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<h3 id="mr-title">Statement by Glenn Stevens, governor: monetary policy decision:</h3>
"At its meeting today, the board decided to reduce the cash rate by 25 basis points to 3%, effective 5 December 2012," writes Stevens.
"Global growth is forecast to be a little below average for a time. Risks to the outlook are still seen to be on the downside, largely as a result of the situation in Europe, though the uncertainty over the course of US fiscal policy is also weighing on sentiment at present. Recent data suggest that the US economy is recording moderate growth and that growth in China has stabilised. Around Asia generally, growth has been dampened by the more moderate Chinese expansion and the weakness in Europe.
"Key commodity prices for Australia remain significantly lower than earlier in the year, though trends have been more mixed over the past few months. The terms of trade have declined by about 15% since the peak, to a level that is still historically high.
"Sentiment in financial markets remains better than it was in mid year, in response to signs of progress in addressing Europe's financial problems, though Europe is likely to remain a source of instability for some time. Long-term interest rates faced by highly rated sovereigns, including Australia, remain at exceptionally low levels. Capital markets remain open to corporations and well-rated banks, and Australian banks have had no difficulty accessing funding, including on an unsecured basis. Borrowing conditions for large corporations are similarly attractive and share prices have risen since mid year.
"In Australia, most indicators available for this meeting suggest that growth has been running close to trend over the past year, led by very large increases in capital spending in the resources sector, while some other sectors have experienced weaker conditions. Looking ahead, recent data confirm that the peak in resource investment is approaching. As it does, there will be more scope for some other areas of demand to strengthen," Stevens writes.
"Private consumption spending is expected to grow, but a return to the very strong growth of some years ago is unlikely. Available information suggests that the near-term outlook for non-residential building investment, and investment generally outside the resources sector, remains relatively subdued. Public spending is forecast to be constrained. On the other hand, there are indications of a prospective improvement in dwelling investment, with dwelling prices moving a little higher, rental yields increasing and building approvals having turned up.
"Inflation is consistent with the medium-term target, with underlying measures at around 2½%. The introduction of the carbon price affected consumer prices in the September quarter, and there could be some further small effects over the next couple of quarters. Partly as a result of that, headline CPI inflation will rise above 3% briefly. Looking further ahead, with the labour market softening somewhat and unemployment edging higher, conditions are working to contain pressure on labour costs. A continuation of moderate wage outcomes and improved productivity performance will be needed to keep inflation low, since the effects on prices of the earlier exchange rate appreciation are now waning. The bank's assessment remains that inflation will be consistent with the target over the next one to two years.
"Over the past year, monetary policy has become more accommodative. There are signs of easier conditions starting to have some of the expected effects, though the exchange rate remains higher than might have been expected, given the observed decline in export prices and the weaker global outlook. While the full effects of earlier measures are yet to be observed, theboard judged at today's meeting that a further easing in the stance of monetary policy was appropriate now. This will help to foster sustainable growth in demand and inflation outcomes consistent with the target over time," says the statement.
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Just a little housing improvement detected so rate cut given: RBA governor's statement for December cash rate meeting

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Clearance rates across the combined capital cities decreased to 49.4% last week, compared with 51.3% the previous week. There were 2,139 auctions held across the capital cities last week, while at the same time last year, the combined capital city clearance rate was recorded at 44% and there were 1,790 auctions held over the week.
In Melbourne last week, the clearance rate was recorded at 55.6%, down from a stronger 58.2% the previous week. Melbourne’s clearance rate continues to outperform when compared with the same time last year, when the clearance rate was recorded at 50%. Auction volumes are also at higher levels with 971 auctions held across Melbourne last week, compared to 774 at the same time last year. There were 784 auctions held in Sydney last week with the clearance rate recorded at 48.6%, down from 50.4% the previous week. Over the same week last year, Sydney’s clearance rate was recorded at 44.5%.
Next week, there are almost 2,900 auctions scheduled across the country, with 2,097 of these auctions being held in the capital cities.
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Almost 2,900 auctions set for this week: RP Data

<html><body>Australian Property Monitors (APM) has released a list of results from 441 auctions in Sydney for the weekend of December 1. The clearance rate was 54%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's 441 Sydney auction results show 54% clearance rate

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<img src="/images/stories/2012/11/1.gif">
There's never a huge Santa rally when it comes to property. Just a few too many many distractions, although estate agents will seek to use the persuasive closer – buy now, this is your last opportunity before February next year. That's not really the case anymore, given property is accessible via the internet even if it looks like everyone is off on holidays. 
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<img src="/images/stories/2012/11/2.gif">
Auctions are scheduled through to December 22 this year, with most agents ideally, or more likely desperately, seeking to sell before auction. Private treaty negotiations will then continue until Christmas Eve and then through even to New Year's Eve, with vendors hoping for the occasional buyer seeking to finalise contracts for their special acquisition before the end of the year. Finding a solicitor might make things trying during the break, though. But the economist Christopher Joye bought his Sydney house on a past Christmas Eve, maintaining it was a good time to crunch the cheaper deal given the vendors had the property still for sale after an unsuccessful early December auction.
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<img src="/images/stories/2012/11/3.gif">
 
If you are thinking of being a fresh seller in 2013, have a conversation with your agent now about the marketing for your property. Decide whether you want to bring it to auction in early 2013, i.e. around late January or early February, or sell it by private treaty. Check on the agent's own holiday plans, as will he or she be around to show your home? Select the best selling agent for your property. Don't necessarily choose the agent who quotes the hearty highest selling price, as he or she could be overquoting just to get the listing and then crunch your price expectations down the track.
 
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<img src="/images/stories/2012/11/4.gif">
Pop the listing up on the agency website and other online marketing as soon as possible as a forthcoming auction or private treaty sale, and you never know, you might just get a buyer without forking out too much in marketing or any auction fees. There are still plenty of spring sellers who have yet to find their new home.  
 
 
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<img src="/images/stories/2012/11/5.gif">
Be aware that February almost always achieves a higher clearance rate than December. Likely buyers return from their summer holidays brimming with enthusiasm.
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<img src="/images/stories/2012/11/6.gif">
While waiting for the early bird 2013 buyers, give the place a quick repaint possibly inside and out. A fresh coat of paint will brighten even the most tired-looking property. Consider the services of a professional home stylist and hiring new furniture before getting the photos done for online and print marketing. At the very least, clear out clutter and anything old or dirty to make sure your property looks its best.
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<img src="/images/stories/2012/11/7.gif">
Then get your summer garden in good shape. The Christmas holidays are a good time to spend some time weeding, cleaning out dead plants and putting in some landscaping that will make your property shine come early 2013. Consider getting a pest inspection and building inspection report done. It could be a good selling point, and getting it done early will prevent any nasty surprises down the line. Get your floors in order. Re-polish floorboards, clean and/or re-grout tiles, and lay new carpet, if your current floors are looking a bit tired. Even renew the outdoor paths and patio.
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Seven smart selling and buying tips for Christmas house hunting or early bird 2013 listing

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The combined capital city auction clearance rate was recorded at 54.4 % last week, up from 52.3% the previous week. There were 2,097 auctions held across the capital cities last week. At the same time last year, there were 2,139 auctions held, and the clearance rate was recorded at 47.5%.
Melbourne, Australia’s largest auction market, recorded a preliminary clearance rate of 60.1% last week, up from 58% the previous week and continuing to track more than 5 percentage points above the national average clearance rates. At the same time last year, Melbourne’s auction clearance rate was significantly lower at 52.1%. In Sydney last week, there were 731 auctions held and the clearance rate increased from 50% the previous week to 55.5%. At the same time last year, Sydney’s auction clearance rate was recorded at 50%.
The number of auctions scheduled for the coming week is relatively similar to the last two weeks at 2,071. In the lead-up to the Christmas period where auction volumes decrease, it is expected that each week will record high auction volumes until mid-December.
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High auction volumes likely to continue until mid-December: RP Data

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A reverse mortgage is tailored for older Australians (generally 60 years old and over) who want to tap into some of the equity they have built up in their homes to fund their retirement.
They are a relatively new phenomenon in Australia and a small part of the market with around 42,000 of these loans now outstanding as of December 2011. The average loan amount is $78,000.
There are both advantages and disadvantages to taking out a reverse mortgage that you need to be aware of, as well as alternatives to consider such as <a href="https://www.health.gov.au/internet/main/publishing.nsf/content/ageing-publicat-qcoa-16info.htm" target="_blank">accommodation bond loans </a>and <a href="https://www.moneysmart.gov.au/superannuation-and-retirement/income-sources-in-retirement/home-equity-release/home-reversion-schemes" target="_blank">home reversion schemes</a>.
 
<img src="/images/stories/2012/11/1.gif">
A reverse mortgage allows you to borrow money using the equity you have built up in your home. An advantage is that it payments can be a lump sum, a regular income stream, a line of credit or a combination of these options.
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<img src="/images/stories/2012/11/2.gif">
A disadvantage is that you will generally pay a high interest rate for a reverse mortgage loan than a "normal" loan. With interest charged at a higher rate a small reverse mortgage can balloon into a huge debt. A $50,000 loan borrowed at a rate of 10% at age 60 will have increased to $232,000 by age 75 and $1,041,000 by the time you turn 90.
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<img src="/images/stories/2012/11/3.gif">
An advantage is that government legislation introduced this year protects home owners from ending up in a position of negative equity – owing more than their home is worth on all new reverse mortgage contracts.  When the reverse mortgage contract ends and your home is sold, the lender will receive the proceeds of the sale and you cannot be held liable for any debt in excess of this.
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<img src="/images/stories/2012/11/4.gif">
A potential disadvantage of a reverse mortgage is that if you are the sole owner and someone lives with you, that person may not be able to stay in the house when you die.
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<img src="/images/stories/2012/11/5.gif">
<a href="https://www.sequal.com.au/component/option,com_sobi2/Itemid,55/" target="_blank">Industry body SEQUAL</a> is now well established to weed out shonky operators. You should only deal with a lender that is a member of SEQUAL. All members of SEQUAL operate an ASIC-approved conflict resolution procedure, and pledge to address customer concerns in a timely manner.
 
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<img src="/images/stories/2012/11/6.gif">
A disadvantage is that a reverse mortgage may affect your pension eligibility. Find out what the impact will be by talking to the Department of Human Services' <a href="https://www.humanservices.gov.au/customer/services/centrelink/financial-information-service" target="_blank" title="Financial Information Service">Financial Information Service</a>.
 
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<img src="/images/stories/2012/11/7.gif">
Another benefit of SEQUAL is that you can choose to use an accredited equity lease consultant to arrange your reverse mortgage. Search by state using the <a href="https://www.sequal.com.au/component/option,com_sobi2/Itemid,55/" target="_blank">SEQUAL register</a>. If you are using a mortgage broker or financial planner, check to make sure they hold appropriate ASIC licenses. ASIC advises that you should always get independent legal advice before taking out a reverse mortgage.
 
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<img src="/images/stories/2012/11/8.gif">
A potential disadvantage of a reverse mortgage could be that you need your lender's permission to sell, lease, vacate or renovate your home or have someone move in with you. You should make sure you fully understand the terms of the loan. Again, independent legal and financial advice is necessary.
 
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<img src="/images/stories/2012/11/9.gif">
ASIC's MoneySmart consumer website provides this<a href="https://www.moneysmart.gov.au/tools-and-resources/calculators-and-tools/reverse-mortgage-calculator" target="_blank"> handy calculator</a> to work out how your debt builds up over time and how much of your home will you own. It also allows you to see how changes in interest rates and house prices will affect the equity in your home.
 
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<img src="/images/stories/2012/11/10.gif">
An advantage of a reverse mortgage is that you can restrict your borrowing to as little as $10,000, with some lenders keeping your exposure low and having less of an impact on your future financial position.
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The 10 must-know facts about the advantages and disadvantages of reverse mortgages loans

<html><body>Australian Property Monitors (APM) has released a list of results from 382 auctions in Sydney for the weekend of November 24. The clearance rate was 59.7%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's 382 Sydney auction results show 59.7% clearance rate

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<img src="/images/stories/2012/11/1.gif">
Have you done enough research and background reading? Reading the get-rich quick stories in investment magazines will give you the impression that what you are contemplating is a sure-fire investment bet, but that is never the full picture. You should read widely and thoroughly about the mining town you’re considering investing in including newspapers, investor forums, the views on the mining boom of economists and government reports.
 
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<img src="/images/stories/2012/11/2.gif">
Do you understand all the forces shaping the town and the region? You need to be aware of government investment plans for the region, including transport and other infrastructure and the timeline for their implementation. The mining boom is set to peak nationally in 2014, but when will it peak in your investment region?
 
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<img src="/images/stories/2012/11/3.gif">
Have you spoken to another investor who has bought in the town? Make sure you find out the experiences of other investors. Learn from their mistakes and pick up their tips.
 
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Have you only listened to the advice of marketeers and spruikers? Getting market insights and advice from someone who is also trying to sell you property in that same market (and earn a commission from it) is not a good idea. Avoid the opinions and suggestions of people with vested interests.
 
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<img src="/images/stories/2012/11/5.gif">
Are there other industries driving the economy of that town? Investing in towns that rely solely on one industry are extremely risky. Consider mining towns that have other industries supporting the economy as well.
 
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Who are you likely tenants going to be? Are they likely to be families or contractors living on their own? This will guide the type of property you invest in.
 
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Are you going to buy a new property or an old one? New properties tend to be more expensive, while older properties tend to have better capital growth potential and are in better locations. Never buy a property just for the tax depreciation benefits. In some towns the only option may be a new property, but be wary of house-and-land packages.
 
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<img src="/images/stories/2012/11/8.gif">
Have you visited the town? It’s worth making the journey out to a remote location to speak to locals, get a sense and flavour of the town and make yourself aware of local factors such as pollution, facilities, schools, transport, etc.
 
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<img src="/images/stories/2012/11/9.gif">
Will you be getting enough of a return to just the risk of your investment? Once you are aware of the risks of investing in a mining location, you should ensure the rental yields will be high enough to compensate. On the flipside, very high yield potentials are rarely sustainable in the long run.
 
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<img src="/images/stories/2012/11/10.gif">
Are there any other better regional options? It’s a good idea to consider other locations nearby that may offer better long-term potential. For example, you might choose to invest in the Whitsundays, which is tipped to be a fly-in-fly-out (FIFO) destination for a place like <a href="/news">Moranbah</a>, rather than Moranbah itself.
 
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<img src="/images/stories/2012/11/11.gif">
Have you considered a more stable city location with ties to mining? You should also weigh up the alternative of investing in city location that has ties to the mining industry, where the risk is lower. For example, north-east Perth is a FIFO hotspot for WA mining regions.
 
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<img src="/images/stories/2012/11/12.gif">
Do you have the financial buffer to sustain your investment if the market dips? You should have the means necessary to keep your investment afloat should the market suffer a short-term downturn when rents could fall, or your property could stand vacant for a period of time. It’s always a good idea to get professional financial advice for any large investment.
 
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<img src="/images/stories/2012/11/13.gif">
Have you thoroughly reviewed all the information you have at hand? Are you taking a gamble or are you making a sensible investment. Don't speculate without wisdom.
For more on investing in mining towns, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-gladstone-investment-keys-to-one-of-the-nations-most-talked-about-hotspots" target="_blank">Gladstone – Investment keys to one of the nation’s most talked-about hotspots</a>
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The 13 questions to ask before buying an investment property in a mining town

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<img src="/images/stories/2012/11/1.gif">
Be hard nosed. Don't let emotions trump reason.
 
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Await the cyclical tough market so you are cashed-up ready to go.  
 
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Register your interest, but never the upper level of your buying preparedness.
 
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It never hurts to put in a low offer. Especially if the property has been on the market for an above-average length of time. A strategically wise offer won't be necessarily be taken as an insult.
 
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<img src="/images/stories/2012/11/5.gif">
Properties that have been on the market for some time may not be shifting for a variety of reasons, but most likely the asking price is way too high. Watch the listing go through two or three agents, and eventually most sellers will shift on their price, which is when it is worth putting in a low-ball offer.
 
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<img src="/images/stories/2012/11/6.gif"> Be the top bidder at auction, but then put in a lower post-auction offer to the possibly unnerved vendors. Especially at vendor bid auctions. Now that you're also the wiser as to the level of buyer competition from any other registered bidders, don't be afraid of putting in a lower offer.
 
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<img src="/images/stories/2012/11/7.gif">
Suss out the locations with a buyers' market where you are spoiled for choice. Avoid the so-called vendors' market. Make sure the buyers' market has an understandable, but easily remedied reason for its current lacking status.
 
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<img src="/images/stories/2012/11/8.gif">
Avoid buying from highly successful selling agents who knock you over with their zeal. Find the lazy or out of sorts agent who allow property to sell without putting in the hard yards of successful negotiation.
 
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<img src="/images/stories/2012/11/9.gif">
Make a low offer proffering a blunt, but credible reason that highlights something about the property that really does reduce its buying appeal. Hold you nerve and politely wear the agent down over time.
 
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<img src="/images/stories/2012/11/10.gif">
Seek out mortgagee or executor auctions – they are quite likely to have low reserves – but don't get emotional once the auction bidding is underway.
 
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<img src="/images/stories/2012/11/11.gif">
 Find out from casual querying of the listing agent the circumstances of the vendor's motives. Knowledge is power when it comes to price negotiation. 
 
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<img src="/images/stories/2012/11/12.gif">
Buy shortly before or after Christmas from vendors who've had to, or want to avoid, taking bridging finance for their next home.
 
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<img src="/images/stories/2012/11/13.gif">
Steer clear of buying a new home or off the plan as the last thing most long-haul developers want is to buckle to random asking price reductions. On the other hand, they will most likely throw in free carpets or curtains or pay your stamp duty. 
 
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<img src="/images/stories/2012/11/14.gif">
Remember it’s not just the price on which to negotiate: with other aspects including the settlement period brought forward or delayed, the size of the deposit, releasing the deposit, and the inclusions in the contract. All are worth something to you.
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The 14 smart ways of buying property at a discount – and why Christmas can be to your advantage

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<img src="/images/stories/2012/11/1.gif">
To understand the difference between price and value. Price is what you pay the vendor. Value is what your property is worth and can be accurately assessed by a competent, qualified valuer.
 
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<img src="/images/stories/2012/11/2.gif">
To guide your investment/buying/selling decisions. A property investment is one of the biggest decisions you will make, yet people make them without any objective advice. On the other hand, people always seek qualified financial advice when making other investment decisions.
 
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<img src="/images/stories/2012/11/3.gif">
For an objective assessment. A reputable valuer is objective, an estate agent acts on behalf of the vendor. The aim of an estate agent is to get the maximum price for the vendor. Relying on the estate agent to set the price could see you paying over the odds. Choose a Certified Practising Valuer (CPV).
 
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<img src="/images/stories/2012/11/4.gif">
A reputable valuer is objective, an estate agent acts on behalf of the vendor. The aim of an estate agent is to get the maximum price for the vendor. Relying on the estate agent to set the price could result in you paying over the odds. Choose a certified practising valuer (CPV).
 
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<img src="/images/stories/2012/11/5.gif">
Personal attachment can cloud judgement. Everyone forms emotional attachments to the homes they live or a property they wish to buy, which can affect how much they believe they are worth. An independent valuation can provide some clarity and prevent unrealistic expectations. If you are selling, a valuation can provide a good idea as to what you can realistically expect it to sell for – it may in some cases be more than you think it is worth.
 
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<img src="/images/stories/2012/11/6.gif">
A valuation is a legally binding document and so can be a valuable document when negotiating with buyers/vendors and if any disputes arise.
 
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<img src="/images/stories/2012/11/7.gif">
A valuation is tax-deductible if the property is held for investment purposes. So you get an objective assessment of the value of your property and can claim the cost as a deduction from your annual tax assessment.
 
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<img src="/images/stories/2012/11/8.gif">
Prevent any financing shocks. This is particularly an issue if you are buying an apartment off the plan or a house-and-land package, where the price you pay may be affected by rebates, incentives, developer profits, marketing costs and a change in value over time. A lower valuation may require a buyer to dip into the hip pocket or be forced to take out lenders mortgage insurance.
 
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And if you want to get some perspective and objectivity on your property’s worth but don’t wish to use a property valuer these are four alternatives to consider (or you could do them all):
Looking at real estate websites. In addition to seeing what prices other comparable properties in your area are advertised for some listings website provide a “sold” section so you can view recent sales. 
Call a couple of local estate agents Speak to a few estate agents to get a sense of what properties have sold for in that area and if you are negotiating a fair price. A local estate agent that is not acting on behalf of the vendor you are negotiating with can be good source of knowledge and information.
Engage a buyer’s agent Unlike an estate agent, a buyer’s agent will act on your behalf and seek to negotiate the best possible price on your behalf.
Buy a property report There are a number of data providers that sell property reports with detailed sales histories right down to the suburb and street.
 
 
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Eight reasons why you should consider getting a property valuation before selling or buying

<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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[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.

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[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.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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