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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The Urban Taskforce believes rejected private sector proposals to redevelop Sydney's White Bay Power Station reduces confidence in the private and public partnership process.
Urban Taskforce chief executive officer Chris Johnson said after 13 teams have spent millions of dollars in good faith the whole process has been cancelled.
“It would appear that the brief was just too restrictive with the requirement to only house technology companies while restoring a decaying heritage building and to somehow fund this from very limited new development," he said.
“The large development companies in NSW have previously had two rounds of proposals for the central area of Barangaroo cancelled and with the termination of the White Bay proposal process, tens of millions of dollars have been wasted.
“There is also much confusion around the White Bay site about the impact of WestConnex and future public transport options. This lack of clarity increases the risk to the private sector in preparing proposals but it is very unfair to use this as an excuse in rejecting all proposals.
“It now appears that UrbanGrowth NSW were premature in calling for private sector proposals and too restrictive with their brief.” 
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 White Bay Power Station brief 'too restrictive': Urban Taskforce

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Chief executive of real estate group Starr Partners, Douglas Driscoll, has predicted a property bubble in Sydney to form if the market keeps on the same growth trajectory in hand with an imbalance of the housing affordability to wage ratio.
He said at the moment, the average house price is nearly 12 times the average salary in Sydney, which is considered by some respected commentators as the early fizzing of a bubble and added it is now undeniable that we are in unchartered territory and without some intelligent intervention, he believes there could be trouble ahead.  
“Based on demand, I’m hearing that agents are short on listings by 10-20 percent right across Sydney and this could be partly hinging on July 2.
"Elections directly impact consumer sentiment, with the uncertainty usually making people nervous. Historically we have almost always seen a pre-election lull, but at the moment auction clearance rates are hovering around 80 percent and property prices are still ascending across many Sydney suburbs. For me, it is almost inconceivable that a looming closely-fought election and the recently introduced macroprudential measures haven’t appeared to have put the brakes on the market.”
“Property is front and centre of the current political debate, with a strong emphasis on a proposed change in negative gearing concessions. Without thorough morphological research, it is very difficult to predict the full extent of any change in policy, but it is very likely that there would be wide-felt ramifications. Negative gearing has dominated conversation for months – and has taken the limelight away from an even bigger issue: housing affordability.
"According to CoreLogic data, Sydney house prices went up three per cent in May and based on how the market is travelling and I anticipate prices will go up by at least six percent by the end of the year. A bubble is something that has never been seen in Sydney and is understandably a subject that a lot of my peers shy away from discussing, or if they do, simply dismiss out of hand. Economists might be predicting that house prices will fall by 10 percent in 2019 but for me, it’s too far ahead to call. A lot can change in three weeks, let alone three years into the future.”
He said amalgamated councils could help keep the bubble at bay, adding hyper-localisation could feature heavily as part of the solution. 
“I acknowledge that it is an incredibly complex issue and I certainly don’t envy politicians – it’s a real juggling act. The Government is letting things take their natural course, which can be potentially dangerous. Now, I’m not necessarily calling for widespread changes because one size doesn’t fit all. This is primarily a Sydney issue, so tinkering with policy on a national level could create an unwanted butterfly effect elsewhere in Australia," he said.
“One way to address this matter could be to give Sydney’s new ‘super councils’ more power and the freedom to operate with more autonomy after amalgamating. They can’t be toothless tigers. We need to think of more creative ways to problem solve and this could start by looking at trialling localised or hyperlocal policies in certain areas. My only caveat would be that they are still ultimately under the auspices of the State Government for guidance and supervision.”
"This may not seem as far-fetched as it sounds; similar systems currently exist elsewhere. In the UK suburb of St Ives for example, one in four properties were believed to be used as holiday homes, being vacant most of the time. To combat this, legislation was introduced where new-build properties are only available to full-time residents in a bid to preserve community. Off the back of this, Douglas believes Australia should look to countries with similar systems for inspiration about what might work on our soil. 
“Both policy makers and real estate professionals alike cannot afford to take an ignorant approach because we will lose a lot of credibility if we don’t address, acknowledge and pass comment on these complex issues – the negatives as well as the positives. Today’s consumer is educated and informed, and they look to us for candid advice. It’s our duty to be transparent, even in times when we are faced with situations that make us feel uncomfortable. We must take a responsible solution-orientated approach to the facts as we find them."
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Hyper-localisation key to avoid property bubble: Douglas Driscoll

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<h2>Domain has released a list of Sydney suburbs where there was a 100% success rate at auction last month.</h2>
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<h2>Suburbs with a 100 per cent clearance rate in May</h2>
<h2>Houses</h2>
– Alexandria – Artarmon – Croydon Park  – Croydon  – Warriewood  – Birrong  – Cammeray  – Killarney Heights  – Naremburn – North Bondi  – West Pymble 
<h2>Units</h2>
– Lane Cove  – Wollstonecraft – Rose Bay  – Maroubra  – Bondi Junction  – Alexandria  – Botany – Woolloomooloo  – Epping – Vaucluse
Source: Domain Group
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Sydney's strongest May auction suburbs: Domain

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Headlines over the past few weeks have used words such as tightening, clamping and crunching when talking about the housing market and its affiliate institutions, Residex analyst Eliza Owen has noted.
"While a bearish approach to property is expected as we enter a downswing in the market cycle, further context and data are needed for a more grounded perspective," she said.
Table 1 presents the statistics summary for April.
Table 1: April 2016 Summary
<a href="/images/2016/05/31/Table_1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/31/Table_1.jpg" alt="">
Source: Residex
Quarterly growth in the value of Sydney’s median house was a modest 0.03 percent, which is off the back of losses in the March quarter. The result is a stagnant median house value of just over $1,040,000, where it has been hovering around since January.
"On the other hand, units in the Sydney market increased a significant 1.26 percent over the April quarter, following losses in January," Eliza Owen said.
The median Sydney unit is now at a historic high of $695,000.
The Melbourne market experienced more significant easing in the April quarter, with the median house and median unit value dropping by approximately $5,000 and $3,000 respectively. As Melbourne tends to follow Sydney at a lag, there could be further short-term fluctuations in this market over the next few months, rather than a distinct downward trend.
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Residex anticipate downswing, as Sydney units hit record $695,000

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Is this quote by Johnny Isakson the perfect property quote – “In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.”
Let’s focus on the part of governments in property – more particularly as it relates to Sydney and its many niche property markets. Local governments are being amalgamated so that the NSW government can put on its developer cap and start approving thousands upon thousands of new developments. They identify overseas buyers as the driving force so they then introduce higher duties to get a greater tax grab. The federal government (since December 2008) allows one hundred per cent of all new developments to be sold offshore driving overseas investor demand to levels never seen before – the perfect property storm has been created but who will clean it up?
Firstly, we need to pinpoint when this newly created apartment – a – thon peaked which would be around mid – 2013. Barangaroo was the star attraction with 750 new harbour side apartments that sold in a matter of hours smashing per square metre records. These per square metre rates were then factored into every other new development and the investors came in fast, which in turn led developers to pay record prices for property sites thus creating an insatiable property appetite for investors and property developers.
Then 18 months later the Australian Prudential Regulation Authority (APRA) on December 9, 2014 tightens lending regulations resulting in higher deposits from investors buying off – the – plan. Although not much was said at the time the investor cracks were starting to appear despite developers and real estate agents buying record amounts of polyfilla. Next in July 2015, APRA announced that the big four banks and Macquarie Bank must hold more capital to provide a buffer against defaults by investors.
In May 2015, then federal treasurer Joe Hockey announced that the Australian Taxation Office (ATO) was being handed full control over all property acquisitions in Australia. This then led to the ATO announcing that every property transaction dating back to 1985 would be recorded and placed on their property register. Foreign investor participation in Australia’s property markets had spiked to $34.7 billion in 2013/14 up from $17.6 billion the previous year, so suspicions were on the rise. I might add that some market commentators (like myself) had been raising concerns well before this.
Who could forget the piece I filed back on 5 March 2015 – Treasurer Joe’s Villa del Nightmare when the ATO announced the first divestiture notice for a $39 million Point Piper mansion that was bought by a foreign buyer without Australian residency. The subject property was then flipped to a friend who just so happened to have an Australian residency and the case was closed – or so we were led to believe.
Last week (a premature announcement broke) –<a href="https://www.ato.gov.au/Forms/Foreign-resident-capital-gains-withholding-clearance-certificate-application-instructions/"> Foreign resident capital gains withholding clearance certificate applications</a> would be required for every property in Australia selling above $2 million from 1 July 2016. I was reliably informed that the grand plan is that clearance certificates will apply for every Australian property down the track. Here is the official<a href="https://www.ato.gov.au/uploadedFiles/Content/LB_I/downloads/FRCGW%20-%20clearance%20certificate%20application.pdf"> ATO clearance certificate</a>application from the ATO website.
So does this then take our attention (well mine anyway) to the fact that quite possibly in the very near future the ATO, who have been very quiet of late on all matters pertaining to divestiture notices, may soon have some big announcements? Assuming all those who purchased illegally will not be able to receive a clearance certificate – so the ATO pockets 10 per cent of the selling price from every sale?
The big problem here is that most in the industry knows that the Asian buyers have dropped off significantly, as too the Asian developers. Sydney has approximately 30,000 new apartments nearing completion and how many of those properties will have defaulting buyers? We know what the first market sale price was and nobody can intelligently predict what the second sale price may be. Guesstimates range from a 10 to 50 per cent correction depending on the volume of property coming on to the market, and rest assured you can no longer apply the Barangaroo square metre rate set back in mid – 2013.
If these defaults do happen and the second sales prices are well below the initial selling price this will then throw all the thousands and thousands of off – the – plan sales into complete chaos. Then all the future developments are shelved given these once strong markets have disappeared. Councils have been merged so what then happens to that grand plan of high density future developments?
Sydney for a few years now has been showing clear signs of investor growing pains. Although this time around the vast majority of these new developments are still a way off completion. If we go by past markets the banks are about to become reluctant property owners – so what’s the plan?
Sadly, there is no plan – just cross your fingers and hope that level heads prevail. Quite fascinating that with all these massive high – density developments that in this day and age we still don’t have a governing body regulating Australian property markets.
I get that feeling that we will need more than an umbrella.
<h5>MOSMAN – 2088</h5>
Number of houses on the market this time last year – 68
Number of houses on the market last week – 55
Number of houses on the market this week – 51
Number of apartments on the market this time last year – 46
Number of apartments on the market last week – 50
Number of apartments on the market this week – 42
<h5>CREMORNE – 2090</h5>
Number of houses on the market this time last year – 8
Number of houses on the market last week – 11
Number of houses on the market this week – 10
Number of apartments on the market this time last year – 13
Number of apartments on the market last week – 22
Number of apartments on the market this week – 18
<h5>NEUTRAL BAY – 2089</h5>
Number of houses on the market this time last year – 7
Number of houses on the market last week – 8
Number of houses on the market this week – 8
Number of apartments on the market this time last year – 26
Number of apartments on the market last week – 22
Number of apartments on the market this week – 20
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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The property storm Sydney had to have: Robert Simeon

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Parts of Sydney's booming apartment market such as Mascot, Zetland and Waterloo could be in for a price correction next year due to oversupply, according to a property consulting firm Opteon Property Group.
With nearly 20,800 apartments this year and a further 26,000 expected to settle in Sydney next calendar year, the tide is turning for landlords and developers as price growth slows and buyers of off-plan apartments sell for less into an oversupplied secondary market, said a report in The Australian Financial Review based on valuation firm's research.
Sydney is constrained by a lack of sites in the city centre, unlike Melbourne and Brisbane, and new projects have spread out to the metropolitan area. 
"There are numerous new developments in some areas and there is a risk of an oversupply issue which looks to bite around 2017-2018," Opteon said in the analysis. 
"Suburbs to watch are Mascot, Zetland, Waterloo and Alexandria which are considered high density suburbs, with high rates of new off-the-plan apartments and potential over supply," it said. 
The oversupply - and pain - will not be uniform, it says. Sydney doesn't face the widespread price apartments expected to result from the wave of looming settlements in Melbourne and Brisbane, as it still suffers a shortage of homes and unaffordable prices of detached homes mean many buyers have no choice but to go for an apartment. 
But the analysis is the strongest sign to date that even Sydney is hitting the ceiling of housing construction this cycle, the AFR report said.
NSW has approved more new apartments than Victoria every month on an annualised basis every month since June 2013. Data from the Australian Bureau of Statistics show that in the year to March, NSW gave the green light to 40,770 new apartments, townhouses and semi-detached homes, while Victorian planners approved 32,679. 
Other observers think parts of Sydney's apartment markets are in for a correction. Development in the Northern Districts is surging ahead of the planned North West Rail Link but it could prove too much, said Angie Zigomanis, forecaster BIS Shrapnel's senior manager for residential property. Parramatta in the west could also find itself with too many apartments, he said. 
"In general, it will only be localised pockets if there is oversupply," Zigomanis said. 
Any correction will not be immediate. Buyers of recently completed off-the-plan apartments - those purchased around 2013/14 - are generally in the black because the subsequent surge in prices has already pushed market prices above what they paid, Opteon said. 
But apartments sold since last year - "in large numbers to overseas investors at a premium" - are the ones at risk as they will not see the capital growth earlier purchasers have enjoyed, Opteon said. 
"As we head into a more steady market, a concerning factor will be 2016 purchasers paying a premium for new product, and not seeing growth in the market towards completion of the complex two to three years down the line, with potential valuations lower than the purchase price," it said. 
Sydney's residential property market has defied expectations of a slowdown, with an auctions market that is strong. But price growth is slowing on the supercharged figures of last year and property in Australia's largest city will be part of a national fall in prices that will come in 2019 and 2020, consultancy Capital Economics said this week.
While Sydney's eastern suburbs were at no risk of oversupply, some southern suburbs were, Opteon said.
Opteon also singled out the suburbs of Asquith and Mount Colah, a recently rezoned growth corridor on the Pacific Highway near Hornsby. 
"Currently there is an oversupply of off the plan development stock currently listed for sale with some of these developments being sold with incentives that are outside of the norm," Opteon said.
"It appears that this market segment may be heading into a period of over supply by late 2016/early 2017 which is likely to have a negative impact on both value levels and rental returns."
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Sydney apartment market could see price correction: research

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Sydney has many fringe suburbs where valuers Herron Todd White suggest there is possible value for money.
Overall the valuers have Sydney has at the start of a decline phase of the property market for both houses and units, according to valuation firm Herron Todd White's May property clock -- a simple broad brush means of suggesting where property prices are and what direction they're headed to.
The capital city was at the same position in April as well.
Here we take a look at 10 Sydney fringe locations as nominated by HTW.
SYDNEY EAST
Double Bay in Sydney’s eastern suburbs, has been revitalised over the past two to three years brought on by a much-needed face lift of the commercial and retail precinct transforming into a vibrant commercial hub.
The recent redevelopment includes new retail shops, Woolworths supermarket and other grocery stores, cafes, restaurants and speciality shops. It also includes the recently completed 2,300 square metre Double Bay Library, giving residents access to state- of-the-art facilities and 442 public parking spaces.
Other major changes include the redevelopment of The Intercontinental Hotel, formerly the Ritz-Carlton and the increased nightlife with various new restaurants, bars and nightclubs which is attracting the younger generation to the area. Night time venues have seen increased crowds since the lockouts in Kings Cross and the CBD which might not be seen as a great result for some, but is still creating a buzz around the area. 
Double Bay’s central location with direct access to ferry services and the harbour, Edgecliff train station and new shopping and commercial precincts has brought back to life its reputation. In five to 10 years Double Bay will still be a high demand suburb with potential for more medium density developments to increase its popularity.
As throughout its history, Double Bay isn’t the cheapest place to live with the medium house price being $3,185,500 as at February 2016 up from $2.405 million in December 2012. The average unit price was $1.250 million as at February 2016 up from $765,000 in December 2012 (source: realestate.com. au). 
Property Observer looked up some recent sales in Double Bay from www.realestate.com.au around the median prices.
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-double+bay-121034166" target="_blank">43 Manning Road Double Bay NSW 2028</a> sold for $3,250,000. 
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<img src="/images/2016/05/27/main.jpg" alt="" width="657" height="493">
Among units, a three-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-double+bay-121993882" target="_blank">3/3 Pine Hill Avenue Double Bay NSW 2028</a> was sold for $1225000, according to RP Data.
<img src="/images/2016/05/27/main-1.jpg" alt="" width="677" height="508">
Sydney Inner West
Dulwich Hill is a suburb in the inner west of Sydney approximately 7.5 kilometres south-west of the Sydney CBD, which has gone through significant changes over the past few years.
In the 1990s many shops were vacant, but in recent years more shops are tenanted with thriving businesses helping to promote the café culture. Cafés and restaurants have become increasingly popular as the suburb becomes gentrified. Marrickville Council upgraded the shopping strip in the early 2000s, enhancing the look and character of the area. There has been increasing numbers of young professionals moving to the area over recent times due to its close proximity to the already gentrified areas of Newtown, Enmore and Erskineville. Dulwich Hill has also been boosted by the recent introduction of light rail. 
The proposed Sydenham to Bankstown Urban Renewal Corridor will see the introduction of a 20-year-plan to provide thousands of new dwellings along the current rail corridor and peak hour trains to the city every four minutes. Re-zoning will allow many medium-rise complexes and shop-tops within close proximity of the rail corridor including in the suburbs of Dulwich Hill, Marrickville and Hurlstone Park. Current parks and open spaces are proposed to be improved as well as enhancements to walking and cycling tracks. 
Dulwich Hill’s medium house price was $1.348 million as at February 2016, up from $850,000 in December 2012. The average unit price was $650,000 as at February 2016, up from $477,750 in December 2012 (source: realestate.com.au).
Sydney Inner South
The inner south area of Sydney in a line from Botany through to Waterloo has seen the transformation of a number of old run down industrial neighbourhoods into modern high density residential neighbourhoods. Suburbs such as Botany, Mascot, Rosebery, Beaconsfield, Zetland, Alexandria, Erskineville and Waterloo have also seen a significant number of large residential unit complexes constructed over the past ten to 15 years. This is set to continue with the precincts around Mascot and particularly Green Square railway stations to undergo significant retail and residential development over the coming decade.
Green Square is approximately 3.5 kilometres from the city centre and four kilometres from the airport and the development of this precinct will take it from its industrial past to a new style of high density living linked to shops, parks, gardens, entertainment and bike and walking routes. At the heart of the Green Square development is the new town centre, a major new residential, retail and cultural hub along with improved infrastructure and community facilities including a new library and plaza, aquatic centre, parks and open spaces, public art, a child care centre and community creative hub. It will eventually have 30,500 new dwellings including about 10,000 now under construction (source: www.cityofsydney.nsw. gov.au).
As discussed the bywords for many of these inner suburbs have been lifestyle options with a café culture. As buyer profiles have changed and medium density options fit both the purse strings and location options, the appeal of an inner suburb unit close to transport with minimal maintenance appears to be a primary driver for the regentrification of many suburbs. Given this change we do not see the appeal of these suburbs lessening over time. 
 
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Sydney's top fringe suburbs: HTW

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Conversions of heritage cottages in and around main roads in outer Sydney have reverted from mixed use, commercial and professional to family homes in the last five to ten years according to valuation firm Herron Todd White.
A great number of period homes, typically Victorian cottages around the outer Sydney suburbs of Windsor and Richmond can also be found near main roads of Wilberforce, Pitt Town, Kurrajong and Richmond.
According to HTW's report on the heritage market, a heritage precinct surrounds the town centre of Windsor with many of the original dwellings heritage listed by Hawkesbury Council.
"At a price range of $500,000 to $700,000 within the townships of Windsor and Richmond, an older cottage on a parcel of 500 to 1,200 square metres with good structural bones can be found that could be further renovated or modernised to add capital value," it said.
"Typically properties between $850,000 and $1.2 million are fully renovated and in central town positions on good sized parcels.
"Homes are rarely traded above $1.5 million however this ceiling is commonly exceeded for a well renovated property in a semi-rural location on the outskirts of these towns on acreage parcels that may also include direct frontage to the Hawkesbury River." 
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Location, land and rare sales define outer Sydney heritage market: HTW 

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Chinese state-owned Poly Group is close to buying two George Street office buildings in Sydney's Circular Quay for about $160 million, nearly 60 per cent more than what they traded for last year.
<div>The buildings at 210 and 220 George Street were purchased last year by real estate investment group Anton Capital on behalf of Goldman Sachs for a shade under $100 million from Mirvac Group, said a report in the Australian Financial Review.</div>
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<div>The properties were the final assets to sell in a nearly $250 million non-core office portfolio that Mirvac put up for sale at the beginning of the year.</div>
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<div>Both Poly Group and Anton declined to comment to AFR on the development.</div>
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<div>The deal, if it goes through, would reflect the keen pricing that Sydney's office properties have been bought for in the last six months including Invesco's purchase of 77 King Street, Investa Commercial Property Fund's $442 million purchase of 420 George Street and Charter Hall's $525 million purchase of Macquarie Group's Shelley Street headquarters. </div>
The deal with Poly is believed to be brokered by JLL, which did not respond to inquiries either, the report said.
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<div>Poly Group has been named as a keen bidder on several properties including the race for the $100 million Telstra site.</div>
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China's Poly Group close to buying two office buildings in Sydney's Circular Quay for $160 million

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ASX-listed Centuria Property Funds Limited (Centuria) and global investment firm BlackRock have agreed to jointly acquire an institutional grade office asset in Sydney's Chatswood for $279.1 million.
 
Centuria, which has $1.9 billion in funds under management, said contracts have been exchanged on the Zenith, the 821 Pacific Highway property in Sydney's Chatswood.
 
The purchase remains subject to FIRB approval, with settlement expected to occur in late July.
 
A new Centuria unlisted property fund, the Centuria Zenith Fund, will co-invest with BlackRock to acquire the property.
 
“Sydney’s North Shore office market is already performing strongly, and we expect that it will continue to experience falling vacancies and strong rental growth over the next few years," said chief executive of Unlisted Property Funds, Jason Huljich, adding he was confident the fund would provide attractive returns to investors due to the strong fundamentals of the location and the property itself.
 
The withdrawal of commercial office space in the CBD and North Shore due to residential conversion and the construction of the Metro will drive above trend rental growth and mean excellent total returns for our investor clients."
 
The Zenith has a diversified tenant mix with about 40 percent of its rental income underpinned by government tenants. It is currently 94 percent occupied and has around 44,000 sqm of net lettable area.
 
“In the current low interest rate environment, there’s no question that investors are becoming increasingly yield-driven. Distribution yields from the Zenith Fund are forecast to be 7.6 percent in the 2017 financial year, growing to 7.7 percent in the 2018 financial year. These are very attractive rates for such a high quality asset,” Huljich said.
 
 
 
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