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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Building products group CSR says Australia's housing construction industry will remain in the doldrums for the year ahead.
It’s estimated total housing starts in Australia will fall to about 140,000 in the year to March 2013, down from the 148,300 in 2012.
The company made the comments on Wednesday as it announced its net profit fell to $76.3 million in the year to March 31 from $503.4 million the previous year.
Trading revenue fell to $1.8 billion from $1.9 billion.
"Excluding the global financial crisis and the introduction of the GST, this represents the lowest level of housing activity in the past 15 years," CSR said in a statement.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/csr.gif"><img src="/images/stories/csrthumb.gif"></a>
CSR said it expected total private detached commencements to remain steady around 90,000, with multi-residential starts expected to fall by about 10% to 50,000.
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Australian housing construction to remain in the doldrums for next year: CSR

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The North American and South American prime office markets proved the most enticing to global commercial property investors in the first three months of 2012, according to research by CBRE.
Prime office capital values in the Americas rose by 9.6% over the March quarter of 2012 compared with the March quarter of 2011.
This was actually lower than the 9.9% gain achieved by the Americas in the first quarter of 2011, but the region benefited from prime office returns decreasing in competing regions.
Notably for Australian commercial investors and landlords, Asia-Pacific capital values grew by 8%, making it the second most attractive region for investors – but less than half the 19% capital growth achieved in the first quarter of 2011.
CBRE says the Asia-Pacific office market softened during the first quarter of 2012 due to global financial market concerns as well as slower domestic economic growth.
The Europe, Middle East and Africa (EMEA) region was the poorest performing, with just a 0.7% gain in capital values.
CBRE global chief economist Dr. Raymond Torto says there has been a “marked increase in investor interest in the Americas’ prime properties over the last year” reflected in the latest index. 
“Last year at this time the Americas was showing respectable gains, but were far behind the 19% annual performance witnessed by the Asia-Pacific Capital Value Index.” 
 
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="650" colspan="3" valign="top">
CBRE Global Office Capital Value Indices Annual Growth Rates 
</td>
</tr>
<tr>
<td width="217" valign="top">
 
</td>
<td width="217" valign="top">
Q1 2011 
</td>
<td width="217" valign="top">
Q1 2012 
</td>
</tr>
<tr>
<td width="217" valign="top">
Global 
</td>
<td width="217" valign="top">
12.2% 
</td>
<td width="217" valign="top">
5.7% 
</td>
</tr>
<tr>
<td width="217" valign="top">
Americas 
</td>
<td width="217" valign="top">
9.9% 
</td>
<td width="217" valign="top">
9.6% 
</td>
</tr>
<tr>
<td width="217" valign="top">
Asia Pacific 
</td>
<td width="217" valign="top">
19.0% 
</td>
<td width="217" valign="top">
8.0% 
</td>
</tr>
<tr>
<td width="217" valign="top">
EMEA 
</td>
<td width="217" valign="top">
7.6% 
</td>
<td width="217" valign="top">
0.7% 
</td>
</tr>
</tbody></table>
Over the last year the Global Capital Value Index rose 5.7% while the Global Rent Index rose 3.4%.
According to CBRE, investors remain risk adverse and highly selective and are most willing to divert capital to high-quality, prime assets.
The report notes that while office capital values have been recovering for several years now, only the Asia Pacific Office Capital Value Index has surpassed its pre-recession peak and stands at 208.5.
Click to enlarge
<img src="/images/stories/cbremay161thumb.gif">
The Global Office Rent index remains 10.2% below its pre-recession peak value of 20 and the improvement over the past year has been modest, with a 3.4% growth rate. 

 
 
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North and South America best-performing prime global office market in first quarter of 2012: CBRE

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Shopping centre owner and landlord Westfield has reported “modest growth” in speciality retail sales in its Australian shopping centres for the first three months of the year. 
Comparable specialty sales in its Australian portfolio rose 1.1% over the March quarter compared with growth of 2.2% in Westfield London store and New Zealand stores and a 10.1% growth in the US. 
The group said for the year to March 2012, average specialty rent for the Australian / New Zealand portfolio grew by 3.1%.
“The first quarter of this year has been pleasing with the group’s operations performing in line with expectations. Importantly, we announced a number of strategic initiatives that we expect will enhance the group’s return on contributed equity and long term earnings growth profile,” say Westfield Group co-chief executives Peter Lowy and Steven Lowy.
“The productivity of our Australian portfolio continues to be high, with specialty sales of approximately $9,800 a square metre, near full occupancy and good demand for space in both existing centres and new developments such as Fountain Gate in Victoria and Carindale in Queensland.”
Speaking at today’s AGM Frank Lowy said the last year had been a period of stability for Westfield following the GFC, with the group weathering the crisis better than some of its competitors. 
Steven Lowy said that at the end of March, the global portfolio was 97.2% leased – with the United States portfolio at 91.6%, the UK at over 99% leased and the Australian/New Zealand portfolio remaining over 99.5%. 
“Last year we completed over 5,100 leasing transactions, or the equivalent of 10 large regional malls, across the entire portfolio. Approximately 3,000 of these leasing deals were to new retailers,” Steven Lowy said. 
“In the first quarter of this year, we have completed 1,100 leasing deals of which around 640 are to new retailers,” he added. 
During today’s AGM chairman Frank Lowy and Steven Lowy stressed the importance of malls being interactive and adapting to the changing needs of shoppers: 
“It is true that the retail industry is constantly changing. There are new types of retail, and the rapid take up of digital technology is changing how consumers think about shopping in all sorts of ways,” Steven Lowy said. 
“But I have witnessed constant change in the retail industry for more than 50 years. 
“The kinds of shopping centres we build today are unrecognisable from those of the 90s, let alone the 60s.” 
Steven Lowy said Westfield shopping centres needed to keep pace with the rapid evolution of digital technology to remain relevant. 
“We have introduced wi-fi to many of our centres and we are actively promoting our business online through the social media such as Facebook and Twitter. 
“As an example, when we opened Stratford in the UK last year, we used social media and online marketing techniques extensively in our launch campaign. 
“That campaign played an important role in helping us achieve over 1 million shopper visits to Stratford in the first week and an average of 800,000 customer visits per week since opening,” Steven Lowy said. 
Westfield expects 1.1 billion visits to shopping centres this year, generating spending of around $40 billion. 
“Our philosophy is to have very strong assets in very strong markets” Frank Lowy said, with the focus being on iconic and flagship projects such as the centres opened<a target="_blank" href="https://www.propertyobserver.com.au/retail/one-million-weekly-london-shoppers-buoy-westfield/2011110852254"> in London</a>, <a target="_blank" href="https://www.propertyobserver.com.au/news/westfield-to-sign-deal-at-rebuilt-world-trade-center/2011072850959">the World Trade Centre project in New York </a>and another project in in Milan.
Westfield announced to investors that its distribution for the 12 months was $1.1 billion or 48.4¢ per security, in line with its forecast at the start of 2011.
 
 
 
 
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With 640 new leases signed and rents up, Westfield records ‘modest’ sales growth

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I travel a lot for work and also try to take time out to see new places with my family, who have had a few health scares of late. For example, in the last four months I’ve been to the truly mind-blowing, six-star <a target="_blank" href="https://www.wolganvalley.com/wolgan-valley/en/reservations/offers/stay-three-pay-two/?cid=EKWolganValleyGoogle1165">Wolgan Valley Resort</a> in New South Wales twice.
Wolgan Valley needs to be seen to be believed. Emirates spent about $100 million building the place in one of the most aesthetically beautiful (and world heritage-listed) parts of the state. Frankly, I never thought that you would be able to find such majesty inland of Sydney. The first two pictures of Wolgan you can see were shot from my own Blackberry.
<img src="/images/stories/wolgan1.jpg">
<img src="/images/stories/wolgan2.jpg">
It’s expensive, no doubt: the rack rate is $1,900 per night, but that includes three meals for two people, and all drinks and standard alcohol. Every “house” comes with its own heated, indoor 10-metre swimming pool plus uber-luxurious bedroom, lounge room, bathroom and sprawling indoor/outdoor veranda. And don’t get sticker fright at the price: it includes loads of extras, like horse-riding, biking, and hiking, and the impressive general manager, Joost Heymeijer, is open to negotiating significantly better deals.
A few weeks ago a member of the family had a health fright, so I thought I would dig into the possibility of going to a “wellness retreat”. I did a fair bit of due diligence on the Golden Door, Gwinganna, and Gaia. I was looking for a place that possessed world-class facilities, was serious about its health beyond a simple “spa”, and yet not draconian in imposing its vision unilaterally on guests.
After wading through many third-party reviews – there is no more useful site than Trip Advisor – Byron Bay’s <a target="_blank" href="https://www.gaiaretreat.com.au/">Gaia Retreat</a> seemed to fit the bill. If you are wondering, “Gaia” means spirit of mother earth. And it’s exclusive, to be sure. Guests have included Pink, Delta Goodrem, Erica Packer, and billionaires like Lang Walker. It is also jointly owned by singer Olivia Newton-John and three other Australian heavies: Warwick Evans, Ruth Kalnin, and the in-residence general manager, Gregg Cave.
Now I am not normally a fan of domestic resorts, and have a working hypothesis that Australia’s cultural commitment to egalitarian ideals and iconoclastic resentment of authority make really top-notch customer service hard to deliver, <a target="_blank" href="https://www.propertyobserver.com.au/leisure/the-best-private-resort-in-the-world-with-prices-that-match-the-big-name-guests/2011092951737">unlike luxury Hawaiian retreat Kukio</a>.
But Gaia seems different. Situated at the highest point in the Byron Bay hinterland on 10 pristine hectares, Gaia has 20 villas, all of which meet the standards of a good five-star hotel. The two larger “suites”, which are shortly being expanded to six, are in the six-star league. It has an amazing spa with every imaginable treatment, dedicated yoga centre with gorgeous views, swimming pool, walking trails, gymnasium, and even an in-house koala.
<img src="/images/stories/wolgan3.jpg">
<img src="/images/stories/wolgan4.jpg">
Unusually for Australia, all the staff are exceptionally well trained, educated and experienced. I literally had my personal trainer, a boxing specialist called Damien, consulting with my nutritionist, who was guiding the chefs on tailor-made meals. The clincher, as always, is tenure.
I cannot remember speaking to any staff member who had not been working at Gaia for at least two years, and most have been there for around six.
The genius behind Gaia is two-fold: it is run by its owners, who are genuinely engaged with the property, and the attention to detail is, therefore, outstanding. My suite looked like it had been rushed off the pages of an interior design magazine.
The other strength is that in contrast to more hard-core health retreats, Gaia firmly believes in free will. They don’t offer coffee, but you can have it if you ask. Alcohol is available with meals. No activity is compulsory. And Gaia’s people seem to be sincerely committed to advancing your health.
A final comment is that it is relatively well priced. Prices are all-inclusive of meals/drinks. The flight from Sydney was an easy hour to Coolangatta, which was succeeded by a super-scenic 45-minute drive along the coast to Byron. If you want to detox, get fit and recalibrate your mind, Gaia’s worth considering.
 Christopher Joye is a leading financial economist and a director of <a target="_blank" href="https://www.ybr.com.au/savings/index.cfm">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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Wolgan Valley Resort highlights Aussie luxury resorts have a place, despite our egalitarianism: Christopher Joye

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International investors are likely to see Australia as a safe haven and pour their funds into the country if the eurozone collapses, according to former treasury secretary Ken Henry.

However, the flip side of this investment would be a rise in the Australian dollar, with repercussions for export-driven sectors of the economy such as manufacturing.

In an interview on the ABC’s 7.30 report, Henry said that if the “worse things happens [in Europe]” it would be quite possible that “Australia will be seen as offering something of a safe haven for global capital movements”. 

“That'll be the first time in the post-war period, but it's possible to imagine it now,” he said.

Asked if Europe’s collapse could be a good thing for Australia, Henry hedged his bets, saying that on the one hand it would make it easier for Australia to fund its current account deficit, but on the other hand it would mean “a high-valued Australian dollar, and as you know that's an issue already causing some concern for some sectors of the Australian [economy].”

In the current two-speed economy Henry said the high Australian dollar placed real pressures on industries like manufacturing, which are configured “on the assumption of 72-cent exchange rate”.

He also said that wage growth had been quite muted except for the mining sector, though wages earned by miners were “nowhere near the prices growth in the mining sector”.

He described the current mining boom as “Mark 2”, with the effects not being passed onto households in terms of their wages as they were in the first phase of the mining boom before the GFC.

“In the what is being referred to these days of Mining Boom Mark 1, that is the mining boom Australia experienced up to the GFC… There was a lot of revenue coming in, huge amount of revenue actually,” Henry said.

During “mining boom Mark 1” Henry said the Howard government was handing out a lot of money to households through big tax cuts and big increases in family payments, with the result that “households actually felt quite good”. 

“They felt that they were getting something from this mining boom and of course in this mining boom Mark 2 the revenue is simply not there and it's much more difficult therefore for governments to make people to feel good,” he said.
 
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Investor funds could flow into ‘safe haven’ Australia if eurozone collapses: former treasury secretary Ken Henry

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The top four most expensive home sales this week were all over the $4 million mark, according to RP Data.
Views were no doubt a factor for the buyer of number-one property 76/3 Macquarie Street in Bennelong, this week’s most expensive sale. The three-bedroom 202-square-metre harbourfront has panoramic views across Sydney Harbour, including picture postcard vistas of the Opera House, city, Harbour Bridge and Botanic Gardens.
It was sold by Savills agent Anthony Flood in conjunction with The Barron &amp; Dowling Property Group Double Bay agent Kate Dowling.
The week’s top sales were roughly evenly split between New South Wales and Victoria, with NSW properties appearing on the list four times and Victoria represented five times. The ninth property was a stately Northern Territory five-bedroom home with views over Fannie Bay.
1. 76/3 MACQUARIE STREET, SYDNEY, NSW, 2000, three-bedroom unit, sold on May 9 by Savills Sydney for $4.9 million
2. 50 FELLOWS STREET, KEW, VIC, 3101, four-bedroom house, sold at auction on May 12 by Jellis Craig Real Estate Hawthorn for $4.4 million
3. 162 MONT ALBERT ROAD, CANTERBURY, VIC, 3126, four-bedroom house, sold at auction on May 12 by Kay &amp; Burton Real Estate Hawthorn for $4,166,000
4. 6 FITZGERALD STREET, BALWYN, VIC, 3103, four-bedroom house, sold at auction on May 12 by Jellis Craig Real Estate Hawthorn for $4,025,000
5. 4/44 MONA ROAD, DARLING POINT, NSW, 2027, three-bedroom unit, sold at auction by 1st City Hasemer + Caldwell Eyles for $3.7 million
6. 15A WOLLOMBI ROAD, NORTHBRIDGE, NSW, 2063, four-bedroom house, sold on May 9 by Birch Lang and Company Surry Hills for $2.7 million
7. 17 NORTH TERRACE, CLIFTON HILL, VIC, 3068, three-bedroom house, sold at auction on May 12 by Jellis Craig Real Estate Clifton Hill for $2.52 million
8. 66 HUNTER STREET, STRATHFIELD, NSW, 2135, five-bedroom house, sold at auction by George Ellis &amp; Co Real Estate for $2.35 million
9. 74 EAST POINT ROAD, FANNIE BAY, NT, 0820, five-bedroom house, sold at auction on May 12 by Colliers International Darwin for $2.25 million
10. 367 DANKS STREET, MIDDLE PARK, VIC, 3206, five-bedroom house, sold at auction on May 13 by Greg Hocking Real Estate for $2.25 million
 
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Four of top 10 sales of the week above $4 million: RP Data

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When we look abroad we see all sorts of warning signs but we should not forget that the Australian domestic economy is getting a substantial stimulus. Julia Gillard and Wayne Swan are once again spraying money at lower-income earners, and they will spend it.  Australians are highly leveraged into the housing market so they are very responsive to falls in interest rates. This is a big help to middle-class Australia who are being hit by Canberra.  Not only have official rates come down but also there are clear Reserve Bank signals of further falls. Moreover the dollar has slipped, which will give some light to struggling service and manufacturing industries. From this week’s comment by Australia’s largest apartment developer Harry Triguboff it is clear that local buyers have returned to the apartment market. Harry Triguboff is clearly talking his book when he says the market has risen, but in the past when the market has fallen Triguboff has been just as frank so his track record shows when he calls a move you can believe it. The simple fact is that banks may be tardy lending to developers but they will lend to consumers for dwellings. And the apartment market is being boosted by mainland Chinese buying which is a sure sign that while the current indications in China suggest a downturn there is still great momentum and Chinese investors have money spend in Australia. Harry Triguboff believes the way to kick start non-mining Australia is to step up migration. I think that’s a great idea but I know there are many with a different point of view.  There is no doubt that building dwellings is an important part of non-mining Australia. The Reserve Bank was nervous about having strong dwelling activity at the same time as a mining boom but the limitations on bank finance mean that we are not going to see a boom. The greatest threat to the dwelling market is the large number of potential layoffs in the system and the fact that 47% of Australians are frightened about their job.  We will not escape if the Greek crisis blows up but the signs of life in the Australian dwelling market give hope that if Europe can hold it together and China minimises its growth rate decline we will come through in reasonable shape. A dollar fall will help.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
 
 
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Signs of life in Australia's housing market could provide fresh stimulus to the economy: Gottliebsen

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The Australian Taxation Office has recently released its annual set of Taxation Statistics  (<a target="_blank" href="https://www.ato.gov.au/content/downloads/cor00305922_2010TAXSTATS.pdf">you can see the whole report here</a>) for the 2009-10 financial year.  This is always a fascinating read (shame about the time it takes to be published, though), particularly the tables, which provide an insight about average taxable income across each of Australia’s postcodes.
I’ve provided a summary of the top earning postcodes below across both the capital cities and regional markets as well as those capital city postcodes where mean incomes are the lowest.  We’ve also put together a bunch of thematic maps, which are probably the best way to highlight the wealth trends across the capital cities.
The top earners are the usual suspects, mostly clustered around Sydney Harbour, the western suburbs of Perth and a few bayside/inner eastern suburbs of Melbourne.  Nationally there are 47 postcodes with a mean taxable income of more than $100,000; that’s 11 more than recorded across the previous financial year.  More than half (57%) of these high-income postcodes are located in Sydney, 21% are in Melbourne and 15% are in Perth. Canberra and Brisbane showed only one postcode each recording a mean taxable income of at least $100,000, while the only regional postcode made the high-earners list is  3441, which is home to the Macedon Ranges suburb of Mount Macedon.
Click to enlarge
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The highest-income postcodes outside the capital cities are typically located in resource rich areas like Queensland’s Bowen Basin and the Western Australia’s Pilbara. Click to enlarge
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The lowest-income capital city postcodes are primarily located in the outer fringes of Melbourne and Adelaide, with these locations comprising 40% and 35% respectively of the top 20 list for lowest capital city mean taxable incomes.  Even though these postcodes have comparatively low taxable incomes, you can see that each one has recorded an increase in mean taxable income over the most recent financial year. Click to enlarge
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Maps on page 2


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Click to enlarge Sydney
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Click to enlarge Melbourne
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Click to enlarge Brisbane
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Click to enlarge Adelaide
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Click to enlarge Perth
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Click to enlarge Hobart
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Click to enlarge Darwin
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Tim Lawless  is research director of<a href="https://www.rpdata.com.au/" target="_blank"> RP Data.</a>
 
 
 
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The richest and poorest postcodes in Australia: Tim Lawless

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The Reserve Bank‘s interest rate cuts can have mixed results at the top end of the property market.
The Reserve Bank gave us all a bit of a surprise with its recent rate cut of 50 basis points. But the impact of the rate cuts at the top end could be mixed.
The diagram below shows the progress of two identical hypothetical negotiations that started before Easter. Back then the difference between what the sellers wanted and what buyers were prepared to offer was $600,000.
<img src="/images/stories/malmay11.gif">
With the interest rate cuts, a couple of results could eventuate – especially at the top end where often there is only one buyer.
On the one hand, a lower interest rate may give the buyer confidence to offer a higher price, as long as he is feeling secure in his job. At the same time, if the seller was say overseas and had an exposure to currency movements, the interest rate change might make the seller nervous.
A large exchange fluctuation can alter the value of an offer more radically than any agent argy-bargy. So a seller at exchange risk may alter her price and help the deal and a buyer who is secure in his job may also help the deal in going a little stronger, as he finds borrowing to be marginally cheaper. With just a $100,000 difference between offer and expectation there may well be a deal done.
Alternatively, the events of the last few weeks may have the opposite effect. The seller may have looked at some of the recent strong sales on the top-end market and have lifted their expectations even higher, thus widening the gap. The buyer, on the other hand, may look at the interest rate cuts as an indicator of a struggling economy, and become more concerned about his future employment prospects, prompting him to reduce his original offer. Now the deal is even further apart, with a difference of $900,000 between offer and expectation.
The point of this hypothetical is to show how complex negotiations can be at this level, and how as a buyer you’ve got to navigate through a number of possible scenarios.
How do you get validation if you want to do more in the way of due diligence than take the selling agent’s word as gospel?
Personal research: At the moment researching the high end without being in the know has a higher degree of difficulty than an Olympic half pike from the high tower – there seems tremendous secrecy surrounding every sale. With secrecy comes its close friend “uninformed speculation“. And when you throw into the mix limited numbers of sales, inexperienced buyers can bake a very different cake when it comes to value.
Valuers: This is fast becoming a profession under siege as margins are cut dramatically by banks. This means cost-cutting internally, which can lead to a lowering of standards. And once habits of careful fact checking are replaced by wham-bam phone calls to those who have vested interests in rubbery figures, all of a sudden we no longer have credible valuations. Which is not to say that there are not some excellent valuers out there for the top end. But you need to question whether you should rely on those who have massive contracts with large developers, or who approach their valuations at 60 kilometres per hour with a Google maps mentality. Sure, they’ll fit in with what the selling agents tell you. And there won’t be any problems with the bank lending you the money. But if the figures you’re given are unreliable, you may have a big problem on your hands when it comes to resale.
Solution: Deal with the people who do the deals. Engage them to act on your behalf and ask them to justify and prove their selling or buying price thoughts. If the deal is big enough get verification though a reputable valuer – not one recommended by a selling agent, and not one who specialises in $400,000 Werribee homes – but a real one. The fee is between $3,000 and $4,000. In this low transaction and therefore weak information market they can be more valuable than a building inspector.
So how do you negotiate in this market?
When validation is not possible and the market is unclear going forward, you really need to be on your game when making decisions – presuming that good decisions are your aim.
So as boring as it sounds, be clear on your goals and whether they fit this market. For instance, buying a home with a short term time horizon and wanting low risk are almost mutually exclusive concepts right now.
Longe- term buying may well meet your emotional and financial goals.
Let’s skip the search strategies and some due diligence and get to pricing.
In this market its about price framing rather than price negotiation – by which I mean that haggling over $100,000 is really not the main game, it’s getting into the correct $1 million segment in the first place that’s the most important.
Mal James is principal of<a title="James Buyer Advocates" target="_blank" href="https://www.jamesbuyeradvocates.com.au/"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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Rate cut and currency changes could have mixed results for top-end property

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The rate of construction of Melbourne apartment projects is expected to slow due to projects taking longer to transition from marketing to construction, according to the latest research by real estate group Oliver Hume.
The group also forecasts the number of high-rise building approvals to halve over 2011-12.
According to Oliver Hume, the high number of active projects in part suggests a softening in the sector, “as absorption rates slow with projects taking longer to move to construction”
March quarter figures in the Melbourne Apartment Market report show that the number of apartment projects being developed in the metropolitan region has fallen below 300 for the fourth successive quarter.
Although there are fewer active projects, the higher number of apartments in each project expected to be fully developed could mean more units being marketed off-the-plan than in the previous corresponding quarter.
In total there were 295 active projects in the March quarter (the highest since the June quarter 2011), which if fully developed ("and more will than will not") will deliver around 40,100 apartments: compared with around 321 projects and 37,230 apartments in the corresponding quarter 12 months ago.
Of these 40,100 apartments, more than half – 22,000 – are currently under construction or already completed.
Five local government areas – Boroondara, Melbourne, Port Phillip, Stonnington and Yarra – contain more than 55% of all metropolitan Melbourne apartment projects, compared with 80% of all apartment projects in 2008.
Over the quarter a total of 35 new projects were released, injecting close to 3,000 apartments into the pipeline. 
During the previous quarter there were 36 new projects released, containing approximately 3,030 apartments. 
The most active market is the City of Melbourne, with 17,650 apartments, followed by Stonnington and Yarra. Boroondara and Port Phillip make up the top five.
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According to Oliver Hume, the median one- and two-bedroom entry prices for apartments are $366,750 and $502,000 respectively, with the price difference between one- and two-bedroom apartments continuing to drop. The difference is now only $135,500, down from around $151,000 six months ago.
Since 2008, the entry-level price of a one-bedroom apartment in metropolitan Melbourne has risen at an average rate of 2.4% a year, from $335,000 to $366,500. 
The entry-level price of a two-bedroom apartment has risen by 2.9% a year, from $450,000 to $520,000. 
The report found that only one in every five new projects contained some form of community facilities or amenities. 
Across all new releases, the median entry living area of both one and two-bedroom apartments is 44 and 64 square metres respectively. 
According to Oliver Hume, high-rise building approvals in Melbourne are expected to halve over 2011-12 compared with a year ago.
The real estate group says high-rise approvals will slip back to around 17% of all approvals, comprising a total of around 8,000 approvals. This is down from some 15,000 in 2010-11 and about the same as in 2009-10.
High-rise apartment approvals in Victoria peaked in 2010-11 to just over 60% of all multi-unit dwelling approvals and 41% of total approvals, with most of these developments occurring around the Melbourne CBD.
Andrew Perkins, national head of research at Oliver Hume, expects lower rates of approval for the rest of the year following the largest-ever spike in Melbourne apartment developments.
The drop in high-rise building approvals comes alongside an overall dip in multi-unit approvals with Oliver Hume forecasting multi-unit approvals in 2011-12 to slip back to 15,900 or 35% of all dwelling approvals compared to a dwelling approval peak of 24,400 in 2011-12.
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