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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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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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Record-low interest rates, strong demand and record sales volumes kept the Australian property market going strong in 2015.
In 2016, supply will continue to support demand, but will demand hold up in the long-term? 
The WBP Property Group has analysed the market and are out with forecasts and trends. Here's a breakdown and analysis of the national market:
In Sydney, the market is showing signs of cooling. Declining auction clearance rates were to be expected, indicative of an overheated market. Prices have increased significantly in the past 12 months, seeing Sydney transition from a local buyer market to an investor-dominated market. 
In 2016, greater supply will hit the Sydney market, specifically off the plan and new developments. 
For investing, buyers would be wise to avoid Campelltown and the south western area of Sydney, which are considered high risk due to the large number of off the plan sales over the last 12 months to two years, says the group.
In Melbourne, indications are that established houses within 10 kilometres of the city and in the middle ring might be the strongest property class for growth in 2016. Demand for these freestanding houses has increased considerably through the second half of 2015, with little signs of abating. 
Perth is experiencing an oversupply of residential property, especially apartments. Rental values have softened. 
If economic conditions continue to weaken property values could retreat further in the short to medium term. 
Statistics show there is now over 16,000 properties for sale and nearly 9,000 properties for rent in the Perth metropolitan area, a clear indication of a softening and that property should priced realistically for clearance. 
Adelaide remains stable when compared to Melbourne and Sydney. There is limited supply in the prestige market, which is likely to drive heightened demand in 2016. 
Queensland will also see greater consistency in property prices as population rises, exporter confidence grows and the tourism dollar affects local trading. 
According to the group, fewer than 5% of properties on the market are specifically suited for long-term investment, and some trends that emerged from the data are: 
1. Auctions are king: most popular sales technique in inner-city areas
2. Record low rates: Australia’s low interest rates had a distinct flow on effect for vendors and buyers
3. For auctions, winter months performed better than years prior
4. Two bedroom, one bathroom, one car space most popular investment-grade property type
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j.ballantyne1990-6AQqhLzZaK

Will 2016 follow this year's property market? Valuers WBP breaks it down

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The historic sandstone cottage, Jeeda at Palm Beach has been sold again and at same price as last time.
The buyer this time was neighbour and architect Susan Rothwell through David Edwards at LJ Hooker. Chinese interests bought the Sunrise Road property from the art dealer Roger McIlroy, the former head of Christie's in Australia in 2014 for $4.32 million.
<a href="https://www.domain.com.au/40-sunrise-road-palm-beach-nsw-2108-2009047176" target="_blank">The three bedroom, two bathroom cottage</a>, which had been in the McIlroy family since 1922, sits on a 1534 sqm site. It was approved for demolition in 2012 by Pittwater Council.
The site now provides one of the last prime building sites of Sunrise Hill, where Susan has been quite active designing for the summer set.
This article was first published in the Saturday Daily Telegraph. 
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jchancellor-FAypfDUnLy

Sandstone Jeeda sold at Palm Beach

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An original freestanding cottage, a registered boarding house, in Bondi Junction has sold for $2.9 million.
The 18 Waverley Crescent property with classic Victorian styling comes with redevelopment potential, subject to council approval.
<a href="https://www.realestate.com.au/property-house-nsw-bondi+junction-121377234" target="_blank">The marketing</a> showed no internal photos given its condition.
Built on a land area of 488 square metre, the cottage has timber flooring, ornate ceilings and a neglected rear yard.
The home is currently divided into four lettable apartments. It also has four vehicle lock-up garages.
The selling agent was Kevin Mendes of Laing &amp; Simmons.
The house is a short walk from Bondi Junction, with plenty of shopping, dining and transport options.
<a href="/expert-insights/buying/bondi-junction-boarding-house-sales-achieve-record-results">Two private local investors</a> snapped up separate boarding houses in Bondi Junction for $2.25 million each earlier this month, reinforcing the view that Sydney’s eastern suburbs are one of the city’s most sought-after investment areas for boarding houses. 
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Bondi Junction boarding house sold for $2.9 million

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Steve McCann, chief of the international property group Lendlease, has secured the snappy $6.33 million sale of his four level Cremorne property.
Steve bought the then newly completed home on the southern shores of Long Bay from Platino's George Revay in 2009 for $5.6 million, shortly after becoming the group's chief executive.
The four level property was a surprise quick sale as it features two inclinations, which makes it quite hard  to secure any sale.
The home, on 859 sqm comes with numerous terraces leading to the boatshed with slipway, plus a 100 year old sandstone tidal pool.
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-cremorne-nsw-2090/280604" target="_blank">Piers Van Hamburg of McGrath Neutral Bay</a> had the listing with $6 million plus price guidance. 
The harbourfront comes with five bedrooms, four bathrooms, two offices and a library. 
This article was first published in the Saturday Daily Telegraph.
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Lendlease chief Steve McCann sells Cremorne waterfront

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<div>When I wrote my book Get a Financial Grip in 2011, I predicted a surge in property prices for a number of key Sydney suburbs located within a comfortable ten minute commute of the Central Business District, particularly those with outstanding rail transport links.</div>
<div> </div>
<div>In the event, actually most parts of Sydney have been through a real estate bonanza since that time, with solid picks demonstrating capital growth of around 60 per cent since early 2012. </div>
<div> </div>
<div>Although Sydney is presently set for a multi-year $70 billion infrastructure boom with the state coffers overflowing, preliminary auction clearance rates this week once again confirmed that many distant or outer suburbs are now wallowing in the midst of  a reversal.</div>
<div> </div>
<div>Preliminary clearance rates (CoreLogic-RP Data)</div>
<div>Inner west - 75 per cent</div>
<div>South west - 30 per cent</div>
<div>Blacktown - 22 per cent </div>
<div>Outer west - n/a</div>
<div> </div>
<div>House and land prices appreciating faster close to the city over time - explained by housing market economics as the "bid-rent curve" - partly equates to the eastern, inner western and lower north shore suburbs being the most conveniently placed for the city, lifestyle, entertainment, and Sydney beaches. </div>
<div> </div>
<div>And partly this dynamic is due to the simple geometry of concentric rings: an inner 6km ring has just 113 square kilometres of land therein, as compared to 1,250 square kilometres in the band located 30-36km from the city (the bit that is in the Pacific Ocean notwithstanding). Simply put, there is stacks of land available for development in the outer west and south west; but close to the city it is not so.</div>
<div> </div>
<div>Perhaps more important than any of this, however, is one other factor: the location of the new jobs being created in Sydney.</div>
<div> </div>
<div>Jobs deficits and surpluses</div>
<div> </div>
<div>My former employers Deloitte released another outstanding report this week entitled Designing Western Sydney - Shaping Future Cities, with this simple graphic neatly encapsulating one of the greatest challenges facing the harbour city.</div>
<a href="/images/2015/12/16/Deloitte.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Deloitte.jpg" alt=""> 
<div>Eastern Sydney - which if you are unfamiliar with the geography of Sydney, for the purposes of this report is the bit around where the city and the harbour is located - has created thousands more jobs than workers for a jobs surplus of around 175,000, and is forecast to continue doing more of the same over the decade ahead.</div>
<div> </div>
<div>Western Sydney, on the other hand, has thousands more workers (1,088,000) than jobs (881,000). The net result is that each working day well over 300,000 Western Sydney residents travel out of the region to work, compared to only 100,000 travelling into the region, for a jobs deficit of approximately 200,000.</div>
<div> </div>
<div>It is all well and good to suggest that aspiring homeowners should simply pack up and head west for more affordable housing options, but if this requires an hour long commute across congested road or rail, in aggregate this will fail to transpire. Notes Deloitte:</div>
<div> </div>
<div>"Place matters more than ever. As telecommunications and travel have grown steadily cheaper, people have chosen to live closer together rather than further apart".</div>
<div> </div>
<div>Worsening jos deficit</div>
<div> </div>
<div>The Western Sydney jobs deficit is projected to get much worse. Through 2031 more than half of the city's population growth is expected to be in Western Sydney at 52 per cent - with an extra 1 million residents expected and an estimated 664,000 new homes needed in the region - yet only 38 per cent of the new Sydney jobs are expected to be created there.</div>
<div> </div>
<div>By 2041 it is projected that Western Sydney will have a colossal jobs deficit of 340,000, while conversely Eastern Sydney is projected to have a surplus of some 238,000 jobs, with the "high value" professional and business services jobs overwhelmingly centred on the east and only a "comparative weakness" in the west (which is also home to 8 of the 10 poorest LGAs).</div>
<div> </div>
<div>Thus by 2041 it is projected that an extra 140,000 persons per day will be using the already congested transport links from Western Sydney, which would require 19 new freeways, six new train lines, or 1,700 new buses.</div>
<div> </div>
<div>It is little wonder, therefore, that Sydneysiders place a premium upon place over space, and continue to target the suburbs close to the city.</div>
<div> </div>
<div>Levers</div>
<div> </div>
<div>With easy monetary policy and a lower dollar the Sydney economy is firing on all cylinders, and it is likely that the Western Sydney region can generate 110,000 to 120,000 new jobs by the end of the decade as things stand, but Deloitte has laid down the challenge for 200,000 great new jobs to be created. </div>
<div> </div>
<div>Deloitte identifies 25 strategies and seven "levers" that can be used to generate 200,000 great Western Sydney jobs, particuarly within the health, international education, manufacturing, agribusiness. tourism, cultural, and "enabling" industries (financial services, construction, transport &amp; logistics, retail, and government administration). </div>
<div> </div>
<div>Although some Australians oppose population growth and the increased density of living, it can without question benefit economic standing, with productivity, the labour force, and the way in which businesses interact with each other all gaining from proximity, and the capital cities acting as the "engines of growth". Over the next decade Gross State Product per capita is thus expected to soar by 30%.</div>
<div>
 Although few seem to have realised it yet, the next Sydney sector to boom will be education, evidenced through a massive influx of international students.</div>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
 
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Western Sydney's job surge: Pete Wargent

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Despite the surge in confidence, sentiment in the property market for the past few months has been soft on the back of major banks raising rates and the expected increase in stock on market, the REIV noted.
<a href="/news">Every month the REIV surveys members</a> on the current and future expectations of the performance of the market. 
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%209.02.09%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%209.02.09%20AM.png" alt="">
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Estate agencies more pessimistic than actual Melbourne market: REIV

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The celebrity stylist Sibella Court can't find a buyer for her redundant rustic Paddington corner terrace even by lowering the asking price by almost $300,000.
The Victorian-era shopfront home, which helped launch Court’s The Society Inc, came onto the market several months ago at $1.65 million given her base now is in a vast warehouse at St Peters. The asking price now sits at $1.365 million.
She resides in Bondi in a shared mansion with her partner, Ben Harper, and their daughter, Silver. 
The redundant two-storey, home-cum-shopfront remains <a href="https://www.bresicwhitney.com.au/buy/27-alexander-street-paddington-11889" target="_blank">listed through BresicWhitney agent Darren Pearce</a> by the host of the ABC's Restoration Australia who bought it in early 2008 for $900,000 from publican Peter Wadsworth, after she'd returned from a decade in New York as a homewares stylist.
This article was first published in the Saturday Daily Telegraph.
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Sibella Court's Paddo price woes 

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Home values in Sydney have shown incredible growth over the past three-and-a-half years, notes estate agent John McGrath in his latest Switzer blog. 
Sydney’s median home values (all properties combined) have risen by 48% since the growth cycle began in May/June 2012, latest figures from CoreLogic RP Data reveal.
By comparison, Melbourne is up 31.5% over the same timeframe, with Brisbane next at 15%.
Among the other capitals: Darwin 12.6%; Adelaide 10.9%; Perth 10.7%; Canberra 9.6%; and Hobart 6.3%.
On a national scale, it’s been a two-tier market led by the East Coast since 2012, he says.
But now things are slowing down.
"Sydney has cooled but I’m not concerned. What is really important to realise is that Sydney will not stop growing in value, it’s just going to settle and return to a normal long-term pace of incremental growth," says McGrath.
"Yes, I think it’s fair to say the boom in Sydney is probably over. Auction clearance rates have dipped from the 80% band mid-year to the 50% band now and that’s quite a drop. Of course, supply has increased over Spring but that alone doesn’t explain a 30% decline in clearances. The market is simply cooling down now and that’s a really good thing." 
After such a long run of growth, some consolidation might be expected. New price benchmarks have been set for all types of properties right across the city and it might take a while for those prices to be cemented in, he says.  
According to him, three major factors have slowed Sydney down: 
1. A tightening of lending criteria for investors has had a significant impact, as investors have been a driving force in this boom
2. Many investors who still meet lending criteria are now looking outside Sydney. When you get rapid capital growth, rental yields inevitably decline and that’s the case in Sydney, with houses yielding 3.2% and apartments 4.1%.  Brisbane offers the highest yields of the major capitals at 4.3% for houses and 5.3% for apartments – and more importantly, Brisbane has greater scope for imminent capital growth 
3. Real estate markets are cyclical. At some point in a growth cycle, every market will reach a peak and plateau. 
When markets begin to cool, it’s inevitable that there will be small drops in prices month-to-month and that’s what happened in Sydney in November. 
The median house price fell -1.5% and apartments -0.7%.
But there’s no need to be too concerned as this was expected as this is normal at the end of a boom, he says.
The important thing is to distinguish between the end of a boom and the end of a growth cycle. It’s the end of the boom, not the growth cycle, he concludes. 
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Sydney has cooled, but it will not stop growing in value in 2016: John McGrath

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The former Fire Station in Sydney's Fairfield has fetched $1.5 million at auction, $400,000 above the reserve. 
The <a href="https://www.realcommercial.com.au/property-offices-nsw-fairfield-501775746" target="_blank">3 William Street</a> property sits on a 955 square metre site and is zoned for mixed use, providing an opportunity for mixed use retail, commercial, education and/or residential developments in the future. 
“We had strong interest from local owners, property developers, owner-occupiers and opportunistic investors,” said selling agent Harry Bui of Colliers International.  
“The purchaser was a private developer who bought the property with plans to retain the front heritage building for a commercial investment and redevelop the balance of the site for a mixed use development in the near future."
Fire &amp; Rescue NSW recently relocated to their new premises on Fairfield Street, Fairfield East. Hence, the auction to dispose of the William Street asset.
The deal comes on the back of the Cabramatta Fire Station that sold earlier this year for $2.1 million.
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Fairfield Fire Station fetches $400,000 above reserve at auction

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The RBA has published a graph showing RMBS arrears by states.
The RBA assistant governor Guy Debelle suggests its shows that the current distribution of arrears are consistent with the variation in economic conditions across the states, though at the same time all arrears rates are relatively low in terms of credit risks.
"Of course, credit risk is not so much about the averages but the distributions," he noted.
"Having the loan level data enables an insight into the characteristics of the loans in the various tails of the distribution that warrant closer attention.
"It will also allow an assessment of the correlations between the various drivers of risk that may lead to credit deterioration."
Last month it was forecast delinquency and default rates for Australian residential mortgage backed securities (RMBS) and asset backed securities (ABS) will rise slightly from their current low levels in 2016, due to slower economic growth and a rise in unemployment, according to the report by Moody's Investor Service. 
The RBA graph was presented in his speech to the 28th Australasian Finance and Banking Conference on the liquidity regime that has been in operation in Australia.
With the caveat that the data reporting is still in its infancy, it's already apparent that there are many potential benefits coming from the understanding of the data he said.
The data covers around 2 million housing loans of the total of the approximately 6 million such loans on issue currently.
<a href="/images/2015/12/16/Screen%20Shot%202015-12-16%20at%2011.40.02%20AM.png" target="_blank">Click to enlarge</a>
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