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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Be ready for a surge in new dwelling starts lead by New South Wales, Victoria and, of course, mining-boosted Western Australia. This revival will boost Australian economic numbers, which may delay further interest rate cuts.
When the figures are calculated we are going to see a big improvement in Australian housing affordability, which will underpin the housing resurgence. And in both NSW and Victoria state government actions will drive sales.
NSW is doubling its first-home buyers’ grant from October 1 and then dropping it 14 months later. It is also providing a grant for the purchase of properties under $650,000. From October these actions will boost the market – which means it will be wobbly for four months.
NSW is also taking steps to try and break the bureaucratic obstacles that curb development. My builder friends tell me the politicians are doing their best but currently there are too many bureaucrats standing in the way. Eventually the politicians will win, particularly as the size of the public service is being reduced.
Victoria is going the other way and will boost figures for the next six months. Victoria is going to end its first-home buyers’ grant on June 30 (the federal grant remains). That action is currently bringing forward a volley of new home buyers anxious to sign up by June 30. Victoria is also releasing new areas of land and it hopes the extra supply will keep land prices down to offset the withdrawal of the grant. I suspect that in 2013 the grant may need to be restored, but that’s down the track.
These grants come at a time when there has been a fall in land values, which increases affordability, and builders are presenting house-and-land packages with much smaller and cheaper houses than was the case a few years ago.
Add to these developments lower interest rates, and there is a big rise in affordability. Whereas the Australian mining and large construction industries have seen big rises in the cost of building, partly a result of bad management and union action, in home building the efficient independent contracting system has been very effective in maintaining and improving productivity rates so prices have not exploded. In some cases prices have fallen.
The non-mining Australia depends on both retail and housing activity. Retail is tough, but at least for the next year there will be a boost in housing.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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Improved affordability will underpin housing market resurgence: Gottliebsen

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The NSW state budget takes two steps forward and one step back on housing affordability.
Abolishing the first-home owners’ grant for existing properties is a positive move, because we know it simply helps to push up prices when supply is restricted. That $7,000 just goes straight into the pocket of the seller, not the home buyer.
Sydney clearly needs more new homes built, but unless the community can reach a consensus about how and where new development can take place, increased grants for new homes might not have any effect, or worse, simply push up prices for new homes as well.
It’s disappointing that there is no new money for affordable rental housing.
This budget does little for the 180,000 renters in New South Wales struggling with high housing costs, and actually cuts the number of people who will be assisted in the private rental market.
With some of the highest housing costs in the country, and more than 300,000 households in New South Wales under housing stress, the New South Wales budget falls well short of fixing this problem.
While it’s not quite shifting deck chairs on the Titanic, it’s awfully close to sewing cushions for the lifeboat.
Sarah Toohey is campaign manager of <a href="https://housingstressed.org.au/" target="_blank">Australians for Affordable Housing</a>.
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stoohey-Wf4skQJiAL

NSW state budget takes two steps forward and one step back

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So how can you tell if a market has turned the corner?
Market watchers will have their own theories on milestones that signal a change in the fortunes of the real estate market.  I, for one, think that Brisbane has turned a corner and is well-positioned on the property clock.
But why do I think this?  What measures am I using?  Well, here are my 10 market turn milestones.
<ol>
<li>Offers are made before a property goes “public”</li>
<li>Multiple offers are made – by different buyers – on the same property after listing</li>
<li>Properties start to sell above listed or reserve price</li>
<li>New properties start to sell above their resale value</li>
<li>Tightening vacancy rate and rising rents</li>
<li>The amount of established stock on the market falls</li>
<li>New housing supply falls below its long-term underlying demand</li>
<li>Job growth starts to accelerate</li>
<li>Sales volumes start to increase</li>
<li>The time resales remain on the market fall</li>
</ol>
Brisbane has nine out of 10.  Too early to call an upturn?  Maybe, but the signs are definitely there.  Of course, the proof in the pudding is a sustained rise in generic property prices.
Now, depending on which data set you believe, recent REIQ figures suggest that the Brisbane property market has turned that corner.  The median price in Brisbane rose 1.2% to $505,000 over the March quarter, according to the REIQ.
I have been helping a tradie mate to find a renovator’s delight somewhere across Brisbane’s inner- to middle-ring suburbs in recent weeks.  I am amazed at how quickly offers are being thrown at well-priced stock.  Many are received before the property hits the internet, the print media or even an agent’s window.  Properties are starting to sell before they even get officially listed.
This trend is also starting to happen in well-placed, well-designed and well-marketed new investment projects.  In inner Brisbane think Binary, Vivid and more recently Vine, to name a few.
According to Place advisory, there were 450 unconditional transactions during the first three months of this year – a historically quiet selling period – and this March quarter’s result was the strongest first quarter in over a decade.
And it appears to be going from strength to strength with Belise, in Bowen Hills, converting four out of every five walk-ins in recent months, with four sales alone last week, with another couple pending. Over 60 apartments have now sold in this proposed apartment complex since the beginning of the year.
According to Bees Nees City Realty, four out of their last five sales have had multiple offers submitted.  Other trusted realtors across the city are starting to report similar trends.
Also as I tweeted a few weeks back, I attended an auction run by Doug Disher Real Estate of a two-bedroom, unrenovated, post-war cottage in Brisbane’s St Lucia.  There were 17 registered bidders.  I mentioned to people present at the auction that it would sell for more than $725,000.  Many thought I was smoking something.  It sold under the hammer and in about ten minutes for $775,000, which was well above the reserve.
The timing of John McGrath’s arrival in Brisbane is no accident.  And Johnno is certainly no fool.
Brisbane’s vacancy rate now is just 1.5%, and rents rose by close to $20 across most residential rental properties across the city over the past 12 months.
The amount of resale stock on the Brisbane market has fallen by 8% since this time last year. And the city is undersupplied when it comes to new housing stock.  We are currently building about 90% of what we really need.
Of late, there has been much press about a pending oversupply of new apartments across inner Brisbane.  Now, while we have lots of new mooted apartment development, the fact remains that not enough new product is actually being built.  Over the last five years, for example, 13,000 new dwellings were required to accommodate the population growth, yet – based on the official statistics – just 8,017 new dwellings were approved.  Last year, just 1,902 new dwellings were approved.  At present there is a serious shortfall.
In addition, the latest ABS figures show that 22,000 full-time jobs were created across Queensland last year, and about half of them are in Brisbane.
Sales are now starting to improve, especially for apartment and townhouse stock, with sales up about 11% on last quarter.  Affordable apartment sales have lifted even further, up 22% in during the first part of this year.
What’s missing is a reduction in the time resale property remains on the market.
The average Brisbane resale property now takes 132 days (just over four months) to sell.  This is up from 105 days this time last year, or about a month longer (27 days).  However, this increase is in line with the Australian capital city average.
Now, why aren’t sales picking up or the time needed to sell falling?
For mine, most home buyers aren’t that confident.  While many that we speak to believe that the Brisbane market has bottomed, they can’t help being tempted to wait just in case prices fall a bit more.  On one hand, they want <a href="https://www.debtdeflation.com/blogs/" target="_blank">Steve Keen</a> to be kinda right, but on the other they believe in Michael Matusik, Terry Ryder, Michael Yardney et al.  So they are waiting in the wings, so to speak.
Also, another truism is that low offers are rare.  Yes, APM reports that the average private treaty discount for Brisbane is 8.5%, but experienced agents report that agreed contract prices average under 3% for well-priced property across Brisbane.
Buyers are reluctant to invest themselves emotionally (nor will they spend their time) on a property that is (in their minds) not realistically priced.  If a property is listed too high, buyers will simply move on to the next listing.  The internet allows this to happen with ease.
One of the real issues facing the Brisbane residential market (and elsewhere, too) is that too many sellers are unrealistic and also aren’t prepared to market their property properly.  Many should take their homes off the market or reduce their asking price.
Dropping the price can open up a strong market response, especially when the “market turned” signals are getting stronger.  Even in a buyer’s market, buyers will compete for a property they want, and price these days is a major part of that “want”.
And yet, in spite of an excellent position, good value for money and redevelopment potential, certain properties just aren’t selling. Curious, indeed.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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michaelmatusik-49YzLvdmNv

The 10 signs investors should watch for of property market recovery

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The top-end market was again somewhat subdued this week, with the exception of six-bedroom house in Bulimba, Queensland, that sold for $5.1 million. The Queen’s birthday long weekend may have deterred vendors of top-end property, as auction volumes and clearance rates were down across the country this week.
The 850-square-metre house at the top of the list last sold in 2007 for $2.85 million. Agent Sarah Hackett from Place Estate Agents says the house “exudes elegant simplicity in every aspect of its stunning design”. The riverfront home has 3.5-metre ceilings and, in good Queensland fashion, outdoor living has been catered for with outdoor heating and a built-in barbecue.
The next highest price achieved this week was $2,355,000 for a four-bedroom house in the Sydney suburb of Kensington. Only three of the top 10 sales of the week cracked $2 million.
Nine of the top 10 highest sales of the week were in New South Wales, with no Melbourne sales above $1,425,000.
1. 23 Waterline Crescent, Bulimba, Queensland, 4171, six-bedroom house, sold at auction on June 7 by Place Estate Agents-Bulimba for $5.1 million
2. 22 Virginia Street, Kensington, NSW, 2033, four-bedroom house, sold at auction on June 5 by Bradfield Cleary Real Estate for $2,355,000
3. 22 Beresford Road, Rose Bay, NSW, 2029, four-bedroom house, sold at auction on June 9 by McGrath Estate Agents for $2.21 million
4. 12 Chuter Street, McMahons Point, NSW, 2060, four-bedroom house, sold on June 5 by McGrath Estate Agents for $1.8 million
5. 3 Lentara Road, Bayview, NSW, 2104, four-bedroom house, sold before auction on June 9 by McGrath Estate Agents for $1.76 million
6. 5/412 Edgecliff Road, Woollahra, NSW, 2025, three-bedroom unit, sold at auction on June 9 by McGrath Estate Agents for $1,625,000
7. 61 Stafford Street, Paddington, NSW, 2021, three-bedroom house, sold on June 6 by Di Jones Real Estate for $1,550,000
8. 36 Langlee Avenue, Waverley, NSW, 2024, four-bedroom house, sold before auction on June 6 by Di Jones Real Estate for $1.53 million
9. 16/3 Wulumay Close, Rozelle, NSW, 2039, three-bedroom unit, sold on June 7 by Realty International Balmain for $1,465,000
10. 3 Leonard Avenue, Kingsford, NSW, 2032, three-bedroom house, sold at auction on June 9 by N G Farah for $1,425,000
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cknowlton-QnEa6ntUYP

With exception of $5.1 million Queensland property, no other $3 million-plus sales this week: RP Data 

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The NSW budget failed to respond to the real challenges facing the market, according to the Real Estate Institute of NSW president Christian Payne, as it left the bulk of the property market “out in the cold”.
“The absence of stamp duty reform, the lack of incentives for purchasers and sellers of existing property and the failure to kick start the investment sector are real failings of today’s budget,” Payne says.
“While the first-home buyer is an important part of the market, the fact is that the vast bulk of all residential property transactions are for existing dwellings.
“Purchasers and vendors of those [existing] properties have simply been left out in the cold,” he says noting the $7000 First Home Owner Grant - in operation since 2000 and available for both new and exisiting purchases - will soon cease to exist to be replaced by a $5000 grant for new homes only.
“The budget has failed to respond to the real challenges facing the market,” Payne says.
“What we needed to see today was the state government doing its part to back up the Reserve Bank’s heavy lifting in cutting interest rates to reinvigorate a flagging market.
“Unfortunately that did not occur,” he says.
“Given the growing storm clouds over the international economy and an already underperforming property sector, today’s budget was the opportunity for the government to take decisive steps to stimulate the market.”
"Think new," was the response of the Treasurer Mike Baird when asked what he would say to those who could soon miss out on any government assistance.
"This is a fantastic day for you - there is an opportunity to get into a housing market like never before," he told the post-budget press conference.
"The generosity we're providing in terms of the first home buyers grant together with the stamp duty concessions, says to the first home buyers 'Think new'," 7 News reported.
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jchancellor-FAypfDUnLy

Most NSW home buyers and sellers ‘out in the cold’ after budget: REINSW

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NSW investors have a deadline, which includes an interesting long-term punt on the price direction of property over the next year or two.
For the next 18 days they have a zero stamp duty option – and the potential saving of $22,490 through the NSW home builders' bonus.
It’s available if investor buyers put a deposit down for an off-the-plan purchase or new house costing less than $600,000.
But from July 1, 2012, the best deal for government grants will be a fixed $5,000 offering in a new scheme for investors of new homes, whether off the plan or newly built.
It's for purchases up to $650,000 and also applies to buyers of vacant land up to $450,000.
Real Estate Institute of New South Wales president Christian Payne says the lack of incentives for investors after July 1, 2012 “will only translate into more bad news down the track for those struggling to find accommodation in the state’s already tight rental market".
“Investors after July 1st will be on average $17,490 worse off on a $600,000 purchase off the plan than if they bought the same property today,” he says.
Over the next 18 days Property Observer will publish forecasts by experts as to the merits of buying now, or delaying one's purchase.
 
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NSW property investors’ condundrum: take the $22,490 housing bonus now or just $5,000 after July 1

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1. What is a<a href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075" target="_blank"> ‘New Home Grant’</a>?
From 1 July 2012 most purchasers of new homes in NSW valued up to $650,000 will be eligible for a $5,000 New Home Grant. 
The Grant will also be available to purchasers of vacant land valued up to $450,000 on which a new home will be built. 
2. Who can apply?
The purchaser can be any entity, including natural persons, a company, or trustee of a trust. 
It applies to investors as well as owner occupiers. 
3. How will the ‘New Home Grant’ be administered?
You can either reduce the duty payable by $5000 on your agreement or transfer or pay the full duty and receive a payment of $5000. This will be paid after completion of your purchase. 
4. What agreements or transfers are eligible?
The following types of agreement or transfer are eligible for the grant: 
(a) A new home purchase. That is an agreement or transfer for the purchase of land that is the site of a new home that is complete and ready for occupation.
(b) An off the plan purchase. That is an agreement or transfer for the purchase of land intended to be used as the site of a new home, which is to be built before completion of the agreement.
(c) A vacant land purchase. That is an agreement or transfer for the purchase of vacant land that is intended to be used as the site of a new home and which is not an off the plan purchase.
5. When does it apply?
It applies to eligible agreements for sale or transfer entered into on or after 1 July 2012 (other than transfers relating to agreements entered into prior to 1 July 2012). 
6. Is there any residency requirement?
No, there is no requirement for the purchaser to live in the home. 
7. What is a new home?
A new home is a home that has not been previously occupied or sold as a place of residence, and includes a home that is a substantially renovated home. 
8. What is a home?
A home is a building (affixed to land) that: 
(a) may lawfully be used as a place of residence, and
(b) is, in the Chief Commissioner’s opinion, a suitable building for use as a place of residence.
A building suitable for a place of residence includes a house, a unit or flat, a townhouse, a villa home, or any other type of self-contained dwelling affixed to land, (including a manufactured home as defined in the Local Government Act 1993) where evidence can be provided that the local Council is satisfied that the dwelling can be occupied as a place of residence. 
A building is not suitable for occupation as a place of residence, for example, if the building is a shed or a factory. 
9. What is a substantially renovated home?
A substantially renovated home is a renovated home: 
(a) that is new residential premises within the meaning of section 40-75(1)(b) of the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, and
(b) that, as renovated, has not been previously occupied or sold as a place of residence.
Under that legislation, `substantial renovations’ of a building are defined as renovations in which all, or substantially all, of a building is removed or replaced. The renovations may, but need not, involve the removal or replacement of foundations, external walls, interior supporting walls, floors, roof or staircases. 
10. For a vacant land purchase when must I commence building the home?
The laying of foundations for the home must commence within 26 weeks of completion (settlement) of the purchase, or within any longer period allowed by the Chief Commissioner. 
There is no time limit on how long it takes to complete building the home. 
11. If I am a first home buyer can I apply for the New Home Grant?
If you are eligible for a stamp duty exemption/concession under the First Home – New Home Scheme, you cannot receive the $5000 New Home Grant. 
12. Can I apply for the New Home Grant and the First Home Owner Grant?
If you are eligible for a First Home Owner Grant, you cannot receive the $5000 New Home Grant for the same property. 
13. Can I apply for the New Home Grant and the Regional Relocation Grant?
Yes, if eligible you can apply for the $5000 New Home Grant and the $7000 Regional Relocation Grant. 
Regional Relocation Grant
14. When must applications be made?
Applications must be made within three months of the date of the agreement for sale (or transfer where there is no preceding agreement). This includes off the plan purchases. 
The Chief Commissioner may accept an application after expiry of the three month period if satisfied that the delay in making an application was caused by circumstances beyond the control of the applicant or applicants. 
15. Does the scheme apply to replacement agreements?
An agreement for the sale or transfer is not eligible if: 
(a) it replaces an agreement made before 1 July 2012, and
(b) the replaced agreement was an agreement for the sale or transfer of substantially the same property.
16. Can the home or land be used for other purposes?
An agreement or transfer is not eligible if the new home, or the land on which the new home is located or to be built, is intended to be used for any purpose other than residential (such as commercial, industrial or professional). 
However, eligible for consideration is: 
(a) an agreement for the purchase of a farming property on which there is a new home or on which a new home is to be constructed
(b) an agreement for the purchase of a new home from the developer of a display home that has only been used, or is only going to be used, by the developer as a display home.
17. Must the agreement be for the whole of the land?
The agreement or transfer must be for the whole of the land or, if the land is a parcel of land on which two or more homes are built, or are being built (such as a duplex), for one of those homes. 
18. Can I get the grant more than once?
Yes, as long as the requirements are satisfied. 
19. What if my contract is aggregated with another contract and both are new homes?
Each contract for the purchase of a new home will be eligible for the $5000 New Home Grant. 
20. Can I get the grant if I’m purchasing an existing home to knock down and build a new home on the land?
No, the agreement must be for the purchase of vacant land on which you are going to build a home, or a purchase of a completed new home or a new home off the plan. 
21. Can foreign residents apply for the grant?
Yes, but they would first need to meet the requirements of the Foreign Investment Review Board regarding investment in Australia. 
22. If an off the plan purchase of a new home is on-sold before completion, can the second contract get the grant?
No, only the first sale is eligible for the grant. 
23. Is there an application form?
Yes, a new form and factsheet will be available prior to the commencement of the grant. 
24. How will it work if the duty payable is less than $5000?
You can pay the duty and receive a payment of $5000 or you can pay no duty and receive a payment of the difference between $5000 and the duty payable. 
25. Is there a minimum purchase price that must be paid to receive the $5000 New Home Grant?
No, there is no minimum purchase price.
Source: <a target="_blank" href="https://www.osr.nsw.gov.au/legislation/budget/2012/grant/">New South Wales Office of State Revenue</a>
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The 25 things investors need to know about the July NSW $5,000 new home grant scheme

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<a target="_blank" href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075">1. What is the First Home Owner Grant (New Home) scheme?</a>
The First Home Owner Grant (New Home) Scheme provides a grant of $15,000 to help eligible first home buyers to purchase or build a new home.
It will replace the current $7000 First Home Owner Grant from 1 October 2012.
2. When does it apply?
The grant of $15,000 applies to eligible transactions entered into on or after 1 October 2012 and before 1 January 2014.
The grant will then be reduced to $10,000 from 1 January 2014 with no end date set.
3. What is an eligible transaction?
An eligible transaction is:
(a) a contract made on or after 1 October 2012 for the purchase of a new home in New South Wales, or
(b) a comprehensive home building contract made on or after 1 October 2012 by the owner of the land in New South Wales or a person who will on completion of the contract be the owner of land in New South Wales, to have a home built on it, or the building of a home in New South Wales by the owner builder if the building work commences on or after 1 October 2012.
4. What is a new home?
A new home is a home that has not been previously occupied or sold as a place of residence, and includes a home that is a substantially renovated home and a home built to replace demolished premises.
5. What is a substantially renovated home?
A substantially renovated home is a renovated home:
(a) that is new residential premises within the meaning of section 40-75(1)(b) of the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, and
(b) that, as renovated, has not been previously occupied or sold as a place of residence.
Under that legislation, `substantial renovations’ of a building are defined as renovations in which all, or substantially all, of a building is removed or replaced. The renovations may, but need not, involve the removal or replacement of foundations, external walls, interior supporting walls, floors, roof or staircases.
6. What is a home built to replace demolished premises?
A home is a home built to replace demolished premises if:
(a) the home is a new residential premises within the meaning of section 40-75(1)(b) of the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth, and
(b) the home, as built to replace the demolished premises, has not been previously occupied or sold as a place of residence, and
(c) the owner of the home did not occupy the demolished premises as a place of residence before they were demolished.
7. Does the price of the home need to be under a limit to receive the First Home Owner Grant (New Home)?
Yes, effective from 1 October 2012 the First Home Owner Grant (New Home) Scheme is capped to $650,000. The grant will only be available for properties with a total value not exceeding that amount.
8. How is the Total Value of the home calculated?
For a contract of sale of a home, the total value is based on the greater of the following:
<ul>
<li>the consideration for the eligible transaction</li>
<li>the unencumbered value, as at the commencement date of the eligible transaction.</li>
</ul>
For a comprehensive home building contract, the total value is calculated by adding together:
<ul>
<li>the consideration for the eligible transaction, and</li>
<li>the value, at the commencement date, of the relevant interest of the land on which the home is to be built.</li>
</ul>
For a building of a home by an owner builder, the total value is calculated by adding together:
<ul>
<li>the unencumbered value of the home, at the date the transaction is completed and the value, at the date the transaction is completed, of the relevant interest in the land on which the home is built.</li>
<li>The value of the relevant interest in the land on which the home is to be built is the greater of the following:</li>
</ul>
<ol>
<li>the consideration paid or payable for the interest</li>
<li>the unencumbered value of the interest.</li>
</ol>
9. From October 2012 do I get a grant if I buy an existing home?
No, from 1 October 2012, the First Home Owner Grant will only be payable on the purchase of new homes.
The $7000 First Home owner Grant is still available for purchases of existing homes entered into before 1 October 2012.
10. Does the First Home Owner Grant ( New Home) apply to replacement contracts entered into on or after 1 October 2012?
A contract for the sale or transfer is not eligible if:
(a) it replaces an agreement made before 1 October 2012, and
(b) the replaced contract is for the sale or transfer of substantially the same property.
11. Can I get the First Home Owner Grant and the $5000 New Home Grant?
If you receive the First Home Owner Grant, you cannot receive the $5 000 New Home Grant for the same property.
Source: <a target="_blank" href="https://www.osr.nsw.gov.au/legislation/budget/2012/newhome_faq/">NSW Office of State Revenue</a>
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The 11 things you need to know to secure the $35,240 saving under the October NSW first-home owners' grant scheme

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The world’s housing market decline accelerated during the March quarter, with house price falls in 26 countries and house price gains in only 10.
Over the year house prices had fallen in 24 countries of the 36 countries for which house price statistics are available and rose in only 12 countries during the year to the first quarter of 2012, according to the Global Property Guide's latest house price indices survey.
It noted Australian house prices fell for the fifth straight quarter to be down 6.04% from a year earlier, the longest downturn for a decade.
It also noted the borrowing costs in Australia were the highest of major developed nations.
New Zealand house prices climbed by 0.82% over the year to quarter 2012, after falling 4.79% the previous year, the report noted, suggesting NZ sales activity had been strong for the last few months, with volumes at the highest levels since 2007.
The list of 36 countries was topped by the rapid rise of house prices in India (Delhi) and Brazil (Sao Paulo), although their momentum slowed during the latest quarter.
<img src="/images/stories/2012/06/houseprices.gif">
Over the year to quarter 1 2012, Delhi house prices skyrocketed by 24%, though during the last quarter, they fell 0.07%. House prices fell in some other Indian cities like Chennai and Kolkata year-on-year, according to NHB Residex.
In Sao Paulo house prices climbed by 18.7% in the year to the first quarter 2012. During the latest quarter there was a more moderate price rise of 2.57%.
The report recorded housing markets in Asia cooled over the year due to government measures implemented last year. House prices in Hong Kong were up 0.19% on the year, after a rise of 19.8% the previous year.
There were house price falls in Indonesia (-0.13%), Singapore (-1.36%), Tokyo, Japan (-2.64%) and Shanghai, China (-3.68%).
Europe has yet to emerge from the downturn, highlighted by Ireland’s price declines, which GPG described as catastrophic.
“It is disheartening to see more agony, yet the picture really is alarming,” GPG said.
“House prices fell 18.95% year-on-year, contrasting with a decline of 'only' 13.12% during the same period last year.
“Furthermore, house prices were down 5.19% during the latest quarter.
“Tough credit conditions, an oversupply of housing, and weak domestic demand have weighed down the Irish residential property market,” the report said.
The Global Property Guide's statistical presentation uses price changes after inflation, giving a more realistic picture than the more upbeat nominal figures usually preferred by real estate agents.
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House prices fall in 26 countries in March quarter, with Australia in longest downturn in a decade: Global Property Guide

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Not everyone was expecting the RBA to further ease the cash rate when its board met last week.
Some felt the board would simply "keep its power dry", and just wait to see how the outcome of the June 17 election in Greece unfolded.
Some economists like Saul Eslake of Merrill Lynch felt that the $2.5 billion of cash payments by way of government compensation for the carbon tax would serve as "enough stimulus" for now.
But maybe, such thinking took too simplistic a view of things.
Despite the RBA's fears of an underlying growth in wages, monthly inflation figures have sunk to zero. Furthermore, the corporate sector confidence had also slumped.
However, the tipping point was probably the trading losses suffered on Monday this week on the stock exchange — wiping off around $26 billion in value.
Maintaining your perspective
While international conditions may have softened, local share investors nonetheless appear to have overreacted with their interpretation of the likely effect for Australia. And what the RBA is desperately trying to do is interrupt the cycle of negative consumer confidence.
As you will recall, one of my recent articles explored in some detail Australia's underlying growth prospects, low unemployment, healthy financial system and solid investment pipeline.
And this would appear to now be validated by the solid GDP figures released last week, confirming the state of our economy.
Bottom line: The RBA's decision last Tuesday should give commercial property investors even more encouragement.
The shrewd money already seems to be viewing the current turn of events as purely a severe dampening of local confidence.
And once the switch clicks across to "positive", the anticipated surge in consumer activity will reward those who have based their plans on the underlying fundamentals , rather than unwarranted fear.
Therefore, as a commercial property investor, you need to fully satisfy yourself that everything is as you are being led to believe.
If not, you're missing out on genuine opportunities by "running with the herd". And last week's decision by the RBA should serve as a wake-up call for all commercial property investors — because rates will now be on hold for the foreseeable future.
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 target="_blank" href="https://bitly.com/IFf40C">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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