<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

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

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Adelaide

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A warehouse/office in Adelaide’s northern industrial market has recently changed hands for $2 million.
Located on an expansive 8,380 sqm site, the 22-24 Plymouth Road property comprises a 393 sqm office and 2,058 sqm factory warehouse.
Leizak Investments trading as Atalanta Refrigeration has secured a 2,950 sqm warehouse/office facility in Wingfield to accommodate its expanding operations.
The property includes drive-through roller door access and dual street frontage.
CBRE’s Andrew Nagy, who negotiated the transaction in conjunction with fellow agents David Reid and Jon Nitschke, said the sale reflected local business growth.
“The purchaser was keen to secure property that would support their growing operations in the Adelaide’s metropolitan areas,” Nagy said.
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jonathanchancellor-7SQnKwU6yx

Warehouse in Adelaide's Plymouth Road fetches $2 million at sale

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Sydney is the most expensive place to purchase a house while bargains may be found in Adelaide, according to CoreLogic’s latest report.
The property data firm says that on average the cost of a private treaty house in Sydney is $780,000.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Capital%20city%20private%20treaty.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/2017/01/30/Capital%20city%20private%20treaty.jpg" alt="">
The average private treaty price of a unit in Sydney is $670,000.
Hobart is the cheapest place to purchase a house with an average cost of $350,000.
Adelaide has enjoyed the cheapest units at $301,000.
<a href="https://www.realestate.com.au/sold/property-unit-sa-blackwood-116166451" target="_blank">A recent Adelaide sale</a> (pictured above) was $302,500 at Blackwood, which has been a $310 a week rental representing a 5% yield.
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Adelaide's cheapest units sell at 5% yield: CoreLogic

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A major Adelaide Hills grazing property at Rockleigh sold last month, without any price disclosure.
The Rocky Hillview is one of the largest landholdings in the Eastern Mount Lofty Ranges <a href="https://www.realcommercial.com.au/property-commercial+farming-sa-rockleigh-501464791" target="_blank">comprising 1,264 hectares across 27 titles</a>.
It is split into two landholdings with the western landholding at 387 hectares and the eastern holding having 877 hectares of land.
The property is 25 kilometres north-west of one of South Australia’s major regional centres Murray Bridge.
It is 80 kilometres east of the Adelaide CBD.
Comprising of predominantly gently undulating to steep grazing country, some areas are suitable for cropping.
Despite no heavy scrub on the property some Mallee-type vegetation exists, but it does not impact on the grazing.
It has sheep and cattle yards.
The property was offered through Colliers International agents Jesse Manuel and Tim Altschwager.
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Rockleigh, Adelaide Hills farm Rocky Hillview, sold

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In Adelaide, 5.9 percent of houses and 11.3 percent of units resold over the September 2016 at below their previous purchase price, according to CoreLogic's latest Pain and Gain report.
The property data firm says that the proportion of loss-making resales trended lower over the quarter for each property type.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-14.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/2017/01/30/Corelogic-14.jpg" alt="">
The council areas with the highest proportion of loss-making resales over the quarter were: Playford (25.0 percent), Mount Barker (11.6 percent) and Salisbury (9.5 percent).
The Light, Mallala and Walkerville council regions each had no resales at a loss over the quarter.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-15%20copy.jpg" target="_blank">Click to enlarge</a>
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Adelaide losses trended lower over last quarter: CoreLogic Pain and Gain

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Adelaide’s residential development Realm Adelaide will be the highest in the city at 132 metres and feature 320 one, two, three and four bedroom apartments across 40 levels. 
Realm Adelaide’s two penthouses, priced around $5.5 million, span more than 500 square metres each and are divided into retreat and relaxation zones, and feature four bedrooms, with ensuites.
<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/2017/01/30/Realm_Renders_16038_AUSTIN_COMMON_DINING_FINAL_HI_RES.jpg" alt="">
Designed by Elenberg Fraser, founder Callum Fraser said Realm Adelaide’s golden geometric form will stand out on the Adelaide skyline, creating a strong architectural statement in the city.
“Befitting this prestigious address we sought inspiration from the European masters from Mies van der Rohe to Gio Ponti, those who invented the art of restrained design that exudes luxury,” Mr Fraser said.
<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/2017/01/30/Realm_Renders_16038_AUSTIN_COMMON_POOL_FINAL_HI_RES.jpg" alt="">
“The interior design pays tribute to the site’s heritage through a natural, tonal material palette enhanced by subtle gold detailing that reference this past.”
The development will have two levels dedicated to health, wellbeing and entertaining and the building’s eighth level, includes a CrossFit-enabled gym, dining and games rooms as well as a lounge and outdoor entertaining zone and a 25 metre lap pool and spa nestled among resort-like cabana seating.
Residents in the premium sky residences have access to a 500 square metre rooftop at level 39 as well as a wellness centre featuring yoga studio and private massage suite, spa, sauna and steam room pods.
<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/2017/01/30/Realm_Renders_16038_Austin_Street_Standard_Bedroom.jpg" alt="">
Realm Adelaide is being developed by Parallel Property, a private Sydney developer with family links to Adelaide.
Sales will commence in February.
For more information visit: <a href="https://www.realmadelaide.com" target="_blank">www.realmadelaide.com</a>
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Adelaide's highest residence in Realm Adelaide for sale at $5.5 million

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Adelaide is the second cheapest capital city to purchase a unit, according to CoreLogic’s latest report.
The property data firm says that out of the 114 sales observed by CoreLogic the average recent Adelaide private treaty price was $295,000.
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Capital%20city%20private%20treaty.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/2017/01/24/Capital%20city%20private%20treaty.jpg" alt="">
It costs on average $416,000 to purchase a home, which also makes Adelaide the second cheapest place to purchase a house.
Darwin is the cheapest place to purchase a unit with only a median price of $285,000 while a house in Hobart can cost up to $352,500.
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Adelaide second cheapest place to purchase a unit behind Darwin: CoreLogic

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The former Adelaide Crow, Patrick Dangerfield has his redundant Adelaide home for sale.
His onetime Henley Beach home hit the market this week, having returned to Victoria to play for Geelong.
<a href="https://www.realestate.com.au/property-house-sa-henley+beach-124536238" target="_blank">The five-bedroom Lawrie Street</a> house has $750,000 price hopes for its February 11 auction.
Dangerfield purchased the property in 2010 and then renovated the home to include dual living across two storeys.
He told the local paper he loved living near the beach during his time in Adelaide.
“The community are great and everything is just near by,” he said.
Harris Real Estate agent Hannah Delmenico scored the listing of the 742 sqm property at 24 Lawrie Street.
"The home will tick many boxes of multiple buyer groups including the lifestyle changer, the budding family, Airbnb hosts and, of course, developers," the marketing says.
The champion AFL midfielder paid $605,000 in 2010.
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Former Adelaide Crow Paddy Dangerfield lists former Henley Beach home

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The average time that a house in Adelaide stays on the market is 56 days, according to CoreLogic’s latest report, as at early January 2017.
The property data firm says that the average time for a unit in Adelaide is 64 days.
<a href="https://www.propertyobserver.com.au/images/2017/01/16/Capital%20city%20time%20on%20market.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/2017/01/16/Capital%20city%20time%20on%20market.jpg" alt="">
Darwin homes takes the longest time to sell with an average of 103 days on the market while units in Perth takes 93 days to sell.
Sydney is the place where properties take the least amount of time to sell with 35 days for homes and 41 days for units.
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Adelaide homes stay on the market for 56 days on average: CoreLogic

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Houses in Adelaide takes 52 days to sell, according to CoreLogic’s latest weekly report.
The property data firm says that it takes 71 days for units in Adelaide to sell once the are on the market.
<a href="/images/2016/12/05/Capital%20city%20median%20time.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Capital%20city%20median%20time.jpg" alt="">
Sydney has the shortest waiting time for both houses and units, with both types selling after less that a month on the market on average.
This is compared to Darwin where it takes 108 days for units to sell when they are on the market.
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Houses in Adelaide stay on the market for 52 days: CoreLogic

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Adelaide’s housing market has recorded moderate to steady activity over the recent quarter, reflective of ongoing transition and consolidation of the South Australian economy, according to WBP Property Group’s latest report.
CoreLogic reports a modest 0.4% increase in house prices from the June quarter, while the REISA reports more buoyant growth of 2.27% in the median house price over the June 2016 quarter.
While figures differ in the short-term, annual median values are consistent between sources with both reporting growth of around 5% during the last 12 months.
Transaction volumes were marginally down on the previous quarter, a solid outcome due to the seasonal influences of a particularly cold and wet South Australian winter and general uncertainty surrounding the federal election in July, the report noted.
Rents incurred an overall decrease of 1.5%, likely the result of labour force pressures, specifically static growth in wages, and an oversupply of housing on the outer metropolitan fringe.
The Adelaide market has been buoyed by investor activity over the past year, with mortgage indicators reporting a rise in new mortgages to investors.
It is evident interstate buyers, particularly from the eastern seaboard, are turning to Adelaide as an affordable way to growth their property portfolios.
The South Australian market also continues to appeal to a number of international buyers due to stability in stamp duty costs for foreign buyers, in contrast to its eastern seaboard counterparts that have increased these costs to the buyer segment.
Adelaide is experiencing a trending shift towards inner-city living, predominantly due to major infrastructure development completed or underway along the CBD’s Riverbank precinct.
The social shift continues to spur new supply of apartments in the CBD and increasing demand for housing in established inner suburbs.
Adelaide has seen an increase in the top end market with 13 suburbs now listing median house prices over $1 million.
With a large supply of outer suburban land on offer in recent years, there has been a recent state initiative to decrease Adelaide’s urban footprint and focus on increasing infill and subdivision within existing city areas.
Recent development policy and zoning changes, particularly through former industrial regions through the inner west, should see an increase of housing in the near future.
The developments at Bowden, St Clair and the Churchill Road precincts are recent examples of a state-wide infill focus.
“In the short-term, WBP Property Group expects a spring time spike in coming weeks with further sales activity and competition expected for the Adelaide market. With interest rates at record lows, thereby reducing the cost of borrowing, its expected affordable properties supported by sound and readily accessible infrastructure while attract strong interest,” the report stated.
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