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

Joel Robinson

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

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

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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

Sydney

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SQM Research has revised down its forecasts for 2018.
It follows recent market evidence that dwelling prices have been falling in Sydney and to a lesser extent in, Melbourne this year.
Indicators such as auction clearance rates, total aggregated property listings and asking prices suggest further deterioration in market conditions in recent weeks, the property research company advised.  
As a result, SQM Research has had to revise down its initial forecasts in five of the capital cities compared to its forecast back in October 2017 via its annual Housing Boom and Bust report.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/7/sqm2.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/2018/5/7/sqm2.jpg" alt="">
The revisions came with the follow assumptions/Notes
<ul>
<li>No further APRA action taken in 2018.</li>
<li>Cash rate remains on hold at 1.5%.</li>
<li>The recent APRA announcement of lifting the 10% investment credit growth limit (26 April 2018) is likely to have an initial muted impact upon the market.</li>
<li>June quarter – seasonally the strongest quarter in the year, is likely to record a fall in dwelling prices.</li>
</ul>
Sydney
SQM Research believes the Sydney housing market may now record price declines for the year or at best, very small price gains, assuming property investor do come back to the market at a slow rate following the recent APRA announcement. The base case forecast has been downgraded to -4% to 0% dwelling price changes for 2018. 
Recent auction results suggest that market activity has further deteriorated during April. 
Actual auction clearance rates have ranged in the low to mid 50% range with the last weekend of April suggesting that the clearance rate may have dropped further to below 50%. These are levels which, historical, have translated into price falls.
Sydney’s Inner West, Lower North Shore and Eastern suburbs are recording higher clearance rates (average between 60-64%) suggesting the top end of Sydney’s residential housing market ($2.5m+) is holding.
Total Sydney listings year on year have now risen by over 34% and are now at similar levels recorded in 2011 - a point in time when Sydney dwelling prices fell 3% for the year. SQM Research expects listings to rise further in the current month of May.
Days on market for existing listings has increased to 118 days in April 2018 from 107 days recorded in April 2017. This data is backed by agents on the ground whom are reporting in unison that many properties are not moving. 
Asking prices for April fell 1.1% for houses and 0.6% for units – this suggests a degree of capitulation by property sellers which will likely mean a negative pricing result for the June Quarter.
Given the loosening of investment property credit growth restriction, there may be a response from Sydney investors. However, given other housing credit restrictions it is unlikely that the response will be significant. 
SQM noted that on a nominal aggregate incomes to dwelling prices measure, "the Sydney market is approximately 45% overvalued."
SQM Research expects this overvaluation to wind down somewhat over an extended period of time. 
SQM expects Melbourne to record a flat market, with risks on the downside that prices could fall for the year.
Click to <a href="https://www.propertyobserver.com.au/images/2017/10/18/Crash1.jpg" target="_blank">enlarge the previous forecast.</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/2017/10/18/Crash1.jpg" alt="">
SQM's Louis Christoper tweeted this morning that the "main reason for the forecast range is a degree of uncertainty at our end about the impact of the recent lifting of investment property credit growth limits by APRA."
"Our expecation is a muted response from property investors," he advised.
 
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jrobinson-rf4aSBido9

Sydney prices to likely fall: SQM's revised 2018 forecast

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The price gap between houses in Melbourne and Sydney is at its narrowest in four years, according to the Domain March Quarter 2018 House Price Report.
Sydney house prices have reported the largest quarterly decline since December 2015. 
In the March 2018 quarter, Sydney houses fell 2.6 percent, with the median price now just over $1.15 million.
House prices in Sydney fell 1.4 percent annually, marking the city's first annual decrease since mid-2012.
House prices in Melbourne increased again, reaching $914,518 in March, a 0.1 percent quarterly increase.
It marked 22 consecutive quarters of growth for the Victorian capital. 
Following a 15-month stretch of double-digit annual growth, however Melbourne house prices growth slowed to a three-year low of 8.8 percent year on year.
The $ price difference for houses is now $200,000.
Back in 2015 when Sydney went through the $900,000 barrier, the price gap was $260,000, with Melbourne house's sitting at $638,000.
At Sydney's peak in the June quarter 2017, the median house price stood at $1,178,417, a price difference of $312,705 to Melbourne's $865,712 median.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/26/houser%20prices.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/2018/4/26/houser%20prices.jpg" alt="">
Sydney units also slipped back closer to Melbourne.
They fell 0.5 percent in the March quarter and 0.6 percent annually.
The move marks almost a decade since both house and unit prices in Sydney decreased over the quarter and year.
Domain's Dr Nicola Powell said the trend was identified late last year.
“Following marginal quarterly growth in December, house and unit prices in Sydney continued to soften over the March quarter, a trend first identified in September 2017. 
"Although both house and unit values declined, units softened moderately compared to house prices in March, demonstrating the impact of the affordability hurdles of purchasing a home in the Harbour City. “New South Wales is experiencing an increase in first home buyer activity, which is being driven by government incentives. 
"The increased demand at the entry-level price point may support price increases at the lower end of the market. 
"However, it remains to be seen whether the Banking Royal Commission will prompt stricter mortgage lending standards, making credit harder to attain."
Melbourne unit prices delivered another quarter of improvement, rising 0.7 percent to reach a median value of $505,861.
Melbourne was the only capital city with unit growth over the March quarter.
Annually, units in Melbourne rose 7.9 per cent.
"While Sydney is currently dealing with the impacts of decreased investor activity, Melbourne has always been an owner-occupier led market, and is somewhat less exposed to investor movements relative to Sydney," Powell said. “Ongoing price growth in the Victorian capital is being supported by the city’s rising population, strong employment growth and lower affordability hurdles. 
"Although there are certain pockets of Melbourne impacted by heightened unit supply, overall the city delivered the strongest annual growth in eight years." 
 
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Melbourne houses and units narrow price gap on declining Sydney

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Already no stranger to major suburban skyscrapers, Sydney may well host a duo of hulking towers in Crown Nest.

The push is on to capitalise upon the NSW Department of Planning and Environment's strategic review of the St Leonards and Crows Nest Station Precinct, with the new Crows Nest Metro Station at the heart of the renewal area. Entity Eastern Property Alliance Pty Ltd is behind the bid to realise two skyline changing towers of 193 and 162 metres within the precinct which is earmarked for greater densification.

Both towers are slated for a triangular site bound by Falcon Street, Alexander Street and Pacific Highway. Known as the five ways intersection site, the 3,010 square metre plot acts as a southern gateway site for both Crown Nest and adjoining St Leonards.

North Sydney Council fielded the application earlier this month, and is officially addressed 395-419 Pacific Highway.

<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/image53_6.jpg" rel="gallery-all" title="Hero perspective. Planning image: Sydney Design Studio"><img alt="" class="image-article-full-width-580px" height="1145" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image53_6.jpg?itok=PnYTMw-f" title="Hero perspective. Planning image: Sydney Design Studio" width="580"></a>

<figcaption>Hero perspective. Planning image: Sydney Design Studio</figcaption></figure>Darlinghurst-based Sydney Architecture Studio have conceived the dual tower design, describing the project within their concept design report in the following manner:

<blockquote>
The proposal addresses the aspirations outlined in the Preliminary Urban Analysis by creating a ‘gateway’ site. Furthermore, it is appreciated that the project needs to deliver a work of international significance in order to establish the southern ‘gateway’ to the new Crows Nest and St Leonards CBD.

Balancing the needs and interests of the local community while addressing the bigger picture changes as a new CBD is part of our work.

The proposal seeks to present an architectural expression that reflects the mixed-uses &amp; diversity within. Rather than a singular repetitive tower facade, we will be exploring architectural devises that are in direct response to orientation, height above ground, and drone by user needs within.

In order for Crows Nest to continue to play an important role as a vibrant activity centre, it is critical there are opportunities to accommodate a mix of economic activity.
</blockquote>

<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/image55_8.jpg" rel="gallery-all" title="Podium and hotel articulation. Planning image: Sydney Design Studio"><img alt="" class="image-article-full-width-580px" height="431" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image55_8.jpg?itok=XZF0S9Zk" title="Podium and hotel articulation. Planning image: Sydney Design Studio" width="580"></a>

<figcaption>Podium and hotel articulation. Planning image: Sydney Design Studio</figcaption></figure>The development team's intent in delivering a mixed-use project sees in inclusion of all uses aside from the typical residential outcome. More specifically 10-15% of the 60 and 50-storey towers uses will be dedicated to non residential (retail/ office/ hotel).

7 basement levels are envisaged, with the common podium structure above incorporating multiple levels of retail and commercial space, childcare facilities and recreational areas.

Hotel areas are envisaged within the lower portion of the towers proper, with dedicated residential apartments above.

395-419 Pacific Highway is not the only site in Crows Nest expecting a tower of considerable size. Consultancy firm Property Development Systems is showcasing <a href="https://www.propertydevelopmentsystems.com/the-wentworth/">The Wentworth at 286 Pacific Highway</a> which is directly opposite 395-419 Pacific Highway.

Imagery suggests it will span approximately to levels although no development application relative to this development has been lodged to date.

<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/image56_7.jpg" rel="gallery-all" title="The Wentworth. Image: Property Development Systems"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image56_7.jpg?itok=uE0VDn0_" title="The Wentworth. Image: Property Development Systems" width="580"></a>

<figcaption>The Wentworth. Image: Property Development Systems</figcaption></figure>
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silvermb

Crows Nest earmarked for Sydney's next major skyscrapers

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Six postcodes had zero mortgage delinquencies in November 2017, making them the best performing in the country.
Ten of the 20 best-performing postcodes in Australia were in Sydney, while six were in Melbourne.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/12/BEST%20POSTCODE.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/2018/4/12/BEST%20POSTCODE.jpg" alt="">
Most best-performing postcodes were located in capital city regions where employment is concentrated in professional services.
The weighted average current loan to value ratios for the best performing regions were typically lower than the national average of 63.2%.
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j.ballantyne1990-6AQqhLzZaK

Crows Nest, Mosman and Carlingford the best postcodes for mortgage payments: Moody's

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EXPERT OBSERVATION
Housing market conditions continue to soften with most capital city housing markets seeing price falls or slower growth, and transaction numbers remain lower than year ago levels. Auction clearance rates, while they have picked up from their late 2017 levels, remain below where they were a year ago. 
Melbourne house prices are also now also weakening and there are early signs of this occurring in Adelaide as well. Brisbane dwelling prices have been broadly flat in recent months while Perth, after a long period of falling prices, appears to have stabilised.
NAB recently suggested housing sentiment rose in Q1, however its WA and QLD that are dragging the softening Victoria and NSW.
 <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/2018/4/11/approvals.jpg" alt="">
The Melbourne and Sydney housing markets have been affected by falling overseas demand. The NAB Residential Property Survey indicates that the foreign share of new property purchases reached a six year low at the end of 2017, although there was a small increase in foreign interest in the March 2018 quarter. 
In addition to lower foreign demand, policy changes have affected the investor market. This can be seen in housing finance approvals data; the value of investor finance approvals in January was down 12% on the same time last year. The weakening in investor finance was offset for a while by rising approvals for owner-occupiers, but even this has turned negative recently. 
As a result, in January 2018 the number of housing finance approvals (owner-occupier, ex refinancing) was almost the same as a year ago, after showing double digit growth in mid- 2017.
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We have slightly lowered our house price forecasts for 2018 and now expect a small fall in house prices (now - 0.8% was +0.7%), largely due to continuing weakness in the Sydney market and a softer Melbourne market. 
For 2019, the house price forecasts remain broadly unchanged at +0.8% with only Sydney expected to fall (albeit modestly). 
Apartment forecasts are broadly unchanged (-0.8% in 2018 &amp; -1.8% in 2019) reflecting large stock additions and a soft outlook for foreign demand. More details are available in the NAB Residential Property Survey.
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Dwelling investment has been trending down since Q3 2016. This can be seen in building approvals data, particularly for ‘other dwellings’ (principally apartments but also semi-detached dwellings). However, while building approvals remain off their peaks, there is little sign at this stage of further downwards momentum, and they remain relatively high by historical standards. Still strong population growth means that even as a large stock of apartments come onto the market over the next few years, we are unlikely to see a major correction. 
Nevertheless, we still see further small declines in dwelling investment in 2018 and 2019 before stabilising in 2020.
Alan Oster is group chief economist, National Australia Bank, and can be contacted <a href="https://business.nab.com.au/author/alan-oster/">here</a>. 
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Only Sydney house prices to fall in 2018 and 2019: NAB

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Supply lines for Parramatta and North Sydney are set to increase in size over the next few years, according to the Colliers International Q1 Metro Office Research and Forecast Report for 2018. 
The light rail is continuing to transform the dynamics of Parramatta, who has seen grade B vacancy slash more than half.
From the six months to January 2018, it dropped from 6.3% to 2.7%. 
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Kristina Mastrullo, associate director of research at Colliers International said the upward rents are expected to continue.
“B grade rents are expecting to continue their upward trajectory, with the ability to further increase A grade rents," she noted.
"Sizeable B grade space becoming available is when Property NSW vacates 5,700sqm in 93 George Street, moving to Parramatta Square."
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Mastrullo suggested Parramatta will continue with historically low vacancy rates.
“The next two years will see Parramatta continue with historically low vacancy rates, increased rents and decreasing incentives as Lessors look to capitalise.
"2021 will deliver new developments and much-needed opportunities not only for large occupiers but medium sized businesses.”
“Adding to demand is interest from co-working / serviced office groups who are seeking A grade quality as either majority or whole-building occupiers i.e. over 3,000sqm, delivering scale.”
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“Demand is particularly strong at the top end of the market, leading to off market transactions occurring on a more frequent basis.”
Mastrullo also cited North Sydney as somewhere businesses are targeting.
“With the Sydney Metro, the Victoria Cross Integrated Station Development and increasing investment in retail and public amenity, requirements for North Sydney office space is likely to strengthen moving forward, encouraging organisations to consider North Sydney as a first option for accommodation.”
“Its an exciting time for North Sydney; the market is going through a transformation and we are seeing high profile corporates choosing North Sydney as a location,” said Louise Rowe, National Director of Office Leasing at Colliers International. 
“The quality of amenity, the affordability of workspaces and the accessibility to the CBD and outer suburbs is giving tenants what they want in a location for their business.” 
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Parramatta and North Sydney office market primed for increase: Colliers

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Sydney Olympic Park Authority has opened a tender for the leasing of The Lodge at Sydney Olympic Park.
Located within the heritage-listed Newington Armory, The Lodge features:
<ul>
<li>Four separate accommodation buildings equipped to accommodate 160 beds – each with its own meeting room, kitchen and amenities</li>
<li>A large dining hall and recreation area</li>
<li>An administration building with main accommodation amenities and staff sleeping areas</li>
</ul>
The open tender seeks a tenant to occupy the premises for a maximum of five years.
The Lodge has primarily provided low-cost, accommodation services; particularly well used by school groups, sporting teams, music and creative arts groups as well as other visitors.
Although its current permitted use is for short-term accommodation, Sydney Olympic Park Authority is now open to considering other permissible uses for The Lodge.
Charles Moore, CEO of Sydney Olympic Park Authority, said the Lodge is the sole accommodation offering at the 52-hectare Newington Armory.
“We would like to see Newington Armory become a thriving cultural and recreational hub for greater Sydney.” 
Newington Armory is a riverside landscape of rolling hills, woodlands and 100 heritage buildings which date back to the 1800s.
The area provides a cultural, recreational and arts program featuring a variety of leisure tours and activities such as dis golf, bicycle and Segway hire, Heritage Train Discovery Tour, temporary public art, visual arts exhibitions, digital filmmaking and creative writing for all ages, as well as home to the Judo NSW Training Facility.
The open tender closes on 1 May 2018.
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The Lodge at Sydney Olympic Park opened for tender

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Telopea's tilt at urban renewal received a boost late last week as the New South Wales Minister for Social Housing initiated an Expression of Interest (EOI) campaign that will ultimately lead to a mass-scale redevelopment within the suburb.

The EOI process will target the private development sector and/or not-for-profit organisations in the expectation of leading a development team that will remodel the 64-hectare Government-owned land parcel. Telopea's master plan is likely to deliver an estimated $2.5 billion of new social, private and affordable housing, along with associated infrastructure over a 10-15 year timeframe.

The land in line for renewal includes 600 existing social housing dwellings and falls under the New South Wales Government's Future Directions in NSW Social Housing blueprint that aims to introduce 30 per cent / 70 per cent split between social and private housing on redeveloped Government land.

<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/image119_1.jpg" rel="gallery-all" title="Telopea and surrounds. Image: TfNSW"><img alt="" class="image-article-full-width-580px" height="646" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image119_1.jpg?itok=Imc_RExY" title="Telopea and surrounds. Image: TfNSW" width="580"></a>

<figcaption>Telopea is in close proximity to Parramatta. Image: TfNSW</figcaption></figure>PBD Architects conceived Telopea's concept master plan, and have outlined the area's importance within the wider Sydney context:

<blockquote>
This area is currently, and will continue to, undergo significant change and renewal as industries move out of this area of Sydney providing the opportunity for new homes, jobs and community facilities between Sydney and Parramatta CBDs.

The Telopea master plan area is based on an 800m radius east of the existing heavy rail station. With a total of 1400 existing dwellings that are a mix of medium rise apartments, dwellings houses, high rise apartments and townhouses, it is estimated that Telopea could deliver between 3500-4500 new dwellings by 2036.

With a focus on improving permeability, new connections across the rail corridor has been introduced. The tallest building will be focused opposite the light rail stop and transitioned appropriately within the core to facilitate the renewal of the denser and aged social housing stock.

The transitioning of building heights, together with the topography, will provide a clear urban structure focused on the station and core, and facilitate good solar access and views.
</blockquote>

It's envisaged that existing housing stock will be replaced with multiple towers reaching 70 metres.

<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/image118_0.jpg" rel="gallery-all" title="Light rail is optioned as part of the Telopea renewal. Image: PBD Architects"><img alt="" class="image-article-full-width-580px" height="344" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image118_0.jpg?itok=7Lp5IT15" title="Light rail is optioned as part of the Telopea renewal. Image: PBD Architects" width="580"></a>

<figcaption>Light rail is optioned as part of the Telopea renewal. Image: PBD Architects</figcaption></figure>Progression to the EOI stage has prompted Urban Taskforce Australia to call for further urban renewal and cooperation between the New South Wales Government and the private development sector.

<blockquote>
The Telopea project follows on from the successful outcome for the Ivanhoe precinct where social and affordable dwellings are provided to Government by allowing significant numbers of market apartments to be built. The outstanding design of a mixed use precinct at Ivanhoe can now occur at the Telopea site.

Telopea has a light rail station and the potential to develop a new town centre with a public plaza. The private sector development industry will be very interested in the Telopea revitalisation project.

The scale of the Telopea project where 600 old social housing dwellings will be replaced by 1,000 social and affordable dwellings as well as 2,500 market apartments demonstrates the value of developing a more urban character with greater densities than Sydney’s typical suburban form of housing.

By generating greater density and height around metro rail and light rail stations the Government is reinforcing the shift to public transport while housing Sydney’s growing population.
</blockquote>

The EOI campaign will close in May, with the process of relocating residents in motion. Current residents will be provided the opportunity to return to Telopea as future stages of the project are completed.
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Telopea's transformation moves to the EOI stage

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Sydney is set to welcome its first Hotel Indigo in its CBD.
The hotel, signed by IHG and Watson Elite, is set to open in 2021.
The press release noted that 'no two Hotel Indigo properties are the same' and it will draw on the rich heritage of Sydney's Central precinct.
Hotel Indigo Sydney Central’s design will draw its unique identity from the neighbourhood’s rich heritage and the nuances of the site.
The cantilevered northern wing will provide a backdrop to its neighbour, the heritage-listed Corporation Building, while a grand artwork will become a distinctive external feature, celebrating the hotel’s location within the Haymarket entertainment precinct.
Inside, the design will ensure the hotel fits naturally into the neighbourhood, telling stories of the local culture by weaving together rich materials, colour palette and custom pieces from local artists, photographers and furniture makers. 
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The 168-room hotel will include a restaurant, café and bar which will echo the produce markets were located in Haymarket from the early 20th century through to the 1980s. 
It will also include five suites, rooftop terraces for meetings and events with views over the city and a gym.
IHG's Abhijay Sandilya said he expects the hotel to become one of Sydney's leading boutique hotels.
“Hotel Indigo Sydney Central will be IHG’s first lifestyle-branded boutique hotel in Sydney, providing its signature ‘effortless authenticity’ to guests visiting Australia’s largest business and tourist hub," he said.
"It’s also the third Hotel Indigo signing for Australia, demonstrating the appetite for a hotel that offers a local and unique experience as well as the reassurance of a global hotel chain.” 
“We expect Hotel Indigo Sydney Central to become one of the city’s leading boutique hotels, making its mark thanks to its unique, eclectic style.
"It will perfectly complement our existing midscale to luxury IHG assets across this landmark city, building IHG’s scale in Australia’s largest city.”
Launched in 2004, Hotel Indigo is the world’s first globally branded boutique hotel brand.
It launched in Asia Pacific in January 2015 with the opening of Hotel Indigo Bangkok Wireless Road, Thailand, followed by the opening of Hotel Indigo Singapore Katong, Singapore in July 2016 and then Hotel Indigo Bali Seminyak Beach in late 2017.
There are currently 82 Hotel Indigo properties (10,645 rooms) in the global pipeline. 
 
 
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Sydney next to welcome Hotel Indigo

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Defence Housing Australia (DHA) has announced approval for the first stage land release which will see the former Schofields Aerodrome site transformed into a residential community.
The master plan for Akuna Vista includes proposals for a new retail precinct, alongside a new school and sporting and recreational facilities.
Located in the high growth north west Sydney area, Akuna Vista development will be a 55 minute train commute to the Sydney CBD, as well as bus services heading to nearby Norwest Business Park and Parramatta.
The housing development takes its name from a colloquial Australian Aboriginal word Akuna, which means ‘the way forward’ or ‘flowing water’. 
This is a direct reference to the adjoining Eastern Creek riverside amenity. 
DHA Managing Director, Jan Mason, said the planned Akuna Vista development would deliver attractive lifestyle and investment opportunities for prospective buyers in the area.   "We are very proud to develop this vibrant Akuna Vista community in such a premium location and with such amazing connectivity for future residents," Mason said.   "The former Schofields Aerodrome site has been mostly dormant for almost two decades, so we are looking forward to bringing it back to life and creating a new residential hub that will benefit from direct access to new infrastructure and strong local economic growth.   "DHA has a proven track record of building award-winning communities that offer high-quality housing for families to call home. Akuna Vista is set to become a sustainable community where residents can grow and prosper for many years to come."   The project will include 1,100 residential lots with 220 reserved for Defence members and their families. This continues a long defence tradition in the area, with the former RAAF Base Schofields known as HMAS Nirimba, operating as a Royal Australian Navy Training Facility until it was eventually decommissioned in 1994.   As well as looking after the housing needs of Defence members and their families, DHA is a leading Australian residential property developer, with almost 50 projects underway across the country and a development pipeline of approximately $2.5 billion. The Akuna Vista community will be developed using a phased construction process that will stretch through to 2026, designed to minimise the intensity of construction in the area.
 
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