<html><body>
Mortgage broker alliances helped Macquarie Group grow its Australian mortgage portfolio by $1 billion (9%) to reach $11.8 billion for the year to March 31, the investment bank has revealed in its annual results today.
Its home loans are distributed through John Symond’s Aussie Home Loans business, AFG, Vow, Mortgage Choice and Mark Bouris’s Yellow Brick Road after it formed a mortgage distribution alliance with the franchise group in November.
This compares to just <a href="/news">1% growth in Westpac’s mortgage book</a> over the six month period to March 31, also announced today.
<a href="/news">ANZ grew its mortgage book by 2%</a> over the same six-month time frame.
Macquarie reported a 17% rise in net profit to $851 million in the year ended March 31, driven by improved market conditions and reduced costs.
This is the first time profits have risen in three years.
The growth was assisted by the bank offering a 1.01 percentage point discount off the standard variable rate over the life of its home loans through its third-party distribution channels.
Macquarie’s banking and financial services group paid $86 million in fees and commission to mortgage originators and mortgage brokers to distribute its home loan offerings over the course of the year.
It also acquired a stake in listed non-bank lender Homeloans Limited in April last year.
Macquarie will pay shareholders a full-year dividend of $2 per share.
Chief executive Nicholas Moore said global market conditions had improved generally during the year and together with “strong cost-controls across the group leading to the improved result”.
</body></html>

lschlesinger-FZcF9M3vE6

Branchless Macquarie grows its mortgage book by 9% through brokers 

<html><body>
Nearly a quarter (24%) of Westpac customers fixed their home loan rate in the six months to March 31, the latest interim results reveal.
This was up from just 13% in the previous six month period.
The jump in fixed-rate demand came after Westpac cut its two year fixed-rate to 4.99% for a short period between February and March, the first major bank to offer a sub-5% fixed-rate since September 2009.
Lending to investors picked up to 45.6% and loans to first-home buyers fell marginally to 11.1%.
Borrowers stumped up a hefty 30% deposit on average for a Westpac mortgage.
<img alt="westpac_porfolio" height="484" width="454" src="/images/stories/april23tivoli/westpac_porfolio.jpg">
1 Represents Westfield Retail Bank brands (WRBB) and St.George (including RAMS). 2 Flow is all new mortgage originations total settled amount originated during the 6 month period ended 31 March 2013 and includes RAMS. 3. Excludes RAMS. 4. Dynamic LVR represents the loan-to-value ratio taking into account the current outstanding loan balance, changes in security value and other loan adjustments. 5 Property valuation source Australian Property Monitors. 6. Average LVR of new loans is based on rolling 12 month window for each year end period. 7. Customer loans ahead on payments exclude equity/line of credit products as there are no scheduled principal payments. 8 Mortgage insurance claims 1H13 $10m (2H12 $17m and 1H12 $13m). 9 ABA Cannex August 2012
</body></html>

A quarter of new Westpac mortgages fixed as borrowers stump up 30% deposits: anatomy of its $321 billion home loan book

<html><body>
Westpac has reported a 10% rise in first-half cash earnings to $3.52 billion despite what it called “challenging" conditions for the six months to March 31.
It is the second of the big four banks to release financial results in the current reporting season, following <a href="/news">ANZ beating analysts’ expectation</a> and posting a 10% rise in first-half cash profit to $3.2 billion for the six months to March 31.
Westpac mortgage lending lifted just 1% over the six month period with particurlarly strong growth through its Bank of Melbourne brand, which has aggressively promoted its discounted home loans.
The report notes that growth in new lending was “partly offset by high run-off as customers use lower rates to repay faster”.
"Including mortgage offset account balances, 70% of customers are ahead of scheduled payments, with 20% of these being more than two years ahead," says Westpac.
"Excluding mortgage offset account balances, 56% of Australian mortgage customers are ahead of scheduled payments."
The bank strengthened its balance sheet with customer deposits up 12% rising from 67.6% to 69% of loans.
The bank has a $321.9 billion housing loan book of which 48% are owner occupier mortgages, 42% are investment loans and 10% portfolio/line of credit loans.
First-home buyers make up 12% of its mortgage book.
Other mortgage results:
<ul>
<li>90+ days delinquencies remain at low levels at 0.58%, up 6 basis points on the previous six months.</li>
<li>30+ days delinquencies are 1.43%, up 24 basis points "reflecting normal seasonal trends"</li>
<li>248 property repossessed as of March 2013, down from 289 at September 2012 and 423 at March 2012</li>
<li>Portfolio losses total $52 million or 0.03% of the mortgage portfolio</li>
</ul>
</body></html>

Westpac earnings rise 10% but mortgage lending slows as borrowers pay off loans faster

<html><body>
Australian property investors thinking of investing in the US, but perhaps considering it too risky, can look before they buy courtesy of a series of walking tour guides provided by Dixon Advisory’s ASX-listed US Masters Residential Property Fund
The walking tour guides, complete with neighbourhood histories, landmarks and details of fund investments, provide a detailed insight into a number of markets around Manhattan including Brooklyn and Harlem.
Investors can tap into the knowledge provided by the fund’s US-based team but with an Australian investment slant.
The fund has to date spent $240 million purchasing 475 freestanding properties – mostly sub-divided houses in Downtown Jersey city, Brooklyn and Harlem – since launching in mid-2011, renovated them and rented them out as 1,063 separate apartments.
It has also acquired 15 apartment complexes.
The funds have been raised from <a target="_blank" href="https://www.propertyobserver.com.au/overseas/dixon-advisory-attracts-815-more-aussies-to-take-a-punt-on-us-housing-investment/2011112952603">Dixon Advisory’s investor client base</a> with another $50 million capital raising launched in April.
Harlem may seem an unlikely investment location, but the fund has identified it as a region with "great potential".
In January it purchased a fully renovated five-storey limestone mansion at St Nicholas Avenue &amp; West 146th Street in Harlem for US$1.82 million, which has two apartments (pictured below) bringing in estimated combined monthly rent of US$9,000 – an estimated net annual yield of 4%.
<img src="/images/stories/2013/05/dixonmay3one.jpg" width="400" height="575" alt="dixonmay3one">
The Harlem walking tour begins just one street down from this property at the 145th Street subway station and concludes at 137th Street with a zigzagging walk past fund investments and historical and cultural landmarks.
“Harlem has been home to many races and ethnic groups including the Dutch, Irish German, Italian, Latin Americans and Jewish communities,” says the walking guide, which explains that Harlem was settled in 1658 but was mainly farmland for the next 200 years until the expansion of the New York population.
 
<hr class="system-pagebreak">
Elevated railway lines were extended to Harlem in the 1880s and the first subway line completed under Lenox Avenue in 1904 resulting in the building of hundreds of tenement buildings.
The first African American migration to Harlem began in the 1890s with the guide telling the story of Phillip A. Payton, real estate agent and entrepreneur, who approached Harlem landlords with the idea of allowing African Americans to partially rent in their building  and is considered the father of “Black Harlem”.
Investors can read a short history of Harlem taking in the 1930s depression era, Harlem's slide into crime and poverty in the 1970s with the wholesale abandonment of many building, before a rapid period of gentrification and rising property values from the 1990s onwards.
The tour includes 12 stops, with the first half taking in its four property investments to date.
<img alt="dixonmay3three" height="316" width="400" src="/images/stories/2013/05/dixonmay3three.jpg">
<img alt="dixonmay3four" height="317" width="400" src="/images/stories/2013/05/dixonmay3four.jpg">
Stop 1 is the fund’s $1.8 million 722 St Nicholas Avenue investment, a five-storey mansion built in the 1920s close to Jackie Robinson park (the first African American to play in Major League Baseball, winning the World Series with the Brooklyn Dodgers in 1955), which offers two apartments (a two-bedroom and 3.5 bedroom) bringing in monthly rent of $9,000.
 
<hr class="system-pagebreak">
Second stop is an 1890s Thayer and Robinson Victorian Romanesque mansion at 719 St Nicholas Avenue (pictured below), acquired by the fund for $1.28 million. It has three apartments expected to bring in monthly rent of $13,400 on a yield of 4.9% currently being renovated by Dixon Projects. The guide notes that Nicholas Avenue is lined with “majestic historic Brownstone residences”.
<img alt="dixonmay3two" height="555" width="400" src="/images/stories/2013/05/dixonmay3two.jpg">
Next door at 721 St Nicholas Avenue (pictured below) is another historic fund purchase offering four apartments and with an expected yield of 6.3% based on monthly rent of $14,500.
<img src="/images/stories/2013/05/dixonmay3four1.jpg" width="400" height="653" alt="dixonmay3four1">
 
<hr class="system-pagebreak">
The final property investment included in the tour is a grand 1920s-built townhouse at 523 West 141st Street bought for $1.425 million and returning $9,600 per month from four apartments on a yield of 4.7%.
<img src="/images/stories/2013/05/dixonmay3six.jpg" width="400" height="571" alt="dixonmay3six">
The remainder of the tour takes in Harlem landmarks including the  Alexander Hamilton Grange National Memorial, the home of West Harlem’s founding father and an aid to George Washington during the American Revolution, who was fatally wounded in a duel in 1804, the Ivy League Columbia University dating back to 1754 with more Nobel Prize laureates than any other university in the world, the General Grant National Memorial, the Brownstone-lined  Doctors Row (Harlem’s answer to London’s Harley Street) and other noteworthy places.
The Dixon Advisory guide also includes walking tours showcasing its property acquisitions in in Downtown Jersey City (New Jersey), Hudson County (New Jersey) and Brooklyn.
The guide is available to download for free on the <a target="_blank" href="https://usmastersresidential.com.au/downloads/URF-WalkingTourPack130502.pdf">US Masters fund website.</a>
</body></html>

Thinking of buying in Harlem? Dixon Advisory provides Australian investors with tourist-style walking tour guide 

<html><body>
It will be a close call, but the Reserve Bank will leave the cash rate on hold at its May 7 monetary policy meeting on Tuesday, says HSBC Australia and New Zealand chief economist Paul Bloxham.
Bloxham says inflation is low enough for the RBA to consider a rate cut: but at the same time “demand is lifting, albeit modestly”.
“This month confirmed that inflation is low, which means the RBA has room to cut rates further. But interest rates are already low and are gaining some traction, so they may not feel they need to,” writes Bloxham in his latest RBA Observer report.
“This is why we expect them to leave rates on hold next week.
“But it’s a close call. Local and global data have softened in the past month. This will leave the RBA asking whether they have delivered enough stimulus, or, if more is needed?”
Bloxham notes yesterday’s <a target="_blank" href="https://www.propertyobserver.com.au/residential/dwelling-approvals-fall-55-in-march-led-by-nsw-and-victoria-abs/2013050260946?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">disappointing March building approvals data</a>, where approvals fell 5.5% in seasonally-adjusted terms and 1.2% in less volatile trend terms, led by falls in NSW and Victoria.
“Locally, the sectors that were responding to lower interest rates took a bit of a pause in the past month.
“Building approvals fell and housing prices and consumer sentiment eased back a bit. They are still well above their troughs, but are not racing away.
“The labour market also remains loose. Despite concerns about global commodity prices, Australia’s commodity price index remains at high levels with iron ore prices holding up well.
“We think they will hold steady next week and wait for further evidence that low rates are gaining traction. But, of course, with inflation low, there is always a risk that they cut,” he says.
Bloxham expects the cash rate to remain on hold over the remainder of the year, with a hike “pencilled in for early 2014”.
</body></html>

A close call as housing market pauses, but RBA likely to hold cash rate next week: HSBC’s Paul Bloxham

<html><body>
Vendors should not follow the herd and wait until spring to sell their homes, according to a survey of 25 real estate professionals who will be speaking at a series of property conference organised by Ideas Exchange, which begin in Melbourne today. 
Only 10% of respondents said they would recommend that vendors wait until the spring season with 90% recommending that vendors “Sell it whenever is convenient for you.” 
And respondents did not believe that vendors earned more if a property was sold during the busiest time of the year with 90% of respondents saying they believed you earned “about the same". 
A smaller, but overwhelming majority - 70% of respondents - believe that houses sold as fast at spring as during other times of the year, with only 10% saying they sold faster during spring.
Leanne Howard, managing director of the Real Estate Project, which owns Ideas Exchange, said the results show that every month can be an “equally good” time to sell. 
“This is valuable information for any agent meeting with a vendor this winter, and for any vendor meeting with an agent,” she says.
BradfieldCleary director and auctioneer Bob Guth agrees with these sentiments, blogging that for many years “we have achieved excellent results during winter months”
He quotes an article written by Carolyn Boyd from Talking Property, who says that arrival of cold weather in southern Australia does not mean people stop looking to buy. 
Alex Schiavo, director of Kay &amp; Burton South Yarra and Albert Park in Melbourne, is another estate agent who believes winter is a great time to sell based on the dynamics of supply and demand. 
“In winter there is always a lot less property available and we are still getting great results," he says. 
Cameron Deal from Infolio Property Advisors <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/why-selling-property-in-winter-and-buying-in-spring-makes-sense/2012080155808" target="_blank">told Melbourne Property TV last autumn</a> that a lot of property transacted through winter. 
“It’s sometimes better for a vendor to sell in winter because there’s less competition amongst other properties,” he says. 
A similar sentiment is echoed by Fletchers director Tim Fletcher, who says  if you decide to sell your most important asset over the winter period you’ll join a small number of people who are selling because most people either do it over autumn or spring.”
“So I think it’s a smart move to think about selling when there are fewer properties on the market.”
Information on the Ideas Exchange series of conferences in Melbourne, Brisbane and Sydney can be <a href="https://therealestateproject.com.au/ideas-exchange-2013/" target="_blank">found here.</a>
</body></html>

Winter may be a better time than spring to sell your property: survey

<html><body>
Private developers are being asked to submit proposals for ways to develop the Jolimont rail yards site known as Federation Square East on the north bank of the Yarra, where proposals date back to the 1970s.
The site is bounded by Federation Square to the west, Flinders Street to the north, Batman Avenue to the east and Birrarung Marr to the south and would require the building of a roof over the railway lines that currently take up the majority (2.3 hectares) of the 3.3 hectare site.
<img src="/images/stories/2013/05/fedsquaremay3four.jpg" width="470" height="350" alt="fedsquaremay3four">
The remaining hectare is currently used for car parking and associated uses.
“The Coalition Government is looking to harness the innovation and creativity of the private sector for proposals to develop this important site,” announced Victorian minister for major projects David Hodgett.
The state government is seeking a proposal for a “viable landmark development” that could result in a similar public-private partnership (PPP) structure that is facilitating the $2.5 billion redevelopment of the Darling Harbour convention centre with Lend Lease leading the project.
<img src="/images/stories/2013/05/fedsquaremay3three.jpg" width="470" height="247" alt="fedsquaremay3three">
The Victorian government is undertaking a world-wide search for proposals to transform what it calls a “black hole in the city landscape to a mixed-use precinct with a focus on civic functionality and improved connections with its surrounding areas”.
Hodgett acknowledges concerns expressed in the media that the project may prove too costly to ever complete.
A budget of $680 million has been suggested with $450 million coming from the state government.
“The Coalition Government acknowledges that there are challenges to developing this site in terms of cost and construction. We believe that industry is best placed to come up with innovative, value for money solutions.
“The aim is to find out what is possible and how much interest there is in developing the site. We do not have a predetermined outcome in mind.
“The responses provided will determine if there is sufficient appetite from the market and whether any project is viable enough to proceed further,” Hodgett says.
Both sides of state politics have failed to come up with a viable development proposal.
In 1979 Victorian Liberal premier Rupert Hamer announced a $100,000 competition to roof the Jolimont rail yards and bring international attention to the city. The competition committee, chaired by Ron Walker, chose 48 finalists from around 2,300 entries.
The winning designs went on public display in January 1980.
No single winner was chosen, the committee recommending a composite scheme featuring a large tower in a garden setting.
According to a 2001 document prepared by Melbourne historian Andrew Brown-May “critics lampooned the competition as an ill-conceived waste of time and resources, and each of the 48 finalists received a little over $2000 prize money.
“Judging panel member Professor Patrick McCaughey was appalled by the low standard of entries, describing the winners as demonstrations of 'a megalomania that makes the pyramids look like pimples'.”
Submissions included hanging gardens, an underwater gallery, a free-standing escalator, a series of 12 transparent arches, a solar-powered earth beam, a Freedom Bird Park, and a Time Tower.
In 2010, John Brumby’s Labor government came up with a $680 million proposal prepared by architectural firm LAB (designers of the Federation Square fractal building) including a plazas, parklands, schools and hotels built on a platform above the train lines.
The proposal (pictured below) was based on Chicago's Millennium Park on Lake Michigan.
<img src="/images/stories/2013/05/fedsquarelabarchmay3one.jpg" width="470" height="443" alt="fedsquarelabarchmay3one">
This proposal was lambasted by former premier Ted Bailleu, who, while in opposition, called it nothing more than a “tiara on top of the car park”.
Submission for the development close on July 18 with submissions to be made to <a target="_blank" href="https://www.mpv.vic.gov.au">Major Projects Victoria</a> 
</body></html>

Victorian government turns to private developers to fill Federation Square East “black hole”

<html><body>
The value of investment loans written in February surged to their highest level since the GFC, according to RateCity.com.au analysis of ABS housing finance data.
Investors borrowed $7.9 billion for property investment purchases in February 2013.
This is the highest value of investment loans written in one month since January 2008.
The previous highest value of investment loans written in one month was in June 2007, with over $9.1 billion, according to <a href="https://www.ratecity.com.au/" target="_blank">RateCity</a>.
According to RateCity spokesperson Michelle Hutchison, while the residential home loan market is a much bigger pool of money compared to investment loans – $13.9 billion compared to $7.9 billion – the growth rate in the former is a lot higher.
“In fact, the total value of investment loans grew three-times faster than residential loans (15.4% or $1.05 billion compared to 5.3% or $699 million),” she says.
Analysis of the RateCity.com.au database of home loan providers prepared for Property Observer shows that investors can source loans suitable for property investors starting from as low as 4.99%.
These are the cheapest advertised fixed and variable loans suitable for investment purposes currently on RateCity.com.au (May 3, 2013): 
RateCity’s top variable investment loans
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="143">
Company 
</td>
<td width="217">
Product 
</td>
<td width="151">
Rate
</td>
</tr>
<tr>
<td width="143">
loans.com.au
</td>
<td width="217">
Investment Blackboard Special (Purchase Only)
</td>
<td width="151">
4.99%
</td>
</tr>
<tr>
<td width="143">
State Custodians
</td>
<td width="217">
Investment Peak Performance Offset
</td>
<td width="151">
4.99%
</td>
</tr>
<tr>
<td width="143">
UBank
</td>
<td width="217">
Investment UHomeLoan (for refinancing)
</td>
<td width="151">
5.12%
</td>
</tr>
<tr>
<td width="143">
eMoney
</td>
<td width="217">
Investment Pro Pack 75
</td>
<td width="151">
5.20%
</td>
</tr>
<tr>
<td width="143">
iMortgage
</td>
<td width="217">
Investment Fusion ProPack Variable 75
</td>
<td width="151">
5.24%
</td>
</tr>
<tr>
<td width="143">
Pacific Mortgage Group
</td>
<td width="217">
Investment Variable
</td>
<td width="151">
5.27%
</td>
</tr>
<tr>
<td width="143">
Macquarie Bank
</td>
<td width="217">
Premium Investment Premium Variable 1000k+
</td>
<td width="151">
5.34%
</td>
</tr>
<tr>
<td width="143">
Rate Busters
</td>
<td width="217">
Investment Ultimate
</td>
<td width="151">
5.34%
</td>
</tr>
<tr>
<td width="143">
Newcastle Permanent
</td>
<td width="217">
Premium Plus Package Investment Premium Variable 250-499k
</td>
<td width="151">
5.37%
</td>
</tr>
<tr>
<td width="143">
HSBC
</td>
<td width="217">
Premier Investment Variable 1500k+
</td>
<td width="151">
5.40%
</td>
</tr>
</tbody></table>
RateCity’s top three-year fixed investment loans
<table border="0" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td width="143">
Company
</td>
<td width="217">
Product
</td>
<td width="151">
Rate
</td>
</tr>
<tr>
<td width="143">
ME Bank
</td>
<td width="217">
Investment SuperMember Fixed 3 years
</td>
<td width="151">
4.99%
</td>
</tr>
<tr>
<td width="143">
AMP Bank
</td>
<td width="217">
Affinity Package Investment Fixed 3 years 100k+
</td>
<td width="151">
5.04%
</td>
</tr>
<tr>
<td width="143">
A M O Group
</td>
<td width="217">
Investment Fixed 3 years
</td>
<td width="151">
5.09%
</td>
</tr>
<tr>
<td width="143">
iMortgage
</td>
<td width="217">
Investment Fusion Fixed 75 3 years
</td>
<td width="151">
5.09%
</td>
</tr>
<tr>
<td width="143">
ING DIRECT
</td>
<td width="217">
Investment Fixed 3 years
</td>
<td width="151">
5.09%
</td>
</tr>
<tr>
<td width="143">
CUA
</td>
<td width="217">
Investment Fixed 3 years
</td>
<td width="151">
5.10%
</td>
</tr>
<tr>
<td width="143">
RESI Mortgage Corp
</td>
<td width="217">
Investment FlexiFix Plus 75 3 years
</td>
<td width="151">
5.12%
</td>
</tr>
<tr>
<td width="143">
UBank
</td>
<td width="217">
Investment UHomeLoan Fixed (for refinancing) 3 years
</td>
<td width="151">
5.13%
</td>
</tr>
</tbody></table>
Source: RateCity.com.au, based on lowest advertised rates, available to the general public, conditions and fees apply.
</body></html>

Demand for investor loans rises to highest level since GFC: RateCity.com.au

<html><body>
The Gold Coast property market is expected to begin its recovery from  about 2015 in line with a seven year recovery cycle, according to Prodap Report author Bill Morris.
Morris expects a recovery in both house and unit prices as demand starts to exceed the supply of new housing stock and as significantly discounted liquidation unit stock is finally absorbed with the added boost of preparations for the 2018 Commonwealth Games boosting employment.
The lastest Prodap Report finds that the established housing market on the Gold Coast recovered strongly over the first three months of the year, but apartment prices continue to fall and are approaching their lowest average prices in a decade.
According to the report, the average Gold Coast house price rose from $515,941 to $554,263 (7.4%) in the March 2013 quarter, matching average prices in Brisbane ($550,000), despite a 27% drop in the volume of house sales. The average price was recorded from a sample of 589 sales.
The increase reversed a 4.5% fall over 2012 and an 8.4% fall over 2011 and 2012 combined.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/goldcoastmay3one.gif" title="Click to enlarge"><img src="/images/stories/2013/05/goldcoastmay3onethumb.gif"></a>
“This house price movement is significant because it is the first evidence of a new uplift since the GFC related crash in 2008,” says Morris.
Morris says there is a regular cycle in the Gold Coast housing market of seven years between upturns, and the last upturn occurred in 2006-07.
“The seven-year cycle is a structural market phenomenon which occurs in most unregulated property markets in Western countries, but at different times depending on local factors,” he says.
Morris also expects preparations ahead of hosting the Commonwealth Games in 2018 will “massively boost employment opportunities on the Gold Coast, creating upward pressures on rents and therefore residential values”.
“This combined with record low interest rates that are likely to reduce even further, creates a number of catalysts, to drive a lift in residential activity and prices,” he says.
In contrast the unit market fell by 3% in the March quarter, based on 895 settlements following falls of 11.3% of the past two years.
The average unit price of $419,724 is the lowest since June 2003.
Morris says this reflects significant discounting of liquidation stock, particularly in central Surfers Paradise high rise apartments.
“In other words, all the price growth which occurred between 2003 and 2007 has been nullified by the Global Financial Crisis,” says Morris.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/goldcoastmay3two.gif" title="Click to enlarge"><img src="/images/stories/2013/05/goldcoastmay3twothumb.gif"></a>
The rise in house prices is good news for the Gold Coast as a whole, where houses make up 60% of the local government area dwelling stock.
But in Surfers Paradise, apartments account for three quarters of all housing stock and the market has been in decline since about June 2008 coinciding with a big dip in sales volumes.
The most <a target="_blank" href="https://www.propertyobserver.com.au/developments/heavily-discounted-hilton-surfers-paradise-the-only-notable-gold-coast-high-rise-seller-in-november-quarter-midwood/2012121958540/Page-2">recent Midwood Report on the Queensland market</a> recorded only 19 high-rise apartment sales over the November quarter, a 70% plunge from sales figure a year ago with 705 high-rise apartments available for purchase on the Gold Coast, which at current sales rates would take close to a decade to clear.
“Oracle and Soul are only recently in receivership and the liquidators have yet to mount a solid marketing campaign and price list,” said Morris in the November quarter Midwood report.
"Apartments in Oracle, Soul and Hilton are being sold at 30% discounts," he said in an update to Property Observer.
Morris expects a price boom in the Gold Coast occurring in 2015 at the same time as sales of vacant land and house and land packages exceeding the release of new lots and house and land packages.
Prodap anticipates that in 2015/16, 3,000 residential lots and 1,500 townhouses and packaged housing will be released onto the market, more or less matched by demand.
Prodap anticipates townhouse and duplex sales exceeding supply of new stock over the course of 2013.
</body></html>

Gold Coast property recovery tipped from 2015 as house prices bounce back, but unit prices slip to lowest in a decade: Prodap Report

<html><body>
For once the HIA has not called for an interest rate cut in a press release, instead focusing on the more positive long-term trends in today's building approvals data.
Well it did at least in its first press release on today's data which had as it headline "Lift in Building Approvals Reflects Improved Sentiment".
A corrected press release issued a minute late took a decidely downbeat tone: "Sharp Decline in Building Approvals Underlines Delicate State Of Housing Industry," it read.
Perhaps readers can take their pick.
Both press releases began with the statement that approvals for houses and units <a href="https://www.propertyobserver.com.au/residential/dwelling-approvals-fall-55-in-march-led-by-nsw-and-victoria-abs/2013050260946?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">fell 5.5% over March</a>, below expectations of a small rise.
“This is the largest monthly decline in building approvals since July of last year and represents adisappointing reversal of the growth which occurred in February,” said HIA senior economist, Shane Garrett.
“The decline in approvals for units was particularly pronounced in March with a fall of 7.7% to ccurring. This is in comparison to the 4.1% decline in detached house approvals during March,” Garrett said.
But he said (in both press releases)  that when taking a "longer view" the picture is a "little more encouraging"
"Approvals in March were 3.9% higher than twelve months previously.
For the first quarter of 2013, total approvals rose by 8.8% compared with the same period in 2012,” noted Garrett.
“The sharp decline in approvals during March underlines the delicate state of Australia’s housing market. A tentative recovery does appear to be underway but it remains delicate,” said Garrett.
“Every positive indicator on housing seems to be quickly followed by negative data in relation to other aspects of the market.
"The government must bear this in mind when prescribing policy measures. The housing industry is in a sensitive state and the need for supportive action from government at this time is great.
"There remains huge scope for policy intervention, especially with regard to inefficient taxes on housing.
"We urge the government not to ignore these opportunities in the Budget tabled for later this month,” said Garrett. 
</body></html>

Longer term view on building approvals more encouraging: HIA

<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

<main data-perf-region="main">
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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News