<p><a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.</p>

<p>A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.</p>

<p>Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360965]</p>

<p>“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.</p>

<p>From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.</p>

<p>The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360981]</p>

<p>Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.</p>

<p>A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.</p>

<p>Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360966]</p>

<p>Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.</p>

<p>“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.</p>

<p>Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360969]</p>

<p>Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.</p>

<p data-end="8307" data-start="8063">The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.</p>

<p data-end="8543" data-start="8312">“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”</p>

<p data-end="8915" data-start="8548">The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.</p>

<p>The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.</p>

<p>[smartcode_project_cta:default project_id=149670]</p>


Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

<p>A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.</p>

<p>The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.</p>

<p>Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.</p>

<p>The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.</p>

<p>The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" /></p>

<p>Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.</p>

<p>Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.</p>

<p>The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."</p>

<p>The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" /></p>

<p>Campbelltown has been starved of new residential developments in the last decade.</p>

<p>The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.</p>


First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

<p>
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</style>
</p>

<p>A 60-apartment building nine storeys tall would be a rarity almost anywhere along this stretch of Moreton Bay, but that's exactly what's been lodged for a modest Deception Bay street better known for its single-storey weatherboard homes.</p>

<p><a href="https://www.apartments.com.au/developers/sherlock-construction-homes">Sherlock Construction Homes</a> is seeking to push Deception Bay’s emerging medium-density housing profile higher, lodging plans for a nine-storey apartment building near the suburb’s shopping centre and foreshore.</p>

<p>Dubbed Grosvenor Apartments, the proposal at 14-20 Grosvenor Terrace would replace two detached homes with a new building designed by&nbsp;<a href="https://www.apartments.com.au/architects/mode">Mode Design</a>&nbsp;which would&nbsp;reach nearly 30 metres, well above the site’s mapped 21-metre building height.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="86c21a25-5a97-4ca7-a361-80757137ea5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%20front.png?VersionId=aXIujfvEhH33sLHOEjHFv9Ii6qxSvAF4" /></p>

<p>The apartment mix is weighted toward larger homes, with 14 three-bedroom apartments, 31 two-bedroom apartments and 15 one-bedroom apartments. Six apartment types are spread across the floors, ranging from 66 sqm one-bedroom units through to three-bedroom apartments of 116 sqm, most with private balconies or terraces.</p>

<p>Levels one through seven follow a consistent layout of six to eight apartments per floor arranged around a central lift and stair core, with the top floor, level eight, trading one apartment for a landscaped community breakout space rather than repeating the standard layout below.</p>

<p>Ground floor is dedicated to arrival and services, with a lobby, mailroom and manager's office, alongside 91 car spaces.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="b098bde0-5fe1-4e6c-9601-e5446612e5fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20podium.png?VersionId=A0hfENMNxSxkfh9Jl6D4WJ9XIraeOukA" /></p>

<p>Mode Design's brief describes a "serene coastal-inspired design blending soft curves, natural textures and light-filled spaces to reflect the relaxed Deception Bay lifestyle."&nbsp;</p>

<p>The material palette leans on white and grey render, timber-look aluminium screening and stacked-brick-look finishes, with hanging greenery and vine planting proposed across balcony edges and ground-level walls.&nbsp;</p>

<p>Balconies feature asymmetrical geometries intended to vary the building's rhythm rather than repeat a single module up the tower, while lush planting is concentrated over the entry and level one balconies to soften the building's base.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="c05c5693-3e00-42d0-b075-55c36094f4db" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%201.png?VersionId=cMKJgBsBaaVCd2dA5O22SOT38OT_.BPA" /></p>

<p>The design evolved following an April 2025 prelodgement meeting with council. At that stage, the project was conceived as a seven-storey building containing 45 apartments. The subsequently lodged scheme increases the development to nine storeys and 60 apartments while introducing one-bedroom residences to the mix.</p>

<p>Zone Planning argues the additional scale reflects the site's position within an area earmarked for increased residential intensity. The planning report points to the North Lakes-Redcliffe-Moreton Bay Rail corridor strategy, which identifies Deception Bay as a district-level activity centre and supports greater housing choice within urban neighbourhoods.</p>

<p>Market Square Deception Bay, Deception Bay Sports Centre, Deception Bay State School, public transport, community facilities and the Moreton Bay foreshore are all identified within approximately one kilometre of the site, while the property falls within a 400-metre walking catchment of Market Square.</p>

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

<p data-end="587" data-start="368">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.</p>

<p data-end="778" data-start="589">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.</p>

<p data-end="907" data-start="780"><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.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">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.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">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.</p>

<p data-end="1908" data-start="1678">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.</p>

<p data-end="2142" data-start="1910">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.</p>

<p data-end="2142" data-start="1910"><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" /></p>

<p data-end="2308" data-start="2144">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.</p>

<p data-end="2648" data-start="2310">"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.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">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.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"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."</p>

<p data-end="3818" data-start="3664">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.</p>

<p data-end="4076" data-start="3820">"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.</p>

<p data-end="4375" data-start="4078">"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."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"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."</p>

<p data-end="4910" data-start="4743">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.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


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

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<p data-end="600" data-start="394">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.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">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.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">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.</p>

<p data-end="1357" data-start="1161">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.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">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.</p>

<p data-end="2269" data-start="2047">"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.</p>

<p data-end="2430" data-start="2271">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.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">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.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"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.</p>

<p data-end="3400" data-start="3216">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.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney

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<p>CoreLogic data shows settled transaction numbers have levelled over the most recent three months.</p>
<p>At just under 110,000 settled transactions, sale numbers are down 5.3% compared with the June quarter.</p>
<p>They are 15% lower than the September quarter last year.</p>
<p>There are fewer than 20,000 dwellings currently being advertised for sale across Sydney, which is less than half the number of homes that were listed for sale five years ago.</p>
<p>CoreLogic head of research Tim Lawless said reduced stock levels create urgency in the market, adding to the upwards pressure on dwelling values.</p>
<p>“Conversely, in markets like Perth and Darwin, where dwelling values have been falling consistently, the slowdown in transaction numbers is related to demand, which is evidenced by the higher number of homes available for sale, as well as the sharp slowdown in migration rates.</p>
<p>"With advertised stock levels close to record highs in Perth and Darwin, buyers now have a lot more choice when selecting a property and can negotiate hard on price,” he said.</p>
<p>Perth and Darwin have consistently been recording the highest vendor discounting rates at just over 8% on average, as well as the longest average selling time at 75 and 84 days on average.</p>
<p> </p>
<p><a href="/images/2016/10/03/Monthly%20settled%20dwelling%20sales%20national.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/03/Monthly%20settled%20dwelling%20sales%20national.jpg" alt=""></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">As the spring selling season progresses, CoreLogic is now seeing a rise in newly advertised listing numbers, however, there are fewer newly advertised properties entering the market compared with a year ago across the combined capital cities.</span></p>
<p>Lawless said the weaker new listing trend is mostly attributable to the Sydney market, where newly advertised listings are 18% lower than the same time last year.”</p>
<p>“Interestingly, real estate agent activity across CoreLogic platforms, as measured by the CoreLogic listings index, has been tracking higher than a year ago, despite the lower amount of fresh stock being added to the market. Increased levels of agent activity translating into fewer new listings indicates a heighted level of competition amongst real estate agents for listings. Sellers may also be nervous about selling in a strong market, especially with the consequential challenges of buying well in that same market.”</p>
<p>According to Mr Lawless another factor affecting transaction counts is the level of undercounting due to the record-high number of off-the-plan sales yet to reach settlement.</p>
<p>As off-the-plan units move through their settlement phase, transaction numbers will revise higher, he said. </p>
<p>He also suggested despite the low mortgage rate environment, high transaction costs may also be a disincentive for the lower numbers transacting in the housing market.</p>
<p>"Due to bracket creep and higher dwelling values, we’ve also seen stamp duty dollar value payments rise substantially.</p>
<p>"In addition, percentage-based expenses such as agency commission fees for vendors have moved higher as the value of housing rises.</p>
<p>"It is likely that an increasing number of home owners are weighing up the pros and cons of the costs associated with selling and buying, or, staying where they are.</p>
<p>"It seems an increasing number, particularly in Sydney, are choosing the latter.”</p>
<p>“Clearly, many factors are at play across Australia’s housing market. In fact, there isn’t just ‘one’ single housing market nationally, there are a multitude where conditions vary substantially by way of geography, housing type, and price point,” he said.</p>
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jchancellor-FAypfDUnLy

Just how much Sydney property listings have shrunk: CoreLogic

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<p>NSW Government figures showing new home building in Sydney at a 16-year high have been welcomed by the Housing Industry Association.</p>
<p>HIA Senior Economist Shane Garrett said these figures from the NSW Department of Planning &amp; Environment indicate that 30,191 new homes were completed in Sydney during 2015/16, the highest since 1999/2000.</p>
<p>“This represents a 10.4 per cent increase on the previous financial year, with multi-units now accounting for two out of every three new homes in the Sydney area,” he said.</p>
<p>In 2015-2016, 30,191 new houses and apartments were completed, up 10 per cent year-on-year, figures from the Metropolitan Housing Monitor released to Fairfax Media on Tuesday found. This compared to 30,520 new homes built in 1999-2000, when builders were rushing into the market before the introduction of GST in July 2000.</p>
<p>About 40 percent of the completed houses and apartments were concentrated in six local government areas, including the City of Sydney, Blacktown, Camden, Parramatta, Liverpool and The Hills.</p>
<p>“The output of the residential building industry has provided homes for almost 80,000 people in the Sydney area during 2015/16 alone. It is important that Sydney’s dwelling stock expands in order to accommodate the strong, migration-driven growth in the local labour market," he said.</p>
<p>“The strength of new home building in Sydney over the past few years owes much to the low interest rates in place, as well as the rebound in tourism and skilled services in the city.</p>
<p>“However, obstacles with respect to planning, land supply and the affordable delivery of housing infrastructure all risk preventing the Sydney economy from reaching its full potential over the long term."</p>
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j.ballantyne1990-6AQqhLzZaK

Sydney home building at 16-year high: HIA

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<p>Pegasus, one of Palm Beach’s landmark properties, remains for sale.  </p>
<p>The north-facing residence has been the home of retired law professor <span>Jane Swanton </span>since the 1970s.</p>
<p><img src="/images/2016/09/29/Pegasus%20interior.jpg" alt="" width="341" height="181"> </p>
<p>Swanton was the first female graduate of the law school to be appointed to the lecturing staff of Sydney University.</p>
<p>The two-storey house is perched on a triangular 1144 square metre block above the Palm Beach baths.</p>
<p>It has five bedrooms, two bathrooms and takes in panoramic views over the beach, Pittwater and north along the coast.</p>
<p><img src="/images/2016/09/29/Pegasus%20exterior%202.jpg" alt="" width="351" height="171"></p>
<p>Peter Robinson and David Edwards, of LJ Hooker Palm Beach, are selling the<a href="https://www.realestate.com.au/property-house-nsw-palm+beach-123430822" target="_blank"> white 1940s house with its yellow awnings</a>.</p>
<p>There was a $12 million asking price. </p>
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Pegasus at Palm Beach yet to find buyer

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<p>The Sydney metropolitian council regions with the highest proportion of loss-making resales over the June quarter were: Fairfield (5.1%) and both Gosford and Strathfield (4.4%), according to the latest CoreLogic Pain and Gain report. </p>
<p>The report compares the most recent sale price to the previous sale price in order to determine whether the property sold at a gross profit or gross loss.</p>
<p>Some 2.5% of Sydney houses and 2.1% of units resold at a loss over the second quarter of 2016, with the proportion of loss-making resales remaining at near record lows.</p>
<p>Only 2% of homes resold in Sydney over the second quarter of 2015 sold at a loss.</p>
<p><a href="/images/2016/09/28/pain%20and%20gain%20sydney.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/28/pain%20and%20gain%20sydney.jpg" alt=""></p>
<p>The Botany Bay council area recorded no resales at a loss over the quarter.</p>
<p>Even those council areas that recorded the highest proportion of loss-making resales recorded a very low proportion of loss-making resales relative to other areas of the country.</p>
<p><a href="/images/2016/09/28/sydney%20pain%20and%20gain%20chart.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/28/sydney%20pain%20and%20gain%20chart.jpg" alt="" style="display: block; margin-left: auto; margin-right: auto;"></p>
<p>Get the full report <a href="https://www.corelogic.com.au/news/file-download?id=56fe4d38-98f3-4f82-b763-e91283945def" target="_blank">here</a></p>
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Fairfield ranks as Sydney's weakest property location: CoreLogic

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<p>Sydney-based developer JQZ has acquired a factory site previously used by the chocolate-maker Darrell Lea in Kogarah, with plans to build more than 550 apartments and townhouses.</p>
<p>Although the price wasn’t disclosed, the deal is believed to be nearly $80 million. JQZ bought the site from Land &amp; Portfolio Pty Ltd - a Lea family company. </p>
<p>The site at 152-206 Rocky Point Road spans nearly 3.3 hectares, with JQZ proposing to build a mixed-use community that will include four towers with about 550 apartments and 18 townhouses.</p>
<p>Jian Qiu Zhang, founder and CEO of JQZ, said the site was perfect for a new master-planned community.</p>
<p>“Kogarah has been identified as a ‘strategic centre’ by the NSW government.  This community will be perfectly located within two to three kilometres of the major employment hubs of Hurstville and Kogarah,” he said.</p>
<p>“Kogarah is home to St George Bank’s head office, which once its major renovation is complete, should result in 3,000 jobs on the site.” </p>
<p>Construction is expected to commence in January 2017 and will be undertaken by JQZ’s own in-house building service.</p>
<p>The site was formerly the factory of confectioner Darrell Lea for many decades. Brisbane-based Quinn family of VIP Pet Foods bought Darrell Lea in 2012, but in 2014 they closed the factory and moved the Darrell Lea manufacturing business to Ingleburn in Sydney’s south-west fringe. Since then the factory site has been vacant.</p>
<p>JQZ expects the development will attract investors, first home buyers and downsizers.  </p>
<p>The site is close to schools and educational institutes such as TAFE and transport. Shopping centres, cafe and restaurants are nearby.</p>
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jonathanchancellor-7SQnKwU6yx

JQZ buys former Darrell Lea site in Sydney's Kogarah for apartment project

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<p>Centuria Property Funds has unconditionally exchanged on the sale of its commercial office property located at 90 Crown Street, Wollongong.</p>
<p>The gross sale price was $43.9 million to a Melbourne based funds management group.</p>
<p>It sets a new record for the Wollongong commercial property market achieving rate per square of $4,786.</p>
<p>The asset was purchased in 2005 for $30.675 million.</p>
<p>According to Jason Huljich, CEO of Unlisted Property at Centuria, Wollongong has recently received significant interest from investors as yields continue to compress in traditional core markets.</p>
<p>“Although much of Centuria’s investment focus is on major metropolitan and fringe markets, primarily in Sydney, Melbourne and Brisbane, where buyer demand has been expanding significantly, we are also seeing strong demand within the core regional markets such as Wollongong,” said Mr Huljich.</p>
<p>“90 Crown Street is well located within the heart of the Wollongong CBD, with excellent access to retail, entertainment and transport links. As one of only a limited number of office developments in the market designed to attract corporate and government occupiers, this landmark property attracted substantial interest from investors.</p>
<p>“Ongoing upgrades to the Wollongong city centre, the expansion of the Wollongong Public Hospital and its popularity for both business and lifestyle have also driven buyer demand,” he said.</p>
<p>Mr Huljich said interest in the sales campaign and the record rate per square metre were validations of Centuria’s active management philosophy.</p>
<p>“The property is fully leased, primarily to Government tenants and delivers an estimated annual income of $3,636,018, which equates to a passing yield of 8.3 percent.</p>
<p>“While managing the asset, Centuria undertook various works to improve the building’s sustainability, achieving a NABERS rating of 4.5 stars and over 70% of the leases were reset prior to taking the asset to market.</p>
<p>"Development approval for additional office and retail space was also secured, which contributed to achieving an excellent result for investors,” he said.</p>
<p>The sale was managed by Knight Frank’s Richard Garland and Jonathan Vaughan, in collaboration with MMJ Real Estate -Wollongong's Geoff Jones, Travis Machan and Tim Jones.</p>
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Centuria exchanges 90 Crown Street Wollongong for record price

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<p>Matraville is set for a new residential development for August 2017 with the construction of Verge.</p>
<p>Verge Matraville encompasses a collection of 22 two and three bedroom apartments, with many enjoying city, Botany Bat and surrounding parkland views.</p>
<p>Prices for the apartments start from $865,000 for two bedrooms and $995,000 for the three bedrooms.</p>
<p>A colour palette of turquoise blue and green inspired by the ocean contrasts with tones of pastel oranges, wile grey oak timber graces the floor.</p>
<p>The gourmet kitchens feature CaesarStone bench tops, breakfast bars and splash backs.</p>
<p>The building will also feature street-level retail spaces.</p>
<p>For more information, <a href="https://www.vergematraville.com.au" target="_blank">click here.</a></p>
<p> </p>
<p> </p>
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Verge Matraville set for August 2017 completion

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<p>Sydney is at risk of a "housing bubble", according to a report from UBS Wealth Management.</p>
<div>
<p>The UBS Global Real Estate Bubble Index report analysed residential property prices in 18 cities around the world. </p>
<p>UBS says Sydney's housing market has been overheating since the city became a target for foreign investors several years ago.</p>
<p>It had been the least risky city in Asia Pacific in 2012. </p>
<p><a href="/images/2016/09/27/Screen%20Shot%202016-09-28%20at%207.16.56%20AM.png" target="_blank"><br class="Apple-interchange-newline">Click to enlarge</a></p>
<p><img src="/images/2016/09/27/Screen%20Shot%202016-09-28%20at%207.16.56%20AM.png" alt=""></p>
<p>"When combined with rigid supply and sustained demand from China, this has produced an ideal setting for excesses in house prices," the report said.</p>
<p>Sydney housing prices peaked in the second half of 2015 after an increase of 45% since mid-2012.</p>
<p>"Since then, prices have corrected by a low single-digit," it noted on Sydney.</p>
<p>"The Australian residential market is influenced by a rapidly growing foreign demand (in particular, Chinese), which has tripled in value over the last three years.</p>
<p>"Increasing supply and further tax measures to reduce foreign housing investments may end the price boom rather abruptly." </p>
<p>The report noted the situation is fragile for the most overvalued housing markets.</p>
<p>A sharp increase in supply, higher interest rates or shifts in the international flow of capital could trigger a major price correction at any time, the report warned.</p>
<p><a href="/images/2016/09/28/Screen%20Shot%202016-09-28%20at%2010.52.29%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/28/Screen%20Shot%202016-09-28%20at%2010.52.29%20AM.png" alt=""></p>
<p>Vancouver tops the index in 2016.</p>
<p>"Bubble risk also seems eminent in London, Stockholm, Sydney, Munich and Hong Kong.</p>
<p>"Deviations from the long-term norm point to overvalued housing markets in San Francisco and Amsterdam.</p>
<p>"Valuations are also stretched, but to a lesser degree, in Zurich, Paris, Geneva, Tokyo and Frankfurt."</p>
<p>In contrast, Singapore, Boston, New York and Milan are fairly valued, while Chicago’s housing market remains undervalued relative to its own history.</p>
<p>While property overvaluations have become more pronounced in many major cities since 2011, according to the report, Vancouver faces the greatest risk of a housing bubble, while London is the riskiest city among the major financial centres. </p>
<p>In contrast, New York, Hong Kong and Singapore prices have stagnated or decreased over the last year, according to the index.</p>
<p>The report noted 'bubble risk zones" where prices within that zone have increased by 50 per cent on average since 2011. </p>
<p>"What these cities have in common are excessively low interest rates, which are not consistent with the robust performance of the real economy," the report stated.</p>
<p>"In a world in which more than a third of all government bonds offer negative yields, investing in tangible assets remains popular.</p>
<p>"So it is hardly any wonder that housing markets are again overheating, just a few years after the last major wave of global correction.</p>
<p>"We see a significant overvaluation of housing markets in some key financial centers.</p>
<p>"What these cities have in common are excessively low interest rates, which are not consistent with the robust performance of the real economy.</p>
<p>"This is illustrated by the Eurozone, where monetary policy cannot accommodate the macroeconomic differences between the countries.</p>
<p>"Yet other countries such as Australia, Canada and the UK are also keeping their interest rates artificially low.</p>
<p>"When combined with rigid supply as well as sustained demand from China, this has produced an ideal setting for excesses in house prices.</p>
<p>"Even in the cities with the clearest signs of a real estate bubble, it is not possible to predict exactly the timing and duration of a correction.</p>
<p>"The situation is nevertheless fragile for housing markets.</p>
<p>"A sharp increase in supply, higher interest rates or shifts in the international flow of capital could trigger a major price correction at any time."</p>
<p>It says the publication UBS Global Real Estate Bubble Index reveals the financial centers where the imbalances are most apparent, and the cities where house prices still have fair valuations overall. </p>
</div>
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UBS sees overheated Sydney's housing bubble risk

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<p>If online listings are any guide, the rental market in Sydney has been tightening lately, with fewer rentals being advertised across a high number of suburbs.</p>
<p>According to the REINSW inner Sydney vacancy rates were unchanged in August at 1.9 per cent, but middle ring Sydney tightened by 0.3 per cent to 1.6 percent, while outer Sydney's vacancy rate of 1.7 per cent was the lowest since November 2015.</p>
<p><a href="/images/2016/09/23/B1-1.jpg" target="_blank">Click to enlarge</a></p>
<div id="x_post-body-4479739622962738159" class="x_post-body x_entry-content">
<div class="x_separator"><img src="/images/2016/09/23/B1-1.jpg" alt=""></div>
<br><div>Smoothing the figures on a 4mMA basis to nip out a bit of the noise shows that Sydney vacancy rates have been fairly flat over the past year in the middle and outer ring, but are some way tighter in the inner suburbs.</div>
<div> </div>
<div><a href="/images/2016/09/23/B2-1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="x_separator"><img src="/images/2016/09/23/B2-1.jpg" alt=""></div>
<div> </div>
<div>The vacancy rate in Newcastle has sneaked back up to 3 percent.</div>
<div> </div>
<div>The Tenants' Union (TU) Rent Tracker found that Sydney unit rents moved 5 percent higher over the past year, while house rents were 3 percent higher. </div>
<div> </div>
<div><a href="/images/2016/09/23/Rents1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="x_separator"><img src="/images/2016/09/23/Rents1.jpg" alt=""></div>
<br><div>Rents have moved sharply higher in Randwick and Woollahra over the past year according to the TU, but regional areas have been found to be "much more stable".</div>
<div> </div>
<div>The TU believes that the CPI measures understate Sydney's rental price growth. Their long run data also shows Sydney rents rising much faster than inflation.</div>
<br><div class="x_separator"><a href="/images/2016/09/23/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="x_separator"><img src="/images/2016/09/23/A4.jpg" alt=""></div>
<div class="x_separator"> </div>
<div class="x_separator"><span>According to the TU over the last 20 years new rents have generally increased at an average of around 8 per cent across Sydney and 5 per cent across the rest of New South Wales.</span></div>
<div class="x_separator"><span> </span></div>
<div class="x_separator">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
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pwargent-M4siyDbqQY

Sydney vacancy rates tighten again

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<div id="post-body-8750789597338754868" class="post-body entry-content">
<div>If there's a subject that I get more emails about than anything else it's the supply of new apartments in Sydney.</div>
<div> </div>
<div>When prices take off you should generally expect a supply response as more projects become viable, until eventually the new supply kills the up-cycle.</div>
<div> </div>
<div><a href="/images/2016/09/22/8.3%20PROPERTY%20CONSTRUCTION%20CYCLE.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/09/22/8.3%20PROPERTY%20CONSTRUCTION%20CYCLE.jpg" alt=""></div>
<div> </div>
<div>And after a period of under-building you only need a working pair of eyes to see that this is taking place in Sydney.</div>
<div> </div>
<div>But instead of drawing conclusions based on emotions or pre-determined 'crashnik' conclusions, let's take a look at what the actual numbers say to see whether we can draw some more specific inferences. </div>
<div><strong><span style="text-decoration: underline;"> </span></strong></div>
<div><strong><span style="text-decoration: underline;">Approvals boom</span></strong></div>
<div> </div>
<div>The first thing to note is how far approvals are tilted towards the multi-unit sector in Sydney today, partly as a result of the constrained supply of land close to the city and the Pacific Ocean.</div>
<br>There were some 55,458 approvals over the year to May 2016 - almost double the level of three years ago - and almost exactly two-thirds of these were multi-units at 66 per cent.<br><br><a href="/images/2016/09/22/A2.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/09/22/A2.jpg" alt=""><br><br><div>When looking at the individual LGAs the most striking point of note is just how many approvals there have been in western areas such as Camden, Blacktown, Parramatta, and Liverpool, as well as in the increasingly populated Hills District.</div>
<div> </div>
<div>Incidentally, the Sydney LGA actually covers an enormous area and more than thirty inner ring suburbs, so it's generally expected that there would be the highest number of approvals in that LGA.</div>
<br><a href="/images/2016/09/22/A3.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/09/22/A3.jpg" alt=""><br><br><div>When the weight of new apartment supply hits home there is likely to be fallout in some of these western suburban localities.</div>
<div> </div>
<div>It's also noticeable how remarkably few approvals there have been in some of the blue chip LGAs such as Mosman, Hunters Hill, Manly, and Woollahra. </div>
<div><strong><span style="text-decoration: underline;"> </span></strong></div>
<div><strong><span style="text-decoration: underline;">Completions lag</span></strong></div>
<br><div>If the impact of the supply response has been muted to date, then the next chart explains why. </div>
<div> </div>
<div>Despite a 21 per cent year on year increase in annual approvals, annual net dwelling completions have increased by only 3 per cent to 30,901 in the year to May 2016 (with a slightly lower 62 per cent of these being multi-unit dwellings).</div>
<div> </div>
<div>While this is an improvement in completions of about one third over the past three years, it needs to be acknowledged that the Greater Sydney population growth is now tracking at abou<span>t <span>~</span>85,00</span>0 per annum (while the cyclical low for completions in 2009 was cataclysmically bad, and the lowest nadir since 1953).</div>
<div> </div>
<div class="separator"><a href="/images/2016/09/22/A1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/09/22/A1.jpg" alt=""></div>
<br><div>This implies that as I have concluded here previously the ratio of dwelling completions to population growth in Sydney was still tracking at below its long run average at least until 31 May 2016.</div>
<div> </div>
<div>And although population growth in Sydney is higher today than it was in the past, there have been 10 years since 1950 where more net dwelling completions were notched up than there were over the past year. </div>
<div class="separator"> </div>
<div class="separator">A prime reason for the supply response being slower than through preceding market cycles is that multi-unit projects on brownfield sites requiring land remediation take a great deal longer to complete than turnkey detached housing developments on greenfield land. </div>
<div class="separator"> </div>
<div class="separator">The number of net dwelling completions remains almost comically low in the blue chip LGAs of the eastern suburbs and lower north shore - with NIMBYism clearly alive and well - but supply is starting to hit its straps in some of the aforementioned higher-density LGAs.</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/09/22/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/09/22/A4.jpg" alt=""></div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Where the pipeline will hurt</span></strong></div>
<div> </div>
<div>The widening gap between approvals and completions means that there are more dwellings under construction in Sydney than has ever been the case before in any Australian city. </div>
<div> </div>
<div>In particular, there is a concentration risk in play with so many of the dwellings under construction being high-rise apartments. </div>
<div> </div>
<div>Take a look at the figures for Parramatta, for example, where there have been 8,646 multi-unit approvals since July 2012 but only 4,946 net dwelling completions. </div>
<div> </div>
<div>That's one heck of a potential supply pipeline, with more units due to come online in adjoining LGAs as well. </div>
<br><div class="separator"><a href="/images/2016/09/22/A5.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/09/22/A5.jpg" alt=""></div>
<br><strong><span style="text-decoration: underline;">The wrap</span></strong><br><br><div>These data lag by a few months, and they show that despite having had relatively little impact to date Sydney's supply response is poised like a coiled spring. </div>
<div> </div>
<div>Up until the end of May 2016 net dwelling completions had barely increased from the prior year in tracking at around 30,000.<br><br>However, there is a record number of dwellings in the under construction phase, so this will be one data series to watch closely. </div>
<div> </div>
</div>
<div class="post-footer">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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