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Inner Brisbane projects a picture of surging demand for off–the–plan apartments since 2013, creating record supply in future, while units rented out occupy a major share of all apartments in the area, according to the latest findings from research firm BIS Shrapnel.
Demand for Inner City apartments from investors shows little signs of abating in the short term despite its impact on rents, with completions to peak in 2016/17 at more than 7,000 apartments. Also, Brisbane's relative affordability compared with Sydney or Melbourne means more investors will choose Inner Brisbane apartments (IBA), says the paper titled Inner Brisbane Apartments Market Brief 2016.
The research focuses on indicators relating to demand, supply, rents and prices.
The major locations in Inner Brisbane to see developments on a large scale are CBD/Spring Hill, Inner East, Inner North, West End, Toowong, Woolloongabba and Hamilton.
APARTMENT PROFILE
Rental apartments account for 58 percent of total apartments in the IBA area, considerably higher than the 29 percent share for all dwellings across Greater Brisbane. This highlights the preference of investors to purchase properties close to good transport links and major commercial, retail and entertainment centres, where tenant demand is likely to be greatest.
Owner occupied dwellings represent 31 percent of IBA area stock, with a slightly greater share of these having a mortgage (being purchased). Conversely, a significantly higher 63 percent of Greater Brisbane dwellings are owner occupied.
Unoccupied dwellings—those that are held as second homes or kept empty as a speculative investment— comprise 11 percent of total apartment stock in the IBA area, compared to 8 percent across Greater Brisbane. It is expected that this level will increase from 2014/15, given the level of overseas demand and the potential that many may be held and not released to the rental market.
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DEMAND PROFILE
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The age profile of apartment residents suggests that people first rent when moving into the IBA area, with 47 percent of occupants in rental households aged 20 to 29 years old. If people remain in, or move into, the IBA area beyond 30 years of age, there is a higher propensity to purchase an apartment.
Households with a mortgage are mostly younger, with 50 percent of people occupying an apartment being purchased aged 30 to 54 years old. Within fully owned apartments in the IBA area, the demographic is older, with 59 percent of occupants in these apartments aged 55 years old and over. 
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Demand Drivers
An analysis of the age profile of apartment residents suggests three main groups driving occupier demand: students, younger adults, and older empty nester adults.
Students account for 17 percent of the IBA population, with 56 percent being overseas students. Overseas students create instant demand for accommodation, opting to reside close to their place of study. After a post-GFC decline, overseas student enrolments have been in recovery mode since 2014, driven by a lower Australian dollar. The improvement has occurred across all education sectors. 
The young adult apartment population is typified by those in white collar employment. Inner Brisbane employment growth has been weak in recent years due to State Government cost cutting and a reduction in mining services jobs. There is evidence that the decline may have bottomed out, although the recovery is likely to be slow (Chart 4).
Empty nesters are classified as those aged 45 years old and over, being either singles or couples without children. Empty nesters comprised 28 percent of the non-student adult population in the IBA area at the 2011 Census. 
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INVESTMENT
Rental Vacancy Rates
Vacancy rates in Inner Brisbane remained below the balanced market rate of 3 percent from June 2004 through to June 2013, except at June 2009, when a rapid reduction in standard variable rates and the introduction of boosted incentives to first home buyers during 2008/09 encouraged existing and potential tenants to become owner occupiers.
Unlike Middle and Outer Brisbane, vacancy rates in Inner Brisbane have increased since 2013/14, reaching 3.8 percent at December 2015. While some of this rise may reflect the rate of new stock coming to the market and the time required to fill the stock, the steady rise in vacancy rates through 2014 nevertheless suggests that an excess of rental stock is emerging within Inner Brisbane. 
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Table 1 (main picture) outlines the weighted median two bedroom (the most common type of unit) rent and weighted median unit price of the IBA area post codes, along with an indicative yield representing the rent divided by the price.
Unit rental yields increased to a peak of 5.52 percent at June 2012, and remained at a similar high level over the following year. Combined with the low interest rate environment, investor demand strengthened and drove solid unit price growth of 5.9 percent in 2013/14.
Relatively low borrowing costs also reduced cash outflows for investors and diminished the necessity for landlords to increase asking rents, particularly with low borrowing costs making it easier for tenants to shift to owner occupation. As a result, rental growth remained below 1 percent per annum since 2012/13. Unit yields eased to a low of 5.08 percent at June 2015.
Rising vacancy rates will limit rental growth in 2015/16 to an estimated 0.1%. Moreover, preliminary data suggests unit prices may have declined, as the record level of apartment completions in 2015/16 creates increased competition and has a negative impact on resale prices. With a decline expected in prices of 2 percent in 2015/16, the indicative yield for a two bedroom apartment in the IBA area will improve slightly to 5.19 percent at June 2016. 
SUPPLY PIPELINE
Off–the–plan apartment demand within the IBA area has escalated from 2013, attributed to attractive yields, low or volatile returns for other investments and low interest rates. The rise in off–the–plan sales has allowed a greater number of projects to reach sufficient pre-commitment levels to obtain finance and begin construction. As a result, the IBA Area experienced a sharp increase in apartment completions in 2014/15 to 2,920 apartments. The period between peak demand and the subsequent lag of pipeline supply reaching the market has apartment completions set to soar to record levels over the next few years. In 2015/16, we estimate that approximately 3,250 apartments will be completed, surpassing the record high set just the year before.
In the short term, demand for Inner City apartments from investors shows little signs of abating despite the potential impact on rents and prices of further sizeable new additions to the rental stock across Inner Brisbane. Based on the current pipeline, completions are on track to peak in 2016/17 at over 7,000 apartments, of which investor owners will continue to form the bulk of underlying demand. Relatively less expensive apartment prices, and more attractive rental yields compared to their respective home markets, is likely to sustain demand for IBA stock from investors in Sydney and to a lesser extent, Melbourne. Similarly, this should also see overseas investors increasingly favour Inner Brisbane apartments over Sydney or Melbourne with demand from other countries also underpinned by a preference to invest in more transparent and stable political environment. 
Consequently, IBA Area completions are on track to escalate above the record levels in 2015/16, increasing to a peak of 7,182 apartments in 2016/17, 6,468 apartments in 2017/18 and 5,497 apartments in 2018/19. The West End and Inner North precinct will be the mainsource of new apartments in the IBA area over the three years to 2018 accounting for 60 percent of all new supply. Apartment completions as a proportion of total IBA area is expects to be next greatest in CBD/Spring Hill (13 percent) and Toowong (10 percent).
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Inner Brisbane apartments a huge draw with investors in spite of record supply: BIS Shrapnel 

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Victoria's Mildura has remained at the start of the recovery period on valuation firm Herron Todd White's property clock for several months now.
The property clock is a simple broad brush means of indicating where property prices are and the direction they are headed. The April clock dealt with fringe suburbs across Australia and one of them was the regional Victorian city of Mildura.
Mildura is the centre of a large irrigated horticultural district and within 30 kilometres there are a number of smaller towns and communities which either pre-date Mildura or were developed to support the surrounding farming communities.
These small communities include Nichols Point, Irymple, Red Cliffs, Cardross, Koorlong, Merbein and the NSW towns of Buronga, Gol Gol, Dareton and Wentworth. All of these communities have primary schools and the larger towns have the usual shopping and recreational facilities.
Those communities within 10 kilometres of the centre of Mildura generally have real estate values which closely track those of Mildura, while the more remote towns are more affordable and generally have less capital growth. Examples of towns more than 10 kilometres from Mildura include Wentworth, Merbein and Red Cliffs. Purchasing a home in these towns is an option for buyers not able to afford a similar standard dwelling in Mildura, particularly those seeking larger lot sizes.
Typical values for a three-bedroom, one-bathroom older residence in Merbein are in the range of $120,000 to $160,000 and show rental levels of $200 to $250 per week giving a gross yield of around 8%. Yields are similar in Wentworth but a little lower in Red Cliffs.
Red Cliffs has enjoyed relatively strong population growth in the past 10 years, with several new subdivisions completed to capitalise on demand from people happy to live in a small town and often employed by businesses in the Iraak and Nangiloc irrigation districts further to the south. The recent decision by Treasury Estate Wines to close its bottling facility at Iraak has affected approximately 100 employees, many of whom lived in Red Cliffs. Demand for rental accommodation in Red Cliffs has consequently declined.
Our advice to investors is that buying a home in the fringe towns will often result in a higher yield, however, history has shown that capital gain has been low compared to Mildura or the towns closer in. 
Property Observer looked up some recent property sales in the $120,000 to $200,000 range in some of the fringes on www.realestate.com.au and came up with these:
<img src="/images/2016/05/23/700_fringe1.jpg" alt="" width="570" height="346">
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-merbein-121196838" target="_blank">26 Sanders Street Merbein Vic 3505</a> sold for $165,000, according to RP Data.
<img src="/images/2016/05/23/700_fringe2.jpg" alt="" width="590" height="358">
2. A three-bedroom cottage at <a href="https://www.realestate.com.au/property-house-vic-red+cliffs-120817453" target="_blank">40 Goulburn Avenue Red Cliffs Vic 3496</a> fetched $118,000.
 
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Fringes in Victoria's Mildura offer higher yields, but capital gains slower: HTW

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A new 15-level residential tower overlooking the heritage-listed Gasometer will come up in Brisbane's Newstead.
Gasworks Residences by Tom Dooley Developments will comprise 182 apartments over 14 storeys. Construction is expected to later this year, said a media release.
Some are two-bedroom apartments, but nearly half boast a multi-purpose room that could be used as a media room, office or third bedroom. Priced range from $525,000 to $1.15 million.
Designed by Shane Plazibat Architects, all of the apartments will have balconies between 16 sqm and 34 sqm, floor-to-ceiling glass and stone benchtops.
The rooftop area on the fifteenth floor features a 25-metre infinity pool, yoga terrace, gym, private sunken courtyards and an outdoor kitchen.
The ground floor will have 1,500 sqm of retail space. 
TDD managing director Tom Dooley said the suburb had strong appeal, particularly for local buyers looking to buy into the urban village lifestyle.
“Gasworks is really the epicentre of urban renewal in Brisbane, which is why we are building our second major development there," he said.
“Our first Gasworks development – Skyring – sold out in weeks. There’s plenty of interest in good quality, well sized apartments, particularly when they’re close to Brisbane’s best food, shopping and nightlife.”
Skyring is currently under construction in Newstead.
Dooley said initial sales were strong, driven by young professionals and downsizers in search of the urban village lifestyle.
More than 70 percent of Newstead households are couples without children or singles, with more than half aged between 25 and 44, said the media release.
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15-level apartment tower set to come up in Brisbane's Newstead 

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The fringe areas of Queensland's Tweed were discussed by valuation firm Herron Todd White in their April property clock -- a simple broad brush means to suggest where property prices are and where they are headed. 
The fringe suburban areas at the southern extremity of the Gold Coast and Tweed are the inland locations of Bilambil Heights, Chinderah, Cudgen, Tumbulgum and beach side towns of Pottsville, Cabarita and Bogangar. 
Within Bilambil Heights , the average range in selling prices for units in the past six months is between $325,000 and $400,000. Weekly rents range between $300 and $425. Gross yields generally range between 5 percent and 6 percent. The average range in selling prices for houses sits between $400,000 and $550,000 with gross yields generally ranging between 4.5 percent and 5.5 percent. 
At Chinderah, Cudgen and Tumbulgum, the average range in selling prices for units in the past six months is between $200,000 and $300,000. Weekly rents range between $225 and $350. The range in selling prices for houses is between $325,000 and $550,000 with rents between $350 and $550 per week, with an example of gross yields of circa 4.75 percent to 6 percent.
The beachside townships of Pottsville, Cabarita and Bogangar have unit sales within the past six to eight month from as low as $250,000 up to $450,000 generating gross yields of up to 5.5 percent. The houses appear a better investment as they have no body corporate fees. Sales between $450,000 and $625,000 generate rents between $475 and $600 per week reflecting gross yields of up to 5.5 percent. 
Sales activity and prices have improved within the beachside, sought after Tweed Coast locations, making it more difficult for buyers as stock levels have tightened. Accordingly, some buyers are opting to purchase better properties in fringe localities which provide more property for their money.
History has however generally shown that it is wiser to invest in property in localities closer to the coastline and urban amenities. Although, based on affordability restraints, some buyers can only afford to purchase in fringe areas which have lesser capital growth in comparison to ‘in demand’ localities.  
Property Observer looked up some recent sales in the fringes of Tweed on www.realestate.com.au around the average range for some of the mentioned suburbs.
1. A two-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-chinderah-122536086" target="_blank">82 Wommin Bay Road, Chinderah</a> sold for $385,000.
2. A three-bedroom duplex at <a href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-pottsville-121697386" target="_blank">1/43 Newcastle Drive Pottsville</a> traded for $420,000.
 
 
 
 
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Tweed Coast fringes attracting buyers as beachside property prices spike: HTW

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A private Australian syndicate has taken the first steps in its $450-million transformation of the cyclone-battered Port Hinchinbrook resort in North Queensland.  
The Passage Holdings, an Australian company linked to American businessmen Lewis Cohen and Stephan Pinto, has already spent $4 million on improvements.
Architects DBI Design have been hired to work on the resort, which will be renamed Hinchinbrook Harbour and Resort and staged over 10 years.
DBI Design’s masterplan for the resort includes a $45 million international fishing village, new marina, family resort, water theme park, 300-site motorhome park, camp grounds, backpacker accommodation and waterfront residential lots and apartments.
Pinto said the syndicate’s $4 million initial investment included around $500,000 on restoring the sewerage treatment plant, more than $2 million on the grounds and marina village, commercial building, street lighting and public access, plus $750,000 on masterplan designs and consultation.
The syndicate took possession of the resort and marina property last year and is preparing to settle on its $3 million purchase from liquidator FTI Consulting in coming weeks.
The resort’s restaurant/retail precinct is due to reopen in mid-July following repairs, while work is about to start on dredging the heavily silted harbour and the rebuilding the 266-berth marina.
The resort, which was battered by Cyclone Yasi in 2011, was first developed by the late Keith Williams adjacent to Hinchinbrook Island, near the historic village of Cardwell, during the 1990s.
The Hinchinbrook Island Resort closed in 2010, just prior to Cyclone Yasi, while the commercial tenancies at Port Hinchinbrook were closed in 2011, as a result of damage caused by the cyclone.
Liquidators took over the resort after Williams Corporation collapsed in 2013.
Pinto, who has developed residential and commercial property in the US for 35 years, said he was amazed at the value and potential of the property.
“I have been in real estate for a long time with experience in tourism assets worldwide - when I was informed about this project, I found it to be an interesting and compelling story,’’ he said.
“Having experienced Hurricane Katrina and the effects it had on our properties in Texas, I knew there could be an opportunity for our investment group. The impact of Cyclone Yasi had on Port Hinchinbrook was similar." 
Pinto established Allied Financial Services in 1993, which has an investor base which invests in opportunity-based real estate projects.
His American partner, Lewis Cohen, is president and founder of Diversified Products Group. 
 
 
 
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Private syndicate takes first steps to revive Port Hinchinbrook resort in Queensland

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Almost half of Australian home owners have never refinanced their mortgage, according to the results of a new consumer survey by Aussie Home Loans. 
The survey of more than 1,000 mortgage holders showed 45 percent have never refinanced their home loan.
Aussie CEO James Symond said wasn’t surprised by the finding because most mortgage holders are likely not sure about how refinance works, according to a report in the MPA online magazine.
Nearly one third (29 percent) of respondents said they have never refinanced because they think they won’t get a better deal. Almost one in five (18 percent) said haven’t thought about it or don’t know where to start and 17 percent believe it’s too time consuming.
Of the 53 percent of respondents who have refinanced, it happened, on average, more than two and a half years ago. 
“It’s not surprising that home owners don’t know where to start and think refinancing is time consuming, but that’s where a mortgage broker can help," he said.
“Aussie brokers are now doing more refinance home loans than any other type of home loan, and that’s because our customers want an expert who’s on their side to get it done for them.”
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Nearly half of Aussie home owners have never refinanced: Survey

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Queensland's Townsville city was at the bottom of the market cycle in both April and May in valuation firm Herron Todd White's property clock -- a simple broad brush means of suggesting where property markets are and what direction they're headed. 
Affordability concerns continue within the Townsville market with buyers only purchasing properties they regard as affordable based on their current economic circumstances. Job security, high unemployment and the absence of any local stimulus or broader economic drivers would indicate little change from this position in the short term. The residential market remains stationary at the bottom of the market cycle.
While not limited to these suburbs, the fringe areas of Condon, Burdell, Deeragun and Mount Low offer affordable entry levels for basic semi-modern homes.
Condon is in the south-western suburbs within five kilometres of Willows Shopping Centre and is easily accessible to major employment hubs of the Townsville Hospital, James Cook University and Lavarack Army Barracks via the Townsville Ring Road. Condon comprises a mixture of housing styles including semi modern on-ground masonry block and high set timber framed dwellings of fair to average condition. Pockets of this suburb have perceived social issues and a reasonable amount of government housing. Price entry into this suburb is from the low $200,000s.
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Burdell, Deeragun and Bushland Beach are located within the expanding northern beaches corridor. Over the past few years there have been major expansions in infrastructure and services along this corridor including fast food, shopping centres, schooling and strip retail centres. Deeragun comprises a mixture of dwelling types from basic to modern on ground homes. This suburb has some perceived social issues and price entry is from the low $200,000s. The areas of Burdell and Mount Low generally comprise more modern homes with price entry from the high $200,000s to low $300,000s.
Overall there remains affordable buying in all sectors of the residential market if you are willing to shop around. The secondary suburbs where there are perceived social issues offer some good buying, with the trade-off between value for money and these perceived issues posing consideration. Outer lying suburbs also offer some good value for money in the bottom of the market position with an oversupply of property available relative to current demand. 
Property Observer looked up some recently sold properties in the $200-$300,000 range on realestate.com.au and came up with these:
<img src="/images/2016/05/20/main-1.jpg" alt="" width="497" height="373">
1. A three-bedroom house with a pool at <a href="https://www.realestate.com.au/property-house-qld-condon-121322790" target="_blank">133 Pinnacle Drive Condon Qld 4815</a> was traded at $255,000.
<img src="/images/2016/05/20/main-2.jpg" alt="" width="665" height="499">
2. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-burdell-122002418" target="_blank">79 Lady Musgrave Circuit Burdell Qld 4818</a> sold for $300,000.
 
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Fringes on Queensland's Townsville offer affordable entry to home buyers: HTW

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The official cash rate is likely to fall to 1 percent or lower as a lack of fiscal policy from the government places the onus on lifting demand on a weaker currency and the RBA, Macquarie says. 
In a bearish note, the investment bank's head of economic research James McIntyre says that without government policy support – backed by a global fiscal boost, or substantive structural reforms in key trading partners such as China – the RBA will be forced to cut rates further as it fights disinflatio n.
"With weak income growth a demand boost is needed. A weaker currency or fiscal policy boost are the two available options," Mr McIntyre said.
"The recent budget projected continued fiscal consolidation and only forecast a modest contribution to growth from public demand."
Wage growth hit an 18-year low<a href="https://www.afr.com/markets/wage-growth-hits-new-18year-low-20160518-goxpit"> </a>in the March quarter, Australian Bureau of Statistics data showed this week.
Government support appears unlikely, and the currency is unlikely to fall on its own because global investors are drawn to the Australian dollar for its relatively high returns, given the ultra-low interest rates worldwide. 
The RBA will therefore be forced to slash the cash rate to 1 percent – a 75 basis-point fall from its current record low of 1.75 percent – or lower to keep a lid on the currency. It may have to cut even further to push the Aussie low enough to lift domestic demand, Mr McIntyre said. 
"The decline in the Australian dollar has helped to improve Australia's competitiveness whilst sustaining nominal price levels in the economy – although wages are adjusting lower," he said.
Bearish banks
But a further fall in the local currency to around US65¢ is necessary to assist the economy's adjustment beyond trade services, he said. The dollar is currently buying around US72¢.
The assessment is the most bearish among Australia's major banks. Commonwealth Bank of Australia, ANZ Banking Group and Westpac Banking Corporation all forecast a cut to 1.5 percent by the second quarter of 2017, according to a Bloomberg survey on May 6. But National Australia Bank has the rate remaining at 1.75 percent. 
Lower for longer interest rates would drive government bond yields lower, and Macquarie expects the 10-year bond yield to fall below 2 percent in the 2017 financial year.
On Monday<a href="https://www.afr.com/markets/australian-10year-bond-yield-at-lowest-ever-20160516-govw3q"> </a>the yield fell to 2.2 percent, its lowest level in more than a century, down from 2.55 percent ahead of the RBA's latest policy meeting, where the cash rate was cut to 1.75 percent.  
But the economy is still tipped to grow, and avoid a recession, Mr McIntyre said. 
Gross domestic product will grow at a rate of 2 to 2.5 percent, or "muddle through", helped by Australia's strong population growth and a one-off lift in resource export volumes that will generate 75 to 125 basis points of growth over the next three years. Outside of this boost, the economy will flatline. 
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RBA will be forced to cut interest rate to 1 percent or lower, Macquarie says

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Want to list your business online for free and get user reviews as well?
Log on to Wealthify.com.au. The site allows financial services providers to create a free listing for their business. Consumers can then search these listings for brokers and advisers as well as read or post reviews.
Darren Moffatt, founder of Seniors First mortgage brokerage and online marketing agency WebBuzz, is the site’s creator, reports Australian Broker. 
“The listings on the site are indexed by Google and because we use our digital marketing expertise to promote the site, it is becoming highly visible on the search engine. For example, if a consumer searches for a mortgage broker in the Blue Mountains they will find one of our listings,” he told Australian Broker.
“In addition to that, consumers can use the site to leave reviews – and reviews are really, really powerful in the online space. If a broker creates their own listing and sends an email out to their clients to leave a review on the site, what they will find is that the listings that have reviews will appear much higher in the Google results.”
Users can also upgrade to Wealthify premium options starting at $49 a month. 
In addition, the site has a marketing hub where brokers and advisers can purchase search engine optimisation packages and social media management packages through the online shop.  
Moffatt said the idea behind Wealthify was to help financial services providers with their online footprint. 
“The overriding thing was we wanted a place for brokers to promote their business and get marketing help online. Equally, we wanted an opportunity and a place for consumers to come and find brokers or financial service providers and be able to have a say about any good operators they might find.”
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Wealthify.com.au allows brokers to list and market their business for free, mostly

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The buzz around an oversupply of new apartments in Australia is exaggerated as many of the proposed developments will never eventuate because of financing problems, says online property agency iBuyNew, which specialises in off-the-plan properties.
Chief executive of iBuyNew, Mark Mendel, said many developers with approvals in place for apartment complexes will not complete the project because they are unable to obtain finance.
“While there is a lot discussion about banks toughening their lending policies for buyers, they are even tougher on developers,” Mendel said.
“Developers with no track record are getting a blanket ‘no’ from lenders across the board, while those with a limited track record are also finding it extremely tough.”
Mendel said the generalisation that Australia had an oversupply of apartments was too simple and one needed to look at the specifics of each state, region and suburb.
“There are definitely pockets of Brisbane, Melbourne and Sydney that may experience an oversupply of apartments.
‘But if you look at Zetland/Waterloo in Sydney’s inner south where thousands of new apartments have been built over the last five years, everyone expected an oversupply but capital growth has still been more than 10 per cent in the last 12 months.”
Mendel said South East Queensland was going through a massive transformation.
“This is becoming an international region with infrastructure developments such as the new $2 billion casino in Brisbane as well as the Gold Coast hosting the Commonwealth Games in 2018,” he said.
According to Mendel, the infrastructure boom will change the way the world sees Brisbane and South East Queensland in future. 
 
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Apartment oversupply overstated as many projects won't take off due to lack of financing: iBuyNew CEO

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>.

Prateek Chatterjee

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