<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;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&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.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Surfer artist Mitchell English and his wife, Helen, a Paddington-based bridal wear designer, have listed their Sydney northern beaches cottage. It’s a very popular Palm Beach holiday letting returning more than $100,000 annually.
Offers on the smartly adapted fisherman’s cottage listing are due March 15 to Domain Residential Group agent Michael King.
Located at the northern end of pricey Iluka Road, it’s been rebuilt with design input from Tim Allison, Sean Dean and Mitchell.
The property, with vaulted ceilings and recycled Oregon beams, is in close proximity to Snappermans Beach reserve.
<img src="/images/stories/iluka1.jpg">
It has been featured in many photo shoots including Inside Out magazine (pictured above and below).
<img src="/images/stories/iluka2.jpg">
The Englishes feel confident of a price in the high $2 million range based on the recent sale by Michael King also along Iluka Road for the designer Anna Cayzer-Lysaght to Simon Horauf of Play Communication for $2,825,000.
<a target="_blank" href="https://www.sheahangalleries.com.au/mitchell-english">Mitchell English's art features quintessential Australian beach scenes</a>.
 
 
 
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jchancellor-FAypfDUnLy

Surfer Mitchell English lists Sydney northern beaches cottage

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Fulton Transport boss Gary Fulton has emerged as the $6.75 million buyer of the Gold Coast home of besieged businessman Mark McIvor.
The freight-traffic operative is based in Kemps Creek, NSW.
The luxury Gold Coast abode of the recently resigned managing director of Equititrust Mark McIvor <a href="https://www.propertyobserver.com.au/queensland/former-equititrust-boss-mark-mcivor-lists-popov-designed-gold-coast-home/2011081651176" target="_blank">went to September auction</a>, but did not sell until early January when the price was undisclosed.
It’s a two-storey riverfront home designed by Sydney-based architect Alex Popov on Cronin Island. 
At its auction Stacey McIvor, the wife of merchant banker and property investor Mark McIvor, wept when the five-bedroom riverfront home drew a top bid of $4.55 million.
At the time a disappointed Mark McIvor said the home  had been valued at $6.5 million and that the auction was "a demonstration of a very hard market".
Observers are highly surprised at the strength of the very bullish price stated in the official DERM land registry paperwork obtained by Property Observer.
Adding intrigue, at the time of the sale, the Gold Coast Bulletin indicated "property industry sources say the home has sold to parties well known to the McIvor family."
But the Bulletin was unable to secure any further sales advisory information from the marketing agent Michael Kollosche, of Ray White Broadbeach, who declined to comment to the local newspaper.
It sits on a 1,736-square-metre block with 50-metre frontage onto the Nerang River.
McIvor, now managing director of Landsolve Partners, built the house on the $1 million block, which he bought from a Tokyo couple, Kensuke Haniuda and Nayumi Yoshida, in 1994.
McIvor, who founded the Gold Coast's own merchant bank, Equititrust, in 1993, also owns two other houses on the island. They cost $3.6 million in 2002 and $1.7 million in 2003.
Ray White Broadbeach agent Michael Kollosche had the listing.
Equititrust, which became known for using a Roman voussoir arch as its marketing logo to suggest structural stability, was among the many unlisted mortgage funds to take a battering following the 2008 financial crisis. In April 2011 Equititrust confirmed it had stopped paying income distributions to unit holders in two funds housing more than $300 million worth of assets as it accelerated its debt repayments.
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Ex-Equititrust boss Mark McIvor secures bullish $6.75 million for Popov-designed Gold Coast home: Title Tattle

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<img src="/images/stories/reiwamarch7.gif">
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by <a href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank">clicking here</a>.
 
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cknowlton-QnEa6ntUYP

Perth sales down 10% on last week, but still up 17% on same week last year: REIWA

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Balgownie, the very unusual 1913 Beaconsfield Parade, St Kilda West house has been sold. 
The three-level five bedroom house with a lift <a target="_blank" href="https://www.propertyobserver.com.au/victoria/vendors-of-st-kilda-west-home-hope-%245-million-is-over-the-horizon/2011092251652">was listed last September </a>at $5 million plus, but it was repriced at $3.9 million over the intervening months.
Shane Siemers and Andrew Stuart at Hocking Stuart recently posted the sold sticker. The sale price has not been disclosed.
 
 
 
 
 
 
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Balgownie in St Kilda West sells after revised pricing: Title Tattle

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Retired car dealer Laurie Sutton has sold his Mosman harbourfront residence, but the prestige suburb is unlikely to have a new record holder.
Sutton hoped to secure $20 million for it – somewhat revised expectations given its initial listing in 2009 had hopes of beating Mosman's $22.5 million house price record.
It was 35 years ago since Sutton bought it from the Pick a Box presenters Bob and Dolly Dyer, who pocketed $376,960 when they headed to Queensland.
It’s understood a $1 million deposit– which possibly reflected a 5% deposit – was recently paid by its buyer, Ying Li. The official selling price has not yet been revealed. The purchase highlights a small, but emerging, trend of buyers of Chinese origin buying luxury homes around Mosman. There have been eight acquisitions over $5 million among the 150 sales over the past five years topped until the latest sale by a $12.6 million sale on Morella Road to Hong Gai and Yuping Chen in 2010 and an $8.8 million sale last year on Carrington Avenue to Ying Chen. 
It is not known if the acquistions are by foreign buyers requiring FIRB approval or are actually new migrants, expats or even long-time citizens, although Ying Li gives his address for official purposes as a solicitor's office at Colin Biggers &amp; Paisley.
<img src="/images/stories/sutton1.jpg">
The Bay Street tropical holding is like Hawaii meets Hamilton Island on Middle Harbour.
Despite renovations over the past three decades, there are still traces of the Dyers' day, including the imposing sandstone fireplace in its living room, which overlooks Quakers Hat Bay.
<img src="/images/stories/sutton6.jpg">
But the teeth and jawbone of the couple's world-record 1062-kilogram great white shark catch that hung above the fireplace has long gone.
As have the Dyers' cruisers, Tennessee I, II and III, from Mosman's largest waterfront estate at 5,154 square metres.
Dyer, who was a hillbilly Tennessee vaudeville singer on his arrival in Australia in 1937, had paid £15,068 for the property in 1950, after upgrading from a house on the Balmoral side of Mosman.
<img src="/images/stories/sutton2.jpg">
Dyer had just signed a $33,000-a-year contract for his radio show on 2AD, which the newspapers reported was 11 times the salary of the then NSW premier, James McGirr.
<img src="/images/stories/sutton7.jpg">
Dyer went on to host the television show BP Pick a Box between 1957 and his retirement in 1971.
Dyer, with his raucous "Howdy, customers" greeting, presided over contestants who faced a sudden-death decision of choosing between "the money or the box" with the secret prize.
<img src="/images/stories/bobdyer.jpg" width="150" style="float: left; margin: 5px;">
He died in 1984. His widow – who, as Dolly Mack, had been a Sydney Tivoli showgirl in her teens – lived for another 20 years.
The listing in 2009 <a href="https://www.propertyobserver.com.au/new-south-wales/mosmanites-playing-property-pick-a-box-with-caution/2011081251139">had expectations of beating Mosman's $22.5 million house price record</a>.
<img src="/images/stories/sutton3.jpg">
Property developer Albert Bertini and his former wife, Heather, hold the record for a Mosman purchase, paying $22.5 million for Karawa on the Balmoral cliffs in 2007, but it has been recently resold for $19 million, reflecting the downturn in the top end prices across Sydney.
Karawa's sale beat the previous record for a Mosman house by more than $7 million, which was set next door to Karawa at $15.5 million in 2001 by Richardson &amp; Wrench Mosman agent Robert Simeon.
<img src="/images/stories/sutton4.jpg">
The Sutton property comes with approved plans for a replacement three-storey residence.
The vendors raised their family there and now entertain their grandchildren.
“It’s an estate for a young family to enjoy and make full use of all the gardens and facilities,” said Laurie Sutton when it was listed late last year through estate agent Sandie Dunne at Dunne Mosman.
“My children played cricket on the lawn and had many parties on the flood-lit tennis court and pool.
“It was the place where all the family’s friends would hang out, which is the way I liked it.
“It is a very private place” Sutton noted.
“Once inside the gates, you are away from the rest of the world, whilst the grounds are enormous they are fully fenced and secured and very dog friendly.”
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Chinese buyers playing property pick a box, but record Mosman price unlikely

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The Fair Work Ombudsman is prosecuting the Glad Group Pty Ltd, which holds cleaning contracts for more than 100 office buildings around the country, including Deutsche Bank Place on Phillip Street, Sydney.
It is alleged Glad Group underpaid 32 night-shift workers it employed to clean Deutsche Bank Place a total of $133,845 from October 2008 to August 2009.
The employees – who included international students, working holiday visa workers and recent immigrants – spoke little English. Six were under 21.
The employees generally worked four-hour shifts at night.
It is alleged the majority of the underpayments were the result of the Glad Group purporting to outsource employment of the cleaners for the fourth hour of their shifts to another company –  LJ and LJ King – which paid them only $13 to $15 an hour, when they were entitled to more than $17 an hour.
However, it is alleged that because Glad Group continued to control and direct the employees for their whole shifts, it was the true employer and was responsible for paying the cleaners for all work performed.
It is alleged Glad Group was therefore ultimately responsible for underpaying the employees the minimum hourly rate, as well as overtime rates and toilet-cleaning allowances.
In prosecution documents lodged in court, the Fair Work Ombudsman alleged that Glad Group had admitted to underpaying the workers and had reimbursed all those employees it had been able to locate.
Fair Work inspectors discovered the alleged underpayments in 2009 when they audited the Glad Group during a campaign focusing on Sydney cleaning companies.
The Fair Work Ombudsman alleges Glad Group committed several breaches of workplace laws. The maximum potential penalty per breach is $33,000.
The case is listed for a hearing on May 9 in the Federal Magistrates Court in Sydney.
 
 
 
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Fair Work prosecuting Deutsche Bank Place cleaning company Glad Group for allegedly underpaying workers

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The RBA has starkly highlighted a dramatic drop in property sales turnover as a key occurrence when it comes to recent economic structural change.
“In the early 2000s, when the property boom was in full swing and investors were busy buying properties to rent out, around one in 12 dwellings in Australia was changing hands each year,” RBA deputy governor Philip Lowe said.
“Today, the rate of turnover is only about half of this, with around one in 25 dwellings changing hands last year.”
Lowe noted to an AiGroup gathering the lower rate of turnover had contributed to weak employment growth in the real estate sector over recent years.
It had followed “many years of strong growth”.
The data indicated turnover rate was back to 1991 levels.
He suggested it was a consequence of the economy going through an adjustment in household borrowing and spending behaviour.
The RBA has talked frequently about this issue over recent years, and the flow-on effects are evident in various parts of the economy.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/turnover.gif"><img src="/images/stories/turnoverthumb.gif"></a>
His speech addressed the mining sector boom and positive spill-over effects to a number of areas of the economy, including parts of the services sector.
But he noted the change in household behaviour was also affecting the financial sector in a similar low-growth environment.
“Financial institutions are having to learn to live with much lower growth in their balance sheets than was the case over recent decades,” he said.
“This is leading to changes in business practices, and there has been a slight decline in employment in the banking sector over recent years.
“Conversely, there has been strong growth in employment in the provision of financial advice, partly due to the steady inflows into superannuation funds.”
Another area where the change in household behaviour was having a sizable structural effect was in the retail industry, Lowe said.
“Perhaps the most striking of these is the decline in sales at department stores and clothing and footwear retailers,” Lowe suggested.
“Indeed, since early 2009, the volume of sales in these stores has declined by around 6%. This stands in contrast to relatively steady growth in the volume of sales in the rest of the retail industry.”
He concluded the mining boom had delivered a very substantial increase in Australia's real income and this increase has boosted spending.
But the accompanying high exchange rate is also having a contractionary effect on a number of sectors of the economy.
On the manufacturing industry Lowe noted the sector employed about 950,000 people and accounted for 9% of output.
“This role is, however, changing.
“Realistically, Australia cannot hope to be a large-scale producer of relatively standardised, plain-vanilla, manufactured goods for the world market.”
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Estate agents in the eye of Australian economic structural upheaval

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Tucked away in a special little corner of Queensland is a luxurious utopia with beautiful houses, native animals roaming freely and a prized level of environmental sustainability.
It is a rich man’s hideaway where strict design codes and by-laws ensure it remains an Australian paradise by the sea.
Sunrise at 1770 is near the exclusive Agnes Water between Bundaberg and Gladstone. It takes more than five hours to drive from Brisbane.
Remote by design, the project aimed to become the nation’s premier ecologically sustainable community.
In 2007 and 2008 the UDIA voted it the Best Sustainable Development in Queensland and then Australia. In 2009 at FIABCI’s Prix d’Excellence World Awards it was the first runner-up in the environmental category.
Twenty-five houses have been built in the community, which will allow a maximum of 172 homes on the site, which is surrounded by protected wetlands, beaches and reserves. One of its finest houses has been listed for sale with $2.95 million hopes.
The contemporary Springs Road house, which is owned by property investors Mark and Janene Hulst, was named both Queensland Home of the Year (2002) and Custom Home of the Year.
Noosa designer Steven Kidd of Kidd+co Designers designed this and several other glamorous houses at Sunrise.
“We had a great brief and we did a few houses in a row, which makes a nice vision. Mark’s house has a beautiful internal garden in a wonderfully unique environment. We decided to keep the existing vegetation and turn the house inside out,” Kidd says.
‘The balconies hang off the house. The design concept works with circulation areas plus breakout spaces. It is a timber-framed house with exceptional timberwork inside that was crafted by the builder Mike Murray.”
Given the house is positioned at a 45-degree angle, two faces take in views of the Coral Sea and the famous Springs Beach surf break.
Clean lines create a tree house style of living where sections of space with cantilevered balconies act as a floating canvass with a pristine bushland or the sea as a frame. It is minimalism without forsaking any cosy comforts, since the house is technically savvy and equipped with rain sensors on the atrium windows, an external rooftop sprinkler system for fire control, under-garage water tanks, auto sensor bathroom lighting and in a nod to summertime necessities, climate-controlled wine storage behind the kitchen.
“We built it together and love living at Sunrise. It was a great challenge so we are looking to buy another block of land here and do it all again,” says Mark Hulst.
Sunrise at 1770 has raised boardwalks to two beach clubs with three pools, barbecue pavilions and tennis courts.
To buy into Sunrise, where the Smorgan family owns property alongside bankers, a film producer and a couple surfing identities, is to buy into a body corporate with a green future. The primary water supply comes from rainwater tanks and wastewater is used to supply toilets, a communal car wash and firefighting.
A “dark sky” policy prevails so turtles use their rookeries. Non-native pets are verboten, so local wildlife and Godzilla, the resident two-metre-long goanna, can roam unmolested.
The three-bedroom, three-bathroom Hulst house is listed for sale through Gordon Christian at Harcourts Agnes Water.
 
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andreadixon-oif3j7eKne

Sustainable Agnes Water award winner listed on Queensland’s Discovery Coast

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Western Australia and Queensland are where investors should be looking for new investment hotspots, analysis of Australian Property Investor magazine’s hot 100 list has revealed.
The 2012 list features 66 locations that are appearing for the first time, with 20 in Western Australia and 17 in Queensland.
The WA and Queensland picks include both capital city suburbs and remote mining towns benefiting from the resources boom.
Among the most interesting new entrants is <a target="_blank" href="/news">Onslow</a>, which has a population of just 845 and is 1,400 kilometres north from Perth.
According to property valuer Brad Mazza at LandMark White Hegney, the local council for Onslow is “average”, accessibility is “very poor” as there are no flights into the area (you need to fly to either Karratha or Exmouth), and services and amenities are “poor” with “limited houses and very basic amenities”.
However, its location south west of Karratha on the coast of the Pilbara region means it is rapidly turning into one of Australia’s mining boom towns.
<img style="float: left; margin: 5px;" width="300" src="/images/stories/onslowmap.gif">
Mazza says that while prices have already gone through the roof with some vacant blocks of land costing more than $1 million, there’s still talk of prices increasing further. 
Major projects underway in Onslow include the massive 8,000-hectare Ashburton North Strategic Industrial Area, with BHP Billiton and Chevron both fully committed. 
A four-bedroom house on Burt Close in Onslow is asking rent of $2,800 per week – <a target="_blank" href="https://www.propertyobserver.com.au/residential/hefty-residential-rentals-in-the-booming-pilbara-matching-the-east-coast-s-wealthy-suburbs/2011120752707">similar prices to those being charged in Port Hedland</a>, also in the Pilbara. 
Other mining hotspots on the list for the first time include Karratha in the Pilbara, <a target="_blank" href="https://www.propertyobserver.com.au/queensland/hotspot-high-yields-and-price-growth-in-moranbah-but-best-time-to-buy-may-have-passed/2012022753563">Moranbah in Queensland’s Isaac region</a>, Bundaberg, 300 kilometres north of Brisbane, Ceduna, 550 kilometres north west of Adelaide, Mackay, 800 kilometres north west of Brisbane, Newman, 1,000 kilometres north of Perth, and Oakey, near <a target="_blank" href="https://www.propertyobserver.com.au/queensland/hotspots-toowoomba-could-be-headed-for-recovery/2012022853595">Toowoomba</a>. 
City suburbs like Osborne Park, just seven kilometres from Perth, is picked by Australian Property Monitors to boom on the back of “$100 billion in mining industry activity” in WA.
NSW accounts for eight of the new investment hotspots (all of which are Sydney suburbs), there are seven each in Victoria (two being Bendigo and Ballarat) and South Australia, three in the Northern Territory, two in the ACT and two in Tasmania.
The full alphabetical list is:
<ol>
<li>Ballarat, Vic</li>
<li>Belmont, WA</li>
<li>Bendigo, Vic</li>
<li>Box Hill, Vic</li>
<li>Broome, WA</li>
<li>Bundaberg, Qld</li>
<li>Camperdown, NSW</li>
<li>Carindale, Qld</li>
<li>Carlton North, Vic</li>
<li> Ceduna, SA</li>
<li>Chermside, Qld</li>
<li>Cloverdale, WA</li>
<li>Como, WA</li>
<li>Dickson, ACT</li>
<li>Dunsborough, WA</li>
<li>Dutton Park, Qld</li>
<li>Eden Hill, WA</li>
<li>Edgewater, WA</li>
<li>Enmore, NSW</li>
<li>Fremantle, WA</li>
<li>Gawler, WA</li>
<li>Granville, NSW</li>
<li>Hackham, SA</li>
<li>Heathridge, WA</li>
<li>Highgate, WA</li>
<li>Indooroopilly, Qld</li>
<li>Karratha, WA</li>
<li>Kawana, Qld</li>
<li>Kellyville, NSW</li>
<li>Keperra, Qld</li>
<li>Mackay, Qld</li>
<li>Magill, SA</li>
<li>Maroubra, NSW</li>
<li>Marrickville, NSW</li>
<li>Midland WA</li>
<li>Moorooka, Qld</li>
<li>Moranbah, Qld</li>
<li>Murarrie, Qld</li>
<li>Neutral Bay, NSW</li>
<li>Newman, WA</li>
<li>Ningi, Qld</li>
<li>Norwood, SA</li>
<li>Nundah, Qld</li>
<li>Oakey Qld</li>
<li>Onslow, WA</li>
<li>Osborne Park WA</li>
<li>Palmerston, NT</li>
<li>Parap, NT</li>
<li>Port Hedland, WA</li>
<li>Port Lincoln, SA</li>
<li>Roma, Qld</li>
<li>Roxby Downs, SA</li>
<li>Smithton, Tas</li>
<li>Summerhill, NSW</li>
<li>Sunshine, Vic</li>
<li>Tennant Creek, NT</li>
<li>Turner, ACT</li>
<li>Underwood, Qld</li>
<li> Warrane, Tas</li>
<li>Werribee, Vic</li>
<li>West Footscray, Vic</li>
<li>Westminster, WA</li>
<li>Willetton, WA</li>
<li>Woodville West, SA</li>
<li>Yangebup, WA</li>
<li>Yeerongpilly, Qld</li>
</ol>
The full hot 100 list is in the April issue of Australian Property Investor, which is on sale now.
 
Photo courtesy of <a target="_blank" href="https://www.tripadvisor.com/">Trip Advisor</a>.
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lschlesinger-FZcF9M3vE6

Sixty-six new hotspots: Remote, inaccessible and with poor amenities, yet rents are skyrocketing in tiny Onslow

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I like David Koch. I must confess I like Mel, Natalie and Fifi more, but David, by my standards, is a cut above the rest when it comes to daytime television.
But, and this is a big BUT, I like David far less <a target="_blank" href="https://www.propertyobserver.com.au/residential/kochie-sets-his-sights-on-estate-agents-and-journalists-in-queensland-property-catastrophe-stoush/2012013053183">when he delivers blanket statements</a> such as a “property catastrophe is underway in places like the Sunshine and Gold coasts”. I was going to stay out of this, but the negative impact of David’s comments has been substantial. The power of celebrity these days cannot be underestimated, and with it should come much more care.
Yes, both coasts have experienced a sustained property downturn. And for generic lifestyle-orientated property in both locations, the decline in value might not yet be over. For well- understood reasons, the current situation is warranted.
But there are always markets within markets and available advice beyond “just don’t go there”. As I <a target="_blank" href="https://www.propertyobserver.com.au/residential/seven-positive-signs-for-australias-property-markets/2012021453387">wrote a few weeks back</a>, a property’s value is only partially dependent on the broader market conditions. Studies show that about 40% of growth (or otherwise) can be explained by trends in the overall market. The all-important 60% comes down to more individual factors such as location, the style of housing, its design and inclusions, and the income/demographics of the area.
A major driver behind this 60% is new infrastructure. I have googled David Koch and discovered that on many occasions, he supported such claims. David and Libby’s investment advisory columns frequently advocate such.
So why, David, is a place like Kawana (which is on the Sunshine Coast) up shite creek, when one of the largest infrastructure projects in Australia –the sixth largest teaching hospital in the world – is about to start construction? And in support, there is a hell of a lot more going on in the Kawana area on the Sunshine Coast than most know about. It is, after all, about a kilometre away from the beach, so maybe the Sunrise cameras couldn’t find it.
The statistics are somewhat mind blowing. Let me bore you for a minute or two while I recite some of them:
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/matus.jpg"><img src="/images/stories/matusthumb.jpg"></a>
<ul>
<li>The Sunshine Coast University Hospital or SCUH for short will be a private-public partnership with Queensland Health. The short-listed partnership consortiums are Lend Lease, Thiess/AbiGroup and Lang O’Rourke. Construction is planned to start in 2013, with stage one of 450 beds completed in 2016, expanding to 738 beds in 2021. The hospital will create 2,000 construction jobs and 3,500 permanent jobs once complete. It is expected that more than 15,000 people will visit the hospital each and every day.</li>
<li>
Ramsay Private Hospital Co-located with SCUH. Construction is now underway and in late 2013 this 200-bed private hospital will house 700 permanent employees and create 360 jobs during construction.</li>
<li>
SARC or the Skills, Academic and Research Centre, will provide teaching and research within the hospital campus. A $61 million capital investment, with 150 academic and support staff catering for 1,300 students each year.</li>
<li>
KHIP (don’t you love all these acronyms), or Kawana Health Innovation Park, will be a commercial precinct distributed across a number of sites across the hospital campus.</li>
<li>
Kawana Town Centre and medical precinct. The town centre – adjacent to the SCUH, will commence in 2013 too. The town centre incorporates 80,000 square metres of retail, commercial, community and entertainment facilities as well a medium-density residential sites. The town centre is expected to generate about 5,000 jobs during construction and similar in permanent positions upon completion.</li>
</ul>
The “Kawana Health Hub” – for the sake of calling it something – is a very big regional initiative, comparable with a major resources project. Yet few know about it. It is a game changer, a recovery catalyst, a smart job generator, which the likes of David Koch should be spruiking rather than carpet bombing.
For those who are a little poor at maths, the Kawana Health Hub will employ around 2,000 construction workers at any one time between now and at least 2016. In addition, it is projected – yet international case studies of similar major infrastructure projects suggest a higher multiplier – that 10,000 permanent jobs with be created in the locality. The vast majority will be new jobs.
The back-of-an-envelope demand analysis – relax, I have been doing them for close to 25 years and rarely get this stuff wrong – suggests that 10,000 new jobs will create the demand for between 5,500 and 6,000 new dwellings. Yet the approved residential offerings in the region suggests that 3,500 new dwellings can be supplied in the adjacent Birtinya neighbourhood and a further 1,000 new residents on the beachfront parcel known locally as “Bokarina”.
The projected 10,000 permanent jobs, by the way, exclude those generated from new housing construction, which most readers know can also be substantial.
The average daily spend in the Kawana area over the next five years will be $1.5 million. I repeat – $1.5 million per day.
The Sunshine Coast University Hospital alone is valued at $2 billion and represents almost a quarter of the current Sunshine Coast regional economy. It is estimated that it will inject about $700 million into the Sunshine Coast economy every year and will be the coast’s single largest employer.
Now for the life of me, I don’t see how this part of the Sunshine Coast can be labelled “catastrophic”. Oh, and by the way, three-quarters of the Sunshine Coast’s permanent population of 340,000 actually live within the Kawana catchment area.
So, David, instead of labelling the Gold and Sunshine coasts as “property catastrophes” maybe a more subtle message is needed. May I suggest something like:
“There is little doubt that both the Gold and Sunshine coast residential property markets are doing it tough. Buyers do have a lot of choice and for generic lifestyle-orientated stock; asking prices are still under pressure.
“Astute buyers of older second-hand stock, however, can now buy below replacement cost. Investors should always focus on property adjacent to existing and especially new infrastructure. The most successful residential investors also hold for the long term.
“There are buying opportunities on both coasts. You just need to do your homework first.”
Now, I wonder if this column will get me a gig on Sunrise?
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
 
 
 
 
 
 
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