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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“Home price slide hits mortgages”, “Increased number of homes with negative equity”, “Homes with negative equity on the increase”.
Just three headlines– from many – out of last week’s press.
Most articles started with variations of the following two sentences:
“The share of homes with mortgages worth more than the property’s value increased at the end of the last year as the housing market stalled and prices turned lower. The rise suggests an increase in negative equity, where a mortgage can be worth more than the value of a house.”
The Australian Financial Review – which really should know much better – started off by saying, “About one in seven Australian homes bought in the last five years is worth less than its purchase price. This potentially has pushed owners into negative equity.”
The source of this pessimism is data-provider RP Data and its 2011 December Quarter Equity Report. This report states that slower capital growth in the last five years, combined with more recent value falls, had left 16% of households (one in six, not one in seven, by the way AFR) bought in this period below their original price.
The document goes on further to say that:
<ul>
<li>Three out of four households with negative equity bought in the last five years.</li>
</ul>
<ul>
<li>The incidence of negative equity is highest in Queensland (12% or one in eight properties) and Western Australia (8.5% or one in 12 properties). Yet curiously, the Australian average sits at 16% or one in six, according to RPData.  Hmmm.</li>
</ul>
<ul>
<li>Negative equity is worst in north Queensland at 23% (or let’s say one in every fourth home); on the Gold Coast at 19% (or one in every fifth dwelling) and at 15% (or one in every sixth home) on the Sunshine Coast.</li>
</ul>
Yet the data provider states that this analysis does not look at debt levels by owners, only the price paid for properties and their estimated current value.
Now, before I reply to this nonsense, some facts about the Australian housing market.
<ul>
<li>According to RP Data – yes, the same RP Data – Australian dwelling prices, aggregated across the eight capital cities, rose by 8% in total over the last five years. Melbourne’s values rose the most, up 18%, while Brisbane’s fared the worst, falling by 6% since early 2008. Most of this fall was over the last 12 months and due largely to last year’s flood. Dwelling prices across regional Australia, according to our own work, have risen by 29% since the GFC.</li>
</ul>
<ul>
<li>According to AFG, the average loan to value ratio across Australia, as at March this year, is 68%. Yes, that means that most new borrowers have a third share or equity in the dwelling that they are purchasing.</li>
</ul>
<ul>
<li>Over the last five years, the average Aussie household has been saving 10% of its income. This has been done by paying off mortgages ahead of schedule, rather than reducing payments in concert with declines in interest rates.</li>
</ul>
<ul>
<li>Mortgage rates, while they have risen a little bit in recent weeks, have fallen by 2.5% (often more) since the GFC.</li>
</ul>
<ul>
<li>According to the ABS, last year, on average, households in Australia held asset values of $839,000, partially offset by average liabilities of $120,000. After adjusting for CPI, our current net average household wealth of $720,000 is 30% more than in 2004.</li>
</ul>
<ul>
<li>Equity in home ownership is about $300,000 across all Australian households, and accounts for 40% of total household wealth. Owner-residents – remember, these are official statistics and they measure actual debt levels, unlike RP Data’s study – enjoy owning, on average, four-fifths (81%) of their principal place of residence. For investors, the average equity holding is 74%.</li>
</ul>
<ul>
<li>In Queensland, the average equity for owner-occupation is 78% and for investment property is 63%.</li>
</ul>
<ul>
<li>And here is the kicker – for the 25 to 34 age cohort (i.e. first-home buyers), the average equity across Australia is 46% for owner-residents and 51% for those young ones smart enough to buy an investment property. For those aged between 35 and 44, it is 65% for owner-residents and 60% for investors.</li>
</ul>
So, what’s really left to say?
Firstly, journos need to get off their behinds, stop regurgitating the media releases put in front of them and start asking questions. Do you really think that one in every six dwellings out there has negative equity and one in every four on the Gold Coast, for example, owes more on their mortgage than what the property is actually worth? I mean really, come on. And if you are too young to own something, just ask your parents what they think.
On the commute home tonight, just look out the window and ask yourself how it could possibly be true that every sixth household is in major financial stress, what with the new cars in the driveway, the kids going to private schools, the overseas holidays and likely collections of tablets, smartphones and plasma TVs in every home.
While the general coverage of the RP Data report was misleading, it does raise important issues about current loan-to-value ratios. Many first-home buyers and investors borrow 95% plus mortgage insurance, so the loans were virtually 100% of the value of the property. Over the life of a traditional home loan, the reduction of principal is minimal at the beginning of the loan term, so some buyers might owe more than what their properties are worth, if they borrowed 95% plus within the last three to five years.
To <a href="https://matusikmissive.wordpress.com/2010/03/31/the-three-stooges/" target="_blank">argue </a>for higher minimum deposits, for example, might have been a more constructive way to air this data – and something you would expect from the country’s leading financial daily – rather than just scaremongering.
Moreover, as long as those people can afford the repayments, there is little real risk to homeowners.
Finally, too many property-related studies drive while looking in the rear view mirror. Things seen in the rear view mirror always look much larger than they really are.  Few drive looking out of the windscreen. Looking forward, higher rents are finally pushing first-home buyers into the market and also attracting investors. End prices will also, in due course, rise.
To quote a recent blogger in reply to one of the said articles above:
“People with a single live brain cell would understand that if you bought a house and stay there – negative equity has the same relevance to you as an exploding star in the parallel universe.”
I hate to get all cosmic with you, but that about wraps it up.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>. The Matusik Missive is free, however, reprinting, republication or distribution of any portion of this material, or inclusion on any website, is strictly prohibited without the written permission of Matusik Property Insights and may incur a charge.
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michaelmatusik-49YzLvdmNv

Negative equity talk is nonsense – and besides, it’s irrelevant 

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Apprehension from property buyers and sellers led to a notable reduction in stock and transaction volumes across Melbourne in 2011, triggering a decline in values by a reported 6%, according to the Australian Bureau of Statistics.
According to reports, fewer than 69,000 homes were sold in Melbourne, representing the lowest number of property sales in a decade and a drop of 37% from a peak of 109,000 transactions in 2007. This figure is well below the decade average of more than 90,000 transactions per annum.
Despite this, a more favourable performance is expected for the market in 2012, following improved affordability, subdued credit growth and a higher propensity of both groups to save.
In what is an encouraging sign for the market, Melbourne property showed marginal increases in median house and unit prices in the fourth quarter of 2011 to $550,000 and $455,000 respectively, after interest rate cuts in November and December.
The Reserve Bank's decision to leave cash rates unchanged in February affirms the strength of the local economy and will allow for a more moderate start to the property season.
Even with the anticipated improvement to sentiment, market performance will remain subject to sector-specific pressures in 2012. WBP Property Group’s property advisors have grouped each property type and forecasted its performance for the year ahead.
The luxury and mortgage-belt property segments were among the poorest performers in 2011, thanks to credit confidence and unemployment pressures. Although overall conditions have improved, these markets are susceptible to further decline. Properties prices of $2 million and above in areas of Stonnington and Boroondara, including Brighton and Black Rock, are predicted to fall up to 10%.
Mortgage-belt areas, such as Pakenham, Cranbourne, Melton and Clifton Springs, are set for price falls of up to 7%.
However, the news is optimistic for other areas of the established house market, which is tipped for positive growth in 2012. In particular, established houses priced at less than $2 million in well-regarded inner-suburbs such as Hawthorn, Kew, Richmond, Prahran and, slightly further afield, suburbs such as Ashburton, Camberwell, Hampton and Mentone, are expected to demonstrate growth of up to 3 to 4%.
Similarly established units and apartments situated in smaller developments in inner-city lifestyle locations will record a positive increase in growth in 2012. Areas include Armadale, Elwood and Hawthorn, where competition remains fierce for quality properties situated near Melbourne's “villages” and within a short commute of the CBD.
Conversely, modern units and established apartments in the CBD and Docklands are predicted to decline of up to 5%, with oversupply issues, lenders' pre-sale requirements and credit restrictions impacting saleability.
With discretionary spending expected to remain low in 2012, holiday properties are also predicted to continue to suffer with falls starting at five per cent and up to 10% for the leisure market.
In 2012, individual property performance will depend on location, size and aspect, particularly as buyers become increasingly selective. While current conditions remain favourable for buyers, they must be aware that not all properties represent sound investments.
Further afield, house prices in regional Victoria demonstrated overall growth of 0.8%, with a median price of $312,500. Figures for December show that Bendigo increased by 6.3% to $294,000, Ballarat increase by 3.7% to $290,000 and Geelong weakened by 2.3% to $380,000. However, be careful to do your research as much of the growth in these areas is artificial and driven by sales in new housing estates.
Tomorrow we will report on four Melbourne regions in the spotlight. 
Greville Pabst is CEO of the <a href="https://www.wbpproperty.com/" title="WBP Property Group" target="_blank">WBP Property Group</a>.
Photograph of Elwood village by <a target="_blank" href="https://www.ipostcodes.com.au/">iPostcodes.com.au</a> courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
 
 
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gpabst-nAfzC8fgsR

Melbourne housing market expected to improve in 2012, particularly in villages: WBP’s Greville Pabst

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Over-spending on real estate is a temptation often hard to resist. It’s not an emotion restricted to houses, however as property is often the most expensive purchase most make in a lifetime – usually with the intention of making a profit from the proceeds – it’s a serious enough “habit” to ponder the psychology behind it.
This past week, the media has widely publicised RP Data’s research revealing that<a target="_blank" href="/news"> the number of home owners experiencing negative equity rose to 6.11% in December 2011</a> compared with the previous quarter, which came in at 4.9%.  The report measures “baseline” equity – so in other words, it doesn’t take into account debt levels, which are based on individual circumstance and correctly observes most owners are covering interest payments on their home loans, as well as paying down the principal.
It simply assesses the difference between what your home was worth then and what it’s worth now. A full breakdown of how RP Data collates the information is described on the company’s website and to give the company its due, it leads the way in such technology, taking into account not only location and property type, but also basic attributes of each listing such as number of bedrooms and so forth. However, while this is valuable – especially when analysing broad market movements – it cannot accurately assess why two properties with similar attributes including land size and location may differ quite considerably in their sale price – did one owner overpay? To answer this, a physical inspection and subsequent assessment is needed.
RP Data uses an “automated valuation model”, which it has assessed through “blind tests” to be “within plus or minus 15% of the actual sale price”. However, while automated models are gaining traction as a credible tool even among time-poor (and arguably underpaid) valuers (some of whom seem to think a quick “drive by” is enough to attain an accurate assessment of “real value), they simply cannot be relied upon for an assumption of current market value when the majority of Australia’s real estate market is made up of home buyers whose individual circumstance and needs are subject to attributes that can only be assessed physically.
Last year the national capital city median dropped 5.5% (RP Data), which is a big enough drop to instigate a degree of concern. Yet RP Data reveals that in assessing the disparity between the previous sale price of a home and its current market value, it can be anywhere up to 15% “inaccurate”.  Even if we’re generous and assume properties entered into the system fall closer to the mark being just 10% or maybe even 5% out in terms of real selling price, it’s not a good enough analysis to make an assumption of the exact number of properties in negative equity – which is precisely what RP Data has done.
When valuing a home, certain aspects cannot be ascertained by an automated valuation model. These include physical condition of the property, the “feel” of space, natural light and most importantly, the “emotional appeal” unique to each home buyer. All of these you can only assess via a physical inspection and yet all bear a significant impact on the final sales price.
Our lives are ruled by automated systems that churn out statistics that affect not only commodity prices, interest rates and market sentiment, but also bear an increasingly controlling effect on our society and the decisions we make for ourselves and families.  We’ve had a year during which on paper, the economy looks remarkably OK. Market sentiment has been blamed for the housing downturn, however large numbers of small businesses are struggling – numbers that are somehow missed in various statistical models or eclipsed by the mining boom. This is not to dismiss the importance of transparent data; I’m simply drawing a line between where this data is useful and where it becomes an unnecessary and inaccurate intrusion affecting the paths we take.
Property is an emotional purchase where beauty is commonly in the eye of the beholder.  Spend enough time assessing a location, walking through open homes, attending auctions, gaining access to accurate sales data, and understanding the demographics of the area-specific buying market and what may drive one property to sell higher than another, and you’ll get easily within 5% accuracy on a property’s sales price 95% of the time – something an automated model cannot independently achieve.
This is one reason why buyers’ advocates are becoming an obvious option for the time-poor who don’t have the energy to do the necessary legwork I’ve described above.
We also need to bear in mind, in some states – such as Victoria – there’s still not open disclosure to the general public of “private” sales data aside from listing the street and suburb – further details revealing the exact house number are limited to licensed estate agents, therefore any detailed research in the public domain is limited to properties that have been auctioned (of course, assuming those prices are not listed as “undisclosed”).
 
<hr class="system-pagebreak">
 
However, for a home buyer, the assessment on how much to pay for a property is an emotional issue. What a house may be worth to one buyer is not an indication of what it’s worth to another. I’ve attended a surprisingly high number of auctions during which the next-door neighbour has been bidding for the home. Obviously a sale of land that has the potential to dramatically increase the value of the neighbouring house or apartment is worth significantly more than it would be to an average home buyer. Therefore overpaying and subsequently experiencing negative equity in such circumstances is consequential and should not be a concern considering the long-term benefit to the holder.
So are we really looking at 6.4% of homes in negative equity? Well, considering we’ve just been through a year with turnover has been at its lowest level for a decade and a drop in median value that has – in some areas and suburbs – eclipsed 10% or even 15%, there’s no doubt that those who purchased some three years ago at the peak of the market will be wondering if they didn’t over pay comparatively to today’s prices. Additionally, there are always those who didn’t research the market closely enough before jumping in, got carried away at auction and arguably overpaid. I see this often enough to genuinely believe that every home buyer should be diligent enough to get qualified independent advice prior to purchasing.
Other concerns on price paid include the number of off-the-plan sales, which are fast rising in number. Trying to value an unfinished product considering the considerable and temporary oversupply is hard at the best of times – therefore in answer to the question above, we can assume there is certainly a number of properties that are currently experiencing negative equity.
The report suggests there are some – albeit 1% – who have owned their homes for over 10 years that are looking at lower values. I would find this hard to perceive in any capital city area unless we’re assessing a location affected by floods or a regional location, therefore the exact breakdown of these results would need to be assessed further to draw conclusion. Therefore in short, yes, there are numbers who may be suffering a temporary period of negative equity, but to assess how many is quite simply impossible outside of a broad estimation (even “guess-timation”).
Aside from what I’d assess to be a report that is more of an assumption than accurate representation, there is a tendency to overpay for real estate that resides deeply in every home buyer’s psychological makeup. I’ve worked with many investors and owner-occupiers with budgets ranging from $300,000 to in excess of $4 million.  Without fail, all desire one step more than they can reasonably afford and the more money they have to play with, the more grandiose expectations become. You can somewhat understand it when dealing with a first-home buyer or a family who need a house but can only extend to a unit. Genuinely “needing” more than the budget can afford is a frustrating hazard of a rising population.
However, it’s a little harder to relate to at the other extreme and no better is it demonstrated than in those who commonly have the purchasing power to own modern man’s equivalent of the ancient castle. This is also the demographic most likely to experience negative equity when trying to sell in a downward cyclical phase.
As <a href="https://www.propertyobserver.com.au/residential/australia-s-housing-market-could-crash-if-property-s-primary-purpose-is-forgotten-catherine-cashmore/2012030553684">I’ve pointed out in previous articles</a>, since history began, housing has been an integral part of the most valuable asset man desired, fought over, possessed and in many cases died for. Land was – and has always been – the ultimate symbol of power and wealth, and owning it often holds more significance for the vendor than can be assessed in monitory value alone. In this instance, it’s not so much about need for shelter, but desire to exhibit status, and the higher the price paid, the greater the risk involved. For example, head out to the suburbs surrounding the capital that fall into the highest median price bracket, with large land sizes complete with McMansions – suburbs such as Toorak in Melbourne and Point Piper in Sydney – and the buyer market diminishes considerably. The further away from the median price bracket you get, the more volatility experienced.
Supply verses demand is what fundamentally drives market activity, therefore the less demand you have, the less opportunity for price appreciation. In a downward cycle, multimillion-dollar real estate will be forced to drop further in price in order to sell. Therefore if you’re a bargain hunter, pick the right time, and this isn’t a bad place to start! Once the cycle turns, these areas will re capture the greatest gains in median value and make a tidy profit for the astute buyer who “timed the market”.
Meanwhile, to each and every home buyer, considering we have not experienced anything near to a 40% drop in median value as exhibited in areas of the US and strong indications suggest we’re unlikely to for some time to come, you can assume any talk of negative equity affecting your property is a consequence of what a computer has assessed, not a home buyer. Once computers get to the level demonstrated in the film I, Robot I’ll take a little more notice.
 
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://ten.com.au/the-circle.htm">The Circle</a> and a senior consultant for <a href="https://www.nationalpropertybuyers.com.au/">National Property Buyers</a> servicing the needs – Australia wide – for home buyers and investors.
 
 
 
 
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catherinecashmore-6LXia3pPQj

Negative equity hurting McMansion owners, but most home owners needn’t worry

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<img src="/images/stories/10989.gif">
The number of properties available to rent in Melbourne, which has a vacancy rate of 3%, according to SQM Research. This is down from 12,719 in January but up from 9,998 at this time last year.
 
<hr>
 
<img src="/images/stories/7972.gif">
The number of properties available to rent in Sydney, which has a vacancy rate of 1.5%, according to SQM Research. This is down from 8,456 in January but up from 6,894 at this time last year.
 
<hr>
<img src="/images/stories/4665.gif">
The number of properties available to rent in Brisbane, which has a vacancy rate of 1.6%, according to SQM Research. This is down from 5,112 in January but up from 4,479 at this time last year.
 
<hr>
<img src="/images/stories/2219.gif">
The number of properties available to rent in Adelaide, which has a vacancy rate of 1.3%, according to SQM Research. This is down from 2,231 in January but up from 1,657 at this time last year.
 
<hr>
<img src="/images/stories/973.gif">
The number of properties available to rent in Perth, which has a vacancy rate of 0.6%, according to SQM Research. This is down from 1,084 in January and from 1,567 at this time last year.
 
<hr>
<img src="/images/stories/637.gif">
The number of properties available to rent in Hobart, which has a vacancy rate of 2.3%, according to SQM Research. This is up from 583 in January and from 266 at this time last year.
 
<hr>
<img src="/images/stories/313.gif">
The number of properties available to rent in Canberra, which has a vacancy rate of 0.7%, according to SQM Research. This is downfrom 382 in January and from 285 at this time last year.
 
<hr>
 
<img src="/images/stories/184.gif">
The number of properties available to rent in Darwin, which has a vacancy rate of 0.7%, accordign to SQM Research. This is down from 238 in January but up from 540 at this time last year.
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cknowlton-QnEa6ntUYP

How much stock is available to rent in your capital city? A state-by-state analysis: SQM Research

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Houses took an average of just 18 days to sell in Chippendale – the fastest-selling locality in NSW, according to RP Data. This is seven days quicker than the next fastest-selling locality, Beverley Park, where it took 25 days to sell a house. Property Observer notes there were just 17 houses sold in Chippendale last year.
<table width="213" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="bottom" nowrap width="133">
Locality
</td>
<td valign="bottom" nowrap width="80">
Days on Market
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Chippendale
</td>
<td valign="bottom" nowrap width="80">
18
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Beverley Park
</td>
<td valign="bottom" nowrap width="80">
25
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Edgecliff
</td>
<td valign="bottom" nowrap width="80">
28
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Regentville
</td>
<td valign="bottom" nowrap width="80">
28
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Old Toongabbie
</td>
<td valign="bottom" nowrap width="80">
31
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Bangor
</td>
<td valign="bottom" nowrap width="80">
32
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Lane Cove North
</td>
<td valign="bottom" nowrap width="80">
34
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Revesby Heights
</td>
<td valign="bottom" nowrap width="80">
34
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Padstow
</td>
<td valign="bottom" nowrap width="80">
35
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="133">
Waitara
</td>
<td valign="bottom" nowrap width="80">
35
</td>
</tr>
</tbody></table>
 
Source: RP Data
 
 
 
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awalsh-7Ub9EypybQ

Chippendale fastest-selling locality in NSW: RP Data

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The higher numbers of Australians heading overseas on holiday and doing their shopping there is having a more damaging effect on the retail sector than online shopping, according to BIS Shrapnel managing director Robert Mellor. 
Mellor said internet shopping was an important factor in the current challenges facing retail, but stressed that the “lost dollars” from people travelling and spending overseas was a “more critical factor” in the current soft market during an address in Melbourne recently. 
According to the Australian Bureau of Statistics, the number of Australians travelling abroad rose to 7.8 million in 2011, and Australians took nearly 2 million more overseas trips in 2011 than they did in 2010. 
A survey released by Roy Morgan in October last year showed that overseas travel intentions are at their highest point in five years, with one in 10 Australians planning to go abroad in 2012.
BIS Shrapnel is forecasting a stabilisation in retail construction in 2012-13 with building commencements rising 7% to $4.65 billion in 2012-13 following a contraction of 11% to $4.35 billion in 2011-12.
Click to enlarge
<a href="/images/stories/bismarch26.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/bismarch26thumb.gif"></a>
“[Retail property investors] have been cautious due to the current softness in retail sales growth,” Mellor says. 
“We won’t see a surge in investment but a stabilisation,” he says. 
BIS Shrapnel chief economist Frank Gelber says speciality stores, which provide retail landlords with their “bread and butter” rents, are doing it tough at the moment. 
“We have actually seen a lot of people walking away from their leases and not renew them for the first time in a very long time. 
“Some of it is cyclical and some is structural due to the consequences of online shopping and more Australians spending their money overseas than here,” Gelber says. 
The latest March BIS Shrapnel bulletin notes that the retail sector has a struggled since early 2011, with a relatively sharp slowdown in the rate of retail turnover growth. 
“This weakness reflects a range of interconnected factors, most significantly the loss of government stimulus, a weakened and volatile economy and a high Australia dollar which is intensifying overseas online shopping competition,” says the BIS Shrapnel March 2012 Building Industry Prospects report. 
The research firm expects consumer confidence to gradually improve over 2012, which will flow into retail sales. 
“With no fundamental oversupply of retail space, improving confidence will aid investment decisions, particularly for larger retail centres. Bulky good related construction is expected to persist at a high level,” says BIS Shrapnel in its March outlook bulletin. 
According BIS Shrapnel, the 2011-12 result would be weaker, if not for the commencement of high-end developments such as the $200 million Indooroopilly Shopping Centre expansion in Brisbane and $400 million Melbourne Emporium project. 
“Also, despite the weakness, a number of major retailers have pushed forward with aggressive expansion plans including ALDI, Woolworths (especially with new Masters hardware chain), Westfarmers (Coles) and Costco. As a result, bulky good and to a lesser degree smaller neighbourhood shopping centre retail construction has performed strongly. 
“Conditions in the retail sector are expected to gradually improve into 2012-13, which is expected to flow into warehouse space requirements and improved business confidence. Activity is still heavily reliant on pre-commitments with limited speculative development evident, and this is expected to continue,” the report says. 
“The strongest market through to 2012-13 is forecast to be NSW, with the value of building works set to expand by 27%.” 
BIS Shrapnel notes there are “quite a number of shopping centre redevelopments proposed in Sydney, and as trading conditions improve, one or two of these is anticipated to commence”. 
Currently the two biggest retail projects are both being undertaken by Stockland – the $130 million redevelopment of Merrylands (stage 3 and 4) in Western Sydney and the $180 million redevelopment of the Shellharbour Retail Centre near Wollongong. 
There is also expected to be a strong 17% surge in retail construction in WA in 2012-13, with the  strength of the state economy continuing to support investment “as excess capacity is quickly absorbed”. 
“Strong population and wage growth will result in solid retail spending growth, supporting investment in retail building,” says BIS Shrapnel. 
In Victoria, retail construction is expected to fall modestly in 2011-12 (-4%) even with construction of the $400 million Melbourne Emporium development now underway. 
In Queensland, with retail construction already at a high base and the $200 million Indooroopilly Shopping Centre Expansion the only major project expected to commence in 2011-12 in Queensland, retail building is forecast to contract by 30%.
 
 
 
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lschlesinger-FZcF9M3vE6

Overseas travel more damaging than online shopping to Australian retail: BIS Shrapnel

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Lord Alistair McAlpine of West Green, the down-to-earth Broome visionary, was back in the Kimberley region for the first time in a decade.
And he liked what he saw, with one caveat.
“It’s important the planners stick to the ‘no higher than a palm tree’ height principle when it comes to new development,” he told Property Observer before departing Broome last Friday.
Describing the heat during his six-day visit as like a very gentle sauna, McAlpine, the treasurer of the British Conservative Party under Margaret Thatcher, was there to be recognised by the shore for his contribution to putting the place on the tourism map.
Once dubbed by the eastern states press as "Lord Of The Bush", he was formally recognised at a ceremony last week given the presentation of the shire's highest honour, Freeman of the Municipality.
Coming to buy seashells, he first visited the former pearling town in 1979 and was taken with it – albeit describing it as a derelict town.
<img src="/images/stories/suncinemas.jpg">
Within hours of arriving in the Kimberley town he’d purchased a cottage, then the Sun Cinemas (pictured above), and within a few years he'd started a zoo and a luxury resort.
He had been building Perth property since the mid-1960s including construction of the Pamelia hotel through his family business.
His acquisitions of Broome properties – many of the best of the pearling master's cottages – got up into the 20s.
“Without its old houses, Broome was nothing,” the softly spoken McAlpine told Property Observer.
<img src="/images/stories/cablebeach.jpg">
His biggest acquisition was the Cable Beach property – then a caravan park and sewer – which is now the Cable Beach Resort (pictured above). It was bought quite informally – a beer mat contract – at the Roey pub.
“The Cable Beach Resort is far better than in the past,” McAlpine acknowledged.
Broome, set in one of Australia's great wilderness areas, is easily isolated.
McAlpine’s exit from the town came in the wake of the debilitating 1989 pilots’ strike, and he said he might still be there but for it.
“It’s greatly improved since my day,” he said, dressed dapperly in earthy colours that matched the geographical locality, but perhaps not suiying the temperature.
“The town has developed very well, but it’s not there yet.
“There’s a lot more buildings, but not much has changed.”
‘It’s a mature town, but I’ve been impressed by the restraint. They’ve stroked it terrifically,” he said.
He says there’s a need for more foliage in the town.
During a public gathering he was quizzed on the impact arising from the development of a gas project at James Price Point.
“Resources will be a short-term thing,” he suggested.
But he indicated he was more concerned at the prospect of eco-hotels opening up through the Kimberley and people arriving to them on buses and in gas-guzzling four-wheel drives.
He is keen for railway lines to be constructed in the region. He suggests a railway line from Meekatharra to Broome and onto Darwin and a narrow gauge rail line from Broome up to Cape Leveque on the Dampier Peninsula.
In 2010 he stepped down from his seat in the House of Lords.
<img src="/images/stories/mcalpine1.jpg">
Photographs by Jonathan Chancellor
He lives with his wife, Athena (pictured above), in southern Italy, which he says has a similar dry climate, owning a haute bed-and-breakfast, the 15th-century Il Convento di Santa Maria di Costantinopoli, in Apulia.
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jchancellor-FAypfDUnLy

Lord Alistair McAlpine returns to Broome and urges tourism development stay below the palm tree line

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Department store group David Jones endured a lacklustre six months of retail trading, reporting 20% drop in interim profits and a 6.7% drop in sales for the six months to January 29, 2012 compared with the same period in 2011.
The retailer occupies prime space in some of Australia’s biggest shopping centres, and its performance will be closely monitored by retail property investors and landlords.
These are the numbers you need to know:
<img src="/images/stories/36star.gif">
The number of David Jones department stores in Australia
 
<hr>
 
<img src="/images/stories/34.gif">
The number of store premises David Jones rents from retail landlords
 
<hr>
 
<img src="/images/stories/2.gif">
The number of store premises owned by David Jones – Elizabeth Street (Sydney) and Bourke Street Mall (Melbourne)
 
<hr>
 
 
<img src="/images/stories/462point5.gif">
The total value of land, building and integral plant facilities owned by David Jones
 
<hr>
 
 <img src="/images/stories/1point01b.gif">
The total value of sales achieved by David Jones during the first half of the 2012 financial year, compared with $1.08 billion in previous corresponding period.
 
<hr>
 
 
<img src="/images/stories/6.gif">
The number of DJ stores in the development pipeline.  Of these two are under construction: Highpoint (Melbourne), which is scheduled to open in the first quarter of 2013, and Indooroopilly (Brisbane), which is scheduled to open in the first quarter of 2014. There are four where DJs has signed  “agreements to lease”: Macquarie (NSW), Whitford (WA), Pacific Fair (south-east Queensland) and Sunshine Plaza (south-east Queensland)
 
<hr>
<img src="/images/stories/40m.gif">
The forecasted annual sales revenue for David Jones Indooroopilly in its first year of operation in 2014
 
<hr>
 
<img src="/images/stories/42000sqm.gif">
The gross lettable area of David Jones stores in the development pipeline, the biggest being Pacific Square at 14,500 square metres
 
<hr>
<img src="/images/stories/93point4m.gif">
DJ’s lease and occupancy expenses for the six months to January 29 2012
 
<hr>
 
<img src="/images/stories/5point7percent.gif">
The increase in DJ’s lease and occupancy expenses for the six months to January 29, 2012 compared with the previous corresponding period
 
<hr>
 
<img src="/images/stories/15.gif">
The number of David Jones department stores in NSW. These are Elizabeth Street, Sydney; Chatswood Chase; Newcastle; Market Street, Sydney; Hornsby, Parramatta, Bondi Junction, Kotara, Tuggerah, Burwood, Macarthur Square, Warringah Mall, Castle Towers, Miranda, Wollongong
 
<hr>
<img src="/images/stories/7n.gif">
The number of DJ department stores in Queensland. These are <a href="https://www.davidjones.com.au/stores/Queens-Plaza">Queens Plaza</a>; <a href="https://www.davidjones.com.au/stores/Garden-City-QLD">Garden City (QLD</a>); <a href="https://www.davidjones.com.au/stores/Carindale">Carindale</a>; <a href="https://www.davidjones.com.au/stores/Robina-Town-Centre">Robina Town Centre</a>; <a href="https://www.davidjones.com.au/stores/Toowong-Village">Toowong Village</a> and <a href="https://www.davidjones.com.au/stores/Chermside">Chermside</a>
 
<hr>
<img src="/images/stories/5.gif">
The number of David Jones department stores in Melbourne. These are <a href="https://www.davidjones.com.au/stores/Bourke-Street-Mall">Bourke Street Mall</a>; <a href="https://www.davidjones.com.au/stores/Doncaster">Doncaster</a>; <a href="https://www.davidjones.com.au/stores/Southland">Southland</a>; <a href="https://www.davidjones.com.au/stores/Chadstone">Chadstone</a> and <a href="https://www.davidjones.com.au/stores/Glen-Waverley">Glen Waverley</a>
 
<hr>
<img src="/images/stories/4.gif">
The number of David Jones department stores in Western Australia. These are <a href="https://www.davidjones.com.au/stores/Hay-Street-Mall">Hay Street Mall</a>; <a href="https://www.davidjones.com.au/stores/Garden-City-WA">Garden City (WA</a>); <a href="https://www.davidjones.com.au/stores/Karrinyup">Karrinyup</a> and <a href="https://www.davidjones.com.au/stores/Claremont-Quarter">Claremont Quarter</a>
 
<hr>
<img src="/images/stories/3.gif">
The number of David Jones department stores in South Australia. These are Adelaide Central Plaza; Marion and West Lakes
 
<hr>
 
<img src="/images/stories/2.gif">
The number of David Jones department stores in South Australia. These are Canberra Centre and Woden
 
<hr>
<img src="/images/stories/2.gif"> 
The number of DJ “rack” discounted clearance stores. These are David Jones Warehouse - Birkenhead Point (Sydney) and David Jones Warehouse Harbour Town (Gold Coast)
 
*David Jones says it has 36 department stores but only lists 35 on its store locator website. Property Observer is awaiting clarification from David Jones.
Photograph courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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David Jones retailing and property by the numbers

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The total land value of Moree Plains Shire increased 35% from 2008 to 2011, driven up by strong growth in rural land values, according to NSW Valuer-General Philip Western.
The combined land value of the 6962 properties in the shire was $3.368 billion in July 2011, up from $2.499 billion in 2007.
Larger cropping land and mixed farming and grazing land values had a moderate increase over the four years, with irrigation lands experiencing a slight increase in value.
Former grazing properties west of Moree, which were recently converted to cultivation land, had a strong increase in land values.
Hobby farms had a slight increase in land values, with sites smaller than one hectare surrounding the villages experiencing strong increases.
The village areas of Mungindi and Pallamallawa had a moderate increase in land values, while village land in Boggabilla experienced strong increases.
<img src="/images/stories/moreeplainsmap.gif">
These overall increases in rural prices came despite a 0.5% drop in median rural land prices from 2010 to 2011 from $603,000 to $600,000.
The land value of residential, commercial and industrial land has generally in the shire remained steady.
From 2010 to 2011 median business land prices increased 1% from $96,100 to $96,900 while median residential land prices stayed at $30,800 and median industrial land prices at $102,000.
Landowners and rate-paying-lessees received a notice of valuation last month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>664 square metres at Barwon Avenue, Moree valued at $5,000 </li>
<li>646 square metres at Brigalow Drive, Moree valued at $38,500 </li>
<li>1,370 square metres at Callaille Avenue, Moree valued at $115,000 </li>
<li>767 square metres at Oak Street, Moree valued at $10,500 </li>
<li>974 square metres at Queen Street, Moree valued at $65,000</li>
</ul>
Typical commercial land values were:
<ul>
<li>396 square metres at Balo Street, Moree valued at $187,000 </li>
<li>891 square metres at Frome Street, Moree valued at $98,000 </li>
<li>1,012 square metres at St George Street, Mungindi valued at $4,340</li>
</ul>
Typical industrial land values were:
<ul>
<li>2,574 square metres at Greenbah Road, Moree valued at $152,000 </li>
<li>5,489 square metres at Industrial Drive, Moree valued at $102,000</li>
</ul>
Typical rural land values were:
<ul>
<li>571 hectares at Terry Hie Hie Road, Moree valued at $1,860,000 </li>
<li>1,056 hectares at Ulinga Road, Garah valued at $1,540,000</li>
<li>394 hectares at Terry Hie Hie Road, Terry Hie Hie valued at $1,420,000 </li>
<li>1,297 hectares at Talmoi Road, Garah valued at $2,590,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>2.7 hectares at Tranquility Road, Moree valued at $110,000 </li>
<li>41.5 hectares at Burrington Road, Moree valued at $147,000 </li>
<li>5,066 square metres at Myora Street, Moree valued at $15,000</li>
</ul>
Typical hobby farm land value was:
<ul>
<li>57.4 hectares at Mosquito Creek Road, Pallamallawa valued at $208,000</li>
</ul>
Typical village land values were:
<ul>
<li>2,023 square metres at Bucknell Street, Mungindi valued at $1,970 </li>
<li>2,011 square metres at Yeoman Street, Boggabilla valued at $5,500 </li>
<li>2,023 square metres at Bingera Street, Pallamallawa valued at $16,900</li>
</ul>
 
 
 
<ul></ul>
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Mooree Plains land values increased 35% in three years, driven by strong rural growth

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The Australian housing market has already enduring the ultimate test and is sturdy enough to sustain the current market pressures, says Commonwealth Bank chief economist Michael Blythe.

He says the Australian housing market went through “ultimate test” a few years ago in the wake of GFC and “came out the other side in relatively good shape”.

“That’s probably the best indication that we’ve not got a genuine bubble as we know them from historical experience.

“As an economist, I have to believe in the laws of supply and demand, and supply and demand in the Australian housing market is in a position to at least keep a floor under prices,” Blythe said as part of a panel discussion at the recent Australian Banking and Finance Mortgage Innovation Forum in Sydney 

According to Blythe, talk of housing bubbles is nothing new and particularly comes up at times when the market is under pressure.

He says talk of an Australian housing bubble dates back to 2004.

“It’s been a persistent theme and a persistent question we get from clients, particularly from those offshore,” he said.
 
 
 
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