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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More Australians are now opting to live alone, pushing up demand for one-bedroom and studio apartments.
Census 2011 data shows there are now 1,888 million lone-person households, 148,000 more than there were in the 2006 census.
The census data also shows there are also 50,000 more one-bedroom apartments than there were in 2006, with numbers rising from 317,000 to 363,000.
Proportionally, one-bedroom apartments account for 4.7% of all property types, compared with 4.4% in 2006.
According to the  government’s State of Australian Cities 2011 report, demand for studio apartments and one-bedroom units looks set to increase as the proportion of people living alone continues to rise.
The proportion of lone households is forecast to grow from 24% to 28% by 2031, according to ABS estimates.
<img src="/images/stories/loners.gif">
Source: ABS
By 2031 there will be more than 3.2 million lone households in Australia, an increase of 1.4 million from the 1.9 million lone households measured in the 2006 census. 
The increase in the number of lone-person households will be highest in the largest capitals, Sydney and Melbourne, but the rate of growth will be equally as high in Perth and Brisbane. 
<a href="https://www.propertyobserver.com.au/new-south-wales/sydney-cbd-s-10-cheapest-studio-apartments-starting-from-%24255000/2012073155743" target="_blank">Property Observer has found the 10 cheapest studio apartments for sale in Sydney CBD, starting from $225,000.</a>
According to the 2006 census, the gender ratio (number of men to 100 women) in lone-person households was 79.4. 
The gender gap is expected to widen further to 77.4 in 2030 due to life expectancy being higher for women than men.
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lschlesinger-FZcF9M3vE6

Demand for studio and one-bedroom units to increase as Australians go it alone

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First-home buyers in NSW thinking of buying a new home will be eagerly awaiting October 1, when up to $35,240 will be available to them in the form of government handouts.
In Victoria, first-home buyers will get an extra 10% cut from their stamp duty bill from the start of 2013.
However, first-home buyers in the Northern Territory only have until October 1 to receive up to $17,000 in territory government handouts.
Here are the key dates and details you need to know:
 
October 1 
NSW
$15,000 available under First-Home Owner Grant (New Home) scheme 
The <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/">new first-home owner grant scheme kicks</a> in offering $15,000 to first-home owners who purchase or build a new home valued at up to $650,000 up until December 31, 2013, reducing to $10,000 from January 1, 2014.
First-home buyers have the potential to earn up to $35,240 when combined with the existing <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/first_home_new_home/">First Home—New Home</a> scheme, which provides exemptions on transfer duty on new homes valued up to $550,000 (a maximum exemption of $20,240) and concessions on transfer duty for new homes valued between $550,000 and $650,000.
From October 1, first-home owners buying an existing property will not receive any financial assistance from the state government.
For non-first-home buyers, a grant of $5,000 is currently available for new homes purchases, whether off the plan or newly built under the <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/grant_scheme/">NSW New Home Grant Scheme</a>. It applies for homes up to a value of $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
October 1 
Tasmania
Changes to stamp duty rates and thresholds
From this date <a href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers">r</a><a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers">evised stamp duty rates and thresholds kick in</a>. The top marginal tax threshold rate on stamp duty will be increased from 4% to 4.5%, kicking in at $725,000, up from the current $225,000. The current top marginal tax rate is $6 550 plus $4 for every $100, or part, by which the dutiable value exceeds $225 000. The new top marginal tax rate is $27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725 000. The lowest band, where only $20 is payable remains at $1,300 but all the other bands have been widened while the duty payable rates for these bands have also changed. Middle-class Tasmanians will be hardest hit, with duty on a property valued at $375,000 almost doubling from $7,150 to $12,935.
The current and new rates can be<a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers"> found here</a>.
The Tasmanian government also <a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/Property%20Transfer%20Duty%20Calculator?OpenDocument&amp;menuitem=Property%20Transfer%20Duties">provides a calculator </a>to work out how much stamp duty is payable before and after October 1.
December 31
Northern Territory
Cut-off date for $10,000 BuildBonus
This is the last day for Northern Territorians to take advantage of already twice-extended <a href="https://www.nt.gov.au/ntt/revenue/home_assist/buildbonus.shtml">$10,000 BuildBonus</a>.  The scheme provides a $10,000 grant to home buyers and investors, including companies and trustees, that sign a contract to purchase or build a new home (including signing a contract for a house-and-land package), purchase a new unit (including off the plan) or commence construction of a new home as an owner builder, between May 3, 2011 and December 31, 2012 inclusive.
The BuildBonus is not means tested but the value of a new unit or new home or the total construction cost of a new home (including the value of the land on which it is built) is capped at $600 000. The BuildBonus is available to first-home buyers, in addition to the first-home owners' grant. This means that eligible first-home buyers will receive grants of up to $17 000. In addition, buyers purchasing a new unit or land to build a new house may also be <a href="https://www.nt.gov.au/ntt/revenue/calculators.shtml" target="_blank">eligible for stamp duty home incentive schemes</a> of up to $26,730 (the duty owned on the first $540,000 value of a property) and no land tax.
January 1, 2013
Victoria
Increased stamp duty discount for first-home buyers
From the start of the new year, Victorian first-home buyers who qualify for the $7,000 first-home owner grant (FHOG) will <a href="https://www.sro.vic.gov.au/SRO/sronav.nsf/childdocs/-434C7502A60F23E4CA2575A100442158-E11C62FEDA1CD76ACA2575D60028321F-BE036AC37C8DE365CA2579F4001C7B64?open">also be eligible for a 30% reduction in their stamp duty</a> bill with the stamp duty reduction increasing from 20% to 30% for home valued up to $600,000. This is the first part of a phased increase to stamp duty discounts, which will rise to 50% with two further 10% discount increases on January 1, 2014 and September 1, 2014.  The raising of the stamp duty discounts follows the ending of the $13,000 first home bonus on June 30. For details of the stamp duty savings for first-home buyers, <a href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7">click here</a>.
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State by state government housing handouts: The new dates you need to know

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There’s a new wave of financial services migrating beyond the computer and onto phones and tablets, as well as moving into social media such as Facebook.
But as these services migrate onto a device that fits in the pocket, people still need something more.
In my current business, Yellow Brick Road, we’re opening branches at a rate of one per week nationally, simply because people still want face-to-face discussions about their affairs.
The key, in my opinion, lies in the difference between the financial services you can turn into a “product”, and those you cannot.
People are happy to use financial products, but they really want advice.
The Nielsen Pacific Global Survey of Investment Attitudes was released a few weeks ago: 70% of Australians used the internet for banking and investment transactions in the previous three months. But the same survey also found that 54% of Australians had visited a physical bank branch in the previous three months.
This shows a nation that is using products but still need to be able to talk about more complex matters such as mortgages, life insurance and super.
It’s a quaint picture of a technology-driven country with a traditional heart. But the problems are in fact, far from quaint. An example of this could include our superannuation system, which puts the onus for retirement investment on the individual.
The first port of call for most people with super is not an advisor, but a product. The super fund member is mailed a brochure with describes the various products and the member ticks the boxes and sends it back.
The Nielsen survey showed just 16% of Australians currently rely on a financial planner or adviser, while 57% preferred to be in charge of their investment decisions.
Now consider the fact that 70% of investment-focused Australians currently maintain a shareholding of stocks, the worst performing assets.
I believe there are many forces that have pushed Australians away from being advised on their investments and their retirements.
Most banks don’t offer advice unless the customer is a wealthy “private client”; stockbrokers don’t give you the full service unless you have a certain amount to invest; and the superannuation funds have become the product.
That leaves the independent advisers and planners, who many Australians avoid because there is either a trust problem or the costs are perceived to be too great.
More should be done by the superannuation industry, the ASX, the government and regulators to encourage people to seek advice around complex and crucial financial arrangements.
However, people have to show some initiative in these matters and decide what’s really important. Most people who seek expert advice get something out of it: an insurance broker reducing your premiums; an adviser finding a lower fee super fund; a mortgage broker finding you a better loan or an accountant getting you a better tax result.
Aussies need to rethink how they balance financial products with advice. A product fills a need; advice is planning for life.
<div>
<div>Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/" rel="nofollow">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.</div>
<div>
For more, <a target="_blank" href="/news">view our free webinar Refinancing and the Interest Rates Riddle.</a>
</div>
</div>
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mbouris-tauSvXGAM2

Australians need to embrace wise financial planning

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<img alt="55lavander_0000_55lavander.jpg" height="300" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/55lavander_0000_55lavander.jpg.jpg" width="400">

Actor Nicole Kidman has not just enlarged her Milsons Point 21st-floor penthouse space in her recent acquisitive property purchasing.

A search of the Latitude building apartment records indicates she has also spent $2.68 million on a 19th floor apartment which is utilised in part as a home office.

The previously unrevealed 2011 home office purchase was through a holding company not previously associated with the international celebrity.

[smartcode_project:default project_id=32227]

Last week the actor settled on the purchase of her adjoining <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/nicole-kidman-expands-her-milsons-point-penthouse/2012073055775">Milsons Point penthouse</a> space at a reputed $7 million outlay on the 21st floor. It improved her Sydney Harbour Bridge views being at the southern end of the block. Kidman's earlier purchase was in 2009 at around $6 million.The initial 21st-floor penthouse acquisition was bought from the Wizard founder Mark Bouris, whose family company bought it off-the-plan in 2005 for $4.75 million.

She's altogether spent about $15.6 million high above Lavender Bay.

Nicole lovers her water views as she's on the Hudson in New York. Her initial condominium investment is on the 12th floor of the West Village's renowned Richard Meier-designed twin Perry Street towers (below left) complex. The 350 square metre fishbowl cost about $US8 million when bought off-the-plan in 2003 in the name of her trustee, sister Antonia. It was reported Kidman had unsuccessfully begged the developers to install a secret passage between the apartment and the garage.

<img alt="nicole-kidman_420" height="300" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/nicole-kidman_420.jpg" width="400">

Just two kilometres along West Side Highway from West Village, Kidman subsequently spent $US9.67 million in Chelsea, the heart of Manhattan's art district.

Her two-level, 220 square metre fourth-floor digs (above right) are diagonally across the road from the Gagosian Gallery, and its enormous southern walls are an art collector's dream. The development was marketed as the first high-rise with own-floor garages, which are accessible via a car lift.

Blainey North, the Sydney interior decorator of the moment, has scored the dream decorating design job of the combined 798 square metre penthouse. She’s billionaire James Packer's preferred decorator.

North was first spotted by the mainstream press when shortlisted in the 2005 The Interior Design Awards, but has since barely rated a mention in the Sydney newspaper columns other than when she married Russell Crowe’s personal assistant, Keith Rodger in mid-2011.

North is known to be a fan of art deco with a restrained colour palette, and the use of wood panelling and chrome accents.

Indeed her first home – sold in 2010 to model Lara Bingle at $882,000 – was in an art deco Darling Point apartment complex.

It was a renovated, one-bedroom unit with city and harbour views from most of its 65 square metre space, which North had secured for $700,000.

It featured elegant American oak parquetry flooring.

Her bespoke projects have included the 54 Park Street spa where Nicole Kidman is known to work out.
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jchancellor-FAypfDUnLy

Actor Nicole Kidman secures third apartment in Milsons Point Latitude high-rise complex: Title Tattle

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An almost 5% drop in residential properties listed for sale online over July, led by big monthly falls in Melbourne and Sydney, may indicate the housing market is close to entering "recovery mode", according to SQM Research.
SQM Research calculated that online residential listings fell by 4.9% in July led by falls in Melbourne (12.6%) and Sydney (8.7%) to reduce to total listings to 368,081.
This means listings are now down 2.4% when compared to 12 months ago when SQM Research recorded 377,213 residential listings as of  July 2011.
<img src="/images/stories/2012/sqm_research.jpg" width="598" height="183" alt="sqm_research">
SQM Research says that seasonally it is expected that stock will decrease during the winter periods.
However, “a decrease of this magnitude could be seen as the first signal that stock is being absorbed quicker than previous months".
“Indeed, if stock continues to decrease in the months ahead, this could be a potential indicator that the housing market is entering into recovery mode,” says SQM Research.
SQM Research director Louis Christopher added that while it is early days, the July decrease in listings "could be an indicator of a turning point in the market".
“We also note that nationally, there is now less stock on market than this time last year. Brisbane, Darwin, Perth and Sydney all have less listings in the market compared with July last year,” he says.
Apart from the weak Hobart market, where residential listings increased by 0.2% over July (Hobart is also the weakest market over the past 12 months with listings up 29%) all other capital cities recorded declines in online listings over the month.
Melbourne experienced the biggest monthly decline with online listings falling from 55,293 to 48,322 over July – but listings are still 4.8% above the 46,087 recorded in July last year.
Sydney listings fell from 32,390 to 29,574 over July to be down a healthy 10.2% on the 32,917 properties listed for sale a year ago.
There were also strong monthly declines in Canberra (-7.3%) with more modest declines in Darwin (-4%), Perth (-3.5%) and Adelaide (-3%).
Darwin has experienced the biggest yearly decrease with online listings down 28.6% decline followed by Perth (-15.5%) and Brisbane (-11.8%)
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Melbourne and Sydney lead 4.9% monthly drop in online residential listings suggesting market may be entering "recovery mode": SQM Research 

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Following <a href="https://www.propertyobserver.com.au/trends/twitter-debate-fires-up-and-old-rivalries-renewed-over-whether-australian-housing-market-has-bottomed-out/2012080155814">yesterday’s Twitter debate on ABS house prices</a>, the university of Western Sydney’s Steve Keen has remained true to his word and posted commentary on whether the Australian housing market has reached its bottom.
Before this quarter’s ABS data came out, Keen noted Australia’s rate of price decline from its peak lay between the US and Japanese experiences; now it is smack in line with the slow bleed of Japanese prices, but nowhere near the decline experienced in the US.
Keen wrote today, just a few hours before heading into hospital for a knee operation, that he expects Australian house prices will fall further.
But he appears to have tempered his views on the extent of a housing price bubble in Australia, albeit with an ironic shot at his bullish opponents.
“So does this increase mean that the trend of falling prices is now over, and house price growth will resume? No, no more than did the slight increase in real prices back in December 2010 (which we are now only aware of courtesy of a revision of ABS data). What it means is that the trend for decelerating mortgage debt has temporarily reversed.”
Keen highlights the differences between Australian and the US:
“So the bottom line is that Australian house prices are falling more slowly than America’s because Australian consumers are deleveraging much more slowly than their US counterparts.”
He says there are several obvious factors that could explain why:
“Australian mortgages are mainly floating rate, so rate cuts by the RBA very rapidly reduce the debt servicing burden. In the US on the other hand, mortgages are fixed rate.
Government efforts to keep the property Aspidistra flying – ranging from the hardy perennials of the Federal First Home Vendor Grant, Negative Gearing, setting Capital Gains Tax at half the Income Tax rate and exempting the family home, to State-based sales tax exemptions and First Home Vendor Schemes – have succeeded to some degree in enticing new entrants; 
and (irony alert).
There is no Australian house price bubble.”
Keen suggests Australians will most likely have to continue putting up with very high debt servicing costs relative to the rest of the world.
<a href="https://www.debtdeflation.com/blogs/2012/08/02/australian-house-prices-update-june-2012/">Click here for Keen’s full analysis.</a>
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House prices to fall further but even Steve Keen ponders the extent of any Australian property bubble

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Barangaroo South developer Lend Lease will work with casino operator Crown Limited to develop a concept plan for an international hotel at its $6 billion Sydney harbour urban regeneration project.
Lend Lease announced that it had signed an “exclusive dealing agreement with Crown Limited to develop a “world class international hotel resort”.
The agreement with Crown follows Lend Lease announcing last month that it had r<a href="https://www.propertyobserver.com.au/developments/barangaroo-south-construction-set-to-begin-as-lend-lease-raises-%242-billion/2012070955478">eceived commitments totalling $2 billion from cornerstone investors for the first of two commercial towers</a> at Barangaroo South as well as securing Westpac and KPMG as tenants in these towers.
Lend Lease Group CEO and managing director, Steve McCann says Lend Lease and Crown will now work towards achieving the necessary development approvals from the NSW Government for the hotel and jointly develop the concept plan for the hotel.
Lend Lease is currently in negotiations with the NSW Government to finalise the hotel location.
“Barangaroo South is a major urban regeneration project that provides a unique opportunity to create a world class commercial, residential, entertainment and mixed use destination on Sydney Harbour," says McCann.
“A key part of Lend Lease’s vision for Barangaroo South is to have a high quality international hotel.
“Since being awarded the right to develop Barangaroo South in December 2009, Lend Lease has been approached by a number of leading international hotel operators expressing interest in the hotel.
“We are very pleased to be working exclusively with Crown Limited given their proven expertise in successfully delivering an outstanding hotel product.”
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Lend Lease partners with Crown on proposed Barangaroo South hotel

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Demand for CBD office space over the first six month of 2012 has almost doubled the 20-year historical average, but  is heavily skewed towards the resource-driven capital cities of Perth and Brisbane, according to the latest Property Council of Australia’s (PCA) Office Market Report.
 
Both the Sydney CBD and Canberra’s vacancy rates tightened over this period, but this was driven by a lack of new stock coming onto these markets rather than from strong demand.
 
Over the first half of 2012 of the year, the PCA calculated that net CBD absorption – the amount of space leased minus the amount of space vacated over a given timeframe – was 243,000 square metres compared to a 20-year historical average of 120,000 square metres.
Of this total, nearly half (115,000 square metres) was absorbed in the Perth CBD with 40,000 square metres absorbed in the Brisbane CBD, with both cities accounting for a combined 68% of total net absorption.
The Brisbane CBD’s net absorption of office space was just behind that of the much larger Sydney CBD office market, which recorded net absorption of 45,000 square metres.
Net absorption in the weak Melbourne CBD office market was 34,000 square metres.
While the Perth vacancy rate eased from 3.3% to 4.2% it remains far ahead as the tightest CBD office market despite a big increase in available CBD office space following the completion of Brookfield’s 45-storey City Square office tower in June, which added 85,000 square metres of office and retail space to the CBD.
Mining giant BHP Billiton is the tower’s anchor tenant, taking 60,000 square metres of space.
<img alt="perthofficev2" height="295" width="605" src="/images/stories/2012/perthofficev2.jpg"> 
The PCA notes that occupied stock in the Perth CBD grew by a “spectacular” 12% (net), posting record supply and record demand.
"In fact, Perth's net absorption was eight times higher than the city’s historical average," noted the PCA.
Furthermore, over the six months to July 2012, the Perth CBD posted the highest demand rate of all CBD markets surveyed of 8%. The demand rate is the amount of space absorbed as a portion of total stock.
The report also identifies the adjacent West Perth market as the tightest non-CBD market with a vacancy rate of only 3.2% followed by Brisbane’s Chermside (5.1%) and the Adelaide Fringe (5.5%)
“Australia’s multi-speed economy is driving office market fundamentals and shaping business confidence,” says Property Council chief executive, Peter Verwer.
“While demand for office space is a buoyant 50% above the 20-year historical average, three quarters of net CBD absorption occurred in just Perth and Brisbane.”
“The hard economics of the resources boom is tellingly reflected in the relative performance of the nation’s office markets.”
Overall the nation’s office vacancy rate was almost unchanged at 7.8% (down from 7.9% in January 2012) and is at its lowest level since 2009.
The Sydney CBD recorded the sharpest six-month fall in vacancies, dropping from 9.7% to 8.2% while the Canberra market also delivered a slight decline in vacancies, from 10.3% to 9.8%.
However, the PCA noted that in both cases, “low levels of new supply combined with stock withdrawals had a bigger impact on the vacancy factor than strong demand”.
Despite negative demand, Adelaide’s CBD also posted a vacancy decrease from 7.8% to 7.7%, due primarily to stock withdrawals.
According to the PCA report, substantially more CBD office stock was added across both CBD and non-CBD markets than was withdrawn over the first six months of the year.
Over 343,000 square metres of new office space was added over the six months to July 2012, more than 50% higher than the 20-year historical average of 211,000 square metres – while only 110,000 was withdrawn, compared to the 20-year historical average is 118,509 square metres.
There is a total of 388,917 square metres of stock due to be added to the CBD markets in the second half of 2012, but the addition of new stock will slow in the next three years with only 404,115 square metres due to come online in 2013, followed by 135,147 square metres in 2014 and 485,056 square metres in 2015.
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Perth and Brisbane dominate record demand for CBD offices in first six months of 2012: Property Council Report

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The preliminary ABS House Price Index for the eight capital cities rose 0.5% in the June quarter, largely due to price increases of 1.4% in Sydney with smaller gains in Perth (0.6%) and Adelaide (0.5%).
Melbourne house prices fell 0.4% over the quarter with Darwin the strongest detached housing market gaining 5.1% over the quarter.
The government statistician also made substantial revisions to March quarter estimates, which now show a 0.1% fall over the first three months of the year compared to a preliminary estimate of a 1.1% fall with big upward revisions for Melbourne (-1.3%, revised from -2.2%) and Sydney y (+0.8%, revised from -1.8%).
Melbourne remains the weakest detached housing market for the 12 months to the end of June, down 4.8% followed by Hobart (-3.2%), Brisbane (-2.7%), Canberra (-2.6%), Adelaide (-1.3%) and Sydney (-0.9%).
Darwin (+12.3%) and Perth (+1.1%) are the only capital city detached housing market to record gains over this 12 month period.
The ABS only provides median house prices up to the December 2011 quarter, showing Sydney at $527,000, Melbourne at $485,000 and Brisbane at $432,000.
For the June 2012 quarter, RP Data-Rismark had capital city house prices down 1.4% to a median of $480,000.
Australian Property Monitors (APM) said capital city house prices increased 0.4% to a median of $545,000.
Residex recorded a 0.7% fall in house prices in the June quarter to a median of $423,000 - but this result is inclusive of regional areas.
The ABS also put out a new ‘Experimental Other Dwellings Price Index’ measuring changes in apartments, units and semi-detached townhouses median prices.
The index shows that the apartment, unit and townhouse market had a smaller drop in price in 2011 than established detached houses.
In the year to December 2011, the new Experimental Other Dwellings Price Index fell in all capital cities with an average fall of 3%. In comparison, the price of established houses for the eight capitals fell by 4.4% over the same period. In Canberra, apartment, unit and townhouse prices fell 0.6% - the lowest annual fall out of all the capital cities. In comparison, established houses fell in price by 1.8%.  Brisbane and Adelaide showed falls of 1.2% and 1.7% for apartments, units and townhouses, compared to falls of 5.4% and 4.5% for houses. This trend also continued in Sydney (–2.1% for apartments, units and townhouses; –3.2% for houses) and Melbourne (–4.6% for apartments, units and townhouses; –5.6% for houses). 
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Capital city house prices up 0.5% over June quarter led by Sydney gains: ABS

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The Gold Coast’s population could rise by 135,000 people over the next 10 years. Past trends suggest this means that between 50,000 and 55,000 new dwellings will need to be built over this 10-year period.
Also (and despite the recent 2011 Census babble – a topic for a future missive), it is unlikely that there will be any meaningful change in the composition of the household structure on the Gold Coast over the next decade. For example, the proportion of couple households without children is projected to increase from 30% today to just 31% by 2021. Similar minor shifts are forecast across all Gold Coast household types. This is largely because three quarters of the population growth on the coast comes from migration and most migrants to the region are young.
Also, the rate of natural increase (ie. births over deaths) has more than doubled across the Gold Coast over the last 10 years. In the early 2000s, natural increase accounted for just 10% of the population growth across the coast. Last year its contribution rose to 25%. This significant increase in births is likely to boost demand for new and affordable detached housing on the Gold Coast in coming years.
Official statistics also suggest that two of the largest growth segments on the Gold Coast over the next decade will be those aged between 25 and 40 years of age and those aged in their late 60s to early 80s. Many, in both demographic growth groups, will be financially constrained.
The younger segment will be looking to buy their first home, and the older group to potentially downsize. Affordable housing options will have the most appeal. Both groups are expected to take a 25% market share of the population growth projected across the Gold Coast over the next decade.
Some recent new housing trends:
<ul>
<li>Just over half (53%) of the new dwelling approvals over the past seven years across the Gold Coast have been for detached houses. Yet over the last two years, detached housing market share has increased to over 60%.</li>
</ul>
<ul>
<li>Close to two-thirds of the “other dwellings” approved across the Gold Coast, again over the last seven years, have been multi-storey apartments, and most were either in Surfers Paradise or in Southport. Many target the short-term tourist market. Just one-third were townhouses. Townhouses are much more affordable than apartments and are typically built for permanent residents. In previous decades (the 1980s and 1990s), most (over 60%) of the attached product approved on the Gold Coast was townhouses. This provided an affordable housing option, which is currently missing on the Gold Coast.</li>
</ul>
<ul>
<li>Two-thirds of the detached houses approved on the Gold Coast are on allotments sized between 450 and 800 square metres. Just under half are still on land between 600 and 800 square metres in size.</li>
</ul>
<ul>
<li>Over the last nine years (calendar 2002 to 2010), there have been 30,500 residential lot approvals (including building units and community title schemes) across the Gold Coast. Over three-quarters (77%) of these have been approved in larger developments with over 50 or more dwellings. Just one-in-six (16%) have been in projects containing between 21 and 50 dwellings and just 6% in projects holding fewer than 20 dwellings.</li>
</ul>
<ul>
<li>Fewer new dwellings, including attached product, are actually being accommodated in “infill” areas across the Gold Coast. Three years’ worth of data now exists in that regard and it shows that in 2008, 72% of the total new dwellings approved on the Gold Coast were within the city’s existing urban area. During 2009 this proportion fell to 57% and during 2010 it was just 51%.</li>
</ul>
Further observations
The existing demographic make-up of the Gold Coast, and in particular its emerging shape, strongly suggests the need for more detached housing. In addition, there are not enough alternate – and more affordable – housing types being supplied onto the Gold Coast market. These alternate housing types include not only townhouses, but terrace homes, “plexes” and in some cases, suburban-based apartment product.
Current trends suggest that the Gold Coast will not be able to accommodate the projected population growth within its existing urban area.
Most of the new development across the Gold Coast takes place within large developments. Increasingly, such large-scale developments cannot be accommodated in “infill” situations. Fragmented ownership plus, now, the rise of NIMBYism, has limited the number of economic development opportunities within the Gold Coast’s existing urban area. Higher purchase costs, smaller dwelling sizes and buyer/end-user profiles are also making new “infill” development less suited to most Gold Coast residents.
The Gold Coast needs to increase its supply of affordable new housing. This needs to be supplied in locations where permanent residents can afford to buy or rent. This can, increasingly, only be achieved outside of the existing urban area and on green-field or broad hectare sites within the urban footprint and in well-serviced locations.
In the immediate and short-term, the market will not bear the entrenched approach, which focuses much of this attention on delivering attached unit dwellings in close proximity to the coast. A better approach would allow for current market conditions (and emerging demand) by leaving open the possibility of more detached housing-based developments.
The irony is that the Gold Coast is actually one of the most undersupplied housing markets in Australia. What is supplied has very little demand, and way too much of it is focused around lifestyle and the discretionary spend. Not enough supply is focused on real life.
The Gold Coast needs to start thinking like a capital rather than a tourist destination or sea change location.
Michael Matusik is the founder of <a target="_blank" rel="nofollow" href="https://www.matusik.com.au">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Readers can follow <a target="_blank" rel="nofollow" href="https://www.matusikmissive.wordpress.com">Michael's blog</a> or follow him on <a target="_blank" rel="nofollow" href="https://www.twitter.com/michaelmatusik">Twitter</a> – five tweets a day, some of which are on the property market.
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