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House prices in Australia have outperformed apartments by a significant margin for long-term capital gain but the growth gap is narrowing, reflecting the increasing social acceptance of apartment living as demographic trends shift, according to John McGrath in a recent Switzer blog.
The claim is well supported by facts. House prices in Sydney rose by 11.5% in 2015 with apartments trailing by just a touch at 11.3%, according to RP Data. Across the five prime capital cities (Sydney, Melbourne, Brisbane/Gold Coast, Adelaide and Perth), growth was exactly 8% for both property types.
Apartments are clearly not the poor cousin of houses when it comes to returns and part of the reason is that apartment living is becoming the preferred choice for a growing proportion of the population, he writes.
In fact, there’s a good chance apartments may replace the quarter-acre block as the new Australian dream because many are in localities that are close to work and social activities and come with perks such as gyms, pools and concierges, argues McGrath.
Changing demographics are also driving this trend. While the nuclear family is still dominant, an increasing number of Australians live in a couple relationship without children or by themselves – and neither need or want to live in a house.
By around 2030, childless couples (DINKS and Empty-Nesters) will become the most common family type in Australia – and lone person households (SINKS and older people) will become the fastest growing household type, according to the ABS.
Adding to this is increasing interest in apartments from investors due to affordability, as well as rising international demand. Foreign Investment Review Board (FIRB) restrictions mean overseas investors can only purchase new stock – typically apartments.
Apartment living is on the rise around the world – literally.  
In McGrath’s annual report, the tallest residential towers both in Australia and overseas were profiled. Many of them here at home are still in development with one of the highest, Australia 108 in Melbourne offering ‘cloud residences’ from Floor 71 up. The tallest residential tower in Sydney, Greenland Centre on Bathurst Street, is also currently under construction.
In conclusion, McGrath predicts that there will be larger apartments for young families, offering a home within a 20 minute radius of everything they need, such as schools, shops, jobs and transport.
Tallest residential towers – Australia
235 metres
Greenland Centre
115-119 Bathurst Street, Sydney
249 metres
Infinity Tower
43 Herschel Street, Brisbane
254 metres
Prima Pearl
35 Queensbridge Street, South Bank, Melbourne
265 metres
120 Collins Street, Melbourne
297 metres
Eureka Tower
Riverside Quay, South Bank, Melbourne
319 metres
Australia 108
70 Southbank Boulevard, Melbourne
323 metres
Q1, 9 Hamilton Avenue, Surfers Paradise, Gold Coast
Tallest residential towers – International 
339 metres
Mercury City
1st Krasnogvardeysky Avenue, Moscow, Russia
380 metres
Elite Residence
Al Sofouh Road, Dubai, UAE
382 metres
Burj Mohammed Bin Rashid
Khalifa, Bin Zayed The 1st, Abu Dhabi, UAE
393 metres
23 Marina
568 Al Marsa, Dubai Marina, UAE
414 metres
Princess Tower
Al Marsa, Dubai Marina, UAE
426 metres
432 Park Avenue, New York, USA
632 metres
Shanghai Tower
Luijiazui Finance and Trade Zone, Pudong District, Shanghai, China
828 metres
Burj Khalifa
1 Sheikh Mohammed bin Rashid Blvd, Dubai, UAE
*Source: Household and Family Projections 2011 to 2036 (series II), released March 2015
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Apartments may usurp houses as growth gap narrows: McGrath

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New apartment sales on the Gold Coast jumped by more than 80 per cent in 2015 and the trend is expected to continue this year, with two-bedroom homes the most popular, according to new research by consulting firm Urbis.
A total of 1,494 new apartments were sold last year compared with 825 in 2014, reveals the latest Gold Coast Apartment Essentials report.
Affordability, foreign investment and population growth contributed to quarter-on-quarter sales growth in 2015, said Urbis senior consultant Lynda Campbell.
“The Gold Coast apartment market has experienced its highest level of activity in almost eight years, after a lag in residential construction following the global financial crisis,” Campbell said.
Urbis said it was monitoring 26 new projects which could launch during the next six to nine months and bring some 2,500 new apartments to the market, which at the current sales rate, is roughly 18 months’ supply. However, demand is expected to increase as the Gold Coast experiences one of the highest rates of population growth (2.3 per cent) in South East Queensland, the latter figure is according to the Queensland Treasury and Trade.
“Retail, health and transport projects including the $670 million redevelopment of Pacific Fair Shopping Centre and stage two of the Gold Coast Light Rail are expected to continue to drive lifestyle factors and demand in 2016.”
Sales activity ramped up in the last quarter of 2015 with 453 transactions across 58 projects, compared to 416 sales in the previous quarter and 303 in the corresponding period of 2014.
The luxury apartment market also experienced a sales surge between October and December with 37 sales exceeding $1 million, compared with 12 in the previous quarter and 18 in the corresponding period of 2014.
The majority of activity was around the Gold Coast Central precinct which recorded 254 transactions for the quarter and 714 sales in total for 2015.
The two-bed two-bath apartment product was the most popular product type for the year with 428 total sales across the precinct.
*Coastal Fringe suburbs include Arundel, Parkwood, Molendinar, Ashmore, Benowa, Bundall, Carrara, Robina, Clear Island Waters, Merrimac and Varsity Lakes.
*Gold Coast Central suburbs include Labrador, Southport, Main Beach, Surfers Paradise and Broadbeach and Broadbeach Waters.
*Southern Beaches suburbs include Bilinga, Burleigh Heads, Burleigh Waters, Casuarina, Coolangatta, Currumbin, Kingscliff, Kirra, Mermaid Beach, Mermaid Waters, Miami, Palm Beach, Tugun and Tweed Heads.
 
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Urbis Gold Coast 2015 Q4 Apartment Essentials report snapshot:
- The Gold Coast apartment market has experienced its highest level of activity in almost eight years.
- The Gold Coast’s new apartment market has witnessed six consecutive quarters of increased sales volumes.
- The Gold Coast recorded a total of 453 sales during Q4 2015 compared to 416 sales in Q3 2015 and 303 in Q4 2014.
- The weighted average sales price of apartments on the Gold Coast is $609,658 - increasing by $56,416 compared to Q3 2015.
- Based on surveyed data, the Coastal Fringe* remains the most affordable precinct on the Gold Coast to buy a new apartment with an average weighted sale price of $429,321.
- Based on surveyed data, the Southern Beaches* remains the highest priced precinct on the Gold Coast to buy a new apartment with an average weighted sale price of $905,102.
- The two-bed two-bath product remained the most popular across all precincts, equating to 65 per cent of total sales.
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Gold Coast apartment sales surge 80%: Urbis

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Toowoomba, Queensland’s largest inland city, is approaching the peak of the residential market.
But prices are not looking to soften as gentrification takes hold , according to HTW’s March property clock -- a simple broad brush means to indicate where property prices are and where they are going.
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As at the beginning of 2016, Toowoomba’s median house price remains affordable at approximately $370,000 and despite a noticeably softening market sentiment, sale prices have not yet shown signs of decline. 
However, it is apparent that the peak of the residential market has passed with agents reporting reduced investor enquiry. 
With current property climate in mind, investor interest cooling and upgrader enthusiasm easing, home owners are turning to regeneration and renovation. 
The key areas where this gentrification is most obviously taking hold is in the affordable suburbs of South Toowoomba, North Toowoomba, Mount Lofty and Newtown. 
The traditionally less sought after suburbs of Rockville and Harlaxton are slowly transitioning to gentrification hot spots due to their affordability.
At a higher price point, the style of dwelling common in East Toowoomba and scattered throughout established parts of Toowoomba, being older style early 1900s cottages, lend themselves to current renovation trends and modern extensions.
Not surprisingly, due to the steady trend of rejuvenation of this type of property, the median price in East Toowoomba is $445,000, significantly above that of the broader Toowoomba area.  
As for the medium to long term, while the peak of the Toowoomba residential property market has passed, these gentrifying areas look set to maintain current levels of demand and value, however as is expected across the entire Toowoomba region, some slowing in sales activity may occur. 
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As an example of the property market activity, Property Observer found a duplex at <a href="https://www.realestate.com.au/property-unit-qld-south+toowoomba-121421586" target="_blank">1 &amp; 2/126 Perth Street, South Toowoomba, Qld 4350</a> (above) was recently sold for $480,000 through Colliers International.
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Toowoomba near peak of market cycle, but prices not softening as gentrification takes hold: HTW

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The Gippsland region stretching from Melbourne's eastern outskirts to the state border in Victoria's far east was at the start of the recovery period in Herron Todd White's March property clock, which also offers a peak into gentrification.
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Sale/Traralgon
Sale rentals have hit some of the highest returns in years. With strong industries and the RAAF base this is expected to be maintained. 
Traralgon land prices in popular estates are at very affordable values compared to three to five years ago. This area has consistent housing construction at affordable prices. 
Warragul/Drouin 
Warragul and Drouin estates are growing with more land available and values increasing. Increasing demand in this location is due to its proximity to Melbourne. 
Koo Wee Rup/Lang Lang 
Koo Wee Rup and Lang Lang land values have increased in the past six to 12 months with construction demand strong and building prices very affordable. The reasons for the increasing demand include the area’s close proximity to Pakenham and being only 45 minutes to Melbourne.
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Property Observer found a three-bedroom unit with a garage at <a href="https://www.realestate.com.au/property-unit-vic-warragul-121611174" target="_blank">1/25 Henshall Street, Warragul, Vic 3820</a> (above) which was sold for $215,000 through Steadfast Real Estate.
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Gippsland's proximity to Melbourne helping land prices, but still affordable: HTW

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The number of residential vacancies nationally fell during February, recording a vacancy rate of 2.3 percent, and 70,161 vacancies, latest figures from SQM Research show. 
Year-on-year results demonstrate that national vacancies appear to be slightly above the common seasonal trends expected at this time of year.
Melbourne had the largest monthly fall, with vacancies falling 0.5 percentage points in February. Brisbane, Canberra, Sydney and Darwin also experienced monthly falls, with percentage points down 0.2 percent.
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Despite this, both Darwin and Perth continue to record an alarming number of vacancies, compared with this time last year (February 2015).
February results for Hobart reveal the tightest rental market recording a vacancy rate of just 0.9% based on just 239 vacancies, the data shows.
Asking rents
Perth has recorded ongoing falls in asking rents of 10.5% for houses and 9.1% for units over the past 12 months. Darwin also saw yearly falls, with asking rents down 10.3% for houses and 11.2% for units. Hobart continues to record the most affordable rental accommodation with rents for houses at just $337 a week, while units on average rent for $286 a week.
“Overall, there was a noticeable fall in vacancies for the month driven by Melbourne and Sydney. However, year on year vacancies are still edging up for the country and we think this will still be the trend going forward. The cities and townships most exposed to the commodities downturn are causing this yearly rise. On the flip side Melbourne, Hobart and Canberra are all recording downward trends in vacancies now and this is resulting in upward pressure in rents for these three cities,” said Louis Christopher, managing director of SQM Research.
The calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties. 
Key Points
* Nationally, vacancies fell during February 2016, recording a vacancy rate of 2.3%, based on 70,161 vacancies.
* Perth recorded the highest vacancy rate in February 2016 of 3.9% based on 7,819 vacancies.
* Vacancy rates in Sydney have fallen 0.1 percentage points over the last year.
* Year-on-year, vacancy rates dropped in Sydney, Canberra, Melbourne and Hobart.
* Hobart recorded the lowest vacancy rate during February 2016, with a rate of 0.9% based on 239 vacancies.
* Over the past 12 months, Perth asking rents have also experienced excessive yearly falls with houses down 10.5% and a 9.1% fall for units.
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Melbourne leads the fall in February residential vacancies: SQM Research 

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Queensland's Rockhampton is approaching the bottom of market according to HTW's property clock for March, which also predicts that 2016 won't be an easy year for the city and surrounding residential markets.
The valuation firm also discusses the impact of gentrification on the city. 
HTW's property clock is a simple broad brush means to suggest where property markets are and what direction prices are moving in.
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After a tough 2015, confidence still appears to be down, with many resource and associated service industries still dealing with tumbling commodity prices and a declining workforce.
The lower end of the market (sub $300,000) has experienced some of the worst declines in value across the region with a significant number of mortgagee sales recording drops in value from 20 to 40% against their previous sale prices which can generally be any where from one to eight years prior. The worst affected areas include Gracemere, Zilzie and older established suburbs of Rockhampton such as Depot Hill, Berserker and Park Avenue. 
This has largely been the result of a mass exit of investors leaving the market reliant upon first home owners and lower income buyers with substantial budget restraints. 2016 will be another tough year for the localities and as such they should be treated with caution however at the same time they may present opportunities should we reach the bottom of the property cycle, but as always this is something very dif cult to ag at the time. 
Better quality localities and properties where owner- occupiers are active in the medium price range ($300,000 to $500,000) appear to be holding their values. Suburbs include large areas of the Capricorn Coast, Norman Gardens, Frenchville and Wandal. Despite these areas holding well, it is unlikely that they will experience any substantial gains in value throughout 2016.
Medium to high-end properties above $500,000 have been also holding relatively well and include suburbs such as Rockyview, parts of Norman Gardens, and The Range.
In terms of gentrification, Rockhampton has been going through it since late 2005 when the first high-rise unit complex in over 30 years was completed along the river bank.  
Since then there have been an additional six high-rise unit complexes completed comprising a mix of permanent and short term accommodation and of late the addition of various restaurants and cafés in the Empire and Edge buildings which were both completed in the past five years. Victoria Parade and Quay Street have become the heart of the city and this is supported by Council’s recent announcements regarding the funding and approvals for the Rockhampton Revitalisation Concept Plan, which focuses on the Fitzroy River from Quay Street to William Street.
A set of new pathways, landscaping concepts, memorial and historical features are all incorporated into the project. Rockhampton has seen an increase in the number of small cafés and boutique shops with a noticeable increase in alfresco and street side dining areas. 
Within Rockhampton city itself there is a slow but gradual phasing out of old timber and fibro dwellings and replacement with more modern charismatic small and compact unit developments, often available for under $300,000. Given that the current economic climate is considered to be somewhat weak, this process may take some time however the diversity of the local economy is sure to keep the gentrification process ticking over.  
As an example of a sale, a three-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-qld-rockhampton+city-110897251" target="_blank">303/6 Victoria Parade Rockhampton City Qld 4700</a> went for $433,000.
 
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In summary, 2016 sees many challenges facing the Rockhampton market and values will be dependent on a range of factors including the mining/resource industry outlook, state and local council initiatives and on a positive note the local agricultural industry, particularly beef is experiencing record cattle prices which are forecast to continue and will no doubt act as a positive indicator for the region. 
 
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Rocky year ahead for Rockhampton: HTW

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The first sod was turned by City of Sydney Lord Mayor Clover Moore and Crown Group CEO Iwan Sunito in the construction of a $575-million tower project named Infinity in Sydney's Green Square on Thursday.
The 20-storey design was named winner of the 2014 Urban Development Institute of Australia (UDIA) NSW Concept Design award. 
The tower on the corner of Bourke and Botany Roads, part of the council's $8-billion Green Square redevelopment precinct, will have direct underground access to Green Square train station.
Designed by Koichi Takada Architects, the mixed-use project features a 1180-sqm open-air plaza with gardens and surrounded by retail outlets, restaurants and cafés.
Crown Group Holdings was co-founded by architect Iwan Sunito and engineer Paul Sathio in 1996. 
Sunito was also named Urban Taskforce Australia’s 2015 Property Person of the Year.
"We've been inundated with buyers," Crown Group chief executive Iwan Sunito said on its sales' day last August. 
The total value of the off the plan apartments sold had reached $350 million by 3pm Saturday.
"We released 326 apartments and 105 apartments sold in the first hour. 
"It's great to see so many people proud and excited to own their own piece of Infinity by Crown Group." 
Some 60 percent of the buyers were investors and the rest owner-occupiers, the Australian Financial Review noted, with exchange e-contracts on an iPad for one-bedroom units to penthouses priced from $650,000 to $3.5 million. 
Lord Mayor Clover Moore said Infinity by Crown Group was emblematic of what the city hoped to achieve at Green Square, one of the most significant urban renewal projects in Australia.    “When completed, Infinity will be home to hundreds of new residents, its eateries and retail outlets will facilitate new jobs, while a new conference facility in the building will attract new events to Green Square," he said.    “Throughout history, cities have attracted the best and the brightest and in an era with increasing competition between cities in our region, developments like Infinity and the Green Square renewal will make sure Sydney continues to do just that.”   Sunito said he envisaged Infinity would become a residential and retail hub. “Infinity by Crown Group will set a new benchmark in city living and architecture,” he added.
“Infinity by Crown Group has been an exceptional project from the start – from the first stages of development and design selection through to the most successful sales launch in Crown Group’s history.” The City of Sydney has committed $540 million over the next 10 years to build facilities and infrastructure in Green Square including a library, a civic plaza, a new park and playing fields, an aquatic leisure centre and a new childcare centre; part of an $8-billion redevelopment of the 278-hectare Green Square precinct.   Green Square is forecast to have a population of 61 000 people by 2030 and provide 21,000 new permanent jobs by 2030. 
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Lord Mayor turns first sod at Infinity, Crown Group's Green Square tower

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Billionaire developer Lang Walker's $2 billion-plus Collins Square project in Melbourne, comprising six commercial towers and the Southern Goods Shed, could be sold off separately rather than as a portfolio, according to media reports.
Collins Square is aimed to be Australia’s second largest commercial mixed use development, totalling 250,000 sqm, built above a 10,000 sqm retail podium, according to Walker's website. 
While a portfolio acquisition – potentially by a club of buyers – would be the cleanest arrangement, the sale process was opened up recently to allow a piecemeal sell-down of assets, the Australian Financial Review reported, citing market sources.
First-round offers on the Melbourne development are due on Friday, after a one-month extension on the sale process for the divestment plan unveiled late last year. Walker is being advised by UBS.
There are more than 25 potential bidders in the fray for the portfolio, comprising local investors, offshore pension funds and sovereign wealth funds, the AFR said.
The broader break-up strategy also means a wider field of potential buyers, that would include local and offshore buyers. 
As well as from Australia, interest has come from Singapore, Hong Kong, the US and Canada.
Two of the five towers in the portfolio are complete and fully tenanted. Two more are due to be completed by the middle of this year and the fifth tower in 2017.  
Several blue-chip tenants are already committed, including Marsh Mercer, Transurban, KPMG, Commonwealth Bank of Australia, Penguin Random House and Pearson, Maddocks, Link Group, Mott MacDonald and AECOM.
The portfolio could fetch more than $2 billion, on a cap rate of between 5 per cent and 5.5 per cent, comparing in scale to last year's sale of the Investa Property Trust portfolio for close to $2.5 billion to China Investment Corporation. 
UBS is expected to take at least another six weeks to sort through the second round of bids, the AFR said.
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Lang Walker's Collins Square towers sale process extended, could be sold separately

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Staying ahead of the gentrification curve can prove profitable to investors, say HTW as it reports the NSW North Coast progressing from a rising market in February to approaching the peak in March, according to the latest HTW property clock.
Lismore / Casino / Kyogle
The council areas of Lismore City, Richmond Valley and Kyogle generally do not have specific areas which are undergoing gentrification or a metamorphosis from an ugly duckling to a knockout swan.
<a href="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" target="_blank">Click to enlarge</a>
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One possible market segment that benefits from improved appeal are those areas which over an extended period of time have transferred from public or government ownership to private ownership, such as Department of Housing properties. Generally, once such properties have come under private ownership they are renovated and subsequently rented as an investment product. As an example, most of the houses in the former Department of Housing estate on the northern ridge of Lismore Heights are now under private ownership. 
Another form of gentrification, albeit currently at a minor scale, is the identification of residential properties on traditionally quarter acre sites (1,012 square metres) close to the CBD being further improved by subdividing the land (minimum 400 square metres) or improving the property as a dual occupancy by building an additional dwelling or granny flat.
In these regional areas, any form of gentrification is only beneficial if the expected costs are more than accounted for or outweighed by the improvement in market value as an investment product. Therefore, thorough investigation and identification of the key cost factors would be crucial to success.
The ongoing low level official interest rates will continue to have a steadying impact on the overall residential market throughout 2016.
One area to keep a close eye on for 2016 is the affordable but modern detached duplex unit. Having a smaller foot print area, i.e. strata site, compared to the modern four-bedroom, two-bathroom, double garage home on typical freehold site of 650 square metres plus, not much is really sacrificed. 
The detached duplex design can vary like any other freestanding residence and still possess a similar number of rooms and garaging on a smaller site and smaller open space by employing split level, part two-level or two-storey designs. More and more people are starting to realise that a large backyard is not a necessity for young couples or mature aged couples with no children or pets.
The prices are generally lower than their larger counterparts and yet still provide good quality improvements and living accommodation. It is now commonplace to note that most corner sites in new residential subdivisions are specifically targeted for this type of development. Even within existing residential areas, some property investors are actively seeking out larger residential properties close to the CBD, i.e. houses on corner quarter acre blocks (1,012 square metres) to carry out dual occupancy development of the existing residence rather than starting from scratch with freshly developed parcels of land in a new estate.
Generally, properties within the $250,000 to $350,000 price bracket are likely to be the main price brackets receiving most of the activity within Lismore City for 2016, whereas it would be slightly lower in Casino and Kyogle at $200,000 to $300,000. However, there is an increasing supply of modern and semi-modern homes in the $400,000 plus bracket for Lismore City, thanks in part to the development of the modern residential estates dotted within Goonellabah.
The most affordable property type will continue to be the older stock of the typical circa 1970s and 1980s, two-bedroom brick and tile units of which little have sold in 2015. This is likely to continue throughout 2016, however at affordable price levels of $125,000 to $175,000 (depending on whether renovated or not) and still generating a reasonable rent return in areas close to the CBD and major educational facilities such as Southern Cross University. Good buying opportunities may present themselves providing the body corporate fees are kept in check and to a minimum.
One area of caution is the traditional 100 acre hobby farm or rural lifestyle block in semi-remote to remote localities. With the possible threat of increasing costs to maintain such properties and distance from the main centres, their popularity is continuing to fade. Already at the extreme end of the scale there is a significant fall (up to 50% in some cases) in market value for timbered, remote parcels of 100 acre lots with limited or no services over the past three to five years.
In summary, HTW expect the residential property market for Lismore, Richmond Valley and Kyogle Council areas for 2016 will continue with some assurance of stability. While unlikely to see major growth, quiet confidence should remain while couched in the hope that a low interest rate environment remains, even if there are modest rises in the banks’ rates.  
Ballina / Lennox Head / Byron Bay / Mullumbimby / Ocean Shores
The 2016 year within the Ballina residential property market could go two different ways. The strong demand and quick turnover of 2015 may continue or it could slow down around the middle of the year. 
Interest rates are still low which is one of the driving factors of first home buyers and investors. If market conditions begin to slow with interest rate increases and a slowing Australian economy, we could possibly see a slump. This could force investors to sell, which in turn would increase stock levels. However, with the new Pacific Motorway recently completed between Tintenbar and Ewingsdale, we could see a trend of Queensland buyers coming down into the Far North Coast and in particular the Ballina region.
If overall economic conditions remain unchanged, the overall market in 2016 will remain steady for the Far North Coast.
The most noted area of gentrification within the coastal localities is the ongoing development of the Ferngrove and River Oaks estates in Ballina.
The previous local stigma associated with these subdivisions due to a combination of the landfill requirements and difficulties in the land market have finally subsided. Land values are increasing in each new stage release and demand remains strong. The once swampland is now turning into a well established modern looking estate. The young (first home owners) and older (retirees) are building on the manageable, some would say, small parcels of land. Residents of these estates cannot complain about potholes or having nowhere to take the kids. New smooth bitumen roads and ample amounts of safe pathways and parks with children’s play equipment also add to the increased market acceptance and gentrification of this precinct within Ballina. 
The property markets in Sydney and Melbourne reportedly slowed in the later part of 2015 which in turn will see the coastal resort towns of Byron Bay and Lennox Head remain steady and possibly ease towards the middle of the year (there is generally a lag). 
As these towns are generally driven by interstate lifestyle changers, the market conditions upwards of $1 million will be the first indicator that the market has eased.
The lack of stock and strong demand have resulted in the Byron Bay area having tremendous growth over the past 18 months, however economic forecasters and global uncertainty will have an impact.
The lower level or entry points circa $400,000 to $700,000 will remain steady and fare better than the prestige market due to the lack of housing and strong rental returns. Investors will still see opportunity in this price bracket. 
<img src="/images/2016/03/16/main.jpg" alt="">
Examples of recent sales include a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-ballina-119709471">1/2 Marge Porter Place Ballina NSW 2478</a> (above) for $310,000 recently, while a three-bedroom townhouse at <a href="https://www.realestate.com.au/property-house-nsw-byron+bay-121889094">8/2 Cemetery Road Byron Bay NSW 2481</a> (below) sold for $585,000.
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Byron Bay shows most promise in North Coast price growth: HTW

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The willingness of more than 4,500 mum-and-dad investors to commit more than $70 million to acquire a stake in the iconic S. Kidman &amp; Co pastoral holding is proof of the retail appetite for investment in agricultural assets.
Arthur Naoumidis, chief executive officer of property crowd-funding company DomaCom, said in the group’s submission to the inquiry into the foreign investment review framework by the Senate Economics References Committee that this was the only conclusion that could be drawn from the public interest in Kidman, and that should be encouraged.
He said the widespread interest in Kidman has been spawned by two inter-related themes: the public’s desire not to see rural property (as distinct from rural businesses) sold overseas and the realisation that it was a good defensive asset suited to most investment portfolios. 
Barnaby Joyce, the Federal Agriculture Minister, had last year called for a veto on foreign governments being allowed to buy Australian farmland. The comments followed as the Kidman cattle empire is for sale. 
“Although the value of agricultural land fluctuates in line with the highs and lows of climatic changes, such as drought, it attracts reasonable yields and enjoys capital gain," said Naoumidis.
“In our opinion, domestic investment into agricultural assets has the potential to be a significant game changer in the rural sector as the replacement of debt with long-term investment equity not only provides stability to rural enterprises but can substantially reduce the debt servicing load for the operating business."
Naoumidis listed several benefits, such as more robust business structures by a reduction of debt servicing, the ability to reinvest by the operator into operating assets such as cattle, feed expansion, equipment for improvement, thus enhancing the outcome of greater revenue to increase equity or for expansion.
“Business is increasingly looking to rural land, just as foreign interests are, and we should be encouraging our $2.1 trillion superannuation industry (including the SMSF sector) to increase their exposure to a 2.5% asset allocation from the current 0.3%”.
“Investment in our agricultural sector will encourage young people to stay on the land, particularly if equity capital can be crowdfunded through investment channels to give relief in the often never-ending cycle of debt that many on the land face while trying to increase productivity.
“Co-investment instead of debt leads to equity-based succession planning that is more attractive to next generation of owners and would encourage many young people to stay on the land.”
Naoumidis said there seemed to be disconnect between Australian fund managers and their overseas counterparts who clearly see a benefit in the agricultural industry.
DomaCom Australia Limited helps SMSFs acquire property through the fractional acquisition of units in a unique trust structure that enables investors to choose the property they want, it says.
It says the government must encourage more domestic investment, in spite of some failures over recent years in the agri sector, mainly because they were tax-driven schemes without the backing of solid assets such as the land. They were also heavily geared.
 
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4,500 mum-and-dad investors commit more than $70 million for stake in S. Kidman & Co 

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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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