<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

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

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

Residential Auctions

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Melbourne's North West secured a strong clearance rate of 78.2 percent from its 91 auctions over the weekend, according to CoreLogic.
The inner Melbourne region held over 200 auctions with a clearance rate of 67.6 percent.
 
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jonathanchancellor-7SQnKwU6yx

Melbourne's North West shines in damp weekend auction results

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According to CoreLogic, Ryde secured an 88 percent clearance rate at the weekend auctions.
Baulkham Hills and the Hawkesbury region only secured 50 percent of their 17 auctions.
North Sydney secured a strong 85.5 percent from their busy 113 auctions.
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Ryde rides high at 88% while Baulkham Hills stumbles in weekend auctions

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The weather failed to inflict much damage on the east coast residential sales success despite the hazardous first auction weekend of winter.
Sydney’s clearance rate rose from 73 percent last week to 76 per cent, according to the preliminary CoreLogic RP Data tally. The Domain data even suggested it bettered 80 percent.
Auction prices across Sydney ranged between $348,000 in Canley Vale and $5.7 million in Strathfield.
<a href="https://www.realestate.com.au/property-house-nsw-strathfield-122626106" target="_blank">It was a contemporary Strathfield home</a> with the most modern of fireplaces featured in the living room at 20 Llandilo Avenue, Strathfield.
There were four bidders - from among the 12 registered parties - after the opening $4.5 million offer at the auction by Strathfield Partners agent Hawre Ahmad.
The Sydney auctioneer Damien Cooley noted that while fewer attendees come to onsite auctions when the weather isn’t friendly, the percentage of serious bidders among the attendees actually increases.
"You know you have a keen buyer if they are turning up to your auction," Damien Cooley said on the turn in the weather. 
There was a similiar tick-up trend, with the reduced early winter offerings, in Brisbane where vendors fared well too despite rising flood waters.
Brisbane’s clearance rate rose from 41 percent last week to 55 percent.
Melbourne's success rate held steady at 71 percent with prices ranging between $240,000 in Braybrook and $5.1 million in East Melbourne.
Around 959 residential properties were taken to auction in Melbourne down on the 1,170 auctions in the prior week as the winter slowdown commences.
Lower winter market listings will become even more noticeable from the Queen’s Birthday holiday break. 
The winter property auction hibernation doesn't necessarily happen across all Sydney suburbs, according to CoreLogic RP Data statistics.
Since 2011 Sydney auction volumes have jumped over the three month winter season from around 5000 offerings to 11,000 listings.
The forthcoming federal election might distract some potential vendors but recent July auction volumes have been Sydney’s busiest on record.
Auction hibernation continues to happen more so in Sydney's higher-priced suburbs through winter as overseas vacations are popular with owners and agents alike.
Garden suburb vendors also tend to hold back too until spring.
"June and July usually see’s the average number of buyers taper off, and this was certainly evident in the first weekend of June," auctioneer Rocky Bartolotto said.
"Give the very wet day, it’s fair to say that any buyers at auctions were no doubt very serious about securing a property," he added.
He advised certain Sydney properties continued to attract high inspections usually matched with a higher number of registered buyers.
The average was four bidders, Bartolotto noted, down from six to seven buyers last June.
But the recent strong autumn sales period must ensure there are still plenty of committed buyers around as we head into winter, James Pratt, director of auction services at Raine &amp; Horne said.
Estate agent John McGrath also recently suggested that winter was not a bad time to sell.
"Actually, the opposite is usually true," he said especially as buyers with approved finance are typically only given six months to buy before they have to re-apply, so they don’t have time to take three months off over winter.
Some lenders are imposing tougher new borrowing conditions that reduce the amount property buyers qualify for as the six months comes up, according to Mortgage Choice, the listed broker.
Conditions used to assess a property loan are being tightened so that living expenses are increased, assessable incomes reduced and the maximum amount borrowed cut in some cases by more than 10 percent, the brokerage told Fairfax Media. 
It cited an example of a couple six months ago earning net income of about $116,000 could have qualified for a loan of about $1.1 million, according to Mortgage Choice analysis.
Under the new rules they would qualify for about $70,000 less, although during this period variable rates have been reduced by up to 25 basis points.
 
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jchancellor-FAypfDUnLy

Auction heat remains in Strathfield result despite winter's onset

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<h2>Domain has released a list of Sydney suburbs where there was a 100% success rate at auction last month.</h2>
<div class="innertext" data-placeholder=""> </div>
<h2>Suburbs with a 100 per cent clearance rate in May</h2>
<h2>Houses</h2>
– Alexandria – Artarmon – Croydon Park  – Croydon  – Warriewood  – Birrong  – Cammeray  – Killarney Heights  – Naremburn – North Bondi  – West Pymble 
<h2>Units</h2>
– Lane Cove  – Wollstonecraft – Rose Bay  – Maroubra  – Bondi Junction  – Alexandria  – Botany – Woolloomooloo  – Epping – Vaucluse
Source: Domain Group
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Sydney's strongest May auction suburbs: Domain

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<div class="innertext" data-placeholder="">Domain has released a list of Melbourne suburbs where there was a 100% success rate at auction last month.</div>
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<div class="maintitle">
<div class="innertext" data-placeholder="">Suburbs with 100 % clearance rates (houses)</div>
</div>
</div>
<div class="moveable_w" data-element-id="table_28568331" data-object-id="f114a03c-6dd8-47a1-a708-c7834b2eff1c" data-object-type="chart">
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<th class="igc-table-header tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="0">
<div class="tablesorter-header-inner">Suburb</div>
</th>
<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="1">
<div class="tablesorter-header-inner">Region</div>
</th>
<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="2">
<div class="tablesorter-header-inner">Auctions</div>
</th>
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<tbody class="igc-table-body">
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Caulfield South</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">23</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Yarraville</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">18</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Blackburn South</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">10</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Moonee Ponds</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">10</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Windsor</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner Urban</td>
<td class="igc-table-cell igc-table-dynamic-column">10</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Coburg North</th>
<td class="igc-table-cell igc-table-dynamic-column">North</td>
<td class="igc-table-cell igc-table-dynamic-column">9</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Fitzroy North</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner Urban</td>
<td class="igc-table-cell igc-table-dynamic-column">9</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Elsternwick</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">8</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Carlton North</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner Urban</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Heathmont</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
</tr>
<tr class="igc-table-row">
<th class="igc-table-header igc-table-header-left">Keilor</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
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</tbody>
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<div class="innertext" data-placeholder="">Suburbs with 100 % clearance rates (units) in May</div>
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<div class="tablesorter-header-inner">Region</div>
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<th class="igc-table-header igc-table-dynamic-column tablesorter-header tablesorter-headerUnSorted" scope="col" data-column="2">
<div class="tablesorter-header-inner">Auctions</div>
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<th class="igc-table-header igc-table-header-left">Brighton</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">14</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Mentone</th>
<td class="igc-table-cell igc-table-dynamic-column">Inner South</td>
<td class="igc-table-cell igc-table-dynamic-column">7</td>
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<th class="igc-table-header igc-table-header-left">Keilor East</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">5</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Forest Hill</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">4</td>
</tr>
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<th class="igc-table-header igc-table-header-left">MacLeod</th>
<td class="igc-table-cell igc-table-dynamic-column">North East</td>
<td class="igc-table-cell igc-table-dynamic-column">4</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Williamstown</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">4</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Blackburn</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Chadstone</th>
<td class="igc-table-cell igc-table-dynamic-column">Outer East</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Flemington</th>
<td class="igc-table-cell igc-table-dynamic-column">West</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
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<th class="igc-table-header igc-table-header-left">Ivanhoe</th>
<td class="igc-table-cell igc-table-dynamic-column">North East</td>
<td class="igc-table-cell igc-table-dynamic-column">3</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
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Melbourne's best auction suburbs in May 2016: Domain

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A Millers Point property comprising eight one-bedroom apartments has sold at auction for $7.22 million, boosting the NSW government's efforts to provide social housing through the sale of heritage-listed properties.
The property at 85-87 Kent Street was sold on behalf of the Department of Family and Community Services, and takes the total amount raised from Millers Point sales to $189.95 million.
In February, a heritage-listed former aged care facility, Darling House at Millers Point fetched a record $7.7 million at auction.
Selling agent Richard Shalhoub of McGrath said the 85-87 Kent Street property was bought by a private investor.  
“This was a rare opportunity to purchase a block of 8 x 1 bedroom apartments in the Millers Point Precinct with the opportunity to upgrade the apartments for a healthy rental yield," said Shalhoub.
It is a three-storey 19th century terrace with an additional contemporary infill building erected in 2000.
The two buildings were internally altered to create one building and were sold as a block.
The property remains subject to a Conservation Management Plan, endorsed by the NSW Heritage Council, providing buyers with instructions on preserving and maintaining the heritage components of the property.
Conservation Management Plans endorsed by the NSW Heritage Council are included in contracts for sale for all heritage-listed properties in Millers Point. 
Proceeds from sales in the Millers Point precinct will fund 1,500 new social housing dwellings across the state, with 590 new fit-for-purpose social housing dwellings funded to date.
 
 
 
 
 
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Millers Point property fetches $7.22 million at auction

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The Westpac–Melbourne Institute Consumer Sentiment Index dipped 2.2 percent from 101.3 in Feb to 99.1 in March.
The softer read reflected weaker reads on ‘family finances vs a year ago’ and ‘time to buy a major item’ partially offset by improved expectations for the economy.
State divergences remain a strong theme across the survey detail with the ‘lukewarm’ national result reflecting a mix of much weaker reads across the ‘mining’ states and considerably stronger sentiment across the other major states.
Responses to additional questions on news recall showed lower recall on most topics compared to Dec – particularly news on ‘international conditions’ – with news assessed as less unfavourable as well though still predominantly negative overall.
Updates on the ‘wisest place for savings’ question show a sharp rise in risk aversion with a big drop in the proportion nominating ‘real estate’ and a corresponding rise in those favouring ‘deposits’ and ‘pay down debt’. The shift appears to stem from a combination of increased market volatility, unfavourable media coverage on property markets and potential changes to tax policy.
The mix resulted in a 20pt jump in the Westpac Risk Aversion Index to its highest level since Mar 2013.
CSI, our modified sentiment indicator that we favour as a guide to actual spending, posted a heavy 5.7 percent fall in Mar to be down 8 percent over Q1 as a whole. The Index suggests spending will lose momentum over the first half of 2016.
The sub-index on ‘time to buy a major item’ registered a sharp 6.6 percent fall in Mar to be 12pts below average. The Q4 national accounts suggest the pace of durables spending has already softened with the sub-index suggesting more subdued soft growth in early 2016.
The ‘time to buy a dwelling’ index increased 5.4 percent from 99.3 in Feb to 104.7 in Mar and continues to show signs of settling just above the 100 level. Assessments in NSW have improved from very weak levels.
The Westpac-Melbourne Institute Consumer House Price Expectations Index also rebounded 9.8 percent in Mar to be just 5pts below its 10yr average. 
Expectations continue to show increased volatility likely reflecting mixed actual conditions and uncertainty around the outlook for key policies affecting housing markets.
The Westpac-Melbourne Institute Unemployment Expectations Index edged up 1.3 percent in Mar, indicating a slightly poorer outlook for unemployment. The Index still points to an improvement in job loss fears compared to 2014 and most of 2015. However the tentative signs of a renewed deterioration in recent months bears watching closely. 
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As is often the case, ‘the devil was in the detail’ with the March Westpac–Melbourne Institute Consumer Sentiment survey.
On the surface, the headline Index was just a touch lower in the month, essentially holding in line with average readings over the last 6mths. Likewise, the Westpac–Melbourne Institute Unemployment Expectations Index also deteriorated only slightly.
The detail however shows a much richer pattern of strength and weakness, and a more nuanced account of the factors currently influencing the consumer mood.
The dip in sentiment was driven by a sharp fall in assessments of ‘family finances vs a year ago’, and accompanied by a sharp rise in risk aversion indicated by responses to additional questions on the ‘wisest place for savings’.
Although both moves may prove to be temporary, these components have had a major bearing on consumers’ spending and savings decisions in the past. Indeed, this aspect of the survey points to a softer near term demand environment, particularly when compared to what now looks to have been a strong finish to 2015.
The detail around housing showed a more positive but still mixed situation.
Views on ‘time to buy a dwelling’ and house price expectations both look to have pulled out of last year’s abrupt slide at levels that are soft but not so soft as to suggest a ‘hard landing’ is on the way.
The main qualifier here is around investor housing with the survey showing a sharp drop in the proportion of consumers nominating real estate as the ‘wisest place for savings’. One of the main drivers appears to be uncertainty around potential changes to policies affecting residential investment – something that looks set to remain a factor through to the Federal election.
On the labour market, the main mystery still concerns the disconnect between consumer views and improvements now clearly being shown across a wide range of market metrics. While these have shown a marginal softening in recent months, consumers never really bought into 2015’s improvement.
We have several ideas as to why that may be but these are yet to be confirmed. In the meantime, the anxious consumer view on jobs remains a clear restraint on demand. 
The consumer mood: bogged down
The Westpac-Melbourne Institute Index of Consumer Sentiment dipped 2.2 percent in Mar from 101.3 in Feb to 99.1. The Index is back to around its average reading over the last 6mths.
The index continues to hold on to most of the gains seen since last year’s leadership change – it surged 8.3 percent through Oct-Nov and has only slipped back 2.5 percent from that high although technically we are now slightly back in the region where pessimists outnumber optimists.
Financial markets have maintained significant volatility since the last survey while finishing the month on an encouraging high.
Responses to additional questions on ‘news recall’ indicate that consumers were generally less focussed on ‘international conditions’ than in Dec, recall on this topic falling from 20 percent to 15.5% in Mar, although perceptions remained highly unfavourable.
The highest levels of news recall were for items on ‘budget and taxation’ (37.1 percent) and ‘economic conditions’ (36.7 percent). Perceptions of both topics were less unfavourable in Mar than in Dec. Respondents registered low recall rates on news on ‘interest rates’, ‘employment’ and ‘inflation’ although again perceptions were significantly less unfavourable than in Dec. 
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Three of the five component indexes fell in Mar. Notably, the sub-index on ‘finances vs a year ago’ fell 8.2 percent. The RBA has singled out this component as providing a useful guide to actual spending. As such, it would be of some concern that, having failed to lift following last year’s leadership change, the sub-index is down 5.9%yr. That said, the prudent approach to the sharp move in March is to assess the degree to which it is sustained in coming months.
The ‘finances, next 12mths’ sub-index edged up 0.2 percent. Views on the economy were more mixed, the ‘economy, next 12mths’ sub-index up 8.2 percent, the ‘economy, next 5yrs’ sub-index down 2.5 percent.
― The ‘time to buy a major item’ sub-index was on the weak side, falling 6.6 percent to be down 2.5 percent yr.
State divergences remain a strong theme across the survey detail. Indeed the ‘lukewarm’ results for sentiment overall are partly a matter of arithmetic: the ‘mining states’ account for 31% of consumers in Australia and while-ever sentiment across this group is stuck around 90 it’s difficult to generate a ‘strong’ national result. An index reading in the 110+ range, for example, would require sentiment reads in NSW and Vic to be pushing towards 120 or more. Viewed this way, middling consumer sentiment reads may be as good as it gets in 2016. 
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Sentiment indicators: housing
The ‘time to buy a dwelling’ index increased 5.4 percent from 99.3 in Feb to 104.7 in Mar. After a sharp fall in 2015 H2, the national index continues to show signs of settling at a level just above 100. That puts it well below the long run average of 129 but above the lows seen during previous housing market corrections – these have seen sub-100 readings with sub-80 readings in major downturns. 
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<div class="column">Notably, the state detail on ‘time to buy a dwelling’ shows buyer sentiment in NSW – the weakest state – is now 44 percent above its Sep low although it is still 19 percent below its level from a year ago.</div>
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<div class="column">Markets are now emerging from the summer hiatus. However, most data releases still relate to the Dec-Jan period and are hence less reliable guides to trends. The main exception is around auction market activity, which is reported weekly and provides more robust information, albeit heavily skewed to parts of the Syd &amp; Melb markets.</div>
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Auction clearance rates continue to show a firm start to 2016 compared to what was a very weak finish to 2015. Although underlying volumes are low (down 20% on Sep levels and –2.3%yr), both Syd and Melb clearance rates have been around 67-68% level, allowing for seasonal fluctuations. 
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Sentiment indicators: house prices
The Westpac-Melbourne Institute Consumer House Price Expectations Index rebounded 9.8% in Mar to be 16.6% above its Dec low but still 18.4% below its year ago level. At 120.9, the index is less than 5pts shy of its 10yr average.
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Just over 22 percent of consumers expect prices to decline in the year ahead, 33 percent expect no change, 38 percent expect gains of 0-10 percent and 6 percent expect 10%+ gains. State-wise, the main lift vs Feb was a more bullish view in NSW and a less pessimistic view in WA. That said, the state and sub-group detail continues to show volatile moves suggesting consumers may be struggling to get a firm handle on the price outlook. 
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This volatility may derive from the uncertain outlook for policies affecting investor activity and the uneven picture presented by various price measures. The most timely price gauge – the CoreLogic RP Data series – has shown clear signs of stabilising after a weak Q4 with prices likely to finish up close to 2 percent in Q1. Other less timely measures are still reflecting last year’s weakness but get equal coverage in the media. 
Viewing all the elements of housing sentiment by state – price expectations, buyer sentiment and investor sentiment – conditions overall appear weakest in Qld &amp; WA although by far the biggest deterioration vs a year ago is in NSW. 
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Volatility reflecting mixed conditions and uncertainty around policies affecting housing markets: Westpac-Melbourne Institute

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A six bedroom, four bathroom home in Bellevue Hill topped this weeks most expensive sales with $7.25 million, according to CoreLogic RP Data.
Sold through Ballard Properties Clint Ballard and James Ball, the home features a swimming pool, a home cinema and a wine cellar.
The second most expensive house was in Collaroy where Brendan Pomponio and Kirsten Bertram of Belle Property sold a five bedroom, four bathroom home for $5.65 million.
The designer sandstone and timber designer home belonged to Fairfax CFO David Housego and features an open fire place beside the swimming pool.
 
Top ten sales of the week
25 Suttie Road, Bellevue Hill, NSW: 6 bed, 4 bath, 4 car house - $7.25 million - Ballard Property Group Woollahra
14 Seaview Parade, Collaroy, NSW: 5 bed, 4 bath, 2 car house - $5.65 million - Belle Property Dee Why
7 Cheyne Walk, Castlecrag, NSW: 5 bed, 4 bath, 3 car house - $4.72 million - McGrath Estate Agents
1/6 Wulworra Avenue, Cremorne Point, NSW: 3 bed, 2 bath, 3 car unit - $4.06 million - McGrath Estate Agents
25a/171 Gloucester Street, The Rocks, NSW: 3 bed, 2 bath, 3 car unit - $3.75 million - Colliers International Sydney
32 Lower Almora Street, Mosman, NSW: 2 bed, 2 bath, 1 car house - $3.7 million - Belle Property Mosman
9 Oxley Avenue, St Ives, NSW: 5 bed, 4 bath, 2 car house - $3.37 million - Savills Cordeau Marshall St Ives
59 Station Street, Pymble, NSW: 5 bed, 3 bath, 2 car house - $3.2 million - LJ Hooker Wahroonga
27 Ruskin Rowe, Avalon Beach, NSW: 4 bed, 4 bath, 5 car house - $3.15 million - LJ Hooker Avalon Beach
8e/171 Gloucester Street, The Rocks, NSW: 3 bed, 3 bath, 2 car unit - $3.12 million - McGrath Estate Agents.
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jrobinson-rf4aSBido9

Fairfax CFO David Housego misses out on the most expensive sale of the week

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It was records galore at property auctions at the last weekend in Melbourne, in a spectacular near-finish to the 2015 auction year.
The 1,648 auctions held on Saturday broke the previous record for a single Saturday (1,626 auctions), set on October 25 last year.
Even for the week, it was a record, with 1,749 auctions held last week – 62 more than in the week ending October 26 last year.
And in a finish to the month that will take some beating, 5,669 auctions were held in November, 259 more than in the previous record month, November 2014, according to the REIV.
REIV CEO Enzo Raimondo said it was a remarkable year for Victoria’s property sector, with more homes going to auction than ever before: 39,380 across the state in the year to December 1, 5% more than the same period last year.
Raimondo said the high number of auctions really is creating strong options for buyers, with 1,560 due this Saturday.
“With the high number of auctions, the clearance rate is starting to moderate which offers buyers excellent opportunities to buy prior to year-­end,” he said.
“Melbourne property buyers really are spoiled for choice, with auctions in more than 350 suburbs in the next fortnight.”
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j.ballantyne1990-6AQqhLzZaK

Melbourne auction record smashed, another big weekend coming: REIV

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Auction clearance rates fell for the third consecutive week across the combined capital cities, down to 61.0% last week across a total of 2,288 reported auction results. 
This week 1,297 are scheduled across Sydney, with the 1,262 auctions are scheduled for Melbourne, accounting for over 80 per cent of all capital city auctions. 
Auction activity in Sydney has increased since this time last year, the latest CoreLogic RP Data figures show.
There are 1,297 auctions this week as opposed to 1,261 this time last year.
Brisbane, Canberra, Sydney, and Perth are all expecting fewer auctions than last week, while in Melbourne and Adelaide, the number of auctions this week relative to last week is higher. 
CoreLogic RP Data say Mosman is the busiest Sydney suburb with 18 auctions scheduled.
Last weekend the previously strong inner west in Sydney fell to its weakest auction clearance rate for some time, at 64%. The east, that had also been travelling above 80%, also fell, but only to the mid 70s. 
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