<html><body>
Our tweet of the day comes from Consumer Affairs Victoria, who explains that when buying by private sale you can actually make reports a condition of the contract.
There's a video too.
<blockquote class="twitter-tweet">
When buying <a target="_blank" href="https://twitter.com/search?q=%23property&amp;src=hash">#property</a> by private sale, you can make inspection reports a condition of the contract. More: <a target="_blank" href="https://t.co/lvMtEaENfr">https://t.co/lvMtEaENfr</a> <a href="https://twitter.com/search?q=%23MelbRE&amp;src=hash">#MelbRE</a>
— Consumer Affairs Vic (@consumervic) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/consumervic/statuses/385909965195468800">October 3, 2013</a>
</blockquote>
</body></html>

po-LsXgBTHBmX

Building and pest inspections as a condition

<html><body>
We've been reading about it for the last few weeks, and some of us have been talking about it for years: The Property Bubble.
We asked some of the country's top economists and commentators in the property space to share their thoughts exclusively with Property Observer.
They were each asked:
Do you think there is a property bubble in Australia? Why/Why not?
Here, we share their responses to this question.
We also invite other spokespeople, and readers, to have their say.
Yesterday we polled our readers to find out their views on the question; the results are below. It's fairly clear most of you believe there is a housing bubble or one coming soon.
<img src="/images/stories/2013/10/04/poll-results-oct-4.jpg" width="470" height="258" alt="poll-results-oct-4">
Email <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a> if you have an opinion that you think hasn't yet been shared.
Here are our experts' opinions.
 
Shane Oliver – Head of investment strategy and chief economist, AMP Capital<img src="/images/stories/2013/10/04/shane-oliver-profile.jpg" width="125" height="150" alt="shane-oliver-profile" style="float: right;">
NO BUBBLE YET, BUT RISKS HAVE INCREASED
What a difference a year makes! A year ago the big concern was that interest rate cuts won't work to boost the economy with some predicting a house price crash. Now it’s the other extreme with worries of a bubble. To be sure the risks of the housing market becoming a bubble have increased: mortgage rates are around record lows, house prices are picking up and buyer confidence has returned.  
However, just because house prices are rising at above average rates doesn't mean it’s a bubble any more than the falling prices over the 2010 to 2012 period means a property crash. Some aspects of a bubble certainly exist, in particular Australian house price to rent and house price to income ratios are well above long term average and well above global average levels. But this has been the case for more than a decade.
Other aspects that would normally be expected in a bubble are not yet present: house prices have only just risen above 2010 levels and have only been rising for a year, whereas housing bubbles normally see years of gains; housing credit growth is still around record lows at 4.7% year on year whereas during the bubble years last decade it was in the double digits; and I don't see the sort of speculative fever that normally goes with bubbles although we may be starting to get there given the media coverage.  
Finally, rising unemployment will likely be a constraint.  
So while the risks of the housing market becoming a bubble have increased I doubt we are there yet - one year of average home price gains of 5.5% certainly does not qualify - and there is a good chance we will avoid one in the year or so ahead. To be honest I rather hope we do, because bubbles bring the risk of official measures to pop them and by definition run the risk of ending with a crash.  
 
Steve Keen – Professor of economics and finance, University of Western Sydney<img src="/images/stories/2013/10/04/Steve-keen-profile.jpg" width="125" height="150" alt="Steve-keen-profile" style="float: right;">
BUBBLE HAS BEEN HERE FOR A WHILE
 
Yes there's a bubble--or rather that the bubble that began to burst back in 2012 has been given a new lease of life by falling mortgage rates, and the rise of two new classes of buyers, both of which should have been limited by public policy but have instead been promoted by it: wealthy Chinese buyers hedging their political and environmental bets by buying property on Australia, and self-managed superannuation funds who are now allowed to call a levered bet on property an investment.  
No sane country allows 50% of its new properties to be bought by non-residents: the rational limit applied by many European countries is 10%. Our policy is doubly insane given our geographic location and size, since there are certainly more Chinese millionaires than there are Australians.  
And superannuation funds should be allowed to buy properties for the income stream, but with no leverage. The leverage and seeking capital gain turns this from an investment to a speculation, and the leverage itself drives up the prices and causes the desired capital gain.  
These two additional forces drive out first home buyers, making for disastrous social policy. But it seems appeasing baby boomers with ever rising house prices matters more to both parties than affordable housing.  
The flies in the ointment for this bubble are (1) that Australians haven't deleveraged after the GFC, as Americans did. US mortgage debt has fallen from 86% of GDP to 68%, we have flatlined at about 88%. So any interest rate rise--and I think the RBA will be forced into them soon given this bubble (that they could have prevented with LVR controls as in New Zealand)--will crucify demand from upgrades and even investors; and (2) that the buyers are far more investors now than upgraders. They are utterly dependent on Chinese and superannuation demand to make a profit, because they can't all get rich selling second hand houses to each other.  
So I stick with seeing this as a suckers rally, but one aided and abetted by a compromised political class.  
 
<hr class="system-pagebreak">
Tim Lawless - National research director, RP Data
<img src="/images/stories/2013/10/04/TimLawless-profile.jpg" width="125" height="150" alt="TimLawless-profile" style="float: right;">
NO BUBBLE YET, BUT WE NEED TO TALK ABOUT IT
 
The first thing to point out is no I don't think there is a property bubble but the debate it worth having. We’ve seen values up by 3.7% over the quarter and since it bottomed out last year, it's great to see a growth cycle and at the beginning of a cycle you see strong rates of growth. But these rates of growth are not as strong as we have seen in previous cycle starts. In saying that, I think the debate is more focused on two key markets - Sydney and Melbourne, which is dragging the capital cities up.  
Our index is a weighted index and so these cities have heavier weighting as they have more stock. Brisbane was actually down in September and over the past decade; values have only risen in Brisbane by 4% per annum.  
Look back to 2007 and Brisbane arguably overshot the mark, which is why it's largely subdued now as it's feeling the pain from a strong run of growth in 2007.
As capital gains outpace rental growth the impact on yields naturally dampens investor exuberance.  
Melbourne yields on a house are 3.5%. As yields become eroded and there’s more speculation about these markets overheating, we’ll see investors move to other markets. Brisbane is the obvious candidate as dwelling values are substantially lower, yields are much higher and the fundamentals are relatively strong. I think Brisbane will be a natural flow-on point.
Perth and Darwin have been standouts until six months ago, and now they’re hitting the breaks. It’s explainable by the slowdown of the mining sector and some of the slowdowns and cancellations of projects we’re seeing. It stands to reason that as labour markets slow so does the housing market, as the two are intertwined.  
Generally when you talk about a bubble you're talking about a strong unsustainable ramp up that will be followed by a correction. Over the past quarter the growth rate is high and warrants this sort of discussion. They should be watched with scrutiny if we see the growth continue into 2014, but I don’t think we’re in a bubble yet. However, this conversation is healthy to have.  
Even though the Reserve Bank and APRA haven't been overt in their actions I think it's guaranteed their over the table discussions would be deliberate with the financial sector to ensure lending standards are maintained.  
 
Saul Eslake - Chief economist Australia and New Zealand, Bank of America Merrill Lynch<img src="/images/stories/2013/10/04/saul-eslake-profile-2.jpg" width="125" height="150" alt="saul-eslake-profile-2" style="float: right;">
NO BUBBLE YET, PUT POTENTIAL RISKS
 
At this stage I don't think it is accurate to characterise Australia's property market as a 'bubble'. It's certainly true that Australian property prices have begun to rise again, spurred by very low interest rates and by the interaction between strong growth in 'underlying' demand and unresponsive supply. And it's also true that the current rise is occurring from a very high base, both by historical and by international standards. So far, however, the current upswing in property prices doesn't seem to be being driven by rapid growth in debt, which is another key hallmark of a 'bubble'.
After rising very rapidly between 1992 and 2005, household debt has been fairly stable as a proportion of household disposable income since 2006. And over the past year, during which property prices have risen by an average of 5.3%, the total stock of housing debt outstanding has risen by only 4.7%, close to historical lows.
However, if interest rates remain at very low levels for an extended period (or fall further), it is quite conceivable that the Australian property market could take on 'bubble'-like characteristics, with people borrowing in order to buy property purely in expectation of reaping capital gains.  
One worrying feature of the current upturn in the property market is that it is being driven to a greater than usual extent by investors, who, to a much greater extent than owner-occupiers, typically buy established properties rather than new ones. If that remains the case as the upturn continues, it will do more to boost prices and less to induce new construction than either the Reserve Bank wants, or the country needs - increasing the chance of an abrupt correction when interest rates start rising again - which they will do sooner rather than later if property prices and mortgage debt start to rise at rapid rates.
Ideally, the federal government would reform the taxation system so as to reduce the extent to which it inflates speculative demand for housing, while state and local governments would reform their tax systems and their planning policies so as to make it easier to boost the supply of housing. But history argues against expecting much on either score.  
 
<hr class="system-pagebreak">
Louis Christopher – Owner, SQM Research<img src="/images/stories/2013/10/04/Louis-Christopher-profile.jpg" width="125" height="150" alt="Louis-Christopher-profile" style="float: right;">
NO BUBBLE, RECOVERY SET TO ACCELERATE
Typically, a bubble is characterised by explosive rises in prices (typically double digit annualised price rises) which occurs across the most of the sector or economy. At this point in time national house prices are only recording modest to moderate capital growth rates (at about 6% annualised) with one city (Canberra) actually recording price falls. There are only two cities recording above average price growth, that being Sydney and Perth.
To call it a national housing bubble, we would need to at least see Melbourne and Brisbane also record double digit capital growth. That just simply isn’t happening right now and is not likely to happen given those market are currently well supplied.  
However, we do envision a situation that dwelling price growth rates will accelerate to a point later next year, where it may become a little uncomfortable for the RBA and, at that point, they may wish to tap on the brakes and lift interest rates to slow the pace down a little. That maybe a difficult proposition for the bank, especially if the economy itself is recording below average GDP growth rates and especially if most of the national lift in dwelling prices is really just coming from a heated Sydney market.  But even if that is the case, it still may not be classified as a 'bubble'. But rather a very manageable situation that can be nipped with just a tap of the interest rate brakes.  
So, is the Sydney market in a bubble? Sydney itself was actually overdue for a large lift in prices. The local market has largely underperformed compared to other capital cities over the past 10 years in what was really a consolidation period from a rather frothy market back in 2003; a point in time when the Sydney market was indeed extremely overvalued.
In terms of the valuation metrics we consider, even with the price rises we have had to date and SQM’s rather bullish forecast for next year taken into account, Sydney would still not be at those hefty highs recorded ten years ago. There are also some firm fundamentals driving the market; namely being a genuine shortage of accommodation, an improving state economy which has kept unemployment below the national average; a strong population growth rate. That is not to say the market won’t get into overvalued territory in this cycle; it will. But just not right now.  
So, in our firm conviction there is no property bubble at present in the Australian housing market. End of story. Before blindly following those who make such warnings, perhaps do some research on their previous calls. I can tell you now; it’s not a pretty picture.  
If there was a current property bubble right now, you would hear it from us first. Our track record speaks for itself. We are on public record as forecasting the downturn of 2010 to 2012. And we are on public record for predicting the recovery of 2013. And now in recent weeks have been on public record as being picking that this recovery will accelerate into 2014. We are the only analysts out there with this type of record and it is done without a conflict of interest or deliberate hysteria.  
 
Andrew Wilson – Senior economist, Australian Property Monitors<img src="/images/stories/2013/10/04/AndrewWilson-profile.jpg" width="125" height="150" alt="AndrewWilson-profile" style="float: right;">
NO BUBBLE AND NO CRAZY BOOM
 
So here we go again. The housing market bubble bandwagon is up and running – but this time it’s a crazy boom not a scary bust that is being predicted by some for the Sydney housing market next year.  
The reality more likely is that the Sydney housing market is about as close to a boom next year as it was to the bust that was widely predicted for last year.  
Low interest rates, rising confidence and a surge in investor activity are the current drivers of the Sydney housing market together with a solid performance by the local economy.
But the underlying drivers remain problematic for sustained high levels of house price growth next year. Sydney’s unemployment rate is now rising towards 6% and predicted to continue to rise. Wages and profit growth remain subdued in a low inflation economy with a stagnant stockmarket continuing to constrain growth in the prestige market. The prospect of sharply falling rental yields will also prove a disincentive for new investors.  
Prices growth in Sydney is likely to peak over the next six months with continued solid growth dependant on a sustained revival in the economy and unemployment falling to or below 5%.  
For the record, Sydney’s highest annual house price growth over the past 20 years was in 2002 at 22.2%. Next best was 2001 at 17.4%.  
If, as has been heroically suggested by some, Sydney house prices were to rise by 20% next year that would bring the median price to nearly $900,000. Enough said.  
 
<hr class="system-pagebreak">
Harley Dale - Chief economist, Housing Industry Association<img src="/images/stories/2013/10/04/harley-dale-profile.jpg" width="125" height="150" alt="harley-dale-profile" style="float: right;">
NO HOUSING BUBBLE, WE'RE IN A RECOVERY
 
Australia does not have a housing bubble, but rather a recovery in some dwelling price markets. Nationally, dwelling prices are no higher in real terms than back in late 2007. Dwelling prices are still declining in three capital city markets and in non-metro Australia, and are barely growing faster than the rate of inflation in a further two cities.
Not quite ‘speculative fervour’! Australia does not have high levels of new home building – we are constructing fewer homes than a decade ago. We do not have an extremely high level of transactions occurring as investment properties change hands in rapid fashion – transactions volumes are recovering but are still below historical averages.  
Median dwelling prices are growing strongly in Sydney, Perth, and to a lesser extent Melbourne. Sydney is receiving much attention, but prices there were the worst performing of any capital city market over a decade. A ‘first stage’ recovery in new home construction is underway in both Sydney and Perth and it is crucial that further growth occurs in 2014 and 2015.
A sustainable lift in the supply of new dwellings and how that can be assured is where the focus needs to reside, not a preoccupation with a fictitious bubble. The latter focus harms the prospects of a sustainable, broad-based new home building recovery emerging at the very time when that is one of the key outcomes the Australian economy requires.  
 
Whose opinion would you like to have added to the list? 
Email <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a> and we’ll consider getting their viewpoint.
 
 
</body></html>

Is there a property bubble? The experts have their say

<html><body>
As the front covers of property investment magazines attest, many younger investors have done well by choosing to invest in the property market.
McGrath Real Estate boss John McGrath advises that provided you can afford it, you should get involved in property at a young age.
According to McGrath, over the long term property is a very “safe and stable asset class that will become your most valuable financial investment for the future.”
While it is the most expensive asset class, he says there are capital gains exemption on family homes and negative gearing on investments that can lighten the load.
Other reasons to consider investing now include very low interest rates and improved housing affordability.
There is also the opportunity to be a renter-investor– rent in a desirable area close to the city, shops and nightlife and buy a more affordable investment property further out of the city.
Young investors could also consider buying with friends or family.
<hr>
This article is fromProperty Observer's free ebook <a href="/guides/free-ebook-top-10-property-investment-tips">Top 10 Property Investment Tips</a>
</body></html>

You are never too young to start investing

<html><body>
Our tweet of the day, from The Global Mail, has a slightly more sombre feel than usual. Discussing Hong Kong, they tweeted out their article<a target="_blank" href="https://www.theglobalmail.org/feature/from-mansions-to-cages-to-coffins-hong-kongs-rotten-property-ladder/626/"> 'From Mansions, To Cages, To Coffins - Hong Kong's Rotten Property Ladder'</a>.
<blockquote class="twitter-tweet">
Is your commute home cramped? Try living in a coffin. <a target="_blank" href="https://t.co/FqG4pDoYZK">https://t.co/FqG4pDoYZK</a> <a href="https://t.co/Ra02J7pJls">pic.twitter.com/Ra02J7pJls</a>
— The Global Mail (@TheGlobalMail) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/TheGlobalMail/statuses/385304101086437376">October 2, 2013</a>
</blockquote>
It's worth remembering what happens when the divide becomes too much. Here, we see some graphic images and living conditions of those in Hong Kong. Hong Kong has the highest per capita rate of millionaires in the world and also one of the highest income disparities, and high rents and property prices are not helping.
One resident living in a space the size of a coffin, 1.68 by 0.76 metres, pays US$190 a month for the privilege. Often there are up to 30 of these in a room, The Global Mail reports.
A worthwhile read.
</body></html>

Unscrupulous landlords profit from income gap

<html><body>
There has been a lot of coverage lately about whether there's a housing bubble or not, and so we're asking Property Observer readers to weigh in with their thoughts.
 
<img alt="poll-results-oct-4" height="258" width="470" src="/images/stories/2013/10/04/poll-results-oct-4.jpg">Tomorrow, we'll bring you some coverage of what the experts perspectives are around this debate.
Feel free to email in your thoughts to <a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
</body></html>

Do you think there is a housing bubble in Australia?

<html><body>
Deborah West of SydneySlice Executive Rentals shares her top tips for investment property owners:
Get landlord insurance: Landlord Insurance provides a range of protections that are not covered by standard home buildings and contents insurance.
Depreciation: Investors are often unaware of the tax deductions available through property depreciation. Negative Gearing: Make sure you claim all expenses, for example if you are living overseas you maybe can claim the cost of an airfare to inspect your property.
Review rent annually: Increase your rent by small amounts annually depending on the market.  Small increases every year ensures your tenants don’t get a big shock and leave.  Also means they get used to the increase annually. 
Time lease ends: Time lease end dates to be at times in the year when there is the most demand.  Usually around September-November or February-April. Try to avoid a your Lease ending in December or early January.
Maintenance: Regular maintenance will add value to your investment and ensure you get top rent.
Review your loan: Make sure you are getting the best interest rate.
Consider pets: If you can allow pets in your property some pet owners will be happy to pay a premium for this benefit. Just make sure you have pet clauses included in your lease.
 
<hr>
 Deborah West is joint principal and founder of <a href="https://www.sydneyslice.com/" target="_blank">SydneySlice</a> and a licensed estate agent.
 
</body></html>

Top tips for investment property owners

<html><body>
If you are buying off-the-plan, it is vital that you research the background of the developer and their track record.
Have there been court actions against the developer?
Do they have a history of delivering what has been promised and settling disputes quickly and neatly?
“Banks are strict on who they lend to. Banks also look for a good track record before handing over construction finance,” says Tim Rees, director of CBRE Residential Projects.
The internet is a good tool for research and look for blogs and newspaper articles. Do not judge a developer solely by its website and ensure there is an office where you can meet people face to face.
Also talk to friends, family, work colleagues or any people you know who have bought homes in previous developments off-the-plan.
Bad feedback about a vendor should ring alarm bells, while good reports are certainly worth remembering.
</body></html>

Buy off-the-plan from a reputable developer

<html><body>
Observer Catherine Cashmore's <a target="_blank" href="/news">article on Property Observer on Monday</a> about the unpleasant consequences to expect from the housing boom was tweeted out on our official @propertyobs account.
After this, both Cashmore and Brad Caldwell-Eyles, a real estate agent and principal of 1st City-Hasemer+Caldwell, had a twitter discussion about negative gearing.
<img alt="tweet-pof-the-day-oct-2-two" height="505" width="470" src="/images/stories/2013/10/02/tweet-pof-the-day-oct-2-two.jpg">
<blockquote class="twitter-tweet">
<a target="_blank" href="https://twitter.com/bradceyles">@bradceyles</a> A failed policy if ever there was one-ties up existing housing-tightens vacancy rates-pushes up house prices-stagnates supply
— C Cashmore (@CCASHMORE_BUYER) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/CCASHMORE_BUYER/statuses/384888111689244672">October 1, 2013</a>
</blockquote>
An interesting discussion that calls to attention the divide in opinion about housing affordability, the social role of property, and the wants and requirements of investors. 
You can also read Brad Caldwell-Eyles' article on the <a href="https://www.propertyobserver.com.au/residential/truth-v-myth-the-must-know-facts-about-buying-company-title-brad-caldwell-eyles/2013100165310?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=ourobservers:adviceandanalysisforreaders" target="_blank">must know facts about buying company title</a>.
</body></html>

The negative gearing argument

<html><body>
Future developments and infrastructure plans for a suburb can enhance values, but they can also reduce them.
If there are a large number of apartment projects being sold off-the plan and due to be built or completed in the next few years where you are considering investing, this could severely impact on the value of your investment property.
As WBP Property Group chief executive Greville Pabst says, scarcity creates value. Equally, values could rise in a well-located development once other projects are completed and create the impression of a cohesive suburb, rather than just a collection of marked out residential lots.
Plans for new roads, train and bus stations, a new shopping mall and cafes can enhance the appeal of a suburb and push up values.
However, as can be seen with the release of plans for the East West Link in Melbourne, they can also potentially reduce values if they impact on the qualities that make a suburb desirable, such as being quiet or close to a park.
<hr>
This article is fromProperty Observer's free ebook <a href="/guides/free-ebook-top-10-property-investment-tips">Top 10 Property Investment Tips</a>
</body></html>

Consider future developments, infrastructure plans for the location and take a long term investment view

<html><body>
Our tweet of the day comes from @Aussie who are providing some great DIY tips on their blog for how you can do-up the front yard of your property.
<blockquote class="twitter-tweet">
Spring clean your front yard with some easy DIY landscaping ideas! <a target="_blank" href="https://t.co/1ixQBR1wGG">https://t.co/1ixQBR1wGG</a> <a href="https://twitter.com/search?q=%23DIY&amp;src=hash">#DIY</a> <a target="_blank" href="https://twitter.com/search?q=%23gardening&amp;src=hash">#gardening</a> <a target="_blank" href="https://twitter.com/search?q=%23landscaping&amp;src=hash">#landscaping</a> <a target="_blank" href="https://twitter.com/search?q=%23homeimprovement&amp;src=hash">#homeimprovement</a>
— Aussie (@Aussie) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/Aussie/statuses/384830707706888192">October 1, 2013</a>
</blockquote>
We especially love this tip about mailboxes.
"Mailbox: if your mailbox has seen better days it might be time for a replacement. Basic mailboxes are fairly inexpensive but if you want to bring life to your old mailbox a lick of paint and maybe even some new street number signage will make your postman smile," their blog notes.
It can be a cheap fix up, along with those street numbers which you can pick up at Bunnings for a minimal outlay, that could just make your property sparkle a little bit more.
For every renovator, you need to be thinking - minimal outlay for maximum return. And remember, first impressions do count when it comes to property.
</body></html>

Quick front yard fixes

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

<main data-perf-region="main">
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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

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>.

Property Observer

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News