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>
</main>

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

Auctions

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The Cotton On model Lara Bingle's Darling Point apartment offering failed to find a buyer at its damp Sydney auction.
And with the vendor uncontactable overseas, there was no chance for immediate price negotiations around the undisclosed written reserve.
Bingle, spotted this week holidaying in Capri, Italy with partner Sam Worthington, subsequently accepted a post-auction offer Saturday evening, but too late to be included in <a href="https://domainmastheads.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">the Fairfax Media auction results</a>.
Property Observer gathers $875,000 was secured, slightly less than its $882,000 sale in 2010.
The top auction bid was $855,000 from one of the two bidders at the crowded 10.30am auction in the 65 square metre one bedroom apartment. The onsite bidding opened at $825,000 with a vendor bid subsequently placed by the McGrath auctioneer Scott Kennedy-Green at $850,000. Property Observer counted around 25 at the auction. There appeared to be three interested buying parties.
<img src="/images/2014/06/16/bingle-june-16-one.jpg" alt="">
The weekend Sydney auction clearance rate weakened slightly from the late May fillip to 75.6% on higher than normal winter volumes, according to Australian Property Monitors, with sales between $180,000 in Blacktown and $5.25 million in Mosman. 
McGrath Estate Agents had, in the lead up to the Bingle auction, revised its price expectations to more than $850,000 for the Darling Point apartment.
The agency initially was quoting more than $825,000 for the stylish one-bedroom, with one car space that was listed<a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/225301/?searchID=39312079" target="_blank"> through Richard Bonouvrie</a>. 
The marketing campaign was not assisted when <a href="/news/fairfaxs-domain-tips-lara-bingle-will-secure-1-million-plus">Fairfax Domain</a> speculated, seemingly of its own volition, that it could fetch $1 million plus.
The model bought it from interior designer Blainey North for $882,000 in 2010, soon after Bingle's break-up with Test cricket captain Michael Clarke.
Blainey North moved into a $2.2 million Potts Point apartment.
The Bingle apartment is the Goomerah Court company title art deco apartment apartment with city and harbour views from most of its 65 square metre space.
<img src="/images/2014/06/16/bingle-june-16-two.jpg" alt="">
It came with American oak parquetry floors, DeGourney silk wall panelling, Kreon lighting and Vola tap ware. Its quarterly levy was $2000.
There had been two other McGrath sales in the cul de sac block when $925,000 was secured for <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/76865" target="_blank">a two bedroom unrenovated listing</a> and then a <a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/193910/?searchID=38820498" target="_blank">renovated two bedroom sale last October</a> at around $800,000 which explained the initial pricing estimate.
It was Bingle’s brother, and former reality show co-star, Josh Bingle who endeavoured to represent his sister at the auction. The listing had $850,000 plus price guidance on the McGrath website immediately after the onsite auction, and the McGrath weekend sales advisory did not give any update at close of business Saturday afternoon. However it was sold Saturday evening with the price undisclosed.
Of course the building is best known for its long association with Jean Wright, regarded as the doyenne of magazine stylists.
She was responsible for many of the upmarket glossy pages in local and international magazines and books with her trademark look, contemporary classicism, all the time operating out of a small, modern, all-white apartment there in Darling Point after her move from Melbourne. 
The Melbourne weekend auction clearance rate, according to APM, was 73.8%, with prices between $262,000 at Seaford and $4.65 million at Hawthorn East.
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jchancellor-FAypfDUnLy

Buyer secures slight discount on fashionista model Lara Bingle's Darling Point apartment

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Research by RP Data comparing the level of property ownership between owner occupiers and investors at a suburb level in Melbourne reveals some clear and interesting trends.
The results show that ownership for investment purposes in the Melbourne detached housing market is strongest in the growth suburbs. In many of the cities growing outer suburbs investor ownership accounts for more than three in every 10 properties.
When ranked by level of ownership by investors, the top three suburbs are <a href="/news">Point Cook</a> which has 41.9% of all houses owned by investors, followed by <a href="/news">Tarneit</a> with 40.9% and <a href="/news">Truganina</a> at 39.8%.
In each case, median rents are below the Melbourne average of $444 per week and yields are in excess of the metropolitan average of 3.3%.
In Point Cook the median advertised rent is $380 per week and the indicative gross yield is 4.3%. In Tarneit the weekly rent is $315, the yield is 4.4% and in Truganina the rent is $320 per week and the yield is 4.7%. Clearly investors in these areas are motivated by the yield.
Only time will tell how these suburbs will fare from a capital gains perspective as they are still experiencing a high rate supply with many new properties being built and sold. Coupled with this is the short length of ownership making it difficult to draw strong conclusions on capital gains into the future.
At the other end of the spectrum are the areas with the lowest proportion of investor ownership and highest level of owner occupiers. RP Data’s research shows that less than one in 20 houses in the suburbs of <a href="/news">Narre Warren North</a>, <a href="/news">Wonga Park</a>, <a href="/news">Launching Place</a>, <a href="/news">Park Orchards</a> and <a href="/news">Montrose</a> are owned by investors. Like many other suburbs with a very low level of investor activity, these places tend to be in the outer eastern or north eastern suburbs.
In the unit segment of the market, the suburbs with the highest levels of investor ownership are often those with significant and large developments with suburbs such as <a href="/news">Travancore</a>, <a href="/news">Kingsville</a>, <a href="/news">Carlton</a>, <a href="/news">Elwood</a>, <a href="/news">Notting Hill</a>, <a href="/news">Hawthorn</a> and <a href="/news">Melbourne</a> topping the list. Each of these areas has more than seven in 10 units owned by an investor.
If you are looking at this data with a view to investing in residential property it is important to appreciate that just because investor concentration is high in these areas it does not mean these are the areas likely to deliver the best return on an investment. When making investment decisions, great care and attention to detail such as using the correct research is imperative.
There are 922 auctions scheduled this week in Melbourne compared to 868 for the same time last year.
Auction volumes remain high despite the season.
Based on settled sales in the first quarter of this year, the suburbs with the highest number of house sales were mainly in the growth areas, suburbs with a high supply of new homes, such as <a href="/news">Pakenham</a> with 185 sales, <a href="/news">Berwick</a> with 139 sales and <a href="/news">Frankston</a> with 134 sales. Whilst not a growth suburb, <a href="/news">Glen Waverley</a> was fourth at 117; largely the result of it being a large suburb.
We also saw a contraction in the average time on market for houses sold at private sale from 39 to 35 days. This was coupled with a rise in vendor discounting to – 5.6% from -5.5% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 8 June: 62.4%</li>
<li>Melbourne auctions expected week ending 15 June: 922</li>
<li>Melbourne private sales time on market week ending 8 June: 35 days (houses)</li>
<li>Melbourne vendor discounting market week ending 8 June: -5.6% (houses)</li>
<li>Listings being prepared for market are 1.1% higher in month ending 8 June (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Investor activity high in growth suburbs: RP Data's Melbourne weekend auction preview

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A preliminary weighted average clearance rate of 59.9% was recorded this week across capital cities compared to 66.4% last week and 61.4% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3346" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city-580x436.jpg" alt="RP Data National Auction Comment - Capital City" width="580" height="436"></a>
This is well below the year’s high of 76.2% recorded in late February, however comparatively low volumes this week reduce its value as an indicator to the state of the market.
In the Sydney market a preliminary clearance rate of 65.7% was recorded compared to 73% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3347" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney-580x391.jpg" alt="RP Data auction comment - Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 61% recorded compared to 65.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3348" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne-580x386.jpg" alt="RP Data auction comment - Melbourne" width="580" height="386"></a>
In Brisbane a preliminary clearance rate of 42.9% was recorded compared to 42.5% last week. Adelaide recorded a clearance rate of 63% compared to 55.3% last week. In Canberra a clearance rate of 50% was recorded and in Perth there was a clearance rate of 33.3%. In Tasmania four homes sold from 17 auctions.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3349" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane-580x386.jpg" alt="RP Data auction comment - Brisbane" width="580" height="386"></a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3350" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide-580x393.jpg" alt="RP Data auction comment - Adelaide" width="580" height="393"></a>
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Low auction volumes across capital cities: RP Data's national auction wrap

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Sydney's cheapest long weekend sale was $348,000 at Auburn.
It sold pre-auction, as did many of the weekend offerings.
As soon as it was sold by First National Auburn Waters &amp; Carpenter, the investor buyer put <a href="https://www.firstnational.com.au/buy-residential-real-estate/apartment-unit-3-88-station-road-auburn-nsw-11421100562" target="_blank">the three bedroom 88 Station Road apartment</a> for lease pending its settlement.
Seeking $400 a week, the sale thereby reflects a 5.9% rental yield. It last sold at $230,000 in 2005.
Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.
<a href="/news/leichhardt-forges-another-residential-record-for-former-fire-station">Leichhardt has a new suburb record</a> with the current record-holder home selling on the long weekend for $3.05 million.
Set on 658 square metres, the four-bedroom, four-bathroom home <a href="https://www.realestate.com.au/property-house-nsw-leichhardt-116876611" target="_blank">sold through Ray White Inner West's David Eastway</a>. With that much land it is about three times bigger than the typical Leichhardt block.
It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.
{qtube vid:=ZXtDXy8QCE}
The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/50202" target="_blank"> a record $2.45 million</a> through McGrath.
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Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering

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Victorian Consumer Affairs Minister Heidi Victoria has rejected weekend media reports that ­collusive bidding was a problem at weekend auctions.
“Consumer Affairs Victoria is not aware that this practice is currently prevalent ,” she told the Australian Financial Review.
The paper<a href="https://www.afr.com/p/national/buyers_dirty_auction_tricks_exposed_fUcTgsHwP88nAb6vLujfdM" target="_blank"> </a>reported two or more ­bidders representing one buyer at an auction, creating the impression there are multiple buyers, was a common occurrence at Melbourne auctions.
The AFR noted it was more of an issue in Victoria than NSW, where bidders are required to register before auction.
NSW Fair Trading Minister ­Matthew Mason-Cox said collusive bidding was already outlawed, but would consider if new forms of the practice required a legislative update.
The AFR suggested the unscrupulous buyers were working with the help or encouragement of buyer’s agents.
By creating the impression that there are multiple buyers bidding for the same property, one buyer’s agent claimed the tactic worked by reputedly saving their client $300,000 plus at auction to the annoyance of the vendor if they knew. 
“It’s illegal, but very hard to police,” said Rich Harvey, from the Sydney buyer’s agency, propertybuyer.com.au, who slammed the practice in the article.
The ploy also created an impression in the vendor’s mind that there was good activity below the reserve, and so encouraging the vendor to put the property on the market, rather than pass it in.
NSW regulations state that a person must not induce another person to abstain from bidding or do anything in any way which may prevent free and open competition.
Paul Osborne from Melbourne buyer’s agency, The Secret Agent, said he had seen three people representing the same buyer bidding at auction.
"Buyers use all kinds of theatrics that are not transparent,” he said.
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Collusive auction bidding not prevalent: Consumer Affairs Victoria 

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Leichhardt has a new suburb record with the current record-holder home selling on the long weekend for $3.05 million.
Set on 658 square metres, the four-bedroom, four-bathroom home <a href="https://www.realestate.com.au/property-house-nsw-leichhardt-116876611" target="_blank">sold through Ray White Inner West's David Eastway</a>. With that much land it is about three times bigger than the typical Leichhardt block.
It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.
{qtube vid:=ZXtDXy8QCE}
The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/50202" target="_blank"> a record $2.45 million</a> through McGrath.
Title Tattle gleans the highest sale in the interim was $2.25 million on <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/121074" target="_blank">Henry Street</a> in 2011 through McGrath who had unfulfilled $2.65 million hopes for the colonial home.
The Queens Birthday weekend auction offering came with a swimming pool, Annie Wilkes-designed gardens, separate guest house and French manor-inspired interiors.
The manor home was originally the suburb's 1895 fire station. The property, with frontage on Carlisle and Marlborough streets was bought by the Hargreaves from the army in 1993 for $326,000. It was an army drill hall during World War I. 
Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.
Melbourne agents secured a 69.9% result with the top sale at $1.74 million at Brighton.
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Leichhardt forges another residential record for former fire station

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The key differences between the past two property cycles and the current one has become much clearer following Monday’s release of the <a href="https://image.e.rpdata.com/lib/fe591570776d03757d17/m/7/2014-06-02--rpdata-rismark-home-value-index.pdf" target="_blank" title="Read media release">RP Data-Rismark Home Value Indices results for May</a>.
The May results showed that the value of a house dropped by 3.6% in May resulting in a rise of only 1.6% over 2014. Unit values also fell by 2.6% over the year following; a drop of 3.4% in the month.
After a new nominal peak in Melbourne house values was reached in March, there has been two consecutive months in which values have fallen ensuring buyers in winter and early spring won’t face rapid price rises. In fact, they are likely to see houses valued lower than they were in real terms in 2010. This result should also eliminate any concerns that the local market was locked into a cycle of unstainable growth in prices.
This upswing phase in house values started in May two years ago and is clearly more moderate than the 2007 and 2010 cycles due to better alignment between supply and population growth along with the fact that consumers remain cautious. Over the past two years, house values in Melbourne have risen by 13.1%  and are now only 0.7% higher than the October 2010 peak.
There are 303 auctions scheduled this week in Melbourne compared to 197 for the same time last year. Volumes are temporarily low due to the long weekend.
So far this year there have been 16,357 auctions and a clearance rate of 67.5% compared to 68.6% from 12,341 auctions this time last year.
The high volume of residential listings this year is having a positive impact for buyers. Home values have fallen for the second month in a row and auction clearance rates have remained in the 60’s.
The RP Data-Rismark May Home Value Index released this week showed that the value of a house dropped by 3.6% in the month resulting in a rise of only 1.6% over 2014. Unit values fell by 2.6% over the year following a drop of 3.4% in the month. It’s unlikely that buyers over winter and into spring will see their purchasing power diminished.
We also saw a small fall in the average time on market for houses sold at private sale from 41 to 39 days. This was coupled with a rise in vendor discounting to – 5.5% from -5.4% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 1 June: 65.4%</li>
<li>Melbourne auctions expected week ending 8 June: 303</li>
<li>Melbourne private sales time on market week ending 1 June: 39 days (houses)</li>
<li>Melbourne vendor discounting market week ending 1 June: -5.5% (houses)</li>
<li>Listings being prepared for market are 1.1% higher in month ending 1 June (seasonally adjusted)</li>
</ul>
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Melbourne house and unit values fall for two consecutive months: RP Data's Melbourne weekend auction preview

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A total of 10 childcare centres, all leased, will be auctioned later this month by Burgess Rawson.
The childcare centre freeholds all have triple net lease terms, where the tenant is responsible for the payment of rates and structural maintenance.
<ol>
<li>1-3 Beautel Street, Waterford, QLD. Secure lease to 2018. Rent at $97,567 per annum. 
</li>
<li>2 Blackbutt Place, Byron Bay, NSW (pictured above). Secure lease to Goodstart to 2023. Rent at $55,543 per annum. 
</li>
<li>4A-6A Finchley Place, Kealba, VIC. Secure lease to Goodstart to 2020. Rent at $95,771 per annum. 
</li>
<li>13 Tenterfield Avenue, Hoxton Park, NSW. Secure lease to Goodstart to 2021. Rent at $137,859 per annum. 
</li>
<li>1 Orchard Street, Baulkham Hills, NSW. Secure lease to 2024. Rent at $129,509 per annum. 
</li>
<li>1 Niland Rise, Templestowe, VIC. Secure lease to national operator to 2024. Rent at $93,102 per annum. 
</li>
<li>104-106 Main Hurstbridge Road, Diamond Creek, VIC. Secure lease to national operator to 2024. Rent at $126,821 per annum. 
</li>
<li>5-7 Hercules Street, Tamworth, NSW. Secure lease to 2018. Rent at $56,724 per annum. 
</li>
<li>28 Keen Street, Lismore, NSW. Secure lease to 2024. Rent at $56,327 per annum. 
</li>
<li>69-71 Telford Street, VIC. Secure lease to Goodstart to 2020. Rent at $101,586 per annum.</li>
</ol>
The properties all be auctioned at the Crown Conference Centre in Southbank at 10:30am on Wednesday 25 June.
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jrichardson-uRX5hFdKfN

10 leased childcare centres for sale later this month

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There was something oddly sweet when a humble weatherboard home behind a white picket fence on a 594 square metre block at 17 Banksia Street, Bentleigh East in Melbourne followed me on Twitter recently.
Talk about old world meets new via <a href="https://twitter.com/17BanksiaStreet" target="_blank">social media</a> in the digital realm.
It's just a tiny tactic to possibly gain a little more attention for the auction from me and my somewhat paltry 1,480 Twitter followers before it goes to 21 June hockingstuart auction in conjunction with Vendor Marketing <a href="https://www.realestateview.com.au/Real-Estate/17-banksia-street-bentleigh-east/Property-Details-buy-residential-7169801" target="_blank">with $620,000 plus hopes</a> (pictured below). 
Listing and inspection times has been its only tweets so far, so nothing too personal yet. 
There's just the 11 following the house which is currently following 52 other twitter accounts, including <a href="https://twitter.com/BryceHoldaway" target="_blank">Bryce</a>, <a href="https://twitter.com/larryschles" target="_blank">Larry</a> and <a href="https://twitter.com/psprekos" target="_blank">Petra</a>. 
<img src="/images/2014/06/03/bentleigh%20east%20june%203%20one.jpg" alt="">
Of course the free Twitter placement is still only popular with a certain market audience, and certainly not embraced by all. I was a late adapter starting only three years ago this October. 
The most garrulous house I've come across was 8 Yarra Bank Court in Abbotsford which signed up to a Twitter account in an 2012 attempt to harness social media to sell the property.
Every day or so the house tweeted another comment about how things are going in the area and what a joy it is to live there. 
After joining Twitter the account had 272 followers after 21 days, and sold for $1.93 million. 
 
<img src="/images/stories/2012/06/housetwitter.jpg">
The Twitter campaigns are part of an emerging social media trend in Australia, started back in early 2012 by Northcote resident Kurt Opray. 
He reckons his Northcote house sold for $135,000 above his reserve price after signing the house up to Twitter and YouTube and starting a blog. As a pioneer, it had generated huge publicity on old media, via print and television coverage. Kurt even went onto <a href="https://www.hottestproperty.com.au" target="_blank">establishing a company</a> that packaged and promoted the medium, though hasn't really been mentioned much over the past two years judging by a google search. 
Meanwhile I recently noticed real estate experienced its strongest result on record for Australian online advertising in the March quarter as the property industry ramped up its digital spending.
<img src="/images/2014/05/29/iab-may-29-one.gif" alt="">
Source: IAB Australia.
The latest <a href="https://www.iabaustralia.com.au/research-and-resources/research-resources/item/1689-iab-australia-quarter-ended-march-2014" target="_blank">IAB/PWC Online Advertising Expenditure </a>report showed real estate had increased its category share of general display online advertising by 1.9% in the March quarter, to hit 10.4% sitting in third place.
The report said this result represents the highest retail category share for real estate since the data collection began in 2008.
Motor vehicles (20.7%) and finance (10.7%) topped real estate in the online ad spend.
Around 30% of the overall advertising pie is spent on digital, with the overall online advertising market growing 17.1% year on year to $1.067 billion. Digital's 30% is ahead of both free to air television and newspapers.
However, overall online advertising dollars fell in the March quarter by 1.9% compared to the previous December quarter.
"The March quarter is always slightly softer than the strong December quarter, however, it was pleasing to see strong year on year results," explains IAB director of research, GaiLeRoy.
Search and directories accounts for the biggest portion of online advertising at 54%, with general display with 28%, and classifieds at 17%.
Mobile advertising made up 15% of total online advertising expenditure, compared to 14% in the December quarter.
Video advertising had year-on-year growth of 55 percent, and represented 14 percent of digital display dollars for the quarter. Classifieds grew by 4.4 percent since March, 2013.
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Tweeting over the humble white picket fence @17BanksiaStreet highlights ever expanding digital era

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The BRW rich-lister Mark Rowsthorn has sold the former Golden Crust bakery in Armadale, in Melbourne’s inner south-east, for $11.5 million.
The bakery, built in 1915, was converted into a luxury five-bedroom residence by architects Jackson Clements Burrows in 2010 (pictured above).
Title Tattle gathers it has been bought by the Toorak couple, Sara and Clark Kirby. He is the chief operating officer of Village Roadshow. Their $2,695,000 plus redundant Toorak offering remains for sale after failing to sell at last month's Marshall White auction.
It was last sold in 2006 at $4.5 million to Rowsthorn and Allison Gibson through Kay &amp; Burton by the antique dealers Edward and Peta Clark who had 69 Sutherland Road as their home and gallery. The Clarks <a href="/news/vic/industrial-era-windsor-factory-abode-listed-with-3-5-million-plus-hopes">moved to Windsor</a>, selling to their interior designer daughter, Tamsin Clark and her husband Patrick Johnson for $3.1 million in early 2013.
Built in 1915, the former Golden Crust Bakery was largely untouched when the Clarks bought the 915 square metre holding in the mid-1980s.
It still bears the original bakery signage on its brick exterior, the Australian Financial Review wrote.
The other bakery sale was at the weekend when 1A College Place, Albert Park (pictured below) sold at $3,705,000 through Greg Hocking Holdsworth to Julian Cress, co-creator of the Channel Nine series, The Block. 
The vendors had bought The Block contestants Kyal and Kara's apartment in last season's finale.
With separate living and dining spaces, <a href="/expert-insights/buying/albert-park-former-1896-bakery-listed-in-the-block-aftermath">the five bedroom property had been tipped to fetch more than $2.9 million at its auction</a>.
<img src="/images/2014/05/20/albert%20park_0000_1.jpg.jpg" alt="Albert Park former 1896 bakery listed in The Block aftermath">
There is an upstairs retreat at the 300 square metre holding with ivy-covered red brick house that was the Albert Park bakery between the 1890s and 1920s. The property originally fronting Kerford Road. 
<a href="https://www.realestate.com.au/property-house-vic-albert+park-116896327" target="_blank" style="line-height: 1.3em;">Warwick Gardiner, of Greg Hocking Holdsworth, had the listing</a> which traded at $860,000 in 1998.
Julian Cress and Sarah Armstrong have been renting in Albert Park.
Super Saturday had 1,159 properties scheduled to go under the hammer, the third highest weekend for auctions this year.
Australian Property Monitors reported Melbourne has conducted more auctions over the first five months of this year than over the same period in any previous year. 
There was a preliminary weekend clearance rate of 74.4%.
Photo of Golden Cruset Bakery, Armadale © Shannon McGrath. Architect Jackson Clements Burrows Pty. Courtesy of Facebook.
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