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

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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

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

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An iconic hotel in Maitland in NSW’s Lower Hunter Valley is up for auction on June 15. 
The Family Hotel is at the northern gateway to the Maitland CBD.
The two-story hotel sits on a large site of 2,136 square metres. 
The hotel is easily recognisable with its pitched roof and overhanging verandahs, says its description.
Built in 1860, the pub is believed to have a resident ghost, was supposed to be the scene of a murder, has a hidden attic still furnished with original furniture and a ballroom with a sprung dance floor, according to the Maitland Mercury.
Manenti Quinlan and Associates of Sydney and Moore and Moore Real Estate of Newcastle have been appointed to market the hotel, following their recent success in selling Shenanigans at The Imperial in Maitland. 
<img src="https://www.urban.com.au/images/2017/05/19/FamilyHotel1.JPG" alt="">
Manenti Quinlan’s Gerry Quinlan said that Maitland was one of the sought-after hotel destinations in New South Wales due to its proximity to Sydney, Newcastle and the Hunter Valley. 
The hotel has been priced to attract a wide audience of investors and operators, said Deane Moore.
 
 
 
 
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Iconic Maitland hotel to go under the hammer

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Cleaning franchise group James’ Homes Services are launching a commercial cleaning arm in October targeting high rise offices and apartments, hotels, schools and aged facilities.
Mike Dowling, CEO and master franchise owner said more than $25 billion worth of commercial property changed hands each year creating enormous demand, particularly for end of lease and ongoing cleaning services. 
 “There is a major gap in the market and I believe James’ Commercial can fill it, and fill it well,” he said.
  “We are excited to be expanding into the commercial arena.
 “Commercial cleaning often means bigger jobs and can frequently be done after hours so there is huge scope for new franchisees interested in working flexible hours and taking on staff.  
"James’ Commercial will take on long-term contracts as well as one-off jobs.
  Mr Dowling purchased the master franchise in October 2015, throwing the business a financial lifeline.  
He said his ambition is to build the group and to make it the best in the business.
"I want to leave a positive mark on the industry and to see all of our franchisees succeed because when they do well, we do well also," he said.
 “It is a very different company today which is a direct reflection of the way we operate and the values we bring to the market. At James’, we care about people and we really understand our market.
"Cleaning is all about service so we work closely with our franchisees to ensure our customers have an exceptional experience.
 “It is this personalised approach that makes us stand out and we will be extending the same attention and support to our new commercial clients.  
“James’ Home Services is going from strength to strength and that is a reflection of the culture as well as the many new processes and procedures we have put in place to support our franchisees and deliver excellent service to our customers.  
<a href="https://www.jameshomeservices.com.au/" target="_blank">James’ Home Services</a> provides a wide range of cleaning and maintenance services from interior and exterior cleaning to mobile pet grooming and has operations throughout Queensland, Western Australia, Victoria, Australian Capital Territory and New South Wales.
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James’ Homes Services to launch commercial cleaning arm

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Based on the relationship between demonstrated housing demand and advertised stock levels we are seeing relatively more stock available for sale compared to demand for that stock across the capital cities at the moment.
The months of supply figure compares the number of unique properties advertised for sale to the number of transactions in the market. The analysis provides unique insight into how long it should take to clear the volume of stock currently available for sale. It is important to note that off-the-plan housing stock is typically not advertised for sale as individual properties and as a result is not included within this analysis.
Across the combined capital cities, there is currently 4.4 months’ worth of residential properties being advertised for sale. As the first chart shows, the months of supply is currently higher at this point of the year than it has been each year since 2012. The increasing months of supply is largely due to the slowing rate of transaction activity rather than a spike in properties available for sale, indicating demand has diminished relative to advertised supply levels which is pushing the figure higher. <a href="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2017-05-15--image1.jpg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/19/rsz_kusherchart.png" width="700" height="425">
Sydney – there is currently 3.0 months of established housing supply available for sale across the city. The city has seen consistently low months of supply over recent years however, the figure is currently at its highest level for this time of year since 2012.
Melbourne – established housing stock currently sits at 4.2 months of supply for the city. Supply levels remain quite low but are at their highest levels for this time of year in five years.
Brisbane – the city currently has 5.1 months of established housing stock available for sale. The months of supply figure is higher than it has been at this time of year for each of the past five years.
Adelaide – there is currently 3.7 months of established housing stock available for sale. Although stock levels are higher than they were at this time over the past two years, stock levels were higher over the three years previous to that.
Perth – at the moment there is 8.3 months of established housing stock available for sale throughout the city. This is a high months of supply figure relative to other capital but it is well down on the 8.7 months at the same time last year.
Hobart – the months of supply figure for Hobart is the lowest it has been for many years. There is currently 4.1 months’ worth of established stock available for sale which is down from 5.0 months a year ago and the 7.2 months the year previous.
Darwin – across the city there is currently 6.7 months of established housing supply which is well down on the 10.5 months at the same time a year ago and 7.5 months over the previous year.
Canberra – there is currently 2.6 months of supply of established housing stock for sale in Canberra. The months of supply level is the same as what it was a year ago but lower than the previous years highlighted.
Based on these figures it seems that the supply of stock for sale relative to demand is increasing in Sydney, Melbourne and Brisbane. Meanwhile demand is outweighing supply in Hobart and Canberra leading to a decline in the months of supply. In Perth and Darwin supply continues to dramatically outweigh demand but the balance is slowly improving. In Adelaide there has been little change in months of supply over recent years suggesting the market is in relative equilibrium.
Cameron Kusher is a research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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ckusher-ujnxiKuFQs

Fewer buyers results in greater months of supply: Cameron Kusher

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Expert Observer
It was announced in the 2017 Budget speech that the regulator APRA will explicitly be allowed to differentiate loan controls by location.
This is another move signalling that politicians and regulators don't trust banks to lend responsibly, while simultaneously inferring that they know better than the market what 'should' be happening in terms of property markets and lending activity (which may be a positive thing or a very worrying development depending on your outlook!).
Practically speaking this means that APRA might look to restrict the flow of credit into 'hot' housing markets - basically, Sydney - while presumably steering clear of intervention in markets where prices and rents are in a multi-year freefall (such as Darwin, Gladstone, or indeed any number of of Australia's resources regions).
This all sounds jolly good on paper, until you think about all of the potential ramifications of regulatory intervention. There isn't the space here to go into detail on this point, but it's a concern!
Lending finance rebounds
The March 2017 Lending Finance figures, which strangely never seem to get any media coverage, saw total lending jump tidily from $67.6 billion to $72.9 billion in seasonally adjusted terms.
<a href="https://1.bp.blogspot.com/-2f6hTXVdfZA/WR4AGIWCN3I/AAAAAAAAj6o/BW7FQ9Afn98N7wzbfoN5JlhkrJZtkOgQgCLcB/s640/A1.jpg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/19/rsz_lendingfinace.png" alt="">
Lending to homebuyers was relatively steady in the lead-up to APRA's latest round of macroprudential curbs, while nationally there was a moderate increase in lending to property investors (classified below under commercial lending).
It's generally reported that lending for real estate is unproductive and risky, while lending to business is productive and a good thing. This may be true to an extent, though there are many sub-trends to take into account.
Overall commercial lending saw a neat increase in the month of March to be solidly higher year-on-year, even if the recent trend series is flat.
Renovations rose to a 6.5 year high in March 2017, as Aussies apparently shunned stamp duties and trading up for staying put and renovating instead, though looking at the numbers in their historical context the 'renovation boom' story seems a bit less enticing.
Splitting out commercial finance fixed loans by industry shows how lending into the mining sector has all but evaporated, declining by a further 46 per cent over the year to March. Commercial lending to the mining industry has fallen to about a quarter of the level seen at the peak as the resources construction cliff now approaches its nadir.
Despite this massive contraction, annual lending for construction continues to expand at a sprightly double digit pace, a trend which belies Australia's over-reliance on the residential building sector.
Investor loans diverge
Carving up loans to property investors by state, it's clear that Sydney investors don't believe in the apartment oversupply and have been doubling down on harbour city real estate with a vengeance.
Lending for investment in New South Wales surged to $6.2 billion in March - 39 per cent higher than for the same month last year - signalling a huge rebound since APRA's first round of macroprudential restrictions.
There was also something of an increase in investor lending in Victoria which will warrant careful observation.
<a href="https://4.bp.blogspot.com/-FvHnxzfoySg/WR4AGTk0z8I/AAAAAAAAj6s/fAgDQzINy_seIhISKqHG962BVPuXvel_ACLcB/s640/A3.jpg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/19/rsz_investorloansbystate.png" alt="">
The massive divergence in fortunes across the states in the prevailing low interest rate environment is ultimately what led to APRA's new powers to target lending in specific neighbourhoods.
While Sydney property has been burning up, property investor loan volumes in the Northern Territory have collapsed to their lowest level in 11 years as prices and rents in Darwin continue to fall.
The wrap
Overall, it was a stronger month for lending finance in aggregate, with a sizeable lift in commercial finance.
The housing market figures pre-date APRA's announcement at the end of the month of March that new restraints would be applied to interest-only lending.
What the figures do show is the massive divergence in investor sentiment between the resources states and Sydney, and, to a lesser extent, Melbourne.
If this continues APRA may be called upon to use its new powers sooner rather than later.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">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" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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APRA may deploy its 'special powers': Pete Wargent

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Kew and St Kilda are expected to be the two busiest suburb auctions this weekend in Melbourne, according to CoreLogic.
The property data firm says Essendon and Mount Waverley are set to host 17 auctions.
Kew and St Kilda will host 19 and 18 residential auctions respectively, followed closely by Essendon and Mount Waverley each set to host 17 auctions.
The number of auctions scheduled to take place across the combined capital cities is set to rise this week, with 2,619 currently being tracked by CoreLogic, up from 2,409 auctions last week, and higher than the 1,920 auctions held over the same week last year.
<a href="https://www.propertyobserver.com.au/images/2017/05/18/Screen%20Shot%202017-05-18%20at%2010.30.14%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/2017/05/18/Screen%20Shot%202017-05-18%20at%2010.30.14%20am.jpg" alt="">
Auction activity across Melbourne and Sydney, the two major auction markets, is expected to increase, with 1,222 Melbourne homes to go to auction, rising from last week’s 1,098, and 1,003 auctions scheduled across Sydney, up from last week’s 960.
Across the smaller markets, volumes will also increase across the remaining capital cities, with the exception of Canberra where volumes are expected remain relatively steady.
<a href="https://www.propertyobserver.com.au/images/2017/05/18/Screen%20Shot%202017-05-18%20at%2010.30.29%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/2017/05/18/Screen%20Shot%202017-05-18%20at%2010.30.29%20am.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-kew-125296910" target="_blank">75 Studley Park Road</a>, Kew (above) has been listed for auction this weekend.
It last sold for $2.398 million in 2008.
Similarly a three bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-vic-kew-125235126" target="_blank">3/89 Earl Street</a>, Kew (below) has been listed for auction with a price guide of between $800,000 to $880,000.
It last sold for $610,000 in 2007.
<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/2017/05/18/3_89%20Earl%20Street.jpg" alt="">
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Kew, St Kilda the busiest weekend auction suburbs: CoreLogic

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Childcare centres remain a popular draw for private investors, with a 36-place G8 Childcare centre property in Sydney’s eastern suburb of Vaucluse selling for a record low yield of 3.6 percent at a Burgess Rawson portfolio auction.
The 5 Billong Avenue property sold for $4.425 million at the auction on May 16 in Sydney.
The lowest known net yield for a childcare centre before this was held by another Burgess Rawson auction, the 3.9 percent Hubba Bubba Childcare centre at 204 Mowbray Road in Chatswood sold last year, reported the Australian Financial Review.
Dean Venturato, Burgess Rawson director said yields for childcare centres are now edging closer to residential yields – usually a gross yield of about 3 to 3.5 percent in Sydney.
The yields in Melbourne for childcare centres are higher, as recent sales show. Five fully leased Victorian childcare centres sold for more than $44 million – an average of $8.8 million each, earlier this month. The five childcare centres generated an average 5.3 per cent yield, according to selling agency Savills.
The 708 sqm corner property has a 10-year lease to ASX-listed G8 with three further 10-year options to 2054. 
Net income from the property is $158,096 pa, with the tenant paying for all the usual outgoings including management fees.
The property was offered as part of a portfolio of five childcare investments at the auction.
<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/2017/05/17/Burgess2.jpg" alt="">
Even though the yields were low, Venturato said the value of the land accommodating these centres as well as secure cash flows were still more appealing than housing investment returns.
"Childcare centres consistently rate as our number one most sought-after asset class," Burgess Rawson director Dean Venturato was quoted as saying by the AFR.
"We have an over 95 percent clearance rate for these properties, proof of their immense popularity among private investors."
Another G8 centre in Maroubra, also in Sydney's eastern suburbs, sold for a net yield of 3.7 percent, at $3.53 million.
One private investor said she wasn't surprised at the low yields. "Even Matraville property prices [further south to Maroubra] are going up," she said.
All five Sydney metro childcare properties leased to G8 offered at Burgess Rawson's auctions sold for net yields between 3.6 percent and 4.1 percent, the lowest of the auctions.
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Childcare centre yields close in on residential in Sydney

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SPONSORED POST
Submissions have opened for the Annual REA Excellence Awards (AREAs) - the unique awards program that honours the most innovative, community-minded and highest-achieving individuals and businesses across the property and media industries.
Submission will remain open until 30 June 2017.
Awards include Innovation, Community, Service and Marketing Excellence categories and encompass the entire property industry (residential, commercial, project developers) as well as those working in media.
This year a brand new award has been introduced – the Gold AREA – Agency of the Year. The Agency of the Year award will recognise agencies who work hard to set themselves apart from competitors and excel in all three award categories.
The second AREAs will be held in November this year and are submission-based and reviewed by an independent judging panel. There will also be a consumer voting component for selected awards.
Andrew Rechtman, REA Group Executive General Manager, Residential, commented said REA Group wants to celebrate the industry’s success and achievements, and that means highlighting customer success and achievements.
“Every day we work with people across the property and media industries who are doing amazing things," he said.
"This includes contributing to their local communities, delivering exceptional service to their market and clients, or how they are using technology in new and innovative ways.
“We’re also excited to take it up a notch this year, introducing the new Gold AREA – Agency of the Year Award that will recognise the agency who has set themselves apart from the rest of the field,” said Mr Rechtman. 
For more information on the AREAs, <a href="https://www.theareas.com.au/" target="_blank">click here</a>.
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jchancellor-FAypfDUnLy

The REA Group AREAs are back

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Total vacancy across Melbourne’s ten key retail strips has risen to 9.2 percent from 7 percent over the 12 months to April due to falling consumer confidence and growth of online retail, but the food sector is expected to drive a recovery, according to the<a href="https://www.savills.com.au/research/australian-research.aspx?utm_source=PropertyObserver&amp;utm_medium=DigitalAdvert&amp;utm_campaign=CPOeNewsletterBanner-Q1-Research-17May2017&amp;utm_source=Property+Observer+List&amp;utm_campaign=98dcb3a1b3-Commercial_Property_17_May_2017&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-98dcb3a1b3-" target="_blank"> latest research from Savills</a>.
The research found Church Street, Brighton (pictured above) recorded the lowest vacancy of 4.1 percent, followed  by Glenferrie Road, Hawthorn with 5.3 percent (2.1 percent in 2016) and Centre Road Bentleigh not far behind at 5.5 percent (5.1 percent).
Predictably, Bridge Road, Richmond recorded a 15 percent vacancy, up from 13.6 percent. This included the withdrawal of 42 stores for residential conversion. Puckle Street and Toorak Road, in both South Yarra and Toorak, also recorded substantial vacancy rises.  
Savills associate director-Research, Monica Mondkar, said the strips had largely been impacted by falling consumer confidence and growing online sales, which had particularly impacted the fashion industry, but a surge in the number of café/food &amp; groceries stores was expected to drive a vacancy recovery. 
<a href="https://www.propertyobserver.com.au/images/2017/05/17/RetailVacancy.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/05/17/RetailVacancy.png" alt="">
 “These figures are hardly surprising given the well-publicised woes of smaller retailers and recent figures which point to consumers holding tighter their purse strings as they battle mortgage and rental stress,” said Mondkar.
“While food and café and restaurant sectors have seen substantial growth, it is the fashion industry, along with a decline in household goods stores, that has been the key to the rise in vacancy.
“That said, we expect vacancy to steadily recover as the number of cafes, grocery stores and services continue to grow in line with the surge in Melbourne’s inner city population, filling vacancies left by fashion and household goods stores.’’  
Australian retail trade grew just 3.14 percent in the 12 months to March, the lowest since March 2012 when it was 2.55 percent, ABS data showed. Similarly, Victorian retail trade growth in the 12 months to March (3.57 percent) was the lowest since March 2014 (3.46 percent). 
At the same time, online retailing grew by 9 percent year on year to March with Australians spending $22.23 billion on online shopping, equivalent to 7.3 percent of spending at traditional bricks-and-mortar retailers as measured by the ABS in the 12 months to February 2017. 
Viewed over the longer term – 2012 to 2017 - the research found of the 2,618 shops surveyed, the Cafes, Restaurants &amp; Takeaway Food Services category had seen the largest increase of 16 percent from 484 shops to 581 shops, and Services was up 12 percent - 545 to 609 shops. 
Clothing, Footwear &amp; Accessories saw a massive 27 percent or 213 store decrease to 568 stores. Household goods also fell a notable 24 percent.
The decline in fashion retailing is a suburban phenomenon, said Mondkar, with Savills retail data showing a 17 percent rise in the number of CBD fashion stores at the time of a 27 percent decline over suburban strips. The CBD gain could be explained by the influx of international brands over recent years especially at the new and refurbished shopping centres, Emporium and St Collins Lane.
“The figures appear absurd on face value but we have seen a massive arrival of foreign fashion houses to Melbourne’s CBD over the last three to four years and the arrival of one has attracted others like bees to a honey pot. Melbourne, Australia’s fashion capital is also a market which has been underpinned in recent years by a rise in tourism led shopping and the significant rise in the CBD population,’’ Mondkar said.
She said the reason for the fall in the number of household goods stores on suburban strips anecdotally reflected a preference for shopping at larger centres where parking and the number of stores provided accessibility, convenience and choice. 
Notable leases among the most popular fashion strips included Australian fashion designer Anna Hoffman, bridal jewellery designer Stephanie Brown and national fashion retailer Scanlan Theodore were the latest entrants, opening up new stores along High Street Armadale where Clothing, Footwear &amp; Personal Accessory retailing accounts for 32 percent of stores.
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Sector.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/17/Sector.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Sector1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/17/Sector1.png" alt="">
Church Street Brighton and Burke Road Camberwell, the two other high performing fashion strips, recorded fashion at 28 percent and 27 percent respectively, while national retailers Wittner Shoes, Gorman and Nique opened up stores on Church Street Brighton and Zeira shoes and CUE leased new shops along Burke Road Camberwell.
Low yields around 3.5 to 4.5 percent more common  
Yields and rents varied widely according to the particular attributes of the strip, Mondkar said.
“Strip retail, especially suburban strip retail has long been a favourite of the small investor and in recent years that focus has intensified with the emergence of the SMSF and of course record low interest rates,” she said.
“Yields have always been tight in these markets but those factors have seen even further downward pressure to the point where yields around 3.5 to 4.5 percent are now much more common,” Mondkar said.
“Rents can vary dramatically between precincts and indeed, in some cases, within precincts. They are very much about the location, the position within the location and current vacancy levels.” 
She said rents for strip shops in the best strip locations generally ranged between $800 and $1,200 a square metre. 
<a href="https://www.propertyobserver.com.au/images/2017/05/17/Strips1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/05/17/Strips1.png" alt="">
<img src="https://www.urban.com.au/images/2017/05/17/Strips2.png" alt="">
 
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Food services to drive recovery in Melbourne's strip vacancies: Savills

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Mackay Grande Suites, a 4.5 star hotel in central Queensland, is set to come to the market through CBRE Hotels.
The hotel has been marketed by several agencies over the past three years but now the ownership has been placed into administration.
The companies, directed by John Cowley, went into administration earlier this year and were also listed earlier this year with expectations of $30 million, according to the Northern Star.
Mackay Grande Suites has a site area of 2,029 sqm, and the seven-story building comprises 91 rooms, a bar and bistro, swimming pool, 45 electronic gaming machines and other amenities.
It has internal access to the adjoining Centrepoint Shopping Centre.
According to the brochure, the hotel has a  strong cash-flow business with diverse income streams and is being offered with vacant possession.
<img src="https://www.urban.com.au/images/2017/05/17/Mackay2.png" alt="">
Although the decline of the resource sector in 2012/13 hit the economies of Mackay, Gladstone and Emerald, there has been renewed investor interest and activity in the Mackay region due to the recent announcement of the proposed $22 billion Adani Carmichael project, the approval of the $555 million Mackay Ring Road infrastructure project and the resurgence in major industries including agriculture and mining, says CBRE.
Added to that, in 2016, sugar prices surged to the highest level in four years, while the mining sector also recovered with mining services companies benefiting from increased production due to higher coal prices. 
Tourism in the region has also risen off the back of extensive tourism campaigns and the record low Australian dollar.
All these factors are expected to drive the recovery in the Mackay economy in the short to medium term, according to CBRE, and the acquisition of the Mackay Grande Suites could be counter cyclical opportunity. 
The agency also says that “it is not unlikely that the asset will be sold below replacement value”.
<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/2017/05/17/Mackay3.jpg" alt="">
The Mackay Grande Suites and associated properties are being marketed by CBRE Hotels’ Wayne Bunz and Paul Fraser under instruction from voluntary administrators, Sam Freeman and Justin Walsh of Ernst &amp; Young. 
 
 
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Mackay Grande Suites hotel in central Queensland to hit the market

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One of Australia’s top truffiere’s, Needlesdale, around the Great Western Tiers mountain range in the rural farming region of Northern Tasmania, is on the market. 
The property at <a href="https://www.realestate.com.au/property-horticulture-tas-needles-7899878" target="_blank">110 Trickett Road Needles</a> is spread over nearly 80 ha, with approximately 50ha planted out to oak (potential to plant more) of varying ages up to 14 years old. 
Expected harvest of the prized Black Truffle is between 420 kg to 600 kg, and goes on from late May to mid-September. 
 <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/2017/05/17/Truffle.jpg" alt="">
Needlesdale can be bought as a going concern, or suited for someone keen to expand into the 'black gold' culinary market. It can also be developed further for tourism subject to council approval.
The property includes a three-bedroom manager's residence, modern machinery shed, Truffiere shed and some plant and equipment.
The Truffiere is close to the historic township of Deloraine, and midway between Launceston and Devonport. 
The property is being sold through expressions of interest closing June 23.
The listing agent is Michael Warren of Landmark Harcourts - Tasmania.
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