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

<html><body>
The 10 suburbs where house prices fell the most during the past year are Williamstown, Beaumaris, Flemington, Windsor, Balwyn North, Tullamarine, Moonee Ponds, Brunswick East, Brighton and Prahran, according to the Real Estate Institute of Victoria.
The 10 suburbs where unit prices fell the most during the March quarter are Fitzroy, South Melbourne, Flemington, Windsor, Heidelberg Heights, Richmond, St Albans, West Footscray, Mornington, Caulfield North.
The 10 suburbs where unit prices rose the most during the past year are Canterbury, Maidstone, Black Rock, Bentleigh East, West Melbourne, Abbotsford, Bentleigh, Malvern, Caulfield South and Malvern East.
The 10 suburbs where unit prices rose the most during the March quarter are Blackburn, Balwyn, Donvale, Mount Eliza, Bentleigh, Greensborough, Malvern, Brighton, Niddrie and Kensington.
The REIV suggests more than 30 sales are necessary in order to get an informed view of the suburb's median house price, but even with that number there will be distortions in quarterly median prices given the composition of sales during the period.
 
<table width="362" cellpadding="0" cellspacing="0" border="0">
<colgroup>
<col width="159">
<col width="69">
<col width="84">
<col width="50">
</colgroup>
<tbody>
<tr height="39">
<td width="159" height="39"></td>
<td width="69">Mar-12 Median</td>
<td width="84">Quarterly Change</td>
<td width="50">Annual Change</td>
</tr>
<tr height="17">
<td height="17">ABBOTSFORD*</td>
<td>$665,000</td>
<td>11.4%</td>
<td>27.9%</td>
</tr>
<tr height="17">
<td height="17">AIRPORT WEST*</td>
<td>$443,000</td>
<td>-0.7%</td>
<td>-10.0%</td>
</tr>
<tr height="17">
<td height="17">ALTONA NORTH*</td>
<td>$480,000</td>
<td>4.3%</td>
<td>-12.7%</td>
</tr>
<tr height="17">
<td height="17">ALTONA*</td>
<td>$400,000</td>
<td>-8.0%</td>
<td>-12.9%</td>
</tr>
<tr height="17">
<td height="17">ARMADALE*</td>
<td>$592,000</td>
<td>-0.8%</td>
<td>11.1%</td>
</tr>
<tr height="17">
<td height="17">ASCOT VALE*</td>
<td>$435,000</td>
<td>-1.7%</td>
<td>-11.7%</td>
</tr>
<tr height="17">
<td height="17">ASPENDALE*</td>
<td>$595,000</td>
<td>12.1%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">AVONDALE HEIGHTS*</td>
<td>$448,250</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">BALWYN NORTH*</td>
<td>$675,000</td>
<td></td>
<td>-22.4%</td>
</tr>
<tr height="17">
<td height="17">BALWYN*</td>
<td>$743,000</td>
<td>22.3%</td>
<td>2.8%</td>
</tr>
<tr height="17">
<td height="17">BAYSWATER NORTH*</td>
<td>$312,500</td>
<td>-2.6%</td>
<td>-9.9%</td>
</tr>
<tr height="17">
<td height="17">BAYSWATER*</td>
<td>$390,000</td>
<td>9.9%</td>
<td>1.3%</td>
</tr>
<tr height="17">
<td height="17">BEAUMARIS*</td>
<td>$678,000</td>
<td>0.9%</td>
<td>-30.3%</td>
</tr>
<tr height="17">
<td height="17">BENTLEIGH EAST*</td>
<td>$673,500</td>
<td>-3.8%</td>
<td>21.4%</td>
</tr>
<tr height="17">
<td height="17">BENTLEIGH*</td>
<td>$671,250</td>
<td>23.6%</td>
<td>29.1%</td>
</tr>
<tr height="17">
<td height="17">BLACK ROCK*</td>
<td>$739,000</td>
<td>7.9%</td>
<td>21.1%</td>
</tr>
<tr height="17">
<td height="17">BLACKBURN SOUTH*</td>
<td>$569,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">BLACKBURN*</td>
<td>$632,000</td>
<td>20.8%</td>
<td>13.7%</td>
</tr>
<tr height="17">
<td height="17">BONBEACH*</td>
<td>$355,000</td>
<td>-9.0%</td>
<td>-7.9%</td>
</tr>
<tr height="17">
<td height="17">BORONIA</td>
<td>$362,000</td>
<td>2.0%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">BOX HILL NORTH*</td>
<td>$525,000</td>
<td>5.0%</td>
<td>-5.1%</td>
</tr>
<tr height="17">
<td height="17">BOX HILL SOUTH*</td>
<td>$564,750</td>
<td>9.2%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">BOX HILL*</td>
<td>$409,400</td>
<td>3.2%</td>
<td>-7.5%</td>
</tr>
<tr height="17">
<td height="17">BRIGHTON</td>
<td>$876,000</td>
<td>30.7%</td>
<td>-18.5%</td>
</tr>
<tr height="17">
<td height="17">BRIGHTON EAST*</td>
<td>$767,000</td>
<td>-5.9%</td>
<td>12.4%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK</td>
<td>$438,250</td>
<td>10.3%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK EAST</td>
<td>$399,000</td>
<td>-3.9%</td>
<td>-18.6%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK WEST</td>
<td>$395,000</td>
<td>1.3%</td>
<td>12.9%</td>
</tr>
<tr height="17">
<td height="17">BUNDOORA*</td>
<td>$378,000</td>
<td>11.7%</td>
<td>7.2%</td>
</tr>
<tr height="17">
<td height="17">CAMBERWELL</td>
<td>$600,000</td>
<td>-11.8%</td>
<td>-7.7%</td>
</tr>
<tr height="17">
<td height="17">CANTERBURY*</td>
<td>$750,000</td>
<td>12.8%</td>
<td>20.0%</td>
</tr>
<tr height="17">
<td height="17">CARLTON</td>
<td>$275,000</td>
<td>-11.3%</td>
<td>-10.6%</td>
</tr>
<tr height="17">
<td height="17">CARNEGIE</td>
<td>$430,000</td>
<td>-4.4%</td>
<td>-4.9%</td>
</tr>
<tr height="17">
<td height="17">CARRUM*</td>
<td>$409,500</td>
<td>8.5%</td>
<td>-3.6%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD NORTH*</td>
<td>$473,500</td>
<td>-14.3%</td>
<td>-2.7%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD SOUTH*</td>
<td>$751,000</td>
<td>1.7%</td>
<td>39.1%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD*</td>
<td>$515,850</td>
<td></td>
<td>-1.7%</td>
</tr>
<tr height="17">
<td height="17">CHADSTONE*</td>
<td>$470,000</td>
<td>-8.2%</td>
<td>-14.5%</td>
</tr>
<tr height="17">
<td height="17">CHELSEA*</td>
<td>$415,000</td>
<td>19.4%</td>
<td>5.1%</td>
</tr>
<tr height="17">
<td height="17">CHELTENHAM</td>
<td>$462,750</td>
<td>5.5%</td>
<td>-1.0%</td>
</tr>
<tr height="17">
<td height="17">CLAYTON SOUTH*</td>
<td>$435,500</td>
<td>42.7%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">CLAYTON*</td>
<td>$435,000</td>
<td>13.7%</td>
<td>-5.4%</td>
</tr>
<tr height="17">
<td height="17">COBURG*</td>
<td>$451,000</td>
<td>-8.9%</td>
<td>1.1%</td>
</tr>
<tr height="17">
<td height="17">CRAIGIEBURN*</td>
<td>$335,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">CROYDON</td>
<td>$363,500</td>
<td>1.0%</td>
<td>-1.2%</td>
</tr>
<tr height="17">
<td height="17">DANDENONG NORTH*</td>
<td>$332,250</td>
<td></td>
<td>-3.4%</td>
</tr>
<tr height="17">
<td height="17">DANDENONG*</td>
<td>$300,000</td>
<td>-3.8%</td>
<td>-10.4%</td>
</tr>
<tr height="17">
<td height="17">DEER PARK*</td>
<td>$342,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">DOCKLANDS</td>
<td>$645,000</td>
<td>-9.3%</td>
<td>-8.5%</td>
</tr>
<tr height="17">
<td height="17">DONCASTER EAST</td>
<td>$600,000</td>
<td>9.3%</td>
<td>16.1%</td>
</tr>
<tr height="17">
<td height="17">DONCASTER*</td>
<td>$532,500</td>
<td>-11.8%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">DONVALE*</td>
<td>$542,510</td>
<td>22.9%</td>
<td>-4.4%</td>
</tr>
<tr height="17">
<td height="17">EAST MELBOURNE*</td>
<td>$445,500</td>
<td>-5.0%</td>
<td>-12.6%</td>
</tr>
<tr height="17">
<td height="17">ELSTERNWICK*</td>
<td>$520,000</td>
<td>7.9%</td>
<td>7.7%</td>
</tr>
<tr height="17">
<td height="17">ELTHAM*</td>
<td>$440,000</td>
<td>-8.3%</td>
<td>-5.4%</td>
</tr>
<tr height="17">
<td height="17">ELWOOD</td>
<td>$531,500</td>
<td>3.2%</td>
<td>-5.9%</td>
</tr>
<tr height="17">
<td height="17">EPPING*</td>
<td>$300,000</td>
<td>-3.6%</td>
<td>-15.5%</td>
</tr>
<tr height="17">
<td height="17">ESSENDON</td>
<td>$464,000</td>
<td>3.1%</td>
<td>10.6%</td>
</tr>
<tr height="17">
<td height="17">FAIRFIELD*</td>
<td>$405,000</td>
<td>-8.0%</td>
<td>8.2%</td>
</tr>
<tr height="17">
<td height="17">FERNTREE GULLY*</td>
<td>$378,000</td>
<td>-8.4%</td>
<td>3.9%</td>
</tr>
<tr height="17">
<td height="17">FITZROY*</td>
<td>$532,500</td>
<td>-25.0%</td>
<td>-4.8%</td>
</tr>
<tr height="17">
<td height="17">FLEMINGTON*</td>
<td>$308,000</td>
<td>-21.5%</td>
<td>-30.0%</td>
</tr>
<tr height="17">
<td height="17">FOOTSCRAY</td>
<td>$342,500</td>
<td>8.4%</td>
<td>-15.4%</td>
</tr>
<tr height="17">
<td height="17">FOREST HILL*</td>
<td>$419,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">GLEN HUNTLY*</td>
<td>$561,000</td>
<td>16.9%</td>
<td>18.1%</td>
</tr>
<tr height="17">
<td height="17">GLEN WAVERLEY*</td>
<td>$563,800</td>
<td>9.5%</td>
<td>-10.5%</td>
</tr>
<tr height="17">
<td height="17">GREENSBOROUGH*</td>
<td>$457,500</td>
<td>26.4%</td>
<td>4.5%</td>
</tr>
<tr height="17">
<td height="17">HAMPTON</td>
<td>$700,000</td>
<td>16.9%</td>
<td>9.4%</td>
</tr>
<tr height="17">
<td height="17">HAWTHORN</td>
<td>$490,000</td>
<td>5.6%</td>
<td>-3.9%</td>
</tr>
<tr height="17">
<td height="17">HAWTHORN EAST*</td>
<td>$541,550</td>
<td>-10.2%</td>
<td>3.0%</td>
</tr>
<tr height="17">
<td height="17">HEIDELBERG HEIGHTS*</td>
<td>$406,000</td>
<td>-18.1%</td>
<td>-8.8%</td>
</tr>
<tr height="17">
<td height="17">HIGHETT*</td>
<td>$460,000</td>
<td>-7.8%</td>
<td>-12.0%</td>
</tr>
<tr height="17">
<td height="17">HILLSIDE*</td>
<td>$330,000</td>
<td></td>
<td>-7.6%</td>
</tr>
<tr height="17">
<td height="17">HUGHESDALE*</td>
<td>$470,000</td>
<td>-1.1%</td>
<td>-7.8%</td>
</tr>
<tr height="17">
<td height="17">IVANHOE*</td>
<td>$551,000</td>
<td>-3.3%</td>
<td>-10.7%</td>
</tr>
<tr height="17">
<td height="17">KEILOR EAST*</td>
<td>$535,500</td>
<td>2.0%</td>
<td>-17.6%</td>
</tr>
<tr height="17">
<td height="17">KENSINGTON</td>
<td>$527,000</td>
<td>35.1%</td>
<td>16.7%</td>
</tr>
<tr height="17">
<td height="17">KEW</td>
<td>$609,750</td>
<td>8.2%</td>
<td>8.9%</td>
</tr>
<tr height="17">
<td height="17">LANGWARRIN*</td>
<td>$310,000</td>
<td>1.6%</td>
<td>-4.6%</td>
</tr>
<tr height="17">
<td height="17">MACLEOD*</td>
<td>$437,500</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">MAIDSTONE*</td>
<td>$503,500</td>
<td>8.9%</td>
<td>20.6%</td>
</tr>
<tr height="17">
<td height="17">MALVERN EAST*</td>
<td>$655,000</td>
<td>6.0%</td>
<td>74.7%</td>
</tr>
<tr height="17">
<td height="17">MALVERN*</td>
<td>$678,500</td>
<td>30.4%</td>
<td>37.1%</td>
</tr>
<tr height="17">
<td height="17">MARIBYRNONG*</td>
<td>$460,000</td>
<td>3.7%</td>
<td>6.7%</td>
</tr>
<tr height="17">
<td height="17">MELBOURNE</td>
<td>$420,000</td>
<td>-3.0%</td>
<td>-7.7%</td>
</tr>
<tr height="17">
<td height="17">MENTONE</td>
<td>$480,000</td>
<td>3.2%</td>
<td>2.2%</td>
</tr>
<tr height="17">
<td height="17">MILL PARK*</td>
<td>$312,500</td>
<td></td>
<td>-12.0%</td>
</tr>
<tr height="17">
<td height="17">MITCHAM*</td>
<td>$461,000</td>
<td>1.3%</td>
<td>-8.6%</td>
</tr>
<tr height="17">
<td height="17">MONTMORENCY*</td>
<td>$429,000</td>
<td></td>
<td>-15.5%</td>
</tr>
<tr height="17">
<td height="17">MOONEE PONDS*</td>
<td>$439,000</td>
<td>-2.6%</td>
<td>-19.4%</td>
</tr>
<tr height="17">
<td height="17">MOORABBIN*</td>
<td>$492,500</td>
<td>11.4%</td>
<td>2.0%</td>
</tr>
<tr height="17">
<td height="17">MORDIALLOC*</td>
<td>$470,500</td>
<td>-0.9%</td>
<td>4.6%</td>
</tr>
<tr height="17">
<td height="17">MORNINGTON</td>
<td>$387,500</td>
<td>-15.3%</td>
<td>-2.3%</td>
</tr>
<tr height="17">
<td height="17">MOUNT ELIZA*</td>
<td>$392,500</td>
<td>23.1%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">MOUNT MARTHA*</td>
<td>$410,500</td>
<td></td>
<td>-16.2%</td>
</tr>
<tr height="17">
<td height="17">MOUNT WAVERLEY</td>
<td>$558,750</td>
<td>-6.0%</td>
<td>-12.8%</td>
</tr>
<tr height="17">
<td height="17">MULGRAVE*</td>
<td>$402,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">MURRUMBEENA*</td>
<td>$570,000</td>
<td>9.6%</td>
<td>4.9%</td>
</tr>
<tr height="17">
<td height="17">NEWPORT*</td>
<td>$514,000</td>
<td>-7.5%</td>
<td>-10.0%</td>
</tr>
<tr height="17">
<td height="17">NIDDRIE*</td>
<td>$685,000</td>
<td>34.3%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">NOBLE PARK</td>
<td>$284,950</td>
<td>-3.8%</td>
<td>-7.3%</td>
</tr>
<tr height="17">
<td height="17">NORTH MELBOURNE</td>
<td>$485,500</td>
<td>-1.9%</td>
<td>9.3%</td>
</tr>
<tr height="17">
<td height="17">NORTHCOTE*</td>
<td>$515,000</td>
<td>4.1%</td>
<td>-8.8%</td>
</tr>
<tr height="17">
<td height="17">OAK PARK*</td>
<td>$425,000</td>
<td></td>
<td>-5.3%</td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH EAST*</td>
<td>$521,559</td>
<td></td>
<td>-5.0%</td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH SOUTH*</td>
<td>$460,000</td>
<td>0.7%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH*</td>
<td>$399,950</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">ORMOND*</td>
<td>$500,000</td>
<td>-1.8%</td>
<td>-13.9%</td>
</tr>
<tr height="17">
<td height="17">PARKDALE*</td>
<td>$485,000</td>
<td>6.6%</td>
<td>4.5%</td>
</tr>
<tr height="17">
<td height="17">PASCOE VALE</td>
<td>$426,000</td>
<td>-2.1%</td>
<td>3.2%</td>
</tr>
<tr height="17">
<td height="17">POINT COOK*</td>
<td>$361,500</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">PORT MELBOURNE</td>
<td>$690,000</td>
<td>3.0%</td>
<td>-2.4%</td>
</tr>
<tr height="17">
<td height="17">PRAHRAN</td>
<td>$445,000</td>
<td>0.2%</td>
<td>-18.2%</td>
</tr>
<tr height="17">
<td height="17">PRESTON*</td>
<td>$380,000</td>
<td>-5.0%</td>
<td>-11.6%</td>
</tr>
<tr height="17">
<td height="17">RESERVOIR</td>
<td>$365,500</td>
<td>1.5%</td>
<td>-6.5%</td>
</tr>
<tr height="17">
<td height="17">RICHMOND</td>
<td>$493,500</td>
<td>-16.7%</td>
<td>0.3%</td>
</tr>
<tr height="17">
<td height="17">RINGWOOD</td>
<td>$385,500</td>
<td>5.6%</td>
<td>-6.4%</td>
</tr>
<tr height="17">
<td height="17">RINGWOOD EAST*</td>
<td>$385,000</td>
<td>2.4%</td>
<td>-1.3%</td>
</tr>
<tr height="17">
<td height="17">ROSANNA*</td>
<td>$466,500</td>
<td></td>
<td>-11.1%</td>
</tr>
<tr height="17">
<td height="17">ROSEBUD*</td>
<td>$308,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">ROWVILLE*</td>
<td>$420,100</td>
<td>-10.2%</td>
<td>3.7%</td>
</tr>
<tr height="17">
<td height="17">SANDRINGHAM*</td>
<td>$610,000</td>
<td>8.0%</td>
<td>-15.3%</td>
</tr>
<tr height="17">
<td height="17">SEAFORD*</td>
<td>$320,000</td>
<td>-1.5%</td>
<td>-11.7%</td>
</tr>
<tr height="17">
<td height="17">SOUTH MELBOURNE*</td>
<td>$555,250</td>
<td>-23.9%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">SOUTH YARRA</td>
<td>$565,000</td>
<td>2.7%</td>
<td>1.8%</td>
</tr>
<tr height="17">
<td height="17">SOUTHBANK</td>
<td>$540,000</td>
<td>4.9%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">ST ALBANS*</td>
<td>$275,000</td>
<td>-15.8%</td>
<td>-8.9%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA</td>
<td>$476,000</td>
<td>1.9%</td>
<td>-0.8%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA EAST</td>
<td>$452,000</td>
<td>-3.4%</td>
<td>-5.6%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA WEST*</td>
<td>$440,000</td>
<td>1.1%</td>
<td>-10.4%</td>
</tr>
<tr height="17">
<td height="17">SUNBURY*</td>
<td>$277,500</td>
<td></td>
<td>-14.9%</td>
</tr>
<tr height="17">
<td height="17">SUNSHINE*</td>
<td>$263,000</td>
<td>-6.1%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">SURREY HILLS*</td>
<td>$635,000</td>
<td>9.7%</td>
<td>0.2%</td>
</tr>
<tr height="17">
<td height="17">SYDENHAM*</td>
<td>$320,000</td>
<td>-5.0%</td>
<td>-4.9%</td>
</tr>
<tr height="17">
<td height="17">TEMPLESTOWE LOWER*</td>
<td>$604,500</td>
<td>12.9%</td>
<td>-0.1%</td>
</tr>
<tr height="17">
<td height="17">TEMPLESTOWE*</td>
<td>$570,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">THORNBURY*</td>
<td>$432,000</td>
<td>13.2%</td>
<td>7.1%</td>
</tr>
<tr height="17">
<td height="17">TOORAK</td>
<td>$652,750</td>
<td>-2.6%</td>
<td>-7.1%</td>
</tr>
<tr height="17">
<td height="17">TULLAMARINE*</td>
<td>$292,500</td>
<td>-14.1%</td>
<td>-19.9%</td>
</tr>
<tr height="17">
<td height="17">WERRIBEE*</td>
<td>$250,000</td>
<td>-1.0%</td>
<td>-10.1%</td>
</tr>
<tr height="17">
<td height="17">WEST FOOTSCRAY*</td>
<td>$354,000</td>
<td>-15.7%</td>
<td>1.1%</td>
</tr>
<tr height="17">
<td height="17">WEST MELBOURNE*</td>
<td>$598,250</td>
<td>-6.5%</td>
<td>24.4%</td>
</tr>
<tr height="17">
<td height="17">WILLIAMSTOWN*</td>
<td>$445,000</td>
<td>5.1%</td>
<td>-32.4%</td>
</tr>
<tr height="17">
<td height="17">WINDSOR*</td>
<td>$400,000</td>
<td>-19.4%</td>
<td>-29.8%</td>
</tr>
<tr height="17">
<td height="17">YARRAVILLE*</td>
<td>$530,000</td>
<td>1.0%</td>
<td>12.1%</td>
</tr>
</tbody>
</table>
Source: Real Estate Institute of Victoria
*Indicates that fewer than 30 sales were recorded during the quarter
For more property research and latest sales, visit the <a target="_blank" href="https://www.reiv.com.au/">REIV website.</a>
 
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cknowlton-QnEa6ntUYP

Melbourne unit prices – how your suburb went in the 2012 March quarter: REIV

<html><body>
Melbourne property prices remained flat over the March quarter, according to the Real Estate Institute of Victoria.
The median house price in metropolitan Melbourne was $535,000, representing a minor 0.9% increase over the year and the same rise from the revised $530,000 December quarter median.
REIV chief executive Enzo Raimondo says demand for residential property over the past year reflected the broader state of the economy and forecast that buyers will continue to find prices maintaining current levels in the short term.
“The property market moves in cycles and now we are in one of stability, with overall median house prices showing no real growth.
“The median house price has increased $5000 since March 2011, confirming a very stable market in relation to prices.”
The unit market fell 1.1% to $445,000 from $450,000 in the December quarter and fell by a larger 4.2% decline over the year.
The fluctuations follow a five-year period during which the median house price increased by 43% and 39% for units.
“Until the economy and confidence improve, the market is likely to remain as it is now,” Raimondo says.
Kew edged out Brighton and Camberwell to be the most expensive suburb to buy a house.
Suburbs like Ringwood, Coburg and Footscray, in the middle of the market pricing, recorded much of the strongest growth.
 
 
 
 
 
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jchancellor-FAypfDUnLy

Melbourne property prices flat in March quarter: REIV

<html><body>
Only Darwin and Hobart went against the national trend of static or falling rents over the March quarter according to the latest APM rental report.
The report found rents remained stable or fell during the March quarter in most capital cities, giving temporary relief to renters.
But senior economist at APM Dr Andrew Wilson says flat or falling rental growth for both units and houses in most capital cities has not resulted in falling gross rental yields.
The median weekly asking rent for houses in Australia was $409 for the March quarter, while median asking rent for units declined 1.1% to $401 over the same period.
Darwin had the greatest quarterly and yearly rent increase for houses but was the only capital where yields went down for houses. House rents rose 3.6% over the quarter and 11.8% over the year to $570 a week. House yields went up 9.6% over the year to 4.94%. Unit rents are down 2.1% over the quarter but up 2.2% over the year, while unit yields went up 11.2% over the year to 5.58%.
Hobart house rents increased, but the Tasmanian capital had the greatest yearly fall for unit rents. It was the only capital where unit yields went down over the year. It had the greatest yearly fall in yields for houses. House rents rose 3.1% over the quarter to $330 a week, up 1.5% over the year. House yields are down 1.4% over the year to 5.23%. Unit rents are unchanged over the quarter and down 3.7% over the year. Unit yields are down 1.3% for the year to 5.13%.
<img src="/images/stories/apmapril13.gif">
Sydney had the greatest quarterly fall for unit rents over the quarter. House rents remain unchanged over the quarter at $500 a week, up 2% over the year. House yields are up 5.8% for the year to 4.71%. Unit rents are down 2.2% over the quarter to $450 a week and unchanged over the year. Unit yields are up 3.7% over the year to 5.18%.
<img src="/images/stories/apmapril134.gif">
Melbourne had the greatest yearly fall for house rents. It had the greatest yearly increase in yields for houses. House rents remain unchanged over the quarter at $360 a week, down 1.4% over the year. House yields are up 11% over the year to 4.12%. Unit rents are unchanged over the quarter and over the year at $350 a week. Unit yields are up 4.6% over the year to 4.63%.
Brisbane had the greatest yearly increase for units. House rents are unchanged over the quarter at $380 a week, up 2.7% over the year. House yields are up 7.7% over the year to 5.08%. Unit rents are unchanged over the quarter at $365 a week up 4.3% over the year. Unit yields are up 6.6% over the year to 5.29%.
<img src="/images/stories/apmapril132.gif">
In Adelaide house rents are down 0.6% over the quarter and over the year at $338 a week. Yields for houses went up 6% over the year to 4.69%. Unit rents are unchanged over the quarter and over the year at $280 a week. Unit yields are up 4.2% over the year to 4.98%.
Perth had the greatest yearly increase in yields for units. House rents are unchanged over the quarter at $400 a week, up 3.9% over the year. House yields went up 10.8% over the year to 4.92%. Unit rents are unchanged over the quarter at $350 a week, up 2.9% over the year. Unit yields increased 16.6% over the quarter to 5.5%.
over the year to 5.29%.
 
<img src="/images/stories/apmapril133.gif">
In Canberra hose rents are down 2% over the quarter at $490 a week, up 2.1% over the year. House yields increased 3.9% over the year to 4.97%. Unit rents are down 1.1% over the quarter to $435 a week up 1.2% over the year. Unit yields are up 3.7% over the year to 5.65%.
Wilson says increased buyer activity over the March quarter has taken some pressure off rental markets, but the reprieve won’t last long.
“Improved housing affordability with the bottoming of the price cycle, falling interest rates and an improved economic outlook has facilitated increased buyer activity in most capital cities particularly from first homeowners,” says Wilson.
“This has taken some demand pressure off rental markets with flat rental growth recorded over the March quarter as a consequence.
“However with ongoing shortages of accommodation, low levels of new supply and continued inactivity by investors, upward pressure on rentals can be expected to resume in most centres over 2012.”
He says this is particularly evident in Sydney where ABS figures show a 60% state-wide surge in first homebuyer loans over the last quarter of 2011 which has reduced demand for rental properties, particularly units.
“Units continue to provide higher gross rental returns compared to houses in all the mainland capitals,” says Wilson.
“Gross investment yield growth should track sideways from mid-2012 as prices and rental increases emerge concurrently.”
He says Melbourne continues to be most tenant-friendly capital.
Photograph courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
 
 
 
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awalsh-7Ub9EypybQ

Rents stable or falling in all capitals bar Darwin and Hobart in March quarter: APM

<html><body>
House prices are expected to bottom out later in the year and then starting rising modestly from 2013 led by Western Australia, the latest NAB quarterly residential property market survey has forecast.
National house prices fell 1.3% in the first three months of the year, following a fall of 2% in the 2011 December quarter and a 2.4% decline in the September 2011 quarter, according to the survey of about 300 property market participants, including real estate agents and property developers. 
Those surveyed are forecasting a further 0.2% decline over the next 12 months and then 1.6% growth in 2013 and 2014. 
Western Australia is the “standout for price growth” over the next 12 months, with a 1.3% rise expected. NAB is most pessimistic about Victoria, with house prices forecast to fall 1.5% over the same period.
NSW house prices are expected to remain flat with growth of just 0.4%, and small declines are forecast for SA/NT (-0.6%) and Queensland (-0.2%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nabapril13.gif"><img src="/images/stories/nabapril13thumb.gif"></a>
Over the March quarter stronger outcomes were recorded in all states bar NSW, where house prices fell by 0.4% following a 0.3% decline in the December 2011 quarter. 
Despite the drop, NSW was the second best performing market over the March quarter after WA, where prices fell 0.1% following a 1.4% decline in the previous quarter. 
Prices were significantly weaker in Queensland (-2.4%), SA/NT (-1.9%) and Victoria (-1.8%). 
The national rental market showed little growth over the quarter, with house rents rising 1.1%. It is expected to pick up by 2.9% over the next year and 4.3% over next two years.
There was a wide divergence in rental market performance, with a notable softening in rental markets in SA/NT and a “big turnaround in the rental story in Victoria”.
“With slower population growth and higher construction rates contributing to rising residential vacancy rates in metropolitan Melbourne, Victorian rents fell -0.2% in the first quarter of 2012, compared with a 0.4% increase in the previous quarter. In contrast, rental growth was strongest in WA (2.6%) and NSW (2.2%),” says the report.
National rental growth expectations over the next year softened to 2.9% from a forecast of 3.2%, with growth of 4.3% forecast (previously 4.6%) over next two years. NAB expects rental returns to continue to be strongest in NSW and WA.
While the outlook for rents in WA (4.5%) and Queensland (2.4%) was broadly unchanged, expectations softened in SA/NT (2.6% from 3.7% previously), Victoria (1.5% from 1.8% previously) and in NSW (3.8% from 4.5% previously). 
Expectations softened in all states bar Victoria (2.9% from 2.8% previously), but it remains the weakest state for rental growth overall. Rental expectations over the next two years remain strongest in WA (5.7%), NSW (5.2%) and SA/NT (5%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nabapril131.gif"><img src="/images/stories/nabapril131thumb.gif"></a>
Positive rents and falling home values will continue to support rental yield growth, says NAB. 
The other key findings of the report were:
<ul>
<li>First-home buyers and resident investors less active in the market for new property, but overseas buyer activity increases. Demand for new property still strongest for inner-city houses and low-rise apartments/townhouses. </li>
</ul>
<ul>
<li>Tight credit conditions and housing affordability cited as the most “significant” constraints on new housing development. Lack of development sites and construction costs becoming problematic, especially in WA. </li>
</ul>
<ul>
<li>Overall demand for existing property improved slightly. Houses still the most preferred type of property, especially in the inner city. Low- and high-rise middle-ring apartments/townhouses are the least preferred option for existing property buyers. </li>
</ul>
<ul>
<li>Capital growth expectations remain strongest for existing property in the sub-$500,000 price range. Outlook for premium property remains “poor”. </li>
</ul>
<ul>
<li>Access to credit still viewed as the biggest impediment to purchasing existing property but the level of concern is being slowly pared back. Employment security has emerged as the next biggest concern, with Victoria the most pessimistic state.</li>
</ul>
 
 
 
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lschlesinger-FZcF9M3vE6

House prices to bottom out in 2012 and start rising from 2013: NAB

<html><body>
Now that we’re a quarter of the way through the year and our property markets have had a chance to show their hand, it’s probably a good time to do a whip around Australia and see how property is performing.

<a target="_blank" href="https://www.rpdata.com/">RP Data</a> has reported their March quarter house price index results and the findings were encouraging.
Once again, the latest stats will disappoint the doomsayers who frequent the property forums and for the last four years have been predicting an apocalypse.
What the stats show
Overall Australian dwelling values were unchanged across the eight capital cities over the first three months of this year. In fact, RP Data-Rismark’s hedonic index data suggests that Australian dwelling values have not budged at all since the end of October 2011.
The tide is turning
Of course, there is not one property market in Australia, so while the market is flat in general there are markets within markets, each pulled by a multitude of influences and, as a result, sectors within sectors are performing at differing speeds.
<table style="width: 432px;" border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="140">
City
</td>
<td colspan="2" valign="top" width="293">
Index results as at March 31, 2012
</td>
</tr>
<tr>
<td valign="top" width="140">
 
</td>
<td valign="top" width="151">
Median dwelling price 
</td>
<td valign="top" width="142">
Change in dwelling values March 2012 qtr
</td>
</tr>
<tr>
<td valign="top" width="140">
Sydney
</td>
<td valign="top" width="151">
$525,000
</td>
<td valign="top" width="142">
1.1%
</td>
</tr>
<tr>
<td valign="top" width="140">
Melbourne
</td>
<td valign="top" width="151">
$465,000
</td>
<td valign="top" width="142">
-0.8%
</td>
</tr>
<tr>
<td valign="top" width="140">
Brisbane
</td>
<td valign="top" width="151">
$400,000
</td>
<td valign="top" width="142">
-0.4%
</td>
</tr>
<tr>
<td valign="top" width="140">
Adelaide
</td>
<td valign="top" width="151">
$370,000
</td>
<td valign="top" width="142">
-1.5%
</td>
</tr>
<tr>
<td valign="top" width="140">
Perth
</td>
<td valign="top" width="151">
$445,000
</td>
<td valign="top" width="142">
-0.7%
</td>
</tr>
<tr>
<td valign="top" width="140">
Hobart
</td>
<td valign="top" width="151">
$340,000
</td>
<td valign="top" width="142">
7.3%
</td>
</tr>
<tr>
<td valign="top" width="140">
Darwin
</td>
<td valign="top" width="151">
$470,000
</td>
<td valign="top" width="142">
3.9%
</td>
</tr>
<tr>
<td valign="top" width="140">
Canberra
</td>
<td valign="top" width="151">
$529,975
</td>
<td valign="top" width="142">
0.0%
</td>
</tr>
<tr>
<td valign="top" width="140">
Capital city aggregate
</td>
<td valign="top" width="151">
$445,000
</td>
<td valign="top" width="142">
0.0%
</td>
</tr>
</tbody></table>
Source: RP Data
Clearly our property markets have slumped over the last 12 months, as the following table shows, but the latest results suggest we are now in the consolidation phase of the property cycle.
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Apartments outperformed houses
Units outperformed houses in Australia’s major capital cities by a wide margin during March. Capital city apartment prices increased by 0.9% during the month to a median of $400,000, while detached house prices increased by just 0.1% to a median of $464,500.
Let’s now look at some of our major property markets in a little more detail.
Sydney 
Sydney has been outperforming the rest of Australia, but the top end of the market is still suffering from an oversupply of property relative to the reduced demand.  However, affordable gentrified suburbs within close proximity to the city, transport, amenities and infrastructure are performing well. 
In particular, well located apartments in the inner western suburbs and Sydney’s eastern suburbs are being snapped up by investors and owner-occupiers at hotly contested auctions according to George Raptis, director of <a href="https://www.sydneybuyersagent.com.au/" target="_blank">Metropole Property Strategists in Sydney</a>. 
“I’d like some of the property doomsayers to come to one of these auctions and see how many genuine bidders are in the market for the small selection of good properties for sale,” says Raptis. 
“The market for well-located apartments is likely to remain strong throughout the year. Strong rental demand, a shortage of rental properties, tightening vacancies and rising rents means investors will vie for the same apartments as owner-occupiers, underpinning prices.” 
Melbourne 
Different segments of the Melbourne housing market are at different stages of the property cycle. 
There is still an oversupply of property at the top end relative to the reduced demand for luxury property. While there is more competition for properties in the middle end of the market, there is still an oversupply of properties relative to demand, even though recent auction clearance rates have been encouraging. 
Currently there are some good investment opportunities buying established apartments in Melbourne’s southern or eastern suburbs and adding value through renovations. 
But there are some segments of the Melbourne property market to avoid. 
According to Charles Marvelli, head of the <a href="https://www.melbournebuyersagent.com.au/">Melbourne buyer’s agency</a> division of Metropole Property Strategists, “Builders and developers have got ahead of themselves, and there is an oversupply of newly built house-and-land packages in Melbourne’s outer western suburbs such as Point Cook and Melton. Currently there is a flood of new properties, but buyers are showing a preference for two- to three-year-old homes which can be bought considerably cheaper than new stock.” 
“There is also an oversupply of inner-city CBD apartments, with more being completed in the next few years at a time when there is less demand from the tenant demographic that rents in the CBD,” adds Marvelli. 
“This will put downward pressure on prices and rentals. I expect there will be an oversupply of inner-CBD and near-CBD apartments in Melbourne for a few years, causing prices to fall slightly” he says. 
Brisbane
 
House prices in Brisbane have dropped for the last two years and are now 11% below their peak, but there are tentative signs of improvement in this market. 
However, Brisbane buyers are lacking the necessary confidence to re-enter the market, instead sitting on the sidelines waiting for signs that real estate has bottomed before they make a purchase. 
Vacancy rates have fallen to 2.2% in December 2011 from 3.7% 15 months earlier, suggesting that the market is working through an overhang in supply, and there is evidence that investors as well as owner-occupiers are slowly returning to the market. 
The prestige end of the Brisbane housing market is suffering, but more affordable homes within five to 10km of the CBD are likely to perform well when the upswing eventually takes place. 
One area of opportunity is the established apartment market around Auchenflower and Toowong, where you can find 1970s and 1980s apartments with good size rooms, close to amenities and within a brisk stroll to the CBD. 
Increasing confidence with a new state government and an upswing in economic conditions, along with improved affordability, suggest that prices should stabilize over the next six months before starting to edge upwards. 
However, there are a large number of off-the-plan apartments available in the Brisbane CBD and surrounding suburbs. Many of these remain unsold, and this oversupply of properties will put downward pressure on prices and rentals in these suburbs. 
Many of the apartments that have been sold off the plan are coming on stream in the next few years and have been purchased by investors. Some will have difficulty getting finance and settling their purchase. Others will be disappointed to see the end value of their properties is less than the original purchase price. 
Adelaide
 
The Adelaide property market has been flat for some time now. Prices fell a further 1.5% over the last three months and are likely to correct a little more before the market bottoms. 
<a href="https://www.anz.com.au/" target="_blank">ANZ Bank</a> reports that, “While the SA housing market should remain subdued through the first half of 2012, the economic benefits from a number of large non-residential building redevelopments in Adelaide (Royal Adelaide Hospital, Adelaide Convention Centre and Adelaide Oval) and a positive outlook for regions benefitting from major mining and energy projects (including the proposed Clinton and Arckaringa Basin coal-to-liquid gas project and Olympic Dam) should drive an improved outlook into 2013. We expect rental vacancies will grind lower through 2012 and 2013, while house prices should trough around mid-2012.” 
Perth
 
While the WA economy continues to benefit from our resources boom, the Perth property market is still suffering a hangover from its pre-GFC boom. 
In the three years leading up to the 2008 peak in house prices, WA house prices increased 20% per annum on average, compared to a national average of 6% per annum. Since then, investors and homeowners have deserted the Perth residential property market, prices have fallen and are currently 8.2% below their March 2008 peak. 
However, there are signs of optimism creeping back and some areas of the Perth market are likely to turn around later this year or in 2013. 
What next?
We’re entering the stabilization phase of the property cycle, where buyers are returning and slowly taking up available stock, but not really pushing up prices yet.
This means our property markets are likely to remain soft this year, but should keep consolidating.
One encouraging sign is that first time buyers are back, applying for loans at levels not seen for two years. Remember, first time buyers are typically a good barometer for changes in affordability.
How soon things turn around will depend a lot on buyer confidence, and this will depend upon what’s happening overseas, how our local government performs and what happens with interest rates.
Does this mean you should put your money under the mattress or buy gold bullion rather than invest in property?
You already know what I’m going to say, don’t you? 
Property is more than just an investment – it is a fundamental human requirement. Everyone needs a roof over their head, whether they rent or own their own home. As a basic necessity, housing will always be in demand – it will always have value because we simply can’t live without it.
The long-term future is assured for those who invest in property.
At some stages in the economic cycle property values will rise strongly and at other times they will languish. When people can’t afford to buy property (when price growth slows because of decreased demand), people end up renting, so investors win by getting better returns. And that is currently happening as rents rise strongly.
Of course, this also means that buying any property and hoping it will make a good investment just won't work at this stage of the cycle.
You need to buy the right type of property. One that has a level of scarcity – meaning it will be in continuous strong demand by owner occupiers (to keep pushing up its value) and tenants (to help subsidise your mortgage); in the right location (one that has outperformed the long-term averages), at the right time in the property cycle (that would be now in many states) and for the right price.
Then hold it as a long-term investment and reap the rewards.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
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Tide is turning for Australia's property markets

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The Eiger Chalet at Perisher in the NSW ski fields has been listed for sale.
<img src="/images/stories/eiger.jpg">
It’s the first time the ski lodge, along with its White Spider restaurant in Perisher, will have been sold since its construction by its original owners and builders. They have put the accommodation and restaurant up for April 19 auction through Ray White Hotels Australia.
White Hotels Australia director Andrew Jolliffe says the premises was once the number one place to stay in the Australian Alps. "The business leasehold will be sold on a walk-in walk-out basis, comprising an impressive inventory of restaurant, accommodation and over-snow equipment," Jolliffe says.
<img src="/images/stories/eiger2.jpg">
Established in 1961, Eiger Chalet sits 100 metres from the Perisher chairlifts and 250 metres from the Perisher ski tube terminal.  Named after the famous ski resorts in Switzerland, Eiger is co-owned by a consortium of investors including the Fischer family.
It's a 66-bed public lodge with a 100-seat restaurant. The property's lease with the National Parks and Wildlife Service runs until 2025, with the potential of a 30-year extension to 2055. It was briefly listed for sale back in 1989.
<img src="/images/stories/eiger3.jpg">
It’s now listed by Jolliffe in conjunction with Ray White Snowy Mountains Region agent Richard Pembroke. Given the recent sale of the nearby 70-bedroom St Moritz for $3.2 million, more than $2.5 million is tipped for the 2,000-square-metre leasehold offering.
 
 
 
 
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Eiger Chalet at Perisher set for auction after 51 years' ownership

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Nine properties on RP Data's list of the top 10 sales of the week last week were in NSW, with the 10th in Canberra’s long-established Forrest.
The ACT property, priced at $1,950,000, came in midway through the list at number five.
1. 1403/81 Macleay Street, Potts Point, NSW, 2011 three-bedroom unit, sold on April 5 for $2,950,000 by Richardson &amp; Wrench Elizabeth Bay/Potts Point. 
2. 12 Toocooya Road, Hunters Hill, NSW, 2110 four-bedroom home, sold on April 3 for $2,700,000 by McGrath Estate Agents. 
3. 246 Glenmore Road, Paddington, NSW, 2021 three-bedroom home, sold at auction on April 3 for $2,500,000 by Di Jones Real Estate. 
4.  48 Cook Road, Centennial Park, NSW, 2021 four-bedroom home, sold on April 3 for $2,125,000 by Di Jones Real Estate. 
5. 86 Arthur Circuit, Forrest, ACT, 2603 six-bedroom home, sold on April 3 for $1,950,000 by Peter Blackshaw Real Estate. 
6. 9 Leura Road, Double Bay, NSW, 2028 two-bedroom home, sold prior to auction for $1,900,000 by BHR Group. 
7. 3/3 Bradley Avenue, Bellevue Hill, NSW, 2023 three-bedroom unit, sold on April 3 for $1,525,000 by Bradfield &amp; Prichard Double Bay. 
8. 68 St James Road, Bondi Junction, NSW, 2022 three-bedroom home, sold at auction on April 4 for $1,460,000 by Ray White Unlimited. 
9. 42 Connelly Way, Kellyville, NSW, 2155 six-bedroom home, sold on April 3 for $1,390,000 by McGrath Estate Agents.
10. 123a Eastern Road, Tarramurra, NSW, 2074 four-bedroom home, sold on April 4 for $1,353,000 by Belle Property.
 
 
 
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Top 10 sales of the week: RP Data

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Like baking a soufflé, successful property investing requires three important elements: a well-proven recipe, good ingredients and technique. 
Successful property investors know only too well that shortcuts or lack of research are sure to cause financial distress. They also know that given the level of expertise and knowledge required to make the right decision it is essential that they have the best professionals on their team.
Well-proven recipe
Many property investors purchase with their heart. They buy in suburbs that they think they know with little regard for what tenants actually want. 
Successful property investing starts with purchasing the right property. A good capital growth property will pay for itself within 10 years. For those who like numbers, a property growing at a compound rate of 7% per year over a cycle will double in value in about 10 years. A poorer-performing capital growth of 5% will double in just less than 14.5 years while a superior 10% growth property will double in just over seven years. 
As an example, a $500,000 investment after 10 years will potentially grow in value to $814,447 (5% growth), $983,576 (7% growth) and $1,296,871 (10% growth). 
Good ingredients
Now that you have a good recipe, you should choose good ingredients. This involves identifying the correct name in which to purchase the property and ensuring cashflows are maximised by obtaining a depreciation schedule and scrapping schedule if embarking on a renovation. 
For many investors a trust could be a good vehicle to hold and grow wealth. The use of superannuation as a structure should also be considered, as this could mean you will pay no taxation on the investment property and potentially fund it without any additional cash resources. 
Understand the various land tax rules and finance options, as these can significantly sweeten the result. Like all good businesses you must not only grow your assets but protect them. Even if you already have property assets in your name, you can successfully protect them without moving to a trust and incurring CGT and stamp duty. 
Chan &amp; Naylor refer to the secret ingredient as a buffer. A buffer is accessible funds that can be used in emergencies including increased interest expenses, major repairs, a lost tenant, etc. 
A buffer should be measured in time and outline the span you need to make a safer investment. For example, if you say five years for a property that costs $10,000 per year to hold, then you need $50,000 in your buffer. If you choose to sell, a buffer means you do not have to accept the first offer and accommodates for highs and lows in the market. 
Technique
Property investment has a habit of throwing up the unknown, so you need to be prepared. To maximise your chance of a superior property you should take control of the outcome by manufacturing capital growth and not rely solely on market movements. 
Renovations will help turbo-boost your market value and also improve your rental yield, especially if completed soon after purchase. 
Preparation time
It is important that you choose a superior property for successful investment so don’t rush. To be sure, research varying properties in a range of areas and use all available resources including seeking assistance from a professional. 
And you have your soufflé! The main difference between following this property soufflé recipe and a Margaret Fulton recipe is that your property investing will not collapse when the unexpected happens. If you follow the three basic considerations, a lower return than expected is the worst you can expect, however with your buffer you can afford the time to see your property investment succeed. 
Bon appetit!
Ken Raiss is a certified accountant and director of <a title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" target="_self">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance. The Chan &amp; Naylor team<a target="_blank" href="https://www.propertyupdate.com.au/2012-events/national-property-and-economic-market-update/"> will be at the upcoming Metropole workshop </a>to go through the above strategies and others in detail to help you successfully manage, grow and protect your property investments.
 
 
 
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Successful property investing is like baking a souffle

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The recent release of the REIV’s calendar year medians for 2011 allows another review of the long-term performance of the residential market.
It is commonly accepted that prices double every seven to 10 years and the REIV’s research shows that, while this does not occur every time, it is a reasonable rule.
The median price of a house in Melbourne was $540,383 in 2011. Since 2001 the median price has increased by $240,383, or 80%, from $300,000. Interestingly, because 2001 was a year of strong appreciation and 2011 was not, this results in a very different outcome from the 10 years to 2010, when prices rose by 120%.
This shows that the timing of the sale and purchase and have a substantial impact on the result.
In the 20 years since 1991, the median house price has increased by $398,383 or 281%. This shows that prices grew more strongly in the latter part of the ‘90s than they did over the last decade.
In the 30 years since 1981, the increase in the median was $484,783 or 872%.
The comparison with 1971, when the median house price was a mere $12,100, does not need a percentage comparison – the substantial change is obvious.
These comparisons confirm that residential property can deliver very solid investment returns over the long term. While many commentators concentrate on the short-, often very short-term changes, the more sensible approach is to take a long-term view.
Enzo Raimondo is CEO of the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
 
 
 
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The value of Victorian houses roughly doubles every 10 years – so take a long-term view

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Have you ever stopped to think for a moment what it’s like for a property manager to evict a tenant, a person from their home?
I fully accept and agree it has to happen at times, especially when the tenant is behind in rent. But have you ever thought for a moment how you might feel or what happens or how it gets to that point?
Sometimes situations arise, and as human beings we sometimes choose not to want to deal with it.  It’s easier just to put our heads in the sand and hope it goes away. But I am afraid it doesn’t go away – it just gets worse!
Recently my office experienced a situation where the tenant who was experiencing a vast array of illnesses was continually failing behind with the rent and always had a different excuse each time as to why she hadn’t paid the rent.
The matter proceeded to court, where an order of possession was granted and the tenant failed to attend the hearing, so the owner was left with no choice but to purchase a warrant to have the tenant evicted.
A day or two before the eviction was due to take place, the tenant applied for a review on the court’s determination.  We attended the hearing – she didn’t.  Again the warrant was reactivated and the 14 days (as it is in Victoria) started all over again.
Then the tenant’s father called and begged for more time.  He wasn’t prepared to pay any of the arrears that his daughter owed, but he thought the owner should let them have more time and not evict his daughter.
All this happened and still no rent was paid.
The execution of the warrant finally took place and upon entering the house there was absolutely no sign at all that the tenant had packed a single thing.
The Salvation Army became involved and they needed numerous times and dates to co-ordinate the removal of the tenant’s goods.  This process took another three weeks.  And yes, it’s always a better result to have all the goods removed rather than proceed down the pathway of storage and auction etc., but at the end of the day – what does the owner receive?  All the rent is still outstanding, nothing has been paid and the tenant has effectively used the property as storage for the past three weeks without paying a cent.
Sometimes the perception of an owner is so misconstrued. For my owner this was his first time as an investor.  He thought he was always fair and reasonable to allow some extra time but in the end – what does he get – nothing but a lot of stress and probably a strong inability to trust again in the future!
The end result for this owner is he will fight the insurance company for the next month or two for a fair and reasonable settlement.   A process, a system and outcome that really is a little unfair!
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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