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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John Symond, founder and executive chairman of Aussie Home Loans, says the RBA has kept the powder in the keg.
"They're holding fire and let's hope they don't have to drop further because we want signals to the economy going going forward, not backwards," he told 2GB Money News broadcaster Ross Greenwood.
"Remember, it's all very good to have low rates, but it's symptomatic of a sick economy so, we want rates to be steady, hold rates where they are, hopefully the economy improves and maybe in a year or 18 months we might see a slight tick up, but that's a long way away," he said.
On prices coming off the boil he said he was "thrilled."
"I've been hoping and praying for the past 12 months that prices will ease and they've started to ease and the market's settling down, it's now heading into a more healthy market.
"That's what we want.
"We don't want prices going skyrocket month after month, year after year because that inevitably causes problems. 
"I honestly believe we're heading into a more healthy market, which is good for everybody, quite steady as she goes.
"The market's now settling down... it's becoming a fair buyer's market, and a reasonable seller's market and that's the market we want."
On rates he anticipated interest rates to stay right where they are right through the year.
He noted that with Sydney, the financial centre of Australia, "it has a history of housing prices outstripping anywhere else in the country, including Melbourne."
Especially now given the Chinese who "are pushing the prices very strongly."
"There's no doubt about that but guess, it's affordability versus appreciation.
"In terms of history, appreciation of house prices Sydney, over time, always outstrips the other areas."
 
 
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j.ballantyne1990-6AQqhLzZaK

Aussie John Symond says Sydney's affordability issues relate to its appreciation status

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Listed Malaysian property developer UEM Sunrise Berhad is selling its serviced apartments at the La Trobe Street mixed-use development, Aurora Melbourne Central, for $120 million.
It has signed an agreement with Ascendas Hospitality Trust to sell the 252 serviced apartments on levels 10 to 32 of Aurora Melbourne Central along with common facilities for guests located on level nine and a restaurant on the ground floor.
Aurora Melbourne Central mixed-use development is UEM Sunrise’s first project in Australia with a gross development value (GDV) of $770 million. 
Construction has commenced, with the official ground-breaking ceremony held on September 21. Completion of Aurora Melbourne Central is scheduled for 2019.
The 92-storey development comprises more than 120,000 square metres of built-up area and includes 941 residential apartments, retail spaces, strata offices as well as the 252-room serviced apartments. It is the tallest building in Melbourne’s CBD.
Upon completion, the development will have direct access to Melbourne Central Railway Station and the Melbourne Central Shopping Centre across the road. The new CBD North station of Melbourne Metro will be located next to the project site.
“This is not UEM Sunrise’s first strategic collaboration with the Ascendas Group. We are collaborating on a 60:40 joint venture with Ascendas Group to develop an integrated eco-friendly 519-acre Nusajaya Tech Park in Iskandar Malaysia, and Phase 1 is scheduled to be completed next year,” said Anwar Syahrin Abdul Ajib, UEM Sunrise’s CEO and managing director.
Ascendas Hospitality invests, directly or indirectly, in a diversified portfolio of income-producing real estate used mainly for hospitality located across Asia, Australia and New Zealand. Its asset portfolio comprises 11 hotels with over 4,000 rooms across Australia, China, Japan and Singapore.
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Malaysian developer UEM Sunrise sell Melbourne project's serviced apartments for $120 million

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A one bedroom penthouse apartment is available in 906/39 Cooper Street Strathfield 
The <a href="https://www.realestate.com.au/property-apartment-nsw-strathfield-120942842" target="_blank">ultra-modern penthouse</a> has been given a price guide of $550,000 - $570,000 by listing agent Hannah Kim of Strathfield Partners.
The 61 sqm apartment has tiled living spaces and an entertainers balcony with CBD views.
The property is minutes away from Strathfield station, shops cafes &amp; schools.
The property last traded for $395,000 in 2009.
An apartment on level six in the same block sold in July for $570,000. 
The price guide for the rental of the property is $550-590 per week, a gross rental yield of roughly 5.26%.
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
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jrobinson-rf4aSBido9

One bedroom Strathfield penthouse hits the market

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The days of double-digit rental yields in Australia are gone. And it’s hard to see those times returning any day soon.
Up until about three years ago, Australians who were comfortable with risk, or perhaps oblivious to it, were buying in mining towns and resources-related regional centres, and commonly achieving initial gross rental returns of 10%, sometimes more.
But the same places are now likely to offer little better than 5%. Even though prices have fallen a lot in devastated mining centres, rents have fallen even more. Median rental yields, according to Domain, are now 4.8% in Newman, 5.8% in Port Hedland, 4.3% in Emerald and 3.1% in Moranbah. 
So where do you turn, now, for a better-than-average rental yield?
The best on offer that I can find are in Cairns in North Queensland. The median rental yields for apartments are generally 7% and above, more because prices tend to be low rather than because rents are high.
According to Domain figures, the median return for Cairns North, where over 200 apartments have sold in the past 12 months at a median price of $237,000, is 7.5%.
In downmarket Manoora, where 90 units have sold at a median price of $167,000, the median rental yield is 7.9%. And in Woree (median price $148,000), the median rental yield is 8.0%. That means a small unit selling for $150,000 and renting for $230 a week.
Houses around Cairns generally provide rental yields in the 5.5% to 6.0% range. 
It’s worth considering because Cairns presents a solid market at the moment - boosted by an improving economy, strong tourism and major spending on infrastructure. Some suburbs have recorded double-digit growth in median prices in the past 12 months.
The bottom line is that those Cairns yields are as you good as you will realistically find across Australia. There is nowhere I know about that offers double-digit yields anymore. And I mean genuine rental returns, not computer-generated statistical glitches.
If you read enough newspapers, magazines and online news services, you’re going to see lots of lists claiming that returns well above 10%, sometimes above 20%, are available.
Don’t believe these stories. They are statistical aberrations and credible median organisations wouldn’t publish them.
One of these lists published recently claimed there’s a place in Queensland where you can get rental yields of - wait for it - 58%. That’s so obviously absurd that it's amazing anyone published it, but print it they did.
Just pause for a moment and consider what’s being suggested here. A rental yield of 58%, apart from being an obvious error, means a property selling for $300,000 would fetch rent of $174,000 a year or $3,346 per week.
When I first saw it in an online real estate magazine, I thought it might be a typographical error. 
But no, I clicked on the town credited with this remarkable real estate achievement and there, sure enough, was a presentation of figures which showed how they arrived at this.
The town credited with a 58% median rental yield was Beaudesert, south of Brisbane and west of the Gold Coast.
Apparently, you can buy units in Beaudesert for $22,500. Yes, apartments for less than the price of a Jeep. And given that the median weekly rent for these remarkably cheap dwellings is $253 per week, rental yields are indeed 58.47% - according to the computer, at least, proving once again the validity of the old adage about “garbage in, garbage out”. 
Obviously someone has made a mistake. You can’t buy units for $22,500 in Beaudesert - or anywhere else in Australia. And, equally obviously, typical yields in the town are not 58.47%. 
But wouldn’t you think someone would take steps to correct these startling errors? Because they’re common. Mistakes of this kind are appearing weekly, if not daily, in real estate media.
In October I wrote about claims from the same source that you could commonly achieve 30% yields in Mission Beach – and other instances where it has been claimed that prices in tiny towns have risen 40-50% in 12 months.
The latest presentation of the top five locations in each state with the highest yields was a litany of these types of mistakes. It’s claimed there’s a location in NSW where typical yields are 28%, a tiny town in South Australia where you can commonly achieve 16% and a coastal hamlet in Tasmania where 15% returns are common. 
Many of the locations listed as having outstanding rental yields are basket-case markets with vacancies above 20%.
Others are coastal towns where high rents are achieved in peak holiday times and the computer assumes those peak rents are achieved 52 weeks of the year (when, in reality, the properties are vacant for much of the year), hence the ridiculously high yield figure.
If you choose to believe these figures, you’ll welcome to head off to Beaudesert, Mission Beach or wherever and see if you can find a property where the rental yield is even as high as 6%.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
 
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
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terryryder-YECXbqmri2

Days of double-digit rental yields in Australia are gone: Terry Ryder

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As the Sydney real estate markets start drawing the curtains on what has been a highly entertaining 2015 year it’s interesting to note some are framing 2016 as the recession year. 
However before we start nailing that coffin we need to look at what possibly may cause a recession and then look for what may avert a recession. Naturally there are many that opt for the let’s wait and see option although I’m of the opinion that we won’t see a technical recession.
Yes in some areas property prices are falling and in many other areas property prices are still performing well. Just last week we set (nearly doubled) the all-time record price for a Cammeray waterfront.  This week a developer released Chatswood Place, a $300 million boutique style development, and in just three hours set a new suburb record as well as securing $160 million in off the plan sales. This is the very same investment market which many were believing was well and truly finished.
Last week the Australian Bureau of Statistics (ABS) revealed that business investment spending in the September quarter had fallen 9.2 %. This quarterly result was the worst in the 28 year history of the survey of business investment. The ABS also released the GDP growth which identified growth of 0.9 % thanks to the highest exports in 15 years, an increase in consumer spending and of course the much publicised housing boom more particularly in apartment construction.
We also need to note that Treasury has cut the nation’s potential economic growth rate to 2.75 % down from 3.25 %. This follows three consecutive years of below – trend economic growth where the elephant in the room is the decline in mining.
Now for that beaming light at the end of this tunnel of misery – enter the very cashed – up NSW government. Unlike the vast majority of state and territory governments NSW has an overflow of coin and it’s all going into the biggest infrastructure spend in the state’s history. Over the next four years the NSW government has allocated a staggering $70 billion infrastructure spend which is unprecedented. This in itself will singularly underpin the Sydney housing market given nothing stimulates the markets and consumer confidence like a massive infrastructure spend.
The breakdown is $38 billion to be spent on new transport projects which will also include the second harbour tunnel, North West rail link, South East Light rail, Sydney CBD and WestConnex. The Transgrid lease which brought in a record $10,258 billion is still to be allocated although it has been confirmed that these monies will also be directed into new infrastructure projects.
Following the federal government crackdown on illegal foreign real estate acquisitions in Australia the Significant and Premium Investor Visas have been running at full – speed. It will be very interesting to see the next set of figures and whether there has been a significant spike in applications since the crackdown. The low Australian dollar is also enticing many offshore purchasers and expats and this is now a very strong emerging market within the Sydney real estate markets.
So when one takes the time to actually look at what is going on I find myself (as do many others) not too worried about this so called recession. The last recession was 25 years ago and they aren’t very nice but when you have a state government pouring $70 billion into the NSW economy it would appear that NSW has more Zoom than Gloom. 
To further highlight this the NSW government just appointed Lucy Turnbull (the PM’s wife) as chair of the NSW government’s newly created Greater Sydney Commission. The sole purpose of the Greater Sydney Commission is to stop the infighting at local councils and to speed up developments across the city although I still see councils incompetency as an on – going hurdle.  I’m reliably informed that the premier will hand his greater Sydney Commission special powers and the councils will not like what’s in-store.
Of course not everybody will be convinced but then again, that all adds to the theatre of debate. When the 2016 property markets kick off I’m of the view that the areas within a 15 kilometre radius of the CBD will do very well. But expect more than a few to tell a different tale.
MOSMAN – 2088
• Number of houses on the market this time last year – 103
• Number of houses on the market last week – 65
• Number of houses on the market this week – 55
• Number of apartments on the market this time last year – 66
• Number of apartments on the market last week – 60
• Number of apartments on the market this week – 51
CREMORNE – 2090
• Number of houses on the market this time last year – 13
• Number of houses on the market last week – 15
• Number of houses on the market this week – 11
• Number of apartments on the market this time last year – 25
• Number of apartments on the market last week – 18
• Number of apartments on the market this week – 17
NEUTRAL BAY – 2089
• Number of houses on the market this time last year – 10
• Number of houses on the market last week – 8
• Number of houses on the market this week – 8
• Number of apartments on the market this time last year– 42
• Number of apartments on the market last week – 33
*Number of apartments on the market this week – 30
 
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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Some framing 2016 as the recession year: Robert Simeon

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Investors in the upper Gold Coast are very active for nearly a year, according to valuation firm Herron Todd White.
The latest month in review suggest a majority of investors are Sydney buyers and to a lesser extent Melbourne buyers for established housing. 
"The new housing is targeted by a mix of interstate buyers from all over Australia and Chinese buyers."
The report notes that established housing investors are mostly active in Eagleby and Beenleigh areas with price points around $240,000 achieving circa $320 per week rent or 6.93% yield. 
It also adds that new housing investors are mostly active in Pimpama and Ormeau where the price point for a typical 4-bedroom, 2-bathroom, 2-car house on a 400 square metre lot is between $460,000 and $480,000 achieving circa $420 per week or 4.55% yield. 
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"Investors in the upper north area are far less active in the townhouse and duplex unit market, accounting for only a very small percentage of sales. 
"We are of the opinion that investors prefer housing due to historically stronger capital growth compared to units. 
"We believe that the investor activity is sustainable in the medium term with interest rates currently at record lows. 
"Sydney investors can’t stay away in particular with the median house price in Sydney over $1 million. 
"This shows that these investors can buy four houses for the price of one Sydney house. 
"Whenever banks tighten lending policy it will have an impact on the market, but how much impact is a case of let’s wait and see."
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Sydney investors dominate Beenleigh purchasing four houses for the price of one: HTW 

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The entrepreneurial Double Bay dental innovator David Penn and his wife, Linda, secured $1,452,500 when their Altair, Rushcutters Bay investment apartment sold last month.
Despite the Greg Natale decor styling, it was otherwise empty. 
The only thing in all the cupboards in the 8th floor apartment were some Hut and Manor soy wax candles which<a href="https://innercity.ljhooker.com.au/367HFP/809_3-kings-cross-road-darlinghurst" target="_blank"> LJ Hooker agent Dominic Kunerman</a> lit during his open for inspections.
It was bought in 2012 for $1,025,000 in partnership with their son Joshua who was a no-show at the laboured onsite auction in the Engelen Moore-designed complex.
The 117 sqm Walker Corp apartment first sold in 1999 at $651,000. 
This article was first published in the Saturday Daily Telegraph.
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Altair apartment sells at $1,452,500

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The number of national residential listings fell 0.4% from October to November, according to new figures from SQM Research.
Listing numbers in Adelaide, Melbourne and Canberra had a monthly rise with falls recorded for Darwin, Sydney, Perth and Brisbane.
SQM Research managing director Louis Christopher said Sydney residential property listings weighed down the national figure this month. 
<a href="/images/2015/12/3/Screen%20Shot%202015-12-03%20at%209.20.54%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/3/Screen%20Shot%202015-12-03%20at%209.20.54%20AM.png" alt="">
"It is a little abnormal to record falls in listings during November as the annual spring selling season reaches a peak during this month. Nevertheless we were expecting a pullback of sorts due to the massive surge in listings recorded in October," he said.
"Overall I think it is a mixed property market and nothing released today has changed my view on this.
"Sydney experienced a yearly rise of 11.8%, with residential property listings climbing from 25,577 to 28,597. Darwin also experienced excessive yearly growth with sale listings up 11.4% based on a total 2,042 listings. These figures indicate that the number of property sellers in both residential markets has increased."
<a href="/images/2015/12/2/Screen%20Shot%202015-12-03%20at%209.11.16%20AM.png" target="_blank">Click to enlarge</a>
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The October listings surge backs off in November: SQM Research

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Coochiemudlo Island - and the 4184 postcode - was identified as one of the most affordable rental suburbs closest to the Brisbane's central business district, according to Australia's first rental affordability index.
The index is a joint project between peak housing advocate National Shelter, Community Sector Banking and SGS Economics &amp; Planning.
Property Observer went looking for properties in the suburb and came up with these listings: 
1. A three-bedroom house at <a href="https://www.domain.com.au/3-eprapah-coochiemudlo-island-qld-4184-10019316" target="_blank">3 Eprapah, COOCHIEMUDLO ISLAND 4184</a> (below) is up for rent for $400 per week. The property last traded for $375,000 in 2014 reflecting a gross rental yield of around 5.5%.
<img src="/images/2015/12/2/c1.jpg" alt="" width="544" height="356">
 
2. Another three-bedroom house at <a href="https://www.realestateview.com.au/rental-properties/1-oakes-street-coochiemudlo-island/Property-Details-rent-residential-9808943" target="_blank">1 Oakes Street, COOCHIEMUDLO ISLAND 4184</a> (below) has a rental of $370 per week.
<img src="/images/2015/12/2/c2.jpg" alt="" width="509" height="339">
3. A two-bedroom house at <a href="https://www.realestateview.com.au/rental-properties/11-carefree-street-coochiemudlo-island/Property-Details-rent-residential-9551896" target="_blank">11 Carefree Street, COOCHIEMUDLO ISLAND 4184</a> has a rental of $350 per week.
The median rent for houses in Coochiemudlo Island is $310 per week with a gross yield of 5.2%, according to data on <a href="/news">www.propertyvalue.com.au</a>. Even though the median rent is well below the national average of $395, the yield is higher than the national average. 
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Coochiemudlo Island rental affordability: What landlords are asking from tenants

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Valuation firm Herron Todd White has suggested that sales relating specifically to investors have remained steady throughout 2015 for the Fraser Coast in their recent month in review report.
"Most investors target property in the sub $350,000 range, with only minimal activity above this price point.
"Rents have been gradually rising over the past two years, with some property achieving gross yields above 6%."
The HTW November report also states that many agents now comment that they simply do not have enough housing stock to cater for the ongoing demand, with a mix of interstate, intrastate and local buyers competing for existing property.
"Hervey Bay currently has at least five separate estates being developed with the next stage likely to cater for house and land packages under $400,000.
"Going forward, demand is expected to remain constant for investors as these new estates move to completion.
"Growth in rental return is not expected to continue however and is likely to stabilise in the short term, with affordability being a major factor."
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