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Hosted by Andrew “Mirror” McCombe and Shaun “Fade” Fay – Golf Getaway reviews golf courses, resorts, tournaments, equipment and technology – and property too.
Golf Getaway's Mirror and Fade are reviewing living on a golf course at beautiful Sanctuary Cove Resort in this episode.
Golf Getaway airs on Sundays at 1pm on One.
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Golf Getaway explores Sanctuary Cove Resort

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New research on the US suggests high rates of home ownership are associated with high rates of unemployment over the long term. It’s getting a lot of profile but is it convincing?
There’s no end of awful things that researchers have pinned on suburban sprawl. Now there’s <a target="_blank" href="https://www.nytimes.com/2013/05/10/business/homeownership-may-actually-cause-unemployment?nl=todaysheadlines&amp;emc=edit_th_20130510&amp;_r=3&amp;">new research</a> that finds high rates of home ownership – which tends to be a suburban phenomenon in the US – are associated with high levels of unemployment.
The paper, <a target="_blank" href="https://www.piie.com/publications/wp/wp13-3.pdf">Does high home-ownership impair the labor market</a>, is written by economists David Blanchflower and Andrew Oswald. They compared the long run change in home ownership rates in the US at state level with the long run change in unemployment rates.
They looked at the period 1950-2010 and found “a doubling of the rate of home-ownership in a US state is followed in the long-run by more than a doubling of the later unemployment rate”. That’s not because home owners themselves are disproportionately unemployed – they aren’t.
Rather, they say, it’s because rises in home-ownership impose negative externalities on the labour market through (i) lower levels of labour mobility, (ii) longer commuting times, and (iii) fewer new businesses.
As I interpret it, they’re reasoning is that home owners tend to move address less frequently than renters. Rather than move closer to new jobs and schools, they consequently commute further. That exacerbates traffic congestion, which makes local business less productive.
Owners also have a bigger stake in protecting the amenity of their neighbourhood than renters. They’re therefore more likely to oppose new businesses setting up, as well as resist new housing developments that would attract newcomers and strengthen the local economy.
<a target="_blank" href="https://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/07/study-high-levels-of-homeownership-can-kill-the-job-market/">Brad Plumer</a> at The Washington Post notes that the findings go against some common views. For example, some economists contend that “people who own homes have denser local networks, which make it easier for them to find jobs in their local area”.
If Professors Blanchfield and Oswald are right, this is an important finding. Mortgage interest tax deductability costs the US government $70 billion p.a. Yet as I’ve noted before (<a target="_blank" href="https://blogs.crikey.com.au/theurbanist/2012/06/17/are-high-home-ownership-countries-wealthier/">Are high home-ownership countries wealthier?</a>), the economic advantages of home ownership at the national level are over-stated.
The findings surprise some observers. <a target="_blank" href="https://www.petergordonsblog.com/2013/05/unemployment-and-commuting">Peter Gordon</a> from USC is worried that state-level data can mask very big variations between urban and regional areas and between cities. When he saw the paper, he compared metropolitan area commuting rates with unemployment rates and found no correlation, albeit he only looked at one year.
<blockquote>The correlations that I found for the 43 areas for which I could get data for both variables were these: 2009 mean commute time (minutes, solo drivers) and 2012 unemployment -0.07; 2009 commute time variance and 2012 unemployment -0.12; 2009 mean commute time and 2012-2013 change in unemployment, -0.08; 2009 commute time variance and 2012-2013 change in unemployment -0.10. For the commuting-unemployment link, there is apparently not much there.</blockquote>
The paper also provoked Charlie Gardener at the <a target="_blank" href="https://oldurbanist.blogspot.com.au/2013/05/homeownership-unemployment-and-economic">Old Urbanist</a> to crunch some related numbers. He looked at the change in median household income and home ownership between 1950 and 2010 and found a positive relationship between these two variables, with an R squared of 0.28.
The southern states, he says, experienced the largest increases in home ownership rates over the 60 years, as well as the biggest increases in incomes. This is also true when incomes are adjusted for housing costs.
Peter Gordon didn’t expressly look at home ownership and Charlie Gardner didn’t look at unemployment so their analyses are suggestive not definitive. Mr Gardner notes sagely that his analysis doesn’t alter “the pattern carefully discerned by the authors”. But it at least points to:
<blockquote>the complexity of the homeownership phenomenon, which is affected by numerous economic, demographic and political factors, and which benefits from being studied in the broadest possible context so as to avoid placing too much importance on any particular correlation.</blockquote>
I wonder if there might be some underlying factor that explains the association observed by Professor Blanchflower and Professor Oswald. For example, could it be that changes in the density of population and employment over the period explain why some states perform better on unemployment than others?
I also wonder if the relationship between home ownership and unemployment is even all that strong to begin with. As the exhibit shows (it’s taken from the paper), there is indeed a positive relationship between these variables, however the R squared is only 0.108.
I know statisticians emphasise that statistical measures need to be interpreted in their context, but that does seem a pretty unimpressive number. Remove one big city like New York from the regression on the grounds it’s an outlier and the relationship might vanish entirely.
Alan Davies is a transport and urban development consultant, and a blogger for <a target="_blank" href="https://blogs.crikey.com.au/theurbanist/">The Urbanist</a>.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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Is there a link between unemployment and home-ownership?

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Craig Gore has the rare double honour of not only being bankrupted (twice) and also holding a place on the BRW Rich List. Back in 2007, BRW claimed Gore had an accumulated wealth of $183 million as the Queensland property boom was in full swing. Within a couple of years, Gore's empire would collapse in a screaming heap, with creditors losing $489 million and the official liquidator accusing Gore of operating a Ponzi scheme and misleading investors.
But while investors, including British billionaire Lord Michael Ashcroft, lost hundreds of millions of dollars, it appears Gore himself isn't exactly living in poverty.
The son of former white-shoe property developer Mike Gore (who fled to Canada to avoid debts in the 1990s as his Sanctuary Cove development collapsed) moved into a $2 million property at exclusive Paradise Point on the Gold Coast a few weeks. The property has five bedrooms, six bathrooms, a boat ramp, three lock-up garage spaces and stunning river views.
<img alt="gorejune3one" src="/images/stories/2013/06/gorejune3one.jpg" width="470" height="250">
The rental for the luxury abode is understood to be $1300 a week -- with one source suggesting it's being paid by Gore's wife, Marina.
But while Gore has been able to maintain what appears to be a life of luxury after declaring bankruptcy, authorities are circling. ASIC is taking action against Gore in the Federal Court in relation to allegations Gore and his associates diverted funds raised from 380 investors to Gore's bankruptcy trustee, former wife, current wife and more than five associated consulting firms. (Among other things, the monies diverted were allegedly used to purchase a $600,000 car for Marina Gore).
The funds were supposed to have been used to purchase real estate in the US and Australia on behalf of investors. While this was occurring, Gore, who is accused of masterminding the activity, was also being paid $2 million as a consultancy fee. (Gore’s wife, Marina, who is currently renting the luxury Gold Coast pad, is also named as a defendant in the ASIC case).
ASIC's actions come after the liquidator of Gore's company had previously recommended various civil or even criminal claims for a range of offences, including failure to prevent a company from trading while insolvent, unreasonable related party transactions, breaches of their directors' duties and potential breaches of the Trade Practices Act.
Gore's troubles with the law extend past his alleged Ponzi schemes, with the twice-bankrupted businessman fined $700 last month and disqualified from driving after being caught driving a luxury Mercedes in November while banned. The prosecutor alleged Gore "flouts the law and has shown disregard for traffic conditions [with fines not having] any deterrent effect on him".
Gore recently <a href="https://www.goldcoast.com.au/article/2013/04/03/449728_gold-coast-news" target="_blank">told the Gold Coast Bulletin</a> that the past three years had been the "hardest of his life" and that "there have been certain assumptions made ... this is a trial by brand. The Gore brand." That brand can't be worth much after two bankruptcies, the last costing creditors almost $300 million.
The Federal Court case against Gore and his associates is expected to be heard later this year in Melbourne.
Adam Schwab is the author of Pigs at the Trough: Lessons from Australia’s Decade of Corporate Greed, published by John Wiley &amp; Sons in 2010.
This article originally appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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ASIC circles former BRW Rich Lister Craig Gore

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Darwin has the highest median house price across the nation at $620,000, while Sydney has the highest median unit price, according to RP Data.
Based on private treaty sales, the median house price for Darwin was derived from 17 sales over the four weeks to June 2.
The median unit price in Sydney is $498,000 - derived from 1,023 sales over the past four weeks.
Sydney comes in second place with the most expensive median house price at $605,000, derived from 1,528 sales.
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Private treaty sales represent around 85% of all dwelling sales across the country. The statistics are calculated across houses and units sold over the most recent four week period.
Records without a valid sale price have been excluded from the analysis and median prices are withheld for cities where fewer than ten sales have been recorded.
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Darwin has highest private treaty median house price across the nation: RP Data

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Demand for industrial space is rising in Melbourne' east, according to property advisors Herron Todd White.
Melbourne's east comprises the industrial markets of Mount Waverley, Clayton, Croydon, Bayswater, Scoresby and Rowville.
Yields in the east range from 7.75% to 8.5% for prime industrial space and from 9% to 10% for secondary space.
Demand for space is static in other markets.
Click to enlarge
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Recent industrial sales in Melbourne's East include a factory and office building known as Unit 9 at 28 Ricketts Road, Mount Waverley sold privately by Crabtrees Real Estate for $1,005,000.
Sold with vacant possession the total building area measured 1006 square metres inclusive of 372 square metres of offices and a 688 square metres of factory space.
Overall, Herron Todd White reports that Melbourne is in a strong position to compete for occupiers of industrial property,
This is due to Melbourne's "long-term supply of developable industrial land available in an affordable price bracket."
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Increasing tenant demand for industrial property in Melbourne's east: Chart of the week

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Thirty-two employees will lose their jobs at the part-Fairfax-owned Metro Media Publishing after the suburban newspaper company announced an unprecedented closure of seven Melbourne mastheads this morning.
In a blow to media diversity in an already ailing news market, MMP chief executive Antony Catalano says he was left with no choice but to close 90% of titles in the firm’s east division after he discovered they were losing millions of dollars in revenue a year to News Limited.
The former Fairfax Community Network titles to close June 17 are Casey Weekly, Casey Weekly Cranbourne, Knox Weekly, Monash Weekly, Maroondah &amp; Yarra Ranges Weekly and the Peninsula Weekly and Frankston Weekly. Only the 148-year-old Dandenong Journal will remain open for business in the 80-employee strong group.
In an email announcing the layoffs this morning, <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/06/Forwarded-message.pdf">obtained by </a><a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2013/06/Forwarded-message.pdf">Crikey</a>, Catalano blames a potentially illegal “kickback” program run by News involving the payment of millions of dollars in benefits to real estate agents to encourage them to spend their marketing outlay with the rivalLeader group.
<blockquote>
“Our ability to gain new real estate advertising clients has been undermined by the millions of dollars News Limited is paying to agents across Melbourne and particularly in the south-east, which has made it impossible to compete fairly… it is ironic that a media organisation’s kickback program is the cause of media jobs being lost.”
</blockquote>
Catalano said he had lodged official complaints with the state government and Consumer Affairs Victoria in the past 12 months but that the authorities had been slow to act.
A spokesperson for the Media, Entertainment and Arts Alliance released the following statement this morning:
<blockquote>
“Today is a sad day for the community in Melbourne’s east. These newspapers have served their local communities with dedication and passion for many years and their reporting on local news, sport and culture will be sorely missed by readers. “Our members will continue to strive to provide the highest standard of professional journalism elsewhere in the industry and the union is with them every step of the way through this difficult period. “The union is optimistic about the future of the Dandenong Journal which will continue to be a flagship masthead for the community.”
</blockquote>
Crikey understands that Fairfax, when the merger was being examined by the Australian Competition and Consumer Commission last year, argued that without the 50-50 tie-up its entire suburban stable would shutter, substantially lessening competition.
In today’s email to staff, Catalano acknowledged the “East division was losing several million dollars at the time of the merger with Fairfax in July 2012. We went into the deal aware of the substantial losses and committed to trying to turn the business around.”
<blockquote>
“While we have done a good job of reducing the losses, the unprofitable titles remain a financial drain on the company. We have certainly tried a lot of things over the past 12 months to attempt to reinvigorate the business, and we have given it our best shot. We should all be very proud of what we have achieved over a long period of time.”
</blockquote>
The layoffs were <a target="_blank" href="https://www.crikey.com.au/2013/04/30/fairfax-jv-sheds-staff-as-suburban-profits-dive/?wpmp_switcher=mobile">first foreshadowed by Crikey in April</a>, when MMP announced that 20 staff would be affected by redundancies and roster changes at its 11-masthead central group. They followed an <a target="_blank" href="https://www.crikey.com.au/2012/09/27/staff-to-go-at-fairfax-venture-as-catalano-slashes-costs/?wpmp_switcher=mobile">initial 29 layoffs last October</a> when photography and writing tasks in the east group were outsourced to labour hire firm The Media Gang.
It brings to 12 the number of titles closed since last year’s merger. The Melbourne Weekly, Melbourne Weekly Port Philip and Melbourne Weekly Bayside were shuttered to make way for four “Review Locals”. However, two of those, the Review Local Port Phillip and Review Local Bayside, closed earlier this year. An MMP spokesman said this morning seventeen titles remain in the group.
The decision comes as MMP becomes further embroiled in a bitter fight with News for market share in Victoria’s second city of Geelong, where the company is suing boutique agent Hayeswinckle for allegedly welching on the terms of an advertising deal and cosying up with News’ Geelong Advertiser.
Fairfax originally paid $35 million in cash and $35 million in assets for a 50% stake in MMP in December 2011.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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Seven local titles axed at Metro Media Publishing branch in Melbourne's outer east

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L Janusz Hooker discusses the June RBA cash rate decision.
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L Janusz Hooker discusses the June RBA cash rate decision

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RBA governor Glenn Stevens' views on the state of the economy.
At its meeting today, the Board decided to leave the cash rate unchanged at 2.75 per cent.
Information becoming available since the previous meeting is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks but, overall, remain at high levels by historical standards. Inflation has generally moderated over recent months and monetary policy has been eased further in a number of countries.
Financial conditions internationally are very accommodative. Despite the recent rise in sovereign bond yields, funding conditions for sovereigns, well-rated corporates and most financial institutions remain very favourable.
In Australia, growth over the past year has been a bit below trend. The outlook published by the Bank last month is for a similar performance in the near term and recent data are consistent with this. The unemployment rate has edged higher over the past year and growth in labour costs has moderated. Inflation has been consistent with the medium-term target and is expected to remain so over the next one to two years.
The easing in monetary policy over the past 18 months has supported interest-sensitive areas of spending and has been reflected in portfolio shifts by savers and higher asset values. Further effects can be expected over time. The pace of borrowing has thus far remained relatively subdued, though recently there have been some signs of increased demand for finance by households. The exchange rate has depreciated since the previous Board meeting, although, as the Board has noted for some time, it remains high considering the decline in export prices that has taken place over the past year and a half.
At today's meeting the Board judged that the easier financial conditions now in place will contribute to a strengthening of growth over time, consistent with achieving the inflation target. It decided that the stance of monetary policy remained appropriate for the time being. The Board also judged that the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand.
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Higher asset values noted in RBA governor's statement on June cash rate decision

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of June 1. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Brisbane auction results for June 1 weekend

<html><body>Australian Property Monitors (APM) has released a list of auction results in Adelaide for the weekend of June 1. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Adelaide auction results for June 1 weekend

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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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