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Perth apartment values rose a noteworthy 5.3% in the space of a month to a median of $420,000, according to the latest RP Data-Rismark index.
This made it the top performing capital city housing market across both detached houses and units over March.
Perth's unit price gain over March was more than seven times the 0.7% gain recorded across all capital city unit markets.
In contrast Canberra unit values fell 2.5% over March to a median of $414,000.
According to RP Data, Perth units offer a  rental yield of around 5% with the highest potential returns in Darwin (6.3%), Canberra (5.6%) and Brisbane (5.6%).
 
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Perth unit values up 5.3% in a month: RP Data

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The administrators of collapsed mortgage fund manager LM Investment Management (LMIM) are reportedly investigating possible irregularities in the running of the $401 million fund that predominantly invested in the Maddison Estate residential development at Pimpama on the Gold Coast.
The collapse of the fund manager has left small investors and overseas investors facing cumulative exposures totalling around $740 million.
All funds managed by LMIM have been frozen with John Park and Ginette Muller appointed as voluntary administrators on March 19 2013.
A customary first meeting of creditors will take place today on the Gold Coast, but the administrators from FTI Consulting say it is a “procedural” meeting with "no details of a solution" raised for investors.
Overseas-based creditors will have the opportunity to dial in to the meeting.
<a href="https://www.propertyobserver.com.au/residential/jamie-durie-s-garden-designs-wilt-as-gold-coast-mortgage-fund-manager-lm-investment-management-placed-in-voluntary-administration/2013032459976" target="_blank">The $1 billion Maddison Estate</a>, with its landscaping features designed and promoted by celebrity gardener Jamie Durie, was the primary investment vehicle for the LM Managed Performance Fund, which invested $234 million in the project via second mortgages – representing 60% of the fund.
Suncorp had provided a $22 million first mortgage over the project, with the loan expiring on March 31.
A circular issued to creditors by the administrators reveals that Australian commercial loans comprise 96% of the fund with direct property making up just 0.8% of its assets.
The fund was open to overseas investors introduced via a financial intermediary.
“Management has advised it is not uncommon for a special purpose vehicle to be incorporated to hold the registered title to the development site.
“A first mortgage is then secured against the development site for part or all of the build cost and the fund takes the second ranking mortgage behind the financier for the build,” says the circular to creditors.
The Australian Financial Review reports that FTI Consulting will apply to the Queensland Supreme Court to be appointed receiver of the LM Managed Performance Fund, giving FTI Consulting greater powers over the potential sale of assets.
At today’s creditors meeting, voluntary administrators will report on the company’s business, property, affairs and financial circumstances, and on the three options  available to creditors.
These are:
• end the voluntary administration and return the company to the directors’ control
• approve a deed of company arrangement through which the company will pay all or part of its debts and then be free of those debts, or
• wind up the company and appoint a liquidator
A second creditors meeting to determine the fate of LMIM is due within 25 or 30 business days of the appointment of voluntary administrators, but the AFR reports that FTI Consulting are expected to apply for an extension until July 25 due to the complexity of the funds managed by LMIM.
FTI Consulting has set up a <a href="https://www.lminvestmentadministration.com/notifications" target="_blank">dedicated website</a> covering the administration of LMIM.
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Irregularities suspected in LMIM's Maddison Estate mortgage fund: reports

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Owners and managers of strata apartments will be able to set up micro social networks for their apartment blocks to share key documents, run polls and host online discussions following the launch of a new service by real estate social media site Housenet.com.au. 
Housenet ‘strata pages’ allows managers or owners to create micro social networks for their building in minutes. 
“Our research found that communication and information management in strata schemes, especially self-managed, is often diabolical. There is no industry standard; some are using old clunky share software, others group emails – it’s a complete mishmash,” says Darren Moffatt, founder and CEO of Housenet. 
“Strata Pages solves this problem. It provides a central online place for scheme updates, minutes, budgets, documents, events, and discussions. It even has a polling feature, which we think will be especially useful in the lead up to NSW strata reforms.” 
Moffatt says the launch of strata pages taps into an international trend of niche social networks with overseas examples including <a target="_blank" href="https://www.honestbuildings.com">www.honestbuildings.com</a> and <a target="_blank" href="https://www.nextdoor.com">www.nextdoor.com</a>. 
He says industry feedback has been very positive on the new feature, which has the backing of Rosy Sullivan, principal of Australian College of Professionals, the largest trainer of strata managers in Australia. 
Sullivan says she intends to include the platform in her course material for strata managers. 
Moffat says strata pages will aim to address to key issues affecting the strata industry: disputes between lot owners and communication. 
“Our platform is all about cutting conflict and saving time. We think it can transform how people experience strata, and with 50% of the population projected to live in high density by 2035 there’s a real need for something like this.” 
“Strata Pages makes it easier for all stakeholders in a plan to store and share information, manage relationships, and meet their legal obligations. Our simple Facebook-like interface makes it easy to use, and it’s also great for building a sense of community in the building and meeting the neighbours.” 
Housenet.com.au was launched in September 2012. It’s a social networking site where industry and consumers can sell, buy, rent, share and talk property for free. 
Readers can find an example of the new strata pages service here: <a target="_blank" href="https://www.Housenet.com.au/strata">www.Housenet.com.au/strata</a>
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Social media site Housenet launches dedicated micro networks for apartment blocks

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Three out of the four major banks expect the RBA to cut the cash rate to 2.75% in June, according to the latest Bloomberg survey of economists.
Economists are unanimous though that there will be no rate cut today with all 28 economists surveyed just before the Easter break agreeing the cash rate will remain at 3% over April.
They are fairly certain of no rate cut in May with 23 out of 28 economists expecting the RBA to hold firm again.
However, chief economists at ANZ (Warren Hogan), NAB (Alan Oster) and Westpac (Bill Evans) all expect the RBA to cut the cash rate to 2.75% on June 4.
The Commonwealth Bank’s Michael Blythe expects no more rate cuts over the course of 2013.
In the last few weeks, <a href="/news">Westpac lifted its two-year fixed rate back above 5%</a>, signalling that fixed-rates may have bottomed out.
However, a day later, Australia’s biggest mutual lender <a href="/news">CUA</a> cut its three-year fixed rate to 5.1% – one of the lowest offerings on the market.
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 2:
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">
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">
Easy Street
</td>
<td valign="top" width="124">
Honeymoon Home Loan Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.70%
</td>
</tr>
<tr>
<td valign="top" width="134">
UBank
</td>
<td valign="top" width="124">
UHomeLoan for refinancing
</td>
<td valign="top" width="97">
5.12%
</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 one year
</td>
<td valign="top" width="95">
4.83%
</td>
<td valign="top" width="114">
5.34%
</td>
</tr>
<tr>
<td valign="top" width="137">
AMP
</td>
<td valign="top" width="123">
Affinity Package Residential Fixed 1 yr 100k+
 
</td>
<td valign="top" width="95">
4.84%
</td>
<td valign="top" width="114">
5.63%
</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">
AMP
</td>
<td valign="top" width="131">
Affinity Package Residential Fixed
</td>
<td valign="top" width="96">
5.04%
</td>
<td valign="top" width="111">
5.55%
</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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Major banks favour June rate cut: guide to lowest fixed and variable mortgage rates

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The RBA has highlighted the more "prudent" approach Australian households are taking to managing their finances since the GFC in its latest Financial Stability Review.
This, it says, can be seen in "households' reduced appetite for taking on additional debt since the financial crisis".
<img src="/images/stories/2013/04/rbaapril2onethumb.gif" width="470" height="440" alt="rbaapril2onethumb">
"Household credit growth has been slower in the past five years – at an average annual rate of around 5.5% – than in the 20 years prior, when it averaged around 13.5%," says the RBA.
"Within household credit, personal credit has declined over the past five years, with a large fall in margin loans partially offset by modest growth in credit card debt.
"Growth in housing credit has also slowed over this period, to a current annual rate of around 4.5% despite a moderate pick-up in the value of housing loan approvals in the past few years," says the RBA.
The propensity among Australian <a href="/news">households</a> to reduce their debt burden was revealed in the RBA chart pack released in March.
Debt levels peaked at around 150% of household disposal income in the years preceding the GFC, having risen rapidly in the 1990s and early 2000s.
<img src="/images/stories/2013/04/rbaapril2twothumb.gif" width="470" height="421" alt="rbaapril2twothumb">
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"Prudent" households have reduced their debt appetite: RBA

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The appeal of acquiring residential investment property by borrowing through a self-managed super fund (SMSF) has been revealed in the latest Genworth Homebuyer Confidence Index.
The report found that almost one in ?ve (18%) of surveyed SMSF holders have a mortgage through their fund, with the majority of these mortgages (75%) secured on residential property.
Among those who don’t have a mortgage on a residential property through their fund, a quarter would consider taking one out, and a quarter of those without commercial property would consider taking out a mortgage on a commercial property through their fund, Genworth found.
Property makes up about 15% of the total value of assets held by Australian SMSFs, the majority of which is made up of Australian property (less than 1% is made up of overseas property), according to ATO figures.
The value of residential property held in SMSFs grew by 12.3% in the year to December 2012.
The Genworth report also found that just over half (59%) of all mortgages were held in multiple member funds - multiple member funds make up the majority of all SMSFs, with most being two member funds, according to ATO data.
The most recent ATO figures for the December 2012 quarter reveal the  growing popularity of SMSFs with around 7,000 new SMSFs established over this period.
The ATO revealed this week it expects more than <a target="_blank" href="/news">1,000 applications a week </a>to be lodged for SMSFs in May and June this year.
Almost 950,000 Australians are now members of an SMSF.
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One in five SMSF holders have a mortgage through their fund: Genworth

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The revival of the housing market is once again helping Australians become wealthier, the RBA has noted in its latest Financial Stability Review.
"Households’ net wealth has been rising recently due to the recovery in housing and other asset markets as well as continued higher saving and borrowing restraint," says the RBA in the March paper.
The paper also notes the continued preference for households to reduce their debt and make extra mortgage repayments to create a buffer and a reduction in overall financial stress.
"Many households still prefer to repay existing debt rather than take on new debt, which has contributed to the slower pace of household credit growth and an increase in mortgage prepayment buffers.
"Debt-servicing capacity has also been boosted by lower interest rates.
"Despite the unemployment rate having drifted up a bit over the past year, housing loan arrears and other aggregate measures of financial stress in the household sector remain low.
"Household indebtedness and gearing are nonetheless still at historically high levels, and hence continuation of the household sector’s more prudent approach to borrowing would assist in strengthening the sector’s financial resilience," says the RBA.
<img src="/images/stories/2013/household_wealth.png" width="519" height="580" alt="household_wealth">
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Housing market helping to make people wealthier again: RBA

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Fund manager AMP Capital has increased its stake in the Australia Pacific Airports Corporation (APAC), owner of Melbourne and Launceston Airports, to 45.3% following a $157 million investment on behalf of funds and clients. 
The investment increases AMP's investment in APAC by  3.5%
AMP the largest shareholder in APAC.
AMP has managed an investment in Melbourne Airport since 1997 when the airport was privatised, and Launceston Airport since 1998. 
In 2012 AMP Capital took a 49% interest in Newcastle International Airport in the UK. 
“Melbourne Airport is one of the best performing airports in the world and it serves around 29 million domestic and international passengers per annum,” said Paul Foster, AMP Capital’s head of infrastructure, Australia and New Zealand. 
“The additional investment has been funded by a broad range of our Australian superannuation fund clients who had strong appetite to increase their exposure to a high quality core infrastructure asset which has delivered strong returns since inception.”
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AMP Capital ups investment stake in Melbourne and Launceston Airports to 45.3%

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The Ray White Surfers Paradise office maintained a 70% auction clearance rate in March, matching the recent auctions success of Sydney and Melbourne.
It was the third straight month that the office had managed a 70% clearance rate.
In addition, bidders-at-auction numbers are rising as buyers appear more willing to meet vendor expectations, says Ray White <a target="_blank" href="/news">Surfers Paradise</a> chief executive Andrew Bell.
Out of 20 properties up for auction at March auctions held last weekend, nine sold under the hammer and five sold prior to auction.
The highest price paid was $1.93 million for a four-bedroom, four-bathroom house at <a href="https://www.domain.com.au/Property/For-Sale/House/QLD/Ashmore/?adid=2010294478" target="_blank">9 Kootingal Street</a> (pictured below) in <a target="_blank" href="/news">Ashmore</a> with five bidders competing.
{yoogallery src=[images/stories/2013/03/march28ashmore]}
The house has a swimming pool and tennis court on its 4,507 square metre block on the banks of the Nerang River. The 1980s property last sold in June 2006 for $2 million.
Another four-bedroom house in the same suburb on Riverbank Court on a block about a quarter of the size sold for $950,000 in July last year.
“The clearance rate shows that there is increasing competition among buyers, producing very good outcomes for vendors because many of the properties sold above reserve.”
“When you couple this with a lack of stock on the market we are seeing a very good environment for sellers through the auction process, which is proving the best of any form of sales program at present,” he says.
Bell estimates solid gains in property prices over the first three months of the year with owner occupiers, investors and lifestyle buyers all active.
“From our read of the market, prices are up between 5% and 7% through the first quarter of the year.”
This follows a <a href="https://www.propertyobserver.com.au/auctions/gold-coast-has-lion-s-share-of-auctions-this-week-as-ray-white-and-others-hold-mega-auction/2013012358937" target="_blank">70% success rate at Ray White’s annual The Event</a> which saw around 120 residential, prestige, industrial and commercial properties as well as land sites and even boats auctioned.
 
<hr class="system-pagebreak">
Bell also notes increasing numbers of bidders at auction.
“We’re averaging around four bidders by property, a rising percentage with most of the properties selling in excess of the reserve price,” he says.
Bell says the recovery in the market is not confined to the upper end.
“There is a good mixture from the very top right through all spheres,” he says.
Bell says there are two reasons for the recovery: low interest rates and that buyers have identified that properties are offering good value.
“The buyers have stepped up a notch to meet sellers who have had realistic expectations for some time.”
Buyers have been hard on the market in the past, he says.
The recovery in prices follows five years of what Bell calls “significant price correction”.
“When the market comes back it does tend to spike. I expect it will level off and there will be more consistent growth - interrupted by federal election.”
He also anticipates that firming interest rates could take some momentum out of the market.
Additional reporting by Charmaine Wong.
 
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Surfers Paradise matches Sydney and Melbourne with 70% auction clearance rate

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The $12.5 billion Westfield Retail Trust has reported a modest 2% rise in earnings for the 2012 financial year noting the expansion of international brands in its malls.
The trust comprises 38 Westfield's in Australia and nine New Zealand shopping centres with more than 12,000 shops.
The REIT reported $573 million in distributable earnings for the year ending December 31 2012.
Retail sales reached $20.9 billion with speciality retail sales of $9,852 per square metre in Australia and a portfolio occupancy rate of 99.5%.
The Westfield Retail Trust completed $1.5 billion in developments including Westfield Sydney (completed in April 2012) and the redevelopment of Westfield Fountain Gate (the biggest in the porfolio at 174,000 square metres) with a development pipeline of $1.2 billion.
The portfolio delivered a yield of 6%.
Westfield Retail Trust managing director Domenic Panaccio called it a "strong financial result" noting that several international retailers had entered or expanded their operations" among the portfolio of malls.
The portfolio is home half of all Zara stores in Australia and a third of all Apple stores.
Panaccico says he expects 2013 to continue to present challenges but says the trust's high quality shopping centres "remain the first choice for many domestic and international retailers".
This year the trust will commence redevelopment of Westfield Miranda and Westfield Mt Gravatt.
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Westfield retail trust reports 2% rise in earnings and growth of international brands

<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.

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MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

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

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

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