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From my direct involvement with many projects taken offshore, a well-established sales path is required for success; otherwise if the exercise is poorly managed or the resources underestimated it can be a costly mistake.
However, well-managed and resourced offshore marketing campaigns do provide a unique avenue to bolster sales in particular off-the-plan sales, usually ahead of general open market release. And in laying the ground work we should firstly look at some of the particular attributes to fuel a successful exhibition or campaign.
When looking at Asian markets in particular there is a proven appetite among buyers looking for early participation in new projects. They like to be among the first, if not the first buyers offered a product.
However this does not always mean that an entire project has to be held off-market ahead of any offshore release, because it is possible to sell simultaneously with the right platforms to manage multi-channel sales or take a preferred selection of apartments, with such apartments having been selected to meet the preferences of the individual off-shore target markets.
This is also in part achieved by the discreet use of buyer database targeting so that an environment is created through which it is possible to fine-tune the offer that is being made at, for example, invitation-only exhibitions. This depth of knowledge further underlines the role and importance of local partners.
 
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These offshore exhibitions are also better planned to be project or location specific with the aim of attracting potential buyers who are already somewhat pre-qualified. A mix of different locations and varied product offerings can be difficult to promote.
Offshore exhibitions can also be built around an information or educational seminar format, driven by country- or project-specific research – possibly held ahead of the release any actual projects for sale. This can be a very productive format. Experience demonstrates very small details, if not understood, can discourage offshore buyers away from investing in foreign property markets. So what better way to overcome this hurdle than by educating and gaining a better understanding buyer concerns?
If market circumstances warrant, then participation in larger-scale general exhibitions can be justified, but I feel that there should be a clear need, as cost is can be a big issue. This includes not only the promoter’s fees but also the other direct expenses, which can make the event a very expensive exercise.
For Australian projects there is a greater acceptance of property exhibitions on a smaller scale in Asian markets, and they can be of great value. Many of the international real estate agency groups, including Colliers International, have well-established expertise in these areas. Even in buoyant times, a one–off venture into these markets would be difficult.
It is also important to keep in mind that in most external markets there can be a culture that expects that this will be “first bite” of any to these areas cannot be the best investment – due diligence is important!
There are a clear set of important steps that are required to successfully take projects offshore and to achieve a critical volume sales, each point needs to meticulously addressed.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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What is required to market residential developments to offshore buyers

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The general topic of foreign investment into Australia property almost always attracts a lot of attention. As it were, "selling the farm" has never been an overly popular idea. And at various times there has been a lot of attention paid to the suggestion that to many Australian homes were being sold to offshore buyers.
However, when taking new residential projects offshore, there is no guarantee of success, and like so many aspects of project marketing, the devil really is in the detail. Reputation is a key ingredient in markets where family and business ties are important. Before looking at the specifics of how to take a new residential project to offshore markets, I would like to put the market into some context.
The offshore market potential
According to Foreign Investment Review Board figures in 2010-11 real estate investment accounted for 23% of total foreign investment into Australia by value, and only mineral exploration and development and services are bigger sector.
So let me firstly put this into some general perspective. Australia-wide the total value of dwelling sales over the 2010-11 financial year was $193.5 billion. Houses accounted for $141.8 billion and units for almost $51.7 billion with these sales, including both new and established stock.
From figures published by the FIRB, approved investment in all forms of real estate was $41.5 billion in 2010-11 (compared with $20.0 billion in 2009-10). It does, however, have to be noted that these figures were affected by changes to the policy and administrative arrangements for residential property and so they do not provide a comparable view of investment activity in this sector.
Residential investment accounted for $20.92 billion for some 9,556 dwellings, of which new dwellings amounted to $12.54 billion of some 3,976 properties. Although the figures are somewhat complex it appears that most investment wound up in Victoria and NSW. It is, however, the new dwellings that are of central interest in our context as a potential target for project marketing, with new dwellings sold off-shore accounting for approximately 6.5% of all sales.
So before we start to look at how we might market to this target, it is worth looking briefly at the FIRB’s definition before we go further into this keenly watched topic.
New dwellings – the FIRBs definition:
“ New dwellings acquired ‘off the plan’ (before construction commences or during the construction phase) or after construction is complete are normally approved where the dwellings: have not previously been sold (that is, they are purchased from the developer); and have not been occupied for more than 12 months.
There are no restrictions on the number of such dwellings in a new development that may be sold to foreign persons, provided that the developer markets the dwellings locally as well as overseas (that is, the dwellings cannot be marketed exclusively overseas).
This category includes dwellings that are part of extensively refurbished buildings where the building’s use has undergone a change from non-residential (for example, office or warehouse) to residential. It does not include established residential real estate that has been refurbished or renovated.
A property purchased under this category may be rented out, sold to Australian interests or other eligible purchasers, or retained for the foreign investor’s own use. Once the property has been purchased, it is second-hand real estate and is subject to the restrictions applying to that category.”
By any reading this is a very clear policy and so sets the stage for taking new apartment projects offshore, the policy sets a firm foundation and avoids any sort of ambiguity, which is a good, as offshore buyers need straight forward rules to work with.
With offshore buyers possibly accounting for 6.5% of sales transactions it is a market worth our attention, but still a market that is a small target and one that requires considerable skill and resources to engage with, and that will be the focus of my next few posts.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How to attract offshore buyers to your residential property development

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I am sure you have heard of the baby boomer generation along with Gen X and Gen Y, now it’s time to get to know Generation C (Connected) and Generation S (Screen).
Why? Over coming years both of these groups will start to change how we market and communicate with these future buyers, and the trends are already showing up.
Generation C: Connected, communicating, content-centric, computerised, community-oriented, always clicking, they are primarily urban and suburban. By 2020, they will make up 40% of the population in the U.S., Europe, and the BRIC countries, and 10% of the rest of the world — and by then, they will constitute the largest single cohort of consumers worldwide.
Generation S is already here. They came on the scene during one of the most significant technological revolutions in the digital age the arrival of the portable screen. Goldman Sachs estimates almost 2 billion smartphones will be sold this year around the globe.
Now there is compelling evidence that successful brands will go where the action is – touch-screens, and this will include project marketing.
The Property connection
Local research indicates that almost 30% of real estate websites are now being accessed via mobile devices, including tablets, and that number is expected to increase to beyond 50% in the next two years. Beyond that, who knows?
We are now looking at a world where screens are used for everything from entertainment, communication, education, shopping and transacting. It makes the world much smaller and more accessible and at virtually any time, on demand.
How will marketers, brands, retailers and publishers stay relevant to this audience that expects to transact nearly everything on a touch-screen? First, they need to be where the consumer is and ensure a relevant brand experience irrespective of how the content and information were discovered.
That means creating and redesigning websites to render appropriately and dynamically for different screens and operating systems. How will brands facilitate seamless transaction and communication with these new consumers, who will only have the expectation of such an experience?
Brands are behind – but that creates an opportunity:
Today, 45% of Fortune 500 companies do not have mobile-optimised websites, according to a recent study from the Interactive Advertising Bureau. But now is not the time to sit back.
It’s still early innings for this screen-driven world, and there are many other avenues to still develop and explore. Now is the time to get involved with partners and help shape the Gen S and Gen C media platforms and experiences. For some years I have been involved with Tabletop Technology – the Hii interactive platform has been used on several Colliers International projects and very well received. Further to this our sales executives also use iPads to manage and service their potential purchasers.
Such new technology always requires investment and patience, but action now will best position us all to be prepared for what comes next and likely will arrive even faster than before, and this is where technology like Hii have already started us down that road.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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Residential property developers must get to know Generation Connected

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The time required to sell out a project is always critical. But along the way there will also be other milestones, which will include when and how a project is released to market.
For a major apartment development an important part of the marketing process, and possibly the central issue, is when and what apartment types are released for sale. In a project with say 250 apartments there will also be a wide diversity of apartments for sale with varied sizes, prices and configurations, and these will al influence the release program.
With small projects there is not this same diversity. While no two apartments are ever exactly the same, the marketing of a smaller project still needs to take into account how and when apartments are released for sale.
The marketing collateral may well have to address each of the apartments as “one-offs” to ensure that the sales path is supported with relevant information. When, for example, brochures are prepared, this is an opportunity to refine the creative content and show how different services and finishes are presented relevant to the scale of the project.
An essential goal is to ensure that one type of apartment is not sold out too soon or with a small project that one or two apartments are somehow seen as less than desirable because they take longer to sell. Apartment values and demand need to be managed across the project no matter how big or small. Demand, alongside detailed buyer feedback and sales rates, needs to be constantly monitored, discussed and where necessary the sales path adjusted.
In some examples this process can be very intense, for example during the first stage release of a new building, and in small buildings where release options might be limited, even more so.
In any project release there will be some highly desirable apartments that will always sell. This demand is hardly ever uniform and will vary with each project. A registrations-of-interest campaign might well indicate some valuable trends. This demand needs to be leveraged to the benefit of the entire project and in a small project capitalised upon during the early stages of marketing off the plan, ahead of construction. Because we are dealing with a small project there may well be an advantage and with changes that are easy to make across all apartments.
From the earliest stages of the marketing it is very desirable to maintain a detailed understanding of how different apartments are selling. Popular stock can if necessary be used to help encourage future sales. This is not suggested in an open-ended way, because in a small project sales volume will naturally be limited, but with planning the most popular apartments can play a critical part of the sales path and help to grow prices and encourage ongoing demand across the whole project.
One option would be to increase prices and hold some of the most popular apartments back to help make other stock more attractive to some buyers with more limited budgets. If the best (most popular) apartments in any project are sold and taken off the market during the early stages of the marketing, this can limit the ongoing appeal and flexibility of the project.
However time on the market must be carefully managed, as buyers will soon become sensitive to any apartments that are taking longer to sell than others, and when this happens to a number of apartments in a small building the entire sales path should be rigorously examined.
A final overview
My aim with these posts has been to talk about how a well-managed marketing campaign for a small project will help to unlock and sustain value. The market’s potential, timing and an insightful view of the target demographic are key factors.
But there is also a clear need to fully embrace and set priorities for the marketing and the sales path, because the highly efficient marketing tools that are now available will make a difference.
Budgets do not need to be excessive and it is important not to simply imitate what larger projects with their greater flexibility and resources might do. This is an area where experience and professional planning will help kick-start and then manage the best possible sales path. Which importantly gives all buyers what they need, and that is frequently highly focused support and information about the project. Above all small projects demand individual and well-managed marketing that can now leverage the best of online and traditional marketing.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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Timing is critical when marketing smaller residential developments

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Once the project website and the scope and detail of display material are under control there are a number of other key assets that I would always see as important. Many if not the entire remaining budget points are all related, including: photography, creative, signs, CGIs, direct mail, brochure, advertising and a project model.
In this post it is not my intention to go over each point in exhaustive detail. The intention is more about highlighting that despite the fact we are reviewing small projects, shortcuts in marketing will have an impact. And if one or two late or lost sales result that might have been secured with better marketing, this can actually have a much bigger impact. That point made, it is even more logical for smaller projects to have well-planned and considered budgets, so no opportunity is lost within the sales path.
This brings me back to a reoccurring point. The budget and planning processes are essential steps and the sales path will suffer if the marketing is not in tune with local conditions and the expectations of target buyers. Flawed plans may well result in a costly mistake and early research and access to an experienced sales team (even if small) is always wise.
While major developments will have more extensive up-front costs associated with bringing projects to market, smaller projects nonetheless still need to invest wisely in the key budget items below, and those that have already been outlined.
In combination these items, when well-managed, will present an entire raft of proven marketing opportunities. Planning will be a key issue, but experience shows that with careful monitoring of each stage, activity can and should be fine-tuned. For small projects this is very relevant during any registrations of interest campaign, where webtraffic and registration results can help unlock further valuable information about the target market and who is showing potential interest in the project.
Now as we move to look at other detailed aspects, like creative, advertising, brochures and signage we might keep in mind a number of pointers. Smaller developments tend to be either at the high-end part of the market where they can be very expensive apartments or where we are looking at popular in-fill locations, but generally we are marketing locations in well-established areas.
There is a trend where smaller developments are being built across already well-known suburbs because they usually have good access to public transport. This can still include a very wide variety of properties across particular areas including high-value developments where traditionally larger residential blocks are being amalgamated.
This can create a choice of apartments for sale in popular locations where there is an appealing marketing offer that can be told. These locations can provide a good foundation of material for brochures and being in already built-up areas where signs and direct marketing will usually have solid impact.
Even though there will be a diversity of product and demand across these markets, there will be challenges. Among the key challenges will be the possibility of having to develop projects with higher site and build costs.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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Shortcuts in marketing impact even small developments, so get your plan right

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In this post I am going to look at the links between project websites, pre-sales, and the importance of display materials.
Firstly I wanted to briefly outline how the site can be used to support an ROI (registration of interest) campaign. I also want to reinforce how essential it is for small projects to accurately target key markets, which will help appreciate the role of online activity. Because no matter how good a website looks, or how well it is constructed, there is a need to create awareness of the site, as it is not a source but a medium of enquiry.
The real estate industry is one of the largest users of online advertising, with an ever-increasing level of spending. Real estate was one of the first industries to exploit this media, and so we have already established a wealth of experience. Now the big changes taking place revolve around how funds are spent online.
Project marketing online expenditure usually involves email, commonly referred to as eDM (electronic direct marketing), targeted display advertising on the major property portals, paid search such as Google AdWords, organic search (search engine optimisation), video – usually via YouTube –and online audio or podcasts.
The understanding of how to benefit from online advertising is still evolving. The main reason for this stems from the reality that this is not a simple formula- or template-driven environment. We are dealing with a highly literate and experienced audience, therefore it is exactly the opposite.
There has been a big increase in the number of projects using ROI campaigns with the aim of securing pre-sales, in particular the sale of apartments off the plan. However, despite the popularity of ROI campaigns, I feel it is timely to emphasise that a solid framework built around a complete strategy is required. An experienced sales team should always have an existing quality database that can be a solid launch point.
Key aspects of ROI campaigns
While there can always be some buyer resistance in gaining pre-sales, there are also strong buyer motivations that can help to make the process worthwhile. Timing and the use of a well-structured website will be essential for the project to gain traction.
By comparison with larger projects, the motivation of buyers interested in small projects is frequently far less speculative. This group may well include experienced buyers looking for a particular area, or buyers driven by very specific lifestyle considerations.
While such buyers may not be easy to identify, during the course of a ROI campaign, they can be engaged via quality communications, including a well-managed online campaign and website to capture the leads.
At the start of such projects the value of existing quality databases will, as already highlighted, be an obvious advantage.
However, any database will only be of value if it is up-to-date and matches the needs of those who have taken time and effort to register. Because we are dealing with a smaller number of potential buyers, communication needs to be constructed with care, and a general scattered approach is a big negative. Our target may well lose interest if ongoing contact is poorly managed.
ROI campaigns will suffer if the marketing is not in tune with local conditions and buyers’ expectations. Flawed timing and inaccurate collateral would be a costly mistake. This is where we also start to see an overlap with the display material that will be required to support a small project.
I also stress that the same “rules” will still apply even when a small project, by its very nature, has a strong level of pent-up demand. While the buyers might not be camping on the streets, from a marketing perspective, they still share one important facet and this relates to the timing and accuracy of information available.
A major CBD apartment project can be flexible or staged, and the potential buyers will normally have more choice. Buyers can also take their time and possibly cherry-pick available stock, but in a small project this will not be the case. Once buyers have been attracted they need to be taken on a sales path that will readily secure the purchase.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How a development can secure sales from registrations of interest

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In my earlier post last week I outlined some key budget settings to guide how the marketing spend for a small development project might be structured. I did this because it is important to consider the key relationship between how marketing expenditure is structured and the likely impact these decisions will have on the sales path for a project.
The logic behind this way of working is that setting the marketing budget against the development and sales strategy will highlight the key market conditions that will have to be addressed in order to gain the necessary leads and subsequent sales – the benchmark of our marketing success.
Assuming that any project we are working with is yet to start construction, the marketing budget, if well managed and structured, plays an instrumental part in a project’s success.
I’d like to highlight two key points <a href="https://www.propertyobserver.com.au/residential/to-market-smaller-developments-you-must-fully-understand-your-target-market/2012081355995" target="_blank">from the marketing budget outlined in my last post</a>, being the project website and display materials. With both accounting for about15% of total budget they are potentially, outside of media, two of biggest and most effective areas of expenditure. Together they are also imperative in helping to drive off-the-plan sales.
If either of these two areas are under-invested in they can easily become issues that are expensive to overcome or they will add what are clearly avoidable time pressures. If the marketing budget is an early focus and with the amount of experience available with the right project team, I believe that such hurdles should be avoided, so they do not become issues that need to be addressed later in the project’s development.
The project website
The project website is an essential marketing tool.
Now that’s a statement that will not be a surprise to anyone working in project marketing, but its nonetheless worth re-stating.
And because we are talking about budget settings, it’s also worth acknowledging that website development and construction need not involve a large up-front cost, but effort in terms of quality content and keeping the site up to date, including being linked to database management (CRM – customer relationship management).
A well-planned website will also make allowance for the varied product stages that may be required during the marketing, starting off with the ROI (registration of interest) and pre-release period.
Some current project websites that in my view are stand-out performers for various reasons are:
<a href="https://www.colliers.com.au/smart/home" target="_blank">www.colliers.com.au/smart/home</a>
<a href="https://www.sundayapartments.com.au/" target="_blank">https://www.sundayapartments.com.au/</a>
<a href="https://www.beachsideliving.com.au/" target="_blank">https://www.beachsideliving.com.au/</a>
<a href="https://www.colliers.com.au/friday" target="_blank">https://www.colliers.com.au/friday</a>
<a href="https://www.swanstonsquare.com.au/" target="_blank">https://www.swanstonsquare.com.au/</a>
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How smaller developments can make the most of the project website and marketing materials

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Over the past two decades there has been explosive growth in the supply of new apartments. Every capital city and many major regional centres have now experienced the spread and popularity of apartments, in particular projects in or close to the CBD.
Major apartment developments are now a central element of urban growth and planning. The Gold Coast is now home to one of the world’s tallest residential buildings. Q1 is an impressive 322.5 metres tall, but other cities, including Melbourne, Chicago and Dubai, also have impressive residential towers.
There are an estimated 100-plus very tall residential buildings across the globe, thus clearly establishing the trend of mega residential towers on our skylines. And while these are impressive projects with extensive marketing campaigns, there is another side of the market – the smaller, more boutique style of development that increasingly peppers our suburbs. In particular these are popular in our popular and more expensive inner suburbs, where there are many projects on the go.
It’s a trend that is evident in particular across many older established suburbs, but this is not a new fashion, as areas like Sydney’s inner east and Melbourne’s St Kilda have long been home to many apartment buildings. Located on what would have been seen as the fringes of the CBD, Sydney’s 13-level Astor (built in 1927, architect Donald Esplin) is a great example of how smaller projects stand the test of time.
These inner-city apartments used to offer a very wide spectrum of prices, from the modest and affordable to the opulent and very expensive, but the reality now days is that to be financially viable, smaller buildings, in particular new developments as opposed to refurbishment projects, need to attract high prices.
However these projects can still cover a generally wide cross section of developments that can range between six and 20-plus apartments, and they are almost always in very desirable and well-established locations.
There tends to be very expensive apartments in these smaller buildings, in highly sought-after locations with AAA finishes, close to the best of established amenities and accordingly with multimillion-dollar price tags – but this does not always have to be the case.
Where do the residents come from for these apartments? Experience shows that many of these projects have become attractive to older buyers trading down from large family homes, either in the immediate area or from other wealthy suburbs.
However, when it comes to marketing these and other smaller projects there is never a simple answer, as the buyers are a diverse group. Smaller developments still attract a wide cross section of people, and while there may be fewer first-time buyers with young families, the market will still represent a mixed community.
Experience also shows that while the market has depth and diversity, the buyers can be harder to find and engage. This partly reflects the limited nature of supply and frequently there is less urgency.
Because of the size of each project the number of apartments for sale will be limited in any one location, but there may be several small projects spread across the area and there is always the private treaty market to consider.
Unlike a large project that can accommodate varied needs and product with much more flexibility appealing to many different buyers, smaller buildings tend to have a more specific target demographic and so the marketing plan, budget and mix of activity is very different.
Commercially it is also necessary to accept that a larger development with wider appeal could have more avenues for success, as the market is bigger. However the development costs will be much higher. This risk is harder to package and requires years of experience by the project team to get it right.
However, in setting the marketing outcomes for any development it is always necessary to take into account the impact of how the mix of apartments and the size of the project will be received by the market.
In some locations, like those mentioned above, generally much higher prices will be required to justify the risk. The amount of capital involved is higher, including the reality that land costs per apartment will be more, alongside demolition and possibly extended holding charges.
In such a case the mix of apartments, their size and standard of finish will be central options to consider if the desired net return is to be achieved. Here again the marketing will be critical so that time on the market is limited, and this would include targeting early off-the-plan sales successfully.
Given the impact of the development costs involved and the resulting asking prices for the project the target demographic that have to be reached should be locked in well before any marketing is undertaken.
The apartments that are created will have to appeal to a very select market in order to be commercially viable. This may appear obvious, but highly focused and accountable marketing will be required to ensure the target is engaged. Be they owner-occupiers or investors, the high prices involved only further emphasise this reality.
Mistakes will be harder to undo. If the target is not engaged, prices will suffer and it will take more time to sell all apartments. Also if the target is engaged and sells fast then prices can be adjusted.
Smaller developments in prime locations simply have to deliver appropriate, quality apartments for sale to justify the development risk with products to precisely match market expectations.
The marketing message needs to be structured for maximum impact to the particular target market. It will also be important in a smaller development to maintain consistent brand values, as a mixed message will only create confusion in the eyes of a very observant buyer.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a> 
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To market smaller developments you must fully understand your target market

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When we look at <a target="_blank" href="https://www.propertyobserver.com.au/trends/how-demographic-trends-shape-our-property-choices-peter-chittenden/2012080155815">the impact of family formation</a> it takes no enlightenment to understand that as families grow they have very different housing needs. This is an obvious fact but one that has far-reaching impacts for project marketing, because growing families top the list of reasons as to why most people move house. Likewise at the other end of the scale, when families shrink, the impact is visibly felt.
The needs of growing families have always fuelled the growth of Australian suburbs (as they do in every developed economy), and while more people are now living in the inner city and in apartments, the suburb is still, despite an ongoing debate about its future and cost, very much alive. Today across Australia on the outskirts of many cities there are major new areas of growth, and there are also areas where large tracts of in-fill sites are being developed.
However, almost without exception governments are either failing to deliver or are unable to afford the necessary infrastructure to support this growth, it’s a time bomb that is ticking away. The cost of new infrastructure impact almost every area of the housing market and is a major impediment to improving affordability and so directly impacts how families manage their housing needs.
There are also families who are very happy living in the city where they are big users of existing community facilities like parks, recreation facilities and schools. As children age some families do not see the inevitable need for a backyard or the need to live in the suburbs. These families are happy to trade private space for quality access to public space.
For the development community and as a key marketing challenge, finding the balance across these varied needs and aspirations provides choice and diversity of projects. The recycling of former inner-city industrial areas, which are close to established facilities, is one very big trend that is obvious in our capital cities and in many regional towns. And while these areas do not always have every facility or service, the density of development and the resulting increase in population then helps to underwrite investment in services.
Sooner or later almost all children will leave the family home, and this truth is one of the biggest drivers of demand in the housing market. While it is a gradual process, the demand created and the changes it causes for everyone involved, including mum and dad, are fundamental. The impact can be very chunky, like all those baby boomer kids leaving home in the late ’60s and into the ’70s and who now own a major part of the national housing inventory.
Young adults move into a flat, they move to a shared house or they buy their own home and they form varied relationships. Whatever step they take as kids leave home, it involves a shift in the demand for housing – both in terms of type and location. As families shrink some areas with less population have services run down, but over time we also see these same areas regain popularity and the cycle continues, and these are the very changes that create development and marketing opportunities.
This “chapter” is a big part of family formation story and also changes for many people the core dynamics of the family home, such as the amount of space needed and where people live.
Smaller families with fewer, no or older children at home have different housing needs, and now there is an emerging debate about the extent of empty rooms in family homes as areas experience housing crises and reduced affordability, and in some areas there appears to be a reluctance to sell up and move. The reasons for this reluctance are complex, but can include flat house prices plus the cost of moving including stamp duty.
Last week a study funded by National Seniors revealed that Australians give a huge $22 billion a year to their adult children. Why? Well, as it happens, to help them get established and mainly to buy property, but also to tide them over tough times.
As I look at older families the same survey also showed Australians gave another $1 billion a year to help house and support elderly parents. For the housing market the transfer of money between Australians aged 50-plus into the pockets of their children and to elderly parents suggests a more complex marketing environment. We may well have two target groups for some projects – the actual people living in the property and those (possibly older parents) paying or helping to foot the bill!
As families age and mature, this will almost always leave mum and dad at home, alone for much of the time in a home that has far too much space for just two people. The family home is now occupied by empty-nesters and so many, but not all, move on and in the move capital is freed up or the family homes acts as security to help house the next generation.
This same family home will also in many cases be sitting on a large block of land, that could either be subdivided or redeveloped – the pressures in infrastructure-starved cities are obvious.
One family moves on and another family moves in, or depending upon location and the age of the family home, it and adjoining homes become ripe for redevelopment. Development then responds to the changing demographics trends in an area, and that triggers, for example, the construction of medium-density apartments. This change at times results in intense community debate, but if we accept that family formation shifts with time and reflects wider social trends than the change might be seen as less disconcerting.
As the density of housing in an area shifts so will local services change, schools will close, or new ones open and the retail and social mix of an area responds, the housing market does not remain static and change is frequent.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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As couples have children and children grow up, housing needs change dramatically

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<a href="https://www.propertyobserver.com.au/demographics/the-changing-nature-of-families-and-their-impact-on-the-property-industry-peter-chittenden/2012071855614">In my last post</a>, my aim was to outline how key aspects oF family formation impacts the demand for real estate. Looking at how particular demographic trends go way beyond influencing demand to fundamentally shape our immediate community and cities.
 
To round off these posts, this week I will look at what is I think, a very familiar journey. It’s a journey from our first flat, to a group house, finding a partner, becoming a first home buyer, having kids, investing in real estate other than the family home and getting older.
 
From that first flat to buying a retirement home, every step plays into the fabric of the residential market and has a direct impact on how and to whom we market our projects.
 
All of these stages of family formation drive and shape our markets, and during many of these stages incomes also grow and the priorities of the buyers shift.
 
So much so that if a well-established pattern shifts, the market needs to be ready to respond. People leaving home later, marrying and having children later are some recent stand out examples that have also helped shift demand to more medium density living. I would also like to think that by always taking a keen interest in social and demographic trends we are better placed to deliver projects to satisfy current and future needs.
 
So far I have looked at the singles market, finding partners and the reality of how lifestyle and housing needs change when here come the kids. This week over a series of posts I would now like to close off this interesting topic as we look at the impact of an older population.
 
As families mature and personal and family incomes peak, the mindset of the target market changes markedly from being single or from being a first time buyer. While many people will trade-up in the market others will also turn to real estate as an investment.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How demographic trends shape our property choices: Peter Chittenden 

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

Joel Robinson

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

Peter Chittenden

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