<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>
Terry Ryder’s most recent Price Predictor Index, June to September 2014, looks at Sydney’s fastest rising markets for units and houses across the suburbs.
Within the <a href="https://www.hotspotting.com.au" target="_parent">hotspotting.com.au</a> list, Property Observer selected the 17 opportunities for investors who are looking to enter into the market for $500,000 or less. We have included the suburbs available in alphabetical order over the page, as well as noting whether houses or units were on Ryder’s radar. The price provided is the median for the unit or house market in the respective suburb.
Ryder notes that while Sydney’s metropolitan star remains the inner-city market, the west and south west are continuing their rise to prominence.
The City of Sydney won the overall list, with six suburbs on the Rising Fast list, which numbered some 68 opportunities (some being the house and unit markets in the same suburbs), and seven on a subsequent Rising Steadily list.
The report notes that sales levels in <a href="/news">Darlinghurst </a>have doubled in less than 12 months, with <a href="/news">Chippendale </a>and <a href="/news">Haymarket </a>experiencing a similar result.
<a href="/news">Pyrmont </a>was also a performer, with a 110% sales rise in nine months.
“We are concerned that inner-city Sydney will eventually have a similar issue to inner Melbourne, where far too many apartments are being built, but at this stage Sydney has no apparent over-supply issues and demand for city units continues to rise,” the report notes.
However, beyond the CBD, it’s out west that is rising fast – and providing a more affordable entry point.
“Heading west from the City, the municipalities of Parramatta, Blacktown and Penrith are rising, while in the south-west Bankstown, Liverpool, Campbelltown and Camden all have strong markets,” explains Ryder.
Blacktown LGA continues its strong position, Penrith LGA also recorded good results and Parramatta LGA is a standout on the rising steadily and the consistent list.
Camden LGA, Bankstown LGA and Campbelltown LGA also managed to achieve strong rising market results.
Turn the page to see the 17 Rising Fast suburbs with median prices at $500,000 or less.
<hr class="system-pagebreak">
17 affordable Rising Fast markets
<ol>
<li>Auburn (U) $375,000 
</li>
<li>Bankstown (U) $365,000 
</li>
<li>Blacktown (H) $450,000 
</li>
<li>Camden South (H) $465,000 
</li>
<li>Cranebrook (H) $435,000 
</li>
<li>Greenacre (U) $469,000 
</li>
<li>Hinchinbrook (H) $500,000 
</li>
<li>Homebush West (U) $470,000 
</li>
<li>Ingleburn (H) $385,000 
</li>
<li>Jamisontown (H) $435,000 
</li>
<li>Jamisontown (U) $289,000 
</li>
<li>Kellyville Ridge (U) $440,000 
</li>
<li>Lakemba (H) $315,000 
</li>
<li>Liverpool (U) $300,000 
</li>
<li>Merrylands (U) $379,000 
</li>
<li>Roselands (U) $367,000 
</li>
<li>Westmead (U) $432,000</li>
</ol>
Source: hotspotting.com.au
Key:
(H) Houses
(U) Units
 
For more information on the report see <a href="https://hotspotting.com.au/reports/%20" target="_blank">Terry Ryder’s latest reports available here</a>.
</body></html>

jduke-EHk3XBmHkn

Sydney’s fastest rising markets under $500,000: Terry Ryder

<html><body>
A $50 million hotel in Palmerston’s CBD has been given development approval, as Stage One of the Maluka Views development project.
The 161 room hotel, including 32 suites and 41 short stay apartments, will be behind The Hub on Roystonea Avenue, and is being created by local investors John ‘Foxy’ Robinson and Mick Burns.
Peter Chandler, Minister for Lands, Planning and the Environment, said that with two suburbs currently under construction and the area growing it’s crucial to utilise the CBD.
“This site has sat vacant for many years and the government has released it for development through our urban infill strategy which has identified 70 parcels of Crown land across the Territory which could yield up to 2,700 dwellings,” said Chandler.
“Hotel accommodation is under immense pressure, especially in the Dry, this development will bring online much needed rooms for the developing City of Palmerston.”
Stage Two of Maluka Views will be residentially-focused, with a mix of commercial, retail and alfresco dining to be offered.
Robinson said that they have confident in Palmerston’s growth.
“There are 50,000 people living in Palmerston and the Rural Area and there is nothing of this standard for them to access,” Robinson said of the decision to pour funds into the project.
</body></html>

DA approval for $50 million 161-room Palmerston hotel development

<html><body>
John Watson, one of the most powerful men in the local music industry, has listed his Randwick home. 
Through the years he has managed Missy Higgins, Daniel Johns (and before that Silverchair) and Cold Chisel to name but three.
His four bedroom, three bathroom property has been listed for 7 August auction <a href="https://www.ppdre.com.au/1P0520" target="_blank">through Jason Pantzer at Phillips Pantzer Donnelly</a>.  It last traded at $2.48 million in 2005.
The renovated two storey home is in the dress circle position opposite Centennial Park on its 745 square metre parcel of level land.
The four bedroom home was designed by architect Harry Levine showcasing its classic Federation origins.
John Watson and his wife, Belinda hope for $3.75 million.
</body></html>

jchancellor-FAypfDUnLy

Music manager John Watson lists Randwick home

<html><body>
Chris Howe, from Bossley Howe Architects, and his tax lawyer wife, Betsy-Ann, have finally sold their Vaucluse residence.
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-108528346">The Hopetoun Avenue offering</a> with four bedrooms plus office house, comes with soaring ceilings.
It also came with $8 million hopes back in 2010, with the first of its eventual seven agents who have had the listing.
It was up for upcoming July 25 auction with hopes of $6.9 million.
There's plenty of glass, wood, sandstone, and travertine throughout its large open-plan interiors.
Its grounds come with pool, ponds, decks, balconies and garden. 
Covering 420 square metre, the house was built in 2008 on 787 square metre of land.
Howe suggested this was the first high-end, contemporary house in Australasia that was fully carbon neutral on energy use.
Property Observer ccolumnist Margie Blok wrote of its innovative design and cutting-edge sustainability when she viewed the house.
“It’s greener than a tree house," Blok was told. She was particularly impressed with the passive heating and cooling systems using double glazing, stack ventilation, evaporative cooling, thermal mass and external automated louvres.
The block traded at $2.95 million in September 2006.
</body></html>

Architect Chris Howe sells Vaucluse trophy home, finally

<html><body>
GUEST OBSERVATION
If NSW and Sydney are representative of the market dynamics on the national scale then there is a straightforward answer to question “Where to buy?”
Centrally located properties in the capital city offer the best return long-term for passive property investors, whether owner occupiers or those buying to let.
A Common Dilemma
Property buyers face a choice between more affordable properties which offer attractive rental yields but are further away from the city centre or in regional locations, or more expensive properties in central locations but with possibly much lower rental yields.
Many property advisors would recommend the first option, as it offers better cash flow from day one with reduced capital commitment, all things being equal.
However, for passive investors the second option is a much more sensible choice. This also holds true for those who buy and hold properties over a long period and are not into more adventurous activities like buying to renovate or redevelop, looking for a quick flip, or to access an exceptionally high yield over a short period of time.
Let’s examine historical information that leads to this conclusion.
The Evidence
Housing NSW <a href="https://www.housing.nsw.gov.au/About+Us/Reports+Plans+and+Papers/Rent+and+Sales+Reports/" target="_blank">publishes quarterly sales statistics</a> for Local Government Areas (LGA) and the records date back to 1991 for many locations, totalling just over 22 years of data.
The information is grouped into inner, middle and outer rings for Sydney, as well as into regional centres (i.e. “Rest of Greater Metropolitan Region”) and the rest of NSW.
Simple analysis of changes in median prices over the past 22 years (from July 1991 to December 2013) reveals quite an interesting picture, as summarised in the table below:
<img src="/images/2014/07/15/Table1_change_in_median_prices_NSW.png" alt="">
The increase in median prices in LGAs located in the inner ring outstrips the rate of growth in any other region in NSW.
This is particularly the case with non-strata dwellings which increased over five times in the last 22 years (that is, December 2013 median price is now six times 1991 median price), comparing to 2.4 times rise for the “Rest of NSW”. The difference over the 10 year period is not as dramatic, with the exception of strata dwellings, but still the pattern is obvious.
The following map presents a 20-year perspective on median sale price growth of non-strata dwellings to highlight the key point [click image to launch interactive map]:
<a href="https://www.propertyobserver.com.au/https://mapdeck.com/256" target="_blank"><img src="/images/2014/07/15/SydneyGMR_20yr_price_change_by_region_.png" alt=""></a>
Let’s chart the relative change in median prices over time for additional insights.
<img src="/images/2014/07/15/Chart1_change_in_median_prices_NSW.png" alt="">
The picture is quite clear – over the long term, median prices grew faster in the metropolitan area than in the rest of NSW.
<img src="/images/2014/07/15/Chart2_Inner_Sydney_median_prices_Dec13.png" alt="">
 <img src="/images/2014/07/15/Chart3_Inner_Sydney_change_in_median_prices_Dec13.png" alt="">
Again, over the long-term median prices in the inner ring LGAs grew faster than for the rest of Sydney (with exception of a short period between 2000 and 2003).
Article continues on next page. Please click below. 
<hr class="system-pagebreak">
What It All Means
There are important clues in the above charts for property buyers. In particular:
<ul>
<li>The inner ring properties show higher volatility in median price movements at the time of economic uncertainty – which means, timing of purchase decisions is crucial and there are bargains to be found for those with contrarian views (or well informed!).</li>
</ul>
For example, median price for the inner ring increased from $515,000 in March 2009 to $822,000 in December 2013 – a jump of over $300,000 or 60% in just four and a half years, comparing to a $98,000 or 28% increase for the regional part of GMR. The bargain buys can deliver even more substantial returns than indicated by changes in median prices.
<ul>
<li>Between 2003 and the end of 2007, which is generally perceived as a period of no price growth in Sydney, the inner ring still recorded material gains in median prices.</li>
</ul>
This illustrates that attractive and desirable locations tend to maintain the momentum when the rest of the market stagnates.
<ul>
<li>Unless you buy two properties in the outer areas for the price of one in the Inner Ring, the math favours buying in the more expensive area.</li>
</ul>
That is, if you opt for a cheaper property instead of buying in the Inner Ring, even if that location experiences comparative price growth to the inner ring, the higher priced location would have delivered better overall profit.
For example, based on the above chart, a $100,000 property purchased in 1991 in regional part of Greater Metropolitan Region would quadruple in value to $400,000 by December 2013 (i.e. $300,000 rise). Not bad. However, a property purchased for a median price in the inner ring, which also quadrupled in value, would increase from $200,000 to over $800,000, delivering $600,000- a whopping $300,000 more- in capital gains.
“But the yield!” you may say. Well, in this case 1% or even 2% better rental yield on the cheaper property would not make up the difference.
<ul>
<li>Outer regions can outpace price growth of the inner ring properties over a short period and price growth in those regions generally lag the metropolitan region – which presents an opportunity for late comers who missed out on the “city boom”, including first home buyers.</li>
</ul>
However, since timing of the purchase plays a crucial role in catching the maximum price movement, investment in regional properties should be viewed as rather opportunistic (not to say speculative) and therefore as suitable for only more adventurous investors or buyers who are prepared to stick to their decision for a long time.
Zooming In For More Details
We know now that the inner ring offers the best opportunity for price growth but it has to be acknowledged that not all locations within the region perform equally well over time.
The following table summarises change in median prices in the last 10 and 20 years for LGAs located in the inner ring.
 <img src="/images/2014/07/15/Table2_change_in_median_prices_Inner_Sydney.png" alt="" style="line-height: 1.3em;">
Some locations are better for non-strata dwellings – <a href="/news">Marrickville</a> for example did quite well with median price increase of almost 4.5 times over 20 years, while other are more favourable for strata properties, like <a href="/news">Waverley </a>which increased by a similar proportion.
The map below highlights where the largest change in median prices was for strata dwellings over 20 year period [Click image to launch interactive map]:
<a href="https://www.propertyobserver.com.au/https://mapdeck.com/250" target="_blank"><img src="/images/2014/07/15/Sydney_LGA_20yr_price_change_strata.png" alt=""></a>
View all maps, <a href="https://mapdeck.com/?deck_id=22" target="_blank">click here</a>.
This illustrates that choice of location and compatible property type are very important considerations in making purchase decisions.
Another observation worth mentioning is that even the worst performing locations in the inner ring did better for strata and non-strata dwellings than the worst regional locations. This should give confidence to the first time buyers or novice investors that buying in the inner ring can compensate to some degree for less than optimal choice of specific location.
End Note
As a prospective buyer – whether investor, upgrader or first home buyer – you are facing three fundamental questions: What to buy?  Where to buy?  When to buy?
Each of these questions can have quite a complex answer, which I will continue to explore on Property Observer with detailed analysis as well as via regular features, like my monthly <a href="/expert-insights/buying/growth-slowing-but-no-sign-that-cycle-has-peaked-june-state-of-the-market-analysis">State of the Market reports</a>.
However, in the end, it all boils down to a simple, frankly quite boring but well proven formula – location, location, location! One cannot go wrong following this simple advice.
Arek Drozda is an independent property market analyst.
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Inner ring the best bet in Sydney and here's why

There has been a concerted media push recently to stoke the Melbourne versus Sydney rivalry, in light of Melbourne's booming apartment sector. All in all these articles have been written well and are quite informative, with a pinch of 'Yeah we're better than you' from either side for good measure.

<a href="http://theage.domain.com.au/real-estate-news/sydney-losing-tower-race-20140704-zsrcp" target="_blank">The Age</a> provided an overview of Melbourne's 22 towers beyond 200 metres (add <a href="/new-apartments/madison-grand-334-city-road-southbank">334-344 City Road</a> to the list) while also suggesting Sydney had a serious case of envy. Within the article Victorian Planning Minister Matthew Guy declares "Since 2010, 54 per cent more homes have gained building approval in metropolitan Melbourne than in Sydney and 11 per cent more than the entire state of NSW."

<a href="http://news.domain.com.au/domain/real-estate-news/youve-got-the-wrong-city-gvner-20140703-zsuuh" target="_blank">Domain</a> and <a href="http://www.afr.com/p/national/sydney_melbourne_in_biggest_city_oTvYbTsbP6iH0rriJTLoHP" target="_blank">AFR</a> have also chimed in with pieces alluding to Melbourne's population on target to overtake Sydney's in due course plus the spectre of there being a glut of rental properties on Melbourne's horizon.

The most surprising (or maybe not) find in researching the current development back and forth came when assessing The Australian's <a href="http://www.theaustralian.com.au/projectapartment" target="_blank">Project Apartment</a> publication, which in theory provides an overview of the nation's apartment sector.

There is nothing to suggest it isn't a national publication aside from the content of course. 32 glossy pages with only a half page spread dedicated to Melbourne's risk of oversupply. Even white-hot Brisbane barely rated a mention while the lion's share of content and advertising was dedicated to Sydney; the sun does surely shineth out of Sydney's...

Prime Minister Tony Abbott said of the The Australian this week "It has a national perspective, not a parochial one... The Australian alone is dedicated to our country." Upon first reading The Australian's Project Apartment publication, I'd rather dedicate it toward use in the throne room.

<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/image63.jpg" rel="gallery-all" title="Project Sydney... go figure"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="412" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/image63.jpg?itok=Jo47NpmQ" title="Project Sydney... go figure" width="580" /></a>

<figcaption>Project Sydney... go figure</figcaption>
</figure>

The Australian's cockamamie publication aside, the rippling of media attention on the topic does allude to a more genuine discussion point: there is a competitive and sometimes frictional dynamic between the two cities that spurs both forward.

Melbourne has been and continues to be the star performer in the eye of many an Asian property developer, to the point where the local scene is awash with apartment projects. Could Sydney benefit from Melbourne's success as our city approaches a peak in development activity?

The Harbour City is opening up to a wave of new boutique developers, with a focus on medium density developments as opposed to residential towers which is currently trending in Melbourne. A prime example is Melbourne-based Fridcorp's push into the Sydney market which recently yielded $100M in apartment sales within two hours.

Both cities are powering ahead in the development stakes, but as has been communicated to Apartments.com.au via an industry figure, the movement of top tier architectural firms and developers to Sydney indicates three things:

<ol>
	<li>Melbourne developers are 'market ready' and have been active and adept in a heated market for some time.</li>
	<li>Sydney is now white-hot with opportunity and is eclipsing Melbourne with job prospects.</li>
	<li>The Melbourne industrial landscape has engendered somewhat more of a 'constrained' construction climate.</li>
</ol>

I'd suggest that in a roundabout fashion, both cities feed off one another while maintaining distinctly different identities. Apartments.com.au will enlist the help of some industry players in future articles to further explore this topic.

Lead image courtesy de.wallpapersus.com.

silvermb

Observing the current Melbourne-Sydney development dynamic

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The third building in Parramatta’s $550 million Promenade development from Starryland Australia has been released, bringing 153 apartments to market.
On the northern bank of the Parramatta River, they follow Promenade’s first two buildings with 124 apartments, that sold out in May 2014 at launch.
The first two towers are currently under construction, expected to complete in late-2016.
It is expected that 11 towers will be built in total by Starryland Australia, which was <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">established by the 23rd largest publicly-listed company in China, Fuxing Huiyu Real Estate Co Ltd</a>.
A display centre at 1/28 Macquarie Street has been built for Building Three.
Marketing the project is Savills Residential, who expect interest from investors and owner occupiers.
Director of Savills Residential Projects, Irene Lau, said that there had been many young couples making their first property purchase.
“For business people the close proximity to transport, dining, shopping and recreational facilities were influencing factors,” said Lau.
Each apartment will have a balcony or courtyard, with the entire development to have 1.2 hectares of landscaped open space, a pedestrian bridge over the river and a walking/cycling network.
There will be six one-bedroom apartments, from $440,000 with 44.2 square metres to 49.4 square metres. Those with studies, of which there are another 17, are from $465,000, and span 46.7 square metres to 69.9 square metres.
The majority will be two-bedroom apartments, with 125 up for sale from $585,000. They are sized from 63.1 square metres to 98.8 square metres. Lastly, there will be five three-bedroom apartments from 83.8 square metres to 112.4 square metres, and priced from $850,000.
Each apartment has one or two secure car spaces, with 70 visitor slots allocated.
Parramatta Lord Mayor John Chedid said that it’s an exciting development and called it a “welcome addition to our expanding skyline”.
<a href="/expert-insights/buying/slab-to-be-set-on-highest-residential-tower-in-parramatta-v-by-crown-today">Chedid previously was on site at nearby V by Crown development</a>, excited for the new developments in Sydney’s “second CBD”.
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Third building released in $550 million Parramatta Promenade project

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Bankstown, 20 kilometres south-west of Sydney, is seeing the introduction of 54 apartment creation Bankstown Gardens, from architect Tony Owen and property developer JR Investment Group.
Aiming to be favourable to the investor crowd, and to owner occupiers, the <a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3670&amp;wlid=274f147d-d2b9-4c0b-a8c7-73d07f77daab" target="_blank">Bankstown Gardens</a> development offers one, two, and three bedroom apartments spanning the eight storey block.
Sales commence this month, with one bedrooms from $385,000, two bedrooms from $466,000 and three bedrooms from $588,000. It appears the prices span to $670,000.
<img src="/images/2014/07/14/Bankstown%20Exterior.jpg" alt="">
The current median price for <a href="/news">Bankstown</a> units is $362,000 with median advertised weekly rent at $390.
Located on 6-8 Cross Street, they are a 10 minute walk from Bankstown Station.
Marketing the project is CPM Realty, with managing director Sam Elbanna noting that the idea is to bring city living to Bankstown. 
“There is a new level of sophistication spreading throughout Sydney and people are clamouring for a luxury style development in more affordable locations. This is what we are delivering in Bankstown Gardens,” said Elbanna.
The development has a completion expectation for early 2016.
In 2011, total works were expected to amount to $12,500,000. It appears it took some time to get approval from council.
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Bankstown Gardens development bringing 54 apartments to market

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Never has a commercial property sale been so loved! Celebrity publicist Roxy Jacenko has reportedly spent $2.66 million to buy commercial offices in Paddington.
And since she posted the news on her instagram page - along with picture of the sales contract - there have been 446 loves.
"Too excited about the purchase of our new HQ ! 7-13 Elizabeth St, Paddington," <a href="https://web.stagram.com/n/sweatybettypr/?npk=756756235115658913_28522142" target="_blank">Roxy posted</a>.
<div class="photobox">
<div class="mainimg_wrapper"><a class="mainimg" href="https://web.stagram.com/p/755293140740570576_28522142"><img src="https://scontent-b.cdninstagram.com/hphotos-xfp1/t51.2885-15/10523523_701550963249644_970224094_a.jpg" width="306"></a></div>
</div>
The 7-13 Elizabeth Street premises, on parkland opposite Paddington Public School on the southern side of Oxford Street, will be the ­headquarters for her Sweaty Betty PR firm and talent agency The Ministry of Talent.
The two-storey mixed use property comprises 250 square metres internal space, two kitchenettes and a private internal courtyard garden.
<a href="https://www.commercialrealestate.com.au/property/2011190631/for-sale/nsw/paddington/development-land" target="_blank">CBRE sold the property</a> which last traded in 2011 at $3 million.
The group is currently headquartered in ground floor space at 52 Queen Street in Beaconsfield, a 1920s property which her divorcing parents bought for $2 million in 1996.
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Roxy Jacenko secures Paddington office headquarters

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The Canberra Airport owner Terry Snow didn't find a buyer when his Harry Seidler-designed Rose Bay penthouse went to auction last month.
The entire 305 square metre upper level space comes with a price guide of $7 million plus.
The Canberra-based businessman paid $5.6 million in 2008 for the top floor apartment which has views of the harbour, bridge and CBD.
<a href="https://www.randw.com.au/1587368/" target="_blank">It is a duplex on Ian Street</a>. The home was designed by Seidler in the early 1980s.
The three bedroom apartment has lift access and a vast north west facing terrace.
The property is listed with Michael Dunn and Phoebe Shepperd of Richardson &amp; Wrench Double Bay.
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