<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

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

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

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

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Price Guides

<html><body>
The practice by unethical real estate agents to – ‘quote them low and watch it go’ could very well finally be a thing of the past – well in Queensland anyway (for starters). Governments from all political persuasions have struggled for decades to establish a best practice platform for the real estate industry.
Queensland is close to implementing the new legislation although they are struggling at the last hurdles given they are seeking that agents are not permitted to provide any price guides. The reforms have now been altered to permit agents providing a price guide on the internet.
This just keeps getting dumber and dumber given this whole process could be fixed so easily – all that’s required is for the vendors to publish their reserve price to all parties making inquiries. The prospective purchasers then make up their own minds as to what they believe the property is worth based on the published reserve price – a clean and transparent selling process.
I have always argued (successfully) that the difference between a good real estate agent and an average one is about 10% of the sale price. The difference by not quoting the agents price guide is that this figure is generally skewed to the attraction price as against the selling price which is exactly what should be the case in this day and age.
If a buyer wants to pursue a property at the vendor’s reserve price then all well and good. If on the other hand they construe that the expectations are too high then let the property run a reverse course – which is interesting as this then goes back to the respective agent’s negotiating skills. I’m not exactly sure what parts of this the agents don’t get as reserve price quoting will reward the agents with superior negotiating skills – which is exactly what vendors should be looking for.
There is a great role for public auctions in the real estate industry, just the system requires critiquing because rogue agents will always struggle with the truth. Watch this debate get very heated in coming weeks and months although rest assured there will be major changes across the board to the Australian property auction system.
Another fascinating week that had the “experts” (whatever they are) calling the end of the biggest Sydney property boom in a decade – what a load of rubbish!
To add some weight to these idiotic statements there are approximately 637 (and growing) suburbs that make-up Sydney. Yet in typical lackadaisical reporting fashion we read “dwelling values across Australia’s capital cities have recorded declines” – so they take the weighted averages over 637 suburbs in the case of Sydney to get an accurate positioning? Anyone applying this methodology is simply delusional as this in no way accurately defines real estate market trends – until such time as it is suburb by suburb this collective data is as useful as an ashtray on a motor bike.
<a href="https://www.rwm.com.au/files/2014/05/30-04-2014-1-59-49-PM.jpg"><img class="aligncenter size-full wp-image-8520" src="https://www.rwm.com.au/files/2014/05/30-04-2014-1-59-49-PM.jpg" alt="30-04-2014 1-59-49 PM" width="647" height="342"></a>
Source: Digital Finance Analytics
<a href="https://www.rwm.com.au/files/2014/05/30-04-2014-1-58-58-PM.jpg"><img class="aligncenter size-full wp-image-8521" src="https://www.rwm.com.au/files/2014/05/30-04-2014-1-58-58-PM.jpg" alt="30-04-2014 1-58-58 PM" width="664" height="361"></a>
Source: Digital Finance Analytics
The latest monthly banking statistics from APRA identify consistent lending to the end of March 2014. In February owner-occupied and investment loans were $1.231 billion and in March they came in at $1.236 billion. The ‘Big Four’ increased their market share from 84.3% to 84.4% which will have many suggesting that should there be a correction they will be in all sorts of bother.
What I would like to see is a graph showing where their respective loans were as we should remember during the global financial crisis (GFC) Mosman was tipped as having the highest delinquency rate in Australia where it was later proved it had the lowest.
As they say, be careful about calling yourself an expert. An ex is a has–been and a spurt is a drip under pressure. For some, it’s human nature to predict/promote themselves as some type of modern day Nostradamus who quite remarkably possess this innate ability to read the future.
Recently we read that in America, Dr Marc Faber is predicting that this year we will witness a 1987-type stock market crash although this time it will be much more severe. For those who have no idea what exactly happened here it is <a href="https://www.federalreserve.gov/pubs/feds/2007/200713/200713pap.pdf" target="_blank" title="Black Monday – 1987.">Black Monday – 1987.</a>
Given what transpired recently in the GFC, I would think that the vast majority are erring on the side of caution – which history has conclusively shown to be the smartest path.
</body></html>

robertsimeon-hRNTwJyXkQ

Is the public auction system going – going – gone?

<html><body>
Discussing the issue of the potential price guidance ban in Queensland, the Real Estate Institute of New South Wales president Malcolm Gunning expressed his support for a recent petition for agents to publish reserve prices a week out from auction.
The <a href="/expert-insights/buying/louis-christopher-and-patrick-bright-say-media-outlets-are-ignoring-underquoting-petition">petition, from EPS Property Search's Patrick Bright</a>, looks to increase transparency by requiring real estate agents to publish the reserve prices to the public.
Gunning told Property Observer that he doesn't support the banning of price guides in Queensland, believing that they're "trying to exonerate the responsibility of under or over quoting". Just today, Property Observer reported that the Real Estate Buyers Association of Australia believe that <a href="/expert-insights/buying/coercion-will-be-rife-under-new-queensland-price-guide-laws-rebaa">coercion will be rife if the changes go through</a>.
With Brisbane labelled one of the upcoming investment hotspots, he also expressed concern for buyers in New South Wales and other states and territories who would be heading to the south-east Queensland suburbs for purchasing, unaware of what prices could be attained, where a local might be more familiar.
"In NSW, the institute uspports the agent giving an indication. Agents are dumb when they [underquote]and have no confidence in their ability," said Gunning.
In fact, he pointed to education being the real issue for New South Wales instances of underquoting.
"We think the problem is that in New South Wales the level of entry into real estate is the lowest in Australia and we think that [when agents underquote it is] reflective of agents not being confident in themselves."
He noted that in the last 18 months it has been difficult for agents, particularly those with little confidence in appraising a property, to provide an accurate price guide, with buyers getting desperate to purchase and chasing the properties beyond market expectations.
However, he said, the agent should be able to give a purchaser an indication of the vendors expectation, and perhaps mention the level of competition. If a buyer wants to compete at auction with other bidders, then this is their decision, however they should not be competing with a reserve price set higher than expectation.
Gunning expressed his support of John McGrath, who has been actively against removing the price guidance.
Despite the opposition, however, it might go through.
"The REIQ are supporting it, and they’re a strong organisation, so I think the government might pass it," he said.
He also told Property Observer that he has recently spoken with the Office of Fair Trading who have said that underquoting is not as high on their agenda as looking to knock out dodgy Registered Training Organisations.
"There are a lot of training organisations offering sub-standard training, we’re trying to lift the standard of the industry. We’re getting people coming in with just a week of training," he said.
He noted that the better agents who do not fall into underquoting tend to be those with higher levels of education.
</body></html>

jduke-EHk3XBmHkn

REINSW's Malcolm Gunning supports early publishing of reserve prices

<html><body>
The proposal to ban auction price guides in Queensland, which has in part been described as a decision to help stamp out the problem of underquoting, has been slammed by the Real Estate Buyers Agents Association of Australia (REBAA) who claim that not only will this action not stop the problem, but it could also deter buyers from bidding at auction.
REBAA spokesperson Scott McGeever said that the auction process is skewed in favour of real estate agents and the vendors, and changing this law will not change the status quo.
The Queensland laws, which are expected to be passed within coming weeks, has left McGeever questioning the decisions.
“The Queensland government has had the opportunity to make a real change in favour of home buyers but instead buyers will remain in the dark and coercion will be rife,” he said.
“The allowance of web-based price guides does nothing to provide clarity for would-be buyers, many of whom are already spending thousands of dollars on building and pest inspections for properties which aren’t really within their range.”
He noted that internet price guides are just a small component of the auction process, with this proposed solution to leave buyers vulnerable to selling agents who will use this to their advantage.
“Some real estate data sites allow owners, or those who own in the local area, to change price estimates for properties listed online, allowing for manipulation to occur,” he said.
“Buyers are often already uncertain about auction environments and with either less or manipulated information at hand this could reduce their bidding confidence even further.”
REBAA is the latest body to voice their opposition to the changes, joining the ranks of the REINSW, <a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">John McGrath</a> and a <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">number of news organisations</a>, however there are still <a href="/news/queensland-price-guide-ban-garners-support-with-claims-debate-is-blown-out-of-proportion">a number of those supporting the proposed changes</a>.
Another solution to the underquoting may be to publish the reserve prices prior to the auction. An <a href="/news/nsw/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate">online petition for this change in New South Wales is circulating, launched by buyer’s agent Patrick Bright</a>, and has seen vocal support from SQM Research’s Louis Christopher. Meanwhile, observer Terry Ryder, based in Queensland, has also been vocal on the issue of the Queensland price guide ban, <a href="/expert-insights/buying/dont-like-the-auction-price-guidance-ban-you-can-only-blame-yourself">telling those who dislike the ban that they can only blame themselves</a>.
</body></html>

"Coercion will be rife" under new Queensland price guide laws: REBAA

<html><body>
"It’s been almost impossible to give accurate price guidance when potential purchasers are prepared to fight and bid aggressively, resulting in some delighted vendors," the Ray White chairman Brian White recently noted.
The admission accompanied the Ray White Group achieving $3.2 billion in March sales nationally.
"How wise are vendors to have embraced auction in this cycle," <a href="https://www.raywhitegroup.com/white-paper/" target="_blank">he said in his latest monthly advisory</a>, The White Paper.
"All of the talk in Australia is about Sydney.
"But it went much broader than Sydney," he said earlier this month.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
"It’s always a good sign for Australia when New South Wales is powering.
"It becomes a catalyst for confidence across the nation," he said. 
</div>
</div>
</div>
</div>
"Ray White in Victoria set a new record reflecting a dramatically improved Melbourne market," he said.
He pinpointed a number of offices that "showed just how big some real estate agencies can become.
"For example, <a href="https://rwdbgroup.com/" style="line-height: 1.3em;">Double Bay</a> did $120 million, <a href="https://rwremuera.co.nz/" style="line-height: 1.3em;">Remuera</a> in Auckland did $55 million, <a href="https://raywhitegw.com/" style="line-height: 1.3em;">Glen Waverley</a> in Melbourne also did close to $50 million.
"All massive increases over any previous level."
Last November he noted New South Wales was the standout with its first $1billion month, adding the experience at Ray White Balmain where Sam Kelso and Emily Sim opened a new business and were profitable in the first year, was "inspiring." 
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
"We’re seeing record auction clearance rates," he wrote in late 2013.
"Property prices are increasing in most markets, particularly the big cities. 
"The highest percentage of property is now being taken to auction. 
"Confidence to upgrade one’s home is being backed by enthusiasm of a cycle a-go.
"Sooner or later, the cycle will lose intensity," he acknowledged. 
</div>
</div>
</div>
</div>
Mr White likes to call markets as accurately as possible, and in the past weaker markets once noted "There's a terrible statistic in the industry that shows about half of sales are made at a price that is less than the owner was previously offered."
And he had also advised the only softness was the confidence hit that resource regions in Australia are now experiencing. 
"On a bearish note, prices are dropping in resource areas.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
"A reminder of how closely linked property prices are to economic activity," he said. 
</div>
</div>
</div>
</div>
Brian White has said the continued focus on China had resulted in the company being recently invited to present at a key investment conference being held by CCPIT – the arm of the Chinese Government promoting investment within and outside of China.  
But adding that while project sales continued at remarkable levels - "what would this market look like if it no longer had Asian interest?" 
</body></html>

jchancellor-FAypfDUnLy

Ray White chief says auction price guidance "almost impossible" in aggressive Sydney market

<html><body>
GUEST OBSERVATION
According to news reports it looks like the ban on price guides for properties up for auction in Queensland will go ahead when Parliament sits in May - with one minor amendment.
Vendors and selling agents will still be able to categorise the property in a price bracket for buyers searching on real estate websites. 
How will it affect the auction climate in Queensland?  Not much - auctions aren't as popular there and price guides have always been frowned upon.  But the debate has captured the attention of the major players in Sydney and Melbourne where auctions are the sales method of choice for many. A change such as this in these markets would dramatically alter the real estate landscape and make auctions less popular - a result many in the industry don't want despite the flaws in the current process. 
<blockquote>
Underquoting is a cruel, misleading and deceptive practice that needs to be stamped out for good.
</blockquote>
This is why I believe so many industry players have been so outspoken against the proposed changes. Their main claim has been that "buyers want pricing information". Yes, they are on the right track - buyers do want pricing information - however, they have left off the most important words in that statement which I believe to be "honest and transparent". 
The Queensland government's position can be summed up as "no price guides are better than phoney ones", and I have to agree.
Underquoting, or bait advertising as it’s also known, is a cruel, misleading and deceptive practice that needs to be stamped out for good.  
However, I believe the Queensland government is set to miss the mark here. They have the opportunity to make a real change for the better with the eyes of Australia's real estate industry watching.
Instead what is proposed is a half measure that doesn't really address the lack of transparency issue.
Naturally I much prefer my idea of making it mandatory to publish auction reserve prices seven days prior to auction as I've outlined in <a href="https://www.epspropertysearch.com.au/go/eps/blog/bringing-down-the-hammer-on-dodgy-auction-price-guides" target="_self">previous blogs</a>.  I believe my proposed changes would achieve a much better outcome for both the buyers and sellers.  Further my proposed changes would more than likely make auctions more popular with buyers due to this transparency.  If they are more popular with buyers they will be more popular with sellers, so everybody wins. 
In just a few weeks my <a href="https://www.change.org/en-AU/petitions/the-honourable-stuart-ayres-mp-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">‘publish auction reserve prices’</a> petition has had hundreds of comments supporting the idea, but I believe it needs more support before the Minister is likely to look at the proposal - if you haven't already please take three minutes to read it and support it if you agree.   
Please let anyone you know who has recently purchased a property or who is currently searching for one know about it so they can also have their say! 
Patrick Bright is the founder of Sydney-based buyer’s agency <a href="https://%20www.epspropertysearch.com.au/" target="_blank" rel="nofollow">EPS Property Search</a>.
Patrick is the author of four best-selling real estate books known as “The Insider’s Guide to Buying Real Estate Series.”
This article first appeared on <a href="https://www.epspropertysearch.com.au/" rel="nofollow">www.epspropertysearch.com.au</a>.
</body></html>

pbright-aNtgvRfvJN

Queensland's price guide bans don't go far enough, what we need is real transparency

<html><body>
The proposed Queensland price guide ban is back on the radar, with a number of industry members speaking out in support of the legislation.
For those who are not aware of the potential changes, you can<a href="/news/new-queensland-legislation-to-leave-buyers-without-price-guides-reinsw"> see the passage in the legislation that has caused the outcry in this article here</a>.
Damian Hackett, CEO of Place Estate Agents, has said that banning the price guides will not make a significant change from what is currently in place, and will improve the professionalism of the real estate industry.
In fact, said Hackett, putting a price guide on an auction is contrary to its intended purpose – to let the market determine the final value of the property.
<blockquote>
DEBATE POINT: Is putting a price guide on an auction contrary to its intended purpose?
</blockquote>
“The notion of putting a price or a price range on a property going to auction is the reverse of what the process is trying to achieve,” he said.
Director of Place, and <a href="https://www.reiq.com/about-us/board-members" target="_blank">board director of the REIQ</a>, Paul Curtain, said that many currently did not put price guides on auctions – which is the intention of the current legislation.
“The current legislation was designed to move away from price guides, but over time it has been interpreted differently – it confused people,” he said.
“If you read it a particular way it allows for a price guide to be advertised, as long as you have the vendor’s permission in writing and some agents were interpreting it in this way.”
Hackett continued by noting that vendors still do have the option of providing a price guide.
“A seller should absolutely have the right to put a price on their property, but in simple terms, if they want to do this then it should be taken to the market via a tender campaign, rather than an auction.”
<blockquote>
DEBATE POINT: Vendors can still provide price guides by opting for private treaty sales
</blockquote>
Unsurprisingly, this echoes official sentiments from the Real Estate Institute of Queensland's CEO,<a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland"> Anton Kardash, who said that other auctions go ahead without price guides</a>.
"Art, horses and motor vehicles, to name but a few, are regularly auctioned without a fixed price or a price guide because that is the very nature of auctions. The market will decide on the day of auction what it is prepared to pay for that particular asset," he said.
"It should also be highlighted that if a seller wishes to market a property with a price or using a price guide, they may do so by instructing their agent to sell via the much more popular private treaty method."
Curtain said that the changes would “tidy up” ambiguity at present, and help with the policing of real estate agents in the way they represent pricing, which in the past led to a lot of misrepresentation and complaints from disadvantaged consumers.
<blockquote>
DEBATE POINT: Currently there is ambiguity in the legislation that needs clearing up.
</blockquote>
“Agents would lead a buyer to a property on which they’d underquoted by 10 to 20% and the buyer would go the expense of getting building inspections and the like and then on auction day would realise they weren’t even in the running for the property,” he said.
“Essentially banning auction price guides is designed entirely to safeguard consumers and ensure we don’t return to those dark ages of misrepresentation. Arguments for price guides to be allowed potentially takes us back to those days, and this is something we categorically do not want.”
In fact, Curtain also pointed to other states as perpetrators, again much like the REIQ’s stance.
“It is with great pride that Queensland can say that it has largely avoided claims of misleading and deceptive conduct in relation to property price guides. Unlike in some other states where such complaints are rife, Queensland has not been subject to constant complaints of such a nature and will continue to prevent any future issues with the passing of this legislation,” said Kardash.
It appears Curtain agrees with this.
<blockquote>
DEBATE POINT: Other states are rife with underquoting, and they have price guides.
</blockquote>
“Certainly in other states underquoting is a huge problem – it has almost become the norm in states like Victoria for a price to be quoted and the property to sell above that level, sometimes significantly above, and this is only disadvantageous to the consumer,” said Curtain.
Hackett said that Place applauded the Property Occupations Bill 2013, with much of the other changes resulting in the reduction of red tape, despite the “controversy” surrounding price guides.
“Most of the members of the REIQ are supportive of the Bill as a whole, as are the majority of real estate agents, and indeed even consumers,” he said.
“The only issue that has been blown out of proportion is the section clarifying the rules surrounding auction price guides, but overall people are excited about the changes as a whole.”
Meanwhile, managing director of RE/MAX Australia, Michael Davoren, has urged the Queensland government to “stick with their plan and legislate for there to be no price indicators… despite a small number of people publicly lobbying for the opposite.”
One person publicly speaking for the other side of the argument is McGrath Estate Agents’ John McGrath, who has <a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">taken out full page advertisements in Queensland newspapers to argue against the proposal</a>.
"It does the people of Queensland a great disservice, in my opinion, to deny them such a fundamental right when it comes to the most important financial asset that any of us will ever own,” said McGrath.
"The banning of price guides will be a barrier to business for this great state. We should be open for business. Making it easy for others to research our property and invest in Queensland," he said.
However, despite the suggestion of a "small number" of people lobbying against the change, the REA and News Limited are also in opposition, and the <a href="/news/nsw/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate">Real Estate Institute of New South Wales also spoke out against the ban</a>, suggesting that there is a heavy tide of opposition being faced. Notably, an online petition prompted by News Limited has <a href="https://www.change.org/en-AU/petitions/jarrod-bleije-mp-amend-proposed-legislation-aimed-at-banning-price-guides-on-properties-going-to-auction-in-qld?recruiter=83952376&amp;utm_campaign=signature_receipt&amp;utm_medium=email&amp;utm_source=share_petition" target="_blank">achieved 1,918 signatures</a>.
Davoren said that the reality in the industry is that the topic has been debated at length, and most accept the REIQ’s position on having no price guidance.
“While I accept that real estate practitioners and commentators from other jurisdictions can express an opinion on Queensland real estate, their own systems are far from perfect with cases of over quoting and underquoting regularly brought to public and legal attention,” said Davoren.
Despite this, it appears it’s uncertain how many agents actually are underpricing.
<blockquote>
DEBATE POINT: Could providing reserve prices one week before auction be an alternative solution?
</blockquote>
“A minority of agents are over quoting to the seller but then underpricing when going to the public – there is no transparency in that,” he said.
“The Bill proposes that an agent or auctioneer can provide a comparative market analysis in writing with the written consent of the seller and at the direct request of the buyer,” he said.
“We’ve invested so much already into making our real estate industry as transparent as possible; to encourage the use of price indicators is a backward step.”
He also said that, contrary to what some have been saying, the Bill will not stop buyers from using real estate portals to find properties in their price range, with any search parameter based on the property’s price range to be seen as a “search tool only” and not taken as the agent’s pricing guide or opinion.
Another solution to the underquoting issue has been suggested through the publishing of reserve prices a week out from the auction date. An <a href="/news/nsw/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate">online petition for this change in New South Wales is circulating, launched by buyer’s agent Patrick Bright</a>, and has seen vocal support from SQM Research’s Louis Christopher. Bright has suggested to Property Observer that should the model be successful in New South Wales, other states may be interested to implement it.
Observer Terry Ryder, based in Queensland, has also been vocal on the issue of the Queensland price guide ban, <a href="/expert-insights/buying/dont-like-the-auction-price-guidance-ban-you-can-only-blame-yourself">telling those who dislike the ban that they can only blame themselves</a>.
</body></html>

Queensland price guide ban garners support, with claims debate is “blown out of proportion”

<html><body>
The much discussed practice of underquoting, or bait pricing, has attracted the interest of Consumer Affairs Victoria, who have announced they will be keeping a close eye on the property market, and specifically auctions, this autumn season.
The practice of underquoting, much-discussed on Property Observer, has director of Consumer Affairs Victoria Claire Noone set to catch out real estate agents misleading prospective buyers. This is timely, considering the potential Queensland change to legislation to stop all price guides at auction in <a href="/news/qld/letter-from-the-editor-more-information-not-less-please-queensland">a bid to solve the issue of underquoting that the REIQ claims is rampant in the auction-heavy capitals</a>.
"In this peak auction period, we are gathering market intelligence through online monitoring and other data collection methods," Noone said. 
"We will be watching for any misconduct during the buying and selling process - from the moment a property is advertised to when deposits are paid and held in trust accounts.”
She also expressed that staff would be attending auctions to ensure they are “conducted according to auction rules”. Property Observer welcomes this attention into the issue, particularly surrounding the announced attention being paid to indicators of misleading price advertising and campaigns.
However, Noone also urged prospective buyers to ready themselves with auction rules, including price advertising and underquoting, prior to attending auction so that they can be prepared.
"Comparing the initial advertised price with the sale price is not evidence of underquoting," Noone explained. 
"Underquoting is when an agent misleads a prospective buyer about the likely selling price of a property for sale.”
She explained that examples of this included when a property is advertised or quoted to a prospective buyer at a price lower than the seller’s asking price or auction reserve price, the agent’s estimate of the selling price or a genuine offer or expression of interest.
Property Observer recently attended a Sydney auction that was potentially a case of underquoting, with a reserve price set some $200,000 above the price guide.
Noone also reminded buyers that, at auction, you will not be able to make a contract subject to conditions and that there is no cooling off period.
Underquoting is a regularly debated topic. Recently, <a href="/expert-insights/investing/underquoting-the-auction-system-s-necessary-evil-mark-armstrong">observer Mark Armstrong referred to is as the auction system’s “necessary evil”</a>, meanwhile a petition has been started by buyer’s agent Patrick Bright for the <a href="/news/online-petition-for-mandatory-reserve-price-publishing-launched">mandatory publishing of reserve prices</a>.
</body></html>

Price Guides

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Price Guides

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News