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

Joel Robinson

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

<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

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

Maréa Residences brings parkside apartments to Coolangatta

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

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

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

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

Sydney Property

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The median house price in most capital cities rose over the December quarter, according to the latest Domain House Price Report. 
Weakening investor activity and tightened lending conditions continue to impact Sydney, but Domain reported a slight increase over the December quarter.
Sydney prices in the NSW capital still sit lower than six months ago.
Meanwhile Melbourne exceeded a median of $900,000 for the first time narrowing the gap between Sydney and Melbourne to a three-year low.
Brisbane and Darwin were the only two capital cities to record median house price decreases over the quarter.  Median unit prices varied across the capital cities, with an oversupply of units that continues to impact Brisbane and Darwin.
Hobart recorded the strongest annual growth in units over the December quarter, followed by Melbourne, Adelaide, Sydney and Canberra.    The national median house price increased by 1.4% over the December quarter to $813,024, while the annual rate of growth has slowed to 5%, the lowest in 15 months.   Capital city unit markets reported a minor price growth over the December quarter, increasing by 0.3% to $557,794.
Unit growth across the capital cities slowed to a 15-month low of 2.3%.  
<table class="domain-table" style="height: 201px; width: 302px; border-color: #000000; border-width: 1px; border-style: solid;">
<thead><tr>
<td>HOUSE</td>
<td>DEC 2017</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,179,519</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$903,859</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$548,918</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$522,815</td>
</tr>
<tr>
<td>Perth</td>
<td>$557,567</td>
</tr>
<tr>
<td>Canberra</td>
<td>$753,516</td>
</tr>
<tr>
<td>Hobart</td>
<td>$443,521</td>
</tr>
<tr>
<td>Darwin</td>
<td>$565,696</td>
</tr>
<tr>
<td>National</td>
<td>$813,024</td>
</tr>
</tbody>
</table>
 Sydney  “A varied level of price growth across all capital cities was reflected in both the national median house and unit prices this quarter. Overall, prices rose marginally in the three months to December but the slower pace has weighed down the annual growth to its lowest rate since September 2016,” said the newly installed top spokesperson, Domain data scientist, Dr Nicola Powell. 
House prices in Sydney increased marginally by 0.5% over the December quarter, reaching $1,179,519. Following a recent price decline over the September quarter, Sydney’s median house price remains lower than it was six months ago, with annual growth slowing to 4% year-on-year.  
Sydney’s unit prices decreased slightly to $736,879, a 0.4% drop over the quarter. Annually, units in Sydney grew 1.7%, a 15-month low for the capital city.  
“House prices in the Harbour City continue to moderate in line with an investor activity slowdown, and first home buyer participation rates are at their highest level in six years as entry-level buyers respond to State Government incentives,” said Powell. 
“Sydney’s double-digit growth phase appears to be in the rear-view mirror, and with no further rate cuts in sight, the market may continue to moderate in 2018. Demand is likely to weaken, as the heightened investor activity that Sydney has experienced is unlikely to be significantly offset by the rising number of first home buyers.” 
Melbourne
Another quarter of solid growth has pushed Melbourne’s median house price to $903,859, exceeding the $900,000 mark for the first time and narrowing the median price difference between Melbourne and Sydney to a three-year low. House prices in Melbourne grew 3.2% over the quarter and 11.3% over the year, resulting in Melbourne’s fifth consecutive quarter of double-digit annual growth.  
Similarly, Melbourne’s unit market delivered strong results over the December quarter, increasing by 2.8% to reach a record high of $506,079. This reflects a healthy 8.0% annual price jump, the strongest annual gain for the Melbourne unit market in seven years.  
“As investor activity retreats and the housing market adjusts to tighter lending standards, it remains to be seen whether Melbourne’s remarkable price growth will continue. However, steady population increases and government incentives may support ongoing demand as the year unfolds,” said Powell. 
“Similar to Sydney, first home buyer numbers in Melbourne have risen, recording its highest level of activity since 2009. This can be attributed largely to the Victorian government’s entry-level buyer incentives. In the coming months we are likely to continue to see a higher demand for entry-level homes, helping to drive price growth at the lower end of the market, as well as support regional price movements throughout the state.” 
Brisbane
Over the December quarter, median house prices in Brisbane decreased slightly by 0.6% to $548,918, the second consecutive quarter of decline for the capital city. This has slowed the annual price growth to a margin increase of 0.4% year-on-year, the lowest rate of advancement in five years.  
Brisbane’s heightened supply continues to impact price movement in the unit market, with units recording a decline of 2.2% over the December quarter to $385,955 — a 4.5% drop compared to last year. Unit prices in the capital city are now at a four-year low.  
“Brisbane offers a large inventory of houses and units that fall under $500,000, and interstate migration has fuelled the Brisbane market over the past two years as out-of-state buyers head to the Sunshine State in search of a lower price point,” said Powell.  
“The surge of new apartments in Brisbane remains ahead of the demand, and although this continues to impact unit prices, population increases and a slowdown in new development starts and completions may work together to help balance the market.” 
<table class="domain-table" style="height: 235px; width: 314px;">
<thead><tr>
<td>UNIT</td>
<td>DEC 2017</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$736,879</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$506,079
</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$385,955
</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$315,794
</td>
</tr>
<tr>
<td>Perth</td>
<td>$369,402
</td>
</tr>
<tr>
<td>Canberra</td>
<td>$426,124
</td>
</tr>
<tr>
<td>Hobart</td>
<td>$318,467
</td>
</tr>
<tr>
<td>Darwin</td>
<td>$395,279
</td>
</tr>
<tr>
<td>National</td>
<td>$557,794
</td>
</tr>
</tbody>
</table>
Adelaide 
Adelaide house prices rose slightly by 0.9% over the December quarter to reach a median price of $522,815. This reflects a 3.5% increase year-on-year. 
For the second consecutive quarter, Adelaide’s median unit price of $315,794 is the most affordable of the capital cities. A heightened level of supply continues to undermine Adelaide’s unit prices, which declined by 1.6% over the quarter — the second steepest quarterly decline after Brisbane. However, unit prices are up 2.0% over the year. 
“Adelaide has avoided the extreme price surges impacting Australia’s east coast markets. Its steady pace of growth and diverse coastal lifestyle makes it a reliable location for buyers heading into 2018,” said Powell. 
Perth 
A marginal 0.5% increase over the December quarter has pushed Perth’s median house price to $557,567 — 2.5% lower than the previous year. 
Lower levels of construction have buffered the local unit market in Perth, which improved by 1.0% to reach $369,402 over the quarter. However, year-on-year the city recorded a 1.7% drop. 
“After multiple consecutive quarters of house price declines and fluctuating unit prices, the Perth market is showing signs of growth. The annual pace of decline in Perth house prices has slowed compared to the steeper falls recorded in 2016, and the annual unit price decline is at its lowest in almost three years,” said Powell.  
“Perth’s housing market outlook for 2018 depends largely on whether the city’s economy and population track upwards throughout the year.” 
Canberra 
Houses in Canberra reached a record high median price of $753,516 in December, recording a 5.0% quarterly increase and an 8.4% annual increase. 
Canberra unit prices are beginning to show signs of recovery increasing for the second quarter by 0.1% to $426,124 in the three months to December. This is 0.4% higher than last year. 
“Canberra house prices have been tracking upward for 15 consecutive months, delivering the second-best performance this quarter after Hobart. Renewed buyer and seller confidence has provided the nation's capital with a substantial price boost that will likely continue throughout 2018,” said Powell.  
“Housing finance, retail trade and strengthening business confidence has been key to driving the ACT economy, in addition to spikes in tourism, infrastructure and capital initiatives have stimulated business, contributing positively to the economy.”
Darwin 
Darwin recorded its second consecutive quarter of negative price movement, falling by 2.6% and reaching an eight-year low of $565,696 over the December quarter. This follows an annual decline of 7.4% over the year. 
Although median unit prices in Darwin remain 14.0% lower than last year, the unit market spiked over the quarter, jumping 9.3% to reach a median of $395,279. This is the highest quarterly price increase of all the capital cities. 
“Darwin was the only capital city to record a median house price decline over the quarter and over the year, and a strengthening in the local market depends primarily on the state of the economy as we head into 2018,” said Powell.  
“Despite the recent uptick in prices, annual trends in Darwin’s unit market are still on double-digit decline. The oversupply of unit stock in the city is impacting the market, and price drops have been a consistent trend for Darwin since December 2016.”
Hobart 
Over the December quarter, Hobart house prices surged 10% to a record high median of $443,521. Hobart was the only capital city to record double-digit growth quarterly and annually, with a 17.3% increase year-on-year. 
Despite a minor decline of 0.8% over the quarter, unit prices in Hobart jumped 14.2% to reach a median of $318,467. Hobart recorded the strongest annual growth of all capital cities in both houses and units. 
“It has been over a decade since Hobart experienced such a surge in house prices over a quarter, and the capital city’s results over the December quarter highlight the growing demand for homes in the Tasmanian capital,” said Powell. 
“Despite the surges in price, Hobart still has the lowest median house price of all the Australian capital cities, and it remains a great option for buyers seeking an urban lifestyle with an affordable point of entry.”
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/31/unnamed.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Price gap narrows between Melbourne and Sydney: Domain 

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Campsie was the second suburb in the CoreLogic list of the top 10 Sydney suburbs with the lowest median value with 10 kilometres of the CBD. 
There was a median value of $608,394 in the inner west suburbs.
There were an annualised 339 sales over the period.
A two Campsie apartment that has just gone under contract was priced at <a href="https://www.realestate.com.au/property-unit-nsw-campsie-117803103" target="_blank">$629,000</a> (pictured above). It last traded for $548,000 in 2014.
Another two bedder on Hill Street sold at<a href="https://www.realestate.com.au/sold/property-unit-nsw-campsie-126805262" target="_blank"> $639,000 </a>earlier this month. That last sold for $386,000 in 2013.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/22/SYD%206.jpg" alt="">
A two bedroom apartment has been sold for $583,000 in January. The <a href="https://www.realestate.com.au/sold/property-unit-nsw-campsie-126949770" target="_blank">32 Dryden Street top floor apartment</a> sold tenanted at $480 per week having last traded for $330,000 in 2003.
Another Campsie apartment was sold by Peter Kassas and George Arrage from Raine &amp; Horne last year for $605,000, taking just seven days to sell.
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-campsie-126807930" target="_blank">Claremont Street unit</a> came with two bedrooms and one bathroom. It has rapid access to Sydney airport and the Inner West.
 
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Campsie among Sydney's top 10 cheapest unit values within 10km of CBD

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Beecroft ranked fourth last year in the CoreLogic top 10 Sydney suburbs with the greatest annual change for units.
There was a median value of around $1.03 million in the upper North Shore suburb. There were an annualised 33 sales over the period.
The 12-month change was 31.7%.
Townhouses styles offerings are currently on the market off the plan on Copeland Road priced at<a href="https://www.realestate.com.au/property-apartment-nsw-beecroft-127235354" target="_blank"> $1.03 million</a>.
They are designed by Paul Meyer.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/22/SYD%208.jpg" alt="">
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Beecroft units prices rocketed into Sydney's top 10 suburbs in 2017 

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The Sydney residential land market is estimated to have peaked in terms of prices as well as lot production over 2016/17, according to BIS Oxford Economics.
Constrained affordability (the worst across all cities), the erosion of the dwelling deficiency as well as regulatory measures aimed at cooling investor activity have all played a part in reigning in demand.
“Rapid growth in the median house price was not matched by the rises in the median land price over the three years to 2014/15, improving the equation for the purchase of new houses relative to established stock,” said BIS Shrapnel’s senior manager of residential property market research Angie Zigomanis.
“However, land prices saw significant growth over 2014/15 and 2015/16, narrowing the gap and driving some demand back into the established market.”
As such, demand for new houses is expected to have topped out. A total of 11,200 lots were released in 2016/17 with this forecast to be a record high.
Despite the expectation of a downturn, the fall in lot production is likely to be moderate.
Off-the-plan purchases occurring in the current market, as well as low interest rates, will provide some support for lot production and land prices, as will a greater deficiency in the detached house market relative to the Sydney apartment market. 
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Sydney land market has peaked: BIS

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The cooling in the Sydney property market reflected a combination of factors, including increased supply of new dwellings, some tightening of credit conditions, higher interest rates on loans to investors and some reduction in offshore demand.
That's the conclusion of the RBA governor Philip Lowe, speaking at the annual dinner of the Australian Business Economists in Sydney on Tuesday.
"The increasing unaffordability of prices for many people has also probably played a role," he added in a speech tonight to economists.
In Melbourne, where the population is growing very strongly, Lowe suggested housing prices are still increasing faster than incomes, although the rate of increase has slowed.
"Elsewhere, housing prices have been little changed over recent months.
"Conditions are subdued in Brisbane, where the supply of apartments has increased significantly, and remain weak in Perth, owing to slowing population growth following the unwinding of the mining investment boom."
After noting the state of price growth in the capitals Lowe advised it was "important to be clear that the RBA does not have a target for housing prices."
But he added that "a return to more sustainable growth in housing prices does reduce the medium-term risks.
"These risks have not gone away, but the fact that they are not building at the rate they have been is a positive development."
While suggesting the central bank's next move in official interest rates is more likely up than down, Dr Lowe said there were still too many people out of work and inflation was set to remain below the 2-3 per cent target through to 2019.
"There is not a case for a near-term adjustment in monetary policy," he said.
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Melbourne housing prices still increasing faster than income growth: RBA

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There are nascent signs Chinese foreign buyers have tuned down their enthusiastic buying of Sydney property.
There are three pinpointed causes.
Firstly Beijing has narrowed the window for capital outflows to Australia.
At the same time, Australian banks have tightened lending criteria to Mainland China investors due to APRA regulatory requirements, and in some cases won't lend to foreign investors at all.
This week Chinese local and international estate agents reported a sharp drop-off in sales over the last six weeks as new property taxes took effect after the NSW State Budget.
From July 1, NSW doubled the stamp duty on foreign buyers to eight per cent and increased the land tax surcharge from 0.75 per cent to two per cent.
It's a little too early to say the allure of Australian property has gone, but the Chinese language property portal Juwai.com calculated searches on Australian property for sale are down a third in the first six months of 2017 compared with the second half of last year, while global searches were up.
The emerging trend coincides with a warning from a former US Federal Reserve official that our economy could be at risk from a housing market downturn if Chinese buyers retreat from residential property.
Dr Nellie Liang, who was in Sydney recently to share her views on financial stability with the Reserve Bank of Australia, said a "trigger" could be a reversal in international capital flows.
Dr Laing suggested "when you have the outsiders buying properties, if the outside money pulls out and prices fall, there's innocent bystanders who took on debt and end up underwater, which could lead to defaults."
“China is such a big economy now, and they have links to other countries, including to Australia and Canada through the housing markets, that people need to be thinking about," said the senior fellow at the Brookings Institution in Washington. 
Twenty per cent moves in house prices isn't crazy anymore, Dr Laing even suggested.
The National Australia Bank property expert panel calculated foreign acquirers in the combined established and new property markets represented 17 per cent of all apartment buyers and 11 per cent of house buyers in the June quarter. 
Chinese buyers make up the largest percentage.
Some experts believe official figures underestimate the real extent of foreign money pouring into Australian real estate because Chinese Australians and permanent resident holders act as conduits to buy property for friends and family back home.
Sydney has certainly enjoyed a stellar run with Chinese purchases, but a 50 percent sales outcome at last weekend's major Sydney CBD off the plan offering was the lowest take-up in many years.
And there are still record numbers of new apartments approved and likely to come onto the market. 
Hopefully the cooling trend in Chinese buying interest is more a pause rather than a conclusion.
This article first appeared in the Daily Telegraph.
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Signs Chinese foreign buyers have tuned down their enthusiasm for Sydney property

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The Maroons legend Johnathan Thurston retains a toehold in the Sydney property market - and last month quickly found a tenant for his vacant Leichhardt investment apartment.
He bought the one bedroom apartment shortly after he headed north to the North Queensland Cowboys.
It cost $370,000 off the plan in 2005.
He spent the previous two years at the Canterbury Bulldogs, scoring 10 tries in 29 games which included winning the 2004 Grand Final.
The split level Hay Street unit was offered unfurnished on a six or 12 month lease for $480 a week through Bentons Annandale agent Phil Treuen.
An open plan living area opens to a balcony in the small 45 sqm apartment which was last up for lease at $480 a week late last year. 
CoreLogic puts one bedroom units in the suburb sitting at a $586,000 median price with a $430 median rental.
Thurston's long time manager Sam Ayoub, who spotted the star's skills when he was a teenager, retains a holding in the Hay Street complex he helped co-developed.
The apartment is Thurston's only property in Sydney, however he owns four investments in Queensland.
The Cowboys skipper has called Rowes Bay home since 2013, just north of Townsville having paid $1,221,600 for the five bedroom home near the water.
The investment portfolio which he kicked off in 2006 now tally some $1.8 million in acquisition costs.
Thurston is back in to the Maroons side for the second Origin game on Wednesday having missed the first game with a shoulder injury.
He was the only player to play in all 24 games of Queensland's eight-year State of Origin winning streak from 2006.
He has played 36 consecutive Origin matches since his debut in 2005.
This article first appeared in the Sunday Telegraph.
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Maroons legend Johnathan Thurston finds Sydney tenant

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Sydney's most stylish mother-daughter fashionista duo, Claudia and Vivian Chan Shaw, have sold their Woolloomooloo terrace after three decades of ownership.
It was the <a href="https://www.realestate.com.au/sold/property-terrace-nsw-woolloomooloo-125560202" target="_blank">Dowling Street headquarters</a> where they ran their knitwear fashion business.
Vivian Chan Shaw, who began her fashion career in the 1960s, was the queen of Australian knitwear. She had her first salon under the Sydney Hilton in the early 1970s and then a store in the Queen Victoria Building for 28 years until 2014.
Claudia Chan Shaw appeared for many years as a panellist on the ABC series Collectors.
With period features including lacework, high ceilings and sandstone wall components, it sold for $2.21 million through Geoff Cox and Jason Boon at R&amp;W Elizabeth Bay.
The four level Victorian terrace zoned commercial mixed use last sold in 1987 for $180,000.  
This article first appeared in the Sunday Telegraph.
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Legendary knitwear queen Vivian Chan Shaw sells Woolloomooloo terrace

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GUEST OBSERVER
Measures including toughening the requirements for interest-only loans and property investments in self-managed super funds introduced in March have reduced the number of investors purchasing property in Sydney by 20% and helped cool the market.
Investors comprised more than 50% of the entire Sydney market in 2016 but have started to level off this year, which I largely attribute to APRA’s tightened macro-prudential measures.
Many experts believe we shouldn’t interfere with the market and simply let nature take its course, but I feel that this laissez-faire approach would have had dire consequences.
Although there are several factors at play, the excessive number of investors in the market was primarily responsible for the recent exponential price growth, so it is encouraging to see the further tightening is putting the brakes on the investor boom – which is what the measures were designed to do.
But, Australians should not expect a market crash. 
I believe the market has now plateaued, which was inevitable as prices couldn’t continue to rise indefinitely but this shouldn’t be a reason to panic.
We must caution against the inevitable scaremongering, and maintain some perspective because we are looking at the aftermath of the investor ‘boom’, but that doesn’t mean we are heading for a crash.
Sydney prices will remain strong for the short- to medium-term, and will naturally realign and readjust over time.
I remain very optimistic about the Sydney market. We will see a correction in prices but there are so many variables, making it difficult to forecast.
Over the past 18-24 months, we’ve witnessed prices across most Sydney suburbs rise at the same pace, which is quite unusual, so we could see this start to adjust and become nuanced.
Starr Partners has seen a shift this year amongst investors in Sydney, with many now starting to set their sights on areas such as the Newcastle and Hunter regions.
The APRA measures were designed to encourage lending institutions to be more prudent, not necessarily to solve the housing affordability crisis.
With these measures having taken hold, I’m hopeful we will see the return of natural market equilibrium, with higher numbers of first home buyers and other owner occupiers, which we are already starting to see at our open for inspections and auctions.
In saying that, investors will still be competing for property amongst these buyers – as they have always done. A bump in the road won’t be too impactful for experienced investors. Normally, they are very sensible in their approach, they have enough capital in their investment portfolio and carry a long-term view.”
Following APRA strengthening its policies, the federal government’s recent budget announced tougher rules on foreign investment such as removing the main residence capital gains tax exemption and an annual foreign investment levy for future foreign investors who fail to occupy or lease their property for at least six months each year.
It also revealed plans to restore the requirement that prevents developers from selling more than 50% of new developments to foreign investors.<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn1"></a>
Despite this, more could be done to curb investment from non-residents, given the action taken to restrict investor spending for residents. 
My one lingering concern is that the new measures could pave the way for more foreign buyers.
Although I welcome the recent introduction of tougher rules on foreign investment, I’m not convinced that these measures are enough.
We have gone to great lengths to curb investor spending for residents, so shouldn’t we be doing the same for non-residents?
However, my fears could be allayed, with reports out of China suggesting its new regulatory crackdown on capital outflows is really starting to work.
Douglas Driscoll is CEO of real estate group Starr Partners and can be contacted <a href="https://www.starrpartners.com.au/" target="_blank">here</a>.
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Sydney property investor activity drops by 20% - but don’t expect a crash: Doug Driscoll

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<img src="https://counter.theconversation.edu.au/content/77959/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Sydneysiders are concerned that foreign investors, and particularly Chinese real estate investors, are pushing up housing prices, according to survey findings published this month. 
A majority believed foreign investors should not be allowed to buy residential real estate in Sydney.
The federal budget was the government’s latest attempt at navigating a policy solution that supports its pro-foreign investment position while responding to public concern about housing affordability in Australian cities.
China’s government is also searching for a policy solution to restrict the large amount of capital that’s flowing out of the country. But the Chinese crackdown “doesn’t appear to be working”.
We surveyed almost 900 Sydneysiders to investigate their views on foreign real estate investment. The effectiveness of government regulations on foreign investment and investors was a major concern for respondents.
Views on government regulations
The survey obtained the views of people aged over 18 living in the Greater Sydney region. They were asked about housing affordability, foreign investment, the drivers of Sydney housing prices, and perceptions of Chinese investors specifically.
Support for the government’s regulation of foreign investment in housing was weak. Only 17% of respondents thought it was effective.
<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.10.10%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.10.10%20AM.png" alt="">
 
Source: Public Perceptions of Foreign and Chinese Real Estate Investment: Intercultural Relations in Global Sydney
Almost 56 percent of participants believed foreign investors should not be allowed to buy residential real estate in Sydney. Only 18 percent believed this should be permitted.
More than 63 percent of participants disagreed that the “government should encourage more foreign investment in greater Sydney’s housing market”. Only 12 percent of participants agreed with this.
These views stand in stark contrast to the government’s geopolitical support for foreign investment in Australia.
Views on foreign investors
There is little fine-grained data about the impacts of foreign capital and investors on specific neighbourhoods and developments in Australian cities. Therefore, we did not set out to compare public attitudes against the limited empirical evidence on the effects of foreign real estate investment in Sydney.
What’s significant about the survey results is that Sydneysiders have strong views on foreign investment, despite the absence of reliable evidence. Participants’ concerns about foreign investors and investment were consistent with their concerns about the government’s foreign investment rules.
Around 63 percent of Sydneysiders identified the Chinese as the heavyweights of foreign investment. This is likely to be accurate, given the concentration of Chinese investment in Sydney and Melbourne.
When presented with the statement “I welcome Chinese foreign investors buying properties in my suburb”, more than 48 percent of participants disagreed.
Other studies, however, have shown the potential for public confusion between domestic Australian-Chinese and international Chinese buyers.
Views on the drivers of housing prices
Respondents were asked to choose up to three drivers of house prices based on their understanding of Sydney’s housing market. By far the most commonly nominated driver of house prices (64 percent of respondents) was foreign investors buying housing.
<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.11.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.11.43%20AM.png" alt="">
Source: Public perceptions of foreign and Chinese real estate investment: intercultural relations in Global Sydney 
Roughly one in three survey participants saw low interest rates (37 percent of respondents) and domestic home owners (32 percent) and investors (32 percent) as the drivers of higher housing prices. Local housing analysts generally agree with this.
But more than three in four participants (78 percent) agreed with the statement:
Foreign investment is driving up housing prices in greater Sydney.
When framed inversely, as “Foreign investment has no impact or very small impact on greater Sydney’s housing market”, more than two-thirds of participants (68 percent) disagreed with the statement.
Only 6 percent of our participants disagreed that foreign investment was increasing real estate prices. Around 11 percent agreed that foreign investment had no or minimal impact.
Views on housing supply and affordability
We expected people to report that foreign people and capital are driving up housing prices and making it more difficult for Australians to compete in the housing market. But we were surprised by the findings about Sydneysiders’ views on foreign capital and housing supply.
A strong message from the real estate and property development industries is that foreign investment increases housing supply, which in turn puts downward pressure on prices.
Politicians and lobby groups argue this will help improve housing affordability in major Australian cities. But many housing analysts argue that this supply solution does not stack up for purchases made by either foreign or domestic investors.
It seems that Sydneysiders don’t accept the real estate industry message about foreign investors increasing housing supply, and therefore helping to ease housing affordability pressures.
When asked if “Foreign investment can help increase housing supply in greater Sydney”, 48% of participants disagreed with the statement. Another 25% “neither disagreed or agreed”.
An unresolved policy dilemma
The government’s dilemma is how to manage foreign investment alongside an increasing housing affordability problem in major Australian cities.
This month’s federal budget included a crackdown on foreign investors, but the government still supports foreign real estate investment.
Our survey results support other studies that suggest this pro-foreign investment stance must be accompanied by strategies to protect intercultural community relations. This must happen alongside efforts to improve housing affordability.
 
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">Dallas Rogers</a> is Senior Lecturer, Faculty of Architecture, Design and Planning, University of Sydney.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
<a href="https://theconversation.com/profiles/alexandra-wong-378393" target="_blank">Alexandra Wong </a>is Engaged Research Fellow, Institute for Culture and Society, Western Sydney University. <a href="https://theconversation.com/profiles/jacqueline-nelson-134741" target="_blank">Jacqueline Nelson</a> is Chancellor's Postdoctoral Research Fellow, University of Technology Sydney.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
All are authors for The Conversation.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"> </a>
 
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