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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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

Western Australia

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Advertising industry veteran Harold Mitchell has sold his cattle station empire in Australia's Kimberley region in Western Australia for more than $70 million, at a time when pastoral property values have been rising sharply. 
The sale of Yougawalla Pastoral Company includes APN Outdoor chairman Doug Flynn's stake as well. A Chinese businessman is understood to have bought the cattle stations, the Australian Financial Review reported.
Yougawalla Pastoral Company includes three main cattle stations spanning more than 850,000 hectares with about 45,000 head of cattle.
Mitchell declined to comment on the deal to the AFR, but the paper said he has already received approval from the Foreign Investment Review Board. 
The Pastoral Lands Board of Western Australia is still to approve the transaction.
KPMG and ANZ had been appointed in 2015 by Mitchell to sell the pastoral station.
It was reported earlier that Mitchell intended to sell up to 49 percent of his cattle station empire in Western Australia.
Yougawalla Pastoral also leases the 161,000-hectare Louisa Downs, the 141,000 ha Bohemia Downs, the 80,000 ha Carranya Station and the 182,000 ha Lamboo Station, but none of these properties are part of the deal. 
The timing to sell couldn’t be better with pastoral property values rising sharply in the last few years. 
The latest index shows values have risen 9.3 per cent in the last year. Major cattle station operator Australian Agricultural Company reported a 7 per cent rise in the value of its vast rural property portfolio in full-year results released on Wednesday.
Mitchell started buying during the financial crisis, picking up the main Yougawalla station for about $10 million. In 2011, he snapped up the 274,000 ha Bulka Station adjoining Yougawalla for about $9 million.
Then in 2013 when the live export cattle trade had been smashed and the drought and prices were squeezing the cattle industry, Mitchell shelled out $4.3 mil­­lion for another massive cattle station – the 177,100ha Mar­garet River Station with 6,000 head of cattle.
Mitchell, who played a vital role in negotiations with Indonesia on the live export trade, decided to sell after splitting with his wife of 50 years.
 
 
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jonathanchancellor-7SQnKwU6yx

Harold Mitchell sells WA cattle station for $70 million

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ANZ reported an interim cash profit of $3.4 billion for the half, an improvement of 23 percent - the prior year result having been hit by write-downs - but missing market expectations of a $3.5 billion result. 
The group's net interest margin was only impacted to a very small extent by funding costs, but did decline nevertheless.
ANZ announced rate hikes on investor and owner-occupier loans last week, with steep increases of up to 40bps on interest-only products (but some cuts being applied to principal and interest mortgages).
Over the next year we can expect to see lenders forcing borrowers away from interest-only loans as I looked at in more detail here. 
This isn't the place for a detailed review of the ANZ interim financials, but below I'll take a quick look at the home loan portfolio. 
ANZ's 90+ day home loan delinquencies have been relatively contained to date in the Australia division, though they have tracking at somewhat higher levels than seen in recent years. 
<a href="https://www.propertyobserver.com.au/images/2017/05/04/ANZ1.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/04/ANZ1.jpg" alt="">
A closer look at the portfolio performance for the Australia division reveals the concerning rate of deterioration in home loans that are 90 days past due in Western Australia.
Since 2013 home loans that are 90 days past due in the state have risen sharply from as close to zero as you will see across a loan book towards 1.4 per cent of home loans. 
<a href="https://www.propertyobserver.com.au/images/2017/05/04/ANZ2.jpg" target="_blank">Click to enlarge</a>
<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/2017/05/04/ANZ2.jpg" alt="">
Queensland has typically had a higher rate of delinquency than elsewhere since severe flooding in the state in 2010-11. 
Now more than half a decade on the flood-related delinquencies have mostly either been impaired or resolved, but loans that are 90 days past due remain higher than elsewhere in Australia due to the very poor economic conditions in many parts of regional Queensland.
Vacancy rates are also elevated in Perth and many parts of regional Western Australia and Queensland, a knock-on impact from the end of the resources construction boom.
The ANZ share price took a knock from yesterday's results, dropping by 2.12 percent by the close to $32.25. 
Genworth Mortgage Insurance (ASX: GMA) dropped 4.19 percent to $3.20 yesterday, having been down by 7 percent in early trade. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
 
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pwargent-M4siyDbqQY

WA home loan portfolio deteriorating: Pete Wargent 

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<img src="https://counter.theconversation.edu.au/content/76944/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The government shouldn't cave to WA's calls for a change to the way GST is divvied out. The current system has served Australia well.
Treasurer Scott Morrison has acceded to pressure from his Western Australian colleagues in announcing another review of the way GST is divided up among the states and territories. But the current system shouldn’t be tossed aside just because the WA government was unable to control its spending.
Australia has long gone much further than other federations in seeking to “equalise” the way state and territory governments provide public services to their citizens. That’s one of the principal reasons why the disparity in living standards between Tasmania (Australia’s poorest state) and WA (our richest), is a lot less than that between, say, Mississippi and Massachusetts in the United States or even Mecklenburg-Vorpommern and Bavaria in Germany.
The Grants Commission was established in 1933, this is the body that decides how much GST revenue the states get in our current system. Since its establishment right up until the year 2000, WA has been the main beneficiary of “horizontal fiscal equalisation”(HFE).
That’s the principle that GST is assigned by. It assumes each state and territory should be making an equal effort to raise revenue from its own sources and by being equally efficient in its spending, to provide the same range and quality of public services as every other state or territory.
However, since the early 2000s, WA has become Australia’s richest state. This is the result not of any particular effort on the part of successive WA state governments, but rather of China’s almost insatiable appetite for the iron ore with which WA has been uncommonly endowed.
Over the five years to 2014-15, WA’s per capita gross product (what it produced) averaged almost 50 percent above that of Australia as a whole. This is a margin without precedent in Australia’s history.
This enabled WA to raise far more revenue per head of population than it, or any other part of Australia, had been able to in the past. This is also why in recent years WA’s share of the revenue from the GST has fallen to such a low level, relative to its share of Australia’s population.
Between 2005-06 and 2015-16, WA’s share of the revenue from the GST fell by about A$2 billion, from A$3.8 billion to A$1.8 billion. But its revenue from mineral royalties rose by almost A$3 billion over the same period, from A$1.2 billion to A$4.1 billion.
Despite the sharp decline in its share of GST revenues, the WA government’s total revenue per head of population in 2015-16 was just A$67 (or 0.7 percent) below the average for all states and territories. By contrast, by 2015-16 the WA government was spending over A$1,000 (or 10.5 percent) more per head of population on “operating expenses”, than the average of all states and territories.
WA’s present fiscal woes are the result not of a flawed system of distributing revenue from the GST among the states and territories, but rather of its inability to control its own spending.
Although an equal per capita distribution of GST revenues has become commonly used as a benchmark by government for assessing redistribution, it’s never been generally accepted that GST revenues should be distributed on an equal per capita basis.
Neither the federal government, nor the states and territories, allocate their spending programs on an equal per capita basis. Nor do they collect revenue in that way. There is no reason why an equal per capita distribution of GST revenues should be regarded as some kind of desirable norm.
As you can see in the chart below, if you did allocate GST in equal per capita, according to my calculations Queensland, the North Territory, South Australia and Tasmania would lose millions. But it would give Victoria, NSW and WA more of the GST revenue.
<a href="https://www.propertyobserver.com.au/images/2017/05/04/4.05%20graph.jpg" target="_blank" style="font-size: 12.16px;">Click to enlarge</a>
<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/2017/05/04/4.05%20graph.jpg" width="600" height="223">
It would be akin to reducing the top rate of personal income tax, paid by those earning more than $180,000 per annum and raising the bottom rate, paid by those earning less than $37,000 per annum, to the same figure.
Allocating GST per capita like this is not based on need or any policy and is quite abitrary.
The questions in the terms of reference, that the Treasurer has given to the Productivity Commission, were answered almost five years ago by a similar inquiry. This was conducted by former NSW Premier Nick Greiner and former Victorian Premier John Brumby, together with Adelaide businessman Bruce Carter.
Even though these state premiers had voiced the same concerns as the current government about the way GST is distributed, their inquiry recommended against any radical changes. They found many of concerns about the current system turned out to be overstated.
And, contrary to the Treasurer’s insinuation that “the current approach of horizontal fiscal equalisation creates disincentives for reform”, the previous inquiry concluded there was not enough evidence of efficiency losses in the economy.
I doubt that the Productivity Commission will find differently. There is room, to be sure, to make the Grants Commission’s procedures less complex and more transparent. But the principle which has underpinned the Grants Commission’s recommendations for more than 80 years has served Australia well, and shouldn’t be tossed aside merely to salve the self-inflicted wounds of Australia’s richest state.
 
Saul Eslake is vice-chancellor’s Fellow, University of Tasmania and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/saul-eslake-665" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

WA’s economic mismanagement is not a reason to review how the GST is carved up: Saul Eslake

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Business confidence in the WA property sector has climbed to its highest level since 2014, according to the ANZ/Property Council Survey for the June quarter 2017, which revealed a 20-percentage point increase in the confidence index.
“These results point to an economic turnaround in WA led by proposed investments by non-mining businesses,” Property Council WA Executive Director Lino Iacomella said.
“The improvement in industry confidence is due to expectations that improved national economic growth will flow to WA, and a lift in forward work schedules and staffing numbers. 
A raft of major projects is proposed in WA, including shopping centre expansions, hotels and new infrastructure such as the Forrestfield-Airport Link.
The retail and retirement living sectors continue to lead the way with continued growth expectations.
Other sectors in the property industry are continuing to show declining growth expectations, however the outlook has improved with house price growth expectations close to stabilising. 
The property industry is looking forward to working with the new McGowan state Government to progress economic reforms, fast-track infrastructure planning and cut red-tape to ensure the major construction projects proposed for WA get off the ground,” Mr Iacomella said.
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j.ballantyne1990-6AQqhLzZaK

Confidence returning to WA property industry

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Outside of Perth there were 8,007 residential house and agricultural sales over the year to November 2016, only 3 more sales than the 12 months to November 2015, according to Landmark Harcourts’ latest Benchmark Report (<a href="https://content.landmarkharcourts.com.au/Content/Benchmark-Property-Data-Report" target="_blank">bit.ly/LHBenchmark</a>).
While the number of sales remains virtually unchanged over the year; the value of these sales fell -1.4% to $3.7 billion over the year.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.21%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.21%20pm.jpg" alt="">
In terms of the number of sales, 69.7% of all sales were residential properties, while in value terms, residential properties accounted for 55.2% of the total value of sales across regional Western Australia.
Compared to one year ago there were -5.5% fewer agricultural sales across regional Western Australia over the year to November 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.36%20pm.jpg" target="_blank">Click to enlarge</a>
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Of the 2,427 sales, the majority (65.7%) were on land sizes of less than 40 hectares, while 16.4% of transactions were on lots between 40 and 100 hectares.
15.3% were on between 100 and 1,000 hectares and 2.6% of sales were on land sizes larger than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.54%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.37.54%20pm.jpg" alt="">
Looking at the value of sales that transacted over the year to November 2016, agricultural sales accounted for $1.7 billion worth of sales, an increase of 1.1% compared to the same time 12 months ago.
Of the total value of sales, 43.8% were for properties on less than 40 hectares, 18.6% were for properties on between 40 and 100 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%202.38.05%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%202.38.05%20pm.jpg" alt="">
31.1 percent were for properties ranging between 100 and 1,000 hectares and 6.5 percent were for properties larger than 1,000 hectares.
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Western Australia's wheat belt rural sales market remains active

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The residential property market in the south-west of WA has weakened with reduced demand and values, however the market is quite mixed with some particularly sought after properties holding their values, according to a recent update from HTW.
The valuation firm says the volume of sales generally remains reasonable with adequate stock movement in most localities.
However, the top end of the market continues to be soft with an overall weak demand, the firms says.
“The exception is that there does seem to be reasonable demand for well-located properties that present to a high standard,” the report says.
The rural residential market is also continuing to slow with the majority of sales being below $1 million.
This market is experiencing extended selling periods and rents have fallen but are starting to stabilise while building activity has weakened.
“The slowdown in the state resource sector, continued weakness in the Perth property market and general uncertainty of the WA economy has promoted a downturn throughout the south-west WA real estate market,” HTW says.
“The extent of the downturn ranges from mild to moderate depending on the location and property type.
“As always is it difficult to predict future market conditions however we expect the year ahead could be more of the same or that the market may bottom out and stabilise.”
There are no significant drivers to suggest values will increase and there is limited demand from international buyers to spur the market in the region, the firm says.
It suggests the WA state government’s decision to increase the first home owner’s grant from $10,000 to $15,000 for 2017 could have a positive impact on the market.
“This is viewed as maybe having a stabilising effect but unfortunately the increase is unlikely to be high enough to overcome the negative factors influencing property values, for example the state’s high unemployment.
“We would recommend caution as some market segments are in decline and it remains unclear if the market has bottomed out.”
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-wa-bunbury-124819870" target="_blank">1/16 Wellington Street</a>, Bubury (above) has been listed from $350,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-carey+park-124389150" target="_blank">95 Wisbey Street</a>, Carey Park (below) has been listed for over $265,000.
<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/2017/02/27/95%20Wisbey%20Street.jpg" alt="">
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South-west WA property market conditions remain soft: HTW

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A real estate salesman in Western Australia has been banned for 15 years from the industry after being found guilty of fraudulent property deals which netted a profit of $5.4 million.
The State Administrative Tribunal (SAT) found Paul Anthony King guilty of 13 breaches of the code of conduct while working as a sales representative for his father’s real estate agency Colin King Real Estate, based in York.
It was operated by The King and I Pty Ltd.
Both Colin and Paul King were ordered to jointly pay $39,000 in costs incurred by Consumer Protection to prosecute them. The SAT did not have jurisdiction to impose a penalty against Colin King and The King and I Pty Ltd as their licences were not renewed by Consumer Protection in August 2014.
The sale of five lots of land occurred between 2008 and 2010 with Colin and Paul King acting as selling agents for three of them and introducing the ultimate buyers in each sale. The lots were first sold to an intermediary company controlled by another of Colin’s sons Michael King who was not a licensed real estate agent or sales representative.
The land lots were then immediately on-sold to Malaysian-based investors at substantially higher prices resulting in a $5.4 million profit that directly benefited Michael King. The original owners and the Malaysian-based investors were not aware of the on-sale arrangements.
The SAT found that the deal resulted in a significant loss to the original owners and Paul King’s ‘extremely dishonest and deceitful’ conduct was at the upper end of the range of seriousness. He had placed his own interests and the interests of related parties ahead of his principal by concealing from the sellers the existence of another buyer willing to pay a premium for the land. The tribunal said his misleading conduct was a fundamental breach of his duty.
The SAT added that Paul King was deliberately untruthful and his evidence was not credible as he sought to minimise his involvement in the deal to conceal his conduct from the tribunal, described as ‘calculated and sustained dishonesty’.
Acting commissioner for Consumer Protection David Hillyard said the long-term ban reflected the serious nature of the deceptive conduct.
“Paul King failed to act in the best interests of the sellers and the purchaser who became unknowingly involved in a fabricated on-sale scheme which was designed to ensure an intermediary company owned by his brother Michael made massive profits from the sales,” Hillyard said.
“The now proven involvement of his father Colin King in such a web of deceit has vindicated our action in August 2014 not to renew his licence, a decision upheld by the SAT last year.
“The fundamental obligations of the real estate industry’s codes of conduct require agents and sales representatives to act honestly, fairly and in the best interests of their clients at all times and this SAT order shows that there are serious consequences for anyone who breaches those obligations.”
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WA real estate agent gets 15-year-ban for land deal scam

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Mirvac’s flagship West Australian office tower, Allendale Square, has secured a range of retail tenants as it launches a new name for the precinct, Underground at Allendale Square.
The new tenants include 18 food, beverage and service businesses including Perth’s iconic Mary Street Bakery, Mo Espresso, Three Grains and Timeless Beauty.
Old favourites Lalla Rookh Bar and Eating House, Bellini Barber, Lunches Down Under and Zensaki are also available in the 1,600 sqm precinct.
The new name ‘Underground at Allendale Square’ was chosen to reflect the vision for the precinct, which is currently undergoing refurbishment, to create a vibrant retail hub for people to gather and connect. The refurbishment is expected to be complete in May.
<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/2017/02/01/Allendale_B40.jpg" alt="">
The precinct will feature improved access, seating and wifi. 
Mary Street Bakery is looking forward to opening their second city store at Allendale Square.
Co-owner of Mary Street Bakery, Michael Forde says, “The building’s great location and beautiful design caught our imagination. We already have a store at the western end of the city and thought there was a need for another store at the eastern end."
 
<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/2017/02/01/Allendale_D41.jpg" alt="">
The building will have a glass atrium and will open out onto the street.
<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/2017/02/01/Allendale_F19.jpg" alt="">
Mirvac’s group executive of Office MPT, Andrew Butler said, “With the Allendale Square office tower now over 95 per cent leased, Underground is set to become a thriving modern hub for workers to meet, dine and relax."
 
<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/2017/02/01/I01_34.jpg" alt="">
Mo Espresso general manager, Zac Barrett said, “The range of retailers that are going into Allendale Square and the vibrant vision for the development is what got us on board."
 
<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/2017/02/01/I02_Arcade_02.jpg" alt="">
The office tower at Allendale Square is undergoing an extensive refurbishment that includes a re-modeled lobby, brand new end of trip facilities, upgraded lifts and the conversion of level 31 to office space.
The precinct will be brought to life with a public artwork by artist Anne Neil and an architecturally striking glass canopy framing the entrance to the office tower, designed by Christou Design Group.
 
<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/2017/02/01/I03_Arcade_02.jpg" alt="">
Allendale Square is close to shops, bus stops and the Esplanade train station.
The leasing agents for retail are Jim Tsagalis and James Hopkins from Lease Equity, while office leasing is being handled by Warren Wright of JLL and Mark Clapham of Sheffield Property.
<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/2017/02/01/I04_Arcade_02.jpg" alt="">
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New tenants for Perth's Allendale Square retail precinct

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GUEST OBSERVER
A number of recently released statistics suggest that the Perth residential property market is primed for investment in 2017.
Key indicators offer reason to believe that Perth is moving through the bottom of its current residential property cycle, and investors may be able to capture the full benefits of the next upswing by acting in the coming months.
Some positive signs in the market are contributing to an overall shift in sentiment amongst buyers, with many feeling optimistic about 2017.
Smart investors know that now is a great time to buy in Perth, but as we’ve always said, selecting the right property type in the right area is also very important, and at the moment there are some very attractive opportunities out there for savvy investors.
Stronger numbers
The latest data released by the Real Estate Institute of Western Australia (REIWA) shows that Perth’s preliminary median house price for the December 2016 quarter did not change at $520,000, which is a positive sign as historically once all sales have settled, this preliminary median generally increases, so Perth could in fact record an increase in price over the quarter.
Sales activity is increasing with the preliminary dwelling sales for the December quarter 2016 five per cent higher than the same time in 2015. For the week ending 31st of January 2017, property listings were down about 2 percent year on year, indicating that some of the excess supply in the market is starting to be absorbed.
Furthermore, CoreLogic’s recently released RP Data report revealed that Perth dwelling prices improved by .2 percent in January contributing to a 2.1 percent rise over the past three months, adding to conjecture about the beginning of a recovery after a long period of negative growth.
Great time to buy right
Buying strategy is just as important as timing in order to maximise the benefits of any approaching upswing. Investors who examine potential demographic, social, infrastructure and planning changes will have the best chance in purchasing a property that will outperform the market.
For example, in 2007, our research team identified the City of Belmont as an investment grade suburb with strong short and long term growth drivers exposing many of our clients to the rapid price growth that occurred in this area.
The report explores some of the research and resulting strategies the company employed to capitalise on investments in Belmont.
With stock of listings still comparatively high, interest rates at record lows and affordability amongst the best in the nation, the current market presents excellent buying conditions in 2017:
Investors who can identify a good long term growth property and negotiate a favourable deal should purchase now to realise significant price growth in the future.
Damian Collins is the founder and managing director of Momentum Wealth and can be contacted <a href="https://www.momentumwealth.com.au/damian-collins/" target="_blank">here</a>.
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Perth primed for smart investors: Damian Collins

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Six out of the 12 locations across regional WA experienced positive median house price growth in the December quarter 2016.
REIWA President Hayden Groves dubbed it an optimistic sign for the regions.
Preliminary Landgate data shows the median growth up 1.4 percent over the quarter to $355,000.
Although sales activity in Northam was subdued in the December quarter, it was the best performing regional centre for median house price growth, with its quarterly change in the annual median increasing 18.6 percent in the three months to December 2016.
Other top performers for median house price growth were Busselton Urban Area and Esperance Urban Area, which experienced lifts of 12.1 and 7.1 percent respectively, Hayden Groves said. 
The Broome and Port Hedland regional centres had the most notable softening of median house price in the December quarter. 
 
<table style="width: 438px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
Regional centre
</td>
<td valign="top" width="154">
Annual median house price (Year to December 2016)
</td>
<td valign="top" width="142">
Quarterly change in the annual median house price
</td>
</tr>
<tr>
<td valign="top" width="142">
Albany Urban Area
</td>
<td valign="top" width="154">
$380,000
</td>
<td valign="top" width="142">
3.8%
</td>
</tr>
<tr>
<td valign="top" width="142">
Broome Urban Area
</td>
<td valign="top" width="154">
$475,000
</td>
<td valign="top" width="142">
-12.8%
</td>
</tr>
<tr>
<td valign="top" width="142">
Bunbury Greater
</td>
<td valign="top" width="154">
$380,000
</td>
<td valign="top" width="142">
4.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Busselton Urban Area
</td>
<td valign="top" width="154">
$480,000
</td>
<td valign="top" width="142">
12.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Esperance Urban Area
</td>
<td valign="top" width="154">
$337,500
</td>
<td valign="top" width="142">
7.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Geraldton/Greenough
</td>
<td valign="top" width="154">
$312,500
</td>
<td valign="top" width="142">
-4.7%
</td>
</tr>
<tr>
<td valign="top" width="142">
Kalgoorlie/Boulder
</td>
<td valign="top" width="154">
$334,750
</td>
<td valign="top" width="142">
1.4%
</td>
</tr>
<tr>
<td valign="top" width="142">
Karratha Urban Area
</td>
<td valign="top" width="154">
$265,000
</td>
<td valign="top" width="142">
-1.9%
</td>
</tr>
<tr>
<td valign="top" width="142">
Mandurah/Murray
</td>
<td valign="top" width="154">
$372,000
</td>
<td valign="top" width="142">
-2.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Northam
</td>
<td valign="top" width="154">
$255,000
</td>
<td valign="top" width="142">
18.6%
</td>
</tr>
<tr>
<td valign="top" width="142">
Port Hedland
</td>
<td valign="top" width="154">
$262,500
</td>
<td valign="top" width="142">
-6.3%
</td>
</tr>
</tbody></table>
Sales volumes were down across regional WA in the December quarter, with preliminary Landgate data showing 1,264 transactions.
The figure was expected to be around 1,500 once all sales had settled.
“Albany and Broome were the strongest performers for sales activity over the quarter, bucking the trend to record stable volume levels.
REIWA analysis shows the bulk of regional sales transactions in the December quarter remained in the $150,000 to $360,000 price range.
“In Bunbury and Albany, while the majority of transactions were below $500,000, both regional centres saw an increase in activity in the higher end of the market.
"It has contributed to the quarterly median house price for both areas lifting,” Mr Groves said.
It was, on average, two days faster to sell a property in regional WA in the December quarter than it was in the September quarter.
“Drilling down, six of the regional centres saw improvements in the number of days it took to sell a property.
Albany and Bunbury were among the most improved, with it being 17 and 10 days quicker (respectively) to achieve a sale in those centres,” Mr Groves said.
Other regional centres to record an improvement in average selling days over the quarter were Northam, Esperance Urban Area, Mandurah/Murray and Geraldton/Greenough.
Meanwhile the Karratha Urban Area was unchanged on the September quarter.
When it came to discounting, the proportion of sellers needing to drop their asking price over the quarter remained stable in comparison to the September quarter at 63 percent.
“We did however see a decline in the amount sellers were needing to reduce their asking price by.
It would have been a contributing factor to regional WA’s overall median increasing in the December quarter,” Mr Groves said.
Property Observer found this three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-wa-spencer+park-123406654" target="_blank">16 Tunney Way, Spencer Park, WA</a><a href="https://www.realestate.com.au/sold/property-house-wa-spencer+park-123406654"></a>, (pictured above) that sold in February for $340,000 in the Albany district.
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