<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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.

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

<main data-perf-region="main">
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

Sydney

<html><body>
World-renowned classical ballerina Darcey Bussell and her fund manager husband Angus Forbes have snappily sold their Vaucluse home pre-auction.
Title Tattle gleans as much as $4.9 million was accepted.
The Federation Arts and Crafts property was bought in 2005 for $4.15 million, 18 months before Darcey retired as principal ballerina with the Royal Ballet.
The five bedroom, three bathroom home was<a href="https://www.mcgrath.com.au/buy/house-vaucluse-nsw-2030/225396/?searchID=41540890" target="_blank"> scheduled for 30 August auction with cautious $4 million-plus expectations</a> through McGrath agent Ben Collier, who acknowledged that the views of the harbour from the house had been diminished since its purchase.
It was Guy Strapp, then BT's investment chief, and wife, Pru, who sold have sold in 2005 for $4.15 million having bought it in 2003 from internet entrepreneur Mark Cramer-Roberts for $4 million.
It now only has harbour views from upstairs.
Another Vaucluse house at 47 New South Head Road sold at $7.5 million which was $500,000 over the reserve at Cooley auction.
An overseas-based buyer secured the Tuscan-style, five-bedroom, five-bathroom home sold by James McCowan of Sotheby's International by Monique and Boris Ulis, director of Pacific Union.
However the property had been listed back in mid-2008 with $7 million hopes, suggesting it was a long time waiting the current sales spurt.
</body></html>

jchancellor-FAypfDUnLy

Ballerina Darcey Bussell sells as Vaucluse prestige market takes flight

<html><body>
Sydney’s expensive property market is a source of debate and genuine concern for home buyers and renters.
Using RP Data’s latest statistics, we delved into the house and unit rental markets across New South Wales to discover where the most costly places are to rent.
Across New South Wales, there were 48 suburbs where it cost $1,000 or above to rent a house. We've altered our houses list due to the abundance of holiday rental areas that made their way onto the top ten. <a href="/news">Killcare</a> at $2,600 and <a href="/news">Hardys Bay</a> at $2,000 officially made the grade as the top two costly areas. 
The figures we have listed are the weekly median advertised rent.
TOP 10 NEW SOUTH WALES RENTAL SUBURBS FOR HOUSES
<ol>
<li>
<a href="/news">Dover Heights</a> - $1,850
</li>
<li>
<a href="/news">Bellevue Hill</a> - $1,800
</li>
<li>
<a href="/news">Double Bay</a> - $1,800
</li>
<li>
<a href="/news">Tamarama</a> - $1,800
</li>
<li>
<a href="/news">Vaucluse</a> - $1,800
</li>
<li>
<a href="/news">Northwood</a> - $1,650
</li>
<li>
<a href="/news">Mosman</a> - $1,500
</li>
<li>
<a href="/news">Clontarf</a> - $1,495
</li>
<li><a href="/news">Rose Bay</a> - $1,400 </li>
<li><a href="/news">Burraneer </a>- $1,400 </li>
</ol>
See over page for the top 10 most expensive suburbs in which to rent a unit.
<hr class="system-pagebreak">
TOP 10 NEW SOUTH WALES RENTAL SUBURBS FOR UNITS
<ol>
<li>
<a href="/news">Millers Point</a> - $930
</li>
<li>
<a href="/news">Cabarita</a> - $875
</li>
<li>
<a href="/news">The Rocks</a> - $850
</li>
<li>
<a href="/news">Darling Point</a> - $850
</li>
<li>
<a href="/news">Seaforth</a> - $848
</li>
<li>
<a href="/news">Tamarama</a> - $768
</li>
<li>
<a href="/news">Milsons Point</a> - $750
</li>
<li>
<a href="/news">Birchgrove</a> - $735
</li>
<li>
<a href="/news">Broulee</a> - $725
</li>
<li>
<a href="/news">Haymarket</a> - $720
</li>
</ol>
</body></html>

jduke-EHk3XBmHkn

New South Wales' 10 priciest suburbs to rent a house or unit

<html><body>
<form id="dateForm" action="https://www.mcgrath.com.au/buying/thisweek/" method="get" name="dateForm">
The most affordable Sydney property reported sold at the weekend was the two bedroom unit at 8/12 Palmerston Street, Kogarah (pictured above) at $415,000 through Raine and Horne.
It last sold at $120,000 in 1994, so over the two decades it went up 6.4% annually.
The agents had given buyer indications at $400,000 plus, so it was fractionally above estimate.
Property Observer checked the pre-spring guidance against 14 weekend sales results.
There was an average 11% difference above the pre-auction indication, with estimates ranging from 3% to 19% above.
The 11% weekend average was well below two weekends ago when <a href="/expert-insights/buying/paying-18-over-auction-estimates-sydneys-pre-spring-price-spurt">the 10 offerings under review averaged 18% above guidance</a>.
</form>
<table style="width: 460px;" border="1" cellpadding="0">
<thead><tr>
<td width="171">
Address
</td>
<td width="206">
Suburb
</td>
<td width="136">
State
</td>
<td width="199">
Price Guide
</td>
</tr></thead>
<tbody>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-petersham-nsw-2049/227011" target="_blank">9A Audley Street</a>
</td>
<td width="206">
PETERSHAM
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,100,000 SOLD $1.236m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-randwick-nsw-2031/233458" target="_blank">1/37 Prince Street</a>
</td>
<td width="206">
RANDWICK
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,150,000 SOLD $1.25m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-surry-hills-nsw-2010/232445" target="_blank">129 Arthur Street</a>
</td>
<td width="206">
SURRY HILLS
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,500,000 SOLD $1.67m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hurstville-grove-nsw-2220/232536" target="_blank">85 Waitara Parade</a>
</td>
<td width="206">
HURSTVILLE GROVE
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,250,000 SOLD $1.4M
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-bellevue-hill-nsw-2023/225270">9/10 Aston Gardens</a>
</td>
<td width="206">
BELLEVUE HILL
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $725,000 SOLD $865,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-randwick-nsw-2031/232988">44 Howard Street</a>
</td>
<td width="206">
RANDWICK
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,700,000 SOLD $1.765m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-beverley-park-nsw-2217/125435">54 Battye Avenue</a>
</td>
<td width="206">
BEVERLEY PARK
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,300,000 SOLD $1.5m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-epping-nsw-2121/230260">106 Midson Road</a>
</td>
<td width="206">
EPPING
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,400,000 SOLD $1.65m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-north-curl-curl-nsw-2099/231760" target="_blank">5 Ian Avenue</a>
</td>
<td width="206">
NORTH CURL CURL
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,700,000 SOLD $1.75m
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-woonona-nsw-2517/231444" target="_blank">33 Railway Parade</a>
</td>
<td width="206">
WOONONA
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $700,000 SOLD $780,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-balmain-nsw-2041/233342" target="_blank">8/3 Rosebery Place</a>
</td>
<td width="206">
BALMAIN
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $800,000 SOLD $925,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-cammeray-nsw-2062/232790" target="_blank">18/20 Warwick Avenue</a>
</td>
<td width="206">
CAMMERAY
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $650,000 SOLD $690,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hornsby-heights-nsw-2077/202677" target="_blank">14 Brett Avenue</a>
</td>
<td width="206">
HORNSBY HEIGHTS
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $750,000 SOLD $815,000
</td>
</tr>
<tr>
<td width="171">
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-marrickville-nsw-2204/233753" target="_blank">7 Park Road</a>
</td>
<td width="206">
MARRICKVILLE
</td>
<td width="136">
NSW
</td>
<td width="199">
Over $1,150,000 SOLD $1.361m
</td>
</tr>
</tbody>
</table>
</body></html>

Buyers needed to add 11% to weekend Sydney pre-auction price guidance

<html><body>
With some 704,000 bonds amounting to $1.043 billion in its care, the NSW Rental Bond Board’s annual report shows some interesting trends that investors I think will find interesting.
Let's look at some of the facts from the 2012-13 annual report.
The raw numbers firstly show that bonds held increased by 3.4% over the number held at 30 June 2012, new bonds increased by 2.8% but the number of refunds was far less at only 0.8%. This shows how tight the rental market was in NSW; the average bond paid was $1,483. Investors in residential property might also be interested to know that February appears to be the month when most tenancies change over after a slump in demand in January. As might be expected most tenants move out of their accommodation in December and February.
It also appears that the majority of investors use a managing agent, as real estate agents lodged 89% of bonds.
The Board’s annual report also gives a very clear picture about the relative size and growth in demand as new bonds paid are examined by postcode groupings. Across metropolitan Sydney the biggest rental markets are the Eastern Suburbs with 50,513 bonds, followed by Western Sydney (41,432) and St George (36,071). However the Board’s figures show that the three areas with the biggest increases in bonds, and hence tenancies (available supply) where: South Sydney 8.7%, Western Sydney 6.6% and Parramatta Hills 5.0%. The areas with the highest median rentals were Inner Sydney and South Sydney with growth rates of 5.4%.
An interesting observation from these figures is what appears to be an even spread of growth south, east, west and south, although in combination the west is dominate with 119,252 tenancies.
Outside of the metro area the three biggest rental markets, as measured by the number of bonds paid were: the North Coast 55,401, Greater Newcastle 35,949 and Penrith/Windsor 32,009. It was somewhat surprising to see the Central Coast in fourth spot with 29,255 tenancies. The areas with the biggest increase in supply were: Penrith/Windsor with 5.9%, Dubbo &amp; North West 5.2% and Campbelltown 5.1%.
Between 2011/12 and 2012/13 the population growth for NSW was approximately between 1.2 and 1.4%, but over the same period the Board’s figures indicate that tenancies grew at a much bigger rate of 2.7 and 3.3%. While by no means conclusive, this contrast does clearly show that many people have relied upon rental accommodation and would indicate continued demand into the immediate future.
This is a very noteworthy annual report, it points to strong demand for rental accommodation, a trend towards longer lease terms, a well-managed private rental market with quality and stable tenancies. All of which are factors that given the extent of the Board’s activities underline the appeal of residential property investments.
The Board invests tenant bonds and the income is used to fund a number of programs including Tenant’s Advice and Advocacy ($4.63 million, this is a program jointly funded by the Board and Fair Trading), Credit Counselling, No Interest Loans Schemes and Aged-care Rights Services – many of these programs are of wider community benefit, but they along with the functions of the Board itself, helps to create a stable and transparent rental market. I think this is a positive and important function for investors, as it helps create very stable administration within a large rental market of some 704,000 individual tenancies.
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Sydney rental market continues to tighten with trend towards longer leases

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Offering VIP access for those registering in their “first time offered” marketing, North Sydney’s Lucent offers 211 apartments spanning 17 levels.
The $200 million <a href="https://lucentnorthsydney.com.au/" target="_blank">Lucent</a> development from Greenland Holding Group, marketed by CBRE, includes one, two and three bedroom apartments are available from $528,000, many of which have parking.
It has city and harbour views and has interiors from architectural firm Turner Studio.
Facilities include a rooftop infinity pool, a rooftop garden and an outdoor barbecue area. It also has a fully equipped gym and deck.
In April, Greenland <a href="/expert-insights/buying/greenland-centre-launches-second-sales-stage">launched the second sales stage of their Greenland Centre development</a> after all 300 apartments offered in the first sales release have been sold.
It was the <a href="/news/nsw/chinese-breathing-competitive-life-into-sydney-high-rise-scene">Chinese company's first development in Australia</a>, with Lucent representing their second Sydney offering.
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Lucent, North Sydney apartments "first time offered" marketing

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Harry Triguboff’s Meriton Group has bought the DEXUS Property Group business park in Rosebery spending $190 million for the 4.9-hectare offering.
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DEXUS Property Group sold <a href="https://www.realcommercial.com.au/property-offices-nsw-rosebery-5497126" target="_blank">5-13 Rosebery Avenue</a> (pictured above) and 25-55 Rothschild Avenue in Rosebery, Sydney, with trading profits to be realised in FY15 and FY16. 
It is expected that the sale will contribute approximately $17 million to FY15 trading profits and materially increase trading profits in FY16 contributing approximately $74 million pre-tax. 
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The business park which had a book value of about $100 million was sold through JLL’s Michael Fenton, Sam Brewer and Blair Peterken.
Meriton now has 14,000 units in its pipeline as more than 1000 apartments will be built at the 4.9-hectare site.
There are eight mature Hills Fig trees on the boundary of 5-13 Rosebery Avenue with City of Sydney studies having identified these trees as a local landmark and as a defining feature of the precinct. 
5-13 Rosebery Avenue is a recently refurbished, 10 level office building within close proximity to Southern Cross Drive, the Eastern Distributor and Sydney Kingsford Smith airport.
During the year DEXUS undertook a total of $5.4 billion transactions across the group, including the joint acquisition of the $3.4 billion CPA portfolio with CPPIB. 
The CPA transaction, completed in April 2014, increased the value of the office portfolio to $7.6 billion.
DEXUS today announced its 30 June 2014 results. 
Dexus Property Group said its full-year net profit fell to $406 million. Revenue in the year rose 7.2% to $700 million.
In FY15, DEXUS has a trading profit target of $40 million.
DEXUS chief Darren Steinberg said it had progressed the sale of 40 Market Street, Melbourne which is expected to contribute to FY15 trading profits.
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Amid heritage fig trees Meriton spends $190 million on DEXUS Rosebery business park

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The Roche family has secured $58 million plus for its Balmain waterfront industrial site, the former headquarters of their former Nutrimetics cosmetics business.
Toga Group is believed to be the buyer of <a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1634869" target="_blank">100 Elliott Street</a>, according to the Australia Financial Review.
It is a 12,375 square metre site - with development approval for 121 apartments - on the banks of the Parramatta River.
<a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1634869" target="_blank">Knight Frank agents Peter Krieg and Domenic Ong</a> marketed the property which had a 30 July expressions of interest deadline.
Bill and Imelda Roche sold Nutrimetics to the Sara Lee Corporation in 1997.
 
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Roche family secures $58 million plus for former Balmain Nutrimetics HQ

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The rapidly growing Sydney, that has forecasts numbering more than 1.6 million additional people by 2031 and 664,000 new homes needed, has seen numerous plans for its future and growth.
Growth Infrastructure Plans and the Precinct Support Scheme are among the initiatives being used to support expected growth. Another of these is the Urban Activation Precincts – essentially, 11 different areas with the aim of providing more properties that can easily access infrastructure, transport, services and jobs.
A frequent mantra in property investing is to <a href="/expert-insights/investing/follow-the-infrastructure-trail-to-find-future-growth-suburbs">follow government spending and upcoming infrastructure projects</a>, as well as strong population growth, to get in early to the hotspots.
According to the NSW state government, the choice behind the 11 areas was based on locations they could provide affordable and diverse housing with “good access to infrastructure, particularly transport”. It applies to both greenfield and infill locations.
“Precincts are envisaged as being larger areas, usually made up of multiple land-holdings. They will be capable of delivering significant additional growth and require coordination from State and local government to realise their potential,” explains the guideline to why these areas are selected.
The first eight announced in March 2013, with the final three on this list announced this month. There have been varying levels of progress in each, with some left uncertain as other planning projects and community consultation are explored. We have detailed some of the more prominent factors below.
North Ryde Station
<ul>
<li>12.5 hectares of land rezoned 
</li>
<li>Maximum building heights around the station (reduced from initial plan of 108 metres) set at 92 metres 
</li>
<li>More than 2.4 hectares of parks and open space expected 
</li>
<li>An estimated 3,000 homes and 1,500 jobs within 10 minutes of the station 
</li>
<li>More than $17 million worth of transport upgrades</li>
</ul>
Epping Town Centre
<ul>
<li>Rezoning is complete, as from March 2014 
</li>
<li>Funding arrangements being worked through with Parramatta City Council and Hornsby Shire Council 
</li>
<li>Strong demand for residential development currently 
</li>
<li>Expected increase in demand for retail development</li>
</ul>
Herring Road, Macquarie Park
<ul>
<li>Changes to land use zonings, building heights and densities are proposed 
</li>
<li>Expectation for increased housing, commercial, retail, education and recreation development 
</li>
<li>New connecting streets, footpaths and cycleways proposed 
</li>
<li>Existing market demand for new housing and employment identified 
</li>
<li>Around 54 hectares of the 247 hectares rezoned to provide 3,750 new homes 
</li>
<li>Rezoning allows buildings of between eight and 22 storeys within 400 metre radius of the railway station (for residential and commercial mixed uses) 
</li>
<li>Up to five storeys allowed in selected residential areas</li>
</ul>
Randwick
<ul>
<li>The current process was on hold for three months after December 2013 community consultation 
</li>
<li>Feedback to again be sought 
</li>
<li>Precinct spans parts of Randwick, Kensington and Kingsford, and includes UNSW, Prince of Wales Hospital, Randwick Children’s Hospital, Randwick Racecourse and NIDA</li>
</ul>
Anzac Parade South
<ul>
<li>The current process was on hold for three months after December 2013 community consultation 
</li>
<li>Feedback to again be sought 
</li>
<li>Precinct includes corridor around Anzac Parade from south of Kingsford to La Perouse</li>
</ul>
The list of Urban Activation Precincts continues on the next page. Please click below. 
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Carter Street, Lidcombe
<ul>
<li>Strong connections to Sydney Olympic Park suggest it will benefit from government infrastructure investment 
</li>
<li>Currently under consideration after a public exhibition period</li>
</ul>
Proposals:
<ul>
<li>More than 5,500 new homes, including townhouses and apartments 
</li>
<li>Buildings of primarily four to six storeys along east-west streets, six to eight stories along main streets and parks, and up to 20 storeys on five specified sites 
</li>
<li>Retail centre with up to 12,000 square metres of shops and services along Uhrig Road 
</li>
<li>Corporate offices and a business and technology park on 11.4 hectares along the M4 corridor</li>
</ul>
Wentworth Point
<ul>
<li>Rezoning completed in June 2014 
</li>
<li>Two residential neighbourhoods, with a total of 2,300 apartments in buildings spanning up to seven storeys and six buildings of up to 25 storeys 
</li>
<li>New primary school with 18 classrooms 
</li>
<li>Marine facilities may be possible 
</li>
<li>Funding arrangements being discussed with Auburn Council</li>
</ul>
Mascot Station
<ul>
<li>Plan is currently on hold pending details of the WestConnex project 
</li>
<li>Higher density housing demand has been identified 
</li>
<li>Residential redevelopment is currently well-advanced in the area surrounding the station, which was formerly industrial land 
</li>
<li>Scope to expand the redevelopment area</li>
</ul>
Kellyville Station
<ul>
<li>Investigation over potential land uses in the precinct being undertaken 
</li>
<li>Precinct includes the area around the future station, part of the North West Rail Link 
</li>
<li>Boundary is based on nearest road boundary – within 800 metres of the station or a 10 minute walk</li>
</ul>
Showground Station
<ul>
<li>Investigation over potential land uses in the precinct being undertaken 
</li>
<li>Precinct includes the area around the future station, part of the North West Rail Link 
</li>
<li>Boundary is based on nearest road boundary – within 800 metres of the station or a 10 minute walk</li>
</ul>
Bella Vista Station
<ul>
<li>Investigation over potential land uses in the precinct being undertaken 
</li>
<li>Precinct includes the area around the future station, part of the North West Rail Link 
</li>
<li>Boundary is based on nearest road boundary – within 800 metres of the station or a 10 minute walk</li>
</ul>
The Property Council of Australia (PCA) has said that the latest three additions to the list are sensible decisions. However, they've noted that to deliver on housing targets, the state government will need to reject a claim from the local council to increase apartment sizes, explained PCA NSW executive director Glenn Byres.
"The scale of investment in the new rail line is unprecedented so it makes sense to leverage off it with new hot spots for growth," said Byres.
"Escalating population growth in our west means we need to hasten investment in new housing and employment opportunities," he said, noting that lifting densities will improve housing yield in the targeted sites.
“But we also need councils to play their part and ensure local planning controls reflect the objective of adding to the vibrancy of key centres," he said, pointing to the Hills Shire Council's consideration of planning controls that may increase apartment sizes by as much as 50%, limiting availability of one-bedroom apartments.
“The state will need to reject the claim because the changes risk increasing construction costs by up to $65,000 per apartment and limit the ability of developers to meet market demand," he said.
The PCA are also encouraging a fast-tracked approach to these three areas.
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The 11 Sydney areas every property investor should know: Urban Activation Precincts

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Planning policy changes have allowed 2,500 Western Sydney home sites to be instantly brought online, according to Minister for Planning Pru Goward.
Yesterday, Property Observer wrote that <a href="/expert-insights/building/numerous-sydney-areas-rezoned-to-allow-for-higher-density-developments">multi-storey residential towers are expected to be built in many parts of Sydney as numerous areas undergo a rezoning</a>. Community pushback to development applications are likely.
The changes to the Growth Centres State Environmental Planning Policy are expected to bring greater diversity, affordability and meet the needs of the growing population in the area, said Goward.
“The changes mean a Western Sydney home buyer will have more choice of home type, and may also save up to 10% on the cost of their new home,” she said.
“The NSW government has accelerated the release of land to keep up with demand, and now we are providing more choices and allowing for more affordable options for Western Sydney families.”
The amendment allows smaller lot sizes, and medium density builds, that Goward believes will keep house and land packages under $400,000.
Growth Centres will now face the same planning controls, as well as a faster subdivision and home building approval process.
The changes will permit townhouse and villa-style housing, detached homes on a number of lot sizes, detached dwellings on small lots in medium density zones and studio dwellings to be strata subdivided from the main house so they can be sold as a separate dwelling.
Standardised minimum lot sizes, new approval pathways, standards for subdivision and house design and more opportunities to use the 10 day approval process for new homes on smaller lots have also been introduced.
“New suburbs in Western Sydney are expected to be home to half a million people over the next 25 years so it’s crucial for us to get the planning right now,” Goward said.
“This good future planning is supported by the NSW government’s record investment in transport infrastructure servicing these areas through the North West and South West Rail Links and work to complete Sydney’s motorway network.”  
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Planning changes instantly unlocks 2,500 Western Sydney homes

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Sydney’s residential vacancy rates are on the rise, with July recording a 0.2% increase to 2.0%, according to the Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey.
REINSW president Malcolm Gunning notes that more apartment stock entered the marketplace, which may be behind some of this increase.
“Inner Sydney vacancy rates led the way with an increase of 0.1% to 2.0%, while the outer suburbs increased 0.4% to 1.9%. The middle suburbs bucked the trend with a fall of 0.2%, but remain at the neutral level of 1.9%,” said Gunning.
“We expect this growth in rental accommodation to continue as even more new stock enters the marketplace.”
This has come at a time when ANZ Research’s David Cannington is seeing Sydney growth moderating, as Melbourne takes out top spot when looking at growth on a trend basis. Price growth year on year is sitting at 15.1% for Sydney, and 11.3% for Melbourne.
“Housing market sales continued to reflect positive housing market sentiment in the past week, particularly in Sydney where elevated auction levels for this time of year have cleared at greater than 75% for the fifth consecutive week,” noted Cannington.
He notes that elevated auction clearance rates, for both Sydney and Melbourne, are foreshadowing strong sales demand and further house price gains in the remaining 2014 months.
Outside of the Sydney area, vacancy rates have been recorded as a mixed picture. In the Hunter, a 0.5% increase was recorded, despite a 0.3% decline in Newcastle. Illawarra increased by 0.3%, while Wollongong remained steady at 2.1%.
New England, however, has hit an 11 year high, up to 4.2% with a 0.2% increase recorded. In October 2003, the last time it was this high, it recorded 4.8% vacancy. The South Coast is up 1.4%, with Central West has dropped 0.5%.
Murrumbidgee’s vacancy rate was up 0.5%, while Albury increased by 0.7%.
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