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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Offshore investor demand for Australian commercial property, already strong, is likely to increase on the back of the weakening Australian dollar, say commercial property experts.
Savills has already noted anecdotal evidence of an up-tick in offshore demand as the dollar has fallen, “particularly from China, where the yuan is pegged to the US dollar”.
“We predict that further significant falls in the Australian dollar will lead to a surge in offshore investment in most forms of commercial properties, resulting in an escalation of values,” says Savills head of city sales and investments Clinton Baxter.
The Australian dollar reached parity with the US dollar in November 2010 and rose to a 29 year high of $1.108 on July 27 2011 before retreating.


Since the end of April 2012 the Australian dollar has decline from around $1.04 against the US dollar to below 98 cents with a more gradual decline commencing from the $1.09 level in February.
Australian dollar versus US dollar since July 2010
<img src="/images/stories/dollarchart1.gif">
Source: OANDA.com
However, Baxter along with counterparts at Knight Frank and CBRE, notes that offshore investor demand has remained high even when the Australian dollar was at record levels.
“Despite the Australian dollar reaching record highs over the past two years, the Australian commercial property market has experienced an unprecedented flow of investment capital from off-shore, particularly from China  and south-east Asia,” Baxter says.
“In the Melbourne CBD alone, half of all major transactions over the past 12 months have been to offshore investors.
“Counter-intuitively, motivation of offshore investors rose despite the protracted rise of the Australian dollar, with investors seeking a safe haven for their wealth, expansion into a new market, potential immigration advantage, and to invest in a country insulated from the woes of Europe and the US.”
Neil Brookes, director of international investments at CBRE, says the significant strengthening of the US dollar against the Australian dollar since February has positively affected buyers from the US and China.
“However the strengthening of the euro has not been as pronounced and therefore has not lessened the hedging costs for European investors,” he says.
Brookes says the volatility of the currency is a factor for some groups investing in Australia.
But he stresses that the majority of institutional buyers are looking at Australia as a long-term play and therefore aren’t sensitive to the currency variations.
Australian dollar versus euro since July 2010
 
<img src="/images/stories/eurochart1.gif">
Source: OANDA.com
Paul Henley, managing director of sales at Knight Frank, says there is already strong demand from offshore Asian private investors and institutions looking to invest and/or seek out development opportunities.
“The fall in the Australian dollar is only going to help,” he says.
Henley says investor interest is primarily coming from Asia, with the focus predominantly on the non-core office markets such as the St Kilda Road market in Melbourne and the North Sydney market.
“Investors are also seeking out development opportunities in Melbourne,” he says.
Henley says overseas buyers are seeking investments that represent a “strong return today” and will add value over time.
“They’re particurlarly targeting development opportunities in Melbourne.”
Henley says investors are looking to diversify their asset base and view Australia as a relatively stable economic climate.
“The Australian commercial market is not as foreign to these people as it was once – they are now very familiar with these markets.”
Before the strengthening of the dollar, Henley says Asian investors did not see the high exchange rate as an impediment.
“When the Australian dollar got to $1.05 against the US dollar we thought investor demand would slow down, but it didn’t slow down their appetite,” he says.
Earlier this month the <a href="https://www.propertyobserver.com.au/industry-news/new-asian-real-estate-website-adds-australian-commercial-properties-to-listings/2012051654720" target="_blank">ASX-listed iProperty Group launched a new Asian commercial property website, CommercialAsia.com</a>, which includes Australian commercial properties among its listings.
According to Jones Lang LaSalle figures, Australian investment volumes for office, retail and industrial in the first quarter of 2012 reached $2.08 billion, compared with $1.4 billion in the first quarter of 2011. Australia was one of the top investment destinations for overseas buyers over this period – behind Japan and Hong Kong. 
About a third of the investment in Australia has come from offshore, mainly from non-Asia Pacific investors. 
In its recent Asia Pacific Capital Markets MarketView report, CBRE said A-grade offices in Sydney, Melbourne and Brisbane continued to attract a steady flow of enquiries. There was also a jump in demand for retail assets accounted for $968 million worth of deals during the period – 40% of total sales over the period.
<img src="/images/stories/cbremay28.gif">
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Falling dollar encouraging even more offshore investment in Australian commercial property

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Despite his distaste of barmaids "hired for their physical attributes rather than their prowess in drawing ale," and his teetotalling ways, early Labor politician King O'Malley often delivered his famous Federation-era speeches from the balcony of Queenstown’s Hunters Hotel – a hotel that is now up for sale.
O’Malley frequently campaigned for workers’ rights from the 1898-built hotel as Tasmanians gathered in the street below.
The hotel has two shop fronts, each leased to long term-tenants. The building has 20 hotel rooms and a bottle shop at the rear.
Classified as a building of national historic significance, the hotel sits on a 1,012-square-metre block of land. The historical façade of the building is heritage listed.
<img src="/images/stories/huntershotel1.jpg">
Agent Bradlee Martin from Roberts Licenced Properties Hobart is looking for between $170,000 and $200,000 for the property.
O’Malley was a pioneer of Labor tradition and had a strong relationship with the miners of Queenstown.
He moved to Tasmania in 1900.
His parliamentary career had a major impact on property being behind the push that explains the ACT leasehold situation.
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Tasmanian Queenstown’s Hunters Hotel – site of King O’Malley’s campaigning speeches – on the market

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The age-old real estate adage of “You make your money when you buy, not when you sell” is as true today as it ever was.
As human beings we often ignore this tip and fall into the trap of buying without doing our homework first. The problem with this is that you may do exactly what the seller is hoping you will do – pay a price above the market value of the property.
The economy, market forces and other factors make it difficult to calculate the time it will take to recoup the cost of a premium you have paid, but even if you paid 10% over market value it could take two or more years.
Astute home buyers and investors do extensive research before they make a decision to buy. They will have established a market value in their heads, carefully balanced out the pros and cons, put their emotions to one side and made an informed decision on the maximum amount they are willing to pay.
There is an important element called “potential” involved in property purchases.
It is not just what you see physically when you inspect a property but also what you believe can be done in future to improve it. This forms part of what adds value for you as a buyer and is particularly important when you decide to sell.
There are three key questions that buyers always need to ask:
<ol start="1">
<li>What is the seller’s motivation? The answer to this question helps to understand the urgency of the sale (or not) and impacts on the price the seller is willing to accept at any given time.</li>
<li>How long has the property been on the market? This one helps to understand the reasons the property had not sold. Is it overpriced? Does it have major defects? Or has it just gone stale and the seller is now open to any reasonable offer as other buyers have shied away?</li>
<li>What is the market value of the property? Doing your own research helps establish a value in your own mind based on recent comparable sales and current listings in the same area.</li>
</ol>
Of course the decision to purchase a property needs to be finely balanced between the buyer’s needs and wants. We would all love to own a home with a swimming pool, but do we really need one?
If you are a property buyer and have ticked all the above boxes before you purchase you will have the satisfaction of knowing that you are ahead of the game for years to come.
If you are time-poor or feel you don’t have the experience to buy a home or investment property yourself, engage a buyers’ agent. They have many years of know-how in successful property transactions and will take the stress and strain away from you. Their job is to act independently for you in your best interest and get you the best possible purchase price.
In New South Wales buyers’ agent fees vary from agency to agency but generally they charge an amount ranging between 1% and 3% of the purchase price. Every case is different and depends on a number of factors including the scope of the buyer’s brief (wish list), the resources involved, the geographic location, market conditions, etc.
The fee paid for a successful purchase should be regarded as an investment and it is always money well spent.
A final thought: "As the vendor will engage an agent to negotiate the highest possible price, why shouldn't the buyer engage one to negotiate the lowest?"
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a target="_blank" href="https://www.primepropertybuyer.com">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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tmansfield-Rk8rBecHRA

Research your property purchases thoroughly, as a mistake will cost you for years

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In my view there are three stages for property investors: research and due diligence, then the offer and purchase process, and last of all the ongoing management and capital maximisation of the investment property. What I find interesting, and what I am writing about today, is how different people place varying hours of their time into these stages, and how this can be a cause for concern for the less informed among us. So let's look at each of these stages and get a feel for what is involved in them:
Research and due diligence. This is where you must first identify your objectives. By this I mean you ask yourself the “big” questions about your broader life objectives, such as:
<ul>
<li>What are my long-term life goals? How much money do I need to retire on? </li>
<li>What kind of investment risk profile do I have? </li>
<li>Is property investment for me? Do I have the time, dedication, and longevity of commitment to stick to it? </li>
</ul>
And then hone in to get to the “little” questions, about the specifics of what you're looking for in an investment property, such as:
<ul>
<li>Apartment, townhouse, or house? Off the plan, or pre-existing?</li>
<li>Do I want to live near my investment to keep an eye on it? Or am I OK for it to be interstate or international? </li>
<li>Do I want a “set-and-forget” approach, or something more hands on and high demand (but with greater potential for capital gain)? </li>
</ul>
With the above assessed you then need to commence market research (assessing suburbs and property types and measuring them against hard metrics, trends, data, etc), due diligence (lots of time spent here, crunching numbers, working out long-term holding costs, capital trends and so on). Once this is done you will then be armed with all your spreadsheets and formulae to hit the pavement and inspect. You actually won't need to inspect that many properties, because you'll already have done all the research leading you up to know exactly what you want.
The difference and net effect of this is like comparing two children who each have saved up pocket money for a chocolate bar. The first doesn't know what he wants and goes into the shop and is inundated with too much choice. He rapidly and nervously picks a random sweet, not knowing if he'll like it or not, simply because there were a mass of other kids buying out all different kinds of candy bars and he didn't want to miss out. He ends up with a Snickers bar, only to open it, take a bite, and realises he is in fact allergic to peanuts. The other child has already figured all that out; she knows exactly what she is allergic to, what tastes good, and what will satisfy her taste. She also knows that the bar she likes is very popular. When the shop opens at 9am, she charges in with all the other kids but takes a fraction of the time, buys the candy bar she'd preselected when she was already at home, and enjoys every bite.
2) Making an offer and purchasing. This is where would-be buyers go through the offer process, negotiate the deal, have their investment property “team” (Mortgage broker, lender, solicitor/conveyancer, accountant, financial planner, tax depreciator, strata officer, and most importantly, mentor) on hand, ready to hit the “green-means-go!” button once the offer is accepted.
3) Ongoing property management and capital maximisation There are many things that will keep you busy when it comes to this area, with each one of these requiring a chapter to cover them better. So I'll just list the main ones:
<ul>
<li>Finding a reputable managing agent</li>
<li>Tenants moving out and sourcing quality new ones</li>
<li>Attendance of strata meetings, building maintenance, and occasional council disputes</li>
<li>Improvements, renovations, maintenance, repairs</li>
<li>Tax depreciation and annual tax and income management</li>
</ul>
Getting the most out of your investment property is vital. This is because the return you see from your property can vary hugely, due to a list of unforseen changes to your life. For example, your personal income changes. Few working Australians actually earn the precise same amount of income each year. This needs to be taken into consideration in your overall tax assessment. And what if you don't work or study for a year? Lose your job? Or get a big $50,000 salary increase? This alone will change the dynamic of your investments' potential to net you solid returns.
Notice how little I wrote about stage two, compared with the other two stages? This should tell you something about the amount of time you invest in each stage. When I acquire properties I tend to spend my time investment (remember “time is money” in any investment or business undertaking) in the other stages, so my time schedule looks more like this:
<img src="/images/stories/mcevoymay281.jpg">
Versus less informed investors whose time distribution looks more like this:
<img src="/images/stories/mcevoymay282.jpg">
As you can see, the “buying” stage should actually be the least time-consuming part of the overall investment process! Sounds weird to say it, right?
So, while some investment property gurus are fast to tout the “you make your profit when you buy, not sell” mantra as a rationale to dedicating so much time to buying process, what they actually mean is that the profit is made in the research revelations leading up to the purchase of your property. Prior research/due diligence should take up the bulk of your time, followed by ongoing management, which can take 10, 20, 30, or even 40 years if your strategy is a more long-term “buy-and-hold” one. Certainly something to keep in mind when preparing to purchase.
Watch this space; next time I'll put the ”offer acceptance and purchase” process under microscope and list most of the hoops you'll need to jump through, one by one, when purchasing the property itself. This might help to relax you and take some of the stress away that we all face when going through the buying stage.
Cameron McEvoy is a property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a>
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cmcevoy-Go82SmsJA9

Buying is just a small part of residential property investment

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The first tenants have moved into Collins on Bourke, the largest mixed-use commercial development in the Sydney suburb of Alexandria in the past five years.
The development is about 45% leased after about seven months, with tenants including alcohol company Suntory (1,470 square metres leased at $385 per square metre), Samuel Smith &amp; Son and Negociants Australia (4,500 square metres of combined office and warehouse space), medical centre Galen &amp; Gray (450 square metres) and childcare facility Explore and Develop (550 square metres of internal space plus 550-square-metre balcony).
<img src="/images/stories/collinsonbourke1.jpg">
“Collins on Bourke offers tenants a contemporary business space with an ideal work like balance,” says Michael Crombie of Colliers International.
“Bourke Street is really buzzing, and it’s the clearest sign that this suburb is truly coming of age. Collins on Bourke will lead further change as tenants look for more creative, better quality and better value accommodation.”
Graphic and website design company Attractivo is set to move into one of the high-tech suites, having secured a lease for just under $35,000 per year.
“The tenancy mix we’ve attracted is outstanding and we’re expecting enquiry to only strengthen now the project is complete and the site starts to come to life,” says owner representative George Mitsis.
“It’s a clever diversity of accommodation and tenants have seen the value in what this combination of businesses can bring to them as occupiers of the space, but also the broader south Sydney community.
“It’s the kind of place that recognises the shift in how people are choosing to live and work.”
Collins on Bourke will be near Sydney’s $1.7 billion mixed-use Green Square developments, which is set to house about 20,000 homes and 22,000 jobs, according to the City of Sydney’s website.
<img src="/images/stories/collinsonbourke3.jpg">
A recent report <a href="https://www.propertyobserver.com.au/australian-capital-territory/fringe-office-markets-outpace-metro-neighbours/2011080451030">by The Property Council found that non-CBD office market vacancy rates</a> are declining at three times the speed of their CBD neighbours.
Collins on Bourke’s high-tech suites lease for about $450 per square meter per year, with showrooms along Collins and Bourke streets available for about $500 per square metre and high-clearance warehouse space for about $280 per square metre.
<img src="/images/stories/collinsonbourke2.jpg">
The four-level, 21,000-square-metre building was developed by HSF Property Developments and Grant Samuel Capital to a design by Turner &amp; Associates Architects.
Vicinity Wine Bar and Restaurant is set to open in the 600-square-metre prime position on the corner of Collins and Bourke in late June, which is when the building will officially open. Vicinity will belong to the Prospero Group, which is responsible for Manta Bar and Restaurant in Woolloomooloo.
The building will also include a Plus Fitness gym at ground level.
Construction began in October 2010 and finished in March this year.
 
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cknowlton-QnEa6ntUYP

Commercial tenants move into Collins on Bourke in Sydney's Alexandria

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Fitzroy’s music venue The Night Cat will live on after selling for $4.63 million at auction yesterday.
The venue was saved from being turned into a Reese Plumbing shop after neighbouring property owner Andrew Demetriou outbid developers for the site.<img src="/images/stories/nightcat1.jpg">
Reese’s Plumbing was reportedly hoping to set up an owner-occupier shop in the premises, but Demetriou (not the AFL boss) outbid the company.
“It was the most vicious battle I’ve ever seen at an auction,” says Night Cat operator Max Bella.
“It was the most stressful thing. Thank God Andrew had balls of steel.”
Bella says he will be signing a new lease with Demetriou soon.
<img src="/images/stories/nightcat2.jpg">
“He wants to keep The Night Cat as The Night Cat. Isn’t that a beautiful thing? Culture remains in Fitzroy.”
“It’s the best news for live music in Fitzroy for a long time. We haven’t stopped partying,” Bella says.
“Who could ever want to put a plumbing display shop there, oh God.”
Colliers agent Jeremy Gruzewski says both he and Bella were happy with the auction result.
“It was a strong auction. It was bought by a neighbouring property owner. He’s increasing his portfolio in Fitzroy.”
“Max was yelling and cheering, popping the Moet champagne. He was very thrilled.
“The Night Cat lives on.”
<img src="/images/stories/nightcat3.jpg">
Agents had been expecting $3.2 million plus for the property.
The Night Cat currently pays annual rent of $195,000, with a fixed 4% increase due February 2013 taking the passing rental to $202,772.48 per year net.
The current lease expires on January 2014.
 
 
 
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Fitzroy's Night Cat lands on its feet and sells to neighbour at auction

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A couple of weeks ago the deputy governor of the RBA, Dr Phil Lowe, <a href="https://www.rba.gov.au/speeches/2012/sp-dg-140512">revealed</a> that the “biggest surprise” for the central bank in 2011 had been the very low level of “home building.” I laughed when I read this because I had debated exactly this issue with the RBA in 2009 and 2010. It was entirely predictable. 
Pondering how the RBA had misjudged the level of new building activity over 2011, Lowe said he thought that “a lowering of expected capital gains on housing … has made developers, financiers and households less willing to commit to new construction despite rising rental yields, lower prices relative to income and ongoing growth in population.” 
In 2009 and early 2010 I publicly and privately expressed anxiety that high-profile “jaw-boning” of house price rises by Glenn Stevens, Phil Lowe, and Tony Richards would exacerbate the supply-side problems that these same individuals claimed they were concerned about. I also warned economist buddies of mine that there was no way building approvals would recover to the levels they forecast while the RBA left the community with the impression there was a house price bubble. Here’s what happened to building approvals after the RBA’s “open-mouth operations”.
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On the one hand, the bank has frequently argued via its bi-annual <a href="https://www.rba.gov.au/publications/fsr/index" target="_blank">Financial Stability Review</a> that the housing market’s fundamentals are solid, with an inelastic supply-side (something I had highlighted back in 2003), internationally low default rates, healthy population growth, a reasonable price-to-income ratio, and low vacancy rates. The bank has also regularly said it would welcome more developer activity. 
On the other hand, the bank was worried that the rapid house price appreciation in 2009-10 could lead to future financial stability complications. It was a forward-looking critique: if asset price growth continued it could feed back into credit growth, which is something the bank wanted to avoid. In March 2010 the governor, Glenn Stevens, famously gave an unprecedented, and widely covered, interview to Sunrise’s David Koch warning home buyers that house prices were not a one-way bet. 
Several months earlier, the RBA’s Tony Richards had offered the argument, which also got wide media airtime, that “[A]s a nation, we are not really any richer when the price of housing rises, but the more vulnerable tend to be hurt.”
The net result of the RBA’s posturing was that many commentators reported that the central bank thought Aussie housing was expensive. In truth, the RBA was trying to deliver more nuanced messages. One of these was that we should not expect to see a repeat of the 7-8% capital gains home owners realised over the last 30 years. A second was a reminder that house prices can go up and down. 
In abstract, this was wise advice. Indeed, I had myself regularly argued that the risk of an individual family home was much higher than many people understood.  <a href="https://www.businessspectator.com.au/bs.nsf/article/rba-house-prices-lending-pd20100519-5l248?opendocument&amp;src=blb&amp;" target="_blank">In this May 2010 column</a>, I revealed research by Rismark that had, for the first time in Australian history, quantified precisely how risky an individual home is. 
Before diving further into this issue, it is useful to get some context. After three years of relatively low house price growth in 2004, 2005, and 2006, capital gains accelerated by 13% in 2007. The coincidence of rising variable mortgage rates, which peaked at a scorching 9.6% in August 2008, and the onset of the GFC saw prices drop by about 4% that year (see chart below).
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Yet the unwinding of the RBA’s tight monetary policy in 2008 together with fiscal stimulus from the government helped the market recover quickly in 2009. That year prices rose 13.7%. 
In October 2009 the RBA started to normalise monetary policy again with four quick rate hikes. The bank was keen to do so in part because of worries it had about the effects of leaving rates too low for too long. 
It was clear to Rismark in the first half of 2010 that there was no risk of a repeat of the previous year’s boom. In fact, we forecast zero capital growth in the second half of 2010, and started warning prices could fall if the RBA kept on pushing rates into restrictive territory. In November 2010 the RBA complied with a de facto double rate hike, which was amplified by a barrage of RBA rhetoric in the first half of the following year implying more hikes were coming. Unsurprisingly, prices fell by 3-4% in 2011. 
Since the end of 2007 Australian house prices have risen by 2.5% per annum. That is, they have tracked the RBA’s inflation target. Notwithstanding two years in which house prices deflated, they are still around 8-10% higher than their early 2008 peak. 
This is awkward news for the University of Western Sydney assistant professor Steve Keen. Many will recall that Keen sensationally predicted a 40% drop in Aussie house prices. As my next chart shows, the gap between Keen’s 2008 prediction and current house price levels is over 80%.
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With the 2009-10 rate hikes neutralising the relief bequeathed by the RBA during the GFC, I thought the high-profile jaw-boning of prices by RBA officials was fraught with danger. Specifically, I warned that these actions could end up stifling the supply-side. I <a href="https://christopherjoye.blogspot.com.au/2010/04/economists-confused-and-kirchner" target="_blank">outlined this thinking in April 2010</a>: 
“Back in 2008 and 2009 we had the RBA enthusiastically defending the integrity of housing market conditions and casting doubt on the many predictions for steep price falls. What is problematic here is that Stevens and Lowe's statements [about the cost of housing] are only going to seriously spook lenders. Rightly or wrongly every credit officer in the country thinks the RBA believes Australia is suffering from an unproductive house price bubble. (We even had NAB’s chairman criticising CBA and Westpac for ramping up mortgage finance.) The headlines on the front pages of newspapers conveyed the story this week: "RBA worried about bubble risks".
The RBA’s jaw-boning is going to exacerbate the supply-side problems. Ironically, rising prices are the best possible thing to stimulate investment in new supply. This is, after all, what free markets are there to do: signal where scarce economic resources should be allocated via the price mechanism.  It also pays to remember that property "investors" provide rental accommodation for lower income families. According to the RBA, rental vacancy rates are currently very tight. So surely we want to be encouraging, not discouraging, investment in new rental shelter?  Finally, if people are going to argue that fundamentals-based house price rises are bad for society, they also have to explain to us why rising share prices are bad too. Rising house prices simply reflect an increase in the value of productive assets that supply 10.9 million Australian workers with shelter. It is usually the market signaling that we need more investment in shelter. Likewise, the rise in the value of, say, farms that produce food for us to consume (food and shelter are the two essential inputs for a functioning economy) reflects an increase in the market value of its assets. For clarity's sake, I am a big opponent of individual consumers gearing heavily into residential property or shares, which, contrary to popular opinion, have similar levels of risk at the individual asset level. It makes little economic sense. And I have argued longer and harder than anyone that we need to deleverage household balance-sheets [via greater use of “equity” as opposed to “debt” finance] and elastify the supply-side.”
In addition to jaw-boning house prices in 2009 and 2010, the RBA regularly signaled via its media proxies that it was prepared to put a brake on housing returns if it deemed them to be problematic from a financial stability viewpoint. 
Given these interventions, one wonders whether it really was that “surprising” that investors have downgraded their return expectations with direct ramifications for the amount of capital being committed to producing new housing supply.
 
 Christopher Joye is a leading financial economist and a director of <a href="https://www.ybr.com.au/savings/index.cfm" target="_blank">Yellow Brick Road Funds Management</a> and Rismark. The author may have an economic interest in any of the items discussed in this article. These are the author’s personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations.
 
 
 
 
 
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The decline in home building was entirely predictable, despite what the RBA says: Christopher Joye

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Westpac is tipped to relocate its back-office operations to Lend Lease’s new Barangaroo development on the Sydney shore.
The decision to relocate was taken at a board meeting last month, according a report in the Australian Financial Review, which quotes “senior sources”.
Lend Lease declined to comment on the speculation while Westpac told AFR it had yet to make a decision.
Over the past few years <a href="https://www.propertyobserver.com.au/office/big-banks-have-big-investments-in-cbd-office-space-in-melbourne-and-sydney/2011122052906" target="_parent">Australia’s four biggest banks have collectively invested about $2 billion dollars in new office developments in Melbourne and Sydney</a>, with NAB’s new futuristic building next to Etihad Stadium at Docklands currently taking shape.
A spokesperson for Westpac says it is currently reviewing its property requirements in the Sydney CBD.
“At this stage no commitment has been made and we are considering our options,” the spokesperson added.
KPMG has also been linked to the project, which is expected to include two towers known as C4 and C5.
According to the April Barangaroo update, construction of the retention wall at Barangaroo South while piling underway is for the foundations of the first commercial building and shared basement.
 
 
 
 
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Westpac mooted as Barangaroo anchor tenant

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There were 831 sales in Perth for the week ending May 23. This is up from 671 the same week last year and up from the 762 four weeks ago.
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Perth sales up 9.1% from four weeks ago: REIWA

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The REIV regularly surveys its Members to measure market sentiment and develop a deeper understanding of what influences decisions about buying, selling or leasing.
One of the topical issues canvassed is what drives people to buy – or not to buy – property, both residential and investment? Not surprisingly, there are differences between the two classes of purchaser.
For those considering a residential purchase, the most important factor was stamp duty. Buyers understandably see spending 4-5% of the purchase price on this tax as a significant impediment. That accords with the views of economists who cite the tax as an impediment to moving.
It was closely followed by the obvious issues of securing finance, interest rates and the availability of quality stock. Interestingly, this suggests that buyers are more likely to compromise on the quality of the home than they on are the cost. Of little importance were planning issues and land tax, as most buyers don’t buy with the singular aim of developing.
When asked what drives property investors, the most substantial difference in responses was the issue of land tax, mainly as they need to pay it when owner-occupiers generally do not. Investors ranked interest rates as the most important factor and were much more concerned about the impact of planning and building laws. This reflects the fact that the singular aim of most investors is to make money from the property by either renting it or developing it. A project or investment is not feasible when the cost of ownership – land tax and interest rates – is too high.
Enzo Raimondo is CEO of the <a href="https://www.reiv.com.au/" target="_blank">Real Estate Institute of Victoria</a>.
 
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