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

Joel Robinson

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

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

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

Sydney

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Restaurants in Potts Point have been caught in the fallout of liquor laws aimed at late night Kings Cross night spots.
The restaurants failed to tally the amount, in millilitres, sold each hour and submitted quarterly.
The special licence conditions were introduced last year for venues serving alcohol in the Kings Cross entertainment precinct, following community concerns about alcohol-fuelled violence.
They are now being reviewed a year into its operation.
Of the strikes incurred under the special conditions, 11 have been for restaurants, cafes and small bars that failed to provide alcohol sales data, the Office of Liquor, Gaming and Racing's report shows. 10 were in Potts Point.
Under the tough licensing conditions, all venues in the precinct licensed to trade after 8pm are required to report their alcohol sales every night between 8pm and 5am across eight categories, including light and full-strength beer, spirits and energy drinks. 
Kings Cross Liquor Accord chief Doug Grand, noting many small restaurants lacked the technology to automatically record their sales data, has asked the Office of Liquor, Gaming and Racing to exempt small venues with no history of violence from the requirements.
Mai Train, whose popular Potts Point Vietnamese restaurant Bay Bua has received one strike, said the reporting requirements were confusing and time-consuming. 
"Nobody gets drunk in a Vietnamese restaurant," she told Fairfax Media.
Another venue pinged under the new rules was Panhandlebar, a 52-seat cafe and wine bar established by Stephen Marks who said ordinarily his annual licence fee would be $400, but having incurred a strike, it could potentially rise to $5400. 
The NSW Small Business Commissioner Robyn Hobbs said she would meet with affected business owners next week, following a request from independent Sydney MP Alex Greenwich.
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jchancellor-FAypfDUnLy

Restaurants caught in Kings Cross liquor laws fallout

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Parts of Western Sydney are set to be switched over to the National Broadband Network, with small businesses being urged to contact their phone or internet provider as the switchover isn’t automatic.
Around 3,600 premises in Penrith will be switched over on 20 February, with a further 1,200 being cut over on 17 April. On 20 March, 2,600 premises in Blacktown, 3,600 in Homebush and 2,600 in Riverstone will be moved over. Then on 17 April, 6,100 premises in Windsor/Richmond and 2000 in Lidcombe will be cut over.
Businesses and commercial property owners with an emergency lift phone and/or a fire indicator panel need to register their details with the NBN Co before the cutover date by calling 1800 687 626.
Small businesses with an EFTPOS terminal, fax or alarm system need to contact their service provider (for example, the bank that supplies their EFTPOS terminal) to check whether the NBN is compatible with their devices.
Meanwhile, owners of medical alarms and medical alert systems need to register the devices by calling 1800 227 300 or completing the online form at nbnco.com.au/medicalregister.
“We are particularly urging people with special equipment including EFTPOS terminals and medical and security alarms which operate using a landline phone connection to contact their preferred phone company and internet service provider as soon as possible,” NBN Co spokesperson Darren Rudd said.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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asadauskas-o9wSWMRiAW

NBN switchover date approaches for Western Sydney suburbs

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Lakemba is located 15 kilometres south-west of Sydney's CBD, in the Canterbury local council area.
It's bordered by Wiley Park to the west and Belmore to the east. Lakemba railway station, in the centre of the suburb, is serviced by the Bankstown line. The 450 bus also delivers residents to Burwood, through Roselands and Strathfield and to Hurstville, via Roselands.
This year, as buyers increasingly focussed on Sydney's middle ring western suburbs to find affordable properties, Domain Group senior economist Andrew Wilson says Lakemba saw strong results.
"The numbers look very good for Lakemba," says Wilson. Australian Property Monitors recorded a median house price of $750,000 in Lakemba for the six months to November, up from $645,000 in the previous period.
The <a href="https://www.realestate.com.au/property-house-nsw-lakemba-118155211" target="_blank">three bedroom house</a> below sold for $750,000 in late November. The brick house on a 534 square metre plot had been held by the vendors for 23 years. They paid $149,000 for the house in 1991.
<img src="/images/2014/12/19/house.jpg" alt="">
In the six months to November 2014, median unit values increased from $337,750 to $360,000, according to Australian Property Monitors.
"That's very strong growth," he says. Wilson predicts the strong growth will continue next year, but will eventually slow.
"Sydney's still set to be the best performer of all the capitals next year. There's still a lot of energy in the market.
"Generally, Sydney house price growth is declining, from double figures over the last two years, per year.  It's gone from around 15% per year to 11%, and next year will probably see around 7% growth.
"Most suburbs will move in line with that. Lakemba, particularly in units, still has a close to double figure growth left in it," he explains.
According to Wilson, units in Lakemba are still in a range generally considered to be affordable, particularly given the suburb's location and local amenities.
A <a href="https://www.realestate.com.au/property-unit-nsw-lakemba-117981363" target="_blank">two bedroom apartment</a> in the eight-unit complex pictured below sold for $358,000 in early December. The elevated ground floor unit with a registered car space was bought by the vendor just a year and a half ago, for $260,000. In that time, after receiving fresh floorboards and new carpet in the bedrooms, its value has increased by 37.7%.
<img src="/images/2014/12/19/unit.jpg" alt="">
"Inner middle ring suburbs in Sydney always attract buyers, and it's all part of that search for more affordable options," says Wilson.
"The area is well serviced by transport and infrastructure, and of course, the NSW economy is doing very well.
The area's main retail strip is along Haldon Street, with a variety of stores and restaurants. There are a number of schools in the area, including Lakemba Public School, Hampden Park Public School and Holy Spirit College.
According to the Australian Bureau of Statistics, the Lakemba - Wiley Park area had a population of 27,228 as of 2012. 76% of Lakemba - Wiley Park residents spoke a language other than english at home in 2011.
In 2011, labourers made up the largest proportion of wage earners in the Lakemba and Wiley Park area, accounting for 19.5% of the area's paid workers. 15.0% of the area's wage earners described themselves as professionals, and technicians and trades workers made up 12.7% of wages earners.
Wilson explains that those who cannot afford Sydney's inner western suburbs are increasingly considering properties in Canterbury, Bankstown or Croydon Park. He expects the majority of buyers in the area are and will continue to be owner occupiers, given its affordability.
After a strong 2014, Wilson predicts that in 2015, Lakemba is "still set to be a popular suburb in a moderating market".
You might also want to read: Why I wouldn't buy an old home Sydney's western suburbs. 
Photo of Halden Street, Lakemba courtesy of Blu3d/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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jrichardson-uRX5hFdKfN

Suburb spotlight: Lakemba presents affordable options for owner occupiers

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GUEST OBSERVATION
So two weeks ago I babbled on about how <a href="/expert-insights/time-for-a-reality-check-property-prices-certainly-can-and-do-go-down">Sydney property prices will go down in value</a> and how many property buyers live in a fantasy world where they don’t think it will or has ever decreased.
So I thought I would go into one Sydney suburb, diagnose the stats and show you that it can be a reality for this suburb.
There was no science in choosing Castle Hill as the suburb of choice. I didn’t troll through pages and pages of data to choose this particular suburb though.
Looking at the latest CoreLogic RP Data stats as at September 2014, <a href="/news">Castle Hill</a> has a median house price of a whopping $982,000.
Yep that’s right, its going to cost you just shy of a $1 million to buy in Castle Hill. In fact, it will probably cost you more. Even a three bedroom unit sold over weekend for $920,000. Yes, a unit.
According to CoreLogic RP Data it has grown in value 19% in the last year and 49% over the last five years. So in English, in 2009 you could buy in Castle Hill for $650,000.
With an average ‘days on market’ of 29 days, it is showing that the market is still red hot. So I would assume that we will see the magic million mark passed by Christmas, if not already.
Yields have failed to keep up, like many Sydney suburbs. They do their best work in a quiet market where no new houses are being built and the supply dries up. That said, the median rent is $650 per week.
So forget investing there, with a yield at 3.4% you can achieve this in a bank account without the risk. It’s one of those suburbs where it is cheaper to rent than to purchase! And the volume of sales, 576, shows significant numbers that can be relied upon. Be wary of sale figures in a low sales volume environment.
Now we need to add some income and other fun facts into the mixing bowl from the 2011 Census. Of all the working families, 41% had one major breadwinner whilst the other partner either worked part time or not at all. The suburb averages three people per dwelling and they own two cars.
The median family income is $2,059 per week – that’s a tidy $107,068 per annum.
But hang-on, that’s the whole household income and that’s gross before tax. So take home in hand is $1,487 per week, well for 41% of families it is.
Now lets go back and look at the house figures again and put the income and other stats in.
Let’s stick with the median house price at $982,000. If you were to purchase with a 20% deposit you would require around a $230,000 deposit and have a loan for $785,600. With an interest rate of 4.8% the principle and interest payments it equals $951 per week over 30 years.
That’s a whopping 63.9% of your net income per week going towards your mortgage. Does that sound like it makes financial sense? Better hope interest rates do not ever go up, or that you have a child, or both. That’s a recipe for bankruptcy.
But hang on, wasn’t the average people per household three? Oh, so they do want to have a family and a house in Castle Hill. Uh oh.
Now I have gone and checked with the banks that they would even lend you the money, and I can confidently tell you that even the banks are not that crazy. So if that’s the case, then how are people affording to buy these properties if the banks wont give them a loan that size?
Well, there are possibly several answers here:
<ul>
<li>They have larger than 20% deposits</li>
<li>They could be investors from other suburbs, so their incomes are different</li>
<li>The lower incomes earners may have owned property for a while when prices were lower</li>
<li>The higher income earners are buying the properties today</li>
</ul>
As the median income is the middle income achieved in the area, this means there are certainly income earners on a higher income than $107,000. It is more than likely these people, who are on incomes of $135,000 or higher, who are purchasing properties at this level. Doing some numbers here on servicing and income categories, it is those families in the top third percentile that could only realistically afford properties at this level. 
But hey, let’s go crazy and pretend interest rates will go up (we all know that never happens) and let’s say they go up to 8% – that same scenario above with the higher income earner at $135,000 can no longer afford to get that loan.
Can they afford to make the loan repayments though?
$785,600 principle and interest at 8% equals $1,329, which equates to 73% of their income, which leaves them $485 per week for:
<ul>
<li>Food to feed a family of three</li>
<li>Fuel for two cars</li>
<li>Rego</li>
<li>Council &amp; Water rates</li>
<li>Alcohol and possibly cigarettes</li>
<li>Bills</li>
<li>School fees</li>
</ul>
So it could potentially be done, but you would be living on bread and water and in reality this family would go bankrupt.
Remember my tip: Always do your sums on 9%.
And the figures are telling me that this is going to be a common story for Castle Hill in the coming years.
The numbers are leaning towards a suburb that is living well beyond its means and I would say that there a little of the “keeping up with the Joneses” going on here too and that’s a recipe for one mighty price correction.
TODD HUNTER is buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
Picture of a Castle Hill house courtesy of Wikimedia Commons.
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thunter-umjjMzoT8b

Falling down Castle Hill: Diagnosing a suburb living way beyond its means

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All three of the latest surplus Millers Point terrace offerings failed to sell at auction earlier this week.
The properties were being sold with an unregistered plan of subdivision.
The result ended the stellar run which began in August for the state government disposal.
<a href="/news/nsw/state-government-millers-point-terrace-sell-off-continues-apace">The Georgian-style properties</a> were built by local publican William Cole in the 1840s.
The properties were at 24 Argyle Place and 28 Argyle Place and 32 Argyle Place.
The initial six properties sold at Millers Point netted the state government around $15 million.
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Millers Point stellar selloff hits subdivision stumbling block

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Sydney’s vacancy rate, according to the November 2014 REINSW Vacancy Rate Survey, now sits at 1.7%. This figure was also that posted for Sydney <a href="/expert-insights/buying/perth-and-darwins-vacancy-increases-alarming-sqm-research">by SQM Research</a>.
With the figure representing a balanced market sitting at the 2.0% mark, REINSW president Malcolm Gunning has said that the vacancy rate suggests that supply isn’t meeting demand.
“Therefore we question the Australian Prudential Regulation Authority’s (APRA) concerns and recommendations for banks to tighten their lending criteria to investors,” Gunning said.
Inner Sydney availability dropped 0.1%, to 1.5%, while outer Sydney increased 0.3% to 1.7%. Middle Sydney fell 0.2% to 2.0%.
“Declines in the inner and middle Sydney were leveled out by the increase in the outer areas. The lows in Inner Sydney have not been seen since February 2013. It is a third month in a row that vacancy rates have been stable at 1.7%,” he said.
Newcastle, the Illawarra, Coffs Harbour, the South Coast and the Northern Rivers also saw drops in vacancy rates.
Meanwhile, the Hunter region remained steady, while Wollongong, the Murrumbidgee, New England, Albury, South Eastern all increased.
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jduke-EHk3XBmHkn

Sydney’s vacancy rate doesn’t justify APRA recommendations: REINSW

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Architecture practice Rothelowman has capped an impressive year by scooping a number of prestigious awards recently. In addition to collecting UDIA Awards for Excellence in both Victoria and Queensland, earlier this month, UDIA Victoria also named Rothelowman as Consultancy of the Year.

The Victorian acknowledgement covers a commendation for Medium Density Development via their Lex Apartments design in South Yarra, as well the Award for Excellence in the Urban Renewal category for the adaptive reuse of Tip Top Brunswick.  Regular readers will be aware of Apartments.com.au's coverage of the Tip Top development, both from a <a href="/news/public-permeability-and-the-tip-top-brunswick-east-development">urban perspective</a> and also as an <a href="/news/little-projects-current-success-and-future-intent">onsite guest</a> of Little Projects Managing Director Michael Fox.

<figure><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/img_0779_0.jpg" rel="gallery-all" title="Rothelowman's Tip Top Brunswick upon completion"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/img_0779_0.jpg?itok=WzmdVSUI" title="Rothelowman's Tip Top Brunswick upon completion" width="580"></a>

<figcaption>Rothelowman's Tip Top Brunswick upon completion</figcaption></figure>With 2014 the most successful year of Rothelowman's 23-year history in which the firm on average was commissioned to commence a new project every second day, Rothelowman have built upon their success by recently opening a Sydney office.  Apartments.com.au spoke with the new Principal of Rothelowman's NSW/ACT branch, Ben Pomroy recently in order to explore what lies ahead for the Harbour City and Rothelowman.

Having worked in an architectural practice elsewhere in Sydney Ben joined Rothelowman seven months ago with the Melbourne-based firm already enjoying a Sydney presence by way of a well-earned reputation with national clients.  It's this national understanding mixed with firsthand knowledge of Sydney's planning and design landscape that Ben believes will propel the Sydney practice forward rapidly.

Questioned on the state of the Sydney residential market Ben suggests that Sydney has been somewhat sluggish in recent years, although 2015 will bring the Harbour City back in line with Melbourne and Brisbane, which are both enjoying buoyant markets.  B-Point Tower seen below is the maiden Sydney project and features a 22 storey residential apartment building with146 apartments plus 7,900sqm of Gross Floor Area.  

<blockquote>
Through innovative design and spatial planning, Rothelowman have created a contemporary and sophisticated building that sits in direct contrast to its older style high rise neighbours. A true mixed use building, the blend of residents across all age groups, and a highly active ground plane provides a look at the future for Burwood CBD.

In a new and evolving context of taller buildings in Sydney, Rothelowmn have designed an iconic tower for Burwood Town Centre. The articulated and active retail podium sits directly adjacent the main train station. The podium responds to the immediate lower scale context, with the tower setback above street level to respond better to the district scale and access expansive views to the Sydney CBD.
<cite><a href="http://www.rothelowman.com.au/projects/project/135/bpoint-tower">B-Point Tower, rothelowman.com.au</a></cite>
</blockquote>

The Burwood project leads a string of projects, a mix of high and low rise, along with mixed-use buildings currently on the drawing board.  Though there a target number of projects/apartments to be delivered per annum has not been set, Ben points out that Sydney has suffered several consecutive years of dwelling supply shortfall relative to demand.  Prosperity for both Sydney and Rothelowman appear certain.

<figure><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/image2bp.jpg" rel="gallery-all" title="Burwood's B-Point Tower. Image courtesy Rothelowman"><img alt="" class="image-article-full-width-580px" height="755" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image2bp.jpg?itok=ZcyHlUPX" title="Burwood's B-Point Tower. Image courtesy Rothelowman" width="580"></a>

<figcaption>Burwood's B-Point Tower. Image courtesy Rothelowman</figcaption></figure>Local knowledge also comes into play, with the design dynamic naturally differing between each city. Recognising that New South Wales planning controls too play a part, with existing laws very much catered toward low and mid-rise multi-unit developments as opposed to high-rise apartment living. As Ben suggests, this leads to implications on apartment sizes and configurations, which require a new design approach if they are to be adapted to taller buildings. Commenting on the changes that are currently in motion, Ben said Sydney is “waking up" to high-rise amenity with New South Wales planning controls for high-density living realigning more closely with Victoria's.

Also managed via Rothelowman’s Darlinghurst office is the firm’s ACT and regional New South Wales operations. With many organisations and government departments holding national interests in Canberra, Ben sees the ACT yielding strong results. Though geographically small, Ben believes the ACT is a high-quality market that he is actively exploring.
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silvermb

Rothelowman's expansion plans pay dividend

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Sydney has between 10%-20% growth left in the upward residential cycle over the next few years, according to estate agent John McGrath.
"Periods of ups and downs are to be expected, particularly after a big surge in prices, so next year we might see some months where median prices rise and fall," he said.
"Prices could be fuelled by share market fluctuations, economic factors and interest rate movements."
McGrath tipped after "incredible" price growth in Sydney in 2013 and 2014, he was "expecting the market to slow down in 2015 but not go backwards".
He affirmed his high hopes for the Brisbane market <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/whats-in-store-for-property-in-2015/" target="_blank">in the Switzer blog</a>.
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Sydney residential price growth will slow, but not go backwards: John McGrath

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Another near-record number of Sydney homes went under the hammer with 979 weekend auctions.
It ranked as the fourth highest day for auctions this year and the fifth highest ever.
Around 400 auctions are scheduled just five days before Christmas.
The weekend result, according to the initial Australian Property Monitors (APM) report, was 75%, with the prior weekend revised down to 65%.
The inner west hosted 172 auctions followed by the south with 141, but the busiest suburb for auctions was Blacktown in the west with 15, followed by Mosman on the lower north shore and Epping on the upper north shore each with 14.
APM had nine sales among the 10 reported results at Blacktown.
The price ranged from $497,000 for a three bedroom cottage <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011604082" target="_blank">at 41 Maloney Street</a> (pictured above) to $902,000 for a four bedroom, 10 year old home on a large 1162 square metre block at <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011625163" target="_blank">2a Felicia Place</a>. Starr Partners were saying $799,000 plus for the pricey offering.
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Blacktown secures strong auction success among busy Sydney auction weekend

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Sydney celebrity couple Anthony and Terry Minichiello have bought a home in Vaucluse.
Selling agent Mark Meyer of LJ Levi listed the two-storey house two weeks ago with 2015 auction plans.
There were $3 million plus hopes for the late1970s/early 1980s, two storey, brick home. It was held by one family for 35 years, according to the marketing.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=118621211&amp;theme=rea.sold" rel="photos" data-id="118621211"><img src="https://i1.au.reastatic.net/456x342/66b96bfe1fafea8788eb41aaa7f6c8d769025faecd9e1a6f6c3ccde06674da25/main.jpg" alt="163 Hopetoun Avenue, Vaucluse" title="163 Hopetoun Avenue, Vaucluse" data-index="0"></a>
Vaucluse's median house price is $3.37 million, <a href="/news">according to CoreLogic RP Data</a>, down on its $3.78 million peak in 2010.
Since the birth of one year old daughter, Azura, the couple had been house hunting through buyer’s agents, <a href="https://instagram.com/p/wf-XY6BlVw/" target="_blank">Hastings Property</a>, Title Tattle gathers. They only wanted to buy in Vaucluse. 
The retired Sydney Roosters captain Anthony Minichiello and shoe designer wife Terry Biviano sold their Bondi Beach penthouse for just shy of $2 million in July on delayed settlement terms.
The two-storey apartment with ocean views was bought in 2005 for $1.35 million, a year before the couple met.
Sunday Telegraph columnist Ros Reines recently suggested, given their strong fashion and sporting ties, "it would be easy to consider Biviano and Minichiello as Sydney’s answer to Posh and Becks".
“No, not at all,” <a href="https://www.dailytelegraph.com.au/entertainment/sydney-confidential/mini-and-me-are-not-a-little-version-of-posh-and-becks-terry-biviano/story-fni0cvc9-1227155087314" target="_blank">Terry advised Ros</a>, who's best known these days as a fiction novelist.
Reines's fellow Telegraph property columnist Kirtsen Craze doesn't sound convinced by Terry writing the Vaucluse couple’s "plain Jane family home is a far cry from their designer lifestyle".
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