Joel Robinson

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

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

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

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

Auctions

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A striking Alex Popov-designed Hunters Hill riverfront house last traded in 2007 for $3.55 million and fetched $3.85 million at weekend auction.
With expansive Lane Cove River views, the contemporary, three-level Bonnefin Road residence comes with plunge pool and sauna.
The five-bedroom, four-bathroom property sold through <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-116789471" target="_blank">Savills agents Adam Ross and Shayne Harris </a>in conjunction with BresicWhitney
It was the weekend's highest reported auction sale. Bidding kicked off at $2.9 million before a crowd of 60 attendees.  There were some 37 bids with Adam Ross of Savills the architect was a big draw card. 
“Popov is one of those architects with a cult following."
Title Tattle gathers one of the bidders missed out on his third desired Popov home.
The split-level home was built for then Vogue chief financial officer Aye-Ling Koh set on its 1,114 square metre holding.
There is floor-to-ceiling glass and wrap-around decking.
It was built in 2000 after the block was bought in 1995 for $550,000 with the home designed based around a central pavilion with a wing on each side.
Popov had the main pavilion with the kitchen and a dining area overlooking the living room.
In the eastern wing Popov placed the main bedroom with ensuite, walk-in dressing room and northerly views across the river. The level below had another bedroom with an ensuite.
The western wing had two bedrooms, a bathroom, laundry and sauna.
Nicholas McEvoy mentioned over 100 groups viewed the home. 
"It’s exciting to see homes on this side of Hunters Hill now achieving close to $4 million which is typically only seen on the peninsula, the sale is now the highest price achieved for the location.” 
The last known Alex Popov-designed waterfront house sale was last August when $3.75 million was secured in North Sydney, having passed in at its March auction.
Some 888 homes were listed to go under the hammer, the second highest number of auctions conducted on a weekend for the year next to the record-breaking pre-Easter super Saturday of auctions on April 12th when 1,111 properties were auctioned.
Sydney’s Super Saturday secured a 78.9% preliminary success rate, according to Australian Property Monitors.
Sydney had more properties auctioned and sold over the first five months of this year compared to the same period in any prior year.
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jchancellor-FAypfDUnLy

Alex Popov, Hunters Hill-design tops Sydney weekend auctions

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Higham, the five bedroom <a href="/news">Hawthorn East</a> residence, was the weekend's highest auction sale.
It sold for $5.2 million through Ross Savas and Sam Wilkinson of Kay &amp; Burton.
Last sold in 1988 for around $940,000, it is a <a href="https://www.kayburton.com.au/property/6-higham-road-hawthorn-east" target="_blank">gracious English-inspired solid brick two storey home on 1,450 square metres</a> in Higham Road.
The road had two sales above $3.3 million last year.
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Higham, Hawthorn East trophy home sells for $5.2 million, weekend's highest sale

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The great Sydney weather and the five Saturdays in May before the June long weekend, have all assisted the record auction listing volumes.
And while there has been some buyer caution, certainly more evident than pre-Easter, the buyers have still put their hands up so that there have been record sales.
The have mostly maintained the revised auction clearance rate in the 70s.
It was running in the 80s pre-Easter especially on the preliminary results.
With bidding a little more cautious, the price growth has slowed a bit too.
Price are still rising, at around 2% a quarter, so down on the 15% annual rate of last year for Sydney.
One of the continued strong points has been the Chinese and Australian/Chinese buying.
It's remained especially strong in the off the plan offerings, and there are continued pockets of intensity in some established home markets, but I don't sense it is in the first home buyer segment.
This weekend is possibly the last big hurrah before the traditional winter hibernation. There are some 888 offerings, according to Australian Property Monitors.
Dr Andrew Wilson, the APM senior economist, notes Sydney’s inner west will host the most number of auctions this weekend with 160 followed by the city and east with 120.
The most popular suburbs listed for auction at the weekend in Sydney are <a href="/news">Mosman</a> on the lower north and <a href="/news">Epping</a> on the upper north shore, each with 12 homes scheduled to go under the hammer. 
Next most popular is <a href="/news">Randwick</a> in the city and east, <a href="/news">Blacktown</a> in the west, <a href="/news">Chatswood</a> on the upper north shore, <a href="/news">Maroubra</a> in the city and east and <a href="/news">Alexandria</a> in the inner west each with 11 homes listed for auction.
"Sydney will record its hottest ever autumn selling season with significantly more properties auctioned and sold over the first five months of this year compared to the same period in any other year," he advised.
The Sydney volumes have been at 100% higher than the same weekends last year on at least two weekends.
Sydney agents more than ever have been running campaigns this year urging vendors to consider winter listing.
They seem to have at least succeeded for the next fortnight as the long weekend has 380 scheduled auctions, which is 50% up on last year. 
Then some 570 offerings on the 14 June weekend, which is 25% busier than the same weekend last year.
Melbourne hasn't been too dis-similar although overcoming its early autumn waning, Melbourne's clearance rate is on the rise and the volumes have been running at around 50% higher listings  than last year.
However Melbourne’s weekend auction market will smash three records this weekend as the autumn selling season reaches a grand finale crescendo.
This weekend’s Super Saturday of auctions has 1,159 properties scheduled to going under the hammer which will be the third highest weekend for auctions this year, according to Dr Wilson.
"This year will not only break the record for the highest number of auctions ever conducted in the Melbourne metro area over a May with 4,450 listed, but will also likely break the record for the most number of auction sales recorded in the month of May.
"Melbourne has conducted more auctions over the first five months of this year than over the same period in any previous year," he said.
Melbourne’s inner suburbs dominate this weekend's auction listings with the inner east having 189 homes scheduled to go under the hammer, closely followed by the inner city with 188.
The most popular suburb for auction listings at the weekend in metro Melbourne is <a href="/news">Glen Iris</a> and <a href="/news">Richmond</a> each with 22.
With 18 auctions are <a href="/news">Brighton</a>, <a href="/news">Northcote</a> and <a href="/news">Camberwell</a>.
APM has 250 scheduled auctions on the long weekend, then 820 so that's slightly busier than the same time last year.
Picture courtesy of Tim J Keegan/Flickr/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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Last weekend auction hurrah before winter hibernation?

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Businessman Paul Ehrlich and his wife Lauren secured a bullish $10.1 million for their palatial Vaucluse home, highlighting the price resurgence of inland Vaucluse mansions.
It had been listed for auction last night, first with hopes of $8.5 million, then $9 million plus, but three Australian/Chinese buyers pushed the price into double digit million territory.
<a href="https://www.raywhite.com/nsw/vaucluse/1133320/" target="_blank">The three-storey Towns Road mansion</a> dates back to the architect Harold Finger who built it around two decades ago.
He sold it in 1996 for $4.28 million to Oriental Technologies Investment vice chairman Laurence Luo-Lin Xin.
The Ehrlichs bought it for $4.1 million in 1999. They met at Maccabi squash in 1983.
{qtube vid:=xeAzzKnNcYI}
Bidding opened at $8.7 million, with auctioneer James Keenan calling it on the market at $10 million, when it was subsequently knocked down to the opening bidder.
Set on 1200 square metres, the six-bedroom residence comes with a tennis court, indoor and outdoor pool and rooftop terrace with Sydney Harbour views.
It sold through Ray White Double Bay agents Elliott Placks and Ashley Bierman.
Last year close to 50 houses sold above the <a href="/news">2013 Vaucluse suburb median</a> of around $3.1 million as increased sales activity signalled the emerging signs of momentum. The median was once $3.8 million in 2011.
The top three harbourside properties sold at $14 million, $15 million and $19 million, but it is arguable that the resurgence hasn't yet got to the waterfront homes. 
The Singapore-based BRW rich lister Brett Blundy has yet to his Kutti Beach home, but secured around $7 million on his neighbouring non-waterfront home. 
Rag traders Nick and Susie Kelly bought last year from nautical engineering entrepreneur Philip Goymour and his wife, Tanya, setting the highest price for the year at $19 million on Kutti Beach.
But the mainland Chinese buyers appear to prefer inland with King Chu and Xiaoyi Zhu spending $15 million when they bought the Vaucluse Road, Vaucluse home of John and Mary Andrews from the Haverick Meats family mid-last year, some two years after its listing.
Australian cricket captain Michael Clarke recently bought his inland five-bedroom home for around $8.3 million. 
Lawyer John Williamson-Noble, a partner at Gilbert+Tobin, and his wife Renee, sold their Coolong Road home earlier this year at $6.5 million, having been listed last September with $6.5 million-plus hopes through McGrath's Hamish Robertson.
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Bullish $10.1 million under the hammer Vaucluse trophy mansion sale

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There are 1,264 auctions scheduled this week in Melbourne compared to 867 for the same time last year.
The strong level of auction listings in the first five months of this year compared to 31.6% higher last year is a reflection of two things; firstly it shows the confidence of vendors where they are willing to sell for a reasonable price, and secondly, a preference by real estate agents for auctions as a method of sale in an improving market.
The strong volumes will also mitigate price growth as buyers’ bargaining power is increased.
We saw a small rise in the average time on market for houses sold at private sale from 40 to 41 days. Vendor discounting reduced to – 5.4% from -5.5% the previous week.
Key data:
<ul>
<li>§ Preliminary clearance rate week ending 25 May: 61.7%</li>
<li>§ Melbourne auctions expected week ending 1 June: 1,264</li>
<li>§ Melbourne private sales time on market week ending 25 May: 41 days (houses)</li>
<li>§ Melbourne vendor discounting market week ending 25 May: -5.4% (houses)</li>
</ul>
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rlarocca-zWhvjay44N

Volume down on this time last year: RP Data's Melbourne auction preview

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Somehow when we talk about the biggest phenomenon in Inner Melbourne home buying, Chinese nationals, their spending power and the apprehension that is increasing out there among some home buyers when competing against overseas buyers, we get diverted from the main game.
The main game, in our mind, is not the Chinese nationals themselves. It is how they as a group have been changing the face of Melbourne home buying, particularly since 2009, and how you need to deal with the associated price issues that overseas wealth (demand) and reducing housing stock (supply) will have on you and/or your children’s current and future home buying plans.
What has been happening in the market in the last five years (post-GFC) <a href="/expert-insights/investing/chinese-buyers-in-melbourne-a-simple-case-of-supply-and-demand">is more about demand, supply and price than about Chinese nationals</a>. Big picture-wise, the price and supply changes we are seeing would have happened eventually due to organic population growth. However, right now the overseas market, and in particular the wealth and actions of Chinese nationals, are significantly accelerating the price and supply issues through their demand.
<blockquote>
Overseas buyers are not buying every home, everywhere. Their effect is much more like a snowball rolling down a mountain; in some markets this has turned into an avalanche, whereas in others it is still just a small snowball rolling down a mountain.
</blockquote>
As home buyers you need to deal with this, just as you need to deal with agents, auctions and other nuances of the Melbourne market.
Overseas buyers are not buying every home, everywhere. Their effect is much more like a snowball rolling down a mountain; in some markets this has turned into an avalanche, whereas in others it is still just a small snowball rolling down a mountain.
The effect of overseas buyers is best evidenced by the different strengths and bidder depth in the Inner East markets versus the Bayside markets.
The Inner East market is where Chinese national bidding is the most significant.
<ol>
<li>Inner East had a far shorter GFC period in 2008/2009 than Bayside</li>
<li>Inner East had minor price drops compared to Bayside in the GFC and in 2011/12</li>
<li>Inner East has stronger price per square metre land prices across the board (except absolute <a class="st_tag internal_tag" href="/news" title="Posts tagged with Brighton" rel="tag">Brighton</a> waterfront)</li>
<li>Inner East has changed streetscapes in many areas. with new builds specifically aimed at the Chinese national market, e.g. <a href="/news">Balwyn</a> and <a href="/news">North Balwyn</a>.</li>
</ol>
Short-term and understanding the changing market nuances
As buyers you need strategies to compete against wealthy overseas buyers now and to buy well generally now. You also need to understand as buyers that EOIs are set up in a number of cases for Chinese nationals and other overseas buyers. You need to manage that if the home you want to buy is being sold through an expressions of interest campaign.
You need to understand how Chinese nationals and other overseas buyers value land and buildings, so you can compete effectively.
You need to understand how different cultural influences affect private sale and EOI negotiations and you need to know how to prepare and bid at auction when competing against overseas buyers.
If you don’t, or your strategy is to wait, then we think you may have issues, as we have tried to illustrate in the above diagram.
But it’s not just about you buying a home now. What effect will this significant influx of wealth have on your children buying homes?
Longer term solutions and a different strategy
As buyer advocates, a large part of our business has always been buying generational homes for families to live in and pass on. We have acted many times for local and overseas clients, including Chinese nationals, with this as a key desired outcome.
An increasing market segment for us (with a slightly different take, but same desired outcome) is the purchase of smaller, well-located family homes through super funds.
These $1 million plus homes are bought as quasi-investments and sit in super funds with the view they can return some cash and provide some growth in the medium term; but ultimately they are purchased for our client’s children as a hedge against being priced out of the market.
Generational Homes for you and your children
Personally my family lives in a three home estate in Brighton with grandparents and parents and children. This has been set up like this to assist future generations to remain in the area (if they so choose).
It was relatively easy for my generation in the 1970s and 80s to move from Outer Melbourne (Doncaster was then Outer) to Inner Melbourne (Malvern then Brighton).
But how easy will it be for our children to find a home? Our children may well be the first generation that is living in poorer accommodation as adults than they grew up in as children.
Unless our children are rocket scientists with an entrepreneurial bent, or they get parental help, they will be moving further away from Inner Melbourne on affordability grounds. Or they will be living nearby but in apartments.
In moving further away from Inner Melbourne your children will also be moving further away from infrastructure, transport, school choice, the footy, restaurants and you.
We suggest you develop strategies now.
We are not for or against overseas buying, just as we are not for or against first home buying grants or for or against negative gearing. Our job is not to debate. We see our job as raising the issues and helping our clients find solutions. We are buyer agents operating in the Top End marketplace.
We feel this best helps you, the buyer, consider your options now and into the future.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
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maljames-vHwm28JUAa

Strategies to compete with overseas buyers

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With the first five months of 2014 almost complete, it is worth noting that a large number of auction records have been broken in the Melbourne.
<ul>
<li>Highest volume of auctions ever</li>
</ul>
Taking into account the expected auctions this week there have been around 16,236 auctions already held this year which is 30% more than the previous high in 2010.
<ul>
<li>Most 1,000 plus weeks ever</li>
</ul>
Once the planned auctions scheduled for this week are held, there will have been 10 weeks in the year when the volume has exceeded 1,000. This is more than three times the record of three weeks in 2010.
<ul>
<li>Most consecutive weeks over 1,000</li>
</ul>
Never before has Melbourne seen two or even three consecutive weeks with over 1,000 auctions before June.
<ul>
<li>Single week record for auctions prior to June</li>
</ul>
Melbourne has broken the 1,294 auction recorded three times this year including the peak of 1,530 in the week ending on 13 April.
<ul>
<li>Most homes sold by auction prior to June</li>
</ul>
Even if there are no homes sold at auction this week, the number sold by auction will have been reached a record high. The previous record of 9,758 from 2010 will probably be exceeded by around 1,000.
These records are impressive as they show a healthy market but they don’t mean that it has been just a sellers market. Around one third of homes offered at auction have been passed in as the vendors expectations have not been matched by the market on the day.
Photo courtesy of Beau Giles/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Melbourne auction market setting records

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Avondale Hall, marketed as one of Armadale's most beautiful homes, fetched $4.9 million at weekend Jellis Craig auction.
T<a href="https://www.jelliscraigbm.com.au/property/ARMADALE-15-Avondale-Road/7038611/#.U4HiIFxK7u0" target="_blank">he 1911 classic Queen Anne Revival home</a> comes with a combination of elegant and contemporary finishes.
There are five upstairs bedrooms.
The 800 square metre Avondale Road holding last traded at around $1.5 million in 1998.
<a href="/developments/armadale-vic-3143">Armadale</a>'s median house price sits at $1,627,500, according to RP Data, down on the $1,755,000 peaks in 2011.
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Armadale's 1911 Avondale Hall sells at $4.9 million

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A preliminary auction clearance rate of 66.1% was recorded this week across capital cities compared to 66.6% last week and 67.1% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3266" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Capital-city-580x425.jpg" alt="RP Data national auction comments - Capital city" width="580" height="425"></a>
Demand from buyers was clearly sufficient to ensure that the clearance rate was largely unaffected by the substantial 61% rise in homes on offer at auction compared to this time a year ago.
In the Sydney market demand strengthened with a preliminary clearance rate of 76.2% recorded compared to 69.9% last week. Buyers have welcomed the increased choice this week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3267" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Sydney-580x383.jpg" alt="RP Data national auction comments, Sydney" width="580" height="383"></a>
In Melbourne demand and supply continue to be well balanced with a preliminary clearance rate of 61.7% recorded compared to 68.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3268" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Melbourne-580x376.jpg" alt="RP Data national auction comments, Melbourne" width="580" height="376"></a>
In Brisbane a preliminary clearance rate of 49.5% was recorded compared to 46.5% last week. Adelaide recorded a clearance rate of 67.2% compared to 63.8% last week. In Canberra a clearance rate of 50.9% was recorded and in Perth there was a clearance rate of 45.2%. In Tasmania there was two sales from four results.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3269" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Brisbane-580x380.jpg" alt="RP Data national auction comments, Brisbane" width="580" height="380"> </a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3270" src="https://blog.rpdata.com/wp-content/uploads/2014/05/20140525-Adelaide-580x382.jpg" alt="RP Data national auction comments, Adelaide" width="580" height="382"></a>
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Volumes rise and demand increases across capital cities: RP Data's national auction market wrap

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More than 200 visitors attended an auction for GJ Variety’s Freedom House in Bomaderry on Saturday – a property that was up for sale to help provide a donation to the children’s charity Variety. 
The sale price for the four-bedroom home, of $430,000, will see more than $200,000 go to the charity.
Eighty plus local tradespeople and building suppliers got behind the project, donating time and materials, to build on the Variety block – that had already been provided at a discounted price by local Macdonald family.
The buyers were a couple from Cambewarra, Nathan Smith and Mel Irwin, who said they had been looking for a place “for ages”.
“It was brand new and beautiful and ticked all of our boxes. We are really happy with the price we paid and knowing that the money we’ve spent will also go to Variety to help kids in need, has made buying our first home all the more special,” said Irwin.
It is open plan, with mountain views and a 5.5 star energy rating, and located at 9 Banool Circuit, <a href="/news">Bomaderry</a>, where the median house price is $275,000, according to RP Data.
Construction on the property began on November 1, 2013.
G.J. Gardner Homes Shoalhaven director, Nathan Fay, said that a lot of thought when into every aspect to help maximize the amount of money raised at auction.
“It is located in the elite Meroo Views Estate and has stunning panoramic views across beautiful rural surrounds. Without compromising convenient proximity to Nowra town centre, this house offers family country living at its best,” Fay said.
A number of other similar projects have been planned, with <a href="/expert-insights/buying/bomaderry-house-auction-to-raise-money-for-children-s-charity-variety">hopes for the auctions to raise over $1 million for Variety</a>.
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