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

Joel Robinson

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

Sydney

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Sydney has the highest prices for prime waterfront properties across the world, according to the new Knight Frank Global Waterfront Monitor.
Australia dominates the top five cities, with Sydney well out in front (89.3%), followed by the Gold Coast (64.1%) and Perth (53.2%).
Dubai (50.7%) and Paris (48%) round off the top five.
Michelle Ciesielski, Knight Frank’s director of research, said Sydney topped the charts because it has one of the world's best waterscapes.
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“From its iconic New Year celebrations to the starting point of the Sydney to Hobart yacht race on Boxing Day, residents are treated to expansive views of one of the world’s best waterscapes,” she said.
Prices for prime waterfront properties are on average 40% higher than comparable properties inland, Knight Frank's Global Waterfront Report 2019 suggests. 
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Liam Bailey, Knight Frank's global head of research partner said waterfront addresses are amongst the most desirable in the world, however not all prime waterfront properties are equal and the premiums vary depending on location and amenity.
“Our Global Waterfront Report 2019 found that being located alongside a harbour generates the highest premium of 59.1%," Bailey said.
"This is closely followed by beachfront homes which command an average uplift of 58.5%, with Sydney and the Gold Coast registering some of the highest uplifts for beachfront properties.
"River and lakeside residences are on average 36.8% and 32.7% higher, respectively.”
Bailey said new-build beachfront properties are in high demand in both Perth and Dubai as developments, such as the Palm Jumeriah in Dubai, provide prospective buyers with the opportunity to access the lifestyle and amenities waterfront properties are renowned for.
“In Paris new-build opportunities are scarce so waterfront residences are typically older high-ceilinged Haussman homes along the Seine. This is similar in Berlin where limited space for new-builds is expected to contribute to the increase in the premium waterfront properties generate, which currently sits at 28%.”
Click here <a href="https://www.propertyobserver.com.au/images/2018/12/20/Knight-Waterfront.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/2018/12/20/Knight-Waterfront.jpg" alt=""> Source: Knight Frank
Prime waterfront residences in Sydney experience the largest uplift globally, according to Knight Frank Australia's head of residential partner Sarah Harding.
“Sydney sits in first place with waterfront properties generating an average premium of 89.3% (as at Q3 2018), when compared to similar properties located further inland without access to water. 
"Homeowners vie for the finest views of the Harbour Bridge and Opera House as it offers sprawling vistas of, and access to, one of the world’s best waterscapes.”
Harding said prospective buyers from all over the world search for waterfront properties, although there is particularly strong interest from the UK, US, Canada and Australia.
“Outside of the lifestyle and additional amenities a waterfront home provides, such as private moorings or jetties and easy access to numerous water sports, they are also an attractive opportunity for buyers as they are amongst the most liquid of properties.
“Even during a market downturn we see frontline waterfront properties remain in demand due to their position and scarcity. This sees them retain their value and also provide potential buyers with additional confidence in their future exit strategy should they need to sell.”
Knight Frank’s Erin van Tuil, partner of Crown Residences at One Barangaroo said developments such as the Crown Residences at One Barangaroo are creating a new benchmark for waterfront properties in Sydney and around the world.
"Each of the 82 six-star hotel-branded residences will provide expansive dual or triple aspect views over Sydney Harbour, from its iconic New Year celebrations to the starting point of the Sydney to Hobart yacht race on Boxing Day, making it one of Australia’s most prestigious residential addresses.”
 
 
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jrobinson-rf4aSBido9

Sydney generates the highest premium for waterfront properties globally: Knight Frank

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Sydney has been ranked in top six of ultra-prime cities globally for number of residential sales above US $25 million, according to Knight Frank's assessment of the global ultra-prime residential market.
Hong Kong is the city with the highest number of ultra-prime sales, with New York and London ranked in second and third place.
Sarah Harding, Knight Frank partner for head of residential, said in a global market, Sydney remains the destination of choice for high net worth individuals due to a number of factors including the lifestyle and relative political stability.
“All ultra-prime transactions in Sydney over the past three years occurred in the Eastern Suburbs and all were for houses," Harding said.
"However, this is based on completed properties and we expect that off-plan sales will further increase these numbers when further prestige apartment buildings in Sydney are completed.
“In the 12 months ending August 2018, the total value of ultra-prime properties (over US $25 million) sold in Sydney was US $219 million across five transactions.
“Whilst Sydney is one of the smallest city markets in regard to transaction levels, it has some of the most spacious properties with the typical transaction encompassing plots of land, and an average saleable area of 1,976 square metres.
“Not only do the properties cover large areas, but the majority have waterfront views and a private swimming pool." 
The 12 month period to August 2018 shows a slight decline in Sydney from last year, but well up on the total value of transactions from 2015 and 2016.
The number of transactions in Sydney has been steady since 2015.
Click here to enlarge.
<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/2018/12/11/Knight-Frank.jpg" alt="">
Knight Frank partner, Crown Residences at One Barangaroo, Erin van Tuil, said Sydney is now established as one of the world’s top ultra-prime city markets. 
"We have seen the reality of this in the market response to Crown Residences at One Barangaroo. Crown Residences has now offered UHNWIs a viable alternative to the traditional, free-standing harbour-side home in Sydney. 
“In Crown Residences, Sydney now has apartments that actually respond to the needs of UHNWIs; space, views, location, stunning design and of course the impeccable service of Crown Resorts. 
"I would expect to see transactions over US$25m increase over the coming years in Sydney.” 
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Sydney ranks in top six of ultra-prime cities globally for amount of prestige sales

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EXPERT OBSERVATION
For the first time since 2016 the first and lowest price band of $0-$500,000 has opened to Sydney buyers, at 1.4% of the market, as shown in the latest <a href="https://www.prd.com.au/research-hub/affordable-liveable-property-guide-2nd-half-2018/" target="_blank">2018 Affordability and Livability Report</a> released by PRD nationwide.
Although this is a very marginal part of the market, this marks a more affordable Sydney.
For the first time since 2015 all the affordable and liveable suburbs in Sydney had negative annual median price growth, a sign of market cooling.
Prior to this, affordable and liveable suburbs showcased positive growth, thus, in the Livability and Affordability report it became a task of nominating suburbs with as moderate a softening as possible.
<img src="https://www.urban.com.au/images/2018/12/7/PRD%20Nationwide.JPG" alt="">
In Brisbane, all affordable and liveable suburbs were in the north.
This was different to previous reports, where affordable and liveable house hotspots were found in all pockets of Brisbane (i.e. north, south, east, etc.).
None of the affordable suburbs in Hobart were able to satisfy the liveability criteria.
To ensure liveability aspects were met, the median suburb price had to be raised above that of the Hobart metro median price.
This only occurred in Hobart, which suggests the strong need to develop a strategy that addresses liveability aspects in more affordable areas of Hobart.
<img src="https://www.urban.com.au/images/2018/12/7/PRD%20Nationwide%202.JPG" alt="">
Of all the capital cities, Melbourne has proven to be the most resilient market, both in terms of price growth (in comparison to Sydney) and in ease of satisfying liveability aspects in its more affordable suburbs.
Dr Diaswati (Asti) Mardiasmo National Research Manager | PRDnationwide | Colliers International
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j.ballantyne1990-6AQqhLzZaK

Sydney's sub-$500,000 affordable home market opens up for Sydney buyers: PRD research

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EXPERT OBSERVER
In 2019, there will be several political and economic factors that will continue to impact Sydney’s property market.
1.       Politics to have a major influence in 2019.
 The impending NSW state and federal elections in the first half of the year will heavily impact market conditions. If history teaches us anything, it is that when it comes to elections, people tend to sit on their hands.Uncertainty about changes in policy, such as Labor’s proposal to limit negative gearing tax breaks to new investments and halve the capital gains tax, will cause an extended period of stagnation. The Federal Government also has a difficult challenge in early 2019 to implement the recommendations from the banking royal commission. It is a genuine balancing act, as the Government needs to ensure future prudence, but also ensure that people are able to easily access credit.
2.       The rise and rise of first home buyers. 
It was not that long ago that first home buyers were sidelined in the property market and denounced by some commentators for their spending habits, despite the myriad economic and political forces at play that were locking them out. In 2018 the landscape has changed: financial stimulus was introduced to assist them, and simultaneously, macroprudential measures were introduced to limit investor activity, which has led to less competition and a subsequent correction in prices. First home buyers now account for approximately 25 per cent of all property purchases across our network, and with less investor activity, I fear the State Government may consider this job done. Any removal of concessions, however, would send the market into a spin, as many first home buyers would then not be able to afford to buy, and with less investors and less owner-occupiers, who is left to purchase property? All the pieces of the puzzle are currently in place for first home buyers, and it should stay that way in 2019.
3.       Bank valuations coming in under purchase price.
As property prices continue to fall, banks will become more prudent and low-ball buyers on valuations. We are already seeing many off-the-plan apartments that were bought 12-18 months ago now worth five to 10 per cent less than the original purchase price. Anyone who is struggling to secure lending should contest the valuation. It is possible to request a second opinion, or alternatively, provide extensive comparative evidence for similar properties that have sold in the area.
4.       Rates to stay unchanged in the first half of the year.
 The Reserve Bank of Australia has left interest rates unchanged for more than two years. Stagnant wage growth and a slowing market are keeping rates down, and it is unlikely we will see a change in the first half of 2019, which is good news for property owners. Beyond that, it is very difficult to say, as a few days in politics and economics is a long time, let alone a few months.
5.       People paying down mortgages more aggressively.
 While it may not be in the first half of next year, Australia’s record-low interest rates will change. It is advisable that homeowners pay down as much debt as they can while we have this advantageous environment. Accountants and banks will also be encouraging people to pay down debts before rates rise. Paying an additional $150 a month on a $600,000 loan could save a homeowner more than $10,000<a id="LPlnk175549" name="x__ftnref1" href="https://outlook.office.com/owa/?realm=student.uts.edu.au&amp;exsvurl=1&amp;ll-cc=1033&amp;modurl=0#x__ftn1">[1]</a> – and they will pay their debt down a year faster. I encourage anyone with disposable income to make a dent in their debt while they can.
6.       Fewer auctions with clearance rates of 50%. 
Fewer people will go to auction in 2019, as they fear the embarrassment of their property passing in. Auction clearance rates are likely to hover around 50 per cent next year. However, the instant nature of the reporting of auction clearance rates is not always an accurate market barometer. Sellers need to trust the auction process and know that several properties also sell before and after the actual auction day.
7.       Rental vacancies rates to rise. 
While historically house prices and rental performance have often been diametrically opposed, the current market does not really benefit either. While apartment development has been high over the last three to five years, half of these properties were snapped up by investors. With the market becoming more competitive, renters have more choice, and therefore, landlords need to be ultra-realistic with the prices they set. It may be tempting to try to wait for the right rental price, but investors need to listen to their agent’s advice next year, as holding out when there is no other interest could mean losing a month’s rent. Investors that have entered the market without a buffer may even be forced to sell in 2019 because they may not be able to balance the books.
DOUGLAS DRISCOLL is the Starr Partners CEO
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Landlords will need to be ultra-realistic with the rents they set: Douglas Driscoll's 2019 property forecast

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Sydney house values fell 9.2 percent over the past year, their largest annual fall since May 1983.
Overall Sydney dwelling values fell 8.1 percent over the past year.
Unit values declined by 5.5 percent.
<img src="https://www.urban.com.au/images/2018/12/3/CoreLogic%20Hob%20vs%20Per%201.JPG" alt="">
Headlining the November results, the CoreLogic hedonic home value index recorded its weakest month-on-month change in dwelling values since the Global Financial Crisis.
National dwelling values slipped 0.7 percent lower in November, led by larger falls in Sydney (1.4 percent) and Melbourne (1 percent) where the pace of decline has accelerated over the past month.
Nationally, dwelling values are down 4.2 percent since peaking in October last year, with dwelling values retracing back to levels last seen in December 2016.
<img src="https://www.urban.com.au/images/2018/12/3/CL%20Dec%203.JPG" alt="">
CoreLogic head of research Tim Lawless said the downwards pressure on national dwelling values is largely confined to Sydney and Melbourne which together, comprise approximately 55 percent of the value of Australia's housing asset class.
Since peaking in July last year, Sydney's housing market is down 9.5 percent which is on track to eclipse the previous record peak-to-trough decline set during the last recession when values fell 9.6 percent between 1989 and 1991.
Melbourne dwelling values peaked four months later than Sydney, in November 2017, and have since fallen by 5.8 percent through to the end of November 2018.
"Conditions across the Australian housing market are increasingly diverse," Lawless said.
Dwelling values are trending higher across five of the eight capital cities, albeit at a relatively slow pace compared with the previous surge in Sydney and Melbourne.
"Hobart and regional Tasmania continue to be the standouts for capital gain, with values up 1.7 percent across both regions over the past three months".
Tim Lawless points towards several factors that are influencing the downwards trend in Sydney and Melbourne, while other regions continue to see some level of growth.
"The tightening in finance conditions has been more pronounced across the investor segment of the market, where Sydney and Melbourne have recorded much higher concentrations of investment demand.
"Additionally, housing affordability constraints are more pronounced in these markets and rental yields are substantially lower, indicating an imbalance between rental values and dwelling values.
"The ramp up in housing supply has been more pronounced in these markets against a backdrop of slowing demand, and Sydney and Melbourne have also been more affected by the reduction in foreign buying activity."
"As a consequence of less market activity, advertised listings have surged higher, providing buyers with ample choice which provides for a strong negotiation position on price.
"The rebalancing towards buyers over sellers in Sydney and Melbourne is clear across CoreLogic's vendor metrics, with clearance rates tracking in the low 40 percent range while private treaty sales are showing substantially longer selling times and larger rates of discounting than they have over recent years."
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Sydney house values fell 9.2 percent over the past year, their largest annual fall since May 1983.

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For the first time since GFC, Sydney's auction clearance rate has fallen below 40%, according to Domain.
They found Sydney had a revised clearance rate of just 39.4% on 403 reported auctions of the week ending October 20, 2018.
Only $170 million dollars worth of property sold compared to the same period last year when $484 million worth of property sold.
There is still 9.3% unreported.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/29/Domain%20Auction.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/10/29/Domain%20Auction.JPG" alt="">
The consistent recent deterioration had market watchers anticipate auction clearance rates dipping into the 30s. 
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SQM's Louis Christopher recently noted three previous times when Sydney auction clearance rates sunk into the 30s.
"That was in October/November 2008 during the GFC, May 2004 after the NSW vendor stamp duty was introduced and July 1989 when the cash rate hit 17 percent."
Melbourne's revised clearance rate was also very low last week at 44.4%.
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<img src="https://www.urban.com.au/images/2018/10/29/Darlin.JPG" alt="">
The most expensive sale at auction in Sydney last weekend was <a href="https://www.realestate.com.au/sold/property-house-nsw-darling+point-129472518" target="_blank">13 Etham Avenue, Darling Point</a> (pictured above) which sold after auction for $5 million.
The five bedroom three bathroom home set on a 486 sqm parcel was held by the same family for over 60 years.
“We were quoting $5 million, the reserve was $5 million and it sold for $5 million,” selling agent Ben Collier at The Agency said.
 
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Sydney clearance rates dipped into the 30's for the first time since the GFC

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Sydney house prices will remain close to unchanged in the year to December 2019 after falling by about 8% in 2018, according to the latest Domain forecasts.
Domain predicts house prices will grow modestly in 2020.
They believe that house prices will fall by about 12% from their peak of almost $1.2 million in June 2017 to a low point of just above $1 million in mid-2019.
<img src="https://www.urban.com.au/images/2018/11/29/Sydney%20Domain%201.JPG" alt="">
Source: Domain
Sydney unit prices are expected to be more resilient than house prices.
Domain Economist Trent Wiltshire said: "Unit prices are expected to fall by about 3% over the year to December 2018, but then prices are expected to grow modestly over the next two years at about 3-5%.
"Sydney unit prices are predicted to fall by 6% from their peak of $769,000 in June 2017 to their lowest point of about $720,000.
"At this low point, Sydney unit prices will be back at their late-2016 level.
"The NSW government’s stamp duty concessions are also likely to support unit price growth."
<img src="https://www.urban.com.au/images/2018/11/29/Sydney%20Domain%202.JPG" alt="">
Source: Domain 
However, one risk to Sydney unit prices is whether the large pipeline of new unit construction is absorbed.
Given projected strong population growth, Domain is of the opinion that this will not result in city-wide price falls, although some areas with a particularly large amount of new construction may see prices remain weak.
"Tighter lending conditions have weighed heavily on Sydney property prices, particularly for more expensive properties, but we think this is likely to have played out by mid-2019," Wiltshire said. 
Click <a href="https://www.propertyobserver.com.au/images/2018/11/30/Domain%20forecasts%201.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2018/11/30/Domain%20forecasts%201.JPG" alt="">
Click <a href="https://www.propertyobserver.com.au/images/2018/11/30/Domain%20forecasts%202.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2018/11/30/Domain%20forecasts%202.JPG" alt="">
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Sydney house prices will drop 12% from peak: Domain

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Earlier this week The Lord Mayor of Sydney, Clover Moore, joined Greenland Australia’s Managing Director, Sherwood Luo, in officially opening the striking Omnia building in Pott's Point.  Those in attendance at the ribbon-cutting ceremony included construction partners Probuild, architects Durbach Block Jaggers, SJB and Studioaria, in addition to other project consultants. 

The $320 million, 20-storey Omnia apartment building features 132 residences, and is uniquely located between Victoria Street and Darlinghurst Road, with the development already gaining widespread attention for its dramatic curved form sitting atop a uniquely sculptural retail podium, which houses a <a href="/news/greenland-australias-omnia-welcomes-wooloworths-metro-as-first-tenant-in-retail-podium">Woolworths Metro</a>.

Omnia marks Greenland Australia’s fourth completed project since commencing in Australia in 2013. Two of Omnia’s three luxury dual-level penthouses, remain for sale and are priced between $12 million and $15 million.

<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/_dsc6674_edited_horozontal.jpg" rel="gallery-all" title="The strikingly curvaceous form of Omnia draws on New York's Flatiron. Image: Supplied "><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/_dsc6674_edited_horozontal.jpg?itok=hGQ4ZR8w" title="The strikingly curvaceous form of Omnia draws on New York's Flatiron. Image: Supplied " width="580"></a>

<figcaption>The strikingly curvaceous form of Omnia draws on New York's Flatiron. Image: Supplied</figcaption></figure><h2>What they say...</h2>

<blockquote>
Probuild have been responsible for Omnia’s high-quality construction, Durbach Block Jaggers for its distinctive design, and SJB and Studioaria for its premium interiors. This exceptional build quality is important given Omnia’s high-profile location, which effectively redefines the gateway to Potts Point and Kings Cross, one of Sydney’s most iconic food and beverage and entertainment precincts.

As such, we felt the site warranted a world-class building with significant architectural merit, and thanks to our amazing project partners, I think we’ve more than delivered. The building’s distinctive hourglass shape wasn’t simple to execute, but I think you’d all agree it was well worth the challenge.  It’s truly unique.

Omnia is a premium offering in every respect – its luxurious interior design concepts, superior construction and finishes, and its setting in one of Sydney’s best-selling locations and one of the world’s best.

- Sherwood Luo, Greenland Australia’s Managing Director
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<blockquote>
Omnia has been a fantastic project to be involved with. As an adaptive re-use project, we completed partial demolition of the previous building while designing and constructed around the existing structure that remained.

The unique design introduces a dramatic architectural feature whereby each slab decreases by 180mm in length per floor over 10 levels and then increases again, resulting in the tower’s distinctive hour-glass shape.

We have a very close relationship with Greenland Australia and we look forward to continuing it as we complete our next iconic Sydney address together at the <a href="/buildings/the-greenland-centre-115-119-bathurst-street-sydney">Greenland Centre Sydney</a>, which will be Sydney’s tallest residential tower when built.

- NSW Managing Director of Probuild
</blockquote>

 
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Laurence Dragomir

Lord Mayor officially opens Greenland Australia's Omnia in Potts Point

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This week's episode of the Apartments.com.au podcast comes to you from the Harbour City, where I sat down with Atelier Ten Director Paul Stoller in the company's Sydney office on Pitt Street.

Paul tells me about the genesis of Atelier Ten and its history in Australia as well as Paul's own history working on Federation Square some 20 years ago. We also discuss a few of the projects Atelier Ten are currently involved with and the office's involvement in the winning design for the Southbank by Beulah competition. 

 

<iframe allow="autoplay" frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/540346626&amp;color=%23ff5500&amp;auto_play=true&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true" width="100%"></iframe>
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Weekly Podcast - Episode 42: Atelier Ten’s Paul Stoller

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EXPERT OBSERVATION
For years Melbourne has been renowned for its trend-setting restaurant and fashion scene, often teaching big sister Sydney a thing or two.
More recently, Melbourne’s property market has caught our eye with its striking and daring architectural designs and robust opportunities for investors.
It’s almost impossible to escape headlines declaring prices falling in housing markets in major Australian capital cities, spreading widespread concern and creating an irrational fear of residential property investment.
But all indicators point to Melbourne as a prime investment location supported by strong population growth, stable political leadership and a high level of government investment in infrastructure.
Despite on-going media reports on negative housing trends, Melbourne continues to show solid economic growth and is likely to come out of this ‘softening period’ relatively unscathed.
Melbourne has managed to counteract the alleged housing market slowdown as the city’s median house price is up 5% in the past 12 months.
According to the Real Estate Institute of Victoria (REIV), there was a 13.6% increase in the value of homes sold on the private market and an 0.6% increase in the value of those sold at auction over the past 12 months.
The good news for investors transcends stabilising house prices as 2018 has also seen a boom in population growth which has allowed Victoria to take out the number one spot this year in CommSec's "State of the States" economic rankings, outranking New South Wales for the very first time.
In fact, Victoria experienced Australia’s largest population growth between 2016 and 2017 with Melbourne experiencing the largest and fastest growth of all capital cities.
According to the Australian Bureau of Statistics, Melbourne grew by approximately 144,400 people at a growth rate of 2.7%.
This record population growth continues to fuel demand for housing maintaining an overall undersupply in the market.
It is predicted that Melbourne could become Australia’s largest city as early as 2030 with its population expecting to reach 6.1 million.
Melbourne is on the verge of overtaking Sydney as the nation’s largest city and remains a ‘safe bet’ for investors in terms of securing tenants and both rental and capital growth.
The city also has no shortage of infrastructure projects making the city desirable for new residential dwellings.
Melbourne has a larger land radius in the city centre than Sydney allowing for more development and will soon have Australia's tallest skyline, with more than 140 skyscrapers higher than 100 metres completed, planned or under construction.
The Victorian economy has arguably been the best managed State across both sides of government for decades providing a resilience unseen in other states.
The Victorian Government is committed to ongoing investment in world-class transport infrastructure including the $11 billion Metro Tunnel Metro Tunnel and the $1.75 billion Regional Rail Revival program.
The future outlook remains positive with forecast budget surpluses for the next four years provide a stable economic environment in Victoria, allowing the government to expand its ongoing investment in infrastructure.
The housing market slowdown will likely dominate the headlines for the foreseeable future, but the reality is the property market is dynamic and there are always opportunities if you know where to look.
Investors need to do their homework and seek professional advice and ensure the fundamentals are strong before leaping into an investment opportunity.
JAMES NIHILL is the Managing Director of Patrick Leo
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