Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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The Australian housing market is at a point where it will either decline slowly or collapse swiftly due to the drive among households to reduce their debts and increase their savings, says property bear Steve Keen.
Keen, professor of economics and finance at the University of Western Sydney, says the current drive by households to reduce their debt has been a precursor to a collapse in house prices in both the US and Japan, though at different rates of decline.
“Far from preventing a house price collapse, deleveraging is what causes one,” he says.
Keen provided the following graph comparing house prices from their peaks in the US, Japan and Australia and shows Australian housing heading down one of two slopes:
<img width="470" src="/images/stories/keenmarch291.png">
“To me the only question is whether we have as slow a decline as Japan or as fast as the USA's due to deleveraging.
“So far (using ABS data till December) prices have fallen about 9% in real terms since the peak in June 2010. The wildcard for Australian housing is the reaction of mum and dad investors to the decline in house prices, since if they swap sides from buy to sell, the volume of unsold properties could grow substantially and put further pressure on prices,” he says.
His comments follow a panel discussion on the housing market in Melbourne during which RP Data senior research analyst Cameron Kusher said he agreed with Keen that there was too much debt in Australian households.
“The RBA likes the fact that households are deleveraging and putting more money into the bank,” Kusher added.
Keen told Property Observer the remarks were “very interesting”.
“They have skirted around the debt issue for some time,” Keen says.
“My argument starts from the proposition that demand for housing comes from new mortgage debt, so the level of new mortgages is the major factor in setting the level of house prices. Therefore for house prices to rise, new mortgages must be increasing faster than the supply of housing rises.
“That was the case for most of the period from 2003 till 2008, and again under the influence of the first-home vendors’ boost from 2009 till mid-2010. But since then new mortgages have falling, and that drop in monetary demand is the key factor driving prices down.
“Thus far from preventing a house price collapse, deleveraging is what causes one,” he says.
The graph below included in the March RBA chart pack shows clearly how Australian household debt as percentage of disposable income increased from less than 50% in the late 1980s and early 1990s to above 150% as well as the recent downward trend in household deleveraging.
<img width="470" src="/images/stories/keenmarch292.gif">
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Australian housing market still facing Japan- or US-style downturn due to deleveraging: Steve Keen

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Young would-be home buyers who took Prosper Australia’s advice – Don’t buy now! – exactly a year ago have typically saved themselves $58,000.
I congratulate everyone who stood aside from this dreadful Ponzi scheme known as the Australian property market.
These savings are staggering – they are genuine and they are conservatively calculated. For home buyers who waited, it is as if someone just slipped this much in their wallet.
It would take years to save $58,000 from after-tax earnings.
Consider a typical Melbourne first-home buyer couple with a 20% deposit ($120,000) ready to buy a home at the median $585,000 a year ago. Instead, they waited.
Their savings:
Melbourne median house prices have fallen 6.1% (ABS) – $35,000
The difference between Melbourne median rents $17,680 (TUV) and interest at 7.46% (WBC) on a $465,000 mortgage (ignoring stamp duty, principal repayments, rates, insurance, depreciation and repairs) – $17,009
Interest earned on $120,000 savings at 5.5% (ignoring tax) – $6,600
TOTAL: $58,609
There is a further long-term benefit not included above: the smaller required mortgage would leave an extra $250 per month interest in a buyer’s pocket, or $41,000 over a 25-year loan. This money would be available at the buyers’ discretion for living expenses or to accelerate principal repayments.
This is not a cue to immediately buy a house.
Prosper expects house prices to fall much further. We repeat our forecast made February 23 of house price falls of at least 15% and possibly 20% this calendar year.
A fall of this size will deliver massive further savings to those who resist the temptation to commit to a working life of toil lived 90 days from bankruptcy.
We urge prospective home buyers to focus on saving as large a deposit as possible. Avoid exchanging renting a house for renting money from the bank. That is not the path to economic freedom.
Don’t buy now!
David Collyer is campaign manager of <a target="_blank" href="https://www.prosper.org.au/">Prosper Australia</a>.
 
 
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First-home Melbourne buyers who didn't buy last year saved $58,000: Prosper Australia

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Christopher Joye's video take on the possibility of a rate cut next week

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Blockades remain in place and some businesses closed at 447 Collins Street in Melbourne, as many tenants still wait for compensation for lost income.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/collinsst3.jpg">A two-metre-by-one-metre marble panel fell from the Suncorp building into the forecourt, a popular lunch spot for nearby workers, on January 30, causing the City of Melbourne to issue an <a target="_blank" href="https://www.melbourne.vic.gov.au/AboutCouncil/MediaReleases/Pages/Councilstatementon477CollinsStMelbourne.aspx">emergency order</a> requiring the building to be cordoned off.
The building has since remained partially fenced off while the building’s owners, Industry Superannuation Property Trust, still continue work to remove and stabilise the remaining panels.
The blockade forced the temporary <a target="_blank" href="https://www.propertyobserver.com.au/office/tenants-yet-to-get-compensation-guidance-after-emergency-closure-of-collins-street-office-building/2012020953323">closure of many small retail businesses</a> on the street level of the building as pedestrians could not access the shops.
Tenants met with the owners of the building to discuss compensation for lost business on February 10 but more than six weeks later just one tenant has received any payout.
The tenant of one business says she hasn’t heard anything about her claim.
“We’re still waiting. They say they’re working on it,” she says.
“We’ve given them out paperwork but we haven’t heard anything yet,” a neighbouring business owner says.
While some businesses were able to stay open, they did not have their regular street access and were only accessible through the corridors of the ground floor, which is accessible through the basement car- ark of the building.
“It’s been a hard time for us. People can’t see us from the street,” one business owner says.
ISPT chief executive Daryl Browning says the onus is currently on the tenants and many still haven’t lodged paperwork.
“We don’t just write blank cheques. That wouldn’t be the right thing to do,” he says.
“There’s no question about them not being paid. When they’re able to demonstrate how much they would be forgoing [they will be compensated].
“There’s no hidden agenda here, there’s no game being played with the tenants.”
<img style="border-style: initial; border-color: initial;" src="/images/stories/collinsst5.jpg">
Despite his hairdressing business being closed for six weeks, a retailer named Abraham remains upbeat.
“We’re happy enough. We just wish it was a bit quicker.”
“It’s just lucky no one was hurt. That’s the main thing.”
He was initially told his business would be closed for just two weeks but the Flinders Lane pavement remained blocked for six weeks.
“It’s hard to say how much business we’ve lost. People will just go somewhere else.”
<img style="border-style: initial; border-color: initial;" src="/images/stories/collinsst4.jpg">
All the panels from the Flinders Lane side of the building have been removed, and work continues on the other sides of the building.
“At the moment they are simply being stabilised,” says Browning.
“Further decisions and discussions will take place in the future.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/collinsst6.jpg">“The priority is to get it stabilised.”
Browning says there is no definite date for when fencing would come down.
ISPT is one of the largest property funds in Australia, managing $7 billion worth of investments. In Melbourne it owns 500 Bourke Street, Casselden Place, 114 William Street, Melbourne GPO, 474 St Kilda Road and 50 Lonsdale Street.
ISPT bought 447 Collins Street for $81 million from AXA in November 2004.
 
 
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Retail tenants still awaiting compensation two months after Melbourne office building’s emergency closure

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The commercial property sector continued to improve in late 2011 driven by a drop in office vacancy rates and a rise in office property values and rents, according to the RBA’s latest Financial Stability Review (FSR).
The FSR notes that office property values and rents rose by about 7% over the year, but still remain around 15% below their 2007 peaks on a national basis.
The report notes that office vacancy rates in most capital cities have stabilised or declined moderately since 2009, with larger falls recorded in Perth and Brisbane, where vacancy rates had previously increased more sharply.
“The pick-up in office property prices was evident across most capital cities. Prices and rents in the industrial property market also strengthened, though conditions in the retail property market have been more subdued,” the RBA says.
<img src="/images/stories/rbamarch29.gif">
However, the RBA makes an important distinction between the recent downturn caused by the GFC and past adjustments.
“The adjustment in the commercial property market in recent years was less severe and drawn out than the downturn in the early 1990s: office property values fell by 25% over two years from their late 2007 peak, compared with a 50% peak-to-trough fall over four years in the early 1990s.
“There was a smaller supply overhang this time, and banks appear to have delayed selling some non-performing commercial property assets until conditions improved rather than selling into a depressed market,” the central bank says.
“There were some market segments, however, where stock additions at the peak of the market subsequently put pressure on vacancy rates and rents, especially than in earlier years.
 
“Lending conditions are said to be particularly tight for residential property developments in Melbourne, given concerns about a possible oversupply of apartments in that city,” says the RBA.
The report notes a slightly better lending environment, with the “quality of banks’ commercial property exposures improved slightly over 2011, but the impairment rate remains above that for banks’ total business lending (5% versus 3%)”.
“Commercial property impairments are about one-half of banks’ total impaired business assets, even though lending to the sector accounts for only about one-third of total business lending,” says the RBA.
It also notes while European banks’ exposure to the Australian commercial property has shrunk by about 60% Asian banks have increased their exposures to the market over the past two years, though from a relatively low base.
The non-bank sector continues to struggle to lend on commercial property.
“Non-bank sources of finance for commercial property remain constrained, with little issuance of commercial mortgage-backed securities in recent years and mortgage trusts’ funds under management continuing to decline,” says the RBA.
 
 
 
 
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Commercial property returns improving but still below pre-GFC peaks: RBA

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There were 896 sales in Perth this week, up 8% from the 822 last week and up 39% from the same weekend last year, according to the Real Estate Institute of Western Australia.
<img src="/images/stories/reiwamarch28.gif">
 
 
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Perth sales up 39% on same week last year: REIWA

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This week's top 10 sales crown was tightly contested between Sydney and Melbourne, but a $4,906,000 Paddington contemporary abode just pipped a partially renovated Brighton mortgagee sale.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The new contemporary Goodhope Street dwelling initially went to market in October 2011 seeking $5.8 million plus. It was called on the market at $4.83 million with competition from phone bidders from start to finish. It was knocked down to a buyer being represented by the buyers’ agent Chris Koren.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Julian Hasemer from 1st City Hasemer + Caldwell.Eyles handled the sale in conjunction with McGrath agent Ben Collier. The 257-square-metre holding last traded at $3 million in 2009, with the warehouse replaced with a home designed over three levels behind the bold eight-metre facade. It came with a two-car garage, a courtyard light well, a huge living space that opens to a walled terrace with a rectangular pool and waterfall feature, and four bedrooms and bathrooms all luxurious in their finishes and size.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The five-bedroom Brighton house that fetched $4.9 million had a reported $4 million land value. David Hart, the Buxton Brighton selling agent, says it requires just a few finishing touches to take its place as one of Brighton's most sumptuous homes. Set on a prized Golden Mile court the St Nonians Court house came with five bedrooms.

 
1. 65 GOODHOPE STREET, PADDINGTON, NSW, 2021, four-bedroom house, sold at auction on March 24 by McGrath Estate Agents for $4,906,000
<img src="/images/stories/nintijan.jpg">
2. 8 ST NINIANS COURT, BRIGHTON, VIC, 3186, five-bedroom house (pictured above), sold at auction on March 24 by Buxton Brighton for $4.9 million
3. 8 BULKARA STREET, WAGSTAFFE, NSW, 2257, five-bedroom house, sold on March 23 by Belle Property Terrigal for $3.6
4. 18 ARTHUR STREET, BELLEVUE HILL, NSW, 2023, five-bedroom house, sold on March 21 by Richardson &amp; Wrench Double Bay for $3.4 million
5. 30 VISTA STREET, GREENWICH, NSW, 2065, four-bedroom house, sold before auction at March 24 by McGrath Estate Agents for $3 million
6. 4 WINBURN AVENUE, KINGSFORD, NSW, 2032, five-bedroom house, sold at auction on March 24 by N G Farah Real Estate for $2.83 million
7. 23 WINMALEE ROAD, BALWYN, VIC, 3103, five-bedroom house, sold on March 23 by Noel Jones Balwyn for $2.8 million
8. 9 FAIRBAIRN ROAD, TOORAK, VIC, 3142, three-bedroom house, sold at auction on March 24 by Kay &amp; Burton South Yarra for $2,505,000
9. 413 BRONTE ROAD, BRONTE, NSW, 2024, three-bedroom house, sold at auction on March 24 by Goodyer Donnelley Real Estate for $2,395,000
10. 3 SOUTH AVENUE, DOUBLE BAY, NSW, 2028, three-bedroom house, sold at auction on March 20 by Bradfield Cleary Real Estate for $2.3 million
 
Last week's list top 10 sales were:
 
1. 68 LORD STREET, ROSEVILLE, NSW, 2069, five-bedroom house, sold at auction on March 17 by Belle Property Killara for $3.25 million
2. 38 REDNAL STREET, MONA VALE, NSW, 2103, five-bedroom house, sold after auction on March 17 by RE/MAX Property Specialists for $2.9 million
3. 200 WHALE BEACH ROAD, WHALE BEACH, NSW, 2107, four-bedroom house, sold at auction on March 17 by McGrath Estate Agents for $2.8 million
4. 146A WOOLOOWARE ROAD, CRONULLA, NSW, 2230, five-bedroom house sold on March 16 by Sean Egan Property Burraneer for $2.7 million
5. 45 NEWTON ROAD, STRATHFIELD, NSW, 2135, four-bedroom house, sold at auction on March 17 by Devine Real Estate for $2.4 million
6. 13 BRANDON STREET, CLOVELLY, NSW, 2031, four-bedroom house, sold at auction on March 17 by Belle Property Bondi Junction for $2,205,000
7. 8 TUNKS STREET, WAVERTON, NSW, 2060, four-bedroom house, sold at auction on March 17 by McGrath Estate Agents for $2,107,500
8. 1/142 BRIGHTON BOULEVARD, NORTH BONDI, NSW, 2026, four-bedroom unit, sold on March 13 by Raine &amp; Horne Bondi Beach for $2.1 million
9. 29 ORRONG ROAD, ELSTERNWICK, VIC, 3185, four-bedroom house, sold at auction on March 17 by Biggin &amp; Scott Elsternwick for $2.1 million
10. 25 CAMPBELL STREET, ABBOTSFORD, NSW, 2046, five-bedroom house, sold at auction on March 17 by Ray White Five Dock for $2 million
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Paddington pips Brighton for most expensive sale of the week: RP Data

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The Telstra store premises on the corner of Collins and Swanston streets – one of the busiest pedestrian corners in the Melbourne CBD – has sold ahead of auction for $9.25 million.
The buyer is a private Victorian investor who has paid the equivalent of $142,308 per square metre for the 65-square-metre shop.
<img style="border-style: initial; border-color: initial;" src="/images/stories/220collins.jpg">
It is tenanted by Telstra, which took over the lease from Vodafone last year and has a seven-year lease. The shopfront has not been vacant in the last 40 years.
The shopfront generates net income of about $544,000 per annum with 5% fixed annual rental increases equating to a yield of 5.8%
CBRE’s Josh Rutman, who negotiated the sale along with colleagues Mark Wizel and Max Cookes, said the vendor – ASX-listed property fund manager Charter Hall – had received a number of “good offers” before the scheduled on-site auction. 
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/220collins2.jpg">“There was an auction before the auction,” Rutman told Property Observer.
 
The property had been listed for sale with around $9 million hopes.
The shop at 220 Collins Street is situated on the ground floor of the 1932 Art Deco Manchester Unity building, whose completion was said to signal to Melburnians the end of the Great Depression.
It was subsequently subdivided and sold down as individual units in 1996.
It stands on a prime piece of Melbourne CBD real estate opposite the Town Hall, with about 15 million pedestrians filing past every ear – 50,000 each day.
Charter Hall had held the shop premises since 1997 in one of its small unlisted retail funds.
Telstra took over from Vodafone as its tenant last year. The shopfront has not been vacant in the last 40 years.
The Manchester Unity building was the tallest building in Melbourne when it was finished in 1932.
The corner tower is built in the commercial Gothic Modern style inspired by Raymond Hood’s competition-winning Chicago Tribune Tower.
Photographs by Alistair Walsh
 
 
 
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Private investor snaps up Collins Street Telstra store premises for $9.25 million ahead of auction

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As soon as you make the decision to sell your home, you need to look at your asset in a different way. No longer just the place where you and your family live, your home is now a product that you need to market and present to your potential buyers. Showcasing your home is all about highlighting the possibilities. The more people who see your home as desirable, the higher the price you’re likely to sell it for. Here are 10 tips to help you put yourself in the shoes of your buyers and ensure you get the best possible price for your home.
1. Understand your buyers
Different kinds of properties suit different kinds of buyers. What a young professional couple is looking for is unlikely to be the same as that which appeals to a growing family. Empty-nesters have different needs again. If you can second-guess the kind of people who may be attracted to your property you can:
<ul>
<li>Craft your marketing accordingly</li>
<li>Better understand how you can go about preparing your home for sale</li>
<li>Decide which real estate agent to choose to handle the sale.</li>
</ul>
A good real estate agent can give you insight into likely buyers based on his or her experience of the local market.
Talk to friends to get their ideas about who they think may be interested in your property, and what they might be looking for.
2. Remove personal clutter
Your first step in preparing your home for sale is to pare down your furniture and belongings. Remove any ornaments that are too personal or idiosyncratic. You may be able to see the irony in the kitsch fridge magnet your Aunt Jenny brought back from Surfer’s Paradise, but your buyers may not. As a general rule, take down family photos and children’s drawings — although you can leave a couple of the more artistic ones, especially interesting older photos.
Another benefit of carrying out this step of culling and de-cluttering early on is that it means you can more easily see what needs to be done in terms of cleaning and any repairs.
Home buyers are looking for a place they can imagine themselves being happy and proud of. So, when you come to sell your home, your job is to ensure that nothing gets in the way of your home “communicating” with potential buyers. Leave room for buyers to visualise themselves in your home.
Start by clearing your property of anything that isn’t absolutely essential to the functioning or the aesthetic attraction of a room. Clean out and tidy storage cupboards. Cull pictures, knick- knacks and junk.
Ask a friend with a discerning eye to help you be ruthless about de-cluttering your home for sale.
3. Add value with cosmetic changes
Space, freshness and light are probably the most sought-after aspects of a property (apart from storage, more on that in a minute). Many properties that have a lot to offer in this regard are overlooked by buyers because sellers have failed to carry out simple and often inexpensive improvements.
<ul>
<li>A coat of paint can freshen up both the interior and exterior of a home — and is likely to add probably twice its cost to the value of the home. Stick to neutral colours, and ensure the paint job looks professional.</li>
<li>Lift worn carpets or lino to reveal floorboards that you can polish to create a clean, modern feel. If you don’t have floorboards, replace with medium-quality floor coverings or look into installing a floating timber floor.</li>
<li>Replace tired cabinet doors and door handles in the kitchen and bathroom for an inexpensive and worthwhile lift. Re-grouting bathroom and kitchen tiles can make old tiles look new again.</li>
<li>Install a window or a skylight to brighten up a gloomy room. A window with a pleasant view over a garden or some other aspect gives a double benefit of light and space.</li>
<li>Create an outdoor entertaining area by paving a section of the backyard close to the house, and buying an inexpensive outdoor furniture set. You can do the same with an apartment balcony by adding some cheerful tubs of greenery and a barbecue.</li>
<li>Leave larger-scale structural improvements to the new owners. You’re unlikely to get the money back you spend on upgrading the infrastructure such as re-wiring or re-blocking (replacing the foundations of your property). </li>
</ul>
4. Build more storage
One of the biggest complaints of home owners is lack of storage. Having a spacious open-plan living area or three bathrooms can be cancelled out if there is nowhere to store sheets, the vacuum cleaner or family memorabilia. Wardrobes are also often all too scarce — especially in older homes where people relied in the past on a big, old, freestanding wardrobe.
Here’s how to make more space for storage:
<ul>
<li>
Rooms: Ensure each room in your property has some form of cupboard, cabinet or shelving. Even if the storage isn’t built in, you can show the room’s potential for fitting in a wardrobe or bookshelf.</li>
<li>
Linen cupboard: Everyone needs somewhere to store their sheets and towels. Perhaps you can sacrifice a section of a hallway, laundry or bathroom to install a freestanding cupboard or build one in. Make sure, though, that it’s made of material that can handle moisture and humidity. Bamboo, glass and chrome are good options.</li>
<li>
Roof space: If you’ve got a bit of space in your roof, it may be worthwhile converting it into an attic. As long as it’s properly lined and easily accessible with a fold-down ladder, this may more than pay for its value by appealing to buyers who can dream about storing their family heirlooms, winter bedding and camping equipment.</li>
<li>
Shed: If you don’t have a garage, buy a garden shed big enough to fit a few tools and a bike or lawnmower.</li>
</ul>
5. Find an enthusiastic real estate agent 
If you don’t handle the sale of your property yourself, you need to rely on a real estate agent to bring in buyers and get them interested in your home. Make sure the agent you choose understands your property’s good points and has the skills and commitment to market them with enthusiasm.
Think about whether an agent is the type of person who can communicate well to the kinds of people you’ve determined are likely to be interested in your home:
<ul>
<li>Does she dress appropriately?</li>
<li>Can she talk authoritatively without being intimidating?</li>
<li>Is she the kind of person who is likely to win the trust of your potential buyers and encourage them to make a good offer?</li>
</ul>
6. Target your marketing
Real estate agents often encourage you to spend thousands of dollars on advertising and marketing that may not even be appropriate for your property. Big glossy advertisements don’t necessarily result in bigger prices. More important may be listing your property on a major real estate website, along with a well- designed and worded signboard outside your property that attracts and informs drive-by home-seekers.
You can reach local buyers by dropping brochures in letterboxes and by placing advertisements in the local newspaper. If your property is likely to appeal to buyers from other areas, advertise in publications with a metro-wide circulation (including an agent’s own in-house magazine).
Skilful use of photographs and descriptive text can highlight your property’s best points, particularly those not obvious from the street. Sing the praises of your location as well as of the property itself.
7. Price your home properly
List your home at a price that is likely to target the right buyers. Too high and you’re narrowing your potential buyer pool, too low and you’re only going to get the opportunistic bargain hunters.
Don’t rely on real estate agents to give you a realistic price expectation. They invariably over-quote to get your property on their books. When you don’t get offers at that price they’re likely to blame the market rather than their unrealistic price expectations.
Get an independent property valuer to give you a valuation based on her knowledge of the local property market and her appraisal of your individual property. Between this figure and the agent’s over-optimistic price expectation, you can get a better idea of how to price your property.
8. Dress to impress on inspection days
The repainting, polishing, cleaning and de-cluttering are all done. On inspection day, make sure your home is fresh and welcoming. Sweep the front step, polish the doorknocker, fill the entrance with light and put fresh flowers in strategic spots around the property.
Get rid of the kids and the pets — and all evidence of them, including toys, animal hair and smells. Clear the sink and kitchen bench, and put fresh towels in the bathrooms. Burn vanilla or peppermint essential oils no less than an hour beforehand. Have soft tasteful music playing in the background, and make yourself scarce.
9. Be prepared to negotiate
When you get an offer from a buyer that may be much lower than you would like, reply courteously, letting the buyer know that you’ve done your homework and that you’re expecting a price a little closer to your listing price. Be prepared to drop around five per cent from your hoped-for price — but take guidance from your real estate agent about the demand from buyers thus far.
In an auction sale, if the property is passed in at a price lower than you like, have some negotiating points ready to offer the under-bidder. Can they offer you a better price if you volunteer a longer settlement period, for example, or if you leave the collection of large, potted palms behind?
10. Ensure a smooth transaction from contract to settlement
A contract isn’t binding until each of you has a copy signed by both of you. If you’re selling via private treaty sale:
<ul>
<li>Make sure your agent can contact you immediately when she receives a good offer.</li>
<li>Have your solicitor/conveyancer on call to be able to get moving on the conveyancing, to ensure the process goes as smoothly as possible.</li>
</ul>
For settlement day, make sure you:
<ul>
<li>Vacate the property (unless the sale goes through with tenants in place).</li>
<li>Leave it in the same condition it was in when your buyer signed the contract — otherwise the buyer has the legal right to delay or pull out of the settlement.</li>
<li>Organise the disconnection of all utilities.</li>
<li>Hand over the keys to the new owners.</li>
</ul>
 
<img src="/images/stories/sellingdummies.jpg" style="border-style: initial; border-color: initial; float: left; margin: 5px;" width="100">
Karin Derkley is a the former deputy editor of Personal Investor magazine, and continues to write for The Age and AFR Smart Investor. She has also lived through the pleasures and pitfalls of purchasing and renovating her own home. She is the author of Selling Your Home for Dummies, published by <a target="_blank" href="https://au.wiley.com/WileyCDA/">Wiley</a>. The <a target="_blank" href="https://www.dummies.com/Section/index">Dummies brand</a> is celebrating its 21st anniversary in Australia in March. This is an excerpt from Selling Your Home for Dummies.
 
 
 
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Ten tips for selling your house easily and for the best price: Karin Derkley

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<img src="/images/stories/2point6percent.gif">
The percentage of Melbourne suburbs with a median house price of under $300,000, according to RP Data. This is the second-lowest percentage in Australia; Canberra doesn't have a single suburb with a median house price under $300,000.
 
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The percentage of Perth suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/4point2percent.gif">
The percentage of Sydney suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/5point4percent.gif">
 
The percentage of Darwin suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/11percemt.gif">
The percentage of Adelaide suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/13point1percent.gif">
The percentage of Brisbane suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/41percent.gif">
The percentage of Hobart suburbs with a median house price of under $300,000, according to RP Data.
 
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<img src="/images/stories/7point1percent.gif">
The percentage of all capital suburbs with a median house price of under $300,000, according to RP Data.
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