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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Gladstone has very little investor activity in the market at present compared to three to four years ago when investors were pretty much the only buyers in the market, says Herron Todd White's latest report.
The valuation firms November review suggest the demand for accommodation in association with the construction of the multi billion dollar LNG plants was the highest Gladstone had ever seen.
However the market has been declining, significantly in some sectors since the peak in 2011 and 2012, says the HTW report.
"In 2015, there has been a general stabilisation of the market for existing established housing.
"Sales activity has spiked at various times throughout the year as prices are now much more affordable.
"Most of this activity has come from owner occupiers or local investors out for a bargain."
The HTW report suggests the unit market has been the hardest hit in terms of value with most values now approximately 40% to 50% less than their value in the peak.
"There were over 900 apartments and townhouses built during the boom.
"This market is unlikely to improve in the medium term future.
"Most of these units were marketed towards investors and the new APRA guidelines are likely to further stagnate sales and possibly lead to further value reductions.
The month in review suggests new construction activity is very low.
"Gone are the days of house and land packages being marketed to investors.
"The packages are still being marketed, however the uptake is much slower.
"While many believe the residential market in Gladstone has hit the bottom, there are a few important factors which may say otherwise."
There are still approximately 7,000 workers on Curtis Island finalising construction of the LNG plants according to the report.
"Approximately half of these are locals who within the space of 12 months will need new employment in a region that is already struggling.
"Vacancy rates continue to rise, currently sitting at approximately 8%.
"Demand is limited in certain market sectors."
The HTW report concludes by saying that these items coupled with APRA’s new guidelines regarding investment lending indicate that Gladstone could be in for a bit more hurt in the future. 
 
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jrobinson-rf4aSBido9

Low investor activity in Gladstone's stabilsing property market: HTW

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A luxury residence in Bruce was most expensive sale in Canberra at weekend auctions.
Last traded for $1.3 million in 2005, <a href="https://www.realestate.com.au/property-house-act-bruce-121149414" target="_blank">9 Weatherburn Place</a> was sold by Brett Hayman of Peter Blackshaw Real Estate for $1.7 million.
The architecturally designed split level home features high timber cathedral ceilings, a wine cellar and a fully tiled indoor pool.
The family friendly home features a kids wing with three bedrooms, two bathrooms and a rumpus room.
A championship sized astro turf tennis court, circular driveway and landscape gardens complete the 1464 sqm block.
The house in a short walk to the numerous schools and shopping malls.
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Bruce trophy home most expensive Canberra sale

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<img src="/images/2015/11/26/NEW_RAMS_LOGO.jpg" alt="">
In even the most perfect property, you'll find little details you'd like to fix or change when you move in.
<div id="tt-wrapperd8fb38b" class="tt-wrapper inread ">In most homes, the flaws may be minor but before you buy, it’s wise to have the building inspected for major maintenance problems, structural faults and pest infestations. </div>
Building and pest inspection reports typically cost a few hundred dollars each up front but may alert you to problems that could cost thousands to repair in the long run. 
If the property you want is up for auction, any reports will have to be done before the auction. 
If you're buying privately, you could make your offer conditional on obtaining inspection reports on terms satisfactory to you, so the inspections can be done between acceptance of your offer and exchange of the sale contract or during any cooling off period. 
You might be able to use the information you gain from a building or pest inspection to negotiate a better price for the property or have the vendor rectify a problem so you don’t have to deal with it after you’ve purchased. In any case, it’s better to be forewarned of potential issues than to get a nasty surprise after you’ve moved in.
INSPECT IT YOURSELF
Before professional assessment, inspect the property yourself.
Even without professional training, you may be able to spot areas of concern. When you visit a property, consider whether it looks well-maintained. Look for warning signs that warrant further investigation such as cracked roof tiles, rusty gutters, damp patches on walls and ceilings, and cracks in the brickwork.
Sometimes owners will try to cover up problem areas by painting or wallpapering over them, or using quick fixes that won’t last in the long run. These may be difficult for the untrained eye to pick. A qualified building inspector will be better able to spot any deficiencies in the property.
PROFESSIONAL ASSESSMENT
Ask around for recommendations of a licensed builder, surveyor or architect to conduct the inspections. Otherwise you could find contact details through the Australian Institute of Building Surveyors, Master Builders Association, the Australian Institute of Architects, or a similar professional body. The report the inspector provides should comply with the Australian Standard for building inspections (AS 4349.1) and the inspector should have adequate professional indemnity insurance coverage. 
The inspector should look for structural faults and damage to all accessible areas of the building as well as sheds, pergolas, fences and swimming pools.
Pest inspections may identify old or active termite damage, and evidence of other vermin such as mice or rats. 
Quick tip: An inspector may not be able to access all areas of the property so they may not uncover all of a property’s flaws but they should be able to identify major defects.
 
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/297886977;125002163;s" 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/297890194;125002164;f" 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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jchancellor-FAypfDUnLy

Pre-purchase inspections

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Housing markets show different performances geographically as well as across product types and pricing points.  
Across the capital cities, a useful measure of capital gain across broad price points is our stratified hedonic index.  
The CoreLogic RP Data Stratified Hedonic Index looks at the movement in home values across three broad value based segments of the housing market.  The three segments are divided across quartiles and provide an insight about capital gains across the most affordable 25% of capital city suburbs, the middle 50% of capital city suburbs and the most expensive 25% of capital city suburbs.
<a href="/images/2015/11/23/Chart-11.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/Chart-11.jpg" alt="">
 
Over the 12 months to October 2015, dwelling values across the combined capital cities increased by 8.2% across the most affordable suburbs, 9.6% across the middle priced suburbs and 11.4% over the most expensive suburbs.  The trends are somewhat different over the past three months with the most affordable suburbs recording the strongest value rises.  
Over the period, the most affordable suburbs have seen values increased by 1.5% compared to 1.2% growth across the middle market and a 1.3% increase in values across the most expensive suburbs.  Over the current growth phase, which broadly commenced in June of 2012, combined capital city home values have increased by 26.5% across the most affordable quarter of capital city suburbs, by 32.4% across the ‘middle’ of the market and by 33.7% across the most expensive quarter of suburbs.
<a href="/images/2015/11/23/Chart-21.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/23/Chart-21.jpg" alt="">
 
Looking at the data across the five largest capital cities shows some quite different results.  Across the most affordable capital city suburbs, home value changes over the past year have been recorded at +14.3% in Sydney, +8.8% in Melbourne, +3.1% in Brisbane, +3.4% in Adelaide and -1.4% in Perth.
  Looking at the middle 50% of suburbs the value changes over the past year have been recorded at: +14.8% in Sydney, +11.2% in Melbourne, +4.6% in Brisbane, +2.6% in Adelaide and -2.9% in Perth.  Finally the most expensive quarter of the market recorded value changes over the past year of +17.1% in Sydney, +14.6% in Melbourne, +3.5% in Brisbane, +1.5% in Adelaide and -4.3% in Perth. 
Based on these results you can see that it has been the most expensive suburbs recording the greatest value rises in Sydney and Melbourne with the most affordable suburbs recording the slowest rate of growth.  In Brisbane the middle market is seeing the greatest rise in values while the most affordable suburbs are seeing the slowest rate of growth. In Adelaide and Perth the best performed segment is the most affordable end of the market with the most expensive suburbs the weakest. Note that in Perth all three segments analysed have recorded value falls over the past year.
Focussing on quarterly data, the most affordable suburbs have been the strongest for growth in Melbourne, Adelaide in Perth. The middle market has recorded the strongest value growth over the quarter in Brisbane while in Sydney the most expensive suburbs have recorded the highest rate of value growth.
The differing performance of the segments provides a good insight into the current market dynamics as to where housing demand is strongest.  In Sydney and Melbourne it is typically higher priced stock, in Brisbane it is the middle market and in Adelaide and Perth demand is largely for more affordable housing stock. 
As the rate of growth slows in Sydney and Melbourne we are likely to see the profile of where demand is strongest also change in those cities.  Furthermore, if Sydney and Melbourne buyers look to purchase in other cities they may be able to afford more expensive stock than the local buyers in Brisbane, Adelaide and Perth.  As a result we may see higher levels of value growth across the higher priced market segments.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
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ckusher-ujnxiKuFQs

Different magnitudes of market value changes: Cameron Kusher

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Herron Todd White's recent in month report highlighted Darwin was still attaining the highest rental yields of any capital city in Australia, sitting at 5.5% for both houses and units.
Despite having the highest rental yields, HTW noted CoreLogic RP Data's Home Value Index shows that Darwin has recorded the most substantial decline in values with a fall of 3.2% over the three month period to August 2015.
"Local agents have seen lower levels of investor transaction in the past 12 months with owner occupiers forming a greater proportion of buyers in the current market," according to Herron Todd White's November review .
It noted the level of investment lending has shown signs of cooling in recent months, with lending finance data released by the Australian Bureau of Statistics showing a 35.6% decline in the value of new lending to investors in the Northern Territory between May and August 2015.
The report explains that there are a number of developments under construction and near completion, including Horizons on Harvey, Mauna Loa Apartments, Jepun on Smith Street Mall, Catalyst, 29 Daly Street Darwin, Tech 1 and a number of boutique buildings on inner streets of Stuart Park and Larrakeyah, with a total of 500 apartments.
"Darwin CBD is currently experiencing a high level of apartment construction driven by strong demand from first home buyers due to the FHOG being limited to new properties.
"Among these developments, 2-bedroom sales above the $600,000 mark have seen fewer transactions compared to 1-bedroom, studio and 2-bedroom apartments in the price range of mid $400,000 to $550,000 which particularly appeal to investors and are offering a gross yield in the range of 5% to 6%."
The report goes on to add that although rents have come back in the past six to eight months, the relatively higher rental yield compared to other state capitals keeps properties in Darwin attractive to interstate investors, especially new apartments, due to the benefits of better rental rates, tax savings, less maintenance issues and depreciation benefits.
"In previous years, up to 70% of off the plan apartments were sold to investors.
"In contrast, the current demand for off the plan properties has shifted towards a more even market of investors and owner occupiers.
"In the past, several developments in the inner Darwin CBD were offering attractive incentives of up to 8% guaranteed rental returns.
"These developments had been well received by both local and interstate investors.
It suggested that today, most of the current off the plan apartments no longer provide such incentives apart from the Northern Territory Government’s Real Housing for Growth head-leasing initiative developments.
"Under the plan, 2,000 new homes will be constructed in the Northern Territory in the next four years and these properties will be leased to eligible key service industry workers at 30% subsidised rent.
"At present, properties available under the scheme are The Eclipse development in Coconut Grove in Darwin’s north, Farrar Village development in the satellite city of Palmerston and a number of developments in Alice Springs."
These developments have been well received by investors due to the attractive return of guaranteed rental income stream for a ten year period, according to the November review.
"Looking at detached housing specifically, Defence Housing Australia properties in the northern suburbs of Muirhead, Bellamack, Johnston and Zuccoli in Palmerston are still attracting both local and interstate investors offering yields ranging from 5% to 6% with a ratchet clause in place which ensures rent cannot fall below the contract rental price.
"At present, Darwin is experiencing higher than normal rental vacancy at 3.3% as a result of rising home ownership as tenants have been able to get a foot onto the property ladder.
"Looking to Palmerston, owner occupiers formed a greater proportion of buyers in the new subdivision of Durack Heights and Zuccoli as FHOG are available to purchase house and land packages.
The report also suggests that established stocks of both units and detached dwellings in Palmerston, Darwin CBD and the northern suburbs have been the hardest hit segments in the current market.
"Local agents have advised that these stocks are experiencing extended selling periods and a lack of interest as investors and first home buyers are purchasing new properties. 
"The continued decline in house prices for established homes will affect investor borrowers who are looking to borrow money using their equity to purchase investment properties plus the need to stump up a bigger deposit.
"The current trend of softening in Darwin is likely to persist over the coming years. The cumulative effect of APRA’s tighter lending conditions and more expensive mortgage rates will affect investors’ confidence and the long term sustainability of Darwin."
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Darwin top of the capitals in rental yield: Herron Todd White

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Buyers of apartments in Channel 9's The Block: Blocktagon could claim an average of over $1.5 million in depreciation deductions for each apartment after their purchase this weekend.
<a href="/expert-insights/buying/the-block-dean-and-shay-penthouse-set-for-2-million-sale">Dean and Shay's</a> penthouse apartment (above) has the highest amount of depreciation deductions available, with a minimum of $62,735 that could be claimed in the first year and $1,621,688 over the specified lifetime of the property.
Luke and Ebony’s apartment at <a href="/expert-insights/buying/vast-open-plan-the-key-to-the-block-luke-and-ebony-apartment-offering">5/1A Affleck Street</a> as the second highest amount of total minimum depreciation deductions available at $1,600,297.
“As the property with the highest amount of total depreciation deductions available, Dean and Shaye’s apartment may prove attractive to sophisticated investors,” said Bradley Beer from BMT Tax Depreciation.
“While there are many factors that will decide which apartment achieves the highest price, the additional cash flow astute property investors receive from depreciation will assist them when crunching their numbers to make purchase decisions.  
“While Dean and Shaye look to be the clear winners in terms of unlocked depreciation value - it’s a very close field,” said Bradley Beer.
Below is a summary of the depreciation estimates BMT Tax Depreciation found for all five apartments after conducting a site inspection and providing their analysis of the potential deductions investors can claim once the properties are income producing.
<a href="https://www.propertyobserver.com.au/images/2015/11/20/Screen%20Shot%202015-11-20%20at%204.21.32%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2015/11/20/Screen%20Shot%202015-11-20%20at%204.21.32%20PM.png" alt="">
The South Yarra property, originally the 34 room Hotel Saville, was reportedly purchased by The Block’s production company for $6.25 million in 2014. The building has undergone an extensive renovation on the show and is home to five luxury apartments.
Legislation allows the owners of any income producing property to claim depreciation deductions for the wear and tear of the building structure and the assets contained within. 
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The Block 2015 depreciation winners are Dean and Shay 

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Investors in the coastal north area on Queensland's Gold Coast are moderately to highly active, with the typical investor appearing to be mainly international using local builders and smaller project developers, according to valuation firm Herron Todd White's month in review.
The November report suggested investor activity in the central high density beachside locations has traditionally been driven by both local and non local investors.
The report added that in central Surfers Paradise, investor activity is steady to strong with the sub $500,000 price point seeing the most activity.
However, high body corporate fees and property outgoings are deterring investors said the report.
"For example Unit 26, The President, at 29 Northcliffe Terrace, Surfers Paradise sold in May 2015 for $358,000. 
"This is a circa 1973, 2-bedroom, 1-bathroom unit of 86 square metres. It is an absolute beachfront development comprising 30 units on a parent site of 1,533 square metres." 
The report noted that the agent had said that due to the high underlying land value, rates were circa $5,000 per annum plus the body corporate fees of approximately $150 per week made the unit unviable for many potential investors.
The HTW November review then went on to add that new residential stock which fits criteria for Foreign Investment Review consideration and approval seems to be appealing overall to asian investors on Hope Island, as this location is pre-approved for Foreign Investment Review.
"Lately we are seeing an increased amount of non local and particularly Asian investors, who are prevalent on new product."
It went on to suggest the general housing stock in and around the Southport CBD and spreading into Labrador and Ashmore are also appealing to these investors.
"Investors are looking for larger dwellings on larger parcels with Residential Choice classification that can be split for higher density development such as duplex and triplex development.
"The most intense demand however appears to be for residential estates close to the Southport CBD or highly regarded established precincts such as The Southport School (‘TSS’) location and areas with Broadwater proximity.
"Investor activity away from the beach side locations is stronger than previously, with villas and townhouses in larger cluster unit developments in the more outlying suburbs having seen some increase in price levels from low to mid $200,000s up to high $200,000s," the report adds.
"Local owner occupier buyers are competing with local and interstate investors in these outlying suburbs for freestanding houses.
"Pacific Pines which was developed through the 1990s and 2000 has seen healthy increases in price levels over the past 18 months with entry level now circa $380,000.
"This locality is well serviced for schools, shopping and transport, appealing to both investors and owner occupiers alike."
The report goes on to note that general sales for duplex and triplex parcels reflect values of $190,000 to $240,000 per dwelling site in the Southport CBD area.
"In more prestigious areas such as Paradise Point this range is running at $275,000 to $325,000 per dwelling site.
"Interstate buyers are purchasing new units, however, typically at levels above local market price points.
"Student accommodation has slowed with a recent and apparent slight drop in values. We have not seen any activity on flats, however these are perhaps more tightly held.
"Despite recent rate rises signalled by Westpac which may affect the larger city markets, values on the Gold Coast are still comparatively low and appealing to interstate and foreign buyers. There is still room to improve as Gold Coast was hit very hard after the GFC."
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High body corporate fees slow Gold Coast apartment investment

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There has been an influx of investor-purchased residential units flooding the rental market in the northern areas of Sydney, particularly around the Ryde LGA, according to valuation firm Herron Todd White.
The HTW November report goes on to suggest that property managers have advised that prospective tenants have become more discerning in their choices, are negotiating asking rents down and are looking for units with additional features such as views, common property facilities and unit orientation.
"It is anticipated that it will take a longer than normal time for these units to be leased.
"Owners of these units will need to be competitive in their pricing in order to secure tenants.
"This will have a flow on effect to established units in the area with rental levels being adjusted down in the short term.
"Currently the median unit price for Meadowbank is $643,000 with -1% growth in the 12 months as per APM with a median rental of $420 per week as per CoreLogic RP Data.
"This results in a gross yield of 3%."
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Influx of rentals flood Ryde: Herron Todd White

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Valuation firm Herron Todd White's latest report suggests that around 15% of all house and units sales within the Townsville property market during 2015 have been sold to out of town buyers.
Data indicates around 15% of houses were sold to out of town buyers at a median price of $375,000.
"These buyers have shown a preference for modern and semi modern low set masonry and block style homes or older renovated homes.
"These styles of homes are generally lower maintenance."
The research undertaken by Herron Todd White shows that out of town buyers accounted for 34% of all unit sales registered to date in 2015 at a median sale price of $325,000. Investors in this category seem to favour more modern units or semi modern units in desirable locations according to the November review.
Overall investor activity has been subdued throughout 2015, the report states.
"We have not seen any significant variations in activity since the recent changes around lending to investors transpired, however it would appear that investors are wiling to shop around to different lenders to get the best rates.
The report goes on to state that Townsville’s residential property market currently sits at the bottom of the market cycle with limited short term growth in returns or capital forecast. The rental vacancy rate remains above balanced market conditions.
"We consider current investors to be speculative and savvy investors who are in a position to hold property for the medium term until market conditions improve."
 
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Only 15% out of district house buyers this year for Townsville: HTW

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It has been suggested one-in-three off-the-plan investors currently presently through Chan &amp; Naylor's Bankstown-Liverpool office are facing financial stress completing their apartment purchase.
These south west Sydney property investors are considering forfeiting deposits rather than having to take out additional loans up to 20% of the property value, Peter Ristevski, an accountant partner with Chan &amp; Naylor, told the Australian Financial Review.
"I fear a flood of investment properties coming back onto the market will drive down prices and force a correction," said Mr Ristevski.
Investors finalising off-the-plan property purchases require bigger deposits, typically a rise from 10% to 20%, after the APRA crackdown on the overheated Sydney market.
The AFR says it is particularly an issue for self managed super funds that have to find up to 30%.
The AFR estimated there are 90,000 apartments being constructed around the country that have been sold off-the-plan but are not yet settled.
Mr Ristevski claims his experience is replicated by his colleagues across the company's national network of advisers.
"Many do not have an extra 10% in cash to complete the deal," he said. He joined the firm in October 2013 after four years at YBR.
Their options to borrow additional money, include taking out a second mortgage at a higher interest rate.
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