<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

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

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

Canberra

<html><body>
EG, the real estate fund manager, has settled on another Canberra asset for their High Income Sustainable Office Trust (HISOT).
It cost $15.6 million for the property set a kilometre from Parliament House, on a prominent corner site in Barton, ACT. 
The 4,054 square metre building has a current NABERS rating of 3.0 with a vacancy rate of 38%. 
The Australian Medical Association will be remaining on site as the primary tenant.  
“EG will deliver a repositioned, sustainable building in the heart of Canberra’s most attractive office markets,” said Michael Noblet Associate Director, Capital Transactions.
“We are targeting to improve the NABERS rating to 4.5 stars or higher through operational improvements and an active capital works program.” 
EG has already planned to align themselves with technology partners to improve energy efficiencies in the building, in line with the HISOT mandate. 
Key investors in the fund include Uniting Financial Services and the Clean Energy Finance Corporation.  
CEFC Investment Funds Lead Rory Lonergan said through upgrading the 30-year-old building, EG will demonstrate how underperformers can be reinvigorated to provide dynamic workspaces that are valued by tenants because they are equipped to handle the demands of a clean energy economy.
The vendor was the Australian Medical Association and the sale was brokered by Tim Mutton of Colliers International.  
Earlier this year, EG settled on the $15.4 million East Block asset in Canberra’s Parliamentary Triangle, which was the first asset in the HISOT fund. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

EG settles on $15.6 million Canberra property

<html><body>
A buoyant Canberra housing market is leading to healthy long-term investment options for savvy home buyers, according to RiskWise Property Research.
While the Sydney market goes flat, many Sydney-based investors and buyers’ agents are looking to Canberra as a solid long-term property market that delivers both capital growth and solid rental return.
Less than 300 kilometres south-west of Sydney, Canberra has enjoyed solid capital growth of 23% over the past five years and 10% in the past 12 months.
<a id="LPlnk756628" href="http://www.riskwiseproperty.com.au/" target="_blank">RiskWise Property Research</a> CEO Doron Peleg believes it is a trend which is set to continue, particularly for houses.
"This will be driven by ongoing population growth due to the strength of the local labour market and its growing status as a city of choice for a growing number of Australians,” Peleg said.
"Canberra is a rapidly expanding city with a stable property market that offers relatively affordable housing (in house-to-income terms). In addition, ongoing infrastructure projects, such as the Canberra Light Rail Network, will bring significant benefits to the area.”
RiskWise assessed the risks and opportunities in the ACT property market to help investors and professionals better understand it.
Peleg said while housing in the ACT was enjoying healthy capital growth, the same could not be said for off-the-plan units which carried a higher degree of risk in the short-term.
However, he said, the impact of the additional supply was likely to be reduced in the medium and long-term which showed capital growth of 4% in the past five years and 5% in the past 12 months.
Detailed report on the property market for both houses and units:
Canberra Property Market Under the Microscope - Strong labour market and population growth the major growth drivers
<ul>
<li>Employment</li>
</ul>
The ACT has a strong labour market. The unemployment rate of 3.9% is low - even below the NSW average. This is unsurprising given the strength of its labour market and that the Federal Government is a major direct and indirect employer. This is also supported by the relatively low underemployment and the low effective unemployment rate across the ACT.
<ul>
<li>Population growth</li>
</ul>
The ACT enjoys consistently strong population growth, particularly over the past six years. It also recorded a population growth rate of 1.7%, the second highest rate growth across the country according the latest ABS data. The attractiveness of the local labour market has been a key driver force behind this population increase and this growth trajectory is likely to continue.
<ul>
<li>Capital growth – houses v units</li>
</ul>
While both houses and units enjoy good demand, the demand for houses is very strong and houses enjoy, consistently solid capital growth of 23% in the past 5 years and 10% in the past 12 months. That has significantly exceeded the capital growth of units that delivered 4% in the past 5 years and 5% in the past 12 months.
<ul>
<li>Median rental return</li>
</ul>
The rental return for houses and units are 4.2% and 5.1%, respectively - these rates of returns are significantly higher than the rental return in Sydney.
<ul>
<li>Units in the pipeline – short term risk</li>
</ul>
The number of units in the pipeline for the next 24 months is 5290, being an addition of 8.1% to the current stock.
Investors who purchase off-the-plan properties are exposed to risk of poor capital growth and lower rental returns than expected in the short to medium-term as the area adjusts to the additional supply level. However, general high demand for units across the area is likely to reduce the impact of the supply increase in the medium and long-term. This is primarily driven by the strong labour market and population growth in the ACT.
In conclusion, the ACT delivered strong property price growth over the past few years and is likely to deliver strong growth, particularly for houses.
This will be driven by ongoing population growth due to the strength of the local labour market and its growing status as a city of choice for a growing number of Australians. While off-the-plan units carry a higher degree of risk in the short term, the impact of the additional supply is likely to be reduced in the medium and long term.
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney's flattening pushes investors to Canberra: RiskWise

<html><body>
Is there a case for revisiting the idea of new cities for Australia in the light of recent population projections and resurgent debate about the implications of a big Australia?
By big we’re talking in the order of <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3222.0Main%20Features62012%20(base)%20to%202101?opendocument&amp;tabname=Summary&amp;prodno=3222.0&amp;issue=2012%20(base)%20to%202101&amp;num=&amp;view" target="_blank">another 12 million people by mid-century</a>. That’s said to be <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2018-03-12/australia-is-struggling-to-handle-its-swelling-population/9535116" target="_blank">equivalent to adding a Canberra every year</a> for the next 30 years. But, on business-as-usual projections, three-quarters of that growth will be accommodated in our four biggest cities: Sydney, Melbourne, Brisbane and Perth. <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/3222.0main+features72012%20(base)%20to%202101" target="_blank">According to the Australian Bureau of Statistics</a>, this could mean a Sydney of almost 9 million people and Melbourne of almost 10 million by just after 2050.
The last time the nation seriously confronted the reality of sustained and accelerated population growth was in the early 1970s. And there was a mood to do something decisive. In 1972 an Australian Institute of Urban Studies task force emphatically <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/work/9420956?selectedversion=NBD1633419" target="_blank">recommended</a>:
efficient and humane alternatives to overconcentrated growth … A massive new-cities program needs to be started NOW.
Benjamen Gussen’s proposal for a ‘charter city’ in the Pilbara stimulated this imaginary depiction (above). Justin Bolleter.
The Whitlam government obliged with a <a href="http://www.johncainfoundation.com.au/wp-content/uploads/2015/11/lyndsay-neilson-presentation.pdf" target="_blank">national growth centre program</a>. Undertaken jointly with the states, this produced some positive outcomes. These included an expanded Albury-Wodonga and systematic longer-term planning for Campbelltown in southwest Sydney and eventually Joondalup in northwest Perth. Admittedly there were some duds, such as the tri-city <a href="https://www.propertyobserver.com.au/https://www.smh.com.au/articles/2002/11/29/1038386312281" target="_blank">Bathurst-Vittoria-Orange</a> and Monarto outside Adelaide, now a free-range zoo.
Funding and enthusiasm trailed off. This more or less reflected trends globally, certainly in the UK, <a href="https://www.theguardian.com/society/2002/may/15/communities.guardiansocietysupplement" target="_blank">heartland of new town thinking</a>, where the Commission for New Towns was abolished by 1998.
But <a href="http://www.newtowninstitute.org/spip.php?article420">Paris carried on</a> and even the private sector in the US developed new communities, <a href="http://www.baltimoresun.com/news/maryland/howard/howard-magazine/ph-mg-ho-columbia-planned-cities-20170606-story" target="_blank">bringing innovation to the design process</a>. Other nations with high population growth, such as <a href="https://www.forbes.com/sites/wadeshepard/2017/12/12/why-hundreds-of-completely-new-cities-are-being-built-around-the-world/#4ad64fc514bf" target="_blank">China, maintained engagement</a>. Now even <a href="https://www.nic.org.uk/news/adonis-new-infrastructure-can-bring-first-new-towns-half-century-billions-national-economy/" target="_blank">Britain is returning</a> to <a href="http://researchbriefings.files.parliament.uk/documents/SN06867/SN06867.pdf" target="_blank">new-look garden cities as models of sustainable growth</a>.
<h2>So what’s going on in Australia?</h2>
If Australia had a fair dinkum national urban and population policy, then future patterns of national settlement would be firmly in its sights. But we don’t, and those <a href="https://theconversation.com/hopes-of-a-new-urban-age-survive-ministers-fall-52975" target="_blank">hopes of a new era</a> under Prime Minister Malcolm Turnbull just haven’t ignited. Instead, we mostly have a scattershot of initiatives, incentives and deals on offer within an overall economistic rhetoric of smartness and value capture.
Infrastructure Australia’s recent report, <a href="http://infrastructureaustralia.gov.au/policy-publications/publications/files/future-cities/Future-Cities-Summary-Report-2018.pdf" target="_blank">Future Cities: Planning for our growing population</a>, is not much help. It concentrates on the largest cities only, and reiterates the conventional wisdom of their evolution towards higher-quality, higher-density cities.
It is worth asking why existing – and presumed inevitable – patterns of growth are the equivalent of a new city, but new urban places are not tabled as viable options.
<a href="https://images.theconversation.com/files/210047/original/file-20180313-30983-q1df03.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/210047/original/file-20180313-30983-q1df03.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Australia created a new city for its capital and annual population growth is now being equated to ‘new Canberras’, so why not consider more new cities? <a class="source" href="https://www.shutterstock.com/image-photo/aerial-view-canberra-city-center-1040423728?src=iwImnPPAC2OgKnPtvdHwYg-1-18" target="_blank">Yicai/Shutterstock</a>
There is nothing approaching a coherent vision of national urban system planning. This scale of thinking has largely dropped out of the policy realm. The rise of design-driven planning has brought many benefits in balancing public and private interest, but these are usually played out at the local scale.
Metropolitan planning strategies display more comprehensive thinking but are jurisdictionally constrained. They also inevitably converge on the same suite of aspirations – growth management, housing supply and affordability, employment, density, mixed-use activity centres and transit-oriented development. And, as we see in Melbourne, the progressive liberalisation of urban growth boundaries to allow greater expansion <a href="https://theconversation.com/australian-cities-and-their-metropolitan-plans-still-seem-to-be-parallel-universes-87603" target="_blank">misses opportunities for more radical rethinks</a>.
<a href="https://theconversation.com/all-the-signs-point-to-our-big-cities-need-for-democratic-metro-scale-governance-92417" target="_blank">Metropolitan governance is the order of the day</a>, without doubt, but what spatial framework does that sit in? The <a href="https://www.greater.sydney/" target="_blank">Greater Sydney Commission</a> is proving its worth in this direction and organising local authorities into a co-ordinated assemblage. But its strategy has almost nothing to say about the rest of the state.
There is no spatial state plan. Wollongong, Newcastle, the Central Coast (contributing over 200,000 daily return commuter trips into Sydney) and regional areas lie out of view.
Where state planning strategies do exist (such as Western Australia) these tend to be toothless and lacking in vision.
Since mid-2017 some bigger-picture thinking has surfaced in submissions and presentations to the House Standing Committee on Infrastructure, Transport and Cities, which is conducting a timely <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/ITC/DevelopmentofCities" target="_blank">inquiry into the Australian government’s role in city development</a>. The message is that there are no quick fixes, single solutions or optimum city sizes. There is also an awareness that the path dependency of growth in metropolitan areas will ensure their continuing primacy.
The <a href="https://www.economicshelp.org/blog/glossary/agglomeration-economies/" target="_blank">agglomeration economies</a> favouring non-metropolitan locations are admitedly weaker but a strengthening narrative relates to the links between 21st-century transportation and settlement. <a href="https://theconversation.com/high-speed-rail-at-200-billion-wed-better-get-it-right-62541" target="_blank">High-speed rail</a> is not just an inter-city technological marvel but – done well to an integrated spatial plan – becomes a nation-building instrument for expanding key regional centres.
Think longer term, think big
Long-term thinking compels bigger vision. The 2013 book <a href="http://www.publish.csiro.au/book/7215/" target="_blank">Made in Australia</a> by Richard Weller and Julian Bolleter attempts this, by daring to imagine a future beyond the conventional wisdom of low-density spread and urban consolidation. Guided by ABS national population projections – <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3222.0Main%20Features52012%20(base)%20to%202101?opendocument&amp;tabname=Summary&amp;prodno=3222.0&amp;issue=2012%20(base)%20to%202101&amp;num=&amp;view" target="_blank">70 million by 2101</a> – its sights are firmly <a href="https://www.propertyobserver.com.au/https://www.parksleisure.com.au/documents/item/2693" target="_blank">set on a whole new conception of megaregions and new cities</a>. Northern Australia, in particular, comes into view as a new urban frontier.
There are various scenarios to explore within a new city paradigm:
<ul>
<li>the polycentric city (think: Hunter to the Illawarra in NSW)</li>
<li>integrated planning for regional centres and expanded towns (a more targeted <a href="http://regional.gov.au/regional/programs/regional-growth-fund.aspx" target="_blank">Regional Growth Fund</a>)</li>
<li>regional satellites (network city regions focused on metropolitan cores)</li>
<li>upscaled master plan communities set within a regional vision (<a href="https://www.greaterspringfield.com.au/" target="_blank">Springfield</a>)</li>
<li>“new cities in cities” (<a href="https://theconversation.com/flying-into-uncertainty-western-sydneys-aerotropolis-poses-more-questions-than-answers-73682" target="_blank">Western Sydney aerotropolis</a>).</li>
</ul>
The contemporary new city idea cannot be a tired rerun of town and country planning policies from the past. These elevated post-war welfare-state British new towns as the benchmark and ignored their many shortcomings as urban environments.
The population tap is unlikely to be turned off even if politically leveraged downward. Humanitarian migration is also likely to grow. This means we need to have a debate that is not just about population size but also about its distribution.
<img src="https://counter.theconversation.com/content/92990/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Australia is a post-colonial country built largely through relatively new, planned cities. We have a capital city famously built from scratch. Australians should be able to engage with a more nuanced evaluation of the role of new cities in delivering the desired triple bottom line of urban productivity, liveability and sustainability.
<a href="https://theconversation.com/profiles/robert-freestone-168551" target="_blank">Robert Freestone</a>, Professor of Planning, Faculty of Built Environment, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>; <a href="https://theconversation.com/profiles/elizabeth-taylor-97922" target="_blank">Elizabeth Taylor</a>, Vice Chancellor's Post-Doctoral Research Fellow, <a href="http://theconversation.com/institutions/rmit-university-1063" target="_blank">RMIT University</a>, and <a href="https://theconversation.com/profiles/julian-bolleter-292111" target="_blank">Julian Bolleter</a>, Research Fellow, Australian Urban Design Research Centre, <a href="http://theconversation.com/institutions/university-of-western-australia-1067" target="_blank">University of Western Australia</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/new-cities-its-an-idea-worth-thinking-about-for-australia-92990" target="_blank">original article</a>.
</body></html>

Should Australia be thinking about a new city?

<html><body>
The Canberra office market has been historically characterised as having one of the strongest supply pipelines nationally.
Over the past few years it has delivered high levels of stock, against a background of strong net absorption.
In the 12 months to December 2017, Savills Research identified approximately $571.7 million worth of office transactions (greater than $5 million) in the Canberra office market.
However, as a result of falling leasing demand from the Commonwealth leading up to, and following from, the election of the Coalition to Government in 2013, the speculative development phase that had been experienced in Canberra ended in 2015-2016, Savills said.
Over 2015/2016, developers were largely reluctant to build speculatively, following weaker economic conditions and moderating leasing demand driven by cost cutting measures initiated by Commonwealth tenants.
But following two years of negative net supply, 2017 saw new additions amounting to 51,364 square metres. Improving market conditions and a strengthening economy are providing the impetus for an increase in developments.
According to the latest research report from Savills Australia, the commencement of two new speculative developments in the CBD will add approximately 35,000 square metres of new accommodation in the 2019/20 period.
A further 20,000 square metres of space in the CBD and 15,000 square metres in Dickson have been pre-committed by the ACT Government and are due to be completed over the same period.
Anecdotal evidence from current leasing campaigns on these developments suggest a significant upward revision of rents.
Andrew Stewart, managing director of Savills ACT said this level of activity is well beyond the 10 year average of $416 million and can be traced to a single transaction; the sale of 50 Marcus Clarke Street, City. 
“The asset was sold for $321 million to South Korean asset management firm, Mirae Asset Global Investments at an equated yield of 5.75% by Malaysian vendor CIMB Trust &amp; Malaysian Employees Provident Fund. It is important to note that traditionally, these larger assets are tightly held with only four trading in the past five years," said Stewart.
“Demand for Canberra assets are being driven by domestic and foreign investors focused on secure income streams and long Weighted Average Lease Expiry’s (WALEs) owing to the majority of office space being leased by Government tenants.” 
Stewart said that large funds and trusts that rely on both income growth as well as capital growth are certainly attracted to the Canberra market. 
“We are also seeing a trend towards more privatisation which has led to a greater diversity in tenant base as more consulting firms relocate to Canberra for jobs that are being outsourced by the Federal government off the back of cost cutting measures implemented by the Liberal government.”
There was a notable increase in local institutional funds and private investors purchasing office assets in Canberra.
One noteworthy transaction was the sale of 44 Sydney, Forrest in November 2017 for $64.70 million on an equivalent yield of 6.24%, purchased by Australian based fund manager Charter Hall.
Anecdotal evidence is suggestive of increasing demand for new or new-near buildings with long-WALE’s, with current owners of such properties reluctant to divest themselves of their properties.
According to Shrabastee Mallik, Senior Analyst - Capital Strategy at Savills Australia, market yields in Canberra Civic, as at December 2017, are estimated to range between 5.50% and 7.25% for A grade, and between 7.50% and 10.50% for B grade buildings.
“The average yield for A grade office buildings in the quarter to December 2017 is 6.40%, representing a 35 basis point firming over the year.
“Capital values in the Civic precinct in Canberra, as at December 2017, are estimated to range from $5,265 per square metre to $8,350 per square metre for A grade buildings, and between $3,500 per square metre and $5,400 per square metre for B grade buildings” she said.
Ms Mallik believes that fewer projected public service job cuts and a more relaxed budget looks likely to lead to a resurgence in office leasing demand and an increase in developments.
“Rents for new and near-new ‘A’ Grade stock have been maintained at a stable level, with a small level of face rent growth at the top end of the market” she said. 
Pip Doogan, Director of Office Leasing at Savills ACT said the level of incentives on offer for this class of property have stabilised, and are trending down gradually in those areas with low vacancy rates, which should result in a rise in effective gross rents in this market sector.  
“Net face rents in the Canberra Civic precinct range from $340 to $400 per square metre per annum for A Grade and from $290 to $325 per square metre per annum for B Grade, as of Dec 2017”.
 
 <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/2018/3/14/canberra%202.jpg" alt="">
 
 
 
</body></html>

Investors looking to Canberra office market for long-WALE's: Savills

<html><body>
Many homes nowadays have a cinema room, but fresh on the market is an award-winning Canberra home complete with a fully fledged theatre.
It has been the passion of Steven Gerakedis.
The <a href="https://www.realestate.com.au/property-house-act-reid-127739702" target="_blank">art deco Reid home </a> with classic cottage facade reflects 1920s heritage, all the way down to the sub-ground cinema. 
Bring the popcorn! The theatre has tiered leather recliner seating, a curved wide screen projector, dedicated projector room and a separate lounge area for pre and post-movie socializing.
The walls are filled with classic movie posters.
The home set in Dirrawan Gardens on 1,300 square metres was awarded the Master Builders Association House of the Year.
"You have to see it to believe it," the judges noted.
It has three bedrooms, three bathrooms, a glass reception gallery and a climate-controlled cellar.
Peter Blackshaw Manuka agents Alec Brown and Andrew Chamberlain are marketing the home until March 28.
This article first appeared in The Weekend Australian. 
</body></html>

jchancellor-FAypfDUnLy

The award goes to... Canberra trophy home with full theatre listed

<html><body>
The former Mr Fluffy, ACT asbestos land blocks that went under the hammer last Thursday in the first mass auction of the year, mostly failed to sell.
Allhomes reported at least 100 people attended the auction of the blocks remediated by the ACT government.
The auction came two days after a Canberra family revealed they'd uncovered bricks that tested positive for loose-fill asbestos on a $1.6 million block they'd bought at auction last year which has since had delayed work costs.
The first 21 blocks auctioned off saw more than 80% passed in, The Canberra Times reported.
Properties included a 2099 square metre block in Arthur Circle, Forrest which was passed in at $2.2 million.
Colliers International auctioneer Dan McAlpine read disclaimers that preceded the auction including a clause that stated: "By participating in the auction, registrants warrant that they have made their own inquiries regarding the land, its value and its suitability for development and have not bid on reliance on the material included in the auction documentation."
But there was no mention of the risk of residual contamination.
Suburban Land ACT auctions hosted by Colliers International are scheduled for March, April and May, which will see about 200 parcels of land offered.
</body></html>

Canberra auction clearance rate down as Mr Fluffy blocks still possibly contaminated 

<html><body>
The National Capital Authority is seeking expressions of interest for the sale of The Lobby restaurant.
The Canberra landmark has been closed for more than a year.
The authority said it would ensure that its heritage values are protected after the sale, NCA chief planner Andrew Smith said.
"Once sold, the NCA and the Commonwealth will remain committed to protecting and preserving the heritage values of The Lobby as well as the Commonwealth Heritage listed landscape which it forms part of," the authority's chief planner, Andrew Smith, said in a statement.
<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/2018/2/21/lobby2.jpg" alt="">
Development of The Lobby would need parliamentary approval.
Smith expects that The Lobby be a hospitality venue, remaining as a restaurant or possibly becoming a bar or cafe.
The restaurant opened in 1968, mostly for politicians who wanted somewhere to dine near Old Parliament House.
The tender process is through Civium Property Group until March 15.
</body></html>

The Lobby, Canberra for sale

<html><body>
EG, one of Australia’s leading real estate fund managers, has acquired the first asset for the High Income Sustainable Office Trust (HISOT). 
The East Block asset is a strategically located heritage asset in the Parliamentary Triangle, Canberra. 
EG will improve the energy efficiency of the building by leveraging technological advances and active asset management under the HISOT mandate. It will form a key part of the future revitalisation of the Canberra precinct.
“EG are pleased to see the compelling sustainable investment fund launch with a strongly placed asset that will benefit from the uplift in energy savings and active asset management strategy,” say EG's Aurelio di Napoli.
The property has a net lettable area of approximately 4,958 sqm and has an eight year WALE following the completion of Lessor works. The current tenant is the National Archives of Australia.
EG’s HISOT fund had its first close in 2016. The fund mandate is to target assets that will benefit from raising the NABERS rating. It is underpinned by a strong ethical and environmental commitment by the unit holders that will reduce the overall impact of a building while driving a significant increase in the asset value.
The Clean Energy Finance Corporation was a cornerstone equity investor in HISOT.
 CEFC Investment Funds Lead Rory Lonergan said the CEFC is delighted to see their investment in HISOT contributing to energy efficiency improvements in this iconic precinct.
"This is another demonstration of the flexibility and suitability of clean energy across our built environment.
"It’s absolutely vital that new buildings are built to the highest energy standards as we move to zero carbon emissions.
"It’s equally important that we make these improvements to existing buildings, extending their life as well as ensuring they benefit from latest technologies which reduce energy costs and lower their carbon footprint.
“Through our investment in the HISOT, the CEFC is keen to see the development and refurbishment of older buildings. 
"Energy efficient buildings have lower operating costs and have the potential to provide higher net operating income with lower vacancy rates, providing clear benefits to building owners, investors and tenants.”
The vendor was Commonwealth of Australia and the deal was brokered by Tony Massaro and the PwC Real Estate Advisory Team in Sydney.
 
</body></html>

jrobinson-rf4aSBido9

EG pays $15.4 million for central Canberra office asset

<html><body>
More than 100 registered bidders attended an auction event in Canberra last week.
There were 29 properties for auction with 22 selling under the hammer, reflecting a 76% clearance rate.
Out of the offering only one came without a registered bidder.
Five of the homes had more than seven registered bidders after more than 1000 inspections of the auctioned Ray White homes were undertaken.
Prices ranged from $430,000 to $1,452,500 including 15 Hakea Crescent, O’Connor (pictured above) with the four-bedroom 2009 home the highest result.
The $430,000 sale was a 150 sqm three bedroom Narrabundah apartment that had previously sold in 2003 at $285,000.
It was sold as a $420 a week rental until September. It had been initially listed with $475,000 hopes last year.
</body></html>

Canberra auctions off to a flier

<html><body>
House prices growth in Canberra is expected to top other capital cities between now and 2020, according to property expert John McGrath’s recent article in Switzer.
This growth will be drive by a 16% rise in population growth, continuing high incomes and a shortage of detached housing stock, said McGrath, citing data from economic forecaster BIS Oxford Economics.
Canberra also recorded its highest Winter auction clearance rate since 2009 and the fourth highest clearance on record at 69.2%, according to Domain.  
It was the best performing capital last weekend.
However, the capital’s two-tier marketplace: a rise in detached home prices and stagnation in apartment prices, is highlighted by the recent McGrath Report 2018 which says the national oversupply of apartments will see Canberra become one of only two capital cities with any apartment price growth by 2020.
<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/2017/12/15/capitals.jpg" alt="">
Median house prices in Canberra grew a solid 6.6% to $650,000 over the year to June 2017, according to CoreLogic, meanwhile apartment price growth was sluggish at just 2.9% to a median $442,500.  
 “Restricted house stock is attributable to a decline in new construction and the ongoing impact of more than 1,000 asbestos affected ‘Mr Fluffy’ blocks being removed from the market under compulsory acquisition by the ACT Government in 2014,” says McGrath in Switzer.
So far, only 400 remediated blocks have been released back into the market.
“Lack of stock is also contributing to a projected pick up in the renovations sector after a contraction of 6.1% in FY17. A lack of choice in the marketplace is driving some home buyers to stay put and renovate instead, with the Housing Industry Association forecasting renovations activity to increase by 5.1% during 2017-18.”   
Apartments and other non-detached housing make up 80% of dwelling approvals in Canberra, according to the HIA, while real estate firm JLL estimates a pipeline of 7,000 new apartments for the city by 2021.  
The apartment market is already in oversupply but a low vacancy rate of 1.7%, coupled with strong yields, is keeping apartment prices in slightly positive growth territory, he adds. 
Canberra’s median rent of $420 per week and median yield of 4.9% is expected to continue rising in the short term due to population growth, low numbers of first home buyers and an underlying shortage of rental accommodation.  
Population grew 11% in the ACT between 2011-2016, the largest of all states and territories and equivalent to more than 40,000 new residents, according to the Australian Bureau of Statistics (ABS).
 The ACT government expects further strong population growth of 6% in Canberra by 2020. About 60% of this growth will be driven by natural increase (births minus deaths) and around 40% through net overseas and interstate migration.    This growth is being supported by major new public projects like the $700 million citywide light rail network, with the first stage connecting the CBD and Gungahlin next year; and a revitalisation of the city precinct.
A big ticket housing project for 2017-18 will be the replacement of the Red Hill public housing units in the prized inner south. The new residential development will include 108 single dwelling sites, four multi-unit sites and six green spaces. Another 92 townhouses and apartments are planned for three blocks in Holder, Chapman and Wright.  
 With its selection of art galleries and vibrant restaurant scene, Canberra is shedding its stuffy reputation and becoming an attractive lifestyle and cultural destination, says McGrath, predicting better times ahead for the capital city.
 
</body></html>

Canberra

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Canberra

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News