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

Joel Robinson

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

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

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

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

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

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First-home buyers, both owner-occupiers and investors, were more active in new property markets in the March quarter (around one in three of all sales) but pulled back a little in established markets, according to NAB's Quarterly Australian Residential Property Survey Q1 2016.
FHBs (owner occupiers) increased their presence in new property markets in Q1’16, with their share of total demand rising to 19.1% nationally (18.3% in Q4), with these buyers more active in NSW (21.9%) and QLD (12.9%), the survey showed. The share of FHB (investors) also rose to 14.4% (10.9% in Q4) and increased in NSW (17.9%), QLD (16%) &amp; VIC (8.2%). In total, FHBs accounted for 33.5% of all new property demand in Q1’16 (29.2% in Q4).
Owner occupiers (net of FHBs) were less active in all states (except WA) with their share of national demand falling for new property falling to 27.6% (30.4% in Q4). In contrast, local investors (net of FHBs) were more active, accounting for 24% of new property demand (22.5% in Q4). They were particularly active in VIC where they accounted for 43.8% of total demand (25% in Q4). The share of foreign buyers in new property markets continued to recede, falling to 11.8% of total demand - its lowest level since mid-2014. Foreign buyers were notably less prominent in VIC (10.7%), NSW (11.1%) &amp; WA (2.9%), but played a bigger role in QLD (21.9% vs. 20.9% in Q4).
<img src="/images/2016/04/20/Screen%20Shot%202016-04-20%20at%203.44.11%20PM.png" alt="" width="494" height="289">
Expected demand for new property by type and location
Expectations for new property demand in the next year are stronger for most types of property and in all locations (except middle/outer ring high rise apartments) but weaker than year earlier levels, says the survey. Property professionals are anticipating “good” demand across the board, except for apartments located in the middle/outer ring (“fair”). By state, property professionals see “very good” demand for CBD apartments in NSW and for inner city low rise apartments and houses in QLD. In contrast, their expectations for all types of new property demand in WA are “fair” (except inner city houses). They are also anticipating “fair” demand for CBD and high rise apartments in the middle/outer ring and inner city VIC, and for low rise apartments in the middle/outer ring in NSW.
Constraints on new housing development
Housing affordability replaced tight credit as the biggest constraint for new housing development, particularly in VIC (“very significant”). Tight credit is the next biggest issue (especially in SA/NT), followed by sustainability of house price gains (mainly in VIC, NSW &amp; QLD) and construction costs (mostly in VIC &amp; SA/NT).
Established property
When it came to established property, the share of FHBs (owner occupiers) in established property markets fell to 17.6% in Q1’16 (20.2% in Q4), with these buyers less active in all states except QLD. FHBs (investors) were, however, more active in all states (except WA), with their market share falling to 8% (8.7% in Q4).
Owner occupiers (net of FHBs) accounted for 42.5% of total new property demand in Q1’16 (40.7% in Q4), with these buyers more active in all states except QLD. The share of local investors (net of FHBs) in the market also rose to 20.5% in Q1’16 (up from a Survey low 19.2% in Q4’15), with investors more active in all states except WA.
The share of foreign buyers fell to 7.2% in Q1’16 (8.6% in Q4). Moreover, these buyers were less prevalent in all states, except WA where they accounted for a survey high 8.8% of the market (7.2% in Q4). Elsewhere, their share of demand fell to 7.1% in VIC (8.6% in Q4), 7.8% in NSW (9.4% in Q4) and 6.7% in QLD (8.9% in Q4).
 
<img src="/images/2016/04/20/Screen%20Shot%202016-04-20%20at%203.48.17%20PM.png" alt="" width="549" height="315" style="font-size: 12.16px; line-height: 1.3em;">
Expected demand for established property by type and location
Expectations for established property demand over the next year are mixed, says the NAB survey. They are tipped to strengthen for houses and low and high rise apartments located in the middle/outer ring, but weaken for all other properties. Overall demand is however expected to be “good” for all types of property. By state, property professionals see “good” demand in NSW for most types of property, except inner city houses (“very good”). In VIC, “good” demand is expected for all property except CBD apartments and high rise apartments in the inner city and middle/outer ring. In QLD, demand is tipped to be “good” except for CBD apartments and middle/outer ring high rise apartments (“fair”).
Property professionals in WA anticipate “fair” demand for all types of established property in the next 12 months.
Constraints on established property
Property professionals continue to view employment security as the biggest impediment to buying existing property nationally and in most states (especially in WA &amp; SA/NT) but somewhat less than in Q4. Access to credit was again identified as the second biggest constraint, led by SA/NT. Property professionals also saw house price levels as a “significant” constraint (especially in NSW, VIC and SA/NT), and more so than in Q4. Concerns about rising interest rates have however receded and are now considered only “somewhat significant” in all states.
 
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jonathanchancellor-7SQnKwU6yx

FHBs increase their presence in new property markets in Q1 ’16: NAB 

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Sentiment among residential property professionals turned positive after three consecutive quarterly falls, led by Victoria though Western Australia was still falling, according to NAB’s Residential Property Index for the first quarter of 2016.
Meanwhile, foreign buyers are pulling back across most states except Queensland.
The NAB Residential Property Index rose to +6 in Q1’16 (+1 in Q4’15), but is still sitting below its long-term survey average (+13).
NAB expects average national house prices in 2016 to rise by 1.5%, with unit prices to fall 1%.
According to NAB Group Chief Economist Alan Oster: “The latest results continue to paint a very mixed picture across the country, with positive sentiment in the Eastern seaboard states offsetting negative results in all other states.”
Foreign buyers are shifting their focus to Queensland (more than one in five new sales). 
Overall, sentiment remains strongest in Victoria, which is also the only state tracking above its long-term average. Sentiment improved most in NSW in Q1 2016 and also lifted modestly in Queensland and SA/NT (but still negative). In contrast, it fell to a new survey low in WA which continues to trail the rest of the country by a considerable margin.
Survey expectations for national house price growth over the next year were broadly unchanged, but again there were notable differences across the states.
Expectations for price growth improved most in Victoria (1.7%) and are now highest in the country. They also improved in SA/NT, but remain quite weak (-0.1%). Expectations weakened a little in Queensland (1.2%) and were also revised down in NSW (-0.2%) and WA (1%).
Looking further out, house prices are expected to grow in most states in two years, with Victoria (1.6%) and Queensland (1.4%) leading the way, with small gains also forecast for WA (0.4%) and SA/NT (0.3%). NSW is the exception, with the survey predicting modest falls (-0.1%).
“At this point in the housing cycle, it is not clear whether the gains over first quarter of 2016 are pointing to an ongoing trend, or if it is simply a flash in the pan before the market peak, perhaps triggered by external factors,” said Oster.
Accordingly, NAB has marginally increased its average national house price forecast in 2016 to 1.5% (from 1%). Unit price forecasts are broadly unchanged, with large additions to supply expected to contribute to a decline of 1% over 2016.
By capital city, Brisbane and Melbourne are expected to be the best performers, with Brisbane house prices forecast to rise by 2.6% in 2016, while Melbourne increases 2.3%. Sydney house price growth is forecast to moderate significantly to just 1.5%. The Adelaide market is not expected to improve much in 2016 - an increase 0.2% roughly offsetting a similar fall in prices in 2015. Perth will remain very weak as prices decline by another 3%.
For apartments, flat to falling prices are expected across most capital cities. The worst declines are forecast to again be in Perth, as well as Melbourne (both -3%). The decline in Perth largely reflects economic conditions, while falls in Melbourne are expected as a result of added supply and weaker investor demand. Sydney unit prices will also be weaker (-0.6%), while Brisbane unit prices are expected to decline by a similar amount.
Another key take out from the survey is the smaller role being played by foreign buyers in Australia’s housing market.
“Their market share of property sales in both new and established housing markets has been falling since the final quarter of 2015, which also coincides with the introduction of tighter legislation around foreign purchases of Australian property,” said Oster.
In new property markets, the share of demand coming from foreign buyers fell to a 2½ year low of 11.8% and down from a survey high of 16.8% in Q3’14.
Moreover, the survey is highlighting a shift in foreign buyers away from Victoria and NSW to Queensland, perhaps in search of better value.
Foreign buyers in Victoria and NSW accounted for around one in 10 new property sales in the March quarter, but in Queensland they purchased more than one in five new properties.
Foreign buyers had previously accounted for around one in three new home sales in Victoria in late-2014 and around one in five sales in NSW in early-2015.
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prateek24-ezbwHMbNAk

Property sentiment lifts after three quarterly falls: NAB's Q1 survey

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The latest NAB Quarterly Australian Residential Property Survey found foreign buyers were less active in new residential property market acquistions, but had reputedly increased their presence in established markets, especially Victoria.
The percentage of foreign buyers in the new property market dropped from 15.6% to 12.8% in the latest quarter, according to the NAB survey that gathers feedback from property industry professionals on the current market.
NAB Group chief economist Alan Oster noted foreign buyers had increased their established home purchasing status, up from 7.5% to 8.6%.
Most foreigners buy newly built apartments and houses because of FIRB limits on non-Australian citizens buying established housing. Permanent Australian residents can, ofcourse, buy established houses and temporary residents can buy established houses too, but need to sell when they depart the country, under newly enforced FIRB regulations. 
Alan Oster suggested foreign buyers accounted for high sales volume especially in Victoria.
Units were favoured by foreign buyers, accounting for 16.1% of all apartment sales nationally in the second quarter.
Foreign buyers secured 28% of all new apartment purchases in Victoria and 16.5% in New South Wales. The July 1 Victorian Government tax on foreign buyers is likely to be behind some of the higher Victorian volumes coming in the weeks before its introduction.  
In Queensland they accounted for 13.1% of buyers and in Western Australia around 12.9%.
More than three quarters of foreign investors bought apartments valued at less than $1 million, with around 41% of those priced below $500,000.
More than 16% of all apartment sales were in the $1 million to $2 million price range.
Though NAB noted it was higher in New South Wales where foreign buyers were responsible for one in four purchases at that price and close to 12% at more than $2 million.
The figures are based on a National Australia Bank survey of 300 people working in areas such as real estate management, development and asset management.
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jchancellor-FAypfDUnLy

Foreign buyers securing 28% of all new apartment purchases in Victoria: NAB

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<div>NAB releases its June 2015 Business Survey which revealed some interesting results, with unemployment now expected to peak at 6.25% and other near term data strengthening.</div>
<div> </div>
<div>Business conditions trending higher moving up strongly from +5 to +11, the highest level since last October and well above the long run average.</div>
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<div><a href="/images/2015/07/15/Nab1.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/07/15/Nab1.jpg" alt=""></div>
<div>Business confidence is also back up to its post election peak, moving up nicely from +8 to +10, with the highest recording now to be found in retail (the lowest confidence, of course, is in mining):</div>
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<div><a href="/images/2015/07/15/Nab2.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/07/15/Nab2.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>And trading conditions booming:</div>
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<div><a href="/images/2015/07/15/Nab3.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/07/15/Nab3.jpg" alt=""></div>
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<div> </div>
<div>
<div>The forward orders index also rose from +2 to +5.</div>
<div> </div>
<div>Buffers</div>
<div> </div>
<div>On the other hand, consumer confidence has been ticked a little lower lately, which has led in turn to some remarkable loan "arrears" data.</div>
<div> </div>
<div>The average homeowner is now so far ahead on mortgage repayments that loans buffers are better measured in years than months. </div>
<div> </div>
<div>It's amazing how often this theme is recurrent with clients I speak to.</div>
 The full NAB survey can be found <a href="https://business.nab.com.au/wp-content/uploads/2015/07/NAB-Business-survey-June-15.pdf" target="_blank">here</a>.
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<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <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>.
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pwargent-M4siyDbqQY

NAB business survey - an upside surprise: Pete Wargent

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APRA’s crackdown on home lending has prompted NAB to advise tightening to its lending policies, effective 5pm on Friday 5 June 2015.
New variable rates will apply for investment loans, according to communication from NAB to mortgage brokers, obtained by Australian Broker.
The new changes will apply within National Australia Bank's third party mortgage distribution businesses, Advantedge and NAB Broker.
The new investor loan variable rates range from 4.53% to 4.96% depending on the loan amount and LVR. 
For investor loans of $250,000 to less than $500,000, with an LVR up to 90%, the variable rate will be 4.63%. 
For loans less than $250,000, with an LVR up to 90%, the new variable rate will be 4.83%. 
Effective Saturday 13 June 2015, the maximum LVR (including LMI capitalisation) for investment loans will be reduced to 90%. Also effective Saturday 13 June, a loading will be applied on existing mortgage repayments as part of the serviceability assessment. This applies to existing loans which are not being refinanced or paid out as part of the application.  The affordability rate used in the serviceability assessment will be also be amended, effective Saturday 13 June, to be the higher of 7.40% or 2.25% above the effective borrower rate. Currently a 7.40% affordability rate is used for all applications. 
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