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]

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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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A newly complete house built over two levels in southwest Sydney is to be sold through mortgagee auction.
The <a href="https://www.realestate.com.au/property-house-nsw-moorebank-126482502" target="_blank">121 Maddecks Avenue Moorebank</a> property has five bedrooms  and features modern design.
The listing agent is Joe Bousimon of Belle Property, who conduct the auction on October 14 for the mortgagee.
The site was bought in 2013 for $430,000, according to CoreLogic data.
The floor plan includes multi-zoned living and entertaining spaces.
<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/2017/09/28/Moorebank2.jpg" alt="">
Part of the Georges Fair community, the house is close to lush parklands, schools and Moorebank shopping village, with quick access to the CBD made easy via the nearby M5 and transport connections.
It has a dual-level layout, ideal for large or extended families
There is also a home office. Other features include a media room and formal lounge.
The land area is nearly 523 sqm.
The <a href="https://www.propertyobserver.com.au/finding/location/suburb-data?utm_source=Property+Observer+List&amp;utm_campaign=3fcbe356d1-EMAIL_CAMPAIGN_2017_09_28&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-3fcbe356d1-" target="_blank">median price of houses</a> in Moorebank is $883,000, as per CoreLogic RP Data.
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jonathanchancellor-7SQnKwU6yx

New house in Sydney's Moorebank listed under mortgagee sale

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A 3.1 hectare site with potential for development in Sydney’s Campsie has been listed for sale.
The site at <a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/11-harp-street-campsie-nsw-2194/1708305" target="_blank">11 Harp Street</a> is opposite Canterbury Hospital and offers the potential to rezone for residential uses subject to council approval.
It is also close to Frasers’ “Clemton Park” residential redevelopment of the former Sunbeam factory.
The listing agents are Edward Washer and Sam Brewer of JLL, along with Michael Crombie and Trent Gallagher of Colliers.
JLL’s Washer said they expected interest from developers as it was a large infill site, which was rare in Sydney’s industrial markets.
“This is a rare opportunity to purchase a fully-leased industrial investment in Campsie, with future rezoning potential. Indicative medium and high density residential schemes have already been prepared for the property, along with multiple industrial schemes, all providing further upside potential,” said Washer. 
The site is tenanted, with leading auction and valuation specialist Pickles Auctions on a long term lease. 
The sale is via an expressions of interest campaign closing November 1. 
 
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Infill site with prospects for apartments in Sydney's Campsie listed 

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A shop in Sydney’s inner suburb of Paddington is up for lease.
The ground floor space at <a href="https://www.realcommercial.com.au/property-retail-nsw-paddington-502468286" target="_blank">416 Oxford Street</a> resides in Paddington’s café and shopping precinct.
It has an area of 55 sqm and the lease is expected to be around $60,000 pa.
The building has been fully refurbished.  
The leasing agents were John Skufris of Ray White Commercial and Dean Applegate of Laing &amp; Simmons.
“The property is located on the northern, high side of the street about 150 metres from Queen Street and has been renovated to a high standard,” Skufris said.
Applegate said the retail space had received enquiries for pop-ups but lessor will also seek a longer term tenant. 
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Retail space in Sydney's Oxford Street up for lease

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House prices in Sydney and Melbourne are overvalued by up to 30 per cent, and could experience a 10 per cent correction in prices once the RBA raises interest rates, according to a leading economist.
Economist Paul Dales of Capital Economics has done the numbers using a measure called the HPE ratio, or a "normal" house price to earnings ratio.
The other capital cities of Hobart, Brisbane, Adelaide and Canberra were also overvalued - by as much as 10 per cent.
The forecaster said prices were in line with fair value in Perth while Darwin could be undervalued.
Capital Economics noted that the current average house price to earnings ratio for the eight capital cities of 5.8 was still much higher than the historical average of 3.6 for the 36 year period from 1980 to 2016.
The consultancy said that most analysts look at house price to income ratios to determine whether real estate is overvalued. Instead, Capital Economics used the HPE measure to arrive at its conclusions.
The analysis said that in spite of the higher HPE ratio, house prices in Sydney and Melbourne wouldn’t go into a free fall because a "structurally lower" level of interest rates at present compared with that of the 36-year period meant buyers were now willing to accept a lower annual return from housing and were also willing to pay more for housing relative to their incomes than in the past.
The structural decline in interest rates has raised the “fair-value” or “sustainable HPE ratio”, noted Dales.
"Our view is that prices in Sydney and Melbourne will broadly stagnate or fall modestly over the next two years and that prices won't fall significantly until the RBA starts to raise interest rates, which might not happen until late in 2019. Thereafter, prices in both capital cities may fall by around 10 per cent."
Other capital cities, where the values are not so inflated, might not suffer price falls at all, Dales added.
"As long as disposable incomes continued to grow in each of those cities, then prices may not need to fall much, or at all, for their HPE ratios to move back to sustainable levels.” 
The analysis follows statements by veteran real estate agent, John McGrath, who recently said that the Sydney market was overvalued but ruled out a sharp correction.
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Sydney, Melbourne house prices could fall 10 percent: Capital Economics

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Investor demand in south Sydney has dropped, according to Herron Todd White’s latest September report.
The property data firm says that however home owners remain active in the market.
Like other parts of Sydney, investor demand has declined in recent months while home owners are generally remaining active in the market.
First home buyers generally budget up to $1,000,000, which in this part of Sydney generally restricts property options to units, villas and townhouses.
The report said there are a number of new unit developments in the Sutherland Shire which are attractive for first home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee.
For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000.
Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs.
Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land.
A sale at <a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-nsw-caringbah-125922062" target="_blank">32B Carabella Road</a>, Caringbah, (above) which sold for $1.562 million in August 2017, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot.
Empty nesters and downsizers are increasingly looking at large modern apartments in premium locations, which provide a low maintenance lifestyle close to cafes, restaurants and shopping facilities.
In many cases, these buyers are looking to spend as much as, or more than, the sale proceeds from their large family home.
Cronulla has become a popular location for empty nesters and retirees with a number of modern boutique complexes being constructed in recent years.
A large modern garden apartment, opposite the beach, sold in June 2017 for $2.76 million.
The apartment, at 4/29-31 Prince Street, (below) comprised 3-bedrooms, 2-bathrooms, double basement car space and a large wraparound yard area providing beach and ocean views.
<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/2017/09/08/429-31%20Prince%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Property investor demand in south Sydney drops: HTW

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A fitted out office space in the lower North Shore Sydney suburb of Artarmon has sold for $5,950,000.
The building at <a href="https://www.realcommercial.com.au/property-offices-nsw-artarmon-5758420" target="_blank">11 Waltham Street</a> includes office spaces, a reception area, boardroom and workstation areas.
The property last traded in 2009, selling for $4,050,000, according to Corelogic RP Data.
It has an area of 1,645 sqm and the zoning is Industrial.
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Office space in Sydney's North Shore sells for $5.95 million

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<img src="https://counter.theconversation.edu.au/content/83443/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Sydney “lockout laws” have created significant debate about whether crime is being reduced, if it is being pushed into surrounding areas, and what the impacts are on local residents.
My research with Georgia Perks found that, despite reports of increased violence in these areas surrounding the lockout zone, the benefit outweighs the costs for local residents.
Our analysis of rental prices shows a small decline immediately after the lockout laws came into effect in February 2014. Since then, rents in these areas have outstripped other comparable areas in Sydney. 
This shows that residents of areas affected by the lockout are benefiting from new entertainment hubs and a nightlife economy that have sprung up since the lockout laws took effect.
<a href="https://www.propertyobserver.com.au/images/2017/09/12/Screen%20Shot%202017-09-12%20at%208.52.38%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/12/Screen%20Shot%202017-09-12%20at%208.52.38%20AM.png" alt="">
<h2>The impact of the lockout laws on crime</h2>
The lockout law prohibits people entering hotels, registered clubs, nightclubs and karaoke bars after 1.30am in several areas of Sydney’s CBD (also called the Sydney Entertainment Precinct). These venues also have to stop serving alcohol after 3am. 
This law is a type of “geographically targeted crime control”. This means it targets “hot spots”, rather than the root cause of the crime.
If we are simply concerned about crime reduction, there are now several studies that show the lockout laws have substantially reduced the amount of alcohol-related violence and injuries in the targeted areas.
Restrictions on alcohol access have also been shown to work elsewhere, notably in Western Australia, Newcastle, and Queensland. Outside of Australia, this has been shown to work in the United States, Sweden, and the Netherlands.
So there is sufficient evidence to support the effectiveness of restrictions like the lockout laws in reducing crime in the targeted areas. But the research also shows increased violence in neighbouring areas, suggesting crime has moved. 
An important question is whether increased nightlife in these surrounding areas outweighs the cost of increased crime, and what is more important to local residents. 
<h2>Weighing up the lockout laws</h2>
A standard way to quantify the pros and cons of a policy like the lockout laws to local residents, and to weigh up factors such as crime and added entertainment venues, is to look at housing market data. 
When they make their decisions, potential buyers and sellers take into account information such as local crime and amenities (schools, entertainment venues, etc). Market prices then reflect this information and decision-making. If the average price in an area increases that means the value of living in that area has increased, taking all factors into consideration.
Using this logic, we studied rental prices in areas surrounding the target areas for the lockout laws. More data is available on rental prices in the short run than house prices, so it is useful to study the immediate market response to new policies. 
<a href="https://www.propertyobserver.com.au/images/2017/09/12/Screen%20Shot%202017-09-12%20at%208.55.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/12/Screen%20Shot%202017-09-12%20at%208.55.04%20AM.png" alt="">
We collected prices both before and after the lockout law took effect, and compared areas in Sydney that have entertainment venues such as Newtown and Pyrmont (the “displacement area”) with areas that don’t, such as Alexandria, Chippendale, and Rozelle (the “control area”).
Our results show that there was a relatively small drop in rental prices of smaller dwellings (most likely to be on the main roads surrounding entertainment venues) in areas neighbouring the lockout, but this effect was weak and short-lived. This indicates that the market responded negatively to the increased crime being displaced from lockout areas, but this sentiment dissipated quickly.
On the other hand, we observe a greater, positive effect for larger dwellings. These are most likely to be off the main roads, having some separation from the noise and lights of the entertainment hubs but still near the nightlife. This phenomenon persisted throughout our study period, as shown in the following chart. 
The trend in the displacement area outweighed the trend in the control area. This difference after the implementation of the laws is statistically significant.
Overall our research strengthens the idea that the lockout laws are effective in controlling alcohol-fuelled crime and violence. Data show that crime and violence in displacement areas increased by a much smaller amount than the reduction in the lockout areas. This means residents in the displacement areas are actually better off due to new access to entertainment venues and the nightlife economy. 
However, this is not a full endorsement of the lockout laws. Neither our research nor earlier studies have investigated the business side of the lockout laws and the impact on the nightlife economy. There are likely to be forgone profits and lost jobs in targeted areas, as well as extra profits and new job opportunities in the displacement areas.
Similarly, we should study the gains and losses of non-resident late-night partygoers. The loss of nightlife and live entertainment culture in the target area was continuously highlighted in the debate. 
These concern have influenced a recent relaxation in the lockout laws for establishments that provide “genuine live entertainment”. Is this the right decision? We have a strong evidence of the effectiveness of the Sydney lockout laws in crime prevention. What we need is further evidence of the effects on these other groups.
<a href="https://theconversation.com/profiles/shiko-maruyama-405538" target="_blank">Shiko Maruyama</a> is Associate Professor of Economics, University of Technology Sydney and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Are residents better off under the Sydney ‘lockout laws’?

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The number of total listings in Sydney has risen by almost 19% on the same time last year, according to CoreLogic’s latest report.
The property data firm says that in the past 12 months listings in Sydney has risen to 22,776.
This makes Sydney having the highest listing growth in the past 12 months with Adelaide coming second with 5.1%.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.35%20am.jpg" target="_blank">Click 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/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.35%20am.jpg" alt="">
Hobart took the top spot with the highest decline in listings in 12 months with a drop of almost 30%.
Sydney is also the most expensive locality to purchase a property with houses sitting at a median price of $900,000 while units have a median price of $700,000.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.44%20am.jpg" target="_blank">Click 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/2017/09/11/Screen%20Shot%202017-09-11%20at%2011.30.44%20am.jpg" alt="">
Hobart is the cheapest place to purchase properties with houses sitting at $395,000 while units sit at $306,250.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-glen+alpine-126152666" target="_blank">144 Englorie Park Drive</a>, Glen Alpine (above) has been listed for between $959,000 to $999,000.
Built in 2000 it last sold for $555,000 in 2003.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cobbitty-126254914" target="_blank">208 Cobbitty Road</a>, Cobbitty (below) has been listed for between $920,000 to $990,000.
It last sold in 2009 for $500,000.
<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/2017/09/11/208%20Cobbitty%20Road.jpg" alt="">
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Sydney's total spring 2017 property listings up by almost 19%: CoreLogic

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The Allawah Hotel in Sydney's southwest has been sold for about $30 million in private equity style transaction through Ray White Hotels. 
It is believed, but unconfirmed, that White &amp; Partners, the private investment vehicle of Australia's most famous real estate family, has secured the Allawah Hotel.
The hotel is ranked 140 in NSW’s latest Top 200 gaming rankings.
Its sale brings the total number of A-grade freehold hotels sold in Sydney in the past 18 months to 25, selling agent Andrew Jolliffe of Ray White saying he was confident of further market strength given the underlying fundamentals for the sector. 
The Allawah Hotel was sold in an off-market transaction.
It is situated on a 1,274 sqm corner site and close to the Allawah Train Station.
The vendors, parties associated with the Feros family JDA hotels, had owned the property since 2007. It is understood that JDA hotels have retained an ownership percentage and entered into a management agreement with the new purchasing entity. 
"This is uncontroversially a very strong A Grade gaming hotel sale, and consequently is indicative of a transaction which required a different approach than that typically deployed,” said Ray White’s Andrew Jolliffe, who brokered the deal.
The sale was a combination of a “hard asset changing hands, a significant equity refresh event and the implementation of a Management Agreement,” added Jolliffe, saying such deals will will enjoy currency in the future.
Speaking on behalf of JDA hotels, founder John Feros agreed that the private equity style deal structure was something his group had done in the past. 
"We had owned the Allawah Hotel for over a decade and decided the time was right to recalibrate the capital stack" advised Feros. 
"Suffice to say, we're very happy with the deal that has been concluded, and look forward to working with our new investor group to reposition the property so as to seek new value accretion opportunities.”  
Joliffe’s recent sales include the Coolibah Hotel 40 million, and the Tennyson Hotel which was sold to the Justin Hemmes-led Merivale group for $37.05 million.
Both are ranked in the top 60 in the state.
The Ray White Group said it recorded its biggest ever year with $44.7 billion in sales in 2016-17, up four per cent on the previous fiscal year.
 
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Southwest Sydney hotel changes hands for about $30 million 

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A heritage freehold building in the Sydney CBD has been listed for sale.
Located at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502504018" target="_blank">332 Kent Street</a>, the 485 sqm property was built in the 1880s as a warehouse.
It features original historic window façade.
The building's refurbishments include two passenger lifts.
The property is fully leased with a net rent of $1,004,950 and a 4% increase per year across all tenancies.
Its net lettable area is 1,570 sqm.
The building enjoys a prime CBD location and has a wide 28 metre frontage to Kent Street.
The property is offered through Savills agents Graeme Russell and Tim Grosmann.
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