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The Agosta family has divested its Footscray Nino Early Learning Adventures Centre for $11.5 million, a move representing Australia’s first childcare centre sale to top $10 million this year. 
Located at <a href="https://www.commercialrealestate.com.au/property/282-288-geelong-road-west-footscray-vic-3012-2016223248" target="_blank">282-288 Geelong Road</a>, the multi-level state of the art facility is the newest centre under the Nino Early Learning Adventures brand, having been completed in the past month. The property comprises a building area of 2,228 sqm and includes basement car parking for 25 vehicles.
CBRE’s Australian Healthcare &amp; Social Infrastructure team negotiated the sale on behalf the Agosta family via an Expressions of Interest campaign. 
The Geelong Road property is the eleventh Nino Early Learning Adventures centre sold by CBRE over the past three years, with these sales amassing a total transactional value of more than $150 million.  
CBRE’s Josh Twelftree said the sale was the second major childcare investment transacted in 2020 across Australia, with the first having been transacted by the team only two weeks ago in Oakleigh East, Victoria, for $8.08 million with a 5.4 per cent yield. 
“These results are the catalyst for buyers flocking to the sector during these uncertain times, with childcare – an essential service investment – continuing to transact,” Mr Twelftree said.
“Investors have been focusing, and will continue to focus, on properties with sound fundamentals, with the market experiencing a flight to quality where well-located assets with reliable income streams and long leases are keenly sought.”
“Childcare investments with strong underlying land value are on the top of the investors wish list, with higher cost of entry into these areas offering confidence competitors are less likely to open a centre in close vicinity,” 
CBRE’s Jimmy Tat said growing investor interest in childcare centres was being driven by their relative stability as an asset class. 
“When the commercial market was at its weakest earlier this year, investors shifted their focus to stable investment opportunities – such as childcare centres – that were providing essential services and the Federal Government’s support of childcare services further reinforced this,” Mr Tat said.
“Investors typically rate tenancy profile as the top priority after location – primarily to ensure the investment provides a strong income guarantee.
“Nino Early Learning Adventures is a well-known reputable operator with a foothold in sought after investment locations. This is underpinning greater demand and interest in their assets – as evidenced by recent transaction activity.”
 CBRE is the premium childcare sales specialists, having handled all but one of the nine sales over $8,000,000 across Australia in the past 24 months (89 per cent market share). 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="5" valign="top" width="558">
Recent Nino Child Care Sales Results - CBRE
</td>
</tr>
<tr>
<td valign="top" width="227">
Address
</td>
<td valign="top" width="95">
Sale Price
</td>
<td valign="top" width="85">
Rental p.a
</td>
<td valign="top" width="94">
Buyer Nat.
</td>
<td valign="top" width="57">
Yield
</td>
</tr>
<tr>
<td valign="top" width="227">
103-107 Koonung Rd, Blackburn North
</td>
<td valign="top" width="95">
$9,280,000
</td>
<td valign="top" width="85">
$498,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
5.36%
</td>
</tr>
<tr>
<td valign="top" width="227">
356-358 Warrigal Rd, Ashburton
</td>
<td valign="top" width="95">
$10,600,000
</td>
<td valign="top" width="85">
$603,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
5.68%
</td>
</tr>
<tr>
<td valign="top" width="227">
11-15 Chadstone Rd, Malvern East
</td>
<td valign="top" width="95">
$16,900,000
</td>
<td valign="top" width="85">
$711,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
4.20%
</td>
</tr>
<tr>
<td valign="top" width="227">
31 Nepean Hwy, Elsternwick
</td>
<td valign="top" width="95">
$11,300,000
</td>
<td valign="top" width="85">
$675,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
5.97%
</td>
</tr>
<tr>
<td valign="top" width="227">
282-288 Geelong Rd, Footscray
</td>
<td valign="top" width="95">
$11,500,000
</td>
<td valign="top" width="85">
$675,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
5.80%
</td>
</tr>
<tr>
<td valign="top" width="227">
60 Florey Ave, Point Cook
</td>
<td valign="top" width="95">
$10,000,000
</td>
<td valign="top" width="85">
$511,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
5.11%
</td>
</tr>
<tr>
<td valign="top" width="227">
519 Melbourne Rd, Newport
</td>
<td valign="top" width="95">
$8,100,000
</td>
<td valign="top" width="85">
$520,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
6.40%
</td>
</tr>
<tr>
<td valign="top" width="227">
1-7 Reserve Road, Melton
</td>
<td valign="top" width="95">
$7,000,000
</td>
<td valign="top" width="85">
$392,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
5.59%
</td>
</tr>
<tr>
<td valign="top" width="227">
459 Brookfield Blvd, Mickleham
</td>
<td valign="top" width="95">
$6,350,000
</td>
<td valign="top" width="85">
$420,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
6.60%
</td>
</tr>
<tr>
<td valign="top" width="227">
222 Plenty Rd, Bundoora
</td>
<td valign="top" width="95">
$8,900,000
</td>
<td valign="top" width="85">
$582,000
</td>
<td valign="top" width="94">
International
</td>
<td valign="top" width="57">
6.50%
</td>
</tr>
<tr>
<td valign="top" width="227">
365 Bell Street, Preston
</td>
<td valign="top" width="95">
$11,000,000
</td>
<td valign="top" width="85">
$488,000
</td>
<td valign="top" width="94">
Domestic
</td>
<td valign="top" width="57">
4.40%
</td>
</tr>
<tr>
<td valign="top" width="227">
International 
Domestic
</td>
<td valign="top" width="95">
6 groups
5 groups
</td>
<td valign="top" width="85">
55%
45%
</td>
<td valign="top" width="94">
Avg Yield
Avg Yield
</td>
<td valign="top" width="57">
5.68%
5.50%
</td>
</tr>
</tbody></table>
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j.ballantyne1990-6AQqhLzZaK

2020's largest public childcare facility sale in Australia

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GUEST OBSERVATION
 
Overwhelmingly, the 50 leading Australian economists surveyed by the Economic Society of Australia and The Conversation ahead of Thursday’s <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/update-economic-and-fiscal-outlook">economic statement</a> want the government to keep spending to support the economy — even if it means a substantial increase in debt.
The question is the third asked in the <a href="https://theconversation.com/au/topics/esa-conversation-national-economic-poll-87063">Economic Society-Conversation monthly poll</a>, which builds on a series of polls conducted by the society since 2015.
The economists polled were selected for their preeminence in the fields of microeconomics, macroeconomics, economic modelling and public policy. Among them are former and current government advisers and a former and current member of the Reserve Bank board.
Each was asked whether they agreed, disagreed, or strongly agreed or strongly disagreed with this proposition:
Governments should provide ongoing fiscal support to boost aggregate demand during the economic crisis and recovery, even if it means a substantial increase in public debt.
Only three of the 50 economists polled disagreed with the proposition, none of them “strongly”.
It is one of the starkest results in the survey’s five-year history.
<img src="https://images.theconversation.com/files/348556/original/file-20200721-17-1h8kcyj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="50 economists respond: Govs should provide ongoing fiscal support to boost aggregate demand during the economic crisis and recovery, even if it means a substantial increase in public debt. Strongly agree: 66%, Agree: 22%, Uncertain: 6%, Disagree: 6%">The Conversation, <a class="license" href="http://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Of the 50 economists polled, 44 supported the proposition, 33 of them “strongly”.
Of the remaining six, three were uncertain, and provided well-argued accounts of their reasoning which are published in full along the responses of each of the other participants at the bottom of of this article.
Debt now, concern later
Rachel Ong of Curtin University said the amount of public debt that has accumulated during the COVID-19 crisis was at a historical high and had to be repaid at some point. But she said governments had to be careful about removing support until the economy was clearly on a trajectory of recovery.
Nigel Stapledon of the University of NSW said while some level of on-going support was needed, at some point the cost would be larger than the benefit. Some sectors, including universities, will have to permanently adjust to lower incomes.
The economists who strongly agreed said that if not enough support was provided or if it was withdrawn too early, the resulting recession would itself make the debt that had been run up less sustainable (Fabrizio Carmignani, Griffith Business).
Financial markets are keen to lend
Beth Webster of Swinburne University argued the only real limit to government spending was high and damaging inflation.
If the government was worried about debt, it could finance its spending in other ways, by borrowing from the Reserve Bank (which could itself create money and “monetise” the debt).
Sue Richardson from the University of Adelaide agreed, using a technical term to argue that the was economy was “so far inside its production possibility frontier” (producing so much less than it was capable of) and inflation was so dormant, that there was a case for creating money.
Saul Eslake said that wasn’t necessary. Even with the hundreds of billions committed, financial markets appeared to be comfortable with the debt and keen to lend.
Debt is how we do things
Reserve Bank board member Ian Harper said the Commonwealth could borrow for 30 years at about 1%. “Can we expect the economy to grow faster than 1% per annum in nominal terms over a 30-year horizon?” he asked rhetorically. “I would have thought that’s a shoo-in,” he answered. If so, then the debt would be easily serviced.
Consulting economist Rana Roy pointed out that public debt was “not an anomaly”. It was an enduring and defining feature of the modern economy, providing an enduring and defining asset class, sovereign bonds, which were in high demand.
Of the three economists who opposed the proposition, Tony Makin of Griffith supported “supply side” measures such as <a href="https://theconversation.com/bowing-out-gracefully-how-theyll-wind-down-and-better-target-jobkeeper-143011">JobKeeper</a> that would keep firms in business but opposed “demand side” measures to boost consumer spending, saying they would ultimately prove counterproductive.
Escalating public debt would induce capital inflow, drive up the dollar and make Australian businesses less competitive. Although interest rates are at present low, they would increase when the debt had to be refinanced.
Doubts for differing reasons
Paul Fritjers of the London School of Economics said he would normally support running up government debt for the sake of the economy, but could not support it being run up to support an economy the government itself had run down.
The government should wean the population off of its “irrational fears” and letting “normal economic life return”.
Although strongly argued, these views were more weakly held than those of the majority.
<img src="https://images.theconversation.com/files/348557/original/file-20200721-23-a3clr6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Previous responses weighted by confidence: Strongly agree: 70.4%, Agree: 21.7%, Uncertain: 3.5%, Disagree: 4.4%">The Conversation, <a class="license" href="http://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Participants were asked to rate the confidence with which they held their opinions on a scale of 1 to 10.
When adjusted for these ratings, the proportion prepared to countenance a substantial increase in public debt climbed from 88% to 92.1%.
The proportion opposing it fell from 6% to 4.6%.
Tommorrow’s <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/update-economic-and-fiscal-outlook">economic statement</a> will be the last budget and economic update before the budget itself on <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/2020-21-budget-announcement">October 6</a>.<img src="https://counter.theconversation.com/content/143089/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/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National 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/should-the-government-keep-running-up-debt-to-get-us-out-of-the-crisis-overwhelmingly-economists-say-yes-143089">original article</a>.
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Should the government keep running up debt? Economists say yes

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The Real Estate Institute of Australia has welcomed the extension of the JobKeeper and JobSeeker payments beyond September.
Today’s announcement by the Prime Minister and Treasurer provides businesses and individuals with a much needed lifeline in our industry, the economy and the community for the coming months.
The extension of JobKeeper and JobSeeker payments were identified as the two main areas of support required in a survey the Real Estate Institute of Australia’s member Real Estate Institutes undertook of their members. These were subsequently highlighted in a submission to the Government.
REIA applauded the introduction of the JobKeeper as it kept many employed in the real estate sector. Many of these employees have been engaged in providing the essential service of keeping tenants housed during the pandemic.
With some 3.3 million properties that are rented or available for rent across Australia the extension of JobKeeper and JobSeeker will do much to ease the stress and anxiety that many tenants are feeling at this time. Many of these are rented by people who have lost their jobs in industries that will be slow to recover.
The extension of JobKeeper and JobSeeker will play a vital role in helping Australians plan for recovery and rebuilding from the impact of COVID-19.
ADRIAN KELLY is the President of the Real Estate Institute of Australia
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REIA welcomes JobKeeper and JobSeeker extensions: Adrian Kelly

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Lender loans.com.au has introduced a record low discounted variable rate of 1.99%, available for one year before it reverts to 2.57%.
The move comes less than one month after Tasmanian customer owned bank, Bank of Us introduced fixed rates of 1.99%.
With loans.com.au’s new lowest variable rate of 1.99% only available for one year, Canstar has compared the interest paid over the 30 year life of the loan between the new offer and the current lowest variable rate of 2.19%.
The analysis reveals that taking out the introductory offer of 1.99% would see borrowers with lower monthly repayments for 12 months though it will cost $25,517 more in interest over the life of the loan (assuming the rate differential stays the same). 
<img src="https://www.urban.com.au/images/2020/7/23/Canstar%20July%2023.JPG" alt="">
Canstar's finance expert, Steve Mickenbecker said,“just last month we saw fixed rates crack the 2% barrier, with variable rates now following suit, albeit with an introductory rate that moves higher after 12 months.”
“The four minute mile of home loans, a rate below 2%, was broken last month and with the barrier broken we are now seeing fast followers.
“We saw how quickly the competition moved below 3% once that record fell, so a rate below 2% could soon become the qualifying rate to be competitive.
“A rate below 2% could make a big difference to homeowners’ hip pockets each month, but borrowers have to be prepared for a higher monthly repayment when the 12 month introductory period expires, even though the ongoing rate is competitive.
“Switching from the average variable rate of 3.44% to a rate of 1.99% on an average $400,000 loan could put $307 per month or over $3,600 back into borrowers wallets in just the first year,” he concluded.
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A second record low 1.99% home loan has arrived

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A mortgagee home in Perth's Helena Valley has sold after being listed for sale for $455,000.
The offer, understood to be $470,000, came after just 28 days on market.
Located at <a href="https://www.realestate.com.au/sold/property-house-wa-helena+valley-133534514" target="_blank">17 Prunus Place</a>, in a cul de sac, the house features four bedrooms, two bathrooms, and a double garage.
There also an in ground pool, and turfed back yard area.
the total block comprises 1,008 square metres.
It last sold in 1998, for $172,500.
It was built in 1996.
Richard Lowenhoff and Jessica Macarthur, from LJ Hooker Midland, had the listing.
 
 
 
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Helena Valley mortgagee home sold

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There are 1,392 homes scheduled for auction across the combined capital cities this week, increasing on the 1,176 auctions last week and higher than the 1,124 last year, according to CoreLogic data.
Sydney and Melbourne were both expected to see a rise in the number of homes auctioned this week, however given Melbourne’s restrictions, a large portion of these are likely to be withdrawn, as we’ve seen over the past few weeks.
This is a familiar scene from the first lockdown as homes were pulled from auctions heavily during that period.
In Sydney, 642 auctions are scheduled across the city, a 25% rise on last week’s volumes (515) and also higher than scheduled volumes from one year ago (394).
There are 558 Melbourne homes scheduled for auction this week, an expected rise of 11.6% on last week’s volumes (500), which saw a large number withdrawn (209); a trend that is likely to persist through the lockdown period.
Across the smaller cities, scheduled volumes are set to be higher across all cities but Perth.
<img src="https://www.urban.com.au/images/2020/7/23/CL%20JULY%2019.JPG" alt="">
Despite the negative speculation surrounding the property market, the Ray White Group is set for another strong weekend of auctions.
A return to online auctions in Victoria has done little to stem buyer confidence and the number of registered bidders for New South Wales properties remain near record highs.
Australasia’s biggest auction house has 240 auctions scheduled to take place this Saturday, a 72 per cent increase in the number of auctions at the same time last year.
One highlight is in Pymble where Ray White Upper North Shore Sales Agents Rowan Lazar and Graeme Schultz are taking the five-bedroom family home at 12 Lawley Crescent (pictured in title) to auction with a $2,250,000-$2,500,000 price guide.
“We’ve had more than 70 parties through the open homes during the campaign and we’ve issued 17 contracts so far – we’re expecting this one to be a great auction,” Mr Lazar said.
<img src="https://f.datasrvr.com/f1/620/64889/5_Hume_Street,_Kellyville_Ridge,_NSW.JPG" width="640" data-imagetype="External">
Over in Kellyville Ridge, Ray White Castle Hill Sales Executives Sara Perry and Karl Anthony are expecting big things for the modern and stylish property at 5 Hume Street (above).
“We’ve had 58 groups through and the property has particularly appealed to a wide-ranging demographic – namely families, downsizers and first-home buyers,” Ms Perry said.
“The vendors have bought a block of land in Box Hill to build their dream home and they’re motivated to sell – we’re expecting 4-6 registered bidders on the day.
The property goes under the hammer onsite at 12pm with Ray White Auctioneer James Kerley.
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Sydney set to be the busiest auction market again due to Melbourne lockdown

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Adelaide was one of only three cities to record house price growth over the June quarter.
It pushed the city’s house prices to a record high of $553,036.
Unit prices did, however, slip by almost $10,000 over the June quarter. 
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/ac4c1516-3aa3-40b4-a686-21aec5bae5f9.png" data-imagetype="External">
June 2020 QoQ change for Adelaide house and unit prices
“Adelaide was one of only three cities to record house price growth over the June quarter, along with Hobart and Canberra. While it was a modest 0.2 per cent lift, this has pushed house prices to a record high of $553,036. This is a better outcome than the other capital cities that plunged into declined, reinforcing the stability of the Adelaide housing market even amid the economic fallout of COVID-19. However, unit prices slipped 2.9 per cent over the June quarter, reversing part of the strong growth recorded over the first three months of the year, to $319,266.”
“Low interest rates, unprecedented government stimulus and extended mortgage repayment relief measures have sheltered house prices from any substantial falls to-date. A pullback in buyer and seller activity throughout the height of the lockdown also helped. Economic headwinds could still disrupt Adelaide’s market stability, with weak employment prospects a persistent thorn in the economy which will heighten due to health crisis. However South Australia is less reliant on international tourism than other states and more reliant on interstate tourism. Once borders reopen, the state could benefit from the increase in Australians taking holidays locally.”
“The outlook for residential property has improved vastly in recent weeks. Sentiment towards housing and the purchase of a home has bucked the overall more negative sentiment around the broader economy. South Australia had one of the biggest improved sentiment towards the time to buy a dwelling which reached a six-month high nationally. Affordability is clearly front of mind of mind for prospective buyers, with Adelaide offering one of the lowest purchase prices of all the capitals as well as offering buyers a great lifestyle. Demand could be increased by Australia’s success in dealing with the global pandemic compared to other countries, making it an attractive destination to reside, particularly towards lifestyle regions,” said Domain Senior Research Analyst, Dr Nicola Powell.
 
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Adelaide house prices reached a record high this quarter: Domain

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A Western Australian mortgagee home in the suburb of Bentley went to auction on July 18 unsuccessfully.
The five-bedroom, two-bathroom home presents an opportunity for a first home buyer or investor.
Located at <a href="https://www.realestate.com.au/property-house-wa-bentley-133821094">7a Duke Street</a>, the property offers an open plan living, dining and kitchen space which opens onto a rear courtyard.
Only 10km from the Perth CBD, it is a 254 sqm abode.
Ray White’s Cameron Smart and Kirsty Baker hold the listing.
The property last traded for $475,000 in 2016.
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Bentley, WA mortgagee home listed after unsuccessful auction

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Greater Brisbane house prices fell by $8,000 over the June quarter, the first quarterly fall in a year and the steepest in almost nine years.
Unit prices also declined by just over $16,000 in the June quarter.
A two-speed property market has developed across Brisbane; with Brisbane City, Moreton Bay, Scenic Rim and Somerset house prices falling over the quarter, while Ipswich grew, and Logan remained stable.
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/dd2bb747-bdfd-4fd8-9ecb-60529f175ce2.png" width="597" height="199" data-imagetype="External">
June 2020 QoQ change for Brisbane house and unit prices
“Greater Brisbane house prices fell 1.4 per cent over the June quarter. This is the first quarterly fall in a year and the steepest in almost nine years. However house prices remain higher compared to last year, marking seven-and-a-half years of annual capital growth. A two-speed property market has developed across the LGAs with Brisbane City, Moreton Bay, Redland, Scenic Rim and Somerset house prices falling over the quarter, while Ipswich grew, and Logan remained stable.”
“Prior to COVID-19, there was promising growth in prices for Greater Brisbane. Although this has reversed in the June quarter, the fall in prices to date has been minimal considering the economic aftermath of border closures and shutdowns. An initial pull back in seller and buyer activity during the lockdown acted to underpin prices, government financial support has kept distressed or urgent sales minimal, and incentives have encouraged buying journeys to begin.”
“The outlook for residential property has improved vastly in recent weeks. Sentiment towards housing and the purchase of a home has bucked the overall more negative sentiment around the broader economy. Nationally the time to buy a dwelling pushed to a six-month high according to the Westpac Melbourne Institute Index of Consumer Sentiment. Affordability is clearly front of mind, with the biggest jumps in Queensland, South Australia and Western Australia.”
“Sunshine Coast and Gold Coast housing values outperformed Greater Brisbane over the June quarter. Gold Coast houses pushed to a new record of $660,000 following a 1.5 per cent quarterly growth, while houses on the Sunshine Coast nudged marginally lower. Unit values held across both cities over the June quarter, with Sunshine Coast units at the record achieved last quarter. Despite the devastating impact of the bushfires and the coronavirus pandemic housing values are steady illustrating the desirability of coastal lifestyle regions,” said Domain Senior Research Analyst, Dr Nicola Powell.
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Brisbane house prices see their steepest fall in 9 years: Domain

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Melbourne’s house and unit prices declined over the June quarter, the market’s first fall since early 2019 and the deepest quarterly fall of all the major capital cities.
With Inner Melbourne, the inner east and inner south seeing price declines, opportunities are growing for prospective buyers to enter the market
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/54036863-9430-4062-a6a1-a416e52344a5.png" data-imagetype="External"> June 2020 QoQ change for Melbourne house and unit prices
“Melbourne’s record high house price achieved last quarter was short-lived: prices tumbled 3.5 per cent over the June quarter. House values have fallen $32,000 and units $9,000 over the first quarter to show the impact of COVID-19. Prior to this, Melbourne house prices had made a full recovery from the 2017-19 slump. This quarter marks the first fall since early 2019 and is the deepest quarterly fall of all the major capital cities. Affordability appears to be front of mind for buyers, with more substantial falls in the city, the inner east and inner south, while the outer areas remain stable or have risen. Units have held up better than houses, falling a more moderate 1.7 per cent over the June quarter. It is the opposite trend for Melbourne units, with the price slump concentrated in the affordable areas of the south east and west.”
“Home owners have been provided with a lifeline during this economically challenging time through the intervention of the banks and government: the JobKeeper subsidy as well as a more generous JobSeeker payment which have both been extended, along with the banks offer to pause mortgages. These will minimise the number of urgent or distressed sales, which will in turn support prices. The risks become far greater once these initiatives cease. That said, evidence suggests further price weakness - in June 13.4 per cent of sellers reduced their asking price, five times higher than the same time last year.”
“Melbourne’s property market outlook has adjusted in recent weeks as the city enters its second lockdown. The full impact of the first economic shutdown was clearly evident in the June quarter. Sales activity, listings and clearance rates fell in April. However the rebound was swift as restrictions eased, confidence lifted from the April lows, vendors returned, and more buyers decided it was a good time to purchase - nationally rising to a six-month high. The second lockdown will stall this momentum temporarily,” said Domain Senior Research Analyst, Dr Nicola Powell.
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Melbourne property prices hit hardest in June quarter: Domain

<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.

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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.

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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.

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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.

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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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