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.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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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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Residential property listings nationwide rose 3.4 percent in February from January driven mainly by a 15.1 percent rise in Sydney listings, according to new figures from SQM Research.
Listings in Hobart, however fell 0.7 percent month on month. Sydney listings had a year-on-year rise of 18 percent and Melbourne recorded  a yearly fall of 5.6%.
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SQM Research managing director Louis Christopher said listings normally rise at this time of year as the market fully opens up from the summer hiatus. The rise from Sydney however is well above normal seasonality and well above levels recorded this time last year.
"This is evidence of a slower Sydney market where it is taking longer to sell," he said.
"On the other hand, recording a decline at this time of year, as what has happened with Hobart, is also abnormal and is suggestive of a strong market made up of many buyers and fewer sellers.
 "Year-on-year results indicate that residential property listings are up for most capital cities. 
"Notably, property listings in Sydney and Darwin are considerably higher than this time last year (February 2015), with residential property listings climbing from 21,769 to 25,698. Darwin also experienced excessive yearly growth with sale listings up 12% based on a total 2,050 listings. These figures indicate that the number of property sellers in both residential markets has increased when adjusting for seasonality."
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Surge recorded for national residential property listings: SQM

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NSW Central Coast was at the top of the residential property clock for houses in valuation firm Herron Todd White's latest report - a simple broad brush means to suggest where property markets are as at February 2016 - and a slowdown might be expected.
Although the mechanics of the Central Coast region are distinct, the local happenings are influenced by markets in neighbouring regions.
Sydney is generally considered as the central hub with a direct effect on all other regional markets within its radius.
The Central Coast’s strong market in 2015 was undoubtedly underpinned by Sydney-based buyers finding themselves unable to compete in the Sydney market. This resulted in better than average rises in property values across the region as well publicised.
This link is, therefore, proven, say HTW.
The predictions for 2016 are well publicised, with some analysts expecting ongoing increases in property values, others saying the market will plateau while some predict falling market values.
Each scenario has the potential to emerge and what will eventuate will most likely be the result of government fiscal policy, general economic forces, lending practices and whatever the media tells us.
After such a strong year for the period leading to October, the year ended with a bit of a whimper for the region’s market. Sales volumes fell somewhat and there were no continuing increases in values.
Some points of note though:
• The sudden departure of Asian buyers having a noticeable effect on sale volumes;
• Purchase prices being nearer and sometimes below indicated asking prices as opposed to new
records being set every other day;
• Buyers being a little more selective and acting with less urgency;
• The much hyped talk of new residential unit developments in Gosford and other regionally
significant developments falling away on whispers that presales and interest were less than expected
and project finance was difficult to secure;
• Increased positivity in the retail sector that had been missing for the past several end of year
periods.
So, what to expect for the NSW Central Coast region for 2016?
If previous property cycles are to be repeated, then the region’s market is expected to slow as one property cycle ends and another starts.
The market has been at its peak for some time and a slowdown may be round the corner, but the peak lasted longer than expectations, according to HTW.
This is the main difference between this cycle which has been building slowly by comparison over several years and is more controlled as opposed to previous cycles which experienced faster rises over shorter periods, the report said.
According to HTW, while some of the region’s 160 suburbs will see a fall in values this year, most will continue to trade close to or near current values, but with reduced volumes.
Areas likely to see a drop in value will be those where values increased well beyond comfortable levels. This include Umina Beach and Woy Woy where values have risen extraordinarily (between 47% and 49% over the past three years) to the point where they are now in direct competition with some Sydney suburbs and a wane in demand seems inevitable as buyers switch their attention to other suburbs.
In Wyoming and Kariong values have risen more than 10% over a 12-month period and need time to settle down again.
Something for buyers to be wary of is the unit market in Gosford where close to 700 units have been approved recently. Many sites are still in the pre-construction phase and if too many start and finish in a short time frame, then there might be an oversupply situation.
The median house price in Gosford was $570,000 while for units it was $365,000, according to RP Data.
 A recent apartment Property Observer found on the market on realestate.com.au was Unit 5 at <a href="https://www.realestate.com.au/property-unit-nsw-gosford-121910506" target="_blank">75/77 Faunce Street</a> (above) for $435,000.
Another sign that confidence has returned to the market is the presence of buyers at the higher end of the region’s value range. Absent for some time, some say the return of these buyers provides a restorative factor in the market, add HTW.
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NSW Central Coast may see slowdown after reaching peak of property clock: HTW

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The January market has been strong in the Illawarra district despite some hesitation on the longevity by both agents and buyers, according to Herron Todd White.
Herron Todd White's Month in Review for February said local real estate agents are in general bullish that they can see the results in 2015 replicated in 2016. However while many 12 months ago said that the past two years was simply the catch up that was needed, it is plain that the meteoric rise in prices cannot continue.
"Some northern beaches agents in the Wollongong area are telling us that where they used to have several people vying for properties at auction, they are now struggling to get a pair," the report noted.
"We saw many auctions postponed or vendor bids come into play right at the end of 2015. In our view there will not be a major drop in prices as there will still be some strength in the local market due to one thing – a continued low interest rate environment.
"Inner northern suburbs up to Bulli offer the best value for money in our opinion and postcodes such as 2519, 2517 and 2518 rate highly. Look for flat blocks and beach and train proximity. Sea views are becoming less valued as closeness to shops, schools and transport take over. 
In the southern areas, we look to Shellharbour and Kiama as our picks. Shellharbour’s Marina is well underway and will really boost this seaside village, particularly now that the new train station has opened at Shellharbour Junction. Kiama is a well preserved seaside location with relatively low rise development and that special village feel. 
"An increased supply of new units in the CBD, North Wollongong and other inner north areas should be viewed with caution in regard to stability of price levels in this sector."
 
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2016 sees Illawarra market starting strongly: HTW

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Dwelling rental growth is now at its lowest level on record according to the first CoreLogic RP Data Rental Review for 2016. Currently the median rent rate is recorded at $443 across the combined capital cities. 
CoreLogic RP Data has tracked annual rental changes since 1996 and over that time, rental growth conditions have never been weaker. At the same time last year rental rates had increased by 1.7 percent highlighting that the slowdown in rental conditions has been sharp over the year.
A combination of factors is affecting the national rental market. Among these is a higher level or rental stock resulting in greater options for renters, a slowdown in population growth, higher than normal investment activity and stagnant wage growth. 
More rental stock at a time when demand is easing due to slowing population growth, and little wage growth for renters, has resulted in flat rental growth conditions over the past year. 
For renters there is a lot more accommodation options in the market while simultaneously, landlords are now required to respond to a more competitive environment which, in many cases means keeping rents steady or in some areas reducing rents in order to keep a tenant. 
CoreLogic RP Data analysis shows rents across the combined capitals rose by 0.2 percent in January 2016. The only capital cities to see a rise in rents over the month were Sydney, Melbourne, Adelaide, Hobart and Canberra, elsewhere rents dropped. 
Across the individual capital cities, over the past year: 
Rents increased in Sydney (+1.4 percent), Melbourne (+2.1 percent), Hobart (+0.1 percent) and Canberra (+1.8 percent). 
Rental rates have fallen over the past year in Brisbane (-0.7 percent), Adelaide (-0.4 percent), Perth (-8.6 percent) and Darwin (-13.4 percent). 
Across every capital city except Canberra the rate of annual rental growth or decline is currently lower than it was a year ago indicating that the weaker rental market conditions are prevalent across most capital cities. 
Rental Market Update: 
Weekly rents across the combined capital city measure increased 0.2 percent over the month of January however they were unchanged over the past 12 months. 
Currently, combined capital city rental rates are $487/week for houses and $465/week for units. 
It is possible that over the coming months, rental rates could begin to fall on an annual basis due to additional new rental supply entering the market.
 
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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Softest conditions on record for capital city rental markets: Cameron Kusher

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Chinese investment in Australia’s real estate market has not declined despite fears that the RMB’s devaluation and stock market crisis there would impact outbound investment, and the trend is expected to continue, according to a Knight Frank report.
Chinese investor — big and small — appetite for overseas real estate was also supported by the growing need for diversification from the Chinese market, says the report. 
The China-Australia Free Trade Agreement, the Qualified Domestic Individual Investor or QDII schemes are expected to drive more Chinese investment in the Australian property market, says Knight Frank’s second global China Outbound Real Estate Investment report: New Waves, New Destinations. 
Sydney and Melbourne alone attracted a total of US$3.8 billion in Chinese investment in 2015, next only to Manhattan, New York at US$5.78 billion. 
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Total Chinese outbound capital doubled to nearly US$30 billion in 2015 from 2014, according to the report.
“Investor interest in Australia, particularly in Sydney, has not diminished as many had feared – even after the latest RMB devaluation and with demand for natural resources weakening,” said Knight Frank’s head of Research &amp; Consulting, Australia, Matt Whitby.
“Australian prices, coupled with strong Chinese buying power and continued weakness in the Australian dollar, has continued to attract capital inflow.”
Chinese investment into the Sydney and Melbourne markets skyrocketed in the from 2010-2015 period, added Knight Frank’s head of Asian Markets, Australia, Dominic Ong. 
“Given the level of growth that we have experienced over the past five years, we anticipate that the outflow of Chinese investment into Australia will remain at steady and strong levels but it will be difficult to beat 2015,” he said. 
CIC’s purchase of the Investa Portfolio for $2.45 billion was the biggest deal that boosted the figure last year, he added.
According to Ong, Chinese investment activity will be concentrated on development sites and office investments, focusing on prime product in the Sydney and Melbourne markets. 
He predicted some growth in 2016, but potentially not levels as high as Australia has seen in the last few years.
“I expect demand will be strong for the next three to five years, but what might affect the transaction volume will be supply – the lack of available prime stock available in the best locations,” said Ong.
 
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Chinese to continue investing in Australian real estate in 2016: Knight Frank

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This time every year, with the close of February approaching, we all dream of an endless summer. But according to our agents, the sun hasn’t set on the marketplace, and won’t for some time.
Spring and summer have traditionally been the major selling seasons for vendors, but conditions could turn that tradition on its head in the coming cooler months, especially with the recent strength seen in auction markets in both Sydney and Melbourne.
The numbers of people turning out to open-for-inspections have been very strong since the holidays wound up. Many buyers have been enticed by a slowdown in price growth across certain markets.
It is this very demand combined with positive economic fundamentals that will keep real estate markets humming along in 2016.
However, overzealous commentators trying to capture media headlines and mountains of data risk overloading and confusing consumers. It is, therefore, important that buyers and sellers not be swept up in the short-term outlook.
Ensure that you do what is right for your situation and your own investment strategy rather than trying to second-guess the timing of the market.
The best data to keep an eye on is that from your own street and neighbourhood.
Strong employment figures combined with the share market volatility and already historic low-interest rates should negate any “gloom and doom” talk directed towards property markets.
While buyers are out and about, listings are tightening in parts of the country. 
We can see this in Melbourne where a lack of stock has resulted in price growth of 2.5 percent In January, outperforming even Sydney (+0.5%). The figures from CoreLogic RP Data, released last week, could well indicate both these markets are bouncing back following a slow down at the end of last year. 
Overall the economic outlook remains positive with retail spending increasing and cheaper petrol adding more money to family budgets.
Homeowners have income to pay mortgages, interest rates are still low and affordability is improving. Some of these savings will be used by people to try and pay down their debt quicker. 
Homes will spend longer on the market as we return to more normal conditions but it doesn’t necessarily mean sellers will be disappointed with the final result. 
In fact, it could prove to be similar to what I have seen from our Harveys real estate business in New Zealand where prices in Auckland skyrocketed over the past 12 months, driven by migration. Prices there are now starting to moderate to a more sustainable level, as buyer demand turns to more affordable regional markets.
Grant Harrod is chief executive officer of LJ Hooker and can be contacted <a href="https://about.ljhooker.com.au/leadership-team" target="_blank">here</a>.
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The sun hasn’t set on the marketplace: LJ Hooker's Grant Harrod

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When I keep thinking about the possible ramifications with Bill Shorten’s tax reform announcements I shake my head with utter disbelief – this is just plain dumb policy. Since the mining boom collapsed property has been a major shining light for the Australian economy.
By announcing that from July 1, 2017 negative gearing will only apply to new properties, the argument that 93 per cent of negative gearing goes to existing properties is a flawed one. Many suburbs see very few new developments each year so it’s those existing properties that add equilibrium to keeping rents competitive.
It should also be noted that it was not mentioned that with the new properties that there would be no adjustments to the previous Labor policy in 2008 that permits 100 per cent of off – the – plan purchases to foreign owners. What we are seeing today is new developments being offered off shore and many properties never hit the local market with many of these properties being land banked. It should also be legislated that all off – the – plan foreign purchases must be rented out with all properties that are currently land banked to be issued with a divestment order unless they are rented out.
What I believe will happen with negative gearing is that we will see a cap put on the number of properties that are allowed to be claimed as well as a limit to annual tax deductions that can be claimed. In the meantime one could expect property investors to be front and centre in the markets prior to the upcoming Budget announcements.
It is becoming pretty obvious that it will be some time before the Australian budget gets itself back in the black – more particularly now that an increase to the GST has been formally pooh – poohed.
Instead of looking at increasing taxes maybe the federal Government would be better suited to looking at what it can do with its massive property portfolio to pay down more debt. The Australian Government is the largest property landlord in Australia with property holdings across the country.
HMAS Penguin for example which occupies some prime Middle Harbour front land is just one of thousands of examples of land that could be put to much better economic use. Now before you start yelling and screaming all I am saying is that the federal Government should be taking a closer look at its property portfolio with a view to possibly cashing – in. The NSW Government has been active over the past few years selling off Housing Commission properties that has eventuated in quadrupling budget expectations on the likely market values.
Australia’s population hit 24,000,000 this week so it makes plenty of sense to start a conversation on how our cities are going to cope with this rapid expansion. Public golf courses will come under huge pressure to remain with their respective land values going through the roof. Although before we see those being developed the federal Government has thousands and thousands of hectares of vacant land sitting idle.
No doubt some will say it’s time to put Australia’s land resources to better and more practical use and many will say it should remain as it is. One would have to admit that it would be an interesting debate. The Australian population clock now adds one extra person to our population every one minute and 31 seconds. On top of that we also have record net overseas migration. Our population growth is now higher than that of Indonesia.
The reality is that we need to start developing more land, so that conversation should start with Australia’s biggest landlord.
No time like the present to start this long overdue conversation.
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 79
• Number of houses on the market last week – 53
• Number of houses on the market this week – 59
• Number of apartments on the market this time last year – 52
• Number of apartments on the market last week – 46 • Number of apartments on the market this week – 44
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year – 8
• Number of houses on the market last week – 17
• Number of houses on the market this week – 18
• Number of apartments on the market this time last year – 19
• Number of apartments on the market last week – 17
• Number of apartments on the market this week – 22
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 5
• Number of houses on the market last week – 9
•Number of houses on the market this week – 7
• Number of apartments on the market this time last year– 38
• Number of apartments on the market last week – 27
*Number of apartments on the market this week – 28
 
 ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Property is the gift that keeps on giving: Robert Simeon

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Melbourne buyers agent Secret Agent has noted the local market is slowly starting come alive, although in which direction is not as yet clear due to early sample data.
According to the latest Secret Agent report, market conditions in Prahran, Richmond and South Melbourne were on the up late 2015 and so far in 2016 with Brunswick, Brunswick East, Middle Park, North Melbourne and South Yarra markets going bust. 
Secret Agent said these suburbs had been performing strongly throughout the middle of 2015 and were due for a quieter period.
"The townhouse market has also noticed a softening across the board, while houses performed best at 3% over the rolling quarter. Houses have been the standout performer over the past few years as their inbuilt scarcity of land and building help this market grow," Secret Agent said.
"Apartments have continued to fall in value with Docklands, East Melbourne, Hawthorn, Melbourne CBD, North Melbourne and Southbank losing value. What may have softened the blow is the decreasing stock of apartments on the market. With stock inventory likely to grow again we should expect further downward pressure on apartment pricing in the early parts of this year.
"The rental market continues to stratify with strong demand and price growth for stand alone homes near places of work and rich in lifestyle options. New apartments are finding it harder to establish tenancies with the continued supply of new dwellings. The falling rent among these apartments gives prospective tenants plenty of choice and this is a concern for recent investors."
The report warned of property valuations which help determine financing for purchasers, with Secret Agent noting a a pull back in some values that valuers are placing on real estate after auction sales which might ripple into the market over the coming few months as caution continues to creep in, stalling growth.
Quarterly Scorecard
OCT, NOV, DEC 2015 &amp; JAN 2016
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%201.13.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%201.13.17%20PM.png" alt="" width="823" height="444">
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%201.15.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%201.15.48%20PM.png" alt="">
 
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Melbourne's Brunswick, South Yarra bust, Prahran, Richmond show momentum: Secret Agent

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GUEST OBSERVER
2016 will be the year the residential property cycle starts to ease, with growth in both pricing and development set to trend lower. 
As the residential property cycle recedes, the focus will shift to commercial property. Although investment activity is already running at a high level, interest in commercial property is set to intensify further in the year ahead. 
With pricing likely to be pushed one notch higher to reach record levels, emphasis will turn to increasing returns through improvements in rental levels or a property’s net operating income. Each commercial property sector and market offers very different growth potential.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.23.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.23.40%20PM.png" alt="">
Residential development set to ease 
Recent years have seen an unprecedented rise in residential development, driven by high rise and high density apartments. The extraordinary growth across the industry reflects a surge in investor activity and a significant shift to apartment living in all of Australia’s major cities. 
However, apartment development is likely to slow this year ― following a trend that emerged in the middle of 2015, when approvals started to drop. A decline in approvalsasshown in Chart 1, is typically a signal the commencement of new construction activity will ease within six to 12 months. 
With fewer approvals, commencements have indeed tapered, although they’ve plateaued at a high level. This is likely to see buoyant construction activity continue into 2017.
During the next phase of this unwinding process, as projects are completed, fewer will commence to take their place. The overall effect will be an eventual reduction in development activity which is likely to then continue at a more sustainable level.
Ultimately, this means some of the developments approved over the last few years will not proceed in this cycle. Owners may choose to sell those sites, providing an opportunity for others to develop uses more aligned to the changing demand-side conditions of 2016.
Brisbane and Melbourne to lead site sales
The markets which have pushed hardest in apartment approval and development over the last few years are most likely to witness site sales in 2016. Brisbane and Melbourne stand out as the cities where developers are most likely to sell sites, as markets with sufficient demand for alternative uses in both the short and long term.
Although the Australian economy is forecast to grow below trend in 2016, underlying demand conditions in some sectors are sufficient to support alternative inner-city uses provided for in new development outlined in Chart 2.
Tourism-related activity is growing on the back of the lower value of the Australian dollar and high growth in tourist arrivals from Asia, particularly China. This is leading to demand for more tourist accommodation to cater for various consumer markets.
Similarly, demand for education is enjoying steady growth, particularly for higher education from international students. Purpose-built student accommodation is considered a pre-cursor to provide for this demand. 
The easing back of the apartment development sector could be the opportunity student accommodation providers need ― enabling them to secure their desired sites in strong locations at more reasonable prices. 
Other uses may underpin development or refurbishment of existing buildings on sites previously earmarked for residential. These include boutique retail, office, medical, child care, service industrial, car parking or mixed use.
Local or State Governments may also see an opportunity in 2016 to buy sites to provide for public uses, such as schools, medical or transport-related, to better serve the large and fast-growing high density residential communities of these inner-city locations.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.24.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.24.59%20PM.png" alt="">
Alternatively, existing developer-owners in these areas may look to purchase sites to consolidate properties and plan for projects in the next residential development cycle
Turning to investment
Beyond the likely shake-out in the residential development sector, interest in commercial property as an investment is expected to continue at a high level in 2016.
As uncertainty grows in global financial markets, more investors are driven to purchase quality commercial property. The start of 2016 has already been marked by volatility in markets around the world, including Australia.
With increased investment activity over the last few years, pricing has been pushed to an all-time high, across all price points. However, although prices are high, interest rates remain low making it attractive to buy quality real estate at current prices.
However, its also important at this point of the cycle to take into consideration factors which create a high quality commercial property asset, in both the short and long-term. These include:
•Strength of location for the use(s);
•Prospect of re-letting in the case of a vacancy;
•Strength of the tenant as a leasing covenant;
•Length and terms of the lease;
•Level of the rent relative to the prevailing market;
•Prospects for rent or other property income increases;
•Physical condition of the property and the need for any capital expenditure;
•Redevelopment potential;
•Land use zoning; and
•Any building operating costs which cannot be passed onto the tenant
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.26.58%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.26.58%20PM.png" alt="">
Leasing demand holds strong
Purchasing commercial investment property at a high price places greater emphasis on the ability to increase income from the property and improve future returns.
The prospect for property income growth is driven by the strength of both leasing demand for a property and its location, as well as the number of available suitable properties competing for tenant.
In 2016, the strength of leasing demand for commercial property is likely to be highest in Sydney and Melbourne. In these two cities, growth in population, employment and the economy generally is leading the country and providing the best short-term conditions to reduce market vacancy and increase rents or other property income. 
New opportunities in the mining capitals
A significant trend in 2016 will be investors turning back to consider commercial property in Perth and Brisbane. Although these two markets have been adversely impacted by the restructure of their economies as the mining sector winds back, it seems the downturn phase of this restructure is largely over.
Looking ahead, recovery is the next phase for the Western Australian and Queensland economies and their commercial property markets. This may take some years, but it looks like the worst is over –and both Perth and Brisbane are likely to enjoy an increase in investment interest and activity over the next few years.
<a href="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.28.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/Screen%20Shot%202016-02-18%20at%204.28.10%20PM.png" alt="">
Expansion into growing markets 
Higher investment yields can be found in Adelaide and Canberra commercial property and this started to stimulate investment activity in both markets in 2015. We expect this activity to increase in 2016 as relatively higher yields will continue to be found in these markets, compared to those in larger cities.
This is also in the context of downward pressure on yields being maintained across Australian commercial property, particularly for quality assets.
There will also be opportunities to invest in commercial property in regional Australia in 2016. However the outlook in these locations varies considerably and is tied to local economic and property drivers as well as being very sensitive to tenant competition.
Those factors which contribute to a quality asset, as outlined on page 2, need to be very carefully considered and applied in smaller markets, as the level of underlying tenant demand is lower and the economies of these cities continue to be heavily impacted by industry restructure.
What does it mean for investors? 
While 2016 is expected to be a volatile year and one underpinned by an acceleration of change to property drivers, there is still plenty of opportunity to engage with the market.
The easing in high density apartment development is likely to see an increase in the sale of sites once earmarked for residential projects. These sites may provide the opportunity to offer uses to service the market created by a fast increasing population in these new high density suburbs. Ideally, shorter-term uses in existing buildings may provide the option for more intensive development in the future, when the residential development cycle strengthens once again.
In the meantime, the popularity of commercial property as an investment is set to increase further in 2016, amidst volatility of global and local financial markets. 
The challenge will be buying the right property at the right price and working to improve income returns into the short to medium-term. While the larger cities offer greater short-term possibilities in this regard, buyers need to be selective elsewhere, as the timing around improvement in the fundamentals is less clear.
 
Kevin Stanley is head of property strategy and research, Corporate Financial Services, <a href="https://www.commbank.com.au/" target="_blank">Commonwealth Bank</a>.
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2016 the year the residential property cycle starts to ease: Kevin Stanley

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The top sale of the week was a five bedroom Clontarf family home, according to CoreLogic RP Data.
The property, <a href="https://www.domain.com.au/15-moore-street-clontarf-nsw-2093-2012513938" target="_blank">15 Moore Street, Clontarf, NSW</a>, sold for $4,100,000 through Guildea Residential Seaforth. 
 
TOP TEN
15 Moore Street, Clontarf, NSW, 5 bed, 3 bath, 2 car house, $4,100,000 Guildea Residential Seaforth
6/88 Beach Street, Coogee, NSW, 3 bed, 2 bath, 2 car unit $3,825,000 McGrath Estate Agents
29 Albion Road, Box Hill, Vic 6 bed, 3 bath, 5 car house $3,800,000 Ray White Blackburn
30 Ponsonby Parade, Seaforth, NSW 5 bed, 3 bath, 2 car house $3,700,000 McGrath Estate Agents
50 Nelson Road, Lindfield, NSW 4 bed, 2 bath, 2 car house $3,630,000 Chadwick Real Estate Killara
1604/81 Macleay Street, Potts Point, NSW, 3 bed, 2 bath, 2 car unit $3,400,000 Laing Real Estate Elizabeth Bay
10 Whistler Avenue, Unley Park, SA 4 bed, 2 bath, 2 car house $3,175,000 Harcourts Platinum 
72 Cascade Street, Paddington, NSW 4 bed, 2 bath, 1 car house $3,000,000 Phillips Pantzer Donnelley
247 Edgecliff Road, Woollahra, NSW 4 bed, 3 bath, 1 car house $2,975,000 Phillips Pantzer Donnelley 
10/50 Muston Street, Mosman, NSW 3 bed, 2 bath, 2 car unit $2,850,000 Marriott Lane Real Estate Crows Nest
 
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