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Developers have been competing for development sites to build apartments across Toowoomba for the last twelve months with construction activity now continuing at a rapid pace, according to Herron Todd White.
Herron Todd White's September Month in Review said in the western suburbs a primary concern is for the looming oversupply as vacancy rates for new units in the western suburbs are increasing.
"While at present new units are achieving a premium on sale, second hand stock has seen a reduction in both sale price and volume of transactions," the report noted.
"Asking prices for newly constructed units appear to be in the early stages of decline with some sales and rentals being incentivised. Despite this, across all property types the vacancy rate for Toowoomba has stabilised at 3%. 
"The market for new units located in established, in-fill areas across the eastern and southern areas of Toowoomba are more sought after as this product is also appealing to owner occupiers, which broadens the buyer profile."
According to Herron Todd White the median unit price as at June 2015 for units in the 4350 postcode was $300,000 - a decrease of approximately 1.5% since the previous quarter.
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Toowoomba unit construction at rapid pace: Herron Todd White

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New figures from the Australian Bureau of Statistics show the weighted average price index for residential properties across the eight capital cities rose 4.7% in the June quarter.
According to the Residential Property Price Indexes, the index rose 9.8% through the year to the June quarter.
"Capital city residential property price indexes rose in Sydney (8.9%), Melbourne (4.2%), Brisbane (0.9%), Adelaide (0.5%) and Canberra (0.8%), was flat in Hobart (0.0%) and fell in Perth (-0.9%) and Darwin (-0.8%)," it noted.
"Annually, residential property prices rose in Sydney (+18.9%), Melbourne (+7.8%), Brisbane (+2.9%), Canberra (+2.8%), Adelaide (+2.7%) and Hobart (+1.5%) and fell in Darwin (-1.8%) and Perth (-1.2%).
"The total value of residential dwellings in Australia was $5,761,607.2m at the end of June quarter 2015, rising $271,939.1m over the quarter. The mean price of residential dwellings rose $26,200 to $604,700 and the number of residential dwellings rose by 38,400 to 9,528,300 in the June quarter 2015."
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Sydney leads residential price index for June quarter: ABS

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National buyer's advocacy group Cohen Handler has leased the penthouse office at 52 Park Street Melbourne at $582sqm net - well above what is considered 'A Grade' CBD rents of between $423 to $548sqm net.
The 80sqm space has luxury fittings and private and shared balconies with views to Port Phillip Bay and Albert Park. 
Savills Australia’s Tim Sugar said the presumed record rent has underscored what has been an emerging trend to special or boutique office space on the CBD fringe. 
"There is definitely an emergence of home based businesses that are looking for something special/boutique that is closer to the action for their clientele but also acts as an office away from home or their current office," he said.
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Cohen Handler move into Melbourne office penthouse

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Gold Coast dwelling prices have been tipped to perform next year with new data from SQM Research predicting a rise of between 7% to 11% due to a number of factors including a strong tourism dollar, low rental vacancy rates and high rental yields.
Managing director of SQM Research, Louis Christopher, said they lifted their investment rating for the Gold Coast from 3.0 stars issued in 2011 to 3.75 stars.
“Back in 2010 the Gold Coast housing market suffered a perfect storm of events that created a major dwelling price crash," he said.
"A lot of those events have now dissipated and right now, there are many favourable economic factors which are helping to improve the region.
"So we believe Gold Coast property investors are likely to enjoy good returns, both in rents and capital growth for up to the next three years.”
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Gold Coast tipped to perform in 2016: SQM Research

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Two bedroom units on flat land close to the town of Lennox head is currently in high demand, with demand for attached housing in Byron Bay, Mullumbimby, Lennox Head and Ocean Shores and nearby areas up, according to Herron Todd White.
Herron Todd White's September Month in Review noted demand in Lennox Head forced developers re-think design options with unit stock across the region limited and in high demand.
The review said interstate buyers from Sydney and Melbourne who are used to smaller land areas still find duplex units and townhouses with yard space attractive and not overly different to the overall land areas they were used to.
"Off the plan purchases are still at a minimum and agents are reporting they are hard to convert into sales until the finished product is near fully complete," it said.
"Ocean Shores and surrounds is considered a good opportunity. The buy-in prices are relatively cheap when compared with the larger resort townships of Byron Bay and Lennox Head."
 
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Attached housing demand in Byron Bay, Lennox Head and surrounds up: Herron Todd White

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A large number of residential apartments along Canberra's Flemington Road corridor through suburbs Franklin and Harrison could be delayed until pre-commitment sales increase and demand strengthens, according to Herron Todd White.
Herron Todd White's September Month in Review found a large number of medium density apartment developments either being built or nearing completion in Belconnen, Central Canberra, Gungahlin and Woden with high quality inclusions and in some cases smaller floor plates.
"The entry level price point for a modern 1-bedroom unit in the Gungahlin area is around $260,000, while high value, centrally located penthouse style units can achieve $2 million plus price levels," it said.
"The average number of multi unit sales in Canberra equates to 3,000 to 3,500 on average per annum. Of this amount approximately 50% are new units. Accordingly, some 1,750 new multi unit dwellings are required to meet annual demand in this sector of the market."
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Unit construction tied to pre-commitment sales in Canberra suburbs: Herron Todd White

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The top sale of the week was a parkside home in Kew on approx 1,618sqm of land with five bedrooms and four bathrooms, according to CoreLogic RP Data.
This architect-designed three-level residence, with 38.1m park frontage to Kellett Reserve, at <a href="https://www.realestate.com.au/property-house-vic-kew-120539825" target="_blank">15 Park Lane, Kew</a> (Above) sold for $6,910,000 through Kay &amp; Burton Hawthorn. 
Top ten sales over the past week were:
15 Park Lane, Kew, Vic, 5 bed, 4 bath, 6 car house $6,910,000 Kay &amp; Burton Hawthorn 
33 Wybalena Road, Hunters Hill, NSW 8 bed, 7 bath, 5 car house $6,850,000 House 18 Sydney 
10 Fortescue Street, Chiswick, NSW 5 bed, 4 bath, 2 car house $4,850,000 BresicWhitney Hunters Hill 
96a Victoria Avenue, Dalkeith, WA 3 bed, 2 bath, 2 car house $4,500,000 William Porteous Properties Dalkeith 
17 Victoria Square, Ashfield, NSW 4 bed, 2 bath, 1 car house $4,400,000 Harris Tripp Summer Hill 
3/67 Undercliff Road, Freshwater, NSW 4 bed, 2 bath, 2 car unit $4,250,000 Clarke &amp; Humel Property Manly 
1 Lugar Street, Bronte, NSW 4 bed, 2 bath, 3 car house $3,950,000 Phillips Pantzer Donnelley Real Estate 
33 Service Street, Hampton, Vic 5 bed, 3 bath, 4 car house $3,900,000 Marshall White Brighton 
1 Carrington Avenue, Mosman, NSW 5 bed, 3 bath, 2 car house $3,850,000 O’Gorman &amp; Partners Mosman 
6 Moore Street, Hawthorn, Vic 3 bed, 2 bath, 2 car house $3,750,000 Jellis Craig Hawthorn
 
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Kew trophy sale tops CoreLogic RP Data top 10 list

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Brisbane's preliminary auction clearance rate is at 52.8% from a total of 108 total reported auction results for the week ending 20 September, according to CoreLogic RP Data's Property Market Indicator Summary.
Some 29 auction results have been reported for the Gold Coast region so far, with a preliminary clearance rate of 41.4%.
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Brisbane's preliminary auction clearance rate at 52.8%: CoreLogic RP Data

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Melbourne has a preliminary clearance rate for the week ending 20 September at 73.3%, down 1% from last week, according to CoreLogic RP Data's latest Property Market Indicator Summary.
According to CoreLogic RP Data 1,091 residential properties went to auction last week down from last week and the same period one year ago.
Melbourne’s Outer East had a preliminary clearance rate of 78.4%, with 74 reported auctions were sold. 
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Melbourne preliminary clearance rate at 73.3%: CoreLogic RP Data

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Industrial areas in South East Melbourne's Mount Waverley and Oakleigh are in high demand currently due to the conversion of industrial properties into residential  developments.
Only four of the 28 units remain not he market at Spectrum Business Park,  <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-mount+waverley-501259367" target="_blank">21-35 Ricketts Road Mount Waverley</a>, and 19 of the 25 office warehouses at Industria, <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-oakleigh-500996351" target="_blank">20 Edward Street, Oakleigh</a> are already sold. 
Luke Pitcher, manager of project marketing for Crabtrees Real Estates said the most in demand properties are those in the price points from $500,000 to $1.3 million.
"The ratio of investors to owner occupiers in these recent sales was approximately 60% owner occupiers to 40% investors," he said.
“Investors are successfully leasing the units and gaining net returns of approximately 6-7%." 
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South East Melbourne's Mount Waverley, Oakleigh in demand

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

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MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

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.

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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.

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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.

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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.

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Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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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.

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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.

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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.

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“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.

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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.

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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.

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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.

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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>.

Michael Crawford

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