<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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</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Canberra

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The fringe property market of Canberra has undergone significant development within the past 24 months, say valuation firm Herron Todd White in their April 2016 property clock. 
The once greenfield sites on the fringes of the city are now being developed into well planned and flourishing suburbs providing opportunity for owner-occupiers, investors and government housing alike.
The Gungahlin district near the ACT and NSW border is considered a fringe location by many locals due to its relatively new development and up until 2010 consisted of only five suburbs which were developed in the mid 1990s. Gungahlin is now a thriving area with half a dozen new suburbs emerging in the past five years.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%209.35.44%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%209.35.44%20AM.png" alt="">
One of the newest suburbs to be developed is Moncrieff which is still under construction. Local demand for vacant land in Moncrieff was so high that 77 residential blocks were sold within three minutes and many potential purchasers missed out. The average price of a vacant land in Moncrieff was $280,000. Naturally one of the factors causing such high demand in the fringe areas is the high prices being achieved in areas closer to the CBD.
In the past 24 months, we have seen a massive hike in prices for older stock within the Inner north and inner south precincts. For example, buyers have been purchasing older dated homes for $700,000 plus and then knocking them down in order to build a more modern custom-designed home, which essentially means they are paying $700,000 just for land.
For entry-level buyers it is hard to compete in these areas therefore they have ventured to areas such as Gungahlin which allows them to buy vacant blocks and build their dream homes at a much more affordable price. Gungahlin is tipped for strong growth in the next decade with the first stage of the light rail designed to cater to the Gungahlin region and due to be complete by 2020. With transport being a key factor in the success of a fringe area the long-term expectations for Gungahlin are strong in relation to other fringe areas in Canberra.
Property Observer found a few examples of recent sales in Canberra's fringes:
<img src="/images/2016/04/11/700_canberra.jpg" alt="" width="550" height="334">
1. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-act-gungahlin-120611081">24/80 Gozzard Street Gungahlin ACT 2912</a> (above) sold for $331,000
<img src="/images/2016/04/11/main-1.jpg" alt="" width="656" height="492">
2. A three-bedroom villa at <a href="https://www.realestate.com.au/property-house-act-gungahlin-121991866" target="_blank">78 Mary Gillespie Gungahlin ACT 2912</a> (above) sold for $522,000 recently.
Across Canberra 69 auctions were held this week with a 64 percent sales success including the $1,515,000 sale of the former bolthole of the former Federal Treasurer Joe Hockey.
Over the three months to December 2015, 7.6 percent of Canberra homes re-sold at a loss compared to 11.2 percent over the previous quarter and 10.9 percent a year earlier, according to the latest Pain &amp; Gain report from Core Logic RP Data.
The median price for a house in Forrest is $2,150,000, according to CoreLogic RP Data.
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Canberra's fringe suburbs seeing spike in home prices: HTW

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Eclipse House in Canberra City, sitting directly opposite the ACT Legislative Assembly, has sold for $13.525 million to a local investor. 
The 197 London Circuit place in Canberra City was sold via an international expressions of interest (EOI) campaign managed by Colliers International's Tim Mutton.
Eclipse House is an 11 storey B-Grade office building of 6,567sq m net lettable area and is tenanted by the ACT government until November 2016.
Local property investor Zapari Group purchased Eclipse House with long-term plans to convert the property into a hotel due to its prime CBD location.
The sale of Eclipse House, along with the sale of 20 Allara Street late last year, will see further urban renewal of tired office buildings in the CBD, added Mutton.
 
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Eclipse House in Canberra sold to local investor with plans for hotel

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The historic Canberra Brickworks site has been put up for sale by the ACT government with plans for a mixed-use project that includes residential.
The 16 ha property is a key infill site in Yarralumla, one of Canberra’s top suburbs which is also home to embassies and the Governor-General’s residence.
Up to 380 homes could come up on the site, in addition to retail, cafes, restaurants, recreational and health facilities, aged care and retirement living, said a press release by CBRE, which has been appointed by the Land Development Agency (LDA) to market the offering.
 CBRE’s Andrew Stewart, who is managing the campaign with Mark Nicholls, said the residential component alone could unlock more than $500 million.
“The ACT government is seeking developers who understand the opportunity juxtaposed with the significance and history of the site, with the vision being to repurpose this highly valued landholding and create a vibrant new community,” Stewart said.
The Canberra Brickworks was established in 1913 and has played a significant role in the building of the nation’s capital, with the iconic red bricks featured in many of the city’s homes and significant government buildings, including Old Parliament House and the Hyatt Hotel Canberra.
When construction of Old Parliament House began in 1923, the project was so large that a rail system was established to transport more than four million bricks to the site.
Production rates hit an all-time high in the 1950s as Canberra experienced its first population boom. However, by the mid-1970s, technology and housing trends had changed and the brickworks closed in 1976.
Stewart said the site’s location, just 3.5 kilometres from the CBD, would be a key drawcard for developers.
“Situated on the southern shore of Lake Burley Griffin, next to the Parliamentary triangle, Yarralumla is one of Canberra’s most recognisable and prestigious suburbs with a median property price of $1,135,000 compared with the Canberra median of $620,000,” Stewart noted.
The sale will be a two-stage process. The first stage will invite submissions through a Request for Proposal (RFP) while the second will see shortlisted companies invited for a Request for Tender (RFT) process.
CBRE’s Nicholls said the government’s vision was for the site to be transformed along the lines of urban renewal projects such as Sydney’s Carriageworks, the Midland Railway Workshops in Perth and Yorkshire Brewery in Collingwood, Melbourne.
The Carriageworks was converted from a rail construction hub into a multipurpose art centre, which has become a highly successful collaborative space. More than 500,000 people visited the site in 2014.
The 1887-era Yorkshire Brewery has been resurrected as luxury apartments, while the cluster of 19th century buildings that make up the Midland Railway Workshops are being revitalised to feature a large public square, surrounded by a diverse mixture of residential, commercial, health and entertainment buildings.
 
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Canberra’s historic Brickworks site put up for sale

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The ACT-government’s goal of promoting Canberra as an international destination has received a boost with the completion of the Canberra Airport’s first luxury hotel.
The Bates Smart-designed Canberra Vibe Hotel, operated by Toga Far East Hotels, has a  circular form inspired by the geometry of Walter Burley Griffin’s Canberra.
The hotel has 191 rooms, including 12 suites over six levels and nine apartments. Other features include conferencing facilities, a restaurant and bar and lounges. 
The $50 million, 4.5 star hotel is close to the airport terminal and Parliament House and is part of a resurgence of new hotel developments in Australia.
Canberra Airport Group CEO Stephen Byron said the hotel’s completion was a key piece of the puzzle in attracting international flights. 
He said as the only 24-hour airport between Brisbane and Melbourne, Canberra Airport was strategically positioned to expand internationally and expected to draw its first international carrier in 2016.
“This hotel is on a key strategic site of great importance to the future growth of the airport and is why we held a major design competition to arrive at the perfect outcome,” he said.
“In terms of expanding internationally, it is a question of when not if. Our strategy is to connect to a key Asian hub and every day we get closer to that. We expect it to become a reality in 2016.”
Appointed to the project after winning the 2013 design competition, Bates Smart based the design around a dramatic full height circular atrium that draws references from Griffin’s plan for Canberra with its circular and radial geometries.
“We have created a unique destination for travellers to be, one that will attract visitors with its timeless design that combines circular and axial geometries to create a distinctive form, drawn from its context,” Bates Smart director Philip Vivian said.
“A signature space for the hotel is its striking black and white atrium rising above a large-scale ground floor entertaining space catering for intimate gatherings as well as large-scale events.”
Vivian said Bates Smart had a number of hotel projects on the cards, including a new hotel at Barangaroo in collaboration with the UK’s Wilkinson Eyre Architects.
“It’s no secret that new hotel developments have been scarce in recent years due to the expense associated with purchasing sites in Australia,” Vivian said.
“New hotel developments are on the increase and we’ve been looking at a number in the Sydney CBD. The economy here is performing well, stimulating business travel, and the lower dollar is attracting the tourist market. Consequently, hotel occupancy rates are up, stimulating the need for new supply.”
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Bates Smart unveil new Canberra Vibe Hotel, as new build hotel industry gains momentum

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It appears that confidence is slowly returning to the Canberra housing market after conditions were relatively sedate since the 2010 federal election.
Last year the Canberra housing market recorded the strongest housing market conditions since 2011, with dwelling values rising 4.1% over the full twelve months to be 5.6% higher over five years.
Growth conditions have been concentrated within the detached housing sector, with house values rising 4.5% over the year compared with a 0.8% fall in unit values.
<a href="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%203.30.06%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/11/Screen%20Shot%202016-03-11%20at%203.30.06%20PM.png" alt="">
Dwelling investment likely to increase due to improving labour market and population growth 
The relative size of the housing market, limited data and the overall significance of the public sector to the local economy makes it difficult to reliably produce forecasts for property values in the ACT. 
Nevertheless, the ACT economy is gradually recovering from the recent fiscal tightening and public sector job cuts. NAB Economics expects economic growth to gradually improve and unemployment to stay low. With the improving labour market and population growth, dwelling investment is likely to improve as well in line with higher building approvals.
Similarly, an improving economy will provide underlying support to property values, the latest NAB housing insights report suggests.
 
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ACT dwelling investment likely to increase due to improving labour market and population growth: NAB

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The latest research from Canberra Cityscope shows property sales decreased in the past three months. 
Sales recorded in the quarter ending December 2015 totalled $87.7 million, a decrease from the $92.5 million recorded in the three months to September 2015, and a decrease from the $149.8 million recorded in the three months to June 2015. This data brings the 12 month total to $336 million, an increase from the $314.6 million recorded the same time last year.
The table below shows sales recorded for the past eight updates of Canberra Cityscope.
<img class="aligncenter size-large wp-image-6162" src="https://blog.corelogic.com.au/wp-content/uploads/2015/12/Pulse-CASalesGrid-580x311.gif" alt="Canberra Cityscope Quarterly Sales" width="580" height="311">
 
Recent standout sales in Canberra include:
<ul>
<li>The AusAID Building at 255 London Circuit, City; an 11 level, 8,972 sqm office building with parking for 134 cars, was bought for $70,025,000 in a sale handled by JLL Sydney and JLL Canberra.</li>
<li>33 Egan Court Belconnen, a single level, 1,725 sqm medical centre with parking for 60 cars, was bought for $8,650,000 in a sale handled by Burgess Rawson.</li>
<li>Guilfoyle House at 151 Oakden Street, Tuggeranong; a single storey, 1,500 sqm office and warehouse with parking for 130 vehicles, was bought for $4 million in a sale handled by Colliers International.</li>
</ul>
Properties for sale in Canberra in December 2015 include:
<ul>
<li>40 Cameron Avenue, Belconnen, a 5 storey A-grade office building with parking for 221 vehicles; is for sale through Colliers International Canberra. Book value of the building was at $42.5 million in December 2014.</li>
<li>Eclipse House at 197 London Circuit, City; a 10 storey, 6,567 sqm office building is for sale through Colliers International Canberra. The building last traded at $11.8m in April 2002.</li>
<li>14 Wales Street, Belconnen, a 2 storey, 3,800 sqm high-clearance warehouse building with parking for 25 vehicles, is for sale through CBRE.  The building was built as a secure facility for the then Commonwealth Department of Civil Aviation and last traded at $6.4m in January 2010.</li>
</ul>
<img class="aligncenter size-full wp-image-6163" src="https://blog.corelogic.com.au/wp-content/uploads/2015/12/Pulse-CASalesChart.gif" alt="Canberra Cityscope Quarterly Sales graph" width="532" height="321">
Significant leasing opportunities in Canberra in December 2015 include:
<ul>
<li>40 Cameron Avenue, Belconnen, a 5 storey A-grade office building with parking for 221 vehicles; has office space of 500 to 9,470 sqm through Knight Frank and JLL Canberra.</li>
<li>33 Allara Street, City, an 8 storey, 9,900 sqm commercial building with retail on the ground floor and basement parking for 131 vehicles; has office space of 650 to 9,215 sqm for lease through Knight Frank and Colliers International.</li>
<li>14 Moore Street, City, a 14 storey, 11,100 sqm B-grade office building with basement parking for 79 cars; has office space of 6,060 sqm through Colliers International and Raine &amp; Horne Commercial Canberra.</li>
</ul>
 
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Canberra property sales decrease in three months: CoreLogic RP Data Cityscope

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<div>
<div>The retired politician Joe Hockey has reportedly listed his house in the nation’s capital after becoming Australia’s new ambassador to the United States.</div>
</div>
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The three-bedroom home in the prestigious inner suburb of Forrest was bought by the former Treasurer and his wife Melissa Babbage back in March 1997 for just $320,000. It had sold at $375,000 in 1996.
Reportedly the home could sell for easily more than $1 million, according to the Australian Financial Review, although two years ago the Daily Telegraph suggested it was worth $1.5 million, given Forrest is one of the most expensive suburbs in Canberra. The realestate.com.au website price estimate suggests $1.7 million plus.
The unimproved value of Hockey’s property was $1,207,000 as of 2015-2016, according to Allhomes, based on a 1350-square-metre block.
The 1930s property features nine-foot ceilings on Furneaux Street. The property was reportedly due for auction this weekend through LJH Civic, according to the Rear Window column of the Australian Financial Review, but does not appear on any online websites. It has actually been listed for <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/25-furneaux-street-forrest-canberra/1317187186511" target="_blank">April 9 auction</a>.
<a href="https://www.domain.com.au/25-furneaux-street-forrest-act-2603-10319234" target="_blank">It was however also listed for rent</a> recently at $990 a week, down from the initially desired $1100 when it was listed in January. It was marketed as an "original executive home."
In his biography Not Your Average Joe, a former Liberal MP Ross Cameron boasts that Mr Hockey struck a golden deal, spotting the house when driving in Canberra.
Biographer Madonna King writes that the seller wanted “no part in lawyers or agents."
“So Joe, the lawyer, called his father, the real estate agent, who took the owner out for a beer,’’ Ms King writes.
<div id="unruly-publisher-marker__inArticle">“The Hockey’s scored the house for land value. Joe’s father didn’t mention he was a real estate agent, buying the property on behalf of his lawyer son.’’</div>
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<div>Joe Hockey was listed on the purchase documents as owning five per cent, his wife Melissa Babbage 61 per cent and his father Richard Hockey 34 per cent.</div>
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A group of Liberal MPs including Ross Cameron, Bob Baldwin and Brendan Nelson moved and paid rent to stay at the property. 
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Former Treasurer Joe Hockey lists redundant Canberra home

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The February Canberra Office briefing from Savills has noted the local market will continue to grow, albeit slowly, due to the recent completion of 'A grade' buildings in Forrest and Gunghalin.
As a result, according to the report, the recent speculative development cycle has closed with future office supply reduced significantly compared to previous years.
"Less than 10,000 square metres of new and refurbished space is currently under construction and/or due for completion by the end of 2016, with no further development in the immediate pipeline," the report notes, adding there is a significant level of ‘mooted’ supply overhanging the market but dependent on leasing pre-commitment. 
"Rents for new and near-new ‘A Grade' stock have been maintained at a stable level, although there has been a threat to Face Rent levels in the older ‘A’ Grade properties, and an associated volatility in the level of incentives on offer for this class of property.
"Rents for secondary grade stock are forecast to continue to be under pressure during 2016, with upward pressure on the level of incentives required to secure tenants for this class of property."
For more information, <a href="https://pdf.savills.asia/asia-pacific-research/australian-research/australia-office-/savillsresearch-briefing-canberra-office-q4-2015.pdf" target="_blank">click here</a>.
 
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Canberra office market will grow, albeit slowly: Savills

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Over the three months to September 2015, 10.2 per cent of Canberra homes re-sold at a loss compared to 10.9% over the previous quarter and 11.4 per cent a year earlier, according to CoreLogic RP Data's latest Pain &amp; Gain report.
The typical loss was $20,000. It is tipped that most declines were apartments.
The latest data showed prices in the national capital up 2.8 per cent in January pushing it to 6 per cent annual growth. It has a $585,000 median dwelling value.
Tim Lawless, CoreLogic RP Data’s head of research, said in December that the Canberra housing market had been showing tentative signs of growing values, adsding that market conditions have been more volatile from month to month.
The nation’s capital has significant differences in predicted value performance of Canberra’s houses and units.
While houses were up 4.5% over 2015 apartments fell 0.8%.
<a href="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.41.18%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.41.18%20AM.png" alt="" width="664" height="190">
Catherine Smith, practice manager of Canberra property investment advisory firm Wholistic Financial Solutions, warns that the city could be “fast heading towards an oversupply of units”.
Among the many apartment blocks under construction is the Wayfarer at Belconnen, which at 88 metres will be Canberra’s tallest residential tower when completed by year's end. 
"If development continues at this rate I wouldn't be surprised to see Canberra listed as the most oversupplied state or territory in Australia," Smith told the mywealth website. 
CoreLogic RP Data reported the city’s gross unit rental yield was 5.2% – equal to Hobart and Darwin and second only to Brisbane.
Construction is due to commence this year on what will be the largest-scale public transport infrastructure project Canberra has ever seen – the $783m Capital Metro.
Starting from Gungahlin in the city’s north, the 12km light rail track will run south along Flemington Road, Federal Highway and Northbourne Avenue to Civic (city centre) and possibly onwards to Russell (as part of a proposed future extension), with stops at the suburbs of Harrison, Franklin, Downer and Braddon and major stations proposed for Gungahlin, Dickson and Alinga Street.
Example of small losses being taken recently include a three bedroom in Lyneham which went from $604,900 to $585,000 in five years and a two bedroom in Braddon which dropped from $540,000 to $500,000 in just nine months.
A property in Kingston traded for $740,000 in 2013 and sold for the same price last year.
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10% of Canberra dwellings selling at a loss: CoreLogic Pain & Gain

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Canberra apartments have joined the other capitals, Brisbane and Melbourne at a market peak, according to the latest HTW property clock.
The valuation firm Herron Todd White has issued its latest property clock for apartments - a simple broad brush means to suggest where property markets are as at February 2016 - and what direction prices are moving in.
The valuation firm has included capital and select regional cities on the property clock for apartments price direction.
The Canberra residential unit market presents its own unique concerns, according to HTW.
The threat of oversaturation is a very real one and continues to be observed in several market segments including the Flemington Road corridor in Gungahlin and the Belconnen Town Centre. 
HTW anticipate 2016 will be a year of flat growth with demand shifting further away from the unit market in most segments and towards new detached houses.
<a href="/images/2016/02/08/700_HTW_units.jpg" target="_blank">Click here</a> to enlarge.
For more information, <a href="https://www.htw.com.au/" target="_blank">click here</a>.
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