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Some property commentators have taken the view that property market dynamics are worrying, but Governor Glenn Stevens says it’s a little too early to signal great concern.
At Citi’s fifth annual Australian and New Zealand Investment Conference, Stevens says some rise in housing prices is part of the normal cyclical dynamic and improves the incentive to build and a price rise reversing an earlier decline isn’t something to complain about too quickly.
“Credit growth, at between 4% and 5% per annum to households, and less than that for business, does not suggest that rising leverage is so far feeding the price rise,” says Stevens.
Stevens says to pay close attention to credit growth, which may pick up somewhat over the period ahead and borrowing is increasing quickly in some pockets - a 40% increase over the past year in finance approvals for investment participation.
“We have certainly experienced higher rates of growth of finance than that in the past, and it may be that we are seeing some catch-up from a delayed initial response to fundamentals favouring more investment in housing
“Nonetheless, as this activity continues, lenders and borrowers alike would be well advised to take due care.
“It is very important that strong lending standards remain in place, and that decisions be based on sensible assumptions about future returns.
“That's what we need if we are to experience a long and sustainable expansion in housing investment that houses our growing population at acceptable cost, and pays reasonable returns on the capital deployed.
“That's the sort of outcome we want, as part of the more balanced growth path for the economy we are seeking over the years ahead,” says Stevens.
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<img style="float: left;" alt="jc-insights-breakout" height="210" width="150" src="/images/stories/2013/10/30/jc-insights-breakout.png">PROPERTY INSIGHTS
<a title="RBA watching Sydney property investment and urges due care" href="https://www.propertyobserver.com.au/news/rba-watching-sydney-property-investment-but-no-great-concern-yet-if-due-care-is-taken/2013102865871?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor'spropertyinsights">RBA watching Sydney property investment and urges due care</a>
"And a recent RP Data chart indicates just why we are not near any level of unease. Sure there is a clear price momentum, but you never know what will emerge from left field to slow it, halt it, or send prices backwards as the rollercoast chart since 1997 shows."
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Governor Glenn Stevens says it's too early to signal great concern on property dynamics

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The Waverley area is nearly back to where it was in 2010 when the market was at its peak in terms of house prices and demand, according to Dexter Prack director Harcourts Judd White.
Harcourts Judd White experienced a busy month in September, transacting just under $20 million in sales in the area, which includes <a target="_blank" href="/news">Glen Waverley</a> and <a target="_blank" href="/news">Mount Waverley</a>.
“The market in Waverley has certainly gained momentum in the last couple of months which is evident through the strength of enquiries, open for inspection attendances and the competitiveness on auction day.
“It has been quite some time since I’ve seen properties well above reserve and with multiple bidders on the day, but it definitely is a welcome change,” says Prack.
Prack says the spring market has lived up to its expectations and days on market have also decreased dramatically, an average of 30 days, and properties are selling well above reserve.
A mortgagee sale at 35 Nottingham Street, Glen Waverley (pictured below) sold for $250,000 above its reserve price of $860,000.
{yoogallery src=[images/stories/2013/10/31/glen]}
Prack says there were five solid bidders at the auction, with the property selling from $1,111,000.
“This impressive result shows the strength of the property market, especially properties in the Glen Waverley Secondary school zone.
“Demand is as strong as ever and we cannot keep with how many buyers want to buy in the school zone,” says Prack.
Property Observer has previously <a target="_blank" href="https://www.propertyobserver.com.au/victoria/schools-draw-chinese-buyers-to-melbournes-southeast/2013040158740">reported</a> on the Waverley school zone and who’s buying.
“There is a big market for buyers of Asian descent, particularly mainland China and Hong Kong, looking at the $1.7 million to $2.2 million range in a school zone,” says Prack.
Prack says yields in the Waverley aren’t that high, but the recent demand has seen it spike slightly.
Prack says the recent demand started about three months months ago – before the busy spring selling season kicked off.
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Suburb spotlight: The Waverley area nearing its 2010 peak

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A $120 million residential tower in Southbank has been approved by Planning Minister Matthew Guy, which will house around 600 residents upon completion.
Located on City Road, the 61-storey development will stand 193 metres high and will include 431 one- and two-bedroom apartments inside an intricate bronze glass façade.
“This development will help transform a currently underutilised site in central Southbank, enhancing the streetscape with its elegant and simple design and opening up street level spaces for retail and cafe uses,” says Guy.
“Southbank’s appeal for new residents is significant, as this ‘urban village’ is within our vibrant arts precinct and has immediate access to the Melbourne CBD, employment, public transport, the Yarra River, parks and gardens and other services.
“It also helps meet anticipated high population growth in the area, while also boosting livability for residents. “Each tower in the central city takes development pressure off Melbourne’s middle suburbs,” says Guy.
Guy says each crane on Melbourne’s skyline represents real jobs for Victorians, and is a sign of a strong and growing economy.
“This is yet another demonstration of how Melbourne continues to be a prime location for investment,” says Guy.
Construction on the residential tower is likely to start early next year and has a completion date of 2017.
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Matthew Guy approves $120 million residential tower for Southbank

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Following a busy selling weekend, auctions are taking a back seat again this week as we prepare for another public holiday, with only 1,535 auctions scheduled across the capital cities, according to RP Data.
There were a revised 2,928 auctions held across the capital cities last week, up from 2,370 the previous week.
The national clearance rate was recorded at 72.5% last week, up from 70.4% the previous the week.
At the same time last year, there were 1,344 auctions and a recorded clearance rate of 53.1%.
Melbourne was bustling last week with 1,614 auctions held, up from 1,124 the previous week.
The preliminary clearance rate last week was recorded at 72.3%, up from 68.6% the previous week.
With one of the busiest holidays of the year in Melbourne – Melbourne Cup weekend – only 162 auctions are scheduled this week.
At the same time last year the clearance rate in Melbourne was recorded at 61.5% from 567 auctions.
Sydney auctions are continuing to climb with 921 auctions recorded last week, up from 913 the previous week.
At the same time last year Sydney held 519 auctions with a 55.6% clearance rate.
Sydney is scheduled to hold 1,032 auctions this week.
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Melbourne Cup weekend pulls the reins on auctions as numbers dwindle: RP Data

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It was a mix of old and new this week, with a contemporary 2009 beach house and a refurbished 1906 home sharing the title of this week’s most expensive sale, both selling for $4 million each, according to RP Data.
The four-bedroom Coogee home on Oberon Street (pictured below) sold on October 22 through Alexander Phillips and Adam David of <a href="https://www.propertyobserver.com.au/https://www.gdrealestate.com.au/recent-sales/0000160519" target="_blank">GoodyerDonnelley Real estate Woollahra</a>.
{yoogallery src=[images/stories/2013/10/29/cog]}
The three-storey home was built in 2009 and features self contained guest accommodation.
The median house price in <a href="/news">Coogee</a> is $1.565 million, a 19% change in the past five years, according to RP Data.
The three-bedroom Drummoyne home, known as Nairobi (pictured below), sold on October 26 through Tim Wieland and Lochlan Grahame of <a href="https://www.ch.com.au/selling/NSW/Inner-West/Drummoyne/House/1P8793" target="_blank">Cobden and Hayson Balmain</a>.
{yoogallery src=[images/stories/2013/10/29/drum]}
Situated on 777 square metres, the property has been refurbished and extended to maximize views across the bay and harbour islands to the Sydney Harbour Bridge.
The home features parquetry flooring, original joinery in the lounge, travertine bathrooms and an entertainer’s deck.
The median house price in <a href="/news">Drummoyne</a> is $1.2 million, a 26.3% change in the past five years, according to RP Data.
Most expensive sales:
 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/244_oberon_street_coogee_nsw_2034/1931841" target="_blank">244 Oberon Street, Coogee, NSW, 2034,</a> four-bedroom house, sold on October 22 by GoodyerDonnelley Real Estate Woollahra for $4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/10_alexandra_street_drummoyne_nsw_2047/2123269" target="_blank">10 Alexander Street, Drummoyne, NSW, 2047,</a> three-bedroom house, sold at auction on October 26 by Cobden &amp; Hayson Balmain for $4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/11_hall_street_brighton_vic_3186/10011947" target="_blank">11 Hall Street, Brighton, VIC, 3186,</a> five-bedroom house, sold at auction on October 26 by Nick Johnstone Real Estate Brighton for $3.82 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/12_queens_avenue_mcmahons_point_nsw_2060/4169465" target="_blank">12 Queens Avenue, McMahons Point, NSW, 2060,</a> four-bedroom house, sold at auction on October 26 by McGrath Estate Agents for $3.64 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/93_llewellyn_street_rhodes_nsw_2138/5836644" target="_blank">93 Llewellyn Street, Rhodes, NSW, 2138,</a> five-bedroom house, sold at auction on October 26 by Raine &amp; Horne Concord for $3.49 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/32_pymble_avenue_pymble_nsw_2073/5644921" target="_blank">32 Pymble Avenue, Pymble, NSW, 2073,</a> five-bedroom house, sold at auction on October 26 by Richardson &amp; Wrench Lindfield for $3.325 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_glendearg_grove_malvern_vic_3144/11577229" target="_blank">28 Glendearg Grove, Malvern, VIC, 3144,</a> four-bedroom house, sold at auction on October 26 by Jellis Craig Bennison Mackinnon Real Estate for $3.28 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/85_mont_albert_road_canterbury_vic_3126/10257589" target="_blank">85 Mont Albert Road, Canterbury, VIC, 3126,</a> five-bedroom house, sold at auction on October 26 by RT Edgar Boroondara for $3.25 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/71_balfour_road_bellevue_hill_nsw_2023/1366595" target="_blank">71 Balfour Road, Bellevue Hill, NSW, 2023,</a> five-bedroom house, sold at auction on October 23 by Richardson &amp; Wrench Double Bay for $3.21 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_mindanao_court_armadale_vic_3143/9319055" target="_blank">1 Mindanao Court, Armadale, VIC, 3143,</a> four-bedroom house, sold at auction on October 26 by Kay &amp; Burton South Yarra for $3.2 million
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Contemporary Coogee and restored Drummoyne this week's most expensive sales: RP Data

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Family-run Ballarat hardware store Dahlsen’s has sold to another independent hardware store, amid interest from a range of developers and retailers for the large 15,400 square-metre site.
Located at 55 to 63 Albert Street in the Ballarat suburb of <a href="/news">Sebastopol</a>, the site sold for $7.25 million, a reflection of $470 per square metre.
<img alt="ballarat_oct_29" height="353" width="470" src="/images/stories/2013/10/29/ballarat_oct_29.jpg">
The site was sold through Colliers International’s Charles Kennedy, Andrew Lewis and Tom Noonan.
“The successful purchaser, G. Gay Hardware, beat stiff competition from a mix of developers, retailers and other hardware chains, and will continue to operate it as a hardware store,” says Kennedy.
“Along with the local Safeway store, this evolving retail strip is also home to big-name brands including Aldi, McDonalds, KFC, Ford, UFS and Plus Petrol.
“Given the location opposite a strong trading Safeway Supermarket, we always expected keen interest from major national retailers,” says Kennedy.
Dahlsen’s occupied the site for the past seven years, with the site previously home to the oldest hardware chain in Ballarat, Coltmans Mitre Ten, which dates back to the gold rush.
<img alt="ballarat_oct_29_two" height="313" width="470" src="/images/stories/2013/10/29/ballarat_oct_29_two.jpg">
Lewis says retail offerings of this scale were uncommon in regional markets such as Ballarat.
Dahlsen’s will relocate to an 8,000-square-metre site in Delacombe.
The sale follows a series of sales by Dahlsen’s this year, selling their businesses in Horsham, Sale and Warragul to hardware giant Bunnings.
 
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Family-run Dahlen's sells Ballarat hardware store for $7.25 million

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Hawthorn East is to be injected with two new boutique residential developments on Camberwell Road, Soltice Apartments and Elmington.
Solstice is a seven-level development designed by Fender Katsalidis Architects and is already 35% sold ahead of construction commencement.
{yoogallery src=[images/stories/2013/10/31/haw1]}
Developed by Bensons Property Group, Solstice (pictured above) will feature 108 apartments across five levels.
Boasting a curved bronzed façade inspired by neighbouring buildings, the development will feature interiors by Carabolt Holt Turchinov, with residents having access to a gym, cinema and garden courtyard.
One-bedroom apartments start from $449,500 and two-bedroom apartments start from $530,000.
Apartments range in size from 45 square metres to 66 square metres.
Solstice will feature ground level retail, which is yet to secure a tenant.
Construction is scheduled to commence mid next year and is scheduled for completion in the second half of 2016.
Further up the road is Emington, a four-level boutique development featuring 68 apartments.
Located on the corner of Camberwell Road and Roseberry Street, Elmington (pictured below) boasts a modern façade of timber-clad balconies designed by Ariel Lopez.
{yoogallery src=[images/stories/2013/10/31/haw2]}
With interiors by Yvette Dumergue of Inhabit Design, residents will have the choice of different fittings and fixtures to suit individual tastes and needs.
One-bedroom apartments start from $399,000 and are 50 square metres in size.
Two-bedroom apartments are 85 square metres in size and are priced from $740,000.
Three-bedroom apartments range between 98 square metres to 129 square metres and are priced from $900,000 to $1.295 million.
South facing ground floor apartments offer direct access to the Fritsch Holzer Park through private courtyards.
The development launched on October 20 with seven apartments reserved to date.
The median apartment price in <a href="/news">Hawthorn East</a> is $490,000, a 6.7% change in the past five years, according to RP Data.
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Hawthorn East to welcome two boutique developments only metres apart

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Leighton Properties has acquired a large site in Moonee Ponds for $23 million with plans to build a mixed-use development 10 to 16 levels high.
The 1.339-hectare site on Hall Street was the former home of the Moonee Ponds market and includes five titles with six street frontages.
It is currently used for car parking purposes.
CBRE’s Scott Orchard, Justin Clarkson and Ari Petrovs – in conjunction with Colliers’ Peter Bremner and Jeremy Gruzewski acted on behalf of vendor, Reading Entertainment.
“This landmark development will help transform the suburb of Moonee Ponds into a thriving community just 6.5 kilometres from the CBD,” says Clarkson.
“Very rarely does a site of this size present itself with such extensive possibilities to deliver a landmark mixed use project of exceptional scale and town-centre prominence,” says Orchard.
Orchard says the surrounding amenities, including public transport, the Puckle Street retail strip and Moonee Ponds shopping centre will ensure the success of a high density, mixed-use development on the site.
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Leighton Holdings aquires Moonee Ponds site for $23 million

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A two-bedroom apartment in the iconic Port Authority Building on Market Street is due to go under the hammer mid-November.
Built during The Great Depression, the Port Authority Building won the Street Architecture Medal in 1932, the Royal Victorian Institute of Architects highest accolade.
Boasting 20th century revival architecture and designed by Sydney Smith, Ogg &amp; Serpell, the building reflects the Australian Made concept, with over 90% of the materials and workmanship coming from Australia.
The heritage building was converted into 111 apartments at the end of the 90s.
The 74-square-metre apartment has been with the current vendors for eight years and features two bathrooms and ceilings of up to 3.5 metres.
It is scheduled to go to auction on November 16 with a $560,000 plus price guide.
The apartment is listed with Eleanor Smith and Stephen Smith of <a target="_blank" href="https://www.caine.com.au/1115024/">Caine Real Estate</a>.
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Apartment in iconic Port Authority building to go under hammer

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Almost $5 million worth of apartments have sold at Proximity Hamilton in Brisbane’s Wharf Precinct since its launch on October 19.
The 14-level development is a joint venture between Peloton Group and Rockingham Park and features designs by Brisbane’s Cottee Parker Architects.
<img alt="hamilton-oct-28-three" src="/images/stories/2013/10/28/hamilton-oct-28-three.jpg" height="264" width="470">
Peter Malady managing director of 360 Project Marketing says the market is the strongest it's been since 2008.
"We’re just out of the blocks with Proximity Hamilton and we’ve already sold 10 units worth a combined value of $4.868m.
"When you see movement in the Sydney market, it’s inevitable that South East Queensland follows suit and that’s what we’re seeing here, because people see the value proposition.<img style="float: right;" alt="hamilton-oct-28-one" src="/images/stories/2013/10/28/hamilton-oct-28-one.jpg" height="306" width="199">
"This is typical of the Australian property market; South East Queensland is starting its new cycle upwards," says Malady.
Inspired by its proximity to the Brisbane River, Proximity Hamilton’s design reflects the rivers ripples and floating boats.
"The battens are inspired by the skeletal hulls of boats and as the ribs of a boat change along its length so too do these vertical battens change and warp along the length of the building," says Cottee Parker Architects director Sandra Browne. "Subtle shifts in the spacing between each batten and subtle twists across each elevation add a sense of animation and individuality," says Browne.
Featuring 127 apartments, one-bedroom apartments are 60 square metres and are priced from $330,000.
Two-bedroom apartments range in price from $495,000 to $655,000 and range in size from 85 square metres to 104 square metres.
Apartments feature floor to ceiling windows and light timber finishes.
<img alt="hamilton-oct-28-two" src="/images/stories/2013/10/28/hamilton-oct-28-two.jpg" height="364" width="470">
Malady says buyers have been a mix of investors and owner-occupiers.
"Investors have come from Sydney and Brisbane, in that order, who have bought predominantly one bedroom apartments.
"The owner-occupier buyers have come from a 5-kiloetre radius of the development and have bought the larger, two-bedroom apartments," says Malady.
"Location is what drives the Proximity brand and it’s what we, as developers, look for first and foremost," says Peloton Group director David Sweeney.
"Proximity Hamilton fits our development model by providing stylish apartments in dress circle locations at prices that represent excellent value to buyers.
"People are expecting more from where they live these days, particularly in terms of access to amenities, and we cater to that need - It’s what sets Proximity apart from competitor projects.
"Aside from spacious, modern apartments, Proximity Hamilton will offer a swimming pool and deck for the residents’ enjoyment, as well as direct access to the best that Portside has to offer – fine dining, boutiques, 24 hour gyms, a new Woolworths, Doomben and Eagle Farm racecourses, cinemas, beautiful river walks, the CBD and ferries," says Sweeney.
Construction is scheduled to commence in early 2014 for an early 2015 completion date.
 
<hr>
 Correction: The photos that initally accompanied this story were incorrect and have since been updated.
 
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Proximity Hamilton secures almost $5 million in sales in a week

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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<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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