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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<div id="profile_stats" style="font-family: Georgia, 'Times New Roman', serif; font-size: 12px;">
CEO, Merivale
Born in: Sydney
Friends: <a href="https://www.thepowerindex.com.au/megaphones/alan-jones" style="text-decoration: none; color: #000000;">Alan Jones</a>
Home Town: Sydney
</div>
Every time multimillionaire bar owner and restaurateur Justin Hemmes pops up in the media, labels like "playboy", "bar tsar", "nightclub tycoon", or (our personal favourite) "mega-bucks bar magnate" often appear before his name.
"I'm getting too old to be a playboy," Hemmes tells The Power Index during our hour-long interview in his plush office overlooking the Ivy precinct on Sydney's George Street. Next to his conference table sits a flamboyant silver crown given to him by his singer pal Jay Kay after it appeared on the front of a Jamiroquai album.
"I think they are just tags that don't go away. I need to come up with something new." Hemmes pauses to think for a second. "Master magician?" he whispers manically.
Not exactly how you’d expect the head of a $500 million food and drink empire to respond. But Hemmes is a master at waving his expensive wand and conjuring up adult Disneylands for Sydneysiders to play in.
Justin’s parents, John and Merivale Hemmes, started Merivale as a fashion house before moving in to property. Under Justin’s leadership it’s morphed into a property and hospitality powerhouse, with over 30 bars, pubs and restaurants that dominate the social pages of Sin City.
"I don’t think there is anybody else in Australia who controls so many restaurants, and so many restaurants at such a high standard," says The Australian’s restaurant reviewer John Lethlean. "If you accept the premise that restaurant control is a level of power, he has a lot of power."
Hemmes argues that it’s the customers who hold the power: "The hospitality industry is a service industry and we try and serve people what they want," he says. "I don't think you can be powerful if you're a servant, it's a contradiction of terms."
If weight equalled influence, Hemmes would be in trouble. He looks on the younger side of his 40 years thanks to his height and skinny frame. All golden skin, styled hair and expensive smile, he’s the living embodiment of Sydney.
And perhaps Hemmes’ greatest power lies in knowing exactly what Sydney wants. "It's not just food," says Hemmes. "It's the environment where you're eating, it's the style of food, how you're eating, also beverages, music, ambiance, design."
All of his venues subscribe to this vision. There’s Ivy, the Palm Springs-inspired play house where the beautiful people come to be fabulous. There’s est., the three-hatted restaurant that serves up modern Australian food in a contemporary setting. There’s Felix, the classic French bistro with a wall of European wines. The list goes on and on.
"The influence of the Merivale group on Sydney's dining and drinking scene is massive, no doubt about that. They've got the golden touch," says wine writer Max Allen.
But even a Midas touch can bring with it a dark underbelly. In 2009 a female customer alleged that she was raped in the bathroom at the Ivy Pool Club (the accused was acquitted after a trial in March this year). Last year a driver employed by Merivale was caught by police with a bag of cocaine in the company’s Rolls Royce Phantom.
Merivale’s private security company Our Security has been embroiled in several scandals, including an incident last year where a 19-year-old patron was restrained face down on the ground and beaten in the street, before bouncers shoved a security vest into his mouth and took him into the Ivy basement and beat him further. The attack resulted in Hemmes backing a NSW government plan for police to monitor nightclub guards.
With publicity often spelling trouble for Hemmes, perhaps it’s no surprise he is reluctant to give interviews. He clearly squirms when asked about anything vaguely personal or controversial (The Power Index: "How do you regard the way the media reports on you and your business?" Hemmes: "does it matter?"). He later adds: "I'm not one to talk about myself, that's why this is unusual".
All of this may seem odd for a man who has made a motza teaching Sydney to party. And yet as soon as the recorder is switched off and the notepad banished to a bag, Hemmes morphs into the consummate host.
As he tours The Power Index around the Ivy and Establishment complexes, female staffers beam at him and male workers desperately seek to shake his hand. An Irish fan stops us to ask for a photo. Hemmes happily obliges. Sydney's cool set may roll their eyes at Merivale opening a new venue every five minutes, but what other bar owner gets this celebrity treatment?
It’s a slick operation. Merivale has in-house workmen who work 24/7, and Hemmes says his favourite part of his work is brainstorming ideas and executing them. That passion becomes obvious when he bounces around the construction site of new dining addition Mr Wong, which when we visit is frantically being finished so it can open in 10 days.
Hemmes names his least favourite part of his work as dealing with his obsessive-compulsive nature and staff who don’t share his perfectionism. Within a minute of walking into his prohibition era style bar Palmer &amp; Co -- he also claims he hates "themed bars" but this sepia-toned speak easy seems pretty damn kitcsh, right down to the staff in flapper outfits and the live jazz singer -- Hemmes is noting problems.
The biggest: a spotlight at the Charcuterie bar isn’t shining on the merchandise correctly. Hemmes whispers into a manager’s ear and staff move frantically.
Once Hemmes has a margarita in hand, his manner softens. He’ s quick to whip out his iPhone to show The Power Index videos of his dog and photos of his silkie chickens (two of whom are named White Russian and Black Russian, of course) that live in his tennis court turned chicken coop.
He goes on to talk about swimming with whales outside his beach house and the time he went diving with great white sharks. He also speaks fondly of his parents and shares his hopes to home school his hypothetical future children. He names Alan Jones as a close mentor, branding the broadcasting trailblazer "the most incredible man I know".
Two hours, three margaritas, one corned beef sandwich and a trip to the airport care of Hemmes' personal driver later (no bags of cocaine spotted), it was official: The Power Index had been Hemmes-ed.
 
This article originally appeared on <a href="https://www.thepowerindex.com.au/" target="_blank">The Power Index.</a>
 
For more on Sydney's present and future, download our free eBook <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-sydney-embracing-the-world-of-tomorrow" target="_blank">Sydney: Embracing the World of Tomorrow</a>
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cknowlton-QnEa6ntUYP

Bar tsar Justin Hemmes dreaming up Sydney's sexiest food and drink spots

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What a special day it was yesterday, a real contrast for me.
I attended my Uncle Phil’s funeral and saw two Aussie women win Gold at the Olympics.
My morning started by watching the awesome efforts of both Sally Pearson and Anna Meares, who won Olympic Gold medals for Australia.
I listened with a tear in my eye as Sally Pearson (100m hurdles) told the camera and everyone around the world, what she had said to herself before her race.
“I want this, it has to be mine...it can’t go any other way...”
These powerful words brought her take the gold. She had already won it in her mind.
Then I heard the story about Anna (sprint cyclist) who in 2008 fractured her neck, dislocated her shoulder and tore ligaments and tendons when she crashed her bike at 65 kilometres per hour.  She was 2mm away from needing life support to breath for the rest of her life.  Here she was today winning gold (beating the Brits, too!).
What struck me about these two women was focus and determination.
Back to my morning. Once I had the kids sorted, I headed off to Uncle Phil’s funeral in Sutherland in Sydney’s south.  I arrived to find the funeral parlour filled with lots of different people: old family friends, air force colleagues and Qantas pilots.  Uncle Phil had served his country in the RAAF then worked as a commercial pilot for many years.  The stories told at his funeral of his tough upbringing in Queensland, unwavering support for the Cronulla Sharks (that’s commitment!) and successful career and family life was touching. Uncle Phil had achieved a lot in his 90 years of life, the word they described him as was “steadfast”.
The inspiration that I received today was amazing, the theme I was seeing for the day was:
Focus, determination and steadfastness
In the morning, I was jumping up and down and full of pride as I watched our awesome Aussie women win gold medals at the Olympics.
Then, later in the day, I found myself reflecting on what has been an equally awesome achievement of my uncle, who I most remember for being pretty hard nosed and strict on us kids, but he was obviously focused, determined and steadfast in order for him to achieve what he did in his life.
My take-out of today is:
<ol>
<li>We can really achieve great things in our life, no matter our circumstances. </li>
<li>All we need to do is focus on our goals and commit to achieving them and stay steadfast. </li>
</ol>
When I started investing in property 12 years ago, my motivation was my family’s future (and still is).  I was pregnant with my first son and realised after reading a life-changing book that if we didn’t take responsibility for our future then we’d end up at the mercy of others (government pensions).
So instead of kicking back and relaxing while pregnant, I studied and sat in lecture halls while my ankles swelled.
Then I worked two jobs so that I could be in a position to borrow enough money to invest and pay my half of our home mortgage. I purchased my first investment property at seven months pregnant and sold it when my son was three months old, netting $120,000.  That was my first property investment experience, and I was hooked.
Not long after my son was born, I also started my own business. My husband worked full time.  As we raised our son and then had another, I grew my business to what is now a very successful property development project management business.
This has not been easy by any means. I’ve stayed steadfast during times when it would have been easy to give up.  I’ve been determined to change our situation and thus our future as quickly as possible.  I knew I couldn’t afford to wait until the kids are older; I needed to increase the momentum, using the time during growth spurts and starting school to invest in property.
I haven’t missed anything vitally important, but I had vitally improved our retirement prospects.
I’ve focused on my goals and 12 years later, I’m achieving great things.  Maybe not as magnificent as those women who won gold, or my Uncle Phil’s, but things I’m incredibly proud of.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.</body></html>

jochivers-wq5Bp59R5a

Focused and steadfast in property investment

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Just the six reported property sales at more than $2 million this week, according to RP Data, with <a href="https://www.propertyobserver.com.au/new-south-wales/paddington-bears-the-mantle-of-sydney-s-weekend-top-auction-seller/2012080555868">a four-bedroom $3.25 million Paddington property taking the top spot</a>.
Second place was claimed by a Hawthorn house, Warwoona, set on the top of Scotch Hill with 1,133-square-metre gardens. The house's provenance includes both 1890s and 1920s origins.
{yoogallery src=[images/stories/2012/08/aug8edward]}
In third place was a two-bedroom house in the Melbourne suburb of Kew (pictured above). The Edward Street house was the single-level house designed in the 1960s for Nobel Prize-winning virologist Sir Macfarlane "Mac" Burnet.
It was described by Jellis Craig selling agent Chloe Quinn as "beautifully modernised," but it is likely to be demolished.
Jellis Craig director Alastair Craig says the property was bought for its land, attracting keen offers from three bidders.
The 600-square-metre holding within the Sackville estate set a land value record when last sold 14 years ago. Property Observer understands it last sold in 1998 for $560,000.
The weekend price represented about $3,666 a square metre, which Craig speculates could be a new record.
Burnet was awarded the Nobel Prize for medicine in 1960 for his work concering immune response. He was a founding member of the Australian Academy of Science and was its president from 1965 to 1969.  
Three of the top 10 sales this week were in New South Wales, with Victoria accounting for four and one each in the ACT, Northern Territory and South Australia.
1. <a href="https://www.myrp.com.au/n/52-gordon-street-paddington-nsw-2021/myrp-490?propertyId=5267229">52 Gordon Street, Paddington, NSW, 2021</a>, four-bedroom house, sold at auction on August 4 by McGrath Estate Agents for $3.25 million
2. <a target="_blank" href="https://www.myrp.com.au/n/9-wellesley-road-hawthorn-vic-3122/myrp-490?propertyId=11196387">9 Wellesley Road, Hawthorn, VIC, 3122 </a>four-bedroom house sold at auction on August 4 by Marshall White for $2.51 million
3. <a href="https://www.myrp.com.au/n/13-edward-street-kew-vic-3101/myrp-490?propertyId=11351411">13 Edward Street, Kew, VIC, 3101</a>, two-bedroom house, sold at auction on August 4 by Jellis Craig for $2.2 million
4. 187 O'Sullivan Road, Bellevue Hill, NSW, 2023, four-bedroom house, sold at auction on July 31 by Di Jones Real Estate for $2.2 million
5. <a href="https://www.myrp.com.au/n/2-nicholson-street-hawthorn-east-vic-3123/myrp-490?propertyId=11200840">2 Nicholson Street, Hawthorn East, VIC, 3123</a>, three-bedroom house, sold at auction on August 4 by Kay &amp; Burton Hawthorn for $2.125 million
6. <a href="https://www.myrp.com.au/n/18-clive-road-hawthorn-east-vic-3123/myrp-490?propertyId=11198808">18 Clive Road, Hawthorn East, VIC, 3123</a>, three-bedroom house, sold at auction on August 4 by Kay &amp; Burton Hawthorn for $2.005 million
7. <a href="https://www.myrp.com.au/n/13-scarborough-street-red-hill-act-2603/myrp-490?propertyId=1136695">13 Scarborough Street, Red Hill, ACT, 2603</a>, six-bedroom house, sold at auction on August 4 by McGrath Estate Agents for $1.88 million
8. <a href="https://www.myrp.com.au/n/5-cooper-street-double-bay-nsw-2028/myrp-490?propertyId=2116903">5 Cooper Street, Double Bay, NSW, 2028</a>, three-bedroom house, sold at auction on July 31 by Bradfield Cleary Real Estate for $1.82 million
9. <a href="https://www.myrp.com.au/n/13-conigrave-street-fannie-bay-nt-0820/myrp-490?propertyId=1198802">13 Conigrave Street, Fannie Bay, NT, 820</a>, four-bedroom house, sold prior to auction on August 4 by Colliers International Darwin for $1.82 million
10. <a href="https://www.myrp.com.au/n/47-third-avenue-saint-peters-sa-5069/myrp-490?propertyId=10444537">47 Third Avenue, St Peters, SA, 5069</a>, four-bedroom house, sold at auction on August 4 by Toop &amp; Toop Norwood for $1.765 million
 
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Kew 1960s Macfarlane Burnet home set for demolition after $2.2 million weekend auction

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Nearly 11,000 square metres of A-grade commercial space at the base of the twin-tower Oracle development in Broadbeach on the Gold Coast has been listed for recievership sale, with the market estimating a sale  around $50 million.
The listing of the commercial space comes as a new report by the Property Council of Australia finds that the office vacancy rate on Broadbeach tightened noticeably over the first six month of the year from 16.8% to 11.1%,  well below the 21.5% vacancy rate for the Gold Coast office market as a whole.
This time last year, the Broadbeach vacancy rate was 30.3%.
The office and retail precinct of The Oracle comprises four detached buildings known as Oracle North, Oracle South, Oracle East and Oracle West, centrally serviced by Oracle Boulevard and bounded by Charles and Elizabeth Avenues and Surf Parade.
<img src="/images/stories/2012/08/oracle.jpg">
The commercial precinct forms the base of the troubled residential development which comprises 507 luxury apartments across two towers.
The A-grade office component, comprising 6,731 square metres of net lettable area over two levels, is fully leased with 22 separate tenancies, including leases to Gold Coast Tourism, listed housing developer Villa World and radio station operator Southern Cross Austereo.
The retail space has 4,005 square metres of net lettable area, with leases to fashion retailers Mimco and Witchery, as well as restaurant chains Max Brenner, Bavarian Bier Café, Crust Pizza, Guzman Y Gomez and Mecca Bah.
The commercial precinct is being sold by Mark Witheriff and Rem Rafter of CBRE through than expressions-of-interest campaign targeting both national and international markets, including Asia, where it will be promoted via a roadshow.
The 100% A-grade office occupancy rate at The Oracle contrasts starkly with the overall state of the Gold Coast office market, which has the highest office vacancy rate in Australia, according to the latest Property Council report for the first six months of 2012.
The Gold Coast office vacancy rate tightened marginally in the first six months of the year from 22% to 21.5%.
However, it is still more than double that of the Brisbane fringe market (8.5%) and Brisbane CBD (7.9%).
And it remains well above the next worst performing fringe market – the Sydney fringe market of Chatswood, where the vacancy rate eased from 10.7% to 13.7%
“A total of 4,292 square metres was added [on the Gold Coast] over this period, which was almost balanced out by withdrawals of 3,453 square metres and absorption of 2,723 square metres,” says Queensland executive director of the Property Council of Australia Kathy MacDermott.
“All grades, except for B-grade, experienced slight vacancy decreases over this period.”
“With only 1,723 square metres due to come online in the second half of 2012, this should provide the market with further room for absorption.”
Prospective buyers of the Oracle will take note that the Property Council report recorded vacancies tightening noticeably in Broadbeach over the six-month period from 16.8% to 11.1%, significantly lower than the 30.3% vacancy rate recorded at the same time last year.
This was in contrast to other office locations.
“The Southport and Robina-Varsity Lakes markets experienced little change, with decreases of 0.7 and 1 percentage points, respectively,” says MacDermott.
“Both Bundall and Surfers Paradise saw vacancy increases, with Bundall up by 0.8% to 32.1%, its highest level in more than 19 years.
“The Surfers Paradise vacancy rate increased by 1.6 percentage points over the six months, to reach a staggering 28.5%.”
“While certain markets across the Gold Coast remain depressed, Broadbeach is edging towards healthy vacancy levels. As work on major projects such as the Commonwealth Games and the Gold Coast Rapid Transit increases, this will help the market will begin its gradual recovery,” she says.
Witheriff calls the Oracle “one of the most vibrant mixed-use developments in Australia and a proven drawcard for quality commercial and retail tenants”.
“The strong cashflow supported by the national and international tenants with long-term leases has made this world-class precinct a proven performer even in a challenging market,” he says.
The $850 million Oracle project was developed by South Sky Investments, a subsidiary of  Niecon, part of the Nikiforides Group.
It has been in the hands of receivers KordaMentha since December 2010 after the Nikiforides family's Niecon business ran into trouble when a financier withdrew from the project.
A sales campaign to sell the remaining apartments within the two towers commenced in December last year.
Sales have picked up recently, led by interest from local buyers. Gold Coast residents have bought $20 million worth of the 505 apartments.
Peppers Retreat, Resorts and Hotels has been given letting rights to Tower 1, which has been renamed Peppers Broadbeach.
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lschlesinger-FZcF9M3vE6

Oracle commercial precinct on Broadbeach listed with $50 million hopes, with Gold Coast office vacancy rate at 21.5%

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Right now, values, pricing and results should be a little inconclusive to all. Anyone telling you she knows for sure what the market is going to do up until Christmas is a lot smarter than we are, Gunga Din.
The current mid-winter 2012 market is best characterised as being historically low in terms of exciting new stock. Another key characteristic is that it is a significantly falling market in terms of expectations for B- and C-graders (or properties that have some faults in terms of floorplan, presentation and location), and a gently falling market in terms of expectations for A-graders (or well-presented properties with sensible layouts in prime positions, the most sought-after class of the property market). See our graphical representation below:
<a href="https://marketnews.com.au/2012/08/price-catching-a-falling-star/the-worm-2012-2/" rel="attachment wp-att-26953"><img class="aligncenter size-large wp-image-26953" src="https://marketnews.com.au/wp-content/uploads/The-Worm-20121-597x326.jpg" title="The Worm 2012" width="470" height="257"></a>
In some of our pricing recommendations, we are using 2007 to 2009 comparables to support where we feel market sentiment may be for any particular home right now.
In 2008 everything was negative. In 2012, there are buyers out there, but we haven’t been seeing them because they are not interested in the poor-quality stock currently being offered in the $1 million to $2.5 million range. This winter the transacting market above the $2.5 million price point is so small that commentary, in our opinion, is supported by best guesses rather than factual evidence. Bidders in big numbers are generally only acting when a good home appears, and then they are aggressive on price in two ways:
<ul>
<li>
Up – if there is proven competition and there is a reasonable reserve (although competition is not as strong as it was in 2007 or 2010).</li>
<li>
Down – if there is no proven competition or if the reserve is courageous.</li>
</ul>
There are five key property buyer questions:
<ol><ol>
<li>
How long will this lack of quality stock continue? Buyers are wondering whether they should buy now and take second best, because they really don’t want to be looking for another year. Another sub-thought is: if stock is going to be so weak for a long time, we might as well buy a B- or C-grader now rather than wait another year and then still only have B- or C-graders to choose from.</li>
</ol></ol>
 
<ol><ol>
<li>Falling prices mean – How do I, as a buyer, catch a falling star (price)? How do buyers get an A-grader against some competition while minimising the burn marks on their hands if prices continue their re-entry from the once seemingly unstoppable surge into the stratosphere that was  inner Melbourne early 2010?</li>
</ol></ol>
 
<ol><ol>
<li>
How do I assess risk to me and my family going forward? The first decade of this millennium was all about playing market offence and looking for homes that would grow most strongly in value. Remember the words capital growth? This second decade looks to be all about playing market defence. As in, how do buyers look to best protect their family interests in a flat or falling market?</li>
</ol></ol>
 
<ol><ol>
<li>
How do I deal with bank and sworn valuations that are historic pieces of information? In many cases these values are no longer reflective of the sudden and significant change in the market. How do I deal with an official valuation in a future that may well be different from my purchase price now?</li>
</ol></ol>
 
<ol>
<li>
How do I buy a home when I am the lone ranger (the only bidder) on the property? How do I hang my hat on a value when all I can see is an agent quote that seems lacking in substance and supporting current data? How do I take comfort and keep my sanity when I can’t get surety and vindication through seeing competitive transparent auctions?</li>
</ol>
This fifth question is really a compilation of the above four. If you are informed, you can get it right and you can make good decisions and you can sleep OK going forward.
Mal Jamesis principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" 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.
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The five key questions spring property buyers must ask: Mal James 

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With the 2012 Olympic descending on London, Property Observer looks back on what happens after the athletes and crowds left town after the 2000 Sydney closing ceremony.

For the 2000 Olympic Games, Sydney built one of the biggest athlete villages ever constructed at the time.

In 1997, the Sydney Olympic Park Authority signed a $590 million contract with the Mirvac Lend Lease Village Consortium comprising of Mirvac, Lend Lease, Civil &amp; Civic, ANZ and Westpac. The village was part of $3 billion of construction and capital works for the games.

[smartcode_project:default project_id=7317]

The contract was to plan, design, finance and construct the Olympic village, which would provide housing for 15,300 competitors and team officials as well as accommodation for 7,500 competitors and officials for the Paralympic Games.

The consortium would also carry out the reinstatement work on the Olympic village after the Paralympics; market and sell the reconfigured Olympic village properties; and share the net proceeds between the consortium and government.

As well as the multiple sporting venues, other projects included the Olympic Park railway station and rail loop, development at the former Lidcombe Hospital site for 6,000 media representatives and a 318-room Ibis/Novotel hotel.

The athlete village was built in Newington, two kilometres east of the Homebush Bay sporting complex. The sporting complex is now the suburb called Sydney Olympic Park.

The consortium built nearly 900 townhouses and 700 apartments over 90 hectares, as well as nearly 300 modular homes.

Environmental sustainability was heavily pushed by the Olympic committee, and every home came with solar panels and water recycling facilities, features that still exist. When it was built, the suburb was the largest solar-powered suburb in the world.

Waste water is treated and redirected to the neighbouring wetland which was restored as part of the project.

After the Paralympic Games Newington was sold into private ownership and its transformation into a residential suburb began.

More houses were built and according to the 2011 census, there are now 2,074 dwellings housing 5,320 people. The census found 6% of the homes are currently unoccupied. There are 940 houses and 815 units in the suburb. Three- and two-bedroom homes dominate the mix.  Despite a strong push by the Olympic organisers to discourage car ownership in the area, just 3% of homes are without a car while 55% of homes have two or more cars.

According to RP Data <a href="/news">the current median house price</a> in the suburb is $770,000 up 2% over the last year and 20.7% over the last five years. Units have a median price of $487,000, down 3.6% over the year but up 19.2% over the last five years. The annual rise in median price over the last 10 years is 4.8%.

One recent sale in the area was 20 Lewis Way, a three-bedroom, three-bathroom house. The Olympic Co-Ordination Authority sold the property for $430,000 in 2001 and it most recently traded for $760,000 in May. In December 2011 the home was advertised for rent at $650 per week.

29 Evans Street (pictured below) recently sold for $732,000 from Ajay Valanju at Location Property Group. It originally traded for $503,000 in 2002.

<img src="/images/stories/2012/08/evans.jpg">

A two-bedroom, two-bathroom unit, 7/3 Heidelberg Avenue originally traded for $345,00 in 2001 sold for $513,000 in May 2012.

Unit 23 at 19 Pearce Avenue, a two-bedroom unit, recently sold for $430,00 after originally selling for $350,000 in 2001.

Mirvac’s NSW development director for master-planned communities says the suburb turned out better than they ever imagined.

“The amazing thing is that it's one of the few Olympic Games villages in the world that's been successful post-Olympics,” he told Fairfax.

''The project involved risk, but I think the quality of the build, the town planning, the parks and green space, and the mix of homes all contributed to its success.”

Local agent Chuck Ow Lee of Newington Village Real Estate told Fairfax the area is in strong demand.

''Homes here are very tightly held,'' he says. ''People are constantly surprised and impressed by the infrastructure and facilities and being surrounded by parks, and prices are cheaper than nearby.”

One home up for sale is <a href="https://www.realestateview.com.au/Real-Estate/18-beaurepaire-ave-newington/Property-Details-buy-residential-4040137" target="_blank">18 Beaurepaire Avenue</a>, which is being sold by Norman So and Andrew Zhang from Strathfield Partners for $760,000.

 

<hr class="system-pagebreak">
 

Mirvac Design worked with a number of architectural practices to produce a variety of dwelling types with work from<cite> </cite>Eeles Trelease, Vote Associates, Tanner and Associates, Gordon and Valich, Virginia Kerridge Architects, Grose Bradley Associates, Order Architects, Tonkin Zulhaika, PTW, and Hassell.

<img src="/images/stories/at213.jpg">

Meanwhile, in the neighbouring Sydney Olympic Park, within the remaining sporting hub, the newest residential development, called <a href="https://www.propertyobserver.com.au/developments/olympic-park-australia-towers-launches-stage-two-after-stage-one-sells-fast-out-of-the-starting-blocks/2012040354146" target="_blank">Australia Towers</a>, is being built by Ecove. It will bring more than 800 apartments to the area. The first tower in the three-tower development (pictured below) is currently home to more 600 residents.

<img src="/images/stories/at27.jpg">

The are is expected to experience boom growth with 1.4 million square metres of new construction planned and it is expected by 2030 some 14,000 people will live in the area. The area is currently made up of parkland, sporting facilities, offices, restuarants and retail precincts.

The success of Sydney’s Olympic athlete village comes in stark contrast to cities like Vancouver.

In 2011, a year after the winter Games, fewer than half of the 737 condos had been sold, almost of those as preconstruction sales in 2007. Vancouver’s taxpayers owed about CAN$750 million for the project, which was never intended to be a public sector development. To sell the apartments, the city then slashed prices by 30%.

Other failures include the 2004 Athens Olympic athlete village, which was the largest single property development at the time. Hundreds of thousands of Greek families entered a lottery for the chance to buy in the complex but by 2011, just half of the apartments were filled. Commercial developments in the area shut down, schools were turning away students and the buildings now have damp and sewage problems. Many Athenians saw the Games as a major contributor to Greece’s current financial woes; some estimates say the Games cost Greece €27 billion, five times the €5.5 billion budget.

Lend Lease has developed the 3,300-apartment complex for the 2012 London Olympic Games. After the games the site is due to converted into a neighbourhood with 2,818 homes, including 1,000 family homes with three or four bedrooms. The site was sold to  Qatari ruling family's property company, Qatari Diar, for £557 million.

The committee had already sold 1,379 of the homes in the 11 blocks to Triathlon Homes for £268 million in 2009. Those are due to be converted into affordable homes.
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Sydney's Newington Olympic village 12 years after the closing ceremony

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Rules are made to be broken – just ask any teenager.
But while I’m not always a “rules” kind of guy either, experience has taught me a thing or two about following the right ones.
If you dropped into the Sydney Home Buyer &amp; Property Investor Show last month – here’s a scene, below – you’ll already know that I have 10 rules for successful investment buying.
<img src="/images/stories/2012/08/sydney-home-buyer-show.jpg">
They have evolved over time – almost 30 years in the industry.  With that kind of exposure, and having helped hundreds of new residential projects come to fruition throughout the country, I’ve been able to see firsthand what works and what doesn’t when it comes to buying investment property.
My rules apply to “passive” investors – the “set and forget” types (which is the vast majority of the market – more than 90% of investors, according to recent survey results) and not to the “renovator junkies”, as I like to call them.  And before you shoot off a comment, there’s nothing wrong with getting your hands dirty, heck I have done it many times before; but if you just want to buy and forgot, then these rules apply to you.
Here are my 10 rules to help you buy well.
The property must be:
<ol>
<li>New, or at least recently renovated, to maximise depreciation/tax return and gross rental returns.</li>
<li>In a small or multi-staged development.  Preferably under 50 dwellings.  Large properties should not be ruled out.  They must, however, have substantial points of difference, i.e. well-proportioned and well-appointed apartments; quality facilities and finishes; and good access.</li>
<li>In a strong location – “infill” highly favoured, with high existing amenity; a great “walk-score”; and more importantly, potential for above average mid- to long-term capital growth.</li>
<li>In an area with five or more pillars of economic support, including cumulative demographic/rental demand and high employment/wages growth.</li>
<li>Within five minutes of “hard-core” infrastructure i.e. major work nodes; secondary schools; entertainment precincts and public transport, especially rail.</li>
<li>Delivered by a proven development team.</li>
<li>High quality in terms of design, materials and construction.  It must require minimum maintenance.</li>
<li>End prices under $600,000; better still, less than $500,000; and they must yield more than a 5% gross rental return.</li>
<li>Limited new dwelling supply when compared with underlying demand.</li>
<li>Sold with independent API registered valuation support and within an acceptable range of sales/marketing commission.</li>
</ol>
So, stick to the 10 and you’ll make millions?  Well, short answer – there are no shortcuts and no guarantees.  But by following my 10 rules I believe you can, with a little effort and knowhow, convert a modest deposit into a sizeable next egg.  But (yes, there is always one) don’t do it blind-folded – seek independent investment advice, have at least a 10% deposit, and have a truly spare $100 per week available to afford to buy that investment property.
So that was just the preamble – there’s more!  If you would like to receive our Matusik Insights report <a href="https://www.matusik-sydney.com.au/">What To Buy – 10 Rules For Better Investment Buying</a>, just register for your copy.  And folks – it’s free, just for you.
Michael Matusik is the founder of <a title="blocked::https://www.matusik.com.au/" target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a title="blocked::https://www.matusikmissive.wordpress.com /" target="_blank" href="https://www.matusikmissive.wordpress.com%20/">Michael's blog</a> or follow him on <a title="blocked::https://www.twitter.com/michaelmatusik" target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a title="blocked::https://www.linkedin.com/in/michaelmatusik" href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

The 10 rules for successful 'set-and-forget' property investment

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Australia’s construction industry contracted for the 26th consecutive month in July, with a steeper pace of decline recorded in house building, according to the latest Australian Industry Group (AIG) Australian Performance of Construction Index.
The construction industry failed to rebound despite successive rate cuts in May and June, with AIG director of public policy Peter Burn noting that ongoing slumps in commercial and housing construction were the biggest drags on activity.
The index, which is compiled in conjunction with the Housing Industry Association (HIA) and is based on surveys of a representative sample of construction firms, was 2.2 points weaker in July, recording 32.6 for the month.
All four sub-sectors remained firmly in contractionary mode in July: House building (28), commercial construction (26.1), apartment building (32.9), and engineering construction (39.5).
Construction industry employment also slumped, while the key new-orders sub-index was broadly unchanged – up slightly, but still contracting at 33.9.
Readings below 50 indicate a contraction in the industry with the distance from 50 indicative of the strength of the decline.
Click to enlarge
<a href="/images/stories/2012/08/hiaaug8.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/hiaaug8thumb.gif"></a>
One positive development was the marked slowing in the rate of decline in apartment construction activity consistent with the recent lift in multi-unit approvals.
This sub-index increased by 11.1 points to 32.9 points.
"A slower rate of contraction in apartment building in July is a positive sign, but the reality is that it still means yet another month in which activity has declined,” says HIA senior economist Andrew Harvey
“Meanwhile the core ‘detached housing’ segment of residential building contracted at a faster rate than in the previous month.
“A total of 125 basis points of cuts in official interest rates since late 2011 is yet to have a discernible impact on residential building, not helped by cautious consumers and a policy environment that sees new housing at a considerable disadvantage to established housing due to excessive taxation,” Harvey says.
Commercial construction continued to exhibit substantial weakness, while the lower interest rate environment has yet to translate into an improvement in house building activity.
New orders in the house building sector also declined falling 2.1 points to 30.3 signalling a sharper rate of contraction in the month.
Businesses surveyed attributed the ongoing decline in construction activity to subdued demand conditions, citing low levels of new orders, project delays and weak confidence among consumers and investors.
The survey also revealed intense competition for existing contracts and difficulties in obtaining credit or funding for the lack of new construction work.
“Two bright spots in July were an easing in the rate of decline in apartment construction activity and a pick-up in the engineering construction new orders sub-index.  However, with new orders and employment levels across the industry continuing to fall, the new financial year has brought little to cheer about," says Burn.
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New home building fell for 26th straight month in July: AIG/HIA index

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The Melbourne housing market is currently treading water, according to Monique Sasson Wakelin, who describes the property market as "flat as a pancake over June 2012 quarter". Wakelin reached that conclusion by averaging out divergent housing price data from different analysts.
Rather than enter into the current debate over which data provider is "right", Wakelin says “the truth probably lies somewhere in the middle”.
“We like to consider all of the data sets and then report an average of all the results for the national market. We do the same for the Melbourne market by adding in the recently published data from the Real Estate Institute of Victoria,” she says.
The average Melbourne house price data as reported by the ABS, RP Data-Rismark, Australian Property Monitors, Residex and the REIV showes an average quarterly decline of 0.12%, with prices down 5.14% over the past 12 months.
Melbourne housing market
<table width="398" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="185">
Provider
</td>
<td valign="top" nowrap width="104">
June Quarter change (%)
</td>
<td valign="top" nowrap width="109">
Annual change (%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Australian Bureau  of Statistics
</td>
<td valign="top" nowrap width="104">
-0.4
</td>
<td valign="top" nowrap width="109">
-4.8
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
RP Data-Rismark
</td>
<td valign="top" nowrap width="104">
-3.4
</td>
<td valign="top" nowrap width="109">
-6.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Australian Property  Monitors
</td>
<td valign="top" nowrap width="104">
1.6
</td>
<td valign="top" nowrap width="109">
-2.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Residex
</td>
<td valign="top" nowrap width="104">
-1.3
</td>
<td valign="top" nowrap width="109">
-6.4
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Real Estate Institute  of Victoria
</td>
<td valign="top" nowrap width="104">
2.9
</td>
<td valign="top" nowrap width="109">
-5.3
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Average of 5 providers
</td>
<td valign="top" nowrap width="104">
-0.12
</td>
<td valign="top" nowrap width="109">
-5.14
</td>
</tr>
</tbody></table>
 A similar pattern for the national data emerges of a small quarterly decline (-0.25%) and larger 12 month fall (-2.65%).
<table width="407" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="147">
Provider
</td>
<td valign="top" nowrap width="161">
June Quarter change (%)
</td>
<td valign="top" nowrap width="100">
Annual change (%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Australian Bureau  of Statistics
</td>
<td valign="top" nowrap width="161">
0.5
</td>
<td valign="top" nowrap width="100">
-2.1
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
RP Data-Rismark
</td>
<td valign="top" nowrap width="161">
-1.2
</td>
<td valign="top" nowrap width="100">
-3.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Australian Property  Monitors
</td>
<td valign="top" nowrap width="161">
0.4
</td>
<td valign="top" nowrap width="100">
-1.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Residex
</td>
<td valign="top" nowrap width="161">
-0.7
</td>
<td valign="top" nowrap width="100">
-3.3
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Average of 4 providers
</td>
<td valign="top" nowrap width="161">
-0.25
</td>
<td valign="top" nowrap width="100">
-2.65
</td>
</tr>
</tbody></table>
Writing on her blog, Wakelin says the averaged figures pass the “smell test”.
“They concur with what we see and hear around the country – that is, prices are probably down around 5-10% or so across our major capital cities over the last 12 months, but that the market has been reasonably steady in the last quarter, as participants begin to respond to lower interest rates.
“While these figures are by no means definitive or irrefutable evidence that the property market has bottomed, they should give investors and home buyers a fair degree of confidence that the worst is behind us,” Wakelin says.
In his June quarter update, REIV chief executive Enzo Raimondo made similar observations about the Melbourne property market.
Raimondo says a combination of "broader economic factors, slowing population growth and continuing low levels of consumer confidence, have resulted in no real capital growth in the residential market this year".
“Both buyers and sellers are approaching the market in a conservative manner. This is translating into a lower number of sales than is present in a strong market and as a result, no real price growth has been recorded," Raimondo says.
“The real estate market moves in cycles and, after the initial price falls in 2011, it is now in a period of stability marked by low activity.
“The median price has fallen 5.3% over the past 12 months but, as the overall median has not changed in the past six months, this indicates that the market has plateaued and is likely to remain like this until confidence improves."
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Melbourne property market 'flat as a pancake' but the worst is behind us: Monique Sasson Wakelin

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Median rents in the Queensland mining town of Gladstone have increased an average of 62% in the past two years, according to PRDnationwide.
The greatest rental increase was for four-bedroom houses, where the median rent rose 86% from $350 to $650. The smallest increase was 42% for three-bedroom houses, where the median rent rose from $285 to $490. 
<img src="/images/stories/2012/08/prdaug74.gif">
For more, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom" target="_blank">Residential Property Investment Amid Queensland's Resources Boom.</a>
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