Joel Robinson

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

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.

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

Sydney

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GUEST OBSERVER
There is no better indicator of the success of a city than the numbers of people who want to visit, live and work there. But this success creates demand for space, which is increasingly hard to come by in a growing number of world cities. This is especially the case on constrained land and historic sites, where expansion potential is limited. 
<h2>Worldwide increases in tourism</h2>
According to the UNWTO World Tourism Barometer, worldwide international tourist arrivals reached 1,138 million in 2014, a 4.7% increase over the previous year, and have already increased by 4% in the first half of 2015.
The Savills 12 Cities Report (which examines worldwide trends) found that nine of the 12 cities included in the report were featured in the top 20 worldwide for international overnight visitors. London topped this list with 18.8 million overnight visitors in 2014, and a huge 300,000 visitors every night.
Although cities in Australia tend to receive a smaller amount of international visitors in comparison to some of the world's top tourist destinations, international visitation is still increasing. According to Tourism Research Australia, Australia saw a 7% increase in international visitors in 2015, which has also led to a growth of 10% for international visitor spend.
This growing trend means that world cities need to consider how to accommodate an increasing number of international visitors. International business people, if they continue to invest in a city, will want to spend time there. The quality, availability and convenience of accommodation – owned or rented – is an important component of city investability and economic success.
<h2>The question then becomes how to accommodate all these visitors</h2>
Governments will need to look at ways to sustainably develop and increase the density of their cities, and extend their reach, or a combination of the two. This means construction and transport infrastructure are likely to remain high on the list of priorities for some time to come.
In addition, certain businesses such as Airbnb have emerged over the past five years to revolutionise how we perceive available space in a city. Instead of building new space, Airbnb connects travellers with pre-existing space (rooms, apartments or whole houses already built). 
New technology and the digital space has allowed this new accommodation platform to disrupt the traditional travel industry, and Airbnb has already hosted more than 50 million guests worldwide, with 1.5 million properties currently listed around the world. 
<h2>Lack of space leads to rising rents </h2>
The inability to keep pace with accommodation demand has created cost pressure, which is why rising rents are a common feature of world cities.
The average accommodation cost per person in the Savills Executive Unit (SEU)* and their household in the 12 cities featured in the Savills 12 Cities Report is now $74,945, compared to $68,538 in December 2008. So despite the recession of 2008-2010, when average live/ work accommodation costs fell by 5%, rents are rising faster than city GDP growth in most jurisdictions.
The biggest rise has been seen in San Francisco, but high live/work rental growth has also been seen in other cities since 2008; New York, Los Angeles, London and Sydney have all seen rents spike between 18% and 28% during this time.
To learn more about the trends across world cities, view the Savills 12 Cities Report <a href="https://pdf.euro.savills.co.uk/global-research/12-cities---h2-2015.pdf" target="_blank">here</a>.
 
Tony Crabb is Savills Australia’s national head of research and can be contacted <a href="https://www.savills.com.au/blog/author/109174/Tony" target="_blank">here</a>. 
 
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jchancellor-FAypfDUnLy

How will the world’s top cities cope with the increase of visitors? Savills' Tony Crabb

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The home of Sydney’s Rockpool Bar &amp; Grill and Spice Temple, 66 Hunter Street is about to come to the market.  
Set within the City Mutual Trust building, the 2,019 sqm space holds two restaurants.
“66 Hunter street comes with long term leases to Australia’s most awarded chef, Neil Perry, who will continue to operate arguably two of the best restaurants in the country at this wonderful location,” listing agent, Miron Solomons of Colliers International said.
"The asset is located in the heart of Sydney’s financial district, and with such a highly regarded, long term and stable tenant in place it will always be highly sought after by a local and international investors. 
The property is being sold by US based investor, David Doyle who has decided that selling the asset in the current market would free up capital for him to explore future opportunities.
Doyle is Perry's business partner.
The international expressions of interest campaign closes March 2 with $30 million plus tipped.
It follows the successful sale of Rockpool restaurant Bridge Street last October for more than $8 million.
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The home of Rockpool Bar & Grill and Spice Temple, 66 Hunter Street on market

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Sydneyï¿½s residential vacancy rates in the inner ring of Sydney have remained tight, according to data released by the Real Estate Institute of New South Wales.
The December 2015ï¿½REINSWï¿½Vacancy Rate Surveyï¿½saw the number of properties for rent remain steady at 1.8 percent.
But REINSWï¿½President John Cunningham noted a large number of developments were waiting to be competed.ï¿½ ï¿½Stock levels remain low in some of Sydneyï¿½s most popular areas and this is set to continue until the completion of many large developments which are underway,ï¿½ Mr Cunningham said.ï¿½ Vacancy rates in outer Sydney rose 0.2 percent to 1.9 percent, while middle Sydney rose 0.7 percent at 2.4 percent due in large part to lower response rates in this area caused by the holiday period.ï¿½
ï¿½Innerï¿½ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.
ï¿½Middleï¿½ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.
ï¿½Outerï¿½ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.
Northern beaches realtor John Cunningham was electedï¿½president of industry bodyï¿½Real Estate Institute of New South Walesï¿½for a two-year term in late 2015.
Cunninghamï¿½started his real estate career in 1977 and opened his own business, Cunninghams, with his wife Ann in 1991. He opened a second branch of Cunninghams earlier last year.ï¿½ He replaced Malcolm Gunning, who remains on the REINSW board.
Elsewhere, rental availability in the Hunter region continued its decline with a fall of 0.2 percent at 2.3 percent. Newcastle was down 0.3 percent at 1.8 percent.ï¿½ In the Illawarra the overall vacancy rate fell 0.1 percent to 0.9 percent despite a rise of 0.4 percent in Wollongong to 1.5 percent.ï¿½ 
In the regional areas New England rose 0.2 percent to 3.3 percent, Albury added 0.8 percent to 3.2 percent and the South Coast was up 0.3 percent to 1.7 percent. Northern Rivers dropped 0.6 percent at 0.9 percent and Coffs Harbour was down 0.8 percent at 1.7 percent.
<a href="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.39%20AM.png" alt="" width="822" height="251">ï¿½
<a href="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.50%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/27/Screen%20Shot%202016-01-27%20at%209.04.50%20AM.png" alt="">
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Inner Sydney landlords face looming competition from higher stock levels: REINSW

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CoreLogic RP Data's weekly update shows that the biggest sale this week came from Clontarf where a five bedroom, four bathroom sold for $5.2 million.
Previously traded at $1.925 million, <a href="https://www.realestate.com.au/property-house-nsw-clontarf-121662870" target="_blank">5 Peronne Avenue</a> (above) sold through James Haywood of Cunninghams Property after just 10 days on the market.
The ultra-modern home has four bedrooms in the main residence and a self-contained studio.
The main 443 sqm residence features a lower level play room and numerous balconies with day beds which offer views over middle harbour and the Spit.
Garden and pool maintenance is included for the resort style pool and its tropical surrounds.
The median house price in Clontarf is $2.55 million, according to CoreLogic RP Data
<img src="/images/2016/01/25/700_botm_house.jpg" alt="" width="591" height="359">
In a distant second was the six bedroom, five bathroom home <a href="https://www.realestate.com.au/property-house-qld-minyama-115791739" target="_blank">3 Minyama Island</a> (above) which sold for $3.9 million through Steve Turner of Sunshine Coast Platinum Properties.
The property, which hadn't been traded since 1997 enjoys 29.3 metres of Mooloolah River frontage which allows deep water access to the Coral sea.
Located on the exclusive Minyama Island, the house is architecturally designed in a relaxed coastal style.
Spread over three levels connected by an internal lift, the home features two full bars, separate wine cellar, billiard room, tiered theatre and a sauna.
The 1500 sqm site also features a full appointed pool-house overlooking the 20 metre resort style lap pool.
The median house price in Minyama Island is $771,250, according to CoreLogic RP Data.
The rest of the highest sales of the week are as follows:
<a href="https://www.propertyobserver.com.au/https://www.randw.com.au/property/0000246267" target="_blank">61 Wyuna Drive, Noosaville</a> - $3.79 million
<a href="https://www.realestate.com.au/property-house-qld-indooroopilly-116184679" target="_blank">18 Kew Street, Indooroopilly</a> - $3.69 million
<a href="https://www.realestate.com.au/property-house-nsw-st+ives-121346118" target="_blank">5 Mudies Road, St Ives</a> - $2.74 million
<a href="https://www.realestate.com.au/property-apartment-nsw-darlinghurst-121157222" target="_blank">12/18 College Street, Darlinghurst</a> - $2.4 million
<a href="https://www.realestate.com.au/property/603-1-pottinger-st-millers-point-nsw-2000" target="_blank">603/1 Pottinger Street, Millers Point</a> - $2.3 million
<a href="https://www.realestate.com.au/property-house-nsw-balgowlah+heights-121433070" target="_blank">63 Ernest Street, Balgowlah Heights</a> - $2.26 million
<a href="https://www.realestate.com.au/property/61-williams-rd-mount-eliza-vic-3930" target="_blank">61 Williams Road, Mount Eliza</a> - $2.153 million
<a href="https://www.realestate.com.au/property-apartment-nsw-waterloo-120362805" target="_blank">21/9 Danks Street, Waterloo</a> - $2.1 million
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jrobinson-rf4aSBido9

Clontarf tops weeks sales with Minyana in second place

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GUEST OBSERVER
Sydneysiders desire to have a house with a harbour or ocean view. Elsewhere a distant mountain view will do. But a view from the house to the vast space is bad for us – the allure of the capacious world out there can only make our body, and our mind, relentlessly unsettled.
The French proverb la forteresse assiégée – fortress besieged – is often used to describe the dilemma of being strangled inside while the freedom of space outside is irresistible. Brilliant though it may seem, the external world lying tantalisingly beyond a thin layer of glass is an inescapable distraction. The million-dollar view, or the readily available one via a smartphone, is not only bad for our body, but also our soul.
<h2>Turning away from the interior</h2>
The ancient Romans would have been terribly puzzled as to why the moderns would want a view of the depressing distance. The rich lived in introvert courtyard houses called domus, while the poor lived in multi-storey apartments known as insula. The poorest of all lived on the upper levels of the insula, with a view (the invention of the safety lift by Otis in 1852 has, up to now, reversed the vertical social pecking order in a multi-storey apartment building).
The Chinese, too, lived in inward-facing courtyards for thousands of years until well into the 20th century. For both the Romans and the Chinese, a slice of sky and the watchful eye of Heaven sufficed. Abundant in pre-modern Chinese literature is the recurrent theme of melancholy caused by gazing into the space afar in a lofty building; Nietzsche’s “pathos of distance” evokes similar sadness and frustration of modern times.
What then has triggered us to clamber willingly into la forteresse assiégée, which, incidentally, the Chinese writer Qian Zhongshu used as a metaphor for an unhappy marriage? Our relentless pursuit of the expansion of space, in both matter and manner, has caused the loss of interior and, more preciously, its associated strength of one’s inner life, which is essential to withstand the pressure of an increasingly depersonalised exterior world.
The works of Edward Hopper – the 20th-century American painter who is said to have portrayed the quintessential human alienation in our time – may shed some light on this syndrome. Hopper’s paintings reveal glimpses of life in a house. The characters, John Updike observes, are as silent as those found in 17th-century Dutch paintings:
As with Vermeer, a mystery seeps in and saturates the most modest levels of activity.
But the solitude is of a different kind: Hopper’s characters are no longer as content as Dutch housewives and children. They are painted with impasto and with no detail, stiff and expressionless. Updike calls this “a polluted silence”.
Polluted by what, I have wondered. Only daylight, oxygen and view are abundant.
Consider this painting by Hopper, Excursion into Philosophy: the man, dignifiedly dressed in white shirt and business trousers, sits on the rim of a solid bed. Beside him lies an opened book. But his frowning facial expression is impervious and yet unsettling – a classical Hopper.
Yes, Hopper is about suspension and the beautifully unsaid, but we still puzzle over what causes the man’s impossible reconciliation: he is torn apart between the book and the half-naked woman lying in bed behind him, and more so the expansive green prairie and blue sky outside the window.
The view invades the room with aggressive glare; the two large patches of light cast on the floor and the wall make it impossible to snug in a corner of the room. Even the bed, painted with Hopper’s heavy brushstroke, looks as hard as a rock.
Hopper once joked about this painting: “He has been reading Plato rather late in life”. But judging from the near-impeccable blue cover of the bed, nothing ever happened.
Did Hopper’s paintings in the early part of the 20th century foretell the increasing impossibility of the interior? His characters, it seems, are struggling for some degree of interior life. Hopper’s windows often have blinds for the upper part, whereas the large area of glass in the lower part admits view and light with abundance.
Dutch windows, unlike that of Hopper’s, and certainly nothing like that of our modern rooms wrapped by floor-to-ceiling clear glass, work in subtle ways. They help to create a cosy intimacy in the room with hints of the street or the garden beyond. In these rooms we see a water jar here, a mandolin there, and a map on the wall. A map or seascape oil painting adequately avails an imagination of the external world, which the Dutch had <a href="https://www.newworldencyclopedia.org/entry/Dutch_Empire">under their command</a>.
The intimacy in a room, which makes one feel at home and content in one’s world, is contributed by a serene illumination. Daylight admitted in these rooms is never abundant. Dutch windows often do not serve the purpose of viewing out.
It is a little eerie to notice that a Dutch window is a reversed Hopper: the lower part, which is the larger part, of the window is equipped with shutters only (glass was expensive and a rare commodity in those days), while the upper part has fixed leaded panes. Daylight pours in from the upper part to give the room a heavenly illumination. Only when weather permits is the lower part opened.
If glass can be afforded, the lower part is a casement frame fixed with coloured glass. Daylight as such is dimmed down to emit a mysterious gloom in the room.
As for the English in the 18th and 19th centuries, with heavy drapes drawn, they were content to sit around the warm fire to read a long novel: while the body is in a comfortably sedentary posture, the mind is let loose to roam freely in the space of imagination.
What we therefore ought to realise is that the million-dollar view is the bait of a modern trap – its fatal destiny, most tellingly settled by T.S. Eliot, is simply to be “distracted from distraction by distraction”.
Xing Ruan is professor of Architecture, Associate Dean International and Director of Architecture, UNSW Australia and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/xing-ruan-219197" target="_blank">here</a>.
 
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Why the million-dollar Sydney view is bad for our body and our soul

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Sydneyï¿½s residential vacancy rates in Inner Sydney have remained tight, according to data released by the Real Estate Institute of New South Wales.
The December 2015 REINSW Direct Connect Vacancy Rate Survey saw the number of properties for rent remain steady at 1.8 per cent, as seen in November 2015.
REINSW President John Cunningham said a large number of developments were waiting to be competed in inner Sydney.
ï¿½Stock levels remain low in some of Sydneyï¿½s most popular areas and this is set to continue until the completion of many large developments which are underway,ï¿½ Mr Cunningham said.
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Vacancy rates in outer Sydney rose 0.2 per cent to 1.9 per cent, while middle Sydney rose 0.7 per cent at 2.4 per cent due in large part to lower response rates in this area caused by the holiday period.
ï¿½Innerï¿½ includes suburbs in the following LGAs: Ashfield, Botany Bay, Lane Cove, Leichhardt, Marrickville, Mosman, North Sydney, Randwick, Sydney, Waverley and Woollahra.
ï¿½Middleï¿½ includes suburbs in the following LGAs: Auburn, Bankstown, Burwood, Canterbury, Canada Bay, Hunters Hill, Hurstville, Kogarah, Ku-ring-gai, Manly, Parramatta, Rockdale, Ryde, Strathfield and Willoughby.
ï¿½Outerï¿½ includes suburbs in the following LGAs: Baulkham Hills, Blacktown, Blue Mountains, Camden, Campbelltown, Fairfield, Gosford, Hawkesbury, Holroyd, Hornsby, Liverpool, Penrith, Pittwater, Sutherland, Warringah, Wollondilly and Wyong.
Availability in the Hunter region continued its decline with a fall of 0.2 per cent at 2.3 per cent.
Newcastle was down 0.3 per cent at 1.8 per cent.
In the Illawarra the overall vacancy rate fell 0.1 per cent to 0.9 per cent despite a rise of 0.4 per cent in Wollongong to 1.5 per cent.
In the regional areas New England rose 0.2 per cent to 3.3 per cent, Albury added 0.8 per cent to 3.2 per cent and the South Coast was up 0.3 per cent to 1.7 per cent.
Northern Rivers dropped 0.6 per cent at 0.9 per cent and Coffs Harbour was down 0.8 per cent at 1.7 per cent.
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ï¿½
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Inner Sydney vacancy rate remains tight: REINSW

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Events in the world’s two largest economies look set to dominate proceedings in 2016. 
The scale of the slowdown in China and the speed of further US interest rate rises will determine the performance of property markets across developed and emerging markets alike over the next 12- 18 months. 
Last year we correctly anticipated that Sydney and New York would outperform in 2015 rising by 5%-10%. 
Sydney has exceeded expectations, prime prices in the city look set to end 2015 15% higher. 
At 5%, price growth in New York has been strong but mitigated to some extent by the strength of the US dollar which has curtailed foreign demand. 
By the end of 2015, we expect the strongest and weakest performing prime markets to be separated by around 20 percentage points, in 2016 we forecast this figure will slip to 15 points as price growth converges. 
Whilst luxury price growth looks set to converge, monetary policy globally is likely to follow a divergent course. 
The US and UK will be tightening monetary policy whilst the Eurozone, Japan and China are expected to either loosen policy further through additional stimulus measures or are likely to stick to the status quo in policy terms.
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This year our Risk Monitor assesses the likelihood and impact of ten key scenarios on each of our cities. 
As we take the pulse of city markets in December 2015, it is perhaps no surprise that the Fed’s recent rate rise and the impact of terrorism/geopolitical tension on the world’s top cities, are currently considered the highest risks to luxury city markets. 
In previous years, the Eurozone and its potential break-up was the top threat to economic and property market stability but jitters over its demise have subsided as the ECB has announced an extension to its QE programme. Instead, emerging markets and the risk of potential deflationary cycles represent the major headwinds for the global economy. 
For most cities, low income growth and a slowing domestic economy are considered the lowest risks to luxury markets. 
There is a chance that the recent 0.25% US rate rise and resulting strong dollar could spark a new wave of safe haven capital flows from emerging markets to first tier luxury residential markets. However, with new supply in several markets expanding (Hong Kong, London, Miami, New York) we think it’s unlikely we will see prices respond in the same way they did post-Lehman. 
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Of the ten cities analysed in our forecast, only three are expected to see prime prices decline in 2016; Hong Kong, Singapore and Paris.
In both years, Sydney is expected to come out on top, although the pace of price growth is expected to slow from 15% year-on-year in 2015 to 10% in 2016. Australia’s economic slowdown, weaker stock market performance in recent months and the introduction of foreign investment fees explain the lower rate of growth in 2016.
Only London, Paris, Geneva and Singapore are forecast to see stronger price growth (or a slower rate of decline) in 2016 than in 2015.
London’s upturn is marginal, from 1% in 2015 to 2% in 2016. Higher transaction costs (a 3% increase in stamp duty for buy-to-let properties and second homes), political risk around the Mayoral election in May, and ongoing affordability concerns explain our muted forecast.
The recent terrorist attacks in Paris will undoubtedly affect buyer sentiment and will mean some buyers delay investments. With a Presidential Election less than 18 months away, however, we do not expect any radical shake up to the tax structure for foreign buyers and the city remains competitively priced compared to other top global cities.
Overall, prime prices across all ten cities are, on average, expected to have increased by approximately 3% in 2015 but average annual growth is forecast to slip to 1.7% in 2016. This confirms our view that lower returns will become the norm in the short to medium term.
Of the cities analysed, Hong Kong is forecast to overtake Singapore as the weakest-performing luxury residential market in 2016. A number of new developments are due to come to the market in 2016, this new supply coupled with a strengthening HK Dollar (pegged to the US Dollar) will see prime prices soften.
The price decline seen in Singapore’s prime residential market is expected to persist at least until the end of 2016 following the government’s assertion that it has no plans to relax its property market cooling measures. However, the drop in price of luxury properties has presented pockets of investment opportunities. We expect sale volumes to increase in 2016 and, due to the shrinking inventory of high-end homes, price falls within the prime sector will be less pronounced than those across the island as a whole. 
In the current climate of heightened political tension and ongoing tax fluctuations, Monaco’s status as a private and secure retreat continues to appeal to the world’s wealthy. With supply severely constrained on the two-mile wide principality we forecast steady price growth of 5% in 2016 as demand and sales activity picks up.
The Geneva market, along with Switzerland as a whole, has been characterised by levels will keep prices from rising over the next 12-18 months, hence our forecast of 0% growth in 2016, but more stable trading conditions seem likely in 2016 and beyond.
In 2015, the demand for New York’s luxury homes cooled from the frenetic pace observed in 2013 and 2014 due to the strength of US dollar and weaker economic conditions worldwide, although it is not expected to impact price trends until 2017. With the US federal and presidential elections due in November 2016 both New York and Miami are likely to see buyers adopt a wait-and-see approach.
South American currencies and the euro will influence demand/capital flows.
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Liam Bailey is global head of research and Kate Everett Allen is international residential research Knight Frank. They can be contacted <a href="https://www.knightfrank.com/research/prime-global-forecast-2016-3450.aspx" target="_blank">here</a>.
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With 10% price growth Sydney tipped to lead the world in 2016: Knight Frank

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The Christmas break is often a time when Australian expatriates buy properties back in Australia to eventually occupy as their home when their overseas assignments end. 
"We expect given the low Australian dollar, that this summer will see many more expats actively looking for a property back here in Sydney," estate agent Vicki Laing noted. 
"There are great buying opportunities for cashed-up expats given the softening state of the Sydney market."
The Australian dollar briefly dipped this year below US70¢ for the first time since April 2009, down from US81c in January 2015, and at US$1.10 in mid-2011. It was around 71c in mid-December.
Many see it going and staying in the 60s during 2016.
Vicki Laing said while the low dollar was having an emerging impact on the willingness of Australian expats to buy, there were many familial influences always motivating them to buy property in Australia including schooling issues.
"These are not influenced by the state of the dollar," she said.
Expat interest is beginning to emerge in select pockets highlighted in early spring when three of the five registered bidders for a Belle Manly auction offering were expats.
It sold for $4,550,000 under the hammer with the buyer from Singapore beating buyers from the UK and the USA for 8 Bower Street overlooking Cabbage Tree Bay.
But many agents aren't seeing any increase in expat numbers.
"I would like to say that the expats are back in strength given Australia’s currency is now at a six year low however that’s simply not the case," Mosman Richardson &amp; Wrench agent Robert Simeon said.
 "With the Australian dollar weaker, property is around 25% cheaper than the A$0.94c it was just 24 months ago for those who are paid in foreign currencies," Robert Simeon noted.
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Lower Aussie dollar tempting expats to buy back home

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The future is a different country and 2016 will certainly be a different place to the year just ending.
As Sydney’s boom ends, other locations around Australia are stepping up as locations poised for price growth. Success in property investing will depend, as always, on buying in the right places.
But there are a number of key steps investors need to take before considering where they might buy in 2016. Here’s my five-step process to stay safe and do well in the year ahead. 
1 Develop a plan
Most wannabe investors start the process with the search for properties to buy. They’re destined to fail from the very start.
No one should start looking online for properties before taking a series of steps leading to that point. There needs to be a plan, which should contain goals, strategies and tactics.
If you don’t know the end game – your ultimate goal – it’s difficult to develop a strategy for getting there.
Part of the planning process is understanding yourself. I receive emails every day from people who bought investment property in a resources-related location and now are freaking out because the market is down. These kinds of locations are always volatile and most investors don’t have the temperaments or financial means needed to ride the troughs while they wait for the peaks.
There are myriad ways to invest in real estate. Most people think passive investment – buy a property and find a tenant – but there are other options. The investment technique you choose will dictate what you buy and where you buy it.
2 Be willing to pay for quality research and good advice
All of the truly successful investors I know, people with 20, 30 or more properties, spend money to make money. They treat property investment as a business - they spend on advice from experts and on good research sources before making any buying decisions. 
The proposition of most wannabe investors is this: Yes, I’ll spend $500,000 buying an investment property, but No, I won’t spend $50 on a research report, and I won’t spend $500 on an independent valuation to make sure I’m paying the right price and I certainly won’t spend $5,000 accessing specialist advice on how to invest wisely and build a property portfolio. 
It’s the worst kind of false economy. 
3 Build a team 
Part of the process outlined in step 2 is building a team of experts. They include mortgage brokers, research specialists, property advisors who can help develop strategies, accountants who understand real estate investment (many don’t), specialist lawyers and depreciation experts. 
You need a team of consultants you can go to for quality advice. Refusing to spend money on these things is another example of false economy. 
4 Education and research
It’s alarming how little the average punter knows about real estate. They’re proposing to spend hundreds of thousands of dollars on something about which they know nothing, other than vague impressions absorbed from media.
Research is the foundation of all successful investment strategies. It takes time and if you don’t have the time, you need to be willing to spend money buying good research. If you’re unwilling to spend the time or the money, forget about property investment. 
I often tell audiences a key part of the research process is to stop reading newspapers. Newspapers are full of misinformation, much of it sensational negatives, about residential property.
Right now, mainstream media is running simplistic and misleading story lines such as: the boom is over, the bubble is about to burst, no one can afford to buy, etc. The reality is that, while Sydney’s boom is winding down, there are many locations around the nation which will have growth markets in 2016 and beyond.
People should read specialist sources of real estate information – like Property Observer – where they can access information and opinions from people with genuine credentials.
4 Look for locations with the right fundamentals. 
It’s no accident that some locations out-perform on capital growth. Areas become hotspots with superior growth for clearly defined reasons. 
Investors might consider why Sydney has had three years of rising prices, while most parts of Australia have been dormant or going backwards. Sydney boomed for specific reasons – and record low interest rates have had little to do with it.
Four years ago New South Wales had one of the weakest economies in Australia. Today it’s the clear No.1, by a considerable margin. Sydney’s boom fed off that.
What changed? In 2011 the worst state government in the history of Australia was tossed out in a landslide election defeat. The new regime started governing to reactivate the state economy. They started spending money on infrastructure around Sydney and today tens of billions of dollars are being poured in roads, rail links and hospitals. It’s had a massive impact.
Another factor is that Sydney had 10 years without any major price growth before 2013. From 2004 to 2012, prices had risen only about 15% - but rents had increased an average 70%. It had become cheaper to own real estate than to rent it. The city was primed for an explosion of buying and price growth.
Many things drive real estate markets but one of the most influential is infrastructure – both existing and new. Areas with good infrastructure – transport links, schools, medical services, jobs nodes – will always be solid performers. Areas with that, plus spending on major new infrastructure, will have additional impetus.
5 Beware the high-rise unit markets.
The greatest danger for investors in 2016 will come from buying real estate in markets that are oversupplied – or heading for surplus.
Primarily that means the high-rise apartment markets, where developers are building towers of units destined for sale to overseas investors. It will lead to rising vacancies and falling rents (leading to falling values) in specific locations.
The danger markets include central Melbourne, central Brisbane, central Perth and the beachside suburbs of the Gold Coast.
For success in 2016, stick to the genuine residential markets. Buy established dwellings in suburban markets – and always check local vacancy rates and also building approval data. A location may have a 2% vacancy rate, but if building approvals doubled in the last 12 months, there may be oversupply in its future.
In simple terms, the best buying in 2016 for future growth will be found in Brisbane, Adelaide, Hobart, parts of Melbourne and selected regional centres, including the Gold Coast, the Sunshine Coast, Cairns, Port Macquarie, Newcastle and environs, Albury-Wodonga, Geelong and Bendigo.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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As Sydney’s boom ends, other locations step up: Five tips from Terry Ryder

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Home values in Sydney have shown incredible growth over the past three-and-a-half years, notes estate agent John McGrath in his latest Switzer blog. 
Sydney’s median home values (all properties combined) have risen by 48% since the growth cycle began in May/June 2012, latest figures from CoreLogic RP Data reveal.
By comparison, Melbourne is up 31.5% over the same timeframe, with Brisbane next at 15%.
Among the other capitals: Darwin 12.6%; Adelaide 10.9%; Perth 10.7%; Canberra 9.6%; and Hobart 6.3%.
On a national scale, it’s been a two-tier market led by the East Coast since 2012, he says.
But now things are slowing down.
"Sydney has cooled but I’m not concerned. What is really important to realise is that Sydney will not stop growing in value, it’s just going to settle and return to a normal long-term pace of incremental growth," says McGrath.
"Yes, I think it’s fair to say the boom in Sydney is probably over. Auction clearance rates have dipped from the 80% band mid-year to the 50% band now and that’s quite a drop. Of course, supply has increased over Spring but that alone doesn’t explain a 30% decline in clearances. The market is simply cooling down now and that’s a really good thing." 
After such a long run of growth, some consolidation might be expected. New price benchmarks have been set for all types of properties right across the city and it might take a while for those prices to be cemented in, he says.  
According to him, three major factors have slowed Sydney down: 
1. A tightening of lending criteria for investors has had a significant impact, as investors have been a driving force in this boom
2. Many investors who still meet lending criteria are now looking outside Sydney. When you get rapid capital growth, rental yields inevitably decline and that’s the case in Sydney, with houses yielding 3.2% and apartments 4.1%.  Brisbane offers the highest yields of the major capitals at 4.3% for houses and 5.3% for apartments – and more importantly, Brisbane has greater scope for imminent capital growth 
3. Real estate markets are cyclical. At some point in a growth cycle, every market will reach a peak and plateau. 
When markets begin to cool, it’s inevitable that there will be small drops in prices month-to-month and that’s what happened in Sydney in November. 
The median house price fell -1.5% and apartments -0.7%.
But there’s no need to be too concerned as this was expected as this is normal at the end of a boom, he says.
The important thing is to distinguish between the end of a boom and the end of a growth cycle. It’s the end of the boom, not the growth cycle, he concludes. 
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