<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>


Joel Robinson

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

<main data-perf-region="main">
<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>

<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

<p>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.</p>

<p>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.</p>

<p>Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374005]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374010]</p>

<p>Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.</p>

<p>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.</p>

<p>“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.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374002]</p>

<p>“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.”</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=150999]</p>


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">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.</p>

<p data-end="717" data-start="537">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.</p>

<p data-end="918" data-start="719">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.</p>

<p data-end="1131" data-start="920">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.</p>

<p data-end="1131" data-start="920"><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" /></p>

<p data-end="1318" data-start="1133">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.</p>

<p data-end="1433" data-start="1320">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.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">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.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><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" /></p>

<p data-end="2191" data-start="2013">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.</p>

<p data-end="2365" data-start="2193">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.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“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.”</p>

<p data-end="2943" data-start="2777">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.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.</p>

<p>While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;</p>

<p>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>.</p>


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

Bubble

<html><body>
<p>Dwelling prices sit around 33% higher than the last peak, but is that a Sydney-wide boom or indeed bubble?</p>
<p>The catchup growth in the past year has been at around 15%, but over the past decade at 5% annually, which was exceeded by Darwin (7.4%), Melbourne (6.4%) and Perth (6%).</p>
<p>There is no doubting many sales in many suburbs are seriously overpriced. I would call them bubble prices. There was a Maroubra sale where with a coat of paint difference a <span style="line-height: 1.3em;">$1.46 million sale of a</span><span style="line-height: 1.3em;"> two bedroom semi on 310 square metres had last sold at $1 million in March 2013<span style="line-height: 1.3em;">.</span></span></p>
<p>I couldn't spot the $460,000 difference. </p>
<p>The silly prices could easily result in any exit - perhaps even over as long as the next decade - in tears given some buyers are seriously over paying currently.</p>
<p>If they want to keep it has their longtime, forever family home, the exuberance won't be as apparent longterm as if they were investing in a reckless pursuit of yield, frustrated by what returns they can get elsewhere.</p>
<p>Rental markets are softer, and looming construction supply will see further softening.</p>
<p>But it should be noted there are home sales and market segments where the market is yet to bounce to any significant extent - especially prestige homes where Chinese buyers are absent and from the indulgent coastal beach home market unless Justin Hemmes is present.</p>
<p>Title Tattle turned up to a recent weekend Queen Street Woollahra auction - where the only bid came from the McGrath auctioneer Scott Kennedy Green.</p>
<p>He had tried to get $7.5 million plus interest, and passed it in on a $7.2 million vendor bid. The sandstone, semi-detached <span>1867 Victorian terrace set on a 417 sqm parcel close to the Woollahra Village featured in the Willem Rethmeier and Jenne Reed Burns 2000 book, Private Sydney after Elizabeth Wadsworth's renovation. Elizabeth Wadsworth popped into the auction from next-door where she has wanted $8 million plus for her 1850s terrace, St Aubyn since last year.</span></p>
<p>Not one attendee at the 188 Queen Street auction of apparent Asian descent, either fourth generational or fly in. </p>
<p>They are all busy buying up in the re-emerging Bellevue Hill and Double Bay. Eventually disappointed underbidders from these adjoining suburbs will help underpin the Woollahra recovery, but not yet.</p>
<p>Last month Title Tattle reported the mining heiress Sarah Louise Fudge sold Spicer House, Woollahra for $5.5 million.</p>
<p>Her landmark home in Woollahra was listed $5 million plus hopes given her relocation to Hollywood. </p>
<p>The 1886-era residence Spicer House traded in May 2011 for $5.5 million<span style="line-height: 1.3em;">.</span></p>
<p><span style="line-height: 1.3em;">Remember the former tennis champion Pat Rafter sold his Woollahra terrace for $2.4 million late last year.</span></p>
<p><span style="line-height: 1.3em;">The Wallis Street</span><span style="line-height: 1.3em;"> contemporary three-bedroom terrace</span><span style="line-height: 1.3em;"> cost $2.35 million in 2007, so price growth didn't cover the stamp duty over the seven year period.</span></p>
<p><span style="line-height: 1.3em;">The Noosa-based </span><span style="line-height: 1.3em;">sportsman would have been wiser retaining</span><span style="line-height: 1.3em;"> his Sydney home on Hopetoun Avenue, Mosman which was sold in 2007 for $7.75 million. Onthehouse website cautiously suggests that Mosman home could be worth $10.6 million now.</span></p>
<p><span style="line-height: 1.3em;">But Chinese interest in Mosman is light compared to say Epping.</span></p>
<p><span style="line-height: 1.3em;">Last month 10 Hermington Street, Epping sold at $1.1 million, some $70,000 over reserve, which shows to me that over the top sale prices are in decline. But the auction was significant as there were 17 registered bidders, 11 of whom took part.</span></p>
<p><span style="line-height: 1.3em;">Low </span>interest rates have encouraged many more buyers into the market, and as long as rates stay low, not withstanding APRA's macropridential attempts, local buyers will try their luck.</p>
<p>And if the RBA succeeds in being the dollar down, then foreign buyers and expats will underpin the market. </p>
<p><span style="line-height: 1.3em;">Of course once rates rise then it will be regrets for many, despite the banks saying everyone is ahead of their repayments and that they are ensuring loans are being processed with anticipated higher debt borrower capabilities.   </span></p>
</body></html>

jchancellor-FAypfDUnLy

Woollahra heads the suburbs the 2015 boom has bypassed

<html><body>
<p>When considering the current surge in Sydney and Melbourne home values, it is worthwhile revisiting how strong conditions were during the housing boom of 2001 through to 2004.</p>
<p>Although the rate of capital growth in Sydney and to a lesser degree Melbourne is strong it is nowhere near as strong as the rapid home value growth recorded between 2001 and 2004.</p>
<p>At the beginning of 2001 the rate of growth in home values began to accelerate.</p>
<p>The pick-up in value growth began in Sydney and Melbourne and then flowed through to the other capital cities. A major difference between the post-2000 growth phase and the current growth phase is that the post-2000 phase was not preceded by falls in home values.</p>
<p>Another major difference is of course that the growth post-2000 was broad-based whereas the current growth in home values has been narrow, largely focussed on Sydney and Melbourne.</p>
<p>Finally household debt levels were substantially lower in 2001 than they are now, which is likely another major contributor to the stronger increase in home values then compared to now.</p>
<p>The previous growth phase is widely accepted to have commenced at the end of 2000 however, the commencement of the current rises in values has varied across each city.</p>
<h3>Sydney</h3>
<p>Home values began rising from May-12 and have increased by 38.8%, over the same period post-2000 they had risen by 60.2%.</p>
<p align="center"><strong>Sydney value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-sydney.jpg"></p>
<p> </p>
<h3>Melbourne</h3>
<p>Home values began rising from May-12 and have increased by 23.6% compared to 58.0% over the same period post-2000.</p>
<p align="center"><strong>Melbourne value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-melbourne.jpg"></p>
<p> </p>
<h3>Brisbane</h3>
<p>Home values reached a low point in May-12 and have since increased by 10.9%, in comparison home values had increased by 91.5% over the same timeframe post-2000.</p>
<p align="center"><strong>Brisbane value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-brisbane.jpg"></p>
<p> </p>
<h3>Adelaide</h3>
<p>Home values reached a recent low point in Mar-12 and have since increased 7.0%, in the post-2000 growth phase values had increased by 74.6% over the same timeframe.</p>
<p align="center"><strong>Adelaide value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-adelaide.jpg"></p>
<p> </p>
<h3>Perth</h3>
<p>Home values started rising from Oct-11 and have risen by 14.5% to Apr-14, over the same timeframe post-2000 home values had increased by 55.4%.</p>
<p align="center"><strong>Perth value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-perth.jpg"></p>
<p> </p>
<h3>Hobart</h3>
<p>Home values reached a low point in Nov-13 and have increased by 8.9% compared to a 16.7% increase over the same timeframe after 2000.</p>
<p align="center"><strong>Hobart value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-hobart.jpg"></p>
<p> </p>
<h3>Darwin</h3>
<p>Home values hit a low point in Jan-12 and have since risen by 17.3%, over the same timeframe post-2000 home values in the city rose 22.1%.</p>
<p align="center"><strong>Darwin value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-darwin.jpg"></p>
<p> </p>
<h3>Canberra</h3>
<p>Home values have been rising since the end of Jan-12 and have increased by 8.5% compared to 96.3% over the same timeframe post-2000.</p>
<p align="center"><strong>Canberra value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-canberra.jpg"></p>
<p><br><br></p>
<p>The data shows that Sydney and Melbourne are the stand-out cities for capital growth currently. More importantly, the rate of capital growth over recent years across each capital city is significantly lower than over the same timeframe from 2001 onwards. In fact, Hobart and Darwin are the only capital cities in which the post-2000 level of capital growth is even close to the current level of capital growth. </p>
<p> </p>
<p>Article by Cameron Kusher, CoreLogic RP Data senior research analyst.</p>
</body></html>

ckusher-ujnxiKuFQs

Is this a house price boom? Comparing the 2015 with 2001 to 2004: Cameron Kusher

<html><body>
<p><span style="line-height: 1.3em;">Sydney is one of the most resilient property markets in the world, so estate agent John McGrath says</span><span style="line-height: 1.3em;"> buyers and sellers need to ignore the bubble commentary. </span></p>
<p><span style="line-height: 1.3em;">"Sydney has proven itself over and over again to be one of the most resilient property markets in the world, </span>with<span style="line-height: 1.3em;"> long-term fundamentals that form a bedrock of strength for the market." </span></p>
<p class="p4"><span style="line-height: 1.3em;">But he says the boom is definitely going to end at some point. </span></p>
<p>"That doesn’t mean price growth will end, it will continue on but in a less spectacular fashion."</p>
<p>He told the Today Show's Lisa Wilkinson that the Sydney market still had "a few percent to go."</p>
<p>"The Sydney and Melbourne markets are red hot…probably close to where they are going to go in this cycle.</p>
<p>"I think we are close to the top of the market.</p>
<p>"Don't panic, don't over stretch your budget," he advised.</p>
<p>When asked what will take Sydney out of the boom? He listed a few things on <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/why-sydney-prices-wont-fall/" target="_blank">his switzer blog</a>.</p>
<ul>
<li>The market will at some point reach a natural peak – prices will get too high and buyers will lose interest. This isn’t happening yet, partly because finance is so cheap.</li>
<li>Investor activity, which has been a major driver of Sydney’s boom, will taper off as yields become too low.</li>
<li>Interest rates will begin rising at some stage as the economy improves and this will put the brakes on activity – but this is a long way off. </li>
</ul>
<p><span style="line-height: 1.3em;">"It’s a bit unusual to have such a long stretch of significant price rises," he </span>conceeds.</p>
<p><span style="line-height: 1.3em;">"But it doesn’t mean a calamity awaits us. </span></p>
<p><span style="line-height: 1.3em;">"A big part of the growth we’re experiencing today is simply catch-up after several years of little growth. </span></p>
<p class="p5">"Everyone needs to calm down and remember that this is a solid, high performing property market in a truly international business hub and in my opinion, it is going to stay that way for a long time to come. </p>
<p class="p4">He says a big fundamental is that Sydney is vastly undersupplied with natural borders that limit the amount of new homes that can be built, yet demand keeps on rising due to the city’s strong population growth and increasing engagement from overseas buyers. </p>
</body></html>

No calamity coming: Why Sydney still has price growth in 2015: John McGrath

<html><body>
<p><span>Talk in the industry is about whether or not house prices are in a bubble, if so have we been in one for some time and is it expensive bubble or a seriously expensive one?</span></p>
<p><span>One quote I read recently in relation to the current housing market was "One thing seems clear: If we’re having a discussion about whether or not house prices are in a bubble (as we have been for some time now), house prices do not represent good value at the current level. The debate is about whether they are expensive, or seriously expensive."</span></p>
<p><span style="line-height: 1.3em;">Now, of course we're all guilty of making sweeping comments - and myself more than most given my tendency towards a macro focus on this blog - but this snippet gives the full broom treatment to Australia's property markets.</span></p>
<p><span style="line-height: 1.3em;">The last time I checked in at the back end of 2014 there were 9,448,300 dwellings in Australia, a figure that will be approaching 9.5 million or so today. </span><span style="line-height: 1.3em; font-weight: bold;"> </span></p>
<div id="post-body-4846812275271867441" class="post-body entry-content">
<div><img src="/images/2015/05/22/Waregent1.jpg" alt=""></div>
<div> </div>
<div><span style="line-height: 1.3em;">Are some of those dwellings expensive? Indeed, and some of them are extraordinarily so in the present and persistent low interest rate climate.</span></div>
<div>
<div> </div>
<div>But equally, aren't some house prices very cheap? Very much so - in outer suburban Adelaide and Hobart, for example, and in any number of regional centres - although of course, "cheap" does not been good value ("cheap today is cheap tomorrow" as the old real estate mantra goes).</div>
<div> </div>
<div>The same holds true of share prices and indices, for that matter.<br><br>Are some share indices and stocks trading at high valuations? Yes. In fact, globally some markets are romping ahead to dizzying heights as I looked at only earlier this week.</div>
<div> </div>
<div>That does not mean that some individual stocks don't offer great value, though, particularly for those investors with the requisite skills in fundamental analysis.<br><br>With the benefit of hindsight, although not my favourite sector due to being capital intensive and reliant on the sale of commodities, 1999 was a great time to buy resources stocks. 2009 was an amazing time to load up on bank shares.  Today, health care and materials companies are worthy of consideration.</div>
<div> </div>
<div><img src="/images/2015/05/22/wargent2.gif" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>Of course, this doesn't mean all companies in a sector are worth buying, or even any of them. There is no "one size fits all."</div>
<div> </div>
<div><strong>Focus</strong></div>
<div> </div>
<div>This was one of a raft of pieces of late referencing popping property bubbles, property speculators, the end of the property boom, shares now being due to outperform property, and so on.</div>
<div> </div>
<div> </div>
<div><img src="/images/2015/05/22/monty.jpg" alt=""></div>
<div> </div>
<div> </div>
<div> </div>
<div><img src="/images/2015/05/22/monty2.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>All fair enough, although the truth is that ex-Sydney (and to a lesser extent Melbourne) there hasn't actually been a property boom to date in this cycle, rather a protracted period of relatively flat prices in real terms, and correspondingly there is no "Australian property bubble".<br><br>Resources influenced Perth and Darwin are seeing declining rents, the polar opposite of frothy conditions, while a number of mining towns have already capitulated. Canberra's property markets seem similarly uninspired.</div>
<div> </div>
<div>Why so much angst from equities-only investors then, one wonders, apart from the wider ramifications for the Australian economy and share markets of a genuine and material property correction?</div>
<br><div>An obvious point from a fundie perspective is that more funds under management equals more fees, so naturally enough does make sense to point out from time to time the benefits of a diversified share portfolio over the risks of holding a specific investment property or portfolio of properties.<br><br>I'm not sure whether it makes a great deal of difference, though. In my experience there exists a fair proportion of investors who are simply "shares people" or "real estate" people, and they won't ever be budged either way!<br><br><strong>Stock valuations decline</strong>
</div>
<div> </div>
<div>Perhaps another of the reasons for the angst is that the Australian share markets (generally!) have been on the receiving end of a bit of a shellacking over the past month, which naturally the financial media reports unfailingly on a daily basis.</div>
<br><div>Since threatening to crunch through 6,000 on March 18 the market has tanked, paring all the way back down to 5,600.<br><br>6,000 now seems like a distant dream once again, although the recent dovish Board Minutes from the Reserve Bank reinstated a moderate easing bias, which may help to fire markets up again.</div>
<div> </div>
<div>Now as intelligent people both you and I know that such short term movements don't mean a great deal for stock market investors with a long term mindset.<br><br>In fact, cheaper market prices equates to a greater array of buying opportunities for those with an appropriately disciplined investment approach.</div>
<div> </div>
<div>But it's funny what daily media headlines can do to folk, particularly when Sydney house prices are suddenly once again rising at an annualised pace of somewhere north of 15%. </div>
<div> </div>
<div>The XJO (ASX 200) chart shows that this index has pulled back to the same level as the beginning of March 2007, well over eight years ago.</div>
<div> </div>
<div><img src="/images/2015/05/22/ASX.jpg" alt=""></div>
<div> </div>
<div>
<div>While experienced investors are well aware that accumulated returns inclusive of dividends have been robust, a good proportion of Mum and Dad investors tend to like to see capital gains, preferably of the fast buck variety.<br><br><strong>Sydney property leads cycle</strong>
</div>
<div> </div>
<div>What seemed to be a highly unlikely outcome for much of the past decade is now once again becoming a reality - Sydney houses selling for double what they did during their last cyclical low around 2005.</div>
<div> </div>
<div>Granted I have only come across a few such examples to date, all of them houses rather than apartments, and usually in popular beachside suburbs such as Bondi, but I expect this will become an increasingly common occurrence over the year ahead.</div>
<div>
<br>Of course, the main advantage that property investors have over share market investors is the use of leverage which can magnify gains...and losses.</div>
<div> </div>
<div>An investment which doubles in value can see the dollars invested increased 10 or 20 fold before transaction and holding costs - for those who get it right and are prepared to hold through the lean periods of the cycle.</div>
<div>
<br>Dare we even mention it, some folk even used 100 per cent leverage in the period leading up the the financial crisis, making the returns on "investment" extraordinarily high.<br><br><strong>Risks to the downside</strong>
</div>
<div> </div>
<div>There is an old saying in investment that if something sounds too good to be true then it probably is.<br><br>So, what's the catch? </div>
<div> </div>
<div>One such catch is that most people just aren't very good at investing in property. The stats show that most don't achieve their goals, owning only one or two properties, with many selling within the first early years of ownership.</div>
<div> </div>
<div>It's not always entirely their fault, mind - property advisers have recommended some desperate choices over the last decade, including mining towns and any number of far-flung locations which haven't fared anything like as well as Sydney has. </div>
<div> </div>
<div>It was popular for a while to say that capital city investors were singing the same old tune from years ago and had failed to move with the times, though I haven't heard anyone saying that of late as the Sydney market continues to take off.<br><br>Inner ring Brisbane is now seeing prices rising again too, though not for all property types and suburbs it must be said, and I believe that generic apartments will struggle through this cycle.</div>
<div> </div>
<div><strong>Spruikfest</strong></div>
<br><div>You only had to set foot in the <em>Sydney Homebuyer Show</em> this year to see that the property forum was packed to the rafters with the flocking crowds far outweighing the numbers at the share trading and investing event.</div>
<div> </div>
<div>This is what always happens when house prices are rising, of course.</div>
<div> </div>
<div>Unfortunately so too were the self managed superannuation fund (SMSF) property spruikers out in force, barking orders about setting up trust structures to buy property to anyone who would listen - and anyone who wasn't listening as well, come to think of it.</div>
<div> </div>
<div>The thing to remember is that property and shares are not really directly comparable investments for any number of reasons which I don't have the space or inclination to repeat here.</div>
<div> </div>
<div>Equities are a far "cleaner" and more liquid asset class, very well suited to retirees of the right mindset contrary to popular opinion, particularly given the favourable tax treatment of franked dividend income in Australia.<br><br>No tenants or related headaches. No repairs and maintenance bills, Quick and easy to sell parcels of shares. </div>
<div> </div>
<div>Property investment suits many long term Mum and Dad investors, despite its illiquidity, and the leverage can see them magnify gains (or losses) at a greater rate, provided they invest well (or badly).</div>
<div> </div>
<div>For reasons I never really got my head around some property advisers have recommended investing in towns where there is acres of land around and thus no scarcity. </div>
<div> </div>
<div>The key to long term successful property investment is finding an asset which is in extremely high demand.<br><br>This generally means the larger capital cities, near jobs and where people want and need to live - and is scarce in supply, which ideally means a dwelling with a land value content, and in a land-locked suburban location.<br><br>The long run data shows that even most average capital city property has generally done well through the cycles, beating inflation over time.<br><br>It won't be long before the Sydney median house price has doubled again since 2003, soon thereafter to be threatening the $1 million level.</div>
<div> </div>
<div><img src="/images/2015/05/22/Property.jpg" alt=""></div>
<div> </div>
<div>
<p><em><span>PETE WARGENT </span>is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em></p>
<p><em>His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.</em></p>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

pwargent-M4siyDbqQY

Blowing bubbles (again): Pete Wargent

<html><body>
<p><span style="line-height: 1.3em;">Sydney p</span><span style="line-height: 1.3em;">urchasers need to be very careful, because at some point there has to be some correction, </span><span style="line-height: 1.3em;">HSBC Australia chief economist Paul Bloxham has again warned.</span></p>
<p><span style="line-height: 1.3em;">"Sydney house prices are running at an unsustainable pace," he told AAP.</span></p>
<p><span style="line-height: 1.3em;">Following recent strong gains that are set to continue, HSBC is forecasting Sydney house prices will be broadly flat in 2016, though not experiencing a big fall.</span></p>
<p>"The more Sydney house prices go up, the more likely it is that they will have to correct, and that's not necessarily a bubble," the former RBA economist said.</p>
<p>Earlier this year, after the February rate cute, he noted he was <span style="line-height: 1.3em;">worried about the Sydney property market.</span></p>
<p>Speaking at the Australian Mortgage Innovation Summit, HSBC’s chief economist, Paul Bloxham, said the only housing market that the RBA and APRA needed to be cautious of was Sydney. <br><br>"In Sydney, this is going to be quite a challenge.</p>
<p>"The rest of the market doesn’t look over inflated. </p>
<p>"I don’t think there is a housing bubble in Australia. </p>
<p>"I think that if Sydney sees the same trends as we have seen over the last year or two, that is house prices is running at an annual inflation rate of 13% year on year, then if that continues for very much longer than you will need to see prices at some point will come down.”</p>
<p>The summit was hosted by Asia-Pacific Banking &amp; Finance.</p>
<p> </p>
</body></html>

Not necessarily a bubble: HSBC's Paul Bloxham on Sydney house prices

<html><body>
<p>The <em>Australian Financial Review</em> columnist Chris Joye has suggested "the Reserve Bank of Australia's governor Glenn Stevens is trying to unravel a <a href="https://www.britannica.com/EBchecked/topic/239059/Gordian-knot" target="_blank">Gordian knot</a> created by his institution's inconsistencies".</p>
<p>"The RBA is blowing the mother of all housing bubbles to deflate an overvalued exchange rate," Joye wrote today.</p>
<p>He said "it is replacing one asset pricing conundrum with another, arguably more dangerous, one" with "unprecedented monetary policy settings in the form of the cheapest borrowing rates in history to put downward pressure on the Aussie dollar".</p>
<p>Joye suggests "when the RBA cut rates in February it judged the local housing market was cooling".</p>
<p>"Much like it thought rate cuts in 2013 would not fuel an unsustainable housing boom that would force regulators to introduce macro-prudential rules to slow credit growth running at three times the rate of incomes," Joye wrote.</p>
<p>"On all these counts the RBA's forecasts have proven badly wrong.</p>
<p>"It has probably been blindsided by housing dynamics over the last couple of years because it has never confronted these conditions before.</p>
<p>"Back in 1991 the value of housing debt divided by disposable household incomes was just 35%.</p>
<p>"Today it is over 140% - beyond any previous peak.</p>
<p>"And climbing every day."</p>
</body></html>

"RBA is blowing the mother of all housing bubbles": Chris Joye

<html><body>
<p>The buyers' agent Richard Wakelin has suggested the potential policy levers could be pulled that could be used to temper the Sydney property boom.</p>
<p>1) The NSW government could hike stamp duty.</p>
<p>2) The NSW government could reduce first-home buyer grants to dampen demand.</p>
<p>3) The supply of new property could be improved through reducing infrastructure charges levied on developers.</p>
<p>4) Government could heavily tax land-bankers, adopting a solution used in recent times by the Chinese government.</p>
<p>5) Councils could reduce the red tape around planning and redeployment of vacant sites.</p>
<p>6) Macro prudential policy could also be tailored such that banks have to observe tighter lending rules in Sydney than elsewhere in the country.</p>
<p>"Of course, many of these actions would be unpopular in certain quarters and others would have undesirable consequences," Richard Wakelin told The Australian Financial Review.</p>
<p>"For instance, a lax planning regime would likely exacerbate an acute issue.</p>
<p>"Moreover, to work, these policy prescriptions would require an as-yet unseen degree of coordination between the various levels of Australian governments.</p>
<p>"That is clearly unlikely, particularly in the lead-up to a NSW state election.</p>
<p>"But this more holistic approach is perhaps something for the future," he suggested.</p>
<p>{mijopolls 94}</p>
</body></html>

Six solutions to cool the Sydney property market boom

<html><body>
<p><span>Economist Paul Bloxham is worried about the Sydney property market.</span></p>
<p>Speaking at the Australian Mortgage Innovation Summit, HSBC’s chief economist, Paul Bloxham, said the only housing market that the RBA and APRA needed to be cautious of was Sydney. <br><br>"In Sydney, this is going to be quite a challenge.</p>
<p><span>"The rest of the market doesn’t look over inflated. </span></p>
<p><span>"I don’t think there is a housing bubble in Australia. </span></p>
<p><span>"I think that if Sydney sees the same trends as we have seen over the last year or two, that is house prices is running at an annual inflation rate of 13% year on year, then if that continues for very much longer than you will need to see prices at some point will come down.”</span></p>
<p><span>The summit was hosted by Asia-Pacific Banking &amp; Finance, and reported on by <a href="https://www.brokernews.com.au/news/breaking-news/economist-doubts-macroprudential-tools-will-cool-off-housing-197298.aspx" target="_blank">Australian Broker Online</a>.</span></p>
<p><span>Bloxham said the Reserve Bank should follow New Zealand's macro-prudential policies, in the form of LVR caps.<br><br>“Those tools were effective for a very short period of time, but then the RBNZ followed up with lifting interest rates,” he said. <br><br>“We had the RBNZ lift interest rates by 100bps last year between March and July. It was really probably that lift in interest rates that was the main thing that kept the housing market contained in the end.”</span></p>
</body></html>

No Australian housing bubble, but watch Sydney: HSBC's Paul Bloxham

<html><body><div>
<p>Craig James has raised the possibility another rate cut added to risks of a bubble developing in the housing market.</p>
<p>He doesn't make any conclusion while noting home prices are at record highs across Australia and annual price growth of 8% remains well above the long-term average growth rate of 4.8%.</p>
<p>"The strength of the housing market will clearly feature at the Reserve Bank Board meeting," he said today ahead of tomorrow's meeting.</p>
<p>He was also reacting to the CoreLogic RP Data Hedonic Australian Home Value index jump by 1.3% in January after lifting by 0.9% in December.</p>
<p>"Home prices are up by 8.0% on a year ago, after recording 7.9% annual growth to December," he said.</p>
<p>The index noted the most affordable 25% of capital city suburbs have recorded a gain of 7.3% in January compared to 8.8% across the middle 50% of suburbs and 7.9% across the most expensive 25%.</p>
</div></body></html>

Craig James says housing bubble concerns must be under RBA consideration

<html><body>
<p><span id="ctl00_ContentPlaceHolder1_lblNewsTitle" class="nItemTitle">Steve Keen,</span><span style="line-height: 1.3em;"> <span>head of economics, politics and history at </span>London’s Kingston University, envisages the RBA </span><span style="line-height: 1.3em;">making a couple of cuts this year - "and possibly more than that".</span></p>
<p><span style="line-height: 1.3em;">"The unemployment in Australia now is the worst it’s been in 10/15 years, and the only thing keeping it up is the housing bubble because that is pumping borrowed money into the economy, people are spending that money, and of course also foreign buyers pumping money and buying real estate," he told Lelde Smits from the <em><a href="https://www.finnewsnetwork.com.au/archives/finance_news_network108975?utm_source=Finance+News+Network%2C+FNN+Investor.&amp;utm_campaign=d8898229af-FNN_Investor_Daily_Afternoon_21_01_2015&amp;utm_medium=email&amp;utm_term=0_93a5b03408-d8898229af-137686745" target="_blank">Finance News Network</a> .</em></span></p>
<p><span style="line-height: 1.3em;">"<span>Those are really the only two massive inflow sources into the economy. </span></span></p>
<p><span style="line-height: 1.3em;"><span>"If the housing bubble pops then that inflow also stops and we therefore have a downturn driven by having finally a housing bubble bursting. </span></span></p>
<p>"So those dangers are there, you can see plenty of reasons for the cash flow spigot to be turned off, I can’t see many ways of turning it on anymore."<br> <br>He would be surprised to see it below the 2%, but wouldn’t be amazed.</p>
<p>He  suggests what he sees as the bubble could keep going, "but what it means is we are more and more fragile on the bubble continuing indefinitely".<br> <br>Asked for the catalyst for the property bubble to pop, Keen sees two things.</p>
<p>"Partly the economy itself slowing down so much that the negative returns in rental become excessive.</p>
<p>"Those people are having carrying costs and of course passing those carrying costs on to the Australian public through negative gearing, but they none the less have those carrying costs to handle.<br> <br>"And also, if there is anything going wrong in China.</p>
<p>"Things going wrong in China can go in both directions, we have a serious downturn in China, then it’s quite possible Chinese capital could respond by going offshore and do more buying overseas.</p>
<p>"So a slowdown in China, because it is a speculative slowdown, doesn’t have to mean a slowdown in demand for Australian real estate."</p>
</body></html>

Bubble

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Bubble

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News