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This week, auction volumes are expected to remain somewhat steady on both a week-on week and year-on-year basis.
CoreLogic are currently tracking 1,190 auctions this week, while final results last week saw 1,154 auctions take place and one year ago 1,111 auctions were held.
In Melbourne, 275 homes are set to be auctioned this week, down on the 357 last week and the 500 last year.
There are 692 Sydney homes set to go under the hammer this week, increasing by over 20% on last week’s volumes (566) and almost double the number of auctions held over the same week last year (367).
Adelaide (46), Brisbane (109) and Canberra (51) all have a lower number of auctions scheduled over the week, while volumes are higher across Perth (17).
<img src="https://www.urban.com.au/images/2020/8/6/CL%20AUG%202.JPG" alt="">
Ray White Drummoyne’ Chris Wilkins is gearing up for a good result this weekend at the auction of 7 Burnell St, Drummoyne (pictured in title).
The newly built five bedroom Drummoyne mansion looks out towards Iron Cove and Rodd Island. 
“We have had 256 groups in just three weeks. There’s been massive interest from older families from across Sydney and we even have a couple of expat buyers looking to come home,” Mr Wilkins said.
<img src="https://f.datasrvr.com/f1/820/68483/Trafalgar_Ave,_Petersham.JPG" width="640" data-imagetype="External">
The two bedroom apartment at 4/347-349 Trafalgar St, Petersham (pictured above) is also set to fly on Saturday with Ray White NSW CEO Jason Andrew calling the auction.
The Petersham unit is being sold by Ray White Surry Hills | Alexandria | Glebe | Erskineville Associate Director Matthew Carvalho who has given out a price guide of $800,000 to $850,000.
“We’ve had a lot of interest in Petersham, it’s one of those popular inner west suburbs that is going through gentrification at the moment and attracting lots of young professionals and young families,” Carvalho said.
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j.ballantyne1990-6AQqhLzZaK

Sydney auction volumes again leaping ahead of Melbourne's Stage 4 slump

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Homestar Finance has claimed the title of the lowest fixed rate on the market for new home buyers and refinancers.
The new rate of 1.98 per cent is fixed for one year, reverting to an ongoing variable rate of 2.49 per cent. The rate requires borrowers to have a 20 per cent deposit and comes with upfront fees of $1,010.
RateCity.com.au analysis shows if an owner-occupier with a $400,000 home loan switched from the average existing owner-occupier rate of 3.28 per cent, to this new rate from Homestar Finance they could potentially save $3,796 in the first year, including refinancing costs, or $15,816 in the first five years. 
Sally Tindall, research director at RateCity.com.au, said today's rate cut would ignite further competition among the low-cost lenders in a bid to claim the title of Australia’s cheapest home loan.
“At 1.98 per cent, this is the lowest fixed rate available to everyday Australians, but it’s important to remember it only lasts for a year. That said, the revert rate is still significantly lower than the big four banks’ variable rates,” she said.
Despite no move to the cash rate, lenders are continuing to cut both fixed and variable rates. Just last week, loans.com.au launched a new lowest introductory variable rate of 1.99 per cent for one year.
“It’s starting to feel like the end of an auction where the competitors are edging each other on in small increments,” she said. 
“But they’re all playing ball, pushing each other below the two per cent barrier.
“We expect rates to keep nudging lower over the next few months as lenders try to capitalise on the current refinancing boom,” she said.
Lowest 1-year fixed rates on RateCity.com.au
<table class="x_x_x_MsoNormalTable" style="width: 337px;" border="0" cellspacing="0" cellpadding="0"><tbody>
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Lender
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Advertised rate
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Homestar Finance
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1.98%
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Greater Bank
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2.09%
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UBank
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2.14%
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Lowest 2-year fixed rates on RateCity.com.au
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Advertised rate
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Homestar Finance
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2.06%
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HSBC
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2.09%
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BCU
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2.12%
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Lowest 3-year fixed rates on RateCity.com.au
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Advertised rate
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UBank 
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2.14%
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BCU
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2.16%
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<td width="225">
Macquarie Bank, Westpac
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2.19%
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Home loans hit new record low of 1.98 per cent

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Residential prices continue to be holding through June 2020 in the Illawarra, according to the July Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
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The report suggests there remains a relatively low amount of stock on the market which is driving a bit more competition amongst buyers.
 Realistically priced and conventional properties are selling within two months in most cases.
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"Ten years ago, $700,000 would have given you the pick of many properties throughout the Illawarra with only the more desirable areas out of reach, however strong price increases over the past decade have restricted a purchaser with $700,000 to spend," the valuation firm said. 
This is the approximate median house price in suburbs such as Figtree and Flinders, although townhouses or units can still be picked up for under $700,000 in suburbs such as Thirroul and Bulli and older houses can be purchased in Corrimal and Russell Vale.
There have been plenty of new units built in Wollongong over the past couple of years and $700,000 will pick up a decent quality two-bedroom unit with a bit of a view.
A two bedroom apartment in Wollongong CBD has recently been sold for $488,500. 
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-134021110" target="_blank">3/6 Market Place</a> home (pictured below) comes with sleek kitchen, two oversized bedrooms, and renovated bathroom. 
It is situated within close proximity to eateries and beach. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/wollongong%20cbd%20.jpg" alt="">
In high growth areas such as West Dapto (Horsley, Wongawilli and Kembla Grange) and Calderwood, a new four-bedroom house on a 450 square metre lot can be purchased for under $700,000, the report noted. 
A current listing is a four bedroom house in Horsley priced at $649,000.
The recently updated home at <a href="https://www.realestate.com.au/property-house-nsw-horsley-133293570" target="_blank">11 Lucas Drive </a>(pictured below) comprises four bedrooms,  living and dining spaces, two bathrooms, and gardens. 
It is situated close to schools, eateries, transport and Wollongong CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/horsley.jpg" alt="">
"We see mainly younger families or couples purchasing at this price point with second house buyers or downgraders often above this market. 
"Pandemic conditions have not brought any significant price decreases in our market, however there is still a decent level of uncertainty in the short to medium term as government stimulus packages and local and macro economies grapple with a recession." the valuation firm said. 
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What a lazy $700,000 can buy in Illawarra: HTW residential  

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GUEST OBSERVER
The announcement of stage 4 restrictions in Victoria marks a new, and depressing, stage in Australia’s response to COVID-19.<a href="https://theconversation.com/profiles/brendan-coates-154644"></a>
The new measures will close non-essential retailers and most <a href="https://theconversation.com/victorias-child-care-shutdown-is-a-hard-blow-for-working-mothers-143837">child-care centres</a> across Melbourne, and impose stringent controls on industries such as meatworks and construction. The Victorian government estimates the measures will stop a further <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-08-03/victoria-coronavirus-cases-up-429-more-businesses-forced-to-shut/12517344">250,000 workers</a> from travelling to work.
The Victorian economy will probably be <a href="https://theconversation.com/eradicating-the-covid-19-coronavirus-is-also-the-best-economic-strategy-136488">better off</a> with this sharper, hopefully shorter lockdown than persisting with Stage 3 restrictions for many months.
The federal government has taken the sensible step of announcing pandemic leave disaster payments of $1,500 for those Victorians that need to isolate for 14 days. But it will need to do more to help Victorian businesses and households make it safely to the other side.
Victoria was already struggling before stage 4
Even before Sunday’s announcement of Stage 4 restrictions, economic activity in Melbourne was back down to similar levels to the first shutdown. Movement around the city, as measured by the number of times people used Apple Maps to get directions, was about half its February level.
By comparison, in Perth (where the virus has been effectively suppressed) drivers were out and about a little more than in February. Sydney was more or less back to normal, with a slight dip at the end of July as people curtailed their movements a little. Across all three cities public transport use remains dramatically below its normal levels, with Melbourne much further away from normal than Sydney and especially Perth.
<img src="https://images.theconversation.com/files/350806/original/file-20200803-14-nshjlb.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Movement in three cities.
The number of jobs in Victoria was <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/D90A6BA872BC19D7CA25854F008214D1?opendocument">7.3% lower</a> in mid-July than in mid-March, a deeper fall than any other state. In inner Melbourne, the number of jobs was down nearly 10% from mid-March levels. Eight of the ten federal electorates hardest-hit by job losses are now in Victoria. Without JobKeeper, the picture would be much worse.
<img src="https://images.theconversation.com/files/350808/original/file-20200803-16-18cxz7a.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Jobs in three states.
Under the new restrictions on workplaces in Melbourne, employment in construction, manufacturing and retail will plummet. These industries employ about 900,000 Victorians between them. Not all of these people will be thrown out of work, but many will.
JobKeeper and JobSeeker are needed even more
The federal government should reconsider <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">its plans</a> to begin winding back JobKeeper and JobSeeker payments after September. JobKeeper is set to fall from A$1,500 to A$1,200 for full-time workers, and to A$750 for part-timers. And JobSeeker falls from $1,215 to $815 a fortnight.
These income-support programs were absolutely necessary in March when Stage 3 restrictions were imposed. They are even more necessary now, as Stage 4 restrictions put an even tighter clamp on economic activity, stretching many businesses to breaking point and throwing more Victorians out of work.
The “<a href="https://theconversation.com/how-to-get-both-jobkeeper-and-jobseeker-143109">tapering</a>” of these support payments clearly cannot happen from late September, as currently scheduled.
By the end of September Victoria will hopefully be out of Stage 4 restrictions. But at best Melbourne will be back to Stage 3, the same level of restrictions for which the federal government to introduced the JobKeeper and the JobSeeker schemes.
The eligibility rules for JobKeeper should also be reconsidered.
Some businesses whose revenue did not fall enough to qualify for JobKeeper in March will now take a bigger hit. Other companies that qualified in March but saw a rebound in June will be excluded by the current rules from receiving JobKeeper beyond September.
The federal government COVID-19 <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-08-03/federal-government-to-create-disaster-payment-coronavirus-leave/12518580">“disaster payment” </a> should help address the crucial problem of those without paid leave entitlements being forced to choose between self-isolating and going to work to pay their bills. But the scheme is palliative rather than preventative, since it only applies in states once community transmission has ramped up to disaster levels.
Two-speed economy
The diverging fortunes of Victoria and the rest of Australia gives new meaning to the term “<a href="https://treasury.gov.au/sites/default/files/2019-03/02_Resources_boom.pdf">two-speed economy</a>”.
The federal government may be reluctant to do what’s needed just for one state, given the recovery is progressing elsewhere, but that would be a mistake. Victoria accounts for one quarter of the national economy. There is no “<a href="https://www.afr.com/politics/federal/victoria-to-help-foot-the-bill-in-state-of-disaster-20200802-p55hrl">moral hazard</a>” here. No state is going to allow thousands of its citizens to catch a deadly virus on the expectation the federal government will turn on the fiscal taps.
The federal government should waste no time wrangling over who pays the costs of getting through the crisis. Trying to split the bill with Victoria will take valuable time, and only concentrate costs on the state hardest hit by the crisis.
Last week the federal government finalised arrangements to borrow A$15 billion through <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598">issuing 31-year bonds</a>. These bonds have a fixed interest rate of 1.94%, below the bottom of the Reserve Bank’s inflation target band.
 
That means investors buying the bonds were willing to lend money to the federal government and most likely get back less, in inflation-adjusted terms, three decades from now. And investors were queuing up to buy them. In fact the government could have sold <a href="https://www.aofm.gov.au/program/forthcoming-transactions/pricing-new-june-2051-treasury-bond">A$37 billion worth</a>, rather than A$15 billion.
The federal government should use this ample fiscal firepower to ensure Victorians get through this crisis. Australia’s economy won’t recover unless Victoria does too.<img src="https://counter.theconversation.com/content/143840/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/brendan-coates-154644">Brendan Coates</a>, Program Director, Household Finances, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/matthew-cowgill-729072">Matthew Cowgill</a>, Senior Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australia-wont-recover-unless-victoria-does-too-the-federal-government-must-step-up-143840">original article</a>.
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Australia won't recover unless Victoria does too

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GUEST OBSERVATION
Gone are the days when economic policy was adjusted once each year by the government in the budget and fine-tuned once each month at meetings of the Reserve Bank board.
The coroanvirus means we haven’t had a budget in <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/2020-21-budget-announcement">more than a year</a>. What the Reserve Bank has done to interest rates means its monthly board meetings matter less.
Governor Philip Lowe reaffirmed this week that monetary policy was <a href="https://www.rba.gov.au/speeches/2020/sp-gov-2020-07-21">on hold</a> for the foreseeable future. The bank’s cash rate is as low as it can go (actually well <a href="https://www.rba.gov.au/speeches/2020/images/sp-dg-2020-06-30-graph03.gif">below</a> its 0.25% target) and the bank will only intervene in the bond market if it has to in order to keep bond rates low (which it doesn’t — the demand for even the rush of new bond issues is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-17/record-australian-government-bond-auction-coronavirus-covid-19/12158390">much bigger</a> than the supply).
It has lobbed the ball to Frydenberg’s side of the court.
The only situation in which it might be brought back into play is if the government ran into funding problems, of which there is no sign whatsoever.
Holding the racket
The treasurer’s problem is sequencing, and we will are likely to get hints on how he’ll play it in the <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/update-economic-and-fiscal-outlook">economic statement</a> to be released today.
The first challenge was to limit the damage to the economy from the initial shock near the start of the year — to stop a vicious cycle of weaker spending, plummeting investment and soaring unemployment.
These self-reinforcing crises required a circuit breaker.
The emergency stimulus provided through Jobkeeper and Jobseeker has been a great success at putting a floor under incomes and demand.
The government ensured a basic income for people whose jobs were axed or at risk, kept hundreds of thousands attached to their jobs and bolstered household incomes despite a massive loss of activity. It gets a tick.
But these emergency measures will not get the economy going again once the crisis has eased.
Some argue they will stand in the way of a recovery if they keep people ensconced on benefits or attached to firms without futures.
A tricky transition
Phase two will require genuine fiscal stimulus: not a security blanket of the kind we have had, but a direct injection of money that will spark a new wave of investment and employment.
The trick is to sequence it properly.
The announced tapering of <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">JobKeeper</a> and <a href="https://theconversation.com/how-to-get-both-jobkeeper-and-jobseeker-143109">JobSeeker</a> will cut incomes and cut jobs as firms pay people less and realign staff levels in line with lower subsidies.
The government believes it has got it right, but it is forecasting an 80% drop in JobKeeper payments between September and the end of the year. It might not be a <a href="https://theconversation.com/whatll-happen-when-the-moneys-snatched-back-our-looming-coronavirus-support-cliff-138527">cliff</a> but it is still a very steep slope that will need to be matched by a sharp recovery in economic activity.
It needs to be ready to revise the timetable as needed. Its current projections look like a best case scenario.
An unknowable stage two
The second stage will involve a good deal of spending on infrastructure. But, especially without certainty about immigration, it is hard to tell what will be needed.
The pandemic will have changed the way we work and play. It is not yet clear whether people take advantage of remote working and move out of congested cities. it is not yet clear what it will mean for digital health, digital education and digital shopping.
An even-harder stage three
The final stage will involve structural reforms; alterations to tax settings, regulations and industrial relations. Which is where it gets really hard. It will require not only sequencing but getting agreement across the political divide.
No civil society can base its economic and social structures on the mere desire for efficiency. Fairness and social justice matter just as much, and they can best be guaranteed if the measures are pulled together as a package with trade-offs that protect the values that matter to Australians.
That’ll be Frydenberg’s biggest challenge. The future doesn’t need to be rushed out this week, or in the October Budget, but in the months to come it’ll have to take shape.
 
<a href="https://theconversation.com/profiles/warren-hogan-530397">Warren Hogan</a>, Industry Professor, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/frydenbergs-three-stage-economic-recovery-is-abominably-hard-to-get-right-142841">original article</a>.
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Frydenberg's three-stage economic recovery is abominably hard to get right

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GUEST OBSERVER
What do <a href="https://bicyclensw.org.au/wp-content/uploads/2020/05/966-0320-Summary-of-Principles-for-Good-Bike-Infrastructure-070520.pdf">bike paths</a> and <a href="https://theconversation.com/city-temperatures-and-city-economics-a-hidden-relationship-between-sun-and-wind-and-profits-116064">walk-friendly streets</a> have to do with economic recovery from a pandemic-induced <a href="https://theconversation.com/how-will-the-coronavirus-recession-compare-with-the-worst-in-australias-history-136379">recession</a>? How could removing a car parking space <a href="https://www.bloomberg.com/news/articles/2015-03-13/every-study-ever-conducted-on-the-impact-converting-street-parking-into-bike-lanes-has-on-businesses">benefit a local business</a>? Instead of considering such questions, <a href="https://doi.org/10.1016/j.erss.2020.101486">building roads for cars</a> is often seen as the obvious answer to “kick-start” the economy.
In this article, we explain how cycling and walking infrastructure is a better investment for recovery. Every kilometre walked or cycled has an <a href="https://doi.org/10.1016/j.tranpol.2008.11.001">economic</a> <a href="https://www.atap.gov.au/mode-specific-guidance/active-travel/5-estimation-of-benefits">benefit</a> by reducing traffic congestion and vehicle operating costs, improving health and the environment, and saving on infrastructure spending. It’s <a href="https://www.euro.who.int/en/health-topics/disease-prevention/physical-activity/publications/2008/economic-analyses-of-transport-infrastructure-and-policies-including-health-effects-related-to-cycling-and-walking-a-systematic-review">estimated</a> every dollar invested in cycling infrastructure may reap up to five dollars’ worth of benefits.
In Australia, however, walking and cycling only receive between <a href="https://bicyclensw.org.au/lagging-behind-the-pack-correction/">0.1%</a> and <a href="https://theconversation.com/cycling-and-walking-are-short-changed-when-it-comes-to-transport-funding-in-australia-92574">2%</a> of transport budgets.
A sustained lack of investment is one reason only <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyReleaseDate/7DD5DC715B608612CA2581BF001F8404?OpenDocument">5% of trips to work</a> in Australia are by foot or bicycle. Yet the majority of city journeys are <a href="https://www.vichealth.vic.gov.au/-/media/ProgramsandProjects/PlanningHealthyEnvironments/Attachments/vhtransch3.pdf?la=en&amp;hash=BD49C15BA932B97CF11275C5EE7CEA85A17176F3">short enough to walk or cycle</a> for most people.
With <a href="https://theconversation.com/cars-rule-as-coronavirus-shakes-up-travel-trends-in-our-cities-142175">people now shunning public transport</a>, our roads are becoming even more congested. In a win-win scenario, walk-friendly and bike-friendly <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">design</a> can improve driving conditions, because fewer vehicles clog the roads. So instead of just building roads, is now not the time also to invest in <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">proper</a> walking and cycling infrastructure?
 
Road building versus path building
Road building is typically <a href="https://doi.org/10.1016/j.erss.2020.101486">depoliticised</a> and so is widely <a href="https://doi.org/10.1016/j.erss.2020.101486">seen as a legitimate way</a> to stimulate economic growth. But simply building more roads may not reduce traffic or speed up journey times in the long term.
Road building leads to more traffic through <a href="https://theconversation.com/do-more-roads-really-mean-less-congestion-for-commuters-39508">induced car use</a> and <a href="https://doi.org/10.1016/j.erss.2020.101486">car dependence</a>. If the default option for short journeys is driving, <a href="https://theconversation.com/rethinking-traffic-congestion-to-make-our-cities-more-like-the-places-we-want-them-to-be-111614">congestion ultimately gets worse</a> as the population grows.
Australians make <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mediareleasesbyreleasedate/7DD5DC715B608612CA2581BF001F8404?OpenDocument">three-quarters</a> of all trips to work by car. Most have no passengers.
Yet more than half of car journeys in cities are <a href="https://www.vichealth.vic.gov.au/-/media/ProgramsandProjects/PlanningHealthyEnvironments/Attachments/vhtransch3.pdf?la=en&amp;hash=BD49C15BA932B97CF11275C5EE7CEA85A17176F3">shorter than 5km</a>. These trips would be <a href="https://www.atap.gov.au/mode-specific-guidance/active-travel/5-estimation-of-benefits">well suited to walking and cycling</a>. <a href="https://healthyactivebydesign.com.au/design-features/movement-networks">Safe and enticing</a> walkable streets and cycling paths are key to inducing this swap.
Australia has already committed billions of dollars to <a href="https://www.smh.com.au/national/nsw/first-look-inside-sydney-s-3-billion-northconnex-tunnel-20200622-p554zh">road-building</a> projects as well as community infrastructure to “<a href="https://www.facebook.com/watch/live/?v=301290454378292&amp;ref=watch_permalink">grow out of the COVID-19 recession</a>”. Ultimately, though, if we want less traffic, we need to invest more of this money in walkable streetscapes and safe separated bike paths.
This investment will increase walking and cycling, leading to the many benefits that flow from these behaviours. And enticing people out of their <a href="https://theconversation.com/to-get-people-out-of-cars-we-need-to-know-why-they-drive-27279">comfy cars</a> for short journeys will result in fewer trips by car.
 
What transport budgets tell us
Comparing Australian budgets to other countries’ investment in active transport modes, we’re not doing well. Budgets would have to increase at least tenfold to achieve the United Nations recommendation that <a href="https://europa.eu/capacity4dev/file/31600/download?token=jJbDKsE3">20% of the transport budget</a> be invested in “non-motorised transport”.
And many countries have moved rapidly to commit major investments to cycling and walking since COVID-19. For example, <a href="https://static.rasset.ie/documents/news/2020/06/draft-programme-for-govt.pdf">Ireland</a> recently committed <a href="https://www.forbes.com/sites/carltonreid/2020/06/15/former-bike-shop-owner-soon-to-be-irelands-prime-minister-secures-1-million-a-day-for-5-years-boost-for-walking-and-cycling/#bd04c8a5c012">billions of euros</a> to walking and cycling infrastructure, equivalent to 20% of its transport budget.
Considering our lack of investment, it’s easy to see why Australia is car-dependent. This is despite Australia having both great <a href="https://www.sciencedirect.com/science/article/pii/S0966692314001951">weather</a> and <a href="https://bicyclensw.org.au/big-country-wider-car-lanes/">wide roads</a> to accommodate increased space for cycling and walking.
An equity issue
<a href="https://profile.id.com.au/australia/car-ownership">Many</a> Australians, for reasons of disadvantage, disability or age, may not have access to a car. The typical cost of owning a car is <a href="https://www.savings.com.au/car-loans/ongoing-car-costs">A$300 per week</a>. Increasing spending on walking and cycling infrastructure will therefore improve equity by helping low-income earners and others who need inexpensive mobility.
Poor active transport infrastructure disproportionately disadvantages women. They cycle less than men and report a need for the safety of separated cycleways among other infrastructure.
Poor infrastructure also <a href="https://aifs.gov.au/cfca/publications/relationship-between-transport-and-disadvantage-austr">limits</a> children, older adults and people living with a disability from accessing the services they need. Many older Australians depend on public transport and on the quality of the walking environment around their homes and their most common destinations.
On average, <a href="https://www.budgetdirect.com.au/car-insurance/research/car-accident-statistics">three people a day die</a> on Australian roads. Fewer car trips would help reduce the road toll. Similarly, increased investments in separated spaces for cycling and walking, as well as lower speeds on local streets, will reduce collisions between cars and bikes, as well as pedestrian-motorist conflicts.
COVID-19 provides a unique opportunity
COVID-19 has led to a <a href="https://www.theguardian.com/lifeandstyle/2020/apr/22/bicycles-are-the-new-toilet-paper-bike-sales-boom-as-coronavirus-lockdown-residents-crave-exercise">boom</a> in bicycle sales, <a href="https://t.co/uzUch4mVEH?amp=1">reduced</a> speed limits, wider footpaths, <a href="https://www.transport.nsw.gov.au/news-and-events/media-releases/new-pop-up-cycleways-to-help-us-get-back-to-work-and-school">pop-up</a> bicycle <a href="https://www.theage.com.au/national/victoria/car-parks-out-footpaths-and-cycling-lanes-in-as-city-prepares-for-post-covid-commuters-20200507-p54qrp">lanes</a>, increased walking and <a href="https://doi.org/10.32866/001c.13405">new cyclists</a>. Some of this has come about following <a href="https://www.newcastleherald.com.au/story/6736341/why-city-needs-to-be-put-on-a-road-diet/?cs=4464">calls</a> <a href="https://drive.google.com/file/d/1-dBhS2mhOX6y8aH6MWYfg1J483Bz8o8j/view">for</a> “<a href="https://www.spaceforhealth.org/">Space For Health</a>”.
We should “<a href="https://www.facebook.com/watch/live/?v=301290454378292&amp;ref=watch_permalink">grow out of the COVID-19 recession</a>” by building back better through investment to sustain this increase in walking and cycling. Our call to action is therefore:
<img src="https://images.theconversation.com/files/347548/original/file-20200715-27-3i49wz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="A call to action for COVID-19 Walking and Cycling Infrastructure Investment"> 
While Australia’s cities have invested in walking and cycling during the COVID-19 pandemic, it’s less than some <a href="https://www.forbes.com/sites/carltonreid/2020/02/10/prime-minister-boris-johnson-pledges-5-billion-in-new-cash-for-buses-and-bicycle-infrastructure/#8b1ff706df6f">other</a> countries have invested. For example, Paris has accelerated the installation of <a href="https://www.forbes.com/sites/carltonreid/2020/04/22/paris-to-create-650-kilometers-of-pop-up-corona-cycleways-for-post-lockdown-travel/#13d8daa654d4">650km</a> of cycleways by removing <a href="https://www.forbes.com/sites/carltonreid/2020/04/22/paris-to-create-650-kilometers-of-pop-up-corona-cycleways-for-post-lockdown-travel/#13d8daa654d4">72% of its on-street parking</a>. Scotland is proposing to “<a href="https://www.livingstreets.org.uk/media/5413/walk-back-better-national-walking-strategy-delivery-forum-statement.pdf">Walk Back Better</a>” from COVID-19
It is good to see investment in Australian cities increasing. But now is the time to help kick-start our COVID-19 recovery by investing more in walking and cycling, and to reap the many benefits for the Australian community.<img src="https://counter.theconversation.com/content/142176/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/matthew-mclaughlin-346591">Matthew Mclaughlin</a>, PhD Candidate, School of Medicine and Public Health, <a href="https://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a> and <a href="https://theconversation.com/profiles/trevor-shilton-306978">Trevor Shilton</a>, Adjunct Professor, School of Public Health, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cycling-and-walking-can-help-drive-australias-recovery-but-not-with-less-than-2-of-transport-budgets-142176">original article</a>.
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Cycling and walking can help drive Australia's recovery

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GUEST OBSERVER
We’ve heard a lot about what the present crisis will do to <a href="https://propertyupdate.com.au/coronavirus-how-will-it-impact-australias-property-markets/">home</a> <a href="https://www.theguardian.com/australia-news/2020/mar/16/how-will-coronavirus-affect-australias-real-estate-market-and-house-prices">prices</a>, less about what it will do to <a href="https://www.commercialrealestate.com.au/news/office-property-now-in-covid-19-firing-line-969479/">commercial property</a> prices.
Commercial properties include office buildings, shopping centres, hotels and warehouses.
They account for <a href="https://www.superannuation.asn.au/ArticleDocuments/269/SuperStats-Jun2020.pdf.aspx?Embed=Y">8%</a> of the assets of Australian super funds.
<a href="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Melbourne’s Wesley Place commercial precinct is owned by a property trust.
If their values drop (and they are falling) it will affect all of us, especially those about to retire or already retired.
Until COVID-19, commercial properties were widely regarded as safe investments. They offered both reliable income streams and capital gains as population growth increased the value of scarce real estate.
With the return on government bonds falling <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598">below 1%</a> they ought to be becoming more attractive, but offices are empty, their future uncertain, high end shopping centres are receiving less traffic, and hotels have entire floors unused.
<a href="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In July the number of mobile phones active in Sydney’s central business district was down <a href="https://www.roymorgan.com/findings/8486-roy-morgan-ubermedia-covid-19-movement-sydney-june-27-2020-202008040143">52%</a> on January and February. In Melbourne’s CBD, before the stage 4 lockdown, mobile phone traffic was down <a href="https://www.roymorgan.com/findings/8476-roy-morgan-ubermedia-covid-19-movement-melbourne-july-28-2020-202007270623">65%</a>.
<a href="https://www.smh.com.au/business/companies/data-centres-in-hot-demand-with-remote-working-on-the-rise-20200804-p55ih6">Data centres</a> are among the few commercial property bright spots – we are moving more data – along with distribution centres and <a href="https://www.smh.com.au/business/companies/neighbourhood-malls-flourish-as-shoppers-stay-local-20200723-p55eto">regional shopping centres</a> – we are shopping online and closer to home.
Over the course of the year the values of commercial property trusts listed on the Australian Securities Exchange have slid <a href="https://www.asx.com.au/asx/share-price-research/company/DXS">29%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/GPT">32%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/MGR">34%</a>,<a href="https://www.asx.com.au/asx/share-price-research/company/SCG">48%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/VCX#company-top">52%</a>, and <a href="https://www.asx.com.au/asx/share-price-research/company/URW">69%</a>.
<a href="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Share price of GPT Group. GPT owns and manages retail, office and logistics properties. 
For super funds with 8% of their assets in commercial property, a decline of 25% in values knocks 2% off their assets — A$54 billion across the industry as a whole.
In the only other big downturn since the advent of Australia’s superannuation system, the global financial crisis, commercial property offered the funds stability while shares were volatile.
Not so this time. The value of the commercial property is diving along with the stock market with just as uncertain a future.<img src="https://counter.theconversation.com/content/143824/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/theodore-connell-variy-1142418">Theodore Connell-Variy</a>, Lecturer, School of Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/tony-mcgough-1142730">Tony McGough</a>, Senior Lecturer, Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/warning-what-covid-is-doing-to-commercial-property-it-is-about-to-do-to-super-funds-143824">original article</a>.
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What COVID is doing to commercial property it is about to do to super funds

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The Reserve Bank of Australia has released a new report titled The Apartment Shortage which identifies costs created by the NSW planning system.
It outlines the resultant shortages in supply driving up prices and has been accepted by experts such as Urban Taskforce CEO, Tom Forrest.
The RBA found that the excessive planning restrictions associated with delivering apartments in inner Sydney were disproportionately high.
By comparing the planning regulation cost of bringing a new home to completion in NSW with other jurisdictions, it highlighted the need for significant reform to planning regulation in NSW.
<img src="https://www.urban.com.au/images/2020/8/6/Apt%20Shortage%201.JPG" alt="">
The Apartment Shortage Report found home buyers will pay an average of $873,000 for a new apartment in Sydney, even though it only costs $519,000 to supply, a gap of $355,000 (68 per cent of costs).
This compares with smaller gaps of $97,000 (20 per cent of costs) in Melbourne and only $10,000 (2 per cent of costs) in Brisbane.
Significantly, the report concluded that "the gap between the supply cost and the delivery to market cost was sustained by planning restrictions and planning risk."
Click <a href="https://www.propertyobserver.com.au/images/2020/8/6/Apt%20Shortage%202.JPG" target="_blank">here to enlarge</a>:
<img src="https://www.urban.com.au/images/2020/8/6/Apt%20Shortage%202.JPG" alt="">
Mr Forrest said, "the additional costs are due to the excessive time taken to obtain approvals in the NSW planning system and the high degree of risk associated with approvals, despite the strong demand for new apartments."
"Given the economic shock created by COVID-19, the RBA's independent confirmation of the excessive costs associated with the NSW planning system presents an opportunity for the NSW Government to cut housing prices by approving more supply and allowing for more height."
"The fact remains that the planning system had slowed the planning approval process even before COVID-19 hit. Planning approvals, particularly for apartments, have now fallen off a cliff."
"This important piece of independent research cannot be ignored by policy makers in NSW", Mr Forrest concluded.
Many projects have also been derailed as confidence sinks and by delivery difficulties, most notably in Melbourne where work sites have been hit by tough restrictions.
You can read the full RBA report <a href="https://www.rba.gov.au/publications/rdp/2020/pdf/rdp2020-04.pdf" target="_blank">here.</a>
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New RBA report finds NSW planning has caused apartment shortage

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Victorian Premier Dan Andrews announced restrictions today as part of a Stage 4 lockdown.
Changes affecting the real estate industry include those to the construction sector which will move to pilot light levels. 
For major construction sites that means no more than 25 per cent of the normal workforce onsite.
Small-scale construction will be limited to a maximum of five people onsite.
He said, "To date, we've almost halved the number of people onsite on some of our biggest Government projects. Now we're going to go through project by project, line by line to make sure they are reduced to the practical minimum number of workers."
These workplaces that are continuing to operate will also have additional requirements including extra PPE, staggering shifts, staggering breaks, health declarations and more support for sick workers to ensure they stay home.
Melbourne’s property market will be able to continue to operate under tough, new stage four restrictions.
And property sales in major regional cities such as Geelong and Ballarat will face a similar market to Melbourne, with stage three restrictions to be introduced across the rest of the state from Wednesday.
Under both stage three and four restrictions, only one-on-one private inspections and online auctions will be able to go ahead, allowing buying and selling to continue.
"First, supermarkets, grocery stores, bottle shops, pharmacies, petrol stations, banks, newsagencies, post offices — plus everyone involved in our frontline response — will continue to operate."
"Second, Industries where onsite operations will have to cease for the next six weeks including retail, some manufacturing and administration. These businesses will all need to close by 11:59pm Wednesday 5 August, unless they have specific circumstances that mean they need longer to shutdown safely."
"The third and final list is made up of industries that are permitted to operate — but under significantly different conditions."
"For those businesses that suffer significant losses or need to close as a result of the current restrictions, we will provide support through our expanded Business Support Fund," he added.
Businesses in regional Victoria can apply for a $5,000 grant while those in Melbourne and Mitchell Shire can apply for up to $10,000 in recognition of spending longer under restrictions.
Under the recent Stage 3 restrictions it was announced real estate inspections will be by appointment only and auctions will be conducted remotely.
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Construction industry moves to 'pilot light' status under Stage 4 restrictions

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A four bedroom apartment in Brisbane's New Farm with city views has been sold for $4.81 million. 
The fifth level apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-new+farm-133864838" target="_blank">3511/30 Hollins Street </a>was renovated in 2018. 
It comprises master bedroom suite, three additional bedrooms, designer gourmet kitchen, theatre room and multiple balconies. 
The 294sqm apartment overlooks the iconic Refinery Building and the Brisbane River. 
It is located within a short walk to Powerhouse Theatre, New Farm Park and the village. 
Brett Greenshill and Andrea Crossan of McGrath Estate Agents New Farm had the listing. 
The property was last sold in 2005 for $3.1 million. 
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New Farm apartment with city views sold for $4.8 million

<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;

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“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;

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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;

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&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.

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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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