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>
</main>

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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Sydney's greenest home - winning some 13 awards on its 2013 construction - has been snapped up before it's scheduled weekend auction.
Builder Chris Knierim's two storey eco-house in Forest Lodge came with $1.9 million plus price hopes.
Over 100 groups inspected the pricey bespoke offering, which sold at an undisclosed price, through Jennifer Aaron of Jennifer Aaron Real Estate.
The recent marketing campaign had triggered 11,000 plus visits on realestate.com.au.
Designed to minimise its carbon footprint, it was Knierim's $900,000 construction dream to build a sustainable three bedroom house for his family.
Another inner west project is also underway by architect and builder, Oliver Steele in Newtown with three garden-topped eco-terraces on Angel Street.  
Being green might prove costly in the inner suburbs, but the traditional alternate eco home can still come cheap for tree changers with a mud brick home in a 200 acre land sharing community in the Hunter Valley region currently listed at $180,000 plus.
After working on eco-friendly building projects in Europe, Chris Knierim knew to insulate the ground underneath the slab and have solar panels on its green garden rooftop.
There's eight metre tall vertical garden walls in between, which impressed the Sydney Lord Mayor Clover Moore when she opened the house.
It comes with a 3500 litre underground water tank and extensive use of recycled materials.
The sustainable Foss Street home - just 5 metres or so wide in a narrow gap in a row of heritage-listed terraces - featured on the Grand Designs Australia television series.
The awards included the 2014 HIA Green Smart Australian Home of the Year and the Australian Sustainable Project of the Year.
Chris and wife Belinda paid $519,000 in 2007 for the small car park block next door to their then house. 
"Crowned by a green roof, it presents streamlined minimalism with state-of-the-art finishes and a focus on optimal light and airflow," selling agent Jennifer Aaron said.
Chris was happy with the home and said it performed better than expected.
"“It just functions really well."
The founder of design firm Code Green admitted that despite the fact the eco lodge was a dream home for his wife and two sons, it was time to move on.
“I’ve just got a good business opportunity, so it’s time to let it go", he said.
"Being a builder and designer I’m always looking at doing other things,” he said.
They all celebrated the sale at the sustainable fish cafe, Annandale's Fish &amp; Co.
This article was first published in the Sydney Daily Telegraph.
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jchancellor-FAypfDUnLy

Sydney's greenest terrace house sold at $1.9 million plus

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Close to 5,800 homes will have been auctioned this month in Melbourne in just four Super Saturday weekends, making it the biggest auction month in Victoria’s history.
The previous record was set in November last year, when more than 5,300 homes went to auction.
Capping off the month will be this final weekend, when 1,810 homes will go under the hammer, including 1,735 on the Saturday, and 75 on Sunday. This would break the previous record of 1,740 weekend auctions for the week ending October 26, 2014.
In all, 1,850 homes will go to auction this week, capping off a strong spring selling season.
REIV CEO Enzo Raimondo said it has been a remarkable year for the state’s property sector, particularly in Melbourne, in a year in which:
More homes have gone to auction than ever before: 37,700 across the state in the year to 23 November, 5% above the same period last year;
Auctions in outer suburbs, previously the domain of private sales, continued to grow, following a trend that started in mid-­2014;
The 2015 auction capital was Reservoir for the third successive year with 624 auctions;
Of the top 10 auction suburbs this year, Glen Iris recorded the highest clearance rate at 85.5%;
Croydon South, with 29 auctions, had a 100% rate.
“Victoria’s buoyant property market has recorded solid price growth over the past year with buyer demand and record low interest rates encouraging more vendors to sell their homes at auction,” Raimondo said.
“High auction numbers are creating unparalleled opportunities for buyers, with multiple auctions held in more than 300 Melbourne suburbs in November.
“Melbourne property buyers are currently spoiled for choice with high auction numbers forecast until mid-­December.”
Auction preview for week ending November 29
<table border="0" cellspacing="1" cellpadding="1"><tbody>
<tr>
<td>Last weekend</td>
<td>1,350 auctions (exc. 31 postponed and 45 withdrawn)</td>
</tr>
<tr>
<td>This weekend</td>
<td>1,850 auctions</td>
</tr>
<tr>
<td>This weekend last year   </td>
<td>66% from 1,399 auctions</td>
</tr>
</tbody></table>
The REIV expects about 1,850 auctions in 367 suburbs this week. The top auction locations this weekend are Mount Waverley (30 auctions), St Kilda (28 auctions) and Reservoir (27 auctions).
The 1,850 auctions scheduled this week is expected to deliver a national record for auctions. 
CoreLogic RP Data have advised more than 1000 properties are scheduled to go under the hammer across Sydney this weekend.
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j.ballantyne1990-6AQqhLzZaK

Melbourne caps off big November 2015 auction month with record Super Saturday

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A new report by LF Economics compares Australia's housing market to a Ponzi scheme, building on the theme of unaffordability in its previous reports. 
Lindsay David's latest report talks about how many first home buyers (FHBs) depend on their parents for financial assistance for a deposit and then use their homes as collateral to secure mortgages. While this fast-tracks their home ownership, the difficult situation of paying off ever-increasing debt exposes many Baby Boomer parents to a potentially dangerous situation should their children default.
The report says "in reality, many parents (the Baby Boomer cohort) are asset-rich but income-poor". It claims few parents have enough savings and other liquid assets on hand to meet their legal obligations without selling their home if their children default.
It says this loan guarantee strategy in a rising housing market for securing ever-larger amounts of debt is essentially pyramid or Ponzi finance. 
Founded by David and Philip Soos, LF Economics had previously argued that Australia’s housing market was one of the most overleveraged and unaffordable in the Western world.
It says Australia’s long-term housing price index, adjusted for inflation and quality, demonstrates the phenomenal boom in prices beginning in 1996 (a turning point in residential dwelling markets globally).
What distinguishes this boom from all others is its relative size and length of time without incurring a substantial correction. Between 1996 and 2015, real housing prices have risen by 141%. This surge in prices is why the housing market is so unaffordable, it states.
The report is also critical of government and industry claims that declining nominal mortgage interest rates since the peak in 1990 to record lows today has increased affordability, hence assisting FHBs. But this does not account for the ever-rising deposit needed for entry into the housing market given record-high price to income ratios and the hefty cost of lenders mortgage insurance, it adds. The current low interest rate also makes it difficult to save for a deposit.
It says the data shows Australia is in the midst of the largest housing bubble on record, both in terms of prices to rents and household incomes but that government and regulators have been denying the existence of a bubble.
"The price to income ratio (P/I) is as an indicator of residential property valuation, also referred to as the median multiple," says the report.
"When real housing prices began to lift off in 1996, the P/I ratio was around 4 for both houses and units, indicating superior affordability.
"A new peak was established in 2004 and remained steady for the next decade, with a ratio of 7 for houses and 6 for units.
"As the latest booms in Sydney and Melbourne have caused nationwide prices to rise further, the P/I ratio for houses and units have reached a new peak of 8.3 and 6.4 respectively in 2015Q2.
"It is clear a significant increase occurred from 1996 onwards as household incomes have not kept pace with the growth in dwelling prices. The P/I ratio certainly suggests Australia’s residential housing market is unaffordable."
In conclusion, it says the financial services industry does not heed and has no incentive to consider the financial livelihoods of FHBs after purchase. Regulators have ignored the Ponzi lending practices by lenders, believing the RBA will have the adequate ability to bail them out at taxpayers’ expense the day this classic Ponzi lending scheme breaks down.
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Parental guidance, property and ponzi: LF Economics

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It never ceases to amaze me just how little some “property experts” actually know about real estate machinations to the point they constantly make fools of themselves with dumb commentaries.
For example, one commentator earlier this week declared on Twitter “Auction clearance rates crumbling Melbourne 66.3% 2yr low Sydney another crash just 57.5% 3yr low” – well, that may be true as west of Sydney is performing badly. I then reminded him that I thought he is the worst property commentator in Australia. Last week, Sydney’s lower north shore recorded a bullish 80.4 % clearance rate up from 76.6 % the previous week – of course this was not mentioned.
It is also worth mentioning just like clockwork as soon as we hit the Melbourne Cup each year the market starts easing off which is exactly what we are presently witnessing – buyers are tired. Having said that, we will see property sales recorded right up to Christmas and what we are presently witnessing is no different to last year, the year before that and so on.
The common denominator is that we are seeing fewer properties on the market. In 2013 Mosman had 100 or more houses on the market in a given week on 33 occasions, in 2014 Mosman could only break the 100 mark on just 11 occasions. In 2015 it never made it to 100 with the highest being on March 12 with 84 and the lowest on July 2 with 42.
There are points that we need to make about many Sydney markets. Firstly, with Chinese buyers we have only just seen the “tip of the iceberg” where we expect in 2016 and beyond that they will be the main driving force behind Sydney property prices. We can also expect that the Foreign Investment Review Board (FIRB) and Australian Taxation Office (ATO) will be pushed to the limit with overseas buying applications.
Six weeks ago I suggested that we were hearing that many investors both local and overseas were getting very nervous and now we hear that one in three off – the – plan buyers are in trouble. This is a major problem for Sydney’s newly created “investor market” as if these properties were to flood the markets prices would capitulate.
It will be most interesting going into 2016 to watch what strategy developers, and more particularly the banks funding these developments, decide to adopt. Will this see the Australian Prudential Regulation Authority (APRA) forced into relaxing the newly introduced LVR’s? The off – the – plan feeding frenzy saw entire developments sold in a minimum of hours. Well I predict it will take months and months to see these properties find new owners. Will the developers offload apartments to parties that are already owners at discounted prices? That would be a sensible option to avoiding adverse publicity.
How many properties will the ATO force back onto the market in the form of Divestment Orders for parties that acquired real estate illegally? If this is as big as some believe (myself included) the Sydney property markets could not sustain these two forces combined – Divestment Orders and Off – The – Plan purchases.
We do need to be clear here in that the newly created “investors’ market” should not be confused with the homeowner markets – although some areas that contain these newly created high density developments will naturally affect the homeowner markets.
The absolute no-brainer here is when the Rudd government moved the ratio for overseas buyers buying off – the – plan from 50 % to 100 % in December 2008. This needs to be reduced back to 50 % as a matter of urgency.
Strange isn’t it how some want to bellow about clearance rates and others want to look at our property market machinations in greater detail. I know what I find the more interesting to discuss.
Historically when property markets start correcting then fewer properties go to public auction. Makes one ponder what some commentators would then be left to bellow about?
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 114
• Number of houses on the market last week – 74
• Number of houses on the market this week – 65
• Number of apartments on the market this time last year – 76
• Number of apartments on the market last week – 71
• Number of apartments on the market this week – 60
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year – 14
• Number of houses on the market last week – 13
• Number of houses on the market this week – 15
• Number of apartments on the market this time last year – 31
• Number of apartments on the market last week – 16
• Number of apartments on the market this week – 18
<h5>NEUTRAL BAY – 2089</h5>
• 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 – 36
*Number of apartments on the market this week – 33
 
 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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robertsimeon-hRNTwJyXkQ

Why off the plan can be a deadly market: Robert Simeon

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 <img src="/images/2015/11/26/NEW_RAMS_LOGO.jpg" alt="">
The process of applying for a home loan will flow more smoothly if you have your paperwork in order from the start.
The lender will need proof of your identity such as a passport or driver’s licence and birth certificate or citizenship certificate. You may also have to supply documents such as a utility bill or recent notice issued by the Australian Tax Office.
You’ll be asked for details about your income and financial position as this will determine how much you can borrow. 
INCOME
If you’re paid a salary or wage, proof of income might include:
<ul>
<li>Recent pay slips</li>
<li>Your employment contract or a letter from your employerconfirming your salary and how long you’ve worked there</li>
<li>A bank statement or transaction history showing your salary going into a bank account</li>
<li>A tax return prepared by a tax agent</li>
<li>An ATO Notice of Assessment</li>
</ul>
If you’re self-employed, you may need:
<ul>
<li>Recent personal and business income tax returns and ATO assessment notices</li>
<li>About a year’s worth of Business Activity Statements </li>
<li>Financial statements prepared by an accountant</li>
</ul>
FINANCIAL POSITION
You may be asked to demonstrate proof of your savings by presenting bank account transaction summaries. 
If someone has given you money towards your purchase you may need them to supply a letter saying the funds are an unconditional gift or outlining the repayment terms and conditions if it’s a personal loan.
The lender may ask for details of any other savings or assets you have, such as term deposits, share investments, property or motor vehicles.
Also, be prepared to supply statements for credit or store cards and any other loans you may have.
INSURANCE
If you have home and/or contents insurance, or any life insurance policies you may need to supply these details as well. 
THE PROPERTY
It’s important to have finance pre-approved before the exchange of contracts. When it comes to completing the formal home loan application, you’ll need to supply the lender with the contract of sale.
If you’re building, you’ll need a fixed price building contract and council approved building plans or specifications, or a building permit.
Quick tip: It's important to be open and honest about your finances from the start as this will avoid disappointment down the track, so choose a broker or loan adviser who you feel comfortable forming a relationship with as you will be sharing personal information with them.
 
TO FIND OUT HOW RAMS CAN HELP EASE YOU THROUGH THE PROCESS, GET IN TOUCH WITH YOUR LOCAL RAMS HOME LOAN EXPERT OR DROP IN FOR YOUR <a href="https://ad.doubleclick.net/ddm/clk/297891154;125002177;g" target="_blank">FREE FIRST HOME BUYERS’ GUIDE</a>.
For more great property advice and tips on buying your first home from RAMS subscribe to <a href="https://ad.doubleclick.net/ddm/clk/297886984;125002178;w" target="_blank">The Great Australian Dream property series</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.
Disclaimer: Information in this material is general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.
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Organising loan paperwork 

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GUEST OBSERVER
Last week Victoria announced a new plan to manage bushfire risk by conducting prescribed burns.
Previously, Victoria had adopted a plan to burn 5% of the state’s area each year to manage bushfire risk. The 5% target has been criticised by scientists for damaging the environment without necessarily reducing risk. But, following a review, the state is shifting to a new “risk-based” strategy.
So, how does the new strategy work and what can we learn from it?
<h2>Targets: a blunt instrument</h2>
Immediately following the devastating Black Saturday bushfires there were many questions about whether the government could have done more to either prevent such an event or at least reduce the impact of the fires.
A Royal Commission considered a range of submissions from government, the public and scientific committees. Following careful consideration of the information, the commission handed down 67 recommendations. Recommendation 56 was to adopt a long-term program of prescribed burning with a rolling average of 5% per year on public land.
A range of research has since been conducted examining the role of prescribed burning in reducing the risk to people and property as well as the impact on biodiversity.
The key message is that a hectare target is not the most cost efficient way of reducing risk to people and property, and that such an approach can have negative impacts on biodiversity.
Therefore, an alternate approach is needed to achieve the two objectives in the Code of Practice for Bushfire on Public Land: To minimise the impact of major bushfires on human life, communities, essential and community infrastructure, industries, the economy and the environment. Human life will be afforded priority over all other considerations. To maintain or improve the resilience of natural ecosystems and their ability to deliver services such as biodiversity, water, carbon storage and forest products.
<h2>The risk of bushfires</h2>
The new risk-based approach means that the state government will be able to focus their efforts in strategic areas, such as places close to houses and infrastructure, or areas where due to landforms there is a high chance of fires starting or spreading quickly.
Reducing fuels in these areas can result in the greatest reduction in risk from wildfires to the assets, but have a much higher risk of damage if the prescribed burn escapes such as we have seen recently at Lancefield.
Risk to people and property will be measured through fire behaviour simulation using the PHOENIX RapidFire program. This allows the state to compare the risk of losing houses between maximum fuel load (and maximum risk) and fuel loads after burnoffs.
The difference between the two is known as “residual risk” and is expressed as a percentage of the maximum risk. Victoria has set a target of 70% residual risk which means that burnoffs will remove at least 30% of the maximum risk. While there may be debate about the actual value, adopting a risk-based metric represents a more outcome focused approach to developing fire management strategies.
Residual risk methods currently consider only the impacts on people and property, however equivalent methods are being developed for the environment.
As a researcher in the field, it would be remiss of me not to say that there is great scope for improving both the underlying fire behaviour model and the methods of calculating risk. There is a big difference between developing a model in the lab and applying it to public safety. In time, new methods will be developed and Victoria will need to consider whether these represent improvements over their current system before they are adopted.
<h2>Doesn’t remove risk</h2>
The new plan advocates a reduction in risk, but doesn’t entirely remove it. This is simply not possible.
Black Saturday fires could occur again in the future under either a hectares or a risk reduction approach to fuel treatment as these fires are driven primarily by catastrophic fire weather.
What is important to note is that a risk reduction approach aims to reduce the impact of such fires so that we hopefully do not see the same devastating loss of life and property.
Fire management on private land and the preparedness of communities for wildfire will remain vital. Communities in at-risk areas need to be actively involved in fire management decision making and preparedness. Some communities may elect to live with the risk while others may actively be involved in reducing risk. Regardless of the decision, it is important that all parties understand the risk they are exposed to and take actions accordingly.
Overall, Victoria’s new plan is a major step forward for fire management in the state and Australia. Explicitly adopting risk as a measure of success is a brave and positive step by the Victorian government. The success of the new policy will be assessed in time, but in my opinion, it will make fire management decisions more transparent.
Such transparency will allow for better community involvement in the planning and application of fire management. In time, the inclusion of other asset types in the estimation of risk will complicate the process, but also allow for better assessments of the extent to which both objectives for fire management can be met.
 
Trent Penman is lecturer, Bushfire Behaviour and Management, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/trent-penman-197032" target="_blank">here</a>.
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Saving homes, saving wildlife: Victoria ditches burnoff targets

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<div>Total construction work done in Australia has declined by 3.7% over the past year in seasonally adjusted terms. Let's take a look in two short parts at what this actually means.</div>
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<div>
Part 1 - Total construction 
</div>
<div>Total construction work done in the third quarter of 2015 declined by 3.7% to $49 billion on a seasonally adjusted basis. </div>
<div> </div>
<div>Despite a lift in residential building work done (+2.0%), there was a decline in non-residential building (-1.9%), and as widely expected engineering construction fell sharply (-7.3%) to be -11.7% lower over the year. The green shaded area which records construction work done in chain volume measures terms shows that the unwinding of the resources construction boom has a way to run yet. </div>
<div> </div>
<div>Quarterly engineering construction work done has declined from a peak of $34 billion to around $25 billion, but given the weakness in commodity prices - and given that in the same quarter a decade ago activity was just $13 billion - the decline surely has a long way to go.</div>
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<div><a href="/images/2015/11/26/A1.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/11/26/A1.jpg" alt=""></div>
<div> </div>
<div>
<div>The decline in engineering construction this quarter was driven by an overdue reversal in Western Australia, and to a lesser extent a decline in Queensland, as mega-projects begin to wind down. </div>
<div> </div>
<div>Activity in the Northern Territory continues to track at a historically exceptionally high level of $2 billion, accounted for primarily by the massive Ichthys LNG project.</div>
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<div><a href="/images/2015/11/26/A2.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/11/26/A2.jpg" alt=""></div>
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<div>While non-residential building and major renovations have contributed little of significance to the rebalancing of the economy, new house building and "other residential" building (apartments, units, townhouses) have effectively done everything that could have been expected of them in response to low interest rates.</div>
<div> </div>
<div>Total building work done of $24 billion represents a solid 6.4 per cent increase over the year, with no thanks to the non-residential sector.</div>
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<div><a href="/images/2015/11/26/A3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/26/A3.jpg" alt=""></div>
<div> </div>
<div>
<div>These high level numbers should present an idea of some of the challenges facing the economy given that housing starts are projected to decline from pretty much now, while the decline in engineering construction may only be half way done. </div>
<div> </div>
<div>Even now I'm still not sure anyone really has a satisfactory answer for what is going to fill this gaping hole while commodity exports ramp up. Given the expansion of Australia's population the obvious answers should come under the heading of "infrastructure" but if there's a coherent plan for that being discussed anywhere I haven't heard of it.</div>
<div> </div>
<div>Part 2 - Building work by state</div>
<div> </div>
<div>Victoria has been the king of building work through this cycle, with New South Wales following in second place, these states being home to the two capital cities with the strongest dwelling price gains. Indeed, Melbourne is a fine illustration of why it is important for market analysts to pay close heed to both demand and supply factors when forming their views. The Victorian capital has been building both houses and units like billy-o since 2010 - the source of a thousand crash predictions - yet vacancies and stock on market are both falling, and the market seems to be gathering momentum again.</div>
<div> </div>
<div><a href="/images/2015/11/26/A4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/26/A4.jpg" alt=""></div>
<div> </div>
<div>While there has been a reasonable response from the house building sector since 2012, approvals data shows that this market is running out of puff for the cycle, and has probably all but peaked already.</div>
<div> </div>
<div><a href="/images/2015/11/26/A5.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/26/A5.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
On the other hand the "other residential" sector continues to surge to record heights (this has been visible in the largest cities to anyone with a working pair of eyes...always knew those gauges were dodgy!), the new high rise building boom being the defining dynamic of this market cycle. Building work in this sector is at historical highs in Victoria, New South Wales, Queensland, and Western Australia, with over-building of high rise apartments evident in parts of Brisbane and Melbourne.
</div>
<div> </div>
<div><a href="/images/2015/11/26/A6.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/26/A6.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>If you've been following this blog for the last couple of years, you will appreciate that the systemic risks in the housing market are obviously apparent and buried within this final chart. Would-be market shorters should dig deeper here.</div>
<div> </div>
<div>There have long been indicators of overbuilding in the high rise markets of inner city Melbourne and Brisbane, with a high proportion of new build sales being made offshore, especially to China.</div>
<div> </div>
<div>The storm clouds were gathering for off-the-plan buyers well before APRA's intervention, but recent tightening measures to lending procedures could well be the factor which nails on the correction for this sector. </div>
<div> </div>
<div>How many buyers who put down trifling holding deposits will fail to settle if lenders demand a 20 per cent deposit prior to completion? Perhaps up to a third could be in trouble, and will be juggling personal finances as we speak. </div>
<div> </div>
<div>Could get messy. </div>
<div> </div>
<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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pwargent-M4siyDbqQY

Construction trends (off-the-plan mess) Pete Wargent

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An award winning architects Jackson Clements Burrows-designed home has sold in Richmond.
The early 2000s design maintained the traditional Victorian aesthetics and contrasted them with contemporary design.
The property sold for $4.32 million at auction after selling agents Andrew Macmillan and Jodie McCarthy of Jellis Craig Real Estate.
They had initial hopes of over $3 million. It last traded at $398,500 in 1998 when bought by the vendors whose son is the architect Jon Clements.
Four bidders took the weatherboard property onto the market at $3.5 million.
The modern four bedroom, three bathroom home at <a href="https://www.realestateview.com.au/Real-Estate/38-richmond-terrace-richmond/Property-Details-sold-residential-9705048" target="_blank">38 Richmond Terrace</a> includes a service lift, a library and a home office.
The living and dining areas are surrounded by landscaped outdoor gardens with ample dining areas on the 547 sqm block.
The property features a rooftop terrace with 360 degree views of the streetscape and the entire city skyline.
One of Richmond’s largest residential properties, Araluen, at 207 Lennox Street, hold the suburb record having recently sold for $5.13 million.
Araluen last sold in 1958 when bought by the Ballerini family. <a href="https://www.realestateview.com.au/Real-Estate/207-lennox-street-richmond/Property-Details-sold-residential-8634864" target="_blank">The five bedroom 1856 home</a> had been listed through Abercromby's agents Jock Langley and Hugh Hardy. 
It is one of Richmond’s earliest homes sitting on a substantial 1478 square metres on the corner of Goodwood Street, about a kilometre from the CBD.
Title Tattle gleans it has been bought by Scott and Julia McKay, descendants of the industrialist inventor of the Sunshine Harvester.
The comedic radio broadcaster Hamish Blake and wife Zoe Foster Blake, the author wife, had held the previous record $4.25 million in Richmond for a home (below) featured on <a href="https://www.propertyobserver.com.au/https://www.completehome.com.au/articles/grand-designs-australia-richmond-inner-city-house/36365" target="_blank">Grand Designs Australia in 2013</a>. 
The three-bedroom, four-bathroom Richmond house was designed by neilarchitecture for Darren and Ruth Rogers.
<img class="js-first-image" src="https://b.domainstatic.com.au/w800-h534-8733637_1_pi_150319_100547" alt="79a rowena parade richmond VIC 3121">
They built the home on a block bought in 2009 for $920,000 with the works cost estimated at $3.3 million.
 
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Richmond Jackson Clements Burrows-designed home $4.32 million sale

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Mount Druitt - and the 2770 postcode - was identified as one of the most affordable rental suburbs closest to the Sydney 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 select properties for rent in Sydney's Mount Druitt and came up with a range. Here's the highest, the lowest and a couple in-between:
1. A four-bedroom duplex at <a href="https://www.realestateview.com.au/rental-properties/20a-druitt-street-mount-druitt/Property-Details-rent-residential-9781276" target="_blank">20A Druitt Street, MOUNT DRUITT 2770</a> (above) available for $550 a week tops the rentals. The property last traded for $360,000 in 2012.
2. A three-bedroom house on <a href="https://www.realestateview.com.au/rental-properties/15-anderson-avenue-blackett/Property-Details-rent-residential-9780114" target="_blank">15 Anderson Avenue, BLACKETT 2770</a> (below) is available for $380 a week. The house sold in March for $440,000 at a gross rental yield of 4.49%.
<img src="/images/2015/11/25/15-Anderson-Avenue-Blackett-NSW-2770-Real-Estate-photo-1-large-9780114.jpg" alt="" width="569" height="427">
3. A three-bedroom unit at <a href="https://www.realestateview.com.au/rental-properties/2-11-13-durham-street-mount-druitt/Property-Details-rent-residential-9776667" target="_blank">2/11-13 Durham Street, MOUNT DRUITT 2770</a> (below) tops the rentals for apartments at $420 a week. The unit sold for $398,000 in 2014 at a gross rental yield of 5.49%.
<img src="/images/2015/11/25/2-11-13-Durham-Street-Mount-Druitt-NSW-2770-Real-Estate-photo-1-large-9776667.jpg" alt="" width="505" height="379">
4. The bottom one is a two-bedroom unit at <a href="https://www.realestateview.com.au/rental-properties/16-28-hythe-street-mount-druitt/Property-Details-rent-residential-9552616" target="_blank">16/28 Hythe Street, MOUNT DRUITT 2770</a>, (below) available for $280 a week. The property last traded in 2007 for $145,000.
<img src="/images/2015/11/25/16-28-Hythe-Street-Mount-Druitt-NSW-2770-Real-Estate-photo-1-large-9552616.jpg" alt="" width="416" height="312">
The median sale price of a house in Mount Druitt is $520,000 with a median gross yield of 3.9%, according to <a href="/news">www.propertyvalue.com.au</a>.
The median rental is $390 per week and it sits at 808 across NSW, according to the data.
For apartments, the median sale price is $331,000 with a median gross yield of 5.3 percent. 
The median rent is $340 per week, which is well below the national average of $390 per week.
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Mount Druitt rental affordability: What landlords are asking from tenants

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Australian companies could increase their workforce potential by utilising their real estate assets, says a JLL report.
The report, Australian CRE (Corporate Real Estate) Survey – Getting the Strategy Right, identifies opportunities for real estate teams working in corporate Australia to shift their focus from real estate metrics to business performance goals.
“It is being recognised that a big factor of business success is the workplace, which contributes to talent attraction and retention and productivity," said Tony Wyllie, JLL’s Australian head of corporate solutions integrated portfolio services.
“Our latest JLL survey has found that when it comes to the expectations that are placed on internal teams managing real estate in corporate companies, they continue to walk a tightrope between delivering cost savings for the business and creating value from real estate assets owned by the company.
“There’s a real opportunity for these real estate teams to shift the conversation from cost to business strategy, focusing on outcomes like productivity that will create real value for the organisation,” he said.
The survey found that 88% of respondents reported productivity gains are still behind achieved predominantly by cost savings, but workplace improvements also rated highly in the survey, with 72% of respondents saying productivity gains had been made this way.
JLL’s third report on Global Corporate Real Estate Trends tracks insights from 544 CRE executives in 36 countries. The report shares the views of real estate teams operating in corporate Australia.
The major shifts in CRE sentiment since the last JLL global survey in 2012 are:
<ul>
<li>The CRE mandate is stronger than 3 years ago – 26% rated it much stronger and 40% said it was stronger</li>
<li>
Over the past 2 years, the majority of CRE (56%) say that their strategy has been more cost driven compared with 42% who say it has been more value driven
</li>
<li>77% of respondents said that over the past 2 years, productivity had become a more important goal for the CRE team.</li>
</ul>
The last three biennial global surveys conducted since 2010 indicate a clear focus on cost for corporate real estate teams at the expense of allowing these teams to create value beyond just financial savings.
“Internal real estate teams need to move from being a technical specialist to being a trusted advisor," Wyllie said.
“For corporate real estate teams to elevate their role away from just a cost focus, they need to expose what they have traditionally held as their organisation’s ‘strategically sensitive’ functions around portfolio strategy to service providers and shift their own focus on the pinnacle levels of strategy such as stakeholder management and integration with the key supporting business functions of HR, IT and finance.
“The results from JLL’s latest survey show that the demands from the C-suite (CEO’s, COO’s, CFO’s) are growing, not slowing.
“Since the GFC, companies have been honing in on what is typically either their second or third largest cost base – their real estate or office footprint.
“Not only has the C-suite continued to demand cost savings from real estate but their expectation is for corporate real estate teams to deliver on both the value and cost side of the real estate equation.
“That’s why corporate real estate teams are still walking a tightrope,” said Wyllie.
The report identifies opportunities for corporate real estate teams to shift their focus and increase their visibility in managing a company’s real estate assets. The survey found the CRE mandate to do this was stronger than 3 years ago – 26% said it was ‘much stronger’ and 40% said it was ‘stronger’.
“While the survey showed that the majority of CRE executives believe they can elevate their function through delivering cost savings (35%) and have spent the past two years with a strategy focused on cost savings, this succeeds in garnering support from the business, but leaves a lot of value on the table that companies could be using to maximise the performance of the business,” said Wyllie.
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