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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The introduction of Sunday trading in Western Australia was one of the prompts that triggered Charter Hall's purchase of the Wanneroo Central shopping centre.
The Charter Hall Retail Partnership has announced it has executed a contract to buy the shopping centre which will have an initial 8% yield.
Acting Charter Hall chief executive Scott Dundas saysthere were several reasons for the purchase.

“With a robust forecast population growth of 4.7% in its main trade area, dominant supermarket anchor tenants and the introduction of Sunday trading across Western Australia, Wanneroo Central is expected to contribute stable long term returns and will be a high quality addition to the REIT’s non-discretionary portfolio of shopping centres,” he told the local press.

Sunday retailing is set to start in Western Australia, with the roll-out in metropolitan areas beginning in August. The major supermarkets and department stores such as David Jones, Target, Harvey Norman, IKEA , Coles and Woolworths will be allowed to trade between 11am and 5pm. Smaller operators are free to open 24/7.
The industry appears split about the impact on landlords and tenants.
CBRE senior director of retail Helen Lassam believes deregulation is a win-win for property owners and their tenants.
“Landlords and retailers will immediately benefit from deregulation. More hours gives the public more choice, and I believe it will improve turnover across the board, just as it did in the eastern states. This will immediately flow into higher rents,” says Lassam.
In Western Australia, anchor tenants and increasingly speciality shops pay a small base rent plus a percentage of turnover.
Lassam says deregulation will create a better market to attract large eastern states-based high street operators that have previously been cautious about entering the Perth market.
“Improved turnover and stronger rents makes an attractive a market for investors too,” Lassam says.
However, Perth-based valuer Matt Garmony is not convinced and says that rents may, in fact, come down. In recent years many retail investors that have been exposed to high vacancy rates and financially troubled tenants.
“Sunday trading really does increase the cost of running a business, so I think it’s likely to not be very profitable. Many shops will not bother to open. Currently the IGA supermarkets that trade on Sunday make most of their money on that day. With this deregulation they will have to compete with Coles and Woolworths, which will affect their viability and subsequently bring rents down,” he says.
The deregulation has also put an end to the exclusive Sunday trading hours in the tourist centres of Perth’s CBD, Fremantle, Midland, Armadale and Joondalup at the expense of suburban and regional retails.
CBRE Perth managing director Peter Agostino says that shoppers flock to the Perth CBD every Sunday because there are few other places to go.
“Trade in the Perth CBD will suffer because for more than a dozen years it has thrived on the benefits of seven-day trading. I expect fewer people will go into the city to spend, resulting in falling turnover and less rent,” he warns.
However, the rapidly burgeoning residential community living and being developed in the CBD is expected to eventually prop up the retail sector there.
According to the most recent Savills research, in the Hay Street Mall in the Perth CBD, net rents range from $2,200 to $4,900 per square metre with yields between 7.25% and 8.5%.
In other CBD locations rents range between $650 and $2,500 with yields between 7.5% and 9%.
Major stores in Perth neighbourhood shopping centres pay net rents of between $135 and $155 per square metre while speciality tenants pay rents of between $400 and $750 per square metre. Yield range between 8.25% and 9%.
A research report compiled by CBRE for the fourth quarter of 2011 described the planned move to allow Sunday trading in some Perth suburbs as one of the “obstacles” facing the retail market.
The CBRE report says the market was subdued in 2011 but the outlook is optimistic as economic forecasts and growth prospects remain bright.
However it notes that retail is one of the sectors that has not felt the benefits of the investment spending in the resources industry to the same extent as other property sectors because demand is driven by the domestic side of the economy and dependent on consumer confidence.
 
 
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andreadixon-oif3j7eKne

Investors scour WA retail as extended trading hours looms, but some retailers don’t like Sundays

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An A-REIT is a listed property trust that is professionally managed either by an external party or by internal staff within a related corporate structure which is known as a stapled entity. 
A payout ratio is the proportion of earnings paid out as distributions to unit holders in a trust or dividends to share holders of a company. 
Among the benefits of investing in an A-REIT is the higher payout ratio compared with broader listed equities. A-REITs have a pay-out ratio mostly ranging between 75% and 100%. This contrasts to the broader equities payout ratio of around 50%, although with significant variation. 
Trusts have limited discretion about the share of earnings paid to unit holders. There are no prescribed minimum distribution rules. Taxation of Trusts means that close to 100% of earnings are distributed otherwise tax at the highest marginal rate is payable. Some income may be retained in order to meet capital expenditure requirements. 
A company, or corporate component of an A-REIT, can pay as much or as little of its earnings as it elects. This explains why the externally managed A-REITs will normally have a higher pay-out ratio than a stapled A-REIT. 
The A-REIT sector currently has an overall average earnings pay-out ratio of 81%. The average payout ratio of the externally managed A-REITs is 92%. The average for the internally managed stapled A-REITs is 72%. 
By 2007, the average A-REIT payout ratio had escalated to 101%. Paying out more than income earned is an unsustainable proposition and relied on recognising and paying out growth in the fund’s capital value. This was achieved by increasing gearing. This increased gearing was subsequently exposed as capital values fell during the financial crisis.
Payout ratios were reduced in 2010 and 2011 to preserve cash and to assist in rebuilding balance sheets at a time when A-REIT performance was poor. Going against this trend is Westfield Retail Trust, which is increasing its payout ratio from 90% to 100% from this year, leaving no room for any capital expenditure from earnings. Capital expenditure is essential to maintain the appeal of retail assets in particular. This increase in the payout ratio has not met with broad support.
 Mark Wist is senior asset consultant at <a href="https://www.atchison.com.au/" title="Atchison Consultants" target="_blank">Atchison Consultants</a>.
 
 
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markwist-Vaq6S8Xoby

What A-REIT payout ratios can mean for capital expenditure

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Industrial property is on the rise as more online businesses start searching for massive properties to hold inventory, along with a general improvement in market conditions, experts say.

This comes as a new report suggests online book retailer Amazon is searching the east coast for a suitable warehouse that could serve as an Australian base – it comes after several other reports have indicated the retail giant is opening a local warehouse.
Ben Hegerty, an associate director of industrial property at Savills, told SmartCompany this morning he’s “definitely” seeing some improvement in the market connected to eCommerce.
“You look at the reports of Amazon, Catch of the Day doing a big deal last year, and there are others as well.”
Catch of the Day moved into a massive new property last year in Melbourne, as it quickly grew out of its previous warehouse.
Recent research suggests the industrial market is ticking up after a lean few years. <a href="https://www.propertyobserver.com.au/industrial/low-industrial-vacancy-rate-in-melbourne-encouraging-speculative-developments-knight-frank/2012041754327" target="_blank">According to the latest Melbourne analysis by Knight Frank</a>, the amount of industrial space available for rent fell by 16% during the first quarter of the year.
Knight Frank said both prime and secondary buildings in “key locations” were leasing well.
Hegerty suggests at least some of the uptake has to do with the rise in the number of eCommerce stores searching for larger distribution centres.
“Even the cheaper importers such as Sonic, they’re in the market in a big way. It’s pretty simple, in that you have less manufacturing on shore. Goods have to come from somewhere to service a market, and they need to be stored.”
“We’ve seen that affect the market.”
Meanwhile, a new report suggests Amazon is taking more action to buy an Australian warehouse, with representatives travelling to the east coast to scout locations.
According to Fairfax, company officials will be visiting in the next few months to tour properties, or even sign up as a pre-committed tenant.
Amazon is one of the most popular online retail destinations for Australians, who browse to buy cheaper books, DVDs and other retail items. The company’s entry into Australia would allow it to operate a local warehouse, ensuring faster shipping times and lower costs.
It would also pose a threat to bricks and mortar business, as the company deals in a huge number of categories.
Hegerty says any move to Australia would “make sense”.
“They’re popular here… They could cut down on costs.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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pmcstafford-pr9eMARWoN

Rise of online business giving industrial property a boost as Amazon eyes local market

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SQM Research managing director Louis Christopher has suggested the RBA has been misreading recent house price direction.
The claim comes after the Reserve Bank minutes from its April board meeting note that house prices had shown some signs of stabilising, with auction clearance rates in Sydney and Melbourne having picked up.
Christopher told Australian Broker Online that he was "deeply concerned" by the RBA's conclusions.
"Let me tell you now, house prices have not stabilised,” Christopher said.
“In many parts of the country, they are still falling. And auction clearance rates are weaker than recorded this time last year," he said.
Christopher said a recent uplift in clearance rates was seasonal.
"The RBA should typically know this, and yet are still suggesting that there is stabilisation in the market. Well, not for Melbourne, and not for Sydney, and not for Canberra, and not for Hobart, and there are still some question marks on Brisbane and there are still no signs of the Gold Coast or Sunshine Coast coming out of their property crash," he said.
Perth and Darwin, Christopher suggested, are the only cities to have experienced a "genuine bottoming out".
The RBA's April minutes followed very similiar acknowledgments in both its February and March announcements that it was of the view that housing prices had shown some signs of stabilising at the end of 2011, after having declined for most of 2011.
Tim Lawless, RP Data national research director, says at a macro level, housing market conditions have moved towards stability.
"And in fact, over the March quarter dwelling values showed absolutely no movement, which was the strongest result in a year.
"There are specific markets that do remain soft, however in most of these locations we have seen the rate of decline improving. 

"Our key vendor metrics are also showing some improvement with selling time and vendor discounting levels both showing an improving trend," Lawless notes.
 
 
 
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jchancellor-FAypfDUnLy

RBA misreading recent house price direction: SQM Research director Louis Christopher

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Westfield Group has sold eight shopping centres in the United States for $US1.54 billion ($1.49 billion).
A majority interest in seven of the centres were sold to Starwood Captial Group, which will manage and control the centres, with Westfield retaining a 10%  stake.
The eighth property, Eastland in California, was sold in a separate transaction for $US147 million.
The Westfield announcement said the transaction values were “approximately equal with the current book value”.
Proceeds will be used to pay down debt, then reinvested in the US, <a href="https://www.propertyobserver.com.au/news/westfield-to-sign-deal-at-rebuilt-world-trade-center/2011072850959" target="_blank">including in the World Trade Center in New York</a>, Westfield says.
Westfield Group announced at its annual results in February that it would sell assets in the US and Britain and launch a $2 billion share buyback.
The divestments are expected to have an annualised dilutionary impact to the group’s funds from operations of about 2¢ per security, prior to the redeployment of capital and the impact of any buy-back of WDC securities.
The group’s forecast distribution for the 2012 year of 49.5¢ per security remains unchanged.
 
 
 
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Westfield sells eight US shopping centres for US$1.54 billion

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Peppers Guest House – the Hunter Valley retreat – has been listed for sale.
Set on 16 hectares of landscaped grounds in Pokolbin, the retreat has 47 guest rooms with a nightly rate of $350 and a four-bedroom homestead, which has a rack rate of $1,400 a night.
All of the luxuries associated with the five-star operation are on-site, including the Endota day spa and the Sanctuary Restaurant.
Sydney-based investors Matt Williams and Paul O’Rourke, through holding company Mattrow Pty Ltd, bought the property in 2007, which was part of a package that included the nearby Peppers Convent.
The partnership, which also holds the lease over Pokolbin’s Mercure resort on Broke Road, sold the Convent to Ken Cowley in 2010. However, it is understood the investors will retain the Mercure lease.
Peppers Guest House was a created in 1984 by power couple Mike and Suzi O’Connor, who set out to establish a venue dedicated to fine food and wine at a time when sophisticated weekend breaks were a new concept. The venture was to become the first property in the Peppers Group, which now has 28 upscale resorts throughout Australia and New Zealand. The brand is now part of the Surfers Paradise-based Mantra Group, which takes a strong management role in its more recently acquired properties. Millionaires Mike and Suzi O’Connor are no longer involved in the business.
CBRE Hotel selling agent Rob Cross says the demand for mid-range investment property is healthy in the Hunter Valley.
“Investments priced between $5 and $20 million attract high-net-worth locals in The Hunter as well as a few emotional buyers,” he says.
Expressions of interest for the property, which is being offered with Peppers management in place, close on May 31.
 
 
 
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Peppers Guest House Hunter Valley at Pokolbin listed for sale

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A three-bedroom Bronte house that fetched $2.39 million was the most expensive sale this week, according to RP Data. The 2003 Tipper Avenue house is 50 metres from the beach and was sold by Goodyer Donnelley agent Alexander Phillips on April 13. The adjoining Tipper Avenue house fetched $2.45 million in 2008, also through Phillips.
New South Wales accounted for eight of the 10 most expensive sales of the week, according to RP Data. A two-bedroom Broadbeach unit was the most expensive sale outside of the state. The Queensland unit sold for $1.75 million, coming in at number six on the list. 
It just pipped a four-bedrom Fairfield house that sold for $1.71 million and ranked as the seventh most expensive sale of the week. 
 
1. 23 TIPPER AVENUE, BRONTE, NSW, 2024, three-bedroom house, sold on April 13 by Goodyer Donnelley Real Estate for $2.39 million
2. 80 GORDON STREET, PADDINGTON, NSW, 2021, four-bedroom house, sold at auction on April 13 by Goodyer Donnelley Real Estate for $2,125,000
3. 25 EDMUND STREET, QUEENS PARK, NSW, 2022, four-bedroom house, sold on April 11 by Belle Property Bondi Junction for $2.1 million
4. 72 TRAFALGAR STREET, ANNANDALE, NSW, 2038, four-bedroom house, sold at auction on April 14 by Belle Property Annandale for $2.05 million
5. 1 MCBURNEY STREET, NAREMBURN, NSW, 2065, four-bedroom house, sold at auction on April 12 by McGrath Estate Agents for $2 million
6. 4/5 BROADBEACH BOULEVARD, BROADBEACH, QUEENSLAND, 4218, two-bedroom unit, sold at auction by Del La Parker Executive Realtors for $1.75 million
7. 47 PARK CRESCENT, FAIRFIELD, VICTORIA, 3078, four-bedroom house, sold at auction on April 14 by Collins Simms Real Estate for $1.71 million
8. 6 CLEVEDON ROAD, HURSTVILLE, NSW, 2220, five-bedroom house, sold on April 10 by CoStar Real Estate Hurstville for $1.65 million
9, 1005/21 ELIZABETH BAY ROAD, ELIZABETH BAY, NSW, 2011, two-bedroom unit, sold on April 12 by Richardson &amp; Wrench Elizabeth Bay/Potts Point for $1.65 million
10. 35B SPENCER ST ROSE BAY, NSW, 2029, three-bedroom house, sold at auction on April 10 by Richardson &amp; Wrench Bondi Junction/Bondi Beach for $1,587,000
 
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cknowlton-QnEa6ntUYP

NSW represents eight of the top 10 sales of the week, with Bronte leading the way: RP Data

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Strong uptake of industrial space in Melbourne is encouraging more speculative projects in the western and south-eastern parts of the market, according to the latest Melbourne industrial market analysis by Knight Frank.
During the first three months of 2012 the amount of industrial space available for rent in the city fell by nearly 60,000 square metres (16%) to 298,000 square metres, a new low for total available space since Knight Frank began compiling data on the market in April 2009.
A year ago there was about 530,000 square metres of industrial space available for rent across the city, equating to a drop of 47%.
Knight Frank notes that take-up was stronger in the first quarter of 2012 after slowing in the fourth quarter of 2011.
All regions monitored experienced a drop in available space as take-up continues to outstrip supply. While available space has steadily diminished, market asking rentals have only begun to respond to the tighter market, with modest increases in the second half of 2011.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/knightfrankapril18.gif"><img src="/images/stories/knightfrankapril18thumb.gif"></a>
Rents average around $72 per square metre, with the CBD fringe (essentially Port Melbourne) the most expensive at $95 per square metre and the north (suburbs like Preston, Broadmeadows, Epping and Tullamarine on the north-eastern side of the Calder Freeway) the cheapest market at $66 per square metre.
There was just under 17,000 square metres of speculative development completed over the first three months of the year with another 23,000 square metres currently under construction.
Big property developers like Australand and Dexus are aggressively targeting the West and South East with new speculative developments in the pipeline.
The west comprises industrial areas on the southern side of the Calder Freeway including Altona, Laverton, Sunshine, Derrimut, Brooklyn, Ravenhall and Deer Park.
The south east comprises industrial space in Moorabbin, Springvale, Braeside, Dandenong South, Hallam, Lyndhurst, Carrum Downs, Cranbourne and Pakenham.
Dexus is currently building a 15,600 square metre office warehouse within its industrial estate at 25 Distribution Drive, Laverton North in Melbourne’s west, despite this precinct has the greatest level of available industrial space at April 2012, 60% of which is prime accommodation.
Another speculative development by Australand – a 10,000-square-metre warehouse – has been completed, in Truganina, also in the west precinct.
According to Knight Frank there is only 112,000 square metres of available space in the west of Melbourne, down from 252,000 over the past 12 months, the biggest drop of all industrial precincts over this period.
Over the quarter, 31,000 square metres of space was snapped up in the North, making it the most active leasing market for 2012 to date.
James Templeton, joint managing director of industrial at Knight Frank, say the <city><place>Melbourne</place></city> industrial market is experiencing record low vacancy across all sectors.
“Both prime and secondary buildings in key locations are leasing well,” he says.
According to Templeton, plans by Australand and Dexus to expand in the western and south-eastern market will be assisted by improved levels of enquiry, with a number of major retailers now looking at pre-leasing.
“There is also increased activity in the land and building package area, with a number of owner-occupiers taking advantage of the competitive deals being offered,” he adds.
 
 
 
 
 
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lschlesinger-FZcF9M3vE6

Low industrial vacancy rate in Melbourne encouraging speculative developments: Knight Frank

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There are some very simple steps which could reduce the cost of Sydney apartments by about $60,000 – from, say, $550,000 to $490,000. Many of the steps also apply to Melbourne. If the steps were taken it would also provide a fantastic boost to the Sydney construction industry, which is now struggling. If we do not take these steps then Chinese buyers will purchase the vast bulk of inner-Sydney apartments. Here are my six steps: 1) In inner-city areas we need to recognise that five-to six-storey apartments are uneconomical. We must change the culture and build apartment blocks with 12 storeys or more. These large apartment blocks are the only solution to the dwelling shortage because outer suburban cottages require too much land and too much infrastructure. Worse still, the home buyers are forced to spend too much money on transport and too much effort is required to go to work and come home. 2) We need to streamline the approval process, which currently can take can take two to three years even when an application complies with all the controls.  3) The state government advisory document called SEPP 65 stipulates strict requirements for the number of units requiring light into the living rooms, which leads to the incorporation of far too many two-storey crossover units. These are not favoured by the market and add enormous cost to a development. 4) The New South Wales Land &amp; Environment Court takes far too long to hear cases and then far too long to hand down decisions. In any event, the majority of decisions seem to be in favour of councils and against developers. It’s a huge burden on the cost to the buyer. 5) Section 94 contributions, which are charged by individual councils, must be fixed at a maximum of $20,000 per apartment and should include all works required by councils and other authorities to the roads and utilities surrounding a development site. These should be payable at occupation of development. 6) Affordable housing levies, where they exist, should be abolished as this is purely a tax on development and the provision of affordable housing is a burden which should be shared by the entire community, not just the development industry. Australian buyers are back in the market but they are being forced to pay unnecessary costs. Lower interest rates will increase Australian buyers but supply is artificially being held back and the costs boosted by state and local governments. Harry Triguboff is managing director of the <a target="_blank" href="https://www.meriton.com.au/">Meriton Group.</a>
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator.</a>
 
 
 
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Harry Triguboff’s six steps to apartment affordability – starting with more high rise

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With less than three weeks to go until the Queensland government ends its $10,000 building boost scheme and only months remaining on a number of other state incentives, the majority of Australia’s biggest industry players believe government incentives still have a role to play in stimulating residential development.
Nearly nine out of 10 (86%) of the valuers, funds managers, property analysts and mortgage lenders who took part in the latest API Australian Property Directions Survey rated government incentives as moderately to extremely important.
More than a third (39%) rated them as extremely important, and nearly half (47%) as moderately important.
Only 14% of those surveyed saw no role for government incentive schemes.
Those surveyed included all the major banks, property groups Jones Lang LaSalle, Colliers International, CBRE, Cushman &amp; Wakefield and Chesterton International and listed fund mangers <place><placename>Colonial</placename><placename>First</placename><placetype>State</placetype></place> and Investa.
The Queensland building boost is set to end on April 30, having already been extended once – it was originally due to expire on January 30 this year.
<a href="https://www.propertyobserver.com.au/resources/government-property-grants-and-stamp-duty-concessions-the-expiry-dates-you-need-to-know/2012041054208">Four schemes are set to expire on June 30 and another two on July 1</a>.
However government incentives also tend to bring forward demand and create vacuums in the future,<a href="https://www.propertyobserver.com.au/residential/victoria-to-miss-out-on-first-home-buyer-pick-up-and-churn-factor-bis-shrapnel/2012032053939"> as noted by BIS Shrapnel in its recent forecast reports</a>.
“We started to see a pick-up in NSW And Western Australia towards the end of last year, which was emphasised by the expiration of stamp duty exemptions for existing properties,” BIS Shrapnel senior manager Angie Zigomanis said at the March 2012 Building Industry Prospects conference.
“But it is still weak in Victoria, and one of the reasons why it is still weak is because the state government has tended to keep the first-home buyer incentives fairly elevated, which has pushed forward demand.”
 
 
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