Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Sydney

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If online listings are any guide, the rental market in Sydney has been tightening lately, with fewer rentals being advertised across a high number of suburbs.
According to the REINSW inner Sydney vacancy rates were unchanged in August at 1.9 per cent, but middle ring Sydney tightened by 0.3 per cent to 1.6 percent, while outer Sydney's vacancy rate of 1.7 per cent was the lowest since November 2015.
<a href="/images/2016/09/23/B1-1.jpg" target="_blank">Click to enlarge</a>
<div id="x_post-body-4479739622962738159" class="x_post-body x_entry-content">
<div class="x_separator"><img src="/images/2016/09/23/B1-1.jpg" alt=""></div>
 <div>Smoothing the figures on a 4mMA basis to nip out a bit of the noise shows that Sydney vacancy rates have been fairly flat over the past year in the middle and outer ring, but are some way tighter in the inner suburbs.</div>
<div> </div>
<div><a href="/images/2016/09/23/B2-1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="x_separator"><img src="/images/2016/09/23/B2-1.jpg" alt=""></div>
<div> </div>
<div>The vacancy rate in Newcastle has sneaked back up to 3 percent.</div>
<div> </div>
<div>The Tenants' Union (TU) Rent Tracker found that Sydney unit rents moved 5 percent higher over the past year, while house rents were 3 percent higher. </div>
<div> </div>
<div><a href="/images/2016/09/23/Rents1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="x_separator"><img src="/images/2016/09/23/Rents1.jpg" alt=""></div>
 <div>Rents have moved sharply higher in Randwick and Woollahra over the past year according to the TU, but regional areas have been found to be "much more stable".</div>
<div> </div>
<div>The TU believes that the CPI measures understate Sydney's rental price growth. Their long run data also shows Sydney rents rising much faster than inflation.</div>
 <div class="x_separator"><a href="/images/2016/09/23/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="x_separator"><img src="/images/2016/09/23/A4.jpg" alt=""></div>
<div class="x_separator"> </div>
<div class="x_separator">According to the TU over the last 20 years new rents have generally increased at an average of around 8 per cent across Sydney and 5 per cent across the rest of New South Wales.</div>
<div class="x_separator"> </div>
<div class="x_separator">
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>.
</div>
</div>
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pwargent-M4siyDbqQY

Sydney vacancy rates tighten again

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Over recent weeks, auction clearance rates across the nation’s two largest housing markets (Sydney and Melbourne) have been significantly lower than they were 12 months ago however, they haven’t necessarily been all that much lower than the previous years.  While comparing auction volumes and clearance rates to a year ago is valuable, it is much more valuable to look at how these metrics compare across a number of years.
<h3>Melbourne</h3>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg1.png" alt="2017-11-27--melbourneweeklyauctionclearancerates" width="570" height="214">
Auction clearance rates in Melbourne are currently substantially lower than they were a year ago.  In fact, the clearance rate of 66.9% last week was the lowest since July of last year.  Although clearance rates are lower than they were a year ago, they are at fairly similar levels to what was being recorded at the same time of year in 2013, 2014 and 2015.  The chart really highlights just how much stronger the auction market in Melbourne was a year ago relative to other recent years.
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg2.png" alt="2017-11-27--melbourneweeklyauctionvolumesoverrecentyears" width="570" height="214">
  The volume of properties being taken to auction, particularly over recent months, has generally been higher than over recent years.  By comparison, in 2016 when clearance rates were much higher than they have been this year, the number of properties being taken to auction was relatively lower than over recent years.  The higher number of properties being taken to auction is likely to be having some impact on the weaker clearance rates this year relative to last however, volumes are also much higher currently than they were in 2013, 2014 and 2015 a time at which clearance rates were fairly similar to current levels. Given this, clearance rates are actually holding up quite well considering much higher volumes of auctions.
<h3>Sydney</h3>
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg3.png" alt="2017-11-27--sydneyweeklyauctionclearancerates" width="570" height="214">
Auction clearance rate in Sydney have been at their lowest levels since 2012 over recent weeks and have been on a steady decline throughout 2017.  If you exclude the low volumes in January, last week’s auction clearance rate of 54.8% was the cities lowest clearance rate since December 2015.  Clearance rates have not been consistently as low at this time of year since 2012.  Clearance rates are substantially lower than they were a year ago and are also slightly lower than they were two years ago when APRAs first round of macroprudential policies were significantly impacting Sydney housing demand.  If the previous round of macroprudential policies is a guide we can expect a further weakening of clearance rates over the coming weeks.
<img src="https://www.corelogic.com.au/sites/default/files/styles/article_image_570w_/public/2017-11/2017-11-27-blogimg4.png" alt="2017-11-27--sydneyweeklyauctionvolumesoverrecentyears" width="570" height="214">
  Unlike Melbourne, Sydney is not seeing a substantially higher number of properties being taken to auction compared to recent years.  In fact over recent weeks there has been an equivalent number of auctions across the city to volumes last year when clearance rates were much higher than they are currently, while there have been fewer auctions than in 2015 when clearance rates were similarly weak.  
There has been clear evidence over recent weeks that auction clearance rates have softened in Sydney and Melbourne.  The falling clearance rates in Sydney are occurring on similar volumes of auctions to recent years but matches the recent declines in dwelling values.  In Melbourne, auction clearance rates have slowed and there has also been a moderate slowdown in value growth.  The big difference in Melbourne has been that auction volumes have been much higher so it is difficult to know if the weaker clearance rates are because of the market overall or due to their being too much stock being put up for auction each week. Keep in mind that clearance rates typically soften through Spring as auction volumes increase so we may have to wait until 2018 to truly understand what is driving the apparent weakness in the Melbourne auction market.
Cameron Kusher is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

What is driving the clearance rate weakness in Sydney and Melbourne? Cameron Kusher

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<div>There's quite a bit been said on the apparent mass exodus from Sydney.</div>
<div> </div>
<div>Again, there's a strong element truth to this story.</div>
<div> </div>
<div>But it's equally important not to take away the wrong visual image from this. </div>
<div> </div>
<div>The fact is, New South Wales always loses people interstate, and it always will, largely to Brisbane, south east Queensland, and even to Melbourne.</div>
<div> </div>
<div>In reality, though, the numbers leaving the state on a net basis were dramatically lower in the 2011-2016 Census period than they were in the preceding five years. And they were much, much lower than they were in the five years before that, with net interstate migration tracking at way under the half the rate of seen from 2001 to 2006.</div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-tkZj2K3gX30/We7_dSCSWdI/AAAAAAAAmug/igPMz15WmG8_HIPuqq8mUqdxzrGXqo71gCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-tkZj2K3gX30/We7_dSCSWdI/AAAAAAAAmug/igPMz15WmG8_HIPuqq8mUqdxzrGXqo71gCLcBGAs/s640/A1.jpg" width="640" height="396" data-original-height="831" data-original-width="1343"></a></div>
 
<div>
To the regions... Now it's true that more people, especially Baby Boomers, have been taking their newly-boosted Sydney equity to move out to regional New South Wales, such as to the Hunter Valley, or to the South Coast.</div>
<div> </div>
<div>However, this has been offset by a marked <a href="https://petewargent.blogspot.co.uk/2017/09/population-growth" target="_blank">increase in immigration to Sydney</a>, as migrants seek employment opportunities. The harbour city of Greater Sydney is growing at a faster pace than previously, probably now at somewhere close to 100,000 per annum, which is well ahead of the decade average.</div>
<div> </div>
<div>This will presumably continue for as long as Sydney continues to create <a href="https://petewargent.blogspot.co.uk/2017/09/jobs-boom-to-continue" target="_blank">record job openings</a>. </div>
<div> </div>
<div>The net impact of this dynamic - high immigration and resident Sydneysiders moving outwards or interstate - is that Sydney has a substantial foreign-born population (which now comprises more Chinese-born residents than British-born, a remarkable statistic in its own right). There's plenty of disingenuous 'analysis' of the capital city economies, focusing on resources exports and ignoring services exports, for example, while also ignoring Australia's record levels of household wealth and the comparative improvement in standard of living for so many immigrants. The Productivity Commission ("PC") has delivered another long report on the importance of the large cities to Australian wealth, and why services industries and employment growth fare best within them, in part due to proximity to other businesses and labour supply. The fact is that over the most recent year Sydney (38.6 per cent) and Melbourne (28.4 per cent) have unsurprisingly dominated contributions to Australia's GDP growth, according to analysis by Terry Rawnsley of SGS Economics &amp; Planning. Challenges abound
</div>
<div> </div>
<div>All of the above having been said, it's reasonable expect to see interstate migration to south east Queensland accelerating again over the next five years. One of the most noteworthy challenges identified by the PC is that about 60 per cent of new jobs are created within 10 kilometres of the Central Business Districts, but housing supply in those locations is not keeping up with this pace of growth by about half. The PC found that most jobs that can be reached within 45 minutes by car are located in the inner city, while on the city fringe this is the case for fewer that 20 per cent of jobs.</div>
<div> </div>
<div>By 2050 an additional 10.8 million people are projected to be living in Australia's capital cities, as well as an extra 2.4 million people in the non-capital city areas. </div>
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The population exodus from Sydney: Pete Wargent

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EXPERT OBSERVATION
School catchments have always been important in driving demographics, and how and where families choose to live.
But as the capital cities become denser, this will become more and more so the case.
In Sydney and Brisbane we are now seeing the advent of high-rise inner-city high schools, which is something perhaps more readily associated with countries such as Japan, or elsewhere in Asia.
At the Inner Sydney High School site in Surry Hills, the 14-storey school with a tech and science focus is under construction, but isn’t due to open until 2020.
Yet already applicants from outside the catchment area are being sidelined onto a waiting list.
<img src="https://gonextlevelwealth.com.au/wp-content/uploads/2019/10/Catchment.jpg">
Aspirational parents will have a natural desire for their children to be able to access the high-tech facilities and state-of-the-art modern classrooms, and as such we can reasonably expect that they’ll move heaven and earth to achieve that end.
When fully constructed the Inner Sydney High School will provide education for 1,200 students.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. 
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Why school catchments are becoming critical: Pete Wargent

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Sydney’s fast pace population growth is set to come to an abrupt halt. The recent closing of borders and after the restrictions that will follow the COVID-19 pandemic will stop most of it.
For the past half century demand for housing and the accompanying property price growth has been driven in part by population growth.
The latest government estimates suggest the key driver is going to fall sharply over the next year or so.
The disruption will show up in many ways.
Short term tourists have disappeared, but will return.
The weakness in short-term tourist arrivals will hit the domestic tourism industry, though will likely be offset in part by more Australians travelling at home when domestic travel restrictions are lifted in stage two.
Large numbers of temporary residents from overseas have departed, but only a trickle will return any time soon. Ditto temporary working visas.
The fall in numbers of international students on visas will likely not see a return to recent levels anytime over the coming year.
The downward pressure on rental price growth that landlords have seen in recent weeks will likely be extended unless Australia’s sustained comparative advantage as an education and tourism destination returns quickly.
The Government estimates long-term migration arrivals could fall by around 300,000 over the next 18 months, with a drop of 72,000 in the first half of this calendar year and another 204,000 in the 2020/21 financial year.
According to UBS Australia's population growth is forecast to slow to just 0.5 percent in 2020.
This is the slowest pace since 1916, according to economists.
The recent average has been between 1.5 percent to 2 percent per year.
Scott Haslem at Cretonne Wealth Management says at the positive end a temporary pullback in migration flows could provide some time for infrastructure works to "catch up" over the next 18 months.
But for residential housing, the weakness in migration is a significant headwind.
UBS estimates there will be a fall in underlying annual housing demand from around 200,000 to only around 130,000 in the near term - before recovering towards 190,000 by the end of 2022.
This drop in dwelling commencements will mean fewer tradies in work which spells wider problems for the economy.
Construction has continued during the shutdown so employment has not yet been impacted like many other industries.
Lower population growth, from fewer arrivals from overseas, will be accompanied by an emerging drop in the nation's fertility rate currently averaging 1.7 children per couple.
Births falling by 2 per cent to 91,376 in NSW last year.
We are set to enter an ongoing debate especially on the role of temporary migration.
Temporary migration is certain to look different over the next few years than it has over past few. 
That’s its purpose – to adapt to changing circumstances, Monash academic Gabriela D'Souza recently noted.
But the Investec fund manager Graeme Katz recently warned pushing back against immigration as a “seriously short sighted view”.
“Our country needs to send a signal that we’re open for people, we’re open for capital, and we’re open for business, and provide the productive environment for job creation and growth,” he said.
“Only growth will provide the environment for job security, which in turn creates a confidence of consumers to spend and the multiplier flow on ... will provide a tax base to support a well-balanced economy and society,” he said.
This article first appeared in The Daily Telegraph
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jchancellor-FAypfDUnLy

Sydney's population growth set for abrupt Covid-19 induced halt

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EXPERT OBSERVER
Sydney has been the market most visibly impacted by the Covid-19 period. The number of growth suburbs has dropped sharply and danger markets have doubled.
While other major cities have been notably resilient in the face of the virus crisis, Sydney’s statistics on sales trend and vacancies have deteriorated significantly – although prices in many markets sectors remain resilient.
In our previous (Autumn 2020) quarterly survey, we reported “the strongest Sydney market we have recorded in the five years we have been conducting our quarterly sales surveys”.
But our latest (Winter 2020) survey shows the number of suburbs with rising buyer demand has dropped from 67 to 24, while the number of suburbs we classify as danger markets has increased from 12 to 24.
This coincides with a marked increase in vacancy rates in many parts of the Greater Sydney Area. Sydney overall has the highest vacancy rate among the capital cities and the inner-city postcodes have recorded a major blowout, caused primarily by investors who had previously used short-term letting methods like Airbnb.
Sydney is also most impacted by the shutdown of international travel and overseas migration.
The Covid-19 impact has been a particular blow to Sydney markets because in late 2019 and early 2020 there was a notable revival after a prolonged slump throughout 2018 and most of 2019. Our Autumn 2020 survey showed Sydney surging back to a position of strength, with sales activity and prices rising, only to be sabotaged by the virus crisis.
The most visible manifestation of the Covid-19 downturn comes from the number of suburbs we classify as danger markets. These are locations where a decline in sales activity has coincided with a major blowout in vacancy rates, factors which have greatly impacted locations dominated by apartments - and 16 of the 24 danger markets are in the Sydney City and Parramatta municipalities.
The eight danger markets in the Sydney City LGA include Pyrmont, Ultimo, Waterloo, Haymarket, Forest Lodge, Chippendale and the Sydney CBD - while Glebe, Woolloomooloo and Erskineville are classified as declining markets.
The Parramatta LGA also has eight danger markets: Carlingford, Epping, Harris Park, Lidcombe, North Parramatta, Parramatta, Rosehill and Wentworth Point.
On the positive side of the ledger, there are precincts which are showing a high level of resilience – notably two municipalities in the south of Sydney, Georges River and Sutherland.
The LGA of Sutherland is the market leader in this coronavirus period, with three growth suburbs (Menai, Engadine and Miranda), five consistency markets and none classified as declining or danger. This precinct offers a great lifestyle based on water and national park access, plus lower prices than the suburbs of the inner west and north shore.
In terms of growth markets, quarterly sales in Engadine have been 42-58-73-76, while Menai sales have been 30-41-45-42-50.
The nearby Georges River LGA has two growth suburbs (Allawah and Peakhurst), three consistency suburbs and none classified as declining or danger.
Penrith is another standout, because of the high number of consistency suburbs and the absence of declining or danger markets. In the suburb of Penrith, quarterly sales have been 60-73-85-92-103-112, a pattern that has defied the broader trends.
In the more upmarket sectors, the Northern Beaches has two growth suburbs, (Balgowlah and Dee Why), six consistency markets and none ranked as declining or danger. Frenchs Forest and Freshwater rank nationally for their high level of consistency over several years, regardless of the broader market trends.
The Waverley LGA also has been quite steady, with sales in North Bondi quarter by quarter being 30-39-40-51-45-46-56.
Other upmarket precincts showing steadiness in the face of negative forces include the Woollahra and Ku-ring-gai municipalities.
Notwithstanding the destructive impacts of the virus crisis, Sydney has recently shown a notable level of resilience in terms of prices.
While only 25% of house markets and 27% of apartment markets have recorded annual growth in their median prices, 84% of house markets and 75% of apartment locations have delivered growth in the most recent quarter.
This reflects the recovery in prices that was under way as we entered the Covid-19 period and the strong price resistance shown by many Sydney markets during the shutdown phase.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Sydney property market hit hardest by coronavirus crisis: Hotspotting's Terry Ryder

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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets that are under pressure from sharply reduced demand and surging supply particularly from previous holiday accommodation now converting to the permanent market. Conversely house rents are on the rise Indicating perhaps Increased demand for larger, outer suburban homes.

Sydney average asking rents for units fell by 2.3% over November but rents for houses Increased sharply by 2.5%. Perth rents continue to rise for both houses and units. Capital city rental markets continue to report diverging results with significantly lower and falling vacancy rates for houses offset by higher rates for units. This reflects sharply falling demand and increased supply of units - particularly in inner-city Sydney and CBD Melbourne.

HOUSE AND UNIT RENTAL VACANCY RATES 

Reflecting rent declines In the unit market, vacancy rates continue to Increase In Melbourne and Sydney - remaining at record levels. Vacancy rates for houses are significantly lower in all capitals by comparison with units and likely to continue to place upward pressure on rents.

HOME LOANS 

ABS home lending data reported another Increase over October with owner-occupier loans continuing at unprecedented levels. Total residential lending increased by 1.1% over October and has risen by 16.8% over the first 10 months of this year compared to the same period In 2019. All buyer types reported increases over October however, remarkably, lending for first home buyers now exceeds that reported for Investors. All states, with the exception of Victoria reported Increases In the total value of housing loans approved over October. Similarly, only Victoria failed to record an Increases In first home buyer lending over October, falling by 5.9%.

Although lending for first home buyers has surged this year driven by numerous state and federal government Incentive policies, levels remain well below those recorded during the post GFC revival period In 2009-10. Lending for new home building continues to be a significant contributor to the recent surge In home lending reflecting In particular the Impact of the recently extended federal government HomeBuilder policy.  Victoria continues to clearly record the highest number of loans for home building followed by QLD and WA.

HOME BUILDING 

The surge In lending for home building Is also been reflected In rising house building activity over recent months. Latest ABS building approvals for October were however lower in Sydney and Melbourne over the month but significantly higher In Brisbane and sharply higher In Perth.  Despite recent rises In home building approvals, underling levels, particularly for units, remain well below previous peak levels.
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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets, according to Archistar's Chief Economist Andrew Wilson.

urban.com.au

Unit rents continue to fall across Melbourne and Sydney

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The combined capital cities are expected to see auction activity ramp up over the week, with a total of 2,593 properties set to go under the hammer, according to CoreLogic data. This week’s scheduled volumes are 24% higher than last week’s final figures which saw 2,085 auctions held. Plus this time last year, a higher 2,804 homes were taken to auction across the combined capitals.

There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week. Melbourne is expected to be the busier of the two with 1,153 properties scheduled for auction, an increase of 28% on last week. Sydney isn’t far behind with a total of 1,037 auctions scheduled to take place, an expected rise of almost 20%.

While activity across Melbourne has certainly bounced back from the lows seen throughout most of the second half of the year, volumes are still below 2019 levels with 1,405 homes taken to auction over the same week last year. Meanwhile one year ago in Sydney, volumes were lower at 875.

The remaining smaller markets are all expected to see a rise in activity over the week, with Brisbane set to be the busiest of the smaller cities with 147 auctions scheduled to take place. This is followed by Canberra (115), Adelaide (101), Perth (36) and Tasmania (4).

One example of a property headed to auction in Melbourne this weekend is an apartment at 705/547-551 Flinders Lane. The one-bedroom, one-bathroom apartment in Docklands sits on the top floor of Morgan Place. It goes to auction with a guide of between $291,000 and $320,000.

The apartment sits near the Docklands project Melbourne Quarter at 628 Flinders Street, developed by Lendlease. The Fender Katsalidis-designed East Tower has 719 apartments, a mix of one and two bedrooms which are for sale starting from $458,000. 
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There are over 1,000 homes set to be taken to auction across each of Australia’s two largest auction markets this week.

Auction volumes up 20% or more across Melbourne and Sydney 

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The penthouse at Fortis’ No.1 Carlisle development in Sydney’s Rose Bay, which was rumoured to have sold for an impressive $7.5 million last month, sold in less than three hours of launch.

Ray White agents Michael Finger and Di Wilson are rumoured to have secured $39,000 per sqm for the three-bedroom, two-bathroom apartment.

Situated on the top floor of the four-storey 1 Carlisle Road complex, the development offers direct lift access into the private lobby, an entertainers’ terrace and built-in living joinery.

Designed by MHNDU and Lawless &amp; Meyerson, the home utilises layered natural materials and an architectural design that pays homage to the Art Deco period.

“There’s a recurring linear texture echoed around the apartment through fluted glass and routed stone”, said Jo Lawless of Lawless &amp; Meyerson.

The penthouse includes an entertainer’s kitchen, gas fireplace, butler’s pantry and skylights. Other features within the home include a privately-landscaped rooftop terrace styled by Wyer &amp; Co landscape architects.

Construction on the project is expected to reach completion in early 2022.

<h2>Rose Bay luxury residences</h2>

The downsizer market in Rose Bay has boomed with many developments gracing the eastern Sydney suburb. These include the recently sold-out Newcastle Street development, The Benson and Richmond Rose.

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-benson-33-newcastle-street-rose-bay?last_source_news_article_id=41288&amp;ref=news_related_project" rel="gallery-all" title="The Benson"><img alt="" class="image-article-full-width-580px" height="481" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-benson-33-newcastle-street-rose-bay-64799b46e7e39113cb2e87135af83a7d.jpg?itok=HEYEdtMw" title="The Benson" width="580"></a>

<figcaption>The Benson</figcaption></figure>Developed by Fortis, prices at the nine residence Benson project equated to $30,000 per sqm, with designs also completed by MHNDU and Wyer &amp; Co. The home’s interiors, which offered contemporary design, quality fixtures and pale-oak flooring, were designed by Hecker Guthrie.

Veteran children’s TV presenter Don Spencer purchased in the development just last month.  

Richmond Rose, developed by Kew Prestige, continues to offer available apartments at their 6-8 Richmond Road site.

<figure><a class="colorbox colorbox-insert-image" href="/new-apartments/6-8-richmond-road-rose-bay" rel="gallery-all" title="Richmond Rose"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/richmond-rose_outside_lge-scaled.jpg?itok=cgwWtAp-" title="Richmond Rose" width="580"></a>

<figcaption>Richmond Rose</figcaption></figure>Two three and four-bedroom apartments sit on each level, featuring open-plan dining, a pet wash bay on the ground floor and Tesla battery for power storage.

Lush balcony landscaping seems to be a feature of all new Rose Bay developments with The Aristocrat of Rose Bay also featuring foliage in the design.

Located at 62A Dover Road, the Aristocrat offers 22 two and three-bedroom configurations, a grand lobby, communal courtyard, a pool and a gym. Designed by PBD Architects, the homes include quality joinery, open-plan living and dining, spacious balconies and herringbone floors.

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-aristocrat-of-rose-bay-62a-dover-road-rose-bay?last_source_news_article_id=41288&amp;ref=news_related_project" rel="gallery-all" title="The Aristocrat"><img alt="" class="image-article-full-width-580px" height="398" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_aristocrat.jpg?itok=OSf3L21a" title="The Aristocrat" width="580"></a>

<figcaption>The Aristocrat</figcaption></figure>Rose Bay is located just seven kilometres east of Sydney and these developments provide evidence of the demand for new luxury developments in the area.
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The downsizer market in Rose Bay has boomed with many developments gracing the eastern Sydney suburb

max.kwok_55688

Rose Bay's No.1 Carlisle penthouse sells within three hours

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Entering the Sydney market as a first home buyer can seem like a daunting task and finding affordable housing in NSW's capital often proves difficult, especially when you don't know where to look.

If you're a first home buyer or your budget is on the tighter side, here are six residences you can get for $600,000 in Sydney and its surrounds.

1. <a href="/buildings/vicinity-point-30-32-guess-avenue-wolli-creek">Vicinity Point, Wolli Creek</a>

One-bedroom apartments from $465,000 
Address: 30-32 Guess Avenue, Wolli Creek NSW 2205

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2016563265_1_1_201019_044310-w1600-h1200.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/2016563265_1_1_201019_044310-w1600-h1200.jpeg?itok=FrbuhJiz" width="580"></a> <a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/vicinity-point-30-32-guess-avenue-wolli-creek-08ae804af7915941dbf2e9b21f3f7993.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/vicinity-point-30-32-guess-avenue-wolli-creek-08ae804af7915941dbf2e9b21f3f7993.jpg?itok=obzOFLh6" width="580"></a>

In Sydney, scoring an apartment for less than $500,000 is a steal – and just 15 minutes from Central Station sits Wolli Creek’s luxury development, Vicinity Point, at a price range that will suit the budget of first home buyers.

Located near the Cooks River, Vicinity is offering a one-bedroom, one-bathroom residence with a car space at $585,000 or without the car space at $465,000.

The modern apartments are “strikingly contemporary”, the marketing reads, offering stylish kitchens, neutral colour palettes and oversized terraces. Developed by Level 33, Vicinity Point is located nearby riverfront parkland, cycleways and Kogarah Golf Club.

2. <a href="/buildings/bloom-arncliffe-213-princes-highway-arncliffe?last_source_news_article_id=39412&amp;ref=news_related_project">Bloom Arncliffe, Arncliffe</a>

One-bedroom apartments from $595,000 
Address: 213 Princes Highway, Arncliffe NSW 2205

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/imagegen.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="368" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/imagegen.jpeg?itok=SLUzfm9I" width="580"></a>

Bloom Arncliffe features timeless design by EJE Architecture, offering a selection of one, two and three-bedroom ready-to-go apartments from $595,000. Located closeby Sydney’s southern beaches, the project is perfect for a first-time owner or smart investor.

The one-bedroom apartments offer sweeping views of the Sydney CBD and Botany Bay, floor-to-ceiling sliding doors and a private balcony, and features onsite amenity including a ground-floor marketplace with restaurants.

3. Central at the Langston, Epping

One-bedroom apartments from $590,000 
Address: 12-22 Langston Place, Epping

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cbus6315.9-roi_renders-domain-1440x1080-4_1200x550.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="266" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/cbus6315.9-roi_renders-domain-1440x1080-4_1200x550.jpg?itok=NJIxUyoc" width="580"></a>

The Langston community at Epping is set to become a vertical village, with exercise, shopping and co-working facilities, built on Epping’s highest vantage point. Central is the project’s second stage, offering a new 24-storey tower with the majority of apartments priced for first home buyers.

A one-bedroom, one-bathroom apartment at Central is priced from $590,000, offering amenities such as podium-level gardens, a wellness hub, pool deck and sky lounge. These apartments are also eligible for the NSW Government’s $10,000 first home owner grant, as well as other first home buyer schemes.

4. <a href="/buildings/kew-schofields-stage-1-rose-garden-23-27-schofields-road-schofields">Rose Garden, Kew Schofields</a>

Two-bedroom apartments from $495,000 
Address: 23-27 Schofields Road, Schofields NSW 2762

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kew-schofields-23-27-schofields-road-schofields-a22ac95f9735b71a52863378df6a8e35_0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/kew-schofields-23-27-schofields-road-schofields-a22ac95f9735b71a52863378df6a8e35_0.jpg?itok=xBisHZk5" width="580"></a>

Located in Sydney’s fast-growing north-western corridor, The Rose is positioned moments from Rouse Hill and the future Schofields town centre. Two-bedroom apartments in the project are priced from $495,000, and feature contemporary finishes, barbeque facilities and outdoor communal spaces.

Whilst Schofields may not be the most attractive suburb for the first home buyer, the suburb offers an affordable entry point for a two-bedroom apartment and has seen its population grow by over 30 per cent in the past five years. The median value for both houses and units have steadily risen and will most likely continue to, as the metro links the nearby Tallawong station to Sydney’s CBD.

5. Aura, Canterbury

One-bedroom apartments from $588,000 
Address: 396-398 Canterbury Road, Canterbury NSW 2193

AURA offers first home buyers the opportunity to live in the Inner West with entry prices under $600,000. A one-bedroom plus study configuration begins at $588,000 and includes contemporary design, entertainer’s balconies and large courtyards.

Designed by Glyde Architects, AURA includes expansive open district and city skyline views as well as designer stone kitchens and wood texture cabinetry throughout. A security storage cage is available for all residents, making the home a smart decision for owner-occupiers and downsizers.
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Here are five residences you can get for $600,000 in NSW's capital and surrounds.

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