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

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

Wollongong

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Wollongong takes the top spot in the regional regions with the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 41 auctions known to CoreLogic in Wollongong 80.5% of them were cleared.
This is followed by Geelong with 80% and the Hunter region with 74.1%.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.24%20am.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/2017/02/27/Screen%20Shot%202017-02-27%20at%2011.31.24%20am.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-bulli-124645354" target="_blank">20 Somerville Street,</a> Bulli (above) was sold for $1,311,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-bulli-124610514" target="_blank">72 Willcath Street</a>, Bulli (below) was sold for $1,460,000.
<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/2017/02/27/72%20Willcath%20Street.jpg" alt="">
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80% of Wollongong's auctions cleared over the weekend: CoreLogic

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Figtree, an inner west suburb of Wollongong, figured in CoreLogic’s top 10 list of suburbs for units with the most change in value in the 12 months up to September 2016.
Figtree (postcode 2525) was at number seven on the top 10 list in CoreLogic’s Best of the Best 2016 report. It had a median price of $496,924 with a change of 25.6 percent. The suburb saw 33 transactions during the period and units comprised about 6 percent of the total number of homes.
Its population was just over 10,000, according to ABS Census 2011.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" alt="">
Property Observer looked up some sales around the median price and recent sale history.
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-townhouse-nsw-figtree-122120754" target="_blank">1/10 William Street Figtree, NSW, 2525</a> sold in April 2016 for $495,000, according to RP Data. The selling agency was Spinelli Real Estate. It previously sold for $335,000 in 2012, reflecting a change in value of 47.8 percent in four years or an annual growth rate of about 10.7 percent.
 <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/2017/01/16/Figtree1.jpg" alt="" width="668" height="504">
A two-bedroom  unit at <a href="https://www.realestate.com.au/sold/property-villa-nsw-figtree-121596914" target="_blank">10/49-55 Cordeaux Road, </a><a href="https://www.realestate.com.au/sold/property-villa-nsw-figtree-121596914" target="_blank">Figtree, NSW 2525</a> sold for $467,500 in January 2016, according to RP Data. The deal was through Belle Property. The unit had previously changed hands in 2013 for 365,000, data shows, implying a change in value of 28 percent over three years or an annual change of about 10.05 percent.
<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/2017/01/16/Figtree2.jpg" alt=""> 
 
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Wollongong's Figtree among top 10 for best 2016 growth in median value change: CoreLogic

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Sydney's southern city of Wollongong has a preliminary clearance rate of 82.6 percent for the week ending 25 September, according to CoreLogic.
The Gold Coast has a clearance rate of 58.6 percent and the Sunshine Coast 55 percent.
<a href="/images/2016/09/26/Screen%20Shot%202016-09-26%20at%201.35.50%20PM.png" target="_blank">Click to enlarge</a>
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Wollongong takes preliminary clearance rate of 82.6 percent: CoreLogic

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The southern Sydney region of Wollongong held a clearance rate of 92.3 percent for the week ending 19 September, according to CoreLogic.
Victoria's Geelong had a preliminary clearance rate of 74.2 percent, and Queensland's Gold Coast at 35.5 percent and Sunshine coast at 62.5 percent.
<a href="/images/2016/09/19/Screen%20Shot%202016-09-19%20at%201.14.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/19/Screen%20Shot%202016-09-19%20at%201.14.48%20PM.png" alt="">
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jchancellor-FAypfDUnLy

Wollongong takes 92.3 percent preliminary clearance rate: CoreLogic

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The southern Sydney region of Wollongong holds a clearance rate of 83.3 percent for the week ending 11 September, according to CoreLogic.
The Gold Coast reported a preliminary clearance rate of 53.3 percent and Melbourne's Geelong 84.6 percent
<a href="/images/2016/09/12/Screen%20Shot%202016-09-12%20at%2012.58.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/12/Screen%20Shot%202016-09-12%20at%2012.58.59%20PM.png" alt="">
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Wollongong region holds a clearance rate of 83.3 percent: CoreLogic

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Wollongong's preliminary clearance rate for the week ending July 24 came to 68.2 percent according to CoreLogic, leading the Gold Coast (61.9 percent), the Sunshine Coast (50.0 percent) and the Hunter region (47.6 percent).
The median price for a home in Wollongong sits at $665,000, according to CoreLogic.
Property Observer found the below examples of recent sales around the median price.
<a href="/images/2016/07/25/Screen%20Shot%202016-07-25%20at%2010.48.21%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/25/Screen%20Shot%202016-07-25%20at%2010.48.21%20AM.png" alt="">
Three bedroom 96 Rowland Avenue Wollongong (above) <a href="https://www.realestate.com.au/property-house-nsw-wollongong-122458686">recently sold for $620,000</a>.
A neat home, <a href="https://www.realestate.com.au/property-house-nsw-wollongong-121326074">2 New Dapto Road Wollongong</a> (below) NSW 2500 sold for $635,000.
<div id="listing_header">
<img src="/images/2016/07/25/Screen%20Shot%202016-07-25%20at%203.16.34%20PM.png" alt="">
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Wollongong secures 68 percent auction success rate: CoreLogic

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Wollongong, the economic centre of the Illawarra region, is transitioning from a manufacturing to a service-based economy, with healthcare, education and IT the core sectors at its heart, says a recent research report by Knight Frank.
According to Wollongong Insight: June 2016, population growth in the Wollongong local government area (LGA) is expected to total 23,575 people by 2031, while the Wollongong CBD is projected to experience jobs growth of 3,773 over the next 20 years. More than 70 per cent of these jobs are anticipated to be in white collar industries, equating to office demand of circa 54,280 sqm.
Knight Frank’s managing director, Illawarra, Ben Mostyn said, “Wollongong’s connectivity, resident population spillover from Sydney and a growing government tenant presence will ensure it remains the epicentre for economic activity in the Illawarra region.”
Home to 208,875 residents and 72,551 jobs, the Wollongong LGA accounts for 61 per cent of the region’s gross regional product - also supported by key infrastructure and education assets including Port Kembla and the University of Wollongong. 
“Wollongong plays a key role not only for the Illawarra region, but also for the broader southern and western regions of NSW.”  
Knight Frank’s director, Research &amp; Consulting, Paul Savitz, said Wollongong’s A-grade office vacancy rate measures 8.5 per cent, from 74,662 sqm of total A-grade stock, although vacancy will reduce by early 2017.
“While the office market has struggled in recent years from tenant relocations to newer premises and a lack of expansionary requirements from existing occupiers, there are positive signs,” he said. 
The State Emergency Services (SES) will relocate to the former ATO building in early 2017, and it will reduce the overall office vacancy rate as new supply remains constrained.
“This is expected to signify a period of modest rental growth. Elevated vacancy rates and subdued tenant demand prior to 2015 has meant that rental levels in Wollongong have remained stagnant in recent years,” said Savitz.
“Currently, A-grade gross face rents average $425 per sqm with a broad range of $390 to $460 per square metre, while gross face rents are considerably below that of major non-CBD Sydney office markets, currently discounted by up to 22 per cent.
“Looking ahead, some moderate upward pressure on rents is expected over the next 12-24 months; particularly for prime-grade assets,” said Savitz. 
Mostyn added that the local Wollongong economy was shifting from manufacturing to service-based industries; primarily healthcare, education and IT services, which is anticipated to equate to office demand of circa 54,280 square metres over the coming two decades.
“Highlighted by recent sales, investment demand for both office and industrial assets in Wollongong is strong, as investors are attracted to the high yield metrics on offer when compared to Sydney. Demand is expected to remain solid throughout 2016 and 2017,” said Mostyn.
“Investment will continue to be strong for functional assets, as the business outlook remains positive with local firms expecting trading activity to improve throughout 2016 – coupled with positive overflow demand from Sydney.” 
According to Mostyn, as competition for core assets nationally increased exponentially over the past 18 months, and as yields fell, purchasers have been increasingly moving up the risk curve. 
“This has resulted in demand spilling over into non-CBD and major metro markets, and Wollongong is beginning to benefit from this demand. Since January 2015, Wollongong office sales over $5 million have totaled $33.8 million. 
“The most recent significant sales transactions include the six-storey, fully-leased Australian Hydrographic Office Building in the Wollongong CBD. Tenanted by the Department of Defence until 2021, the property sold for $10 million plus. Another building at 8 Station Street also sold recently in April 2016 for $13.6 million at a net passing yield of 10.1 per cent.”
The sales are proof of the demand in the Wollongong market, said Mostyn.
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prateek24-ezbwHMbNAk

As Wollongong shifts to a service-based economy, 54,000 sqm of office space needed: Knight Frank

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Price increases in the Wollongong CBD market have pushed the price of most two bedroom units in well located developments over $500,000, according to the July residential market review from the property valuation firm, Herron Todd White.
The report found two bedroom units in older CBD complexes are going for around $400,000 with very few suburban houses around north Wollongong, Shellharbour, Shell Cove, Kiama and Geringong available under $500,000.
"Heading south and it’s common for tidy but older style houses to be available for under $500,000 in most established suburbs, however any modern or recently renovated dwellings are now mostly priced above $500,000 even in the traditionally more affordable suburbs such as Cringila, Berkeley, Dapto, Warilla and Barrack Heights," the report said.
"In 2015 we identified Wollongong CBD units and houses in Barrack Heights and Warilla as being the best buys for under $500,000. and we’ve seen strong market increases over the past 12 months and there hasn’t been a single region or residential property type that has performed poorly in this period.
"With such a small segment of the market now falling in the under $500,000 range we expect to see continued growth for these properties as they appeal to the largest range of buyers including first home buyers, investors and doer-uppers."
Property Observer found a four bedroom home in Warilla <a href="https://www.realestate.com.au/property-house-nsw-warilla-123029150" target="_blank">on the market for $399,000</a>.
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FHB, investors and doer-uppers competing for reducing Illawarra market offerings: HTW

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Clearance rates in Sydney's south is strong with an 82.4 percent preliminary clearance rate of 17 auctions according to CoreLogic RP Data.
The Hunter Valley region had a preliminary clearance rate of 75 percent from 24 auctions and Victoria's Geelong 73.7 percent from 19 auctions.
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Wollongong holds clearance rate of 82 percent: CoreLogic RP Datas

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GUEST OBSERVER
If you are looking for a home or property investment that is affordable, has great lifestyle appeal and a solid future, then look no further than 90 minutes south of Sydney to Wollongong. Our local buyer's agent has helped us pin point seven reasons why we believe this area is set to perform.
Wollongong is perhaps best known for its steel works at Port Kembla. Since the original furnace opened in 1930, Wollongong has burgeoned into a vibrant city (officially recognised in 1942) while retaining its relaxed coastal lifestyle.
Since the late 1970’s, Wollongong underwent dramatic change as its economy diversified and transitioned from predominately manufacturing to other industries such as tourism, information technology, hospitality, health services, education, construction, public administration and telecommunications.
This led to large investment in infrastructure, such as the electrification of the Sydney to Wollongong rail line in 1985. The population rapidly expanded as Sydney became within commuting distance and Greater Wollongong is now Australia’s 10th largest city with a population of almost 300,000 people. The Wollongong local government area (LGA) is forecast to grow by around 16.5% over the next 20 years while the CBD was predicted to double between the end of 2014 and mid 2017 thanks to the refurbishment of Crown Street Mall and a number of large apartment buildings due for completion during that time.
Wollongong has changed significantly over the last few decades and I believe real estate in the region is set to shine in 2016 and beyond. Here are the top reasons why:
1.  The ripple effect
The median Sydney house price has grown by around 50% since the start of the growth cycle in 2012. The growth cycle started in the inner ring suburbs and then gradually moved to the middle and outer ring suburbs. Many people are now priced out of the Sydney market and looking to buy in regional areas such as Wollongong, the Southern Highlands and Newcastle.
Wollongong has the unique benefit of being only 80km or 90 minutes via road or rail to Sydney, which allows residents to commute to Sydney. In fact, around 20,000 Wollongong residents do this, which allows them to access higher wages in Sydney while having the attractive lifestyle and lower living costs of Wollongong.
The commute time will be drastically reduced in the future as Stage 2 of the WestConnex project (opening in 2019) will have a ‘tunnel stub’ at Kogarah Golf Course near Sydney airport for the proposed ‘Southern Connector’ freeway linking the M5 in Sydney with the F6 in Wollongong. Once the exact route is announced, Wollongong prices will boom.
2.  Value for money
With a median price of $665,000, you can buy a house in Wollongong for around two-thirds of a Sydney house, which has a median price of $987,000. This is despite being a large city with all the associated amenities and enviable coastal position. However, growth has started to pick up as people realise the value and lifestyle on offer, so I don’t expect this large gap to remain for long.
The northern suburbs are the most expensive in Wollongong as there is a natural geographical boundary between the ocean and the escarpment which limits supply. They also have beautiful beaches, picturesque ocean pools, seaside restaurants and easy access to hiking trails in the Illawarra State Recreation Reserve. Properties located east of the train line are naturally more expensive than those on the western side. Houses in Fairy Meadow, Towradgi and Corrimal are relatively good value as they are priced around the Wollongong average, are relatively close to the CBD and have their own beaches and rail stations. Bellambi is also worth a look as it’s only one station past Corrimal but about $100,000 cheaper.
The Steelworks is located south of the CBD at Port Kembla, Southern suburbs with good prospects include Figtree and Unanderra which have yields for houses and apartments of around 5%. Further south, especially to the west of Lake Illawarra, many developers are offering house and land packages however some of these lack differentiation from their peers, hindering future capital growth. The $1.5 billion Shell Cove project is expected to be completed in 2019, which will include residential property from houses to high density apartments, a town square, shopping precinct, hotel and marina with 300 berths.
3.  Relaxed coastal lifestyle, beaches and entertainment options
Locals love the relaxed Wollongong lifestyle. Beaches and shops aren’t crowded and traffic is a breeze compared to Sydney. From cinemas to golf clubs, art galleries and museums including the interactive Science Centre and Planetarium, Wollongong has it all. The city is now a destination rather than just a cheaper alternative to Sydney and its tourism industry has flourished as a result.
4.  First-class university, hospital and excellent schools
Wollongong University was ranked in the top 10 universities in Australia in 2015 and has over 30,000 students enrolled with almost 500 degrees on offer.
Wollongong Hospital has over 500 beds and recently underwent at $106 million capital works program including the construction of the Illawarra Elective Surgical Services Centre which opened in December 2015. The state-of-the-art facility houses over 100 new beds and a larger intensive care unit (ICU). It can now offer more advanced services, especially in urology and vascular surgery, without referring patients to Sydney.
There are also many well regarded schools in Wollongong including Smiths Hill High School which ranked in the top 50 NSW schools in 2015.  Top class education and hospital facilities are good drivers of local property growth.
5.  Great family and community atmosphere
Wollongong has a fantastic community atmosphere. The area is popular with families and couples, which are the most common demographic of the city. The council also puts on regular free events for locals from community walks to live music performances and beach clean-ups, which help to create a sense of community spirit. The council also provides the free ‘Gong’ shuttle bus which loop in both directions every 10 to 20 minutes from Wollongong Station to Wollongong University via Wollongong Hospital, Burelli Street and the Innovation Campus.
Compared to regional NSW, Wollongong has a higher proportion of 18 to 49 year olds and a lower proportion of other age groups. This is a bright sign for the future because this includes parents in their child bearing years and the majority of the working population.  
6.  Heart of the Illawarra region
Wollongong is the central hub for the Illawarra region and benefits from both locals and tourists from the Royal National Park in the north to Kiama, Gerringong, Nowra and Jervis Bay in the south.
There are over 80,000 jobs in Wollongong and approximately one quarter of the people that work in the city live outside the area. As well as the university and hospital, Wollongong also has all the major stores including department stores Myer, David Jones, Target and Big W.
7.  Local attractions
You can easily spend a week hiking the trails around Wollongong and exploring the beaches, coves and ocean pools dotted along the coast.
The Sublime Point walking track winds though lush coastal rainforest and takes you deep into the Illawarra escarpment.
Wollongong's Blue Mile located along Cliff Road is the best vantage point from which to absorb the beauty of the South Pacific Ocean to the east and the magnificent of the Illawarra Escarpment to the west. The newly constructed boardwalk along the harbour and foreshore is perfect for a casual walk or jog. You can even stop for a coffee or delicious lunch at one of the many seaside dining options along the way. While you’re there, stop by the historic Belmore Basin Lighthouse for a trip back in time and stop to enjoy the view.
Alternatively, the Grand Pacific Drive between Wollongong and Sydney offers great views from the car and takes in breathtaking coastal views and passes over Sea Cliff Bridge – a beautiful road suspended out from the cliff.
There are too many attractions to list here so make sure to leave plenty of time when you visit, because when it comes time to leave you will wish you didn’t have to!
 Rich Harvey is managing director, <a href="https://www.propertybuyer.com.au" target="_blank">www.propertybuyer.com.au</a>
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