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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There may be some reservation involved when it comes to census time. Handing over details such as family income and household budgets when you’ve got no idea where the data will go once it’s been collated understandably causes hesitation. However, I have no qualms – I’m one of those annoying people who will fill out the form online before the hard copy even hits the doormat. The results simply fascinate me. They provide a wealth of information for property investors, home owners, renters, and just plain nosy citizens wanting to gain perspective on where we stand in this broad, diverse society of ours.
The results however are hardly surprising for most that keep track of price movements and pressures of affordability.  Despite the recent downward spiral in property prices, housing – particularly along the eastern seaboard – is becoming increasingly unaffordable for a large proportion of young residents.
It’s therefore no surprise to see the numbers renting across the nation increasing from 27.2% to 28.7% since 2006, with yields up by a whopping 50% (and up as high as 77% in Western Australia).
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The figures reported indicate 34.5% of 30- to 39-year-olds now live in rented accommodation and clearly struggle to save a deposit while servicing rising rental costs. Wage growth for the vast proportion of ordinary folk simply isn’t keeping pace – particularly if you haven’t got your foot on the ladder in the first place.
It’s not a case of home ownership being out of vogue, given the option between renting for life or owning, most would choose the latter. However, the debt-fuelled inflation that spiked property prices prior to the GFC, along with poor planning for population growth and other policy initiatives such as first-home owners’ grant – often laughably promoted as “aiding” housing affordability – have in turn pushed ownership off the table for a growing proportion of young residents.
Along with this data, outright home ownership is also declining. Families with children in particular are suffering – recording a decrease in their ownership rate from 79.5% to 77.2%. Other reports suggest, had ownership percentages stayed at the same level as the “peak” recorded in the 2006 census, we’d have welcomed an additional 34,000 into the property market and yet meanwhile, we hear our leaders proclaim their intention to increase the number of home owners, because if nothing else, it makes good policy speak.
The question seems to reside around whether, as a nation, we have a responsibility to provide ownership as a national right for all (importantly, low-income families) who hanker after the great “Australian Dream”. In truth, more than expressing it as such, it became viewed as such after World War II. Along with this came a range of policy initiatives intended to assist low-income households gain finance expressly for the purpose of obtaining a foothold on the property ladder. The uptake was naturally and predictably followed by a series of boom cycles buoyed on by investor speculation as most came to expect they’d retire with a property or two worth substantially more than it had been when first purchased.
However to afford the luxury of ownership, Australia’s household debt as a percentage of disposable income has sat stubbornly at around 150% for the past five years. For those unaware, this is the highest in the world.  Back in the early 1980’s, during which home ownership levels were 70.1%, household debt to disposable income was only 50%.  You can try and justify the data all you like – stressing income growth, lower borrowing costs and so forth, however it doesn’t take away the physiological impact and significant risk employed in holding such high levels of debt against residential housing – particularly in light of the GFC’s catastrophic effects both in Europe and the USA. However, from Australia’s current prospectus, a crash of similar proportions is something we’ll hopefully avoid.
So are we on our way to becoming a rental nation? Well, according to the stats, yes. Should ownership rates keep dropping at the same rate, in some 80 years’ time, 50% of Australia’s population will be living in rental accommodation – it’s hardly encouraging, is it?
 
<hr class="system-pagebreak">
 
An OECD report released mid last year indicated Australia is one of just five developed countries where ownership rates have fallen (along with Greece, Mexico, France and Luxembourg). However if you assess the data on a deeper level – we’re not just on a slow transition into a dominating rental market, you could equally argue we’re fast transitioning to a wandering nation of people with no fixed abode, as it seems the number of rooming houses in Melbourne alone has increased fourfold since 2006.
According to Professor Chris Chamberlain of RMIT University, there’s been a 236% increase in the number of people living in this type of accommodation since the last census. Rooming establishments are “homes” that house the most venerable – one step up from sleeping on the streets – and this data alone should wave a red flag of distress on the horizon of our sunny “lucky country” portfolio – a country with a mere 5% unemployment, loosely termed as “zero unemployment”. I should perhaps also point out that in some states, rooming and community homes are not required to meet any particular standard. Inspect a few and it soon becomes clear that comparative to Australia’s accepted standard of living, they’re “slums” for the poor.
It seems crazy that we’re in such a position considering the census data also indicates a significant rise in vacant homes – homes sitting empty, untenanted, unoccupied.  It’s worth noting, the rise from 10.4% in 2006 to 10.7% in 2011 would also include homes being renovated, sold, holiday homes, and those unoccupied on the night of the census, however there would also be a large proportion sitting vacant for no good reason, either being “land banked” or standing derelict, with little incentive from government to encourage repair.
All this aside, the total number of unoccupied dwellings officially stands at 934,471 and considering they are not all one-bedroom dwellings, this is more than enough to house Australia’s homeless. I’m not suggesting we force owners to open the doors of their empty properties to all and sundry, I’m simply stressing that the rising homeless figures sit at the bottom of a long spiral that stems from years of increasing house prices and rents, which in turn has pushed a growing minority further and further away from the security owning their own home can provide.
As for current stock on market, well SQM has June’s national total up 1.7% to 386,857 – with Hobart and Melbourne showing the biggest yearly increases at 29.4% and 27.7% respectively. For any home buyer currently shopping in inner-metro localities – areas commonly referred to as the inner and middle suburban rings of our capital cities – the levels of stock mean little. This is because the buyer market is not shopping for roof space, they are searching for quality accommodation that is suitably situated for their family’s needs. In the established suburbs, property fulfilling the current needs of home owners is not thick on the ground – especially considering most are looking with a cautionary eye on personal finance.
There was a heated Twitter debate the other week surrounding RP Data’s figures for the month of June, which indicate a rise in Melbourne’s median house price by 1%. On the back of this, REIV figures have also indicated a modest rise of 2.9% in Melbourne’s median house price for the month of June.  It’s worth noting, a rise in house prices of any percentage is not necessarily indicative of the health of the market.  Overall turnover in Melbourne – the number of sales that keep agents working, builders building and the industry as a whole ticking along – is year to date lower than it has been for the past four years. To push the point home, from an outside perspective, you could look at the worst period of the GFC in 2008 and 2009 and herald it Melbourne’s ”good times”.
However, despite the sluggish turnover rates, a rise in the price of properties that are selling would not be inconceivable. As a snapshot example, I attended five auctions this past weekend, all of which sold under the hammer with heated competition. Furthermore, all were pushed to the top end of the advertised range.  It all boils down to the one thing – the shortage of affordable stock buyers actually want to purchase.  As a case in point, the auctions I attended were: 
<ol style="list-style-type: lower-alpha;">
<li>Well positioned (inner- and middle-ring established suburbs);</li>
<li>Represented the best of their type from options currently on the market; and</li>
<li>Were priced appropriately for market sentiment within a $350,000 to $800,000 price range (covering most dual-income households).</li>
</ol>
This aside, for a number of reasons – some of which I’ve touched on above – we have an overall reduced number of buyers in the market. However, those actively looking feel under no pressure to settle for subpar properties while the market is predominately flat. I’ve fielded an uncommonly high number of calls from developers this week seeking assistance to shift stock in outer suburban estates.  One in particular told me he’d had only one sale in three months and was now close to bankruptcy.  However despite this, the irrationality of building on the fringe continues. When will governments learn to get the infrastructure planned and financed before building their “Noddy” estates. As I’ve stressed before, every home buyer and investor survey ever conducted into housing pinpoints “good access to public transport” top of the priority list.
Although “following the population” it’s not a sure-fire way to property investment success – as I’ve addressed previously. It seems sensible to assume that a large influx of residents into one state another would indicate the potential increase in demand comparative to supply – which as we’re all aware, has an upward effect on property prices.
The census shows Western Australia is the fastest-growing state, with a whopping 14.3% of people taking residence there, no doubt buoyed on by the mining boom.  If you do a breakdown of population increases in the top 20 municipalities across Australia, 85% of them are in WA.
Not surprisingly, the mining towns in particular are suffering their own mini property boom with a population growth that can only be described as “spectacular”. According the census, the Shire of East Pilbara leads the way, housing 7,900 people aged between 25 and 44, 3,000 of which have moved in from other states – principally for the work and weather.  Of course, when the “gold rush” ends, prices in the mining towns in particular will drop.  However, historically the east and western states of Australia have always been somewhat out of sync when it comes to growth in houses.
WA in particular is coming out of a five- to seven-year period of stagnation during, which Melbourne and Sydney experienced unprecedented pre GFC growth – it would therefore not be surprising to see Melbourne and Sydney undergo their own extended flat patch as WA takes the lead in price growth. Whichever way you look at it, investors shopping in the eastern states need to be exceptionally picky with their purchases if they want to make the most of any marginal gains in the short to medium term.
Finally, the most common question I get asked is “when will the market recover?”  Well, you can digest the economics – analysing GDP, interest rates, construction data, household finance, as much or as little as you like. However it’s our politicians who have the real power when it comes to dictating market movements.  Policies such as restrictions on foreign ownership, negative gearing, town planning, grants, incentives, stamp duty and so forth play an increasing role in overall market sentiment and consequently how we choose to spend or save our money. At the bottom of it all is confidence – it’s the vital ingredient that reduces the feeling of risk while underpinning a sense of direction clearly defined by our leaders.  Therefore, if you’re looking for a recovery – look first for an election, because until we have confidence in our politicians, we won’t gain overall confidence in the market.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://ten.com.au/the-circle.htm">The Circle</a>.
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catherinecashmore-6LXia3pPQj

If you're looking for a housing market recovery, look first for a federal election

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Over the four weeks to July 8 this year, RP Data tracked 301,414 unique properties advertised for sale across the country. While the number of homes available for sale is very high, the volume has been reducing and is actually about -7.4% lower than when supply levels peaked last November.
It’s important to note that the total listings count includes both new listings (i.e. properties that haven’t been advertised over the past six months) and re-listings (properties that have been advertised at least once previously over the past six months). The measurement of new listings compared with re-listings is an important one, as it provides an insight about why listings numbers are so high.
At a national level, RP Data counted 42,473 new properties advertised for sale over the four weeks to July 8, 2012. This figure was actually 4.6% lower than at the same time last year and 38.4% lower than the historic peak. New listings are currently at virtual record low levels outside of the highly seasonal Christmas/New Year period.
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<a href="/images/stories/2012/07/rpjuly161.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly161thumb.gif"></a>
Clearly, the large number of homes available for sale is due to a lack of absorption rather than a large number of new listings being added to the market. Transaction volumes are tracking about 13% lower than what was recorded at the same time last year. Additionally, homes are taking longer to sell. Both of these factors are contributing to the higher stock levels.
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An encouraging sign that market conditions are improving is that selling time has been trending shorter over 2012 and there has been a subtle improvement in transaction volumes as well. Both these factors, together with the fact that new listings have also been diminishing, is resulting in a reduced level of effective supply. How do we calculate the number of homes for sale? 
Firstly, we need to acquire the listings data. RP Data has an exclusive arrangement with Australia’s largest real estate portal, which provides us with a direct feed of all their listings data, including the complete address of the property that is not always available to the public. We also ‘key’ listings from all the major capital city and regional media around the country. The net result is that we are capturing what is likely to be close to 100% of all properties that are being advertised for sale around the country.
 
<hr class="system-pagebreak">
 
For the next phase, we need to count the listings. This means initially de-duplicating the listings data which are gathered across multiple channels. This process occurs across a number of phases. All the addresses are standardised to account for differences in the text of the listing address. Next the ‘clean’ listings data is matched with our ownership database (RP Data maintains Australia’s largest property database that includes details on virtually every property across the country); in this way we are able to allocate a unique ID to each listing record that is associated with every listing ever recorded (this is how we can calculate the selling time and rate of vendor discounting, or simply provide the marketing history on a property). Any listings that are left over go through a manual matching process where possible. Any records that are not manually matched are excluded from the counts. For example, last week we started with close to one million listings across the country and, through our matching process, funnelled this number down to 301,414 unique properties.
Although at a national level the total amount of stock on the market is of concern, levels are easing in some regions. Across the states, total listings are lower than at the same time last year in Queensland (-2.1%), Western Australia (-4.3%) and the Northern Territory (-3%). Similarly, total listings volumes are lower than at the same time year in the capital city markets of Brisbane (-3.5%), Perth (-11.3%) and Darwin (-14.2%).
Click to enlarge
<a href="/images/stories/2012/07/rpjuly163.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly163thumb.gif"></a>
Comparatively, listings are at much higher levels than the same time last year in Victoria (33.2%), Tasmania (25.6%) and the Australian Capital Territory (27.4%). At a capital city level, listings are sitting at elevated levels in Melbourne (31.5%), Hobart (22.9%) and Canberra (33.4%).
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Overall, there is a lot of stock which has sat on the market for a long period of time that has gone unsold. It is also reported that many of these home owners are unwilling to budge on their asking price and, as a result, homes are taking longer to sell and listing volumes are elevated.
In an ideal world, we would see some of these vendors remove their home from sale if they are not serious about selling. Clearly, a large proportion of vendors aren’t in a position where they ‘need’ to sell.
While listings remain at elevated levels it is likely to continue to restrict any significant recovery in the housing market; buyers simply have too many homes to choose from at a time when there is not urgency in their purchase making decision. The spring selling season will be a big test for the market. This is a time when new listings generally rise. Will the trend of lower listings continue into spring or will we see the trend of lower listing numbers continue?
Cameron Kusher is senior data analyst at <a href="https://www.rpdata.net.au/" target="_blank">RP Data</a>.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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ckusher-ujnxiKuFQs

Elevated numbers of property listings to restrict any significant recovery in the housing market: Cameron Kusher

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The number of days property is lingering on the market before sale is increasing in most capitals and was higher in June 2012 than two years ago across Australia, according to Australian Property Monitors.
In Sydney, Melbourne and Canberra the average days on market figure for residential property peaked in the traditionally slow month of January this year. It took Sydney vendors an average of 95 days to sell property in January, slightly more than the 88 days it took on average in June 2012 and well up on the 62 average in June 2010.
Melbourne vendors took an average of 103 days to sell property in January this year, more than 50 days it took on average in June 2010. The number of days on market had fallen slightly to 96 by June 2012.
The number of days on market peaked in Canberra in February this year at an average of 87 days, with vendors taking an average of 82 days to secure a buyer in June. 
In Brisbane and Hobart the number of days homes lingered on the market in June 2012 was the highest it had been for more than two years. The days on market figure in Perth in June 2012 was just one day short of its April 2012 peak of 137.
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cknowlton-QnEa6ntUYP

Canberra still somewhat snappy, but days on market increasing in many capitals as property market cools: APM

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Mortgage and finance consultant and regular Sky Business Channel 602  interest rate analyst Iggy Damiani says there's just one thing for certain when it comes to the recent crop of housing price data.
<a target="_blank" href="https://twitter.com/iggydamiani"><img src="/images/stories/2012/07/iggytweet.jpg"></a>
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po-LsXgBTHBmX

Iggy Damiani wades into the housing price data debate: Tweet of the day

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More than 650 retail store closures have been announced since the beginning of the year, and more than 1,600 workers left without jobs – the latest as part of Myer's announcement last week that it would shed 100 staff in order to stay competitive.
The figures represent what is becoming one of the worst years for retail in recent history, as businesses struggle against higher costs and competitive pressures, including the growing presence of online companies.
Since the beginning of the year, businesses including Fletcher Jones, GAME, WOW Sight and Sound, Dick Smith, Speciality Fashion Group have all announced plans to scale back their retail footprints dramatically.
And hundreds more employees are set to lose their jobs over the next few years as expansion plans are left unfulfilled.
But that isn't all. Russell Zimmerman, executive director of the Australian Retailers Association, says he's hearing from smaller retailers that stores are closing all the time.
"We talk to our members, and what we're finding is that many businesses may say they had 15 stores last year, but they've shed that to just 12 or 13."
"It's definitely a worrying time, and I think there are plenty of reasons for it occurring."
<a href="https://www.smartcompany.com.au/retail/20111215-fletcher-jones-shuts-15-stores-but-administrator-says-10-buyers-are-interested">Fletcher Jones</a> first announced 15 store closures and 61 job losses, and was quickly followed by many others.<a href="https://www.smartcompany.com.au/retail/048289-can-billabong-pull-off-a-turnaround-five-key-challenges-smes-can-learn-from"> Billabong</a> announced plans to shut 150 stores worldwide in the next two years, with 80 jobs to be lost in Australia, while Woolworths also announced 100 Dick Smith stores will close in the next two years.
Speciality Fashion Group also said it will gradually <a href="https://www.smartcompany.com.au/economy/048332-going-going-gone-store-closure-count-nears-500-as-speciality-fashion-group-confirms-120-stores-to-go">reduce its footprint</a> by 120 stores over two years, while bedding retailer <a href="https://www.smartcompany.com.au/advertising-and-marketing/048426-administrator-shut-all-64-stores-in-sleep-city-everyday-living-chains-with-450-jobs-to-go">Sleep City</a> confirmed 64 stores and 450 jobs would go after it collapsed.
Eyewear retailer <a href="https://www.smartcompany.com.au/sales/048248-eyewear-giant-luxottica-to-shut-over-100-local-stores">Luxottica announced 100 store closures</a> to come in the next two years.
Two major retailers have accounted for more than 1,000 staff losing their jobs. <a href="https://www.smartcompany.com.au/retail/048453-how-queensland-retailer-wow-was-brought-down-by-a-20-million-property-debt">WOW Sight and Sound</a> announced 15 stores to close earlier this year, while videogame retailer GAME confirmed the last of its <a href="https://www.smartcompany.com.au/finance/049900-game-retail-chain-to-shut-60-stores-281-jobs-lost">92 stores would close</a> early this month.
Myer just announced last week 100 jobs would go as it attempts to cut down on costs.
Together, this represents more than 650 store closures and at least 1,600 staff. That figure does not include the number of store closures that have been announced in advance. Dick Smith, Speciality Fashion and Luxottica have announced more than 300 stores will close over the next two years, which will cause hundreds of staff to be left without jobs.
None of this includes Darrell Lea, which was placed in voluntary administration last week with 700 jobs on the line in 69 company-owned and franchised stores.
Zimmerman says the trend is worrying – especially after it comes during 2011 when two major chains, Angus and Robertson and Borders, collapsed leaving hundreds out of work.
"For many, it's the costs involved in their tenancy agreements, and they've got deals they want to get out of. Others have pressures from online. The new awards are increasing costs. It's an entire host of issues."
Unfortunately, however, he says there isn't much the group can do apart from speak with governments on behalf of the industry. Economic uncertainty from overseas adds to the confusion felt by small retailers and, ultimately, they'll just have to find ways to tough it out.
"There's not much we can do about confidence levels. We're working with a number of state governments on tenancy legislation, trying to get a better deal – but it's hard."
"We're just trying to put a positive spin on things as much as we can."
This article originally appeared on SmartCompany.
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pmcstafford-pr9eMARWoN

More than 650 Australian stores closed in first six months of 2012

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SQM director Louis Christopher <a href="https://twitter.com/LouiChristopher" target="_blank">has issued another salvo</a> in the ongoing debate about Australian housing price indices. 
Christopher has tweeted a link to a 2005 <a href="https://www.sqmresearch.com.au/pdf/financialreviewaugust92005.pdf" target="_blank">Australian Financial Review article </a>in response to economist Christopher Joye's article on Property Observer defending RP Data-Rismark's method of gathering house price data. 
RP Data-Rismark's home values index was launched in 2006, after the AFR article was written.
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SQM director Louis Christopher responds in index debate

lschlesinger-FZcF9M3vE6

Bendigo and Geelong star performers in otherwise mixed bag for Victorian house prices: REIV

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The Australian housing market is not in a bubble, according to Sunrise breakfast host David Koch, who says the market will start to turn around once the economy picks up and investor confidence returns.
Koch says anyone following the property market might be left a little bit confused by “contradictory news headlines and expert opinions” but says the bottom line is that in the medium term, “the tough times for Australian property appear set to continue”.
He says “there’s no bubble to burst, but prices are unlikely to have increased of late either”.
“A sharp global economic downturn would ensure they stayed this way for a while yet,” Koch writes in a thought piece for Yahoo7 Finance.
“But once the green shoots of economic growth return, and with them increasing investor confidence, things should turn around.
“Further interest rate cuts, continued low unemployment, population growth and improving housing affordability will all help to support the house price growth when it happens.
“It’s just not happening yet,” he says.
Koch says while RP Data reported that Melbourne house prices rose 1% in June, there was also data released by SQM Research showing there are now a “whopping” 386,857 properties for sale across the country, up 6.4% from a year.
“All else equal, this points to softening prices”.
“Digging a bit further into the data reveals that Melbourne and Hobart in particular are facing tough times with 28% and 29% annual increases in stock levels respectively.
“Going back to Economics 101, the reports of increasing property prices in these supply flooded areas is a bit hard to fathom,” he says.
However, outside of Melbourne and Hobart, Koch says supply levels seem to be stabilising, although at a higher level.
“This should ensure prices remain subdued for a little while longer until interest rate relief entices a few more first-home buyers into the market and some more properties are cleared from the auctioneers’ books,” he says.
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No Australian housing bubble, but tough times ahead for property market: David Koch

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The easing of Sydney’s eastern suburbs rental price growth has escalated during winter.
There’s been an average increase of 2.66% amid rentals secured through rent roll of one of the eastern suburbs' leading agencies, BradfieldCleary.
“This indicates the rate of rent rises has slowed,” agency principal Bob Guth advised his landlords.
The agency publishes a table of re-let properties indicating the new rent and the old rent, albeit without any indication of the interim period.
On its latest list of 19 recent rentals, there were four properties where rents went backwards by very small increments and three where no adjustment to the recent was achieved.
“We noted in May that rents were continuing to rise as the average increase was 7.75%,” Guth says.
“In November 2011 we recorded re-let properties showing an average increase of 13.5% over the old rent,” he sats.
While noting the lower range had continued to move upwards, Guth concedes the slowing “was perhaps partly due to seasonal factors”.
“There is no doubt rent levels in the executive class – above $1,500 per week – have slipped over the last 12 months,” Guth says.
The July list indicated rental properties relet within a range of -4.5% in Darling Point to +12.5% for a Paddington terrace.
The <a target="_blank" href="https://bradfieldcleary.com.au/blogentry/15/bob-guth-s-weekly-realestatement">May list</a> ranged between +1.2% in Edgecliff to +30.7% in Elizabeth Bay.
<table border="1" cellspacing="0" cellpadding="0" width="416"><tbody>
<tr>
<td width="243" valign="top">
PROPERTY
 
</td>
<td width="104" valign="top">
$ PW NEW Rent – OLD RENT
</td>
<td width="68" valign="top">
% CHANGE
</td>
</tr>
<tr>
<td width="243" valign="top">
STEPHEN ST PADDINGTON (STUDIO APARTMENT)
</td>
<td width="104" valign="top">
290 - 280
</td>
<td width="68" valign="top">
+3.6 
</td>
</tr>
<tr>
<td width="243" valign="top">
ELIZABETH BAY RD ELIZABETH BAY (OLDER-STYLE 1 BR)
</td>
<td width="104" valign="top">
350 - 350 
</td>
<td width="68" valign="top">
0
</td>
</tr>
<tr>
<td width="243" valign="top">
DARLING POINT RD DARLING POINT (ULTRA MOD 1 BR)
</td>
<td width="104" valign="top">
420 - 440
</td>
<td width="68" valign="top">
-4.5
</td>
</tr>
<tr>
<td width="243" valign="top">
ETHAM AVE DARLING POINT (1 BR OLDER STYLE)
</td>
<td width="104" valign="top">
420 - 420 
</td>
<td width="68" valign="top">
0
</td>
</tr>
<tr>
<td width="243" valign="top">
BELLEVUE RD BELLEVUE HILL (1 BR PLUS SUNROOM)
</td>
<td width="104" valign="top">
440 - 440
</td>
<td width="68" valign="top">
0
</td>
</tr>
<tr>
<td width="243" valign="top">
EDGECLIFF RD EDGECLIFF (ART DECO 1 BR)
</td>
<td width="104" valign="top">
440 - 420
</td>
<td width="68" valign="top">
+4.7
</td>
</tr>
<tr>
<td width="243" valign="top">
ETHEL ST RANDWICK (RENOVATED 2 BR)
</td>
<td width="104" valign="top">
440 - 450
</td>
<td width="68" valign="top">
-2.2
</td>
</tr>
<tr>
<td width="243" valign="top">
EDGECLIFF RD EDGECLIFF (2 BR PLUS SUNROOM)
</td>
<td width="104" valign="top">
450 - 430
</td>
<td width="68" valign="top">
+4.6
</td>
</tr>
<tr>
<td width="243" valign="top">
NEW SOUTH HEAD RD DOUBLE BAY (1 BR PLUS STUDY)
</td>
<td width="104" valign="top">
475 - 470
</td>
<td width="68" valign="top">
+1
</td>
</tr>
<tr>
<td width="243" valign="top">
NEW SOUTH HEAD RD VAUCLUSE (RENOVATED 2 BR)
</td>
<td width="104" valign="top">
530 - 525
</td>
<td width="68" valign="top">
+1
</td>
</tr>
<tr>
<td width="243" valign="top">
COURT RD DOUBLE BAY (2 BR WITH SECURITY)
</td>
<td width="104" valign="top">
550 - 530
</td>
<td width="68" valign="top">
+3.8
</td>
</tr>
<tr>
<td width="243" valign="top">
GREENOAKS AVE DOUBLE BAY (2 BR ART DECO)
</td>
<td width="104" valign="top">
560 - 550
</td>
<td width="68" valign="top">
+1.8
</td>
</tr>
<tr>
<td width="243" valign="top">
KENSINGTON RD KENSINGTON (OLDER STYLE 2 BR SEMI)
</td>
<td width="104" valign="top">
565 - 575
</td>
<td width="68" valign="top">
-1.3
</td>
</tr>
<tr>
<td width="243" valign="top">
WILLIAM ST DOUBLE BAY (2 BR ART DECO UNIT)
</td>
<td width="104" valign="top">
595 - 570
</td>
<td width="68" valign="top">
+4.4
</td>
</tr>
<tr>
<td width="243" valign="top">
ALBION ST PADDINGTON (2 BR TERRACE)
</td>
<td width="104" valign="top">
675 - 600
</td>
<td width="68" valign="top">
+12.5
</td>
</tr>
<tr>
<td width="243" valign="top">
MACLEAY ST POTTS POINT (2 BR ART DECO WITH VIEWS)
</td>
<td width="104" valign="top">
900 - 860
</td>
<td width="68" valign="top">
+4.7
</td>
</tr>
<tr>
<td width="243" valign="top">
EDGECLIFF RD EDGECLIFF (3 BR ART DECO)
</td>
<td width="104" valign="top">
930 - 900
</td>
<td width="68" valign="top">
+3.3
</td>
</tr>
<tr>
<td width="243" valign="top">
BLAIR ST NORTH BONDI (3 BR TOWNHOUSE)
</td>
<td width="104" valign="top">
1050 - 980
</td>
<td width="68" valign="top">
+7.1
</td>
</tr>
<tr>
<td width="243" valign="top">
DOVER RD ROSE BAY (3 BR PENTHOUSE)
</td>
<td width="104" valign="top">
1150- 1158
</td>
<td width="68" valign="top">
-0.7
</td>
</tr>
<tr>
<td width="243" valign="top">
AVERAGE
</td>
<td width="104" valign="top">
 
</td>
<td width="68" valign="top">
2.66%
</td>
</tr>
</tbody></table>
 
<div align="center"></div>
</body></html>

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