<html><body>
Hi Margaret,
I have been looking for a two-bedroom investment. Do you think Mascot is a good suburb to invest in?
And do you suggest off-the-plan or existing property?
Thanks,
Mag
Hi Mag,
I always find it interesting that investors write to me and ask if a specific suburb makes a good investment.  Thinking about this, usually someone will ask about a suburb because they live near it, or it’s within close proximity to their own home and they feel a comfort investing in property close by.
When someone decides to become a property investor, their first action is usually to buy a property.  They pick a suburb fairly randomly, and then try to get a bargain there. Later, when this investment does not perform as well as they would like, they blame the investment, or property investing in general, never seeing that they are most definitely responsible for things not working out!
Just like any occupation, becoming a good property investor commences with the process of gaining an education.  Asking me if Mascot is a ‘good suburb’ means that you have not acquired the very basic skills needed to become a successful property investor!
The process to choose an area requires you to consider the entire country first, and narrow down which areas within the country show the greatest number of growth drivers.  Growth drivers include things such as a population growing faster than the national average, an abundance of infrastructure development, a median household income growing faster than inflation, a diversified industry base, low unemployment and a strong and active local council.  Most notably, though, an area with these characteristics should also be one which has yet to ‘take off’.  Choosing long established areas may mean that you get some growth, and it may already be a proven performer, but your aim should be to buy in those areas that have everything about to happen, soon, so that you can buy there at an affordable price and before everyone else does.
Considering Mascot, it is well established with little room for the bigger growth drivers to exist to propel the prices along at higher than normal growth rates.  It should be a solid area, but it won’t have that ‘boom’ in prices which makes a great investment.  You need to look further afield to areas where growth drivers exists and where values are yet impacted by these drivers.  In and around Sydney this includes many of the outer Western suburbs and some of the larger regional cities such as Penrith and Bathurst.
With regard to the second part of your question, an off-the-plan purchase carries far greater risk than an established property, and little advantage over one.  It’s very difficult to establish whether the off-the –plan property is being offered at what will be a fair market value – even a registered valuer cannot forecast future values accurately enough to assure you  that what you pay is going to be what it is worth when completed.  When you tie up your borrowing capacity on a yet-to-be completed project, you may not be allowed by the bank to borrow for additional investments, as your true position cannot be determined until the property is complete and owned by you.  If you are getting a loan to buy the property, and the property subsequently has a value less than you have agreed to pay, you may not be able to borrow enough to complete the sale, as the bank will use the value at the time, not your purchase price, to determine how much they will lend.  If you cannot complete the purchase due to lack of funds, you will be sued to proceed and you may lose your deposit.
Confirming an accurate future rent return is also nearly impossible, as this is affected by demand and supply.  Where the development is large, there could well be a sudden oversupply as they all complete and come on line, and you could get far less rent than expected, causing further financial distress to you.
Finally, I’ve seen far too many off-the-plan properties with large commissions built in for middlemen marketing people, meaning what you pay may be well over its true underlying value.  That said, I’d prefer an established property which you can buy today, whose value you can easily confirm and whose rent return is more assured.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
</body></html>

mlomas-KC9MUPZ6Ca

Ask Margaret: Should I buy off-the-plan or an existing property?

<html><body>
Hi Margaret,   
I just wanted to ask if North Wollongong is a good suburb in which to invest in a one-bedroom apartment?  
Thanks,
Enrique
Hi Enrique,
There are many things which make a good investment – demand, infrastructure development, population growth and a good price to name a few.  Areas which display strong drivers in many areas, and are priced well, are usually those which see the greatest future demand and become good investments.  
North Wollongong has been fairly rapidly developed and it’s the unit market where we have seen most of the building.  There are quite a few spruikers actively selling there too, which means that some of these properties may well be overpriced.  
In this area there is a huge disparity between the prices of the newly built, stunning apartments and the older, established ones – up to $300,000 difference within a few streets.  This is telling me that many units are selling off-the-plan or as just completed and there has not been a true test of their value yet.  While people may well be buying them, we will not know the value of these new units until we see secondary sales. For those buying them first, there is a huge risk that the value will not hold up.  
If we add to that the fact that the demographics would suggest that demand in Wollongong is coming quite firmly from families, then we now see several alarm bells – an oversupply of units being presently sold well over market value to a demographic group not well represented in the area.  To me this does not bode well for the ability of these units to either hold their value or see suitable rent return.  
It’s vital that if you find an area which has the growth drivers, you buy the right kind of property there. Wollongong is an area where families live and so you should have families in mind when purchasing an investment.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
</body></html>

Ask Margaret: Should I invest in a one-bedroom apartment in North Wollongong?

<html><body>
Hi Margaret,   
We own a three-bedroom house in Sydney's North Shore and are considering the option of selling and buying a bigger house (we have three children). We bought the house five years ago (brand new) but given what we've spent on landscaping, don't think we'll make much from the sale. Given the current interest rate situation, would you advise holding off selling and buying in the same market (and for how long?) or selling/buying sooner rather than later? 
Thank you very much, 
Kris
Hi Kris,  
From your question, I gather that you are thinking of upgrading your family home to a larger one, and keeping the one you are moving out of until such times as the market is better and more advantageous to sellers.  In theory, this should mean that you buy now while the market is lower, and sell in a higher market.  
There are a few issues with this strategy though:  
<ol>
<li>
Depending upon the current mortgage on the house you live in now, the yields are likely to be very low and not enough to cover your holding costs.  Higher priced homes tend to have relatively lower yields and this makes the gap between what comes in and what goes out much greater than it would be if you owned an investment property in a higher yielding area.  These holding costs soon add up, and if the sale takes longer than you’d hoped, might eat into any increased value you will get from waiting.
</li>
<li>
If your equity lies in the current home, and you need to finance the new home to 100% of its value, your largest debt will most likely be the non tax deductible one on this new home, while your lower debt (on the old house)will be tax deductible.  This is an upside down financial situation to be in
</li>
<li>
As you can only have one Principle Place of Residence (PPOR) exemption, one of the two properties you own will begin to accrue Capital Gains tax (CGT).  If you choose for that to be the one you move out of, then any additional gain you may make by holding off will be further reduced by CGT.  The 6 year rule only applies if you don’t have another PPOR
</li>
<li>
While the North Shore might be considered ‘blue chip’ it does not follow that this is the best investment you can make.  It’s an area which has already had its boom and now, at top prices, movement upward will be significantly smaller. Other areas which are yet to be ‘discovered’ have their greatest period of growth ahead of them, while top end property, once it reaches the top end, tends to have much smaller incremental growth ahead of it. As an ‘investment’ your current home may not be the best you can do.
</li>
</ol>
It might be more advantageous for you to sell now and while you are in the CGT free period, use any un-encumbered proceeds to buy the new home, and then use the equity you have in your new home to immediately leverage back into a 100% loan for a property situated in a true, up and coming hotspot!
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
</body></html>

Ask Margaret: Should we hold off selling and buying again in Sydney's North Shore?

<html><body>
Hello Margaret   
Long-time fan of yours!  Thank you for your insights.   
I am a single mum who has managed to grow (through some tough personal times), a small portfolio of three properties since 2004 in south-east Melbourne.   
I purchased a small development property during the GFC and have sat on this waiting for the “right time” to develop (it's a two-unit site). 
I am fast approaching retirement age (currently 53) and believe I should be developing now, but my “gut feel” says wait. 
How do I know “when is the right time”?   
I have contacted real estate agents to find out rental / sale values and research seems to show the area is devaluing slightly/stagnating as with a few areas of Melbourne. 
However the agents seem to talk up the amount of rent I could receive, as well as the amount I would get for them should I sell, once built. I don’t know who or what to believe. 
My current PPOR (beachside) also has potential for a 3-4 unit site.
Thanks.
 
The decision to develop any site must come after an extensive analysis of both the area, and the potential costs involved, before proceeding.  
It’s crucial that you first examine your capacity to meet budget blow outs and also the holding costs of waiting until this development is income producing.  Among the costs you will be required to meet will be:  
<ul>
<li>
Costs to obtain the DA, which can run to $40 - $50,000 and includes town planners fees and council contributions and fees
</li>
<li>
Costs to retain architects to draw up plans
</li>
<li>
The interest on progress payments as the build progresses
</li>
<li>
Stamp duties and other statutory charges
</li>
</ul>
Even if you are able to access a loan from a bank for the entire amount, you will need to meet the interest payments as you draw down, and you will not have any rental income to support this.  You must try to establish an overall loan amount, workout the interest payments and establish if this is within your capacity to afford.  Make sure you consider the worst case scenario – I have seen developments take years to complete and you will have holding costs right up until you can rent the properties or sell them.  
You also need to then add these holding costs to the overall project amount so that you can determine whether the final product is worth what you are paying to build it.  You would want to see at least a 20% profit margin to make this worthwhile, as there will be capital gains tax to consider.  In order to reduce that capital gains tax, you will need to ensure that you hold the properties for 12 months past the contract date to get the 50% discount, although if you are building with the intention to sell for profit, the tax office may treat you differently and you may not get the discount.  
There is so much more I could say about this, but I think you get my drift at this stage – developing is quite a risky venture and if you are a single mum who has worked hard to get where you are, you are about to add a level of risk to your investing which has the potential to undo all of your hard work.  
Your other option is to sell this development site to another developer and you might like to put in place the DA approval first, which can often make the property more saleable.  This still has costs attached though, which you will need to meet with no guarantees that you will recoup it via a gain to the value of the property.  
You should speak to a town planner to get a good idea of what you may be up for regarding costs, and then to a qualified valuer to see what potential value you might get out of building.  Then perhaps even talk to a builder about the costs of the build so that you can establish a ballpark project cost before making any decisions.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

Ask Margaret: when is the right time to develop my investment properties?

<html><body>
Hi Margaret, 
I have a brand new property settled in early June 2012. I have lived in it since settlement and claimed it as my principal place of residence until Jan 2013 after which I moved out and rented it out. 
I have also obtained a depreciation report and am trying to decide if I should depreciate or not this financial year. 
Since I’m claiming this property as my PPOR, if I sell within the six-year rule, what are the CGT implications caused by me depreciating? Will I still be fully exempt from paying CGT? 
Furthermore, my depreciation report lists a maximum I can claim every year. Since my property was settled early June 2012 (i.e. in the 2011-2012FY) does this mean this year I would only be able to claim a pro-rated amount on the year 2 figure on the report?
Thanks,
Min
Hi Min,
You have a number of questions here so I will deal with them one at a time:  
<ol>
<li>
As you probably know, you have a six-year window from Jan 2013 to either move back in, or sell, to avoid CGT.  Be aware though, that this is only possible as long as you do not own another property in which you live and on which you wish to claim the principal place of residence exemption.  The rule is that only one property can have the exemption – so if you have bought something else to live in, that may be the one you apply the exemption to, therefore losing this six-year window on the one you moved from.
</li>
<li>
Your depreciation report should show you the amount of depreciation available for the remainder of the year and then for each of the subsequent 9 years.  There is no real reason not to claim the depreciation in this FY as it does not roll over or accumulate – therefore not claiming it will not result in a better outcome next year.  Often, due to low value pools and items under $300, there are immediate write-offs for some items which can boost the amounts claimed.
</li>
<li>
There is no CGT impact, as far as I am aware. If we assumed that you bought an item, or the quantity surveyor specified the items and you subsequently write them off each year (as you would from your report) your accountant will most likely treat the depreciable assets as sold at written down value, so there is no write back of depreciation.  My tax expert tells me that the majority of contracts do not specify a value of these items, so the treatment of writing down the value is in accordance with the general rules around depreciation.
</li>
<li>
If you obtained the report when you bought it, rather than when you rented it for the first time, then an adjustment must be made for days rented/days not rented.  If it’s only just been prepared then this report should make allowances for when it first became income producing and provide a figure to be used from that date (therefore the report amount is the full amount which can be claimed).  If you are not sure you should go back to the quantity surveyor and ask them to give you an exact amount calculated from the date it was first rented until the end of the FY.
</li>
</ol>
Remember, I am not a tax accountant or a quantity surveyor and this general information is provided based on my experiences.  You really should consult both of those professionals who can accurately establish your true position in relation to tax.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

Ask Margaret: what are the tax implications of depreciating my principal place of residence?

<html><body>
Hi Margaret,
I am currently residing in Wisconsin, USA however I own a two-bedroom townhouse in north-western Sydney. I am interested in potentially selling this property with a view to buying a property in the USA. When, in your opinion, would be the optimum time to sell in Sydney in the next 6-18 months, and why? Thank you for any information and advice you may be able to provide. Kind Regards, Michael
 
Hi Michael,
I’d have to say that the optimum time to sell a property in Sydney is not likely to be in the coming 18 months at all!  Of course this will depend very much upon where your property actually is, but if it is somewhere around the Hills District, which I imagine it is since that is North Western Sydney, then this is an area which is slated to continue with some respectable growth.  
While the area has, over the past 15 years, had a population growth of almost twice that of Western Sydney, there is more to come yet. Industrial and office rents consistently rank well below the Sydney average, which means that business is well and truly attracted to the area. Purchase costs for commercial and industrial property also rank lower than the Sydney average and this should enhance employment growth.  
While question marks still hang over the development of good transport infrastructure, this must come, since the population is showing no signs of slowing down. There are some significant land releases planned which, for a time, may cause growth to hover a little, but an upward climb should still be seen.
In my opinion, I wouldn’t be likely to buy in right now, as to do so would be at the cost of buying into a market which will boom sooner, however I also would not be inclined to sell, unless you bought the property for a song and already have significant gains.  If that’s the case then selling now, or in 18 months’ time, won’t make a lot of difference.  If not, then I’d be hanging around for the gains likely to be seen over the coming 10 years.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
 
</body></html>

Ask Margaret: is there a good time to sell in Sydney soon?

<html><body>
Hi Margaret,   

I would like to ask you how one can go about converting residential property into commercial property such as a medical centre.  

What are the pros and cons of doing that?

Thanking you.

Regards,

Opinder

<hr>
Hi Opinder,

The answer to this question may vary a little from state to state – each state has their own department of planning and, sadly, not all states are on the same page with the same rules.  

Having said that, and generally speaking, the ability to convert a standard residential property into a commercial property is going to depend upon the current zoning.  Note that this is different from electing to run a home business from a residential property – in some councils that may also need some kind of approval, however the purpose of such a venture does not specifically change the purpose for the building itself.

Where you wish to turn a house into a doctor’s surgery or some other business, the zoning must be appropriate for the new use.  This is because there are many considerations to make: – will there be sufficient parking so that the neighbours properties aren’t affected by cars in the street? Will the business affect the peaceful habitation of homes in the area? Will the presence of customers have any kind of impact which may be detrimental to the area? and so forth.  

[smartcode_project:default project_id=8669]

In some cases there may already be a commercial zoning or a ‘mixed business’ zoning in place, and in these cases often doctors’ surgeries and the like are allowed.  However, where the zoning is purely residential, then the intended use will either be not allowed, or you will have to apply to council for a change in zoning.  

In these circumstances it’s often better to engage a town planner to assist you with the application.  The money you spend on such a professional will most likely save you countless hours of your time.  The town planner can usually give you a good indication of your chances of success before you incur much time, or spend much money.

Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" rel="nofollow" target="_blank">Destiny</a>.

Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

Ask Margaret: how can I convert residential property into commercial property?

<html><body>
Hi Margaret,
I have a number of properties in my portfolio and I know that you do too.  Can I ask – do you have yearly pest inspections done on each property?  My agent says I need to do this, but this is quite costly and usually it doesn’t turn up anything.  Are they required, or is the property manager on a commission with the pest inspection companies?
Sarah
 
 
Hi Sarah,
Mostly we need to be able to trust our property managers to advise us on what we need to do with our properties, and when, but you don’t have to take all of their suggestions on board and carry them out.  In the end you are the owner and common sense should always prevail.  Whether you get yearly inspections done, or not, is up to you and will depend upon many things including the age of the property and its history of pest activity.
My suggestions are:
<ul>
<li>Ensure that, before buying, you get a pest inspection done.  Your legal person or real estate agent should be able to point you to a qualified professional</li>
<li>Read and be familiar with it – it will outline the risks for the future.  You might even use this as a negotiating tool</li>
<li>Some properties at higher risk may need regular inspections and I highly recommend yearly in this case</li>
<li>Others, and depending upon your report, you can probably do every 2 or 3 years, but always read the reports thoroughly.</li>
</ul>
Some property managers will automatically suggest pest inspections be done yearly, and while I don’t think they are on any commissions for this, they may not always be necessary.  I always tell all of my property managers not to arrange anything without my prior approval, and I treat each property differently, according to its age, the level of risk it has and the findings in that original pest report.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
</body></html>

Ask Margaret: do I need annual pest inspections on my investment properties?

<html><body>
Dear Margaret, We are aware of the benefits of having a depreciation schedule compiled for investment properties. Can you tell me if there is any benefit in having a depreciation schedule compiled for one's principal place of residence? Many thanks,
Maria
While I frequently talk about depreciation, I guess we haven’t really painted the picture of how it looks as a bottom line.
Basically, all of the fixtures, fittings and furniture in any income producing property are eligible for you to make a claim for the depreciating value. This is done in consideration for the fact that one day you may have to replace them, and getting the tax breaks can help you to save up for that eventuality.  In a nutshell:
<ul>
<li>Each item has a different rate depending upon its effective life.
</li>
<li>Each year you work out how much value has been ‘lost’ and deduct from the income.  
</li>
<li>No money is lost, only value. That’s why we call it ‘on paper’.
</li>
<li>The same applies to the building but over 40 years
</li>
</ul>
Each movable item has a different rate that you can claim depending upon how long the tax office thinks it will last – usually between 2 and 10 years. This means that each year you work out how much value has been ‘lost’ and take that amount off the income.  
You haven’t lost actual money here, only value, but you do get actual money back as you now pay less tax on the income.  That’s why we call it ‘on paper’. You can do the same with the building, but it takes longer for that to run out, being 40 years
The extra tax you get back helps a lot with your cash flow – in essence the rent, plus your extra tax, make up your cash inflows, while your expenses make up the outflows. Claiming depreciation can mean that you reduce the gap between what comes in and what goes out and helps you to stay in the market longer!
As for your own home, as it does not produce an income there’s no point in having a schedule done as you cannot make any claims there. If you move out and make it a rental, you can have one done at that time.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
</body></html>

Ask Margaret: do I need a depreciation schedule for the home I live in?

<html><body>
Hi Margaret,
 I was wondering, if I buy a house that can be rented out on the short-term holiday rental market, can I, if I wanted to, stay there and rent this back from myself?
 Regards,
Scott
Hi Scott,  
The issue of whether you can rent it back from yourself is only one of the many to consider, and when you buy such a property you have to think of them all! Often the ability to get some kind of personal benefit from a property causes investors to buy property which is not in a potentially good area and which, without the benefit of the holiday option would not be a good investment at all.  
Here are some important points:
<ul>
<li>
The tax office may not see this as an arm’s length transaction if you stay there yourself and may not allow claims for that period
</li>
<li>
Paying the rent, or not receiving the rent if you stayed there free, is pretty similar and still represents a period of personal benefit
</li>
</ul>
Scott I am unclear as to why you would be doing this anyway – paying rent to yourself, presumably via the manager who would be looking after it, means you only get the net rent after management costs.
As I said earlier, the problem is that few places we would like to holiday too are actually good places to invest and a holiday unit is often amongst the worst type of property too. Therefore, doing this could mean you would end up with a bad property, in the wrong area, just for the few weeks benefit, which is not a benefit since you are paying rent anyway!
Stick to buying great properties in strong areas which you legally rent to bona fide tenants – build up a solid portfolio and soon enough you’ll be choosing to holiday anywhere you want.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

Ask Margaret: can I rent my holiday house from myself?

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.

Joel Robinson

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>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Margaret Lomas

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News