<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


Joel Robinson

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

<main data-perf-region="main">
<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>


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

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


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.</p>

<p data-end="717" data-start="537">The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.</p>

<p data-end="918" data-start="719">The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.</p>

<p data-end="1131" data-start="920">PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.</p>

<p data-end="1131" data-start="920"><img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" /></p>

<p data-end="1318" data-start="1133">Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.</p>

<p data-end="1433" data-start="1320">The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" /></p>

<p data-end="2191" data-start="2013">The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.</p>

<p data-end="2365" data-start="2193">PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”</p>

<p data-end="2943" data-start="2777">The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


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

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


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

Residential Development

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<p><span>Joint venture partners, Frasers Property Australia and Sekisui House Australia, have received approval to develop a pair of buildings located on the corner of Broadway and Abercrombie Streets at its award-winning Central Park development in Chippendale.</span></p>
<p><span>To be known as DUO, it is a $520 million, two tower, mixed-use project.</span></p>
<p><span>Designed by one the world’s most awarded architecture practices, Foster + Partners, DUO will be Foster + Partners’ second residential building in Australia.</span></p>
<p><span>The residential component of DUO will include a total of 313 residential apartments, offering a mix of one-bedroom suites, one bedroom + study apartments, two-bedroom apartments and three-bedroom dual-key apartments, the majority of which will be located in the eastern tower of DUO.</span></p>
<p><span>The limited range of 48 residential apartments located on levels 11-16 of the western tower will be DUO’s premium offering – DUO Limited Edition.</span></p>
<p><span>DUO will also include a 300-room hotel, ground floor retail, 5,500 square metres of commercial space, a large childcare centre to accommodate up to 90 children and the refurbished Australian Hotel.</span></p>
<p><span>$520 million is the estimated end value of DUO, comprising $350 million in residential apartments, $120 million 300-room hotel and $50 million in retail, commercial and child care uses.</span></p>
<p><span>Central Park's project director, Mick Caddey, said the $520 million project brings the completion of the Central Park development into the near horizon.</span></p>
<p><span>DUO is set to be launched to the market in late November with registrations of interest currently being taken.</span></p>
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jchancellor-FAypfDUnLy

DUO approval for Central Park 

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<div><span>Melbourne developer Kalex will release pre-sales late September of their 26 apartment project 166 Gertrude in Melbourne's Fitzroy.</span></div>
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<div>
<span><span>166 Gertrude will include </span></span><span style="line-height: 1.3em;">26 one-, two- and three-bedroom residential apartments, priced from $580,000 to $2.2M, with a 600sqm retail space on the ground floor. </span>
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<div><span> </span></div>
<div><span>Construction is due to commence 2016.</span></div>
<div><span> </span></div>
<div>For more information, <a href="https://kalex.com.au/selling/166-gertrude-st-fitzroy/" target="_blank">click here</a>.</div>
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mick.cee-iDmgDDAmu8

166 Gertrude pre-sales released soon in Fitzroy

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<div>The ABS released its Residential Property Price Indexes to June 2015 last week. </div>
<div> </div>
<div>As you can see in the first chart below, over the dozen years since September 2003 on average established capital city houses (+89%) have outperformed attached dwellings (+73%).</div>
<div> </div>
<div><a href="/images/2015/09/28/RPI1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/28/RPI1.jpg" alt=""></div>
<div> </div>
<div>
<div class="separator">Since the full ABS indices only track back to Q3 2003, Sydney will naturally appear to be a moderate performer on this index, since the harbour city's preceding boom peaked on this data series almost immediately thereafter in Q4 2003.</div>
<div class="separator"> </div>
<div class="separator">The strongest performing cities through the mining boom were Darwin - by a huge margin - and Perth. </div>
<div class="separator"> </div>
<div class="separator">A number of cities in resources regions also performed strongly through the mining construction boom, although that particular dream has turned on a dime into an illiquid nightmare for many owners of property in mining towns.</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2015/09/28/RPI2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2015/09/28/RPI2.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator">
<div>
<strong><span style="text-decoration: underline;">Houses</span></strong><br><br>Looking in the second chart below at established houses only since Q3 2002, Sydney has been playing some serious catch-up over the past three years.</div>
<div> </div>
<div>Melbourne has also had a solid run, while there have been some steady gains of late for Brisbane, Adelaide and Hobart.<br><br>The most interesting point of note is how the long run data since 2002 seems to imply a convergence of the results for all eight of the respective capital cities.</div>
<div> </div>
<div><a href="/images/2015/09/28/RPI3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/28/RPI3.jpg" alt=""></div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Attached dwellings</span></strong><br><br><span>Meanwhile the attached dwellings only index below reveals a similar pattern, although on average it records a slightly less dramatic incline through the present cycle to date, but less impressive growth in a number of cheaper cities where demand for apartment dwelling is less robust.</span><br><br><span>Note that the ABS data for attached dwellings only runs back to Q3 2003 which partly accounts for the lower growth over the full history of the data.</span>
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<div><span> </span></div>
<div><a href="/images/2015/09/28/Attached%20dwellings.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/09/28/Attached%20dwellings.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>Of course while these figures are useful indicators they are based upon averages and can mask any number of sub-trends.<br><br><strong><span style="text-decoration: underline;">Suburbs</span></strong>
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<div> </div>
<div>The same holds true for long run analysis of median prices at the suburb level, where miniscule sample sizes can skew results materially.<br><br>There has also been the small matter of a once-in-a-century mining boom combined with a one-off structural shift to lower interest rates to take account of.<br><br>As as a result those "top 100 best performing suburbs" lists almost invariably include a number of remote suburbs that few people have heard of where median house prices are around $150,000.<br><br>Since $150,000 is more or less the cost of building a house today, it follows that the real appreciation in land values has actually been weak, and the strong "growth" results are just as likely to be quirk of sampling.<br><br>The <a href="https://petewargent.blogspot.co.uk/2014/10/long-run-uk-house-prices" target="_blank">house I grew up in</a> is a great example, having apparently achieved incredible compounding capital "growth" of an amazing 9 per cent per annum for fully 35 years!<br><br>Thing is, you take off the cost of the extension, the replacement of the dodgy carport with a garage, and various upgrades to the interior, and the capital growth in real terms has been zero percent.<br><br>Cheaper properties can sometimes come with other associated problems - such as tenancy or vacancy risk - while any unfortunately substantial repair cost (e.g. for the roof) can wipe away years of returns at a stroke due to the lower base cost of the asset.<br><br>Moreover suburb median prices are by and large a waste of time - the only statistics that really tell you anything worthwhile when it comes to real estate are like-for-like sales. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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</div>
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pwargent-M4siyDbqQY

Long run residential prices: Pete Wargent

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<p><span>The Gold Coast has achieved its highest level of apartment sales in five years, with record activity expected to continue, according to new research.</span></p>
<p><span>The latest Urbis Gold Coast Apartment Essentials report revealed a total of 314 transactions occurred among 44 projects between April and June with a weighted average sales price of $558,838.</span></p>
<p><span>Urbis senior consultant Lynda Campbell said developer confidence, affordable product and lifestyle opportunity were pushing a large number of new projects on to the market.</span></p>
<p><span>“Six new projects have launched this quarter with the possibility of another 22 project launches between now and the end of the year. This would bring another 2,500 new apartments on to the market which will keep supply levels strong into 2016,” Ms Campbell said.</span></p>
<p><span>“The Gold Coast has recorded almost 1,100 sales over the last year, an increase of 34 per cent compared to five years ago.</span></p>
<p><span>“We will start to see some price increases in the coming year as new projects are released in prime locations which is likely to increase demand from overseas and interstate investors,” Ms Campbell said.</span></p>
<p><span>The Urbis Gold Coast Apartment Essentials report also revealed the Coastal Fringe was the most active precinct with 159 sales, making up 50 per cent of all transactions.</span></p>
<p><span>Ms Campbell said the Coastal Fringe offered solid returns and good value for developers, investors and owner-occupiers.</span></p>
<p><span>“The precinct offers affordable product and access to major entertainment and retail hubs, providing flexibility for families and for investors,” she said.</span></p>
<p><span>The two-bed two-bath product remained the most popular across all precincts, equating to 58% of all supply.</span></p>
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Record apartment sales on the Gold Coast‏

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<p>The New South Wales government is shooting for a target of 90% of housing approvals processed within 40 days however will need a better planning system to achieve this, according to the Property Council of Australia.</p>
<p>The state government outlined the possibility of the new accountability framework this week.</p>
<p>Property Council of Australia executive director Glenn Byres said r<span style="line-height: 1.3em;">eaching the 40-day target will require a quantum leap forward in culture, process and practice, particularly for multi-unit residential projects now common in the market.</span></p>
<p><span>“The Government's own data makes clear the average determination time for residential development applications is currently 65 days," he said.</span></p>
<p>"We know Sydney is forecast to have a housing supply deficit of 190,000 by 2024 without action – and reducing the time and cost of bringing new homes to market is part of the fix.</p>
<p>“This requires swifter pathways for all housing but there needs to be a particular emphasis on multi-unit residential given the urban renewal occurring in Sydney."</p>
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Better planning system needed to achieve NSW approval goals: Property Council of Australia

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<p><span>Mirvac and Freemasons Victoria have received approval for their East Melbourne development, which will replace Dallas Brooks Hall with 275 luxury residences.</span></p>
<p><span>Designed by Bates Smart, the project is on the footstep of the Fitzroy Gardens at 300 Albert Street in East Melbourne.</span></p>
<p><span>This approval came from the Victorian Planning Minister Richard Wynne.</span></p>
<p><span>The 275 residences will be next to the new headquarters for Freemasons Victoria fronting Victoria Parade.</span></p>
<p><span>Freemasons Victoria CEO Peter Henshall said he was delighted by the approval as well as the partnership forged with Mirvac.</span></p>
<p><span>With just one per cent of stock in East Melbourne listed for sale at any given time Mirvac is already fielding strong interest in the project.</span></p>
<p><span>Mirvac’s East Melbourne development is anticipated to be released to the market in early 2016.</span></p>
<p>Interested parties should register <a href="https://www.eastmelbourne.mirvac.com" target="_blank">here</a>.<span style="line-height: 1.3em;"><br></span></p>
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Dallas Brooks Hall to be replaced by 275 East Melbourne apartments

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<p><span>Units in the western Sydney district of Parramatta have seen strong growth values over the past 12 to 18 months, with </span>estimates the local unit market has increased 12% in the past year, according to Herron Todd White.</p>
<p>Herron Todd White's September Month in Review found up until now demand has outstripped supply due to many developments selling out before completion with the trend set to continue.</p>
<p><span>The report noted e</span><span style="line-height: 1.3em;">ntry level for 2-bedroom units in Parramatta is around $450,000 for an older walk up with  modern 2-bedroom, 2-bathroom units in a medium to </span>high-rise<span style="line-height: 1.3em;"> complex are </span>available<span style="line-height: 1.3em;"> for between $600,000 to $700,000. Penthouses and larger three bedroom units  go for between</span><span style="line-height: 1.3em;"> $850,000 to $1,200,000.</span></p>
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Parramatta leading western Sydney unit development: Herron Todd White

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<p><span>Local developers around Gosford are producing a quality housing product over quantity - a feature most noticeable when contractors outside the area enter the market, according to Herron Todd White.</span></p>
<p><span>The Central Coast, according to Herron Todd White's September Month in Review, is somewhat insulated from developers reducing the size of units, with new one and two bedroom apartments growing in square metres when compared to older apartments.</span></p>
<p><span>The report stated proposed developments in the Gosford CBD have seen high demand in the past months with whole allocations selling off the plan - possibly due to the long absence of new unit developments </span></p>
<p><span>"This is particularly from foreign and out of area investors. It would appear to be sustainable in the short term, however, once a supply point meets market demand, it’s "anticipated to flatten out to a more stable market," it noted.</span></p>
<p><span>"It is accepted that market values are rapidly rising at present, but we doubt the Gosford market is ready for some of the prices being bandied about and if these price indications are realised, then we doubt that their long term sustainability can be guaranteed through any market correction periods. </span></p>
<p><span>"Away from the Gosford CBD, the beachside suburbs nearly always deliver on value for money and rather surprisingly because the rapid rise in values has been a little slower in reaching these markets, we see good value and sustainability. The peninsula areas of Umina Beach, Ettalong Beach, Woy Woy and Booker Bay have been in continual growth mode for several years."</span></p>
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Quality housing over quantity expected in Gosford: Herron Todd White

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<p>GUEST OBSERVER</p>
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<p><span>Community groups upset that The Hills Shire Council propose to lower development heights around stations in the North West Rail Corridor have every right to protest. </span></p>
<p><span>It is rare that we see community groups angry that a council has reduced heights for new development in </span><span>their area but this is what has been achi</span><span>eved by the Hills Shire Council</span><span>. </span></p>
<p><span>Days after the Sta</span><span>te Government has announced the Greater Sydney Commission to better co- ordinate planning across Sydney we see an individual council preparing their own plans, in an attempt to </span><span>usurp the State Government plans that will shortly go on public exhibition.</span></p>
<p><span>T</span><span>he North West Rail Corridor Plans developed by the Department of Planning and Environment are in </span><span>direct response to the state government’s new railway line through the North West. </span></p>
<p><span>Clearly robust </span><span>development is needed around these stations to ensure taxpayers gain the most benefit from this piece of infrastructure </span><span>and the Department’s plans would achieve this. It seems bizarre to now have a competing plan produced by the local council on the basis that their plan reflects ‘the values and lifestyle of local </span><span>r</span><span>esidents’. Certainly those residents who own land which is now worth considerably less due to reduced development potential will feel that their values have been reduced.</span></p>
<p><span>The Council has increased uncertainty and confusion for both the local community a</span><span>nd the development industry by exhibiting plans for these precincts when the Department of Planning &amp; Environment has made it clear that they are developing detail</span><span>ed plans for these areas.</span></p>
<p><span>The Hills Shire Council proposes an incentive system to ensure that ‘The Hills Shire values’ are achieved. </span><span>This means extra floor space will be available if proposals for new apartments have Shire apartment sizes </span><span>and mix.</span></p>
<p><span>The Greater Sydney Commission will need to manage the local rules to reflect local values that </span><span>could </span><span>lead to multiple planning standards across Metropolitan Sydney.</span></p>
<p><span>The Urban Taskforce is keen to work with local community groups that are battling their council’s attempts to reduce development potential on their land.</span></p>
<p><span><em>Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.</em></span></p>
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The Hills are alive with the sound of speculator home seller protest: Urban Taskforce

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<p>A Gold Coast <span style="line-height: 1.3em;">beachside land holding on Broadbeach has gone on the market with direct Broadbeach Mall frontage. </span><span style="line-height: 1.3em;"> </span></p>
<p>Buildings include the three level retail/commercial Niecon Plaza built in the 1980s, which also boasts a retail arcade, the two level 12 Albert Avenue (known as the McGrath Building), and the two level 16 Albert Avenue commercial building currently occupied by Commonwealth Bank of Australia.</p>
<p>The 12-18 Albert Ave property, is for sale by international expression of interest campaign being marketed by Colliers International. It was also launched in China in late August.</p>
<p>Colliers international special projects national director, Darrell Irwin, said he expects Development Application approval in coming weeks for a twin tower mixed use development with a total of 244 apartments comprising 372 bedrooms - one 28 storey tower with 90 apartments and a second 35 storey tower with 154 apartments.</p>
<p>“We know that China continues to be the Gold Coast’s largest international market and this will be further strengthened with direct services starting on September 29 from central China’s most populous city Wuhan, followed by Hong Kong Airlines charter flights to the Gold Coast next January to March,” he said.</p>
<p>Colliers International is marketing the site on behalf of Niecon Plaza Pty and Rockdune Pty Ltd, linked to Raptis Investments Pty Ltd.</p>
<p>International Expressions of Interest close 5<sup>th</sup> November 2015.</p>
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