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

Terry Ryder

<html><body>
Politicians have a great appetite for exercises that chew up lots of time and money for little purpose other than to attract spotlight and give the impression that they’re doing something.
The current federal inquiry into housing affordability is a classic of the genre. Let’s galvanise the nation with a talkfest about a non-existent problem. We can stretch it out over many months, with regular media events, and really make it look like we’re on the ball and genuinely care.
Sir Humphrey Appleby would be proud.
But the Yes Minister icon would be fit to burst at the latest effort of the Queensland government.
It’s only taken them two and half years in government, but they’ve finally come up with it: a vision for the state.
Not just any vision. This is a blueprint for what Queensland will look like 30 years from now.
As we’ve seen regularly in state and federal politics, most governments can’t estimate the state of their own budget one year ahead, let alone the state of play in 30 years’ time.
But this is not about reality. This is about creating an illusion. The delusion that Campbell Newman and his crew are actually in charge of the state’s destiny.
The current Queensland government is busily turning a landslide into a mudslide. They hold almost all the seats in the Parliament but still manage to look like they’re under siege a lot of the time, fighting for their lives.
Labor, almost wiped out in the 2012 state election, has just won a by-election with a swing of 18.6%, after winning a February by-election with a swing of 17.2%.
Queensland unemployment has risen sharply and, at 6.8%, is well above the national average and the highest in 11 years. Economic activity, as measured by state final demand, has fallen recently. Queensland got a mediocre rating in the latest State of the States report from CommSec, well behind the growth leaders Western Australia, the Northern Territory and New South Wales.
So it’s a good time to create a diversion, more for their own benefit than the publics’. As Sir Humphrey observed, politicians don’t believe they exist unless they read about themselves in the paper.
But what a pointless exercise. Why create a 30-year plan when you won’t be around to implement it? The current mob is unlikely to be in government even four years from now, given the extraordinary volatility in the electorate.
Newman won’t be Premier in 2024, much less in 2044 which is the ultimate destination of this plan - during which time there will be a dozen new governments, each with its own deep vision and long-term plan.
So why bother with this window dressing? Why publish a plan that you have no chance of implementing?
And why get excited about it as journalists, consumers, businesses and developers?
But some have. Media lapped it up and one newspaper came up with this: “A wave of housing demand in Queensland areas such as Gladstone is expected to flow from The Queensland Plan …”
One development company latched on to this to promote the “masterplanned community” it’s developing in Gladstone. It said Gladstone had emerged as a growth area recently.
In reality, the only real estate factors growing in Gladstone at the moment are the vacancy rate (around 7%) and the consternation of investors who own property there. Prices have 10% in the past 12 months and it will get worse when the construction phase of the three mega gas projects winds down.
There are plenty of Queensland places worthy of consideration by investors, including Toowoomba, Cairns and the Sunshine Coast – each of them growing strongly for local reasons. Toowoomba, as I discussed earlier in the week, is arguably the nation’s strongest property market. Cairns is pumping in a way not seen since the 1980s and the Sunshine Coast is rising on the back of a big infrastructure spend.
None of this has anything to do with the 30-year “vision” that will be filed along with all the other political plans, never to be heard of or thought about again.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo courtesy of BBC Television.
</body></html>

terryryder-YECXbqmri2

Queensland's "30-year vision" a plot worthy of Yes Minister

<html><body>
I feel some sympathy for the people conducting the Senate inquiry into affordable housing.
Based on the media reports I’ve seen, they’re being served up a motley mixture of propaganda, misinformation and outright lies by organisations pushing their private agendas.
How will they sort the wheat from the chaff, given that most of what they’re being fed is chaff?
The representative bodies of elements of the real estate industry are simply presenting their wish lists on behalf of their members. Each one of them would have us believe that the solution to the problem is to give their members everything they’ve ever wanted.
Apparently first home buyers around the nation will rejoice if real estate agents can be helped to earn more commissions or developers can make more money faster.
Firstly, what is the problem? Or, more pertinently, is there a problem?
The premise of the inquiry is that young adults can’t afford to buy a dwelling. I’m quite certain that’s a false premise. It contradicts all the available evidence.
First home buyers appear to be less active than before. And it has been assumed – incorrectly, I’m quite sure – that this is solely because they can’t afford to buy. No one has considered that there might be another explanation, or several other explanations.
Last Friday I was guest speaker at a business luncheon. I addressed a number of topics under the heading – “Residential Property – the market no one really understands” – and there followed a long discussion of the issues.
The hottest topic was the motivation of young Australians with regards to home ownership. Many of those present – who have adult children and/or work with young adults – observed that most twenty-something Australians have little or no interest in buying real estate.
Affordability is not the issue. They simply have other priorities. I was interested to hear those comments, but not surprised because this has been revealed in several surveys in the past 12 months. Young adults, generally speaking, don’t want to repeat the life path of their parents, which included being married with kids and a mortgage before 30.
They want lifestyle and travel. They’re more inclined to invest in themselves than in real estate. One view expressed at the luncheon was that many would rather start a business than buy property.
There’s another factor. I think there’s more first home buyer activity that the figures show, because most state and territories have changed their grants system. Grants are available now for new homes only. But the research shows that most first timers buy established properties, because they’re considerably cheaper and often better located.
There are first home buyers out there slipping under the radar because they’re not claiming grants.
All of that is an inconvenient truth to builders, developers and real estate agents. They want politicians to believe there’s a crisis and they have to act to fix the perceived problem.
And the solution they’re presenting to the Senate inquiry is: give us what we want and the problem with go away.
The <a href="/expert-insights/investing/five-supply-reforms-that-will-assist-affordability-master-builders-australia">solution presented by Master Builders Australia</a> is to release more land, make approvals easier and faster, and reduce or eliminate infrastructure charges to developers – with penalties for governments that don’t toe the MBA line.
That’s not a solution. That’s the lifetime wish list of builders and developers across the nation.
The attitude of the Real Estate Institute of Australia is particularly interesting, because their statements contradict their own research. The REIA co-publishes a quarterly affordability index that shows that affordability is the best it’s been in over a decade. But it’s telling the Senate inquiry that there’s a big affordability problem and the government must act to fix it.
Either the REIA index is nonsense or their submission to the inquiry is. I’d love to know which they think it is.
The REIA claims there’s a national housing shortfall of 100,000 dwellings. Developer bodies make similar claims. But they don’t justify the claim. They demand that we accept it as fact, without presenting any evidence. I think it is real estate’s greatest myth (and have presented my evidence many times in this column).
So, the <a href="/expert-insights/buying/government-needs-to-stem-exodus-of-first-home-buyers-reia">REIA’s solution to the problem</a> their own index says doesn’t exist is to make lots of changes to ensure more property deals happen: assistance to first home buyers, access to superannuation to make buying property easier, retention of negative gearing for investors, abolition of stamp duties and release of more land.
It’s pure coincidence that all these measures are likely to line the pockets of REIA members around Australia.
At some point in time, developers, agents and other servants of the property industry will have to accept that this generation of young adults will never adopt the priorities of their parents. They have better things to do with their lives.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

Real estate industry bodies more concerned with lining their own pockets than easing affordability

<html><body>
Every week there’s more evidence disproving the notion of a national property boom and the even more fanciful theory of a bubble fit to burst.
You really don’t need to go much beyond the price figures, which show wide variations in the results from different capital cities, with growth ranging from negative to low to moderate to strong to boom.
But given the steady flow of bloopers from economists whose five-second media grabs last longer than the research they do - and the plaintive cries from the industry about the “exodus of first-home buyers” because of the affordability crisis caused by the housing shortage they’ve spent years fabricating – here’s some more information.
The Home Buyers Index from the Commonwealth Bank and RP Data suggests that most markets around the country favour buyers. In other words, most markets are not booming.
According to this index, when you look at things from a statewide perspective the ACT is the only jurisdiction with a sellers’ market. Four states have a “balanced market”, two others have a “buyers’ market” and one (Tasmania) has an “extreme buyers’ market”.
So there are four different situations across the eight states and territories – and only one has a market strong enough to be classified as a “sellers’ market”.
When they examine the situation in each capital city, there are three cities deemed to have sellers’ markets, three with balanced markets and two with buyers’ markets. Eight cities with three different scenarios.
I could spend all sorts of time critiquing the methodology and wondering how on earth they managed to perceive Canberra as a strong market when all other indications suggest it’s struggling – and noting that it’s based on March quarter data and we’re now in the September quarter, so it’s dated even before they publish it.
But the bottom line is that the report has found a whole range of different scenarios happening nationwide and only a small number of locations have a market worthy to be called boom. In fact, the national top 10 list of the strongest markets includes only four locations rated as sellers’ markets. The other six on the top 10 list are merely balanced markets.
A graph in the HBI report shows that markets have overwhelmingly favoured buyers over the past four years. Only four out of the past 50 months have been classified as sellers’ markets. This would tend to harm the case of those arguing for a price bubble.
Also recently published was Australian Property Monitors’ Rental Report for the June quarter, which found that only one capital city recorded growth in house rentals. On an annual basis, three cities recorded significant decreases in rentals, one city had no change, three had growth between 1.5% and 2.6%, and the best in the land was a 5.6% annual rise in Melbourne.
It’s a similar situation with apartment rents.
I can’t see any evidence there of a booming market, nor anything to support the strident claims of a dwelling shortage from developers who seek to use the fictional shortfall as ammunition to coerce politicians into making their lives easier, faster and cheaper.
Turning to those persistent claims about our dwellings being over-priced, Cameron Kusher <a href="/expert-insights/buying/inflation-adjusted-home-values-are-still-lower-than-their-previous-peak">wrote recently on Property Observer</a> that only Sydney among the capital cities has price levels (adjusted for inflation) higher than the previous peak.
In real terms, Sydney’s market is only 4.3% above the previous peak, which was 10 years ago. All other cities remain in deficit – most of them by more than 10%.
All cities have shown some kind of growth recently, according to these figures, but not enough to lift values to the levels of the previous peaks (the timing of which varies from city to city) and anywhere close to them
You have to work really hard to concoct a bubble out of this situation.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

You have to work very hard to concoct a property bubble when we're nowhere near a boom

<html><body>
About 18 months ago I started including Wollongong in some of the Hotspotting reports which identify markets expected to out-perform in the future.
This was at a time when the <a href="/news">Illawarra</a> was generally expected to be a non-performer. Indeed, some had predicted recession and a collapse in the property market there, because of recent economic bad news.
But <a href="/news">Wollongong</a> is a quality regional centre and I’ve been charting real estate markets long enough to know that good regional centres always fight back.
<a href="/news">Newcastle </a>did so after BHP shut down operations in the 1990s, reinventing itself and coming back stronger than before. I expected Wollongong to do likewise (just as I am confident <a href="/news">Geelong</a> will survive industry shutdowns and thrive in the future).
<a href="/expert-insights/investing/too-late-to-buy-sydney-try-wollongong-or-dubbo-tamworth-and-gunnedah-and-newcastle">Earlier this year I wrote</a> on Property Observer: “Wollongong has defied predictions that it would lapse into recession following economic reversals such as downsizing by Bluescope Steel. One hysterical headline suggested property values would fall 50%.
“But the Illawarra is the latest example of a regional community fighting back from adverse circumstances. A lot of infrastructure and property development money is pumping into Wollongong and real estate markets are rising.”
<blockquote>
Much of Wollongong’s improvement is due to its inherent qualities as a regional centre and the extent of new investment there.
</blockquote>
Now we have seen price data published which confirms that Wollongong has defied the dire forecasts made a couple of years ago.
Australian Property Monitors’ quarterly housing report credits Wollongong with a 7.5% rise in its median house price in the June quarter and an annual rise of 14%. The median has risen from $439,000 to $500,000 in 12 months.
Nearby markets also delivered solid annual increases, including <a href="/news">Shellharbour</a> (7%) and <a href="/news">Kiama</a> (12%).
I attribute part of the increases to a ripple effect from Sydney. As expected, regional centres close to the state capital have caught the Sydney wave.
But much of Wollongong’s improvement is due to its inherent qualities as a regional centre and the extent of new investment there.
The place has a lot going for it. There’s a substantial and growing population (the Illawarra region has around 275,000 residents), the proximity to Sydney, the seaside location, the strength of spending on infrastructure (including $1 billion on hospital facilities and $500 million at Wollongong University), and the significant investment in new property projects by national development entities like Lend Lease and Australand.
Australand’s Shell Cove is a $1.5 billion project. The total value of all the infrastructure and property developments on our lists for Wollongong is almost $5 billion.
Nothing drives property values like infrastructure spending, which generates economic activity, jobs growth and ultimately demand for accommodation.
The Wollongong has that factor working for it on overdrive.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

Nothing drives property values like infrastructure spending and Wollongong is in overdrive

<html><body>
The latest price data tends to support my view that we have not had, to this point, a national property boom; and that we may be about to have one.
Australian Property Monitors’ price data for the June quarter suggests only Sydney has had exceptional pride growth, both for houses and for apartments. All other capital city markets have had growth ranging from negative to low to moderate.
The APM figures are generally (though not completely) in line with those published by RP Data.
Let’s look at houses first. In terms of annual growth to the end of June, both data sources report a capital city average a little above 10%. Economists have looked at that and perceived a national boom, which provides further evidence of how desperately dumb they all are, on property matters at least.
Looking city by city provides a different perspective. Only one city has achieved the city average growth rate. Sydney’s annual growth was 16% (RP Data) or 17% (APM). The property boom starts and ends there.
Both sources agree that Melbourne has grown close to 10%, Brisbane around 7% and Perth around 5%. Depending on which source you prefer, Adelaide has grown 3% or 5%, Hobart 2% or 6%, Darwin 5% or 1%, and Canberra has grown 3% or dropped slightly.
There’s a similar pattern with apartments. The capital city average is annual growth of 8.3% (APM) or 9.1% (RP Data). But the only boom figures have been in Sydney, up 12% or 13%.
Melbourne has risen 4% or 5%, Adelaide about 1% and Darwin 7% or 8%, while Perth is up 5% if you believe APM or more if you favour RP Data.
There’s conflict with the data on the other three capital cities: Brisbane is up 5% or down 1%, Canberra is up 4% or down 2%, and Hobart is up 7% or down 8% - for reasons I don’t understand, there is always this great contradiction about the Hobart unit market in the figures from the two competing sources.
The bottom line is that there is no boom in those figures, except for Sydney. There is evidence aplenty of solid markets in most cities, but the growth rates are low to moderate (and, in a few cases, negative). Keeping in mind that there were several years of falling values pre-2013, the data makes nonsense of the bubble arguments from those suffering from limelight deficit disorder.
So no national boom – but, if you look more closely, evidence that one may be brewing. Looking at APM’s annual growth figures for the cities, if you compare the 30 June 2014 numbers with those six months earlier, you find that the growth rates have improved in most cities.
Adelaide grew only 3% in 2013 but six months later the annual growth rate has doubled.  Brisbane’s growth rate is up from 5% to 7%. The annual growth rates for Sydney and Melbourne have both grown two percentage points. Hobart has improved from 5% to 6%. Perth, Darwin and Canberra have deteriorated, but the city average has risen from 9.8% to 10.9% in six months.
According to the APM figures, all capital cities except Darwin showed improvement in their median house prices in the June quarter.
Similarly, most of the cities delivered growth in their apartment markets in the June Quarter, with an average rise of 2.5%. Only Hobart and Canberra fell.
The overall picture, therefore, is growth rates that are moderate - but rising.
Housing finance approvals are up 10.7% for owner-occupiers (with all state and territories rising strongly except the Northern Territory) and 27% for investors (with five states/territories recording annual rises above 13% and six states/territories recording monthly rises of at least 14% in May, the latest month for which we have figures).
Residential building approvals rose 17.4% in the 12 months to the end of May, with five states or territories recording annual rises above 20%.
There’s a pattern there suggests growing national momentum in property markets. The national price boom that was incorrectly perceived by myopic economists, and then inaccurately declared dead by those who rush to judgment, may be only just beginning.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

National price boom may be about to begin

<html><body>
In his latest Ryder Report, regular observer Terry Ryder takes on the so called "national property boom".
Unlike some other property commentators, Ryder doesn't believe Australia is in the grips of an emerging bubble or boom. Here are his 20 reasons why the country's boom isn't over yet.
1. "There is no national boom" For the market to bust, there would have to be a boom, and Ryder doesn't think we have one - outside of Sydney, anyway. He's previously criticised media outlets and <a href="/expert-insights/finance/the-rba-just-doesnt-get-the-housing-market">institutions like the Reserve Bank of Australia</a> for focusing too much on Sydney's market when generating national commentary. 2. "Sydney still has momentum" According to Ryder, any claims that Sydney's boom is over is "based on a single month's data", a <a href="/expert-insights/latest-media-fiasco-shows-exactly-why-monthly-movements-are-meaningless">criticism he's stated before</a>. He says: "buoyancy remains in Sydney's market". 3. "Melbourne still has momentum" Ryder says that a growing number of Melbourne suburbs are seeing rising sales activity, with even greater price rises likely to come. 4. "Brisbane just starting to rise" While the other Eastern Seaboard capitals are yet to reach their peak, Ryder says Brisbane is just getting started. "Brisbane is well behind Sydney in the current cycle and is only beginning its upward movement," says Ryder. He predicts prices will rise this year. 5. "Adelaide poised to grow" Ryder believes Adelaide "will be the surprise performer of 2014," with increasing sales activity across the city.
This list continues on the next page.
<hr class="system-pagebreak">
 
6. "Hobart starting to show life"
Despite "being ignored in national assessments", Hobart's market activity is also beginning to pick up, believes Ryder. 7. "Perth still has momentum" Although the city's sales have "plateaued" after a strong run in 2012 and 2013, Ryder thinks they remain "elevated", with possible future price growth. 8. "Darwin showing signs of revival" Despite signs of a slowing market last year, Ryder says Darwin appeared to pick up in late 2013 and early 2014. He believes prices in the city are likely to keep rising. 9. "NSW regional cities rising" Ryder thinks New South Wales' regional centres have picked up some heat from Sydney's market, or have their own local reasons for growth. According to Ryder, "their run is just beginning". 10. "QLD regional cities rising" Cairns, Toowoomba, the Sunshine Coast and the Gold Coast are leading the state's regional cities into "strong growth phases", according to Ryder.
 
This list continues on the next page.
<hr class="system-pagebreak">
 
11. "Other regional centres on the up"
Ryder says regional markets south of Perth are growing. He believes South Australian and Victorian regional centres are also picking up, as is Launceston in Tasmania. 12. "Sales volumes still rising" Ryder cites the latest update of his own Price Predictor Index which points to increasing sales volumes across the country, which he says "inevitably leads to price growth". 13. "Consumer sentiment improving" According to Westpac's July consumer sentiment report, there is a "healthy rise in confidence" regarding real estate, says Ryder. 14. "Budget news has been digested" "There was a brief period in May when decision-making halted as people digested the Federal budget we seem to have moved on," says Ryder. 15. "Building approvals are rising" Ryder notes that building approvals increased 16% in 12 months to April 2014, with South Australia, Western Australia, New South Wales and Queensland all leading.
This list continues on the next page.
<hr class="system-pagebreak">
 16. "Lending for homes still rising"
On an annual basis, lending for home loans is up 12%, says Ryder. He notes double-digit growth in six states and territories. 17. "Investor activity rising" Lending for investors is up by an even greater proportion, with 28% annual growth and 1.1% growth in the month to April. Investor lending has increased by 17% or more in five states (presumably annually), says Ryder. 18. "Asian investment growing" Though Ryder believes foreign buyers' impact on local markets is exaggerated, he does believe Asian investors are continuing to affect inner-city unit markets. 19. "Interest rates remain low" Ryder believes Australia's current record low interest rates are "unlikely to change in the near future". 20. "National boom is just starting" "Contrary to claims that 'the boom is over', all the evidence says that a national boom is really just beginning", claims Ryder.
</body></html>

jrichardson-uRX5hFdKfN

Terry Ryder's 20 reasons the country's property boom isn't over

<html><body>
Adelaide continues to deliver data suggesting a rising market – and further evidence that those who called the end of the so-called national property boom forget to look beyond Sydney.
The latest figures come from an analysis of Valuer-General’s data by the Real Estate Institute of South Australia. They confirm my own figures showing strongly rising sales volumes throughout Adelaide. The REISA report also provides evidence of the first signs of price growth.
This reinforces the findings of the Price Predictor Index, which suggest a rising Adelaide market in 2014.
I wrote <a href="/news/sa/adelaide-is-the-standout-market-and-opportunity-for-investors">on Property Observer last month</a>:
“The standout market for me at the moment is Adelaide. The South Australian capital has more forward momentum than most of the capital cities. Given that this has not yet translated into major price growth, it represents an opportunity for investors.
“South Australia is the only capital city which ended 2013 with sales volumes rising significantly and carried that into the early part of 2014. Some of our cities peaked, in terms of sales activity, in early or mid 2013. Some ended 2013 strongly but made a lukewarm start to 2014.
“But SA is really just beginning its run.”
The REISA report indicates a 6.2% quarterly rise in the number of houses sold in metropolitan Adelaide. It says the median price rose 4% to $415,000.
I would expect more growth to follow, given the strong pattern of rising sales volumes.
Adelaide and South Australia seldom get the credit they deserve. They only attract national headlines when something negative happens, like the deferral of the Olympic Dam resources project or the closure of a major manufacturing enterprise.
I think few investors realise how much is happening there, particularly in the area of new infrastructure spending and development of new property markets, such as urban renewal projects in the inner-city areas.
Adelaide has major infrastructure projects happening with rail links, road networks, hospitals, education facilities and sports infrastructure.
I commented about two years ago that Adelaide had more infrastructure developments under way than did Sydney. This is no longer true, as the NSW state government has initiated some major projects more recently, but Adelaide remains a significant centre for infrastructure spending, relative to its size.
As the year progresses, I expect to see more from the South Australian capital in terms of rising property markets and significant price growth.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

The data is in: Adelaide's on the move and I expect significant price growth

<html><body>
The Reserve Bank has been giving a rolling seminar on why economists don’t get real estate.
This has taken the form of speeches by the Guv, Glenn Stevens, and press releases on RBA research and opinions.
The RBA view of residential real estate is a bible for economists, containing various commandments with which most economists comply. They include:
<ul>
<li>There is just one property market in Australia;</li>
<li>Sydney is Australia;</li>
<li>Australians are naughty because they like to invest in real estate;</li>
<li>They’re even naughtier when they borrow to do it;</li>
<li>When property prices rise we’re all very naughty and deserve a smack;</li>
<li>We’re all stupid because we think property prices always rise;</li>
<li>Buying a home is, or should be, a financial decision and emotion or culture shouldn’t intrude;</li>
<li>Financially it’s smarter to rent so how come we all don’t want to rent; and</li>
<li>We’re not building enough houses because that’s what our charts say.</li>
</ul>
Stevens has been getting out and about delivering his core message, which I suspect he lifted from the pages of Real Estate for Dummies. This is - wait for it, drum roll please -“property prices don’t always go up”!
Many media outlets have breathlessly reported that Stevens “has warned home buyers that people should not assume that prices always rise”. Just in case we haven’t got it, he drives home the message with this thunderbolt of wisdom: “Sometimes they fall!”
This is why Stevens earns the big money. He understands things the masses do not.
Seriously, is there anyone in Australia above the age of 11 who doesn’t know that property prices sometimes fall? Maybe someone who’s been meditating in a cave in the Himalayas might have missed the general decline in prices from 2010 to 2012. In my experience, most Australians have a hyper awareness of the value of their home, especially when it’s in reverse.
These days we have not only quarterly and monthly price monitors, we have attention-seekers claiming they can chart weekly price changes, even daily. Pretty soon we’ll have minute-by-minute price barometers.
And all these sporadic movements in prices, both up and down, have been reported ad nauseum by a gullible media.
According to some sources, prices have dropped three times in the past six or seven months.
Why does Stevens think none of us have noticed? He has intoned the “prices don’t always rise” sermon several times recently. Obviously he doesn’t get the emails I get, from people who bought five years ago on the Gold Coast and watched their investment steadily decline in value. Or from people who own Noosa apartments. Or from people who bought during the Gladstone boom and are now dismayed at the drop in values. Or from those who own real estate in Mackay, Moranbah, the Hunter Valley, Port Hedland, Karratha and Broome.
Or people who own a home in Canberra, where values in some areas are now going south.
Another offering of economist-centric advice from the RBA is that we might all be better off renting than investing. According to an RBA research paper, it’s only if prices rise 2.9% or more annually that it may be worth owning your home.
I wonder why they bothered with this research. Nothing better to do? It’s only when you understand that this is the work of economists that it makes any sort of sense.
This really is at the heart of why economists struggle to understand real estate. They think it’s about economics. They get a tad vexed when it doesn’t behave.
Most households don’t give a damn whether home ownership makes economic sense or not. It’s not about economics. It’s about culture. It’s about how they want to live.
According to the logic of the RBA research, unless values are rising around 3% a year on average it’s not worth owning. On this basis, nobody should own a home in Sydney, because it’s capital growth rate over 10 years has barely managed that level. How have so many people got it so wrong?
The RBA paper speculates that price growth in the future will be less than in the recent past, in which case we ‘d all be better off financially if we rented.
One question: price growth where? Everywhere in Australia? Price growth everywhere will be too low to justify home ownership?
This brings us back to one of my original points - that one of the great weaknesses of the RBA and economists generally is that they see Australia as one homogeneous market. That’s why they’ve looked at the national average price growth figure - not for Australia, mind you, but for the eight capital cities - and concluded that because the city average is 10% Australia has been having a real estate boom, oblivious to the reality - that only one city has had growth that big.
They really don’t get it.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

The RBA just doesn't get the housing market

<html><body>
Terry Ryder’s most recent Price Predictor Index, June to September 2014, looks at Sydney’s fastest rising markets for units and houses across the suburbs.
Within the <a href="https://www.hotspotting.com.au" target="_parent">hotspotting.com.au</a> list, Property Observer selected the 17 opportunities for investors who are looking to enter into the market for $500,000 or less. We have included the suburbs available in alphabetical order over the page, as well as noting whether houses or units were on Ryder’s radar. The price provided is the median for the unit or house market in the respective suburb.
Ryder notes that while Sydney’s metropolitan star remains the inner-city market, the west and south west are continuing their rise to prominence.
The City of Sydney won the overall list, with six suburbs on the Rising Fast list, which numbered some 68 opportunities (some being the house and unit markets in the same suburbs), and seven on a subsequent Rising Steadily list.
The report notes that sales levels in <a href="/news">Darlinghurst </a>have doubled in less than 12 months, with <a href="/news">Chippendale </a>and <a href="/news">Haymarket </a>experiencing a similar result.
<a href="/news">Pyrmont </a>was also a performer, with a 110% sales rise in nine months.
“We are concerned that inner-city Sydney will eventually have a similar issue to inner Melbourne, where far too many apartments are being built, but at this stage Sydney has no apparent over-supply issues and demand for city units continues to rise,” the report notes.
However, beyond the CBD, it’s out west that is rising fast – and providing a more affordable entry point.
“Heading west from the City, the municipalities of Parramatta, Blacktown and Penrith are rising, while in the south-west Bankstown, Liverpool, Campbelltown and Camden all have strong markets,” explains Ryder.
Blacktown LGA continues its strong position, Penrith LGA also recorded good results and Parramatta LGA is a standout on the rising steadily and the consistent list.
Camden LGA, Bankstown LGA and Campbelltown LGA also managed to achieve strong rising market results.
Turn the page to see the 17 Rising Fast suburbs with median prices at $500,000 or less.
<hr class="system-pagebreak">
17 affordable Rising Fast markets
<ol>
<li>Auburn (U) $375,000 
</li>
<li>Bankstown (U) $365,000 
</li>
<li>Blacktown (H) $450,000 
</li>
<li>Camden South (H) $465,000 
</li>
<li>Cranebrook (H) $435,000 
</li>
<li>Greenacre (U) $469,000 
</li>
<li>Hinchinbrook (H) $500,000 
</li>
<li>Homebush West (U) $470,000 
</li>
<li>Ingleburn (H) $385,000 
</li>
<li>Jamisontown (H) $435,000 
</li>
<li>Jamisontown (U) $289,000 
</li>
<li>Kellyville Ridge (U) $440,000 
</li>
<li>Lakemba (H) $315,000 
</li>
<li>Liverpool (U) $300,000 
</li>
<li>Merrylands (U) $379,000 
</li>
<li>Roselands (U) $367,000 
</li>
<li>Westmead (U) $432,000</li>
</ol>
Source: hotspotting.com.au
Key:
(H) Houses
(U) Units
 
For more information on the report see <a href="https://hotspotting.com.au/reports/%20" target="_blank">Terry Ryder’s latest reports available here</a>.
</body></html>

jduke-EHk3XBmHkn

Sydney’s fastest rising markets under $500,000: Terry Ryder

<html><body>
The term "hotspot" was around long before I established my Hotspotting website eight years ago.
But today the word is bandied about with joyous abandon by way too many people, with fairly liberal definitions of what it means. 
For the record, I define a hotspot as a location which, for identifiable reasons such as infrastructure spending, will out-perform mainstream markets on price growth in the medium to long-term - and where it is currently a good time to buy. They are not places that will show flash-in-the-pan growth, with short-term spikes in the price graph, but locations with the fundamentals to deliver good growth over time.
It's important for consumer to understand that "hotspot" is used carelessly by press release writers and some media organisations which publish their work. Often, it is used to describe areas that have had strong medium price growth in the past 12 months past. By contrast, my purpose is to identify the strong locations of the future, which is of far greater value to property investors.
A current example is the reporting of a<a href="/expert-insights/investing/list-of-the-day-top-20-building-and-population-hotspots"> research document published by the Housing Industry Association</a>. This report pinpoints areas which have, in the recent past, experienced high levels of residential building and, as a result, new population growth.
In most cases, they are outer suburbs where new housing estates are being established.
This has been widely reported as a document identifying "real estate growth hotspots", which is both misleading and dangerous for investors who believe the locations highlighted are great places to buy.
Many of the top-ranked locations in this report are demonstrably poor places to invest.
Three of the top places in this report are in Canberra. They are suburbs with new housing estates, which is why they show up under the HIA's criteria of locations with high levels of new building and population growth.
But hotspots in terms of their potential for capital growth? Definitely not.
Right now, nowhere in Canberra is a hotspot under our definition. In stark contrast to Sydney, and one or two other cities, the Canberra market is stalled, with many statistics showing prices and rentals either stagnating or going backwards.
The federal government's spending cuts - which undermine Canberra's status as a place of high incomes and low unemployment - are hurting. There is more pain to come in this market.
It's important to realise also that the building approval and population data on which this report is based, was out dated even before the report was published. It focuses on the 2012-13 financial year, which is of limited interest or value now that we are into the 2014-15 financial year.
The report has interest, in terms of identifying the locations where new dwellings are being built, but these are not, in most cases, places that will deliver out-performance in price growth.
Accordingly, they are not the "hot real estate markets" described in many media outlets.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on<a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
</body></html>

Terry Ryder

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Terry Ryder

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News