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 most commonly accepted wisdoms about property management is that landlords are price sensitive and that a business has to compete on fees.
I reject this outright. Before going into it, I ask that you first print out a copy of your management agreement and have a read of it with fresh eyes.
Most management agreements follow the same formula. Someone has gone off and read the legislation and faithfully copied out the fields that the law says must go into each agreement. For example, in NSW, an agent may specify whether or not the agency will do routine inspections, and whether they will disburse money to owners. The agency has to specify whether bills will be paid on the owner’s behalf.
Curiously, the fee section of the agreement is in another part of the agreement. It sits by itself, crammed into a corner. Most agents write “See Schedule X” and then copy out the standard agency fee card into that schedule.
Now, with these documents in hand, imagine you are a landlord negotiating the services your agency will provide. Imagine too that you have three different proposals from three different agencies.
We have ended up in a situation where the core document that sets out what you will do for a landlord is identical to every other agency. Of course, you and your competitors will have ticked all the required boxes. Yes, you will do inspections. Yes, you will disburse money. These are, in practice, non-negotiable. To a landlord, you’re all offering the same service.
Worse, the only part of the agreement that is subject to any negotiation is the fee card. No other part of the agreement can logically be changed or negotiated.
No wonder that landlords choose to negotiate fees – there is nothing else to discuss!
I believe we have been poorly served by these standard forms. They have set things up so that we are forced to negotiate on fees only. Much better to start again and negotiate service levels. You want daily disbursements? Fine, that will be more. You are happy with monthly disbursements? Fine, that will be less. You want three inspections a year? Fine, that will be an extra $50 per inspection. You want photos with the inspection? OK, that will be an extra $25 per inspection. Want us to pay your bills? No problem, that will be $1 per bill processed.
Each service you provide, and the level to which you promise to provide it, should be negotiated as a whole. It doesn’t make sense to negotiate fees without regard to the service level you promise. To do so just corrupts the whole negotiating process and leaves everyone worse off.
I believe the future of our industry will be unlocked when agencies move beyond fee cards and start designing genuine service packages that are tailored to the different types of landlords. Some landlords will want some services and will pay for them, others won’t. Each landlord will choose a service package that works for them.
I know this is the future for our industry because it has, or is happening, in every other service industry. I don’t know a restaurant that lets you order what you want but then charges everyone the same. I don’t know an airline that is afraid to charge more for a business class seat and then serve different food in each cabin. Why should it be any different for us?
How to move to this world? Start by throwing out the management agreement template you have and start again. Think about a logical set of service offerings that you can provide and price them to perceived value, not to cost. Be creative in the way you charge for services, and be prepared to move beyond a simple “percent of rent” fee that covers everything. And get rid of the fees and charges mentality.
Ben White is non-executive director at <a target="_blank" href="https://www.raywhite.com/">Ray White</a>. He will be presenting at the <a href="https://wealthconference.com.au/" target="_blank">Wealth Conference </a>on June 3 and 4 on the Gold Coast, a property management conference. 
 
 
 
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Property managers should offer different levels of service for different fees

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Getting into the property market for the first time is tough, there’s no doubt, but there are many factors impacting on why people view this as a major problem.
 
High expectations
Gen Y are living at home longer than ever before. They are saving longer and accruing bigger deposits. Interest rates are low. So why can’t they afford to buy? 
In many cases it’s not that they can’t afford to buy property, it’s that they can’t afford to buy what they want. Expectations are too high. Many people expect to be able to buy a reasonable property in a desirable location close to the lifestyle amenities they want. This, obviously, is very difficult. There is a sense of wanting to have it all straight away. Australian households are paying more than they can afford for housing, with more than 740,000 renters and over 380,000 mortgaged home owners reporting significant financial stress. Sometimes you just have to take baby steps. 
This aversion to moving out of the inner city (where the lifestyle amenities are) is going to lead to a generation of renters, and the Aussie dream of home ownership will be sacrificed for lifestyle. This of course, will push up rents because of the simple rules of supply and demand. 
More than 75% of Australians live in and around our major cities along the eastern and south-eastern coastal areas. And that’s where they want to stay. The limited land available in these locations, along with a growing population of buyers and immigrants, naturally puts pressure on Australia’s metropolitan prices.
Small will become the new big
That leaves two options: a bigger property in an outer-ring location, or a (much) smaller property that is more centrally located. Gen Yers are willing to sacrifice space for location, so will more and  more opt to live in high-density housing (apartments, etc.) that are located close to where they work and play than a bigger place further out.
Governments will need to help out
If affordability issues are pushing people to the ‘burbs, governments will need to create business activity centres where people can work close to home in the outer areas. Lack of infrastructure is still a problem in many outlying areas, and this is preventing people from wanting to relocate to outer-ring suburbs.
In addition, the federal government should be looking at introducing a flexible and secure savings scheme for first-home buyers that is tax free and places no limits on the entry or exit time frames and amounts held in the account. This would go a long way to assist first-home buyers.
Banks need to drop interest rates
Banks will also need to play their part in solving the affordability crisis. The Reserve Bank does its bit to keep rates low and try to stimulate the economy but it’s up to individual banks to pass on those rates to consumers. The GFC, the lending crisis in the US and the experience in parts of Europe have left our banking sector overly cautious when it comes to lending. It’s harder now to get a loan than it has been in a long while. Although I don’t agree with the former US approach of basically handing out an unsecured loan to anyone who asks, if lending criteria were loosened up a bit more people would be able to jump into the property market much more easily.
We have to remember, however, that overall, interest rates are a lot lower than they were 20 years ago. Gen Y didn’t live through that. They don’t understand the pressure of the threat of losing your family home to the bank. 
Housing isn’t that expensive
Speaking of the rest of the world, on international standards, housing is Australia is still relatively affordable. 
If affordability was a real issue, then why do we have so many investors continuing to buy up residential property?  Again, the issues lies with first-home buyers, not the market overall. 
Growth is good!
We want our economy to grow and we want our property market to grow with it. It’s good for the whole country. Many people are doing very well investing in property and will continue to do so. Ultimately, people need to lower their expectations, bite the bullet and start off with a property they can afford while still making a good purchase decision in terms of potential for capital growth. There are lots of great, affordable properties out there. You just need to be prepared to live in one of them!
Melissa Opie, aka “The Property Lady”, is  a multi-award-winning buyers’ advocate, bestselling author and managing director at <a href="https://www.kpi.net.au/">Keyhole Property Investments</a>.  The team at KPI act for investors and owner-occupiers Melbourne wide from $400,000 to $5,000,000. You can follow <a target="_blank" href="https://twitter.com/thepropertylady">“The Property Lady” on Twitter.</a>
 
 
 
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Housing is not too expensive, but Gen Y expects to have it all

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The Reserve Bank has come under fire from Channel 7 Sunrise host David Koch for not taking swifter action in response to the current challenging market conditions and plans by the federal government to deliver a surplus in the May budget.
“I’ve been a big fan of the Reserve Bank and the way it handled the global finance crisis.
“But I’m concerned the RBA board has been too slow in responding to the recent downturn,” says Koch in his latest blog post, written before the latest RBA minutes were released.
“If the federal budget is contractionary then interest rate settings have to be expansive to compensate.
“And they have to move quickly and decisively,” he says.
Koch has criticised the RBA despite naming Stevens as one of his “idols” in a list that includes Meriton boss Harry Triguboff, rap star Nelly and his own father.
Koch even includes a photo of himself smiling alongside a typically dour-faced Stevens, whom he describes as the “perfect type of person” to lead the central bank.
“The self-proclaimed ‘most boring person in Australia’, [Glenn Stevens] is the ultimate finance nerd. A man with immense intellect, he lives and breathes the job but is very conscious of the responsibility the role brings,” writes Koch on kochie.com.au.
According to Koch, the RBA cannot afford to be slow to react when the federal government is looking to cut spending in the next budget.
“The next six months could be a dangerous time for the economy and the financial health of Australians.
“Because if the federal government and the Reserve Bank don’t get it right, it could prove to be tipping point for the economy to slide in to a recession,” he says.
Kochie warns that there are signs that the resources boom is slowing (two consecutive months of trade deficits) and it “may not be able to offset the sluggishness of the lower speed sectors of the economy”.
Furthermore, he says, “consumers continue to borrow and spend less but save more as they continue to stay in the bunker”.
Figures released by the ABS today show that total lending finance fell by 6.5% in February meaning total lending commitments are up just 0.9% on a year ago after being up 3.5% in January.
According to CommSec economist Savanth Sebastian, the slump in lending seems to be gathering momentum.
“On a trend (smoothed) measure, the pace of lending has now fallen for five consecutive months with the 1.7% slide in February marking the biggest monthly fall since mid-2008 – a period that was at the height of the global financial crisis,” he says.
Sebastian says lending finance figures are a forward indicator of spending further down the track with the current lack of lending “clearly a dampener on future activity”.
 
 
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Kochie slams RBA as too slow in responding to economic downturn 

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Australia's black economy could be worth up to 30% of the nation's gross domestic product, according to research presented yesterday by RMIT.
Researchers have highlighted ''transfer pricing'' – the manipulation of payments and invoices between Australian companies and related companies in tax havens to minimise tax – as a major drain on government revenue.
Sharif As-Saber, deputy head of research and innovation at RMIT University, says the black market was estimated at around 13 to 15% of the economy but that was just taking into account tax evasion.
“If you add illegal transactions like human trafficking and drugs it could be much higher than this,” says As-Saber.
“These kinds of illegal activities are actually rising which is not actually accounted for in the official estimates.”
The researchers found international business crimes today include a wide range of acts which go beyond the traditional corrupt practices such as piracy, bribing and transfer pricing and may include illegal sports betting, illegal ship breaking, high-sea piracy, human trafficking and money laundering.
They can also involve intellectual property theft, counterfeiting and illegal trading of drugs, arms, artefacts, live endangered animals and even human body parts.
As-Saber says the researchers are working towards a new definition of the black economy and what they term “black international business”.
“We would like to come up with a different perspective within international business because at the moment we just look at businesses that are legal and what we have found out is that there are businesses that are not legal entities and they are also involved in some kind of business across borders,” says As-Saber.
As-Saber cautions that all illicit businesses are not illegal, for example he describes the contracts that US companies got after the Iraq war as “all legal but probably illicit”.
As-Saber says it is difficult to point to one industry or sector which is particularly involved in black international business.
“All industries are involved in this kind of activity,” he says.
As-Saber says it is a “difficult question” to determine what should be done to combat the international black economy.
“Any government actions are reactionary in nature and given the sophistication of technology and all sorts of things, the criminals and gangs are advancing very fast,” says As-Saber.
“The response of governments and the international community is not as fast and they are always lagging behind and that is the problem.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Australia’s black economy worth up to 30% of nation's gross domestic product: Research

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For some time now, the RBA has been as assuring us of the flow-on benefits soon to reach the non-mining states of Victoria and New South Wales.
However, these benefits may not be very easy to recognise. Let's attempt to make things a little clearer.
The mining boom has been keeping the Australian dollar high for some time now, due to the record levels reached by our terms of trade.
Accordingly, the prices you and I pay for a whole host of manufactured goods have barely altered from what we paid for them 10 years ago. And in some cases, they have fallen.
Yet household incomes have actually grown by more than 60% over the same period.
Therefore, stable prices for many items, together with increased disposable income, has meant those of us living in Sydney and Melbourne now have more to spend upon services and entertainment.
And that then probably helps to explain the extraordinary explosion in restaurants and cafes over the last few years.
Are there other signs of growth?
The latest ANZ jobs survey showed advertisements rose by 1% during March — and have risen by some 12% for the year.
Click to enlarge
<a href="/images/stories/langapril17.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/langapril17thumb.gif"></a>
If next month's figures show a further increase in job ads, this will provide clear evidence of a return of confidence, within the economy.
Bottom line: <a href="https://www.propertyobserver.com.au/commercial/next-year-will-be-good-for-commercial-property-investment/2011112152466" target="_blank">Another recent article </a>touched on the current high level of accumulated household savings.
These are poised ready to re-enter the economy, as soon as this growing confidence is finally confirmed.
And if the RBA trims the cash rate (as is widely predicted to occur in May), be prepared for a sudden surge in investment activity — which will inevitably include commercial property.
 
 
 
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How the mining boom is translating into more cafes in Melbourne and Sydney

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Well, aren’t all those economists just great at getting things right!  Employment rose by 44,000 in March, yet the dismal science predicted a drop in employment, with some economists guessing at job losses as high as 10,000 for March.  Most expected the unemployment rate to increase, and the talk was of a 0.5 percentage point fall in the cash rate next month.
Yet the ABS figures show a healthy mix in new jobs, with part-time jobs rising by 28,000 during March and full-time positions lifting by 16,000.  The jobless rate remained steady at 5.2%.  We even worked more hours in March and also over the last 12 months.
At first glance the latest employment figures are heartening. But the result needs to be put into perspective. The latest March result follows the modest fall in employment in February and a more sizeable fall December. In fact over the past five months employment growth has totalled just 36,400 positions – or around 7,000 jobs a month.  Yet it is still the case that an additional 44,000 workers now have jobs compared with a month ago.
In the current environment people are still more likely to be saving rather than spending. From a business perspective trading conditions will remain difficult, especially given the strength of the Aussie dollar and the mountain of government red (and green) tape. The federal election cannot come fast enough!
The March result suggests that businesses will hold onto current staff rather than adding to their workforce.
The yield curve suggests that the cash rate will drop by 0.25 percentage points in May, giving the banks some cover – i.e. don’t expect mortgage rates to drop much.  For mine – and this isn’t advice – we are at the bottom of the interest rate cycle.  I fixed my investment loans earlier this month for a five-year period.
Oh, and by the way the most jobs over the last 12 months were created in Western Australia (45,000), followed by 23,000 across Queensland.  Close to 23,000 positions were lost across Victoria over the last year.  South Australia lost 2,000 jobs and the was little change in the new jobs created across New South Wales during the 12 months to March 2012.
Three things drive the property cycle – confidence, supply versus demand and full-time job creation.  Perth has a slight oversupply of new stock.  In contrast the Queensland new housing market is <a href="https://www.matusik.com.au/chartsDetail.php?Where-art-thou-supply-15" target="_blank">under-supplied</a>, jobs are being created and the state has a new government, which appears to be making the right moves to restore business and consumer confidence.
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

Employment is up, particularly in Queensland and WA, as economists guess wrong

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There’s an old Jewish proverb, which – as a rough translation – says: “People come to poverty in two ways: accumulating debts and paying them off.” Perhaps our politicians should take note, because it’s clear we’re becoming a society split down the center of “those who have” and “those who have not”. You don’t need the brain of a statistician to work out why the polls are so low.  It’s not just about lowering hospital waiting lists and reducing ever rising electricity bills, which are always on the agenda for any state or federal government in power. Neither is it about handouts to “appease” changes in policy such as the carbon tax, or other “nanny” initiatives.  No – it’s as simple as an effective policy to provide shelter for those unable to commit 50% or more of their wages to accommodate for their needs – let alone that of a growing family.
I admit to being a bit of an ABC junkie, always tuned into one of the various news stations.  I listen to MPs’ voices coming over the airwaves daily, reminding me of Australia’s “sunny” outlook in the light of Europe’s economic woes. I hear our Prime Minister remind me that by 2013 we’ll have a surplus and I read reports of the flood of “economic” migrants flocking to our shores to take advantage of our low unemployment status.  This is all fair enough and on the face of it, not untrue.  However, while there’s no shortage of “those who can” in the divide of the “wealthy” and the “struggling” – there’s an increasing shortage of “those who can’t”.
Most recently I read of an English northerner, a hard-working former paper-mill operator by trade, who refused to go on the dole in the UK to provide for the needs of his family of dependents (all 13 of them).  Frustrated with the lack of opportunity in the UK, he’s taken to the seas and like a pioneer – determined to make a new life for his family – has moved to Queensland.  Staying with relatives, he believes our “positive portfolio” will provide opportunity here, which he’d be unable to furnish elsewhere – and he’s probably right.  However, what he may not have factored in is the cost of housing.  With 12 children among his dependents, finding a house to comfortably accommodate his needs won’t be easy – or cheap. Especially if he wants to be within cooee of transport, schools, and shopping facilities.
But it’s not just about purchasing; the rental market in every capital city is stressed to the max. You may pull me up here and emphasise certain media reports quoting figures “indicating” that Melbourne’s vacancy rate has “softened” under the boom of construction.  If so, it’s worth remembering most of this new construction is in the form of high-rise accommodation, which offers neither affordable rent nor (for those on an average wage) a quality lifestyle.  Investors, looking for good yields, have purchased most of the smaller apartments and you’d be hard pressed to get a studio flat with no parking facilities for less than $300 per week – hardly affordable for those on an average wage. 
While writing this, I have just paused to have a conversation with a young girl about to vacate from her current accommodation due to the current owners wanting to move in.  We spoke briefly about an established two-bedroom apartment that has just been let.  Such was the demand for this relatively small unit, numerous applications had been fielded, offering some $50 per week above the advertised yield (which isn’t by any means an unusual occurrence for apartments in boutique blocks of this type).  It doesn’t just happen in affluent locations, it happens in the poorer areas also. Suburbs in the outer-western Melbourne regions where the market’s arguably more affordable also fall under high demand for an increasing number unable to save for their own homes.
During the conversation we touched on the subject of the current “abundance” of high-rise apartments currently sitting vacant in the CBD (SQM has the vacancy rate sitting at 4.6%); however her comments were along the lines of “small, expensive and anything but appealing”. 
I was then told how she always offers three months rental in advance (not including the bond, which would be an additional cost).  However, even this is often not enough to beat the competition.  For those unable to provide such incentives, it makes you wonder how low-wage recipients and the unemployed cope with finding appropriate shelter. Perth’s vacancy rate has now dropped below 1%, Sydney 1.5%, Adelaide 1.3%, Canberra 0.7%, Darwin 0.7% and Brisbane 1.6% (all figures courtesy of SQM). Possibly the only capital offering a marginally easier terrain is Hobart, with a vacancy rate of 2.4% – however, it’s sparse comfort. 
Tenants who are knocked off the rental ladder (a frighteningly increasing statistic nationwide) confront a truly dire situation.  In 2010 – even after a tightening of the rules of who could, and couldn’t, apply, there were 248,419 people on the waiting list for government-assisted accommodation. The recent McKell institute’s <a href="https://mckellinstitute.org.au/">‘Homes for All’</a> report cited the increased and very real need for public housing.  The latest <a href="https://www.nhsc.org.au/supply">‘State of Supply’</a> report highlighted similar issues.
A recent and damning audit commissioned by the Victorian government <a href="https://bit.ly/HMBtVI">‘Access to Public housing’</a> reads like a company about to go into administration.  Apparently, Victoria has “a $17.8 billion property portfolio, housing 127,357 Victorians”; however, there is a massive 42% gap between income and rental expenses.  Furthermore, the deficit is set to “more than double from $56.4 million in 2011, to $115.1 million in 2015.” Victoria’s apparently “facing a cash crisis with all cash reserves expected to be exhausted during the 2012–13 financial year based on current budget estimates”!  The report can’t even pinpoint where it all became “unsustainable” – “because the division has funded deficits by deferring acquisitions and maintenance and using cash received in advance for long-term programs, along with unspent cash from capital programs.” Recent news confirming the waiting list for public housing in Victoria has fallen by 1,582 is no light on the horizon in the face of such a dire situation, especially considering there are in excess of 38,500 still stuck in “limbo”.
To be fair on the current Victorian government, this is the most detailed report I can find on the subject in the Auditor’s archives.  It’s therefore evident the crisis spanned back well into the previous government’s term and was never adequately addressed or assessed. In light of this, it’s positive that such a review was indeed commissioned, however it’s yet to be seen if the “insurmountable” problem is able to be resolved in the near or long term.
They are all facts and figures that make up part of one of many public reports – reports that have been addressed previously – reports that cost taxpayer money – reports that result in little if any change no matter who’s in power. 
Of most concern is the national review on how housing affordability has been managed.  On the Australian National Audit Office’s <a href="https://bit.ly/IBJrQi">website</a> you can source a damming overview into the administration and implementation of the federal government’s “Housing Affordability Fund (HAF)”.  The objective of this fund was to increase the supply of new homes whilst also reducing their cost, with the key focus being on the “reduction of housing development costs associated with infrastructure projects”.  This is an issue that sorely needs addressing, yet the report is an embarrassment to read. The funding was to be in the form of $500 million over a five-year period from 2008-09 to 2012-13, with a further $12 million allocated for administration costs. Qualification for the funds was assessed on a strict “needs” basis looking at the number constructed, against the projected savings to the home buyer.  In other words, the funds would not be rationed equally across all states. 
All was going OK, until a shortfall in spending to the tune of $12 million was brought to light.  There followed an administration nightmare, with funds allocated to projects that fell clearly outside of the assessment criteria.  Projects that should have been funded weren’t, and those that failed the assessment guidelines and should have been rejected were approved.  Furthermore, it was clear that funded projects did not make evident the amount of savings passed onto the buyer, and neither were the results of those funded fully assessed on completion.  All in all, considering the result to date has only assisted 749 home buyers for an outlay of $12 million in administration costs and a promised $500 million for the projects, it’s clear better strategies could and should have been implemented.
Comparing property markets across the world is difficult due to the way statistics are collated, with some markets substantially less transparent than others.  However, in the <a href="https://www.demographia.com/">International Housing Affordability Annual Survey</a>, the only market that eclipses Australia in terms of income-to-housing cost is Hong Kong.  The survey rates each country by dividing the median house price by the annual median pretax wage.  Australia has a score of 6.7; however, Hong Kong has a score of 12.6.  While there’s plenty of healthy debate over how the figures are calculated, <a href="https://www.propertyobserver.com.au/residential/sydney-and-melbourne-more-affordable-than-demographia-suggests/2012012953158">showing that it’s not quite as black and white as it seems</a>, there’s no doubt Hong Kong stands out and it’s therefore worth looking how affordability has affected its most needy – especially considering we’re well on our way to a similar level of disparity.
The country is one of the most densely populated in the world – and with such a finite source of land, it’s no wonder the existing real estate holds its price. Hong Kong has no option but to build upwards – high-rise living is therefore widely accepted, and apartments are small by our standards.  However, since 1953 when the first public housing scheme was initiated, the number of people living in government-assisted accommodation has now reached 50% of the total population. The split between those who can and those who can’t purchase has led to a range of initiatives aimed at providing adequate shelter for not only the poorest, but for increasing numbers of low- and even middle-income recipients not qualifying for public housing, but still sandwiched out of ownership. 
Schemes now include public rental housing estates, home ownership scheme estates, tenants purchase scheme, flat-for-sale schemes – the list goes on. None of the above mentioned has been a “cure” for which statistics of “homeless” have now been replaced with those “caged” in high-rise accommodation.  Accommodation where the standard of living is no better than battery farmed chickens in a coop.  However, action has been taken and to date, it seems to far exceed Australia’s efforts. 
Here we are fast losing the battle altogether, however unlike Hong Kong we have one of the least densely populated countries in the world with an abundance of land – land we haven’t properly used! Furthermore there are a growing number who, like those in Hong Kong, are “sandwiched” – unable to qualify for housing assistance (for which application rules have been tightened) and yet can’t afford adequate rental accommodation close to the transport facilities they need for employment.  Yet we’re told daily how prosperous Australia is in comparison to other nations as if everyone is ‘enjoying’ the ride.
Do we really want to end up like Hong Kong with 50% of the population needing government-assisted housing simply because successive governments haven’t gone far enough to action effectively the recommendations of their various multimillion-dollar funded reports?  Planning rules must be relaxed in outer-suburban areas.  There needs to be a fresh look at the requirements to build “green”, which I’ve previously spoken about <a href="https://bit.ly/rrfUxd">here</a>.  Provision of facilities, making regional locations feasible for home buyers working in central towns and cities, need to be timetabled and implemented (another issue I’ve addressed – along with others – on numerous occasions). 
We don’t need an “HAF” that helps fewer than 1,000 recipients for an outlay costing hundreds of millions. Nor should we be giving out “nanny” incentives, which place inflationary pressure on existing real estate such as the FHOG (first-home owners’ grant). Instead, we should remove stamp duty on new dwellings and consider a change in policy on negative gearing and other such recommendations cited in the <a href="https://bit.ly/HMDOjA">Henry Tax review</a>. 
We may be rolling along on a mining boom, which looks great on paper.  Nevertheless, like the “unsinkable” Titanic on calm waters, no one seems to be flagging the great iceberg ahead. 
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://ten.com.au/the-circle.htm">The Circle</a> and a senior consultant for <a href="https://www.nationalpropertybuyers.com.au/">National Property Buyers</a> servicing the needs – Australia wide – for home buyers and investors.
Iceberg photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
 
 
 
</body></html>

catherinecashmore-6LXia3pPQj

Unless we address affordability, Australia's property market will hit an iceberg: Catherine Cashmore

<html><body>
Properties in just one locality in the City of Ipswich have changed in value since last year, according to the Queensland Valuer-General’s annual valuation.
Medium prices in the rural locality of Deebing Heights increased 1.3% from $197,500 in 2010 to $200,000 in 2011, according to Valuer-General Neil Bray.
Bray found medium prices in Ipswich’s 66 other localities stayed the same from October 2010 to October 2011.
Over the whole region prices increased 0.1%, reflecting the static market in the area.
Bray says allowances made in 2010 for flood-affected properties had been carried for into the new valuations.
“Apart from isolated changes to reflect environmental changes or local sales evidence residential valuations are predominantly unchanged,” Bray says.
“Minor changes were recorded in commercial values with some neighbourhood shopping centre values increasing slightly.”
The City of Ipswich recently topped an RBA list of the regions with the highest rates of mortgage arrears.
<table border="0" cellspacing="0" cellpadding="0" width="460"><tbody>
<tr>
<td width="91" valign="top">
Residential localities
</td>
<td width="133" valign="top">
Previous median value ($)
</td>
<td width="120" valign="top">
New median value ($)
</td>
<td width="116" valign="top">
Change in median value (%)
</td>
</tr>
<tr>
<td width="91" valign="top">
Deebing Heights
</td>
<td width="133" valign="top">
197,500
</td>
<td width="120" valign="top">
200,000
</td>
<td width="116" valign="top">
1.3
</td>
</tr>
<tr>
<td width="91" valign="top">
Amberley
</td>
<td width="133" valign="top">
86,000
</td>
<td width="120" valign="top">
86,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ashwell
</td>
<td width="133" valign="top">
97,500
</td>
<td width="120" valign="top">
97,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Augustine Heights
</td>
<td width="133" valign="top">
207,000
</td>
<td width="120" valign="top">
 
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Barellan Point
</td>
<td width="133" valign="top">
202,500
</td>
<td width="120" valign="top">
202,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Basin Pocket
</td>
<td width="133" valign="top">
131,000
</td>
<td width="120" valign="top">
131,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Bellbird Park
</td>
<td width="133" valign="top">
148,000
</td>
<td width="120" valign="top">
148,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Blackstone
</td>
<td width="133" valign="top">
140,000
</td>
<td width="120" valign="top">
140,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Booval
</td>
<td width="133" valign="top">
132,000
</td>
<td width="120" valign="top">
132,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Brassall
</td>
<td width="133" valign="top">
152,500
</td>
<td width="120" valign="top">
152,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Bundamba
</td>
<td width="133" valign="top">
128,000
</td>
<td width="120" valign="top">
128,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Calvert
</td>
<td width="133" valign="top">
67,000
</td>
<td width="120" valign="top">
67,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Camira
</td>
<td width="133" valign="top">
182,500
</td>
<td width="120" valign="top">
182,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Churchill
</td>
<td width="133" valign="top">
136,000
</td>
<td width="120" valign="top">
136,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Chuwar
</td>
<td width="133" valign="top">
165,000
</td>
<td width="120" valign="top">
165,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Coalfalls
</td>
<td width="133" valign="top">
144,000
</td>
<td width="120" valign="top">
144,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Collingwood Park
</td>
<td width="133" valign="top">
127,000
</td>
<td width="120" valign="top">
127,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Dinmore
</td>
<td width="133" valign="top">
115,000
</td>
<td width="120" valign="top">
115,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
East Ipswich
</td>
<td width="133" valign="top">
126,000
</td>
<td width="120" valign="top">
126,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Eastern Heights
</td>
<td width="133" valign="top">
149,000
</td>
<td width="120" valign="top">
149,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ebbw Vale
</td>
<td width="133" valign="top">
123,000
</td>
<td width="120" valign="top">
123,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ebenezer
</td>
<td width="133" valign="top">
93,000
</td>
<td width="120" valign="top">
93,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Flinders View
</td>
<td width="133" valign="top">
155,000
</td>
<td width="120" valign="top">
155,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Gailes
</td>
<td width="133" valign="top">
115,000
</td>
<td width="120" valign="top">
115,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Goodna
</td>
<td width="133" valign="top">
124,000
</td>
<td width="120" valign="top">
124,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Grandchester
</td>
<td width="133" valign="top">
68,500
</td>
<td width="120" valign="top">
68,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Haigslea
</td>
<td width="133" valign="top">
130 750
</td>
<td width="120" valign="top">
130 750
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ipswich
</td>
<td width="133" valign="top">
150,000
</td>
<td width="120" valign="top">
150,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ironbark
</td>
<td width="133" valign="top">
108,000
</td>
<td width="120" valign="top">
108,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Karalee
</td>
<td width="133" valign="top">
172,500
</td>
<td width="120" valign="top">
172,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Karrabin
</td>
<td width="133" valign="top">
124,000
</td>
<td width="120" valign="top">
124,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Lanefield
</td>
<td width="133" valign="top">
93,000
</td>
<td width="120" valign="top">
93,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Leichhardt
</td>
<td width="133" valign="top">
125,000
</td>
<td width="120" valign="top">
125,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Lower Mount Walker
</td>
<td width="133" valign="top">
100,000
</td>
<td width="120" valign="top">
100,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Marburg
</td>
<td width="133" valign="top">
94,000
</td>
<td width="120" valign="top">
94,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Moores Pocket
</td>
<td width="133" valign="top">
107,000
</td>
<td width="120" valign="top">
107,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Mount Forbes
</td>
<td width="133" valign="top">
70,000
</td>
<td width="120" valign="top">
70,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Mount Marrow
</td>
<td width="133" valign="top">
156,250
</td>
<td width="120" valign="top">
156,250
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Muirlea
</td>
<td width="133" valign="top">
141,000
</td>
<td width="120" valign="top">
141,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Newtown
</td>
<td width="133" valign="top">
150,000
</td>
<td width="120" valign="top">
150,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
North Booval
</td>
<td width="133" valign="top">
120,000
</td>
<td width="120" valign="top">
120,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
North Ipswich
</td>
<td width="133" valign="top">
125,000
</td>
<td width="120" valign="top">
125,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
North Tivoli
</td>
<td width="133" valign="top">
87,000
</td>
<td width="120" valign="top">
87,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
One Mile
</td>
<td width="133" valign="top">
125,000
</td>
<td width="120" valign="top">
125,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Peak Crossing
</td>
<td width="133" valign="top">
93,500
</td>
<td width="120" valign="top">
93,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Pine Mountain
</td>
<td width="133" valign="top">
183,000
</td>
<td width="120" valign="top">
183,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Purga
</td>
<td width="133" valign="top">
132,000
</td>
<td width="120" valign="top">
132,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Raceview
</td>
<td width="133" valign="top">
138,000
</td>
<td width="120" valign="top">
138,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Redbank
</td>
<td width="133" valign="top">
130,000
</td>
<td width="120" valign="top">
130,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Redbank Plains
</td>
<td width="133" valign="top">
142,000
</td>
<td width="120" valign="top">
142,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Ripley
</td>
<td width="133" valign="top">
136,000
</td>
<td width="120" valign="top">
136,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Riverview
</td>
<td width="133" valign="top">
110,000
</td>
<td width="120" valign="top">
110,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Rosewood
</td>
<td width="133" valign="top">
119,000
</td>
<td width="120" valign="top">
119,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Sadliers Crossing
</td>
<td width="133" valign="top">
155,000
</td>
<td width="120" valign="top">
155,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Silkstone
</td>
<td width="133" valign="top">
134,000
</td>
<td width="120" valign="top">
134,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
South Ripley
</td>
<td width="133" valign="top">
80,000
</td>
<td width="120" valign="top">
80,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Springfield
</td>
<td width="133" valign="top">
165,000
</td>
<td width="120" valign="top">
165,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Springfield Lakes
</td>
<td width="133" valign="top">
160,000
</td>
<td width="120" valign="top">
160,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Tallegalla
</td>
<td width="133" valign="top">
117,000
</td>
<td width="120" valign="top">
117,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Thagoona
</td>
<td width="133" valign="top">
108,500
</td>
<td width="120" valign="top">
108,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Tivoli
</td>
<td width="133" valign="top">
107,000
</td>
<td width="120" valign="top">
107,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Walloon
</td>
<td width="133" valign="top">
150,000
</td>
<td width="120" valign="top">
150,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
West Ipswich
</td>
<td width="133" valign="top">
120,500
</td>
<td width="120" valign="top">
120,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Willowbank
</td>
<td width="133" valign="top">
134,000
</td>
<td width="120" valign="top">
134,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Woodend
</td>
<td width="133" valign="top">
142,000
</td>
<td width="120" valign="top">
142,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Wulkuraka
</td>
<td width="133" valign="top">
139,000
</td>
<td width="120" valign="top">
139,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
Yamanto
</td>
<td width="133" valign="top">
157,500
</td>
<td width="120" valign="top">
157,500
</td>
<td width="116" valign="top">
0
</td>
</tr>
<tr>
<td width="91" valign="top">
All residential localities
</td>
<td width="133" valign="top">
139,000
</td>
<td width="120" valign="top">
139,000
</td>
<td width="116" valign="top">
0
</td>
</tr>
</tbody></table>
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awalsh-7Ub9EypybQ

Land values on hold in past year in Ipswich, mortgage arrears capital of Australia

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With Easter 2012 over, many of you will be suffering withdrawals not just from chocolate but also from information about the property market – and more importantly from a lack of homes to look at.
Winter 2012 seems to have come early in terms of lack of properties listed for auction. Even with the holidays now over, there are still only a handful of auctions listed for the weekends left in April. In fact this is shaping up as one of the lowest mid-year auction months that I can remember for some time.
That doesn’t mean that there are no properties on the market at all. There are still plenty of off-markets (unadvertised homes), pre-markets (before they get to market), private sales with no advertising and stales (homes that were advertised a year ago and are now either off the net or on the very last page of the listings).
However, what this does mean is that if you are a buyer looking for an A-grade result in April 2012 you aren’t going to get the best deals by sitting back, thumbing through the glossies and turning up on a Saturday.
As a buyer it is important you understand what is going on, and you are not necessarily going to get that from the Sunday papers. With no public pointers such as meaningful $1 million-plus clearance rates you are going to have to look deeper than the dailies for your market indicators.
For instance, I am still surprised at the number of market watchers who talk to me mid-week in coffee shops or at Sunday sport who think that because they’ve heard the market is OK that prices must have been going up. In 90% of the 400 or so transactions we’ve looked at this year, the sale price has in fact been at or below vendor expectations of last year, not above. And while there has been a good spread of solid auctions, they have rarely exceeded “trade” price expectations. The main reason the market was healthy pre-Easter was because vendors were meeting the market, not because buyers were leaping to ridiculous heights to grab the gold.
On the other hand, when demand is still strong and stock is down as it is right now, prices tend to stay firm. Before Easter our demand indicator Bidderman, which shows an average number of bidders per auction, showed us that there is a healthy level of demand out there when the 3Ps are right – price, property and position. So there is still plenty of competition out there when the property comes up at the right price.
Hence, to use a sailing analogy, your search for a $1 million-plus home in bayside and Melbourne’s inner east in the next few weeks may require you to change tack. As with sailing, you will need to look for the winds in different spots and possibly away from the crowds.
So, what can you do to maximise your chance of finding your dream home at a good price this month?
1)      Do your own research. You need to look past the highlighted sales results that skilled agents will present you. These may not be giving you the full picture. As an informed buyer you need to balance out this information with that from results not highlighted by the selling agent. As a buyer it is incumbent on you to do your own independent homework if a good decision making process one of your home-buying goals.
2)      The early bird who has clear and relevant goals catches the worm – it might seem a worn-out saying, but it’s super relevant in this market. Yes, turning up is three-quarters of life, but you still need to perform. Your winter home searching effort needs to include weekly phone calls to agents, short, sharp emails, letterboxing, Excel spreadsheets. The good homes are not just going to fall into your lap as they did before Easter or in previous years. If you do, you may get some chances other don’t.
3) Get a rental. With very limited stock on offer, you’ll need an extra level of patience to avoid making a mistake. If your dream home is not there, it’s not there. In that case a six-month rental strategy may be far better in the long term than a ‘quick draw McGraw’ 10-year buying strategy.
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
Winter photograph courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
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maljames-vHwm28JUAa

Buying property in early winter demands a change of tack: Mal James

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In the last three weeks a dramatic event has taken place in the Australian residential apartment market – the mainland Chinese have suddenly increased their “off the plan” buying of inner Sydney, Melbourne and even Brisbane apartments.

The Chinese have been the main buyers of Sydney and Melbourne inner-city apartments for some time (they were not normally Brisbane buyers) but, according to Australia’s largest apartment developer, Harry Triguboff, the level of buying over the last three weeks is without precedent. 
It underlines the fact that substantial parts of the Australian residential market are dependent on what happens in China. Some of this avalanche of Chinese apartment buying will spill over to wider residential markets, although, because so much of it is off the plan, it effects construction activity rather than the pre-owned residential market. There are a substantial number projects in the pipelines, so this buying will avoid what was potentially a glut in all three cities.
It seems that Chinese apartment investors have been quietly told that the Chinese government wants a subdued Chinese apartment market and that they would much prefer the investors to buy offshore (which also helps keep the Chinese currency down).
In recent months there have been substantial swings in Chinese demand for Australian apartments.
Last November, Chinese purchases of inner-Sydney and Melbourne apartments off the plan suddenly halved (<a href="https://www.propertyobserver.com.au/economy/the-sting-in-a-china-property-tale/2011112252489" target="_blank">The sting in a China property tale</a>) – a move which, if it had continued, would have had a major effect on apartment prices. At that time, the severity of the funding squeeze in China greatly increased the risk of Australian purchases by mainland Chinese because their investments in China could be jeopardised.
Over the Christmas break the China credit squeeze eased and in January the Chinese returned to inner-city apartment buying (<a href="https://www.businessspectator.com.au/bs.nsf/Article/China-apartments-Australia-housing-market-RP-Data--pd20120201-R2QQZ?OpenDocument" target="_blank">Will China trigger a property revival?</a>).
Although the Chinese have been the main buyers of inner-city Sydney and Melbourne apartments in the past the buying was spasmodic. Most of the buyers were those educated in Australia.
The latest buying is much more concentrated. Given that the Chinese are buying the apartments off the plan, it means that apartment building is going to be strong well into the future irrespective of the level of Australian interest rates. Nevertheless, the recent lower Australian rates and the expectation of further falls has kindled interest by Australian buyers.
So the market has become much stronger.
In the past the Chinese concentrated their purchases in Sydney and Melbourne, but this time the force of the buying is so much stronger that it has spilled over to Brisbane, where the prices are cheaper. It has not extended to the Gold Coast.
The Chinese find that Australian yields from apartment rents are much higher than those in China.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator</a>.
For more insights into Chinese buyers and their effect on the Australian property market, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-foreign-investment-in-australian-property-markets">download our free eBook.</a>
 
 
 
 
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