<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;

[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

Data

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The Westpac Melbourne Institute House Price Expectations Index has recorded fragmented confidence around housing, according to Westpac chief economist Bill Evans.
The “whether now is good time to buy a dwelling” index increased by 2.3%, despite remaining 12.4% below its level one year ago and 18.5% below its level two years ago.
“The change in the index over the last year has varied markedly across states. In NSW the index has been steady whereas it has fallen by 27% in Victoria and 17% in Queensland,” said Evans.
Meanwhile, the House Price Expectations Index fell by 11.2% in October, now 12.8% below its level of a year ago.
“We are seeing some caution emerge around the outlook for house prices,” said Evans.
The proportion of those expecting house prices to rise took a sharp drop from 66% to 53.8%.
Overall, the Westpac Melbourne Institute Index of Consumer Sentiment increased by 0.9% to October, at 94.8.
“This is the eighth consecutive month that the index has printed below 100, indicating that pessimists have outnumbered optimists for eight consecutive months. That had followed sixteen months where the index had registered above 100 on all but one occasion,” said Evans.
“The current reading for the index is 1.2% below the average for those eight months indicating that while the index seems to be “stuck” in a pessimistic range there is no sign, at this stage, of ongoing deterioration.”
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jduke-EHk3XBmHkn

Fewer expecting house prices to rise, but more keen to buy: Westpac Melbourne Institute

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The Australian Bureau of Statistics (ABS) released its Lending Finance data this week, and it was a pretty weak reading after a couple of apparently very strong months for commercial lending.
Total new lending fell by 10.3% in August from the previous month with a sharp 16% drop in commercial lending the driver of the result.
Owner occupier housing loans fell by 2% in the month of August on a seasonally adjusted basis, with most states seeing activity fall in the month (although notably not Queensland).
Note that the ABS classifies property investor loans separately from owner occupier loans and thus these come under the commercial lending header in the chart below.
<img src="/images/2014/10/15/1.jpg" alt="">
Year on year total new lending remains 11% higher, which is promising, and the rolling 12 monthly figures about do show that the overall trend has been a good 'un.
However, there is no getting away from the fact that August was a fairly rubbish result for commercial and business lending and quickly quells the enthusiasm of the markets from last month which saw some excitable claims that interest rates will be heading up imminently.
In short: No, they won't be.
Property investor loans
As for those property investor loans, in aggregate, property investor loans were pretty much flat in August on a seasonally adjusted basis.
On a trend basis, investor loans were down in all states, as one might expect. On a rolling 12 monthly basis, however, property investor loans across all of the main states continued to rise, with New South Wales and Victoria marching on to new heights.
New South Wales (read: Sydney) loans are a whopping 42.5% higher year-on-year on a rolling annual basis.
<img src="/images/2014/10/15/2.jpg" alt="">
Just looking at the straight raw monthly property investor loan data, New South Wales and Victoria are the clear standouts with 30% and 28% increases respectively.
Elsewhere activity has been softer, although evidently property investors are becoming more active in Queensland. Property investor activity has been solid in Western Australia and flat in South Australia.
<img src="/images/2014/10/15/3.jpg" alt="">
Macro-pru
Overall, it's not yet quite clear what this means for so-termed macro-prudential regulation to cool the investor market.
Clearly with property investor loans up very strongly over the past year, macro-prudential measures from the regulator (APRA) are very much in play in order to keep the proportion of lending to investors under some kind of check.
The August data taken by itself was far from alarming so there may be no knee-jerk announcements or reactions while the Reserve Bank and APRA await another month or two of data.
It's impossible to second guess these volatile data sets or indeed the actions of the regulator, although one generally gets the sense that dramatic macro-prudential measures are not really a preferred option.
Wayne Byres of APRA made the point the other day that although "people love the term" there is "nothing really new" about macro-prudential measures, which sort of implied moderation (to me at least).
I do just note in passing that AFG's more timely data for September showed record transactional activity for New South Wales as well as 49.7% investor loans.
<img src="/images/2014/10/15/4.jpg" alt="">
The Sydney property market marches on to new heights, and unlike in the previous boom cycle of a decade ago higher interest rates are not anywhere to be seen on the horizon in order to slow the market down (and vacancy rates remain much lower today too) - this cyclical boom will have to die of all age and of its own accord or be slowed by regulation.
 
 
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pwargent-M4siyDbqQY

Sydney's property market reaches new heights

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First home buyer data continues to be understated.
A point which has been much discussed over the past year: the non-sensical figures being reported as "fact" for levels of first home buyer activity.
Even until relatively recently the Reserve Bank (RBA) was producing stats for first homebuyers which suggested that numbers were abnormally low after a spike caused by home buyer grants.
<img src="/images/2014/10/13/graph1.png" alt="">
Some time ago, however, the Reserve gave up on reporting those figures since it was quite clear to impartial observers that with the withdrawal of first home buyer grants, a significant proportion of first time buyers were not being recorded as such.
For example in this month's Chart Pack, the RBA only reports the following, which is a strong and rising market. With no credible first home buyer data available, it is no longer reported:
<img src="/images/2014/10/13/graph2.gif" alt="">
What gives?
Unfortunately, despite this all being well known about for yonks, this has not stopped commentators from continuing to post the Australian Bureau of Statistics (ABS) figures uncritically, as though to imply that all first home buyers have been frozen out of the housing market by greedy investors.
While there has no doubt been a fair element of this happening, and particularly so at the margin and in inner city locations in Sydney and Melbourne, it never really made sense to suggest that first home buyers were casually sitting out of a rising market with disinterest. History suggests that is unlikely.
Had banks been requiring 20% deposits, thenyes, clearly this would have happened. But, unlike in the UK, lenders have generally not been requiring large deposits at all and high Loan to Value Ratio (LVR) loans have remained widely available (and in any case, outside Sydney, property price growth just hasn't been that strong over recent years), and thus unsurprisingly, first home buyers are still buying.
Look at the reported data for Western Australia, for example! A huge segment of the market has been first timers, between a quarter and a fifth of all buyers.
Listening to the data critically and understanding its message - generally, there have robust property markets, particularly in cities like Sydney - would surely lead you to the right conclusion.
Another point, which I touched on here back in March, is that a significant number of first time buyers in Sydney, have been buying investment properties as their first step on the ladder, thereby never being recorded as first-timers at all. Indeed, I have known from my own client base that it's a cast iron fact that the number of first homebuyers is understated... the real question is only "by how much?"
The problem is that we now have no true way of knowing the quantum of the issue, if indeed there is much of an issue on a national basis. Of course, there are always anecdotes about first homebuyers being outbid by "the Chinese" (i.e. anyone of Asian appearance), and investors do compete with first home buyers for properties (it's a market - that's life) but anecdotes also frequently lead to poor conclusions.
This article continues on the next page. Please click below.
 
<hr class="system-pagebreak">
 
ABS confirms under-reporting
Not at all surprisingly, here is what the ABS reported in its Housing Finance release on Friday:
"A preliminary investigation has been conducted to evaluate the robustness of estimates of loans to first home buyers. In collecting this information, lenders are asked to report all loans to first home buyers. Concerns have been raised that under-reporting could occur if some lenders were only able to accurately report on those buyers receiving a first home buyer grant.
"Most data on first home buyers are collected by the Australian Prudential Regulation Authority (APRA). The investigation indicates that some lenders experience difficulty reporting on loans where the buyer is not receiving a first home buyers grant. Estimates of loans to first home buyers are therefore under review and users are advised to exercise caution in referencing this data.
"The ABS is working with APRA to explore options to make it easier for lenders to report correctly in future. In the meantime, the ABS is further investigating the potential for under reporting first home buyer data and the feasibility, if necessary, of estimating the extent of under reporting and adjusting the first home buyers estimates accordingly. The outcomes from the investigation will be published on the ABS website."
No shocks there.
From Shane Oliver, Chief Economist and Head of Financial Strategy at AMP:
<img src="/images/2014/10/13/AMP.jpg" alt="">
Indeed. As a sometime "first-time investor" (and thus, never being recorded as a "first time buyer") himself many years ago, to his credit Shane was always well aware of this issue.
Hot sectors of the market
Over the past year we have bought a lot of properties for clients in Wollstonecraft, Waverton and other Sydney lower north shore suburbs such as Neutral Bay.
The Sydney north shore market has been absolutely flying in 2014, with some properties recording huge gains.
A run-down wreck at 47a King Street, Wollstonecraft sold yesterday for an astonishing $2,230,000, a monster $830,000 over the reserve price. Meanwhile, 2 bedroom unit 14/4 Gillies Street in Wollstonecraft sold for $780,000, implying an uplift in the market of well over 10 percent in a matter of fewer than 6 months. John Howard will be pleased.
People have tried to torture the Sydney data a little lately to show that the market has been relatively soft (generally, it hasn't), but if you look at what has happened to individual properties, particularly in suburbs such as these, price action has been very hot.
Indeed, gains over the past year have been exceptional on the north shore in suburbs such as Milsons Point, Crows Nest and even Hunters Hill and a number if others, as well as in our old favourite inner west suburb, Erskineville, which notched a yet further 25% of capital growth in the past year. Huge returns.
<img src="/images/2014/10/13/graph4.jpg" alt="">
 
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First home buyer figures are still understated

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Across Queensland, a total of 56 suburbs record a rental yield higher than 6%. Of these, 22 record a rental yield above 6.5%, according to RP Data’s latest statistics.
Here are those top yielding suburbs, and their median prices, in alphabetical order.
<a href="/news">Aldershot</a>
6.5%
$189,000
<a href="/news">Clermont</a>
7.4%
$248,000
<a href="/news">Depot Hill</a>
7.1%
$160,000
<a href="/news">Gayndah</a>
7.5%
$224,000
<a href="/news">Granville</a>
6.6%
$207,000
<a href="/news">Healy</a>
7.5%
$420,000
<a href="/news">Helidon</a>
6.9%
$231,000
<a href="/news">Home Hill</a>
6.6%
$170,000
<a href="/news">Kingston</a>
6.8%
$253,000
<a href="/news">Logan Central</a>
6.7%
$257,000
<a href="/news">Manoora</a>
6.5%
$259,000
See over page for Maryborough to Woodridge.
<hr class="system-pagebreak">
<a href="/news">Maryborough</a>
6.6%
$200,000
<a href="/news">Mount Morgan</a>
7.8%
$131,000
<a href="/news">Pioneer</a>
7.0%
$368,000
<a href="/news">Queenton</a>
6.7%
$178,000
<a href="/news">Richmond Hill</a>
6.5%
$205,000
<a href="/news">Rockhampton City</a>
7.1%
$205,000
<a href="/news">Slacks Creek</a>
6.5%
$280,000
<a href="/news">Soldiers Hill</a>
6.8%
$350,000
<a href="/news">Sunset</a>
7.2%
$350,000
<a href="/news">Townview</a>
6.8%
$378,000
<a href="/news">Winston</a>
6.9%
$370,000
<a href="/news">Woodridge</a>
6.6%
$245,000
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Queensland’s 22 highest yielding suburbs: 6.5% plus

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Guest observation
We have a lot of property related data in Australia.
Information is released regularly by the Australia Bureau of Statistics (ABS), the Reserve Bank (RBA), a wide spectrum of state and territory and industry organisations, and private corporations.
There are plenty of stories that could be told based on all that information. But are we being told the right stories?
There is a common belief that statistics can be manipulated to support any argument, even the most outrageous claims. However, data does not lie.
It is the people who tell stories they want to tell regardless of what the numbers are. And this is how statistics get bad reputations.
The deception or, more often than not, just the misinterpretation of information due to plain and simple ignorance about the facts is possible because the audience is mostly clueless about what the data really shows. So, we trust the presenter and his or her good judgement and intentions rather than the numbers provided in support of the argument.
It is an art to ask the right question to extract the correct information from a bunch of numbers. And it appears that our education system has failed miserably to teach us how to do it properly.
Consequently, we are at mercy of news headlines and commentary proclaiming one extreme or another – if it is not the imminent price crash, then it must be a bubble.
But which issues are really at play and which are just imaginary, media fuelled propaganda? That is the question.
To make my point clearer, I am sure you have come across hockey-stick-like charts of Sydney house prices (similar to the one provided below) and commentary implying: "... they have reached extreme levels... are not sustainable... something must be done about it immediately...".
 <img src="/images/2014/10/10/sydney_median_price.png" alt="">
Source: Based on ABS data
Well, in absence of other contextual information, the steep rising line can give the impression of rampant and uncontrolled growth.
The impact of this visualisation on an uninformed observer can be quite dramatic and makes it easy for the commentator to draw quite plausible sounding conclusions that "everything is out of control". But appearances can be deceiving. Have a closer look at the following charts.
<img src="/images/2014/10/10/relative_chane_in_median_prices.png" alt=""> 
Source: Based on ABS data
It is the same data that many commentators are using and comes from the same credible source – the Australian Bureau of Statistics. However, this chart puts the information in the right context – that is, the chart compares price growth in Sydney to other capital cities and over a very long time.
These charts are more useful for describing the current state of affairs than looking at the headline statistic of 14%+ Sydney median price growth and proclaiming it is "a rampant speculation beyond all reasons". That is to say, looking at a single number without considering the broader context is meaningless.
In this broader and relative context, you can clearly see that the recent high price growth has just allowed Sydney to catch up to Brisbane and that Sydney is still behind Melbourne and Perth.
More interestingly, over the last 28 years, Sydney prices have not increased significantly more, in relative terms, than the weighted average of eight capital cities.
That is, in June 2014, growth of Sydney house prices over the 28 year period was higher than the national average by only 6.1%. In comparison, Brisbane house price growth was higher by 6.4%, Melbourne growth was higher by 8.7% and Perth by 17.6%.
So, is the current Sydney property price growth a manifestation of mad and speculative exuberance that everybody seems to easily diagnose? Or is it more likely to be the result of a normal market reaction to a long term underperformance, which should have been expected?
To highlight another aspect of how dangerous it can be to take information on the face value, please consider the above chart in the context of advice given to investors to "forget Sydney" and that "Brisbane is the market everybody should focus on next for growth...".
Of course, it is hard to make forecasts and draw far reaching conclusions based on just one, simple chart. However, this chart points to the likely reason as to why Sydney prices had the opportunity to grow so dramatically and why Brisbane price growth is so sluggish in comparison. That is, Sydney underperformed other large capital cities for quite some time while Brisbane property appears to be fully priced at the moment.
I am the first to stress that the above chart is not perfect and that it is far from providing the full story. In particular, it has been constructed based on an assumption that property prices were reasonably balanced across all capital cities in June 1986.
As shown on the chart below, this is a reasonable assumption. That is, median house prices for capital cities were in a relatively tight range in mid 1980's.
 <img src="/images/2014/10/10/derived_median_house_prices.png" alt="">
Source: Based on ABS data
Things are visibly out of balance at present but let's leave the explanation of the reasons this has happened for another opportunity. The graphs provide enough to say for now that there is a clear divide between larger cities such as Perth, Melbourne, Brisbane and Sydney, and smaller cities like Canberra, Hobart and Adelaide, with Darwin the only exception.
If you are still in disbelief about Sydney property prices not being out of the ordinary and think that one chart doesn't prove anything, here is another perspective to consider – relative to average full time adult incomes, the cost of buying a median priced house in Sydney is still 21% less than in 1986.
<img src="/images/2014/10/10/long_term_purchase_affordability.png" alt="">
Purchase affordability in Sydney is declining and is lower than for Australia as a whole but there is still some room for prices and interest rates to move up before the affordability reaches uncomfortable levels (e.g. like it happened in 2008).
If Sydney property prices were indeed out of control, we would have seen the evidence no matter what statistic was used. This is clearly not the case.
In this article I highlighted only one issue – that is, incorrect interpretation of the growth of Sydney property prices. Just imagine how much more misinformation could be floating around in the media and on discussion forums, and how many prominent commentators may be totally clueless of what is really happening in the property market in Australia.
You cannot stop others from exaggerating facts and exploiting data for whatever purposes or agendas they may have, but you can control how you treat such information. I hope this example will make you think twice about what you read and trust from now on.
For a chance to learn more about what is happening with property prices in your area, post a comment below naming capital city you would like to be featured in a special report later this month.
Arek Drozda is an independent property market analyst.
 
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Lies, damned lies and housing statistics

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Over the September quarter, most of Australia’s capital cities recorded flat or falling rents for units and houses, according to the Domain Group Rental Price Series Quarterly Report.
The September quarter’s national median asking rent for units dropped 0.4%. However, this does bring it up 1.9% over the past 12 months.
A similar trend was seen for houses’ median asking rent, down 0.3% over the quarter and up 0.7% over the year.
Darwin’s house median asking rent over the quarter increased from $645 to $660 per week, bucking the trend.
Perth’s house rent dropped from $460 to $450 per week.
House rents across the other capitals were steady.
Meanwhile, units were more split, falling in Sydney, Perth and Canberra. Hobart, Melbourne, Adelaide and Darwin were all stable.
Brisbane saw a jump from $365 to $370.
Senior economist for Domain Group Andrew Wilson said that Brisbane’s unit rents and Darwin’s house rent were the only positive results.
“Unit rents weakened in Sydney over the September quarter, however, the median asking house rent remained steady at the June quarter’s record level of $510 per week despite record levels of investor activity in the local market. Although, we’ve seen a pause in rental growth over the September quarter, demand will continue to put upward pressure on rents in Sydney,” he said.
“In Sydney, yields are holding, asking rents are still strong and there is currently no signs of overshooting market fundamentals.”
Rental growth in Melbourne for houses and suburban units will also be impacted by demand drivers.
The other capitals are expected to move sideways as a best case scenario.
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Most capital cities’ rents falling or flat: Domain Group

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The Housing Industry Association’s (HIA) latest Portrait of Australian Home Prices notes the number of investors in the market is being overstated by the reliance on home loan data.
Pointing to the Reserve Bank’s Financial Stability Review comments regarding the housing and mortgage market compositions “becoming unbalanced”, the HIA notes that the home loan breakdown points to 52.9% of owner occupiers and 47.1% of investors in the year to July 2014.
However, they say that this may not be painting an accurate picture of the numbers of owner occupier purchases.
“It is important to stress that this breakdown does not account for home purchases made without recourse to lenders,” the report notes.
They also explain that some investors purchasing with cash, and home purchases by those trading down and using their funds are missed out by the home loan radar.
“Consequently, it can be argued that a reliance on home loan data overestimates the proportion of home purchases conducted by investors.”
{mijopolls 50}
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Home loan data overstating investors in the market: HIA

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The Australian Bureau of Statistics (ABS) released building approvals data for August 2014 earlier this month.
At a headline level, dwelling approvals were 3.0% higher over the month and are now 14.5% year on year. With 16,810 approvals over the month there is clearly a strong level of residential development activity with monthly approvals just -5.0% lower than their recent peak.
<img src="/images/2014/10/8/Chart-1.jpg" alt="">
Of the 16,810 dwelling approvals in recorded over the month of August, 9,401 were for houses and the remaining 7,409 were mulit-unit dwellings (typically apartments).
Over the month, house approvals fell by -1.4% while unit approvals rose by 9.2%. Year-on-year, house approvals are 12.6% higher while unit approvals are up 17.1%. 
As the chart above shows, the six month trend indicates a slowing of dwelling approval numbers and it also shows that monthly movements in unit approvals tend to be much more volatile. Also remember that a multi-unit development is more risky than developing a single house and ultimately less likely to ultimately be constructed.
<img src="/images/2014/10/8/Chart-2.jpg" alt="">
Focussing on dwelling approvals on an annual basis we have seen more house and unit approvals than ever before over the 12 months to August 2014. Over the 12 month period there were 197,571 dwelling approvals, of which 111,020 were for houses and 86,552 were units. The annual number of approvals has increased by 19.2% over the past year.
Although approvals have surged, as the chart shows it is largely due to a significant lift in unit approvals. Although the number of unit approvals over the past year was at a record high, house approvals are still -6.8% lower than their previous peak over the year to July 2010 and -21.2% lower than their all-time high of 140,832 over the year to April 1989.
Historically, units have been much less likely to move from approval to construction. Units also tend to be much more likely to be owned by investors than houses. 
With the Reserve Bank flagging that deliberations are ongoing into the introduction of macroprudential policies to slow the level of investor activity in the housing market, there is potentially an even bigger than normal risk that these units won't make it to completion.
<img src="/images/2014/10/8/Chart-3.jpg" alt="">
Across the combined capital cities, there was an all-time high of 147,122 dwellings approved for construction over the 12 months to August 2014. The number of capital city dwelling approvals has increased by 21.9% over the past year. 
Over the year there were, 71,662 approvals for houses and 75,460 unit approvals with house approvals up 20.6% and unit approvals 23.2% higher.
Much like the national results you can see that unit approvals are at their higher levels while house approvals are only just approaching their previous peak levels.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
 
 
<img src="/images/2014/10/8/Chart-4.jpg" alt="">
Across the individual capital cities, Brisbane has recorded the greatest increase in dwelling approvals over the year (41.8%) followed by: Perth (24.9%), Adelaide (24.0%) and Sydney (23.3%). Dwelling approvals are lower over the year in Darwin (-6.8%) and Canberra (-6.4%) while Melbourne (16.3%) and Hobart (19.4%) have recorded only moderate rises in dwelling approvals. 
Despite certain cities recording significant rises in dwelling approvals, Sydney and Melbourne have accounted for more than 57% of all capital city dwelling approvals over the past year. With 26,123 dwelling approvals over the past year, approvals in Perth are at a record high while Brisbane approvals are just shy of their record high.
<img src="/images/2014/10/8/Chart-5.jpg" alt="">
A key driver of the overall increase in dwelling approvals has been the rising prominence of the unit market. Over the past year, the increase in unit approvals has been greater than the increase in house approvals in Sydney, Brisbane, Adelaide and Perth.  Although unit approvals have recorded greater increases in these cities, there has been a substantial decline in unit approvals across Hobart and falls in both Darwin and Canberra.
<img src="/images/2014/10/8/Chart-6.jpg" alt="">
With more than half of all capital city dwelling approvals for units as opposed to houses, all individual capital cities except for Adelaide (31.8%), Perth (25.9%) and Hobart (7.0%) are seeing a majority of approvals for units. In Sydney, 67.7% of dwelling approvals were for units over the past year, elsewhere 53.0% were for units in Melbourne, 55.9% in Brisbane, 63.2% in Darwin and 57.9% in Canberra.
Sydney has consistently approved more units than houses since 1993 and Darwin has consistently approved more units than houses since 2003, while across the other cities it is a relatively new phenomenon.  
Melbourne has only been approving more units than houses since mid-2012, in Brisbane it has occurred since mid-2013 and in Canberra since mid-2010. Of course, there is an increasing level of demand for units, but particularly in Melbourne and Brisbane the number of units in the pipeline is largely untested in the market. 
Furthermore, units tend to be more appealing to the investor market rather than owner occupiers. While demand may currently be strong it remains to be seen whether there is enough investor demand to satisfy all of the supply in the pipeline.
Dwelling approvals remain at a very high level and with the rate of population growth slowing it is encouraging to see that supply is finally responding.  With their lower price point compared to houses and superior rental returns no doubt we are seeing a rising level of demand for units, particularly in inner city markets. 
Of course, the Reserve Bank of Australia has raised concerns about the level of investment lending which is most prominent for inner city units.
If controls are introduced to slow the level of investment there may be an adverse impact on demand and subsequently values of inner city units, particularly new inner city units which are a strong target from the investment segment of the market.
 
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Units are driving dwelling approvals, but will they get built?

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The Housing Industry Association’s New Home Sales Report recorded a lift in sales over August after weakness in July, which they say makes the decline of new home sales modest.
Housing Industry Association (HIA) economist Diwa Hopkins said that despite a downward trend in total seasonally adjusted new home sales, the 3.3% August increase has ensured that the decline is modest.
“Despite the August bounce, we still hold the view that new home sales reached their peak for the cycle back in April this year,” said Hopkins.
“The result for August was driven primarily by a strong lift in the volatile 'multi-units' sector where sales increased by 19.8%, taking this component of sales to its second highest level this cycle.”
Detached housing, however, increased by 0.5% after a decline over the previous months.
“As leading indicators of new home construction activity, both HIA New Home Sales and ABS Building Approvals are displaying a moderate downward trend,” she said.
“Current levels remain elevated by a historical standard, which is consistent with still healthy levels of new home building throughout 2014/15.”
Detached house sales increased by 11.1% in New South Wales over August, while jumping by 2% in Western Australia. Meanwhile, drops were seen in South Australia, Victoria and Queensland with 6.8%, 6.0% and 0.7% falls respectively.
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Decline of new home sales is modest: HIA

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A new report from Aussie and RP Data, the Property Discounting Report, was shared out on Twitter allowing buyers to see where the areas are that they can expect to pay less than the advertised price.
<img src="/images/2014/10/6/Picture%201.png" alt="">
<a href="https://www.propertyobserver.com.au/https://twitter.com/Aussie/status/517524379840696321" target="_blank">According to the report</a>, just 3.8% of houses sold at the advertised price by private treaty, with 4.7% of units attaining their asking price. However, the majority of houses and units nationally are actually selling less, at 63.4% and 58.1% respectively.
In the capitals this is less of the case, with 43.6% of houses and 46% of units selling above their list price.
So, where have they found selling below list price? You can<a href="https://blog.aussie.com.au/where-in-australia-you-can-expect-to-pay-more-or-less-than-the-advertised-property-price/" target="_blank"> see the full report here</a>, however the top 10 house suburbs include:
<ol>
<li>Emu Park, Qld 
</li>
<li>Port Pirie West, SA 
</li>
<li>Whyalla Playford, SA 
</li>
<li>Granville, Qld 
</li>
<li>Scotts Head, NSW 
</li>
<li>Maruya Heads, NSW 
</li>
<li>Harden, NSW 
</li>
<li>Wooli, NSW 
</li>
<li>Diamond Beach, NSW 
</li>
<li>Derby, WA</li>
</ol>
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