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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One of the great mysteries of real estate is the lack of strong rental growth in a land that allegedly has a chronic housing shortage crisis.
The latest rental report from Australian Property Monitors – which covers the eight capital cities – records falling rentals in some markets, zero growth in most and small increases in a few.
The only market to deliver rent rises consistent with the so-called dwelling shortages is the Darwin housing market.
Everywhere else in capital city Australia, it’s all about stagnation. This mirrors recent results with house and unit prices.
How can that be in an under-supplied market?
Here’s the answer: the shortage claims constitute the number-one furphy in Australian real estate.
Economics 101 tells us that where there’s strong demand for a product which is in short supply, prices rise. If prices are not rising, then we can conclude that demand is weak and/or that there is plenty of supply. Or that the normal laws no longer apply.
There are a few places around Australia that do have genuine shortages of dwellings. They’re not the capital cities – they’re in the regions, primarily those where life is all about the resources sector.
Gladstone has a genuine shortage and rents are increasing is significant increments. It’s become a major issue in the Queensland industrial city, particularly for households that aren’t earning the big money in the resources-related projects.
Mining towns in Queensland’s Bowen Basin like Moranbah have had rents rising so high that typical rental yields have topped 15% – a number I haven’t seen in my 30 years researching Australian real estate – prompting BHP Billiton to spit the dummy and refuse to pay the $2,000-plus weekly rents the market is demanding.
In Port Hedland and Karratha, which service the iron ore mining projects of the Pilbara region in WA, typical weekly rents are around $2,000 a week. The federal inquiry into the use of fly-in-fly-out workers has been told that it costs major mining companies $100,000 more annually to accommodate a worker in Port Hedland than it does to fly them in from Perth for regular work shifts.
That’s the outcome you get when there really is a shortage of dwellings and strong demand.
But we’re not seeing anything like that in our capital cities.
The APM Rental Report finds that in the March Quarter there was no change to house rentals in Sydney, Melbourne, Brisbane or Perth, plus a small decline in Adelaide and a 2% drop in Canberra.
Darwin and Hobart were the only cities to record increases in house rents in the quarter.
There was an even more mediocre outcome with unit rents: declines in Sydney, Canberra and Darwin, plus no change in Melbourne, Brisbane, Adelaide, Perth and Hobart.
Looking at house rents on a yearly basis, Melbourne and Adelaide both recorded small declines. Sydney, Brisbane, Canberra and Hobart each had small annual increases between 1.5% and 2.7%. Perth houses rents grew 3.9% and Darwin was the only capital city to show significant movement, with house rents up 11.8%.
There was no meaningful movement in apartment rents anywhere. Hobart’s median decreased, and there was no change in Sydney, Melbourne and Adelaide. There were minor rises, less than 3%, in Perth, Canberra and Darwin. The biggest movement for unit rents was a 4.3% rise in Brisbane.
These are not figures to set markets alight or compel investors to dive in to buy capital city property.
It all reinforces one of my recurring points: that the best places to invest are found outside the capital cities, where prices are cheaper, returns higher and capital growth prospects better. The regions include locations that really do have housing shortages.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
 
 
 
 
 
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terryryder-YECXbqmri2

The so-called chronic housing shortage is the number-one furphy in Australian real estate: Terry Ryder

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Canberra house prices fell sharply in the second half of 2011, though the market performed better than Melbourne, Brisbane and Perth.
SQM Research director Louis Christopher expects Canberra house prices to fall further in 2012.
“There will be no major recovery in house prices in 2012. Stock levels are rising, though they are not as high other cities,” he says.
<img src="/images/stories/clockcanberrahouses.jpg">
Time: 5.30
The Canberra market is heavily reliant on demand for housing from civil servants, and Christopher warns that if the government tries to get the budget back in surplus by cutting back the civil service this could be bad news for the property market.
Century 21 chairman Charles Tarbey similarly observes that “the uncertainty of the Labor government’s position could see the property market [in Canberra] stagnate for some time”.
Population: 358,000
Median house price: $555,000
House price growth in February 2012: 2%
Annual house price growth to December 2011: -2.5%
Annual house price growth to July 2011: 3.8%
Rental yield: 5.8%
 
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lschlesinger-FZcF9M3vE6

Canberra house market at 5.30 amid uncertainty: Experts

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Lindeman Island in the Whitsundays has been bought by William Han, chairman of China-based White Horse Australia Holdings Pty Ltd and non-executive director of Western Australia's Padbury Mining, for around $12 million.
Han has plans to redevelop the island, but it could be up to two years before Lindeman Island reopens.
Han acquired the resort island from French chain Club Med, which bought it for $15 million in 1990 and had spent the last two decades developing and upgrading the location.
Club Med shut the resort down in January due to a mixture of poor visitor numbers, burdensome regulation and a turndown in the leisure travel market, one industry representative has said.
Han saw off a number of strong bids including interest from mining magnate Clive Palmer and other Australian high-net-worth individuals.
CBRE Hotel’s Wayne Bunz, who negotiated the sale of Lindeman Island alongside Paul Nyholt, says it could take between 12 months to two years before it reopens for business.
Bunz and Nyholt also negotiated the sale of <a href="https://www.propertyobserver.com.au/leisure/bedarra-island-sells-to-queensland-s-charlton-hotel-group/2011112252493" target="_blank">Bedarra Island Resort in far north Queensland to the Charlton Hotel Group last year.</a>
Bunz tells Property Observer there was greater interest in Lindeman Island than Bedarra Island because of its proximity to Hamilton Island, which receives about 40 flights per week.
“In the first round we had 11 bids and 200 enquiries,” Bunz says.
“You always do, people come out of the woodwork when an asset like this comes up for sale.”
“Clive Palmer was one of the bidders, and there were also a fair few from Melbourne,” he says.
In a statement Han, who is an Australian citizen, said he would "work hard" to revive the island's fortunes.
"White Horse is now examining how to reposition Lindeman as an attractive tourist destination, but the resort has been through some challenging times," Han said in the statement.
“We are looking closely at a range of options to reinvigorate the island but it will take some time to assess the best way to move forward."
 Han said it was the Group’s intention that the Lindeman development would be run by a professional resort management company.
“We are committed to resort developments that are in harmony with the natural landscape, with high environmental values,” Han added.
Lindeman is a 584 hectare leasehold island which is located on the Great Barrier Reef approximately 40 minutes by air from Cairns International Airport.
The Han family White Horse Group owns a large outdoor advertising network, along with property and resort interests.
Bunz says the new Queensland government’s focus on re-establishing Queensland as leading tourist destination is encouraging more opportunistic investors.
Another iconic Queensland resort, <a href="https://www.propertyobserver.com.au/leisure/sunland-lists-gold-coasts-palazzo-versace-after-company-profits-slump/2012042354413" target="_blank">the Palazzo Versace hotel on the Gold Coast</a>, is also up for sale for $80 million and is expected to be sold to Asian interests.
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Chinese mining tycoon beats Clive Palmer to acquire Lindeman Island, with plans to redevelop

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The <a href="https://www.propertyobserver.com.au/queensland/mine-closure-expected-to-bring-down-rents-and-prices-in-dysart-queensland-agents/2012041854299">Dysart fracas a week or two ago</a> reinforces my long-standing advice to those foolish enough to ask me: “You shouldn’t buy property – regardless of the current returns – in one-horse towns”.

In fact, I will go further and suggest that buying in any town with fewer than five pillars of economic growth isn’t a wise long-term decision. Why five? That’s so that if one of the pillars gets knocked down, then usually the place can still get by. Think of it like a table with five legs.

The more economically diverse the location is, the better, if you ask me. Capital cities are well-supported by economic multiplicity, and it is better still if they have a nexus with resources including mining, like Brisbane.

But major regional centres are also economically diverse; and again, those with a strong connection to resources offer much sounder investment fundamentals than “fewer-horse” towns. Yes, you might miss out on some extraordinary rental returns and capital growth, but such returns only take place because the investment is high risk. It is called “extraordinary” for a reason.

Give me the more garden-variety residential investment returns any day. I have enough problems sleeping at night as it is.

Townsville is a “10-horse” town, and its economic foundations are evenly spread.  No one industry section holds more than 13% of its employment.  Mackay has eight pillars of growth, and mining isn’t the largest one. Ditto for Toowoomba. Gladstone has six, as does Rockhampton, Bundaberg, Hervey Bay and Cairns. Hervey Bay, Cairns and to some degree Bundaberg have too much exposure to poor-performing industry sectors like tourism, retail and new construction and not enough to the muscle industries, such as health, education, mining, transport, storage and defence.

The Sunshine and Gold coasts – to some degree – are suffering from the same cold.

To find out where we think each regional market is positioned, click <a href="https://matusik.com.au/chartsDetail.php?Next-stop-Brisbane-16">here</a>.

For mine, Brisbane and Townsville are the two markets to watch in Queensland over the next couple of years. My writings about Brisbane are now somewhat old hat.

<a target="_blank" href="/news">Townsville</a>, as well as having 10 economic pillars of support, also holds one of Queensland’s most strategic assets – the Port of Townsville.  Did you know that $2.1 billion worth of goods are shipped through the Port of Townsville every year?  That is two and a half Instagrams – or to us ordinary folks, a thousand million (yep, that’s nine zeros).

The Townsville Airport now supports 95 flights per week and can take any sized aircraft.  Combined with both ports, two rail and freeway networks, Townsville is the hub of north Queensland – the true “CBD of the north” if you ask me.

In addition, there is $1.25 billion worth of infrastructure projects underway, including 30,000 square metres of new office space. Townsville holds more government and defence personal than any other place in Queensland, outside of Brisbane.  About 25,000 tertiary students study at James Cook University or Barrier Reef TAFE and despite cyclones, the high Aussie dollar and the general economic malaise, 850,000 people visited Townsville last year.

And to top it all off, Townsville, outside of the capital cities and their immediate surrounds, is the fastest growing urban area (in terms of actual population) in Australia.

But (and there is nearly always a “but” these days) the locals cannot see the forest for the trees.  And I am finding this to be a common occurrence across the country these days.

Townsville locals will rush off to buy in a nearby “one-horse” town, but won’t give blue-chip assets in their home town the time of day.  Strange, indeed.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
 
 
 
 
 
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michaelmatusik-49YzLvdmNv

Garden-variety investment returns in places like Townsville are better than extraordinary growth – and risks

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Across all capital cities, the greatest proportion of suburbs have a median house price of between $300,000 and $500,000, while less than 9% of suburbs have a median house price over $1 million.
This analysis looks at median unit prices across those capital city suburbs that have recorded at least 10 unit sales over the 2011 calendar year.
Across the combined capital cities, 18.1% of the suburbs have a median unit price below $300,000. The majority of capital city suburbs have a median unit price between $300,000 and $500,000 with almost 60% of all suburbs sitting within this range.
In comparison to the detached housing market, there are many more options for the price-sensitive purchaser within the unit market. Although there are more options across the combined capital cities, there are no suburbs in Darwin with a median unit price below $300,000 and only around 1% of suburbs in Canberra have a median unit price below $300,000. Across every other capital city at least 10% of suburbs have a median unit price below $300,000.
The more affordable price points and ability to own closer to the city centre is a large reason why we believe that demand for inner-city apartment living is increasing.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpapril251.gif"><img src="/images/stories/rpapril251thumb.gif"></a>
Within a 10-kilometre radius of each city centre the opportunities to purchase units below $500,000 are much more abundant than they are to purchase detached houses. Across all cities, 69% of suburbs within 10 kilometres of the city centre have a median unit price below $500,000 and each individual city has at least 20% of suburbs with a median price below $500,000.
Looking at median unit prices below $700,000, 94.6% of all suburbs are priced below $700,000 and across each capital more than 80% of suburb median unit prices fall below this level.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpapril252.gif"><img src="/images/stories/rpapril252thumb.gif"></a>
Across those suburbs located between 10 kilometres and 20 kilometres from the city centre, suburbs with median prices between $300,000 and $500,000 are most abundant, accounting for 64.9% of all of these suburbs. When you look at all suburbs with a median unit price below $500,000 it equates to 78.3% of all suburbs within 10 kilometres and 20 kilometres of each capital city. Across each individual capital city, the proportion of suburbs priced below $500,000 in this area varies from 66.1% of suburbs in Sydney and Melbourne to all of the suburbs in Brisbane, Adelaide, Hobart and Darwin.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpapril253.gif"><img src="/images/stories/rpapril253thumb.gif"></a>
At a distance of more than 20 kilometres from the city centre and less than 30 kilometres from the capital city centre, 88.4% of suburbs have a median unit price below $500,000: Across each individual capital city, the vast majority of suburbs have a median unit price which sits within this range.
Click to enlarge
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Once you move further than 30 kilometres away from the city centre virtually all suburbs have a median unit price below $500,000. Not only is this a reflection of the fact that the pricing differential between units and houses narrows as you move further away from the city centre but also that the supply of units typically decreases. Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpapril255.gif"><img src="/images/stories/rpapril255thumb.gif"></a>
With housing demand strongest within inner city areas and the cost of purchasing developable land restrictive, ongoing densification makes sense.
The benefits of a greater volume of units are clear; you only have to look at the fact that in Sydney 20.5% of suburbs within 10 kilometres of the CBD have a median unit price below $500,000, compared with zero suburbs within the same boundary having a median house price below $500,000.
Units afford residents the ability to live in more desirable areas of the city than they would otherwise be able to if they had to buy a detached house. A good example of this is in Sydney; the median house price over the 12 months to December 2011 was $555,000 compared with $455,000 for units. Based on suburb median prices you could purchase a house in Riverwood (16 kilometres from the city), or you could buy a unit in Chippendale less than three kilometres from the city centre for $100,000 less at these median prices.
Given the strong demand to live close to the city centre, lack of appropriate infrastructure within the outer suburbs of most capital cities, the restrictive pricing for detached houses in inner-city suburbs and limited supply, we anticipate that densification of the inner city will (and should) continue.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
Cameron Kusher is senior data analyst at <a target="_blank" href="https://www.rpdata.com.au/">RP Data</a>.
Sydney units photograph by Neal Jennings, courtesy of <a href="https://www.flickr.com/" target="_self">Flickr</a>.
 
 
 
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ckusher-ujnxiKuFQs

Units the way to go for city buyers looking for property under $300,000: Cameron Kusher

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The pending move of federal cabinet offices to the sustainable development at 1 Bligh Street is set to cost $21 million, according to the Department of Finance and Deregulation.
The department has released details of the proposed fit-out of the new offices after Special Minister of State Gary Gray <a target="_blank" href="https://www.propertyobserver.com.au/office/government-aims-to-move-into-dexus-ultra-green-1-bligh-street/2011103052118">confirmed the move in October 2011</a>.
The DoFD plan to lease floors 19, 20 and 21 of the 30-level building – a total of 4,891 square metres.
The move still needs to be approved by the public works committee.
The new premises will serve as the offices for the Prime Minister, cabinet, ministers, office holders, Opposition Leader and visiting senators and members.
The building has been marketed as being environmentally friendly, featuring a 135-metre-high 16-metre diameter atrium, a double-skin climate-controlling glass façade, energy-efficient air-conditioning, its own energy generation mechanisms, solar panels and water recycling facilities. It has been awarded a six-star green star rating, the first high-rise building in Australia to get the rating.
The Sydney Commonwealth Parliament Offices are currently at 70 Phillip Street, but the building is said to be too old and of too poor condition to continue leasing. It was built 30 years ago and served the Hawke government.
“Due to the age and condition of the accommodation, as well as inherent faults that cannot be overcome by a refit, it was considered undesirable to sign a new long-term lease on the premises,” the DoFD report says.
“Other factors driving the decision to relocate include the safety, security, parking, access and amenity of the building, none of which are appropriate for the required use.”
It was suggested in March that terrorism-related parking restrictions caused headaches for parliamentarians.
“It is no longer possible for vehicles to wait kerbside for parliamentarians who are exiting from the building. This leads to situations where parliamentarians wait on the street while their COMCAR drives around the block,” the report says.
The building features a commercial childcare centre on the lower ground floor and has space for 270 bicycles.
The preliminary layouts were prepared by Davenport Campbell.
Works on the site are due to commence in September with a move-in date of December this year.
The Dexus-owned building <a href="https://www.propertyobserver.com.au/office/dexus-1-bligh-street-criticised-over-price-design-and-views/2011101952002">has been the subject of comment</a> over its office plate design, restricted harbour views and premium rents.
The building has been limited in finding tenants given the high cost of rent. It cost $629 million to build. As of March it was 82% tenanted.
The building provides 42,000 square metres of net lettable area over 27 levels.
It was officially opened in August 2011 by Prime Minister Julia Gillard.
Public submissions to the leasing inquiry closed April 24.
The committee will hold a public hearing on the proposed fit-out on May 3 in Sydney.
 
 
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awalsh-7Ub9EypybQ

Government expected to move into 1 Bligh Street by the end of the year

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Buying a property is the most expensive and significant purchase we’ll ever make in our lives.
This makes the purchase process one of life’s most exciting and daunting moments. When buying small items like clothes or cars one can browse, pause, walk away, think and consider. But when buying a half-million-dollar property at auction, the single opportunity to buy is happening right before your eyes. The time to decide is now. Even if you purchase privately and have given weeks of thought to a property, the decision is rarely easy one.
The heat of the moment of an auction and the emotion of becoming attached to a property can sometimes result in post-purchase uncertainty. For whatever reason it may be, it is worth noting that buyers have rights after purchase, and as of March 1, 2012 the Sale of Land Act (in particular section 31) changed to protect Victorian purchasers even further.
Cooling-off rights
Basically put, the legislation now allows for a purchaser to “cool off” after making an offer on a property, no matter what the circumstances are.
Previously a purchaser would forfeit the statutory three-day cooling off period if he or she had sought legal advice prior to signing a contract to purchase a residential property. Purchasers could also agree to remove all rights to a cooling off period legally, by choice, through a solicitor.
However as of March 1st, a Victorian purchaser will no longer lose the right to the cooling-off period if he or she received legal advice, and the new amendments to the legislation also no longer allow the purchaser to legally waive their three-day withdrawal period.
The amendment to the legislation is a positive for purchasers who are not 100% certain about their decision. This may not be good news for purchasers that are certain on their decision, however, as a selling agent will be less likely to accept an offer before auction, or entertain the idea of negotiating with a buyer before an action, if the buyer can still cool off. Previously, if a strong offer was put forward without a cooling-off period, the offer was as good as being sold under the hammer, as it was deemed an unconditional offer.
From a negotiation perspective, this reduces a purchaser’s bargaining power, as waving the cooling-off period was a negotiation tool used by some purchasers, and this avenue is no longer available – no matter how certain they are on the purchase.
Just one example of this being used to a buyer’s advantage was a recent property Infolio purchased on behalf of a buyer in Carnegie, where we secured a purchase price of $773,100 – despite there being an offer above $775,000 – due to our waiving the cooling-off period.
Key negotiation tools now include submitting offers that are not subject to finance or a building inspection and agreeing to an early release of the 10% deposit, known as a section 27.
More information on the changes affecting buying and selling property effective from March 1st can be found at <a target="_blank" href="https://www.consumer.vic.gov.au">www.consumer.vic.gov.au</a>.
Cameron Deal and Lauren Staley are founders of Melbourne buyer advocate and property management agency <a target="_blank" href="https://www.infolio.com.au/index.php/home">Infolio</a>. 
 
 
 
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Victorian buyers have lost a bargaining chip but gained the ability to change their minds in cooling-off changes

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Struggling listed property developer Sunland has put its flagship Palazzo Versace hotel on the Gold Coast up for sale with price expectations of around $80 million arising from strong expected Asian buying interest.
The decision to sell the hotel comes just seven months after Sunland acquired the hotel outright following a swap arrangement with Dubai development partner the Enshaa Group.
The sales campaign is being handled by father and son real estate agents Dan and Sam McVay from boutique commercial real estate agency McVay Real Estate, which has offices in Brisbane and Sydney.
Sam McVay told Property Observer he expected the buyer will most likely come from offshore though there will also be interest from high-net-worth individuals in Australia given the hotel's iconic status.
"We have had a lot of interest in the hotel in the past," he says.
The hotel will be marketed via a five week expressions of interest campaign with a sale expected to be concluded within three months.
Dan McVay told the Gold Coast Bulletin Asian buyers were "probably at the front of the queue".
The hotel features 200 rooms, three restaurants, a ballroom, shops, a gymnasium, a spa, a marina and other facilities.
Under the terms of the agreement, Sunland agreed to exchange its joint venture Dubai projects – the Palazzo Versace Dubai and D1 Tower – <a href="https://www.propertyobserver.com.au/leisure/sunland-swaps-palazzo-versace-dubai-for-gold-coast-counterpart/2011101751958">for 100% ownership of the Palazzo Versace hotel on the Gold Coast</a>.
Enshaa had purchased its 49% stake in the hotel for $42.5 million in 2005.
<img src="/images/stories/palazzov.jpg">
The Palazzo Versace was the world's first fashion-branded hotel when it opened in 2000. The Palazzo Versace name will remain until 2020.
Sunland managed interim profits of just $185,000 for the half-year to December 31, with the company taking a hammering from a slowdown in sales in projects in south-east Queensland and Victoria.
The company had forecast profits of $1 million for the half year.
Annual accounts show that the Palazzo Versace contributed revenue of $14.7 million for the year ending June 30, 2011, compared with $13.5 million for the year ending June 30, 2010.
For the half-year to December 31, Sunland sold 219 off-the-plan apartments and house-and-land packages, worth a combined $102 million.
It settled 263 sales over the six-month period, totalling $59 million.
In its results, Sunland notes a significant decline in enquiries, sales activity and subsequent delay in settlements towards the end of the year, particularly in south-east Queensland and Victoria.
It says the continued rate of sales and timing of settlements will be crucial to the full-year result.
Chief executive Soheil Abedian says the results reflect the uncertainty in relation to settlements and a loss of confidence in the market.
Residential projects that contributed to sales over the six-month period were the Queensland townhouse projects Cassia and Gardene, the Boulevarde Residences at the Royal Pines Resort on the Gold Coast as well as the NSW Sedyr project at the entrance to the Georges River.
Sales were also recorded at the master-planned developments of Bushland Beach near Townsville and Bluestone, 35 kilometres from Melbourne.
The future looks brighter, with a significant amount of settlements pushed forward into the second half of the year. Unconditional sales totalled 470 worth $200 million, while settlements worth $130 million are expected in the first half of 2012.
Sunland is forecasting a 30% drop in full-year profits of between $14 million and $15 million.
The interim accounts show the developer has an unused $66 million line of credit and $19.2 million in cash on hand.
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Sunland lists Gold Coast’s Palazzo Versace after company profits slump

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Retired car dealer Laurie Sutton is the undoubted kingpin of Sydney property in 2012. No sooner had he secured a near-record $20 million Mosman price, than he’s reputedly gone and bought Kalua, the Joye family’s plantation-style Palm Beach trophy home.
It too has sold at a record price for the suburb, according to well-placed chatter, as the neighbourhood expressed keenness over the weekend to welcome Laurie Sutton and his wife, Di, to Sydney's northern beaches millionaires’ playground. Word had crept out after the venture capitalist underbidder with existing Palm Beach connections was advised a sale was iminent.
It's suggested the undisclosed sale price fell a tad short of its ambitious $25 million expectations set <a href="https://www.propertyobserver.com.au/residential/hordern-family-s-hawaiian-hideaway-on-the-market-with-reconrd-setting-palm-beach-hopes/2011091651580" target="_blank">when Kalua was listed last September</a>, perhaps closer to $23 million or so.
But nonetheless, the Joyes’ sale realised a remarkable compound capital gain on the home of about 14% per annum over 33 years of ownership, which bettered the <a href="https://www.propertyobserver.com.au/new-south-wales/chinese-buyers-playing-property-pick-a-box-but-record-mosman-price-unlikely/2012030653723" target="_blank">Suttons’ 12% annual gain for their Mosman home</a>, which was owned for a similar lengthy period. Its the second highest price ever paid for a beachfront holiday home in Australia, the highest being the $26 million Ilyuka estate at Portsea in late 2010.
Kalua is the 1920s Ocean Road holiday home best known as having been the prestige Christmas holiday rental for international luminaries including Nicole Kidman, John Cleese and James Murdoch.
Sutton and his wife will be the 1920s beach bungalow’s third owner. It was last sold by the Hordern retailing family to the more entrepreneurial Joye family, the current vendors, for $330,000 in 1978.
It’s a five-bedroom, six-bathroom house with three-bedroom guesthouse along with studio cabana, pool and tennis court on its 5,500-square-metre dress circle block overlooking Cabbage Tree Boat Harbour.
It was listed by Ken Jacobs and Darren Curtis at Christies International in conjunction with LJ Hooker Palm Beach agents David Edwards and Peter Robinson, who are under instructions not to speak with the media about any detail of the sale. Its not yet marked as sold on their websites.
There’s no confirmation whether Sutton took up the offer of taking 60% vendor financing.
"Unquestionably the most significant and coveted landholding in exclusive Palm Beach, Kalua is a beachfront sanctuary of international stature beyond compare," Jacobs said on its marketing launch.
"It is secluded amid magnificent sprawling grounds … a once-in-a-lifetime opportunity as one of the eastern seaboard’s most prestigious residential offerings," Edwards added.
Kalua was one of the first properties in Palm Beach, guaranteeing its historical significance. Folklore has it that the Hordern family sent their architect by sea to Oahu, Hawaii, to copy “stick by stick and stone by stone” the impressive Dillingham plantation residence.
It was subsequently named Kalua, meaning “double” in Hawaiian. At the time of construction there were no roads into Palm Beach so all materials, including soil, had to be barged in from Newport.
By coincidence the vendor, businessman Ian Joye and wife Maggie, now spend much of their time in Hawaii, where they are building <a href="https://www.propertyobserver.com.au/leisure/the-best-private-resort-in-the-world-with-prices-that-match-the-big-name-guests/2011092951737" target="_blank">a beach home at one of the most exclusive private beachside resorts</a> in the world, <a href="https://www.kukio.com/" target="_blank">Kukio</a>.
Palm Beach's top sale was $15 million, when businessman Doug Shears bought a beachfront on the Pittwater side of the peninsula.
Sales of prestige Palm Beach listings have ranged from $4,800 per square metre to $13,000 over recent years.
Sutton’s 5154-square-metre Bay Street Mosman holding – the suburb's largest harbourfront estate – was bought by Ying Li. The residence, which had been the Sutton’s home for almost 35 years, was bought from the Pick a Box presenters Bob and Dolly Dyer in 1977 for $376,960, when the Dyers headed to Queensland. Its price is now confirmed at $20 million.
The Bay Street tropical holding is like Hawaii meets Hamilton Island on Middle Harbour and despite renovations over the past three decades, there are still traces of the Dyers' day, including the imposing sandstone fireplace in its living room that overlooks Quakers Hat Bay.
For the past few years the Suttons have been based at Darling Point in a Katsura Imperial Villa-inspired Michael Dysart design house after buying from nightclub entrepreneur Barry Wain, who secured $18.5 million for his Lindsay Avenue house with eight-car garaging.
 
 
 
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Laurie Sutton the kingpin of Sydney property as he swaps Mosman for Kalua in Palm Beach in record-setting sales 

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Property group Valad has listed its 16-level A-grade office building at 575 Bourke Street for sale.
The listing is expected to test the strength of the tightly held Melbourne CBD market, which has an office vacancy rate of 5.3%, according to CBRE.
Valad acquired the tower in 2005 for $50.87 million on a yield of 6.34%.
An expression-of-interest campaign closing May 31 will be conducted by James Kaufman and Robert Anderson of Jones Lang LaSalle in conjunction with Martin O’Sullivan and Mark Coster of CBRE.
The property comprises a 16-level quality office tower, with ground-level retail, 15 office floors and two-level basement car park.
“Melbourne is such a tightly held market, particularly for well-leased A-grade assets such as 575 Bourke Street.  It will be a great test of the market, and interest is expected from both local and international investors,” says Anderson.
“The building occupies a premium CBD location surrounded by some of Melbourne’s most highly regarded commercial towers, the law courts and Southern Cross train station.  It benefits from significant base building refurbishment and large highly efficient floor plates,” he adds.
The office comprises a net lettable area of approximately 16,201 square metres and floor plates of 1,050 square metres.
The property at 575 Bourke Street is currently 89% leased, with long-term tenants including Logie Smith Lanyon, McKean &amp; Park, EO Financial Services and Equity Trustees Limited, who occupy two floors in the building.
“A number of the current tenants have been occupiers in the building for multiple terms, a testament to the strength of the asset and its ability to attract and retain tenants. The multi tenanted nature and staggered lease expiry of the asset underpins the high quality cash flow,” says Mark Coster of CBRE.
The sale of the building follows Valad announcing in February last year that would exit its Australian funds management business and focus on direct property ownership.
 
 
 
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