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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney

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The Wentworth Courier quickly cottoned onto the mooted purchase in Woollahra by a then mystery Channel 7 Sunrise identity after Di Jones Woollahra sold a three-bedroom terrace for around $3.7 million at recent auction.
The View Street property had sold through Jane Schumann and Gary Sands who tipped offers around $3.5 million.
The 32-year-old, Sunrise EP Michael Pell has now emerged as having bought from designer Tim Dyroff, who'd spent perhaps close to $200,000 on renovations after buying it for $2,825,000 in May last year.
It had also sold for $3.03 million in 2005, having been built with 216 square metre living space in 2000.
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<div><img src="https://resources3.news.com.au/images/2015/07/26/1227457/591211-48a7ea72-333e-11e5-8361-c04dc8d2464e.jpg" alt="Sunrise EP Michael Pell's new abode in Woollahra." width="650" height="488"></div>
 Title Tattle suggests Michael Pell could perhaps assist Di Jones with doing something about their <a href="https://www.youtube.com/watch?v=1HluZgHpaI4" target="_blank">underwhelming video promotion</a> for their property listings.
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jchancellor-FAypfDUnLy

Sunrise's Michael Pell buys $3.7 million Woollahra home 

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Sydney recorded a 79.7% weekend auction clearance rate - a year low.
The weekend result came after the unsettling suggestion Sydney's median house price had hit $1 million.
Domain Group's Australian Property Monitors had tabulated 590 of the 715 expected results, with late results expected to see the final figure even lower.
Last weekend's revised result was 78.3%.
Barring holiday weekends, the clearance rate for Sydney has sat above 80% since the February 7 weekend, when the auction season got underway.
Below 80% results were recorded on the January 31, 2015 and December 20, 2014 weekends. 
The same weekend last year had a 73% success rate across Sydney.
<img src="https://i1.au.reastatic.net/800x600/45ab77ea64bb5f3c0f5269a636e25449208799b85250d66ea295ceac3bef4b9d/image2.jpg" alt="1 &amp; 2/10 Bruce Avenue, Manly" title="1 &amp; 2/10 Bruce Avenue, Manly" data-index="1">
A clearance rate of 79 per cent was recorded this weekend in Melbourne compared to 75 per cent last weekend and 70 per cent this weekend last year, <a href="https://www.reiv.com.au/Property-Research" target="_blank">with 671 auctions reported to the REIV today</a>.
The highest sale of the day was in Sydney where a three level Manly harbourfront duplex (above) sold at $4.55 million to expats through Cherie Humel-Clarke of Clarke &amp; Humel who had just the three registered bidders for 10 Bruce Avenue.
Sydney's cheapest was $338,000 at Regents Park - which had sold pre-renovation at $217,000 in 2012.
Melbourne's dearest reported result was <a href="https://8ferdinandav.com/" target="_blank">8 Ferdinand Avenue, Balwyn North</a> which sold for $3,600,000, a near new home in the prized Balwyn High School zone.
APM's weekend cheapest 
<table style="width: 470px; height: 146px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr id="ecxrpMostAffordable_trMostAffordableRow_0">
<td id="ecxrpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_0" colspan="2">11/8 Edwin St, Regents Park NSW 2143, 1 br Unit, Town &amp; Country</td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_0">$338,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_1">
<td id="ecxrpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_1" colspan="2">2/17 Abercarn Av, Craigieburn VIC 3064, 3 br Unit, Ray White</td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_1">$280,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_2">
<td id="ecxrpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_2" colspan="2">23 Lorna Rd, Para Hills SA 5096, 3 br House, Professionals </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_2">$310,000</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_3">
<td id="ecxrpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_3" colspan="2">19 James St, Lowood QLD 4311, 4 br House, LJH </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_3">$172,500</td>
</tr>
<tr id="ecxrpMostAffordable_trMostAffordableRow_4">
<td id="ecxrpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="ecxrpMostAffordable_tdMostAffordableLocation_4" colspan="2">5/30 Watson St, Turner ACT 2612, 2 br Unit, McGrath </td>
<td id="ecxrpMostAffordable_tdMostAffordableSold_4">$525,000</td>
</tr>
</tbody></table>
Interestingly Saturday's $1.15 million Sydney auction median was the lowest since June 6, which could most probably reflect that listings across the more traditional pricier suburbs are on hold until the spring sales season.
"The market is creaking under record winter listings," said Domain's senior economist, Dr Andrew Wilson, a more sober assessment than the mid-week exuberance when Fairfax Media gushingly reported the median house price "smash through the magic $1 million mark for the first time."
<a href="/news/sydneys-1-million-house-median-arrives-326-days-early">It was $1,000,616</a>.
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Sydney's weekend clearance rate dips below 80% - year low result 

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Does the Sydney property bubble exist?
This could really be a yes or no answer. A bubble depends on so many factors, and we don’t really know what defines a bubble. However, what we DO know can be seen in the current housing market.
Why I think ‘yes – we are in a bubble situation’: 
1. Bubbles are characterised by low interest rates
Interest rates in Australia are currently low, and the official cash rate is at a historically low 2%. The Australian Prudential Regulation Authority (APRA) has had a slow, weak response to banks’ lending to investors. Rather than the loan-to-value ratio cap employed in New Zealand, the APRA has been encouraging ‘stress tests’. Under this policy, banks have the responsibility of making sure borrowers can cope with mortgage repayments for interest rates of up to 7%.
2. Bubbles are characterised by 'speculative investment'.
Speculative investment is when you invest in something because you think it is going to deliver a high return quickly. The NAB Quarterly Australian Residential Property Survey for the first quarter of 2015 revealed that investors are making up a larger portion of those taking out home loans to purchase houses. Investors are further incentivised to purchase properties through negative gearing and capital gains concessions.  In documents released by the RBA under the freedom of information act, the amount of investors receiving home loans was growing by an annual rate of over 10% in 2014. The ideal growth rate in investor home loans was specified at around 6%.
3. Bubbles are characterised by rapid growth.
The median house in Sydney has increased in value by approximately $160,000 in the year to May 2015.
At the same time, I could also answer ‘no – we are not in a bubble situation’, because: 
1. I'm afraid of commitment
2. Evidence from the past.
The Sydney market has never really ‘popped’. We can see this by looking at the ‘House Price Index’ (HPI) for the median house in Sydney:
<ul>
<li>The HPI is a number that represents how much house prices have increased at any point in time since our first point of data collection in January 1979.At April 2015, the HPI for the median house in Sydney was 20.70. This means that the median house value in Sydney has increased by 20.70 times the house value in 1979.</li>
</ul>
<ul>
<li>The circles in Graph 2 highlights the big housing booms throughout the last 30 years (1987-88, 2003-04 and 2013-14). The slope of the HPI represents the rate of growth in this indicator. This data shows that Sydney houses are currently in their largest, longest housing boom. But you can also see that the HPI rarely goes down, and when it does go down it doesn’t stay down for very long.</li>
<li>For example, in 2003, Sydney houses experienced a peak growth rate of 24%.</li>
<li>The correction that followed between 2004 and 2007 saw a contraction of just 3%. A mere 3% contraction of what houses were worth at the end of a housing boom does not seem like a drastic correction, although this contraction continued for several quarters. Such growth patterns prompt me to view the Sydney market as an anomaly that could well stabilise at high prices. </li>
</ul>
<a href="/images/2015/07/24/G2_HPI.jpg" target="_blank">Click to enlarge</a> - Sydney HPI
<img src="/images/2015/07/24/G2_HPI.jpg" alt="">
The bubble could pop if the institutional conditions that affect demand are changed. These could include a crack-down on foreign investment, reform to negative gearing and capital gains, an increase in interest rates and/or a serious reform to lending rules for banks.
It could also pop if people decide the money they are paying is not worth the quality of life they are getting. Sydney is becoming very dense, some of our transport options are at capacity, and what expansion is happening out west is further and further from employment opportunities and entertainment.
Eliza Owen is the market analyst for Onthehouse.com.au. She can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/eliza-owen/65/4ab/255" target="_blank">here.</a> 
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Does the Sydney housing bubble exist? Onthehouse's Eliza Owen

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CoreLogic RP Data’s head of research Tim Lawless puts Sydney’s current house median at around $900,000 - and approaching its peak for this property cycle.
He doesn't see it getting to $1 million, instead likely to plateau between now and 2016.
“I think growth will moderate based on conditions such as investors now finding it harder to get loans and the general feeling the market has hit its peak,” he told News Ltd this week.
“The big risk is that people continue to buy into this market expecting price growth to continue at the current rate. I just don’t think that will happen.”
He has calculated 3.4% for the June quarter and 17.9% for the year, noting the CoreLogic RP Data method of calculating the value of all houses in the greater Sydney area was more comprehensive than simply focusing on a small sample of properties that had sold over a certain period.
“We have a mathematical algorithm that estimates values based on the number of bedrooms, bathrooms, parking spaces, land size, geographical location, whether the house has a pool and so on,” Mr Lawless said.
“We break all these factors down and give them each a value. This stops the median from moving around a lot based on what stock is being sold.”
CoreLogic RP Data figures show there are 433 Sydney suburbs where house medians are less than $1 million after sales over the past 12 months, compared to 272 with $1 million plus medians.
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$1 million house median not in sight for Sydney: CoreLogic RP Data

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Media entreprenuer Deborah Hutton has listed her Tamarama home which when bought new in 2007 was marketed as cutting edge design and dazzling views.
<img class="js-first-image" src="https://b.domainstatic.com.au/w800-h600-2005893678_1_pi_150216_094338" alt="5 wonderland ave tamarama NSW 2026">
Some $4 million is tipped for the cul-de-sac contemporary beach-house at its August 29 auction through Phillips Pantzer Donnelly agent Debbie Donnelly.
It has double bedrooms, all with robes.
"An artistic approach to luxury living reveals a harmonious connection with the outdoors and its just steps down to Tamarama Beach, marine parkland and the famed coast walk," says the marketing.
<img src="https://b.domainstatic.com.au/w800-h600-2009943933_1_pi_150426_074548" width="603" height="452">
The master suite occupies the entire top floor of <a href="https://ppdre.com.au/buying/listings.php?sid=480239&amp;suid=69c6d071e30da715f0e577a07a4774b9" target="_blank">the Wonderland Avenue location</a>.
Even though it came with a media room, Deborah Hutton wants better video production space in her next home for her Balance enterprise.
No sign where it will be, but she has long tweeted her love of the suburb, most recently while on Tama's sunny shoreline (below).
<img src="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%2011.41.26%20AM.png" alt="">
 
<img src="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%2011.22.40%20AM.png" alt="">
This one <a href="https://www.propertyobserver.com.au/https://m.domain.com.au/listing/2006407587" target="_blank">cost $3,375,000 in 2007</a>.
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Deborah Hutton lists Tamarama home

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<div>Low interest rates have helped to spark one of the biggest housing booms Sydney has seen. Sydney's median house price was up 22.9% or approximately $200,000 in the year to June 2015, following a massive 8.4% rise in the second quarter of the year.</div>
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Domain Group's data:</div>
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<div><a href="/images/2015/07/23/Sydney.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/07/23/Sydney.jpg" alt=""></div>
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<div>
<div id="post-body-569318625860302453" class="post-body entry-content">Media reports a few viewpoints: Dr Andrew Wilson: <div>"The double-whammy of the lowest interest rates since the 1960s and an investor frenzy has seen Sydney's median house price smash through the magic $1 million mark for the first time.</div>
<div> </div>
<div>Domain's senior economist, Dr Andrew Wilson, says house prices leapt an extraordinary 8.4% over the June quarter to $1,000,616.</div>
<div> </div>
<div>"It's the highest rate of growth since the late 1980s," Dr Wilson said.</div>
<div> </div>
<div>"And it's because of low interest rates and they're going lower, lower and lower."</div>
<div> </div>
<div>The median house price has increased by almost $200,000 in a year or 22.9%, which is one of the highest annual growth rates ever recorded by the city.  Dr Wilson said it exceeded the boom time results of 2001 and 2002.</div>
<div> </div>
<div>He attributed the huge growth to the high level of investor activity, with the $6.4 billion in loans approved over May – a record.  "Sixty-two per cent of the housing market loan share is now investors – another record – and an increase of 27 per cent over the first five months of this year compared with the first five months of last year."</div>
<div> </div>
<div>Will Hampson:</div>
<div> </div>
<div>"Auctioneer Will Hampson has presided at auctions going $200,000, $300,000 and even $500,000 over reserve this year with suburb records often being smashed."</div>
<div> </div>
<div>But even he described the $1 million median house price and the rate of growth as "incredible".</div>
<div> </div>
<div>"Each year for the past three years the auction market has been so strong," Mr Hampson said.</div>
<div> </div>
<div>He says auction listings are up 50 per cent up on last year for August and he's also tipping a strong spring.</div>
<div> </div>
<div>"Conditions are perfect because interest rates are at record lows and there's a shortage of supply in many pockets," Mr Hampson said.</div>
<div> </div>
<div>"A lot of buyers want to buy in a particular suburb – so perhaps Balmain, Mosman or Double Bay ... if they want to buy in those suburbs they are going to have to pay the price."</div>
<div> </div>
<div>The rate of growth is sure to spark fresh suggestions that the market is overheating but Mr Hampson hosed down such talk. "The market is not going to collapse ... even if it does adjust slightly, there's a massive amount of both local and foreign investment."</div>
<div> </div>
<div>...&amp; McGrath:</div>
<div> </div>
<div>"McGrath chief executive John McGrath said Sydney had proven itself to be one of the most resilient property markets in the world, with long-term fundamentals underpinning the market.</div>
<div> </div>
<div>"The boom will end at some point, but that doesn't mean price growth will end, but rather continue in a more moderate fashion," Mr McGrath said."</div>
<div> </div>
</div>
<div class="post-footer">
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
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Sydney boom accelerates: Pete Wargent

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Sydney’s three years of price growth has dragged the city up the capital city rankings for long-term capital growth, but only as high as fourth. 
Six months ago, it ranked sixth among the eight capital cities and still lags behind Perth, Melbourne and Darwin. This is for average annual growth in house prices over the past 10 years, which we survey regularly for the Capital Growth Superstars report.
Fourteen of Sydney’s Top 20 suburbs have long-term growth rates below 8% per year - not nearly good enough to make the Top 20 lists for Melbourne, Perth or Darwin.
No suburb in the vast Sydney metropolitan area has a double-digit growth rate. The best is Pemulwuy (median price $720,000) in the city’s western suburbs, with a long-term growth rate of 9.5% per year. Most of the suburbs in the Top 20 have growth rates in the 7.0% to 8.0% range.
At first glance, it appears that the Top End suburbs dominate Sydney’s Top 20 list, as 19 of the Top 20 (all except Pemulwuy) have median prices above $1 million. But, in fact, these are mostly suburbs a tier below the top end. 
In Sydney, the 15 most expensive suburbs all have median house prices above $2 million. None of the 20 most expensive suburbs (all with median prices above $1.9 million) make the Sydney’s Top 20 list for long-term capital growth. Most of them have growth rates below 5% per year.
Sydney’s Top 20 is dominated by 15 suburbs in the $1 million to $1.5 million range, which is Sydney’s second tier market.
This is a change from other surveys in the past three years, which have strongly featured the cheaper end of the Sydney metropolitan market. The growth of the past 2-3 years has elevated some of the more expensive areas.
The outstanding precinct is the Ryde LGA on the lower North Shore, which has four suburbs in the city Top 20. Ryde is the only municipality with more than two suburbs in the Top 20. Its four top suburbs are Eastwood, Ryde, Denistone East and West Ryde, all with median prices in the $1.1 million to $1.3 million range.
The prestige end of the market, suburbs with median house prices above $2 million, continues to deliver poor capital growth rates. Indeed, three of the most expensive suburbs of Sydney are included in the Bottom 20 list of suburbs with the worst growth rates in the city.
Vaucluse (median $3.4 million), Palm Beach (median $2.6 million) and Clontarf (median $2.5 million) all have growth rates of 2.1% per year or less. Clontarf’s 1.3% grow rate means it would take 55 years for property to double in value (compared to eight years for Pemulwuy, which has Sydney’s best growth rate).
There are four other million-dollar suburbs on the Bottom 20 list.
The worst precinct in Sydney for capital growth is the Sutherland LGA in the south of the metropolitan area – it has four suburbs (Burraneer, Bundeena, Lilli Pilli and Illawong) on the Bottom 20 list, all with growth rates below 2% per year.
Sydney’s Top 10 for long-term capital growth is:-
1 Pemulwuy 9.5%
2 Waitara 9.2%
3 Homebush 8.7%
4 Burwood 8.6%
5 Bondi 8.0%
6 Darlington 8.0%
7 Hurstville 7.8%
8 North Willoughby 7.8%
9 Haberfield 7.6%
10 Hurlstone Park 7.6%
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> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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Sydney's top 20 suburbs for growth rates: Terry Ryder

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Putney Hill reached a big milestone earlier this month when the first stage of the Victoria Road precinct of the Frasers Property development was sold out.
Frasers Property secured some $349 million in sales, as stage 1 comprised 85 luxury freestanding houses and terraces and 448 apartments.
<img src="/images/2015/07/20/700_putney_exterior.jpg" alt="" width="580" height="352">
All were designed on the 14 hectare site by Cox Richardson Architects – "which have proven extremely popular with homebuyers," Frasers Property sales and marketing director, Paul Lowe said.
<img src="/images/2015/07/20/700_putney_bedroom.jpg" alt="" width="547" height="332">
Located 13 kilometres from the Sydney CBD, the sales results had taken place since its launch in 2011.
Each of the five apartment buildings and 85 houses within Stage 1 has sold out prior to construction completion.  
"The community’s luxury homes and apartments have been positioned within a natural bush land setting around Lardelli Park and its pond, with lifestyle benefits including the nearby recreation circle facilities,” said Mr Lowe.
“Over 50 per cent of Putney Hill is dedicated to green space – the built form integrates with the natural landscape to create a sense of harmony.
"We’ve found this unique point of difference is a very appealing prospect for homebuyers that have been looking to find something of an urban oasis, a retreat from the hustle and bustle but still within easy reach of the CBD,” Mr Lowe added.
“The sales success of Stage 1 is continuing now with the Stage 2, Morrison Road Precinct. We’ve had 15 homes sell out in EOI phase in August 2014 and our current apartment release, Canopy, is almost sold out with only 15 apartments remaining.
"As a result, we are fast tracking the next release to market – set to be another exceptional apartment development, situated at the highest point of Putney Hill commanding district, water and city views.”
<img src="/images/2015/07/20/700_putney_interior.jpg" alt="" width="550" height="334">
For more information on Putney Hill, visit <a href="https://www.putneyhill.com.au/" target="_blank">www.putneyhill.com.au</a>.
Buyers had been from first homebuyers, downsizers, young professionals families, to investors, said Mr Lowe.
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Frasers Property Putney Hill powers into stage two

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Units within the western sydney suburb of Constitution Hill were on market an average of nine days over the past 12 months at a median price of $503,500 for the year ending April 2015.
This marks a 19.9% year-on-year change for the <a href="/news">Constitution Hill area</a>.
Recent suburb sales include this villa, for comparison, <a href="https://www.realestateview.com.au/Real-Estate/1-67-constitution-road-constitution-hill/Property-Details-buy-residential-7794392" target="_blank">under offer above $585,000</a>.
According to the CoreLogic RP Data Top 5 Capital city suburbs with the shortest days on market, the Sydney suburbs of Jannali and Heathcote, both in the Sutherland Shire came third and fourth respectively on the list under Rosemeadow.
Croydon South in Melbourne topped the Melbourne list with 21 units sold over 30 days on the market for a median of $457,000 and Herston the Brisbane list with 20 units sold over 24 days at a median of $516,000.
CoreLogic RP Data senior research analyst Cameron Kusher said with home values continuing to rise and interest rates remaining low it is reasonable to expect that homes will continue to sell relatively quickly over the coming months. 
"The amount of stock for sale in most cities is lower than at the same time last year which also tends to create a level of urgency in the market for buyers," Mr Kusher said.
 
<a href="/images/2015/07/20/core_logic_units.jpg">Click to enlarge</a>
<img src="/images/2015/07/20/core_logic_units.jpg" alt=""> 
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Constitution Hill units sell fastest in nation: CoreLogic RP Data

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Team NSW won House Rules 2015. Some 1.99 million nationally watched the Channel 7 series grand final, with 1.29 million across the five metro cities, Oztam ratings noted.
Viewers would have expected the Sydney contestants to have the highest mortgage but Steve Falzon - of the <a href="https://au.tv.yahoo.com/house-rules/teams/steve-and-tiana/#page1">father and Tiana, daughter team </a>- bought his Shalvey house, near Mt Druitt for $130,000 around 23 years ago. 
He has a $250,000 mortgage that will now be wiped as they won the Johanna Griggs' hosted series. Shalvey prices have meanwhile soared during the filming from $366,000 earlier this year to $391,500.
<img src="/images/2015/05/20/700_steve_tiana.jpg" alt="">
The Brisbane couple grand finalists Ben and Danielle's mortgage was $405,000. They are the newlywed who bought the Brisbane home four years ago.
House Rules premiered in May 2013 with the state-versus-state renovation series.
Steve's wife Danielle died 19 years ago, leaving him, then 28, to raise Tiana and son Andrew.
Being a single dad, there was no extra money to do work on the house. 
He lives in the house with his new partner, Deanne and their son, Rory, 6.
Steve, a metal fabricator, admitted to feeling embarrassed by the unrenovated state of his home.
"I would like to feel proud of this house again. It's been a long-time dream to have this house renovated. And to have my mortgage paid off would be mind-blowing."
Tiana, a childcare director, now lives 20 minutes away with husband Dean.
Shalvey is located 48 kilometres west of the Sydney central business district, <a href="/news">with around a $391,500 median house price</a>, according to CoreLogic RP Data.
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