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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The inner-Brisbane suburb to Teneriffe is the most crowded suburb in Queensland, according to RP Data. The suburb, which covers less than a square kilometre, has 4,699 people or a density of 6,518 people per square kilometre.
The office-dominated Brisbane City has the lowest population density in Brisbane, at a roomy 3,965 people per square kilometre.
Mermaid Beach is shown to have the highest population density on the Gold Coast, at 3,743 people per square kilometre, but the figures are based on permanent residents. As other areas of the Gold Coast have more temporary residents and are not reported in the statistics, Mermaid Beach with its single-familyhomes has come out ahead of more high-rise area.
"Mermaid Beach is mainly permanent and full of young children and families, that's why the figures there were the highest," property analyst Kerrie Young told the <a target="_blank" href="https://www.goldcoast.com.au/index">Gold Coast Bulletin.</a>
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/rpjuly25.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly25thum.gif"></a>
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/rpjuly26.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly26thumb.gif"></a>
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Teneriffe the most crowded Brisbane suburb, with Mermaid Beach taking the Gold Coast mantle: RP Data

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Can’t let the day pass without saying happy 4th of July to my American friends – goodonya guys, watch the hotdog intake!
Matusik Pulse polls have been a regular feature of our missives for some time now, and it seems that you – our faithful followers – really enjoy putting in your two-bob’s worth and finding out what others have to say.
Results and a new poll appear each Saturday on Matusik Missive, but not everyone gets the time to explore them; so for those who may have missed our weekend reads, here’s a replay of our last five polls:
Click to enlarge
<a href="/images/stories/2012/07/matujuly41.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly41thumb.jpg"></a>
Highlights:
Here’s what you said, in order –
<ol>
<li>Limited finance/low valuations</li>
<li>High taxes and charges</li>
<li>Job insecurity</li>
<li>Lack of demand</li>
<li>Poor capital growth/limited rental return</li>
<li>Developers will not discount/meet the market</li>
<li>Interest rates too high</li>
</ol>Read <a target="_blank" href="https://www.propertyobserver.com.au/queensland/marketing-costs-dont-reflect-a-propertys-value-and-queenslands-form-27c-is-a-joke-michael-matusik/2012051554712">here</a> and <a target="_blank" href="https://www.propertyobserver.com.au/residential/property-valuation-101/2012022153484">here</a> for some thoughts on valuations – and <a target="_blank" href="https://www.propertyobserver.com.au/tax/queensland-needs-stamp-duty-reductions-to-level-the-playing-field/2012022853606">here</a> to see what we said about Australia’s high property taxes. Click to enlarge
<a href="/images/stories/2012/07/matujuly42.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly42thumb.jpg"></a>
Highlights:
The majority would get rid of the media room.  Very few would be willing to reduce storage space, hallways and entry points or size of the kitchen. One in five do not think our houses are too big.
Revisit <a target="_blank" href="https://www.propertyobserver.com.au/trends/sp-moodys-and-fitch-self-serving-attention-grabbing-vacuum-heads-michael-matusik/2012060555002">this post</a> for some interesting replies to house sizes.
<a href="/images/stories/2012/07/matujuly43.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly43thumb.jpg"></a>
Highlights:
Here’s how you responded, in order -
<ol start="1">
<li>2 bed apartment Chermside (10 kms of CBD)</li>
<li>1 bed apartment Albion (5 kms of CBD)</li>
<li>4 bed house Northlakes (25kms of CBD)</li>
<li>3 bed townhouse Carseldine (15 kms of CBD)</li>
<li>1 bed CBD apartment</li>
</ol>
<a href="/images/stories/2012/07/matujuly44.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly44thumb.jpg"></a>
Highlights:
You responded, in order -
<ol>
<li>Media</li>
<li>Federal election</li>
<li>World economic outlook</li>
<li>Interest rates/finance availability</li>
<li>Local economy</li>
<li>Property valuations</li>
<li>Amount of resale stock for sale</li>
</ol>
The tangibles – our local economy, property valuations, stock on the market, and even interest rates and availability of finance – are perceived to have little influence on the market.
Yet the media and the seemingly interminable wait for a federal election do.  That says a lot about the influence of negative reporting in my book.  Confidence is what is needed.  <a href="https://www.propertyobserver.com.au/trends/good-news-for-australian-property-but-were-too-gloomy-to-enjoy-it-michael-matusik/2012062455246" target="_blank">Click here</a> to read my full comment on this poll. Highlights:
You responded in order -
<ol>
<li>Land supply</li>
<li>Smaller product &amp; land size</li>
<li>Faster approvals</li>
<li>Lower interest rates</li>
<li>Smarter building practices/materials</li>
<li>Government grants</li>
</ol>Revisit <a target="_blank" href="https://matusikmissive.wordpress.com/2009/11/11/home-ownership/">here</a> and <a target="_blank" href="https://www.propertyobserver.com.au/residential/government-handouts-can-be-misguided-and-misdirected-michael-matusik/2012062855335">here</a> to read why grants and the like do more harm than good. Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Readers can follow <a target="_blank" href="https://www.matusikmissive.wordpress.com%20">Michael's blog</a> or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> – five tweets a day, some of which are on the property market.
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What is stopping residential property sales: Michael Matusik

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Last night’s rise in the Australian dollar against the greenback, at a time when commodities were easing and the American dollar was rising, delivers us a series of important messages.
And those messages will have particular significance to the property market and may help explain the strange goings on behind David Jones' recent suitor.
We all understand that we are attracting a share of the safe haven money that wants lesser exposure to the euro and usually already has over-exposure to the US dollar. That safe haven money is being boosted by the fact that Australian interest rates are higher than the US.
Of course it is dangerous money, because if we encounter a significant fall in mineral prices it would flee the country, causing considerable disruption to our banking system and pulling down the dollar.
Of more long-term significance is the fact the stable dollar is contributing to a boost in overseas interest in our residential and commercial property markets. Australia’s largest apartment developer, Harry Triguboff, says that the strong buying by the Chinese (<a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/building-construction-property-banks-lending-China-pd20120418-TFSTQ?opendocument">The Bondi house that China built</a>, April 18) is being multiplied by interest from the Middle East, India and other parts of Asia. Inner-city areas are attracting the most attention, although in Melbourne's inner-city apartments there appears to be over supply.
Over the weekend a friend of mine was trying to buy a house worth just under $2 million in Brisbane. A Singapore investor flew over and paid what was required. The house had been in the market for two months and had failed to sell at an earlier auction. The money flow is increasing.
The residential buying tends to boost the value of inner-city apartments and houses. It is also pushing Australian family buyers into outer suburbs. Apartment developers like Harry Triguboff want the planning, zoning and other rules eased to lift the supply of Sydney inner-city apartments to cater for the demand.
The overseas property buying is locked in here so this form of 'safe haven' buying is different to the interest bearing securities slush money coming out here. But property buying raises more controversy.
Almost certainly the overseas buying will spread to areas of the commercial market, which have a far wider array of products than the inner-city residential markets.
And so we are going to see strange events take place as overseas investment houses test whether property is available and then try to match that property against the desires of their buyers. When prominent public companies like David Jones become involved in these exploration adventures it can be very disturbing to the stock market. Insider trading allegations will become part of the story.
Switzerland will warn us that if you are a safe haven currency for a long period of time few young people can be employed in export industries. Switzerland is priced out of the market.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>. 
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Stable Australian dollar contributing to a boost in Australian residential and commercial property: Gottliebsen

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<img src="/images/stories/2012/07/3point7percent.gif">
The median rental yield for houses in Melbourne in June, according to RP Data.
<hr>
<img src="/images/stories/2012/07/4point3percent.gif">
The median rental yield for houses in Adelaide, in June, according to RP Data.
 
<hr>
<img src="/images/stories/2012/07/4point4percent.gif">
The median rental yield for houses in Sydney in June, according to RP Data.
 
<hr>
 
<img src="/images/stories/2012/07/4point4percent.gif">
The median rental yield for houses in Perth in June, according to RP Data.
<hr>
<img src="/images/stories/2012/07/4point6percent.gif">
The median rental yield for houses in Brisbane in June, according to RP Data.
<hr>
 
<img src="/images/stories/2012/07/4point6percent.gif">
The median rental yield for houses in Canberra in June, according to RP Data.
 
<hr>
<img src="/images/stories/2012/07/5point1percent.gif">
The median rental yield for houses in Hobart in June, according to RP Data.
 
<hr>
 
<img src="/images/stories/2012/07/6point1percent.gif">
The median rental yield for houses in Darwin in June, according to RP Data.
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Capital city house yield by the numbers, with Melbourne landlords securing the lowest return: RP Data

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A 125-year-old former bank in Maitland NSW has sold after four years on the market at $1.25 million.
Built in 1887 at a cost of £20,000, the three-storey, former CBC bank was designed by George Allen Mansfield in the Italianate Classical Revival style, and the property bears his name.
The heritage-listed property is one of 53 buildings he designed for Commercial Banking of Sydney Ltd.
From 1888 to 1990 Mansfield was used exclusively as banking chambers by CBC Bank and later NAB.
A local citizen bought the property in 1990 and for eight years the ground floor remained vacant and boarded up, while the upper floors were intermittently leased out as office space, according to Heritage NSW documents.
<img src="/images/stories/maitland1.jpg">
Heritage NSW says this had the fortuitous effect of preserving the internal architecture of the original banking chambers.
The current owners, John and Barbara Murphy, bought the property in 1998 for $350,000.
They immediately set about restoring the property to set up a function centre and bed and breakfast business.
The sandstone building features terrazzo chequer-tile flooring, ornate cedar polished doors and windows, two large Doric marble columns, two large granite fireplaces, original embossed plaster ceilings, a wide cedar staircase and sandstone-arched windows.
<img src="/images/stories/maitland2.jpg">
A large amount of cedar wood was used in the construction, which was sourced from the nearby Paterson township in the 1880s.
While on the market the building has continued to operate as a $500 a night function centre with its grand foyer, function rooms, dining room, bar, former kitchen area and cool room. The main function room has seven-metre ceilings.
Upstairs the building has been used as a residence. Over the two upper floors there are 10 bedrooms, multiple bathrooms and kitchen facilities.
<img src="/images/stories/maitland3.jpg">
The property sits on 1,909 square metres and has a landscaped courtyard garden.
John Laws reportedly started his radio career here, when the top floor was used as a broadcasting room, according to former employee Ian S. Watts.
Watts says the bank was robbed in 1983 by two men who hid in the bank overnight. In the morning staff were bound and gagged and threatened with sawn-off shotguns.
Maitland was started as three separate settlements West Maitland, Morpeth and East Maitland which were amalgamated into the City of Maitland in 1945
Until the late 1800s Maitland was the predominant commercial and economic hub of the Hunter Valley, outstripping the penal settlement of Newcastle.
Agent Michael Maffey from Tony Cant Real Estate Maitland sold the property in April. The last asking price was $1.9 million plus, with the asking price having steadily decreased from $2.4 million in 2008.
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Century-old former Maitland bank finally finds buyer after four years on the market

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Lawyers representing WA couple Hugh Wilson and Marilee Coombs have confirmed that they have resolved their dispute with Brisbane-based The Investors Club over a Gold Coast apartment they purchased with the help of the property investment club in 2007.
The dispute was due to be heard in a Perth court later this year after two previous attempts at mediation between the parties failed.
A spokesperson for law firm Slater and Gordon, which represented Wilson and Coombs, says the terms of the resolution are confidential.
Coombs and Wilson launched a claim against The Investors Club and two staff members in August last year alleging they had been advised to purchase a three-bedroom bushland house in Highland Park on the Gold Coast that they later claim was grossly overpriced.
The property reputedly cost $630,000 when the couple bought it in 2007, though official records show a public sale price of $905,000.
The Investors Club also negotiated a $60,000 discount for the couple on the sale price.
After the couple purchased the property they say an independent valuation revealed the unit was worth as little as $450,000 at the time of the deal.
The townhouse was sold by Matthew Mariconte, principal of Champions Property Sales, for $391,000 on October 24 last year.
The Investors Club denied the allegations and blamed the fall in value of the townhouse on the effects of the GFC.
Founder of The Investors Club Kevin Young told the Australian Financial Review it had found an “amicable solution” to its dispute with Wilson and Coombs.
As part of the resolution to proceedings Wilson and Coombs issued a statement to The Investors Club.
The statement reads: “We acknowledge that at all times The Investors Club were honest and genuine in their dealings with us.”
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Investors Club reaches confidential resolution with former clients over Gold Coast apartment purchase

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The two most expensive sales of the week were whole-floor units in the same building in Queensland’s Kangaroo Point.

The 15-level 1 Scott Street building sits on the south bank of the Brisbane River near the Story Bridge. The fifth-storey apartment (pictured above) sold for $4.13 million, and the 10th-storey apartment (pictured below) sold for $4.62 million.

The near-identical apartments sold on the day the tender closed. They were bought by locally based owner-occupiers. The project approval was secured by the Brisbane developers Waterford Properties with a design by architects Jackson Teece and construction by Hutchinson Builders.

Agent Denise Gustafson from Style Estate Agents says there are no more apartments left in the 2011-built building, with all 12 selling for between $4 million and $8 million.

The apartments were held off the market last year to see if the economy improved. Gustafon says this year there has been a campaign with two tenders every five weeks.

The apartments are both 432 square metres, including a 116-square-metre balcony.

NSW dominated the rest of this week’s 10 most expensive property sales, taking six spots on RPData’s list.

Four-bedroom houses featured strongly on the list, accounting for five of the sales. The remaining positions were taken by a three bedroom unit, a three bedroom house and a five bedroom house.

All of the properties sold for more than $2 million, with four of the 10 sold at auction.

1. 110/1 Scott Street, Kangaroo Point, QLD, 4169, three-bedroom unit, sold on June 29 by Style Estate Agents Brisbane for $4,62,381

2. 105/1 Scott Street, Kangaroo Point, QLD, 4169, three-bedroom unit, sold on June 29 by Style Estate Agents Brisbane for $4.13 million

3. <a href="https://www.myrp.com.au/n/143-seaforth-crescent-seaforth-nsw-2092/myrp-490?propertyId=6144382">143 Seaforth Crescent, Seaforth, NSW, 2092</a>, four-bedroom house, sold on June 28 by Richardson &amp; Wrench Seaforth for $3.4 million

4. <a href="https://www.myrp.com.au/n/63-govett-street-randwick-nsw-2031/myrp-490?propertyId=5754488">63 Govett Street, Randwick, NSW, 2031</a>, four-bedroom house, sold at auction on June 30 by McGrath Estate Agents for $2,605,000

5. <a href="https://www.myrp.com.au/n/86-ellery-parade-seaforth-nsw-2092/myrp-490?propertyId=6140389">86 Ellery Parade, Seaforth, NSW, 2092</a>, five-bedroom house, sold at auction on June 28 by Belle Property Manly for $2.465 million

6. <a href="https://www.myrp.com.au/n/1-bulkara-road-bellevue-hill-nsw-2023/myrp-490?propertyId=1368562">1 Bulkara road, Bellevue Hill, NSW, 2023</a>, four-bedroom house, sold at auction on June 28 by Elders Real Estate Double Bay for $2.3 million

7. 5/17 Greenoaks Avenue, Darling Point, NSW, 2027, three-bedroom unit, sold on June 27 by 1St City Hasemer + Caldwell Eyles for $2.25 million

8. <a href="https://www.myrp.com.au/n/3a-walter-street-claremont-wa-6010/myrp-490?propertyId=11864322">3A Walter Street, Claremont, WA, 6010</a>, four-bedroom house, sold on June 26 by Paxton Hoad for $2.175 million

9. <a href="https://www.myrp.com.au/n/52-wolseley-road-mosman-nsw-2088/myrp-490?propertyId=4512487">52 Wolseley Road, Mosman, NSW, 2088</a>, three-bedroom house, sold prior to auction on June 28 by L J Hooker Mosman for $2.15 million

10. <a href="https://www.myrp.com.au/n/23-elizabeth-street-elsternwick-vic-3185/myrp-490?propertyId=10894555">23 Elizabeth Street, Elsternwick, VIC, 3185</a>, four-bedroom house, sold at auction on June 30 by Biggin &amp; Scott Real Estate Elsternwick for $2,101,000

 

More apartments in Brisbane you may like

[smartcode_project:default project_id=90553]

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Two whole-floor Brisbane apartments the most expensive sales of the week: RP Data

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The 1% rise in capital city house prices in June as recorded by RP Data-Rismark has coincided with an improvement in confidence among home buyers and investors, according to Yellow Brick Road executive chairman Mark Bouris.
Bouris says the positive housing data “signals the light at the end of the tunnel for home owners and property investors”.
Bouris says Yellow Brick Road has seen an increase in consumer enquiry specifically around refinancing and financial planning, “as people have begun to wake up and take their financial matters into their own hands”.
<a href="https://www.propertyobserver.com.au/australian-capital-territory/refinancing-borrowers-take-advantage-of-competitive-market-in-june-afg/2012070255377" target="_blank">Over June mortgage broker AFG</a> recorded an increase in refinancing to nearly two out of every five mortgages arranged by its loan writers as well as a drop in fixed-rate mortgage demand as borrowers anticipate further rate cuts.
“The 55-basis-point reduction in the average discounted home loan rate over May and June means that refinancing is becoming increasingly competitive, with lenders vying for business and consumers becoming more active in finding the best possible mortgage rate,” says Bouris.
“Average monthly home loan repayments can differ by over $100 per month between the major four banks and non-bank lenders such as Yellow Brick Road, which shows how much savings there are to be had by shopping around,” he says.
Bouris claims people now have a better understanding of market volatility and have turned to more conservative investment opportunities that will offer a steady return without as much risk.
Bouris says there has been “a massive uptake of Yellow Brick Road savings products among first-time home buyers and people looking to invest in high-yielding, conservative assets.
“Consumers know that there’s a lot of volatility in the share market and many simply don’t want to get in over their heads. On a positive front, the current economic environment has taught people to be more cautious, which will hopefully assist in preventing mortgage arrears and business bankruptcies in the long term,” he says.
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Rise in property prices coinciding with more confident home buyers and investors: Mark Bouris

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Can commercial property investors continue to rely on the government? Yes, but probably less than previously — due to both the state and the federal austerity measures currently being implemented.
Some of the recently announced public service layoffs will remove the "automatic" component of government take-up from the CBD office demand equation. But that's not altogether a bad thing.
It simply means that more major development activity going forward will be by pre-commitment, rather than wishful speculation.
This is already being evidenced in Brisbane, where Campbell Newman is planning to relocate his public service requirements to the waterfront. And likewise in Perth, the state government is also looking to decant some of its CBD office needs to the suburbs.
Right around Australia, all levels of government are now seriously reviewing their accommodation requirements and how effectively they use their current office space.
Who occupies what?
Click to enlarge
<a href="/images/stories/2012/07/langjuly3.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/langjuly3thumb.jpg"></a>
According to a recent report by Colliers, government occupies about 25% of all CBD space across Australia. And as you can readily see from the graphic above, Canberra and Brisbane clearly exceed the level.
Melbourne has a fairly balanced "wheel" and also one of the lowest exposures.
Last year, Canberra's overall office vacancy level fell from 13% to 10.8% — which is nothing to really brag about. And the planned staff cut-backs will not help improve that situation.
Slow to change
While governments of all levels may have announced plans to rationalise the CBD office needs, they are renowned for moving slowly, with their implementation. And historically, whole floors have often simply remained vacant following previous staff cuts.
Furthermore, government tendencies have struggled to meet the private-sector workspace ratio of 10 to 12 square metres per person. Instead, most fall within the 15 to 20 square metre range, but some state government tenancies actually exceed that.
Bottom line: While government cut-backs may initially cause some concern for some CBD office landlords, the vacant space should be readily absorbed as the economy expands.
However, the real beneficiary will be suburban office markets — as government tenants seek modern space and a lower rent profile.
Therefore, as an owner of suburban office space you will begin to see a new large player entering the tenancy market. This will help to drive rents up — while still providing government with a lower overall rental bill.
As such, this provides you with a real opportunity underpinned by solid demand.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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What government cutbacks mean for commercial property investors

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Where can you find the most people packed into one suburb?  According to the latest census data, look no further than the inner-Sydney suburb of Elizabeth Bay.  This suburb covers about one quarter of a square kilometre of prime inner-Sydney real estate and, according to the latest census figures, is home to 5,093 persons, which works out to be about two persons per 100 square metres of land.  The second most densely populated suburb in the country is right next door at Rushcutters Bay, with a comparatively sparse population density of 1.5 persons per 100 square metres.
Nineteen of Australia’s top 20 most densely populated suburbs are located in Sydney.  The one exception is Melbourne’s Southbank, which ranks at number 19 in the population density stakes.
The table below shows the top 20 suburbs across Australia based on the highest population density on a rate per square kilometre:
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<a rel="shadowbox" href="/images/stories/2012/07/rpjuly2.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly2thumb.gif"></a>
Interestingly, third on the top 20 list is the comparatively outer-lying suburb of Wentworth Point, which is located on the Parramatta River about 16 kilometres from the Sydney CBD.  The suburb was gazetted in 2009 and was previously part of the suburb of Homebush.  Having such a high population density outside of the inner city is quite uncommon for an Australian city (particularly outside of Sydney), however, as urban renewal projects and brownfield developments spread further away from the city centres, a greater level of population density in the middle-ring suburbs is likely to become more common.
The spatial patterns of population density are generally centric to the inner city and follow the path of key transport infrastructure.  The trend is quite clear on the thematic maps below, which include a one-kilometre train station buffers overlay.  It makes sense that higher population densities will follow the established transport corridors; land along these routes is generally zoned for higher densities.  As transit-oriented developments continue to gather pace I am quite certain we will see higher population densities spreading to key transport nodes located further away from the city centres.
Sydney
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<a rel="shadowbox" href="/images/stories/2012/07/rpjuly21.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly21thumb.gif"></a>
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<a rel="shadowbox" href="/images/stories/2012/07/rpjuly22.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly22thumb.gif"></a>
Melbourne
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<a rel="shadowbox" href="/images/stories/2012/07/rpjuly23.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly23thumb.gif"></a>
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<a rel="shadowbox" href="/images/stories/2012/07/rpjuly24.gif" title="Click to enlarge"><img src="/images/stories/2012/07/rpjuly24thumb.gif"></a>
Photograph of Elizabeth Bay courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>
Tim Lawless is national research director of <a target="_blank" href="https://www.myrp.com.au/">RP Data.</a>
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