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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Buyers still hold the balance of power when it comes to buying homes according to the May quarter update to the Commonwealth Bank-RP Data Home Buyer’s Index (HBI) with Sydney still rated as a buyers market while Melbourne is rated as balanced.
While conditions favour buyers, the latest index shows a modest improvement over the past quarter as the volume of stock available has eased. The index sits just below 100 – indicating a balanced market – having dipped in favour of buyers since the start of the year.
Queensland and Tasmania are rated as extreme buyers’ markets – as they rated in the February index – with conditions “well and truly skewed towards the buyer”.
Brisbane is a more balanced market than its corresponding state market, rated one notch down as a buyers’ market.
However, Hobart matches Tasmania as an extreme buyers’ market – the only combined state and capital city market to be heavily skewed in favour of buyers.
No state or capital city market is rated as a sellers’ market, with Victoria the only state market where conditions have improved in favour of sellers – going from a buyers’ market to a balanced market, matching Melbourne, which is also rated a buyers' market.
The other balanced markets are Canberra and the ACT with Sydney, Adelaide and Perth rated as buyers' markets.
Darwin is the only capital city where conditions have improved in favour or sellers – also going from a going from a buyers’ market to a balanced market.
The report notes that total advertised stock levels continue to outweigh the number of home loans funded, “suggesting buyers should have a reasonable amount of leverage when it comes to negotiating on the purchase of a home”.
While Queensland and Tasmania market conditions well and truly favour buyers, “at the other end of the spectrum Victoria and the Australian Capital Territory are experiencing more balanced market conditions with vendors and buyers relatively evenly matched”.
“At a capital city level conditions typically indicate that the market is in favour of the buyer. Again, Melbourne and Canberra are the outliers along with Darwin, with conditions proving to be balanced.”
Commentary on the state capital city markets is:
Sydney (Buyer’s market): Sydney's selling conditions have improved slightly over the last quarter, however buyers remain better positioned in negotiations than vendors. Given these conditions vendors will likely have to set more competitive prices in order to attract purchaser interest.
Melbourne (Balanced market): Market conditions across Melbourne are relatively balanced with the number of homes available for sale broadly in line with buyer demand over the past quarter. Conditions still slightly favour buyers rather than sellers and vendors will need to keep this in mind when trying to sell their home.
Brisbane (Buyer’s market): The ratio of supply to demand in Brisbane has not changed over the quarter with conditions continuing to favour buyers, with the amount of housing supply outstripping the number of buyers that are active in the current market. Buyers remain in a strong negotiation position and vendors will need to be realistic about their price expectations.
Adelaide (Buyer’s market): Housing market conditions across Adelaide continue to favour buyers rather than sellers, however there has been a noticeable improvement in selling conditions over the past quarter. Those people looking to buy homes in Adelaide hold a slightly superior position in negotiations to those looking to sell in the current market.
Perth (Buyer’s market): Prospective home buyers in Perth remain in the driver’s seat, with the number of homes for sale still outweighing effective demand. The Index suggests that buyers are enjoying a stronger position when it comes to settling on the purchase price, however conditions for sellers have shown modest improvement over the past quarter. Sellers will still need to be realistic in their price expectations in order to make a sale.
Hobart (Extreme Buyer’s market): The index for Hobart shows market conditions remain well and truly in favour of the buyer and have shown only a slight improvement over the past quarter. These conditions suggest increased scope for price negotiation in the current market. Effective supply is continuing to outweigh effective demand which is likely to result in a superior negotiation position for buyers.
Darwin (Balanced market): Conditions across the Darwin housing market have improved in favour of the seller over the last quarter and now show a market that is reasonably balanced. Should vendors hope to successfully sell their property they will still need to set their price appropriate to the current market in order to attract buyer interest.
Canberra (Balanced market): Across Canberra, buyer demand and the supply of housing available for sale is relatively evenly balanced with conditions slightly favouring the seller. Over the past quarter there has been very little change in selling conditions. The current HBI reading shows a balanced market with buyers and sellers evenly matched.
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Queensland and Tasmania the most extreme buyers’ market, with conditions balanced in Victoria and the ACT: CBA-RP Data

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Shopping centre landlord GPT is backing its portfolio of regional shopping centres to continue to perform strongly, despite the threat posed to vacancies and rental revenue from online retailing, according to a report by credit rating agency Moody’s
<a href="https://www.propertyobserver.com.au/news/westfield-gpt-best-placed-to-deal-with-online-threat-but-still-facing-concerns-over-vacancies-and-rental-growth-moodys/2012073055780">The Moody’s report warned that online shopping and the high Australian dollar</a> could impact on vacancy rates and inflation-adjusted rental increases for retail REITS including GPT and Westfield.
Responding to the Moody’s report, Mark Fookes, GPT’s head of investment management, says the company “believes in the future of retail as a strong investment class”.
“We are confident our retail portfolio will continue to deliver solid income growth as GPT continues to actively evolve the tenant mix, invest in complimentary technology, and focus on enhancing the customer experience,” he says.
“GPT believes quality regional shopping centres which dominate their trade area will continue to outperform other retail asset classes.
“Quality regional centres provide the benefits of strong tenant demand; tenant diversification; a broader retail offer including entertainment and leisure; and flexibility to evolve the retail offer and enhance the customer experience.
GPT has a 60% of its property investments in the retail space, including the Highpoint shopping centre in Melbourne’s west, the 10th biggest mall in Australia and currently being expanding.
Fookes also highlighted that 95% of GPT’s retail portfolio is made up of regional shopping centres, one of the highest proportions of its peers.
Moody’s expects regional centres to show greater resilience than sub-regional and neighbourhood centres, particularly those that “provide a broad range of offerings, including entertainment, restaurants and services, are more likely to be able to continue to attract tenants than smaller and more narrowly defined centres”.
“In addition [to our high exposure to regional shopping centres], 86% of our retail portfolio income is underpinned by structured rental increases of 4.5% in 2012,” Fookes says.
Westfield declined to comment on the Moody's report, deferring to its interim results, which will be released on August 16.
GPT will release its full results on August 27.
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GPT confident retail property portfolio will continue to deliver strong returns and rental growth

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The number of dwellings approved for construction fell 2.5% in June in seasonally adjusted terms, according to latest ABS estimates, following a rise of 27% in the previous month.
Economists polled by Bloomberg last week had forecast a much bigger 15% month-on-month fall in building approvals in June.
Nevertheless, the results will disappoint the residential construction sector.
The biggest monthly fall in dwelling approvals in June was recorded in Victoria (-14.6%).
There were, however, strong gains in the mining states with Western Australian approvals up 28.9% followed by Queensland (18.0%)
Smaller gains were also recorded in Tasmania (9.2%), New South Wales (7.7%) and South Australia (4.1%) in seasonally adjusted terms.
The detached housing sector remained weak.
Approvals for private sector houses fell 1.1% in June and are down 9.1% year-on-year with the monthly fall led by  New South Wales (-4.5%) and Victoria (-3.3%) but rose in Queensland (5.3%), Western Australia (4.4%) and South Australia (0.4%).
The value of total building approved fell 9.8% in June, in seasonally adjusted terms, after rising for 2 months. The value of residential building rose 0.2% while non-residential building fell 22.3%.
The Housing Industry Association noted the approvals update was a "reasonable result at face value."
The HIA chief economist, Harley Dale said the decline of 2.5% in total seasonally adjusted building approvals in June 2012 looked "modest" in the context of the 27% jump which occurred the previous month."
"Furthermore, the headline result reflects the sharp decline now underway in Victoria, with building approvals increasing in June in every other state and territory," said Harley Dale.
"Building approvals increased in the June 2012 quarter and this improvement is driven by a relatively healthy rebound in ‘other dwellings’," said Harley Dale. "The concerning factor is that this recovery masks on-going deterioration in the core detached house segment of the new home building market."
"Housing starts are back at recessionary levels in 2012 and the pain of that situation for tens of thousands of businesses around the country is unfortunately plain to see," Harley Dale said.
"It is vital to see evidence of a broad-based recovery in building approvals and that is simply not the case at present," said Harley Dale. "Detached house approvals fell by 6.2% in the June 2012 quarter and by 10.2% last financial year to reach their lowest level in over a decade. The trend decline in detached house approvals now extends to 30 consecutive months."
"That situation makes the case for government investment in new housing and reform of the excessive and inefficient levels of taxation on the sector all the more compelling," added Harley Dale.
 
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Building approvals fall 2.5% in June led by big drop in Victoria: ABS

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Property investors are becoming more active in Australia’s two mining states – Western Australia and Queensland, according to a recent report by Knight Frank.
Declining numbers of properties available for sale in the Perth metro area combined with a strong rental market are bringing “high numbers” of investors back to Perth, says Neil Kay, Knight Frank’s director of residential project marketing.
He notes Real Estate Institute of Western Australia (REIWA) figures that show the number of properties in the Perth metro area available for sale has been steadily dropping over the last 10 months.
“It reached a high of circa 18,000 properties [including house, unit and land] early last year in 2011."
“However, according REIWA we are sitting at around 13,400 properties on the market, and this is decreasing every week, due to a combination of factors over the last year, such as WA has the fastest-growing population rate and lowest unemployment, highest wages, and so on,” says Kay.
He says WA now has one of the strongest rental markets, “with huge numbers of people flocking to the area for work”.
“Inner-city rents have jumped about 30%. For example a two-bedroom unit fully furnished was $600 per week 12 months ago. Over the last two weeks, we have been renting the same unit for $850 per week.”
“Supply of property for sale is dropping as owners decide to rent out their property instead of selling."
“Major oil and gas companies and all the supporting businesses and companies are opening up offices and bringing people over to work. So the rate of sales in off-the-plan apartments is increasing as the supply in established apartments tightens.”
Kay says it’s only a matter of time when all these factors combine to start putting increasing pressure on property prices to start rising.
In Queensland, investors are opting for low-rise (or “horizontal”) off-the-plan development as opposed to high-rise (or “vertical”) off-the-plan development, says Mathew Cassidy, Knight Frank’s residential property manager for project marketing.
“The reason seems to be surety around delivery of the property, meaning that the villa or house will be delivered in a time frame that suits their specific situation,” he says.
Cassidy also expects a recovery in sales volumes on the more predictable Gold Coast and Brisbane – barring any unforeseen world crisis – with rentals in both areas still strong.
“Regional mining areas have seen strong capital growth and new construction. Our regional offices note that this looks set to continue for several years at least. Occupancy rates and rental returns are flourishing due to a lack of quality accommodation and dwellings,” he says.
The strong performance of Perth’s rental market in particular – and Brisbane’s to a lesser extent – was revealed in the March quarter figures put out by the Real Estate Institute of Australia (REIA).
Perth rents for three-bedroom houses have risen 9% over the previous 12 months to a median of $425 while two-bedroom units are up 8.1% over this period to $400, according to the REIA.
Brisbane three-bedroom house rents are up 2.9% to a median of $360 for the 12 months to March while two-bedroom units are up 4.3% to $365.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/06/reiajune18.gif" title="Click to enlarge"><img src="/images/stories/2012/06/reiajune18thumb.gif"></a>
Source: REIA
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Property investor activity on the rise in mining states WA and Queensland: Knight Frank

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The Adelaide suburb of Glenelg, with 3,448 people in an area less than a square kilometre, is the most crowded suburb in South Australia, according to RP Data. The suburb has 3,619 people per square kilometre.
The most crowded regional area in South Australia is Risdon Park, in the Barossa Valley, with 1,264 people per kilometre.
Adelaide
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/rpjuly27.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly27thumb.gif"></a>
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/rpjuly28.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly28thumb.gif"></a>
 
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Glenelg the most crowded suburb in Adelaide: RP Data

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I was interested this week in a financial wellbeing survey, which focused on the gap between the size of superannuation, and what is actually needed for retirement. Just 23% of Australians are confident their super will fund a decent retirement. When it comes to superannuation, there are distinct phases: people in their teens and 20s don’t care; people in their 30s and 40s do care but they’re focused on career, mortgage and kids; and people in their 50s and 60s are panicking about retirement. Let’s start with the first group. Those new to the workforce don’t think about retirement, but their decisions now have ramifications 40 years later. The law says your employer has to put 9% of your wages into a complying super fund, so you start with the advantage of a developing nest egg with tax breaks. You owe it to yourself to shop around the funds and see what they offer. Secondly, I suggest you roll any super accounts your might have from previous employers into one super account. You should also put some extra super in each month and select which accounts your super goes into. Your super fund has various allocations, such as conservative, balanced, growth, international, property and so on. When you are young you should have your super in funds that ride the more volatile yet higher-yield shares-based funds. It gives you the best chance of having a large nest egg when you retire. Then we have people in their 30s and 40s. This is a difficult group to interest in superannuation because all of their earnings are going into mortgages and/or kids. But these are also peak earning years so income should be put away to be accessed later. In these years you should start with owning your own home. Secondly, you should be contributing more to your superannuation than the 9% your employer puts in. Fifteen per cent of earnings is a good target. And don’t forget to protect your earning power with life insurance, income protection insurance and total and permanent disability (TPD) insurance. With the complex interactions between tax, retirement savings and tax breaks, you can easily lose advantages that the law provides, so I suggest you get an adviser. The third life stage – people in their 50s and 60s – is the most complex because a certain amount of life has been lived and retirement is drawing closer. Start by knowing how much you’ll need to live on. Secondly, work on owning your home: either do this in your working years or use your superannuation to pay out the mortgage. Thirdly, you must get the most from super, especially if you own a business or you have a self managed super fund. Superannuation is designed to allow you to be a self-funded retiree. But you have to make it work to your advantage, and for most of us, that means taking advice.
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.
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Sorting your super at every age

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In today’s world most goods or services that are offered on the market have a fixed asking price. They are offered for sale without the option to negotiate, which is called “bargaining”.
But it hasn’t always been that way and we seem to have lost the old concept of bargaining and now call it negotiation. It is still the same thing.
Wikipedia defines <a href="https://en.wikipedia.org/wiki/Bargaining">bargaining</a> as: “Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service dispute the price which will be paid and the exact nature of the transaction that will take place, and eventually come to an agreement.”
In real estate today that pretty much sums it up though I am not very comfortable with the term “dispute”.
Either way, the fact is that real estate purchases have always been negotiable. The seller asks a fixed price or puts their property up for auction to the highest bidder. So we’re back to a sort of bargaining again.
But you see there is an important element involved in this. It is called perception of value, and this is the most important ingredient in the practice of bargaining.
It is about the perceived value of a material object. As in Murphy’s Law, what the buyer believes is usually at opposite ends to what the seller believes. The concept of value is different for everyone involved in a purchase or a sale. It depends which side of the coin you are on.
There is an old saying that “Beauty is in the eye of the beholder.” And this holds true for anything you want to buy as a consumer.
Would I have paid $120 million dollars for Edvard Munch’s iconic masterpiece The Scream? No. But that is just me, and if I had that sort of money I would now be sitting happily under a coconut tree with Clive Palmer sipping cocktails in Bora Bora.
In the real estate merry-go-round sellers offer their property for sale, not just based on its current market value but on the value they place on it themselves. Similarly, buyers will value it based on their own perception. So we are back to bargaining again.
I love a bargain and don’t we all. The problem is that sellers want to make a profit. It is all about money, and money makes the world go round.
Tim Mansfield is a 30-year global veteran in the real estate industry and founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank" rel="nofollow">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#%21/tim_mansfield" rel="nofollow">here</a>.
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The art of bargaining in real estate

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Detached new home sales increased by 23.5% in Western Australia over June, leading a 2.8% national gain across all new dwelling types, according the Housing Industry Association's (HIA) monthly survey of Australia's largest volume builders.
June was the third straight month of improving new home sales as recorded by the HIA, though they still remain at very low levels.
The national gain over June was driven by 15.7% jump in the sales of multi-units with the detached housing market flat, recording only a 0.7% gain.
"It is encouraging to see a second consecutive jump in the sale of multi-units," says HIA chief economist, Dr Harley Dale. “Sales were up by 30.8% over the June 2012 quarter.”
"It is, however, a stark reminder of how much catching up is left in the multi-unit sector when a lift of this magnitude still leaves sales volumes 36% below their 10 year average,” says Dale.
Over the June 2012 quarter detached house sales fell by 1.1% to be a sharp 24.5% lower than the volume for the June 2011 quarter.
<img alt="newdwellings" src="/images/stories/2012/newdwellings.jpg" height="286" width="461">
“That’s a concerning update which sees detached house sales running at an annualised level 35% lower than the 10 year average and 44% below the long-term history of the series."
“Lower interest rates will assist new housing in 2012/13, but the large gap between the cash rate and variable mortgage rates will blunt their positive impact."
“Investment and reform from governments is the key ingredient to lifting the new housing sector substantially above the recessionary levels of 2012. State governments have a crucial role to play, as do local governments, but it is the Federal Government that needs to act first and lead by example.”
WA detached house sales are up 9.3% over the June quarter, but the HIA says “problems with the building act means this improvement will not translate into construction activity any time soon”.
Detached house sales increased by 2% in NSW, 4.4% in South Australia, but fell by 9.6% in Victoria and by 11% in Queensland.
Over the June 2012 quarter detached house sales fell in New South Wales (-6.2%), Queensland (-21.1%) and South Australia (-8.3%).
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WA detached new home sales up 23.5% in June as unit sales help drive 2.8% national improvement: HIA

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Economists are nearly all in agreement that the RBA will leave the cash rate unchanged at 3.5% at its next board meeting on August 7.
Twenty out of 24 economists polled by Bloomberg just before the weekend expect the RBA to continue to hold fire, up from 15 in the previous survey, a week prior.
Key data that may influence the RBA’s decision on the cash rate includes the release of private credit growth figures on Tuesday, building approvals data on Tuesday, capital city house price figures on Wednesday and retail trade figures on Thursday.
The prospects for a September rate cut are better, but also slim, with 17 out 24 economists expecting the RBA to hold fire again.
There are some prominent economists tipping a rate cut in August.
Shane Oliver, chief economist at AMP Capital Investors, expects the RBA to cut the cash rate by 25 basis points on August 7 as does Stephen Koukoulas from Market Economics.
Koukoulas is by far the most bullish economist on the cash rate among those surveyed by Bloomberg.
He is forecasting the cash rate to fall to 2.75% by year end and to fall another 25 basis points to 2.5% in the first quarter of 2013.
The majority of economists (13 out of 24) expect a cash rate of 3.25% in the first quarter of 2013.
Those readers thinking about refinancing their home loan should sign up for Property Observer’s free webinar: <a target="_blank" href="https://propertyobserver.us2.list-manage1.com/track/click?u=24bd0766a834290948593f5aa&amp;id=73e60d1a88&amp;e=add64da266">Refinancing and the </a><a target="_blank" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=9814caeb06&amp;e=add64da266">interest rates riddle</a>, taking place on Tuesday, 31 July a 12:30pm AEST.
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Economist don’t foresee RBA cash rate cut in August and rate cut also unlikely in September: Bloomberg survey

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Trying to work out whether the Sydney, Melbourne or Brisbane housing market is going up or down?
Or just trying to work out whether you’re buying something at or below the median price?
It all depends on which housing data provider you choose to reference  - they all use different methodologies to calculate their indexes and hence will never be in agreement.
RP Data-Rismark, Residex and Australian Property Monitors (APM) have all released their June quarter data, so direct comparisons can now be made.
(The ABS will put out its June eight capital city indexes on August 1.)
In just two markets – Brisbane houses and Melbourne units – do all three providers agree on the direction they are heading…in both cases down.
The REIV released June quarter  data for Melbourne showing house prices up 2.9% to a median of $535,000 - the strongest quarterly gain recorded by all data providers.
Rarely are the national data providers within $10,000 of each other on the median house or unit price.
For example, RP Data-Rismark has the Sydney house price at a median of $616,000.
Residex says the median is $50,000 higher at $666,500, while APM’s Sydney median house price is in between the two at $642,425.
Some of the differences are startling.
<ul>
<li>Residex says Darwin house prices rose over 7% over the June quarter to a median of $511,500, while APM and RP Data both have Darwin house prices falling. 
</li>
<li>Residex says Perth house prices fell by more than 4% of the June quarter, while APM and RP Data have the market treading water. </li>
</ul>
<ul>
<li>RP Data says Hobart unit prices fell almost 10% over the June quarter, while Residex has them as unchanged, and APM records a smaller 3.9% decline.</li>
</ul>
Here’s a breakdown of how the three commercial data providers have assessed the June quarter performance of the main capital city markets:
For markets where the price has moved by less than 0.2% either way, they have been judged for the purposes of comparison as "unchanged”:
Sydney houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $616,000
</td>
<td valign="top" width="214">
Median price: $666,500
</td>
<td valign="top" width="185">
Median price: $642,425
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -1.4%
</td>
<td valign="top" width="214">
UNCHANGED
</td>
<td valign="top" width="185">
UNCHANGED
</td>
</tr>
</tbody></table>
Melbourne houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $517,500
</td>
<td valign="top" width="214">
Median price: $555,500
</td>
<td valign="top" width="185">
Median price: $531,167
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -3.1%
</td>
<td valign="top" width="214">
DOWN over quarter: -1.31%
</td>
<td valign="top" width="185">
UP over quarter: +1.6%
</td>
</tr>
</tbody></table>
Brisbane houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $415,000
</td>
<td valign="top" width="214">
Median price: $412,500
</td>
<td valign="top" width="185">
Median price: $427,963
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -0.6%
</td>
<td valign="top" width="214">
DOWN over quarter: -3.75%
</td>
<td valign="top" width="185">
DOWN over quarter: -1.3%
</td>
</tr>
</tbody></table>
Perth houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $475,000
</td>
<td valign="top" width="214">
Median price: $467,000
</td>
<td valign="top" width="185">
Median price: $536,151
</td>
</tr>
<tr>
<td valign="top" width="216">
UNCHANGED
</td>
<td valign="top" width="214">
DOWN over quarter: -4.26%
</td>
<td valign="top" width="185">
UNCHANGED
</td>
</tr>
</tbody></table>
Adelaide houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $383,250
</td>
<td valign="top" width="214">
Median price: $385,500
</td>
<td valign="top" width="185">
Median price: $436,285
</td>
</tr>
<tr>
<td valign="top" width="216">
UP over quarter: +1.7%
</td>
<td valign="top" width="214">
DOWN over quarter :-0.34%
</td>
<td valign="top" width="185">
UNCHANGED
</td>
</tr>
</tbody></table>
Canberra houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex*
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $520,000
</td>
<td valign="top" width="214">
Median price: $529,000
</td>
<td valign="top" width="185">
Median price: $575,825
</td>
</tr>
<tr>
<td valign="top" width="216">
UP over quarter: +0.8%
</td>
<td valign="top" width="214">
DOWN over quarter: -1.41%
</td>
<td valign="top" width="185">
UP over quarter: +1.1%
</td>
</tr>
</tbody></table>
Darwin houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $510,000
</td>
<td valign="top" width="214">
Median price: $511,500
</td>
<td valign="top" width="185">
Median price: $608,843
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: - 1.9%
</td>
<td valign="top" width="214">
UP over quarter: +7.13%
</td>
<td valign="top" width="185">
DOWN over quarter: -1.2%
</td>
</tr>
</tbody></table>
Hobart houses
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $356,500
</td>
<td valign="top" width="214">
Median price: $357,000
</td>
<td valign="top" width="185">
Median price: $322,584
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -0.6%
</td>
<td valign="top" width="214">
DOWN over quarter: -4.15%
</td>
<td valign="top" width="185">
UP over quarter: +0.5%
</td>
</tr>
</tbody></table>
 
Sydney units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $477,000
</td>
<td valign="top" width="214">
Median price: $490,500
</td>
<td valign="top" width="185">
Median price: $464,124
</td>
</tr>
<tr>
<td valign="top" width="216">
UP over quarter: +3.3%
</td>
<td valign="top" width="214">
UNCHANGED
</td>
<td valign="top" width="185">
UNCHANGED
</td>
</tr>
</tbody></table>
Melbourne units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $430,000
</td>
<td valign="top" width="214">
Median price: $428,000
</td>
<td valign="top" width="185">
Median price: $392,862
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -5%
</td>
<td valign="top" width="214">
DOWN over quarter: -0.91%
</td>
<td valign="top" width="185">
DOWN over quarter: -1.2%
</td>
</tr>
</tbody></table>
Brisbane units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $365,000
</td>
<td valign="top" width="214">
Median price: $349,500
</td>
<td valign="top" width="185">
Median price: $356,744
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -0.7%
</td>
<td valign="top" width="214">
UNCHANGED
</td>
<td valign="top" width="185">
DOWN over quarter: -1.7%
</td>
</tr>
</tbody></table>
Perth units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $405,000
</td>
<td valign="top" width="214">
Median price: $421,000
</td>
<td valign="top" width="185">
Median price: $348,960
</td>
</tr>
<tr>
<td valign="top" width="216">
UP over quarter: +1.4%
</td>
<td valign="top" width="214">
UP over quarter: +7.45%
</td>
<td valign="top" width="185">
DOWN over quarter: -4.5%
</td>
</tr>
</tbody></table>
Adelaide units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $318,750
</td>
<td valign="top" width="214">
Median price: $305,000
</td>
<td valign="top" width="185">
Median price: $296,802
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -2.3%
</td>
<td valign="top" width="214">
UNCHANGED
</td>
<td valign="top" width="185">
UP over quarter: +1%
</td>
</tr>
</tbody></table>
Canberra units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex*
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $408,000
</td>
<td valign="top" width="214">
Median price: $436,000
</td>
<td valign="top" width="185">
Median price: $421,339
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -1.7%
</td>
<td valign="top" width="214">
UP over quarter: +5.38%
</td>
<td valign="top" width="185">
UP over quarter: +2.5%
</td>
</tr>
</tbody></table>
Darwin units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $419,250
</td>
<td valign="top" width="214">
Median price: $407,000
</td>
<td valign="top" width="185">
Median price: $384,384
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -0.6%
</td>
<td valign="top" width="214">
UNCHANGED
</td>
<td valign="top" width="185">
DOWN over quarter: -2.9%
</td>
</tr>
</tbody></table>
Hobart units
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="216">
RP Data 
</td>
<td valign="top" width="214">
Residex
</td>
<td valign="top" width="185">
APM
</td>
</tr>
<tr>
<td valign="top" width="216">
Median price: $279,000
</td>
<td valign="top" width="214">
Median price: $265,000
</td>
<td valign="top" width="185">
Median price: $260,393
</td>
</tr>
<tr>
<td valign="top" width="216">
DOWN over quarter: -9.8%
</td>
<td valign="top" width="214">
UNCHANGED
</td>
<td valign="top" width="185">
DOWN over quarter: -3.9%
</td>
</tr>
</tbody></table>
 
*Residex Canberra figures for the ACT 
For a break down of the RP Data-Rismark Daily Home Value Index <a href="https://www.propertyobserver.com.au/trends/change-in-median-prices-dont-inform-on-housing-market-direction-rp-data-rismark/2012073055768">click here</a>.
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