space in the CBD at a premium. Which football team do you support?

Depends on the code. Hawthorn for AFL and the Titans for NRL What’s your favourite app or techno gadget?

My favourite app is Coastalwatch Lite. I relax by chasing any swell event and surfing it. This app gives me 5 day forecasts, current photos of most places in Australia, live wind and swell information.
How do you use social media?

In my professional life, I use social media for every area and constantly looking for ways to use it to maximise sales, reporting and mapping of market trends. </body></html>

In profile: Knight Frank's Queensland project marketing manager Mathew Cassidy

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The big four banks have held back 20% of the Reserve Bank’s rate cuts since May 2012 but have no excuses not to pass on today’s 25 basis point rate cut in full, according to mortgage comparison website Mozo.com.au

Prior to today's announcement, Mozo points out that the average big four bank standard variable home loan rate has fallen just 0.98% against the RBA's 1.25% cut over the last 12 months.

This has cost the average borrower with a $330,000 home loan $635 in missed savings over this period.

The Big Four standard variable rate of 6.42% - now 6.36% after<a target="_blank" href="/news"> NAB cut its standard variable rate to 6.13%</a> - is 39 basis points higher than the market average standard variable rate of 6.03%.

Mozo managing director Rohan Gamble believes the major banks are out of excuses to explain the gap.

“With the banks reporting bumper profits this month and wholesale funding costs back to pre-GFC levels, the Big Four have run out of excuses for not passing through the full rate cut to borrowers," Rohan says.

“Holding back on rate cuts now after announcing record profits would be monumentally hypocritical and a slap in the face for every long-suffering customer.

“I believe the banks will lose a lot of customers if they hold back on rate cuts this time. Home loan comparison is already going through the roof in 2013 as low interest rates stimulate borrowers to refinance to get the best possible rate, and competition from online lenders is absolutely booming.”


Currently the lowest variable home loan rate available to refinancers is 5.09%, so an RBA cut should allow borrowers to access variable rates below 5.00% from the most competitive lenders.

Fixed rates are also continuing to drop and Rohan believes the fierce competition on the fixed rate front is far from over, with further cuts ahead.

"It's not unlikely that fixed rate mortgages could drop another 0.25% over the next few months, so they may not have bottomed as many people thought. When the banks talk of moving fixed rate mortgage rates down they suggest they expect another rate cut," Rohan says.

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Major banks have "no excuses" but to pass on rate cut in full: Mozo

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National Australia Bank today announced it would cut its standard variable home loan rate by 0.25%p.a. to 6.13%p.a. 
It took just 15 minutes for the bank to announce its decision in comparison with previous decisions which have taken days.
The new rate is effective from Monday 13 May.
<img src="/images/stories/2013/05/nabnewratemay7one.jpg" width="470" height="159" alt="nabnewratemay7one">
NAB will also reduce its rate on standard variable business rate lending products by 0.25%p.a. UBank, backed by NAB, also announced it would cut its standard variable rate for the online-only UHomeLoan by 0.25%p.a.
The reduction saves customers $62.50 per month in interest on the average $300,000 home loan. Gavin Slater, group executive personal banking said NAB was committed to being competitive. “For 46 months NAB has had the lowest standard variable rate of the major banks. As a result, NAB customers on a typical mortgage have saved up to $2,060 in interest on NAB’s SVR compared to being on the SVR of the other major banks,” he said. “We recognise that certainty is important for our customers, which is why we are pleased to be able to quickly pass on a 25 basis point reduction.   “We have a strong track record of being competitive. We led the industry in abolishing the most complained about fees, we’ve made our credit card payments fairer and maintained the lowest standard variable rate of the majors for nearly four years.” 
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NAB passes on full rate cut to offer 6.13% standard variable rate

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There were only eight economists surveyed by Bloomberg, who correctly tipped the RBA to cut the cash rate to 2.75% today.
All the major bank economists and 17 other economists expected the RBA to hold firm.
These are the eight who got it right:
<img alt="bnpparibas" height="113" width="200" src="/images/stories/2013/05/bnpparibas.jpg">
BNP Paribas  - Dominic Bryant
<img alt="btfinancial" height="113" width="200" src="/images/stories/2013/05/btfinancial.jpg">
BT Financial Group - Chris Caton
<img alt="citi" height="113" width="200" src="/images/stories/2013/05/citi.jpg">
Citi - Joshua Williamson
<img alt="deutschebank" height="113" width="200" src="/images/stories/2013/05/deutschebank.jpg">
Deutsche Bank - Adam Boyton
<img alt="goldman-sachs" height="98" width="200" src="/images/stories/2013/05/goldman-sachs.jpg">
Goldman Sachs - Tim Toohey
<img alt="macquariebank" height="236" width="200" src="/images/stories/2013/05/macquariebank.jpg">
Macquarie Bank - Richard Gibbs
<img alt="marketeconomics" height="62" width="200" src="/images/stories/2013/05/marketeconomics.jpg">
Market Economics - Stephen Koukoulas
<img alt="qic" height="104" width="200" src="/images/stories/2013/05/qic.jpg">
QIC - Matthew Peter
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Caton, Gibbs and the Kouk - head the eight economists who got it right as the RBA cuts the May cash rate

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The Reserve Bank has cut the cash rate by 25 basis points to 2.75% today, the lowest setting for the benchmark rate in 53 years.
The previous lowest cash rate was <a target="_blank" href="/news">2.89% in January 1960</a> based on proxy historical RBA data going back to 1959. 
The cash rate is now lower than it was post-GFC, when the RBA took emergency steps to encourage borrowing and spending with big 100 basis point rate cuts.
Today, ABS preliminary data had capital city house prices up just 0.1% over the March quarter following a strong December quarter, revised up to a 2% gain. 
Yesterday, retail sales fell by an unexpected 0.4% over March after a 1.3% rise in February. 
The housing and retail sectors are two of the key non-mining sectors that the RBA will expect to pick up some of the slack from the resources investment approaching its peak. 
RP Data national research director Tim Lawless says while the RBA would be “reasonably comfortable with the pace of the housing market recovery” what may have been most concerning to the RBA is the “pace of dwelling construction and consumer appetite for newly constructed homes”. 
“Dwelling approvals and commencements remains weak and although new home sales have improved, according to the HIA, the number sold remains historically low. 
“If we are to see the construction sector pick up where the mining boom is leaving off, lower interest rates may be the catalyst that is required,” he said.
Alex Parsons, CEO of financial comparison website RateCity.com.au, says today’s cash rate drop is great news for variable borrowers if lenders pass on the full cut to their customers.
"With today’s cut making it the seventh since November 2011, variable rate borrowers, which are the majority of the home loan market, are paying much more interest compared to the cash rate.
"In fact, the gap between the benchmark standard variable rate – the average of the major four banks – and the cash rate has almost doubled (88 percent) over the past decade. The benchmark standard variable rate is currently 6.42 percent. While this is the lowest level since December 2009, it is still 3.42 percentage points above the cash rate and the biggest spread we’ve ever seen," he says.
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RBA cuts the cash rate to 53-year-low of 2.75%

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Established house prices, including those in Sydney, stagnated over the first three months of the year with just a 0.1% gain across the eight capital cities, according to preliminary estimates of the latest ABS house price indexes. 
The results show that established capital city housing markets are operating at different speeds with the strongest performers over the March quarter being Perth (+1.2%) and Darwin (+1.9%). 
"Clusters with median prices below $800,000 contributed most to the rise in the March quarter 2013," says the ABS of the Perth increase with the Darwin increase attributed to clusters with median prices below $600,000.
Sydney recorded no change in its established house price index, with small gains in Melbourne (+0.2%) and Canberra (+0.2%) over the quarter and small corrections in Brisbane (-0.3%), Adelaide (-0.1%) and Hobart (-0.3%). 
The ABS said clusters with median prices between $680,000 and $1,100,000 contributed most to the small rise in Melbourne house prices.
While of a preliminary nature and subject to revisions, the quarterly results may be factored into the RBA's decision on the cash rate, due to be announced at 2.30pm today.
Annually, house prices rose in Darwin (+8.0%), Perth (+6.1%), Sydney (+3.6%), Canberra (+1.5%), Brisbane (+1.4%), Melbourne (+1.1%) and Adelaide (+0.9%) and fell in Hobart (-1.9%).
The stagnation in house prices in the first three months of the year follow the ABS recording a revised 2% gain in its established house price index over the December quarter having previously reported a 1.6% gain in preliminary figures.
The positive movement in the December quarter 2012 was the result of rises in Sydney (+2.3%, unchanged), Melbourne (+1.8%, revised from +0.7%), Perth (+3.1%, revised from +2.9%), Brisbane (+1.0%, revised from +0.7%), Adelaide (+1.1%, revised from +0.8%), Canberra (+2.8%, revised from +2.1%) and Darwin (+3.0%, revised from +2.6%). This was partially offset by a fall in Hobart (-0.5%, revised from -1.4%).
The ABS figures contrast sharply with RP Data-Rismark figures, which recorded a 2.9% rise in detached house values across the combined capital cities over the March quater with Hobart the best performing capital city with a 6% gain and Adelaide the worst, falling 0.8%. 
RP Data had a cumulative capital gain in dwelling values in the year to March at 2.4% and up 4.7% since the market bottomed out in May last year.
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Established house prices stagnate in March quarter, but with good gains in Perth and Darwin: ABS

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Shopping centre landlord Federation Centres, <a href="https://www.propertyobserver.com.au/retail/centro-seeks-clean-break-with-the-past-with-name-change-to-federation-centres/2012120958372" target="_blank">previously called Centro Retail Australia</a>, has purchased the Centro Gympie shopping centre in Queensland for $64 million.
The mall was previously held by the Centro MCS 9 property investment syndicate. 
It is now wholly owned by Retail Direct Property, the direct property division of Federation Centres with its purchase part of ongoing plans to simplify the complex syndicate business it operated previously as the debt-laden Centro property group. 
Centro Gympie is located at the corner of Bruce Highway and Excelsior Road in Gympie.
It has a gross lettable area of 14,054 square metres and offers 752 car spaces. Big W and Woolworths are anchor tenants on the property. 
Gympie is a regional town in the Wide Bay-Burnett region of Queensland, Australia. It is about 160 kilometres north of Brisbane, and has a population of 18,602 according to the 2011 Census. 
Federation Centres reported an <a target="_blank" href="https://www.propertyobserver.com.au/retail/federation-centres-emerges-from-centro-with-stronger-balance-sheet-and-back-in-the-black/2013021959432">interim net profit $115.91 million for the six months to December 31</a> 2012 – its first complete first-half results under its new brand name. 
In the prior corresponding period, then known as Centro Retail Australia, it reported a loss of $100 million for the six months to December 2011. 
Federation Centres plans to buy other syndicated malls, spending $650 million on such acquisitions thus far. 
Other properties under the Centro MCS 9 syndicate which have been purchased by Federation Centres include Centro Dianella in Western Australia, which it bought for $54 million. 
Federation Centres also acquired full-ownership of the $570 million Bankstown shopping centre in NSW. 
Last month Goldman Sachs upgraded its recommendation on Federation Centres from ‘neutral’ to ‘buy’ with factors behind this upgrade including the ongoing simplification of its syndicates business, asset acquisitions, non-core asset disposals and the rollout of its $1.1bn development pipeline.
Federation Centres plans to develop 16 shopping centres over the next five years.
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Federation Centres buys Centro Gympie for $64 million

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The Reserve Bank of Australia should leave the cash rate unchanged at 3% today, according to 'shadow' RBA board members.
However, some of the nine shadow board members see evidence for lower rates now, and in the future while others believe the cash rate should rise.
The graph below shows that 60% of shadow RBA board preferences are for a 3% cash rate with over 20% preferring a cash rate of 2.75% and 10% a cash rate of 3.25%.
<img src="/images/stories/2013/05/shadowboardmay7one.gif" width="470" height="408" alt="shadowboardmay7one"> Source: <a href="https://theconversation.com/" target="_blank">The Conversation</a>
The board is comprised of economists and academics that meet under the banner of the Centre for Applied Macroeconomic Analysis (CAMA) at Australia National University and are asked to rank their preferences for the cash rate before every RBA monthly monetary policy meeting.
The consensus view on interest rates among the shadow board has been for a rate hold in March and April after a February view that the future direction of rates was up.
Shadow board member, HSBC Australia chief economist Paul Bloxham, is in favour of rates remaining on hold despite inflation being low enough to allow the RBA to cut rates further if needed.
He says rates are “already very low and there are signs that monetary policy is working”.
“Lower rates could also risk creating other problems, such as excessive growth in housing prices.
“While a further cut in rates could be needed to support growth at some point, I think there are enough signs that the setting of monetary policy is getting enough traction to warrant leaving the cash rate steady this month,” he says.
Shadow board member Mardi Dungey, professor at the University of Tasmania, says the weakening economy has caused her to lower her expectations of future inflationary pressures and hence alter her longer term projections.
“However, I recommend retaining the current stance in May,” she says.
Former RBA board member Warwick McKibbin and now shadow board member says “cutting interest rates in the face of rising inflation of goods and/or asset prices would undermine monetary credibility and risks unhinging inflationary expectations”.
“Holding interest rates is the least bad option in this complex environment.”
Shadow board member Bob Gregory gave an equal weighting to a rate cut and a rate hold, but did not provide commentary to his views.
The full shadow board is:
Paul Bloxham, Chief Economist (Australia &amp; New Zealand), HSBC Bank Australia Ltd
Mark Crosby, Dean of the Global MBA Program, Acting Dean of the Global BBA Program, and Professor of Economics, S P Jain Center of Management in Singapore
Mardi Dungey, Professor, University of Tasmania, CFAP University of Cambridge, CAMA
Saul Eslake, Chief Economist, Bank of America Merrill Lynch Australia
Bob Gregory, Professor Emeritus, RSE, ANU, Professorial Fellow, Centre for Strategic Economic Studies, Victoria University, Adjunct Professor, School of Economics &amp; Finance, Queensland University of Technology
Warwick McKibbin, Professor, RSE, ANU, CAMA
James Morley, Professor, University of New South Wales, CAMA
Jeffrey Sheen, Professor &amp; Head, Department of Economics, Macquarie University,Editor, The Economic Record, CAMA
Mark Thirlwell, Director, International Economy Program, Lowy Institute for International Policy
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Cash rate should remain on hold for now says shadow RBA board

<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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