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HSBC Australia chief economist Paul Bloxham says there is “some room for [house] prices to increase” in his latest note on the performance of the Australian economy.
“After a period of falling housing prices in the 18 months to May 2012, there is also some room for prices to increase, although excessive price growth would be a worry, given housing prices are already quite high,” writes Bloxham in his latest Downunder Digest.
The digest notes the pick-up in retail sales in January and February and that consumer sentiment is around two-year highs.
Bloxham expects that “below neutral monetary policy should support a consumer revival” freeing up cash for the majority of borrowers who have variable rate mortgages.
“Low rates have boosted consumer cash flows, as around 90% of mortgages are on floating rates and RBA cuts have largely flowed through to effective rates.
“Low rates are also encouraging portfolio shifts from deposits to equities and housing, which is also boosting household wealth. Rising household wealth encourages consumption and less saving,” Bloxham says.
Bloxham expects a recovery in retail sales to be supported by an upturn in housing construction, “which already appears to be underway”.
“As more houses are built, we expect demand for consumer durables to rise to fill these houses.
“While on-line sales have been a key source of competition for domestic retailers in recent years, durable goods are still largely purchased through traditional shop front retailers. We expect an upturn in sales of durable goods to support the local retail sector.
"Hence, our view remains that ‘Australian retailers are to see a better 2013’," Bloxham says.
The rosier outlook for retailers is driven by low rates and less impact from the Australian dollar.
“In addition to the effect of low rates, we also expect that the Australian dollar is no longer putting as much downward pressure on local retail sales as it had been in 2010 and 2011,” says Bloxham.
“Back then, the strong Australian dollar appreciation had encouraged very strong growth in overseas departures of Australian residents, as more people chose to go on international holidays.
"This meant more dollars leaking offshore, as there was less domestic travel and more spending abroad.
“But growth in overseas departures has slowed. While it is still a drag on local spending, the drag is easing. In this way, the Australian dollar effect on growth is starting to wear off.”
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lschlesinger-FZcF9M3vE6

“Some room” for house prices to increase as low interest rates support “consumer revival”: HSBC’s Paul Bloxham

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Four Melbourne businesses running seminars on investing in real estate through self-managed super funds are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
The four businesses operating in the 'sand belt' region of the city - a law firm, a mortgage broker, a real estate agency and a firm of chartered accountants – are named in a leaked letter sent by ASIC commissioner Peter Kell to Liberal MP Peter Fletcher.
The letter was obtained by the Australian Financial Review.
Their last known seminar was held in late 2011.
It follows a review of property sales by the special SMSF taskforce established last year by ASIC chairman Greg Tanzer to examine “high-risk SMSF issues” with its first major project, being “looking at the quality of advice provided to investors”.
ASIC has yet to form an opinion as to whether the material being promoted by these four companies was unlawful.
It comes as part of an ASIC drive to improve the quality of advice provided to SMSF trustees as the sector continues to expand as does the appeal of property as an income-generating asset to hold in these funds.
A spokesperson for ASIC would not comment on the companies named in the letter, but told Property Observer it was “cracking down on the sector, including advertising”. He said ASIC had released guidance for how investing in property through SMSFs should be advertised and expected promoters to adhere to these guidelines.
“We don’t want SMSF investors to become the targets of unscrupulous spruikers," he said.
The guidance on advertising is contained in <a href="https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg234-published-15-November-2012.pdf/%24file/rg234-published-15-November-2012.pdf" target="_blank">Regulatory Guide 234</a> - Advertising financial products and services (including credit): Good practice guidance.
“Advertisements for financial products and credit products should give a balanced message about the returns, features, benefits and risks associated with the product. Benefits should not be given undue prominence compared with risks,” reads the guide.
ASIC established its special SMSF taskforce in September last year.
In a speech made earlier this month ASIC commissioner Peter Kell said it had been established due to several concerning developments including “an increase in geared investment strategies and increasingly aggressive advertising for SMSFs”.
ASIC does not regulate direct property investment, except where the investment is made through an SMSF.
“In the last year we have seen a rise in SMSF advertising. Unfortunately, we’ve seen more blatant examples of misleading or deceptive advertisements. Particular problem areas we have seen include misleading or deceptive statements about SMSF fees, returns and risks,” said Kell in his speech.
Following this speech, Kell later warned that ASIC “did not want to see SMSFs become the vehicle of choice for property spruikers.
“Where we see examples of unlicensed SMSF advice, or misleading marketing, we will be taking regulatory action," he said.
In its report on the sector released earlier this month, ASIC said it had seen “blatant examples of misleading or deceptive advertising and have taken regulatory action to stop these advertisements”.
“Particular problem areas we have seen include misleading or deceptive statements about SMSF fees; SMSF returns; and SMSF risks.
Misleading advertising of property investment through self-managed super funds can result in ASIC seeking civil penalties of up to $340,000 for an individual or $1.7 million for a body corporate, investors being compensated and orders seeking correct disclosure.
ASIC’s particular areas of focus over the next 12 months are:
<ul>
<li>enforcement—looking at unlicensed financial advice, misleading or deceptive advertising in relation to SMSFs, and continuing to actively pursue enforcement matters in the SMSF sector; </li>
<li>policy implementation—working with accountants following the Government’s announcement to remove the accountants’ exemption, consulting on SMSF issues (e.g. SMSF disclosure requirements and the costs of establishing an SMSF) and registering SMSF auditors; and </li>
<li>education and disclosure—continuing our financial literacy work, updating our MoneySmart website to provide Australian consumers with useful and reliable information about all types of superannuation, including SMSFs, and examining investor attitudes to SMSFs. </li>
</ul>
In March, the Australian Taxation Office revealed it expects more than 1,000 applications a week to be lodged for SMSFs in May and June this year.
<ul></ul>
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Melbourne sandbelt SMSF property spruikers face ASIC probe over seminar advertising

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Australand’s residential division had an “encouraging” start to 2013 with “solid sales activity” recorded over the first three months of the year, managing director Bob Johnston told shareholders at yesterday’s annual general meeting.
Johnston said Australand has built on its “strong contracts on hand position at the start of the year” to average around 190 sales per month for the January quarter.
“This is an encouraging start to the year and puts us in a good position to achieve our full year targets,” he said.
Australand has one of the biggest residential lot portfolios in the country with 20,400 lots under management with an estimated end value of $8 billion.
Johnston highlighted that “importantly” most of its residential projects (master planned communities and inner city apartment developments) are zoned and weighted to the biggest housing markets of Sydney and Melbourne.
“We see our ability to create and deliver new product at our below the median price in each of our markets as a key competitive advantage.
“This is particularly important as homebuyers are confronted with a lack of new, affordable housing options,” he said.
Johnston added that the residential sector continued to be a “deep and undersupplied market” noting that affordability had improved “significantly” with the fall in mortgage rates.
Projects selling well in 2013, Johnston said, were its medium density “Local” project in Carlton, in inner Melbourne which will deliver 675 apartments when completed and its <a href="https://residential.australand.com.au/land/nsw/sutherland-shire/greenhills-beach#forsale" target="_blank">Greenhills Beach master planned development</a> (pictured below) in Cronulla, in Sutherland Shire, Sydney.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/greenhillsapril23one.jpg" alt="greenhillsapril23one" width="470" height="279">
Local delivered 97 sales over 2012 at an average price point of $500,000 with a further 89 sales recorded at year end.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/greenhillsapril23two.jpg" alt="greenhillsapril23two" width="470" height="301">
Greenhills Beach managed 136 lots sales in 2012 at an average price of $830,000 and “has continued to deliver solid sales in the first quarter of 2013”.
Other projects continuing to sell well include Hamilton Reach on the Brisbane River and Cockburn Central, 20 kilometres south of the Perth CBD.
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Greenhills Beach helps Australand report “solid” residential sales activity in 2013 first quarter

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Investors who purchased a house in the east Melbourne suburb of Box Hill based on its inclusion in last year’s Hot 100 list published by Australian Property Investor (API) magazine are unlikely to be a happy bunch.
As API published its flagship 2013 Hot 100 list this month, Property Observer analysed the performance of all 100 suburbs that made it on to last year’s list.
We found that Box Hill was the poorest performing detached housing market on last year’s list, which included suburbs that were expected to show growth over the following 12 months and beyond.
But rather than rise as expected, Box Hill's median house price has fallen 19% between publication of the 2012 and 2013 Hot 100 reports. And it fails to make a re-appearance on the latest list of hotspots.
Of the 90 hot spot suburbs from 2012 where comparison were possible, 25 locations recorded declined of 1% or more over the year, 19 locations treaded water, 34 recorded gains of between 1% and 10% in their median house prices and 12 managed gains of more than 10%. 
According to Australian Property Monitors (APM) data published by API Magazine, Box Hill recorded a median house price of $545,000 based on sales of 111 houses over the 12 months to January 2013.
This compares with a median price of $748,000 recorded from 101 sales for the 12 months to December 2011.
Box Hill was picked last year because of its good local council,  good location – just 13 kilometres east of the Melbourne CBD – and because of its status as one of Melbourne’s biggest transport interchanges “expected to accommodate a significant increase in housing around the core retail district”.
The suburb is the site of the $447 million Box Hill hospital redevelopment while the Cromwell Property Group recently raised $66 million from investors for a new 20-storey ATO building.
While investing in property is clearly a long-term play – a point highlighted by API Magazine - and Box Hill prices may yet rise as these major projects are completed, investors who bought in the suburb will be dismayed to learn that Box Hill is not among the 29 suburbs that have scored consecutive mentions in both 2012 and 2013 Hot 100 lists prepared by API Magazine.
Three other Melbourne suburbs, picked as hotspots last year by API, recorded near 10% annual declines in median values, with Broadmeadows house prices falling 10%, Sunshine prices down 9.4% and Northcote prices down 8.1%.
At the other end of the spectrum, the inner Perth suburb of Highgate, just 1.7 kilometres from the CBD, has been a hotspot standout, with house median prices up 43% over the same period.
For the 12 months to January 31 2013, APM records a Highgate median house price of $609,000 from 40 sales compared with a median house price of $497,000 for the 12 months to December 2011.
Highgate was included on the Hot 100 list based on good local council involvement in creating “mixed-use hubs” in surrounding areas, great accessibility to the city centre via road and train and good amenities and services in neighbouring suburbs like Mount Lawley and East Perth.
In addition, and as indicated by the small number of sales recorded, Highgate is a tightly-held suburb with “aesthetic appeal”
Surprisingly and despite the strong showing, Highgate is not listed as a hot spot in this year’s list, though a number of other eastern Perth suburbs are, including Dianella (6 kilometres north east of Perth), Carlisle ( 6 kilometres south east of Perth), Bayswater (6.6 kilometres north east of Perth) and Belmont (6.5 kilometres east of Perth.)
WA locations dominated the best performing locations from the 2012 list with Highgate followed by the Pilbara mining hotspots of Karratha (up 36.4%), Newman (up 25.5%) and Onslow (22.6%).
Just 29 suburbs have made it onto the hotlist for the second year in a row demonstrating the fleeting nature of so-called “hotspots”
The report highlights the challenges in picking property investment hotspots and the importance of doing your own research.
Indeed, API Magazine, in its guide to this year’s list says readers should not buy a property in a location “just because it’s in the Hot 100”.
However, it does say that suburbs have been picked for their “growth prospects over the next 12 months as well as the longer term”.
“This list isn’t your due diligence. You must do your own detailed homework into any area you’re going to invest in, as well as the property type,” says API.
<table style="width: 309px;" frame="box" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="141">
<col width="168">
</colgroup>
<tbody>
<tr height="21">
<td height="21" width="141">Suburb</td>
<td width="168">Houses (12 month change)</td>
</tr>
<tr height="21">
<td height="21" width="141">Box Hill, VIC</td>
<td width="168">-19%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Adelaide, SA</td>
<td width="168">-14.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Broadmeadows, VIC</td>
<td width="168">-10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Sunshine, VIC</td>
<td width="168">-9.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Townsville, QLD</td>
<td width="168">-8.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Northcote, VIC</td>
<td width="168">-8.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">South Brisbane, QLD</td>
<td width="168">-8.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ascot Vale, VIC</td>
<td width="168">-7.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mandurah, WA</td>
<td width="168">-6.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Oakey, QLD</td>
<td width="168">-6.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Carindale, QLD</td>
<td width="168">-6.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Frankston, VIC</td>
<td width="168">-5.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Smithton, TAS</td>
<td width="168">-5.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dickson, ACT</td>
<td width="168">-4.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Keperra, QLD</td>
<td width="168">-4.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Magill, SA</td>
<td width="168">-3.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Warrane, TAS</td>
<td width="168">-3.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Eden Hill, WA</td>
<td width="168">-3.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Werribee, VIC</td>
<td width="168">-3.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Stafford, QLD</td>
<td width="168">-2.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dandenong, VIC</td>
<td width="168">-2.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Warrnambool, VIC</td>
<td width="168">-1.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Coorparoo, QLD</td>
<td width="168">-1.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ningi, QLD</td>
<td width="168">-1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Woodville West, SA</td>
<td width="168">-1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Maitland, NSW</td>
<td width="168">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Southport, QLD</td>
<td width="168">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ceduna, SA</td>
<td width="168">-0.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Indooroopilly, QLD</td>
<td width="168">-0.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Camperdown, NSW</td>
<td width="168">-0.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Sherwood, QLD</td>
<td width="168">-0.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Armadale, WA</td>
<td width="168">-0.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Coburg, VIC</td>
<td width="168">-0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Moorooka, QLD</td>
<td width="168">0%</td>
</tr>
<tr height="21">
<td height="21" width="141">Parap, NT</td>
<td width="168">0%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Lincoln, SA</td>
<td width="168">0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Turner, ACT</td>
<td width="168">0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ballarat, VIC</td>
<td width="168">0.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mentone, VIC</td>
<td width="168">0.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Bunbury, WA</td>
<td width="168">0.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">West Footscray, VIC</td>
<td width="168">0.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Fremantle, WA</td>
<td width="168">0.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Granville, NSW</td>
<td width="168">0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ringwood, VIC</td>
<td width="168">0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Footscray, VIC</td>
<td width="168">1.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Chermside, QLD</td>
<td width="168">1.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Como, WA</td>
<td width="168">1.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Marrickville, NSW</td>
<td width="168">1.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Westminster, WA</td>
<td width="168">1.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Yeerongpilly, QLD</td>
<td width="168">1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Toowoomba, QLD</td>
<td width="168">2.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Edgewater, WA</td>
<td width="168">2.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Thornbury, VIC</td>
<td width="168">2.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Enmore, NSW</td>
<td width="168">2.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Erskineville, NSW</td>
<td width="168">2.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Blacktown, NSW</td>
<td width="168">2.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Perth CBD, WA</td>
<td width="168">3.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Orange, NSW</td>
<td width="168">3.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Heathridge, WA</td>
<td width="168">3.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Maroubra, NSW</td>
<td width="168">3.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Murarrie, QLD</td>
<td width="168">3.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Kellyville, NSW</td>
<td width="168">4.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Underwood, QLD</td>
<td width="168">4.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Hackham, SA</td>
<td width="168">4.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Joondalup, WA</td>
<td width="168">4.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Willetton, WA</td>
<td width="168">5.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Osbourne Park, WA</td>
<td width="168">5.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dunsborough,WA</td>
<td width="168">5.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Hamilton Hill, WA</td>
<td width="168">5.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Yangebup, WA</td>
<td width="168">5.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Cloverdale, WA</td>
<td width="168">6.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Belmont, WA</td>
<td width="168">7.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Midland, WA</td>
<td width="168">7.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Roxby Downs, SA</td>
<td width="168">8.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Bendigo, VIC</td>
<td width="168">8.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Whyalla, SA</td>
<td width="168">8.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mackay, QLD</td>
<td width="168">9.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Carlton North, VIC</td>
<td width="168">9.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Summer Hill, NSW</td>
<td width="168">10.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Neutral Bay, NSW</td>
<td width="168">12.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Hedland, WA</td>
<td width="168">13.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Roma, QLD</td>
<td width="168">14.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Moranbah, QLD</td>
<td width="168">14.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Norwood, SA</td>
<td width="168">14.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Nundah, QLD</td>
<td width="168">16.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Broome, WA</td>
<td width="168">16.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Onslow, WA</td>
<td width="168">22.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Newman, WA</td>
<td width="168">25.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Karratha, WA</td>
<td width="168">36.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Highgate, WA</td>
<td width="168">43.00%</td>
</tr>
<tr height="20">
<td height="20" width="141">Source: API Magazine</td>
<td></td>
</tr>
</tbody>
</table>
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Hit and miss hotspots: Box Hill flames out while Highgate, Karratha, Newman and other WA mining locations are on fire

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The Redcape Property Fund has appointed John Russell, the former chief financial officer of Australian Leisure &amp; Hospitality Group, as its new chief executive.
The announcement was made by Redcape chairman Trevor O'Hoy.
O’Hoy, the former boss of Fosters, said the appointment of Russell completed the formation of the executive leadership team and would help Redcape "achieve the board's strategic objectives for its portfolio of outstanding freehold and leasehold pub assets".
The formerly ASX-listed group has been under the stewardship of O’Hoy while an international search has been underway for a chief executive.
In his most recent executive role, Russell led Customers Limited, Australia's largest owner and operator of ATMs.
<a target="_blank" href="/news">O'Hoy</a> was appointed chairman of the privatised pub landlord group in May last year.
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Redcape completes executive team with John Russell appointed chief executive

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Gold Coast real estate company Total Project Marketing Pty Ltd is being prosecuted by the Fair Work Ombudsman for allegedly underpaying three salespeople a total of more than $53,000.
The majority of the alleged underpayments relate to sales commissions earned by the three salespeople.
Total Project Marketing is based at Ashmore and bill itself as a "specialist project marketing agency that manages the marketing of residential projects in northern New South Wales, Gold Coast, Brisbane, Sunshine Coast and Northern Queensland".
<div align="justify" style="color: #505050; font-family: verdana, 'bitstream vera sans', arial, helvetica, sans-serif; font-size: 11px;"></div>
Also facing court will be company owner-manager Adrian Keith Parsons, and his wife Karen Nicole Parsons, the company’s office manager, said the Fair Work Ombudsman.
A directions hearing is listed in the Federal Circuit Court in Brisbane on May 6.
The Fair Work Ombudsman alleges the company underpaid three real estate salespeople a total of $53,222 between October, 2009 and February, 2011.
It is alleged the majority of the underpayments are the result of the employees being significantly underpaid the sales commissions they were entitled to.
The employees were allegedly also underpaid their minimum weekly wages and annual leave entitlements.
The Fair Work Ombudsman alleges the employees were underpaid individual amounts of $32,951, $16,551 and $3,720.
Fair Work inspectors discovered the alleged breaches when they investigated complaints lodged by the employees.
The Parsons faces penalties of up to $6,600 per breach and the company faces penalties of up to $33,000 per breach.
The Fair Work Ombudsman is also seeking a Court Order for back-payment of the employees. 
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Gold Coast agency allegedly underpaid three staff $53,000: Fair Work Ombudsman

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The lowest advertised mortgage offering -fixed or variable - is a one-year fixed rate package home loan of 4.79% offered by non-bank lender Quick Direct, according to mortgage comparison websites.
The rate is 30 basis points below the lowest big four one-year fixed rate offering – NAB one-year fixed rate of 5.09% available under its package home loan offerings.
All Quick Direct package home loans require a 10% deposit.
Borrowers looking to refinance with a major bank brand can secure a one-year fixed rate home loan with UBank – NAB’s online brand – of 4.83%.
Quick Direct is a subsidiary of Sydney-based BMC Mortgage Corporation.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of April 22:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="124">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="116">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Blackboard Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.01%
</td>
</tr>
<tr>
<td valign="top" width="134">
State Custodians
</td>
<td valign="top" width="124">
State Custodians Peak Performance Offset (Refinance Only)
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.38%
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Dream Loan Express Variable
</td>
<td valign="top" width="97">
5.09%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
</tbody></table>
 Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
Quick Direct
</td>
<td valign="top" width="123">
One year fixed
</td>
<td valign="top" width="95">
4.79%
</td>
<td valign="top" width="114">
5.46%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank
</td>
<td valign="top" width="123">
UHomeLoan for refinance fixed rate
</td>
<td valign="top" width="95">
4.83%
</td>
<td valign="top" width="114">
5.34%
</td>
</tr>
<tr>
<td valign="top" width="137">
Loans.com.au
</td>
<td valign="top" width="123">
Dream loan express fixed
</td>
<td valign="top" width="95">
4.89%
</td>
<td valign="top" width="114">
5.28%
</td>
</tr>
</tbody></table>
 
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="131">
Provider
</td>
<td valign="top" width="131">
Loan name
</td>
<td valign="top" width="96">
Rate
</td>
<td valign="top" width="111">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="131">
ME Bank
</td>
<td valign="top" width="131">
Member Package SMHL Standard Home Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.49%
</td>
</tr>
<tr>
<td valign="top" width="131">
Teachers Mutual Bank
</td>
<td valign="top" width="131">
Teachers Fixed Option Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="131">
ING Direct
</td>
<td valign="top" width="131">
Residential Fixed
</td>
<td valign="top" width="96">
5.09%
</td>
<td valign="top" width="111">
5.60%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
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From Quick Direct’s 4.79%: the lowest fixed and variable home loan offerings

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The large variance between economists' forecasts for the cash rate between now and the end of 2014 may create a conundrum for borrowers trying to decide between fixing their home loan or going with a variable rate product, given the current cheap fixed-rate offerings in the market place.
Over the remainder of 2013, the median forecast is for the cash rate to fall to 2.75%, according to the latest Bloomberg survey of bank and financial institution economists.
However, forecasts vary from HSBC’s Paul Bloxham’s expectation that the cash rate could rise by 25 basis points to 3.25% to Macquarie’s Richard Gibbs, who expects the cash rate could fall 100 basis points to 2% over the course of the year.
Just nine economists expect a cash rate at the median of 2.75%, including Westpac’s Bill Evans and economists from JP Morgan and Citi.
A greater number, 10 economists, expect no change over 2013 and the cash rate remaining at 3%, including the Commonwealth Bank’s Michael Blythe and AMP Capital’s Shane Oliver.
Seven economists foresee two more rate cuts this year (2.5%), including ANZ’s Warren Hogan.
Looking beyond 2013, and the lack of consensus is even greater with forecasts varying from a cash rate of 2.5% (ANZ Bank and FIIG Securities) to as high as 4.25% (Laminar Capital) by the end of 2014.
The median forecast is for a cash rate of 3.25% by the end of 2014, but with only three replies at the median.
The major banks have different expectations for the cash rate by the end of 2014, though tellingly none of them expect a cash rate higher than 3%.
The Commonwealth Bank currently expects no change in the cash rate between now and the end of 2014.
NAB also has a cash rate setting of 3% by the end of 2014.
Westpac expects a cash rate of 2.75% by the end of 2014.
ANZ expects a cash rate of 2.5% by the end of 2014.
March quarter inflation data out on Wednesday (April 24) is expected to be well within the RBA’s target band of between 2% and 3%, allowing scope for further rate cuts if needed.
According to same Bloomberg survey, the median forecast is for an inflation reading of 2.4% on both trimmed mean and weighted mean measures.
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Possibly one more rate cut in 2013 but lack of consensus the overriding theme: Bloomberg survey

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NAB has from today cut its five-year fixed-rate home loan by 29 basis points to 5.55% under its package home loan offering.
This is its lowest the bank’s five-year fixed-rate home loan has been in 20 years.
NAB offers package home loan borrowers a discounted variable rate of 5.53% if they borrow $500,000 or more.
Borrowers who take out a five-year fixed-rate will be punting on interest rates rising over the next five years.
NAB chief economist Alan Oster expects to further rate cuts this year, taking the cash rate to 2.5%.
Were the bank to pass on around 40 out of these expected 50 basis points, variable rate borrowers could see their interest rate fall to as low as 5.1%.
However, over 2014, NAB expects the cash rate to rise back to 3%, though some lenders expect it could rise as high as 4%.
<ul>
<li>The Commonwealth Bank offers a five-year fixed rate home loan at 5.69% under its package offering</li>
<li>Westpac is at 5.79% under its package home loan offering</li>
<li>ANZ is at 5.84% under its package home loan offering</li>
</ul>
Three-year fixed-rate home loans remain by far the most popular fixed-rate product among borrowers, with five-year fixed-rate home loans a marginal product.
According to mortgage comparison website homeloanfinder.com.au, three-year fixed-rate home loans currently account for two-thirds of all fixed-rate product choices with five-year fixed-rate home loans second most popular, <a href="https://www.propertyobserver.com.au/news/monday-feb-25-feature-the-fix-is-on-for-bank-mortgage-rates-should-you-take-the-deal/2013022159504" target="_blank">accounting for a fifth of fixed-rate products selected currently</a>.
Adrian Barclay, personal finance expert from HomeLoanFinder.com.au, wrote recently on Property Observer, that choosing between a three-year and five-year fixed rate home loan was an “important decision” especially considering that an average home changes hands every seven years.
“So, if you lock in a five-year fixed home loan three years into your home ownership, on average, you may sell it before. This can be an extremely costly way to handle home ownership,” Barclay says.
Costs can rise to thousands of dollars if you sell your house within the five-year fixed period while obtaining financing for renovations can also be harder than for borrowers who have a variable construction loan or line of credit home loan.
In 1993 borrowers who fixed for five-years with NAB would have done very well.
The cash rate fell to 4.75% in December 1993 but then rose to a high of 7.5% between December 1994 and July 1996.
It only fell back to 4.75% in December 1998.
NAB will be looking to cash in on the growing appetite among borrowers for fixed-rate home loans with Mortgage Choice reporting that more than a quarter of home loans (26%) were fixed in March, up from 20.6% in February and well above the 12-month average of 17.7%.
Demand for fixed-rate home loan is particularly high in Queensland where more than a third fixed their home loan in March, according to Mortgage Choice figures.
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NAB cuts five-year fixed-rate home loan to 20-year low of 5.55%

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Cromwell Property Group has raised $66.5 million from investors for its unlisted Cromwell Box Hill Trust.
The single asset unlisted property trust managed by Cromwell Funds Management Limited was launched in December 2012 to help fund construction of an eco-friendly, 20-storey office building in Box Hill in Melbourne.
The building is 97% leased to the federal government for 15 years from completion and will house the Australian Taxation Office.
The building is currently under construction and due for completion in March 2015.
The building is expected to be valued at $116.8 million on completion.
Cromwell CEO Paul Weightman said the fund raising was strongly supported by a range of investors and financial advisers, including many retail investors and financial advisers investing in Cromwell for the first time.
“We continue to see strong demand for high-yielding investments that are underpinned by quality assets,” he says.
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Cromwell raises $66 million to build ATO building in Box Hill

<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

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