<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

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Adjoining Melbourne buildings at 187 and 189 King Street have been sold to investors.
They went for $4.89 million and $5.32 million respectively.
Both were sold by private families who had used the properties for restaurant businesses.
The 187 King Street premises was double a-storey building on 187 square metres of land, sold fully leased to Hanabishi Japanese restaurant.
The double-storey building on the 186 square metre site at 189 King was sold vacant possession.
Generational changes of ownership prompted both sales, CBRE's Alex Brierley advised.
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j.ballantyne1990-6AQqhLzZaK

Hanabishi Japanese restaurant Melbourne premises fetch $4.89 million

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Elder House in Adelaide has been sold for $26 million to an unnamed, local, private investor. 
The five-level building was constructed in 1937 with sandstone facade, as the head office of Australian pastoral icon, Elders.
JLL director Roger Klem secured the sale on behalf of Challenger Life.
The property has 12,135 square metres of office accommodation.
It has 6500 square metres of modern office space partially leased to the Australian Institute of Business.
Klem confirmed the purchaser intended to partially occupy the building. 
“This property will immediately benefit via the City of Adelaide’s 10-gig input and the new owner is well advanced with key tenant negotiation," he told The Adelaide Advertiser.
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Elder House, Adelaide sells for $26 million

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Larry Kestelman has sold his Queens Road, Melbourne headquarters for around $60 million.
It has been bought by a Chinese investor.
The 10 Queens Road was sold on a yield of around 5%.
<a href="http://www.colliers.com.au/18940/" target="_blank">Colliers</a> were seeking tenants for vacant office space in March.
Kestelman bought the Queens Road tower in 2013 for $21.35 million on a 10.8% yield.
Number 10 Queens Road, at the north-eastern edge of Albert Park Lake, was bought after the entrepreneur was cashed up after selling his interest in Dodo to M2Communications for a reported $150 million.
He revamped the 8700 square metre building, which sits on a 2300 square metre site.
LK Property will retain its space in the building.
The 19-level building overlooks Albert Park Lake.
Kestelman is meanwhile planning to develop a $140 million, 10-storey office building in Fitzroy North.
“Not everyone wants to work in the city,” Kestelman recently told The Australian.
“My office is on Queens Road (near South Yarra). It’s a great spot. It allows me the benefit of being close to the city but not having to drive into the city every day.”
The 622 Nicholson Street site, currently the Moonlight Receptions function centre, is 3 kilometres from the city centre.
The developer considered apartments but decided on an office project since the Melbourne CBD office market is tight, with vacancy at just 4.6%, according to recent Property Council figures.
The project marks a departure for the developer, whose LK Property Group has largely focused on apartments, other than transforming its own head office.
The group’s flagship project is the $500 million Capitol Grand tower in South Yarra, where close to 80% of the stock below level 32 is sold.
The premium upper-level apartments are 35-40% sold.
 
 
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jchancellor-FAypfDUnLy

Larry Kestelman sells his Melbourne headquarters for about $60 million

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EXPERT OBSERVER
The number of settled transactions in the housing market has been trending lower since peaking in 2015.
Nationally, 465,788 settled house and unit sales transacted over the 12 months to May 2018 with the annual number of settled sales -7.7% lower over the year.
<img src="https://www.urban.com.au/images/2018/6/28/CL%20Pulse%20Chart%20Column%201.JPG" alt="">
As shown in the charts, the monthly data points to a declining trend in transactions with settled sales now sitting lower than the decade average.
Over the 12 months to May 2018 Sydney recorded 84,699 settled house and unit sales in Sydney.
Although the monthly data points to a slight rebound in transactions recently, likely the result of a surge in first home buyers since July last year.
Annual sales were -13.5% lower over the past 12 months. House sales were -11.4% lower over the year and unit sales were -16.0% lower.
Monthly sales volumes have consistently been lower than the 10 year average since May 2017.
While there is likely to be some revision as unsettled sales flow through, it remains likely that ultimately sales volumes are lower over the year.
Settled sales transactions have been trending lower for a number of years in Melbourne which is partly to do with high volumes of units under construction but also strong demand and relatively low supply of housing for sale.
With values now falling, the 83,444 settled sales over the past year was -12.9% lower than the previous year.
House sales are 13.2% lower and unit sales are down -12.4%.
As is the case in Sydney, it seems unlikely that once all off-the-plan properties are completed and settled that transaction volumes will be higher than a year ago.
Over the 12 months to May 2018 there were 48,050 settled house and unit sales in Brisbane.
On an annual basis, transaction volumes across the city were -12.1% lower over the year.
House sales have fallen by -8.3% over the year while unit sales have recorded a much greater fall of -19.8%.
Monthly sales volumes have been trending lower for a number of years and are now slightly lower than the decade average.
Volumes, particularly for units, are likely to see some moderate revision over the coming years but are likely to remain lower than they were a year ago.
<img src="https://www.urban.com.au/images/2018/6/28/CL%20Pulse%20Chart%20Column%202.JPG" alt="">
Over the past 12 months, 27,705 settled sales occurred in Adelaide which was 2.5% more sales than over the same period in 2017.
Annual house sales were 0.5% higher over the year while unit sales recorded a much greater 85% increase.
Adelaide is one of only two capital cities in which annual sales were higher over the year and it is also one of the few cities in which monthly transaction volumes are currently above the decade average.
Perth’s housing market has been in a downturn since 2014 however, there are some early signs that transaction are lifting, albeit for a very low base.
Over the past 12 months there were 30,393 settled sales which was 1.4% higher than the previous year with house sales 1.0% higher and unit sales 3.4% higher.
As the housing market slowly shows signs of improvement sales volumes may continue to climb.
Although dwelling values in Hobart are increasing at a much faster pace in Hobart than any other capital city, transaction volumes are falling.
This is largely due to strong demand and little supply of stock available for sale, advertised listings are currently around record lows across Hobart.
Over the past 12 months there was 4,915 dwelling transactions in Hobart which was -7.4% fewer than the previous year with house sales down - 7.3% and unit sales -7.9% lower.
Monthly sales are currently only marginally higher than the decade average.
Darwin has recorded 2,018 dwelling sales over the past 12 months which was -5.8% fewer than the previous year with house sales -7.7% lower and unit sales down - 2.1%.
Like Perth, Darwin has been in a downturn for a number of years but has seen an increase in transactions over recent months with last month’s sales close to the decade average.
Monthly transactions in Canberra are sitting right on their decade average however, the chart shows that sales have been trending lower for over a year.
Over the past 12 months, there were 8,310 settled sales which was -10.0% lower than the previous year with house sales down -3.0% and unit sales -16.5% lower.
With value growth slowing, it is reasonable to expect fewer sales over the short-term.
With dwelling values now falling and tighter credit conditions it is reasonable to anticipate that transaction volumes will continue to trend lower.
For sellers this means they will need to be realistic about their price expectations as buyers become more empowered.
As a result, sellers will need to ensure their marketing strategy is finely tuned and set appropriate prices in order to achieve a sale.
Fewer sales means less turnover, which in turn means less commission and less stamp duty revenue for state governments.
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ckusher-ujnxiKuFQs

Housing sale volumes trending lower: CoreLogic's Cameron Kusher

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Featuring the nation’s only rooftop skystand overlooking a major sports stadium, a new residential development in Woolloongabba has begun marketing.
Adjacent to Brisbane’s Gabba stadium, the Silk One project will boast a rooftop terrace 20 stories high, providing residents views of the ground.
The development is just 300 metres from the planned Woolloongabba Cross River Rail train station, 350 metres from Woolloongabba Busway and within two kilometres of major lifestyle and entertainment developments including Queens Wharf, Howard Smith Wharves and Dexus Waterfront,
"Silk One will combine lifestyle, access and amenity" suggests the developer.
Sarazin managing director Darren Dougan said the developer chose the Woolloongabba site, as it’s in prime position to take advantage of a changing Brisbane market.
“Contrary to the gloom portrayed by oversupply a couple of years ago, the proof is in the data - Brisbane’s off the plan prices are flat, not falling, and are forecasted to grow,” Mr Dougan said.
“Queensland’s interstate migration is the nation’s highest , the affordability gap between 1 Brisbane and Sydney is now at 66 per cent plus the jobs market is surging - with 130,000 2 net new jobs within the past year ,” he said.
CBRE Brisbane Managing Director Paul Barratt confirmed the confidence in Brisbane’s inner-city residential apartment market, “Brisbane not only offers premium value at attainable prices, but with the market due for a natural correction - the Queensland capital is ahead of its southern counterpart when it comes to long-term financial return.”
“Smart money follows infrastructure, and Brisbane’s infrastructure is at an all time high, in fact, there is over $12 billion in projects planned or under construction in the CBD alone,” he said.
The project will deliver 178 residencies comprising a mix of one, two and three bedroom open plan apartments with prices starting from $369,000 (including one car park).
Strategically designed to maximise the birds-eye views of the Gabba stadium, the unique Silk One skystand rooftop will offer an outdoor dining and BBQ space, resort-style pool, gym and spa as well as a big screen TV near the bar to ensure not a minute of the action is missed.
For those wanting to enjoy Brisbane’s glorious weather privately, each of the varying orientations benefit from deep balconies all northerly facing apartments on level eight and above benefit from stunning city skyline views.
Registrations and expressions of interest are now <a href="https://www.realestate.com.au/property-apartment-qld-woolloongabba-128459410" target="_blank">open</a> ahead of the global launch on 23 June 2018
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Australian first Skystand provides new views for Brisbane apartment buyers

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Fewer leasing transactions are occurring at Coffs Harbour.
The office market in Coffs Harbour features a slight but reducing oversupply, limited enquiry for leasing at stable rental levels and incentives for new leases, according to the latest report from Herron Todd White.
There are a number of office project developments that have commenced after pre-leasing agreements.
These projects range from smaller strata title office projects to larger developments.
The financial valuers found that the eastern precinct of the CBD remains prime with rental levels at $330 to $400 per square metre.
There is a strong pre-lease to a major tenant for the office component of the new Gowings development.
The impacts of reduced government spending, limited availability of grants and the retraction policies are clearly evident in the Coffs Harbour regional office market.
Rental levels remain sensitive at from $200 per square metre for lower quality to $280 per square metre for average secondary located space.
There is a lack of sales and leasing transactions within the office sphere of the market.
The valuers found that yields within Coffs Harbour remain firm based on the prevailing low interest rate climate.
Leasing activity is restricted with serious owners offering lease incentives or rent free periods to attract tenants.
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Fewer leasing transactions within Coffs Harbour: HTW 

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A super-prime trophy investment in Ivanhoe’s tightly-held Upper Heidelberg Road has sold under the hammer for $5.225 million.
The highest price paid for a retail freehold in the busy shopping strip.
Fitzroys senior manager Chris James and director Chris Kombi sold the property at <a href="https://www.commercialrealestate.com.au/property/137-139-upper-heidelberg-road-ivanhoe-vic-3079-2014360180" target="_blank">137-139 Upper Heidelberg Road</a>, which was offered to the market for the first time in 60 years.
The iconic two-storey building of 505 sqm comprises two shops and a first-floor gym on a 263 sqm site, with a wide frontage of around 13.33 metres.
James said the strong enquiry throughout the campaign led to fierce competition between six bidders at auction, and the sale price reflecting an exceptional land rate of $20,000 per sqm and tight 4.1% yield.
“The record result demonstrated the pent-up demand to acquire commercial property in this tightly-held market,” he said.
The ground level retail spaces have new five-year leases to longstanding tenants Romano’s Restaurant and French-style Laurent Bakery, and a five-year deal to first-floor tenant Vision Personal Training.
Zoned Commercial 1, the property is located just metres from the entrance of Ivanhoe Plaza.
Kombi said the offering presented a rare opportunity to secure an iconic Ivanhoe property with an excellent tenant profile and significant passing income.
“The property is brilliantly positioned on Upper Heidelberg Road and abutting Ivanhoe Plaza, and is home to key traders that, combined with national tenants including Woolworths and major trading banks along with popular local businesses, give the thriving Upper Heidelberg retail strip a unique village-style quality,” he said.
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According to Fitzroys research, Upper Heidelberg Road currently features less than 1% retail vacancy, which Kombi said is a further testament to the strength of the strip.
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Super-prime trophy investment sets Ivanhoe record

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The Greek Orthodox Community NSW, owners of 1-11 Oxford Street, Darlinghurst/Paddington are sounding out the City of Sydney with hopes for a hotel conversion.
The church community has been long criticised for the mostly dormant premises over the past decade or so.
The initial hopes are for a six story hotel, which would sit behind its historic three storey facade.
The council has received a pre-development application approach.
The hotel would be welcomed by landlords who have nearby retail, the relatives of those hospitalised nearby, and attendees at events at the SCG.
<a href="https://www.commercialrealestate.com.au/property/1-11-oxford-street-paddington-nsw-2021-12206319" target="_blank">Two years leases</a>are being currently offered through Gunnings for the empty historic building which was once known as the Grand Pacific Blue Room
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It sits on one of Sydney's best known and busiest intersections, the point where Oxford Street meets South Dowling Street, Victoria Street and Barcom Avenue.
The precinct is known by locals as Three Saints Square, a five-way intersection on Oxford Street that covers two suburbs, Paddington and Darlinghurst and it is controlled by two councils, the City of Sydney and Woollahra Municipality.
The building included the former Academy Twin premises which operated between 1974 to 2010.
It reportedly opened with Roman Polanski's Macbeth and quickly became one of Sydney's best-loved arthouse cinemas.
It was closed by Palace Cinemas in June 2010 when it was unable to reach a new lease agreement with the building's owner, the Greek Orthodox Community of Sydney.
 
 
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Greek Orthodox Community seek hotel conversion of Oxford Street, Paddington landmark building

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The Sydney CBD is facing a potential shortage of office supply at the end of the current development cycle, according to Colliers International.
“If white collar employment continues to grow at the forecast rates, we could realistically see longer term vacany rates fall back to historically low levels as the supply of new office space tapers off after the current pipline is delivered.
“New South Wales’ infrastructure boom has transformed the Sydney CBD into a vibrant and connected city. It’s now a vibrant and active city, almost unrecognisable from five years ago. 
“The NSW Government has initiated more than 40 infrastructure projects, with major developments such as the Sydney Light Rail and Sydney Metro train project set to catapult Sydney to a world class status.”
Colliers International research has found more than one million square metres of office space could be required in the Sydney CBD to satisfy white collar employment growth over the next 25 years. (See Graph 2).
“Counter-balancing the delivery of new office buildings between now and 2025, several existing office buildings will be withdrawn from the market and not returned as office towers in the next cycle, particularly in the precinct around Hyde Park where there will be a significant amount of conversion to hotel and residential use,” Mr Woodward said.
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Based upon this information, Colliers International forecasts the Sydney CBD vacancy rate may peak at only 6.7% in January 2025. (See Graph 3)
“There is limited new supply mooted for 2025 and beyond, and history has demonstrated that it can take 10-plus years to amalgamate significant land holdings, obtain the required planning consents and then tenant pre-commitment levels that feasibly allow a new development to commence,” Mr Woodward said. (See Graph 4).
“The developments at 200 George Street and 161 Castlereagh Street took over a decade to move from conception to delivery, and current projects such as Wynyard Place, Quay Quarter Tower and Circular Quay Tower are further examples of the long lead times to deliver new buildings.
“Our top tier institutional asset managers and developers are acutely aware of this longer term situation and are preparing now for the future.
“For example, Lendlease has amalgamated a ‘mega site’ on Spring and O’Connell Streets, adjoining 1 O’Connell Street. Many other developers and asset managers are seeking similar income-producing land banks to position themselves for the future.
“As a result of these conditions, and despite the fact the Sydney CBD has already reached record low yields and capital value peaks, purchasers are are still investing with a high conviction that the market will deliver strong returns moving forward. 
“We have never witnessed such a deep and diverse pool of global investors competing with our domestic fund managers and pension funds. Sydney is genuine global gateway city, and is the number one investment destination for international fund giants, sovereign wealth and pension funds and private investors alike, who all see long term value in the Sydney CBD office sector.”
Cameron Williams, Colliers International National Director of Office Leasing, said Sydney’s infrastructure boom had the potential to create a new future hot spot in the CBD office market as supply tightened in traditional precincts. 
“Currently, development is concentrated in the northern/core precinct but given the Sydney CBD commercial market is constrained along its eastern and western borders – and that vacancy is expected to remain low for the foreseeable future,” Mr Williams said. “The southern CBD corridor – south of Goulburn Street, to Central Station and beyond – is the likely next geographic location that can supply the CBD of Sydney with a significant amount of office space in the next 10 years. 
“With infrastructure projects such as Sydney Metro and Sydney Light Rail currently underway, those locations will become more connected and much more acceptable from a productivity perspective, not to mention easy to access for commuting staff.
“We see the potential for Central Station to become the next Barangaroo, to potentially to supply hundreds of thousands of square metres of office space to the market in 10 years or so.
“The southern precinct of the Sydney CBD is likely to be the next office hot spot from 2025 and beyond, with the potential to deliver more affordable space and provide an alternative location for organisations perhaps considering decentralisation to western Sydney.”
 
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Sydney's Central Station to be the city's next Barangaroo

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The historic Euroa butter factory in Victoria's Strathbogie Shire has sold.
The 1900's building 160 kilometres north east of Melbourne had been operating as a country style wedding and function venue in recent years.
The property at <a href="https://www.realestate.com.au/sold/property-other-vic-euroa-126750406" target="_blank">79 Boundary Road North Euroa</a> sits amid two hectares of gardens, a popular space in the summer months.
The garden function space can seat 160 people, while the indoor rooms can seat around 100. 
There are eight accomodation suites including a two bedroom managers quarters.
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The suites have retained many of the original features of the factory, including exposed red brick walls and parts of original machinery attached to the ceilings and walls.
There are a number of guest lounge areas, breakfast room and bar and a commercial kitchen. 
Colliers International agent Kim McQueen sold the property which when initially listed late last year had an asking price of $2.5 million to $2.8 million.
It last traded for $710,000 in 2004.
The opening of the factory marked the expansion of the then colony of Victoria's dairy industry in the 1890s. It produced more than 270 tonnes of butter and six tonnes of cheese.
 
 
 
 
 
 
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