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Hi Margaret,
I just read your recent reply on <a href="/news">moving out of your home and the capital gain tax that may come with it</a>.
Wonder if you could help me with this.
Just to clarify, if I stayed in my home for three years and if I sell it 10 years after moving out from it, and I have no other home, I would have to pay 4/13 of the net captital gain (method one)?
Can I get a valuation after the six years is up an calculate the gain from that date and pay tax on the difference (method two)?
I think the Australian Tax Office (ATO) website seems to deal with method one. Is method two also possible?  My six years is up in a years time and I am contemplating whether to sell since I live overseas.
Regards,
Shanthi
Hi Shanthi,
This part of the tax rules can be very confusing - and can be really hard to wrap your head around.  Where tax is concerned its really important that you contact an accountant, tell him or her your exact situation and tell him or her just how the rules apply to you, and what you will pay.
I have checked with Ian Rodrigues, my Property Success team member and tax specialist, and we talked your situation through.
You can choose to treat a property as your main residence even after you move out provided you do not choose another property as a main residence during that period and it is not rented.  This means that, if you didn’t own anything else, and you didn’t rent out this property, you can keep the main residence exemption on it indefinitely and pay no capital gains tax.
If it is rented out, however, the maximum period you can treat it as your main residence after you move out is six years.  You can move back in during the six years and the six year period will reset. If you continue to own the property after the six year period has expired,  you only get a partial exemption.
In your example, if you lived in it for three years, and then rented it for 10 years, you would have to pay capital gains tax on 4/13th of the gain.
You can't use a valuation after the six years for the basis of calculating the capital gain , but you are able to use a valuation at the date it ceased to be your main residence.  In your case, this was three years after you purchased it. The capital gain would  then be calculated as 4/10th of any gain over that market value.
You will need to get a qualified valuer to provide you that retrospective valuation if you don't have one from that time - the ATO is unlikely to accept a market opinion from a real estate agent where no valuing qualifications are held.
Again I stress that you should discuss this with an accountant who has a good grasp of capital gains tax and main residence exemptions.
Have a property question?   <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: How do I work out how much CGT I will pay on renting out my old home?

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Hi Margaret,
I am a fortunate Aussie expat whom has just reached five years overseas. As expats our land tax exemption in Queensland is only $350,000 per person. 
My wife and I own two properties in Brisbane and are looking to purchase our third and future home.  Our tax planning strongly requires us to increase our current debt levels.
Unit : $200,000 land value, 50/50 ownership,principal place of residence up to end 2009.
Post war 810 square metre splitter: $405,000 land value, one title, 100% my name.
Future home: $800,000 to $1 million, 50/50 ownership.
Do you have any recommendation on how we can eliminate or reduce our land tax exposure after the purchase our new home while remaining oversees?
We are likely to face an $8,000 to 10,000 yearly land tax bill.  We have considered selling our unit as we can still access the capital gains exemption and going forward it is not likely to provide growth to match the cost of land tax.
I look forward to your assistance.
Thanks
Julyan 
Hi Julyan,
It always worries me when the tax accountant’s response to saving tax is to increase your level of borrowing.
While I support borrowing to invest, the amount of debt you ultimately obtain must suit your personal appetite for risk, not some accountant’s attempt to reduce your tax.
It’s all very well to say ‘get more debt’ but to do so without care and extremely careful planning around what you buy might just end up diverting those saved taxes into property losses when you buy the wrong property!
You cannot get the usual principal place of residence (PPOR) exemption on your land tax as you do not reside here – and so the normal thresholds that apply to property other than your own home apply to you, as you have so rightly pointed out. 
Once you make this next property your home, it will come under the exemptions, so maybe you need to consider the length of time it will be just an investment and calculate the total amount of tax you will actually be up for – then assess if this amount is worth getting into the market now. 
It could be that the amount of money you save by buying now, assuming what you buy goes up in value, is more than the tax you have to pay, making the payment worthwhile.
In addition to this you could: 
<ol>
<li>Explore how you can make your PPOR your own home – this may entail coming home for a month to live in the newly acquired property as soon as you settle, then invoking the six year rule to move out of it for up to six years.  While this deals with capital gains tax it may also deal with land tax too – you must check with the QLD office of state revenue for their policy on PPOR exemptions and it’s relation to land tax. 
</li>
<li>Instead of buying a property now to live in, instead look for additional investment properties but choose them in a state other than Queensland.  Land tax is a state based tax and you get a tax free threshold in each state!   Note that the threshold is different in every state, but this could allow you to add to your portfolio with growth assets without further burdening your land tax liability. 
</li>
<li>If you must stay in Queensland, consider buying a commercial property, where land tax is an outgoing recovered from the tenant.</li>
</ol>
Apart from these ideas, land tax is a fact of life and one which has no legal way of avoiding.  As with all tax advice though, be sure to contact an accountant to discuss your needs, and choose one who can demonstrate a sound knowledge of property investing tax matters.
Regards,
Margaret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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Ask Margaret: How can I reduce my land tax exposure?

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Hi Margaret,
My partner brought a block of land in 2011. 
We were wondering whether we have a limited time to build a home before capital gains tax (CGT) is applicable to us?
Thanks in advance,
Ryan
Hi Ryan,
I am assuming that you purchased this block of land with the intent to build a property in which you will personally live, rather than build a property as an investment.  If it is to build as an investment, then of course CGT is going to apply immediately from the date of your contract to buy.
If you bought to build a house of your own on, the tax office <a href="https://www.ato.gov.au/General/Capital-gains-tax/In-detail/Real-estate/Treating-land-as-your-main-residence/" target="_blank">has this to say</a>:
"Generally, if you build a dwelling on land you already own, the land does not qualify for exemption until the dwelling becomes your main residence for capital gains tax (CGT) purposes.
"Vacant land may also be treated as your main residence if it is vacant because your home has been destroyed.
"However, you can choose to treat land as your main residence for up to four years before the dwelling becomes your main residence in certain circumstances. You can choose to have this exemption apply if you acquire an ownership interest (other than a life interest) in land and you:
<ul>
<li>
"Build a dwelling on the land
</li>
<li>"Repair or renovate an existing dwelling on the land, or </li>
<li>"Finish a partly constructed dwelling on the land.</li>
</ul>
"There are a number of conditions that you must satisfy before you can claim the exemption. You must first finish building, repairing or renovating the dwelling and then:
<ul>
<li>"Move into the dwelling as soon as practicable after it is finished, and continue to use the dwelling as your main residence for at least three months after it becomes your main residence."</li>
</ul>
Reading this it would appear that, as long as you do not own another property on which you are also claiming the principal place of residence exemption, you have four years to have the house ready to move into.  
Make sure you check with your accountant to see how this might apply to you though, as your personal circumstances may be very different.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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Ask Margaret: Is there a time limit to build on land before CGT applies?

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Hi Margaret,
Can I move out from my own unit and rent a bigger place to live and claim my unit as an investment unit?
Kind regards,
Ramin
 See Margaret Lomas' answer on the next page.
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Hi Ramin,
You can move out of your principal place of residence, rent out your former home and claim all expenses and interest costs as a tax deduction as soon as it becomes available for rental, and as long as you also declare the income you receive. 
If you don’t have another property that you can apply your principal place of residence exemption to (for example, if you rent where you live) then you can have up to six years exemption from capital gains tax too, at the end of which you will need to either move back in, or sell.
Whether you should rent it out or not is another thing entirely.  Here are some things to consider:
<ol>
<li>If the loan on your home is presently quite low, and the one on any new family home you intend to buy is larger, then potentially you might be upside down from a financial perspective.  As your own home is non- deductible, then the interest repayments might be a high, non- deducible amount while those on your newly created investment property would be low, and a taxable profit situation may result. In this case it may be better to sell the family home while it is still capital gains tax free, use the proceeds to buy your new home with a low loan, and then use the equity to get a fully deductible loan to buy an investment property elsewhere. 
</li>
<li>It’s rare that people happen to live in an up and coming hotspot – therefore keeping the current home may not be the best investment.  It’s easy to think that you live in a great area but the reality is that it might not have the fundamentals required to perform well from both a yield and growth perspective.  Therefore, keeping it becomes an opportunity cost or not buying a better investment in a better performing area. 
</li>
<li>It can be very difficult to watch a tenant move into a home that was once your pride and joy.  It’s a fact that it simply won’t be treated how you want it to, and your emotional attachment may make you a bad landlord!</li>
</ol>
I have rarely seen the best option being to keep a former Principal Place of Residence. At this stage you need some good advice from a qualified property investment adviser who can help you make this decision as a part of a complete strategy which considers all of your financial and investing needs, rather than just this single, short term decision.
Regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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Ask Margaret: Can I claim my unit as an investment if I move out?

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Hi Margaret,
I was reading about Capital Gains Tax (CGT) on principal residences and I was wondering if CGT is applicable on an elderly parent’s home after they have moved to a nursing home. If the home is rented out to pay for the ongoing expenses of nursing care, is CGT applicable after she has passed and the home is sold? Alternatively, if a family member lives in the home until such time as she passes, is capital gains also applicable?
Presently there is family division (as usual) about the way her assets and home should be managed.
Regards,
Katherine
Margaret Lomas' answer is on the next page. Please click below.
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Capital gains tax is a complicated issue, and I wanted to be sure I got this right for you, so I called my Property Success resident tax expert, Ian Rodrigues, and checked that my understanding around this was correct.
If you own a Principal Place of Residence (PPOR) from which you are absent and you rent it out, you have a six year period where you can have an exemption from CGT, as long as you don’t claim another PPOR exemption. 
If you don’t rent it out, the amount of time that you can claim that exemption is unlimited. This would mean that, as long as the period did not exceed 6 years, renting it out in order to help pay those expenses would be OK. 
Once she passes, the status of the person’s CGT position shifts to those who inherit – if it is still considered her PPOR (so in that six year period) then the CGT status transfers, and the beneficiaries have two years to sell before they incur CGT.
If a family member lived there, and it was to simply take care of the place for your mother, and not a market based arrangement on the same terms as a third party tenant, then this would likely be considered to be the same as if no one lived there.
Of course, if your mother bought the property prior to 19 September, 1985, then all of the above is moot – it’s a pre CGT asset anyway and no CGT applies in any circumstance.
Always check with a good accountant or even the tax office itself though, to ensure that your own situation is covered by these rules.  It’s quite easy to get a private ruling in the event that no one seems sure and that way, you have it all in writing!
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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Ask Margaret: Is CGT applicable if an elderly resident moves to a nursing home?

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Hi Margaret,
I have just bought an investment property, which included doing a building inspection.
But prior to buying the property I also had a building inspection done on another property that I was looking to get as an investment which I did not go ahead with.
Are both building inspections tax deductible or just on the one I bought please?
With thanks
Geoff
Hi Geoff,
When buying an income producing property, the expenses which are associated with that are treated differently, depending upon what the expenses were and when they were incurred.
Where a building inspection is concerned, this is considered what we call a 'capital cost' and it is claimed by adding it to the cost base.  This means that you do not get an immediate deduction for it (as in, you cannot claim it in the year that it was incurred to get some of your tax back ion that year) - rather, it adds to your cost base and essentially reduces the gain you have to account for when you sell, reducing the amount of capital gains tax you must pay.
If you do not buy the property, you have no cost base to add it to so it is not claimable at all.
If you want to claim these kinds of costs, you must be in the 'business of buying rental properties' or in the 'rental property business'.  If your are assessed as being in one of those categories, then there are many extra things you can claim, but you will be treated like a business with all of the associated requirements and lose the 50% discount on CGT when you sell.
Regards,
Margaret
Have a property question?   <a href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
 
 
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Is a building inspection tax deductible if I didn't buy the house? Ask Margaret

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Hi Margaret,
I'm going to buy a property with my friend. Both of us  are renting at the moment and the property we are going to buy will be our first home.
We don't want to move as soon as we buy.
<ol>
<li>Will this affect the rental assistance we are getting from Centrelink?</li>
<li>Should we pay the capital gains tax (CGT) while we sell the house in future?</li>
</ol>
Regards,
Arabu
Margaret's answer is on the next page. Please click below.
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Hi Arabu,
If both you and your friend currently qualify for Centrelink rental assistance, then you will need to be reassessed by Centrelink once you have acquired this new asset.   Rental assistance, just like any income support, is assessed according to an income and assets test and you need to see if you still qualify for the same level of, or any, rent assistance.
Centrelink will assess the net income of the property and this does take into account the net taxable income, which is what would be on your tax return.  They also assess your assets and in your case, if you already have a deposit for a property, this deposit would already be being assessed by Centrelink as an asset, and so it's likely that the additional income shouldn't affect your benefits too much, unless your deposit is really large and you own most of the property when you buy it.
As this property will be a rental first before it is your principal place of residence, then there will be CGT consequences when you sell it.  The gain will be assessed using a  formula which considers days rented and days not rented and proportions the gain accordingly.  It will be critical for you to keep all records including receipts of anything you spend on the property, for as long as you own the property,  so that your tax liability can be correctly assessed when you dispose of the property.
On another note, if your friend is not a spousal partner, I'd like you to be aware of the consequences which can arise when you enter property ownership with someone who you are not sharing financial circumstances with.  They include:
<ol>
<li>A lender will consider any loan repayments on a loan you are a party to as being all of your responsibility, in case your friend doesn't uphold their side of the arrangement.  This means if you apply for future borrowing to buy a property without your friend, the entire loan repayment is assessed as being owned by you and may affect the amount you can borrow. </li>
<li>If you and your friend end up with different ideas about when you wish to exit the property, there could be an issue. </li>
<li>If you and your fiend end up falling out, this is also a problem as it's hard to own a property with someone you no longer associate with. </li>
<li>If the property gains in value, you can only leverage against this gain for a further property with your friend, since they own the equity too.</li>
</ol>
It's always a better plan to invest alone than to invest with friends or relatives.
Kind regards,
Margaret
Have a property question?  <a href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
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How will buying with my friend affect my benefits? Ask Margaret

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Hi Margaret,
I am going to sell my family home and move into a new home.
But it's taking time to sell, so I wanted to take my first home off the market for a while and move into the new one, then sell at a later date. 
I won’t rent out my former home, so will I avoid CGT? 
Kind regards,
Andrea
Hi Andrea,
Capital gains tax (CGT) is one of the most misunderstood concepts in property investing, but in reality it’s quite simple.
CGT is not about whether you rent out a property or not, and many assets attract CGT even though they don’t produce income for you. When it comes to CGT on your family home, it is all about which property you intend to claim as your principal place of residence (PPOR), and you can only claim one. Any other property you own, regardless of if it is rented out or not, will accrue CGT. The value that becomes the cost base upon which the gain is calculated will depend on a host of things, from when it was purchased through to when it ceased being your principal place of residence exemption.
You can move out of your  PPOR for up to six years and still maintain an exemption on it, as long as you don’t have another property for which you claim that exemption. This allows home owners to be relocated for work, or move out and rent for a time, without CGT accruing. Remember that if you buy another property in that time, you must nominate one as your PPOR, and your intention for the nominated property is that it must be genuinely a home you have intention to reside in.
You are allowed a six-month overlap, however, so that you have time to move and set up a new principal place of residence.  Be very careful on this one, though – if you go over the six months  by even one day you may end up paying some CGT on the family home, calculated in most cases on the change in value form the day you moved out until the day it sells. This might be OK if the value has not increased since you moved out, but if there has been any type of value increase since you left it, you could be up for some tax.
Try not to be too alarmed – remember  CGT is incurred on only half the gain (as long as it has been held as an asset over 12 months) and although it is tacked on to the top of your other income and calculated at your highest marginal rate of tax, this may be a fairly small amount after all.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
This article was first published on Property Observer in February 2013.
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Can I avoid CGT when I sell my home? Ask Margaret

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Hi Margaret,  
I am an international student who has just graduated and I am planning to move back for good.
My parents are considering selling their apartment in Bondi Junction.
In your opinion, do you think we should sell?
Or would you recommend that instead of selling we keep the apartment and rent it out instead?  
Thank you for any information and advice you may be able to provide, it is very much appreciated.  
Kind regards,
Irene
Margaret's answer on the next page. Please click below. 
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Hi Irene,
The decision about whether to keep a former owner occupied property, or instead rent it out, involves a lot more considerations than just whether the time is right or if it will make a good investment, although these two matters are definitely part of the analysis.  
It’s hard to know exactly where to start and so the following information is not necessarily in order of how the considerations need to be made, but all of them must be considered:  
<ul>
<li>
A principal place of residence is capital gains tax free as long as it’s sold within the allowable period.  Your parents can move out of the apartment and keep it CGT free up to six years, as long as they do not have another property on which they claim the principal place of residence exemption.  If they do move out and buy another property, they can have a strict six month period of overlap where they can have two exemptions, but if this is missed by even one day (that is, the property is not sold) then they are liable for CGT on one of the properties right back to when they first moved out.
</li>
<li>This is important because if instead they sell and take the tax free gain, they can use this to buy another owner occupied property with low or no debt.  If they wish, they can borrow against the equity in that new owner occupied property and invest elsewhere, with a fully tax deductible debt.</li>
<li>
If they keep the Bondi apartment and rent it out, only the property's current debt can be claimed as a tax deduction.  Even if they use that property as security for further funds to buy another home of their own, that debt is not a deductible one as it is the purpose for the loan, not what secures it, which determines tax deductibility.  In some cases people doing this end up a little upside down – they have a large debt on a house they live in (with no deductions allowed) and a small one on an investment.
</li>
<li>
People often keep a former home because they think it will make a ‘good investment’, and this is based on emotion rather than any researched facts to support whether or not it is a good place to invest.
</li>
</ul>
The first thing to consider is whether or not this area has the capacity to deliver as good as, or better, growth and yield than any other area. 
Keeping it may prevent your parents from investing in an area with a better capacity to grow in the coming few years and a higher rental yield, giving an all- round better performance. 
Usually, areas which have already become ‘blue chip’ have their best period of performance behind them, and unless there is some major development or infrastructure project on the way, such an area is more than likely to grow with only a lacklustre result. 
For sound investing and a return better than bank savings interest rates, you need to find an area on the cusp of its best period of growth (as in a pre- blue chip area) and you are not likely to find that in the upmarket, favoured suburbs of our capital cities. 
Great investing opportunities are usually in formerly remote suburbs or newer suburbs catering to families – the kind with major infrastructure projects ahead of them and burgeoning populations which drive year- in, year- out growth in value and rental yield.  
It’s rarely the right thing to keep a former home and make it into an investment. 
Your parents need some good advice from a qualified property investment adviser, one whose best interests are not served by selling them a property, to ascertain their bottom line financial position in relation to any debt on this property and any they may move to and to establish just what will be the most appropriate strategy for this time in their lives.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
This article was first published on Property Observer in July 2013.
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Should I turn my home into an investment property? Ask Margaret

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Hi Margaret,
Myself and a friend have decided to bid at auction for a block of land in <a href="/news">Westmead</a>, NSW.
We have verbal approval from council’s town planner to build a duplex on this land.
I appreciate it if you could help me with following:
<ul>
<li>Would the council usually be able to provide written confirmation regarding approval to build the duplex? 
</li>
<li>As this is just a block of land, what are the charges or taxes we have to pay before building. 
</li>
<li>Is there any step by step guide to go through all the formalities we need to complete post signing the contract of the land? 
</li>
<li>Do we need to make sure of anything before we go and win the auction?</li>
</ul>
Regards,
Hitesh
Margaret's answer is on the next page. Please click below.
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Hi Hitesh,
It’s always a risk when buying a property which you think might be able to be subdivided. 
Many years ago, I purchased a block in Queensland and prior to the purchase I had a lengthy discussion with council in which I was advised that I could potentially build a triplex. Upon settlement, I commenced the approval process to be told that only a duplex would be possible. Just before I got the application finalised, the councils merged and my application for a duplex was rejected. Due to where this property is, building a single dwelling is a loss making exercise and I now have a technically useless, non-income producing block of land!
I tell this story to indicate the potential problems you could have.  The council will not provide written confirmation to you prior to bidding, as everything can change in the meantime and they will not want to be locked in.  They will simply refer you to the current town plan and the existing development application rules and suggest you use them as a guideline.
There are no taxes to pay to build, but the ‘charges’ can be endless.  Subdivision approval is complex and requires the services of town planners, architects, surveyors, geo tech experts, and engineers, to name a few.  A simple duplex subdivision can run to tens of thousands just for the approval to build and if driveways and retaining are also involved, expect to reach costs of over $100,000!
Your local council should have a guideline for subdivision approval on their website (or a document they can send you) but good luck with that! 
In my experience it is complex in the extreme, and it can be laborious translating what is actually required.  This is why it is a good idea to retain the services of a town planner, preferably one who may have previously worked for the council in question.
I’d initially download that guideline and contact a town planner prior to auction to get an idea of the costs of the subdivision.  This person will be able to quote on getting the ‘approval to subdivide’ (which is step one) but be aware that, after this step you have to carry out all works and steps outlined in this approval before your final deposited plan number will be allocated.
Regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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What hurdles will I need to jump to subdivide land? Ask Margaret

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

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

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