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

<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

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

<html><body>
<div>
EXPERT OBSERVER
The Bureau of Statistics reports that Australian home prices fell by 2.4 per cent in the December quarter to stand 5.1 per cent lower over the year.
The number of established house and attached home transfers in Sydney fell to 13,991 in the December quarter – the lowest level in 15½ years.  
The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.2 per cent - the biggest lift in four months - to 111.9 points. But consumer sentiment remains below both the average of 114.3 points held since 2014 and the longer term average of 113.1 points since 1990.
Minutes of the last Reserve Bank Board meeting were released. The Board kept the cash rate unchanged at a record low 1.5 per cent on March 5 and said “members agreed that there was not a strong case for a near-term adjustment in monetary policy.
Rather, they assessed that it would be appropriate to hold the cash rate steady while new information became available that could help resolve the current tensions in the domestic economic data.” 
Home price data is important for retailers, especially those focused on consumer durables. The consumer confidence figures have implications for retailers, and other consumer-focused businesses. The Reserve Bank Board minutes provides guidance on interest rate settings.
</div>
<div>
What does it all mean?
The Reserve Bank released its monetary policy Board minutes today. Its neutral stance was retained with policymakers again highlighting tensions between softening economic activity and the solid labour market, with ongoing jobs market strength considered “particularly important” to its outlook. 
But the Board’s resolve continues to be tested by the property downturn, noting that “dwelling investment was expected to subtract from growth in output…. this decline could be sharper than currently expected.” In particular, policymakers appear particularly concerned about the spillover effect of falling property prices on household spending. 
And the negative wealth effect from falling property prices is most acute in Sydney and NSW with the Reserve Bank minutes highlighting that “growth in retail sales had been particularly weak in NSW….Some part of the slowdown in retail and motor vehicle spending in NSW was likely to have been related to declines in housing prices and, in particular, lower turnover in the housing market.” 
In fact, according to Bureau of Statistics data, the number of transfers of established houses and attached dwellings in Sydney has fallen to the lowest since March 2003.  
Consumer confidence bounces around from week-to-week. The lift in the value of the Aussie dollar last week likely boosted sentiment. But the tragic events in New Zealand on Friday would’ve been ‘front of mind’ for most Aussies, adding to the growing sense of consumer unease.
What do the figures show?
The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.2 per cent – the biggest lift in four months – to 111.9 points. But consumer sentiment remains below both the average of 114.3 points held since 2014 and the longer term average of 113.1 points since 1990.
Four out of the five major components of the index rose last week:
The estimate of family finances compared with a year ago was up from +2.0 points to +8.1 points;
The estimate of family finances over the next year was up from +22.2 points to +24.3 points;
Economic conditions over the next 12 months was up from -5.4 points to -0.9 points;
Economic conditions over the next 5 years was up from +5.4 points to +5.5 points;
The measure of whether it was a good time to buy a major household item was down from +23.4 points to +22.8 points.
The measure of inflation expectations fell from 4.1 per cent to 4.0 per cent.  
Residential property prices
The Bureau of Statistics (ABS) has released its Residential Property Price indexes for the December quarter. The ABS noted:
“The price index for residential properties for the weighted average of the eight capital cities fell 2.4 per cent in the December quarter 2018. The index fell 5.1 per cent through the year to the December quarter 2018.”
“The capital city residential property price indexes fell in Sydney (-3.7 per cent), Melbourne (-2.4 per cent), Brisbane (-1.1 per cent), Perth (-1.0 per cent), Canberra (-0.2 per cent) and Darwin (-0.6 per cent), and rose in Hobart (+0.7 per cent) and Adelaide (+0.1 per cent).” 
"Annually, residential property prices fell in Sydney (-7.8 per cent), Melbourne (-6.4 per cent), Darwin (-3.5 per cent), Perth (-2.5 per cent) and Brisbane (-0.3 per cent) and rose in Hobart (+9.6 per cent), Canberra (+1.8 per cent) and Adelaide (+1.5 per cent).” 
"The total value of residential dwellings in Australia was $6,677,797.4m at the end of the December quarter 2018, falling $133,057.1m over the quarter.” (The decline was 2 per cent).
“The mean price of residential dwellings fell $15,700 to $651,100 and the number of residential dwellings rose by 42,600 to 10,256,700 in the December quarter 2018.” 
CommSec estimates that the number of people per home was steady at 2.46 in the December quarter. 
The value of all dwellings in Australia in the December quarter was 3.9 per cent lower than a year ago. Over the year, the value of homes was higher in Tasmania (up 8.0 per cent); Queensland (up 2.5 per cent); South Australia and the ACT (both up 1.4 per cent). But home values were lower in NSW (down 6.6 per cent); Victoria (down 5.5 per cent); Northern Territory (down 4.9 per cent) and Western Australia (down 2.3 per cent).
The number of all homes in Australia rose by 42,600 in the December quarter and rose by 184,900 over the year.
Reserve Bank March Board minutes:
Economic outlook: “Looking forward, the central forecast scenario was still for growth in GDP of around 3 per cent over 2019.” 
Jobs market outlook: “…the central forecast scenario was still for a further decline in the unemployment rate to 4¾ per cent over the next couple of years. This further reduction in spare capacity underpinned the forecast of a gradual pick-up in wage pressures and inflation. Given this, members agreed that developments in the labour market were particularly important….leading indicators continued to suggest that employment growth was likely to remain above average, although some indicators had turned down a little recently.”
Wages growth: “Private sector wages growth had picked up further in the December quarter, consistent with the Bank's forecasts and survey evidence that a significant share of firms were finding it difficult to attract suitable labour.”
Consumer spending: “…there continued to be considerable uncertainty around the outlook for consumption given the environment of declining housing prices in some cities, low growth in household income and high debt levels.” 
Housing outlook: “Dwelling investment was expected to subtract from growth in output over the forecast period and, unless pre-sales volumes started to increase, this decline could be sharper than currently expected.”
Business lending: “Members observed, however, that the growth in business lending had been entirely to large businesses, with one estimate suggesting that lending to small businesses had declined slightly over the preceding year. There had been greater caution around lending to small businesses in response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. Lower housing prices had also reduced the value of collateral for loans to small businesses.”
Trade: “…the increases in tariffs implemented in 2018 had continued to weigh on trade between the United States and China, and there had been spillover effects on some other economies. Notably, a decline in Chinese imports, both to meet domestic demand and facilitate export production, had been apparent in export growth in the September quarter in east Asia. Intra-regional export growth had also eased.”
Inflation outlook: “While the labour market had continued to strengthen, less progress had been made on inflation.”
Change in rate stance: “..members assessed that the current stance of monetary policy was supporting jobs growth and a gradual lift in inflation. However, members noted that significant uncertainties around the forecasts remained, with scenarios where an increase in the cash rate would be appropriate at some point and other scenarios where a decrease in the cash rate would be appropriate. The probabilities around these scenarios were more evenly balanced than they had been over the preceding year.”
Rates on hold: “..members agreed that there was not a strong case for a near-term adjustment in monetary policy. Rather, they assessed that it would be appropriate to hold the cash rate steady while new information became available that could help resolve the current tensions in the domestic economic data.”
What are the implications for interest rates and investors?
Recent surveys suggest that most Aussie households remain cautious, preferring to pay down mortgage and credit card debt, rather than lift discretionary spending on household goods. The solid job market, however, has been a support for consumers, despite slow wages growth.
Consumer sentiment is expected to remain volatile, given increased household anxiety about their financial situation with home prices down and petrol prices up across the country. And recent news that the Aussie economy shrank for two consecutive quarters (in the second half of 2018) on a per capita basis - for the first time since 2006 - has weighed on consumers’ views of the economy. 
Given continuing uncertainty around consumer spending, the future direction of interest rates appears contingent on a continuation of solid jobs growth, tepid wages growth and a recovery in global economic activity in the second half of this year. But the ‘wildcard’ remains political uncertainty and business confidence, especially in NSW. If the state’s election on Saturday results in a hung parliament, business and consumer confidence could be eroded, despite unemployment being at multi-decade lows.
It appears that whoever wins Federal government in May will need to unleash some fiscal initiatives, including a bring-forward of proposed tax cuts, to encourage consumers to spend.
CommSec expects interest rates to be unchanged for the foreseeable future.
RYAN FELSMAN is a Senior Economist for CommSec
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney home sales activity hits 15½ year low: Ryan Felsman

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
EXPERT OBSERVER
The long delay of two and a half years by the NSW Government in processing the Central Sydney Planning Strategy does not send a good signal about the state’s planning system.
The City of Sydney Council, after waiting almost three years for the NSW Department of Planning to put the Central Sydney Planning Strategy on exhibition, is now organising its own exhibition. There is something wrong with our planning system ifthe key council for the Sydney CBD and the state government’s planning department are unable to agree on plans for the city since July 2016.
The City of Sydney plan included some positive elements in relation to taller buildings in the city, but the plan was negative in relation to encouraging a mixture of uses in the city that wouldi nclude residential towers.
The City Council as well as putting their plan on exhibition have also released a Draft Guideline for Site Specific Planning Proposals where sites can get additional height and floor space. The sites that get this uplift cannot contain residential or serviced apartment floor space and sites are encourage to be amalgamated. So only employment generating buildings can access the additional floor space. Clearly the City is trying to swing the pendulum away from residential development towards commercial development but most world cities are encouraging a mixture of uses so that they become active over 24 hours and 7 days a week.”
The Urban Taskforce supports a mixed-use approach to urban areas as many younger people are preferring an urban cosmopolitan life style where they live close to work. The same work / liveapproach should occur across all of Sydney’s urban areas and town centres. Major international cities are building mixed use precincts like Hudson Yards in New York and Battersea Power Station renewal in London. The success of projects like Barangaroo which mixes residential and commercial uses demonstrates that Sydney also wants this type of development.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The long delay of two and a half years by the NSW Government in processing the Central Sydney Planning Strategy does not send a good signal about the state’s planning system says the UrbanTaskforce.
The City of Sydney Council, after waiting almost three years for the NSW Department of Planning to put the Central Sydney Planning Strategy on exhibition, is now organising its own exhibition.” Says Urban Taskforce CEO Chris Johnson “There is something wrong with our planning system if the key council for the Sydney CBD and the state government’s planning department are unable to agree on plans for the city since July 2016.
The City of Sydney plan included some positive elements in relation to taller buildings in the city, but the plan was negative in relation to encouraging a mixture of uses in the city that would include residential towers.
The City Council as well as putting their plan on exhibition have also released a Draft Guideline for Site Specific Planning Proposals where sites can get additional height and floor space. The sites that get this uplift cannot contain residential or serviced apartment floor space and sites are encourage to be amalgamated. So only employment generating buildings can access the additional floor space. Clearly the City is trying to swing the pendulum away from residential development towards commercial development but most world cities are encouraging a mixture of uses so that they become active over 24 hours and 7 days a week.
The Urban Taskforce supports a mixed-use approach to urban areas as many younger people are preferring an urban cosmopolitan life style where they live close to work. The same work / live approach should occur across all of Sydney’s urban areas and town centres. Major international cities are building mixed use precincts like Hudson Yards in New York and Battersea Power Station renewal in London. The success of projects like Barangaroo which mixes residential and commercial uses demonstrates that Sydney also wants this type of development.
CHRIS JOHNSON is the Urban Taskforce CEO
</div>
</div>
</div>
</div>
</div>
</div></body></html>

cjohnson-8xfqfuuCSq

City of Sydney planning strategy delay by Government is bad: Chris Johnson

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Australia’s oldest surviving customs building, Customs House in Sydney, will become home to local coworking operator Hub Australia’s newest Sydney location.
This will be Hub's seventh location nationally with a footprint of over 21,000 sqm square metres.
As the country’s largest locally owned coworking operator, Hub Australia will occupy the entirety of levels three and four of the building, the only commercial office levels available.
Totalling 2,341 square metres Hub Customs House will feature five premium business suites which accommodate teams of 20 as well as offices for teams from one to 20 people.
The Customs House deal comes as Hub Australia’s original Sydney site, Hub William Street, is scheduled for closure on 31 March 2019, due to the current lease ending.
Many of the current Hub Williams Street members will relocate to the Hub Hyde Park site.
Hub Australia CEO and Founder, Brad Krauskopf, said, "the demand for quality coworking space is not slowing down, especially in Sydney where office vacancy has hit 4.1 per cent which is the lowest level since 2000."
"In addition to Customs House, we’re actively looking for more sites in the Sydney market... we are aiming to secure three or four new sites each year in unrivalled CBD locations and unique buildings.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/7/Hub%20Australia_Customs%20House_Cafe%20Void_Render%20credit%20Billard%20Leece%20Partnership.jpg" alt="">
“Customs House is a historic landmark building perfectly positioned in the evolving Circular Quay precinct. Our members will benefit from the central CBD location, multiple transport links including the future light rail and wider development in the area such as the Gateway dining precinct, Quay Quarter and Wanda’s One Circular Quay hotel and apartment project,” says Krauskopf.
Tom Buxton, Colliers, who negotiated the lease for landlord, the City of Sydney, said,  “Customs House will provide an outstanding space for Hub Australia’s latest site. The buildings stunning heritage features will complement the Hub Australia‘experience’ and provide its members with outstanding workspaces among some of the best amenity that a central CBD location like this provides.”
The building is also home to Customs House Library and, Café Sydney, as well as playing host to public events such as the National Young Writers Festival launch.
The historic building still features original heritage elements including sandstone feature walls, and original timber windows and door frames.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/7/Hub%20Australia_Customs%20House_Library_Render%20credit%20Billard%20Leece%20Partnership.jpg" alt="">
Hub Customs House is expected to open on 1 August 2019.
It is situated immediately adjacent to multiple public transport modes on Circular Quay,plus a 10 minute walk from Martin Place, 15 minute walk from Town Hall and five minutes from the Sydney Opera House.
</div>
</div>
</div></body></html>

Hub Australia secures new coworking site in Australia's oldest Customs House

<html><body>
A new report has found five Australian cities have placed in the top 50 worldwide in terms of residential price growth. 
The Wealth Report 2019, released by Knight Frank, tracks the movement of luxury residential prices in the world’s top 100 cities.
Last year showed Sydney at the top of the list of Australian cities with 3.1% prime price growth in 2018.
Australia's rankings were: Sydney (30), Brisbane (31), Melbourne (41), Perth (42) and Gold Coast (42).
Manila topped the rankings with 11% growth, attributed to a lack of supply and the Philippines’ thriving economy.
The index saw its lowest rate of annual growth since 2012 with prices rising on average by 1.3% down from 2.1% in 2017. 
According to Knight Frank’s Head of Residential Research, Australia Michelle Ciesielski: “The Australian prime market continues to track above the global average for luxury residential price growth over the year to December 2018, with Sydney topping the list for Australian cities on the PIRI 100 at 3.1% growth; Brisbane at 3%; Melbourne 2.2%; and Perth and the Gold Coast both at 2.1% price growth year-on-year.
“The price growth between prime global markets is converging – and Australia is no exception. The performance in 2018 saw all five Australian prime cities place in the top 50 of Knight Frank’s PIRI 100 – all five cities within 1 percentage point – when three years ago the range was closer to 19 percentage points.”
<img src="https://www.urban.com.au/images/2019/3/6/KF%20Cities.JPG" alt="">
Knight Frank’s Head of Residential, Australia Sarah Harding said: “According to The Wealth Report Attitude Survey, for the second year in a row, Australia has retained its position as the third most popular country for those planning to buy prime residential property globally in 2019 – behind the US and the UK. Australia remains a top destination for the ultra-wealthy due to multiple factors, including lifestyle, education, and political stability.
“Ultra-high-net-worth individuals dedicate a large portion of their wealth to property. This has been confirmed by the growth in the average number of homes owned by wealthy people around the world increasing from 2.9 to 3.6 over the past year. We found Australian UHNWIs owned three residential homes, on average, in 2018.
“Only 6% of ultra-wealthy Australians purchased prime residential property outside of Australia in 2018. This is relatively low when compared with other active countries in the Asia Pacific region such as South Korea (30%), Hong Kong (28%), Malaysia (27%) or China (25%).”
Ciesielski said prime residential growth has become more sustainable in most Australian cities on the PIRI 100.
“In Perth, early signs of business recovery and a strengthening office market had a positive impact with prime residential price growth rising from 1.3% in 2017 to 2.1% in 2018,” said Ciesielski. 
“Properties along the waterfront have remained popular with the downsizing generation, and the city still offers good value relative to other major Australian cities.
“The spotlight in 2019 will remain on the pace of recovery as the Western Australian resources sector continues to build.”
</body></html>

Five Australian cities in top 50 worldwide for residential price growth: Knight Frank

<html><body>
The top floor and adjoining rooftop of an office building in Sydney’s Clarence Street has been converted from an office space in to a small bar.
The tenancy area, at <a id="LPlnk916895" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZGUHy3spBOCCfFLglDoTHmqesgM+mcxwyUCRKS1hIdErI=&amp;rh=ff00472e71c63c37dd015ca7ab4d95943da1de41" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">4/199 Clarence Street</a>, was circa 88 sqm and came with an internal staircase to the rooftop above.
The site was leased by Ray White Commercial South Sydney’s John Skufris on behalf of a private owner.
Mr Skufris said the Old Mates Place team already secured a five-year lease of level 4, which was previously leased to an IT firm and had started trading after renovations.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/19/20190215_121234.jpg" alt="">
“The rooftop has been completed with a timber decking and an outdoor bar area with views to Centrepoint Tower,” he said. Known as Villa Rose, 199 Clarence Street is a six-level office building including basement area which is occupied by Spawn Point, another small bar operator.
</body></html>

Sydney office converted from workplace leased as rooftop bar

<html><body>
The Duke of Gloucester Hotel, located in Sydney's Eastern suburbs has been listed for sale with a price tag of $30 million.
HTL Property's Sam Handy and Daniel Dragicevich hold the listing.
This campaign follows the recent sale of a number of Eastern Suburbs pubs including the Centennial Hotel (Woollahra), Royal Hotel (Bondi) and Bondi's Icebergs Bar and Dining Room.
Affectionately known by locals as the 'DOG', the hotel has been operated under management by the Good Beer Company on behalf of a private syndicate.
“We’ve had several unsolicited approaches to buy the DOG in recent times and decided to put it to market to focus on our redevelopment of the Keg &amp; Brew”, commented owner John Azar.
The syndicate acquired the hotel in a discreet off-market transaction from Newhaven Hotels in 2015 for a reported $17 million and immediately activated a $3.5 million renovation, refurbishment and reconfiguration.
The hotel, which boasts a 2am liquor licence and only has 19 gaming machines makes annual revenues in excess of $8 million.
It was #425 on OLGR's Dec-18 quarter rankings and outside of some hardware upgrades, the gaming room has remained largely untouched since the sale some four years ago.
HTL Property's Director Sam Handy advised, "the Duke of Gloucester Hotel is surrounded by several TOP 200 gaming rooms, all with the maximum gaming machine holding of 30 machines."
"An incoming purchaser would be strongly advised to immediately increase the hotel’s machine holding from 19 to the allowable 30 and doubling the size of the gaming room by extending into the existing TAB and smoking area," he added.
Set on a 746 sqm landholding it is situated at the cross section of Frenchmans Road and Clovelly Road in Randwick.
Spanning two levels the holding consists of three bars, two kitchens, TAB, designated gaming room and multiple outdoor areas. 
The Duke of Gloucester Hotel is being sold via private treaty.
</body></html>

Sydney's Duke of Gloucester Hotel listed for $30 million

<html><body>
New data gathered by tradie jobs website ServiceSeeking.com.au reveals prices can vary significantly depending on your postcode.
Living in some suburbs can drive up the cost of hiring a tradie.
It suggests the diagonal divide between the north-east and south-west of Sydney is clearer than ever.
An excel file of the average hourly rates can be found <a id="LPlnk728416" href="https://serviceseeking2.apms5.com/anywhere/m?s=serviceseeking2&amp;m=s_4607f61d-4040-49b5-a3c8-d97d5c13f33c&amp;u=e1jq4wvfdtfk2hj260rk8d245mukcd1r5mu46da65mw44da65n2kgea38t23eh236n148&amp;r2=d1u78w3k78qjyxvqewq76tbjetmp6tbkcnjppubecwq66vvd5tgqabv2dhqpebv3entq8vvdcnt2yw3jd5hpjvk75nkqaub4cntjyv31ehu6abbcd5q6abbqd1jq4t9df5qqabbcd5v6abb4e9mqctbk5nuq0bb3dxtq8bbfcrppgubjd5q6ebbme9gp8tbkdnjpwbr&amp;n=2" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">here</a>. 
The website study noted towards the end of last year as tradie prices started to decline, residents of the inner city, eastern suburbs and the north shore were paying up to 140 per cent more for tradies than those living in the south and west.
ServiceSeeking.com.au mapped the average hourly charge-out rates of tradies across seven industries by analyising over 12,000 hourly rate quotes submitted on the site in 2018.
The map displays areas with prices above the average in red and areas below the average in green.
"The closer you get to the inner city and eastern suburbs, the higher the charge out rate," it concluded.
The most expensive suburbs are clustered around the inner city, east and north; most of the south and west (and outer north-west) of the city is the land of "milk and honey" (ie cheap tradie prices).
The geographical divide of the mapped tradie quotes bears a striking resemblance to the so-called "latte line" - north of the line is where the jobs are, while south of the line is where there's greater housing availability.
Jeremy Levitt, CEO of ServiceSeeking.com.au says tradies continue to lift their rates for customers they perceive as being better able to pay higher prices.  Property prices align with this trend too.
"While we've seen a cooling in the levels of demand for tradies, there are some pockets in Sydney where customers will pay significantly more for an hour of a tradies' time," Levitt said. 
"Tradies working in suburbs considered to be more affluent often increase their charge-out rates because they perceive their customers to be more capable of paying higher prices. In addition to this, these suburbs generally have a higher demand for renovation services."
A low supply of tradespeople above the "latte line" is also a factor, he noted.
"A lot of tradies are commuting from the south and west to the north and east for jobs," Levitt said.
Their hourly charge-out rates will incorporate overheads, including the cost of commuting along with insurance, vehicles, staff and tools.
The data also revealed some interesting pockets of low and high prices.
The cheapest prices for tradies are around the Blue Mountains, Milperra and Horsley Park where the average cost of a tradie is below $60 per hour.
There are also pockets of low charge-out rates in the north and east, which Levitt puts down to either "a low demand for renovation services or a perception that residents in these suburbs can't afford higher prices".
The data serves as a reminder to homeowners to shop around, Levitt said. 
"Renovators need to be sure to compare quotes and prices from numerous tradies to make sure they don't end up overpaying."
Click here <a href="https://www.propertyobserver.com.au/images/2019/2/25/Service-seeker.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Service-seeker.jpg" alt="">
Source: ServiceSeeking.com.au
The industries included in this analysis were: Source: ServiceSeeking.com.au
<ol>
<li>Handymen</li>
<li>Electrical Services</li>
<li>Plumbing</li>
<li>Carpenters</li>
<li>Painters</li>
<li>Concreters; and</li>
<li>Builders</li>
</ol>
</body></html>

Same service, different price: how postcodes affect the cost of hiring tradies 

<html><body>
Sydney’s current house price downturn is the sharpest in more than two decades, although the duration is yet to surpass the 2004-06 slump, according to Domain's latest House Price Report.
The report found that for the second time since Domain records began in 1993, house prices have fallen for four consecutive quarters, the only other period this occurred was in 2008. 
House prices fell 3.2% over the quarter and 9.9% over the year to $1,062,619. 
Unit prices fell 3.3% over the quarter and 5.8% over the year to $702,012.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said: "Despite the consistent quarterly moderations, the depth of the falls have not gained significant momentum. The pullback in price was anticipated given the stellar run of growth that lasted almost six years. Homeowners reaped an unprecedented gain of 89% over this period.
“Historical performance proves unit prices have a tendency to hold firmer than houses, with slumps being of shorter duration and intensity. Similar to houses, unit prices have also fallen for four consecutive quarters. The latest annual decline the steepest in more than 20 years, taking unit prices back to mid-2016 levels.
“Since changes to macroprudential policies began in late 2014, obtaining a home loan has become increasingly challenging. Although this has resulted in fewer buyers, it has removed the loans written on thin grounds. Having met more stringent lending standards, those who are active in the market are ready to transact.
"Astute investors, who are able to secure finance, may start to look to Sydney as they hunt for the right opportunity to purchase under softer market conditions. Educated investors will continue to take a careful approach, even with the 30% growth cap on interest-only loans lifted.
“Affordability is improving in the harbour city. First home buyers have fewer investors to compete against, greater choice and a wider window to make their purchase. This also provides opportunity for the upsize buyer. It may mean selling at a lower price point compared to the boom, but if buying and selling under the same market conditions, it is likely to be offset by a more affordable upsize purchase.”
<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Syd.JPG" alt="">
</body></html>

Sydney house prices have fallen 11.4% from their mid-2017 peak: Domain

<html><body>
The Sydney residential marketing is favouring renters with vacancies on the rise across all metropolitan areas, according to research from the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said the December 2018 REINSW Vacancy Rate Survey saw metropolitan Sydney vacancy rates up 0.2 percentage points to 3.2 per cent.
She stated, “The rise was driven by Middle Sydney which jumped 1.6 per percentage points to 5.1 per cent and Inner Sydney which rose 0.5 percentage points to 3.0 per cent. Outer Sydney increased 0.3 percentage points to 3.3 per cent.“
"Our feedback from agents suggests that the market is being flooded with new units making older units more difficult to rent."
“As a result agencies are using tactics such as decreasing rent prices and offering free rent periods to secure tenants,” Ms Pilkington said.
Meanwhile, in Wollongong the vacancy rate remained steady at 2.7 per cent, while other area’s in the Illawarra fell 2.0 percentage points at 1.0 per cent and contributed to an overall decline of 1.2 percentage points at 1.5 per cent.
In the Hunter region, vacancy rates rose 0.3 percentage points to 1.9 per cent with Newcastle up 0.1 percentage points to 1.9 per cent.
Across regional areas, Albury fell 0.4 percentage points at 2.2 per cent, New England dropped 0.1 percentage points at 1.9 per cent while Central Coast jumped added 0.1 per cent to 2.0 per cent.
</body></html>

Sydney's rental vacancies are increasing: REINSW

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Consistently larger quarter-on-quarter declines saw 2018 end with Sydney house values down 10 percent at a $918,000 median, according to CoreLogic's full year index.
Melbourne also saw an accelerated decline in house values to finish 2018 down 9.1 percent to a $751,000 median, with its inner east prices hit the hardest.
Units were not as hard hit in the two major capitals, with Sydney unit values down 6.3 percent to $711,000 and Melbourne unit values down 2.3 percent to $541,000.
Overall dwelling values were down 4.8 percent across Australia, ranging from an 8.9 percent fall in Sydney values through to a 9.9 percent rise in values across regional Tasmania. 
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/2/Cl-Jan2full.jpg" alt="">
<div class="page" title="Page 3">
<div class="section">
<div class="layoutArea">
<div class="column">
"The broad-based weakening in housing market conditions over the 2018 calendar year should come as no surprise," CoreLogic head of research Tim Lawless said adding a variety of factors are having a negative impact on the market that could persist into 2019.
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Melbourne’s top quartile housing market led the way with dwelling values down 11.2 percent over the year, while the lower quartile of the market has remained in subtle growth territory over the year (+0.5 percent). 
In Sydney, upper quartile dwelling values are 10 percent lower over the year, compared with a 6.8 percent decline across the lower quartile of the market.
Ryde ranked as Sydney's worst performing area of 2018, with <a href="/expert-insights/buying/ryde-ranks-as-sydneys-weakest-2018-housing-market-corelogic">declines of 13 percent</a>.
Melbourne's inner east was the worst performing area of 2018, seeing <a href="/expert-insights/buying/melbournes-inner-east-the-nations-weakest-house-price-market-in-2018-corelogic">declines of 13.4 percent</a>.
The over-all 7.2 percent Melbourne decline from its peak 13 months ago compares with Sydney's 6.9 percent dip when it was 13 months into its downturn.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Although Sydney and Melbourne recorded the weakest conditions, the peak to current declines are much less severe relative to Perth and Darwin where values have been falling since mid-2014. 
Sydney values are now 11.1% lower relative to the July 2017 peak and Melbourne values are down 7.2 percent since peaking in November 2017. 
"The downturn has been running much longer in Perth and Darwin, resulting in cumulative falls of 15.6 percent and 24.5 percent respectively," Lawless noted.
At the end of 2018, Sydney values were back to where they were in August 2016, while Melbourne values are back to February 2017 levels. 
Perth values are back to levels last seen in March 2009 and Darwin dwelling values are at October 2007 levels.
Sydney prices are still about 60 percent higher than they were in 2012.
This time last year, at the end of 2017 Tim Lawless noted that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.
Amongst the capitals, the weakest end of 2017 year conditions were concentrated in Sydney and Darwin.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/2/CORE2.jpg" alt="">
At December 31, 2017 Sydney dwelling values remained 70.8 percent higher than their cyclical low point in February 2012.
The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).
 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Sydney

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Sydney

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News