<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]

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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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Queenscliff in Victoria is the most popular retirement hotspot in Australia, according to CoreLogic's latest report.
The property data firm says that 40% of the population in Queenscliff are retirees aged over 65.
With only 2,904 residents, the small council area of Queenscliff on the Bellarine Peninsula in southern Victoria, recorded the highest proportion of retirees aged over 65 years (40.3%) according to the Australian Bureau of Statistics (ABS) population data.
The small council area of Quairading in Western Australia’s Wheat Belt region enjoyed the greatest house value growth over the year (+21.5%), followed by Shoalhaven in New South Wales (+15.3%).
Of the council areas that have recorded house value falls over the past year, the greatest falls have been recorded in Mount Remarkable in South Australia (-7.1%) and Flinders in Tasmania (-5.2%).
A review by CoreLogic of the ABS retiree population analysis highlights 50 council areas nationally are showing the highest proportion of residents aged at least 65 years of age.
Immediately noticeable by research analyst Cameron Kusher, is that not one of the 50 council areas listed is located within a capital city.
He said, “In fact, if we list all councils nationally by their proportion of residents aged at least 65, the first capital city area listed is Holdfast Bay in Adelaide with 23.1% of its residents at least 65 years old.
“Council areas within New South Wales and South Australia also dominate the list with each of these states having 13 entries on the list.”
<a href="https://www.propertyobserver.com.au/images/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.08.51%20am.jpg" target="_blank">Click to enlarge</a>
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A further feature of Top 50 retiree area analysis is that these particular retiree-centric council areas tend to have significantly lower median house values than the individual state capital city housing markets.
Mr Kusher said, “This could be due to retirees moving to areas where housing is more affordable in order to free-up capital for them to enjoy their retirement, it could also be out of necessity due to the high cost of housing within most capital cities.
“The locations are also likely to be linked to lifestyle preferences, with a large number of the top council areas located in regional coastal areas.”
Looking at the value growth performance for houses across these top 50 regions, the data shows that generally the rate of growth has been lower than that of the larger capital cities. 31 of the 50 council areas listed have seen house values rise over the past year.
A two bedroom house at <a href="https://www.realestate.com.au/property-other-vic-queenscliff-126250406" target="_blank">43 Hesse Street</a>, Queenscliff (above) has been listed for between $1.1 million to $1.2 million.
The property last sold in 2013 for $800,000.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-queenscliff-125950502" target="_blank">4 Beach Street</a>, Queenscliff (below) has been listed for between $850,000 to $920,000.
It last sold for $732,000 in 2015.
<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/2017/09/04/4%20Beach%20Street.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-queenscliff-125006542" target="_blank">16/30-32 Hesse Street</a>, Queenscliff (below) has been listed for between $350,000 to $385,000.
<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/2017/09/04/16_30-32%20Hesse%20Street.jpg" alt="">
Another two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-queenscliff-125456486" target="_blank">1/42 Gellibrand Street</a>, Queenscliff (below) has been listed for sale.
It last sold in 2009 for $1.65 million.
<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/2017/09/04/1_42%20Gellibrand%20Street.jpg" alt="">
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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jonathanchancellor-7SQnKwU6yx

Queenscliff ranks atop the 50 most popular retirement regions in Australia: CoreLogic

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One of Australia's most successful artists David Bromley and fashion designer wife Yuge have listed their Daylesford home.
The couple have been splitting their time down south between their Victorian country retreat and their home in Prahran.
The <a href="https://www.realestate.com.au/property-house-vic-hepburn+springs-126276294" target="_blank">early 1900s dwelling</a> is a character-filled family home, with their creative touch unmissable in the listing photos. 
It once had 13 bedrooms off its long central hallway, but now it comes with seven.
It sits on 2,200 sqm of parklike grounds. 
<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/2017/09/04/131%20Main%20Road.jpg" alt="">
Hockingstuart Daylesford agents Nathan Skewes and Glenda Rozen are asking $1.7 million for the home that for three decades had been a care home for dementia patients.
The Bromley's bought the home for $750,000 in 2013 when they were living in Byron Bay. 
Bromley retains warehouse space in the town some 120 kilometres north west of Melbourne. 
This article first appeared in the Weekend Australian Mansions Australia section. 
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firstname1-iYD4UYzvBa

Artist David Bromley lists Daylesford retreat

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<div>The Reserve Bank of Australia (RBA) reported credit growth of +5.3 per cent over the year to July 2017, a fair bit slower than the +6.6 per cent seen a year earlier. </div>
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<div>The slowdown has partly been a reflection of business credit growth ambling along at an annual rate of +4.2 per cent, although surveys suggest that business investment is set to gather a bit of momentum. </div>
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<div>Growth in credit relating to housing market investors has slowed a touch to +7.4 per cent, now well under the 10 per cent cap, with more slowing to come based on recent monthly figures.</div>
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<div>Owner-occupier credit growth is still powering along, though, and total housing credit growth is still a sprightly +6.6 per cent, unchanged from a year earlier.</div>
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<div>Personal credit growth remains negative, as consumers tend towards mortgage buffers and offset accounts instead of of credit cards and personal loans. </div>
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<div>Shifts at the margin</div>
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<div>There's no doubt that it's become more difficult at the margin to gain access to housing credit, particularly for investor loans, and most especially for interest-only mortgages. </div>
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<div>The growth in investor loans is now well below the regulatory 10 per cent cap for each of the major banks, which between them account for most of the mortgage market. A couple of minnow lenders have been pinged with a speeding ticket, including the tiny Heritage Bank, so they'll be putting investor loans in the sin bin, perhaps for a month or two. </div>
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<div>But on the flip side, there's plenty of potential for most of the main lenders to loosen standards again for investment loans as we head into spring and beyond. </div>
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<div>Moreover, while APRA's latest ADI monthly statistics hinted at a marginal slowdown, the reality is that non-standard loans have to some extent been picked up by alternative lenders such as Pepper and their ilk. </div>
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<div>The RBA's figures show that over the year to July 2017 the total stock of outstanding housing credit increased by $113 billion to $1.69 trillion. In dollar value terms, this is the biggest annual increase ever recorded.</div>
<a href="https://www.propertyobserver.com.au/images/2017/09/04/RBA1.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><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/2017/09/04/RBA1.jpg" alt=""></div>
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<div>So, there may be a 'slowdown' of sorts underway, if you will, but as the above chart shows it looks like a shift in composition too.</div>
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<div>Moreover, every single one of the main lenders continues to increase its stock of mortgages outstanding, even if there has been a move towards home loans and away from investor loans. </div>
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 The wrap 
<div>Some one-track observers have noted that out of cycle rate hikes has crashed or destroyed demand for mortgage debt.</div>
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<div>I'm not sure what data source they're using to draw that conclusion - none, most likely - but the official RBA figures shows a record annual increase in housing credit, with a slowing in investor credit just beginning to flow through to the annual data.</div>
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<div>Experiences elsewhere in the world have shown that macroprudential measures tend to be effective for a while before borrowers and lenders find ways to get transactions happening again.</div>
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<div>The reality is that, in aggregate, interest rate differentials have only slowed lending slightly at the margin to date, while simultaneously boosting the bottom line and equity of gleeful banks. Out of cycle rate hikes were certainly never about funding costs, with the cost of wholesale debt barely having broken a decade-long downtrend.</div>
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<div>What would genuinely change the landscape would be a statement of intent from the RBA in the form of a hike in the cash rate, but in all likelihood that remains far away. 
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<div>In the event a couple of dozen lenders have already cut their mortgage rates since the beginning of July, most notably Westpac, in anticipation of the spring selling season. With the trend unemployment rate declining to its lowest level in more than four years and further improvements expected over the next few ahead by the RBA, it will be intriguing to see how claims of a 'perfect storm' and 'record mortgage stress' are reconciled with what's actually happening on the ground. I say that because it looks suspiciously as though mortgage default rates are refusing to rise from benign levels outside Western Australia. Naturally, household cash flows may appear weaker if accelerated mortgage repayments have become the norm. But the statistics show that although wages growth has been weak, the unemployment rate has been falling, and underutilisation is declining in volume terms. Genuinely, I'm intrigued to watch what the media will report having run so hard with the unprecedented mortgage stress meme. Not everyone agrees with the improving economy thesis, mind. Westpac sees the pullback of Chinese apartment investors leading to a sharp slowdown in residential construction and unemployment heading back towards 6 per cent next year. Watch, this, space!!!</div>
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<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
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The record year for house lending: Pete Wargent 

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One-third of commercial property deals in the first half of 2017 involved offshore money, according to latest figures from commercial real estate firm CBRE.
However, there was a decline in the volume of transactions as prices increase, prompting a standstill between owners and would-be buyers.
Australia was the top destination for cross-border capital in CBRE's latest survey on investor intentions.
Commercial property deals – across the hotel, office, industrial and retail property sectors – were at $10.8 billion in the first half of the year, compared to a year earlier when total sales were $15.6 billion. 
"Foreign investment still accounted for approximately one-third of all activity in Australia's commercial property sector, with demand for assets remaining strong given the higher yields and strong fundamentals demonstrated by the Sydney and Melbourne markets," CBRE research chief Stephen McNabb was quoted as saying by The Australian Financial Review.
About $2 billion Asian capital was directly invested into the local commercial real estate market in the first half, CBRE figures showed, a fall of 25 per cent from a year earlier.
But it fell less slowly than the overall drop, with transaction volumes down by 37 per cent.
The fall in investment activity was due to a lack of available stock rather than a decline in buyer interest, said McNabb.
Outlining the preference for Australian assets, he said in April a Hong Kong investor bought the Australian Securities Exchange headquarters at 20 Bridge Street in Sydney for a record yield – below 4.5 per cent – for more than $330 million
In June, Singapore's Keppel REIT outlaid $348 million to take a half stake in a new police headquarters in the Melbourne CBD.
He said Asian appetite was holding up into the second half as well, with Mirvac selling a half stake in a landmark Collins Street office development in Melbourne to Singapore's Suntec REIT for $414 million.
"At this stage of the yield cycle, which is nearing its peak in Australia's major markets, and with a reasonable immediate outlook for rent growth, there isn't a compelling reason to sell assets," McNabb said.
"From an investment perspective, assets remain eagerly sought after and this is evident in further yield compression across all assets classes nationally in the first half of 2017."
Around $US45.2 billion of Asian outbound capital was directly invested into global property in the first six months of 2017, up 98.4 per cent on the $US22.8 billion in the first half of 2016.
However, a slowdown in Chinese investment offshore is expected as the government there restricts the flow of outbound capital.
 
 
 
 
 
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Foreigners net one-third of commercial property deals in first half of 2017: CBRE

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Royce Hotel, that originated out of Melbourne's first Rolls-Royce prestige car dealership, has been listed with expectations of more than $60 million.
The 100-room Royce Hotel on St Kilda Road on the city fringe along with a four-level office building are being offered for sale by its Melbourne private owners and operators, the Bursztyn family.
The hotel’s 1920s art deco facade is a reminder of its origins as Melbourne's first Rolls-Royce prestige car dealership. 
They have been owned by the Bursztyn family since 2000. The family developed the hotel out of the old car showroom, retaining many of its heritage elements including its chandeliers, leadlight windows and ornate ceilings, according to The Australian Financial Review.
The office building includes a permit for another 67 hotel rooms.
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The five-star hotel has 100 guest rooms and suites,besides the award-winning dish Restaurant, the amberoom bar, conferencing and event facilities, a gymnasium and 25 undercover car spaces.
The listing agents are Dan McVay and Sam McVay of McVay Real Estate Australia, a boutique commercial real estate agency that focuses purely on the sale of major assets. 
The hotel is being marketed via an international expressions of interest campaign.
"The Royce Hotel has been privately managed as a standalone hotel since its opening in 2000 and now provides the opportunity to introduce branded hotel management to further improve both the sales distribution networks as well as creating cost efficiencies," Dan McVay was cited as saying by the AFR.
"A number of the hotel rooms used to be car service bays.” 
He added that the potential to add another 67 rooms was an added enticement with a 100-room hotel "right on the edge" of the scale buyers sought. "Every extra room added will go straight to the bottom line," he said.
The site area is 2,164 sqm. 
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Melbourne’s Royce Hotel listed with $60 million hopes

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Canberra is the third most expensive capital to purchase a unit, according to CoreLogic’s latest report.
The property data firm says that units in Canberra have a median price of $415,000.
This is cheaper than Sydney’s median unit price of $695,000, but is more expensive than Hobart’s $273,500.
<a href="https://www.propertyobserver.com.au/images/2017/08/28/Screen%20Shot%202017-08-28%20at%201.23.21%20pm.jpg" target="_blank">Click to enlarge</a>
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Canberra is also the third most expensive place to purchase a house with the median price sitting at $605,000 compared to Sydney’s $875,000 or Hobart’s $385,000.
A three bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-queanbeyan-125807802" target="_blank">10/43 Anthill Street</a>, Queanbeyan (above) has been listed for between $410,000 to $425,000.
Built in 2006 it last sold for $405,000 in 2016.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-kingston-125389850" target="_blank">50/29 Dawes Street</a>, Kingston (below) has been listed for $410,000.
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Canberra third most expensive capital to purchase units: CoreLogic

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Benowa Village Shopping Centre on the Gold Coast is on the market through an expressions of interest campaign closing 5 October.
Coles Supermarkets Australia listed the property through JLL.
The centre was built in 2016 and features a Coles supermarket, McDonalds drive through, Coles Express service station and 13 specialty stores.
Sam Hatcher, JLL Director of Retail Investments said the centre contains the largest supermarket in the Main Trade Area, allowing it to capitalise on the considerable forecast population growth and retail expenditure in the trade area.
“We see growth in the retail spend and rental profile being realised through a large population of almost 41,000 in the Main Trade Area, projected to grow strongly at 1.5 percent to just under 50,000 persons by 2030,” he said.  
“ The Gold Coast has traditionally had an undersupply of full line supermarkets; as prime development sites have been absorbed by high density residential developments. This further highlights the dominant outlook for Benowa Village.”
JLL’s Jacob Swan said that neighbourhood shopping centres remained tightly held with only 28 transactions recorded nationally in 2017 to-date (totaling $893 million), compared with 65 in 2016 ($1.6 billion).  
“Queensland has had a disproportionately high level of activity relative to the other states," he said.
"Interestingly, of the 28 neighbourhood shopping centre transactions that have occurred this year, 14 have been in Queensland compared with only nine in Sydney and just four in Melbourne, highlighting investor confidence within Queensland’s retail market. 
“Given the shortage of available investment opportunities in New South Wales and Victoria, interest in Queensland assets has grown significantly.
"There is strong pent-up demand for prime neighbourhood centres so we anticipate considerable domestic and offshore interest for this centre.”  
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Benowa Village Shopping Centre, Gold Coast, listed for sale

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AccorHotels will take over the management of Crowne Plaza Adelaide and rebrand the hotel to Pullman Adelaide.
The change comes into effect 1 October 2017.
The hotel, 16 Hindmarsh Square has 308 guestrooms, restaurant and bar as well as meeting room facilities. It will become AccorHotels’ 15th Pullman hotel in Australia. 
Simon McGrath, Chief Operating Officer of AccorHotels Pacific, said for some time we have been looking to bring the Pullman brand to South Australia, and through our relationship with the Hines Property we are thrilled to be operating Pullman Adelaide.
 
“We are very proud to be partnering again with Hines Property to bring such a prominent, well respected brand to the city of Adelaide which continues to see strong levels of tourism growth, thanks to strong leadership by the Weatherill government and investment in infrastructure,” he said. 
“Pullman is now the fastest growing upscale brand in Asia Pacific and over the last three years, our Australian network of Pullman hotels has grown 77 percent.
"With the strength of our distribution and loyalty platform, we are excited to be growing our network in Adelaide and giving our guests even more reason to travel to South Australia.
James Hines, Managing Director of Hines Property said partnering with AccorHotels and the Pullman brand will enable the hotel to move from a 4.5-star offering to 5 stars.
“We have already forged a fantastic local partnership with AccorHotels through their management of Hines Property’s award-winning ibis Adelaide, so we’re really pleased to now be able to build on this relationship through the Pullman brand and further enhance the hotel as one of Adelaide’s finest,” he said. 
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AccorHotels take over Crowne Plaza Adelaide management, announce rebrand

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Shopping mall owner Scentre Group said it was working on a development pipeline of $900 million on projects in Perth, Melbourne and the Gold Coast, which includes the greenfield development at Westfield Coomera (above).
The others are Westfield Carousel in Perth and Westfield Plenty Valley in Melbourne.
The Westfield Shopping Centre owner expects returns in excess of 15%, it said during the half-yearly results announcement.
“Our announcement of the $470 million (SCG share: $235 million) development at Westfield Coomera (above), our first greenfield development in more than 12 years, reflects our commitment to growing the business, improving the quality of our portfolio and meeting customer and retailer needs,” said chief executive Peter Allen in an earnings release.
The new 59,000 square metre regional centre will comprise Coles and Woolworths supermarkets, an Event Cinemas complex including Gold Class, Kmart and Target discount department stores, and 140 specialty stores including an alfresco leisure and dining precinct.
The group also completed the $355 million development at Westfield Chermside, which includes a new fashion galleria over two levels establishing Chermside.
Adjacent to the galleria is the new entertainment, dining and leisure precinct, with 25 new restaurants and cafes and a laneway with a village atmosphere. 
The redevelopment is expected to add more than $300 million in retail sales and is forecast to exceed expected returns, creating significant long-term value for shareholders. 
Among current developments, Westfield Whitford City is on track to open in September.
Scentre reported funds from operations (FFO) grew to $638 million for the six months to June 30 and said it was on track for a full-year growth of nearly 4.25%.
The FFO figure represents 12.01 cents per security, up 3.5% and distribution of 10.86 cents per security, up 2%. 
Excluding the impact of transactions, FFO growth would have been nearly 5%, Scentre said.
Net operating income increased 2.6% for the six months, driven by contractual rent increases. The group, which owns Westfield Shopping Centres, maintained its forecast range of 2.75% - 3.0% growth for the full year.
Interestingly, fast-food franchisee SumoSalad was locked in a rental dispute with landlord Westfield recently, and was close to negotiating lower rents through its tactic of insolvency laws.
The Scentre Centre group owns and operates 39 Westfield shopping centres, including 16 of the top 25 performing centres in Australia with assets under management of $47.4 billion, it said.
For the six months, profit was $1.4 billion, which included $929 million of revaluation gains driven by growth in operating income across the portfolio and the completion of the Westfield Chermside redevelopment.
Comparable specialty sales in the portfolio grew 2% for the twelve months and 1.5% for the six months to 30 June 2017, with average specialty sales increasing to $11,250 per square metre. Strong sales growth was seen in the food retail, food dining, technology &amp; appliances and retail services categories.
“The portfolio’s high specialty sales productivity ensures strong demand from retailers wanting to generate growth in sales and customer engagement,” Allen said.
The portfolio remains more than 99.5% leased.
The group announced that it will extend its current practice to grow distributions at a lower rate than earnings growth until it reaches a payout ratio at 85% of FFO. The distribution is targeted to grow at 2% per annum until the target payout ratio of 85% is achieved. Once this target is achieved the distribution is expected to grow in line with FFO growth. 
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Scentre Group lines up $900 million Westfield centres in Gold Coast, Perth and Melbourne 

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A restaurant in Melbourne's Camberwell sold after the auction recorded 290 bids and set a benchmark yield for a retail property in the blue-chip suburb of 2.34 percent.
The sale of the restaurant, Tandoori Den at 261 Camberwell Road, Camberwell to a private investor for $2.509 million reflected a land rate of $12,400sqm.
Fitzroys agent David Bourke said five bidders competed at the auction after the campaign received strong enquiry from local and offshore buyers.
“There is an estimated 1,500 new apartments about to come online or in the pipeline around Burke Road and Camberwell Junction, with a new 12-storey apartment tower near Aerial the latest development to be approved," he said.
The 180sqm part-two storey building is on a 202sqm site and sold with a secure 5+5+5+5-year lease at a building rate of $13,939 per sqm.
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