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Following the demand of the first release of apartments and townhomes in the harbourfront estate Spring Cove, the second release of 17 luxury homes has been fast tracked.
Located in Manly, the 2.7-hectare estate by Denwold Group and Oakstand Property Group released the first stage of 16 two- and three-bedroom apartments and five two-storey townhomes off the plan in September.
Purchasers from the local Sydney market snapped up 19 properties, with only two town homes remaining.
Apartments were priced from $1.85 million to $3.5 million and the town homes were priced from $2.95 million to $3.2 million.
“We are thrilled with the strong interest from high end local Sydney buyers and subsequent sales results, which are testament to Spring Cove’s extraordinary locale and seamless integration with the surrounding area,” says David Cullen managing director of Oakstand Property Group
The second stage comprises of 17 luxury homes priced from $4.5 million to $6 million.
Internal areas range between 271 square metres to 391 square metres and feature under-floor heating, stone floors and miele appliances.
The <a target="_blank" href="https://springcove.com.au/overview.php">Spring Cove estate</a> is located in one of the last remaining parcels of untouched harbourfront land in Sydney.
“Manly is an iconic Sydney location with a community of family oriented beach lovers and surfers,” says Cullen.
“Locals can embrace the peace and serenity, enjoy the varied lifestyle amenities of vibrant Manly, and easily commute to the CBD on ferry - all of which are strong attributes that are driving buyers to purchase in the area.
“Spring Cove is a once in a lifetime opportunity to live in a unique and luxurious coastal community overlooking the world-renowned and highly-coveted Sydney Harbour,“ says Cullen.
The team behind Spring Cove has taken a “minimum intervention” approach to ensure the estate integrates within the ecosystem without upsetting its balance.
Spring Cove Estate was originally part of the Catholic Archbishop’s residence, which was built in 1886.
The median house price in <a target="_blank" href="/news">Manly</a> is $1.72 million, a 16.2% change in the past five years, according to RP Data.
The median apartment price in Manly is $760,000, a 17.8% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
 
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For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
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ntrotman-Et3xWpamVh

Manly estate fast tracks 17 luxury homes following buyer demand

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Sometimes it’s nice to escape reality for a while and have a peek into the lives of others, particularly those who can afford a four level penthouse. Take a break from whatever you’re doing for a moment, pretend your bank account has been injected with a lump sum and lets go penthouse shopping.
First on the list is a six-bedroom, six-bathroom, four-level penthouse on Main Beach in Queensland (pictured below). We should just make one thing clear, this is not an apartment, it’s a house high up in the sky on the 30th level, and that’s evident by the three kitchens available on various levels. In case one kitchen wasn’t enough, you get three to choose from!
While you’re waiting for your Sunday roast to cook, you could fit in a quick session in your own gymnasium and then have a dip in your own private covered pool. Your dinner guests will arrive in your private elevator and be welcomed with floor to ceiling glass windows and six-metre high ceilings in the formal living area. If this sounds like your dream home, it’s <a href="https://www.realestate.com.au/property-apartment-qld-main+beach-114318775" target="_blank">listed</a> through Faye Tyson and Alex Caraco of Coldwell Banker GC Property Group for around $9 million.
{yoogallery src=[images/stories/2013/11/20/main]}
 
We’re now down in North Sydney in the Skye by Crown development on the Pacific Highway (pictured below). There are a few of these bad boy apartments up for grabs so you’ll have to share your title of owning a Skye by Crown penthouse with others. They comprise of three bedrooms, two bathrooms and boast European appliances and stone bench tops in the kitchens. One of <a href="https://www.realestate.com.au/property-apartment-nsw-north+sydney-112454363" target="_blank">these </a>could be yours for $2,755,000.
{yoogallery src=[images/stories/2013/11/20/north]}
 
The Watergate penthouse in Docklands (pictured below) could be yours for $3.95 million. This too, is steering away from the apartment title with five bedrooms and four bathrooms over two floors. Who needs a front yard when you have an outdoor terrace that wraps around the whole apartment? If it gets a bit cold up in the sky, you can always retreat back inside and gaze out your floor to ceiling windows that encapsulates the same view as outdoors. This one’s a bit jazzy, it not only features Arabescato marble in the ensuites, it also boasts French limestone from Paris, oui! Anton Wongtrakun of Dingle Partners has the <a href="https://www.realestate.com.au/property-apartment-vic-docklands-113721615" target="_blank">listing</a>.
{yoogallery src=[images/stories/2013/11/20/dock]}
 
This Port Melbourne penthouse (pictured below) takes the cake for house in the sky with six bedrooms and seven bathrooms. It’s advertised as being a “window on the world” with centre stage views across the beach, Port Phillip Bay and the city. This penthouse has used extensive use of glass and metal and it set over three levels. If you enjoy holding parties, this one may be for you – the rooftop retreat has been fully landscaped and outfitted to accommodate private gatherings or a hundred VIPs, yes – very important persons. It’s <a href="https://www.realestate.com.au/property-apartment-vic-port+melbourne-113047575" target="_blank">listed</a> with Ross Savas and Alex Schiavo of Kay and Burton Bayside.
{yoogallery src=[images/stories/2013/11/20/port]}
 
Last but not least, if you don’t mind your ears popping on the way home every night as you fly up the elevator to the 84th floor, this Southbank one could be for you. Located in the Eureka Tower and occupying the entire 84th floor, this 660-square-metre home (pictured below) features four bedrooms and four bathrooms. Once the elevator doors open, you’ll be graced with a private marble lobby and 360 degree views of the beautiful city, Melbourne. Your four-legged friend will be happy here, although there isn’t a back yard, the 24-hour concierge offers dog walking. After winding down at the fully fitted onyx bar, you have access to the resident’s only indoor pool, cinema and sun terrace. Greg Herman and Bonnie Wang of Melbourne Sotheby’s International Realty Toorak have the <a href="https://www.realestate.com.au/property-apartment-vic-southbank-114880895" target="_blank">listing</a>, with a price guide around $19 million.
{yoogallery src=[images/stories/2013/11/20/south]}
 
 
<img alt="poll-reswults-nov-21" height="286" width="342" src="/images/stories/2013/11/22/poll-reswults-nov-21.gif"> 
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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A peek inside some of the nation's most luxurious penthouses

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Scope Property Group has entered its investors into the Fremantle commercial property market with the purchase of Craig Mostyn House for $6.5 million.
Located at 6 Short Street, the property features dual street frontages and will undergo a $1 million cosmetic uplift and refurbishment.
<img alt="1" height="353" width="470" src="/images/stories/2013/11/20/1.jpg">
“We are very selective about the properties we purchase,” says Scope Property Group director Robert Englehard.
“We only syndicate properties where we can substantially de-risk the asset whilst also providing our investors with strong income returns coupled with future capital grow, and we believe that Short Street exhibits both of these.
“The anchor tenant Craig Mostyn &amp; Co Pty Ltd secures income for our investors for the next eight years and we remain confident that the remaining vacant space will be taken up by the market in coming months that will further enhance this income.
“In this instance, we are going to spend around $1 million dollars on cosmetic refurbishment to enhance the appeal of the building and attract new tenants,” says Englehard.
<img alt="3" height="353" width="470" src="/images/stories/2013/11/20/3.jpg">
Englehard says Scope’s investor base continues to grow, with the syndicate being substantially oversubscribed in just two and a half days.
The Craig Mostyn House has a combined land holding of 2,308 square metres across four titles.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Scope Property Group adds Fremantle to its syndicate

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There is still uncertainty about the future of residential construction but the vibe is improving, with the recovery in new dwelling commencements driven by two states, New South Wales and Western Australia, according to the Housing Industry Association.
New dwelling commencements increased by 11% in 2012/2013m with dwelling commencements increasing in New South Wales and Western Australia by 31%, accumulating for most of the growth.
HIA says the slight increase in dwelling commencements follows two consecutive years of decline.
There are a range of variables affecting new home building and renovation, including significant increase in taxation and regulatory burden on new home building over the last 15 years, tight credit conditions and the largest household deleveraging process Australian households have undertaken in many decades.
Dwelling commencements in Western Australia reached 24,052 in the last financial year. Excluding 2009/2010, HIA says this is the highest level of commencements since 2006/2007.
New South Wales dwelling commencements grew by 29% in the last financial year to 39,715 – the highest level reached since 2003/2004.
HIA says building approval figures for the September 2013 quarter signal further upward momentum in dwelling commencements for both Western Australia and New South Wales.
During the September quarter, Western Australia increased by 7.7% and New South Wales increased by 25.2%.
However, HIA says dwelling commencements look set to be largely flat in the short term with little over 160,000, with Victoria continuing to decline, but will slowly recover to around 170,000 by 2016/2017.
Victoria dwelling commencements are forecast to decline by 17.5% to 41,630 in 2013/2014, driven primarily by a 33.3% fall in other dwelling commencements.
Queensland and South Australia are forecast to gather momentum and drive the modest increase in dwelling commencements in 2014/2015.
HIA says meeting the future housing requirements of Australia’s population will require a minimum 180,000 new dwelling commencements per annum over the coming decades.
 
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Residential construction vibe improving: HIA

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One of the largest residential development opportunities in the metropolitan area in more than two years is on the market for $10 million plus.
The 13,330-square-metre Bundoora site at 1091 Plenty Road holds a permit for 361 apartments across six towers – ranging in height from three to eight levels.
The site also offers more than 1,000 square metres of commercial and retail space.
“Located within one of the fastest growth corridors in Australia and positioned between La Trobe and RMIT universities, the site is set to become the cornerstone of Bundoora, playing a pivotal role in the surrounding area’s future development,” says Jamus Campbell of CBRE.
“With over 180 degrees of frontage to Bundoora Park, the residential component of this development will benefit from a luscious leafy outlook, whilst still being in the heart of metropolitan Melbourne,” says Campbell.
Scott Orchard of CBRE says by releasing the residential aspect of the project in stages, the development can be paced according to sales demand.
The site has been reported about <a target="_blank" href="https://blogs.crikey.com.au/theurbanist/2012/05/31/do-existing-residents-see-the-benefits-of-urban-renewal/">in the media</a> numerous times, with some 600 Bundoora residents opposing the development proposal.
Opposing parties argued the development is out of character with the low-density suburban nature of the area and will impose too much additional traffic on Plenty Road.
The first proposal for the site - designed by Cornetta Partners Architects - was unanimously rejected by the local council.
A revised plan was put to Darebin City Council, this time designed by Peddle Thorp Architects and features mid-rise towers.
The site is marketed as an expression of interest campaign closing December 4 through Jamus Campbell, Scott Orchard and Mark Wizel of CBRE.
 
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Controversial Plenty Road, Bundoora development site listed

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The first major residential tower to be built in Liverpool will be known as The Point, a $49 million development
Located on Gillespie Street, The Point will feature 120 apartments over 12 floors and a supermarket on the ground floor.
The Point has been architecturally designed by DWA and features interiors by Quattro.
Sam Elbanna project manager and head of CPM Realty says the team is bringing inner city glamour to Liverpool.
“People are looking for the luxury style with a budget price.
“We are working on The Point because we want to be at the forefront of innovation and be at the forefront of the change I know is going to happen,” says Elbanna.
The Point features one-, two- and three-bedroom apartments with prices from $256,000 to $375,000 and size ranges from 55 square metres to 145 square metres.
The development is expected to attract a solid mix of seasoned investors, mum and dad investors, as well as first time buyers.
The median apartment price in <a target="_blank" href="/news">Liverpool</a> is $278,500, a 37.5% change in the past five years, according to RP Data.
The median apartment rent is $325, reflecting a rental yield of 6.1%.
The Point will officially launch to the public on November 30.
Construction is scheduled to commence in February 2014 and has an expected completion date of mid-2015.
ntrotman@propertyobserver.com.au
 
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 For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
 
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Liverpool to welcome first major residential tower The Point

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Cash was splashed in Sydney's prestige suburb Bellevue Hill over the weekend, with two properties taking out this week's most expensive sales, according to RP Data.
A five-bedroom Hampton-style home known as Willowbrook in Bellevue Hill is this week’s most expensive sale, selling prior to auction for $12 million.
Located on Kulgoa Road, the circa 1930 classic Georgian home (pictured below) last traded in 2007 for $5.75 million and underwent a transformation in 2009.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/news/willowbank-bellevue-hill-weekend-trophy-home-sale-will-assist-flagging-median/2013111766403">reported yesterday</a> that the Kulgoa Road vendor was Mark Greig, son of the late cricket commentator Tony Greig, and his wife, Angela Roche.
{yoogallery src=[images/stories/2013/11/18/bell]}
Willowbrook was reinvented by architects Lawton Hurley and features interiors by Lynda Kerry and landscaping by William Dangar.
Situated on 858 square metres, Willowbrook boasts double height ceilings, travertine, glass and oak throughout and a mosaic pool accompanied by a pool house with a travertine ensuite.
The home also boasts balconies, decking, terraces, parterre garden, eight bathrooms and a home theatre.
Willowbrook was listed for $9 million plus through James McCowan and Kathleen Manns of Sydney <a target="_blank" href="https://www.sothebysrealty.com/eng/sales/detail/180-l-2507-21308567/2-kulgoa-road-bellevue-hill-bellevue-hill-sw">Sotheby’s International Realty</a>.
Meanwhile, a four-bedroom 1970’s home on Victoria Road sold under the hammer for $4.5 million.
The newly renovated home (pictured below) features high ceilings, Italian limestone-look floors, two wine cellars and three bathrooms.
{yoogallery src=[images/stories/2013/11/19/bell]}
Situated on 677 square metres, the property last traded in September 2001 for $2,615,000 and was listed for rent in 2009 for $1,800 per week.
Former Olympic spin doctor Glen-Marie Frost tenanted the home prior to it selling in 2001.
Catherine Dixon and Louise Snowden of <a href="https://www.dijones.com.au/1118317/" target="_blank">Di Jones Real Estate Woollahra</a> held the listing.
The median house price in <a target="_blank" href="/news">Bellevue Hill</a> is $3.15 million, a 6% decline in the past five years, according to RP Data.
{module Which of these two Bellevue Hill sales is your favourite?}
 
Most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-units/2_kulgoa_road_bellevue_hill_nsw_2023/1369552">2 Kulgoa Road, Bellevue Hill, NSW, 2023,</a> five-bedroom house, sold prior to auction on November 16 by Sydney Sotheby's International Realty for $12 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/125a_victoria_road_bellevue_hill_nsw_2023/1370884">125a Victoria Road, Bellevue Hill, NSW, 2023,</a> four-bedroom house, sold on November 12 by Di Jones Real Estate Woollahra for $4.5 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/50_fellows_street_kew_vic_3101/11351677">50 Fellows Street, Kew, VIC, 3101,</a> four-bedroom house, sold at auction on November 16 by Jellis Craig Hawthorn for $4.1 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22_wallis_avenue_strathfield_nsw_2135/6496671">22 Wallis Avenue, Strathfield, NSW, 2135,</a> five-bedroom house, sold at auction on November 16 by Georges Ellis &amp; Co for $3.276 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_monash_avenue_balwyn_vic_3103/9564087">12 Monash Avenue, Balwyn, VIC, 3103,</a> five-bedroom house, sold prior to auction on November 16 by RT Edgar Toorak for $3.26 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/46_macfarlan_street_south_yarra_vic_3141/13139421">46 Macfarlan Street, South Yarra, VIC, 3141,</a> three-bedroom house, sold at auction on November 16 by Marshall White Armadale for $3.2 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/48_torrington_road_maroubra_nsw_2035/4051729">48 Torrington Road, Maroubra, NSW, 2035,</a> five-bedroom house, sold at auction on November 16 by N G Farah Kingsford for $3.115 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_neeworra_road_northbridge_nsw_2063/5070715">7 Neeworra Road, Northbridge, NSW, 2063,</a> four-bedroom house, sold prior to auction on November 16 by Richardson &amp; Wrench Northbridge for $3.06 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/608/63_hall_street_bondi_beach_nsw_2026/16439805">608/63 Hall Street, Bondi Beach, NSW, 2026,</a> three-bedroom unit, sold at auction on November 14 by Raine &amp; Horne Double Bay for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/22_mangarra_road_canterbury_vic_3126/10256848">22 Mangarra Road, Canterbury, VIC, 3126,</a> five-bedroom house, sold at auction on November 16 by Jellis Craig Hawthorn for $2.83 million
ntrotman@propertyobserver.com.au
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Over $16 million splashed as ritzy Bellevue Hill takes this weekend's most expensive sales quinella: RP Data

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Motus Property’s Regatta Apartments in the Rivervale urban renewal project The Springs is proving to be popular with some 40% of apartments snapped up.
The boutique development of only 22 apartments comprises of a range of one-, two- and three-bedroom apartments across five levels.
Remaining two-bedroom apartments are priced from $540,000 to $580,000 and range in size from 73 square metres to 86 square metres internally.
“Regatta will really focus on lifestyle, with large internal living areas, a special area for storing canoes and kayaks and also a bicycle repair and maintenance space,” says Motus director Peter Jodrell.
“A glass faced lift will let residents always feel connected to their surroundings.
“We have also designed it to the adaptable housing guidelines with very few steps, wide doors and large rooms so that as residents age or if they become immobilized, the spaces can still accommodate them,” says Jodrell.
Apartments will feature Travertine tiling in the bathroom, Miele kitchen appliances and high ceilings.
Regatta Apartments are located within Landcorp’s The Springs, a large tract of riverfront land at the junction of the Great Eastern Highway and the Graham Farmer Freeway.
The Springs will provide a range of medium to high density residential developments and a mix of commercial sites and tenancies.
“The development is close to parks, the river, public transport and a wide range of shopping and lifestyle options, including the Crown complex as well as the new planned Perth Stadium,” says Knight Frank selling agent Neha Shah.
“Just six kilometres away from the Perth CBD, The Springs will have plenty of public open spaces, created for office workers and residents and it will all be linked to the city by cycle and walking paths,” says Shah.
Regatta Apartments has a scheduled completion date of end of 2014, early 2015.
The median apartment price in <a target="_blank" href="/news">Rivervale</a> is $440,000, a 35.4% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
 
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For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown" rel="nofollow">Investor Showcase</a>.
Images are artist impressions.
 
 
 
 
 
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Boutique Regatta Apartments secures 40% in sales

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According to data released by the ABS earlier this week, the amount of loans financed to first home buyers in September recorded a new low at only 12.48%.
This week’s exclusive piece is putting the spotlight on this data and whether or not it’s a true reflection of what’s going on in the market.
Many property forums are arguing that first home buyers are no longer ticking the first home buyers box, and therefore skewing the statistics.
Todd Hunter of wHeregroup says he would like to know who came up with this data and where it came from on his latest <a target="_blank" href="https://www.wheregroup.com.au/blog/are-they-are-they-really/">blogpost.</a>
Professionals active in the property sphere were asked the following question.
Do you agree with the first home buyer statistics? Why or why not?
 
 
Paul Biller – Principal of <a href="https://www.1stcity.com.au/" target="_blank">1st City Hasemer &amp; Caldwell-Eyles<img src="/images/stories/2013/11/15/biller-profile.jpg" alt="biller-profile" style="float: right;" height="200" width="150"></a>
FHB LEVELS PLUNGED SINCE THE GOVERNMENT REPLACED FHB GRANTS WITH INCENTIVES
Yes, I agree with these statistics. There is no benefit to a first home buyer no longer ticking the first home buyer box.
Australia’s housing market is experiencing its strongest run in years. Investors and changeover buyers are being drawn back to the market following interest rate cuts and the positive outlook for housing. Yet despite historically low interest rates, rising prices are raising fresh concerns about housing affordability for first home buyers. Just one-in-eight borrowers were first home buyers in September - the lowest proportion in more than two decades.
First home buyer levels have plunged recently in some states by more than 10% since the government replaced first home owner grants with incentives to buy only brand new properties, however the bulk of first home buyers are still buying established dwellings because they are more affordable.
When the government announces it is putting an end to an incentive and telegraphs it, a lot of home buyers bring their plans forward. The result of the rush to get in before October 2012 means that many buyers who would have been in the market now, purchased last year instead. As a result of the new policies, the Australian Bureau of Statistics shows that first home buyers are becoming scarcer. There is too much competition with investors who are looking at the same properties and taking the opportunity to borrow with the lowest interest rates in 50 years and with a shortage of rental accommodation pushing up yields.
Other factors include stamp duty and the size of deposit required and ability to save for it. While monthly mortgages were becoming more affordable, first home buyers were struggling to put down a deposit as property prices continue to rise.
 
Jessica Darnbrough - Spokesperson for <a href="https://www.mortgagechoice.com.au/?" target="_blank">Mortgage Choice</a><img src="/images/stories/2013/11/15/jessica.darnborough-profile-2.jpg" alt="jessica.darnborough-profile-2" style="float: right;" height="200" width="150">
ABS STATISTICS COULD BE SIGNIFICANTLY LOWER THAN WHAT IS HAPPENING IN REALITY
 
The data from the Australian Bureau of Statistics is as true as it can be. The Australian Bureau of Statistics report on the data that is available to them.
That said, today, some of the states have removed the first home owners grant for established dwellings. As a result, many first home buyers who are purchasing existing properties do not have to declare that they are buying for the first time.
According to a recent survey by Mortgage Choice, 70.9% of recent first home owners said they had purchased an established dwelling. With this in mind, it is reasonable to assume that the first home owner numbers as reported by the Australian Bureau of Statistics could be significantly lower then what is happening in reality.
Next page: Kevin Lee and Ben Kingsley
 
 
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Kevin Lee - Buyers agent at <a href="https://www.smartpropertyadviser.com.au/?" target="_blank">Smart Property Adviser</a>
<img src="/images/stories/2013/11/15/kevin-lee-profiel.jpg" alt="kevin-lee-profiel" style="float: right;" height="200" width="150">
FORGET THE 12.48% - WHO, WHAT, WHERE AND WERE THE OTHER 87.52%?
It never ceases to amaze me that first home buyers regularly receive a disproportionate amount of media and government attention when compared to the actual percentage of the total property market that they account for.
Could I be so bold as to suggest that this group is a 'political football' and therefore the recipient of so much government 'spin'. But they will never, ever save the country - how can they?
Forget the 12.48% who bought their first property - who, what, where… were the other 87.52%?
That's the number one question our politicians, policy makers, bureaucrats and property professionals should be focused on. With the right assistance/incentives this second group could (and should) have a much larger impact on the Australian economy.
However all the press is devoted to the precious few home buyers who are having their first go at becoming a rate payer. Weird isn't it!
By definition, most of this 12.48% won't do much for the next six or seven years. Sure they'll struggle to make their monthly repayments, buy some furniture, have a kid or two, maybe buy a new car, and send their kids to schools in the area.
Don't try to tell me that the other 87% of purchasers don't contribute in the same way?
It matters nought whether the purchaser is an owner occupier or investor - the end result is always the same.
Whether you purchase a property to live in yourself - or for someone else to live in - there's still a household to be formed, things to buy, kids to go to school, and people who will live a life there.
Let's face it, governments devoid of any real ideas, balls or brains created incentives for a minority group to stop renting and purchase their own home. First home owner grants of $7,000, then $10,000 then $14,000 ... but wait there's more. Buy now and we'll also throw in free stamp duty - in NSW that's a potential saving of another $23,000.
So the government spends millions of dollars to entice maybe 100,000 extra people to join this minority group. Why? Because this is what financially un-educated people do.
Smart people - those people with a financial education - set goals and take the necessary action to reach those goals. They get other people to pay off their debt for them.
Little do these bureaucrats know that many savvy first time buyers were in fact buying their first investment property, all they had to do was comply with the rules and live in the property for a very short period.
If these bureaucrats had any clue, they would incentivise all people who are trading up or down by removing (or at least reducing) the two most insidious taxes ever created: stamp duty and land tax. The average Sydney couple buying a modest home or investment property for $700,000 pays just over $27,000 NSW stamp duty for the privilege.
That's equivalent to furnishing that property, a pretty special holiday or a whole mouth full of dental work. Our economy would be so much stronger if that $27,000 was spent on goods and services for the individual, instead of employing another pencil pusher.
They were supposed to eliminate those state based taxes with the introduction of the GST, but our governments are like heroin addicts - their addiction to the tax is on the same level; they will do anything to get it and just can't give it up.
 
Ben Kingsley – Chair of <a href="https://www.pipa.asn.au/%E2%80%8E" target="_blank">Property Investment Professionals of Australia</a> (PIPA)<img src="/images/stories/2013/11/15/ben-kingsley-profiel.jpg" alt="ben-kingsley-profiel" style="float: right;" height="200" width="150">
THIS DATA IS NOW OVER SIX WEEKS OLD AND THE MARKET FOR FHB IS ON THE IMPROVE
I see no beneficial reason or hidden agenda by the ABS to alter the statistical reporting of this data.  The ABS do a great job in capturing and reporting this data on a monthly basis and have done so for many years now.  This housing finance series attempts to enumerate all providers in its scope of collecting this data and in the early 2000s the collection of this data was handed over the Australian Prudential Regulatory Authority (APRA), so the coherency and consistency of the data has remained robust over this period. The claims that first home buyer borrowers are choosing not to report their status as first home buyers on their loan applications to lenders doesn't make sense to me.  First home buyers have access to grants and/or incentive scheme across each state and territory at the moment, and lenders are heavily involved in the implementation of these grant and incentive as part of the lending application process, so first home buyers are almost certainly known to lenders and reported as such in this data in my view. Within our business in Melbourne, our observations of the soft activity by first timers in the market and also the number of first home buyers we are arranging finance and providing buyers agency services for supports this September reading.  However we need to recognise this data is now over six week old and the market for first home buyers in definitely on the improve and I'd expect this number will be the bottom of this cycle for first home buyers and the remainder of the year we will see an improve and 2014 I see even further growth in first home over grant numbers active in the market.
Nest page: Todd Hunter and Andrew Wilson 
 
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Todd Hunter - Director at <a href="https://www.wheregroup.com.au/%E2%80%8E" target="_blank">wHeregroup</a><img src="/images/stories/2013/11/01/todd-hunter-profile-2.png" alt="todd-hunter-profile-2" style="float: right;" height="171" width="144">
THERE IS NO WAY TO ACTUALLY GAUGE WHO IS A FIRST HOME BUYER AND WHO IS NOT

It’s being bantered all over the press everywhere, the property market has out priced first home buyers and they have magically disappeared from the market place. They are gone and don’t look to return anytime soon. Are they?
 
I personally would like to know who came up with this data and where it came from. In New South Wales since the first home owners grant and the stamp duty concession was abolished, with the exception for new properties, there is no way to actually gauge who is a first home buyer and who is not. There are no forms to fill in, no boxes to tick on the loan application form, no sections to fill in on the land transfer. So I ask, how do they know this?
 
It sounds like some fancy media or marketing hype that someone has conjured up and now the media herds are running with it like no tomorrow. For those who have ever dealt with the wHeregroup, you would have had contact with one or both Rebecca’s. Well Rebecca - my personal assistant - has recently purchased her first unit. Now this unit was in the Sutherland Shire but was not new. Rebecca wanted to live in the Shire so rather than buy a new house and land package in the western suburbs, where there is available land, she opted to pay the stamp duty and live where she wanted to live. As the $7,000 grant is no longer available, her transaction went through undetectable as a first home purchase. In the past I have exposed inaccuracies in the stats and supposed property indexes. I wrote a <a href="https://www.wheregroup.com.au/blog/the-median-measurement-is-misaligned/" target="_blank">blog</a> on the median house price and how the figures can be easily skewiff.
 
Well it appears that this fictional statistic has also been skewiff, and it’s such an easy fix. All we need is a box ticked on the land transfer so the type of purchaser can be calculated correctly.
 
I do agree, however, that it is becoming increasingly more difficult to first home owners to get into the market; especially in the Australia’s capital cities, but come on lets not over exaggerate things, lets find solutions. It may mean that first home buyers may need to take a different tact in investing in property, whereas they may have to buy a cheaper investment property or two in large regional areas where house prices are still around the $300,000 – $350,000 mark and increase their wealth in those properties. So that when they sell they have a much larger deposit for their home. As the game changes so must your game plan. But one thing’s for sure, what we certainly don’t need is a whole bunch of negative inaccurate hype deterring our future generation from buying property.
These comments originally appeared on Todd Hunter's blog.
 
Dr Andrew Wilson - Senior Economist for Australian Property Monitors
Latest ABS data seems to indicate increased underlying barriers to home ownership <img src="/images/stories/2013/10/04/AndrewWilson-profile.jpg" alt="AndrewWilson-profile" style="float: right;" height="150" width="125">
trengthening housing markets and rising prices can be bad news for first home buyers waiting in the home ownership queue.
With prices rising faster than savings this can lengthen the queuing duration for first home buyers or alternatively necessitates revised property type and location choices.
Increased investor activity can also be a barrier for first home buyers as these groups tend to compete with each other for similar properties.
Latest ABS home loan data seems to indicate increased underlying barriers to home ownership and have fuelled the flames of first home buyer doomsaying. But a closer look at the data reveals a more positive environment, particularly on a local market-by-market basis.
The ABS reported that the proportion of first home buyers approved over September in New South Wales is the lowest on record at just 4.1 percent market share of home purchase loans. No real surprise here as significant first home buyer activity has been brought forward over the past two years as a consequence of state government changes to first home buyer incentives.
Similarly in Queensland low first home buyer activity is a consequence of demand brought forward over the past year due to changes to local incentive schemes. And Victorian first home buyer activity is also predictably waning following a recent surge in activity as the local state government followed the lead of other states and changed its incentive programs.
First home buyer activity in other state markets however remains consistently alive and well. In Western Australia the proportion of first home buyers in the market is a nation-leading 20.6 percent and clearly above the long-term average for that state. Similarly in South Australia the proportion of first home buyers at 14.7 percent remains above the long-term average for that state.
Tasmania first home buyer activity over September remains just below the long term average market share.
Expect first home buyer activity to gradually recover in New South Wales, Victoria and Queensland as underlying demand increases driven by Australia’s ever-resilient aspiration for home ownership.
 
Property Observer is looking into how ABS compiles this data and will publish a follow-up piece.
 
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Stand up and be counted: Are the FHB stats a true reflection?

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Central Square, a $100 million residential development by Toga Group is the latest addition to be announced for the West Ryde Urban Village development.
Architecturally designed by Anthony Vavavis and Associates, Central Square will feature 205 one-, two- and three-bedroom apartments across five levels.
Located on Anthony Road, residents will have access to a ground level supermarket and a landscaped central garden.
“Starting at an affordable $480,000, the development will bring to West Ryde a new level of quality living and affordability in the heart of the revitalised and thriving Village Square precinct, which is a short 150-metre walk to the railway station and bus interchange,” says Toga Group executive general manager Fabrizio Perilli.
With interiors by Marchese Partners, one-bedroom apartments range in size from 55 square metres to 83 square metres and are priced from $480,000.
Two-bedroom apartments range in size from 67 square metres to 95 square metres and start from $620,000.
Three-bedroom apartments range in size from 85 square metres to 108 square metres and start from $795,000.
“Not only does the Toga Group have an excellent track record for delivering multi-use residential projects that attract new residents, retailers and restaurateurs to key areas, its developments inspire active and social urban living, connecting places for people to live, work and play – partnering with them is a fantastic outcome for the City of Ryde community,” says City of Ryde mayor councilor Roy Maggio.
Central Square is following the "vertical village" trend, where developments are built over retail precincts as more local councils impose height restrictions, and the problem of providing affordable houses and shops increases.
Genevieve Brannigan wrote about this trend for Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/developments/six-star-vertical-village-apartments-come-to-brighton-genevieve-brannigan/2013082064213">here</a>.
The West Ryde Urban Village development includes three basic features: a West Ryde community central, new retail and residential and a village square comprising of community facilities, retail, commercial and residential facilities.
Central Square is scheduled to commence in January 2014 and has an expected completion date of mid 2015.
The development will launch to the public on November 23.
<a target="_blank" href="https://mce_host/ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Central Square $100 million "vertical village" to grace West Ryde Urban Village

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

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

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

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