<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

Home Sales

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<p>The future of real estate purchasing has long been forecast as digital.</p>
<p>But conducting home purchase transactions over the internet rather than face to face is still a rare occurrence.</p>
<p>We know over 95% of people use the internet and apps to do their property research but the emergence of <span class="il">online</span> auctions has never been widely embraced.</p>
<p>There are several <span class="il">online</span> platforms these days where buyers can bid on properties rather than turn up to an auction or estate agent's office to sign up the deal. These listings tend to be properties that were likely more suited to private treaty, so they get a fillip via their <span class="il">online</span> auction.</p>
<p>Being less frenetic, the <span>bush also seems to have taken to <span class="il">online</span> price per acre auctions of small farms.</span></p>
<div>Sydney's desired for a showy sale means there have been only the occasional <span class="il">online</span> auction offerings.</div>
<p>Back in 2000 Di Jones Real Estate used pioneering technology to allow the viewing of its auctions live on the internet, but it was without the capacity to accept bidding, in part because of inbuilt time delays.</p>
<p>Within a decade inroom auctions were periodically being run by the industry in parallel with an <span class="il">online</span> auction, opening up to people who could watch and make <span class="il">online</span> bids.</p>
<p>Around five years ago we saw pure <span class="il">online</span>-only property auctions - envisaged as eBay-like portals.</p>
<p>Dubbed as the logical transformative step, it was suggested it all was inevitable part of the <span class="il">online</span> transition in the 21st Century.</p>
<p><span class="il">Online</span> auctions had been a proven success in other sectors – such as clothes, cars and travel. </p>
<p>But it seems we are happy with the routine, structure and transparency of traditional property sales that have been relatively unchanged since the 18th Century.</p>
<p>Despite regulatory advancement, real estate agents - and the buying public - have been reluctant to adopt the innovative technology-enabled solution, preferring the face to face contact.</p>
<p>In 2015 a Lilyfield listing with $1.3 million plus hopes was auctioned <span class="il">online</span>. The three bedroom terrace secured 22 bids over a three day period from three bidders.</p>
<p>The winning bidder paid $1,618,000, well above the reserve price. The vendor was also the founder of an auction <span class="il">online</span> website.</p>
<p>The estate agency has since kept its preference for auctions on a Saturday morning.</p>
<p>There is good reason why Sydney's residential heartland loves their onsite 20 minute, pressure-cooker auctions.</p>
<p>Last month a three-bedroom home on Ocean Road Manly was sold by Clarke and Humel Property for $3.45 million.</p>
<p>There were the nine registered bidders until a dramatic pause when a 10th bidder stepped forward for registration having only inspected the offering minutes before. He was the buyer.</p>
<p>And two weeks earlier - also on Ocean Road - a jogger happened across an auction and successfully bid for the home.</p>
<p>Despite all the technological advancement, and our familiarity with it, I'd suggest the onsite ritual is irreplaceable.</p>
<p>This article first appeared in the Daily Telegraph.</p>
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jchancellor-FAypfDUnLy

Why suburban onsite house auctions trump online auctions

<html><body>
<p>Simone Warne-Callahan has listed her Brighton property.</p>
<p>It is a luxury Mediterranean-style house that the cricket legend’s former wife has called home for around three years.</p>
<p>Located on <a href="https://www.realestate.com.au/property-house-vic-brighton-125200042" target="_blank">Norwood Avenue</a>, the French-inspired house features French oak Driftwood flooring at the entrance that leads to a versatile study or sitting room as well as a relaxed lounge room.</p>
<p>It was bought in 2014 for $2.615 million and has since been renovated.</p>
<p>The living and dining area attracts light which also flows out towards the outdoor and into the vine-draped al fresco dining area with built-in BBQ.</p>
<p> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/20/12%20Norwood%20Avenue-2.jpg" alt=""></p>
<p>A remote-controlled garage features an air-conditioned bedroom with a skylit ensuite making it perfect for entertaining people.<br><br> Upstairs is the four bedrooms and three bathrooms that combines style and spaciousness while offering treetop vistas from all angles.</p>
<p>Main bedroom overlooks the pool along with neighbourhood views and bay glimpses. </p>
<p>Nick Johnstone stated that the private sale price for Atun, a five-bedroom, four-bathroom house with formal and informal living rooms, was about $4 million.</p>
<p>The property is offered through Nick Johnstone Real Estate agents Nick Johnstone and Simone Chin.</p>
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firstname1-iYD4UYzvBa

French-inspired Brighton house listed for sale

<html><body>
<p>Oscar award winning film director Vincent Ward has listed his long held Surry Hills home.</p>
<p>The New Zealand born film director, who won the award for What Dreams Come True starring the late Robin Williams, paid $254,000 for the 1890s terrace back in 1992.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-124871402" target="_blank">384 Bourke Street</a>, the three level, five bedroom home has been preserved, rather than renovated, over Ward's 25 year ownership.</p>
<p>Traditional double formal rooms come with marble fireplaces and there's an attic retreat with juliet balcony and rooftop deck.</p>
<p>The home goes to auction March 25 through Brigitte Blackman at Cobden &amp; Hayson Surry Hills.</p>
<p><em>This article first appeared in the Daily Telegraph.</em></p>
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Vincent Ward's Surry Hills home listed on the market

<html><body>
<p>The Melbourne house where 1980s singing actor heart-throb Rick Springfield spent a few formative years (above) sold at weekend auction for $1.13 million.</p>
<p>After competition between four bidders, Springfield’s Parkdale teenage years' home was secured by a young couple who saw the classic <a href="https://www.realestate.com.au/property-house-vic-parkdale-124558774" target="_blank">clinker brick home</a> for the first time on auction morning.</p>
<p>Buyers Wei Gu and his wife Jiegiong Zhan also only heard the Sydney-born rocker’s No. 1 hit Jessie's Girl for the first time when it was played prior to the auction.</p>
<p>The Hodges Mentone agent Mark Eddy said it was a great result.</p>
<p>"Rick and his brother Michael will be pleased that their mother’s home of many years has sold,” Eddy told the Herald Sun.</p>
<p>Domain Group chief economist Andrew Wilson told Domain the upbeat Melbourne auction market had passed another test, but a record super Saturday of auctions loomed next weekend, further testing the depth of buyer support. </p>
<p>Home sales across the nation ranged from $166,000 to $5.68 million at weekend auctions.</p>
<p>Both sales were in Victoria, with a likely Brighton knockdown selling at $580,000 above reserve (below) at an executor’s auction for $5.68 million. It was a 720 sqm <a href="https://www.realestate.com.au/sold/property-house-vic-brighton-124543926" target="_blank">St Ninians Road</a> offering.</p>
<p><img src="https://www.urban.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.13.43%20AM.png" alt=""></p>
<p>The cheapest was a one bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-vic-bacchus+marsh-124468598" target="_blank">Bacchus Marsh</a> (below), 57 kms out of Melbourne, which was sold for $166,000.</p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"><img src="https://www.urban.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.15.56%20AM.png" alt=""></span></p>
<p>It last sold at $101,000 in 2006, reflecting 4.7 percent annual growth for the Grant Street townhouse which was marketed as having an expected rental return of $190 to $210 per week.</p>
<p>A prime parkside home in Sydney's Chatswood (below) fetched $4,955,000, the second dearest result at auctions across Australia over the weekend.</p>
<p><img src="https://www.urban.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.17.40%20AM.png" alt=""></p>
<p>Located at <a href="https://www.realestate.com.au/property-house-nsw-chatswood-124569382" target="_blank">47 Stanley Street</a>, the property was marketed as "an ideal combination of prime positioning and powerful potential."</p>
<p>The solid five bedroom Federation home on a 925 sq m block was knocked down to an local Chinese owner occupier at about 15 per cent above its reserve.</p>
<p>The combined capital city weekend clearance rate remains in the high 70s, despite mid-February auction volumes reaching the highest level so far this year, according to CoreLogic's auction commentator Kevin Brogan.</p>
<p>The larger volume was driven by a substantial rise across the Sydney and Melbourne markets, while there was a small decrease across the smaller capital cities.</p>
<p>The strongest clearance rates, based on preliminary data, were in Sydney and Canberra, where 83 per cent and 81 per cent of auctions returned a successful result.</p>
<p>Canberra’s preliminary auction clearance rate of 81 percent was consistent with last week, and significantly higher than the 61 per cent recorded last year.</p>
<p>A 2011 Philip Leeson-designed <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/50-schlich-street-yarralumla-canberra/1317334380511" target="_blank">Yarralumla house</a> (below) sold for $2.4 million with Peter Blackshaw Manuka agent Mario Sanfrancesco signing up seven registered bidders.</p>
<p><img src="https://www.urban.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.19.08%20AM.png" alt=""></p>
<p>The Schlich Street block cost $861,000 in 2008.</p>
<p>Melbourne recorded a strong preliminary clearance rate, with 76 per cent of auctions clearing, just below the 77 per cent national average.</p>
<p>The preliminary combined capital city clearance rate was higher on the weekend than the 71 percent in same period last year.</p>
<p>The 2,280 auctions held was slightly lower as 2,347 auctions were held over the same time last year.</p>
<p>Across Melbourne, the 76 per cent clearance rate was up from 75 per cent last week and also higher than the 74 per cent over the same weekend last year.</p>
<p>Melbourne hosted around 1,100 auctions, around double the 556 held last weekend, and around the same seen one year ago.</p>
<p>This weekend in Melbourne, the number of properties for sale is expected to rise to 1400 with Domain's Dr Andrew Wilson suggesting the listings were big for February when auctions were usually only just starting to build up again.</p>
<p>Of the Melbourne sub-regions, the highest clearance rate was recorded across the North East region, with preliminary results showing 85.5 per cent of the 91 auctions were successful.</p>
<p>Sydney’s preliminary clearance rate this week was 83 per cent across 661 auction results.</p>
<p>There were a total of 844 auctions held across the city. Looking back at the same weekend last year, 800 auctions were held across Sydney and a clearance rate of 76 per cent was recorded.</p>
<p>The North Sydney and Hornsby region hosted the most auctions of any Sydney sub-region this week, with 137 properties taken to auction.</p>
<p>"It's another extraordinary result for Sydney," Domain chief economist Dr Andrew Wilson told Domain.</p>
<p>"Next week it could be even bigger with the number of property listings to rise about 30 per cent to 900."</p>
<p>Brisbane’s preliminary clearance rate was 50 per cent, down from 53 per cent last week.</p>
<p>There were 117 Brisbane auctions this week, compared to 131 last week.</p>
<p>Adelaide recorded a clearance rate of 68 per cent across 86 auctions this week, up from 66 per cent across 91 auctions last weekend.</p>
<p>Perth’s clearance rate of 36 per cent across 41 auctions was up from the previous week's 25 per cent.</p>
<p>Perth's highest sale was $2.1 million when a <a href="https://www.realestate.com.au/property-house-wa-mount+pleasant-124579946" target="_blank">Tudor-style Mount Pleasant riverfront</a> reserve home (below) sold with views of the Mount Henry Bridge on the Canning River.</p>
<p><span> </span></p>
<p><img src="https://www.urban.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.20.24%20AM.png" alt=""></p>
<p>It was the same price as its 2011 sale at $2.1 million.</p>
<p> </p>
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Rick Springfield's teen home sold at weekend auction

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<div>With <span id="0.5846416397337644">cricket</span> season spicing up our summer, Property Observer took a look at the best backyard <span id="0.864627114398903">cricket </span>pitches across Australia. Some have been sold and some are for sale.</div>
<div> </div>
<div>1. <a href="https://www.realestate.com.au/property-house-qld-millbank-120954850" target="_blank">31 Diamond Street, Millbank, QLD </a>(pictured above)</div>
<div> </div>
<div>Sitting on 4070 sqm is a beautiful <span id="0.7477409907410946">cricket</span> wicket which encourages the straight-drive with the pull shot not an option with the four man bay shed.</div>
<div> </div>
<div>The massive eight bedroom house sold for $440,000 through Hugh McKid of Location Property Agents.</div>
<div> </div>
<div>2. <a href="https://www.realestate.com.au/property-house-nsw-lavington-120939666" target="_blank">3 Abbott Drive, Lavington, NSW</a>
</div>
<div>
<br>Located on a 4,000 square metre block, the low maintenance grounds include a <span id="0.9365826007488334">cricket</span> pitch with rear access <span id="0.865291390582464">and </span>sprinkler system.</div>
<div> </div>
<div>The property has been listed for sale at $879,000 by Mark Rosevear <span id="0.8035429697799732">and</span> Clinton Harvey of Wodonga Real Estate.</div>
<div> </div>
<div>3. <a href="https://www.realestate.com.au/property-house-wa-sorrento-121403258" target="_blank">32 Ashmore Way, Sorrento, WA</a>
</div>
<div> </div>
<div>The property doesn't feature a wicket per se, but there is a long stretch of artificial grass for a bowlers run up <span id="0.23111241483064715">and</span> a small space for defensive shots.</div>
<div> </div>
<div>The five bedroom property sold at auction on December 28, 2015 for $1.55 million.  </div>
<div> </div>
<div>4. <a href="https://www.realestate.com.au/property-house-nsw-bowral-120699489" target="_blank">52 Thompson Street, Bowral, NSW</a>
</div>
<div> </div>
<div>This property makes the list simply because Bowral was the birth place of Australian legend Sir Donald Bradman.</div>
<div> </div>
<div>The southwest suburb of Sydney homed Bradman who would have relished the prospect of practicing on such a wicket in the 1900's when he was a child.</div>
<div> </div>
<div>The property was sold in November 2015 for $495,000 by Lewis Harelle of Ray White.</div>
<div> </div>
<div>5. <a href="https://www.realestate.com.au/property-house-qld-burbank-120726225" target="_blank">1190 Mt. Cotton Road, Burbank, QLD</a>
</div>
<div> </div>
<div>A full length concrete pitch on the 2.83 hectare land is met by nets so you don't have to continue to fetch the ball when you smash those sixes.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/03/1190%20Mount%20Cotton%20Road-2.jpg" alt=""></div>
<div> </div>
<div>Corrine Guterres sold the property for $1.85 million in October 2015. </div>
<div> </div>
<div>6. <a href="https://www.realestate.com.au/property-house-nsw-mosman-121076214" target="_blank">46 Somerset Street, Mosman, NSW</a>
</div>
<div> </div>
<div>The house lights up the small synthetic grass wicket where you can practice your defensive game with the netting behind making a wicket keeper unnecessary.</div>
<div> </div>
<div>The three bedroom home sold for $2.88 million in November 2015 through Bernard Ryan <span id="0.40113145342457823">and</span> Geoff Smith of LJ Hooker.</div>
<div> </div>
<div>7. <a href="https://www.realestate.com.au/property-house-vic-ivanhoe+east-115259503" target="_blank">27 Beauview Parade, Ivanhoe East, VIC</a>
</div>
<div> </div>
<div>The <span id="0.24167802212927514">cricket</span> wicket, accompanied by a putting green sold at auction for $1.83 million at the end of November 2013.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/03/27%20Beauview%20Parade.jpg" alt=""></div>
<div> </div>
<div>One for the bowlers, there's not much room to bat but some greenery behind the batsman will ensure the ball doesn't end up next door.</div>
<div> </div>
<div>8. <a href="https://www.realestate.com.au/property-house-qld-chandler-120339449" target="_blank">240 Charleton Street, Chandler, QLD</a>
</div>
<div> </div>
<div>Recently sold, the five bedroom family home has a wicket surrounded by an enclosed netting cage. </div>
<div> </div>
<div>James Curtain<span id="0.6298726376023127">and</span> David Taylor sold the property that traded for $2.185 in 2008 for $1.9 million in August 2016.</div>
<div> </div>
<div>9. <a href="https://www.realestate.com.au/property-house-nsw-mittagong-119914765" target="_blank">129 Bong Bong Road, Mittagong, NSW</a>
</div>
<div> </div>
<div>Environmentalist <span id="0.722907608035047">and</span> musician Peter Garrett's home sold for $2.8 million in April 2016 through listing agent John Renouf of Drew Lindsay Real Estate.</div>
<div> </div>
<div>The five bedroom home has a wicket perfect for a batsman to drive all day.</div>
<div> </div>
<div>10. <a href="https://www.realestate.com.au/property-house-wa-dianella-124048542" target="_blank">24 Ballarat Way Dianella, WA</a>
</div>
<div>
<br>The two storey family house sits on a big 809 square metre block <span id="0.44336702918232085">and</span> has a purpose built <span id="0.5319774684925738">cricket</span> pitch.</div>
<div> </div>
<div>The property has been listed for sale at $1.125 million by Mark <span id="0.26233092805553726">and</span> Debra Passmore of Passmore Real Estate. </div>
<div> </div>
<div>However the cricket pitch does not appeared to be photographed.</div>
<div> </div>
<div>11. <a href="https://www.realestate.com.au/property-house-qld-oxenford-124406430" target="_blank">27 California Drive, Oxenford, QLD</a>
</div>
<div> </div>
<div>The Oxenford home features lawns of just synthetic turf. </div>
<div> </div>
<div>Brambling Property Hendra selling agent Ann-Marie Warhurst told The Courier Mail the home was ticking a lot of boxes for families. </div>
<div> </div>
<div>The 1151sq m property is on the market for offers over $650,000.</div>
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Cricket pitches at home - 11 of the best pitches on offer

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<p>A record price for a waterfront property in Cabarita, located on the Parramatta River, has been linked to the development of the WestConnex motorway.</p>
<p>The contemporary double storey, waterfront home, located at 11 Collingwood Avenue was sold at auction by Ross Musso and Dib Chidiac of Raine &amp; Horne Concord for $5.413 million.</p>
<p>It smashed the previous suburb record by $413,000.</p>
<p>“The WestConnex is the largest ever urban transport project in NSW history and buyers are recognising that the infrastructure improvements will halve travel times to the Sydney CBD,” says Mr Chidiac.</p>
<p>The M4 Widening project involves converting the three lane M4 motorway from Parramatta to North Strathfield to four lanes. The M4 will be extended from Concord Road, North Strathfield to the City West Link at Haberfield via a 5.5km tunnel that will have three lanes in each direction under Parramatta Road (‘M4 East’).</p>
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j.ballantyne1990-6AQqhLzZaK

Agents suggest WestConnex helps smash Cabarita waterfront record

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<p>Capital city transaction levels have continued to trend lower according to CoreLogic's latest Economic and Housing update.</p>
<p>According to CoreLogic the slide began after 2013 from a peak of around 35,000 sales and continues downward.</p>
<p><a href="/images/2016/08/17/400_logic.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/08/17/400_logic.jpg" alt=""></p>
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Capital city transaction numbers trend lower: CoreLogic

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<p>GUEST OBSERVER</p>
<p>New home sales declined by 4.4 percent in May after falling by 4.7 percent in April. The decline reflected a fall in detached house sales (-6.7 percent) but sales of ‘multi-units’ rebounded (+4.9 percent).</p>
<p>The new home sales data is important for housing-dependent companies such as builders, developers and retailers.</p>
<p>What does it all mean?</p>
The latest weakness in new home sales resonates with all the other data on the housing sector - in particular the data on home loans, which has been decidedly more mixed in the past few months. It is clear that housing activity is consolidating with potential home buyers being more circumspect on purchases – a result which is encouraging, as it should ensure a much more sustainable housing market.</div>
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<br>Interestingly the data is for May and would not fully factor in the surprise decision by the Reserve Bank to cut the cash rate, and the subsequent decision by the banks to pass it on to mortgage rates. It is likely that the rate cut and the speculation of low interest rates over the medium term will support demand for property.</div>
<div class="column"> </div>
<div class="column">Importantly the pipeline of new home building remains solid and should support an array of sectors and broad- based activity. The latest data doesn’t have a great influence on the next interest rate decision. The Reserve Bank is determining whether lower-inflation Australia can justify having an interest rate structure closer to those in other major advanced economies.</div>
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<div class="column"><a href="/images/2016/06/29/Screen%20Shot%202016-06-29%20at%202.23.06%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/06/29/Screen%20Shot%202016-06-29%20at%202.23.06%20PM.png" alt=""></div>
<div class="column"> </div>
<div class="column">What do the figures show?</div>
<div class="column"> </div>
<div class="column">New home sales</div>
<div class="column">Total seasonally-adjusted new home sales declined by 4.4 percent in May 2016 after sliding by 4.7 percent in April. The decline in total sales was reflected in a decline detached house sales (-6.7 percent) but sales of ‘multi- units’ rebounded (+4.9 percent).<br><p>The Housing Industry Association reported: “In the month of May 2016 detached house sales declined in three of the five mainland states: New South Wales (-11.5 percent); Victoria (-8.2 percent); and Queensland (-11.0 percent). Detached house sales increased in South Australia (+3.8 percent) and in Western Australia (+5.4 percent).”</p>
<p>What is the importance of the economic data?</p>
<p><span></span><span>The </span><span>Housing Industry Association </span><span>releases data on the </span><span>sales of new homes </span><span>each month. The HIA collects the data each month from a sample of Australia's largest 100 home builders. </span></p>
<p><span>The survey covers around 14 percent of the home building industry.</span></p>
<p><span><em>Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></em></span></p>
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Back to back declines in new home sales: CommSec's Savanth Sebastian

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<p>With elections looming and negative gearing a big issue, predictions abound of a dip in home sales. So, what could we expect in the short term?</p>
<p>According to CoreLogic RP Data research analyst Cameron Kusher, market activity had slowed in 2016 relative to 2015.</p>
<p>"With housing looming as a large election issue given the proposed negative gearing changes from Labor I would expect things to be a little quieter in the lead-up to the election than they otherwise would have been," says Kusher.</p>
<p>"Interestingly, if Labor are elected you may find a surge in activity (whether that be buying or selling) post-election as owners look to beat out the negative gearing changes coming into effect in mid-2017. Of course any further changes to interest rates over the year could also have an impact."</p>
<p>On whether the proposed changes to negative gearing may make it difficult to sell investment properties and have other possible flow-on effects, Kusher had this suggestion for investors.</p>
<p>"Firstly they should make note of the election result. If the changes were to occur we would expect to see some jostling by investors to sell true investment-grade stock prior to the changes. As you note, the proposed changes are likely to be damaging to the resale value of true investment-grade housing stock."</p>
<p>He also dismissed suggestions that the changes to negative gearing could cause a recession.</p>
<p>"I don’t think a recession is likely from changes to negative gearing."</p>
<p>"The truth is no one really knows the impact until if or when the changes are made. Remember that at the end of 2013-14 only 9.7% of taxpayers were negatively geared so it is unlikely that impacting on such a small proportion of the population could cause a recession.</p>
<p>Kusher said the true impact was difficult to gauge till changes actually occur, but some "educated guesses" might be made:</p>
<ul>
<li>Before the changes a proportion of people will look to sell true investment grade stock prior to changes, conversely, some may also look to buy this stock if they have a plan to hold for the long-term</li>
<li>Post changes, investment grade stock will be less appealing to investors because NG is not available so it will impact on this product’s resale value</li>
<li>While the proposed changes look to funnel demand to new investment, remember new housing is often more expensive than existing so there is no guarantee that it would be a successful policy</li>
<li>Over time, we may see rental shortages appear due to less investment or in certain geographic areas where little new development takes place.</li>
</ul>
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Negative gearing changes won't cause recession: CoreLogic RP Data's Cameron Kusher

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<p>New home sales fell a more-than-expected 5.3 per cent in February 2016, according to a survey of Australia’s largest volume builders, says the latest report by the Housing Industry Association. </p>
<p>“This latest result is a larger than desirable fall,” said HIA chief economist Dr Harley Dale. “HIA New Home Sales are losing some of their lustre as a downward trend becomes more firmly entrenched.”</p>
<p>“While the monthly result is a soft one, there is no need to loudly ring alarm bells as often seems to automatically occur every time an economic update disappoints,” noted Dale in the New Home Sales Report.</p>
<p>Seasonally adjusted detached house sales fell by 3.9 per cent in February 2016, while the sale of ‘multi-units’ dropped by a sharper 10.6 per cent.</p>
<p>“New home sales are down, but far from out. Over the three months to February 2016, the sale of detached houses increased by 1.8 per cent. The sale of multi-units nudged up by 0.8 per cent over the same period.”</p>
<p>“What we need to keep a watchful eye on are the signals that will shortly begin to emerge for 2016/17 from key leading housing indicators like new home sales and building approvals,” concluded Dale. “Stage one of a down cycle in new home building will be moderate, but signs of a sharper contraction in subsequent stages may emerge as the year progresses.”</p>
<p>In February, detached house sales increased in by 1.7 per cent in Victoria and by 1.8 per cent in Western Australia though they fell by 7.4 per cent in New South Wales, by 12.1 per cent in Queensland, and 3.5 per cent in South Australia.</p>
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