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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UK fashion retailer Topshop will open up its third Melbourne store in the new Myer Emporium, currently under construction in the CBD.
The lease agreement with Topshop was announced by the owner of the $450 million development, listed property trust CFS Retail Trust, as part of its annual results presentation.
News of the third Topshop lease follows <a href="https://www.propertyobserver.com.au/retail/topshop-set-for-second-melbourne-store-as-fast-fashion-retailers-expand-down-under/2012081456011" target="_blank">GPT Group revealing in its half-year results earlier this month that Topshop would lease space at its Highpoint Shopping Centre in Maribynong.</a>
Topshop opened its first Melbourne outlet on the Chapel Street strip in South Yarra in December last year.
CFS Retail Trust also revealed that another major international retailer is carrying out due diligence on a lease in Myer Emporium.
Emporium Melbourne is the Lonsdale Street component of the redevelopment of Myer Melbourne. The Bourke Street component was opened in March last year.
Emporium Melbourne will include 38,000 square metres of retail space and is scheduled for completion in late 2013.
CFS Retail Trust reported a net profit of $409.2 million, 23% lower than $532.6 million it reported last year.
The REIT owns a $7 billion portfolio of shopping centres including Chadstone Shopping Centre in Melbourne, Chatswood Chase in Sydney and the DFO chain.
Topshop is wholly owned by <a href="https://www.propertyobserver.com.au/retail/topshop-set-for-second-melbourne-store-as-fast-fashion-retailers-expand-down-under/2012081456011">Phillip Green from the Arcadia Group</a> and first existed in the basement of a Peter Robinson department store in 1964.
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Topshop to open third Melbourne outlet in Myer Emporium

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Eight months ago self-promotional US real estate analyst Jordan Wirsz came to Australia to tell anyone who would pay to listen that Australian house prices would fall 60% over the next five years.
Wirsz’s outrageous claims even went further than US property bear Harry Dent, who has tipped a 50% slide.
Although not many people in the property market have heard of him, Wirsz’s contentions that Australian house prices would crash garnered headlines in the News Limited press of a “Bloodbath to hit Australian real estate”, while the ABC went so far as to call him a “global property analyst”.
His “bold predictions” about the Australian market can still be purchased for an $89 “enrolment fee”, but it appears that he now prefers to keep his opinions to himself.
“I have many 'thoughts' on the Aussie property market, but I’m really not all that eager to get into media debates again,” Wirsz tells Property Observer.
“I’d rather come back in a couple years and discuss it then.”
Well-known property market analyst <a target="_blank" href="https://www.propertyobserver.com.au/residential/us-doomsayer-jordan-wirsz-s-predicted-60-drop-in-aussie-house-prices-silly-analysts/2012020353244">Margaret Lomas debated Wirsz when he visited in February.</a>
She says she challenged him on his facts and Wirsz’s only response was to say they were “on the internet”.
It appears the Wirsz continues to cherry-pick stories about the Australia property market to justify his claims.
In March, Wirsz’s Facebook page linked to an article that appeared in Perth Now with the headline “Property prices battered: Top 10 worst hit areas revealed”.
Wirsz commented that “It happening just as predicted....”, although the article said that home prices had lost almost half their value in “some parts of Australia”, with an RP Data list of the top 10 median price drops in percentage terms for 2011.
His Facebook page profile picture shows Wirsz hugging American self-help author and motivational speaker Anthony Robbins.
Wirsz suggests he's achieved over $500 million in sales and advised Fortune 500 CEOs about real estate investments.
He describes his life so far on his Facebook page as “a storybook tale of rags to riches, overcoming the ever-so-common challenging childhood, and working hard to attain his massive successes”.
Other descriptions appear plucked straight from Charles Dickens.
He describes himself <a target="_blank" href="https://www.prweb.com/releases/Jordan_Wirsz/Dallas/prweb3988434.htm">on PRWeb</a> (a press release distribution website) as “having come from a broken home and spending much of his childhood alone, even calling 4-1-1- up to 25 times a day just to hear another human's voice, has decided to take his challenges and turn them into a passion for feeding the world his secrets to his extraordinary success”.
His Facebook page is full of motivational quotes.
He lists as his “awards” as “recognised by members of Congress, Senate, and state hovernment” and describes himself  as a “former fund manager, private capital financier”.
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US doomsday forecaster Jordan Wirsz now prefers to keep Australian housing crash predictions to himself

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Today I want to offer the community seven tips for investing in property. It was a challenge to list just seven because there are so many that I feel I could pass on – and I am very much a “beginner” investor myself!
That said, I genuinely believe that beginners can offer some of the best tips and advice to the market, for three reasons:
<ol>
<li>Beginners make the most mistakes. It’s true!</li>
<li>They are always making the “freshest” mistakes, so their advice is usually the most current. For example; new first-home owners’ grant changes and lessons learnt for those undertaking new loans around these</li>
<li>As less “seasoned” investors, beginners are more likely to be outraged by little stumbles they come across along the way, versus experienced investors who are less likely to be vocal about mild stumbles. This is also probably because experienced investors tend to make fewer mistakes. Or if they do, they are more obscure mistakes, and ones less relevant to new investors. For instance, dealing with a builder pulling out of a 20-unit development at the last minute. I would not imagine many young aspiring investors to find themselves in any kind of 20-unit development issues! </li>
</ol>
But it is not all about mistakes, sometimes the best tips to pass on are ones learnt from personal innovation. So today I’ll draw from actual personal experience, mistakes, successes, and learnings that I’d made in the first five years of my investment career.
1. Choose an investment strategy (and stick to it). I’ve put this tip first, because it is probably one of the first decisions you need to make (After, of course, you’ve made the decision to explore property investment to begin with!). Choose a strategy that is as flexible as you think you’ll need it to be, and one that is akin to your personal risk profile. Some investment strategies to consider include:
<ol style="list-style-type: lower-alpha;">
<li>
Buy-and-hold. This is where you grow a portfolio of numerous properties during an acquisition phase, then hold on to them for at least two cycles of the property market (so, at least 15 years, but ideally longer) and sell off most of the portfolio gradually as you get closer to retirement age.</li>
<li>
Renovate-and-hold. This is similar; you slowly acquire a portfolio of multiple properties over time but buy properties that are undervalued; do some cosmetic (or with more experience, non-cosmetic) renovations, then keep the property mid-long term, creating </li>
<li>
Flipping. This is in effect buying undervalued property, renovating as per above and quickly selling for profit. A strategy best used for more experienced investors due to the high costs associated with buying/selling property quickly. </li>
<li>
Property development. Again, more for very experienced and seasoned investors; this may be the area where some investors hope to end up in their career. Involves designing, building, selling (and/or holding) a development of units/townhouses etc from beginning through to completion. </li>
<li>
Create your own strategy! There is no “right” or “wrong” approach, provided you have a detailed strategy documented from the beginning, with clear goals in mind.</li>
</ol>
 
2. Build not just an invaluable “crew” around you – but an invaluable “network” as well. Many experts and seasoned veterans are quick to write at length about building your “crew” around you (key accountant, solicitor, broker, financier, tradespeople, and mentors). While this is of vital important, my tip is to think beyond these immediate people’s value and think to your peers and like-minded groups around you. Think networking. Attend property investment seminars, shows, and talks.
Have logins to the key blogs and networking sites and read/post on them regularly. The good ones (Somersoft Forums, for example) will have threads on virtually every topic imaginable within property investment. Also, if you don’t already have one, get a LinkedIn profile and search for some great user groups/communities that are actually freely engaging and blogging on specific topics within property investment strategy. I’m a member of several Linked In groups and would recommend these ones for those starting out:
<a href="https://www.linkedin.com/groups/Investment-Property-Australia-New-Zealand-2916736?gid=2916736&amp;trk=group-name" target="_blank">https://www.linkedin.com/groups/Investment-Property-Australia-New-Zealand-2916736?gid=2916736&amp;trk=group-name</a>
<a href="https://www.linkedin.com/groups/Real-Estate-Investment-In-Australia-2920696?gid=2920696&amp;trk=group-name" target="_blank">https://www.linkedin.com/groups/Real-Estate-Investment-In-Australia-2920696?gid=2920696&amp;trk=group-name</a>
<a href="https://www.linkedin.com/groups/PropertyWizz-Australia-2950747?gid=2950747&amp;trk=group-name" target="_blank">https://www.linkedin.com/groups/PropertyWizz-Australia-2950747?gid=2950747&amp;trk=group-name</a>
 
<hr class="system-pagebreak">
 
3.Run your numbers; then run them again. This is a very common-sense tip but one that must be mentioned. Run the buying/holding costs against current interest rates, but then run them again, a full three percentage points higher than the rates of the day. What you are doing is checking to see if you can still afford to hold the investment at these rates. If you can’t, you should reassess your plan of attack.
 
4. Target market should be at the heart of all you do. Another tip that falls under the “due diligence” category is this: “target market is king”. Property investment is a business, and as such you must treat your property(s) as your product that you are “selling”. What do I mean? Well, your ability to hold your first property cost-effectively (which in turn gives you good breathing space so you can buy your time, allowing equity to grow in this property, in turn allowing you to springboard to property number two, three, fourand beyond) is all dependent on your ability to get the maximum rent return for that property. How do you do this? You have to know who your target market for that property is and then play to that. For example, a one-bedroom apartment in an outer-suburban, family-focused market will not have much demand for it.
This means that even if you purchase this unit for a cheap rate, the rent you can command for it will also be dirt cheap, making it expensive to hold onto. Know who your target market is and who your ideal tenant will be for any property purchase and then play to it. The example I gave was an easy/logical one – but real life is much more blurry. For instance; in the middle to inner suburbs of a city, is it smarter to go for a small two-bedroom unit without parking or a larger one-bedroom with study/home office enclave, and parking? You need to know who your target market is beforehand.
 
5. Consider an early access clause when buying. This is most relevant for those looking to renovate and hold, or to “flip” a property. In most states and territories, settlement from the point of exchanging contracts to actually owning a property is typically up to six weeks. If you’re able to negotiate early access to a property before you actually retain ownership of it is a great way to save money.
Why? Because if you need to carry out any works on the property, you’d typically have to do this at settlement – which means you would need to be making mortgage repayments while you spend however long you need to tarting up the property. However, if the renovations are only light or “cosmetic”, these works can be carried out in a matter of weeks, and if you can do this work before actually taking ownership, you’re already ahead. Another tip within this, from a tax perspective, is to attempt to get any tradespeople or those sending invoices for work done to do this after you settle. If works are carried out and invoiced with dates earlier than the final settlement date, you may not be able to claim these works in your income tax assessment at the end of financial year.
 
6. Prepayment before end of financial year. Another tip, again around finance and works carried out, is to pre-pay any rates/levies/works by Jun 30th of that financial year for the year ahead. For instance, if you’re able, it can be better to be pre-invoiced for some repairs and renovation works that are to be physically completed in say September or October before June 30th, as a portion of your deduction entitlement will be attributed to that financial year instead of having to wait another nine months or so for tax deductable incentives.
 
7. Remove all personal taste from the picture. Sounds easy, but this can be one of the hardest things to do. I read a psychology whitepaper recently that was focused on the psychology of why human beings become so attached to the places they live in and the “sense of home” we attribute to bricks and mortar. Even with your “investor” goggles on, it can be sometimes hard to inspect a property and not start having thoughts about things you personally like or dislike. Instead, become like Neo in the Matrix – he sees the artificial world of the Matrix for what it really is – a series of computer programming code. Like Neo, you need to see the potential for profit and revenue from a property – and not the fact that you don’t like the curtains in the kitchen, for instance. Let’s say you’ve nailed down your list to two candidates – two great properties.
Let’s say they are outer-ring capital city apartments; both in the same suburb, on good/quiet streets, have similar quarterly outgoings, and on the market for the same price. One is a top-floor two-bedroom of 85 square metres, separate bath/shower, internal laundry, balcony, and lock-up garage. But the paint work is hideous, the bathroom tiles outdated, and the light fixtures yellowed with age, and the building is a not-too-pretty 1970s yellow-brick walk up. The second apartment is a two-year old modern apartment, 65 square metres, on the ground floor, with one bedroom only, no bath, and on-street parking only. But it’s pretty. It looks like the kind of place you could see yourself living in. Well that’s great, but you’re restricting your potential target market more with the modern apartment. It would be smarter to go with the one you think is ugly.
Most times, the aesthetic negative factors of a property aren’t a major issue to would-be tenants. And besides, cosmetic touch-ups are easier to sort out between tenancies once you are holding the property.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
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cmcevoy-Go82SmsJA9

Seven tips for beginning property investors

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This week's top sale was a four-bedroom Castle Cove house that sold for $4,075,000 at its weekend auction.
The Marston Architects-designed property was the subject of a hotly contested bidding war between two bidders, who pushed the price up from $3.6 million to its sale price.
The 2010-built house was sold by Adam First National agent Neil Adam in conjunction with LJ Hooker agent Heidi King. Adam describes it in its marketing as a "symphony of style and creative design". 
1. <a href="https://www.myrp.com.au/n/115-neerim-road-castle-cove-nsw-2069/myrp-490?propertyId=1774742">115 Neerim Road, Castle Cove, NSW, 2069</a>, four-bedroom house, sold at auction on August 18 by Adam First National for $4.075 million
2. <a href="https://www.myrp.com.au/n/7-davidson-avenue-warrawee-nsw-2074/myrp-490?propertyId=7311958">7 Davidson Avenue, Warrawee, NSW, 2074</a>, five-bedroom house, sold prior to auction on August 16 by L J Hooker Wahroonga for $3 million
3. <a href="https://www.myrp.com.au/n/26-bangalla-street-warrawee-nsw-2074/myrp-490?propertyId=7311244">26 Bangalla Street, Warrawee, NSW, 2074</a>, six-bedroom house, sold at auction on August 16 by L J Hooker Wahroonga for $2.5 million
4. <a href="https://www.myrp.com.au/n/5a-fortescue-street-chiswick-nsw-2046/myrp-490?propertyId=1854960">5A Fortescue Street, Chiswick, NSW, 2046</a>, four-bedroom house, sold at auction on August 18 by McGrath Estate Agents for $2.25 million
5. <a href="https://www.myrp.com.au/n/3-pine-avenue-camberwell-vic-3124/myrp-490?propertyId=10224553">3 Pine Avenue, Camberwell, VIC, 3124</a>, four-bedroom house, sold at auction on August 18 by Marshall White &amp; Co for $2.01 million
6. <a href="https://www.myrp.com.au/n/28-jackson-street-balgowlah-nsw-2093/myrp-490?propertyId=1222684">28 Jackson Street, Balgowlah, NSW, 2093</a>, five-bedroom house, sold prior to auction on August 17 by Belle Property Manly for $1.785 million
7. <a href="https://www.myrp.com.au/n/7-mooramie-avenue-kensington-nsw-2033/myrp-490?propertyId=3291921">7 Mooramie Avenue, Kensington, NSW, 2033</a>, four-bedroom house, sold at auction on August 18 by N G Farah for $1.782 million
8. <a href="https://www.myrp.com.au/n/7-sandpiper-place-kenthurst-nsw-2156/myrp-490?propertyId=14194683">7 Sandpiper Place, Kenthurst, NSW, 2156</a>, five-bedroom house, sold on August 14 by Rance Blamey Real Estate for $1.74 million
9. <a href="https://www.myrp.com.au/n/8-stirgess-avenue-curl-curl-nsw-2096/myrp-490?propertyId=2045057">8 Stirgess Avenue, Curl Curl, NSW, 2096</a>, four-bedroom house, sold prior to auction on August 18 by McGrath Estate Agents for $1.7 million
10. <a href="https://www.myrp.com.au/n/11-vears-road-ashburton-vic-3147/myrp-490?propertyId=9363102">11 Vears Road, Ashburton, VIC, 3147</a>, four-bedroom house, sold at auction on August 18 by Marshall White &amp; Co for $1.64 million
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Castle Cove pips two Warrawee homes to claim week's top sale: RP Data

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We live in an information age.
In our fast-paced environment, how can we discriminate the good from the bad in the information-saturated Melbourne property market right now?
At James Buyer Advocates, when we produce a full value rating, we look at hundreds of pieces of information.
We split them into three categories.
Facts – such as a sale price
Opinions – such as the values placed on a home by the highest other bidder, the seller and your own pre-sale opinions
Fluff – uniformed or unsubstantiated advice or guides
Take one of the many property websites popping up, such as onthehouse.com.au, which last week said 45 Middle Crescent Brighton could sell for $1,967,900 to $2,089,900. The house sold for just under $3 million, so you’d be pretty disappointed as a buyer if you’d been relying on the site’s “guesstimate”. That wasn’t opinion, that was fluff. It was free fluff, but it was useless fluff. This home actually sold within the selling agents’ quote range.
When everything is blended as one, it is important to discriminate good from bad when making decisions.
In this faster world, facts, opinions and fluff can all blend into one, and they can all become information.
As a buyer, unless you live in a cocoon, the opinions that drive your decisions either good or bad are going to be affected by how you interpret the information you receive – facts, opinions and fluff.
We find that good decisions, and therefore good outcomes, are generally based on facts and informed opinion.
Bad decisions, which more often than not lead to bad outcomes, are made with the help of uninformed opinion and fluff.
Where it becomes tricky for many buyers is determining if a piece of information is a fact, an opinion or fluff.
Fact or fluff
As the world gets murkier – that is editorial versus advertorial – it becomes harder for buyers.
The Real Estate Institute of Victoria (of which we are a longer-term member) often gives the market facts and really well-informed opinion – but at other times it can give the market fluff.
Take, for instance, the last median results and the opinion on the market.  The REIV chief executive Enzo Raimondo (he’s OK, and we don’t get it right every day either) supported his latest market opinion stating that Balwyn had strongly improved in prices in the last 12 months and was nearly back at its peak in 2010.
The REIV claimed, as a fact, that the median quarter price in Balwyn has gone up by 26% in three months and that Balwyn tops the list at 20% for June median price quarter improvement in the last year.
“Wow,” you say, “That’s a fact – that’s useful and relevant information when buying in Balwyn”.
But is it a fact or is it just some fluff to fill some space?
Let’s look a little deeper into the star-performing suburb of Balwyn. Let’s check out the “facts”.
The REIV’s June quarter median was based on 43 sales – fully 25% had no sale price recorded next to them. Not just undisclosed. But blank. Agents voluntarily provide this information. So the REIV had to ignore a full quarter of the June quarter’s transactions to come up with its median house price.
Why so many unrecorded prices? Well, in a weaker market like we’ve got now, agents and sellers become reluctant to record all sale prices for reasons of ego or business.
 
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According to the REIV, the median price for Balwyn this June quarter was $1,540,000. Where did the organisation get that price from? A median price is normally the middle sale – with half the sales below that price and half above it.  But there was actually no sale in Balwyn at that price.
The way the REIV came up with that price was to take a statistical average of the two middle sales. One of those sales was $1.37 million (40 Jurang Street with Jellis Craig) and the other was $1.71 million (6 Eyre Street with Kay and Burton). That’s a huuuuge gap, a difference of nearly 25%  – so some may say it’s a bit of a stretch to say Balwyn had a $1,540,000 median price based on those two sales.
What if one more of those mysterious Balwyn unrecorded price results had been recorded, and it was below $1,370,000? That would have made the “median” price in Balwyn to $1,370,000, and the median price “growth” would have dropped from 20% to 7%.
If another four or five of those undisclosed price sales had been in the lower half of the pool of results the median price results may well have been lower than the previous year’s median in Balwyn. In other words, what we may well have had is not an increase but a fall in price June quarter 2011 to June quarter 2012.
What if we compare the actual median price sale from the previous financial year with the actual median price sale this financial year just gone, using the REIV’s own data?
According to the REIV, there was a total of 132 sales (16 unrecorded) in Balwyn in 2010-2011, and the overall median sale was 117 Winmalee Road (Christopher Russell), which sold for $1.45 million.  In 2011-12 there was a total of 152 sales (29 unrecorded), and the median price was $1,302,500 for Grosvenor Street (Jellis Craig).
Comparing those two figures it shows a drop in values in Balwyn of around 10% in price between 2010-11 and 2011-12 ending this last June quarter.
That’s a big difference from that 20% increase presented as a fact by the REIV to support strong growth in Balwyn. And that figure of -10% tallies in a lot more closely with what we’ve been seeing at the coalface.
So is it a fact there was big median price increase in Balwyn or is it fluff?
If you are buying a home in Balwyn are you using the -10% or the +20% when assessing historical comparables to formulate your opinion on value and therefore make your “good” buying decision?
And, not to put too fine a point on any of the information you are looking at:
Is it fact?
Is it opinion (informed or uniformed)? or
Is it simply fluff?
Footnote: This article is not about the REIV (we’re members, we like and support the REIV). This article is not about Balwyn per se, because in Toorak 30% of house sales in the June quarter had no figure next to them and in Brighton there were more than 20 sales in the June quarter that had no recorded price (we do not mean undisclosed, we mean no price at all). This article is about the quality of the information you are using to make good long-term home-buying decisions.
Mal James is principal of<a target="_blank" href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.</body></html>

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How to separate facts from fluff about Melbourne’s property market

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Chasing yielding in the range of 8 to 10%, property syndicates have emerged as the dominant player in WA’s commercial property market in 2012.
They are accounting for more than half of all major commercial sales and continuing to look for opportunities, according to Knight Frank.
The company recently sold 1 Adelaide Terrace (pictured below), which is being syndicated by GDI Property Group for $102.55 million. It sits adjacent to the 40-hectare urban renewal project called Riverside that will extend Perth's CBD grid down to the waters edge. The property fund manager GDI launched the unlisted GDI No 36 Perth CBD Office Trust earlier this month seeking to raise $65 million of equity.
<img src="/images/stories/2012/08/1adelaide3.jpg">
GDI suggested its purchase of $102.55 million from Fortius Funds Management reflected a yield of more than 10%.
The 1 Adelaide Terrace property is an A-grade office building totalling 19,825 square metres that was when offered earlier this year 95% leased to five blue-chip office tenants, including the WA government and ASX-listed companies.
The award-winning seven-storey building formerly the headquarters of Woodside was built with large floor plates ranging from approximately 2,500 to 3,000 square metres.
<img src="/images/stories/2012/08/1adelaide4.jpg">
The building has an extensive curved glazed façade with views across landscaped parklands to the Swan River.
The prominent location will be further enhanced with completion of the Frasers suites development directly opposite and the proposed Waterbank project.
It followed on from other significant syndicator purchases of 255-267 St Georges, which sold for $26.7 million.
Another syndication came at 251 St Georges Terrace, which sold for $61.3 million.
Knight Frank managing director John Corbett says syndicates have always been active in the Perth market, but in 2012 they have become the truly dominant player across both the commercial and industrial sectors.
He says while individual developers and private investors struggled to obtain financing in the current market, syndicates are able to bring together a myriad cashed-up smaller investors to secure larger properties.
“The market is working in the favour of syndicators like GDI and Primewest, who have established track records and have excellent data bases of potential investors,” Corbett says.
“Many smaller investors are being frustrated by the lack of quality properties in the $1 million to $5 million range, so the option of being part of a larger purchase is quite appealing.”
“At the same time the traditional competitors for the larger properties are being restricted by issues like flexibility and bank financing.”
Corbett says small investors are also able to secure better yields as part of a syndication, with yields in the range of 8-9% currently being achieved.
“It is still very much a buyers' market, and the syndicators are making hay while the sun shines,” Corbett says.
“The large super funds and other investors will soon be getting more aggressive with their strategies, but for now the syndicators are cherry-picking the best deals.”
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Chasing yields of 8 to 10%, property syndicate investors seek Perth offices

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Wyong on the NSW central coast had the highest population growth from domestic migration for all of the greater Sydney municipalities between in 2010.
But the spurt was confined to Wyong's north-east precinct, where there were 6,450 domestic arrivals and 4,987 domestic departures, giving a net migration jump of 1,463 people. The south and west precinct had slower growth of just 167 people.
The north-east now has a population of 77,757, according to the 2011 census, and 33,361 private dwellings. It has had net gain in migrants every year since at least 2006.
The population is somewhat skewed towards younger people, with the age brackets from 0-19 representing the greatest proportion of residents.
Some 6.7% of the population are university educated, well below the state average of 14.2%. Census data shows 83.2% of the population are Australian born, compared with a state figure of 68.6%. The next most common country of birth is England at 4.1%, slightly higher than the state figure of 3.3%. 
A Wyong Council spokesperson says people are likely attracted to Wyong by its relatively inexpensive house prices.
"What would bring people here would be cheaper house prices than the Sydney market. That would be the major one. The fact you can live in a coastal area with a family and if need be it’s only 1.5-hour commute to Sydney every day via a train service or a drive along the freeway," he says.
RP Data says the median house price in Budgewoi, one of the larger localities in the area, is $278,250, with a median weekly rent of $300.
"There are three new housing developments in the area in suburbs like Wadalba, Hamlyn Terrace and Woongarrah. Developers are developing greenfield sites on traditionally semi-rural hobby farms," the council spokesman says.
"They're predicting in 10 to 15 years it will almost become a satellite city of 40,000. Obviously there's not that many people there at the moment, but they’re our three new areas"
In Hamyln Terrace, a four-bedroom, two-bathroom house on 678 square metres (pictured below) is listed for $390,000.
<img src="/images/stories/2012/08/wyong1.jpg">
Another three-bedroom, two-bathroom home is listed for rent at $415 a week
<img src="/images/stories/2012/08/wyong2.jpg" width="470">
The area was followed by Camden in outer south-western Sydney, with 4,748 domestic arrivals and 3,535 domestic departures, giving a net gain of 1,213 people; and The Hills Shire North in Central Northern Sydney with 5,274 domestic arrivals and 4,269 domestic departures giving a net figure of 1,005.
In the whole of Sydney there was a net loss of 20,249 people due to emigration, as 347,335 people immigrated from within Australia and 367,584 emigrated to other parts of Australia.
The figures represent the largest increases in population due to domestic migration and do not include births and deaths.
Canterbury in Canterbury-Blacktown was the area in Sydney with the greatest number of people leaving, with a net migration loss of 2,570. In fact Canterbury topped the list in Australia for the area with the highest net loss due to migration.
Fairfield East in Fairfield-Liverpool was next with a net migration figure of -1,468, followed by Randwick in the eastern suburbs with a net figure of -1,464.
The ABS data is experimental and is the first time it had been published on an statistical local area level. For some regions with very small populations and unreliable data, internal migration estimates were assumed to be zero.
Net regional migration is the net gain or loss of population through the movement of people from one location to another location within Australia.
The ABS found just over 2 million people moved between statistical local areas during 2010, which was 1.6% lower than in 2009.
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Wyong's attractive low prices on Sydney's outskirts triggers population spike

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The decision to "staple" the management and the assets of Australian listed property trusts in one vehicle in the lead-up to the GFC created a sector more likely to make riskier investments, US academics have argued in an RBA discussions paper.
In a paper titled Securitization and the Commercial Property Cycle, Tim Riddiough from the University of Wisconsin Madison and Frank Packer from the Bank for International Settlements note that Australia’s listed property sector (A-REITs) was among a number of countries including the UK, US and Canada that have been "significantly more volatile than the benchmark market indices".
The benchmark S&amp;P/ASX300 A-REIT Accumulation Index  produced an annual return of -55.3%  in 2008 in the wake of GFC as investors abandoned the A-REIT sector.
The report by Riddiough and Packer notes that there was both a dramatic increase in the proportion of office properties incorporated into Australian real estate investment trusts (A-REITs) in the years leading up to the GFC as well as even more dramatic rise in the number of trusts that were "stapled" – where asset management is carried out by an entity within the overall REIT structure.
The ASX describes a stapled security “where the trust that holds the assets and the company that manages those assets are bound together through one vehicle”.
The stapling of listed property trusts in Australia allowed them to “take on more property development risk than under a traditional limited property trust (LPT) model”, the paper argues.
According to the paper, between 2000 and 2005 the degree of securitization of office markets via REITS increased markedly rising from around 5% in 2000 to over 35% in 2005.
Then from between 2004 and 2007, “stapled” REITs grew from 29% to over 75% of overall A-REIT capitalisations.
Examples of stapled A-REITs include Westfield, Westfield Retail Trust, Mirvac, Charter Hall Group and Stockland.
A full breakdown of which A-REITs are stapled <a href="https://www.asx.com.au/products/managed-funds-product-list.htm" target="_blank">can be found on the ASX website</a>.
The report notes that only Australia among the listed Asia-Pacific countries has significant internal management, in large part due to the introduction of stapled REITS.
It says that external managed REITs are viewed as “significantly less informationally opaque” than internally managed REITs.
“And given the prevalence of the external REIT structure in Asia, it appears that in the case of these countries, the benefits of external advisorship outweigh the agency costs.”
The report also reveals that Australia has the highest proportion of securitised office assets in the world, with the latest estimate of around 19% of its office market securitised via REITs.
However it notes – and reflecting the deleveraging which has occurred since the GFC – that this number is itself “well below 32% scored earlier before the bust in prime real estate markets during of the global financial crisis”.
The report reveals that US dominates the international REIT landscape, with nearly 180 listed REITs amounting to $455 billion or more than half of total global REIT market capitalisation
Far behind that, yet well above any other country, Australia has 57 listed REITs with $82 billion market capitalisation, occupying 10% of total REIT market capitalisation.
Australia first REIT –  shopping centre and industrial property group GPT –  was listed in 1971.
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'Stapling' of REITs creates riskier investment approach: RBA seminar paper 

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<img src="/images/stories/2012/08/3point95percent.gif">
 
The rental yield for houses in Melbourne, according to Residex. The median house rent is $420 per week, and this is up 10.53% from the same time last year.


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<img src="/images/stories/2012/08/4point36percent.gif">
The rental yield for houses in Sydney, according to Residex. The median house rent is $555 per week, and this is up 5.71% from the same time last year.


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<img src="/images/stories/2012/08/4point66percent.gif">
The rental yield for houses in Adelaide, according to Residex. The median house rent is $350 per week, and this is up 4.48% from the same time last year.


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<img src="/images/stories/2012/08/4point92percent.gif">
The rental yield for houses in Perth, according to Residex. The median house rent is $450 per week, and this is up 15.38% from the same time last year.


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<img src="/images/stories/2012/08/5point15percent.gif">
 
The rental yield for houses in Canberra, according to Residex. The median house rent is $525 per week, and this is up 9.38% from the same time last year.
 
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<img src="/images/stories/2012/08/5point19percent.gif">
The rental yield for houses in Hobart, according to Residex. The median house rent is $340 per week, and this is down 2.86% from the same time last year.
 


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<img src="/images/stories/2012/08/5point21percent.gif">
 
The rental yield for houses in Brisbane, according to Residex. The median house rent is $425per week, and this is up 10.39% from the same time last year.


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<img src="/images/stories/2012/08/5point65percent.gif">
The rental yield for houses in Darwin, according to Residex. The median house rent is $560 per week, and this is up 7.69% from the same time last year.
 
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<img src="/images/stories/2012/08/4point9percent.gif">
The rental yield for houses Australia-wide, according to Residex. The median house rent is $405 per week, and this is up 8% from the same time last year.
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Melbourne's 3.95% is lowest of capital city house rental yields: Residex state-by-state analysis

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Pittwater at the far end of Sydney's northern beaches and Campbelltown in the outer south-west have been the strongest-performing rental markets in and around Sydney over the year to June, according to research by PRDnationwide.
Pittwater and Campbelltown units recorded annual rental increases of 16.3% and 14.8% respectively over this period.
RP Data shows that Pittwater units have a weekly rental of $320 while Campbelltown has a median weekly rental of $305.
There was also double-digit rental growth in Shellharbour, the southern beachside suburb of Wollongong and in Lake Macquarie, about 150 kilometres north of Sydney as the outer ring of Sydney and outer parts of the greater metropolitan region (GMR) experienced strong growth in median rent prices.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/prdaug211.gif"><img src="/images/stories/2012/08/prdaug211thumb.gif"></a>
Source: PRDnationwide
The top-performing Sydney housing rental market was the inner-west suburb of Canada Bay, about 11 kilometres from the CBD. Canada Bay and Maitland (in contrast to its unit market) were the only two localities to manage rental growth in excess of 10% for the 12-month period.
Overall, house rents in Greater Sydney, which includes municipalities between Sutherland in the south and Wyong in the north, increased by 4.5% over the period, compared with a rise of 5.6% for the state.
Click to enlarge
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Source: Housing NSW
For the standard three-bedroom house, the top performers were Hurstville (7.3%) and Shellharbour (7.1%).
"Interestingly, the northern part of the greater metropolitan region (GMR), which includes the central coast and Hunter regions, dominated the top-10 list for a three-bedroom house, with five entries," notes PRDnationwide.
The Mosman, Woollahra and Waverley municipalities recorded the highest median rent.  These municipalities capture some of Sydney’s most dense suburbs, and Mosman and Woollahra are among the most exclusive.
Woollahra has a median weekly rent of $1,275.
“The high rent prices are the result of scarcity in detached houses in these locations, and their proximity to iconic beaches, the Sydney CBD and vibrant commercial centres,” says PRDnationwide.
The five areas to record a decline in detached housing rent – Wollongong, Lane Cove, Botany Bay, North Sydney and Woollahra – reveal a shift toward affordability, says the property group.
In North Sydney, the median rent for a house declined by 10.8% over the 12 months between June 2011 and 2012.
“In the Botany Bay LGA, the decline in the median house rent may be linked the rise in medium density developments, with tenants preferring modern apartments over mostly older house stock,” says PRDnationwide.
The strong increase in rent on the outer parts of the greater metropolitan region is also linked to the search for affordability, with the high rental growth areas of Shellharbour, Wyong and Cessnock also identified in the most affordable in the Sydney greater metropolitan region.
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