Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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A recent article in BRW explained that if you think the wealthy make their money slaving over a desk like ordinary folk you’ll never be rich. 
<a href="https://www.brw.com.au/p/sections/investment/how_rich_people_make_their_money_kLIhdi1N5esL0uQec4sfkO" target="_blank">The article</a> cited <a href="https://www.inc.com/" target="_blank">Inc.</a>, which combed through the US Internal Revenue Service’s latest annual report into big earners and broke down how they earned their keep, which was as follows: 
<ul>
<li>Wages and salaries – 8.6% </li>
<li>Interest – 6.6% </li>
<li>Dividends – 13% </li>
<li>Partnerships and corporations – 19.9% </li>
<li>Capital gains – 45.8% </li>
</ul>
The clear message from this appears to be, if you want to get rich invest for capital growth. 
Now if you’ve been following my blogs you’ll know that this is what I’ve been saying for years. I’ve always recommended buying well-located residential properties and building a substantial asset base that will one day replace your personal exertion incomes. 
If you think about it, as you build an extensive property portfolio, over the years the vast majority of your profit will be capital growth and not rents.
 
It’s really the same for home owners 
If you bought your house 10 years ago for $250,000 and it’s worth half a million dollars today, the bulk of your wealth is not from your savings and paying off your mortgage but from capital growth.
 
What about in the future when capital growth will be lower? 
There’s no doubt that over the next few years we’ll experience a lower overall rate of capital growth in property values. Does that mean that property investment doesn’t make sense at the moment, or that you should invest for cashflow? 
The simple answer to both questions is NO! 
Cashflow is necessary to keep you in the property markets, but it’s really capital growth that will make you wealthy. 
And while overall the markets are flat, there are still pockets of strong capital growth. It’s a bit like me putting one hand in a bucket of ice water and the other in a bucket of hot water and saying, “Overall the temperature is comfortable.” 
In all of our capital cities there are some areas where demand is outstripping supply, pushing up prices.
 
My four stranded strategic approach to property investing 
While at any time there are hundreds of thousands of properties for sale, not all will make good investments. In fact, most won’t. 
To ensure I buy a property that will outperform the market averages I use a four-stranded strategic approach. 
1. I buy a property below its intrinsic value. 
2. In an area that has a long history of strong capital growth. 
3. I look for a property with a twist – something unique or special or different or scarce. 
4. And a property where I can “manufacture capital growth” through refurbishment, renovations or redevelopment. 
By following my four-strand strategic approach I minimise my risks and maximise my upside, as each strand represents a way of making money from property, and combining all four is a powerful way of putting the odds in my favour. If one strand lets me down, I have two or three others supporting my property’s performance. 
If you want to gain a degree of financial freedom, I suggest you consider investing for capital growth too.
Michael Yardney is the director of <a href="https://www.metropole.com.au/" target="_blank">Metropole Property Investment Strategists</a>, a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the<a href="https://propertyupdate.com.au/category/property-investment/" target="_blank"> Property Investment Update blog.</a>
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Refurbishment, renovations or redevelopment is the way the rich make their money

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Boutique lodge operator Baillie Lodges has submitted a development application for its proposed new ultra-expensive hotel, including a new "ribbed building" joining two Victorian-era warehouses dating back to the 1840s.
Photos included in the submissions show a Sydney seeped in Victorian-era architecture with brick terraces and horse-drawn carts.
The application by Baillie Lodges has an estimated construction cost of $6.3 million.
<img src="/images/stories/2012/08/baillie.jpg">
The new hotel has been designed by architects Tonkin Zulaikha Greer architects, led by director Tim Greer, which has past experience in projects incorporating a heritage element.
It features a new two-storey building to be built on the site of the Westpac museum with a ribbed façade and a roof terrace, linked to 47 George Street.
<img src="/images/stories/2012/08/baillie2.jpg">
Among the firm’s most well-known projects is the 'Portico' Scots Church redevelopment in Wynward, a short walk from the Rocks, which topped the disused, heritage-listed neo-gothic 1920s church with apartments while keeping the gothic façade at the base.
Baillie Lodges – run by husband-and-wife operators James and Hayley Baillie – is targeting a mid-2014 opening for what would be its first inner-city Sydney venture.
They are seeking to make alterations and additions to two existing heritage listed buildings, demolish the 1980s-built former Westpac Museum and erect a new building to create the new boutique hotel.
The heritage buildings stand on the corner of George Street and Atherton streets in the Rocks and form part of a predominantly Victorian and Edwardian streetscape at the northern end of George Street.
<img src="/images/stories/2012/08/baillie3.jpg">
The two heritage buildings are Union Bond Store at 47 George Street, Merchants House at 43-45 George Street as well as the adjoining Avery Terrace site, which houses the former Westpac Museum.
 
<hr class="system-pagebreak">
 
Click to enlarge
<a href="/images/stories/2012/08/bailliemap.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/bailliemapthumb.jpg"></a>
The project is being managed by Matthew Giltrap, who says a final decision on the application may not be made until November. The application requires approval of the Heritage Council.
Should this go smoothly, construction could begin in March.
The Baillies have acquired 35-year leases on the two adjacent historic buildings on George Street 
Documents show that the construction of Union Bond Store dates back to 1841, Merchants House dates back to 1848 and Avery Terrace to 1881.
The Union Bond Store and Merchant’s House form a Victorian Regency period "bookend" to the adjacent two-storey terrace houses.
Historical documents included in the application show the rich heritage of the site.
There are grainy photographs showing the two matching warehouses at 47 George Street dating back to 1858 adjoining the Union Bond Store.
<img src="/images/stories/2012/08/baillie4.jpg">
An 1880s directory excerpt lists the tenants at 47 George Street as “E Bow and Co. Wholesale Druggists”
<img src="/images/stories/2012/08/baillie5.jpg">
Also taken in 1880 is this photo showing the two buildings fronting George Street with horse-drawn carts out the front and a winch used to lift supplies from the carts to higher levels of the warehouse.
<img src="/images/stories/2012/08/baillie6.jpg">
At the turn of the century, Union Bond Store and Merchant’s House are shown as part of the Estate of the John Martyn.
More historical pictures show the warehouse within the context of a distinctly Victorian-looking Sydney with boats and ships moored in a Circular Quay that looks nothing like today’s modern high-rise version
<img src="/images/stories/2012/08/baillie7.jpg">
Plans for the Baillies' Sydney were revealed by James Baillie in April this year.
He told Property Observer he chose The Rocks because it is a “quintessentially Sydney location” and “perfectly located close to all of Sydney key iconic attractions”.
Suite tariffs (double) will range from $1,200 to $3,000 per night inclusive of gourmet breakfast, open bar and in-suite bar, evening cocktails and canapés, airport transfers and town car service.
The Great Ocean Road is next on the couple’s agenda, and they also have ambitions of opening a second larger luxury hotel in Sydney.
Baillie Lodges was founded in 2003 and currently operates three luxury lodges in wilderness locations, these being <a target="_blank" href="https://www.lordhowe.com/">Capella Lodge</a> on Lord Howe Island, the Baillies’ first venture, <a target="_blank" href="https://www.southernoceanlodge.com.au/">Southern Ocean Lodge </a>on Kangaroo Island (pictured above) and <a target="_blank" href="https://www.baillielodges.com.au/remarkable-lodge.asp">Remarkable Lodge in Tasmania</a>.
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Baillie Lodges reveal ribbed modernist addition to proposed boutique hotel in Victorian-era The Rocks in Sydney

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The New South Wales property market is set to improve in the second half of 2012, with signs it may already be on the upswing in many areas, but any recovery is expected to be gradual, according to First National Real Estate’s 2012 Property Market Outlook Mid-Year Update. 
The Update, released this week, is based on a survey of the 400+ member network, and provides an insight on what member agents expect the market to do, drawing on their experience at the grass roots level. 
There is general feeling of optimism in New South Wales that reducing interest rates will increase confidence in the property market. 
As buyer confidence improves, so should conditions and the market.
The key influencing factors in the next six months for the market will be interest rates, buyer confidence levels, the global economy and lower levels of new listings. 
Banks need to pass on interest rate cuts, and the state government needs to release more land and lower costs to support the property market in its recovery. 
The banks are proving to the marketplace they can, and will, do what is right for their profit, rather than what is right for the consumer. 
And the state government’s lack of funds to complete any major infrastructure works could restrict the amount of land available, both of which will hinder recovery efforts. 
The Update says the strongest growth will come from the investor sector, followed by upgraders and retirees. 
Investor activity will increase as a result of improved buying opportunities and better rental yields. 
Property prices should stabilise, with some upswings, with price movements underpinned by buyer confidence, especially in the areas of mid-north coast, Southern Highlands, central coast and greater western Sydney. 
The rental market in NSW is expected to remain relatively strong overall, although this will depend on the region. 
Members in greater western Sydney, Sydney metropolitan, mid-north coast, northern rivers and Snowy Mountains have strong rental markets and are expecting vacancy rates to fall or remain the same. 
Interest rates are expected to reduce further, adding to improving affordability levels, strengthening buyer confidence and stimulating activity in the slow property market. 
The rising unemployment and increasing living expenses, including the introduction of the carbon tax, are expected to put pressure on mortgage holders, with 41% of NSW members expecting increased mortgage defaults in their region. 
The commercial property market will prosper from any improvements in job opportunities and consumer confidence. 
Stunted growth in the business sectors, especially retail and tourism, is having a significant impact on the state’s commercial property market, and any gains in general economic conditions may stem the downward trend. 
The relatively high value of the Australian dollar will dampen activity in rural property markets, along with slow buyer activity. 
According to the Update, the key challenges facing local NSW property markets are vendors adjusting prices to meet market expectations, low population growth resulting in reduced buyer numbers and unstable global and domestic economic conditions. 
Economic conditions are of particular concern and affecting the market in the regions of the Snowy Mountains, south coast, Southern Highlands and Southern Tablelands.
Mike Millington is chairman of <a href="https://www.firstnational.com.au/" target="_blank">First National Real Estate </a>NSW.
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mmillington-AeTzU83wj3

Optimism in NSW property market that low interest rates will improve confidence

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Property investors with net wealth of over $5 million will face increased tax compliance scrutiny from the Australian Tax Office (ATO) following the launch of a new online guide aimed at “wealthy individuals and their economic groups with net wealth over $5 million” as well as small and medium-sized enterprises earning between $2 million and $250 million.
"With more than $74 billion of revenue collected last financial year coming from SMEs and wealthy individuals, over a quarter of all revenue collected by the ATO, it is important that we have a good working relationship with clear expectations of each other," said commissioner of taxation Michael D'Ascenzo this week as he launched the new publication Tax compliance for small-to-medium enterprises and wealthy individuals.
This is the first time that the ATO has published detailed information on its approach to managing tax compliance risks for SMEs. 
"Those risks that attract our attention include things like where tax performance varies substantially from business performance, there are inconsistencies in activity statements or spikes in refund claims, or there are large one-off or unusual transactions," D'Ascenzo says.
"By publishing information on how we assess risk and what attracts our attention, we intend to provide more practical certainty for taxpayers.
The publication also details what SMEs and wealthy individuals can expect as part of an audit and review process, how to avoid or reduce the risk of administrative penalties, it also outlines the range of options available in resolving disputes with the ATO.
The ATO says that several characteristics may attract its attention, including:
<ul style="font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 10.909090995788574px;">
<li>tax performance varying substantially from business performance</li>
<li>inconsistencies in activity statements or spikes in refund claims</li>
<li>large, one-off or unusual transactions</li>
<li>tax and economic performance varying significantly from similar businesses in the same industry</li>
<li>unexplained losses</li>
<li>a history of aggressive tax planning by individuals or their advisers</li>
<li>weaknesses in compliance structures, processes and approaches</li>
<li>tax outcomes inconsistent with the intent of tax law</li>
<li>lifestyle not supported by after-tax income</li>
<li>treating private assets as business assets</li>
<li>accessing business assets for tax-free private use</li>
<li>not disclosing offshore dealings with overseas entities, especially low-tax jurisdictions and tax havens that allow banking secrecy</li>
<li>using complex structures and intra-group transactions to minimise tax</li>
<li>transactions where the tax and economic outcomes are inconsistent</li>
<li>poor governance and risk-management systems</li>
<li>distortions and inconsistencies in market valuations and apportionments</li>
<li>business performance falling outside small business benchmarks (for businesses with turnover of up to $15 million).</li>
</ul>
About 250 wealthy individuals face a review this year.
The ATO is watching 2,600 wealthy individuals but says there are a potential 3,000 who could also fit into the category.
In its overview of the SME market, the ATO says that “wealthy individuals are behind some of Australia's largest and most successful businesses.
“They employ many Australians and significantly contribute to our economy and tax revenue. They can operate their own self-managed super funds. Many take on a great deal of personal risk to build their businesses.
“Given their positions of influence it is important they do not take unacceptable risks when it comes to tax compliance,” says the ATO.
<a target="_blank" href="https://www.ato.gov.au/businesses/content.aspx?doc=/content/00129961.htm&amp;alias=smecompliance">The guide can be viewed online on the ATO website.</a>
 
 
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Wealthy property investors facing tax scrutiny as ATO launches new tax compliance guide

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A new tranche of 10 refurbished Sydney 7-Eleven service stations and attached convenience stores have been listed for auction on September 25.
The combined retail and service stations have held strong appeal for commercial property investors with two tranches – one in Brisbane and one in Sydney – selling at auction earlier this year, with yields ranging betwen 5.6% and nearly 7.7%.
Last year more than $90 million worth of refurbished 7-Eleven service stations sold at auction in a similar yield range, with many snapped up by self-funded retirees.
As with previous batches, the 10 Sydney stores comes with new 15-year leases plus renewal options and guaranteed 4% annual fixed rent increases.
The highest-earning service station in the new batch is a 1,688-square-metre site at 336 Georges River Road in Croydon Park in Sydney’s west, which has an annual rental of $280,000.
The Roselands and West Ryde stations earn the lowest annual rent, at $150,000 per year each. 
Other 7-Eleven service stations are located at Berowra (the biggest site measuring 3,174 square metres), Bexley, Campbelltown, Glendale, Kirrawee, Rockdale, Roselands, Rozelle and West Ryde.
The marketing campaign is being handled by Jones Lang LaSalle agents John Macree , Jeff Moxham, Anthony Bray, Leslie Cheng and Michael Ajaka.
Interested buyers can register their details at a <a href="https://www.joneslanglasalle24seven.com.au/">dedicated Jones Lang LaSalle site.</a>
The most recent auction of 7-Elevens was a tranche of six in Queensland in April this year.
Five of the six sold at auction, with prices ranging from $1.5 million for a 2,365-square-metre 7-Eleven service station in the north Brisbane coastal suburb of Sandgate to $2.35 million paid for a 3,700-square-metre service station in Springwood, south of Brisbane.
Yields ranged from 5.67% to 7.73%, similar to the 5.75% to 7.7% yields achieved following the recent successful auction of <a target="_blank" href="https://www.propertyobserver.com.au/retail/self-funded-retirees-continue-to-snap-up-nsw-7-elevens-service-stations-drawn-by-high-yields/2012032754031">10 NSW 7-Elevens</a>, where prices ranged from $2.2 million to $3.9 million.
<a href="https://www.propertyobserver.com.au/retail/self-funded-retirees-continue-to-snap-up-nsw-7-elevens-service-stations-drawn-by-high-yields/2012032754031">In March 10  NSW 7-Eleven service stations sold at auction</a>, with the assets again proving popular with retirees with self-managed super funds due to their high rental yields.
The 10 petrol stations sold in a price range from $2.2 million to $3.9 million, with yields ranging between 5.75% and 7.7% and an average yield of 6.81%.
The service stations are being sold as part of a sale program kicked off by 7-Eleven following its acquisition of 295 service stations from Mobil Retail in May 2010.
Since acquiring the Mobil business, 7-Eleven has been converting the Mobil stores into 7-Eleven service stations with attached convenience stores.
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Refurbished 7-Elevens service stations to tempt Sydney property investors with $150,000-plus rents

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Vacancy rates in most of our capital cities are relatively low. The national rate sat at 1.9% last month, but it’s been slowly rising throughout 2012.
Rental vacancies in or near mining towns are up and down, but what’s happening in our bigger regional cities?
Let’s take a look around the nation, according to figures from SQM Research.
In Queensland, Cairns is sitting on 1.6%, after dropping consistently all year. Townsville’s vacancy rate is higher at 2.8% – but both northern centres had four times those rates just three years ago. Closer to the mining areas, Mackay’s vacancy rate has plummeted to just 0.9%, and Gladstone is sitting on 1.2% with just 30 homes up for rent in July. Emerald’s rate is actually on the rise, all the way up to 0.3% – or 10 properties. The news is still bad from Moranbah, where the vacancy rate remains up in the stratosphere at 5.1% – the result of mining giant BMA’s dummy spit over high rents. Looks like most of the miners prefer to live in nearby Mackay. Closer to Brisbane, Toowoomba’s vacancy rate is stabilising at 1.1%, after dropping all year.
New South Wales’ biggest regional centres, Newcastle and Wollongong, have vacancy rates in line with the national average – 2.1% and 1.9% respectively. Head west of Sydney and it’s not so rosy – in Orange, where the 2011 census confirmed a substantial population drop, vacancy rates have climbed sharply to sit at 3%. Further west, Dubbo is still a star at 1.4%, as is country music capital Tamworth at 1.5%. On the north coast, Port Macquarie has dropped to 1.8% while Coffs Harbour remains relatively steady at 2.1%.
The vacancy rates in regional Victoria are consistently above the national average. Geelong dropped to 2.4% in July after a sudden spike in May. Ballarat’s vacancy rate also dropped in July, to 2.4%, after climbing all year – and it’s a similar story in Bendigo, where vacancies are currently at 2.2%. The rate for Albury-Wodonga, on the NSW-Victorian border, has also climbed to about 2% combined.
Head over to WA – the nation’s GDP powerhouse – and regional rental accommodation isn’t so easy to come by. Mandurah and Geraldton are both boasting low vacancy rates of 1.2%, but Bunbury’s rate is zero – and has been for nearly two years. Even Perth is leading the capitals, with a vacancy rate of 0.7%. It looks like we’ve worked out where everyone’s moving to! Only tiny Karratha appears to be bucking the WA trend, with an unusually high vacancy rate of 4.3%. Perhaps it will settle down after its massive growth spurt and construction phase.
In South Australia, Whyalla is coping well with its Olympic Dam demands (before yesterday's announcement that the mine expansion would not be going ahead) – the vacancy rate has dropped to 1.9%, down from nearly 10 times that figure just two years ago. Port Lincoln is down to 1.5%, while Port Augusta has been rising dramatically only to pull back in July to 2.1%.
Things are a bit crook in poor old Tassie. Vacancy rates have practically doubled in both Hobart and Launceston in two years, with Launceston still climbing and currently sitting on 3.9%. It’s good news for retiring baby boomers arriving from the mainland with smaller post-GFC nest eggs – but very bad news for existing investors. The 2011 Census also confirms Tasmania lost more people to the mainland in the decade from 2001, than it gained. It’s a long road ahead when their bright young sparks are all moving to… well, Perth and Mackay.
Michael Matusik is the founder of <a href="https://www.matusik.com.au/" target="_blank">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a title="blocked::https://www.matusikmissive.wordpress.com /" href="https://www.matusikmissive.wordpress.com%20/" target="_blank">Michael's blog</a>or follow him on <a href="https://www.twitter.com/michaelmatusik" target="_blank">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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Vacancy rates tight in Perth and Mackay, but other areas not so lucky

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Westpac and the Melbourne Institute's consumer sentiment index was recorded at 99.1 points for July, which indicates that consumer sentiment is close to the neutral mark where optimism and pessimism are equally weighted (i.e. an index reading of 100).
The consumer sentiment index continues to point to a higher level of pessimism than optimism despite the fact that there has been a significant decline in the standard variable mortgage rate over recent months (the index has remained under the 100 mark since March 2012).
The recent round of interest rate cuts commenced in November 2011 and since that time average mortgage rates have fallen by a total of 95 basis points. In October 2011, the month prior to the first interest rate cut, consumer sentiment was recorded at 97.2 points. Despite 95 basis points worth of interest rate cuts since that time, sentiment is just 1.9% higher. Consumers simply aren’t responding to lower interest rates in the way they have in the past.
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Clearly in the current economic environment of global and domestic uncertainty a lower interest rate environment is not proving to be enough to encourage a higher level of consumer optimism. Although there has been an improvement in all components of the consumer sentiment index over recent months, respondents are particularly pessimistic about family finances over the past year and over the coming year. This result suggests that although lower interest rates should ease financial burdens on families other factors are leading to lower expectations of finances. You could speculate that it is probably related to factors such as the carbon tax, political concerns both domestically and internationally, concerns of a Chinese economic slowdown and ongoing concerns about key European economies.
We also know that unlike conditions prior to the Global Financial Crisis (GFC) the behaviour of consumers has changed significantly. For starters, households are saving a lot more than they were previously. The household savings ratio was in steady decline since the mid-1970s and in 2003/04 households were actually spending more than they were earning (i.e. savings was negative). The household savings ratio has rapidly risen and has been above 8% since December 2008. Private sector thirst for credit, both housing and non-housing has also dried up. Total private sector credit growth was recorded at 4% over the year to May 2012 compared to typical annual growth over the past 20 years of 9.6%. Annual growth in housing credit is currently at a historic low of 5.1% over the year to May 2012 compared to typical annual growth of 13.4% over the past 20 years. Other indicators such as growth in spending on credit cards, housing finance commitments, retail trade and dwelling approvals are also reflective of limited demand from consumers to spend and a renewed focus on saving and debt reduction.
The lacklustre response to the significant easing of variable mortgage rates has repercussions for the housing market. Despite such a significant easing in mortgage rates, capital city home values have fallen by a further -2.2% since October 2011. It is important to note that values did increase by 1% in June and, based on the daily movements in the RP Data-Rismark Home Value Index, have now been trending higher over the past six weeks.
 
<hr class="system-pagebreak">
 
As the graph shows, over recent years consumer sentiment has been an important element of the performance of growth (or declines) in home values and, as a result, a sustained improvement in home values is likely to be dependent on a sustained improvement in consumer sentiment. Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/08/rpaug71.gif" title="Click to enlarge"><img src="/images/stories/2012/08/rpaug71thumb.gif"></a>
Sales transaction data lags our value data. However, volumes have also shown little response to date to a lower mortgage rate environment. As the graph shows, consumer sentiment and sales volumes have recorded quite a strong correlation in recent years. A sustained recovery in consumer sentiment is therefore likely to result in an improvement in residential sales activity. Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/08/rpaug72.gif" title="Click to enlarge"><img src="/images/stories/2012/08/rpaug72thumb.gif"></a>
Overall, cuts to mortgage rates take some time to filter through to the market, but capital city home values have now been increasing over the past six weeks. Sales volumes data which does lag is yet to show signs of a recovery and the amount of stock available for sale is slowly easing. We may well see further improvement in sales activity in the spring, which is typically a busier time for the housing market.
The key ingredient to an improvement in the housing market is likely to be an ongoing and sustained improvement in consumer sentiment, particularly a willingness to spend on high commitment purchases. This is likely to take some time, given the high level of caution being shown by consumers and the ongoing global economic uncertainty.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/08/rpaug73.gif" title="Click to enlarge"><img src="/images/stories/2012/08/rpaug73thumb.gif"></a>
Cameron Kusher is senior data analyst at <a target="_blank" href="https://www.rpdata.net.au/">RP Data</a>.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a> in July.
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Slow rise in consumer sentiment shows interest rate cuts no longer have same influence: Cameron Kusher

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The Queensland property market is set to improve in the second half of 2012, with signs it may already be on the upswing in many areas, but any recovery is expected to be gradual, according to the First National Real Estate 2012 Property Market Outlook Mid-Year Update. 
The Update, released this week, is based on a survey of the 400+ member network, and provides an insight on what member agents expect the market to do, drawing on their experience at a grass roots level. 
The change of government in Queensland is expected to build on the growing sense of optimism seen in the first half of the year. 
The main reasons for the positive predictions are interest rate reductions, the market having bottomed out and improved affordability. 
The key challenges facing the state’s property market are vendors adjusting their price expectations to meet market demand and consumer nervousness, along with rising costs of living, which are particularly relevant for the areas of Atherton Tablelands, Gold Coast, Sunshine Coast, Wide Bay Burnett, Darling Downs and Brisbane. 
Economic uncertainty, both for the state and overseas, coupled with the high Australian dollar, will serve to curtail confidence from a market and business and consumer perspective. 
While stamp duty reductions and lower interest rates have generated better buying and economic conditions, improving market confidence, the market itself is still relatively nervous, which is dampening what would have been an even greater market improvement. 
The Update says the strongest growth will come from the investor sector, followed by upgraders, then first-home buyers and lastly retirees. 
Investor activity in Queensland will be driven by greater returns on investment dollars and improved affordability with lower prices and reducing interest rates. 
Property prices should stabilise, with house prices faring a little better than apartments/strata and land prices, especially in the Darling Downs and Sunshine Coast regions, and some parts of Brisbane. 
The rental market in Queensland is expected to remain relatively strong overall, although this will depend on the region. 
Even with the improved market conditions, affordability remains an issue for many renters, especially in the area of Moreton, the Sunshine Coast and some parts of Brisbane. 
Interest rates are expected to reduce further, adding to improving affordability levels, stabilising prices, strengthening buyer confidence and stimulating activity in the slow property market. 
Rising unemployment and increasing living expenses, including the introduction of the carbon tax, are expected to put pressure on mortgage holders, with 57% of Queensland members expecting increased mortgage defaults in their region. 
The commercial property market is displaying signs of recovery, especially the Gold Coast’s office and industrial markets, where investors are locking in strong returns. 
The commercial property market in Queensland has moderated in recent times, with property prices remaining stable, and this is expected to continue for the coming six months. 
Construction for the 2018 Commonwealth Games, the election of Campbell Newman and the Gold Coast rapid transit project have delivered a life in confidence in the region. 
The strength of the mining and resources sectors is propping up the rural property markets in the state, where investors are expected to capitalise on strong rental markets. 
Activity in rural property markets will be driven by the key significant factor of commodity prices and value of the Australian dollar as it impacts on the state’s export potential.
Mike Gray is chairman of <a target="_blank" href="https://www.firstnational.com.au/">First National Real Estate Queensland.</a>
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Any Queensland property market recovery likely to be gradual

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Double Bay estate agent Michael Pallier will leave Raine &amp; Horne Double Bay after 11 years to head Sotheby's Sydney flagship after a three year absence from the Australian market.
''We know the overseas market has some exceptional properties but now we have the opportunity to showcase our finest to the world,'' Pallier told his local paper, The Wentworth Courier.
The first Sydney property to be listed under the Sotheby's brand will be a 2,000-square-metre estate on the Vaucluse waterfront with $25 million-plus price expectations.
The agency will compete with Christies International and Savills, the other international residential agencies with a strong presence in Australia.
Pallier says joining Sotheby's is a once-in-a-lifetime opportunity. He can't advise on the sign-up franchise fee or the ongoing commissions of possibly five percent or higher.
He was previously at Raine &amp; Horne Double Bay, having taken up real estate in late 1997 at McGrath after being a leading Mercedes car salesman. His clients from his car sales days have continued to deal with him including most recently, Stephen Brown, the boss of the 1st Fleet trucking company, and his wife, Corrine.
Pallier's earliest property listing in March 1998 was the Rose Bay unit of the retired ballet dancer Anna di Cardi for $420,000. His next listing was Radford, one of the two contemporary Point Piper waterfronts built on the Paradis sur Mer site, which sold to the Magid family at $7.35 million.
He left McGrath for Laing &amp; Simmons Double Bay and has been at Raine &amp; Horne since 2001.
"I have the highest respect for the Raine family and I would not have left for any other brand but this is Sotheby's and it's a chance to be part of a worldwide network,'' says the agent, who secured over $200 million in property sales in 2010-2011.
Pallier has signed an exclusive 25-year master franchise agreement with Sotheby's, and fellow Raine &amp; Horne Double Bay agents Warren Davis and James McCowan will join him at the re-activated agency.
McCowan will take up the role of Sotheby's NSW and ACT director of sales.
The Sydney office will be located at Double Bay, with additional offices planned in Sydney's north shore and CBD between 2013 and 2015.
It was in 2009 when the prestigious international art auction house sold its Australian arm to a rival company headed by Sydney businessman and auctioneer Tim Goodman that the real estate side of the company was closed.
This week Raine &amp; Horne Double Bay, led by principals Martin Maskin, Barry Goldman, Ric Serrao and Mark Goldman, beat off challenges from the likes of Raine &amp; Horne Gladstone and Raine &amp; Horne Darwin, to scoop most of the major office annual awards within the Raine &amp; Horne network including Top Office (Number of Sales), Top Office (Dollar Value) and Top Office (Auction Listings).
Mr Serrao grabbed second place in the Top Salesperson (Dollar Value) category and was runner-up in the Top Principal 
(Number of Sales) behind Raine &amp; Horne Charmhaven’s Andrew Sorensen.
“We’ve come a long way since our foundation as a small office with just four real estate agents in 2001,” says Mr Maskin.</body></html>

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Michael Pallier quits R&H to re-open Sotheby's Australian real estate office

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The median rental yield for units in Darwin, according to Residex. The median unit rental is $470 a week, which is up 8.05% on a year ago.
 
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The median rental yield for units in Canberra, according to Residex. The median unit rental is $485 a week, which is up 10.23% on a year ago. 
 
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<img src="/images/stories/2012/08/5point92percent.gif">
The median rental yield for units in Hobart, according to Residex. The median unit rental is $295 a week, which is up 11.32% on a year ago.
 
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<img src="/images/stories/2012/08/5point56percent.gif">
The median rental yield for units in Brisbane, according to Residex. The median unit rental is $375 a week, which is up 7.14% on a year ago.
 
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<img src="/images/stories/2012/08/5point51percent.gif">
The median rental yield for units in Sydney, according to Residex. The median unit rental is $515 a week, which is up 13.19% on a year ago.
 
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<img src="/images/stories/2012/08/5point42percent.gif">
The median rental yield for units in Perth, according to Residex. The median unit rental is $445 a week, which is up 20.27% on a year ago.
 
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<img src="/images/stories/2012/08/5point22percent.gif">
The median rental yield for units in Adelaide, according to Residex. The median unit rental is $300 a week, which is up 3.45% on a year ago.
 
 
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<img src="/images/stories/2012/08/4point79percent.gif">
The median rental yield for units in Melbourne, according to Residex. The median unit rental is $395 a week, which is up 9.72% on a year ago.
 
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<img src="/images/stories/2012/08/5point40percent.gif">
 
The median rental yield for units across Australia, according to Residex. The median unit rental is $415 a week, which is up 15.28% on a year ago.
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