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.

Joel Robinson

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

<main data-perf-region="main">
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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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

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

<html><body>
A contemporary five bedroom home behind its Federation Armadale facade topped the nation's results when it fetched $5.925 million at its weekend Marshall White auction.
<a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125599174" target="_blank">The </a><a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125599174" target="_blank">9 Alleyne Avenue, Armadale </a>offering was the renovation project of the advertising guru turned property developer Nick Condon, who was formerly managing director of ad agency DDB, and his interior designer wife Kate Beadle.
They secured $900,000 above reserve for the 1910 home that traded in 2014 unrenovated at $2.022 million. They kept the home’s charming red brick facade and the front four rooms, adding a modern extension with five metre high ceilings at the rear.
National clearance rates continued to trend below 70 per cent across the combined capitals, with preliminary results showing 69.1 per cent of auctions found a weekend buyer.
There were 2,323 capital city auctions held this week, down from the 2,444 held last week.
"This week’s preliminary result indicates that clearance rates are continuing to soften," CoreLogic auction analyst Kevin Brogan said.
"Compared to results from one year ago clearance rates are relatively similar with the 67.4 per cent rate of clearance," he noted.
Volumes are up slightly on last June when there were 2,183 offerings.
"Underlying demand is still strong," the Domain chief economist Dr Andrew Wilson noted in Fairfax Media reports.
"And this year, we have higher mortgage rates for investors," Dr Wilson added.
Melbourne’s preliminary clearance rate increased to 71.9 per cent this week, according to CoreLogic, up from last week’s final of 71 per cent, when the lowest clearance rate since July last year was recorded.
Auction volumes decrease slightly with 1,050 auctions held over the week, down from 1,129 over the previous week.
At the same time last year, the Melbourne clearance rate was 68.3 per cent across 1,085 auctions.
The Mornington Peninsula region was the best performer in terms of clearance rates, with an 87.2 per cent success rate across 44 auctions, followed by the North West region, where 79.5 per cent of the 90 auctions sold.
Melbourne had the cheapest result when $262,000 was paid at Moonee Ponds. It had been tipped to sell for around $240,000 to $250,000.
The one bedroom at 6/78 Argyle Street had last sold in 1997 at $53,500.
Across Sydney, 918 homes were taken to auction this week with the preliminary clearance rate for the city at 73.1 per cent.
The final clearance rate dropped for the third week in a row, with 66.7 per cent of the 927 auctions clearing last weekend.
The volume was lower one year ago, when 768 Sydney homes were taken to auction for a 73.4 per cent clearance rate was 73.4 per cent.
Sydney's highest result was a longway from the traditional Saturday auction hotspots, as winter triggers fewer listings.
Offered for the first time in 29 years, an imposing Glenhaven home on a five acre estate fetched $4,625,000. <a href="https://www.realestate.com.au/sold/property-house-nsw-glenhaven-125607338" target="_blank">The vast six bedroom residence</a> was built in 2001. 
The preliminary clearance rate in Brisbane this week was 30.7 per cent, down from 46.4 per cent over the previous week.
Auction volumes were lower this week with 129 auctions held, down from 151 last week.
But Wilston secured a record price when a four level home at 39 Ray Street sold for $3,851,000.
<a href="https://www.realestate.com.au/property-house-qld-wilston-125614870" target="_blank">The seven-bedroom, seven bathrooms trophy home</a> sits on a 1657 sqm block, with a pool, pool house with a shower and bathroom, and a tennis court.
It was sold through Queensland Sotheby’s International realty agent Douglas Tonkin who sold it to an international buyer, whose top bid broke the suburb record of $3.2 million.
"Fastidious owners have remodelled and extended the home to incorporate multi-level living flowing out to the finest in al fresco entertaining and recreation," Tonkin advised.
A total of 101 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 67.6 per cent across 68 results, down from 69.5 per cent last week when 103 auctions were held across the city.
Adelaide's prices ranged between $313,000 at Ingle Farm and $940,000 for <a href="https://www.realestate.com.au/sold/property-house-sa-linden+park-125593922" target="_blank">a 1950s house at Linden Park</a>, which was marketed as representing land value. There had been $790,000 price guidance.
A four bedroom home at <a href="https://www.realestate.com.au/property-house-sa-ingle+farm-125637250" target="_blank">24 Sloan Road</a> at Ingle Farm had been marketed with $300,000 price guidance.
In Perth, 54 auctions took place this week, with Perth’s preliminary clearance rate of 36 per cent higher than both last week’s result (32.3 per cent) and one year ago (31.9 per cent). 
Canberra’s preliminary auction clearance rate of 73.9 per cent this week is higher than last week, when the final auction clearance rate was 50.8 per cent and higher than the 61 per cent recorded last year.
Canberra's top sale was $1.4 million when <a href="https://www.realestate.com.au/property-house-act-o%27connor-125622950" target="_blank">79 David Street, O'Connor</a> was auctioned, having been marketed with $1.25 million plus hopes.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Federation Armadale home tops weekend auction results

<html><body>
<div style="text-align: left;" align="center">
 
Residential property prices have had four consecutive quarters of growth according to the ABS who report property prices rose 2.2 percent in the March quarter. 
 
Price rose 3 percent in Sydney, 3.1 percent in Melbourne and fell 1 percent in Perth and Darwin 0.9 percent in Darwin.  Marcel van Kints, Program Manager for the ABS Prices Branch said while residential property prices rose in most capital cities this quarter, Sydney and Melbourne continue to drive the national result.
 
Yearly growth in residential property prices reached 10.2 percent in the March quarter 2017, according to the ABS. Sydney recorded the largest through the year growth of all capital cities at 14.4 percent and by Melbourne at 13.4 percent. The total value of Australia's 9.9 million residential dwellings increased $163.1 billion to $6.6 trillion. The mean price of dwellings in Australia is now $669,700. 
 
</div>
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-23%20at%209.53.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/22/Screen%20Shot%202017-06-23%20at%209.53.58%20AM.png" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

March quarter rise for residential property prices: ABS

<html><body>
Shopping centre giant Vicinity Centres has begun the search for a new chief executive with Angus McNaughton to retire at the end of this year.
The surprise announcement comes just under two years since Mr McNaughton stepped back into the top role in controversial circumstances following the merger that formed formed Vicinity.
"Including my time with Novion and its predecessor, CFS Retail Property Trust Group, I have been involved with this business for nearly 10 years," Mr McNaughton said in a company statement on Thursday.
"It has been a privilege to be part of Vicinity's transformation and, together with the board and executive team, to establish Vicinity's strategic direction.
"Vicinity is in a strong position and I am very confident in the highly competent executive team that we have built and their ability to drive the future growth of our business."
In August 2015, Mr McNaughton replaced Steven Sewell, who led Federation Centres when it merged with the larger Novion.
​But Mr Sewell's management styled irked the new board, which moved to axe its chief executive just two months after the the 2015 merger was formalised.
Mr McNaughton, who had stepped aside when the merger took place, was recalled and has led the growth of the renamed Vicinity, now an $11 billion property trust, since then.
The New Zealander has bedded down the amalgamation that created the second largest listed landlord of Australia retail property.
Among the highlights of his renewed tenure, Mr McNaughton has overseen a $660 million expansion of Chadstone shopping centre, now Australia's largest mall.
The mall is co-owned by Financial Review Rich Lister John Gandel, who is also Vicinity's largest shareholder and will be influential in the selection of the its next chief executive.
Among the challenges for Vicinity's next leader will be the rapidly changing retail environment that is forcing landlords to rework their massive shopping centres to re-engage shoppers enticed by the ease of online retailers such as Amazon  
</body></html>

Mall giant Vicinity's CEO to resign

<html><body>
An idea seemingly out of left field given record dwelling completions in Sydney, but stick with it. 
Despite record apartment construction in 2016, the rental market is ultimately governed by the supply of rental properties on the market and the demand from tenants, not the absolute number of properties built.
Sydney is a city with an unusually high demand for rentals, for a few reasons.
Firstly, because it's an expensive city to buy a home to live in, and in an era where job stability is far less common most inhabitants will be a part of the rental market at one time or another (if nothing else the high rates of stamp duty ensure this). 
Sydney can also be a transient type of place - the harbour city attracts the most migrants from overseas, but also loses the most incumbent residents interstate or to the regions of New South Wales. 
This is a dynamic which leads to a high rate of churn and lots of tenancies. 
As home to the strongest economy in the nation in recent years, the annual rate of net overseas migration into New South Wales has been accelerating again, from 50,000 in 2010 back up to to more than 76,500 at the last count in September 2016. 
<a href="https://www.propertyobserver.com.au/images/2017/06/22/A1new.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/22/A1new.jpg" alt="">
<div id="post-body-2812967251055994400" class="post-body entry-content">
 And then there is the unprecedented boom in the number of international students. <div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/06/22/A2.jpg" target="_blank">Click to enlarge</a></div>
<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/2017/06/22/A2.jpg" alt=""></div>
 <div>At the same time, a significant crackdown in lending to investors is underway, with a credit squeeze and rates being hiked on investor loans, while investors increasingly starved of credit are beginning to turn their interest to cheaper markets upstate or interstate. </div>
<div> </div>
<div>Changes announced in the state budget were designed to bring more first homebuyers into the market in their stead. </div>
<div> </div>
<div>Domain Group reported this week that apartment rents have increased by 17.4 per cent in Sydney over the last five years, with the growth in apartment rents topping 20 per cent in half a dozen sub-regions. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/06/22/DOMAIN.jpg" target="_blank">Click to enlarge</a></div>
 <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/2017/06/22/DOMAIN.jpg" alt=""></div>
 <div>Sydney may not be at full employment just yet, but with an unemployment rate of just 4.4 per cent it's been getting pretty close, and we know from historical experience that this tends to bring a high demand for rental properties. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/06/22/B1.jpg" target="_blank">Click to enlarge</a></div>
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/22/B1.jpg" alt=""> <div>Sydney also has a track record of seeing rental prices spike when demand for investment properties falls sharply, such as from 1985 to 1988 (negative gearing ban), and in 2008 (financial crisis). </div>
<div> </div>
<div>A post to bookmark and watch over the next year. </div>
<div> </div>
<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>.
</div>
</div>
</body></html>

pwargent-M4siyDbqQY

Is Sydney heading for a rental crisis?

<html><body>
After a long period of soft housing market conditions post the 2008 GFC, we’re seeing a pick-up in housing demand across regions, according to CoreLogic research analyst Cameron Kusher.
Buyers are looking outside the capitals for "more affordable options,” he said after analysis of the 50 most populous non-capital city council areas.
“While a majority of the regions are showing an upward swing, areas linked to the mining and resources sector are continuing to see values fall.”
Of the non-capital city council areas analysed, areas close to Sydney are seeing the strongest growth in New South Wales.
As an example, the Wollongong council area is the most expensive for houses ($730,427) and units ($530,170).
The area also recorded the greatest increase in house values, and now holds the fourth highest increase in unit value over the past year.
“Places like Wollongong are on the rise as demand ripples away from Sydney where affordability constraints are more pressing.”
Regional areas in Victoria which are close to Melbourne are experiencing value growth, however, Mr Kusher said.
“It is nowhere near the magnitude to which values are growing in those locations close to Sydney.”
“Although values are rising, the softer growth can be linked to the fact that values have not risen as sharply in Melbourne as they have in Sydney and subsequently affordability hasn’t deteriorated as severely in Melbourne,” he said.
For Queensland, the results are more mixed with the south-east corner generally seeing values rise, while across the remainder of the state, growth is extremely mild or values have fallen.
Stripping the spotlight from Brisbane, CoreLogic confirmed that the Gold Coast, Sunshine Coast and Noosa are now seeing more rapid value growth than for Brisbane.
“It seems as though much of the demand across these regions is coming from an acceleration in internal migration to Queensland, and where buyers from Sydney and Melbourne are using substantial equity earned to secure lifestyle properties in the state.”
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2011.42.30%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/22/Screen%20Shot%202017-06-22%20at%2011.42.30%20am.jpg" alt="">
Of the areas observed by CoreLogic, each of the 24 regions highlighted in New South Wales have recorded value growth for houses over the past year.
For units, only 4 of the 24 regions have recorded value falls over the past 12 months.
In Victoria, of the 10 regions analysed, two recorded value falls over the year for houses and 2 regions also recorded falls for unit values.
Greater Shepparton was the only council area of the state which recorded value falls for houses and units.
Of the 13 regions highlighted for Queensland, five have recorded value falls for houses over the past year and seven have recorded declines for units.
Each of the regions highlighted in Western Australia have recorded value falls over the past year for houses and units.
Launceston was the only region analysed in Tasmania and it has seen house and unit values rise over the past year.
It should be noted while values have increased they have done so at a more moderate pace than those in Hobart.
Mr Kusher said, “Overall, we’re seeing housing demand in regional areas of the country is rising.
“While many regions are seeing values increase, the strongest demand appears to be in those areas within relatively close proximity to capital cities, particularly those which are coastal and tap into lifestyle demand.”
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
</body></html>

ckusher-ujnxiKuFQs

Regional areas showing home values rising: Cameron Kusher

<html><body>
A land parcel with development potential in the north-west Sydney suburb of West Pennant Hills has been listed for sale.
Located at <a href="https://www.realcommercial.com.au/property-land+development-nsw-west+pennant+hills-502365662">14-16 Highs Road</a>, the 0.41 hectare block is being marketed as "for a developer seeking a land with a view".
McGrath agent Mark Vinogradov suggests the property offers the potential for retail, commercial or housing
He noted that the cosmopolitan hub of Castle Hill is close by.
The median price of houses in West Pennant Hills is $1.65 million, which is an increase of $105,000 compared to last year's median price.
The area also has 668 more website listing visits than most suburbs in NSW.
Older residents account for the majority of the area with 31% living in the area with 15 percent of established residents as the second largest.
</body></html>

West Pennant Hills site with development potential listed

<html><body>
Most indicators suggest that Melbourne has moved into first place as the city creating the most jobs and growth.
That said, the New South Wales Treasurer handed down a 2017-18 Budget yesterday revealing that the state's finances are in rude health.
Each month I've been tracking the unprecedented stamp duty take resulting from Sydney's property boom, a gift which has kept on giving.
It was reported yesterday that the state beat projections in 2016-17 to hit another surplus of $4.5 billion, with NSW now in a negative net debt position, boasting a net worth totalling more than a quarter of a trillion dollars, and with enough left over to set up a $15 billion Future Fund.
To complete the virtuous circle the state now plans to unleash a towering $72.7 billion spend on infrastructure, incorporating an impressive range of projects, a further record $7.7 billion for health infrastructure, and $4.2 billion to build 26 new schools and to fund upgrades.
This is a positive move for Sydney, and the harbour city will need to get these projects moving to fill the hole left by any coming downturn in the rate of apartment building.
Melbourne vacancies keep falling
We seem to have reached an inflection point in this property cycle.
Lower interest rates spurred record numbers of property investors into the market since 2012.
But now regulators and banks are winding back interest-only loans and have introduced tougher serviceability measures and higher mortgage rates for investment products.
And this is at a time when demand for rentals has never been higher, with employees changing roles and locations more frequently than in times past, and a record boom in international visitors and students.
While the rate of dwelling construction has been impressive, I recently mused <a href="https://petewargent.blogspot.com.au/2017/06/is-sydney-heading-for-rental-crisis">here</a> whether the number of available rental properties will keep up with demand this year and next. 
Vacancy rates declined across much of Australia in May, with the national vacancy rate dropping from 2.4 per cent to 2.2 per cent. 
Vacancies remained super-tight in Hobart (0.6 per cent) and Canberra (1 per cent), while in Sydney the vacancy rate declined to just 1.8 per cent. 
Vacancy rates ticked down in Brisbane, Perth, and Darwin in May, though from elevated levels in the case of Perth and Darwin, where median asking rents continue to slide. 
In Melbourne the vacancy rate is almost in freefall, halving from more than 3 per cent at the end of 2014 to a 7-year low of just 1.5 per cent.  
Inflation impact?
SQM's asking rents index shows rents already rising for apartments in Sydney (up 3.5 per cent over the year to June 20), and quite sharply for apartments in Melbourne (up 5.9 per cent).
<a href="https://www.propertyobserver.com.au/images/2017/06/22/SQM1-1.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/22/SQM1-1.jpg" alt="">
The vacancy rates figures suggest that rental prices may soon level off in the resources capitals, while there is mounting evidence of a tightening rental market in the two most populous capital cities.  
If rents do start to rise again then this has implications for monetary policy since rents form an important part of the consumer price index (combined with rising energy prices, a strengthening rental market could be enough to scope out further rate cuts). 
On the other side of the ledger, oil prices have declined to their lowest level in 9 months. 
Overall, the figures suggested that the rental markets in the weakest cities are approaching their cyclical nadir, while most other markets ex-Brisbane are either tight or tightening. 
Most notably, the feared oversupply in Melbourne has not materialised - if anything the number of available rentals is failing to keep pace with demand. 
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>.
</body></html>

Melbourne vacancies crash to a 7-year low

<html><body>
Mackay's housing market has had its second-largest annual housing median price fall, according to the REIQ'S Queensland Monitor Market's latest report.
Mackay reported the second-largest fall in the state’s annual median price, falling 8.7 percent from $345,000 in March 2016 to $315,000 this quarter.
Over five years the fall has been 24.6 percent, from $418,000 in 2012.
Sales volumes increased from 256 over the September quarter to 311 over the December quarter.
Listings have also increased, up by 40.5 percent, effectively preventing rising demand from putting upward pressure on prices.
Listings bumped up from 2372 listings in February 2016 to 3332 listings in February 2017.
The increasing number of listings has eliminated the benefits from the increasing demand of housing.
In contrast to other areas in regional Queensland, median days on market and median vendor discounting improved for the 12 months to February 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.24%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.24%20pm.jpg" alt="">
Median days on market reduced from 81 days in February 2016 to 69 days on February 2017, and, median vendor discounting reduced from 10.7 per cent to 9.8 per cent for the 12 months to February 2017.
This is a clear indication that demand is increasing and vendors are having more realistic price expectations.
For a fourth consecutive quarter, the median sale price for units followed a downward trend triggering a reduction in the annual median sale price of 14.6 per cent, from $266,500 in March 2016 to $217,500 for March 2017.
This compared with the median sale price of $325,000 five years ago in March 2012.
The most active price range for units is for transactions below $250,000.
The volume of transactions in Mackay has increased by 75.8 per cent from 33 sales in September to 58 sales in December.
The size of the unit market remains very small, which adds a level of complexity and challenges to a market where the number of listings increased by 57.5 per cent for the 12 months to February 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.32%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.32%20pm.jpg" alt="">
The market trend indicators to February 2017 position Mackay as the region with the longest median days on market (133 days or more than four months) and the highest vendor discounting (13.9 per cent).
The rental market in Mackay is weak, although the vacancy rate tightened from 7.9 per cent to 6.4 per cent in March.
Local agents indicated that vacant properties usually receive only one rental application and tenants have their choice of available properties.
The weekly median rent over the March quarter held steady or increased for three-bedroom houses, three-bedroom townhouses and two-bedroom units.
This was just the reflection of a stronger rental demand over the first quarter of the year.
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.58.42%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.58.42%20PM.png" alt="">
When assessing the 12-month trend for weekly median rents, three-bedroom houses and three-bedroom townhouses have followed a downward trend while two-bedroom units remained steady.
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.57.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.57.26%20PM.png" alt="">
This demonstrates the long- term challenges experienced by the rental market in Mackay.
</body></html>

Mackay's housing median price sees second-largest annual fall

<html><body>
Sydney’s median house price is expected to decline in the next three years.
Figures from BIS Oxford Economics has predicted that in 2020 Sydney’s median price will fall by 4% to $1.15 million compared to this year’s median price of $1.2 million.
This is compared to Canberra where it has an expected rise the highest of all, at 16% from $665,000 in 2017 to $770,000 in 2020.
The only other locality with a predicted drop in median price is Darwin where BIS Oxford Economics has predicted that there will be a fall of 1% from $525,000 to $520,000.
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2011.45.13%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/22/Screen%20Shot%202017-06-22%20at%2011.45.13%20am.jpg" alt="">
Similarly for units all locality except Adelaide, Canberra and Hobart are predicted to experience a decline in median unit prices.
The biggest is Brisbane with a predicted drop of 7% from $425,000 to $395,000.
Sydney, Melbourne and Darwin follow soon after with a predicted drop of 4%.
In contrast to this Hobart’s unit median price is expected to increase by 6% from $315,000 to $335,000.
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2011.45.22%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/22/Screen%20Shot%202017-06-22%20at%2011.45.22%20am.jpg" alt="">
</body></html>

Median house price for Sydney expected to fall in next three years

<html><body>
A student accommodation provider has put a portfolio of 14 long-term leasehold properties in central Sydney on the market through Savills.
The Furnished Property business currently provide 326 beds in 203 bedrooms and offer student and short-stay accommodation.
The listing comes amid a trend of increasing student numbers in the Harbour City. 
Full time international student numbers in Sydney’s five largest central Sydney universities showed strong growth in the last two years of available data (2014/2015) with increases of 4,115 and 3,221 respectively, according to Savills. 
Anecdotally, it appears that this growth has continued in 2016/2017, it says even as supply struggles to keep up with demand.
Savills Research indicated that 2,022 beds are in the development pipeline with development approval, or under construction, with expected completions from 2018-2020. 
The marketing is being handled by Conal Newland of Savills Australia.
<a href="https://www.propertyobserver.com.au/images/2017/06/21/SAVILLSSTU.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/21/SAVILLSSTU.png" alt="">
Newland had previously noted that there was a "critical undersupply" of appropriate Purpose Built Student Accommodation (PBSA) in Sydney.
The Furnished Property portfolio currently targets students, but is flexible enough to attract other occupiers.
“First established in 2001 by the current owners of the Furnished Property Business, the portfolio has steadily grown over the last 16 years. Its extensive track record of profitable performance demonstrates excellent margins and growth and includes a diversified range of accommodation offerings,” said Newland.
The portfolio comprises self-contained studios, one and two-bedroom apartments, together with twin and triple shared bedrooms. Most properties have communal facilities.
The majority of the properties are within 3.5 km of the Sydney CBD and all are close to amenities and public transport, according to Savills.
The expressions of interest campaign for Furnished Property closes July 19. 
“This portfolio presents an existing opportunity to acquire a well-established student housing business with significant opportunities to enhance returns and expand further into Sydney’s buoyant short-term accommodation market,” Newland said.
 
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News