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.

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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.

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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.

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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.

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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.

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“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.

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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.

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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

Stockland

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Stockland chief executive and managing director Mark Steinert is retiring.
He's leaving the country's largest listed developer after seven and a half years at the helm.
The former UBS analyst has been the company's chief executive since taking over from Matthew Quinn in 2013.
Stockland's chairman Tom Pockett said a "flexible period of transition has been agreed with Mark to provide for a smooth handover."
Pockett said Steinert made a great contribution to Stockland.
"[He] will continue to apply his passion and commitment to the delivery of our strategic priorities and our purpose of creating a better way to live during this transition period", Pockett added.
Steinert said his immediate priority is driving initiatives to take advantage of the COVID-19 recovery period.
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Mark Steinert to leave Stockland

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Stockland has announced the launch of its annual CARE Grants program for 2020, inviting local not-for-profit and community groups to apply for funding needed to create ‘more cohesive, inclusive and engaging community-based programs and local opportunities’.
Stockland’s CARE Grants program offers up to up to $300,000 in funding to support to local groups, clubs and programs who support health, wellbeing, community connection, education, or local environmental initiatives.
Since 2014, the Stockland CARE Grants program has distributed more than $1.5 million in funding to more than 1,260 local community groups across the country.
“Stockland has a long-standing commitment to working with communities through its retail town centres, retirement living villages and residential communities across the country. We focus on building liveable, thriving communities and are proud to support local groups who make a difference in their communities every single day,” said Tiernan O’Rourke, the company’s Chief Financial Officer.
“We whole-heartedly recognise the valuable contribution these groups make to their community every single day. We are proud to continue our support for local community groups whose great work, dedication and commitment are an essential part of making any community thrive,” Mr O’ Rourke added.
Grants have been distributed to a range of community groups including environmental groups, animal care and welfare groups, local charities, local primary and high schools seeking additional funds to launch special, community-based programs, as well as a host of local sporting, special interest, seniors and social clubs.
Stockland’s is accepting entries from 9:00am (AEDT) on Monday, 24 February until 5:00pm (AEDT) on Friday, 20 March 2020.
Community groups will be selected based on a range of criteria relating to the grant's community and environmental focus areas.
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Stockland CARE Grants program 2020 begins taking 2020 entires

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Stockland has spent about $105 million for a house and land site in the Donnybrook precinct in Melbourne’s north.
Stockland chief executive of communities, Andrew Whitson, said the acquisition extended the company’s long-term presence in the northern growth corridor of Melbourne, one of the fastest expanding in Australia.
“The northern corridor will play a key role in the future economic and employment growth of Melbourne, and is expected to be home to over 260,000 people over the next 30 years.”
<a href="https://www.bigginscottland.com.au/975-donnybrook-road-vic-donnybrook-4998958/" target="_blank">It is an 89.5 hectare land parcel </a>one kilometre east of the train station, some 30 kilometres from the Melbourne CBD.
Stockland could expect about 1400 new homes, along with a school.
It is within the approved Donnybrook Woodstock Precinct structure plan.
Some of Australia’s largest developers including Mirvac, Stockland, Satterley &amp; Dennis family have nearby holdings.
The 975 Donnybrook Road holding is about five kms from Stockland's 1100 hectare Lockerbie sheep station, Kalkallo purchase in 2010 which is now emerging as Cloverton, Melbourne’s largest master-planned community, set to have 11,000 dwellings.
 
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Stockland spend $105 million on Donnybrook house and land site

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Stockland has partnered with Amazon to offer Amazon Locker, a secure, self-service kiosk for parcel pickups.
Stockland has recently installed Amazon Locker across a number of retail locations in NSW and Victoria.
Locations include the Piccadilly Centre in Sydney CBD, Stockland Green Hills in Maitland, Stockland The Pines in Doncaster East as well as Stockland centres in Merrylands, Baulkham Hills, Balgowlah, Glendale, Nowra, Shellharbour, Wetherill Park, Point Cook and Wendouree, and others. 
Amazon Locker provides customers with the flexibility to pick up a package at a convenient time, rather than having it delivered to a home or business address.
Shipping to an Amazon Locker at Stockland is available at no additional cost.
During checkout, customers will select a Locker at the nearest Stockland location as their shipping address. Once their package is ready for pickup, customers will receive an e-mail along with a barcode that they’ll use to pick up their package during store hours.   
“Our customers continue to demonstrate their desire for innovative in-centre features, tech-integrated amenity and convenience led initiatives to enhance their everyday shopping experience. It is integral that Australian shopping centres continue to evolve and adapt to retailer, customer and global demands,” Stockland Group Executive and CEO of Commercial Property, Louise Mason said. 
“This partnership with Amazon is another way we are curating our offering to what our customers really want. We view online shopping on platforms such as Amazon as an extension of what our retail town centres can provide customers.
“At Stockland we believe the future of retail is about creating places that are at the heart of communities, provide exceptional convenience and offer tailored and unique experiences for customers.”
 
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Stockland partners with Amazon Locker

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Stockland has announced that prices have stabilised across their portfolio with NSW showing early signs of increases and consistency seen across other aspects of the business.
In their latest quarterly report, the listed property developer said that sales were moderately above expectations in the quarter and appeared on track to deliver over 5,000 lot settlements in FY20, including around 500 townhouse.
Net reservations increased by 9.7% reflecting an improvement in both customer sentiment and housing market conditions.
This was seen across both their retirement village projects and other communities.
In the quarterly report Stockland said, "we expect FY21 revenue to benefit from market recovery and five new communities driving an increase in settlement volumes above the midpoint of our through the cycle range, together with potential price growth and cost savings."
Stockland found that the federal election was the turning point for property interest as seen below.
Click <a href="https://www.propertyobserver.com.au/images/2019/10/21/Stockland%20Enquiry.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/10/21/Stockland%20Enquiry.JPG" alt="">
On the commercial side, occupancy was maintained at 99.2% with 105,460 sqm leased insofar on a WALE of around 5.3 years.
Stockland made conditional agreements to purchase two logistics assets in Brisbane with end development value of approximately $140 million and consolidate a 71Ha landholding in Western Sydney with end development value of approximately $500 million.
They added that their $2.5 billion development pipeline has been progressing and developing new JV opportunities, including Melbourne Business Park and Western Sydney land.
In addition their acquisition of 50% interest of Piccadilly is to be fully funded through the disposal of 50% interest in 135 King Street/Glasshouse.
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Stockland reports stable residential sales with NSW showing positive signs

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Property development giant Stockland have announced a drop in profit of nearly 70 per cent for FY19, however their residential sector saw an eight per cent rise.
It was devaluations in their retail town centre and retirement living portfolios.
The residential sector saw profits rise from $336 million to $362 million over the financial year through 5,878 residential lots settled, in line with their re-forecasted 5,900 settlements.
There were 3,869 residential contracts on hand over FY19.
Andrew Wilson, chief executive of communities, said the residential business has delivered a strong profit result despite a challenging market.
“In FY19, we’ve realised higher margins driven by the increased average price of lots settled in our Sydney and Melbourne projects, and we continued to gain market share over the year, as customers focus on the strength of our brand which is built on the quality and liveability of our communities.
Stockland have found enquiry has jumped in New South Wales and Victoria following the election.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/21/Stockland%20enquiry%20jump.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/21/Stockland%20enquiry%20jump.jpg" alt="">
The majority of Stockland's residential communities are located in Queensland (41% of their portfolio) and Victoria (31%).
New South Wales only makes up 12 per cent of their residential community portfolio, even less than Western Australia who command 16 per cent.
New South Wales has a stronger standing in the retirement living portfolio however with 27%, only second to Victoria who have 39% of the portfolio.
During FY19 Stockland sold The Grove in Victoria and Merrylands Court in NSW to fund higher return projects.
Stockland managing director and CEO Mark Steinhart said Stockland are well positioned to benefit from an improving market, however they "expect conditions to take some time to normalise as customers continue to experience challenges achieving loan approvals."
Statutory profit for the year ended June 30 fell to $311 million from a profit of $1.03 billion the previous financial year.
Shares opened at $4.45 and have risen to $4.49 in early morning trading. 
 
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Stockland profit crashes, but residential sector profits rise

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Stockland have announced two new agreements to restock its Victorian pipeline.
They include a townhouse site adjacent to an existing Altona North project in Melbourne’s inner west and a 342 hectare land parcel in the Merrifield North Precinct Structure Plan area in Melbourne’s north.
Stockland CEO of communities Andrew Whitson said the agreement with Food Investments Ltd takes its townhouse exposure in Melbourne’s growing inner-west to around 900.
The Stockland national pipeline of townhouse now sits at roughly 3,200 (with 1,300 in Victoria), according to the company.
As the current landowner, Food Investments Ltd will maintain a stake in the project, which will be developed and delivered by Stockland over the next 5-10 years, subject to planning approvals and market demand. 
The proposed plan also includes a future community centre and an approximate $1.5 million contribution towards affordable housing.  
Stockland also announced that it has entered into a long-dated project delivery agreement to develop 342 hectares of land in the Merrifield North Precinct Structure Plan area, in close proximity to Stockland’s Cloverton community at Kalkallo. 
The agreement has been facilitated on capital efficient terms in a strategic growth area, which is currently unzoned and will undergo a rezoning process over the coming years.
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Stockland announces new agreements to restock its Victoria pipeline

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Stockland’s third quarter market update highlighted that property group results remain on track for FY19 in what its CEO Mark Steinert said was "a challenging trading environment."
Residential sales for the quarter were 26 per cent below the second quarter and expected to remain weak for calendar year 2019, "with risk to the downside given current challenging market conditions, reduced credit availability and buyer uncertainty due to the upcoming Federal election.
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“We remain on track to complete over 6,000 residential settlements over the full year, with the anticipated settlement skew to the second half, and an operating profit margin over 18 per cent. 
"Cancellation rates have increased moderately on the back of uncertainty created by current market conditions, however default rates have remained stable at around 3 per cent.
“We continue to see demand for our product from our core market of first home buyers and owner-occupiers which make up 50 per cent and 84 per cent of our customer base respectively, as we focus on providing affordable, liveable and sustainable homes in communities connected to infrastructure and jobs.
“Across the country we have reasonable visibility of earnings over the medium term, with over 2,800 contracts on hand for settlement from FY20, but we expect challenging conditions to continue throughout 2019.”
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“We’ve achieved residential settlements and net deposits broadly in line with expectations this quarter, solid retail sales and strong leasing and development activity in our workplace and logistics portfolio.
"This is being countered by weak residential sales and negative retail rent reversions."
It achieved a cumulative $284.5 million of non-core retail town centre divestments, including the recent sale of Stockland Kensington in Queensland.
“We are actively progressing capital partnering opportunities across all sectors represented in our business, through ongoing engagement with a range of potential domestic and international partners," Steinert noted.
Steinert said Stockland have a strong focus on building resilience of income across its national commercial property portfolio.
"We’ve taken a clear view of core and non-core assets, defining our core assets as leading town centres with strong and growing trade areas with limited competition, and where we have the opportunity to enhance the asset to generate sustainable income growth over time.
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“We’ve seen continued solid sales results across our retail town centres, reflecting the success of our remixing strategy and focus on health, services, lifestyle and entertainment to drive foot traffic. Comparable speciality sales are up 3.8 per cent for the year to 31 March 2019 at $9,253 per square metre.
“As flagged at the half, while we continue to experience negative retail income growth, we have a clear focus on stabilising income. 
"We are also rolling out a place making strategy across our portfolio to add value to our community offering and drive more foot traffic into our centres.
During the quarter, it commenced construction of the new $33 million Baringa Town Centre at the Aura community on the Sunshine Coast, 
 
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Stockland reports weak residential sales 

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A new list of masterplanned community sales has been released, with Stockland placing three times in the top five.
The National Land Survey by Research4 reports on vacant land sales in new residential communities around Australia.
Stockland’s Aura community on Queensland’s Sunshine Coast claimed first place with 746 sales in the past year.
Stockland Elara in Sydney’s north-west was the second most popular community with 674 sales in the 2017-18 year, while Stockland Highlands in Melbourne’s northern growth corridor ranked fourth with 632 sales.
Andrew Whitson, Group Executive and CEO, Stockland Communities, said it was an outstanding result for the company.
“Our closest competitor achieved a market share of 5 per cent in the June quarter, highlighting our strong national position in the creation of masterplanned communities,” he said.
“We have a long track record for delivering many of Australia’s best new communities and a clear vision for meeting the future housing needs of Australian families.
“These latest national land survey figures confirm that our focus on liveability, affordability and the owner occupier market has made Stockland the first choice for home buyers in masterplanned communities.”
Whitson said is currently sell over 75% of its product to owner occupiers and over 50% to first home buyers.
AT Aura, more than 20,000 new homes will be created on the 24 square kilometre site over the next 30 years. 
Other products in the company’s development pipeline include the Highlands community in Victoria  and the Elara community in Sydney.
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Stockland's Aura project records the most masterplanned community sales in Australia 

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Stockland is progressing with its development pipeline of $83 million of logistics assets across Western Sydney, having signed up new tenants Silk Contract Logistics, Daikin, Orora and Colette.
Stockland's Yennora Distribution Centre spans 70 hectares and operates as an intermodal rail terminal, connected to the Main Southern Rail Line. 
It recently completed a a $26 million development at Yennora which expanded the centre to more than 300,000 square metres.
Silk Contract Logistics signed a lease which comprises a 13,597 square metre high clearance office/warehouse building, as well as 19,582 square metres of dedicated container rated hardstand, providing direct rail access to Port Botany.
Daikin has signed as a core tenant to Stockland's $96 million Coopers Paddock Logistics Park in Warwick Farm (pictured below). Colette fashion accessories and Orora Packaging have also leased tenancies at the site.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/2/Warwick%20Farm%202.jpg" alt=""> 
The$50 million second stage of the Ingleburn Logistics Park has also been finalised with two new warehouse facilities of 15,494 square metres and 21,350 square metres.
This follows the completion of stage one last year, a 29,050 square metre facility that is now fully leased to Next Logistics and TIFS.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/2/Ingleburn%202.jpg" alt="">
Tony D’Addona, General Manager – Workplace and Logistics, at Stockland, said the group’s styrategy is to grow its national workplace and logistics portfolio to greater than 25 per cent of total assets.
“Our vision is to create modern, functional and connected logistics centres, supporting local employment to meet Western Sydney’s growing demand for new warehousing and manufacturing space,” he said.
“We made a decision to develop over 110,000 square metres across our Warwick Farm, Yennora and Ingleburn assets which has proven to be a great opportunity with strong leasing activity across 2018. 
“Together these developments are contributing approximately 650 new jobs for Western Sydney today, with significant potential for future employment growth. 
“The demand for high quality logistics assets has been driven by a robust NSW economy and consistent, record infrastructure investment, including the new Western Sydney Airport, offering a great opportunity to develop high quality assets in connected locations.” 
D’Addona said Stockland’s national Workplace and Logistics business includes a $600 million national development pipeline and comprises 34 properties, currently valued at approximately $3.7 billion.
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