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Perth sales volume up 23% on this time last year: REIWA

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The number of distressed properties put up for sale in 2012 is expected to climb, thanks to continuing struggles facing property owners and an entrenched hesitancy from potential buyers to jump into the market, according to a report by the Australian Financial Review.
Overall distressed real estate listings soared 30% in Australia in 2011 compared with 2010, according to Colliers International research.
More than half of the 775 distressed properties advertised in 2011 were in Queensland.
“You have a significant number of properties not sold coming into the market in 2012, and there's more coming on,” chief executive of listed property valuer LandMark White Brad Piltz told the AFR. 
A second source told the AFR that interest in buying distressed properties is slowly gaining pace as investors increasingly warm to the view that in some markets prices have bottomed out.
In a separate report, the AFR said that Australian housing prices were unlikely to experience a major slump in 2012, citing ANZ Research.
ANZ holds the view that market fundamentals remain supportive, although prices are likely to be flat or slightly negative.
“While housing construction continues to weaken under the cloud of negative market sentiment and softening prices, forward indicators suggest the recent slowdown in net overseas migration will continue to reverse,” ANZ said, according to the AFR.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.
 
 
 
 
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Distressed property listings to grow in 2012

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Mortgage arrears are on the rise, with 28 of Australia’s 65 regions now considered to have high mortgage delinquency. 
According to Moody's, <a href="/news">Queensland and WA have been the hardest hit</a>, with NSW not far behind. 
The five worst postcodes for mortgage arrears in NSW are:
2766 (Eastern Creek, Rooty Hill)
2761 (Colebee, Dean Park, Glendenning, Glendenning DC, Hassall Grove, Oakhurst, Plumpton)
2760 (Colyton, Oxley Park, St Marys)
2753 (Agnes Banks, Bowen Mountain, Grose Vale, Grose Wold, Hobartville, Londonderry, RIchmond, RIchmond Lowlands, Yarramundi)
2262 (Blue Haven, Budgewoi, Buff Point, Doyalson, Halekulani, San Remo)
 
The five worst postcodes for mortgage arrears in Queensland are: 
4655 (Booral, Bunya Creek, Craignish, Dundowran, Eli Waters, Ghost Hill, Great Sandy Strait, Happy Valley, Hervey Bay, Kawungan, Kingfisher Bay, Nikenbah, Point Vernon, River Heads, Scarness, Sunshine Acres, Susan RIver, Takura, Toogoom, Torquay, Urangan, Urraween, Walieburn, Walligan, Wodunna)
4575 (Birtinya, Bokarina, Buddina, Kawana Waters, Minyama, Parrearra, Warana Warana Beach, Wurtulla)
4567 (Castaways Beach, Little Cove, Noosa Heads, Sunrise Beach, Sunshine Beach)
4217 (Benowa, Bundall, Chevrol Island, Gold Coast, Isle Of Capri, Main Beach, Paradise Island, Sorrento, Surfers Paradise, The Spit)
4213 (Austinville, Bonogin, Mudgeeraba, Springbook, Tallai, Worongary)
 
The three worst postcodes for mortgage arrears in WA are:
6168 (Cooloongup, Garden Island, Hillman, Peron, Rockingham)
6167 (Anketell, Bertram, Calista, Casuarina, Kwinana Beach, Mandogalup, Medina, Orelia, Parmelia, Postsans, The Spectacles, Wandi) 
6172 (Port Kennedy)
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The worst five postcodes for mortgage arrears in NSW and Queensland

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You need to consider selling your home if:
1. You cannot afford your loan repayments
2. You will be unable to afford your loan repayments for some years to come
You need to make this decision as early as possible because it is better to sell your home yourself rather than have the lender sell the home for you. You are more likely to get a better price for your home and avoid lots of legal costs if you sell your own home.
The decision whether to sell your home is most difficult when:
1. You are unemployed and trying to get a job, or
2. You are ill and trying to get well but you just don’t know when you will be well, or
3. You are waiting for a compensation payment.
In these situations you are hoping that you can make the loan repayments soon but you just don’t know when this will happen. The difficulty is that as time goes on things are going to get worse and you will get further and further behind on your loan repayments and incur lots of extra interest.
In these circumstances, it is recommended that you:
1. Make a repayment arrangement with the lender for up to six months;
2. If by the end of the six months you still cannot make the loan repayments you should put your home on the market;
3. Go back to the lender and negotiate a further arrangement on the basis you are selling your home.
Remember: If you get a job, get well or get a large lump sum of money before your home sells you still have the option of trying to negotiate a further arrangement on the basis you can now pay the loan (as long as the lender does not have a court judgment).
Important: You should file in an independent external dispute resolution scheme (EDR) if:
<ul>
<li>you are unable to make a repayment arrangement with the lender or</li>
<li>the lender is threatening to commence legal action or</li>
<li>the lender has issued you with a statement of claim but has not obtained a court judgment</li>
</ul>
When do I have to make a decision?
You need to make a decision to sell your home as early as possible but preferably before the lender commences any legal proceedings. It is never too late to ask for time to sell, but the lender is less likely to agree later in the enforcement process and enforcement costs will be added to your loan as the legal proceedings progress.
You need to give yourself as much time as possible to sell your home and get a good price for it.
I’ve decided to sell my home, what do I do now?
Step 1
You need to place your home on the market. You need to price the home realistically so that it will sell but for the best price possible. If you are using a real estate agent you should explain what time frame you need to sell the home within. This will usually be under six months but could be under three months depending on what arrangement you make with your lender.
Step 2
You need to give copies of evidence that you are selling your home to the lender. This evidence should include (where available):
(a) Copy of the contract with your real estate agent
(b) Evidence of advertising of your home
(c) Front page of the contract of sale
(d) Marketing plan
Step 3
Negotiate a repayment arrangement on the grounds of financial hardship with your lender. See Fact Sheet: <a href="https://www.cclcnsw.org.au/fact-sheets/financial-hardship-3/financial-hardship/">Financial Hardship</a> and <a href="https://www.cclcnsw.org.au/sample-letters/request-for-hardship-variation/">Sample Letter: Financial Hardship</a>.
You are negotiating the arrangement on the basis that:
(a) You are in financial hardship
(b) You can make regular repayments of what you can afford until the home is sold
(c) You have a reasonable time to exchange contracts for the sale of your home (ask for six months, but you may need to consider agreeing to three to four months).
(d) When the home is sold your loan will be repaid. 
Step 4 
If the lender:
(a) Will not agree to the proposed variation, or
(b) Threatens legal action, or
(c) Commences legal action
You need to consider filing in EDR and get advice.
What if my home is worth less than the amount of my loan?
If you think your home may be worth less than the amount you owe on your home loan, get legal advice.
For the 20 worst-performing suburbs for mortgage arrears, click <a target="_blank" href="/news">here</a>.
<a target="_blank" title="cclsnsw" href="https://www.cclcnsw.org.au/">Consumer Credit Legal Centre NSW</a> is a community legal centre specialising in financial services, particularly matters and policy issues related to consumer credit, banking and debt recovery.
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What to do if you are in mortgage stress

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<div>The median weekly asking rent for units in Sydney, according to RP Data. The indicative gross rental yield for units in Sydney is 5.2%.</div>
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<div>The median weekly asking rent for units in Melbourne, according to RP Data. The indicative gross rental yield for units in Melbourne is 4.3%.</div>
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<div>The median weekly asking rent for units in Brisbane, according to RP Data. The indicative gross rental yield for units in Brisbane is 5.4%.</div>
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<div>The median weekly asking rent for units in Adelaide, according to RP Data. The indicative gross rental yield for units in Adelaide is 4.8%.</div>
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<div>The median weekly asking rent for units in Perth, according to RP Data. The indicative gross rental yield for units in Perth is 4.8%.</div>
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<div>The median weekly asking rent for units in Darwin, according to RP Data. The indicative gross rental yield for units in Darwin is 5.8%.</div>
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<div>The median weekly asking rent for units in Canberra, according to RP Data. The indicative gross rental yield for units in Canberra is 5.4%.</div>
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<div>The median weekly asking rent for units in Hobart, according to RP Data. The indicative gross rental yield for units in Hobart is 5.3%.</div>



<div><a target="_blank" href="https://www.propertyobserver.com.au/residential/investors-guide-housing-rents-across-all-capitals-by-the-numbers/2011091151431">Last week we looked at median weekly asking rents for houses across all capitals. </a></div>
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Investors' guide: Unit rents across all capitals by the numbers

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The median weekly asking rent for houses in Sydney, according to RP Data. The indicative gross rental yield for Sydney houses is 4.4%.
 
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The median weekly asking rent for houses in Melbourne, according to RP Data. The indicative gross rental yield for Melbourne houses is 3.7%. 
 
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The median weekly asking rent for houses in Brisbane, according to RP Data. The indicative gross rental yield for Brisbane houses is 4.7%.
 
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The median weekly asking rent for houses in Adelaide, according to RP Data. The indicative gross rental yield for Adelaide houses is 4.2%.
 
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The median weekly asking rent for houses in Perth, according to RP Data. The indicative gross rental yield for Perth houses is 4.3%.
 
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The median weekly asking rent for houses in Darwin, according to RP Data. The indicative gross rental yield for Darwin houses is 5.2%.
 
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The median weeklyasking rent for houses in Canberra, according to RP Data. The indicative gross rental yield for Canberra houses is 4.8%.
 
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The median weekly asking rent for houses in Hobart, according to RP Data. The indicative gross rental yield for Hobart houses is 5%.
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Investors' guide: Housing rents across all capitals by the numbers

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Brisbane’s retail property sector continues to struggle in the wake of the floods and general economic uncertainty, with rents, yields and values expected to remain flat for the remainder of 2011, according to Herron Todd White’s June review of retail property markets.
 
The following are edited extracts from Herron Todd White’s June Month in Review report. 
The fall in national retail turnover (down 0.5% in March 2011) was driven by Queensland, which had negative growth of 22.9% growth.
In Brisbane, general national economic uncertainty following the release of the Federal budget and the tough economic situation overseas, particularly in the US, has been further exacerbated by the recent floods and a declining population growth rate. Resultantly, growth in retail spending has been depressed.
Retailers’ profits and their ability to pay rent have been affected by the depressed spending environment, and many have gone out of business.
Small independent retailers have been most impacted, and many have gone out of business. The centres experiencing the greatest vacancies are the older buildings that are not well maintained in secondary retail locations. Yields have generally stabilised across the sub-sectors. Brisbane CBD yields range from 6.25% to 7.25%, prime neighbourhood centres with a strong tenant such as Coles or Woolworths range from 7% to 8%, and well-located convenience centres with a strong tenancy mix are also achieving yield ranging from 7% to 8%. Secondary yields are between 8% and 9%, with others above 9%.
Yields for bulky goods centres have ranged from 8.5% to 10.5% and suffered at the early stages of the economic downturn, in particular those properties over $10 million.The keener yields have generally been for well-located properties under $5 million. 
The near term outlook for retail investment yields is for them to remain stable.
With the prevailing economic uncertainty, the possibility of further interest rate rises and the impact of the Brisbane floods, we anticipate that consumer confidence and retail spending will remain soft for most of the year. Consequently rents, yields and values for retail property are expected to remain flat in 2011.
 
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<h2>Sydney</h2>
Rental rates for prime retail space within the CBD were relatively unaffected by the downturn in the financial sector. That’s not to say, however, that the market did not record a significant fall in demand, it just so happened that this fall in demand coincided with a considerable reduction in supply, with the withdrawal of the Mid-City Centre and the majority of space within the Westfield Sydney City re-development.
While the supply of prime retail space eventually increased in the CBD following the completion of the new Mid-City Centre and the gradual reopening of Westfield Sydney City, it was met by an increase in the demand from consumers as conditions in the financial sector improved.
As of May 2011, only 4.9% of super-prime shops were vacant within the CBD. Outside the CBD, the retail market is less exposed to the performance of the finance sector and is more correlated to the general economy. Reflecting the downturn in retail turnover growth and the subsequent increase in the household savings rate, the demand for retail property throughout Sydney has waned, impacting the rental rates of both prime and secondary strip properties throughout Sydney. At an institutional level, however, activity has increased, with several neighbourhood centres changing hands.
 
<h2>Canberra</h2>
 Despite the ACT economy being driven by the public service, a far less volatile sector than those driving other state economies (mining, manufacturing or tourism), changing consumer preferences and limited regulatory flexibility is creating a two-tier retail market within the capital. 
At the bottom end of the market, a shift in preference away from the traditional group and local centres in favour of civic and larger town centres has caused occupier demand rental rates and subsequently capital to values fall within some of these smaller locations. 
At the other end of the market, continued population growth is driving demand for retail facilities within the capital. Development approvals and site sales for supermarket developments has increased. This includes the approval of the Dickson Centre master plan and the $14.38 million purchase of a 21.35-hectare site in Casey for the development of the new Casey centre.
Looking forward, weaker consumer spending is expected to be offset by higher population growth, subsequently driving the take up of these new developments. Market conditions for some group and local centres, however, will remain depressed, as consumer preferences continue to favour larger retail formats.
<h2> Melbourne </h2>
 
The major industries of Melbourne are the automobile industry, information technology and education. In addition, three of the most important industries of Australia have their headquarters in Melbourne, including Telstra, BHP Billiton and the National Australia Bank.
Victoria retail turnover has been performing strongly, with a significant disparity between Victoria and statewide performance.
The Melbourne CBD retail market is traditionally low yielding, but it has generally provided good capital growth for investors. 
Prime retail property in the Melbourne CBD continues to be tightly held and highly sought after. However, these properties are still dependent on average disposable income, which affects the tenant’s ability to pay rent. Nevertheless, investors continue to compete strongly, resulting in record low yields and strong capital growth. The market is clearly dominated by private investors prepared to pay a premium for prime retail locations.
A good example of a recent Melbourne CBD investment sale is 269 Swanston Street, Melbourne. The property is zoned Capital City Zone 1 and situated on the busy Swanston Street towards the corner of Lonsdale Street. It is an older two-storey brick building with many period features including bluestone walls and stained-glass windows. The building underwent refurbishment works in 2006. The property has a land area of 179 square metres and was sold in March 2011 for $6.5 million. It was sold fully leased to Dumplings Plus at a net passing income of $202,873, reflecting an initial passing yield of 3.12%.
We anticipate prime retail yields, rents, and vacancy rates to remain stable throughout the remainder of 2011.
These key performance indicators will be influenced by retail turnover figures, interest rate pressure, lending cautions of the major banks and the continuation of online overseas spending linked to the stability of the Australian dollar.
Despite combined pressures of the Australian dollar, prevalence of overseas internet shopping and pending interest rate rises, it is reported that the Melbourne retail
market is cautiously optimistic. However, this optimism is only on the basis that obstacles in the way of retail growth are balanced by improving “core” economic conditions and investor confidence continuing to improve along with unemployment rates declining further.
 
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<h2>Adelaide</h2>
Retail turnover in South Australia has shown negative growth since July 2010, mostly contributed to by the increases in cost of living, which had led to a decrease in discretionary spending. Large increases in water rates to cover the cost of building the desalination plant (and to run it), the newly released increases in electricity rates to cover the cost of new infrastructure and the increase of 5% to 6% expected in capital value released by the Valuer-General will all further impact upon retail spending as more money from people’s pay packets are taken up paying bills.
Speculation of an interest rate rise towards the end of the year will put even more pressure on already tight finances.
The expansion of Olympic Dam will be a huge boost to the economy of SA, but the effects will mostly be felt in the medium to long term. In the short term there seems to be little light at the end of the tunnel for the retail sector.
<h2> Perth</h2>
The retail property sector has so far this year been relatively subdued in terms of sales turnover, although stock levels have been limited as owners of retail properties, particularly at the premium end, would likely have little motivation to dispose of these assets as they generally provide good and reliable returns on investment.
The largest price transaction this year is the sale of 1429-1433 Albany Highway, Cannington, which sold for $6.65 million in March, revealing a passing yield of approximately 7.4%. The property sold fully leased with a WALE of approximately 39 months, however two tenants possess a further five-year option and the other tenant two further five-year options.
The overall value of the state’s mineral and petroleum operations is massive, having totalled approximately $102 billion in the year ending December 2010, an increase of more than 50% over the previous year and roughly equivalent to the total aggregate exports of Queensland, New South Wales and Victoria.
This increase occurred despite global financial and economic turmoils and the high Australian dollar.
The state unemployment rate is currently at about 4.1%. Nationally the figure is higher, although below 5%.
With such low unemployment numbers, mining wages and salaries in the state have risen – mining employees in WA are the highest paid in the world. Low unemployment and relatively high wages are perhaps the most important drivers of the retail sector with retail turnovers continuing to climb, albeit with signs of plateauing after 10 years of consistently high growth.
Despite the overall growth, in every market there are a proportion of winners and losers.
The fortunes of the mining sector can also impact negatively on the retail sector. For instance, many retailers have suggested that keeping staff has been difficult while so many opportunities for employment are available in the mining sector.
Furthermore, the rising retail turnover has depended to some extent on the heavy discounting by retailers, consequently reducing retailers’ profits. Most department stores in the city appear to be on a never-ending sale, and the Coles and Woolworths battle over market share has resulted in a price war that has lasted for some months.
Overall it appears that retailers will continue to face quite serious challenges in the year ahead, as the state’s consumers have limited capability to keep spending in the face of rising costs, despite their solid employment and high wages. It is likely that over recent years most home buyers have been buying bigger and borrowing more, hence are also facing difficulties in maintaining debt costs. Many housing loan facilities also incorporated a flexibility allowing homeowners to access equity in their homes to purchase cars, boats and non-housing goods.
Therefore the typical drivers of the retail sector have to some degree been negated by excessive debt.
Reduced retail profits will have an impact on the retail property sector. However owners of retail properties would have little motivation in the current circumstances to dispose of their assets. While it is likely that their returns will diminish if retail profits continue to decline, the decline will be occurring following years of high positive growth in property revenues. As with all commercial properties, it will be the lower end of the market which will experience the greatest volatility in values.
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Brisbane retail market struggling

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

Joel Robinson

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

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

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