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

cknowlton-QnEa6ntUYP

Melbourne house prices – how your suburb went in the 2012 June quarter: REIV

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Median prices rebounded in the June quarter assisted by limited top-end Melbourne house activity, but still remain 5.3% lower annually, according to the Real Estate Institute of Victoria.

Reversing a trend of the past year, top-end Melbourne house prices rebounded 6.7% in the June quarter, according to the REIV. 
Overall, Melbourne house prices rose 2.9% to a median of $535,000 in the June quarter, with the lowest-priced quartile rising 2.6%.
Median prices sit at 5.3% lower over the year.
In the year to March, <a href="https://www.propertyobserver.com.au/victoria/victorian-median-house-prices-and-quarterly-and-annual-changes-reiv/2012041354262" target="_blank">house prices fell furthest in more affluent suburbs</a>, but in the June quarter house prices in the priciest 5th percentile rose from a median price of $1,406,500 to a median of $1,500,250.
This trend was reversed for unit prices, with prices for the most expensive units (those in the 95th percentile) falling an average of 3.3%, from a median of $950,900 to $920,000.
The REIV chief Enzo Raimondo said that a combination of broader economic factors, slowing population growth and continuing low levels of consumer confidence had resulted in no real capital growth in the residential market over the past year. 
But the REIV chief Enzo Raimondo noted while the overall median price had fallen 5.3% over the past 12 months the overall median had not changed in the past six months.
“Both buyers and sellers are approaching the market in a conservative manner. This is translating into a lower number of sales than is present in a strong market and as a result, no real price growth has been recorded.
“The real estate market moves in cycles and, after the initial price falls in 2011, it is now in a period of stability marked by low activity.
Raimondo noted the median price had fallen 5.3% over the past 12 months but the overall median had not changed in the past six months.
The affluent suburb of East Melbourne had Melbourne's greatest increase in unit prices during the June 2012 quarter, according to the Real Estate Institute of Victoria and Toorak had the highest house price growth.
But agents caution that it's not likely that the approximnate 50% hikes in their median represented an actual shift in prices, but rather the predominance of pricey sales within the fewer than 30 actual sales.
It more likely reflected the dominence of a particular pricey market segment or even new development amid limited sales activity, rather than a dramatic price shift.
in the median represented an actual shift in prices, but rather the predominance of pricey unit sales within the fewer than 30 actual sales. The same goes with significant downwards shifts, which again reflect the dominence of a particular market segment amid limited sales activity, rather than a dramatic price shift.
Regional dwelling prices slid in the June quarter. At the same time last year <a href="https://www.propertyobserver.com.au/victoria/victorian-regional-centres-outperforming-melbourne-reiv/2011072550898" target="_blank">regional Victorian suburbs outperformed their Melbourne peers</a>, but after a <a href="https://www.propertyobserver.com.au/victoria/regional-victorian-property-prices-going-nowhere/2012042654439" target="_blank">flat March quarter</a> regional house and unit prices fell in the June quarter. 
Regional Victorian house prices fell an average of 1.6% in the June quarter, with unit prices faring even worse, with a 4.5% fall. 
Melbourne 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="73" nowrap valign="top">
House Prices
</td>
<td width="77" valign="top">
Jun-12 Q
</td>
<td width="62" valign="top">
% chg to last q
</td>
<td width="84" valign="top">
Mar-12 Q
</td>
<td width="50" valign="top">
% chg to q last year
</td>
<td width="84" valign="top">
Jun-11 Q
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Lower Quartile
</td>
<td width="77" nowrap valign="top">
$400,000
</td>
<td width="62" nowrap valign="top">
2.6%
</td>
<td width="84" nowrap valign="top">
$390,051
</td>
<td width="50" nowrap valign="top">
-3.6%
</td>
<td width="84" nowrap valign="top">
$415,000
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Median
</td>
<td width="77" nowrap valign="top">
$535,000
</td>
<td width="62" nowrap valign="top">
2.9%
</td>
<td width="84" nowrap valign="top">
$520,000
</td>
<td width="50" nowrap valign="top">
-5.3%
</td>
<td width="84" nowrap valign="top">
$565,050
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
Upper Quartile
</td>
<td width="77" nowrap valign="top">
$750,000
</td>
<td width="62" nowrap valign="top">
2.7%
</td>
<td width="84" nowrap valign="top">
$730,000
</td>
<td width="50" nowrap valign="top">
-6.1%
</td>
<td width="84" nowrap valign="top">
$798,750
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
85th Percentile
</td>
<td width="77" nowrap valign="top">
$940,000
</td>
<td width="62" nowrap valign="top">
5.0%
</td>
<td width="84" nowrap valign="top">
$895,000
</td>
<td width="50" nowrap valign="top">
-4.2%
</td>
<td width="84" nowrap valign="top">
$981,650
</td>
</tr>
<tr>
<td width="73" nowrap valign="top">
95th Percentile
</td>
<td width="77" nowrap valign="top">
$1,500,250
</td>
<td width="62" nowrap valign="top">
6.7%
</td>
<td width="84" nowrap valign="top">
$1,406,500
</td>
<td width="50" nowrap valign="top">
-0.7%
</td>
<td width="84" nowrap valign="top">
$1,510,000
</td>
</tr>
</tbody></table>
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="75">
Unit Prices
</td>
<td valign="top" width="79">
Jun-12 Q
</td>
<td valign="top" width="74">
% chg to last q
</td>
<td valign="top" width="81">
Mar-12 Q
</td>
<td valign="top" width="59">
% chg to q last year
</td>
<td valign="top" width="81">
Jun-11 Q
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Lower Quartile
</td>
<td valign="top" nowrap width="79">
$357,500
</td>
<td valign="top" nowrap width="74">
2.1%
</td>
<td valign="top" nowrap width="81">
$350,000
</td>
<td valign="top" nowrap width="59">
-2.1%
</td>
<td valign="top" nowrap width="81">
$365,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Median
</td>
<td valign="top" nowrap width="79">
$450,000
</td>
<td valign="top" nowrap width="74">
1.9%
</td>
<td valign="top" nowrap width="81">
$441,500
</td>
<td valign="top" nowrap width="59">
-4.1%
</td>
<td valign="top" nowrap width="81">
$469,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
Upper Quartile
</td>
<td valign="top" nowrap width="79">
$580,000
</td>
<td valign="top" nowrap width="74">
-1.5%
</td>
<td valign="top" nowrap width="81">
$589,000
</td>
<td valign="top" nowrap width="59">
-4.9%
</td>
<td valign="top" nowrap width="81">
$610,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
85th Percentile
</td>
<td valign="top" nowrap width="79">
$680,000
</td>
<td valign="top" nowrap width="74">
-1.1%
</td>
<td valign="top" nowrap width="81">
$687,350
</td>
<td valign="top" nowrap width="59">
-4.9%
</td>
<td valign="top" nowrap width="81">
$715,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="75">
95th Percentile
</td>
<td valign="top" nowrap width="79">
$920,000
</td>
<td valign="top" nowrap width="74">
-3.3%
</td>
<td valign="top" nowrap width="81">
$950,900
</td>
<td valign="top" nowrap width="59">
-7.1%
</td>
<td valign="top" nowrap width="81">
$990,000
</td>
</tr>
</tbody></table>
 
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
Regional Victoria
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="64" nowrap valign="top">
House Prices
</td>
<td width="76" valign="top">
Jun-12 Q
</td>
<td width="44" valign="top">
% chg to last q
</td>
<td width="76" valign="top">
Mar-12 Q
</td>
<td width="70" valign="top">
% chg to q  last year
</td>
<td width="79" valign="top">
Jun-11 Q
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Lower Quartile
</td>
<td width="76" nowrap valign="top">
$231,000
</td>
<td width="44" nowrap valign="top">
 
</td>
<td width="76" nowrap valign="top">
 
</td>
<td width="70" nowrap valign="top">
 
</td>
<td width="79" nowrap valign="top">
 
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Median
</td>
<td width="76" nowrap valign="top">
$305,000
</td>
<td width="44" nowrap valign="top">
-1.6%
</td>
<td width="76" nowrap valign="top">
$310,000
</td>
<td width="70" nowrap valign="top">
-4.7%
</td>
<td width="79" nowrap valign="top">
$320,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="top">
Upper Quartile
</td>
<td width="76" nowrap valign="top">
$402,750
</td>
<td width="44" nowrap valign="top">
 
</td>
<td width="76" nowrap valign="top">
 
</td>
<td width="70" nowrap valign="top">
 
</td>
<td width="79" nowrap valign="top">
 
</td>
</tr>
</tbody></table>
 
  Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="67">
Unit Prices
</td>
<td valign="top" width="91">
Jun-12 Q
</td>
<td valign="top" width="72">
% chg to last q
</td>
<td valign="top" width="77">
Mar-12 Q
</td>
<td valign="top" width="80">
% chg to last year
</td>
<td valign="top" width="70">
Jun-11 Q
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Lower Quartile
</td>
<td valign="top" nowrap width="91">
$200,000
</td>
<td valign="top" nowrap width="72">
 
</td>
<td valign="top" nowrap width="77">
 
</td>
<td valign="top" nowrap width="80">
 
</td>
<td valign="top" nowrap width="70">
 
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Median
</td>
<td valign="top" nowrap width="91">
$247,250
</td>
<td valign="top" nowrap width="72">
-4.5%
</td>
<td valign="top" nowrap width="77">
$259,000
</td>
<td valign="top" nowrap width="80">
-1.1%
</td>
<td valign="top" nowrap width="70">
$250,000
</td>
</tr>
<tr>
<td valign="top" nowrap width="67">
Upper Quartile
</td>
<td valign="top" nowrap width="91">
$289,000
</td>
<td valign="top" nowrap width="72">
 
</td>
<td valign="top" nowrap width="77">
 
</td>
<td valign="top" nowrap width="80">
 
</td>
<td valign="top" nowrap width="70">
 
</td>
</tr>
</tbody></table>
 
 Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
 
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Surprise Melbourne median house price rebound - 2.9% in June quarter, with biggest growth in the top end: REIV

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Sydney’s beachside suburb Tamarama is now Australia’s most expensive suburb for real estate according to RP Data, after growing 38% in the past five years.
With a median house price of $4,337,500, the glitzy suburb has the highest median house price in Australia.
Affectionally known as Glamarama, the suburb also <a target="_blank" href="https://www.propertyobserver.com.au/residential/buyers-pay-a-high-premium-for-every-square-metre-of-inner-city-living-cameron-kusher/2012071154475">recorded the highest rate per square metre, at $11,449 with an average lot size of 379 square metres in a report prepared earlier this year by RP Data.</a>
Tamarama plucked the prime position in the median price list from Point Piper, which has now dropped off the list following a difficult time for high-end real estate.
RP Data’s Cameron Kusher says Tamarama’s limited supply of houses, many with ocean views, has led to the high median prices.
He says there have been recent introductions of more small lot housing, contributing to the higher rate per square metre.
The suburb is known as Sydney’s home of the rich and famous.
The suburb is also home to one of Australia’s oldest surf life-saving club, which claims to have never lost a life to the surf despite often treacherous conditions.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-tamarama-nsw-2026/142367">The four-bedroom hilltop property 29 Thompson Street</a> recently sold for $7.9 million after trading for $4 million in 2003. The 575-square-metre property was listed for 29 days. It was sold by McGrath agents Bethwyn Richards and Ben Collier.
The most recent sale listed on RP Data is the <a target="_blank" href="https://www.century21.com.au/property/57521/">three-bedroom 29 Tamarama Street</a>, which sold for $1.09 million. The 316-square-metre property last traded in 1987 for $120,000. It was sold by Century 21 agent Nicholas Armstrong-Smith.
One of the cheapest sales in Tamarama this year was the two-bedroom unit 13/3 Pacific Avenue, which sold for $880,000 through McGrath agent Simon Exleton.
Sydney has seven of the 10 most expensive suburbs in Australia, Perth has two and Melbourne has just one.
In second place was Perth’s Peppermint Grove at $3.4 million, followed by Sydney’s Bellevue Hill ($3.3 million), Vaucluse ($2.9 million), and Double Bay ($2.5 million), Melbourne’s Toorak ($2.5 million) and Perth’s Dalkeith ($2.2 million).
News Limited reports top-end suburbs including Woollahra, Balmain East and Neutral Bay in Sydney, Armadale in Melbourne and Newstead in Brisbane all slipped in the rankings, with falls in median property prices of up to 24% in the last 12 months.
In the $1 million-plus market, Point Piper had the worst falls, with median unit prices dropping 41% in the past year.
Recording the biggest growth in Australia for the year, Queensland’s mining town of Moranbah, 150 kilometres inland from Mackay, recorded a 46% highest increase in median house prices to $682,000.
North Booval, a suburb of Ipswich, Queensland, was the weakest performer for houses, with median price falls for the year of 44% to $154,000.
For apartments, Currumbin in the Gold Coast was the best performer, with a median price jump of 48% to $565,000.
The biggest fall for units was in central Queensland’s Lammermoor, with prices dropping 46% to $166,000.
House prices fell in all capital cities, led by 5.5% falls in Sydney, followed by 5.2% in Brisbane, 5% in Melbourne, 4.1% in Perth, 3.8% in Adelaide, 3.8% in Darwin, 1% in Hobart 0.9% in Canberra.
Units in Darwin and Canberra recorded the only increases during the year, with both recording increases of less than 1%.
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awalsh-7Ub9EypybQ

Tamarama shines as Australia’s most expensive property market as downturn costs Point Piper its crown: RP Data 

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The number of homes listed for sale in Melbourne has increased four times faster than the national average over the past year, according to figures from RP Data. 
For the year to July 8, Melbourne residential listings have risen 31.5%, compared with a combined 8.2% rise in the capital cities.
Click to enlarge
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It’s a similar picture statewide, with Victorian residential listings increasing by 33.2% over the year to July 8 to 70,124 while nationally they have risen 9.6% to 301,414
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The RP Data figures break down listings into new listings (those 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 Victorian figures show that just 10,147 out of the 70,124 listings are new listings, compared with 9,572 out of 52,633 a year ago. 
In comparison NSW are up 9.6% for the year to 78,847 (11,535 are new listings), with a smaller 6.6% rise in Sydney. 
The issuance of the residential listing stats from RP Data and <a target="_blank" href="https://www.propertyobserver.com.au/residential/brisbane-and-perth-residential-stock-on-market-declining-while-sydney-static-and-melbourne-at-new-high-louis-christopher/2012071155535">SQM Research</a> within 10 days of each other invites comparison. 
The SQM Research figures calculate a total of 386,857, which is 85,443 more than the RP Data count. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-listings-jump-61-in-june-to-55293-sqm-capital-city-stock-on-market-report/2012070455437">SQM records a 28% rise in Melbourne listings to just over 52,000</a> but just a 1% rise in Sydney listings to 32,390. 
RP Data figures are based on a direct data feed from “Australia’s largest real estate portal” with duplicates removed and the data cleansed by being matched with the RP Data ownership database. 
Outside of Melbourne and Victoria, the RP Data figures show that more properties are being bought and sold in the mining states, with WA recording a 4.6% decline over the past year to 32,851. 
Perth residential listing are down more than 11% over the year, while they are down 3.5% in Brisbane and more than 14% in Darwin. 
Nationally, new listings have declined by has declined over the past year and are 4.6% lower at 42,473 (8% down across the combined capital cities) and 38.4% lower than the historic peak. 
According to RP Data new listings are currently at virtual record low levels, excluding the Christmas and New Year periods. 
“Lack of absorption appears to be the issue here,” says RP Data senior researcher Cameron Kusher. 
He says transaction volumes are tracking about 13% lower than what was recorded at the same time last year and adds that homes are taking longer to sell; both of these factors are contributing to the higher stock levels.
“An encouraging sign for the market is that conditions are improving with selling times trending shorter over 2012 as well as a subtle improvement in transaction volumes.
“The fact that new listings have also been diminishing is resulting in a reduced level of effective supply,” says Kusher.
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Melbourne residential property listings rising four times faster than national average: RP Data

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The Sandringham Hotel in Sydney is now in the control of receiver Ferrier Hodgson, which is looking to sell the pub immortalised by The Whitlams in the songs God Drinks at the Sando and Blow Up the Pokies.

The Whitlams started playing at The Sando, and Blow Up the Pokies referred to the decision by the pub's previous owner to replace the stage with gaming machines.

Tony Townsend, owner of The Sando, says the receivership was "all a bit of a surprise" after Bankwest called in a $3.2 million loan facility.

"We had only informed the bank the previous week that we thought we had a solution for refinancing that would take a week or two weeks to settle," says Townsend.

"On Monday I went to the bank to bank the weekend takings, I paid all our suppliers, and then I was on the phone to my broker about the refinancing when I got a call from downstairs to let me know that three suits were downstairs and they served me their notice."

Townsend says the appointment of receivers means refinancing is very unlikely, which is "very sad".

"The problem is The Sando is actually profitable but we were leveraged very high, we were around 65% when the bank called in its facility and instead of rolling the bill over they decided to call it in," he says.

Once Bankwest called in the facility, Townsend was given seven days to pay $3.2 million.

"After the global financial crisis all the loan-to-value ratios were lowered by the banks from 75% to now the standard is 65% to 50%, and we were well over that, so couldn't refinance in that time," Townsend says.

"Within four weeks of that notice we were then in breach and our interest rates went from $16,000 to $48,000 a month because of the penalties and it just became something we couldn't service.

"We were in a position where we could not even service the penalty interest."

Townsend says he tried to save the pub through a failed bid to sell the building and lease it back but he now owes Bankwest $3.65 million and is 12 months down the track with receivers in place and personal assets tied up.

"I spent way, way, way too much money trying to save the hotel," he says.

"Since the introduction of the smoking legislation there has been a heavy pounding on the hospitality industry."

The hotel was up for sale last year but failed to sell, according to pub website <a href="https://www.theshout.com.au/2012/07/11/article/Iconic-Sydney-pub-Sando-with-receivers/CXNUGHVMTE" target="_blank">TheShout.</a> 

The Sando underwent major renovations in recent years, according to TheShout.

Townsend says the receivership of The Sando is a symptom of the tough times the hospitality industry is experiencing, particularly in Sydney.

He points to <a href="https://www.smartcompany.com.au/leisure-and-gaming/20110121-pub-group-icon-hospitality-collapses-into-receivership">Icon Hospitality,</a> which went under, and Woolworths' application to the Australian Competition and Consumer Commission last week for approval to buy 30 hotels from another group.

"You have got those big corporations out there with propensity to buy those assets at fire sale prices," says Townsend.

"You look at the restaurant trade thinking about closing Sundays because it is too expensive, real estate and real estate owners are seeking more from their properties so rentals are going up, which is pushing the costs up while people are looking for a bargain," he says.

"The market is driving the prices down but the costs are going up. The taxation system hasn't helped hospitality either with the introduction of GST; we have become an enormous collector of GST."

Morgan Kelly, of Ferrier Hodgson, says the Sandringham Hotel business would continue to trade on an as-usual basis for the time being.

"I'm trying not to look like the fun police," he says.

"At the moment we are stabilising operations and continuing to operate in the ordinary course of business, including booking live bands."

Ferrier Hodgson has had a number of initial enquiries about sale but Kelly says it is very early days still.

"We need to think about how we are going to take it to the market. It has been on the market before over the last 12 months, so we need to assess what happened there and engage with agents who have previously been involved," he says.

Kelly says the intention is to continue to trade and provide a live music venue, although he concedes "what any purchaser does with it remains to be seen."

He says it is difficult at this stage to identify the cause of the administration.

"With live music you always run the risk of attracting the attention of the council for fines and that has been a problem for The Sandringham," Kelly says.

"That's certainly had an adverse impact on cashflow.

"We'll have a clear direction on the marketing strategy and campaign within the next two weeks."
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The Sando owner says recently renovated Sydney pub receivership due Bankwest, the council and 'the suits'

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Legendary American engineer Dr Simon Ramo wrote a book in 1970 about, of all things, tennis, titled Extraordinary Tennis for the Ordinary Player. 
The engineer in him noticed that the game of tennis involves two games – one is played at the professional level and the other is played at the weekend warrior level. 
Now, that's not particularly brilliant, but the conclusion he reached from his observation is. 
After extensive analysis, Ramo concluded that professional tennis players win points while amateur players lose points. 
In other words, for professionals, most points are won by the pro hitting a spectacular winning shot that is just out of reach of their opponent (a "winner's game"), while amateurs typically lose points by making an unforced error (a "loser's game"). 
In his blog, financial planner <a href="https://www.macleanfinancialgroup.com/new/MacLeanFinancialGroup/" target="_blank">Hawley MacLean explains</a> that noted investment analyst Charles Ellis, writing in a famous Financial Analysts Journal article from 1975, extended Ramo's tennis concept to the investment business. 
Ellis said investing had flipped from being a winner's game to a loser's game. 
He meant that to succeed at investing you need to focus on making fewer avoidable errors as opposed to making spectacular winning investments. 
Now making fewer avoidable errors is a worthy goal at any time, but it is critical in today’s turbulent markets.
The best way to explain this is that during property booms it’s easy to look smart – rising values cover up many mistakes. 
But now that our markets have been flat for some time, many investors who didn’t have a proven strategy are floundering and some have to sell their investments because, as they put it: “Property investing doesn’t work any more.”
 
That’s just confirmation of Warren Buffet’s famous saying: “When the tide is out you can see who is swimming naked.” 
Meanwhile, at the same stage of the cycle, those more strategic investors who understand the importance of correct timing, proper asset selection and smart financing using financial buffers to get through the lean years are still heading towards financial independence through smart property investing. 
These successful investors are not trying to get rich quick. Instead, they focus on making fewer avoidable errors by using proven, trusted property investment systems.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
For more advice on investing in property following times ot turmoil,<a target="_blank" href="http://propertyobserver.com.au/ebooks/investing-in-property-in-times-of-turmoil-free-ebook"> download our free eBook.</a>
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What tennis can teach us about successful property investing: Switch from a loser’s game to a winner’s game

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The total number of properties currently listed for rent across Australia’s capital cities increased 6.8% over the year ending July 8, according to RP Data’s Property Pulse. Including the rest of Australia, the increase was just 2.7%.
Across Australia, there are 44,347 properties newly listed for rent in the month ending July 8, up from 36,001 last year. The total number of rental listings is 90,235, up from 87,855.
At 12,807, Victoria has the most properties newly listed for rent of all capitals. The figure is up from 9,037 last year. The total number of properties listed for rent in Victoria is 29,173, up from 23,672 last year.
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Victoria was closely followed by New South Wales, which has 12,129 newly listed properties, up from 9,547 last year. That brings the total number of properties on the rental market in NSW to 23,254, up from 21,654 last year.
The number of rental properties in WA has dropped from 8,291 to 6,961 in the past year. There were 3,868 newly listed properties, slightly up from 3,634 last year.
The Northern Territory was the only state where new listings dropped. New listings are at 428, down from 446 last year. The total number of properties is now at 693, down from 998 last year.
New listings nearly doubled in the ACT, increasing from 236 to 466.
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Capital city rental residential stock up 6.8% in year to July: RP Data

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Sydney’s CBD off-the-plan luxury apartment prices have increased over the past year, according to Savills Research.
One-bedroom luxury apartment prices range from $11,538 per square metre to $15,385, averaging $13,462 per square metre, according to Savills head of residential Shayne Harris.
It was $10,000 to $13,350 a year ago, averaging $12,000.
Two-bedroom luxury apartments average $21,000 per square metre compared with $16,500 in the 2011 first quarter, and only a small change was notched in three-bedroom luxury prices, which now average $23,750 per square metre, compared with $23,350 a year ago.
Harris suggests that Sydney can be considered “fair value” in global prime residential property market comparisons, with room for growth in capital values.
“Sydney is beginning to display many of the common characteristics of a world-class city,” he says.
Over the past five years the City of Sydney recorded the highest rent prices across all metropolitan municipalities for both one- and two-bedroom units, with a median rent of $500 and $670 per week respectively.
Savills research suggest that luxury one- and two-bedroom units have asking rents between $650 and $1,800 per week. It was between $600 and $1,800 per week a year earlier in the first quarter of 2011, Harris notes.
The vacancy rate in the inner 10-kilometre circle of Sydney, based on Real Estate Institute of NSW data, remains low at 1.5%.
More than 10 kilometres out and it’s 1.9%.
Savills suggests low vacancy levels have been of benefit to investors, as they have enjoyed increased demand and consistent rentals.
“It is expected that these vacancy levels will remain low due to the continued disparity between the supply and demand of residential accommodation,” Savills says.
The municipality represents the largest unit rental market in NSW, with 30,000 landlords as of December 2011.
For more on Sydney's current state and future, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-sydney-embracing-the-world-of-tomorrow">Sydney: Embracing the world of tomorrow</a>
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Inner-Sydney off-the-plan luxury apartment prices rising as Sydney becoming a 'world-class city': Savills

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Talk often centres around Melbourne being an expensive city, and it is – make no mistake about it.
But how does Melbourne compare internationally?
We’ve analysed a number of Melbourne’s top suburbs to get an indicative price per square metre rate for property, and compared them to the world leaders across the globe.
For starters we’ve sourced the most expensive cities across the world to see how they compare. The top 10:
<ol>
<li>Monaco: $58,000 per square metre. This is world’s most expensive place. It helps when you don’t have to pay taxes!</li>
<li>London: $48,000 per sqm</li>
<li>Hong Kong: $45,000 per sqm (Houses only)</li>
<li>Geneva: $33,000 per sqm</li>
<li>Hong Kong: $27,000 per sqm(Apartments only)</li>
<li>Paris: $25,000 per sqm</li>
<li>Singapore: $24,000 per sqm</li>
<li>Moscow: $23,000 per sqm</li>
<li>Zurich: $23,000 per sqm</li>
<li>New York $21,500 per sqm (Apartments only)</li>
</ol>
(Data compiled for last quarter 2011)
We’ve used the average square metre price in Melbourne as our comparison point. We’ve also compared the most recent quarter prices and benchmarked them to houses only, so apartments have been excluded from the data.
So how do we compare for different suburbs? Here is an interesting selection:
• East Melbourne: $11,133 per sqm Melbourne’s highest-priced inner-city suburb, East Melbourne takes the cake.
• Carlton: $9,409 per sqm
• Fitzroy: $6,888 per sqm
• Brunswick: $3,380 per sqm (With 48 sales recorded, this was the largest data set collected for a suburb)
• Abbotsford: $6,785 per sqm
• Hawthorn: $3,443 per sqm (Suprising result)
• Albert Park: $8,181 per sqm
• North Melbourne: $7,230 per sqm
• West Melbourne: $4,986 per sqm
• Yarraville: $2,229 per sqm
• South Melbourne: $7,652 per sqm
Surprising outcomes were the low per square metre rate attributed to Hawthorn. Brunswick was the most accurate data example thanks to a pool of 48 transactions. The inner west showed the most favourable square metre rate, with Yarraville at just over $2,000 per square metre. West Melbourne was the most affordable suburb on the doorstep of the city.
Interesting takeaways are:
<ul>
<li>London is 21.5 times more expensive than Yarraville</li>
<li>Hong Kong is four times more expensive than East Melbourne</li>
<li>Monaco is 16 times more expensive than Hawthorn (When it comes to price per square metre of real estate)</li>
</ul>
Melbourne is an expensive city. However compared to world standards, Melbourne is still far behind the big cities (or tax havens) when it comes to price per square metre of land.
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Paul Osborne is the founder of Melbourne buyers' agency <a href="https://secretagent.com.au/" target="_blank">Secret Agent</a>.
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Yarraville, Hawthorn, even East Melbourne lag behind the world's big cities for residential property prices: Paul Osborne

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The percentage of first-home buyers purchasing off-the-plan units has increased since March this year, according to NAB's Residential Property Survey.
At the same time, the percentage of non-first-home owner-occupiers buying off the plan has decreased.
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