Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

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

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Sydney

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The weekend's cheapest sale in Sydney was a 23 square metre Surry Hills studio apartment. The dearest at Sans Souci at $6.5 million.
The median Sydney house price was at $1.26 million and the median apartment price sold at $755,000.
These were two results among the record 87.5% election day auction success rate as Sydney’s supercharged housing market was on the brink of breaking the all-time record listings.
It has been eight weeks now above 80%, probably the hottest auction market since Sydney held its first auctions in the colonial 1800s.
Around 1128 homes were scheduled to go under the hammer with the results in accounting for 872 offerings.
Final numbers are likely to break the previous record of 1111 recorded on the same pre-Easter Saturday last year.
Maroubra was the most popular Sydney suburb for auctions with 17, which included 45/77 Broome Street at $822,500. The price guide had been $725,000 plus.
Randwick had 15, Pymble and Mosman each with 14 and Redfern, Hornsby and Strathfield each with 13 auctions scheduled.
Cooley Auctions secured two Randwick sales - at $780,000 and $1.2 million - and two Redfern sales - at $915,000 and $1.2 million.
Cooley Auctions had 129 properties selling 107, in what auctioneer Damien Cooley described as the strongest market he have seen in his 15 years in real estate.
The auction of 9 Shadforth St, Mosman saw a $1.82 million with auctioneer Robert Klaric, from Auction Services, knocking it down for Chris Dale First National North Sydney who had the five registered bidders.
The upper north shore hosted the most auctions this weekend with 166 closely followed by the city and east with 163 and the inner west with 161. The south has 153 auctions listed with the lower north the next highest with 113, Canterbury Bankstown 85, the west 77, northern beaches 74, the south west 55, the north west 35 and the central coast with 27.
"Auction numbers have been rising this year as the market enters its third year of boom-time conditions," APM senior economist Dr Andrew Wilson said.
After the auctions he tweeted: "Incredible result from amazing market."
He has previously noted the February cut in official interest rates – the first move in rates since August 2013 – had improved confidence with rising buyer activity being reported in most capital city markets."
Last weekend Sydney hosted 715 home auctions which was higher than the 682 listed over the same weekend last year. Last weekend’s initial record result of 86.1%was adjusted down to 84.3%, according to the latest APM results.
The Surry Hills apartment pictured above sold pre-auction to an investor through Oz Combined Realty agent Peter Ozerskis, who suggested its rental return could be around $420 per week as a permanent rental or $650 plus as a casual executive rental. He said it was 23 square metres, plus a four square metre storage space.
The ground floor unit had strata levies of $773 per quarter; council rates of $242 per quarter and water rates of $180 per quarter.
The weekend's highest sale notification was $6.5 million through McGrath of 73 Vista Street, a 2,121 square metre waterfront estate at Sans Souci with views across Kogarah Bay and the Georges River.
The property (below) with 34 metre waterfrontage level lawns had been tightly-held by the same family since 1942. 
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jchancellor-FAypfDUnLy

Surry Hills $330,000 studio the cheapest as Sydney soars to 87.5% record auction success rate

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The heat of the apartment market in the Sydney suburb of St Leonards is apparent in new research from PRDnationwide when it comes to days on market.
Vendors only required 16 days on the market during the fourth quarter of 2014, down from 43 in the previous quarter and a high of 78 days in 2014's second quarter.
But the vendors appear to be over-reaching in price expectation, with the private treaty discount required to secure a sale going up in the December 2014 quarter. 
Rental yields appear to have peaked. 
<img src="/images/2015/03/26/st-leonards-mar-26-one.jpg" alt="">
<img src="/images/2015/03/26/st-leonards-mar-26-two.jpg" alt="">
<img src="/images/2015/03/26/st-leonards-mar-26-three.jpg" alt="">
Source: PRDNationwide
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po-LsXgBTHBmX

Sharp drop in days on market in St Leonards: PRDNationwide

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A Cherrybrook six-bedroom home with a tennis court has sold for a reported $1.72 million record.
The cul de sac 1990s property at 20 Rossian Place was inspected by 65 groups with 13 contracts issued through David Choy from McGrath Estate Agents.
It last sold at $990,000 in 2004, having failed to sell when listed for 20 December auction late last year. It sits on a 1,227 square metre holding.
The previous record was $1.68 million for 8 Norwich Place in October 2014. It was a 1995 built five bedroom house on 1,000 square metres that previously sold in 2005 at $945,000.
Set within the Cherrybrook Technology High zone, it was bought by a family seeking the school.
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Cherrybrook record as school zoning underpins price growth

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Even if they are struggling to buy a house, Generation Y may have more of an impact on the property market than they think.
While many presume a link between the proximity of train stations and property values, research firm Onthehouse believes that the positive impact of railway infrastructure on property prices is amplified by the presence of so-called 'millennials'.
According to Onthehouse's research, suburbs with a train station generally recorded capital growth rates above the Sydney region's 10 year average. However, suburbs where the median age of residents was below 37 years – the national average – showed a stronger relationship between train stations and price growth.
In Lidcombe, for example, properties within a kilometre of Lidcombe station are valued 2.1% higher than those more than a kilometre from the station, according to Onthehouse. Eliza Owen, Onthehouse market analyst, noted that the suburb has a median age of 33, and more than 22% of the workforce are professionals.
Click to open in a new window:
<a href="/images/2015/03/27/graph.JPG" target="_blank"><img src="/images/2015/03/27/graph.JPG" alt=""></a>
"Lidcombe is a great example of how millennials are driving up the change in property values in suburbs that have train stations," Owen said.
Onthehouse has picked seven suburbs to watch, based on upcoming rail construction. By 2019, planned railway developments will connect the north western suburbs to the Chatswood line.
<a href="/images/2015/03/27/table-mar-27-one.jpg" target="_blank"><img src="/images/2015/03/27/table-mar-27-one.jpg" alt=""></a>
Source: Onthehouse.com.au
According to Owen, the new stations set for the seven suburbs will allow younger residents to access the CBD, and will create thousands of jobs.
"In Kellyville, the building and maintenance of the station, increased dwelling construction and new commercial establishments are expected to create over 3,000 jobs in the area. Whereas in Kingsford, where one third of the residents fall between 20-29 years old, the light rail is expected to be popular with young people and students travelling to the city for entertainment and work outside of study hours," she said.
The house at <a href="https://www.realestate.com.au/property-house-nsw-kellyville-119208983" target="_blank">28 Ikara Avenue in Kellyville</a> sold for $920,000 earlier this month. The three bedroom house on a 696 square metre plot has polished floorboards throughout and ducted air conditioning. Less than two years ago, in September 2012, the house sold for $580,000, reflecting 58.6% price growth in two years.
In mid July last year, it was advertised to rent at $550 per week. Assuming the rent has remained the same, the house sold at a 3.1% yield.
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jrichardson-uRX5hFdKfN

Sydney's seven suburbs to watch guided by rail and millennials: Onthehouse

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Monarch Mosman, the first residential development in the Centuria property portfolio, has secured an 80% sales success rate in quick time.
The development offers a mix of 62 apartments and townhouses.
There's also four live/work Soho-style units designed by the architects, Bates Smart.
Peter Walsh of <a href="https://www.raywhiteprojects.com.au/nsw/mosman/1972484/" target="_blank">Ray White Projects</a> fielded some 800 enquires intanden with the local Ray White Lower North Shore network (Mosman, Neutral Bay and Crows Nest offices) as well as Ray White Hong Kong.
Property Observer gleans a very limited number of apartments were released in Hong Kong last weekend to sell out within hours.
New stock supply is very limited, but proving popular with both the established mature buyers and new investors.
The project is located at the corner at 116 Belmont Road and 339 Military Road, owned by Centuria Property Funds since paying $13.75 million in 2001.
The project was approved by the Joint Regional Planning Panel.
Jason Huljich of Centuria said Bates Smart were selected for their vision for the bespoke development close to Cremorne Junction.
Outside space including private gardens, loggias and balconies was sought with every apartment having designated spaces for motorbikes and pushbikes and basement storage.
Centuria Property Funds has over $820 million of property under management in 14 unlisted property funds. Centuria Property Funds is a wholly-owned subsidiary of Centuria Capital Limited, an ASX- listed specialist funds manager with $1.6 billion in funds under management.
Many had views across the north shore or over the harbour, and some over on Military Road look towards Chatswood.
Construction for the development will commence in June.
It is expected to take 15 months to complete.
One bedroom apartments are starting at $640,000 and two bedroom apartments from $800,000.
<a href="https://www.youtube.com/watch?v=r3HU44qvnzk" target="_blank">Roger Poole</a>, the Bates Smart chair, said there were generous floor plans and the prospect of being liberated from the car.
For many years the offices were home to Australia's largest retail advertising agency, Ideaworks.
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Centuria's Mosman project Monarch leads the Military Road residential renaissance 

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Respected economist Dr Andrew Wilson revels in his latest piece of hyperbole.
It is a ticking calculator that gives Sydney's <a href="https://doctorandrewwilson.blogspot.com.au/2015/02/sydney-0-i-str-dollars" target="_blank">estimated real-time capital city median house price</a>... and<a href="https://doctorandrewwilson.blogspot.com.au/2015/02/countdown-to-sydney-1000000-house-price" target="_blank"> when he thinks Sydney will hit the $1 million median house price</a>.
Last month, when it started off, he had Sydney at $892,149.
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Mid-week it was at $895,969 meaning:
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...days until $1 million.
Today March 20 it sits at $898,584, well $898,584.19 and:
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Do we really need it Dr Wilson?
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Only in Sydney - ticker showing countdown to $1 million median house price

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The Garibaldi Inn commercial retail premises at 37 Alexandra Street, Hunters Hill have been sold for $7.8 million.
The landmark property comprises the original sandstone building and two substantial separate retail and commercial buildings. 
The centre has 14 retail and commercial tenants with a total lettable area of approximately 770 square metres and underground parking for 14 cars.
<a href="/expert-insights/investing/sandstone-garibaldi-hunters-hill-commercial-offering">Its full occupied net income was given as $555,885</a>.
It sits within what became known in the 1850s as The French Village, at Hunters Hill, Sydney's smallest and oldest municipality.  
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Sandstone Garibaldi, Hunters Hill commercial offering secures $7.8 million

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In what is billed as a first, <a href="http://www.urbantaskforce.com.au/">Urban Taskforce Australia</a> has released the results of a poll it commissioned specifically targeting the views of apartment dwellers in the city it calls home, Sydney.

The timing of the poll could not be more pertinent with New South Wales heading to the polls at the end of March and perhaps more importantly with a "Battlelines" Prime Minister in the Lodge, the message from the poll is that people who choose urban living have a different worldview to some of the paint-the-electorate-with-the-same-brush policies of the major parties.

As mentioned above, Urban Taskforce Australia is located and most active in Sydney and Sydney-sider apartment dwellers were the sole target of the poll. It would not be outrageous to assume that had a poll been conducted with similar parameters on a Melburnian sample then there would be a similar outcome given our nation-leading position in the urban development stakes.

On some of the highlights: urban dwellers are generally happy to see more urban growth whereas suburban dwellers are not; across the political spectrum, urban dwellers responded with little enthusiasm when asked the question "I actively fight growth and development plans".

Perhaps the fascinating snippet of the poll is the voting intentions. Again, we must look at this from an outsiders point of view in light of the sample's location and the upcoming state election however this poll smashes the stereotype that urban dwellers generally lean left.

Urban dwellers value lower-car ownership and use, more attractive streetscapes &amp; walkability and 51% of NSW Liberal voters living in an urban dwelling think it's important to live close to Public Transport.

On the importance of car parking in apartment developments there's a clear gap between those who provide the capital - investors - and those who are the clientele - the renters. 81% of Sydney apartment investors think private car parking is important yet only 56% of renters agree - the question must be asked: is there scope to place even less emphasis on car parking in new developments?

The ResearchNow poll splits urban dwellers into four groups: renters, owners, investors and intenders. The first three are self-explanatory, and the 'intenders' are those that aim to live in an apartment.

<table border="1" cellpadding="1" cellspacing="1" style="width: 100%;">
<thead><tr>
<th class="rtecenter">Political Party</th>
			<th class="rtecenter">Renters</th>
			<th class="rtecenter">Owners</th>
			<th class="rtecenter">Investors</th>
			<th class="rtecenter">Intenders</th>
		</tr></thead>
<tbody>
<tr>
<td>Liberal</td>
			<td class="rtecenter">19%</td>
			<td class="rtecenter">33%</td>
			<td class="rtecenter">40%</td>
			<td class="rtecenter">29%</td>
		</tr>
<tr>
<td>Labor</td>
			<td class="rtecenter">25%</td>
			<td class="rtecenter">27%</td>
			<td class="rtecenter">22%</td>
			<td class="rtecenter">27%</td>
		</tr>
<tr>
<td>Greens</td>
			<td class="rtecenter">13%</td>
			<td class="rtecenter">9%</td>
			<td class="rtecenter">11%</td>
			<td class="rtecenter">8%</td>
		</tr>
<tr>
<td>Others</td>
			<td class="rtecenter">8%</td>
			<td class="rtecenter">7%</td>
			<td class="rtecenter">4%</td>
			<td class="rtecenter">8%</td>
		</tr>
<tr>
<td>'Rather not say'</td>
			<td class="rtecenter">35%</td>
			<td class="rtecenter">25%</td>
			<td class="rtecenter">23%</td>
			<td class="rtecenter">23%</td>
		</tr>
</tbody>
</table>
What does this all mean? Well for a start, I look at the data in the table above and see a broad spread of party voting intentions. Assuming a similar result were to be returned on a Melbourne sample, in all the areas outside of the City of Melbourne which are seeing small-scale yet rapid change through apartment development, the North/South of the Yarra blue and red political divide might become more purple in the long run.

The full media release and accompanying poll findings are embedded below (political advisors, influencers and policy-makers would be wise to pay attention to page 2) and be sure to check out <a href="http://www.urbantaskforce.com.au/images/stories/Extras_for_Newsletters/Report_by_Seonaid_Chappell-_ResearchNow.pdf">further poll data</a> from Urban Taskforce Australia's website.

<iframe class="scribd_iframe_embed" data-aspect-ratio="undefined" data-auto-height="false" frameborder="0" height="600" id="doc_18217" scrolling="no" src="https://www.scribd.com/embeds/259106194/content?start_page=1&amp;view_mode=scroll&amp;show_recommendations=true" width="100%"></iframe>

Lead image credit: <a href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/aidan_jones/1859073197">flickr</a>.
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Alastair Taylor

Landmark poll of apartment dwellers' views revealed

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Sydney's Institute Arcade at 332 Darling Street, Balmain has been listed for sale.
The tenanted building has nine shops, five suites and a penthouse. This year, it will gross $527,838, plus GST. Current tenants include Alegrias, a Spanish tapas restaurant, and a hairdresser.
Its penthouse has three bedrooms, with city and harbour views.
<a href="https://www.realcommercial.com.au/property-retail-nsw-balmain-501484715" target="_blank">The Institute Arcade</a> was designed by architect Edward J Bowen to house the Working's Men Institute, which was established in 1965. Construction began on the building in 1887, and it was completed in 1896, reportedly for £6,000.
At the time, the building held a 400-seat lecture hall, a billiard hall, a library, a chess room and a reading room. According to Leichhardt Council, by 1912 the Institute, which aimed to 'improve the education of working men and instruct them in the trades', had 700 members.
Since then, the building has housed the Balmain dole office (during the depression), entertainment venues, and now a mix of offices, retailers and restaurants. Its interiors, renovated since its construction, are reminiscent of the building's history, with moulded arches and a tessellated tile floor in the building's foyer.
The building is currently zoned B2, for mixed residential and commercial use. It has 929 square metres of floor space, on a 645 square metre plot.
The Institute Arcade, being marketed through Steven Zoellner of Laing + Simmons Double Bay and Sonia Leal of Niche Portfolio, will be auctioned on 7 April.
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Balmain's Institute Arcade going under the hammer

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Sydney’s residential market reflects a trifecta of settings, the seeds of which were sown back in 2002-03 when residential building approvals first started to fall.
Today we have a combination of dynamics characterised by a gap in supply, population growth and cheap money, not only here but also across the world.
There are few ways or policy settings for any of these key market drivers to change, and as a result prices will continue to respond by increasing, and while there are some wider concerns about the local economy that I will visit here, let’s for the time being stay on topic and look at the make up, some history and future trends associated with our trifecta.
Sydney Median House Prices
Sydney’s median house price is clearly heading towards an eye watering $1,000,000, and the rate of increase, although associated prices, have out-paced population growth. In 2011 the median prices was $634,700, and metro Sydney’s population stood around 4,391,674. By the end of 2014 the median price had increased to $873,786 (by some estimates it’s now $1,000,000) and the population 4,657,000.
What we can see is that while the population grew by some 6% over the period, prices increased by 37%.
Population Growth
Population growth continues and between 2006-11 according to the ABS the south-west fringe grew by an estimated 2.9%, and the Inner West by 2.7% – 3.2%.
By 2036 Sydney’s population is predicted to reach 6,140,000 adding some 1,500,000 or 32% over the next 25 years. This growth will see continued demand in the big growth regions in the south and north-west of the metro area but will also see a continued big increase in housing density.
The trend shows that in 2001 15.7% of housing was high-density, but by 2011 that figure had moved close to 21%, led by the City of Sydney at 70.2%.
For the City Of Sydney, as might be expected, that trend is only going to continue. Currently in 2015 its population is around 200,772, and by 2036 the population is expected to increase to 280,964 or an increase of 39.94%.
Sometimes I hear people express surprise that the city’s population is relatively small for a major city, however growth is assured and this is already leading to a demand for a diverse range of city apartments, with clear sub-markets emerging.
It can be expected that the continued emergence of these sub-markets will further drive higher prices as buyers demonstrate a willingness to pay higher prices for premium locations, such as the city’s north.
Supply of New Dwellings
However of the three factors in this discussion, it is the supply of new dwellings that goes a long way to explaining the current pressure on prices, so let’s look at some of the figures to see why.
In 1996-2001 there were 110,000 new dwellings built in Sydney, in 2001-2006 numbers fell to 93,000 and in 2006-2011 numbers continued to fall to just 72,000, and by way of comparison that figure was half of what was built in Melbourne. I think when you look at current prices the beginnings of our under-supply had already been cemented.
A gap in the supply of new dwellings has opened up in the Sydney market since 2001-2002, which was the last time that population growth and the supply of new dwellings was more or less even.
There was a huge gap in 2007-2008 and again in 2008-2009, in both periods population was well in excess of 82,000 and the supply of new dwellings was only at 18-19,000 and ever since supply has not kept pace with population growth.
In 2011-2012 the population grew by 62,500 while only 22,300 new dwellings were approved. And NSW is seeing its population grow again after some slower growth over the last five years, possibly associated with the mining boom in other states.
And while the supply of new dwellings is gaining pace a big gap still remains and to a large degree planning issues for new developments are also hindering a quicker recovery in supply.
Interest Rates
The third factor is cheap money, both here and offshore, only this weekend China’s central bank cut interest rates. The second cut in less than four months. And while domestically this is seen as an aggressive move aimed locally at lifting flagging economic growth, cheaper money in China may well drive more buyers into our local real estate market.
However when the lack of supply and continued strong demand across Sydney is combined with the steep decline in interest rates, the figures are revealing. In 2011, the standard variable home loan rates were near 7.79%. Today in 2015 it is sitting around 4.54% and may even go lower.
I think that the headline figures across the supply gap, the continued growth of our population and the big impact of cheap money all speak volumes about why prices continue to rise.
This then raises questions about the general level of affordability, the potential impact on the market when rates do start to rise again, the sustainability of employment numbers and the further need for tax and economic reform. Each has the potential to impact the market and if all combined the current market dynamics would clearly shift and so these areas will be my next rich source of discussion.
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