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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Ideal for the gourmand investor, the Cottage Point Inn in Hawkesbury has come onto the market for the first time in 23 years.
Investors can’t be too shy of water, as the restaurant sits on the waterfront in the Kuringai Chase National Park and is accessible by seaplane or ferry. Alternatively it’s a 40-minute drive from Sydney.
Originally a boat shed and general store, it was converted in the 1970s and has been operated by Daniel McKinnon for the last 20 years. The property is currently owned by yachtsman Dr Tony Fisher and his daughter Sally Smith through their company Helsal Investments Pty Ltd, named after the 70-foot concrete yacht Helsal which Fisher captained to win line honours at the 1973 Sydney to Hobart yacht race. They bought the property in 1989.
Steve Daley, of Irish and Maltese descent, is the current head chef after 15 years in the hospitality industry, including an apprenticeship at the Pier and time in Europe focusing on French training and techniques. He is reportedly an avid fisherman is often seen on the river fishing for jewfish and kingfish with other staff members.
The restaurant has a private floating deepwater pontoon for seaplanes and large boats for use by diners and guests. A package including sea plane charter from Sydney to the restaurant and a three-course meal costs $485 per person.
Cottage Point Inn includes two fully self-contained apartments, which along with the restaurant pay rent of $313,750 a year. The tenants pay all outgoing costs, including a $20,000 National Parks &amp; Wildlife licence. The apartments start at $220 a night.
The restaurant and apartments are on a five-year leases signed on April 1 plus five-year renewal option.
LJ Hooker Palm Beach agent Peter Robinson expects the buyer will also pick up a timber cottage at the back of the property on the same auction day.
On a separate title the 853-square-metre, three-bedroom home is being offered as part of a combo deal.
Robinson is expecting about $5 million for the two properties if bought together but says if there is no investor interest in buying both the vendors are willing to sell the Cottage Point Inn Restaurant and Apartments title for around mid-$3 millions plus GST and the residential house in the mid-$1 millions.
Cottage Point Inn and the house go to auction on May 31.
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Cottage Point Inn and apartments in Hawkesbury on the market

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Have you wondered how many properties you would need for financial freedom?
I’ve found that while most property investors hope to one day replace their personal exertion income with cash from their investment properties, most don’t have a strategy to achieve their goal.
So just how many properties does it take to enable you to quit your day job and live comfortably?
The answer is simple: it depends.
OK, that’s not what you wanted to hear, but in fact it’s the wrong question to ask.
It doesn’t really matter how many properties you own. What is more important is the value of your asset base and how hard your money works for you.
Why do I say this?
Because I’d rather own one Westfield Shopping Centre than 50 secondary properties in regional Australia.
How will you live off your property portfolio?
While many property investors know they want their properties to replace their income, I’ve found most don’t actually think about how they’ll actually achieve financial freedom.
They don’t have a strategy. They don’t have a plan. They just hope it will happen.
Other investors think that they’ll live off their rental income, yet I rarely see this happen. It’s just too hard to grow a portfolio of cashflow-positive properties of a sufficient size to replace your income.
On the other hand, the wealthy investors I deal with have built a cash machine by growing a substantial asset base of high-growth properties and then lowering their loan to value ratios (LVR) so they can transition into the next phase, the cashflow phase of their investment life.
They lower their LVR in a variety of ways. They could:
•             stop (or slow down) buying properties, so that while the value of their portfolio keeps rising, their loans remain much the same;
•             add value to their properties by manufacturing capital growth through renovations or development;
•             pay off some debt using their superannuation;
•             reduce their debt by pay off principal and interest; or
•             sell a property or two.
But the first stage of their wealth creation strategy always involves building a substantial asset base.
Can’t I just live off the rent?
Let’s say you want an annual after tax income of $100,000. How are you going to achieve that? How many properties do you need?
If you plan is to eventually pay down your debt and live off the rent, you’ll probably need at least $4 million worth of properties with no mortgage to get that $100,000 after-tax income.
Don’t believe me?
The average gross yield for well-located properties in Australia is around 4%, but let’s be generous and say you earn a 4.5% yield across your property portfolio.
This means if you eventually own $1 million worth of properties with no debt, you’ll get $45,000 rent. But you’ll still have to pay rates and taxes and agents’ commissions and repairs, leaving you with something like $35,000 a year. And then you’ll have to pay tax on this income.
When you do the sums you’ll see that you need an unencumbered portfolio worth at least $4 million to earn that $100,000 a year after tax.
Remember that’s $4 million worth of property and no mortgage debt, otherwise you cashflow will be lower.
And of course you’ll also need to own your own home with no debt against it.
Let me ask you a question: will you ever be able to save $4 million?
Will you ever build a portfolio that size on a few dollars a week positive cashflow from your rents?
By now it should be clear that the only way to build a substantial asset base is to take advantage, leverage and compounding growth of well-located properties.
In my mind the only way to become financially independent through property is to first grow a substantial asset base (by buying high-growth properties) and then transitioning to the next stage – the cashflow stage – by lowering your debt, but not paying it off completely.
Here’s how it works:
Fast forward 10 or 15 years and imagine you own your own home plus $5 million of well-located investment properties.
If you had a typical 80% loan to value ratio, you would be negatively geared.
On the other hand, if you had no debt against your property portfolio you would have positive cashflow, but would forgo the benefits of leverage.
Somewhere in the middle, maybe with a 50% LVR, your property portfolio would be self-funding. You may even have a little cash flow left over, but not enough to live on.
If you think about it, it will be much easier to amass a $5 million property portfolio with $2.5 million of debt than the same size portfolio with no debt.
You could then go to the bank and explain you’ve got a self-funding portfolio that isn’t reliant on your income and in fact, there’s a little cash left over for serviceability. You would then ask for an extra $100,000 loan, so you’re increasing your LVR slightly.
The good news is that you don’t have to pay tax on this money because it’s not income. But you would have to pay interest, which won’t be tax deductible if you use the money for your living expenses.
This means after the interest payments you’re left with around $93,000 to live off.
Crunch the numbers.
At the end of the year, you’ve “eaten up” your $100,000, but in a good year, your $5 million property portfolio would increase in value by, say, $500,000.
In an average year it will have increased in value by $400,000 and in a bad year it may have only gone up by $150,000 or $200,000.
Of course your rents will also have increased because your properties have increased in value.
Sure you’ve used up the $100,000 you borrowed, but because your portfolio has risen in value, along with rents, your LVR is less at the end of the year than the beginning, so you finish off the year richer than you began it. You truly have a cash machine, and then you can do this over and over again.
Does this really work?
In the old days living off equity was easy.
You just had to go to the bank and get a low-doc loan and as long as your properties increased in value it was smooth sailing.
Sure it’s harder today, but it’s definitely doable. You just have to lower your LVR to show serviceability to the banks.
Needless to say, you can’t achieve this overnight. It takes time to build a substantial asset base and a comfortable loan-to-value ratio. But if you take advantage of the magic of leverage compounding and time, it happens.
Do you have an asset protection plan?
Of course this strategy depends on the growth in your property portfolio and your ability ride the property cycle.
This means that as you build your asset base, buying high-growth properties and adding value, you will need an asset protection plan to see you through the ups and down that you’ll experience.
After all, over the next 10 we’ll have good times and bad. There will be periods of high interest rates and times of lower interest rates. And we’ll have periods of strong economic growth, but there will also be times of downturn.
Savvy investors count on the good times but plan for the downturns by having an asset protection plan, as will as a finance strategy and tax strategy to make sure they set up their structures in the most efficient way.
Don’t get me wrong, while I’ve just made gaining financial freedom form property investing sound simple, it’s not easy. And that’s not a play on words.
Fact is, around 20% of those who get involved in property investment sell up in the first year and close to half sell their property in the first five years.
And of those investors who stay in property, about 90% never get past their second property.
So if you want financial freedom from property investment to fund your dreams, you’re going to have to do something different to what most property investors are doing. You’re going to have to listen to different people to who most Australian property investors listen.
You’re going to need to set yourself some goals and follow a strategy that’s known, proven and trusted.
Then you grow your property investment businesses one property at a time.
Of course, you need to buy the right type of properties.
One that has a level of scarcity, meaning they will be in continuous strong demand by owner-occupiers (to keep pushing up the value) and tenants (to help subsidise your mortgage); in the right location (one that has outperformed the long-term averages); at the right time in the property cycle (that would be now in many states); and for the right price.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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How many properties do you need to own to never work again?: Michael Yardney

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Melbourne registered a 7.3% increase in housing affordability over the March quarter, with the overall national HIA-Commonwealth Bank Housing Affordability Index improving for the fifth straight quarter to its highest level since September 2009. 
Housing affordability has been trending up since December 2010, according to the index.
The index improved by 6.4% (3.7 index points) in the March 2012 quarter to be 11% (6.1 index points) higher over the year and at a reading of 61.8.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/hiamay241.gif"><img src="/images/stories/hiamay241thumb.gif"></a>
This reading indicates that housing still remains relatively unaffordable for the average wage earner. 
An index reading of 100 indicates that an individual earning an average income could service a mortgage on a median-priced property with mortgage costs taking up 30% of their income. 
Currently, based on a median house price of $459,000 an individual would need to earn an income of $113,000 to comfortably service their loan and make monthly repayments of $2,800. 
The most affordable capital city housing market is Hobart, with an index of 73, while Sydney is the least affordable with an index of 50.
Click to enlarge
<img src="/images/stories/hiamay242thumb.gif">
The March quarter improvement in Melbourne was matched by an identical improvement in Adelaide, with Brisbane up 6.3%. 
However, both Sydney and Perth recorded deteriorating affordability in the March quarter of 2012, with their indices falling by 1% and 1.8% respectively. 
Among the smaller capital cities, Hobart housing affordability improved by 3% and Canberra by 7.1%. 
Outside of the capital cities, affordability improved in all states with the exception of Victoria, which was unchanged. Affordability in non-metropolitan New South Wales was up by 2.4%, Queensland was up by 4.5%, South Australia was up by 6.4%, Western Australia was up by 8.7% and Tasmania was up by 0.4%. 
Conditions are beginning to tilt back in favour of those trying to enter the housing market, says the HIA.
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Melbourne and Brisbane lead housing affordability increase to highest level since September 2009: HIA-CBA index

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The Town and Country Hotel at St Peter's Sydney, immortalised in the Duncan song by Slim Dusty, was passed in at $2.21 million at its auction today.
Bidding on the hotel on Unwin's Bridge Road opened at $1.8 million through auctioneer Damien Cooley.
It's listed through Gerry Quinlan at Manetti Quinlan hotel brokers, who was seeking $2.5 million on initial marketing. It comes with 15 poker machines and potential redevelopment possibilities. The song was actually written by Pat Alexander seven years before it topped the charts in 1981 for two weeks.
The auction bids featured in the TGC Sydney Property Twitter updates from the auction room.
<img src="/images/stories/towncountrytwitter1.jpg">
Alexander wrote the song had come out of an experience while selling life insurance.
"I love to have a beer with Duncan, I love to have a beer with Dunc. We drink in moderation, and we never, never ever get rolling drunk. We drink at the Town and Country, where the atmosphere is great. I love to have a beer with Duncan 'cause Duncan's me mate."
Alexander sent one of his discs to Slim Dusty's post office box address and it was his wife, Joy McKean, who happened to play Duncan, and liked it.
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Slim Dusty 'Duncan' hotel passed in

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Finding a house or unit within 20 kilometres of the capital city that fits a small budget can be difficult, but there are still suburbs located 20 kilometres or less from the CBD of each capital city where relative bargains can still be had.
Across the combined capital cities, there are opportunities to purchase homes at prices below citywide median prices in locations that are still relatively close to the city centre. Of course, in the more expensive centres, these opportunities are more difficult to come by. There are still opportunities, however, within 20 kilometres of the city centre.
Across the combined capital cities, 34.8% of suburbs within 20 kilometres of the respective capital city centre have a median house price below $500,000, while, for units, the figure is a higher 73.6%.
These figures indicate that price sensitive purchasers still have some options closer to the city centre, in particular if they are prepared to purchase a unit.
It must be pointed out that across individual cities, the proportion of homes priced below $500,000 less than 20 kilometres from the city centre are quite varied, particularly for houses. Only 3.7% of suburbs less than 20 kilometres from the centre of Sydney have a median house price below $500,000, and the figures are also relatively low in Melbourne (21.7%) and Canberra (25.6%).
These results highlight the relatively high cost of houses in these cities and, subsequently, densification of inner city areas is occurring. For units, 42.5% of suburbs within 20 kilometres of the Sydney city centre have a median price below $500,000, while in each other capital city more than 65% of suburbs have a median price below $500,000.
Looking at the most affordable suburbs for median house prices across each city, some clear trends emerge from the results. Most of the suburbs are located more than 10 kilometres from the city centre; the exceptions are the flood-affected suburbs of Rocklea in Brisbane and Risdon Vale in Hobart.
Click to enlarge
<a href="/images/stories/rpmay24.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rpmay24thumb.gif"></a>
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany.</a>
Cameron Kusher is senior data analyst at RP Data.
 
 
<div id="_mcePaste" class="mcePaste" style="position: absolute; left: -10000px; top: 561px; width: 1px; height: 1px; overflow: hidden;"><a href="https://www.smartcompany.com.au/index.php">https://www.smartcompany.com.au/index.php</a></div>
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Relative property bargains can still be found within 20 kilometres of CBDs: Cameron Kusher

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There was beer all over the dance floor and the band was playin’ rhythm and blues You got down and did the gator, and half an hour later, you were barfin’ all over your girlfriend’s shoes.
But the Greeks don’t want no freaks. The Greeks don’t want no freaks Just put a little smile on them rosy cheeks, ‘Cause the Greeks don’t want no freaks.
The Greeks Don’t Want No Freaks, The Eagles, The Long Run 1979
This is one of those sing-along songs, featuring Jimmy Buffett and the Monstertones as back-up, and yes, it really is about a frat party – the likes of which Glenn Frey used to gate crash – watch the movie Almost Famous to get the drift.
But still, the title somehow fits the current European quagmire.
Or does it? It maybe isn’t “all Greek to me” after all.
For mine, way too much attention is being spent on the PIIGS (Portugal, Ireland, Italy, Greece and Spain) of Europe, while not enough discussion is taking place – well, at least publicly – about the real forces behind a long-term united Europe, being the German/French alliance and demographics.  Europe cannot escape its demography. And the election of Francios Hollande (who? most Aussies might ask) last week as France’s new president is a potential game changer.
You see, the EU is – at its core – really about a Franco-German relationship and of late, France’s struggle for a more dominant role in European affairs at a time of German ascendency. And while this Franco-German consensus is immediately critical for Europe, it is demographics that are crucial for the EU’s survival. And the outlook isn’t very promising!
One of Europe’s many underlying problems (another is the rise of nationalism and populism – <a href="https://matusikmissive.wordpress.com/page/3/?s=%22The+EU%22">click here for more</a>) – and one that is completely divorced from the current political mess, is that the continent’s population is ageing rapidly. And to make matters worse, Europe’s youth are migrating overseas due to rising unemployment at home.
Across Europe it is fairly common for 50-somethings (and in many cases even 60-somethings) to outnumber teenagers. Not only is there insufficient money to pay for pensions, but 20- and 30-somethings do most of the consuming, and therefore drive most economic growth. Modern economies are reliant on this domestic consumption – something that is lost on Australia’s current federal politicians, too!
Fixing Europe’s economic problems isn’t a matter of simple accounting or belt-tightening. It isn’t just about Greece or the others PIIGS. It is really about restoring a “normal demography”, which requires a mass increase in the birth rate for a decade or so.  Even in the most aggressive case, this is a generational process, but more likely two – i.e. 50 to 60 years.
Europe’s days of economic growth do not have a bright future, regardless of whether France or Germany can agree on a common economic strategy. However, if France and Germany cannot get on the same page (or the rising trend towards nationalism/populism accelerates) then the underlying fissures within the EU will cause its current structure to breakdown.
It is somewhat ironic – just like the Eagles song that started this piece – that one of the EU’s more defining traits was its deliberate lack of passion. The EU also promised peace and prosperity. These thee Ps are now crumbling and with it the EU.  (<a href="https://matusikmissive.wordpress.com/page/3/?s=%22The+EU%22">click here</a>)
In short, there are no quick fixes here; the world will need to adjust. And sadly, as I will outline in another Missive soon, China faces similar turmoil.
We are definitely living in uncertain and unstable times.
 
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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Forget Greece, Europe needs to massively increase its birth rate

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The recent news that the aluminium smelt is closing in Kurri Kurri, a town in the Hunter region of NSW, is very sad.
My thoughts go out to the 350 or so workers who will be looking for new jobs or being forced to retire over the next three months as the business winds down.  The plant is blaming a lethal combination of prolonged record high trading of the Australian dollar and low metal prices. Ironically, the announcement coincides with the Australian dollar slump to a six-month low off the back of the situation in Europe, but the slump has come too late to help this business.
So how is this going to impact the local property market?   More importantly, will this impact the property market at all?  Of course it will, I hear them saying – but let’s take a closer look at this town and the underlying fundamentals.
Kurri is a small town with a population of just 14,000 at the last census.  However, its close proximity to much larger towns has made it a popular place to live for those who like the peacefulness of a small town.  It’s only 14 kilometres away from Cessnock, a major tourist and retail hub with a population of 46,000 and 13 kilometres away from Maitland– the fastest-growing inland town of NSW with a population of 63,000.
Kurri is certainly not located in the “middle of nowhere”.
So the big question is how many of the 350 people who lost their jobs actually live in Kurri?  I’m going to ask the local property managers this question to establish the possible impact on the vacancy rates. But will they need to vacate at all?
Can people still continue to live in Kurri and work elsewhere?  The answer is yes.
The saving grace for Kurri and hopefully the people who lost their jobs is the $1.7 billion dollar Hunter Expressway that is well under construction, currently employing about 800 staff directly on the project and more than 400 subcontractors.
This massive, four-lane freeway will have an interchange at Kurri.  This means that the expressway will cut driving time considerably from Kurri to the mining towns on New England Highway and also to Newcastle and the F3.  So people can still live in Kurri and work in the coal mines of Singleton – only an estimated 30-minute drive once the Hunter Expressway is completed – or even Muswellbrook, a further 40 minutes or so.  A short 20-minute drive will bring them to Newcastle.  Kurri is a more affordable rental market than Singleton, Maitland and Newcastle.  Having the interchange makes Kurri a very central place to live.
Then there is the undersupply of workers in the Hunter resource industries.   A quick look on one recruitment website reveals that there are 1,118 jobs available right now in the Hunter.  There has been an acute skills shortage for years with many businesses complaining that as soon as they train up an apprentice they are lured into the mines by well-paid jobs.  The Hunter Valley Research Foundation has reported that the region’s workforce grew by more than 8,000 in the March quarter.
The Hunter is a diverse area with thriving industries including tourism, agriculture, manufacturing, coal and mining, power generation and winemaking.
When one door closes, another door opens, so here’s to a bright future for the people of Kurri.
Jo Chivers is director of <a target="_blank" title="Property Bloom" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
 
 
 
 
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Kurri Kurri can survive the closure of its aluminium smelting plant: Jo Chivers

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About 70% of Australian households own their homes, according to Credit Suisse. This is a relatively high percentage when compared with other countries around the world.
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Source: Credit Suisse
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Australian home ownership at relatively high levels: Credit Suisse

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The property investment industry is growing rapidly, with well in excess of $500 billion invested by small investors in property in this country every year. To think that this industry operates completely without any kind of governance is beyond belief.
You can start helping to change this by writing to <a href="mailto:mbill.shorten@treasury.gov.au">bill.shorten@treasury.gov.au</a> and asking him why he refuses to do anything about regulation for the industry. When we had a Liberal government, I had made some great progress with Treasury in not only designing potential regulation, but having the government commit to implementing this regulation. The minister of the day, Nick Sherry, had made a public commitment to this pathway on one of my shows, and he had guaranteed me that the property industry would be regulated as part of ‘tranche two’ of the Credit Reform. The green paper referenced the property investment advice industry, and also committed to including it in the Credit Reform Legislation.
Once the white paper was in existence and accepted by parliament, this commitment had curiously disappeared from the agenda. Next, we saw a change of government and suddenly any intention to even consider such regulation disappeared. I have continuously tried to gain an audience with Financial Services Minister Bill Shorten to outline the problem, and he steadfastly refuses to acknowledge my existence, let alone the issue itself.
To give you an idea of the extent of the issue, here are some facts:
The property investment industry is completely without regulation. This means that anyone can wake up one day, decide he wants to be a property investment adviser, and set up shop in his own business, or working for someone else, giving you advice about property investing. There is no licence required, no education or training needed, and no one is supervising the activities of these people to ensure that you are being protected.
Some of these people provide advice only, while others, in an outrageous conflict of interest, actually sell you the property, too. In some cases, the company may have a real estate licence, however these licences simply provide ground rules about how property is sold and still leaves the entire issue of the advice surrounding these sales without governance. I recently reviewed the website of one of these spruikers who has a real estate licence, and the claim was that, while this person “technically” acts for the vendor according to the provisions of his or her licence, in fact the spruiker acts for you, the buyer, by giving you advice. If that’s not a conflict of interest, and most likely also a breach of their real estate licence, then I am not sure what is.
ASIC provides no supervision, and the Australian Financial Services reform does not recognise the activities of these property investment advice companies because a property investment is not recognised as a financial instrument. ASIC makes claims that it has the issue covered, since new rules allow the organisation to investigate “spruikers” who cross the line into actual financial advice, but this is a weak argument provided by a government department that simply cannot bear the thought of adding responsibility to an already stretched agenda. In truth, spruikers who do cross this line make up less than 1% of the players in the property investment advice industry, leaving 99% of them free to operate completely without rules, regulation or any kind of supervision whatsoever. 
If that frightens you, then consider this: property investment advisers also operate without any kind of professional indemnity insurance to cover their “advising” activities. Those with policies have significant exclusions, which limit their cover to activities which fall under legislative governance, such as finance broking. The reason for this is that the underwriters refuse to provide coverage for activities that are unregulated, and rightly so. What this means for you is that, if you suffer any kind of financial loss as a result of poor property investing advice, you have no capacity to recover that financial loss, as the adviser most likely won’t have the funds to compensate you!
And so, in case you’re not seeing the full picture here, this is how it looks:
If you are seeking assistance or advice from a “professional” property investment advice company or person to help you make what is most likely going to be the largest investment you will ever make, the company you approach will have no licence, most likely no education or training, and is not supervised by any government department or licensing body. They are not required to disclose to you any commissions they may receive from any sales made to you (and these can be as high as $40,000 per property sold), they can freely give you advice to invest or disinvest in any property or product that suits them, and, if it all goes pear- shaped, you have absolutely no regulatory framework under which to seek recompense, and no likelihood of recovering your losses from PI insurance.
If this alarms you as much as it does me, let’s get together and take action! We need a groundswell of support. We need letters to the government and support from the media. We need outrage by the very people who are not being protected to force the government into taking real action which once and for all creates the regulation within which these companies and advisers must operate. And, we need it now!
(note: some advisers have taken the trouble to become members of the not-for-profit industry association, PIPA and complete a diploma-level course. For now you can go a small way toward protecting yourself by asking questions about those you go to for assistance, and making sure that at the very least they are members of an industry association AND have completed adequate educational courses.)
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny </a>
 
 
 
 
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Alarmingly, there is no governance whatsoever surrounding the property investment industry

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Australian houses are not overvalued, according to a report into the current state of housing and mortgages by investment bank Credit Suisse.
The report questions the likelihood of a house price crash and says households can manage their debt obligations. 
Australian houses appear to be fully priced according to the authors of the report, analysts Jarrod Martin and James Ellis along with Omkar Joshi.
They base this view “on a range of usual metrics for assessing house price levels”, including house prices to income, house prices to rents, house prices to GDP, per capita value of the housing stock to household income
The report notes that housing affordability has deteriorated.
However it questions the argument that an improvement in the ratio of income to house prices will be achieved through a “a sharp and disorderly retracement of house prices” (a house price crash) rather than a “slow re-balancing of this ratio through real house price erosion or flat nominal house prices combined with on-going growth in household income”.
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Source: Credit Suisse
According to Credit Suisse, Australian household leverage is relatively high in both an Australian historical and in an international context – above that of both the <country-region>US</country-region> and <country-region><place>UK</place></country-region>.
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Source: Credit Suisse
However, it notes that as the RBA has previously stated household debt in <country-region><place>Australia</place></country-region> is mainly held by higher income households, with households in the top two income quintiles holding almost three-quarters of household debt. 
While the report says there is a risk that the relative resilience of Australian house prices will not be sustained in the future, it says there are “numerous arguments” cited as to why Australian house prices “are (and presumably should be) relatively high by international standards”. 
Some of these include: 
<ul>
<li>Australia is a highly urban society by international standards with a cultural preference towards living close to central business districts / coastal cities (limiting desirable land area in an otherwise large land mass country) such that Australia’s capital city house prices to income ratio is comparable with coastal city metrics globally; </li>
</ul>
<ul>
<li>Australian housing stock is relatively of high quality in nature and both relatively large and land-intensive by international standards; </li>
</ul>
<ul>
<li>the supply of housing stock in <country-region><place>Australia</place></country-region> has been excessively constrained in long-term by land zoning and development restrictions (concurrently in some recent years by accelerating population growth); and </li>
</ul>
<ul>
<li>the Australian taxation system is unusually generous with respect to residential dwelling investment, reinforced by a cultural personal investment bias towards the residential real estate.</li>
</ul>
Due to Australian banks being so heavily exposed to the residential lending market (<a href="https://mail.privatemedia.com.au/exchange/cknowlton/Inbox/wednesday%20flicker%205%20http:_xF8FF__xF8FF_www.mcgrath.com.au_xF8FF_buy_xF8FF_house-mermaid-beach-qld-4218_xF8FF_152394.EML?Cmd=openhttps://www.propertyobserver.com.au/mortgages/dark-cloud-risk-for">59% of bank loans are residential mortgages</a>), Credit Suisse says there is a strong connection between house prices and financial stability, noting “house prices have the scope to create financial system instability, and financial crises have scope to exacerbate house price declines”. 
But it says factors in favour of a stable mortgage and housing market include the overall strength of the macro economy and an apparently “increased consideration of house price inflation in RBA monetary policy deliberations in the wake of the financial crisis” and the extent to which “mortgage interest rate changes are being undertaken outside of cash rate changes”. 
It also notes the stable rates of home ownership in recent years in <country-region>Australia</country-region> compared with rising home ownership rate in the <country-region><place>US</place></country-region>, “widely seen as a factor exacerbating the subsequent delinquencies crisis”.
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