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


Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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


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

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

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

<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


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

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<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Apartment Sales

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<p>Eighty Eight, a $1.6 billion mixed-use development in St Leonards, had over 200 people attend its sales launch last week.</p>
<p>70 percent of the 180 Stage 1 apartment sold on the day.</p>
<p>The <a href="https://www.realestate.com.au/project/eighty-eight-by-jqz-st-leonards-600020070" target="_blank">three tower development</a> by Sydney-based Chinese developer JQZ is being marketed by Sunny Properties Group.</p>
<p>JQZ paid $295 million for the site last year, beating out the likes of Mirvac and Meriton who showed interest.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/21/88%20two.jpg" alt=""></p>
<p>Opposite St Leonards train station, the Christie Street development will comprise two residential towers of 47 and 26 storeys, holding 654 apartments in total.</p>
<p>It will include one, two and three bedroom apartments, as well as five five bedroom penthouses featuring their own private lifts. </p>
<p>There will also be a 15-storey commercial and retail building fronting the Pacific Highway.</p>
<p>The project will commence construction in August, with completion expected by 2022.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/21/88%20one.jpg" alt=""></p>
<p>According to Sunny Wu, managing director of Sunny Properties Group, the level of interest in Eighty Eight is proof positive that apartment buyers are still active in the Sydney market.</p>
<p>“While in some respects the Sydney apartment market has flattened out a little, we’re finding that quality projects with first-rate amenities are still attracting plenty of attention – and Eighty Eight By JQZ is a perfect example,” said Wu.</p>
<p>“All apartments will enjoy amazing views, while residents will also have access to a rooftop pool, a lively ground floor laneway retail and dining precinct, a major supermarket, and the future St Leonards Public Library.”</p>
<p>Designed by leading Australian architects PTW, Eighty Eight By JQZ will feature a 30,000 sqm combined commercial and retail space, and will adjoin the future St Leonards open-air civic plaza, which will branch out over the neighbouring railway line.</p>
<p>Mrs Wu said the timing of the sales launch was also important in terms of garnering significant buyer interest.</p>
<p>“We’ve deliberately timed the launch of Stage 1 sales at Eighty Eight By JQZ to coincide with Chinese New Year celebrations, capturing international buyers who are enjoying Sydney’s warmer weather during the Chinese winter.</p>
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jrobinson-rf4aSBido9

Apartment purchasers still very active at new 88, St Leonards development

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/NSW.jpg" alt=""></p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Vic.jpg" alt=""></p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/QLD.jpg" alt=""></p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/SA.jpg" alt=""></p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/WA.jpg" alt=""></p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/NT.jpg" alt=""></p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/26/Canberra.jpg" alt=""></p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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ckusher-ujnxiKuFQs

Dwelling construction surges yet housing turnover falls

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<p>Developer Dyldam launched its South Quarter project – the former Auto Alley – on the weekend.</p>
<p>Some 100 of the 200 apartments sold.</p>
</div>
<div class="cq-article-content-media section">The developer said it was pleased with the results, especially with the high 30 per cent rate of first home buyers and local interest.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The average sale price was $750,000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The plans for the South Quarter of the Auto Alley, Church Street, were unveiled as a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</div>
<div class="cq-article-content-media section">
<p>It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.</p>
<p>Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.</p>
<p>The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.</p>
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<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
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<div class="related-quotes section">The plans for the South Quarter of the Auto Alley, Church Street, Parramatta by developer Dyldam have been unveiled.</div>
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<p>It is a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</p>
<p>It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.</p>
<p>Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.</p>
<p>The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.</p>
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<div class="related-quotes section">Construction completion for the first residents in South Quarter is 2022, he said.</div>
<div class="cq-article-content-paras section">
<p>Dyldam beat contenders including AV Jennings for the coveted site in 2015 with the City West Joint Regional Planning Panel approving the site masterplan in 2016 with its Allen Jack+Cottier design.</p>
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j.ballantyne1990-6AQqhLzZaK

Dyldam sees the boost in FHB numbers in weekend Parramatta launch

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<p>Apartment developer Gurner has repaid its $180 million loan to ANZ following the settlement of apartments worth nearly $200 million at its FV project in Brisbane.</p>
<p>Gurner said in a media release that it had settled 80 percent of the first 520 apartments of stage one of its 981-apartment, three tower ‘FV’ project. </p>
<p>The settlements come at a time when repeated warnings have been sounded from various quarters, including the RBA, about an apartment oversupply in Brisbane.</p>
<p>The precinct, which is managed by Mantra Group under the high-end Peppers brand, has seen more than 80 apartments leased before settlements, and rental yields in the range 5.2 - 7.5%.</p>
<p>The project’s resort-style facilities such as a sunken pool, gym, private dining areas, VIP spa retreats, expansive sun-deck and concierge services are being cited as a big hit by Gurner.</p>
<p>Tim Gurner, founder of Gurner, said both the project’s settlement success and rental demand had proven the fears of oversupply wrong.</p>
<p>"People have been discussing Brisbane’s property market like it’s the end of the world as we know it," said Gurner.</p>
<p>"However, the fundamentals are strong, and with rental yields high and price points low compared to other major Australian cities, I believe Brisbane’s quality apartment market has only just started to hit its straps. </p>
<p>"The constant reports and negative whispers about Brisbane’s market are way too simplistic and alarmist when the reality is, quality apartments are settling well, they are leasing well, generating good rents and achieving solid resale prices."</p>
<p>But The Australian newspaper has reported more than 100 apartments in the high-profile inner-city Brisbane development are yet to settle.</p>
<p class="selectionShareable">Some 20 per cent of the first tower of property developer Gurner’s 520-unit FV development are yet to settle, it reported.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/Gurner-1.jpg" alt=""></p>
<p>Gurner said his marketing was not focussed on foreign buyers, unlike other projects of that scale, with only 110 out of 651 settlements by foreign buyers.  </p>
<p>“We are seeing more foreign buyers settle in cash rather than through bank finance as they seek to navigate the complex lending requirements, so this is not deterring them from settlement,” Gurner said.</p>
<p>“We have been saying for years that any talk of oversupply has been grossly overstated, due to analysts looking at the number of projects granted permits, rather than the number that actually start construction.” </p>
<p> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/13/Gurner-main.jpg" alt=""></p>
<p>ANZ’s head of Institutional Property, Eddie Law, said the bank’s outlook for good quality, owner-occupier apartment projects that are backed by experienced developers in Brisbane remained strong. </p>
<p>“We were delighted to be able to support and assist GURNER realise the creation of a premier residential product in Brisbane, despite the anticipated and known market supply metrics.” </p>
<p>The developer partnered with Singaporean listed company, Thakral across the development.</p>
<p>Gurner went on to say that Brisbane could again see an undersupply problem as a tightening of bank lending, construction price rises and foreign investment changes have almost stalled permitted off-the-plan projects.</p>
<p>“The Brisbane off-the-plan market literally came to a grinding halt about 12-15 months ago and by 2019 there will be virtually no new supply coming to the market and we will be talking about an under supply again,” he said. </p>
<p>“This means not only is there less stock on the market than first suggested, the rental market is incredibly tight and good quality apartments that will rent for between $400 - $700 per week are in very high demand. </p>
<p>The project’s third tower, No.1, is due for completion in mid-2019.</p>
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jonathanchancellor-7SQnKwU6yx

Gurner settles apartments worth $200 million in Brisbane in quick time, downplays oversupply concerns

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<p>Smarta Property, a Double Bay-based developer, has bought the historic 33-unit Workers Dwellings building in harbourside Millers Point for $26 million which it hopes to convert into luxury apartments. </p>
<p>Its plan is to refurbish the property, turning it into luxury dwellings.</p>
<p>The developer bought the three-storey block of 33 apartments from the NSW government as part of its public housing sell-off to fund affordable housing.</p>
<p>The Workers Dwellings were originally built by the Sydney Harbour Trust circa 1910 for wharf labourers, storemen, stevedores and gasworks hands. </p>
<p>The $26 million transaction is the largest so far in the Millers Point sales programme, through which the government has raised $448 million, according to The Australian.</p>
<p>The government selloff is also resulting in the gentrification of Millers Point, with the suburb transforming into an elite club.</p>
<p>Lawyers and real estate executives are making multimillion-dollar purchases of former hous­ing commission terraces and units and turning them into exquisite inner-city mansions.</p>
<p>Smarta Property, run by brothers Luke and Andrew Veron, has a history of refurbishing apartment blocks but this will be its most significant project. </p>
<p>Located between 30 Lower Fort Street and 4 Trinity Avenue, the apartments are being designed to house the professionals working in the nearby Barangaroo precinct.</p>
<p>Smarta plans to restore the homes, bringing them up to an ultra-modern standard and selling them off within 18 months.</p>
<p>Any refurbishments of the historic properties must be in line with the  conservation guidelines endorsed by the NSW Heritage Council.</p>
<p>“We’re going to renovate, strata them, and sell them off individually,” director Luke Veron said.</p>
<p>Of the 33 apartments, 21 are three-bedders while the rest are one-bedroom units.</p>
<p>Following closure of a public tender process, the historic building was sold via negotiations managed by Peter Starr, Lorraine Crawford and Andrew Stewart of McGrath.</p>
<p>The project fits with Smarta’s focus on boutique projects. Recent developments include eight units in waterside Balmain and a 36-unit block in Lilyfield.</p>
<p>The apartments were sold in one line, rather than as four separate lots of units, as the greatest value could be realised by one developer.</p>
<p>With more properties being offered at Millers Point, more Barangaroo executives are tipped to chase the remaining real estate in the harbourside enclave.</p>
<p>“It’s going to be beautiful,” Starr said, citing London’s exclusive Knightsbridge and Kensington districts as points of comparison.</p>
<p>“This is the oldest suburb in Australia — but it hasn’t been in private ownership since around 1900,” he said.</p>
<p>The latest batch of properties will be auctioned on October 11.</p>
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Veron brothers' Smarta Property revealed as buyer of historic Workers Dwellings at Millers Point 

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<p>Malaysian developer SP Setia has sold 80 per cent of the apartments in its luxury twin-tower Melbourne project on Exhibition Street, contrary to concerns of a slowing in the apartment market.</p>
<p>The developer paid a record $101 million for the former Telstra Exchange site at 308 Exhibition Street in 2016.</p>
<p>SP Setia’s mixed-use development project, which will also feature a five-star hotel, is estimated at $640 million.</p>
<p>The developer did not say how many of the roughly 280 apartments in Sapphire By The Gardens sold so far were to overseas buyers, but according to The Australian Financial Review, foreigners made up a high proportion of buyers.</p>
<p>Recent reports from Chinese-based real estate agents suggested a sharp fall in interest from offshore buyers for Australian apartments due to restrictions on capital outflows imposed by Beijing, new stamp duty surcharges and a tighter lending market in Australia.</p>
<p>Jon Ellis, who runs off-the-plan marketplace Investorist, recently said demand was down 40 per cent, but that developers of quality projects were still making sales in Asia.</p>
<p>Last year, the developer also bought an 850 sqm development site in Melbourne’s Prahran.</p>
<p>"Quality high-rise developments in Victoria, like Sapphire By The Gardens, will continue to attract a healthy mix of offshore, interstate and local interest" said Tim Storey of Colliers International Residential, the lead selling agent on the project.</p>
<p>The project has a residential tower with 345 apartments and a second tower that will be house a five-star hotel Shangri-La hotel with about 500 rooms. Overlooking Carlton Gardens, the project is expected to be complete by 2021.</p>
<p>The project includes a $29 million penthouse with the remaining apartments priced from $1.085 million, to just under $1.9 million.</p>
<p>The developer is holding events to launch the sale of the remaining 20 per cent apartments in the coming weeks in Sydney and Melbourne.</p>
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Malaysian developer SP Setia says 80 percent units sold in luxury Melbourne tower

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<p>A one bedroom West Footscray apartment has sold for $208,000 making it Melbourne’s cheapest weekend auction sale.</p>
<p>Located at <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-126187274" target="_blank">20/697 Barkly Street</a>, the property is marketed for a first home buyer or investor.</p>
<p>It features a living area that leads a a kitchen/meals area.</p>
<p>The bedrooms has its own built-in robe.</p>
<p>Other feature includes a car space.</p>
<p>Public transport, Barkly Street Village and Central West Plaza are close to the property.</p>
<p>The property was offered through Century 21 agent Yogi Flis.</p>
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One bedroom West Footscray apartment sold for $208,000

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<p>James Packer is looking overseas to sell apartments in his ­luxury residential tower in Sydney’s Barangaroo at a time when the property market in the Harbour city has shown signs of slowing.</p>
<p>The 81 exclusive apartments are expected to hit the market soon via an expressions-of-interest targeted marketing campaign, followed by a formal launch.</p>
<p>And the target are the wealthy in global cities. </p>
<p>“Buyers in the gateway cities of the world will be targeted including­ London, New York, United Arab Emirates, Singapore, Southeast Asia, Hong Kong, Shanghai and Beijing,” Crown executive vice-president Todd Nisbet was cited as saying by The Australian.</p>
<p>Crown’s marketing push comes as Sydney home values were steady over the month and edged up just 0.3 per cent over the quarter, rising 13 per cent over the past year.</p>
<p>Melbourne values rose 0.5 per cent in August, 1.9 per cent over the quarter and 12.7 per cent over the year.</p>
<p>The apartments are being marketed by real estate agent Knight Frank and its London figurehead, Lord Andrew Hay. </p>
<p>Nisbet said he expected the 81 “sky homes” in the Crown residential tower also to appeal to the domestic Australian ­market. </p>
<p>“This isn’t the kind of project focused on the Chinese investors,” he said, clearly implying that the apartments are not being targeted towards Chinese buyers.  </p>
<p>“Investors are not the type of buyer that it is going to resonate with. We are targeting specific demographics and we will not disclose pricing at this time.’’</p>
<p>Though the pricing is being kept under wraps, there’s speculation that the penthouse atop the Barangaroo tower, to be branded Crown Sydney, One Barangaroo, could come with a price tag as high as $100 million.</p>
<p>Last year, Packer's Crown Resorts secured approval for his $2 billion Sydney casino at Barangaroo.</p>
<p> </p>
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James Packer looks to market luxury ‘sky homes’ in Barangaroo to foreigners

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<p>Iris Capital only sold 17 of 39 apartments at its new $70 million development Grand Bondi Junction in Sydney's east.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris3.jpg" alt="" style="font-size: 12.16px;"></p>
<p>The most popular apartments sold were two-bedroom units.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris6.jpg" alt=""></p>
<p>The highest priced apartment was $2.5 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris4.jpg" alt=""></p>
<p>Iris Capital launched their $70 million residential development claiming "impressive market demand" - although it continued the recent downturn in the initial Saturday sales tally to around 50 percent rather than the 100 percent sellouts in the off the plan sales heyday.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/700_iris5.jpg" alt=""></p>
<p>The development attracted strong interest from local owner occupiers purchasers from around the Eastern Suburbs area, CBRE agent Ben Stewart noted, adding Grand was destined to become a timeless residence in Bondi Junction.</p>
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Not so grand sales result for Iris Capital at Bondi Junction

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<p>A class action seeks to claim up to $100 million over allegations that GST was charged wrongfully on the sale of apartments in the ACT.  </p>
<p>International litigation funder IMF Bentham, which is working with Corrs Chambers Westgarth, announced the law suit to the ASX on Tuesday.</p>
<p>It has lodged a statement of claim with the Federal Court in NSW alleging Belconnen Lakeview, a company in the Hindmarsh Group, charged and collected GST on the sale of 352 units in Altitude Apartments when no GST was payable, The Australian Financial Review reported.</p>
<p>IMF Bentham has also identified 25 residential developments sold by various developers in the ACT that may fit the same criteria.</p>
<p>"Over 3000 unit owners in the ACT across a range of developments have already sent us their contracts, and in many cases it seems the purchaser was wrongly charged GST," IMF Bentham Sydney investment manager Oliver Gayner was quoted as saying by the AFR.</p>
<p>"We have given Belconnen Lakeview every opportunity to explain the conduct alleged in the statement of claim, and in the absence of any satisfactory explanation we have now determined to put the matter before the Federal Court to decide."</p>
<p>Assuming an average unit price of $450,000 and an average GST claim of around $40,000, as much as $100 million might be outstanding. </p>
<p>The statement of claim says Belconnen Lakeview used its accountant to obtain an ATO private ruling which switched the tax status from 'taxable' to 'input taxed' shortly before sales commenced. But the company did not inform its customers, who continued to be charged GST, according to the claim.</p>
<p>Hindmarsh Group in the ACT did not comment.</p>
<p>The federal government is also worried that some developers have not remitted GST on new apartments. </p>
<p>This year’s federal budget laid out that as of mid-2018, GST on new homes will be collected directly from home-buyers and not from developers. </p>
<p>The new remittance arrangement is expected to add $650 million in GST revenue over four years.</p>
<p> </p>
<p> </p>
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