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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Number of landlords with more than one investment property increased 5% from 2008-09 to 2009-10: ATO

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The Australian Bureau of Statistics (ABS) recently released demographic data for September 2011 which showed that population growth has stabilised over the year after falling for much of the past three years.
Over the 12 months to September 2011, Australia’s population increased by almost 320,000 persons (319,632). This is an improvement compared to the recent low of 312,016 over the 12 months to March 2011, however, it is much lower than the peak of 467,314 over the 12 months to December 2008. On the first graph, the dotted line represents average population growth over the past 30 years and the current rate of growth remains well above average.
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Across the states, Victoria has recorded the greatest numerical increase in population with almost 83,000 new residents. Population growth in Victoria, New South Wales and Queensland has accounted for 73% of the nation’s growth in population over the past year. Click to enlarge
<a rel="shadowbox" href="/images/stories/rpapril202.gif" title="Click to enlarge"><img src="/images/stories/rpapril202thumb.gif"></a>
In percentage terms, Western Australia has been growing at a much faster rate than all other states and territories, increasing by 2.6% over the year. To put this into context, the Australian Capital Territory has been the second fastest growing region, with the population increasing by 1.9% over the year.
Over recent years, the slowdown in population growth has largely been the result of a targeted strategy to reduce overseas migration by the federal government.
Over the 12 months to September 2011 net overseas migration was 172,498 persons. Although this rate of migration is below the peaks of 315,686 persons over the 12 months to December 2008, the annual rate has been increasing over the past two quarters. Although the rate of net overseas migration has eased over the last few years it remains well above the long-term average (121,499).
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The other component of population growth is natural increase (births minus deaths) and it remains quite high despite some recent easing. Over the year, around 147,000 more persons were born than those that had passed away. Natural increase has eased slightly in recent times after peaking at 155,082 persons over the year to September 2009 however, it still remains well above the long-term average levels of around 130,000.
Over the past 12 months, natural increase has accounted for 46% of population growth compared to 54% of population growth which was due to net overseas migration. Much more recent data on long-term arrivals and departures published by the ABS suggests that the rate of overseas migration is set to increase.
Over the 12 months the January 2012, the net annual long-term arrivals was recorded at 248,530 persons, and this figure has increased by 24.6% compared with January 2011. Given this increase, we would expect that net overseas migration will increase over the coming quarters and subsequently, population growth is also likely to increase at a faster rate. The likelihood of higher rates of population growth are likely to provide some debate, especially considering that many expect the unemployment rate to increase over the coming year. Skilled overseas labour is important especially within the mining and resources sector where there are labour shortages.
Of course, higher population does bring some potential problems, as it increases the demand for housing, the need for infrastructure investment and demand for essential services. There are also environmental impacts of population growth with more demand for electricity and gas, building materials for homes and more pollution.
On the other hand, increases in population, particularly skilled working age population growth, increases the tax base and helps boost revenues for all levels of government. It also increases demand for goods and services across the economy.
Population growth is a balancing act and both sides of politics have argued that they don’t believe the record high rates of population growth recorded over 2007 and 2008 were appropriate. Given this, it will be interesting to see how much further the rate of net overseas migration increases over the coming quarters.
Cameron Kusher is senior research analyst at<a href="https://www.rpdata.com.au/" target="_blank"> RP Data</a>.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
 
 
 
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Australia's population growth balancing act: RP Data's Cameron Kusher

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Amid all the interest rate commentary China has gone off the agenda a bit when comes to the likely impact on our economic future.
It was most noteworthy that Chinese buyers dominated the list of property transactions approved by the Foreign Investment Review Board, with some 5,000 approvals, mostly residential, amid the 9,770 approvals given to property acquisitions during 2010-11 year, according to the Foreign Investment Review Board (FIRB) annual report.
Just last week a Chinese mining tycoon and Australian citizen, William Han, chairman of China-based White Horse Australia Holdings Pty Ltd, <a href="https://www.propertyobserver.com.au/leisure/chinese-mining-tycoon-beats-clive-palmer-to-acquire-lindeman-island-with-plans-to-redevelop/2012042554429" target="_blank">beat Clive Palmer to acquire Lindeman Island for around $12 million</a>.
Cici Dong, head of the Asia-Pacific desk at Savills, says during the recent three-day Beijing Luxury Properties Showcase her agency concluded several sales with Chinese investors of vineyards in the Bordeaux region.
She says while there has been growing interest in the luxury asset, the real vineyard boom is still to come.
Apparently around 20 French chateaux have been bought by Chinese businessmen and even a government-owned company, in the last five years, Dong told the China Daily last month
She explained that for Chinese buyers, owning a French vineyard is a status symbol and sign of "good taste". And Bordeaux is still considered to be the best wine location.
That hasn’t stopped considerable Chinese investment in Australian vineyards, especially the NSW Hunter Valley, of course.
The China Daily notes Chinese investors are believed to have bought six Hunter Valley wineries last year, with several more in the pipeline.
No wonder Andrew Margan, president of the Hunter Valley Vineyard Association, told ABC news recently that the association was happy for fresh investment from overseas, as the wine industry in Australia was "at the bottom of the cycle”.
As we watch any signs of Chinese buyers pulling back, Westpac reported today that the luxury behemoth LVMH is reporting its mainland China sales growing at a slower rate than its sales elsewhere across the world.
But it’s not suggested that China’s uber-wealthy have suddenly lost their taste for conspicuous consumption, as it instead points to the price gap between luxury goods purchased on the mainland and elsewhere is considerable due to a VAT (17%) and a luxury tax (30%).
So China’s elites are simply shopping abroad and swelling luxury sales in that way.
Elsewhere Westpac did note the industrial bellwether Caterpillar has indicated that Chinese demand for its construction equipment has been soft of late, making it a further casualty of the Chinese government-sought slowdown.
 
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jchancellor-FAypfDUnLy

China’s wealthy are seeking luxury acquisitions abroad, particularly vineyards

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So we have a bunch of house price data out today. The ABS’s quarterly median detached house price index, which was published at 11.30am this morning, claims that capital city prices across Australia fell 1.1% in the March quarter. Confusingly, Australian Property Monitors (APM) reported a 0.9% increase in detached house prices over same period (but with a notably smaller +0.1% rise in the price of units). And APM and the ABS apparently use similar “stratified median” index methodologies.
In contrast, RP Data-Rismark have recently launched a radically different, and much more sophisticated, “hedonic” house price index technique that tracks changes in the value of the overall housing “stock” rather than simply the transactional sales “flows”. Only about 5% to 6% of the housing stock turns over each year, and these transactions can be an imperfect representation of the 95% of homes that do not trade.
RP Data-Rismark’s eight capital city “all dwellings” index, which includes both houses and units, registered a flat (actually up slightly) result over the first three months of 2012. Yet when we look at the detached house sub-series values declined by 0.1% over this period (units were up 0.9%).
Aggregating across the three major indices—with one up, one down, and one flat—one might reasonably conclude that home values were mostly unchanged during the quarter. This makes sense given that the RBA’s two rate cuts in November and December arguably helped galvanise an improvement in housing conditions over the first quarter of 2012.
A crucial rider to this is the fact that the banks have over February and April taken 50% to 60% of the December rate cut back. Beyond reducing the stimulus that the RBA’s rate relief would have otherwise injected into the economy, these independent pricing decisions by the banks—justified or not—have undoubtedly created substantial confusion in the minds of consumers in respect of the future level and direction of lending rates.
Today RP Data-Rismark also reported their results for the month of April. On a month-on-month raw basis, dwelling values across Australia’s eight capital cities declined by 0.8%. This movement is highlighted in the first chart below, which shows the daily index changes over the month of April. The second chart stretches this data back to the start of 2011 using a one-week moving average.
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What is especially interesting is that 100% of the decline experienced in April occurred in the second half of the month. Whereas over the first 14 days of April Aussie home values followed on from the trend set in February and March, yielding a small capital gain based on RP Data-Rismark’s method, they slumped by 0.85% in the second half of the month. What could have caused this dramatic intra-month change?
One possible explanation is the intervention of Easter, which caused a sharp decline in auction and private treaty sales activity over the period April 6 through 9, inclusive. This does not, however, shed light on the adverse price action that really began on April 16.
A likely more powerful explanation is the fact that one of Australia’s largest banks, ANZ, lifted all of its variable mortgage rates by six basis points on Friday, the 13th of April, which triggered a tsunami of negative media coverage and speculation that other banks would follow suit. This coincides perfectly with the inception of the price falls on Monday, April 16.
There are two other factors that probably contributed to the malaise in the last few weeks of April. The first is the fact that the RBA had said for months that it would not cut rates unless it received a “benign” inflation print when the first quarter inflation data were published on the April 24.
Christopher Joye is a leading financial economist and a director of <a href="https://www.ybr.com.au/savings/index.cfm">Yellow Brick Road Funds Management</a> and Rismark. The above article is not investment advice.
 
 
 
 
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ANZ rate rise may be behind RP-Data Rismark April house price easing: Christopher Joye

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Capital city house prices fell by 0.8% in April, according to the latest figures from RP Data and Rismark, leaving property values down by 0.7% compared with the same time last year. 
The disappointing figures offset gains made in February and March and come just a day after the Housing Industry Association revealed the number of new home sales in April fell to its lowest point in nearly 20 years. 
The results also come as the property industry all but begs the Reserve Bank for an interest rate cut when it meets this afternoon. 
The RP Data-Rismark Index showed values fell by 0.8%, although over the quarter values rose by just 0.3%. On a yearly basis, values are down by 0.7%. 
Five of the eight major capital cities saw values fall, with Hobart down 2.9%, Melbourne down 1.7% and Brisbane down 1.3%, while Sydney values fell by 0.3% as well. Darwin recorded the largest increase of 1.6%, while Canberra values rose by 0.2% as well. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/rp-data-rismark-march-1-daily-index/2012030153640">Over the year</a>, the largest decreases have been in Melbourne, down 7%, along with Brisbane down 6.4%, Hobart down 8.5%, and Adelaide down 4.2%. Sydney values have also fallen by 2.6%, along with Darwin prices, down 1.1%. 
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No capital city has seen values increase over the past year. 
RP Data research director Tim Lawless said in a statement the two interest rate cuts in November and December are “yet to provide a sustained stimulus to the market”. 
He points out transaction volumes remain steady at about 31,000 sales each month, compared with the sales rate through 2009 when about 45,000 homes were being sold. “The slowdown in buyer activity becomes quite clear,” he said. 
Rismark managing director Ben Skilbeck also said the stability in the first quarter declined in the last two weeks of April, coinciding with the decision by ANZ to increase interest rates. 
“With inflation figures now behind us, if the Reserve Bank does cut interest rates today and then again in June … home buyers will benefit from considerable affordability gains and the housing market is likely to see improved conditions building off the stability evident in the first quarter.” 
The premium housing market remains weak. Dwelling values in the most expensive 20% of suburbs in the capital cities have fallen by 5.7% in the 12 months to March. The most affordable suburbs, however, have only seen values fall by 2.3%. 
Despite the poor price performance, rents have improved. In capital cities, the weekly rent on a detached house is up by 4.1% over the year to April and unit rents are now up by 3.7%.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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pmcstafford-pr9eMARWoN

Home prices fall 0.8% in April: RP Data-Rismark

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Three very different projects claimed the top awards from the Australian Institute of Architects Sunshine Coast Architectural Awards.
Currimundi Beach House (pictured below) near Caloundra won House of the Year for Loucas Zahos Architects, which now has a collection of nearly a dozen AIA Queensland awards.
<img src="/images/stories/currimundi.jpg">
The house is a series of different-sized pavilions that lead from living and sleeping spaces to a canvas roof over a timber deck.
“The holiday house captures the essence of being away from routine, inviting relaxation, retreat and enjoyment of the spectacular beachfront location,” noted the judging panel.
<img src="/images/stories/viridian.jpg">
Joint winners of the Gabriel Poole Award for Building of the Year are the $300 million Viridian Noosa residence and resort (pictured above) – which fell into receivership last year – by JMA Architects and the Caboolture Hub (pictured below) by Peddle Thorp and James Cubitt Architecture.
<img src="/images/stories/caboolture.jpg">
The award for the Noosa resort, which is on a former banana plantation and bounded on one side by national park, was for its third stage.
“A direct response to the complex site is reflected in individual variations in each unit, focussing on rainforest, ocean or hillside views, while maintaining privacy. The strategy for materials is site responsive with lightweight villas occupying the challenging steep hillsides. The project displays a high level of attention to planning,” the panel commented.
The joint winner, Caboolture Hub, is a stylish cultural space with an art gallery, library and learning centre beside the town square designed by the internationally acclaimed architectural firm Peddle Thorp.
“A light-filled central atrium connects the primary spaces. Moving through the building, there is delight in the transition between spaces,” says the jury commentary.
House of the Year: Currimundi Beach House by Loucas Zahos Architects. Image: Adam Sebastian West
Joint Gabriel Poole Award for Building of the Year: Viridian Noosa: Stage 3 by JMA Architects. Image: Tom Kanchanasinith
Joint Gabriel Poole Award for Building of the Year: Caboolture Hub by Peddle Thorp and James Cubitt Architects. Image: Roger D’Souza
 
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Viridian Noosa resort named Sunshine Coast building of the year as receivership sales continue

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There were 1,751,679 property investors declared to the Australian Taxation Office in 2009-10, representing one in seven taxpayers.
It represented 59,235 more investors that the 2008-09 financial year.
The investors grossed $28 billion in rental income, up from the $26 billion a year earlier.
The majority of individuals – 72.8% – had an interest in just the one rental property.
And while the latest ATO revealed that Australia is still very much a nation of loss-making landlords, negative gearing claims shrunk.
Total losses on investment properties were $4.810 billion in 2009-10, or $2,746 per property investor.
It was down from $6.528 billion ($3,857 per investor) in 2008-09.
Of individuals declaring net rental income, 80% claimed rental interest deductions.
For the 2009–10 income year, 63.4% of individuals with net rental income reported a taxable loss (net rental income less than zero) from their rental property. This equated to 1,110,922 investors.
Of these negatively geared investors, nearly three-quarters earned (total income) less than $80,000 in 2009-10, and the average loss was $9,132 per negatively geared investor, or $176 per week.
 
 
 
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One in seven taxpayers a landlord, with most making a loss: ATO

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Two weeks in a row now I’ve written about affordability issues seriously affecting our home-buying market – principally first-home buyers who, without some kind of family assistance to help with a deposit, often find themselves on the wrong side of the real estate ladder.
Call me a pessimist, but when it comes to Australia’s housing market, if often seems like an insurmountable problem that successive governments find “too hard” to change within their short-term outlook.  It’s not through lack of educated advice.  We’ve had the Henry Tax Review that recommended changes to negative gearing, which, as I pointed out last <a href="https://bit.ly/IIWx0X" target="_blank">week</a>, needs to be scaled down to ease inner-urban inflation.
In addition, various investigations have been made into the problem of effectively increasing affordable housing stock – such as the <a href="https://mckellinstitute.org.au/" target="_blank">McKell Institute's</a> Homes for All report.  However, they all call for changes that risk polarising opinions and shortening terms in power and as with negative gearing, pressure for policy change continually falls on deaf ears.  Therefore, instead we tend to see solutions employed to bandage over the issues rather than providing any long-term outlook.
Measures such as first-home owners’ grant, which result in quick bumps in inflation followed by fairly lengthy periods of correction, seemingly provide short-term optimism, but over the long term simply escalate the underlying issues of affordability.  Other initiatives such as the national first-home buyers’ savings scheme are worthy ideas, however it was set up in such a way that when first introduced, stringent conditions initially placed limitations on home buyers’ options, thereby deterring significant take up.  Although improvements have since been made, poor marketing and less than a 5% take-up has resulted in many banks withdrawing the option all together.
Of course, you could choose to travel outwards and live in paddock land where real estate is cheaper and houses generally bigger.  However, as numerous media reports have <a href="https://bit.ly/IIZ5MH" target="_blank">publicised</a>, the woeful lack of community facilities and long commute times to inner-urban employment centers have allegedly resulted in serious medical conditions such as obesity and depression.
OF course, all of this is only going to affect you if you’re a first-home buyer.  Second-home buyers have existing equity to assist them up the ladder, and investors sit top of the pile with generous tax incentives and an increasingly tight rental market to assist cashflow.  The Age recently <a href="https://bit.ly/IIZzCo" target="_blank">highlighted</a> the lengths some will travel to run loops around the tax system, with a proportion of investors allegedly structuring loans to divert  rental income from their investment properties directly into their “home loans,” thereby clearing the way to claim a larger slice of tax-deductible expenditure from payments on their investment loan.
There are all sorts of stories of those who try to beat the system. It wasn’t long ago we heard of stories of those illegally claiming the <a href="https://bit.ly/JGSBPH" target="_blank">first-home owners’ grant</a>.   Furthermore, Australia’s obsession with seeing housing as a model merely for investment has managed to reach such lengths that we now have a <a href="https://www.propertyobserver.com.au/residential/rp-data-rismark-march-1-daily-index/2012030153640" target="_blank">daily house price index</a> specifically modeled to be openly traded on the stock exchange, allowing punters to “bet” on short-term price movements, encouraging the continued obsession with property speculation.
Land banking is another wondrously spruiked initiative – not so bad if you’re securing an older-style house in rentable condition and enabling a tenant to live in the home until it’s either sold or developed.   However, we have no indication on numbers of inner-urban land sites purchased by investors who allow derelict property to sit vacant whie waiting for population growth to inflate the investment as the surrounding finite land gets subdivided into smaller and smaller lots.  The UK market is fast getting initiatives in place to combat this <a href="https://bit.ly/IIZLlk" target="_blank">issue</a>; however, it took significant media and people power to start the process rolling.
Recently Robert Doyle – lord mayor of Melbourne – took to the battle ramps to penalise owners of un-used, un-livable, property who allow the homes to sit<a href="https://bit.ly/IIZQ8q" target="_blank"> vacant </a> for years on end.  The owner of a derelict site in Melbourne’s CBD – the old Savoy Hotel on the corner of Bourke and Spencer streets – was approached by the council to turn the area into a playground until the site is sold.  It would enable the land to at least be used by the community until a decision has been made. Needless to say the owner turned down the proposal, preferring to let his eyesore fester. Melbourne City Council is now under pressure to employ a new rates system that will penalise the behaviour. It sounds hopeful, however hope and good intentions are easy to sell and as we all know, often seemingly hard to implement.
However, out of all the models of investment that inspire healthy, contentious debate, there is nothing quite as igniting as foreign ownership of Australian assets – and in particular, residential real estate.  In the latest annual financial report from the<a href="https://bit.ly/IJ08w2" target="_blank"> foreign investment review board</a>, we learn that in 2010-11 10,293 proposals were received, of which the majority (9,771) were approved for residential real estate.  There is a spike in the figures between 2010-11 compared with 2008-09 simply because hotly contested changes to the rules for temporary residents wishing to purchase property were relaxed by then prime minister Kevin Rudd in the previous year.  Therefore we have no idea of the 2008-09 figures, which – considering relaxation of requirements – were no doubt higher.
Despite the recent doldrums, foreign investment in residential real estate is the playground of the wealthy.  Recently a report by <a href="https://www.colliers.com.au/" target="_blank">Colliers International </a> outlined that with “an unemployment rate of 5.2%, annual GDP growth of 2.5% and higher yields for prime-grade assets, compared to other global markets’ Australia’s property market is viewed to be particularly attractive”.  <a href="https://www.cbre.com.au/" target="_blank">CBRE</a> –  “the world’s largest commercial real estate services firm” – earlier this year reported in The China Daily that “more than 1,200 apartments were either planned, being marketed or were under construction by Chinese companies in Australia in the fourth quarter of 2011”.  Accordingly, the company goes on to say: “Foreign developers made up about 30% of the Australian market last year, and China took up 9% of that – an increase over previous years.”
Asian buyers are active in various markets across the globe and principally in Australia because we possess something they don’t have in China – “freehold” laws.  In China, purchasing residential real estate not only requires large deposits as a down payment (some 40% to 50%), the laws surrounding Chinese property ensure there is no private ownership of land, only “rights” to use that land and no guarantee it won’t be whipped away by the government if so desired.   Therefore, as a sales agent from J P Dixon in a recent <a href="https://bit.ly/IJ0G4Y" target="_blank">‘China Daily’</a> report so eloquently said: “"Unlike in China, once a buyer purchases property in Australia, it's theirs forever and can be passed down from one generation to another."
When you read the requirements published by the FIRB for the purchase of established residential real estate in Australia it seems very straightforward.  For established dwellings, there must be a commitment from temporary residents to use the property as housing and if not seeking permanent residency in <country-region><place>Australia</place></country-region> at the end of their term, sell the home.  Foreign relatives may purchase on behalf of those with temporary visas under the same requirements.  Companies can also purchase established dwellings as long as the property does not sit vacant for more than six months. If so, it must be advertised and leased on the open rental market.  The application process is simple.  An online form is used and a few boxes need to be ticked requiring the purchaser to disclose intentions for the home.  As can be seen from the figures, putting aside those who withdrew applications, only 42 applications for residential real estate were rejected. Huge numbers are clearly taking advantage of the ability.
It’s interesting however to ponder how many fall through the net. As much as property has been in the doldrums of late and even accounting for our strong Aussie dollar, due to the shortage of land surrounding our capital city locations, property is viewed as a low -risk investment and a safe haven for foreign investors to “bank” their wealth.  In an economy that’s performing as well as ours in comparison to Europe and the USA, coupled with a shortage of live able desirable land plus strong population growth, the prospect of losing money in a property investment long term is a low-risk proposition.
I know from experience in my own field of work, enquiry from the foreign market – in particular Asia – is in abundance, and seeking FIRB approval seems to be a simple online  “take my word for it”,  “box-ticking” process.  For example, those who don’t employ the services of a buyers’ agent (most of whom will check if the client has a legal right to purchase for reasons of liability) will find that when purchasing established or new property – they are not asked for ID when filling in a contract, or evidence they are an Australian citizen or even permanent or temporary resident!  All that most agencies require on a real estate contract is a signature and deposit cheque for – “ideally” – 10% of the purchase price.
A solicitor or conveyancer acting on someone’s behalf is not required to check his or her viability to purchase Australian real estate. Even for those who have been approved by the FIRB  at the present time, there is seemingly no follow up process to ensure the “box-ticked” rules are being adhered to. All we are told in the FIRB financial review is the board is “moving toward a systemic series of targeted investigations of non-compliance by foreign investors.”
Therefore, at the present time, who checks if a property has been sitting vacant for six months or more?  Who establishes whether a home purchased by a temporary resident is sold when they leave the country or simply sits vacant?  In view of the numbers, ongoing regulation under the current system would require significant manpower and considering proof of ID is not a usual requirement when buyers purchase a property, keeping tabs on those who never applied for FIRB approval in the first place would likely fall through the net of observation.
Having said this, in Australia, simply having rules governing foreign investment of established residential real estate is a step ahead of other countries that have no special requirements.  In London for example, anyone can purchase property and the luxury real estate market is booming. Last year a penthouse apartment was sold in Knightsbridge for £136 million and throughout the course of 2011 over £4 billion was transacted by foreign purchasers in the London market, costing the treasury over £750 million a year. Other countries such as Canada and the USA also have no restriction.  In light of this, we should consider Australia on the front foot.
There’s no getting away the fact we sit top of the pile when it comes to issues of unaffordability in the housing market, we have falling numbers of home owners and increasing numbers getting stuck on the rental ladder.  It’s been principally caused by poor planning policies, squashing our population around the capital cities where prices are out of reach for a growing majority.  It’s one of the many reasons we’re heading into a crisis in terms of rental accommodation and public housing.  A shameful position for Australia to find itself in, with larger proportions of our population living in conditions more suited to Third World developing countries than a leader on the world stage.
It’s an issue of many parts and I see nothing wrong with encouraging foreign ownership if it’s going to help increase new supply. However we know from the figures, purchasing established real estate is the preference of the largest percentage of property investors (including foreign investors looking for capital growth) and therefore it stands to reason, to allow more first-home buyers into the market, we should be limiting competition in this sector to slow down inflation and ease supply.
Good supply of rental accommodation is always important, but let ownership of established stock be closely monitored to limit imbalance in the marketplace. If the ability to monitor foreign ownership of established stock – ensuring it’s being utilised in line with current policy - isn’t there, it’s arguable whether we should allow it in the first place?
Real estate prices rising above inflation are not good for the home buyer – only for the seller looking for a windfall, or the speculative investor.  Let’s keep housing’s primary purpose top of mind when designing policy initiatives and ensure our limited established stock and precious inner-urban land favours those who require a roof rather than a speculative investment.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://bit.ly/I7SGaw">The Circle</a> and a senior consultant for <a href="https://www.nationalpropertybuyers.com.au/">National Property Buyers</a> servicing the needs of property owners Australia wide.
 
 
 
 
 
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Foreign investors banking wealth in Australian real estate and hurting affordability

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Commercial properties are mainly a longer-term investment, bought for their regular high yields — as well as for good capital growth over time.
Even so, an investor with some knowledge and experience can easily find properties able to be improved and then on-sold for a quick capital gain.
Typically, this would involve improving the income flow from the property, and also the security of that income — thus boosting the property's overall appeal and value.
So, what are your options?
There are various ways you can do this. But the simplest strategy would be to buy a run-down property and renovate it.
Alternatively, you might also be able to find a property with a lease that does not reflect current rental. Renegotiating that lease would lead to a higher rent, boosting the value of the property. Longer leases and better-quality tenants will always make a property worth more.
You may also come across properties that have been poorly managed. For example, a block of shops might have several vacancies, or tenants who attract little business. Making the tenancy mix more appealing tends to attract better tenants and brings in higher rents.
Simply spotting opportunities in improving neighbourhoods, such as inner-city suburbs enjoying a growing number of upmarket residents, is another good short-term strategy.
With experience, you might look to buy vacant buildings, "trick them up" and then lease them out. Using a little imagination, you can easily discover ways to completely change the use of a property — turning a warehouse into a restaurant, for example, would boost its value.
Bottom line: Timing the market is another viable short-term strategy. As with the share market, commercial property can go through periods when values may not change much, followed by periods of sharp appreciation.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Short-term strategies for commercial property investment

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Peterborough in South Australia’s south east topped the list of the state’s localities with the highest yields for houses. There were four localities with yields over 6%.
<table width="355" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="104">
Locality
</td>
<td valign="bottom" nowrap width="107">
Median Rent ($)
</td>
<td valign="bottom" nowrap width="144">
Gross Rental Yield (%)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="104">
<a target="_blank" href="/news">Peterborough</a>
</td>
<td valign="bottom" nowrap width="107">
140
</td>
<td valign="bottom" nowrap width="144">
8
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="104">
<a target="_blank" href="/news">Elizabeth North</a>
</td>
<td valign="bottom" nowrap width="107">
240
</td>
<td valign="bottom" nowrap width="144">
7
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="104">
<a target="_blank" href="/news">Port Pirie West</a>
</td>
<td valign="bottom" nowrap width="107">
175
</td>
<td valign="bottom" nowrap width="144">
7
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="104">
<a target="_blank" href="/news">Whyalla Norrie</a>
</td>
<td valign="bottom" nowrap width="107">
290
</td>
<td valign="bottom" nowrap width="144">
7
</td>
</tr>
</tbody></table>
Source: RP Data
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