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EXPERT OBSERVER
Aussie home prices continued to ease in July with the CoreLogic Daily Home Value index of five capital cities down by 2.3 per cent after peaking on April 22. In July, broader national dwelling prices fell by 0.6 per cent, capital city home prices were down 0.8 per cent, but regional home prices were broadly flat.
Attention will focus on the property downturn in Australia’s two most populous cities – Sydney and Melbourne – with virus lockdowns and outbreaks weighing on sentiment and activity. While price declines are broadening across capital cities, regional dwelling prices held up in July, led by gains in regional South Australia (up 1 per cent), Northern Territory (up 0.7 per cent) and New South Wales (up 0.5 per cent). Of course, regional home prices may continue to outperform capital cities in the near-to-medium term as Aussies work remotely and seek lifestyle locations in rural and beachside towns during the pandemic.
And Canberra’s property market appears to be benefiting from the prominent role of the Federal Government and growing public service policy response to the economic downturn. In fact, home prices rose by 0.6 per cent in the nation’s capital in July – the seventh successive month of price increases. REA Group recently reported, “Buyer search activity has more than doubled compared to last year and has seen the biggest increase in search since the first COVID-19 lockdown in March. Rent search activity is up 75 per cent compared to last year, and first home buyer enquiry has tripled compared to the same time last year.”
The Melbourne virus lockdown - with property sales and auctions now being conducted online – had a notable impact on home prices, which fell by 1.2 per cent in July –the biggest decline since January 2019. Melbourne home prices are down by 3.7 per cent since recent peaks on April 6, weighing on national home prices.
With the Victorian Government declaring a ‘state of disaster’ – including the imposition of curfews limiting movements for a further six weeks – it is likely that Melbourne auction clearance rates could return to levels seen in April of around 20 per cent or lower. Data from Domain already shows that just 285 Melbourne homes were listed for sale last week, down 46 per cent from the previous week, with a preliminary auction clearance rate of 58 per cent.
What do the figures show?
Home prices - July
The CoreLogic Home Value Index of national home prices fell by 0.6 per cent in July. But home prices were still 7.1 per cent higher over the year.
In capital cities, prices fell by 0.8 per cent, but prices were still up 7.9 per cent over the year. House prices also fell by 0.8 per cent in July and apartment prices eased by 0.6 per cent. House prices were still up 8.1 per cent on a year ago and prices of apartments increased by 7.5 per cent.
In regional areas, home prices were flat in July with house prices unchanged, but apartment prices rose by 0.1 per cent. Regional home prices were up 3.9 per cent on the year to July.
The average Australian capital city house price (median price) in July was $673,072 and the average unit price was $570,862.
Home prices were lower in six of the eight capital cities in July. Home prices fell by the most in Melbourne (down 1.2 per cent), followed by Sydney (down 0.9 per cent), Perth (down 0.6 per cent), Brisbane (down 0.4 per cent), Darwin (down 0.3 per cent) and Hobart (down 0.2 per cent). But prices rose in Canberra (up 0.6 per cent) and Adelaide (up 0.1 per cent).
Home prices were higher than a year ago in six of the eight capital cities in July. Prices rose the most in Sydney (up 12.1 per cent), followed by Melbourne (up 8.7 per cent), Canberra (up 7.2 per cent), Hobart (up 5.9 per cent), Brisbane (up 3.8 per cent) and Adelaide (up 2.4 per cent). But prices were down in Perth (down 2.5 per cent) and Darwin (down 2.2 per cent).
Total returns on national dwellings rose by 10.9 per cent in the year to July with houses up by 10.7 per cent on a year earlier and units up by 11.4 per cent. In contrast, the S&amp;P/ASX All Ordinaries Accumulation Index fell by 8.4 per cent over the year to July.
Manufacturing Purchasing Managers’ indexes - July
The AiGroup’s Performance of Manufacturing Index rose by 2 points to 53.5 in July. Any reading above 50 indicates an expansion in activity.
The improvement in factory activity was broad-based, including production (up 4.1 points to 56.4), employment (up 3.8 to 53.4 points), supplier deliveries (up 4.2 to 51.8), and finished stocks (up 5.3 to 51.8). But new orders (down 3 points to 52.7), exports (down 5.8 points to 41.4) and sales (down 3.9 points to 52.2) all eased.
The AiGroup said, “There was a further stabilisation in manufacturing conditions in July. Food &amp; beverage manufacturers noted stabilising demand after months of volatility, while the instant asset tax write-off increased sales for many machinery &amp; equipment manufacturers. Other respondents in this sector noted an increase in demand from the transport and agricultural machinery &amp; equipment. Respondents across all manufacturing sectors noted increased interest in locally made manufactured goods.”
And, “The improvement in manufacturing conditions in July was driven by only two sectors: food &amp; beverages and machinery &amp; equipment. Metal products; chemicals; building materials, wood, furniture &amp; other manufacturing remained firmly in contraction in July. Manufacturers in these sectors reported a lack of sales from customers due to COVID-19. Some respondents noted that they have completed previous orders but had few new orders coming in.”
The ‘final’ CBA/IHS Markit Manufacturing Purchasing Managers' Index rose from 51.2 in June to 54 in July. Any reading above 50 indicates an expansion in activity.
According to CBA/IHS Markit, “The recovery in the Australian manufacturing sector gathered pace in July, according to the latest PMI data, with output and new orders both returning to growth. Survey data also showed that firms stepped up their purchasing activity and business confidence remained positive. However, employment continued to be reduced despite a rise in backlogs of work. Prices meanwhile signalled weakened inflationary pressures, with input prices and output charges increasing at slower rates.”
What are the implications for interest rates and investors?
While CoreLogic’s national home value index is heavily skewed towards to the two big cities, the resilience displayed so far by regional property markets serves to highlight the nationwide variances in performances across capital cities and regional towns. The ACT, in particular, appears set to benefit from rising government employment as services are increasingly rolled out to assist Aussie households and businesses during the pandemic.
The pandemic also appears to be resulting in a change of mindset for some big city urban dwellers. In July, home prices in the Blue Mountains and Central Coast were up modestly. The allure of more affordable housing, remote working arrangements and superior lifestyle choices are already showing up in relatively stable home prices and lower rental vacancies in both regions of New South Wales.
Record low interest rates and mortgage relief from the banks have provided support to the property market. But virus uncertainty, less appetite to take on more mortgage debt, rising unemployment, lower household incomes, lower inbound migration, elevated rental vacancies and the eventual removal of policy support could weigh on property prices over coming months. That said, governments have rolled out a variety of measures, including stamp duty and land tax concessions, along with new residential homebuilding grants to stimulate the market.
The expansion in Aussie manufacturing activity continued into July in a pleasing development for policymakers. Importantly, the improvement in the AiGroup gauge was driven by higher production and employment, but an easing in new orders and falling exports will need to be closely monitored.
Commonwealth Bank Group economists also noted that, “Business expectations remained positive as firms look towards the economy returning to normality in the coming months. Policy stimulus and increased infrastructure work were also factors behind the optimism.” But given Melbourne’s importance as a manufacturing hub, the tightening of restrictions are likely to weigh on demand and confidence in August.
RYAN FELSMAN is a Senior Economist at CommSec
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Regional home prices have remained resilient: CommSec's Ryan Felsman

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EXPERT OBSERVATION
The new approach to build-to-rent, announced by Treasurer Dominic Perrottet and Planning Minister Rob Stokes, will deliver increased investment into purpose built rental housing and drive prices down. 
The number 1 reason why property prices in Sydney are so high is the of a lack of supply.  This applies to the rental market as well as the sales market for houses and apartments. Today’s announcement will result in greater investment and more supply.
The Urban Taskforce has been at the forefront of calling for taxation concessions to encourage more investment into Build to Rent.  Today’s announcement does just that and is very welcome news for renters and for jobs.
Urban Taskforce has been calling for the NSW Government to scrap the foreign investor surcharges on residential developments, saying that these taxes are punitive and act to prevent investment in a market that is desperately in need of stimulus and funding.
Today’s announcement demonstrates that on tax matters, the NSW Government has been listening. Foreign investor surcharges will be exempt for the ‘build-to-rent’ market provided construction begins after July 1 this year.
Urban Taskforce calls on all political parties to pass this legislation through the Parliament as soon as possible, in the interests of investment, jobs and lower prices for renters across NSW.
‘Build-to-rent’ means that the entire building is owned by one entity.  It is not split into individual units and sold to buyers through a strata plan. 
The building is designed from the start to the owned and managed for the life of that structure as be available for rental accommodation. 
This is attractive for institutional investors including superannuation funds and is a form of investment in housing that is widely used in England and in North America. 
It also enables renters to access long term rent al leases and generates a genuine choice for consumers who choose not to buy a home. 
Tom Forrest is the CEO of Urban Taskforce.
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Tax cut for Build-to-Rent projects will attract investment: Tom Forrest

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Despite a backdrop of political unrest and uncertainty driven by COVID-19, the Asia-Pacific flexible office market has remained strong over the past 12 months. According to <a href="https://www.instantoffices.com/blog/instant-offices-news/apac-flexible-office-market-summary-2020/" target="_blank">Instant’s latest report</a>, the industry is in a good position to benefit as companies across the region adjust their office strategies.
The flexible office market remained strong in the Asia-Pacific region over the past 12 months despite a tumultuous backdrop of political unrest and social uncertainty driven by COVID-19. And the industry appears well placed to benefit from the changes to office strategy from companies across the region. 
The resilience of client demand in the face of these issues points to a bright future for the Asia-Pacific Flexible office solution and suggests that the broader approach to the procurement and operation of offices has changed for the long-term.  The data comes from The Instant Group, the global specialist in flexible workspace, with more than 20 years’ experience in the market.  
Supply of flexible workspace – consisting of coworking, serviced offices and spaceasaservice– grew by 19 per cent over the past 12 months in the region, the third successive year of high growth. 
There are now nearly 10,000 centres for flexible workspace in the region, meaning that it is fast catching the more established markets of Europe and the US, despite its relative immaturity.  Seven of the ten fastest growing markets for flexible workspace are now in Asia.  
“The impact of COVID-19, the first Black Swan event to be seen in a generation, has been severely felt across the industry and is not something that we can ignore. The trends that we expect to see during 2020 will no doubt be very different to what the industry has seen in the past, but the long term future still looks very healthy,” explained Sean Lynch, Managing Director of the Instant Group in Asia-Pacific.  
“A trend that started with younger workers looking for short-term, flexible space has become a key tool for businesses of all sizes and is a trend that we predict will only grow in momentum across the Asia-Pacific region in the coming months as those companies that have expiring leases look at ways to futureproof their workplace strategy.”
The flexible office market in Asia-Pacific is growing at a rapid pace. Of the top 20 cities across the region, 60 per cent witnessed double digit growth in supply throughout 2019. Growth in Hong Kong has slowed compared to previous years, with Sydney, Kuala Lumpur, Singapore and Jakarta overtaking in 2019. 
Several Indian markets, including Hyderabad and Pune are currently among the fastest growing markets in the Asia-Pacific region. More mature markets have witnessed slower growth, mainly due to the lack of vacant office space available.
The impacts of Covid-19 are expected to be wide ranging in the short term with both supply and demand for flexible workspace impacted. The appetite we had seen for the flexible workspace market that we had seen throughout 2019 is thought to still exist but, as indicated in our forecast this does not mean the industry is exempt from short term pain. In the short time since “Lockdown” began to alleviate, we have already seen customer demand for flexible workspace return to pre-COVID-19 levels.
While the region had experienced several bumps in the road throughout 2019 many operators had still be looking to expand their operations throughout 2020. We are unlikely to see the previously expected levels of new investment as providers look to solidify their existing operations and there is no doubt that certain providers will not be able to weather the storm. These two factors mean that for 2020 at least the growth in supply is likely to be cut right back to single digit levels of just 6%. A far cry from the levels seen over the last 5 years.
“We have seen across APAC a number of operators grow and bring great variety to the market. This shows that for those with a strong understanding of flex, who know the local market, and are willing to evolve with it, it will continue to be an exciting industry,” said Sean Lynch.  
“As businesses we face challenges that are outside of our control, but with the fierce competition growing across the region, this can only give more options to our clients and push us all to evolve.”
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Asia-Pacific leads with seven fastest-growing flexible workspace markets

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The early August Melbourne weekend auction results saw a bounce back to 57 percent on low volumes.
Melbourne’s preliminary clearance rate was 57.6 per cent, from 165 reported results. This is primarily a result of the market reaching equilibrium in the number of auctions pulled following the second COVID-19 lockdown wave.
 
There were 285 properties scheduled for auction, 71 of which were withdrawn.
The same weekend last year, according to Domain, had 470 listings.
Sydney’s preliminary auction clearance rate sat at 65.5 per cent, from 286 reported results. 
There were 508 auctions scheduled, with 76 properties withdrawn from auction on Saturday.
On the same Saturday last year had 316 auctions.
The nation's top sale was 41 Highgate Street, Strathfield for $4,641,000, $141,000 above reserve.
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Melbourne's weekend auction clearance rates bounced back into the 50's

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Mirvac is planning the launch of the next stage of its $1 billion Waterfront Newstead community in Brisbane early next year, after receiving Development Approval for its new Sky Precinct from Brisbane City Council.
Located alongside the Brisbane River in Newstead, it has been designed as a 'park within a park'.
The 25-level building was envisioned by the award-winning Mirvac Design team and will feature 143 one, two, three and four bedroom apartments.
Located at 57 Skyring Terrace in Newstead, it will also include a suite of exclusive resident lifestyle amenities, retail and a ground-level tropical oasis featuring pools of water, shaded enclaves and grassed areas, designed in conjunction with landscape architects RPS, which will connect to - and expand - Waterfront Park.
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Mirvac started developing its vision for the Waterfront Newstead masterplan in 2001 and has delivered the first three stages - Pier, Park and Unison, with development approval in place for another future stage, the Shore Precinct.
Mirvac Head of Residential Stuart Penklis said Mirvac was planning to push the button on the Sky Precinct as the next stage, due to strong interest from potential purchasers..
"Resident amenities will include a ground level wellness centre with gymnasium and yoga studio that look out to water features and tropical landscaping and a resident's lounge and private dining room on level 19, with spectacular views of the New Farm reach of Brisbane River."
"The jewel in the crown will be the roof-top 25 metre infinity edge pool, spa and barbeque terrace, with views over the Brisbane river," he said
Mr Penklis said Mirvac was planning a boutique retail precinct at the base of the Sky Precinct.
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Mirvac receives approval for $1 billion Waterfront Newstead community in Brisbane

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A dozen COVID-19 infections have emerged at the Melbourne residential high-rise tower construction site.
The Victorian Department of Health and Human Services (DHHS) notified construction company Multiplex of 12 cases at the Multiplex Premier Apartments site at 134-160 Spencer St, Melbourne.
Construction at the $315 million Premier Tower in Melbourne has been halted following the emergence of the COVID-19 cases. Multiplex management and the unions involved have agreed to a full site shut down.
The site has undergone a ‘hospital grade’ clean.
Multiplex recently celebrated the topping out of the 79-level Fragrance Group tower that will have 172 hotel rooms plus 796 apartments that replaced the Savoy Tavern.
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The building that stands at 246m above the Spencer and Bourke street corner saw some 35,000 cubic metres of concrete poured.
It had secured 60% off the plan pre-sales in its 2015 stage one launch with a selection of one bedroom, one bedroom-plus-study and two bedroom configurations.
Around half went to offshore buyers seemingly galvanised by the new Victorian Government stamp duty on foreign buyers that began July 1.  
There will also be a boutique hotel housed in the podium levels hosting 175 rooms. 
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COVID-19 infections hit Melbourne's Beyonce inspired tower construction site

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Potter Projects, a division of The Potter Group, has announced the acquisition of a prime 4,880 sqm industrial site in Burleigh Heads for a new warehouse development.
Zac Potter confirmed Potter Projects had acquired 49 Leda Drive, within an established and popular industrial precinct, for $3,100,000 plus GST.
Mr Potter said the vacant freestanding warehouse currently occupying the site would be demolished and replaced by an upscale industrial project comprising 22 light industrial warehouses with ancillary offices.
He said it would be similar to Potter Projects’ Flagstone Business Centre only metres away at 3 Flagstone Drive, Burleigh Heads. 
The recently completed development has sold 15 of the 18 warehouses by completion, even with the COVID-19 pandemic taking place mid sales campaign. 
Three warehouses now remain for sale. 
“Warehouse sizes are likely to range from 85 sqm to 200 sqm, catering for a broad range of end users,’’ Mr Potter said.
“Several draft plans have already been drawn up and we hope to lodge a DA with council in the coming weeks,’’ he said. 
Potter Projects is experiencing strong demand for its industrial property, achieving millions of dollars in sales across its growing portfolio of warehousing and commercial projects on the Gold Coast in recent months.
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Potter Projects acquires $3 million Burleigh site for new warehouse development

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Teska Carson has sold an office/warehouse in Richmond for $3.4 million to a local owner-occupier after taking nearly 230 enquiries and 12 offers for the newly renovated industrial property.
Located at 426 Burnley Street - about ten minutes from the centre of Melbourne - the property comprises a single level, 595 sqm, solid brick building.
It had a clear span warehouse, a two-level office, and basement storage, on a 555 sqm site with 12 metres street frontage.   
Agent George Takis said the quality building was located in one of Melbourne’s most popular city fringe markets with strong growth prospects and the additional attraction of the potential for redevelopment.
"More than 200 enquiries, 12 offers and $6126 a square metre, is an absolutely extraordinary result in any market, but particularly in these most uncertain times. 
The property was sold with vacant possession.
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12 offers for $3.4 million Richmond warehouse

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Melbourne tyre retailer and wholesaler, Superior Tyres, will open its doors in Sunshine West after securing on an industrial facility. 
The 7,036sqm property at 531 Somerville Road features a building area of 4,071sqm, incorporating a mix of office, warehouse and large showroom/retail areas.
The property, formerly occupied by Tradelink, features three container height roller doors, a large concrete hardstand and ample car parking.  
CBRE negotiated the lease.
Superior Tyres will lease the property for six years at a rate of $330,000 per GST (plus GST and outgoings).  
Mr Murphy commented Superior was looking to relocate from Kensington/
"Superior Tyres identified this property as a perfect fit for the long-term future of its family business. It offered an ideal blend of retail, office and warehouse.  
The onset of COVID-19 caused some delays in finalising the transaction but both landlord and tenant were understanding and committed to a mutually-beneficial deal.”  
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Superior spot in Sunshine West for tyre specialist 

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An offshore purchaser has purchased a 48 sqm vacant retail space at Shop 1, 61-65 Regent Street, Chippendale NSW from a Private group for $682,000. 
The sale reflected a building rate a $14,208/sqm – a strata retail record for the precinct. 
Key features of the property include 48sq m (+4sq m bathroom area) retail Shop, large 10m street frontage with outdoor seating potential, one secure parking space, separate toilet on title plus rear loading dock access. The property’s previous rental was $725 per week plus GST.
The property is 600m to Central Station and 100m to Central Park development and within close proximity to the Spice Alley restaurant and UTS.
The deal was negotiated by Savills Australia who said the space would be suitable for (STCA): Bottle Shop, Wine Bar, Beauty, Nail Polish, Eye lash extensions, Bakery, Deli, Specialty Shop Cafe, Takeaways, Cakes/Patisserie.
 
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Chippendale strata retail sells for record rate

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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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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