<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

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
<div>N G Farah have just listed a residential block of four apartments in Randwick.</div>
<div> </div>
<div>Set at <a id="LPlnk340531" href="http://www.ngfarah.com.au/19263861/24-st-luke-street-randwick" target="_blank" data-auth="NotApplicable">24 St Luke Street, Randwick, </a>the boutique, art deco, strata block of four, features four two bedroom 1 bathroom semi-sized apartments is set on 482 sqm.
</div>
<div> </div>
<div>It has a projected annual gross income of roughly $126,446.</div>
<div>
 This block goes to auction on July 28. 
</div>
<div>Recently N G Farah sold another boutique block of 4 at <a id="LPlnk265076" href="http://www.ngfarah.com.au/19113120/10-12-sturt-street-kingsford" target="_blank" data-auth="NotApplicable">10-12 Sturt Street, Kingsford</a> (pictured below) under the hammer for $3,225,000.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/11/8-12%20Sturt%20St.jpg" alt=""></div>
<div> </div>
<div>This block had a 614 sqm allotment with an projected annual gross income of roughly $111,585. </div>
<div> </div>
<div>The 10-12 Sturt Street offering features two x three bedroom apartments, one x two bedroom apartment and one x one bedroom apartment.</div>
<div> </div>
<div>The estimated annual council rates for this property are $5,552.</div>
<div> </div>
<div>The estimated annual land tax on the property is $27,000.</div>
<div> </div>
<div>The estimated annual water rates for this black are $2,700</div>
<div> </div>
<div>These costs add up to an estimated annual total expense of $35,252.</div>
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j.ballantyne1990-6AQqhLzZaK

N G Farah list a Randwick apartment block

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Teska Carson is marketing a retail investment or owner-occupier opportunity located within the Wheelers Hill Shopping Centre in Melbourne’s eastern suburbs.
The property, Shop 26 (pictured above) will be auctioned August 17 on site.
The 46 sqm holding which comprising an open plan retail/services area and a small consulting room at the rear, was previously tenanted by an optometrist but is currently vacant.
Shop 26 is located internally between Woolworths Supermarket and the southern entrance of the centre which includes other major brands.
According to marketing agents, Teska Carson’s Fergus Evans and Michael Ludski the location was experiencing an emerging gentrification.
They expect strong enquiry and Mr Ludski said Wheelers Hill lies within one of Melbourne’s most rapidly growing regions.
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Wheelers Hill Shopping Centre shop on market

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EXPERT OBSERVER
Most of the strongest markets in the nation are now in regional Australia. And regional NSW is the strongest market jurisdiction in the nation.
The key point is that regional New South Wales is moving in the opposite direction to Sydney. While there are now few rising markets in the state capital, there are growth locations spread across the regions of NSW.
Hotspotting’s Winter 2018 survey for The Price Predictor Index reveals that a record 38 local government areas have growth markets – a total of 60 suburbs or towns with rising sales activity.
1. Newcastle and the Hunter Region form a compelling growth precinct. Suburbs in the City of Newcastle have had very strong price growth (most have had double-digit growth and some have risen 20% or more) in the 12 months.
Now the momentum has shifted to neighbouring Lake Macquarie and locations in the nearby Hunter Region near Newcastle (including Maitland, Cessnock, Singleton and Muswellbrook).
Sales in the suburb of Rutherford in the Maitland LGA have been 64, 75, 70, 91, 86, 99 and 102 in the past seven quarters, while Medowie in the Port Stephens LGA have risen from around 40 a year ago to 55 in the latest quarter.
2. Muswellbrook and Singleton continue to improve after the previous downturn caused by over-development and a downturn in the coal industry.
Muswellbrook’s quarterly sales have risen from 41 to 52 to 57 to 75 over 12 months. Singleton and Singleton Heights combined previously had 35 to 45 sales per quarter but in the past 12 months quarterly sales have been 55, 58, 88 and 86.
Following the merger of the Wyong and Gosford LGAs to form the Central Coast LGA, this municipality is now a significant market in regional NSW. The sales patterns suggest this market has probably passed its peak – there are a large number of Plateau markets, places where sales activity has tapered off at levels below the peak.
But sales growth in the recent past has created strong growth in median house prices in the last 12 months, including in Narara (13%), North Gosford (16%), Terrigal (10%), Toukley (15%), Umina Beach (17%) and Wyoming (16%).
3. Queanbeyan on the ACT border continues to stand out as an affordable growth alternative to Canberra. The LGA of Queanbeyan-Palerang has multiple suburbs/towns with upwardly-mobile sales activity. Quarterly sales in Queanbeyan (the suburb) have been 38, 40, 50 and 59 in the past year.
Queanbeyan is closer to central Canberra than many parts of the ACT, has more affordable prices than most Canberra suburbs and benefits from first-home-buyer incentives available in NSW.
Other regional centres to stand out as above-average markets in regional NSW include Albury, Armidale, Bathurst, Dubbo, Grafton Gunnedah, Lismore, Orange, Parkes, Tamworth and Wagga Wagga.
A number of regional towns that would normally not attract much attention from investors are also rising, including Griffith, Inverell, Kempsey, Leeton and Tumut.
A standout is Merimbula on the far south coast of NSW. Quarterly sales have been 36, 46, 47, 56, 55 and 60 in the past 18 months and the median price has risen 18% in the past year.4
Terry Ryder is the founder of hotspotting.com.au
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terryryder-YECXbqmri2

The three strongest property markets in NSW: Terry Ryder

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>An intriguing set of building activity figures as ever for the March 2018 quarter. </div>
<div> </div>
<div>The most interesting point of note was how thousands of building approvals in the Victorian pipeline were kicked off as dwelling starts in the first three months of the calendar year (recall how Melbourne saw nearly 10,000 townhouses and apartments approved in only a two-month period in October and November last year).</div>
<div> </div>
<div>In New South Wales, on the other hand, there are more houses and apartments approved but not yet commenced than ever before, as developers grapple with tighter financing and languishing apartment pre-sales. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-IBA7-WMHTY8/W0V1rvQfoZI/AAAAAAAArAE/uj3Kf3OMkg82lMDyY8usAtL_kner9f9igCEwYBhgL/s640/BA3.jpg" width="640" height="360" data-original-height="783" data-original-width="1389"></div>
 
<div>Following on from the above, there was a near-explosion in the number of quarterly dwelling commencements in Victoria, to a seasonally adjusted 22,150, well over double the equivalent figure from a decade earlier. Melbourne's population growth has been tracking at record highs, and demand for housing is high.</div>
<div> </div>
<div>This alone was significant enough to send the national trend for dwelling commencements northwards. </div>
 
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<div>In Queensland more houses are being commenced in response to strong demand from interstate migrants, but the number of attached dwelling starts continues to moderate as the Brisbane apartment market rebalances. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-BIMygTTR1rg/W0V1sDgFn7I/AAAAAAAArAI/kBXZooy2BQQxTdc9h7P2ikm31-d-5uF1ACEwYBhgL/s640/BA4.jpg" width="640" height="374" data-original-height="790" data-original-width="1350"></div>
 
<div>Pipeline is enormous</div>
<div> </div>
<div>The number of residential dwellings units under construction also increased as a result of the Melbourne building boom to more than 224,000, a record high.</div>
 
<div class="separator"><img src="https://3.bp.blogspot.com/-93XBQZlcR8Q/W0V1rWumBwI/AAAAAAAAq_k/WE_s0iLsrJM_prad2slt7pILMs7kag7NACLcBGAs/s640/BA1.jpg" width="640" height="376" data-original-height="785" data-original-width="1336"></div>
 
<div>You can also see the leap in Victorian attached dwellings under construction to a record level, while Sydney completions are now finally raining in, which should result in a spike in vacancy rates in the harbour city as the year rolls on. </div>
 
<div class="separator"><img src="https://4.bp.blogspot.com/-iLo-uVMONQA/W0V1rqS_n-I/AAAAAAAAq_o/UBeacRrqL74NiZEC1WXR7wIxlJL6UMiAwCLcBGAs/s640/BA2.jpg" width="640" height="378" data-original-height="801" data-original-width="1351"></div>
 
<div>Both the value of building work to be done ($71.4 billion) and total building work in the pipeline ($95.8 billion) are at all-time highs in current prices terms. </div>
<div> </div>
<div>The big question mark is how many of the buyers of off-the-plan apartments will be unable to settle, especially if more valuations at settlement start to come in at under the contract price. </div>
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pwargent-M4siyDbqQY

Melbourne's population growth at record highs makes for strong demand for housing: Pete Wargent

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<div>There were nervous onlookers aplenty as APRA Chairman Wayne Byres prepared to speak in Sydney last week on prudential lending standards and sound lending practices.</div>
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<div>They needn't have been quite so fearful, in the event, as Byres reassured markets that while heightened scrutiny had uncovered some displeasing practices, most of the heavy lifting has already been done with regards to tighter lending standards.</div>
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<div>For subscribers to our market reports, a number of familiar themes raised: tightening standards have been applied incrementally over a period of several years (rather than overnight as often assumed), a new focus on comprehensive credit reporting to better capture pre-existing debt commitments of borrowers, and some very useful analysis of lower loan-to-value ratios and the decline of interest-only loans. </div>
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<div>While much has been made of a potential 'credit crunch' - mainly by interests hoping to see a credit crunch, it must be said - Byres reiterated how in aggregate annual credit growth has continued to track at 'very healthy' levels, especially for owner-occupiers at about 8 per cent. Of course, there are many unknowns about how this will all play out from here. Some parts of the housing market will fare well where demand from homebuyers is high, and others will struggle where the opposite holds true. Caveat emptor.
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<div>Computer says no credit crunch</div>
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<div>As Byres was busy adjusting his tie pre-speech in Sydney, financial markets were digesting the latest housing finance figures for the month of May.</div>
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<div>Supporting what Byres would go on to say in his speech, there was a seasonally adjusted increase in the number of mortgages written across all loan categories, defying market expectations, and a corresponding increase in the total value of lending.</div>
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<div>The 'trend' figures are still shaping lower, but at $31.9 billion the seasonally adjusted housing finance figures were pointing to anything but a credit crunch, especially for the homebuyer cohort.</div>
 
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<div>The average loan size for both first homebuyers ($344,600) and non-first homebuyers ($412,000) also hit a record high in May - both in monthly and rolling annual terms - so it appears that those borrowers able to commit to a loan have not seen borrowing capacity trimmed as much as feared, at least in aggregate. </div>
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 Where to from here? 
<div>Clearly no credit crunch in these figures, then, but my sense is that everyone would feel a bit happier with the world if the household debt to disposable income ratio was seen to be no longer rising from its present level of 1.9x. </div>
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<div>APRA has played its part in tightening lending standards for investors, rapidly reducing the stock and flow of interest-only loans (meaning more Aussies paying are now down their debt), and ensuring that new borrowers are stress-tested with what are very significant mortgage rate buffers. </div>
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<div>It's interesting to consider momentarily how so much market commentary has become morbidly fixated on a bad news narrative, almost wilfully overlooking a string of upbeat data over recent months.</div>
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<div>Westpac reported this morning that its consumer confidence index had surged to the highest level since all the way back in 2013, mirroring Aig's index showing the services sector expanding at the fastest pace on record, and jobs vacancies firing to their highest ever level. So much for it all being doom and gloom!</div>
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<div>Meanwhile the unemployment rate is easing back towards the lowest level in years, exports are tracking at record highs, and the rolling annual Budget deficit is in the best nick in a decade.</div>
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<div>All sanguine observers are quite clear on the missing piece of the puzzle, though: wages growth!</div>
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Lenders gonna lend: Pete Wargent

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Several factors are changing the Australian retail landscape and increasing the importance of shopping mall location and quality for mall owners, according to Moody's.
These factors are changes in consumers' shopping habits, including the growing popularity of online shopping, sluggish consumer spending growth, and increasing urbanization that is widening the wealth gap between metro areas and the rest of the country suggests that latest report from Australian real estate trusts (A-REITs).
"These factors will have varying effects on the five single-A-rated (A-REITs) with retail exposure over the next three to five years," the Moody's report said.
"Scentre Group, GPT Group and Mirvac Group are better equipped to face these challenges and will maintain their portfolio quality because of their malls' favorable tenant mixes and locations in wealthy and densely populated catchment areas."
The report notes that it "expects year-on-year retail comparable net operating income (NOI) growth to be 3.0%-3.5% for Mirvac during the coming 12-18 months, and 2.5%-3.0% for GPT and Scentre."
Without recycling initiatives, portfolio quality will weaken for Vicinity Centres (A2 stable) and Stockland Group (A3 stable), whichhave higher exposure to underperforming, midsize shopping malls.
It is expected their retail comparable NOI growth will remain below the others in the peer group, with Stockland at 2.2%-2.4% and Vicinity at 1.4%-1.6% during the coming 12-18 months.
The three A-REITs' exposure to the retail sector varies, it is around 20% of group EBIT for Mirvac, 30%-35% for Stockland, and 40%-50% for GPT according to the report.
Of the three, Moody's suggests Stockland's portfolio is the most exposed to the changes in the retail sector because of its lower asset quality and higher exposure to midsize assets located in areas with weaker economic fundamentals.
"Vicinity and Stockland are working to improve asset quality, their plan's are to sell weaker performing assets and to develop residential, hotel and office space at existing malls are likely to improve their portfolio quality. However, we believe that they are unlikely to make step changes in their portfolio quality as it will take time to market assets and find appropriate buyers at this point in the property cycle," noted the investment analysers.
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%201.JPG" alt="">
The retail environment is challenging and shopping mall owners have been facing slowing retail sales growth in Australia for the past four years, driven by low wage growth, rising household costs and, more recently, moderating house price growth, especially in Sydney and Melbourne.
These factors will continue to challenge retail A-REITs and their tenants, because they will constrain consumer spending and retail sales over the next 12-18 months.
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%202.JPG" alt="">
Additionally, the increasing popularity of online shopping will slow sales for traditional brick-and-mortar retailers and increase competition among shopping malls.
Despite what was only a soft launch of Amazon.com, in 2017, the percentage of retail sales made online in Australia (by dollar value) was 7.5%, the report noted.
With online sales in more established markets like the US and the UK at 12.5% and 15.5%, respectively, the Australian online market has room to grow over the next several years.
In move to capture a greater share of this growth, Amazon launched its subscription-based free delivery service, Amazon Prime, on 19 June at half the price of membership in the US.
Shopping mall owners are adapting to the increasing popularity of online shopping by expanding digital, social media, and mobile retail offerings as well as increasing their weighting to service-based tenants.
The report expects, "A-REITs to maintain this focus as they look to maintain their relevance in the face of changing consumer habits".
"As sales growth slows, expect retailers to focus more on store productivity across their existing networks."
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%203.JPG" alt="">
The recent acceleration of store closures, particularly from large department stores such as Myer, Target and Big W that are actively looking to scale back their sizable footprints, will alter shopping malls’ tenant mixes and weaken their ability to re-lease space now occupied by specialty stores at values above previous leasing arrangements.
The report forecasts that, struggling retailers will continue reducing floor space and closing stores but that despite these challenges, solid economic conditions are expected, which combined with stringent planning and zoning restrictions that limit new shopping mall development, will continue to support A-REITs' shopping mall portfolios and credit quality.
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Stockland's retail portfolio most exposed as Australian retail landscape changes: Moody's

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Georg Chmiel chats with Harcourts co-owner Mike Green about secrets for real estate investing.
One of the most charming and gregarious people in the real estate industry calls himself an introvert. But what will really surprise you about Harcourts MD Mike Green is the job that he sought before becoming an agent and what he has to say about investing in apartments. 
Green is co-owner of international real estate network Harcourts – a New Zealand native who made the hop to Brisbane (for the weather) and has since conquered not only Australia but nine other countries as well. 
We will get into Green’s secrets for real estate investing, but first let’s look at how he climbed the business ladder. He got into real estate purely by accident.  
“I was looking through the newspaper for a job, having just left university” he says. “I applied for a job washing cars in a car yard, and the guy turned me down.” 
That rejection sent Green back to the employment classifieds (remember those?). Eventually, he talked his way into his first property job at 19 as a real estate sales consultant with no experience and only one year of university. He hasn’t looked back since.
Does he still pine for the missed opportunity to wash cars all day long? I didn’t ask him, but I imagine not.
“I went into a profession that I just clicked with,” he told me. “I love the freedom of it, the impact you can have on people’s lives. Eventually, my wife Irene and I opened our own Harcourts franchise. Now (Harcourts Chairman) Paul Wright, Irene and I are the owners of the Harcourts international franchisor.”
Green’s secrets to success in business are available to anyone. “The reality is,” he says, “if you hang around long enough, you end up at the top — as long as you don’t do anything stupid and don’t annoy people.”
I have managed hundreds of people in my career and, as simplistic as it sounds, this advice is actually quite profound.
DISRUPTON
Green runs a major international real estate agency network with more than 900 offices in 10 countries. Is he worried about losing it all to a tech giant like realestate.com.au, purplebricks.com or Google? 
Not a bit.
“The only thing we need to worry about is disrupting ourselves by not delivering value,” he told me. Selling a home “is such an emotional and traumatic experience. Our clients actually want an advisor to help them through the process. It’s very hard to disrupt when you have hundreds of thousands of people on the ground doing just that.”
But Green did admit that there are still risks. No real estate company has a monopoly. 
“If we don’t add value to clients we will disappear like so many other companies in other industries have.”  
COUPLES
For Green, one of the benefits of a career in real estate has been the opportunity to work alongside his wife Irene, who is herself extremely successful in the industry in her own right. 
“Irene and I have worked together for nearly 30 years,” he said, “and it certainly creates its own unique challenges. You never stop talking about the business. It’s a really dangerous place to be when your wife technically reports to you, which was the case for a very short period of time.” 
After all, we all know who the real boss is…
That said, Green encourages other couples to consider a property career, as long as you can “keep a sense of humor and understand that, while the business is important, the relationship is far more important.”
WHAT SHOULD FIRST BUYERS DO?
Now, let’s get to Green’s advice for first-time buyers who are in a tough position because of high prices. 
“Government is more attuned to first-home buyers now,” he says. “Study up on the available first-home buyer grants and other incentives available.”
You should choose a “good property that can be readily resold and has a wide market appeal. What they say about location is very true. If you buy in a good location you will always be fine in the long term.”
And watch out for interest rates, which are still at historic lows. “Reality says that will change,” advises Green. “You should say, ‘Hey if the rates go up two percent or three percent, will I be OK?’ 
“Also factor in starting a family. If you have to live on one income, how will that look?”
ADVICE FOR INVESTORS
Green advises property investors to play it safe, too. His preferred investment is a three-bedroom home on a little bit of land and with a garage.
“They are very easy to rent, and if you need to sell they sell easily. Some investors look for houses that have been split up for multiple revenue streams, but those are harder to sell. They only appeal to other investors. If you are under pressure and need to sell, chances are other investors will be, too.”
Green made a 38% profit on his first investment home after only two and a half years. It had cost him NZ$29,000. Today, the same home is worth as much as NZ$1.8 million. 
Now, about apartments. While Green lives in one for the care-free lifestyle it affords, he doesn’t recommend apartments as an investment.
“They don’t perform as well in terms of rental return or capital gain. I’d recommend you spend a bit more and buy a three-bedroom house.”
Green firmly believes property investors today can still leverage a small amount of capital into a large and successful portfolio that eventually lets them live off their earnings. His own sons and a number of their friends are following just this strategy.
“I think you can do it today,” he said. 
“You have got to be a bit careful because there is more money involved. But as rents and capital gains grow and the mortgage is paid down, you are building wealth. Property will never be cheaper than it is today!”
Georg Chmiel, the chairman of Juwai, a Chinese website for buyers of overseas property, was speaking to Mike Green in what will be a monthly insight into the leading minds of Australian property experts.
He has spoken with LJ Hooker agent Bill Malouf about the ins and out of the Sydney market and REINSW president Leanne Pilkington about women in real estate.
He most recently spoke with Melbourne property developer Larry Kestelman about developing your first property.
 
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Georg Chmiel chats with Harcourts boss Mike Green on real estate investment secrets

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GUEST OBSERVATION
John Briggs, a 40-year-old on holiday, texted his wife Shirley: “Look at the glacier out there.” He waited for the reply, which came through on his mobile. At the time they were sitting next to one another on board the deck of their small cruise ship, along northern Alaska’s icy shores.
This interaction was reported to us during our research on digital behaviour. Results to date show that for many people digital communication now trumps natural conversations – and the appreciation of the present scenery has begun to elude many online devotees.
A corrective to this addiction has now emerged: the digital detox holiday.
Depending on which country you’re in, the experience might be labelled variously as “black hole resorts”, “offline escape retreats”, or “dead zone holiday options”. At its core, this emerging holiday trend is defined by disconnection from the usually omnipresent online and social media.
The concept of digital detox has changed
To assess attitudes toward this rising trend, we conducted a range of focus groups in Australia. We also plotted the changing ways the idea is being presented in the international media, analysing several hundred articles and documents from the past ten years.
Aside from some early references in 2009 and 2010, serious media coverage of digital-free holidays began in 2011. The experience was first offered as an elite product targeting the wealthy few. By 2016 and in 2017, digital-free holidays went from a niche product to one that appealed to a broader consumer base.
Even more interestingly, the kind of value sought in such an experience has also shifted over time. In the early years, these holidays were discussed as a means of escape and a way to de-stress. Last year, the emphasis was much more about building skills and attributes which could endure beyond the holiday.
The next phase of the work is to examine these skills more closely. Early indications suggest that couples and families use these experiences to learn to engage more fully with one another, undertake joint challenges. They appreciate that holidays offer bigger screen shots of the world than the view available on the mobile phone or laptop.
Australia’s remote geography is ideal
In Australia, where connectivity in remote locations is still a challenge, the digital detox holiday style may be a building block in the design of engaged, intimate holidays.
The opportunity to be offline will likely need to be coupled with a new suite of activities for tourists to enjoy. These may include photography, astronomy tourism, wildlife viewing, dancing and competitions, night treks and cooking classes.
<img src="https://counter.theconversation.com/content/99740/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">But these skills may be secondary to the chance of immersing oneself in conversation and joyous moments with travel companions. In the near future, there may indeed be a growing number of options for people like John and Shirley, our cruise holiday texters, to enjoy a retro holiday style where connectivity is an afterthought, not a central plank underpinning life and relationships.
Philip Lovell Pearce, Foundation Professor of Tourism, James Cook University
Li Jing, PhD Candidate, James Cook University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/more-of-us-are-opting-for-digital-detox-holidays-99740" target="_blank">original article</a>.
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More of us are opting for 'digital detox' holidays

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GUEST OBSERVATION
Recently, some of Europe’s most-visited cities have become surprisingly inhospitable to tourists. Barcelona residents have been openly hostile to visitors and officials are now cracking down on Airbnb rentals. Venice has been overrun with daytrippers and recently instituted tourist-only diversion routes. Dubrovnik has put a cap on the number of cruise ship passengers that can enter the city at any one time.
These destinations are suffering from what people in the travel industry call “overtourism.” The numbers speak for themselves. Europe was the most frequently visited region in the world in 2016, accounting for close to half of the 1.24 billion international tourist arrivals. Spain, a nation of 46.5 million people, welcomed a remarkable 75.3 million visitors in 2016. Croatia, population 4.2 million, saw more than triple the number of tourist arrivals.
Australia hasn’t yet experienced visitor numbers quite this large – there were just 8.24 million tourist arrivals in 2016 – but overtourism is becoming a concern here, as well.
What exactly is overtourism?
The awkward term overtourism describes a situation in which a tourism destination exceeds its carrying capacity – in physical and/or psychological terms. It results in a deterioration of the tourism experience for either visitors or locals, or both. If allowed to continue unchecked, overtourism can lead to serious consequences for popular destinations.
The situation has gotten so bad in certain locales in recent years, media outlets have started publishing lists of the “travel destinations you should avoid” and new terms like “anti-tourism” and “tourismphobia” are entering the travel industry lexicon. Tourist sites have even occasionally been targeted with violence, such as the string of attacks that took place in Spain last year.
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The causes of overtourism vary according to the destination. Recently, the disruptive agents of the sharing economy, like Airbnb, have been blamed for bringing more tourists into the heart of communities instead of just tourist sites. Cheap travel and package holidays are enabling more people to take short city breaks and cruises, particularly in Europe. Social media also plays a role in popularising places like Myanmar, which go from being off-the-grid to “must-see” destinations overnight.
The shifting focus of governmental tourism agencies play a role in overtourism, as well. Many agencies are now almost exclusively marketing-focused and their singular goal is promoting growth. For instance, Tourism Australia’s “Tourism 2020” strategy is clearly growth-focused. Its goal is stated simply on the website - to achieve more than AU$115 billion in overnight spending by 2020 (up from AU$70 billion in 2009).
Sustainable tourism strategies, once heavily promoted in the 1990s and early 2000s, no longer seem to be as high a priority.
Is Australia really in danger of overtourism?
Australian tourism sites like Kangaroo Island aren’t seeing visitor numbers anywhere close to Venice and Barcelona just yet. However, poor tourism policies may still lead to a form of overtourism if locals perceive their quality of life is being damaged by tourists.
For instance, the 2011 Kangaroo Island Pro-Surf and Music Festival faced considerable community opposition for its proposal to bring 5,000 visitors to the small hamlet of Vivonne Bay (population 400). Recently published research examining the policy process indicated it was a push by tourism authorities to boost tourism on the island that led to the event being imposed on the community. The backlash was so severe, organisers abandoned plans to host the event again in subsequent years.
However, this hasn’t stopped other tourism development schemes from being proposed. And the state Economic Development Board has recommended doubling the numbers of tourists on the island by 2020.
Tasmania, too, has experienced a tourist backlash in recent years. Most recently, thousands came out to protest a proposed cable car for Mount Wellington near Hobart. With claims by critics that the cable car would draw upwards of 1 million tourists per year, one can readily see the seeds for overtourism.
Another site that could be in danger is the Great Barrier Reef. Agricultural run-off, climate change and a crown-of-thorns starfish outbreak are currently posing grave threats to the reef, which could spark a phenomenon known as “last-chance tourism”, – a rush to experience a place before it’s gone for good.
What can be done?
Most experts agree government regulations are key to addressing the threats from overtourism. Many cities, for instance, are following Barcelona’s lead to tighten restrictions on Airbnb. The Thai government is closing popular Maya Beach on Phi Phi Island for four months every year to allow the sea life to recover. Creatively, Copenhagen is promoting a tourism policy based on “localhood”:
"A long-term vision that supports the inclusive co-creation of our future destination. A future destination where human relations are the focal point. Where locals and visitors not only co-exist, but interact around shared experiences of localhood. Where our global competitiveness is underpinned by our very own localhood. And where tourism growth is co-created responsibly across industries and geographies, between new and existing stakeholders, with localhood as our shared identity and common starting point."
And in New Zealand, the tourism board is actively promoting tourism visits outside of peak season. This is a good example of how government agencies can use “demarketing” strategies, or deflecting interest in places, to address rising tensions over tourism. Similarly, Majorca’s authorities have tried to rebrand it as a winter destination in an effort to reduce overcrowding in the peak season.
<img src="https://counter.theconversation.com/content/99213/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">With its “Tourism 2020” strategy, Australia is focused instead on growing its visitor numbers. The national and local tourism bodies should take a more sustainable and holistic approach to their tourism planning to reflect the values and desires of local communities. That will ensure visitor numbers remain in check and tourism remains an enjoyable experience – for tourists and residents alike.
Freya Higgins-Desbiolles, Senior Lecturer in Tourism Management, University of South Australia
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">original article</a>.
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Why Australia might be at risk of "over tourism"

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Creative workspace provider Spaces, has been named the winner of the best co-working space in Australia at the 2018 Qantas Business Travel Awards. 
This is the first year that the Qantas Business Travel Awards have given an award for co-working environments. 
CEO &amp; co-founder of Spaces, Martijn Roordink (picutred below) said that "to receive an award from one of the highest rated worldwide and the most popular airline in Australia is very meaningful for us".
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/11/Spaces%20CEO.jpg" alt="">
The award-winning office, X street Richmond, Melbourne, was one of the first co-working offices to be opened outside the Spaces headquarters in Amsterdam, Netherlands.
The integrated working environment of the award-winning office consists of desks, tables and booths in an open-plan design with caffeine coming from locally roasted single-origin beans.
Damien Sheehan, head of IWG Australia &amp; New Zealand says that he sees a shift in the workspace landscape in Australia and businesses are now looking closely at what this means for their corporate real estate portfolios.
“We are entering the era of the mobile workforce and it is hugely exciting, not just for individual employees, but for businesses too, there is a workspace revolution underway in Australia and businesses are waking up to the strategic and financial benefits that flexible office space can provide," stated Sheehan.
Today almost 70% of Australian employees are working at least one day a week somewhere other than the office, while 46% of Australian employees work remotely for half of the week or more and one in 10 people also work outside of their company’s main office location five times a week.
Spaces has locations in Europe, Canada, the United States, Latin America, Africa, Australia and Asia.  
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