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Mark Bouris’s Yellow Brick Road (YBR) franchise network grew its mortgage book by 21% to around $1.5 billion in the first three months of the year, its latest quarterly update reveals.
The growth in mortgage lending follows its new funding tie-up with Macquarie in November last year and just before it commenced its YBR branding blitz with Mark Bouris as the host of Channel 9’s Celebrity Apprentice.
Season three of Celebrity Apprentice, which kicked-off this week with a modest 866,000-viewer premier according to overnight OzTam metro figures, will feature a “YBR episode” based around a new product launch. (Channel Seven's much-mocked "Celebrity Splash" managed 1.3 million viewers with The Voice managing over two million.)
Last year, series two of Celebrity Apprentice premiered with 1.277 million viewers.
The Celebrity Apprentice series is also running alongside a “fully supported television advertising campaign”.
Channel 9’s Nine Ventures consumer investment group holds an 18% stake in Yellow Brick Road with Mark Bouris paying $2.65 million to sponsor reality television series on prime time television for three years with Bouris as host and contestants like <a href="/news">Roxy Jacenko</a> and the wannabe pop star Prinnie Stevens who was the first to be fired.
As for the product initiative, it could be a superannuation offering with YBR revealing plans for a “major product launch in the area of superannuation in late May 2013”.
Other products in the pipeline include a term deposit offering, a cash management account and credit card.
YBR attributed the growth in mortgage applications and settlements to its Empower Home Loan discount product offering.
The figures show the company now has 155 branches.
YBR reported a 32% in branch-generated receipts of $3.51 million for the quarter compared with $2.66 million in the previous corresponding period as a result of increased mortgage settlements and wealth revenue.
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lschlesinger-FZcF9M3vE6

Yellow Brick Road mortgage book hits $1.5 billion ahead of Celebrity Apprentice marketing blitz

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The housing market retraced some of the gains made in the first three months of the year with dwelling values falling 0.5% to a median of $485,000 over April, the latest RP Data Rismark index shows.
This follows a cumulative gain of 2.8% in property values over the March quarter.
For the three months to April, capital city house values are up 1.1% and 2.7% year-on-year with total gross returns on investment properties (capital growth and rental income) of 7.1%.
The most notable capital city decline was in Perth, where property values retreated 2.5% over April to a median of value of $499,000 with smaller declines recorded in Sydney (-0.4%, median of $565,000), Melbourne (-0.5%, $491,000) and Brisbane (-0.7%, $425,000).
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Outside of the mainland states, Hobart property values fell by 3.1% to a median of $311,500.
Adelaide was the best performing capital city property market over the month with values up 3.1% to a median of $375,000.
It also had the best performing market across houses and units over the month, with Adelaide house values up 3.1% over April to a median of $393,500.
Darwin remains the best performing capital city housing market over the past three months, with values up 5% to a median of $475,000.
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RP Data’s director of research, Tim Lawless, said the April results represented “more of a stumble along the path to recovery than a sign of a renewed trend in value falls”.
“When viewed in line with other metrics such as auction clearance rates, private treaty indicators and some improvement in housing finance demand, it is likely that the negative April result will be a blip along the path to recovery.
“We weren’t expecting that the high rate of growth evidenced over the first three months of the year would be sustained into April. A more measured pace of growth is a much more realistic outcome for the Australian housing market, especially considering that the first quarter is typically the strongest for value growth,” he said.
Rismark CEO Ben Skilbeck said the April  pullback was “seasonally typical of a market pause, meaning that if one were to take seasonal movements into consideration the market is not currently showing any downward trend”.
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Perth leads small 0.5% “stumble” in property values in April: RP Data

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The withdrawal of the $7,000 first-home owner grant (FHOG) in Victoria from July 1 could force first-home buyers in Ballarat and other regional towns to consider buying a new house on the outskirts to access greater government assistance.
But it is also likely to change the dynamics of the market, including a rush among some FHBS to finalise purchases before July 1 and then a drop off as others delay existing house purchases for up to a year to save deposit money to make up the shortfall, according to Trevor Booth, chairperson of the Real Estate Institute of Victoria’s (REIV) Ballarat Division.
Booth also expects investors may look to buy some of the established properties that vendors would have been targeting at first-home buyers, enticed also by Ballarat's low vacancy rate of under 1%.
Ballarat (postcode 3350) was the <a target="_blank" href="/news">seventh top location for Victorian FHBs</a> applying for the $7,000 FHOG with 298 applications received between July 2012 and March 2013.
More than half of these – 165 applications - were for existing home purchases with the rest for new homes.
The introduction of the  new $10,000 FHOG for new homes  from July 1 will come alongside the raising of stamp duty concession for FHBs from 30% to 40%.
As highlighted by the <a target="_blank" href="https://www.propertyobserver.com.au/trends/it-s-time-to-stop-tinkering-with-first-home-buyer-assistance-robert-larocca/2013042960826?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=first-homebuyers">REIV’s Robert Larocca on Property Observer earlier this week</a>, the removal of the $7,000 FHOG and the introduction of the higher stamp duty concession will mean that FHBs of more expensive existing properties will be less affected by the removal of the $7,000 grant than those buying cheaper homes.
A FHB of a $300,000 existing home from July 1 will lose out on almost $6,000 in government incentives while a FHB purchasing a $550,000 will lose just over $4,000.
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<a rel="shadowbox" href="/images/stories/2013/04/robertlaroccaapril29two.gif" title="Click to enlarge"><img src="/images/stories/2013/04/robertlaroccaapril29twothumb.gif"></a>
Source: SRO, REIV
This will particularly hurt FHBs in Ballarat where the median house price is $280,000, but will also impact on many FHBs in other key regional housing market like <a target="_blank" href="/news">Bendigo, where the median house price is $315,000</a>.
Currently, buying an existing or new home around the median price means benefits of around $10,100 ($7,000 FHOG plus the 30% stamp duty rebate).
“The changes to the grant will disadvantage FHBs wishing to purchase established home after July 1. It will discriminate against them,” says Booth.
“It may force FHBs to consider buying a new home to take advantage of fair bit of extra money which will increase demand for new housing and help the local construction sector, but it will put FHBs in the situation where they sacrifice the benefits of being close to amenities, to secure an extra $6,000.
Booth says the new housing suburbs are on the north and western outskirts of the city.
Booth says these new housing developments – being built by local companies – are around 10 kilometres from the Ballarat CBD.
With the traffic in Ballarat getting worse, first-home buyers who sacrifice convenience for government assistance, could end up paying more in petrol.
The uncertainty created by the changes to the grant and the lag time until they come into play comes at a time when, according to Booth, the Ballarat market is starting to show signs of improvement.
Booth says the worrying aspect of the grant changes are they impact they may have on the established home market.
Overall though, he says the Ballarat economy is “sound” with population growth of 2% to 2.5% per annum driven by strong IT, healthcare and university sectors.
Image courtesy of Travel Victoria.
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FHOG changes could force Ballarat FHBs into outer suburbs: Trevor Booth

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<img src="/images/stories/2013/03/macreemarch20one.gif" width="470" height="94" alt="macreemarch20one">
Among the projects Tim O'Connor has been involved in securing tenants are 1 Bligh Street in Sydney and formerly the world's tallest building, Tapei 101.
<img src="/images/stories/2013/04/timoconnor.png" width="200" height="200" alt="timoconnor" style="margin: 5px; float: left;">Agent: Tim O'Connor
Position: Head of office leasing, NSW
Company: Jones Lang LaSalle
Office location: Sydney
How long have you been in the industry? 
20 years – I first began working part-time in the industry in 1993 before my first full-time position in 1995.
What’s happening in the area you specialise in?
While we are seeing a steady improvement in sentiment on the back of local and global economic data, Sydney’s office market continues to operate at differing speeds.
On the one hand we are seeing an increase in current and future vacancy in premium grade buildings and a rise in the availability of sub-lease stock, particularly in the prime end of the market, and on the other we are seeing continued evidence of improving demand.
Describe the most interesting property you have leased:
Having had the opportunity to work in Asia for 10 years, I have been lucky enough to work on some great projects.
The sheer size and scale of projects such as Two IFC and International Commerce Centre in Hong Kong and Taipei 101 in Taiwan made them very interesting assignments to be involved in.
Leasing projects in Korea – and particularly China – were also fascinating, given the pace at which the market is maturing.
Since being back in Sydney, it has been fantastic to be involved in a unique building like 1 Bligh Street.
What are the ingredients to being successful in your job?
Listening to people is probably an underrated aspect, but you also have to know the questions to ask.
Each situation is different, and so it’s critical to listen and understand a particular organisations’ needs before you start to recommend strategies and solutions.
The final ingredient is knowing where to find information. Being part of a global organisation like Jones Lang LaSalle provides me with the opportunity to draw on a wealth of knowledge from colleagues locally, regionally and globally. Being able to harness this information provides us with the ability to support our clients in a unique way.
What aspects of your role do you enjoy the most?
I enjoy working as part of a team with a group of people who each bring something different to the table – whether it be where they are from, where they have worked or length of time in the industry.
On any given day I’ll both give advice and get advice and am reminded that even after many years in the industry, there is always something else to learn.
I also get the opportunity to work alongside some great clients and its very satisfying to work hard with them to develop a strategy and see it pay off.
Where would you invest a spare $750,000?
A share in a foal from Black Caviar.
Which football team do you support?
The Canberra Raiders, Norths Rugby and the Waratahs – has been a lean few years but expecting big things in 2013.
What’s your favourite app or techno gadget?
Split between my iPad and Mac Mini.
Follow Tim on <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/tim-o-connor/3/983/740" target="_blank">LinkedIn.</a>
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In profile: Jones Lang LaSalle's Sydney office leasing specialist Tim O'Connor

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Melbourne has the most affordable metropolitan office leasing market relative to the cost of leasing in the corresponding CBD market, according to Colliers International.
The metropolitan office market includes St Kilda Road, Southbank, the city fringe and inner east (places like Richmond), south east (Hawthorn and Dandenong) and outer east (Notting Hill), north and west (Essendon and Footscray).
The Colliers Metro/CBD Office Affordability Index compares the average A-Grade net effective rents of each city’s metropolitan office markets, to that of their CBD counterpart.
An index score of 1.00 represents parity (i.e. the rent in metro markets is the same as in the CBD) while a lower index scores means cheaper metro rents relative to their CBD, making them more attractive to cost conscious tenants.
As the chart shows Sydney (0.85), Melbourne (0.73) and Brisbane (0.85) metropolitan office markets, as a whole, remain below the 1.00 parity level.
<img src="/images/stories/2013/04/chartoftheweekmay1one.jpg" width="470" height="436" alt="chartoftheweekmay1one">
However, all three have seen their index number steadily increase over the past 12 months. This has been due to the combination of softening effective rents in each of those CBD markets, in contrast to low incentive levels and rental growth in each of the metro markets.
The Adelaide Fringe (0.94) index has been more expensive than its CBD as it consists of boutique office space, which has traditionally been more tightly held and until recently had little to no incentive level.
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Melbourne has most affordable metro office market: Chart of the week

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Big four bank ANZ is unlikely to cut mortgage rates outside of the RBA cycle, chief executive Mike Smith has hinted following the release of stronger than expected half-year results.
ANZ beat analysts’ expectation, posting a 10% rise in first-half cash profit to $3.2 billion for the six months to March 31.
Profits were boosted by the bank holding back some of the rate cuts announced by the RBA during the reporting period.
The bank passed on 40 basis points out of the 50 basis points cut from the cash rate by the RBA in October and December last year following its monthly independent interest rate reviews.
Apart from not passing on cash rate cuts in full, ANZ has twice lifted its mortgage rates out-of-cycle with the RBA since going it alone on rate decisions.
ANZ increased variable rates by 6 basis points in February last year and by 6 basis points in April.
It has yet to cut the cash rate out of cycle.
Smith said where the bank was placed in terms of its interest rate setting was “appropriate” in a media briefing following the release of the interim results.
The half-year results reveal the bank grew its loan book by $5.8 billion (2%) from $182 billion in mortgage funds under management to $188 billion, comprising 860,000 mortgage accounts with owner-occupiers making up 62% of its mortgage portfolio.
The growth in mortgage lending was driven by a $3.3 billion increase in variable rate residential lending and a $2.4 billion increase in commercial lending, driven bygrowth in fixed loans and tailored commercial facilities.
It share of the mortgage market increased from 14.5% in February 2012 to 14.7% in February 2013, with the bank reporting above system mortgage growth for 13 consecutive quarters.
Just 6% of its new lending has been to first-home owners while nearly a third of its borrowers have interest-only loans.
The bank’s mortgage book is in a healthy overall state with 59% of its borrowers more than a month ahead on mortgage repayments.
Borrowers have built up an average equity position of 48%, meaning on average, they own nearly half of their homes outright.
This compares to an average equity position of 35% at the time they originate their home loan.
The proportion of borrowers more than ninety days behind on their mortgage payments comprise just 0.41% of its total mortgage portfolio.
The results reveal the mortgage brokers are more popular than the bank’s own branches (46% versus 41%) for originating home loans with brokers also securing a bigger average loan size of $308,000 compared with $251,000 through branches, mobile lenders and online sales.
ANZ  will pay an interim dividend of 73 cents.
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No out of cycle rate cuts likely from ANZ as profits surge amid very healthy mortgage book

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Mortgage lending growth remained at record low levels in March, according to RBA figures.
Housing credit increased by 0.4% over March following an increase of 0.4% over February.
Over the year to March, housing credit rose by 4.4% - the slowest annual pace of mortgage lending growth for RBA data going back to 1976.
Total credit provided to the private sector by financial intermediaries rose by 0.2% over March after increasing by 0.2% over February.
Over the year to March, total credit rose by 3.2%.
Other personal credit (personal loans, credit cards) rose by 0.1% over March after increasing by 0.1% over February. Over the year to March, other personal credit decreased by 0.1%.
Business credit was unchanged over March after decreasing by 0.2% over February. Over the year to March, business credit increased by 1.6%.
 
 
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Mortgage lending growth remains subdued in March: RBA

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Expect a stampede of property investors storming the Treasury building in Canberra if the government ever ends negative gearing tax allowances as some in the industry have proposed.
The latest ATO figures for the 2010-11 tax year show just how reliant property investors are on being able to offset rental losses against their taxable income and reduce their tax bills.
Around two-thirds of 1,811,174 property investors - 1,213,597 taxpayers – claimed losses on their investment properties for the 2010-11 tax year up from 1,110,290 who claimed losses in the 2009-10 tax year.
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Dividing the total rental income loss claimed by taxpayers by the number of taxpayers, reveals that the average loss recorded for negatively-geared property investors was $10,947 in 2010-11, up from $9,132 in 2009-10.
The figures show there was a small rise in gross rental income from $28 billion to $30.7 billion but a rise in tax deductible rental interest payments (up from $18.4 billion to $22.7 billion), capital works deductions and other allowable rental deductions.
The highest proportion of tax payers claiming rental deductions are those earning between $37,000 and $80,000 per year, making up more than a third of all negatively-geared property investors.
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Two-thirds of property investments negatively geared: ATO figures

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Self-managed super funds (SMSFs) experienced the largest growth in the number of tax returns lodged over 2010-11 by entity type rising to 391,163, according to the latest release of ATO figures.

This was an increase of 4.8% from 373,195 SMSF tax returns lodged 2009-10.
The figures show that the highest allocation remains to shares (32%) and cash and term deposits (28.7%) with 3.5% invested in residential property, 11.4% in non-residential property, 4.2% invested in listed property trusts and 8.8% invested in unlisted property trusts.
In total 14.9 million tax returns were lodged, an increase of 2.1% from 2009-10.
Individual returns represented 84.7% of all tax returns lodged.
 
Self–managed super funds, 2010–11 and 2011–12 financial years
 
<table width="349" cellpadding="7" cellspacing="0" border="1" dir="ltr"><tbody>
<tr>
<td width="33%" valign="top" height="7">
Self–managed super funds
</td>
<td width="33%" valign="top" height="7">
2010–111
</td>
<td width="33%" valign="top" height="7">
2011–12
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Funds (no.)
</td>
<td width="33%" valign="top" height="7">
442,987
</td>
<td width="33%" valign="top" height="7">
478,263
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Members2 (no.)
</td>
<td width="33%" valign="top" height="7">
846,227
</td>
<td width="33%" valign="top" height="7">
913,550
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Assets2 ($m)
</td>
<td width="33%" valign="top" height="7">
423,232
</td>
<td width="33%" valign="top" height="7">
438,995
</td>
</tr>
</tbody></table>
 

Asset allocation across self–managed super funds, 2009–10 and 2010–11 income years
 
<table width="349" cellpadding="7" cellspacing="0" border="1" dir="ltr"><tbody>
<tr>
<td width="33%" rowspan="2" valign="top" height="17">
Asset type
</td>
<td colspan="2" width="33%" valign="top" height="17">
2009–102
</td>
<td width="33%" valign="top" height="17">
2010–11
</td>
</tr>
<tr>
<td width="17%" valign="top" height="7">
%
</td>
<td colspan="2" width="50%" valign="top" height="7">
%
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Listed Shares
</td>
<td colspan="2" width="33%" valign="top" height="7">
31.4
</td>
<td width="33%" valign="top" height="7">
32.0
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Cash and term deposits
</td>
<td colspan="2" width="33%" valign="top" height="7">
27.1
</td>
<td width="33%" valign="top" height="7">
28.7
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Non-residential real property
</td>
<td colspan="2" width="33%" valign="top" height="7">
11.5
</td>
<td width="33%" valign="top" height="7">
11.4
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Unlisted trusts
</td>
<td colspan="2" width="33%" valign="top" height="7">
9.6
</td>
<td width="33%" valign="top" height="7">
8.8
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Other Managed Investments
</td>
<td colspan="2" width="33%" valign="top" height="7">
5.0
</td>
<td width="33%" valign="top" height="7">
4.7
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Listed trusts
</td>
<td colspan="2" width="33%" valign="top" height="7">
4.9
</td>
<td width="33%" valign="top" height="7">
4.2
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Residential real property
</td>
<td colspan="2" width="33%" valign="top" height="7">
3.7
</td>
<td width="33%" valign="top" height="7">
3.5
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Unlisted Shares
</td>
<td colspan="2" width="33%" valign="top" height="7">
1.2
</td>
<td width="33%" valign="top" height="7">
1.1
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Overseas assets3
</td>
<td colspan="2" width="33%" valign="top" height="7">
0.9
</td>
<td width="33%" valign="top" height="7">
0.9
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Other assets4
</td>
<td colspan="2" width="33%" valign="top" height="7">
4.8
</td>
<td width="33%" valign="top" height="7">
4.8
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Total5
</td>
<td colspan="2" width="33%" valign="top" height="7">
100.0
</td>
<td width="33%" valign="top" height="7">
100.0
</td>
</tr>
</tbody></table>
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SMSF tax return numbers rise 4.8% in 2010-11 to 391,000: ATO figures

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GPT’s Highpoint Shopping Centre in Melbourne West is fully leased following its $300 million redevelopment into the third largest shopping centre in Australia, the listed property developer has reported in its March quarter market update.
The redevelopment included the addition of a new fashion precinct and the opening of Top Shop and Zara stores alongside a new David Jones department store in mid-March, adding 30,000 square metres of space and ranking it third behind Chadstone Shopping Centre in Malvern East and Westfield Fountain Gate in Narre Warren.
However, GPT reported weaker conditions in the retail market and modest growth in retail sales with specialty sales growth of just 1.3% over the quarter.
Positive leasing outcomes increased retail occupancy to 99.7%.
Retail property ($4.87 billion) comprises more than half of GPT’s property portfolio worth $8.64 billion.
Across its office portfolio, nearly 23,000 square metres of space was leased during the quarter and occupancy remained steady.
GPT’s other major project is its 161 Castlereagh Street office tower in Sydney, which reached practical completion in March with the surrounding plaza and retail precinct on track for completion in mid-2013.
The tower to be known as ANZ Bank Centre will have 55,000 square metres of office space across 43 levels as well as 3,200 square metres of ground floor retail space.
It is the sixth tallest building in Sydney, designed by Francis-Jones Morehen Thorp (FJMT), a Sydney based architectural firm and constructed by Grocon.
Head of investment management, Carmel Hourigan said the performance across the asset portfolios had been solid for the quarter.
“Occupancy remains high at 98.3% and we have a long weighted average lease expiry at 4.9 years,” Hourigan said.
GPT declared a distribution of 5.1 cents for the March quarter, up 10.9% on the equivalent period in 2012.
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Highpoint Shopping Centre fully-leased but retail sales growth “modest”: GPT

<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.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Larry Schlesinger

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