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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Usain Bolt has defended his title as the world's fastest man, winning gold in the 100-metre sprint at the London Olympics.
But while Bolt has successfully defended his title on the track – and set an Olympic record at the same time – in the business world, his record shows a different story.
The star's Caribbean sports bar, Tracks &amp; Records, opened in 2011 in Bolt's home town of Kingston. On its website, the company says it has "already started to break the barriers of a casual eatery and sports bar &amp; lounge".
As it turns out, the <a target="_blank" href="https://www.smartcompany.com.au/wealth/051046-the-richest-people-in-sports">track superstar's</a> aggressive schedule for opening more bars overseas has proven elusive.
The<a target="_blank" href="https://www.tracksandrecords.com/nmcms.php?content=About%20Us&amp;show=1" rel="nofollow"> site </a>says the bar is built with an "almost stadium-like presence" occupying 6,000 square feet (557 square metres).
"The brand's unique décor reflects the offering's dual sports and music concept – playing on the 'tracks' run on and the 'records' broken by Usain Bolt, as well as on the 'tracks and records' which are key elements of music."
"The overall décor features are the fundamentals of brand Jamaica, with a contemporary sophistication, which takes patrons on a journey from old school Jamaican culture to the most modern audio-visual experience."
Bolt wanted to open a branch in London before the Olympics, but that plan was shut down as early as 2011. According to his London agent, Ricky Simms, the <a target="_blank" href="https://blogs.telegraph.co.uk/sport/shart/100016414/usain-bolt-loses-race-to-open-sports-bar-in-london-in-time-for-the-2012-olympics/" rel="nofollow">plan was in doubt</a> about 18 months ago.
"Things have taken a bit longer than expected so I don't think there is going to be time for that before the Olympics," said Simms.
"But it could well happen after 2012. I know Usain is looking at opening bars in London and New York."
As Bolt has risen in popularity since Beijing, his fortune has also grown to more than $US20 million a year, coming from various events, sponsorship deals and prize money. <a target="_blank" href="https://blogs.telegraph.co.uk/sport/shart/100016414/usain-bolt-loses-race-to-open-sports-bar-in-london-in-time-for-the-2012-olympics/" rel="nofollow">Forbes places him at 63rd</a> on its list of the world's highest paid athletes.
Some of his sponsorship deals include Gatorade, Virgin Media, Visa and Puma. Back in 2010, Bolt signed another deal netting him $US9 million a year – an unusual amount for a track and field star.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Usain Bolt's international restaurant chain expansion stumbles at the starting block

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The Labor government is crowing about its latest statistical achievements — low inflation, low unemployment, strong growth and booming investment.
So, why aren't Australians feeling an overwhelming sense of warmth and wellbeing? Probably, as my earlier articles have explained, it all comes down to an overall lack of confidence.
Most people are still expecting the RBA to further reduce interest rates. However, barring a European meltdown, that would seem to be rather unlikely in the foreseeable future.
You only need to study these graphs to understand the RBA's hesitancy — because clearly, the average measures of inflation currently sit at the bottom of the target band adopted by the Reserve Bank.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/langaug7.gif"><img src="/images/stories/2012/08/langaug7thumb.gif"></a>
Closer scrutiny is required
However, when you look more carefully at the composite parts, you can better understand the make up the overall CPI figure itself.
As a result of the high Australian dollar, the prices for tradable items (mostly imported) contribute -2% per annum to the total figure.
However, the prices for non-tradable items (being domestic goods and services) are currently growing at 3.6% per annum. And the problem is that these represent about 60% of the CPI's final figure.
These domestic items include essential goods and services, which people need and use on a daily basis.
Things like electricity, education, healthcare and rent — where electricity alone has risen by 10.7% over the past year.
Therefore, the low "official" measures of inflation mask the fact that everyday consumers continue to experience living costs, which are rising on a monthly basis.
And this is what is fuelling the present uncertainty within the Australian community.
However, the real irony here is that, if overseas events were to cause the Australian dollar to fall below parity (with the US dollar), this would provide a welcome boost for all our exporters — not merely the mining sector.
And in turn, this would help restore some balance to our present two-speed economy.
Bottom line: These are certainly strange times. And yes, local investors do seem to be confused by all the mixed signals.
However, this doesn't seem to be deterring private overseas buyers, who see Australian commercial property as extremely well-placed for growth over the next five years. And in particular, Melbourne — as Dr Frank Gelber (of BIS Shrapnel) confirmed last week at the REIV's Annual Forecast Luncheon.
All these investors require is a well-located property with a solid tenant on a good lease, and their decision to buy quickly follows.
 Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Local commercial property investors confused by mixed economic signals

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<img src="/images/stories/2012/08/300.gif">
The advertised net rent per square metre per annum for office premises at 214 Park Street, South Melbourne, that will be taken up by Antony Catalano’s Metro Media Publishing (MMP) business.<a href="https://www.propertyobserver.com.au/industry-news/accc-approves-fairfax-weekly-review-deal/2012052454818"> Metro Media’s 50% merger with Fairfax Media </a>was approved by the ACCC in May. MMP is the publisher of Melbourne real estate advertising glossy The Weekly Review. There was 1,210 square metres of space available for lease in the two-storey free-standing building, with the lease negotiated by Paul O'Sullivan and Richard Curtain from Lemon Baxter South Melbourne.
 
<hr>
<img src="/images/stories/2012/08/700.gif">
The estimated gross face rent per square metre per annuam that Discount Vitamin Warehouse will pay to lease 93 square metres of retail space at 321a Chapel Street in Prahran, Melbourne.  The lease was negotiated by Mike Crittenden, Colliers International Executive for retail leasing. “We are noticing a shift from tenants to secure space in the Prahran/Windsor precinct, due to the type of shopper in the area and also the competitive rentals, rather than the South Yarra end, which historically has demanded higher rentals,” Crittenden says.
 
<hr>
<img src="/images/stories/2012/08/495.gif">
The initial gross rental of per square metre per annum that Rendezvous Hotels will pay to lease 287 square metres of office space at level six at 23 O'Connell Street in the Sydney CBD. The group is part of The Straits Trading Company Limited of Singapore. The leasing transaction at the former Permanent Trustee building was completed on behalf of owner Accord Pacific Resorts Pty Ltd by Ray White Commercial Office leasing directors John Skufris and Anthony Harris. Rendezvous Hotels has taken up a five-year lease. 
 
<hr>
 
<img src="/images/stories/2012/08/380.gif">
The commencing rent per square metre per annum that an unnamed international A-grade tenant will pay in a pre-commitment deal for 4,540 square metres of office space at levels 1 and 2 at Botanicca 8, within the Botanicca Corporate Park in Richmond, Melbourne. The lease was negotiated by Rob Joyes from Colliers International. The eight-year lease was negotiated on behalf of joint venture partners Pacific Group of Companies and Icon Developments. Peter Evans, Colliers International national director of corporate solutions, acted for the tenant in the negotiations. The new building will be completed by November 2013. Botanicca 8 is part of Botanicca Corporate Park at 576 Swan Street, Richmond offering more than 8,300 square metres of A-grade office space over four levels. 
 
<hr>
 
<img src="/images/stories/2012/08/100.gif">
The estimated annual rental per square metre that Melbourne Martial Arts company XFC Training will pay to lease a new facility at Bayswater in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia. Located in the Bayswater Business Park, the Lot 31 Corporate Boulevard, facility comprises a 1,000 square metre building, which was specifically designed and built to suit the tenant’s requirements. Savills Adrian Smith, who brokered the deal, said the company had taken a five year lease with two, five year options.  The lessor was a local developer.
Negotiated a new lease? <a href="mailto:news@propertyobserver.com.au">Send an email to us</a> with the details and we will publish it our next edition of our commercial leasing ladder.
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lschlesinger-FZcF9M3vE6

Commercial leasing: Watch this space

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When we look at <a target="_blank" href="https://www.propertyobserver.com.au/trends/how-demographic-trends-shape-our-property-choices-peter-chittenden/2012080155815">the impact of family formation</a> it takes no enlightenment to understand that as families grow they have very different housing needs. This is an obvious fact but one that has far-reaching impacts for project marketing, because growing families top the list of reasons as to why most people move house. Likewise at the other end of the scale, when families shrink, the impact is visibly felt.
The needs of growing families have always fuelled the growth of Australian suburbs (as they do in every developed economy), and while more people are now living in the inner city and in apartments, the suburb is still, despite an ongoing debate about its future and cost, very much alive. Today across Australia on the outskirts of many cities there are major new areas of growth, and there are also areas where large tracts of in-fill sites are being developed.
However, almost without exception governments are either failing to deliver or are unable to afford the necessary infrastructure to support this growth, it’s a time bomb that is ticking away. The cost of new infrastructure impact almost every area of the housing market and is a major impediment to improving affordability and so directly impacts how families manage their housing needs.
There are also families who are very happy living in the city where they are big users of existing community facilities like parks, recreation facilities and schools. As children age some families do not see the inevitable need for a backyard or the need to live in the suburbs. These families are happy to trade private space for quality access to public space.
For the development community and as a key marketing challenge, finding the balance across these varied needs and aspirations provides choice and diversity of projects. The recycling of former inner-city industrial areas, which are close to established facilities, is one very big trend that is obvious in our capital cities and in many regional towns. And while these areas do not always have every facility or service, the density of development and the resulting increase in population then helps to underwrite investment in services.
Sooner or later almost all children will leave the family home, and this truth is one of the biggest drivers of demand in the housing market. While it is a gradual process, the demand created and the changes it causes for everyone involved, including mum and dad, are fundamental. The impact can be very chunky, like all those baby boomer kids leaving home in the late ’60s and into the ’70s and who now own a major part of the national housing inventory.
Young adults move into a flat, they move to a shared house or they buy their own home and they form varied relationships. Whatever step they take as kids leave home, it involves a shift in the demand for housing – both in terms of type and location. As families shrink some areas with less population have services run down, but over time we also see these same areas regain popularity and the cycle continues, and these are the very changes that create development and marketing opportunities.
This “chapter” is a big part of family formation story and also changes for many people the core dynamics of the family home, such as the amount of space needed and where people live.
Smaller families with fewer, no or older children at home have different housing needs, and now there is an emerging debate about the extent of empty rooms in family homes as areas experience housing crises and reduced affordability, and in some areas there appears to be a reluctance to sell up and move. The reasons for this reluctance are complex, but can include flat house prices plus the cost of moving including stamp duty.
Last week a study funded by National Seniors revealed that Australians give a huge $22 billion a year to their adult children. Why? Well, as it happens, to help them get established and mainly to buy property, but also to tide them over tough times.
As I look at older families the same survey also showed Australians gave another $1 billion a year to help house and support elderly parents. For the housing market the transfer of money between Australians aged 50-plus into the pockets of their children and to elderly parents suggests a more complex marketing environment. We may well have two target groups for some projects – the actual people living in the property and those (possibly older parents) paying or helping to foot the bill!
As families age and mature, this will almost always leave mum and dad at home, alone for much of the time in a home that has far too much space for just two people. The family home is now occupied by empty-nesters and so many, but not all, move on and in the move capital is freed up or the family homes acts as security to help house the next generation.
This same family home will also in many cases be sitting on a large block of land, that could either be subdivided or redeveloped – the pressures in infrastructure-starved cities are obvious.
One family moves on and another family moves in, or depending upon location and the age of the family home, it and adjoining homes become ripe for redevelopment. Development then responds to the changing demographics trends in an area, and that triggers, for example, the construction of medium-density apartments. This change at times results in intense community debate, but if we accept that family formation shifts with time and reflects wider social trends than the change might be seen as less disconcerting.
As the density of housing in an area shifts so will local services change, schools will close, or new ones open and the retail and social mix of an area responds, the housing market does not remain static and change is frequent.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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pchittenden-eLqUUC8TWW

As couples have children and children grow up, housing needs change dramatically

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When is the best time to buy an investment property? This is a question I’m asked a lot. Is it when interest rates are low? When the property market is going through a downturn period? In winter?
The simple answer is: whenever and as often as you can afford to.
During my 25 years of investing in property, many “experts” have told me that a given time was not the right period to buy. There was always some excuse. In the 1980s it was the recession and high interest rates. “The economy is in dire straits,” I was told. “Tenants won’t be able to pay your rent.” What about the fact that people could not afford to buy so they had to rent?  No one ever mentioned that.
In the mid-'80s tax legislation changed and many of the benefits associated with negative gearing were abolished. Again, people talked down the pros of property investing, saying it was pointless without the tax refund. In the early '90s, the story changed again. Low inflation meant property investing was dead (apparently). Later in the '90s we had the Asian financial crisis, then the introduction of the GST, then the global financial crisis more recently. If I had listened to all the naysayers I would never have bought any property or indeed continued to build a large portfolio of my own.
I can tell you one thing: I glad now that I did. Following each of these crises, I emerged still holding my portfolio of properties and not living in the poorhouse. How I did I survive in the face of unstable economic times? Some say it was luck, that it was a fluke to have bought all those properties when they were cheap.
In fact, my properties weren’t cheap at the time. I always negotiated well and bought smart, but I also regularly paid market rates for properties that I knew would outperform the average. And lucky? No way. It takes a great deal of commitment, not luck, to stick to a plan and buy property when no one else is.
And even today, with the market in Melbourne going through a slow period, investors still seem to be shying away from property investing when, in fact, right now is a fantastic time to buy. Why would anyone want to sell in a flat market? For most, it’s because they have to for their own personal financial reasons, not because they think they are going to make a killing. So, for investors, that can often mean lots of distressed sales so, of course, lots of bargains.
If you are in the financial position to act now, in 10 years’ time you, too, will look back and be amazed at how cheap property is right now. We can all think back to times when we thought prices were ridiculously high and remember thinking that people were paying way too much. But look at how the market has moved along. If you look at a property that sold for $500,000 in 2002, that property would most likely be worth over $1 million now. Was it expensive then? Is it expensive now? You’d be surprised at how your interpretation of “expensive” changes.
Building wealth is achieved through borrowing, buying and keeping residential property for the long term. It requires time – not timing.
Melissa Opie, aka “The Property Lady”, is  a multi-award-winning buyers’ advocate, bestselling author and managing director at <a target="_blank" href="https://www.kpi.net.au/">Keyhole Property Investments</a>.  The team at KPI act for investors and owner-occupiers Melbourne wide from $400,000 to $5,000,000. You can follow <a href="https://twitter.com/thepropertylady" target="_blank">“The Property Lady” on Twitter.</a>
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mopie-oqKqoZWZ7D

The time to buy an investment property is whenever you can afford it

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A substantial landmark retail building on High Street, Armadale, is scheduled for August 16 auction.
Located opposite the Armadale Railway Station, the building has been occupied by the art dealers Sotheby’s for the last two decades.
But the listing agents say its being offered subject to flexible lease arrangements providing flexible opportunities for investors, developers and or owner-occupiers.
It's tipped to fetch more than $5 million through Chris Kombi and David Bourke at Fitzroys.
Sotheby’s current lease dates from October 2008 and is three years at $300,760 per annum plus outgoings.
The lease was varied by agreement between the landlord and tenant to extend for a further 12-month period to September 2012.
Its current total rental of $352,760 per annum plus outgoings includes Zetta Florence at around $52,000 per annum plus outgoings.
The site area of 1,221 square metres has dual frontages to High Street and Morey Street.
It's a substantial two-storey building of 1,400 square metres with rear car parking.
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jchancellor-FAypfDUnLy

Sotheby's building on High Street, Armadale, for auction

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Mirvac's proposed 37-storey Sydney commercial building now faces its final approval processes after its public exhibition closed yesterday. 
Mirvac anticipates permission soon to demolish the existing George Street office block as its seeks construction to begin by December. 
Mirvac Group is reportedly set to include the new tower in a mooted $1.3 billion unlisted office trust, which will offer a 50% stake in four assets in a bid to attract more equity into its funds management business from international investors, according to a recent report by the Australian Financial Review.
The George Street project has been designed by Johnathan Redman of Francis-Jones Morehen Thorp, which won a design competition for the scheme.
The $250 million FJMT-designed development (architectural impressions below) will provide 43,270 square metres of floorspace including ground-level retail.
It emerged after six selected architects – Architectus; Bates Smart; Collins and Turner; Fitzpatrick + Partners; FJMT; and Woods Bagot – were invited in September 2011 to partipate in a competition for its architectural design to meet the target construction cost budget of $215 million.
<img src="/images/stories/2012/08/mirvac1.jpg">
It was concluded by the judging panel that its achieves warmth in materiality and character in the podium and tower forms that will result in definitive and elegant architecture.
"The building’s podium is one of its key strengths and recognises the site’s mid-block character by providing a respectful and strong street wall.
"The curved tapering end to the street wall also provides a strong reinforcement at the human scale of the ‘kink’ in George Street at this juncture (opposite Essex Street) and also purports to draw pedestrians along the site and through into the future public square," the judges concluded.
It comes with a through-site pedestrian link between George and Underwood streets, an enhanced Crane Place, along with the allowance for the future connection of a laneway between Dalley Street and Herald Square.
<img src="/images/stories/2012/08/mirvac2.jpg">
The site has frontages to George Street, Dalley Street, Underwood Street and Crane Lane.
The SMH commercial property editor Carolyn Cummins initially reported last year that Westpac might take the space, but more recently she's noted its likely leasing by Ernst &amp; Young.
 
<hr class="system-pagebreak">
 
The site, near Circular Quay opposite the Four Seasons Hotel, has been consolidated by Mirvac over the past decade since paying $17.5 million for the initial Dalley Street holding. The 188 George Street office block cost $43 million in 2003 when bought from AMP Life and the 190 George Street premises cost $24 million in 2003.
The 190 George Street office premises were associated with the Equitilink team, led by Brian Sherman and Laurence Freedman, who took up space in 1995.
<img src="/images/stories/2012/08/mirvac3.jpg">
Mirvac's application says the proposed development will contribute towards strengthening Sydney’s role as a globally competitive city by supporting business activities and ensuring adequate capacity for new and upgraded office accommodation in the CBD.
Upon completion, the final project will replace existing buildings with poor ESD performance with a new building that will achieve a five-star green star rating and five-star NABERS energy rating.
<img src="/images/stories/2012/08/mirvac5.jpg">
It will enhance the physical appearance of the site by providing a new building that achieves design excellence, "in place of outdated 1970s/1980s buildings".
It enhances the building’s relationship with the ground plane and surrounding public domain fostering the vitality of Sydney's historic network of laneways.
Click to enlarge
<a href="/images/stories/2012/08/mirvac4.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/mirvac4thumb.gif"></a>
Set some 200 metres south of Circular Quay, the site has an area of 3,147 square metres and contains a former Telstra exchange building.
The design follow a September 2008 council-commissioned NSW government Architect’s Office urban design study for the entire block bounded by Alfred, Pitt, Dalley and George streets (referred to as the APDG block/site).
It notes the proposal incorporates commercial and retail uses and therefore assisted with restricting residential development to the northern end of the APDG site.
The proposal provides for the development of one of the three high-rise towers earmarked for the APDG site, however the proposed tower footprint does exceed the 42% building envelope control in order to achieve a typical floor plate net lettable area (NLA) greater than 1,200 square metre.
Its notes providing a minimum 1,200-square-metre NLA floor plate is required to meet the "premium-grade office building" classification in accordance with the PCA design specification for new buildings (2006).
Mirvac's consultant, JBA Design, maintains development proposed contributes towards reinforcing Sydney as the best place to work through establishing a new commercial office address that offers a dynamic and flexible work environment.
The developers suggest public transport patronage will be maximised through locating infill commercial development at appropriate density within walking distance of extensive public transport connections.
“Walking and cycling will be encouraged as a result of the proposed development through provision of a significant numbers of bicycle parking spaces (workers and visitors) and provision of end of trip facilities for workers,” the application says.
Mirvac was granted approval for a stage 1 development application by the City of Sydney Council for the 190-200 George Street and 4 Dalley Street site in November 2008.
For more on Sydney's present and future, download our free eBook <a href="http://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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Mirvac's 37-storey, $250 million Sydney office block proposal awaits final approval

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As it does around this time of year, the ATO recently released its 2012-13 Compliance Program outlining those it intends to target in the coming year. Small and medium-sized enterprises (SMEs) figure prominently.

While much has already been written about the program, it is worth exploring a little more deeply what the ATO will be looking at. It's something of a roadmap for SMEs in the tax compliance cut and thrust.
There are around three million so-called micro enterprises i.e. businesses with an annual turnover of under $2 million or superannuation funds with less than $2 million in assets. They represent a significant part of the taxpaying population, employing 1 in 5 Australian workers.
Over the coming year, the ATO says it will focus particularly on the following compliance risks:
<ul>
<li>unrecorded and unreported cash transactions;</li>
<li>employer obligations eg. super;</li>
<li>GST refund integrity and GST evasion;</li>
<li>ensuring businesses are correctly registered in the tax system;</li>
<li>supporting businesses in meeting their lodgment obligations; and</li>
<li>incorrect fuel tax credit claims following implementation of the clean energy measure.</li>
</ul>
The ATO said profiling is used to identify potential tax risks such as businesses operating outside industry or economic benchmarks.
Information matching forms a key part of the ATO's arsenal. It matches information in tax returns and business activity statements (BASs) with details of transactions reported to it by a wide range of third parties, including:
<ul>
<li>payments and grants by other government agencies;</li>
<li>payments by businesses to contractors especially the new building and construction industry reporting system;</li>
<li>income from investments and partnership and trust distributions;</li>
<li>property and share transactions;</li>
<li>cross-border transactions and international funds transfer.</li>
</ul>
<h3>Unrecorded and unreported cash transactions</h3>
The ATO said the plastering and cafe sectors have been selected for more intensive activity for 2012-13. In relation to the plastering sector, the use of cash along with historical weaknesses in tax compliance and high number of information referrals from the public has prompted the increase in ATO activity.
The ATO said it will review both business-to-business and business-to-consumer transactions, comparing information from hardware store accounts against their customers' purchasing records to detect cases where businesses are skimming cash or are outside the system.
In relation to cafes, the ATO said it is expanding its compliance program of comparing information from coffee-supplier trade accounts against their customers' purchasing records to detect cases where cafe businesses are skimming cash or are outside the system.
<h3>Employee vs contractor</h3>
The ATO will continue the compliance program on contractor arrangements. Trying to present an employment relationship as a contract between two businesses by, for example, forcing the worker to supply invoices and quote an ABN, does not in the ATO's view override an underlying relationship of employment. The ATO is concerned this threatens the welfare and entitlements of workers and creates unfair competition for honest employers.
The statistics paint their own picture on this issue. In 2011-12, the ATO conducted approximately 1,100 audits on businesses where it suspected that the business may have incorrectly treated employees as contractors. From the resultant audits, the ATO collected details of approximately 51,000 payments made to around 41,000 contractors, about 18,000 of which were individuals. It found that 48% of businesses that engaged contractors were wrongly treating individuals as contractors.
This is an ongoing major issue for the ATO, and SMEs should also be aware that Fair Work Australia also looks closely at this issue of employee vs contractor.
<h3>Small business benchmarks</h3>
The ATO has developed benchmarks for over 900,000 small businesses in over 100 industries. According to the ATO, approximately 90% of businesses in benchmarked industries fall within a benchmark range.
The benchmarks can be a two-way street. While they are a valuable tool for the ATO to check tax compliance, they can be useful for SMEs too. For example, where a business is reporting significantly more net income than its industry peers, this can alert the business to consider if it has forgotten to claim all of its business tax deductions. It isn't always that simple, but the potential exists for these benchmarks to actually help some SMEs.
On the flip side, where a business is reporting significantly less income than the benchmark range for its industry, the ATO may ask a few questions. However, if the business had good evidence to explain all its income and expenses, the ATO says it will not be subject to tax adjustments.
<h3>Employer obligations</h3>
For the 2012-13 year, the ATO expects to:
<ul>
<li>review the tax affairs of more than 20,000 businesses across all markets to ensure they are reporting the correct amounts of PAYG withholding;</li>
<li>conduct a range of education and assistance activities regarding reporting of payments to contractors in the building and construction industry;</li>
<li>use third-party data to income match taxable government grants and payments with reported amounts in tax returns;</li>
<li>conduct an outbound phone campaign and 500 enterprise reviews with the aim of ensuring that businesses register for PAYG withholding when they take on staff for the first time and register for GST when their turnover exceeds the $75,000 threshold.</li>
</ul>
<h3>GST refund integrity and GST evasion</h3>
With the recent passage of new laws that give the Commissioner a discretion to retain high risk refunds, the ATO may stop a small percentage of BASs for verification where anomalies, discrepancies, unusual behaviour, or change in patterns occurs. It said to minimise the number of businesses having refunds delayed, it may also check some refunds after they have been paid.
In addition, the ATO said it will review 35,000 GST registration applications to ensure that new registrants are legitimate. It will review around 500 serious cases of fraud involving identity theft and groups of entities established with no intention of undertaking an enterprise.
The ATO will monitor and investigate taxpayers who dispose of real property and fail to report the transaction on their BASs or misclassify the transaction for GST purposes.
The ATO said it has recently identified cases of fraud involving groups of entities established with no intention of undertaking an enterprise. Stolen identities were used to falsely register ABNs and make fraudulent refund claims on 1,670 activity statements totalling more than $17.5 million. An additional 600 entities associated with this fraud were detected before lodgement and subjected to enhanced registration check processes preventing additional claims being lodged. The ATO expects to review around 500 of these more serious cases in 2012-13.
<h3>Fuel tax credit claims</h3>
While this does not affect all SMEs, the ATO said incorrect or ineligible fuel tax credit claims continue to be made as a result of taxpayers misunderstanding their entitlements or poor record keeping.
In 2012-13, it will continue to provide claimants with information and assistance. However, in cases of serious breaches, it said it will consider cancellation of registration, prosecution and debt recovery.
Terry Hayes is the editor-in-chief of tax news reporting at <a rel="nofollow" href="https://www.thomsonreuters.com.au/">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article first appeared on <a href="https://www.SmartCompany.com.au">SmartCompany</a>. 
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thayes-XhNcNKLNWa

Small businesses under ATO compliance microscope: Terry Hayes

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Lower interest rates and lower prices have improved housing affordability.  CommSec reports that rate cuts have helped to lift consumer sentiment about buying a dwelling, according to the Westpac Melbourne Institute Index of Consumer Sentiment, with improvement last month in the “time to buy a dwelling” index as well as the “time to buy a car” index.
However, concerns about the economic outlook and job security remain at the forefront; and overall sentiment sits at 1.7% below the level recorded in October last year, despite a 125-basis-point reduction in the cash rate that has brought the average standard variable mortgage rates down by nearly one percentage point.
But an interesting perspective comes this week from Crikey –  while we appear to be plagued by low levels of confidence (and could well do without the incessant negativity of federal politics), Aussies are buying new cars in near record numbers, travelling overseas – also in near-record numbers – and buying over the internet, both at home and abroad, in growing quantities.
And somehow, while managing to consume at fairly high levels, we are saving at rates of 9-10% a year.
There are many factors at play here, and clearly we need more solid ground to stand on; but could it be that we just don’t know how well off we are?
There is also good news on the housing front, with rising home prices and a pick-up in new home sales.
The back-to-back lift in house prices is encouraging.  Across Australia house prices have risen by 1.6% over the past two months, according to RP Data, and while that may not sound all that exciting, it is the biggest two-monthly increase in property prices in over two years and a welcome turn from a period of sustained weakness.
The ABS house price data, out this week too, finds a similar trend, with established house prices up 0.5% over the last three months, against an annual decline of 2.1% nationally.
These results highlight the underlying strength in residential property and that the market appears to have bottomed out.
In addition, housing activity has shown signs of improving, with new home sales rising for the third consecutive month.  It must be stressed that these gains come after new home sales reached a decade low earlier this year.  So they are off a low base.
It is clear that the sector is crawling off of the floor (basement, really), however the fundamentals for housing remain solid and while the sector is likely to remain in a period of consolidation in the near term, there may be light at the end of the tunnel.
Importantly, not only has there been a modest pick-up in sales/price activity across the sector, but rental vacancy rates remain strong, rents continue to rise and many investment properties are starting to show gross rental yields well into the 5% range. 
While builders are likely to continue to compete hard for available work, home owners are likely to see the value of their homes rise over the year.
Many forecasters are now tipping prices to rise over the remainder of calendar 2012.  We think – assuming one last drop of 0.25 percentage points in the cash rate later this year – that a rise of 2% or 3% in the price of generic housing across Australia over the next five months isn’t out of the question.
What to buy when buying property
Rules – I’ve got 10 of them when it comes to successful investment buying.  Here’s just a sample:
Rule 1: Select new or at least recently renovated property to maximise depreciation/tax return and gross rental returns.
Rule 2: Choose a small or multi-staged development – preferably under 50 dwellings; large properties should not be ruled out, but should have substantial points of difference.
Rule 3: Buy 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.
Next Wednesday’s Missive will elaborate – so pencil in the read.
But if you can’t wait and you’d like to register for a free copy of my presentation, <a target="_blank" href="https://www.matusik-sydney.com.au/">What to buy – 10 rules for better investment buying, just click here.</a>
Michael Matusik is the founder of <a href="https://www.matusik.com.au/" target="_blank" title="blocked::https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a href="https://www.matusikmissive.wordpress.com%20/" target="_blank" title="blocked::https://www.matusikmissive.wordpress.com /">Michael's blog</a> or follow him on <a href="https://www.twitter.com/michaelmatusik" target="_blank" title="blocked::https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik" title="blocked::https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>. 
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michaelmatusik-49YzLvdmNv

Consumer sentiment up and home prices rising

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One of Adelaide’s oldest family companies, J &amp; AG Johnston, is selling 25 South Australian properties, including 17 hotels, a shopping centre and smaller residences and shops.
Established in 1843, the company produced ales and cordials and established the hotels as a distribution network. The company has retained ownership of the hotels to this day but the board recently decided to move out of the hotel business.
“The investment properties have served the company’s stakeholders well, but following a major strategic review our shareholders decided it is time to offer these properties for sale to enable their funds to be invested in other ventures,” says chairman Mark O’Leary.
The Jones Lang LaSalle memorandum says the portfolio “provides the smaller investor an attractive opportunity to secure well-leased investments in the desirable Adelaide Hills, Lower Murray and Fleurieu regions”.
Jones Lang LaSalle agent Jamie Guerra says the company will be focusing on its winery and golf course businesses.
The company owns 50 hectares of vineyards and other land holdings around Oakbank as well as the nine-hole Oakbank Golf Course, founded in 1892.
<img src="/images/stories/2012/08/charleston.jpg">
All the hotels are at least 100 years old. The oldest hotel in the group is the 1851-built Woodside Inn (pictured below), built by James and elder brother William Johnston in the year the town was established.
<img src="/images/stories/2012/08/woodside.jpg">
They include the Balhannah Hotel and Chinese Restaurant in Balhannah, Bridge Hotel in Langhorne Creek, Charleston Hotel in Charleston (pictured above), District Hotel in Nairne, Millers Arms Hotel in Nairne, German Arms Hotel in Hahndorf, Gumeracha Hotel in Gumeracha, Mannum Hotel in Mannum, Meadows Hotel in Meadows, Pier Hotel in Milang, Pretoria Hotel in Mannum, Rising Sun Hotel in Lobethal, Stanley Bridge Tavern in Verdun, Swan Reach Hotel in Swan Reach (pictured below), Totness Inn in Mount Pleasant, Woodside Hotel in Woodside, and Callington Hotel in Callington (pictured below).
<img src="/images/stories/2012/08/callington.jpg">
Johnston’s aim with his brewing company was to supply as many of the hotels around the brewery as could be reached by bullock or horse-drawn wagons.
<img src="/images/stories/2012/08/swanbeach.jpg">
Together the hotel investments earn a total rent of $2.1 million per annum.
The Balhannah Junction Shopping Centre, anchored by Foodland supermarket, earns $221,800 per annum.
The properties are available individually or in one line.
The properties are being marketed through JLL’s Jamie Guerra and Roger Klem and Steele Hotel Brokers’ Darren Steele.
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