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

Joel Robinson

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

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Property market

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The Sydney Swans captain Kieren Jack, has kept himself busy amid his much publicised family feud, to list his redundant former Randwick home.
Jack bought the 1920s home in 2012 for $1.295 million.
But the AFL star has no need for it following his now completed renovation in Paddington.
The recently vacated Canberra Street, Randwick property has just seen a one year rental expire last month having been up for rent in June last year at $1,000 a week.
Set on 234 sqm, the dual level family home combines original Federation features and contemporary appointments.
It has two bedrooms, a recently renovated bathroom, modern kitchen and home office.
There's a low maintenance rear garden with barbecue area and treelined courtyard.
Carl Wilson at Home Estate Agents is taking it to August 13 auction, after Courtney Giles from Advantage Property Styling furnished the home.
Given two nearby sales at $1.8 million plus, Wilsn is suggesting $1.7 million to $1.8 million price guidance ahead of this weekend's first open for inspection.
Jack calls Paddington home, having bought a two bedroom terrace in 2014 for $1.34 million. His is the only name on the title, not girlfriend Charlotte Goodlet.
He had former Swans player David Willis undertake the project in Paddington.
He climbed onto the property ladder aged 22 just two years into his Sydney Swans career, buying a two bedroom Randwick apartment in 2009.
Set in a renovated block of nine units, Jack paid $570,000 for the apartment which was listed for rent at $560 a week in 2014. He retains the apartment on Mulwarree Avenue.
The Swans star has been making headlines for all the wrong reasons as the Sydney side still look set for a top eight finish despite a demoralising late defeat to the Hawks on Thursday night.
He's been embroiled in a media battle after mum Donna took to social media at her annoyance that Jack gave free tickets for his 200th game to the parents of his girlfriend, Charlotte Goodlet.
She tweeted "So sad. Dad 200 RL you 200 AFL &amp; you dont want us there, your parents. No appreciation for all the yrs helping you get there."
It's well broadcasted that Donna and Kieren's father, rugby league legend Garry Jack, haven't embraced the relationship with the model who was a finalist in the 2013 Miss Universe Australia pageant.
Jack has been dating Charlotte, who is also the Nine News producer, for over three years.  
This article was first published in the Saturday Daily Telegraph.
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Kieren Jack lists redundant Randwick semi

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Longreach sits amid Investar's 10 most distressed localities. It is among the four Queensland locailities in the list. Investar put the distress rate at 48 percent in Longreach.
Thornton from NSW topped the lis, with Hinchinbrook the only other NSW entry.
The list was produced using live on the market rental and sales listing data including distressed sale condition keyword analysis.
It identified listings with one or more keywords that would indicate an increased level of seller motivation and calculated this as a percentage of total listings on the market.
This data is designed to identify suburbs with the highest percentage of potentially distressed price stock based on the descriptions used by agents and vendors.
Current examples at Longreach include <a href="https://www.realestate.com.au/property-house-qld-longreach-120314653" target="_blank">177 Kingfisher Street</a> which is advertised as having a "drastically reduced $299,000" sale price. Its initial asking price was $350,000. It was bought for $355,000 in 2012.
 
Suburb State Postcode Dwelling Type Bedrooms % of Listings Days on Market Median Price Median Price Growth 1 yr Median Rent Rental Yield Median Rent Growth 1 yr
1 THORNTON NSW 2322 House 3 76.29% 63 $373,500 9.05% $350 4.87% 2.94%
2 NOLLAMARA WA 6061 Unit 3 60.47% 112 $410,000 -8.69% $380 4.81% -9.53%
3 KILMORE VIC 3764 House 4 56.32% 131 $340,000 5.10% $340 5.20% 3.03%
4 BRACKEN RIDGE QLD 4017 Townhouse 3 50.00% 126 $325,000 0.00% $375 6.00% 2.73%
5 SCARNESS QLD 4655 House 4 50.00% 298 $327,000 -2.39% $330 5.24% -1.50%
6 LONGREACH QLD 4730 House 3 48.72% 563 $255,000 -3.78% $250 5.09% -9.10%
7 COOKTOWN QLD 4895 House 2 48.00% 338 $320,000 0.00% $275 4.46% 1.85%
8 MOUNT TARCOOLA WA 6530 House 3 47.37% 178 $299,000 -12.71% $300 5.21% -11.77%
9 HINCHINBROOK NSW 2168 House 3 43.75% 71 $600,000 3.53% $460 3.98% 2.22%
10 EAST BUNBURY WA 6230 Unit 3 43.48% 124 $299,500 -11.92% $330 5.72% 3.12% 
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Longreach sits amid Investar's 10 most distressed localities

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The top sale for the week ending 3 July was a four bedroom, three bathroom home in the New South Wales suburb of Henley according to CoreLogic.
The property, 27 Dick Street, sold for $5,900,000 through Ward Partners.
Top Ten
27 Dick Street,Henley, NSW 4 bed, 3 bath, 2 car house $5,900,000 Ward Partners 
12 Newton Road, Strathfield, NSW 6 bed, 6 bath, 2 car house $4,290,000 Devine Real Estate Strathfield 
54 Seaview Terrace, Sunshine Beach, Qld 5 bed, 4 bath, 3 car house $3,900,000 Tom Offermann Noosa Heads 
3 Elvina Street, Dover Heights, NSW 4 bed, 3 bath, 2 car house $3,650,000 LJ Levi Real Estate Rose Bay 
22 Bromley Avenue, Pymble, NSW 5 bed, 4 bath, 3 car house $3,460,000 Chadwick Real Estate Pymble 
141 Jefferson Lane, Palm Beach, Qld 4 bed, 4 bath, 2 car house $3,300,000 McGrath Estate Agents 
92 Daley Avenue, Daleys Point, NSW 5 bed, 7 bath, 4 car house $2,800,000 Domain Property Group 
30 Kardella Avenue, Killara, NSW 4 bed, 2 bath, 3 car house $2,770,000 McConnell Bourn Lindfield 
31 Waterline Crescent, Bulimba, QlD 4 bed, 2 bath, 2 car house $2,750,000 Adcock Prestige Brisbane 
1/23 Addison Road, Manly, NSW 3 bed, 2 bath, 2 car unit $2,695,000 Cunninghams Property Balgowlah 
 
 
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Henley four bedroom tops weekly sales: CoreLogic

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Two high density superlots in Sydney's northern suburb of Macquarie Park have been offered for sale as one package via an expressions of interest campaign through Colliers International.
UrbanGrowth NSW's  second stage land release at Lachlan’s Line also includes an affordable housing offering which must be purchased by a community housing provider, or a private developer in a joint venture or similar.
Bates Smart has prepared the concept design for around 172 apartments and the third site of 96 affordable housing apartments.
UrbanGrowth NSW head of Western Sydney Projects Matthew Beggs said the vision for Lachlan’s Line is to create a vibrant new residential neighbourhood and local destination with quality public domain and amenity. 
“Macquarie Park is considered one of the most sought after residential development locations in Sydney. Lachlan’s Line is ideally positioned to capitalise on opportunities such as transport, employment, education, and the high level of demand for quality residential apartments within the Macquarie Park area,” he said. 
“We are expecting strong interest from local and international developers who can demonstrate the capability to deliver outcomes in line with our vision for Lachlan’s Line.”
The Lachlan’s Line project was announced by the NSW Government in 2013 as part of the NSW Government’s North Ryde Station Precinct. The new contemporary urban village will provide approximately 2,700 homes for around 5,000 residents. 
For more information <a href="https://www.urbangrowth.nsw.gov.au/projects/lachlans-line-at-macquarie-park" target="_blank">click here</a>.
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UrbanGrowth NSW superlots on sale at Lachlan's Line

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Nearly one third of all homes resold over the March quarter did so at more than double their previous purchase price, with the average gross profit around $239,855 according to the latest Pain and Gain report from CoreLogic.
The report found 90.8 percent of properties resold over the quarter made a profit and 31.9 percent of homes resold for more than double their previous purchase price.
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The report found the proportion of both house and unit loss-making resales across the combined capital cities trended higher over the past quarter.
"Over the quarter, 5.8 percent of house resales and 9.4 percent of unit resales were at a price lower than the previous purchase price," the report noted.
"The data shows that historically capital city houses are much more likely to resell for a profit than units. In fact, there has been no period over which the proportion of loss-making resales was higher for houses than it was for units. 
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"The proportion of loss-making resales has increased across each capital city over the most recent three months. 
"While the proportion of loss-making resales has risen, on an historic basis most cities are still seeing quite a low instance of homes reselling at a loss. Perth and Darwin are the exceptions, seeing high proportions of loss-making resales. 
"In Perth, 16.3 percent of homes resold at a loss the highest proportion since September 1997 and in Darwin 21.1% of homes resold at a loss, the highest proportion since April 2003."
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Nearly one-third of homes resold for more than double their previous purchase price in March quarter: CoreLogic

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In our Purchase or Pass segment this week we are joined by Anthony Bell from Bell Partners, Nathan O'Brien from Century 21 and Tom Panos from News Corp we take a look at an investment property based that’s recently been on the market and we discuss the pros and cons and whether we would buy it personally.
Location: 8.2kms from CBD
Beds: 2
Bath: 1
Parking: 1 (2)
SQM: 90m
Price: $1.411m
Rent: $1,000-1,100/wk 
<img src="/images/2016/06/30/Screen%20Shot%202016-06-30%20at%202.01.51%20PM.png" alt="">
It’s a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment/nsw/eastern-suburbs/coogee/299216" target="_blank">2 bed, 1 bath unit with lock up garage</a>, 8.4kms from the CBD and just 130m to put your toes on the sand of the local beach. It’s in a very small, boutique Art Deco, security block of 6 units, with no lifts, gyms or pools. There’s 2 large double bedrooms, a deluxe gallery kitchen and a designer bathroom with separate shower and bath. Whilst it is not on title and hasn’t been advertised as such, it is possible to park a second car outside your garage.
Chris: So, talking to you Nathan, what are your initial thoughts on it?
Nathan: Generally speaking Chris, I think it looks to be a well maintained property. It is looking a little bit old, but I think it presents well. 
Chris: Yep, sounds good. Now, Antony, it’s probably good for an estate agent to be honest and to not have advertised it as two spaces when it’s only one
Antony: Yeah, I think if you’re getting it for free, you know, it’s an excellent proposition, but if you’re paying for it I’d be obviously checking the contract and checking what the real rights to that property actually are. Look, I think that property ticks a lot of the boxes, I wouldn’t say all of them, the age of the building (that) was just mentioned is a very poignant piece to take into control and so the body corporate and where that’s all up to, to me, would be high on the examination list.
Chris: Look, that’s probably one of the things, having a small block. People say ‘why should I have a small block rather than 100 people in there?’ If you’ve got six people to convince, I’m sure you guys get to deal with these strata issues, how easy is it to deal with the six people to make a decision versus the 100?
Nathan: Absolutely, it’s a lot easier when there are less people involved, however, I think at the same time, I think overall just coming back to your questions, it’s an appealing block, but I think also that can be a bit of a challenge at times with strata costs as well. So, you’ve got to weight up the pros and cons.
Chris: And also give them the right kinds of things for the suburbs, because some people love the lifts, gyms and pools, but it could be argued, well, if the beach is around your doorstep why do you need all that kind of stuff.
Antony: I think that’s important, I do like units that have outdoor space attached to them, meaning a balcony, or some opportunity to… actually just while you’re inside your living space you get a shot at just walking out… but it’s still ticking all the boxes.
Chris: Again with the second parking, whether you’ve got it on title or not… if you can use it, how many renters and owners die for something like that?
Antony: Look, on a beachside place you can only imagine parking on a Sat or Sunday is going to be an absolute difficult thing to pull. So, if it’s through the body corporate records, it’s not on title but it’s actually awarded to the owner of the strata, then I’m a like for it and I think that becomes a really important part of the second spot in today’s sort of living- very rarely do you have a family of one car and it gives you the opportunity of bringing other tenants in or share apartments and that will push the rent up.
Chris: I mentioned that the agent, we don’t mention which agents are selling these properties or the addresses or anything, but this agent, he’s done the right thing, he’s advertising it as one rather than two. I guess from your perspective being an estate manager, there must be a lot of pressure on agents now, you’ve got to do the right thing and you’ve got to advertise legally what it is.
Nathan: Absolutely, you’ve got to not misrepresent the property in any way shape or form but the fact that you’ve got the space there for a second car, it’s a huge selling point. Especially for when you’re looking for the right tenant, you really want to maximise your rent there. It’s definitely a great value add to that property.
Chris: Again, probably going back to the clearance rates our conversation right at the start of the show, these kind of things are so unique the clearance rates on those are nearly 100 percent no matter what the market, aren’t they?
Antony: Yeah, hot demand on both sides Chris. Hot demand on clearance rates, which means that there would always be an upward pressure on pricing.
If you’re an investor and survive the negative gearing onslaught … if you lose a tenant, your speed to acquiring a new tenant is going to be very very fast in areas like that so your days off market, rent wise, are going to be very very few.
Chris: Purchase or pass for you
Antony: I would buy
Chris: and how about yourself
Nathan: Yeah, same with me, purchase 
Chris: I think this is a cracking unit if you’ve got the funds to buy it as it really does tick every single box. The rent in winter in a more expensive property might drop down below 4 per cent at times but I think the capital growth will more than compensate so I would buy.
To watch the episode in full, <a href="https://www.youtube.com/watch?v=0VvouEoiSw4" target="_blank">click here</a>.
 
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Chris Gray's Purchase or Pass: To buy or not to buy

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<div>GUEST OBSERVER </div>
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There is no doubt that the vote in favour of Brexit will generate a period of renewed uncertainty, but mainly in the UK and Europe. Some demand, especially from investors and businesses (hiring and investing), will be delayed and in some cases redirected to other markets.
Demand for Australian property may actually benefit (as a safe haven) as globalinvestors pause in directing capital into Europe and our demand rests on a wide range of drivers – most of which are unaffected by the referendum decision: the scale of Australia’s business clusters, depth of skills, education, lifestyle and language etc. 
However it must be said that the world is entering a period of renewed uncertainty inthe UK and London market, and ongoing issues around EU and especially Eurozone stability, which will be highlighted in the run up to French and German elections. Uncertainty and instability is bad for financial markets and capital investment, so let’s see what impact it may have on borrowing costs and business/consumer confidence here in Australia. 
The UK has long been a destination for Asian (Chinese mainly) real estate investors, with the attraction of the strong liquidity, stable governance, transparency and clear title. With the decision to exit the European Union, for existing Asian property owners, the fall in the pound will impact the repatriation of any income returns, as well as the gains on any disposal.
Although there is likely to be more volatility in the market, ultimately most investors are looking to the long term – so will continue to hold their assets, in the hope that any short-term instability will eventually subside when more clarity of the UK’s role in Europe is determined.
The decision, however, could also present a buying opportunity for owners not already set, as the significant drop in the value of the pound, as in 2009, could lead to an uptick of interest by Asian investors, who, over the last few months have adopted a wait-and-see approach to the referendum – and will now see their buying power increase significantly.
As stated above, Chinese, Singaporean and Hong Kong investors especially, looking at both residential and commercial properties, could also start to look even harder at markets like Australia over the remainder of 2016 until the dust settles in UK/Europe.
Regarding interest rates, an interest rate cut of 25 basis points is a strong possibility at the UK Monetary Policy Committee’s July meeting, or perhaps earlier if required. We may also see a return of quantitative easing, if there are signs that investment is deteriorating. I think the RBA is now even more likely of cutting rates, either in July or more likely in August once the inflation number comes through.
Uncertainty for businesses is the biggest threat to Australia in a very global world. It is therefore inevitable that business behaviour will be stifled over the short-term and delays in occupier decision making will persist. 
Despite this, over the medium-term there are reasons to be positive. First, the pessimistic scenarios highlighted during politicised campaigns often fail to emerge. Second, as the dust settles, and the UK and global economy stabilises, businesses will reconnect with the fundamental qualities of Australia as a business location; ranging from corporate tax rates, to the large consumer market, to the highly skilled worker base, to the lifestyle.
Matt Whitby is Head of Research &amp; Consulting, Australia, Knight Frank and can be contacted <a href="https://www.knightfrank.com.au" target="_blank">here</a>.
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Potential impact of Brexit in Australia: Knight Frank's Matt Whitby

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GUEST OBSERVER
New home sales declined by 4.4 percent in May after falling by 4.7 percent in April. The decline reflected a fall in detached house sales (-6.7 percent) but sales of ‘multi-units’ rebounded (+4.9 percent).
The new home sales data is important for housing-dependent companies such as builders, developers and retailers.
What does it all mean?
The latest weakness in new home sales resonates with all the other data on the housing sector - in particular the data on home loans, which has been decidedly more mixed in the past few months. It is clear that housing activity is consolidating with potential home buyers being more circumspect on purchases – a result which is encouraging, as it should ensure a much more sustainable housing market.</div>
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 Interestingly the data is for May and would not fully factor in the surprise decision by the Reserve Bank to cut the cash rate, and the subsequent decision by the banks to pass it on to mortgage rates. It is likely that the rate cut and the speculation of low interest rates over the medium term will support demand for property.</div>
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<div class="column">Importantly the pipeline of new home building remains solid and should support an array of sectors and broad- based activity. The latest data doesn’t have a great influence on the next interest rate decision. The Reserve Bank is determining whether lower-inflation Australia can justify having an interest rate structure closer to those in other major advanced economies.</div>
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<div class="column"><a href="/images/2016/06/29/Screen%20Shot%202016-06-29%20at%202.23.06%20PM.png" target="_blank">Click to enlarge</a></div>
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<div class="column">What do the figures show?</div>
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<div class="column">New home sales</div>
<div class="column">Total seasonally-adjusted new home sales declined by 4.4 percent in May 2016 after sliding by 4.7 percent in April. The decline in total sales was reflected in a decline detached house sales (-6.7 percent) but sales of ‘multi- units’ rebounded (+4.9 percent). The Housing Industry Association reported: “In the month of May 2016 detached house sales declined in three of the five mainland states: New South Wales (-11.5 percent); Victoria (-8.2 percent); and Queensland (-11.0 percent). Detached house sales increased in South Australia (+3.8 percent) and in Western Australia (+5.4 percent).”
What is the importance of the economic data?
The Housing Industry Association releases data on the sales of new homes each month. The HIA collects the data each month from a sample of Australia's largest 100 home builders. 
The survey covers around 14 percent of the home building industry.
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Back to back declines in new home sales: CommSec's Savanth Sebastian

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GUEST OBSERVER
There is no doubt that the vote in favour of Brexit will generate a period of renewed uncertainty in the prime London residential market.
Some demand, especially from investors, will be delayed and in some cases redirected to other markets – although the significance of these trends should not be overstated. 
Demand for prime London property rests on a wide range of drivers – most of which are unaffected by the referendum decision: the scale of London’s business cluster, depth of skills, education, lifestyle and language.
It is not easy to identify an obvious alternative destination for investors despite short-term nervousness.
While we are entering a period of renewed uncertainty in the UK and London market, ongoing issues around EU and especially Eurozone stability, which will be highlighted in the run up to French and German elections, are likely to counter this risk and shore-up London’s safe haven appeal.
 
Liam Bailey is partner, Global Head of Research for Knight Frank and can be contacted <a href="https://www.knightfrank.com/research" target="_blank">here</a>.
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Brexit and the impact on prime London real estate investments: Knight Frank's Liam Bailey

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A six bedroom Potts Point family home leads the top sales for the week after its $5,850,000 sale.
The property, 18 Rockwall Crescent, Potts Point sold through Richardson &amp; Wrench Elizabeth Bay/Potts Point. 
TOP TEN SALES
18 Rockwall Crescent, Potts Point, NSW 6 bed, 4 bath, 2 car house $5,850,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point 
3/36 Macleay Street, Potts Point, NSW 3 bed, 3 bath, 2 car unit $5,400,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point 
12 Havilah Street, Chatswood, NSW 4 bed, 3 bath, 2 car house $4,500,000 Shead Property Chatswood 
1/3 Oyama Avenue, Manly, NSW 3 bed, 2 bath, 1 car unit $4,400,000 Belle Property Manly 
15 Weetawaa Road, Northbridge, NSW 5 bed, 3 bath, 2 car house $3,975,000 Ray White Northbridge 
9 Wirra Close, St Ives, NSW 5 bed, 4 bath, 4 car house $3,800,000 McGrath Estate Agents 
91 Cutler Road, Clontarf, NSW 6 bed, 4 bath, 2 car house $3,700,000 Sotheby’s International reality Sydney 
75 Mowbray Place, Willoughby, NSW 4 bed, 2 bath, 2 car house $3,120,000 Ray White Lower North Shore 
45 Highgate Street, Strathfield, NSW 5 bed, 3 bath, 3 car house $3,070,000 McGrath Estate Agents 
34 Bowman Street, Aspendale, Vic 3 bed, 2 bath, 2 car house $3,065,000 RT Edgar Brighton 
 
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