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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Home values have been on the rise nationally over August, on track for the third consecutive monthly rise, according to RP Data Rismark home value index.
The report notes prices have risen a modest 0.3% over the first 17 days of August and unless there is any deterioration in the daily readings over the rest of the month, RP Data's research director Tim Lawless predicts a positive month of value change.
The rises were consistent across all capital cities except Perth, where prices eased 0.9%  over the same period.
Sydney has been the only city to experience price growth for the year to date, with prices rising 2.1% to August. Across all capital cities prices are down 0.5% for the year to date.
If the trend for this month continues it will be the third month running where dwelling values have improved across the combined capital city markets, which Lawless suggests is a good indication that market conditions have moved through the bottom of the cycle.
Although home values have continued to increase over the month, the rate of growth has slowed down.
Values rose by 1.0% in June, 0.6% in July and the report expects the August result to be inline or slightly lower than the growth in values in July.
"With no interest rate cuts over recent months it will be interesting to see whether the slowing continues or momentum builds as we enter the spring selling season," Lawless noted in his <a target="_blank" href="https://blog.rpdata.com/2012/08/capital-city-home-values-continue-to-rise-during-august/">blog</a>.
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Home values on track to rise for third month running, albeit slowing: RP Data Rismark

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A private investor has snapped up the distinctive Mitre Tavern in the Melbourne CBD for $6.25 million.
The thriving English-style pub with a Queen Anne feel dating back to its 1910s makeover was passed in at auction last week for $6.05 million.
It had pre-auction hopes of $6.5 million, with selling agents Kristian Peatling and Warwick Bramich saying its current net annual income is $430,000 plus GST.
<a href="https://www.propertyobserver.com.au/news/pints-on-offer-but-few-punters-as-melbourne-watering-hole-the-mitre-tavern-passed-in-at-%24605-million/2012081055960">The August 10 auction drew a large crowd</a> – many from the property industry – but received just two bids
The highest bidder had first right to negotiate with the vendor to purchase the tavern.
The selling agents have not disclosed the identity of the buyer.
Set on Bank Place, between Collins and Little Collins streets, the pub last traded at $6.3 million in 2008 when bought by Toorak investor Ian Hicks from the hotelier Robertson family. There was a $4.6 million transfer in 2006 and a $5.75 million transfer in 2004.
Classified as being of historical and social significance to Victoria, the Mitre claims to hold one of the oldest continuous pub licences, granted in 1868 when a two-storey private dwelling was converted to a drinking house.
The bluestone coaching house Mac's Hotel in Franklin Street has been operating since 1853.
It's being offered with a long-term lease.
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Mitre Tavern sells for $6.25 million to private investor

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ANZ chief executive Mike Smith has played down concerns about the subdued housing market by providing measured commentary on the contraction in house prices as the bank reports underlying profit of $4.5 billion for the nine months to the end of June.
The result was up 5.5% on the previous corresponding period, in line with half-year forecasts.
“There has been a correction in housing prices, but frankly this has been modest and quite orderly,” said Smith in a results briefing today.
Smith says the bank is “not running the business on the hope that the subdued lending environment will end anytime soon”.
“We won’t see pre-GFC credit growth anytime soon in the future,” he said, adding that this was the "new norm".
“We are not seeing anything that surprises us.
"Boring is the new black, and we are happy to be boring."
Smith reported that lending assets grew by 7.7% over the nine-month period, strengthening ANZ's funding profile, and he called the overall result a “solid performance”.
“We are upbeat about the business and where it is heading,” he added.
ANZ chief financial officer Shayne Elliott confirmed this subdued outlook, saying credit trends have been “as expected”.
Elliott says the bank’s retail lending book (mortgages) is performing well, "although there has been some stress in our commercial lending book, but this is not having a material impact".
While big four rival the Commonwealth Bank reported a small contraction on net interest margins on financial products, ANZ said group margins have been stable and Australian margins had increased slightly after declining 13 basis points in first half of the year.
The Australian Financial Review reported that this was a sign that the bank’s contentious decision to adjust interest rates outside of the Reserve Bank of Australia’s cycle on the second Friday of every month was starting to pay off.
However, Smith also acknowledged the decline in customer satisfaction ratings for ANZ – as reported by Roy Morgan – dating to the decision to implement the independent interest rate review.
He said the bank was looking to address this and was working on new initiatives in the Australian network with details to be announced later in the year.
“Market share in traditional banking, household deposits, household lending and commercial has increased despite challenging economic conditions. While asset repricing has been largely offset by deposit pricing pressure the divisional margin has recovered slightly since the end of the first half,” said the bank in a statement.
“The productivity program announced earlier in the calendar year is on track to deliver a half on half decline in expenses. Credit quality is sound and within expectations in both the retail and commercial books including 90 day mortgage arrears which have reduced further from the end of the half."
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House price correction 'modest and orderly': ANZ boss Mike Smith

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Property investing may be simple, but it’s not easy. And that’s not a play on words. 
When you look at the statistics and see that most investors never get past their second property, you realise that most who get into real estate won’t achieve the financial freedom they were looking for. 
While it’s possible to make good money in property, it will be more of an uphill battle in the current slow real estate markets. However, avoiding some classic mistakes will help keep you on the right track. 
So let’s look at them. 
1.  A plan? I’ll just go ahead and buy something 
Deciding you’re going to be a property investor is more complex than just buying a property. Approaching investing without a well thought through strategy that fits in with your long-term wealth creation goals and financial situation is a fool’s journey. 
You would never take off in your car without knowing where you intend to go and how you plan to get there. As a property investor you should map out where you want to be in five, 10 and 15 years’ time, then construct a detailed plan to take you there. 
2.  I can do it all myself! 
All successful property investors build a great team around themselves. I often say that if you’re the smartest person on your team, you’re in trouble. 
However, you can’t blindly hand over financial control to your finance broker, accountant or solicitor.  It’s your responsibility to gain knowledge about the property investment business and become financially smarter – what I call financially fluent. This will teach you the right questions to ask your advisors. 
3. Research? Who needs it 
I’ve met investors who researched the purchase of their new car more carefully than their investment property. 
Many buy their investment close to where they live, where they holiday or where they want to retire. They make emotional purchases in locations that are in their comfort zone. 
The due diligence that goes into purchasing an investment must be more rigorous than that. 
As an investor, there are only three good reasons to “fall in love” with a property: it fits your investment strategy and goals; the numbers work; and it has upside potential. 
Never let your emotions drive your investment decision; that’s what homebuyers do, not people looking to create wealth with real estate. 
4. Losing sight of the big picture 
Sure, property is a long-term investment and the costs of buying and selling are considerable, but that doesn't mean you should fall into the trap of not regularly reviewing your property portfolio. 
Do you own the type of properties that will allow you to take advantage of the next property cycle? 
Remember, over the next few years some properties will strongly outperform others. If you own secondary properties or real estate in areas that are unlikely to benefit from strong capital growth, it may be worth selling up and replacing them with the type of property that will help you develop long-term financial independence. 
When was the last time you checked to make sure you were getting the best rents or that your mortgage was appropriate for the current times? Maybe it's time to refinance against your increased equity and use the funds to buy more properties? 
5. I’m going to buy a property and make millions! 
If you are like me, you get regular emails promising you instant real estate riches. These pander to those investors who are really speculators looking for that one big deal that will make them overnight millionaires. Trust me, these doesn’t exist! 
Warren Buffett wisely said: “Wealth is the transfer of money from the impatient to the patient.” 
Successful investment is about patience and time. It can take two to three property cycles to build a sufficiently large asset base to allow you to fire your boss. 
7. I’m looking for a bargain! 
Sure you make your money when you buy your property, but you set yourself up for property investment success by buying the right property, not a cheap property. 
8. A lick of paint and I’ll make a killing!
Popular TV shows like The Block have created a new generation of “want to be” renovators and developers. 
I’m all for adding value through renovations; but you can’t buy a property, do minimal work and then sell it at a profit, because stamp duty, buying and selling costs and tax eat away at your profits. 
On the other hand, buy, renovate and hold in the long term is a great investment strategy. 
9. Risks? Bah-humbug! Bring on the rewards! 
Some investors don't understand the risks associated with property investment and therefore don't manage them correctly. 
Strategic investors don't only buy properties; they buy time by having financial buffers in place to not only cover their negative gearing, but to see them through the down times like we have experienced in the last few years. 
Another way smart property investors protect their assets is to buy them in the correct ownership structures to legally minimise their tax and protect their assets. Most wealthy property investors own nothing in their own names, but control their assets through companies or trusts. 
The reality is that if investing in real estate were easy, everybody would be successful at it. Fortunately, many of the struggles that investors endure can be avoided with proper education, planning and due diligence.
Michael Yardney is the director of <a target="_blank" href="https://www.metropole.com.au/">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 target="_blank" href="https://propertyupdate.com.au/category/property-investment/"> Property Investment Update blog.</a>
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Nine classic mistakes foolish property investors make

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The former South Melbourne headquarters of the Royal College of General Practitioners has been sold with vacant possession for a healthy $9 million  by Lemon Baxter director Paul O’Sullivan.
<img src="/images/stories/2012/08/generalpractitioners.jpg">
The buyers are believed to be proposing a refurbishment and re-lease of the building to take advantage of the improving market.
The Palmerston Crescent property sold to a joint venture between Guy Nelson’s Alpha Partners and the JAK Investment Group.
The four level offering with 3,000-square-metre space had been the home of the medicos for 18 years.
The Royal College of General Practitioners has relocated to East Melbourne.
O’Sullivan says the sale price for the historic site reflects growing confidence in an ever improving property market.
Nelson was formerly Macquarie’s head of property, and JAK is owned by Nelson’s former colleagues Adam Jane and Daniel Knights.
The property also has future high-rise development potential.
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The Royal College of General Practitioners South Melbourne HQ fetches healthy $9 million

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It says something about the astuteness of the Lowy family that the twin vehicle structure they created nearly two years ago is starting to deliver the benefits they envisaged.  While it took some time for the market to warm to the hiving off of half Westfield’s Australian shopping centres into a new Westfield Group-managed entity, this year both entities have significantly outperformed their A-REIT peers in terms of sharemarket performance, with Westfield Group up 30% and Westfield Retail up 26% against an index that is up 16%. The philosophy of the Lowys’ restructuring was to put some distance, but not too much, between their development and property-owning interests while releasing capital from the spin-off of Westfield Retail and lowering its own future capital intensity to improve its returns on equity. It also gave investors purer choices of the types of Westfield exposure they were most interested in. Earlier this year they effectively extended the concept to their US portfolio by selling a 45% interest in a portfolio of 12 centres in the US to Canada Pension Plan Investment Board and separately selling 12 non-core centres for $1.4 billion. The $US2.1 billion US deal released about $US1.8 billion of net cash and again leveraged the returns Westfield Group will receive from its development, leasing and management fees. In gross terms, asset sales in the half raised about $4.8 billion. Today’s Westfield Group result for the June half showed earnings up 31% and a return on capital of 11.4%. As a consequence of the US deal and the start of a $2 billion buy-back (Westfield has spent about $440 million so far) that return on capital should continue to rise. The strategic plan, and Westfield’s willingness to continue to pursue it aggressively, has given it a lot of firepower. The joint chief executives, Peter and Steven Lowy, said today the group now had about $10 billion of capital it could redeploy into higher-returning opportunities. There are quite a few of them already underway or in the pipeline. At present Westfield has $1.5 billion of projects under construction (its share is $1.2 billion), it expects to start new projects costing between about $1.25 billion and $1.5 billion in each of the next two years and says the identified pipeline of future developments is about $11 billion. There is demonstrated potential to recycle some of the capital deployed into those projects, or tied up in existing property assets, by selling interests in them into the existing joint ventures or creating new ones. Westfield’s centres tend to be high-end and have proven themselves through the crisis to be quite resilient despite the continuing difficulties being experienced by retailers here and offshore. In Australia, for instance, Westfield was able to extract increases in its average specialty store rents of 3.2% in the half and had comparable net operating income growth of 3.3% even though overall retail sales rose a meagre 0.9% and specialty retailers experienced only a 0.8% increase. As noted previously, the divergence between the experience of the landlords and their tenants – rents continually rising at rates out of kilter with the tenants’ experience – raises a question mark over the sustainability of the traditional business model for property centre owners at a time when retail is experiencing structural as well as cyclical change. The Lowys, of course, by stripping capital out of the property assets by selling interests in them to third parties have materially reduced their exposure to the prospect that in the longer term that risk becomes a reality.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
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Westfield's twin vehicle structure delivering benefits

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<div class="article-content">
The Golden Door health retreats are for sale. Lasseters International has engaged Jones Lang LaSalle Hotels to sell Cypress Lakes and its other Golden Door health retreats. Lasseters says the strong Australian dollar and poor consumer confidence have had an effect on its revenues.
The retreats, which cost guest  up to $3,500 for a week, have been listed by the Singapore-based casino operator.
The offerings comprise the Golden Door Spa and Health Club adjoining the Sheraton Mirage on the Southport Spit, the Golden Door at Salt south of Tweed Heads and the Golden Door Elysia and Cypress Lakes Resort in the Hunter Valley. The assets could fetch up to $30 million, it's been reported.
Lasseters, which owns the Alice Springs hotel-casino, gained a controlling stake in the listed Cypress Lakes group several years ago and has since moved to full ownership.
Expressions of interest are invited by Jones Lang LaSalle Hotels’ managing director – investment sales Australasia, Mark Durran, and senior vice president – investment sales, Peter Harper, who have been exclusively appointed to handle the marketing process.
The properties can be bought as a portfolio or individually.
The Golden Door at Willowvale was described by its 1993 founder Brian Looker as the world's best health resort.
An overview of the respective assets follows:
<ul>
<li>
Cypress Lakes Resort, Hunter Valley, NSW – Situated on a huge 98 hectare parcel in the heart of the Hunter Valley, the Resort features three food &amp; beverage outlets, extensive conference facilities across four venues, leisure facilities and a championship 18 hole golf course. There are also two large development sites as well as a cellar door (currently leased to Brokenwood) and five acres of grape vineyards. Guest accommodation is provided through the management rights of 146 strata titled villas. The property is currently branded as the Grand Mercure Apartments.
</li>
<li>
The Golden Door Elysia, Hunter Valley, NSW - Located adjacent to Cypress Lakes Resort, the purpose built health retreat is the largest of its type in New South Wales. Opened around eight years ago, it features a restaurant, four conference rooms, 26 treatment rooms, and an array of leisure facilities. Guest accommodation consists of 74 one, two and three bedroom villas which are leased from third parties.
</li>
<li>
The Golden Door at Salt Village, NSW - Situated in the heart of Salt Village, the purpose built two-level day spa features 15 treatment rooms and supporting facilities. Salt Village is a master planned beachfront residential and tourist village. Located adjacent to the Peppers Resort and within close proximity to the Mantra and Bale Resorts, the retreat is perfectly positioned to attract a range of market segments.
</li>
<li>
The Golden Door Willow Vale, Gold Coast, QLD – Established in 1993, the property occupies a large freehold rural allotment and comprises the leasehold interest in 35 privately owned strata titled villas which provide a total of 48 rooms. Guest facilities include a reception area, dining room, retail boutique, day spa, exercise room, gymnasium, tennis court and two swimming pools. 
</li>
<li>
The Golden Door Spa &amp; Health Club at Mirage Resort, Surfers Paradise, QLD – Forming part of the Sheraton Mirage Resort and opposite the popular Marina Mirage precinct comprises a single-level purpose-built facility which incorporates 12 treatment rooms, a retail boutique, gymnasium, 25 metre heated swimming pool and four tennis courts. 
</li>
</ul>
</div>
 
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All three Golden Door health retreats for sale

Suburban Cairns unit investors reaping the highest yields amid Australia's most active 50 rental suburbs

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Sydney’s real estate agents were celebrating this week after a Mosman waterfront property – which had been sitting on the market for three years – sold for what was the second highest price this salubrious North Shore suburb has seen so far this year. 
According to the selling agent, two buyers – a Sydneysider and a buyer from China – ended up vying for the property, which helped push the price above the $11 million mark. And although in this case the local won out, Sydney agents are deeply aware that mainland Chinese buyers are providing a welcome boost for the languishing top end of the Sydney property market. 
Sydney, of course, isn’t alone. Chinese buyers are helping to drive up the price of Hong Kong’s luxury apartments, and are emerging as key players in property markets as far afield as London, Singapore, San Francisco and Melbourne. 
There are two reasons why Chinese buyers have become increasingly interested in acquiring offshore assets such as property. In the first place, there’s mounting concern about the Chinese economic outlook, particularly now that exports are clearly slumping. At the same time, Chinese buyers also see their offshore property purchases as a handy insurance policy, in case of rising political instability in their homeland. 
The latest Chinese trade figures show that the European recession is hitting China hard, with exports growing at a miserable annual pace of 1% in July, down from June’s 11.3% rate. The slowing global economy is a major concern for mercantilist countries such as China – which rely on exporting their surplus savings to the rest of the world and importing excess demand. They reap huge benefits when the global economy is growing, but they pay a high price when global growth falters, and when demand for their exports withers. 
But growing capital outflows represent a major economic challenge for Beijing. For the past decade, the Chinese central bank has been engaged in a massive money-printing exercise aimed at preventing the Chinese currency from rising. Huge quantities of yuan were printed so that Chinese banks could absorb the foreign currency flowing into the country, both from the Chinese trade surplus, and as hot money flowed into the country to take advantage of strong Chinese growth and rising asset prices. 
Now this massive inflow of funds has stopped. According to figures released by China’s central bank this week, Chinese banks were net sellers of 3.8 billion yuan ($597 million) in foreign exchange last month, a clear sign that investors are pulling funds out of the country, and that some exporters are choosing not to convert their foreign exchange earnings into yuan. 
Indeed, over the last 10 months, China’s banks have only purchased 145 billion yuan in foreign exchange, a tiny fraction of the 905 billion yuan that China has earned as a result of its trade surplus with the rest of the world. 
As a result, Beijing is now struggling to support its currency, rather than fighting to stop it from rising. Since the beginning of the year, the yuan has dropped 0.7% against the dollar, and the Chinese central bank has had to battle to stop it from falling even further. 
But the pick-up in hot money outflows is also having an impact on Chinese asset prices. There’s little doubt that the huge capital inflows over the past decade played a major role in pushing Chinese real estate and equity markets higher. Now that they’ve changed course, Chinese asset prices are deflating. The Shanghai Composite Index is down 17% compared with a year ago, while Chinese house prices remain under pressure. 
Beijing will be deeply concerned that falling asset prices are savaging business confidence and causing investment to slide, crippling its attempts to revive the flagging Chinese economy.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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Chinese buyers bolstering Sydney luxury property, but Chinese property market under pressure

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The upmarket inner-Hobart suburb of Battery Point, known for its convict history and million-dollar houses, is Tasmania's most crowded, at 3,069 people per square kilometre. The 0.68-square-kilometre suburb has a population of 2,097, according to RP Data.
The Launceston suburb of Mayfield is the most densely populated Tasmanian suburb outside of Hobart, with a density of 2,326 people per square kilometre.
According to June quarter sales figures from the Real Estate Institute of Tasmania (REIT), Battery Point recorded a  median sale price of $1.08 million off just four recorded sales, making it also one of the most tightly held suburbs in Hobart.
Steve Yannarakis from Knight Frank Tasmania, who both sells properties and lives in Battery Point, says the suburb does not feel crowded.
“It’s like any other inner-city suburb such as Paddington in Sydney or Middle Park in Melbourne,” he tells Property Observer.
“There are no blocks of high-rise apartments.”
Yannarakis says houses are built on small blocks – compared with the large blocks in Sandy Bay – and land values are high.
“It’s the most expensive suburb in terms of value per square metre of land.”
He says the REIT figures on Battery Point, which show just four sales, tend to lag the market.
Yannarakis recently sold a heritage home in Battery Point for $1.3 million that he says will settle in a couple of weeks and is likely to be the highest sale of the year.
Yannarakis says Battery Point is also popular with mainlanders.
“They like to buy here if they move to Tasmania.”
“It has everything that you need. It is very close proximity to the Salamanca Place entertainment strip and Hampden Road Village
“It’s very cosmopolitan, for Hobart anyway.”
Angelina Droblina from Ripple Property, who has a number of listings in Battery point including this <a href="https://www.realestateview.com.au/Real-Estate/30-11-battery-square-battery-point/Property-Details-buy-residential-4296751">two-bedroom unit at Battery Square</a> priced at $330,000 and above, describes it as one of the most exclusive suburbs in Hobart.
“It has loads of historically significant property and is aesthetically beautiful offering a village lifestyle on cusp of the CBD,” she says.
She agrees with Yannarakis that it does not have a crowded feel.
“There is only one very tall building in Battery Point -  Empress Towers - and five other blocks with no  more than 20 or 30 apartments in each.
“It is a very highly sought after area."
She says the REIT June quarter figures reflect the current state of the market.
Her most recent sale was a four bedroom, two bathroom townhouse, which she sold to mainlander, who was buying it for his daughter. It sold for $650,000.
According to realestateview.com.au, there are 23 properties for sale in Battery Point.
They include this striking waterfront home at 58A Napolean Street, one of a number of listings being marketedy Yannarakis, which featured in<a href="/news"> Title Tattle in April this year.</a>
The Maria Gigney-designed home (pictured below) incorporating glass and steel blend with Jarrah timber accents and has views across the Derwent River from the Casino to Hobarts Eastern shore.
{yoogallery src=[images/stories/2012/08/aug15battery]}
The original house dates back to 1962 before being upgraded by owner and pharmacist Greg Kay. It includes a 12.5-metre indoor saltwater lap pool.
Given the small number of sales the change in the median price in Battery Point is statistically unreliable but over the last two years, house prices have shown strong growth, up 27% since June 2010.
According to the REIT, there were  133 sales recorded in inner Hobart over the three months to June, a 2.3% increase over the quarter with the median house price rising falling 5.6% to $435,000.
The institute also found that Hobart was the only location to record an increase for the quarter, of 4.8% to a median of $370,000.
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